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Business Segment Information | 12 Months Ended
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Dec. 31, 2022
Segment Reporting Information, Additional Information [Abstract] |
Business Segment Information | (16) BUSINESS SEGMENT INFORMATION Our Chief Executive Officer, who is considered to be our CODM, reviews financial information presented on an operating segment basis for purposes of making decisions, allocating resources and assessing financial performance. Our operating segments are based on our method of internal reporting, which is generally segregated by differences in products and services. All of our operations and assets are located within the United States. Our Electric Utilities segment includes the operating results of the regulated electric utility operations of Colorado Electric, South Dakota Electric, and Wyoming Electric, which supply regulated electric utility services to areas in Colorado, Montana, South Dakota and Wyoming. We also own and operate non-regulated power generation and mining businesses that are vertically integrated with our Electric Utilities. Our Gas Utilities segment consists of the operating results of our regulated natural gas utility subsidiaries in Arkansas, Colorado, Iowa, Kansas, Nebraska and Wyoming. Corporate and Other represents certain unallocated expenses for administrative activities that support our operating segments. Corporate and Other also includes business development activities that are not part of our operating segments. Our CODM assesses the performance of our operating segments based on operating income. Our operating segments are equivalent to our reportable segments. Segment information was as follows (in thousands):
|  | Consolidating Income Statement |
Year ended December 31, 2022 |  | Electric Utilities |  |  | Gas Utilities |  |  | Corporate |  |  | Inter-Company Eliminations |  |  | Total |
Revenue - |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Contracts with customers |  | $ | 882,899 |  |  | $ | 1,659,957 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,542,856 |
Other revenues |  |  | 5,548 |  |  |  | 3,412 |  |  |  | — |  |  |  | — |  |  |  | 8,960 |
|  |  | 888,447 |  |  |  | 1,663,369 |  |  |  | — |  |  |  | — |  |  |  | 2,551,816 |
Inter-company operating revenue - |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Contracts with customers |  |  | 11,715 |  |  |  | 5,292 |  |  |  | 538 |  |  |  | (17,545 | ) |  |  | — |
Other revenues |  |  | — |  |  |  | 429 |  |  |  | 368,201 |  |  |  | (368,630 | ) |  |  | — |
|  |  | 11,715 |  |  |  | 5,721 |  |  |  | 368,739 |  |  |  | (386,175 | ) |  |  | — |
Total revenue |  |  | 900,162 |  |  |  | 1,669,090 |  |  |  | 368,739 |  |  |  | (386,175 | ) |  |  | 2,551,816 |
Fuel, purchased power and cost of natural gas sold |  |  | 266,284 |  |  |  | 965,108 |  |  |  | (11 | ) |  |  | (831 | ) |  |  | 1,230,550 |
Operations and maintenance, including taxes |  |  | 283,654 |  |  |  | 345,143 |  |  |  | 309,773 |  |  |  | (323,457 | ) |  |  | 615,113 |
Depreciation, depletion and amortization |  |  | 135,966 |  |  |  | 114,679 |  |  |  | 26,964 |  |  |  | (26,700 | ) |  |  | 250,909 |
Operating income (loss) |  | $ | 214,258 |  |  | $ | 244,160 |  |  | $ | 32,013 |  |  | $ | (35,187 | ) |  | $ | 455,244 |
Interest expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (160,989 | )
Impairment of investment |  |  |  |  |  |  |  |  |  |  |  |  |  |  | — |
Other income (expense), net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,708 |
Income tax benefit (expense) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (25,205 | )
Net income |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 270,758 |
Net income attributable to non-controlling interest |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (12,371 | )
Net income available for common stock |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 258,387 |
|  | Consolidating Income Statement |
Year ended December 31, 2021 |  | Electric Utilities |  |  | Gas Utilities |  |  | Corporate |  |  | Inter-Company Eliminations |  |  | Total |
Revenue - |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Contracts with customers |  | $ | 825,404 |  |  | $ | 1,105,430 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,930,834 |
Other revenues |  |  | 5,336 |  |  |  | 12,932 |  |  |  | — |  |  |  | — |  |  |  | 18,268 |
|  |  | 830,740 |  |  |  | 1,118,362 |  |  |  | — |  |  |  | — |  |  |  | 1,949,102 |
Inter-company operating revenue - |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Contracts with customers |  |  | 11,518 |  |  |  | 6,110 |  |  |  | 196 |  |  |  | (17,824 | ) |  |  | — |
