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In millions, except per share items | Dec-31-22 | Dec-31-21 | Dec-31-20 | Dec-31-19 | Dec-31-18 | Dec-31-17 | Dec-31-16 | Dec-31-15 |
| 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K |
Revenues: |
Regulated Electric | 12,123.0 | 11,205.0 | 9,802.0 | 9,575.0 | 9,719.0 | | | 9,278.0 |
Other | 275.0 | 209.0 | 210.0 | 169.0 | 198.0 | | | |
All Other | 107.0 | 94.0 | 88.0 | 86.0 | 79.0 | | | 76.0 |
Other | 2,805.0 | 1,923.0 | 1,426.0 | 1,699.0 | 1,541.0 | | | 1,670.0 |
Total revenues [+] | 15,310.0 | 13,431.0 | 11,526.0 | 11,529.0 | 11,537.0 | 11,404.0 | 11,107.0 | 11,024.0 |
Other | | | | | | | | 76.0 |
Revenue growth [+] | 14.0% | 16.5% | 0.0% | -0.1% | 1.2% | 2.7% | 0.8% | -5.7% |
Regulated Electric | 8.2% | 14.3% | 2.4% | -1.5% | | | | -2.0% |
Other | 31.6% | -0.5% | 24.3% | -14.6% | | | | |
All Other | 13.8% | 6.8% | 2.3% | 8.9% | | | | -1.9% |
Regulated Natural Gas | | | | | | | | -22.1% |
Cost of goods sold | 732.0 | 668.0 | 649.0 | 609.0 | 591.0 | 34.0 | 3,754.0 | 36.0 |
Gross profit | 14,578.0 | 12,763.0 | 10,877.0 | 10,920.0 | 10,946.0 | 11,370.0 | 7,353.0 | 10,988.0 |
Gross margin | 95.2% | 95.0% | 94.4% | 94.7% | 94.9% | 99.7% | 66.2% | 99.7% |
Selling, general and administrative [+] | 181.0 | 103.0 | 110.0 | 101.0 | 127.0 | 545.0 | 532.0 | 512.0 |
General and administrative [+] | 181.0 | 103.0 | 110.0 | 101.0 | 127.0 | 545.0 | 532.0 | 512.0 |
Operating taxes | | | | | | 545.0 | 532.0 | 512.0 |
Equity in earnings | 36.0 | 62.0 | 40.0 | 39.0 | 35.0 | 30.0 | 42.0 | 34.0 |
Other operating expenses | 11,969.0 | 10,457.0 | 8,651.0 | 8,715.0 | 8,854.0 | 8,602.0 | 4,581.0 | 8,476.0 |
EBITDA [+] | 4,900.0 | 4,408.0 | 4,115.0 | 3,928.0 | 3,659.0 | 3,748.0 | 3,601.0 | 3,177.0 |
EBITDA growth | 11.2% | 7.1% | 4.8% | 7.4% | -2.4% | 4.1% | 13.3% | 7.5% |
EBITDA margin | 32.0% | 32.8% | 35.7% | 34.1% | 31.7% | 32.9% | 32.4% | 28.8% |
Depreciation and amortization | 2,436.0 | 2,143.0 | 1,959.0 | 1,785.0 | 1,659.0 | 1,495.0 | 1,319.0 | 1,143.0 |
EBIT [+] | 2,464.0 | 2,265.0 | 2,156.0 | 2,143.0 | 2,000.0 | 2,253.0 | 2,282.0 | 2,034.0 |
EBIT growth | 8.8% | 5.1% | 0.6% | 7.1% | -11.2% | -1.3% | 12.2% | 6.0% |
EBIT margin | 16.1% | 16.9% | 18.7% | 18.6% | 17.3% | 19.8% | 20.5% | 18.5% |
Interest expense, net [+] | 953.0 | 842.0 | 840.0 | 773.0 | 700.0 | 663.0 | 647.0 | 589.0 |
Interest expense | 953.0 | 842.0 | 840.0 | 773.0 | 700.0 | 663.0 | 647.0 | 595.0 |
Interest income | | | | | | | | 6.0 |
Other income (expense), net | 90.0 | 104.0 | 151.0 | 130.0 | 142.0 | 100.0 | 69.0 | 82.0 |
Pre-tax income | 1,601.0 | 1,527.0 | 1,467.0 | 1,500.0 | 1,442.0 | 1,690.0 | 1,704.0 | 1,527.0 |
Income taxes | -135.0 | -70.0 | -6.0 | 128.0 | 181.0 | 542.0 | 581.0 | 543.0 |
Tax rate | | | | 8.5% | 12.6% | 32.1% | 34.1% | 35.6% |
Net income | 1,736.0 | 1,597.0 | 1,473.0 | 1,372.0 | 1,261.0 | 1,148.0 | 1,123.0 | 984.0 |
Net margin | 11.3% | 11.9% | 12.8% | 11.9% | 10.9% | 10.1% | 10.1% | 8.9% |
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Basic EPS [+] | $3.17 | $2.96 | $2.80 | $2.64 | $2.47 | $2.26 | $2.21 | $1.94 |
Growth | 7.1% | 6.0% | 5.7% | 7.1% | 9.4% | 2.2% | 13.9% | -4.4% |
Diluted EPS [+] | $3.17 | $2.96 | $2.79 | $2.64 | $2.47 | $2.26 | $2.21 | $1.94 |
Growth | 7.3% | 6.0% | 5.7% | 6.9% | 9.4% | 2.2% | 13.9% | -4.4% |
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Dividends per share [+] | | | | | | $1.44 | $1.36 | $1.28 |
Growth | | | | | -100.0% | 5.9% | 6.3% | 6.7% |
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Shares outstanding (basic) [+] | 547.0 | 539.0 | 527.0 | 519.0 | 511.0 | 509.0 | 509.0 | 507.8 |
Growth | 1.5% | 2.3% | 1.5% | 1.6% | 0.4% | 0.0% | 0.2% | 0.8% |
Shares outstanding (diluted) [+] | 547.0 | 540.0 | 528.0 | 520.0 | 511.0 | 509.0 | 509.0 | 508.0 |
Growth | 1.3% | 2.3% | 1.5% | 1.8% | 0.4% | 0.0% | 0.2% | 0.8% |
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EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |
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