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Pay vs Performance Disclosure - USD ($)
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Pay vs Performance Disclosure          
Pay vs Performance Disclosure, Table
Year1
Summary Compensation Table Total Compensation for Principal Executive Officer (PEO)2
($)
Compensation Actually Paid to PEO3
($)
Average Summary Compensation Table Total Compensation for Non-PEO Named Executive Officers4
($)
Average Compensation Actually Paid to Non-PEO Named Executive Officers5
($)
Value of initial fixed $100 investment based on:
Net Income8
(in thousands)
($)
Company Selected Measure - Business Segment Earnings9
(in thousands)
($)
Total Stockholder Return6
($)
Peer Group Total Stockholder Return7
($)
20237,100,593 4,987,034 2,113,640 1,648,546 110.18 136.68 414,707 288,170 
20225,257,288 5,644,274 1,901,639 1,998,863 111.98 123.90 367,489 379,149 
20215,210,467 7,143,972 1,810,584 2,273,834 110.37 128.00 378,131 385,210 
20206,423,410 5,664,783 2,042,921 1,901,274 91.69 101.04 390,205 394,570 
       
Named Executive Officers, Footnote Our PEO for years 2020 through 2023 was David L. Goodin. Our non-PEO named executive officers were as follows:
2020 to 2022 - Jason L. Vollmer, David C. Barney, Jeffrey S. Thiede and Nicole A. Kivisto
2023 - Jason L. Vollmer, Jeffrey S. Thiede, Nicole A. Kivisto and Anne M. Jones
       
Peer Group Issuers, Footnote Represents the value of $100 invested in the compensation peer group company stock on December 31, 2019, as of December 31, 2020, December 31, 2021, December 31, 2022, and December 31, 2023, assuming dividends are reinvested in the compensation peer group stock at the frequency paid. Returns of each peer group company are weighted according to the peer group company’s market capitalization at the beginning of the period. Our compensation benchmarking peer group companies for 2020, 2021, 2022 and 2023 included:
2020 and 2021
2022 and 2023*
Alliant EnergyAlliant Energy
Ameren CorporationAmeren Corporation
Atmos Energy CorporationAtmos Energy Corporation
Black Hills CorporationBlack Hills Corporation
CMS Energy CorporationCMS Energy Corporation
Dycom Industries, Inc.Dycom Industries, Inc.
EMCOR Group, Inc.EMCOR Group, Inc.
Evergy, Inc.Evergy, Inc.
Granite Construction IncorporatedGranite Construction Incorporated
Jacobs Engineering Group Inc.KRB, Inc.
KRB, Inc.Martin Marietta Materials, Inc.
Martin Marietta Materials, Inc.MasTec, Inc.
MasTec, Inc.MYR Group, Inc.*
NiSource Inc.NiSource Inc.
Pinnacle West Capital CorporationPinnacle West Capital Corporation
Portland General Electric CompanyPortland General Electric Company
Quanta Services, Inc.Quanta Services, Inc.
Southwest Gas Holdings, Inc.Southwest Gas Holdings, Inc.
Summit Materials, Inc.Summit Materials, Inc.
Vulcan Materials CompanyVulcan Materials Company
WEC Energy Group, Inc.WEC Energy Group, Inc.
*Jacobs Engineering Group, Inc. was replaced with MYR Group Inc. in 2022 due to size.
Total stockholder return for the peer group companies were as follows:
12/31/201912/31/202012/31/202112/31/202212/31/2023
2020 & 2021 Peer Group$100.00 $101.04 $128.00 $124.22 $136.60 
2022 & 2023 Peer Group$100.00 $100.01 $126.85 $123.90 $136.68 
       
PEO Total Compensation Amount $ 7,100,593 $ 5,257,288 $ 5,210,467 $ 6,423,410  
PEO Actually Paid Compensation Amount $ 4,987,034 5,644,274 7,143,972 5,664,783  
Adjustment To PEO Compensation, Footnote To arrive at 2023 CAP for Mr. Goodin, total compensation as reported in the 2023 SCT was adjusted for the following:
2023
SCT Total Compensation for the PEO7,100,593 
less: Reported Value of Stock Awards in the SCTa
3,359,339 
plus: Stock Award Adjustmentsa,b
1,418,874 
less: Change in Actuarial Present Value of Defined Benefit and Pension Plans as Reported in the SCT173,094 
plus: Aggregate Service Cost and Prior Service Costs on Defined Benefit and Pension Plans— 
CAP for the PEO4,987,034 
a
Equity compensation grant date and year-end fair value for time-vesting awards was determined by the closing stock price on the date of grant or year-end, as applicable.
b
Stock Award Adjustments in determining CAP:
YearYear-end Fair Value of Equity Awards Granted in the Year that are UnvestedYear-over-Year Change in Fair Value of Equity Awards Granted in Prior Years that are UnvestedFair Value as of Vesting Date of Equity Awards Granted and Vested in the YearYear-over-Year Change in Fair Value of Equity Award Granted in Prior Years that Vested in the YearPrior Year-end Fair Value of Equity Awards that Failed to Meet Vesting Conditions in the YearValue of Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Fair Value or Total CompensationTotal Equity Award Adjustments
20233,088,246 (783,245)— (886,127)— — 1,418,874 
       
