| | |
Per Series A Bond
|
| |
Total
|
| ||||||
Public offering price(1)
|
| | | | 99.730% | | | | | $ | 423,852,500 | | |
Underwriting discount
|
| | | | 0.650% | | | | | $ | 2,762,500 | | |
Proceeds, before expenses, to us
|
| | | | 99.080% | | | | | $ | 421,090,000 | | |
| BNY Mellon Capital Markets, LLC | | |
Citigroup
|
|
| Goldman Sachs & Co. LLC | | |
Wells Fargo Securities
|
|
| | |
Page
|
| |||
| | | | S-1 | | | |
| | | | S-2 | | | |
| | | | S-3 | | | |
| | | | S-4 | | | |
| | | | S-5 | | | |
| | | | S-6 | | | |
| | | | S-7 | | | |
| | | | S-8 | | | |
| | | | S-9 | | | |
| | | | S-13 | | | |
| | | | S-16 | | | |
| | | | S-22 | | | |
| | | | S-22 | | |
| | | | | 1 | | | |
| | | | | 1 | | | |
| | | | | 1 | | | |
| | | | | 2 | | | |
| | | | | 2 | | | |
| | | | | 3 | | | |
| | | | | 5 | | | |
| | | | | 5 | | | |
| | | | | 25 | | | |
| | | | | 27 | | | |
| | | | | 27 | | |
(In thousands)
|
| |
Three Months Ended
March 31, 2021 (unaudited) |
| |
Years ended December 31,
|
| ||||||||||||||||||||||||||||||
|
2020
|
| |
2019
|
| |
2018
|
| |
2017
|
| |
2016
|
| |||||||||||||||||||||||
Income Statement Data
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| ||||||||||||||||||
Operating revenues
|
| | | $ | 987,274 | | | | | $ | 3,547,527 | | | | | $ | 3,232,551 | | | | | $ | 3,096,174 | | | | | $ | 2,887,359 | | | | | $ | 2,805,955 | | |
Operating expenses
|
| | | | 821,839 | | | | | | 2,807,118 | | | | | | 2,550,902 | | | | | | 2,460,337 | | | | | | 2,204,005 | | | | | | 2,133,521 | | |
Operating income
|
| | | | 165,435 | | | | | | 740,409 | | | | | | 681,649 | | | | | | 635,837 | | | | | | 683,354 | | | | | | 672,434 | | |
Net income
|
| | | | 98,398 | | | | | | 457,934 | | | | | | 410,852 | | | | | | 377,717 | | | | | | 376,726 | | | | | | 334,254 | | |
(In thousands)
|
| |
As of
March 31, 2021 (unaudited) |
| |
As of December 31,
|
| ||||||||||||||||||||||||||||||
|
2020
|
| |
2019
|
| |
2018
|
| |
2017
|
| |
2016
|
| |||||||||||||||||||||||
Balance Sheet Data
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| ||||||||||||||||||
Total assets
|
| | | $ | 13,582,647 | | | | | $ | 13,455,974 | | | | | $ | 12,185,191 | | | | | $ | 11,409,719 | | | | | $ | 10,630,246 | | | | | $ | 10,035,044 | | |
Long-term debt(1)
|
| | | | 3,914,749 | | | | | | 3,914,835 | | | | | | 3,518,136 | | | | | | 3,254,016 | | | | | | 3,059,135 | | | | | | 2,766,010 | | |
Common stockholder’s equity
|
| | | | 5,071,662 | | | | | | 5,044,786 | | | | | | 4,387,825 | | | | | | 4,199,317 | | | | | | 3,587,127 | | | | | | 3,470,387 | | |
(Dollars in thousands)
|
| |
As of March 31, 2021
|
| |||||||||||||||||||||
|
Actual
|
| |
As Adjusted
|
| ||||||||||||||||||||
|
$
|
| |
%
|
| |
$
|
| |
%
|
| ||||||||||||||
Capitalization | | |
|
| |
|
| |
|
| |
|
| ||||||||||||
Long-term debt
|
| | | $ | 3,914,749 | | | | | | 42.8% | | | | | $ | 4,339,749 | | | | | | 45.6% | | |
Short-term debt(1)
|
| | | | 32,100 | | | | | | 0.4 | | | | | | — | | | | | | 0.0 | | |
Preferred stock
|
| | | | 116,200 | | | | | | 1.3 | | | | | | 116,200 | | | | | | 1.2 | | |
Common stockholder’s equity
|
| | | | 5,071,662 | | | | | | 55.5 | | | | | | 5,071,662 | | | | | | 53.2 | | |
Total capitalization
|
| | | $ | 9,134,711 | | | | | | 100.0% | | | | | $ | 9,527,611 | | | | | | 100.0% | | |
Underwriters
|
| |
Principal Amount
of Series A Bonds |
| |||
BNY Mellon Capital Markets, LLC
|
| | | $ | 102,000,000 | | |
Citigroup Global Markets Inc.
