TEXAS AND VIRGINIA
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1-10042
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75-1743247
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---------------------------------
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------------------------
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----------------------
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(State or Other Jurisdiction
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(Commission File
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(I.R.S. Employer
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of Incorporation)
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Number)
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Identification No.)
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1800 THREE LINCOLN CENTRE,
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5430 LBJ FREEWAY, DALLAS, TEXAS
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75240
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----------------------------------------------------
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-----------------
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(Address of Principal Executive Offices)
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(Zip Code)
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Item 2.02.
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Results of Operations and Financial Condition.
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Item 9.01.
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Financial Statements and Exhibits.
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Exhibit Number
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Description
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99.1
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News Release dated February 2, 2016 (furnished under Item 2.02)
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ATMOS ENERGY CORPORATION
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(Registrant)
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DATE: February 2, 2016
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By:
/s/ LOUIS P. GREGORY
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Louis P. Gregory
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Senior Vice President, General Counsel
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and Corporate Secretary
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Exhibit Number
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Description
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99.1
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News Release dated February 2, 2016 (furnished under Item 2.02)
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News Release
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•
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Fiscal
2016
first
quarter consolidated net income, excluding net unrealized margins, was
$95.6 million
, or
$0.93
per diluted share, compared with consolidated net income, excluding net unrealized margins of
$92.8 million
, or
$0.91
per diluted share in the prior-year quarter.
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•
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Fiscal
2016
first
quarter consolidated net income was
$102.9 million
, or
$1.00
per diluted share, after including unrealized net
gains
of
$7.3 million
, or
$0.07
per diluted share. Net income was
$97.6 million
, or
$0.96
per diluted share in the prior-year quarter, after including unrealized net
gains
of
$4.8 million
or
$0.05
per diluted share.
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•
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The company's Board of Directors has declared a quarterly dividend of $0.42 per common share. The indicated annual dividend for fiscal
2016
is $1.68, which represents a 7.7 percent increase over fiscal 2015.
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Statements of Income
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Three Months Ended
December 31, |
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(000s except per share)
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2015
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2014
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Gross Profit:
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Regulated distribution segment
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$
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333,461
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$
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323,812
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Regulated pipeline segment
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94,677
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83,567
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Nonregulated segment
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15,758
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16,039
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Intersegment eliminations
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(133
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)
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(133
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)
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Gross profit
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443,763
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423,285
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Operation and maintenance expense
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124,848
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118,582
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Depreciation and amortization
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71,239
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67,593
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Taxes, other than income
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51,471
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49,385
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Total operating expenses
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247,558
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235,560
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Operating income
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196,205
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187,725
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Miscellaneous expense
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(1,209
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)
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(1,707
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)
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Interest charges
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30,483
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29,764
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Income before income taxes
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164,513
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156,254
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Income tax expense
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61,652
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58,659
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Net income
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$
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102,861
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$
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97,595
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Basic and diluted earnings per share
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$
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1.00
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$
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0.96
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Cash dividends per share
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$
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0.42
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$
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0.39
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Basic and diluted weighted average shares outstanding
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102,713
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101,581
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Three Months Ended
December 31, |
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Summary Net Income (Loss) by Segment (000s)
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2015
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|
2014
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Regulated distribution
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$
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73,255
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$
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71,387
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Regulated pipeline
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25,586
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22,035
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Nonregulated
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(3,241
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)
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(584
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)
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Unrealized margins, net of tax
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7,261
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4,757
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Consolidated net income
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$
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102,861
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$
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97,595
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Condensed Balance Sheets
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December 31,
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September 30,
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(000s)
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2015
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2015
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Net property, plant and equipment
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$
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7,653,287
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$
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7,430,580
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Cash and cash equivalents
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78,903
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28,653
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Accounts receivable, net
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456,904
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295,160
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Gas stored underground
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236,017
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236,603
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Other current assets
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91,446
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70,569
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Total current assets
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863,270
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630,985
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Goodwill
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742,702
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742,702
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Deferred charges and other assets
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295,394
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288,678
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$
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9,554,653
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$
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9,092,945
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Shareholders' equity
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$
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3,272,109
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$
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3,194,797
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Long-term debt
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2,455,474
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2,455,388
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Total capitalization
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5,727,583
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5,650,185
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Accounts payable and accrued liabilities
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280,487
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238,942
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Other current liabilities
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471,333
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457,954
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Short-term debt
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763,236
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457,927
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Total current liabilities
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1,515,056
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1,154,823
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Deferred income taxes
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1,441,325
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1,411,315
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Deferred credits and other liabilities
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870,689
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876,622
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$
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9,554,653
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$
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9,092,945
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Condensed Statements of Cash Flows
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Three Months Ended
December 31, |
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(000s)
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2015
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2014
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Cash flows from operating activities
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Net income
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$
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102,861
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$
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97,595
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Depreciation and amortization
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71,239
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67,593
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Deferred income taxes
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59,299
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55,418
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Other
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4,733
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5,164
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Changes in assets and liabilities
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(167,639
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)
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(198,355
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)
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Net cash provided by operating activities
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70,493
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27,415
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Cash flows from investing activities
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Capital expenditures
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(291,674
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)
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(261,313
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)
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Other, net
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1,029
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(739
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)
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Net cash used in investing activities
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(290,645
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)
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(262,052
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)
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Cash flows from financing activities
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Net increase in short-term debt
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305,309
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350,574
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Net proceeds from issuance of long-term debt
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—
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493,538
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Settlement of Treasury lock agreements
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—
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13,364
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Repayment of long-term debt
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—
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(500,000
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)
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Cash dividends paid
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(43,636
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)
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(39,592
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)
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Repurchase of equity awards
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—
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(7,985
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)
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Issuance of common stock
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8,729
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6,312
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Net cash provided by financing activities
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270,402
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316,211
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Net increase in cash and cash equivalents
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50,250
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81,574
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Cash and cash equivalents at beginning of period
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28,653
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42,258
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Cash and cash equivalents at end of period
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$
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78,903
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$
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123,832
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Three Months Ended
December 31, |
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Statistics
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2015
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2014
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Consolidated distribution throughput (MMcf as metered)
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100,928
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123,434
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Consolidated pipeline transportation volumes (MMcf)
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129,159
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120,634
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Consolidated nonregulated delivered gas sales volumes (MMcf)
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85,131
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90,930
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Regulated distribution meters in service
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3,167,352
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3,133,951
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Regulated distribution average cost of gas
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$
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4.44
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$
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6.02
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Nonregulated net physical position (Bcf)
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23.5
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17.1
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