Annual Income Statement

  Year Ending Dec 2019 (Update) Year Ending Dec 2018 (Update) Year Ending Dec 2017 (Reclassified) Year Ending Dec 2016 (Reclassified) Year Ending Dec 2015 (Update)
Electric Operations 39.55 34.35 33.97 35.77 36.04
Water Operations 319.83 295.26 306.33 302.93 328.51
Revenue 359.38 329.61 340.30 338.70 364.55
Other Non-Utility Revenue 114.49 107.21 100.30 97.39 94.09
Other Revenue, Total 114.49 107.21 100.30 97.39 94.09
Total Revenue 473.87 436.82 440.60 436.09 458.64
Purchased Power 20.46 20.56 19.24 19.05 19.38
Cost of Revenue 72.29 68.90 68.30 64.44 62.73
Cost of Revenue, Total 92.75 89.47 87.54 83.49 82.11
Operations & Maintenance 115.83 105.03 95.71 101.23 119.56
Selling/General/Administrative Expense 83.03 82.60 81.64 81.52 79.82
Selling/General/Administrative Expenses, Total 83.03 82.60 81.64 81.52 79.82
Depreciation 35.40 40.43 39.03 38.85 42.03
Depreciation/Amortization 35.40 40.43 39.03 38.85 42.03
Other Unusual Expense (Income) -0.25 -0.09 -8.32 0.00 --
Unusual Expense (Income) -0.25 -0.09 -8.32 0.00 --
Property & Other Taxes 20.04 18.40 17.91 16.80 16.64
Other Operating Expenses, Total 20.04 18.40 17.91 16.80 16.64
Total Operating Expense 346.80 335.83 313.51 321.90 340.15
Operating Income 127.07 100.98 127.10 114.19 118.49
Interest Expense - Non-Operating -24.59 -23.43 -22.58 -21.99 -21.09
Interest Expense, Net Non-Operating -24.59 -23.43 -22.58 -21.99 -21.09
Interest Income, Non-Operating 3.25 3.58 1.79 0.76 0.46
Interest/Investment Income, Non-Operating 3.25 3.58 1.79 0.76 0.46
Interest Income (Expense), Net-Non-Operating, Total -21.34 -19.86 -20.79 -21.24 -20.63
Other Non-Operating Income (Expense) 3.28 0.76 2.04 1.52 0.36
Other, Net 3.28 0.76 2.04 1.52 0.36
Net Income Before Taxes 109.01 81.89 108.34 94.48 98.22
Income Tax – Total 24.67 18.03 39.06 34.74 37.73
Income After Tax 84.34 63.86 69.29 59.74 60.48
Net Income Before Extraordinary Items 84.34 63.86 69.29 59.74 60.48
Discontinued Operations -- -- -- -- --
Extraordinary Item -- 0.01 0.08 -- --
Total Extraordinary Items -- 0.01 0.08 -- --
Net Income 84.34 63.87 69.37 59.74 60.48
Miscellaneous Earnings Adjustment -0.36 -0.33 -0.37 -0.33 -0.38
Total Adjustments to Net Income -0.36 -0.33 -0.37 -0.33 -0.38
Income Available to Common Excluding Extraordinary Items 83.99 63.52 68.91 59.41 60.10
Income Available to Common Stocks Including Extraordinary Items 83.99 63.54 68.99 59.41 60.10
Basic Weighted Average Shares 36.81 36.73 36.64 36.55 37.61
Basic EPS Excluding Extraordinary Items 2.28 1.73 1.88 1.63 1.60
Basic EPS Including Extraordinary Items 2.28 1.73 1.88 1.63 1.60
Dilution Adjustment 0.29 -- -- -- --
Diluted Net Income 84.28 63.54 68.99 59.41 60.10
Diluted Weighted Average Shares 36.96 36.94 36.84 36.75 37.61
Diluted EPS Excluding Extraordinary Items 2.28 1.72 1.87 1.62 1.60
Diluted EPS Including Extraordinary Items 2.28 1.72 1.87 1.62 1.60
DPS - Common Stock Primary Issue 1.16 1.06 0.99 0.91 0.87
Gross Dividends - Common Stock 42.70 38.94 36.42 33.41 32.69
Total Special Items -0.25 -0.09 -8.32 0.00 --
