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Knife River Corp

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

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About this filing

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

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

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Contents

8. Revenue from Contracts with Customers

Note 8 -Revenue from Contracts with Customers

Revenue is recognized when a performance obligation is satisfied by transferring control over a product or service to a customer. Revenue includes revenue from the sales of construction materials and contracting services. Revenue is measured based on consideration specified in a contract with a customer and excludes any sales incentives and amounts collected on behalf of third parties. We are considered an agent for certain taxes collected from customers. As such, we present revenues net of these taxes at the time of sale to be remitted to governmental authorities, including sales and use taxes. Revenue for construction materials is recognized at a point in time when delivery of the products has taken place. Contracting services revenue is recognized over time using an input method based on the cost-to-cost measure of progress on a project.

Index

Disaggregation

In the following tables, revenue is disaggregated by category for each segment and includes sales of materials to both third parties and internal customers. Due to consolidation requirements, the internal sales revenues must be eliminated against the construction materials product used in downstream materials and contracting services to arrive at the external operating revenues. We believe this level of disaggregation best depicts how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors. For more information on the Company’s reportable segments, see Note 15.

Three Months Ended September 30, 2026WestMountainCentralEnergy ServicesCorporate Services and EliminationsTotal
(In thousands)
Aggregates$99,268$45,440$105,052$—$—$249,760
Ready-mix concrete93,81246,212130,175——270,199
Asphalt57,18663,35994,466——215,011
Liquid asphalt———147,068—147,068
Other54,9921,21611,89325,4453,54797,093
Contracting services public-sector110,811169,726229,136——509,673
Contracting services private-sector29,62151,53613,764——94,921
Internal sales(81,072)(69,433)(126,261)(27,858)(3,500)(308,124)
Revenues from contracts with customers$364,618$308,056$458,225$144,655$47$1,275,601
Three Months Ended September 30, 2025WestMountainCentralEnergy ServicesCorporate Services and EliminationsTotal
(In thousands)
Aggregates$91,252$34,823$91,969$—$—$218,044
Ready-mix concrete98,58142,121120,673——261,375
Asphalt61,67442,21096,552——200,436
Liquid asphalt———148,765—148,765
Other50,311612,19025,5403,36491,411
Contracting services public-sector141,893123,245216,421——481,559
Contracting services private-sector28,54632,28514,050——74,881
Internal sales(76,705)(45,020)(117,528)(30,301)(3,200)(272,754)
Revenues from contracts with customers$395,552$229,670$434,327$144,004$164$1,203,717
Nine Months Ended September 30, 2026WestMountainCentralEnergy ServicesCorporate Services and EliminationsTotal
(In thousands)
Aggregates$244,011$95,203$208,751$—$—$547,965
Ready-mix concrete255,978111,566283,938——651,482
Asphalt109,078108,764151,651——369,493
Liquid asphalt———256,611—256,611
Other138,8962,41829,61145,14711,395227,467
Contracting services public-sector234,097322,727387,506——944,330
Contracting services private-sector71,920112,72729,886——214,533
Internal sales(188,856)(127,628)(206,556)(53,609)(10,913)(587,562)
Revenues from contracts with customers$865,124$625,777$884,787$248,149$482$2,624,319

Index

Nine Months Ended September 30, 2025WestMountainCentralEnergy ServicesCorporate Services and EliminationsTotal
(In thousands)
Aggregates$222,339$72,216$170,836$—$—$465,391
Ready-mix concrete258,31390,915226,586——575,814
Asphalt109,08571,500146,818——327,403
Liquid asphalt———246,888—246,888
Other133,9931127,20842,75410,486214,452
Contracting services public-sector269,125240,349341,949——851,423
Contracting services private-sector90,07473,87621,315——185,265
Internal sales(162,163)(77,082)(177,481)(48,946)(10,016)(475,688)
Revenues from contracts with customers$920,766$471,785$757,231$240,696$470$2,390,948
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