Investor Presentaiton
L
(dollars in millions)
Electric
Natural Gas
Total Gross Margin (1)
Appendix 41
Gross Margin (Fourth Quarter)
Three Months Ended December 31,
2020
2019
Variance(1)
$ 170.8
$ 186.1
$ (15.3)
(8.2)%
56.8
59.7
(2.9)
(4.8)%
$ 227.6
$ 245.8
$ (18.2)
(7.4)%
(1)
Decrease in gross margin due to the following factors:
$ (9.4) Disallowance of prior period supply costs
(4.5) Electric retail volumes and demand
(2.3) Natural gas retail volumes
(0.9) Electric transmission
(0.4) Montana natural gas production rates
0.5
(4.0)
$ (21.0)
$ 2.8
1.1
(1.0)
(0.1)
$ 2.8
$ (18.2)
Montana electric supply cost recovery
Other
Change in Gross Margin Impacting Net Income
Gross Margin, defined as
revenues less cost of
sales, is a non-GAAP
Measure See appendix
for additional disclosure.
Property taxes recovered in revenue, offset in property tax expense
Operating expenses recovered in trackers, offset in operating expense
Production tax credits reducing revenue, offset in income tax expense
Gas production taxes recovered in revenue, offset in property & other taxes
Change in Gross Margin Offset Within Net Income
Decrease in Gross Margin
NorthWestern
Energy
Delivering a Bright Future
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