Slide 1: Supplemental Slides First Quarter 2019 Earnings
Supplemental Slides First Quarter 2019 Earnings May 1, 2019
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains forward-looking statements within the meaning of federal securities laws. Investors and prospective investors should understand that many factors govern whether any forward-looking statement contained herein will be or can be realized. Any one of
Slide 3: Key Takeaways – First Quarter 2019
Key Takeaways – First Quarter 2019 • Results in line with guidance range ▪ Net operating earnings per share (NOEPS*) of $0.82 versus $0.77 in 2018 ▪ NOEPS, dividend expected to grow 5 to 7 percent annually from 2019 through 2022 • Gas system safety enhancements advance; continued execution on regula
Slide 4: First Quarter 2019 Financial Highlights
First Quarter 2019 Financial Highlights Non-GAAP* 2019 2018 Change Net Operating Earnings Available to Common $307.7 $259.7 $48.0 Shareholders ($M) Net Operating Earnings Per Share $0.82 $0.77 $0.05 GAAP 2019 2018 Change Net Income Available to Common Shareholders ($M) $205.1 $276.1 ($71.0) Earnings
Slide 5: NiSource Debt and Credit Profile
NiSource Debt and Credit Profile • Current debt level: ~$9.2B as of March 31, 2019 ▪ ~$7.0B of long-term debt ◦ Weighted average maturity ~18 years ◦ Weighted average interest rate of 4.6% • Solid liquidity position ▪ ~$1.0B in net available liquidity as of March 31, 2019* ▪ ~$2.4B of committed faci
Slide 6: Financing Plan Update
Financing Plan Update NiSource Current Financing Plan 2018 2019/2020* ($ in Millions) Actual Estimated Equity Common Equity Block $606 None Planned Issuance $200 - $300 ATM (At-The-Market) $239 (Annually) $35 - $60 ESPP/401K/Other $41 (Annually) Long-Term Debt $0 - $500 Incremental Long-Term Debt ($
Slide 7: Gas Distribution Operations
Gas Distribution Operations • Regulatory initiatives advancing in several states • Continuing to execute infrastructure modernization that enhances system safety, reliability and environmental performance Key Milestones: Highlight Key Components Status Columbia Gas of Ohio IRP Annual • Supports cont
Slide 8: Electric Operations
Electric Operations • Continued execution of seven-year ~$1.2B electric system modernization program • Partial settlement filed in base rate case; Wind project applications pending before IURC Key Milestones: Highlight Key Components Status • Seeks approval for 20-year PPAs to purchase 100% of the o
Slide 9: Safety Management System (SMS)
Safety Management System (SMS) What is a Safety Management System (SMS)? • An advanced, comprehensive approach to safety that enhances operational risk management • Aligned with a framework developed for pipeline operators by the American Petroleum Institute • Focused on proactive (vs. reactive) ris
Slide 10: Greater Lawrence Event - March 31, 2019 Update
Greater Lawrence Event - March 31, 2019 Update Event Related Costs and Expenses • Pipeline Replacement and Restoration (Total Current Estimate = $240M - $250M) – replacement of the gas distribution system with modern state-of-the-art plastic mains and service lines, and modern safety features such a
Slide 11: Appendix: First Quarter 2019 Earnings
Appendix: First Quarter 2019 Earnings
Slide 12: Capital Expenditures
Capital Expenditures Investments Deliver Customer Value, Enhance System Safety and Reliability Estimated ~ $1.8B $1.6B - $1.7B $1.6B - $2.0B Recovery Period Annually Within 0-3 Months 15% 18% 19% (Growth) Within 0-12 Months 54% (Tracker) 58% 57% Periodic Rate Cases (Maintenance/Other) 31% 24% 24% 20
Slide 13: Liquidity and Debt Detail as of First Quarter 2019 ($M)
Liquidity and Debt Detail as of First Quarter 2019 ($M) Actual Current Liquidity Maturity 3/31/2019 Revolving Credit Facility $1,850 Nov. 28, 2021 Accounts Receivable Programs* 500 Less: Drawn on Credit Facility — Commercial Paper 980 Accounts Receivable Programs Utilized 500 L/C's Outstanding Under
Slide 14: Gas Distribution Operations Infrastructure Programs
Gas Distribution Operations Infrastructure Programs Estimated Base Case Year-End Total Modernization Recovery Annual Company Authorized 2018 Rate Identified Program Mechanism ROE Base Investments Modernization Investments Program Columbia Not Specified $2.8B ~$5.6B ~$3.0B $230M - $270M Tracked Gas o
Slide 15: Electric Operations Investment Programs
Electric Operations Investment Programs Infrastructure Investment Programs/Projects Estimated Identified Recovery Program/Project Program/Project Annual Investments Mechanism Length Investment Infrastructure ~$4.9B ~$185M - $215M Tracked 20+ Years Modernization High-Value Investments with $4.4B Rate
Slide 16: Regulatory Update
Regulatory Update 2019 Rate Case and Program/Project Activity Company/Filing Summary Timeline Pending Approval 20-year PPAs for Jordan Creek and Roaming Bison wind projects Filed: 2/1/2019 NIPSCO Electric - Wind Filings BTA for Rosewater JV between NIPSCO and Order Expected: 3Q2019 EDP Renewables Re
Slide 17: Infrastructure Investment and Tracker Filing Details
Infrastructure Investment and Tracker Filing Details Incremental Investments Recovery Recovery Company Filing Mechanism Investment Investment Effective Date Period Amount ($M) Date FY 2017 $207.3 Feb 2018 May 2018 Columbia Gas of Infrastructure Replacement Ohio Program (IRP) FY 2018 $199.6 Feb 2019