Eversource 2009 Annual Report Download - page 112
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FS-27
WESTERN MASSACHUSETTS ELECTRIC COMPANY AND SUBSIDIARY
CONSOLIDATED STATEMENTS OF INCOME
For the Years Ended December 31,
(Thousands of Dollars) 2009 2008 2007
Operating Revenues $ 402,413 $ 441,527 $ 464,745
Operating Expenses:
Operation -
Fuel, purchased and net interchange power 192,177 237,369 236,582
Other 85,591 76,929 98,837
Maintenance 17,895 20,720 18,618
Depreciation 22,454 21,025 20,868
Amortization of regulatory (liabilities)/assets, net (2,980) 12,445 10,601
Amortization of rate reduction bonds 14,521 13,625 12,766
Taxes other than income taxes 14,174 12,867 12,322
Total operating expenses 343,832 394,980 410,594
Operating Income 58,581 46,547 54,151
Interest Expense:
Interest on long-term debt 14,074 13,244 11,577
Interest on rate reduction bonds 4,335 5,133 5,839
Other interest 877 1,256 2,430
Interest expense, net 19,286 19,633 19,846
Other Income, Net 1,824 1,961 3,885
Income Before Income Tax Expense 41,119 28,875 38,190
Income Tax Expense 14,923 10,545 14,586
Net Income $ 26,196 $ 18,330 $ 23,604
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net Income $ 26,196 $ 18,330 $ 23,604
Other comprehensive loss, net of tax:
Qualified cash flow hedging instruments (79) (79) (704)
Changes in unrealized gains/losses on other securities (119) 38 42
Other comprehensive loss, net of tax (198) (41) (662)
Comprehensive Income $ 25,998 $ 18,289 $ 22,942
The accompanying notes are an integral part of these consolidated financial statements.