2023 Q2 Form 10-Q Financial Statement

#000173399823000016 Filed on May 04, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1
Revenue $237.9M $462.4M
YoY Change 22.0% 32.01%
Cost Of Revenue $111.6M $224.8M
YoY Change 26.9% 41.42%
Gross Profit $126.2M $237.6M
YoY Change 17.98% 24.19%
Gross Profit Margin 53.07% 51.39%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $31.29M $31.47M
YoY Change 11.32% 10.68%
% of Gross Profit 24.79% 13.24%
Operating Expenses $112.4M $348.9M
YoY Change -38.05% 32.84%
Operating Profit $13.84M $113.5M
YoY Change 2.25% 29.52%
Interest Expense -$18.97M -$18.30M
YoY Change 63.85% 58.79%
% of Operating Profit -137.07% -16.12%
Other Income/Expense, Net $6.618M $1.606M
YoY Change 2828.32% -268.34%
Pretax Income $1.487M $96.82M
YoY Change -31.95% 28.81%
Income Tax $243.0K $25.15M
% Of Pretax Income 16.34% 25.97%
Net Earnings $1.244M $71.67M
YoY Change -27.46% 27.44%
Net Earnings / Revenue 0.52% 15.5%
Basic Earnings Per Share $0.03 $2.01
Diluted Earnings Per Share $0.03 $2.01
COMMON SHARES
Basic Shares Outstanding 35.97M shares 35.54M shares
Diluted Shares Outstanding 36.06M shares 35.71M shares

Balance Sheet

Concept 2023 Q2 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $137.8M $140.8M
YoY Change 700.51% 478.91%
Cash & Equivalents $137.8M $140.8M
Short-Term Investments
Other Short-Term Assets $182.0M $41.97M
YoY Change 404.61% -0.85%
Inventory $67.50M $41.39M
Prepaid Expenses
Receivables $70.63M $157.4M
Other Receivables $0.00 $0.00
Total Short-Term Assets $457.9M $576.2M
YoY Change 27.9% 47.22%
LONG-TERM ASSETS
Property, Plant & Equipment $3.415B $3.156B
YoY Change 14.64% 8.65%
Goodwill $152.7M $149.8M
YoY Change 115.98% 112.18%
Intangibles
YoY Change
Long-Term Investments $104.3M $93.61M
YoY Change 8.65% -2.76%
Other Assets $406.9M $97.79M
YoY Change 437.58% 30.52%
Total Long-Term Assets $4.079B $4.016B
YoY Change 8.99% 9.63%
TOTAL ASSETS
Total Short-Term Assets $457.9M $576.2M
Total Long-Term Assets $4.079B $4.016B
Total Assets $4.537B $4.592B
YoY Change 10.64% 13.26%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $101.4M $111.2M
YoY Change -25.11% -14.86%
Accrued Expenses $13.18M $14.79M
YoY Change 50.74% 21.33%
Deferred Revenue
YoY Change
Short-Term Debt $41.00M $72.50M
YoY Change -81.59% -78.2%
Long-Term Debt Due $240.7M $240.7M
YoY Change 68479.49% 70906.49%
Total Short-Term Liabilities $570.9M $644.1M
YoY Change 5.87% -2.16%
LONG-TERM LIABILITIES
Long-Term Debt $1.295B $1.295B
YoY Change 23.82% 23.92%
Other Long-Term Liabilities $1.051B $118.0M
YoY Change 840.75% 4.64%
Total Long-Term Liabilities $2.345B $1.413B
YoY Change 102.68% 22.05%
TOTAL LIABILITIES
Total Short-Term Liabilities $570.9M $644.1M
Total Long-Term Liabilities $2.345B $1.413B
Total Liabilities $3.296B $2.057B
YoY Change 94.3% 13.27%
SHAREHOLDERS EQUITY
Retained Earnings $414.4M $430.6M
YoY Change 8.49% 8.53%
Common Stock $831.1M $824.3M
YoY Change 8.25% 36.84%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.240B $1.248B
YoY Change
Total Liabilities & Shareholders Equity $4.537B $4.592B
YoY Change 10.64% 13.26%

