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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Operating Revenues:        
Total Operating Revenues $ 235,755 $ 228,652 $ 663,258 $ 703,827
Operating Expenses        
Production Fuel – Electric 11,554 18,331 34,077 45,547
Electric Operation and Maintenance Expenses 32,845 35,869 106,639 114,107
Cost of Products Sold (depreciation included below) 86,856 88,747 246,567 277,325
Other Nonelectric Expenses 13,615 11,665 36,277 38,404
Depreciation and Amortization 20,395 19,657 61,230 58,229
Property Taxes – Electric 4,333 3,965 12,601 11,824
Total Operating Expenses 183,026 191,397 543,331 600,184
Operating Income 52,729 37,255 119,927 103,643
Interest Charges 8,568 7,539 25,353 23,190
Nonservice Cost Components of Postretirement Benefits 842 1,055 2,581 3,165
Other Income 1,712 1,020 3,733 3,114
Income Before Income Taxes 45,031 29,681 95,726 80,402
Income Tax Expense 9,097 4,936 18,543 13,907
Net Income $ 35,934 $ 24,745 $ 77,183 $ 66,495
Average Number of Common Shares Outstanding – Basic (in shares) 40,913,972 39,714,672 40,548,133 39,694,677
Average Number of Common Shares Outstanding – Diluted (in shares) 41,077,689 39,946,739 40,732,928 39,922,580
Basic Earnings Per Common Share (in dollars per share) $ 0.88 $ 0.62 $ 1.90 $ 1.68
Diluted Earnings Per Common Share (in dollars per share) $ 0.87 $ 0.62 $ 1.89 $ 1.67
Electricity [Member]        
Operating Revenues:        
Revenues from Contracts with Customers $ 112,435 $ 115,285 $ 330,313 $ 346,291
Changes in Accrued Revenues under Alternative Revenue Programs 2,778 (921) 2,900 (1,601)
Total Electric Revenues 115,213 114,364 333,213 344,690
Product [Member]        
Operating Revenues:        
Revenues from Contracts with Customers 120,542 114,288 330,045 359,137
Electricity, Purchased [Member]        
Operating Expenses        
Purchased Power – Electric System Use $ 13,428 $ 13,163 $ 45,940 $ 54,748