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Business Description And Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Accounts Receivable and Allowance for Doubtful Accounts | Following is a summary of accounts receivable as of December 31 (in millions):
| 2023 |  | 2022 |
Billed Accounts Receivable | $ | 198.5 |  | $ | 267.6 |
Unbilled Revenue |  | 154.0 |  |  | 243.6 |
Less Allowance for Credit Losses |  | (2.2 | ) |  | (3.0 | )
Accounts Receivable, net | $ | 350.3 |  | $ | 508.2 |
Financing Receivable, Current, Allowance for Credit Loss | Changes to allowance for credit losses for the years ended December 31, were as follows (in millions):
| Balance at Beginning of Year |  | Additions Charged to Costs and Expenses |  | Recoveries and Other Additions |  | Write-offs and Other Deductions |  | Balance at End of Year |
2023 | $ | 3.0 |  | $ | 8.7 |  | $ | 4.1 |  | $ | (13.6 | ) | $ | 2.2 |
2022 | $ | 2.1 |  | $ | 9.1 |  | $ | 3.5 |  | $ | (11.7 | ) | $ | 3.0 |
2021 | $ | 7.0 |  | $ | 2.4 |  | $ | 3.6 |  | $ | (10.9 | ) | $ | 2.1 |
Materials, Supplies and Fuel | The following amounts by major classification are included in Materials, supplies and fuel on the accompanying Consolidated Balance Sheets as of December 31 (in millions):
| 2023 |  | 2022 |
Materials and supplies | $ | 105.9 |  | $ | 99.7 |
Fuel |  | 7.7 |  |  | 3.1 |
Natural gas in storage |  | 47.3 |  |  | 104.6 |
Total materials, supplies and fuel | $ | 160.9 |  | $ | 207.4 |
Property, Plant and Equipment (AFUDC) | The following table presents AFUDC amounts (in millions) for the years ended December 31:
| Income Statement Location | 2023 |  | 2022 |  | 2021 |
AFUDC Borrowed | Interest expense incurred, net of amounts capitalized | $ | 6.0 |  | $ | 5.6 |  | $ | 4.1 |
AFUDC Equity | Other income (expense), net |  | 0.4 |  |  | 0.6 |  |  | 0.6 |
Goodwill | As of December 31, 2023 and 2022, Goodwill balances were as follows (in millions):
| Electric Utilities |  | Gas Utilities |  | Total |
Goodwill | $ | 257.3 |  | $ | 1,042.2 |  | $ | 1,299.5 |
Intangible Assets | Changes to intangible assets for the years ended December 31, were as follows (in millions):
| 2023 |  | 2022 |  | 2021 |
Intangible assets, net, beginning balance | $ | 9.6 |  | $ | 10.8 |  | $ | 11.9 |
Amortization expense (a) |  | (1.2 | ) |  | (1.2 | ) |  | (1.1 | )
Intangible assets, net, ending balance | $ | 8.4 |  | $ | 9.6 |  | $ | 10.8 |
(a) Amortization expense for existing intangible assets is expected to b e $1.2 million for each year of the next five years.
Schedule of Accrued Liabilities | The following amounts by major classification are included in Accrued liabilities on the accompanying Consolidated Balance Sheets as of December 31 (in millions):
| 2023 |  | 2022 |
Accrued employee compensation, benefits and withholdings | $ | 74.8 |  | $ | 62.9 |
Accrued property taxes |  | 52.7 |  |  | 52.4 |
Customer deposits and prepayments |  | 76.0 |  |  | 47.7 |
Accrued interest |  | 46.3 |  |  | 33.8 |
Other (none of which is individually significant) |  | 43.5 |  |  | 46.7 |
Total accrued liabilities | $ | 293.3 |  | $ | 243.5 |
Earnings Per Share of Common Stock | A reconciliation of share amounts used to compute earnings per share is as follows for the years ended December 31 (in millions, except earnings per share amounts):
| 2023 |  | 2022 |  | 2021 |
Net income available for common stock | $ | 262.2 |  | $ | 258.4 |  | $ | 236.7 |
Weighted average shares - basic |  | 67.0 |  |  | 64.9 |  |  | 63.2 |
Dilutive effect of equity compensation |  | 0.1 |  |  | 0.1 |  |  | 0.1 |
Weighted average shares - diluted |  | 67.1 |  |  | 65.0 |  |  | 63.3 |
Net income available for common stock, per share - Diluted | $ | 3.91 |  | $ | 3.97 |  | $ | 3.74 |
Antidilutive Securities | The following securities were excluded from the diluted earnings per share computation for the years ended December 31 because of their anti-dilutive nature:
| 2023 |  | 2022 |  | 2021 |
Equity compensation |  | 46,275 |  |  | — |  |  | 13,101 |
Anti-dilutive shares excluded from computation of earnings per share |  | 46,275 |  |  | — |  |  | 13,101 |

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