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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Revenues      
Revenues $ 2,860,849 $ 2,555,625 $ 2,380,654
Expenses      
Total expenses 2,527,493 2,209,392 2,024,816
Operating income (loss)      
Operating income 333,356 346,233 355,838
Merger termination fee 0 0 90,000
Retirement defined benefits expense—other than service costs (5,962) (7,942) (7,663)
Interest expense, net – other than on deposit liabilities and other bank borrowings (88,677) (78,972) (75,803)
Allowance for borrowed funds used during construction 4,867 4,778 3,144
Allowance for equity funds used during construction 10,877 12,483 8,325
Income before income taxes 254,461 276,580 373,841
Income taxes 50,797 109,393 123,695
Net income (loss) 203,664 167,187 250,146
Preferred stock dividends of subsidiaries 1,890 1,890 1,890
Net income for common stock $ 201,774 $ 165,297 $ 248,256
Basic earnings per common share (in dollars per share) $ 1.85 $ 1.52 $ 2.30
Diluted earnings per common share (in dollars per share) $ 1.85 $ 1.52 $ 2.29
Weighted-average number of common shares outstanding (in shares) 108,855 108,749 108,102
Net effect of potentially dilutive shares (in shares) 291 184 207
Weighted-average shares assuming dilution (in shares) 109,146 108,933 108,309
Electric utility      
Revenues      
Revenues $ 2,546,525 $ 2,257,566 $ 2,094,368
Expenses      
Total expenses 2,304,864 1,994,042 1,804,298
Operating income (loss)      
Operating income 241,661 263,524 290,070
Income before income taxes 180,426 205,145 229,113
Income taxes 34,778 83,199 84,801
Net income (loss) 145,648 121,946 144,312
Preferred stock dividends of subsidiaries 1,995 1,995 1,995
Net income for common stock 143,653 119,951 142,317
Bank      
Revenues      
Revenues 314,275 297,640 285,924
Expenses      
Total expenses 206,040 198,104 197,697
Operating income (loss)      
Operating income 108,235 99,536 88,227
Income before income taxes 106,578 98,716 87,352
Income taxes 24,069 31,719 30,073
Net income (loss) 82,509 66,997 57,279
Preferred stock dividends of subsidiaries 0 0 0
Net income for common stock 82,509 66,997 57,279
Other      
Revenues      
Revenues 49 419 362
Expenses      
Total expenses 16,589 17,246 22,821
Operating income (loss)      
Operating income (16,540) (16,827) (22,459)
Income before income taxes (32,543) (27,281) 57,376
Income taxes (8,050) (5,525) 8,821
Net income (loss) (24,493) (21,756) 48,555
Preferred stock dividends of subsidiaries (105) (105) (105)
Net income for common stock $ (24,388) $ (21,651) $ 48,660