Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2017 | Oct. 27, 2017 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q3 | |
Trading Symbol | SWX | |
Entity Registrant Name | SOUTHWEST GAS HOLDINGS, INC. | |
Entity Central Index Key | 1,692,115 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 47,731,840 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Utility plant: | ||
Gas plant | $ 6,440,547 | $ 6,193,564 |
Less: accumulated depreciation | (2,218,796) | (2,172,966) |
Acquisition adjustments, net | 81 | 196 |
Construction work in progress | 164,030 | 111,177 |
Net utility plant | 4,385,862 | 4,131,971 |
Other property and investments | 369,303 | 342,343 |
Current assets: | ||
Cash and cash equivalents | 59,152 | 28,066 |
Accounts receivable, net of allowances | 301,792 | 285,145 |
Accrued utility revenue | 34,100 | 76,200 |
Income taxes receivable, net | 5,462 | 4,455 |
Deferred purchased gas costs | 6,230 | 2,608 |
Prepaids and other current assets | 132,182 | 136,833 |
Total current assets | 538,918 | 533,307 |
Noncurrent assets: | ||
Goodwill | 147,865 | 139,983 |
Deferred income taxes | 1,467 | 1,288 |
Deferred charges and other assets | 411,655 | 432,234 |
Total noncurrent assets | 560,987 | 573,505 |
Total assets | 5,855,070 | 5,581,126 |
Capitalization: | ||
Common stock | 49,362 | 49,112 |
Additional paid-in capital | 924,213 | 903,123 |
Accumulated other comprehensive income (loss), net | (42,818) | (48,008) |
Retained earnings | 784,934 | 759,263 |
Total Southwest Gas Holdings, Inc./Total Southwest Gas Corporation equity | 1,715,691 | 1,663,490 |
Noncontrolling interest | (2,295) | (2,217) |
Total equity | 1,713,396 | 1,661,273 |
Redeemable noncontrolling interest | 22,590 | |
Long-term debt, less current maturities | 1,731,981 | 1,549,983 |
Total capitalization | 3,445,377 | 3,233,846 |
Current liabilities: | ||
Current maturities of long-term debt | 28,453 | 50,101 |
Short-term debt | 110,500 | |
Accounts payable | 159,382 | 184,669 |
Customer deposits | 70,162 | 72,296 |
Income taxes payable | 1,543 | 1,909 |
Accrued general taxes | 48,998 | 42,921 |
Accrued interest | 24,543 | 17,939 |
Deferred purchased gas costs | 14,971 | 90,476 |
Other current liabilities | 197,854 | 168,064 |
Total current liabilities | 656,406 | 628,375 |
Deferred income taxes and other credits: | ||
Deferred income taxes and investment tax credits | 894,011 | 840,653 |
Accumulated removal costs | 312,000 | 308,000 |
Other deferred credits and other long-term liabilities | 547,276 | 570,252 |
Total deferred income taxes and other credits | 1,753,287 | 1,718,905 |
Total capitalization and liabilities | 5,855,070 | 5,581,126 |
Southwest Gas Corporation [Member] | ||
Utility plant: | ||
Gas plant | 6,440,547 | 6,193,564 |
Less: accumulated depreciation | (2,218,796) | (2,172,966) |
Acquisition adjustments, net | 81 | 196 |
Construction work in progress | 164,030 | 111,177 |
Net utility plant | 4,385,862 | 4,131,971 |
Other property and investments | 115,841 | 108,569 |
Current assets: | ||
Cash and cash equivalents | 46,467 | 19,024 |
Accounts receivable, net of allowances | 68,028 | 111,845 |
Accrued utility revenue | 34,100 | 76,200 |
Income taxes receivable, net | 6,440 | 4,455 |
Deferred purchased gas costs | 6,230 | 2,608 |
Prepaids and other current assets | 118,587 | 126,363 |
Total current assets | 279,852 | 340,495 |
Noncurrent assets: | ||
Goodwill | 10,095 | 10,095 |
Deferred charges and other assets | 393,942 | 410,625 |
Discontinued operations-construction services-assets | 579,371 | |
Total noncurrent assets | 404,037 | 1,000,091 |
Total assets | 5,185,592 | 5,581,126 |
Capitalization: | ||
Common stock | 49,112 | 49,112 |
Additional paid-in capital | 917,581 | 897,346 |
Accumulated other comprehensive income (loss), net | (42,299) | (45,639) |
Retained earnings | 606,007 | 767,061 |
Total Southwest Gas Holdings, Inc./Total Southwest Gas Corporation equity | 1,530,401 | 1,667,880 |
Discontinued operations-construction services non-owner equity | 15,983 | |
Total equity | 1,530,401 | 1,667,880 |
Long-term debt, less current maturities | 1,520,790 | 1,375,080 |
Total capitalization | 3,051,191 | 3,058,943 |
Current liabilities: | ||
Current maturities of long-term debt | 25,000 | |
Short-term debt | 83,000 | |
Accounts payable | 92,257 | 138,229 |
Customer deposits | 70,162 | 72,296 |
Accrued general taxes | 48,998 | 42,921 |
Accrued interest | 24,406 | 17,395 |
Deferred purchased gas costs | 14,971 | 90,476 |
Payable to parent | 2,560 | |
Other current liabilities | 109,705 | 95,999 |
Total current liabilities | 446,059 | 482,316 |
Deferred income taxes and other credits: | ||
Deferred income taxes and investment tax credits | 853,682 | 806,109 |
Accumulated removal costs | 312,000 | 308,000 |
Other deferred credits and other long-term liabilities | 522,660 | 545,143 |
Discontinued operations-construction services-liabilities | 380,615 | |
Total deferred income taxes and other credits | 1,688,342 | 2,039,867 |
Total capitalization and liabilities | $ 5,185,592 | $ 5,581,126 |
Condensed Consolidated Balance3
Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares | Sep. 30, 2017 | Dec. 31, 2016 |
Statement of Financial Position [Abstract] | ||
Common stock, par | $ 1 | $ 1 |
Common stock, authorized | 60,000,000 | 60,000,000 |
Common stock, issued | 47,731,840 | 47,482,068 |
Common stock, outstanding | 47,731,840 | 47,482,068 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Operating revenues: | ||||||
Gas operating revenues | $ 213,059 | $ 200,179 | $ 935,823 | $ 980,927 | $ 1,276,308 | $ 1,376,388 |
Construction revenues | 380,094 | 339,790 | 872,536 | 838,038 | 1,173,576 | 1,127,982 |
Total operating revenues | 593,153 | 539,969 | 1,808,359 | 1,818,965 | 2,449,884 | 2,504,370 |
Gas operating revenues | 213,059 | 200,179 | 935,823 | 980,927 | 1,276,308 | 1,376,388 |
Operating expenses: | ||||||
Net cost of gas sold | 45,539 | 39,056 | 261,839 | 324,072 | 334,888 | 460,836 |
Operations and maintenance | 102,278 | 102,438 | 314,488 | 301,979 | 414,233 | 400,222 |
Depreciation and amortization | 58,529 | 69,845 | 189,089 | 217,764 | 260,457 | 286,977 |
Taxes other than income taxes | 14,046 | 12,480 | 43,325 | 39,480 | 56,221 | 51,810 |
Construction expenses | 342,629 | 300,611 | 806,586 | 757,919 | 1,073,090 | 1,009,188 |
Total operating expenses | 563,021 | 524,430 | 1,615,327 | 1,641,214 | 2,138,889 | 2,209,033 |
Operating income (loss) | 30,132 | 15,539 | 193,032 | 177,751 | 310,995 | 295,337 |
Other income and (expenses): | ||||||
Net interest deductions | (19,494) | (18,158) | (56,863) | (54,100) | (76,423) | (71,884) |
Other income (deductions) | 2,876 | 2,565 | 8,788 | 6,756 | 11,501 | 10,861 |
Total other income and (expenses) | (16,618) | (15,593) | (48,075) | (47,344) | (64,922) | (61,023) |
Income (loss) before income taxes | 13,514 | (54) | 144,957 | 130,407 | 246,073 | 234,314 |
Income tax expense (benefit) | 3,094 | (2,961) | 47,411 | 43,046 | 82,833 | 80,255 |
Net income | 10,420 | 2,907 | 97,546 | 87,361 | 163,240 | 154,059 |
Net income attributable to noncontrolling interests | 216 | 435 | 170 | 500 | 684 | 1,079 |
Net income (loss) | $ 10,204 | $ 2,472 | $ 97,376 | $ 86,861 | $ 162,556 | $ 152,980 |
Basic earnings per share | $ 0.21 | $ 0.05 | $ 2.05 | $ 1.83 | $ 3.42 | $ 3.22 |
Diluted earnings per share | 0.21 | 0.05 | 2.03 | 1.82 | 3.39 | 3.20 |
Dividends declared per share | $ 0.495 | $ 0.450 | $ 1.485 | $ 1.350 | $ 1.935 | $ 1.755 |
Average number of common shares outstanding | 47,628 | 47,481 | 47,577 | 47,464 | 47,553 | 47,442 |
Average shares outstanding (assuming dilution) | 47,986 | 47,830 | 47,912 | 47,802 | 47,896 | 47,787 |
Southwest Gas Corporation [Member] | ||||||
Operating revenues: | ||||||
Gas operating revenues | $ 213,059 | $ 200,179 | $ 935,823 | $ 980,927 | $ 1,276,308 | $ 1,376,388 |
Gas operating revenues | 213,059 | 200,179 | 935,823 | 980,927 | 1,276,308 | 1,376,388 |
Operating expenses: | ||||||
Net cost of gas sold | 45,539 | 39,056 | 261,839 | 324,072 | 334,888 | 460,836 |
Operations and maintenance | 102,215 | 102,438 | 313,395 | 301,979 | 413,140 | 400,222 |
Depreciation and amortization | 46,194 | 56,436 | 153,643 | 174,413 | 212,693 | 228,609 |
Taxes other than income taxes | 14,046 | 12,480 | 43,325 | 39,480 | 56,221 | 51,810 |
Total operating expenses | 207,994 | 210,410 | 772,202 | 839,944 | 1,016,942 | 1,141,477 |
Operating income (loss) | 5,065 | (10,231) | 163,621 | 140,983 | 259,366 | 234,911 |
Other income and (expenses): | ||||||
Net interest deductions | (17,421) | (16,364) | (51,622) | (49,155) | (69,464) | (65,146) |
Other income (deductions) | 3,081 | 2,521 | 8,744 | 6,712 | 10,308 | 9,615 |
Total other income and (expenses) | (14,340) | (13,843) | (42,878) | (42,443) | (59,156) | (55,531) |
Income (loss) before income taxes | (9,275) | (24,074) | 120,743 | 98,540 | 200,210 | 179,380 |
Income tax expense (benefit) | (5,251) | (11,669) | 38,307 | 31,004 | 65,887 | 59,544 |
Net income | 82,436 | 87,361 | 148,130 | 154,059 | ||
Net income (loss) from continuing operations | (4,024) | (12,405) | 82,436 | 67,536 | 134,323 | 119,836 |
Discontinued operations-construction services, income before income taxes | 24,020 | 31,867 | 21,649 | 54,934 | ||
Discontinued operations-construction services, Income tax expense | 8,708 | 12,042 | 7,842 | 20,711 | ||
Discontinued operations-construction services, Income | 15,312 | 19,825 | 13,807 | 34,223 | ||
Discontinued operations-construction services - Noncontrolling interests | 435 | 500 | 514 | 1,079 | ||
Income-discontinued operations | 14,877 | 19,325 | 13,293 | 33,144 | ||
Net income (loss) | $ (4,024) | $ 2,472 | $ 82,436 | $ 86,861 | $ 147,616 | $ 152,980 |
Condensed Consolidated Stateme5
Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Net income | $ 10,420 | $ 2,907 | $ 97,546 | $ 87,361 | $ 163,240 | $ 154,059 |
Defined benefit pension plans: | ||||||
Net actuarial gain (loss) | (14,118) | (18,922) | ||||
Amortization of prior service cost | 207 | 207 | 621 | 621 | 828 | 828 |
Amortization of net actuarial loss | 3,944 | 4,196 | 11,832 | 12,586 | 16,027 | 17,915 |
Regulatory adjustment | (3,555) | (3,796) | (10,667) | (11,388) | (2,741) | (404) |
Net defined benefit pension plans | 596 | 607 | 1,786 | 1,819 | (4) | (583) |
Forward-starting interest rate swaps: | ||||||
Amounts reclassified into net income | 518 | 518 | 1,554 | 1,556 | 2,073 | 2,073 |
Net forward-starting interest rate swaps | 518 | 518 | 1,554 | 1,556 | 2,073 | 2,073 |
Foreign currency translation adjustments | 1,012 | (238) | 1,861 | 614 | 1,408 | 233 |
Total other comprehensive income (loss), net of tax | 2,126 | 887 | 5,201 | 3,989 | 3,477 | 1,723 |
Comprehensive income | 12,546 | 3,794 | 102,747 | 91,350 | 166,717 | 155,782 |
Comprehensive income attributable to noncontrolling interests | 198 | 427 | 181 | 521 | 679 | 1,089 |
Comprehensive income (loss) | 12,348 | 3,367 | 102,566 | 90,829 | 166,038 | 154,693 |
Southwest Gas Corporation [Member] | ||||||
Net income (loss) from continuing operations | (4,024) | (12,405) | 82,436 | 67,536 | 134,323 | 119,836 |
Net income | 82,436 | 87,361 | 148,130 | 154,059 | ||
Defined benefit pension plans: | ||||||
Net actuarial gain (loss) | (14,118) | (18,922) | ||||
Amortization of prior service cost | 207 | 207 | 621 | 621 | 828 | 828 |
Amortization of net actuarial loss | 3,944 | 4,196 | 11,832 | 12,586 | 16,027 | 17,915 |
Regulatory adjustment | (3,555) | (3,796) | (10,667) | (11,388) | (2,741) | (404) |
Net defined benefit pension plans | 596 | 607 | 1,786 | 1,819 | (4) | (583) |
Forward-starting interest rate swaps: | ||||||
Amounts reclassified into net income | 518 | 518 | 1,554 | 1,556 | 2,073 | 2,073 |
Net forward-starting interest rate swaps | 518 | 518 | 1,554 | 1,556 | 2,073 | 2,073 |
Total other comprehensive income (loss), net of tax | 1,114 | 1,125 | 3,340 | 3,375 | 2,069 | 1,490 |
Comprehensive income | (2,910) | (11,280) | 85,776 | 70,911 | 136,392 | 121,326 |
Discontinued operations-construction services, net income | 14,877 | 19,325 | 13,293 | 33,144 | ||
Discontinued operations-construction services, foreign currency translation adjustments | (238) | 614 | (453) | 233 | ||
Discontinued operations-construction services, comprehensive income | 14,639 | 19,939 | 12,840 | 33,377 | ||
Discontinued operations-construction services, comprehensive income (loss) attributable to noncontrolling interests | (8) | 21 | (16) | 10 | ||
Comprehensive income attributable to discontinued operations-construction services | 14,647 | 19,918 | 12,856 | 33,367 | ||
Comprehensive income (loss) | $ (2,910) | $ 3,367 | $ 85,776 | $ 90,829 | $ 149,248 | $ 154,693 |
Condensed Consolidated Stateme6
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
CASH FLOW FROM OPERATING ACTIVITIES: | ||||
Net income | $ 97,546 | $ 87,361 | $ 163,240 | $ 154,059 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||
Depreciation and amortization | 189,089 | 217,764 | 260,457 | 286,977 |
Deferred income taxes | 49,409 | 43,702 | 74,439 | 86,526 |
Changes in current assets and liabilities: | ||||
Accounts receivable, net of allowances | (15,330) | 28,531 | (13,765) | (17,889) |
Accrued utility revenue | 42,100 | 41,700 | (1,100) | (800) |
Deferred purchased gas costs | (79,127) | 81,389 | (114,658) | 79,460 |
Accounts payable | (26,771) | (24,942) | 19,866 | 10,445 |
Accrued taxes | 4,689 | (7,055) | 38,084 | (11,033) |
Other current assets and liabilities | 43,044 | 12,022 | 3,590 | 22,034 |
Gains on sale | (1,452) | (4,117) | (4,483) | (4,200) |
Changes in undistributed stock compensation | 9,199 | 4,347 | 10,308 | 5,142 |
AFUDC | (2,077) | (1,893) | (2,473) | (2,890) |
Changes in other assets and deferred charges | (14,470) | 3,926 | (1,436) | 4,183 |
Changes in other liabilities and deferred credits | 3,395 | (4,813) | (10,239) | 702 |
Net cash provided by operating activities | 299,244 | 477,922 | 421,830 | 612,716 |
CASH FLOW FROM INVESTING ACTIVITIES: | ||||
Construction expenditures and property additions | (449,998) | (404,388) | (575,141) | (555,819) |
Acquisition of businesses, net of cash acquired | (17,000) | (17,000) | ||
Changes in customer advances | (1,951) | 5,445 | 504 | 9,445 |
Miscellaneous inflows | 9,160 | 7,965 | 14,234 | 4,726 |
Net cash used in investing activities | (442,789) | (407,978) | (560,403) | (558,648) |
CASH FLOW FROM FINANCING ACTIVITIES: | ||||
Issuance of common stock, net | 11,563 | 530 | 11,505 | 507 |
Dividends paid | (68,503) | (61,950) | (89,870) | (81,138) |
Centuri distribution to redeemable noncontrolling interest | (204) | (99) | (544) | (198) |
Issuance of long-term debt, net | 104,308 | 408,946 | 119,308 | 420,946 |
Retirement of long-term debt | (100,240) | (196,351) | (159,162) | (240,999) |
Change in credit facility and commercial paper | 145,000 | (150,000) | 150,000 | (97,000) |
Change in short-term debt | 110,500 | (18,000) | 110,500 | |
Principal payments on capital lease obligations | (796) | (1,125) | (1,025) | (1,449) |
Redemption of Centuri shares from noncontrolling parties | (23,000) | (23,000) | ||
Withholding remittance-share-based compensation | (3,176) | (2,119) | (3,176) | (2,164) |
Other | (1,104) | (605) | (2,068) | (60) |
Net cash provided by (used in) financing activities | 174,348 | (20,773) | 112,468 | (1,555) |
Effects of currency translation on cash and cash equivalents | 283 | (14) | 103 | (318) |
Change in cash and cash equivalents | 31,086 | 49,157 | (26,002) | 52,195 |
Cash and cash equivalents at beginning of period | 28,066 | 35,997 | 85,154 | 32,959 |
Cash and cash equivalents at end of period | 59,152 | 85,154 | 59,152 | 85,154 |
Supplemental information: | ||||
Interest paid, net of amounts capitalized | 45,771 | 47,134 | 66,077 | 68,445 |
Income taxes paid (received) | 3,687 | 6,530 | (21,875) | 9,899 |
Southwest Gas Corporation [Member] | ||||
CASH FLOW FROM OPERATING ACTIVITIES: | ||||
Net income | 82,436 | 87,361 | 148,130 | 154,059 |
Income (loss) from discontinued operations | 19,825 | 13,807 | 34,223 | |
Net income (loss) from continuing operations | 82,436 | 67,536 | 134,323 | 119,836 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||
Depreciation and amortization | 153,643 | 174,413 | 212,693 | 228,609 |
Deferred income taxes | 44,621 | 39,953 | 72,627 | 76,837 |
Changes in current assets and liabilities: | ||||
Accounts receivable, net of allowances | 43,818 | 91,680 | (7,131) | 8,543 |
Accrued utility revenue | 42,100 | 41,700 | (1,100) | (800) |
Deferred purchased gas costs | (79,127) | 81,389 | (114,658) | 79,460 |
Accounts payable | (45,972) | (47,060) | 17,271 | 1,467 |
Accrued taxes | 4,092 | (5,660) | 29,143 | 4,567 |
Other current assets and liabilities | 32,453 | (819) | (224) | 9,135 |
Changes in undistributed stock compensation | 7,999 | 4,347 | 9,108 | 5,142 |
AFUDC | (2,077) | (1,893) | (2,473) | (2,890) |
Changes in other assets and deferred charges | (14,861) | 3,664 | (1,914) | 3,834 |
Changes in other liabilities and deferred credits | 2,883 | (4,813) | (10,751) | 702 |
Net cash provided by operating activities | 272,008 | 444,437 | 336,914 | 534,442 |
CASH FLOW FROM INVESTING ACTIVITIES: | ||||
Construction expenditures and property additions | (395,463) | (337,921) | (514,661) | (485,665) |
Changes in customer advances | (1,951) | 5,445 | 504 | 9,445 |
Miscellaneous inflows | 2,407 | 2,464 | 2,925 | 3,506 |
Dividends received | 2,801 | 9,660 | 5,602 | |
Net cash used in investing activities | (395,007) | (327,211) | (501,572) | (467,112) |
CASH FLOW FROM FINANCING ACTIVITIES: | ||||
Issuance of common stock, net | 530 | (58) | 507 | |
Contributions from parent | 11,659 | 11,659 | ||
Dividends paid | (60,497) | (61,950) | (81,864) | (81,138) |
Issuance of long-term debt, net | 296,469 | 296,469 | ||
Retirement of long-term debt | (25,000) | (124,855) | (25,000) | (124,855) |
Change in credit facility and commercial paper | 145,000 | (150,000) | 150,000 | (97,000) |
Change in short-term debt | 83,000 | (18,000) | 83,000 | |
Withholding remittance-share-based compensation | (3,176) | (2,119) | (3,176) | (2,164) |
Other | (544) | (605) | (1,508) | (9) |
Net cash provided by (used in) financing activities | 150,442 | (60,530) | 133,053 | (8,190) |
Net cash provided by discontinued operating activities | 33,485 | 57,680 | 78,274 | |
Net cash used in discontinued investing activities | (80,767) | (11,049) | (91,536) | |
Net cash provided by (used in) discontinued financing activities | 39,757 | (44,491) | 6,635 | |
Effects of currency translation on cash and cash equivalents | (14) | (180) | (318) | |
Change in cash and cash equivalents | 27,443 | 49,157 | (29,645) | 52,195 |
Change in cash and cash equivalents of discontinued operations included in discontinued operations construction services assets | 7,539 | (1,960) | 6,945 | |
Change in cash and cash equivalents of continuing operations | 27,443 | 56,696 | (31,605) | 59,140 |
Cash and cash equivalents at beginning of period | 19,024 | 21,376 | 78,072 | 18,932 |
Cash and cash equivalents at end of period | 46,467 | 78,072 | 46,467 | 78,072 |
Supplemental information: | ||||
Interest paid, net of amounts capitalized | 40,751 | 42,804 | 59,448 | 63,031 |
Income taxes paid (received) | $ 4 | $ (3,055) | $ (27,952) | $ (16,600) |
Nature of Operations and Basis
Nature of Operations and Basis of Presentation | 9 Months Ended |
