XML 177 R2.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Revenues      
Revenues $ 2,874,601 $ 2,860,849 $ 2,555,625
Expenses      
Total expenses 2,525,927 2,527,493 2,209,392
Operating income (loss)      
Operating income 348,674 333,356 346,233
Retirement defined benefits expense—other than service costs (2,806) (5,962) (7,942)
Interest expense, net – other than on deposit liabilities and other bank borrowings (90,899) (88,677) (78,972)
Allowance for borrowed funds used during construction 4,453 4,867 4,778
Allowance for equity funds used during construction 11,987 10,877 12,483
Income before income taxes 271,409 254,461 276,580
Income taxes 51,637 50,797 109,393
Net income (loss) 219,772 203,664 167,187
Preferred stock dividends of subsidiaries 1,890 1,890 1,890
Net income for common stock $ 217,882 $ 201,774 $ 165,297
Basic earnings per common share (in dollars per share) $ 2.00 $ 1.85 $ 1.52
Diluted earnings per common share (in dollars per share) $ 1.99 $ 1.85 $ 1.52
Weighted-average number of common shares outstanding (in shares) 108,949 108,855 108,749
Net effect of potentially dilutive shares (in shares) 458 291 184
Weighted-average shares assuming dilution (in shares) 109,407 109,146 108,933
Electric utility      
Revenues      
Revenues $ 2,545,942 $ 2,546,525 $ 2,257,566
Expenses      
Total expenses 2,291,564 2,304,864 1,994,042
Operating income (loss)      
Operating income 254,378 241,661 263,524
Income before income taxes 197,140 180,426 205,145
Income taxes 38,305 34,778 83,199
Net income (loss) 158,835 145,648 121,946
Preferred stock dividends of subsidiaries 1,995 1,995 1,995
Net income for common stock 156,840 143,653 119,951
Bank      
Revenues      
Revenues 328,570 314,275 297,640
Expenses      
Total expenses 217,008 206,040 198,104
Operating income (loss)      
Operating income 111,562 108,235 99,536
Income before income taxes 112,034 106,578 98,716
Income taxes 23,061 24,069 31,719
Net income (loss) 88,973 82,509 66,997
Preferred stock dividends of subsidiaries 0 0 0
Net income for common stock 88,973 82,509 66,997
Other      
Revenues      
Revenues 89 49 419
Expenses      
Total expenses 17,355 16,589 17,246
Operating income (loss)      
Operating income (17,266) (16,540) (16,827)
Income before income taxes (37,765) (32,543) (27,281)
Income taxes (9,729) (8,050) (5,525)
Net income (loss) (28,036) (24,493) (21,756)
Preferred stock dividends of subsidiaries (105) (105) (105)
Net income for common stock $ (27,931) $ (24,388) $ (21,651)