Other revenues |  |  | — |  |  |  | 393 |  |  |  | 356,151 |  |  |  | (356,544 | ) |  |  | — |
|  |  | 11,518 |  |  |  | 6,503 |  |  |  | 356,347 |  |  |  | (374,368 | ) |  |  | — |
Total revenue |  |  | 842,258 |  |  |  | 1,124,865 |  |  |  | 356,347 |  |  |  | (374,368 | ) |  |  | 1,949,102 |
Fuel, purchased power and cost of natural gas sold |  |  | 248,018 |  |  |  | 494,738 |  |  |  | 96 |  |  |  | (918 | ) |  |  | 741,934 |
Operations and maintenance, including taxes |  |  | 260,036 |  |  |  | 314,810 |  |  |  | 293,265 |  |  |  | (306,325 | ) |  |  | 561,786 |
Depreciation, depletion and amortization |  |  | 131,528 |  |  |  | 104,160 |  |  |  | 26,838 |  |  |  | (26,573 | ) |  |  | 235,953 |
Operating income (loss) |  | $ | 202,676 |  |  | $ | 211,157 |  |  | $ | 36,148 |  |  | $ | (40,552 | ) |  | $ | 409,429 |
Interest expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (152,404 | )
Impairment of investment |  |  |  |  |  |  |  |  |  |  |  |  |  |  | — |
Other income (expense), net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,404 |
Income tax benefit (expense) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (7,169 | )
Net income |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 251,260 |
Net income attributable to non-controlling interest |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (14,516 | )
Net income available for common stock |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 236,744 |
|  | Consolidating Income Statement |
Year ended December 31, 2020 |  | Electric Utilities |  |  | Gas Utilities |  |  | Corporate |  |  | Inter-Company Eliminations |  |  | Total |
Revenue - |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Contracts with customers |  | $ | 721,108 |  |  | $ | 959,696 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,680,804 |
Other revenues |  |  | 6,175 |  |  |  | 9,962 |  |  |  | — |  |  |  | — |  |  |  | 16,137 |
|  |  | 727,283 |  |  |  | 969,658 |  |  |  | — |  |  |  | — |  |  |  | 1,696,941 |
Inter-company operating revenue - |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Contracts with customers |  |  | 11,574 |  |  |  | 4,724 |  |  |  | 167 |  |  |  | (16,465 | ) |  |  | — |
Other revenues |  |  | — |  |  |  | 288 |  |  |  | 352,976 |  |  |  | (353,264 | ) |  |  | — |
|  |  | 11,574 |  |  |  | 5,012 |  |  |  | 353,143 |  |  |  | (369,729 | ) |  |  | — |
Total revenue |  |  | 738,857 |  |  |  | 974,670 |  |  |  | 353,143 |  |  |  | (369,729 | ) |  |  | 1,696,941 |
Fuel, purchased power and cost of natural gas sold |  |  | 138,572 |  |  |  | 354,645 |  |  |  | 83 |  |  |  | (896 | ) |  |  | 492,404 |
Operations and maintenance, including taxes |  |  | 265,679 |  |  |  | 303,577 |  |  |  | 284,501 |  |  |  | (301,980 | ) |  |  | 551,777 |
Depreciation, depletion and amortization |  |  | 123,632 |  |  |  | 100,559 |  |  |  | 25,150 |  |  |  | (24,884 | ) |  |  | 224,457 |
Operating income (loss) |  | $ | 210,974 |  |  | $ | 215,889 |  |  | $ | 43,409 |  |  | $ | (41,969 | ) |  | $ | 428,303 |
Interest expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (143,470 | )
Impairment of investment |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (6,859 | )
Other income (expense), net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (2,293 | )
Income tax benefit (expense) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (32,918 | )
Net income |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 242,763 |
Net income attributable to non-controlling interest |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (15,155 | )
Net income available for common stock |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 227,608 |
Total Assets (net of intercompany eliminations) as of December 31, |  | 2022 |  |  | 2021 |
Electric Utilities |  | $ | 3,929,721 |  |  | $ | 3,796,662 |
Gas Utilities |  |  | 5,578,282 |  |  |  | 5,246,370 |
Corporate and Other |  |  | 110,227 |  |  |  | 88,864 |
Total assets |  | $ | 9,618,230 |  |  | $ | 9,131,896 |
Capital Expenditures (a) for the years ended December 31, |  | 2022 |  |  | 2021 |  |  | 2020 |
Electric Utilities |  | $ | 243,133 |  |  | $ | 285,770 |  |  | $ | 288,683 |
Gas Utilities |  |  | 349,438 |  |  |  | 383,320 |  |  |  | 449,209 |
Corporate and Other |  |  | 5,097 |  |  |  | 10,500 |  |  |  | 17,500 |
Total capital expenditures |  | $ | 597,668 |  |  | $ | 679,590 |  |  | $ | 755,392 |
(a) Includes accruals for property, plant and equipment as disclosed in the Supplemental Cash Flow Information to the Consolidated Statement of Cash Flows.

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