XML 45 R23.htm IDEA: XBRL DOCUMENT
v3.20.4

Business segment data | 12 Months Ended
--- | ---
Dec. 31, 2020
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 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 segment provides natural gas transportation and underground storage services through a regulated pipeline system primarily in the Rocky Mountain and northern Great Plains regions of the United States. This segment also provides non-regulated cathodic protection and other energy-related services. In 2020, the pipeline segment divested its regulated and non-regulated natural gas gathering assets. With the completion of these sales, the segment has exited the natural gas gathering business. The construction materials and contracting segment mines, processes and sells construction aggregates (crushed stone, sand and gravel); produces and sells asphalt mix; and supplies ready-mixed concrete. This segment focuses on vertical integration of its contracting services with its construction materials to support the aggregate-based product lines including aggregate placement, asphalt and concrete paving, and site development and grading. Although not common to all locations, other products include the sale of cement, liquid asphalt for various commercial and roadway applications, various finished concrete products and other building materials and related contracting services. This segment operates in the central, southern and western United States, including Alaska and Hawaii. The construction services segment provides inside and outside specialty contracting services in 44 states plus Washington D.C. Its inside services include design, construction and maintenance of electrical and communication wiring and infrastructure, fire suppression systems, and mechanical piping and services. Its outside services include design, construction and maintenance of overhead and underground electrical distribution and transmission lines, substations, external lighting, traffic signalization, and gas pipelines, as well as utility excavation and the manufacture and distribution of transmission line construction equipment. This segment also constructs and maintains renewable energy projects. These specialty contracting services are provided to utilities and large manufacturing, commercial, industrial, institutional and governmental customers. The Other category includes the activities of Centennial Capital, which, through its subsidiary InterSource Insurance Company, 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 self-insured layers of the insured Company's general liability, automobile liability, pollution liability and other coverages. Centennial Capital also owns certain real and personal property. In addition, the Other category includes certain assets, liabilities and tax adjustments of the holding company primarily associated with corporate functions and 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 Brazil. Discontinued operations include the results and supporting activities of Dakota Prairie Refining and Fidelity other than certain general and administrative costs and interest expense as described above. The information below follows the same accounting policies as described in Note 2. Information on the Company's segments as of December 31 and for the years then ended was as follows:
| 2020 | 2019 |  | 2018 |
|  | (In thousands) |
External operating revenues: |  |  |
Regulated operations: |  |  |
Electric | $ | 331,538 |  | $ | 351,725 |  | $ | 335,123 |
Natural gas distribution | 847,651 |  | 865,222 |  | 823,247 |
Pipeline | 69,957 |  | 62,357 |  | 54,857 |
| 1,249,146 |  | 1,279,304 |  | 1,213,227 |
Non-regulated operations: |  |  |
Pipeline | 15,389 |  | 21,835 |  | 23,161 |
Construction materials and contracting | 2,177,585 |  | 2,189,651 |  | 1,925,185 |
Construction services | 2,090,685 |  | 1,845,896 |  | 1,369,772 |
Other | (55) |  | 90 |  | 207 |
| 4,283,604 |  | 4,057,472 |  | 3,318,325 |
Total external operating revenues | $ | 5,532,750 |  | $ | 5,336,776 |  | $ | 4,531,552 |
| 2020 | 2019 |  | 2018 |
|  | (In thousands) |
Intersegment operating revenues: |  |  |
Regulated operations: |  |  |
Electric | $ | 491 |  | $ | — |  | $ | — |
Natural gas distribution | 534 |  | — |  | — |
Pipeline | 57,977 |  | 56,037 |  | 50,580 |
| 59,002 |  | 56,037 |  | 50,580 |
Non-regulated operations: |  |  |
Pipeline | 554 |  | 215 |  | 325 |
Construction materials and contracting | 417 |  | 1,066 |  | 669 |
Construction services | 5,038 |  | 3,370 |  | 1,681 |
Other | 11,958 |  | 16,461 |  | 11,052 |
| 17,967 |  | 21,112 |  | 13,727 |
Intersegment eliminations | (76,969) |  | (77,149) |  | (64,307) |
Total intersegment operating revenues | $ | — |  | $ | — |  | $ | — |
Depreciation, depletion and amortization: |  |  |
