| In millions, except as noted | ||||||||
| AT YEAR END | 2004 | % CHANGE | 2003 | 2002 | ||||
| OPERATING RESULTS | ||||||||
| Operating Revenues | $ 4,688 | 6.2 | $ 4,416 | $ 4,059 | ||||
| Net Income | $ 401 | (14.7) | $ 470 | $ 361 | ||||
| PER SHARE OF COMMON STOCK |
||||||||
| Diluted Earnings | $ 2.18 | (17.1) | $ 2.63 | $ 2.13 | ||||
| Dividends Declared | $ 1.88 | 2.2 | $ 1.84 | $ 1.80 | ||||
| Book Value at Year-end | $ 21.95 | 5.8 | $ 20.75 | $ 19.53 | ||||
| CAPITALIZATION AT YEAR-END |
||||||||
| Common Equity | $ 4,116 | 11.2 | $ 3,701 | $ 3,293 | ||||
| Preferred Trust Securities (1) | — | — | — | $ 308 | ||||
| Preferred Stock | $ 63 | — | $ 63 | $ 63 | ||||
| Long-term Debt (including amounts due within one year) |
$ 4,448 | (10.5) | $ 4,971 | $ 4,188 | ||||
| OTHER | ||||||||
| Total assets | $ 14,982 | 6.1 | $ 14,119 | $ 13,832 | ||||
| Employees (actual) | 7,842 | (2) | 1.9 | 7,693 | 7,823 |
| (1) | As a result of adopting Financial Accounting Standards Board Interpretation 46, we no longer consolidate the trust that held Company obligated, mandatorily redeemable, preferred trust securities of subsidiary, holding solely debt securities of the company. This resulted in the removal of these securities from our 2003 Balance Sheet and the addition to long-term debt of a $319 (net of discount) note payable that Cinergy Corp. owes the trust. |
| (2) | As of January 31, 2005. |