v3.26.1
Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating activities:    
Net income $ 98,089 $ 85,416
Adjustments to reconcile net income to cash provided by operations:    
Depreciation 88,346 82,035
Amortization 12,199 12,136
Deferred income taxes 28,776 28,054
Qualified defined benefit pension plan expense 4,615 5,437
Contributions to qualified defined benefit pension plans (6,450) (5,510)
Deferred environmental expenditures, net (14,329) (11,720)
Environmental remediation expense 8,756 8,549
Asset optimization revenue sharing bill credits (23,156) (15,549)
Other 6,483 7,794
Changes in assets and liabilities:    
Receivables, net 118,552 121,551
Inventories (15,364) (4,382)
Income and other taxes 12,853 8,505
Accounts payable (19,663) 11,582
Deferred gas costs (58,483) (45,247)
Asset optimization revenue sharing 8,760 10,097
Decoupling mechanism (36,201) (14,793)
Cloud-based software (4,957) (3,819)
Regulatory accounts 18,606 1,612
Other, net (1,584) 22
Cash provided by operating activities 225,848 281,770
Investing activities:    
Capital expenditures (234,950) (222,664)
Acquisitions, net of cash acquired 0 (331,329)
Purchase of equity method investment (1,000) (1,000)
Other 974 (894)
Cash used by investing activities (234,976) (555,887)
Financing activities:    
Proceeds from common stock issued, net 22,182 24,384
Long-term debt issued 125,000 375,000
Long-term debt retired (55,292) (3,022)
Changes in other short-term debt, net (50,700) (17,692)
Cash dividend payments on common stock (39,866) (38,180)
Payment of financing fees (1,069) (4,385)
Shares withheld for tax purposes (1,988) (1,537)
Other (372) (1,769)
Cash (used by) provided by financing activities (2,105) 332,799
(Decrease) increase in cash, cash equivalents and restricted cash (11,233) 58,682
Cash, cash equivalents and restricted cash, beginning of period 41,077 47,982
Cash, cash equivalents and restricted cash, end of period 29,844 106,664
Supplemental disclosure of cash flow information:    
Interest paid, net of capitalization 63,504 52,557
Income taxes paid, net of refunds 3,300 8,079
NW Natural    
Operating activities:    
Net income 97,682 95,963
Adjustments to reconcile net income to cash provided by operations:    
Depreciation 79,036 72,600
Amortization 10,589 11,327
Deferred income taxes 25,478 25,772
Qualified defined benefit pension plan expense 4,615 5,437
Contributions to qualified defined benefit pension plans (6,450) (5,510)
Deferred environmental expenditures, net (14,329) (11,720)
Environmental remediation expense 8,756 8,549
Asset optimization revenue sharing bill credits (23,156) (15,549)
Other 5,791 5,797
Changes in assets and liabilities:    
Receivables, net 111,446 123,804
Inventories (14,807) (926)
Income and other taxes 12,455 13,977
Accounts payable (21,656) (2,512)
Deferred gas costs (58,483) (45,247)
Asset optimization revenue sharing 8,760 10,097
Decoupling mechanism (36,201) (14,793)
Cloud-based software (4,949) (3,819)
Regulatory accounts 19,327 1,638
Other, net 288 2,126
Cash provided by operating activities 204,192 277,011
Investing activities:    
Capital expenditures (166,603) (177,122)
Other 1,257 (947)
Cash used by investing activities (165,346) (178,069)
Financing activities:    
Cash contributions received from parent 0 135,000
Changes in other short-term debt, net (9,990) (136,510)
Cash dividend payments on common stock (40,028) (38,160)
Shares withheld for tax purposes (1,988) (1,537)
Other (2) (236)
Cash (used by) provided by financing activities (52,008) (41,443)
(Decrease) increase in cash, cash equivalents and restricted cash (13,162) 57,499
Cash, cash equivalents and restricted cash, beginning of period 33,726 29,428
Cash, cash equivalents and restricted cash, end of period 20,564 86,927
Supplemental disclosure of cash flow information:    
Interest paid, net of capitalization 32,488 28,718
Income taxes paid, net of refunds $ 8,600 $ 8,000