$ millions and $ per diluted share unless otherwise noted Operational Earnings 2005 2005 2004 2004 2003 2003 Net income (loss) available for common stock 1,712 2.50 (386) (0.64) 560 0.81 Income from discontinued operations, net of tax effect (5) (0.01) (378) (0.63) (74) (0.10) Extraordinary (gain) loss, net of tax effect 50 0.10 (16) (0.03) - - Cumulative effect of changes in accounting principles, net of tax effect 8 0.02 (10) (0.02) 58 0.08 Exchangeable preferred membership interest buyback premium - - 849 1.41 - - Preference stock dividends 10 0.02 22 0.04 22 0.03 Income from continuing operations1 1,775 2.63 81 0.13 566 0.82 Operations subsequently discontinued, principally TXU Gas and TXU Australia - - - - 171 0.22 Effect of ASR true-up - 1.02 - - - - Effect of share dilution/rounding - 0.01 - 0.03 - - Preference stock dividends (10) (0.02) (22) (0.04) (22) (0.03) Special items (150) (0.31) 828 1.29 - - Operational earnings 1,615 3.33 887 1.41 715 1.01 Return on Average Invested Capital (ROIC) 2005 2004 20032 20033 Net income 1,722 485 582 582 After-tax interest expense and related charges* 490 434 605 486 Total return (on net income) 2,212 919 1,187 1,068 Operational earnings 1,615 887 715 544 Preference stock dividends 10 22 22 22 After-tax interest expense and related charges* 490 434 605 486 Total return (on operational earnings) 2,115 1,343 1,342 1,052 Average total capitalization 13,692 16,019 20,496 18,831 ROIC - based on adjusted net income (%) 16.2 5.7 5.7 5.7 ROIC - based on adjusted operational earnings (%) 15.4 8.4 6.5 5.6 * After-tax interest expense and related charges    net of interest income: Interest expense and related charges 802 695 975 784 Interest income (48) (28) (44) (36) Net 754 667 931 748 Tax at 35% (264) (233) (326) (262) Net of tax 490 434 605 486 Interest and Debt Coverage Ratios 2005 2004 20032 20033 Cash provided by operating activities 2,793 1,758 2,798 2,413 Reconciling adjustments from cash flow statement (1,018) (1,677) (2,061) (1,847) Income from continuing operations1 1,775 81 737 566 Income tax expense 632 42 314 252 Interest expense and related charges 802 695 975 784 Interest income (48) (28) (44) (36) Depreciation and amortization 776 760 886 724 EBITDA 3,937 1,550 2,868 2,290 Special items (18) 1,190 - - EBITDA (excluding special items) 3,919 2,740 2,868 2,290 Interest expense and related charges 802 695 975 784 Amortization of debt discount and issuance expense (18) (27) (39) (31) Capitalized interest 17 12 12 12 Cash interest expense 801 680 948 765 Total debt 13,380 12,889 14,403 12,590 Transition bonds (1,167) (1,258) (500) (500) Debt-related restricted cash - - (525) (525) Total debt less transition bonds and debt-related restricted cash 12,213 11,631 13,378 11,565 EBITDA/interest (ratio) 4.9 4.0 3.0 3.0 Debt/EBITDA (ratio) 3.1 4.2 4.7 5.1 Cash provided by operating activities + cash interest expense/cash interest expense (ratio) 4.5 3.6 4.0 4.2 Total debt/cash flow from operating activities (ratio) 4.8 7.3 5.1 5.2 Normalized Operating and Free Cash Flow 2005 2004 20032 20033 Cash provided by operating activities 2,793 1,758 2,798 2,413 Special items 109 284 - - 2003 tax refund - - (601) (601) 2002 collections in 2003 - - (337) (337) Normalized operating cash flow 2,902 2,042 1,860 1,475 Capital expenditures (1,047) (912) (956) (721) Nuclear fuel (57) (87) (44) (44) Normalized free cash flow 1,798 1,043 860 710 1 Before extraordinary items and cumulative effect of changes in accounting principles. 2 As originally reported, which includes operations subsequently discontinued, principally TXU Gas and TXU Australia. 3 Reclassified for discontinued operations in accordance with GAAP.