NISOURCE INC

For the period ended May 13, 2024. Filed Apr 1, 2024.

About this filing

What shareholders are asked to vote on at a company's meeting. It is where to find what directors and top executives are paid, and who owns the most shares.

May 13, 2024 · Filed Apr 1, 2024

NI$44.15-0.7%Stored close · as of Nov 6, 2026

See the whole filing, with its images and exhibits

Contents

Appendix AA-1

APPENDIX A TO PROXY STATEMENT

RECONCILIATION OF CONSOLIDATED NET INCOME AVAILABLE TO COMMON SHAREHOLDERS TO NET OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS

Schedule 1 - Reconciliation of Consolidated Net Income Available to Common Shareholders to Net Operating Earnings Available to Common Shareholders (Non-GAAP) (unaudited)


(in millions, except per share amounts)	2023	2022	2021	2020
GAAP Net Income Available to Common Shareholders	$661.7	$749.0	$529.8	$(72.7)
Adjustments to Operating Income:
Operating Revenues:
Weather - compared to normal	60.6	(24.9)	1.2	24.0
FAC adjustment(1)	—	8.0	—	—
Massachusetts Business transaction revenue				(9.0)
Operating Expenses:
Greater Lawrence Incident(1)	—	—	9.2	16.7
Plant retirement costs	—	—	14.1	4.6
NiSource Next initiative(2)	—	3.3	24.7	45.8
Massachusetts Business related amounts(3)	—	(105.0)	6.8	400.3
Gain on sale of assets, net				(1.8)
Total adjustments to operating income	60.6	(118.6)	56.0	480.6
Other Income (Deductions):
Interest rate swap settlement gain	—	(10.0)	—	—
Loss on early extinguishment of long-term debt				243.5
Income Taxes:
Income taxes – discrete items				47.9
Tax effect of above items(4)	(15.8)	27.8	(14.6)	(191.8)
Preferred Dividends:
Preferred dividends redemption premium(5)	9.8	—	—	—
Total adjustments to net income (loss)	54.6	(100.8)	41.4	580.2
Net Operating Earnings Available to Common Shareholders (Non-GAAP)	$716.3	$648.2	$571.2	$507.2
Diluted Average Common Shares	447.9	442.7	417.3	385.3
GAAP Diluted Earnings Per Share(6)	$1.48	$1.70	$1.27	$(0.19)
Adjustments to diluted earnings per share	0.12	(0.23)	0.10	1.51
Non-GAAP Diluted Net Operating Earnings Per Share	$1.60	$1.47	$1.37	$1.32

(1)	Represents fuel costs deemed over-collected from customers through the FAC mechanism and ordered to be refunded to customers.

(2)	Represents incremental severance and third-party consulting costs incurred in connection with the NiSource Next initiative.

(3)	2022 represents proceeds from a property insurance settlement related to the Greater Lawrence Incident. 2021 primarily represents final net working capital adjustments to the purchase price for the loss incurred on the sale of the Massachusetts Business.

(4)	Represents income tax expense calculated using the statutory tax rates by legal entity.

(5)	Represents the difference between the carrying value on the redemption date of the Series A Preferred Stock and the total amount of consideration paid to redeem plus an excise tax liability incurred under the IRA, net of the fair value of common shares issued during 2023.

(6)	The GAAP Diluted Earnings Per Share numerator is equal to Net Operating Earnings Available to Common Shareholders adjusted for income allocated to participating securities plus add-backs for interest expense incurred, net of tax, related to Series A Equity Unit purchase contracts.

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.