Sep. 30, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Nature of Operations and Basis of Presentation | Note 1 – Nature of Operations and Basis of Presentation Nature of Operations. Note 9 – Construction Services Redeemable Noncontrolling Interest In January 2017, a previously contemplated and approved reorganization under a holding company structure was made effective. The reorganization was designed to provide further separation between regulated and unregulated businesses, and to provide additional financing flexibility. Coincident with the effective date of the reorganization, existing shareholders of Southwest Gas Corporation became shareholders of Southwest Gas Holdings, Inc., on a one-for-one Southwest Gas Corporation (“Southwest” or the “natural gas operations segment”) is engaged in the business of purchasing, distributing, and transporting natural gas for customers in portions of Arizona, Nevada, and California. Public utility rates, practices, facilities, and service territories of Southwest are subject to regulatory oversight. The timing and amount of rate relief can materially impact results of operations. Natural gas purchases and the timing of related recoveries can materially impact liquidity. Results for the natural gas operations segment are higher during winter periods due to the seasonality incorporated in its regulatory rate structures. Centuri is a comprehensive construction services enterprise dedicated to meeting the growing demands of North American utilities, energy and industrial markets. Centuri derives revenue from installation, replacement, repair, and maintenance of energy distribution systems, and developing industrial construction solutions. Centuri operations are generally conducted under the business names of NPL Construction Co. (“NPL”), NPL Canada Ltd. (“NPL Canada”, formerly Link-Line Contractors Ltd.), W.S. Nicholls Construction, Inc. (“W.S. Nicholls”), and Brigadier Pipelines Inc. (“Brigadier”). Typically, Centuri revenues are lowest during the first quarter of the year due to unfavorable winter weather conditions. Operating revenues typically improve as more favorable weather conditions occur during the summer and fall months. Basis of Presentation. Form 10-Q, Note 10 – Reorganization Impacts – Discontinued Operations Solely Related to Southwest Gas Corporation non-current No substantive change has occurred with regard to the Company’s business segments on the whole, or in the primary businesses comprising those segments as a result of the foregoing organizational changes. Centuri operations continue to be part of continuing operations and included in the consolidated financial statements of Southwest Gas Holdings, Inc. The preparation of the condensed consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. In the opinion of management, all adjustments, consisting of normal recurring items and estimates necessary for a fair statement of results for the interim periods, have been made. It is suggested that these condensed consolidated financial statements be read in conjunction with the consolidated financial statements and the notes thereto included in the 2016 Annual Report to Shareholders, which is incorporated by reference into the 2016 Form 10-K. Prepaids and other current assets. Other current liabilities Cash and Cash Equivalents. Significant non-cash non-cash Adoption of Accounting Standards Update (“ASU”) No. 2016-09. No. 2016-09 Under the new guidance, the Company can withhold any amount between the minimum and maximum individual statutory tax rates and still treat the entire award as equity. The Company intends to administer withholding such that awards under stock compensation programs will continue to be treated as equity awards. In addition to the above, the update requires all income tax-related Amendments related to the timing of when excess tax benefits are recognized, minimum statutory withholding requirements, forfeitures, and intrinsic value are required to be applied using a modified retrospective transition method by means of a cumulative-effect adjustment to equity as of the beginning of the period in which the guidance is adopted. The Company had no previously unrecognized tax benefits as a result of these changes; therefore, no cumulative effect adjustment to the Company’s opening retained earnings was required. Goodwill. (In thousands of dollars) Natural Gas Construction Consolidated December 31, 2016 $ 10,095 $ 129,888 $ 139,983 Foreign currency translation adjustment — 7,882 7,882 September 30, 2017 $ 10,095 $ 137,770 $ 147,865 Intercompany Transactions Note 3— Segment Information September 30, 2017 December 31, 2016 Centuri accounts receivable for services provided to Southwest $ 11,486 $ 10,585 The accounts receivable balance, revenues, and associated profits are included in the condensed consolidated financial statements of the Company and were not eliminated during consolidation in accordance with accounting treatment for rate-regulated entities. Other Property and Investments. September 30, 2017 December 31, 2016 Centuri property and equipment $ 493,599 $ 451,114 Centuri accumulated provision for depreciation and amortization (251,831 ) (228,374 ) Net cash surrender value of COLI policies 114,052 106,744 Other property 13,483 12,859 Total $ 369,303 $ 342,343 Other Income (Deductions). Three Months Ended Nine Months Ended Twelve Months Ended September 30 September 30 September 30 2017 2016 2017 2016 2017 2016 Southwest Gas Corporation—natural gas operations segment: Change in COLI policies $ 2,100 $ 2,300 $ 6,800 $ 5,400 $ 8,800 $ 7,500 Interest income 670 522 1,848 1,279 2,417 1,664 Equity AFUDC 968 611 2,077 1,893 2,473 2,890 Miscellaneous income and (expense) (657 ) (912 ) (1,981 ) (1,860 ) (3,382 ) (2,439 ) Southwest Gas Corporation—total other income (deductions) 3,081 2,521 8,744 6,712 10,308 9,615 Construction services segment: Interest income 1 — 2 1 2 414 Foreign transaction gain (loss) (442 ) (3 ) (640 ) (22 ) (640 ) 28 Miscellaneous income and (expense) 231 47 676 65 1,825 804 Centuri—total other income (deductions) (210 ) 44 38 44 1,187 1,246 Corporate and administrative 5 — 6 — 6 — Consolidated Southwest Gas Holdings, Inc.—total other income (deductions) $ 2,876 $ 2,565 $ 8,788 $ 6,756 $ 11,501 $ 10,861 Included in the table above is the change in cash surrender values of company-owned life insurance (“COLI”) policies (including net death benefits recognized). These life insurance policies on members of management and other key employees are used by Southwest to indemnify itself against the loss of talent, expertise, and knowledge, as well as to provide indirect funding for certain nonqualified benefit plans. Current tax regulations provide for tax-free Recently Issued Accounting Standards Updates. one-year Deliberations have been ongoing by the utility industry, notably in connection with efforts to produce an accounting guide intended to be developed by the American Institute of Certified Public Accountants (“AICPA”). In association with this undertaking, the AICPA formed a number of industry task forces, including a Power & Utilities (“P&U”) Task Force, on which Company personnel actively participate via formal membership. Industry representatives and organizations, the largest auditing firms, the AICPA’s Revenue Recognition Working Group and its Financial Reporting Executive Committee have undertaken, and continue to undertake, consideration of several items relevant to the utility industry. Where applicable or necessary, the FASB’s Transition Resource Group (“TRG”) has also participated. Through the P&U Task Force undertakings, general determinations were made that contributions received in aid of construction (“CIAC”) efforts related to the industry’s pipe distribution and transmission systems are reimbursements of expenditures rather than revenue (consistent with current accounting practices). Furthermore, regarding the “collectibility” criterion in the update that must be met for revenue recognition, general determinations have been made that contracts for utility service (including service to lower income or lower credit quality customers) represent genuine and valid contracts for which revenue is able to be recognized when service is rendered (consistent with current accounting practices). These determinations by the P&U industry are based on the various measures the industry takes to help ensure collectibility (e.g., proof of creditworthiness, customer deposits, late fee assessment, disconnection, service re-establishment With regard to the construction services segment, the principles of the new revenue recognition guidance are very similar to existing guidance for construction contractors. Similar to the P&U Task Force noted above, the AICPA formed the Engineering and Construction Contractors Task Force to assist the construction industry with implementing the new guidance. The accounting guide the AICPA intends to release is expected to provide implementation guidance related to several issues including 1) combining contracts and separating performance obligations; 2) estimating change orders, incentives, penalties, liquidated damages and other variable consideration items and 3) acceptable measures of progress when recognizing revenue over time. Management of both segments of the Company has substantially completed assessments of sources of revenue and the effects that adoption of the new guidance will have on the Company’s (and Southwest’s in the case of utility operations) financial position, results of operations, and cash flows. Based on assessments completed to date, management believes that such impacts will not be material overall. Presentation and disclosure requirements of the new guidance will have the most impact on the Company’s financial statements and note disclosures. The Company is currently planning to adopt the new guidance in 2018 under the modified retrospective transition method, as permissible. In January 2016, the FASB issued the update “Financial Instruments – Overall (Subtopic 825-10): In February 2016, the FASB issued the update “Leases (Topic 842).” Under the update, lessees will be required to recognize the following for all leases (with the exception of short-term leases) at the commencement date: • A lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis; and • A right-of-use Under the new guidance, lessor accounting is largely unchanged. Certain targeted improvements were made to align, where necessary, lessor accounting with the lessee accounting model and Topic 606, Revenue from Contracts with Customers. Though companies have historically been required to make disclosures regarding leases and of associated contractual obligations, leases (with terms longer than a year) will no longer exist off-balance In June 2016, the FASB issued the update “Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.” The update amends guidance on reporting credit losses for financial assets held at amortized cost basis and available for sale debt securities. For assets held at amortized cost basis, the update eliminates the “probable” threshold for initial recognition of credit losses in current U.S. GAAP and, instead, requires an entity to reflect its current estimate of all expected credit losses. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of the financial asset to present the net amount expected to be collected. For available for sale debt securities, credit losses should be measured in a manner similar to current U.S. GAAP, however the update will require that credit losses be presented as an allowance rather than as a write-down. This update affects entities holding financial assets and net investment in leases that are not accounted for at fair value through net income. The update affects loans, debt securities, trade receivables, net investments in leases, off-balance In August 2016, the FASB issued the update “Classification of Certain Cash Receipts and Cash Payments.” This update addresses the following specific cash flow issues: debt prepayment or debt extinguishment costs; settlement of zero-coupon In October 2016, the FASB issued the update “Accounting for Income Taxes: Intra-Entity Asset Transfers of Assets Other than Inventory.” This update eliminates the current U.S. GAAP exception for all intra-entity sales of assets other than inventory. As a result, a reporting entity would recognize the tax expense from the sale of the asset in the seller’s tax jurisdiction when the transfer occurs, even though the pre-tax In January 2017, the FASB issued the update “Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment.” The update eliminates Step 2 from the goodwill impairment test. The annual, or interim, goodwill impairment test is performed by comparing the fair value of a reporting unit with its carrying amount. An impairment charge should be recognized for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. In addition, income tax effects from any tax-deductible In March 2017, the FASB issued the update “Compensation – Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost.” The update applies to all employers that offer employee benefits under defined benefit pension plans, other postretirement benefit plans, or other types of benefits accounted for under Topic 715, Compensation – Retirement Benefits. The update requires that an employer report the service cost component in the same line item or items as other compensation costs arising from services rendered by the employees during the period. The other components of net benefit cost are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations, and be appropriately described. The update also allows only the service cost component (and not the other components of periodic benefit costs) to be eligible for capitalization when applicable, making no exception for specialized industries, including rate-regulated Southwest is a rate-regulated utility offering pension and postretirement benefits to retired employees. It is anticipated that Southwest would continue to request recovery of the total costs of defined benefit plans in rate applications filed with its various regulatory bodies. Rate-regulated entities providing utility and transmission services have historically capitalized a portion of periodic benefit costs (including non-service non-service non-service non-service |
Components of Net Periodic Bene
Components of Net Periodic Benefit Cost | 9 Months Ended |
Sep. 30, 2017 | |
Text Block [Abstract] | |
Components of Net Periodic Benefit Cost | Note 2 – Components of Net Periodic Benefit Cost Southwest has a noncontributory qualified retirement plan with defined benefits covering substantially all employees and a separate unfunded supplemental retirement plan (“SERP”) which is limited to officers. Southwest also provides postretirement benefits other than pensions (“PBOP”) to its qualified retirees for health care, dental, and life insurance. Net periodic benefit costs included in the table below are components of an overhead loading process associated with the cost of labor. The overhead process ultimately results in allocation of net periodic benefit costs to the same accounts to which productive labor is charged. As a result, net periodic benefit costs become components of various accounts, primarily operations and maintenance expense, net utility plant, and deferred charges and other assets for both the Company and Southwest. Qualified Retirement Plan Period Ended September 30, Three Months Nine Months Twelve Months 2017 2016 2017 2016 2017 2016 (Thousands of dollars) Service cost $ 5,848 $ 5,708 $ 17,544 $ 17,125 $ 23,252 $ 23,406 Interest cost 11,520 11,507 34,561 34,520 46,068 45,577 Expected return on plan assets (13,799 ) (14,140 ) (41,397 ) (42,419 ) (55,536 ) (56,871 ) Amortization of net actuarial loss 6,001 6,317 18,003 18,950 24,319 27,136 Net periodic benefit cost $ 9,570 $ 9,392 $ 28,711 $ 28,176 $ 38,103 $ 39,248 SERP Period Ended September 30, Three Months Nine Months Twelve Months 2017 2016 2017 2016 2017 2016 (Thousands of dollars) Service cost $ 77 $ 83 $ 232 $ 248 $ 315 $ 328 Interest cost 471 464 1,413 1,394 1,878 1,818 Amortization of net actuarial loss 361 346 1,081 1,038 1,426 1,361 Net periodic benefit cost $ 909 $ 893 $ 2,726 $ 2,680 $ 3,619 $ 3,507 PBOP Period Ended September 30, Three Months Nine Months Twelve Months 2017 2016 2017 2016 2017 2016 (Thousands of dollars) Service cost $ 367 $ 375 $ 1,101 $ 1,124 $ 1,476 $ 1,534 Interest cost 808 795 2,424 2,386 3,218 3,136 Expected return on plan assets (839 ) (787 ) (2,518 ) (2,362 ) (3,305 ) (3,228 ) Amortization of prior service costs 333 333 1,001 1,001 1,335 1,335 Amortization of net actuarial loss — 104 — 312 105 398 Net periodic benefit cost $ 669 $ 820 $ 2,008 $ 2,461 $ 2,829 $ 3,175 |
Segment Information
Segment Information | 9 Months Ended |
Sep. 30, 2017 | |
Segment Reporting [Abstract] | |
Segment Information | Note 3 – Segment Information The Company has two reportable segments: natural gas operations and construction services. Southwest has a single reportable segment that is referred to herein as the natural gas operations segment of the Company. In order to reconcile to net income as disclosed in the Condensed Consolidated Statements of Income, an Other column is included associated with impacts related to corporate and administrative activities related to Southwest Gas Holdings, Inc. The following tables present revenues from external customers, intersegment revenues, and segment net income for the two reportable segments (thousands of dollars): Natural Gas Construction Other Total Three months ended September 30, 2017 Revenues from external customers $ 213,059 $ 351,850 $ — $ 564,909 Intersegment revenues — 28,244 — 28,244 Total $ 213,059 $ 380,094 $ — $ 593,153 Segment net income (loss) $ (4,024 ) $ 14,335 $ (107 ) $ 10,204 Three months ended September 30, 2016 Revenues from external customers $ 200,179 $ 312,531 $ — $ 512,710 Intersegment revenues — 27,259 — 27,259 Total $ 200,179 $ 339,790 $ — $ 539,969 Segment net income (loss) $ (12,405 ) $ 14,877 $ — $ 2,472 Natural Gas Construction Other Total Nine months ended September 30, 2017 Revenues from external customers $ 935,823 $ 800,073 $ — $ 1,735,896 Intersegment revenues — 72,463 — 72,463 Total $ 935,823 $ 872,536 $ — $ 1,808,359 Segment net income (loss) $ 82,436 $ 15,717 $ (777 ) $ 97,376 Nine months ended September 30, 2016 Revenues from external customers $ 980,927 $ 762,835 $ — $ 1,743,762 Intersegment revenues — 75,203 — 75,203 Total $ 980,927 $ 838,038 $ — $ 1,818,965 Segment net income $ 67,536 $ 19,325 $ — $ 86,861 Natural Gas Construction Other Total Twelve months ended September 30, 2017 Revenues from external customers $ 1,276,308 $ 1,078,195 $ — $ 2,354,503 Intersegment revenues — 95,381 — 95,381 Total $ 1,276,308 $ 1,173,576 $ — $ 2,449,884 Segment net income (loss) $ 134,323 $ 29,010 $ (777 ) $ 162,556 Twelve months ended September 30, 2016 Revenues from external customers $ 1,376,388 $ 1,022,416 $ — $ 2,398,804 Intersegment revenues — 105,566 — 105,566 Total $ 1,376,388 $ 1,127,982 $ — $ 2,504,370 Segment net income $ 119,836 $ 33,144 $ — $ 152,980 |
Derivatives and Fair Value Meas
Derivatives and Fair Value Measurements | 9 Months Ended |
Sep. 30, 2017 | |
Fair Value Disclosures [Abstract] | |
Derivatives and Fair Value Measurements | Note 4 – Derivatives and Fair Value Measurements Derivatives. fixed-for-floating The fixed-price contracts and Swaps are utilized by Southwest under its volatility mitigation programs to effectively fix the price on a portion (up to 25% in the Arizona and California jurisdictions) of its natural gas supply portfolios. The maturities of the Swaps highly correlate to forecasted purchases of natural gas, during time frames ranging from October 2017 through March 2019. Under such contracts, Southwest pays the counterparty a fixed rate and receives from the counterparty a floating rate per MMBtu (“dekatherm”) of natural gas. Only the net differential is actually paid or received. The differential is calculated based on the notional amounts under the contracts, which are detailed in the table below (thousands of dekatherms): September 30, 2017 December 31, 2016 Contract notional amounts 10,936 10,543 Southwest does not utilize derivative financial instruments for speculative purposes, nor does it have trading operations. The following table sets forth the gains and (losses) recognized on the Swaps (derivatives) for the three-, nine-, and twelve-month periods ended September 30, 2017 and 2016 and their location in the Condensed Consolidated Statements of Income for both the Company and Southwest: Gains (losses) recognized in income for derivatives not designated as hedging instruments: (Thousands of dollars) Three Months Ended Nine Months Ended Twelve Months Ended Location of Gain or (Loss) September 30 September 30 September 30 Instrument Recognized in Income on Derivative 2017 2016 2017 2016 2017 2016 Swaps Net cost of gas sold $ (546 ) $ (2,072 ) $ (6,851 ) $ 2,253 $ (4,098 ) $ (656 ) Swaps Net cost of gas sold 546 * 2,072 * 6,851 * (2,253 )* 4,098 * 656 * Total $ — $ — $ — $ — $ — $ — * Represents the impact of regulatory deferral accounting treatment under U.S. GAAP for rate-regulated entities. No gains (losses) were recognized in net income or other comprehensive income during the periods presented for derivatives designated as cash flow hedging instruments. Previously, Southwest entered into two forward-starting interest rate swaps (“FSIRS”), both of which were designated cash flow hedges, to partially hedge the risk of interest rate variability during the period leading up to the planned issuance of debt. The first FSIRS terminated in December 2010. The second FSIRS terminated in March 2012. Losses on both FSIRS are being amortized over ten-year The following table sets forth the fair values of the Swaps and their location in the Condensed Consolidated Balance Sheets for both the Company and Southwest (thousands of dollars): Fair values of derivatives not designated as hedging instruments: September 30, 2017 Instrument Balance Sheet Location Asset Liability Net Swaps Prepaids and other current assets $ 56 $ (22 ) $ 34 Swaps Other current liabilities 27 (1,899 ) (1,872 ) Swaps Other deferred credits 1 (768 ) (767 ) Total $ 84 $ (2,689 ) $ (2,605 ) December 31, 2016 Instrument Balance Sheet Location Asset Liability Net Swaps Deferred charges and other assets $ 899 $ (54 ) $ 845 Swaps Prepaids and other current assets 3,551 (19 ) 3,532 Total $ 4,450 $ (73 ) $ 4,377 The estimated fair values of the natural gas derivatives were determined using future natural gas index prices (as more fully described below). Master netting arrangements exist with each counterparty that provide for the net settlement (in the settlement month) of all contracts through a single payment. As applicable, management has elected to reflect the net amounts in its balance sheets. There was no outstanding collateral associated with the Swaps during either period shown in the above table. Pursuant to regulatory deferral accounting treatment for rate-regulated entities, unrealized gains and losses in fair value of the Swaps are recorded as a regulatory asset and/or liability. When the Swaps mature, any prior positions held are reversed and the settled position is recorded as an increase or decrease of purchased gas under the related purchased gas adjustment (“PGA”) mechanism in determining its deferred PGA balances. Neither changes in fair value, nor settled amounts, of Swaps have a direct effect on earnings or other comprehensive income. The following table shows the amounts Southwest paid to and received from counterparties for settlements of matured Swaps. Three Months Ended Nine Months Ended Twelve Months Ended (Thousands of dollars) September 30, 2017 September 30, 2017 September 30, 2017 Paid to counterparties $ 143 $ 1,555 $ 2,655 Received from counterparties $ — $ 1,685 $ 2,060 The following table details the regulatory assets/(liabilities) offsetting the derivatives at fair value in the Condensed Consolidated Balance Sheets for both the Company and Southwest (thousands of dollars). September 30, 2017 Instrument Balance Sheet Location Net Total Swaps Other current liabilities $ (34 ) Swaps Prepaids and other current assets 1,872 Swaps Deferred charges and other assets 767 December 31, 2016 Instrument Balance Sheet Location Net Total Swaps Other deferred credits $ (845 ) Swaps Other current liabilities (3,532 ) Fair Value Measurements. The following table sets forth, by level within the three-level fair value hierarchy that ranks the inputs used to measure fair value by their reliability, the financial assets and liabilities that were accounted for at fair value by both the Company and Southwest: Level 2—Significant other observable inputs (Thousands of dollars) September 30, 2017 December 31, 2016 Assets at fair value: Prepaids and other current assets—Swaps $ 34 $ 3,532 Deferred charges and other assets—Swaps — 845 Liabilities at fair value: Other current liabilities—Swaps (1,872 ) — Other deferred credits—Swaps (767 ) — Net Assets (Liabilities) $ (2,605 ) $ 4,377 No financial assets or liabilities associated with the Swaps, which were accounted for at fair value, fell within Level 1 (quoted prices in active markets for identical financial assets) or Level 3 (significant unobservable inputs) of the fair value hierarchy. With regard to the fair values of assets associated with pension and postretirement benefit plans, asset values were last updated as required as of December 2016. Refer to Note 10 – Pension and Other Post Retirement Benefits in the 2016 Annual Report to Shareholders on Form 10-K. |
