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v3.4.0.3

Consolidated Statements of Income (unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended
--- | ---
Mar. 31, 2016 | Mar. 31, 2015
Revenues |  |
Total revenues | $ 550,960 | $ 637,862
Expenses |  |
Total expenses | 482,109 | 568,356
Operating income (loss) |  |
Total operating income | 68,851 | 69,506
Interest expense, net—other than on deposit liabilities and other bank borrowings | (20,126) | (19,100)
Allowance for borrowed funds used during construction | 662 | 499
Allowance for equity funds used during construction | 1,739 | 1,413
Income before income taxes | 51,126 | 52,318
Income taxes | 18,301 | 19,979
Net income | 32,825 | 32,339
Preferred stock dividends of subsidiaries | 473 | 473
Net income for common stock | $ 32,352 | $ 31,866
Basic earnings per common share (in dollars per share) | $ 0.30 | $ 0.31
Diluted earnings per common share (in dollars per share) | 0.30 | 0.31
Dividends per common share (in dollars per share) | $ 0.31 | $ 0.31
Weighted-average number of common shares outstanding (in shares) | 107,620 | 103,281
Net effect of potentially dilutive shares (in shares) | 161 | 286
Adjusted weighted-average shares (in shares) | 107,781 | 103,567
Electric utility |  |
Revenues |  |
Total revenues | $ 482,052 | $ 573,442
Expenses |  |
Total expenses | 426,726 | 515,806
Operating income (loss) |  |
Total operating income | 55,326 | 57,636
Income before income taxes | 40,419 | 43,223
Income taxes | 14,553 | 15,850
Net income | 25,866 | 27,373
Preferred stock dividends of subsidiaries | 499 | 499
Net income for common stock | 25,367 | 26,874
Bank |  |
Revenues |  |
Total revenues | 68,840 | 64,348
Expenses |  |
Total expenses | 49,246 | 43,717
Operating income (loss) |  |
Total operating income | 19,594 | 20,631
Income before income taxes | 19,594 | 20,631
Income taxes | 6,921 | 7,156
Net income | 12,673 | 13,475
Net income for common stock | 12,673 | 13,475
Other |  |
Revenues |  |
Total revenues | 68 | 72
Expenses |  |
Total expenses | 6,137 | 8,833
Operating income (loss) |  |
Total operating income | (6,069) | (8,761)
Income before income taxes | (8,887) | (11,536)
Income taxes | (3,173) | (3,027)
Net income | (5,714) | (8,509)
Preferred stock dividends of subsidiaries | (26) | (26)
Net income for common stock | $ (5,688) | $ (8,483)

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