| | ||||||||||||||||||||||||||||||||
Title of Each Class of Securities to be Registered
|
| | |
Amount to
Be Registered |
| | |
Proposed
Maximum Offering Price Per Unit |
| | |
Proposed
Maximum Aggregate Offering Price |
| | |
Amount of
Registration Fee |
| ||||||||||||||||
First Mortgage Bonds, 4.15% Series due March 15, 2043
|
| | | | $ | 200,000,000 | | | | | | | 104.211% | | | | | | $ | 208,422,000(1) | | | | | | $ | 24,218.64(2) | | | ||||
|
| | |
Price to Public(1)
|
| |
Underwriting
Discount |
| |
Proceeds, before
expenses, to us(1) |
| |||||||||
Per bond
|
| | | | 104.211% | | | | | | 0.875% | | | | | | 103.336% | | |
Total
|
| | | $ | 208,422,000 | | | | | $ | 1,750,000 | | | | | $ | 206,672,000 | | |
| BNY Mellon Capital Markets, LLC | | |
Morgan Stanley
|
| |
RBS
|
|
|
Prospectus Supplement
|
| |
Page
|
| |||
| | | | | ii | | | |
| | | | | iv | | | |
| | | | | S-1 | | | |
| | | | | S-5 | | | |
| | | | | S-6 | | | |
| | | | | S-6 | | | |
| | | | | S-7 | | | |
| | | | | S-8 | | | |
| | | | | S-14 | | | |
| | | | | S-16 | | | |
| | | | | S-17 | | | |
| | | | | S-17 | | | |
| | | | | S-17 | | |
Year Ended December 31,
|
| ||||||||||||||||||||||||
2014
|
| |
2013
|
| |
2012
|
| |
2011
|
| |
2010
|
| ||||||||||||
3.05
|
| | | | 2.89 | | | | | | 2.54 | | | | | | 2.22 | | | | | | 2.31 | | |
| | |
Year Ended December 31,
|
||||||||||||||||||||||||||
| | |
2014
|
| |
2013
|
| |
2012
|
| |
2011
|
| |
2010
|
||||||||||||||
Ratio of Earnings to Fixed Charges
|
| | | | 3.05 | | | | | | 2.89 | | | | | | 2.54 | | | | | | 2.22 | | | | | | 2.31 |
| | |
As of and for the
Year Ended December 31, |
|||||||||||||||||
| | |
2014
|
| |
2013
|
| |
2012
|
|||||||||||
| | |
(in millions)
|
|||||||||||||||||
Income Statement Data | | | | | ||||||||||||||||
Operating revenue
|
| | | $ | 2,101 | | | | | $ | 2,026 | | | | | $ | 1,948 | |||
Operating expenses
|
| | | | 1,753 | | | | | | 1,705 | | | | | | 1,691 | |||
Operating income
|
| | | | 348 | | | | | | 321 | | | | | | 257 | |||
Net income
|
| | | | 171 | | | | | | 150 | | | | | | 126 | |||
Balance Sheet Data | | | | | ||||||||||||||||
Cash and cash equivalents
|
| | | $ | 6 | | | | | $ | 9 | | | | | $ | 9 | |||
Total assets
|
| | | $ | 6,613 | | | | | $ | 6,171 | | | | | $ | 5,638 | |||
Capitalization | | | | | ||||||||||||||||
Short-term debt
|
| | | $ | 104 | | | | | $ | 151 | | | | | $ | 231 | |||
Current portion of long-term debt and project funding
|
| | | | 12 | | | | | | 175 | | | | | | 200 | |||
Capital lease obligations due within one year
|
| | | | 10 | | | | | | 9 | | | | | | 8 | |||
Long-term debt
|
| | | | 2,124 | | | | | | 1,724 | | | | | | 1,501 | |||
Capital lease obligations
|
| | | | 50 | | | | | | 60 | | | | | | 70 | |||
Total equity
|
| | | | 2,087 | | | | | | 1,922 | | | | | | 1,643 | |||
Total Capitalization
|
| | | $ | 4,387 | | | | | $ | 4,041 | | | | | $ | 3,653 | |||
|
Underwriter
|
| |
Principal Amount
|
| ||||
BNY Mellon Capital Markets, LLC
|
| | | $ | 60,000,000 | | | |
Morgan Stanley & Co. LLC
|
| | | | 60,000,000 | | | |
RBS Securities Inc.
|
| | | | 60,000,000 | | | |
Mischler Financial Group, Inc.
|
| | | | 20,000,000 | | | |
Total
|
| | | $ | 200,000,000 | | | |
|
| | |
Page
|
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| | | | ii | | | |
| | | | ii | | | |
| | | | 1 | | | |
| | | | 2 | | | |
| | | | 2 | | | |
| | | | 2 | | | |
| | | | 40 | | | |
| | | | 40 | | | |
| | | | 41 | | | |
| | | | 41 | | |
| | |
Six Months Ended
June 30, |
| |
Year Ended
December 31, |
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| | |
2013
|
| |
2012
|
| |
2011
|
| |
2010
|
| |
2009
|
| |
2008
|
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Ratio of Earnings to Fixed Charges
|
| | | | 2.37 | | | | | | 2.54 | | | | | | 2.22 | | | | | | 2.31 | | | | | | 2.60 | | | | | | 2.70 |