Knife River Corp
For the period ended Dec 31, 2025. Filed Feb 20, 2026.
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FY2025 · Filed Feb 20, 2026
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11. Asset Retirement Obligations
Index
Note 11 –Asset Retirement Obligations
We have asset retirement obligations, which are liabilities associated with our legally required obligations to reclaim owned and leased aggregate properties, asphalt plant sites, ready-mix plant sites and other properties. For the years ended December 31, 2025 and 2024, the current portion of our liability, which is included in other accrued liabilities, was $14.2 million and $7.1 million, respectively. The noncurrent amount, which is included in other liabilities, was $64.6 million and $52.3 million, respectively. Total accretion and depreciation expenses for the years ended December 31, 2025, 2024 and 2023, were $9.9 million, $3.4 million and $2.6 million, respectively, and are included in cost of revenue on the Consolidated Statements of Operations. A reconciliation of our liability for the years ended December 31 was as follows:
| 2025 | 2024 | |
|---|---|---|
| (In thousands) | ||
| Balance at beginning of year | $59,430 | $41,782 |
| Revisions in estimated cash flows | 634 | 12,929 |
| Liabilities incurred | 17,354 | 3,509 |
| Liabilities settled | (2,113) | (999) |
| Accretion expense | 3,465 | 2,209 |
| Balance at end of year | $78,770 | $59,430 |
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