Knife River Corp

For the period ended Sep 30, 2026. Filed Nov 3, 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.

Sep 30, 2026 · Filed Nov 3, 2026

KNF$58.43-0.9%Stored close · as of Nov 10, 2026

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4. Receivables and Allowance for Expected Credit Losses

Note 4 -Receivables and Allowance for Expected Credit Losses

Receivables consist primarily of trade and contract receivables for the sale of goods and services net of expected credit losses. A majority of our receivables are due in 30 days or less. The total balance of receivables past due 90 days or more was $19.2 million, $16.4 million and $15.3 million at September 30, 2026, September 30, 2025 and December 31, 2025, respectively. Receivables were as follows:

	September 30, 2026	September 30, 2025	December 31, 2025
(In thousands)
Trade receivables	$298,063	$279,057	$155,836
Contract receivables	260,950	242,248	127,383
Receivables, gross	559,013	521,305	283,219
Less expected credit loss	5,777	4,541	5,189
Receivables, net	$553,236	$516,764	$278,030

Our expected credit losses are determined through a review using historical credit loss experience; changes in asset specific characteristics; current conditions; and reasonable and supportable future forecasts, among other specific account data, and is

Index

performed at least quarterly. We develop and document our methodology to determine our allowance for expected credit losses. Risk characteristics used by management may include customer mix, knowledge of customers and general economic conditions of the various local economies, among others. Specific account balances are written off when management determines the amounts to be uncollectible. Management has reviewed the balance reserved through the allowance for expected credit losses and believes it is reasonable.

Details of our expected credit losses were as follows:

	West	Mountain	Central	Energy Services	Total
(In thousands)
As of December 31, 2025	$2,405	$274	$1,602	$908	$5,189
Current expected credit loss provision	67	(34)	70	37	140
Less write-offs charged against the allowance	174	52	11	37	274
At March 31, 2026	$2,298	$188	$1,661	$908	$5,055
Current expected credit loss provision	306	132	93	58	589
Less write-offs charged against the allowance	43	40	7	6	96
At June 30, 2026	$2,561	$280	$1,747	$960	$5,548
Current expected credit loss provision	(79)	(129)	393	107	292
Less write-offs charged against the allowance	46	17	—	—	63
At September 30, 2026	$2,436	$134	$2,140	$1,067	$5,777

	West	Mountain	Central	Energy Services	Total
(In thousands)
As of December 31, 2024	$2,478	$780	$921	$166	$4,345
Current expected credit loss provision	—	42	30	263	335
Less write-offs charged against the allowance	73	8	18	263	362
At March 31, 2025	$2,405	$814	$933	$166	$4,318
Current expected credit loss provision	81	86	147	(208)	106
Less write-offs charged against the allowance	32	10	(5)	(208)	(171)
At June 30, 2025	$2,454	$890	$1,085	$166	$4,595
Current expected credit loss provision	29	278	341	316	964
Less write-offs charged against the allowance	108	880	14	16	1,018
At September 30, 2025	$2,375	$288	$1,412	$466	$4,541

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