Financial Highlights |
|||
| For the years ended September 30 (in millions) | 2006 |
2005 |
% Change |
| Summary statements of income | |||
| Operating revenues | $ 9,185 |
$ 7,794 |
18 |
| Operating expenses | (7,582) |
(6,503) |
17 |
| Operating income | 1,603 |
1,291 |
24 |
| Other income and expense, net | 65 |
52 |
25 |
| Unrealized gains (losses) on derivative contracts, net | (15) |
3 |
NM |
| Interest expense, net | (1,215) |
(1,261) |
(4) |
| Income before cumulative effects of accounting change | 438 |
85 |
415 |
| Cumulative effect of change in accounting for conditional asset retirement obligations | (109) |
– |
|
| Net income | $ 329 |
$ 85 |
287 |
| Unless otherwise indicated, years (2006, 2005, etc.) in this report refer to TVA's fiscal years ended September 30. | |||