2024 Q2 Form 10-Q Financial Statement

#000173399824000075 Filed on May 06, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q1
Revenue $211.7M $433.5M $462.4M
YoY Change -10.99% -6.26% 32.01%
Cost Of Revenue $82.18M $194.0M $224.8M
YoY Change -26.37% -13.71% 41.42%
Gross Profit $129.5M $239.5M $237.6M
YoY Change 2.61% 0.79% 24.19%
Gross Profit Margin 61.18% 55.25% 51.39%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $33.76M $33.10M $31.47M
YoY Change 7.89% 5.19% 10.68%
% of Gross Profit 26.06% 13.82% 13.24%
Operating Expenses $196.0M $323.6M $348.9M
YoY Change 74.39% -7.24% 32.84%
Operating Profit $15.71M $109.8M $113.5M
YoY Change 13.46% -3.24% 29.52%
Interest Expense -$19.31M -$20.53M -$18.30M
YoY Change 1.78% 12.22% 58.79%
% of Operating Profit -122.95% -18.69% -16.12%
Other Income/Expense, Net $6.000K -$1.134M $1.606M
YoY Change -99.91% -170.61% -268.34%
Pretax Income -$3.599M $88.16M $96.82M
YoY Change -342.03% -8.94% 28.81%
Income Tax -$812.0K $24.34M $25.15M
% Of Pretax Income 27.61% 25.97%
Net Earnings -$2.787M $63.82M $71.67M
YoY Change -324.04% -10.95% 27.44%
Net Earnings / Revenue -1.32% 14.72% 15.5%
Basic Earnings Per Share -$0.07 $1.69 $2.01
Diluted Earnings Per Share -$0.07 $1.69 $2.01
COMMON SHARES
Basic Shares Outstanding 38.03M shares 37.68M shares 35.54M shares
Diluted Shares Outstanding 38.26M shares 37.80M shares 35.71M shares

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $65.19M $72.38M $140.8M
YoY Change -52.68% -48.6% 478.91%
Cash & Equivalents $65.19M $72.38M $140.8M
Short-Term Investments
Other Short-Term Assets $37.54M $49.90M $41.97M
YoY Change -79.37% 18.89% -0.85%
Inventory $107.3M $99.87M $41.39M
Prepaid Expenses
Receivables $58.06M $124.3M $157.4M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $423.1M $537.7M $576.2M
YoY Change -7.59% -6.67% 47.22%
LONG-TERM ASSETS
Property, Plant & Equipment $3.530B $3.442B $3.156B
YoY Change 3.38% 9.05% 8.65%
Goodwill $163.2M $163.0M $149.8M
YoY Change 6.88% 8.81% 112.18%
Intangibles
YoY Change
Long-Term Investments $83.80M $84.08M $93.61M
YoY Change -19.68% -10.18% -2.76%
Other Assets $112.7M $111.1M $97.79M
YoY Change -72.3% 13.63% 30.52%
Total Long-Term Assets $4.399B $4.311B $4.016B
YoY Change 7.86% 7.36% 9.63%
TOTAL ASSETS
Total Short-Term Assets $423.1M $537.7M $576.2M
Total Long-Term Assets $4.399B $4.311B $4.016B
Total Assets $4.822B $4.849B $4.592B
YoY Change 6.3% 5.6% 13.26%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $93.56M $107.9M $111.2M
YoY Change -7.7% -2.94% -14.86%
Accrued Expenses $19.98M $18.41M $14.79M
YoY Change 51.66% 24.5% 21.33%
Deferred Revenue
YoY Change
Short-Term Debt $79.00M $94.70M $72.50M
YoY Change 92.68% 30.62% -78.2%
Long-Term Debt Due $866.0K $869.0K $240.7M
YoY Change -99.64% -99.64% 70906.49%
Total Short-Term Liabilities $435.5M $468.3M $644.1M
YoY Change -23.71% -27.28% -2.16%
LONG-TERM LIABILITIES
Long-Term Debt $1.575B $1.575B $1.295B
YoY Change 21.64% 21.64% 23.92%
Other Long-Term Liabilities $122.4M $120.2M $118.0M
YoY Change -88.35% 1.9% 4.64%
Total Long-Term Liabilities $1.697B $1.695B $1.413B
YoY Change -27.64% 19.99% 22.05%
TOTAL LIABILITIES
Total Short-Term Liabilities $435.5M $468.3M $644.1M
Total Long-Term Liabilities $1.697B $1.695B $1.413B
Total Liabilities $2.133B $2.163B $2.057B
YoY Change -35.3% 5.18% 13.27%
SHAREHOLDERS EQUITY
Retained Earnings $423.7M $445.1M $430.6M
YoY Change 2.25% 3.36% 8.53%
Common Stock $929.5M $905.2M $824.3M
YoY Change 11.83% 9.81% 36.84%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.347B $1.343B $1.248B
YoY Change
Total Liabilities & Shareholders Equity $4.822B $4.849B $4.592B
YoY Change 6.3% 5.6% 13.26%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q1
OPERATING ACTIVITIES
Net Income -$2.787M $63.82M $71.67M
YoY Change -324.04% -10.95% 27.44%
Depreciation, Depletion And Amortization $33.76M $33.10M $31.47M
YoY Change 7.89% 5.19% 10.68%
Cash From Operating Activities $121.0M $125.0M $176.9M
YoY Change 0.04% -29.3% 25.4%
INVESTING ACTIVITIES
Capital Expenditures $116.7M $82.22M $71.27M
YoY Change 58.58% 15.37% -204.02%
Acquisitions $0.00 $468.0K
YoY Change -100.0%
Other Investing Activities -$1.241M -$729.0K $1.285M
