Knife River Corp
For the period ended Dec 31, 2025. Filed Feb 20, 2026.
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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.
FY2025 · Filed Feb 20, 2026
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, | 2025 | 2024 | 2023 |
|---|---|---|---|
| (In thousands) | |||
| Operating activities: | |||
| Net income | $157,074 | $201,678 | $182,872 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation, depletion and amortization | 193,740 | 136,871 | 123,805 |
| Deferred income taxes | 25,491 | (350) | (1,606) |
| Provision for credit losses | 2,445 | 1,099 | 2,001 |
| Amortization of debt issuance costs | 3,724 | 2,762 | 3,115 |
| Stock-based compensation costs | 11,394 | 7,826 | 2,888 |
| Pension and postretirement benefit plan net periodic benefit cost | 1,239 | 1,628 | 1,182 |
| Unrealized gains on investments | (2,939) | (2,918) | (2,202) |
| Gains on sale of assets | (21,777) | (9,215) | (27) |
| Gain on bargain purchase | (3,547) | — | — |
| Equity in unconsolidated affiliates | (259) | (279) | (286) |
| Changes in current assets and liabilities, net of acquisitions: | |||
| Receivables | (44,037) | 14,061 | (54,817) |
| Due from related-party | — | — | 16,050 |
| Inventories | (13,444) | (44,303) | 3,654 |
| Other current assets | (9,050) | 10,907 | (19,556) |
| Accounts payable | (14,991) | 7,308 | 33,092 |
| Due to related-party | — | — | (7,310) |
| Other current liabilities | (9,298) | (4,003) | 48,977 |
| Pension and postretirement benefit plan contributions | (570) | (2,651) | (1,756) |
| Other noncurrent changes | 3,280 | 1,903 | 5,650 |
| Net cash provided by operating activities | 278,475 | 322,324 | 335,726 |
| Investing activities: | |||
| Capital expenditures | (348,041) | (172,427) | (124,283) |
| Acquisitions, net of cash acquired | (609,994) | (130,981) | — |
| Net proceeds from sale or disposition of property and other | 47,472 | 11,996 | 8,284 |
| Investments | (3,097) | (3,389) | (1,890) |
| Net cash used in investing activities | (913,660) | (294,801) | (117,889) |
| Financing activities: | |||
| Issuance of long-term related-party notes, net | — | — | 205,275 |
| Issuance of long-term debt | 500,000 | — | 700,000 |
| Repayment of long-term debt | (8,808) | (7,036) | (3,653) |
| Debt issuance costs | (11,070) | — | (16,640) |
| Tax withholding on stock-based compensation | (2,653) | (1,673) | — |
| Net transfers to Centennial | — | — | (850,589) |
| Net cash provided by (used in) financing activities | 477,469 | (8,709) | 34,393 |
| Increase (decrease) in cash, cash equivalents and restricted cash | (157,716) | 18,814 | 252,230 |
| Cash, cash equivalents and restricted cash - beginning of year | 281,134 | 262,320 | 10,090 |
| Cash, cash equivalents and restricted cash - end of year | $123,418 | $281,134 | $262,320 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.