v3.26.1
Segment Information
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Information
(11) Segment Information

Puget Energy operates one reportable segment, PSE, referred to as the regulated utility segment. PSE does not contain any additional reportable segments. The regulated utility operation generates, purchases and sells electricity and purchases, transports and sells natural gas. The service territory of PSE covers approximately 6,000 square miles in the state of Washington. Operations in addition to the regulated utility reportable segment, described as Other below, include the activities conducted at the holding company level and at Puget LNG, a non-regulated liquefied natural gas facility. The accounting policies of the regulated utility operating segment are the same as those described in Note 1, "Summary of Significant Accounting Policies" to the Combined Notes to Consolidated Financial Statements included in Part I, Item 1 of this report. The chief operating decision maker for both Puget Energy and PSE is the president and chief executive officer.
The chief operating decision maker assesses performance and decides resource allocation using net income for the regulated utility reportable segment. Net income is used by the chief operating decision maker to allocate resources, determine the Company’s availability to fund capital expenditures, and assess overall performance. The chief operating decision maker uses net income by comparing actual results to budget to assess Company performance.
The following tables present financial information about the regulated utility segment and reconciliation to Puget Energy consolidated financial statements:
Puget EnergyThree Months Ended June 30, 2026Six Months Ended June 30, 2026
(Dollars in Thousands)Regulated UtilityOtherTotalRegulated UtilityOtherTotal
Revenue$1,303,916 $8,888 $1,312,804 $3,144,434 $16,627 $3,161,061 
Depreciation and amortization210,996 1,669 212,665 421,684 3,344 425,028 
Income tax (benefit) expense16,515 (6,133)10,382 54,368 (18,257)36,111 
Non-utility expense and other4,192 4,097 8,289 9,818 11,224 21,042 
Interest expense92,257 42,346 134,603 183,141 74,729 257,870 
Net income79,745 (30,046)49,699 326,183 (53,652)272,531 
Total assets19,195,602 2,447,666 21,643,268 19,195,602 2,447,666 21,643,268 
Construction expenditures438,912 64 438,976 851,110 80 851,190 

Puget EnergyThree Months Ended June 30, 2025Six Months Ended June 30, 2025
(Dollars in Thousands)Regulated UtilityOtherTotalRegulated UtilityOtherTotal
Revenue$1,110,972 $9,493 $1,120,465 $2,703,992 $18,476 $2,722,468 
Depreciation and amortization207,852 1,684 209,536 416,545 3,367 419,912 
Income tax (benefit) expense4,410 (5,345)(935)32,225 (12,662)19,563 
Non-utility expense and other10,470 6,944 17,414 19,245 13,496 32,741 
Interest expense84,637 31,564 116,201 169,557 59,306 228,863 
Net income68,320 (24,146)44,174 254,334 (42,604)211,730 
Total assets17,310,818 1,925,503 19,236,321 17,310,818 1,925,503 19,236,321 
Construction expenditures376,611 132 376,743 730,046 279 730,325 

There are no significant segment expenses used by the chief operating decision maker to manage the segment’s operations that are not included in the Consolidated Statements of Income. PSE recognized revenue from Puget LNG for gas transportation services of $1.5 million and $2.0 million for the six months ended June 30, 2026 and 2025, respectively. These revenues are eliminated in Puget Energy's Consolidated Statements of Income. Puget LNG is charged tariff rates that are approved by the Washington Commission.