NI: 10-K Risk Factor Changes

2026 vs 2025  ·  SEC EDGAR  ·  2026-06-01
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Classification is based on semantic text similarity scoring and may include approximations. “No match” means no high-confidence textual match was found — not necessarily that a section was removed.

24
New Risks
8
Removed
26
Modified
14
Unchanged
🟢 New in Current Filing

Risk Factors Summary

The following is a summary of material risks that could adversely affect our business, financial condition, results of operations, cash flows, and the market price of our common stock.

🟢 New in Current Filing OPERATIONAL RISKS 🔒
🟢 New in Current Filing FINANCIAL, ECONOMIC AND MARKET RISKS 🔒
🟢 New in Current Filing LITIGATION, REGULATORY AND LEGISLATIVE RISKS 🔒
🟢 New in Current Filing DATA CENTER OPERATIONS AND STRATEGY RISKS 🔒
🟢 New in Current Filing NISOURCE INC. 🔒
🟢 New in Current Filing NISOURCE INC. 🔒
🟢 New in Current Filing NISOURCE INC. 🔒
🟢 New in Current Filing NISOURCE INC. 🔒
🟢 New in Current Filing NISOURCE INC. 🔒
🟢 New in Current Filing NISOURCE INC. 🔒
🟢 New in Current Filing NISOURCE INC. 🔒
🟢 New in Current Filing NISOURCE INC. 🔒
🟢 New in Current Filing A drop in our credit ratings could adversely impact our cash flows, results of operation, financial condition and liquidity. 🔒
🟢 New in Current Filing NISOURCE INC. 🔒
🟢 New in Current Filing NISOURCE INC. 🔒
🟢 New in Current Filing Our construction of the Contract Assets and any generation or transmission assets we develop to support future data center contracts involves significant risks. Construction delays, cost overruns or performance issues with the Contract Assets could reduce our returns under the ADS Contract or other future data center contracts and could require us to obtain additional financing. 🔒
🟢 New in Current Filing We will be required to obtain significant additional financing in order to construct the Contract Assets and any generation or transmission assets we develop to support future data center contracts. Such financing may not be available on favorable terms, if at all. 🔒
🟢 New in Current Filing NISOURCE INC. 🔒
🟢 New in Current Filing Pursuit of our partnership with ADS creates significant opportunity costs and reduces our strategic and financial flexibility in the near term. 🔒
🟢 New in Current Filing The return structure and risk profile of ADS Contract and any future data center contract will differ from those of NIPSCO’s traditionally regulated utility operations. 🔒
🟢 New in Current Filing NISOURCE INC. 🔒
🟢 New in Current Filing Our partnership with ADS exposes us to significant customer concentration risk. 🔒
🟢 New in Current Filing NISOURCE INC. 🔒
🔴 No Match in Current Filing NISOURCE INC. 🔒
🔴 No Match in Current Filing NISOURCE INC. 🔒
🔴 No Match in Current Filing NISOURCE INC. 🔒
🔴 No Match in Current Filing A cyber-attack or security breach on any of our or certain third-party technology systems, including but not limited to information systems, infrastructure, software and hardware, upon which we rely may adversely affect our ability to operate, could lead to a loss or misuse of confidential and proprietary information, or potential liability. 🔒
🔴 No Match in Current Filing NISOURCE INC. 🔒
🔴 No Match in Current Filing NISOURCE INC. 🔒
🔴 No Match in Current Filing NISOURCE INC. 🔒
🔴 No Match in Current Filing NISOURCE INC. 🔒
🟡 Modified Most of our revenues are subject to regulation and are exposed to the impact of regulatory rate reviews and proceedings. 🔒
🟡 Modified We currently conduct and may conduct in the future certain operations through a JV arrangement involving third- party investors that may result in operational impasses or litigation, including business delays as a result of such arrangements. 🔒
🟡 Modified Adverse economic and market conditions, including increases in inflation or interest rates, recession or changes in investor sentiment could materially and adversely affect our business, results of operations, cash flows, financial condition and liquidity. 🔒
🟡 Modified Our businesses are regulated under numerous environmental laws and regulations. The cost of compliance with these laws and regulations, and changes to or additions to, or reinterpretations of the laws and regulations, could be significant, and the cost of compliance may not be recoverable. Liability from the failure to comply with existing or changed laws and regulations could have a material adverse effect on our business, results of operations, cash flows and financial condition. 🔒
🟡 Modified If we cannot effectively manage new initiatives and organizational changes, we will be unable to address the opportunities and challenges presented by our strategy and the business and regulatory environment. 🔒
🟡 Modified We outsource certain business functions to third-party suppliers and service providers, and may be impacted by substandard performance or quality by third parties. 🔒
🟡 Modified Data center growth in our service territories, including a focus on northern Indiana, while providing growth opportunities that enhance our business strategy, provide significant financial, operational, and regulatory risks that must be effectively managed. 🔒
🟡 Modified The actions of regulators and legislators could result in outcomes that may adversely affect our earnings and liquidity. 🔒
🟡 Modified Aspects of the implementation of our electric generation strategy, including the timing of the retirement of our coal generation units or the addition of new generation resources, may be delayed and may not achieve intended results. 🔒
🟡 Modified Aging infrastructure may lead to disruptions in operations and increased capital expenditures and maintenance costs. 🔒
🟡 Modified Capital market performance and other factors may decrease the value of benefit plan assets, which then could require significant additional funding and impact earnings. 🔒
🟡 Modified We have significant goodwill. Any future impairments of goodwill could result in a significant charge to earnings in a future period and negatively impact our compliance with certain covenants under financing agreements. 🔒
🟡 Modified Our distribution, transmission and generation activities involve a variety of inherent hazards and operating risks, including potential public safety risks. 🔒
🟡 Modified Failure to attract, retain or re-skill an appropriately qualified workforce, and maintain good labor relations, could adversely impact safety, service reliability, and customer satisfaction. 🔒
🟡 Modified Our capital projects and programs subject us to construction and supply risks, and are subject to regulatory oversight, including requirements for permits, approvals and certificates from various governmental agencies. 🔒
🟡 Modified The impacts of natural disasters, acts of terrorism, acts of war, civil unrest, accidents, public health emergencies or other catastrophic events may disrupt operations and reduce the ability to service customers. 🔒
🟡 Modified A cyber-attack or security breach on any of our or certain third-party technology systems, including but not limited to information systems, infrastructure, software and hardware, upon which we rely may adversely affect our ability to operate, could lead to a loss or misuse of confidential and proprietary information, or potential liability. 🔒
🟡 Modified We are subject to operational and financial risks and liabilities associated with the implementation and efforts to achieve our carbon emission reduction goal. 🔒
🟡 Modified NISOURCE INC. 🔒
🟡 Modified NISOURCE INC. 🔒
🟡 Modified We may not be able to execute our business plan or growth strategy, including utility infrastructure investments, or business opportunities. 🔒
🟡 Modified NISOURCE INC. 🔒
🟡 Modified NISOURCE INC. 🔒
🟡 Modified We have substantial indebtedness which could adversely affect our financial condition. 🔒
🟡 Modified The physical impacts of climate change and the transition to a lower carbon future are impacting our business and could materially adversely affect our results of operations. 🔒
🟡 Modified NISOURCE INC. 🔒
57 more changes in this filing

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