| Segment information included in Condensed Consolidated Balance Sheets |
Segment information was as follows (in thousands): | | | | | | | | Total Assets (net of inter-company eliminations) as of Dec. 31, | 2013 | 2012 | Utilities: | | | Electric (a) | $ | 2,525,947 |
| $ | 2,387,458 |
| Gas | 805,617 |
| 765,165 |
| Non-regulated Energy: | | | Power Generation (a) | 95,692 |
| 119,170 |
| Coal Mining | 78,825 |
| 83,810 |
| Oil and Gas | 288,366 |
| 258,460 |
| Corporate | 80,731 |
| 115,408 |
| Total assets | $ | 3,875,178 |
| $ | 3,729,471 |
|
__________________ | | (a) | The PPA under which Black Hills Colorado IPP provides generation to support Colorado Electric customers from the Pueblo Airport Generation station is accounted for as a capital lease. As such, assets owned by our Power Generation segment are recorded at Colorado Electric under accounting for a capital lease. |
| | | | | | | | Capital Expenditures and Asset Acquisitions(a) for the years ended Dec. 31, | 2013 | 2012 | Utilities: | | | Electric Utilities | $ | 222,262 |
| $ | 167,263 |
| Gas Utilities | 63,205 |
| 45,711 |
| Non-regulated Energy: | | | Power Generation | 13,533 |
| 5,547 |
| Coal Mining | 5,528 |
| 13,420 |
| Oil and Gas | 64,687 |
| 107,839 |
| Corporate | 10,319 |
| 7,376 |
| Total capital expenditures and asset acquisitions of continuing operations | 379,534 |
| 347,156 |
| Total capital expenditures of discontinued operations | — |
| 824 |
| Total capital expenditures and asset acquisitions | $ | 379,534 |
| $ | 347,980 |
|
_________________ | | (a) | Includes accruals for property, plant and equipment. |
| | | | | | | | Property, Plant and Equipment as of Dec. 31, | 2013 | 2012 | Utilities: | | | Electric Utilities (a) | $ | 2,464,603 |
| $ | 2,276,905 |
| Gas Utilities | 627,573 |
| 568,243 |
| Non-regulated Energy: | | | Power Generation (a) | 153,517 |
| 140,719 |
| Coal Mining | 150,223 |
| 155,068 |
| Oil and Gas | 852,384 |
| 785,594 |
| Corporate | 11,145 |
| 4,243 |
| Total property, plant and equipment | $ | 4,259,445 |
| $ | 3,930,772 |
|
_______________ | | (a) | The PPA under which Black Hills Colorado IPP provides generation to support Colorado Electric customers from the Pueblo Airport Generation station is accounted for as a capital lease. As such, assets owned by our Power Generation segment are recorded for at Colorado Electric under accounting for a capital lease. |
|
| Segment information included in Condensed Consolidated Statements of Income |
| | | | | | | | | | | | | | | | | | | | | | | | | | | Consolidating Income Statement | Year ended Dec. 31, 2013 | Electric Utilities | Gas Utilities | Power Generation | Coal Mining | Oil and Gas | Corporate | Inter-company Eliminations | Total | | | Revenue | $ | 651,445 |
| $ | 539,689 |
| $ | 4,648 |
| $ | 25,186 |
| $ | 54,884 |
| $ | — |
| $ | — |
| $ | 1,275,852 |
| Inter-company revenue | 13,863 |
| — |
| 78,389 |
| 31,442 |
| — |
| 220,620 |
| (344,314 | ) | — |
| Total revenue | 665,308 |
| 539,689 |
| 83,037 |
| 56,628 |
| 54,884 |
| 220,620 |
| (344,314 | ) | 1,275,852 |
