Atmos Energy 2014 Annual Report Download

Download and view the complete annual report

Please find the complete 2014 Atmos Energy annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 36

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36

Investing
for Safety
Atmos Energy Corporation 2014 Summary Annual Report

Table of contents

  • Page 1
    Atmos Energy Corporation 2014 Summary Annual Report Investing for Safety

  • Page 2

  • Page 3
    ... fiscal 2014, Atmos Energy replaced nearly 475 miles of natural gas pipelines. Near Hopkinsville, Kentucky, the Kentucky/Mid-States Division installed 5.5 miles of coated steel pipe as the final phase of a multi-year project to replace some 25 miles of aging bare steel pipeline. The line brings gas...

  • Page 4
    ... Flow Lab at Atmos Energy's Charles K. Vaughan Center in Plano, Texas, construction operators Jason Gilson and Stephen Ancira learn about remote control shut-off valves from Fred Beversdorf, manager of technical training. Shut-off valves increase the safety on our transmission pipelines and larger...

  • Page 5
    ... ways: > In 2010, Atmos Energy opened the Charles K. Vaughan Center, the finest technical training facility in the natural gas distribution industry. > The company's training instructors are all seasoned experts with many years of operating experience. > Its service technicians and construction...

  • Page 6
    Atmos Energy has already removed all cast iron pipelines from its system in seven states. As part of our comprehensive pipeline infrastructure program, we will replace all remaining cast iron pipe. Pipelines transport natural gas to more than "Realizing our goal to be the nation's safest gas ...

  • Page 7

  • Page 8

  • Page 9
    ... in the Mid-Tex Division should increase by one-third, from about 60 miles in fiscal 2014 to about 80 miles in fiscal 2015. Today, natural gas utilities spend more than $ 19 BILLION annually to help enhance the safety of natural gas delivery systems. FISCAL 2015 PROJECTED PIPELINE REPLACEMENTS...

  • Page 10
    ...1,000 MILES Atmos Energy inspected about 800 miles of pipelines in fiscal 2014 to ensure their fitness for service as part of our ongoing integrity management programs. Near Manor, Texas, Project Engineer Tatiana Perry discusses with a contractor preparations for a hydrostatic pressure test of a 30...

  • Page 11
    9

  • Page 12

  • Page 13
    ...the nation's natural gas pipeline systems." ATMOS ENERGY: INVESTING FOR SAFETY Regulators are approving alternative recovery mechanisms for natural gas infrastructure to foster other public policies, too, such as environmental improvement, energy efficiency and economic development. New or improved...

  • Page 14
    ... of the state's Atmos Energy's pipeline supplying gas to the new Yokohama Tire natural gas infrastructure to attract Company plant at West Point, Mississippi. Now in the first phase of a industrial investment and to promote four-phase expansion program, the complex eventually will employ economic...

  • Page 15

  • Page 16

  • Page 17
    ... to 2008, weekly savings, new jobs and economic development. spot prices had fluctuated from a low of about $4.50 For Atmos Energy, our reasons to modernize to as much as $14.50 per Mcf. The U.S. Department and expand our core infrastructure encompass all of of Energy forecasts spot prices will stay...

  • Page 18

  • Page 19
    ..., Bob Best, built one of the largest and best-managed natural gas utility systems in the United States. Atmos Energy not only has remained independent, but also has prospered beyond all expectations. It has expanded into many states, and its regulated distribution and pipeline operations have...

  • Page 20
    ...cents a share. The indicated dividend for fiscal 2015 is $1.56 a share. This marked our 31st consecutive annual dividend increase. More than 75 percent of our capital expenditures in fiscal 2014 were dedicated to safety and reliability. Atmos Energy's total regulated rate base grew by $578.0 million...

  • Page 21
    ... power plants and industrial facilities. Higher natural gas consumption during fiscal 2014 also created more volatility in wholesale gas prices. Our nonregulated segment was able to take great advantage of the market opportunities caused by the wider spreads in gas prices. Atmos Energy Marketing...

