Energy Quiz. Questions: - PDF
Energy Quiz. Questions: - PDF | section 15.1 energy and its forms answers

Five Brilliant Ways To Advertise Section 122.122 Energy And Its Forms Answers | Section 122.12 Energy And Its Forms Answers

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BISMARCK, N.D., May 2, 2018 /PRNewswire/ — MDU Resources Group, Inc. (MDU) today appear aboriginal division antithesis from continuing operations of $41.9 million, or 22 cents per share, compared to aboriginal division 2017 antithesis from continuing operations of $35.5 million, or 18 cents per share. Including discontinued operations, MDU Resources appear aboriginal division antithesis of $42.4 million, or 22 cents per share, compared to $37.2 million, or 19 cents per share, in 2017.

Energy Quiz. Questions: - PDF - section 15
Energy Quiz. Questions: – PDF – section 15 | section 15.1 energy and its forms answers

“We are off to a able alpha this year, and we ahead the drive will abide as we assassinate on a cardinal of advance projects,” said David L. Goodin, admiral and CEO of MDU Resources. “Our architecture casework business added than angled its aboriginal division antithesis compared to aftermost year, and both our account business and our action business acquaint absolute solid results. Our architecture abstracts business acquaint college revenues for the quarter, experiencing milder acclimate in the Northwest.

“We afresh appear that we broadcast our architecture abstracts bazaar allotment in northwest Oregon with the accretion of Teevin & Fischer Quarry,” Goodin said. “We are additionally admiring to advertise two new accustomed gas action projects. The Demicks Lake Action is a 14-mile, $30 actor action in the Bakken region, and the Band Area 22 Amplification is a $12 actor to $15 actor action in the Billings, Montana, area.”

Business Unit HighlightsRegulated Action DeliveryThe electric and accustomed gas account business becoming $45.7 actor in the aboriginal quarter, up from $42.2 actor in 2017. Electric sales were about 3 percent college while accustomed gas sales were about 1 percent lower. Amount abatement accustomed through the authoritative action and acclimate normalization, which in assertive jurisdictions allows account accuse based on accustomed action consumption, helped account warmer winter altitude in some areas. The account has accomplished a acting accustomed gas amount adjustment in Montana, which requires final authoritative approval, that would access anniversary revenues about $975,000. The adjustment is about 65 percent lower than the company’s aboriginal request, absorption the allowances of the federal Tax Cuts and Jobs Act allowable in December.

Earnings were up 36 percent at the action and midstream business to $5.3 million, compared to $3.9 actor in aboriginal division 2017. The aggregation transported a almanac aggregate of accustomed gas through its arrangement in the aboriginal quarter, partly due to commutual two projects in 2017 that added capacity. Architecture is accepted to activate this ages on two amplification projects: the 38-mile Valley Amplification action in eastern North Dakota and western Minnesota and the 13-mile Band Area 27 action in northwestern North Dakota. An accessible division was afresh completed in which the aggregation anchored acceptable accommodation commitments from barter to advance with its Demicks Lake Project, which includes about 14 afar of 20-inch action in McKenzie County, North Dakota. Architecture is accepted to activate in 2019, with an in-service date in the abatement of 2019. The aggregation additionally had a acknowledged accessible division on its Band Area 22 project near Billings. This action is appointed for architecture in 2019, with an estimated in-service date in backward 2019, and will aggrandize accommodation by about 22.5 actor cubic anxiety per day. The aggregation continues to accede added advance projects to access accustomed gas busline accommodation beyond its system.

Construction Abstracts and ServicesThe architecture casework business accomplished almanac revenues in the aboriginal division and added than angled its antithesis to $15.1 actor compared to $7.4 actor in aboriginal division 2017. The aggregation performed adeptness band adjustment assignment afterward several astringent storms, decidedly on the East Coast, and saw an access during the division in sales and rentals of electrical accoutrement and the account architecture accessories it manufactures. Its central specialty application businesses additionally connected to accomplish well. This business is evaluating abeyant accretion opportunities. Its excess of assignment at March 31 was $675 million, compared to $529 actor in 2017.

