XML 50 R34.htm IDEA: XBRL DOCUMENT v3.25.0.1
Revenue Recognition Revenue Recognition (Tables)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Revenue from Contract with Customer [Abstract]      
Disaggregation of Revenue [Table Text Block] for the years ended December 31, 2024, 2023 and 2022:
For the Year Ended December 31, 2024
(in millions)Regulated EnergyUnregulated EnergyOther and EliminationsTotal
Energy distribution
Delaware natural gas division$76.9 $— $— $76.9 
Florida Natural Gas distribution
170.3 — — 170.3 
Florida City Gas140.3 — — 140.3 
FPU electric distribution92.6 — — 92.6 
Maryland natural gas division24.6 — — 24.6 
Sandpiper natural gas/propane operations20.0 — — 20.0 
Elkton Gas7.3 — — 7.3 
Total energy distribution532.0 — — 532.0 
Energy transmission
Aspire Energy— 35.2 — 35.2 
Aspire Energy Express1.5 — — 1.5 
Eastern Shore81.7 — — 81.7 
Peninsula Pipeline34.5 — — 34.5 
Total energy transmission117.7 35.2 — 152.9 
Energy generation
Eight Flags— 18.0 — 18.0 
Propane operations
Propane distribution operations— 157.9 — 157.9 
CNG / RNG
Marlin Gas Services— 16.6 — 16.6 
Other RNG1.0 1.0 
Total CNG / RNG Services— 17.6 — 17.6 
Other and eliminations
Eliminations(66.3)(0.3)(24.8)(91.4)
Other— 0.2 0.2 
Total other and eliminations(66.3)(0.3)(24.6)(91.2)
Total operating revenues (1)
$583.4 $228.4 $(24.6)$787.2 
    
(1) Total operating revenues for the year ended December 31, 2024, include other revenue (revenues from sources other than contracts with customers) of $1.6 million and $0.4 million for our Regulated and Unregulated Energy segments, respectively. The sources of other revenues include revenue from alternative revenue programs related to revenue normalization for Maryland division and Sandpiper and late fees.
For the Year Ended December 31, 2023
(in millions)Regulated EnergyUnregulated EnergyOther and EliminationsTotal
Energy distribution
Delaware natural gas division$83.9 $— $— $83.9 
Florida Natural Gas distribution
168.4 — — 168.4 
Florida City Gas (1)
12.1 — — 12.1 
FPU electric distribution99.5 — — 99.5 
Maryland natural gas division28.1 — — 28.1 
Sandpiper natural gas/propane operations20.2 — — 20.2 
Elkton Gas8.8 — — 8.8 
Total energy distribution421.0 — — 421.0 
Energy transmission
Aspire Energy— 37.1 — 37.1 
Aspire Energy Express1.5 — — 1.5 
Eastern Shore79.9 — — 79.9 
Peninsula Pipeline30.4 — — 30.4 
Total energy transmission111.8 37.1 — 148.9 
Energy generation
Eight Flags— 19.2 — 19.2 
Propane operations
Propane distribution operations— 154.7 — 154.7 
Compressed Natural Gas Services
Marlin Gas Services— 12.3 — 12.3 
Other and eliminations
Eliminations(59.2)(0.2)(26.3)(85.7)
Other— — 0.2 0.2 
Total other and eliminations(59.2)(0.2)(26.1)(85.5)
Total operating revenues (2)
$473.6 $223.1 $(26.1)$670.6 
    
(1) Operating revenues for FCG include amounts from the acquisition date through December 31, 2023. For additional information on FCG's results, see Note 4, Acquisitions, and discussion under Item 7, Management's Discussion and Analysis of Financial Condition and Results of Operations.
(2) Total operating revenues for the year ended December 31, 2023, include other revenue (revenues from sources other than contracts with customers) of $1.2 million and $0.4 million for our Regulated and Unregulated Energy segments, respectively. The sources of other revenues include revenue from alternative revenue programs related to revenue normalization for Maryland division and Sandpiper and late fees
For the Year Ended December 31, 2022
(in millions)Regulated EnergyUnregulated EnergyOther and EliminationsTotal
Energy distribution
Delaware natural gas division$82.2 $— $— $82.2 
Florida Natural Gas distribution
155.9 — — 155.9 
FPU electric distribution81.7 — — 81.7 
Maryland natural gas division26.6 — — 26.6 
Sandpiper natural gas/propane operations21.3 — — 21.3 
Elkton Gas9.2 — — 9.2 
Total energy distribution376.9 — — 376.9 
Energy transmission
Aspire Energy— 56.2 — 56.2 
Aspire Energy Express1.4 — — 1.4 
Eastern Shore78.6 — — 78.6 
Peninsula Pipeline27.3 — — 27.3 
Total energy transmission107.3 56.2 — 163.5 
Energy generation
Eight Flags— 25.3 — 25.3 
Propane operations
Propane distribution operations— 188.4 — 188.4 
Compressed Natural Gas Services
Marlin Gas Services— 11.2 — 11.2 
Other and eliminations
Eliminations(54.8)(0.3)(29.8)(84.9)
Other— — 0.3 0.3 
Total other and eliminations(54.8)(0.3)(29.5)(84.6)
Total operating revenues (1)
$429.4 $280.8 $(29.5)$680.7 
(1) Total operating revenues for the year ended December 31, 2022, include other revenue (revenues from sources other than contracts with customers) of $0.5 million and $0.4 million for our Regulated and Unregulated Energy segments, respectively. The sources of other revenues include revenue from alternative revenue programs related to revenue normalization for Maryland division and Sandpiper and late fees.
Contract with Customer, Asset and Liability [Table Text Block] The balances of our trade receivables, contract assets, and contract liabilities as of December 31, 2024 and 2023 were as follows:
Trade ReceivablesContract Assets (Current)Contract Assets (Noncurrent)Contract Liabilities (Current)
(in millions)
Balance at 12/31/2023
$67.7 $— $3.5 $1.0 
Balance at 12/31/2024
66.2 — 3.0 1.2 
Increase (decrease)$(1.5)$— $(0.5)$0.2 
    
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Table Text Block] Revenue for these businesses for the remaining performance obligations at December 31, 2024 are expected to be recognized as follows:
(in millions)202520262027202820292030 and thereafter
Eastern Shore and Peninsula Pipeline$37.5 $34.5 $30.8 $28.6 $26.3 $130.6 
Natural gas distribution operations11.7 11.5 10.0 10.0 10.0 33.6 
FPU electric distribution0.7 0.4 0.4 0.4 — — 
Total revenue contracts with remaining performance obligations$49.9 $46.4 $41.2 $39.0 $36.3 $164.2