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FAIR VALUE MEASUREMENTS (Tables) | 6 Months Ended
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Jun. 30, 2026
Fair Value Disclosures [Abstract] |
Schedule of fair value of assets and liabilities measured on a recurring basis categorized by level within the fair value hierarchy | The following tables summarize our financial assets and liabilities that were accounted for at fair value on a recurring basis, categorized by level within the fair value hierarchy:
|  | June 30, 2026
(in millions) |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Derivative assets |  |  |  |  |  |  |  |
Natural gas contracts |  | $ | 1.4 |  |  | $ | 19.4 |  |  | $ | — |  |  | $ | 20.8 |
FTRs |  | — |  |  | — |  |  | 24.3 |  |  | 24.3 |
Total derivative assets |  | $ | 1.4 |  |  | $ | 19.4 |  |  | $ | 24.3 |  |  | $ | 45.1 |
Investments held in rabbi trust |  | $ | 43.4 |  |  | $ | — |  |  | $ | — |  |  | $ | 43.4 |
Derivative liabilities |  |  |  |  |  |  |  |
Natural gas contracts |  | $ | 35.0 |  |  | $ | 6.9 |  |  | $ | — |  |  | $ | 41.9 |
|  | December 31, 2025
(in millions) |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Derivative assets |  |  |  |  |  |  |  |
Natural gas contracts |  | $ | 1.5 |  |  | $ | 18.3 |  |  | $ | — |  |  | $ | 19.8 |
FTRs |  | — |  |  | — |  |  | 6.5 |  |  | 6.5 |
Total derivative assets |  | $ | 1.5 |  |  | $ | 18.3 |  |  | $ | 6.5 |  |  | $ | 26.3 |
Investments held in rabbi trust |  | $ | 42.0 |  |  | $ | — |  |  | $ | — |  |  | $ | 42.0 |
Derivative liabilities |  |  |  |  |  |  |  |
Natural gas contracts |  | $ | 23.3 |  |  | $ | 8.4 |  |  | $ | — |  |  | $ | 31.7 |
FTRs |  | — |  |  | — |  |  | 0.8 |  |  | 0.8 |
Total derivative liabilities |  | $ | 23.3 |  |  | $ | 8.4 |  |  | $ | 0.8 |  |  | $ | 32.5 |
Reconciliation of changes in fair value of items categorized as level 3 measurements | The following table summarizes the changes to derivatives classified as Level 3 in the fair value hierarchy:
|  | Three Months Ended June 30 |  | Six Months Ended June 30
(in millions) |  | 2026 |  | 2025 |  | 2026 |  | 2025
Balance at the beginning of the period |  | $ | 1.9 |  |  | $ | 3.0 |  |  | $ | 5.7 |  |  | $ | 7.8 |
Purchases |  | 28.2 |  |  | 22.5 |  |  | 28.2 |  |  | 23.7 |
Net realized and unrealized gains included in earnings (1) |  | — |  |  | 0.3 |  |  | — |  |  | — |
Sales |  | (0.1) |  |  | — |  |  | (0.4) |  |  | — |
Settlements |  | (5.7) |  |  | (6.8) |  |  | (9.2) |  |  | (12.5) |
Balance at the end of the period |  | $ | 24.3 |  |  | $ | 19.0 |  |  | $ | 24.3 |  |  | $ | 19.0 |
(1)Amounts relate to FTRs and TCRs included in our non-utility energy infrastructure segment. These net realized and unrealized gains were recorded in operating revenues on our income statements.
Schedule of carrying value and fair value of financial instruments not recorded at fair value | The following table shows the financial instruments included on our balance sheets that were not recorded at fair value:
|  | June 30, 2026 |  | December 31, 2025
(in millions) |  | Carrying Amount |  | Fair Value |  | Carrying Amount |  | Fair Value
Preferred stock of subsidiary |  | $ | 30.4 |  |  | $ | 21.3 |  |  | $ | 30.4 |  |  | $ | 21.2 |
Long-term debt, including current portion |  | 20,629.8 |  |  | 20,140.2 |  |  | 20,017.5 |  |  | 19,609.1 |

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- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Name Accounting Standards Codification -Section 55 -Paragraph 10 -SubTopic 10 -Topic 825 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482881/825-10-55-10 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-13 Reference 3: http://www.xbrl.org/2003/role/exampleRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482881/825-10-55-12 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-11 + Details
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- Definition Tabular disclosure of financial instrument classified as a derivative asset (liability) after deduction of derivative liability (asset) using recurring unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-3 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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