Otter Tail Corporation (OTTR) Financial Statements (2024 and earlier)
Company Profile
| Business Address |
215 S CASCADE ST FERGUS FALLS, MN 56538-0496 |
| State of Incorp. | MN |
| 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 thousands)Annual | Quarterly
| 12/31/2023 Q4 | 9/30/2023 Q3 | 6/30/2023 Q2 | 3/31/2023 Q1 | 12/31/2022 Q4 | 9/30/2022 Q3 | 6/30/2022 Q2 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 189,214 | 150,578 | 104,080 | 118,996 | 72,987 | 61,989 | |||
| Cash and cash equivalents | 189,214 | 150,578 | 104,080 | 118,996 | 72,987 | 61,989 | |||
| Receivables | 195,162 | 197,165 | 177,633 | 146,041 | 195,345 | 227,595 | |||
| Inventory, net of allowances, customer advances and progress billings | 142,007 | 144,441 | 144,767 | 145,952 | 146,376 | 146,964 | |||
| Inventory | 142,007 | 144,441 | 144,767 | 145,952 | 146,376 | 146,964 | |||
| Regulatory asset | 17,041 | 19,058 | 16,566 | 24,999 | 29,921 | 20,675 | |||
| Other current assets | 15,313 | 15,084 | 13,510 | 18,412 | 17,412 | 15,923 | |||
| Other undisclosed current assets | (1,987) | (2,214) | (2,191) | (1,648) | (1,548) | (1,757) | |||
| Total current assets: | 556,750 | 524,112 | 454,365 | 452,752 | 460,493 | 471,389 | |||
| Noncurrent Assets | |||||||||
| Property, plant and equipment | 2,387,260 | 2,316,246 | 2,289,491 | 2,212,717 | 2,186,643 | 2,149,919 | |||
| Long-term investments and receivables | 59,322 | 59,882 | 58,058 | 54,845 | 52,966 | 53,555 | |||
| Long-term investments | 59,322 | 59,882 | 58,058 | 54,845 | 52,966 | 53,555 | |||
| Intangible assets, net (including goodwill) | 44,690 | 44,965 | 45,240 | 45,515 | 45,790 | 46,065 | |||
| Goodwill | 37,572 | 37,572 | 37,572 | 37,572 | 37,572 | 37,572 | |||
| Intangible assets, net (excluding goodwill) | 7,118 | 7,393 | 7,668 | 7,943 | 8,218 | 8,493 | |||
| Regulated entity, other noncurrent assets | 89,491 | 96,128 | 97,179 | 94,655 | 116,593 | 121,954 | |||
| Other noncurrent assets | 49,956 | 52,653 | 43,077 | 41,177 | 35,419 | 32,618 | |||
| Total noncurrent assets: | 2,630,719 | 2,569,874 | 2,533,045 | 2,448,909 | 2,437,411 | 2,404,111 | |||
| TOTAL ASSETS: | 3,187,469 | 3,093,986 | 2,987,410 | 2,901,661 | 2,897,904 | 2,875,500 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 185,840 | 162,590 | 137,107 | 156,067 | 228,173 | 226,967 | |||
| Taxes payable | ✕ | ✕ | ✕ | ✕ | ✕ | 25,635 | 22,037 | ||
| Employee-related liabilities | ✕ | ✕ | ✕ | ✕ | ✕ | 27,454 | 24,803 | ||
| Accounts payable | 103,118 | 104,661 | 93,543 | 104,400 | 121,995 | 133,287 | |||
| Accrued liabilities | 82,722 | 57,929 | 43,564 | 51,667 | 53,089 | 46,840 | |||
| Debt | 51,495 | 50,197 | 60,854 | 8,204 | 29,996 | ||||
| Regulatory liability | 32,285 | 41,743 | 20,526 | 17,300 | 21,114 | 19,458 | |||
| Other liabilities | 40,413 | 46,032 | 43,977 | 56,065 | 45,655 | 58,572 | |||
| Other undisclosed current liabilities | (53,089) | (46,840) | |||||||
| Total current liabilities: | 310,033 | 300,562 | 262,464 | 237,636 | 241,853 | 288,153 | |||
| Noncurrent Liabilities | |||||||||
| Liabilities, other than long-term debt | 650,509 | 641,044 | 637,287 | 622,887 | 648,268 | 647,105 | |||
| Accumulated deferred investment tax credit | 15,358 | 15,544 | 15,730 | 15,916 | 16,102 | 16,288 | |||
| Deferred income tax liabilities | 234,787 | 231,910 | 230,393 | 221,302 | 212,838 | 213,919 | |||
| Liability, pension and other postretirement and postemployment benefits | 59,184 | 80,562 | 80,654 | 80,187 | 117,841 | 118,448 | |||
| Regulatory liability | 275,809 | 245,935 | 245,071 | 244,497 | 240,545 | 235,456 | |||
