| TECO
ENERGY, Inc. |
| CONSOLIDATED
STATEMENTS OF INCOME (Unaudited) |
| (All significant
intercompany transactions have been eliminated in the consolidated financial
statements.) |
|
| |
| |
|
Three Months Ended |
|
Six Months Ended |
|
Twelve Months Ended |
| |
|
June 30, |
|
June 30, |
|
June 30, |
| (thousands) |
|
2001 |
|
2000 |
|
2001 |
|
2000 |
|
2001 |
|
2000 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Revenues |
|
$ 641,799 |
|
$ 559,526 |
|
$ 1,314,396 |
|
$ 1,083,996 |
|
$ 2,526,434 |
|
$ 2,129,994 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Expenses |
|
|
|
|
|
|
|
|
|
|
|
|
| Operation |
|
381,386 |
|
314,187 |
|
790,606 |
|
593,777 |
|
1,519,656 |
|
1,157,271 |
| Maintenance |
|
37,503 |
|
43,694 |
|
74,339 |
|
79,567 |
|
134,751 |
|
144,545 |
| Depreciation |
|
73,095 |
|
64,019 |
|
142,598 |
|
126,016 |
|
284,782 |
|
243,336 |
| Taxes, other than income |
|
43,935 |
|
37,913 |
|
90,086 |
|
76,857 |
|
164,381 |
|
150,372 |
|
| Total expenses |
|
535,919 |
|
459,813 |
|
1,097,629 |
|
876,217 |
|
2,103,570 |
|
1,695,524 |
|
| Income from operations |
|
105,880 |
|
99,713 |
|
216,767 |
|
207,779 |
|
422,864 |
|
434,470 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Other income (expense) |
|
|
|
|
|
|
|
|
|
|
|
|
| Allowance for other funds used during construction |
|
1,314 |
|
640 |
|
2,073 |
|
977 |
|
2,743 |
|
2,188 |
| Other income (expense), net |
|
13,529 |
|
5,144 |
|
17,080 |
|
6,682 |
|
31,459 |
|
(8,829) |
|
| Total other income (expense) |
|
14,843 |
|
5,784 |
|
19,153 |
|
7,659 |
|
34,202 |
|
(6,641) |
|
| Income before interest and income taxes |
|
120,723 |
|
105,497 |
|
235,920 |
|
215,438 |
|
457,066 |
|
427,829 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Interest charges |
|
|
|
|
|
|
|
|
|
|
|
|
| Interest expense |
|
42,594 |
|
39,520 |
|
83,791 |
|
75,398 |
|
175,963 |
|
145,904 |
| Distribution on Preferred Securities |
|
4,250 |
|
- |
|
8,500 |
|
- |
|
8,500 |
|
- |
| Allowance for borrowed funds used during construction |
|
(508) |
|
(247) |
|
(801) |
|
(377) |
|
(1,059) |
|
(845) |
|
| Total interest charges |
|
46,336 |
|
39,273 |
|
91,490 |
|
75,021 |
|
183,404 |
|
145,059 |
|
| Income before provision for income taxes |
|
74,387 |
|
66,224 |
|
144,430 |
|
140,417 |
|
273,662 |
|
282,770 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Provision for income taxes |
|
2,528 |
|
8,724 |
|
2,830 |
|
29,434 |
|
(7,835) |
|
73,177 |
|
| Net income from continuing operations |
|
71,859 |
|
57,500 |
|
141,600 |
|
110,983 |
|
281,497 |
|
209,593 |
| Net loss from discontinued operations |
|
- |
|
- |
|
- |
|
- |
|
- |
|
(705) |
| Loss on disposal of discontinued operations, net of tax |
|
- |
|
- |
|
- |
|
- |
|
- |
|
(12,919) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net income |
|
$ 71,859 |
|
$ 57,500 |
|
$ 141,600 |
|
$ 110,983 |
|
$ 281,497 |
|
$ 195,969 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Average common shares outstanding during |
|
|
|
|
|
|
|
|
|
|
|
|
| the period (thousands) |
|
135,670 |
|
125,342 |
|
131,712 |
|
125,842 |
|
128,978 |
|
128,129 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Earnings per average common share outstanding: |
|
|
|
|
|
|
|
|
|
|
|
|
| From continuing operations -- basic |
|
$ 0.53 |
|
$ 0.46 |
|
$ 1.07 |
|
$ 0.88 |
|
$ 2.18 |
|
$ 1.64 |
| From discontinued operations -- basic |
|
- |
|
- |
|
- |
|
- |
|
- |
|
(0.11) |
|
| |
|
$ 0.53 |
|
$ 0.46 |
|
$ 1.07 |
|
$ 0.88 |
|
$ 2.18 |
|
$ 1.53 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| From continuing operations -- diluted |
|
$ 0.52 |
|
$ 0.46 |
|
$ 1.06 |
|
$ 0.88 |
|
$ 2.16 |
|
$ 1.64 |
| From discontinued operations -- diluted |
|
- |
|
- |
|
- |
|
- |
|
- |
|
(0.11) |
|
| |
|
$ 0.52 |
|
$ 0.46 |
|
$ 1.06 |
|
$ 0.88 |
|
$ 2.16 |
|
$ 1.53 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|