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Condensed Consolidated Statements of Income (unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Revenues        
Revenues $ 790,610 $ 833,239 $ 2,281,072 $ 2,420,670
Expenses        
Total expenses 738,564 982,959 2,112,859 4,181,092
Operating income (loss)        
Operating income (loss) 52,046 (149,720) 168,213 (1,760,422)
Retirement defined benefits credit—other than service costs 817 849 2,653 2,851
Interest expense, net (26,211) (32,085) (87,679) (96,076)
Allowance for borrowed funds used during construction 1,500 1,331 4,379 4,061
Allowance for equity funds used during construction 3,821 3,300 11,108 10,276
Interest income 6,960 3,662 27,162 9,929
Gain (loss) on sale of subsidiaries and impairment loss on assets sold and held for sale 1,013 0 (12,376) 0
Income (loss) before income taxes 39,946 (172,663) 113,460 (1,829,381)
Income tax expense (benefit) 8,728 (49,954) 28,540 (479,109)
Income (loss) from continuing operations 31,218 (122,709) 84,920 (1,350,272)
Preferred stock dividends of subsidiaries 471 471 1,417 1,417
Income (loss) from continuing operations for common stock 30,747 (123,180) 83,503 (1,351,689)
Income (loss) from discontinued operations 0 18,778 0 (6,075)
Net income (loss) for common stock $ 30,747 $ (104,402) $ 83,503 $ (1,357,764)
Continuing operations - Basic earnings (loss) per common share (in dollars per share) $ 0.18 $ (1.08) $ 0.48 $ (12.11)
Discontinued operations - Basic earnings (loss) per common share (in dollars per share) 0 0.16 0 (0.05)
Basic earnings (loss) per common share (in dollars per share) 0.18 (0.91) 0.48 (12.16)
Continuing operations - Diluted earnings (loss) per common share (in dollars per share) 0.18 (1.08) 0.48 (12.11)
Discontinued operations - Diluted earnings (loss) per common share (in dollars per share) 0 0.16 0 (0.05)
Diluted earnings (loss) per common share (in dollars per share) $ 0.18 $ (0.91) $ 0.48 $ (12.16)
Weighted-average number of common shares outstanding:        
Basic (in shares) 172,617 114,358 172,531 111,636
Diluted (in shares) 172,916 114,358 172,939 111,636
Electric utility        
Revenues        
Revenues $ 787,428 $ 829,617 $ 2,268,276 $ 2,410,526
Expenses        
Total expenses 724,635 934,181 2,065,002 4,096,175
Operating income (loss)        
Operating income (loss) 62,793 (104,564) 203,274 (1,685,649)
Other        
Revenues        
Revenues 3,182 3,622 12,796 10,144
Expenses        
Total expenses 13,929 48,778 47,857 84,917
Operating income (loss)        
Operating income (loss) $ (10,747) $ (45,156) $ (35,061) $ (74,773)