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Segment financial information
3 Months Ended
Mar. 31, 2014
Segment Reporting [Abstract]  
Segment financial information
Segment financial information
 
(in thousands) 
 
Electric utility
 
Bank
 
Other
 
Total
Three months ended March 31, 2014
 
 

 
 

 
 

 
 

Revenues from external customers
 
$
720,056

 
$
63,619

 
$
74

 
$
783,749

Intersegment revenues (eliminations)
 
6

 

 
(6
)
 

Revenues
 
720,062

 
63,619

 
68

 
783,749

Income (loss) before income taxes
 
57,166

 
21,624

 
(7,717
)
 
71,073

Income taxes (benefit)
 
21,247

 
7,085

 
(3,659
)
 
24,673

Net income (loss)
 
35,919

 
14,539

 
(4,058
)
 
46,400

Preferred stock dividends of subsidiaries
 
499

 

 
(26
)
 
473

Net income (loss) for common stock
 
35,420

 
14,539

 
(4,032
)
 
45,927

Assets (at March 31, 2014)
 
5,082,589

 
5,371,483

 
3,998

 
10,458,070

Three months ended March 31, 2013
 
 

 
 

 
 

 
 

Revenues from external customers
 
$
717,435

 
$
64,756

 
$
41

 
$
782,232

Intersegment revenues (eliminations)
 
6

 

 
(6
)
 

Revenues
 
717,441

 
64,756

 
35

 
782,232

Income (loss) before income taxes
 
38,547

 
21,752

 
(8,260
)
 
52,039

Income taxes (benefit)
 
13,619

 
7,597

 
(3,329
)
 
17,887

Net income (loss)
 
24,928

 
14,155

 
(4,931
)
 
34,152

Preferred stock dividends of subsidiaries
 
499

 

 
(26
)
 
473

Net income (loss) for common stock
 
24,429

 
14,155

 
(4,905
)
 
33,679

Assets (at December 31, 2013)
 
5,087,129

 
5,243,824

 
9,091

 
10,340,044


 
Intercompany electricity sales of the Utilities to the bank and “other” segments are not eliminated because those segments would need to purchase electricity from another source if it were not provided by the Utilities, the profit on such sales is nominal and the elimination of electric sales revenues and expenses could distort segment operating income and net income for common stock.
Bank fees that ASB charges the Utilities and “other” segments are not eliminated because those segments would pay fees to another financial institution if they were to bank with another institution, the profit on such fees is nominal and the elimination of bank fee income and expenses could distort segment operating income and net income for common stock.