Otter Tail Corp
For the period ended Dec 31, 2025. Filed Feb 18, 2026.
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FY2025 · Filed Feb 18, 2026
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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Item 8. Consolidated Statements of Cash Flows
| Years Ended December 31, | |||
|---|---|---|---|
| (in thousands) | 2025 | 2024 | 2023 |
| Operating Activities | |||
| Net Income | $275,893 | $301,662 | $294,191 |
| Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: | |||
| Depreciation and Amortization | 118,107 | 107,121 | 97,954 |
| Deferred Tax Credits | (669) | (182) | (744) |
| Deferred Income Taxes | 33,187 | 23,057 | 13,508 |
| Investment Gains | (6,701) | (5,482) | (7,222) |
| Stock Compensation Expense | 9,119 | 9,529 | 7,753 |
| Other, net | (4,040) | (3,111) | (423) |
| Changes in Operating Assets and Liabilities: | |||
| Receivables | 468 | 11,179 | (12,750) |
| Inventories | (4,751) | 3,691 | (2,450) |
| Regulatory Assets | (10,779) | 5,194 | 12,479 |
| Other Assets | (3,721) | (11,640) | 2,817 |
| Accounts Payable | (24,120) | 14,826 | (9,988) |
| Accrued and Other Liabilities | 7,257 | (10,371) | 6 |
| Regulatory Liabilities | 2,190 | 16,821 | 20,973 |
| Pension and Other Postretirement Benefits | (5,455) | (9,563) | (11,605) |
| Net Cash Provided by Operating Activities | 385,985 | 452,731 | 404,499 |
| Investing Activities | |||
| Capital Expenditures | (288,068) | (358,650) | (287,134) |
| Proceeds from Disposal of Investments and Other Assets | 6,925 | 8,849 | 6,225 |
| Purchases of Investments and Other Assets | (9,581) | (61,573) | (8,378) |
| Net Cash Used in Investing Activities | (290,724) | (411,374) | (289,287) |
| Financing Activities | |||
| Net (Repayments) Borrowings on Short-Term Debt | (9,373) | (11,807) | 73,218 |
| Proceeds from Issuance of Long-Term Debt | 100,000 | 120,000 | — |
| Dividends Paid | (88,064) | (78,266) | (73,061) |
| Payments for Shares Withheld for Employee Tax Obligations | (3,134) | (6,457) | (3,088) |
| Other, net | (3,148) | (549) | (904) |
| Net Cash Provided by (Used in) Financing Activities | (3,719) | 22,921 | (3,835) |
| Net Change in Cash and Cash Equivalents | 91,542 | 64,278 | 111,377 |
| Cash and Cash Equivalents at Beginning of Period | 294,651 | 230,373 | 118,996 |
| Cash and Cash Equivalents at End of Period | $386,193 | $294,651 | $230,373 |
| Supplemental Disclosures of Cash Flow Information | |||
| Cash Paid During the Year for: | |||
| Interest, net of amount capitalized | $45,701 | $39,484 | $36,956 |
| Income Taxes | $11,093 | $57,614 | $46,284 |
| Supplemental Disclosure of Noncash Investing Activities | |||
| Accrued Property, Plant and Equipment Additions | $26,129 | $20,281 | $13,001 |
See accompanying notes to consolidated financial statements
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