The differences between GAAP net income and non-GAAP operating earnings are due to adjustments to eliminate unrealized mark-to-market gains and losses attributable to certain wholesale energy supply and retail sales contracts.For the quarter ended June 30, 2012, non-GAAP operating earnings reflect higher realized electric margins due to increased sales volumes resulting from customer growth and favorable price conditions in the current period versus the same quarter of the prior year. Realized natural gas margins were lower primarily attributable to a less favorable pattern of margin recognition in the current quarter versus the same quarter of the prior year partially offset by higher sales volumes. The pattern of margin recognition that the retail energy-marketing segment realizes in a given quarter varies from year to year.
WGL Holdings, Inc. Reports Third Quarter Fiscal Year 2012 Financial Results; Affirms Fiscal Year 2012 Non-GAAP Guidance
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