Slide 1: Supplemental Slides Third Quarter 2019 Earnings
Supplemental Slides Third Quarter 2019 Earnings October 30, 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
Slide 3: Key Takeaways – Third Quarter 2019
Key Takeaways – Third Quarter 2019 • Initiating 2020 guidance; 2019 guidance range reaffirmed ▪ Net operating earnings per share (NOEPS*) of $0.00 versus $0.10 in 3Q2018 ▪ Continue to expect NOEPS* and dividend to grow 5 to 7 percent annually through 2022 ▪ 2019 NOEPS* guidance of $1.27 to $1.33 rea
Slide 4: Third Quarter 2019 Financial Highlights
Third Quarter 2019 Financial Highlights Non-GAAP* 2019 2018 Change Net Operating Earnings (Loss) Available to Common ($1.7) $35.3 ($37.0) Shareholders ($M) Net Operating Earnings (Loss) Per Share $0.00 $0.10 ($0.10) GAAP 2019 2018 Change Net Loss Available to Common Shareholders ($M) ($7.2) ($345.1)
Slide 5: NiSource Debt and Credit Profile
NiSource Debt and Credit Profile • Current debt level: ~$9.5B as of September 30, 2019 ▪ ~$7.7B of long-term debt ◦ Weighted average maturity ~17 years ◦ Weighted average interest rate of 4.4% • Solid liquidity position ▪ ~$1.4B in net available liquidity as of September 30, 2019* ▪ ~$2.2B of commit
Slide 6: Financing Plan Update
Financing Plan Update NiSource Current Financing Plan* 2018 2019 2020 ($ in Millions) Actual Estimated Estimated Equity Common Equity Block $606 None Planned $500 - $700 Issuance $200 - $300 ATM (At-The-Market) $239 (Annually) $35 - $60 ESPP/401K/Other $41 (Annually) Long-Term Debt Incremental Long-
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 • Supports continued replacement of aging pipel
Slide 8: Electric Operations
Electric Operations • Continued execution of seven-year ~$1.2B electric system modernization program • Second RFP for replacement capacity issued • Rosewater BTA approved by IURC; Indiana Crossroads BTA certificate request filed with IURC Key Milestones: Highlight Key Components Status • BTA (Build-
Slide 9: Greater Lawrence Event Costs and Insurance Update
Greater Lawrence Event Costs and Insurance Update - September 30, 2019 Event Related Costs and Expenses • Pipeline Replacement and Restoration (Total Current Estimate = $255M - $260M) – replacement of the gas distribution system with modern state-of-the-art plastic mains and service lines, and moder
Slide 10: Appendix: Third Quarter 2019 Earnings
Appendix: Third Quarter 2019 Earnings
Slide 11: Capital Expenditures
Capital Expenditures Investments Deliver Customer Value, Enhance System Safety and Reliability Estimated $1.7B - $2.0B ~ $1.8B $1.7B - $1.8B $1.7B - $1.8B Recovery Period Annually 15% 11% 11% Within ~0-3 Months 17% (Growth) Within ~0-12 Months 54% (Tracker) 52% 67% 67% Periodic Rate Cases (Maintenan
Slide 12: Liquidity and Debt Detail as of Third Quarter 2019
Liquidity and Debt Detail as of Third Quarter 2019 ($M) Actual Current Liquidity Maturity 9/30/2019 Revolving Credit Facility $1,850 Feb. 20, 2024 Accounts Receivable Programs* 260 Less: Drawn on Credit Facility — Commercial Paper 505 Accounts Receivable Programs Utilized 260 L/C's Outstanding Under
Slide 13: 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 14: 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 $4.4B Rate
Slide 15: Regulatory Update
Regulatory Update 2019 Rate Case and Program/Project Activity Company/Filing Summary Timeline Pending Approval BTA for Indiana Crossroads JV between Filed: 10/22/2019 NIPSCO Electric - Wind Project Filing NIPSCO and EDP Renewables (302 MW) Order Requested: Feb. 2020 Filed: 5/22/2019 Columbia Gas of
Slide 16: Infrastructure Investment and Tracker Filing Details
Infrastructure Investment and Tracker Filing Details Incremental Investments Recovery Recovery Company Filing Mechanism Investment Investment Effective Date Period Amount ($M) Date FY 2017 $207.3 Feb 2018 May 2018 Columbia Gas of Infrastructure Replacement Ohio Program (IRP) FY 2018 $199.6 Feb 2019