Black Hills Corporation
(NYSE:BKH)

Black Hills Corporation, through its subsidiaries, operates as an electric and natural gas utility company in the United States. It operates through four segments: Electric Utilities, Gas Utilities, Power Generation, and Mining. The Electric Utilities segment generates, transmits, and distributes el...

Website: http://www.blackhillscorp.com

Founded: 1941

Full Time Employees: 2,944

Sector: Utilities

Industry: Utilities-Diversified

Utilities

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Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-03-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-03-31	2010-03-31	2009-09-30	2009-06-30	2008-12-31	2008-09-30	2008-03-31	2007-12-31

revenue	780,700,000	635,500,000	430,200,000	439,000,000	805,200,000	597,100,000	401,600,000	402,600,000	726,400,000	591,732,000	407,126,000	411,283,000	921,159,000	791,439,000	462,612,000	474,195,000	823,570,000	562,508,000	380,590,000	372,572,000	633,432,000	486,387,000	346,590,000	326,914,000	537,050,000	477,654,000	325,548,000	333,888,000	597,810,000	501,196,000	321,979,000	355,704,000	575,389,000	436,147,000	342,138,000	347,978,000	554,003,000	463,788,000	333,786,000	325,441,000	449,959,000	246,586,500	272,105,000	272,254,000	441,987,000	253,873,250	272,087,000	283,237,000	460,169,000
yoy	-3.04%	6.43%	7.12%	9.04%	10.85%	0.91%	-1.36%	-2.11%	-21.14%	-25.23%	-11.99%	-13.27%	11.85%	40.70%	21.55%	27.28%	30.02%	15.65%	9.81%	13.97%	17.95%	1.83%	6.46%	-2.09%	-10.16%	-4.70%	1.11%	-6.13%	3.90%	14.91%	-5.89%	2.22%	3.86%	-5.96%	2.50%	6.93%	23.12%	88.08%	22.67%	19.54%	1.80%	-2.87%	0.01%	-3.88%	-3.95%
qoq	22.85%	47.72%	-2.00%	-45.48%	34.85%	48.68%	-0.25%	-44.58%	22.76%	45.34%	-1.01%	-55.35%	16.39%	71.08%	-2.44%	-42.42%	46.41%	47.80%	2.15%	-41.18%	30.23%	40.33%	6.02%	-39.13%	12.43%	46.72%	-2.50%	-44.15%	19.28%	55.66%	-9.48%	-38.18%	31.93%	27.48%	-1.68%	-37.19%	19.45%	38.95%	2.56%	-27.67%	82.48%	-9.38%	-0.05%	-38.40%	74.10%	-6.69%	-3.94%	-38.45%
operating expenses:
fuel, purchased power and cost of natural gas sold	337,900,000	235,800,000	112,000,000	124,000,000	359,700,000			107,100,000	316,600,000	233,147,000	102,241,000	121,245,000	526,267,000	436,918,000	168,535,000	188,171,000	436,926,000	246,256,000	94,057,000	108,474,000	293,147,000	161,210,000	71,686,000	71,629,000	187,879,000	159,134,000	73,090,000	89,826,000	248,779,000	193,066,000	80,244,000	104,661,000	247,639,000	159,066,000	86,281,000	98,164,000	219,777,000	162,593,000	80,194,000	84,489,000	171,856,000	106,109,000	71,627,000	73,824,000	205,327,000	165,309,000	84,674,000	101,331,000	230,468,000
operations and maintenance	148,000,000	137,600,000	150,800,000	147,600,000	153,700,000	136,200,000	145,600,000	141,700,000	133,600,000	139,478,000	125,767,000	145,767,000	140,988,000	144,881,000	134,449,000	132,968,000	136,132,000	126,489,000	122,277,000	123,245,000	129,679,000	129,871,000	122,759,000	117,308,000	125,466,000	129,087,000	117,037,000	124,931,000	123,913,000	131,607,000	115,477,000	118,282,000	116,096,000	100,453,000	114,648,000	117,374,000	122,130,000	121,693,000	115,103,000	112,541,000	107,062,000	66,777,000	67,282,000	67,264,000	71,084,000	69,408,000	64,245,000	66,074,000	71,227,000	166,382,000	30,459,000	33,226,000	59,398,000	59,563,000	64,760,000	156,370,000	28,317,000	34,560,000	42,622,000	35,431,000	40,461,000	40,502,000	34,477,000	26,203,000
depreciation and amortization	74,800,000	73,300,000	71,500,000	69,800,000	69,200,000	68,300,000	69,300,000	66,600,000	65,900,000																																									4,920,000	6,594,000	6,503,000				4,508,000	6,064,000	6,021,000
taxes other than income taxes	18,100,000	17,400,000	17,200,000	15,100,000	17,600,000
total operating expenses	578,800,000	464,100,000	351,500,000	356,500,000	600,200,000	433,800,000	325,800,000	332,000,000	533,100,000	455,202,000	309,355,000	347,767,000	746,276,000	661,416,000	383,133,000	401,806,000	650,217,000	448,533,000	290,717,000	305,306,000	495,117,000	360,436,000	264,356,000	259,981,000	383,865,000	356,295,000	254,997,000	279,887,000	437,679,000	387,069,000	256,894,000	286,153,000	427,115,000	314,307,000	263,619,000	279,112,000	406,492,000	408,499,000	275,377,000	290,143,000	376,369,000	318,062,000	274,149,000	311,112,000	350,035,000	308,126,000	217,683,000	236,660,000	370,571,000	905,083,000	37,053,000	39,729,000	168,998,000	221,772,000	295,803,000	976,791,000	34,381,000	40,581,000	372,630,000
operating income	201,900,000	171,400,000	78,700,000	82,500,000	205,000,000	163,300,000	75,800,000	70,600,000	193,300,000	136,530,000	97,771,000	63,516,000	174,883,000	130,023,000	79,479,000	72,389,000	173,353,000	113,975,000	89,873,000	67,266,000	138,315,000	125,951,000	82,234,000	66,933,000	153,185,000	121,359,000	70,551,000	54,001,000	160,131,000	114,127,000	65,085,000	69,551,000	148,274,000	121,840,000	78,519,000	68,866,000	147,511,000	55,289,000	58,409,000	35,298,000	73,590,000	197,000	-2,044,000	-38,858,000	91,952,000	69,951,000	54,404,000	46,577,000	89,598,000	205,719,000	3,106,000	35,986,000	77,810,000	20,591,000	70,048,000	131,970,000	5,097,000	36,556,000	69,702,000	16,909,000	25,814,000	-37,871,000	42,688,000	36,564,000
yoy	-1.51%	4.96%	3.83%	16.86%	6.05%	19.61%	-22.47%	11.15%	10.53%	5.00%	23.01%	-12.26%	0.88%	14.08%	-11.57%	7.62%	25.33%	-9.51%	9.29%	0.50%	-9.71%	3.78%	16.56%	23.95%	-4.34%	6.34%	8.40%	-22.36%	8.00%	-6.33%	-17.11%	0.99%	0.52%	120.37%	34.43%	95.10%	100.45%	27965.48%	-2957.58%	-190.84%	-19.97%	-99.72%	-103.76%	-183.43%	2.63%	-66.00%	1651.58%	29.43%	15.15%	899.07%	-95.57%	-72.73%	1426.58%	-43.67%	0.50%	680.47%	-80.25%	-196.53%	63.28%	-53.76%
qoq	17.79%	117.79%	-4.61%	-59.76%	25.54%	115.44%	7.37%	-63.48%	41.58%	39.64%	53.93%	-63.68%	34.50%	63.59%	9.79%	-58.24%	52.10%	26.82%	33.61%	-51.37%	9.82%	53.16%	22.86%	-56.31%	26.22%	72.02%	30.65%	-66.28%	40.31%	75.35%	-6.42%	-53.09%	21.70%	55.17%	14.02%	-53.31%	166.80%	-5.34%	65.47%	-52.03%	37255.33%	-109.64%	-94.74%	-142.26%	31.45%	28.58%	16.80%	-48.02%	-56.45%	6523.28%	-91.37%	-53.75%	277.88%	-70.60%	-46.92%	2489.17%	-86.06%	-47.55%	312.22%	-34.50%	-168.16%	-188.72%	16.75%
operating margin %	25.86%	26.97%	18.29%	18.79%	25.46%	27.35%	18.87%	17.54%	26.61%	23.07%	24.01%	15.44%	18.99%	16.43%	17.18%	15.27%	21.05%	20.26%	23.61%	18.05%	21.84%	25.90%	23.73%	20.47%	28.52%	25.41%	21.67%	16.17%	26.79%	22.77%	20.21%	19.55%	25.77%	27.94%	22.95%	19.79%	26.63%	11.92%	17.50%	10.85%	16.35%	0.08%	-0.75%	-14.27%	20.80%	27.55%	20.00%	16.44%	19.47%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	-Infinity%	Infinity%	Infinity%
other income:
interest expense incurred net of amounts capitalized	-53,100,000	-54,700,000	-50,600,000	-49,800,000	-51,700,000			-48,200,000	-46,000,000	-48,191,000	-44,477,000	-43,267,000	-44,065,000	-44,130,000	-40,580,000	-39,053,000	-38,821,000	-39,014,000	-38,604,000	-38,669,000	-37,825,000	-36,864,000	-36,521,000	-35,765,000	-35,781,000	-37,615,000	-36,200,000	-36,058,000	-35,974,000
interest income	1,200,000	4,200,000	1,200,000	900,000	400,000	600,000	5,400,000	5,600,000	2,000,000	6,314,000	3,479,000	1,746,000	561,000	469,000	561,000	289,000	276,000	430,000	586,000	467,000	225,000	433,000	480,000	220,000	328,000	424,000	513,000	396,000	299,000	629,000	382,000	320,000	310,000	316,000	402,000	257,000	41,000	-1,084,000	912,000	946,000	655,000	458,000	414,000	301,000	448,000	384,000	575,000	576,000	390,000				364,000	627,000	437,000				246,000	327,000	329,000	749,000	628,000	433,000
other income	700,000	5,000,000	600,000	-400,000	800,000	300,000	-1,300,000	400,000	-800,000	-1,687,000	-647,000	-1,540,000	674,000	-1,023,000	464,000	1,563,000	704,000	-231,000	1,560,000	-191,000	266,000	-1,590,000	-1,193,000	-1,863,000	2,353,000	-5,781,000	269,000	137,000	-837,000	627,000	-703,000	-1,551,000	-172,000	-1,588,000	189,000	-58,000	-102,000	-1,410,000	160,000	-47,000	688,000	688,000	842,000	395,000	331,000	-1,639,000	261,000	409,000	592,000	-727,000	26,000	12,000	-287,000	888,000	1,472,000	-993,000	27,000	25,000	418,000	2,142,000	893,000	-760,000	171,000	344,000
total other	-51,200,000	-37,125,000	-48,800,000	-49,300,000	-50,500,000
income before income taxes	150,700,000	125,900,000	29,900,000	33,200,000	154,500,000	113,800,000	29,300,000	28,400,000	148,500,000	92,966,000	56,126,000	20,455,000	132,053,000	85,339,000	39,924,000	35,188,000	135,512,000	75,160,000	53,415,000	28,873,000	100,981,000	87,930,000	45,000,000	29,525,000	113,226,000	80,374,000	17,903,000	20,000,000	124,625,000	79,721,000	29,278,000	33,708,000	113,175,000	87,125,000	45,403,000	35,713,000	113,501,000
income tax	-17,600,000	-17,200,000	-4,000,000	-4,400,000	-18,100,000	-12,700,000	-2,900,000		-16,900,000	-9,650,000	-7,366,000		-14,673,000	-3,980,000	-2,090,000			-836,000	-5,253,000	-586,000	-494,000	-6,371,000	-4,651,000	-4,831,000	-16,002,000
net income	133,100,000	108,700,000	25,900,000	28,800,000	136,400,000	101,100,000	26,400,000	24,700,000	131,600,000	83,316,000	48,760,000	26,544,000	117,380,000	76,054,000	37,834,000	35,846,000	121,024,000	74,324,000	48,162,000	28,287,000	100,487,000	80,496,000	40,349,000	24,694,000	97,224,000	72,872,000	15,395,000	17,693,000	107,362,000	90,344,000	20,944,000	24,740,000	136,634,000	54,221,000	31,598,000	25,311,000	80,146,000	21,414,000	17,884,000	3,283,000	40,050,000															6,068,750	572,000	19,263,000	31,434,000	-2,180,000	24,581,000	50,974,500	164,911,000	16,791,000
yoy	-2.42%	7.52%	-1.89%	16.60%	3.65%	21.35%	-45.86%	-6.95%	12.11%	9.55%	28.88%	-25.95%	-3.01%	2.33%	-21.44%	26.72%	20.44%	-7.67%	19.36%	14.55%	3.36%	10.46%	162.09%	39.57%	-9.44%	-19.34%	-26.49%	-28.48%	-21.42%	66.62%	-33.72%	-2.26%	70.48%	153.20%	76.68%	670.97%	100.11%																			-378.38%	-97.67%	-62.21%	-80.94%	-112.98%
qoq	22.45%	319.69%	-10.07%	-78.89%	34.92%	282.95%	6.88%	-81.23%	57.95%	70.87%	83.69%	-77.39%	54.34%	101.02%	5.55%	-70.38%	62.83%	54.32%	70.26%	-71.85%	24.83%	99.50%	63.40%	-74.60%	33.42%	373.35%	-12.99%	-83.52%	18.84%	331.36%	-15.34%	-81.89%	151.99%	71.60%	24.84%	-68.42%	274.27%	19.74%	444.75%	-91.80%																960.97%	-97.03%	-38.72%	-1541.93%	-108.87%	-51.78%	-69.09%	882.14%
net income margin %	17.05%	17.10%	6.02%	6.56%	16.94%	16.93%	6.57%	6.14%	18.12%	14.08%	11.98%	6.45%	12.74%	9.61%	8.18%	7.56%	14.70%	13.21%	12.65%	7.59%	15.86%	16.55%	11.64%	7.55%	18.10%	15.26%	4.73%	5.30%	17.96%	18.03%	6.50%	6.96%	23.75%	12.43%	9.24%	7.27%	14.47%	4.62%	5.36%	1.01%	8.90%	0%	0%	0%	0%	0%	0%	0%	0%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	Infinity%	Infinity%	Infinity%	Infinity%	-Infinity%	Infinity%	Infinity%	Infinity%	Infinity%
net income attributable to non-controlling interest	-2,100,000	-3,700,000	-1,000,000	-1,300,000	-2,100,000	-3,000,000	-2,000,000	-1,900,000	-3,700,000	-3,636,000	-3,377,000	-3,491,000	-3,296,000	-3,581,000	-2,861,000	-2,431,000	-3,498,000	-3,169,000	-4,050,000																						-48,000
net income available for common stock	131,000,000	105,000,000	24,900,000	27,500,000	134,300,000	98,100,000	24,400,000	22,800,000	127,900,000	79,680,000	45,383,000	23,053,000	114,084,000	72,473,000	34,973,000	33,415,000	117,526,000	71,155,000	44,112,000	25,161,000	96,316,000	77,185,000	36,283,000	20,966,000	93,174,000	69,179,000	11,740,000	14,583,000	103,808,000	86,571,000	16,950,000	21,917,000	133,004,000	50,653,000	27,663,000	22,195,000	76,523,000	18,168,000	14,131,000	669,000	40,002,000	-14,176,000	-9,943,000	-41,842,000	47,894,000	34,007,000	26,836,000	19,820,000	48,118,000				34,457,000	-13,483,000	29,787,000						24,581,000
earnings per share of common stock:
earnings per share, basic	1.74	1.41	0.34	0.38	1.87	1.38	0.35	0.33	1.88	1.17	0.67	0.35	1.73	1.11	0.54	0.52	1.82	1.11	0.7	0.4	1.54	0.603	0.58	0.34	1.51					0.805	0.32	0.41	2.49	0.595	0.52	0.42	1.44	0.35	0.27	0.01	0.78	-0.1	-0.22	-0.94	1.08
earnings per share, diluted	1.73	1.4	0.34	0.38	1.87	1.39	0.35	0.33	1.87	1.17	0.67	0.35	1.73	1.11	0.54	0.52	1.82	1.11	0.7	0.4	1.54	0.603	0.58	0.33	1.51					0.788	0.31	0.4	2.46	0.573	0.5	0.4	1.39	0.33	0.26	0.01	0.77	-0.1	-0.22	-0.94	1.07
weighted-average common shares outstanding:
basic	75.4	73	72.8	72.4	71.6	69.8	70.5	69	68.2	67	67,315	66,591		64,858	64,876	64,721	64,565	63,219	63,341	62,867	62,633	62,378	62,575	62,573	61,778	60,662	60,976	60,467	59,920	54,420	53,364	53,355	53,319	53,221	53,243	53,229	53,152	51,922	52,184	51,514	51,044	45,288	44,635	44,617	44,541	44,394	44,415	44,399	44,330	44,163			43,847	43,799	43,731	39,864			38,848,000			38,193
diluted	75.6	73.2	72.9	72.4	71.8	69.9	70.6	69	68.3	67.1	67,389	66,684		65,021	65,061	64,883	64,721	63,325	63,436	62,918	62,691	62,439	62,630	62,617	61,856	60,798	61,104	60,606	60,060	55,486	54,819	54,520	54,122	55,120	55,432	55,384	54,932	53,271	53,733	52,986	51,858	45,288	44,635	44,617	44,660	44,598	44,608	44,588	44,554	44,419			44,108	43,799	43,969	40,081			39,009,000			38,193
fuel, purchased power, and cost of natural gas sold						129,550,000	94,500,000
taxes - property and production						12,500,000	16,400,000	16,600,000	17,000,000	17,012,000	16,469,000	16,041,000	17,378,000	17,318,000	16,130,000	16,539,000	16,696,000	14,706,000	15,224,000	15,144,000	15,022,000	14,311,000	13,563,000	14,381,000	14,118,000	13,461,000	12,986,000	13,142,000	13,519,000
interest expense incurred, net of amounts capitalized						-36,200,000	-50,600,000
total other income						-49,500,000	-46,500,000	-42,200,000	-44,800,000	-43,564,000	-41,645,000	-43,061,000	-42,830,000	-44,684,000	-39,555,000	-37,201,000	-37,841,000	-38,815,000	-36,458,000	-38,393,000	-37,334,000	-38,021,000	-37,234,000	-37,408,000	-39,959,000	-40,985,000	-52,648,000	-34,001,000	-35,506,000	-34,406,000	-35,807,000	-35,843,000	-35,099,000	-34,715,000	-33,116,000	-33,153,000	-34,010,000	-34,605,000	-33,881,000	-31,706,000	-29,288,000	-22,658,000	-19,934,000	-18,084,000	-18,641,000	-17,898,000	-16,236,000	-16,106,000	-16,113,000				-25,295,000	-40,510,000	-15,004,000
