XML 27 R17.htm IDEA: XBRL DOCUMENT v3.25.1
Revenue from contracts with customers
 3 Months Ended
Mar. 31, 2025
Revenue from Contract with Customer [Abstract]  
Revenue from contracts with customers Revenue from contracts with customers
Revenue is recognized when a performance obligation is satisfied by transferring control over a product or service to a customer. Revenue is measured based on consideration specified in a contract with a customer and excludes any sales incentives and amounts collected on behalf of third parties. The Company is considered an agent for certain taxes collected from customers. As such, the Company presents revenues net of these taxes at the time of sale to be remitted to governmental authorities, including sales and use taxes.

As part of the adoption of ASC 606 - Revenue from Contracts with Customers, the Company elected the practical expedient to recognize the incremental costs of obtaining a contract as an expense when incurred if the amortization period of the asset that the Company otherwise would have recognized is 12 months or less.
The Company recognizes revenue from the sale of emissions allowances allocated under the environmental programs in certain states. The Company has the right to payment when the allowances are sold at auction. Revenue is recognized on a point in time basis within the quarter that the auction is held. The revenues associated with the sale of these allowances are deferred as a component of the respective jurisdiction’s regulatory liability for environmental compliance. For more information on the Company’s regulatory assets and liabilities, see Note 9.
Disaggregation
In the following tables, revenue is disaggregated by the type of customer or service provided. The Company believes this level of disaggregation best depicts how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors. The table also includes a reconciliation of the disaggregated revenue by reportable segments. For more information on the Company's business segments, see Note 14.
Three Months Ended March 31, 2025ElectricNatural gas
distribution		PipelineOtherTotal
(In thousands)
Residential utility sales
$39,685 $289,235 $— $— $328,920 
Commercial utility sales
48,477 192,331 — — 240,808 
Industrial utility sales
9,164 15,462 — — 24,626 
Other utility sales
1,850 — — — 1,850 
Natural gas transportation
— 17,710 49,253 — 66,963 
Natural gas storage
— — 6,030 — 6,030 
Other
17,591 23,478 1,362 179 42,610 
Intersegment eliminations
(178)(94)(33,337)(178)(33,787)
Revenues from contracts with customers
116,589 538,122 23,308 1 678,020 
Other revenues
(4,328)1,126 15 — (3,187)
Total external operating revenues
$112,261 $539,248 $23,323 $1 $674,833 
Three Months Ended March 31, 2024ElectricNatural gas
distribution		PipelineOtherTotal
(In thousands)
Residential utility sales
$39,222 $263,103 $— $— $302,325 
Commercial utility sales
41,515 162,130 — — 203,645 
Industrial utility sales
11,349 14,579 — — 25,928 
Other utility sales
1,936 — — — 1,936 
Natural gas transportation
— 14,591 43,637 — 58,228 
Natural gas storage
— — 5,382 — 5,382 
Other
15,630 3,201 2,256 37 21,124 
Intersegment eliminations
(12)(41)(30,290)(21)(30,364)
Revenues from contracts with customers
109,640 457,563 20,985 16 588,204 
Other revenues
(1,897)1,921 47 — 71 
Total external operating revenues
$107,743 $459,484 $21,032 $16 $588,275 
Three Months Ended March 31, 2025ElectricNatural gas
distribution		PipelineConstruction
services		OtherTotal
Three Months Ended March 31, 2024ElectricNatural gas
distribution		PipelineConstruction
services		OtherTotal
Remaining performance obligations
The remaining performance obligations at the pipeline segment include firm transportation and storage contracts with fixed pricing and fixed volumes. The Company has applied the practical expedient that does not require additional disclosures for contracts with an original duration of less than 12 months, to certain firm transportation, storage and non-regulated contracts. The Company's firm transportation and storage contracts included in the remaining performance obligations have weighted average remaining durations of less than five years and two years, respectively.
At March 31, 2025, the Company's remaining performance obligations were $587.7 million. The Company expects to recognize the following revenue amounts in future periods related to these remaining performance obligations: $82.6 million within the next 12 months or less; $81.9 million within the next 13 to 24 months; and $423.2 million in 25 months or more.