Vectren 2012 Annual Report Download - page 72

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70
VECTREN CORPORATION AND SUBSIDIARY COMPANIES
CONSOLIDATED STATEMENTS OF INCOME
(In millions, except per share amounts)
Year Ended December 31,
2012 2011 2010
OPERATING REVENUES
Gas utility $ 738.1 $ 819.1 $ 954.1
Electric utility 594.9 635.9 608.0
Nonutility 899.8 870.2 567.4
Total operating revenues 2,232.8 2,325.2 2,129.5
OPERATING EXPENSES
Cost of gas sold 301.3 375.4 504.7
Cost of fuel & purchased power 192.0 240.4 235.0
Cost of nonutility revenues 295.1 385.3 243.3
Other operating 781.0 652.2 538.4
Depreciation & amortization 254.6 244.3 229.1
Taxes other than income taxes 56.3 57.6 62.2
Total operating expenses 1,880.3 1,955.2 1,812.7
OPERATING INCOME 352.5 370.0 316.8
OTHER INCOME (EXPENSE)
Equity in (losses) of unconsolidated affiliates (23.3) (32.0) (8.6)
Other income (expense) – net 8.3 (3.5) 4.8
Total other income (expense) (15.0) (35.5) (3.8)
Interest expense 96.0 106.5 104.6
INCOME BEFORE INCOME TAXES 241.5 228.0 208.4
Income taxes 82.5 86.4 74.7
NET INCOME $ 159.0 $ 141.6 $ 133.7
AVERAGE COMMON SHARES OUTSTANDING 82.0 81.8 81.2
DILUTED COMMON SHARES OUTSTANDING 82.1 81.8 81.3
EARNINGS PER SHARE OF COMMON STOCK:
BASIC $ 1.94 $ 1.73 $ 1.65
DILUTED $ 1.94 $ 1.73 $ 1.64
The accompanying notes are an integral part of these consolidated financial statements.