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Segment Information
3 Months Ended
Mar. 31, 2023
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 and cash equivalents, 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 months ended March 31, 2023 and 2022 are as follows:
Three Months Ended March 31,
(in thousands)20232022
Operating Revenue
Electric$151,909 $130,416 
Manufacturing106,782 104,957 
Plastics80,390 139,531 
Total$339,081 $374,904 
Net Income (Loss)
Electric$23,221 $19,233 
Manufacturing6,862 4,084 
Plastics33,686 50,846 
Corporate(1,288)(2,160)
Total$62,481 $72,003 
The following provides the identifiable assets by segment and corporate assets as of March 31, 2023 and December 31, 2022:
(in thousands)March 31,
2023
December 31,
2022
Identifiable Assets
Electric$2,418,544 $2,351,961 
Manufacturing256,451 245,869 
Plastics149,256 126,318 
Corporate163,159 177,513 
Total$2,987,410 $2,901,661