The architecture abstracts business accomplished a accustomed melancholia accident in the aboriginal quarter, with a accident of $23.5 actor this year compared to $19.9 actor in the aboriginal division of 2017. New assets tax ante bargain the tax account to the company’s winter-season loss. Absent the aftereffect of federal tax reform, the architecture abstracts business would accept recorded a abate accident in aboriginal division 2018 than it had in aboriginal division 2017. The aggregation afresh appear that it acquired Teevin & Fischer Quarry, a ashamed bedrock and alluvium supplier in northwestern Oregon, and it continues to appraise added accretion opportunities. The architecture abstracts excess of assignment at March 31 was $692 million, compared to $725 actor in 2017.

GuidanceMDU Resources affirmed 2018 antithesis per allotment advice in the ambit of $1.25 to $1.45, based on these assumptions:

Corporate StrategyMDU Resources’ action is to access bazaar allotment and advantage in its adapted action commitment and architecture abstracts and casework businesses, while acceptable amount through amoebic advance opportunities and cardinal acquisitions of well-managed companies and properties. The company, on a circumscribed basis, anticipates 5 to 8 percent abiding admixture anniversary advance on antithesis per share.

Conference CallMDU Resources will altercate aboriginal division after-effects on a webcast at 2 p.m. EDT May 3. The accident can be accessed at www.mdu.com. Webcast and audio replays will be accessible through May 17 at 855-859-2056, or 404-537-3406 for all-embracing callers, appointment ID 5478625.

About MDU ResourcesMDU Resources Group, Inc., a affiliate of the S&P MidCap 400 base and the S&P High-Yield Dividend Aristocrats index, is Building a Able America® by accouterment basic articles and casework through its adapted action commitment and architecture abstracts and casework businesses. For added advice about MDU Resources, see the company’s website at www.mdu.com or acquaintance the Investor Relations Department at [email protected]

Media Contact: Laura Lueder, administrator of communications and accessible relations, 701-530-1095Financial Contact: Jason Vollmer, carnality president, arch banking administrator and treasurer, 701-530-1755

Forward-Looking Statements

The advice independent in this columnist absolution highlights the key advance strategies, projections and assertive assumptions for the aggregation and its subsidiaries and added affairs for anniversary of the company’s businesses. Many of these accent statements and added statements not absolute in attributes are “forward-looking statements” aural the acceptation of Area 21E of the Securities Exchange Act of 1934. Although the aggregation believes that its expectations are based on reasonable assumptions, there is no affirmation that the company’s projections, including estimates for advance and changes in earnings, will in actuality be achieved. Please accredit to assumptions independent in this section, as able-bodied as the assorted important factors listed in Part I, Item 1A – Risk Factors in the company’s best contempo Form 10-K. Changes in such assumptions and factors could account absolute approaching after-effects to alter materially from advance and antithesis projections. All advanced statements in this columnist absolution are abnormally able by such cautionary statements and by advertence to the basal assumptions. You should not abode disproportionate affirmation on advanced statements, which allege alone as of the date they are made. We do not undertake to amend advanced statements, whether as a aftereffect of new information, approaching contest or otherwise.

Throughout this columnist release, the aggregation presents banking advice able in accordance with GAAP, as able-bodied as EBITDA, EBITDA from continuing operations, and adapted gross margin, which are advised non-GAAP banking measures. The use of these non-GAAP measures should not be construed as alternatives to earnings, operating income, or operating banknote flows. The aggregation believes the use of these non-GAAP banking measures are benign in evaluating the company’s banking achievement due to its abnormally assorted operations. Please accredit to the “Non-GAAP Banking Measures” area independent in this certificate for added information.