income tax benefit								-3,700,000				6,089,000				658,000										-7,502,000	-2,508,000	-2,307,000	-17,263,000	11,883,000	-7,477,000	-6,541,000	25,802,000	-15,805,000	-13,805,000	-10,402,000	-33,355,000	730,000	-6,644,000	-309,000	-4,252,000	7,520,000	12,035,000	20,317,000	-25,120,000	-18,046,000	-11,332,000	-10,651,000	-25,366,000	-50,167,000	1,434,000	-11,238,000	-17,914,000	7,574,000	-19,717,000	-7,694,000	1,777,000	-10,346,000		3,437,000
depreciation, depletion and amortization										47,808,750	64,878,000	64,714,000	61,643,000	62,299,000	64,019,000	64,128,000	60,463,000	61,082,000	59,159,000	58,443,000	57,269,000	55,044,000	56,348,000	56,663,000	56,402,000	54,613,000	51,884,000	51,595,000	51,028,000	49,983,000	49,046,000	48,709,000	48,590,000	41,502,000	49,434,000	48,663,000	48,647,000	48,406,000	48,925,000	47,305,000	44,407,000	38,549,000	37,768,000	40,051,000	39,586,000	37,825,000	37,463,000	36,712,000	36,083,000				41,408,000	41,431,000	38,559,000				28,395,000	29,824,000	29,386,000	36,264,000	30,825,000	25,644,000
weighed average common shares outstanding:
basic													66,036
diluted													66,132
income tax expense																	-14,488,000																																										-16,476,000		-13,713,000	-5,497,250	-10,312,000	-8,872,000
impairment of investment																									-6,859,000		-19,741,000
net income attributable to noncontrolling interest																				-3,126,000	-4,171,000	-3,311,000	-4,066,000	-3,728,000	-4,050,000	-3,693,000	-3,655,000	-3,110,000	-3,554,000	-3,773,000	-3,994,000	-2,823,000	-3,630,000	-3,568,000	-3,935,000	-3,116,000	-3,623,000	-3,246,000	-3,753,000	-2,614,000
interest charges -
allowance for funds used during construction - borrowed																										2,001,000	2,200,000	1,397,000	958,000	759,000	701,000	511,000	133,000	354,000	753,000	822,000	486,000	866,000	860,000	754,000	501,000	407,000	478,000	207,000	158,000	230,000	319,000	256,000	270,000				1,127,000	963,000	518,000
allowance for funds used during construction - equity																										-14,000	311,000	127,000	48,000	116,000	193,000	242,000	68,000	339,000	696,000	794,000	492,000	370,000	1,211,000	982,000	707,000	334,000	430,000	77,000	56,000	166,000	297,000	293,000	238,000				196,000	195,000	277,000				2,028,000
income from continuing operations																										72,872,000	15,395,000	17,693,000	107,362,000	91,604,000	21,801,000	27,167,000	138,977,000																	95,621,000	-1,450,000	18,483,000	34,623,000	-12,323,000	35,271,000				31,434,000	-3,853,000	24,581,000	-96,579,000	19,522,000	16,572,000
net (loss) from discontinued operations																														-1,260,000	-857,000	-2,427,000	-2,343,000
amounts attributable to common shareholders:
net income from continuing operations																										69,179,000	11,740,000	14,583,000	103,808,000	87,831,000	17,807,000	24,344,000	135,347,000
earnings per share of common stock, basic -
earnings from continuing operations																										1.14	0.19	0.24	1.73
(loss) from discontinued operations
total earnings per share of common stock, basic																										1.14	0.19	0.24	1.73
earnings per share of common stock, diluted -
total earnings per share of common stock, diluted																										1.13	0.19	0.24	1.73
other operating expenses																												393,000	440,000	-152,000	222,000	525,000	1,490,000	2,512,000	164,000	1,168,000	1,969,000	9,605,000	6,748,000	7,551,000	26,431,000	4,091,000	2,374,000	966,000	52,000	177,000	49,000	149,000	125,000				216,000	267,000	1,196,000
taxes - property, production and severance																														9,795,250	11,905,000	13,976,000	13,300,000	10,201,000	13,092,000	13,743,000	13,969,000	11,531,000	12,114,000	12,760,000	12,117,000	10,365,000	10,675,000	11,377,000	11,936,000	11,118,000	11,082,000	11,044,000	10,336,000				10,213,000	9,478,000	11,510,000
interest expense incurred																														-26,840,000	-36,480,000	-35,425,000	-35,455,000	-35,257,000	-35,305,000	-35,098,000	-35,096,000	-35,601,000	-37,306,000	-34,609,000	-32,074,000	-24,445,000	-22,378,000	-19,545,000	-19,910,000	-19,352,000	-17,919,000	-17,886,000	-17,860,000				-27,475,000	-27,762,000	-29,914,000
capitalized interest																														44,250	100,000	60,000	17,000	-225,000	149,000	130,000	169,000	412,000	282,000	268,000	235,000	272,000	280,000	481,000	276,000	248,000	231,000	246,000	257,000				175,000	131,000	161,000
(loss) from discontinued operations, net of tax																														-1,406,750	-857,000	-2,427,000	-2,343,000
earnings per share, basic -
income from continuing operations, per share																														0.833	0.33	0.46	2.54																				0.79	-0.28	0.81
(loss) from discontinued operations, per share																														-0.025	-0.02	-0.05	-0.05
earnings per share, diluted -
dividends declared per share of common stock																														0.356	0.475	0.475	0.475	0.334	0.445	0.445	0.445	0.315	0.42	0.42	0.42	0.304	0.405	0.405	0.405	0.293	0.39												0.36	0.355
impairment of long-lived assets																																						54,671,000	12,293,000	25,497,000	14,496,000	71,213,000	61,875,000	94,484,000										26,868,000
income before earnings of unconsolidated subsidiaries and income taxes																																						20,684,000	24,528,000	3,592,000	44,302,000	-6,765,250	-21,978,000	-56,942,000	73,311,000	35,531,000	38,168,000	30,471,000	73,485,000
equity in earnings of unconsolidated subsidiaries																																												-47,000	-297,000				-1,000				22,000	22,000	-56,000				317,000
impairment of equity investments																																										765,000		-5,170,000
utilities -
non-regulated energy operations and maintenance																																										20,958,000	22,548,000	23,146,000	22,050,000	24,289,000	20,170,000	21,350,000	22,332,000				22,466,000	20,713,000	22,595,000
other comprehensive income, net of tax:
fair value adjustments on derivatives designated as cash flow hedges																																										661	2,773	-1,966	1,836	-267.75	3,145
reclassification adjustments for cash flow hedges settled and included in net income																																										-862.5	-948	-1,261	-1,241	877.75	1,328
benefit plan liability adjustments - net gain																																										-6.75			-27	-0.5
benefit plan liability tax adjustments - net gain																																														-98.5
benefit plan liability adjustments - prior service cost																																														41
reclassification adjustments of benefit plan liability - prior service cost																																										-27	-36	-36	-36	-27.5	-31
reclassification adjustments of benefit plan liability - net gain																																										343.5	459	458	458	121.25	160
other comprehensive income, net of tax																																										108.25	2,248	-2,805	990	645.75	4,602							-608,000	-166,000
comprehensive income available for common stock																																										-4,375.5	-7,695	-44,647	48,884	24,339.25	31,438
benefit plan liability adjustments - prior service cost (net of tax benefit of (90) for the three months ended 2014
unrealized gain on interest rate swaps																																																					605,000	-15,552,000	12,045,000
total income per share, basic																																														0.76	0.6	0.45	1.09				0.79	-0.31	0.68
total income per share, diluted																																														0.76	0.6	0.44	1.08				0.78	-0.31	0.68
dividends paid per share of common stock																																																0.39	0.39				0.37	0.37	0.37						0.355	0.263	0.35	0.35
natural gas — regulated																																																		87,879,250	60,931,000	191,951,000				95,629,250	65,887,000	223,032,000
other — non-regulated services																																																		5,480,750	6,861,000	7,861,000				5,080,500	6,764,000	7,234,000
total revenue																																																		902,412,000	67,792,000	199,812,000	246,808,000	242,363,000	365,851,000	869,349,000	72,651,000
total cost of sales																																																		52,097,500	27,633,000	124,097,000				59,853,000	33,173,000	153,129,000
gross margin																																																		41,262,500	40,159,000	75,715,000				40,856,750	39,478,000	77,137,000
yoy																																																				85.32%
qoq																																																		2.75%	-46.96%					3.49%	-48.82%
gross margin %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	Infinity%	Infinity%	Infinity%	NaN%	NaN%	NaN%	Infinity%	Infinity%	Infinity%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%
interest expense																																																		-4,550,000	-6,016,000	-6,277,000				-97,044,000	-6,329,000	-6,972,000	-21,766,000	-20,691,000	-23,338,000	-18,963,000	-16,402,000	-12,333,000
revenue:
utilities																																																					214,716,000	214,946,000	336,655,000
non-regulated energy																																																					32,092,000	27,417,000	29,196,000
fuel, purchased power and cost of gas sold																																																					62,582,000	63,452,000	157,183,000
gain on sale of operating assets																																																					-27,285,000
income before equity in earnings of unconsolidated subsidiaries and income taxes																																																					52,515,000	-19,919,000	55,044,000
income from discontinued operations, net of tax																																																					-166,000	-1,160,000	-5,484,000
income per share, basic -
income from discontinued operations, per share																																																						-0.03	-0.13
income per share, diluted -
comprehensive income																																																						-14,091,000	29,621,000
cost of sales:
sales revenue:
total sales revenue																																																										230,266,000
operating revenues																																																											442,332,000	225,799,000	257,349,000	407,775,000	291,892,000	179,211,000
fuel and purchased power																																																											252,535,000	94,120,000	112,169,000	219,099,000	131,300,000	54,615,000
gain on sale of assets																																																											-2,683,000
administrative and general																																																											39,088,000	38,344,000	37,708,000	48,295,000	40,993,000	25,549,000
taxes, other than income taxes																																																											12,673,000	11,171,000	11,811,000	9,704,000	11,609,000	10,636,000
interest rate swap - unrealized gain																																																											-3,035,000
total other incomes																																																											-22,109,000
income from continuing operations before equity in earnings of unconsolidated subsidiaries and income taxes																																																											47,593,000
income from discontinued operations, net of taxes
earnings per share:
basic-
continuing operations																																																											0.81	-0.1	0.64	-2.53	0.51	0.43
discontinued operations																																																												0.04		-0.06	3.79	0.01
total earnings per share - basic																																																											0.81
diluted-
total earnings per share - diluted																																																											0.81
interest rate swap – unrealized gain																																																												-8,694,000	31,706,000
allowance for funds used during
construction – equity																																																												2,598,000	1,314,000	571,750	1,390,000	281,000
before equity in earnings of
unconsolidated subsidiaries and income
taxes																																																												-7,409,000	36,718,000
equity in earnings of unconsolidated
subsidiaries																																																												119,000	1,576,000	914,000	1,359,000	232,000
income from discontinued operations,
net of taxes																																																												1,673,000		39,871,500	145,389,000	219,000
net income attributable to non-controlling
interest
net income available for
common stock																																																												-2,180,000
weighted-average common shares
outstanding:
basic																																																												38,643,000	38,598,000	9,536,250	38,307,000	37,826,000
diluted																																																												38,643,000	38,658,000	9,607,500	38,425,000	38,399,000
basic–
total																																																												-0.06	0.64	-2.59	4.3	0.44
diluted–
net income attributable to non - controlling
unconsolidated subsidiaries, minority
interest and income taxes																																																														-148,673,000	28,475,000	25,289,000
minority interest																																																																-77,000

