Attached files
EXHIBIT 99.4
Dominion
Unaudited Supplemental Summary of 2009 Operating Earnings
(millions, except per share amounts)
| Year Ended 12/31/09 |
Quarter ended 12/31/09 |
Quarter ended 09/30/09 |
Quarter ended 06/30/09 |
Quarter Ended 03/31/09 | ||||||||||
| Dominion Virginia Power |
||||||||||||||
| Electric Distribution |
||||||||||||||
| Operating revenue |
$1,210 | $284 | $314 | $294 | $318 | |||||||||
| Expenses: |
||||||||||||||
| Commodity purchases |
0 | 0 | 0 | 0 | 0 | |||||||||
| Purchased electric capacity |
0 | 0 | 0 | 0 | 0 | |||||||||
| Other operations and maintenance |
398 | 107 | 97 | 94 | 99 | |||||||||
| Depreciation, depletion and amortization |
278 | 71 | 70 | 69 | 68 | |||||||||
| Other |
43 | 11 | 10 | 9 | 12 | |||||||||
| Earnings including noncontrolling interests before interest and taxes |
$491 | $95 | $137 | $121 | $138 | |||||||||
| Electric Transmission |
||||||||||||||
| Operating revenue |
$302 | $86 | $74 | $70 | $72 | |||||||||
| Expenses: |
||||||||||||||
| Commodity purchases |
0 | 0 | 0 | 0 | 0 | |||||||||
| Purchased electric capacity |
0 | 0 | 0 | 0 | 0 | |||||||||
| Other operations and maintenance |
119 | 37 | 30 | 25 | 27 | |||||||||
| Depreciation, depletion and amortization |
42 | 12 | 11 | 11 | 9 | |||||||||
| Other |
(21 | ) | (6 | ) | (5 | ) | (5 | ) | (5) | |||||
| Earnings including noncontrolling interests before interest and taxes |
$162 | $43 | $38 | $40 | $41 | |||||||||
| Dominion Retail |
||||||||||||||
| Operating revenue |
$1,770 | $493 | $298 | $316 | $662 | |||||||||
| Expenses: |
||||||||||||||
| Commodity purchases |
1,526 | 414 | 249 | 275 | 589 | |||||||||
| Purchased electric capacity |
0 | 0 | 0 | 0 | 0 | |||||||||
| Other operations and maintenance |
85 | 24 | 20 | 21 | 20 | |||||||||
| Depreciation, depletion and amortization |
21 | 3 | 7 | 6 | 5 | |||||||||
| Other |
8 | 2 | 2 | 2 | 3 | |||||||||
| Earnings including noncontrolling interests before interest and taxes |
$130 | $51 | $20 | $14 | $46 | |||||||||
| Segment Eliminations |
||||||||||||||
| Operating revenue |
$0 | $0 | $0 | $0 | $0 | |||||||||
| Expenses: |
||||||||||||||
| Commodity purchases |
0 | 0 | 0 | 0 | 0 | |||||||||
| Purchased electric capacity |
0 | 0 | 0 | 0 | 0 | |||||||||
| Other operations and maintenance |
0 | 0 | 0 | 0 | 0 | |||||||||
| Depreciation, depletion and amortization |
0 | 0 | 0 | 0 | 0 | |||||||||
| Other |
0 | 0 | 0 | 0 | 0 | |||||||||
| Earnings including noncontrolling interests before interest and taxes |
$0 | $0 | $0 | $0 | $0 | |||||||||
| Dominion Virginia Power Total |
||||||||||||||
| Operating revenue |
$3,281 | $863 | $686 | $680 | $1,052 | |||||||||
| Expenses: |
||||||||||||||
| Commodity purchases |
1,527 | 414 | 249 | 275 | 589 | |||||||||
| Purchased electric capacity |
0 | 0 | 0 | 0 | 0 | |||||||||
| Other operations and maintenance |
602 | 168 | 148 | 140 | 146 | |||||||||
| Depreciation, depletion and amortization |
341 | 85 | 88 | 86 | 82 | |||||||||
| Other |
27 | 7 | 6 | 4 | 10 | |||||||||
| Earnings including noncontrolling interests before interest and taxes |
784 | 189 | 195 | 175 | 225 | |||||||||
| Interest and related charges |
159 | 39 | 42 | 39 | 39 | |||||||||
| Income taxes |
233 | 56 | 56 | 52 | 69 | |||||||||
