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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
OPERATING REVENUES (NOTE 2) $ 661,930 $ 740,530
OPERATING EXPENSES    
Fuel and purchased power 188,521 230,588
Operations and maintenance 221,318 245,634
Depreciation and amortization 154,079 148,707
Taxes other than income taxes 56,768 55,090
Other expenses 822 427
Total 621,508 680,446
OPERATING INCOME 40,422 60,084
OTHER INCOME (DEDUCTIONS)    
Allowance for equity funds used during construction 7,697 11,188
Pension and other postretirement non-service credits - net 13,911 5,114
Other income (Note 9) 12,569 7,169
Other expense (Note 9) (4,784) (4,358)
Total 29,393 19,113
INTEREST EXPENSE    
Interest charges 59,234 60,653
Allowance for borrowed funds used during construction (4,076) (6,665)
Total 55,158 53,988
INCOME BEFORE INCOME TAXES 14,657 25,209
INCOME TAXES (20,209) 2,418
NET INCOME 34,866 22,791
Less: Net income attributable to noncontrolling interests (Note 6) 4,873 4,873
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 29,993 $ 17,918
WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING    
WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING - BASIC (in shares) 112,594 112,337
WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING - DILUTED (in shares) 112,862 112,735
EARNINGS PER WEIGHTED-AVERAGE COMMON SHARE OUTSTANDING    
Net income attributable to common shareholders - basic (in dollars per share) $ 0.27 $ 0.16
Net income attributable to common shareholders - diluted (in dollars per share) $ 0.27 $ 0.16
APS    
OPERATING REVENUES (NOTE 2) $ 661,930 $ 740,530
OPERATING EXPENSES    
Fuel and purchased power 188,521 230,588
Operations and maintenance 218,265 240,375
Depreciation and amortization 154,058 148,685
Taxes other than income taxes 56,758 55,078
Other expenses 822 427
Total 618,424 675,153
OPERATING INCOME 43,506 65,377
OTHER INCOME (DEDUCTIONS)    
Allowance for equity funds used during construction 7,697 11,188
Pension and other postretirement non-service credits - net 14,262 5,499
Other income (Note 9) 11,633 6,416
Other expense (Note 9) (4,668) (3,878)
Total 28,924 19,225
INTEREST EXPENSE    
Interest charges 55,736 56,665
Allowance for borrowed funds used during construction (4,076) (6,665)
Total 51,660 50,000
INCOME BEFORE INCOME TAXES 20,770 34,602
INCOME TAXES (19,448) 1,453
NET INCOME 40,218 33,149
Less: Net income attributable to noncontrolling interests (Note 6) 4,873 4,873
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 35,345 $ 28,276