Annual Income Statement

  Year Ending Dec 2020 (Update) Year Ending Dec 2019 (Update) Year Ending Dec 2018 (Update) Year Ending Dec 2017 (Reclassified) Year Ending Dec 2016 (Reclassified)
Electric Operations 37.02 39.55 34.35 33.97 35.77
Water Operations 330.64 319.83 295.26 306.33 302.93
Revenue 367.66 359.38 329.61 340.30 338.70
Other Non-Utility Revenue 120.58 114.49 107.21 100.30 97.39
Other Revenue, Total 120.58 114.49 107.21 100.30 97.39
Total Revenue 488.24 473.87 436.82 440.60 436.09
Purchased Power 20.56 20.46 20.56 19.24 19.05
Cost of Revenue 74.55 72.29 68.90 68.30 64.44
Cost of Revenue, Total 95.11 92.75 89.47 87.54 83.49
Operations & Maintenance 119.94 115.83 105.03 95.71 101.23
Selling/General/Administrative Expense 81.15 83.03 82.60 81.64 81.52
Labor & Related Expense 2.46 -- -- -- --
Selling/General/Administrative Expenses, Total 83.62 83.03 82.60 81.64 81.52
Depreciation 36.85 35.40 40.43 39.03 38.85
Depreciation/Amortization 36.85 35.40 40.43 39.03 38.85
Other Unusual Expense (Income) 0.03 -0.25 -0.09 -8.32 0.00
Unusual Expense (Income) 0.03 -0.25 -0.09 -8.32 0.00
Property & Other Taxes 22.20 20.04 18.40 17.91 16.80
Other Operating Expenses, Total 22.20 20.04 18.40 17.91 16.80
Total Operating Expense 357.74 346.80 335.83 313.51 321.90
Operating Income 130.50 127.07 100.98 127.10 114.19
Interest Expense - Non-Operating -22.53 -24.59 -23.43 -22.58 -21.99
Interest Expense, Net Non-Operating -22.53 -24.59 -23.43 -22.58 -21.99
Interest Income, Non-Operating 1.80 3.25 3.58 1.79 0.76
Interest/Investment Income, Non-Operating 1.80 3.25 3.58 1.79 0.76
Interest Income (Expense), Net-Non-Operating, Total -20.73 -21.34 -19.86 -20.79 -21.24
Other Non-Operating Income (Expense) 4.85 3.28 0.76 2.04 1.52
Other, Net 4.85 3.28 0.76 2.04 1.52
Net Income Before Taxes 114.62 109.01 81.89 108.34 94.48
Income Tax – Total 28.20 24.67 18.03 39.06 34.74
Income After Tax 86.43 84.34 63.86 69.29 59.74
Net Income Before Extraordinary Items 86.43 84.34 63.86 69.29 59.74
Discontinued Operations -- -- -- -- --
Extraordinary Item -- -- 0.01 0.08 --
Total Extraordinary Items -- -- 0.01 0.08 --
Net Income 86.43 84.34 63.87 69.37 59.74
Miscellaneous Earnings Adjustment -0.29 -0.36 -0.33 -0.37 -0.33
Total Adjustments to Net Income -0.29 -0.36 -0.33 -0.37 -0.33
Income Available to Common Excluding Extraordinary Items 86.14 83.99 63.52 68.91 59.41
Income Available to Common Stocks Including Extraordinary Items 86.14 83.99 63.54 68.99 59.41
Basic Weighted Average Shares 36.88 36.81 36.73 36.64 36.55
Basic EPS Excluding Extraordinary Items 2.34 2.28 1.73 1.88 1.63
Basic EPS Including Extraordinary Items 2.34 2.28 1.73 1.88 1.63
Dilution Adjustment -- -- -- -- --
Diluted Net Income 86.14 83.99 63.54 68.99 59.41
Diluted Weighted Average Shares 37.00 36.96 36.94 36.84 36.75
Diluted EPS Excluding Extraordinary Items 2.33 2.27 1.72 1.87 1.62
Diluted EPS Including Extraordinary Items 2.33 2.27 1.72 1.87 1.62
DPS - Common Stock Primary Issue 1.28 1.16 1.06 0.99 0.91
Gross Dividends - Common Stock 47.21 42.70 38.94 36.42 33.41
