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Delaware
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41-0423660
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(State or other jurisdiction of
incorporation or organization)
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(I.R.S. Employer Identification No.)
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Large accelerated filer
ý
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Accelerated filer
o
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Non-accelerated filer
o
(Do not check if a smaller reporting company)
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Smaller reporting company
o
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Emerging growth company
o
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Page
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Part I --
Financial Information
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Item 1
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Item 2
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Item 3
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Item 4
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Part II --
Other Information
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Item 1
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Item 1A
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Item 2
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Item 4
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Item 5
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Item 6
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Abbreviation or Acronym
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2017 Annual Report
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Company's Annual Report on Form 10-K for the year ended December 31, 2017
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AFUDC
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Allowance for funds used during construction
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ASC
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FASB Accounting Standards Codification
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ASU
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FASB Accounting Standards Update
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Brazilian Transmission Lines
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Company's former investment in companies owning three electric transmission lines in Brazil
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Calumet
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Calumet Specialty Products Partners, L.P.
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Cascade
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Cascade Natural Gas Corporation, an indirect wholly owned subsidiary of MDU Energy Capital
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Centennial
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Centennial Energy Holdings, Inc., a direct wholly owned subsidiary of the Company
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Centennial Capital
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Centennial Holdings Capital LLC, a direct wholly owned subsidiary of Centennial
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Centennial Resources
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Centennial Energy Resources LLC, a direct wholly owned subsidiary of Centennial
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Company
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MDU Resources Group, Inc.
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Coyote Creek
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Coyote Creek Mining Company, LLC, a subsidiary of The North American Coal Corporation
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Coyote Station
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427-MW coal-fired electric generating facility near Beulah, North Dakota (25 percent ownership)
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Dakota Prairie Refinery
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20,000-barrel-per-day diesel topping plant built by Dakota Prairie Refining in southwestern North Dakota
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Dakota Prairie Refining
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Dakota Prairie Refining, LLC, a limited liability company previously owned by WBI Energy and Calumet (previously included in the Company's refining segment)
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dk
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Decatherm
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Dodd-Frank Act
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Dodd-Frank Wall Street Reform and Consumer Protection Act
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EPA
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United States Environmental Protection Agency
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Exchange Act
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Securities Exchange Act of 1934, as amended
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FASB
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Financial Accounting Standards Board
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FERC
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Federal Energy Regulatory Commission
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Fidelity
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Fidelity Exploration & Production Company, a direct wholly owned subsidiary of WBI Holdings (previously referred to as the Company's exploration and production segment)
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GAAP
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Accounting principles generally accepted in the United States of America
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GHG
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Greenhouse gas
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Great Plains
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Great Plains Natural Gas Co., a public utility division of the Company
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IBEW
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International Brotherhood of Electrical Workers
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ICWU
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International Chemical Workers Union
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Intermountain
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Intermountain Gas Company, an indirect wholly owned subsidiary of MDU Energy Capital
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IPUC
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Idaho Public Utilities Commission
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Knife River
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Knife River Corporation, a direct wholly owned subsidiary of Centennial
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Knife River - Northwest
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Knife River Corporation - Northwest, an indirect wholly owned subsidiary of Knife River
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kWh
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Kilowatt-hour
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LWG
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Lower Willamette Group
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MD&A
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Management's Discussion and Analysis of Financial Condition and Results of Operations
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MDU Construction Services
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MDU Construction Services Group, Inc., a direct wholly owned subsidiary of Centennial
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MDU Energy Capital
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MDU Energy Capital, LLC, a direct wholly owned subsidiary of the Company
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MISO
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Midcontinent Independent System Operator, Inc.
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MMcf
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Million cubic feet
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MMdk
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Million dk
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MNPUC
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Minnesota Public Utilities Commission
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Montana-Dakota
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Montana-Dakota Utilities Co., a public utility division of the Company
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MTPSC
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Montana Public Service Commission
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MW
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Megawatt
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NDPSC
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North Dakota Public Service Commission
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OPUC
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Oregon Public Utility Commission
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Oregon DEQ
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Oregon State Department of Environmental Quality
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Pronghorn
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Natural gas processing plant located near Belfield, North Dakota (WBI Energy Midstream's 50 percent ownership interests were sold effective January 1, 2017)
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PRP
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Potentially Responsible Party
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ROD
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Record of Decision
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SDPUC
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South Dakota Public Utilities Commission
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SEC
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United States Securities and Exchange Commission
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SSIP
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System Safety and Integrity Program
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TCJA
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Tax Cuts and Jobs Act
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Tesoro
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Tesoro Refining & Marketing Company LLC
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VIE
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Variable interest entity
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Washington DOE
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Washington State Department of Ecology
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WBI Energy
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WBI Energy, Inc., a direct wholly owned subsidiary of WBI Holdings
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WBI Energy Midstream
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WBI Energy Midstream, LLC, an indirect wholly owned subsidiary of WBI Holdings
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WBI Energy Transmission
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WBI Energy Transmission, Inc., an indirect wholly owned subsidiary of WBI Holdings
