Income Statement

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  Year Ending Dec 2023 (Update) Year Ending Dec 2022 (Update) Year Ending Dec 2021 (Update) Year Ending Dec 2020 (Update)
Electric Operations 1,746.10 1,742.88 1,445.00 1,324.09
Revenue 1,746.10 1,742.88 1,445.00 1,324.09
Other Non-Utility Revenue 5.46 -32.67 -6.06 -2.20
Other Revenue, Total 5.46 -32.67 -6.06 -2.20
Total Revenue 1,751.55 1,710.21 1,438.94 1,321.89
Fuel Expense 702.37 735.86 497.12 398.51
Operations & Maintenance 383.88 405.17 366.13 354.61
Selling/General/Administrative Expense 29.72 6.55 6.15 5.85
Selling/General/Administrative Expenses, Total 29.72 6.55 6.15 5.85
Depreciation 265.33 253.14 232.18 224.22
Depreciation/Amortization 265.33 253.14 232.18 224.22
Other Unusual Expense (Income) -- -- 0.00 0.00
Unusual Expense (Income) -- -- 0.00 0.00
Property & Other Taxes 109.72 114.19 109.35 106.50
Other Operating Expense 2.84 5.05 -0.22 -0.50
Other Operating Expenses, Total 112.56 119.24 109.13 106.00
Total Operating Expense 1,493.86 1,519.97 1,210.70 1,089.19
Operating Income 257.69 190.24 228.23 232.70
Interest Expense - Non-Operating -143.30 -118.69 -106.15 -105.06
Interest Capitalized - Non-Operating 3.63 3.72 3.99 4.08
Interest Expense, Net Non-Operating -139.67 -114.97 -102.17 -100.98
Interest Income, Non-Operating 14.66 -- -- --
Investment Income, Non-Operating -3.23 -- -- --
Interest/Investment Income, Non-Operating 11.44 -- -- --
Interest Income (Expense), Net-Non-Operating, Total -128.23 -114.97 -102.17 -100.98
Allowance for Funds Used During Construction 6.89 -- -- --
Other Non-Operating Income (Expense) 1.21 62.72 33.30 4.82
Other, Net 1.21 62.72 33.30 4.82
Net Income Before Taxes 137.55 137.99 159.37 136.54
Income Tax – Total -33.63 -17.19 12.03 7.05
Income After Tax 171.18 155.18 147.33 129.49
Minority Interest -- -- 0.00 0.00
Net Income Before Extraordinary Items 171.18 155.18 147.33 129.49
Discontinued Operations -- -- -- --
Extraordinary Item -- -- -- --
Total Extraordinary Items -- -- -- --
Net Income 171.18 155.18 147.33 129.49
Income Available to Common Excluding Extraordinary Items 171.18 155.18 147.33 129.49
Income Available to Common Stocks Including Extraordinary Items 171.18 155.18 147.33 129.49
Basic Weighted Average Shares 76.40 72.99 69.95 67.96
Basic EPS Excluding Extraordinary Items 2.24 2.13 2.11 1.91
Basic EPS Including Extraordinary Items 2.24 2.13 2.11 1.91
Dilution Adjustment -- -- -- --
Diluted Net Income 171.18 155.18 147.33 129.49
Diluted Weighted Average Shares 76.50 73.09 70.09 68.10
Diluted EPS Excluding Extraordinary Items 2.24 2.12 2.10 1.90
Diluted EPS Including Extraordinary Items 2.24 2.12 2.10 1.90
DPS - Common Stock Primary Issue 1.84 1.76 1.69 1.62
Gross Dividends - Common Stock 141.37 129.27 119.74 110.25
Total Special Items -- -- 0.00 0.00
Normalized Income Before Taxes 137.55 137.99 159.37 136.54
Effect of Special Items on Income Taxes -- -- 0.00 0.00
Income Taxes Excluding Impact of Special Items -33.63 -17.19 12.03 7.05
Normalized Income After Taxes 171.18 155.18 147.33 129.49
Normalized Income Available to Common 171.18 155.18 147.33 129.49
Basic Normalized EPS 2.24 2.13 2.11 1.91
Diluted Normalized EPS 2.24 2.12 2.10 1.90
Amortization of Intangibles, Supplemental -- -- -- --
Depreciation, Supplemental 265.41 253.14 232.18 224.22
Interest Expense, Supplemental 143.30 118.69 106.15 105.06
Interest Capitalized, Supplemental -3.63 -3.72 -3.99 -4.08
Rental Expense, Supplemental 5.10 4.99 4.97 4.75
Stock-Based Compensation, Supplemental 8.44 8.72 4.71 5.85
Minority Interest, Supplemental -- -- 0.00 0.00
Audit-Related Fees, Supplemental -- 1.92 1.78 1.74
Audit-Related Fees -- 0.01 0.00 0.00
Tax Fees, Supplemental -- 0.00 0.01 0.31
All Other Fees Paid to Auditor, Supplemental -- 0.01 0.01 0.01
Operating Margin 14.71 11.12 15.86 17.60
Pretax Margin 7.85 8.07 11.08 10.33
Effective Tax Rate -24.45 -12.46 7.55 5.16
Net Profit Margin 9.77 9.07 10.24 9.80
Normalized EBIT 257.69 190.24 228.23 232.70
Normalized EBITDA 523.10 443.38 460.41 456.92
Current Tax - Total 3.21 1.04 0.81 -37.91
Current Tax - Total 3.21 1.04 0.81 -37.91
Deferred Tax - Domestic -- -- -- --
Deferred Tax - Total -36.84 -18.23 11.22 44.96
Deferred Tax - Total -36.84 -18.23 11.22 44.96
Income Tax - Total -33.63 -17.19 12.03 7.05
Interest Cost - Domestic 33.25 26.54 26.16 27.85
Service Cost - Domestic 14.35 23.88 25.31 22.39
Prior Service Cost - Domestic 0.49 0.26 0.26 0.26
Expected Return on Assets - Domestic -43.66 -43.87 -39.09 -34.89
Actuarial Gains and Losses - Domestic 4.92 4.18 6.65 6.72
Curtailments & Settlements - Domestic 0.00 11.83 -- --
Domestic Pension Plan Expense 9.35 22.81 19.28 22.33
Interest Cost - Post-Retirement 6.77 5.50 5.14 6.04
Service Cost - Post-Retirement 2.39 4.37 4.11 3.90
Prior Service Cost - Post-Retirement -1.05 -1.05 -0.92 -0.96
Expected Return on Assets - Post-Retirement -3.56 -2.80 -2.40 -2.38
Actuarial Gains and Losses - Post-Retirement 0.32 3.34 3.87 4.87
Post-Retirement Plan Expense 4.87 9.37 9.80 11.48
Defined Contribution Expense - Domestic 15.02 13.26 11.67 11.74
Total Pension Expense 29.23 45.43 40.75 45.56
Discount Rate - Domestic 6.10 3.39 3.25 3.85
Discount Rate - Post-Retirement 6.10 3.40 3.27 3.89
Expected Rate of Return - Domestic 8.30 5.80 5.40 5.50
Expected Rate of Return - Post-Retirement 7.20 4.70 4.60 5.30
Compensation Rate - Domestic 4.87 4.69 4.66 4.74
Total Plan Interest Cost 40.01 32.04 31.30 33.90
Total Plan Service Cost 16.74 28.25 29.42 26.29
Total Plan Expected Return -47.22 -46.67 -41.49 -37.26

In millions of USD (except for per share items)

Source: LSEG

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