2017 Q1 Form 10-Q Financial Statement

#000007014517000039 Filed on May 05, 2017

View on sec.gov

Income Statement

Concept 2017 Q1 2016 Q1 2015 Q4
Revenue $522.1M $449.1M $375.2M
YoY Change 16.25% -24.66% -28.38%
Cost Of Revenue $148.0M $81.60M $42.10M
YoY Change 81.37% -57.19% -66.88%
Gross Profit $374.1M $367.5M $333.1M
YoY Change 1.8% -9.37% -16.05%
Gross Profit Margin 71.66% 81.83% 88.78%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $57.00M $63.95M $70.55M
YoY Change -10.87% -22.66% -31.34%
% of Gross Profit 15.24% 17.4% 21.18%
Operating Expenses $352.1M $686.1M $681.1M
YoY Change -48.68% 24.35% 87.46%
Operating Profit $170.0M -$237.0M -$305.9M
YoY Change -171.71% -634.61% -290.53%
Interest Expense -$29.40M -$30.00M -$30.00M
YoY Change -2.0% 25.52% 37.61%
% of Operating Profit -17.3%
Other Income/Expense, Net $1.700M $3.200M $2.400M
YoY Change -46.88% 128.57% 100.0%
Pretax Income $142.3M -$263.7M -$333.5M
YoY Change -153.94% -1309.43% -338.36%
Income Tax $52.97M -$116.0M -$144.4M
% Of Pretax Income 37.24%
Net Earnings $89.28M -$147.7M -$189.1M
YoY Change -160.45% -986.0% -323.16%
Net Earnings / Revenue 17.1% -32.89% -50.4%
Basic Earnings Per Share $1.05 -$1.74 -$2.23
Diluted Earnings Per Share $1.04 -$1.74 -$2.23
COMMON SHARES
Basic Shares Outstanding 85.33M shares 84.81M shares 84.65M shares
Diluted Shares Outstanding 86.01M shares 84.81M shares 84.65M shares

Balance Sheet

Concept 2017 Q1 2016 Q1 2015 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $231.2M $93.70M $36.30M
YoY Change 146.74% 35.01% -17.31%
Cash & Equivalents $231.2M $93.70M $36.33M
Short-Term Investments
Other Short-Term Assets $51.59M $56.71M $66.15M
YoY Change -9.04% -4.83% -2.8%
Inventory $43.70M $42.00M $61.20M
Prepaid Expenses
Receivables $171.2M $137.7M $211.1M
Other Receivables $5.200M $0.00 $7.100M
Total Short-Term Assets $556.9M $376.5M $424.5M
YoY Change 47.92% -22.67% -6.11%
LONG-TERM ASSETS
Property, Plant & Equipment $4.519B $4.572B $4.883B
YoY Change -1.16% -22.46% -16.59%
Goodwill $5.476M $5.476M $5.476M
YoY Change 0.0% 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $117.3M $104.3M $108.2M
YoY Change 12.46% 18.25% 23.66%
Other Assets $485.0K $157.0K $162.0K
YoY Change 208.92% -11.8% -11.96%
Total Long-Term Assets $728.7M $852.3M $883.0M
YoY Change -14.51% 0.92% 5.22%
TOTAL ASSETS
Total Short-Term Assets $556.9M $376.5M $424.5M
Total Long-Term Assets $728.7M $852.3M $883.0M
Total Assets $5.805B $5.801B $6.190B
YoY Change 0.06% -19.74% -13.36%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $111.4M $111.1M $126.9M
YoY Change 0.3% -34.01% 0.87%
Accrued Expenses $33.17M $24.05M $28.05M
YoY Change 37.97% -17.72% -10.43%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $31.40M
YoY Change -100.0% -81.84%
Long-Term Debt Due $0.00 $0.00 $0.00
YoY Change
Total Short-Term Liabilities $325.9M $352.6M $411.1M
YoY Change -7.58% -45.26% -27.94%
LONG-TERM LIABILITIES
Long-Term Debt $2.087B $2.085B $2.085B
YoY Change 0.11% 26.45% 26.42%
Other Long-Term Liabilities $903.0M $895.9M $882.6M
YoY Change 0.79% 16.02% 18.98%
Total Long-Term Liabilities $1.740B $1.741B $1.882B
YoY Change -0.04% -25.46% -18.97%
TOTAL LIABILITIES
Total Short-Term Liabilities $325.9M $352.6M $411.1M
Total Long-Term Liabilities $1.740B $1.741B $1.882B
Total Liabilities $2.066B $2.093B $2.293B
YoY Change -1.31% -29.74% -20.74%
SHAREHOLDERS EQUITY
Retained Earnings $817.3M $699.4M $880.6M
YoY Change 16.86% -57.63% -47.16%
Common Stock $85.38M $84.89M $84.74M
YoY Change 0.57% 0.6% 0.56%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.651B $1.623B $1.813B
YoY Change
Total Liabilities & Shareholders Equity $5.805B $5.801B $6.190B
YoY Change 0.06% -19.74% -13.36%