Balance Sheets:

Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-03-31	2012-09-30	2012-06-30	2011-12-31	2011-09-30	2011-03-31	2010-03-31	2009-09-30	2009-06-30	2008-12-31	2008-09-30	2008-03-31	2007-12-31

assets
current assets:
cash and cash equivalents	23,600,000	182,800,000	21,100,000	8,100,000	6,600,000	16,100,000	12,500,000	624,800,000	123,000,000	86,600,000	594,289,000	152,581,000	39,365,000	21,430,000	11,693,000	10,216,000	16,330,000	8,921,000	10,181,000	1,175,000	13,442,000	6,356,000	6,955,000	31,608,000	54,137,000	9,777,000	13,087,000	6,642,000	12,225,000	20,776,000	10,001,000	8,630,000	30,947,000	15,420,000	13,510,000	11,590,000	11,353,000	13,580,000	62,964,000	116,805,000	46,974,000	456,535,000	38,841,000	87,210,000	63,385,000	21,218,000	11,939,000	14,697,000	17,641,000	7,841,000	13,637,000	12,397,000	247,192,000	40,110,000	21,628,000	74,779,000	44,016,000	136,023,000	137,681,000	122,351,000	168,491,000	152,457,000	75,605,000	80,960,000
restricted cash and equivalents	7,800,000	7,600,000	8,000,000	7,700,000	7,500,000	7,300,000	7,100,000	6,900,000	6,700,000	6,400,000	6,213,000	5,966,000	5,765,000	5,555,000	5,399,000	5,146,000	5,017,000	4,889,000	4,753,000	4,559,000	4,483,000	4,383,000	4,257,000	4,105,000	4,027,000	3,881,000				3,369,000				2,820,000	2,683,000	2,534,000	2,409,000	2,274,000	2,140,000	1,975,000	1,839,000	1,697,000	2,462,000	2,316,000	2,191,000	2,056,000	1,918,000	2,000	2,000	2,000	6,782,000	6,846,000	7,302,000	4,772,000
accounts receivable	383,400,000	389,000,000	251,400,000	260,800,000	377,900,000	351,200,000	205,400,000	221,500,000	334,400,000	350,300,000	228,830,000	260,350,000	477,089,000	508,192,000	249,747,000	267,103,000	383,790,000	321,652,000	181,956,000	189,437,000	282,382,000	265,961,000	160,478,000	170,980,000	238,903,000	255,805,000	148,989,000	166,513,000	282,602,000	269,153,000	152,796,000	175,612,000	257,772,000	248,330,000	153,832,000	169,957,000	224,714,000	263,289,000	154,617,000	150,227,000	206,276,000	147,486,000	115,502,000	123,661,000	178,421,000	189,992,000	123,399,000	135,145,000	203,625,000	177,573,000	114,137,000	168,783,000	104,482,000	109,157,000	156,774,000	241,831,000	306,070,000
materials, supplies and fuel	146,800,000	172,400,000	173,000,000	145,200,000	128,100,000	153,900,000	155,400,000	134,800,000	130,600,000	160,900,000	168,079,000	136,534,000	129,960,000	207,421,000	223,162,000	152,864,000	108,232,000	150,979,000	145,743,000	114,089,000	102,603,000	117,400,000	126,358,000	105,987,000	92,894,000	117,172,000	123,002,000	102,830,000	87,676,000	117,299,000	122,618,000	95,454,000	82,045,000	113,283,000	126,520,000	99,126,000	84,484,000	107,210,000	113,475,000	85,189,000	78,176,000	86,943,000	90,349,000	73,749,000	66,626,000	91,191,000	105,726,000	81,164,000	66,187,000	88,478,000	95,230,000	64,189,000	80,900,000	61,455,000	84,064,000	134,463,000	69,341,000	91,111,000	99,952,000	88,672,000	118,021,000	173,734,000	87,937,000	95,968,000
income tax receivable	22,600,000	23,300,000	21,000,000	20,900,000	19,700,000	19,800,000	19,900,000	19,800,000	18,200,000	18,500,000	17,749,000	18,222,000	17,772,000	17,637,000	17,112,000	17,299,000	17,991,000	18,017,000	17,472,000	17,573,000	18,115,000	19,446,000	20,828,000	20,118,000	22,319,000	16,446,000	12,931,000	13,547,000	15,309,000	12,978,000	11,025,000	11,653,000	13,900,000									368,000		770,000	159,000	2,053,000	1,268,000	1,043,000	1,826,000	1,460,000	4,539,000		11,869,000	12,141,000	9,344,000	10,958,000	23,665,000				20,269,000
regulatory assets, current	122,600,000	139,700,000	138,200,000	132,100,000	129,300,000	154,800,000	156,100,000	142,900,000	147,300,000	175,700,000	191,746,000	198,443,000	214,838,000	260,312,000	290,087,000	267,725,000	265,496,000	270,290,000	213,031,000	218,628,000	129,951,000	51,676,000	49,493,000	51,745,000	49,415,000	43,282,000	46,206,000	48,925,000	54,303,000	48,776,000	48,302,000	50,565,000	54,492,000	81,016,000	61,023,000	53,061,000	53,476,000	49,260,000	50,561,000	54,856,000	54,108,000	57,359,000	51,962,000	47,157,000	56,542,000	74,396,000	68,444,000	64,735,000	62,946,000	24,451,000	30,208,000	23,422,000	24,606,000	34,781,000	59,955,000	45,713,000	36,834,000	42,876,000
other current assets	81,400,000	81,100,000	54,900,000	33,600,000	38,900,000	39,200,000	43,100,000	22,900,000	37,400,000	28,200,000	33,242,000	29,929,000	33,376,000	50,579,000	48,180,000	39,358,000	45,070,000	29,012,000	42,274,000	22,353,000	25,722,000	26,221,000	33,287,000	27,981,000	26,198,000	26,479,000	29,106,000	27,209,000	28,029,000	29,982,000	32,691,000	31,431,000	24,972,000	25,367,000	26,793,000	21,840,000	23,425,000	27,063,000	30,032,000	30,652,000	34,287,000	71,763,000	55,383,000	51,315,000	47,448,000	24,842,000	26,502,000	21,660,000	24,563,000	25,877,000	27,075,000	28,260,000	44,823,000	26,591,000	21,266,000	65,889,000	60,804,000	26,189,000	31,565,000	31,917,000	16,380,000			14,569,000
total current assets	788,200,000	995,900,000	667,600,000	608,400,000	708,100,000	742,300,000	599,500,000	1,173,600,000	797,600,000	826,600,000	1,240,274,000	802,328,000	918,318,000	1,071,708,000	849,248,000	760,427,000	849,308,000	808,133,000	627,726,000	571,739,000	578,615,000	493,291,000	403,657,000	414,105,000	489,673,000	473,184,000	377,421,000	369,673,000	484,570,000	503,833,000	384,920,000	380,652,000	492,105,000	570,782,000	385,018,000	359,256,000	401,402,000	466,814,000	418,171,000	443,734,000	423,146,000	822,151,000	402,282,000	438,572,000	438,685,000	454,036,000	373,952,000	344,055,000	404,416,000	345,288,000	328,897,000	343,723,000	570,918,000	336,003,000	758,921,000	666,068,000	611,793,000	625,986,000
property, plant and equipment	10,556,400,000	10,344,900,000	10,104,200,000	9,894,500,000	9,714,600,000	9,566,500,000	9,383,000,000	9,238,100,000	9,068,400,000	8,917,200,000	8,767,954,000	8,590,796,000	8,466,173,000	8,374,790,000	8,236,053,000	8,086,704,000	7,927,840,000	7,856,573,000	7,697,880,000	7,558,204,000	7,415,818,000	7,305,530,000	7,128,387,000	6,954,274,000	6,808,261,000	6,784,679,000	6,567,229,000	6,317,112,000	6,127,050,000	6,000,015,000	5,819,000,000	5,702,065,000	5,608,539,000	5,567,518,000	6,615,098,000	6,533,581,000	6,436,610,000	6,412,223,000	6,306,119,000	6,209,816,000	6,063,943,000	4,976,778,000	4,882,420,000	4,726,478,000	4,652,058,000	4,563,400,000	4,493,696,000	4,408,291,000	4,318,194,000	4,259,445,000	4,152,097,000	3,977,704,000	3,950,222,000	3,863,380,000	3,724,016,000	3,664,967,000	3,461,559,000	3,045,126,000	2,891,102,000	2,819,510,000	2,705,492,000	2,615,627,000	2,564,259,000	2,490,565,000
less: accumulated depreciation	-2,162,600,000		-2,076,500,000	-2,034,100,000	-1,992,600,000		-1,913,400,000	-1,882,600,000	-1,845,300,000
total property, plant and equipment	8,393,800,000	8,234,200,000	8,027,700,000	7,860,400,000	7,722,000,000	7,629,900,000	7,469,600,000	7,355,500,000	7,223,100,000	7,119,300,000	7,012,348,000	6,919,493,000	6,837,401,000	6,797,948,000	6,697,322,000	6,587,152,000	6,473,415,000	6,449,176,000	6,317,576,000	6,196,751,000	6,095,293,000	6,019,714,000	5,851,977,000	5,703,199,000	5,584,282,000	5,503,186,000	5,323,435,000	5,092,512,000	4,939,938,000	4,854,879,000	4,700,217,000	4,614,376,000	4,559,606,000	4,541,430,000	4,594,767,000	4,551,701,000	4,493,072,000	4,468,989,000	4,465,003,000	4,389,930,000	4,321,873,000	3,259,094,000	3,264,697,000	3,203,509,000	3,300,201,000	3,239,375,000	3,155,187,000	3,082,631,000	3,019,796,000	2,990,297,000	2,893,647,000	2,766,871,000	2,696,414,000	2,856,553,000	2,789,575,000	2,730,855,000	2,572,528,000	2,214,703,000
other assets:
goodwill	1,299,500,000	1,299,500,000	1,299,500,000	1,299,500,000	1,299,500,000	1,299,500,000	1,299,500,000	1,299,500,000	1,299,500,000	1,299,500,000	1,299,454,000	1,299,454,000	1,299,454,000	1,299,454,000	1,299,454,000	1,299,454,000	1,299,454,000	1,299,454,000	1,299,454,000	1,299,454,000	1,299,454,000	1,299,454,000	1,299,454,000	1,299,454,000	1,299,454,000	1,299,454,000	1,299,454,000	1,299,454,000	1,299,454,000	1,299,454,000	1,299,454,000	1,299,454,000	1,299,454,000	1,299,454,000	1,299,454,000	1,299,454,000	1,299,454,000	1,299,454,000	1,300,379,000	1,303,453,000	1,306,169,000	359,759,000	359,527,000	353,396,000	353,396,000	353,396,000	353,396,000	353,396,000	353,396,000	353,396,000	353,396,000	353,396,000	353,396,000	353,396,000	353,396,000	354,831,000	354,831,000	353,734,000	353,734,000	359,288,000	359,290,000	400,959,000	40,501,000	29,577,000
intangible assets	5,800,000	6,400,000	6,700,000	7,000,000	7,300,000	7,600,000	7,900,000	8,100,000	8,400,000	8,400,000	8,708,000	9,002,000	9,296,000	9,589,000	9,883,000	10,177,000	10,474,000	10,770,000	11,063,000	11,356,000	11,649,000	11,944,000	12,242,000	12,536,000	13,083,000	13,266,000	13,566,000	13,867,000	14,136,000	14,337,000	6,954,000	7,155,000	7,357,000	7,559,000	7,765,000	7,972,000	8,182,000	8,392,000	8,944,000	9,164,000	10,957,000	3,380,000	3,440,000	3,211,000	3,121,000	3,176,000	3,231,000	3,286,000	3,342,000	3,397,000	3,453,000	3,565,000	3,675,000	3,731,000	3,843,000	3,899,000	4,011,000	4,248,000	4,725,000	4,784,000	4,884,000			21,026,000
regulatory assets, non-current	251,700,000	255,000,000	253,000,000	247,800,000	252,300,000	272,900,000	276,100,000	281,900,000	283,800,000	304,400,000	313,113,000	325,228,000	347,031,000	392,669,000	416,119,000	434,643,000	457,848,000	526,309,000	617,024,000	617,781,000	672,306,000	226,582,000	221,743,000	220,567,000	222,814,000	228,062,000	214,152,000	234,124,000	232,404,000	235,459,000	212,048,000	210,137,000	212,740,000	216,438,000	239,571,000	244,099,000	249,113,000	246,882,000	234,240,000	220,556,000	239,023,000	175,125,000	182,337,000	180,815,000	178,935,000	183,443,000	140,422,000	138,226,000	138,173,000	138,197,000	183,119,000	181,119,000	191,935,000	186,886,000	182,175,000	142,267,000	140,735,000	117,561,000
other assets, non-current	81,000,000	78,800,000	74,500,000	68,500,000	72,000,000	70,400,000	66,100,000	67,300,000	64,300,000	62,200,000	59,031,000	53,590,000	48,636,000	46,862,000	50,268,000	42,709,000	40,155,000	38,054,000	37,547,000	40,971,000	38,882,000	37,801,000	24,318,000	24,633,000	24,258,000	19,376,000	25,339,000	30,552,000	25,823,000	14,352,000	17,143,000	17,207,000	14,800,000	10,149,000	11,655,000	13,812,000	11,905,000	12,130,000	12,800,000	15,438,000	11,274,000	20,566,000	22,131,000	28,670,000	28,280,000	29,086,000	29,930,000	31,808,000	28,925,000	27,906,000	22,116,000	21,367,000	19,850,000	19,733,000	19,941,000	20,894,000	20,907,000	18,064,000
total other assets, non-current	1,638,000,000	1,639,700,000	1,633,700,000	1,622,800,000	1,631,100,000	1,650,400,000	1,649,600,000	1,656,800,000	1,656,000,000	1,674,500,000	1,680,306,000	1,687,274,000	1,704,417,000	1,748,574,000	1,775,724,000	1,786,983,000	1,807,931,000	1,874,587,000	1,965,088,000	1,969,562,000	2,022,291,000	1,575,781,000	1,557,757,000	1,557,190,000	1,559,609,000	1,560,158,000	1,552,511,000	1,577,997,000	1,571,817,000	1,563,602,000	1,535,599,000	1,533,953,000	1,534,351,000	1,533,600,000	1,558,445,000	1,565,374,000	1,568,663,000	1,567,080,000	1,556,546,000	1,548,837,000	1,567,508,000	562,271,000	567,435,000	566,092,000	563,732,000	569,101,000	526,979,000	526,716,000	523,836,000	522,896,000	562,084,000	559,447,000
