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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Revenues      
Total revenues $ 2,850,379 $ 2,579,775 $ 2,873,948
Expenses      
Total expenses 2,464,313 2,268,282 2,525,927
Operating income (loss)      
Operating income 386,066 311,493 348,021
Retirement defined benefits credit (expense)—other than service costs 5,848 (3,210) (2,806)
Interest expense, net – other than on deposit liabilities and other bank borrowings (94,363) (88,694) (90,899)
Allowance for borrowed funds used during construction 3,250 2,992 4,453
Allowance for equity funds used during construction 9,534 8,768 11,987
Gain on sale of investment securities, net 528 9,275 653
Income before income taxes 310,863 240,624 271,409
Income taxes 62,807 40,910 51,637
Net income (loss) 248,056 199,714 219,772
Preferred stock dividends of subsidiaries 1,890 1,890 1,890
Net income for common stock $ 246,166 $ 197,824 $ 217,882
Basic earnings per common share (in dollars per share) $ 2.25 $ 1.81 $ 2.00
Diluted earnings per common share (in dollars per share) $ 2.25 $ 1.81 $ 1.99
Weighted-average number of common shares outstanding (in shares) 109,282 109,140 108,949
Net effect of potentially dilutive shares (in shares) 298 216 458
Weighted-average shares assuming dilution (in shares) 109,580 109,356 109,407
Electric utility      
Revenues      
Total revenues $ 2,539,636 $ 2,265,320 $ 2,545,942
Expenses      
Total expenses 2,260,078 1,996,770 2,291,564
Operating income (loss)      
Operating income 279,558 268,550 254,378
Income before income taxes 223,785 211,753 197,140
Income taxes 44,148 40,418 38,305
Net income (loss) 179,637 171,335 158,835
Preferred stock dividends of subsidiaries 1,995 1,995 1,995
Net income for common stock 177,642 169,340 156,840
Bank      
Revenues      
Total revenues 306,398 313,511 327,917
Expenses      
Total expenses 178,195 251,702 217,008
Operating income (loss)      
Operating income 128,203 61,809 110,909
Income before income taxes 130,559 69,271 112,034
Income taxes 29,325 11,688 23,061
Net income (loss) 101,234 57,583 88,973
Preferred stock dividends of subsidiaries 0 0 0
Net income for common stock 101,234 57,583 88,973
Other      
Revenues      
Total revenues 4,345 944 89
Expenses      
Total expenses 26,040 19,810 17,355
Operating income (loss)      
Operating income (21,695) (18,866) (17,266)
Income before income taxes (43,481) (40,400) (37,765)
Income taxes (10,666) (11,196) (9,729)
Net income (loss) (32,815) (29,204) (28,036)
Preferred stock dividends of subsidiaries (105) (105) (105)
Net income for common stock $ (32,710) $ (29,099) $ (27,931)