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Business Segment Information
 6 Months Ended
Jun. 30, 2023
Segment Reporting Information, Additional Information [Abstract]  
Business Segment Information
(12)
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 CODM assesses the performance of our operating segments based on operating income.

 

We conduct our business operations through two operating segments: Electric Utilities and Gas Utilities. Certain unallocated corporate expenses that support our operating segments are presented as Corporate and Other. Our operating segments are equivalent to our reportable segments.
 

Segment information was as follows (in thousands):

 

 

Three Months Ended June 30,

 

Six Months Ended June 30,

 

 

2023

 

2022

 

2023

 

2022

 

Revenues:

 

 

 

 

 

 

 

 

Electric Utilities

 

 

 

 

 

 

 

 

External Customers

$

190,212

 

$

201,450

 

$

406,105

 

$

405,059

 

Inter-segment

 

2,861

 

 

2,929

 

 

5,677

 

 

5,858

 

Total Electric Utilities Revenue

 

193,073

 

 

204,379

 

 

411,782

 

 

410,917

 

 

 

 

 

 

 

 

 

Gas Utilities

 

 

 

 

 

 

 

 

External Customers

 

221,071

 

 

272,745

 

 

926,337

 

 

892,706

 

Inter-segment

 

1,649

 

 

1,424

 

 

3,299

 

 

2,855

 

Total Gas Utilities Revenue

 

222,720

 

 

274,169

 

 

929,636

 

 

895,561

 

 

 

 

 

 

 

 

 

Inter-segment eliminations

 

(4,510

)

 

(4,353

)

 

(8,976

)

 

(8,713

)

 

 

 

 

 

 

 

 

Total Revenues

$

411,283

 

$

474,195

 

$

1,332,442

 

$

1,297,765

 

 

 

 

 

 

 

 

 

Operating income (loss):

 

 

 

 

 

 

 

 

Electric Utilities

$

46,619

 

$

45,226

 

$

107,679

 

$

95,972

 

Gas Utilities

 

17,725

 

 

28,195

 

 

132,350

 

 

151,735

 

Corporate and Other

 

(828

)

 

(1,032

)

 

(1,630

)

 

(1,965

)

Total Operating Income

$

63,516

 

$

72,389

 

$

238,399

 

$

245,742

 

 

 

Total assets (net of inter-segment eliminations) as of:

June 30, 2023

 

December 31, 2022

 

Electric Utilities

$

3,914,037

 

$

3,929,721

 

Gas Utilities

 

5,252,521

 

 

5,578,282

 

Corporate and Other

 

242,537

 

 

110,227

 

Total assets

$

9,409,095

 

$

9,618,230