Receivables and allowance for expected credit losses

6 Months Ended

Jun. 30, 2025

Credit Loss [Abstract]

Receivables and allowance for expected credit loss

Receivables and allowance for expected credit losses

Receivables consist primarily of trade receivables from the sale of goods and services net of expected credit losses. The Company's trade receivables are all due in 12 months or less.

The Company's expected credit losses are determined through a review using historical credit loss experience, changes in asset specific characteristics, current conditions and reasonable and supportable future forecasts, among other specific account data, and is performed at least quarterly. The Company develops and documents its methodology to determine its allowance for expected credit losses at each of its reportable business segments. Risk characteristics used by the business segments may include customer mix, knowledge of customers and general economic conditions of the various local economies, among others. Specific account balances are written off when management determines the amounts to be uncollectible. Management has reviewed the balance reserved through the allowance for expected credit losses and believes it is reasonable.

Details of the Company's expected credit losses were as follows:

	Electric		Natural gas distribution		Pipeline		Total
	(In thousands)
At December 31, 2024	$	473	$	1,366	$	—	$	1,839
Current expected credit loss provision	939		2,213		—		3,152
Less write-offs charged against the allowance	1,036		1,269		—		2,305
Credit loss recoveries collected	166		252		—		418
At March 31, 2025	$	542	$	2,562	$	—	$	3,104
Current expected credit loss provision	178		(151)		—		27
Less write-offs charged against the allowance	333		1,002		—		1,335
Credit loss recoveries collected	74		165		—		239
At June 30, 2025	$	461	$	1,574	$	—	$	2,035

	Electric		Natural gas distribution		Pipeline		Total
	(In thousands)
At December 31, 2023	$	414	$	1,189	$	—	$	1,603
Current expected credit loss provision	782		1,916		—		2,698
Less write-offs charged against the allowance	659		1,455		—		2,114
Credit loss recoveries collected	147		314		—		461
At March 31, 2024	$	684	$	1,964	$	—	$	2,648
Current expected credit loss provision	190		215		—		405
Less write-offs charged against the allowance	463		969		—		1,432
Credit loss recoveries collected	80		196		—		276
At June 30, 2024	$	491	$	1,406	$	—	$	1,897