MDU RESOURCES GROUP INC
For the period ended Dec 31, 2023. Filed Feb 22, 2024.
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FY2023 · Filed Feb 22, 2024
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23. Subsequent Events
Note 23 -Subsequent Events
On January 19, 2024, Cascade made the final $50.0 million repayment on the $150.0 million term loan agreement which Cascade had entered into on January 20, 2023, with a SOFR-based variable interest rate and a maturity date of January 19, 2024.
On January 19, 2024, Intermountain made the final $45.0 million repayment on the $125.0 million term loan agreement which Intermountain had entered into on January 20, 2023, with a SOFR-based variable interest rate and a maturity date of January 19, 2024.
MDU Resources Group, Inc. Form 10-K 117
Index
| The following abbreviations and acronyms used in Notes to Consolidated Financial Statements are defined below: | |
|---|---|
| Abbreviation or Acronym | |
| AFUDC | Allowance for funds used during construction |
| ASC | FASB Accounting Standards Codification |
| ASU | FASB Accounting Standards Update |
| Big Stone Station | 475-MW coal-fired electric generating facility near Big Stone City, South Dakota (22.7 percent ownership) |
| BSSE | 345-kV transmission line from Ellendale, North Dakota, to Big Stone City, South Dakota (50 percent ownership) |
| Cascade | Cascade Natural Gas Corporation, an indirect wholly owned subsidiary of MDU Energy Capital |
| Centennial | CEHI, LLC, a direct wholly owned subsidiary of the Company, formally known as Centennial Energy Holdings, Inc. prior to the separation of Knife River from the Company. References to Centennial's historical business and operations refer to the business and operations of Centennial Energy Holdings, Inc. |
| Centennial Capital | Centennial Holdings Capital LLC, a direct wholly owned subsidiary of Centennial |
| Company | MDU Resources Group, Inc. |
| Coyote Creek | Coyote Creek Mining Company, LLC, a subsidiary of The North American Coal Corporation |
| Coyote Station | 427-MW coal-fired electric generating facility near Beulah, North Dakota (25 percent ownership) |
| EBITDA | Earnings before interest, taxes, depreciation and amortization |
| EIN | Employer Identification Number |
| EPA | United States Environmental Protection Agency |
| FASB | Financial Accounting Standards Board |
| FERC | Federal Energy Regulatory Commission |
| Fidelity | Fidelity Exploration & Production Company, a direct wholly owned subsidiary of WBI Holdings (previously referred to as the Company's exploration and production segment) |
| FIP | Funding improvement plan |
| GAAP | Accounting principles generally accepted in the United States of America |
| Great Plains | Great Plains Natural Gas Co., a public utility division of Montana-Dakota |
| IBEW | International Brotherhood of Electrical Workers |
| Intermountain | Intermountain Gas Company, an indirect wholly owned subsidiary of MDU Energy Capital |
| IPUC | Idaho Public Utilities Commission |
| IRS | Internal Revenue Service |
| JETx | 345-kV transmission line from Jamestown, North Dakota to Ellendale, North Dakota (50 percent ownership) |
| Knife River | Established as Knife River Corporation prior to the separation from the Company, a direct wholly owned subsidiary of Centennial. Knife River refers to Knife River Corporation, during the period prior to separation, now known as "KRC Materials, Inc." Following the separation Knife River refers to Knife River Holding Company, now known as Knife River Corporation. |
| K-Plan | Company's 401(k) Retirement Plan |
| LIBOR | London Inter-bank Offered Rate |
| MDU Construction Services | MDU Construction Services Group, Inc., a direct wholly owned subsidiary of Centennial |
| MDU Energy Capital | MDU Energy Capital, LLC, a direct wholly owned subsidiary of the Company |
| MEPP | Multiemployer pension plan |
| MISO | Midcontinent Independent System Operator, Inc., the organization that provides open-access transmission services and monitors the high-voltage transmission system in the Midwest United States and Manitoba, Canada and a southern United States region which includes much of Arkansas, Mississippi and Louisiana |
| MNPUC | Minnesota Public Utilities Commission |
| Montana-Dakota | Montana-Dakota Utilities Co. a direct wholly owned subsidiary of MDU Energy Capital |
| MTPSC | Montana Public Service Commission |
| MW | Megawatt |
| NDPSC | North Dakota Public Service Commission |
| PRP | Potentially Responsible Party |
| RP | Rehabilitation plan |
| SDPUC | South Dakota Public Utilities Commission |
118 MDU Resources Group, Inc. Form 10-K
Index
| SEC | United States Securities and Exchange Commission |
|---|---|
| Securities Act | Securities Act of 1933, as amended |
| SOFR | Secured Overnight Financing Rate |
| VIE | Variable interest entity |
| Washington DOE | Washington State Department of Ecology |
| WBI Energy Transmission | WBI Energy Transmission, Inc., an indirect wholly owned subsidiary of WBI Holdings |
| WBI Holdings | WBI Holdings, Inc., a direct wholly owned subsidiary of Centennial |
| WUTC | Washington Utilities and Transportation Commission |
| Wygen III | 100-MW coal-fired electric generating facility near Gillette, Wyoming (25 percent ownership) |
MDU Resources Group, Inc. Form 10-K 119
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