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CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Document Fiscal Year Focus 2014 2013
Operating Revenues    
Electric Retail Sales $ 224,570 $ 220,860
Electric Wholesale Sales 43,421 34,398
Gas Retail Sales 38,570 50,988
Other Revenue 26,831 25,895
Total Operating Revenues 333,392 332,141
Operating Expenses    
Fuel 67,835 81,689
Purchased Energy 69,783 64,159
Transmission and Other PPFAC Recoverable Costs 6,528 3,186
Increase (Decrease) to Reflect PPFAC/PGA Recovery Treatment (8,920) (5,368)
Total Fuel and Purchased Energy 135,226 143,666
Operations and Maintenance 93,436 89,901
Depreciation 39,081 36,300
Amortization 6,176 8,289
Taxes Other Than Income Taxes 14,808 14,090
Total Operating Expenses 288,727 292,246
Operating Income 44,665 39,895
Other Income (Deductions)    
Interest Income 80 10
Other Income 2,142 1,767
Other Expense (730) (572)
Appreciation in Fair Value of Investments 255 1,038
Total Other Income (Deductions) 1,747 2,243
Interest Expense    
Long-Term Debt 17,888 18,254
Capital Leases 3,921 6,249
Other Interest Expense 483 (393)
Interest Capitalized (1,023) (675)
Interest Expense 21,269 23,435
Income Before Income Taxes 25,143 18,703
Income Tax Expense 9,668 7,358
Net Income 15,475 11,345
Weighted-Average Shares of Common Stock Outstanding (000)    
Basic (in shares) 41,737 41,540
Diluted (in shares) 42,084 41,875
Earnings Per Share    
Basic (in dollars per share) $ 0.37 $ 0.27
Diluted (in dollars per share) $ 0.37 $ 0.27
Dividends Declared Per Share (usd per share) $ 0.48 $ 0.435
TUCSON ELECTRIC POWER COMPANY
   
Operating Revenues    
Electric Retail Sales 186,015 184,881
Electric Wholesale Sales 42,084 34,398
Other Revenue 27,414 28,472
Total Operating Revenues 255,513 247,751
Operating Expenses    
Fuel 67,630 80,798
Purchased Energy 22,615 18,928
Transmission and Other PPFAC Recoverable Costs 3,909 865
Increase (Decrease) to Reflect PPFAC/PGA Recovery Treatment (1,730) (2,360)
Total Fuel and Purchased Energy 92,424 98,231
Operations and Maintenance 81,345 77,824
Depreciation 30,811 28,558
Amortization 7,099 9,222
Taxes Other Than Income Taxes 11,835 11,169
Total Operating Expenses 223,514 225,004
Operating Income 31,999 22,747
Other Income (Deductions)    
Interest Income 9 (4)
Other Income 1,912 1,168
Other Expense (2,115) (2,245)
Appreciation in Fair Value of Investments 255 1,038
Total Other Income (Deductions) 61 (43)
Interest Expense    
Long-Term Debt 14,240 14,573
Capital Leases 3,921 6,249
Other Interest Expense 313 (360)
Interest Capitalized (924) (493)
Interest Expense 17,550 19,969
Income Before Income Taxes 14,510 2,735
Income Tax Expense 5,338 1,257
Net Income $ 9,172 $ 1,478