Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Table Text Block]

A summary of property, plant and equipment by classification as of December 31, 2022 and 2021 is provided in the following table:


	As of December 31,
(in thousands)	2022		2021
Property, plant and equipment
Regulated Energy
Natural gas distribution - Delmarva Peninsula and Florida	$	925,501	$	859,627
Natural gas transmission - Delmarva Peninsula, Pennsylvania, Ohio and Florida	741,865		727,277
Electric distribution	135,633		133,383
Unregulated Energy
Propane operations – Mid-Atlantic, North Carolina, South Carolina and Florida	185,090		176,095
Natural gas transmission and supply – Ohio	128,620		112,050
Electricity and steam generation	36,886		36,740
Mobile CNG and pipeline solutions	38,543		32,374
Renewable energy investments	4,076		—
Other	29,890		35,418
Total property, plant and equipment	2,226,104		2,112,964
Less: Accumulated depreciation and amortization	(462,926)		(417,479)
Plus: Construction work in progress	47,295		49,393
Net property, plant and equipment	$	1,810,473	$	1,744,878

Annual Depreciation Rates Table [Table Text Block]

Depreciation and Accretion Included in Operations Expenses

We compute depreciation expense for our regulated operations by applying composite, annual rates, as approved by the respective regulatory bodies. The following table shows the average depreciation rates used for regulated operations during the years ended December 31, 2022, 2021 and 2020:


	2022	2021	2020
Natural gas distribution – Delmarva Peninsula	2.5%	2.5%	2.5%
Natural gas distribution – Florida	2.5%	2.5%	2.5%
Natural gas transmission – Delmarva Peninsula	2.7%	2.7%	2.7%
Natural gas transmission – Florida	2.4%	2.3%	2.3%
Natural gas transmission – Ohio	5.0%	N/A	N/A
Electric distribution	2.8%	2.8%	2.9%

Estimated Useful Life Of Assets Table [Table Text Block]

For our unregulated operations, we compute depreciation expense on a straight-line basis over the following estimated useful lives of the assets:


Asset Description			Useful Life
Propane distribution mains			10-37 years
Propane bulk plants and tanks			10-40 years
Propane equipment, meters and meter installations			5-33 years
Measuring and regulating station equipment			5-37 years
Natural gas pipelines			45 years
Natural gas right of ways			Perpetual
CHP plant			30 years
Natural gas processing equipment			20-25 years
Office furniture and equipment			3-10 years
Transportation equipment			4-20 years
Structures and improvements			5-45 years
Other			Various