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v3.3.0.814

Consolidated Statements of Income (unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended
--- | --- | ---
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014
Revenues |  |  |  |
Total revenues | $ 717,176 | $ 867,096 | $ 1,978,950 | $ 2,449,502
Expenses |  |  |  |
Total expenses | 620,081 | 775,060 | 1,739,619 | 2,185,069
Operating income (loss) |  |  |  |
Total operating income | 97,095 | 92,036 | 239,331 | 264,433
Interest expense, net—other than on deposit liabilities and other bank borrowings | (19,229) | (19,170) | (57,235) | (58,648)
Allowance for borrowed funds used during construction | 737 | 740 | 1,918 | 1,877
Allowance for equity funds used during construction | 2,057 | 1,937 | 5,366 | 4,933
Income before income taxes | 80,660 | 75,543 | 189,380 | 212,595
Income taxes | 29,516 | 27,264 | 70,406 | 76,302
Net income | 51,144 | 48,279 | 118,974 | 136,293
Preferred stock dividends of subsidiaries | 471 | 471 | 1,417 | 1,417
Net income for common stock | $ 50,673 | $ 47,808 | $ 117,557 | $ 134,876
Basic earnings per common share (in dollars per share) | $ 0.47 | $ 0.47 | $ 1.11 | $ 1.33
Diluted earnings per common share (in dollars per share) | 0.47 | 0.46 | 1.11 | 1.32
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) | 107,457 | 102,416 | 106,067 | 101,768
Net effect of potentially dilutive shares (in shares) | 281 | 610 | 280 | 710
Adjusted weighted-average shares (in shares) | 107,738 | 103,026 | 106,347 | 102,478
Electric utility |  |  |  |
Revenues |  |  |  |
Total revenues | $ 648,127 | $ 803,565 | $ 1,779,732 | $ 2,262,056
Expenses |  |  |  |
Total expenses | 565,470 | 727,409 | 1,573,278 | 2,045,166
Operating income (loss) |  |  |  |
Total operating income | 82,657 | 76,156 | 206,454 | 216,890
Income before income taxes | 68,894 | 62,419 | 164,568 | 174,711
Income taxes | 25,390 | 23,042 | 60,351 | 64,686
Net income | 43,504 | 39,377 | 104,217 | 110,025
Preferred stock dividends of subsidiaries | 498 | 498 | 1,496 | 1,496
Net income for common stock | 43,006 | 38,879 | 102,721 | 108,529
Bank |  |  |  |
Revenues |  |  |  |
Total revenues | 69,091 | 63,536 | 199,222 | 187,771
Expenses |  |  |  |
Total expenses | 48,289 | 43,030 | 138,063 | 126,778
Operating income (loss) |  |  |  |
Total operating income | 20,802 | 20,506 | 61,159 | 60,993
Income before income taxes | 20,802 | 20,506 | 61,159 | 60,994
Income taxes | 7,351 | 7,253 | 21,382 | 21,806
Net income | 13,451 | 13,253 | 39,777 | 39,188
Net income for common stock | 13,451 | 13,253 | 39,777 | 39,188
Other |  |  |  |
Revenues |  |  |  |
Total revenues | (42) | (5) | (4) | (325)
Expenses |  |  |  |
Total expenses | 6,322 | 4,621 | 28,278 | 13,125
Operating income (loss) |  |  |  |
Total operating income | (6,364) | (4,626) | (28,282) | (13,450)
Income before income taxes | (9,036) | (7,382) | (36,347) | (23,110)
Income taxes | (3,225) | (3,031) | (11,327) | (10,190)
Net income | (5,811) | (4,351) | (25,020) | (12,920)
Preferred stock dividends of subsidiaries | (27) | (27) | (79) | (79)
Net income for common stock | $ (5,784) | $ (4,324) | $ (24,941) | $ (12,841)

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