Slide 1: Supplemental Slides Second Quarter 2019 Earnings
Supplemental Slides Second Quarter 2019 Earnings July 31, 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 – Second Quarter 2019
Key Takeaways – Second Quarter 2019 • Results in line with guidance range ▪ Net operating earnings per share (NOEPS*) of $0.05 versus $0.07 in 2Q2018 ▪ 2019 capital investments reaffirmed at $1.6 to $1.7 billion ▪ 2019 NOEPS guidance range of $1.27 to $1.33 reaffirmed ▪ NOEPS, dividend expected to g
Slide 4: Second Quarter 2019 Financial Highlights
Second Quarter 2019 Financial Highlights Non-GAAP* 2019 2018 Change Net Operating Earnings Available to Common $19.1 $26.4 ($7.3) Shareholders ($M) Net Operating Earnings Per Share $0.05 $0.07 ($0.02) GAAP 2019 2018 Change Net Income Available to Common Shareholders ($M) $283.1 $23.2 $259.9 Earnings
Slide 5: NiSource Debt and Credit Profile
NiSource Debt and Credit Profile • Current debt level: ~$9.2B as of June 30, 2019 ▪ ~$6.9B 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 June 30, 2019* ▪ ~$2.2B of committed facili
Slide 6: Financing Plan Update
Financing Plan Update NiSource Current Financing Plan 2018 2019/2020* ($ 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 ~$500 Incremental Long-Term Debt ($410)
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 • Hearing underway in base rate case; Wind project PPAs approved by IURC Key Milestones: Highlight Key Components Status • 20-year PPAs approved to purchase 100% of the output from the Jordan Creek (
Slide 9: Safety Management System (SMS)
Safety Management System (SMS) What is a Safety Management System (SMS)? • An advanced, comprehensive approach to managing safety that enhances operational risk management • Aligned with a framework developed for pipeline operators by the American Petroleum Institute • Focused on proactive risk iden
Slide 10: Greater Lawrence Event Costs and Insurance Update - June 30, 2019
Greater Lawrence Event Costs and Insurance Update - June 30, 2019 Event Related Costs and Expenses • Pipeline Replacement and Restoration (Total Current Estimate = $250M - $260M) – replacement of the gas distribution system with modern state-of-the-art plastic mains and service lines, and modern saf
Slide 11: Appendix: Second Quarter 2019 Earnings
Appendix: Second 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 - $2.0B Recovery Period Annually Within 0-3 Months 15% 18% 19% (Growth) Within 0-12 Months 54% (Tracker) 58% 57% Periodic Rate Cases (Maintenance/Other) 31% 24% 24% 20
Slide 13: Liquidity and Debt Detail as of Second Quarter 2019 ($M)
Liquidity and Debt Detail as of Second Quarter 2019 ($M) Actual Current Liquidity Maturity 6/30/2019 Revolving Credit Facility $1,850 Feb. 20, 2024 Accounts Receivable Programs* 320 Less: Drawn on Credit Facility — Commercial Paper 911 Accounts Receivable Programs Utilized 320 L/C's Outstanding Unde
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 Filed: 5/22/2019 Columbia Gas of Maryland - Base Rate Case Requested Increase: $2.5M, net of trackers Order Expected: 4Q2019 BTA for Rosewater JV between NIPSCO and Filed: 2/1/2019 NIPSCO E
Slide 17: Infrastructure Investment and Tracker Filing Details
Infrastructure Investment and Tracker Filing Details Incremental Investments Recovery Recovery Company Filing Mechanism Investment Investment Effective Date Period Amount ($M) Date FY 2017 $207.3 Feb 2018 May 2018 Columbia Gas of Infrastructure Replacement Ohio Program (IRP) FY 2018 $199.6 Feb 2019