NV Energy Reports Financial Results for 2011

LAS VEGAS, Feb. 21, 2012 /PRNewswire/ -- NV Energy, Inc. (NYSE: NVE) today announced financial results for the three and 12 months ended December 31, 2011.

(Logo:  http://photos.prnewswire.com/prnh/20100825/LA55163LOGO)




NV Energy, Inc.




Consolidated Results




Periods Ended December 31,



















Net Income (Loss)











($ in millions)



EPS (diluted)




2011


2010


2011


2010



Three Months

$

(25.2)


$

14.2


$

(0.11)


$

0.06



12 Months

$

163.4


$

227.0


$

0.69


$

0.96





"Important considerations impacting our fourth quarter earnings included completion of the Harry Allen plant, which is now in rates, a number of accounting adjustments, and the timing of power plant outages. For the year 2011, the Harry Allen plant and accounting adjustments were the most significant drivers of earnings," said Michael Yackira, president and chief executive officer of NV Energy, Inc.  "Cost control will remain a top priority for our Company this year, as we transition to a period of reduced regulatory risk."

Results for the three months ended December 31, 2011 were adversely affected by regulatory adjustments and reserves totaling $20.9 million (pre-tax), primarily related to a December 2011 rate decision by the Public Utilities Commission of Nevada.

Earnings for the 12 months ended December 31, 2010 benefitted from NV Energy's California operations, which were sold effective January 1, 2011, and a $7.6 million pre-tax gain on a May 2010 asset sale as previously disclosed.

Webcast Scheduled for 7 a.m. PST today, Tuesday, February 21, 2012

Senior management of NV Energy will review the company's 2011 financial results and other matters during a conference call and live webcast today, Tuesday, February 21, at 7 a.m. Pacific Standard Time.

The webcast will be accessible on the NV Energy website at www.nvenergy.com. A taped replay will remain on the company's website for approximately 30 days.  To listen to the replay by telephone, call (800) 475-6701. International callers should dial (320) 365-3844. Use the conference call access code 234001.

Headquartered in Las Vegas, NV Energy, Inc. is a holding company whose principal subsidiaries, Nevada Power Company and Sierra Pacific Power Company, are doing business as NV Energy. Serving a combined 45,592 square-mile service territory, NV Energy provides a wide range of energy services and products to approximately 2.4 million citizens of Nevada and nearly 40 million tourists annually.

This press release may contain forward-looking statements regarding the future performance of NV Energy, Inc. and its subsidiaries, Nevada Power Company and Sierra Pacific Power Company both d/b/a NV Energy, within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to a variety of risks and uncertainties that could cause actual results to differ materially from current expectations. These risks and uncertainties include, but are not limited to, NV Energy Inc.'s ability to maintain access to the capital markets, NV Energy Inc.'s ability to receive dividends from its subsidiaries, the financial performance of NV Energy Inc.'s subsidiaries, particularly Nevada Power Company and Sierra Pacific Power Company both d/b/a NV Energy, and the discretion of NV Energy Inc.'s Board of Directors with respect to the payment of future dividends based on its periodic review of factors that ordinarily affect dividend policy, such as current and prospective financial condition, earnings and liquidity, prospective business conditions, regulatory factors, and dividend restrictions in NV Energy Inc.'s and its subsidiaries' financing agreements. For Nevada Power Company and Sierra Pacific Power Company both d/b/a NV Energy, these risks and uncertainties include, but are not limited to, future economic conditions both nationally and regionally, changes in the rate of industrial, commercial and residential growth in their service territories, their ability to procure sufficient renewable energy sources in each compliance year to satisfy the Nevada Renewable Energy Portfolio Standard, changes in environmental laws and regulations, their ability to maintain access to the capital markets for general corporate purposes and to finance construction projects, employee workforce factors, unseasonable weather, drought, wildfire and other natural phenomena, explosions, fires, accidents, mechanical breakdowns that may occur while operating and maintaining an electric and natural gas system,  their ability to purchase sufficient fuel, natural gas and power to meet their power demands and natural gas demands for Sierra Pacific Power Company d/b/a NV Energy, financial market conditions, and unfavorable rulings in their pending and future regulatory filings. Additional cautionary statements regarding other risk factors that could have an effect on the future performance of NV Energy, Inc., Nevada Power Company and Sierra Pacific Power Company both d/b/a NV Energy are contained in their quarterly reports on Form 10-Q for the quarters ended March 31, 2011, June 30, 2011, and September 30, 2011 and Annual Report on Form 10-K for the year ended December 31, 2010, each filed with the Securities and Exchange Commission. NV Energy Inc., Nevada Power Company and Sierra Pacific Power Company both d/b/a NV Energy undertake no obligation to release publicly the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.