Cashflow Statement

Concept 2023 Q2 2023 Q1
OPERATING ACTIVITIES
Net Income $1.244M $71.67M
YoY Change -27.46% 27.44%
Depreciation, Depletion And Amortization $31.29M $31.47M
YoY Change 11.32% 10.68%
Cash From Operating Activities $121.0M $176.9M
YoY Change 117.9% 25.4%
INVESTING ACTIVITIES
Capital Expenditures $73.60M $71.27M
YoY Change -174.2% -204.02%
Acquisitions $468.0K
YoY Change
Other Investing Activities -$4.924M $1.285M
YoY Change 552.19% -10.2%
Cash From Investing Activities -$78.52M -$73.02M
YoY Change -21.43% 4.69%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $0.00
YoY Change
Cash From Financing Activities -43.38M $11.19M
YoY Change -211.8% -117.82%
NET CHANGE
Cash From Operating Activities 121.0M $176.9M
Cash From Investing Activities -78.52M -$73.02M
Cash From Financing Activities -43.38M $11.19M
Net Change In Cash -911.0K $115.0M
YoY Change -83.76% 1249.64%
FREE CASH FLOW
Cash From Operating Activities $121.0M $176.9M
Capital Expenditures $73.60M $71.27M
Free Cash Flow $47.40M $105.6M
YoY Change -69.37% -49.61%

