NISOURCE INC
For the period ended Dec 31, 2023. Filed Feb 21, 2024.
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FY2023 · Filed Feb 21, 2024
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Item 8. Consolidated Balance Sheets
| (in millions) | December 31, 2023 | December 31, 2022 |
|---|---|---|
| ASSETS | ||
| Property, Plant and Equipment | ||
| Plant | $30,482.1 | $27,551.3 |
| Accumulated depreciation and amortization | (8,207.2) | (7,708.7) |
| Net Property, Plant and Equipment(1) | 22,274.9 | 19,842.6 |
| Investments and Other Assets | ||
| Unconsolidated affiliates | 5.3 | 1.6 |
| Available-for-sale debt securities (amortized cost of $169.0 and $166.7, allowance for credit losses of $0.6 and $0.9, respectively) | 159.1 | 151.6 |
| Other investments | 82.7 | 71.0 |
| Total Investments and Other Assets | 247.1 | 224.2 |
| Current Assets | ||
| Cash and cash equivalents | 2,245.4 | 40.8 |
| Restricted cash | 35.7 | 34.6 |
| Accounts receivable | 884.9 | 1,065.8 |
| Allowance for credit losses | (22.9) | (23.9) |
| Accounts receivable, net | 862.0 | 1,041.9 |
| Gas storage | 265.8 | 531.7 |
| Materials and supplies, at average cost | 172.1 | 151.4 |
| Electric production fuel, at average cost | 65.3 | 68.8 |
| Exchange gas receivable | 66.0 | 128.1 |
| Regulatory assets | 214.3 | 233.2 |
| Deposits to renewable generation asset developer | 454.2 | 143.8 |
| Prepayments and other | 118.6 | 210.0 |
| Total Current Assets(1) | 4,499.4 | 2,584.3 |
| Other Assets | ||
| Regulatory assets | 2,245.9 | 2,347.6 |
| Goodwill | 1,485.9 | 1,485.9 |
| Deferred charges and other | 324.0 | 252.0 |
| Total Other Assets | 4,055.8 | 4,085.5 |
| Total Assets | $31,077.2 | $26,736.6 |
(1)Includes $1,369.8 million and $978.5 million in 2023 and 2022, respectively, of net property, plant and equipment assets and $63.6 million and $25.7 million in 2023 and 2022, respectively, of current assets of consolidated VIEs that may be used only to settle obligations of the consolidated VIEs. Refer to Note 4, "Noncontrolling Interest," for additional information.
| (in millions, except share amounts) | December 31, 2023 | December 31, 2022 |
|---|---|---|
| CAPITALIZATION AND LIABILITIES | ||
| Capitalization | ||
| Stockholders’ Equity | ||
| Common stock - $0.01 par value, 750,000,000 shares authorized; 447,381,671 and 412,142,602 shares outstanding, respectively | $4.5 | $4.2 |
| Preferred stock - $0.01 par value, 20,000,000 shares authorized; 40,000 and 1,302,500 shares outstanding, respectively | 486.1 | 1,546.5 |
| Treasury stock | (99.9) | (99.9) |
| Additional paid-in capital | 8,879.5 | 7,375.3 |
| Retained deficit | (967.0) | (1,213.6) |
| Accumulated other comprehensive loss | (33.6) | (37.1) |
| Total NiSource Stockholders' Equity | 8,269.6 | 7,575.4 |
| Noncontrolling interest in consolidated subsidiaries | 1,866.7 | 326.4 |
| Total Stockholders’ Equity | 10,136.3 | 7,901.8 |
| Long-term debt, excluding amounts due within one year | 11,055.5 | 9,523.6 |
| Total Capitalization | 21,191.8 | 17,425.4 |
| Current Liabilities | ||
| Current portion of long-term debt | 23.8 | 30.0 |
| Short-term borrowings | 3,048.6 | 1,761.9 |
| Accounts payable | 749.4 | 899.5 |
| Customer deposits and credits | 294.4 | 324.7 |
| Taxes accrued | 166.2 | 246.2 |
| Interest accrued | 136.1 | 138.4 |
| Asset retirement obligations | 72.5 | 35.5 |
| Exchange gas payable | 50.5 | 147.6 |
| Regulatory liabilities | 278.6 | 236.8 |
| Accrued compensation and employee benefits | 227.6 | 167.5 |
| Obligations to renewable generation asset developer | — | 347.2 |
| Other accruals | 217.4 | 325.2 |
| Total Current Liabilities(1) | 5,265.1 | 4,660.5 |
| Other Liabilities | ||
| Deferred income taxes | 2,080.4 | 1,854.5 |
| Accrued liability for postretirement and postemployment benefits | 250.1 | 245.5 |
| Regulatory liabilities | 1,510.7 | 1,775.8 |
| Asset retirement obligations | 480.5 | 478.1 |
| Other noncurrent liabilities and deferred credits | 298.6 | 296.8 |
| Total Other Liabilities(1) | 4,620.3 | 4,650.7 |
| Commitments and Contingencies (Refer to Note 19, "Other Commitments and Contingencies") | ||
| Total Capitalization and Liabilities | $31,077.2 | $26,736.6 |
(1)Includes $68.3 million and $128.2 million in 2023 and 2022, respectively, of current liabilities and $55.7 million and $30.6 million in 2023 and 2022, respectively, of other liabilities of consolidated VIEs that creditors do not have recourse to our general credit. Refer to Note 4, "Noncontrolling Interest," for additional information.
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