2018 Q3 Form 10-Q Financial Statement

#000007014518000017 Filed on August 03, 2018

View on sec.gov

Income Statement

Concept 2018 Q3 2018 Q2 2017 Q2
Revenue $289.2M $342.9M $348.4M
YoY Change 0.79% -1.57% 3.8%
Cost Of Revenue $15.00M $52.20M $46.10M
YoY Change 37.61% 13.23% 96.17%
Gross Profit $274.2M $290.7M $302.3M
YoY Change -0.65% -3.84% -3.14%
Gross Profit Margin 94.81% 84.77% 86.78%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $63.20M $60.82M $55.62M
YoY Change 14.08% 9.35% -5.42%
% of Gross Profit 23.05% 20.92% 18.4%
Operating Expenses $189.5M $228.9M $225.0M
YoY Change 28.3% 1.73% -22.53%
Operating Profit $84.66M $114.0M $123.4M
YoY Change -3.13% -7.58% 173.14%
Interest Expense -$29.40M -$28.20M -$29.20M
YoY Change -10.37% -3.42% -1.68%
% of Operating Profit -34.73% -24.74% -23.67%
Other Income/Expense, Net -$1.000M -$3.612M $1.400M
YoY Change -97.1% -358.0% -6.67%
Pretax Income $54.30M $82.21M $95.51M
YoY Change -11.13% -13.92% 460.94%
Income Tax $12.80M $19.18M $35.79M
% Of Pretax Income 23.57% 23.33% 37.48%
Net Earnings $38.00M $63.03M $59.71M
YoY Change -16.64% 5.54% 620.66%
Net Earnings / Revenue 13.14% 18.38% 17.14%
Basic Earnings Per Share $0.44 $0.73 $0.70
Diluted Earnings Per Share $0.44 $0.73 $0.69
COMMON SHARES
Basic Shares Outstanding 85.95M shares 85.93M shares 85.42M shares
Diluted Shares Outstanding 86.50M shares 86.06M shares

Balance Sheet

Concept 2018 Q3 2018 Q2 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $229.6M $313.3M $285.3M
YoY Change -58.67% 9.81% 170.17%
Cash & Equivalents $229.6M $313.3M $285.3M
Short-Term Investments
Other Short-Term Assets $68.02M $52.69M $50.85M
YoY Change 32.07% 3.61% 7.92%
Inventory $73.60M $50.80M $52.50M
Prepaid Expenses
Receivables $141.5M $151.0M $127.9M
Other Receivables $31.30M $22.30M $9.600M
Total Short-Term Assets $544.6M $589.0M $542.2M
YoY Change -33.45% 8.64% 50.14%
LONG-TERM ASSETS
Property, Plant & Equipment $4.977B $4.843B $4.584B
YoY Change 6.48% 5.67% 3.05%
Goodwill $5.476M $5.476M $5.476M
YoY Change 0.0% 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $132.5M $130.7M $126.5M
YoY Change 5.75% 3.32% 13.55%
Other Assets $102.0K $108.0K $479.0K
YoY Change -86.25% -77.45% 312.93%
Total Long-Term Assets $514.8M $541.9M $741.8M
YoY Change -15.75% -26.95% 1.3%
TOTAL ASSETS
Total Short-Term Assets $544.6M $589.0M $542.2M
Total Long-Term Assets $514.8M $541.9M $741.8M
Total Assets $6.036B $5.974B $5.868B
YoY Change -1.1% 1.82% 5.89%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $160.0M $111.8M $98.84M
YoY Change 26.56% 13.12% 14.29%
Accrued Expenses $132.7M $38.08M $34.18M
YoY Change 18.59% 11.42% 37.58%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $250.0M $300.0M
YoY Change -100.0% -16.67%
Total Short-Term Liabilities $440.1M $661.5M $602.1M
YoY Change -31.88% 9.85% 117.9%
LONG-TERM LIABILITIES
Long-Term Debt $2.131B $1.836B $1.788B
YoY Change 2.29% 2.66% -14.28%
Other Long-Term Liabilities $1.015B $1.058B $911.8M
YoY Change 30.36% 16.06% 8.08%
Total Long-Term Liabilities $1.528B $1.550B $1.793B
YoY Change -8.51% -13.59% 8.59%
TOTAL LIABILITIES
Total Short-Term Liabilities $440.1M $661.5M $602.1M
Total Long-Term Liabilities $1.528B $1.550B $1.793B
Total Liabilities $1.968B $2.211B $2.396B
YoY Change -15.03% -7.7% 24.26%
SHAREHOLDERS EQUITY
Retained Earnings $1.099B $1.097B $841.6M
YoY Change 29.03% 30.4% 25.0%
Common Stock $85.96M $85.94M $85.47M
YoY Change 0.48% 0.56% 0.61%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.937B $1.927B $1.684B
YoY Change
Total Liabilities & Shareholders Equity $6.036B $5.974B $5.868B
YoY Change -1.1% 1.82% 5.89%