Normalized Income Before Taxes 108.76 81.80 100.02 94.48 98.22
Effect of Special Items on Income Taxes -0.06 -0.02 -3.00 0.00 --
Income Taxes Excluding Impact of Special Items 24.61 18.01 36.06 34.74 37.73
Normalized Income After Taxes 84.15 63.79 63.97 59.74 60.48
Normalized Income Available to Common 83.79 63.46 63.59 59.41 60.10
Basic Normalized EPS 2.28 1.73 1.74 1.63 1.60
Diluted Normalized EPS 2.27 1.72 1.73 1.62 1.60
Amortization of Intangibles, Supplemental 1.30 1.10 1.50 1.90 1.90
Depreciation, Supplemental 34.41 39.56 37.77 37.21 40.77
Interest Expense, Supplemental 24.59 23.43 22.58 21.99 21.09
Rental Expense, Supplemental 6.13 2.50 2.40 2.30 2.74
Stock-Based Compensation, Supplemental 2.52 3.85 2.89 2.54 2.75
Audit-Related Fees, Supplemental 1.54 1.39 1.42 1.36 1.33
Tax Fees, Supplemental 0.04 0.04 0.03 0.03 0.04
All Other Fees Paid to Auditor, Supplemental 0.00 0.07 0.03 0.00 0.00
Operating Margin 26.82 23.12 28.85 26.19 25.83
Pretax Margin 23.00 18.75 24.59 21.66 21.41
Effective Tax Rate 22.63 22.02 36.05 36.77 38.42
Net Profit Margin 17.72 14.54 15.64 13.62 13.10
Normalized EBIT 126.82 100.90 118.78 114.19 118.49
Normalized EBITDA 162.53 141.56 158.05 153.30 161.16
Current Tax - Domestic 12.51 17.25 20.98 2.30 21.87
Current Tax - Local 5.54 6.54 5.84 4.80 5.44
Current Tax - Total 18.05 23.79 26.82 7.10 27.31
Deferred Tax - Domestic 6.41 -4.32 11.63 26.72 8.95
Deferred Tax - Local 0.22 -1.44 0.61 0.93 1.48
Deferred Tax - Total 6.62 -5.76 12.23 27.64 10.42
Income Tax - Total 24.67 18.03 39.06 34.74 37.73
Interest Cost - Domestic 8.53 7.65 7.90 7.91 7.69
Service Cost - Domestic 4.44 5.34 5.00 5.09 6.28
Prior Service Cost - Domestic 0.43 0.00 0.00 0.05 0.12
Expected Return on Assets - Domestic -10.37 -11.17 -9.71 -9.84 -9.80
Actuarial Gains and Losses - Domestic 1.42 1.05 0.78 2.11 2.22
Curtailments & Settlements - Domestic -- -- -- -- 0.00
Transition Costs - Domestic -- -- -- 0.00 --
Other Pension, Net - Domestic -0.59 0.00 0.47 0.86 0.52
Domestic Pension Plan Expense 3.85 2.86 4.44 6.19 7.03
Interest Cost - Post-Retirement 1.35 1.18 1.22 1.11 0.44
Service Cost - Post-Retirement 1.38 1.31 1.16 1.05 0.34
Prior Service Cost - Post-Retirement 0.00 0.00 0.01 -0.01 -0.20
Expected Return on Assets - Post-Retirement -0.45 -0.49 -0.47 -0.49 -0.49
Actuarial Gains and Losses - Post-Retirement -0.33 -0.77 -0.78 -0.70 -0.32
Transition Costs - Post-Retirement -- -- -- 0.00 0.00
Post-Retirement Plan Expense 1.95 1.23 1.15 0.96 -0.23
Defined Contribution Expense - Domestic 1.60 -- -- -- 0.00
Total Pension Expense 7.41 4.10 5.59 7.15 6.80
Discount Rate - Post-Retirement -- 3.52 3.97 4.25 3.80
Expected Rate of Return - Domestic -- 6.50 6.50 7.00 7.00
Compensation Rate - Domestic -- 4.00 4.00 4.00 --
Total Plan Interest Cost 9.88 8.83 9.12 9.02 8.12
Total Plan Service Cost 5.82 6.66 6.16 6.14 6.62
Total Plan Expected Return -10.82 -11.67 -10.17 -10.33 -10.29
Total Plan Other Expense -0.59 0.00 0.47 0.86 0.52
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