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v2.4.0.8

Consolidated Statements of Income (USD $) In Thousands, except Per Share data, unless otherwise specified | 3 Months Ended | 9 Months Ended
--- | --- | ---
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013
Revenues |  |  |  |
Total revenues | $ 867,096 | $ 829,168 | $ 2,449,502 | $ 2,405,967
Expenses |  |  |  |
Total expenses | 775,994 | 741,130 | 2,187,819 | 2,168,897
Operating income (loss) |  |  |  |
Total operating income | 91,102 | 88,038 | 261,683 | 237,070
Interest expense, net—other than on deposit liabilities and other bank borrowings | (19,170) | (19,043) | (58,648) | (56,216)
Allowance for borrowed funds used during construction | 740 | 498 | 1,877 | 1,626
Allowance for equity funds used during construction | 1,937 | 1,255 | 4,933 | 4,030
Income before income taxes | 74,609 | 70,748 | 209,845 | 186,510
Income taxes | 26,323 | 22,041 | 73,265 | 62,590
Net income | 48,286 | 48,707 | 136,580 | 123,920
Preferred stock dividends of subsidiaries | 471 | 471 | 1,417 | 1,417
Net income for common stock | 47,815 | 48,236 | 135,163 | 122,503
Basic earnings per common share (in dollars per share) | $ 0.47 | $ 0.49 | $ 1.33 | $ 1.24
Diluted earnings per common share (in dollars per share) | $ 0.46 | $ 0.48 | $ 1.32 | $ 1.23
Dividends per common share (in dollars per share) | $ 0.31 | $ 0.31 | $ 0.93 | $ 0.93
Weighted-average number of common shares outstanding (in shares) | 102,416 | 99,204 | 101,768 | 98,670
Net effect of potentially dilutive shares (in shares) | 610 | 614 | 710 | 620
Adjusted weighted-average shares (in shares) | 103,026 | 99,818 | 102,478 | 99,290
Electric utility |  |  |  |
Revenues |  |  |  |
Total revenues | 803,565 | 764,054 | 2,262,056 | 2,210,020
Expenses |  |  |  |
Total expenses | 727,409 | 694,201 | 2,045,166 | 2,030,071
Operating income (loss) |  |  |  |
Total operating income | 76,156 | 69,853 | 216,890 | 179,949
Income before income taxes | 62,419 | 56,573 | 174,711 | 141,645
Income taxes | 23,042 | 18,258 | 64,686 | 49,210
Net income | 39,377 | 38,315 | 110,025 | 92,435
Preferred stock dividends of subsidiaries | 498 | 498 | 1,496 | 1,496
Net income for common stock | 38,879 | 37,817 | 108,529 | 90,939
Bank |  |  |  |
Revenues |  |  |  |
Total revenues | 63,536 | 65,058 | 187,771 | 195,841
Expenses |  |  |  |
Total expenses | 43,964 | 42,223 | 129,528 | 126,550
Operating income (loss) |  |  |  |
Total operating income | 19,572 | 22,835 | 58,243 | 69,291
Income before income taxes | 19,572 | 22,808 | 58,244 | 69,265
Income taxes | 6,312 | 7,532 | 18,769 | 23,915
Net income | 13,260 | 15,276 | 39,475 | 45,350
Net income for common stock | 13,260 | 15,276 | 39,475 | 45,350
Other |  |  |  |
Revenues |  |  |  |
Total revenues | (5) | 56 | (325) | 106
Expenses |  |  |  |
Total expenses | 4,621 | 4,706 | 13,125 | 12,276
Operating income (loss) |  |  |  |
Total operating income | (4,626) | (4,650) | (13,450) | (12,170)
Income before income taxes | (7,382) | (8,633) | (23,110) | (24,400)
Income taxes | (3,031) | (3,749) | (10,190) | (10,535)
Net income | (4,351) | (4,884) | (12,920) | (13,865)
Preferred stock dividends of subsidiaries | (27) | (27) | (79) | (79)
Net income for common stock | $ (4,324) | $ (4,857) | $ (12,841) | $ (13,786)

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