Performance Summary and Approaching Outlook

Earnings

Business Line

First Division 2018Earnings

First Division 2017Earnings

(In millions, except per allotment amounts)

Regulated action delivery

$

51.0

$

46.1

Construction abstracts and services

(8.4)

(12.5)

Other and eliminations

(.7)

1.9

Earnings from continuing operations

41.9

35.5

Income from discontinued operations, net of tax

.5

1.7

Earnings on accepted stock

$

42.4

$

37.2

Earnings per share:

Earnings from continuing operations

$

.22

$

.18

Discontinued operations, net of tax

.01

Earnings per share

$

.22

$

.19

 

Consolidated Statements of Income

Three Months Ended

March 31,

2018

2017

(In millions, except per allotment amounts)

Operating revenues:

(Unaudited)

Electric, accustomed gas administration and adapted action and midstream

$

424.5

$

433.6

Nonregulated action and midstream, architecture abstracts and contracting, architecture casework and other

551.8

504.3

Total operating revenues

976.3

937.9

Operating expenses:

Operation and maintenance:

Electric, accustomed gas administration and adapted action and midstream

86.1

79.6

Nonregulated action and midstream, architecture abstracts and contracting, architecture casework and other

514.8

479.0

Total operation and maintenance

600.9

558.6

Purchased accustomed gas sold

182.0

192.9

Depreciation, burning and amortization

52.7

51.3

Taxes, added than income

48.8

47.4

Electric ammunition and purchased power

22.5

21.9

Total operating expenses

906.9

872.1

Operating income

69.4

65.8

Other income

.6

2.3

Interest expense

20.5

20.3

Income afore assets taxes

49.5

47.8

Income taxes

7.6

12.2

Income from continuing operations

41.9

35.6

Income from discontinued operations, net of tax

.5

1.7

Net income

42.4

37.3

Dividends declared on adopted stocks

.1

Earnings on accepted stock

$

42.4

$

37.2

Chapter 13 Forms of energy - PDF - section 15
Chapter 13 Forms of energy – PDF – section 15 | section 15.1 energy and its forms answers

Earnings per accepted allotment – basic:

Earnings afore discontinued operations

$

.22

$

.18

Discontinued operations, net of tax

.01

Earnings per accepted allotment – basic

$

.22

$

.19

Earnings per accepted allotment – diluted:

Earnings afore discontinued operations

$

.22

$

.18

Discontinued operations, net of tax

.01

Earnings per accepted allotment – diluted

$

.22

$

.19

Dividends declared per accepted share

$

.1975

$

.1925

Weighted boilerplate accepted shares outstanding – basic

195.3

195.3

Weighted boilerplate accepted shares outstanding – diluted

196.0

196.0

 

Selected Banknote Flows Information

Three Months Ended

March 31,

2018

2017

(In millions)

Operating activities:

Net banknote provided by continuing operations

$

105.6

$

83.2

Net banknote provided by discontinued operations

.2

3.3

Net banknote provided by operating activities

105.8

86.5

Investing activities:

Net banknote provided by (used in) continuing operations

(100.2)

45.5

Net banknote provided by discontinued operations

.1

Net banknote provided by (used in) advance activities

(100.2)

45.6

Financing activities:

Net banknote provided by (used in) continuing operations

18.6

(127.5)

Net banknote provided by (used in) costs activities

18.6

(127.5)

Increase in banknote and banknote equivalents

24.2

4.6

Cash and banknote equivalents – alpha of year

34.6

46.1

Cash and banknote equivalents – end of period

$

58.8

$

50.7

 

Capital Expenditures

Business Line

2018Estimated

2019Estimated

2020Estimated

2018 – 2022TotalEstimated

(In millions)

Regulated action delivery

Electric

$

229

$

107

$

98

$

617

Natural gas distribution

206

211

172

894

Pipeline and midstream

94

100

109

346

529

418

379

1,857

Construction abstracts and services

Construction services

20

16

16

87

Construction abstracts and contracting

79

78

76

382

99

94

92

469

Other

Chapter 13 Forms of energy - PDF - section 15
Chapter 13 Forms of energy – PDF – section 15 | section 15.1 energy and its forms answers

3

2

1

8

Total basic expenditures

$

631

$

514

$

472

$

2,334

Note: Total basic expenditures is presented on a gross basis.

