ONE Gas, Inc. revised earnings guidance for the year 2018. The company announced that its 2018 net income is expected to be in the range of $156 million to $168 million, or $2.96 to $3.20 per diluted share. The midpoint for ONE Gas' 2018 net income guidance is $162 million, or $3.08 per diluted share. ONE Gas' 2018 earnings guidance primarily reflects the benefit of new rates and normal weather in its service territories and a $0.04 per diluted share contribution from the share-based compensation accounting standard that was adopted in the first quarter of 2017. These benefits are offset partially by higher depreciation expense due to capital investments. The impacts of the recently signed tax reform legislation and expected regulatory treatment have also been incorporated into guidance. ONE Gas expects to achieve a 7.3% return on equity in 2018, which assumes an average rate base of $3.4 billion and is calculated consistent with utility ratemaking in each jurisdiction. ONE Gas also increased its 2017 net income guidance to $3.06 to $3.10 per diluted share, compared with its previously announced range of $2.94 to $3.04 per diluted share. Included in the 2017 EPS guidance range is $0.10 per share contribution from adoption of the share-based compensation accounting standard in the first quarter of 2017, which was included in the previous guidance. Also included in the updated guidance is a $0.07 per share contribution from the accounting authority order approved by the Kansas Corporation Commission in the fourth quarter of 2017 and a $0.04 per share negative impact from the recently signed tax reform legislation, neither of which were included in the previous guidance. Capital expenditures are expected to be $375 million in 2018, with 70% of these expenditures targeted for system integrity and replacement projects.