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Capitalization (Tables)
 12 Months Ended
Dec. 31, 2018
CAPITALIZATION:  
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

2019 $ 7.3
2020 $ 7.2
2021 $ 7.2
2022 $ 6.7
2023 $ 6.2
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, 2018. 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)
   2018  2017  2016
Basic:  Income  Shares  Income  Shares  Income  Shares
Net Income  $32,452    16,384   $22,809    16,330   $22,742    16,270 
Preferred Dividend   (144)        (144)        (144)     
Earnings Applicable to Common Stock  $32,308    16,384   $22,665    16,330   $22,598    16,270 
Basic EPS  $1.97        $1.39        $1.39      
Diluted:                              
Earnings Applicable to Common Stock  $32,308    16,384   $22,665    16,330   $22,598    16,270 
$7.00 Series Dividend   67    115    67    115    67    115 
$8.00 Series Dividend   24    41    24    41    24    41 
Adjusted Earnings Applicable to Common Stock  $32,399    16,540   $22,756    16,486   $22,689    16,426 
Diluted EPS  $1.96        $1.38        $1.38      

 
Schedule of carrying amount and estimated fair value of bonds

The carrying amount and fair value of the Bonds were as follows:

 

 

  

(Thousands of Dollars)

At December 31,

   2018  2017
   Carrying  Fair  Carrying  Fair
   Amount  Value  Amount  Value
Bonds  $101,411   $102,789   $95,322   $98,036