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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
OPERATING REVENUES (Note 2) $ 1,061,669 $ 1,000,249 $ 1,845,200 $ 1,696,724
OPERATING EXPENSES        
Fuel and purchased power 352,187 269,835 617,456 468,062
Operations and maintenance 245,387 229,690 463,729 459,745
Depreciation and amortization 186,497 158,750 373,102 316,570
Taxes other than income taxes 54,118 59,495 112,116 118,978
Other expenses 385 4,093 1,210 7,449
Total 838,574 721,863 1,567,613 1,370,804
OPERATING INCOME 223,095 278,386 277,587 325,920
OTHER INCOME (DEDUCTIONS)        
Allowance for equity funds used during construction 12,086 9,990 21,833 19,197
Pension and other postretirement non-service credits - net (Note 5) 25,257 28,175 49,066 55,966
Other income (Note 9) 1,682 12,207 3,386 24,636
Other expense (Note 9) (4,584) (5,184) (8,006) (9,037)
Total 34,441 45,188 66,279 90,762
INTEREST EXPENSE        
Interest charges 68,103 62,777 133,492 124,715
Allowance for borrowed funds used during construction (5,873) (5,199) (10,355) (10,193)
Total 62,230 57,578 123,137 114,522
INCOME BEFORE INCOME TAXES 195,306 265,996 220,729 302,160
INCOME TAXES 26,688 46,560 30,849 42,210
NET INCOME 168,618 219,436 189,880 259,950
Less: Comprehensive income attributable to noncontrolling interests 4,306 3,739 8,612 8,612
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS 164,312 215,697 181,268 251,338
APS        
OPERATING REVENUES (Note 2) 1,061,669 1,000,249 1,845,200 1,696,724
OPERATING EXPENSES        
Fuel and purchased power 352,187 269,835 617,456 468,062
Operations and maintenance 242,273 226,698 456,874 453,099
Depreciation and amortization 186,477 158,728 373,060 316,528
Taxes other than income taxes 54,094 59,478 112,053 118,950
Other expenses 385 4,093 1,210 7,449
Total 835,416 718,832 1,560,653 1,364,088
OPERATING INCOME 226,253 281,417 284,547 332,636
OTHER INCOME (DEDUCTIONS)        
Allowance for equity funds used during construction 12,086 9,990 21,833 19,197
Pension and other postretirement non-service credits - net (Note 5) 25,382 28,234 49,289 56,071
Other income (Note 9) 1,396 11,563 2,548 23,523
Other expense (Note 9) (2,786) (4,261) (4,634) (7,611)
Total 36,078 45,526 69,036 91,180
INTEREST EXPENSE        
Interest charges 64,223 59,930 126,532 119,318
Allowance for borrowed funds used during construction (5,689) (5,199) (10,111) (10,193)
Total 58,534 54,731 116,421 109,125
INCOME BEFORE INCOME TAXES 203,797 272,212 237,162 314,691
INCOME TAXES 29,522 48,725 34,381 51,044
NET INCOME 174,275 223,487 202,781 263,647
Less: Comprehensive income attributable to noncontrolling interests 4,306 3,739 8,612 8,612
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 169,969 $ 219,748 $ 194,169 $ 255,035