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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (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 $ 185,098 $ 168,468 $ 364,484 $ 329,756
OPERATING EXPENSES        
Operation and maintenance 28,837 28,494 55,121 52,223
General and administrative 19,289 17,413 35,869 35,194
Depreciation and amortization 23,352 22,567 46,440 44,682
Taxes other than income taxes 13,556 11,626 27,164 23,934
Other operating (income) and expense - net (167) (530) (316) (523)
Total operating expenses 84,867 79,570 164,278 155,510
OPERATING INCOME 100,231 88,898 200,206 174,246
OTHER EXPENSES (INCOME)        
Interest expense 36,484 35,333 72,754 70,362
Allowance for equity funds used during construction (4,099) (3,435) (7,609) (6,578)
Other income (497) (1,154) (718) (1,672)
Other expense 1,594 755 2,269 1,031
Total other expenses (income) 33,482 31,499 66,696 63,143
INCOME BEFORE INCOME TAXES 66,749 57,399 133,510 111,103
INCOME TAX PROVISION 23,753 21,098 48,512 40,598
NET INCOME $ 42,996 $ 36,301 $ 84,998 $ 70,505
Basic earnings per common share (Note 8) $ 0.84 $ 0.72 $ 1.67 $ 1.40
Diluted earnings per common share (Note 8) $ 0.83 $ 0.71 $ 1.64 $ 1.38
Dividends declared per common share $ 0.335 $ 0.320 $ 0.670 $ 0.640