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Revenue from contracts with customers | 6 Months Ended
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Jun. 30, 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. Under 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 June 30, 2025 | Electric | Natural gas distribution | Pipeline | Other | Total
| (In thousands)
Residential utility sales | $ | 28,569 |  | $ | 100,041 |  | $ | — |  | $ | — |  | $ | 128,610 |
Commercial utility sales | 43,428 |  | 65,699 |  | — |  | — |  | 109,127 |
Industrial utility sales | 9,247 |  | 9,098 |  | — |  | — |  | 18,345 |
Other utility sales | 1,793 |  | — |  | — |  | — |  | 1,793 |
Natural gas transportation | — |  | 15,814 |  | 46,120 |  | — |  | 61,934 |
Natural gas storage | — |  | — |  | 5,172 |  | — |  | 5,172 |
Other | 17,123 |  | 11,626 |  | 4,977 |  | 179 |  | 33,905 |
Intersegment eliminations | (140) |  | (92) |  | (9,796) |  | (180) |  | (10,208) |
Revenues from contracts with customers | 100,020 |  | 202,186 |  | 46,473 |  | (1) |  | 348,678 |
Other revenues | (2,134) |  | 4,608 |  | 34 |  | — |  | 2,508 |
Total external operating revenues | $ | 97,886 |  | $ | 206,794 |  | $ | 46,507 |  | $ | (1) |  | $ | 351,186 |
Three Months Ended June 30, 2024 | Electric | Natural gas distribution | Pipeline | Other | Total
| (In thousands)
Residential utility sales | $ | 31,437 |  | $ | 106,690 |  | $ | — |  | $ | — |  | $ | 138,127 |
Commercial utility sales | 41,620 |  | 64,274 |  | — |  | — |  | 105,894 |
Industrial utility sales | 11,758 |  | 9,268 |  | — |  | — |  | 21,026 |
Other utility sales | 2,065 |  | — |  | — |  | — |  | 2,065 |
Natural gas transportation | — |  | 13,324 |  | 43,406 |  | — |  | 56,730 |
Natural gas storage | — |  | — |  | 5,331 |  | — |  | 5,331 |
Other | 13,186 |  | 5,767 |  | 4,110 |  | 22 |  | 23,085 |
Intersegment eliminations | (48) |  | (35) |  | (9,035) |  | (20) |  | (9,138) |
Revenues from contracts with customers | 100,018 |  | 199,288 |  | 43,812 |  | 2 |  | 343,120 |
Other revenues | (845) |  | 2,157 |  | 39 |  | — |  | 1,351 |
Total external operating revenues | $ | 99,173 |  | $ | 201,445 |  | $ | 43,851 |  | $ | 2 |  | $ | 344,471 |
Six Months Ended June 30, 2025 | Electric | Natural gas distribution | Pipeline | Other | Total
| (In thousands)
Residential utility sales | $ | 68,254 |  | $ | 389,276 |  | $ | — |  |  | $ | 457,530 |
Commercial utility sales | 91,905 |  | 258,030 |  | — |  |  | 349,935 |
Industrial utility sales | 18,411 |  | 24,560 |  | — |  |  | 42,971 |
Other utility sales | 3,643 |  | — |  | — |  |  | 3,643 |
Natural gas transportation | — |  | 33,524 |  | 95,373 |  |  | 128,897 |
Natural gas storage | — |  | — |  | 11,202 |  |  | 11,202 |
Other | 34,714 |  | 35,103 |  | 6,339 |  | 358 |  | 76,514 |
Intersegment eliminations | (318) |  | (187) |  | (43,132) |  | (358) |  | (43,995) |
Revenues from contracts with customers | 216,609 |  | 740,306 |  | 69,782 |  | — |  | 1,026,697 |
Other revenues | (6,462) |  | 5,735 |  | 49 |  |  | (678) |
Total external operating revenues | $ | 210,147 |  | $ | 746,041 |  | $ | 69,831 |  | $ | — |  | $ | 1,026,019 |
Six Months Ended June 30, 2024 | Electric | Natural gas distribution | Pipeline | Other | Total
| (In thousands)
Residential utility sales | $ | 70,659 |  | $ | 369,793 |  | $ | — |  | $ | — |  | $ | 440,452 |
Commercial utility sales | 83,135 |  | 226,404 |  | — |  | — |  | 309,539 |
Industrial utility sales | 23,107 |  | 23,847 |  | — |  | — |  | 46,954 |
Other utility sales | 4,001 |  | — |  | — |  | — |  | 4,001 |
Natural gas transportation | — |  | 27,915 |  | 87,043 |  | — |  | 114,958 |
Natural gas storage | — |  | — |  | 10,713 |  | — |  | 10,713 |
Other | 28,816 |  | 8,969 |  | 6,366 |  | 59 |  | 44,210 |
Intersegment eliminations | (60) |  | (76) |  | (39,325) |  | (42) |  | (39,503) |
Revenues from contracts with customers | 209,658 |  | 656,852 |  | 64,797 |  | 17 |  | 931,324 |
Revenues out of scope | (2,742) |  | 4,078 |  | 86 |  | — |  | 1,422 |
Total external operating revenues | $ | 206,916 |  | $ | 660,930 |  | $ | 64,883 |  | $ | 17 |  | $ | 932,746 |
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 June 30, 2025, the Company's remaining performance obligations were $573.3 million. The Company expects to recognize the following revenue amounts in future periods related to these remaining performance obligations: $87.0 million within the next 12 months or less; $83.0 million within the next 13 to 24 months; and $403.3 million in 25 months or more.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-7 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
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