| Segment Information |
Note 12: Segment Information
The Company operates its businesses primarily through one reportable segment, the Regulated Businesses segment. The Company also operates businesses that provide a broad range of related and complementary water and wastewater services in non-regulated markets, which includes four operating segments that individually do not meet the criteria of a reportable segment. These four non-reportable operating segments are collectively presented as our “Market-Based Businesses”. “Other” includes corporate costs that are not allocated to the Company’s operating segments, eliminations of inter-segment transactions, fair value adjustments and associated income and deductions related to acquisitions that have not been allocated to the operating segments for evaluation of performance and allocation of resource purposes. The following tables include the Company’s summarized segment information:
|
|
As of or for the Three Months Ended September 30, 2016 |
|
|
|
Regulated
Businesses |
|
|
Market-Based
Businesses |
|
|
Other |
|
|
Consolidated |
|
|
Operating revenues |
$ |
826 |
|
|
$ |
109 |
|
|
$ |
(5 |
) |
|
$ |
930 |
|
|
Depreciation and amortization |
|
111 |
|
|
|
4 |
|
|
|
4 |
|
|
|
119 |
|
|
Total operating expenses, net |
|
521 |
|
|
|
98 |
|
|
|
(8 |
) |
|
|
611 |
|
|
Interest, net |
|
(64 |
) |
|
|
— |
|
|
|
(17 |
) |
|
|
(81 |
) |
|
Income from continuing operations before income taxes |
|
246 |
|
|
|
12 |
|
|
|
(15 |
) |
|
|
243 |
|
|
Provision for income taxes |
|
94 |
|
|
|
5 |
|
|
|
(4 |
) |
|
|
95 |
|
|
Net income attributable to common stockholders |
|
152 |
|
|
|
7 |
|
|
|
(11 |
) |
|
|
148 |
|
|
Total assets |
|
16,020 |
|
|
|
545 |
|
|
|
1,406 |
|
|
|
17,971 |
|
|
|
As of or for the Three Months Ended September 30, 2015 |
|
|
|
Regulated
Businesses |
|
|
Market-Based
Businesses |
|
|
Other |
|
|
Consolidated |
|
|
Operating revenues |
$ |
781 |
|
|
$ |
121 |
|
|
$ |
(6 |
) |
|
$ |
896 |
|
|
Depreciation and amortization |
|
104 |
|
|
|
2 |
|
|
|
5 |
|
|
|
111 |
|
|
Total operating expenses, net |
|
439 |
|
|
|
101 |
|
|
|
(5 |
) |
|
|
535 |
|
|
Interest, net |
|
(63 |
) |
|
|
— |
|
|
|
(14 |
) |
|
|
(77 |
) |
|
Income from continuing operations before income taxes |
|
283 |
|
|
|
20 |
|
|
|
(16 |
) |
|
|
287 |
|
|
Provision for income taxes |
|
109 |
|
|
|
8 |
|
|
|
(4 |
) |
|
|
113 |
|
|
Net income attributable to common stockholders |
|
174 |
|
|
|
12 |
|
|
|
(12 |
) |
|
|
174 |
|
|
Total assets (a) |
|
15,091 |
|
|
|
498 |
|
|
|
1,396 |
|
|
|
16,985 |
|
|
|
As of or for the Nine Months Ended September 30, 2016 |
|
|
|
Regulated
Businesses |
|
|
Market-Based
Businesses |
|
|
Other |
|
|
Consolidated |
|
|
Operating revenues |
$ |
2,176 |
|
|
$ |
338 |
|
|
$ |
(14 |
) |
|
$ |
2,500 |
|
|
Depreciation and amortization |
|
328 |
|
|
|
11 |
|
|
|
11 |
|
|
|
350 |
|
|
Total operating expenses, net |
|
1,385 |
|
|
|
300 |
|
|
|
(17 |
) |
|
|
1,668 |
|
|
Interest, net |
|
(191 |
) |
|
|
1 |
|
|
|
(52 |
) |
|
|
(242 |
) |
|
Income from continuing operations before income taxes |
|
610 |
|
|
|
44 |
|
|
|
(50 |
) |
|
|
604 |
|
|
Provision for income taxes |
|
236 |
|
|
|
18 |
|
|
|
(17 |
) |
|
|
237 |
|
|
Net income attributable to common stockholders |
|
374 |
|
|
|
26 |
|
|
|
(33 |
) |
|
|
367 |
|
|
Total assets |
|
16,020 |
|
|
|
545 |
|
|
|
1,406 |
|
|
|
17,971 |
|
|
|
As of or for the Nine Months Ended September 30, 2015 |
|
|
|
Regulated
Businesses |
|
|
Market-Based
Businesses |
|
|
Other |
|
|
Consolidated |
|
|
Operating revenues |
$ |
2,083 |
|
|
$ |
308 |
|
|
$ |
(15 |
) |
|
$ |
2,376 |
|
|
Depreciation and amortization |
|
306 |
|
|
|
4 |
|
|
|
17 |
|
|
|
327 |
|
|
Total operating expenses, net |
|
1,291 |
|
|
|
260 |
|
|
|
(18 |
) |
|
|
1,533 |
|
|
Interest, net |
|
(185 |
) |
|
|
1 |
|
|
|
(44 |
) |
|
|
(228 |
) |
|
Income from continuing operations before income taxes |
|
616 |
|
|
|
50 |
|
|
|
(42 |
) |
|
|
624 |
|
|
Provision for income taxes |
|
239 |
|
|
|
19 |
|
|
|
(11 |
) |
|
|
247 |
|
|
Net income attributable to common stockholders |
|
377 |
|
|
|
31 |
|
|
|
(31 |
) |
|
|
377 |
|
|
Total assets (a) |
|
15,091 |
|
|
|
498 |
|
|
|
1,396 |
|
|
|
16,985 |
|
|
(a) |
The information has been revised to reflect the retrospective application of ASU 2015-15 Presentation of Debt Issuance Costs and ASU 2015-17 Income Taxes, which were early adopted in 2015. |
|