  • Page 22

  • Page 23
    ... between 8 a.m. and 5 p.m. Central time. Our Annual Report on Form 10-K also is available on Atmos Energy's website at www.atmosenergy.com. Additional investor information is presented on pages 31 and 32 of this report. Natural gas pipeline operators are benefiting from significant improvements in...

  • Page 24
    Atmos Energy at a Glance Year Ended September 30 2014 2013 Meters in service Residential Commercial Industrial Public authority and other Total ... revenues Other gas revenues Total regulated distribution revenues Regulated pipeline revenues Nonregulated revenues Total operating revenues (000s...

  • Page 25
    ..., less allowance for doubtful accounts of $23,992 in 2014 and $20,624 in 2013 Gas stored underground Other current assets Total current assets Goodwill Deferred charges and other assets Capitalization and Liabilities Shareholders' equity Common stock, no par value (stated at $.005 per share...

  • Page 26
    ...of Income Year Ended September 30 - Dollars in thousands, except per share data 2014 2013 2012 Operating revenues Regulated distribution segment Regulated pipeline segment Nonregulated segment Intersegment eliminations Purchased gas cost $ 3,061,546 318,459 2,067,292 (506,381) 4,940,916 1,885...

  • Page 27
    Condensed Consolidated Statements of Cash Flows Year Ended September 30 - Dollars in thousands 2014 2013 2012 Cash Flows from Operating Activities Net income Adjustments to reconcile net income to net cash provided by operating activities: $ 289,817 $ 243,194 $ 216,717 Asset impairments ...

  • Page 28
    ...Accounting Oversight Board (United States), the effectiveness of Atmos Energy Corporation's internal control over financial reporting as of September 30, 2014... report dated November 6, 2014 (not presented separately herein) expressed an unqualified opinion thereon. Dallas, Texas November 6, 2014 ...

  • Page 29
    ... distribution throughput (MMcf) Consolidated regulated pipeline transportation volumes (MMcf) Consolidated nonregulated delivered gas sales volumes (MMcf) Meters in service at end of year Regulated distribution average cost of gas per Mcf sold Regulated distribution average transportation fee...

  • Page 30
    ... Officer President, Kentucky/Mid-States Division Bret J. Eckert Richard A. Erskine Senior Vice President and Chief Financial Officer President, Atmos Pipeline-Texas Division Louis P. Gregory David E. Gates Senior Vice President, General Counsel and Corporate Secretary President, Mississippi...

  • Page 31
    ..., Atmos Energy Holdings, Inc. Vice President, Strategic Planning Kenneth M. Malter Vice President, Gas Supply and Services Shared Services Verlon R. Aston, Jr. John S. McDill Vice President, Governmental and Public Affairs Vice President, Pipeline Safety Clay C. Cash Edward Pace McDonald...

  • Page 32
    ...and Corporate Governance Richard A. Sampson Stephen R. Springer Richard Ware II Charles K. Vaughan General Partner and Founder, RS Core Capital, LLC Denver, Colorado Board member since 2012 Committees: Audit, Human Resources Retired Senior Vice President and General Manager, Midstream Division...

  • Page 33
    ...Charles K. Vaughan Center, 3697 Mapleshade Lane, Plano, Texas 75075 on Wednesday, February 4, 2015, at 9:00 a.m. Central time. Direct Stock Purchase Plan American Stock Transfer & Trust Company, LLC Operations Center 6201 15th Avenue Brooklyn, New York 11219 800-543-3038 To inquire about your Atmos...

  • Page 34
    ... artery, Atmos Energy's Line DT-3. This 24-inch pipeline transports natural gas for thousands of homes and businesses in the Dallas central business district, the I-35 corridor, Irving, Las Colinas, Arlington, Grand Prairie and the Mid-Cities. It also provides essential pressure control for...

  • Page 35

  • Page 36
    Atmos Energy Corporation P.O. Box 650205 Dallas, Texas 75265-0205 atmosenergy.com