YoY Change -74.8% -156.73% -10.2%
Cash From Investing Activities -$118.0M -$82.49M -$73.02M
YoY Change 50.22% 12.97% 4.69%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $150.0M $0.00
YoY Change
Cash From Financing Activities -11.30M -$2.917M $11.19M
YoY Change -73.95% -126.07% -117.82%
NET CHANGE
Cash From Operating Activities 121.0M $125.0M $176.9M
Cash From Investing Activities -118.0M -$82.49M -$73.02M
Cash From Financing Activities -11.30M -$2.917M $11.19M
Net Change In Cash -8.219M $39.63M $115.0M
YoY Change 802.2% -65.54% 1249.64%
FREE CASH FLOW
Cash From Operating Activities $121.0M $125.0M $176.9M
Capital Expenditures $116.7M $82.22M $71.27M
Free Cash Flow $4.325M $42.82M $105.6M
YoY Change -90.87% -59.45% -49.61%

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CY2024Q1 us-gaap Lessor Operating Lease Payments To Be Received Thereafter
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CY2024Q1 nwn Lease Paymentstobe Received Thereafter
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CY2024Q1 us-gaap Lessor Operating Lease Payments To Be Received
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2172000 usd
CY2024Q1 nwn Lease Paymentstobe Received
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281001000 usd
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ResidualValueOfLeasedAsset
5600000 usd
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ResidualValueOfLeasedAsset
5500000 usd
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P12M
CY2024Q1 us-gaap Operating Lease Expense
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ShortTermLeaseCost
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P16Y
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CY2024Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
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CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
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LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
7538000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
7514000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
7645000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
7725000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
101278000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
137511000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
58407000 usd
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
79104000 usd
CY2024Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2053000 usd
CY2024Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
77051000 usd
CY2024Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
1855000 usd
CY2023Q1 us-gaap Operating Lease Payments
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1806000 usd
CY2024Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
97000 usd
CY2023Q1 us-gaap Finance Lease Principal Payments
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173000 usd
CY2024Q1 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
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CY2023Q1 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
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263000 usd
CY2024Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
0 usd
CY2024Q1 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
2700000 usd
CY2023Q1 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
2400000 usd
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FinanceLeaseRightOfUseAsset
2600000 usd
CY2024Q1 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
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FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
0 usd
CY2024Q1 us-gaap Short Term Borrowings
ShortTermBorrowings
94700000 usd
CY2023Q1 us-gaap Short Term Borrowings
ShortTermBorrowings
72500000 usd
CY2023Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
89800000 usd
CY2024Q1 us-gaap Other Long Term Debt
OtherLongTermDebt
6500000 usd
CY2023Q1 us-gaap Other Long Term Debt
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6000000.0 usd
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DebtInstrumentCarryingAmount
