Exhibit 99.3
Dominion
Unaudited Supplemental Summary of 2010 Operating Earnings
(millions, except per share amounts)
| | | | | | | | | | | | | | | | | | | | |
| | 12 Months Ended 12/31/10 | | | Quarter ended 12/31/10 | | | Quarter ended 09/30/10 | | | Quarter ended 06/30/10 | | | Quarter Ended 03/31/10 | |
Dominion Virginia Power | | | | | | | | | | | | | | | | | | | | |
Electric Distribution | | | | | | | | | | | | | | | | | | | | |
Operating revenue | | $ | 1,313 | | | $ | 314 | | | $ | 352 | | | $ | 325 | | | $ | 322 | |
| | | | | | | | | | | | | | | | | | | | |
Expenses: | | | | | | | | | | | | | | | | | | | | |
Commodity purchases | | | 1 | | | | 0 | | | | 0 | | | | 1 | | | | 0 | |
Purchased electric capacity | | | 0 | | | | 0 | | | | 0 | | | | 0 | | | | 0 | |
Other operations and maintenance | | | 429 | | | | 120 | | | | 116 | | | | 95 | | | | 98 | |
Depreciation, depletion and amortization | | | 291 | | | | 74 | | | | 73 | | | | 72 | | | | 72 | |
Other | | | 53 | | | | 13 | | | | 12 | | | | 12 | | | | 16 | |
| | | | | | | | | | | | | | | | | | | | |
Earnings including noncontrolling interests before interest and taxes | | $ | 539 | | | $ | 107 | | | $ | 151 | | | $ | 145 | | | $ | 136 | |
Electric Transmission | | | | | | | | | | | | | | | | | | | | |
Operating revenue | | $ | 430 | | | $ | 132 | | | $ | 118 | | | $ | 87 | | | $ | 93 | |
| | | | | | | | | | | | | | | | | | | | |
Expenses: | | | | | | | | | | | | | | | | | | | | |
Commodity purchases | | | 0 | | | | 0 | | | | 0 | | | | 0 | | | | 0 | |
Purchased electric capacity | | | 15 | | | | 11 | | | | 4 | | | | 0 | | | | 0 | |
Other operations and maintenance | | | 162 | | | | 54 | | | | 54 | | | | 20 | | | | 34 | |
Depreciation, depletion and amortization | | | 53 | | | | 15 | | | | 14 | | | | 12 | | | | 12 | |
Other | | | (22 | ) | | | (5 | ) | | | (6 | ) | | | (6 | ) | | | (5 | ) |
| | | | | | | | | | | | | | | | | | | | |
Earnings including noncontrolling interests before interest and taxes | | $ | 222 | | | $ | 57 | | | $ | 52 | | | $ | 61 | | | $ | 52 | |
Dominion Retail | | | | | | | | | | | | | | | | | | | | |
Operating revenue | | $ | 2,077 | | | $ | 554 | | | $ | 453 | | | $ | 394 | | | $ | 676 | |
| | | | | | | | | | | | | | | | | | | | |
Expenses: | | | | | | | | | | | | | | | | | | | | |
Commodity purchases | | | 1,827 | | | | 461 | | | | 406 | | | | 351 | | | | 609 | |
Purchased electric capacity | | | 0 | | | | 0 | | | | 0 | | | | 0 | | | | 0 | |
Other operations and maintenance | | | 88 | | | | 20 | | | | 25 | | | | 21 | | | | 22 | |
Depreciation, depletion and amortization | | | 9 | | | | 1 | | | | 2 | | | | 3 | | | | 3 | |
Other | | | 23 | | | | 7 | | | | 6 | | | | 6 | | | | 4 | |
| | | | | | | | | | | | | | | | | | | | |
Earnings including noncontrolling interests before interest and taxes | | $ | 130 | | | $ | 65 | | | $ | 14 | | | $ | 13 | | | $ | 38 | |
Segment Eliminations | | | | | | | | | | | | | | | | | | | | |
Operating revenue | | $ | 0 | | | $ | 0 | | | $ | 0 | | | $ | 0 | | | $ | 0 | |
| | | | | | | | | | | | | | | | | | | | |
Expenses: | | | | | | | | | | | | | | | | | | | | |
Commodity purchases | | | 0 | | | | 0 | | | | 0 | | | | 0 | | | | 0 | |
Purchased electric capacity | | | 0 | | | | 0 | | | | 0 | | | | 0 | | | | 0 | |
Other operations and maintenance | | | 1 | | | | 0 | | | | 1 | | | | 0 | | | | 0 | |
Depreciation, depletion and amortization | | | 0 | | | | 0 | | | | 0 | | | | 0 | | | | 0 | |
Other | | | (1 | ) | | | 0 | | | | (1 | ) | | | 0 | | | | 0 | |
| | | | | | | | | | | | | | | | | | | | |