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WBI Holdings
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WBI Holdings, Inc., a direct wholly owned subsidiary of Centennial
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WUTC
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Washington Utilities and Transportation Commission
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WYPSC
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Wyoming Public Service Commission
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Three Months Ended
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Six Months Ended
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June 30,
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June 30,
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2018
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2017
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2018
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2017
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(In thousands, except per share amounts)
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|||||||||||
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Operating revenues:
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Electric, natural gas distribution and regulated pipeline and midstream
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$
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$
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$
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$
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Nonregulated pipeline and midstream, construction materials and contracting, construction services and other
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Total operating revenues
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Operating expenses:
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Operation and maintenance:
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Electric, natural gas distribution and regulated pipeline and midstream
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Nonregulated pipeline and midstream, construction materials and contracting, construction services and other
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Total operation and maintenance
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Purchased natural gas sold
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Depreciation, depletion and amortization
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Taxes, other than income
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Electric fuel and purchased power
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Total operating expenses
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Operating income
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Other income
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Interest expense
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||||
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Income before income taxes
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Income taxes
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||||
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Income from continuing operations
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||||
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Income (loss) from discontinued operations, net of tax (Note 10)
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(
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)
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(
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)
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(
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)
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||||
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Net income
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||||
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Loss on redemption of preferred stocks
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Dividends declared on preferred stocks
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||||
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Earnings on common stock
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$
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$
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$
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$
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Earnings per common share - basic:
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||||
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Earnings before discontinued operations
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$
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$
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$
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$
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Discontinued operations, net of tax
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(
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)
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(
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)
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||||
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Earnings per common share - basic
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$
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$
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$
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$
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Earnings per common share - diluted:
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||||
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Earnings before discontinued operations
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$
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$
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$
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$
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Discontinued operations, net of tax
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(
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)
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||||
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Earnings per common share - diluted
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$
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$
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$
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$
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Dividends declared per common share
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$
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$
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$
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$
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Weighted average common shares outstanding - basic
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||||
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Weighted average common shares outstanding - diluted
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Three Months Ended
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Six Months Ended
|
||||||||||
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June 30,
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June 30,
|
||||||||||
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2018
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2017
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2018
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2017
|
||||||
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(In thousands)
|
|||||||||||
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Net income
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$
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$
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$
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$
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Other comprehensive income (loss):
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|
||||||||
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Reclassification adjustment for loss on derivative instruments included in net income, net of tax of $53 and $56 for the three months ended and $109 and $112 for the six months ended in 2018 and 2017, respectively
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|
||||
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Postretirement liability adjustment:
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|
||||||||
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Amortization of postretirement liability losses included in net periodic benefit cost (credit), net of tax of $145 and $190 for the three months ended and $300 and $406 for the six months ended in 2018 and 2017, respectively
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||||
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Reclassification of postretirement liability adjustment from regulatory asset, net of tax of $0 and $0 for the three months ended and $0 and $(725) for the six months ended in 2018 and 2017, respectively
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(
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)
|
||||
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Postretirement liability adjustment
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(
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)
|
||||
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Foreign currency translation adjustment:
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|
||||||||
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Foreign currency translation adjustment recognized during the period, net of tax of $(13) and $(9) for the three months ended and $(14) and $(3) for the six months ended in 2018 and 2017, respectively
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(
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)
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(
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)
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(
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)
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(
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)
|
||||
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Reclassification adjustment for foreign currency translation adjustment included in net income, net of tax of $75 and $0 for the three months ended and $75 and $0 for the six months ended in 2018 and 2017, respectively
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|
||||
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Foreign currency translation adjustment
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|
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(
|
)
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|
(
|
)
|
||||
|
Net unrealized gain (loss) on available-for-sale investments:
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||||||||
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Net unrealized loss on available-for-sale investments arising during the period, net of tax of $(12) and $(13) for the three months ended and $(39) and $(28) for the six months ended in 2018 and 2017, respectively
|
|
(
|
)
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(
|
)
|
(
|
)
|
(
|
)
|
||||
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Reclassification adjustment for loss on available-for-sale investments included in net income, net of tax of $10 and $17 for the three months ended and $17 and $36 for the six months ended in 2018 and 2017, respectively
