Unrealized gain (loss) on investments in unconsolidated affiliates

[Table of Contents](#i59ca7ab3cc784e42904d434b0008a7a9_10)  
Constellation Energy Generation, LLC and Subsidiary CompaniesConsolidated Statements of Operations and Comprehensive Income

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | For the Years Ended December 31, |
| (In millions) | 2021 |  | 2020 |  | 2019 |
| Operating revenues |  |  |  |  |  |
| Operating revenues | $ | 18,461  |  |  | $ | 16,392  |  |  | $ | 17,752  |  |
| Operating revenues from affiliates | 1,188  |  |  | 1,211  |  |  | 1,172  |  |
| Total operating revenues | 19,649  |  |  | 17,603  |  |  | 18,924  |  |
| Operating expenses |  |  |  |  |  |
| Purchased power and fuel | 12,157  |  |  | 9,592  |  |  | 10,849  |  |
| Purchased power and fuel from affiliates | 6  |  |  | (7) |  |  | 7  |  |
| Operating and maintenance | 3,934  |  |  | 4,613  |  |  | 4,131  |  |
| Operating and maintenance from affiliates | 621  |  |  | 555  |  |  | 587  |  |
| Depreciation and amortization | 3,003  |  |  | 2,123  |  |  | 1,535  |  |
| Taxes other than income taxes | 475  |  |  | 482  |  |  | 519  |  |
| Total operating expenses | 20,196  |  |  | 17,358  |  |  | 17,628  |  |
|  |  |  |  |  |  |
| Gain on sales of assets and businesses | 201  |  |  | 11  |  |  | 27  |  |
|  |  |  |  |  |  |
|  |  |  |  |  |  |
| Operating (loss) income | (346) |  |  | 256  |  |  | 1,323  |  |
| Other income and (deductions) |  |  |  |  |  |
| Interest expense, net | (282) |  |  | (328) |  |  | (394) |  |
| Interest expense to affiliates | (15) |  |  | (29) |  |  | (35) |  |
| Other, net | 795  |  |  | 937  |  |  | 1,023  |  |
| Total other income and (deductions) | 498  |  |  | 580  |  |  | 594  |  |
| Income before income taxes | 152  |  |  | 836  |  |  | 1,917  |  |
| Income taxes | 225  |  |  | 249  |  |  | 516  |  |
| Equity in losses of unconsolidated affiliates | (10) |  |  | (8) |  |  | (184) |  |
| Net (loss) income | (83) |  |  | 579  |  |  | 1,217  |  |
| Net income (loss) attributable to noncontrolling interests | 122  |  |  | (10) |  |  | 92  |  |
| Net (loss) income attributable to membership interest | $ | (205) |  |  | $ | 589  |  |  | $ | 1,125  |  |
| Comprehensive (loss) income, net of income taxes |  |  |  |  |  |
| Net (loss) income | $ | (83) |  |  | $ | 579  |  |  | $ | 1,217  |  |
| Other comprehensive (loss) income, net of income taxes |  |  |  |  |  |
|  |  |  |  |  |  |
|  |  |  |  |  |  |
|  |  |  |  |  |  |
| Unrealized loss on cash flow hedges | (1) |  |  | (2) |  |  | —  |  |
|  |  |  |  |  |  |
| Unrealized gain on investments in unconsolidated affiliates | —  |  |  | —  |  |  | 1  |  |
| Unrealized gain on foreign currency translation | —  |  |  | 4  |  |  | 6  |  |
|  |  |  |  |  |  |
| Other comprehensive (loss) income, net of income taxes | (1) |  |  | 2  |  |  | 7  |  |
| Comprehensive (loss) income | (84) |  |  | 581  |  |  | 1,224  |  |
| Comprehensive income (loss) attributable to noncontrolling interests | 122  |  |  | (10) |  |  | 93  |  |
| Comprehensive (loss) income attributable to membership interest | $ | (206) |  |  | $ | 591  |  |  | $ | 1,131  |  |

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