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TEXAS AND VIRGINIA
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1-10042
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75-1743247
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(State or Other Jurisdiction
of Incorporation)
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(Commission
File Number)
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(I.R.S. Employer
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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(Address of Principal Executive Offices)
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(Zip Code)
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¨
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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¨
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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¨
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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¨
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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(d)
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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 May 6, 2015 (furnished under Item 2.02)
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ATMOS ENERGY CORPORATION
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(Registrant)
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DATE:
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May 6, 2015
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By:
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/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 May 6, 2015 (furnished under Item 2.02)
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•
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Fiscal
2015
second
quarter consolidated net income, excluding net unrealized margins, was
$138.5 million
, or
$1.36
per diluted share, compared with consolidated net income, excluding net unrealized margins, of
$132.4 million
, or
$1.37
per diluted share in the prior-year quarter.
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•
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Fiscal
2015
second
quarter consolidated net income was
$137.7 million
, or
$1.35
per diluted share, after including unrealized net
losses
of
$(0.8) million
, or
$(0.01)
per diluted share. Net income was
$133.4 million
, or
$1.38
per diluted share in the prior-year quarter, after including unrealized net
gains
of
$1.0 million
, or
$0.01
per diluted share.
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•
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The company's Board of Directors has declared a quarterly dividend of 39 cents per common share. The indicated annual dividend for fiscal
2015
is $1.56, which represents a 5.4 percent increase over fiscal 2014.
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Consolidated Statements of Income
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Three Months Ended
March 31 |
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(000s except per share)
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2015
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2014
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Gross Profit:
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Regulated distribution segment
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$
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406,235
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$
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385,188
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Regulated pipeline segment
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91,730
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73,615
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Nonregulated segment
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22,906
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37,589
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Intersegment eliminations
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(133
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)
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(115
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)
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Gross profit
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520,738
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496,277
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Operation and maintenance expense
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133,460
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124,675
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Depreciation and amortization
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68,022
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61,307
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Taxes, other than income
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69,046
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60,215
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Total operating expenses
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270,528
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246,197
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Operating income
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250,210
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250,080
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Miscellaneous expense
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(1,561
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)
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(1,516
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)
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Interest charges
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27,447
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31,601
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Income before income taxes
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221,202
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216,963
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Income tax expense
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83,518
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83,596
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Net income
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$
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137,684
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$
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133,367
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Basic net income per share
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$
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1.35
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$
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1.38
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Diluted net income per share
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$
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1.35
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$
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1.38
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Cash dividends per share
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$
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0.39
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$
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0.37
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Weighted average shares outstanding:
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Basic
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101,746
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96,174
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Diluted
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101,746
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96,176
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Three Months Ended
March 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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101,853
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$
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88,743
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Regulated pipeline
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27,682
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24,109
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Nonregulated
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8,955
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19,518
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Unrealized margins, net of tax
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(806
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)
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997
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Consolidated net income
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$
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137,684
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$
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133,367
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Consolidated Statements of Income
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Six Months Ended
March 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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730,047
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$
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684,359
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Regulated pipeline segment
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175,297
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144,956
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Nonregulated segment
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38,945
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56,155
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Intersegment eliminations
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(266
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(236
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)
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Gross profit
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944,023
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885,234
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Operation and maintenance expense
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252,042
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240,432
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Depreciation and amortization
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135,615
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121,776
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Taxes, other than income
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118,431
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102,226
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Total operating expenses
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506,088
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464,434
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Operating income
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437,935
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420,800
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Miscellaneous expense
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(3,268
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)
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(3,648
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)
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Interest charges
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57,211
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63,716
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Income before income taxes
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377,456
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353,436
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Income tax expense
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142,177
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133,053
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Net income
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$
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235,279
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$
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220,383
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Basic net income per share
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$
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2.31
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$
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2.34
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Diluted net income per share
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$
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2.31
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$
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2.34
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Cash dividends per share
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$
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0.78
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$
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0.74
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Weighted average shares outstanding:
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Basic
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101,667
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94,013
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Diluted
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101,667
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94,015
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Six Months Ended
March 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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173,240
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$
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151,500
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Regulated pipeline
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49,717
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43,555
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Nonregulated
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8,371
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17,884
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Unrealized margins, net of tax
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3,951
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7,444
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Consolidated net income
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$
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235,279
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$
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220,383
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Condensed Consolidated Balance Sheets
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March 31,
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September 30,
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(000s)
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2015
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2014
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Net property, plant and equipment
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$
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7,026,078
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$
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6,725,906
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Cash and cash equivalents
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95,525
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42,258
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Accounts receivable, net
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511,830
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343,400
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Gas stored underground
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143,154
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278,917
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Other current assets
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67,128
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111,265
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Total current assets
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817,637
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775,840
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Goodwill
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742,029
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742,029
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Deferred charges and other assets
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340,900
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350,929
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$
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8,926,644
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$
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8,594,704
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Shareholders’ equity
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$
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3,139,694
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$
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3,086,232
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Long-term debt
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2,455,217
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2,455,986
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Total capitalization
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5,594,911
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5,542,218
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Accounts payable and accrued liabilities
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295,589
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308,086
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Other current liabilities
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497,927
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405,869
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Short-term debt
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224,986
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196,695
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Total current liabilities
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1,018,502
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910,650
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Deferred income taxes
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1,338,755
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1,286,616
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Deferred credits and other liabilities
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974,476
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855,220
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$
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8,926,644
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$
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8,594,704
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Condensed Consolidated Statements of Cash Flows
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Six Months Ended
March 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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235,279
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$
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220,383
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Depreciation and amortization
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135,615
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121,776
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Deferred income taxes
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131,292
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119,710
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Other
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10,898
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11,187
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Changes in assets and liabilities
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27,764
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17,925
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Net cash provided by operating activities
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540,848
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490,981
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Cash flows from investing activities
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Capital expenditures
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(441,644
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)
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(359,009
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)
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Other, net
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(1,346
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)
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(4,904
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)
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Net cash used in investing activities
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(442,990
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)
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(363,913
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)
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Cash flows from financing activities
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Net increase (decrease) in short-term debt
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21,839
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(369,012
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)
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Net proceeds from issuance of long-term debt
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493,538
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—
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Settlement of interest rate agreements
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13,364
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—
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Repayment of long-term debt
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(500,000
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)
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—
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Cash dividends paid
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(78,074
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)
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(71,380
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)
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Repurchase of equity awards
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(7,985
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)
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(6,317
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)
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Net proceeds from equity offering
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—
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390,205
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Issuance of common stock
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12,727
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(23
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Net cash used in financing activities
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(44,591
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)
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(56,527
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)
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Net increase in cash and cash equivalents
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53,267
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70,541
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Cash and cash equivalents at beginning of period
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42,258
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66,199
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Cash and cash equivalents at end of period
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$
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95,525
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$
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136,740
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Three Months Ended
March 31 |
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Six Months Ended
March 31 |
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Statistics
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2015
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2014
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2015
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2014
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Consolidated regulated distribution throughput (MMcf as metered)
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183,014
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191,487
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306,448
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321,972
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Consolidated regulated pipeline volumes (MMcf)
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126,371
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115,830
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247,005
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234,604
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Consolidated nonregulated delivered gas sales volumes (MMcf)
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105,401
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119,967
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196,331
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212,604
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Regulated distribution meters in service
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3,136,441
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3,037,571
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3,136,441
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3,037,571
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Regulated distribution average cost of gas
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$
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5.08
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$
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6.00
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$
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5.44
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$
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5.82
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Nonregulated net physical position (Bcf)
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17.0
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1.9
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17.0
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1.9
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