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Midas Edge

NISOURCE INC

For the period ended Dec 31, 2023. Filed Feb 21, 2024.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 21, 2024

NI$45.29+0.5%Stored close · as of Nov 10, 2026

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Contents

. Asset Retirement Obligations

  1. Asset Retirement Obligations

We have recognized asset retirement obligations associated with various legal obligations including costs to remove and dispose of certain construction materials located within many of our facilities (including our JV facilities), certain costs to retire pipeline, removal costs for certain underground storage tanks, removal of certain pipelines known to contain PCB contamination, closure costs for certain sites including ash ponds, solid waste management units and a landfill, as well as some other nominal asset retirement obligations. We also have an obligation associated with the decommissioning of our two hydro facilities located in Indiana. These hydro facilities have an indeterminate life, and as such, no asset retirement obligation has been recorded.

Changes in our liability for asset retirement obligations for the years 2023 and 2022 are presented in the table below:

(in millions)20232022
Beginning Balance$513.5$512.4
Accretion recorded as a regulatory asset/liability20.017.1
Additions23.59.5
Settlements(41.6)(22.3)
Change in estimated cash flows37.6(3.2)
Ending Balance$553.0$513.5

Certain non-legal costs of removal that have been, and continue to be, included in depreciation rates and collected in the customer rates of the rate-regulated subsidiaries are classified as "Regulatory liabilities" on the Consolidated Balance Sheets.

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.