Segment Information

6 Months Ended

Jun. 30, 2019

Segment Reporting Information [Line Items]

Segment Reporting Disclosure [Text Block]

Segment Information

Our reportable business segments are primarily engaged in the electric and natural gas business. The remainder of our operations are presented as other, which primarily consists of unallocated corporate costs and unregulated activity.

We evaluate the performance of these segments based on gross margin. The accounting policies of the operating segments are the same as the parent except that the parent allocates some of its operating expenses to the operating segments according to a methodology designed by management for internal reporting purposes and involves estimates and assumptions.

Financial data for the business segments are as follows (in thousands):

Three Months Ended
June 30, 2019	Electric			Gas			Other			Eliminations		Total
Operating revenues	$	219,659		$	51,060		$	—		$	—	$	270,719
Cost of sales	42,661			13,083			—			—		55,744
Gross margin	176,998			37,977			—			—		214,975
Operating, general and administrative	59,328			20,965			533			—		80,826
Property and other taxes	34,834			9,474			2			—		44,310
Depreciation and depletion	33,720			7,296			—			—		41,016
Operating income (loss)	49,116			242			(535		)	—		48,823
Interest expense	(19,285		)	(1,501		)	(2,725		)	—		(23,511		)
Other (expense) income	(220		)	(53		)	397			—		124
Income tax (expense) benefit	(1,713		)	(354		)	24,293			—		22,226
Net income (loss)	$	27,898		$	(1,666	)	$	21,430		$	—	$	47,662
Total assets	$	4,568,469		$	1,147,330		$	4,636		$	—	$	5,720,435
Capital expenditures	$	63,785		$	17,665		$	—		$	—	$	81,450

Three Months Ended
June 30, 2018	Electric			Gas			Other			Eliminations		Total
Operating revenues	$	209,755		$	52,062		$	—		$	—	$	261,817
Cost of sales	19,613			12,577			—			—		32,190
Gross margin	190,142			39,485			—			—		229,627
Operating, general and administrative	52,894			19,650			1,290			—		73,834
Property and other taxes	33,880			9,160			2			—		43,042
Depreciation and depletion	36,139			7,394			8			—		43,541
Operating income (loss)	67,229			3,281			(1,300		)	—		69,210
Interest expense	(20,318		)	(1,161		)	(1,718		)	—		(23,197		)
Other (expense) income	(52		)	(191		)	1,119			—		876
Income tax (expense) benefit	(2,649		)	492			(945		)	—		(3,102		)
Net income (loss)	$	44,210		$	2,421		$	(2,844	)	$	—	$	43,787
Total assets	$	4,351,359		$	1,072,173		$	15,442		$	—	$	5,438,974
Capital expenditures	$	52,844		$	11,607		$	—		$	—	$	64,451

Six Months Ended
June 30, 2019	Electric			Gas			Other			Eliminations		Total
Operating revenues	$	492,696		$	162,243		$	—		$	—	$	654,939
Cost of sales	119,655			51,824			—			—		171,479
Gross margin	373,041			110,419			—			—		483,460
Operating, general and administrative	117,111			41,973			2,834			—		161,918
Property and other taxes	69,881			19,214			4			—		89,099
Depreciation and depletion	71,771			14,829			—			—		86,600
Operating income (loss)	114,278			34,403			(2,838		)	—		145,843
Interest expense	(38,820		)	(3,011		)	(5,470		)	—		(47,301		)
Other (expense) income	(781		)	(530		)	2,584			—		1,273
Income tax (expense) benefit	(3,522		)	725			23,450			—		20,653
Net income	$	71,155		$	31,587		$	17,726		$	—	$	120,468
Total assets	4,568,469			1,147,330			4,636			—		5,720,435
Capital expenditures	116,092			30,935			—			—		147,027

Six Months Ended
June 30, 2018	Electric			Gas			Other			Eliminations		Total
Operating revenues	$	448,097		$	155,222		$	—		$	—	$	603,319
Cost of sales	76,886			51,381			—			—		128,267
Gross margin	371,211			103,841			—			—		475,052
Operating, general and administrative	107,542			40,869			(232		)	—		148,179
Property and other taxes	67,373			18,478			4			—		85,855
Depreciation and depletion	72,292			14,988			16			—		87,296
Operating income	124,004			29,506			212			—		153,722
Interest expense	(39,838		)	(3,015		)	(3,314		)	—		(46,167		)
Other income (expense)	438			(83		)	(608		)	—		(253		)
Income tax expense	(3,147		)	(1,734		)	(135		)	—		(5,016		)
Net income (loss)	$	81,457		$	24,674		$	(3,845	)	$	—	$	102,286
Total assets	$	4,351,359		$	1,072,173		$	15,442		$	—	5,438,974
Capital expenditures	$	95,742		$	20,714		$	—		$	—	116,456