Xcel Energy 2002 Annual Report Download - page 30

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Year ended Dec. 31
(Thousands of dollars, except per share data) 2002 2001 2000
operating revenues
Electric utility $ 5,435,377 $6,394,737 $5,674,485
Natural gas utility 1,397,800 2,052,651 1,468,880
Electric and natural gas trading margin 8,485 89,249 41,357
Nonregulated and other 2,611,149 2,579,715 1,856,030
Equity earnings from investments in affiliates 71,561 217,070 182,714
Total operating revenues 9,524,372 11,333,422 9,223,466
operating expenses
Electric fuel and purchased power – utility 2,199,099 3,171,660 2,580,723
Cost of natural gas sold and transported – utility 851,987 1,517,557 948,145
Cost of sales – nonregulated and other 1,361,466 1,318,586 876,698
Other operating and maintenance expenses – utility 1,501,602 1,506,039 1,446,122
Other operating and maintenance expenses – nonregulated 787,968 676,408 533,379
Depreciation and amortization 1,037,429 906,303 766,746
Taxes (other than income taxes) 318,641 316,492 351,412
Write-downs and disposal losses from investments (see Notes 2 and 3) 207,290 ––
Special charges (see Note 2) 2,691,223 62,230 241,042
Total operating expenses 10,956,705 9,475,275 7,744,267
Operating income (loss) (1,432,333) 1,858,147 1,479,199
Interest income 45,863 43,548 27,480
Other nonoperating income 28,167 17,961 5,094
Other nonoperating expense (30,043) (15,623) (15,994)
interest charges and financing costs
Interest charges – net of amounts capitalized (includes other financing
costs of $59,724, $21,058 and $20,772, respectively) 879,736 727,976 614,173
Distributions on redeemable preferred securities of subsidiary trusts 38,344 38,800 38,800
Total interest charges and financing costs 918,080 766,776 652,973
Income (loss) from continuing operations before income taxes and minority interest (2,306,426) 1,137,257 842,806
Income taxes (627,985) 331,371 299,030
Minority interest (17,071) 68,199 29,994
Income (loss) from continuing operations (1,661,370) 737,687 513,782
Income (loss) from discontinued operations – net of tax (see Note 3) (556,621) 46,992 32,006
Income (loss) before extraordinary items (2,217,991) 784,679 545,788
Extraordinary items – net of income taxes of $0, $4,807 and ($8,549), respectively –10,287 (18,960)
Net income (loss) (2,217,991) 794,966 526,828
Dividend requirements on preferred stock 4,241 4,241 4,241
Earnings available for common shareholders $(2,222,232) $ 790,725 $ 522,587
weighted average common shares outstanding (thousands)
Basic 382,051 342,952 337,832
Diluted 382,051 343,742 338,111
earnings (loss) per share – basic
Income (loss) from continuing operations $(4.36) $ 2.14 $ 1.51
Discontinued operations (see Note 3) (1.46) 0.14 0.09
Extraordinary items (see Note 15) – 0.03 (0.06)
Earnings (loss) per share $(5.82) $ 2.31 $ 1.54
earnings (loss) per share – diluted
Income (loss) from continuing operations $(4.36) $ 2.13 $ 1.51
Discontinued operations (see Note 3) (1.46) 0.14 0.09
Extraordinary items (see Note 15) –0.03 (0.06)
Earnings (loss) per share $(5.82) $ 2.30 $ 1.54
See Notes to Consolidated Financial Statements
page 44 xcel energy inc. and subsidiaries
consolidated statements of operations