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Consolidated Statements of Income (unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Revenues        
Total revenues $ 566,244 $ 623,912 $ 1,117,204 $ 1,261,774
Expenses        
Total expenses 480,789 551,182 962,898 1,119,538
Operating income (loss)        
Total operating income 85,455 72,730 154,306 142,236
Interest expense, net—other than on deposit liabilities and other bank borrowings (17,301) (18,906) (37,427) (38,006)
Allowance for borrowed funds used during construction 760 682 1,422 1,181
Allowance for equity funds used during construction 1,997 1,896 3,736 3,309
Income before income taxes 70,911 56,402 122,037 108,720
Income taxes 26,310 20,911 44,611 40,890
Net income 44,601 35,491 77,426 67,830
Preferred stock dividends of subsidiaries 473 473 946 946
Net income for common stock $ 44,128 $ 35,018 $ 76,480 $ 66,884
Basic earnings per common share (in dollars per share) $ 0.41 $ 0.33 $ 0.71 $ 0.63
Diluted earnings per common share (in dollars per share) 0.41 0.33 0.71 0.63
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) 107,962 107,418 107,791 105,361
Net effect of potentially dilutive shares (in shares) 171 276 187 298
Adjusted weighted-average shares (in shares) 108,133 107,694 107,978 105,659
Electric utility        
Revenues        
Total revenues $ 495,395 $ 558,163 $ 977,447 $ 1,131,605
Expenses        
Total expenses 424,709 492,002 851,435 1,007,808
Operating income (loss)        
Total operating income 70,686 66,161 126,012 123,797
Income before income taxes 58,340 52,451 98,759 95,674
Income taxes 21,984 19,111 36,537 34,961
Net income 36,356 33,340 62,222 60,713
Preferred stock dividends of subsidiaries 499 499 998 998
Net income for common stock 35,857 32,841 61,224 59,715
Bank        
Revenues        
Total revenues 70,749 65,783 139,589 130,131
Expenses        
Total expenses 50,525 46,057 99,771 89,774
Operating income (loss)        
Total operating income 20,224 19,726 39,818 40,357
Income before income taxes 20,224 19,726 39,818 40,357
Income taxes 6,939 6,875 13,860 14,031
Net income 13,285 12,851 25,958 26,326
Preferred stock dividends of subsidiaries 0 0 0 0
Net income for common stock 13,285 12,851 25,958 26,326
Other        
Revenues        
Total revenues 100 (34) 168 38
Expenses        
Total expenses 5,555 13,123 11,692 21,956
Operating income (loss)        
Total operating income (5,455) (13,157) (11,524) (21,918)
Income before income taxes (7,653) (15,775) (16,540) (27,311)
Income taxes (2,613) (5,075) (5,786) (8,102)
Net income (5,040) (10,700) (10,754) (19,209)
Preferred stock dividends of subsidiaries (26) (26) (52) (52)
Net income for common stock $ (5,014) $ (10,674) $ (10,702) $ (19,157)