Earnings including noncontrolling interests before interest and taxes | | $ | 0 | | | $ | 0 | | | $ | 0 | | | $ | 0 | | | $ | 0 | |
| | | | | | | | | | | | | | | | | | | | |
Dominion Virginia Power Total | | | | | | | | | | | | | | | | | | | | |
Operating revenue | | $ | 3,820 | | | $ | 1,000 | | | $ | 923 | | | $ | 806 | | | $ | 1,091 | |
| | | | | | | | | | | | | | | | | | | | |
Expenses: | | | | | | | | | | | | | | | | | | | | |
Commodity purchases | | | 1,828 | | | | 462 | | | | 405 | | | | 352 | | | | 609 | |
Purchased electric capacity | | | 16 | | | | 12 | | | | 4 | | | | 0 | | | | 0 | |
Other operations and maintenance | | | 679 | | | | 192 | | | | 196 | | | | 136 | | | | 155 | |
Depreciation, depletion and amortization | | | 353 | | | | 90 | | | | 89 | | | | 87 | | | | 87 | |
Other | | | 53 | | | | 15 | | | | 12 | | | | 12 | | | | 14 | |
| | | | | | | | | | | | | | | | | | | | |
Earnings including noncontrolling interests before interest and taxes | | $ | 891 | | | $ | 229 | | | $ | 217 | | | $ | 219 | | | $ | 226 | |
Interest and related charges | | | 158 | | | | 42 | | | | 40 | | | | 37 | | | | 39 | |
Income taxes | | | 277 | | | | 70 | | | | 68 | | | | 68 | | | | 71 | |
Noncontrolling interests | | | 8 | | | | 2 | | | | 2 | | | | 2 | | | | 2 | |
| | | | | | | | | | | | | | | | | | | | |
Operating earnings contribution | | $ | 448 | | | $ | 115 | | | $ | 107 | | | $ | 112 | | | $ | 114 | |
Average shares outstanding, diluted | | | 590.1 | | | | 582.1 | | | | 586.4 | | | | 591.4 | | | | 600.9 | |
| | | | | | | | | | | | | | | | | | | | |
Operating earnings per share contribution | | $ | 0.76 | | | $ | 0.20 | | | $ | 0.18 | | | $ | 0.19 | | | $ | 0.19 | |
| | | | | | | | | | | | | | | | | | | | |
Notes:
• | | Commodity purchases = Electric fuel and other energy-related purchases + Purchased gas |
• | | Other = Other Taxes - Other Income |
• | | Operating segment contribution to operating earnings equals contribution to GAAP earnings |
• | | Figures may not add due to rounding |
Page 1 of 6
Dominion
Unaudited Supplemental Summary of 2010 Operating Earnings
(millions, except per share amounts)
| | | | | | | | | | | | | | | | | | | | |
| | 12 Months Ended 12/31/10 | | | Quarter ended 12/31/10 | | | Quarter ended 09/30/10 | | | Quarter ended 06/30/10 | | | Quarter Ended 03/31/10 | |
Dominion Energy | | | | | | | | | | | | | | | | | | | | |
Gas Distribution (DEO & HGI) | | | | | | | | | | | | | | | | | | | | |
Operating revenue | | $ | 1,094 | | | $ | 374 | | | $ | 138 | | | $ | 184 | | | $ | 398 | |
| | | | | | | | | | | | | | | | | | | | |
Expenses: | | | | | | | | | | | | | | | | | | | | |
Commodity purchases | | | 291 | | | | 99 | | | | 13 | | | | 33 | | | | 146 | |
Purchased electric capacity | | | 0 | | | | 0 | | | | 0 | | | | 0 | | | | 0 | |
Other operations and maintenance | | | 418 | | | | 155 | | | | 70 | | | | 79 | | | | 114 | |
Depreciation, depletion and amortization | | | 65 | | | | 17 | | | | 17 | | | | 16 | | | | 15 | |
Other | | | 96 | | | | 31 | | | | 13 | | | | 17 | | | | 35 | |
| | | | | | | | | | | | | | | | | | | | |
Earnings including noncontrolling interests before interest and taxes | | $ | 224 | | | $ | 72 | | | $ | 25 | | | $ | 39 | | | $ | 88 | |
Gas Transmission | | | | | | | | | | | | | | | | | | | | |
Operating revenue | | $ | 1,186 | | | $ | 300 | | | $ | 268 | | | $ | 279 | | | $ | 339 | |
| | | | | | | | | | | | | | | | | | | | |
Expenses: | | | | | | | | | | | | | | | | | | | | |
Commodity purchases | | | 179 | | | | 39 | | | | 39 | | | | 42 | | | | 59 | |
Purchased electric capacity | | | 0 | | | | 0 | | | | 0 | | | | 0 | | | | 0 | |