NV ENERGY, INC.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(Dollars in Thousands, Except Share Amounts)
















Three Months Ended


Year Ended



December 31,


December 31,



2011


2010


2011


2010














OPERATING REVENUES

$

609,597


$

655,011


$

2,943,307


$

3,280,222














OPERATING EXPENSES:













Fuel for power generation


160,665



170,970



680,585



821,484


Purchased power


115,202



126,343



633,874



648,881


Gas purchased for resale


37,402



36,166



125,155



137,702


Deferred energy


(39,655)



6,553



(83,333)



113,107


Energy efficiency program costs


20,489



-



43,537



-


Other operating expenses


102,997



93,486



411,115



414,241


Maintenance


29,990



18,852



103,307



104,567


Depreciation and amortization


91,492



83,992



357,937



333,059


Taxes other than income


14,331



15,214



60,465



62,746

Total Operating Expenses


532,913



551,576



2,332,642



2,635,787

OPERATING INCOME


76,684



103,435



610,665



644,435














OTHER INCOME (EXPENSE):













Interest expense (net of AFUDC-debt: ($1,653), $6,006, $8,718 and













$23,355)


(89,992)



(91,385)



(328,710)



(333,010)


Interest income (expense) on regulatory items


(4,181)



(3,764)



(16,321)



(12,517)


AFUDC-equity


(1,981)



7,197



10,873



28,112


Other income


7,822



6,317



22,764



36,841


Other expense


(25,324)



(6,075)



(48,924)



(23,113)

Total Other Income (Expense)


(113,656)



(87,710)



(360,318)



(303,687)

Income (Loss) Before Income Tax Expense


(36,972)



15,725



250,347



340,748














Income tax expense (benefit)


(11,724)



1,512



86,915



113,764














NET INCOME (LOSS)


(25,248)



14,213



163,432



226,984














Other comprehensive income (loss):












Change in compensation retirement benefits liability and amortization













(Net of taxes $1,504, $268, $202 and $217)


(2,775)



(497)



(357)



(403)

Change in market value of risk management assets and liabilities













(Net of taxes $369 in 2011)

$

(686)


$

-


$

(686)


$

-

OTHER COMPREHENSIVE INCOME (LOSS)


(3,461)



(497)



(1,043)



(403)














COMPREHENSIVE INCOME (LOSS)

$

(28,709)


$

13,716


$

162,389


$

226,581














Amount per share basic and diluted













Net income (loss) per share - basic


(0.11)



0.06



0.69



0.97


Net income (loss) per share - diluted


(0.11)



0.06



0.69



0.96














Weighted Average Shares of Common Stock Outstanding - basic


235,999,750



235,217,903



235,847,596



235,048,347

Weighted Average Shares of Common Stock Outstanding - diluted


238,365,115



236,767,210



237,767,071



236,294,812

Dividends Declared Per Share of Common Stock


0.13



0.12



0.49



0.45


















NV ENERGY, INC.

CONSOLIDATED OPERATING STATISTICS AND FINANCIAL HIGHLIGHTS

(unaudited)







































ELECTRIC SALES - MWh's



(in thousands)








Three Months Ended December 31,


Year Ended December 31,











Change from






Change from







2011


2010


Prior Year


2011


2010


Prior Year






















Residential


2,060


2,142


(3.8)%


10,754


11,149


(3.5)%



Commercial


1,733


1,741


(0.5)%


7,205


7,357


(2.1)%



Industrial


2,538


2,511


1.1%


10,218


10,217


-




TOTAL RETAIL


6,331


6,394


(1.0)%


28,177


28,723


(1.9)%







ELECTRIC SALES - MWh's (EXCLUDING CALIFORNIA)*


(in thousands)







Three Months Ended December 31,


Year Ended December 31,











Change


Average






Change


Average











From


Change in






From


Change in







2011


2010


Prior Year


Customers


2011


2010


Prior Year


Customers




























Residential


2,060


2,071


(0.5)%


0.9%


10,754


10,872


(1.1)%


0.9%



Commercial


1,733


1,703


1.8%


0.7%


7,205


7,201


0.1%


0.6%



Industrial


2,538


2,481


2.3%


(2.4)%


10,218


10,101


1.2%


(1.9)%




TOTA RETAIL


6,331


6,255


1.2%


0.9%


28,177


28,174


-


0.9%





























* Represents results for 2011 and 2010 excluding amounts related to the California operations which were sold on January 1, 2011.







