Segment Information

3 Months Ended

Mar. 31, 2020

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
March 31, 2020	Electric			Gas			Other			Eliminations		Total
Operating revenues	$	244,625		$	90,630		$	—		$	—	$	335,255
Cost of sales	63,834			27,438			—			—		91,272
Gross margin	180,791			63,192			—			—		243,983
Operating, general and administrative	58,888			22,301			(2,184		)	—		79,005
Property and other taxes	34,736			9,761			2			—		44,499
Depreciation and depletion	37,176			8,089			—			—		45,265
Operating income	49,991			23,041			2,182			—		75,214
Interest expense, net	(20,816		)	(1,604		)	(1,914		)	—		(24,334		)
Other income (expense), net	613			95			(2,690		)	—		(1,982		)
Income tax benefit (expense)	656			(737		)	1,887			—		1,806
Net income (loss)	$	30,444		$	20,795		$	(535	)	$	—	$	50,704
Total assets	$	4,345,943		$	1,616,381		$	4,619		$	—	$	5,966,943
Capital expenditures	$	63,348		$	15,023		$	—		$	—	$	78,371

Three Months Ended
March 31, 2019	Electric			Gas			Other			Eliminations		Total
Operating revenues	$	273,037		$	111,183		$	—		$	—	$	384,220
Cost of sales	76,994			38,741			—			—		115,735
Gross margin	196,043			72,442			—			—		268,485
Operating, general and administrative	57,783			21,008			2,301			—		81,092
Property and other taxes	35,047			9,740			2			—		44,789
Depreciation and depletion	38,051			7,533			—			—		45,584
Operating income (loss)	65,162			34,161			(2,303		)	—		97,020
Interest expense, net	(19,535		)	(1,510		)	(2,745		)	—		(23,790		)
Other (expense) income, net	(561		)	(477		)	2,187			—		1,149
Income tax (expense) benefit	(1,809		)	1,079			(843		)	—		(1,573		)
Net income (loss)	$	43,257		$	33,253		$	(3,704	)	$	—	$	72,806
Total assets	$	4,544,043		$	1,151,929		$	4,683		$	—	$	5,700,655
Capital expenditures	$	52,307		$	13,270		$	—		$	—	$	65,577