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Condensed Consolidated Statements of Income (unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Revenues    
Revenues $ 897,158 $ 928,237
Expenses    
Total expenses 820,739 834,719
Operating income (loss)    
Total operating income 76,419 93,518
Retirement defined benefits credit—other than service costs 1,282 1,152
Interest expense, net—other than on deposit liabilities and other bank borrowings (31,591) (28,798)
Allowance for borrowed funds used during construction 1,386 1,131
Allowance for equity funds used during construction 3,640 3,301
Interest income 3,133 0
Income before income taxes 54,269 70,304
Income taxes 11,674 15,110
Net income (loss) 42,595 55,194
Preferred stock dividends of subsidiaries 473 473
Net income for common stock $ 42,122 $ 54,721
Basic earnings per common share (in dollars per share) $ 0.38 $ 0.50
Diluted earnings per common share (in dollars per share) $ 0.38 $ 0.50
Weighted-average number of common shares outstanding (in shares) 110,218 109,514
Net effect of potentially dilutive shares (share-based compensation programs) (in shares) 258 311
Weighted-average shares assuming dilution (in shares) 110,476 109,825
Electric utility    
Revenues    
Revenues $ 788,578 $ 830,361
Expenses    
Total expenses 725,223 754,486
Operating income (loss)    
Total operating income 63,355 75,875
Income before income taxes 50,900 61,108
Income taxes 11,180 13,600
Net income (loss) 39,720 47,508
Preferred stock dividends of subsidiaries 499 499
Net income for common stock 39,221 47,009
Bank    
Revenues    
Revenues 105,144 93,857
Expenses    
Total expenses 79,612 70,337
Operating income (loss)    
Total operating income 25,532 23,520
Income before income taxes 25,813 23,707
Income taxes 4,879 5,145
Net income (loss) 20,934 18,562
Preferred stock dividends of subsidiaries 0 0
Net income for common stock 20,934 18,562
Other    
Revenues    
Revenues 3,436 4,019
Expenses    
Total expenses 15,904 9,896
Operating income (loss)    
Total operating income (12,468) (5,877)
Income before income taxes (22,444) (14,511)
Income taxes (4,385) (3,635)
Net income (loss) (18,059) (10,876)
Preferred stock dividends of subsidiaries (26) (26)
Net income for common stock $ (18,033) $ (10,850)