Report of Business Segments (Tables)

9 Months Ended

Sep. 30, 2020

The following tables summarize the results of the Company's business segments during the three and nine months ended September 30, 2020 and 2019.



Three Months Ended September 30, 2020	Electric Utility		Natural Gas Midstream Operations		Other Operations		Eliminations		Total
(In millions)
Operating revenues	$	702.1	$	—	$	—	$	—	$	702.1
Cost of sales	209.1		—		—		—		209.1
Other operation and maintenance	110.1		0.3		(0.7)		—		109.7
Depreciation and amortization	100.5		—		—		—		100.5


Taxes other than income	23.9		0.2		0.7		—		24.8
Operating income (loss)	258.5		(0.5)		—		—		258.0
Equity in earnings of unconsolidated affiliates	—		15.8		—		—		15.8
Other income (expense)	0.6		(0.7)		(0.5)		(0.2)		(0.8)
Interest expense	39.5		—		0.5		(0.2)		39.8
Income tax expense	20.1		4.5		31.2		—		55.8
Net income (loss)	$	199.5	$	10.1	$	(32.2)	$	—	$	177.4
Investment in unconsolidated affiliates	$	—	$	355.8	$	21.0	$	—	$	376.8
Total assets	$	10,323.3	$	358.7	$	109.6	$	(294.0)	$	10,497.6



Three Months Ended September 30, 2019	Electric Utility		Natural Gas Midstream Operations		Other Operations		Eliminations		Total
(In millions)
Operating revenues	$	755.4	$	—	$	—	$	—	$	755.4
Cost of sales	234.0		—		—		—		234.0
Other operation and maintenance	130.0		0.6		(0.8)		—		129.8
Depreciation and amortization	94.1		—		—		—		94.1
Taxes other than income	22.3		0.1		0.8		—		23.2
Operating income (loss)	275.0		(0.7)		—		—		274.3
Equity in earnings of unconsolidated affiliates	—		38.3		—		—		38.3
Other income (expense)	(0.1)		(0.6)		0.6		(1.2)		(1.3)
Interest expense	38.0		—		2.8		(1.2)		39.6
Income tax expense	9.7		8.5		2.6		—		20.8
Net income (loss)	$	227.2	$	28.5	$	(4.8)	$	—	$	250.9
Investment in unconsolidated affiliates	$	—	$	1,159.1	$	16.8	$	—	$	1,175.9
Total assets	$	10,019.7	$	1,161.5	$	108.3	$	(205.8)	$	11,083.7



Nine Months Ended September 30, 2020	Electric Utility		Natural Gas Midstream Operations		Other Operations		Eliminations		Total
(In millions)
Operating revenues	$	1,636.9	$	—	$	—	$	—	$	1,636.9
Cost of sales	481.5		—		—		—		481.5
Other operation and maintenance	348.8		1.2		(2.8)		—		347.2
Depreciation and amortization	292.2		—		—		—		292.2


Taxes other than income	72.8		0.4		3.1		—		76.3
Operating income (loss)	441.6		(1.6)		(0.3)		—		439.7
Equity in losses of unconsolidated affiliates (A)	—		(703.8)		—		—		(703.8)
Other income (expense)	2.9		(0.7)		2.5		(1.4)		3.3
Interest expense	115.7		—		4.6		(1.4)		118.9
Income tax expense (benefit)	30.5		(167.2)		(14.5)		—		(151.2)
Net income (loss)	$	298.3	$	(538.9)	$	12.1	$	—	$	(228.5)
Investment in unconsolidated affiliates	$	—	$	355.8	$	21.0	$	—	$	376.8
Total assets	$	10,323.3	$	358.7	$	109.6	$	(294.0)	$	10,497.6

(A)In March 2020, the Company recorded a $780.0 million impairment on its investment in Enable, as further discussed in Notes 4 and 5.



Nine Months Ended September 30, 2019	Electric Utility		Natural Gas Midstream Operations		Other Operations		Eliminations		Total
(In millions)
Operating revenues	$	1,759.1	$	—	$	—	$	—	$	1,759.1
Cost of sales	625.3		—		—		—		625.3
Other operation and maintenance	370.3		1.3		(3.0)		—		368.6
Depreciation and amortization	260.8		—		—		—		260.8


Taxes other than income	66.8		0.4		3.2		—		70.4
Operating income (loss)	435.9		(1.7)		(0.2)		—		434.0
Equity in earnings of unconsolidated affiliates	—		104.8		—		—		104.8
Other income (expense)	4.0		(8.4)		2.3		(2.2)		(4.3)
Interest expense	103.7		—		8.6		(2.2)		110.1
Income tax expense (benefit)	14.9		18.0		(6.7)		—		26.2
Net income	$	321.3	$	76.7	$	0.2	$	—	$	398.2
Investment in unconsolidated affiliates	$	—	$	1,159.1	$	16.8	$	—	$	1,175.9
Total assets	$	10,019.7	$	1,161.5	$	108.3	$	(205.8)	$	11,083.7