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NiSource Inc (NI+0.34%). has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing details NiSource's financial performance, including operating revenues of $5.455 billion, a slight decrease from $5.505 billion in 2023. The company reported net income of $844.7 million, an increase from $674.4 million the previous year.
NiSource's operating expenses totaled $3.999 billion, down from $4.209 billion in 2023. This decrease was primarily due to lower cost of energy expenses, which fell to $1.132 billion from $1.533 billion.
The company continues to focus on infrastructure modernization, with capital investments totaling approximately $3.3 billion in 2024. This includes investments in system growth, maintenance, and generation transition.
NiSource's regulatory capital programs include various initiatives to recover infrastructure replacement and compliance investments, with significant investments in Columbia of Ohio's infrastructure replacement program and NIPSCO's electric and gas transmission and distribution system improvement charges.
The filing also outlines NiSource's ongoing energy transition strategy, which involves retiring coal-fired generation and investing in renewable energy sources. NIPSCO's 2024 Integrated Resource Plan was submitted to the Indiana Utility Regulatory Commission, detailing future generation investments required to ensure reliability.
NiSource's liquidity position remains strong, with a revolving credit facility of $1.85 billion and available liquidity of $1.568 billion as of December 31, 2024.
The company continues to face risks related to regulatory changes, commodity price fluctuations, and cybersecurity threats, which are managed through various risk management strategies.
NiSource's human capital management focuses on talent attraction and retention, with initiatives to enhance employee experience and diversity. The company reported a workforce of 7,687 full-time and 59 part-time employees as of December 31, 2024.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the NiSource Inc annual 10-K report dated February 12, 2025. To report an error, please email earnings@qz.com.