Segment and Related Information

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Segment and Related Information

(20)          Segment and Related 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 management for internal reporting purposes and involves estimates and assumptions.

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

December 31, 2022	Electric		Gas		Other		Eliminations		Total
Operating revenues	$	1,106,565	$	371,272	$	—	$	—	$	1,477,837
Fuel, purchased supply and direct transmission expense (exclusive of depreciation and depletion shown separately below)	324,434		167,577		—		—		492,011
Utility Margin	782,131		203,695		—		—		985,826
Operating and maintenance	167,798		53,629		—		—		221,427
Administrative and general	82,405		31,002		369		—		113,776
Property and other taxes	149,781		42,734		9		—		192,524
Depreciation and depletion	162,404		32,616		—		—		195,020
Operating income (loss)	219,743		43,714		(378)		—		263,079
Interest expense, net	(74,420)		(13,030)		(12,660)		—		(100,110)
Other income, net	12,491		6,399		544		—		19,434
Income tax benefit (expense)	798		(3,108)		2,915		—		605
Net income (loss)	$	158,612	$	33,975	$	(9,579)	$	—	$	183,008
Total assets	$	5,892,508	$	1,418,059	$	7,216	$	—	$	7,317,783
Capital expenditures	$	409,707	$	105,433	$	—	$	—	$	515,140

December 31, 2021	Electric		Gas		Other		Eliminations		Total
Operating revenues	$	1,052,182	$	320,134	$	—	$	—	$	1,372,316
Fuel, purchased supply and direct transmission expense (exclusive of depreciation and depletion shown separately below)	294,820		130,728		—		—		425,548
Utility margin	757,362		189,406		—		—		946,768
Operating and maintenance	156,383		51,920		—		—		208,303
Administrative and general	72,641		27,550		1,682		—		101,873
Property and other taxes	134,910		38,526		8		—		173,444
Depreciation and depletion	154,626		32,841		—		—		187,467
Operating income (loss)	238,802		38,569		(1,690)		—		275,681
Interest expense, net	(82,678)		(6,083)		(4,913)		—		(93,674)
Other income, net	3,676		3,046		1,530		—		8,252
Income tax (expense) benefit	(2,512)		(2,640)		1,733		—		(3,419)
Net income (loss)	$	157,288	$	32,892	$	(3,340)	$	—	$	186,840
Total assets	$	5,432,578	$	1,342,031	$	5,834	$	—	$	6,780,443
Capital expenditures	$	354,775	$	79,553	$	—	$	—	$	434,328

December 31, 2020	Electric		Gas		Other		Eliminations		Total
Operating revenues	$	940,815	$	257,855	$	—	$	—	$	1,198,670
Fuel, purchased supply and direct transmission expense (exclusive of depreciation and depletion shown separately below)	236,581		69,609		—		—		306,190
Utility margin	704,234		188,246		—		—		892,480
Operating and maintenance	149,220		53,771		—		—		202,991
Administrative and general	69,602		26,311		(1,789)		—		94,124
Property and other taxes	140,621		38,887		9		—		179,517
Depreciation and depletion	147,968		31,676		—		—		179,644
Operating income	196,823		37,601		1,780		—		236,204
Interest expense, net	(85,487)		(6,341)		(4,984)		—		(96,812)
Other income (expense), net	4,867		2,704		(2,718)		—		4,853
Income tax benefit (expense)	11,282		(2,426)		2,114		—		10,970
Net income (loss)	$	127,485	$	31,538	$	(3,808)	$	—	$	155,215
Total assets	$	5,126,589	$	1,251,240	$	11,620	$	—	$	6,389,449
Capital expenditures	$	324,369	$	81,393	$	—	$	—	$	405,762