Stockholder's Equity - Accumulated Other Comprehensive Income (Loss)

6 Months Ended

Jun. 30, 2025

Accumulated Other Comprehensive Income (Loss)

Stockholders' Equity

Common Stock Issuances

We maintain effective shelf registration statements with the SEC for the issuance of common stock in various types of equity offerings, including pursuant to our DRIP and ATM program. Depending on our capital needs and subject to market conditions, we may issue additional shares under the direct stock purchase component of the DRIP in addition to other possible debt and equity offerings. In November 2024, we established a new ATM program under which we may sell shares of our common stock up to an aggregate offering price of $100.0 million. This current ATM program is active through November 2027. For the six months ended June 30, 2025 and 2024, we received net proceeds of $61.2 million and $2.5 million, respectively, associated with shares issued under the direct stock purchase and waiver components of the DRIP as well as shares issued under our ATM program.

Accumulated Other Comprehensive Loss

Defined benefit pension and postretirement plan items, unrealized gains (losses) of our propane swap agreements designated as commodity contract cash flow hedges, and the unrealized gains (losses) of our interest rate swap agreements designated as cash flow hedges are the components of our accumulated other comprehensive loss. The following tables present the changes in the balances of accumulated other comprehensive loss components for the six months ended June 30, 2025 and 2024. All amounts in the following tables are presented net of tax.


	Defined Benefit		Commodity		Interest Rate
	Pension and		Contract		Swap
	Postretirement		Cash Flow		Cash Flow
	Plan Items		Hedges		Hedges		Total
(in millions)
As of December 31, 2024	$	(2.1)	$	0.4	$	—	$	(1.7)
Other comprehensive income (loss) before reclassifications	—		0.4		(0.7)		(0.3)
Amounts reclassified from accumulated other comprehensive loss	—		(0.6)		(0.2)		(0.8)
Net current-period other comprehensive income (loss)	—		(0.2)		(0.9)		(1.1)

As of June 30, 2025	$	(2.1)	$	0.2	$	(0.9)	$	(2.8)



As of December 31, 2023	$	(2.6)	$	(0.3)	$	0.1	$	(2.8)
Other comprehensive income before reclassifications	—		1.6		0.5		2.1
Amounts reclassified from accumulated other comprehensive loss	—		(0.7)		(0.2)		(0.9)
Net prior-period other comprehensive income (loss)	—		0.9		0.3		1.2
As of June 30, 2024	$	(2.6)	$	0.6	$	0.4	$	(1.6)

Deferred gains or losses for our commodity contract and interest rate swap cash flow hedges are recognized in earnings upon settlement and are included in the effects of gains and losses from derivative instruments. See Note 12, Derivative Instruments, for additional details. Amortization of the net loss related to the defined benefit pension plan and postretirement plans is included in the computation of net periodic cost (benefit). See Note 10, Employee Benefit Plans, for additional details.