| Disaggregation of Revenue |
The tables below reconcile revenue disaggregation by customer class to segment revenue, as well as to revenues reflected on the Condensed Statements of Consolidated Income (unaudited): | | | | | | | | | | | | | | | | | | | | | | | | Three months ended June 30, 2026 (in millions) | Columbia Operations | | NIPSCO Operations | | Corporate and Other | | Total | | Gas Distribution | | | | | | | | | Residential | $ | 399.9 | | | $ | 102.2 | | | $ | — | | | $ | 502.1 | | | Commercial | 124.6 | | | 41.4 | | | — | | | 166.0 | | | Industrial | 40.3 | | | 21.0 | | | — | | | 61.3 | | | Off-system | 11.5 | | | — | | | — | | | 11.5 | | | | | | | | | | | | | | | | | | Miscellaneous(1) | 8.5 | | | 3.0 | | | — | | | 11.5 | | | Subtotal | $ | 584.8 | | | $ | 167.6 | | | $ | — | | | $ | 752.4 | | Electric Generation and Power Delivery | | | | | | | | | Residential | — | | | 183.1 | | | — | | | 183.1 | | | Commercial | — | | | 181.7 | | | — | | | 181.7 | | | Industrial | — | | | 159.2 | | | — | | | 159.2 | | | Wholesale | — | | | 9.9 | | | — | | | 9.9 | | | Public Authority | — | | | 3.7 | | | — | | | 3.7 | | Miscellaneous(1) | — | | | (0.5) | | | — | | | (0.5) | | | Subtotal | $ | — | | | $ | 537.1 | | | $ | — | | | $ | 537.1 | | Total Customer Revenues(2) | 584.8 | | | 704.7 | | | — | | | 1,289.5 | | Other Revenues(3) | 12.2 | | | 39.2 | | | 1.5 | | | 52.9 | | | Total Operating Revenues | $ | 597.0 | | | $ | 743.9 | | | $ | 1.5 | | | $ | 1,342.4 | | (1)Amounts included in Columbia Operations primarily relate to earnings share mechanisms, late fees, and wholesale revenues. Amounts included in NIPSCO Operations primarily relate to late fees, property rentals, transmission revenue, and offsetting regulatory program deferrals. (2)Customer revenue amounts exclude intersegment revenues. See Note 17, "Business Segment Information," for discussion of intersegment revenues. (3)Amounts included in Columbia Operations primarily relate to alternative revenue programs including weather normalization adjustment mechanisms. Amounts included in NIPSCO Operations primarily relate to alternative revenue programs including weather normalization adjustment mechanisms, MISO multi-value projects and revenue from FERC jurisdictional transmission assets. Amounts included in Corporate and Other primarily relate to products and services revenue. | | | | | | | | | Three months ended June 30, 2025 (in millions) | Columbia Operations | | NIPSCO Operations | | Corporate and Other | | Total | | Gas Distribution | | | | | | | | | Residential | $ | 397.0 | | | $ | 114.2 | | | $ | — | | | $ | 511.2 | | | Commercial | 126.2 | | | 45.5 | | | — | | | 171.7 | | | Industrial | 37.6 | | | 22.6 | | | — | | | 60.2 | | | Off-system | 22.8 | | | — | | | — | | | 22.8 | | | | | | | | | | | | | | | | | | Miscellaneous(1) | 8.7 | | | 3.3 | | | — | | | 12.0 | | | Subtotal | $ | 592.3 | | | $ | 185.6 | | | $ | — | | | $ | 777.9 | | Electric Generation and Power Delivery | | | | | | | | | Residential | $ | — | | | $ | 163.9 | | | $ | — | | | $ | 163.9 | | | Commercial | — | | | 161.0 | | | — | | | 161.0 | | | Industrial | — | | | 133.5 | | | — | | | 133.5 | | | | | | | | | | | Wholesale | — | | | 11.9 | | | — | | | 11.9 | | | | | | | | | | Miscellaneous(1) | — | | | (1.7) | | | — | | | (1.7) | | | Subtotal | $ | — | | | $ | 468.6 | | | $ | — | | | $ | 468.6 | | Total Customer Revenues(2) | 592.3 | | | 654.2 | | | — | | | 1,246.5 | | Other Revenues(3) | 8.9 | | | 26.4 | | | 1.2 | | | 36.5 | | | Total Operating Revenues | $ | 601.2 | | | $ | 