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|
||||
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Net unrealized gain (loss) on available-for-sale investments
|
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(
|
)
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(
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)
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|
||||
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Other comprehensive income (loss)
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(
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)
|
||||
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Comprehensive income attributable to common stockholders
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|
$
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|
|
$
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$
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|
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$
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|
|
|
June 30, 2018
|
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June 30, 2017
|
|
December 31, 2017
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|||
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(In thousands, except shares and per share amounts)
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|
||||||||
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Assets
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|
||||||
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Current assets:
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|
||||||
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Cash and cash equivalents
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$
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$
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$
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|
|
Receivables, net
|
|
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|
|||
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Inventories
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|||
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Prepayments and other current assets
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|||
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Current assets held for sale
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|||
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Total current assets
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|
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|
|||
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Investments
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|||
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Property, plant and equipment
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|
|||
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Less accumulated depreciation, depletion and amortization
|
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|
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|
|||
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Net property, plant and equipment
|
|
|
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|
|||
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Deferred charges and other assets:
|
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|
|||
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Goodwill
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|
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|
|||
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Other intangible assets, net
|
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|
|
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|
|||
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Other
|
|
|
|
|
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|
|||
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Noncurrent assets held for sale
|
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|
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|
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|
|||
|
Total deferred charges and other assets
|
|
|
|
|
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|
|||
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Total assets
|
$
|
|
|
$
|
|
|
$
|
|
|
|
Liabilities and Stockholders' Equity
|
|
|
|
|
|
|
|||
|
Current liabilities:
|
|
|
|
|
|
|
|||
|
Long-term debt due within one year
|
$
|
|
|
$
|
|
|
$
|
|
|
|
Accounts payable
|
|
|
|
|
|
|
|||
|
Taxes payable
|
|
|
|
|
|
|
|||
|
Dividends payable
|
|
|
|
|
|
|
|||
|
Accrued compensation
|
|
|
|
|
|
|
|||
|
Other accrued liabilities
|
|
|
|
|
|
|
|||
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Current liabilities held for sale
|
|
|
|
|
|
|
|||
|
Total current liabilities
|
|
|
|
|
|
|
|||
|
Long-term debt
|
|
|
|
|
|
|
|||
|
Deferred credits and other liabilities:
|
|
|
|
|
|
|
|||
|
Deferred income taxes
|
|
|
|
|
|
|
|||
|
Other
|
|
|
|
|
|
|
|||
|
Total deferred credits and other liabilities
|
|
|
|
|
|
|
|||
|
Commitments and contingencies
|
|
|
|
|
|
|
|||
|
Stockholders' equity
:
|
|
|
|
|
|
|
|||
|
Common stock
|
|
|
|
|
|
|
|||
|
Authorized - 500,000,000 shares, $1.00 par value
Shares issued - 196,557,245 at June 30, 2018 and 195,843,297 at June 30, 2017 and December 31, 2017 |
|
|
|
|
|
|
|||
|
Other paid-in capital
|
|
|
|
|
|
|
|||
|
Retained earnings
|
|
|
|
|
|
|
|||
|
Accumulated other comprehensive loss
|
(
|
)
|
(
|
)
|
(
|
)
|
|||
|
Treasury stock at cost - 538,921 shares
|
(
|
)
|
(
|
)
|
(
|
)
|
|||
|
Total stockholders' equity
|
|
|
|
|
|
|
|||
|
Total liabilities and stockholders' equity
|
$
|
|
|
$
|
|
|
$
|
|
|
|
Six Months Ended June 30, 2018
|
|
|
|
|
|
|
||||||||||||||||
|
|
|
|
Other
Paid-in Capital
|
|
Retained Earnings
|
|
Accumu-lated
Other Compre-hensive Loss
|
|
|
|
|
|||||||||||
|
|
Common Stock
|
Treasury Stock
|
|
|||||||||||||||||||
|
|
Shares
|
|
Amount
|
|
Shares
|
|
Amount
|
|
Total
|
|
||||||||||||
|
|
|
|||||||||||||||||||||
|
Balance at December 31, 2017
|
|
|
$
|
|
|
$
|
|
|
$
|
|
|
$
|
(
|
)
|
(
|
)
|
$
|
(
|
)
|
$
|
|
|
|
Cumulative effect of adoption of ASU 2014-09
|
—
|
|
—
|
|
—
|
|
(
|
)
|
—
|
|
—
|
|
—
|
|
(
|
)
|
||||||
|
Adjusted balance at January 1, 2018
|
|
|
|
|
|
|
|
|
(
|
)
|
(
|
)
|
(
|
)
|
|
|
||||||
|
Net income
|
—
|
|
—
|
|
—
|
|
|
|
—
|
|
—
|
|
—
|
|
|
|
||||||
|
Other comprehensive income
|
—
|
|
—
|
|
—
|
|
—
|
|
|
|
—
|
|
—
|
|
|
|
||||||
|
Reclassification of certain prior period tax effects from accumulated other comprehensive loss
|
—
|
|
—
|
|
—
|
|
|
|
(
|
)
|
—
|
|
—
|
|
|
|
||||||
|
Dividends declared on common stock
|
—
|
|
—
|
|
—
|
|
(
|
)
|
—
|
|
—
|
|
—
|
|
(
|
)
|
||||||
|
Stock-based compensation
|
—
|
|
—
|
|
|
|
(
|
)
|
—
|
|
—
|
|
—
|
|
|
|
||||||
|
Repurchase of common stock
|
—
|
|
—
|
|
—
|
|
—
|
|
—
|
|
(
|
)
|
(
|
)
|
(
|
)
|
||||||
|
Issuance of common stock upon vesting of stock-based compensation, net of shares used for tax withholdings
|
—
|
|
—
|
|
(
|
)
|
—
|
|
—
|
|
|
|
|
|
(
|
)
|
||||||
|
Issuance of common stock
|
|
|
|
|
|
|
—
|
|
—
|
|
—
|
|
—
|
|
|
|
||||||
|
Balance at June 30, 2018
|
|
|
$
|
|
|
$
|
|
|
$
|
|
|
$
|
(
|
)
|
(
|
)
|
$
|
(
|
)
|
$
|
|
|
|
Six Months Ended June 30, 2017
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
|
|
|
|
|
|
Other
Paid-in Capital
|
|
Retained Earnings
|
|
Accumu-lated
Other Compre-hensive Loss
|
|
|
|
|
||||||||||||||
|
|
Preferred Stock
|
Common Stock
|
Treasury Stock
|
|
|||||||||||||||||||||||
|
|
Shares
|
|
Amount
|
|
Shares
|
|
Amount
|
|
Shares
|
|
Amount
|
|
Total
|
|
|||||||||||||
|
|
|
|
|
||||||||||||||||||||||||
|
Balance at December 31, 2016
|
|
|
$
|
|
|
|
|
$
|
|
|
$
|
|
|
$
|
|
|
$
|
(
|
)
|
(
|
)
|
$
|
(
|
)
|
$
|
|
|
|
Net income
|
—
|
|
—
|
|
—
|
|
—
|
|
—
|
|
|
|
—
|
|
—
|
|
—
|
|
|
|
|||||||
|
Other comprehensive loss
|
—
|
|
—
|
|
—
|
|
—
|
|
—
|
|
—
|
|
(
|
)
|
—
|
|
—
|
|
(
|
)
|
|||||||
|
Dividends declared on preferred stocks
|
—
|
|
—
|
|
—
|
|
—
|
|
—
|
|
(
|
)
|
—
|
|
—
|
|
—
|
|
(
|
)
|
|||||||
|
Dividends declared on common stock
|
—
|
|
—
|
|
—
|
|
—
|
|
—
|
|
(
|
)
|
—
|
|
—
|
|
—
|
|
(
|
)
|
|||||||
|
Stock-based compensation
|
—
|
|
—
|
|
—
|
|
—
|
|
|
|
(
|
)
|
—
|
|
—
|
|
—
|
|
|
|
|||||||
|
Repurchase of common stock
|
—
|
|
—
|
|
—
|
|
—
|
|
—
|
|
—
|
|
—
|
|
(
|
)
|
(
|
)
|
(
|
)
|
|||||||
|
Issuance of common stock upon vesting of stock-based compensation, net of shares used
for tax withholdings |
—
|
|
—
|
|
—
|
|
—
|
|
(
|
)
|
—
|
|
—
|
|
|
|
|
|
(
|
)
|
|||||||
|
Redemption of preferred stock
|
(
|
)
|
(
|
)
|
—
|
|
—
|
|
—
|
|
(
|
)
|
—
|
|
—
|
|
—
|
|
(
|
)
|
|||||||
|
Balance at June 30, 2017
|
|
|
$
|
|
|
|
|
$
|
|
|
$
|
|
|
$
|
|
|
$
|
(
|
)
|
(
|
)
|
$
|
(
|
)
|
$
|
|
|
|
|
|
Six Months Ended
|
|||||
|
|
|
June 30,
|
|||||
|
|
|
2018
|
|
2017
|
|
||
|
|
|
(In thousands)
|
|||||
|
Operating activities:
|
|
|
|
||||
|
Net income
|
|
$
|
|
|
$
|
|
|
|
Income (loss) from discontinued operations, net of tax
|
|
|
|
(
|
)
|
||
|
Income from continuing operations
|
|
|
|
|
|
||
|
Adjustments to reconcile net income to net cash provided by operating activities:
|
|
|
|
|
|
||
|
Depreciation, depletion and amortization
|
|
|
|
|
|
||
|
Deferred income taxes
|
|
|
|
(
|
)
|
||
|
Changes in current assets and liabilities, net of acquisitions:
|
|
|
|
|
|||
|
Receivables
|
|
(
|
)
|
(
|
)
|
||
|
Inventories
|
|
(
|
)
|
(
|
)
|
||
|
Other current assets
|
|
|
|
(
|
)
|
||
|
Accounts payable
|
|
|
|
|
|
||
|
Other current liabilities
|
|
|
|
(
|
)
|
||
|
Other noncurrent changes
|
|
(
|
)
|
(
|
)
|
||
|
Net cash provided by continuing operations
|
|
|
|
|
|
||
|
Net cash provided by discontinued operations
|
|
|
|
|
|
||
|
Net cash provided by operating activities
|
|
|
|
|
|
||
|
Investing activities:
|
|
|
|
|
|
||
|
Capital expenditures
|
|
(
|
)
|
(
|
)
|
||
|
Acquisitions, net of cash acquired
|
|
(
|
)
|
|
|
||
|
Net proceeds from sale or disposition of property and other
|
|
|
|
|
|
||
|
Investments
|
|
(
|
)
|
(
|
)
|
||
|
Net cash used in continuing operations
|
|
(
|
)
|
(
|
)
|
||
|
Net cash provided by discontinued operations
|
|
|
|
|
|
||
|
Net cash used in investing activities
|
|
(
|
)
|
(
|
)
|
||
|
Financing activities:
|
|
|
|
|
|
||
|
Issuance of long-term debt
|
|
|
|
|
|
||
|
Repayment of long-term debt
|
|
(
|
)
|
(
|
)
|
||
|
Dividends paid
|
|
(
|
)
|
(
|
)
|
||
|
Redemption of preferred stock
|
|
|
|
(
|
)
|
||
|
Repurchase of common stock
|
|
(
|
)
|
(
|
)
|
||
|
Tax withholding on stock-based compensation
|
|
(
|
)
|
(
|
)
|
||
|
Net cash provided by (used in) continuing operations
|
|
|
|
(
|
)
|
||
|
Net cash provided by discontinued operations
|
|
|
|
|
|
||
|
Net cash provided by (used in) financing activities
|
|
|
|
(
|
)
|
||
|
Effect of exchange rate changes on cash and cash equivalents
|
|
(
|
)
|
(
|
)
|
||
|
Increase (decrease) in cash and cash equivalents
|
|
|
|
(
|
)
|
||
|
Cash and cash equivalents -- beginning of year
|
|
|
|
|
|
||
|
Cash and cash equivalents -- end of period
|
|
$
|
|
|
$
|
|
|
|
|
June 30, 2018
|
|
June 30, 2017
|
|
December 31, 2017
|
|
|||
|
|
(In thousands)
|
||||||||
|
Aggregates held for resale
|
$
|
|
|
$
|
|
|
$
|
|
|
|
Asphalt oil
|
|
|
|
|
|
|
|||
|
Materials and supplies
|
|
|
|
|
|
|
|||
|
Merchandise for resale
|
|
|
|
|
|
|
|||
|
Natural gas in storage (current)
|
|
|
|
|
|
|
|||
|
Other
|
|
|
|
|
|
|
|||
|
Total
|
$
|
|
|
$
|
|
|
$
|
|
|
|
|
Three Months Ended
|
Six Months Ended
|
||||||
|
|
June 30,
|
June 30,
|
||||||
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
|
|
(In thousands)
|
|||||||
|
Weighted average common shares outstanding - basic
|
|
|
|
|
|
|
|
|
|
