Segment financial information (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Segment Financial Information

Segment financial information was as follows:


(in thousands)	Electric utility		Bank		Other		Total
2023


Revenues	3,269,521		394,663		17,982		3,682,166
Depreciation and amortization	270,195		28,491		12,111		310,797
Interest income	6,454		—		2,651		9,105
Interest expense, net	86,140		82,797		39,392		208,329
Income (loss) before income taxes	247,140		63,401		(64,840)		245,701
Income taxes (benefit)	51,193		10,039		(16,659)		44,573
Net income (loss)	195,947		53,362		(48,181)		201,128
Preferred stock dividends of subsidiaries	1,995		—		(105)		1,890
Net income (loss) for common stock	193,952		53,362		(48,076)		199,238
Capital expenditures1	438,775		5,569		3,952		448,296
Assets (at December 31, 2023)	7,283,554		9,673,192		287,075		17,243,821
2022
Revenues from external customers	$	3,408,583	$	321,068	$	12,334	$	3,741,985
Intersegment revenues (eliminations)	4		—		(4)		—
Revenues	3,408,587		321,068		12,330		3,741,985
Depreciation and amortization	260,744		24,436		9,661		294,841
Interest expense, net	76,416		13,301		26,986		116,703
Income (loss) before income taxes	240,600		102,241		(38,646)		304,195
Income taxes (benefit)	49,676		22,252		(10,761)		61,167
Net income (loss)	190,924		79,989		(27,885)		243,028
Preferred stock dividends of subsidiaries	1,995		—		(105)		1,890
Net income (loss) for common stock	188,929		79,989		(27,780)		241,138
Capital expenditures1	329,457		4,704		9,876		344,037
Assets (at December 31, 2022)	6,597,467		9,545,970		140,807		16,284,244
2021
Revenues from external customers	$	2,539,589	$	306,398	$	4,392	$	2,850,379
Intersegment revenues (eliminations)	47		—		(47)		—
Revenues	2,539,636		306,398		4,345		2,850,379
Depreciation and amortization	251,206		21,124		6,372		278,702
Interest expense, net	72,447		5,040		21,916		99,403
Income (loss) before income taxes	223,785		130,559		(43,481)		310,863
Income taxes (benefit)	44,148		29,325		(10,666)		62,807
Net income (loss)	179,637		101,234		(32,815)		248,056
Preferred stock dividends of subsidiaries	1,995		—		(105)		1,890
Net income (loss) for common stock	177,642		101,234		(32,710)		246,166
Capital expenditures1	292,000		11,131		11,393		314,524
Assets (at December 31, 2021)	6,491,625		9,181,603		149,409		15,822,637

1 Contributions in aid of construction balances are included in capital expenditures.