Otter Tail Corp

For the period ended Dec 31, 2023. Filed Feb 14, 2024.

About 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

OTTR$79.77-0.1%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Consolidated Statements of Income

	Years Ended December 31,
(in thousands, except per-share amounts)	2023	2022	2021
Operating Revenues
Electric	$528,359	$549,699	$480,321
Product Sales	820,807	910,510	716,523
Total Operating Revenues	1,349,166	1,460,209	1,196,844
Operating Expenses
Electric Production Fuel	60,339	65,110	59,327
Electric Purchased Power	78,292	100,281	65,409
Electric Operating and Maintenance Expenses	191,263	181,378	159,669
Cost of Products Sold (excluding depreciation)	454,122	542,944	488,370
Nonelectric Selling, General, and Administrative Expenses	72,663	69,718	65,394
Depreciation and Amortization	97,954	92,597	91,358
Electric Property Taxes	16,614	17,742	17,609
Total Operating Expenses	971,247	1,069,770	947,136
Operating Income	377,919	390,439	249,708
Other Income and Expense
Interest Expense	(37,677)	(36,016)	(37,771)
Nonservice Cost Components of Postretirement Benefits	10,597	1,075	(2,016)
Other Income (Expense), net	12,650	2,037	2,900
Income Before Income Taxes	363,489	357,535	212,821
Income Tax Expense	69,298	73,351	36,052
Net Income	$294,191	$284,184	$176,769
Weighted-Average Common Shares Outstanding:
Basic	41,668	41,586	41,491
Diluted	42,039	41,931	41,818
Earnings Per Share:
Basic	$7.06	$6.83	$4.26
Diluted	$7.00	$6.78	$4.23

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.