Vectren 2014 Annual Report Download - page 51

IBEBOFTUJNBUFECBDLMPHPGCMBOLFUDPOUSBDUTPGNJMMJPOBOEBCBDLMPHPGGJYFEQSJDFDPOUSBDUTPGNJMMJPOGPSBUPUBM
CBDLMPHPGNJMMJPO5IFFTUJNBUFECBDLMPHBU%FDFNCFSXBTNJMMJPOGPSCMBOLFUDPOUSBDUTBOENJMMJPOGPS
GJYFEQSJDFDPOUSBDUTGPSBUPUBMPGNJMMJPO5PUBM*OGSBTUSVDUVSF4FSWJDFTHSPTTSFWFOVFTJOXFSFNJMMJPO
DPNQBSFEUPHSPTTSFWFOVFTPGNJMMJPOJOBOENJMMJPOJO
5IFCBDLMPHBNPVOUTBCPWFSFGMFDUFTUJNBUFTPGSFWFOVFTUPCFSFBMJ[FEVOEFSCMBOLFUDPOUSBDUT1SPKFDUTJODMVEFEJOCBDLMPH
DBOCFTVCKFDUUPEFMBZTPSDBODFMMBUJPOBTBSFTVMUPGSFHVMBUPSZSFRVJSFNFOUTBEWFSTFXFBUIFSDPOEJUJPOTDVTUPNFS
SFRVJSFNFOUTBNPOHPUIFSGBDUPSTXIJDIDPVMEDBVTFBDUVBMSFWFOVFBNPVOUTUPEJGGFSTJHOJGJDBOUMZGSPNUIFFTUJNBUFTBOEPS
SFWFOVFTUPCFSFBMJ[FEJOQFSJPETPUIFSUIBOPSJHJOBMMZFYQFDUFE
"TFWJEFODFECZJODSFBTFECBDLMPHOVNCFSTDPOTUSVDUJPOBDUJWJUZHFOFSBMMZJTFYQFDUFEUPSFNBJOTUSPOHBTVUJMJUJFT
NVOJDJQBMJUJFTBOEQJQFMJOFPQFSBUPSTSFQMBDFUIFJSBHJOHOBUVSBMHBTBOEPJMQJQFMJOFTBOESFMBUFEJOGSBTUSVDUVSF$POTUSVDUJPO
BDUJWJUZIBTCFFOGBWPSBCMZJNQBDUFEBTQJQFMJOFPQFSBUPSTDPOTUSVDUOFXQJQFMJOFTEVFUPUIFDPOUJOVFETUSPOHEFNBOEGPS
TIBMFHBTBOEPJMJOGSBTUSVDUVSF5IFSFDFOUESPQJOPJMQSJDFTJTOPUFYQFDUFEUPIBWFBTJHOJGJDBOUJNQBDUPO*OGSBTUSVDUVSF
4FSWJDFTPQFSBUJPOTJOEVFUPUIFQSPKFDUNJYBOEUIFDPOUJOVFEQSPKFDUFETUSPOHEFNBOE'VSUIFSPJMQSPEVDUJPODVUT
IBWFCFFOQSFEPNJOBUFMZSFMBUFEUPUIFESJMMJOHPGOFXXFMMTBOEBTTVDIQJQFMJOFJTTUJMMCFJOHCVJMUGPSQSPEVDJOHXFMMT5ZQJDBMMZ
DIBOHFTJOUIFNBSLFUTJOXIJDI*OGSBTUSVDUVSF4FSWJDFTPQFSBUFXJMMMBHBOFDPOPNJDDIBOHFCZNPOUITEVFUPUIFGBDUUIBU
NBOZQSPKFDUTIBWFBMSFBEZTUBSUFEPSIBWFDPNNJUUFETUBSUEBUFT8IJMFUIFESPQJOPJMQSJDFTDPVMEIBWFBHSFBUFSJNQBDUJO
BOECFZPOEJGQSJDFTEPOPUSFCPVOEJOUIFNJYPGBDUJWJUZJTGBWPSBCMFBOEUIFMPOHUFSNUSFOETBSFHPPE
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&OFSHZ4FSWJDFTQSPWJEFTFOFSHZQFSGPSNBODFDPOUSBDUJOHBOETVTUBJOBCMFJOGSBTUSVDUVSFTVDIBTEJTUSJCVUFEHFOFSBUJPO
SFOFXBCMFTBOEDPNCJOFEIFBUBOEQPXFSQSPKFDUTUISPVHIJUTXIPMMZPXOFETVCTJEJBSZ&4(*ODMVTJWFPGIPMEJOHDPNQBOZ
DPTUT&OFSHZ4FSWJDFTbPQFSBUJPOTXFSFBMPTTPGNJMMJPOJODPNQBSFEUPFBSOJOHTPGNJMMJPOJOBOE
