Yesterday, we reported third quarter 2021 GAAP earnings of $0.85 per share.
Our operating earnings were $0.82 per share, which is above the top end of our guidance range.
As we've discussed, over the last 12 months, our Board and management team acted quickly and decisively, adding additional independent board members, making changes in our management structure, establishing effective controls, reinforcing our culture change and building a best-in-class ethics and compliance program.
As a part of that transition, later this year, we plan to file with the West Virginia Public Service Commission for 50 megawatts of utility scale solar generation.
As we close out the year, we are raising and narrowing our operating earnings guidance from $2.40 to $2.60 per share to $2.55 to $2.65 per share.
The midpoint of this range represents a 9% increase over 2020 operating earnings results.
Yesterday, we announced GAAP earnings of $0.85 per share for the third quarter of 2021 and operating earnings of $0.82 per share.
In our distribution business, results for the third quarter of 2021 as compared to last year reflect the absence of Ohio decoupling and lost distribution revenue, which totaled $0.04 per share as well as lower weather-related usage.
Comparing our results to the pre-pandemic levels in the third quarter of 2019, weather-adjusted residential usage was nearly 6% higher this quarter.
Weather-adjusted commercial deliveries increased 3% while industrial load was up nearly 4% compared to the third quarter of 2020.
For the first nine months of 2021, operating earnings were $2.10 per share compared to $2.07 per share in the first nine months of 2020.
These items more than offset the $0.17 of decoupling and lost distribution revenues recognized in the first nine months of 2020.
Our strong results and financial discipline have resulted in year-to-date adjusted cash from operations of $2.4 billion, which represents an increase of $600 million versus last year.
While we expect a few offsets in the fourth quarter, we now expect cash from operations of approximately $2.8 billion for the year, which includes approximately $300 million of investigation and other related costs, the largest of which is associated with the $230 million EPA settlement.
Earlier this month, we successfully restructured our revolving credit facilities from a 2-facility model to 6, fulfilling our commitment to complete this action before the end of the year.
The 2021 credit facilities provide for aggregate commitments of $4.5 billion and are available until October of 2026, with two separate 1-year extensions.
We are also pleased that following the restructuring of these facilities, S&P issued a one notch upgrade to the 10 distribution companies and the three transmission companies.
We previously communicated that we were targeting FFO to debt in the 12% to 13% range.
We're raising that target to be solidly at 13%, which will provide ample cushion to the new Moody's threshold of 12%.

Summary:
Yesterday, we reported third quarter 2021 GAAP earnings of $0.85 per share.
Our operating earnings were $0.82 per share, which is above the top end of our guidance range.
As we close out the year, we are raising and narrowing our operating earnings guidance from $2.40 to $2.60 per share to $2.55 to $2.65 per share.
Yesterday, we announced GAAP earnings of $0.85 per share for the third quarter of 2021 and operating earnings of $0.82 per share.