v3.26.1
Segment Information (Tables)
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
Information about each segment, including significant expenses and net income of each segment, for the three and six months ended June 30, 2026 and 2025 are as follows:
Electric Segment
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)2026202520262025
Operating Revenue$121,320 $128,731 $287,188 $278,451 
Production Fuel and Purchased Power23,883 31,789 71,667 76,980 
Operating and Maintenance Expenses54,692 46,804 104,948 95,685 
Depreciation and Amortization24,223 22,278 47,669 44,655 
Property Taxes5,121 4,227 9,583 8,455 
Interest Expense11,990 10,822 23,726 21,479 
Income Tax Benefit
(13,104)(4,469)(18,286)(8,477)
Other Segment Items(1)
(4,183)(1,915)(6,067)(4,229)
Net Income$18,698 $19,195 $53,948 $43,903 
(1) Other segment items include nonservice components of postretirement benefits, allowance for funds used during construction and other expenses (income).
Manufacturing Segment
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)2026202520262025
Operating Revenue$88,461 $78,726 $178,021 $160,412 
Cost of Goods Sold69,419 63,311 140,621 131,827 
Selling, General, and Administrative Expenses12,544 10,350 24,772 21,093 
Interest Expense591 627 1,190 1,249 
Income Tax Expense1,336 958 2,585 1,230 
Other Segment Items— (1)(1)— 
Net Income$4,571 $3,481 $8,854 $5,013 
Plastics Segment
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)2026202520262025
Operating Revenue$124,602 $125,586 $216,200 $231,533 
Cost of Goods Sold52,661 46,929 92,678 87,016 
Selling, General, and Administrative Expenses7,874 6,623 14,752 13,608 
Legal Settlement Expenses103,500 — 103,500 — 
Interest Expense325 246 472 392 
Income Tax (Benefit) Expense(9,678)18,684 1,941 33,977 
Other Segment Items1 — (2)(3)
Net Income (Loss)$(30,081)$53,104 $2,859 $96,543 
Capital Expenditures and Identifiable Assets
The following provides capital expenditures for each reportable segment and our corporate cost center for the six months ended June 30, 2026 and 2025:
Six Months Ended June 30,
(in thousands)20262025
Capital Expenditures
Electric$310,660 $114,038 
Manufacturing7,913 4,674 
Plastics6,136 4,915 
Corporate46 612 
Total Capital Expenditures$324,755 $124,239 
The following provides the identifiable assets by segment and corporate assets as of June 30, 2026 and December 31, 2025:
(in thousands)June 30, 2026December 31, 2025
Identifiable Assets
Electric$3,298,885 $3,006,695 
Manufacturing259,342 243,737 
Plastics306,994 185,936 
Corporate428,384 527,911 
Total Identifiable Assets$4,293,605 $3,964,279 
Included below are a reconciliation of certain segment information and our unallocated corporate costs to consolidated amounts for the three and six months ended June 30, 2026 and 2025:
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)2026202520262025
Depreciation and Amortization
Electric$24,223 $22,278 $47,669 $44,655 
Manufacturing4,762 5,523 9,549 10,946 
Plastics1,750 1,588 3,422 3,135 
Corporate76 58 149 86 
Total Depreciation and Amortization$30,811 $29,447 $60,789 $58,822 
Interest Expense
Total Interest Expense of Reportable Segments$12,906 $11,695 $25,388 $23,120 
Corporate Interest Expense (Income)(16)25 138 153 
Total Interest Expense$12,890 $11,720 $25,526 $23,273 
Income Tax Expense (Benefit)
Total Income Tax Expense (Benefit) of Reportable Segments$(21,446)$15,173 $(13,760)$26,730 
Corporate Income Tax Expense (Benefit)289 (1,521)(2,520)(2,993)
Total Income Tax Expense (Benefit)$(21,157)$13,652 $(16,280)$23,737 
Net Income (Loss)
Total Net Income (Loss) of Reportable Segments$(6,812)$75,780 $65,661 $145,459 
Corporate Net Income (Loss)(795)1,948 (658)368 
Total Net Income (Loss)$(7,607)$77,728 $65,003 $145,827