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Revenue Recognition (Tables)

3 Months Ended

Mar. 31, 2025

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The tables below reconcile revenue disaggregation by customer class to segment revenue, as well as to revenues reflected on the Condensed Statements of Consolidated Income (unaudited):

Three months ended March 31, 2025 (in millions)			Columbia Operations						NIPSCO Operations						Corporate and Other						Total
Gas Distribution
Residential			$	851.2					$	291.4					$	—					$	1,142.6
Commercial			306.5						103.1						—						409.6
Industrial			47.9						31.4						—						79.3
Off-system			22.3						—						—						22.3
Wholesale			1.1						—						—						1.1
Miscellaneous(1)			10.9						4.7						—						15.6
Subtotal			$	1,239.9					$	430.6					$	—					$	1,670.5
Electric Generation and Power Delivery
Residential			$	—					$	167.9					$	—					$	167.9
Commercial			—						160.1						—						160.1
Industrial			—						142.6						—						142.6
Wholesale			—						7.6						—						7.6
Public Authority			—						2.2						—						2.2
Miscellaneous(1)			—						(1.4)						—						(1.4)
Subtotal			$	—					$	479.0					$	—					$	479.0
Total Customer Revenues(2)			1,239.9						909.6						—						2,149.5
Other Revenues(3)			0.7						31.8						1.2						33.7
Total Operating Revenues			$	1,240.6					$	941.4					$	1.2					$	2,183.2
(1)Amounts included in Columbia Operations primarily relate to earnings share mechanisms and late fees. Amounts included in NIPSCO Operations primarily relate to late fees and property rentals. (2)Customer revenue amounts exclude intersegment revenues. See Note 16, "Business Segment Information," for discussion of intersegment revenues. (3)Amounts included in Columbia Operations primarily relate to alternative revenue programs including weather normalization adjustment mechanisms. Amounts included in NIPSCO Operations primarily relate to alternative revenue programs including weather normalization adjustment mechanisms, MISO multi-value projects and revenue from non-jurisdictional transmission assets. Amounts included in Corporate and Other primarily relate to products and services revenue.
Three months ended March 31, 2024 (in millions)			Columbia Operations						NIPSCO Operations						Corporate and Other						Total
Gas Distribution
Residential			$	628.0					$	212.1					$	—					$	840.1
Commercial			220.4						74.7						—						295.1
Industrial			40.1						23.8						—						63.9
Off-system			12.8						—						—						12.8
Wholesale			0.8						—						—						0.8
Miscellaneous(1)			8.2						7.9						—						16.1
Subtotal			$	910.3					$	318.5					$	—					$	1,228.8
Electric Generation and Power Delivery
Residential			$	—					$	143.8					$	—					$	143.8
Commercial			—						142.9						—						142.9
Industrial			—						115.9						—						115.9
Wholesale			—						6.3						—						6.3
Public Authority			—						2.1						—						2.1
Miscellaneous(1)			—						3.2						—						3.2
Subtotal			$	—					$	414.2					$	—					$	414.2
Total Customer Revenues(2)			910.3						732.7						—						1,643.0
Other Revenues(3)			43.4						19.7						0.2						63.3
Total Operating Revenues			$	953.7					$	752.4					$	0.2					$	1,706.3
(1)Amounts included in Columbia Operations primarily relate to earnings share mechanisms and late fees. Amounts included in NIPSCO Operations, primarily relate to revenue refunds, public repairs and property rentals. (2)Customer revenue amounts exclude intersegment revenues. See Note 16, "Business Segment Information," for discussion of intersegment revenues. (3)Amounts included in Columbia Operations primarily relate to alternative revenue programs including weather normalization adjustment mechanisms. Amounts included in NIPSCO Operations primarily relate to alternative revenue programs including weather normalization adjustment mechanisms, MISO multi-value projects and revenue from non-jurisdictional transmission assets.

Customer Accounts Receivable

The opening and closing balances of customer receivables for the three months ended March 31, 2025 are presented in the table below. We had no significant contract assets or liabilities during the period. Additionally, we have not incurred any significant costs to obtain or fulfill contracts.

(in millions)			Customer Accounts Receivable, Billed (less reserve)						Customer Accounts Receivable, Unbilled (less reserve)
Balance as of December 31, 2024			$	525.1					$	408.1
Balance as of March 31, 2025			777.4						299.5

Accounts Receivable, Allowance for Credit Loss

A rollforward of our allowance for credit losses as of March 31, 2025 and December 31, 2024 are presented in the table below:

(in millions)			Columbia Operations						NIPSCO Operations												Corporate and Other						Total
Balance as of January 1, 2025			$	9.8					$	13.9											$	—					$	23.7
Current period provisions			9.1						4.1												—						13.2
Write-offs charged against allowance			(7.8)						(2.6)												—						(10.4)
Recoveries of amounts previously written off			2.9						0.2												—						3.1
Balance as of March 31, 2025			$	14.0					$	15.6											$	—					$	29.6

(in millions)			Columbia Operations						NIPSCO Operations												Corporate and Other						Total
Balance as of January 1, 2024			$	10.2					$	11.9											$	0.8					$	22.9
Current period provisions			26.7						12.1												—						38.8
Write-offs charged against allowance			(43.9)						(11.0)												(0.8)						(55.7)
Recoveries of amounts previously written off			16.8						0.9												—						17.7
Balance as of December 31, 2024			$	9.8					$	13.9											$	—					$	23.7

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+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479319/326-20-50-13

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Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-5

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