NORTHWESTERN ENERGY PUBLIC SERVICE CORPORATION
(A direct, wholly-owned subsidiary of NorthWestern Energy Group, Inc.) Financial Statements For the Period Ending June 30, 2026Table of Contents
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Condensed Statements of Income for the Six Months Ended June 30, 2026 and 2025 3
Condensed Statements of Comprehensive Income for the Six Months Ended June 30, 2026 and 2025 4
Condensed Balance Sheets as of June 30, 2026 and December 31, 2025 5
Condensed Statements of Cash Flows for the Six Months Ended June 30, 2026 and 2025 6
Condensed Statements of Common Shareholders' Equity for the Six Months Ended June 30, 2026 and 2025 7
Notes to Condensed Financial Statements 8
NORTHWESTERN ENERGY PUBLIC SERVICE CORPORATION CONDENSED STATEMENTS OF INCOME
(in thousands)Six Months Ended June 30,
2026 | 2025 | |
Revenues | ||
Electric | $ 104,104 | $ 96,300 |
Gas | 64,792 | 61,378 |
Total Revenues | 168,896 | 157,678 |
Operating Expenses | ||
Fuel, purchased supply and direct transmission expense (exclusive of depreciation shown separately below) | 71,494 | 66,130 |
Operating, administrative and general | 36,970 | 34,154 |
Property and other taxes | 3,671 | 3,898 |
Depreciation | 26,355 | 25,435 |
Total Operating Expenses | 138,490 | 129,617 |
Operating income | 30,406 | 28,061 |
Interest expense, net | (13,994) | (12,641) |
Other income, net | 1,277 | 959 |
Income before income taxes | 17,689 | 16,379 |
Income tax (expense) benefit | (4,040) | (2,212) |
Net Income | $ 13,649 | $ 14,167 |
See Notes to Condensed Financial Statements
NORTHWESTERN ENERGY PUBLIC SERVICE CORPORATION CONDENSED STATEMENTS OF COMPREHENSIVE INCOME
(in thousands)Net Income $ 13,649 $ 14,167
Six Months Ended June 30, 2026 2025
Comprehensive Income $ 13,649 $ 14,167
Other comprehensive income, net of tax: - -
See Notes to Condensed Financial Statements
NORTHWESTERN ENERGY PUBLIC SERVICE CORPORATION CONDENSED BALANCE SHEETS
(in thousands)As of June 30,
As of December 31,
2026 | 2025 | |
ASSETS | ||
Current Assets: | ||
Cash and cash equivalents | $ 1,138 | $ 2,521 |
Restricted cash | 9,780 | 9,570 |
Accounts receivable, net | 29,025 | 41,834 |
Accounts receivable from related parties | 1,579 | 699 |
Inventories | 37,343 | 33,931 |
Regulatory assets | 7,824 | 9,165 |
Prepaid expenses and other | 15,524 | 10,577 |
Total current assets | 102,213 | 108,297 |
Property, plant, and equipment, net | 1,168,561 | 1,147,596 |
Goodwill | 93,779 | 93,779 |
Regulatory assets | 95,994 | 97,475 |
Other noncurrent assets | 56,585 | 11,378 |
Total Assets | $ 1,517,132 | $ 1,458,525 |
LIABILITIES AND SHAREHOLDERS' EQUITY | ||
Current Liabilities: | ||
Current portion of long-term debt | $ 44,996 | $ 104,967 |
Accounts payable | 20,429 | 33,300 |
Accounts payable to related parties | 155 | - |
Accrued expenses | 33,324 | 33,829 |
Regulatory liabilities | 11,514 | 17,464 |
Total current liabilities | 110,418 | 189,560 |
Long-term debt | 626,607 | 490,031 |
Deferred income taxes | 47,842 | 44,781 |
Noncurrent regulatory liabilities | 117,888 | 115,900 |
Other noncurrent liabilities | 32,261 | 33,433 |
Total Liabilities | 935,016 | 873,705 |
Commitments and Contingencies (Note 4) | ||
Shareholders' Equity: | ||
Common stock, par value $0.01 | 0 | 0 |
Paid-in capital | 582,751 | 582,104 |
Retained earnings | (1,637) | 1,714 |
Accumulated other comprehensive income | 1,002 | 1,002 |
Total Shareholders' Equity | 582,116 | 584,820 |
Total Liabilities and Shareholders' Equity | $ 1,517,132 | $ 1,458,525 |
See Notes to Condensed Financial Statements