NJMMJPOJO
3FTVMUTJOXFSFMPXFSEVFUPBSFEVDUJPOJOUBYEFEVDUJPOTBTTPDJBUFEXJUIFOFSHZFGGJDJFODZQSPKFDUT5IFJNQBDUPGUIFTF
UBYEFEVDUJPOTPOSFTVMUTOFUPGDPOTVMUJOHGFFTXBTNJMMJPOJODPNQBSFEUPNJMMJPOJOBOENJMMJPOJO
5IFTFUBYEFEVDUJPOTXFSFSFUSPBDUJWFMZFYUFOEFEGPS3FTVMUTJOBMTPSFGMFDUBOBGUFSUBYHBJOPGNJMMJPO
SFMBUFEUPUIFSFWFSTBMPGUIFDPOUJOHFOUDPOTJEFSBUJPOMJBCJMJUZBTTPDJBUFEXJUIUIFBDRVJTJUJPOPGUIFGFEFSBMCVTJOFTTVOJUGSPN
$&45IFDPOUJOHFOUMJBCJMJUZXBTSFWFSTFEEVFUPGBJMVSFUPNFFUDFSUBJOFBSOPVUUISFTIPMETBTBSFTVMUPGEFMBZTJODMPTJOH
DFSUBJOQSPKFDUTDVSSFOUMZJOUIFTBMFTGVOOFM5IFTFOPOSFDVSSJOHFBSOJOHTJOXFSFPGGTFUCZBOBGUFSUBYFYQFOTFPG
NJMMJPOJOUFOEFEUPGVOEUIF7FDUSFO'PVOEBUJPO*ODGPSBOFYUFOEFEQFSJPE
5IF$PNQBOZTMPOHUFSNWJFXPGUIFQFSGPSNBODFDPOUSBDUJOHBOETVTUBJOBCMFJOGSBTUSVDUVSFPQQPSUVOJUJFTSFNBJOTQPTJUJWFBT
UIFOBUJPOBMGPDVTPOFOFSHZDPOTFSWBUJPOSFOFXBCMFFOFSHZBOETVTUBJOBCJMJUZDPOUJOVFTHJWFOUIFFYQFDUFESJTFJOQPXFS
QSJDFTBDSPTTUIFDPVOUSZBOEDVTUPNFSGPDVTPOFGGJDJFODZ&YQFDUFEBDUJWJUZJOUIFGFEFSBMTFDUPSBTXFMMBTQPTJUJWF
JOEJDBUJPOTJOUIFQVCMJDTFDUPSBOETVTUBJOBCMFJOGSBTUSVDUVSFCVTJOFTTJTSFGMFDUFEJOBTJHOJGJDBOUJODSFBTFJOUIFCBDLMPHBOE
TBMFTGVOOFM
"TPG%FDFNCFSCBDLMPHXBTNJMMJPODPNQBSFEUPNJMMJPOBU%FDFNCFSBOENJMMJPOBU
%FDFNCFS
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1SJPSUP"VHVTU$PBM.JOJOHPXOFEBOEUISPVHIJUTDPOUSBDUNJOFSTNJOFEBOETPMEDPBMUPUIF$PNQBOZTVUJMJUZ
PQFSBUJPOTBOEUPUIJSEQBSUJFTUISPVHIJUTXIPMMZPXOFETVCTJEJBSZ7FDUSFO'VFMT0O+VMZUIF$PNQBOZBOOPVODFE
UIBUJUIBESFBDIFEBOBHSFFNFOUUPTFMMJUTXIPMMZPXOFEDPBMNJOJOHTVCTJEJBSZ7FDUSFO'VFMTUP4VOSJTF$PBMBO*OEJBOB
CBTFEXIPMMZPXOFETVCTJEJBSZPG)BMMBEPS&OFSHZ$PNQBOZ4VOSJTF$PBMPXOTBOEPQFSBUFTDPBMNJOFTJOUIF*MMJOPJT#BTJO
BOEPO"VHVTUUIFUSBOTBDUJPODMPTFE5PUBMDBTISFDFJWFEXBTBQQSPYJNBUFMZNJMMJPOJODMVTJWFPGBNJMMJPO
DIBOHFJOXPSLJOHDBQJUBMGSPN%FDFNCFSUISPVHIDMPTJOH"U+VOFUIF$PNQBOZSFDPSEFEBOFTUJNBUFE
MPTTPOUIFUSBOTBDUJPOJODMVEJOHDPTUTUPTFMMPGBQQSPYJNBUFMZNJMMJPOPSNJMMJPOBGUFSUBY"U%FDFNCFSUIF
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