MDU RESOURCES GROUP INC
For the period ended Sep 30, 2024. Filed Nov 7, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 7, 2024
MDU$19.28+0.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Cash Flows --
Index
| MDU Resources Group, Inc. | ||
|---|---|---|
| Consolidated Statements of Cash Flows | ||
| (Unaudited) | ||
| Nine Months Ended | ||
| September 30, | ||
| 2024 | 2023 | |
| (In thousands) | ||
| Operating activities: | ||
| Net income | $225,950 | $243,974 |
| Less: income (loss) from discontinued operations, net of tax | 2,319 | (65,752) |
| Income from continuing operations | 223,631 | 309,726 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation and amortization | 167,791 | 158,877 |
| Deferred income taxes | (12,289) | 63,745 |
| Provision for credit losses | 4,902 | 9,769 |
| Amortization of debt issuance costs | 1,167 | 991 |
| Employee stock-based compensation costs | 7,067 | 3,943 |
| Pension and postretirement benefit plan net periodic benefit credit | (2,882) | (4,086) |
| Unrealized gain on retained shares in Knife River | — | (170,170) |
| Unrealized gains on investments | (5,813) | (3,501) |
| Gains on sales of assets | (5,754) | (6,761) |
| Changes in current assets and liabilities, net of acquisitions: | ||
| Receivables | 14,510 | 161,366 |
| Inventories | (6,307) | (19,694) |
| Other current assets | 37,007 | (68,161) |
| Accounts payable | 7,176 | (132,323) |
| Other current liabilities | 47,057 | 42,310 |
| Pension and postretirement benefit plan contributions | (2,557) | (7,541) |
| Other noncurrent changes | (35,238) | (3,362) |
| Net cash provided by continuing operations | 439,468 | 335,128 |
| Net cash provided by (used in) discontinued operations | 2,318 | (160,214) |
| Net cash provided by operating activities | 441,786 | 174,914 |
| Investing activities: | ||
| Capital expenditures | (400,989) | (370,585) |
| Net proceeds from sale or disposition of property | 9,590 | 12,508 |
| Cost of removal, net of salvage value | (6,133) | 730 |
| Investments | (3,878) | (3,339) |
| Proceeds from investment cost basis withdrawal | 9,000 | — |
| Net cash used in continuing operations | (392,410) | (360,686) |
| Net cash used in discontinued operations | — | (55,012) |
| Net cash used in investing activities | (392,410) | (415,698) |
| Financing activities: | ||
| Issuance of short-term borrowings | — | 461,400 |
| Repayment of short-term borrowings | (95,000) | (193,500) |
| Issuance of long-term debt | 302,400 | 411,900 |
| Repayment of long-term debt | (147,731) | (434,994) |
| Debt issuance costs | (2,416) | (1,844) |
| Costs of issuance of common stock | (50) | — |
| Dividends paid | (76,915) | (135,861) |
| Repurchase of common stock | — | (4,811) |
| Tax withholding on stock-based compensation | (2,623) | (3,040) |
| Net cash (used in) provided by continuing operations | (22,335) | 99,250 |
| Net cash provided by discontinued operations | — | 93,509 |
| Net cash (used in) provided by financing activities | (22,335) | 192,759 |
| Increase (decrease) in cash, cash equivalents and restricted cash | 27,041 | (48,025) |
| Cash, cash equivalents and restricted cash - beginning of year | 76,975 | 80,518 |
| Cash, cash equivalents and restricted cash - end of period | $104,016 | $32,493 |
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