BLACK HILLS CORP SD
For the period ended Dec 31, 2023. Filed Feb 14, 2024.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Feb 14, 2024
BKH$87.04+0.8%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
Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Year ended | December 31, 2023 | December 31, 2022 | December 31, 2021 |
|---|---|---|---|
| (in millions) | |||
| Operating activities: | |||
| Net income | $276.0 | $270.8 | $251.2 |
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: | |||
| Depreciation, depletion and amortization | 256.8 | 250.9 | 236.0 |
| Deferred financing cost amortization | 10.1 | 9.8 | 7.0 |
| Stock compensation | 7.0 | 8.6 | 9.7 |
| Deferred income taxes | 25.4 | 25.6 | 7.3 |
| Employee benefit plans | 11.5 | 5.5 | 9.6 |
| Other adjustments, net | 2.7 | (4.7) | 7.0 |
| Change in certain operating assets and liabilities: | |||
| Materials, supplies and fuel | 51.4 | (75.4) | (35.7) |
| Accounts receivable and other current assets | 204.5 | (184.5) | (43.2) |
| Accounts payable and other current liabilities | (109.9) | 89.4 | 10.6 |
| Regulatory assets | 236.8 | 203.9 | (514.7) |
| Regulatory liabilities | — | — | (9.5) |
| Other operating activities, net | (27.9) | (15.1) | 0.1 |
| Net cash provided by (used in) operating activities | 944.4 | 584.8 | (64.6) |
| Investing activities: | |||
| Property, plant and equipment additions | (555.6) | (604.4) | (677.5) |
| Other investing activities | 18.9 | 0.5 | 13.3 |
| Net cash (used in) investing activities | (536.7) | (603.9) | (664.2) |
| Financing activities: | |||
| Dividends paid on common stock | (168.1) | (156.7) | (145.0) |
| Common stock issued | 118.3 | 90.1 | 119.0 |
| Term Loan - borrowings | — | — | 800.0 |
| Term Loan - repayments | — | — | (800.0) |
| Net borrowings (payments) of Revolving Credit Facility and CP Program | (535.6) | 115.4 | 186.1 |
| Long-term debt - issuance | 800.0 | — | 600.0 |
| Long-term debt - repayments | (525.0) | — | (8.4) |
| Distributions to non-controlling interests | (18.3) | (17.4) | (15.7) |
| Other financing activities | (13.0) | 0.9 | (4.1) |
| Net cash provided by (used in) financing activities | (341.7) | 32.3 | 731.9 |
| Net change in cash, restricted cash and cash equivalents | 66.0 | 13.2 | 3.1 |
| Cash, restricted cash and cash equivalents beginning of year | 27.0 | 13.8 | 10.7 |
| Cash, restricted cash and cash equivalents end of year | $93.0 | $27.0 | $13.8 |
| Supplemental cash flow information: | |||
| Cash (paid) refunded during the period: | |||
| Interest (net of amounts capitalized) | $(157.3) | $(152.5) | $(142.7) |
| Income taxes | $(1.0) | $0.8 | $1.5 |
| Non-cash investing and financing activities: | |||
| Accrued property, plant and equipment purchases at December 31 | $52.4 | $59.3 | $68.8 |
| Increase in capitalized assets associated with asset retirement obligations | $3.8 | $14.0 | $2.1 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.