Knife River Corp
For the period ended Mar 31, 2024. Filed May 7, 2024.
View on SEC.govAbout 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.
Mar 31, 2024 · Filed May 7, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
16. Related-party transactions
Note 16 -Related-party transactions
Transition services agreements
As part of the Separation, MDU Resources is providing transition services to Knife River and Knife River is providing transition services to MDU Resources in accordance with the Transition Services Agreement entered into on May 30, 2023. For the three months ended March 31, 2024, the Company paid $816,000 related to these activities, which were reflected in selling, general and administrative expenses on the Consolidated Statements of Operations. For the three months ended March 31, 2024, the Company received $76,000 related to these activities, which were reflected in other income on the Consolidated Statements of Operations. The majority of the transition services are expected to be completed over a period ofone year, but no longer thantwo years after the Separation.
For additional information on the presentation of related-party transactions, see Note 2.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.