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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Operating revenues      
Electric $ 9,499,781 $ 9,275,986 $ 9,465,890
Natural gas 1,531,412 1,672,081 2,142,738
Other 75,727 76,419 77,507
Total operating revenues 11,106,920 11,024,486 11,686,135
Operating expenses      
Electric fuel and purchased power 3,717,685 3,762,953 4,210,142
Cost of natural gas sold and transported 732,689 904,794 1,372,479
Cost of sales — other 36,075 36,216 34,352
Operating and maintenance expenses 2,326,558 2,329,670 2,334,379
Conservation and demand side management program expenses 244,784 224,679 301,772
Depreciation and amortization 1,303,203 1,124,524 1,019,045
Taxes (other than income taxes) 532,071 511,675 465,836
Loss on Monticello life cycle management/extended power uprate project 0 129,463 0
Total operating expenses 8,893,065 9,023,974 9,738,005
Operating income 2,213,855 2,000,512 1,948,130
Other income, net 7,950 5,400 5,296
Equity earnings of unconsolidated subsidiaries 42,123 34,390 30,151
Allowance for funds used during construction — equity 60,547 55,936 89,750
Interest charges and financing costs      
Interest charges — includes other financing costs of $25,170, $24,175 and $22,986, respectively 646,907 595,282 566,608
Allowance for funds used during construction — debt (27,028) (26,248) (38,402)
Total interest charges and financing costs 619,879 569,034 528,206
Income before income taxes 1,704,596 1,527,204 1,545,121
Income taxes 581,217 542,719 523,815
Net income $ 1,123,379 $ 984,485 $ 1,021,306
Weighted average common shares outstanding:      
Basic (in shares) 508,794 507,768 503,847
Diluted (in shares) 509,465 508,168 504,117
Earnings per average common share:      
Basic (in dollars per share) $ 2.21 $ 1.94 $ 2.03
Diluted (in dollars per share) 2.21 1.94 2.03
Cash dividends declared per common share (in dollars per share) $ 1.36 $ 1.28 $ 1.20