GAS SALES - Dth


(in thousands)





Three Months Ended December 31,


Year Ended December 31,









Change from






Change from





2011


2010


Prior Year


2011


2010


Prior Year




















TOTAL RETAIL


5,188


4,631


12.0%


15,781


14,739


7.1%





ELECTRIC SOURCES - MWh's


(in thousands)



















Three Months Ended December 31,


Year Ended December 31,









Change from






Change from





2011


2010


Prior Year


2011


2010


Prior Year



Generated


5,011


4,833


3.7%


19,488


20,526


(5.1)%



Purchased


1,864


2,007


(7.1)%


10,945


9,861


11.0%



TOTAL


6,875


6,840


0.5%


30,433


30,387


0.2%






DEGREE DAYS






















Three Months Ended December 31,


Year Ended December 31,







Change from








Change from





2011


2010


Prior Year


Normal


2011


2010


Prior Year


Normal

SOUTH



















Heating


909


725


25.4%


856


2,040


1,895


7.7%


1,991

Cooling


211


230


(8.3)%


185


3,540


3,648


(3.0)%


3,540




















NORTH



















Heating


1,911


1,795


6.5%


1,934


5,112


4,868


5.0%


4,960

Cooling


4


18


(77.8)%


4


964


922


4.6%


864




CAPITAL STRUCTURE








(dollars in thousands)
















December 31, 2011


December 31, 2010


















Current maturities of long-term debt

$

139,985


1.6%


$

355,929


4.1%



Long-term debt


5,008,931


58.6%



4,924,109


57.1%



Total debt

$

5,148,916


60.2%


$

5,280,038


61.2%



Total shareholders' equity


3,406,079


39.8%



3,350,818


38.8%



Total capitalization (including current maturities of long-term debt)

$

8,554,995


100.0%


$

8,630,856


100.0%





AVAILABLE LIQUIDITY AS OF DECEMBER 31, 2011


(dollars in millions)





NVE


NPC


SPPC



Cash and Cash Equivalents

$

20.1


$

65.9


$

55.2



Balance available on Revolving Credit Facilities


N/A



578.8



237.5





$

20.1


$

644.7


$

292.7






NEVADA POWER COMPANY

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(Dollars in Thousands)





























Three Months Ended


Year Ended



December 31,


December 31,



2011


2010


2011


2010














OPERATING REVENUES

$

391,513


$

416,233


$

2,054,393


$

2,252,377














OPERATING EXPENSES:













Fuel for power generation


119,697



119,137



498,487



588,419


Purchased power


77,519



92,963



477,226



505,239


Deferred energy


(15,026)



13,124



(16,300)



94,843


Energy efficiency program costs


16,841



-



37,292



-


Other operating expenses


65,087



56,762



260,127



260,535


Maintenance


19,198



12,814



64,320



71,759


Depreciation and amortization


65,393



56,922



252,191



226,252


Taxes other than income


9,045



9,061



37,254



37,918

Total Operating Expenses


357,754



360,783



1,610,597



1,784,965

OPERATING INCOME


33,759



55,450



443,796



467,412














OTHER INCOME (EXPENSE):













Interest expense (net of AFUDC-debt: ($2,192), $5,680, $6,770













and $21,443)


(58,917)



(52,871)



(221,953)



(214,367)


Interest income (expense) on regulatory items


(2,661)



(1,204)



(8,572)



(3,169)


AFUDC-equity


(2,681)



6,674



8,298



25,229


Other income


5,476



6,457



14,774



15,541


Other expense


(17,785)



(3,608)



(33,020)



(12,946)

Total Other Income (Expense)


(76,568)



(44,552)



(240,473)



(189,712)

Income (Loss) Before Income Tax Expense


(42,809)



10,898



203,323



277,700














Income tax expense (benefit)