Common Stock
Common Stock | 9 Months Ended |
Sep. 30, 2017 | |
Text Block [Abstract] | |
Common Stock | Note 5 – Common Stock In January 2017, the holding company reorganization was made effective and each outstanding share of Southwest Gas Corporation common stock was converted into a share of common stock in Southwest Gas Holdings, Inc., on a one-for-one On March 29, 2017, the Company filed with the Securities Exchange Commission (“SEC”) an automatic shelf registration statement on Form S-3 No. 333-217018), at-the-market rd During the nine months ended September 30, 2017, the Company issued approximately 103,000 shares of common stock through the Restricted Stock/Unit Plan and Management Incentive Plan. |
Long-Term Debt
Long-Term Debt | 9 Months Ended |
Sep. 30, 2017 | |
Debt Disclosure [Abstract] | |
Long-Term Debt | Note 6 – Long-Term Debt Carrying amounts of long-term debt and related estimated fair values as of September 30, 2017 and December 31, 2016 are disclosed in the following table. Southwest’s revolving credit facility (including commercial paper) and the variable-rate Industrial Development Revenue Bonds (“IDRBs”) approximate their carrying values, as they are repaid quickly (in the case of credit facility borrowings) and have interest rates that reset frequently. These are categorized as Level 1 due to Southwest’s ability to access similar debt arrangements at measurement dates with comparable terms, including variable/market rates. The fair values of Southwest’s debentures, senior notes, and fixed-rate IDRBs were determined utilizing a market-based valuation approach, where fair values are determined based on evaluated pricing data, such as broker quotes and yields for similar securities adjusted for observable differences. Significant inputs used in the valuation generally include benchmark yield curves, credit ratings and issuer spreads. The external credit rating, coupon rate, and maturity of each security are considered in the valuation, as applicable. The fair values of debentures and fixed-rate IDRBs are categorized as Level 2 (observable market inputs based on market prices of similar securities). The Centuri secured revolving credit and term loan facility and Centuri other debt obligations (not actively traded) are categorized as Level 3, based on significant unobservable inputs to their fair values. Because Centuri’s debt is not publicly traded, fair values for the secured revolving credit and term loan facility and other debt obligations were based on a conventional discounted cash flow methodology and utilized current market pricing yield curves, across Centuri’s debt maturity spectrum, of other industrial bonds with an assumed credit rating comparable to the Company’s. September 30, 2017 December 31, 2016 Carrying Market Carrying Market Amount Value Amount Value (Thousands of dollars) Southwest Gas Corporation: Debentures: Notes, 4.45%, due 2020 $ 125,000 $ 130,325 $ 125,000 $ 129,703 Notes, 6.1%, due 2041 125,000 154,434 125,000 149,734 Notes, 3.875%, due 2022 250,000 258,943 250,000 254,900 Notes, 4.875%, due 2043 250,000 275,168 250,000 266,793 Notes, 3.8%, due 2046 300,000 292,578 300,000 283,029 8% Series, due 2026 75,000 97,218 75,000 94,691 Medium-term notes, 7.59% series, due 2017 — — 25,000 25,040 Medium-term notes, 7.78% series, due 2022 25,000 29,174 25,000 29,290 Medium-term notes, 7.92% series, due 2027 25,000 31,964 25,000 31,905 Medium-term notes, 6.76% series, due 2027 7,500 8,920 7,500 8,769 Unamortized discount and debt issuance costs (9,498 ) (9,931 ) 1,173,002 1,197,569 Revolving credit facility and commercial paper 150,000 150,000 5,000 5,000 Industrial development revenue bonds: Variable-rate bonds: Tax-exempt 50,000 50,000 50,000 50,000 2003 Series A, due 2038 50,000 50,000 50,000 50,000 2008 Series A, due 2038 50,000 50,000 50,000 50,000 2009 Series A, due 2039 50,000 50,000 50,000 50,000 Unamortized discount and debt issuance costs (2,212 ) (2,489 ) 197,788 197,511 Less: current maturities — (25,000 ) Long-term debt, less current maturities - Southwest Gas Corporation $ 1,520,790 $ 1,375,080 Centuri: Centuri term loan facility $ 107,250 107,403 $ 106,700 106,819 Unamortized debt issuance costs (383 ) (516 ) 106,867 106,184 Centuri secured revolving credit facility 81,250 81,402 41,185 41,292 Centuri other debt obligations 51,527 51,978 52,635 52,840 Less: current maturities (28,453 ) (25,101 ) Long-term debt, less current maturities - Centuri $ 211,191 $ 174,903 Consolidated Southwest Gas Holdings, Inc.: Southwest Gas Corporation long-term debt $ 1,520,790 $ 1,400,080 Centuri long-term debt 239,644 200,004 Less: current maturities (28,453 ) (50,101 ) Long-term debt, less current maturities - Southwest Gas Holdings, Inc. $ 1,731,981 $ 1,549,983 In March 2017, Southwest amended its credit facility, increasing the borrowing capacity from $300 million to $400 million. Also, the facility was previously scheduled to expire in March 2021 and was extended to March 2022. Southwest continues to designate $150 million of capacity related to the facility as long-term debt and with the total capacity now available, has designated the remaining $250 million for working capital purposes. Interest rates for the credit facility are calculated at either the London Interbank Offered Rate (“LIBOR”) or an “alternate base rate,” plus in each case an applicable margin that is determined based on the Southwest’s senior unsecured debt rating. At September 30, 2017, the applicable margin is 1% for loans bearing interest with reference to LIBOR and 0% for loans bearing interest with reference to the alternative base rate. At September 30, 2017, $150 million was outstanding on the long-term portion and $83 million was outstanding on the short-term portion of this credit facility (See Note 7 – Short-Term Debt At September 30, 2017, Centuri has a $300 million secured revolving credit and term loan facility that is scheduled to expire in October 2019. This facility includes a revolving credit facility and a term loan facility. The term loan facility portion had an initial limit of approximately $150 million, which was reached in 2014 and had $107 million outstanding (after repayments) at September 30, 2017. The $300 million revolving credit and term loan facility is secured by substantially all of Centuri’s assets except those explicitly excluded under the terms of the agreement (including owned real estate and certain certificated vehicles). Centuri assets securing the facility at September 30, 2017 totaled $526 million. At September 30, 2017, $189 million in borrowings were outstanding under the Centuri facility. |
Short-Term Debt
Short-Term Debt | 9 Months Ended |
Sep. 30, 2017 | |
Debt Disclosure [Abstract] | |
Short-Term Debt | Note 7 – Short-Term Debt In March 2017, Southwest Gas Holdings, Inc. entered into a credit facility with a borrowing capacity of $100 million that expires in March 2022. The Company intends to utilize this facility for short-term financing needs. Interest rates for this facility are calculated at either the LIBOR or the “alternate base rate,” plus in each case an applicable margin that is determined based on the Company’s senior unsecured debt rating. The applicable margin ranges from 0.75% to 1.50% for loans bearing interest with reference to LIBOR and from 0% to 0.5% for loans bearing interest with reference to the alternative base rate. The Company is also required to pay a commitment fee on the unfunded portion of the commitments based on its senior unsecured long-term debt rating. The commitment fee ranges from 0.075% to 0.200% per annum. At September 30, 2017, $27.5 million was outstanding under this facility. As discussed in Note 6 – Long-Term Debt |
Equity, Other Comprehensive Inc
Equity, Other Comprehensive Income, and Accumulated Other Comprehensive Income | 9 Months Ended |
Sep. 30, 2017 | |
Equity [Abstract] | |
Equity, Other Comprehensive Income, and Accumulated Other Comprehensive Income | Note 8 – Equity, Other Comprehensive Income, and Accumulated Other Comprehensive Income The table below provides details of activity in equity and the redeemable noncontrolling interest for Southwest Gas Holdings, Inc. on a consolidated basis during the nine months ended September 30, 2017. Southwest Gas Holdings, Inc. Equity Accumulated Redeemable Additional Other Non- Noncontrolling Common Stock Paid-in Comprehensive Retained controlling Interest (In thousands, except per share amounts) Shares Amount Capital Income (Loss) Earnings Interest Total (Temporary DECEMBER 31, 2016 47,482 $ 49,112 $ 903,123 $ (48,008 ) $ 759,263 $ (2,217 ) $ 1,661,273 $ 22,590 Common stock issuances 250 250 21,090 21,340 Net income (loss) 97,376 (78 ) 97,298 248 Redemption value adjustments (355 ) (355 ) 355 Foreign currency exchange translation adj. 1,850 1,850 11 Redemption of Centuri shares from noncontrolling parties (23,000 ) Other comprehensive income (loss): Net actuarial gain (loss) arising during period, less amortization of unamortized benefit plan cost, net of tax 1,786 1,786 Amounts reclassified to net income, net of tax (FSIRS) 1,554 1,554 Centuri dividend to redeemable noncontrolling interest (204 ) Dividends declared Common: $1.485 per share (71,350 ) (71,350 ) SEPTEMBER 30, 2017 47,732 $ 49,362 $ 924,213 $ (42,818 ) $ 784,934 $ (2,295 ) $ 1,713,396 $ — The table below provides details of activity in equity for Southwest Gas Corporation during the nine months ended September 30, 2017. Effective in January 2017, Southwest became a subsidiary of Southwest Gas Holdings, Inc., and only equity shares of the latter are publicly traded, under the ticker symbol “SWX.” Southwest Gas Corporation Equity Accumulated Additional Other Common Stock Paid-in Comprehensive Retained (In thousands, except per share amounts) Shares Amount Capital Income (Loss) Earnings Total DECEMBER 31, 2016 47,482 $ 49,112 $ 897,346 $ (45,639 ) $ 767,061 $ 1,667,880 Net income 82,436 82,436 Other comprehensive income (loss): Net actuarial gain (loss) arising during period, less amortization of unamortized benefit plan cost, net of tax 1,786 1,786 Amounts reclassified to net income, net of tax (FSIRS) 1,554 1,554 Distribution to Southwest Gas Holdings, Inc. investment in discontinued operations (182,773 ) (182,773 ) Stock-based compensation (a) 8,576 (587 ) 7,989 Dividends declared to Southwest Gas Holdings, Inc. (60,130 ) (60,130 ) Contributions from Southwest Gas Holdings, Inc. 11,659 11,659 SEPTEMBER 30, 2017 47,482 $ 49,112 $ 917,581 $ (42,299 ) $ 606,007 $ 1,530,401 (a) Stock-based compensation is based on stock awards of Southwest Gas Corporation to be issued in shares of Southwest Gas Holdings, Inc. The table above gives effect to the holding company reorganization whereby Southwest and Centuri became subsidiaries of the Company. The historic investment in Centuri was distributed to the parent holding company. This presentation is only applicable to Southwest and not to the Company overall, as Centuri continues to be included in the continuing operations of the Company. Also in connection with the holding company creation, compensation plans of Southwest include programs that will be settled with equity shares issued by Southwest Gas Holdings, Inc. Management has determined that when no consideration is directly exchanged for these programs between Southwest and the Company, the accounting impact at Southwest for these programs is reflected both as compensation expense and as an equity contribution (of the parent) in Southwest. The following information provides insight into amounts impacting the Company’s Other Comprehensive Income (Loss), both before and after tax impacts, within the Condensed Consolidated Statements of Comprehensive Income, which also impact Accumulated Other Comprehensive Income in the Condensed Consolidated Balance Sheets and the associated column in the equity table above, as well as the Redeemable Noncontrolling Interest. See Note 4 – Derivatives and Fair Value Measurements Related Tax Effects Allocated to Each Component of Other Comprehensive Income (Loss) (Thousands of dollars) Three Months Ended September 30, 2017 Three Months Ended September 30, 2016 Before- Tax Net-of- Before- Tax Net-of- Tax (Expense) Tax Tax (Expense) Tax Amount or Benefit (1) Amount Amount or Benefit (1) Amount Defined benefit pension plans: Amortization of prior service cost $ 333 $ (126 ) $ 207 $ 333 $ (126 ) $ 207 Amortization of net actuarial (gain)/loss 6,362 (2,418 ) 3,944 6,767 (2,571 ) 4,196 Regulatory adjustment (5,734 ) 2,179 (3,555 ) (6,122 ) 2,326 (3,796 ) Pension plans other comprehensive income (loss) 961 (365 ) 596 978 (371 ) 607 FSIRS (designated hedging activities): Amounts reclassifed into net income 835 (317 ) 518 835 (317 ) 518 FSIRS other comprehensive income 835 (317 ) 518 835 (317 ) 518 Total other comprehensive income (loss) - Southwest Gas Corporation 1,796 (682 ) 1,114 1,813 (688 ) 1,125 Foreign currency translation adjustments: Translation adjustments 1,012 — 1,012 (238 ) — (238 ) Foreign currency other comprehensive income (loss) 1,012 — 1,012 (238 ) — (238 ) Total other comprehensive income (loss) - Southwest Gas Holdings, Inc. $ 2,808 $ (682 ) $ 2,126 $ 1,575 $ (688 ) $ 887 Nine Months Ended September 30, 2017 Nine Months Ended September 30, 2017 Before- Tax Net-of- Before- Tax Net-of- Tax (Expense) Tax Tax (Expense) Tax Amount or Benefit (1) Amount Amount or Benefit (1) Amount Defined benefit pension plans: Amortization of prior service cost $ 1,001 $ (380 ) $ 621 $ 1,001 $ (380 ) $ 621 Amortization of net actuarial (gain)/loss 19,084 (7,252 ) 11,832 20,300 (7,714 ) 12,586 Regulatory adjustment (17,204 ) 6,537 (10,667 ) (18,368 ) 6,980 (11,388 ) Pension plans other comprehensive income (loss) 2,881 (1,095 ) 1,786 2,933 (1,114 ) 1,819 FSIRS (designated hedging activities): Amounts reclassifed into net income 2,507 (953 ) 1,554 2,508 (952 ) 1,556 FSIRS other comprehensive income 2,507 (953 ) 1,554 2,508 (952 ) 1,556 Total other comprehensive income (loss)—Southwest Gas Corporation 5,388 (2,048 ) 3,340 5,441 (2,066 ) 3,375 Foreign currency translation adjustments: Translation adjustments 1,861 — 1,861 614 — 614 Foreign currency other comprehensive income (loss) 1,861 — 1,861 614 — 614 Total other comprehensive income (loss) $ 7,249 $ (2,048 ) $ 5,201 $ 6,055 $ (2,066 ) $ 3,989 Twelve Months Ended September 30, 2017 Twelve Months Ended September 30, 2016 Before- Tax Net-of- Before- Tax Net-of- Tax (Expense) Tax Tax (Expense) Tax Amount or Benefit (1) Amount Amount or Benefit (1) Amount Defined benefit pension plans: Net actuarial gain/(loss) $ (22,770 ) $ 8,652 $ (14,118 ) $ (30,519 ) $ 11,597 $ (18,922 ) Amortization of prior service cost 1,335 (507 ) 828 1,335 (507 ) 828 Amortization of net actuarial (gain)/loss 25,850 (9,823 ) 16,027 28,895 (10,980 ) 17,915 Regulatory adjustment (4,420 ) 1,679 (2,741 ) (653 ) 249 (404 ) Pension plans other comprehensive income (loss) (5 ) 1 (4 ) (942 ) 359 (583 ) FSIRS (designated hedging activities): Amounts reclassifed into net income 3,344 (1,271 ) 2,073 3,344 (1,271 ) 2,073 FSIRS other comprehensive income (loss) 3,344 (1,271 ) 2,073 3,344 (1,271 ) 2,073 Total other comprehensive income (loss)—Southwest Gas Corporation 3,339 (1,270 ) 2,069 2,402 (912 ) 1,490 Foreign currency translation adjustments: Translation adjustments 1,408 — 1,408 233 — 233 Foreign currency other comprehensive income (loss) 1,408 — 1,408 233 — 233 Total other comprehensive income (loss)—Southwest Gas Holdings, Inc. $ 4,747 $ (1,270 ) $ 3,477 $ 2,635 $ (912 ) $ 1,723 (1) Tax amounts are calculated using a 38% rate. The Company has elected to indefinitely reinvest the earnings of Centuri’s Canadian subsidiaries in Canada, thus preventing deferred taxes on such earnings. As a result of this assertion, the Company is not recognizing any tax effect or presenting a tax expense or benefit for the currency translation adjustment amount reported in Other Comprehensive Income, as repatriation of earnings is not anticipated. Approximately $2.1 million of realized losses (net of tax) related to the FSIRS, reported in Accumulated other comprehensive income (“AOCI”) at September 30, 2017, will be reclassified into interest expense within the next 12 months as the related interest payments on long-term debt occur. The following table represents a rollforward of AOCI, presented on the Company’s Condensed Consolidated Balance Sheets: AOCI—Rollforward (Thousands of dollars) Defined Benefit Plans FSIRS Foreign Currency Items Before-Tax Tax After-Tax Before-Tax Tax After-Tax Before-Tax Tax After-Tax AOCI Beginning Balance AOCI December 31, 2016 $ (57,613 ) $ 21,893 $ (35,720 ) $ (15,999 ) $ 6,080 $ (9,919 ) $ (2,369 ) $ — $ (2,369 ) $ (48,008 ) Translation adjustments — — — — — — 1,861 — 1,861 1,861 Other comprehensive income before reclassifications — — — — — — 1,861 — 1,861 1,861 FSIRS amounts reclassified from AOCI (1) — — — 2,507 (953 ) 1,554 — — — 1,554 Amortization of prior service cost (2) 1,001 (380 ) 621 — — — — — — 621 Amortization of net actuarial loss (2) 19,084 (7,252 ) 11,832 — — — — — — 11,832 Regulatory adjustment (3) (17,204 ) 6,537 (10,667 ) — — — — — — (10,667 ) Net current period other comprehensive income (loss) 2,881 (1,095 ) 1,786 2,507 (953 ) 1,554 1,861 — 1,861 5,201 Less: Translation adjustment attributable to redeemable noncontrolling interest — — — — — — 11 — 11 11 Net current period other comprehensive income (loss) attributable to Southwest Gas Holdings, Inc. 2,881 (1,095 ) 1,786 2,507 (953 ) 1,554 1,850 — 1,850 5,190 Ending Balance AOCI September 30, 2017 $ (54,732 ) $ 20,798 $ (33,934 ) $ (13,492 ) $ 5,127 $ (8,365 ) $ (519 ) $ — $ (519 ) $ (42,818 ) (1) The FSIRS reclassification amounts are included in the Net interest deductions line item on the Company’s Condensed Consolidated Statements of Income. (2) These AOCI components are included in the computation of net periodic benefit cost (see Note 2 – Components of Net Periodic Benefit Cost (3) The regulatory adjustment represents the portion of the activity above that is expected to be recovered through rates in the future (the related regulatory asset is included in the Deferred charges and other assets line item on the Company’s Condensed Consolidated Balance Sheets). (4) Tax amounts are calculated using a 38% rate. The following table represents a rollforward of AOCI, presented on Southwest’s Condensed Consolidated Balance Sheets: AOCI—Rollforward (Thousands of dollars) Defined Benefit Plans FSIRS Before-Tax Tax After-Tax Before-Tax Tax After-Tax AOCI Beginning Balance AOCI December 31, 2016 $ (57,613 ) $ 21,893 $ (35,720 ) $ (15,999 ) $ 6,080 $ (9,919 ) $ (45,639 ) FSIRS amounts reclassified from AOCI (5) — — — 2,507 (953 ) 1,554 1,554 Amortization of prior service cost (6) 1,001 (380 ) 621 — — — 621 Amortization of net actuarial loss (6) 19,084 (7,252 ) 11,832 — — — 11,832 Regulatory adjustment (7) (17,204 ) 6,537 (10,667 ) — — — (10,667 ) Net current period other comprehensive income (loss) attributable to Southwest Gas Corporation 2,881 (1,095 ) 1,786 2,507 (953 ) 1,554 3,340 Ending Balance AOCI September 30, 2017 $ (54,732 ) $ 20,798 $ (33,934 ) $ (13,492 ) $ 5,127 $ (8,365 ) $ (42,299 ) (5) The FSIRS reclassification amounts are included in the Net interest deductions line item on Southwest’s Condensed Consolidated Statements of Income. (6) These AOCI components are included in the computation of net periodic benefit cost (see Note 2 – Components of Net Periodic Benefit Cost (7) The regulatory adjustment represents the portion of the activity above that is expected to be recovered through rates in the future (the related regulatory asset is included in the Deferred charges and other assets line item on Southwest’s Condensed Consolidated Balance Sheets). (8) Tax amounts are calculated using a 38% rate. The following table represents amounts (before income tax impacts) included in AOCI (in the tables above), that have not yet been recognized in net periodic benefit cost: Amounts Recognized in AOCI (Before Tax) (Thousands of dollars) September 30, 2017 December 31, 2016 Net actuarial (loss) gain $ (411,889 ) $ (430,973 ) Prior service cost (4,702 ) (5,703 ) Less: amount recognized in regulatory assets 361,859 379,063 Recognized in AOCI $ (54,732 ) $ (57,613 ) |
Construction Services Redeemabl
Construction Services Redeemable Noncontrolling Interest | 9 Months Ended |
Sep. 30, 2017 | |
Noncontrolling Interest [Abstract] | |
Construction Services Redeemable Noncontrolling Interest | Note 9 – Construction Services Redeemable Noncontrolling Interest In conjunction with the acquisition of the Canadian construction businesses in October 2014, the previous owners of the acquired companies retained a 3.4% equity interest in Centuri, which, subject to an eligibility timeline, would have been redeemable at the election of the noncontrolling parties (in its entirety) beginning in July 2022. In August 2017, in advance of when otherwise eligible, the parties agreed to a current redemption. Southwest Gas Holdings, Inc. paid $23 million to the previous owners, thereby acquiring the remaining 3.4% equity interest in Centuri in accordance with an early redemption agreement. Accordingly, Centuri is now a wholly owned subsidiary of the Company. The following depicts changes to the balance of the redeemable noncontrolling interest between the indicated periods. Redeemable (Thousands of dollars): Balance, December 31, 2016 $ 22,590 Net income attributable to redeemable noncontrolling interest 248 Foreign currency exchange translation adjustment 11 Centuri dividend to redeemable noncontrolling interest (204 ) Adjustment to redemption value 355 Redemption of Centuri shares from noncontrolling parties (23,000 ) Balance, September 30, 2017 $ — |
Reorganization Impacts - Discon
Reorganization Impacts - Discontinued Operations Solely Related to Southwest Gas Corporation | 9 Months Ended |
Sep. 30, 2017 | |
Restructuring and Related Activities [Abstract] | |
