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Consolidated Statements of Income (unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Revenues        
Total revenues $ 717,176 $ 867,096 $ 1,978,950 $ 2,449,502
Expenses        
Total expenses 620,081 775,060 1,739,619 2,185,069
Operating income (loss)        
Total operating income 97,095 92,036 239,331 264,433
Interest expense, net—other than on deposit liabilities and other bank borrowings (19,229) (19,170) (57,235) (58,648)
Allowance for borrowed funds used during construction 737 740 1,918 1,877
Allowance for equity funds used during construction 2,057 1,937 5,366 4,933
Income before income taxes 80,660 75,543 189,380 212,595
Income taxes 29,516 27,264 70,406 76,302
Net income 51,144 48,279 118,974 136,293
Preferred stock dividends of subsidiaries 471 471 1,417 1,417
Net income for common stock $ 50,673 $ 47,808 $ 117,557 $ 134,876
Basic earnings per common share (in dollars per share) $ 0.47 $ 0.47 $ 1.11 $ 1.33
Diluted earnings per common share (in dollars per share) 0.47 0.46 1.11 1.32
Dividends per common share (in dollars per share) $ 0.31 $ 0.31 $ 0.93 $ 0.93
Weighted-average number of common shares outstanding (in shares) 107,457 102,416 106,067 101,768
Net effect of potentially dilutive shares (in shares) 281 610 280 710
Adjusted weighted-average shares (in shares) 107,738 103,026 106,347 102,478
Electric utility        
Revenues        
Total revenues $ 648,127 $ 803,565 $ 1,779,732 $ 2,262,056
Expenses        
Total expenses 565,470 727,409 1,573,278 2,045,166
Operating income (loss)        
Total operating income 82,657 76,156 206,454 216,890
Income before income taxes 68,894 62,419 164,568 174,711
Income taxes 25,390 23,042 60,351 64,686
Net income 43,504 39,377 104,217 110,025
Preferred stock dividends of subsidiaries 498 498 1,496 1,496
Net income for common stock 43,006 38,879 102,721 108,529
Bank        
Revenues        
Total revenues 69,091 63,536 199,222 187,771
Expenses        
Total expenses 48,289 43,030 138,063 126,778
Operating income (loss)        
Total operating income 20,802 20,506 61,159 60,993
Income before income taxes 20,802 20,506 61,159 60,994
Income taxes 7,351 7,253 21,382 21,806
Net income 13,451 13,253 39,777 39,188
Net income for common stock 13,451 13,253 39,777 39,188
Other        
Revenues        
Total revenues (42) (5) (4) (325)
Expenses        
Total expenses 6,322 4,621 28,278 13,125
Operating income (loss)        
Total operating income (6,364) (4,626) (28,282) (13,450)
Income before income taxes (9,036) (7,382) (36,347) (23,110)
Income taxes (3,225) (3,031) (11,327) (10,190)
Net income (5,811) (4,351) (25,020) (12,920)
Preferred stock dividends of subsidiaries (27) (27) (79) (79)
Net income for common stock $ (5,784) $ (4,324) $ (24,941) $ (12,841)