NiSource Inc
Statements
Segments
US companies must disclose in their mandatory reports how revenue breaks down across business segments, regions and product lines. We read that breakdown for you straight from the annual and quarterly reports (10-K and 10-Q) of NiSource Inc (NI). It shows which part of the business is growing — and which one is holding it back.
Revenue by business segment
| Segment | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Columbia Operations | – | – | $2.95B 51.4% | $2.66B 49.8% · -9.7% | $2.63B 49.8% · -1.2% | $3.32B 51.0% · +26.5% |
| NIPSCO Operations | – | – | $2.79B 48.6% | $2.69B 50.2% · -3.7% | $2.65B 50.2% · -1.2% | $3.20B 49.0% · +20.5% |
| Corporate and Other | $800.0K 0.0% | $800.0K 0.0% · +0.0% | $0 0.0% · -100.0% | $0 0.0% | $0 0.0% | $0 0.0% |
| Gas Distribution Operations | $3.03B 67.8% | $3.13B 66.1% · +3.1% | – | – | – | – |
| Electric Operations | $1.44B 32.2% | $1.60B 33.9% · +11.4% | – | – | – | – |
Large figure: segment revenue. Below it the share of revenue in that period and the change against the prior year.
| Segment | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Columbia Operations | – | – | – | – | – | – |
| NIPSCO Operations | – | – | – | – | – | – |
| Corporate and Other | $2.9M 362.5% | $1.6M 200.0% | – | – | – | – |
| Gas Distribution Operations | $199.1M 6.6% | $617.5M 19.8% | – | – | – | – |
| Electric Operations | $348.8M 24.2% | $387.8M 24.2% | – | – | – | – |
Large figure: segment operating income. Below it the margin, that is operating income measured against the revenue of the same segment.
Segment and region names are the ones the company itself uses and are shown as reported. Change and share refer to revenue.
Data as of: August 10, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q) · Segment figures: SEC EDGAR (10-K/10-Q reports)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.