total assets	10,820,000,000	10,869,800,000	10,329,000,000	10,091,600,000	10,061,200,000	10,022,600,000	9,718,700,000	10,185,900,000	9,676,700,000	9,620,400,000	9,932,928,000	9,409,095,000	9,460,136,000	9,618,230,000	9,322,294,000	9,134,562,000	9,130,654,000	9,131,896,000	8,910,390,000	8,738,052,000	8,696,199,000	8,088,786,000	7,829,050,000	7,689,932,000	7,648,814,000	7,558,457,000	7,274,950,000	7,081,453,000	7,037,572,000	6,963,327,000	6,661,938,000	6,570,129,000	6,626,989,000	6,658,902,000	6,551,177,000	6,489,092,000	6,475,849,000	6,515,444,000	6,452,136,000	6,394,864,000	6,324,653,000	4,655,501,000	4,246,562,000	4,220,271,000	4,319,828,000	4,279,806,000	4,073,262,000	3,970,498,000	3,964,964,000	3,875,178,000	3,801,240,000	3,686,586,000	3,853,628,000	3,774,280,000	4,127,083,000	3,953,367,000	3,727,028,000	3,358,639,000
liabilities and equity
current liabilities:
accounts payable	210,800,000	311,700,000	219,100,000	180,800,000	216,800,000	229,100,000	136,300,000	155,200,000	132,600,000	186,400,000	124,033,000	133,300,000	173,221,000	310,020,000	187,046,000	185,735,000	173,102,000	217,761,000	142,130,000	133,354,000	160,179,000	183,340,000	152,010,000	118,942,000	136,344,000	193,523,000	145,085,000	150,508,000	178,678,000	210,609,000	115,900,000	104,718,000	106,281,000	160,887,000	95,595,000	99,970,000	105,074,000	153,477,000	141,780,000	170,149,000	121,684,000	105,468,000	91,633,000	78,021,000	88,770,000	124,139,000	100,444,000	100,098,000	149,681,000	130,416,000	77,077,000	82,437,000	69,138,000	59,739,000	104,748,000	219,167,000	217,559,000	194,342,000	184,208,000	175,190,000	288,907,000	234,647,000	242,048,000	242,813,000
accrued liabilities	260,200,000	322,600,000	292,400,000	251,100,000	253,200,000	302,200,000	291,700,000	259,600,000	263,900,000	293,300,000	257,458,000	217,259,000	228,861,000	243,457,000	250,835,000	226,320,000	227,209,000	244,759,000	249,835,000	219,022,000	230,444,000	243,612,000	244,010,000	201,667,000	203,445,000	226,767,000	217,832,000	188,517,000	196,072,000	215,501,000	201,353,000	190,339,000	194,040,000	219,462,000	213,571,000	201,993,000	203,467,000	244,034,000	228,522,000	218,250,000	272,181,000	232,061,000	229,957,000	160,528,000	166,781,000	170,115,000	163,374,000	141,177,000	145,973,000	151,277,000	152,911,000	140,230,000	179,284,000	158,240,000	151,319,000	168,640,000	141,184,000	140,939,000	150,042,000	133,291,000	134,940,000	144,768,000	104,808,000	116,197,000
derivative liabilities, current	1,800,000	5,800,000	5,200,000	1,700,000		4,200,000	4,500,000	1,700,000	2,000,000	6,500,000	2,193,000	322,000	1,729,000	6,600,000	5,569,000	4,719,000	191,000	1,439,000	3,471,000	5,178,000	2,526,000	2,044,000	1,439,000	621,000	852,000	2,254,000	2,396,000	1,491,000	95,000	947,000	1,154,000	485,000	891,000	2,081,000	1,562,000	719,000	464,000	2,459,000	1,941,000	28,855,000	3,965,000	2,835,000	3,312,000	3,289,000	3,342,000	3,340,000	3,397,000	3,480,000	3,498,000	3,474,000	65,944,000	89,112,000	86,509,000	85,675,000	84,367,000	129,163,000	91,139,000	68,834,000
regulatory liabilities, current	85,900,000	99,900,000	91,900,000	96,600,000	99,000,000	94,100,000	86,200,000	90,300,000	89,900,000	98,900,000	93,988,000	101,979,000	110,100,000	46,013,000	24,797,000	33,356,000	52,742,000	17,574,000	30,156,000	36,124,000	13,580,000	25,061,000	22,282,000	59,428,000	54,345,000	33,507,000	25,168,000	39,642,000	45,777,000	29,810,000	41,442,000	52,102,000	42,499,000	6,832,000	7,042,000	17,305,000	22,118,000	13,067,000	16,925,000	34,275,000	35,933,000	4,865,000	5,647,000	10,910,000	17,621,000	3,687,000	828,000	828,000	583,000	10,727,000	14,707,000	19,020,000	10,705,000	16,785,000	16,231,000	10,568,000	15,004,000	9,850,000
notes payable	252,200,000		126,000,000	123,700,000	59,900,000	133,800,000	17,500,000							535,600,000	501,350,000	335,050,000	341,480,000	420,180,000	332,525,000	829,850,000	815,870,000	234,040,000	84,320,000		319,125,000	349,500,000	294,900,000	102,500,000	164,650,000	185,620,000	112,100,000	121,800,000	164,200,000	211,300,000	225,170,000	107,975,000	50,950,000	96,600,000	75,000,000	75,000,000	215,600,000	76,800,000	117,900,000	105,760,000	102,600,000	75,000,000	184,000,000	132,700,000	100,000,000	82,500,000	138,300,000	245,000,000	225,000,000	225,000,000	345,000,000	359,000,000	287,000,000	223,000,000	350,500,000	270,500,000	703,800,000	627,800,000	73,000,000	37,000,000
current maturities of long-term debt	410,000,000			300,000,000	300,000,000			600,000,000	600,000,000	600,000,000	1,125,000,000	525,000,000	525,000,000	525,000,000						7,000,000	7,000,000	8,436,000	9,871,000	4,307,000	5,743,000	5,743,000	5,743,000	5,743,000	5,743,000	5,743,000	255,743,000	255,743,000	255,743,000	5,743,000	5,743,000	5,743,000	5,743,000	5,743,000	5,743,000	930,743,000						275,000,000	275,000,000	275,000,000			255,694,000	104,637,000	328,310,000	227,590,000	2,473,000	2,893,000	4,254,000	24,426,000	32,091,000	32,086,000	2,078,000	2,074,000	143,187,000	143,183,000
total current liabilities	1,220,900,000	740,000,000	734,600,000	953,900,000	928,900,000	763,400,000	536,200,000	1,106,800,000	1,088,400,000	1,185,100,000	1,602,672,000	977,860,000	1,038,911,000	1,666,690,000	969,597,000	785,180,000	794,724,000	901,713,000	758,117,000	1,230,528,000	1,229,599,000	696,533,000	513,932,000	384,965,000	719,854,000	811,294,000	691,124,000	488,401,000	591,015,000	648,230,000	730,230,000	730,635,000	788,564,000	649,101,000	554,270,000	438,865,000	391,542,000	527,932,000	480,820,000	1,467,896,000	660,262,000	422,029,000	448,757,000	358,508,000	379,114,000	651,281,000	727,043,000	653,283,000	399,735,000	378,394,000	704,633,000	681,593,000	898,946,000	773,029,000	878,067,000	889,431,000	756,140,000	671,959,000
long-term debt	3,992,500,000	4,701,100,000	4,252,800,000	3,952,400,000	3,951,600,000	4,250,200,000	4,248,800,000	4,247,100,000	3,802,800,000	3,801,200,000	3,799,510,000	3,955,745,000	3,954,409,000	3,607,340,000	4,131,033,000	4,129,662,000	4,128,291,000	4,126,923,000	4,125,571,000	3,530,216,000	3,529,158,000	3,528,100,000	3,526,894,000	3,532,887,000	3,136,887,000	3,140,096,000	3,049,235,000	3,049,672,000	2,950,299,000	2,950,835,000	2,951,389,000	2,858,068,000	2,858,787,000	3,109,400,000	3,109,864,000	3,160,302,000	3,210,730,000	3,211,189,000	3,211,768,000	2,221,347,000	3,159,055,000	1,866,866,000	1,567,797,000	1,567,727,000	1,542,658,000	1,267,589,000	1,107,519,000	1,121,950,000	1,396,949,000	1,396,948,000	955,979,000	936,477,000	942,950,000	1,044,891,000	1,280,409,000	1,282,194,000	1,184,830,000	993,514,000	719,215,000	719,243,000	501,252,000	501,277,000	561,136,000	564,372,000
deferred credits and other liabilities:
deferred income tax liabilities	736,600,000	697,900,000	679,600,000	674,000,000	666,500,000	625,100,000	603,300,000	598,500,000	576,100,000	548,000,000	530,985,000	528,627,000	535,852,000	508,941,000	491,859,000	490,207,000	490,384,000	465,388,000	445,036,000	436,495,000	428,127,000	408,624,000	398,136,000	388,962,000	387,939,000	360,719,000	347,952,000	343,207,000	337,184,000	311,331,000	292,753,000	289,814,000	290,491,000	336,520,000
regulatory liabilities, non-current	490,200,000	488,300,000	484,700,000	480,100,000	475,200,000	474,600,000	470,800,000	467,100,000	463,500,000	467,700,000	468,969,000	469,509,000	466,961,000	472,560,000	469,963,000	482,642,000	482,442,000	485,377,000	496,261,000	497,608,000	497,810,000	507,659,000	505,317,000	506,393,000	504,149,000	503,145,000	498,773,000	514,914,000	511,482,000	510,984,000	508,846,000	497,929,000	495,362,000	478,294,000	198,189,000	199,005,000	196,538,000	193,689,000	186,496,000	195,166,000	200,337,000	148,176,000	152,164,000	150,835,000	148,918,000	145,144,000	118,856,000	119,462,000	116,793,000	109,429,000	131,730,000	126,573,000	120,491,000	114,593,000	108,217,000	85,074,000	90,923,000	44,788,000
benefit plan liabilities	121,200,000	123,400,000	120,900,000	119,900,000	122,300,000	122,900,000	122,900,000	122,000,000	124,100,000	123,900,000	119,046,000	118,841,000	117,765,000	116,742,000	120,629,000	121,338,000	123,111,000	123,925,000	150,727,000	151,290,000	150,979,000	150,556,000	144,049,000	142,580,000	152,693,000	154,472,000	134,150,000	146,648,000	145,883,000	145,147,000	151,613,000	162,199,000	160,580,000	159,646,000	149,803,000	176,102,000	174,827,000	173,682,000	171,633,000	173,347,000	181,270,000	146,459,000	158,614,000	165,791,000	162,334,000	158,966,000	108,924,000	116,403,000	113,324,000	111,479,000	169,448,000	172,353,000	167,690,000	162,530,000	177,480,000	124,214,000	128,170,000	144,199,000	135,027,000	160,712,000	159,034,000
other deferred credits and other liabilities	231,700,000	213,400,000	205,500,000	191,900,000	199,600,000	201,200,000	204,500,000	201,000,000	199,300,000	188,700,000	152,174,000	155,746,000	154,507,000	156,062,000	155,456,000	142,732,000	140,680,000	141,447,000	134,776,000	133,021,000	135,224,000	134,667,000	120,522,000	119,649,000	122,869,000	124,662,000	120,820,000	118,613,000	118,007,000	109,377,000	105,928,000	104,951,000	105,221,000	105,735,000	137,251,000	135,510,000	135,847,000	138,643,000	141,007,000	122,015,000	124,181,000	155,369,000	136,462,000	154,656,000	154,604,000	154,406,000	144,089,000	137,765,000	129,083,000	133,279,000	133,341,000	125,958,000	129,630,000	124,482,000	123,553,000	128,013,000	134,617,000	114,021,000
total deferred credits and other liabilities	1,579,700,000	1,523,000,000	1,490,700,000	1,465,900,000	1,463,600,000	1,423,800,000	1,401,500,000	1,388,600,000	1,363,000,000	1,328,300,000	1,271,174,000	1,272,723,000	1,275,085,000	1,254,305,000	1,237,907,000	1,236,919,000	1,236,617,000	1,216,137,000	1,226,800,000	1,218,414,000	1,212,140,000	1,201,506,000	1,168,024,000	1,157,584,000	1,167,650,000	1,142,998,000	1,101,695,000	1,123,382,000	1,112,556,000	1,076,839,000	1,059,140,000	1,054,893,000	1,051,654,000	1,080,195,000	1,091,061,000	1,099,894,000	1,084,599,000	1,041,894,000	1,033,318,000	1,021,505,000	1,020,512,000	900,739,000	942,796,000	983,150,000	990,289,000	984,912,000	881,308,000	853,940,000	830,861,000	792,088,000	849,679,000	807,623,000	797,415,000	760,075,000	759,271,000	693,737,000	672,911,000	585,168,000
commitments, contingencies and guarantees
equity:
stockholder's equity -
common stock 1 par value; 100,000,000 shares authorized; issued 76,174,264 and 75,520,234 shares, respectively	76,200,000
additional paid-in capital	2,459,400,000	2,417,500,000	2,415,000,000	2,260,700,000	2,238,200,000	2,193,400,000	2,193,900,000	2,084,200,000	2,040,200,000	2,007,700,000	1,994,439,000	1,941,234,000	1,911,476,000	1,882,653,000	1,811,093,000	1,808,437,000	1,786,980,000	1,783,436,000	1,726,277,000	1,701,825,000	1,658,957,000	1,657,285,000	1,655,912,000	1,654,563,000	1,652,861,000	1,552,788,000	1,553,190,000	1,522,208,000	1,469,410,000	1,450,569,000	1,157,214,000	1,154,947,000	1,151,933,000	1,150,285,000	1,147,922,000	1,145,493,000	1,143,102,000	1,138,982,000	1,123,527,000	1,072,927,000	960,605,000	953,044,000	753,856,000	751,679,000	749,517,000	748,840,000	746,575,000	744,505,000	742,016,000	742,344,000	740,209,000	735,000,000	731,176,000	727,613,000	722,623,000	604,945,000	601,021,000	593,589,000	588,556,000	586,879,000	584,582,000	580,601,000	578,742,000	560,475,000
