v3.26.1
Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Jun. 30, 2025
Current assets:      
Cash and cash equivalents $ 24,234 $ 36,673 $ 102,579
Accounts receivable 83,150 121,875 78,865
Accrued unbilled revenue 26,484 97,238 27,943
Allowance for uncollectible accounts (3,855) (4,068) (3,210)
Regulatory assets 168,092 143,745 103,914
Derivative instruments 4,338 3,922 7,210
Inventories 142,887 127,697 113,720
Other current assets 53,902 75,850 35,095
Total current assets 499,232 602,932 466,116
Non-current assets:      
Property, plant, and equipment 5,844,802 5,640,435 5,415,697
Less: Accumulated depreciation 1,318,811 1,288,422 1,269,274
Total property, plant, and equipment, net 4,525,991 4,352,013 4,146,423
Regulatory assets 640,656 424,194 372,668
Derivative instruments 3,430 366 4,077
Other investments 68,998 80,676 82,223
Operating lease right of use asset, net 67,950 68,224 69,555
Assets under sales-type leases 119,425 121,470 123,588
Goodwill 371,614 370,815 370,889
Other non-current assets 144,486 146,351 151,024
Total non-current assets 5,942,550 5,564,109 5,320,447
Total assets 6,441,782 6,167,041 5,786,563
Current liabilities:      
Short-term debt 121,289 171,989 157,396
Current maturities of long-term debt 125,685 160,627 141,541
Accounts payable 135,525 175,566 116,819
Taxes accrued 13,031 18,123 11,530
Interest accrued 27,326 26,121 25,279
Regulatory liabilities 116,034 137,974 130,944
Derivative instruments 36,508 63,631 25,977
Operating lease liabilities 3,424 3,228 2,486
Other current liabilities 68,265 79,186 71,895
Total current liabilities 647,087 836,445 683,867
Long-term debt 2,376,685 2,272,202 2,086,650
Deferred credits and other non-current liabilities:      
Deferred tax liabilities 470,623 437,467 426,827
Regulatory liabilities 779,458 758,407 737,194
Pension and other postretirement benefit liabilities 105,106 112,139 125,019
Derivative instruments 17,541 14,039 7,908
Operating lease liabilities 74,782 74,986 76,749
Other non-current liabilities 411,205 186,280 183,111
Total deferred credits and other non-current liabilities 1,858,715 1,583,318 1,556,808
Commitments and contingencies (Note 16)
Equity:      
Common stock - no par value; authorized 100,000,000 shares; issued and outstanding 42,093,292, 40,909,610, and 41,563,577 at June 30, 2026 and 2025, and December 31, 2025, respectively 1,071,786 1,044,000 1,017,403
Retained earnings 492,032 435,823 448,517
Accumulated other comprehensive loss (4,523) (4,747) (6,682)
Total equity 1,559,295 1,475,076 1,459,238
Total liabilities and equity 6,441,782 6,167,041 5,786,563
NW Natural      
Current assets:      
Cash and cash equivalents 14,979 29,347 82,867
Accounts receivable 64,691 102,165 62,557
Accrued unbilled revenue 20,808 86,600 21,609
Receivables from affiliates 1,126 997 1,645
Allowance for uncollectible accounts (2,474) (3,048) (2,574)
Regulatory assets 167,442 143,135 103,190
Derivative instruments 4,338 3,922 7,182
Inventories 133,952 119,319 105,663
Other current assets 40,657 61,024 25,109
Total current assets 445,519 543,461 407,248
Non-current assets:      
Property, plant, and equipment 5,130,446 5,000,329 4,860,664
Less: Accumulated depreciation 1,269,895 1,256,289 1,236,148
Total property, plant, and equipment, net 3,860,551 3,744,040 3,624,516
Regulatory assets 633,188 419,847 370,536
Derivative instruments 3,430 366 4,077
Other investments 48,296 61,049 63,024
Operating lease right of use asset, net 64,248 65,650 66,965
Assets under sales-type leases 119,425 121,470 123,587
Other non-current assets 91,607 93,235 97,728
Total non-current assets 4,820,745 4,505,657 4,350,433
Total assets 5,266,264 5,049,118 4,757,681
Current liabilities:      
Short-term debt 0 9,990 0
Current maturities of long-term debt 74,972 54,948 29,997
Accounts payable 101,936 138,931 90,226
Payables to affiliates 2,853 2,354 8,096
Taxes accrued 9,948 15,682 9,836
Interest accrued 16,191 15,399 15,109
Regulatory liabilities 115,871 137,908 130,772
Derivative instruments 36,508 63,578 25,977
Operating lease liabilities 2,494 2,515 1,731
Other current liabilities 65,646 75,667 68,353
Total current liabilities 426,419 516,972 380,097
Long-term debt 1,460,280 1,479,942 1,335,736
Deferred credits and other non-current liabilities:      
Deferred tax liabilities 456,049 426,093 411,710
Regulatory liabilities 769,041 748,846 736,251
Pension and other postretirement benefit liabilities 105,106 112,139 125,019
Derivative instruments 17,541 14,039 7,908
Operating lease liabilities 71,940 73,097 74,882
Other non-current liabilities 393,808 169,746 168,876
Total deferred credits and other non-current liabilities 1,813,485 1,543,960 1,524,646
Commitments and contingencies (Note 16)
Equity:      
Common stock - no par value; authorized 100,000,000 shares; issued and outstanding 42,093,292, 40,909,610, and 41,563,577 at June 30, 2026 and 2025, and December 31, 2025, respectively 854,903 854,903 854,903
Retained earnings 715,700 658,046 669,002
Accumulated other comprehensive loss (4,523) (4,705) (6,703)
Total equity 1,566,080 1,508,244 1,517,202
Total liabilities and equity $ 5,266,264 $ 5,049,118 $ 4,757,681