| Noncontrolling interests |
8 | 2 | 2 | 2 | 2 | |||||||||
| Operating earnings contribution |
$384 | $92 | $95 | $82 | $115 | |||||||||
| Average shares outstanding, diluted |
593.7 | 598.1 | 596.3 | 594.0 | 585.7 | |||||||||
| Operating earnings per share contribution |
$0.65 | $0.15 | $0.16 | $0.14 | $0.20 | |||||||||
Notes:
- Commodity purchases = Electric fuel and other energy-related purchases + Purchased gas
- Other = Other Taxes - Other Income
- Operating segment contribution to operating earnings equals contribution to GAAP earnings
- Figures may not add due to rounding
Page 1 of 6
Dominion
Unaudited Supplemental Summary of 2009 Operating Earnings
(millions, except per share amounts)
| Year Ended 12/31/09 |
Quarter ended 12/31/09 |
Quarter ended 09/30/09 |
Quarter ended 06/30/09 |
Quarter Ended 03/31/09 | ||||||||||
| Dominion Energy |
||||||||||||||
| Gas Distribution (DEO & HGI)1 |
||||||||||||||
| Operating revenue |
$1,208 | $294 | $133 | $187 | $594 | |||||||||
| Expenses: |
||||||||||||||
| Commodity purchases |
513 | 107 | 33 | 60 | 313 | |||||||||
| Purchased electric capacity |
0 | 0 | 0 | 0 | 0 | |||||||||
| Other operations and maintenance |
369 | 100 | 61 | 72 | 135 | |||||||||
| Depreciation, depletion and amortization |
61 | 16 | 15 | 15 | 15 | |||||||||
| Other |
100 | 29 | 11 | 15 | 44 | |||||||||
| Earnings including noncontrolling interests before interest and taxes |
$165 | $42 | $12 | $23 | $87 | |||||||||
| Gas Transmission |
||||||||||||||
| Operating revenue |
$1,036 | $277 | $246 | $257 | $256 | |||||||||
| Expenses: |
||||||||||||||
| Commodity purchases |
67 | 16 | 17 | 20 | 13 | |||||||||
| Purchased electric capacity |
0 | 0 | 0 | 0 | 0 | |||||||||
| Other operations and maintenance |
279 | 84 | 67 | 63 | 65 | |||||||||
| Depreciation, depletion and amortization |
120 | 31 | 30 | 30 | 29 | |||||||||
| Other |
27 | 8 | 8 | 6 | 6 | |||||||||
| Earnings including noncontrolling interests before interest and taxes |
$542 | $138 | $123 | $137 | $144 | |||||||||
| Producer Services |
||||||||||||||
| Operating revenue |
$1,633 | $409 | $362 | $364 | $499 | |||||||||
| Expenses: |
||||||||||||||
| Commodity purchases |
1,529 | 373 | 348 | 358 | 450 | |||||||||
| Purchased electric capacity |
0 | 0 | 0 | 0 | 0 | |||||||||
| Other operations and maintenance |
22 | 7 | 5 | 4 | 6 | |||||||||
| Depreciation, depletion and amortization |
1 | 0 | 0 | 0 | 0 | |||||||||
| Other |
(5 | ) | (1 | ) | (1 | ) | (2 | ) | (2) | |||||
| Earnings including noncontrolling interests before interest and taxes |
$86 | $30 | $9 | $2 | $44 | |||||||||
| E&P |
||||||||||||||
| Operating revenue |
$315 | $80 | $69 | $70 | $95 | |||||||||
| Expenses: |
||||||||||||||
| Commodity purchases |
1 | 0 | 0 | 0 | 0 | |||||||||
| Purchased electric capacity |
0 | 0 | 0 | 0 | 0 | |||||||||
| Other operations and maintenance |
69 | 19 | 18 | 16 | 16 | |||||||||
| Depreciation, depletion and amortization |
76 | 17 | 16 | 16 | 26 | |||||||||
| Other |
12 | 4 | 0 | 3 | 4 | |||||||||
| Earnings including noncontrolling interests before interest and taxes |
$158 | $40 | $34 | $34 | $49 | |||||||||
[Dominion Energy continued on following page]
Page 2 of 6
Dominion
Unaudited Supplemental Summary of 2009 Operating Earnings
