Knife River Corp

For the period ended Dec 31, 2024. Filed Feb 21, 2025.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Feb 21, 2025

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

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Contents

4. Disaggregation of Revenue

Index

Note 4 –Revenue from contracts with customers

In the following table, revenue is disaggregated by category for each reportable segment. Webelieve this level of disaggregation best depicts how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors. Revenue for contracting services is recognized over time while revenue for construction materials is recognized at a point in time. For more information on our reportable segments, see Note 15.

Presented in the following tables are the 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 the contracting services to arrive at the external operating revenues.

Year ended December 31, 2024	Pacific	Northwest	Mountain	Central	Energy Services	Corporate Services	Total
(In thousands)
Aggregates	$112,343	$184,830	$101,810	$157,165	$—	$—	$556,148
Ready-mix concrete	145,753	167,779	117,108	224,803	—	—	655,443
Asphalt	30,651	104,655	120,827	185,305	—	—	441,438
Liquid asphalt	—	—	—	—	238,939	—	238,939
Other	149,317	18,044	36	31,734	50,585	16,104	265,820
Contracting services publicsector	101,692	249,685	360,790	410,072	—	—	1,122,239
Contracting services privatesector	40,194	75,090	98,268	22,465	—	—	236,017
Internal sales	(86,884)	(110,190)	(135,947)	(213,672)	(54,872)	(15,474)	(617,039)
Revenues from contracts with customers	$493,066	$689,893	$662,892	$817,872	$234,652	$630	$2,899,005

Index

Year ended December 31, 2023	Pacific	Northwest	Mountain	Central	Energy Services	Corporate Services	Total
(In thousands)
Aggregates	$104,726	$189,946	$100,505	$152,691	$—	$—	$547,868
Ready-mix concrete	142,291	163,382	120,534	227,735	—	—	653,942
Asphalt	32,178	103,327	112,897	204,018	—	—	452,420
Liquid asphalt	—	—	—	—	253,196	—	253,196
Other	142,742	15,751	16	28,745	49,363	12,414	249,031
Contracting services publicsector	71,362	197,372	308,711	426,318	—	—	1,003,763
Contracting services privatesector	54,978	103,011	124,282	21,276	—	—	303,547
Internal sales	(86,115)	(109,108)	(133,328)	(235,875)	(57,373)	(11,618)	(633,417)
Revenues from contracts with customers	$462,162	$663,681	$633,617	$824,908	$245,186	$796	$2,830,350

Year ended December 31, 2022	Pacific	Northwest	Mountain	Central	Energy Services	Corporate Services	Total
(In thousands)
Aggregates	$92,266	$171,633	$83,343	$149,419	$—	$—	$496,661
Ready-mix concrete	127,569	157,951	106,654	217,335	—	—	609,509
Asphalt	35,735	97,299	93,263	201,171	—	—	427,468
Liquid asphalt	—	—	—	—	207,474	—	207,474
Other	114,079	14,844	36	24,956	45,245	618	199,778
Contracting services publicsector	81,989	173,981	249,573	412,487	—	—	918,030
Contracting services privatesector	47,497	88,713	119,136	14,345	—	—	269,691
Internal sales	(81,105)	(105,647)	(110,095)	(242,563)	(54,006)	(466)	(593,882)
Revenues from contracts with customers	$418,030	$598,774	$541,910	$777,150	$198,713	$152	$2,534,729

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