XML 22 R2.htm IDEA: XBRL DOCUMENT v3.20.4
Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Revenues      
Revenues $ 2,579,775 $ 2,873,948 $ 2,860,849
Expenses      
Total expenses 2,268,282 2,525,927 2,527,493
Operating income (loss)      
Operating income 311,493 348,021 333,356
Retirement defined benefits expense—other than service costs (3,210) (2,806) (5,962)
Interest expense, net – other than on deposit liabilities and other bank borrowings (88,694) (90,899) (88,677)
Allowance for borrowed funds used during construction 2,992 4,453 4,867
Allowance for equity funds used during construction 8,768 11,987 10,877
Gain on sale of investment securities, net 9,275 653 0
Income before income taxes 240,624 271,409 254,461
Income taxes 40,910 51,637 50,797
Net income (loss) 199,714 219,772 203,664
Preferred stock dividends of subsidiaries 1,890 1,890 1,890
Net income for common stock $ 197,824 $ 217,882 $ 201,774
Basic earnings per common share (in dollars per share) $ 1.81 $ 2.00 $ 1.85
Diluted earnings per common share (in dollars per share) $ 1.81 $ 1.99 $ 1.85
Weighted-average number of common shares outstanding (in shares) 109,140 108,949 108,855
Net effect of potentially dilutive shares (in shares) 216 458 291
Weighted-average shares assuming dilution (in shares) 109,356 109,407 109,146
Electric utility      
Revenues      
Revenues $ 2,265,320 $ 2,545,942 $ 2,546,525
Expenses      
Total expenses 1,996,770 2,291,564 2,304,864
Operating income (loss)      
Operating income 268,550 254,378 241,661
Income before income taxes 211,753 197,140 180,426
Income taxes 40,418 38,305 34,778
Net income (loss) 171,335 158,835 145,648
Preferred stock dividends of subsidiaries 1,995 1,995 1,995
Net income for common stock 169,340 156,840 143,653
Bank      
Revenues      
Revenues 313,511 327,917 314,275
Expenses      
Total expenses 251,702 217,008 206,040
Operating income (loss)      
Operating income 61,809 110,909 108,235
Income before income taxes 69,271 112,034 106,578
Income taxes 11,688 23,061 24,069
Net income (loss) 57,583 88,973 82,509
Preferred stock dividends of subsidiaries 0 0 0
Net income for common stock 57,583 88,973 82,509
Other      
Revenues      
Revenues 944 89 49
Expenses      
Total expenses 19,810 17,355 16,589
Operating income (loss)      
Operating income (18,866) (17,266) (16,540)
Income before income taxes (40,400) (37,765) (32,543)
Income taxes (11,196) (9,729) (8,050)
Net income (loss) (29,204) (28,036) (24,493)
Preferred stock dividends of subsidiaries (105) (105) (105)
Net income for common stock $ (29,099) $ (27,931) $ (24,388)