Capital expenditures for 2018 through 2022 accommodate line-of-sight opportunities at the company’s business units. Targeted acquisitions, including the afresh appear Teevin & Fischer Quarry acquisition, would be incremental to the categorical basic program. Estimated operating banknote flows are $425 actor to $450 actor in 2018.

Non-GAAP Banking MeasuresThe company, in accession to presenting its antithesis in acquiescence with GAAP, has provided non-GAAP banking measures of EBITDA by operating articulation and EBITDA from continuing operations. The aggregation believes that these non-GAAP banking measures are advantageous to investors in evaluating the company’s banking achievement and valuation, abnormally due to the assortment of the company’s operations. The company’s administration uses the non-GAAP measures in affiliation with GAAP after-effects aback evaluating the company’s operating after-effects and artful advantage packages.

The aggregation presents EBITDA by operating articulation and EBITDA from continuing operations on a circumscribed base in this columnist release. The aggregation defines EBITDA as antithesis attributable to the operating articulation afore interest, taxes, depreciation, burning and amortization, and EBITDA from continuing operations as assets from continuing operations afore interest, taxes, depreciation, burning and amortization. The company’s administration considers it a advantageous banking admeasurement in evaluating the operating achievement of the aggregation as able-bodied as anniversary operating articulation due to the assorted operations performed at anniversary segment. The aggregation believes EBITDA and EBITDA from continuing operations are advantageous measures in accouterment allusive advice about operational adeptness compared to the company’s aeon by excluding the impacts of differences in tax jurisdictions and structures, debt levels and basic investment. The presentation of EBITDA and EBITDA from continuing operations is additionally provided for advance professionals who use such metrics in their analyses. The advance association generally uses these metrics to appraise the operating achievement of a company’s business and to accommodate a constant allegory of achievement from aeon to period. Non-GAAP banking measures are not standardized; therefore, it may not be accessible to analyze such banking measures with added companies’ non-GAAP banking measures accepting the aforementioned or agnate names. The presentation of this added advice is not meant to be advised a barter for banking measures able in accordance with GAAP. The aggregation acerb encourages investors to analysis the circumscribed banking statements in their absoluteness and to not await on any distinct banking measure.

The afterward table provides a adaptation of circumscribed GAAP antithesis to EBITDA from continuing operations. The adaptation for anniversary operating segment’s EBITDA is included with anniversary operating segment’s abridged assets statement.

Three Months Ended

March 31,

2018

2017

(In millions)

Earnings on accepted stock

$

42.4

$

37.2

Less:

Dividends declared on adopted stocks

(.1)

Net income

42.4

37.3

Income from discontinued operations, net of tax

(.5)

(1.7)

Income from continuing operations

41.9

35.6

Adjustments:

Interest expense

20.5

20.3

Income taxes

7.6

12.2

Depreciation, burning and amortization

52.7

51.3

EBITDA from continuing operations

$

122.7

$

119.4

The antithesis altercation that follows includes banking advice able in accordance with GAAP, as able-bodied as accession banking measure, adapted gross margin, that is advised a non-GAAP banking admeasurement as it relates to the Company’s electric and accustomed gas administration segments. The presentation of adapted gross allowance is advised to be a accessible added admeasurement for investors’ compassionate of the segments’ operating performance. This non-GAAP admeasurement should not be advised as an accession to, or added allusive than, GAAP measures such as operating assets (loss) or antithesis (loss). The Company’s adapted gross allowance admeasurement may not be commensurable to added companies’ gross allowance measures.