Effect of dilutive performance share awards and restricted stock units
|
|
|
|
|
|
|
|
|
|
Weighted average common shares outstanding - diluted
|
|
|
|
|
|
|
|
|
|
Shares excluded from the calculation of diluted earnings per share
|
|
|
|
|
|
|
|
|
|
|
December 31,
2017 |
|
Adjustments
|
|
January 1,
2018 |
|
|||
|
|
(In thousands)
|
||||||||
|
Liabilities and Stockholders' Equity
|
|
|
|
||||||
|
Current liabilities:
|
|
|
|
||||||
|
Other accrued liabilities
|
$
|
|
|
$
|
|
|
$
|
|
|
|
Deferred credits and other liabilities:
|
|
|
|
||||||
|
Deferred income taxes
|
|
|
(
|
)
|
|
|
|||
|
Other
|
|
|
|
|
|
|
|||
|
Commitments and contingencies
|
|
|
|
||||||
|
Stockholders' equity
:
|
|
|
|
||||||
|
Retained earnings
|
|
|
(
|
)
|
|
|
|||
|
Three Months Ended June 30, 2018
|
Net Unrealized Gain (Loss) on Derivative
Instruments Qualifying as Hedges |
|
Postretirement
Liability Adjustment |
|
Foreign
Currency Translation Adjustment |
|
Net Unrealized
Gain (Loss) on Available-for-sale Investments |
|
Total
Accumulated Other Comprehensive Loss |
|
|||||
|
|
(In thousands)
|
||||||||||||||
|
Balance at beginning of period
|
$
|
(
|
)
|
$
|
(
|
)
|
$
|
(
|
)
|
$
|
(
|
)
|
$
|
(
|
)
|
|
Other comprehensive loss before reclassifications
|
|
|
|
|
(
|
)
|
(
|
)
|
(
|
)
|
|||||
|
Amounts reclassified from accumulated other comprehensive loss
|
|
|
|
|
|
|
|
|
|
|
|||||
|
Net current-period other comprehensive income (loss)
|
|
|
|
|
|
|
(
|
)
|
|
|
|||||
|
Balance at end of period
|
$
|
(
|
)
|
$
|
(
|
)
|
$
|
|
|
$
|
(
|
)
|
$
|
(
|
)
|
|
Three Months Ended June 30, 2017
|
Net Unrealized Gain (Loss) on Derivative
Instruments Qualifying as Hedges |
|
Postretirement
Liability Adjustment |
|
Foreign
Currency Translation Adjustment |
|
Net Unrealized
Gain (Loss) on Available-for-sale Investments |
|
Total
Accumulated Other Comprehensive Loss |
|
|||||
|
|
(In thousands)
|
||||||||||||||
|
Balance at beginning of period
|
$
|
(
|
)
|
$
|
(
|
)
|
$
|
(
|
)
|
$
|
(
|
)
|
$
|
(
|
)
|
|
Other comprehensive loss before reclassifications
|
|
|
|
|
(
|
)
|
(
|
)
|
(
|
)
|
|||||
|
Amounts reclassified from accumulated other comprehensive loss
|
|
|
|
|
|
|
|
|
|
|
|||||
|
Net current-period other comprehensive income (loss)
|
|
|
|
|
(
|
)
|
|
|
|
|
|||||
|
Balance at end of period
|
$
|
(
|
)
|
$
|
(
|
)
|
$
|
(
|
)
|
$
|
(
|
)
|
$
|
(
|
)
|
|
|
|
|
|
|
|
||||||||||
|
Six Months Ended June 30, 2018
|
Net Unrealized Gain (Loss) on Derivative
Instruments Qualifying as Hedges |
|
Postretirement
Liability Adjustment |
|
Foreign
Currency Translation Adjustment |
|
Net Unrealized
Gain (Loss) on Available-for-sale Investments |
|
Total
Accumulated Other Comprehensive Loss |
|
|||||
|
|
(In thousands)
|
||||||||||||||
|
Balance at beginning of period
|
$
|
(
|
)
|
$
|
(
|
)
|
$
|
(
|
)
|
$
|
(
|
)
|
$
|
(
|
)
|
|
Other comprehensive loss before reclassifications
|
|
|
|
|
(
|
)
|
(
|
)
|
(
|
)
|
|||||
|
Amounts reclassified from accumulated other comprehensive loss
|
|
|
|
|
|
|
|
|
|
|
|||||
|
Net current-period other comprehensive income (loss)
|
|
|
|
|
|
|
(
|
)
|
|
|
|||||
|
Reclassification adjustment of prior period tax effects related to TCJA included in accumulated other comprehensive loss
|
(
|
)
|
(
|
)
|
(
|
)
|
(
|
)
|
(
|
)
|
|||||
|
Balance at end of period
|
$
|
(
|
)
|
$
|
(
|
)
|
$
|
|
|
$
|
(
|
)
|
$
|
(
|
)
|
|
|
|
|
|
|
|
||||||||||
|
Six Months Ended June 30, 2017
|
Net Unrealized Gain (Loss) on Derivative
Instruments Qualifying as Hedges |
|
Postretirement
Liability Adjustment |
|
Foreign
Currency Translation Adjustment |
|
Net Unrealized
Gain (Loss) on Available-for-sale Investments |
|
Total
Accumulated Other Comprehensive Loss |
|
|||||
|
|
(In thousands)
|
||||||||||||||
|
Balance at beginning of period
|
$
|
(
|
)
|
$
|
(
|
)
|
$
|
(
|
)
|
$
|
(
|
)
|
$
|
(
|
)
|
|
Other comprehensive loss before reclassifications
|
|
|
|
|
(
|
)
|
(
|
)
|
(
|
)
|
|||||
|
Amounts reclassified from accumulated other comprehensive loss
|
|
|
|
|
|
|
|
|
|
|
|||||
|
Amounts reclassified to accumulated other comprehensive loss from regulatory asset
|
|
|
(
|
)
|
|
|
|
|
(
|
)
|
|||||
|
Net current-period other comprehensive income (loss)
|
|
|
(
|
)
|
(
|
)
|
|
|
(
|
)
|
|||||
|
Balance at end of period
|
$
|
(
|
)
|
$
|
(
|
)
|
$
|
(
|
)
|
$
|
(
|
)
|
$
|
(
|
)
|
|
|
Three Months Ended
|
Six Months Ended
|
Location on Consolidated Statements of
Income
|
||||||||||
|
|
June 30,
|
June 30,
|
|||||||||||
|
|
2018
|
2017
|
2018
|
2017
|
|||||||||
|
|
(In thousands)
|
|
|||||||||||
|
Reclassification adjustment for loss on derivative instruments included in net income
|
$
|
(
|
)
|
$
|
(
|
)
|
$
|
(
|
)
|
$
|
(
|
)
|
Interest expense
|
|
|
|
|
|
|
|
|
|
|
Income taxes
|
||||
|
|
(
|
)
|
(
|
)
|
(
|
)
|
(
|
)
|
|
||||
|
Amortization of postretirement liability losses included in net periodic benefit cost (credit)
|
(
|
)
|
(
|
)
|
(
|
)
|
(
|
)
|
Other income
|
||||
|
|
|
|
|
|
|
|
|
|
Income taxes
|
||||
|
|
(
|
)
|
(
|
)
|
(
|
)
|
(
|
)
|
|
||||
|
Reclassification adjustment for loss on foreign currency translation adjustment included in net income
|
(
|
)
|
|
|
(
|
)
|
|
|
Other income
|
||||
|
|
|
|
|
|
|
|
|
|
Income taxes
|
||||
|
|
(
|
)
|
|
|
(
|
)
|
|
|
|
||||
|
Reclassification adjustment for loss on available-for-sale investments included in net income
|
(
|
)
|
(
|
)
|
(
|
)
|
(
|
)
|
Other income
|
||||
|
|
|
|
|
|
|
|
|
|
Income taxes
|
||||
|
|
(
|
)
|
(
|
)
|
(
|
)
|
(
|
)
|
|
||||
|
Total reclassifications
|
$
|
(
|
)
|
$
|
(
|
)
|
$
|
(
|
)
|
$
|
(
|
)
|
|
|
Three Months Ended June 30, 2018
|
Electric
|
|
Natural gas distribution
|
|
Pipeline and midstream
|
|
Construction materials and contracting
|
|
Construction services
|
|
Other
|
|
Total
|
|
|||||||
|
|
(in thousands)
|
||||||||||||||||||||
|
Residential utility sales
|
$
|
|
|
$
|
|
|
$
|
|
|
$
|
|
|
$
|
|
|
$
|
|
|
$
|
|
|
|
Commercial utility sales
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
Industrial utility sales
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
Other utility sales
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
Natural gas transportation
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
Natural gas gathering
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
Natural gas storage
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
Contracting services
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
Construction materials
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
Intrasegment eliminations*
|
|
|
|
|
|
|
(
|
)
|
|
|
|
|
(
|
)
|
|||||||
|
Inside specialty contracting
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
Outside specialty contracting
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
Other
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
Intersegment eliminations
|
|
|
|
|
(
|
)
|
(
|
)
|
(
|
)
|
(
|
)
|
(
|
)
|
|||||||
|
Revenues from contracts with customers
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
Revenues out of scope
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
Total external operating revenues
|
$
|
|
|
$
|
|
|
$
|
|
|
$
|
|
|
$
|
|
|
$
|
|
|
$
|
|
|
|
*
|
Intrasegment revenues are presented within the construction materials and contracting segment to highlight the focus on vertical integration as this segment sells materials to both third parties and internal customers. Due to consolidation requirements, these revenues must be eliminated against construction materials to arrive at the external operating revenue total for the segment.
|
|
|
|
Six Months Ended June 30, 2018
|
Electric
|
|
Natural gas distribution
|
|
Pipeline and midstream
|
|
Construction materials and contracting
|
|
Construction services
|
|
Other
|
|
Total
|
|
|||||||
|
|
(in thousands)
|
||||||||||||||||||||
|
Residential utility sales
|
$
|
|
|
$
|
|
|
$
|
|
|
$
|
|
|
$
|
|
|
$
|
|
|
$
|
|
|
|
Commercial utility sales
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
Industrial utility sales
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
Other utility sales
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
Natural gas transportation
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
Natural gas gathering
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
Natural gas storage
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
Contracting services
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
Construction materials
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
Intrasegment eliminations*
|
|
|
|
|
|
|
(
|
)
|
|
|
|
|
(
|
)
|
|||||||
|
Inside specialty contracting
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
Outside specialty contracting
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
Other
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
Intersegment eliminations
|
|
|
|
|
(
|
)
|
(
|
)
|
(
|
)
|
(
|
)
|
(
|
)
|
|||||||
|
Revenues from contracts with customers
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
Revenues out of scope
|
(
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
Total external operating revenues
|
$
|
|
|
$
|
|
|
$
|
|
|
$
|
|
|
$
|
|
|
$
|
|
|
$
|
|
|
|
*
|
|
|
|
|
|
June 30, 2018
|
|
December 31, 2017
|
|
Change
|
|
Location on Consolidated Balance Sheets
|
|||
|
|
(In thousands)
|
|
|
|||||||
|
Contract assets
|
$
|
|
|
$
|
|
|
$
|
|
|
Receivables, net
|
|
Contract liabilities - current
|
(
|
)
|
(
|
)
|
(
|
)
|
Accounts payable
|
|||
|
Contract liabilities - noncurrent
|
(
|
)
|
|
|
(
|
)
|
Deferred credits and other liabilities - other
|
|||
|
Net contract assets
|
$
|
|
|
$
|
|
|
$
|
|
|
|
|
|
June 30, 2018
|
|
June 30, 2017
|
|
December 31, 2017
|
|
|||
|
|
(In thousands)
|
||||||||
|
Assets
|
|
|
|
||||||
|
Current assets:
|
|
|
|
||||||
|
Income taxes receivable (a)
|
$
|
|
|
$
|
|
|
$
|
|
|
|
Total current assets held for sale
|
|
|
|
|
|
|
|||
|
Total assets held for sale
|
$
|
|
|
$
|
|
|
$
|
|
|
|
Liabilities
|
|
|
|
||||||
|
Noncurrent liabilities:
|
|
|
|
||||||
|
Deferred income taxes (b)
|
$
|
|
|
$
|
|
|
$
|
|
|
|
Total noncurrent liabilities held for sale
|
|
|
|
|
|
|
|||
|
Total liabilities held for sale
|
$
|
|
|
$
|
|
|
$
|
|
|
|
(a)
|
|
|
(b)
|
|
|
|
|
|
June 30, 2018
|
|
June 30, 2017
|
|
December 31, 2017
|
|
|||
|
|
(In thousands)
|
||||||||
|
Assets
|
|
|
|
||||||
|
Current assets:
|
|
|
|
||||||
|
Receivables, net
|
$
|
|
|
$
|
|
|
$
|
|
|
|
Total current assets held for sale
|
|
|
|
|
|
|
|||
|
Noncurrent assets:
|
|
|
|
||||||
|
Net property, plant and equipment
|
|
|
|
|
|
|
|||
|
Deferred income taxes
|
|
|
|
|
|
|
|||
|
Other
|
|
|
|
|
|
|
|||
|
Total noncurrent assets held for sale
|
|
|
|
|
|
|
|||
|
Total assets held for sale
|
$
|
|
|
$
|
|
|
$
|
|
|
|
Liabilities
|
|
|
|
||||||
|
Current liabilities:
|
|
|
|
||||||
|
Accounts payable
|
$
|
|
|
$
|
|
|
$
|
|
|
|
Taxes payable
|
|
|
|
|
|
|
|||
|
Other accrued liabilities
|
|
|
|
|
|
|
|||
|
Total current liabilities held for sale
|
|
|
|
|
|
|
|||
|
Total liabilities held for sale
|
$
|
|
|
$
|
|
|
$
|
|
|
|
|
Three Months Ended
|
|
Six Months Ended
|
|
||||||||||
|
|
June 30,
|
|
June 30,
|
|
||||||||||
|
|
2018
|
|
2017
|
|
|
2018
|
|
2017
|
|
|
||||
|
|
(In thousands)
|
|
||||||||||||
|
Operating revenues
|
$
|
|
|
$
|
|
|
|
$
|
|
|
$
|
|
|
|
|
Operating expenses
|
|
|
|
|
|
|
|
(
|
)
|
|
||||
|
Operating income (loss)
|
(
|
)
|
(
|
)
|
|
(
|
)
|
|
|
|
||||
|
Other income (expense)
|
|
|
|
|
|
|
|
(
|
)
|
|
||||
|
Interest expense
|
|
|
|
|
|
|
|
|
|
|
||||
|
Income (loss) from discontinued operations before income taxes
|
(
|
)
|
(
|
)
|
|
(
|
)
|
|
|
|
||||
|
Income taxes
|
(
|
)
|
|
|
*
|
(
|
)
|
|
|
*
|
||||
|
Income (loss) from discontinued operations
|
$
|
(
|
)
|
$
|
(
|
)
|
|
$
|
|
|
$
|
(
|
)
|
|
|
*
|
Includes the eliminations for the presentation of income tax adjustments between continuing and discontinued operations.
