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NV ENERGY, INC.

SIC 4931 · Electric & Other Services Combined
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NV ENERGY, INC.

CIK:0000741508|SEC Filings
v2.4.0.8
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $)
In Thousands, except Share data, unless otherwise specified
 3 Months Ended 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
OPERATING REVENUES:        
OPERATING REVENUES $ 1,013,151 $ 1,026,488 $ 2,329,011 $ 2,378,606
Operating Expenses        
Fuel for power generation 217,954 171,316 554,181 400,936
Purchased power 205,970 205,686 498,141 486,894
Gas purchased for resale 7,383 5,382 62,277 46,491
Deferred energy (55,270) (29,036) (221,022) (30,285)
Energy efficiency program costs 16,042 32,584 38,486 76,609
Regulatory Disallowances 17,335 0 17,335 0
Merger related costs 7,857 0 21,409 0
Other operating expenses 106,068 100,108 317,538 307,080
Maintenance 17,176 19,014 66,128 76,190
Depreciation and amortization 96,801 94,512 291,687 281,690
Taxes other than income 14,214 15,682 46,536 44,457
Total Operating Expenses 651,530 615,248 1,692,696 1,690,062
OPERATING INCOME 361,621 411,240 636,315 688,544
OTHER INCOME (EXPENSE):        
Interest expense (net of AFUDC-debt) (74,438) (73,667) (221,305) (226,162)
Interest Income (Expense) on Regulatory Items (281) (2,024) (1,124) (6,203)
Public Utilities, Allowance for Funds Used During Construction, Capitalized Cost of Equity 2,591 2,415 7,730 6,666
Other Nonoperating Income 3,239 8,827 10,872 19,312
Other expense (3,829) (4,209) (12,116) (11,909)
Total Other Income (Expense) (72,718) (68,658) (215,943) (218,296)
Income Before Income Tax Expense 288,903 342,582 420,372 470,248
Income Tax Expense (Benefit) 101,669 119,412 148,430 165,466
NET INCOME 187,234 223,170 271,942 304,782
Other comprehensive income (loss):        
Change in compensation retirement benefits liability and amortization 246 155 738 464
Change in market value of risk management assets and liabilities (11) (193) 485 (668)
Unrealized net gain/(loss) on investment 98 0 33 0
OTHER COMPREHENSIVE INCOME(LOSS) 333 (38) 1,256 (204)
COMPREHENSIVE INCOME 187,567 223,132 273,198 304,578
Amount per share basic and diluted        
Net income per share - basic, in dollars per share $ 0.79 $ 0.95 $ 1.16 $ 1.29
Net income per share - diluted, in dollars per share $ 0.79 $ 0.94 $ 1.15 $ 1.28
Weighted Average Shares of Common Stock Outstanding - basic 235,578,310 235,961,402 235,421,933 235,986,874
Weighted Average Shares of Common Stock Outstanding - diluted 237,605,514 [1] 238,121,732 [1] 237,339,039 [1] 237,850,530 [1]
Dividends Declared Per Share of Common Stock $ 0.19 $ 0.17 $ 0.57 $ 0.47
Nevada Power Company
        
OPERATING REVENUES:        
OPERATING REVENUES 786,142 802,334 1,695,129 1,751,165
Operating Expenses        
Fuel for power generation 163,127 123,992 412,904 285,799
Purchased power 172,582 171,687 383,386 388,494
Deferred energy (45,381) (22,685) (154,484) (15,461)
Energy efficiency program costs 13,998 28,492 32,807 65,466
Regulatory Disallowances 11,866 0 11,866 0
Merger related costs 5,620 0 14,487 0
Other operating expenses 70,844 65,372 208,336 200,484
Maintenance 11,208 12,533 45,172 52,594
Depreciation and amortization 68,849 66,975 207,915 201,096
Taxes other than income 8,213 9,743 27,804 26,793
Total Operating Expenses 480,926 456,109 1,190,193 1,205,265
OPERATING INCOME 305,216 346,225 504,936 545,900
OTHER INCOME (EXPENSE):        
Interest expense (net of AFUDC-debt) (52,856) (51,784) (155,758) (158,791)
Interest Income (Expense) on Regulatory Items (194) (1,623) (1,177) (5,488)
Public Utilities, Allowance for Funds Used During Construction, Capitalized Cost of Equity 1,959 1,833 6,151 4,823
Other Nonoperating Income 1,948 7,096 5,330 14,197
Other expense (1,966) (2,823) (6,200) (7,162)
Total Other Income (Expense) (51,109) (47,301) (151,654) (152,421)
Income Before Income Tax Expense 254,107 298,924 353,282 393,479
Income Tax Expense (Benefit) 89,665 103,754 124,730 137,328
NET INCOME 164,442 195,170 228,552 256,151
Other comprehensive income (loss):        
Change in compensation retirement benefits liability and amortization 96 65 290 192
COMPREHENSIVE INCOME 164,538 195,235 228,842 256,343
Sierra Pacific Power Company
        
OPERATING REVENUES:        
Electric 213,463 212,073 560,392 549,886
Gas 13,543 12,077 73,480 77,543
OPERATING REVENUES 227,006 224,150 633,872 627,429
Operating Expenses        
Fuel for power generation 54,827 47,324 141,277 115,137
Purchased power 33,388 33,999 114,755 98,400
Gas purchased for resale 7,383 5,382 62,277 46,491
Deferral of energy - electric-net (7,925) (5,498) (44,223) (13,854)
Deferral of energy - gas-net (1,964) (853) (22,315) (970)
Energy efficiency program costs 2,044 4,092 5,679 11,143
Regulatory Disallowances 5,469 0 5,469 0
Merger related costs 2,008 0 5,528 0
Other operating expenses 34,394 34,128 106,455 104,214
Maintenance 5,968 6,481 20,956 23,596
Depreciation and amortization 27,952 27,537 83,772 80,594
Taxes other than income 5,944 5,894 18,414 17,382
Total Operating Expenses 169,488 158,486 498,044 482,133
OPERATING INCOME 57,518 65,664 135,828 145,296
OTHER INCOME (EXPENSE):        
Interest expense (net of AFUDC-debt) (15,122) (15,298) (46,020) (47,650)
Interest Income (Expense) on Regulatory Items (87) (401) 53 (715)
Public Utilities, Allowance for Funds Used During Construction, Capitalized Cost of Equity 632 582 1,579 1,843
Other Nonoperating Income 983 1,399 4,641 4,181
Other expense (982) (998) (3,803) (3,609)
Total Other Income (Expense) (14,576) (14,716) (43,550) (45,950)
Income Before Income Tax Expense 42,942 50,948 92,278 99,346
Income Tax Expense (Benefit) 13,691 16,521 30,347 33,596
NET INCOME 29,251 34,427 61,931 65,750
Other comprehensive income (loss):        
Change in compensation retirement benefits liability and amortization 59 42 176 127
COMPREHENSIVE INCOME $ 29,310 $ 34,469 $ 62,107 $ 65,877
[1] The denominator does not include stock equivalents for options issued under the non-qualified stock option plan due to conversion prices being higher than market prices for the periods ending September 30, 2012. If the conditions for conversion were met under this plan, 327,503 and 329,382 shares, would be included for the three and nine months ended September 30, 2012, respectively.