Reorganization Impacts - Discontinued Operations Solely Related to Southwest Gas Corporation | Note 10 – Reorganization Impacts – Discontinued Operations Solely Related to Southwest Gas Corporation No substantive change has occurred with regard to the Company’s business segments on the whole, or in the primary businesses comprising those segments (Centuri operations continue to be part of continuing operations of the controlled group of companies), and financial information related to Centuri continues to be included in condensed consolidated financial statements of Southwest Gas Holdings, Inc. However, as part of the holding company reorganization effective January 2017, Centuri is no longer a subsidiary of Southwest; whereas historically, Centuri had been a direct subsidiary of Southwest. To give effect to this change, the condensed consolidated financial statements related to Southwest Gas Corporation, which are separately included in this Form 10-Q, Due to the discontinued operations accounting reflection, the following disclosures provide additional information regarding the assets, liabilities, equity, revenues, and expenses of Centuri which are shown as discontinued operations on the condensed consolidated financial statements of Southwest Gas Corporation for periods prior to the beginning of 2017. The following table presents the major categories of assets and liabilities within the amounts reported as discontinued operations – construction services in the Condensed Consolidated Balance Sheet of Southwest Gas Corporation: (Thousands of dollars) December 31, 2016 Assets: Other property and investments $ 233,774 Cash and cash equivalents 9,042 Accounts receivable, net of allowances 173,300 Prepaids and other current assets 10,470 Goodwill 129,888 Other noncurrent assets 22,897 Discontinued operations - construction services - assets $ 579,371 Liabilities: Current maturities of long-term debt $ 25,101 Accounts payable 46,440 Other current liabilities 74,518 Long-term debt, less current maturities 174,903 Deferred income taxes and other deferred credits 59,653 Discontinued operations—construction services—liabilities $ 380,615 The following table presents the components of the Discontinued operations – construction services non-owner (Thousands of dollars) December 31, 2016 Construction services equity $ (4,390 ) Construction services noncontrolling interest (2,217 ) Construction services redeemable noncontrolling interest 22,590 Discontinued operations - construction services non-owner $ 15,983 The following table presents the major income statement components of discontinued operations – construction services reported in the Condensed Consolidated Income Statements of Southwest Gas Corporation: Results of Construction Services Three Nine Twelve Twelve Months Ended Months Ended Months Ended Months Ended (Thousands of dollars) September 30, 2016 September 30, 2016 September 30, 2017 September 30, 2016 Construction revenues $ 339,790 $ 838,038 $ 301,040 $ 1,127,982 Operating expenses: Construction expenses 300,611 757,919 266,504 1,009,188 Depreciation and amortization 13,409 43,351 12,318 58,368 Operating income 25,770 36,768 22,218 60,426 Other income (deductions) 44 44 1,149 1,246 Net interest deductions 1,794 4,945 1,718 6,738 Income before income taxes 24,020 31,867 21,649 54,934 Income tax expense 8,708 12,042 7,842 20,711 Net income 15,312 19,825 13,807 34,223 Net income attributable to noncontrolling interests 435 500 514 1,079 Discontinued operations - construction services - net income $ 14,877 $ 19,325 $ 13,293 $ 33,144 |
Nature of Operations and Basi17
Nature of Operations and Basis of Presentation (Policies) | 9 Months Ended |
Sep. 30, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Nature of Operations | Nature of Operations. Note 9 – Construction Services Redeemable Noncontrolling Interest In January 2017, a previously contemplated and approved reorganization under a holding company structure was made effective. The reorganization was designed to provide further separation between regulated and unregulated businesses, and to provide additional financing flexibility. Coincident with the effective date of the reorganization, existing shareholders of Southwest Gas Corporation became shareholders of Southwest Gas Holdings, Inc., on a one-for-one Southwest Gas Corporation (“Southwest” or the “natural gas operations segment”) is engaged in the business of purchasing, distributing, and transporting natural gas for customers in portions of Arizona, Nevada, and California. Public utility rates, practices, facilities, and service territories of Southwest are subject to regulatory oversight. The timing and amount of rate relief can materially impact results of operations. Natural gas purchases and the timing of related recoveries can materially impact liquidity. Results for the natural gas operations segment are higher during winter periods due to the seasonality incorporated in its regulatory rate structures. Centuri is a comprehensive construction services enterprise dedicated to meeting the growing demands of North American utilities, energy and industrial markets. Centuri derives revenue from installation, replacement, repair, and maintenance of energy distribution systems, and developing industrial construction solutions. Centuri operations are generally conducted under the business names of NPL Construction Co. (“NPL”), NPL Canada Ltd. (“NPL Canada”, formerly Link-Line Contractors Ltd.), W.S. Nicholls Construction, Inc. (“W.S. Nicholls”), and Brigadier Pipelines Inc. (“Brigadier”). Typically, Centuri revenues are lowest during the first quarter of the year due to unfavorable winter weather conditions. Operating revenues typically improve as more favorable weather conditions occur during the summer and fall months. |
Basis of Presentation | Basis of Presentation. Form 10-Q, Note 10 – Reorganization Impacts – Discontinued Operations Solely Related to Southwest Gas Corporation non-current No substantive change has occurred with regard to the Company’s business segments on the whole, or in the primary businesses comprising those segments as a result of the foregoing organizational changes. Centuri operations continue to be part of continuing operations and included in the consolidated financial statements of Southwest Gas Holdings, Inc. The preparation of the condensed consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. In the opinion of management, all adjustments, consisting of normal recurring items and estimates necessary for a fair statement of results for the interim periods, have been made. It is suggested that these condensed consolidated financial statements be read in conjunction with the consolidated financial statements and the notes thereto included in the 2016 Annual Report to Shareholders, which is incorporated by reference into the 2016 Form 10-K. |
Prepaids and Other Current Assets | Prepaids and other current assets. |
Cash and Cash Equivalents | Cash and Cash Equivalents. Significant non-cash non-cash |
Adoption of Accounting Standards Update | Adoption of Accounting Standards Update (“ASU”) No. 2016-09. No. 2016-09 Under the new guidance, the Company can withhold any amount between the minimum and maximum individual statutory tax rates and still treat the entire award as equity. The Company intends to administer withholding such that awards under stock compensation programs will continue to be treated as equity awards. In addition to the above, the update requires all income tax-related Amendments related to the timing of when excess tax benefits are recognized, minimum statutory withholding requirements, forfeitures, and intrinsic value are required to be applied using a modified retrospective transition method by means of a cumulative-effect adjustment to equity as of the beginning of the period in which the guidance is adopted. The Company had no previously unrecognized tax benefits as a result of these changes; therefore, no cumulative effect adjustment to the Company’s opening retained earnings was required. |
Goodwill | Goodwill. (In thousands of dollars) Natural Gas Construction Consolidated December 31, 2016 $ 10,095 $ 129,888 $ 139,983 Foreign currency translation adjustment — 7,882 7,882 September 30, 2017 $ 10,095 $ 137,770 $ 147,865 |
Intercompany Transactions | Intercompany Transactions Note 3— Segment Information September 30, 2017 December 31, 2016 Centuri accounts receivable for services provided to Southwest $ 11,486 $ 10,585 The accounts receivable balance, revenues, and associated profits are included in the condensed consolidated financial statements of the Company and were not eliminated during consolidation in accordance with accounting treatment for rate-regulated entities. |
Other Property and Investments | Other Property and Investments. September 30, 2017 December 31, 2016 Centuri property and equipment $ 493,599 $ 451,114 Centuri accumulated provision for depreciation and amortization (251,831 ) (228,374 ) Net cash surrender value of COLI policies 114,052 106,744 Other property 13,483 12,859 Total $ 369,303 $ 342,343 |
Other Income (Deductions) | Other Income (Deductions). Three Months Ended Nine Months Ended Twelve Months Ended September 30 September 30 September 30 2017 2016 2017 2016 2017 2016 Southwest Gas Corporation—natural gas operations segment: Change in COLI policies $ 2,100 $ 2,300 $ 6,800 $ 5,400 $ 8,800 $ 7,500 Interest income 670 522 1,848 1,279 2,417 1,664 Equity AFUDC 968 611 2,077 1,893 2,473 2,890 Miscellaneous income and (expense) (657 ) (912 ) (1,981 ) (1,860 ) (3,382 ) (2,439 ) Southwest Gas Corporation—total other income (deductions) 3,081 2,521 8,744 6,712 10,308 9,615 Construction services segment: Interest income 1 — 2 1 2 414 Foreign transaction gain (loss) (442 ) (3 ) (640 ) (22 ) (640 ) 28 Miscellaneous income and (expense) 231 47 676 65 1,825 804 Centuri—total other income (deductions) (210 ) 44 38 44 1,187 1,246 Corporate and administrative 5 — 6 — 6 — Consolidated Southwest Gas Holdings, Inc.—total other income (deductions) $ 2,876 $ 2,565 $ 8,788 $ 6,756 $ 11,501 $ 10,861 Included in the table above is the change in cash surrender values of company-owned life insurance (“COLI”) policies (including net death benefits recognized). These life insurance policies on members of management and other key employees are used by Southwest to indemnify itself against the loss of talent, expertise, and knowledge, as well as to provide indirect funding for certain nonqualified benefit plans. Current tax regulations provide for tax-free |
Recently Issued Accounting Standards Updates | Recently Issued Accounting Standards Updates. one-year Deliberations have been ongoing by the utility industry, notably in connection with efforts to produce an accounting guide intended to be developed by the American Institute of Certified Public Accountants (“AICPA”). In association with this undertaking, the AICPA formed a number of industry task forces, including a Power & Utilities (“P&U”) Task Force, on which Company personnel actively participate via formal membership. Industry representatives and organizations, the largest auditing firms, the AICPA’s Revenue Recognition Working Group and its Financial Reporting Executive Committee have undertaken, and continue to undertake, consideration of several items relevant to the utility industry. Where applicable or necessary, the FASB’s Transition Resource Group (“TRG”) has also participated. Through the P&U Task Force undertakings, general determinations were made that contributions received in aid of construction (“CIAC”) efforts related to the industry’s pipe distribution and transmission systems are reimbursements of expenditures rather than revenue (consistent with current accounting practices). Furthermore, regarding the “collectibility” criterion in the update that must be met for revenue recognition, general determinations have been made that contracts for utility service (including service to lower income or lower credit quality customers) represent genuine and valid contracts for which revenue is able to be recognized when service is rendered (consistent with current accounting practices). These determinations by the P&U industry are based on the various measures the industry takes to help ensure collectibility (e.g., proof of creditworthiness, customer deposits, late fee assessment, disconnection, service re-establishment With regard to the construction services segment, the principles of the new revenue recognition guidance are very similar to existing guidance for construction contractors. Similar to the P&U Task Force noted above, the AICPA formed the Engineering and Construction Contractors Task Force to assist the construction industry with implementing the new guidance. The accounting guide the AICPA intends to release is expected to provide implementation guidance related to several issues including 1) combining contracts and separating performance obligations; 2) estimating change orders, incentives, penalties, liquidated damages and other variable consideration items and 3) acceptable measures of progress when recognizing revenue over time. Management of both segments of the Company has substantially completed assessments of sources of revenue and the effects that adoption of the new guidance will have on the Company’s (and Southwest’s in the case of utility operations) financial position, results of operations, and cash flows. Based on assessments completed to date, management believes that such impacts will not be material overall. Presentation and disclosure requirements of the new guidance will have the most impact on the Company’s financial statements and note disclosures. The Company is currently planning to adopt the new guidance in 2018 under the modified retrospective transition method, as permissible. In January 2016, the FASB issued the update “Financial Instruments – Overall (Subtopic 825-10): In February 2016, the FASB issued the update “Leases (Topic 842).” Under the update, lessees will be required to recognize the following for all leases (with the exception of short-term leases) at the commencement date: • A lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis; and • A right-of-use Under the new guidance, lessor accounting is largely unchanged. Certain targeted improvements were made to align, where necessary, lessor accounting with the lessee accounting model and Topic 606, Revenue from Contracts with Customers. Though companies have historically been required to make disclosures regarding leases and of associated contractual obligations, leases (with terms longer than a year) will no longer exist off-balance In June 2016, the FASB issued the update “Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.” The update amends guidance on reporting credit losses for financial assets held at amortized cost basis and available for sale debt securities. For assets held at amortized cost basis, the update eliminates the “probable” threshold for initial recognition of credit losses in current U.S. GAAP and, instead, requires an entity to reflect its current estimate of all expected credit losses. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of the financial asset to present the net amount expected to be collected. For available for sale debt securities, credit losses should be measured in a manner similar to current U.S. GAAP, however the update will require that credit losses be presented as an allowance rather than as a write-down. This update affects entities holding financial assets and net investment in leases that are not accounted for at fair value through net income. The update affects loans, debt securities, trade receivables, net investments in leases, off-balance In August 2016, the FASB issued the update “Classification of Certain Cash Receipts and Cash Payments.” This update addresses the following specific cash flow issues: debt prepayment or debt extinguishment costs; settlement of zero-coupon In October 2016, the FASB issued the update “Accounting for Income Taxes: Intra-Entity Asset Transfers of Assets Other than Inventory.” This update eliminates the current U.S. GAAP exception for all intra-entity sales of assets other than inventory. As a result, a reporting entity would recognize the tax expense from the sale of the asset in the seller’s tax jurisdiction when the transfer occurs, even though the pre-tax In January 2017, the FASB issued the update “Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment.” The update eliminates Step 2 from the goodwill impairment test. The annual, or interim, goodwill impairment test is performed by comparing the fair value of a reporting unit with its carrying amount. An impairment charge should be recognized for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. In addition, income tax effects from any tax-deductible In March 2017, the FASB issued the update “Compensation – Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost.” The update applies to all employers that offer employee benefits under defined benefit pension plans, other postretirement benefit plans, or other types of benefits accounted for under Topic 715, Compensation – Retirement Benefits. The update requires that an employer report the service cost component in the same line item or items as other compensation costs arising from services rendered by the employees during the period. The other components of net benefit cost are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations, and be appropriately described. The update also allows only the service cost component (and not the other components of periodic benefit costs) to be eligible for capitalization when applicable, making no exception for specialized industries, including rate-regulated Southwest is a rate-regulated utility offering pension and postretirement benefits to retired employees. It is anticipated that Southwest would continue to request recovery of the total costs of defined benefit plans in rate applications filed with its various regulatory bodies. Rate-regulated entities providing utility and transmission services have historically capitalized a portion of periodic benefit costs (including non-service non-service non-service non-service |
Nature of Operations and Basi18
Nature of Operations and Basis of Presentation (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Schedule of Goodwill | (In thousands of dollars) Natural Gas Construction Consolidated December 31, 2016 $ 10,095 $ 129,888 $ 139,983 Foreign currency translation adjustment — 7,882 7,882 September 30, 2017 $ 10,095 $ 137,770 $ 147,865 |
Accounts Receivable for Services | Centuri’s accounts receivable for these services are presented in the table below (thousands of dollars): September 30, 2017 December 31, 2016 Centuri accounts receivable for services provided to Southwest $ 11,486 $ 10,585 |
Schedule of Other Property and Investments | Other property and investments on the Southwest Gas Holdings, Inc. Condensed Consolidated Balance Sheets includes (thousands of dollars): September 30, 2017 December 31, 2016 Centuri property and equipment $ 493,599 $ 451,114 Centuri accumulated provision for depreciation and amortization (251,831 ) (228,374 ) Net cash surrender value of COLI policies 114,052 106,744 Other property 13,483 12,859 Total $ 369,303 $ 342,343 |
Other Income (Deductions) | The following table provides the composition of significant items included in Other income (deductions) in the condensed consolidated statements of income (thousands of dollars): Three Months Ended Nine Months Ended Twelve Months Ended September 30 September 30 September 30 2017 2016 2017 2016 2017 2016 Southwest Gas Corporation—natural gas operations segment: Change in COLI policies $ 2,100 $ 2,300 $ 6,800 $ 5,400 $ 8,800 $ 7,500 Interest income 670 522 1,848 1,279 2,417 1,664 Equity AFUDC 968 611 2,077 1,893 2,473 2,890 Miscellaneous income and (expense) (657 ) (912 ) (1,981 ) (1,860 ) (3,382 ) (2,439 ) Southwest Gas Corporation—total other income (deductions) 3,081 2,521 8,744 6,712 10,308 9,615 Construction services segment: Interest income 1 — 2 1 2 414 Foreign transaction gain (loss) (442 ) (3 ) (640 ) (22 ) (640 ) 28 Miscellaneous income and (expense) 231 47 676 65 1,825 804 Centuri—total other income (deductions) (210 ) 44 38 44 1,187 1,246 Corporate and administrative 5 — 6 — 6 — Consolidated Southwest Gas Holdings, Inc.—total other income (deductions) $ 2,876 $ 2,565 $ 8,788 $ 6,756 $ 11,501 $ 10,861 |
Components of Net Periodic Be19
Components of Net Periodic Benefit Cost (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Text Block [Abstract] | |
Schedule of Net Periodic Benefit Costs | Net periodic benefit costs included in the table below are components of an overhead loading process associated with the cost of labor. The overhead process ultimately results in allocation of net periodic benefit costs to the same accounts to which productive labor is charged. As a result, net periodic benefit costs become components of various accounts, primarily operations and maintenance expense, net utility plant, and deferred charges and other assets for both the Company and Southwest. Qualified Retirement Plan Period Ended September 30, Three Months Nine Months Twelve Months 2017 2016 2017 2016 2017 2016 (Thousands of dollars) Service cost $ 5,848 $ 5,708 $ 17,544 $ 17,125 $ 23,252 $ 23,406 Interest cost 11,520 11,507 34,561 34,520 46,068 45,577 Expected return on plan assets (13,799 ) (14,140 ) (41,397 ) (42,419 ) (55,536 ) (56,871 ) Amortization of net actuarial loss 6,001 6,317 18,003 18,950 24,319 27,136 Net periodic benefit cost $ 9,570 $ 9,392 $ 28,711 $ 28,176 $ 38,103 $ 39,248 SERP Period Ended September 30, Three Months Nine Months Twelve Months 2017 2016 2017 2016 2017 2016 (Thousands of dollars) Service cost $ 77 $ 83 $ 232 $ 248 $ 315 $ 328 Interest cost 471 464 1,413 1,394 1,878 1,818 Amortization of net actuarial loss 361 346 1,081 1,038 1,426 1,361 Net periodic benefit cost $ 909 $ 893 $ 2,726 $ 2,680 $ 3,619 $ 3,507 PBOP Period Ended September 30, Three Months Nine Months Twelve Months 2017 2016 2017 2016 2017 2016 (Thousands of dollars) Service cost $ 367 $ 375 $ 1,101 $ 1,124 $ 1,476 $ 1,534 Interest cost 808 795 2,424 2,386 3,218 3,136 Expected return on plan assets (839 ) (787 ) (2,518 ) (2,362 ) (3,305 ) (3,228 ) Amortization of prior service costs 333 333 1,001 1,001 1,335 1,335 Amortization of net actuarial loss — 104 — 312 105 398 Net periodic benefit cost $ 669 $ 820 $ 2,008 $ 2,461 $ 2,829 $ 3,175 |
