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STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Operating revenues $ 903,603 $ 916,797 $ 886,936
Operating expenses:      
Fuel and purchased power 229,109 244,751 233,465
Operations and maintenance 334,883 320,281 315,710
Depreciation and amortization 96,382 90,843 84,317
Taxes other than income taxes 71,000 70,863 65,533
Utilities operating expense 731,374 726,738 699,025
Operating income 172,229 190,059 187,911
Other income (deductions):      
Allowance for equity funds used during construction 3,453 3,025 7,023
Investment and interest income, net 18,377 38,853 34,797
Miscellaneous non-operating income 12,823 12,051 11,073
Miscellaneous non-operating deductions (11,980) (11,580) (11,038)
Nonoperating income 22,673 42,349 41,855
Interest charges (credits):      
Interest on long-term debt and revolving credit facility 75,424 72,970 71,544
Other interest 17,890 18,170 17,509
Capitalized interest (5,483) (5,022) (4,990)
Allowance for borrowed funds used during construction (3,612) (2,975) (4,983)
Interest expense 84,219 83,143 79,080
Income before income taxes 110,683 149,265 150,686
Income tax expense 26,368 51,004 53,918
Net income $ 84,315 $ 98,261 $ 96,768
Basic earnings per share $ 2.070 $ 2.420 $ 2.390
Diluted earnings per share 2.070 2.420 2.390
Dividends declared per share of common stock $ 1.415 $ 1.315 $ 1.225
Weighted average number of shares outstanding 40,521,364 40,414,556 40,350,688
Weighted average number of shares and dilutive potential shares outstanding 40,642,640 40,535,191 40,408,033