|
|
|
|
Six Months Ended June 30, 2018
|
Balance at January 1, 2018
|
|
Goodwill Acquired
During
the Year*
|
|
Balance at June 30, 2018
|
|
|||
|
|
(In thousands)
|
||||||||
|
Natural gas distribution
|
$
|
|
|
$
|
|
|
$
|
|
|
|
Construction materials and contracting
|
|
|
|
|
|
|
|||
|
Construction services
|
|
|
|
|
|
|
|||
|
Total
|
$
|
|
|
$
|
|
|
$
|
|
|
|
*
|
|
|
|
|
Six Months Ended June 30, 2017
|
Balance at January 1, 2017
|
|
Goodwill Acquired
During
the Year
|
|
Balance at June 30, 2017
|
|
|||
|
|
(In thousands)
|
||||||||
|
Natural gas distribution
|
$
|
|
|
$
|
|
|
$
|
|
|
|
Construction materials and contracting
|
|
|
|
|
|
|
|||
|
Construction services
|
|
|
|
|
|
|
|||
|
Total
|
$
|
|
|
$
|
|
|
$
|
|
|
|
Year Ended December 31, 2017
|
Balance at January 1, 2017
|
|
Goodwill Acquired
During
the Year
|
|
Balance at December 31, 2017
|
|
|||
|
|
(In thousands)
|
||||||||
|
Natural gas distribution
|
$
|
|
|
$
|
|
|
$
|
|
|
|
Construction materials and contracting
|
|
|
|
|
|
|
|||
|
Construction services
|
|
|
|
|
|
|
|||
|
Total
|
$
|
|
|
$
|
|
|
$
|
|
|
|
|
June 30, 2018
|
|
June 30, 2017
|
|
December 31, 2017
|
|
|||
|
|
(In thousands)
|
||||||||
|
Customer relationships
|
$
|
|
|
$
|
|
|
$
|
|
|
|
Less accumulated amortization
|
|
|
|
|
|
|
|||
|
|
|
|
|
|
|
|
|||
|
Noncompete agreements
|
|
|
|
|
|
|
|||
|
Less accumulated amortization
|
|
|
|
|
|
|
|||
|
|
|
|
|
|
|
|
|||
|
Other
|
|
|
|
|
|
|
|||
|
Less accumulated amortization
|
|
|
|
|
|
|
|||
|
|
|
|
|
|
|
|
|||
|
Total
|
$
|
|
|
$
|
|
|
$
|
|
|
|
June 30, 2018
|
Cost
|
|
Gross
Unrealized
Gains
|
|
Gross
Unrealized
Losses
|
|
Fair Value
|
|
||||
|
|
(In thousands)
|
|||||||||||
|
Mortgage-backed securities
|
$
|
|
|
$
|
|
|
$
|
|
|
$
|
|
|
|
U.S. Treasury securities
|
|
|
|
|
|
|
|
|
||||
|
Total
|
$
|
|
|
$
|
|
|
$
|
|
|
$
|
|
|
|
June 30, 2017
|
Cost
|
|
Gross
Unrealized
Gains
|
|
Gross
Unrealized
Losses
|
|
Fair Value
|
|
||||
|
|
(In thousands)
|
|||||||||||
|
Mortgage-backed securities
|
$
|
|
|
$
|
|
|
$
|
|
|
$
|
|
|
|
U.S. Treasury securities
|
|
|
|
|
|
|
|
|
||||
|
Total
|
$
|
|
|
$
|
|
|
$
|
|
|
$
|
|
|
|
December 31, 2017
|
Cost
|
|
Gross
Unrealized
Gains
|
|
Gross
Unrealized
Losses
|
|
Fair Value
|
|
||||
|
|
(In thousands)
|
|||||||||||
|
Mortgage-backed securities
|
$
|
|
|
$
|
|
|
$
|
|
|
$
|
|
|
|
U.S. Treasury securities
|
|
|
|
|
|
|
|
|
||||
|
Total
|
$
|
|
|
$
|
|
|
$
|
|
|
$
|
|
|
|
|
Fair Value Measurements at June 30, 2018, Using
|
|
||||||||||
|
|
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)
|
|
Significant
Other
Observable
Inputs
(Level 2)
|
|
Significant
Unobservable
Inputs
(Level 3)
|
|
Balance at June 30, 2018
|
|
||||
|
|
(In thousands)
|
|||||||||||
|
Assets:
|
|
|
|
|
||||||||
|
Money market funds
|
$
|
|
|
$
|
|
|
$
|
|
|
$
|
|
|
|
Insurance contract*
|
|
|
|
|
|
|
|
|
||||
|
Available-for-sale securities:
|
|
|
|
|
||||||||
|
Mortgage-backed securities
|
|
|
|
|
|
|
|
|
||||
|
U.S. Treasury securities
|
|
|
|
|
|
|
|
|
||||
|
Total assets measured at fair value
|
$
|
|
|
$
|
|
|
$
|
|
|
$
|
|
|
|
*
|
|
|
|
|
|
Fair Value Measurements at June 30, 2017, Using
|
|
||||||||||
|
|
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)
|
|
Significant
Other
Observable
Inputs
(Level 2)
|
|
Significant
Unobservable
Inputs
(Level 3)
|
|
Balance at June 30, 2017
|
|
||||
|
|
(In thousands)
|
|||||||||||
|
Assets:
|
|
|
|
|
||||||||
|
Money market funds
|
$
|
|
|
$
|
|
|
$
|
|
|
$
|
|
|
|
Insurance contract*
|
|
|
|
|
|
|
|
|
||||
|
Available-for-sale securities:
|
|
|
|
|
||||||||
|
Mortgage-backed securities
|
|
|
|
|
|
|
|
|
||||
|
U.S. Treasury securities
|
|
|
|
|
|
|
|
|
||||
|
Total assets measured at fair value
|
$
|
|
|
$
|
|
|
$
|
|
|
$
|
|
|
|
*
|
|
|
|
|
|
Fair Value Measurements at December 31, 2017, Using
|
|
||||||||||
|
|
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)
|
|
Significant
Other
Observable
Inputs
(Level 2)
|
|
Significant
Unobservable
Inputs
(Level 3)
|
|
Balance at December 31, 2017
|
|
||||
|
|
(In thousands)
|
|||||||||||
|
Assets:
|
|
|
|
|
||||||||
|
Money market funds
|
$
|
|
|
$
|
|
|
$
|
|
|
$
|
|
|
|
Insurance contract*
|
|
|
|
|
|
|
|
|
||||
|
Available-for-sale securities:
|
|
|
|
|
||||||||
|
Mortgage-backed securities
|
|
|
|
|
|
|
|
|
||||
|
U.S. Treasury securities
|
|
|
|
|
|
|
|
|
||||
|
Total assets measured at fair value
|
$
|
|
|
$
|
|
|
$
|
|
|
$
|
|
|
|
*
|
|
|
|
|
|
Carrying
Amount
|
|
Fair
Value
|
|
||
|
|
(In thousands)
|
|||||
|
Long-term debt at June 30, 2018
|
$
|
|
|
$
|
|
|
|
Long-term debt at June 30, 2017
|
$
|
|
|
$
|
|
|
|
Long-term debt at December 31, 2017
|
$
|
|
|
$
|
|
|
|
|
Six Months Ended
|
|||||
|
|
June 30,
|
|||||
|
|
2018
|
|
2017
|
|
||
|
|
(In thousands)
|
|||||
|
Interest, net*
|
$
|
|
|
$
|
|
|
|
Income taxes paid, net**
|
$
|
|
|
$
|
|
|
|
*
|
|
|
**
|
|
|
|
|
|
June 30,
|
|||||
|
|
2018
|
|
2017
|
|
||
|
|
(In thousands)
|
|||||
|
Property, plant and equipment additions in accounts payable
|
$
|
|
|
$
|
|
|
|
Issuance of common stock in connection with acquisition
|
$
|
|
|
$
|
|
|
|
|
Three Months Ended
|
Six Months Ended
|
||||||||||
|
|
June 30,
|
June 30,
|
||||||||||
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
||||
|
|
(In thousands)
|
|||||||||||
|
External operating revenues:
|
|
|
|
|
||||||||
|
Regulated operations:
|
|
|
|
|
||||||||
|
Electric
|
$
|
|
|
$
|
|
|
$
|
|
|
$
|
|
|
|
Natural gas distribution
|
|
|
|
|
|
|
|
|
||||
|
Pipeline and midstream
|
|
|
|
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
|
|
||||
|
Nonregulated operations:
|
|
|
|
|
||||||||
|
Pipeline and midstream
|
|
|
|
|
|
|
|
|
||||
|
Construction materials and contracting
|
|
|
|
|
|
|
|
|
||||
|
Construction services
|
|
|
|
|
|
|
|
|
||||
|
Other
|
|
|
|
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
|
|
||||
|
Total external operating revenues
|
$
|
|
|
$
|
|
|
$
|
|
|
$
|
|
|
|
|
|
|
|
|
||||||||
|
Intersegment operating revenues:
|
|
|
|
|
|
|
|
|
||||
|
Regulated operations:
|
|
|
|
|
||||||||
|
Electric
|
$
|
|
|
$
|
|
|
$
|
|
|
$
|
|
|
|
Natural gas distribution
|
|
|
|
|
|
|
|
|
||||
|
Pipeline and midstream
|
|
|
|
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
|
|
||||
|
Nonregulated operations:
|
|
|
|
|
||||||||
|
Pipeline and midstream
|
|
|
|
|
|
|
|
|
||||
|
Construction materials and contracting
|
|
|
|
|
|
|
|
|
||||
|
Construction services
|
|
|
|
|
|
|
|
|
||||
|
Other
|
|
|
|
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
|
|
||||
|
Intersegment eliminations
|
(
|
)
|
(
|
)
|
(
|
)
|
(
|
)
|
||||
|
Total intersegment operating revenues
|
$
|
|
|
$
|
|
|
$
|
|
|
$
|
|
|
|
|
|
|
|
|
||||||||
|
|
