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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues        
Electric $ 280,030 $ 292,270 $ 804,604 $ 807,415
Gas 41,060 42,798 261,530 245,139
Total Revenues 321,090 335,068 1,066,134 1,052,554
Operating expenses        
Fuel, purchased supply and direct transmission expense (exclusive of depreciation and depletion shown separately below) 88,943 108,920 322,013 338,994
Operating and maintenance 53,240 54,654 163,941 160,785
Administrative and general 29,355 28,146 94,058 87,010
Property and other taxes 41,763 46,466 131,043 140,209
Depreciation and depletion 52,159 48,588 157,787 145,705
Total Operating Expenses 265,460 286,774 868,842 872,703
Operating income 55,630 48,294 197,292 179,851
Interest expense, net (28,725) (25,332) (85,144) (73,081)
Other income, net 4,127 4,157 12,926 11,791
Income before income taxes 31,032 27,119 125,074 118,561
Income tax (expense) benefit (1,697) 249 (14,085) (2,297)
Net Income $ 29,335 $ 27,368 $ 110,989 $ 116,264
Average Common Shares Outstanding 60,442,164 56,310,526 60,010,609 54,901,161
Basic Earnings per Average Common Share $ 0.48 $ 0.48 $ 1.85 $ 2.12
Diluted Earnings per Average Common Share 0.48 0.47 1.85 2.09
Dividends Declared per Common Share $ 0.640 $ 0.630 $ 1.920 $ 1.89