2023 Q3 Form 10-Q Financial Statement

#000007274123000016 Filed on August 04, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $2.792B $2.629B
YoY Change -13.19% 2.21%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $185.5M $320.0M
YoY Change -55.13% -12.23%
% of Gross Profit
Operating Expenses $2.261B $2.069B
YoY Change -14.95% -2.29%
Operating Profit $530.6M $560.7M
YoY Change -4.79% 23.07%
Interest Expense $222.3M -$207.3M
YoY Change 24.75% -229.49%
% of Operating Profit 41.9% -36.97%
Other Income/Expense, Net $79.10M $94.88M
YoY Change -11.92% 1.04%
Pretax Income $387.4M $47.22M
YoY Change -17.39% -87.87%
Income Tax $45.85M $29.92M
% Of Pretax Income 11.84% 63.36%
Net Earnings $341.5M $15.42M
YoY Change -2.77% -94.75%
Net Earnings / Revenue 12.24% 0.59%
Basic Earnings Per Share $0.97 $0.04
Diluted Earnings Per Share $0.97 $0.04
COMMON SHARES
Basic Shares Outstanding 349.1M shares 348.8M shares
Diluted Shares Outstanding 349.9M shares 349.7M shares

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $79.00M $42.18M
YoY Change -83.74% 42.8%
Cash & Equivalents $78.80M $42.20M
Short-Term Investments
Other Short-Term Assets $374.5M $378.0M
YoY Change 12.41% 30.66%
Inventory $446.0M $405.8M
Prepaid Expenses
Receivables $1.430B $1.332B
Other Receivables $0.00 $0.00
Total Short-Term Assets $4.009B $3.722B
YoY Change 2.28% 13.88%
LONG-TERM ASSETS
Property, Plant & Equipment $38.52B $37.58B
YoY Change 9.96% 9.22%
Goodwill $4.530B $4.523B
YoY Change 1.17% 1.0%
Intangibles
YoY Change
Long-Term Investments $2.724B $2.227B
YoY Change 32.65% 29.5%
Other Assets $597.3M $588.2M
YoY Change -3.99% -6.17%
Total Long-Term Assets $52.28B $50.82B
YoY Change 9.66% 8.94%
TOTAL ASSETS
Total Short-Term Assets $4.009B $3.722B
Total Long-Term Assets $52.28B $50.82B
Total Assets $56.29B $54.54B
YoY Change 9.1% 9.26%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.642B $1.550B
YoY Change 12.51% 14.52%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $1.530B $555.5M
YoY Change 281.07% 462.28%
Long-Term Debt Due $2.072B $2.062B
YoY Change 28.65% 62.98%
Total Short-Term Liabilities $7.120B $5.795B
YoY Change 29.75% 36.01%
LONG-TERM LIABILITIES
Long-Term Debt $22.09B $21.77B
YoY Change 11.37% 11.17%
Other Long-Term Liabilities $908.7M $907.2M
YoY Change 3.93% 2.89%
Total Long-Term Liabilities $23.00B $22.68B
YoY Change 11.06% 10.82%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.120B $5.795B
Total Long-Term Liabilities $23.00B $22.68B
Total Liabilities $30.12B $28.47B
YoY Change 14.97% 15.16%
SHAREHOLDERS EQUITY
Retained Earnings $5.667B $5.563B
YoY Change 4.38% 4.94%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $200.6M $205.4M
YoY Change -15.09% -14.2%
Treasury Stock Shares
Shareholders Equity $15.69B $15.55B
YoY Change
Total Liabilities & Shareholders Equity $56.29B $54.54B
YoY Change 9.1% 9.26%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income $341.5M $15.42M
YoY Change -2.77% -94.75%
Depreciation, Depletion And Amortization $185.5M $320.0M
YoY Change -55.13% -12.23%
Cash From Operating Activities $521.9M $578.1M
YoY Change -38.39% 23.04%
INVESTING ACTIVITIES
Capital Expenditures $1.086B $1.062B
YoY Change -235.14% -235.42%
Acquisitions
YoY Change
Other Investing Activities -$475.2M -$283.8M
YoY Change 46.03% 81.52%
Cash From Investing Activities -$1.561B -$1.346B
YoY Change 38.28% 43.08%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.042B 783.2M
YoY Change 43.27% 69.16%
NET CHANGE
Cash From Operating Activities 521.9M 578.1M
Cash From Investing Activities -1.561B -1.346B
Cash From Financing Activities 1.042B 783.2M
Net Change In Cash 3.000M 15.22M
YoY Change -99.33% -292.4%
FREE CASH FLOW
Cash From Operating Activities $521.9M $578.1M
Capital Expenditures $1.086B $1.062B
Free Cash Flow -$564.2M -$484.2M
YoY Change -134.18% -138.61%

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PublicUtilitiesPropertyPlantAndEquipmentDistributionWater
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PublicUtilitiesPropertyPlantAndEquipmentDistributionWater
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CY2023Q2 us-gaap Public Utilities Property Plant And Equipment Generation Or Processing
PublicUtilitiesPropertyPlantAndEquipmentGenerationOrProcessing
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CY2022Q4 us-gaap Public Utilities Property Plant And Equipment Generation Or Processing
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PublicUtilitiesPropertyPlantAndEquipmentElectricAndNaturalGasUtilityTotal
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CY2022Q4 es Public Utilities Property Plant And Equipment Electric And Natural Gas Utility Total
PublicUtilitiesPropertyPlantAndEquipmentElectricAndNaturalGasUtilityTotal
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CY2023Q2 us-gaap Public Utilities Property Plant And Equipment Other Property Plant And Equipment
PublicUtilitiesPropertyPlantAndEquipmentOtherPropertyPlantAndEquipment
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CY2022Q4 us-gaap Public Utilities Property Plant And Equipment Other Property Plant And Equipment
PublicUtilitiesPropertyPlantAndEquipmentOtherPropertyPlantAndEquipment
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CY2023Q2 us-gaap Public Utilities Property Plant And Equipment Plant In Service
PublicUtilitiesPropertyPlantAndEquipmentPlantInService
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CY2022Q4 us-gaap Public Utilities Property Plant And Equipment Plant In Service
PublicUtilitiesPropertyPlantAndEquipmentPlantInService
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ElectricAndNaturalGasUtilityAccumulatedDepreciation
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OtherAccumulatedDepreciation
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CY2023Q2 us-gaap Public Utilities Property Plant And Equipment Accumulated Depreciation
PublicUtilitiesPropertyPlantAndEquipmentAccumulatedDepreciation
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PublicUtilitiesPropertyPlantAndEquipmentConstructionWorkInProgress
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PublicUtilitiesPropertyPlantAndEquipmentConstructionWorkInProgress
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CY2022Q4 us-gaap Public Utilities Property Plant And Equipment Net