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CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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CY2022Q1 us-gaap Operating Lease Payments
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DebtInstrumentCarryingAmount
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UnamortizedDebtIssuanceExpense
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LongTermDebtCurrentMaturitiesGross
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CY2023Q1 us-gaap Long Term Debt Noncurrent
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CY2023Q1 us-gaap Defined Benefit Plan Expected Future Employer Contributions Remainder Of Fiscal Year
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CY2022Q1 us-gaap Defined Contribution Plan Cost Recognized
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CY2023Q1 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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CY2023Q1 us-gaap Income Tax Reconciliation State And Local Income Taxes
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CY2022Q1 us-gaap Income Tax Reconciliation State And Local Income Taxes
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CY2022Q1 nwn Other Tax Expense Benefitdifferencestobeflowedthroughbyregulatorycommissions
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CY2023Q1 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
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CY2022Q1 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
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CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
25147000 usd
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
18923000 usd
CY2023Q1 us-gaap Effective Income Tax Rate Continuing Operations
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0.260
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CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3155978000 usd
CY2022Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2904756000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
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CY2022Q4 us-gaap Life Insurance Corporate Or Bank Owned Amount
LifeInsuranceCorporateOrBankOwnedAmount
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CY2023Q1 us-gaap Inventory Gas In Storage Underground Noncurrent
InventoryGasInStorageUndergroundNoncurrent
22229000 usd
CY2022Q1 us-gaap Inventory Gas In Storage Underground Noncurrent
InventoryGasInStorageUndergroundNoncurrent
25364000 usd
CY2022Q4 us-gaap Inventory Gas In Storage Underground Noncurrent
InventoryGasInStorageUndergroundNoncurrent
22970000 usd
CY2023Q1 us-gaap Equity Method Investment Aggregate Cost
EquityMethodInvestmentAggregateCost
23716000 usd
CY2022Q1 us-gaap Equity Method Investment Aggregate Cost
EquityMethodInvestmentAggregateCost
22416000 usd
CY2022Q4 us-gaap Equity Method Investment Aggregate Cost
EquityMethodInvestmentAggregateCost
23376000 usd
CY2023Q1 us-gaap Other Long Term Investments
OtherLongTermInvestments
93611000 usd
CY2022Q1 us-gaap Other Long Term Investments
OtherLongTermInvestments
96266000 usd
CY2022Q4 us-gaap Other Long Term Investments
OtherLongTermInvestments
95704000 usd
CY2023Q1 nwn Total Cumulative Gas Reserves Investment
TotalCumulativeGasReservesInvestment
188000000 usd
CY2023Q1 nwn Deferred Taxes Related To Gas Reserves
DeferredTaxesRelatedToGasReserves
4400000 usd
CY2022Q1 nwn Deferred Taxes Related To Gas Reserves
DeferredTaxesRelatedToGasReserves
11000000 usd
CY2022Q4 nwn Deferred Taxes Related To Gas Reserves
DeferredTaxesRelatedToGasReserves
5200000 usd
CY2023Q1 us-gaap Deferred Gas Cost
DeferredGasCost
3300000 usd
CY2022Q1 us-gaap Deferred Gas Cost
DeferredGasCost
5200000 usd
CY2022Q4 us-gaap Deferred Gas Cost
DeferredGasCost
3400000 usd
CY2023Q1 nwn Investments Number Of Rng Development Projects
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4 numberofprojects
CY2023Q1 us-gaap Business Combination Consideration Transferred1
BusinessCombinationConsiderationTransferred1
105700000 usd
CY2023Q1 us-gaap Goodwill
Goodwill
149800000 usd
CY2022Q1 us-gaap Goodwill
Goodwill
70600000 usd
CY2022Q4 us-gaap Goodwill
Goodwill
149300000 usd
CY2023Q1 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 usd
CY2023Q1 us-gaap Accrued Environmental Loss Contingencies Noncurrent
AccruedEnvironmentalLossContingenciesNoncurrent
89110000 usd
CY2022Q1 us-gaap Accrued Environmental Loss Contingencies Noncurrent
AccruedEnvironmentalLossContingenciesNoncurrent
86830000 usd
CY2023Q1 us-gaap Derivative Gain On Derivative
DerivativeGainOnDerivative
172400000 usd
CY2022Q1 us-gaap Derivative Gain On Derivative
DerivativeGainOnDerivative
36000000 usd
CY2023Q1 us-gaap Derivative Credit Risk Valuation Adjustment Derivative Liabilities
DerivativeCreditRiskValuationAdjustmentDerivativeLiabilities
2400000 usd
CY2023Q1 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
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CY2022Q1 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
86900000 usd
CY2022Q4 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
149700000 usd
CY2023Q1 us-gaap Aoci Loss Cash Flow Hedge Cumulative Gain Loss After Tax
AociLossCashFlowHedgeCumulativeGainLossAfterTax
282000 usd
CY2023Q1 us-gaap Derivative Instruments Gain Reclassified From Accumulated Oci Into Income Effective Portion
DerivativeInstrumentsGainReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortion
0 usd
CY2023Q1 us-gaap Accrued Environmental Loss Contingencies Current
AccruedEnvironmentalLossContingenciesCurrent
25187000 usd
CY2022Q1 us-gaap Accrued Environmental Loss Contingencies Current
AccruedEnvironmentalLossContingenciesCurrent
22286000 usd
CY2022Q4 us-gaap Accrued Environmental Loss Contingencies Current
AccruedEnvironmentalLossContingenciesCurrent
28902000 usd
CY2022Q4 us-gaap Accrued Environmental Loss Contingencies Noncurrent
AccruedEnvironmentalLossContingenciesNoncurrent
89905000 usd
CY2022Q4 nwn Remediation Nonrecovery Percentage
RemediationNonrecoveryPercentage
0.033
CY2023Q1 nwn Remediation Nonrecovery Percentage
RemediationNonrecoveryPercentage
0.033
CY2022Q1 nwn Remediation Nonrecovery Percentage
RemediationNonrecoveryPercentage
0.033
CY2023Q1 nwn Annual Tariff Rider Collection
AnnualTariffRiderCollection
5000000 usd
CY2023Q1 nwn Annual Tariff Rider Collection
AnnualTariffRiderCollection
5000000 usd
CY2023Q1 nwn Annual Insurance Proceedsto Apply Against Remediation Costs
AnnualInsuranceProceedstoApplyAgainstRemediationCosts
5000000 usd
CY2023Q1 nwn Total Annual Remediation Expenseand Interest
TotalAnnualRemediationExpenseandInterest
10000000 usd

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