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Comparative Condensed Consolidated Statements of Income (Unaudited) (USD $)
In Thousands, except Per Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
Operating Revenues        
Electric Retail Sales $ 275,616 $ 259,940 $ 492,831 $ 464,686
Electric Wholesale Sales 38,744 28,466 79,658 65,558
California Power Exchange (CPX) Provision for Wholesale Refunds       (2,970)
Gas Revenue 25,020 24,677 82,210 80,458
Other Revenues 30,293 26,030 59,740 50,230
Total Operating Revenues 369,673 339,113 714,439 657,962
Operating Expenses        
Fuel 82,563 69,304 154,692 129,909
Purchased Power 66,336 66,591 144,610 149,396
Transmission 3,464 2,878 5,966 5,308
Increase (Decrease) to Reflect PPFAC/PGA Recovery Treatment     (8,000)  
Increase (Decrease) to Reflect PPFAC/PGA Recovery Treatment 3,227 (10,313) (3,008) (23,058)
Total Fuel and Purchased Energy 155,590 128,460 302,260 261,555
Other Operations and Maintenance 90,052 87,134 191,107 170,042
Depreciation 33,310 32,223 66,100 63,322
Amortization 7,253 7,048 14,631 13,620
Taxes Other Than Income Taxes 12,229 11,952 24,374 24,225
Total Operating Expenses 298,434 266,817 598,472 532,764
Operating Income 71,239 72,296 115,967 125,198
Other Income (Deductions)        
Interest Income 826 1,953 1,820 3,880
Other Income 2,646 1,158 5,477 7,137
Other Expense (813) (6,138) (1,417) (6,903)
Total Other Income (Deductions) 2,659 (3,027) 5,880 4,114
Interest Expense        
Long-Term Debt 18,203 15,816 36,296 31,056
Capital Leases 9,931 11,425 19,860 23,509
Other Interest Expense, Net of Interest Capitalized (109) 186 (1,030) 514
Total Interest Expense 28,025 27,427 55,126 55,079
Income Before Income Taxes 45,873 41,842 66,721 74,233
Income Tax Expense 17,299 15,956 24,731 28,201
Net Income 28,574 25,886 41,990 46,032
Weighted-Average Shares of Common Stock Outstanding (000) 36,950 36,322 36,869 36,215
Basic Earnings Per Share (EPS) $ 0.77 $ 0.71 $ 1.14 $ 1.27
Diluted EPS $ 0.71 $ 0.66 $ 1.07 $ 1.18
Dividends Declared per Share $ 0.42 $ 0.39 $ 0.84 $ 0.78
TEP [Member]
       
Operating Revenues        
Electric Retail Sales 231,652 217,555 405,354 384,974
Electric Wholesale Sales 31,759 29,276 67,015 70,265
California Power Exchange (CPX) Provision for Wholesale Refunds       (2,970)
Other Revenues 31,822 27,864 62,452 53,507
Total Operating Revenues 295,233 274,695 534,821 505,776
Operating Expenses        
Fuel 80,831 66,753 152,138 125,260
Purchased Power 26,445 33,337 43,680 57,992
Transmission 1,232 1,049 1,927 1,845
Increase (Decrease) to Reflect PPFAC/PGA Recovery Treatment 2,112 (7,601) (7,671) (10,833)
Total Fuel and Purchased Energy 110,620 93,538 190,074 174,264
Other Operations and Maintenance 78,094 74,613 166,587 144,977
Depreciation 25,850 24,893 51,583 48,953
Amortization 8,180 8,024 16,484 15,810
Taxes Other Than Income Taxes 10,043 9,730 19,947 19,681
Total Operating Expenses 232,787 210,798 444,675 403,685
Operating Income 62,446 63,897 90,146 102,091
Other Income (Deductions)        
Interest Income 582 1,696 1,317 3,386
Other Income 1,727 1,115 4,367 2,333
Other Expense (2,498) (2,397) (4,996) (4,883)
Total Other Income (Deductions) (189) 414 688 836
Interest Expense        
Long-Term Debt 12,157 10,154 24,412 20,032
Capital Leases 9,930 11,423 19,859 23,504
Other Interest Expense, Net of Interest Capitalized (91) 68 (837) 42
Total Interest Expense 21,996 21,645 43,434 43,578
Income Before Income Taxes 40,261 42,666 47,400 59,349
Income Tax Expense 15,133 14,728 17,624 20,953
Net Income $ 25,128 $ 27,938 $ 29,776 $ 38,396