XML 18 R2.htm IDEA: XBRL DOCUMENT v3.19.1
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
OPERATING REVENUES $ 740,530 $ 692,714
OPERATING EXPENSES    
Fuel and purchased power 230,588 197,110
Operations and maintenance 245,634 265,682
Depreciation and amortization 148,707 144,825
Taxes other than income taxes 55,090 53,600
Other expenses 427 163
Total 680,446 661,380
OPERATING INCOME 60,084 31,334
OTHER INCOME (DEDUCTIONS)    
Allowance for equity funds used during construction 11,188 14,079
Pension and other postretirement non-service credits - net 5,114 12,859
Other income (Note 9) 7,169 3,985
Other expense (Note 9) (4,358) (3,229)
Total 19,113 27,694
INTEREST EXPENSE    
Interest charges 60,653 58,954
Allowance for borrowed funds used during construction (6,665) (6,755)
Total 53,988 52,199
INCOME BEFORE INCOME TAXES 25,209 6,829
INCOME TAXES 2,418 (1,265)
NET INCOME 22,791 8,094
Less: Net income attributable to noncontrolling interests (Note 6) 4,873 4,873
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 17,918 $ 3,221
WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING    
WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING - BASIC (in shares) 112,337 112,017
WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING - DILUTED (in shares) 112,735 112,493
EARNINGS PER WEIGHTED-AVERAGE COMMON SHARE OUTSTANDING    
Net income attributable to common shareholders - basic (in dollars per share) $ 0.16 $ 0.03
Net income attributable to common shareholders - diluted (in dollars per share) $ 0.16 $ 0.03
APS    
OPERATING REVENUES $ 740,530 $ 692,006
OPERATING EXPENSES    
Fuel and purchased power 230,588 202,010
Operations and maintenance 240,375 254,601
Depreciation and amortization 148,685 144,112
Taxes other than income taxes 55,078 53,242
Other expenses 427 163
Total 675,153 654,128
OPERATING INCOME 65,377 37,878
OTHER INCOME (DEDUCTIONS)    
Allowance for equity funds used during construction 11,188 14,079
Pension and other postretirement non-service credits - net 5,499 13,197
Other income (Note 9) 6,416 3,772
Other expense (Note 9) (3,878) (2,945)
Total 19,225 28,103
INTEREST EXPENSE    
Interest charges 56,665 56,158
Allowance for borrowed funds used during construction (6,665) (6,755)
Total 50,000 49,403
INCOME BEFORE INCOME TAXES 34,602 16,578
INCOME TAXES 1,453 2,106
NET INCOME 33,149 14,472
Less: Net income attributable to noncontrolling interests (Note 6) 4,873 4,873
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 28,276 $ 9,599