Segment Information (Tables)
Segment Information (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Segment Reporting [Abstract] | |
Schedule of Segment Reporting Information | The following tables present revenues from external customers, intersegment revenues, and segment net income for the two reportable segments (thousands of dollars): Natural Gas Construction Other Total Three months ended September 30, 2017 Revenues from external customers $ 213,059 $ 351,850 $ — $ 564,909 Intersegment revenues — 28,244 — 28,244 Total $ 213,059 $ 380,094 $ — $ 593,153 Segment net income (loss) $ (4,024 ) $ 14,335 $ (107 ) $ 10,204 Three months ended September 30, 2016 Revenues from external customers $ 200,179 $ 312,531 $ — $ 512,710 Intersegment revenues — 27,259 — 27,259 Total $ 200,179 $ 339,790 $ — $ 539,969 Segment net income (loss) $ (12,405 ) $ 14,877 $ — $ 2,472 Natural Gas Construction Other Total Nine months ended September 30, 2017 Revenues from external customers $ 935,823 $ 800,073 $ — $ 1,735,896 Intersegment revenues — 72,463 — 72,463 Total $ 935,823 $ 872,536 $ — $ 1,808,359 Segment net income (loss) $ 82,436 $ 15,717 $ (777 ) $ 97,376 Nine months ended September 30, 2016 Revenues from external customers $ 980,927 $ 762,835 $ — $ 1,743,762 Intersegment revenues — 75,203 — 75,203 Total $ 980,927 $ 838,038 $ — $ 1,818,965 Segment net income $ 67,536 $ 19,325 $ — $ 86,861 Natural Gas Construction Other Total Twelve months ended September 30, 2017 Revenues from external customers $ 1,276,308 $ 1,078,195 $ — $ 2,354,503 Intersegment revenues — 95,381 — 95,381 Total $ 1,276,308 $ 1,173,576 $ — $ 2,449,884 Segment net income (loss) $ 134,323 $ 29,010 $ (777 ) $ 162,556 Twelve months ended September 30, 2016 Revenues from external customers $ 1,376,388 $ 1,022,416 $ — $ 2,398,804 Intersegment revenues — 105,566 — 105,566 Total $ 1,376,388 $ 1,127,982 $ — $ 2,504,370 Segment net income $ 119,836 $ 33,144 $ — $ 152,980 |
Derivatives and Fair Value Me21
Derivatives and Fair Value Measurements (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Fair Value Disclosures [Abstract] | |
Notional Amounts under Swaps Contracts | The differential is calculated based on the notional amounts under the contracts, which are detailed in the table below (thousands of dekatherms): September 30, 2017 December 31, 2016 Contract notional amounts 10,936 10,543 |
Amount of Gain or Losses Recognized in Income on Derivatives | The following table sets forth the gains and (losses) recognized on the Swaps (derivatives) for the three-, nine-, and twelve-month periods ended September 30, 2017 and 2016 and their location in the Condensed Consolidated Statements of Income for both the Company and Southwest: Gains (losses) recognized in income for derivatives not designated as hedging instruments: (Thousands of dollars) Three Months Ended Nine Months Ended Twelve Months Ended Location of Gain or (Loss) September 30 September 30 September 30 Instrument Recognized in Income on Derivative 2017 2016 2017 2016 2017 2016 Swaps Net cost of gas sold $ (546 ) $ (2,072 ) $ (6,851 ) $ 2,253 $ (4,098 ) $ (656 ) Swaps Net cost of gas sold 546 * 2,072 * 6,851 * (2,253 )* 4,098 * 656 * Total $ — $ — $ — $ — $ — $ — * Represents the impact of regulatory deferral accounting treatment under U.S. GAAP for rate-regulated entities. |
Fair Values of Swaps in Consolidated Balance Sheets | The following table sets forth the fair values of the Swaps and their location in the Condensed Consolidated Balance Sheets for both the Company and Southwest (thousands of dollars): Fair values of derivatives not designated as hedging instruments: September 30, 2017 Instrument Balance Sheet Location Asset Liability Net Swaps Prepaids and other current assets $ 56 $ (22 ) $ 34 Swaps Other current liabilities 27 (1,899 ) (1,872 ) Swaps Other deferred credits 1 (768 ) (767 ) Total $ 84 $ (2,689 ) $ (2,605 ) December 31, 2016 Instrument Balance Sheet Location Asset Liability Net Swaps Deferred charges and other assets $ 899 $ (54 ) $ 845 Swaps Prepaids and other current assets 3,551 (19 ) 3,532 Total $ 4,450 $ (73 ) $ 4,377 |
Paid to and Received from Counterparties for Settlements of Matured Swaps | The following table shows the amounts Southwest paid to and received from counterparties for settlements of matured Swaps. Three Months Ended Nine Months Ended Twelve Months Ended (Thousands of dollars) September 30, 2017 September 30, 2017 September 30, 2017 Paid to counterparties $ 143 $ 1,555 $ 2,655 Received from counterparties $ — $ 1,685 $ 2,060 |
Regulatory Assets/Liabilities Offsetting Derivatives at Fair Value in Condensed Consolidated Balance Sheets | The following table details the regulatory assets/(liabilities) offsetting the derivatives at fair value in the Condensed Consolidated Balance Sheets for both the Company and Southwest (thousands of dollars). September 30, 2017 Instrument Balance Sheet Location Net Total Swaps Other current liabilities $ (34 ) Swaps Prepaids and other current assets 1,872 Swaps Deferred charges and other assets 767 December 31, 2016 Instrument Balance Sheet Location Net Total Swaps Other deferred credits $ (845 ) Swaps Other current liabilities (3,532 ) |
Summary of Financial Assets and Liabilities at Fair Value | The following table sets forth, by level within the three-level fair value hierarchy that ranks the inputs used to measure fair value by their reliability, the financial assets and liabilities that were accounted for at fair value by both the Company and Southwest: Level 2—Significant other observable inputs (Thousands of dollars) September 30, 2017 December 31, 2016 Assets at fair value: Prepaids and other current assets—Swaps $ 34 $ 3,532 Deferred charges and other assets—Swaps — 845 Liabilities at fair value: Other current liabilities—Swaps (1,872 ) — Other deferred credits—Swaps (767 ) — Net Assets (Liabilities) $ (2,605 ) $ 4,377 |
Long-Term Debt (Tables)
Long-Term Debt (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Debt Disclosure [Abstract] | |
Schedule of Carrying Amounts and Estimated Fair Values of Long-Term Debt | The Centuri secured revolving credit and term loan facility and Centuri other debt obligations (not actively traded) are categorized as Level 3, based on significant unobservable inputs to their fair values. Because Centuri’s debt is not publicly traded, fair values for the secured revolving credit and term loan facility and other debt obligations were based on a conventional discounted cash flow methodology and utilized current market pricing yield curves, across Centuri’s debt maturity spectrum, of other industrial bonds with an assumed credit rating comparable to the Company’s. September 30, 2017 December 31, 2016 Carrying Market Carrying Market Amount Value Amount Value (Thousands of dollars) Southwest Gas Corporation: Debentures: Notes, 4.45%, due 2020 $ 125,000 $ 130,325 $ 125,000 $ 129,703 Notes, 6.1%, due 2041 125,000 154,434 125,000 149,734 Notes, 3.875%, due 2022 250,000 258,943 250,000 254,900 Notes, 4.875%, due 2043 250,000 275,168 250,000 266,793 Notes, 3.8%, due 2046 300,000 292,578 300,000 283,029 8% Series, due 2026 75,000 97,218 75,000 94,691 Medium-term notes, 7.59% series, due 2017 — — 25,000 25,040 Medium-term notes, 7.78% series, due 2022 25,000 29,174 25,000 29,290 Medium-term notes, 7.92% series, due 2027 25,000 31,964 25,000 31,905 Medium-term notes, 6.76% series, due 2027 7,500 8,920 7,500 8,769 Unamortized discount and debt issuance costs (9,498 ) (9,931 ) 1,173,002 1,197,569 Revolving credit facility and commercial paper 150,000 150,000 5,000 5,000 Industrial development revenue bonds: Variable-rate bonds: Tax-exempt 50,000 50,000 50,000 50,000 2003 Series A, due 2038 50,000 50,000 50,000 50,000 2008 Series A, due 2038 50,000 50,000 50,000 50,000 2009 Series A, due 2039 50,000 50,000 50,000 50,000 Unamortized discount and debt issuance costs (2,212 ) (2,489 ) 197,788 197,511 Less: current maturities — (25,000 ) Long-term debt, less current maturities - Southwest Gas Corporation $ 1,520,790 $ 1,375,080 Centuri: Centuri term loan facility $ 107,250 107,403 $ 106,700 106,819 Unamortized debt issuance costs (383 ) (516 ) 106,867 106,184 Centuri secured revolving credit facility 81,250 81,402 41,185 41,292 Centuri other debt obligations 51,527 51,978 52,635 52,840 Less: current maturities (28,453 ) (25,101 ) Long-term debt, less current maturities - Centuri $ 211,191 $ 174,903 Consolidated Southwest Gas Holdings, Inc.: Southwest Gas Corporation long-term debt $ 1,520,790 $ 1,400,080 Centuri long-term debt 239,644 200,004 Less: current maturities (28,453 ) (50,101 ) Long-term debt, less current maturities - Southwest Gas Holdings, Inc. $ 1,731,981 $ 1,549,983 |
Equity, Other Comprehensive I23
Equity, Other Comprehensive Income, and Accumulated Other Comprehensive Income (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Detailed Activities of Equity and Redeemable Noncontrolling Interest | The table below provides details of activity in equity and the redeemable noncontrolling interest for Southwest Gas Holdings, Inc. on a consolidated basis during the nine months ended September 30, 2017. Southwest Gas Holdings, Inc. Equity Accumulated Redeemable Additional Other Non- Noncontrolling Common Stock Paid-in Comprehensive Retained controlling Interest (In thousands, except per share amounts) Shares Amount Capital Income (Loss) Earnings Interest Total (Temporary DECEMBER 31, 2016 47,482 $ 49,112 $ 903,123 $ (48,008 ) $ 759,263 $ (2,217 ) $ 1,661,273 $ 22,590 Common stock issuances 250 250 21,090 21,340 Net income (loss) 97,376 (78 ) 97,298 248 Redemption value adjustments (355 ) (355 ) 355 Foreign currency exchange translation adj. 1,850 1,850 11 Redemption of Centuri shares from noncontrolling parties (23,000 ) Other comprehensive income (loss): Net actuarial gain (loss) arising during period, less amortization of unamortized benefit plan cost, net of tax 1,786 1,786 Amounts reclassified to net income, net of tax (FSIRS) 1,554 1,554 Centuri dividend to redeemable noncontrolling interest (204 ) Dividends declared Common: $1.485 per share (71,350 ) (71,350 ) SEPTEMBER 30, 2017 47,732 $ 49,362 $ 924,213 $ (42,818 ) $ 784,934 $ (2,295 ) $ 1,713,396 $ — |
Related Tax Effects Allocated to Each Component of Other Comprehensive Income (Loss) | Related Tax Effects Allocated to Each Component of Other Comprehensive Income (Loss) (Thousands of dollars) Three Months Ended September 30, 2017 Three Months Ended September 30, 2016 Before- Tax Net-of- Before- Tax Net-of- Tax (Expense) Tax Tax (Expense) Tax Amount or Benefit (1) Amount Amount or Benefit (1) Amount Defined benefit pension plans: Amortization of prior service cost $ 333 $ (126 ) $ 207 $ 333 $ (126 ) $ 207 Amortization of net actuarial (gain)/loss 6,362 (2,418 ) 3,944 6,767 (2,571 ) 4,196 Regulatory adjustment (5,734 ) 2,179 (3,555 ) (6,122 ) 2,326 (3,796 ) Pension plans other comprehensive income (loss) 961 (365 ) 596 978 (371 ) 607 FSIRS (designated hedging activities): Amounts reclassifed into net income 835 (317 ) 518 835 (317 ) 518 FSIRS other comprehensive income 835 (317 ) 518 835 (317 ) 518 Total other comprehensive income (loss) - Southwest Gas Corporation 1,796 (682 ) 1,114 1,813 (688 ) 1,125 Foreign currency translation adjustments: Translation adjustments 1,012 — 1,012 (238 ) — (238 ) Foreign currency other comprehensive income (loss) 1,012 — 1,012 (238 ) — (238 ) Total other comprehensive income (loss) - Southwest Gas Holdings, Inc. $ 2,808 $ (682 ) $ 2,126 $ 1,575 $ (688 ) $ 887 Nine Months Ended September 30, 2017 Nine Months Ended September 30, 2017 Before- Tax Net-of- Before- Tax Net-of- Tax (Expense) Tax Tax (Expense) Tax Amount or Benefit (1) Amount Amount or Benefit (1) Amount Defined benefit pension plans: Amortization of prior service cost $ 1,001 $ (380 ) $ 621 $ 1,001 $ (380 ) $ 621 Amortization of net actuarial (gain)/loss 19,084 (7,252 ) 11,832 20,300 (7,714 ) 12,586 Regulatory adjustment (17,204 ) 6,537 (10,667 ) (18,368 ) 6,980 (11,388 ) Pension plans other comprehensive income (loss) 2,881 (1,095 ) 1,786 2,933 (1,114 ) 1,819 FSIRS (designated hedging activities): Amounts reclassifed into net income 2,507 (953 ) 1,554 2,508 (952 ) 1,556 FSIRS other comprehensive income 2,507 (953 ) 1,554 2,508 (952 ) 1,556 Total other comprehensive income (loss)—Southwest Gas Corporation 5,388 (2,048 ) 3,340 5,441 (2,066 ) 3,375 Foreign currency translation adjustments: Translation adjustments 1,861 — 1,861 614 — 614 Foreign currency other comprehensive income (loss) 1,861 — 1,861 614 — 614 Total other comprehensive income (loss) $ 7,249 $ (2,048 ) $ 5,201 $ 6,055 $ (2,066 ) $ 3,989 Twelve Months Ended September 30, 2017 Twelve Months Ended September 30, 2016 Before- Tax Net-of- Before- Tax Net-of- Tax (Expense) Tax Tax (Expense) Tax Amount or Benefit (1) Amount Amount or Benefit (1) Amount Defined benefit pension plans: Net actuarial gain/(loss) $ (22,770 ) $ 8,652 $ (14,118 ) $ (30,519 ) $ 11,597 $ (18,922 ) Amortization of prior service cost 1,335 (507 ) 828 1,335 (507 ) 828 Amortization of net actuarial (gain)/loss 25,850 (9,823 ) 16,027 28,895 (10,980 ) 17,915 Regulatory adjustment (4,420 ) 1,679 (2,741 ) (653 ) 249 (404 ) Pension plans other comprehensive income (loss) (5 ) 1 (4 ) (942 ) 359 (583 ) FSIRS (designated hedging activities): Amounts reclassifed into net income 3,344 (1,271 ) 2,073 3,344 (1,271 ) 2,073 FSIRS other comprehensive income (loss) 3,344 (1,271 ) 2,073 3,344 (1,271 ) 2,073 Total other comprehensive income (loss)—Southwest Gas Corporation 3,339 (1,270 ) 2,069 2,402 (912 ) 1,490 Foreign currency translation adjustments: Translation adjustments 1,408 — 1,408 233 — 233 Foreign currency other comprehensive income (loss) 1,408 — 1,408 233 — 233 Total other comprehensive income (loss)—Southwest Gas Holdings, Inc. $ 4,747 $ (1,270 ) $ 3,477 $ 2,635 $ (912 ) $ 1,723 (1) Tax amounts are calculated using a 38% rate. The Company has elected to indefinitely reinvest the earnings of Centuri’s Canadian subsidiaries in Canada, thus preventing deferred taxes on such earnings. As a result of this assertion, the Company is not recognizing any tax effect or presenting a tax expense or benefit for the currency translation adjustment amount reported in Other Comprehensive Income, as repatriation of earnings is not anticipated. |
Rollforward of Accumulated Other Comprehensive Income | The following table represents a rollforward of AOCI, presented on the Company’s Condensed Consolidated Balance Sheets: AOCI—Rollforward (Thousands of dollars) Defined Benefit Plans FSIRS Foreign Currency Items Before-Tax Tax After-Tax Before-Tax Tax After-Tax Before-Tax Tax After-Tax AOCI Beginning Balance AOCI December 31, 2016 $ (57,613 ) $ 21,893 $ (35,720 ) $ (15,999 ) $ 6,080 $ (9,919 ) $ (2,369 ) $ — $ (2,369 ) $ (48,008 ) Translation adjustments — — — — — — 1,861 — 1,861 1,861 Other comprehensive income before reclassifications — — — — — — 1,861 — 1,861 1,861 FSIRS amounts reclassified from AOCI (1) — — — 2,507 (953 ) 1,554 — — — 1,554 Amortization of prior service cost (2) 1,001 (380 ) 621 — — — — — — 621 Amortization of net actuarial loss (2) 19,084 (7,252 ) 11,832 — — — — — — 11,832 Regulatory adjustment (3) (17,204 ) 6,537 (10,667 ) — — — — — — (10,667 ) Net current period other comprehensive income (loss) 2,881 (1,095 ) 1,786 2,507 (953 ) 1,554 1,861 — 1,861 5,201 Less: Translation adjustment attributable to redeemable noncontrolling interest — — — — — — 11 — 11 11 Net current period other comprehensive income (loss) attributable to Southwest Gas Holdings, Inc. 2,881 (1,095 ) 1,786 2,507 (953 ) 1,554 1,850 — 1,850 5,190 Ending Balance AOCI September 30, 2017 $ (54,732 ) $ 20,798 $ (33,934 ) $ (13,492 ) $ 5,127 $ (8,365 ) $ (519 ) $ — $ (519 ) $ (42,818 ) (1) The FSIRS reclassification amounts are included in the Net interest deductions line item on the Company’s Condensed Consolidated Statements of Income. (2) These AOCI components are included in the computation of net periodic benefit cost (see Note 2 – Components of Net Periodic Benefit Cost (3) The regulatory adjustment represents the portion of the activity above that is expected to be recovered through rates in the future (the related regulatory asset is included in the Deferred charges and other assets line item on the Company’s Condensed Consolidated Balance Sheets). (4) Tax amounts are calculated using a 38% rate. |
Amount Recognized Before Income Tax in Accumulated Other Comprehensive Income | The following table represents amounts (before income tax impacts) included in AOCI (in the tables above), that have not yet been recognized in net periodic benefit cost: Amounts Recognized in AOCI (Before Tax) (Thousands of dollars) September 30, 2017 December 31, 2016 Net actuarial (loss) gain $ (411,889 ) $ (430,973 ) Prior service cost (4,702 ) (5,703 ) Less: amount recognized in regulatory assets 361,859 379,063 Recognized in AOCI $ (54,732 ) $ (57,613 ) |
Southwest Gas Corporation [Member] | |
Detailed Activities of Equity and Redeemable Noncontrolling Interest | The table below provides details of activity in equity for Southwest Gas Corporation during the nine months ended September 30, 2017. Effective in January 2017, Southwest became a subsidiary of Southwest Gas Holdings, Inc., and only equity shares of the latter are publicly traded, under the ticker symbol “SWX.” Southwest Gas Corporation Equity Accumulated Additional Other Common Stock Paid-in Comprehensive Retained (In thousands, except per share amounts) Shares Amount Capital Income (Loss) Earnings Total DECEMBER 31, 2016 47,482 $ 49,112 $ 897,346 $ (45,639 ) $ 767,061 $ 1,667,880 Net income 82,436 82,436 Other comprehensive income (loss): Net actuarial gain (loss) arising during period, less amortization of unamortized benefit plan cost, net of tax 1,786 1,786 Amounts reclassified to net income, net of tax (FSIRS) 1,554 1,554 Distribution to Southwest Gas Holdings, Inc. investment in discontinued operations (182,773 ) (182,773 ) Stock-based compensation (a) 8,576 (587 ) 7,989 Dividends declared to Southwest Gas Holdings, Inc. (60,130 ) (60,130 ) Contributions from Southwest Gas Holdings, Inc. 11,659 11,659 SEPTEMBER 30, 2017 47,482 $ 49,112 $ 917,581 $ (42,299 ) $ 606,007 $ 1,530,401 (a) Stock-based compensation is based on stock awards of Southwest Gas Corporation to be issued in shares of Southwest Gas Holdings, Inc. The table above gives effect to the holding company reorganization whereby Southwest and Centuri became subsidiaries of the Company. The historic investment in Centuri was distributed to the parent holding company. This presentation is only applicable to Southwest and not to the Company overall, as Centuri continues to be included in the continuing operations of the Company. Also in connection with the holding company creation, compensation plans of Southwest include programs that will be settled with equity shares issued by Southwest Gas Holdings, Inc. Management has determined that when no consideration is directly exchanged for these programs between Southwest and the Company, the accounting impact at Southwest for these programs is reflected both as compensation expense and as an equity contribution (of the parent) in Southwest. |
Rollforward of Accumulated Other Comprehensive Income | The following table represents a rollforward of AOCI, presented on Southwest’s Condensed Consolidated Balance Sheets: AOCI—Rollforward (Thousands of dollars) Defined Benefit Plans FSIRS Before-Tax Tax After-Tax Before-Tax Tax After-Tax AOCI Beginning Balance AOCI December 31, 2016 $ (57,613 ) $ 21,893 $ (35,720 ) $ (15,999 ) $ 6,080 $ (9,919 ) $ (45,639 ) FSIRS amounts reclassified from AOCI (5) — — — 2,507 (953 ) 1,554 1,554 Amortization of prior service cost (6) 1,001 (380 ) 621 — — — 621 Amortization of net actuarial loss (6) 19,084 (7,252 ) 11,832 — — — 11,832 Regulatory adjustment (7) (17,204 ) 6,537 (10,667 ) — — — (10,667 ) Net current period other comprehensive income (loss) attributable to Southwest Gas Corporation 2,881 (1,095 ) 1,786 2,507 (953 ) 1,554 3,340 Ending Balance AOCI September 30, 2017 $ (54,732 ) $ 20,798 $ (33,934 ) $ (13,492 ) $ 5,127 $ (8,365 ) $ (42,299 ) (5) The FSIRS reclassification amounts are included in the Net interest deductions line item on Southwest’s Condensed Consolidated Statements of Income. (6) These AOCI components are included in the computation of net periodic benefit cost (see Note 2 – Components of Net Periodic Benefit Cost (7) The regulatory adjustment represents the portion of the activity above that is expected to be recovered through rates in the future (the related regulatory asset is included in the Deferred charges and other assets line item on Southwest’s Condensed Consolidated Balance Sheets). (8) Tax amounts are calculated using a 38% rate. |
Construction Services Redeema24
Construction Services Redeemable Noncontrolling Interest (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Noncontrolling Interest [Abstract] | |
Summary of Redeemable Noncontrolling Interest | The following depicts changes to the balance of the redeemable noncontrolling interest between the indicated periods. Redeemable (Thousands of dollars): Balance, December 31, 2016 $ 22,590 Net income attributable to redeemable noncontrolling interest 248 Foreign currency exchange translation adjustment 11 Centuri dividend to redeemable noncontrolling interest (204 ) Adjustment to redemption value 355 Redemption of Centuri shares from noncontrolling parties (23,000 ) Balance, September 30, 2017 $ — |
Reorganization Impacts - Disc25
Reorganization Impacts - Discontinued Operations Solely Related to Southwest Gas Corporation (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Restructuring and Related Activities [Abstract] | |