Cashflow Statement

Concept 2017 Q1 2016 Q1 2015 Q4
OPERATING ACTIVITIES
Net Income $89.28M -$147.7M -$189.1M
YoY Change -160.45% -986.0% -323.16%
Depreciation, Depletion And Amortization $57.00M $63.95M $70.55M
YoY Change -10.87% -22.66% -31.34%
Cash From Operating Activities $207.3M $198.7M $114.1M
YoY Change 4.33% -37.59% -39.66%
INVESTING ACTIVITIES
Capital Expenditures -$102.1M -$172.6M $186.4M
YoY Change -40.85% -30.52% -23.88%
Acquisitions
YoY Change
Other Investing Activities $21.80M $91.90M $15.76M
YoY Change -76.28% -92000.0% 1182.02%
Cash From Investing Activities -$80.30M -$80.70M -$191.6M
YoY Change -0.5% -67.51% -22.18%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -32.30M -60.70M 300.0K
YoY Change -46.79% 36.71% -99.53%
NET CHANGE
Cash From Operating Activities 207.3M 198.7M 114.1M
Cash From Investing Activities -80.30M -80.70M -191.6M
Cash From Financing Activities -32.30M -60.70M 300.0K
Net Change In Cash 94.70M 57.30M -77.20M
YoY Change 65.27% 123.83% -1202.86%
FREE CASH FLOW
Cash From Operating Activities $207.3M $198.7M $114.1M
Capital Expenditures -$102.1M -$172.6M $186.4M
Free Cash Flow $309.4M $371.3M -$72.34M
YoY Change -16.67% -34.49% 29.57%