Other operations and maintenance | | | 296 | | | | 89 | | | | 77 | | | | 63 | | | | 67 | |
Depreciation, depletion and amortization | | | 124 | | | | 31 | | | | 31 | | | | 31 | | | | 31 | |
Other | | | 30 | | | | 6 | | | | 11 | | | | 7 | | | | 6 | |
| | | | | | | | | | | | | | | | | | | | |
Earnings including noncontrolling interests before interest and taxes | | $ | 557 | | | $ | 135 | | | $ | 110 | | | $ | 136 | | | $ | 176 | |
Producer Services | | | | | | | | | | | | | | | | | | | | |
Operating revenue | | $ | 1,330 | | | $ | 290 | | | $ | 321 | | | $ | 307 | | | $ | 412 | |
| | | | | | | | | | | | | | | | | | | | |
Expenses: | | | | | | | | | | | | | | | | | | | | |
Commodity purchases | | | 1,264 | | | | 270 | | | | 284 | | | | 320 | | | | 390 | |
Purchased electric capacity | | | 0 | | | | 0 | | | | 0 | | | | 0 | | | | 0 | |
Other operations and maintenance | | | 22 | | | | 5 | | | | 8 | | | | 4 | | | | 5 | |
Depreciation, depletion and amortization | | | 1 | | | | 1 | | | | 0 | | | | 0 | | | | 0 | |
Other | | | 0 | | | | 0 | | | | 0 | | | | 1 | | | | (1 | ) |
| | | | | | | | | | | | | | | | | | | | |
Earnings including noncontrolling interests before interest and taxes | | $ | 43 | | | $ | 14 | | | $ | 29 | | | | ($18 | ) | | $ | 18 | |
E&P | | | | | | | | | | | | | | | | | | | | |
Operating revenue | | $ | 84 | | | $ | 1 | | | $ | 0 | | | $ | 19 | | | $ | 65 | |
| | | | | | | | | | | | | | | | | | | | |
Expenses: | | | | | | | | | | | | | | | | | | | | |
Commodity purchases | | | 0 | | | | 0 | | | | 0 | | | | 0 | | | | 0 | |
Purchased electric capacity | | | 0 | | | | 0 | | | | 0 | | | | 0 | | | | 0 | |
Other operations and maintenance | | | 20 | | | | 1 | | | | 0 | | | | 5 | | | | 14 | |
Depreciation, depletion and amortization | | | 20 | | | | 0 | | | | 0 | | | | 5 | | | | 15 | |
Other | | | 6 | | | | 0 | | | | 0 | | | | 2 | | | | 5 | |
| | | | | | | | | | | | | | | | | | | | |
Earnings including noncontrolling interests before interest and taxes | | $ | 38 | | | $ | 0 | | | $ | 0 | | | $ | 7 | | | $ | 31 | |
[Dominion Energy continued on following page]
Page 2 of 6
Dominion
Unaudited Supplemental Summary of 2010 Operating Earnings
(millions, except per share amounts)
| | | | | | | | | | | | | | | | | | | | |
| | 12 Months Ended 12/31/10 | | | Quarter ended 12/31/10 | | | Quarter ended 09/30/10 | | | Quarter ended 06/30/10 | | | Quarter Ended 03/31/10 | |
Dominion Energy (cont’d) | | | | | | | | | | | | | | | | | | | | |
Segment Eliminations | | | | | | | | | | | | | | | | | | | | |
Operating revenue | | | ($193 | ) | | | ($37 | ) | | | ($20 | ) | | | ($45 | ) | | | ($91 | ) |
| | | | | | | | | | | | | | | | | | | | |
Expenses: | | | | | | | | | | | | | | | | | | | | |
Commodity purchases | | | (186 | ) | | | (33 | ) | | | (20 | ) | | | (43 | ) | | | (90 | ) |
Purchased electric capacity | | | 0 | | | | 0 | | | | 0 | | | | 0 | | | | 0 | |
Other operations and maintenance | | | (7 | ) | | | (3 | ) | | | (1 | ) | | | (2 | ) | | | (1 | ) |
Depreciation, depletion and amortization | | | 0 | | | | 0 | | | | 0 | | | | 0 | | | | 0 | |
Other | | | 0 | | | | 0 | | | | 0 | | | | 0 | | | | 0 | |
| | | | | | | | | | | | | | | | | | | | |
Earnings including noncontrolling interests before interest and taxes | | $ | 0 | | | | ($1 | ) | | $ | 1 | | | $ | 0 | | | $ | 0 | |
Dominion Energy Total | | | | | | | | | | | | | | | | | | | | |
Operating revenue | | $ | 3,501 | | | $ | 928 | | | $ | 706 | | | $ | 744 | | | $ | 1,123 | |
| | | | | | | | | | | | | | | | | | | | |
Expenses: | | | | | | | | | | | | | | | | | | | | |
