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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating revenues:      
Revenues $ 4,657,340 $ 4,441,784 $ 3,454,436
Operating expenses:      
Total operation and maintenance 2,970,872 2,825,694 2,209,931
Purchased natural gas sold 742,965 757,883 483,118
Depreciation and amortization 213,598 210,028 198,240
Taxes, other than income 196,046 186,173 157,991
Electric fuel and purchased power 107,881 92,007 74,105
Operating expenses 4,231,362 4,071,785 3,123,385
Operating income 425,978 369,999 331,051
Realized gain on tax-free exchange of the retained shares in Knife River 186,556 0 0
Other income 41,672 11,228 25,724
Interest expense 114,308 80,698 70,709
Income before income taxes 539,898 300,529 286,066
Income taxes 59,473 49,761 43,544
Income from continuing operations 480,425 250,768 242,522
Discontinued operations, net of tax (65,718) 116,721 135,609
Net income $ 414,707 $ 367,489 $ 378,131
Earnings per share - basic:      
Income from continuing operations (in usd per share) $ 2.36 $ 1.23 $ 1.20
Discontinued operations, net of tax (in usd per share) (0.32) 0.58 0.67
Earnings per share - basic (in usd per share) 2.04 1.81 1.87
Earnings per share - diluted:      
Income from continuing operations (in usd per share) 2.36 1.23 1.20
Discontinued operations, net of tax (in usd per share) (0.33) 0.58 0.67
Earnings per share - diluted (in usd per share) $ 2.03 $ 1.81 $ 1.87
Weighted average common shares outstanding - basic (in shares) 203,640 203,358 202,076
Weighted average common shares outstanding - diluted (in shares) 203,938 203,462 202,383
Regulated Operation      
Operating revenues:      
Revenues $ 1,789,637 $ 1,736,397 $ 1,390,992
Operating expenses:      
Total operation and maintenance 397,037 375,347 367,234
Income from continuing operations 166,312 138,501 143,298
Nonregulated Operation      
Operating revenues:      
Revenues 2,867,703 2,705,387 2,063,444
Operating expenses:      
Total operation and maintenance 2,573,835 2,450,347 1,842,697
Income from continuing operations $ 314,113 $ 112,267 $ 99,224