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Business segment data
 12 Months Ended
Dec. 31, 2022
Segment Reporting [Abstract]  
Business segment data 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 internal reporting of these operating segments is defined based on the reporting and review process used by the Company's chief executive officer. The Company's operations are located within the United States.
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 pipeline segment provides natural gas transportation and underground storage services through a regulated pipeline system primarily in the Rocky Mountain and northern Great Plains regions of the United States. This segment also provides non-regulated cathodic protection services.
The construction materials and contracting segment mines, processes and sells construction aggregates (crushed stone and sand and gravel); produces and sells asphalt; and supplies ready-mix concrete. This segment's aggregate reserves provide the foundation for the vertical integration of its contracting services with its construction materials to support its aggregate-based product lines including heavy-civil construction, asphalt paving, concrete construction and site development and grading. Although not common to all locations, the segment also includes the sale of cement, liquid asphalt modification and distribution, various finished concrete products, merchandise and other building materials and related contracting services. This segment operates in the central, southern and western United States, including Alaska and Hawaii.
The construction services segment provides a full spectrum of construction services through its electrical and mechanical and transmission and distribution specialty contracting services across the United States. These specialty contracting services are provided to utilities, manufacturing, transportation, commercial, industrial, institutional, renewable and governmental customers. Its electrical and mechanical contracting services include construction and maintenance of electrical and communication wiring and infrastructure, fire suppression systems, and mechanical piping and services. Its transmission and distribution contracting services include construction and maintenance of overhead and underground electrical, gas and communication infrastructure, as well as manufacturing and distribution of transmission line construction equipment and tools.
The Other category includes the activities of Centennial Capital, which, through its subsidiary InterSource Insurance Company, 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 self-insured layers of the insured Company's general liability, automobile liability, pollution liability and other coverages. Centennial Capital also owns certain real and personal property. In addition, the Other category includes certain assets, liabilities and tax adjustments of the holding company primarily associated with corporate functions, as well as costs associated with the announced strategic initiatives. Also included are certain general and administrative costs (reflected in operation and maintenance expense) and interest expense, which were previously allocated to the refining business and Fidelity and do not meet the criteria for income (loss) from discontinued operations.
Discontinued operations include the supporting activities of Fidelity other than certain general and administrative costs and interest expense as described above.
The information below follows the same accounting policies as described in Note 2. Information on the Company's segments as of December 31 and for the years then ended was as follows:
 20222021 2020 
 (In thousands)
External operating revenues:   
Regulated operations:
Electric$376,579 $349,039 $331,538 
Natural gas distribution1,273,249 971,364 847,651 
Pipeline85,931 69,940 69,957 
 1,735,759 1,390,343 1,249,146 
Non-regulated operations:
Pipeline10,636 12,918 15,389 
Construction materials and contracting2,533,713 2,228,306 2,177,585 
Construction services2,693,756 2,049,082 2,090,685 
Other— 84 (55)
 5,238,105 4,290,390 4,283,604 
Total external operating revenues$6,973,864 $5,680,733 $5,532,750 
 20222021 2020 
 (In thousands)
Intersegment operating revenues:   
Regulated operations:
Electric$494 $543 $491 
Natural gas distribution555 576 534 
Pipeline58,368 58,989 57,977 
59,417 60,108 59,002 
Non-regulated operations:
Pipeline644 689 554 
Construction materials and contracting1,016 624 417 
