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 investments | 16 | 87 | 21 | 9 | 6 | 10 | |||
| Cash and cash equivalent | 16 | 87 | 21 | 9 | 6 | 10 | |||
| Restricted cash and investments | 7 | 6 | 6 | 5 | 4 | 4 | |||
| Receivables | 371 | 369 | 526 | 340 | 285 | 272 | |||
| Inventory, net of allowances, customer advances and progress billings | 154 | 161 | 207 | 151 | 117 | 117 | |||
| Inventory | 154 | 161 | 207 | 151 | 117 | 117 | |||
| Derivative instruments and hedges, assets | 1 | 4 | 2 | 0 | |||||
| Regulatory asset | 155 | 176 | 260 | 270 | 52 | 43 | |||
| Other current assets | 39 | 28 | 51 | 29 | 26 | 26 | |||
| Total current assets: | 742 | 827 | 1,072 | 808 | 493 | 473 | |||
| Noncurrent Assets | |||||||||
| Property, plant and equipment | 7,630 | 7,119 | 6,798 | 6,449 | 6,020 | 5,503 | |||
| Long-term investments and receivables | 22 | ||||||||
| Long-term investments | 22 | ||||||||
| Intangible assets, net (including goodwill) | 1,307 | 1,308 | 1,309 | 1,310 | 1,311 | 1,313 | |||
| Goodwill | 1,300 | 1,300 | 1,299 | 1,299 | 1,299 | 1,299 | |||
| Intangible assets, net (excluding goodwill) | 8 | 8 | 10 | 11 | 12 | 13 | |||
| Regulated entity, other noncurrent assets | 273 | 304 | 393 | 526 | 227 | 228 | |||
| Other noncurrent assets | 70 | 62 | 47 | 38 | 38 | 19 | |||
| Total noncurrent assets: | 9,280 | 8,794 | 8,547 | 8,324 | 7,595 | 7,085 | |||
| TOTAL ASSETS: | 10,023 | 9,620 | 9,618 | 9,132 | 8,089 | 7,558 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 531 | 480 | 553 | 463 | 427 | 420 | |||
| Accounts payable | 229 | 186 | 310 | 218 | 183 | 194 | |||
| Accrued liabilities | 302 | 293 | 243 | 245 | 244 | 227 | |||
| Debt | 134 | 600 | 1,061 | 420 | 242 | 355 | |||
| Derivative instruments and hedges, liabilities | 4 | 7 | 7 | 1 | 2 | 2 | |||
| Regulatory liability | 94 | 99 | 46 | 18 | 25 | 34 | |||
| Total current liabilities: | 763 | 1,185 | 1,667 | 902 | 697 | 811 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 4,250 | 3,801 | 3,607 | 4,127 | 3,528 | 3,140 | |||
| Long-term debt, excluding current maturities | 4,250 | 3,801 | 3,607 | 4,127 | 3,528 | 3,140 | |||
| Liabilities, other than long-term debt | 1,424 | 1,328 | 1,254 | 1,216 | 1,202 | 1,143 | |||
| Deferred income tax liabilities | 625 | 548 | 509 | 465 | 409 | 361 | |||
| Liability, pension and other postretirement and postemployment benefits | 123 | 124 | 117 | 124 | 151 | 154 | |||
| Regulatory liability | 475 | 468 | 473 | 485 | 508 | 503 | |||
| Other liabilities | 201 | 189 | 156 | 141 | 135 | 125 | |||
| Total noncurrent liabilities: | 5,674 | 5,130 | 4,862 | 5,343 | 4,730 | 4,283 | |||
| Total liabilities: | 6,437 | 6,315 | 6,528 | 6,245 | 5,426 | 5,094 | |||
| Equity | |||||||||
| Equity, attributable to parent | 3,502 | 3,215 | 2,995 | 2,787 | 2,561 | 2,362 | |||
| Common stock | 72 | 68 | 66 | 65 | 63 | 61 | |||
| Treasury stock, value | (3) | (4) | (2) | (4) | (2) | (0) | |||
| Additional paid in capital | 2,193 | 2,008 | 1,883 | 1,783 | 1,657 | 1,553 | |||
| Accumulated other comprehensive loss | (9) | (15) | (16) | (20) | (27) | (31) | |||
| Retained earnings | 1,249 | 1,158 | 1,064 | 962 | 871 | 779 | |||
| Equity, attributable to noncontrolling interest | 84 | 91 | 95 | 100 | 101 | 102 | |||
| Total equity: | 3,585 | 3,306 | 3,090 | 2,887 | 2,663 | 2,464 | |||
| TOTAL LIABILITIES AND EQUITY: | 10,023 | 9,620 | 9,618 | 9,132 | 8,089 | 7,558 | |||
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 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 2,128 | 2,331 | 2,552 | 1,949 | 1,697 | 1,735 | ||
| Gross profit: | 2,128 | 2,331 | 2,552 | 1,949 | 1,697 | 1,735 | ||
| Operating expenses | (1,625) | (1,859) | (2,097) | (1,540) | (1,269) | (1,329) | ||
| Operating income: | 503 | 473 | 455 | 409 | 428 | 406 | ||
| Nonoperating expense | (183) | (171) | (159) | (151) | (153) | (4) | ||
| Investment income, nonoperating | 14 | 12 | 2 | 2 | 1 | 2 | ||
| Other nonoperating income (expense) | (1) | (3) | 2 | 1 | (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: | 320 | 134 | 135 | 106 | 276 | 243 | ||
| Other undisclosed income from continuing operations before income taxes | 168 | 161 | 152 | |||||
| Income from continuing operations before income taxes: | 320 | 302 | 296 | 258 | 276 | 243 | ||
| Income tax expense | (36) | (26) | (25) | (7) | (33) | (30) | ||
| Income from continuing operations: | 284 | 276 | 271 | 251 | 243 | 213 | ||
| Income before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | ✕ | 251 | 243 | 213 | |
| Net income: | 284 | 276 | 271 | 251 | 243 | 213 | ||
| Net loss attributable to noncontrolling interest | (11) | (14) | (12) | (15) | (15) | (14) | ||
| Net income available to common stockholders, diluted: | 273 | 262 | 258 | 237 | 228 | 199 | ||
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: | 284 | 276 | 271 | 251 | 243 | 213 | ||
| Other comprehensive income (loss) | 5 | 1 | 5 | 7 | 3 | (4) | ||
| Comprehensive income: | 289 | 277 | 275 | 259 | 246 | 210 | ||
| Comprehensive loss, net of tax, attributable to noncontrolling interest | (11) | (14) | (12) | (15) | (15) | (14) | ||
| Comprehensive income, net of tax, attributable to parent: | 279 | 263 | 263 | 244 | 231 | 196 | ||
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.