Knife River Corp

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

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, 2024 · Filed Nov 4, 2024

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

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Contents

3. New accounting standards

Index

Note 3 -New accounting standards

The following table provides a brief description of the accounting pronouncements applicable to Knife River and the potential impact on its consolidated financial statements and/or disclosures:

Recently issued Financial Accounting Standards Board (FASB) accounting standards updates ("ASU") not yet adopted
Standard	Description	Standard Effective Date	Impact on financial statements/disclosures
ASU 2023-07 - Improvements to Reportable Segment Disclosures	In November 2023, the FASB issued guidance on modifying the disclosure requirements to improve reportable segment disclosure requirements through enhanced disclosures about significant segment expenses. The guidance also expands the interim disclosure requirements. The guidance is to be applied on a retrospective basis to the financial statements and footnotes and early adoption is permitted.	Fiscal periods beginning after December 15, 2023 and interim periods beginning after December 31, 2024	The Company is currently evaluating the impact the guidance will have on its disclosures for the year ended December 31, 2024 and interim periods for fiscal year 2025.
ASU 2023-09 - Improvements to Income Tax Disclosures	In December 2023, the FASB issued guidance on modifying the disclosure requirements to increase transparency about income tax information through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid information. The guidance is to be applied on a prospective basis to the financial statements and footnotes, however, retrospective adoption is also permitted. The guidance also permits early adoption.	Fiscal periods beginning after December 15, 2024	The Company is electing to early adopt the guidance for the year ended December 31, 2024, on a retrospective basis. The Company has reviewed the impact to its disclosures and although not material, will have updates to the income tax footnote.

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