retained earnings	1,420,800,000	1,342,900,000	1,289,000,000	1,313,300,000	1,334,800,000	1,249,100,000	1,197,500,000	1,219,600,000	1,241,700,000	1,158,200,000	1,121,196,000	1,118,145,000	1,136,844,000	1,064,122,000	1,032,522,000	1,036,263,000	1,041,451,000	962,458,000	929,369,000	921,122,000	931,538,000	870,738,000	828,993,000	826,269,000	838,841,000	778,776,000	742,138,000	761,222,000	777,262,000	700,396,000	644,154,000	652,642,000	656,161,000	548,617,000	516,371,000	512,498,000	513,885,000	457,934,000	462,090,000	469,940,000	490,999,000	472,534,000	504,864,000	532,965,000	629,135,000	599,389,000	582,800,000	573,379,000	570,963,000	540,244,000	539,030,000	519,184,000	478,459,000	460,324,000	476,603,000	467,043,000	498,614,000	491,202,000	454,907,000	470,883,000	447,453,000	561,102,000	400,909,000	397,393,000
treasury stock	-3,700,000	-2,600,000	-2,700,000	-2,800,000	-2,000,000	-3,300,000	-5,900,000	-4,900,000	-4,700,000	-4,100,000	-3,457,000	-3,167,000	-2,697,000	-2,435,000	-1,715,000	-1,542,000	-1,287,000	-3,509,000	-2,819,000	-2,988,000	-2,564,000	-2,119,000	-1,710,000	-1,879,000	-1,925,000	-267,000	-1,636,000	-1,544,000	-1,432,000	-2,510,000	-4,072,000	-3,642,000	-3,049,000	-2,306,000	-2,448,000	-2,325,000	-2,443,000	-791,000	-1,155,000	-975,000	-1,573,000	-1,888,000	-1,789,000	-1,771,000	-1,688,000	-1,875,000	-1,841,000	-1,801,000	-1,638,000	-1,968,000	-1,801,000	-1,549,000	-2,354,000	-2,177,000	-970,000	-810,000	-762,000	-112,000			-1,392,000			-1,347,000
accumulated other comprehensive	-7,500,000		-8,800,000	-8,000,000											-20,389,000
total stockholders' equity	3,945,200,000		3,768,000,000	3,636,100,000	3,635,100,000		3,446,600,000	3,357,300,000	3,333,900,000		3,167,317,000	3,110,015,000	3,097,947,000																																								1,214,317,000	1,196,285,000	1,209,336,000	1,088,005,000	1,113,147,000	1,107,998,000
non-controlling interest	81,700,000	82,100,000	82,900,000	83,300,000	82,000,000	83,700,000	85,600,000	86,100,000	88,600,000	90,500,000	92,255,000	92,752,000	93,784,000	94,982,000	97,141,000	97,354,000	99,107,000	100,029,000	102,379,000
total equity	4,026,900,000	3,905,700,000	3,850,900,000	3,719,400,000	3,717,100,000	3,585,200,000	3,532,200,000	3,443,400,000	3,422,500,000	3,305,800,000	3,259,572,000	3,202,767,000	3,191,731,000	3,089,895,000	2,983,757,000	2,982,801,000	2,971,022,000	2,887,123,000	2,799,902,000	2,758,894,000	2,725,302,000	2,662,647,000	2,620,200,000	2,614,496,000	2,624,423,000	2,464,069,000	2,432,896,000	2,419,998,000	2,383,702,000	2,287,423,000	1,921,179,000	1,926,533,000	1,927,984,000	1,820,206,000	1,795,982,000	1,790,031,000	1,788,978,000	1,730,134,000	1,722,024,000	1,679,945,000																			1,062,530,000	1,080,100,000
total liabilities and total equity	10,820,000,000	10,869,800,000	10,329,000,000	10,091,600,000	10,061,200,000	10,022,600,000	9,718,700,000	10,185,900,000	9,676,700,000	9,620,400,000	9,932,928,000	9,409,095,000	9,460,136,000	9,618,230,000	9,322,294,000	9,134,562,000	9,130,654,000	9,131,896,000	8,910,390,000	8,738,052,000	8,696,199,000	8,088,786,000	7,829,050,000	7,689,932,000	7,648,814,000	7,558,457,000	7,274,950,000	7,081,453,000	7,037,572,000	6,963,327,000	6,661,938,000	6,570,129,000	6,626,989,000
less accumulated depreciation and depletion		-2,110,700,000				-1,936,600,000				-1,797,900,000				-1,576,842,000				-1,407,397,000				-1,285,816,000				-1,281,493,000				-1,145,136,000				-1,026,088,000				-1,943,234,000				-1,717,684,000				-1,324,025,000				-1,269,148,000		-1,210,833,000	-1,253,808,000	-1,006,827,000	-934,441,000	-934,112,000	-889,031,000	-830,423,000	-795,378,000	-773,278,000	-683,332,000	-566,191,000	-689,997,000	-667,031,000
stockholders’ equity -
common stock 1.00 par value; 100,000,000 shares authorized; issued: 75,520,234 and 71,676,756, respectively		75,500,000
accumulated other comprehensive income		-9,700,000			-8,400,000	-9,400,000	-10,600,000	-11,300,000	-12,300,000	-14,800,000	-12,907,000	-13,312,000	-14,347,000	-15,567,000		-22,816,000	-20,078,000	-20,084,000	-19,169,000	-24,446,000	-26,328,000	-27,346,000	-26,922,000	-28,434,000	-29,382,000	-30,655,000	-25,695,000	-26,227,000	-26,459,000	-26,916,000	-37,703,000	-38,763,000	-39,924,000	-41,202,000	-32,566,000	-32,941,000	-33,730,000	-34,883,000	-32,951,000	-31,764,000	-20,825,000	-9,055,000	-14,611,000	-16,859,000	-14,054,000	-15,044,000	-14,839,000	-19,441,000	-18,589,000	-17,422,000	-31,021,000	-36,224,000	-37,215,000	-33,652,000	-32,878,000	-22,665,000
total stockholders’ equity		3,823,600,000				3,501,500,000				3,215,300,000				2,994,913,000	2,886,616,000	2,885,447,000	2,871,915,000	2,787,094,000	2,697,523,000	2,659,040,000	2,624,513,000	2,561,385,000	2,519,046,000	2,513,292,000	2,523,168,000	2,362,123,000	2,329,478,000	2,316,750,000	2,279,159,000	2,181,588,000	1,813,255,000	1,818,846,000	1,818,770,000	1,708,974,000	1,682,804,000	1,676,239,000	1,674,316,000	1,614,639,000	1,604,642,000	1,562,427,000	1,480,683,000	1,465,867,000	1,287,212,000	1,310,886,000	1,407,767,000	1,376,024,000	1,357,392,000	1,341,325,000	1,337,419,000	1,307,748,000	1,290,949,000	1,260,893,000
common stock 1 par value; 100,000,000 shares authorized; issued 75,520,225 and 71,676,756 shares, respectively			75,500,000
common stock 1 par value; 100,000,000 shares authorized; issued 72,902,676 and 71,676,756 shares, respectively				72,900,000
derivative assets, current					100,000						126,000	303,000	153,000	582,000	3,868,000	716,000	7,382,000	4,373,000	12,316,000	3,925,000	1,917,000	1,848,000	2,001,000	1,581,000	1,780,000	342,000	412,000	405,000	932,000	1,500,000	1,392,000	666,000	295,000	304,000	657,000	1,148,000	1,541,000	4,138,000	4,382,000	4,030,000	1,486,000							1,737,000	1,846,000	717,000	126,000	1,630,000	16,063,000	16,595,000	18,583,000	48,727,000	49,295,000	54,773,000
common stock 1 par value; 100,000,000 shares authorized; issued 72,544,232 and 71,676,756 shares, respectively					72,500,000
common stock 1.00 par value; 100,000,000 shares authorized; issued: 71,676,756 and 68,265,042, respectively						71,700,000
common stock 1 par value; 100,000,000 shares authorized; issued 71,676,746 and 68,265,042 shares, respectively							71,700,000
common stock 1 par value; 100,000,000 shares authorized; issued 69,747,220 and 68,265,042 shares, respectively								69,700,000
common stock 1 par value; 100,000,000 shares authorized; issued 68,969,578 and 68,265,042 shares, respectively									69,000,000
common stock 1.00 par value; 100,000,000 shares authorized; issued: 68,265,042 and 66,140,396, respectively										68,300,000
less: accumulated depreciation and depletion											-1,755,606,000	-1,671,303,000	-1,628,772,000		-1,538,731,000	-1,499,552,000	-1,454,425,000		-1,380,304,000	-1,361,453,000	-1,320,525,000		-1,276,410,000	-1,251,075,000	-1,223,979,000		-1,243,794,000	-1,224,600,000	-1,187,112,000		-1,118,783,000	-1,087,689,000	-1,048,933,000		-2,020,331,000	-1,981,880,000	-1,943,538,000		-1,841,116,000	-1,819,886,000	-1,742,070,000		-1,617,723,000	-1,522,969,000	-1,351,857,000		-1,338,509,000	-1,325,660,000	-1,298,398,000		-1,258,450,000
common stock 1 par value; 100,000,000 shares authorized; issued 68,046,262 and 66,140,396 shares, respectively											68,046,000
common stock 1 par value; 100,000,000 shares authorized; issued 67,115,403 and 66,140,396 shares, respectively												67,115,000
common stock 1 par value; 100,000,000 shares authorized; issued 66,670,709 and 66,140,396 shares, respectively													66,671,000
common stock 1.00 par value; 100,000,000 shares authorized; issued: 66,140,396 and 64,793,095, respectively														66,140,000
stockholders’ equity —
common stock 1 par value; 100,000,000 shares authorized; issued 65,105,205 and 64,793,095 shares, respectively															65,105,000
common stock 1 par value; 100,000,000 shares authorized; issued 65,105,178 and 64,793,095 shares, respectively																65,105,000
common stock 1 par value; 100,000,000 shares authorized; issued 64,849,227 and 64,793,095 shares, respectively																	64,849,000
common stock 1.00 par value; 100,000,000 shares authorized; issued: 64,793,095 and 62,827,179, respectively																		64,793,000
common stock 1 par value; 100,000,000 shares authorized; issued 63,865,151 and 62,827,179 shares, respectively																			63,865,000
common stock 1 par value; 100,000,000 shares authorized; issued 63,526,913 and 62,827,179 shares, respectively																				63,527,000
noncontrolling interest																				99,854,000	100,789,000	101,262,000	101,154,000	101,204,000	101,255,000	101,946,000	103,418,000	103,248,000	104,543,000	105,835,000	107,924,000	107,687,000	109,214,000	111,232,000	113,178,000	113,792,000	114,662,000	115,495,000	117,382,000	117,518,000
common stock 1 par value; 100,000,000 shares authorized; issued 62,909,973 and 62,827,179 shares, respectively																					62,910,000
common stock 1.00 par value; 100,000,000 shares authorized; issued: 62,827,179 and 61,480,658, respectively																						62,827,000
investments																							15,659,000	15,438,000	15,250,000	21,929,000	21,583,000	41,271,000	41,247,000	41,013,000	41,202,000	41,148,000	40,927,000	13,090,000	12,947,000	12,761,000	12,712,000	12,561,000	12,416,000	12,363,000	12,126,000	11,985,000	12,148,000	12,098,000	17,210,000	17,294,000	17,144,000	17,096,000	16,916,000	16,697,000	16,612,000	16,545,000	16,273,000	16,208,000	17,261,000	17,338,000	17,088,000	18,466,000	19,462,000	20,316,000	22,764,000	21,911,000	16,745,000	19,216,000
commitments and contingencies
common stock 1 par value; 100,000,000 shares authorized; issued 62,773,015 and 61,480,658 shares, respectively																							62,773,000
common stock 1 par value; 100,000,000 shares authorized; issued 62,772,996 and 61,480,658 shares, respectively																								62,773,000
common stock 1 par value; 100,000,000 shares authorized; issued 62,772,978 and 61,480,658 shares, respectively																									62,773,000
common stock 1 par value; 100,000,000 shares authorized; issued: 61,480,658 and 60,048,567, respectively																										61,481,000
restricted cash																											3,688,000	3,602,000	3,494,000		3,241,000	3,084,000	2,958,000																						9,254,000	4,080,000	3,406,000	27,215,000	6,000			5,514,000	5,484,000	5,443,000
liabilities and total equity
common stock 1 par value; 100,000,000 shares authorized; issued 61,480,640 and 60,048,567 shares, respectively																											61,481,000
common stock 1 par value; 100,000,000 shares authorized; issued 61,091,385 and 60,048,567 shares, respectively																												61,091,000
current assets held for sale																															2,854,000	3,557,000	24,724,000	84,242,000
current liabilities held for sale																															2,538,000	5,448,000	24,910,000	41,774,000
common stock 1 par value; 100,000,000 shares authorized; issued 60,378,020; 60,048,567; and 53,648,817 shares, respectively																													60,378,000
accrued income tax																																		1,022,000				12,552,000														1,157,000
common stock 1 par value; 100,000,000 shares authorized; issued: 60,048,567 and 53,579,986, respectively																														60,049,000
noncurrent assets held for sale
accrued income taxes																																			5,587,000	5,160,000	3,726,000		10,909,000	10,624,000	10,899,000		308,000															10,568,000	15,734,000	27,152,000		48,360,000	303,000	833,000
non-current liabilities held for sale
common stock 1 par value; 100,000,000 shares authorized; issued 53,661,863; 53,579,986; and 53,524,529 shares, respectively																															53,662,000
