Investor Presentaiton
L
(dollars in millions)
Appendix 44
Operating to Net Income (Fourth Quarter)
Three Months Ended December 31,
2020
2019
Variance
Operating Income
$ 66.5
$ 84.7
$ (18.2)
(21.5)%
Interest Expense
(24.5)
(24.1)
(0.4)
(1.7)%
Other Income / (Expense)
5.8
(0.5)
6.3
1,386.0%
Income Before Taxes
47.8
60.1
(12.3)
(20.5)%
Income Tax Benefit / (Expense)
Net Income
5.8
(0.1)
5.9
5,900.0%
$ 53.6
$ 60.0
$ (6.4)
(10.7)%
$0.4 million increase in interest expenses was primarily due to higher borrowings.
$6.3 million increase in other expense was due to a $2.9 million decrease in other
pension expense, a $1.4 million increase in the value of deferred shares held in a trust
for non-employee directors deferred compensation and higher AFUDC. These changes
to both pension and value of deferred shares are offset in operating expense with no
impact to net income.
$5.9 million increase in income tax benefits was primarily due to lower pre-tax
income in 2020 as well as higher flow-through repairs deductions and higher production
tax credits.
NorthWestern
Energy
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