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Consolidated Statements of Income (unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Revenues        
Total revenues $ 623,912 $ 798,657 $ 1,261,774 $ 1,582,406
Expenses        
Total expenses 551,182 715,474 1,119,538 1,410,009
Operating income (loss)        
Total operating income 72,730 83,183 142,236 172,397
Interest expense, net—other than on deposit liabilities and other bank borrowings (18,906) (20,022) (38,006) (39,478)
Allowance for borrowed funds used during construction 682 523 1,181 1,137
Allowance for equity funds used during construction 1,896 1,387 3,309 [1] 2,996 [1]
Income before income taxes 56,402 65,071 108,720 137,052
Income taxes 20,911 23,317 40,890 49,038
Net income 35,491 41,754 67,830 [1] 88,014 [1]
Preferred stock dividends of subsidiaries 473 473 946 946
Net income for common stock $ 35,018 $ 41,281 $ 66,884 $ 87,068
Basic earnings per common share (in dollars per share) $ 0.33 $ 0.41 $ 0.63 $ 0.86
Diluted earnings per common share (in dollars per share) 0.33 0.41 0.63 0.85
Dividends per common share (in dollars per share) $ 0.31 $ 0.31 $ 0.62 $ 0.62
Weighted-average number of common shares outstanding (in shares) 107,418 101,495 105,361 101,439
Net effect of potentially dilutive shares (in shares) 276 330 298 606
Adjusted weighted-average shares (in shares) 107,694 101,825 105,659 102,045
Electric utility        
Revenues        
Total revenues $ 558,163 $ 738,429 $ 1,131,605 $ 1,458,491
Expenses        
Total expenses 492,002 668,361 1,007,808 1,317,757
Operating income (loss)        
Total operating income 66,161 70,068 123,797 140,734
Income before income taxes 52,451 55,126 95,674 112,292
Income taxes 19,111 20,397 34,961 41,644
Net income 33,340 34,729 60,713 70,648
Preferred stock dividends of subsidiaries 499 499 998 998
Net income for common stock 32,841 34,230 59,715 69,650
Bank        
Revenues        
Total revenues 65,783 60,616 130,131 124,235
Expenses        
Total expenses 46,057 42,660 89,774 83,748
Operating income (loss)        
Total operating income 19,726 17,956 40,357 40,487
Income before income taxes 19,726 17,956 40,357 40,488
Income taxes 6,875 6,420 14,031 14,553
Net income 12,851 11,536 26,326 25,935
Net income for common stock 12,851 11,536 26,326 25,935
Other        
Revenues        
Total revenues (34) (388) 38 (320)
Expenses        
Total expenses 13,123 4,453 21,956 8,504
Operating income (loss)        
Total operating income (13,157) (4,841) (21,918) (8,824)
Income before income taxes (15,775) (8,011) (27,311) (15,728)
Income taxes (5,075) (3,500) (8,102) (7,159)
Net income (10,700) (4,511) (19,209) (8,569)
Preferred stock dividends of subsidiaries (26) (26) (52) (52)
Net income for common stock $ (10,674) $ (4,485) $ (19,157) $ (8,517)
[1] As restated - See Note 1, “Basis of presentation - Restatement of previously issued financial statements.”