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v3.3.0.814

Consolidated Statements of Income (unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014
Revenues |  |  |  |  |  |
Total revenues | $ 623,912 | $ 798,657 | $ 1,261,774 |  | $ 1,582,406 |
Expenses |  |  |  |  |  |
Total expenses | 551,182 | 715,474 | 1,119,538 |  | 1,410,009 |
Operating income (loss) |  |  |  |  |  |
Total operating income | 72,730 | 83,183 | 142,236 |  | 172,397 |
Interest expense, net—other than on deposit liabilities and other bank borrowings | (18,906) | (20,022) | (38,006) |  | (39,478) |
Allowance for borrowed funds used during construction | 682 | 523 | 1,181 |  | 1,137 |
Allowance for equity funds used during construction | 1,896 | 1,387 | 3,309 | [1] | 2,996 | [1]
Income before income taxes | 56,402 | 65,071 | 108,720 |  | 137,052 |
Income taxes | 20,911 | 23,317 | 40,890 |  | 49,038 |
Net income | 35,491 | 41,754 | 67,830 | [1] | 88,014 | [1]
Preferred stock dividends of subsidiaries | 473 | 473 | 946 |  | 946 |
Net income for common stock | $ 35,018 | $ 41,281 | $ 66,884 |  | $ 87,068 |
Basic earnings per common share (in dollars per share) | $ 0.33 | $ 0.41 | $ 0.63 |  | $ 0.86 |
Diluted earnings per common share (in dollars per share) | 0.33 | 0.41 | 0.63 |  | 0.85 |
Dividends per common share (in dollars per share) | $ 0.31 | $ 0.31 | $ 0.62 |  | $ 0.62 |
Weighted-average number of common shares outstanding (in shares) | 107,418 | 101,495 | 105,361 |  | 101,439 |
Net effect of potentially dilutive shares (in shares) | 276 | 330 | 298 |  | 606 |
Adjusted weighted-average shares (in shares) | 107,694 | 101,825 | 105,659 |  | 102,045 |
Electric utility |  |  |  |  |  |
Revenues |  |  |  |  |  |
Total revenues | $ 558,163 | $ 738,429 | $ 1,131,605 |  | $ 1,458,491 |
Expenses |  |  |  |  |  |
Total expenses | 492,002 | 668,361 | 1,007,808 |  | 1,317,757 |
Operating income (loss) |  |  |  |  |  |
Total operating income | 66,161 | 70,068 | 123,797 |  | 140,734 |
Income before income taxes | 52,451 | 55,126 | 95,674 |  | 112,292 |
Income taxes | 19,111 | 20,397 | 34,961 |  | 41,644 |
Net income | 33,340 | 34,729 | 60,713 |  | 70,648 |
Preferred stock dividends of subsidiaries | 499 | 499 | 998 |  | 998 |
Net income for common stock | 32,841 | 34,230 | 59,715 |  | 69,650 |
Bank |  |  |  |  |  |
Revenues |  |  |  |  |  |
Total revenues | 65,783 | 60,616 | 130,131 |  | 124,235 |
Expenses |  |  |  |  |  |
Total expenses | 46,057 | 42,660 | 89,774 |  | 83,748 |
Operating income (loss) |  |  |  |  |  |
Total operating income | 19,726 | 17,956 | 40,357 |  | 40,487 |
Income before income taxes | 19,726 | 17,956 | 40,357 |  | 40,488 |
Income taxes | 6,875 | 6,420 | 14,031 |  | 14,553 |
Net income | 12,851 | 11,536 | 26,326 |  | 25,935 |
Net income for common stock | 12,851 | 11,536 | 26,326 |  | 25,935 |
Other |  |  |  |  |  |
Revenues |  |  |  |  |  |
Total revenues | (34) | (388) | 38 |  | (320) |
Expenses |  |  |  |  |  |
Total expenses | 13,123 | 4,453 | 21,956 |  | 8,504 |
Operating income (loss) |  |  |  |  |  |
Total operating income | (13,157) | (4,841) | (21,918) |  | (8,824) |
Income before income taxes | (15,775) | (8,011) | (27,311) |  | (15,728) |
Income taxes | (5,075) | (3,500) | (8,102) |  | (7,159) |
Net income | (10,700) | (4,511) | (19,209) |  | (8,569) |
Preferred stock dividends of subsidiaries | (26) | (26) | (52) |  | (52) |
Net income for common stock | $ (10,674) | $ (4,485) | $ (19,157) |  | $ (8,517) |
[1] | As restated - See Note 1, “Basis of presentation - Restatement of previously issued financial statements.”

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