|
| | | | 102,000,000 | | |
Goldman Sachs & Co. LLC
|
| | | | 102,000,000 | | |
Wells Fargo Securities, LLC
|
| | | | 102,000,000 | | |
Siebert Williams Shank & Co., LLC
|
| | | | 17,000,000 | | |
Total
|
| | | $ | 425,000,000 | | |
| | |
Page
|
| |||
| | | | 1 | | | |
| | | | 1 | | | |
| | | | 1 | | | |
| | | | 2 | | | |
| | | | 2 | | | |
| | | | 3 | | | |
| | | | 5 | | | |
| | | | 5 | | | |
| | | | 25 | | | |
| | | | 27 | | | |
| | | | 27 | | |
| BNY Mellon Capital Markets, LLC | | |
Citigroup
|
|
| Goldman Sachs & Co. LLC | | |
Wells Fargo Securities
|
|
+]48NU9_0AZ F,'3'(.>\OKML4:Y,DS;CSYIB(R9LD\/C>\Q'AZ*5BM*Q%*UB- _=[
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MC>;;#,ZUS:3:-Q6ND1% 11R$H@9(Q5T%F6&X>R+(K%[/"=%1]D!$.!DDX4Q'<\_
M9CQ3@O'3$LG?LR9&I>+J6P4$Y$75HOECCJQ!I.%"$4,BU&2DTQ54[H@FF!C#
M[ #P-T#6_!5,UAP!A?77'B!4*5A'&-*QA7!!N1LJ[CJ; ,8,DH\2(=4!DI@[
M,SMT<3G.HY6.
64BU%@7;BN@NB"J9>^F3X,NYYGGO%,>+'6;7O:?
%,]6PC#9.S#8G4>F")S(M6U\JN#8V/>.S>(D"IU7)
M&X=U7PU_91X%U3IF=)/3OI38RD:-K349!W;K:FR')V;+XX8SF5\DN&!E%&3>
M:FV&1\36XM1/(8BBI3/5F;E9-J4R:)S *@E 2E$?H / _HA+)7;,W5=UN
M?A; U;K>CKN8248RK=%QW"*^ JLP7<)IK>&H4W=$0-W1 >SL'@?M<#\.#L]:
MLZ2Z];L,'84&JA47*T'+,)9)NJ
JRP'\/\ Q9^KKM5P+'W3V_,%T>^"!K3^
M)BE<#K_@. X#@. X#@. X#@. X#@. X#@. X#@. X#@. X#@. X#@. X#@.
MX#@. X#@. X$5 ]P*H^K@]V" ]:![@7VEY ^U'^6#^#_K+[:\""'_^0/@2
M;=.[Z@;/^HY]S=AZN[Z@?O*X_G/_ ,F_][_W'VPX'2'2Y]R+(/JR/=(/ZKGW
M(OM8@?=!_E(__/UL]%X$CUA^H$Y]1_J/)_;#]0/WDO\ 5SZS_P!\_P!Q[W C
M(Z67V@Y4]5A]M\-ZK+[0?J*?W5/_ %?_ 'E_@7;P(4O_ .0/@>D8<]UW%?\
M]4KW2*/[CGNN_;/%^Y7_ "D?P']<_ X$IN0O6=8W]4Q]2(OW0O6=?:59?