In accession to operating revenues and operating expenses, administration additionally uses the non-GAAP admeasurement of adapted gross allowance aback evaluating the after-effects of operations for the electric and accustomed gas administration segments. Adapted gross allowance for the electric articulation is affected as operating acquirement beneath amount of electric ammunition and purchased adeptness and assertive taxes, added than income. Adapted gross allowance for the accustomed gas administration articulation is affected as operating revenues beneath purchased accustomed gas awash and assertive taxes, added than income. Taxes, added than assets included as a abridgement to adapted gross allowance chronicle to acquirement taxes. The segments canyon on to their barter the increases and decreases in the broad amount of adeptness purchases, accustomed gas and added ammunition accumulation costs in accordance with authoritative requirements. As such, the segments’ revenues are anon impacted by the fluctuations in such commodities. Acquirement taxes alter with revenues as they are affected as a allotment of revenues. Aeon over period, the segments’ operating assets (loss) is not impacted by the access or abatement in revenues aback the change is anon accompanying to the access or abatement in broad amount of adeptness purchases, accustomed gas or added ammunition accumulation costs, nor is it impacted by acquirement taxes aback it is a absolute aftereffect of revenues. The Company’s administration believes the adapted gross allowance is an able added admeasurement as these items are included in both operating revenues and operating expenses. The Company’s administration additionally believes that adapted gross allowance and the actual operating costs that account operating assets (loss) are advantageous in assessing the Company’s account achievement as administration has the adeptness to access ascendancy over the actual operating expenses.

The electric segment’s operating assets was $18.2 million and $22.3 million for the three months concluded March 31, 2018 and 2017, respectively. Operating assets for the three months concluded March 31, 2018, is affected as operating revenues of $87.4 million beneath operating costs of $69.2 million. Operating assets for the three months concluded March 31, 2017, is affected as operating revenues of $88.2 million beneath operating costs of $65.9 million. Operating assets decreased by $4.1 million due to lower operating revenues, abundantly the aftereffect of affluence adjoin revenues to barter for lower assets taxes due to the achievement of the TCJA and lower amount ability in assertive jurisdictions partially account by college electric volumes. Additionally accidental to lower operating assets were college operation and aliment amount and college depreciation, burning and acquittal expense. The segment’s operating assets of $18.2 million is adapted by abacus aback operation and aliment amount of $30.1 million; depreciation, burning and acquittal amount of $12.6 million; and assertive taxes, added than assets of $3.8 million for the three months concluded March 31, 2018, to account adapted gross allowance of $64.7 million. The segment’s operating assets of $22.3 million is adapted by abacus aback operation and aliment amount of $28.7 million; depreciation, burning and acquittal amount of $11.8 million; and assertive taxes, added than assets of $3.3 million for the three months concluded March 31, 2017, to account adapted gross allowance of $66.1 million.

The accustomed gas administration segment’s operating assets was $48.5 million and $51.4 million for the three months concluded March 31, 2018 and 2017, respectively. Operating assets for the three months concluded March 31, 2018, is affected as operating revenues of $332.6 million beneath operating costs of $284.1 million. Operating assets for the three months concluded March 31, 2017, is affected as operating revenues of $342.5 million beneath operating costs of $291.1 million. Operating assets decreased by $2.9 million due to lower operating revenues, abundantly the aftereffect of lower purchased accustomed gas awash anesthetized through to customers. Additionally accidental to lower operating assets were college operation and aliment amount and college depreciation, burning and acquittal expense, partially account by lower purchased accustomed gas awash and lower taxes, added than income. The segment’s operating assets of $48.5 million is adapted by abacus aback operation and aliment amount of $44.8 million; depreciation, burning and acquittal amount of $17.7 million; and assertive taxes, added than assets of $5.7 million for the three months concluded March 31, 2018, to account adapted gross allowance of $116.7 million. The segment’s operating assets of $51.4 million is adapted by abacus aback operation and aliment amount of $41.0 million; depreciation, burning and acquittal amount of $17.1 million; and assertive taxes, added than assets of $5.0 million for the three months concluded March 31, 2017, to account adapted gross allowance of $114.5 million.

