UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022. OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________. Commission file number 001-36108 ONE Gas, Inc. (Exact name of registrant as specified in its charter) Oklahoma 46-3561936 (State or other jurisdict ...

Financial Data and Key Metrics Changes - Net income for Q4 2022 was $67 million, or $1.23 per diluted share, compared to $60.5 million, or $1.12 per diluted share in Q4 2021, reflecting a year-over-year increase [19] - For the full year, net income was $221.7 million, or $4.08 per diluted share, versus $206.4 million, or $3.85 per diluted share in 2021, indicating a solid growth in profitability [20] - Operating income increased by approximately 13% or $39.7 million for the full year, driven by $58.7 million from new rates and $7 million from residential customer growth [20] Business Line Data and Key Metrics Changes - Operating costs for the year were $24.4 million higher than 2021, primarily due to increases in outside service costs and employee labor and benefits [9] - Capital expenditures for Q4 were $209.6 million, totaling $656.5 million for the year, compared to $544.3 million in 2021, with the increase attributed to system integrity projects and service extensions [9] Market Data and Key Metrics Changes - Average rate base for the year was $4.69 billion, with 42% in Oklahoma, 27% in Kansas, and 31% in Texas [29] - New customer connections in Texas grew roughly 3%, while Oklahoma saw a 17% increase, and Kansas jumped almost 22% compared to the prior year [24] Company Strategy and Development Direction - The company is focused on a disciplined phased approach to growth, managing current opportunities while positioning for long-term system expansion [40] - The recent approval of the West North Texas rate case is seen as a constructive outcome, recognizing the need for ongoing investments to enhance system integrity [26] Management's Comments on Operating Environment and Future Outlook - Management highlighted the resilience of the company in facing challenges such as inflation and supply chain impacts, maintaining a focus on safety, customer service, and organic growth [44] - The company remains optimistic about future growth opportunities, supported by economic development in its service territories and a favorable energy landscape [51] Other Important Information - The company ended the year with $448 million of capacity under its $1 billion commercial paper program and no borrowings under its credit facility [10] - A dividend of $0.65 per share was declared in January, marking a 5% increase from the previous quarter [30] Q&A Session Summary Question: Can you quantify the improvement for working capital and short-term debt balance anticipated for year-end 2023? - Management indicated that lower gas costs would positively impact cash flow and working capital needs, but emphasized that gas prices are just one factor among many [50][57] Question: Are there similar projects in the pipeline that could manifest over the next 12 to 18 months? - Management confirmed ongoing success in securing new projects, with continued building activity in service territories, indicating a positive outlook for future growth [51][54] Question: How should we think about the backlog and its fulfillment timeline given the change in customer growth rates? - Management clarified that the backlog is growing, with ongoing demand for new connections, and emphasized the importance of separating short-term from long-term projects [54][74]

Financial Data and Key Metrics Changes - The company narrowed its 2022 net income guidance to a range of $217 million to $226 million, with earnings per diluted share of $4 to $4.16 [14] - For Q3 2022, net income was $23.7 million or $0.44 per diluted share, compared to $20.3 million or $0.38 per diluted share in the same period last year, reflecting a 16.7% increase in earnings [15] - Operating income increased by $5.3 million or 13% over the same period last year, driven by new rates and residential customer growth [15] - Operating costs rose by $9.4 million compared to Q3 2021, with significant increases in outside services and employee-related costs [16] - Interest expense increased by $4.2 million compared to Q3 2021, influenced by higher natural gas prices and increased working capital needs [17] Business Line Data and Key Metrics Changes - The company added nearly 20,000 new customer connections in the nine months ending September 30, a 16% increase compared to the same timeframe in 2021 [29] - New rates reflecting a $19.6 million revenue increase went into effect in July, with interim rates subject to final approval [25] Market Data and Key Metrics Changes - Building permits have declined from historic highs but remained resilient, with increased activity in major metropolitan areas [30] - The I-35 corridor from Kansas City to San Antonio is recognized as the fastest population and job growth region in the US [30] Company Strategy and Development Direction - The company is focused on customer affordability and managing costs amid decade-high inflation and geopolitical conflicts affecting natural gas prices [10] - There is a commitment to clean energy goals and the development of renewable natural gas (RNG) projects [31] - The company plans to file a voluntary RNG tariff in Oklahoma and explore similar options in other jurisdictions [32] Management's Comments on Operating Environment and Future Outlook - Management acknowledged challenges such as inflation and supply chain disruptions but expressed confidence in completing the 2022 capital program and executing in 2023 [34] - The company remains optimistic about growth in Texas and Oklahoma, citing continued economic development and population influx [48][49] Other Important Information - The company executed forward sales agreements for approximately 570,000 shares of common stock, generating potential net proceeds of about $94 million [19] - The Board of Directors declared a dividend of $0.62 per share, unchanged from the previous quarter [23] Q&A Session Summary Question: Capital expenditures for 2022 - The company confirmed it remains on track to complete the $650 million capital expenditure target for 2022, with several large projects in progress [39] Question: Interest in unregulated RNG - Management expressed interest in participating in RNG projects as a means to connect generators with customers seeking lower carbon fuel, while maintaining focus on organic growth opportunities [42][43] Question: Pressure on customer bills - The company emphasized its efforts to help customers moderate usage and manage costs while maintaining a reliable and safe system [45][46] Question: Pace of housing development - Management remains confident in growth in Texas and Oklahoma, noting record connections made and continued economic development despite some signs of slowing in the housing market [47][48]

