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CONSOLIDATED STATEMENTS OF EQUITY AND REDEEMABLE NONCONTROLLING INTEREST - USD ($)
$ in Thousands
Total
Southwest Gas Corporation
Common Stock
Common Stock
Southwest Gas Corporation
Additional Paid-in Capital
Additional Paid-in Capital
Southwest Gas Corporation
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss)
Southwest Gas Corporation
Retained Earnings
Retained Earnings
Southwest Gas Corporation
Non- controlling Interest
Beginning balance (in shares) at Dec. 31, 2015     47,377,000 47,377,000              
Beginning balance at Dec. 31, 2015 $ 1,592,325 $ 1,593,186 $ 49,007 $ 49,007 $ 896,448 $ 890,671 $ (50,268) $ (47,743) $ 699,221 $ 701,251 $ (2,083)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                      
Common stock issuances (in shares)     105,000 105,000              
Common stock issuances 6,780 6,780 $ 105 $ 105 6,675 6,675          
Net income (loss) 151,907 152,041             152,041 152,041 (134)
Redemption value adjustments (5,768)             (5,768)    
Foreign currency exchange translation adjustment 156           156        
Net actuarial gain (loss) arising during the period, less amortization of unamortized benefit plan cost, net of tax 29 29         29 29      
FSIRS amounts reclassified to net income, net of tax 2,075 2,075         2,075 2,075      
Dividends declared (86,231) (86,231)             (86,231) (86,231)  
Ending balance (in shares) at Dec. 31, 2016     47,482,000 47,482,000              
Ending balance at Dec. 31, 2016 1,661,273 1,667,880 $ 49,112 $ 49,112 903,123 897,346 (48,008) (45,639) 759,263 767,061 (2,217)
Beginning balance at Dec. 31, 2015 16,108                    
Increase (Decrease) in Temporary Equity [Roll Forward]                      
Net income (loss) 1,148                    
Redemption value adjustments 5,768                    
Foreign currency exchange translation adjustment 5                    
Centuri distribution to redeemable noncontrolling interest (439)                    
Ending balance at Dec. 31, 2016 22,590                    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                      
Common stock issuances (in shares)     608,000                
Common stock issuances 52,817   $ 608   52,209            
Net income (loss) 193,693 156,818             193,841 156,818 (148)
Redemption value adjustments (355)               (355)    
Foreign currency exchange translation adjustment 1,760           1,760        
Net actuarial gain (loss) arising during the period, less amortization of unamortized benefit plan cost, net of tax (3,507) (3,507)         (3,507) (3,507)      
FSIRS amounts reclassified to net income, net of tax 2,073 2,073           2,073      
Stock-based compensation [1]   9,278       10,062       (784)  
Dividends declared $ (95,351) (81,129)             (95,351) (81,129)  
Contributions from Southwest Gas Holdings, Inc.   41,359       41,359          
Ending balance (in shares) at Dec. 31, 2017 48,090,470   48,090,000 47,482,000              
Ending balance at Dec. 31, 2017 $ 1,812,403 1,609,999 $ 49,720 $ 49,112 955,332 948,767 (47,682) (47,073) 857,398 659,193 (2,365)
Increase (Decrease) in Temporary Equity [Roll Forward]                      
Net income (loss) 248                    
Redemption value adjustments 355                    
Foreign currency exchange translation adjustment 11                    
Redemption of Centuri shares from noncontrolling parties (23,000)                    
Centuri distribution to redeemable noncontrolling interest (204)                 2,073  
Ending balance at Dec. 31, 2017 0                    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                      
Common stock issuances (in shares)     4,936,000                
Common stock issuances 358,083   $ 4,936   353,147            
Net income (loss) 181,480 138,842             182,277 138,842 (797)
Foreign currency exchange translation adjustment (3,010)           (3,010)        
Net actuarial gain (loss) arising during the period, less amortization of unamortized benefit plan cost, net of tax 4,783 4,783         4,783 4,783      
FSIRS amounts reclassified to net income, net of tax 2,541 2,541         2,541 2,541      
Reclassification of excess deferred taxes             (9,300) [2] (9,300) [3] 9,300 [2] 9,300 [3]  
Change in ownership of noncontrolling interest [4]         (2,710)           2,710
Stock-based compensation [1]   2,246       2,926       (680)  
Dividends declared $ (104,690) (89,500)             (104,690) (89,500)  
Contributions from Southwest Gas Holdings, Inc.   113,549       113,549          
Ending balance (in shares) at Dec. 31, 2018 53,026,848   53,026,000 47,482,000              
Ending balance at Dec. 31, 2018 $ 2,251,590 1,782,460 $ 54,656 $ 49,112 $ 1,305,769 $ 1,065,242 $ (52,668) $ (49,049) $ 944,285 717,155 $ (452)
Increase (Decrease) in Temporary Equity [Roll Forward]                      
Redeemable noncontrolling interest acquired [5] 81,659                    
Net income (loss) 172                    
Centuri distribution to redeemable noncontrolling interest   $ (182,773)               $ (182,773)  
Ending balance at Dec. 31, 2018 $ 81,831                    
[1] Stock-based compensation is based on stock awards of Southwest Gas Corporation to be issued in shares of Southwest Gas Holdings, Inc.
[2] Release of excess deferred taxes accumulated prior to December 22, 2017 (date of enactment of the TCJA), as a result of the adoption of ASU 2018-02, which permitted such release. See Note 1 - Background, Organization, and Summary of Significant Accounting Policies.
[3] Release of excess deferred taxes accumulated prior to December 22, 2017 (date of enactment of the TCJA), as a result of the adoption of ASU 2018-02, which permitted such release.
[4] Centuri, through its subsidiary, NPL, had historically held a 65% ownership interest in Intellichoice Energy, LLC (“ICE”). A residual interest of 35% has been held by a third party. During the second quarter of 2018, an additional $1 million of capital was contributed by NPL, thereby increasing NPL’s ownership interest to 95%. The carrying amount of the noncontrolling interest has been adjusted with a corresponding charge to Additional paid-in capital on the Company’s Consolidated Balance Sheet.
[5] The Company, through its subsidiary, Centuri, completed the acquisition of a privately held utility infrastructure services business. Refer to Note 19 - Business Acquisitions.