| | | | | | | | | | Fuel, purchased power and cost of natural gas sold | 294,048 |
| 310,463 |
| — |
| — |
| — |
| 125 |
| (112,489 | ) | 492,147 |
| Operations and maintenance | 159,961 |
| 126,073 |
| 30,186 |
| 39,519 |
| 40,365 |
| 202,809 |
| (211,977 | ) | 386,936 |
| Gain on sale of operating assets | — |
| — |
| — |
| — |
| — |
| — |
| — |
| — |
| Depreciation, depletion and amortization | 77,704 |
| 26,381 |
| 5,091 |
| 11,523 |
| 21,770 |
| 11,624 |
| (12,876 | ) | 141,217 |
| Operating income (loss) | 133,595 |
| 76,772 |
| 47,760 |
| 5,586 |
| (7,251 | ) | 6,062 |
| (6,972 | ) | 255,552 |
| | | | | | | | | | Interest expense (a) | (61,537 | ) | (25,234 | ) | (21,178 | ) | (641 | ) | (2,253 | ) | (85,195 | ) | 84,250 |
| (111,788 | ) | Unrealized gain (loss) on interest rate swaps, net | — |
| — |
| — |
| — |
| — |
| 30,169 |
| — |
| 30,169 |
| Interest income | 5,277 |
| 976 |
| 785 |
| 10 |
| 1,639 |
| 69,760 |
| (76,724 | ) | 1,723 |
| Other income (expense), net | 633 |
| (60 | ) | 1 |
| 2,304 |
| 108 |
| 41,453 |
| (42,641 | ) | 1,798 |
| Income tax benefit (expense) | (25,834 | ) | (19,747 | ) | (11,080 | ) | (932 | ) | 3,545 |
| (7,778 | ) | 218 |
| (61,608 | ) | Income (loss) from continuing operations | $ | 52,134 |
| $ | 32,707 |
| $ | 16,288 |
| $ | 6,327 |
| $ | (4,212 | ) | $ | 54,471 |
| $ | (41,869 | ) | $ | 115,846 |
|
________________ | | (a) | Power Generation includes costs associated with interest rate swaps settled and write-off of deferred financing costs upon repayment of Black Hills Wyoming Project Financing and Corporate includes a the write-off of deferred financing costs and a make-whole provision from early repayment of long-term debt (see Note 5). |
| | | | | | | | | | | | | | | | | | | | | | | | | | | Consolidating Income Statement | Year ended Dec. 31, 2012 | Electric Utilities | Gas Utilities | Power Generation | Coal Mining | Oil and Gas | Corporate | Inter-company Eliminations | Total | | | Revenue | $ | 610,732 |
| $ | 454,081 |
| $ | 4,189 |
| $ | 25,810 |
| $ | 79,072 |
| $ | — |
| $ | — |
| $ | 1,173,884 |
| Inter-company revenue | 16,234 |
| — |
| 75,200 |
| 31,968 |
| — |
| 196,453 |
| (319,855 | ) | — |
| Total revenue | 626,966 |
| 454,081 |
| 79,389 |
| 57,778 |
| 79,072 |
| 196,453 |
| (319,855 | ) | 1,173,884 |
| | | | | | | | | | Fuel, purchased power and cost of natural gas sold | 273,474 |
| 245,349 |
| — |
| — |
| — |
| — |
| (111,757 | ) | 407,066 |
| Operations and maintenance | 146,527 |
| 117,390 |
| 29,991 |
| 42,553 |
| 43,267 |
| 179,059 |
| (188,051 | ) | 370,736 |
| Gain on sale of operating assets (a) | — |
| — |
| — |
| — |
| (29,129 | ) | — |
| — |
| (29,129 | ) | Depreciation, depletion and amortization | 75,244 |
| 25,163 |
| 4,599 |
| 13,060 |
| 38,494 |
| 10,936 |
| (12,864 | ) | 154,632 |
| Impairment of long-lived assets(b) | — |
| — |
| — |
| — |
| 26,868 |
| — |
| — |
| 26,868 |
| Operating income (loss) | 131,721 |
| 66,179 |
| 44,799 |
| 2,165 |
| (428 | ) | 6,458 |
| (7,183 | ) | 243,711 |
| | | | | | | | | | Interest expense (c) | (59,194 | ) | (26,746 | ) | (15,452 | ) | (238 | ) | (4,539 | ) | (92,650 | ) | 85,209 |