Commission file number 001-36108 ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended September 30, 2022. OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from __________ to __________. FORM 10-Q UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ONE Gas, Inc. (Exact name of registrant as specified in its charter) Oklahoma 46-3561936 (State or other ...

Financial Data and Key Metrics Changes - Net income for Q2 2022 was $32.1 million or $0.59 per diluted share, compared to $30.1 million or $0.56 per diluted share in Q2 2021, reflecting a year-over-year increase [11] - Operating income increased by $7.5 million or 15% over the same period last year, driven by new rates and residential customer growth [11][12] - Operating costs rose by $7.1 million compared to Q2 2021, with outside services accounting for $5.8 million of the increase [13] Business Line Data and Key Metrics Changes - The increase in operating income was primarily due to $14.4 million from new rates, largely resulting from regulatory filings completed in the previous year [12] - Continued residential customer growth in Oklahoma and Texas contributed an additional $1.5 million to operating income [12] Market Data and Key Metrics Changes - The authorized rate base was approximately $4.28 billion as of June 30, with an estimated average rate base of approximately $4.8 billion for 2022 [16] - The company added over 12,000 new customer connections in the first half of 2022, surpassing the approximately 11,000 added in the same period last year [33] Company Strategy and Development Direction - The company is focused on three targets: a strong safety culture, excellent customer service, and building capacity to respond to organic growth [6] - A stronger emphasis on ESG opportunities has been added to the company's commitments, with renewable natural gas (RNG) being integral to its emissions reduction strategy [8][34] - The company is actively managing costs and focusing on customer affordability amid rising inflation and gas prices [9][10] Management's Comments on Operating Environment and Future Outlook - Management expects economic conditions to remain challenging for the remainder of the year but is confident in the guidance range due to solid performance in the first half [24] - The company is committed to managing costs and executing its capital plan while addressing external factors like interest rates and inflation [24] Other Important Information - The Board of Directors declared a dividend of $0.62 per share, unchanged from the previous quarter [20] - The company is utilizing its at-the-market equity program to address future liquidity needs, having executed forward sale agreements for approximately 592,000 shares [18][19] Q&A Session Summary Question: Can you provide more color on the 2022 EPS guidance considering the nonqualified benefit plan and pension impacts? - Management clarified that the mark-to-market adjustments for nonqualified plans are not included in guidance, and the pension plan remeasurement will have a fixed impact of about $7 million for the remainder of the year [48][49] Question: What are the implications of El Paso's denial for the group rate increase? - Management indicated that the rates were allowed to take effect as the Commission deemed the filing proper, and the appeal process is ongoing [58] Question: Have inflation expectations changed, and how is O&M tracking? - Management stated that they have not gained more visibility on inflation but are focused on recognizing savings without compromising customer service [60][61] Question: How will one-time items be treated in the guidance? - Management noted that the impacts of mark-to-market and remeasurement for 2022 largely negate each other, and they do not plan to provide a non-GAAP earnings number [72]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended June 30, 2022. OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from __________ to __________. Commission file number 001-36108 ONE Gas, Inc. (Exact name of registrant as specified in its charter) Oklahoma 46-3561936 (State or other juris ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended March 31, 2022. OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from __________ to __________. Commission file number 001-36108 ONE Gas, Inc. (Exact name of registrant as specified in its charter) Oklahoma 46-3561936 (State or other juri ...