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EquitySecuritiesFvNiUnrealizedGainLoss
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EquitySecuritiesFvNiUnrealizedGainLoss
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us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
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CY2023Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
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CY2023Q2 us-gaap Available For Sale Securities Debt Securities
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192800000 usd
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AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
100000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
16200000 usd
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
185500000 usd
CY2023Q2 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
46600000 usd
CY2023Q2 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
46600000 usd
CY2023Q2 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost
31500000 usd
CY2023Q2 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
30600000 usd
CY2023Q2 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost
39300000 usd
CY2023Q2 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue
37400000 usd
CY2023Q2 us-gaap Available For Sale Securities Debt Maturities After Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost
86200000 usd
CY2023Q2 us-gaap Available For Sale Securities Debt Maturities After Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue
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CY2023Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
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CY2023Q2 us-gaap Available For Sale Securities Debt Securities
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CY2023Q2 us-gaap Accrual For Environmental Loss Contingencies
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CY2023Q2 es Number Of Environmental Sites
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CY2023Q2 us-gaap Guarantee Obligations Current Carrying Value
GuaranteeObligationsCurrentCarryingValue
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CY2022Q4 us-gaap Guarantee Obligations Current Carrying Value
GuaranteeObligationsCurrentCarryingValue
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us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
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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 Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
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CommonStockSharesAuthorized
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CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
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CY2023Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
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CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
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CY2023Q2 us-gaap Treasury Stock Common Shares
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CY2022Q4 us-gaap Treasury Stock Common Shares
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CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
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CY2023Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
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CY2023Q2 us-gaap Common Stock Shares Authorized
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CY2023Q2 us-gaap Redeemable Noncontrolling Interest Equity Preferred Carrying Amount
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CY2022Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
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us-gaap Net Income Loss Available To Common Stockholders Diluted
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us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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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
WeightedAverageNumberOfSharesOutstandingBasic
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CY2023Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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CY2022Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2022Q2 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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us-gaap Earnings Per Share Diluted
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us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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us-gaap Earnings Per Share Basic
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CY2023Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
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CY2023Q2 us-gaap Revenue Not From Contract With Customer
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us-gaap Revenue From Contract With Customer Including Assessed Tax
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CY2022Q2 us-gaap Revenues
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us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
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us-gaap Revenue Not From Contract With Customer
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us-gaap Revenues
Revenues
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CY2023Q2 us-gaap Revenues
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CY2023Q2 us-gaap Depreciation Depletion And Amortization
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101500000 usd
CY2023Q2 us-gaap Utilities Operating Expense Other
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CY2023Q2 us-gaap Operating Income Loss
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CY2023Q2 us-gaap Interest Expense
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us-gaap Revenues
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us-gaap Depreciation Depletion And Amortization
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CY2022Q2 us-gaap Operating Income Loss
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us-gaap Revenues
