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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
OPERATING REVENUES $ 298,044 $ 275,058 $ 578,177 $ 547,545
OPERATING EXPENSES        
Operation and maintenance 27,611 30,026 52,207 55,588
General and administrative 49,462 32,493 95,170 73,387
Depreciation and amortization 39,369 35,578 78,241 70,013
Taxes other than income taxes 22,350 18,786 45,799 41,166
Other operating (income) and expenses — net (282) (233) (546) (469)
Total operating expenses 138,510 116,650 270,871 239,685
OPERATING INCOME 159,534 158,408 307,306 307,860
OTHER EXPENSES (INCOME)        
Interest expense — net 51,804 50,198 102,221 98,672
Allowance for equity funds used during construction (8,921) (7,464) (16,440) (15,013)
Other income (480) (189) (741) (438)
Other expense 1,226 431 2,381 1,615
Total other expenses (income) 43,629 42,976 87,421 84,836
INCOME BEFORE INCOME TAXES 115,905 115,432 219,885 223,024
INCOME TAX PROVISION 45,179 43,096 84,922 83,556
NET INCOME $ 70,726 $ 72,336 $ 134,963 $ 139,468
Basic earnings per common share $ 0.46 $ 0.47 $ 0.88 $ 0.90
Diluted earnings per common share 0.46 0.46 0.88 0.89
Dividends declared per common share $ 0.1875 $ 0.1625 $ 0.3750 $ 0.3250