(millions, except per share amounts)
| Year Ended 12/31/09 |
Quarter ended 12/31/09 |
Quarter ended 09/30/09 |
Quarter ended 06/30/09 |
Quarter Ended 03/31/09 | ||||||
| Dominion Energy (cont’d) |
||||||||||
| Segment Eliminations1 |
||||||||||
| Operating revenue |
($381) | ($98) | ($95) | ($93) | ($95) | |||||
| Expenses: |
||||||||||
| Commodity purchases |
(377) | (97) | (94) | (92) | (94) | |||||
| Purchased electric capacity |
0 | 0 | 0 | 0 | 0 | |||||
| Other operations and maintenance |
(4) | (1) | (1) | (1) | (1) | |||||
| Depreciation, depletion and amortization |
0 | 0 | 0 | 0 | 0 | |||||
| Other |
0 | 0 | 0 | 0 | 0 | |||||
| Earnings including noncontrolling interests before interest and taxes |
$0 | $0 | $0 | $0 | $0 | |||||
| Dominion Energy Total1 |
||||||||||
| Operating revenue |
$3,810 | $962 | $714 | $785 | $1,349 | |||||
| Expenses: |
||||||||||
| Commodity purchases |
1,733 | 400 | 305 | 347 | 682 | |||||
| Purchased electric capacity |
0 | 0 | 0 | 0 | 0 | |||||
| Other operations and maintenance |
735 | 209 | 150 | 155 | 220 | |||||
| Depreciation, depletion and amortization |
258 | 64 | 62 | 62 | 71 | |||||
| Other |
135 | 39 | 18 | 24 | 53 | |||||
| Earnings including noncontrolling interests before interest and taxes |
949 | 250 | 179 | 197 | 323 | |||||
| Interest and related charges |
113 | 28 | 28 | 29 | 28 | |||||
| Income taxes |
319 | 77 | 57 | 66 | 118 | |||||
| Noncontrolling interests |
0 | 0 | 0 | 0 | 0 | |||||
| Operating earnings contribution |
$517 | $145 | $94 | $102 | $177 | |||||
| Average shares outstanding, diluted |
593.7 | 598.1 | 596.3 | 594.0 | 585.7 | |||||
| Operating earnings per share contribution |
$0.87 | $0.25 | $0.16 | $0.17 | $0.30 | |||||
| 1) | Our 2009 income statements have been recast due to Dominion management’s decision to retain Hope Gas, Inc. as part of Dominion Energy. |
Notes:
- Commodity purchases = Electric fuel and other energy-related purchases + Purchased gas
- Other = Other Taxes - Other Income
- Operating segment contribution to operating earnings equals contribution to GAAP earnings
- Figures may not add due to rounding
Page 3 of 6
Dominion
Unaudited Supplemental Summary of 2009 Operating Earnings
(millions, except per share amounts)
| Year Ended |
Quarter ended 12/31/09 |
Quarter ended 09/30/09 |
Quarter ended 06/30/09 |
Quarter Ended 03/31/09 | ||||||
| Dominion Generation |
||||||||||
| Utility Generation |
||||||||||
| Operating revenue |
$5,552 | $1,196 | $1,563 | $1,321 | $1,473 | |||||
| Expenses: |
||||||||||
| Commodity purchases |
2,835 | 624 | 739 | 684 | 789 | |||||
| Purchased electric capacity |
409 | 101 | 95 | 105 | 108 | |||||
| Other operations and maintenance |
1,021 | 296 | 219 | 273 | 233 | |||||
| Depreciation, depletion and amortization |
320 | 80 | 81 | 79 | 80 | |||||
| Other |
61 | 6 | 11 | 22 | 22 | |||||
| Earnings including noncontrolling interests before interest and taxes |
$908 | $89 | $418 | $158 | $243 | |||||
| Merchant Generation |
||||||||||
| Operating revenue |
$3,199 | $737 | $813 | $793 | $855 | |||||
| Expenses: |
||||||||||
| Commodity purchases |
792 | 191 | 186 | 198 | 216 | |||||
| Purchased electric capacity |
2 | 1 | 1 | 0 | 0 | |||||
| Other operations and maintenance |
