We haven’t changed our view that full-year guidance for these expenses should increase in the 2% range. This just reflects a change in the spending pattern between the two years, for this year has been fairly consistent across the quarters compared to last year when a significant amount of expense came in the fourth quarter.Depreciation expense increased $4 million inline with our guidance and also reflecting plant additions completed last year. During the quarter, we issued an additional 1.2 million shares receiving about $26 million from shares reprised last year under a forward contract. We have 8.5 million forward shares remaining which we plan to sell later this month for about $200 million. This will raise our equity ratio to 52% consistent with our rate filing.
Westar Energy's CEO Discusses Q3 2011 Results - Earnings Call Transcript
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