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Business segment data
 3 Months Ended
Mar. 31, 2016
Segment Reporting [Abstract]  
Business segment data
Business segment data
The Company's reportable segments are those that are based on the Company's method of internal reporting, which generally segregates the strategic business units due to differences in products, services and regulation. The internal reporting of these operating segments is defined based on the reporting and review process used by the Company's chief executive officer. The vast majority of the Company's operations are located within the United States.
The electric segment generates, transmits and distributes electricity in Montana, North Dakota, South Dakota and Wyoming. The natural gas distribution segment distributes natural gas in those states as well as in Idaho, Minnesota, Oregon and Washington. These operations also supply related value-added services.
The pipeline and midstream segment provides natural gas transportation, underground storage, gathering and processing services, as well as oil gathering, through regulated and nonregulated pipeline systems and processing facilities primarily in the Rocky Mountain and northern Great Plains regions of the United States.
The construction materials and contracting segment mines aggregates and markets crushed stone, sand, gravel and related construction materials, including ready-mixed concrete, cement, asphalt, liquid asphalt and other value-added products. It also performs integrated contracting services. This segment operates in the central, southern and western United States and Alaska and Hawaii.
The construction services segment provides utility construction services specializing in constructing and maintaining electric and communications lines, gas pipelines, fire suppression systems, and external lighting and traffic signalization. This segment also provides utility excavation and inside electrical and mechanical services, and manufactures and distributes transmission line construction equipment and other supplies.
The refining segment refines crude oil and produces and sells diesel fuel, naphtha, ATBs and other by-products of the production process. The refining segment includes Dakota Prairie Refinery which is jointly owned by WBI Energy and Calumet and is located in southwestern North Dakota, along with WBI Energy's other activity that supports the refinery.
The Other category includes the activities of Centennial Capital, which insures various types of risks as a captive insurer for certain of the Company's subsidiaries. The function of the captive insurer is to fund the deductible layers of the insured companies' general liability, automobile liability and pollution liability coverages. Centennial Capital also owns certain real and personal property. The Other category also includes certain general and administrative costs (reflected in operation and maintenance expense) and interest expense which were previously allocated to Fidelity and do not meet the criteria for income (loss) from discontinued operations. The Other category also includes Centennial Resources' former investment in the Brazilian Transmission Lines.
Discontinued operations includes the results of Fidelity other than certain general and administrative costs and interest expense as described above. Fidelity engaged in oil and natural gas development and production activities in the Rocky Mountain and Mid-Continent/Gulf States regions of the United States. Between September 2015 and March 2016, the Company entered into purchase and sale agreements to sell all of Fidelity's marketed oil and natural gas assets. The completion of these sales occurred between October 2015 and April 2016. For more information on discontinued operations, see Note 9.
The information below follows the same accounting policies as described in Note 1 of the Company's Notes to Consolidated Financial Statements in the 2015 Annual Report. Information on the Company's businesses was as follows:
 
Three Months Ended
 
March 31,
 
2016

2015

 
(In thousands)
External operating revenues:
 
 
Regulated operations:
 
 
Electric
$
82,923

$
71,776

Natural gas distribution
299,395

330,573

Pipeline and midstream
3,420

3,940

 
385,738

406,289

Nonregulated operations:
 
 
Pipeline and midstream
8,697

13,000

Construction materials and contracting
209,852

205,658

Construction services
255,500

235,403

Refining
45,066

1,704

Other
300

295

 
519,415

456,060

Total external operating revenues
$
905,153

$
862,349

 
 
 
Intersegment operating revenues:
 

 

Regulated operations:
 
 
Electric
$
—

$
—

Natural gas distribution
—

—

Pipeline and midstream
21,225

21,261

 
21,225

21,261

Nonregulated operations:
 
 
Pipeline and midstream
84

325

Construction materials and contracting
118

948

Construction services
462

11,695

Refining
—

—

Other
1,669

1,772

 
2,333

14,740

Intersegment eliminations
(23,558
)
(36,001
)
Total intersegment operating revenues
$
—

$
—

 
 
 
Earnings (loss) on common stock:
 

 

Regulated operations:
 
 
Electric
$
11,119

$
8,328

Natural gas distribution
25,241

21,450

Pipeline and midstream
5,288

5,357

 
41,648

35,135

Nonregulated operations:
 
 
Pipeline and midstream
1

1,055

Construction materials and contracting
(14,471
)
(14,635
)
Construction services
5,974

4,760

Refining
(7,187
)
(2,394
)
Other
(550
)
(4,413
)
 
(16,233
)
(15,627
)
Intersegment eliminations
118

(991
)
Earnings on common stock before loss from
discontinued operations
25,533

18,517

Loss from discontinued operations, net of tax
(835
)
(324,605
)
Total earnings (loss) on common stock
$
24,698

$
(306,088
)