Commodity purchases | | | 1,549 | | | | 376 | | | | 316 | | | | 352 | | | | 505 | |
Purchased electric capacity | | | 0 | | | | 0 | | | | 0 | | | | 0 | | | | 0 | |
Other operations and maintenance | | | 747 | | | | 245 | | | | 154 | | | | 150 | | | | 198 | |
Depreciation, depletion and amortization | | | 210 | | | | 49 | | | | 47 | | | | 53 | | | | 61 | |
Other | | | 133 | | | | 38 | | | | 24 | | | | 25 | | | | 46 | |
| | | | | | | | | | | | | | | | | | | | |
Earnings including noncontrolling interests before interest and taxes | | $ | 862 | | | $ | 220 | | | $ | 165 | | | $ | 164 | | | $ | 313 | |
Interest and related charges | | | 85 | | | | 18 | | | | 19 | | | | 21 | | | | 27 | |
Income taxes | | | 302 | | | | 80 | | | | 54 | | | | 57 | | | | 111 | |
Noncontrolling interests | | | 0 | | | | 0 | | | | 0 | | | | 0 | | | | 0 | |
| | | | | | | | | | | | | | | | | | | | |
Operating earnings contribution | | $ | 475 | | | $ | 122 | | | $ | 92 | | | $ | 86 | | | $ | 175 | |
Average shares outstanding, diluted | | | 590.1 | | | | 582.1 | | | | 586.4 | | | | 591.4 | | | | 600.9 | |
| | | | | | | | | | | | | | | | | | | | |
Operating earnings per share contribution | | $ | 0.80 | | | $ | 0.21 | | | $ | 0.16 | | | $ | 0.14 | | | $ | 0.29 | |
| | | | | | | | | | | | | | | | | | | | |
Notes:
• | | Commodity purchases = Electric fuel and other energy-related purchases + Purchased gas |
• | | Other = Other Taxes - Other Income |
• | | Operating segment contribution to operating earnings equals contribution to GAAP earnings |
• | | Figures may not add due to rounding |
Page 3 of 6
Dominion
Unaudited Supplemental Summary of 2010 Operating Earnings
(millions, except per share amounts)
| | | | | | | | | | | | | | | | | | | | |
| | 12 Months Ended 12/31/10 | | | Quarter ended 12/31/10 | | | Quarter ended 09/30/10 | | | Quarter ended 06/30/10 | | | Quarter Ended 03/31/10 | |
Dominion Generation | | | | | | | | | | | | | | | | | | | | |
Utility Generation | | | | | | | | | | | | | | | | | | | | |
Operating revenue | | $ | 5,546 | | | $ | 1,238 | | | $ | 1,658 | | | $ | 1,313 | | | $ | 1,337 | |
| | | | | | | | | | | | | | | | | | | | |
Expenses: | | | | | | | | | | | | | | | | | | | | |
Commodity purchases | | | 2,494 | | | | 580 | | | | 693 | | | | 589 | | | | 632 | |
Purchased electric capacity | | | 434 | | | | 107 | | | | 112 | | | | 108 | | | | 107 | |
Other operations and maintenance | | | 1,010 | | | | 351 | | | | 239 | | | | 215 | | | | 205 | |
Depreciation, depletion and amortization | | | 327 | | | | 83 | | | | 85 | | | | 81 | | | | 78 | |
Other | | | 77 | | | | 7 | | | | 22 | | | | 16 | | | | 32 | |
| | | | | | | | | | | | | | | | | | | | |
Earnings including noncontrolling interests before interest and taxes | | $ | 1,204 | | | $ | 110 | | | $ | 507 | | | $ | 304 | | | $ | 283 | |
Merchant Generation | | | | | | | | | | | | | | | | | | | | |
Operating revenue | | $ | 2,872 | | | $ | 735 | | | $ | 768 | | | $ | 626 | | | $ | 743 | |
| | | | | | | | | | | | | | | | | | | | |
Expenses: | | | | | | | | | | | | | | | | | | | | |
Commodity purchases | | | 814 | | | | 195 | | | | 217 | | | | 178 | | | | 224 | |
Purchased electric capacity | | | 3 | | | | 0 | | | | 2 | | | | 0 | | | | 1 | |
Other operations and maintenance | | | 832 | | | | 228 | | | | 197 | | | | 218 | | | | 189 | |
Other | | | 36 | | | | 15 | | | | (1 | ) | | | 17 | | | | 5 | |
| | | | | | | | | | | | | | | | | | | | |
Earnings before interest, taxes and DD&A | | $ | 1,187 | | | $ | 297 | | | $ | 353 | | | $ | 213 | | | $ | 324 | |
Depreciation, depletion and amortization | | | 135 | | | | 32 | | | | 34 | | | | 34 | | | | 35 | |
