Knife River Corp
For the period ended Dec 31, 2024. Filed Feb 21, 2025.
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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
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
Index
Consolidated Statements of Cash Flows
| Years ended December 31, | 2024 | 2023 | 2022 |
|---|---|---|---|
| (In thousands) | |||
| Operating activities: | |||
| Net income | $201,678 | $182,872 | $116,220 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation, depletion and amortization | 136,871 | 123,805 | 117,798 |
| Deferred income taxes | (350) | (1,606) | 2,078 |
| Provision for credit losses | 1,099 | 2,001 | 538 |
| Amortization of debt issuance costs | 2,762 | 3,115 | 483 |
| Stock-based compensation costs | 7,826 | 2,888 | 1,272 |
| Pension and postretirement benefit plan net periodic benefit cost | 1,628 | 1,182 | 1,306 |
| Unrealized (gains) losses on investments | (2,918) | (2,202) | 2,525 |
| Gains on sale of assets | (9,215) | (27) | (14,092) |
| Equity in (loss) earnings of unconsolidated affiliates | (279) | (286) | 438 |
| Changes in current assets and liabilities, net of acquisitions: | |||
| Receivables | 14,061 | (54,817) | (32,506) |
| Due from related-party | — | 16,050 | (8,004) |
| Inventories | (44,303) | 3,654 | (31,033) |
| Other current assets | 10,907 | (19,556) | 44 |
| Accounts payable | 7,308 | 33,092 | 17,489 |
| Due to related-party | — | (7,310) | 3,578 |
| Other current liabilities | (4,003) | 48,977 | 21,417 |
| Pension and postretirement benefit plan contributions | (2,651) | (1,756) | (426) |
| Other noncurrent changes | 1,903 | 5,650 | 8,319 |
| Net cash provided by operating activities | 322,324 | 335,726 | 207,444 |
| Investing activities: | |||
| Capital expenditures | (172,427) | (124,283) | (178,162) |
| Acquisitions, net of cash acquired | (130,981) | — | 1,745 |
| Net proceeds from sale or disposition of property and other | 11,996 | 8,284 | 22,878 |
| Investments | (3,389) | (1,890) | (2,339) |
| Net cash used in investing activities | (294,801) | (117,889) | (155,878) |
| Financing activities: | |||
| Issuance of current related-party notes | — | — | 208,000 |
| Issuance (repayment) of long-term related-party notes, net | — | 205,275 | (207,007) |
| Issuance of long-term debt | — | 700,000 | — |
| Repayment of long-term debt | (7,036) | (3,653) | (298) |
| Debt issuance costs | — | (16,640) | (807) |
| Tax withholding on stock-based compensation | (1,673) | — | — |
| Net transfers to Centennial | — | (850,589) | (55,212) |
| Net cash provided by (used in) financing activities | (8,709) | 34,393 | (55,324) |
| Increase (decrease) in cash, cash equivalents and restricted cash | 18,814 | 252,230 | (3,758) |
| Cash, cash equivalents and restricted cash - beginning of year | 262,320 | 10,090 | 13,848 |
| Cash, cash equivalents and restricted cash - end of year | $281,134 | $262,320 | $10,090 |
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