VECTREN CORP (VVC) [Rocket]

In millions, except per share items	Dec-31-17	Dec-31-16	Dec-31-15	Dec-31-14	Dec-31-13	Dec-31-12	Dec-31-11	Dec-31-10
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
Utility Group	1,383	1,378	1,395	1,570	1,430	1,334	1,457	1,564
Nonutility Group	1,278	1,073	1,043	1,143	1,168	1,018	1,019	735
Total revenues [+]	2,657	2,448	2,435	2,612	2,491	2,233	2,325	2,130
Regulated gas	813	772	793
Other	1,275	1,071	1,041	1,042	1,062	900	870	567
Revenue growth [+]	8.5%	0.6%	-6.8%	4.8%	11.6%	-4.0%	9.2%	1.9%
Utility Group	0.3%	-1.2%	-11.2%	9.8%	7.2%	-8.5%	-6.8%	-2.0%
Nonutility Group	19.1%	2.9%	-8.7%	-2.1%	14.7%	-0.1%	38.5%	9.1%
Cost of goods sold [+]	1,560	1,296	1,264	1,290	1,258	1,076	1,038	782
Other cost of sales	444	363	355	346	367	295	385	243
Other direct costs	1,116	932	909
Gross profit	1,097	1,153	1,171	1,322	1,233	1,157	1,288	1,348
Gross margin	41.3%	47.1%	48.1%	50.6%	49.5%	51.8%	55.4%	63.3%
Selling, general and administrative [+]	59	61	60	64	61	56	58	62
General and administrative	59	61	60	64	61	56	58	62
Equity in earnings	-1	0	-1	-1	60	23	32	9
Other operating expenses	443	450	493	671	561	493	616	740
EBITDA [+]	594	641	618	587	671	630	646	555
EBITDA growth	-7.5%	3.9%	5.1%	-12.5%	6.5%	-2.5%	16.6%	13.5%
EBITDA margin	22.3%	26.2%	25.4%	22.5%	26.9%	28.2%	27.8%	26.0%
Depreciation	274	258	253	271	276	252	242	229
EBITA	320	384	364	317	396	378	404	326
EBITA margin	12.0%	15.7%	15.0%	12.1%	15.9%	16.9%	17.4%	15.3%
Amortization of intangibles	3	3	3	3	2	3	2	1
EBIT [+]	317	381	361	314	393	376	402	325
EBIT growth	-16.8%	5.6%	15.0%	-20.2%	4.7%	-6.5%	23.5%	17.6%
EBIT margin	11.9%	15.6%	14.8%	12.0%	15.8%	16.8%	17.3%	15.3%
Interest expense	88	86	85	87	88	96	107	105
Interest expense	88	86	85	87	88	96	107	105
Other income (expense), net	33	29	20	21	-102	-38	-68	-12
Pre-tax income	262	325	297	248	204	242	228	208
Income taxes	46	113	100	81	67	83	86	75
Tax rate	17.7%	34.8%	33.6%	32.7%	32.9%	34.2%	37.9%	35.8%
Net income	216	212	197	167	137	159	142	134
Net margin	8.1%	8.6%	8.1%	6.4%	5.5%	7.1%	6.1%	6.3%

Basic EPS [+]	$2.60	$2.56	$2.39	$2.02	$1.66	$1.94	$1.73	$1.65
Growth	1.8%	7.1%	17.9%	21.9%	-14.4%	12.0%	5.1%	-0.2%
Diluted EPS [+]	$2.60	$2.56	$2.39	$2.02	$1.66	$1.94	$1.73	$1.64
Growth	1.8%	7.1%	17.9%	22.0%	-14.4%	11.9%	5.3%	0.1%

Dividends per share [+]	$1.71	$1.62	$1.54	$1.46	$1.43	$1.41	$1.39	$1.37
Growth	5.6%	5.2%	5.5%	2.5%	1.4%	1.4%	1.5%	1.5%

Shares outstanding (basic) [+]	83	83	83	83	82	82	82	81
Growth	0.2%	0.1%	0.2%	0.2%	0.4%	0.2%	0.7%	0.6%
Shares outstanding (diluted) [+]	83	83	83	83	82	82	82	81
Growth	0.2%	0.1%	0.2%	0.1%	0.4%	0.4%	0.6%	0.4%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.