| | | | | | | | | | | | | | | | | | | | |
Earnings including noncontrolling interests before interest and taxes | | $ | 1,052 | | | $ | 265 | | | $ | 319 | | | $ | 179 | | | $ | 289 | |
Dominion Generation Total | | | | | | | | | | | | | | | | | | | | |
Operating revenue | | $ | 8,418 | | | $ | 1,973 | | | $ | 2,426 | | | $ | 1,939 | | | $ | 2,080 | |
| | | | | | | | | | | | | | | | | | | | |
Expenses: | | | | | | | | | | | | | | | | | | | | |
Commodity purchases | | | 3,308 | | | | 775 | | | | 910 | | | | 767 | | | | 856 | |
Purchased electric capacity | | | 437 | | | | 107 | | | | 114 | | | | 108 | | | | 108 | |
Other operations and maintenance | | | 1,842 | | | | 579 | | | | 436 | | | | 433 | | | | 394 | |
Depreciation, depletion and amortization | | | 462 | | | | 115 | | | | 119 | | | | 115 | | | | 113 | |
Other | | | 113 | | | | 22 | | | | 21 | | | | 33 | | | | 37 | |
| | | | | | | | | | | | | | | | | | | | |
Earnings including noncontrolling interests before interest and taxes | | $ | 2,256 | | | $ | 375 | | | $ | 826 | | | $ | 483 | | | $ | 572 | |
Interest and related charges | | | 185 | | | | 49 | | | | 48 | | | | 41 | | | | 47 | |
Income taxes | | | 771 | | | | 120 | | | | 289 | | | | 164 | | | | 198 | |
Noncontrolling interests | | | 9 | | | | 3 | | | | 2 | | | | 2 | | | | 2 | |
| | | | | | | | | | | | | | | | | | | | |
Operating earnings contribution | | $ | 1,291 | | | $ | 203 | | | $ | 487 | | | $ | 276 | | | $ | 325 | |
Average shares outstanding, diluted | | | 590.1 | | | | 582.1 | | | | 586.4 | | | | 591.4 | | | | 600.9 | |
| | | | | | | | | | | | | | | | | | | | |
Operating earnings per share contribution | | $ | 2.19 | | | $ | 0.35 | | | $ | 0.83 | | | $ | 0.47 | | | $ | 0.54 | |
| | | | | | | | | | | | | | | | | | | | |
Notes:
• | | Commodity purchases = Electric fuel and other energy-related purchases + Purchased gas |
• | | Other = Other Taxes - Other Income |
• | | Operating segment contribution to operating earnings equals contribution to GAAP earnings |
• | | Figures may not add due to rounding |
Page 4 of 6
Dominion
Unaudited Supplemental Summary of 2010 Operating Earnings
(millions, except per share amounts)
| | | | | | | | | | | | | | | | | | | | |
| | 12 Months Ended 12/31/10 | | | Quarter ended 12/31/10 | | | Quarter ended 09/30/10 | | | Quarter ended 06/30/10 | | | Quarter Ended 03/31/10 | |
THIS SCHEDULE PRESENTS GAAP MEASURES OF REPORTED NET INCOME ATTRIBUTABLE TO DOMINION PLEASE REFER TO THE FOLLOWING PAGE FOR THE OPERATING EARNINGS EQUIVALENT OF THIS SCHEDULE | |
Corporate and Other | | | | | | | | | | | | | | | | | | | | |
Operating revenue | | $ | 769 | | | $ | 170 | | | $ | 166 | | | $ | 161 | | | $ | 272 | |
| | | | | | | | | | | | | | | | | | | | |
Expenses: | | | | | | | | | | | | | | | | | | | | |
Commodity purchases | | | 11 | | | | 1 | | | | 2 | | | | 6 | | | | 2 | |
Purchased electric capacity | | | 0 | | | | 0 | | | | 0 | | | | 0 | | | | 0 | |
Other operations and maintenance | | | 1,271 | | | | 196 | | | | 186 | | | | 321 | | | | 568 | |
Gain on sale of Applachian E&P operations | | | (2,467 | ) | | | 0 | | | | 0 | | | | (2,467 | ) | | | 0 | |
Depreciation, depletion and amortization | | | 30 | | | | 7 | | | | 7 | | | | 8 | | | | 8 | |
Other | | | (26 | ) | | | (25 | ) | | | (24 | ) | | | 52 | | | | (29 | ) |
| | | | | | | | | | | | | | | | | | | | |
Income including noncontrolling interests before interest and taxes | | | 1,950 | | | | (9 | ) | | | (5 | ) | | | 2,241 | | | | (277 | ) |
Interest and related charges | | | 494 | | | | 141 | | | | 143 | | | | 111 | | | | 99 | |
