Exhibit 99.2
CINERGY CORP.
CONSOLIDATED STATEMENTS OF INCOME
For the Periods Ended March 31, 2005 and 2004
(unaudited)
(dollars in thousands, except per share amounts)
|
| Quarter Ended |
| ||||
|
| 2005 |
| 2004 |
| ||
|
|
|
|
|
| ||
Operating Revenues |
|
|
|
|
| ||
Electric |
| $ | 926,297 |
| $ | 858,436 |
|
Gas |
| 313,096 |
| 350,846 |
| ||
Other |
| 104,856 |
| 79,376 |
| ||
Total Operating Revenues |
| 1,344,249 |
| 1,288,658 |
| ||
|
|
|
|
|
| ||
Operating Expenses |
|
|
|
|
| ||
Fuel, emission allowances and purchased power |
| 304,963 |
| 293,890 |
| ||
Gas purchased |
| 208,600 |
| 223,516 |
| ||
Costs of fuel resold |
| 85,843 |
| 57,462 |
| ||
Operation and maintenance |
| 331,708 |
| 310,836 |
| ||
Depreciation |
| 126,486 |
| 104,857 |
| ||
Taxes other than income taxes |
| 78,932 |
| 82,247 |
| ||
Total Operating Expenses |
| 1,136,532 |
| 1,072,808 |
| ||
|
|
|
|
|
| ||
Operating Income |
| 207,717 |
| 215,850 |
| ||
|
|
|
|
|
| ||
Equity in Earnings of Unconsolidated Subsidiaries |
| 4,836 |
| 2,748 |
| ||
Miscellaneous Income (Expense) - Net |
| 2,340 |
| (15,508 | ) | ||
Interest Expense |
| 64,064 |
| 67,395 |
| ||
Preferred Dividend Requirements of Subsidiaries |
| 858 |
| 858 |
| ||
|
|
|
|
|
| ||
Income Before Taxes |
| 149,971 |
| 134,837 |
| ||
|
|
|
|
|
| ||
Income Taxes |
| 32,615 |
| 31,822 |
| ||
|
|
|
|
|
| ||
Net Income |
| $ | 117,356 |
| $ | 103,015 |
|
|
|
|
|
|
| ||
Average Common Shares Outstanding - Basic |
| 195,647 |
| 179,261 |
| ||
|
|
|
|
|
| ||
Earnings Per Common Share - Basic |
| $ | 0.60 |
| $ | 0.57 |
|
|
|
|
|
|
| ||
Average Common Shares Outstanding - Diluted |
| 196,712 |
| 181,926 |
| ||
|
|
|
|
|
| ||
Earnings Per Common Share - Diluted |
| $ | 0.60 |
| $ | 0.57 |
|
|
|
|
|
|
| ||
Cash Dividends Declared Per Common Share |
| $ | 0.48 |
| $ | 0.47 |
|
Note: Prior year data has been reclassified to conform with current year presentation.