Vectren 2010 Annual Report Download - page 70

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68
VECTREN CORPORATION AND SUBSIDIARY COMPANIES
CONSOLIDATED STATEMENTS OF INCOME
(In millions, except per share amounts)
2010 2009 2008
OPERATING REVENUES
Gas utility 954.1$ 1,066.0$ 1,432.7$
Electric utility 608.0 528.6 524.2
Nonutility 567.4 494.3 527.8
Total operating revenues 2,129.5 2,088.9 2,484.7
OPERATING EXPENSES
Cost of gas sold 504.7 618.1 983.1
Cost of fuel & purchased power 235.0 194.3 182.9
Cost of nonutility revenues 243.3 207.5 282.2
Other operating 538.4 514.0 506.3
Depreciation & amortization 229.1 211.9 192.3
Taxes other than income taxes 62.2 63.0 74.5
Total operating expenses 1,812.7 1,808.8 2,221.3
OPERATING INCOME 316.8 280.1 263.4
OTHER INCOME (EXPENSE)
Equity in earnings (losses) of unconsolidated affiliates (8.6) 3.4 37.4
Other income – net 4.8 13.7 2.1
Total other income (expense) (3.8) 17.1 39.5
Interest expense 104.6 100.0 97.8
INCOME BEFORE INCOME TAXES 208.4 197.2 205.1
Income taxes 74.7 64.1 76.1
NET INCOME 133.7$ 133.1$ 129.0$
AVERAGE COMMON SHARES OUTSTANDING 81.2 80.7 78.3
DILUTED COMMON SHARES OUTSTANDING 81.3 81.0 78.7
EARNINGS PER SHARE OF COMMON STOCK:
BASIC 1.65$ 1.65$ 1.65$
DILUTED 1.64$ 1.64$ 1.63$
Year Ended December 31,
The accompanying notes are an integral part of these consolidated financial statements.