Non-PEO NEO Average Total Compensation Amount $ 2,113,640 1,901,639 1,810,584 2,042,921  
Non-PEO NEO Average Compensation Actually Paid Amount $ 1,648,546 1,998,863 2,273,834 1,901,274  
Adjustment to Non-PEO NEO Compensation Footnote
4
Represents the average total compensation of our non-PEO named executive officers as shown in the SCT for the respective year.
5
To arrive at the Average 2023 CAP for our non-PEO named executive officers, total compensation as reported in the 2023 SCT was adjusted for the following:
Average of SCT Total Compensation for Non-PEO Named Executive Officers2,113,640 
less: Reported Value of Stock Awards in the SCTa
827,266 
plus: Stock Award Adjustmentsa,b
386,066 
less: Change in Actuarial Present Value of Defined Benefit and Pension Plans as Reported in the SCT23,894 
plus: Aggregate Service Cost and Prior Service Costs on Defined Benefit and Pension Plans— 
Average CAP for the Non-PEO Named Executive Officers1,648,546 
a Equity compensation grant date and year-end fair value for time-vesting awards was determined by the closing stock price on the date of grant or year-end, as applicable.
b Stock Award Adjustments in determining CAP:
YearYear-end Fair Value of Equity Awards Granted in the Year that are UnvestedYear-over-Year Change in Fair Value of Equity Awards Granted in Prior Years that are UnvestedFair Value as of Vesting Date of Equity Awards Granted and Vested in the YearYear-over-Year Change in Fair Value of Equity Award Granted in Prior Years that Vested in the YearPrior Year-end Fair Value of Equity Awards that Failed to Meet Vesting Conditions in the YearValue of Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Fair Value or Total CompensationTotal Equity Award Adjustments
2023761,063 (174,537)— (200,460)— — 386,066 
       
Compensation Actually Paid vs. Total Shareholder Return
CAP vs. TSR
Our TSR is a reflection of our stock price and dividends paid over a period of time and is important to stockholders as it measures the performance of an investment in our company stock in the marketplace. The following chart depicts the PEO and average non-PEO named executive officer CAP compared to the value of $100 invested in company and peer company stock on December 31, 2019 as of December 31, 2020, December 31, 2021, December 31, 2022, and December 31, 2023, assuming dividends are reinvested in company stock at the frequency paid.
3456
       
Compensation Actually Paid vs. Net Income
CAP vs. Net Income
The following charts depicts the PEO and average non-PEO named executive officer CAP compared to the company’s net income for 2020, 2021, 2022 and 2023.
3604
       
Compensation Actually Paid vs. Company Selected Measure
CAP vs. Business Segment Earnings
The following charts depicts the PEO and average non-PEO named executive officer CAP compared to the company’s Business Segment Earnings for 2020, 2021, 2022 and 2023.
3758
       
Total Shareholder Return Vs Peer Group
CAP vs. TSR
Our TSR is a reflection of our stock price and dividends paid over a period of time and is important to stockholders as it measures the performance of an investment in our company stock in the marketplace. The following chart depicts the PEO and average non-PEO named executive officer CAP compared to the value of $100 invested in company and peer company stock on December 31, 2019 as of December 31, 2020, December 31, 2021, December 31, 2022, and December 31, 2023, assuming dividends are reinvested in company stock at the frequency paid.
3456
       
Tabular List, Table
Performance Metrics Most Closely Linked to CAP for 2023
Business Segment Earnings
Electric & Natural Gas Distribution Earnings
Construction Services Earnings before income tax, interest, depreciation and amortization (EBITDA)
Strategic Initiatives including work associated with the spinoff of Knife River and the strategic review of the construction services business to maximize its value.
       