Income taxes | | | 707 | | | | (16 | ) | | | (37 | ) | | | 845 | | | | (85 | ) |
| | | | | | | | | | | | | | | | | | | | |
Income from continuing operations including noncontrolling interests | | | 749 | | | | (134 | ) | | | (111 | ) | | | 1,285 | | | | (291 | ) |
Income (loss) from discontinued operations, net of tax | | | (155 | ) | | | (8 | ) | | | 0 | | | | 2 | | | | (149 | ) |
Noncontrolling interests | | | 0 | | | | 0 | | | | 0 | | | | 0 | | | | 0 | |
| | | | | | | | | | | | | | | | | | | | |
Reported Earnings (Loss) Contribution | | $ | 594 | | | | (142 | ) | | | (111 | ) | | | 1,287 | | | | ($440 | ) |
Average shares outstanding, diluted | | | 590.1 | | | | 582.1 | | | | 586.4 | | | | 591.4 | | | | 600.9 | |
| | | | | | | | | | | | | | | | | | | | |
Reported Earnings (Loss) Per Share Contribution | | $ | 1.01 | | | | ($0.25 | ) | | | ($0.19 | ) | | $ | 2.18 | | | | ($0.73 | ) |
| | | | | | | | | | | | | | | | | | | | |
Total Segment Eliminations and Adjustments | | | | | | | | | | | | | | | | | | | | |
Operating revenue | | | ($1,311 | ) | | | ($325 | ) | | | ($271 | ) | | | ($317 | ) | | | ($398 | ) |
| | | | | | | | | | | | | | | | | | | | |
Expenses: | | | | | | | | | | | | | | | | | | | | |
Commodity purchases | | | (496 | ) | | | (129 | ) | | | (86 | ) | | | (131 | ) | | | (150 | ) |
Purchased electric capacity | | | 0 | | | | 0 | | | | 0 | | | | 0 | | | | 0 | |
Other operations and maintenance | | | (815 | ) | | | (196 | ) | | | (185 | ) | | | (186 | ) | | | (248 | ) |
Depreciation, depletion and amortization | | | 0 | | | | 0 | | | | 0 | | | | 0 | | | | 0 | |
Other | | | 90 | | | | 18 | | | | 21 | | | | 22 | | | | 29 | |
| | | | | | | | | | | | | | | | | | | | |
Income including noncontrolling interests before interest and taxes | | | (90 | ) | | | (18 | ) | | | (21 | ) | | | (22 | ) | | | (29 | ) |
Interest and related charges | | | (90 | ) | | | (18 | ) | | | (21 | ) | | | (22 | ) | | | (29 | ) |
Income taxes | | | 0 | | | | 0 | | | | 0 | | | | 0 | | | | 0 | |
Noncontrolling interests | | | 0 | | | | 0 | | | | 0 | | | | 0 | | | | 0 | |
| | | | | | | | | | | | | | | | | | | | |
Segment Eliminations Earnings (Loss) Contribution | | $ | 0 | | | $ | 0 | | | $ | 0 | | | $ | 0 | | | $ | 0 | |
Average shares outstanding, diluted | | | 590.1 | | | | 582.1 | | | | 586.4 | | | | 591.4 | | | | 600.9 | |
| | | | | | | | | | | | | | | | | | | | |
Segment Eliminations Earnings (Loss) Per Share Contribution | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | |
| | | | | | | | | | | | | | | | | | | | |
Dominion Total | | | | | | | | | | | | | | | | | | | | |
Operating revenue | | $ | 15,197 | | | $ | 3,746 | | | $ | 3,950 | | | $ | 3,333 | | | $ | 4,168 | |
| | | | | | | | | | | | | | | | | | | | |
Expenses: | | | | | | | | | | | | | | | | | | | | |
Commodity purchases | | | 6,200 | | | | 1,486 | | | | 1,547 | | | | 1,347 | | | | 1,820 | |
Purchased electric capacity | | | 453 | | | | 120 | | | | 116 | | | | 109 | | | | 108 | |
Other operations and maintenance | | | 3,724 | | | | 1,015 | | | | 788 | | | | 853 | | | | 1,068 | |
Depreciation, depletion and amortization | | | 1,055 | | | | 261 | | | | 263 | | | | 262 | | | | 269 | |
Other taxes | | | 532 | | | | 127 | | | | 117 | | | | 119 | | | | 169 | |
| | | | | | | | | | | | | | | | | | | | |
Total operating expenses | | | 11,964 | | | | 3,009 | | | | 2,831 | | | | 2,690 | | | | 3,434 | |
| | | | | | | | | | | | | | | | | | | | |
Gain on sale of Appalachian E&P operations | | | 2,467 | | | | 0 | | | | 0 | | | | 2,467 | | | | 0 | |
Income from Operations | | | 5,700 | | | | 737 | | | | 1,119 | | | | 3,110 | | | | 734 | |
