v3.26.1
Segment Information
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Information
Note 15: Segment Information
The Company’s operating segments are comprised of its businesses which generate revenue, incur expense and have separate financial information which is regularly used by the chief operating decision maker to make operating decisions, assess performance and allocate resources. The Company operates its businesses primarily through one reportable segment, the Regulated Businesses segment. The Regulated Businesses segment also includes inter-segment revenues, costs and interest which are eliminated to reconcile to the Consolidated Statements of Operations.
The Company also operates other businesses, primarily MSG, that do not meet the criteria of a reportable segment in accordance with GAAP and are collectively presented throughout this Form 10-Q within “Other,” which is consistent with how management assesses the results of these businesses. Other also includes corporate costs that are not allocated to the Company’s Regulated Businesses, interest income related to the secured seller promissory note from the sale of HOS, income from assets not associated with the Regulated Businesses, eliminations of inter-segment transactions and fair value adjustments related to acquisitions that have not been allocated to the Regulated Businesses segment. The adjustments related to the acquisitions are reported in Other as they are excluded from segment performance measures evaluated by management.
The Company’s chief operating decision maker is the President and Chief Executive Officer. The chief operating decision maker uses segment net income or loss to evaluate profit generated from segment assets when making decisions about allocating resources. The chief operating decision maker also uses segment net income to monitor budget versus actual results to assess the performance of the segment.
Presented in the tables below is summarized segment information:
 As of or for the Three Months Ended June 30, 2026
 Regulated BusinessesOtherConsolidated
Operating revenues$1,268 $87 $1,355 
Less:
Operation and maintenance (a)409 72 481 
Other segment items (b)70 (5)65 
Depreciation and amortization238 2 240 
Interest expense127 40 167 
Interest income(3)— (3)
Provision for (benefit from) income taxes96 (6)90 
Net income (loss) attributable to common shareholders$331 $(16)$315 
Total assets$34,203 $2,250 $36,453 
Cash paid for capital expenditures$852 $8 $860 
(a)Significant segment expense.
(b)Other segment items included in segment net income includes General taxes, Non-operating benefit costs, net, and Other income (expense), net, primarily Allowance for other funds used during construction.
 As of or for the Three Months Ended June 30, 2025
 Regulated BusinessesOtherConsolidated
Operating revenues$1,178 $98 $1,276 
Less:
Operation and maintenance (a)406 74 480 
Other segment items (b)68 2 70 
Depreciation and amortization217 4 221 
Interest expense116 35 151 
Interest income(1)(21)(22)
Provision for income taxes84 3 87 
Net income attributable to common shareholders$288 $1 $289 
Total assets$31,005 $2,908 $33,913 
Cash paid for capital expenditures$733 $— $733 
(a)Significant segment expense.
(b)Other segment items included in segment net income includes General taxes, Non-operating benefit costs, net, and Other income (expense), net, primarily Allowance for other funds used during construction.
 As of or for the Six Months Ended June 30, 2026
 Regulated BusinessesOtherConsolidated
Operating revenues$2,379 $183 $2,562 
Less:
Operation and maintenance (a)826 148 974 
Other segment items (b)136 (4)132 
Depreciation and amortization472 5 477 
Interest expense253 77 330 
Interest income(4)(11)(15)
Provision for (benefit from) income taxes157 (4)153 
Net income (loss) attributable to common shareholders$539 $(28)$511 
Total assets$34,203 $2,250 $36,453 
Cash paid for capital expenditures$1,509 $10 $1,519 
(a)Significant segment expense.
(b)Other segment items included in segment net income includes General taxes, Non-operating benefit costs, net, and Other income (expense), net, primarily Allowance for other funds used during construction.
As of or for the Six Months Ended June 30, 2025
 Regulated BusinessesOtherConsolidated
Operating revenues$2,227 $191 $2,418 
Less:
Operation and maintenance (a)801 147 948 
Other segment items (b)135 1 136 
Depreciation and amortization430 7 437 
Interest expense230 65 295 
Interest income(2)(42)(44)
Provision for income taxes144 8 152 
Net income attributable to common shareholders$489 $5 $494 
Total assets$31,005 $2,908 $33,913 
Cash paid for capital expenditures$1,278 $3 $1,281 
(a)Significant segment expense.
(b)Other segment items included in segment net income includes General taxes, Non-operating benefit costs, net, and Other income (expense), net, primarily Allowance for other funds used during construction.