| Segment information included in Consolidated Statements of Income |
Segment information was as follows:
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Consolidating Income Statement |
|
Year Ended December 31, 2025 |
Electric Utilities |
|
Gas Utilities |
|
Total Reportable Segments |
|
Corporate
and Other |
|
Total |
|
|
(in millions) |
|
Revenue - |
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|
|
|
|
|
|
|
|
|
External Customers |
$ |
933.2 |
|
$ |
1,376.8 |
|
$ |
2,310.0 |
|
$ |
— |
|
$ |
2,310.0 |
|
Inter-segment |
|
9.6 |
|
|
6.0 |
|
|
15.6 |
|
|
(15.6 |
) |
|
— |
|
Total revenue |
|
942.8 |
|
|
1,382.8 |
|
|
2,325.6 |
|
|
(15.6 |
) |
|
2,310.0 |
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|
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|
Fuel, purchased power and cost of natural gas sold |
|
259.6 |
|
|
572.3 |
|
|
831.9 |
|
|
(0.4 |
) |
|
831.5 |
|
Operations and maintenance (a) - |
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Direct |
|
138.6 |
|
|
159.5 |
|
|
298.1 |
|
|
(9.4 |
) |
|
288.7 |
|
Allocated |
|
132.6 |
|
|
168.5 |
|
|
301.1 |
|
|
— |
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|
301.1 |
|
Depreciation, depletion and amortization |
|
152.4 |
|
|
131.4 |
|
|
283.8 |
|
|
— |
|
|
283.8 |
|
Taxes other than income taxes |
|
37.1 |
|
|
30.3 |
|
|
67.4 |
|
|
— |
|
|
67.4 |
|
Operating income (loss) |
$ |
222.5 |
|
$ |
320.8 |
|
$ |
543.3 |
|
$ |
(5.8 |
) |
$ |
537.5 |
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Interest expense, net |
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|
(200.1 |
) |
Other income (expense), net |
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|
6.1 |
|
Income tax (expense) |
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(43.7 |
) |
Net income |
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|
299.8 |
|
Net income attributable to non-controlling interest |
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|
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(8.2 |
) |
Net income available for common stock |
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$ |
291.6 |
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|
Consolidating Income Statement |
|
Year Ended December 31, 2024 |
Electric Utilities |
|
Gas Utilities |
|
Total Reportable Segments |
|
Corporate
and Other |
|
Total |
|
|
(in millions) |
|
Revenue - |
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External Customers |
$ |
864.4 |
|
$ |
1,263.3 |
|
$ |
2,127.7 |
|
$ |
— |
|
$ |
2,127.7 |
|
Inter-segment |
|
11.7 |
|
|
6.1 |
|
|
17.8 |
|
|
(17.8 |
) |
|
— |
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Total revenue |
|
876.1 |
|
|
1,269.4 |
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|
2,145.5 |
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|
(17.8 |
) |
|
2,127.7 |
|
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|
|
|
|
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|
Fuel, purchased power and cost of natural gas sold |
|
206.4 |
|
|
524.3 |
|
|
730.7 |
|
|
(0.4 |
) |
|
730.3 |
|
Operations and maintenance (a) - |
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Direct |
|
127.5 |
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|
155.4 |
|
|
282.9 |
|
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(16.3 |
) |
|
266.6 |
|
Allocated |
|
125.1 |
|
|
165.3 |
|
|
290.4 |
|
|
— |
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|
290.4 |
|
Depreciation, depletion and amortization |
|
145.3 |
|
|
124.7 |
|
|
270.0 |
|
|
0.1 |
|
|
270.1 |
|
Taxes other than income taxes |
|
38.8 |
|
|
28.4 |
|
|
67.2 |
|
|
— |
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|
67.2 |
|
Operating income (loss) |
$ |
233.0 |
|
$ |
271.3 |
|
$ |
504.3 |
|
$ |
(1.2 |
) |
$ |
503.1 |
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Interest expense, net |
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|
|
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|
(181.7 |
) |
Other income (expense), net |
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|
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|
|
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|
(1.4 |
) |
Income tax (expense) |
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|
|
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|
(36.3 |
) |
Net income |
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|
283.7 |
|
Net income attributable to non-controlling interest |
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|
|
|
|
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|
(10.6 |
) |
Net income available for common stock |
|
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|
|
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$ |
273.1 |
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|
Consolidating Income Statement |
|
Year Ended December 31, 2023 |
Electric Utilities |
|
Gas Utilities |
|
Total Reportable Segments |
|
Corporate
and Other |
|
Total |
|
|
(in millions) |
|
Revenue - |
|
|
|
|
|
|
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|
External Customers |
$ |
853.6 |
|
$ |
1,477.7 |
|
$ |
2,331.3 |
|
$ |
— |
|
$ |
2,331.3 |
|
Inter-segment |
|
11.4 |
|
|
6.5 |
|
|
17.9 |
|
|
(17.9 |
) |
|
— |
|
Total revenue |
|
865.0 |
|
|
1,484.2 |
|
|
2,349.2 |
|
|
(17.9 |
) |
|
2,331.3 |
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Fuel, purchased power and cost of natural gas sold |
|
200.1 |
|
|
783.2 |
|
|
983.3 |
|
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(0.4 |
) |
|
982.9 |
|
Operations and maintenance (a) - |
|
|
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|
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|
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|
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Direct |
|
112.2 |
|
|
162.2 |
|
|
274.4 |
|
|
(12.9 |
) |
|
261.5 |
|
Allocated |
|
124.0 |
|
|
166.5 |
|
|
290.5 |
|
|
— |
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|
290.5 |
|
Depreciation, depletion and amortization |
|
142.6 |
|
|
113.9 |
|
|
256.5 |
|
|
0.3 |
|
|
256.8 |
|
Taxes other than income taxes |
|
37.3 |
|
|
29.6 |
|
|
66.9 |
|
|
— |
|
|
66.9 |
|
Operating income (loss) |
$ |
248.8 |
|
$ |
228.8 |
|
$ |
477.6 |
|
$ |
(4.9 |
) |
$ |
472.7 |
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense, net |
|
|
|
|
|
|
|
|
|
(167.9 |
) |
Other income (expense), net |
|
|
|
|
|
|
|
|
|
(3.2 |
) |
Income tax (expense) |
|
|
|
|
|
|
|
|
|
(25.6 |
) |
Net income |
|
|
|
|
|
|
|
|
|
276.0 |
|
Net income attributable to non-controlling interest |
|
|
|
|
|
|
|
|
|
(13.8 |
) |
Net income available for common stock |
|
|
|
|
|
|
|
|
$ |
262.2 |
|
(a)Direct and Allocated Operations and maintenance expenses for our operating segments are regularly provided to the CODM. Direct expenses represents the costs incurred directly by our operating segments. Allocated expenses 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 PUHCA 2005.
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