XML 48 R2.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
OPERATING REVENUES $ 1,109,475 $ 1,124,841 $ 2,608,682 $ 2,573,487
OPERATING EXPENSES        
Fuel and purchased power 302,894 337,896 783,926 793,952
Operations and maintenance 220,729 210,035 647,628 675,654
Depreciation and amortization 100,353 106,350 301,068 319,550
Taxes other than income taxes 36,507 34,223 120,271 112,002
Other expenses 1,022 1,320 5,323 4,536
Total 661,505 689,824 1,858,216 1,905,694
OPERATING INCOME 447,970 435,017 750,466 667,793
OTHER INCOME (DEDUCTIONS)        
Allowance for equity funds used during construction 5,708 7,378 15,639 18,697
Other income (Note 11) 420 441 1,357 2,630
Other expense (Note 11) (5,696) (3,052) (12,433) (7,921)
Total 432 4,767 4,563 13,406
INTEREST EXPENSE        
Interest charges 52,242 62,034 162,209 183,251
Allowance for borrowed funds used during construction (3,830) (6,939) (10,428) (14,371)
Total 48,412 55,095 151,781 168,880
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 399,990 384,689 603,248 512,319
INCOME TAXES 147,116 131,416 219,160 176,229
INCOME FROM CONTINUING OPERATIONS 252,874 253,273 384,088 336,090
INCOME (LOSS) FROM DISCONTINUED OPERATIONS        
Net of income tax expense (benefit) of $(7) and $6,216 for three months ended September 30, 2012 and 2011 and $(1,047) and $7,121 for nine months ended September 30, 2012 and 2011 (Note 13) (11) 9,512 (1,595) 10,860
NET INCOME 252,863 262,785 382,493 346,950
Less: Net income attributable to noncontrolling interests (Note 7) 8,040 7,426 23,582 20,041
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS 244,823 255,359 358,911 326,909
WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING - BASIC (in shares) 109,555 109,128 109,449 109,003
WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING - DILUTED (in shares) 110,655 109,861 110,420 109,683
EARNINGS PER WEIGHTED-AVERAGE COMMON SHARE OUTSTANDING        
Income from continuing operations attributable to common shareholders - basic (in dollars per share) $ 2.23 $ 2.25 $ 3.29 $ 2.90
Net income attributable to common shareholders - basic (in dollars per share) $ 2.23 $ 2.34 $ 3.28 $ 3.00
Income from continuing operations attributable to common shareholders - diluted (in dollars per share) $ 2.21 $ 2.24 $ 3.26 $ 2.88
Net income attributable to common shareholders - diluted (in dollars per share) $ 2.21 $ 2.32 $ 3.25 $ 2.98
DIVIDENDS DECLARED PER SHARE (in dollars per share)     $ 1.575 $ 1.575
AMOUNTS ATTRIBUTABLE TO COMMON SHAREHOLDERS:        
Income from continuing operations, net of tax 244,834 245,838 360,515 316,001
Discontinued operations, net of tax (11) 9,521 (1,604) 10,908
Net income attributable to common shareholders $ 244,823 $ 255,359 $ 358,911 $ 326,909