Total Special Items 0.03 -0.25 -0.09 -8.32 0.00
Normalized Income Before Taxes 114.65 108.76 81.80 100.02 94.48
Effect of Special Items on Income Taxes 0.01 -0.06 -0.02 -3.00 0.00
Income Taxes Excluding Impact of Special Items 28.20 24.61 18.01 36.06 34.74
Normalized Income After Taxes 86.45 84.15 63.79 63.97 59.74
Normalized Income Available to Common 86.16 83.79 63.46 63.59 59.41
Basic Normalized EPS 2.34 2.28 1.73 1.74 1.63
Diluted Normalized EPS 2.33 2.27 1.72 1.73 1.62
Amortization of Intangibles, Supplemental 0.65 1.30 1.10 1.50 1.90
Depreciation, Supplemental 36.55 34.41 39.56 37.77 37.21
Interest Expense, Supplemental 22.53 24.59 23.43 22.58 21.99
Rental Expense, Supplemental 5.47 6.13 2.50 2.40 2.30
Stock-Based Compensation, Supplemental 2.46 2.52 3.85 2.89 2.54
Audit-Related Fees, Supplemental -- 1.54 1.39 1.42 1.36
Tax Fees, Supplemental -- 0.04 0.04 0.03 0.03
All Other Fees Paid to Auditor, Supplemental -- 0.00 0.07 0.03 0.00
Operating Margin 26.73 26.82 23.12 28.85 26.19
Pretax Margin 23.48 23.00 18.75 24.59 21.66
Effective Tax Rate 24.60 22.63 22.02 36.05 36.77
Net Profit Margin 17.64 17.72 14.54 15.64 13.62
Normalized EBIT 130.53 126.82 100.90 118.78 114.19
Normalized EBITDA 167.73 162.53 141.56 158.05 153.30
Current Tax - Domestic 19.24 12.51 17.25 20.98 2.30
Current Tax - Local 6.71 5.54 6.54 5.84 4.80
Current Tax - Total 25.95 18.05 23.79 26.82 7.10
Deferred Tax - Domestic 1.81 6.41 -4.32 11.63 26.72
Deferred Tax - Local 0.43 0.22 -1.44 0.61 0.93
Deferred Tax - Total 2.24 6.62 -5.76 12.23 27.64
Income Tax - Total 28.20 24.67 18.03 39.06 34.74
Interest Cost - Domestic 7.88 8.53 7.65 7.90 7.91
Service Cost - Domestic 5.56 4.44 5.34 5.00 5.09
Prior Service Cost - Domestic 0.44 0.43 0.00 0.00 0.05
Expected Return on Assets - Domestic -11.80 -10.37 -11.17 -9.71 -9.84
Actuarial Gains and Losses - Domestic 1.94 1.42 1.05 0.78 2.11
Curtailments & Settlements - Domestic -- -- -- -- --
Transition Costs - Domestic -- -- -- -- 0.00
Other Pension, Net - Domestic -0.48 -0.59 0.00 0.47 0.86
Domestic Pension Plan Expense 3.53 3.85 2.86 4.44 6.19
Interest Cost - Post-Retirement 1.20 1.35 1.18 1.22 1.11
Service Cost - Post-Retirement 1.20 1.38 1.31 1.16 1.05
Prior Service Cost - Post-Retirement -- 0.00 0.00 0.01 -0.01
Expected Return on Assets - Post-Retirement -0.51 -0.45 -0.49 -0.47 -0.49
Actuarial Gains and Losses - Post-Retirement -0.13 -0.33 -0.77 -0.78 -0.70
Transition Costs - Post-Retirement -- -- -- -- 0.00
Post-Retirement Plan Expense 1.75 1.95 1.23 1.15 0.96
Defined Contribution Expense - Domestic 1.90 1.60 -- -- --
Total Pension Expense 7.18 7.41 4.10 5.59 7.15
Discount Rate - Post-Retirement 3.12 -- 3.52 3.97 4.25
Expected Rate of Return - Domestic 6.25 -- 6.50 6.50 7.00
Compensation Rate - Domestic 4.00 -- 4.00 4.00 4.00
Total Plan Interest Cost 9.08 9.88 8.83 9.12 9.02
Total Plan Service Cost 6.76 5.82 6.66 6.16 6.14
Total Plan Expected Return -12.31 -10.82 -11.67 -10.17 -10.33
Total Plan Other Expense -0.48 -0.59 0.00 0.47 0.86
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