Balance Sheet
| Year Ending Dec 2025 (Update) | Year Ending Dec 2024 (Update) | Year Ending Dec 2023 (Update) | Year Ending Dec 2022 (Update) | |
|---|---|---|---|---|
| Cash & Equivalents | 19.00 | 30.00 | 35.00 | 13.43 |
| Cash and Short Term Investments | 19.00 | 30.00 | 35.00 | 13.43 |
| Accounts Receivable - Trade, Gross | 225.00 | 210.00 | 221.73 | 262.22 |
| Provision for Doubtful Accounts | -5.00 | -5.00 | -4.99 | -6.47 |
| Accounts Receivable - Trade, Net | 220.00 | 205.00 | 216.74 | 255.75 |
| Receivables - Other | 39.00 | 32.00 | 29.23 | 30.74 |
| Total Receivables, Net | 259.00 | 237.00 | 245.98 | 286.49 |
| Inventories - Raw Materials | 87.00 | 99.00 | 81.65 | 75.77 |
| Inventories - Other | 136.00 | 79.00 | 56.10 | 0.00 |
| Gas in Storage - Inventory | 8.00 | 10.00 | 16.27 | 26.79 |
| Fuel - Inventory | 5.00 | 5.00 | 5.96 | 5.12 |
| Total Inventory | 236.00 | 193.00 | 159.98 | 107.67 |
| Prepaid Expenses | 56.00 | 37.00 | 52.75 | 30.20 |
| Other Current Assets | 159.00 | 159.00 | 168.13 | 284.01 |
| Other Current Assets, Total | 159.00 | 159.00 | 168.13 | 284.01 |
| Total Current Assets | 729.00 | 656.00 | 661.84 | 721.80 |
| Other Property/Plant/Equipment - Gross | 105.00 | 132.00 | 137.81 | 108.29 |
| Property/Plant/Equipment, Total - Gross | 105.00 | 132.00 | 137.81 | 108.29 |
| Property/Plant/Equipment, Total - Net | 105.00 | 132.00 | 137.81 | 108.29 |
| Goodwill - Gross | 0.00 | 0.00 | 0.00 | 0.00 |
| Accumulated Goodwill Amortization | 0.00 | 0.00 | 0.00 | 0.00 |
| Goodwill, Net | 52.00 | 52.00 | 52.43 | 52.43 |
| Utility Plant - Gross | 8,894.00 | 8,418.00 | 7,979.01 | 7,725.84 |
| Utility Plant Accumulated Depreciation | -2,575.00 | -2,431.00 | -2,278.95 | -2,281.13 |
| Utility Plant, Net | 6,319.00 | 5,987.00 | 5,700.06 | 5,444.71 |
| Total Utility Plant, Net | 6,319.00 | 5,987.00 | 5,700.06 | 5,444.71 |
| LT Investment - Affiliate Companies | 160.00 | 169.00 | 164.90 | 159.36 |
| LT Investments - Other | 23.00 | 20.00 | 15.75 | 54.00 |
| Long Term Investments | 183.00 | 189.00 | 180.65 | 213.36 |
| Note Receivable - Long Term | 12.00 | 16.00 | 15.29 | 17.95 |
| Deferred Charges | 18.00 | 18.00 | 19.45 | 17.94 |
| Pension Benefits - Overfunded | 70.00 | 44.00 | 40.79 | 7.54 |
| Deferred Income Tax - Long Term Asset | 0.00 | 0.00 | 0.00 | 0.00 |
| Discontinued Operations - Long Term Asset | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Long Term Assets | 871.00 | 847.00 | 894.17 | 833.33 |
| Other Long Term Assets, Total | 959.00 | 909.00 | 954.41 | 858.81 |
| Total Assets | 8,359.00 | 7,941.00 | 7,702.48 | 7,417.35 |
| Accounts Payable | 163.00 | 125.00 | 143.26 | 202.95 |
| Accrued Expenses | 115.00 | 109.00 | 106.11 | 108.68 |
| Notes Payable/Short Term Debt | 388.00 | 354.00 | 349.00 | 463.00 |
| Current Portion of Long Term Debt/Capital Leases | 4.00 | 4.00 | 18.40 | 16.74 |
| Other Payables | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Current Liabilities | 208.00 | 179.00 | 158.43 | 173.16 |
| Other Current liabilities, Total | 208.00 | 179.00 | 158.43 | 173.16 |
| Total Current Liabilities | 878.00 | 771.00 | 775.21 | 964.53 |
| Long Term Debt | 2,806.00 | 2,666.00 | 2,566.91 | 2,332.56 |
| Capital Lease Obligations | 32.00 | 35.00 | 39.10 | 42.50 |
| Total Long Term Debt | 2,838.00 | 2,701.00 | 2,606.00 | 2,375.06 |
| Total Debt | 3,230.00 | 3,059.00 | 2,973.40 | 2,854.79 |
| Deferred Income Tax - Long Term Liability | 805.00 | 779.00 | 746.55 | 703.78 |
| Deferred Income Tax | 805.00 | 779.00 | 746.55 | 703.78 |
| Minority Interest | 0.00 | 0.00 | 0.00 | 0.00 |
| Reserves | 147.00 | 95.00 | 44.08 | 15.78 |
| Pension Benefits - Underfunded | 65.00 | 75.00 | 89.83 | 93.90 |
| Other Long Term Liabilities | 917.00 | 929.00 | 955.48 | 929.63 |
| Other Liabilities, Total | 1,129.00 | 1,099.00 | 1,089.40 | 1,039.31 |
| Total Liabilities | 5,650.00 | 5,350.00 | 5,217.15 | 5,082.68 |
| Common Stock | 1,805.00 | 1,720.00 | 1,644.33 | 1,525.19 |
| Common Stock, Total | 1,805.00 | 1,720.00 | 1,644.33 | 1,525.19 |
| Retained Earnings (Accumulated Deficit) | 905.00 | 871.00 | 841.35 | 811.54 |
| Minimum Pension Liability Adjustment | 0.00 | 0.00 | -0.36 | -2.06 |
| Other Comprehensive Income | -1.00 | 0.00 | 0.00 | 0.00 |
| Other Equity, Total | -1.00 | 0.00 | -0.36 | -2.06 |
| Total Equity | 2,709.00 | 2,591.00 | 2,485.32 | 2,334.67 |
| Total Liabilities & Shareholders' Equity | 8,359.00 | 7,941.00 | 7,702.48 | 7,417.35 |
| Shares Outstanding – Common Stock Primary Issue | 82.19 | 80.04 | 78.07 | 74.95 |
| Total Common Shares Outstanding | 82.19 | 80.04 | 78.07 | 74.95 |
| Treasury Shares – Common Primary Issue | 0.00 | 0.00 | 0.00 | 0.00 |
| Employees | 1,929.00 | 1,950.00 | 1,858.00 | 1,767.00 |
| Number of Common Shareholders | 5,541.00 | 5,781.00 | 6,110.00 | 6,339.00 |
| Accumulated Goodwill Amortization | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Current Assets less Inventory | 493.00 | 463.00 | 501.86 | 614.13 |
| Quick Ratio | 0.56 | 0.60 | 0.65 | 0.64 |
| Current Ratio | 0.83 | 0.85 | 0.85 | 0.75 |
| Net Debt | 3,211.00 | 3,029.00 | 2,938.40 | 2,841.36 |
| Tangible Book Value | 2,657.00 | 2,539.00 | 2,432.90 | 2,282.24 |
| Tangible Book Value per Share | 32.33 | 31.72 | 31.16 | 30.45 |
| Total Long Term Debt, Supplemental | 2,826.00 | 2,686.00 | 2,601.55 | 2,365.05 |
| Long Term Debt Maturing within 1 Year | 8.33 | 6.25 | 15.00 | 13.50 |
| Long Term Debt Maturing in Year 2 | 8.33 | 6.25 | 0.00 | 15.00 |
| Long Term Debt Maturing in Year 3 | 8.33 | 6.25 | 8.33 | 0.00 |
| Long Term Debt Maturing in Year 4 | 15.00 | 6.25 | 8.33 | 0.00 |
| Long Term Debt Maturing in Year 5 | 20.00 | 15.00 | 8.33 | 0.00 |
| Long Term Debt Maturing in 2-3 Years | 16.67 | 12.50 | 8.33 | 15.00 |
| Long Term Debt Maturing in 4-5 Years | 35.00 | 21.25 | 16.67 | 0.00 |
| Long Term Debt Maturing in Year 6 & Beyond | 2,766.00 | 2,646.00 | 2,561.55 | 2,336.55 |
| Interest Costs | -8.00 | -10.00 | -12.08 | -14.30 |
| Total Capital Leases | 36.00 | 39.00 | 42.50 | 45.73 |
| Capital Lease Payments Due in Year 1 | 5.00 | 5.00 | 5.46 | 5.46 |
| Capital Lease Payments Due in Year 2 | 6.00 | 5.00 | 5.45 | 5.46 |
