What is the primary revenue source for NiSource (NI)?

According to the latest financial reports, the company's revenue is driven by its core business segments and operational services. You can explore the exact breakdown and proportions of each revenue stream using the interactive charts on this page.

How can I visualize and analyze NI's financial statements?

gkcal provides interactive Sankey diagrams and profit waterfall charts that map out NiSource's total revenue, cost of goods sold, operating expenses, and net income, making it easy to understand their business model and cash flow at a glance.

How NiSource Makes Money: NI Revenue Breakdown (2026)

Income Statement – NI Q1 2026 Income Statement (Q1 2026)

Income Statement Q1 2026
Item	Category	Value	YoY
Customer revenues	revenue	2.32B	8.04%
Regulated operating revenue	revenue	2.36B	8.24%
Operating income	profit	819.20M	7.87%
Operating costs and expenses	cost	1.54B	8.44%
Income before income taxes	profit	642.00M	1.52%
Other, net	revenue	14.40M	148.28%
Total other deductions, net	revenue	177.20M	39.53%
Cost of energy	cost	669.20M	3.35%
Utilities operating expense, maintenance and operations	cost	489.20M	14.35%
Depreciation, depletion and amortization	cost	288.30M	11.48%
Taxes, miscellaneous	cost	97.20M	8.48%
Net income	profit	556.20M	5.60%
Income taxes	cost	85.80M	-18.83%
Interest expense, nonoperating	cost	191.60M	44.28%
Net income attributable to nisource	profit	507.10M	6.80%
Net income attributable to noncontrolling interest	cost	49.10M	-5.39%
Net income available to common shareholders	profit	510.70M	7.56%
Preferred stock dividends, income statement impact	cost	3.60M

Business Breakdown
Segment	Value	YoY
Columbia Operations	1.33B	7.15%
NIPSCO Operations	993.70M	9.25%
Corporate Segment and Other Operating	1.40M	16.67%

Balance Sheet – NI Q1 2026 Balance Sheet (Q1 2026)

Balance Sheet Q1 2026
Item	Category	Value
Accounts receivable	assets	1.28B
Accounts receivable, net	assets	1.24B
Accounts receivable, allowance for credit loss, current	assets	46.10M
Public utilities, property, plant and equipment, plant in service	assets	39.04B
Regulatory assets, noncurrent	assets	2.30B
Goodwill	assets	1.49B
Deferred charges and other	assets	695.60M
Regulatory asset, current	assets	380.60M
Prepaid expense, current	assets	209.10M
Inventory, raw materials and supplies, gross	assets	193.80M
Available-for-sale debt securities (amortized cost of $157.8 and $145.8)	assets	156.70M
Other long-term investments	assets	116.30M
Other assets, current	assets	102.50M
Energy related inventory, natural gas in storage	assets	88.40M
Cash and cash equivalent	assets	71.90M
Exchange gas receivable	assets	69.60M
Restricted cash	assets	25.20M
Energy related inventory, coal	assets	21.30M
Income taxes receivable	assets	11.50M
Unconsolidated affiliates	assets	8.20M
Public utilities, property, plant and equipment, net	assets	29.43B
Public utilities, property, plant and equipment, accumulated depreciation	assets	9.62B
Other assets, noncurrent	assets	4.48B
Current assets	assets	2.41B
Total investments and other assets	assets	281.20M
Total assets	assets	36.60B
Total capitalization	liabilities	27.39B
Other liabilities	liabilities	5.49B
Current liabilities	liabilities	3.73B
Long-term debt and lease obligation	liabilities	15.46B
Total stockholders’ equity	liabilities	11.93B
Deferred income taxes	liabilities	2.59B
Regulatory liability, noncurrent	liabilities	1.58B
Asset retirement obligations	liabilities	793.40M
Finance lease obligations	liabilities	289.60M
Liability, pension and other postretirement and postemployment benefits, noncurrent	liabilities	157.90M
Accrued insurance liabilities	liabilities	79.60M
Short-term debt	liabilities	1.29B
Accounts payable, current	liabilities	999.30M
Taxes payable, current	liabilities	240.80M
Interest payable, current	liabilities	218.80M
Regulatory liability, current	liabilities	204.30M
Other liabilities, current	liabilities	200.40M
Accrued compensation and employee benefits	liabilities	153.50M
Customer deposits and credits	liabilities	148.10M
Dividends payable - common stock	liabilities	147.40M
Exchange gas payable	liabilities	56.50M
Asset retirement obligation	liabilities	49.90M
Long-term debt and lease obligation, current	liabilities	16.80M
Noncontrolling interest in consolidated subsidiaries	liabilities	2.27B
Treasury stock, value	equity	99.90M
Retained earnings (accumulated deficit)	equity	96.60M
Accumulated other comprehensive income (loss), net of tax	equity	9.20M
Shares outstanding	equity	9.66B
Aggregate	equity	9.86B
Additional paid in capital, common stock	equity	9.86B
Common stock, value, issued	equity	4.80M

Cash Flow Statement – NI 3M 2026 Cash Flow Statement (3M 2026)

Operating Activities – 3M 2026
Item	Value
Net income	556.20M
Depreciation, depletion and amortization	288.30M
Deferred income taxes and investment tax credits	75.80M
Increase (decrease) in regulatory assets and liabilities	50.50M
Other adjustments	18.30M
Other noncurrent liabilities and deferred credits and charges	200000
Asset retirement obligation, cash paid to settle	-15.50M
Increase (decrease) in other operating assets and liabilities, net	-531.50M

Investing Activities – 3M 2026
Item	Value
Payments for advanced deposits for project costs	-22.40M
Payment for (proceeds from) other investing activity	-45.00M
Payments to acquire property, plant, and equipment	-805.20M

Financing Activities – 3M 2026
Item	Value
Net change in commercial paper and other short-term borrowings	555.00M
Contributions from nipsco and genco minority interest holders	25.50M
Proceeds from issuance of common stock	3.90M
Distributions to tax equity partners	-3.20M
Finance lease, principal payments	-5.90M
Payments to noncontrolling interests	-19.90M
Payment of financing and stock issuance costs	-22.70M
Payments of ordinary dividends, common stock	-149.00M

Cash Balance – 3M 2026
Item	Value
Cash and cash equivalents, beginning of period	135.70M
Cash and cash equivalents, end of period	97.10M

Income Statement – NI Q1 2026 Income Statement (Q1 2026)

Balance Sheet – NI Q1 2026 Balance Sheet (Q1 2026)

Cash Flow Statement – NI 3M 2026 Cash Flow Statement (3M 2026)

Financial Insights

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