XML 81 R51.htm IDEA: XBRL DOCUMENT
v3.22.4

Business segment data (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Segment Reporting [Abstract] |
Information on the Company's businesses | Information on the Company's segments as of December 31 and for the years then ended was as follows:
| 2022 | 2021 |  | 2020 |
|  | (In thousands) |
External operating revenues: |  |  |
Regulated operations: |  |  |
Electric | $ | 376,579 |  | $ | 349,039 |  | $ | 331,538 |
Natural gas distribution | 1,273,249 |  | 971,364 |  | 847,651 |
Pipeline | 85,931 |  | 69,940 |  | 69,957 |
| 1,735,759 |  | 1,390,343 |  | 1,249,146 |
Non-regulated operations: |  |  |
Pipeline | 10,636 |  | 12,918 |  | 15,389 |
Construction materials and contracting | 2,533,713 |  | 2,228,306 |  | 2,177,585 |
Construction services | 2,693,756 |  | 2,049,082 |  | 2,090,685 |
Other | — |  | 84 |  | (55) |
| 5,238,105 |  | 4,290,390 |  | 4,283,604 |
Total external operating revenues | $ | 6,973,864 |  | $ | 5,680,733 |  | $ | 5,532,750 |
| 2022 | 2021 |  | 2020 |
|  | (In thousands) |
Intersegment operating revenues: |  |  |
Regulated operations: |  |  |
Electric | $ | 494 |  | $ | 543 |  | $ | 491 |
Natural gas distribution | 555 |  | 576 |  | 534 |
Pipeline | 58,368 |  | 58,989 |  | 57,977 |
| 59,417 |  | 60,108 |  | 59,002 |
Non-regulated operations: |  |  |
Pipeline | 644 |  | 689 |  | 554 |
Construction materials and contracting | 1,016 |  | 624 |  | 417 |
Construction services | 5,494 |  | 2,555 |  | 5,038 |
Other | 17,605 |  | 13,630 |  | 11,958 |
| 24,759 |  | 17,498 |  | 17,967 |
Total Intersegment operating revenues | $ | 84,176 |  | $ | 77,606 |  | $ | 76,969 |
Depreciation, depletion and amortization: |  |  |
Electric | $ | 67,802 |  | $ | 66,750 |  | $ | 62,998 |
Natural gas distribution | 89,466 |  | 86,065 |  | 84,580 |
Pipeline | 26,857 |  | 20,569 |  | 21,669 |
Construction materials and contracting | 117,798 |  | 100,974 |  | 89,626 |
Construction services | 21,468 |  | 20,270 |  | 23,523 |
Other | 4,435 |  | 4,586 |  | 2,704 |
Total depreciation, depletion and amortization | $ | 327,826 |  | $ | 299,214 |  | $ | 285,100 |
Operating income (loss): |  |  |
Electric | $ | 79,655 |  | $ | 66,335 |  | $ | 63,434 |
Natural gas distribution | 91,889 |  | 89,173 |  | 73,082 |
Pipeline | 55,466 |  | 48,078 |  | 49,436 |
Construction materials and contracting | 194,295 |  | 191,077 |  | 214,498 |
Construction services | 164,644 |  | 145,754 |  | 147,644 |
Other | (11,996) |  | (6,198) |  | (3,169) |
Total operating income | $ | 573,953 |  | $ | 534,219 |  | $ | 544,925 |
Interest expense: |  |  |
Electric | $ | 28,526 |  | $ | 26,712 |  | $ | 26,699 |
Natural gas distribution | 42,126 |  | 37,265 |  | 36,798 |
Pipeline | 11,318 |  | 7,010 |  | 7,622 |
Construction materials and contracting | 30,121 |  | 19,218 |  | 20,577 |
Construction services | 6,354 |  | 3,540 |  | 4,095 |
Other | 1,465 |  | 342 |  | 883 |
Intersegment eliminations | (637) |  | (103) |  | (155) |
Total interest expense | $ | 119,273 |  | $ | 93,984 |  | $ | 96,519 |
Income tax expense (benefit): |  |  |
Electric | $ | (5,420) |  | $ | (7,626) |  | $ | (11,636) |
Natural gas distribution | 7,805 |  | 8,366 |  | 5,746 |
Pipeline | 10,212 |  | 9,594 |  | 7,650 |
Construction materials and contracting | 42,601 |  | 43,459 |  | 47,431 |
Construction services | 40,788 |  | 35,426 |  | 35,797 |
Other | (1,203) |  | (299) |  | (398) |
Total income tax expense | $ | 94,783 |  | $ | 88,920 |  | $ | 84,590 |
| 2022 | 2021 |  | 2020 |
|  | (In thousands) |
Net income (loss): |  |  |
Regulated operations: |  |  |
Electric | $ | 57,077 |  | $ | 51,906 |  | $ | 55,601 |
Natural gas distribution | 45,171 |  | 51,596 |  | 44,049 |
Pipeline | 35,357 |  | 39,583 |  | 35,453 |
| 137,605 |  | 143,085 |  | 135,103 |
Non-regulated operations: |  |  |
Pipeline | (69) |  | 1,313 |  | 1,559 |
Construction materials and contracting | 116,220 |  | 129,755 |  | 147,325 |
Construction services | 124,781 |  | 109,402 |  | 109,721 |
Other | (11,261) |  | (5,824) |  | (3,181) |
| 229,671 |  | 234,646 |  | 255,424 |
Income from continuing operations | 367,276 |  | 377,731 |  | 390,527 |
Discontinued operations, net of tax | 213 |  | 400 |  | (322) |
Net income | $ | 367,489 |  | $ | 378,131 |  | $ | 390,205 |
Capital expenditures: |  |  |
Electric | $ | 133,970 |  | $ | 82,427 |  | $ | 114,676 |
Natural gas distribution | 240,064 |  | 170,411 |  | 193,048 |
