v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Utility plant:    
Utility plant $ 6,182,880 $ 5,909,242
Less accumulated depreciation and amortization (1,371,706) (1,329,652)
Net utility plant 4,811,174 4,579,590
Current assets:    
Cash and cash equivalents 43,445 51,820
Restricted cash 45,697 45,553
Receivables:    
Customers, net 72,315 56,322
Short-term regulatory assets 91,122 72,511
Other, net 48,327 49,004
Accrued and unbilled revenue, net 56,695 39,674
Materials and supplies 18,334 19,784
Taxes, prepaid expenses, and other assets 31,250 19,760
Total current assets 407,185 354,428
Other assets:    
Regulatory assets 334,709 339,865
Goodwill 37,063 37,063
Other 364,833 360,219
Total other assets 736,605 737,147
TOTAL ASSETS 5,954,964 5,671,165
Capitalization:    
Common stock, $0.01 par value; 136,000 shares authorized, 61,839 and 59,638 outstanding on June 30, 2026 and December 31, 2025, respectively 618 596
Additional paid-in capital 1,070,262 973,454
Retained earnings 749,745 729,276
Accumulated other comprehensive loss (13,152) (13,922)
Noncontrolling interest 2,619 2,571
Total equity 1,810,092 1,691,975
Long-term debt, net 1,471,948 1,471,968
Total capitalization 3,282,040 3,163,943
Current liabilities:    
Current maturities of long-term debt, net 590 2,270
Short-term borrowings 205,000 130,000
Accounts payable 201,432 175,729
Short-term regulatory liabilities 94,248 25,458
Accrued other taxes 3,744 6,048
Accrued interest 13,115 12,976
Other accrued liabilities 62,541 65,683
Total current liabilities 580,670 418,164
Deferred income taxes 466,636 450,946
Regulatory liabilities 903,905 929,814
Pension 95,191 94,226
Advances for construction 211,191 210,638
Contributions in aid of construction 305,106 297,016
Other long-term liabilities 110,225 106,418
Commitments and contingencies (Note 9)
TOTAL CAPITALIZATION AND LIABILITIES $ 5,954,964 $ 5,671,165