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65
NORTHEAST UTILITIES AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
For the Years Ended December 31,
(Thousands of Dollars, Except Share Information)
2012
2011
2010
Operating Revenues
$
6,273,787
$
4,465,657
$
4,898,167
Operating Expenses:
Purchased Power, Fuel and Transmission
2,084,364
1,657,914
2,034,501
Operations and Maintenance
1,583,070
1,095,358
1,001,349
Depreciation
519,010
302,192
300,737
Amortization of Regulatory Assets, Net
79,762
91,080
90,054
Amortization of Rate Reduction Bonds
142,019
69,912
232,871
Energy Efficiency Programs
313,149
131,415
124,023
Taxes Other Than Income Taxes 434,207
323,610
314,741
Total Operating Expenses 5,155,581
3,671,481
4,098,276
Operating Income 1,118,206
794,176
799,891
Interest Expense:
Interest on Long-Term Debt
316,987
231,630
231,089
Interest on Rate Reduction Bonds
6,168
8,611
20,573
Other Interest
6,790
10,184
(14,371)
Interest Expense 329,945
250,425
237,291
Other Income, Net
19,742
27,715
41,916
Income Before Income Tax Expense 808,003
571,466
604,516
Income Tax Expense
274,926
170,953
210,409
Net Income
533,077
400,513
394,107
Net Income Attributable to Noncontrolling Interests
7,132
5,820
6,158
Net Income Attributable to Controlling Interest
$
525,945
$
394,693
$
387,949
Basic Earnings Per Common Share
$
1.90
$
2.22
$
2.20
Diluted Earnings Per Common Share
$
1.89
$
2.22
$
2.19
Weighted Average Common Shares Outstanding:
Basic 277,209,819
177,410,167
176,636,086
Diluted
277,993,631
177,804,568
176,885,387
The accompanying notes are an integral part of these consolidated financial statements.
NORTHEAST UTILITIES AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
For the Years Ended December 31,
(Thousands of Dollars)
2012
2011
2010
Net Income $ 533,077
$ 400,513
$ 394,107
Other Comprehensive Income/(Loss), Net of Tax:
Qualified Cash Flow Hedging Instruments
1,971
(14,177)
200
Changes in Unrealized Gains on Other Securities
217
506
402
Change in Funded Status of Pension, SERP and PBOP
Benefit Plans (4,356)
(13,645)
(505)
Other Comprehensive Income/(Loss), Net of Tax
(2,168)
(27,316)
97
Comprehensive Income Attributable to Noncontrolling Interests (7,132)
(5,820)
(6,158)
Comprehensive Income Attributable to Controlling Interest $ 523,777
$ 367,377
$ 388,046
The accompanying notes are an integral part of these consolidated financial statements.