| Other liabilities | 65,371 | 67,093 | 65,439 | 60,985 | 60,942 | 62,994 | |||
| Total noncurrent liabilities: | 650,509 | 641,044 | 637,287 | 622,887 | 648,268 | 647,105 | |||
| Total liabilities: | 960,542 | 941,606 | 899,751 | 860,523 | 890,121 | 935,258 | |||
| Equity | |||||||||
| Equity, attributable to parent | 1,402,929 | 1,328,439 | 1,263,777 | 1,217,317 | 1,184,023 | 1,116,543 | |||
| Common stock | 208,553 | 208,553 | 208,423 | 208,156 | 208,155 | 208,154 | |||
| Additional paid in capital | 426,358 | 425,867 | 424,948 | 423,034 | 422,448 | 421,951 | |||
| Accumulated other comprehensive income (loss) | 1,174 | 881 | 969 | 915 | (6,978) | (6,913) | |||
| Retained earnings | 766,844 | 693,138 | 629,437 | 585,212 | 560,398 | 493,351 | |||
| Total equity: | 1,402,929 | 1,328,439 | 1,263,777 | 1,217,317 | 1,184,023 | 1,116,543 | |||
| Other undisclosed liabilities and equity | 823,998 | 823,941 | 823,882 | 823,821 | 823,760 | 823,699 | |||
| TOTAL LIABILITIES AND EQUITY: | 3,187,469 | 3,093,986 | 2,987,410 | 2,901,661 | 2,897,904 | 2,875,500 | |||
Income Statement (P&L) ($ in thousands)Annual | Quarterly
| 12/31/2023 Q4 | 9/30/2023 Q3 | 6/30/2023 Q2 | 3/31/2023 Q1 | 12/31/2022 Q4 | 9/30/2022 Q3 | 6/30/2022 Q2 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 358,056 | 337,716 | 339,081 | 310,675 | 383,856 | 400,040 | ||
| Cost of revenue | (220,577) | (213,593) | (234,412) | (233,831) | (250,599) | (261,122) | ||
| Cost of goods and services sold | (118,303) | (120,658) | (112,369) | (99,358) | (139,361) | (152,466) | ||
| Gross profit: | 137,479 | 124,123 | 104,669 | 76,844 | 133,257 | 138,918 | ||
| Operating expenses | (16,363) | (18,070) | (23,999) | (12,637) | (17,124) | (17,852) | ||
| Other undisclosed operating loss | (9,266) | |||||||
| Operating income: | 121,116 | 106,053 | 80,670 | 54,941 | 116,133 | 121,066 | ||
| Nonoperating income (expense) | 4,760 | 5,674 | 4,530 | 3,090 | (122) | (138) | ||
| Net periodic defined benefits expense (reversal of expense), excluding service cost component | 2,289 | 2,421 | 2,412 | 251 | 52 | 751 | ||
| Other nonoperating income (expense) | 2,471 | 3,253 | 2,118 | 2,839 | (174) | (889) | ||
| Interest and debt expense | (9,175) | (9,696) | (9,415) | (8,818) | (9,259) | (8,991) | ||
| Income from continuing operations before income taxes: | 116,701 | 102,031 | 75,785 | 49,213 | 106,752 | 111,937 | ||
| Income tax expense | (24,727) | (20,062) | (13,304) | (7,208) | (22,513) | (26,000) | ||
| Income from continuing operations: | 91,974 | 81,969 | 62,481 | 42,005 | 84,239 | 85,937 | ||
| Income before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | ✕ | ✕ | 84,239 | 85,937 | |
| Net income available to common stockholders, diluted: | 91,974 | 81,969 | 62,481 | 42,005 | 84,239 | 85,937 | ||
Comprehensive Income ($ in thousands)Annual | Quarterly
| 12/31/2023 Q4 | 9/30/2023 Q3 | 6/30/2023 Q2 | 3/31/2023 Q1 | 12/31/2022 Q4 | 9/30/2022 Q3 | 6/30/2022 Q2 | ||
|---|---|---|---|---|---|---|---|---|
| Net income: | 91,974 | 81,969 | 62,481 | 42,005 | 84,239 | 85,937 | ||
| Other comprehensive income (loss) | 108 | 9 | 9 | (2,761) | (37) | (37) | ||
| Other undisclosed comprehensive loss | ||||||||
| Comprehensive income: | 92,082 | 81,978 | 62,490 | 39,244 | 84,202 | 85,900 | ||
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | 185 | (97) | 45 | 10,654 | (28) | 69 | ||
| Comprehensive income, net of tax, attributable to parent: | 92,267 | 81,881 | 62,535 | 49,898 | 84,174 | 85,969 | ||
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.