common stock 1 par value; 100,000,000 shares authorized; issued 53,661,850; 53,579,986; and 53,513,521 shares, respectively																																53,662,000
common stock 1 par value; 100,000,000 shares authorized; issued 53,648,817; 53,579,986; and 53,502,252 shares, respectively																																	53,649,000
derivative assets, non-current																																				37,000	9,000	222,000	183,000	226,000	85,000	3,441,000											1,167,000	1,770,000	1,971,000	17,215,000	5,135,000	5,877,000
liabilities, redeemable noncontrolling interest and equity
noncurrent liabilities held for sale
redeemable noncontrolling interest																																						4,295,000	4,206,000	4,171,000
common stock 1 par value; 100,000,000 shares authorized; issued: 53,579,986 and 53,397,467, respectively																																		53,580,000
total liabilities, redeemable noncontrolling interest and total equity																																		6,658,902,000	6,551,177,000	6,489,092,000	6,475,849,000	6,515,444,000	6,452,136,000	6,394,864,000
liabilities, redeemable noncontrolling interest and total equity
deferred income tax liabilities, net, non-current																																			605,744,000	589,189,000	577,211,000	535,606,000	533,865,000	530,746,000	500,202,000	450,579,000	494,834,000	510,435,000	522,290,000	523,716,000	506,166,000	476,059,000	466,856,000	432,287,000	403,772,000	367,502,000	338,194,000	316,393,000	300,988,000
derivative liabilities, non-current																																			74,000	88,000	176,000	274,000	317,000	231,000	14,522,000	156,000	722,000	1,433,000	2,143,000	2,680,000	3,273,000	4,251,000	4,805,000	5,614,000	11,388,000	15,237,000	41,410,000	42,077,000	49,033,000	26,603,000	15,554,000	12,081,000
common stock 1 par value; 100,000,000 shares authorized; issued 53,524,529; 53,397,467; and 53,131,469 shares, respectively																																			53,525,000
common stock 1 par value; 100,000,000 shares authorized; issued 53,513,521; 53,397,467; and 52,299,075 shares, respectively																																				53,514,000
common stock 1 par value; 100,000,000 shares authorized; issued 53,502,252; 53,397,467; and 51,477,472 shares, respectively																																					53,502,000
common stock 1 par value; 100,000,000 shares authorized; issued: 53,397,467 and 51,231,861 shares, respectively																																						53,397,000
deferred income tax assets, net, current																																											47,783,000	52,394,000	23,913,000	48,288,000	34,756,000	23,872,000	25,780,000	18,889,000	37,163,000	38,196,000	33,681,000	30,401,000	37,202,000
common stock 1 par value; 100,000,000 shares authorized; issued 53,131,469; 51,231,861; and 44,891,626 shares, respectively																																							53,131,000
liabilities and stockholders’ equity
common stock 1 par value; 100,000,000 shares authorized; issued 52,299,075; 51,231,861; and 44,871,771 shares, respectively																																								52,299,000
redeemable non-controlling interest																																									4,141,000
stockholders’ equity:
common stock equity —
common stock 1 par value; 100,000,000 shares authorized; issued 51,477,472; 51,231,861; and 44,856,790 shares, respectively																																									51,477,000
total liabilities and stockholders’ equity																																									6,324,653,000	4,655,501,000	4,246,562,000	4,220,271,000	4,319,828,000	4,279,806,000	4,073,262,000	3,970,498,000	3,964,964,000	3,875,178,000	3,801,240,000	3,686,586,000
common stock 1 par value; 100,000,000 shares authorized; issued: 51,231,861 and 44,714,072 shares, respectively																																										51,232,000
common stock 1 par value; 100,000,000 shares authorized; issued 44,891,626; 44,714,072; and 44,696,670 shares, respectively																																											44,892,000
common stock 1 par value; 100,000,000 shares authorized; issued 44,871,771; 44,714,072; and 44,682,885 shares, respectively																																												44,872,000
common stock 1 par value; 100,000,000 shares authorized; issued 44,856,790; 44,714,072; and 44,666,953 shares, respectively																																													44,857,000
common stock 1 par value; 100,000,000 shares authorized; issued: 44,714,072 and 44,550,239 shares, respectively																																														44,714,000
common stock 1 par value; 100,000,000 shares authorized; issued 44,696,670; 44,550,239; and 44,532,245 shares, respectively																																															44,697,000
common stock 1 par value; 100,000,000 shares authorized; issued 44,682,885; 44,550,239; and 44,516,472 shares, respectively																																																44,683,000
common stock 1 par value; 100,000,000 shares authorized; issued 44,666,953; 44,550,239; and 44,482,304 shares, respectively																																																	44,667,000
common stock 1 par value; 100,000,000 shares authorized; issued: 44,550,239 and 44,278,189 shares, respectively																																																		44,550,000
common stock 1 par value; 100,000,000 shares authorized; issued 44,532,245; 44,278,189; and 44,250,588 shares, respectively																																																			44,532,000
common stock 1 par value; 100,000,000 shares authorized; issued 44,482,304; 44,278,189; and 44,151,428 shares, respectively																																																				44,482,000
assets of discontinued operations																																																							340,851,000						246,000	322,000	1,106,000	1,052,000
total other assets																																																					570,023,000	565,516,000	561,326,000	539,106,000	525,619,000	499,484,000
liabilities and stockholders' equity
liabilities of discontinued operations																																																							173,929,000						88,000	124,000	757,000	1,551,000
stockholders' equity:
common stock —
common stock 1 par value: 100,000,000 shares authorized: issued 44,250,588; 43,957,502 and 39,491,616 shares, respectively																																																					44,251,000
total liabilities and stockholders' equity																																																					3,853,628,000	3,774,280,000	4,127,083,000	3,953,367,000	3,727,028,000	3,358,639,000
common stockholders' —
common stock 1 par value: 100,000,000 shares authorized: issued 44,176,520; 43,957,502 and 39,462,001 shares, respectively																																																						44,177,000
common stock equity-
common stock 1 par value; 100,000,000 shares authorized; issued: 43,957,502 shares at 2011 and 39,280,048 shares at 2010, respectively																																																							43,958,000
deferred income tax assets, current																																																								39,628,000	18,362,000
deferred income tax liabilities, non-current																																																								329,833,000
common stockholders' equity —
common stock 1 par value; 100,000,000 shares authorized; issued 39,491,616, 39,280,048 and 39,243,257 shares, respectively																																																								39,492,000
deferred income tax liability, non-current																																																									303,647,000	270,079,000
common stock 1 par value; 100,000,000 shares authorized; issued 39,434,304; 39,280,048 and 39,178,067 shares, respectively																																																									39,434,000
accumulated other comprehensive loss																																																									-25,160,000	-15,859,000	-19,609,000	-16,415,000	-18,783,000	-29,545,000	-51,788,000	-24,508,000
accounts receivables																																																										242,189,000
deferred income tax asset, current																																																										5,610,000
common stockholders' equity -
common stock 1 par value; 100,000,000 shares authorized; issued 39,178,067; 38,977,526 and 38,796,005 shares, respectively																																																										39,178,000
short-term investments																																																														6,310,000	7,290,000
receivables																																																											208,563,000
derivative assets																																																											56,951,000	75,600,000	73,068,000	84,758,000	46,337,000	37,208,000
deferred income taxes																																																											13,221,000	17,640,000	10,244,000		14,011,000	4,512,000
regulatory assets																																																											12,775,000	14,086,000	35,390,000
other																																																											7,861,000	11,189,000	17,774,000	69,512,000	47,343,000	46,120,000
derivative liabilities																																																											68,634,000	69,347,000	118,657,000	62,409,000	72,526,000	39,380,000
regulatory liabilities																																																											30,120,000	36,943,000	5,203,000
common stock equity –
common stock 1 par value; 100,000,000 shares authorized;
issued 38,872,925; 38,676,054 and 38,490,315 shares,
respectively																																																											38,873,000	38,837,000		38,490,000	38,425,000
shares, respectively																																																											-197,000	-84,000		-1,419,000	-1,050,000
total common stockholders’ equity																																																											1,062,530,000	1,080,100,000
non-controlling interest in subsidiaries
receivables (net of allowance for doubtful accounts of 7,010;
6,751 and 3,417, respectively)																																																												181,250,000
issued 38,836,918; 38,676,054 and 38,439,339 shares,
accounts receivable (net of allowance for doubtful accounts of
6,751 and 4,588, respectively)																																																													357,404,000
minority interest																																																																5,167,000
common stock 1 par value; 100,000,000 shares authorized; issued:
38,676,054 shares at 2008 and 37,842,221 shares at 2007																																																													38,676,000
receivables (net of allowance for doubtful accounts of 6,077;
4,588 and 5,259, respectively)																																																														227,862,000
other assets																																																														32,424,000	16,048,000
minority interest in subsidiaries																																																														132,000	5,244,000
issued 38,490,315; 37,842,221 and 37,802,087 shares,
receivables (net of allowance for doubtful accounts of 4,213;
4,588 and 3,647, respectively)																																																															270,763,000
intangible assets (net of accumulated amortization of
28,865; 28,114 and 26,632, respectively)																																																															20,275,000
issued 38,425,006; 37,842,221 and 37,701,238 shares,
4,588 and 4,202, respectively)																																																																291,189,000
37,842,221 shares in 2007 and 33,404,902 shares in 2006																																																																37,842,000