915 | 281 | 216 | 213 | 205 | |||||
| Other |
39 | 16 | 1 | 9 | 13 | |||||
| Earnings before interest, taxes and DD&A |
$1,451 | $248 | $409 | $373 | $421 | |||||
| Depreciation, depletion and amortization |
172 | 54 | 38 | 40 | 40 | |||||
| Earnings including noncontrolling interests before interest and taxes |
$1,277 | $194 | $371 | $333 | $379 | |||||
| Dominion Generation Total |
||||||||||
| Operating revenue |
$8,751 | $1,933 | $2,376 | $2,114 | $2,328 | |||||
| Expenses: |
||||||||||
| Commodity purchases |
3,627 | 815 | 925 | 882 | 1,005 | |||||
| Purchased electric capacity |
411 | 102 | 96 | 105 | 108 | |||||
| Other operations and maintenance |
1,936 | 577 | 435 | 486 | 438 | |||||
| Depreciation, depletion and amortization |
492 | 134 | 119 | 119 | 120 | |||||
| Other |
100 | 22 | 12 | 31 | 35 | |||||
| Earnings including noncontrolling interests before interest and taxes |
2,185 | 283 | 789 | 491 | 622 | |||||
| Interest and related charges |
201 | 48 | 50 | 54 | 49 | |||||
| Income taxes |
694 | 49 | 278 | 165 | 202 | |||||
| Noncontrolling interests |
9 | 3 | 2 | 2 | 2 | |||||
| Operating earnings contribution |
$1,281 | $183 | $459 | $270 | $369 | |||||
| Average shares outstanding, diluted |
593.7 | 598.1 | 596.3 | 594.0 | 585.7 | |||||
| Operating earnings per share contribution |
$2.16 | $0.31 | $0.77 | $0.46 | $0.63 | |||||
Notes:
- Commodity purchases = Electric fuel and other energy-related purchases + Purchased gas
- Other = Other Taxes - Other Income
- Operating segment contribution to operating earnings equals contribution to GAAP earnings
- Figures may not add due to rounding
Page 4 of 6
Dominion
Unaudited Supplemental Summary of 2009 Operating Earnings
(millions, except per share amounts)
| Year Ended 12/31/09 |
Quarter ended 12/31/09 |
Quarter ended 09/30/09 |
Quarter ended 06/30/09 |
Quarter Ended 03/31/09 | ||||||||||
| THIS SCHEDULE PRESENTS GAAP MEASURES OF REPORTED NET INCOME ATTRIBUTABLE TO DOMINION. | ||||||||||||||
| PLEASE REFER TO THE FOLLOWING PAGE FOR THE OPERATING EARNINGS EQUIVALENT OF THIS SCHEDULE. | ||||||||||||||
| Corporate and Other1 |
||||||||||||||
| Operating revenue |
653 | (161 | ) | 205 | 220 | 389 | ||||||||
| Expenses: |
||||||||||||||
| Commodity purchases |
395 | 185 | 14 | 35 | 161 | |||||||||
| Purchased electric capacity |
0 | 0 | 0 | 0 | 0 | |||||||||
| Other operations and maintenance |
1,270 | 345 | 207 | 91 | 628 | |||||||||
| Depreciation, depletion and amortization |
48 | 32 | 5 | 5 | 5 | |||||||||
| Other |
(70 | ) | (32 | ) | (83 | ) | (49 | ) | 95 | |||||
| Earnings including noncontrolling interests before interest and taxes |
(990 | ) | (691 | ) | 62 | 138 | (500) | |||||||
| Interest and related charges |
539 | 148 | 127 | 128 | 135 | |||||||||
| Income taxes |
(634 | ) | (410 | ) | (12 | ) | 10 | (222) | ||||||
| Noncontrolling interests |
0 | 0 | 0 | 0 | 0 | |||||||||
| Corporate contribution to reported earnings |
($895 | ) | ($429 | ) | ($53 | ) | $0 | ($413) | ||||||
| Average shares outstanding, diluted |
593.7 | 598.1 | 596.3 | 594.0 | 585.7 | |||||||||
| Corporate reported earnings per share |
($1.51 | ) | ($0.72 | ) | ($0.09 | ) | ($0.01 | ) | ($0.71) | |||||
| Total Segment Eliminations and Adjustments1 |
||||||||||||||
