Xcel Energy 2014 Annual Report Download - page 176
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158
SCHEDULE I
XCEL ENERGY INC.
CONDENSED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
(amounts in thousands, except per share data)
Year Ended Dec. 31
2014 2013 2012
Income
Equity earnings of subsidiaries. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,077,714 $ 1,018,783 $ 976,395
Total income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,077,714 1,018,783 976,395
Expenses and other deductions
Operating expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19,756 18,513 15,948
Other income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (537)(206) (652)
Interest charges and financing costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 84,830 102,914 116,731
Total expenses and other deductions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 104,049 121,221 132,027
Income before income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 973,665 897,562 844,368
Income tax benefit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (47,641)(50,672) (60,861)
Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,021,306 $ 948,234 $ 905,229
Other Comprehensive Income
Pension and retiree medical benefits, net of tax of $(2,528), $5,897 and $(2,331),
respectively . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $(4,022) $ 4,714 $ (3,311)
Derivative instruments, net of tax of $1,390, $2,558 and $(9,906), respectively. . . . . . . . . 2,125 1,488 (15,503)
Other, net of tax of $21, $117 and $135, respectively . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33 176 196
Other comprehensive (loss) income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1,864) 6,378 (18,618)
Comprehensive income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,019,442 $ 954,612 $ 886,611
Weighted average common shares outstanding:
Basic . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 503,847 496,073 487,899
Diluted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 504,117 496,532 488,434
Earnings per average common share:
Basic . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2.03 $ 1.91 $ 1.86
Diluted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.03 1.91 1.85
Cash dividends declared per common share . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.20 1.11 1.07
See Notes to Condensed Financial Statements