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Segment Information
6 Months Ended
Jun. 30, 2022
Segment Reporting [Abstract]  
Segment Information Segment Information
We classify our business into three segments, Electric, Manufacturing and Plastics, consistent with our business strategy, organizational structure and our internal reporting and review processes used by our chief operating decision maker to make decisions regarding allocation of resources, to assess operating performance and to make strategic decisions.
Certain assets and costs are not allocated to our operating segments. Corporate operating costs include items such as corporate staff and overhead costs, the results of our captive insurance company and other items excluded from the measurement of operating segment performance. Corporate assets consist primarily of cash, prepaid expenses, investments and fixed assets. Corporate is not an operating segment, rather it is added to operating segment totals to reconcile to consolidated amounts.
Information for each segment and our unallocated corporate costs for the three and six months ended June 30, 2022 and 2021 are as follows:
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)2022202120222021
Operating Revenue
Electric$130,949 $106,155 $261,365 $229,855 
Manufacturing103,196 84,284 208,154 160,107 
Plastics165,895 95,169 305,425 157,356 
Total$400,040 $285,608 $774,944 $547,318 
Net Income (Loss)
Electric$18,858 $15,433 $38,091 $33,019 
Manufacturing7,555 5,705 11,639 11,089 
Plastics63,959 22,544 114,806 31,692 
Corporate(4,435)(1,613)(6,596)(3,402)
Total$85,937 $42,069 $157,940 $72,398 
The following provides the identifiable assets by segment and corporate assets as of June 30, 2022 and December 31, 2021:
(in thousands)June 30,
2022
December 31,
2021
Identifiable Assets
Electric$2,309,245 $2,283,776 
Manufacturing267,050 251,044 
Plastics201,724 162,565 
Corporate97,481 57,445 
Total$2,875,500 $2,754,830