| (113,610 | ) | Unrealized gain (loss) on interest rate swaps, net | — |
| — |
| — |
| — |
| — |
| 1,882 |
| — |
| 1,882 |
| Interest income | 8,153 |
| 2,765 |
| 695 |
| 1,168 |
| 604 |
| 64,695 |
| (76,123 | ) | 1,957 |
| Other income (expense), net | 1,182 |
| 105 |
| 7 |
| 2,616 |
| 207 |
| 48,769 |
| (49,921 | ) | 2,965 |
| Income tax benefit (expense) | (30,264 | ) | (14,313 | ) | (8,721 | ) | (85 | ) | 1,927 |
| 3,187 |
| (131 | ) | (48,400 | ) | Income (loss) from continuing operations | $ | 51,598 |
| $ | 27,990 |
| $ | 21,328 |
| $ | 5,626 |
| $ | (2,229 | ) | $ | 32,341 |
| $ | (48,149 | ) | $ | 88,505 |
|
________________ | | (a) | Oil and Gas includes gain on sale of the Williston Basin assets (see Note 21). |
| | (b) | Oil and Gas includes a ceiling test impairment (see Note 12). |
| | (c) | Corporate includes a make-whole provision from early repayment of long-term debt (see Note 5). |
| | | | | | | | | | | | | | | | | | | | | | | | | | | Consolidating Income Statement | Year ended Dec. 31, 2011 | Electric Utilities | Gas Utilities | Power Generation | Coal Mining | Oil and Gas | Corporate | Inter-company Eliminations | Total | | | Revenue | $ | 600,935 |
| $ | 554,584 |
| $ | 4,059 |
| $ | 32,802 |
| $ | 79,808 |
| $ | — |
| $ | — |
| $ | 1,272,188 |
| Inter-company revenue | 13,396 |
| — |
| 27,613 |
| 34,090 |
| — |
| 192,250 |
| (267,349 | ) | — |
| Total revenue | 614,331 |
| 554,584 |
| 31,672 |
| 66,892 |
| 79,808 |
| 192,250 |
| (267,349 | ) | 1,272,188 |
| | | | | | | | | | Fuel, purchased power and cost of natural gas sold | 310,352 |
| 331,961 |
| — |
| — |
| — |
| 97 |
| (67,421 | ) | 574,989 |
| Operations and maintenance | 142,815 |
| 121,980 |
| 16,538 |
| 56,617 |
| 41,380 |
| 170,947 |
| (174,908 | ) | 375,369 |
| Gain on sale of operating assets (a) | (768 | ) | — |
| — |
| — |
| — |
| 1 |
| 767 |
| — |
| Depreciation, depletion and amortization | 52,475 |
| 24,307 |
| 4,199 |
| 18,670 |
| 35,690 |
| 11,205 |
| (10,955 | ) | 135,591 |
| Operating income (loss) | 109,457 |
| 76,336 |
| 10,935 |
| (8,395 | ) | 2,738 |
| 10,000 |
| (14,832 | ) | 186,239 |
| | | | | | | | | | Interest expense | (53,770 | ) | (31,621 | ) | (8,903 | ) | (9 | ) | (5,896 | ) | (93,314 | ) | 102,130 |
| (91,383 | ) | Unrealized gain (loss) on interest rate swaps, net | — |
| — |
| — |
| — |
| — |
| (42,010 | ) | — |
| (42,010 | ) | Interest income | 14,794 |
| 5,645 |
| 1,529 |
| 3,897 |
| 2 |
| 64,299 |
| (88,149 | ) | 2,017 |
| Other income (expense), net | 481 |
| 217 |
| 1,094 |
| 2,192 |
| (216 | ) | 46,510 |
| (46,552 | ) | 3,726 |
| Income tax benefit (expense) | (23,271 | ) | (16,408 | ) | (1,644 | ) | 1,891 |
| 1,651 |
| 19,289 |
| 268 |
| (18,224 | ) | Income (loss) from continuing operations | $ | 47,691 |
| $ | 34,169 |
| $ | 3,011 |
| $ | (424 | ) | $ | (1,721 | ) | $ | 4,774 |
| $ | (47,135 | ) | $ | 40,365 |
|
_________________ | | (a) | Electric Utilities includes gain on sale of assets to a related party which was eliminated in consolidation. |
|