About This Report
Regulation G Compliance
This report includes the non-GAAP financial measure of adjusted earnings and adjusted earnings per share. The reconciliation of these measures to the most directly comparable GAAP measures is below.
GAAP to Non-GAAP Reconciliation — Adjusted Earnings and Earnings Per Share
|
|
2019
|
2018
|
|---|---|---|
|
($ in millions, except diluted average common shares outstanding)
|
||
| Net income attributable to ETR Corp |
1,241
|
849
|
|
Less adjustments:
|
||
|
Utility
|
||
|
Customer sharing associated with internal restructuring
|
—
|
(40)
|
|
Income tax effect on Utility adjustments above
|
—
|
10
|
|
Income tax benefit from 2012 / 2013 IRS settlement
|
—
|
43
|
|
Income tax benefit from internal restructuring
|
—
|
170
|
|
Tax reform
|
—
|
38
|
|
Reversal of income tax valuation allowance
|
41
|
—
|
|
Total Utility
|
41
|
222
|
|
Parent & Other
|
||
|
Income tax item related to a valuation allowance for interest deductibility
|
(11)
|
—
|
|
Total Parent & other
|
(11)
|
—
|
|
EWC
|
147
|
(343)
|
|
Total adjustments
|
177
|
(121)
|
|
ETR Adjusted Earnings
|
1,064
|
970
|
|
Diluted average common shares outstanding (in millions)
|
197
|
183
|
|
(After-tax, $ per share)
|
||
|
Net income attributable to ETR Corp
|
6.30
|
4.63
|
|
Less adjustments:
|
||
|
Utility
|
||
|
Customer sharing associated with internal restructuring
|
—
|
(0.16)
|
|
Income tax benefit from 2012 / 2013 IRS settlement
|
—
|
0.23
|
|
Income tax benefit from internal restructuring
|
—
|
0.93
|
|
Tax reform
|
—
|
0.21
|
|
Reversal of income tax valuation allowance
|
0.21
|
—
|
|
Total Utility
|
0.21
|
1.21
|
|
Parent & Other
|
||
|
Income tax item related to a valuation allowance for interest deductibility
|
(0.05)
|
—
|
|
Total Parent & other
|
(0.05)
|
—
|
|
EWC
|
0.74
|
(1.87)
|
|
Total adjustments
|
0.90
|
(0.66)
|
|
ETR Adjusted Earnings
|
5.40
|
5.29
|
Calculations may differ due to rounding.
(a) Per share amounts are calculated by dividing the corresponding earnings (loss) by the diluted average number of common shares outstanding for the period.