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Capitalization (Tables)
 12 Months Ended
Dec. 31, 2013
Capitalization Tables  
Schedule of maturities of long term debt

The aggregate annual principal repayment obligations for all long-term debt over the next five years are shown below:

 

Year

(Millions of Dollars)

Annual Maturities

2014 $ 5.4
2015 $ 5.5
2016 $ 5.6
2017 $ 5.7
2018 $ 5.8
Schedule of earnings per share

The following table presents the calculation of basic and diluted earnings per share (EPS) for the three years ended December 31, 2013. Basic EPS is computed on the basis of the weighted average number of shares outstanding. Diluted EPS assumes the conversion of both the Convertible Preferred Stock $7.00 Series and $8.00 Series.

 

   (In Thousands, Except per Share Amounts)
   2013  2012  2011
Basic:  Income  Shares  Income  Shares  Income  Shares
Net Income  $16,633    15,868   $14,396    15,733   $13,447    15,615 
Preferred Dividend   (190)        (206)        (206)     
Earnings Applicable to Common Stock  $16,443    15,868   $14,190    15,733   $13,241    15,615 
Basic EPS  $1.04        $0.90        $0.85      
Diluted:                              
Earnings Applicable to Common Stock  $16,443    15,868   $14,190    15,733   $13,241    15,615 
$7.00 Series Dividend   97    166    97    166    97    166 
$8.00 Series Dividend   40    76    56    96    56    96 
Adjusted Earnings Applicable to Common Stock  $16,580    16,110   $14,343    15,995   $13,394    15,877 
Diluted EPS  $1.03        $0.90        $0.84      

 
Schedule of carrying amount and estimated fair value of bonds

The carrying amount and fair value of the Company’s bonds were as follows:

 

    (Thousands of Dollars)
    At December 31,
    2013   2012
    Carrying   Fair   Carrying   Fair
    Amount   Value   Amount   Value
Bonds   $ 87,471     $ 79,733     $ 91,938     $ 93,556  
State Revolving Notes   $ 625     $ 628     $ 708     $ 712