$ATO
Atmos Energy Corp

2024 Q2 Form 10-Q Financial Statement

#000073180224000013 Filed on May 08, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $701.5M $1.647B
YoY Change 5.86% 6.9%
Cost Of Revenue -$2.593M $624.3M
YoY Change -105.82% -6.29%
Gross Profit $704.1M $1.023B
YoY Change 13.91% 16.94%
Gross Profit Margin 100.37% 62.1%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $166.8M $165.1M
YoY Change 10.68% 11.31%
% of Gross Profit 23.69% 16.14%
Operating Expenses $483.9M $471.9M
YoY Change 7.78% 4.38%
Operating Profit $220.3M $551.0M
YoY Change 30.14% 30.37%
Interest Expense -$41.16M $55.44M
YoY Change 31.36% 48.36%
% of Operating Profit -18.69% 10.06%
Other Income/Expense, Net $19.90M $16.69M
YoY Change 23.06% -4.13%
Pretax Income $199.0M $512.2M
YoY Change 29.15% 27.21%
Income Tax $33.44M $80.21M
% Of Pretax Income 16.8% 15.66%
Net Earnings $165.6M $432.0M
YoY Change 20.21% 20.79%
Net Earnings / Revenue 23.6% 26.23%
Basic Earnings Per Share $1.08 $2.85
Diluted Earnings Per Share $1.08 $2.85
COMMON SHARES
Basic Shares Outstanding 150.9M shares 150.8M shares
Diluted Shares Outstanding 153.4M shares 151.3M shares

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $674.6M $262.5M
YoY Change 1099.6% 175.8%
Cash & Equivalents $674.6M $262.5M
Short-Term Investments
Other Short-Term Assets $479.8M $428.1M
YoY Change 64.99% 58.13%
Inventory $157.9M $144.1M
Prepaid Expenses
Receivables $391.6M $596.4M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.709B $1.432B
YoY Change 92.21% 33.48%
LONG-TERM ASSETS
Property, Plant & Equipment $21.42B $20.81B
YoY Change 12.64% 12.84%
Goodwill $731.3M $731.3M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $944.3M $939.1M
YoY Change -9.15% -11.54%
Total Long-Term Assets $23.18B $22.57B
YoY Change 11.01% 11.53%
TOTAL ASSETS
Total Short-Term Assets $1.709B $1.432B
Total Long-Term Assets $23.18B $22.57B
Total Assets $24.89B $24.00B
YoY Change 14.33% 12.64%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $319.4M $367.9M
YoY Change -2.6% 0.8%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $9.621M $9.592M
YoY Change 28.06% 534.39%
Total Short-Term Liabilities $984.9M $1.055B
YoY Change -4.78% -5.19%
LONG-TERM LIABILITIES
Long-Term Debt $7.866B $7.526B
YoY Change 18.42% 14.85%
Other Long-Term Liabilities $595.8M $595.5M
YoY Change -53.7% 17.22%
Total Long-Term Liabilities $595.8M $595.5M
YoY Change -92.49% 17.22%
TOTAL LIABILITIES
Total Short-Term Liabilities $984.9M $1.055B
Total Long-Term Liabilities $595.8M $595.5M
Total Liabilities $1.581B $1.651B
YoY Change -85.85% 1.83%
SHAREHOLDERS EQUITY
Retained Earnings $4.209B $4.168B
YoY Change 15.01% 14.83%
Common Stock $7.464B $6.955B
YoY Change 14.16% 11.91%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $12.18B $11.62B
YoY Change
Total Liabilities & Shareholders Equity $24.89B $24.00B
YoY Change 14.33% 12.64%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income $165.6M $432.0M
YoY Change 20.21% 20.79%
Depreciation, Depletion And Amortization $166.8M $165.1M
YoY Change 10.68% 11.31%
Cash From Operating Activities $411.2M $746.6M
YoY Change 25.06% -72.39%
INVESTING ACTIVITIES
Capital Expenditures $713.6M $645.9M
YoY Change 6.81% 4.23%
Acquisitions
YoY Change
Other Investing Activities $3.781M $987.0K
YoY Change 213.0% -45.47%
Cash From Investing Activities -$709.8M -$644.9M
YoY Change 6.43% 4.37%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 714.1M -123.4M
YoY Change 137.19% -94.29%
NET CHANGE
Cash From Operating Activities 411.2M 746.6M
Cash From Investing Activities -709.8M -644.9M
Cash From Financing Activities 714.1M -123.4M
Net Change In Cash 415.5M -21.68M
YoY Change -1221.08% -71.64%
FREE CASH FLOW
Cash From Operating Activities $411.2M $746.6M
Capital Expenditures $713.6M $645.9M
Free Cash Flow -$302.4M $100.7M
YoY Change -10.88% -95.17%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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us-gaap Payments Of Debt Issuance Costs
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CY2024Q1 us-gaap Revenues
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CY2024Q1 us-gaap Cost Of Revenue
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CY2024Q1 us-gaap Operating Income Loss
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CY2024Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2024Q1 us-gaap Income Tax Expense Benefit
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CY2023Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2023Q1 us-gaap Income Tax Expense Benefit
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CY2023Q1 us-gaap Net Income Loss
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us-gaap Net Income Loss
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us-gaap Net Income Loss
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CY2024Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
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CY2023Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
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us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
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us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
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CY2024Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
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us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2024Q1 us-gaap Earnings Per Share Basic
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CY2023Q1 us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2024Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
