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55
EVERSOURCE ENERGY AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
For the Years Ended December 31,
(Thousands of Dollars, Except Share Information) 2015 2014 2013
Operating Revenues $ 7,954,827 $ 7,741,856 $ 7,301,204
Operating Expenses:
Purchased Power, Fuel and Transmission 3,086,905 3,021,550 2,482,954
Operations and Maintenance 1,329,289 1,427,589 1,514,986
Depreciation 665,856 614,657 610,777
Amortization of Regulatory Assets, Net 22,339 10,704 206,322
Amortization of Rate Reduction Bonds - - 42,581
Energy Efficiency Programs 495,701 473,127 401,919
Taxes Other Than Income Taxes 590,573 561,380 512,230
Total Operating Expenses 6,190,663 6,109,007 5,771,769
Operating Income 1,764,164 1,632,849 1,529,435
Interest Expense 372,420 362,106 338,699
Other Income, Net 34,227 24,619 29,894
Income Before Income Tax Expense 1,425,971 1,295,362 1,220,630
Income Tax Expense 539,967 468,297 426,941
Net Income 886,004 827,065 793,689
Net Income Attributable to Noncontrolling Interests 7,519 7,519 7,682
Net Income Attributable to Common Shareholders $ 878,485 $ 819,546 $ 786,007
Basic Earnings Per Common Share $ 2.77 $ 2.59 $ 2.49
Diluted Earnings Per Common Share $ 2.76 $ 2.58 $ 2.49
Weighted Average Common Shares Outstanding:
Basic 317,336,881 316,136,748 315,311,387
Diluted 318,432,687 317,417,414 316,211,160
The accompanying notes are an integral part of these consolidated financial statements.
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net Income $ 886,004 $ 827,065 $ 793,689
Other Comprehensive Income/(Loss), Net of Tax:
Qualified Cash Flow Hedging Instruments 2,079
2,037
2,049
Changes in Unrealized (Losses)/Gains on Marketable Securities (2,588)
315
(940)
Changes in Funded Status of Pension, SERP and PBOP Benefit Plans 7,674
(30,330)
25,714
Other Comprehensive Income/(Loss), Net of Tax 7,165 (27,978) 26,823
Comprehensive Income Attributable to Noncontrolling Interests (7,519)
(7,519)
(7,682)
Comprehensive Income Attributable to Common Shareholders $ 885,650 $ 791,568 $ 812,830
The accompanying notes are an integral part of these consolidated financial statements.