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us-gaap Depreciation Depletion And Amortization
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us-gaap Operating Income Loss
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us-gaap Net Income Loss Available To Common Stockholders Basic
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us-gaap Payments To Acquire Property Plant And Equipment
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CY2023Q2 us-gaap Assets
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CY2022Q4 us-gaap Assets
Assets
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CY2022Q4 us-gaap Receivables From Customers
ReceivablesFromCustomers
238968000 usd
CY2023Q2 us-gaap Equity Method Investments
EquityMethodInvestments
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CY2022Q4 us-gaap Other Liabilities Noncurrent
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CY2022Q4 us-gaap Redeemable Noncontrolling Interest Equity Preferred Carrying Amount
RedeemableNoncontrollingInterestEquityPreferredCarryingAmount
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us-gaap Adjustment For Amortization
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us-gaap Adjustment For Amortization
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us-gaap Operating Expenses
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us-gaap Operating Expenses
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us-gaap Operating Income Loss
OperatingIncomeLoss
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us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2023Q2 us-gaap Interest Expense
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CY2022Q2 us-gaap Interest Expense
InterestExpense
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us-gaap Interest Expense
InterestExpense
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us-gaap Interest Expense
InterestExpense
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us-gaap Equity Method Investment Other Than Temporary Impairment
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us-gaap Equity Method Investment Other Than Temporary Impairment
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us-gaap Profit Loss
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us-gaap Net Income Loss Attributable To Noncontrolling Interest
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CY2022Q2 us-gaap Earnings Per Share Basic
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EarningsPerShareDiluted
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Profit Loss
ProfitLoss
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us-gaap Profit Loss
ProfitLoss
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us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
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10000 usd
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
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us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
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us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
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us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
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us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
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us-gaap Comprehensive Income Net Of Tax
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us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
734720000 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
15473158000 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
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CY2023Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.675
CY2023Q1 us-gaap Dividends Common Stock
DividendsCommonStock
235354000 usd
CY2023Q1 us-gaap Dividends Preferred Stock
DividendsPreferredStock
1880000 usd
CY2023Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
-13141000 usd
CY2023Q1 us-gaap Stock Issued During Period Value Treasury Stock Reissued
StockIssuedDuringPeriodValueTreasuryStockReissued
30319000 usd
CY2023Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
3230000 usd
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
15749371000 usd
CY2023Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.675
CY2023Q2 us-gaap Dividends Preferred Stock
DividendsPreferredStock
1880000 usd
CY2023Q2 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
5155000 usd
CY2023Q2 us-gaap Stock Issued During Period Value Treasury Stock Reissued
StockIssuedDuringPeriodValueTreasuryStockReissued
15553000 usd
CY2023Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
4088000 usd
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
15554098000 usd
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
14836690000 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
293742000 usd
CY2022Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.6375
CY2022Q2 us-gaap Dividends Common Stock
DividendsCommonStock
219877000 usd
CY2022Q2 us-gaap Dividends Preferred Stock
DividendsPreferredStock
1880000 usd
es Energy Efficiency Programs
EnergyEfficiencyPrograms
368774000 usd
es Energy Efficiency Programs
EnergyEfficiencyPrograms
336163000 usd
us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
461344000 usd
us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
443395000 usd
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
3759000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
506581000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
735309000 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
17302000 usd
CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
532427000 usd
CY2023Q2 us-gaap Receivables From Customers
ReceivablesFromCustomers
181100000 usd
CY2023Q2 us-gaap Regulatory Assets Current
RegulatoryAssetsCurrent
1382150000 usd
CY2022Q4 us-gaap Regulatory Assets Current
RegulatoryAssetsCurrent
1335491000 usd
CY2023Q2 us-gaap Other Assets Current
OtherAssetsCurrent
378007000 usd
CY2022Q4 us-gaap Notes Payable
NotesPayable
1442200000 usd
CY2023Q2 us-gaap Dividends Common Stock
DividendsCommonStock
235491000 usd

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