Electric | $ | 62,998 |  | $ | 58,721 |  | $ | 50,982 |
Natural gas distribution | 84,580 |  | 79,564 |  | 72,486 |
Pipeline | 21,669 |  | 21,220 |  | 17,896 |
Construction materials and contracting | 89,626 |  | 77,450 |  | 61,158 |
Construction services | 23,523 |  | 17,038 |  | 15,728 |
Other | 2,704 |  | 2,024 |  | 1,955 |
Total depreciation, depletion and amortization | $ | 285,100 |  | $ | 256,017 |  | $ | 220,205 |
Operating income (loss): |  |  |
Electric | $ | 63,434 |  | $ | 64,039 |  | $ | 65,148 |
Natural gas distribution | 73,082 |  | 69,188 |  | 72,336 |
Pipeline | 49,436 |  | 42,796 |  | 36,128 |
Construction materials and contracting | 214,498 |  | 179,955 |  | 141,426 |
Construction services | 147,644 |  | 126,426 |  | 86,764 |
Other | (3,169) |  | (1,184) |  | (79) |
Total operating income | $ | 544,925 |  | $ | 481,220 |  | $ | 401,723 |
Interest expense: |  |  |
Electric | $ | 26,699 |  | $ | 25,334 |  | $ | 25,860 |
Natural gas distribution | 36,798 |  | 35,488 |  | 30,768 |
Pipeline | 7,622 |  | 7,198 |  | 5,964 |
Construction materials and contracting | 20,577 |  | 23,792 |  | 17,290 |
Construction services | 4,095 |  | 5,331 |  | 3,551 |
Other | 883 |  | 1,859 |  | 2,762 |
Intersegment eliminations | (155) |  | (415) |  | (1,581) |
Total interest expense | $ | 96,519 |  | $ | 98,587 |  | $ | 84,614 |
Income tax expense (benefit): |  |  |
Electric | $ | (11,636) |  | $ | (12,650) |  | $ | (6,482) |
Natural gas distribution | 5,746 |  | 1,405 |  | 4,075 |
Pipeline | 7,650 |  | 7,219 |  | 2,677 |
Construction materials and contracting | 47,431 |  | 37,389 |  | 28,357 |
Construction services | 35,797 |  | 29,973 |  | 20,000 |
Other | (398) |  | (57) |  | (1,142) |
Total income expense | $ | 84,590 |  | $ | 63,279 |  | $ | 47,485 |
| 2020 | 2019 |  | 2018 |
|  | (In thousands) |
Net income (loss): |  |  |
Regulated operations: |  |  |
Electric | $ | 55,601 |  | $ | 54,763 |  | $ | 47,000 |
Natural gas distribution | 44,049 |  | 39,517 |  | 37,732 |
Pipeline | 35,453 |  | 28,255 |  | 26,905 |
| 135,103 |  | 122,535 |  | 111,637 |
Non-regulated operations: |  |  |
Pipeline | 1,559 |  | 1,348 |  | 1,554 |
Construction materials and contracting | 147,325 |  | 120,371 |  | 92,647 |
Construction services | 109,721 |  | 92,998 |  | 64,309 |
Other | (3,181) |  | (2,086) |  | (761) |
| 255,424 |  | 212,631 |  | 157,749 |
Income from continuing operations | 390,527 |  | 335,166 |  | 269,386 |
Income (loss) from discontinued operations, net of tax | (322) |  | 287 |  | 2,932 |
Net income | $ | 390,205 |  | $ | 335,453 |  | $ | 272,318 |
Capital expenditures: |  |  |
Electric | $ | 114,676 |  | $ | 99,449 |  | $ | 186,105 |
Natural gas distribution | 193,048 |  | 206,799 |  | 205,896 |
Pipeline | 62,224 |  | 71,477 |  | 70,057 |
Construction materials and contracting | 191,635 |  | 190,092 |  | 280,396 |
Construction services | 83,651 |  | 60,500 |  | 25,081 |
Other | 3,045 |  | 8,181 |  | 1,768 |
Total capital expenditures (a) | $ | 648,279 |  | $ | 636,498 |  | $ | 769,303 |
Assets: |  |  |
Electric (b) | $ | 2,123,693 |  | $ | 1,680,194 |  | $ | 1,613,822 |
Natural gas distribution (b) | 2,302,770 |  | 2,574,965 |  | 2,375,871 |
Pipeline | 703,377 |  | 677,482 |  | 616,959 |
Construction materials and contracting | 1,798,493 |  | 1,684,161 |  | 1,508,032 |
Construction services | 818,662 |  | 761,127 |  | 604,798 |
Other (c) | 305,157 |  | 303,279 |  | 266,111 |
Assets held for sale | 1,220 |  | 1,851 |  | 2,517 |
Total assets | $ | 8,053,372 |  | $ | 7,683,059 |  | $ | 6,988,110 |
Property, plant and equipment: |  |  |
Electric (b) | $ | 2,323,403 |  | $ | 2,227,145 |  | $ | 2,148,569 |
Natural gas distribution (b) | 2,868,853 |  | 2,688,123 |  | 2,499,093 |
Pipeline | 821,697 |  | 834,215 |  | 764,959 |
Construction materials and contracting | 2,028,476 |  | 1,910,562 |  | 1,768,006 |
Construction services | 220,796 |  | 213,370 |  | 188,586 |
Other | 37,545 |  | 35,213 |  | 28,108 |
Less accumulated depreciation, depletion and amortization | 3,133,831 |  | 2,991,486 |  | 2,818,644 |
Net property, plant and equipment | $ | 5,166,939 |  | $ | 4,917,142 |  | $ | 4,578,677 |
(a) Capital expenditures for 2020, 2019 and 2018 include noncash transactions such as the issuance of the Company's equity securities in connection with acquisitions, capital expenditure-related accounts payable, AFUDC and accrual of holdback payments in connection with acquisitions totaling $(15.7) million, $4.8 million and $33.4 million, respectively. (b) Includes allocations of common utility property. (c) Includes assets not directly assignable to a business (i.e. cash and cash equivalents, certain accounts receivable, certain investments and other miscellaneous current and deferred assets).

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration