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Business Segment Information | 6 Months Ended
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Jun. 30, 2025
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. Our operations are divided into two primary reportable segments, the Columbia Operations and the NIPSCO Operations segments. 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 northern 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. We use operating income as the primary measurement of performance for each of the reportable segments and make decisions on financing, dividends and taxes at the corporate level on a consolidated basis. We provide this measure to our CODM, the CEO, who utilizes it to assess performance and allocation of resources at the operating segment level based on budget-to-actual and actual-to-actual variances. 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, 2025 |  |
(in millions) | Columbia Operations |  | NIPSCO Operations |  | Total of Reportable Segments |  |  |  |
Operating Revenues |  |  |  |  |  |  |  |  |
External Revenue | $ | 601.2 |  |  | $ | 680.6 |  |  | $ | 1,281.8 |  |  |  |  |
Intersegment Revenue | 3.5 |  |  | 0.2 |  |  | 3.7 |  |  |  |  |
Total Operating Revenue | $ | 604.7 |  |  | $ | 680.8 |  |  | $ | 1,285.5 |  |  |  |  |
Cost of energy | 110.4 |  |  | 151.4 |  |  | 261.8 |  |  |  |  |
O&M | 207.7 |  |  | 211.0 |  |  | 418.7 |  |  |  |  |
Depreciation | 111.7 |  |  | 165.9 |  |  | 277.6 |  |  |  |  |
Total other taxes | 52.4 |  | 18.1 |  | 70.5 |  |  |  |  |
Other segment items(1) | 0.3 |  |  | 0.4 |  |  | 0.7 |  |  |  |  |
Operating Income | $ | 122.2 |  |  | $ | 134.0 |  |  | $ | 256.2 |  |  |  |  |
(1)Other segment items consists of Loss on Sale or Impairment of Assets and other segment income or expenses deemed insignificant which are used to reach our measurement of segment profit or loss, Operating Income.
Three Months Ended June 30, 2024 |  |
(in millions) | Columbia Operations |  | NIPSCO Operations |  | Total of Reportable Segments |  |  |  |
Operating Revenues |  |  |  |  |  |  |  |  |
External Revenue | $ | 487.4 |  |  | $ | 597.2 |  |  | $ | 1,084.6 |  |  |  |  |
Intersegment Revenue | 3.1 |  |  | 0.2 |  |  | 3.3 |  |  |  |  |
Total Operating Revenue | 490.5 |  |  | 597.4 |  |  | 1,087.9 |  |  |  |  |
Cost of energy | 56.3 |  |  | 108.4 |  |  | 164.7 |  |  |  |  |
O&M | 191.3 |  |  | 187.5 |  |  | 378.8 |  |  |  |  |
Depreciation | 99.4 |  |  | 143.0 |  |  | 242.4 |  |  |  |  |
Total other taxes | 46.9 |  | 16.3 |  | 63.2 |  |  |  |
Other segment items(1) | — |  |  | (0.1) |  |  | (0.1) |  |  |  |  |
Operating Income | $ | 96.6 |  |  | $ | 142.3 |  |  | $ | 238.9 |  |  |  |  |
(1)Other segment items consists of (Gain) on Sale or Impairment of Assets and other segment income or expenses deemed insignificant which are used to reach our measurement of segment profit or loss, Operating Income.
