Otter Tail Corp
For the period ended Dec 31, 2024. Filed Feb 19, 2025.
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.
FY2024 · Filed Feb 19, 2025
OTTR$79.77-0.1%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
| Years Ended December 31, | |||
|---|---|---|---|
| (in thousands) | 2024 | 2023 | 2022 |
| Operating Activities | |||
| Net Income | $301,662 | $294,191 | $284,184 |
| Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: | |||
| Depreciation and Amortization | 107,121 | 97,954 | 92,597 |
| Deferred Tax Credits | (182) | (744) | (745) |
| Deferred Income Taxes | 23,057 | 13,508 | 32,424 |
| Discretionary Contribution to Pension Plan | — | — | (20,000) |
| Investment (Gains) Losses | (5,482) | (7,222) | 3,296 |
| Stock Compensation Expense | 9,529 | 7,753 | 6,814 |
| Other, net | (3,111) | (423) | (1,473) |
| Changes in Operating Assets and Liabilities: | |||
| Receivables | 11,179 | (12,750) | 30,560 |
| Inventories | 3,691 | (2,450) | 5,339 |
| Regulatory Assets | 5,194 | 12,479 | (2,464) |
| Other Assets | (11,640) | 2,817 | (368) |
| Accounts Payable | 14,826 | (9,988) | (29,763) |
| Accrued and Other Liabilities | (10,371) | 6 | (5,490) |
| Regulatory Liabilities | 16,821 | 20,973 | (6,846) |
| Pension and Other Postretirement Benefits | (9,563) | (11,605) | 1,244 |
| Net Cash Provided by Operating Activities | 452,731 | 404,499 | 389,309 |
| Investing Activities | |||
| Capital Expenditures | (358,650) | (287,134) | (171,134) |
| Proceeds from Disposal of Noncurrent Assets | 8,849 | 6,225 | 4,346 |
| Purchases of Investments and Other Assets | (61,573) | (8,378) | (8,283) |
| Net Cash Used in Investing Activities | (411,374) | (289,287) | (175,071) |
| Financing Activities | |||
| Net (Repayments) Borrowings on Short-Term Debt | (11,807) | 73,218 | (82,959) |
| Proceeds from Issuance of Long-Term Debt | 120,000 | — | 90,000 |
| Payments for Retirement of Long-Term Debt | — | — | (30,000) |
| Dividends Paid | (78,266) | (73,061) | (68,755) |
| Payments for Shares Withheld for Employee Tax Obligations | (6,457) | (3,088) | (2,942) |
| Other, net | (549) | (904) | (2,123) |
| Net Cash Provided by (Used in) Financing Activities | 22,921 | (3,835) | (96,779) |
| Net Change in Cash and Cash Equivalents | 64,278 | 111,377 | 117,459 |
| Cash and Cash Equivalents at Beginning of Period | 230,373 | 118,996 | 1,537 |
| Cash and Cash Equivalents at End of Period | $294,651 | $230,373 | $118,996 |
| Supplemental Disclosures of Cash Flow Information | |||
| Cash Paid During the Year for: | |||
| Interest, net of amount capitalized | $39,484 | $36,956 | $35,699 |
| Income Taxes | $57,614 | $46,284 | $43,411 |
| Supplemental Disclosure of Noncash Investing Activities | |||
| Accrued Property, Plant and Equipment Additions | $20,281 | $13,001 | $12,420 |
See accompanying notes to consolidated financial statements
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.