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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Revenues      
Revenues $ 16,540,309 $ 8,542,242 $ 10,164,367
Cost of sales and fuel (exclusive of items shown separately below) 12,256,655 5,110,146 6,788,040
Operations and maintenance 900,420 761,176 863,708
Depreciation and amortization 621,701 578,662 476,535
Impairment charges (Note D and E) 0 607,200 0
General taxes 166,668 125,028 119,156
(Gain) loss on sale of assets (1,394) (1,327) 2,575
Operating income 2,596,259 1,361,357 1,914,353
Equity in net earnings from investments (Note M) 122,520 143,241 154,541
Impairment of equity investments (Note M) 0 (37,730) 0
Allowance for equity funds used during construction 1,682 23,662 64,815
Other income (expense) (3,333) 24,672 9,055
Interest expense (net of capitalized interest of $25,150, $75,436 and $107,275, respectively) (732,924) (712,886) (491,773)
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total 1,984,204 802,316 1,650,991
Income taxes (Note L) (484,498) (189,507) (372,414)
Net income 1,499,706 612,809 1,278,577
Less: Preferred stock dividends 1,100 1,100 1,100
Net income available to common shareholders $ 1,498,606 $ 611,709 $ 1,277,477
Basic earnings per common share (Note I) $ 3.36 $ 1.42 $ 3.09
Diluted earnings per common share (Note I) $ 3.35 $ 1.42 $ 3.07
Average shares (thousands)      
Basic 446,403 431,105 413,560
Diluted 447,403 431,782 415,444
Commodity Sales      
Revenues      
Revenues $ 15,180,264 $ 7,255,259 $ 8,916,047
Services      
Revenues      
Revenues $ 1,360,045 $ 1,286,983 $ 1,248,320