| Operating revenue |
(1,364 | ) | (342 | ) | (333 | ) | (349 | ) | (340) | |||||
| Expenses: |
||||||||||||||
| Commodity purchases |
(616 | ) | (144 | ) | (141 | ) | (172 | ) | (159) | |||||
| Purchased electric capacity |
0 | 0 | 0 | 0 | 0 | |||||||||
| Other operations and maintenance |
(748 | ) | (198 | ) | (192 | ) | (177 | ) | (181) | |||||
| Depreciation, depletion and amortization |
0 | 0 | 0 | 0 | 0 | |||||||||
| Other |
118 | 28 | 29 | 30 | 31 | |||||||||
| Earnings including noncontrolling interests before interest and taxes |
(118 | ) | (28 | ) | (29 | ) | (30 | ) | (31) | |||||
| Interest and related charges |
(118 | ) | (28 | ) | (29 | ) | (30 | ) | (31) | |||||
| Income taxes |
0 | 0 | 0 | 0 | 0 | |||||||||
| Noncontrolling interests |
0 | 0 | 0 | 0 | 0 | |||||||||
| Segment Eliminations contribution to reported earnings |
$0 | $0 | $0 | $0 | $0 | |||||||||
| Average shares outstanding, diluted |
593.7 | 598.1 | 596.3 | 594.0 | 585.7 | |||||||||
| Segment Eliminations reported earnings per share |
$0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |||||||||
| Dominion Total |
||||||||||||||
| Operating revenue |
15,131 | 3,255 | 3,648 | 3,450 | 4,778 | |||||||||
| Expenses: |
||||||||||||||
| Commodity purchases |
6,666 | 1,670 | 1,351 | 1,366 | 2,279 | |||||||||
| Purchased electric capacity |
411 | 102 | 96 | 105 | 108 | |||||||||
| Other operations and maintenance |
3,795 | 1,100 | 748 | 697 | 1,250 | |||||||||
| Depreciation, depletion and amortization |
1,139 | 315 | 274 | 271 | 279 | |||||||||
| Other taxes |
491 | 118 | 107 | 109 | 157 | |||||||||
| Total operating expenses |
12,502 | 3,305 | 2,576 | 2,548 | 4,073 | |||||||||
| Income from Operations |
2,629 | (50 | ) | 1,072 | 902 | 705 | ||||||||
| Other income (loss) |
181 | 54 | 123 | 70 | (66) | |||||||||
| Income including noncontrolling interests before interest and taxes |
2,810 | 4 | 1,195 | 972 | 639 | |||||||||
| Interest and related charges |
894 | 236 | 217 | 221 | 220 | |||||||||
| Income taxes |
612 | (228 | ) | 380 | 293 | 167 | ||||||||
| Noncontrolling interests |
17 | 5 | 4 | 4 | 4 | |||||||||
| Net Income attributable to Dominion |
1,287 | (9 | ) | 594 | 454 | 248 | ||||||||
| Average shares outstanding, diluted |
593.7 | 598.1 | 596.3 | 594.0 | 585.7 | |||||||||
| Consolidated reported earnings per share |
$2.17 | ($0.01 | ) | $1.00 | $0.76 | $0.42 | ||||||||
| 1) | Our 2009 income statements have been recast due to Dominion management's decision to retain Hope Gas, Inc. as part of Dominion Energy. |
Notes:
- Commodity purchases = Electric fuel and other energy-related purchases + Purchased gas
- Other = Other Taxes - Other Income
- Figures may not add due to rounding
Page 5 of 6
Dominion
Unaudited Supplemental Summary of 2009 Operating Earnings
(millions, except per share amounts)
| Year Ended |
Quarter ended 12/31/09 |
Quarter ended 09/30/09 |
Quarter ended 06/30/09 |
Quarter Ended 03/31/09 | ||||||
| THIS SCHEDULE PRESENTS MEASURES OF OPERATING EARNINGS THAT EXCLUDE CERTAIN ITEMS THAT ARE INCLUDED IN GAAP. PLEASE REFER TO THE PRECEDING PAGE FOR THE GAAP EQUIVALENT OF THIS SCHEDULE. | ||||||||||
| Corporate and Other1 |
||||||||||
| Operating revenue |
$683 | $181 | $171 | $161 | $170 | |||||
