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Knife River Corp

For the period ended Jun 30, 2024. Filed Aug 6, 2024.

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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.

Jun 30, 2024 · Filed Aug 6, 2024

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

Index

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. Knife River is 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 revenue is recognized over time using an input method based on the cost-to-cost measure of progress on a project.

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 14.

Three Months Ended June 30, 2024PacificNorthwestMountainCentralEnergy ServicesCorporate Services and EliminationsTotal
(In thousands)
Aggregates$31,259$53,061$31,138$42,943$—$—$158,401
Ready-mix concrete36,66745,66034,96762,225——179,519
Asphalt8,62232,52932,86045,268——119,279
Liquid asphalt————65,304—65,304
Other42,3575,574710,87514,3864,51177,710
Contracting services public-sector20,71371,29990,023102,820——284,855
Contracting services private-sector14,22225,59641,5525,549——86,919
Internal sales(22,013)(33,494)(36,778)(55,077)(13,447)(4,272)(165,081)
Revenues from contracts with customers$131,827$200,225$193,769$214,603$66,243$239$806,906
Three Months Ended June 30, 2023PacificNorthwestMountainCentralEnergy ServicesCorporate Services and EliminationsTotal
(In thousands)
Aggregates$27,446$47,966$28,866$42,138$—$—$146,416
Ready-mix concrete40,52644,58334,50665,283——184,898
Asphalt6,27534,51829,47254,672——124,937
Liquid asphalt————72,920—72,920
Other39,8024,335810,90913,8491,34170,244
Contracting services public-sector16,84853,30180,381114,025——264,555
Contracting services private-sector16,57529,35337,3175,637——88,882
Internal sales(22,393)(35,322)(34,796)(61,630)(13,706)184(167,663)
Revenues from contracts with customers$125,079$178,734$175,754$231,034$73,063$1,525$785,189
Six Months Ended June 30, 2024PacificNorthwestMountainCentralEnergy ServicesCorporate Services and EliminationsTotal
(In thousands)
Aggregates$50,809$92,459$40,592$58,814$—$—$242,674
Ready-mix concrete67,88777,43648,80385,248——279,374
Asphalt10,96940,76633,69050,326——135,751
Liquid asphalt————76,340—76,340
Other67,6869,1471312,77317,4489,654116,721
Contracting services public-sector26,188107,343115,882123,853——373,266
Contracting services private-sector22,29640,62855,3555,724——124,003
Internal sales(35,621)(48,402)(40,740)(61,173)(16,428)(9,269)(211,633)
Revenues from contracts with customers$210,214$319,377$253,595$275,565$77,360$385$1,136,496

Index

Six Months Ended June 30, 2023PacificNorthwestMountainCentralEnergy ServicesCorporate Services and EliminationsTotal
(In thousands)
Aggregates$46,143$90,540$38,532$54,722$—$—$229,937
Ready-mix concrete66,67078,48848,87687,633——281,667
Asphalt7,59141,44530,28259,238——138,556
Liquid asphalt————81,206—81,206
Other63,2227,0161112,49516,0401,767100,551
Contracting services public-sector20,81970,304108,619136,885——336,627
Contracting services private-sector19,47455,11550,7626,442——131,793
Internal sales(33,197)(48,254)(40,710)(68,761)(15,928)(398)(207,248)
Revenues from contracts with customers$190,722$294,654$236,372$288,654$81,318$1,369$1,093,089
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.