Total Shareholder Return Amount $ 110.18 111.98 110.37 91.69  
Peer Group Total Shareholder Return Amount 136.68 123.90 128.00 101.04  
Net Income (Loss) $ 414,707,000 $ 367,489,000 $ 378,131,000 $ 390,205,000  
Company Selected Measure Amount 288,170,000 379,149,000 385,210,000 394,570,000  
PEO Name David L. Goodin        
Additional 402(v) Disclosure
As required by Section 953(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act and Item 402(v) of Regulation S-K, we are providing information regarding the Compensation Actually Paid (CAP), as defined by SEC rules, to our named executive officers versus company financial performance. The CAP amounts shown in the table below do not reflect the actual amount of compensation earned by or paid to our named executive officers during the applicable year.
Represents Mr. Goodin’s total compensation as shown in the Summary Compensation Table (SCT) for the respective years.Represents value of $100 invested in company stock on December 31, 2019, as of December 31, 2020, December 31, 2021, December 31, 2022 and December 31, 2023, assuming dividends are reinvested in company stock at the frequency paid.    Represents GAAP Net Income reported for the company in 2020, 2021, 2022 and 2023.
9     Business segment earnings represent the earnings generated by our strategic business units lead by our non-corporate executives. The combined earnings of each of these strategic business units plus results of activities classified as Other and Discontinued Operations reflect net income as reported in our financial statements as follows:
2023202220212020
Electric & Natural Gas Distribution120,079 102,248 103,502 99,650 
Pipeline46,918 35,288 40,896 37,012 
Construction Services137,230 124,781 109,402 109,721 
Construction Materials & Contracting(18,456)116,220 129,755 147,325 
Business Segment Earnings1
285,771 378,537 383,555 393,708 
Other128,936 (11,048)(5,424)(3,503)
Net Income414,707 367,489 378,131 390,205 
1 Business Segment Earnings includes earnings from continuing and discontinued operations associated with each business segment.
Business Segment Earnings285,771 378,537 383,555 393,708 
Adjustments approved by the Compensation Committee for Incentive Purposes2,399 612 1,655 862 
Business Segment Earnings for Incentive Purposes2
288,170 379,149 385,210 394,570 
2 Business Segment Earnings are adjusted for certain events approved by the compensation committee. Business Segment Earnings for incentive compensation purposes.
2023 Most Important Financial Measures
The financial performance measures identified as the most important measures used by the company to link PEO and non-PEO named executive officer 2023 CAP to company performance are listed below in unranked order each of which is described in more detail in the “Compensation Discussion and Analysis”.
Descriptions of the Information Presented in the Pay Versus Performance Table
We are providing the following graphics to illustrate the relationship between our PEO CAP and our non-PEO named executive officers’ CAP as a group and company performance, as set forth and described in and under the “Pay Versus Performance” table, including the company’s cumulative TSR, net income and Business Segment Earnings. In addition, we are providing a graphic to illustrate the relationship between the company’s cumulative TSR and our compensation benchmarking peer group’s cumulative TSR.
       
Measure:: 1          
Pay vs Performance Disclosure          
Name Business Segment Earnings        
Measure:: 2          
Pay vs Performance Disclosure          
Name Electric & Natural Gas Distribution Earnings        
Measure:: 3          
Pay vs Performance Disclosure          
Name Construction Services Earnings before income tax, interest, depreciation and amortization (EBITDA)        
Measure:: 4          
Pay vs Performance Disclosure          
Name Strategic Initiatives including work associated with the spinoff of Knife River and the strategic review of the construction services business to maximize its value.        
Jacobs Engineering Group Inc. [Member]          
Pay vs Performance Disclosure          
Peer Group Total Shareholder Return Amount $ 136.60 $ 124.22 $ 128.00 $ 101.04 $ 100.00
MYR Group, Inc. [Member]          
Pay vs Performance Disclosure          
Peer Group Total Shareholder Return Amount 136.68 $ 123.90 $ 126.85 $ 100.01 $ 100.00
PEO | Stock Awards Values Reported [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 3,359,339        
PEO | Stock Awards Adjustments [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 1,418,874        
PEO | Change in Pension Value [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 173,094        
PEO | Aggregated Service Cost and Prior Service Cost [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0        
PEO | Equity Awards Granted During the Year, Unvested [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation Amount, Equity Awards 3,088,246        
PEO | Equity Awards Granted in Prior Years, Unvested [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation Amount, Equity Awards (783,245)        
PEO | Equity Awards Granted During the Year, Vested [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation Amount, Equity Awards 0        
PEO | Equity Awards Granted in Prior Years, Vested [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation Amount, Equity Awards (886,127)        
PEO | Equity Awards that Failed to Meet Vesting Conditions [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation Amount, Equity Awards 0        
PEO | Dividends Or Other Earnings Paid On Equity Awards Not Otherwise Reflected In Value Or Total Compensation [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation Amount, Equity Awards 0        
Non-PEO NEO | Stock Awards Values Reported [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 827,266        
Non-PEO NEO | Stock Awards Adjustments [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 386,066        
Non-PEO NEO | Change in Pension Value [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 23,894        
Non-PEO NEO | Aggregated Service Cost and Prior Service Cost [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0        
Non-PEO NEO | Equity Awards Granted During the Year, Unvested [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation Amount, Equity Awards 761,063        
Non-PEO NEO | Equity Awards Granted in Prior Years, Unvested [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation Amount, Equity Awards (174,537)        
Non-PEO NEO | Equity Awards Granted During the Year, Vested [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation Amount, Equity Awards 0        
Non-PEO NEO | Equity Awards Granted in Prior Years, Vested [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation Amount, Equity Awards (200,460)        
Non-PEO NEO | Equity Awards that Failed to Meet Vesting Conditions [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation Amount, Equity Awards 0        
Non-PEO NEO | Dividends Or Other Earnings Paid On Equity Awards Not Otherwise Reflected In Value Or Total Compensation [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation Amount, Equity Awards $ 0