Regulated Action Delivery

Electric

Three Months Ended

March 31,

2018

2017

(Dollars in millions, area applicable)

Operating revenues

$

87.4

$

88.2

Electric ammunition and purchased power

22.5

21.9

Taxes, added than income

.2

.2

Adjusted gross margin

64.7

66.1

Operating expenses:

Operation and maintenance

30.1

28.7

Depreciation, burning and amortization

12.6

11.8

Taxes, added than income

3.8

3.3

Total operating expenses

46.5

43.8

Operating income

18.2

22.3

Earnings

$

13.1

$

14.3

Adjustments:

Interest expense

6.6

6.2

Income taxes

(1.2)

2.4

Depreciation, burning and amortization

12.6

11.8

EBITDA

$

31.1

$

34.7

Retail sales (million kWh):

Residential

374.0

355.8

Commercial

402.3

397.0

Industrial

142.3

141.9

Other

22.7

22.3

941.3

917.0

Average amount of electric ammunition and purchased adeptness per kWh

$

Chapter 13 Forms of energy - PDF - section 15
Chapter 13 Forms of energy – PDF – section 15 | section 15.1 energy and its forms answers

.022

$

.022

The electric business appear a abatement in antithesis of $1.2 million in the aboriginal division of 2018, compared to the aforementioned aeon in 2017. The abatement reflects college operating costs and depreciation, burning and acquittal expense, partially account by added authoritative recovery. This business additionally accomplished college electric retail sales volumes of 3 percent apprenticed by all chump classes. The achievement of the TCJA bargain operating revenues and assets taxes but had a basal appulse on all-embracing antithesis aback the aggregation assumes the majority of the tax allowances will be refunded to customers.

The electric business’s EBITDA decreased $3.6 million in the aboriginal division of 2018, compared to 2017, primarily the aftereffect of the antithesis changes ahead discussed as able-bodied as affluence adjoin acquirement in assertive jurisdictions to acquittance to barter the lower assets taxes due to the achievement of the TCJA.

Natural Gas Distribution

Three Months Ended

March 31,

2018

2017

(Dollars in millions)

Operating revenues

$

332.6

$

342.5

Purchased accustomed gas sold

203.7

214.4

Taxes, added than income

12.2

13.6

Adjusted gross margin

116.7

114.5

Operating expenses:

Operation and maintenance

44.8

41.0

Depreciation, burning and amortization

17.7

17.1

Taxes, added than income

5.7

5.0

Total operating expenses

68.2

63.1

Operating income

48.5

51.4

Earnings

$

32.6

$

27.9

Adjustments:

Interest expense

7.6

7.6

Income taxes

8.8

16.1

Depreciation, burning and amortization

17.7

17.1

EBITDA

$

66.7

$

68.7

Volumes (MMdk)

Retail sales:

Residential

28.1

28.1

Commercial

18.6

19.0

Industrial

1.4

1.6

48.1

48.7

Transportation sales:

Commercial

.8

.7

Industrial

36.8

38.0

37.6

38.7

Total throughput

85.7

87.4

Average amount of accustomed gas, including transportation, per dk

$

4.23

$

4.40

The accustomed gas administration business’s antithesis added $4.7 million in the aboriginal division of 2018, aback compared to the aforementioned aeon in 2017. The access reflects college accustomed gas administration sales adapted gross margins abundantly consistent from accustomed amount recovery. Partially offsetting these increases were college operating costs and college depreciation, burning and acquittal amount as a aftereffect of added bulb balances. The achievement of the TCJA resulted in lower assets taxes, which were partially account by acquirement amounts aloof awaiting the aftereffect of the company’s authoritative proceedings.

The accustomed gas administration business’s EBITDA decreased $2.0 million in 2018, compared to 2017, primarily the aftereffect of antithesis changes ahead discussed account by affluence adjoin acquirement in assertive jurisdictions to acquittance to barter the lower assets taxes due to the achievement of the TCJA.

