Vectren 2014 Annual Report Download - page 128

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5-Year Financial Review
$ in millions, except per share amounts 2014 2013 2012 2011 2010
Key Financial Data
Operating revenues 2,611.7$ 2,491.2$ 2,232.8$ 2,325.2$ 2,129.5$
Operating income 314.5 333.6 352.5 370.0 316.8
Utility net income 148.4 141.8 138.0 122.9 123.9
Net income 1188.0$ 174.1$ 159.0$ 141.6$ 133.7$
Common Stock Data
A
verage shares outstanding - basic 82.5 82.3 82.0 81.8 81.2
Earnings per share - basic 1 2.28$ 2.12$ 1.94$ 1.73$ 1.65$
Dividends per share 1.460$ 1.425$ 1.405$ 1.385$ 1.365$
Dividend payout ratio 164% 67% 72% 80% 83%
Book value per share 19.45$ 18.86$ 18.57$ 17.89$ 17.61$
Market price (year-end, closing) 46.23$ 35.50$ 29.40$ 30.23$ 25.38$
Return on average shareholders' equity 111.9% 11.3% 10.6% 9.8% 9.4%
Balance Sheet Data
Capitalization
Common shareholders' equity 1,606.6$ 1,554.3$ 1,526.1$ 1,465.5$ 1,438.9$
Long-term debt, incl. current maturities 1,577.3 1,807.1 1,659.8 1,622.3 1,715.9
Total 3,183.9$ 3,361.4$ 3,185.9$ 3,087.8$ 3,154.8$
Capitalization ratios
Common shareholders' equity 50.5% 46.2% 47.9% 47.5% 45.6%
Long-term debt, incl. current maturitie
s
49.5% 53.8% 52.1% 52.5% 54.4%
Capital expenditures
Utilit
y
350.7$ 261.1$ 246.0$ 233.4$ 225.1$
Nonutility 97.6 132.3 119.8 87.9 52.1
Total 448.3$ 393.4$ 365.8$ 321.3$ 277.2$
Total assets 5,162.3$ 5,102.6$ 5,089.1$ 4,878.9$ 4,764.2$
Utility Operating Statistics
Gas distribution
Operating revenues 944.6$ 810.0$ 738.1$ 819.1$ 954.1$
Margin 475.9$ 451.9$ 436.8$ 443.7$ 449.4$
A
verage customers (in thousands) 998 992 986 984 982
Electri
c
Operating revenues 624.8$ 619.3$ 594.9$ 635.9$ 608.0$
Margin 423.0$ 416.4$ 402.9$ 395.5$ 373.0$
A
verage customers (in thousands) 143 142 142 141 141
Weather as a percent of normal
Heating degree days (Ohio) 110% 103% 88% 100% 105%
Cooling degree days (Indiana) 104% 103% 130% 116% 134%
(1) Excludes a $21.1 million, or $0.26 per share, after-tax loss from Coal Mining in 2014, the year of disposition. Reported results
for 2014 were net income of $166.9 million, or $2.02 per share. Based upon reported results, the dividend payout ratio and the
return on average shareholders’ equity for 2014 were 72% and 10.5%, respectively.
Excludes a $37.5 million, or $0.46 per share, after-tax loss from ProLiance in 2013, the year of disposition of its gas
marketing assets. Reported results for 2013 were net income of $136.6 million, or $1.66 per share. Based upon reported results,
the dividend payout ratio and the return on average shareholders’ equity for 2013 were 86% and 8.9%, respectively.
See page 31 of the 2014 Form 10-K incorporated herein for more information regarding the use of non-GAAP measures.
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