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Segment Information (Tables) | 6 Months Ended
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Jun. 30, 2025
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information by Segment | The following table presents information about our reportable segments:
| Three Months Ended June 30,
| 2025 |  | 2024
(in millions) | Regulated | Unregulated | Other Businesses and Eliminations (1) | Total |  | Regulated | Unregulated | Other Businesses and Eliminations (1) | Total
Operating revenues, unaffiliated customers | $ | 151.4 |  | $ | 41.4 |  | $ | — |  | $ | 192.8 |  |  | $ | 127.0 |  | $ | 39.3 |  | $ | — |  | $ | 166.3 |
Intersegment revenues (2) | 0.4 |  | 6.5 |  | (6.9) |  | — |  |  | 3.7 |  | 2.1 |  | (5.8) |  | — |
| 151.8 |  | 47.9 |  | (6.9) |  | 192.8 |  |  | 130.7 |  | 41.4 |  | (5.8) |  | 166.3 |
Less: |  |  |  |  |  |  |  |  |
Natural gas, propane and electric costs | 34.1 |  | 22.9 |  | (7.0) |  | 50.0 |  |  | 27.4 |  | 18.0 |  | (5.7) |  | 39.7 |
Operations and maintenance expenses | 40.7 |  | 20.2 |  | — |  | 60.9 |  |  | 39.3 |  | 18.6 |  | — |  | 57.9 |
Depreciation and amortization | 16.8 |  | 5.1 |  | — |  | 21.9 |  |  | 14.7 |  | 3.2 |  | — |  | 17.9 |
Other segment items (3) | 8.4 |  | 1.2 |  | 0.1 |  | 9.7 |  |  | 8.8 |  | 1.2 |  | — |  | 10.0 |
Segment operating income | $ | 51.8 |  | $ | (1.5) |  | $ | — |  | $ | 50.3 |  |  | $ | 40.5 |  | $ | 0.4 |  | $ | (0.1) |  | $ | 40.8 |
Other income, net |  |  |  | 0.4 |  |  |  |  |  | 1.0 |
Interest charges |  |  |  | 17.8 |  |  |  |  |  | 16.8 |
Income before income taxes |  |  |  | 32.9 |  |  |  |  |  | 25.0 |
Income taxes |  |  |  | 9.0 |  |  |  |  |  | 6.8 |
Net Income |  |  |  | $ | 23.9 |  |  |  |  |  | $ | 18.2 |
Capital expenditures | $ | 91.5 |  | $ | 7.7 |  | $ | 0.7 |  | $ | 99.9 |  |  | $ | 82.0 |  | $ | 6.5 |  | $ | 0.4 |  | $ | 88.9 |
(1) Other revenues and other operating income (loss) amounts are attributable to eliminations and unregulated subsidiaries that own real estate leased to the Company. (2) All significant intersegment revenues are billed at market rates and have been eliminated from consolidated revenues. (3) Other segment items for each reportable segment include: Regulated - Other taxes and transaction and transition costs related to the integration of FCG; Unregulated - Other taxes.
| Six Months Ended June 30,
| 2025 |  | 2024
(in millions) | Regulated | Unregulated | Other Businesses and Eliminations (1) | Total |  | Regulated | Unregulated | Other Businesses and Eliminations (1) | Total
Operating revenues, unaffiliated customers | $ | 350.6 |  | $ | 140.9 |  | $ | — |  | $ | 491.5 |  |  | $ | 294.9 |  | $ | 117.1 |  | $ | — |  | $ | 412.0 |
Intersegment revenues (2) | 0.8 |  | 13.7 |  | (14.5) |  | — |  |  | 4.2 |  | 7.4 |  | (11.6) |  | — |
| 351.4 |  | 154.6 |  | (14.5) |  | 491.5 |  |  | 299.1 |  | 124.5 |  | (11.6) |  | 412.0 |
Less: |  |  |  |  |  |  |  |  |
Natural gas, propane and electric costs | 105.6 |  | 75.1 |  | (14.4) |  | 166.3 |  |  | 77.3 |  | 55.1 |  | (11.5) |  | 120.9 |
Operations and maintenance expenses | 82.4 |  | 42.0 |  | (0.1) |  | 124.3 |  |  | 78.3 |  | 37.2 |  | (0.1) |  | 115.4 |
Depreciation and amortization | 34.4 |  | 10.0 |  | — |  | 44.4 |  |  | 27.2 |  | 7.7 |  | — |  | 34.9 |
Other segment items (3) | 16.7 |  | 2.7 |  | — |  | 19.4 |  |  | 17.7 |  | 2.7 |  | — |  | 20.4 |
Segment operating income | $ | 112.3 |  | $ | 24.8 |  | $ | — |  | $ | 137.1 |  |  | $ | 98.6 |  | $ | 21.8 |  | $ | — |  | $ | 120.4 |
Other income, net |  |  |  | 1.0 |  |  |  |  |  | 1.2 |
Interest charges |  |  |  | 35.9 |  |  |  |  |  | 33.8 |
Income before income taxes |  |  |  | 102.2 |  |  |  |  |  | 87.8 |
Income taxes |  |  |  | 27.4 |  |  |  |  |  | 23.4 |
Net Income |  |  |  | $ | 74.8 |  |  |  |  |  | $ | 64.4 |
Capital expenditures | $ | 187.6 |  | $ | 22.5 |  | $ | 2.7 |  | $ | 212.8 |  |  | $ | 141.9 |  | $ | 16.3 |  | $ | 1.3 |  | $ | 159.5 |
(1) Other revenues and other operating income (loss) amounts are attributable to eliminations and unregulated subsidiaries that own real estate leased to the Company. (2) All significant intersegment revenues are billed at market rates and have been eliminated from consolidated revenues. (3) Other segment items for each reportable segment include: Regulated - Other taxes and transaction and transition costs related to the integration of FCG; Unregulated - Other taxes.
(in millions) |  | June 30, 2025 |  | December 31, 2024
Identifiable Assets |  |  |  |
Regulated Energy segment |  | $ | 3,212.8 |  |  | $ | 3,042.9 |
Unregulated Energy segment |  | 466.7 |  |  | 486.4 |
Other Businesses and Eliminations |  | 58.3 |  |  | 47.7 |
Total Identifiable Assets |  | $ | 3,737.8 |  |  | $ | 3,577.0 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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