EXHIBIT 99
TXU CORP. AND SUBSIDIARIES
CONDENSED STATEMENTS OF CONSOLIDATED INCOME
(Unaudited)
Twelve Months Ended
March 31,
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2001 2000
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Millions of Dollars
Operating revenues..................................................................................... $25,608 $17,426
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Operating expenses
Energy purchased for resale and fuel consumed..................................................... 17,947 9,516
Operation and maintenance......................................................................... 3,245 3,370
Depreciation and other amortization............................................................... 1,003 1,099
Goodwill amortization............................................................................. 210 195
Taxes other than income........................................................................... 678 643
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Total operating expenses.................................................................... 23,083 14,823
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Operating income....................................................................................... 2,525 2,603
Other income -- net.................................................................................... 223 280
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Income before interest, other
charges and income taxes.......................................................................... 2,748 2,883
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Interest income........................................................................................ 121 138
Interest expense and other charges
Interest.......................................................................................... 1,479 1,463
Distribution on mandatorily redeemable, preferred
securities of subsidiary trusts, each holding solely junior
subordinated debentures of the obligated company:
TXU obligated........................................................................... 31 20
Subsidiary obligated.................................................................... 78 79
Preferred stock dividends of subsidiaries......................................................... 13 14
Distributions on preferred securities of subsidiary perpetual
trust of TXU Europe......................................................................... 15 1
Allowance for borrowed funds used during
construction and capitalized interest....................................................... (14) (9)
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Total interest expense and other charges............................................... 1,602 1,568
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Income before income taxes............................................................................. 1,267 1,453
Income tax expense..................................................................................... 343 457
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Net income............................................................................................. 924 996
Preference stock dividends............................................................................. 17 --
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Net income available for common stock.................................................................. $ 907 $ 996
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Average shares of common stock outstanding (millions).................................................. 260 276
Per share of common stock:
Basic earnings.................................................................................... $3.49 $3.60
Diluted earnings.................................................................................. $3.49 $3.60
Dividends declared................................................................................ $2.40 $2.35