Cashflow Statements:

Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-03-31	2012-09-30	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-03-31	2009-09-30

operating activities:
net income	133,100,000	108,700,000	25,900,000	28,800,000	136,400,000	101,100,000	26,400,000	24,600,000	131,600,000	83,316,000	48,760,000	26,544,000	117,380,000	76,054,000	37,834,000	35,846,000	121,024,000	74,324,000	48,162,000	28,287,000	100,487,000	80,496,000	40,349,000	24,694,000	97,224,000	72,872,000	15,395,000	17,693,000	107,362,000	90,344,000	20,944,000	24,740,000	136,634,000	54,221,000	31,598,000	25,311,000	80,146,000																25,593,000	-10,525,000	7,752,000	26,910,000	31,434,000	-2,180,000
adjustments to reconcile net income to net cash from operating activities:
depreciation and amortization	74,800,000	73,300,000	71,500,000	69,800,000	69,200,000	68,300,000	69,300,000	66,600,000	65,900,000
deferred financing cost amortization	2,500,000	2,500,000	2,900,000	1,900,000	2,400,000	2,500,000	2,700,000	2,800,000	2,700,000	3,172,000	2,075,000	2,443,000	2,410,000	2,413,000	2,477,000	2,478,000	2,475,000	3,076,000	-489,000	2,167,000	2,214,000	2,360,000	1,277,000	2,009,000	2,237,000	1,512,000	2,107,000	2,212,000	2,007,000	2,163,000	1,988,000	1,794,000	1,900,000	2,049,000	2,074,000	2,448,000	1,690,000	2,178,000	1,145,000	1,191,000	1,666,000	3,290,000	1,955,000	600,000	519,000	519,000	501,000	539,000	568,000	3,554,000	1,095,000	1,251,000
stock compensation	3,200,000	3,800,000	2,300,000	3,100,000	2,600,000	2,400,000	2,800,000	3,000,000	2,400,000	2,437,000	252,000	2,527,000	1,784,000	1,772,000	2,945,000	196,000	3,638,000	2,410,000	2,201,000	1,787,000	3,257,000	2,677,000	1,583,000	822,000	291,000	3,763,000	1,239,000	3,797,000	3,296,000	4,846,000	2,323,000	3,012,000	2,209,000	32,000	1,005,000	3,498,000	3,091,000	1,761,000	2,070,000	2,593,000	4,461,000	1,208,000	-230,000	1,015,000	2,083,000	2,351,000	70,000	3,192,000	3,716,000	3,495,000	3,778,000	2,705,000	712,000	1,672,000	889,000	2,370,000	989,000
deferred income taxes	31,800,000	13,700,000	3,100,000	4,300,000	33,200,000	12,400,000	3,000,000	19,900,000	16,700,000	9,286,000	6,911,000	-5,655,000	14,858,000	9,530,000	2,202,000	-602,000	14,462,000	1,417,000	5,152,000	539,000	153,000	9,589,000	2,101,000	4,525,000	21,876,000	13,639,000	2,446,000	2,333,000	19,602,000	-9,843,000	7,023,000	4,011,000	-25,430,000	16,320,000	13,519,000	8,958,000	42,195,000	-2,361,000	5,972,000	27,000	32,579,000	-5,220,000	-14,531,000	-28,325,000	22,048,000	20,995,000	12,493,000	9,561,000	25,953,000	8,919,000	20,541,000	17,518,000	7,320,000	-5,429,000	6,030,000	25,679,000	3,492,000	5,185,000
employee benefit plans	1,600,000	2,700,000	3,300,000	3,400,000	2,200,000	2,300,000	3,300,000	2,600,000	3,000,000	3,571,000	2,031,000	2,877,000	3,021,000	2,782,000	1,294,000	210,000	1,173,000	2,811,000	1,845,000	2,630,000	2,304,000	2,703,000	3,638,000	4,421,000	1,235,000	4,441,000	2,282,000	2,546,000	3,137,000	3,427,000	3,730,000	3,533,000	3,378,000	1,671,000	2,753,000	2,475,000	3,242,000	2,461,000	4,048,000	4,316,000	3,466,000	5,441,000	4,708,000	5,184,000	5,283,000	3,705,000	3,700,000	3,706,000	3,703,000	5,550,000	5,548,000	5,245,000	3,656,000	3,643,000	3,645,000	3,642,000	3,940,000
other adjustments	1,400,000	-1,900,000	-100,000	-400,000	3,300,000	-2,300,000	2,200,000	-3,700,000	-300,000	8,799,000	655,000	-3,938,000	-2,816,000	5,523,000	-754,000	-14,826,000	5,337,000	4,310,000	-7,787,000	4,344,000	6,151,000	3,759,000	4,231,000	2,787,000	892,000	7,293,000	201,000	4,563,000	4,428,000	-1,832,000	2,784,000	1,831,000	3,053,000	777,000	965,000	-4,212,000	-2,303,000	-3,442,000	-361,000	3,285,000	-5,000,000	-8,885,000	293,000	-3,028,000	6,748,000	12,399,000	535,000	-3,709,000	5,190,000	392,000	3,614,000	-753,000				-1,599,000
changes in certain operating assets and liabilities:
materials, supplies and fuel	24,500,000	1,200,000	-27,400,000	-16,900,000	25,300,000	2,300,000	-18,100,000	-1,400,000	30,400,000	7,854,000	-29,476,000	-3,100,000	76,122,000	13,002,000	-81,412,000	-41,988,000	34,995,000	-5,759,000	-33,922,000	-11,958,000	15,932,000	13,660,000	-18,408,000	-11,719,000	19,222,000	6,178,000	-19,037,000	-14,476,000	29,387,000	5,461,000	-26,872,000	-12,704,000	31,196,000	9,471,000	-27,280,000	-14,725,000	22,445,000	6,265,000	-22,888,000	-8,100,000	25,822,000	3,579,000	-16,600,000	-5,471,000	25,689,000	12,685,000	-24,562,000	-14,977,000	22,291,000	6,752,000	18,519,000	-19,524,000	-33,977,000	-29,955,000	-37,170,000	79,717,000	21,755,000
accounts receivable and other current assets	20,500,000	-135,800,000	6,000,000	127,400,000	-42,600,000	-149,600,000	6,800,000	128,400,000	-11,300,000	-98,264,000	35,944,000	238,091,000	28,729,000	-248,728,000	8,639,000	126,882,000	-71,241,000	-140,518,000	8,835,000	100,112,000	-11,599,000	-86,803,000	2,658,000	65,131,000	8,171,000																												-33,833,000	-14,909,000	80,145,000	-35,605,000	24,044,000	-7,600,000
accounts payable and other current liabilities	-119,300,000	94,400,000	22,900,000	-37,300,000	-56,000,000	90,600,000	15,600,000	-17,800,000	-59,600,000	76,600,000	14,889,000	-74,156,000	-127,233,000	83,442,000	30,093,000	-15,708,000	-8,422,000	30,754,000	39,546,000	-36,038,000	-23,602,000	35,795,000	51,949,000	-19,788,000	-43,297,000																								29,074,000	39,110,000	-13,637,000	32,973,000	42,398,000	4,337,000	-4,524,000	-73,302,000	-24,716,000	10,171,000
regulatory assets	5,400,000	12,000,000	-10,800,000	5,300,000	52,600,000	28,400,000	-8,200,000	15,000,000	54,800,000	37,707,000	12,394,000	32,033,000	154,666,000	85,539,000	-9,985,000	29,787,000	98,528,000	44,702,000	-18,680,000	-7,703,000	-533,006,000																														9,463,000	1,011,000	-9,666,000	-9,672,000	-1,937,000	33,966,000	3,277,000
other operating activities	-3,300,000	-6,500,000	-10,700,000	-800,000	-800,000	-5,200,000	-3,700,000	-9,400,000	-2,900,000	-11,695,000	-8,332,000	-6,054,000	-1,819,000	-3,114,000	-5,095,000	-8,494,000	1,689,000	1,586,000	1,415,000	-2,479,000	-355,000	3,145,000	2,660,000	-14,000	-1,138,000	2,694,000	6,168,000	-4,657,000	1,796,000	4,682,000	3,379,000	-1,094,000	-278,000	-5,466,000	-897,000	1,147,000	-3,202,000	6,773,000	-3,114,000	4,605,000	-7,489,000	-2,631,000	-9,618,000	4,873,000	-1,658,000	-3,354,000	-1,771,000	3,880,000	1,978,000	-4,447,000	-4,892,000	3,671,000	-10,427,000	5,450,000	-10,754,000	4,613,000	-5,335,000	-2,065,000
net cash from operating activities	176,200,000	168,100,000	88,900,000	188,600,000	227,800,000	153,200,000	102,100,000	230,600,000	233,400,000	188,348,000	150,981,000	276,326,000	328,745,000	90,514,000	52,257,000	177,909,000	264,121,000	80,195,000	105,413,000	135,913,000	-386,086,000	122,404,000	110,453,000	117,037,000	191,969,000	119,438,000	96,296,000	113,886,000	175,893,000	110,089,000	68,021,000	140,826,000	169,875,000	108,831,000	56,561,000	116,029,000	146,840,000	95,786,000	1,902,000	84,438,000	138,337,000	62,131,000	111,465,000	102,921,000	151,487,000	84,300,000	65,322,000	75,737,000	98,098,000	72,863,000	109,232,000	92,968,000	17,177,000	24,510,000	70,746,000	111,271,000	88,919,000	24,687,000
capital expenditures	0	0	0	0	0	0	0	0	37,700,000	0	0	0	42,102,000	0	0	0	39,559,000	0	0	0	51,914,000	0	0	0	53,011,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
free cash flows	176,200,000	168,100,000	88,900,000	188,600,000	227,800,000	153,200,000	102,100,000	230,600,000	271,100,000	188,348,000	150,981,000	276,326,000	370,847,000	90,514,000	52,257,000	177,909,000	303,680,000	80,195,000	105,413,000	135,913,000	-334,172,000	122,404,000	110,453,000	117,037,000	244,980,000	119,438,000	96,296,000	113,886,000	175,893,000	110,089,000	68,021,000	140,826,000	169,875,000	108,831,000	56,561,000	116,029,000	146,840,000	95,786,000	1,902,000	84,438,000	138,337,000	62,131,000	111,465,000	102,921,000	151,487,000	84,300,000	65,322,000	75,737,000	98,098,000	72,863,000	109,232,000	92,968,000	17,177,000	24,510,000	70,746,000	111,271,000	88,919,000	24,687,000
investing activities:
property, plant and equipment additions	-267,400,000	-269,600,000	-178,400,000	-218,900,000	-152,900,000	-213,700,000	-188,100,000	-166,200,000	-176,200,000	-133,830,000	-160,031,000	-142,634,000	-119,105,000	-138,063,000	-172,499,000	-157,024,000	-136,779,000	-179,643,000	-178,373,000	-173,174,000	-146,302,000	-231,411,000	-187,680,000	-176,431,000	-171,882,000	-225,839,000	-274,851,000	-173,560,000	-144,126,000	-179,392,000	-121,384,000	-86,776,000	-69,972,000	-69,872,000	-92,370,000	-94,459,000	-69,309,000	-140,685,000	-134,244,000	-115,969,000	-83,885,000	-106,010,000	-142,999,000	-88,949,000	-117,523,000	-108,195,000	-112,997,000	-93,693,000	-83,609,000	-115,264,000	-63,939,000	-112,607,000	-112,202,000	-102,633,000	-103,319,000	-122,544,000	-81,290,000	-81,506,000
other investing activities	-2,600,000	-2,200,000	-1,800,000	-2,100,000	-2,300,000	-300,000	-3,200,000	2,400,000	-700,000	915,000	1,618,000	-1,233,000	17,600,000	504,000	-2,437,000	3,483,000	-1,065,000	-481,000	4,004,000	9,661,000	78,000	-529,000	7,681,000	-210,000	-1,202,000	2,901,000	-1,124,000	1,290,000	-901,000	-7,047,000	3,139,000	-112,000	-261,000	715,000	-228,000	163,000	-185,000	-279,000	-211,000	-320,000	-329,000	8,251,000	-6,537,000	-304,000	-348,000	-289,000	630,000	226,000	-3,220,000	2,625,000	1,030,000	962,000	-5,584,000	252,000	13,000	786,000	-2,865,000	6,896,000
net cash from investing activities	-270,000,000	-271,800,000	-180,200,000	-221,000,000	-155,200,000	-214,000,000	-191,300,000	-163,800,000	-176,900,000					-137,559,000	-174,936,000					-163,513,000	-146,224,000	-231,940,000	-179,999,000	-176,641,000	-173,084,000	-222,938,000	-275,975,000	-172,270,000	-145,027,000	-184,078,000	-118,245,000	-89,972,000	-73,554,000	-61,276,000	-92,598,000	-94,296,000	-69,494,000	-129,546,000	-134,455,000	-108,209,000	-1,216,532,000	-119,729,000	-149,536,000	-89,253,000	-117,871,000	-130,826,000	-90,025,000	-93,467,000	-86,829,000	-112,639,000	-62,909,000	135,005,000	-120,145,000	-101,798,000	-103,306,000	-121,758,000	-78,050,000	-74,708,000
financing activities:
dividends paid on common stock	-53,100,000	-51,100,000	-49,200,000	-49,000,000	-48,600,000	-46,500,000	-46,500,000	-44,900,000	-44,400,000	-42,654,000	-42,332,000	-41,752,000	-41,362,000	-40,873,000	-38,714,000	-38,603,000	-38,533,000	-38,066,000	-35,865,000	-35,578,000	-35,514,000	-35,440,000	-33,559,000	-33,538,000	-32,902,000	-32,868,000	-30,827,000	-30,620,000	-30,332,000	-30,282,000	-25,430,000	-25,435,000	-25,444,000	-25,410,000	-23,790,000	-23,790,000	-23,754,000	-22,323,000	-21,982,000	-21,728,000	-21,537,000	-18,154,000	-18,158,000	-18,144,000	-18,148,000	-17,418,000	-17,415,000	-17,404,000	-17,399,000	-16,909,000	-16,882,000	-16,321,000
common stock issued	40,700,000	0	154,200,000	19,400,000	45,600,000	-200,000	108,600,000	41,800,000	31,200,000	10,920,000	52,691,000	27,306,000	27,383,000	70,017,000	-68,000	16,304,000	3,791,000	56,002,000	22,940,000			-38,000	-119,000	114,000	99,321,000	-3,000	29,602,000	51,810,000	19,949,000	299,755,000	5,000	702,000	372,000	846,000	597,000	794,000	2,171,000	13,929,000	50,200,000	49,669,000	7,821,000	246,275,000	782,000	703,000	999,000	858,000	700,000	812,000	881,000	748,000	1,231,000	2,325,000	120,842,000	762,000	832,000	605,000	1,522,000	785,000
net borrowings (payments) of revolving credit facility and cp program	252,200,000	-126,000,000	2,300,000	63,800,000	-73,900,000	116,300,000				0	0	0	-535,600,000	34,250,000	166,300,000	-6,430,000	-78,700,000	87,655,000
long-term debt - repayments	-300,000,000					0												0	-7,000,000	0	-1,436,000	-1,434,000	-1,436,000	-1,436,000	-4,291,000	-601,436,000	-1,436,000	-301,435,000	-1,436,000	-251,436,000	-600,436,000	-1,435,000	-1,436,000	-1,436,000	-51,436,000	-51,435,000	-1,436,000	-1,436,000	-1,121,436,000			0	0			0				-339,726,000	-1,737,000	-1,229,000	-2,213,000	-2,117,000	-1,897,000	-2,155,000	-33,217,000
distributions to non-controlling interests	-2,500,000	-4,600,000	-1,400,000	0	-3,800,000	-4,900,000	-2,500,000	-4,400,000	-5,600,000	-5,409,000	-3,874,000	-4,523,000	-4,494,000
other financing activities	-2,500,000	-3,300,000	-1,300,000	-100,000	-1,200,000	-100,000	0	-7,300,000	-1,000,000	-807,000	-7,098,000	-73,000	-5,022,000	-716,000	-35,000	2,560,000	-878,000	-1,267,000	-3,069,000	1,031,000	-740,000	-542,000	-45,000	-5,083,000	-1,391,000	-14,745,000	-44,000	-291,000	-1,657,000	-803,000	-8,930,000	-127,000	-1,400,000	-200,000	-60,000	-104,000	-6,555,000	-6,675,000	-16,490,000	2,614,000	-2,409,000	-1,759,000	-5,062,000	-562,000	-1,900,000	21,365,000	-440,000	-1,322,000	-2,451,000			-5,666,000	-1,481,000	-12,000	-159,000	-14,000	-463,000	-1,615,000
net cash from financing activities	-65,200,000	265,000,000	104,600,000	34,100,000	-81,900,000	64,600,000	-522,900,000	435,200,000	-19,800,000	-562,950,000	449,387,000			56,938,000	124,409,000	-30,353,000	-118,740,000	98,805,000	78,156,000	15,409,000	539,496,000	109,063,000	45,045,000	37,153,000	25,621,000	100,383,000	186,210,000	52,909,000	-39,292,000	84,892,000	51,752,000	-73,045,000	-80,656,000	-45,583,000	37,957,000	-21,496,000	-79,573,000	50,000	78,712,000	93,602,000	668,634,000	475,292,000	-10,298,000	10,157,000	8,551,000	55,805,000	21,945,000	14,786,000	-1,469,000	33,980,000	-49,388,000	-20,891,000	86,957,000	63,994,000	76,617,000	22,065,000	12,253,000	65,351,000
net change in cash, restricted cash and cash equivalents	-159,000,000	161,300,000	13,300,000	1,700,000	-9,300,000	3,800,000	-612,100,000	502,000,000	36,700,000	-507,517,000	441,955,000	113,417,000	18,145,000	9,893,000	1,730,000	-5,985,000	7,537,000	-1,124,000	9,200,000	-12,191,000	7,186,000	-473,000	-24,501,000	-22,451,000	44,506,000
cash, restricted cash, and cash equivalents beginning of period	190,400,000		0	0	23,400,000
cash, restricted cash, and cash equivalents end of period	31,400,000		13,300,000	1,700,000	14,100,000
supplemental cash flow information:
cash received during the period:
interest	-51,100,000	-51,000,000	-44,600,000	-52,000,000	-48,800,000	-51,900,000	-33,000,000	-55,900,000	-33,600,000	-48,487,000	-33,306,000	-47,938,000	-27,569,000									-49,096,000	-20,004,000	-45,673,000	-21,776,000																																	8,342,000
income taxes, net of transferred tax credits	14,800,000		-1,000,000	-1,300,000	15,200,000		-100,000
non-cash investing and financing activities:
accrued property, plant, and equipment purchases at march 31,	87,700,000				86,800,000
change in certain operating assets and liabilities:
long-term debt - issuance						0	0			0	450,000,000	0	350,000,000
cash, restricted cash and cash equivalents beginning of year
cash, restricted cash and cash equivalents end of year
income taxes net of transferred tax credits
accrued property, plant and equipment purchases at december 31
