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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Revenues        
Revenues $ 5,913,531 $ 4,536,175 $ 17,354,861 $ 11,119,818
Cost of sales and fuel (exclusive of items shown separately below) 4,772,674 3,449,127 14,016,621 7,937,616
Operations and maintenance 238,414 225,364 683,507 644,841
Depreciation and amortization 157,102 154,542 468,717 468,583
General taxes 47,770 39,753 144,058 126,132
Other operating income (expense), net 1,630 470 8,649 1,446
Operating income 699,201 667,859 2,050,607 1,944,092
Equity in net earnings from investments (Note H) 39,180 28,573 111,150 87,613
Allowance for equity funds used during construction 734 247 1,699 1,485
Other income (expense), net (8,296) 1,287 (31,142) (4,228)
Interest expense (net of capitalized interest of $16,288, $6,083, $41,527 and $16,621, respectively) (166,939) (184,049) (509,744) (554,529)
Income before income taxes 563,880 513,917 1,622,570 1,474,433
Income taxes (132,129) (121,899) (385,270) (354,100)
Net income 431,751 392,018 1,237,300 1,120,333
Less: Preferred stock dividends 275 275 825 825
Net income available to common shareholders $ 431,476 $ 391,743 $ 1,236,475 $ 1,119,508
Basic earnings per common share (Note G) $ 0.96 $ 0.88 $ 2.76 $ 2.51
Diluted earnings per common share (Note G) $ 0.96 $ 0.88 $ 2.76 $ 2.50
Average shares (thousands)        
Basic 447,677 446,634 447,417 446,288
Diluted 448,217 447,635 448,268 447,117
Commodity Sales        
Revenues        
Revenues $ 5,563,535 $ 4,204,792 $ 16,319,549 $ 10,115,674
Services        
Revenues        
Revenues $ 349,996 $ 331,383 $ 1,035,312 $ 1,004,144