Six Months Ended June 30, 2025 |  |
(in millions) | Columbia Operations |  | NIPSCO Operations |  | Total of Reportable Segments |  |  |  |
Operating Revenues |  |  |  |  |  |  |  |  |
External Revenue | $ | 1,841.8 |  |  | $ | 1,622.0 |  |  | $ | 3,463.8 |  |  |  |  |
Intersegment Revenue | 6.7 |  |  | 0.5 |  |  | 7.2 |  |  |  |  |
Total Operating Revenue | $ | 1,848.5 |  |  | $ | 1,622.5 |  |  | $ | 3,471.0 |  |  |  |  |
Cost of energy | 490.2 |  |  | 419.1 |  |  | 909.3 |  |  |  |  |
O&M | 450.7 |  |  | 413.0 |  |  | 863.7 |  |  |  |  |
Depreciation | 219.9 |  |  | 307.2 |  |  | 527.1 |  |  |  |  |
Total other taxes | 119.4 |  | 36.6 |  | 156.0 |  |  |  |  |
Other segment items(1) | 0.3 |  |  | 0.7 |  |  | 1.0 |  |  |  |  |
Operating Income | $ | 568.0 |  |  | $ | 445.9 |  |  | $ | 1,013.9 |  |  |  |  |
(1)Other segment items consists of Loss on Sale or Impairment of Assets and other segment income or expenses deemed insignificant which are used to reach our measurement of segment profit or loss, Operating Income.
Six Months Ended June 30, 2024 |  |
(in millions) | Columbia Operations |  | NIPSCO Operations |  | Total of Reportable Segments |  |  |  |
Operating Revenues |  |  |  |  |  |  |  |  |
External Revenue | $ | 1,441.1 |  |  | $ | 1,349.6 |  |  | $ | 2,790.7 |  |  |  |  |
Intersegment Revenue | 6.3 |  |  | 0.5 |  |  | 6.8 |  |  |  |  |
Total Operating Revenue | 1,447.4 |  |  | 1,350.1 |  |  | 2,797.5 |  |  |  |  |
Cost of energy | 285.1 |  |  | 304.6 |  |  | 589.7 |  |  |  |  |
O&M | 402.0 |  |  | 378.8 |  |  | 780.8 |  |  |  |  |
Depreciation | 197.6 |  |  | 275.7 |  |  | 473.3 |  |  |  |  |
Total other taxes | 104.1 |  | 32.4 |  | 136.5 |  |  |  |
Other segment items(1) | — |  |  | (0.1) |  |  | (0.1) |  |  |  |  |
Operating Income | $ | 458.6 |  |  | $ | 358.7 |  |  | $ | 817.3 |  |  |  |  |
(1)Other segment items consists of (Gain) on Sale or Impairment of Assets and other segment income or expenses deemed insignificant which are used to reach our measurement of segment profit or loss, Operating Income. The following table provides information about the assets of our reportable segments included in the Condensed Consolidated Balance Sheets (unaudited):
(in millions) | June 30, 2025 |  | December 31, 2024
Assets |  |  |
Columbia Operations | $ | 14,982.7 |  |  | $ | 14,769.5 |
NIPSCO Operations | 17,511.3 |  |  | 15,823.5 |
Corporate and Other | 1,534.9 |  |  | 1,195.1 |
Consolidated Assets | $ | 34,028.9 |  |  | $ | 31,788.1 |
To reconcile the segment tables above to consolidated NiSource:
Three Months Ended June 30, 2025
(in millions) | Total Reportable Segments |  | Corporate and Other |  | Eliminations |  | Consolidated NiSource
Total Operating Revenue | $ | 1,285.5 |  |  | $ | 144.6 |  |  | $ | (147.1) |  |  | $ | 1,283.0 |
Operating Income | 256.2 |  |  | 6.7 |  |  | — |  |  | 262.9 |
Three Months Ended June 30, 2024
(in millions) | Total Reportable Segments |  | Corporate and Other |  | Eliminations |  | Consolidated NiSource
Total Operating Revenue | $ | 1,087.9 |  |  | $ | 139.1 |  |  | $ | (142.3) |  |  | $ | 1,084.7 |
Operating Income | 238.9 |  |  | (1.9) |  |  | — |  |  | 237.0 |
Six Months Ended June 30, 2025
(in millions) | Total Reportable Segments |  | Corporate and Other |  | Eliminations |  | Consolidated NiSource
Total Operating Revenue | $ | 3,471.0 |  |  | $ | 290.0 |  |  | $ | (294.8) |  |  | $ | 3,466.2 |
Operating Income | 1,013.9 |  |  | 8.4 |  |  | — |  |  | 1,022.3 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards 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