NISOURCE INC

For the period ended Dec 31, 2024. Filed Feb 12, 2025.

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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.

FY2024 · Filed Feb 12, 2025

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

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Contents

Statements of Consolidated Cash Flows

Year Ended December 31, (in millions)	2024	2023	2022
Operating Activities
Net Income	$844.7	$674.4	$791.8
Adjustments to Reconcile Net Income to Net Cash from Operating Activities:
Depreciation and amortization	1,043.2	908.2	820.8
Deferred income taxes	168.0	134.1	156.9
Stock compensation expense and 401(k) profit sharing contribution	43.6	33.5	24.9
Loss (gain) on sale of assets	2.9	2.9	(105.3)
Payments for assets retirement obligations	(72.5)	(41.6)	(22.3)
Other adjustments	(52.8)	(17.9)	5.7
Changes in Assets and Liabilities:
Accounts receivable	(101.5)	184.1	(216.3)
Gas storage and other inventories	102.0	233.9	(258.9)
Accounts payable	71.5	(171.8)	165.0
Exchange gas receivable/payable	(133.5)	126.5	57.8
Other accruals	9.5	(102.9)	73.4
Prepayments and other current assets	(75.9)	36.7	(9.8)
Regulatory assets/liabilities	(8.7)	(26.2)	(129.4)
Postretirement and postemployment benefits	(64.3)	(22.0)	84.7
Deferred charges and other noncurrent assets	(20.8)	(10.1)	(4.1)
Other noncurrent liabilities and deferred credits	26.1	(6.7)	(25.5)
Net Cash Flows from Operating Activities	1,781.5	1,935.1	1,409.4
Investing Activities
Capital expenditures	(2,614.0)	(2,645.8)	(2,203.1)
Insurance recoveries	0.8	3.0	105.0
Cost of removal	(166.8)	(160.8)	(151.7)
Purchases of available-for-sale securities	(17.8)	(42.8)	(73.5)
Sales of available-for-sale securities	93.2	39.9	75.7
Milestone and final payments to renewable generation asset developer	(482.0)	(761.4)	(323.9)
Advanced deposits for project costs	(29.0)	—	—
Other investing activities	2.6	(3.7)	1.3
Net Cash Flows used for Investing Activities	(3,213.0)	(3,571.6)	(2,570.2)
Financing Activities
Proceeds from issuance of long-term debt	2,229.5	1,488.7	345.6
Repayments of long-term debt and finance lease obligations	(25.6)	(33.1)	(60.3)
Repayment of short term credit agreements	(1,650.0)	—	—
Issuance of short term credit agreements	—	650.0	1,000.0
Net change in commercial paper and other short-term borrowings	(794.0)	636.4	202.2
Issuance of common stock, net of issuance costs	612.6	12.9	154.3
Redemption of preferred stock	(486.1)	(393.9)	—
Preferred stock redemption premium	(14.0)	(6.2)	—
Payment of obligation to renewable generation asset developer	—	(347.2)	—
Equity costs, premiums and other debt related costs	(67.3)	(30.2)	(13.0)
Contributions from NIPSCO minority interest holders	99.5	2,161.9	—
Distributions to NIPSCO minority interest holders	(50.3)	—	—
Contributions from tax equity partners	—	240.9	21.2
Distributions to tax equity partners	(16.1)	(14.1)	(6.0)
Dividends paid - common stock	(481.0)	(413.5)	(381.5)
Dividends paid - preferred stock	(8.2)	(43.8)	(55.1)
Contract liability payment	—	(66.6)	(66.1)
Net Cash Flows (used for) from Financing Activities	(651.0)	3,842.2	1,141.3
Change in cash, cash equivalents and restricted cash	(2,082.5)	2,205.7	(19.5)
Cash, cash equivalents and restricted cash at beginning of period	2,281.1	75.4	94.9
Cash, Cash Equivalents and Restricted Cash at End of Period	$198.6	$2,281.1	$75.4

Reconciliation to Balance Sheet	2024	2023	2022
Cash and cash equivalents	156.6	2,245.4	40.8
Restricted Cash	42.0	35.7	34.6
Total Cash, Cash Equivalents and Restricted Cash	198.6	2,281.1	75.4

ContentsView on SEC.gov

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