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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Operating revenues:        
Operating revenues: $ 1,050,516 $ 1,000,795 $ 3,311,886 $ 3,522,020
Operating expenses:        
Total operation and maintenance 786,637 738,658 2,191,547 2,304,796
Purchased natural gas sold 53,377 55,967 406,569 542,848
Electric fuel and purchased power 25,210 28,966 87,543 73,755
Depreciation and amortization 56,160 53,146 167,791 158,877
Taxes, other than income 38,328 39,454 141,939 156,587
Total operating expenses 959,712 916,191 2,995,389 3,236,863
Operating income 90,804 84,604 316,497 285,157
Unrealized gain on retained shares in Knife River 0 30,150 0 170,170
Other income 13,838 8,918 42,287 29,251
Interest expense 29,466 32,129 86,780 82,541
Income before income taxes 75,176 91,543 272,004 402,037
Income taxes 13,017 13,325 48,373 92,311
Income from continuing operations 62,159 78,218 223,631 309,726
Discontinued operations, net of tax 2,456 (3,289) 2,319 (65,752)
Net income $ 64,615 $ 74,929 $ 225,950 $ 243,974
Earnings per share - basic:        
Income from continuing operations (in usd per share) $ 0.31 $ 0.38 $ 1.10 $ 1.52
Discontinued operations, net of tax (in usd per share) 0.01 (0.01) 0.01 (0.32)
Earnings per share - basic (in usd per share) 0.32 0.37 1.11 1.20
Earnings per share - diluted:        
Income from continuing operations (in usd per share) 0.31 0.38 1.10 1.52
Discontinued operations, net of tax (in usd per share) 0.01 (0.01) 0.01 (0.32)
Earnings per share - diluted (in usd per share) $ 0.32 $ 0.37 $ 1.11 $ 1.20
Weighted average common shares outstanding - basic (in shares) 203,888 203,638 203,852 203,633
Weighted average common shares outstanding - diluted (in shares) 204,678 203,886 204,451 203,891
Regulated operation        
Operating revenues:        
Operating revenues: $ 286,053 $ 279,534 $ 1,212,615 $ 1,293,959
Operating expenses:        
Total operation and maintenance 101,308 99,295 307,697 296,818
Income from continuing operations 21,621 14,628 122,324 100,923
Nonregulated operation        
Operating revenues:        
Operating revenues: 764,463 721,261 2,099,271 2,228,061
Operating expenses:        
Total operation and maintenance 685,329 639,363 1,883,850 2,007,978
Income from continuing operations $ 40,538 $ 63,590 $ 101,307 $ 208,803