Investor Presentaiton
L
Appendix 40
Summary Financial Results (Fourth Quarter)
Three Months Ended December 31,
(in millions except per share amounts)
2020
2019
Variance
% Variance
Operating Revenues
313.6 $
328.1 $
(14.5)
(4.4%)
Cost of Sales
86.0
82.3
3.7
4.5%
Gross Margin (1)
227.6
245.8
(18.2)
(7.4%)
Operating Expenses
Operating, general & administrative
73.1
79.3
(6.2)
(7.8%)
Property and other taxes
42.7
38.7
4.0
10.3%
Depreciation and depletion
45.3
43.1
2.2
5.1%
Total Operating Expenses
161.1
161.1
(0.0)
(0.0%)
Operating Income
Interest Expense
66.5
84.7
(18.3)
(21.5%)
(24.5)
(24.1)
(0.4)
(1.7%)
Other Income (Expense)
5.8
(0.5)
6.3
(1386.0%)
Income Before Taxes
47.8
60.1
(12.3)
(20.5%)
Income Tax Benefit (Expense)
5.8
(0.1)
5.9
5900.0%
Net Income
53.6
60.0
(6.4)
(10.7%)
Effective Tax Rate
(12.1%)
0.2%
-12.3%
Diluted Shares Outstanding
50.7
50.8
(0.1)
(0.1%)
Diluted Earnings Per Share
$1.06
1.18
$
(0.12)
(10.2%)
Dividends Paid per Common Share
0.60
0.575
0.025
4.3%
NorthWestern
Energy
(1) Gross Margin, defined as revenues less cost of sales, is a non-GAAP Measure See appendix for additional disclosure.
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