increase in capitalized assets associated with asset retirement obligations
accrued property, plant, and equipment purchases at september 30,
accrued property, plant, and equipment purchases at june 30,
cash, restricted cash and cash equivalents beginning of period								0	93,000,000		0	0	26,985,000
cash, restricted cash and cash equivalents end of period								502,000,000	129,700,000		441,955,000	113,417,000	45,130,000
cash (paid) refunded during the period:
accrued property, plant and equipment purchases at june 30,
accrued property, plant and equipment purchases at march 31,									37,700,000				42,102,000
depreciation, depletion and amortization										65,565,000	64,878,000	64,714,000	61,643,000	62,299,000	64,019,000	64,128,000	60,463,000	61,082,000	59,159,000	58,443,000	57,269,000	55,044,000	56,348,000	56,663,000	56,402,000	54,613,000	51,884,000	51,595,000	51,028,000	49,983,000	49,046,000	48,709,000	48,590,000	41,502,000	49,434,000	48,663,000	48,647,000	48,406,000	48,925,000	47,305,000	44,407,000	38,549,000	37,768,000	39,467,000	39,586,000	37,825,000	37,463,000	36,712,000	36,083,000	35,149,000	34,781,000	41,408,000	37,896,000	33,374,000	32,334,000	31,987,000	28,395,000	29,823,000
regulatory liabilities																		0	-24,000	-4,218,000	-5,291,000																														374,000	-1,598,000	6,157,000	-6,532,000	1,589,000	9,984,000	2,834,000
term loan - borrowings																		0	0	0	800,000,000
term loan - repayments																		0	-600,000,000	0	-200,000,000
income taxes										-1,051,000	17,000	-15,000	49,000	25,000	-6,000			35,000	0	496,000	990,000	916,000	-640,000
net cash (used in) investing activities													-101,505,000				-137,844,000	-180,124,000
accrued property, plant and equipment purchases at september 30,
net cash (used in) financing activities													-209,095,000
impairment of investment																						0	0	0	6,859,000	0
contributions to defined benefit pension plans																						0	0			0				0				0				0	-4,000,000			0				0				0		0
long-term debt - issuances																							0				0												1,192,936,000	28,713,000	545,959,000		0
distributions to non-controlling interest															-3,074,000	-4,184,000	-4,420,000
cash, restricted cash and cash equivalents at beginning of period															0	0	13,810,000		0	0	10,739,000		0	0	13,658,000
cash, restricted cash and cash equivalents at end of period															1,730,000	-5,985,000	21,347,000		9,200,000	-12,191,000	17,925,000		-24,501,000	-22,451,000	58,164,000
interest, net of amounts capitalized															-25,436,000	-49,186,000	-23,605,000		-21,500,000	-50,593,000	-21,232,000
accrued property, plant and equipment purchases at september 30
accrued property, plant and equipment purchases at june 30
accrued property, plant and equipment purchases at march 31																	39,559,000				51,914,000				53,011,000
net payments of revolving credit facility and cp program
distributions to noncontrolling interest																				-4,061,000	-4,644,000		-4,116,000	-3,779,000	-4,741,000		-3,485,000	-4,405,000	-4,846,000		-3,757,000	-4,350,000	-5,648,000		-4,549,000	-3,986,000	-4,349,000
net (payments) borrowings of revolving credit facility and cp program																					-18,170,000
loss from discontinued operations, net of tax																														1,260,000			2,343,000
income from continuing operations																										72,872,000	15,395,000	17,693,000	107,362,000	91,604,000	21,801,000	27,167,000	138,977,000																	19,007,000	43,197,000	34,623,000					31,434,000	-3,853,000
regulatory assets - current																						-7,001,000	-19,933,000	1,208,000	20,679,000	11,164,000	-3,661,000	3,085,000	13,031,000		-13,982,000	7,734,000	47,903,000		-1,799,000	2,850,000	236,000		6,591,000	-10,994,000	12,856,000		590,000
regulatory liabilities - current																						6,980,000	-18,000,000	-1,002,000	1,316,000	486,000	-9,296,000	-4,713,000	-1,635,000		1,426,000	3,892,000	16,098,000		-10,236,000	-3,175,000	9,083,000		-11,175,000	-8,619,000	11,613,000		-4,833,000
net cash from operating activities of continuing operations																										119,438,000	96,296,000	113,886,000	175,893,000	113,443,000	71,086,000	138,464,000	171,334,000																	73,747,000	109,232,000	92,968,000					88,919,000	23,014,000
net cash from operating activities of discontinued operations																														-3,354,000	-3,065,000	2,362,000	-1,459,000																			0						1,673,000
purchase of investment																														0	0	-929,000	-23,500,000
net cash from investing activities of continuing operations																										-222,938,000	-275,975,000	-172,270,000	-145,027,000	-186,439,000	-118,245,000	-87,817,000	-93,733,000																	-112,639,000	-62,909,000	135,005,000						-74,708,000
net cash from investing activities of discontinued operations																														2,361,000	0	-2,155,000	20,179,000																			0
net (payments) borrowings of short-term debt																						149,720,000	84,320,000	-319,125,000	-30,375,000	54,600,000	192,400,000	-62,150,000	-20,970,000		-9,700,000	-42,400,000	-47,100,000		117,195,000
distributions to noncontrolling interests
cash (paid) refunded during the period for continuing operations:
non-cash investing and financing activities from continuing operations:
accounts receivable, unbilled revenues and other operating assets																											15,400,000	115,782,000	-15,857,000		21,350,000	75,824,000	-25,113,000		9,124,000	56,850,000	41,052,000		-3,492,000	54,802,000	27,559,000		12,794,000	15,225,000	47,947,000		5,790,000	72,725,000	-78,576,000
accounts payable and other operating liabilities																											24,127,000	-65,874,000	-41,689,000		9,790,000	-25,245,000	-71,149,000		12,070,000	-14,059,000	-99,482,000		-16,732,000	-17,322,000	-68,101,000		61,039,000	-21,642,000	-44,652,000		10,671,000
net change in cash, cash equivalents and restricted cash																											6,531,000	-5,475,000	-8,426,000		1,528,000	-22,191,000	15,665,000
cash, cash equivalents and restricted cash at beginning of period																											0	0	24,145,000		0	0	18,240,000
cash, cash equivalents and restricted cash at end of period																											6,531,000	-5,475,000	15,719,000		1,528,000	-22,191,000	33,905,000
interest rate swap settlement																																						0
acquisition of net assets, net of long-term debt assumed
net increase in commercial paper and short-term borrowings
sale of noncontrolling interest																																						0	0
income from discontinued operations, net of tax
(income) income from discontinued operations, net of tax																																																				166,000
accounts receivable, unbilled revenues and other current assets																																																			-9,166,000	1,185,000
net cash (used in) investing activities of continuing operations
equity units - issuance
net change in cash and cash equivalents																																		1,972,000	1,920,000	237,000	-2,227,000	-33,710,000	-53,841,000	69,831,000	-409,561,000	417,694,000	-48,369,000	23,825,000	42,167,000	9,279,000	-2,758,000	-2,944,000	9,800,000	-5,796,000	-3,065,000	207,082,000	-16,011,000	-13,294,000	44,057,000	11,578,000
cash and cash equivalents beginning of year
cash and cash equivalents end of year
impairment of long-lived assets																																							12,293,000	25,497,000	14,496,000		61,875,000									0						0
derivative fair value adjustments																																							-2,691,000				-3,602,000				3,796,000				3,673,000	1,373,000	-18,298,000	19,544,000	-19,601,000	9,662,000	-1,579,000	6,867,000
acquisition, net of long term debt assumed																																							0
cash and cash equivalents, beginning of period																																			0	0	13,580,000		0	0	456,535,000		0	0	21,218,000		0	0	7,841,000					0
cash and cash equivalents, end of period																																			1,920,000	237,000	11,353,000		-53,841,000	69,831,000	46,974,000		-48,369,000	23,825,000	63,385,000		-2,758,000	-2,944,000	17,641,000		12,397,000			-13,294,000
net (payments) borrowings on short-term debt																																					-45,650,000
impairment of long-lived assets and equity method investments
proceeds from sale of assets
short-term borrowings - issuances																																						217,300,000	0	0	208,100,000	109,400,000	133,450,000	76,760,000	77,700,000	0	182,150,000	127,300,000	86,800,000	68,050,000	78,500,000	6,000,000	247,300,000	206,000,000	354,000,000	210,000,000
short-term borrowings - repayments																																						-195,700,000	0	-140,600,000	-69,300,000	-150,500,000	-121,310,000	-73,600,000	-50,100,000	-109,000,000	-130,850,000	-94,600,000	-69,300,000	-123,850,000	-110,500,000	-6,000,000	-261,300,000	-127,000,000	-261,000,000	-172,000,000
net income available for common stock																																							14,131,000	669,000	40,002,000	-14,176,000	-9,943,000	-55,886,000	47,894,000	34,007,000	26,836,000	19,820,000	48,118,000
acquisition, net of long term debt assumed and cash acquired																																									-1,132,318,000
adjustments to reconcile income from continuing operations to net cash from operating activities:
unrealized (gain) loss on interest rate swaps																																																		-776,000
net cash (used in) operating activities of discontinued operations
acquisition of net assets
de-designated interest rate swap settlement
net cash from financing activities of continuing operations																																																		33,980,000	-49,388,000	-20,891,000						65,351,000
net cash from financing activities of discontinued operations
gain on sale of operating assets																																																									-2,683,000	0
proceeds from sale of business operations
cash and cash equivalents beginning of year *
unrealized loss on interest rate swaps
cash and cash equivalents end of year *
net income available to common stock																																																			43,197,000	34,457,000
investment in notes receivable
proceeds from sale of discontinued business operations
unrealized mark-to-market (gain) loss on interest rate swaps																																																			-7,456,000	-605,000
allowance for funds used during construction - equity																																																			-200,000	-196,000	-256,000	-189,000	-192,000	-295,000	-2,028,000
cash and cash equivalents, beginning of period*																																																			15,462,000	0
cash and cash equivalents, end of period*																																																				207,082,000
equity in (earnings) loss of unconsolidated subsidiaries																																																					-45,000	-43,000	-40,000	-993,000	-317,000
adjustments to reconcile income from continuing operations to net cash from operating activities -
unrealized mark-to-market gain on interest rate swaps																																																					1,402,000	38,246,000	7,827,000	-5,465,000	3,035,000	8,694,000
change in certain operating assets and liabilities-
contributions to defined pension plans																																																					0	-10,500,000
payment for acquisition of net assets, net of cash acquired
proceeds from sale of operating assets																																																					0
working capital adjustment - aquila transaction
other																																																						5,998,000
payment for acquisition of assets
dividends paid																																																						-13,639,000	-15,159,000	-14,371,000	-14,089,000	-13,796,000
proceeds from sale of ownership interest in operating assets																																																									6,105,000
change in operating assets and liabilities:
cash and cash equivalents beginning of period																																																								32,438,000
cash and cash equivalents end of period																																																								44,016,000
income from discontinued operations, net of taxes																																																										-1,673,000
other non-cash adjustments																																																									2,382,000
working capital adjustment of purchase price allocation on aquila assets
increase in short-term borrowings																																																									108,500,000	80,000,000
decrease in short-term borrowings																																																									-50,000,000
increase in cash and cash equivalents																																																									23,122,000
cash and cash equivalents:
beginning of period																																																									112,901,000	0
end of period																																																									136,023,000	15,330,000
adjustments to reconcile income from continuing operations
to net cash from operating activities:
distributed (undistributed) earnings of associated companies																																																										190,000
allowance for funds used during construction – equity																																																										-2,598,000
materials, supplies and fuel, net of market adjustments
regulatory assets and liabilities																																																										-8,290,000
proceeds from sale of ownership interest in plants																																																										462,000
purchase of short-term investments
long-term debt – issuances																																																										0
long-term debt – repayments																																																										-23,000
supplemental disclosure of cash flow information:
non-cash investing and financing activities-
property, plant and equipment acquired with accrued liabilities																																																										-8,851,000
cash paid during the period for-
income taxes (refunded) paid
working capital adjustment of purchase price allocation on aquila acquisition
decrease in cash and cash equivalents
income taxes paid
net change in derivative assets and liabilities
(undistributed) distributed earnings in associated companies
increase in short-term investments
loss (income) from discontinued operations, net of tax
to net cash from operating activities-
issuance of common stock and treasury stock for operating expense
change in operating assets and liabilities-
dividends paid on common and preferred stock
long-term debt – issuance
beginning of year
end of year

Black Hills Corporation(NYSE:BKH)

Black Hills Corporation
(NYSE:BKH)