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Business Segment Information
 3 Months Ended
Mar. 31, 2024
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. Our CODM reviews capital expenditures by operating segment rather than any individual or total asset amount.

 

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. Corporate and Other also includes business development activities that are not part of our operating segments and inter-segment eliminations. Our operating segments are equivalent to our reportable segments.
 

Segment information was as follows (in millions):

 

 

Electric Utilities

 

Gas Utilities

 

Corporate and Other

 

Total

 

Three Months Ended March 31, 2024

 

 

 

 

 

 

 

 

External revenues

$

219.3

 

$

507.1

 

$

-

 

$

726.4

 

Inter-segment revenues

 

2.9

 

 

1.6

 

 

(4.5

)

 

-

 

Operating income

 

64.6

 

 

130.8

 

 

(2.1

)

 

193.3

 

Capital expenditures (a)

 

86.9

 

 

85.0

 

 

2.4

 

 

174.3

 

Three Months Ended March 31, 2023

 

 

 

 

 

 

 

 

External revenues

$

215.9

 

$

705.3

 

$

-

 

$

921.2

 

Inter-segment revenues

 

2.8

 

 

1.6

 

 

(4.4

)

 

-

 

Operating income

 

61.1

 

 

114.6

 

 

(0.8

)

 

174.9

 

Capital expenditures (a)

 

47.8

 

 

54.8

 

 

1.1

 

 

103.7

 

 

(a)
Includes accruals for property, plant and equipment as disclosed in supplemental cash flow information in the Consolidated Statements of Cash Flows in the Consolidated Financial Statements.