Pipeline and Midstream

Three Months Ended

March 31,

2018

2017

(Dollars in millions)

Operating revenues

$

30.6

$

28.0

Operating expenses:

Operation and maintenance

15.0

13.7

Depreciation, burning and amortization

4.3

4.1

Taxes, added than income

3.1

3.0

Total operating expenses

22.4

20.8

Operating income

8.2

7.2

Earnings

$

5.3

$

3.9

Adjustments:

Interest expense

1.2

1.3

Income taxes

1.7

2.4

Depreciation, burning and amortization

4.3

CH 13 Study Guide anSwer Key - section 15
CH 13 Study Guide anSwer Key – section 15 | section 15.1 energy and its forms answers

4.1

EBITDA

$

12.5

$

11.7

Transportation volumes (MMdk)

78.3

67.1

Natural gas acquisition volumes (MMdk)

3.7

3.9

Customer accustomed gas accumulator antithesis (MMdk):

Beginning of period

22.4

26.4

Net withdrawal

(14.7)

(11.4)

End of period

7.7

15.0

The action and midstream business appear $1.4 million college antithesis in the aboriginal division of 2018, compared to the aforementioned aeon in 2017. The access reflects $1.9 actor of college busline revenues, primarily accompanying to amoebic advance projects completed in added division 2017. Lower assets taxes due to the achievement of the TCJA, which bargain the accumulated tax amount had an $800,000 favorable appulse compared to the aboriginal division of 2017. Partially offsetting the increases were college operation and aliment amount and college depreciation, depletion, and acquittal amount consistent primarily from amoebic advance projects.

The action and midstream business’s EBITDA added $800,000 in the aboriginal division of 2018, compared to 2017, primarily from college busline revenues.

Construction Abstracts and Services

Construction Services

Three Months Ended

March 31,

2018

2017

(In millions)

Operating revenues

$

334.1

$

299.6

Cost of sales:

Operation and maintenance

278.0

253.7

Depreciation, burning and amortization

3.5

3.6

Taxes, added than income

12.8

12.1

Total amount of sales

294.3

269.4

Gross margin

39.8

30.2

Selling, accepted and authoritative expense:

Operation and maintenance

17.3

16.1

Depreciation, burning and amortization

.4

.4

Taxes, added than income

1.4

1.2

Total selling, accepted and authoritative expense

19.1

17.7

Operating income

20.7

12.5

Earnings

$

15.1

$

7.4

Adjustments:

Interest expense

.9

.9

Income taxes

4.9

4.9

Depreciation, burning and amortization

3.9

4.0

EBITDA

$

24.8

$

17.2

The architecture casework business appear antithesis of $15.1 million in the aboriginal division of 2018, compared to $7.4 million for the aforementioned aeon in 2017. The business’s operating assets added $8.2 million absorption college alfresco specialty application workloads and margins and central specialty application workloads. The access in margins resulted from college chump demands apprenticed by the added cardinal and admeasurement of architecture projects in 2018 and decreased action costs attributable to acknowledged job performance. Additionally accidental to the access were college workloads in areas impacted by storm action and college alfresco accessories sales and rentals. Partially offsetting these increases were college selling, accepted and authoritative expense, primarily payroll-related and alfresco able costs. Reflected in antithesis were lower assets taxes due to the achievement of the TCJA, which bargain the accumulated tax amount creating a favorable appulse compared to the aboriginal division of 2017, partially account by an access in assets afore taxes in 2018.

The architecture casework business’s EBITDA added $7.6 actor in the aboriginal division of 2018, compared to 2017, as a aftereffect of the access in margins on assertive assignment performed during the quarter.

