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

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Contents

. Receivables and allowance for expected credit losses

Index

Note 5 -Receivables and allowance for expected credit losses

Receivables consist primarily of trade and contracting services receivables from the sale of goods and services, net of expected credit losses. The Company's trade receivables are all due in 12 months or less. The total balance of receivables past due 90 days or more was $79.9 million, $51.1 million and $45.7 million at September 30, 2024 and 2023, and December 31, 2023, respectively.

The Company's expected credit losses are determined through a review using historical credit loss experience; changes in asset specific characteristics; current conditions; and reasonable and supportable future forecasts, among other specific account data, and is performed at least quarterly. The Company develops and documents its methodology to determine its allowance for expected credit losses at each of its reportable business segments. Risk characteristics used by the business segments may include customer mix, knowledge of customers and general economic conditions of the various local economies, among others. Specific account balances are written off when management determines the amounts to be uncollectible. Management has reviewed the balance reserved through the allowance for expected credit losses and believes it is reasonable.

Details of the Company's expected credit losses were as follows:

	Electric	Natural gasdistribution	Pipeline	Constructionservices	Total
(In thousands)
At December 31, 2023	$414	$1,189	$—	$7,967	$9,570
Current expected credit loss provision	782	1,916	—	(411)	2,287
Less write-offs charged against the allowance	659	1,455	—	48	2,162
Credit loss recoveries collected	147	314	—	—	461
At March 31, 2024	$684	$1,964	$—	$7,508	$10,156
Current expected credit loss provision	190	214	—	277	681
Less write-offs charged against the allowance	463	969	—	541	1,973
Credit loss recoveries collected	80	196	—	13	289
At June 30, 2024	$491	$1,405	$—	$7,257	$9,153
Current expected credit loss provision	520	1,330	—	84	1,934
Less write-offs charged against the allowance	594	2,121	—	84	2,799
Credit loss recoveries collected	86	255	—	43	384
At September 30, 2024	$503	$869	$—	$7,300	$8,672

	Electric	Natural gasdistribution	Pipeline	Constructionservices	Total
(In thousands)
At December 31, 2022	$375	$1,615	$2	$2,162	$4,154
Current expected credit loss provision	615	2,324	—	826	3,765
Less write-offs charged against the allowance	667	1,225	—	51	1,943
Credit loss recoveries collected	145	229	—	1	375
At March 31, 2023	$468	$2,943	$2	$2,938	$6,351
Current expected credit loss provision	182	90	—	1,825	2,097
Less write-offs charged against the allowance	316	1,454	—	103	1,873
Credit loss recoveries collected	79	161	—	58	298
At June 30, 2023	$413	$1,740	$2	$4,718	$6,873
Current expected credit loss provision	513	1,661	—	1,733	3,907
Less write-offs charged against the allowance	572	2,758	—	27	3,357
Credit loss recoveries collected	75	233	—	—	308
At September 30, 2023	$429	$876	$2	$6,424	$7,731

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