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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Revenues        
Revenues $ 4,536,175 $ 2,174,264 $ 11,119,818 $ 5,971,665
Cost of sales and fuel (exclusive of items shown separately below) 3,449,127 1,265,674 7,937,616 3,483,060
Operations and maintenance 225,364 173,548 644,841 538,782
Depreciation and amortization 154,542 153,245 468,583 426,014
Impairment charges 0 0 0 604,024
General taxes 39,753 31,381 126,132 97,651
Gain on sale of assets (470) (17) (1,446) (560)
Operating income 667,859 550,433 1,944,092 822,694
Equity in net earnings from investments (Note I) 28,573 38,046 87,613 108,001
Impairment of equity investments 0 0 0 (37,730)
Allowance for equity funds used during construction 247 3,084 1,485 22,347
Other income 6,662 8,175 13,882 42,343
Other expense (5,375) (4,496) (18,110) (22,620)
Interest expense (net of capitalized interest of $6,083, $13,821, $16,621 and $61,439, respectively) (184,049) (176,371) (554,529) (535,955)
Income before income taxes 513,917 418,871 1,474,433 399,080
Income taxes (121,899) (106,555) (354,100) (94,300)
Net income 392,018 312,316 1,120,333 304,780
Less: Preferred stock dividends 275 275 825 825
Net income available to common shareholders $ 391,743 $ 312,041 $ 1,119,508 $ 303,955
Basic earnings per common share (Note G) $ 0.88 $ 0.70 $ 2.51 $ 0.71
Diluted earnings per common share (Note G) $ 0.88 $ 0.70 $ 2.50 $ 0.71
Average shares (thousands)        
Basic 446,634 445,103 446,288 426,369
Diluted 447,635 445,510 447,117 426,997
Commodity Sales        
Revenues        
Revenues $ 4,204,792 $ 1,852,198 $ 10,115,674 $ 5,004,375
Services        
Revenues        
Revenues $ 331,383 $ 322,066 $ 1,004,144 $ 967,290