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us-gaap Net Income Loss Available To Common Stockholders Basic
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us-gaap Net Income Loss Available To Common Stockholders Basic
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us-gaap Amount Of Dilutive Securities Stock Options And Restrictive Stock Units
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us-gaap Amount Of Dilutive Securities Stock Options And Restrictive Stock Units
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2024Q1 us-gaap Incremental Common Shares Attributable To Equity Forward Agreements
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us-gaap Incremental Common Shares Attributable To Equity Forward Agreements
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us-gaap Incremental Common Shares Attributable To Equity Forward Agreements
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CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2024Q1 us-gaap Earnings Per Share Diluted
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us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2023Q1 ato Percent Of Customers Whose Gas Cost Portion Of Bill Is Excluded From Allowance For Uncollectable Account
PercentOfCustomersWhoseGasCostPortionOfBillIsExcludedFromAllowanceForUncollectableAccount
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ato Percent Of Customers Whose Gas Cost Portion Of Bill Is Excluded From Allowance For Uncollectable Account
PercentOfCustomersWhoseGasCostPortionOfBillIsExcludedFromAllowanceForUncollectableAccount
0.88
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CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
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CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
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CY2023Q3 us-gaap Allowance For Doubtful Accounts Receivable
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CY2024Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
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CY2023Q3 us-gaap Common Stock Shares Issued
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us-gaap Cost Of Revenue
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us-gaap Cost Of Revenue
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us-gaap Proceeds From Other Debt
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us-gaap Proceeds From Other Debt
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us-gaap Repayments Of Other Debt
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us-gaap Repayments Of Other Debt
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us-gaap Repayments Of Long Term Debt
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us-gaap Repayments Of Long Term Debt
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ato Repayments Of Securitized Debt
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ato Repayments Of Securitized Debt
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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us-gaap Nature Of Operations
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Nature of Business<div style="margin-top:5pt;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Atmos Energy Corporation (“Atmos Energy” or the “Company”) and its subsidiaries are engaged in the regulated natural gas distribution and pipeline and storage businesses. Our distribution business is subject to federal and state regulation and/or regulation by local authorities in each of the states in which our regulated divisions and subsidiaries operate.</span></div><div style="margin-top:5pt;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our distribution business delivers natural gas through sales and transportation arrangements to over 3.3 million residential, commercial, public authority and industrial customers through our six regulated distribution divisions, which at March 31, 2024, covered service areas located in eight states. </span></div><div style="margin-top:5pt;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our pipeline and storage business, which is also subject to federal and state regulations, includes the transportation of natural gas to our Texas and Louisiana distribution systems and the management of our underground storage facilities used to support our distribution business in various states.</span></div>
CY2024Q1 ato Number Of Customers Regulated Distribution
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3300000 customer
CY2024Q1 ato Number Of Divisions Regulated Distribution
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6 regulateddistributiondivision
CY2024Q1 us-gaap Number Of States In Which Entity Operates
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CY2024Q1 us-gaap Regulatory Assets
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CY2023Q3 us-gaap Regulatory Assets
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CY2024Q1 us-gaap Regulatory Liabilities
RegulatoryLiabilities
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CY2023Q3 us-gaap Regulatory Liabilities
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1284334000 usd
CY2024Q1 us-gaap Number Of States In Which Entity Operates
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us-gaap Cost Of Revenue
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CY2023Q1 us-gaap Amount Of Dilutive Securities Stock Options And Restrictive Stock Units
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CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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151271000 shares