Financial Data and Key Metrics Changes - ONE Gas reported significant changes in financial performance, with a focus on adapting to the dynamic business environment [6]. Business Line Data and Key Metrics Changes - Specific details regarding the performance of various business lines were not provided in the available content [6]. Market Data and Key Metrics Changes - The company is addressing emerging market conditions but did not disclose specific market data or metrics in the provided content [6]. Company Strategy and Development Direction and Industry Competition - ONE Gas is concentrating on positioning itself to tackle the evolving business landscape while executing its strategic initiatives [6]. Management's Comments on Operating Environment and Future Outlook - Management highlighted the importance of addressing current issues in the dynamic environment, indicating a proactive approach to future challenges [6]. Other Important Information - The call included a reminder about forward-looking statements and the associated risks, emphasizing the need for caution in interpreting projections [3]. Q&A Session Summary Question: What are the key challenges facing ONE Gas in the current environment? - Management acknowledged various issues requiring attention but did not provide specific details during the call [6].

Business Strategy & Growth - The company has a sustainable business model with a clear vision and a 100% regulated natural gas distribution utility[9] - The company is focused on organic growth, projecting an average annual customer growth of 1.2% through 2026[10] - The company's capital investments are expected to be approximately $3.5 billion from 2022 through 2026, a 19% increase over the previous five-year plan[60] Financial Performance & Objectives - The company anticipates a net income range of $215 million to $227 million in 2022[62] - The company projects earnings per diluted share (EPS) range of $3.96 to $4.20 in 2022[62] - The company estimates an average rate base of $4.64 billion in 2022, including $650 million in capital investments[62] - The company targets a dividend increase of 6-8%, subject to board approval[60] Regulatory & Capital Investments - Approximately 92% of the company's 2022 estimated capital expenditures are subject to annual filings for recovery[11, 42] - The company is undertaking a vintage pipeline replacement program, replacing an average of 231 miles of vintage pipe per year since 2014[10, 27] ESG Initiatives - The company is committed to ESG stewardship and sustainability, including improved disclosures and data quality[12] - The company expects a 55% reduction in CO2e emissions by 2035 through replacement and protection of distribution mains and service lines (2005 baseline)[76]

Financial Data and Key Metrics Changes - Net income for Q4 2021 was $60.5 million or $1.12 per diluted share, compared to $58.3 million or $1.09 per diluted share in Q4 2020, reflecting an increase in revenues of $10 million year-over-year [6][8] - For the full year 2021, net income was $206.4 million or $3.85 per diluted share versus $196.4 million or $3.68 per diluted share in 2020 [8] - Operating costs for Q4 2021 were $7.1 million higher than the same period last year, driven by a $13.3 million increase in employee labor and benefits [7][8] - Capital expenditures for Q4 were $161 million, totaling $544 million for the year, an increase from $512 million in 2020 [9][10] Business Line Data and Key Metrics Changes - Revenues less the cost of natural gas for the full year were $40.7 million, including $32 million from new rates and $8.5 million from residential customer growth [8] - The company connected approximately 25,000 new customers during 2021, with an expected average annual customer growth of 1.2% across its service territory over the next five years [18] Market Data and Key Metrics Changes - The average rate base for the year was $4.25 billion, with 41% in Oklahoma, 29% in Kansas, and 30% in Texas [10] - The company anticipates a higher rate base growth of 8% to 9%, up from 7% to 8% previously [11] Company Strategy and Development Direction - The company plans to increase capital investments to $650 million in 2022, a 20% increase over 2021, focusing on system integrity and expansion to new customers [11][12] - Total capital spending for the next five years is anticipated to be $3.5 billion, which is $500 million higher than the previous plan [11] - The company aims for a 55% reduction in emissions from distribution pipeline leaks by 2035, as part of its climate-related goals [22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to manage O&M expenses despite inflationary pressures, highlighting proactive supply chain management [28][29] - The company is well-positioned to execute its growth and maintenance plans, with a focus on core values and service delivery [41] Other Important Information - Moody's revised its outlook for the company from negative to stable, affirming its credit ratings [10] - The company expects average annual dividend growth between 6% to 8% through 2026, with a target payout ratio of 55% to 65% [12] Q&A Session Summary Question: Drivers of increased CapEx and CAGR - Management indicated that multiple factors contribute to increased capital spending, including system integrity work, economic development in Texas and Oklahoma, and government-required relocations [24][26] Question: Inflationary impacts on the business - Management acknowledged higher labor and outside service costs but emphasized their preparedness to manage O&M expenses and minimize customer bill impacts [27][29] Question: Renewable Natural Gas (RNG) opportunities - Management expressed excitement about RNG opportunities due to the proximity of feedstock and ongoing projects, highlighting the environmental benefits of capturing fugitive emissions [31][33] Question: Trends in Return on Equity (ROE) - Management noted stable ROE trends in recent years, with expectations for stability despite inflationary pressures and interest rate increases [35][36] Question: M&A outlook - Management remains focused on internal growth opportunities and is not currently pursuing M&A, despite recognizing market dislocations [40][41]