Business Segment Information (Tables)

6 Months Ended

Jun. 30, 2025

Segment Reporting Information, Additional Information [Abstract]

Segment information included in Consolidated Statements of Income

Segment information was as follows:


	Consolidating Income Statement
Three Months Ended June 30, 2025	Electric Utilities		Gas Utilities		Corporate and Other			Total
	(in millions)
Revenue -
External Customers	$	217.5	$	221.5	$	—		$	439.0
Inter-segment		2.4		1.5		(3.9	)		—
Total revenue		219.9		223.0		(3.9	)		439.0

Fuel, purchased power and cost of natural gas sold		55.3		68.9		(0.2	)		124.0
Operations and maintenance (a) -
Direct		36.1		38.9		(1.7	)		73.3
Allocated		33.1		41.2		—			74.3
Depreciation and amortization		37.5		32.3		—			69.8
Taxes other than income taxes		8.9		6.2		—			15.1
Operating income (loss)	$	49.0	$	35.5	$	(2.0	)	$	82.5

Interest expense, net									(48.9	)
Other income (expense), net									(0.4	)
Income tax (expense)									(4.4	)
Net income									28.8
Net income attributable to non-controlling interest									(1.3	)
Net income available for common stock								$	27.5


	Consolidating Income Statement
Three Months Ended June 30, 2024	Electric Utilities		Gas Utilities		Corporate and Other			Total
	(in millions)
Revenue -
External Customers	$	202.1	$	200.5	$	—		$	402.6
Inter-segment		3.0		1.5		(4.5	)		—
Total revenue		205.1		202.0		(4.5	)		402.6

Fuel, purchased power and cost of natural gas sold		45.9		61.3		(0.1	)		107.1
Operations and maintenance (a) -
Direct		37.4		38.2		(5.7	)		69.9
Allocated		30.7		41.1		—			71.8
Depreciation and amortization		35.5		31.1		—			66.6
Taxes other than income taxes		9.3		7.3		—			16.6
Operating income	$	46.3	$	23.0	$	1.3		$	70.6

Interest expense, net									(42.6	)
Other income (expense), net									0.4
Income tax (expense)									(3.7	)
Net income									24.7
Net income attributable to non-controlling interest									(1.9	)
Net income available for common stock								$	22.8


	Consolidating Income Statement
Six Months Ended June 30, 2025	Electric Utilities		Gas Utilities		Corporate and Other			Total
	(in millions)
Revenue -
External Customers	$	451.8	$	792.4	$	—		$	1,244.2
Inter-segment		4.8		3.0		(7.8	)		—
Total revenue		456.6		795.4		(7.8	)		1,244.2

Fuel, purchased power and cost of natural gas sold		122.5		361.4		(0.1	)		483.8
Operations and maintenance (a) -
Direct		71.8		83.0		(4.8	)		150.0
Allocated		66.2		85.1		—			151.3
Depreciation and amortization		74.6		64.4		—			139.0
Taxes other than income taxes		18.2		14.5		—			32.7
Operating income (loss)	$	103.3	$	187.0	$	(2.9	)	$	287.4

Interest expense, net									(100.3	)
Other income (expense), net									0.6
Income tax (expense)									(22.5	)
Net income									165.2
Net income attributable to non-controlling interest									(3.5	)
Net income available for common stock								$	161.7


	Consolidating Income Statement
Six Months Ended June 30, 2024	Electric Utilities		Gas Utilities		Corporate and Other			Total
	(in millions)
Revenue -
External Customers	$	421.4	$	707.6	$	—		$	1,129.0
Inter-segment		5.9		3.0		(8.9	)		—
Total revenue		427.3		710.6		(8.9	)		1,129.0

Fuel, purchased power and cost of natural gas sold		100.8		323.2		(0.3	)		423.7
Operations and maintenance (a) -
Direct		64.8		76.3		(8.2	)		132.9
Allocated		60.7		81.6		—			142.3
Depreciation and amortization		70.8		61.5		0.2			132.5
Taxes other than income taxes		19.3		14.3		—			33.6
Operating income (loss)	$	110.9	$	153.7	$	(0.6	)	$	264.0

Interest expense, net									(86.7	)
Other income (expense), net									(0.5	)
Income tax (expense)									(20.6	)
Net income									156.2
Net income attributable to non-controlling interest									(5.6	)
Net income available for common stock								$	150.6

(a)

Direct and Allocated Operations and maintenance expenses for our operating segments are regularly provided to the CODM. Direct Operations and maintenance expense represents the costs incurred directly by our operating segments. Allocated Operations and maintenance expense represent costs incurred by BHSC for various direct and indirect support services provided to our operating segments. Pursuant to the BHSC Cost Allocation Manual, indirect cost allocations are determined in accordance with the Public Utility Holding Company Act of 2005.

Segment information included in Consolidated Balance Sheets


Capital Expenditures (a) for the six months ended June 30,	2025		2024
	(in millions)
Electric Utilities	$	211.8	$	185.6
Gas Utilities		153.8		190.4
Corporate and Other		4.3		4.8
Total capital expenditures	$	369.9	$	380.8

(a)

Includes accruals for property, plant, and equipment as disclosed in supplemental cash flow information in the Consolidated Statements of Cash Flows in the Consolidated Financial Statements. Capital expenditures are presented net of CIACs in the Consolidated Statements of Cash Flows.