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LongTermDebtCurrentMaturitiesGross
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LongTermDebtCurrentMaturitiesGross
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LongTermDebtCurrentMaturitiesGross
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DebtInstrumentCarryingAmount
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DebtInstrumentCarryingAmount
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CY2024Q1 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
10585000 usd
CY2023Q1 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
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UnamortizedDebtIssuanceExpense
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LongTermDebt
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CY2023Q1 us-gaap Long Term Debt
LongTermDebt
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LongTermDebt
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DebtInstrumentFairValue
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CY2023Q1 us-gaap Debt Instrument Fair Value
DebtInstrumentFairValue
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DebtInstrumentFairValue
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PensionAndOtherPostretirementBenefitContributions
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DefinedBenefitPlanExpectedFutureEmployerContributionsRemainderOfFiscalYear
20600000 usd
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DefinedContributionPlanCostRecognized
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CY2023Q1 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
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CY2024Q1 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
18514000 usd
CY2023Q1 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
20332000 usd
CY2024Q1 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
7577000 usd
CY2023Q1 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
8149000 usd
CY2024Q1 nwn Other Tax Expense Benefitdifferencestobeflowedthroughbyregulatorycommissions
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OtherTaxExpenseBenefitdifferencestobeflowedthroughbyregulatorycommissions
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CY2024Q1 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
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CY2023Q1 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
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CY2024Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
24339000 usd
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
25147000 usd
CY2024Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.276
CY2023Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.260
CY2024Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3441524000 usd
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3155978000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3358054000 usd
CY2024Q1 us-gaap Life Insurance Corporate Or Bank Owned Amount
LifeInsuranceCorporateOrBankOwnedAmount
45937000 usd
CY2023Q1 us-gaap Life Insurance Corporate Or Bank Owned Amount
LifeInsuranceCorporateOrBankOwnedAmount
47666000 usd
CY2023Q4 us-gaap Life Insurance Corporate Or Bank Owned Amount
LifeInsuranceCorporateOrBankOwnedAmount
45713000 usd
CY2024Q1 us-gaap Inventory Gas In Storage Underground Noncurrent
InventoryGasInStorageUndergroundNoncurrent
20406000 usd
CY2023Q1 us-gaap Inventory Gas In Storage Underground Noncurrent
InventoryGasInStorageUndergroundNoncurrent
22229000 usd
CY2023Q4 us-gaap Inventory Gas In Storage Underground Noncurrent
InventoryGasInStorageUndergroundNoncurrent
20893000 usd
CY2024Q1 us-gaap Equity Method Investment Aggregate Cost
EquityMethodInvestmentAggregateCost
17738000 usd
CY2023Q1 us-gaap Equity Method Investment Aggregate Cost
EquityMethodInvestmentAggregateCost
23716000 usd
CY2023Q4 us-gaap Equity Method Investment Aggregate Cost
EquityMethodInvestmentAggregateCost
36345000 usd
CY2024Q1 us-gaap Other Long Term Investments
OtherLongTermInvestments
84081000 usd
CY2023Q1 us-gaap Other Long Term Investments
