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Business segment data
 6 Months Ended
Jun. 30, 2024
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 energy-related services, including cathodic protection.
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 supplying transmission and distribution 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 certain strategic initiatives. Also included are certain general and administrative costs (reflected in operation and maintenance expense) and interest expense, which were previously allocated to Knife River, Fidelity and the refining business which do not meet the criteria for income (loss) from discontinued operations.
Discontinued operations includes Knife River's operations, associated separation costs and interest on debt facilities repaid in connection with the Knife River separation. Discontinued operations also includes 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 of the Notes to Consolidated Financial Statements in the 2023 Annual Report. Information on the Company's segments was as follows:
Three Months EndedSix Months Ended
June 30,June 30,
 2024 2023 2024 2023 
 (In thousands)
External operating revenues:   
Regulated operations:
Electric$99,157 $90,989 $206,883 $186,686 
Natural gas distribution201,431 218,995 660,901 784,590 
Pipeline39,956 30,508 58,777 43,147 
 340,544 340,492 926,561 1,014,423 
Non-regulated operations:
Pipeline3,875 3,701 6,066 5,536 
Construction services703,124 746,933 1,328,726 1,501,265 
Other2 — 17 — 
 707,001 750,634 1,334,809 1,506,801 
Total external operating revenues$1,047,545 $1,091,126 $2,261,370 $2,521,224 
Intersegment operating revenues:    
Regulated operations:
Electric$64 $27 $93 $55 
Natural gas distribution49 69 105 139 
Pipeline8,854 7,699 39,129 33,958 
8,967 7,795 39,327 34,152 
Non-regulated operations:
Pipeline201 219 236 230 
Construction services249 — 336 — 
Other1,416 3,151 2,833 4,723 
1,866 3,370 3,405 4,953 
Total intersegment operating revenues$10,833 $11,165 $42,732 $39,105 
Operating income (loss):
Electric$18,631 $21,561 $41,419 $42,654 
Natural gas distribution1,204 2,428 59,442 60,932 
Pipeline23,272 13,886 45,922 26,926 
Construction services51,309 54,310 90,193 89,527 
Other(4,670)(10,154)(11,283)(19,486)
Total operating income$89,746 $82,031 $225,693 $200,553 
Income (loss) from continuing operations:
Regulated operations:
Electric$15,527 $16,338 $33,396 $32,945 
Natural gas distribution(5,007)(3,157)35,063 35,771 
Pipeline16,840 8,651 32,244 17,580 
27,360 21,832 100,703 86,296 
Non-regulated operations:
Pipeline419 286 73 (172)
Construction services38,971 41,167 67,186 69,976 
Other(6,176)84,348 (6,490)75,408 
33,214 125,801 60,769 145,212 
Income from continuing operations60,574 147,633 161,472 231,508 
Discontinued operations, net of tax(138)(16,941)(138)(62,464)
Net income$60,436 $130,692 $161,334 $169,044 
A reconciliation of reportable segment operating revenues to consolidated operating revenues is as follows:
Three Months EndedSix Months Ended
June 30,June 30,
2024 2023 2024 2023 
(In thousands)
Operating revenues reconciliation:
Total reportable segment operating revenues$1,056,960 $1,099,140 $2,301,252 $2,555,606 
Other revenue1,418 3,151 2,850 4,723 
Elimination of intersegment operating revenues(10,833)(11,165)(42,732)(39,105)
Total consolidated operating revenues$1,047,545 $1,091,126 $2,261,370 $2,521,224