Atmos Energy 2015 Annual Report Download - page 14

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An Attractive Investment
•Competitvetotalshareholderreturnof9% to 11%
•6% to 8% forecasted EPS growth through fiscal 2020; attractive dividend yield
•About95% of earnings are regulated and rate base driven
•Regulateddistributionassetsin8 states serving more than 3 million customers
•Favorably positioned regulated pipeline spans Texas shale-gas supply basins
•Constructiveratemechanismsreduce or eliminate regulatory lag
•Strongforecastedregulatedrate-base growth through fiscal 2020
•Annualregulatedcapitalexpendituresbetween$1.0 billion and $1.4 billion
through fiscal 2020; more than 80% to be spent on safety and reliability
• Earningonmorethan90% of annual capital within 6 months; 96% within 12 months
•13 consecutive years of EPS growth; 32 consecutive years of dividend growth
•7.7% increase in indicated dividend for fiscal 2016
•High investment-grade credit ratings (A-, A2, A) with ample liquidity
Financial Highlights
Year Ended September 30 — Dollars in thousands, except per share data 2015 2014 Change
Operating revenues $ 4,142,136 $ 4,940,916 (16.2)%
Gross profit $ 1,680,017 $ 1,582,426 6.2%
Regulated distribution net income $ 204,813 $ 171,585 19.4%
Regulated pipeline net income 94,662 86,191 9.8%
Nonregulated net income 15,600 32,041 (51.3)%
Total $ 315,075 $ 289,817 8.7%
Total assets $ 9,092,945 $ 8,594,704 5.8%
Total capitalization* $ 5,650,185 $ 5,542,218 1.9%
Net income per share — diluted $ 3.09 $ 2.96 4.4%
Cash dividends per share $ 1.56 $ 1.48 5.4%
Book value per share at end of year $ 31.48 $ 30.74 2.4%
Consolidated regulated distribution throughput (MMcf) 429,322 451,803 (5.0)%
Consolidated regulated pipeline transportation volumes (MMcf) 528,068 493,360 7.0%
Consolidated nonregulated delivered gas sales volumes (MMcf) 351,427 377,441 6.9%
Meters in service at end of year 3,151,312 3,115,069 1.2%
Return on average shareholders’ equity 10.0% 9.9% 1.0%
Shareholders’ equity as a percentage of total capitalization
(including short-term debt) at end of year 52.3% 53.8% (2.8)%
Shareholders of record 14,940 15,807 (5.5)%
Weighted average shares outstanding — diluted (000s) 101,892 97,608 4.4%
*Total capitalization represents the sum of shareholders’ equity and long-term debt, excluding current maturities.
Summary Annual Report
The financial information presented in this report about Atmos Energy Corporation is condensed. Our
complete financial statements, including notes as well as management’s discussion and analysis of our
financial condition and results of operations, are presented in our Annual Report on Form 10-K. Atmos
Energy’s chief executive officer and its chief financial officer have executed all certifications with respect to
the financial statements contained therein and have completed management’s report on internal control
over financial reporting, which are required under the Sarbanes-Oxley Act of 2002 and related rules and
regulations of the Securities and Exchange Commission. Investors may request, without charge, our Annual
Report on Form 10-K for the fiscal year ended September 30, 2015, by calling Investor Relations at
972-855-3729 between 8 a.m. and 5 p.m. Central time. Our Annual Report on Form 10-K also is avail-
able on Atmos Energy’s website at www.atmosenergy.com. Additional investor information is presented
on pages 35 and 36 of this report.
Atmos Energy’s High-Growth Natural Gas Delivery Investment Proposition
One of the largest
all-natural-gas
distributors in the U.S.
Diversified asset
base with constructive
rate regulation
Strong rate base
growth and minimal
regulatory lag
Solid financial
foundation with consistent
performance