Analysts Call to Review Fiscal 2014 Third Quarter Financial Results August 7, 2014 10:00 a.m. Eastern
Consolidated Financial Results Fiscal 2014 Q3 Q3 Fiscal 2014 Net Income versus Q3 Fiscal 2013 Net Income Natural Regulated Average Earnings Q3 Fiscal 2014 Net Income Gas Transmission Non Diluted Per (millions, except EPS) Distribution…
Consolidated Financial Results Fiscal YTD YTD Fiscal 2014 Net Income versus YTD Fiscal 2013 Net Income Natural Regulated Average Earnings Fiscal YTD 2014 Net Income Gas Transmission Non Diluted Per (millions, except EPS) Distribution &…
Segment Financial Results Fiscal 2014 Natural Gas Distribution Key Drivers Quarter Ended 6/30 QTD 18.2M gross profit increase: ( millions) 2014 2013 Change 9.2M net increase in rate adjustments Gross Profit 257.7 239.5 18.2 6.7M…
Key Regulatory Developments - Fiscal 2014 YTD Implemented Annual Increases in Operating Income from Rate Activity 128 Million Key Rates Implemented 130.0 120.0 Fiscal 2014 YTD 110.0 APT - 2013 GRIP - 45.6M 100.0 Mid-Tex 2012 RRM…
Key Regulatory Developments - Fiscal 2014 YTD Mid-Tex Cities: Settled Rate Review Mechanism on November 1, 2013, authorizing a net annual operating income increase of 12.5 million. Authorized ROE of 10.5 percent Black box settlement:…
Key Regulatory Developments - Fiscal 2014 YTD Kentucky Rate Filing: April 22, 2014, final order issued authorizing an increase in annual operating income of 8.3 million, including 2.5 million of PRP. Authorized ROE of 9.8 percent…
Key Regulatory Developments - Fiscal 2014 YTD Mid-Tex Environs GRIP Filing: May 22, 2014, GRIP approved providing an annual operating income increase of 0.9 million. Authorized ROE: 10.50 percent Authorized capital structure: 48…
Key Regulatory Developments - Fiscal 2014 YTD Mid-Tex City of Dallas: Settled Dallas Rate Review mechanism (DARR) on June 1, 2014, authorizing a net increase in annual operating income of 5.6 million. Authorized ROE of 10.10 percent…
Key Regulatory Developments - Fiscal 2014 YTD Louisiana Gas Service: Settled Rate Stabilization Clause (RSC) on July 1, 2014, authorizing a net annual increase in operating income of 1.4 million. Authorized ROE of 9.80 percent…
Key Regulatory Developments - Fiscal 2014 YTD Rate Filing Outlook Fiscal 2014E Q1 Q2 Q3 Q4 October December January March April June July September West Texas Settled system-wide Kansas Filed rate case in Louisiana LGS annual Rate…
Pending Regulatory Filings - Fiscal 2014 YTD Kansas Rate Filing: Filed rate case on January 9, 2014, requesting a net increase in annual operating income of 7.0 million. Requested ROE of 10.53 percent Requested capital structure: 49…
Pending Regulatory Filings - Fiscal 2014 YTD Kentucky PRP Rate Filing: Filed annual Pipe Replacement Program (PRP) rate filing on July 31, 2014, requesting an increase in annual operating income of 4.3 million. Authorized ROE of 9.80…
Segment Financial Results Fiscal 2014 Q3 Nonregulated Operations Quarter Ended 6/30 Key Drivers ( millions) 2014 2013 Change Gas Delivery & Related Services 7.9 5.9 2.0 2.0M increase in gas delivery and related…
Consolidated Financial Results Fiscal 2014 Long-Term Debt Maturity and Liquidity Profile Debt Maturity as of Liquidity Profile as of June 30, 2014 June 30, 2014 millions millions 1,500 1,500 1,260 1,200 1,200 5 issues,…
Fiscal 2014E Guidance Net Income (excluding Mark-to-Market) and Select Expenses ( millions, except EPS) 2013 2014E* Regulated Operations 227 256 267 Nonregulated Operations 6 17 19 Total Net Income 233 273 286 Avg. Diluted Shares…
Capital Expenditures Drive Rate Base Growth Consolidated 2014E Capital Expenditures of 830-850 million 70% Fiscal 2014E CAPEX deployed in Texas ( millions) Safety & Reliability 600 - 650 1,000 850-950 million 900 845.0 830-850…
Consolidated Financial Results Fiscal 2014E Annual Dividend Growth Quarterly Dividend 1.60 1.48 On August 5, 2014, the 1.40 Board of Directors declared a quarterly 1.20 dividend of 0.37 per share 1.00 123rd consecutive…
Appendix 23
Attractive, Pure-Play Return Constructive Regulatory Mechanisms Support Efficient Conversion of Rate Base Growth Opportunities into Financial Results 850 - 950mm in annual capital Constructive rate mechanisms 6% - 8% Consolidated…
Strong Earnings Growth Driven By Rate Base Investments Earnings Per Share Expected to Grow 6% 8% Annually 3.45 - 3.65 Capital expenditures of 4.00 850 - 950 million 3.50 annually 3.00 2.53 * Incremental financing through fiscal…
Capital Spending Drives Rate Base Growth Strong Regulated Rate Base Growth Focused on enhancing system safety and reliability 8,000 6.9 - 7.1 Billion 7,000 6,000 ( billions) 5,000 4.1 Billion 4,000 3,000 2,000…
Growth Fueled by Increased Capital Spend Financed with a Blend of Cash Flows and Debt Securities Average of 850-950 million annually 1,000 845 830-850 800 733 Capex Spending ( millions) 600 400 200 0 2012 2013…
Constructive Rate Mechanisms Accelerate Recovery of Capital Spending Reducing Regulatory Lag Accelerates Recovery of Investments Annual Rate Base Authorized Return on State Infrastructure mechanisms (000s) 1 Equity 1 Texas LDC 2,140…
Regulatory Lag and Risk of Recovery Minimized with Constructive Rate Mechanisms Regulated Capex Spend and Timely Recovery Texas Rule 8.209 Capital Regulatory lag & Investment Estimates risk of recovery reduced Fiscal year millions…
Constructive Rate Outcomes Drive Operating Income Growth Implemented Annual Increases to Operating Income 1 Distribution and Pipeline Operations 150.0 Customers and investors 110 - 130 benefit from fair and 122.3 reasonable…
Regulated Operations Date of Authorized Requested Effective Last Rate Operating Operating Rate Base Requested Authorized Requested Authorized Requested Authorized Requested Date of Last Filing Income Income thousands Rate Base Rate of…
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