Facts In Submission

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us-gaap Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net
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31000 USD
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168000 USD
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0 USD
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us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
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us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
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0 USD
us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
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226000 USD
us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
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CY2016Q3 us-gaap Goodwill
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CY2017Q1 us-gaap Goodwill
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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0 USD
us-gaap Income Tax Effects Allocated Directly To Equity Cumulative Effect Of Change In Accounting Principle
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0 USD
CY2017Q1 us-gaap Income Tax Effects Allocated Directly To Equity Cumulative Effect Of Change In Accounting Principle
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0 USD
us-gaap Income Tax Effects Allocated Directly To Equity Cumulative Effect Of Change In Accounting Principle
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31916000 USD
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us-gaap Income Tax Expense Benefit
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us-gaap Income Tax Expense Benefit
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5725000 USD
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us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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us-gaap Income Tax Reconciliation State And Local Income Taxes
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us-gaap Income Tax Reconciliation State And Local Income Taxes
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us-gaap Increase Decrease In Accounts Payable Trade
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us-gaap Increase Decrease In Margin Deposits Outstanding
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32000 USD
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202000 USD
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us-gaap Interest Income Domestic Deposits
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2077000 USD
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us-gaap Interest Income Domestic Deposits
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1991000 USD
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us-gaap Investment Tax Credit
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us-gaap Investment Tax Credit
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0 USD
CY2017Q1 us-gaap Long Term Debt Current
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CY2017Q1 us-gaap Loss Contingency Estimate Of Possible Loss
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3400000 USD
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us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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us-gaap Net Income Loss
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us-gaap Net Income Loss
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us-gaap Operating Expenses
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us-gaap Operating Expenses
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
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388000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax
0 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
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CY2016Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
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163000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
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0 USD
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Before Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Before Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Tax
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OtherComprehensiveIncomeLossTax
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OtherComprehensiveIncomeLossTax
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us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
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us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
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1726000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
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us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
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645000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
300000 USD
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OtherNoncashIncomeExpense
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OtherNonoperatingIncome
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us-gaap Other Nonoperating Income
OtherNonoperatingIncome
5654000 USD
CY2017Q1 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
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us-gaap Other Nonoperating Income
OtherNonoperatingIncome
3356000 USD
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5284000 USD
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10297000 USD
us-gaap Other Significant Noncash Transaction Value Of Consideration Received1
OtherSignificantNoncashTransactionValueOfConsiderationReceived1
0 USD
us-gaap Payments For Proceeds From Other Investing Activities
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us-gaap Payments For Proceeds From Other Investing Activities
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3225000 USD
us-gaap Payments Of Dividends Common Stock
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us-gaap Payments Of Dividends Common Stock
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us-gaap Payments To Acquire Property Plant And Equipment
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358981000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
208231000 USD
us-gaap Stock Issued During Period Shares Employee Benefit Plan
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us-gaap Stock Issued During Period Shares Stock Options Exercised
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CY2016Q3 us-gaap Pension And Other Postretirement And Postemployment Benefit Plans Liabilities Noncurrent
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277113000 USD
CY2017Q1 us-gaap Pension And Other Postretirement And Postemployment Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementAndPostemploymentBenefitPlansLiabilitiesNoncurrent
291259000 USD
CY2016Q3 us-gaap Prepaid Taxes
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CY2017Q1 us-gaap Prepaid Taxes
PrepaidTaxes
22563000 USD
us-gaap Proceeds From Repurchase Of Equity
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us-gaap Proceeds From Repurchase Of Equity
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3230000 USD
us-gaap Proceeds From Sale Of Oil And Gas Property And Equipment
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104938000 USD
us-gaap Proceeds From Sale Of Oil And Gas Property And Equipment
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26554000 USD
CY2016Q3 us-gaap Property Plant And Equipment Gross
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CY2017Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
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4454482000 USD
CY2017Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4519057000 USD
us-gaap Public Utilities Approved Equity Capital Structure Percentage
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us-gaap Public Utilities Approved Rate Increase Decrease Amount
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5900000 USD
us-gaap Public Utilities Approved Return On Equity Percentage
PublicUtilitiesApprovedReturnOnEquityPercentage
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us-gaap Public Utilities Requested Rate Increase Decrease Amount
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41700000 USD
CY2016Q3 us-gaap Receivables Net Current
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133201000 USD
CY2017Q1 us-gaap Receivables Net Current
ReceivablesNetCurrent
171162000 USD
CY2016Q1 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
35860000 USD
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
75024000 USD
CY2017Q1 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
6058000 USD
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
24289000 USD
CY2016Q3 us-gaap Refundable Gas Costs
RefundableGasCosts
19537000 USD
CY2017Q1 us-gaap Refundable Gas Costs
RefundableGasCosts
19466000 USD
CY2016Q3 us-gaap Regulatory Assets Current
RegulatoryAssetsCurrent
15616000 USD
CY2017Q1 us-gaap Regulatory Assets Current
RegulatoryAssetsCurrent
18501000 USD
CY2016Q3 us-gaap Regulatory Assets Noncurrent
RegulatoryAssetsNoncurrent
320750000 USD
CY2017Q1 us-gaap Regulatory Assets Noncurrent
RegulatoryAssetsNoncurrent
314903000 USD
CY2016Q3 us-gaap Regulatory Liability Current
RegulatoryLiabilityCurrent
14725000 USD
CY2017Q1 us-gaap Regulatory Liability Current
RegulatoryLiabilityCurrent
29579000 USD
CY2016Q3 us-gaap Regulatory Liability Noncurrent
RegulatoryLiabilityNoncurrent
99789000 USD
CY2017Q1 us-gaap Regulatory Liability Noncurrent
RegulatoryLiabilityNoncurrent
91661000 USD
us-gaap Remaining Recovery Period Of Regulatory Assets For Which No Return On Investment During Recovery Period Is Provided1
RemainingRecoveryPeriodOfRegulatoryAssetsForWhichNoReturnOnInvestmentDuringRecoveryPeriodIsProvided1
P4Y
CY2015Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1103200000 USD
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
880619000 USD
CY2016Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
699399000 USD
CY2016Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
676361000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
762641000 USD
CY2017Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
817348000 USD
CY2016Q1 us-gaap Sales Revenue Goods Gross
SalesRevenueGoodsGross
449132000 USD
us-gaap Sales Revenue Goods Gross
SalesRevenueGoodsGross
824327000 USD
CY2017Q1 us-gaap Sales Revenue Goods Gross
SalesRevenueGoodsGross
522075000 USD
us-gaap Sales Revenue Goods Gross
SalesRevenueGoodsGross
944576000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
2518000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
5632000 USD
CY2016Q3 us-gaap Short Term Borrowings
ShortTermBorrowings
0 USD
CY2017Q1 us-gaap Short Term Borrowings
ShortTermBorrowings
0 USD
us-gaap Stock Issued During Period Shares Dividend Reinvestment Plan
StockIssuedDuringPeriodSharesDividendReinvestmentPlan
90361 shares
CY2016Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1527004000 USD
CY2017Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1651320000 USD
CY2016Q1 us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
21305000 USD
us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
41662000 USD
CY2017Q1 us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
22542000 USD
us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
42921000 USD
us-gaap Unrealized Gain Loss On Price Risk Cash Flow Derivatives Before Tax
UnrealizedGainLossOnPriceRiskCashFlowDerivativesBeforeTax
62200000 USD
CY2017Q1 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
1300000 USD
CY2016Q3 us-gaap Unrecovered Costs For Purchased Gas Amount
UnrecoveredCostsForPurchasedGasAmount
2440000 USD
CY2017Q1 us-gaap Unrecovered Costs For Purchased Gas Amount
UnrecoveredCostsForPurchasedGasAmount
4681000 USD
CY2016Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
84806982 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
84728680 shares
CY2017Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
86006614 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
85897282 shares
CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
84806982 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
84728680 shares
CY2017Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
85334887 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
85261575 shares
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Reclassification.</font><font style="font-family:inherit;font-size:10pt;"> Certain prior year amounts have been reclassified to conform with current year presentation.</font></div></div>

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