Vectren 2008 Annual Report Download - page 120

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5-Year Financial Review
In millions, except per share amounts 2008 2007 2006 2005 2004
Key Financial Data
Operating revenues 2,484.7$ 2,281.9$ 2,041.6$ 2,028.0$ 1,689.8$
Operating income 263.4 260.5 220.5 213.1 199.5
Income before income taxes 205.1 219.2 139.2 181.0 147.0
Net income 129.0$ 143.1$ 108.8$ 136.8$ 107.9$
Common Stock Data
Average shares outstanding – basic 78.3 75.9 75.7 75.6 75.6
Average shares outstanding – diluted 78.9 76.6 76.2 76.1 75.9
Earnings per share – basic 1.65$ 1.89$ 1.44$ 1.81$ 1.43$
Earnings per share – diluted 1.63$ 1.87$ 1.43$ 1.80$ 1.42$
Dividends per share 1.31$ 1.27$ 1.23$ 1.19$ 1.15$
Dividend payout ratio 79% 67% 85% 66% 80%
Book value per share 16.69$ 16.17$ 15.43$ 15.04$ 14.42$
Market price (year-end, closing) 25.01$ 29.01$ 28.28$ 27.16$ 26.80$
Return on average shareholders’ equity 10.0% 11.9% 9.4% 12.2% 10.0%
Balance Sheet Data
Capitalization
Common shareholders’ equity 1,351.6$ 1,233.7$ 1,174.2$ 1,143.3$ 1,094.8$
Preferred stock of subsidiary - - - - 0.1
Long-term debt 1,328.3 1,245.7 1,252.2 1,252.1 1,065.1
Total 2,679.9$ 2,479.4$ 2,426.4$ 2,395.4$ 2,160.0$
Capitalization ratios
Common shareholders’ equity 50.4% 49.8% 48.4% 47.7% 50.7%
Long-term debt 49.6% 50.2% 51.6% 52.3% 49.3%
Capital expenditures
Utility 303.7$ 299.8$ 246.6$ 214.5$ 242.2$
Nonutility 87.3 34.7 34.8 17.1 10.3
Total 391.0$ 334.5$ 281.4$ 231.6$ 252.5$
Total assets 4,632.9$ 4,296.4$ 4,091.6$ 3,868.1$ 3,586.9$
Utility Operating Statistics
Gas distribution
Operating revenues 1,432.7$ 1,269.4$ 1,232.5$ 1,359.7$ 1,126.2$
Margin 449.6$ 422.2$ 391.0$ 386.4$ 347.7$
Average Customers (in thousands) 987 987 981 975 966
Electric
Operating revenues 524.2$ 487.9$ 422.2$ 421.4$ 371.3$
Margin 341.3$ 313.1$ 270.7$ 277.3$ 254.5$
Average Customers (in thousands) 141 141 140 139 138
Weather as a percent of normal
Heating degree days* 102% 94% 89% 100% 91%
Cooling degree days 100% 133% 95% 109% 90%
* Weather normalization applies to natural gas rates in Indiana beginning October 2005. Heating degree days
as a percent of normal for 2008, 2007, 2006 and 2005 represent Ohio; for 2004 it represents Indiana.
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