| | | |
Price to
Public(1) |
| |
Underwriting
Discount |
| |
Proceeds,
Before Expenses, to Us(1) |
| |||||||||
|
Per 5.90% Senior Note, Series due April 1, 2056
|
| | | | 99.083% | | | | | | 0.875% | | | | | | 98.208% | | |
|
Total
|
| | | $ | 346,790,500 | | | | | $ | 3,062,500 | | | | | $ | 343,728,000 | | |
| | Barclays | | |
BofA Securities
|
| |
PNC Capital Markets LLC
|
| | Scotiabank | |
| | | |
Page
|
| |||
| | | | | S-iii | | | |
| | | | | S-iv | | | |
| | | | | S-1 | | | |
| | | | | S-5 | | | |
| | | | | S-7 | | | |
| | | | | S-7 | | | |
| | | | | S-8 | | | |
| | | | | S-13 | | | |
| | | | | S-18 | | | |
| | | | | S-19 | | | |
| | | | | S-24 | | | |
| | | | | S-25 | | | |
| | | | | S-25 | | | |
| | | | | S-26 | | | |
| | | | | | 1 | | | |
| | | | | | 1 | | | |
| | | | | | 2 | | | |
| | | | | | 3 | | | |
| | | | | | 3 | | | |
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| | | | | | 7 | | | |
| | | | | | 9 | | | |
| | | | | | 10 | | | |
| | | | | | 10 | | | |
| | | | | | 11 | | |
| | | |
Year Ended December 31,
|
| |||||||||||||||
| | | |
2025
|
| |
2024
|
| |
2023
|
| |||||||||
| | | |
(audited)
(in millions) |
| |||||||||||||||
| Results of Operations Data: | | | | | | | | | | | | | | | | | | | |
|
Operating revenues
|
| | | $ | 3,260.1 | | | | | $ | 2,985.3 | | | | | $ | 2,674.3 | | |
|
Fuel, purchased power and direct transmission expense
|
| | | | 1,259.9 | | | | | | 1,076.4 | | | | | | 911.7 | | |
|
Operating expenses
|
| | | | 1,200.2 | | | | | | 1,163.3 | | | | | | 1,111.0 | | |
|
Operating income
|
| | | | 800.0 | | | | | | 745.6 | | | | | | 651.6 | | |
|
Allowance for equity funds used during construction
|
| | | | 26.0 | | | | | | 25.5 | | | | | | 19.4 | | |
|
Other net periodic benefit income (expense)
|
| | | | (10.3) | | | | | | (1.6) | | | | | | 6.5 | | |
|
Other income
|
| | | | 17.3 | | | | | | 12.5 | | | | | | 23.9 | | |
|
Other expense
|
| | | | (2.6) | | | | | | (4.5) | | | | | | (6.3) | | |
|
Interest expense
|
| | | | (225.5) | | | | | | (214.4) | | | | | | (199.9) | | |
|
Income tax expense
|
| | | | (105.1) | | | | | | (93.2) | | | | | | (68.8) | | |
|
Net income
|
| | | $ | 499.8 | | | | | $ | 469.9 | | | | | $ | 426.4 | | |
| | | |
Year Ended December 31,
|
| |||||||||
| | | |
2025
|
| |
2024
|
| ||||||
| | | |
(audited)
(in millions) |
| |||||||||
|
Balance Sheet Data
|
| | | | | | | | | | | | |
|
Property, plant and equipment, net
|
| | | $ | 12,724.3 | | | | | $ | 12,080.5 | | |
|
Total assets
|
| | | $ | 14,277.5 | | | | | $ | 13,581.3 | | |
|
Long-term debt (including long-term debt due within one year)
|
| | | $ | 4,961.7 | | | | | $ | 4,646.7 | | |
|
Total stockholder’s equity
|
| | | $ | 5,740.2 | | | | | $ | 5,326.4 | | |
| | | |
As of December 31, 2025
(audited) |
| |||||||||
| | | |
Millions of
Dollars |
| |
Percent of
Capitalization |
| ||||||
|
Long-term debt (including current maturities)
|
| | | $ | 4,961.7 | | | | | | 46.4% | | |
|
Common stockholder’s equity and retained earnings
|
| | | | 5,740.2 | | | | | | 53.6% | | |
|
Total capitalization
|
| | | $ | 10,701.9 | | | | | | 100.0% | | |
|
Underwriter
|
| |
Principal
Amount of Senior Notes |
| |||
|
Barclays Capital Inc.