OtherLongTermInvestments
93611000 usd
CY2023Q4 us-gaap Other Long Term Investments
OtherLongTermInvestments
102951000 usd
CY2024Q1 nwn Total Cumulative Gas Reserves Investment
TotalCumulativeGasReservesInvestment
188000000 usd
CY2024Q1 nwn Deferred Taxes Related To Gas Reserves
DeferredTaxesRelatedToGasReserves
3800000 usd
CY2023Q1 nwn Deferred Taxes Related To Gas Reserves
DeferredTaxesRelatedToGasReserves
4400000 usd
CY2023Q4 nwn Deferred Taxes Related To Gas Reserves
DeferredTaxesRelatedToGasReserves
4000000 usd
CY2024Q1 us-gaap Deferred Gas Cost
DeferredGasCost
2200000 usd
CY2023Q1 us-gaap Deferred Gas Cost
DeferredGasCost
3300000 usd
CY2023Q4 us-gaap Deferred Gas Cost
DeferredGasCost
2300000 usd
us-gaap Number Of Businesses Acquired
NumberOfBusinessesAcquired
5 numberofconnections
us-gaap Business Combination Consideration Transferred1
BusinessCombinationConsiderationTransferred1
22800000 usd
CY2024Q1 us-gaap Goodwill
Goodwill
163000000 usd
CY2023Q1 us-gaap Goodwill
Goodwill
149800000 usd
CY2023Q4 us-gaap Goodwill
Goodwill
163300000 usd
CY2024Q1 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 usd
CY2024Q1 us-gaap Derivative Loss On Derivative
DerivativeLossOnDerivative
50500000 usd
CY2024Q1 us-gaap Derivative Gain On Derivative
DerivativeGainOnDerivative
172400000 usd
CY2024Q1 us-gaap Derivative Credit Risk Valuation Adjustment Derivative Liabilities
DerivativeCreditRiskValuationAdjustmentDerivativeLiabilities
300000 usd
CY2024Q1 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
-57300000 usd
CY2023Q1 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
-49900000 usd
CY2023Q4 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
-115200000 usd
CY2024Q1 us-gaap Aoci Loss Cash Flow Hedge Cumulative Gain Loss After Tax
AociLossCashFlowHedgeCumulativeGainLossAfterTax
500000 usd
CY2023Q4 us-gaap Aoci Loss Cash Flow Hedge Cumulative Gain Loss After Tax
AociLossCashFlowHedgeCumulativeGainLossAfterTax
200000 usd
CY2024Q1 us-gaap Derivative Instruments Gain Reclassified From Accumulated Oci Into Income Effective Portion
DerivativeInstrumentsGainReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortion
400000 usd
CY2024Q1 us-gaap Accrued Environmental Loss Contingencies Current
AccruedEnvironmentalLossContingenciesCurrent
27388000 usd
CY2023Q1 us-gaap Accrued Environmental Loss Contingencies Current
AccruedEnvironmentalLossContingenciesCurrent
25187000 usd
CY2023Q4 us-gaap Accrued Environmental Loss Contingencies Current
AccruedEnvironmentalLossContingenciesCurrent
32454000 usd
CY2024Q1 us-gaap Accrued Environmental Loss Contingencies Noncurrent
AccruedEnvironmentalLossContingenciesNoncurrent
86071000 usd
CY2023Q1 us-gaap Accrued Environmental Loss Contingencies Noncurrent
AccruedEnvironmentalLossContingenciesNoncurrent
89110000 usd
CY2023Q4 us-gaap Accrued Environmental Loss Contingencies Noncurrent
AccruedEnvironmentalLossContingenciesNoncurrent
89173000 usd
CY2023Q4 nwn Remediation Nonrecovery Percentage
RemediationNonrecoveryPercentage
0.033
CY2024Q1 nwn Remediation Nonrecovery Percentage
RemediationNonrecoveryPercentage
0.033
CY2023Q1 nwn Remediation Nonrecovery Percentage
RemediationNonrecoveryPercentage
0.033
CY2024Q1 nwn Annual Tariff Rider Collection
AnnualTariffRiderCollection
5000000 usd
CY2024Q1 nwn Annual Tariff Rider Collection
AnnualTariffRiderCollection
5000000 usd
CY2024Q1 nwn Annual Insurance Proceedsto Apply Against Remediation Costs
AnnualInsuranceProceedstoApplyAgainstRemediationCosts
5000000 usd
CY2024Q1 nwn Total Annual Remediation Expenseand Interest
TotalAnnualRemediationExpenseandInterest
10000000 usd
CY2024Q1 dei Entity File Number
EntityFileNumber
1-38681
CY2024Q1 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2024Q1 dei Entity Small Business
EntitySmallBusiness
false
CY2024Q1 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
CY2024Q1 dei Entity Shell Company
EntityShellCompany
false
CY2024Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2023Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2023Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
35929228 shares

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