| | | | | | | | | | | | | | | | | | | | |
Other income (loss) | | | 169 | | | | 60 | | | | 63 | | | | (25 | ) | | | 71 | |
| | | | | | | | | | | | | | | | | | | | |
Income including noncontrolling interests before interest and taxes | | | 5,869 | | | | 797 | | | | 1,182 | | | | 3,085 | | | | 805 | |
Interest and related charges | | | 832 | | | | 232 | | | | 229 | | | | 188 | | | | 183 | |
Income before taxes | | | 5,037 | | | | 565 | | | | 953 | | | | 2,897 | | | | 622 | |
Income taxes | | | 2,057 | | | | 254 | | | | 374 | | | | 1,134 | | | | 295 | |
| | | | | | | | | | | | | | | | | | | | |
Income from continuing operations including noncontrolling interests | | | 2,980 | | | | 311 | | | | 579 | | | | 1,763 | | | | 327 | |
Income (loss) from discontinued operations, net of tax | | | (155 | ) | | | (8 | ) | | | 0 | | | | 2 | | | | (149 | ) |
Noncontrolling interests | | | 17 | | | | 5 | | | | 4 | | | | 4 | | | | 4 | |
| | | | | | | | | | | | | | | | | | | | |
Net Income attributable to Dominion | | $ | 2,808 | | | $ | 298 | | | $ | 575 | | | $ | 1,761 | | | $ | 174 | |
Average shares outstanding, diluted | | | 590.1 | | | | 582.1 | | | | 586.4 | | | | 591.4 | | | | 600.9 | |
| | | | | | | | | | | | | | | | | | | | |
Consolidated reported earnings per share | | $ | 4.76 | | | $ | 0.51 | | | $ | 0.98 | | | $ | 2.98 | | | $ | 0.29 | |
| | | | | | | | | | | | | | | | | | | | |
Notes:
• | | Commodity purchases = Electric fuel and other energy-related purchases + Purchased gas |
• | | Other = Other Taxes - Other Income |
• | | Figures may not add due to rounding |
Page 5 of 6
Dominion
Unaudited Supplemental Summary of 2010 Operating Earnings
(millions, except per share amounts)
| | | | | | | | | | | | | | | | | | | | |
| | 12 Months Ended 12/31/10 | | | Quarter ended 12/31/10 | | | Quarter ended 09/30/10 | | | Quarter ended 06/30/10 | | | Quarter Ended 03/31/10 | |
THIS SCHEDULE PRESENTS MEASURES OF OPERATING EARNINGS THAT EXCLUDE CERTAIN ITEMS THAT ARE INCLUDED IN GAAP. PLEASE REFER TO THE PRECEDING PAGE FOR THE GAAP EQUIVALENT OF THIS SCHEDULE | |
Corporate and Other1 | | | | | | | | | | | | | | | | | | | | |
Operating revenue | | $ | 737 | | | $ | 177 | | | $ | 166 | | | $ | 164 | | | $ | 230 | |
| | | | | | | | | | | | | | | | | | | | |
Expenses: | | | | | | | | | | | | | | | | | | | | |
Commodity purchases | | | 6 | | | | 1 | | | | 2 | | | | 1 | | | | 2 | |
Purchased electric capacity | | | 0 | | | | 0 | | | | 0 | | | | 0 | | | | 0 | |
Other operations and maintenance | | | 711 | | | | 164 | | | | 173 | | | | 154 | | | | 220 | |
Depreciation, depletion and amortization | | | 30 | | | | 7 | | | | 7 | | | | 8 | | | | 8 | |
Other | | | (67 | ) | | | (11 | ) | | | (17 | ) | | | (18 | ) | | | (21 | ) |
| | | | | | | | | | | | | | | | | | | | |
Earnings including noncontrolling interests before interest and taxes | | | 57 | | | | 16 | | | | 1 | | | | 19 | | | | 21 | |
Interest and related charges | | | 494 | | | | 141 | | | | 143 | | | | 111 | | | | 99 | |
Income taxes | | | (194 | ) | | | (51 | ) | | | (59 | ) | | | (44 | ) | | | (40 | ) |
Noncontrolling interests | | | 0 | | | | 0 | | | | 0 | | | | 0 | | | | 0 | |
| | | | | | | | | | | | | | | | | | | | |
Operating earnings contribution | | | ($243 | ) | | | ($74 | ) | | | ($83 | ) | | | ($48 | ) | | | ($38 | ) |
Average shares outstanding, diluted | | | 590.1 | | | | 582.1 | | | | 586.4 | | | | 591.4 | | | | 600.9 | |
| | | | | | | | | | | | | | | | | | | | |
Operating earnings per share contribution | | | ($0.41 | ) | | | ($0.13 | ) | | | ($0.14 | ) | | | ($0.08 | ) | | | ($0.06 | ) |
