20250530Nygard Exhibit 2 - Cap Structure.pdf

Preston N. Carter, ISB No. 8462
Megann E. Meier, ISB No. 11948
GIVENS PURSLEY LLP
601 West Bannock Street
P.O. Box 2720
Boise, Idaho 83701-2720
Office: [phone]
Fax: [phone]
[e-mail]
[e-mail]
Attorneys for Intermountain Gas Company
BEFORE THE IDAHO PUBLIC UTILITIES COMMISSION
IN THE MATTER OF THE APPLICATION Case No. INT-G-25-02
OF INTERMOUNTAIN GAS COMPANY
FOR THE AUTHORITY TO INCREASE
ITS RATES AND CHARGES FOR
NATURAL GAS SERVICE IN THE STATE
OF IDAHO
EXHIBIT 2 TO ACCOMPANY THE
DIRECT TESTIMONY OF TAMMY NYGARD

INTERMOUNTAIN GAS COMPANY
AVERAGE UTILITY CAPITAL STRUCTURE
TWELVE MONTHS ENDING DECEMBER 31, 2024
PROJECTED 2025
Required
Balance Ratio Cost Return
Per Books 2024
Long-Term Debt 1/ $195,000,000 49.683% 4.476% 2.22%
Common Equity 3/ 197,488,000 50.317% 10.800% 5.43%
Total $392,488,000 100.000% 7.65%
Projected 2025
Long-Term Debt 2/ $220,000,000 49.582% 4.918% 2.44%
Common Equity 3/ 223,708,000 50.418% 10.800% 5.45%
Total $443,708,000 100.000% 7.89%
Proposed Capital Structure
Long-Term Debt 50.000% 4.918% 2.46%
Common Equity 50.000% 10.800% 5.40%
Total 100.000% 7.86%
Case No.INT-G-25-02
T.Nygard,IGC
Exhibit No. 2
Page 1 of 4

INTERMOUNTAIN GAS COMPANY
LONG-TERM DEBT CAPITAL
DECEMBER 31, 2024
Principal
Date of Interest Amount Annual Interest
Description Maturity Rate of Issue Expense
Unsecured Long-Term Debt
4.08% - Senior Note 10/30/25 4.080% $25,000,000 $1,020,000
4.33% - Senior Note 10/30/28 4.330% 25,000,000 1,082,500
4.00% - Senior Note 11/09/46 4.000% 30,000,000 1,200,000
3.62% - Senior Note 06/13/29 3.620% 20,000,000 724,000
3.82% - Senior Note 06/13/34 3.820% 10,000,000 382,000
4.26% - Senior Note 06/13/49 4.260% 20,000,000 852,000
4.60% - Senior Note 06/15/52 4.600% 20,000,000 920,000
4.75% - Senior Note 06/15/62 4.750% 20,000,000 950,000
6.19% - Senior Note 11/30/33 6.190% 25,000,000 1,547,500
Debt Amortization 50,585
Total Long-Term Debt Capital $195,000,000 $8,728,585 4.476%
Case No.INT-G-25-02
T.Nygard,IGC
Exhibit No. 2
Page 2 of 4

INTERMOUNTAIN GAS COMPANY
LONG-TERM DEBT CAPITAL
PROJECTED DECEMBER 31, 2025
Principal
Date of Interest Amount Annual Interest
Description Maturity Rate of Issue Expense
Unsecured Long-Term Debt
4.33% - Senior Note 10/30/28 4.330% 25,000,000 1,082,500
4.00% - Senior Note 11/09/46 4.000% 30,000,000 1,200,000
3.62% - Senior Note 06/13/29 3.620% 20,000,000 724,000
3.82% - Senior Note 06/13/34 3.820% 10,000,000 382,000
4.26% - Senior Note 06/13/49 4.260% 20,000,000 852,000
4.60% - Senior Note 06/15/52 4.600% 20,000,000 920,000
4.75% - Senior Note 06/15/62 4.750% 20,000,000 950,000
6.19% - Senior Note 11/30/33 6.190% 25,000,000 1,547,500
6.22% - Senior Note 06/30/55 6.220% 50,000,000 3,110,000
Debt Amortization 50,548
Total Long-Term Debt Capital $220,000,000 $10,818,548 4.918%
Case No.INT-G-25-02
T.Nygard,IGC
Exhibit No. 2
Page 3 of 4

INTERMOUNTAIN GAS COMPANY
AVERAGE UTILITY COMMON EQUITY
TWELVE MONTHS ENDING DECEMBER 31, 2024
PROJECTED 2025
Description Amount
Common Equity- 12/31/2024 $197,488,000
Common Equity- 12/31/2025 $223,708,000
Case No.INT-G-25-02
T.Nygard,IGC
Exhibit No. 2
Page 4 of 4