<SEC-DOCUMENT>0001111711-22-000035.txt : 20221028
<SEC-HEADER>0001111711-22-000035.hdr.sgml : 20221028
<ACCEPTANCE-DATETIME>20220920091723
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001111711-22-000035
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20220920

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NISOURCE INC.
		CENTRAL INDEX KEY:			0001111711
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRIC & OTHER SERVICES COMBINED [4931]
		IRS NUMBER:				352108964
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		801 EAST 86TH AVE
		CITY:			MERRILLVILLE
		STATE:			IN
		ZIP:			46410-6272
		BUSINESS PHONE:		2196475200

	MAIL ADDRESS:	
		STREET 1:		801 EAST 86TH AVE
		CITY:			MERRILLVILLE
		STATE:			IN
		ZIP:			46410-6272

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NISOURCE INC/DE
		DATE OF NAME CHANGE:	20001103

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NEW NISOURCE INC
		DATE OF NAME CHANGE:	20000412
</SEC-HEADER>
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<title>Document</title></head><body><div id="i8584f20364d14cd8abdc0fffb33f19e6_33"></div><div style="min-height:72pt;width:100%"><div style="text-align:right"><img alt="image_1.jpg" src="image_1.jpg" style="height:38px;margin-bottom:5pt;vertical-align:text-bottom;width:192px"></div></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">September 20, 2022&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;  </font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;text-decoration:underline">By&#58; EDGAR Transmission - Correspondence Filing</font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">Michael Purcell</font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">Ethan Horowitz</font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">Division of Corporation Finance</font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">Office of Energy &#38; Transportation</font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">U.S. Securities and Exchange Commission</font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">100 F Street, NE</font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">Washington, D.C. 20549</font></div><div><font><br></font></div><div style="text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Re&#58;&#160;&#160;&#160;&#160;NiSource Inc.</font></div><div style="text-indent:72pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Form 10-K for Fiscal Year Ended December 31, 2021</font></div><div style="text-indent:72pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Filed February 23, 2022</font></div><div style="text-indent:72pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%">File No. 001-16189 </font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">Dear Messrs. Purcell and Horowitz&#58;</font></div><div><font><br></font></div><div style="margin-bottom:8pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">NiSource Inc. (&#8220;NiSource&#8221; or &#8220;Company&#8221;) received a letter dated September 8, 2022, from the Division of Corporation Finance, Office of Energy &#38; Transportation, of the U.S. Securities and Exchange Commission (&#8220;Commission&#8221;), commenting on our most recent Form 10-K filed with the Commission on February 23, 2022 (&#8220;Form 10-K&#8221;) and our response dated August 30, 2022, to your comment letter dated July 21, 2022. Your comments from such letter are repeated below in bold print, followed by our response to the comments. </font></div><div id="i8584f20364d14cd8abdc0fffb33f19e6_38"></div><div style="margin-bottom:8pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;text-decoration:underline">Response dated August 30, 2022</font></div><div style="margin-bottom:8pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;text-decoration:underline">Risk Factors, page 14</font></div><div style="margin-bottom:8pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">1.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%;padding-left:9pt">We note the revised disclosure provided as part of your response to prior comment 2. Please further revise your disclosure to clarify how your use of fossil fuels may affect opinions with respect to your environmental practices (e.g., by increasing your cost of capital or limiting your access to capital markets).</font></div><div style="margin-bottom:8pt;padding-left:36pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;text-decoration:underline">Response</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#58; We have identified and disclosed in our Financial, Economic and Market Risks &#8220;Risk Factors&#8221; section on page 25 of our Form 10-K that &#8220;a change in investor sentiment toward us or the utilities industry generally could adversely affect our ability to raise additional capital or refinance debt. For example, because NIPSCO&#8217;s current generating facilities substantially rely on coal for its operations, certain financial institutions may choose not to participate in our financing arrangements. In addition, large institutional investors may choose to sell or choose not to purchase our stock due to environmental, social and governance (&#8220;ESG&#8221;) concerns or concerns regarding renewable energy supply chain challenges. Reduced access to capital markets, increased borrowing costs, and&#47;or lower equity valuation levels could reduce future earnings per share and cash flows.&#8221; To date, we have not experienced any material impacts such as the ones </font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:139%">U.S. Securities and Exchange Commission</font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:139%">September 20, 2022</font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:139%">Page 2</font></div></div><div style="margin-bottom:8pt;padding-left:36pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">described in the preceding sentences. However, to the extent we experience any such material impacts in the future, we will provide appropriate disclosure in our future filings.</font></div><div id="i8584f20364d14cd8abdc0fffb33f19e6_45"></div><div style="margin-bottom:8pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;text-decoration:underline">Management's Discussion and Analysis of Financial Condition and Results of Operations, page</font></div><div style="margin-bottom:8pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;text-decoration:underline">35</font></div><div style="margin-bottom:8pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">2.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%;padding-left:9pt">From your response to prior comment 4, it appears that expenditures for projects that are considered &#8220;climate-related&#8221; are embedded in other disclosures regarding your capital expenditures. Please clarify for us how you considered providing disclosure that identifies capital expenditures for climate-related projects.</font></div><div style="margin-bottom:8pt;padding-left:36pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;text-decoration:underline">Response</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#58; Our primary purpose for replacing pipe and modernizing our gas infrastructure is to enhance the safety and reliability of our system. These gas modernization projects have and are expected to continue to have an ancillary benefit of reducing emissions. As emissions reductions are only a byproduct of the modernization expenditures, we are unable to reasonably determine the allocation of our capital expenditures that are climate-related. Further, management does not view the safety and emissions reductions components separately when making decisions such as capital budget allocations. In future filings, we intend to clarify that emissions reductions are an ancillary benefit of the modernization capital expenditures.</font></div><div id="i8584f20364d14cd8abdc0fffb33f19e6_52"></div><div style="margin-bottom:8pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">3.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%;padding-left:9pt">Your response to prior comment 5 states that you are not aware of any material specific indirect weather-related impacts on your suppliers. Please tell us how you considered providing disclosure regarding possible indirect financial and operational impacts to you from disruptions to the operations of your suppliers from severe weather.</font></div><div style="margin-bottom:8pt;padding-left:36pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;text-decoration:underline">Response</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#58; We have quarterly business review meetings with critical suppliers to monitor potential impacts, including those related to weather. Through this process, we discuss emerging issues in the supply chain, which may include weather-related events (hurricanes, floods, fires, etc). Through this process, we have not identified or experienced any material financial or operational impacts from disruptions to the operations of our suppliers, as a result of severe weather, nor have we identified any new material risks to disclose. To the extent we identify any material impacts in the future, we will provide appropriate disclosure in our future filings.</font></div><div style="margin-bottom:8pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">If you have any questions or comments on this letter, please direct them to me at (614) 460-6000 or ggode&#64;NiSource.com. Thank you for your attention.</font></div><div style="padding-left:198pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">Sincerely,</font></div><div><font><br></font></div><div style="padding-left:198pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:44.711%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#47;s&#47; GUNNAR J. GODE</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Gunnar J. Gode</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Vice&#160;President, Chief Accounting Officer and Controller</font></td></tr></table></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div></body></html>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
