Exhibit 99.7
CINERGY CORP.
BUSINESS SEGMENT EARNINGS DRIVER ANALYSIS
For the Year to Date June 30, 2004
(unaudited)
Commercial Businesses |
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Earnings Per Share - diluted - 2003 |
| $ | 0.91 |
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Cumulative effect of a change in accounting principles |
| (0.15 | ) | |
Discontinued operations |
| (0.05 | ) | |
Employee retirement/severance and other charges |
| (0.02 | ) | |
Weather |
| 0.01 |
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Electric sales volumes |
| 0.02 |
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Power marketing, trading and origination |
| 0.09 |
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Gas marketing, trading and origination |
| (0.14 | ) | |
Energy services |
| 0.05 |
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Fuel costs |
| (0.07 | ) | |
Emissions allowances |
| (0.10 | ) | |
Transmission expenses |
| (0.03 | ) | |
Operating and administrative expenses |
| (0.03 | ) | |
Maintenance expense |
| (0.01 | ) | |
Depreciation |
| 0.03 |
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Financing and dilution |
| (0.03 | ) | |
Effective tax rate |
| (0.02 | ) | |
Other - net |
| (0.04 | ) | |
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Earnings Per Share - diluted - 2004 |
| $ | 0.42 |
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Regulated Businesses |
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Earnings Per Share - diluted - 2003 |
| $ | 0.57 |
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Employee retirement/severance and other charges |
| (0.02 | ) | |
Weather |
| 0.02 |
| |
Electric sales volumes |
| 0.08 |
| |
Price increases |
| 0.05 |
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Other electric revenues |
| 0.03 |
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Operating and administrative expenses |
| (0.02 | ) | |
Maintenance expense |
| (0.01 | ) | |
Depreciation |
| (0.08 | ) | |
Financing and dilution |
| (0.01 | ) | |
Other - net |
| 0.02 |
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Earnings Per Share - diluted - 2004 |
| $ | 0.63 |
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Power Technology & Infrastructure Services |
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Earnings Per Share - diluted - 2003 |
| $ | (0.06 | ) |
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Employee retirement/severance and other charges |
| (0.12 | ) | |
Results of investments |
| 0.02 |
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Earnings Per Share - diluted - 2004 |
| $ | (0.16 | ) |