Three Months Ended
|
Six Months Ended
|
||||||||||
|
|
June 30,
|
June 30,
|
||||||||||
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
||||
|
|
(In thousands)
|
|||||||||||
|
Earnings (loss) on common stock:
|
|
|
|
|
|
|
|
|
||||
|
Regulated operations:
|
|
|
|
|
||||||||
|
Electric
|
$
|
|
|
$
|
|
|
$
|
|
|
$
|
|
|
|
Natural gas distribution
|
(
|
)
|
(
|
)
|
|
|
|
|
||||
|
Pipeline and midstream
|
|
|
|
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
|
|
||||
|
Nonregulated operations:
|
|
|
|
|
||||||||
|
Pipeline and midstream
|
|
|
(
|
)
|
|
|
(
|
)
|
||||
|
Construction materials and contracting
|
|
|
|
|
|
|
|
|
||||
|
Construction services
|
|
|
|
|
|
|
|
|
||||
|
Other
|
(
|
)
|
(
|
)
|
(
|
)
|
(
|
)
|
||||
|
|
|
|
|
|
|
|
|
|
||||
|
Intersegment eliminations*
|
|
|
|
|
|
|
|
|
||||
|
Earnings on common stock before income (loss) from
discontinued operations
|
|
|
|
|
|
|
|
|
||||
|
Income (loss) from discontinued operations, net of tax*
|
(
|
)
|
(
|
)
|
|
|
(
|
)
|
||||
|
Total earnings on common stock
|
$
|
|
|
$
|
|
|
$
|
|
|
$
|
|
|
|
*
|
|
|
|
|
|
Pension Benefits
|
Other
Postretirement Benefits
|
||||||||||
|
Three Months Ended June 30,
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
||||
|
|
(In thousands)
|
|||||||||||
|
Components of net periodic benefit cost (credit):
|
|
|
|
|
||||||||
|
Service cost
|
$
|
|
|
$
|
|
|
$
|
|
|
$
|
|
|
|
Interest cost
|
|
|
|
|
|
|
|
|
||||
|
Expected return on assets
|
(
|
)
|
(
|
)
|
(
|
)
|
(
|
)
|
||||
|
Amortization of prior service credit
|
|
|
|
|
(
|
)
|
(
|
)
|
||||
|
Amortization of net actuarial loss
|
|
|
|
|
|
|
|
|
||||
|
Net periodic benefit cost (credit), including amount capitalized
|
(
|
)
|
|
|
(
|
)
|
(
|
)
|
||||
|
Less amount capitalized
|
|
|
|
|
|
|
(
|
)
|
||||
|
Net periodic benefit cost (credit)
|
$
|
(
|
)
|
$
|
|
|
$
|
(
|
)
|
$
|
(
|
)
|
|
|
Pension Benefits
|
Other
Postretirement Benefits
|
||||||||||
|
Six Months Ended June 30,
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
||||
|
|
(In thousands)
|
|||||||||||
|
Components of net periodic benefit cost (credit):
|
|
|
|
|
||||||||
|
Service cost
|
$
|
|
|
$
|
|
|
$
|
|
|
$
|
|
|
|
Interest cost
|
|
|
|
|
|
|
|
|
||||
|
Expected return on assets
|
(
|
)
|
(
|
)
|
(
|
)
|
(
|
)
|
||||
|
Amortization of prior service credit
|
|
|
|
|
(
|
)
|
(
|
)
|
||||
|
Amortization of net actuarial loss
|
|
|
|
|
|
|
|
|
||||
|
Net periodic benefit cost (credit), including amount capitalized
|
|
|
|
|
(
|
)
|
(
|
)
|
||||
|
Less amount capitalized
|
|
|
|
|
|
|
(
|
)
|
||||
|
Net periodic benefit cost (credit)
|
$
|
|
|
$
|
|
|
$
|
(
|
)
|
$
|
(
|
)
|
|
|
Three Months Ended
|
Six Months Ended
|
||||||||||
|
|
June 30,
|
June 30,
|
||||||||||
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
||||
|
|
(In millions, except per share amounts)
|
|||||||||||
|
Electric
|
$
|
9.1
|
|
$
|
7.8
|
|
$
|
22.2
|
|
$
|
22.2
|
|
|
Natural gas distribution
|
(6.8
|
)
|
(2.8
|
)
|
25.8
|
|
25.1
|
|
||||
|
Pipeline and midstream
|
5.7
|
|
5.3
|
|
11.0
|
|
9.2
|
|
||||
|
Construction materials and contracting
|
24.3
|
|
21.2
|
|
.8
|
|
1.3
|
|
||||
|
Construction services
|
14.1
|
|
12.4
|
|
29.2
|
|
19.7
|
|
||||
|
Other
|
(2.3
|
)
|
(2.2
|
)
|
(3.0
|
)
|
(2.5
|
)
|
||||
|
Intersegment eliminations
|
—
|
|
2.1
|
|
—
|
|
4.3
|
|
||||
|
Earnings before discontinued operations
|
44.1
|
|
43.8
|
|
86.0
|
|
79.3
|
|
||||
|
Income (loss) from discontinued operations, net of tax
|
(.3
|
)
|
(3.2
|
)
|
.2
|
|
(1.5
|
)
|
||||
|
Earnings on common stock
|
$
|
43.8
|
|
$
|
40.6
|
|
$
|
86.2
|
|
$
|
77.8
|
|
|
Earnings per common share - basic:
|
|
|
|
|
|
|
|
|
||||
|
Earnings before discontinued operations
|
$
|
.22
|
|
$
|
.22
|
|
$
|
.44
|
|
$
|
.41
|
|
|
Discontinued operations, net of tax
|
—
|
|
(.01
|
)
|
—
|
|
(.01
|
)
|
||||
|
Earnings per common share - basic
|
$
|
.22
|
|
$
|
.21
|
|
$
|
.44
|
|
$
|
.40
|
|
|
Earnings per common share - diluted:
|
|
|
|
|
|
|
|
|
||||
|
Earnings before discontinued operations
|
$
|
.22
|
|
$
|
.22
|
|
$
|
.44
|
|
$
|
.40
|
|
|
Discontinued operations, net of tax
|
—
|
|
(.01
|
)
|
—
|
|
—
|
|
||||
|
Earnings per common share - diluted
|
$
|
.22
|
|
$
|
.21
|
|
$
|
.44
|
|
$
|
.40
|
|
|
|
Three Months Ended
|
Six Months Ended
|
||||||||||
|
|
June 30,
|
June 30,
|
||||||||||
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
||||
|
|
(Dollars in millions, where applicable)
|
|||||||||||
|
Operating revenues
|
$
|
78.5
|
|
$
|
74.6
|
|
$
|
165.9
|
|
$
|
162.8
|
|
|
Electric fuel and purchased power
|
18.0
|
|
16.8
|
|
40.5
|
|
38.6
|
|
||||
|
Taxes, other than income
|
.2
|
|
.2
|
|
.4
|
|
.4
|
|
||||
|
Adjusted gross margin
|
60.3
|
|
57.6
|
|
125.0
|
|
123.8
|
|
||||
|
Operating expenses:
|
|
|
|
|
|
|
||||||
|
Operation and maintenance
|
31.1
|
|
29.3
|
|
61.2
|
|
57.9
|
|
||||
|
Depreciation, depletion and amortization
|
12.5
|
|
11.4
|
|
25.1
|
|
23.4
|
|
||||
|
Taxes, other than income
|
3.7
|
|
3.7
|
|
7.5
|
|
7.0
|
|
||||
|
Total operating expenses
|
47.3
|
|
44.4
|
|
93.8
|
|
88.3
|
|
||||
|
Operating income
|
13.0
|
|
13.2
|
|
31.2
|
|
35.5
|
|
||||
|
Other income
|
.9
|
|
.6
|
|
1.3
|
|
1.3
|
|
||||
|
Interest expense
|
6.5
|
|
6.5
|
|
13.1
|
|
12.6
|
|
||||
|
Income before income taxes
|
7.4
|
|
7.3
|
|
19.4
|
|
24.2
|
|
||||
|
Income taxes
|
(1.7
|
)
|
(1.0
|
)
|
(2.8
|
)
|
1.4
|
|
||||
|
Net income
|
9.1
|
|
8.3
|
|
22.2
|
|
22.8
|
|
||||
|
Loss/dividends on preferred stock
|
—
|
|
.5
|
|
—
|
|
.6
|
|
||||
|
Earnings
|
$
|
9.1
|
|
$
|
7.8
|
|
$
|
22.2
|
|
$
|
22.2
|
|
|
Retail sales (million kWh):
|
|
|
|
|
||||||||
|
Residential
|
246.1
|
|
225.7
|
|
620.1
|
|
581.5
|
|
||||
|
Commercial
|
355.1
|
|
348.0
|
|
757.4
|
|
744.9
|
|
||||
|
Industrial
|
131.5
|
|
120.4
|
|
273.9
|
|
262.3
|
|
||||
|
Other
|
23.4
|
|
24.8
|
|
46.0
|
|
47.2
|
|
||||
|
|
756.1
|
|
718.9
|
|
1,697.4
|
|
1,635.9
|
|
||||
|
Average cost of electric fuel and purchased power per kWh
|
$
|
.022
|
|
$
|
.021
|
|
$
|
.022
|
|
$
|
.022
|
|
|
|
Three Months Ended
|
Six Months Ended
|
||||||||||
|
|
June 30,
|
June 30,
|
||||||||||
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
||||
|
|
(Dollars in millions, where applicable)
|
|||||||||||
|
Operating revenues
|
$
|
129.5
|
|
$
|
131.6
|
|
$
|
462.2
|
|
$
|
474.1
|
|
|
Purchased natural gas sold
|
62.7
|
|
64.1
|
|
266.4
|
|
278.5
|
|
||||
|
Taxes, other than income
|
5.6
|
|
5.3
|
|
17.8
|
|
18.9
|
|
||||
|
Adjusted gross margin
|
61.2
|
|
62.2
|
|
178.0
|
|
176.7
|
|
||||
|
Operating expenses:
|
|
|
|
|
|
|
|
|||||
|
Operation and maintenance
|
42.5
|
|
39.0
|
|
87.2
|
|
80.0
|
|
||||
|
Depreciation, depletion and amortization
|
17.7
