Consolidated Financial Statements

Consolidated Statements of Operations


		Years Ended December 31,
(In millions, except per share amounts)		2004	2003	2002
Revenues	$	4,718.1	3,998.6	3,733.8
Expenses:
Operating expenses		3,964.2	3,404.2	3,136.1
Selling, general and administrative expenses		573.1	520.6	470.6
Total expenses		4,537.3	3,924.8	3,606.7
Gain on sale of equity interest		-	10.4	-
Other operating income, net		9.1	15.6	5.2
Operating profit		189.9	99.8	132.3
Interest income		4.6	6.2	3.1
Interest expense		(22.9)	(25.4)	(23.0)
Stabilization Act compensation		-	-	5.9
Other income (expense), net		2.8	2.3	(5.2)
Minority interest		(12.9)	(9.0)	(3.3)
Income from continuing operations before income taxes		161.5	73.9	109.8
Provision for income taxes		60.9	55.7	40.4
Income from continuing operations		100.6	18.2	69.4
Income (loss) from discontinued operations (2002 includes $2 million of retained expenses of former coal operations. These types of expenses in 2003 and 2004 are recorded in continuing operations. See note 6.)		20.9	11.2	(43.3)
Net income	$	121.5	29.4	26.1
Net income (loss) per common share
Basic:
Continuing operations	$	1.84	0.34	1.31
Discontinued operations		0.39	0.21	(0.83)
	$	2.23	0.55	0.48
Diluted:
Continuing operations	$	1.82	0.34	1.30
Discontinued operations		0.38	0.21	(0.82)
	$	2.20	0.55	0.48

See accompanying notes to consolidated financial statements.