| Expenses: |
||||||||||
| Commodity purchases |
4 | 1 | 1 | 1 | 1 | |||||
| Purchased electric capacity |
0 | 0 | 0 | 0 | 0 | |||||
| Other operations and maintenance |
681 | 181 | 172 | 172 | 156 | |||||
| Depreciation, depletion and amortization |
29 | 8 | 7 | 7 | 7 | |||||
| Other |
(117) | (34) | (32) | (32) | (18) | |||||
| Earnings including noncontrolling interests before interest and taxes |
86 | 25 | 23 | 13 | 24 | |||||
| Interest and related charges |
533 | 145 | 126 | 128 | 134 | |||||
| Income taxes |
(207) | (74) | (46) | (65) | (23) | |||||
| Noncontrolling interests |
0 | 0 | 0 | 0 | 0 | |||||
| Operating earnings contribution |
($240) | ($46) | ($57) | ($50) | ($87) | |||||
| Average shares outstanding, diluted |
593.7 | 598.1 | 596.3 | 594.0 | 585.7 | |||||
| Operating earnings per share contribution |
($0.41) | ($0.08) | ($0.10) | ($0.09) | ($0.15) | |||||
| Total Segment Eliminations and Adjustments1 |
||||||||||
| Operating revenue |
($1,283) | ($323) | ($317) | ($334) | ($309) | |||||
| Expenses: |
||||||||||
| Commodity purchases |
(537) | (126) | (126) | (158) | (128) | |||||
| Purchased electric capacity |
0 | 0 | 0 | 0 | 0 | |||||
| Other operations and maintenance |
(746) | (197) | (191) | (176) | (181) | |||||
| Depreciation, depletion and amortization |
0 | 0 | 0 | 0 | 0 | |||||
| Other |
118 | 28 | 29 | 30 | 31 | |||||
| Earnings including noncontrolling interests before interest and taxes |
(118) | (28) | (29) | (30) | (31) | |||||
| Interest and related charges |
(118) | (28) | (29) | (30) | (31) | |||||
| Income taxes |
0 | 0 | 0 | 0 | 0 | |||||
| Noncontrolling interests |
0 | 0 | 0 | 0 | 0 | |||||
| Operating earnings contribution |
$0 | $0 | $0 | $0 | $0 | |||||
| Average shares outstanding, diluted |
593.7 | 598.1 | 596.3 | 594.0 | 585.7 | |||||
| Operating earnings per share contribution |
$0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |||||
| Dominion Total1 |
||||||||||
| Operating revenue |
$15,242 | $3,617 | $3,630 | $3,406 | $4,589 | |||||
| Expenses: |
||||||||||
| Commodity purchases |
6,354 | 1,506 | 1,353 | 1,347 | 2,149 | |||||
| Purchased electric capacity |
411 | 102 | 96 | 105 | 107 | |||||
| Other operations and maintenance |
3,208 | 937 | 714 | 777 | 780 | |||||
| Depreciation, depletion and amortization |
1,120 | 290 | 276 | 273 | 280 | |||||
| Other |
262 | 63 | 34 | 58 | 109 | |||||
| Earnings including noncontrolling interests before interest and taxes |
3,887 | 719 | 1,157 | 846 | 1,164 | |||||
| Interest and related charges |
889 | 232 | 217 | 220 | 219 | |||||
| Income taxes |
1,039 | 108 | 346 | 218 | 367 | |||||
| Noncontrolling interests |
17 | 5 | 4 | 4 | 4 | |||||
| Consolidated operating earnings |
$1,942 | $374 | $590 | $404 | $574 | |||||
| Average shares outstanding, diluted |
593.7 | 598.1 | 596.3 | 594.0 | 585.7 | |||||
| Consolidated operating earnings per share |
$3.27 | $0.63 | $0.99 | $0.68 | $0.98 | |||||
| 1) | Our 2009 income statements have been recast due to Dominion management's decision to retain Hope Gas, Inc. as part of Dominion Energy. |
Notes:
- Commodity purchases = Electric fuel and other energy-related purchases + Purchased gas
- Other = Other Taxes - Other Income
- Figures may not add due to rounding
Page 6 of 6