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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4. Revenue from Contracts with Customers
Index
Note 4 –Revenue from Contracts with Customers
In the following table, revenue is disaggregated by category for each reportable segment. We believe 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, 2025 | West | Mountain | Central | Energy Services | Corporate Services | Total |
|---|---|---|---|---|---|---|
| Aggregates | $296,260 | $95,220 | $225,646 | $— | $— | $617,126 |
| Ready-mix concrete | 346,736 | 124,536 | 308,152 | — | — | 779,424 |
| Asphalt | 131,796 | 99,023 | 190,163 | — | — | 420,982 |
| Liquid asphalt | — | — | — | 296,032 | — | 296,032 |
| Other | 177,240 | 12 | 35,154 | 53,523 | 13,888 | 279,817 |
| Contracting services publicsector | 349,310 | 330,390 | 445,169 | — | — | 1,124,869 |
| Contracting services privatesector | 121,041 | 105,293 | 32,677 | — | — | 259,011 |
| Internal sales | (213,670) | (110,632) | (232,407) | (61,276) | (13,264) | (631,249) |
| Revenues from contracts with customers | $1,208,713 | $643,842 | $1,004,554 | $288,279 | $624 | $3,146,012 |
| Year ended December 31, 2024 | West | Mountain | Central | Energy Services | Corporate Services | Total |
|---|---|---|---|---|---|---|
| Aggregates | $297,173 | $101,810 | $157,165 | $— | $— | $556,148 |
| Ready-mix concrete | 313,532 | 117,108 | 224,803 | — | — | 655,443 |
| Asphalt | 135,306 | 120,827 | 185,305 | — | — | 441,438 |
| Liquid asphalt | — | — | — | 238,939 | — | 238,939 |
| Other | 167,361 | 36 | 31,734 | 50,585 | 16,104 | 265,820 |
| Contracting services publicsector | 351,377 | 360,790 | 410,072 | — | — | 1,122,239 |
| Contracting services privatesector | 115,284 | 98,268 | 22,465 | — | — | 236,017 |
| Internal sales | (197,074) | (135,947) | (213,672) | (54,872) | (15,474) | (617,039) |
| Revenues from contracts with customers | $1,182,959 | $662,892 | $817,872 | $234,652 | $630 | $2,899,005 |
Index
| Year ended December 31, 2023 | West | Mountain | Central | Energy Services | Corporate Services | Total |
|---|---|---|---|---|---|---|
| Aggregates | $294,672 | $100,505 | $152,691 | $— | $— | $547,868 |
| Ready-mix concrete | 305,673 | 120,534 | 227,735 | — | — | 653,942 |
| Asphalt | 135,505 | 112,897 | 204,018 | — | — | 452,420 |
| Liquid asphalt | — | — | — | 253,196 | — | 253,196 |
| Other | 158,493 | 16 | 28,745 | 49,363 | 12,414 | 249,031 |
| Contracting services publicsector | 268,734 | 308,711 | 426,318 | — | — | 1,003,763 |
| Contracting services privatesector | 157,989 | 124,282 | 21,276 | — | — | 303,547 |
| Internal sales | (195,223) | (133,328) | (235,875) | (57,373) | (11,618) | (633,417) |
| Revenues from contracts with customers | $1,125,843 | $633,617 | $824,908 | $245,186 | $796 | $2,830,350 |
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