|
|
17.2
|
|
35.4
|
|
34.2
|
|
||||
|
Taxes, other than income
|
5.4
|
|
5.1
|
|
11.2
|
|
10.2
|
|
||||
|
Total operating expenses
|
65.6
|
|
61.3
|
|
133.8
|
|
124.4
|
|
||||
|
Operating income (loss)
|
(4.4
|
)
|
.9
|
|
44.2
|
|
52.3
|
|
||||
|
Other income
|
.9
|
|
.5
|
|
1.3
|
|
.9
|
|
||||
|
Interest expense
|
7.3
|
|
7.5
|
|
14.9
|
|
15.3
|
|
||||
|
Income (loss) before income taxes
|
(10.8
|
)
|
(6.1
|
)
|
30.6
|
|
37.9
|
|
||||
|
Income taxes
|
(4.0
|
)
|
(3.4
|
)
|
4.8
|
|
12.7
|
|
||||
|
Net income (loss)
|
(6.8
|
)
|
(2.7
|
)
|
25.8
|
|
25.2
|
|
||||
|
Loss/dividends on preferred stock
|
—
|
|
.1
|
|
—
|
|
.1
|
|
||||
|
Earnings (loss)
|
$
|
(6.8
|
)
|
$
|
(2.8
|
)
|
$
|
25.8
|
|
$
|
25.1
|
|
|
Volumes (MMdk)
|
|
|
|
|
|
|
||||||
|
Retail sales:
|
|
|
|
|
||||||||
|
Residential
|
8.3
|
|
8.3
|
|
36.4
|
|
36.5
|
|
||||
|
Commercial
|
6.3
|
|
6.0
|
|
25.0
|
|
25.1
|
|
||||
|
Industrial
|
1.0
|
|
1.0
|
|
2.4
|
|
2.5
|
|
||||
|
|
15.6
|
|
15.3
|
|
63.8
|
|
64.1
|
|
||||
|
Transportation sales:
|
|
|
|
|
||||||||
|
Commercial
|
.4
|
|
.4
|
|
1.1
|
|
1.1
|
|
||||
|
Industrial
|
29.4
|
|
28.2
|
|
66.2
|
|
66.2
|
|
||||
|
|
29.8
|
|
28.6
|
|
67.3
|
|
67.3
|
|
||||
|
Total throughput
|
45.4
|
|
43.9
|
|
131.1
|
|
131.4
|
|
||||
|
Average cost of natural gas, including transportation, per dk
|
$
|
4.01
|
|
$
|
4.17
|
|
$
|
4.18
|
|
$
|
4.35
|
|
|
|
Three Months Ended
|
Six Months Ended
|
||||||||||
|
|
June 30,
|
June 30,
|
||||||||||
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
||||
|
|
(Dollars in millions)
|
|||||||||||
|
Operating revenues
|
$
|
30.6
|
|
$
|
30.2
|
|
$
|
61.2
|
|
$
|
58.3
|
|
|
Operating expenses:
|
|
|
|
|
||||||||
|
Operation and maintenance
|
14.6
|
|
13.9
|
|
29.7
|
|
27.7
|
|
||||
|
Depreciation, depletion and amortization
|
4.4
|
|
4.1
|
|
8.7
|
|
8.2
|
|
||||
|
Taxes, other than income
|
3.1
|
|
3.1
|
|
6.2
|
|
6.1
|
|
||||
|
Total operating expenses
|
22.1
|
|
21.1
|
|
44.6
|
|
42.0
|
|
||||
|
Operating income
|
8.5
|
|
9.1
|
|
16.6
|
|
16.3
|
|
||||
|
Other income
|
.4
|
|
.5
|
|
.5
|
|
.9
|
|
||||
|
Interest expense
|
1.3
|
|
1.3
|
|
2.5
|
|
2.5
|
|
||||
|
Income before income taxes
|
7.6
|
|
8.3
|
|
14.6
|
|
14.7
|
|
||||
|
Income taxes
|
1.9
|
|
3.0
|
|
3.6
|
|
5.5
|
|
||||
|
Earnings
|
$
|
5.7
|
|
$
|
5.3
|
|
$
|
11.0
|
|
$
|
9.2
|
|
|
Transportation volumes (MMdk)
|
88.2
|
|
79.5
|
|
166.5
|
|
146.5
|
|
||||
|
Natural gas gathering volumes (MMdk)
|
3.7
|
|
4.1
|
|
7.4
|
|
8.0
|
|
||||
|
Customer natural gas storage balance (MMdk):
|
|
|
|
|
||||||||
|
Beginning of period
|
7.7
|
|
15.0
|
|
22.4
|
|
26.4
|
|
||||
|
Net injection (withdrawal)
|
8.5
|
|
10.1
|
|
(6.2
|
)
|
(1.3
|
)
|
||||
|
End of period
|
16.2
|
|
25.1
|
|
16.2
|
|
25.1
|
|
||||
|
|
Three Months Ended
|
Six Months Ended
|
||||||||||
|
|
June 30,
|
June 30,
|
||||||||||
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
||||
|
|
(Dollars in millions)
|
|||||||||||
|
Operating revenues
|
$
|
509.6
|
|
$
|
501.6
|
|
$
|
723.0
|
|
$
|
702.5
|
|
|
Cost of sales:
|
|
|
|
|
||||||||
|
Operation and maintenance
|
426.0
|
|
418.1
|
|
624.9
|
|
606.4
|
|
||||
|
Depreciation, depletion and amortization
|
14.0
|
|
13.5
|
|
27.0
|
|
26.2
|
|
||||
|
Taxes, other than income
|
11.2
|
|
11.2
|
|
19.0
|
|
18.4
|
|
||||
|
Total cost of sales
|
451.2
|
|
442.8
|
|
670.9
|
|
651.0
|
|
||||
|
Gross margin
|
58.4
|
|
58.8
|
|
52.1
|
|
51.5
|
|
||||
|
Selling, general and administrative expense:
|
|
|
|
|
||||||||
|
Operation and maintenance
|
19.6
|
|
19.2
|
|
37.2
|
|
37.0
|
|
||||
|
Depreciation, depletion and amortization
|
.5
|
|
.9
|
|
1.2
|
|
1.9
|
|
||||
|
Taxes, other than income
|
1.0
|
|
.8
|
|
2.7
|
|
2.5
|
|
||||
|
Total selling, general and administrative expense
|
21.1
|
|
20.9
|
|
41.1
|
|
41.4
|
|
||||
|
Operating income
|
37.3
|
|
37.9
|
|
11.0
|
|
10.1
|
|
||||
|
Other income (expense)
|
(.1
|
)
|
—
|
|
(.8
|
)
|
.2
|
|
||||
|
Interest expense
|
4.5
|
|
3.9
|
|
8.1
|
|
7.5
|
|
||||
|
Income before income taxes
|
32.7
|
|
34.0
|
|
2.1
|
|
2.8
|
|
||||
|
Income taxes
|
8.4
|
|
12.8
|
|
1.3
|
|
1.5
|
|
||||
|
Earnings
|
$
|
24.3
|
|
$
|
21.2
|
|
$
|
.8
|
|
$
|
1.3
|
|
|
Sales (000's):
|
|
|
|
|
|
|
|
|
||||
|
Aggregates (tons)
|
7,647
|
|
7,374
|
|
11,494
|
|
10,879
|
|
||||
|
Asphalt (tons)
|
1,975
|
|
1,830
|
|
2,201
|
|
2,045
|
|
||||
|
Ready-mixed concrete (cubic yards)
|
948
|
|
1,037
|
|
1,520
|
|
1,599
|
|
||||
|
|
Three Months Ended
|
Six Months Ended
|
||||||||||
|
|
June 30,
|
June 30,
|
||||||||||
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
||||
|
|
(In millions)
|
|||||||||||
|
Operating revenues
|
$
|
323.6
|
|
$
|
336.3
|
|
$
|
657.6
|
|
$
|
635.9
|
|
|
Cost of sales:
|
|
|
|
|
||||||||
|
Operation and maintenance
|
270.7
|
|
283.8
|
|
548.7
|
|
537.5
|
|
||||
|
Depreciation, depletion and amortization
|
3.6
|
|
3.6
|
|
7.1
|
|
7.2
|
|
||||
|
Taxes, other than income
|
9.5
|
|
10.6
|
|
22.3
|
|
22.6
|
|
||||
|
Total cost of sales
|
283.8
|
|
298.0
|
|
578.1
|
|
567.3
|
|
||||
|
Gross margin
|
39.8
|
|
38.3
|
|
79.5
|
|
68.6
|
|
||||
|
Selling, general and administrative expense:
|
|
|
|
|
||||||||
|
Operation and maintenance
|
19.1
|
|
16.4
|
|
36.4
|
|
32.4
|
|
||||
|
Depreciation, depletion and amortization
|
.3
|
|
.4
|
|
.7
|
|
.8
|
|
||||
|
Taxes, other than income
|
1.0
|
|
.9
|
|
2.4
|
|
2.2
|
|
||||
|
Total selling, general and administrative expense
|
20.4
|
|
17.7
|
|
39.5
|
|
35.4
|
|
||||
|
Operating income
|
19.4
|
|
20.6
|
|
40.0
|
|
33.2
|
|
||||
|
Other income
|
.3
|
|
.2
|
|
.6
|
|
.8
|
|
||||
|
Interest expense
|
.9
|
|
.9
|
|
1.8
|
|
1.8
|
|
||||
|
Income before income taxes
|
18.8
|
|
19.9
|
|
38.8
|
|
32.2
|
|
||||
|
Income taxes
|
4.7
|
|
7.5
|
|
9.6
|
|
12.5
|
|
||||
|
Earnings
|
$
|
14.1
|
|
$
|
12.4
|
|
$
|
29.2
|
|
$
|
19.7
|
|
|
|
Three Months Ended
|
|
Six Months Ended
|
|
||||||||||
|
|
June 30,
|
|
June 30,
|
|
||||||||||
|
|
2018
|
|
2017
|
|
|
2018
|
|
2017
|
|
|
||||
|
|
(In millions)
|
|
||||||||||||
|
Operating revenues
|
$
|
2.8
|
|
$
|
1.9
|
|
|
$
|
5.5
|
|
$
|
4.0
|
|
|
|
Operating expenses:
|
|
|
|
|
|
|
||||||||
|
Operation and maintenance
|
2.0
|
|
4.4
|
|
|
3.9
|
|
5.7
|
|
|
||||
|
Depreciation, depletion and amortization
|
.5
|
|
.5
|
|
|
1.1
|
|
1.1
|
|
|
||||
|
Taxes, other than income
|
.1
|
|
—
|
|
|
.1
|
|
.1
|
|
|
||||
|
Total operating expenses
|
2.6
|
|
4.9
|
|
|
5.1
|
|
6.9
|
|
|
||||
|
Operating income (loss)
|
.2
|
|
(3.0
|
)
|
|
.4
|
|
(2.9
|
)
|
|
||||
|
Other income (expense)
|
(.3
|
)
|
.2
|
|
|
.1
|
|
.4
|
|
|
||||
|
Interest expense
|
.8
|
|
.9
|
|
|
1.7
|
|
1.8
|
|
|
||||
|
Income (loss) before income taxes
|
(.9
|
)
|
(3.7
|
)
|
|
(1.2
|
)
|
