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Business Segment Information
 9 Months Ended
Sep. 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 September 30,

 

Nine Months Ended September 30,

 

 

2023

 

2022

 

2023

 

2022

 

Revenues:

 

 

 

 

 

 

 

 

Electric Utilities

 

 

 

 

 

 

 

 

External Customers

$

234,490

 

$

255,741

 

$

640,595

 

$

660,800

 

Inter-segment

 

2,839

 

 

2,928

 

 

8,516

 

 

8,786

 

Total Electric Utilities Revenue

 

237,329

 

 

258,669

 

 

649,111

 

 

669,586

 

 

 

 

 

 

 

 

 

Gas Utilities

 

 

 

 

 

 

 

 

External Customers

 

172,636

 

 

206,871

 

 

1,098,973

 

 

1,099,577

 

Inter-segment

 

1,649

 

 

1,417

 

 

4,948

 

 

4,272

 

Total Gas Utilities Revenue

 

174,285

 

 

208,288

 

 

1,103,921

 

 

1,103,849

 

 

 

 

 

 

 

 

 

Inter-segment eliminations

 

(4,488

)

 

(4,345

)

 

(13,464

)

 

(13,058

)

 

 

 

 

 

 

 

 

Total Revenues

$

407,126

 

$

462,612

 

$

1,739,568

 

$

1,760,377

 

 

 

 

 

 

 

 

 

Operating income (loss):

 

 

 

 

 

 

 

 

Electric Utilities

$

83,016

 

$

69,483

 

$

190,695

 

$

165,455

 

Gas Utilities

 

15,400

 

 

10,583

 

 

147,750

 

 

162,318

 

Corporate and Other

 

(645

)

 

(587

)

 

(2,275

)

 

(2,552

)

Total Operating Income

$

97,771

 

$

79,479

 

$

336,170

 

$

325,221

 

 

 

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

September 30, 2023

 

December 31, 2022

 

Electric Utilities

$

3,938,835

 

$

3,929,721

 

Gas Utilities

 

5,301,383

 

 

5,578,282

 

Corporate and Other

 

692,710

 

 

110,227

 

Total assets

$

9,932,928

 

$

9,618,230