Xcel Energy 2006 Annual Report Download - page 77

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See Notes to Consolidated Financial Statements.
67
XCEL ENERGY INC. AND SUBSIDIARIES
Consolidated Statements of Income
(thousands, except per share data)
Year ended Dec. 31
2006 2005 2004
Operating revenues
Electric utility ...................................................... $7,608,018 $7,243,637 $6,225,245
Natural gas utility ................................................... 2,155,999 2,307,385 1,915,514
Nonregulated and other .............................................. 76,287 74,455 74,802
Total operating revenues............................................ 9,840,304 9,625,477 8,215,561
Operating expenses
Electric fuel and purchased power — utility.............................. 4,103,055 3,922,163 3,040,759
Cost of natural gas sold and transported — utility ......................... 1,644,716 1,823,123 1,445,773
Cost of sales — nonregulated and other................................. 24,388 24,676 28,757
Other operating and maintenance expenses — utility ...................... 1,743,457 1,679,172 1,591,718
Other operating and maintenance expenses — nonregulated ................ 30,069 28,493 44,109
Depreciation and amortization......................................... 821,898 767,321 705,955
Taxes (other than income taxes) ....................................... 295,727 287,810 282,775
Total operating expenses ........................................... 8,663,310 8,532,758 7,139,846
Operating income .................................................... 1,176,994 1,092,719 1,075,715
Interest and other income net (see Note 10).............................. 4,085 857 9,316
Allowance for funds used during construction — equity.................... 25,045 21,627 33,648
Interest charges and financing costs
Interest charges — (includes other financing costs of $24,187, $25,829 and
$27,296, respectively).............................................. 486,967 463,370 458,294
Allowance for funds used during construction — debt..................... (30,935) (20,744) (23,814)
Total interest charges and financing costs.............................. 456,032 442,626 434,480
Income from continuing operations before income taxes ..................... 750,092 672,577 684,199
Income taxes......................................................... 181,411 173,539 161,935
Income from continuing operations..................................... 568,681 499,038 522,264
Income (loss) from discontinued operations — net of tax (see Note 2).......... 3,073 13,934 (166,303)
Net income .......................................................... 571,754 512,972 355,961
Dividend requirements on preferred stock ................................. 4,241 4,241 4,241
Earnings available to common shareholders................................ $ 567,513 $ 508,731 $ 351,720
Weighted average common shares outstanding
Basic.............................................................. 405,689 402,330 399,456
Diluted............................................................ 429,605 425,671 423,334
Earnings (loss) per share — basic
Income from continuing operations..................................... $ 1.39 $ 1.23 $ 1.30
Income (loss) from discontinued operations (see Note 2)................... 0.01 0.03 (0.42)
Earnings per share................................................. $ 1.40 $ 1.26 $ 0.88
Earnings (loss) per share — diluted
Income from continuing operations..................................... $ 1.35 $ 1.20 $ 1.26
Income (loss) from discontinued operations (see Note 2)................... 0.01 0.03 (0.39)
Earnings per share................................................. $ 1.36 $ 1.23 $ 0.87