|
|
|
|
|
|
|
|
|
|
|
|
|
| 2001 Financial Highlights |
|
|
|
|
|
|
|
|
|
|
|
| (In millions, except volumes and per-share amounts) |
|
|
2001 |
|
|
2000 |
|
|
% Change Increase (Decrease) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Assets |
|
|
$42,275 |
|
|
$44,994 |
|
|
-6.0% |
|
|
|
|
|
|
|
|
|
|
| Operating revenues |
|
|
$27,927 |
|
|
$22,009 |
|
|
26.9% |
|
|
|
|
|
|
|
|
|
|
| Energy purchased for resale and fuel consumed |
|
|
$19,793 |
|
|
$14,451 |
|
|
37.0% |
|
|
|
|
|
|
|
|
|
|
| Gross margin |
|
|
$8,134 |
|
|
$7,558 |
|
|
7.6% |
|
|
|
|
|
|
|
|
|
|
| Net income available for common stock |
|
|
$655 |
|
|
$904 |
|
|
-27.5% |
|
|
|
|
|
|
|
|
|
|
| Earnings per common share (on average shares outstanding) |
|
|
$2.52 |
|
|
$3.43 |
|
|
-26.5% |
|
|
|
|
|
|
|
|
|
|
| Earnings per share excluding unusual items (on average shares outstanding)1 |
|
|
$3.78 |
|
|
$3.43 |
|
|
10.2% |
|
|
|
|
|
|
|
|
|
|
| Dividends declared per share |
|
|
$2.40 |
|
|
$2.40 |
|
|
0.0% |
|
|
|
|
|
|
|
|
|
|
| Book value per share |
|
|
$28.88 |
|
|
$28.97 |
|
|
-0.3% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Electric energy sales in terawatt-hours to end users |
|
|
161 |
|
|
152 |
|
|
5.9% |
|
|
|
|
|
|
|
|
|
|
| Natural gas sales in billion cubic feet to end users |
|
|
353 |
|
|
317 |
|
|
11.4% |
|
|
|
|
|
|
|
|
|
|
| Customers (end of year in thousands) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Electric |
|
|
7,656 |
|
|
7,547 |
|
|
1.4% |
|
|
|
|
|
|
|
|
|
|
|
Natural gas |
|
|
3,147 |
|
|
2,984 |
|
|
5.5% |
|
|
|
|
|
|
|
|
|
|
|
Telephone (access) lines2 |
|
|
225 |
|
|
181 |
|
|
24.3% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Employees |
|
|
18,301 |
|
|
16,540 |
|
|
10.6% |
|
|
|
|
|
|
|
|
|
|
|
Includes the results of operations of Stadtwerke Kiel, Norweb Energi, and Optima from their respective dates of acquisition, January 2001, August 2000, and May 2000.
|
|
| 1 |
For the purposes of discussing operating results, the following items, disclosed in the company’s earnings releases and SEC filings, have been excluded. For 2001, these items include extraordinary charges for debt refinancing and settlement-related costs necessitated by our transition to competition in the Texas electricity market ($.60); the write-off of wholesale regulatory assets at TXU Electric ($.07); restructuring costs at TXU Europe and a loss, after transaction costs, associated with the divestiture of its UK electric networks business ($.51); and the write-off of assets associated with the collapse of Enron’s operations ($.08). For 2000, similarly excluded items affect comparisons of segment results but had no impact on earnings per share. |
| 2 |
TXU Communications Ventures, of which TXU holds a 50% interest. |
|
  |
|
