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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Revenues      
Revenues $ 22,386,892 $ 16,540,309 $ 8,542,242
Cost of sales and fuel (exclusive of items shown separately below) 17,909,866 12,256,655 5,110,146
Operations and maintenance 958,246 900,420 761,176
Depreciation and amortization 626,132 621,701 578,662
Impairment charges (Notes E and F) 0 0 607,200
General taxes 191,458 166,668 125,028
Other Operating Income (Expense), Net 106,229 1,394 1,327
Operating income 2,807,419 2,596,259 1,361,357
Equity in net earnings from investments (Note N) 147,720 122,520 143,241
Impairment of equity investments (Note N) 0 0 (37,730)
Allowance for equity funds used during construction 2,551 1,682 23,662
Other (32,099) (3,333) 24,672
Interest expense (net of capitalized interest of $57,426, $25,150 and $75,436, respectively) (675,946) (732,924) (712,886)
Income before income taxes 2,249,645 1,984,204 802,316
Income taxes (Note M) (527,424) (484,498) (189,507)
Net income 1,722,221 1,499,706 612,809
Less: Preferred stock dividends 1,100 1,100 1,100
Net income available to common shareholders $ 1,721,121 $ 1,498,606 $ 611,709
Basic earnings per common share (Note J) $ 3.85 $ 3.36 $ 1.42
Diluted earnings per common share (Note J) $ 3.84 $ 3.35 $ 1.42
Average shares (thousands)      
Basic 447,507 446,403 431,105
Diluted 448,447 447,403 431,782
Commodity Sales      
Revenues      
Revenues $ 20,975,462 $ 15,180,264 $ 7,255,259
Services      
Revenues      
Revenues $ 1,411,430 $ 1,360,045 $ 1,286,983