Pipeline | 61,923 |  | 234,803 |  | 62,224 |
Construction materials and contracting | 181,917 |  | 417,524 |  | 191,635 |
Construction services | 36,413 |  | 29,140 |  | 83,651 |
Other | 2,272 |  | 1,501 |  | 3,045 |
Total capital expenditures (a) | $ | 656,559 |  | $ | 935,806 |  | $ | 648,279 |
Assets: |  |  |
Electric (b) | $ | 1,856,258 |  | $ | 1,810,695 |  | $ | 2,123,693 |
Natural gas distribution (b) | 3,214,452 |  | 2,929,519 |  | 2,302,770 |
Pipeline | 961,893 |  | 913,945 |  | 703,377 |
Construction materials and contracting | 2,268,970 |  | 2,161,653 |  | 1,798,493 |
Construction services | 1,126,323 |  | 845,262 |  | 818,662 |
Other (c) | 232,885 |  | 249,361 |  | 306,377 |
Total assets | $ | 9,660,781 |  | $ | 8,910,435 |  | $ | 8,053,372 |
Property, plant and equipment: |  |  |
Electric (b) | $ | 2,276,613 |  | $ | 2,295,646 |  | $ | 2,323,403 |
Natural gas distribution (b) | 3,208,060 |  | 3,015,164 |  | 2,868,853 |
Pipeline | 1,108,141 |  | 1,051,868 |  | 821,697 |
Construction materials and contracting | 2,489,408 |  | 2,347,696 |  | 2,028,476 |
Construction services | 245,111 |  | 225,758 |  | 220,796 |
Other | 36,705 |  | 36,717 |  | 37,545 |
Less accumulated depreciation, depletion and amortization | 3,272,493 |  | 3,216,461 |  | 3,133,831 |
Net property, plant and equipment | $ | 6,091,545 |  | $ | 5,756,388 |  | $ | 5,166,939 |
(a)Capital expenditures for 2022, 2021 and 2020 include noncash transactions such as capital expenditure-related accounts payable, the issuance of the Company's equity securities in connection with an acquisition, AFUDC and accrual of holdback payments in connection with acquisitions totaling $1.7 million, $38.7 million and $(15.7) 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).
Reconciliation of Revenue from Segments to Consolidated | A reconciliation of reportable segment operating revenues and assets to consolidated operating revenues and assets is as follows:
| 2022 | 2021 |  | 2020 |
|  | (In thousands) |
Operating revenues reconciliation: |  |  |
Total reportable segment operating revenues | $ | 7,040,435 |  | $ | 5,744,625 |  | $ | 5,597,816 |
Other revenue | 17,605 |  | 13,714 |  | 11,903 |
Elimination of intersegment operating revenues | (84,176) |  | (77,606) |  | (76,969) |
Total consolidated operating revenues | $ | 6,973,864 |  | $ | 5,680,733 |  | $ | 5,532,750 |
Asset reconciliation: |  |  |
Total reportable segment assets | $ | 9,491,679 |  | $ | 8,717,563 |  | $ | 7,816,848 |
Other assets | 1,353,614 |  | 1,184,956 |  | 947,740 |
Elimination of intersegment receivables | (1,184,512) |  | (992,084) |  | (711,216) |
Total consolidated assets | $ | 9,660,781 |  | $ | 8,910,435 |  | $ | 8,053,372 |
Reconciliation of Assets from Segment to Consolidated | A reconciliation of reportable segment operating revenues and assets to consolidated operating revenues and assets is as follows:
| 2022 | 2021 |  | 2020 |
|  | (In thousands) |
Operating revenues reconciliation: |  |  |
Total reportable segment operating revenues | $ | 7,040,435 |  | $ | 5,744,625 |  | $ | 5,597,816 |
Other revenue | 17,605 |  | 13,714 |  | 11,903 |
Elimination of intersegment operating revenues | (84,176) |  | (77,606) |  | (76,969) |
Total consolidated operating revenues | $ | 6,973,864 |  | $ | 5,680,733 |  | $ | 5,532,750 |
Asset reconciliation: |  |  |
Total reportable segment assets | $ | 9,491,679 |  | $ | 8,717,563 |  | $ | 7,816,848 |
Other assets | 1,353,614 |  | 1,184,956 |  | 947,740 |
Elimination of intersegment receivables | (1,184,512) |  | (992,084) |  | (711,216) |
Total consolidated assets | $ | 9,660,781 |  | $ | 8,910,435 |  | $ | 8,053,372 |

X
- Definition Tabular disclosure of all significant reconciling items in the reconciliation of total assets from reportable segments to the entity's consolidated assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -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 + Details
Name: | us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of all significant reconciling items in the reconciliation of total revenues from reportable segments to the entity's consolidated revenues. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599 + Details
Name: | us-gaap_ReconciliationOfRevenueFromSegmentsToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 -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 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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