OG&E 2009 Annual Report Download - page 61

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Item 8. Financial Statements and Supplementary Data.
OKLAHOMA GAS AND ELECTRIC COMPANY
STATEMENTS OF INCOME
Year ended December 31 (In millions) 2009 2008 2007
OPERATING REVENUES $ 1,751.2 $ 1,959.5 $ 1,835.1
COST OF GOODS SOLD (exclusive of depreciation and amortization
shown below) 796.3 1,114.9 1,025.1
Gross margin on revenues 954.9 844.6 810.0
Other operation and maintenance 348.0 351.6 320.7
Depreciation and amortization 187.4 155.0 141.3
Impairment of assets 0.3 --- ---
Taxes other than income 65.1 59.7 56.0
OPERATING INCOME 354.1 278.3 292.0
OTHER INCOME (EXPENSE)
Interest income 1.1 4.4 ---
Allowance for equity funds used during construction 15.1 --- ---
Other income 20.4 3.6 5.0
Other expense (6.7) (11.8) (7.2)
Net other income (expense) 29.9 (3.8) (2.2)
INTEREST EXPENSE
Interest on long-term debt 96.5 67.3 50.9
Allowance for borrowed funds used during construction (8.3) (4.0) (4.0)
Interest on short-term debt and other interest charges 5.4 15.8 8.0
Interest expense 93.6 79.1 54.9
INCOME BEFORE TAXES 290.4 195.4 234.9
INCOME TAX EXPENSE 90.0 52.4 73.2
NET INCOME $ 200.4 $ 143.0 $ 161.7
The accompanying Notes to Financial Statements are an integral part hereof.
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