XML 34 R23.htm IDEA: XBRL DOCUMENT
v3.22.2.2

Business segment data | 9 Months Ended
--- | ---
Sep. 30, 2022
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. 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-mix 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, asphalt oil 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 a full spectrum of construction services through its electrical and mechanical and transmission and distribution specialty contracting services across the United States. These specialty contracting services are provided to utilities and manufacturing, transportation, commercial, industrial, institutional, renewable and governmental customers. Its electrical and mechanical contracting services include construction and maintenance of electrical and communication wiring and infrastructure, fire suppression systems, and mechanical piping and services. Its transmission and distribution contracting services include construction and maintenance of overhead and underground electrical, gas and communication infrastructure, as well as manufacturing and distribution of transmission line construction equipment and tools. 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, as well as transaction costs associated with the anticipated separation of Knife River. Discontinued operations include the supporting activities of 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 of the Notes to Consolidated Financial Statements in the 2021 Annual Report. Information on the Company's segments was as follows:
| Three Months Ended | Nine Months Ended
| September 30, | September 30,
| 2022 |  | 2021 |  | 2022 |  | 2021 |
| (In thousands)
External operating revenues: |  |  |  |
Regulated operations: |  |  |  |
Electric | $ | 99,193 |  | $ | 98,930 |  | $ | 278,249 |  | $ | 267,254 |
Natural gas distribution | 132,074 |  | 110,378 |  | 792,932 |  | 614,373 |
Pipeline | 32,347 |  | 27,757 |  | 69,347 |  | 58,390 |
| 263,614 |  | 237,065 |  | 1,140,528 |  | 940,017 |
| Three Months Ended | Nine Months Ended
| September 30, | September 30,
| 2022 |  | 2021 |  | 2022 |  | 2021 |
| (In thousands)
Non-regulated operations: |  |  |  |
Pipeline | 3,698 |  | 3,211 |  | 7,630 |  | 10,263 |
Construction materials and contracting | 975,085 |  | 831,189 |  | 1,996,533 |  | 1,730,521 |
Construction services | 734,809 |  | 514,523 |  | 1,969,995 |  | 1,556,737 |
Other | — |  | 25 |  | — |  | 70 |
| 1,713,592 |  | 1,348,948 |  | 3,974,158 |  | 3,297,591 |
Total external operating revenues | $ | 1,977,206 |  | $ | 1,586,013 |  | $ | 5,114,686 |  | $ | 4,237,608 |
Intersegment operating revenues: |  |  |  |
Regulated operations: |  |  |  |
Electric | $ | 124 |  | $ | 136 |  | $ | 371 |  | $ | 407 |
Natural gas distribution | 139 |  | 142 |  | 416 |  | 425 |
Pipeline | 3,508 |  | 3,845 |  | 36,845 |  | 37,530 |
| 3,771 |  | 4,123 |  | 37,632 |  | 38,362 |
Non-regulated operations: |  |  |  |
Pipeline | 87 |  | 63 |  | 483 |  | 470 |
Construction materials and contracting | 343 |  | 110 |  | 674 |  | 314 |
Construction services | 2,229 |  | 289 |  | 5,090 |  | 2,128 |
Other | 4,438 |  | 3,398 |  | 13,168 |  | 10,082 |
| 7,097 |  | 3,860 |  | 19,415 |  | 12,994 |
Intersegment eliminations | (10,868) |  | (7,983) |  | (57,047) |  | (51,356) |
Total intersegment operating revenues | $ | — |  | $ | — |  | $ | — |  | $ | — |
Operating income (loss): |  |  |  |
Electric | $ | 30,395 |  | $ | 27,310 |  | $ | 53,764 |  | $ | 53,982 |
Natural gas distribution | (16,688) |  | (14,249) |  | 38,929 |  | 42,925 |
Pipeline | 14,963 |  | 12,284 |  | 39,447 |  | 35,896 |
Construction materials and contracting | 147,367 |  | 133,712 |  | 157,116 |  | 171,274 |
Construction services | 34,949 |  | 30,120 |  | 110,588 |  | 108,172 |
Other | (1,135) |  | (8) |  | (2,081) |  | (226) |
Total operating income | $ | 209,851 |  | $ | 189,169 |  | $ | 397,763 |  | $ | 412,023 |
Net income (loss): |  |  |  |
Regulated operations: |  |  |  |
Electric | $ | 21,596 |  | $ | 20,564 |  | $ | 37,476 |  | $ | 41,618 |
Natural gas distribution | (18,058) |  | (15,390) |  | 10,758 |  | 20,081 |
Pipeline | 9,379 |  | 10,225 |  | 24,527 |  | 27,508 |
| 12,917 |  | 15,399 |  | 72,761 |  | 89,207 |
Non-regulated operations: |  |  |  |
Pipeline | 492 |  | 356 |  | (187) |  | 1,166 |
Construction materials and contracting | 102,764 |  | 96,282 |  | 95,337 |  | 116,865 |
Construction services | 27,977 |  | 23,130 |  | 83,755 |  | 81,839 |
Other | 3,783 |  | 3,795 |  | (1,368) |  | 2,172 |
| 135,016 |  | 123,563 |  | 177,537 |  | 202,042 |
Income from continuing operations | 147,933 |  | 138,962 |  | 250,298 |  | 291,249 |
Discontinued operations, net of tax | 38 |  | 314 |  | 103 |  | 348 |
Net income | $ | 147,971 |  | $ | 139,276 |  | $ | 250,401 |  | $ | 291,597 |

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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration