Segment Information

9 Months Ended

Sep. 30, 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
September 30, 2020	Electric		Gas		Other		Eliminations		Total
Operating revenues	$	244,155	$	36,455	$	—	$	—	$	280,610
Cost of sales	61,155		6,883		—		—		68,038
Gross margin	183,000		29,572		—		—		212,572
Operating, general and administrative	54,367		20,059		(1,104)		—		73,322
Property and other taxes	35,532		9,772		2		—		45,306
Depreciation and depletion	36,670		7,619		—		—		44,289
Operating income (loss)	56,431		(7,878)		1,102		—		49,655
Interest expense, net	(21,286)		(1,574)		(817)		—		(23,677)
Other income (expense), net	1,559		459		(1,233)		—		785
Income tax benefit	1,197		607		899		—		2,703
Net income (loss)	$	37,901	$	(8,386)	$	(49)	$	—	$	29,466
Total assets	$	4,430,279	$	1,634,606	$	10,754	$	—	$	6,075,639
Capital expenditures	$	87,432	$	19,073	$	—	$	—	$	106,505

Three Months Ended
September 30, 2019	Electric		Gas		Other		Eliminations		Total
Operating revenues	$	241,237	$	33,599	$	—	$	—	$	274,836
Cost of sales	58,768		5,459		—		—		64,227
Gross margin	182,469		28,140		—		—		210,609
Operating, general and administrative	57,433		18,830		735		—		76,998
Property and other taxes	34,731		9,355		3		—		44,089
Depreciation and depletion	35,824		7,342		—		—		43,166
Operating income (loss)	54,481		(7,387)		(738)		—		46,356
Interest expense, net	(19,481)		(1,588)		(2,653)		—		(23,722)
Other (expense) income, net	(677)		(344)		612		—		(409)
Income tax (expense) benefit	(1,415)		(232)		1,092		—		(555)
Net income (loss)	$	32,908	$	(9,551)	$	(1,687)	$	—	$	21,670
Total assets	$	4,632,077	$	1,173,513	$	4,590	$	—	$	5,810,180
Capital expenditures	$	70,063	$	25,784	$	—	$	—	$	95,847

Nine Months Ended
September 30, 2020	Electric		Gas		Other		Eliminations		Total
Operating revenues	$	706,718	$	178,507	$	—	$	—	$	885,225
Cost of sales	173,294		47,059		—		—		220,353
Gross margin	533,424		131,448		—		—		664,872
Operating, general and administrative	166,854		61,348		(4,160)		—		224,042
Property and other taxes	107,079		29,700		7		—		136,786
Depreciation and depletion	110,692		23,644		—		—		134,336
Operating income	148,799		16,756		4,153		—		169,708
Interest expense, net	(63,585)		(4,824)		(3,889)		—		(72,298)
Other income (expense)	3,131		863		(4,967)		—		(973)
Income tax benefit (expense)	2,609		(467)		3,085		—		5,227
Net income (loss)	$	90,954	$	12,328	$	(1,618)	$	—	$	101,664
Total assets	$	4,430,279	$	1,634,606	$	10,754	$	—	$	6,075,639
Capital expenditures	$	230,524	$	52,463	$	—	$	—	$	282,987

Nine Months Ended
September 30, 2019	Electric		Gas		Other		Eliminations		Total
Operating revenues	$	733,933	$	195,842	$	—	$	—	$	929,775
Cost of sales	178,423		57,283		—		—		235,706
Gross margin	555,510		138,559		—		—		694,069
Operating, general and administrative	174,544		60,803		3,569		—		238,916
Property and other taxes	104,612		28,569		7		—		133,188
Depreciation and depletion	107,595		22,171		—		—		129,766
Operating income (loss)	168,759		27,016		(3,576)		—		192,199
Interest expense, net	(58,301)		(4,599)		(8,123)		—		(71,023)
Other (expense) income	(1,458)		(874)		3,196		—		864
Income tax (expense) benefit	(4,937)		493		24,542		—		20,098
Net income	$	104,063	$	22,036	$	16,039	$	—	$	142,138
Total assets	$	4,632,077	$	1,173,513	$	4,590	$	—	$	5,810,180
Capital expenditures	$	186,155	$	56,719	$	—	$	—	$	242,874