Summary of Discontinued Operations - Construction Services in Condensed Consolidated Balance Sheet and Condensed Consolidated Income Statements | The following table presents the major categories of assets and liabilities within the amounts reported as discontinued operations – construction services in the Condensed Consolidated Balance Sheet of Southwest Gas Corporation: (Thousands of dollars) December 31, 2016 Assets: Other property and investments $ 233,774 Cash and cash equivalents 9,042 Accounts receivable, net of allowances 173,300 Prepaids and other current assets 10,470 Goodwill 129,888 Other noncurrent assets 22,897 Discontinued operations - construction services - assets $ 579,371 Liabilities: Current maturities of long-term debt $ 25,101 Accounts payable 46,440 Other current liabilities 74,518 Long-term debt, less current maturities 174,903 Deferred income taxes and other deferred credits 59,653 Discontinued operations—construction services—liabilities $ 380,615 The following table presents the components of the Discontinued operations – construction services non-owner (Thousands of dollars) December 31, 2016 Construction services equity $ (4,390 ) Construction services noncontrolling interest (2,217 ) Construction services redeemable noncontrolling interest 22,590 Discontinued operations - construction services non-owner $ 15,983 The following table presents the major income statement components of discontinued operations – construction services reported in the Condensed Consolidated Income Statements of Southwest Gas Corporation: Results of Construction Services Three Nine Twelve Twelve Months Ended Months Ended Months Ended Months Ended (Thousands of dollars) September 30, 2016 September 30, 2016 September 30, 2017 September 30, 2016 Construction revenues $ 339,790 $ 838,038 $ 301,040 $ 1,127,982 Operating expenses: Construction expenses 300,611 757,919 266,504 1,009,188 Depreciation and amortization 13,409 43,351 12,318 58,368 Operating income 25,770 36,768 22,218 60,426 Other income (deductions) 44 44 1,149 1,246 Net interest deductions 1,794 4,945 1,718 6,738 Income before income taxes 24,020 31,867 21,649 54,934 Income tax expense 8,708 12,042 7,842 20,711 Net income 15,312 19,825 13,807 34,223 Net income attributable to noncontrolling interests 435 500 514 1,079 Discontinued operations - construction services - net income $ 14,877 $ 19,325 $ 13,293 $ 33,144 |
Nature of Operations and Basi26
Nature of Operations and Basis of Presentation - Additional Information (Detail) - USD ($) | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Aug. 31, 2017 | |
Significant Accounting Policies [Line Items] | ||||||
Non-cash construction advances - non-cash investing item | $ 1,900,000 | $ 3,600,000 | ||||
Accrued taxes | 4,689,000 | (7,055,000) | $ 38,084,000 | $ (11,033,000) | ||
Goodwill impairment charges | 0 | |||||
Non-service costs | $ 20,000,000 | |||||
Accounting Standards Update 2016-09 [Member] | ||||||
Significant Accounting Policies [Line Items] | ||||||
Accrued taxes | 12,000,000 | 22,000,000 | ||||
Accounting Standards Update 2016-09 [Member] | Scenario, Previously Reported [Member] | ||||||
Significant Accounting Policies [Line Items] | ||||||
Accrued taxes | 9,900,000 | 19,900,000 | ||||
Other Current Liabilities [Member] | ||||||
Significant Accounting Policies [Line Items] | ||||||
Dividends declared but not yet paid | 21,000,000 | 21,000,000 | ||||
Gas Plant [Member] | ||||||
Significant Accounting Policies [Line Items] | ||||||
Non-service costs capitalized | 3,000,000 | |||||
Gas Pipe Materials and Supplies [Member] | Prepaids and Other Current Assets [Member] | ||||||
Significant Accounting Policies [Line Items] | ||||||
Gas pipe materials and operating supplies | 36,000,000 | 36,000,000 | 30,000,000 | |||
Prepaids and other current assets | $ 24,000,000 | 24,000,000 | 953,000 | |||
Centuri Construction Group Inc [Member] | ||||||
Significant Accounting Policies [Line Items] | ||||||
Ownership percentage in subsidiary | 96.60% | |||||
Previous Owners [Member] | Link-Line and WS Nicholls [Member] | Centuri Construction Group Inc [Member] | ||||||
Significant Accounting Policies [Line Items] | ||||||
Percentage of earnings attribution by Centuri to previous owners | 3.40% | |||||
Southwest Gas Corporation [Member] | ||||||
Significant Accounting Policies [Line Items] | ||||||
Accrued taxes | $ 4,092,000 | (5,660,000) | 29,143,000 | 4,567,000 | ||
Southwest Gas Corporation [Member] | Accounting Standards Update 2016-09 [Member] | ||||||
Significant Accounting Policies [Line Items] | ||||||
Accrued taxes | 819,000 | 9,100,000 | ||||
Southwest Gas Corporation [Member] | Accounting Standards Update 2016-09 [Member] | Scenario, Previously Reported [Member] | ||||||
Significant Accounting Policies [Line Items] | ||||||
Accrued taxes | $ 2,900,000 | $ 7,000,000 | ||||
Pooled Funds and Mutual Funds [Member] | Level 2 - Significant Other Observable Inputs [Member] | ||||||
Significant Accounting Policies [Line Items] | ||||||
Money market fund investments | $ 19,800,000 | $ 19,800,000 | $ 5,300,000 |
Nature of Operations and Basi27
Nature of Operations and Basis of Presentation - Schedule of Goodwill (Detail) $ in Thousands | 9 Months Ended |
Sep. 30, 2017USD ($) | |
Goodwill [Line Items] | |
Goodwill, Beginning balance | $ 139,983 |
Foreign currency translation adjustment | 7,882 |
Goodwill, Ending balance | 147,865 |
Natural Gas Operations [Member] | |
Goodwill [Line Items] | |
Goodwill, Beginning balance | 10,095 |
Goodwill, Ending balance | 10,095 |
Construction Services [Member] | |
Goodwill [Line Items] | |
Goodwill, Beginning balance | 129,888 |
Foreign currency translation adjustment | 7,882 |
Goodwill, Ending balance | $ 137,770 |
Nature of Operations and Basi28
Nature of Operations and Basis of Presentation - Accounts Receivable for Services (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Centuri Construction Group Inc [Member] | ||
Segment Reporting Information [Line Items] | ||
Centuri accounts receivable for services provided to Southwest | $ 11,486 | $ 10,585 |
Nature of Operations and Basi29
Nature of Operations and Basis of Presentation - Schedule of Other Property and Investments (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Investment [Line Items] | ||
Net cash surrender value of COLI policies | $ 114,052 | $ 106,744 |
Other property | 13,483 | 12,859 |
Total | 369,303 | 342,343 |
Centuri Construction Group Inc [Member] | ||
Investment [Line Items] | ||
Centuri property and equipment | 493,599 | 451,114 |
Centuri accumulated provision for depreciation and amortization | $ (251,831) | $ (228,374) |
Nature of Operations and Basi30
Nature of Operations and Basis of Presentation - Other Income (Deductions) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Other income (deductions) | ||||||
Corporate and administrative | $ 5 | $ 6 | $ 6 | |||
Total other income (deductions) | 2,876 | $ 2,565 | 8,788 | $ 6,756 | 11,501 | $ 10,861 |
Southwest Gas Corporation [Member] | ||||||
Other income (deductions) | ||||||
Change in COLI policies | 2,100 | 2,300 | 6,800 | 5,400 | 8,800 | 7,500 |
Interest income | 670 | 522 | 1,848 | 1,279 | 2,417 | 1,664 |
Equity AFUDC | 968 | 611 | 2,077 | 1,893 | 2,473 | 2,890 |
Miscellaneous income and (expense) | (657) | (912) | (1,981) | (1,860) | (3,382) | (2,439) |
Total other income (deductions) | 3,081 | 2,521 | 8,744 | 6,712 | 10,308 | 9,615 |
Centuri Construction Group Inc [Member] | ||||||
Other income (deductions) | ||||||
Interest income | 1 | 2 | 1 | 2 | 414 | |
Foreign transaction gain (loss) | (442) | (3) | (640) | (22) | (640) | 28 |
Miscellaneous income and (expense) | 231 | 47 | 676 | 65 | 1,825 | 804 |
Total other income (deductions) | $ (210) | $ 44 | $ 38 | $ 44 | $ 1,187 | $ 1,246 |
Components of Net Periodic Be31
Components of Net Periodic Benefit Cost - Schedule of Net Periodic Benefit Costs (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Qualified Retirement Plan [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Service cost | $ 5,848 | $ 5,708 | $ 17,544 | $ 17,125 | $ 23,252 | $ 23,406 |
Interest cost | 11,520 | 11,507 | 34,561 | 34,520 | 46,068 | 45,577 |
Expected return on plan assets | (13,799) | (14,140) | (41,397) | (42,419) | (55,536) | (56,871) |
Amortization of net actuarial loss | 6,001 | 6,317 | 18,003 | 18,950 | 24,319 | 27,136 |
Net periodic benefit cost | 9,570 | 9,392 | 28,711 | 28,176 | 38,103 | 39,248 |
SERP [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Service cost | 77 | 83 | 232 | 248 | 315 | 328 |
Interest cost | 471 | 464 | 1,413 | 1,394 | 1,878 | 1,818 |
Amortization of net actuarial loss | 361 | 346 | 1,081 | 1,038 | 1,426 | 1,361 |
Net periodic benefit cost | 909 | 893 | 2,726 | 2,680 | 3,619 | 3,507 |
PBOP [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Service cost | 367 | 375 | 1,101 | 1,124 | 1,476 | 1,534 |
Interest cost | 808 | 795 | 2,424 | 2,386 | 3,218 | 3,136 |
Expected return on plan assets | (839) | (787) | (2,518) | (2,362) | (3,305) | (3,228) |
Amortization of prior service costs | 333 | 333 | 1,001 | 1,001 | 1,335 | 1,335 |
Amortization of net actuarial loss | 104 | 312 | 105 | 398 | ||
Net periodic benefit cost | $ 669 | $ 820 | $ 2,008 | $ 2,461 | $ 2,829 | $ 3,175 |
Segment Information - Additiona
Segment Information - Additional Information (Detail) | 9 Months Ended |
Sep. 30, 2017Segment | |
Segment Reporting Information [Line Items] | |
Number of segments | 2 |
Southwest Gas Corporation [Member] | |
Segment Reporting Information [Line Items] | |
Number of segments | 2 |
Segment Information - Schedule
Segment Information - Schedule of Segment Reporting Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Segment Reporting Information [Line Items] | ||||||
Revenues | $ 564,909 | $ 512,710 | $ 1,735,896 | $ 1,743,762 | $ 2,354,503 | $ 2,398,804 |
Segment net income (loss) | 10,204 | 2,472 | 97,376 | 86,861 | 162,556 | 152,980 |
Intersegment revenues [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Revenues | 28,244 | 27,259 | 72,463 | 75,203 | 95,381 | 105,566 |
Operating Segments [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Revenues | 593,153 | 539,969 | 1,808,359 | 1,818,965 | 2,449,884 | 2,504,370 |
Natural Gas Operations [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Revenues | 213,059 | 200,179 | 935,823 | 980,927 | 1,276,308 | 1,376,388 |
Segment net income (loss) | (4,024) | (12,405) | 82,436 | 67,536 | 134,323 | 119,836 |
Natural Gas Operations [Member] | Operating Segments [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Revenues | 213,059 | 200,179 | 935,823 | 980,927 | 1,276,308 | 1,376,388 |
Construction Services [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Revenues | 351,850 | 312,531 | 800,073 | 762,835 | 1,078,195 | 1,022,416 |
Segment net income (loss) | 14,335 | 14,877 | 15,717 | 19,325 | 29,010 | 33,144 |
Construction Services [Member] | Intersegment revenues [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Revenues | 28,244 | 27,259 | 72,463 | 75,203 | 95,381 | 105,566 |
Construction Services [Member] | Operating Segments [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Revenues | 380,094 | $ 339,790 | 872,536 | $ 838,038 | 1,173,576 | $ 1,127,982 |
Other [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Segment net income (loss) | $ (107) | $ (777) | $ (777) |
Derivatives and Fair Value Me34
Derivatives and Fair Value Measurements - Additional Information (Detail) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Derivative [Line Items] | ||||||
Gains (losses) recognized in income or other comprehensive income for derivative designated cash flow hedges | $ 518,000 | $ 518,000 | $ 1,554,000 | $ 1,556,000 | $ 2,073,000 | $ 2,073,000 |
Derivative instrument loss at settlement amortization period | 10 years | |||||
Cash Flow Hedging [Member] | ||||||
Derivative [Line Items] | ||||||
Gains (losses) recognized in income or other comprehensive income for derivative designated cash flow hedges | $ 0 | |||||
Minimum [Member] | ||||||
Derivative [Line Items] | ||||||
Maturities of natural gas swaps | Oct. 31, 2017 | |||||
Maximum [Member] | ||||||
Derivative [Line Items] | ||||||
Maturities of natural gas swaps | Mar. 31, 2019 | |||||
Arizona [Member] | ||||||
Derivative [Line Items] | ||||||
Natural gas portfolios, maximum % rate | 25.00% | |||||
California [Member] | ||||||
Derivative [Line Items] | ||||||
Natural gas portfolios, maximum % rate | 25.00% |
Derivatives and Fair Value Me35
Derivatives and Fair Value Measurements - Notional Amounts under Swaps Contracts (Detail) - MMBTU | Sep. 30, 2017 | Dec. 31, 2016 |
Offsetting [Abstract] | ||
Contract notional amounts | 10,936,000 | 10,543,000 |
Derivatives and Fair Value Me36
Derivatives and Fair Value Measurements - Amount of Gain or Losses Recognized in Income on Derivatives (Detail) - Cash Flow Hedging [Member] - Net Cost of Gas Sold [Member] - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Derivative Instruments, Gain (Loss) [Line Items] | ||||||
Amount of gain or (loss) recognized in income on derivative | $ (546) | $ (2,072) | $ (6,851) | $ 2,253 | $ (4,098) | $ (656) |
Regulatory Deferral Accounting Treatment [Member] | ||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||
Amount of gain or (loss) recognized in income on derivative | $ 546 | $ 2,072 | $ 6,851 | $ (2,253) | $ 4,098 | $ 656 |
Derivatives and Fair Value Me37
Derivatives and Fair Value Measurements - Fair Values of Swaps in Consolidated Balance Sheets (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Derivatives, Fair Value [Line Items] | ||
Asset derivatives not designated as hedging instruments | $ 84 | $ 4,450 |
Liability derivatives not designated as hedging instruments | (2,689) | (73) |
Net total not designated as hedging instruments | (2,605) | 4,377 |
Swaps [Member] | Deferred Charges and Other Assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset derivatives not designated as hedging instruments | 899 | |
Liability derivatives not designated as hedging instruments | (54) | |
Net total not designated as hedging instruments | 845 | |
Swaps [Member] | Prepaids and Other Current Assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset derivatives not designated as hedging instruments | 56 | 3,551 |
Liability derivatives not designated as hedging instruments | (22) | (19) |
Net total not designated as hedging instruments | 34 | $ 3,532 |
Swaps [Member] | Other Current Liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset derivatives not designated as hedging instruments | 27 | |
Liability derivatives not designated as hedging instruments | (1,899) | |
Net total not designated as hedging instruments | (1,872) | |
Swaps [Member] | Other Deferred Credits [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset derivatives not designated as hedging instruments | 1 | |
Liability derivatives not designated as hedging instruments | (768) | |
Net total not designated as hedging instruments | $ (767) |
Derivatives and Fair Value Me38
Derivatives and Fair Value Measurements - Paid to and Received from Counterparties for Settlements of Matured Swaps (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended |
Sep. 30, 2017 | Sep. 30, 2017 | Sep. 30, 2017 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||
Paid to counterparties | $ 143 | $ 1,555 | $ 2,655 |
Received from counterparties | $ 1,685 | $ 2,060 |
Derivatives and Fair Value Me39
Derivatives and Fair Value Measurements - Regulatory Assets/Liabilities Offsetting Derivatives at Fair Value in Condensed Consolidated Balance Sheets (Detail) - Swaps [Member] - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Other Deferred Credits [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Net Total | $ (845) | |
Other Current Liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Net Total | $ (34) | $ (3,532) |
Prepaids and Other Current Assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Net Total | 1,872 | |
Deferred Charges and Other Assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Net Total | $ 767 |
Derivatives and Fair Value Me40
Derivatives and Fair Value Measurements - Summary of Financial Assets and Liabilities at Fair Value (Detail) - Level 2 - Significant Other Observable Inputs [Member] - Swaps [Member] - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Derivatives, Fair Value [Line Items] | ||
Net Assets (Liabilities) | $ (2,605) | $ 4,377 |
Prepaids and Other Current Assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 34 | 3,532 |
Deferred Charges and Other Assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | $ 845 | |
Other Current Liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Liabilities | (1,872) | |
Other Deferred Credits [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Liabilities | $ (767) |
Common Stock - Additional Infor
Common Stock - Additional Information (Detail) | Mar. 29, 2017USD ($) | Jan. 31, 2017 | Sep. 30, 2017USD ($)$ / sharesshares | Sep. 30, 2017USD ($)$ / sharesshares | Sep. 30, 2016USD ($) | Sep. 30, 2017USD ($) | Sep. 30, 2016USD ($) |
Conversion of stock conversion ratio | 1 | ||||||
Value of common stock | $ 150,000,000 | ||||||
Net proceeds to company | $ 11,563,000 | $ 530,000 | $ 11,505,000 | $ 507,000 | |||
Common stock issued through Restricted Stock/Unit Plan, and Management Incentive Plan | shares | 103,000 | ||||||
BNY Mellon Capital Markets, LLC [Member] | |||||||
Common stock sold through agent | shares | 147,077 | 147,077 | |||||
Open market weighted average price per share | $ / shares | $ 80.07 | $ 80.07 | |||||
Net proceeds to company | $ 11,659,104 | $ 11,659,104 | |||||
Agent commissions | 117,769 | 117,769 | |||||
Common stock available for sale under the program | $ 138,223,127 | $ 138,223,127 | $ 138,223,127 |
Long-Term Debt - Schedule of Ca
Long-Term Debt - Schedule of Carrying Amounts and Estimated Fair Values of Long-Term Debt (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Debt Instrument [Line Items] | ||
Less: current maturities | $ (28,453) | $ (50,101) |
Long-term debt, less current maturities | 1,731,981 | 1,549,983 |
Long-term Debt, Current and Noncurrent Abstract | ||
Less: current maturities | (28,453) | (50,101) |
Long-term debt, less current maturities | 1,731,981 | 1,549,983 |
Southwest Gas Corporation [Member] | ||
Debt Instrument [Line Items] | ||
Less: current maturities | (25,000) | |
Long-term debt, less current maturities | 1,520,790 | 1,375,080 |
Long-term Debt, Current and Noncurrent Abstract | ||
Less: current maturities | (25,000) | |
Long-term debt, less current maturities | 1,520,790 | 1,375,080 |
Variable-rate bonds [Member] | 2009 Series A, due 2039 [Member] | Southwest Gas Corporation [Member] | ||
Debt Instrument [Line Items] | ||
Unsecured debt, fair value | 50,000 | 50,000 |
Carrying Amount [Member] | ||
Debt Instrument [Line Items] | ||
Less: current maturities | (28,453) | (50,101) |
Long-term debt, less current maturities | 1,731,981 | 1,549,983 |
Long-term Debt, Current and Noncurrent Abstract | ||
Less: current maturities | (28,453) | (50,101) |
Long-term debt, less current maturities | 1,731,981 | 1,549,983 |
Carrying Amount [Member] | Southwest Gas Corporation [Member] | ||
Debt Instrument [Line Items] | ||
Unamortized discount and debt issuance costs | (2,212) | (2,489) |
Less: current maturities | (25,000) | |
Long-term debt, less current maturities | 1,520,790 | 1,375,080 |
Long-term Debt, Current and Noncurrent Abstract | ||
Long-term debt | 1,520,790 | 1,400,080 |
Less: current maturities | (25,000) | |
Long-term debt, less current maturities | 1,520,790 | 1,375,080 |
Carrying Amount [Member] | Centuri Construction Group Inc [Member] | ||
Debt Instrument [Line Items] | ||
Less: current maturities | (28,453) | (25,101) |
Long-term debt, less current maturities | 211,191 | 174,903 |
Unamortized debt issuance costs | (383) | (516) |
Long-term Debt, Current and Noncurrent Abstract | ||
Long-term debt | 239,644 | 200,004 |
Less: current maturities | (28,453) | (25,101) |
Long-term debt, less current maturities | 211,191 | 174,903 |
Centuri term loan/secured revolving credit facility | 106,867 | 106,184 |
Carrying Amount [Member] | Centuri Secured Revolving Credit Facility [Member] | Centuri Construction Group Inc [Member] | ||
Long-term Debt, Current and Noncurrent Abstract | ||
Centuri term loan/secured revolving credit facility | 81,250 | 41,185 |
Carrying Amount [Member] | IDRBs [Member] | Southwest Gas Corporation [Member] | ||
Debt Instrument [Line Items] | ||
Unsecured debt | 197,788 | 197,511 |
Carrying Amount [Member] | Centuri Term Loan Facility [Member] | Centuri Construction Group Inc [Member] | ||
Long-term Debt, Current and Noncurrent Abstract | ||
Centuri term loan/secured revolving credit facility | 107,250 | 106,700 |
Carrying Amount [Member] | Centuri Other Debt Obligations [Member] | Centuri Construction Group Inc [Member] | ||
Long-term Debt, Current and Noncurrent Abstract | ||
Centuri other debt obligations | 51,527 | 52,635 |
Carrying Amount [Member] | Debentures [Member] | Southwest Gas Corporation [Member] | ||
Debt Instrument [Line Items] | ||
Unamortized discount and debt issuance costs | (9,498) | (9,931) |
Notes payable | 1,173,002 | 1,197,569 |
Carrying Amount [Member] | Debentures [Member] | Notes, 4.45%, due 2020 [Member] | Southwest Gas Corporation [Member] | ||
Debt Instrument [Line Items] | ||
Notes payable | 125,000 | 125,000 |
Carrying Amount [Member] | Debentures [Member] | Notes, 6.1%, due 2041 [Member] | Southwest Gas Corporation [Member] | ||
Debt Instrument [Line Items] | ||
Notes payable | 125,000 | 125,000 |
Carrying Amount [Member] | Debentures [Member] | Notes, 3.875%, due 2022 [Member] | Southwest Gas Corporation [Member] | ||
Debt Instrument [Line Items] | ||
Notes payable | 250,000 | 250,000 |
Carrying Amount [Member] | Debentures [Member] | Notes, 4.875%, due 2043 [Member] | Southwest Gas Corporation [Member] | ||
Debt Instrument [Line Items] | ||
Notes payable | 250,000 | 250,000 |
Carrying Amount [Member] | Debentures [Member] | Notes, 3.8%, due 2046 [Member] | Southwest Gas Corporation [Member] | ||
Debt Instrument [Line Items] | ||
Notes payable | 300,000 | 300,000 |
Carrying Amount [Member] | Debentures [Member] | 8% Series, due 2026 [Member] | Southwest Gas Corporation [Member] | ||
Debt Instrument [Line Items] | ||
Notes payable | 75,000 | 75,000 |
Carrying Amount [Member] | Debentures [Member] | Medium-term notes, 7.59% series, due 2017 [Member] | Southwest Gas Corporation [Member] | ||
Debt Instrument [Line Items] | ||
Notes payable | 25,000 | |
Carrying Amount [Member] | Debentures [Member] | Medium-term notes, 7.78% series, due 2022 [Member] | Southwest Gas Corporation [Member] | ||
Debt Instrument [Line Items] | ||
Notes payable | 25,000 | 25,000 |
Carrying Amount [Member] | Debentures [Member] | Medium-term notes, 7.92% series, due 2027 [Member] | Southwest Gas Corporation [Member] | ||
Debt Instrument [Line Items] | ||
Notes payable | 25,000 | 25,000 |
