Segment Information

3 Months Ended

Mar. 31, 2022

Segment Reporting [Abstract]

Segment Information

Note 7 – Segment Information

As a result of the MountainWest acquisition on December 31, 2021, management updated its segment reporting from the historical presentation of two reportable segments to three reportable segments, with MountainWest presented as the pipeline and storage segment. Southwest comprises the natural gas distribution segment and Centuri comprises the utility infrastructure services segment.

Centuri accounts for the services provided to Southwest at contractual prices at contract inception. Accounts receivable for these services, which are not eliminated during consolidation, are presented in the table below:

(Thousands of dollars)	March 31, 2022		December 31, 2021
Centuri accounts receivable for services provided to Southwest	$	15,522	$	15,166

In order to reconcile (below) to net income as disclosed in the Condensed Consolidated Statements of Income, an Other column is included associated with impacts of corporate and administrative activities related to Southwest Gas Holdings, Inc. The financial information pertaining to the natural gas distribution, utility infrastructure services, and pipeline and storage segments are as follows:

(Thousands of dollars)	Natural Gas Distribution		Utility Infrastructure Services		Pipeline and Storage		Other		Total
Three Months Ended March 31, 2022
Revenues from external customers	$	676,539	$	495,544	$	66,993	$	—	$	1,239,076
Intersegment revenues	—		28,333		—		—		28,333
Total	$	676,539	$	523,877	$	66,993	$	—	$	1,267,409
Segment net income (loss)	$	111,795	$	(23,486)	$	16,930	$	(9,061)	$	96,178
Three Months Ended March 31, 2021
Revenues from external customers	$	521,932	$	339,772	$	—	$	—	$	861,704
Intersegment revenues	—		24,203		—		—		24,203
Total	$	521,932	$	363,975	$	—	$	—	$	885,907
Segment net income (loss)	$	118,715	$	(859)	$	—	$	(563)	$	117,293

(Thousands of dollars)	Natural Gas Distribution		Utility Infrastructure Services		Pipeline and Storage		Other		Total
Twelve Months Ended March 31, 2022
Revenues from external customers	$	1,676,397	$	2,212,087	$	66,993	$	—	$	3,955,477
Intersegment revenues	—		106,476		—		—		106,476
Total	$	1,676,397	$	2,318,563	$	66,993	$	—	$	4,061,953
Segment net income (loss)	$	180,215	$	17,793	$	16,930	$	(35,274)	$	179,664
Twelve Months Ended March 31, 2021
Revenues from external customers	$	1,369,690	$	1,852,910	$	—	$	—	$	3,222,600
Intersegment revenues	—		125,860		—		—		125,860
Total	$	1,369,690	$	1,978,770	$	—	$	—	$	3,348,460
Segment net income (loss)	$	194,234	$	84,207	$	—	$	(1,366)	$	277,075

The corporate and administrative activities for Southwest Gas Holdings, Inc. in the three- and twelve-month periods ended March 31, 2022 include expenses incurred related to shareholder activism, in addition to expenses and financing costs for the MountainWest acquisition, as well as expenses for services performed following December 31, 2021, but related to the acquisition.