EX-99 11 nfg-12312023xexhibit99.htm EX-99 Document

Exhibit 99
NATIONAL FUEL GAS
CONSOLIDATED STATEMENTS OF INCOME
(UNAUDITED)
Twelve Months Ended
December 31,
(Thousands of Dollars)20232022
INCOME
Operating Revenues:
Utility Revenues$832,081 $972,850 
Exploration and Production and Other Revenues
935,500 1,043,322 
Pipeline and Storage and Gathering Revenues
272,693 282,176 
2,040,274 2,298,348 
Operating Expenses:
Purchased Gas322,950 461,661 
Operation and Maintenance:
Utility208,592 196,766 
Exploration and Production and Other
132,222 172,827 
Pipeline and Storage and Gathering150,949 139,904 
Property, Franchise and Other Taxes88,910 102,885 
Depreciation, Depletion and Amortization428,763 377,811 
1,332,386 1,451,854 
Gain on Sale of Assets— 12,736 
Operating Income707,888 859,230 
Other Income (Expense):
Other Income (Deductions)15,552 5,886 
Interest Expense on Long-Term Debt(110,806)(119,982)
Other Interest Expense(22,369)(12,532)
Income Before Income Taxes590,265 732,602 
Income Tax Expense150,068 129,284 
Net Income Available for Common Stock$440,197 $603,318 
Earnings Per Common Share:
Basic:
Net Income Available for Common Stock$4.79 $6.59 
Diluted:
Net Income Available for Common Stock$4.77 $6.54 
Weighted Average Common Shares Outstanding:
Used in Basic Calculation91,832,178 91,489,650 
Used in Diluted Calculation92,308,466 92,198,015