Summary of significant accounting policies (Tables)

12 Months Ended

Dec. 31, 2012

Accounting Policies [Abstract]

Inventories

Inventories at December 31 consisted of:

	2012		2011
	(In thousands)
Aggregates held for resale	$	87,715	$	78,518
Materials and supplies	69,390		61,611
Natural gas in storage (current)	29,030		36,578
Asphalt oil	67,480		32,335
Merchandise for resale	31,172		32,165
Other	32,628		32,998
Total	$	317,415	$	274,205

AFUDC and interest capitailized

The amount of AFUDC and interest capitalized for the years ended December 31 were as follows:

	2012		2011		2010
	(In thousands)
Interest capitalized	$	8,659	$	10,821	$	9,753
AFUDC - borrowed	$	2,483	$	1,666	$	2,950
AFUDC - equity	$	4,530	$	2,587	$	4,896

Property, plant and equipment

Property, plant and equipment at December 31 was as follows:

	2012		2011		Weighted Average Depreciable Life in  Years
	(Dollars in thousands, where applicable)
Regulated:
Electric:
Generation	$	580,567	$	546,783	47
Distribution	282,424		255,232		36
Transmission	190,311		179,580		44
Other	97,282		86,929		14
Natural gas distribution:
Distribution	1,329,692		1,257,360		40
Other	360,258		311,506		24
Pipeline and energy services:
Transmission	416,186		386,227		52
Gathering	42,424		42,378		19
Storage	42,554		41,908		51
Other	38,493		36,179		29
Nonregulated:
Pipeline and energy services:
Gathering	259,724		198,864		16
Other	17,152		13,735		10
Exploration and production:
Oil and natural gas properties	2,723,356		2,577,576		*
Other	41,204		37,570		8
Construction materials and contracting:
Land	126,788		126,790		-
Buildings and improvements	73,884		67,627		19
Machinery, vehicles and equipment	899,592		902,136		12
Construction in progress	11,165		8,085		-
Aggregate reserves	393,552		395,214		**
Construction services:
Land	4,723		4,706		-
Buildings and improvements	16,563		15,001		23
Machinery, vehicles and equipment	100,445		95,891		7
Other	8,893		9,198		4
Other:
Land	2,837		2,837		-
Other	47,682		46,910		24
Less accumulated depreciation, depletion and amortization	3,608,912		3,361,208
Net property, plant and equipment	$	4,498,839	$	4,285,014

  *  Amortized on the units-of-production method based on total proved reserves at a BOE average rate of $15.28, $12.25 and $10.64 for the years ended December 31, 2012, 2011 and 2010, respectively. Includes oil and natural gas properties accounted for under the full-cost method, of which $191.8 million and $232.5 million were excluded from amortization at December 31, 2012 and 2011, respectively.

** Depleted on the units-of-production method.

Summary of natural gas and oil properties not subject to amortization

The following table summarizes the Company's oil and natural gas properties not subject to amortization at December 31, 2012, in total and by the year in which such costs were incurred:

			Year Costs Incurred
	Total		2012		2011		2010		2009 and prior
	(In thousands)
Acquisition	$	144,521	$	26,318	$	38,186	$	22,142	$	57,875
Development	7,415		6,858		399		77		81
Exploration	36,246		34,407		856		643		340
Capitalized interest	3,612		1,297		757		439		1,119
Total costs not subject to amortization	$	191,794	$	68,880	$	40,198	$	23,301	$	59,415

Schedule of earnings per share reconciliation

Net income (loss) was the same for both the basic and diluted earnings (loss) per share calculations. A reconciliation of the weighted average common shares outstanding used in the basic and diluted earnings (loss) per share calculation was as follows:

	2012	2011	2010
	(In thousands)
Weighted average common shares outstanding - basic	188,826	188,763	188,137
Effect of dilutive stock options and performance share awards	—	142	92
Weighted average common shares outstanding - diluted	188,826	188,905	188,229
Shares excluded from the calculation of diluted earnings per share	58	—	—

Cash expenditures for interest and income taxes and noncash investing transactions

Cash expenditures for interest and income taxes for the years ended December 31 were as follows:

	2012		2011			2010
	(In thousands)
Interest, net of amount capitalized	$	74,378	$	78,133		$	80,962
Income taxes paid (refunded), net	$	3,277	$	(12,287	)	$	46,892

Noncash investing transactions at December 31 were as follows:

	2012		2011		2010
	(In thousands)
Property, plant and equipment additions in accounts payable	$	76,205	$	41,540	$	30,895

After-tax components of accumulated other comprehensive income (loss)

The after-tax components of accumulated other comprehensive loss as of December 31, 2012, 2011 and 2010, were as follows:

	Net Unrealized Gain (Loss) on Derivative  Instruments  Qualifying as Hedges			Postretirement  Liability Adjustment			Foreign Currency  Translation  Adjustment			Net Unrealized Gains on Available-for-sale Investments		Total Accumulated  Other Comprehensive  Loss
	(In thousands)
Balance at December 31, 2010	$	(1,625	)	$	(30,893	)	$	1,257		$	—	$	(31,261	)
Current-period other comprehensive loss	7,900			(22,427		)	(1,295		)	82		(15,740		)
Balance at December 31, 2011	6,275			(53,320		)	(38		)	82		(47,001		)
Current-period other comprehensive loss	(257		)	(1,027		)	(473		)	37		(1,720		)
Balance at December 31, 2012	$	6,018		$	(54,347	)	$	(511	)	$	119	$	(48,721	)