Carrying Amount [Member] | Debentures [Member] | Medium-term notes, 6.76% series, due 2027 [Member] | Southwest Gas Corporation [Member] | ||
Debt Instrument [Line Items] | ||
Notes payable | 7,500 | 7,500 |
Carrying Amount [Member] | Debentures [Member] | Revolving Credit Facility and Commercial Paper [Member] | Southwest Gas Corporation [Member] | ||
Debt Instrument [Line Items] | ||
Line of credit facility | 150,000 | 5,000 |
Carrying Amount [Member] | Variable-rate bonds [Member] | Tax-exempt Series A, due 2028 [Member] | Southwest Gas Corporation [Member] | ||
Debt Instrument [Line Items] | ||
Unsecured debt | 50,000 | 50,000 |
Carrying Amount [Member] | Variable-rate bonds [Member] | 2003 Series A, due 2038 [Member] | Southwest Gas Corporation [Member] | ||
Debt Instrument [Line Items] | ||
Unsecured debt | 50,000 | 50,000 |
Carrying Amount [Member] | Variable-rate bonds [Member] | 2008 Series A, due 2038 [Member] | Southwest Gas Corporation [Member] | ||
Debt Instrument [Line Items] | ||
Unsecured debt | 50,000 | 50,000 |
Carrying Amount [Member] | Variable-rate bonds [Member] | 2009 Series A, due 2039 [Member] | Southwest Gas Corporation [Member] | ||
Debt Instrument [Line Items] | ||
Unsecured debt | 50,000 | 50,000 |
Market Value [Member] | Centuri Construction Group Inc [Member] | ||
Long-term Debt, Current and Noncurrent Abstract | ||
Centuri term loan/secured revolving credit facility | 107,403 | 106,819 |
Centuri other debt obligations | 51,978 | 52,840 |
Market Value [Member] | Centuri Secured Revolving Credit Facility [Member] | Centuri Construction Group Inc [Member] | ||
Long-term Debt, Current and Noncurrent Abstract | ||
Centuri term loan/secured revolving credit facility | 81,402 | 41,292 |
Market Value [Member] | Debentures [Member] | Notes, 4.45%, due 2020 [Member] | Southwest Gas Corporation [Member] | ||
Debt Instrument [Line Items] | ||
Notes payable, fair value disclosure | 130,325 | 129,703 |
Market Value [Member] | Debentures [Member] | Notes, 6.1%, due 2041 [Member] | Southwest Gas Corporation [Member] | ||
Debt Instrument [Line Items] | ||
Notes payable, fair value disclosure | 154,434 | 149,734 |
Market Value [Member] | Debentures [Member] | Notes, 3.875%, due 2022 [Member] | Southwest Gas Corporation [Member] | ||
Debt Instrument [Line Items] | ||
Notes payable, fair value disclosure | 258,943 | 254,900 |
Market Value [Member] | Debentures [Member] | Notes, 4.875%, due 2043 [Member] | Southwest Gas Corporation [Member] | ||
Debt Instrument [Line Items] | ||
Notes payable, fair value disclosure | 275,168 | 266,793 |
Market Value [Member] | Debentures [Member] | Notes, 3.8%, due 2046 [Member] | Southwest Gas Corporation [Member] | ||
Debt Instrument [Line Items] | ||
Notes payable, fair value disclosure | 292,578 | 283,029 |
Market Value [Member] | Debentures [Member] | 8% Series, due 2026 [Member] | Southwest Gas Corporation [Member] | ||
Debt Instrument [Line Items] | ||
Notes payable, fair value disclosure | 97,218 | 94,691 |
Market Value [Member] | Debentures [Member] | Medium-term notes, 7.59% series, due 2017 [Member] | Southwest Gas Corporation [Member] | ||
Debt Instrument [Line Items] | ||
Notes payable, fair value disclosure | 25,040 | |
Market Value [Member] | Debentures [Member] | Medium-term notes, 7.78% series, due 2022 [Member] | Southwest Gas Corporation [Member] | ||
Debt Instrument [Line Items] | ||
Notes payable, fair value disclosure | 29,174 | 29,290 |
Market Value [Member] | Debentures [Member] | Medium-term notes, 7.92% series, due 2027 [Member] | Southwest Gas Corporation [Member] | ||
Debt Instrument [Line Items] | ||
Notes payable, fair value disclosure | 31,964 | 31,905 |
Market Value [Member] | Debentures [Member] | Medium-term notes, 6.76% series, due 2027 [Member] | Southwest Gas Corporation [Member] | ||
Debt Instrument [Line Items] | ||
Notes payable, fair value disclosure | 8,920 | 8,769 |
Market Value [Member] | Debentures [Member] | Revolving Credit Facility and Commercial Paper [Member] | Southwest Gas Corporation [Member] | ||
Debt Instrument [Line Items] | ||
Line of credit facility, fair value | 150,000 | 5,000 |
Market Value [Member] | Variable-rate bonds [Member] | Tax-exempt Series A, due 2028 [Member] | Southwest Gas Corporation [Member] | ||
Debt Instrument [Line Items] | ||
Unsecured debt, fair value | 50,000 | 50,000 |
Market Value [Member] | Variable-rate bonds [Member] | 2003 Series A, due 2038 [Member] | Southwest Gas Corporation [Member] | ||
Debt Instrument [Line Items] | ||
Unsecured debt, fair value | 50,000 | 50,000 |
Market Value [Member] | Variable-rate bonds [Member] | 2008 Series A, due 2038 [Member] | Southwest Gas Corporation [Member] | ||
Debt Instrument [Line Items] | ||
Unsecured debt, fair value | $ 50,000 | $ 50,000 |
Long-Term Debt - Schedule of 43
Long-Term Debt - Schedule of Carrying Amounts and Estimated Fair Values of Long-Term Debt (Parenthetical) (Detail) - Southwest Gas Corporation [Member] | 9 Months Ended | 12 Months Ended |
Sep. 30, 2017 | Dec. 31, 2016 | |
Debentures [Member] | Medium-term notes, 7.59% series, due 2017 [Member] | ||
Debt Instrument [Line Items] | ||
Debt instrument interest rate | 7.59% | 7.59% |
Debt instrument due date | Jan. 17, 2017 | Jan. 17, 2017 |
Debentures [Member] | Notes, 4.45%, due 2020 [Member] | ||
Debt Instrument [Line Items] | ||
Debt instrument interest rate | 4.45% | 4.45% |
Debt instrument due date | Dec. 1, 2020 | Dec. 1, 2020 |
Debentures [Member] | Notes, 6.1%, due 2041 [Member] | ||
Debt Instrument [Line Items] | ||
Debt instrument interest rate | 6.10% | 6.10% |
Debt instrument due date | Feb. 15, 2041 | Feb. 15, 2041 |
Debentures [Member] | Notes, 3.875%, due 2022 [Member] | ||
Debt Instrument [Line Items] | ||
Debt instrument interest rate | 3.875% | 3.875% |
Debt instrument due date | Apr. 1, 2022 | Apr. 1, 2022 |
Debentures [Member] | Notes, 4.875%, due 2043 [Member] | ||
Debt Instrument [Line Items] | ||
Debt instrument interest rate | 4.875% | 4.875% |
Debt instrument due date | Oct. 1, 2043 | Oct. 1, 2043 |
Debentures [Member] | Notes, 3.8%, due 2046 [Member] | ||
Debt Instrument [Line Items] | ||
Debt instrument interest rate | 3.80% | 3.80% |
Debt instrument due date | Sep. 30, 2046 | Sep. 30, 2046 |
Debentures [Member] | 8% Series, due 2026 [Member] | ||
Debt Instrument [Line Items] | ||
Debt instrument interest rate | 8.00% | 8.00% |
Debt instrument due date | Aug. 1, 2026 | Aug. 1, 2026 |
Debentures [Member] | Medium-term notes, 7.78% series, due 2022 [Member] | ||
Debt Instrument [Line Items] | ||
Debt instrument interest rate | 7.78% | 7.78% |
Debt instrument due date | Feb. 3, 2022 | Feb. 3, 2022 |
Debentures [Member] | Medium-term notes, 7.92% series, due 2027 [Member] | ||
Debt Instrument [Line Items] | ||
Debt instrument interest rate | 7.92% | 7.92% |
Debt instrument due date | Jun. 24, 2027 | Jun. 24, 2027 |
Debentures [Member] | Medium-term notes, 6.76% series, due 2027 [Member] | ||
Debt Instrument [Line Items] | ||
Debt instrument interest rate | 6.76% | 6.76% |
Debt instrument due date | Sep. 24, 2027 | Sep. 24, 2027 |
Variable-rate bonds [Member] | Tax-exempt Series A, due 2028 [Member] | ||
Debt Instrument [Line Items] | ||
Debt instrument due date | Dec. 1, 2028 | Dec. 1, 2028 |
Variable-rate bonds [Member] | 2003 Series A, due 2038 [Member] | ||
Debt Instrument [Line Items] | ||
Debt instrument due date | Mar. 1, 2038 | Mar. 1, 2038 |
Variable-rate bonds [Member] | 2008 Series A, due 2038 [Member] | ||
Debt Instrument [Line Items] | ||
Debt instrument due date | Mar. 1, 2038 | Mar. 1, 2038 |
Variable-rate bonds [Member] | Market Value [Member] | 2009 Series A, due 2039 [Member] | ||
Debt Instrument [Line Items] | ||
Debt instrument due date | Dec. 1, 2039 | Dec. 1, 2039 |
Long-Term Debt - Additional Inf
Long-Term Debt - Additional Information (Detail) - USD ($) | 1 Months Ended | 9 Months Ended | |
Mar. 31, 2017 | Sep. 30, 2017 | Dec. 31, 2014 | |
Centuri Construction Group Inc [Member] | Secured Revolving Credit and Term Loan Facility [Member] | |||
Debt Instrument [Line Items] | |||
Credit facility maximum borrowing capacity | $ 300,000,000 | ||
Credit facility expiration date | Oct. 31, 2019 | ||
Borrowings outstanding under facility | $ 189,000,000 | ||
Term loan portion of line of credit | $ 150,000,000 | ||
Term loan facility outstanding amount | 107,000,000 | ||
Debt secured by assets | $ 526,000,000 | ||
Southwest Gas Credit Facility [Member] | |||
Debt Instrument [Line Items] | |||
Credit facility maximum borrowing capacity | $ 400,000,000 | ||
Line of credit designated as long term debt | 150,000,000 | ||
Line of credit designated for working capital purposes | 250,000,000 | ||
Credit facility expiration date | Mar. 1, 2022 | ||
Southwest Gas Credit Facility [Member] | Long-term Debt [Member] | |||
Debt Instrument [Line Items] | |||
Borrowings outstanding under facility | $ 150,000,000 | ||
Southwest Gas Credit Facility [Member] | Short-term Debt [Member] | |||
Debt Instrument [Line Items] | |||
Credit facility maximum borrowing capacity | $ 100,000,000 | ||
Credit facility expiration date | Mar. 31, 2022 | ||
Borrowings outstanding under facility | $ 83,000,000 | ||
Southwest Gas Credit Facility [Member] | Before Amendment [Member] | |||
Debt Instrument [Line Items] | |||
Credit facility maximum borrowing capacity | $ 300,000,000 | ||
Previous credit facility expiration date | Mar. 1, 2021 | ||
Southwest Gas Credit Facility [Member] | LIBOR [Member] | |||
Debt Instrument [Line Items] | |||
Applicable margin | 1.00% | ||
Southwest Gas Credit Facility [Member] | Alternative Base Rate [Member] | |||
Debt Instrument [Line Items] | |||
Applicable margin | 0.00% |
Short-Term Debt - Additional In
Short-Term Debt - Additional Information (Detail) - USD ($) | 1 Months Ended | 9 Months Ended |
Mar. 31, 2017 | Sep. 30, 2017 | |
Short-term Debt [Line Items] | ||
Short term borrowings outstanding | $ 110,500,000 | |
Southwest Gas Credit Facility [Member] | ||
Short-term Debt [Line Items] | ||
Credit facility maximum borrowing capacity | $ 400,000,000 | |
Credit facility expiration date | Mar. 1, 2022 | |
Line of credit designated for working capital purposes | 250,000,000 | |
Short-term Debt [Member] | Southwest Gas Credit Facility [Member] | ||
Short-term Debt [Line Items] | ||
Credit facility maximum borrowing capacity | $ 100,000,000 | |
Credit facility expiration date | Mar. 31, 2022 | |
Borrowings outstanding under facility | $ 83,000,000 | |
Credit Facility [Member] | Short-term Debt [Member] | Southwest Gas Credit Facility [Member] | ||
Short-term Debt [Line Items] | ||
Short term borrowings outstanding | $ 27,500,000 | |
Minimum [Member] | Short-term Debt [Member] | Southwest Gas Credit Facility [Member] | ||
Short-term Debt [Line Items] | ||
Commitment fee | 0.075% | |
Maximum [Member] | Short-term Debt [Member] | Southwest Gas Credit Facility [Member] | ||
Short-term Debt [Line Items] | ||
Commitment fee | 0.20% | |
Alternative Base Rate [Member] | Southwest Gas Credit Facility [Member] | ||
Short-term Debt [Line Items] | ||
Applicable margin | 0.00% | |
Alternative Base Rate [Member] | Minimum [Member] | Short-term Debt [Member] | Southwest Gas Credit Facility [Member] | ||
Short-term Debt [Line Items] | ||
Applicable margin | 0.00% | |
Alternative Base Rate [Member] | Maximum [Member] | Short-term Debt [Member] | Southwest Gas Credit Facility [Member] | ||
Short-term Debt [Line Items] | ||
Applicable margin | 0.50% | |
LIBOR [Member] | Southwest Gas Credit Facility [Member] | ||
Short-term Debt [Line Items] | ||
Applicable margin | 1.00% | |
LIBOR [Member] | Minimum [Member] | Short-term Debt [Member] | Southwest Gas Credit Facility [Member] | ||
Short-term Debt [Line Items] | ||
Applicable margin | 0.75% | |
LIBOR [Member] | Maximum [Member] | Short-term Debt [Member] | Southwest Gas Credit Facility [Member] | ||
Short-term Debt [Line Items] | ||
Applicable margin | 1.50% |
Equity, Other Comprehensive I46
Equity, Other Comprehensive Income, and Accumulated Other Comprehensive Income - Detailed Activities of Equity and Redeemable Noncontrolling Interest (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Schedule Of Stockholders Equity [Line Items] | ||||||
Balance | $ 1,661,273 | |||||
Balance | $ 22,590 | |||||
Balance, shares | 47,482,068 | |||||
Common stock issuances | $ 21,340 | |||||
Net income (loss) | 97,298 | |||||
Net income (loss) | $ 10,420 | $ 2,907 | 97,546 | $ 87,361 | $ 163,240 | $ 154,059 |
Redemption value adjustments | (355) | |||||
Foreign currency exchange translation adj. | 1,850 | |||||
Other comprehensive income (loss): | ||||||
Net actuarial gain (loss) arising during period, less amortization of unamortized benefit plan cost, net of tax | 596 | 607 | 1,786 | 1,819 | (4) | (583) |
Amounts reclassified into net income | 518 | 518 | 1,554 | 1,556 | 2,073 | 2,073 |
Dividends declared Common | (71,350) | |||||
Balance | $ 1,713,396 | $ 1,713,396 | $ 1,713,396 | |||
Balance, shares | 47,731,840 | 47,731,840 | 47,731,840 | |||
Southwest Gas Corporation [Member] | ||||||
Schedule Of Stockholders Equity [Line Items] | ||||||
Balance | $ 1,667,880 | |||||
Net income (loss) | 82,436 | |||||
Net income (loss) | 82,436 | 87,361 | $ 148,130 | 154,059 | ||
Other comprehensive income (loss): | ||||||
Net actuarial gain (loss) arising during period, less amortization of unamortized benefit plan cost, net of tax | $ 596 | 607 | 1,786 | 1,819 | (4) | (583) |
Amounts reclassified into net income | 518 | $ 518 | 1,554 | $ 1,556 | 2,073 | $ 2,073 |
Distribution to Southwest Gas Holdings, Inc. investment in discontinued operations | (182,773) | |||||
Stock-based compensation | 7,989 | |||||
Dividends declared Common | (60,130) | |||||
Contributions from Southwest Gas Holdings, Inc. | 11,659 | |||||
Balance | 1,530,401 | 1,530,401 | 1,530,401 | |||
Common Stock [Member] | ||||||
Schedule Of Stockholders Equity [Line Items] | ||||||
Balance | $ 49,112 | |||||
Balance, shares | 47,482,000 | |||||
Common stock issuances | $ 250 | |||||
Common stock issuances, Shares | 250,000 | |||||
Other comprehensive income (loss): | ||||||
Balance | $ 49,362 | $ 49,362 | $ 49,362 | |||
Balance, shares | 47,732,000 | 47,732,000 | 47,732,000 | |||
Common Stock [Member] | Southwest Gas Corporation [Member] | ||||||
Schedule Of Stockholders Equity [Line Items] | ||||||
Balance | $ 49,112 | |||||
Balance, shares | 47,482,000 | |||||
Other comprehensive income (loss): | ||||||
Balance | $ 49,112 | $ 49,112 | $ 49,112 | |||
Balance, shares | 47,482,000 | 47,482,000 | 47,482,000 | |||
Additional Paid-in Capital [Member] | ||||||
Schedule Of Stockholders Equity [Line Items] | ||||||
Balance | $ 903,123 | |||||
Common stock issuances | 21,090 | |||||
Other comprehensive income (loss): | ||||||
Balance | $ 924,213 | 924,213 | $ 924,213 | |||
Additional Paid-in Capital [Member] | Southwest Gas Corporation [Member] | ||||||
Schedule Of Stockholders Equity [Line Items] | ||||||
Balance | 897,346 | |||||
Other comprehensive income (loss): | ||||||
Stock-based compensation | 8,576 | |||||
Contributions from Southwest Gas Holdings, Inc. | 11,659 | |||||
Balance | 917,581 | 917,581 | 917,581 | |||
Accumulated Other Comprehensive Income (Loss) [Member] | ||||||
Schedule Of Stockholders Equity [Line Items] | ||||||
Balance | (48,008) | |||||
Foreign currency exchange translation adj. | 1,850 | |||||
Other comprehensive income (loss): | ||||||
Net actuarial gain (loss) arising during period, less amortization of unamortized benefit plan cost, net of tax | 1,786 | |||||
Amounts reclassified into net income | 1,554 | |||||
Balance | (42,818) | (42,818) | (42,818) | |||
Accumulated Other Comprehensive Income (Loss) [Member] | Southwest Gas Corporation [Member] | ||||||
Schedule Of Stockholders Equity [Line Items] | ||||||
Balance | (45,639) | |||||
Other comprehensive income (loss): | ||||||
Net actuarial gain (loss) arising during period, less amortization of unamortized benefit plan cost, net of tax | 1,786 | |||||
Amounts reclassified into net income | 1,554 | |||||
Balance | (42,299) | (42,299) | (42,299) | |||
Retained Earnings [Member] | ||||||
Schedule Of Stockholders Equity [Line Items] | ||||||
Balance | 759,263 | |||||
Net income (loss) | 97,376 | |||||
Redemption value adjustments | (355) | |||||
Other comprehensive income (loss): | ||||||
Dividends declared Common | (71,350) | |||||
Balance | 784,934 | 784,934 | 784,934 | |||
Retained Earnings [Member] | Southwest Gas Corporation [Member] | ||||||
Schedule Of Stockholders Equity [Line Items] | ||||||
Balance | 767,061 | |||||
Net income (loss) | 82,436 | |||||
Other comprehensive income (loss): | ||||||
Distribution to Southwest Gas Holdings, Inc. investment in discontinued operations | (182,773) | |||||
Stock-based compensation | (587) | |||||
Dividends declared Common | (60,130) | |||||
Balance | 606,007 | 606,007 | 606,007 | |||
Redeemable Noncontrolling Interest (Temporary Equity) [Member] | ||||||
Schedule Of Stockholders Equity [Line Items] | ||||||
Balance | 22,590 | |||||
Net income (loss) attributable to temporary equity | 248 | |||||
Redemption value adjustments | 355 | |||||
Foreign currency exchange translation adj attributable to temporary equity | 11 | |||||
Redemption of Centuri shares from noncontrolling parties | (23,000) | |||||
Other comprehensive income (loss): | ||||||
Centuri dividend to redeemable noncontrolling interest | (204) | |||||
Centuri dividend to redeemable noncontrolling interest | (204) | |||||
Balance | 0 | 0 | 0 | |||
Non-controlling Interest [Member] | ||||||
Schedule Of Stockholders Equity [Line Items] | ||||||
Balance | (2,217) | |||||
Net income (loss) | (78) | |||||
Other comprehensive income (loss): | ||||||
Balance | $ (2,295) | $ (2,295) | $ (2,295) |
Equity, Other Comprehensive I47
Equity, Other Comprehensive Income, and Accumulated Other Comprehensive Income - Detailed Activities of Equity and Redeemable Noncontrolling Interest (Parenthetical) (Detail) - $ / shares | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Statement of Stockholders' Equity [Abstract] | ||||||
Dividends declared Common, per share | $ 0.495 | $ 0.450 | $ 1.485 | $ 1.350 | $ 1.935 | $ 1.755 |
Equity, Other Comprehensive I48
Equity, Other Comprehensive Income, and Accumulated Other Comprehensive Income - Related Tax Effects Allocated to Each Component of Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Amortization of prior service cost, Before-Tax Amount | $ 333 | $ 333 | $ 1,001 | $ 1,001 | $ 1,335 | $ 1,335 |
Translation adjustments, Before-Tax Amount | 1,012 | (238) | 1,861 | 614 | 1,408 | 233 |
Translation adjustments, Tax (Expense) or Benefit | 0 | 0 | 0 | 0 | ||
Amortization of net actuarial (gain)/loss, Before-Tax Amount | 6,362 | 6,767 | 19,084 | 20,300 | 25,850 | 28,895 |
Foreign currency other comprehensive income (loss), Before-Tax Amount | 1,012 | (238) | 1,861 | 614 | 1,408 | 233 |
Foreign currency other comprehensive income (loss), Tax (Expense) or Benefit | 0 | 0 | 0 | 0 | 0 | 0 |
Net actuarial gain/(loss), Before-Tax Amount | (22,770) | (30,519) | ||||
Total other comprehensive income (loss), Before-Tax Amount | 2,808 | 1,575 | 7,249 | 6,055 | 4,747 | 2,635 |
Total other comprehensive income (loss), Tax (Expense) or Benefit | (682) | (688) | (2,048) | (2,066) | (1,270) | (912) |
Regulatory adjustment, Before-Tax Amount | (5,734) | (6,122) | (17,204) | (18,368) | (4,420) | (653) |
Net current period other comprehensive income (loss), Defined Benefit Plans Before-Tax | 961 | 978 | 2,881 | 2,933 | (5) | (942) |
Amounts reclassified into net income, Before-Tax Amount | 835 | 835 | 2,507 | 2,508 | 3,344 | 3,344 |
FSIRS other comprehensive income (loss), Before-Tax Amount | 835 | 835 | 2,507 | 2,508 | 3,344 | 3,344 |
Net actuarial gain/(loss), Tax (Expense) or Benefit | 8,652 | 11,597 | ||||
Amortization of prior service cost, Tax (Expense) or Benefit | (126) | (126) | (380) | (380) | (507) | (507) |
Amortization of net actuarial (gain)/loss, Tax (Expense) or Benefit | (2,418) | (2,571) | (7,252) | (7,714) | (9,823) | (10,980) |
Regulatory adjustment, Tax (Expense) or Benefit | 2,179 | 2,326 | 6,537 | 6,980 | 1,679 | 249 |
Pension plans other comprehensive income (loss), Tax (Expense) or Benefit | (365) | (371) | (1,095) | (1,114) | 1 | 359 |
Amounts reclassified into net income, Tax (Expense) or Benefit | (317) | (317) | (953) | (952) | (1,271) | (1,271) |
FSIRS other comprehensive income (loss), Tax (Expense) or Benefit | (317) | (317) | (953) | (952) | (1,271) | (1,271) |
Net actuarial gain/(loss), Net-of-Tax Amount | (14,118) | (18,922) | ||||
Amortization of prior service cost, Net-of-Tax Amount | 207 | 207 | 621 | 621 | 828 | 828 |
Amortization of net actuarial (gain)/loss, Defined Benefit Plans After-Tax | 3,944 | 4,196 | 11,832 | 12,586 | 16,027 | 17,915 |
Regulatory adjustment, Net-of-Tax Amount | (3,555) | (3,796) | (10,667) | (11,388) | (2,741) | (404) |
Pension plans other comprehensive income (loss), Net-of-Tax Amount | 596 | 607 | 1,786 | 1,819 | (4) | (583) |
Amounts reclassified into net income | 518 | 518 | 1,554 | 1,556 | 2,073 | 2,073 |
FSIRS other comprehensive income (loss), Net-of-Tax Amount | 518 | 518 | 1,554 | 1,556 | 2,073 | 2,073 |
Translation adjustments, Net-of-Tax Amount | 1,012 | (238) | 1,861 | 614 | 1,408 | 233 |
Foreign currency other comprehensive income (loss), Net-of-Tax Amount | 1,012 | (238) | 1,861 | 614 | 1,408 | 233 |
Total other comprehensive income (loss), net of tax | 2,126 | 887 | 5,201 | 3,989 | 3,477 | 1,723 |
Southwest Gas Corporation [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Amortization of prior service cost, Before-Tax Amount | 1,001 | |||||
Amortization of net actuarial (gain)/loss, Before-Tax Amount | 19,084 | |||||
Total other comprehensive income (loss), Before-Tax Amount | 1,796 | 1,813 | 5,388 | 5,441 | 3,339 | 2,402 |
Total other comprehensive income (loss), Tax (Expense) or Benefit | (682) | (688) | (2,048) | (2,066) | (1,270) | (912) |
Regulatory adjustment, Before-Tax Amount | (17,204) | |||||
Amounts reclassified into net income, Before-Tax Amount | 2,507 | |||||
Amortization of prior service cost, Tax (Expense) or Benefit | (380) | |||||
Amortization of net actuarial (gain)/loss, Tax (Expense) or Benefit | (7,252) | |||||
Regulatory adjustment, Tax (Expense) or Benefit | 6,537 | |||||
Amounts reclassified into net income, Tax (Expense) or Benefit | (953) | |||||
