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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Operating revenues:        
Operating revenues: $ 1,047,545 $ 1,091,126 $ 2,261,370 $ 2,521,224
Operating expenses:        
Total operation and maintenance 732,992 769,593 1,404,910 1,566,138
Purchased natural gas sold 94,591 115,866 353,192 486,881
Electric fuel and purchased power 29,716 20,432 62,333 44,789
Depreciation and amortization 55,882 53,498 111,631 105,730
Taxes, other than income 44,618 49,706 103,611 117,133
Total operating expenses 957,799 1,009,095 2,035,677 2,320,671
Operating income 89,746 82,031 225,693 200,553
Unrealized gain on retained shares in Knife River 0 140,020 0 140,020
Other income 14,662 9,959 28,449 20,333
Interest expense 28,609 26,459 57,314 50,412
Income before income taxes 75,799 205,551 196,828 310,494
Income taxes 15,225 57,918 35,356 78,986
Income from continuing operations 60,574 147,633 161,472 231,508
Discontinued operations, net of tax (138) (16,941) (138) (62,464)
Net income $ 60,436 $ 130,692 $ 161,334 $ 169,044
Earnings per share - basic:        
Income from continuing operations (in usd per share) $ 0.30 $ 0.72 $ 0.79 $ 1.14
Discontinued operations, net of tax (in usd per share) 0 (0.08) 0 (0.31)
Earnings per share - basic (in usd per share) 0.30 0.64 0.79 0.83
Earnings per share - diluted:        
Income from continuing operations (in usd per share) 0.30 0.72 0.79 1.14
Discontinued operations, net of tax (in usd per share) 0 (0.08) 0 (0.31)
Earnings per share - diluted (in usd per share) $ 0.30 $ 0.64 $ 0.79 $ 0.83
Weighted average common shares outstanding - basic (in shares) 203,888 203,635 203,834 203,630
Weighted average common shares outstanding - diluted (in shares) 204,582 203,877 204,364 203,894
Regulated operation        
Operating revenues:        
Operating revenues: $ 340,544 $ 340,492 $ 926,561 $ 1,014,423
Operating expenses:        
Total operation and maintenance 100,709 95,483 206,389 197,522
Income from continuing operations 27,360 21,832 100,703 86,296
Nonregulated operation        
Operating revenues:        
Operating revenues: 707,001 750,634 1,334,809 1,506,801
Operating expenses:        
Total operation and maintenance 632,283 674,110 1,198,521 1,368,616
Income from continuing operations $ 33,214 $ 125,801 $ 60,769 $ 145,212