|
| | | $ | 80,500,000 | | |
|
BofA Securities, Inc.
|
| | | $ | 70,000,000 | | |
|
PNC Capital Markets LLC
|
| | | $ | 70,000,000 | | |
|
Scotia Capital (USA) Inc.
|
| | | $ | 70,000,000 | | |
|
U.S. Bancorp Investments, Inc.
|
| | | $ | 52,500,000 | | |
|
BOK Financial Securities, Inc.
|
| | | $ | 7,000,000 | | |
|
Total
|
| | | $ | 350,000,000 | | |
| | | |
Per Senior Note
|
| |
Total
|
| ||||||
|
5.90% Senior Notes, Series due April 1, 2056
|
| | | | 0.875% | | | | | $ | 3,062,500 | | |
| | | | | | 1 | | | |
| | | | | | 1 | | | |
| | | | | | 2 | | | |
| | | | | | 3 | | | |
| | | | | | 3 | | | |
| | | | | | 3 | | | |
| | | | | | 7 | | | |
| | | | | | 9 | | | |
| | | | | | 10 | | | |
| | | | | | 10 | | | |
| | | | | | 11 | | |
|
Calculation of Filing Fee Tables |
|||
|
|
|||
|
|
|||
| Table 1: Newly Registered and Carry Forward Securities |
|---|
|
Security Type |
Security Class Title |
Fee Calculation or Carry Forward Rule |
Amount Registered |
Proposed Maximum Offering Price Per Unit |
Maximum Aggregate Offering Price |
Fee Rate |
Amount of Registration Fee |
Carry Forward Form Type |
Carry Forward File Number |
Carry Forward Initial Effective Date |
Filing Fee Previously Paid in Connection with Unsold Securities to be Carried Forward |
||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Newly Registered Securities | |||||||||||||
|
|
1 |
|
|
|
$
|
|
$
|
||||||
| Fees Previously Paid | |||||||||||||
| Carry Forward Securities | |||||||||||||
| Carry Forward Securities | |||||||||||||
|
Total Offering Amounts: |
$
|
$
|
|||||||||||
|
Total Fees Previously Paid: |
$
|
||||||||||||
|
Total Fee Offsets: |
$
|
||||||||||||
|
Net Fee Due: |
$
|
||||||||||||
|
Offering Note |
|
1 |
|
||||||
|
|
|||||||
| Table 2: Fee Offset Claims and Sources |
|---|
| Registrant or Filer Name | Form or Filing Type | File Number | Initial Filing Date | Filing Date | Fee Offset Claimed | Security Type Associated with Fee Offset Claimed | Security Title Associated with Fee Offset Claimed | Unsold Securities Associated with Fee Offset Claimed | Unsold Aggregate Offering Amount Associated with Fee Offset Claimed | Fee Paid with Fee Offset Source | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Rules 457(b) and 0-11(a)(2) | |||||||||||||
| Fee Offset Claims | |||||||||||||
| Fee Offset Sources | |||||||||||||
| Rule 457(p) | |||||||||||||
| Fee Offset Claims | |||||||||||||
| Fee Offset Sources | |||||||||||||
| Table 3: Combined Prospectuses |
|---|
|
Security Type |
Security Class Title |
Amount of Securities Previously Registered |
Maximum Aggregate Offering Price of Securities Previously Registered |
Form Type |
File Number |
Initial Effective Date |
|
|---|---|---|---|---|---|---|---|
| Narrative Disclosure |
|---|
|
The maximum aggregate offering price of the securities to which the prospectus relates is $ |
|
|