| TECO
ENERGY, Inc. |
| CONSOLIDATED
STATEMENTS OF INCOME (Unaudited) |
| (All significant
intercompany transactions have been eliminated in the consolidated financial
statements.) |
|
| |
| |
|
Three Months Ended |
|
Nine Months Ended |
|
Twelve Months Ended |
| |
|
September 30, |
|
September 30, |
|
September 30, |
| (thousands) |
|
2001 |
|
2000 |
|
2001 |
|
2000 |
|
2001 |
|
2000 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Revenues |
|
$ 678,832 |
|
$ 614,708 |
|
$ 1,993,228 |
|
$ 1,698,704 |
|
$ 2,589,652 |
|
$ 2,188,796 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Expenses |
|
|
|
|
|
|
|
|
|
|
|
|
| Operation |
|
393,836 |
|
357,952 |
|
1,184,442 |
|
951,729 |
|
1,554,819 |
|
1,224,087 |
| Maintenance |
|
32,799 |
|
29,912 |
|
107,138 |
|
109,479 |
|
137,637 |
|
143,968 |
| Depreciation |
|
74,145 |
|
68,769 |
|
216,743 |
|
194,785 |
|
290,157 |
|
253,955 |
| Taxes, other than income |
|
40,587 |
|
37,092 |
|
130,673 |
|
113,949 |
|
167,930 |
|
150,094 |
|
| Total expenses |
|
541,367 |
|
493,725 |
|
1,638,996 |
|
1,369,942 |
|
2,150,543 |
|
1,772,104 |
|
| Income from operations |
|
137,465 |
|
120,983 |
|
354,232 |
|
328,762 |
|
439,109 |
|
416,692 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Other income (expense) |
|
|
|
|
|
|
|
|
|
|
|
|
| Allowance for other funds used during construction |
|
1,950 |
|
422 |
|
4,023 |
|
1,399 |
|
4,271 |
|
2,199 |
| Other income (expense), net |
|
8,947 |
|
10,975 |
|
26,027 |
|
17,657 |
|
29,425 |
|
16,178 |
|
| Total other income (expense) |
|
10,897 |
|
11,397 |
|
30,050 |
|
19,056 |
|
33,696 |
|
18,377 |
|
| Income before interest and income taxes |
|
148,362 |
|
132,380 |
|
384,282 |
|
347,818 |
|
472,805 |
|
435,069 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Interest charges |
|
|
|
|
|
|
|
|
|
|
|
|
| Interest expense |
|
40,230 |
|
48,902 |
|
124,021 |
|
124,300 |
|
167,293 |
|
157,213 |
| Distribution on Preferred Securities |
|
4,250 |
|
- |
|
12,750 |
|
- |
|
12,750 |
|
- |
| Allowance for borrowed funds used during construction |
|
(753) |
|
(163) |
|
(1,554) |
|
(540) |
|
(1,649) |
|
(849) |
|
| Total interest charges |
|
43,727 |
|
48,739 |
|
135,217 |
|
123,760 |
|
178,394 |
|
156,364 |
|
| Income before provision for income taxes |
|
104,635 |
|
83,641 |
|
249,065 |
|
224,058 |
|
294,411 |
|
278,705 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Provision for income taxes |
|
7,303 |
|
1,577 |
|
10,133 |
|
31,011 |
|
(2,354) |
|
42,893 |
|
| Net income from continuing operations |
|
97,332 |
|
82,064 |
|
238,932 |
|
193,047 |
|
296,765 |
|
235,812 |
| Net loss from discontinued operations |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
| Loss on disposal of discontinued operations, net of tax |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net income |
|
$ 97,332 |
|
$ 82,064 |
|
$ 238,932 |
|
$ 193,047 |
|
$ 296,765 |
|
$ 235,812 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Average common shares outstanding during |
|
|
|
|
|
|
|
|
|
|
|
|
| the period (thousands) |
|
135,977 |
|
125,642 |
|
132,997 |
|
125,796 |
|
131,387 |
|
126,654 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Earnings per average common share outstanding: |
|
|
|
|
|
|
|
|
|
|
|
|
| From continuing operations -- basic |
|
$ 0.72 |
|
$ 0.65 |
|
$ 1.79 |
|
$ 1.53 |
|
$ 2.26 |
|
$ 1.86 |
| From discontinued operations -- basic |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
| |
|
$ 0.72 |
|
$ 0.65 |
|
$ 1.79 |
|
$ 1.53 |
|
$ 2.26 |
|
$ 1.86 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| From continuing operations -- diluted |
|
$ 0.71 |
|
$ 0.65 |
|
$ 1.78 |
|
$ 1.53 |
|
$ 2.24 |
|
$ 1.86 |
| From discontinued operations -- diluted |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
| |
|
$ 0.71 |
|
$ 0.65 |
|
$ 1.78 |
|
$ 1.53 |
|
$ 2.24 |
|
$ 1.86 |
|