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62
NORTHEAST UTILITIES AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
For the Years Ended December 31,
(Thousands of Dollars, Except Share Information)
2013
2012
2011
Operating Revenues
$
7,301,204
$
6,273,787
$
4,465,657
Operating Expenses:
Purchased Power, Fuel and Transmission
2,482,954
2,084,364
1,657,914
Operations and Maintenance
1,514,986
1,583,070
1,095,358
Depreciation
610,777
519,010
302,192
Amortization of Regulatory Assets, Net
206,322
79,762
91,080
Amortization of Rate Reduction Bonds
42,581
142,019
69,912
Energy Efficiency Programs
401,919
313,149
131,415
Taxes Other Than Income Taxes
512,230
434,207
323,610
Total Operating Expenses
5,771,769
5,155,581
3,671,481
Operating Income
1,529,435
1,118,206
794,176
Interest Expense:
Interest on Long-Term Debt
340,970
316,987
231,630
Interest on Rate Reduction Bonds
422
6,168
8,611
Other Interest
(2,693)
6,790
10,184
Interest Expense
338,699
329,945
250,425
Other Income, Net
29,894
19,742
27,715
Income Before Income Tax Expense
1,220,630
808,003
571,466
Income Tax Expense
426,941
274,926
170,953
Net Income
793,689
533,077
400,513
Net Income Attributable to Noncontrolling Interests
7,682
7,132
5,820
Net Income Attributable to Controlling Interest
$
786,007
$
525,945
$
394,693
Basic Earnings Per Common Share
$
2.49
$
1.90
$
2.22
Diluted Earnings Per Common Share
$
2.49
$
1.89
$
2.22
Weighted Average Common Shares Outstanding:
Basic
315,311,387
277,209,819
177,410,167
Diluted
316,211,160
277,993,631
177,804,568
The accompanying notes are an integral part of these consolidated financial statements.