| 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)
|
2000
|
1999
|
2000
|
1999
|
2000
|
1999
| ||||||
| Revenues
|
$ 559,526
|
$ 491,364
|
$ 1,083,996
|
$ 937,082
|
$ 2,129,994
|
$ 1,936,510
| ||||||
| Expenses | ||||||||||||
| Operation | 314,187 | 263,298 | 593,777 | 489,533 | 1,157,271 | 1,011,188 | ||||||
| Maintenance | 43,694 | 32,803 | 79,567 | 60,320 | 144,545 | 129,206 | ||||||
| Depreciation | 64,019 | 56,899 | 126,016 | 114,893 | 243,336 | 231,223 | ||||||
| Taxes, other than
income
|
37,913
|
37,427
|
76,857
|
75,314
|
150,372
|
149,785
| ||||||
| Total expenses
|
459,813
|
390,427
|
876,217
|
740,060
|
1,695,524
|
1,521,402
| ||||||
| Income from operations
|
99,713
|
100,937
|
207,779
|
197,022
|
434,470
|
415,108
| ||||||
| Other income (expense) | ||||||||||||
| Allowance for other funds used during construction | 640 | 150 | 977 | 150 | 2,188 | 80 | ||||||
| Other income (expense),
net
|
5,144
|
1,338
|
6,682
|
2,103
|
(8,829)
|
(3,928)
| ||||||
| Total other income
(expense)
|
5,784
|
1,488
|
7,659
|
2,253
|
(6,641)
|
(3,848)
| ||||||
| Income before interest
and income taxes
|
105,497
|
102,425
|
215,438
|
199,275
|
427,829
|
411,260
| ||||||
| Interest charges | ||||||||||||
| Interest expense | 39,520 | 27,680 | 75,398 | 53,752 | 145,904 | 106,131 | ||||||
| Allowance for borrowed
funds used during construction
|
(247)
|
(58)
|
(377)
|
(58)
|
(845)
|
(31)
| ||||||
| Total interest charges
|
39,273
|
27,622
|
75,021
|
53,694
|
145,059
|
106,100
| ||||||
| Income before provision for income taxes | 66,224 | 74,803 | 140,417 | 145,581 | 282,770 | 305,160 | ||||||
| Provision for income
taxes
|
8,724
|
22,041
|
29,434
|
43,273
|
73,177
|
89,187
| ||||||
| Net income from continuing operations | 57,500 | 52,762 | 110,983 | 102,308 | 209,593 | 215,973 | ||||||
| Net (loss) from discontinued operations | - | (845) | - | (1,744) | (705) | (3,698) | ||||||
| Gain (loss) on disposal
of discontinued operations, net of tax
|
-
|
-
|
-
|
590
|
(12,919)
|
(15,501)
| ||||||
| Net income
|
$ 57,500
|
$ 51,917
|
$ 110,983
|
$ 101,154
|
$ 195,969
|
$ 196,774
| ||||||
| Average common shares outstanding during | ||||||||||||
| the period (thousands) | 125,342 | 132,042 | 125,842 | 132,005 | 128,129 | 131,917 | ||||||
| Earnings per average common share outstanding: | ||||||||||||
| From continuing operations -- basic | $ 0.46 | $ 0.40 | $ 0.88 | $ 0.78 | $ 1.64 | $ 1.64 | ||||||
| From discontinued
operations -- basic
|
-
|
(0.01)
|
-
|
(0.01)
|
(0.11)
|
(0.15)
| ||||||
| 0000
|
$ 0.46
|
$ 0.39
|
$ 0.88
|
$ 0.77
|
$ 1.53
|
$ 1.49
| ||||||
| From continuing operations -- diluted | $ 0.46 | $ 0.40 | $ 0.88 | $ 0.78 | $ 1.64 | $ 1.63 | ||||||
| From discontinued
operations -- diluted
|
-
|
(0.01)
|
-
|
(0.01)
|
(0.11)
|
(0.14)
| ||||||
| 0000
|
$ 0.46
|
$ 0.39
|
$ 0.88
|
$ 0.77
|
$ 1.53
|
$ 1.49
| ||||||