(13,744)



1,341



70,737



91,757














NET INCOME (LOSS)


(29,065)



9,557



132,586



185,943














Other comprehensive income (loss):












Change in compensation retirement benefits liability and amortization













(Net of taxes $683, $232, $129 and $205)


(1,270)



(430)



(241)



(380)














COMPREHENSIVE INCOME (LOSS)

$

(30,335)


$

9,127


$

132,345


$

185,563





NEVADA POWER COMPANY

OPERATING STATISTICS AND FINANCIAL HIGHLIGHTS

(unaudited)



















































ELECTRIC SALES - MWh's

(in thousands)






Three Months Ended December 31,


Year Ended December 31,











Change


Average






Change


Average











from


Change in






from


Change in







2011


2010


Prior Year


Customers


2011


2010


Prior Year


Customers




























Residential


1,502


1,522


(1.3)%


1.1%


8,523


8,684


(1.9)%


1.1%



Commercial


1,046


1,018


2.8%


0.4%


4,353


4,340


0.3%


0.4%



Industrial


1,860


1,848


0.6%


(2.4)%


7,653


7,618


0.5%


(1.9)%




TOTAL RETAIL


4,408


4,388


0.5%


1.0%


20,529


20,642


(0.5)%


1.0%





ELECTRIC SOURCES - MWh's


(in thousands)



















Three Months Ended December 31,


Year Ended December 31,









Change from






Change from





2011


2010


Prior Year


2011


2010


Prior Year



Generated


3,896


3,537


10.1%


15,034


15,405


(2.4)%



Purchased


756


1,140


(33.7)%


6,577


6,351


3.6%



TOTAL


4,652


4,677


(0.5)%


21,611


21,756


(0.7)%





CAPITAL STRUCTURE








(dollars in thousands)
















December 31, 2011


December 31, 2010


















Current maturities of long-term debt

$

139,985


2.2%


$

355,929


5.6%



Long-term debt


3,319,605


52.6%



3,221,833


50.8%



Total debt

$

3,459,590


54.8%


$

3,577,762


56.4%



Total shareholder's equity


2,848,977


45.2%



2,761,632


43.6%



Total capitalization (including current maturities of long-term debt)

$

6,308,567


100.0%


$

6,339,394


100.0%






SIERRA PACIFIC POWER COMPANY

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(Dollars in Thousands)





























Three Months Ended


Year Ended



December 31,


December 31,



2011


2010


2011


2010

OPERATING REVENUES:













Electric

$

170,955


$

187,542


$

716,417


$

836,879


Gas


47,125



51,232



172,482



190,943

Total Operating Revenues


218,080



238,774



888,899



1,027,822














OPERATING EXPENSES:













Fuel for power generation


40,968



51,833



182,098



233,065


Purchased power


37,683



33,380



156,648



143,642


Gas purchased for resale


37,402



36,166



125,155



137,702


Deferral of energy - electric - net


(19,521)



(8,714)



(65,445)



8,475


Deferral of energy - gas - net


(5,108)



2,143



(1,588)



9,789


Energy efficiency program costs


3,648



-



6,245



-


Other operating expenses


35,864



35,575



146,699



149,946


Maintenance


10,792



6,038



38,987



32,808


Depreciation and amortization


26,099



27,070



105,746



106,807


Taxes other than income


5,246



6,099



22,921



24,593

Total Operating Expenses


173,073



189,590



717,466



846,827

OPERATING INCOME


45,007



49,184



171,433



180,995














OTHER INCOME (EXPENSE):













Interest expense (net of AFUDC-debt: $539, $326, $1,948













and $1,912)


(16,854)



(17,373)



(67,435)



(68,514)


Interest income (expense) on regulatory items


(1,520)



(2,560)



(7,749)



(9,348)


AFUDC-equity


700



523



2,575



2,883


Other income


2,206



2,472



6,883



16,748


Other expense


(7,221)



(2,430)



(14,624)



(9,985)

Total Other Income (Expense)


(22,689)



(19,368)



(80,350)



(68,216)

Income Before Income Tax Expense


22,318



29,816



91,083



112,779














Income tax expense


7,856



10,338



31,197



40,404














NET INCOME


14,462



19,478



59,886



72,375














Other comprehensive income (loss):












Change in compensation retirement benefits liability and amortization













(Net of taxes $556, $130, ($645) and $116)


