Report of Business Segments

12 Months Ended

Dec. 31, 2019

Segment Reporting Information [Line Items]

The Company reports its operations in two business segments: (i) the electric utility segment, which is engaged in the generation, transmission, distribution and sale of electric energy and (ii) natural gas midstream operations segment. Other operations primarily includes the operations of the holding company. Intersegment revenues are recorded at prices comparable to those of unaffiliated customers and are affected by regulatory considerations. The following tables summarize the results of the Company's business segments for the years ended December 31, 2019, 2018 and 2017.


2019	Electric Utility		Natural Gas Midstream Operations		Other Operations		Eliminations		Total
(In millions)
Operating revenues	$	2,231.6	$	—	$	—	$	—	$	2,231.6
Cost of sales	786.9		—		—		—		786.9
Other operation and maintenance	492.5		2.8		(3.5)		—		491.8
Depreciation and amortization	355.0		—		—		—		355.0


Taxes other than income	89.5		0.4		3.7		—		93.6
Operating income (loss)	507.7		(3.2)		(0.2)		—		504.3
Equity in earnings of unconsolidated affiliates	—		113.9		—		—		113.9
Other income (expense)	3.1		(8.6)		2.2		(3.6)		(6.9)
Interest expense	140.5		—		11.0		(3.6)		147.9
Income tax expense (benefit)	20.1		20.7		(11.0)		—		29.8
Net income	$	350.2	$	81.4	$	2.0	$	—	$	433.6
Investment in unconsolidated affiliates	$	—	$	1,132.9	$	18.6	$	—	$	1,151.5
Total assets	$	10,076.6	$	1,135.4	$	107.0	$	(294.7)	$	11,024.3
Capital expenditures	$	635.5	$	—	$	—	$	—	$	635.5


2018	Electric Utility		Natural Gas Midstream Operations		Other Operations		Eliminations		Total
(In millions)
Operating revenues	$	2,270.3	$	—	$	—	$	—	$	2,270.3
Cost of sales	892.5		—		—		—		892.5
Other operation and maintenance	473.8		1.4		(0.6)		—		474.6
Depreciation and amortization	321.6		—		—		—		321.6


Taxes other than income	88.2		0.6		3.2		—		92.0
Operating income (loss)	494.2		(2.0)		(2.6)		—		489.6
Equity in earnings of unconsolidated affiliates	—		152.8		—		—		152.8
Other income (expense)	25.6		(4.9)		(3.4)		(6.0)		11.3
Interest expense	151.8		—		10.2		(6.0)		156.0
Income tax expense (benefit)	40.0		37.1		(4.9)		—		72.2
Net income (loss)	$	328.0	$	108.8	$	(11.3)	$	—	$	425.5


Investment in unconsolidated affiliates	$	—	$	1,166.6	$	10.9	$	—	$	1,177.5
Total assets	$	9,704.5	$	1,169.8	$	184.8	$	(310.5)	$	10,748.6
Capital expenditures	$	573.6	$	—	$	—	$	—	$	573.6


2017	Electric Utility		Natural Gas Midstream Operations		Other Operations		Eliminations		Total
(In millions)
Operating revenues	$	2,261.1	$	—	$	—	$	—	$	2,261.1
Cost of sales	897.6		—		—		—		897.6
Other operation and maintenance	469.8		(0.8)		(10.3)		—		458.7
Depreciation and amortization	280.9		—		2.6		—		283.5


Taxes other than income	84.8		1.0		3.6		—		89.4
Operating income (loss)	528.0		(0.2)		4.1		—		531.9
Equity in earnings of unconsolidated affiliates	—		131.2		—		—		131.2
Other income (expense)	57.7		(1.0)		(5.4)		(0.9)		50.4
Interest expense	138.4		—		6.3		(0.9)		143.8
Income tax expense (benefit) (A)	141.8		(195.2)		4.1		—		(49.3)
Net income (loss)	$	305.5	$	325.2	$	(11.7)	$	—	$	619.0


Investment in unconsolidated affiliates	$	—	$	1,151.9	$	8.5	$	—	$	1,160.4
Total assets	$	9,255.6	$	1,155.3	$	109.1	$	(107.3)	$	10,412.7
Capital expenditures	$	824.1	$	—	$	—	$	—	$	824.1

(A)The Company recorded an income tax benefit of $245.2 million and income tax expense of $10.5 million during the fourth quarter of 2017 due to the Company remeasuring deferred taxes related to the natural gas midstream operations and other operations segments, respectively, as a result of the 2017 Tax Act.