CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	12 Months Ended
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Electric	$ 3,332,695	$ 3,345,867	$ 2,961,457
Natural gas	1,488,570	1,423,276	1,209,636
Other	34,950	47,431	50,069
Total operating revenue	4,856,215	4,816,574	4,221,162
Purchased electricity	1,196,897	1,110,572	1,038,728
Electric generation fuel	336,725	457,287	348,159
Residential exchange	(85,175)	(77,223)	(77,715)
Purchased natural gas	679,433	641,371	500,849
Unrealized (gain) loss on derivative instruments, net	(33,911)	284,495	(261,177)
Utility operations and maintenance	785,088	735,278	665,259
Non-utility expense and other	46,056	56,515	59,804
Depreciation and amortization	787,986	751,335	663,232
Conservation amortization	137,147	121,340	116,942
Taxes other than income taxes	398,773	404,538	389,442
Total operating expenses	4,249,019	4,485,508	3,443,523
Operating income (loss)	607,196	331,066	777,639
Other income	102,882	66,829	45,450
Other expense	(19,566)	(14,765)	(19,569)
AFUDC	37,660	24,687	18,444
Interest expense	(432,194)	(381,511)	(347,921)
Income (loss) before income taxes	295,978	26,306	474,043
Income tax (benefit) expense	30,723	(27,434)	59,698
Net income (loss)	265,255	53,740	414,345
Subsidiaries [Member]
Electric	3,332,695	3,345,867	2,961,457
Natural gas	1,492,254	1,424,368	1,209,636
Other	282	16,383	45,080
Total operating revenue	4,825,231	4,786,618	4,216,173
Purchased electricity	1,196,897	1,110,572	1,038,728
Electric generation fuel	336,725	457,287	348,159
Residential exchange	(85,175)	(77,223)	(77,715)
Purchased natural gas	679,433	641,371	500,849
Unrealized (gain) loss on derivative instruments, net	(33,911)	284,495	(261,177)
Utility operations and maintenance	785,088	735,278	665,259
Non-utility expense and other	21,664	28,658	47,194
Depreciation and amortization	781,325	744,629	657,349
Conservation amortization	137,147	121,340	116,942
Taxes other than income taxes	403,918	404,759	388,123
Total operating expenses	4,223,111	4,451,166	3,423,711
Operating income (loss)	602,120	335,452	792,462
Other income	100,071	64,230	36,684
Other expense	(19,566)	(14,765)	(19,569)
AFUDC	37,660	24,687	18,444
Interest expense	(321,550)	(285,148)	(256,774)
Income (loss) before income taxes	398,735	124,456	571,247
Income tax (benefit) expense	52,587	(6,603)	80,295
Net income (loss)	$ 346,148	$ 131,059	$ 490,952

PUGET ENERGY INC /WA 10-K