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Business Segment Information | 6 Months Ended
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Jun. 30, 2024
Segment Reporting [Abstract] |
Business Segment Information | Business Segment Information Our reportable segments reflect the manner in which our business is managed and our resources are allocated. Following the consummation of the NIPSCO Minority Interest Transaction, we revised how we evaluate results and allocate resources across our business with an increased focus on operating performance at the state level. Refer to Note 4, "Noncontrolling Interests," for additional information on the NIPSCO Minority Interest Transaction. Our operations are now evaluated through two primary reportable segments, Columbia Operations and NIPSCO Operations. Columbia Operations aggregates the results of the fully regulated and wholly owned subsidiaries of NiSource Gas Distribution Group, Inc. (a holding company that owns Columbia of Kentucky, Columbia of Maryland, Columbia of Ohio, Columbia of Pennsylvania, and Columbia of Virginia). Each Columbia distribution company is an operating segment which we aggregate to form the Columbia Operations reportable segment. NIPSCO Operations includes the results of NIPSCO Holdings I and its majority-owned subsidiaries, including NIPSCO, which has fully regulated gas and electric operations in Northwest Indiana. The remainder of our operations, which are not significant enough on a stand-alone basis to warrant treatment as a reportable segment, are presented as "Corporate and Other" and primarily are comprised of interest expense on holding company debt, and unallocated corporate costs and activities. Refer to Note 3, "Revenue Recognition," for additional information on our segments and their sources of revenues. The following table provides information about our reportable segments. Our CODM uses operating income as the primary measurement for each of the reported segments and makes decisions on financing, dividends, and taxes at the corporate level on a consolidated basis. Segment revenues include intersegment sales to affiliated subsidiaries, which are eliminated in consolidation. Affiliated sales are recognized on the basis of prevailing market, regulated prices or at levels provided for under contractual agreements. Operating income is derived from revenues and expenses directly associated with each segment.
| Three Months Ended June 30, |  | Six Months Ended June 30,
(in millions) | 2024 |  | 2023 |  | 2024 |  | 2023
Operating Revenues |  |  |  |  |  |  |
Columbia Operations |  |  |  |  |  |  |
Unaffiliated | $ | 487.4 |  |  | $ | 521.6 |  |  | $ | 1,441.1 |  |  | $ | 1,570.5 |
Intersegment | 3.1 |  |  | 3.1 |  |  | 6.3 |  |  | 6.1 |
Total | 490.5 |  |  | 524.7 |  |  | 1,447.4 |  |  | 1,576.6 |
NIPSCO Operations |  |  |  |  |  |  |
Unaffiliated | 597.2 |  |  | 568.2 |  |  | 1,349.6 |  |  | 1,485.1 |
Intersegment | 0.2 |  |  | 0.1 |  |  | 0.5 |  |  | 0.4 |
Total | 597.4 |  |  | 568.3 |  |  | 1,350.1 |  |  | 1,485.5 |
Corporate and Other |  |  |  |  |  |  |
Unaffiliated | 0.1 |  |  | 0.2 |  |  | 0.3 |  |  | 0.4 |
Intersegment | 139.0 |  |  | 122.8 |  |  | 278.9 |  |  | 239.5 |
Total | 139.1 |  |  | 123.0 |  |  | 279.2 |  |  | 239.9 |
Eliminations | (142.3) |  |  | (126.0) |  |  | (285.7) |  |  | (246.0) |
Consolidated Operating Revenues | $ | 1,084.7 |  |  | $ | 1,090.0 |  |  | $ | 2,791.0 |  |  | $ | 3,056.0 |
Operating Income |  |  |  |  |  |  |
Columbia Operations | $ | 96.6 |  |  | $ | 101.1 |  |  | $ | 458.6 |  |  | $ | 452.9 |
NIPSCO Operations | 142.3 |  |  | 63.8 |  |  | 358.7 |  |  | 240.8 |
Corporate and Other | (1.9) |  |  | 4.0 |  |  | 3.1 |  |  | 6.2 |
Consolidated Operating Income | $ | 237.0 |  |  | $ | 168.9 |  |  | $ | 820.4 |  |  | $ | 699.9 |
The following table provides information about the assets of our reportable segments included in the Condensed Consolidated Balance Sheet (unaudited):
(in millions) | June 30, 2024 |  | December 31, 2023
Assets |  |  |
Columbia Operations | $ | 13,863.5 |  |  | $ | 13,664.5 |
NIPSCO Operations | 14,785.5 |  |  | 13,962.6 |
Corporate and Other | 1,248.6 |  |  | 3,450.1 |
Consolidated Assets | $ | 29,897.6 |  |  | $ | 31,077.2 |
Information about our reportable segments for the six months ended June 30, 2023, as well as for the period ended December 31, 2023 has been recast to align with the current year's presentation.

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- Definition The entire disclosure for reporting segments including data and tables. 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