Cashflow Statement

Concept 2018 Q3 2018 Q2 2017 Q2
OPERATING ACTIVITIES
Net Income $38.00M $63.03M $59.71M
YoY Change -16.64% 5.54% 620.66%
Depreciation, Depletion And Amortization $63.20M $60.82M $55.62M
YoY Change 14.08% 9.35% -5.42%
Cash From Operating Activities $97.20M $229.4M $199.2M
YoY Change -27.14% 15.16% 35.33%
INVESTING ACTIVITIES
Capital Expenditures -$180.0M -$142.3M -$106.6M
YoY Change 32.84% 33.49% -13.19%
Acquisitions
YoY Change
Other Investing Activities $1.400M $31.00M -$6.900M
YoY Change -87.72% -549.28% -139.66%
Cash From Investing Activities -$178.7M -$111.1M -$113.5M
YoY Change 43.88% -2.11% 7.69%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.100M -34.30M -31.60M
YoY Change -100.42% 8.54% 5.69%
NET CHANGE
Cash From Operating Activities 97.20M 229.4M 199.2M
Cash From Investing Activities -178.7M -111.1M -113.5M
Cash From Financing Activities -1.100M -34.30M -31.60M
Net Change In Cash -82.60M 84.00M 54.10M
YoY Change -130.54% 55.27% 354.62%
FREE CASH FLOW
Cash From Operating Activities $97.20M $229.4M $199.2M
Capital Expenditures -$180.0M -$142.3M -$106.6M
Free Cash Flow $277.2M $371.7M $305.8M
YoY Change 3.09% 21.55% 13.26%