| Capital Lease Payments Due in Year 3 | 6.00 | 5.00 | 5.46 | 5.45 |
| Capital Lease Payments Due in Year 4 | 6.00 | 6.00 | 5.46 | 5.46 |
| Capital Lease Payments Due in Year 5 | 5.00 | 6.00 | 5.46 | 5.46 |
| Capital Lease Payments Due in 2-3 Years | 12.00 | 10.00 | 10.91 | 10.91 |
| Capital Lease Payments Due in 4-5 Years | 11.00 | 12.00 | 10.91 | 10.91 |
| Capital Lease Payments Due in Year 6 & Beyond | 16.00 | 22.00 | 27.29 | 32.75 |
| Total Operating Leases | 65.00 | 66.00 | 68.05 | 68.63 |
| Operating Lease Payments Due in Year 1 | 5.00 | 5.00 | 4.99 | 4.85 |
| Operating Lease Payments Due in Year 2 | 5.00 | 5.00 | 4.98 | 4.88 |
| Operating Lease Payments Due in Year 3 | 5.00 | 5.00 | 4.98 | 4.88 |
| Operating Lease Payments Due in Year 4 | 5.00 | 5.00 | 5.01 | 4.88 |
| Operating Lease Payments Due in Year 5 | 5.00 | 5.00 | 4.99 | 4.87 |
| Operating Lease Payments Due in 2-3 Years | 10.00 | 10.00 | 9.97 | 9.76 |
| Operating Lease Payments Due in 4-5 Years | 10.00 | 10.00 | 10.00 | 9.75 |
| Standardized Operating Lease Payments Due in Year 6 and Beyond | 40.00 | 41.00 | 43.10 | 44.27 |
| Pension Obligation - Domestic | 622.00 | 600.00 | 585.25 | 557.71 |
| Post-Retirement Obligation | 116.00 | 117.00 | 122.38 | 115.64 |
| Plan Assets - Domestic | 656.00 | 608.00 | 589.98 | 540.70 |
| Plan Assets - Post-Retirement | 75.00 | 67.00 | 58.13 | 49.47 |
| Funded Status - Domestic | 34.00 | 8.00 | 4.74 | -17.01 |
| Funded Status - Post-Retirement | -41.00 | -50.00 | -64.26 | -66.16 |
| Accumulated Obligation - Domestic | 535.00 | 522.00 | 514.30 | 495.65 |
| Accumulated Obligation - Post-Retirement | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Funded Status | -7.00 | -42.00 | -59.52 | -83.17 |
| Discount Rate - Domestic | 5.96 | 6.13 | 5.86 | 6.10 |
| Discount Rate - Post-Retirement | 6.11 | 6.09 | 5.83 | 6.10 |
| Expected Rate of Return - Domestic | 7.40 | 7.80 | 8.30 | 5.80 |
| Expected Rate of Return - Post-Retirement | 6.60 | 6.70 | 7.20 | 4.70 |
| Compensation Rate - Domestic | 5.07 | 5.19 | 4.87 | 4.69 |
| Prepaid Benefits - Domestic | 9.00 | 9.00 | 7.79 | 7.54 |
| Accrued Liabilities - Domestic | -53.00 | -27.00 | -28.26 | -30.39 |
| Accrued Liabilities - Post-Retirement | -41.00 | -50.00 | -64.26 | -66.16 |
| Other Assets, Net - Domestic | 61.00 | 35.00 | 33.00 | 13.38 |
| Other Assets, Net - Post-Retirement | 0.00 | 0.00 | 0.00 | 0.00 |
| Net Assets Recognized on Balance Sheet | -24.00 | -33.00 | -51.73 | -75.63 |
| Equity % - Domestic | 55.00 | 55.00 | 55.00 | 55.00 |
| Equity % - Post-Retirement | 0.00 | 0.00 | 0.00 | 0.00 |
| Debt Securities % - Domestic | 40.00 | 40.00 | 40.00 | 40.00 |
| Debt Securities % - Post-Retirement | 0.00 | 0.00 | 0.00 | 0.00 |
| Real Estate % - Domestic | 5.00 | 5.00 | 5.00 | 5.00 |
| Other Investments % - Domestic | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Plan Obligations | 738.00 | 717.00 | 707.63 | 673.34 |
| Total Plan Assets | 731.00 | 675.00 | 648.11 | 590.18 |
Source: LSEG
In millions of USD (except for per share items)