NiSource Inc. is a regulated natural gas and electric utility company operating in the United States through its Gas Distribution Operations and Electric Operations segments. The company serves approximately 859,000 natural gas customers in northern Indiana and around 2.4 million residential, commercial, and industrial customers in several other states. NiSource also generates, transmits, and distributes electricity to approximately 486,000 customers in northern Indiana. The company owns and operates various electric generating stations, including coal-fired, combined cycle gas turbine, natural gas, hydro, and wind generating units.
In its 10-K report, NiSource Inc. highlights significant judgments and estimates related to unbilled revenue recognition and income taxes. The company notes that fluctuations in energy demand and changes in customer classes could impact the accuracy of unbilled revenue estimates. Additionally, NiSource emphasizes the use of significant management judgment in estimating consolidated income tax provision, deferred income tax assets and liabilities, unrecognized tax benefits, and valuation allowances. As of December 31, 2023, the company had $21.7 million of unrecognized tax benefits and established $6.4 million of valuation allowances related to certain state net operating loss carryforwards.
Overall, NiSource Inc. continues to focus on providing natural gas and electricity to its customers while navigating the complexities of estimating revenue and managing income taxes, as outlined in its 10-K report. As a result of these announcements, the company's shares have moved 0.3% on the market, and are now trading at a price of $26.11. For more information, read the company's full 10-K submission here.
