Vectren 2013 Annual Report Download - page 74

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72
VECTREN CORPORATION AND SUBSIDIARY COMPANIES
CONSOLIDATED STATEMENTS OF INCOME
(In millions, except per share amounts)
Year Ended December 31,
2013 2012 2011
OPERATING REVENUES
Gas utility $ 810.0 $ 738.1 $ 819.1
Electric utility 619.3 594.9 635.9
Nonutility 1,061.9 899.8 870.2
Total operating revenues 2,491.2 2,232.8 2,325.2
OPERATING EXPENSES
Cost of gas sold 358.1 301.3 375.4
Cost of fuel & purchased power 202.9 192.0 240.4
Cost of nonutility revenues 366.7 295.1 385.3
Other operating 891.6 781.0 652.2
Depreciation & amortization 277.8 254.6 244.3
Taxes other than income taxes 60.5 56.3 57.6
Total operating expenses 2,157.6 1,880.3 1,955.2
OPERATING INCOME 333.6 352.5 370.0
OTHER INCOME (EXPENSE)
Equity in (losses) of unconsolidated affiliates (59.7) (23.3) (32.0)
Other income (expense) – net 17.7 8.3 (3.5)
Total other expense (42.0) (15.0) (35.5)
Interest expense 87.9 96.0 106.5
INCOME BEFORE INCOME TAXES 203.7 241.5 228.0
Income taxes 67.1 82.5 86.4
NET INCOME $ 136.6 $ 159.0 $ 141.6
AVERAGE COMMON SHARES OUTSTANDING 82.3 82.0 81.8
DILUTED COMMON SHARES OUTSTANDING 82.4 82.1 81.8
EARNINGS PER SHARE OF COMMON STOCK:
BASIC $ 1.66 $ 1.94 $ 1.73
DILUTED $ 1.66 $ 1.94 $ 1.73
The accompanying notes are an integral part of these consolidated financial statements.