Vectren (VVC) 8-K Results of Operations and Financial Condition

EXHIBIT 99.3

VECTREN CORPORATION
AND SUBSIDIARY COMPANIES
RECONCILIATION OF GAAP TO NON-GAAP MEASURES
(Unaudited - in millions, except per share amounts)
		Twelve Months Ended December 31, 2017
(In millions, except EPS)		GAAP Measure			Deferred Tax Revaluation (Gain) / Loss			Operating Expense Charge			Non-GAAP Measure
Consolidated
Net Income		$	216.0		$	(45.3	)	$	45.3		$	216.0
Basic EPS		$	2.60		$	(0.55	)	$	0.55		$	2.60
Utility Group
Net Income		$	175.8		$	(23.2	)	$	23.2		$	175.8
Basic EPS		$	2.12		$	(0.28	)	$	0.28		$	2.12
	Utility Group Segments
	Gas Utility - Net Income	$	115.5		$	(27.3	)	—			$	88.2
	Electric Utility - Net Income	$	75.2		—			—			$	75.2
	Other Utility Operations - Net Income	$	(14.9	)	$	4.1		$	23.2		$	12.4
Nonutility Group
Net Income		$	41.1		$	(22.3	)	$	22.1		$	40.9
Basic EPS		$	0.49		$	(0.27	)	$	0.27		$	0.49
Corp & Other
Net Income		$	(0.9	)	$	0.2		—			$	(0.7	)
Basic EPS		$	(0.01	)	—			—			$	(0.01	)
Other Operating Expense
Consolidated		$	1,115.9		—			$	(69.7	)	$	1,046.2
Utility Group		$	370.4		—			$	(35.7	)	$	334.70
Income Tax Expense
Consolidated		$	46.4		$	45.3		$	24.4		$	116.1
Utility Group		$	60.7		$	23.2		$	12.5		$	96.4
Nonutility Group		$	(13.5	)	$	22.3		$	11.9		$	20.7
Corp & Other		$	(0.8	)	$	(0.2	)	—			$	(1.0	)