NI — what changed in the latest 10-Q
A section-by-section comparison of NI's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-10-28 vs the prior 10-Q · 2026-08-05
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +57 | −48 | ~31 | 60 |
| Market risk (Item 3) | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Controls & procedures | Text added/removed | 0 | 0 | ~1 | 1 |
| Legal proceedings | Text added/removed | 0 | 0 | ~1 | 0 |
| Risk factors | Some risk factors updated | +32 | −1 | 0 | 0 |
| Other information | Text added/removed | +1 | −4 | 0 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-10-28
In October 2026, NIPSCO entered into an agreement with Microsoft, which will be submitted to the IURC for approval, under which NIPSCO will provide capacity and electricity services to Microsoft’s data center facility to be located in NIPSCO’s service territory pursuant to a capacity commitment begi…
certain termination payments that we believe will be sufficient to reimburse us for our investment costs, and NIPSCO has certain obligations to mitigate.
The customer’s electricity supply under the Microsoft Contract will be provided through Pool Resource Assets. See “Data Center Strategy & Pool Resource Assets” below for additional information on our Pool Resource Assets model. NIPSCO will construct transmission infrastructure to connect Microsoft f…
GenCo continues to advance development of its new CCGT facility to support the ADS Contract. During the period, key project milestones included receipt of major permits, issuance of Full Notice to Proceed to our EPC contractor, continued engineering and procurement activities, and commencement of si…
GenCo is also advancing the development of a combined 400 MW and 100 MW BESS installation. Engineering, procurement, and construction activities are progressing, with project mobilization completed and on-site work underway. Current activities include site preparation, roadway improvements, and othe…
Text removed vs the prior filing · source: 10-Q · 2026-08-05
GenCo continues to advance development of its new combined‑cycle natural gas‑fired generation facility to support the ADS Contract. During the period, the EPC contractor progressed engineering, procurement, and planning activities in support of construction beginning in the third quarter of 2026, in…
GenCo is also advancing the development of a combined 400 MW and 100 MW BESS installation. The battery equipment supply contract was awarded in February 2026, and the EPC contractor continues engineering, procurement, and planning activities to support the anticipated start of on-site construction i…
We evaluate potential transactions with Pool Resource Asset customers in the context of existing demand and resources within the pool in order to promote a sustainable alignment between committed customer demand within the pool and capacity available from Pool Resource Assets. For additional informa…
NIPSCO's 2024 Plan was submitted to the IURC on December 9, 2024. The 2024 Plan maintains the retirement decisions and capacity additions identified in the 2018 and 2021 Integrated Resource Plans and calls for additional generation resources through 2029 to support capacity requirements. The 2024 Pl…
We continue to enhance safety and reduce methane emissions on our gas systems through modernization programs and utilization of advanced leak detection and repair. In addition, we plan to advance other low- or zero-emission energy resources and technologies, such as hydrogen and renewable natural ga…
Risk factors
Text added vs the prior filing · source: 10-Q · 2026-10-28
Please refer to the risk factors set forth in Part I, Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2025 (the “2025 Form 10-K”). Other than as set forth below, there have been no material changes to such risk factors. In connection with the additional data center contract…
Data center growth in our service territories, including a focus on northern Indiana, while providing growth opportunities that enhance our business strategy, provides significant financial, operational, and regulatory risks that must be effectively managed.
As we continue to evaluate new business opportunities presented by the data center development in our territories, including a focus on northern Indiana, we face a variety of challenges including accurately predicting future power needs of data centers due to rapidly changing technology and market d…
Although the state legal and regulatory environment in Indiana is currently supportive of data center development, federal, state, and local governments are increasingly considering or adopting moratoria, permitting restrictions, reporting obligations, environmental and water-use standards, tax-ince…
In addition, throughout the U.S., the data center industry has recently experienced numerous delayed, withdrawn or canceled projects as a result of permitting, financing, litigation, community opposition, water, air-quality, and other infrastructure constraints. These developments have affected data…
Text removed vs the prior filing · source: 10-Q · 2026-08-05
Please refer to the risk factors set forth in Part I, Item 1A of the Annual Report on Form 10-K for the year ended December 31, 2025. There have been no material changes to such risk factors.
Other information
Text added vs the prior filing · source: 10-Q · 2026-10-28
During the quarter ended September 30, 2026, none of our directors or executive officers adopted or terminated a Rule 10b5-1 trading plan or adopted or terminated a non-Rule 10b5-1 trading arrangement (as defined in Item 408(c) of Regulation S-K).
Text removed vs the prior filing · source: 10-Q · 2026-08-05
The following table describes any contracts, instructions or written plans for the sale or purchase of NiSource securities that are intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) of the Exchange Act that were adopted by our directors and executive officers during the quarte…
Sale of up to 13,000 shares of common stock in multiple transactions
(1) A trading plan may also expire on such earlier date that all transactions under the trading plan are completed.
(2) Aggregate number may increase upon time of transacting in order to account for dividends.
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice