Knife River Corp
For the period ended Mar 31, 2026. Filed May 5, 2026.
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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.
Mar 31, 2026 · Filed May 5, 2026
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13. Debt
Note 13 -Debt
Certain debt instruments of ours contain restrictive covenants and cross-default provisions. In order to borrow under the debt agreements, we must be in compliance with the applicable covenants and certain other conditions, all of which management believes we, as applicable, were in compliance with at March 31, 2026. In the event we do not comply with the applicable covenants and other conditions, alternative sources of funding may need to be pursued.
Long-term Debt Outstanding Long-term debt outstanding was as follows:
| WeightedAverageInterestRate atMarch 31, 2026 | March 31, 2026 | March 31, 2025 | December 31, 2025 | |
|---|---|---|---|---|
| (In thousands) | ||||
| Term loan A agreement due on March 7, 2030 | 5.45% | $258,070 | $264,688 | $259,725 |
| Term loan B agreement due on March 8, 2032 | 5.67% | 495,000 | 500,000 | 496,250 |
| Revolving credit agreement | 6.46% | 270,000 | — | — |
| Senior notes due on May 1, 2031 | 7.75% | 425,000 | 425,000 | 425,000 |
| Other notes due on January 1, 2061 | —% | 141 | 243 | 167 |
| Less unamortized debt issuance costs | 14,883 | 17,766 | 15,604 | |
| Total long-term debt | 1,433,328 | 1,172,165 | 1,165,538 | |
| Less current maturities | 11,708 | 11,780 | 11,708 | |
| Net long-term debt | $1,421,620 | $1,160,385 | $1,153,830 | |
Schedule of Debt Maturities Long-term debt maturities, which excludes unamortized debt issuance costs, at March 31, 2026, were as follows:
| Remainder of2026 | 2027 | 2028 | 2029 | 2030 | Thereafter | |
|---|---|---|---|---|---|---|
| (In thousands) | ||||||
| Long-term debt maturities | $8,803 | $16,631 | $18,234 | $23,197 | $485,096 | $896,250 |
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