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CY2018Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.73
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
4.12
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0.69
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.77
CY2018Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.73
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
4.09
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0.374
us-gaap Effective Income Tax Rate Continuing Operations
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0.379
CY2018Q2 us-gaap Effective Income Tax Rate Continuing Operations
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0.233
us-gaap Effective Income Tax Rate Continuing Operations
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us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.35
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0.35
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0.245
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.245
CY2017Q3 us-gaap Energy Related Inventory Gas Stored Underground
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16090000 USD
us-gaap Gain Loss On Fair Value Hedges Recognized In Earnings
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CY2017Q3 us-gaap Goodwill
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CY2018Q2 us-gaap Goodwill
Goodwill
5476000 USD
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95506000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
383101000 USD
CY2018Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
82208000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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329702000 USD
CY2017Q2 us-gaap Income Tax Effects Allocated Directly To Equity Cumulative Effect Of Change In Accounting Principle
IncomeTaxEffectsAllocatedDirectlyToEquityCumulativeEffectOfChangeInAccountingPrinciple
0 USD
us-gaap Income Tax Effects Allocated Directly To Equity Cumulative Effect Of Change In Accounting Principle
IncomeTaxEffectsAllocatedDirectlyToEquityCumulativeEffectOfChangeInAccountingPrinciple
31916000 USD
CY2018Q2 us-gaap Income Tax Effects Allocated Directly To Equity Cumulative Effect Of Change In Accounting Principle
IncomeTaxEffectsAllocatedDirectlyToEquityCumulativeEffectOfChangeInAccountingPrinciple
0 USD
us-gaap Income Tax Effects Allocated Directly To Equity Cumulative Effect Of Change In Accounting Principle
IncomeTaxEffectsAllocatedDirectlyToEquityCumulativeEffectOfChangeInAccountingPrinciple
0 USD
CY2017Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
35792000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
145195000 USD
CY2018Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
19183000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2018Q1 us-gaap Income Tax Expense Benefit Continuing Operations Adjustment Of Deferred Tax Asset Liability
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4000000 USD
us-gaap Income Tax Expense Benefit Continuing Operations Adjustment Of Deferred Tax Asset Liability
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107000000 USD
us-gaap Increase Decrease In Accounts Payable Trade
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5046000 USD
us-gaap Increase Decrease In Accounts Payable Trade
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2327000 USD
us-gaap Increase Decrease In Accrued Liabilities
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25423000 USD
us-gaap Increase Decrease In Accrued Liabilities
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26538000 USD
us-gaap Increase Decrease In Customer Advances
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-14538000 USD
us-gaap Increase Decrease In Customer Advances
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-15504000 USD
us-gaap Increase Decrease In Customer Deposits
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1503000 USD
us-gaap Increase Decrease In Customer Deposits
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-1904000 USD
us-gaap Increase Decrease In Deferred Gas Cost
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1317000 USD
us-gaap Increase Decrease In Deferred Gas Cost
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us-gaap Increase Decrease In Inventories
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-15699000 USD
us-gaap Increase Decrease In Inventories
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-18832000 USD
us-gaap Increase Decrease In Margin Deposits Outstanding
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658000 USD
us-gaap Increase Decrease In Margin Deposits Outstanding
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542000 USD
us-gaap Increase Decrease In Other Current Assets
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us-gaap Increase Decrease In Other Current Assets
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1185000 USD
us-gaap Increase Decrease In Other Operating Assets
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3548000 USD
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10770000 USD
us-gaap Increase Decrease In Receivables
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15885000 USD
us-gaap Increase Decrease In Receivables
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35021000 USD
us-gaap Increase Decrease In Regulatory Clause Revenue
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-6467000 USD
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2680000 USD
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1006000 USD
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2742000 USD
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2844000 USD
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us-gaap Interest Income Domestic Deposits
InterestIncomeDomesticDeposits
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34693000 USD
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CY2018Q2 us-gaap Liabilities Noncurrent
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CY2017Q3 us-gaap Long Term Debt
LongTermDebt
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CY2018Q2 us-gaap Long Term Debt
LongTermDebt
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LongTermDebtCurrent
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CY2018Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
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LongTermDebtNoncurrent
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LongTermDebtNoncurrent
1835582000 USD
CY2018Q2 us-gaap Loss Contingency Estimate Of Possible Loss
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7700000 USD
CY2017Q3 us-gaap Margin Deposit Assets
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CY2018Q2 us-gaap Margin Deposit Assets
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2283000 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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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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551130000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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517541000 USD
CY2017Q2 us-gaap Net Income Loss
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us-gaap Net Income Loss
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237906000 USD
CY2018Q2 us-gaap Net Income Loss
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63025000 USD
us-gaap Net Income Loss
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5
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OperatingExpenses
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us-gaap Operating Expenses
OperatingExpenses
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OperatingExpenses
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us-gaap Operating Expenses
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OperatingIncomeLoss
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us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2018Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
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us-gaap Operating Income Loss
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us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
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us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
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OtherComprehensiveIncomeLossBeforeTax
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OtherComprehensiveIncomeLossBeforeTax
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OtherComprehensiveIncomeLossNetOfTax
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CY2017Q2 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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741000 USD
CY2018Q2 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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430000 USD
CY2017Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax
0 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax
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CY2018Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax
0 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax
158000 USD
CY2017Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesBeforeTax
18452000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Before Tax
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59641000 USD
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Before Tax
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OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesTax
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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 Before Tax
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OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax
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1437000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
2280000 USD
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OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
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us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
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OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
532000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
832000 USD
CY2018Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
42000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
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us-gaap Other Nonoperating Income
OtherNonoperatingIncome
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OtherNonoperatingIncome
999000 USD
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
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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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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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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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CY2017Q3 us-gaap Pension And Other Postretirement And Postemployment Benefit Plans Liabilities Noncurrent
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us-gaap Proceeds From Sale Of Oil And Gas Property And Equipment
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PropertyPlantAndEquipmentGross
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CY2017Q2 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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2411000 USD
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RegulatoryAssetsNoncurrent
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RegulatoryLiabilityNoncurrent
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us-gaap Remaining Recovery Period Of Regulatory Assets For Which No Return On Investment During Recovery Period Is Provided1
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P4Y
us-gaap Repayments Of Long Term Debt
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0 USD
us-gaap Repayments Of Long Term Debt
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CY2016Q3 us-gaap Retained Earnings Accumulated Deficit
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CY2017Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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RetainedEarningsAccumulatedDeficit
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RetainedEarningsAccumulatedDeficit
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CY2018Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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RetainedEarningsAccumulatedDeficit
1097438000 USD
CY2017Q2 us-gaap Revenues
Revenues
348368000 USD
us-gaap Revenues
Revenues
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Revenues
342912000 USD
us-gaap Revenues
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us-gaap Share Based Compensation
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us-gaap Share Based Compensation
ShareBasedCompensation
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CY2017Q3 us-gaap Short Term Borrowings
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CY2018Q2 us-gaap Short Term Borrowings
ShortTermBorrowings
0 USD
us-gaap Stock Issued During Period Shares Dividend Reinvestment Plan
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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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us-gaap Stock Repurchased During Period Shares
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CY2017Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2018Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2017Q2 us-gaap Taxes Excluding Income And Excise Taxes
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us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
64368000 USD
CY2018Q2 us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
20595000 USD
us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
64245000 USD
us-gaap Unrealized Gain Loss On Price Risk Cash Flow Derivatives Before Tax
UnrealizedGainLossOnPriceRiskCashFlowDerivativesBeforeTax
-25600000 USD
CY2017Q3 us-gaap Unrecovered Costs For Purchased Gas Amount
UnrecoveredCostsForPurchasedGasAmount
4623000 USD
CY2018Q2 us-gaap Unrecovered Costs For Purchased Gas Amount
UnrecoveredCostsForPurchasedGasAmount
0 USD
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
86064464 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
85950742 shares
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
86501194 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
86370900 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
85422313 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
85315154 shares
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
85930289 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
85789279 shares

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