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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Operating revenues      
Electric $ 9,275,986 $ 9,465,890 $ 9,034,045
Natural gas 1,672,081 2,142,738 1,804,679
Other 76,419 77,507 76,198
Total operating revenues 11,024,486 11,686,135 10,914,922
Operating expenses      
Electric fuel and purchased power 3,762,953 4,210,142 4,018,672
Cost of natural gas sold and transported 904,794 1,372,479 1,082,751
Cost of sales — other 36,216 34,352 33,323
Operating and maintenance expenses 2,329,670 2,334,379 2,273,532
Conservation and demand side management program expenses 224,679 301,772 260,726
Depreciation and amortization 1,124,524 1,019,045 977,863
Taxes (other than income taxes) 511,675 465,836 420,500
Loss on Monticello life cycle management/extended power uprate project 129,463 0 0
Total operating expenses 9,023,974 9,738,005 9,067,367
Operating income 2,000,512 1,948,130 1,847,555
Other income, net 5,400 5,296 2,972
Equity earnings of unconsolidated subsidiaries 34,390 30,151 30,020
Allowance for funds used during construction — equity 55,936 89,750 87,683
Interest charges and financing costs      
Interest charges — includes other financing costs of $24,175, $22,986 and $30,135, respectively 595,282 566,608 575,199
Allowance for funds used during construction — debt (26,248) (38,402) (39,179)
Total interest charges and financing costs 569,034 528,206 536,020
Income before income taxes 1,527,204 1,545,121 1,432,210
Income taxes 542,719 523,815 483,976
Net income $ 984,485 $ 1,021,306 $ 948,234
Weighted average common shares outstanding:      
Basic (in shares) 507,768 503,847 496,073
Diluted (in shares) 508,168 504,117 496,532
Earnings per average common share:      
Basic (in dollars per share) $ 1.94 $ 2.03 $ 1.91
Diluted (in dollars per share) 1.94 2.03 1.91
Cash dividends declared per common share (in dollars per share) $ 1.28 $ 1.20 $ 1.11