|
Consolidated Statements of Operations and Comprehensive Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
|
3 Months Ended |
6 Months Ended |
|
Jun. 30, 2014
|
Jun. 30, 2013
|
Jun. 30, 2014
|
Jun. 30, 2013
|
| Operating revenues |
$ 759,159 |
$ 724,265 |
$ 1,441,105 |
$ 1,360,402 |
| Operating expenses |
|
|
|
|
| Operation and maintenance |
342,974 |
323,320 |
672,249 |
635,523 |
| Depreciation and amortization |
105,862 |
101,366 |
211,940 |
201,015 |
| General taxes |
56,894 |
57,806 |
117,661 |
117,952 |
| (Gain) loss on asset dispositions and purchases |
(345) |
(114) |
(615) |
(208) |
| Total operating expenses, net |
505,385 |
482,378 |
1,001,235 |
954,282 |
| Operating income |
253,774 |
241,887 |
439,870 |
406,120 |
| Other income (expenses) |
|
|
|
|
| Interest, net |
(73,668) |
(77,757) |
(147,228) |
(155,871) |
| Allowance for funds used during construction |
|
|
4,259 |
7,095 |
| Amortization of debt expense |
(1,629) |
(1,624) |
(3,302) |
(3,205) |
| Other, net |
(317) |
(256) |
(1,858) |
(1,032) |
| Total other income (expenses) |
(72,285) |
(74,168) |
(145,375) |
(149,590) |
| Income before income taxes |
181,489 |
167,719 |
294,495 |
256,530 |
| Provision for income taxes |
72,190 |
66,456 |
117,073 |
97,624 |
| Net income |
109,299 |
101,263 |
177,422 |
158,906 |
| Pension plan amortized to periodic benefit cost: |
|
|
|
|
| Prior service cost, net of tax of $26 and $27 for the three months and $53 and $55 for the six months, respectively |
42 |
44 |
83 |
87 |
| Actuarial loss, net of tax of $(5) and $1,425 for the three months and $(10) and $2,849 for the six months, respectively |
(8) |
2,227 |
(15) |
4,455 |
| Foreign currency translation adjustment |
446 |
(453) |
(104) |
(819) |
| Other comprehensive income (loss) |
480 |
1,818 |
(36) |
3,723 |
| Comprehensive income |
109,779 |
103,081 |
177,386 |
162,629 |
| Basic earnings per share |
$ 0.61 |
$ 0.57 |
$ 0.99 |
$ 0.89 |
| Diluted earnings per share |
$ 0.61 |
$ 0.57 |
$ 0.99 |
$ 0.89 |
| Average common shares outstanding during the period |
|
|
|
|
| Basic |
178,863 |
177,716 |
178,702 |
177,522 |
| Diluted |
179,693 |
178,910 |
179,512 |
178,716 |
| Dividends declared per common share |
$ 0.31 |
$ 0.28 |
$ 0.31 |
$ 0.28 |
|
Other Funds
|
|
|
|
|
| Other income (expenses) |
|
|
|
|
| Allowance for funds used during construction |
2,058 |
3,699 |
4,259 |
7,095 |
|
Borrowed Funds
|
|
|
|
|
| Other income (expenses) |
|
|
|
|
| Allowance for funds used during construction |
$ 1,271 |
$ 1,770 |
$ 2,754 |
$ 3,423 |