Business segment data

6 Months Ended

Jun. 30, 2011

Business segment data [Abstract]

Business segment data

15. Business segment data

The Company's reportable segments are those that are based on the Company's method of internal reporting, which generally segregates the strategic business units due to differences in products, services and regulation. The vast majority of the Company's operations are located within the United States. The Company also has investments in foreign countries, which largely consist of Centennial Resources' equity method investment in ECTE.

The electric segment generates, transmits and distributes electricity in Montana, North Dakota, South Dakota and Wyoming. The natural gas distribution segment distributes natural gas in those states as well as in Idaho, Minnesota, Oregon and Washington. These operations also supply related value-added services.

The construction services segment specializes in constructing and maintaining electric and communication lines, gas pipelines, fire suppression systems, and external lighting and traffic signalization equipment. This segment also provides utility excavation services and inside electrical wiring, cabling and mechanical services, sells and distributes electrical materials, and manufactures and distributes specialty equipment.

The pipeline and energy services segment provides natural gas transportation, underground storage and gathering services through regulated and nonregulated pipeline systems primarily in the Rocky Mountain and northern Great Plains regions of the United States. This segment also provides cathodic protection and other energy-related services.

The natural gas and oil production segment is engaged in natural gas and oil acquisition, exploration, development and production activities in the Rocky Mountain and Mid-Continent regions of the United States and in and around the Gulf of Mexico.

The construction materials and contracting segment mines aggregates and markets crushed stone, sand, gravel and related construction materials, including ready-mixed concrete, cement, asphalt, liquid asphalt and other value-added products. It also performs integrated contracting services. This segment operates in the central, southern and western United States and Alaska and Hawaii.

The Other category includes the activities of Centennial Capital, which insures various types of risks as a captive insurer for certain of the Company's subsidiaries. The function of the captive insurer is to fund the deductible layers of the insured companies' general liability and automobile liability coverages. Centennial Capital also owns certain real and personal property. The Other category also includes Centennial Resources' equity method investment in ECTE.

The information below follows the same accounting policies as described in Note 1 of the Company's Notes to Consolidated Financial Statements in the 2010 Annual Report. Information on the Company's businesses was as follows:

Three Months Ended June 30, 2011	External Operating Revenues		Inter- segment Operating Revenues			Earnings on Common Stock
	(In thousands)
Electric	$	49,986	$	-		$	4,807
Natural gas distribution		164,626		-			1,902
Pipeline and energy services		59,926		12,504			4,772
		274,538		12,504			11,481
Construction services		192,697		5,379			6,138
Natural gas and oil production		87,390		25,392			21,326
Construction materials and contracting		375,613		-			4,980
Other		519		2,301			971
		656,219		33,072			33,415
Intersegment eliminations		-		(45,576	)		-
Total	$	930,757	$	-		$	44,896

Three Months Ended June 30, 2010	External Operating Revenues		Inter- segment Operating Revenues			Earnings on Common Stock
	(In thousands)
Electric	$	45,683	$	-		$	4,947
Natural gas distribution		160,138		-			74
Pipeline and energy services		66,356		14,143			9,541
		272,177		14,143			14,562
Construction services		188,182		8			2,923
Natural gas and oil production		84,406		26,400			24,035
Construction materials and contracting		361,625		-			5,659
Other		54		2,213			1,588
		634,267		28,621			34,205
Intersegment eliminations		-		(42,764	)		-
Total	$	906,444	$	-		$	48,767

Six Months Ended June 30, 2011	External Operating Revenues		Inter- segment Operating Revenues			Earnings on Common Stock
	(In thousands)
Electric	$	107,831	$	-		$	13,331
Natural gas distribution		535,010		-			29,418
Pipeline and energy services		109,177		37,245			11,691
		752,018		37,245			54,440
Construction services		394,877		6,596			10,771
Natural gas and oil production		165,801		50,933			37,596
Construction materials and contracting		519,146		-			(16,423	)
Other		720		4,589			1,318
		1,080,544		62,118			33,262
Intersegment eliminations		-		(99,363	)		-
Total	$	1,832,562	$	-		$	87,702

Six Months Ended June 30, 2010	External Operating Revenues		Inter- segment Operating Revenues			Earnings on Common Stock
	(In thousands)
Electric	$	95,379	$	-		$	10,832
Natural gas distribution		509,162		-			23,416
Pipeline and energy services		127,881		41,228			18,332
		732,422		41,228			52,580
Construction services		341,247		32			3,051
Natural gas and oil production		156,066		62,327			46,246
Construction materials and contracting		511,432		-			(14,478	)
Other		54		4,451			2,968
		1,008,799		66,810			37,787
Intersegment eliminations		-		(108,038	)		-
Total	$	1,741,221	$	-		$	90,367

The Other category recognized a loss of $168,000 and income of $280,000, from discontinued operations, net of tax, for the three and six months ended June 30, 2011, respectively. Earnings from electric, natural gas distribution and pipeline and energy services are substantially all from regulated operations. Earnings from construction services, natural gas and oil production, construction materials and contracting, and other are all from nonregulated operations.