Knife River Corp

For the period ended Sep 30, 2024. Filed Nov 4, 2024.

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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, 2024 · Filed Nov 4, 2024

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

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Contents

12. Debt

Note 12 -Debt

Certain debt instruments of the Company 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 the Company, as applicable, was in compliance with at September 30, 2024. 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 atSeptember 30, 2024	September 30, 2024	September 30, 2023	December 31, 2023
(In thousands)
Term loan agreement due on May 31, 2028	6.45%	$266,406	$273,281	$271,562
Senior notes due on May 1, 2031	7.75%	425,000	425,000	425,000
Other notes due on January 1, 2061	—%	311	466	423
Less unamortized debt issuance costs		13,254	16,016	15,326
Total long-term debt		678,463	682,731	681,659
Less current maturities		8,791	7,082	7,082
Net long-term debt		$669,672	$675,649	$674,577

Schedule of Debt Maturities Long-term debt maturities, which excludes unamortized debt issuance costs, at September 30, 2024, were as follows:

	Remainder of2024	2025	2026	2027	2028	Thereafter
(In thousands)
Long-term debt maturities	$1,916	$10,425	$13,750	$17,188	$223,438	$425,000

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