| | | | | | | | | | | | | | | | | | | | |
Total Segment Eliminations and Adjustments | | | | | | | | | | | | | | | | | | | | |
Operating revenue | | | ($1,311 | ) | | | ($325 | ) | | | ($271 | ) | | | ($317 | ) | | | ($398 | ) |
| | | | | | | | | | | | | | | | | | | | |
Expenses: | | | | | | | | | | | | | | | | | | | | |
Commodity purchases | | | (496 | ) | | | (129 | ) | | | (86 | ) | | | (131 | ) | | | (150 | ) |
Purchased electric capacity | | | 0 | | | | 0 | | | | 0 | | | | 0 | | | | 0 | |
Other operations and maintenance | | | (815 | ) | | | (196 | ) | | | (185 | ) | | | (186 | ) | | | (248 | ) |
Depreciation, depletion and amortization | | | 0 | | | | 0 | | | | 0 | | | | 0 | | | | 0 | |
Other | | | 90 | | | | 18 | | | | 21 | | | | 22 | | | | 29 | |
| | | | | | | | | | | | | | | | | | | | |
Earnings including noncontrolling interests before interest and taxes | | | (90 | ) | | | (18 | ) | | | (21 | ) | | | (22 | ) | | | (29 | ) |
Interest and related charges | | | (90 | ) | | | (18 | ) | | | (21 | ) | | | (22 | ) | | | (29 | ) |
Income taxes | | | 0 | | | | 0 | | | | 0 | | | | 0 | | | | 0 | |
Noncontrolling interests | | | 0 | | | | 0 | | | | 0 | | | | 0 | | | | 0 | |
| | | | | | | | | | | | | | | | | | | | |
Operating earnings contribution | | $ | 0 | | | $ | 0 | | | $ | 0 | | | $ | 0 | | | $ | 0 | |
Average shares outstanding, diluted | | | 590.1 | | | | 582.1 | | | | 586.4 | | | | 591.4 | | | | 600.9 | |
| | | | | | | | | | | | | | | | | | | | |
Operating earnings per share contribution | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | |
| | | | | | | | | | | | | | | | | | | | |
Dominion Total1 | | | | | | | | | | | | | | | | | | | | |
Operating revenue | | $ | 15,165 | | | $ | 3,753 | | | $ | 3,950 | | | $ | 3,336 | | | $ | 4,126 | |
| | | | | | | | | | | | | | | | | | | | |
Expenses: | | | | | | | | | | | | | | | | | | | | |
Commodity purchases | | | 6,195 | | | | 1,486 | | | | 1,547 | | | | 1,342 | | | | 1,820 | |
Purchased electric capacity | | | 453 | | | | 120 | | | | 116 | | | | 109 | | | | 108 | |
Other operations and maintenance | | | 3,164 | | | | 983 | | | | 775 | | | | 686 | | | | 720 | |
Depreciation, depletion and amortization | | | 1,055 | | | | 261 | | | | 263 | | | | 262 | | | | 269 | |
Other | | | 322 | | | | 81 | | | | 61 | | | | 74 | | | | 106 | |
| | | | | | | | | | | | | | | | | | | | |
Earnings including noncontrolling interests before interest and taxes | | $ | 3,976 | | | $ | 822 | | | $ | 1,188 | | | $ | 863 | | | $ | 1,103 | |
Interest and related charges | | | 832 | | | | 232 | | | | 229 | | | | 188 | | | | 183 | |
Income taxes | | | 1,156 | | | | 219 | | | | 352 | | | | 245 | | | | 340 | |
Noncontrolling interests | | | 17 | | | | 5 | | | | 4 | | | | 4 | | | | 4 | |
| | | | | | | | | | | | | | | | | | | | |
Consolidated operating earnings attributable to Dominion | | $ | 1,971 | | | $ | 366 | | | $ | 603 | | | $ | 426 | | | $ | 576 | |
Average shares outstanding, diluted | | | 590.1 | | | | 582.1 | | | | 586.4 | | | | 591.4 | | | | 600.9 | |
| | | | | | | | | | | | | | | | | | | | |
Consolidated operating earnings per share | | $ | 3.34 | | | $ | 0.63 | | | $ | 1.03 | | | $ | 0.72 | | | $ | 0.96 | |
| | | | | | | | | | | | | | | | | | | | |
1) | For detail on items excluded from operating earnings, visit Dominion’s Investor Relations website at www.dom.com/investors under “GAAP” Reconciliation”. |
Notes:
• | | Commodity purchases = Electric fuel and other energy-related purchases + Purchased gas |
• | | Other = Other Taxes - Other Income |
• | | Figures may not add due to rounding |
Page 6 of 6