Net actuarial gain/(loss), Net-of-Tax Amount | (14,118) | (18,922) | ||||
Amortization of prior service cost, Net-of-Tax Amount | 207 | 207 | 621 | 621 | 828 | 828 |
Amortization of net actuarial (gain)/loss, Defined Benefit Plans After-Tax | 3,944 | 4,196 | 11,832 | 12,586 | 16,027 | 17,915 |
Regulatory adjustment, Net-of-Tax Amount | (3,555) | (3,796) | (10,667) | (11,388) | (2,741) | (404) |
Pension plans other comprehensive income (loss), Net-of-Tax Amount | 596 | 607 | 1,786 | 1,819 | (4) | (583) |
Amounts reclassified into net income | 518 | 518 | 1,554 | 1,556 | 2,073 | 2,073 |
FSIRS other comprehensive income (loss), Net-of-Tax Amount | 518 | 518 | 1,554 | 1,556 | 2,073 | 2,073 |
Total other comprehensive income (loss), net of tax | $ 1,114 | $ 1,125 | $ 3,340 | $ 3,375 | $ 2,069 | $ 1,490 |
Equity, Other Comprehensive I49
Equity, Other Comprehensive Income, and Accumulated Other Comprehensive Income - Related Tax Effects Allocated to Each Component of Other Comprehensive Income (Loss) (Parenthetical) (Detail) | 9 Months Ended |
Sep. 30, 2017USD ($) | |
Equity [Abstract] | |
Other comprehensive income loss, effective income tax rate | 38.00% |
Tax expense or benefit for currency translation adjustment | $ 0 |
Equity, Other Comprehensive I50
Equity, Other Comprehensive Income, and Accumulated Other Comprehensive Income - Additional Information (Detail) $ in Millions | Sep. 30, 2017USD ($) |
Equity [Abstract] | |
Amount of FSIRS existing AOCI losses expected to reclassified income in next twelve months | $ 2.1 |
Equity, Other Comprehensive I51
Equity, Other Comprehensive Income, and Accumulated Other Comprehensive Income - Rollforward of Accumulated Other Comprehensive Income (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Beginning Balance AOCI December 31, 2016, Defined Benefit Plans Before-Tax | $ (57,613) | |||||
Translation adjustments, Defined Benefit Plans Before-Tax | 0 | |||||
Other comprehensive income before reclassifications, Defined Benefit Plans Before-Tax | 0 | |||||
Amortization of prior service cost, Defined Benefit Plans Before-Tax | $ 333 | $ 333 | 1,001 | $ 1,001 | $ 1,335 | $ 1,335 |
Amortization of net actuarial loss, Defined Benefit Plans Before-Tax | 6,362 | 6,767 | 19,084 | 20,300 | 25,850 | 28,895 |
Regulatory adjustment, Defined Benefit Plans Before-Tax | (5,734) | (6,122) | (17,204) | (18,368) | (4,420) | (653) |
Net current period other comprehensive income (loss), Defined Benefit Plans Before-Tax | 961 | 978 | 2,881 | 2,933 | (5) | (942) |
Less: Translation adjustment attributable to redeemable noncontrolling interest, Defined Benefit Plans Before-Tax | 0 | |||||
Net current period other comprehensive income (loss) attributable to Southwest Gas Corporation, Defined Benefit Plans Before-Tax | 2,881 | |||||
Ending Balance AOCI September 30, 2017, Defined Benefit Plans Before-Tax | (54,732) | (54,732) | (54,732) | |||
Beginning Balance AOCI December 31, 2016, Defined Benefit Plans Tax (Expense) Benefit | 21,893 | |||||
Translation adjustments, Defined Benefit Plans Tax (Expense) Benefit | 0 | |||||
Other comprehensive income before reclassifications, Defined Benefit Plans Tax (Expense) Benefit | 0 | |||||
Amortization of prior service cost, Defined Benefit Plans Tax (Expense) Benefit | (126) | (126) | (380) | (380) | (507) | (507) |
Amortization of net actuarial loss, Defined Benefit Plans Tax (Expense) Benefit | (2,418) | (2,571) | (7,252) | (7,714) | (9,823) | (10,980) |
Regulatory adjustment, Defined Benefit Plans Tax (Expense) Benefit | 2,179 | 2,326 | 6,537 | 6,980 | 1,679 | 249 |
Pension plans other comprehensive income (loss), Tax (Expense) or Benefit | (365) | (371) | (1,095) | (1,114) | 1 | 359 |
Less: Translation adjustment attributable to redeemable noncontrolling interest, Defined Benefit Plans Tax (Expense) Benefit | 0 | |||||
Net current period other comprehensive income (loss) attributable to Southwest Gas Corporation, Defined Benefit Plans Tax (Expense) Benefit | (1,095) | |||||
Ending Balance AOCI September 30, 2017, Defined Benefit Plans Tax (Expense) Benefit | 20,798 | 20,798 | 20,798 | |||
Beginning Balance AOCI December 31, 2016, Defined Benefit Plans After-Tax | (35,720) | |||||
Translation adjustments, Defined Benefit Plans After-Tax | 0 | |||||
Other comprehensive income before reclassifications, Defined Benefit Plans After-Tax | 0 | |||||
Amortization of prior service cost, Defined Benefit Plans After-Tax | 207 | 207 | 621 | 621 | 828 | 828 |
Amortization of net actuarial (gain)/loss, Defined Benefit Plans After-Tax | 3,944 | 4,196 | 11,832 | 12,586 | 16,027 | 17,915 |
Regulatory adjustment, Defined Benefit Plans After-Tax | (10,667) | |||||
Net defined benefit pension plans | 596 | 607 | 1,786 | 1,819 | (4) | (583) |
Less: Translation adjustment attributable to redeemable noncontrolling interest, Defined Benefit Plans After-Tax | 0 | |||||
Net current period other comprehensive income (loss) attributable to Southwest Gas Corporation, Defined Benefit Plans After-Tax | 1,786 | |||||
Ending Balance AOCI September 30, 2017, Defined Benefit Plans After-Tax | (33,934) | (33,934) | (33,934) | |||
Beginning Balance AOCI December 31, 2016, FSIRS - Before-Tax | (15,999) | |||||
Translation adjustments, FSIRS - Before-Tax | 0 | |||||
Other comprehensive income before reclassifications, FSIRS - Before-Tax | 0 | |||||
FSIRS amounts reclassified from AOCI, FSIRS - Before-Tax | 835 | 835 | 2,507 | 2,508 | 3,344 | 3,344 |
Net current period other comprehensive income (loss), FSIRS - Before-Tax | 835 | 835 | 2,507 | 2,508 | 3,344 | 3,344 |
Less: Translation adjustment attributable to redeemable noncontrolling interest, FSIRS - Before-Tax | 0 | |||||
Net current period other comprehensive income (loss) attributable to Southwest Gas Corporation, FSIRS - Before-Tax | 2,507 | |||||
Ending Balance AOCI September 30, 2017, FSIRS - Before-Tax | (13,492) | (13,492) | (13,492) | |||
Beginning Balance AOCI December 31, 2016, FSIRS - Tax (Expense) Benefit | 6,080 | |||||
Translation adjustments, FSIRS - Tax (Expense) Benefit | 0 | |||||
Other comprehensive income before reclassifications, FSIRS - Tax (Expense) Benefit | 0 | |||||
FSIRS amounts reclassified from AOCI, FSIRS - Tax (Expense) Benefit | (317) | (317) | (953) | (952) | (1,271) | (1,271) |
Net current period other comprehensive income (loss), FSIRS - Tax (Expense) Benefit | (317) | (317) | (953) | (952) | (1,271) | (1,271) |
Less: Translation adjustment attributable to redeemable noncontrolling interest, FSIRS - Tax (Expense) Benefit | 0 | |||||
Net current period other comprehensive income (loss) attributable to Southwest Gas Corporation, FSIRS - Tax (Expense) Benefit | (953) | |||||
Ending Balance AOCI September 30, 2017, FSIRS - Tax (Expense) Benefit | 5,127 | 5,127 | 5,127 | |||
Beginning Balance AOCI December 31, 2016, FSIRS - After-Tax | (9,919) | |||||
Translation adjustments, FSIRS - After-Tax | 0 | |||||
Other comprehensive income before reclassifications | 0 | |||||
FSIRS amounts reclassified from AOCI, FSIRS - After-Tax | 518 | 518 | 1,554 | 1,556 | 2,073 | 2,073 |
Net current period other comprehensive income (loss) | 518 | 518 | 1,554 | 1,556 | 2,073 | 2,073 |
Less: Translation adjustment attributable to redeemable noncontrolling interest | 0 | |||||
Net current period other comprehensive income (loss) attributable to Southwest Gas Corporation, FSIRS - After-Tax | 1,554 | |||||
Ending Balance AOCI September 30, 2017, FSIRS - After-Tax | (8,365) | (8,365) | (8,365) | |||
Beginning Balance AOCI December 31, 2016, Foreign Currency Items Before-Tax | (2,369) | |||||
Translation adjustments, Foreign Currency Items Before-Tax | 1,012 | (238) | 1,861 | 614 | 1,408 | 233 |
Other comprehensive income before reclassifications | 1,012 | (238) | 1,861 | 614 | 1,408 | 233 |
FSIRS amounts reclassified from AOCI, Foreign Currency Items Before-Tax | 0 | |||||
Amortization of prior service cost, Foreign Currency Items Before-Tax | 0 | |||||
Amortization of net actuarial loss, Foreign Currency Items Before-Tax | 0 | |||||
Regulatory adjustment, Foreign Currency Items Before-Tax | 0 | |||||
Net current period other comprehensive income (loss) | 1,861 | |||||
Less: Translation adjustment attributable to redeemable noncontrolling interest, Foreign Currency Items Before-Tax | 11 | |||||
Net current period other comprehensive income (loss) attributable to Southwest Gas Holdings,Inc., Foreign Currency Items Before-Tax | 1,850 | |||||
Ending Balance AOCI September 30, 2017 | (519) | (519) | (519) | |||
Beginning Balance AOCI December 31, 2016, Foreign Currency items - Tax (Expense) Benefit | 0 | |||||
Translation adjustments, Foreign Currency items - Tax (Expense) Benefit | 0 | 0 | 0 | 0 | ||
Other comprehensive income before reclassifications, Foreign Currency items - Tax (Expense) Benefit | 0 | |||||
FSIRS amounts reclassified from AOCI, Foreign Currency items - Tax (Expense) Benefit | 0 | |||||
Amortization of prior service cost ,Foreign Currency items - Tax (Expense) Benefit | 0 | |||||
Amortization of net actuarial loss, Foreign Currency items - Tax (Expense) Benefit | 0 | |||||
Regulatory adjustment, Foreign Currency items - Tax (Expense) Benefit | 0 | |||||
Net current period other comprehensive income (loss), Foreign Currency items - Tax (Expense) Benefit | 0 | 0 | 0 | 0 | ||
Less: Translation adjustment attributable to redeemable noncontrolling interest, Foreign Currency items - Tax (Expense) Benefit | 0 | |||||
Net current period other comprehensive income (loss) attributable to Southwest Gas Holdings,Inc., Foreign Currency items - Tax (Expense) Benefit | 0 | 0 | 0 | 0 | 0 | 0 |
Ending Balance AOCI September 30, 2017, Foreign Currency items - Tax (Expense) Benefit | 0 | 0 | 0 | |||
Beginning Balance AOCI December 31, 2016, Foreign Currency items - After-Tax | (2,369) | |||||
Translation adjustments, Foreign Currency items - After-Tax | 1,012 | (238) | 1,861 | 614 | 1,408 | 233 |
Other comprehensive income before reclassifications, Foreign Currency items - After-Tax | 1,012 | (238) | 1,861 | 614 | 1,408 | 233 |
FSIRS amounts reclassified from AOCI, Foreign Currency items - After-Tax | 0 | |||||
Amortization of prior service cost, Foreign Currency items - After-Tax | 0 | |||||
Amortization of net actuarial loss, Foreign Currency items - After-Tax | 0 | |||||
Regulatory adjustment, Foreign Currency items - After-Tax | 0 | |||||
Net current period other comprehensive income (loss), Foreign Currency items - After-Tax | 1,861 | |||||
Less: Translation adjustment attributable to redeemable noncontrolling interest, Foreign Currency items - After-Tax | 11 | |||||
Net current period other comprehensive income (loss) attributable to Southwest Gas Holdings,Inc., Foreign Currency Items - After-Tax | 1,850 | |||||
Ending Balance AOCI September 30, 2017, Foreign Currency items - After-Tax | (519) | (519) | (519) | |||
Beginning Balance AOCI December 31, 2016, AOCI | (48,008) | |||||
Translation adjustments, AOCI | 1,861 | |||||
Other comprehensive income before reclassifications, AOCI | 1,861 | |||||
Amounts reclassified into net income | 518 | 518 | 1,554 | 1,556 | 2,073 | 2,073 |
Amortization of prior service cost, AOCI | 207 | 207 | 621 | 621 | 828 | 828 |
Amortization of net actuarial loss | 3,944 | 4,196 | 11,832 | 12,586 | 16,027 | 17,915 |
Regulatory adjustment, AOCI | (10,667) | |||||
Total other comprehensive income (loss), net of tax | 2,126 | 887 | 5,201 | 3,989 | 3,477 | 1,723 |
Less: Translation adjustment attributable to redeemable noncontrolling interest, AOCI | 11 | |||||
Net current period other comprehensive income (loss) attributable to Southwest Gas Corporation, AOCI | 5,190 | |||||
Ending Balance AOCI September 30, 2017 | (42,818) | (42,818) | (42,818) | |||
Southwest Gas Corporation [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Beginning Balance AOCI December 31, 2016, Defined Benefit Plans Before-Tax | (57,613) | |||||
Amortization of prior service cost, Defined Benefit Plans Before-Tax | 1,001 | |||||
Amortization of net actuarial loss, Defined Benefit Plans Before-Tax | 19,084 | |||||
Regulatory adjustment, Defined Benefit Plans Before-Tax | (17,204) | |||||
Net current period other comprehensive income (loss) attributable to Southwest Gas Corporation, Defined Benefit Plans Before-Tax | 2,881 | |||||
Ending Balance AOCI September 30, 2017, Defined Benefit Plans Before-Tax | (54,732) | (54,732) | (54,732) | |||
Beginning Balance AOCI December 31, 2016, Defined Benefit Plans Tax (Expense) Benefit | 21,893 | |||||
Amortization of prior service cost, Defined Benefit Plans Tax (Expense) Benefit | (380) | |||||
Amortization of net actuarial loss, Defined Benefit Plans Tax (Expense) Benefit | (7,252) | |||||
Regulatory adjustment, Defined Benefit Plans Tax (Expense) Benefit | 6,537 | |||||
Net current period other comprehensive income (loss) attributable to Southwest Gas Corporation, Defined Benefit Plans Tax (Expense) Benefit | (1,095) | |||||
Ending Balance AOCI September 30, 2017, Defined Benefit Plans Tax (Expense) Benefit | 20,798 | 20,798 | 20,798 | |||
Beginning Balance AOCI December 31, 2016, Defined Benefit Plans After-Tax | (35,720) | |||||
Amortization of prior service cost, Defined Benefit Plans After-Tax | 207 | 207 | 621 | 621 | 828 | 828 |
Amortization of net actuarial (gain)/loss, Defined Benefit Plans After-Tax | 3,944 | 4,196 | 11,832 | 12,586 | 16,027 | 17,915 |
Regulatory adjustment, Defined Benefit Plans After-Tax | (10,667) | |||||
Net defined benefit pension plans | 596 | 607 | 1,786 | 1,819 | (4) | (583) |
Net current period other comprehensive income (loss) attributable to Southwest Gas Corporation, Defined Benefit Plans After-Tax | 1,786 | |||||
Ending Balance AOCI September 30, 2017, Defined Benefit Plans After-Tax | (33,934) | (33,934) | (33,934) | |||
Beginning Balance AOCI December 31, 2016, FSIRS - Before-Tax | (15,999) | |||||
FSIRS amounts reclassified from AOCI, FSIRS - Before-Tax | 2,507 | |||||
Net current period other comprehensive income (loss) attributable to Southwest Gas Corporation, FSIRS - Before-Tax | 2,507 | |||||
Ending Balance AOCI September 30, 2017, FSIRS - Before-Tax | (13,492) | (13,492) | (13,492) | |||
Beginning Balance AOCI December 31, 2016, FSIRS - Tax (Expense) Benefit | 6,080 | |||||
FSIRS amounts reclassified from AOCI, FSIRS - Tax (Expense) Benefit | (953) | |||||
Net current period other comprehensive income (loss) attributable to Southwest Gas Corporation, FSIRS - Tax (Expense) Benefit | (953) | |||||
Ending Balance AOCI September 30, 2017, FSIRS - Tax (Expense) Benefit | 5,127 | 5,127 | 5,127 | |||
Beginning Balance AOCI December 31, 2016, FSIRS - After-Tax | (9,919) | |||||
FSIRS amounts reclassified from AOCI, FSIRS - After-Tax | 518 | 518 | 1,554 | 1,556 | 2,073 | 2,073 |
Net current period other comprehensive income (loss) | 518 | 518 | 1,554 | 1,556 | 2,073 | 2,073 |
Net current period other comprehensive income (loss) attributable to Southwest Gas Corporation, FSIRS - After-Tax | 1,554 | |||||
Ending Balance AOCI September 30, 2017, FSIRS - After-Tax | (8,365) | (8,365) | (8,365) | |||
Beginning Balance AOCI December 31, 2016, AOCI | (45,639) | |||||
Amounts reclassified into net income | 518 | 518 | 1,554 | 1,556 | 2,073 | 2,073 |
Amortization of prior service cost, AOCI | 207 | 207 | 621 | 621 | 828 | 828 |
Amortization of net actuarial loss | 3,944 | 4,196 | 11,832 | 12,586 | 16,027 | 17,915 |
Regulatory adjustment, AOCI | (10,667) | |||||
Total other comprehensive income (loss), net of tax | 1,114 | $ 1,125 | 3,340 | $ 3,375 | 2,069 | $ 1,490 |
Net current period other comprehensive income (loss) attributable to Southwest Gas Corporation, AOCI | 3,340 | |||||
Ending Balance AOCI September 30, 2017 | $ (42,299) | $ (42,299) | $ (42,299) |
Equity, Other Comprehensive I52
Equity, Other Comprehensive Income, and Accumulated Other Comprehensive Income - Rollforward of Accumulated Other Comprehensive Income (Parenthetical) (Detail) | 9 Months Ended |
Sep. 30, 2017 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |
Other comprehensive income loss, effective income tax rate | 38.00% |
Southwest Gas Corporation [Member] | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |
Other comprehensive income loss, effective income tax rate | 38.00% |
Equity, Other Comprehensive I53
Equity, Other Comprehensive Income, and Accumulated Other Comprehensive Income - Amount Recognized Before Income Tax Associated with Defined Benefit Plans in Accumulated Other Comprehensive Income (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Recognized in AOCI | $ (54,732) | $ (57,613) |
Defined Benefit Plans [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Net actuarial (loss) gain | (411,889) | (430,973) |
Prior service cost | (4,702) | (5,703) |
Less: amount recognized in regulatory assets | 361,859 | 379,063 |
Recognized in AOCI | $ (54,732) | $ (57,613) |
Construction Services Redeema54
Construction Services Redeemable Noncontrolling Interest - Additional Information (Detail) - Previous Owners [Member] - USD ($) $ in Millions | 1 Months Ended | 9 Months Ended |
Aug. 31, 2017 | Sep. 30, 2017 | |
Noncontrolling Interest [Line Items] | ||
Purchase price of the previous owners' equity interest in Centuri | $ 23 | |
Link-Line and WS Nicholls [Member] | ||
Noncontrolling Interest [Line Items] | ||
Description of equity interest | In conjunction with the acquisition of the Canadian construction businesses in October 2014, the previous owners of the acquired companies retained a 3.4% equity interest in Centuri, which, subject to an eligibility timeline, would have been redeemable at the election of the noncontrolling parties (in its entirety) beginning in July 2022. In August 2017, in advance of when otherwise eligible, the parties agreed to a current redemption. Southwest Gas Holdings, Inc. paid $23 million to the previous owners, thereby acquiring the remaining 3.4% equity interest in Centuri in accordance with an early redemption agreement. Accordingly, Centuri is now a wholly owned subsidiary of the Company. | |
Link-Line and WS Nicholls [Member] | Construction Services [Member] | ||
Noncontrolling Interest [Line Items] | ||
Percentage of earnings attribution by Centuri to previous owners | 3.40% |
Construction Services Redeema55
Construction Services Redeemable Noncontrolling Interest - Summary of Redeemable Noncontrolling Interest (Detail) $ in Thousands | 9 Months Ended |
Sep. 30, 2017USD ($) | |
Redeemable Noncontrolling Interest [Line Items] | |
Balance | $ 22,590 |
Adjustment to redemption value | (355) |
Redeemable Noncontrolling Interest (Temporary Equity) [Member] | |
Redeemable Noncontrolling Interest [Line Items] | |
Balance | 22,590 |
Net income attributable to redeemable noncontrolling interest | 248 |
Foreign currency exchange translation adjustment | 11 |
Centuri dividend to redeemable noncontrolling interest | (204) |
Adjustment to redemption value | 355 |
Redemption of Centuri shares from noncontrolling parties | (23,000) |
Balance | $ 0 |
Reorganization Impacts - Disc56
Reorganization Impacts - Discontinued Operations Solely Related to Southwest Gas Corporation - Summary of Assets and Liabilities within Amounts Reported as Discontinued Operations - Construction Services in Condensed Consolidated Balance Sheet (Detail) - Construction Services [Member] - Southwest Gas Corporation [Member] $ in Thousands | Dec. 31, 2016USD ($) |
Assets: | |
Other property and investments | $ 233,774 |
Cash and cash equivalents | 9,042 |
Accounts receivable, net of allowances | 173,300 |
Prepaids and other current assets | 10,470 |
Goodwill | 129,888 |
Other noncurrent assets | 22,897 |
Discontinued operations - construction services - assets | 579,371 |
Liabilities: | |
Current maturities of long-term debt | 25,101 |
Accounts payable | 46,440 |
Other current liabilities | 74,518 |
Long-term debt, less current maturities | 174,903 |
Deferred income taxes and other deferred credits | 59,653 |
Discontinued operations-construction services-liabilities | $ 380,615 |
Reorganization Impacts - Disc57
Reorganization Impacts - Discontinued Operations Solely Related to Southwest Gas Corporation - Components of Discontinued Operations - Construction Services Non-Owner Equity Amount in Condensed Consolidated Balance Sheet (Detail) - Southwest Gas Corporation [Member] $ in Thousands | Dec. 31, 2016USD ($) |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Discontinued operations - construction services non-owner equity | $ 15,983 |
Construction Services [Member] | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Construction services equity | (4,390) |
Construction services noncontrolling interest | (2,217) |
Construction services redeemable noncontrolling interest | 22,590 |
Discontinued operations - construction services non-owner equity | $ 15,983 |
Reorganization Impacts - Disc58
Reorganization Impacts - Discontinued Operations Solely Related to Southwest Gas Corporation - Summary of Income Statement Components of Discontinued Operations - Construction Services in Condensed Consolidated Income Statements (Detail) - Southwest Gas Corporation [Member] - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Operating expenses: | ||||
Income before income taxes | $ 24,020 | $ 31,867 | $ 21,649 | $ 54,934 |
Income tax expense | 8,708 | 12,042 | 7,842 | 20,711 |
Net income | 15,312 | 19,825 | 13,807 | 34,223 |
Net income attributable to noncontrolling interests | 435 | 500 | 514 | 1,079 |
Discontinued operations - construction services - net income | 14,877 | 19,325 | 13,293 | 33,144 |
Construction Services [Member] | ||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||
Construction revenues | 339,790 | 838,038 | 301,040 | 1,127,982 |
Operating expenses: | ||||
Construction expenses | 300,611 | 757,919 | 266,504 | 1,009,188 |
Depreciation and amortization | 13,409 | 43,351 | 12,318 | 58,368 |
Operating income | 25,770 | 36,768 | 22,218 | 60,426 |
Other income (deductions) | 44 | 44 | 1,149 | 1,246 |
Net interest deductions | 1,794 | 4,945 | 1,718 | 6,738 |
Income before income taxes | 24,020 | 31,867 | 21,649 | 54,934 |
Income tax expense | 8,708 | 12,042 | 7,842 | 20,711 |
Net income | 15,312 | 19,825 | 13,807 | 34,223 |
Net income attributable to noncontrolling interests | 435 | 500 | 514 | 1,079 |
Discontinued operations - construction services - net income | $ 14,877 | $ 19,325 | $ 13,293 | $ 33,144 |