Investor Presentaiton
Solid financial performance
Net income, earnings per share, and ROE
EPS
(diluted)
$2.50(2)
$2.37
$2.39
$2.29(1)
$2.16
Net income
$2.20(2)
(dollars in millions)
$2.10(1)
$212
$214
$193
$187(1)
2016
2017(1)
2018
2019
2020(2)
Accounting ROE
8.4%
Allowed ROE
9.6%
7.9%
9.6%
8.6%
9.5%
8.4%
9.5%
7.5% - 8.5%
9.5%
(1) In 2017 net income based on generally accepted accounting principles (GAAP) was $187 million, or $2.10 per diluted share. After adjusting for the impacts of the Tax Cuts and Jobs Act (TCJA), non-
GAAP net income was $204 million, or $2.29 per diluted share. Management believes that excluding the effects of the TCJA ($0.19) provides a more meaningful representation of the company's
comparative earnings. The company has adjusted this amount to maintain comparability between periods.
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(2)
Estimates and projections are based on assumptions and there can be no assurance regarding the amount of future earnings. Earnings guidance provided as of July 31, 2020.
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