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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Operating revenues:        
Operating revenues: $ 1,000,795 $ 1,002,487 $ 3,522,020 $ 3,119,351
Operating expenses:        
Operation and maintenance: 738,658 767,451 2,304,796 2,077,524
Purchased natural gas sold 55,967 61,863 542,848 444,527
Depreciation, depletion and amortization 53,146 51,843 158,877 158,622
Taxes, other than income 39,454 40,248 156,587 139,305
Electric fuel and purchased power 28,966 20,080 73,755 68,370
Total operating expenses 916,191 941,485 3,236,863 2,888,348
Operating income 84,604 61,002 285,157 231,003
Unrealized Gain (Loss) on investment in Knife River 30,150 0 170,170 0
Other income 8,918 5,774 29,251 2,521
Interest expense 32,129 20,196 82,541 58,275
Income before income taxes 91,543 46,580 402,037 175,249
Income taxes 13,325 4,211 92,311 28,352
Income from continuing operations 78,218 42,369 309,726 146,897
Discontinued operations, net of tax (3,289) 105,602 (65,752) 103,504
Net income $ 74,929 $ 147,971 $ 243,974 $ 250,401
Earnings per share - basic:        
Income from continuing operations $ 0.38 $ 0.21 $ 1.52 $ 0.72
Discontinued operations, net of tax (0.01) 0.52 (0.32) 0.51
Earnings per share - basic 0.37 0.73 1.20 1.23
Earnings per share - diluted:        
Income from continuing operations 0.38 0.21 1.52 0.72
Discontinued operations, net of tax (0.01) 0.52 (0.32) 0.51
Earnings per share - diluted $ 0.37 $ 0.73 $ 1.20 $ 1.23
Weighted average common shares outstanding - basic 203,638 203,351 203,633 203,351
Weighted average common shares outstanding - diluted 203,886 203,644 203,891 203,407
Regulated operation        
Operating revenues:        
Operating revenues: $ 279,534 $ 263,774 $ 1,293,959 $ 1,141,007
Operating expenses:        
Operation and maintenance: 99,295 89,662 296,818 281,909
Income from continuing operations 14,628 12,919 100,923 73,249
Nonregulated operation        
Operating revenues:        
Operating revenues: 721,261 738,713 2,228,061 1,978,344
Operating expenses:        
Operation and maintenance: 639,363 677,789 2,007,978 1,795,615
Income from continuing operations $ 63,590 $ 29,450 $ 208,803 $ 73,648