ONE Gas, Inc.

For the period ended Mar 31, 2025. Filed May 6, 2025.

About this filing

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.

Mar 31, 2025 · Filed May 6, 2025

OGS$82.30+1.3%Stored close · as of Nov 10, 2026

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Contents

Consolidated Statements of Cash Flows

ONE Gas, Inc.
CONSOLIDATED STATEMENTS OF CASH FLOWS	Three Months Ended
	March 31,
(Unaudited)	2025	2024
(Thousands of dollars)
Operating activities
Net income	$119,419	$99,317
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	81,704	76,572
Deferred income taxes	19,146	16,247
Share-based compensation expense	3,656	3,117
Provision for doubtful accounts	2,331	1,675
Changes in assets and liabilities:
Accounts receivable	(40,690)	21,684
Materials and supplies	3,681	(2,700)
Natural gas in storage	92,498	76,646
Asset removal costs	(11,089)	(12,621)
Accounts payable	(72,871)	(68,117)
Accrued taxes other than income	2,245	(4,388)
Customer deposits	(1,320)	(4,123)
Regulatory assets and liabilities - current	73,872	(58,520)
Regulatory assets and liabilities - noncurrent	9,425	2,520
Other assets and liabilities - current	(11,650)	(39,312)
Other assets and liabilities - noncurrent	7,102	265
Cash provided by operating activities	277,459	108,262
Investing activities
Capital expenditures	(166,597)	(166,751)
Other investing expenditures	(2,427)	(1,259)
Other investing receipts	1,179	2,029
Cash used in investing activities	(167,845)	(165,981)
Financing activities
Borrowings (repayments) of notes payable, net	(102,700)	864,900
Repayment of other long-term debt	(4)	(773,000)
Repayment of securitized utility tariff bonds	(14,547)	(13,780)
Dividends paid	(40,153)	(37,336)
Tax withholdings related to net share settlements of stock compensation	(2,559)	(980)
Cash provided by (used in) financing activities	(159,963)	39,804
Change in cash, cash equivalents, restricted cash and restricted cash equivalents	(50,349)	(17,915)
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period	78,537	39,387
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period	$28,188	$21,472
Supplemental cash flow information:
Cash paid for interest, net of amounts capitalized	$36,268	$41,497
Cash paid (received) for state income taxes	$—	$(2,797)
Cash paid (received) for federal income taxes	$—	$—

ONE Gas, Inc.
CONSOLIDATED STATEMENTS OF EQUITY
(Unaudited)	Common Stock Issued	Common Stock	Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income/(Loss)	Total Equity
(Shares) · (Thousands of dollars)
January 1, 2025	59,876,861	$599	$2,294,469	$809,606	$(126)	$3,104,548
Net income	—	—	—	119,419	—	119,419
Other comprehensive income	—	—	—	—	124	124
Common stock issued and other	52,229	—	1,097	—	—	1,097
Common stock dividends - $0.67 per share	—	—	423	(40,576)	—	(40,153)
March 31, 2025	59,929,090	$599	$2,295,989	$888,449	$(2)	$3,185,035
January 1, 2024	56,545,924	$565	$2,028,755	$737,739	$(1,182)	$2,765,877
Net income	—	—	—	99,317	—	99,317
Other comprehensive income	—	—	—	—	(10)	(10)
Common stock issued and other	23,472	1	2,136	—	—	2,137
Common stock dividends - $0.66 per share	—	—	277	(37,613)	—	(37,336)
March 31, 2024	56,569,396	$566	$2,031,168	$799,443	$(1,192)	$2,829,985

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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.