(995)



(242)



1,236



(215)














COMPREHENSIVE INCOME

$

13,467


$

19,236


$

61,122


$

72,160





SIERRA PACIFIC POWER COMPANY

OPERATING STATISTICS AND FINANCIAL HIGHLIGHTS

(unaudited)







































ELECTRIC SALES - MWh's







(in thousands)





















Three Months Ended December 31,


Year Ended December 31,











Change from






Change from







2011


2010


Prior Year


2011


2010


Prior Year






















Residential


558


620


(10.0)%


2,231


2,465


(9.5)%



Commercial


687


723


(5.0)%


2,852


3,017


(5.5)%



Industrial


678


663


2.3%


2,565


2,599


(1.3)%




TOTAL RETAIL


1,923


2,006


(4.1)%


7,648


8,081


(5.4)%






ELECTRIC SALES - MWh's (EXCLUDING CALIFORNIA)*





(in thousands)



























Three Months Ended December 31,


Year Ended December 31,











Change


Average






Change


Average









From


Change in




From


Change in







2011


2010


Prior Year


Customers


2011


2010


Prior Year


Customers




























Residential


558


549


1.6%


0.6%


2,231


2,188


2.0%


0.4%



Commercial


687


685


0.3%


1.4%


2,852


2,861


(0.3)%


0.9%



Industrial


678


633


7.1%


(1.8)%


2,565


2,483


3.3%


(1.8)%




TOTAL RETAIL


1,923


1,867


3.0%


0.7%


7,648


7,532


1.5%


0.4%





























* Represents results for 2011 and 2010 excluding amounts related to the California operations which were sold on January 1, 2011.




GAS SALES - Dth







(in thousands)



















Three Months Ended December 31,


Year Ended December 31,









Change from






Change from





2011


2010


Prior Year


2011


2010


Prior Year



















TOTAL RETAIL


5,188


4,631


12.0%


15,781


14,739


7.1%





ELECTRIC SOURCES - MWh's





(in thousands)



















Three Months Ended December 31,


Year Ended December 31,









Change from






Change from





2011


2010


Prior Year


2011


2010


Prior Year



Generated


1,115


1,296


(14.0)%


4,454


5,121


(13.0)%



Purchased


1,108


867


27.8%


4,368


3,510


24.4%



TOTAL


2,223


2,163


2.8%


8,822


8,631


2.2%





CAPITAL STRUCTURE








(dollars in thousands)
















December 31, 2011


December 31, 2010


















Long-term debt

$

1,179,326


54.8%


$

1,195,775


55.1%



Total shareholder's equity


974,542


45.2%



973,420


44.9%



Total capitalization

$

2,153,868


100.0%


$

2,169,195


100.0%





Gross margin is presented by Nevada Power Company and Sierra Pacific Power Company both d/b/a NV Energy in order to provide information that management believes aids the reader in determining how profitable the electric and gas business is at the most fundamental level. Gross margin, which is a "non-GAAP financial measure" as defined in accordance with SEC rules, provides a measure of income available to support the other operating expenses of the business and is utilized by management in its analysis of its business.

Nevada Power Company and Sierra Pacific Power Company both d/b/a NV Energy believe presenting gross margin allows the reader to assess the impact of regulatory treatment and their overall regulatory environment on a consistent basis. Gross margin, as a percentage of revenue, is primarily impacted by the fluctuations in electric and natural gas supply costs versus the fixed rates collected from customers. While these fluctuating costs impact gross margin as a percentage of revenue, they only impact gross margin amounts if the costs cannot be passed through to customers. Gross margin, which Nevada Power Company and Sierra Pacific Power Company both d/b/a NV Energy calculate as operating revenues less energy costs and energy efficiency program costs, provides a measure of income available to support the other operating expenses. Gross margin changes are based primarily on general base rate adjustments (which are required to be filed by statute every three years). Reconciliations between GAAP operating income and gross margin are provided in tables herein. These non-GAAP measures should not be considered as substitutes for the GAAP measures.


NV Energy, Inc.

