Commission | Registrant, State of Incorporation, | I.R.S. Employer |
File Number | Address and Telephone Number | Identification No. |
1-8809 | SCANA Corporation (a South Carolina corporation) 100 SCANA Parkway, Cayce, South Carolina | 29033 | 57-0784499 |
(803) 217-9000 | |||
1-3375 | South Carolina Electric & Gas Company (a South Carolina corporation) 100 SCANA Parkway, Cayce, South Carolina | 29033 | 57-0248695 |
(803) 217-9000 |
April 25, 2013 | By: /s/James E. Swan, IV James E. Swan, IV Controller |
Media Contact: | Investor Contacts: | ||||
Eric Boomhower | Iris Griffin | Byron Hinson | |||
(803) 217-7701 | (803) 217-6642 | (803) 217-5352 | |||
eboomhower@scana.com | igriffin@scana.com | bhinson@scana.com |
FINANCIAL INFORMATION | ||||||||||
Condensed Consolidated Statements of Income | ||||||||||
(Millions, except per share amounts) (Unaudited) | ||||||||||
Quarter Ended | ||||||||||
March 31, | ||||||||||
2013 | 2012 | |||||||||
Operating Revenues: | ||||||||||
Electric | $ | 583 | $ | 545 | ||||||
Gas-Regulated | 382 | 277 | ||||||||
Gas-Nonregulated | 346 | 285 | ||||||||
Total Operating Revenues | 1,311 | 1,107 | ||||||||
Operating Expenses: | ||||||||||
Fuel Used in Electric Generation | 186 | 181 | ||||||||
Purchased Power | 7 | 6 | ||||||||
Gas Purchased for Resale | 501 | 366 | ||||||||
Other Operation and Maintenance | 176 | 175 | ||||||||
Depreciation and Amortization | 93 | 89 | ||||||||
Other Taxes | 55 | 52 | ||||||||
Total Operating Expenses | 1,018 | 869 | ||||||||
Operating Income | 293 | 238 | ||||||||
Other Income (Expense) | ||||||||||
Other Income | 13 | 14 | ||||||||
Other Expense | (12) | (10) | ||||||||
Interest Charges, Net | (75) | (72) | ||||||||
Allowance for Equity Funds Used During Construction | 4 | 3 | ||||||||
Total Other Expense | (70) | (65) | ||||||||
Income Before Income Tax Expense | 223 | 173 | ||||||||
Income Tax Expense | 72 | 52 | ||||||||
Net Income | $ | 151 | $ | 121 | ||||||
Basic Earnings Per Share of Common Stock | $1.13 | $0.93 | ||||||||
Diluted Earnings Per Share of Common Stock(1) | $1.11 | $0.91 | ||||||||
Weighted Average Shares Outstanding (Millions): | ||||||||||
Basic | 134.4 | 130.3 | ||||||||
Diluted(1) | 136.1 | 132.2 | ||||||||
Dividends Declared Per Share of Common Stock | $0.5075 | $0.495 | ||||||||
Note (1): In May 2010, SCANA entered into an equity forward sales agreement which was settled via the issuance of 6.6 million shares of common stock in early March 2013. Diluted earnings per share reflects the Company’s use of the treasury stock method during periods in which the forward was outstanding and the average market price of SCANA’s common stock was above the per share adjusted forward sales price. |
Earnings per Share by Company: | ||||||||
(Unaudited) | ||||||||
Quarter Ended | ||||||||
March 31, | ||||||||
2013 | 2012 | |||||||
SC Electric & Gas | $0.68 | $0.55 | ||||||
PSNC Energy | 0.24 | 0.24 | ||||||
SCANA Energy-Georgia | 0.16 | 0.09 | ||||||
Corporate and Other | 0.05 | 0.05 | ||||||
Basic Earnings per Share | $1.13 | $0.93 | ||||||
Diluted Earnings per Share(1) | $1.11 | $0.91 | ||||||
Variances in Earnings per Share: | |||||||
(Unaudited) | |||||||
Quarter Ended | |||||||
March 31, | |||||||
2012 Basic Earnings per Share | $ | 0.93 | |||||
Variances: | |||||||
Electric Margin | 0.14 | ||||||
Natural Gas Margin | 0.16 | ||||||
Operations & Maintenance Expense | (0.01) | ||||||
Interest Expense (Net of AFUDC) | (0.01) | ||||||
Depreciation | (0.02) | ||||||
Other Taxes | (0.01) | ||||||
Other | (0.02) | ||||||
Dilution | (0.03) | ||||||
Variances in Earnings per Share | 0.20 | ||||||
2013 Basic Earnings per Share | $ | 1.13 | |||||
Additional Dilution re: Potential Common Stock(1) | (0.02) | ||||||
2013 Diluted Earnings per Share(1) | $ | 1.11 | |||||
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