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v3.25.3

Business Segment Information (Tables) | 9 Months Ended
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Sep. 30, 2025
Segment Reporting Information, Additional Information [Abstract] |
Segment information included in Consolidated Statements of Income | Segment information was as follows:
| Consolidating Income Statement |
Three Months Ended September 30, 2025 | Electric Utilities |  | Gas Utilities |  | Corporate and Other |  | Total |
| (in millions) |
Revenue - |  |  |  |  |  |  |  |
External Customers | $ | 247.3 |  | $ | 182.9 |  | $ | — |  | $ | 430.2 |
Inter-segment |  | 2.4 |  |  | 1.5 |  |  | (3.9 | ) |  | — |
Total revenue |  | 249.7 |  |  | 184.4 |  |  | (3.9 | ) |  | 430.2 |
Fuel, purchased power and cost of natural gas sold |  | 69.8 |  |  | 42.3 |  |  | (0.1 | ) |  | 112.0 |
Operations and maintenance (a) - |  |  |  |  |  |  |  |
Direct |  | 36.1 |  |  | 38.9 |  |  | 0.7 |  |  | 75.7 |
Allocated |  | 33.7 |  |  | 41.4 |  |  | — |  |  | 75.1 |
Depreciation and amortization |  | 38.3 |  |  | 33.2 |  |  | — |  |  | 71.5 |
Taxes other than income taxes |  | 9.4 |  |  | 7.8 |  |  | — |  |  | 17.2 |
Operating income (loss) | $ | 62.4 |  | $ | 20.8 |  | $ | (4.5 | ) | $ | 78.7 |
Interest expense, net |  |  |  |  |  |  |  | (49.4 | )
Other income (expense), net |  |  |  |  |  |  |  | 0.6 |
Income tax (expense) |  |  |  |  |  |  |  | (4.0 | )
Net income |  |  |  |  |  |  |  | 25.9 |
Net income attributable to non-controlling interest |  |  |  |  |  |  |  | (1.0 | )
Net income available for common stock |  |  |  |  |  |  | $ | 24.9 |
| Consolidating Income Statement |
Three Months Ended September 30, 2024 | Electric Utilities |  | Gas Utilities |  | Corporate and Other |  | Total |
| (in millions) |
Revenue - |  |  |  |  |  |  |  |
External Customers | $ | 229.6 |  | $ | 172.0 |  | $ | — |  | $ | 401.6 |
Inter-segment |  | 2.9 |  |  | 1.6 |  |  | (4.5 | ) |  | — |
Total revenue |  | 232.5 |  |  | 173.6 |  |  | (4.5 | ) |  | 401.6 |
Fuel, purchased power and cost of natural gas sold |  | 54.9 |  |  | 39.7 |  |  | (0.1 | ) |  | 94.5 |
Operations and maintenance (a) - |  |  |  |  |  |  |  |
Direct |  | 32.4 |  |  | 41.3 |  |  | (4.3 | ) |  | 69.4 |
Allocated |  | 32.7 |  |  | 43.5 |  |  | — |  |  | 76.2 |
Depreciation and amortization |  | 38.0 |  |  | 31.3 |  |  | — |  |  | 69.3 |
Taxes other than income taxes |  | 9.4 |  |  | 6.9 |  |  | 0.1 |  |  | 16.4 |
Operating income | $ | 65.1 |  | $ | 10.9 |  | $ | (0.2 | ) | $ | 75.8 |
Interest expense, net |  |  |  |  |  |  |  | (45.2 | )
Other income (expense), net |  |  |  |  |  |  |  | (1.3 | )
Income tax (expense) |  |  |  |  |  |  |  | (2.9 | )
Net income |  |  |  |  |  |  |  | 26.4 |
Net income attributable to non-controlling interest |  |  |  |  |  |  |  | (2.0 | )
Net income available for common stock |  |  |  |  |  |  | $ | 24.4 |
| Consolidating Income Statement |
Nine Months Ended September 30, 2025 | Electric Utilities |  | Gas Utilities |  | Corporate and Other |  | Total |
| (in millions) |
Revenue - |  |  |  |  |  |  |  |
External Customers | $ | 699.1 |  | $ | 975.4 |  | $ | — |  | $ | 1,674.5 |
Inter-segment |  | 7.2 |  |  | 4.5 |  |  | (11.7 | ) |  | — |
Total revenue |  | 706.3 |  |  | 979.9 |  |  | (11.7 | ) |  | 1,674.5 |
