Regulatory Matters (Tables)

3 Months Ended

Mar. 31, 2021

Regulatory Assets and Liabilities Disclosure [Abstract]

Schedule of Regulatory Assets and Liabilities

We had the following regulatory assets and liabilities (in thousands) as of:


	As of		As of
	March 31, 2021		December 31, 2020
Regulatory assets
Winter Storm Uri (a)	$	480,842	$	—
Deferred energy and fuel cost adjustments (a) (b)	68,402		39,035
Deferred gas cost adjustments (a) (b)	17,066		3,200
Gas price derivatives (b)	324		2,226
Deferred taxes on AFUDC (c)	7,469		7,491
Employee benefit plans and related deferred taxes (d)	117,886		116,598
Environmental (b)	1,413		1,413

Loss on reacquired debt (b)	22,386		22,864

Deferred taxes on flow through accounting (d)	51,823		47,515
Decommissioning costs (c)	7,827		8,988
Gas supply contract termination (b)	1,013		2,524
Other regulatory assets (b)	25,806		26,404
Total regulatory assets	802,257		278,258
Less current regulatory assets	(129,951)		(51,676)
Regulatory assets, non-current	$	672,306	$	226,582

Regulatory liabilities
Deferred energy and gas costs (b)	$	426	$	13,253
Employee benefit plan costs and related deferred taxes (d)	40,471		40,256
Cost of removal (b)	177,003		172,902

Excess deferred income taxes (d)	271,492		285,259

Other regulatory liabilities (d)	21,998		21,050
Total regulatory liabilities	511,390		532,720
Less current regulatory liabilities	(13,580)		(25,061)
Regulatory liabilities, non-current	$	497,810	$	507,659

__________

(a) We are in discussions with our regulators regarding the timing of Winter Storm Uri incremental cost recovery. See further information below.

(b) Recovery of costs, but we are not allowed a rate of return.

(d) In addition to recovery or repayment of costs, we are allowed a return on a portion of this amount or a reduction in rate base.

February 2021 Winter Storm Uri Fuel Costs

As of March 31, 2021, our estimate of incremental costs from Winter Storm Uri which was recorded to a regulatory asset is shown below by jurisdiction. This information is based on anticipated filings that we expect to complete in the second quarter of 2021 and is subject to adjustments as applications are submitted and final decisions are issued.


Costs by Jurisdiction	(in thousands)
Gas Utilities:
Arkansas Gas	$	137,500
Colorado Gas	77,850
Iowa Gas	95,450
Kansas Gas	87,900
Nebraska Gas	79,750
Wyoming Gas	29,409
Gas Utilities Total	$	507,859

Electric Utilities:
Colorado Electric	$	25,500
South Dakota Electric	22,200
Wyoming Electric	3,266
Electric Utilities Total	$	50,966

Total Winter Storm Uri Incremental Costs Recorded to Regulatory Asset	$	558,825

Costs by Regulatory Asset
Winter Storm Uri (a)	$	480,842
Deferred energy and fuel cost adjustments	27,166
Deferred gas cost adjustments (b)	50,817
	$	558,825

__________

(a) We expect to recover most of the Winter Storm Uri incremental costs through a separately tracked regulatory mechanism but also expect to recover a portion through our existing mechanisms.

(b) Incremental natural gas costs from Winter Storm Uri are reflected as an increase in the Deferred gas cost adjustments regulatory asset, net of existing Deferred energy and gas cost regulatory liabilities, for the three months ended March 31, 2021.