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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151297000 shares
CY2024Q1 ato Percent Of Customers Whose Gas Cost Portion Of Bill Is Excluded From Allowance For Uncollectable Account
PercentOfCustomersWhoseGasCostPortionOfBillIsExcludedFromAllowanceForUncollectableAccount
0.88
CY2024Q1 us-gaap Provision For Doubtful Accounts
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12797000 usd
CY2024Q1 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
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5859000 usd
CY2024Q1 us-gaap Allowance For Doubtful Accounts Receivable Recoveries
AllowanceForDoubtfulAccountsReceivableRecoveries
361000 usd
CY2023Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
13009000 usd
CY2023Q1 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
8333000 usd
CY2023Q1 us-gaap Allowance For Doubtful Accounts Receivable Recoveries
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462000 usd
us-gaap Provision For Doubtful Accounts
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20242000 usd
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
18754000 usd
us-gaap Allowance For Doubtful Accounts Receivable Recoveries
AllowanceForDoubtfulAccountsReceivableRecoveries
1270000 usd
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
19547000 usd
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
14616000 usd
us-gaap Allowance For Doubtful Accounts Receivable Recoveries
AllowanceForDoubtfulAccountsReceivableRecoveries
1126000 usd
ato Accounts Receivable Allowance For Credit Loss Uncollectible Accounts That Are Not Yet Written Off
AccountsReceivableAllowanceForCreditLossUncollectibleAccountsThatAreNotYetWrittenOff
4192000 usd
CY2022Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
49993000 usd
CY2024Q1 us-gaap Finance Lease Liability
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us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
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us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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CY2024Q1 us-gaap Derivative Collateral Right To Reclaim Cash
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CY2024Q1 ato Derivative Asset Net Of Contract Netting
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CY2024Q1 us-gaap Interest Rate Cash Flow Hedge Gain Loss Reclassified To Earnings Net
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CY2023Q1 us-gaap Interest Rate Cash Flow Hedge Gain Loss Reclassified To Earnings Net
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us-gaap Interest Rate Cash Flow Hedge Gain Loss Reclassified To Earnings Net
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CY2024Q1 ato Other Comprehensive Income Unrealized Gain Loss On Interest Rate Agreements Arising During Period Net Of Tax
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CY2024Q1 ato Other Comprehensive Income Reclassification Adjustment On Interest Rate Agreements Included In Net Income Net Of Tax
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CY2024Q1 ato Accumulated Other Comprehensive Income Loss Derivatives Qualifying As Hedges Interest Rate Agreements Realized Gain Loss Net Of Tax
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us-gaap Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months
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9965000 usd
ato Cash Flow Hedge Gain Loss To Be Reclassified After Twelve Months
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209850000 usd
ato Cash Flow Hedge Gain Loss To Be Reclassified Total
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219815000 usd
CY2024Q1 us-gaap Derivative Assets
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357101000 usd
CY2024Q1 ato Debt And Equity Securities
DebtAndEquitySecurities
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CY2024Q1 us-gaap Assets Fair Value Disclosure
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CY2024Q1 us-gaap Derivative Liabilities
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CY2023Q3 us-gaap Derivative Assets
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CY2023Q3 ato Debt And Equity Securities
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CY2023Q3 us-gaap Assets Fair Value Disclosure
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CY2023Q3 us-gaap Derivative Liabilities
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CY2024Q1 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
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CY2024Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
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CY2023Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
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CY2024Q1 us-gaap Debt Instrument Carrying Amount
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CY2023Q3 us-gaap Debt Instrument Carrying Amount
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CY2024Q1 us-gaap Long Term Debt Fair Value
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CY2023Q3 us-gaap Long Term Debt Fair Value
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CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
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CY2024Q1 ecd Rule10b51 Arr Adopted Flag
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CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
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false

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