Segment Information

9 Months Ended

Sep. 30, 2022

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 utility 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 us 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, 2022	Electric		Gas		Other		Eliminations		Total
Operating revenues	$	292,270	$	42,798	$	—	$	—	$	335,068
Fuel, purchased supply and direct transmission expense (exclusive of depreciation and depletion shown separately below)	95,553		13,367		—		—		108,920
Utility margin	196,717		29,431		—		—		226,148
Operating and maintenance	40,914		13,740		—		—		54,654
Administrative and general	20,739		7,934		(527)		—		28,146
Property and other taxes	36,353		10,110		3		—		46,466
Depreciation and depletion	40,647		7,941		—		—		48,588
Operating income (loss)	58,064		(10,294)		524		—		48,294
Interest expense, net	(18,225)		(3,238)		(3,869)		—		(25,332)
Other income (expense), net	2,944		1,727		(514)		—		4,157
Income tax (expense) benefit	(1,006)		1,119		136		—		249
Net income (loss)	$	41,777	$	(10,686)	$	(3,723)	$	—	$	27,368
Total assets	$	5,741,879	$	1,365,896	$	6,438	$	—	$	7,114,213
Capital expenditures	$	122,522	$	29,379	$	—	$	—	$	151,901

Three Months Ended
September 30, 2021	Electric		Gas		Other		Eliminations		Total
Operating revenues	$	287,473	$	38,482	$	—	$	—	$	325,955
Fuel, purchased supply and direct transmission expense (exclusive of depreciation and depletion shown separately below)	89,375		9,284		—		—		98,659
Utility margin	198,098		29,198		—		—		227,296
Operating and maintenance	44,319		11,683		—		—		56,002
Administrative and general	16,302		8,746		(102)		—		24,946
Property and other taxes	34,066		9,504		2		—		43,572
Depreciation and depletion	38,634		8,478		—		—		47,112
Operating income (loss)	64,777		(9,213)		100		—		55,664
Interest expense, net	(20,429)		(1,640)		(1,214)		—		(23,283)
Other income (expense), net	3,348		2,016		(38)		—		5,326
Income tax (expense) benefit	(1,680)		725		(1,556)		—		(2,511)
Net income (loss)	$	46,016	$	(8,112)	$	(2,708)	$	—	$	35,196
Total assets	$	5,370,432	$	1,291,144	$	5,054	$	—	$	6,666,630
Capital expenditures	$	102,188	$	26,778	$	—	$	—	$	128,966

Nine Months Ended
September 30, 2022	Electric		Gas		Other		Eliminations		Total
Operating revenues	$	807,415	$	245,139	$	—	$	—	$	1,052,554
Fuel, purchased supply and direct transmission expense (exclusive of depreciation and depletion shown separately below)	230,872		108,122		—		—		338,994
Utility margin	576,543		137,017		—		—		713,560
Operating and maintenance	121,237		39,548		—		—		160,785
Administrative and general	63,591		23,757		(338)		—		87,010
Property and other taxes	109,204		30,998		7		—		140,209
Depreciation and depletion	121,256		24,449		—		—		145,705
Operating income	161,255		18,265		331		—		179,851
Interest expense, net	(56,031)		(9,951)		(7,099)		—		(73,081)
Other income (expense)	7,245		4,669		(123)		—		11,791
Income tax (expense) benefit	(2,790)		(1,263)		1,756		—		(2,297)
Net income (loss)	$	109,679	$	11,720	$	(5,135)	$	—	$	116,264
Total assets	$	5,741,879	$	1,365,896	$	6,438	$	—	$	7,114,213
Capital expenditures	$	312,804	$	73,535	$	—	$	—	$	386,339

Nine Months Ended
September 30, 2021	Electric		Gas		Other		Eliminations		Total
Operating revenues	$	798,984	$	225,991	$	—	$	—	$	1,024,975
Fuel, purchased supply and direct transmission expense (exclusive of depreciation and depletion shown separately below)	218,802		92,335		—		—		311,137
Utility margin	580,182		133,656		—		—		713,838
Operating and maintenance	122,013		37,304		—		—		159,317
Administrative and general	54,398		23,569		1,629		—		79,596
Property and other taxes	108,050		30,281		6		—		138,337
Depreciation and depletion	115,858		25,038		—		—		140,896
Operating income (loss)	179,863		17,464		(1,635)		—		195,692
Interest expense, net	(62,007)		(4,550)		(3,709)		—		(70,266)
Other income	8,392		4,035		1,505		—		13,932
Income tax (expense) benefit	(2,369)		(1,505)		20		—		(3,854)
Net income (loss)	$	123,879	$	15,444	$	(3,819)	$	—	$	135,504
Total assets	$	5,370,432	$	1,291,144	$	5,054	$	—	$	6,666,630
Capital expenditures	$	253,588	$	57,572	$	—	$	—	$	311,160