v3.25.4
Property, Plant And Equipment
 12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Property, Plant And Equipment
Our property, plant and equipment on the Consolidated Balance Sheets are classified as follows: 
At December 31, (in millions)
20252024
Property, Plant and Equipment
Gas distribution utility
$21,509.4 $20,007.2 
Electric utility
11,420.7 8,666.8 
Corporate236.4 248.1 
Construction work in process
1,700.7 2,084.7 
JV renewable generation assets(1)
1,429.3 1,434.2 
Non-utility and other
1,762.3 1,711.9 
Total Property, Plant and Equipment$38,058.8 $34,152.9 
Accumulated Depreciation and Amortization
Gas distribution utility
$(4,427.3)$(4,166.8)
Electric utility
(2,987.0)(2,707.8)
Corporate(156.1)(163.4)
JV renewable generation assets(1)
(156.3)(110.4)
Non-utility and other
(1,643.9)(1,550.6)
Total Accumulated Depreciation and Amortization$(9,370.6)$(8,699.0)
Net Property, Plant and Equipment$28,688.2 $25,453.9 
(1)These JV renewable generation assets owned and operated by JVs between NIPSCO and unrelated tax equity partners represent Non-Utility Property, are depreciated straight-line over 30 years and are part of our NIPSCO Operations segment. Refer to Note 4, "Noncontrolling Interests," for additional information.

The weighted average depreciation provisions for utility plant, as a percentage of the original cost, for the periods ended December 31, 2025, 2024 and 2023 were as follows:
202520242023
NIPSCO Operations3.0 %3.0 %3.0 %
Columbia Operations
2.6 %2.6 %2.5 %

We recognized depreciation expense of $1,008.9 million, $820.4 million and $756.9 million for the years ended 2025, 2024 and 2023, respectively. The 2025, 2024 and 2023, depreciation expense includes $62.4 million, $58.9 million, and $12.5 million related to the regulatory deferral of income associated with our JVs. See Note 1, "Nature of Operations and Summary of Significant Accounting Policies - S. Noncontrolling Interest," for additional details.
Amortization of on-premises Software Costs. We amortized $76.0 million, $85.2 million and $77.5 million in 2025, 2024 and 2023, respectively, related to software recorded as intangible assets. Our unamortized software balance was $390.3 million and $236.1 million at December 31, 2025 and 2024, respectively.
Amortization of Cloud Computing Costs. We amortized $27.0 million, $17.7 million and $12.6 million in 2025, 2024 and 2023, respectively, related to cloud computing costs to "Operation and maintenance" expense. Our unamortized cloud computing balance was $165.1 million and $77.5 million at December 31, 2025 and 2024, respectively.