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Segment Information
6 Months Ended
Jun. 30, 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 and six months ended June 30, 2023 and 2022 are as follows:
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)2023202220232022
Operating Revenue
Electric$113,763 $130,949 $265,671 $261,365 
Manufacturing102,475 103,196 209,257 208,154 
Plastics121,478 165,895 201,869 305,425 
Total$337,716 $400,040 $676,797 $774,944 
Net Income (Loss)
Electric$19,634 $18,858 $42,854 $38,091 
Manufacturing5,969 7,555 12,831 11,639 
Plastics55,392 63,959 89,078 114,806 
Corporate974 (4,435)(313)(6,596)
Total$81,969 $85,937 $144,450 $157,940 
The following provides the identifiable assets by segment and corporate assets as of June 30, 2023 and December 31, 2022:
(in thousands)June 30,
2023
December 31,
2022
Identifiable Assets
Electric$2,446,293 $2,351,961 
Manufacturing260,050 245,869 
Plastics177,470 126,318 
Corporate210,173 177,513 
Total$3,093,986 $2,901,661