Black Hills Corporation (BKH) Financial Statements (2025 and earlier)

Company Profile

Business Address 7001 MT RUSHMORE RD
RAPID CITY, SD 57709
State of Incorp. SD
Fiscal Year End December 31
Industry (SIC) 4911 - Electric Services (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in millions)

3/31/2025
MRQ
12/31/2024
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1687219610
Cash and cash equivalent1687219610
Restricted cash and investments766544
Receivables371369526340285272
Inventory, net of allowances, customer advances and progress billings154161207151117117
Inventory154161207151117117
Derivative instruments and hedges, assets  1420
Regulatory asset1551762602705243
Other current assets392851292626
Total current assets:7428271,072808493473
Noncurrent Assets
Property, plant and equipment7,6307,1196,7986,4496,0205,503
Long-term investments and receivables      22
Long-term investments      22
Intangible assets, net (including goodwill)1,3071,3081,3091,3101,3111,313
Goodwill1,3001,3001,2991,2991,2991,299
Intangible assets, net (excluding goodwill)8810111213
Regulated entity, other noncurrent assets273304393526227228
Other noncurrent assets706247383819
Total noncurrent assets:9,2808,7948,5478,3247,5957,085
TOTAL ASSETS:10,0239,6209,6189,1328,0897,558
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities531480553463427420
Accounts payable229186310218183194
Accrued liabilities302293243245244227
Debt1346001,061420242355
Derivative instruments and hedges, liabilities 477122
Regulatory liability949946182534
Total current liabilities:7631,1851,667902697811
Noncurrent Liabilities
Long-term debt and lease obligation4,2503,8013,6074,1273,5283,140
Long-term debt, excluding current maturities4,2503,8013,6074,1273,5283,140
Liabilities, other than long-term debt1,4241,3281,2541,2161,2021,143
Deferred income tax liabilities625548509465409361
Liability, pension and other postretirement and postemployment benefits123124117124151154
Regulatory liability475468473485508503
Other liabilities201189156141135125
Total noncurrent liabilities:5,6745,1304,8625,3434,7304,283
Total liabilities:6,4376,3156,5286,2455,4265,094
Equity
Equity, attributable to parent3,5023,2152,9952,7872,5612,362
Common stock726866656361
Treasury stock, value(3)(4)(2)(4)(2)(0)
Additional paid in capital2,1932,0081,8831,7831,6571,553
Accumulated other comprehensive loss(9)(15)(16)(20)(27)(31)
Retained earnings1,2491,1581,064962871779
Equity, attributable to noncontrolling interest849195100101102
Total equity:3,5853,3063,0902,8872,6632,464
TOTAL LIABILITIES AND EQUITY:10,0239,6209,6189,1328,0897,558

Income Statement (P&L) ($ in millions)

3/31/2025
TTM
12/31/2024
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
Revenues2,1282,3312,5521,9491,6971,735
Gross profit:2,1282,3312,5521,9491,6971,735
Operating expenses(1,625)(1,859)(2,097)(1,540)(1,269)(1,329)
Operating income:503473455409428406
Nonoperating expense(183)(171)(159)(151)(153)(4)
Investment income, nonoperating14122212
Other nonoperating income (expense)(1)(3)21(2)(6)
Interest and debt expense  (168)(161)(152)(143)(138)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes     143(21)
Income from continuing operations before equity method investments, income taxes:320134135106276243
Other undisclosed income from continuing operations before income taxes  168161152  
Income from continuing operations before income taxes:320302296258276243
Income tax expense(36)(26)(25)(7)(33)(30)
Income from continuing operations:284276271251243213
Income before gain (loss) on sale of properties:251243213
Net income:284276271251243213
Net loss attributable to noncontrolling interest(11)(14)(12)(15)(15)(14)
Net income available to common stockholders, diluted:273262258237228199

Comprehensive Income ($ in millions)

3/31/2025
TTM
12/31/2024
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
Net income:284276271251243213
Other comprehensive income (loss)51573(4)
Comprehensive income:289277275259246210
Comprehensive loss, net of tax, attributable to noncontrolling interest(11)(14)(12)(15)(15)(14)
Comprehensive income, net of tax, attributable to parent:279263263244231196

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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