680.6 | | | $ | 1.2 | | | $ | 1,283.0 | | (1)Amounts included in Columbia Operations primarily relate to earnings share mechanisms and late fees. Amounts included in NIPSCO Operations primarily relate to late fees and property rentals. (2)Customer revenue amounts exclude intersegment revenues. See Note 17, "Business Segment Information," for discussion of intersegment revenues. (3)Amounts included in Columbia Operations primarily relate to alternative revenue programs including weather normalization adjustment mechanisms. Amounts included in NIPSCO Operations primarily relate to alternative revenue programs including weather normalization adjustment mechanisms, MISO multi-value projects and revenue from FERC jurisdictional transmission assets. Amounts included in Corporate and Other primarily relate to products and services revenue. |
| | | | | | | | | | | | | | | | | | | | | | | | Six months ended June 30, 2026 (in millions) | Columbia Operations | | NIPSCO Operations | | Corporate and Other | | Total | | Gas Distribution | | | | | | | | | Residential | $ | 1,309.1 | | | $ | 420.8 | | | $ | — | | | $ | 1,729.9 | | | Commercial | 455.6 | | | 157.0 | | | — | | | 612.6 | | | Industrial | 97.7 | | | 55.1 | | | — | | | 152.8 | | | Off-system | 28.3 | | | — | | | — | | | 28.3 | | | | | | | | | | | | | | | | | | Miscellaneous(1) | 22.7 | | | 6.1 | | | — | | | 28.8 | | | Subtotal | $ | 1,913.4 | | | $ | 639.0 | | | $ | — | | | $ | 2,552.4 | | | Electric Generation and Power Delivery | | | | | | | | | Residential | $ | — | | | $ | 359.9 | | | $ | — | | | $ | 359.9 | | | Commercial | — | | | 353.8 | | | — | | | 353.8 | | | Industrial | — | | | 314.7 | | | — | | | 314.7 | | | Wholesale | — | | | 18.4 | | | — | | | 18.4 | | | Public Authority | — | | | 8.0 | | | — | | | 8.0 | | Miscellaneous(1) | — | | | 4.6 | | | — | | | 4.6 | | | Subtotal | $ | — | | | $ | 1,059.4 | | | $ | — | | | $ | 1,059.4 | | Total Customer Revenues(2) | 1,913.4 | | | 1,698.4 | | | — | | | 3,611.8 | | Other Revenues(3) | 6.8 | | | 84.0 | | | 2.9 | | | 93.7 | | | Total Operating Revenues | $ | 1,920.2 | | | $ | 1,782.4 | | | $ | 2.9 | | | $ | 3,705.5 | | (1)Amounts included in Columbia Operations are primarily relate to earnings share mechanisms, late fees, and wholesale revenues. Amounts included in NIPSCO Operations primarily relate to late fees, property rentals, transmission revenue, and offsetting regulatory program deferrals. (2)Customer revenue amounts exclude intersegment revenues. See Note 17, "Business Segment Information," for discussion of intersegment revenues. (3)Amounts included in Columbia Operations primarily relate to alternative revenue programs including weather normalization adjustment mechanisms. Amounts included in NIPSCO Operations primarily relate to alternative revenue programs including weather adjustment mechanisms, MISO multi-value projects and revenue from FERC jurisdictional transmission assets. Amounts included in Corporate and Other primarily relate to products and services revenue. | | | | | | | | | Six months ended June 30, 2025 (in millions) | Columbia Operations | | NIPSCO Operations | | Corporate and Other | | Total | | Gas Distribution | | | | | | | | | Residential | $ | 1,248.2 | | | $ | 405.6 | | | $ | — | | | $ | 1,653.8 | | | Commercial | 432.7 | | | 148.6 | | | — | | | 581.3 | | | Industrial | 85.5 | | | 54.0 | | | — | | | 139.5 | | | Off-system | 45.1 | | | — | | | — | | | 45.1 | | | | | | | | | | | | | | | | | | Miscellaneous(1) | 20.7 | | | 8.0 | | | — | | | 28.7 | | | Subtotal | $ | 1,832.2 | | | $ | 616.2 | | | $ | — | | | $ | 2,448.4 | | | Electric Generation and Power Delivery | | | | | | | | | Residential | $ | — | | | $ | 331.8 | | | $ | — | | | $ | 331.8 | | | Commercial | — | | | 321.1 | | | — | | | 321.1 | | | Industrial | — | | | 276.1 | | | — | | | 276.1 | | | | | | | | | | | Wholesale | — | | | 19.5 | | | — | | | 19.5 | | | | | | | | | | Miscellaneous(1) | — | | | (0.9) | | | — | | | (0.9) | | | Subtotal | $ | — | | | $ | 947.6 | | | $ | — | | | $ | 947.6 | | Total Customer Revenues(2) | 1,832.2 | | | 1,563.8 | | | — | | | 3,396.0 | | Other Revenues(3) | 9.6 | | | 58.2 | | | 2.4 | | | 70.2 | | | Total Operating Revenues | $ | 1,841.8 | | | $ | 1,622.0 | | | $ | 2.4 | | | $ | 3,466.2 | | (1)Amounts included in Columbia Operations are primarily relate to earnings share mechanisms and late fees. Amounts included in NIPSCO Operations, primarily relate to revenue refunds, public repairs and property rentals. (2)Customer revenue amounts exclude intersegment revenues. See Note 17, "Business Segment Information," for discussion of intersegment revenues. (3)Amounts included in Columbia Operations primarily relate to weather normalization adjustment mechanisms. Amounts included in NIPSCO Operations primarily relate to MISO multi-value projects and revenue from FERC jurisdictional transmission assets. Amounts included in Corporate and Other primarily relate to products and services revenue. |
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| Customer Accounts Receivable |
The balances of customer receivables as of June 30, 2026 and December 31, 2025 are presented in the table below. Contract liability balances were $95.0 million and zero as of June 30, 2026 and December 31, 2025, respectively. The increase was primarily attributable to consideration received in advance under a customer arrangement. Additionally, we have not incurred any significant costs to obtain or fulfill contracts. | | | | | | | | | | | | | | | (in millions) | Customer Accounts Receivable, Billed (less reserve) | | Customer Accounts Receivable, Unbilled (less reserve) | | | | Balance as of December 31, 2025 | $ | 698.8 | | | $ | 465.2 | | | | | Balance as of June 30, 2026 | $ | 694.5 | | | $ | 118.0 | | | |
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| Accounts Receivable, Allowance for Credit Loss |
of our allowance for credit losses as of June 30, 2026 and December 31, 2025 are presented in the table below: | | | | | | | | | | | | | | | | | | | | | |
(in millions) | Columbia Operations | | NIPSCO Operations | | | | | | Total | | Balance as of December 31, 2025 | $ | 15.6 | | | $ | 25.0 | | | | | | | $ | 40.6 | | | Current period provisions | 24.4 | | | 10.2 | | | | | | | 34.6 | | | Write-offs charged against allowance | (30.2) | | | (10.2) | | | | | | | (40.4) | | | Recoveries of amounts previously written off | 4.7 | | | 0.7 | | | | | | | 5.4 | | | Balance as of June 30, 2026 | $ | 14.5 | | | $ | 25.7 | | | | | | | $ | 40.2 | |
| | | | | | | | | | | | | | | | | | | | | | (in millions) | Columbia Operations | | NIPSCO Operations | | | | | | Total | | Balance as of December 31, 2024 | $ | 9.8 | | | $ | 13.9 | | | | | | | $ | 23.7 | | | Current period provisions | 42.3 | | | 25.0 | | | | | | | 67.3 | | | Write-offs charged against allowance | (50.8) | | | (15.0) | | | | | | | (65.8) | | | Recoveries of amounts previously written off | 14.3 | | | 1.1 | | | | | | | 15.4 | | | Balance as of December 31, 2025 | $ | 15.6 | | | $ | 25.0 | | | | | | | $ | 40.6 | |
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