Fuel, purchased power and cost of natural gas sold |  | 192.2 |  |  | 403.7 |  |  | (0.2 | ) |  | 595.7 |
Operations and maintenance (a) - |  |  |  |  |  |  |  |
Direct |  | 107.9 |  |  | 121.9 |  |  | (4.1 | ) |  | 225.7 |
Allocated |  | 99.9 |  |  | 126.6 |  |  | — |  |  | 226.5 |
Depreciation and amortization |  | 113.0 |  |  | 97.6 |  |  | (0.1 | ) |  | 210.5 |
Taxes other than income taxes |  | 27.6 |  |  | 22.4 |  |  | — |  |  | 50.0 |
Operating income (loss) | $ | 165.7 |  | $ | 207.7 |  | $ | (7.3 | ) | $ | 366.1 |
Interest expense, net |  |  |  |  |  |  |  | (149.6 | )
Other income (expense), net |  |  |  |  |  |  |  | 1.1 |
Income tax (expense) |  |  |  |  |  |  |  | (26.5 | )
Net income |  |  |  |  |  |  |  | 191.1 |
Net income attributable to non-controlling interest |  |  |  |  |  |  |  | (4.5 | )
Net income available for common stock |  |  |  |  |  |  | $ | 186.6 |
| Consolidating Income Statement |
Nine Months Ended September 30, 2024 | Electric Utilities |  | Gas Utilities |  | Corporate and Other |  | Total |
| (in millions) |
Revenue - |  |  |  |  |  |  |  |
External Customers | $ | 651.0 |  | $ | 879.6 |  | $ | — |  | $ | 1,530.6 |
Inter-segment |  | 8.8 |  |  | 4.6 |  |  | (13.4 | ) |  | — |
Total revenue |  | 659.8 |  |  | 884.2 |  |  | (13.4 | ) |  | 1,530.6 |
Fuel, purchased power and cost of natural gas sold |  | 155.7 |  |  | 362.9 |  |  | (0.4 | ) |  | 518.2 |
Operations and maintenance (a) - |  |  |  |  |  |  |  |
Direct |  | 97.1 |  |  | 117.5 |  |  | (12.3 | ) |  | 202.3 |
Allocated |  | 93.4 |  |  | 125.1 |  |  | — |  |  | 218.5 |
Depreciation and amortization |  | 108.9 |  |  | 92.8 |  |  | 0.1 |  |  | 201.8 |
Taxes other than income taxes |  | 28.7 |  |  | 21.3 |  |  | — |  |  | 50.0 |
Operating income (loss) | $ | 176.0 |  | $ | 164.6 |  | $ | (0.8 | ) | $ | 339.8 |
Interest expense, net |  |  |  |  |  |  |  | (131.9 | )
Other income (expense), net |  |  |  |  |  |  |  | (1.7 | )
Income tax (expense) |  |  |  |  |  |  |  | (23.6 | )
Net income |  |  |  |  |  |  |  | 182.6 |
Net income attributable to non-controlling interest |  |  |  |  |  |  |  | (7.6 | )
Net income available for common stock |  |  |  |  |  |  | $ | 175.0 |
(a) Direct and Allocated Operations and maintenance expenses for our operating segments are regularly provided to the CODM. Direct Operations and maintenance expense represents the costs incurred directly by our operating segments. Allocated Operations and maintenance expense represent costs incurred by BHSC for various direct and indirect support services provided to our operating segments. Pursuant to the BHSC Cost Allocation Manual, indirect cost allocations are determined in accordance with the Public Utility Holding Company Act of 2005.
Segment information included in Consolidated Balance Sheets |
Capital Expenditures (a) for the nine months ended September 30, | 2025 |  | 2024 |
| (in millions) |
Electric Utilities | $ | 334.0 |  | $ | 246.8 |
Gas Utilities |  | 267.6 |  |  | 308.2 |
Corporate and Other |  | 6.9 |  |  | 10.8 |
Total capital expenditures | $ | 608.5 |  | $ | 565.8 |
(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. Capital expenditures are presented net of CIACs in the Consolidated Statements of Cash Flows.

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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