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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating activities:      
Net income $ 143,421 $ 137,230 $ 124,781
Adjustments to reconcile net income to net cash provided by (used in) operating activities:       
Depreciation 23,384 21,051 19,220
Amortization of intangible assets 1,888 2,097 2,249
Deferred income taxes 1,626 (3,105) 1,060
Provision for credit losses (56) 6,202 186
Amortization of debt issuance costs 263 0 0
Stock-based compensation costs 1,559 804 1,068
Unrealized gain on investments (585) 0 0
Gain on sale of assets (7,231) (8,174) (6,646)
Equity in earnings of unconsolidated affiliates, net of distributions (8,055) (4,946) (402)
Changes in current assets and liabilities, net of acquisitions:      
Receivables (140,345) 28,944 (143,115)
Due from related-party 11,507 (489) (296)
Contract assets, net 39,186 16,863 (91,686)
Inventories (1,041) (5,865) (15,798)
Other current assets (12,814) (4,390) (5,486)
Accounts payable 14,296 (21,782) 66,469
Due to related-party (2,135) (2,803) (3,140)
Contract liabilities, net 67,196 15,713 8,043
Other current liabilities 20,728 (6,933) 15,992
Other noncurrent changes 10,585 921 2,006
Net cash provided by (used in) operating activities 163,377 171,338 (25,495)
Investing activities:      
Capital expenditures (48,278) (35,590) (35,844)
Net proceeds from sale or disposition of property 13,706 16,214 11,337
Investments (2,489) (596) (58)
Net cash used in investing activities (37,061) (19,972) (24,565)
Financing activities:      
Proceeds under the credit facility 40,000 0 0
Repayments under the credit facility (40,000) 0 0
Payment of debt issuance costs (7,879) 0 0
Contribution from MDU Resources 13,531 0 0
Net amounts (paid to) received from related-party cash management program (168,531) (10,584) 131,077
Transfers to Centennial and MDU Resources (178,992) (69,327) (106,573)
Net cash (used in) provided by financing activities (41,871) (151,911) 51,504
Increase (Decrease) in cash, cash equivalents and restricted cash 84,445 (545) 1,444
Cash, cash equivalents and restricted cash - beginning of year 1,567 2,112 668
Cash, cash equivalents and restricted cash - end of year 86,012 1,567 2,112
Supplemental Cash Flow Information:      
Interest paid, net 14,800 16,845 5,748
Income taxes paid, net 50,207 52,322 33,201
Noncash investing activities:      
Purchases of property, plant and equipment included in accounts payable 421 258 751
Related party      
Financing activities:      
Issuance of long-term debt 0 0 27,000
Repayment of related-party long-term notes payable 0 (45,000) 0
Repayment of related-party short-term notes payable 0 (27,000) 0
Nonrelated party      
Financing activities:      
Issuance of long-term debt $ 300,000 $ 0 $ 0