NISOURCE INC
For the period ended Sep 30, 2024. Filed Oct 30, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Oct 30, 2024
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Item 1. Condensed Consolidated Balance Sheets (unaudited)
Condensed Consolidated Balance Sheets (unaudited)
| (in millions) | September 30,2024 | December 31,2023 |
|---|---|---|
| ASSETS | ||
| Property, Plant and Equipment | ||
| Plant | $33,453.8 | $30,482.1 |
| Accumulated depreciation and amortization | (8,572.4) | (8,207.2) |
| Net Property, Plant and Equipment(1) | 24,881.4 | 22,274.9 |
| Investments and Other Assets | ||
| Unconsolidated affiliates | 6.5 | 5.3 |
| Available-for-sale debt securities (amortized cost of $143.5 and $169.0, allowance for credit losses of $0.2 and $0.6, respectively) | 137.9 | 159.1 |
| Other investments | 89.0 | 82.7 |
| Total Investments and Other Assets | 233.4 | 247.1 |
| Current Assets | ||
| Cash and cash equivalents | 126.2 | 2,245.4 |
| Restricted cash | 32.6 | 35.7 |
| Accounts receivable | 589.7 | 884.9 |
| Allowance for credit losses | (17.7) | (22.9) |
| Accounts receivable, net | 572.0 | 862.0 |
| Gas storage | 189.3 | 265.8 |
| Materials and supplies, at average cost | 167.1 | 172.1 |
| Electric production fuel, at average cost | 34.9 | 65.3 |
| Exchange gas receivable | 22.5 | 66.0 |
| Regulatory assets | 329.7 | 214.3 |
| Deposits to renewable generation asset developer | — | 454.2 |
| Prepayments and other | 141.7 | 118.6 |
| Total Current Assets(1) | 1,616.0 | 4,499.4 |
| Other Assets | ||
| Regulatory assets | 2,208.3 | 2,245.9 |
| Goodwill | 1,485.9 | 1,485.9 |
| Deferred charges and other | 403.1 | 324.0 |
| Total Other Assets | 4,097.3 | 4,055.8 |
| Total Assets | $30,828.1 | $31,077.2 |
(1)Includes $1,335.3 million and $1,369.8 million at September 30, 2024 and December 31, 2023, respectively, of net property, plant and equipment assets and $52.9 million and $63.6 million at September 30, 2024 and December 31, 2023, respectively, of current assets of consolidated VIEs that may be used only to settle obligations of the consolidated VIEs. Refer to Note 4, "Noncontrolling Interests," for additional information.
Condensed Consolidated Balance Sheets (unaudited) (continued)
| (in millions, except share amounts) | September 30,2024 | December 31,2023 |
|---|---|---|
| CAPITALIZATION AND LIABILITIES | ||
| Capitalization | ||
| Stockholders’ Equity | ||
| Common stock - $0.01 par value,750,000,000 shares authorized; 466,707,452 and 447,381,671 shares outstanding, respectively | $4.7 | $4.5 |
| Preferred stock - $0.01 par value, 20,000,000 shares authorized; 0 and 40,000 shares outstanding, respectively | — | 486.1 |
| Treasury stock | (99.9) | (99.9) |
| Additional paid-in capital | 9,404.7 | 8,879.5 |
| Retained deficit | (934.9) | (967.0) |
| Accumulated other comprehensive loss | (29.6) | (33.6) |
| Total NiSource Stockholders’ Equity | 8,345.0 | 8,269.6 |
| Noncontrolling interest in consolidated subsidiaries | 1,983.8 | 1,866.7 |
| Total Stockholders' Equity | 10,328.8 | 10,136.3 |
| Long-term debt, excluding amounts due within one year | 12,086.3 | 11,055.5 |
| Total Capitalization | 22,415.1 | 21,191.8 |
| Current Liabilities | ||
| Current portion of long-term debt | 1,271.2 | 23.8 |
| Short-term borrowings | 257.0 | 3,048.6 |
| Accounts payable | 614.6 | 749.4 |
| Dividends payable - common stock | 125.3 | — |
| Customer deposits and credits | 261.6 | 294.4 |
| Taxes accrued | 134.7 | 166.2 |
| Interest accrued | 147.4 | 136.1 |
| Exchange gas payable | 56.1 | 50.5 |
| Regulatory liabilities | 151.7 | 278.6 |
| Asset retirement obligations | 74.9 | 72.5 |
| Accrued compensation and employee benefits | 239.3 | 227.6 |
| Other accruals | 151.7 | 217.4 |
| Total Current Liabilities(1) | 3,485.5 | 5,265.1 |
| Other Liabilities | ||
| Deferred income taxes | 2,206.7 | 2,080.4 |
| Accrued liability for postretirement and postemployment benefits | 238.4 | 250.1 |
| Regulatory liabilities | 1,437.6 | 1,510.7 |
| Asset retirement obligations | 733.0 | 480.5 |
| Other noncurrent liabilities and deferred credits | 311.8 | 298.6 |
| Total Other Liabilities(1) | 4,927.5 | 4,620.3 |
| Commitments and Contingencies (Refer to Note 15, "Other Commitments and Contingencies") | ||
| Total Capitalization and Liabilities | $30,828.1 | $31,077.2 |
(1)Includes $50.5 million and $68.3 million at September 30, 2024 and December 31, 2023, respectively, of current liabilities and $57.7 million and $55.7 million at September 30, 2024 and December 31, 2023, respectively, of other liabilities of consolidated VIEs that creditors do not have recourse to our general credit. Refer to Note 4, "Noncontrolling Interests," for additional information.
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