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Business segment data
 9 Months Ended
Sep. 30, 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 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 the refining business and 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 and supporting activities of Dakota Prairie Refining and Fidelity other than certain general and administrative costs and interest expense as described above. Dakota Prairie Refining refined crude oil and produced and sold diesel fuel, naphtha, ATBs and other by-products of the production process. In the second quarter of 2016, the Company sold all of the outstanding membership interests in Dakota Prairie Refining. 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 10.
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
Nine Months Ended
 
September 30,
September 30,
 
2016

2015

2016

2015

 
(In thousands)
External operating revenues:
 
 
 
 
Regulated operations:
 
 
 
 
Electric
$
82,156

$
74,604

$
238,911

$
210,646

Natural gas distribution
87,941

89,520

500,106

553,058

Pipeline and midstream
21,982

21,293

44,980

43,881

 
192,079

185,417

783,997

807,585

Nonregulated operations:
 
 
 
 
Pipeline and midstream
10,732

14,545

29,697

42,294

Construction materials and contracting
724,535

774,288

1,475,643

1,475,585

Construction services
280,801

223,676

822,226

670,594

Other
420

416

1,167

1,167

 
1,016,488

1,012,925

2,328,733

2,189,640

Total external operating revenues
$
1,208,567

$
1,198,342

$
3,112,730

$
2,997,225

 
 
 
 
 
Intersegment operating revenues:
 

 

 

 

Regulated operations:
 
 
 
 
Electric
$
—

$
—

$
—

$
—

Natural gas distribution
—

—

—

—

Pipeline and midstream
3,278

3,740

30,969

31,365

 
3,278

3,740

30,969

31,365

Nonregulated operations:
 
 
 
 
Pipeline and midstream
41

145

161

460

Construction materials and contracting
155

244

370

2,450

Construction services
3

2,112

541

17,298

Other
2,204

2,379

5,542

5,943

 
2,403

4,880

6,614

26,151

Intersegment eliminations
(5,681
)
(8,620
)
(37,583
)
(57,516
)
Total intersegment operating revenues
$
—

$
—

$
—

$
—

 
 
 
 
 
 
Three Months Ended
Nine Months Ended
 
September 30,
September 30,
 
2016

2015

2016

2015

 
(In thousands)
Earnings (loss) on common stock:
 

 

 

 

Regulated operations:
 
 
 
 
Electric
$
12,699

$
12,605

$
31,840

$
26,842

Natural gas distribution
(12,524
)
(12,298
)
4,940

3,777

Pipeline and midstream
5,389

5,392

16,241

15,077

 
5,564

5,699

53,021

45,696

Nonregulated operations:
 
 
 
 
Pipeline and midstream
1,304

(8,587
)
2,043

(8,498
)
Construction materials and contracting
69,523

68,823

88,747

74,324

Construction services
7,234

4,742

20,198

16,505

Other
(1,009
)
(2,203
)
(3,572
)
(11,560
)
 
77,052

62,775

107,416

70,771

Intersegment eliminations*
5,599

5,241

5,599

3,507

Earnings on common stock before loss from
discontinued operations
88,215

73,715

166,036

119,974

Loss from discontinued operations, net of tax*
(5,400
)
(223,112
)
(299,538
)
(816,517
)
Loss from discontinued operations attributable to noncontrolling interest
—

(9,778
)
(131,691
)
(21,060
)
Total earnings (loss) on common stock
$
82,815

$
(139,619
)
$
(1,811
)
$
(675,483
)

* Includes eliminations for the presentation of income tax adjustments between continuing and discontinued operations.