Revenues (Tables)

9 Months Ended

Sep. 30, 2024

The following tables disaggregate revenues by major source, timing of revenue recognition, and segment:


	Three months ended September 30, 2024								Nine months ended September 30, 2024
(in thousands)	Electric utility		Bank		Other		Total		Electric utility		Bank		Other		Total
Revenues from contracts with customers
Electric energy sales - residential	$	272,541	$	—	$	—	$	272,541	$	758,602	$	—	$	—	$	758,602
Electric energy sales - commercial	268,538		—		—		268,538		761,788		—		—		761,788
Electric energy sales - large light and power	294,421		—		—		294,421		846,448		—		—		846,448
Electric energy sales - other	4,532		—		—		4,532		14,087		—		—		14,087
Bank fees	—		13,475		—		13,475		—		38,713		—		38,713
Other sales	—		—		2,897		2,897		—		—		9,167		9,167
Total revenues from contracts with customers	840,032		13,475		2,897		856,404		2,380,925		38,713		9,167		2,428,805
Revenues from other sources
Regulatory revenue	(19,924)		—		—		(19,924)		780		—		—		780
Bank interest and dividend income	—		87,655		—		87,655		—		261,768		—		261,768
Other bank noninterest income	—		4,014		—		4,014		—		11,750		—		11,750
Other	9,509		—		725		10,234		28,821		—		977		29,798
Total revenues from other sources	(10,415)		91,669		725		81,979		29,601		273,518		977		304,096
Total revenues	$	829,617	$	105,144	$	3,622	$	938,383	$	2,410,526	$	312,231	$	10,144	$	2,732,901
Timing of revenue recognition
Services/goods transferred at a point in time	$	—	$	13,475	$	—	$	13,475	$	—	$	38,713	$	—	$	38,713
Services/goods transferred over time	840,032		—		2,897		842,929		2,380,925		—		9,167		2,390,092
Total revenues from contracts with customers	$	840,032	$	13,475	$	2,897	$	856,404	$	2,380,925	$	38,713	$	9,167	$	2,428,805


	Three months ended September 30, 2023								Nine months ended September 30, 2023
(in thousands)	Electric utility		Bank		Other		Total		Electric utility		Bank		Other		Total
Revenues from contracts with customers
Electric energy sales - residential	$	257,790	$	—	$	—	$	257,790	$	753,207	$	—	$	—	$	753,207
Electric energy sales - commercial	257,876		—		—		257,876		762,454		—		—		762,454
Electric energy sales - large light and power	284,607		—		—		284,607		855,396		—		—		855,396
Electric energy sales - other	4,688		—		—		4,688		14,628		—		—		14,628
Bank fees	—		12,067		—		12,067		—		36,370		—		36,370
Other sales	—		—		5,016		5,016		—		—		13,361		13,361
Total revenues from contracts with customers	804,961		12,067		5,016		822,044		2,385,685		36,370		13,361		2,435,416
Revenues from other sources
Regulatory revenue	(20,927)		—		—		(20,927)		3,716		—		—		3,716
Bank interest and dividend income	—		85,636		—		85,636		—		246,856		—		246,856
Other bank noninterest income	—		3,271		—		3,271		—		8,490		—		8,490
Other	10,953		—		896		11,849		30,138		—		1,179		31,317
Total revenues from other sources	(9,974)		88,907		896		79,829		33,854		255,346		1,179		290,379
Total revenues	$	794,987	$	100,974	$	5,912	$	901,873	$	2,419,539	$	291,716	$	14,540	$	2,725,795
Timing of revenue recognition
Services/goods transferred at a point in time	$	—	$	12,067	$	—	$	12,067	$	—	$	36,370	$	—	$	36,370
Services/goods transferred over time	804,961		—		5,016		809,977		2,385,685		—		13,361		2,399,046
Total revenues from contracts with customers	$	804,961	$	12,067	$	5,016	$	822,044	$	2,385,685	$	36,370	$	13,361	$	2,435,416