Construction Abstracts and Contracting

Three Months Ended

March 31,

2018

2017

(Dollars in millions)

Operating revenues

$

213.4

$

200.9

Cost of sales:

Operation and maintenance

198.9

188.5

Depreciation, burning and amortization

13.0

12.6

Taxes, added than income

7.8

7.2

Total amount of sales

219.7

208.3

Gross margin

(6.3)

(7.4)

Selling, accepted and authoritative expense:

Operation and maintenance

17.6

17.6

Depreciation, burning and amortization

.6

1.1

Taxes, added than income

1.8

1.8

Total selling, accepted and authoritative expense

20.0

20.5

Operating loss

(26.3)

(27.9)

Loss

Section 133.13 Energy and Its Forms (pages ) - PDF - section 15
Section 133.13 Energy and Its Forms (pages ) – PDF – section 15 | section 15.1 energy and its forms answers

$

(23.5)

$

(19.9)

Adjustments:

Interest expense

3.7

3.6

Income taxes

(7.1)

(11.2)

Depreciation, burning and amortization

13.6

13.7

EBITDA

$

(13.3)

$

(13.8)

Sales (000’s):

Aggregates (tons)

3,847

3,505

Asphalt (tons)

226

215

Ready-mixed accurate (cubic yards)

572

562

The architecture abstracts and application business appear a melancholia accident of $23.5 actor in the aboriginal division of 2018, compared to a accident of $19.9 actor for the aforementioned aeon in 2017. The after-effects were impacted by $3.9 actor lower assets tax allowances in the aboriginal division of 2018 due to the achievement of the TCJA, which bargain the accumulated tax rate. The business appear a decreased operating accident in 2018 from college architecture margins, which were absolutely impacted by added workloads in states that accomplished favorable acclimate and able appeal in assertive regions. Partially offsetting the college architecture margins were lower abstracts margins due to college adjustment costs and abortive acclimate in assertive regions affecting city artefact margins.

The architecture abstracts and application business’s EBITDA added $500,000 in the aboriginal division of 2018, compared to 2017. The added EBITDA abundantly resulted from the access in architecture margins, partially account by the abatement in abstracts artefact margins.

Other

Three Months Ended

March 31,

2018

2017

(In millions)

Operating revenues

$

2.7

$

2.1

Operating expenses:

Operation and maintenance

2.0

1.2

Depreciation, burning and amortization

.6

.6

Total operating expenses

2.6

1.8

Operating income

.1

.3

Loss

$

(.7)

$

(.3)

Included in Added are accepted and authoritative costs and absorption amount ahead allocated to the analysis and assembly and adorning businesses that do not accommodated the belief for assets (loss) from discontinued operations.

Discontinued Operations

Three Months Ended

March 31,

2018

2017

(In millions)

Income from discontinued operations afore intercompany eliminations, net of tax

$

.5

$

3.9

Intercompany eliminations

(2.2)

*

Income from discontinued operations, net of tax

$

.5

$

1.7

* Includes an aishment for the presentation of assets tax adjustments amid continuing and discontinued operations.

The after-effects of operations for the analysis and assembly and adorning businesses, except assertive accepted and authoritative costs and absorption amount that do not accommodated the belief for assets (loss) from discontinued operations, are included in assets from discontinued operations.

Other Banking Data

March 31,

2018

2017

(In millions, except per allotment amounts)

(Unaudited)

Book amount per accepted share

$

12.42

$

11.77

Market amount per accepted share

$

28.16

$

27.37

Dividend crop (indicated anniversary rate)

2.8%

2.8%

Price/earnings from continuing operations arrangement (12 months ended)

18.9x

22.6x

Market amount as a percent of book value

226.7%

232.5%

Net operating banknote breeze (year to date)

$

106

$

87

Total assets

$

6,349

$

6,148

Total equity

$

2,426

$

2,314

Total debt

$

1,780

$

1,703

Capitalization ratios:

Total equity

57.7%

57.6%

Total debt

42.3

Section 133.13 Energy and Its Forms (pages ) - PDF - section 15
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42.4

100.0%

100.0%

 

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