Consolidated Gross Margin

(dollars in thousands)






















Three Months Ended December 31,


Year Ended December 31,









Change from








Change from



2011


2010


Prior Year %


2011


2010


Prior Year %

Operating Revenues:

$

609,597


$

655,011


(6.9)%


$

2,943,307


$

3,280,222


(10.3)%




















Energy Costs:



















Fuel for power generation


160,665



170,970


(6.0)%



680,585



821,484


(17.2)%


Purchased power


115,202



126,343


(8.8)%



633,874



648,881


(2.3)%


Gas purchased for resale


37,402



36,166


3.4%



125,155



137,702


(9.1)%


Deferred energy


(39,655)



6,553


(705.1)%



(83,333)



113,107


(173.7)%

Energy efficiency program costs


20,489



-


N/A



43,537



-


N/A




294,103



340,032






1,399,818



1,721,174























Gross Margin

$

315,494


$

314,979


0.2%


$

1,543,489


$

1,559,048


(1.0)%




















Other operating expenses


102,997



93,486






411,115



414,241




Maintenance


29,990



18,852






103,307



104,567




Depreciation and amortization


91,492



83,992






357,937



333,059




Taxes other than income


14,331



15,214






60,465



62,746























Operating Income

$

76,684


$

103,435


(25.9)%


$

610,665


$

644,435


(5.2)%





Nevada Power Company

Gross Margin

(dollars in thousands)






















Three Months Ended December 31,


Year Ended December 31,









Change from








Change from



2011


2010


Prior Year %


2011


2010


Prior Year %

Operating Revenues:

$

391,513


$

416,233


(5.9)%


$

2,054,393


$

2,252,377


(8.8)%




















Energy Costs:



















Fuel for power generation


119,697



119,137


0.5%



498,487



588,419


(15.3)%


Purchased power


77,519



92,963


(16.6)%



477,226



505,239


(5.5)%


Deferred energy


(15,026)



13,124


(214.5)%



(16,300)



94,843


(117.2)%

Energy efficiency program costs


16,841



-


N/A



37,292



-


N/A




199,031



225,224






996,705



1,188,501























Gross Margin

$

192,482


$

191,009


0.8%


$

1,057,688


$

1,063,876


(0.6)%




















Other operating expenses


65,087



56,762






260,127



260,535




Maintenance


19,198



12,814






64,320



71,759




Depreciation and amortization


65,393



56,922






252,191



226,252




Taxes other than income


9,045



9,061






37,254



37,918























Operating Income

$

33,759


$

55,450


(39.1)%


$

443,796


$

467,412


(5.1)%





Sierra Pacific Power Company

Gross Margin

(dollars in thousands)






















Three Months Ended December 31,


Year Ended December 31,









Change from








Change from



2011


2010


Prior Year %


2011


2010


Prior Year %

Operating Revenues:



















Electric

$

170,955


$

187,542


(8.8)%


$

716,417


$

836,879


(14.4)%


Gas


47,125



51,232


(8.0)%



172,482



190,943


(9.7)%




218,080



238,774


(8.7)%



888,899



1,027,822


(13.5)%




















Energy Costs:



















Fuel for power generation


40,968



51,833


(21.0)%



182,098



233,065


(21.9)%


Purchased power


37,683



33,380


12.9%



156,648



143,642


9.1%


Gas purchased for resale


37,402



36,166


3.4%



125,155



137,702


(9.1)%


Deferral of energy - electric - net


(19,521)



(8,714)


124.0%



(65,445)



8,475


(872.2)%


Deferral of energy - gas - net


(5,108)



2,143


(338.4)%



(1,588)



9,789


(116.2)%

Energy efficiency program costs


3,648



-


N/A



6,245



-


N/A



$

95,072


$

114,808


(17.2)%


$

403,113


$

532,673


(24.3)%




















Gross Margin by Segment:



















Electric


108,177



111,043


(2.6)%



436,871



451,697


(3.3)%


Gas


14,831



12,923


14.8%



48,915



43,452


12.6%

Gross Margin

$

123,008


$

123,966


(0.8)%


$

485,786


$

495,149


(1.9)%




















Other operating expenses


35,864



35,575






146,699



149,946




Maintenance


10,792



6,038






38,987



32,808




Depreciation and amortization


26,099



27,070






105,746



106,807




Taxes other than income


5,246



6,099






22,921



24,593























Operating Income

$

45,007


$

49,184


(8.5)%


$

171,433


$

180,995


(5.3)%




SOURCE NV Energy, Inc.



RELATED LINKS
http://www.nvenergy.com

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