Construction services5,494 2,555 5,038 
Other17,605 13,630 11,958 
24,759 17,498 17,967 
Total Intersegment operating revenues$84,176 $77,606 $76,969 
Depreciation, depletion and amortization:   
Electric$67,802 $66,750 $62,998 
Natural gas distribution89,466 86,065 84,580 
Pipeline26,857 20,569 21,669 
Construction materials and contracting117,798 100,974 89,626 
Construction services21,468 20,270 23,523 
Other4,435 4,586 2,704 
Total depreciation, depletion and amortization$327,826 $299,214 $285,100 
Operating income (loss):
Electric$79,655 $66,335 $63,434 
Natural gas distribution91,889 89,173 73,082 
Pipeline55,466 48,078 49,436 
Construction materials and contracting194,295 191,077 214,498 
Construction services164,644 145,754 147,644 
Other(11,996)(6,198)(3,169)
Total operating income$573,953 $534,219 $544,925 
Interest expense:   
Electric$28,526 $26,712 $26,699 
Natural gas distribution42,126 37,265 36,798 
Pipeline11,318 7,010 7,622 
Construction materials and contracting30,121 19,218 20,577 
Construction services6,354 3,540 4,095 
Other1,465 342 883 
Intersegment eliminations(637)(103)(155)
Total interest expense$119,273 $93,984 $96,519 
Income tax expense (benefit):   
Electric$(5,420)$(7,626)$(11,636)
Natural gas distribution7,805 8,366 5,746 
Pipeline10,212 9,594 7,650 
Construction materials and contracting42,601 43,459 47,431 
Construction services40,788 35,426 35,797 
Other(1,203)(299)(398)
Total income tax expense$94,783 $88,920 $84,590 
 20222021 2020 
 (In thousands)
Net income (loss):   
Regulated operations:
Electric$57,077 $51,906 $55,601 
Natural gas distribution45,171 51,596 44,049 
Pipeline35,357 39,583 35,453 
137,605 143,085 135,103 
Non-regulated operations:
Pipeline(69)1,313 1,559 
Construction materials and contracting116,220 129,755 147,325 
Construction services124,781 109,402 109,721 
Other(11,261)(5,824)(3,181)
229,671 234,646 255,424 
Income from continuing operations367,276 377,731 390,527 
Discontinued operations, net of tax213 400 (322)
Net income$367,489 $378,131 $390,205 
Capital expenditures:   
Electric$133,970 $82,427 $114,676 
Natural gas distribution240,064 170,411 193,048 
Pipeline61,923 234,803 62,224 
Construction materials and contracting181,917 417,524 191,635 
Construction services36,413 29,140 83,651 
Other2,272 1,501 3,045 
Total capital expenditures (a)$656,559 $935,806 $648,279 
Assets:   
Electric (b)$1,856,258 $1,810,695 $2,123,693 
Natural gas distribution (b)3,214,452 2,929,519 2,302,770 
Pipeline961,893 913,945 703,377 
Construction materials and contracting2,268,970 2,161,653 1,798,493 
Construction services1,126,323 845,262 818,662 
Other (c)232,885 249,361 306,377 
Total assets$9,660,781 $8,910,435 $8,053,372 
Property, plant and equipment:   
Electric (b)$2,276,613 $2,295,646 $2,323,403 
Natural gas distribution (b)3,208,060 3,015,164 2,868,853 
Pipeline1,108,141 1,051,868 821,697 
Construction materials and contracting2,489,408 2,347,696 2,028,476 
Construction services245,111 225,758 220,796 
Other36,705 36,717 37,545 
Less accumulated depreciation, depletion and amortization3,272,493 3,216,461 3,133,831 
Net property, plant and equipment$6,091,545 $5,756,388 $5,166,939 
(a)Capital expenditures for 2022, 2021 and 2020 include noncash transactions such as capital expenditure-related accounts payable, the issuance of the Company's equity securities in connection with an acquisition, AFUDC and accrual of holdback payments in connection with acquisitions totaling $1.7 million, $38.7 million and $(15.7) million, respectively.
(b)Includes allocations of common utility property.
(c)Includes assets not directly assignable to a business (i.e. cash and cash equivalents, certain accounts receivable, certain investments and other miscellaneous current and deferred assets).
A reconciliation of reportable segment operating revenues and assets to consolidated operating revenues and assets is as follows:
20222021 2020 
(In thousands)
Operating revenues reconciliation:
Total reportable segment operating revenues$7,040,435 $5,744,625 $5,597,816 
Other revenue17,605 13,714 11,903 
Elimination of intersegment operating revenues(84,176)(77,606)(76,969)
Total consolidated operating revenues$6,973,864 $5,680,733 $5,532,750 
Asset reconciliation:
Total reportable segment assets$9,491,679 $8,717,563 $7,816,848 
Other assets1,353,614 1,184,956 947,740 
Elimination of intersegment receivables(1,184,512)(992,084)(711,216)
Total consolidated assets$9,660,781 $8,910,435 $8,053,372