XML 65 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
OPERATING REVENUES:        
OPERATING REVENUES $ 731,638 $ 740,698 $ 1,315,860 $ 1,352,118
Operating Expenses        
Fuel for power generation 188,979 112,585 336,227 229,620
Purchased power 170,861 164,092 292,171 281,208
Gas purchased for resale 17,274 9,492 54,894 41,109
Deferred energy (86,687) 10,490 (165,752) (1,249)
Merger related costs 13,552 0 13,552 0
Energy efficiency program costs 12,599 24,600 22,444 44,025
Other operating expenses 106,798 103,371 211,470 206,972
Maintenance 24,046 24,650 48,952 57,176
Depreciation and amortization 98,884 96,316 194,886 187,178
Taxes other than income 15,846 14,266 32,322 28,775
Total Operating Expenses 562,152 559,862 1,041,166 1,074,814
OPERATING INCOME 169,486 180,836 274,694 277,304
OTHER INCOME (EXPENSE):        
Interest expense (net of AFUDC-debt) (73,530) (74,564) (146,867) (152,495)
Interest income (expense) on regulatory items (16) (1,977) (843) (4,179)
AFUDC - equity 2,250 2,319 5,139 4,251
Other income 3,813 6,291 7,633 10,485
Other expense (4,036) (4,640) (8,287) (7,700)
Total Other Income (Expense) (71,519) (72,571) (143,225) (149,638)
Income Before Income Tax Expense 97,967 108,265 131,469 127,666
Income Tax Expense (Benefit) 34,734 38,826 46,761 46,054
NET INCOME 63,233 69,439 84,708 81,612
Other comprehensive income (loss):        
Change in compensation retirement benefits liability and amortization 246 154 492 309
Change in market value of risk management assets and liabilities 297 (229) 496 (475)
Unrealized net gain/(loss) on investment (65) 0 (65) 0
OTHER COMPREHENSIVE INCOME(LOSS) 478 (75) 923 (166)
COMPREHENSIVE INCOME 63,711 69,364 85,631 81,446
Amount per share basic and diluted        
Net income per share - basic $ 0.27 $ 0.29 $ 0.36 $ 0.35
Net income per share - diluted $ 0.27 $ 0.29 $ 0.36 $ 0.34
Weighted Average Shares of Common Stock Outstanding - basic 235,489,559 235,999,750 235,342,448 235,999,750
Weighted Average Shares of Common Stock Outstanding - diluted 237,401,400 [1] 237,903,276 [1] 237,204,505 [1] 237,715,070 [1]
Dividends Declared Per Share of Common Stock $ 0.19 $ 0.17 $ 0.38 $ 0.30
Nevada Power Company [Member]
       
OPERATING REVENUES:        
OPERATING REVENUES 537,124 553,143 908,987 948,831
Operating Expenses        
Fuel for power generation 144,246 81,258 249,777 161,807
Purchased power 129,396 135,276 210,804 216,807
Deferred energy (63,748) 5,053 (109,103) 7,224
Merger related costs 8,867 0 8,867 0
Energy efficiency program costs 10,842 21,200 18,809 36,974
Other operating expenses 70,100 68,650 137,492 135,112
Maintenance 15,889 16,988 33,964 40,061
Depreciation and amortization 70,405 69,131 139,066 134,121
Taxes other than income 9,632 8,596 19,591 17,050
Total Operating Expenses 395,629 406,152 709,267 749,156
OPERATING INCOME 141,495 146,991 199,720 199,675
OTHER INCOME (EXPENSE):        
Interest expense (net of AFUDC-debt) (51,643) (52,602) (102,902) (107,007)
Interest income (expense) on regulatory items (181) (1,849) (983) (3,865)
AFUDC - equity 1,826 1,577 4,192 2,990
Other income 978 5,392 3,382 7,101
Other expense (1,833) (2,993) (4,234) (4,339)
Total Other Income (Expense) (50,853) (50,475) (100,545) (105,120)
Income Before Income Tax Expense 90,642 96,516 99,175 94,555
Income Tax Expense (Benefit) 31,977 34,219 35,065 33,574
NET INCOME 58,665 62,297 64,110 60,981
Other comprehensive income (loss):        
Change in compensation retirement benefits liability and amortization 97 64 194 127
COMPREHENSIVE INCOME 58,762 62,361 64,304 61,108
Sierra Pacific Power Company [Member]
       
OPERATING REVENUES:        
Electric 174,302 168,007 346,929 337,813
Gas 20,208 19,544 59,937 65,466
OPERATING REVENUES 194,510 187,551 406,866 403,279
Operating Expenses        
Fuel for power generation 44,733 31,327 86,450 67,813
Purchased power 41,465 28,816 81,367 64,401
Gas purchased for resale 17,274 9,492 54,894 41,109
Deferral of energy - electric-net (16,963) 4,314 (36,298) (8,356)
Deferral of energy - gas-net (5,976) 1,123 (20,351) (117)
Merger related costs 3,520 0 3,520 0
Energy efficiency program costs 1,757 3,400 3,635 7,051
Other operating expenses 36,256 33,654 72,061 70,086
Maintenance 8,157 7,662 14,988 17,115
Depreciation and amortization 28,479 27,185 55,820 53,057
Taxes other than income 6,175 5,625 12,470 11,488
Total Operating Expenses 164,877 152,598 328,556 323,647
OPERATING INCOME 29,633 34,953 78,310 79,632
OTHER INCOME (EXPENSE):        
Interest expense (net of AFUDC-debt) (15,373) (15,379) (30,898) (32,352)
Interest income (expense) on regulatory items 165 (128) 140 (314)
AFUDC - equity 424 742 947 1,261
Other income 2,518 599 3,658 2,782
Other expense (1,573) (1,276) (2,821) (2,611)
Total Other Income (Expense) (13,839) (15,442) (28,974) (31,234)
Income Before Income Tax Expense 15,794 19,511 49,336 48,398
Income Tax Expense (Benefit) 5,018 6,832 16,656 17,075
NET INCOME 10,776 12,679 32,680 31,323
Other comprehensive income (loss):        
Change in compensation retirement benefits liability and amortization 58 43 117 85
COMPREHENSIVE INCOME $ 10,834 $ 12,722 $ 32,797 $ 31,408
[1] The denominator does not include stock equivalents for options issued under the non-qualified stock option plan due to conversion prices being higher than market prices for the periods ending June 30, 2012. If the conditions for conversion were met under this plan, 327,503 and 330,322 shares, would be included for the three and six months ended June 30, 2012, respectively.