(4.3
|
)
|
|
||||
|
Income taxes
|
1.4
|
|
(1.5
|
)
|
|
1.8
|
|
(1.8
|
)
|
|
||||
|
Loss
|
$
|
(2.3
|
)
|
$
|
(2.2
|
)
|
|
$
|
(3.0
|
)
|
$
|
(2.5
|
)
|
|
|
|
Three Months Ended
|
|
Six Months Ended
|
|
||||||||||
|
|
June 30,
|
|
June 30,
|
|
||||||||||
|
|
2018
|
|
2017
|
|
|
2018
|
|
2017
|
|
|
||||
|
|
(In millions)
|
|
||||||||||||
|
Income (loss) from discontinued operations before intercompany eliminations, net of tax
|
$
|
(.3
|
)
|
$
|
(1.1
|
)
|
|
$
|
.2
|
|
$
|
2.8
|
|
|
|
Intercompany eliminations
|
—
|
|
(2.1
|
)
|
*
|
—
|
|
(4.3
|
)
|
*
|
||||
|
Income (loss) from discontinued operations, net of tax
|
$
|
(.3
|
)
|
$
|
(3.2
|
)
|
|
$
|
.2
|
|
$
|
(1.5
|
)
|
|
|
|
|
|
Three Months Ended
|
|
Six Months Ended
|
|
||||||||||
|
|
June 30,
|
|
June 30,
|
|
||||||||||
|
|
2018
|
|
2017
|
|
|
2018
|
|
2017
|
|
|
||||
|
|
(In millions)
|
|
||||||||||||
|
Intersegment transactions:
|
|
|
|
|
|
|
|
|
||||||
|
Operating revenues
|
$
|
10.0
|
|
$
|
8.6
|
|
|
$
|
34.5
|
|
$
|
32.0
|
|
|
|
Operation and maintenance
|
3.5
|
|
2.2
|
|
|
6.3
|
|
4.1
|
|
|
||||
|
Purchased natural gas sold
|
6.5
|
|
6.4
|
|
|
28.2
|
|
27.9
|
|
|
||||
|
Income from continuing operations
|
—
|
|
(2.1
|
)
|
*
|
—
|
|
(4.3
|
)
|
*
|
||||
|
|
|
Company
|
|
Facility
|
|
Facility
Limit
|
|
|
Amount Outstanding
|
|
|
Letters
of Credit
|
|
|
Expiration
Date
|
|||
|
|
|
|
|
(In millions)
|
|
|
|
|
||||||||
|
MDU Resources Group, Inc.
|
|
Commercial paper/Revolving credit agreement
|
(a)
|
$
|
175.0
|
|
|
$
|
47.1
|
|
(b)
|
$
|
—
|
|
|
6/8/23
|
|
Cascade Natural Gas Corporation
|
|
Revolving credit agreement
|
|
$
|
75.0
|
|
(c)
|
$
|
4.6
|
|
|
$
|
2.2
|
|
(d)
|
4/24/20
|
|
Intermountain Gas Company
|
|
Revolving credit agreement
|
|
$
|
85.0
|
|
(e)
|
$
|
16.0
|
|
|
$
|
—
|
|
|
4/24/20
|
|
Centennial Energy Holdings, Inc.
|
|
Commercial paper/Revolving credit agreement
|
(f)
|
$
|
500.0
|
|
|
$
|
216.2
|
|
(b)
|
$
|
—
|
|
|
9/23/21
|
|
(a)
|
The commercial paper program is supported by a revolving credit agreement with various banks (provisions allow for increased borrowings, at the option of the Company on stated conditions, up to a maximum of $225.0 million). There were no amounts outstanding under the credit agreement.
|
|
(b)
|
Amount outstanding under commercial paper program.
|
|
(c)
|
Certain provisions allow for increased borrowings, up to a maximum of $100.0 million.
|
|
(d)
|
Outstanding letter(s) of credit reduce the amount available under the credit agreement.
|
|
(e)
|
Certain provisions allow for increased borrowings, up to a maximum of $110.0 million.
|
|
(f)
|
The commercial paper program is supported by a revolving credit agreement with various banks (provisions allow for increased borrowings, at the option of Centennial on stated conditions, up to a maximum of $600.0 million). There were no amounts outstanding under the credit agreement.
|
|
|
|
Period
|
(a)
Total Number
of Shares
(or Units)
Purchased (1)
|
|
(b)
Average Price Paid per Share
(or Unit)
|
|
(c)
Total Number of Shares
(or Units) Purchased
as Part of Publicly
Announced Plans
or Programs (2)
|
|
(d)
Maximum Number (or
Approximate Dollar
Value) of Shares (or
Units) that May Yet Be
Purchased Under the
Plans or Programs (2)
|
|
|
April 1 through April 30, 2018
|
—
|
|
—
|
|
—
|
|
—
|
|
|
May 1 through May 31, 2018
|
—
|
|
—
|
|
—
|
|
—
|
|
|
June 1 through June 30, 2018
|
—
|
|
—
|
|
—
|
|
—
|
|
|
Total
|
—
|
|
|
—
|
|
—
|
|
|
|
(1)
|
Represents shares of common stock purchased on the open market in connection with the vesting of shares granted pursuant to the Long-Term Performance-Based Incentive Plan.
|
|
(2)
|
Not applicable. The Company does not currently have in place any publicly announced plans or programs to purchase equity securities.
|
|
|
|
|
|
|
Incorporated by Reference
|
||||
|
Exhibit Number
|
Exhibit Description
|
Filed Herewith
|
Form
|
Period Ended
|
Exhibit
|
Filing Date
|
File Number
|
|
|
|
|
|
|
|
|
|
|
4(a)
|
X
|
|
|
|
|
|
|
|
12
|
X
|
|
|
|
|
|
|
|
31(a)
|
X
|
|
|
|
|
|
|
|
31(b)
|
X
|
|
|
|
|
|
|
|
32
|
X
|
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95
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X
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101.INS
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XBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document
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101.SCH
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XBRL Taxonomy Extension Schema Document
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101.CAL
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XBRL Taxonomy Extension Calculation Linkbase Document
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101.DEF
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XBRL Taxonomy Extension Definition Linkbase Document
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101.LAB
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XBRL Taxonomy Extension Label Linkbase Document
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101.PRE
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XBRL Taxonomy Extension Presentation Linkbase Document
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MDU Resources Group, Inc. agrees to furnish to the SEC upon request any instrument with respect to long-term debt that MDU Resources Group, Inc. has not filed as an exhibit pursuant to the exemption provided by Item 601(b)(4)(iii)(A) of Regulation S-K.
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MDU RESOURCES GROUP, INC.
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DATE:
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August 3, 2018
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BY:
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/s/ Jason L. Vollmer
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Jason L. Vollmer
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Vice President, Chief Financial Officer
and Treasurer |
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BY:
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/s/ Stephanie A. Barth
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Stephanie A. Barth
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Vice President, Chief Accounting Officer
and Controller |
No information found
* THE VALUE IS THE MARKET VALUE AS OF THE LAST DAY OF THE QUARTER FOR WHICH THE 13F WAS FILED.
| FUND | NUMBER OF SHARES | VALUE ($) | PUT OR CALL |
|---|
| DIRECTORS | AGE | BIO | OTHER DIRECTOR MEMBERSHIPS |
|---|
No information found
No Customers Found
Suppliers
Price
Yield
| Owner | Position | Direct Shares | Indirect Shares |
|---|