2. Should Dominion continue to pursue an all-debt strategy? A debt-plus-equity strategy? Or should Hetzer abandon Cove Point in order to safely pursue an all-debt strategy? Discuss the pros and cons for each of these strategies. minion Corporate Income Statements, 2011-2012 (non-GAAP) $ in millions except per share amounts) 2011 2012 $14,314 $12,762 3,650 387 1 2 13 4 NA Operating revenue Operating expenses Electric fuel and other energy-related purchases Purchased electric capacity Purchased gas Other operations and maintenance Depreciation, depletion, and amortization Other taxes Total operating expenses Income from operations Other income EBIT Interest and related charges Income including noncontrolling interests before income taxes Income tax expense Net income including noncontrolling interests Noncontrolling interests Net income Earnings per share Avg shares outstanding, diluted Dividends per share 16 17 8 19 20 21 22 4,152 454 1,745 2,849 1,068 545 10.813 3,501 176 3,677 901 2776 1004 1.772 18 $1,754 $3.05 1,177 2.446 1,148 551 9259 3,403 1159 3,562 832 2,730 254. 1,776 27 $1,749 $3.05 24 563.2 $1.97 573.9 $2.11 26 29 28 29 30 31 32 33 34 GAAP Reconciliation Operating earnings (non-GAAP) Impairment of generation assets Other items Reported earnings (GAAP) 1,754 (178) (168) 1,408 1749 (1.279) (168) 302