Black Hills Balance Sheet

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	182.8	16.1	86.6	21.4	8.92
Accounts Receivable	389	351.2	350.3	508.2	321.65
Other Receivables	23.3	19.8	18.5	17.6	18.02
Inventory	172.4	153.9	160.9	207.4	150.98
Restricted Cash	7.6	7.3	6.4	5.6	4.89
Other Current Assets	220.8	194	203.9	311.5	303.68
Total Current Assets	995.9	742.3	826.6	1,072	808.13
Property, Plant & Equipment	8,234	7,630	7,119	6,798	6,449
Regulatory Assets	255	272.9	304.4	392.7	526.31
Goodwill	1,300	1,300	1,300	1,300	1,299
Other Intangible Assets	6.4	7.6	8.4	9.6	10.77
Other Long-Term Assets	78.8	70.4	62.2	46.7	38.05
Total Assets	10,870	10,023	9,620	9,618	9,132
Accounts Payable	311.7	229.1	186.4	310	217.76
Accrued Expenses	263.6	246.6	217.3	195.8	195.95
Short-Term Debt	-	133.8	-	535.6	420.18
Current Portion of Long-Term Debt	-	-	600	525	-
Other Current Liabilities	164.7	153.9	181.4	100.3	67.83
Total Current Liabilities	740	763.4	1,185	1,667	901.71
Long-Term Debt	4,701	4,250	3,801	3,607	4,127
Pension & Post-Retirement Benefits	123.4	122.9	123.9	116.7	123.93
Long-Term Deferred Tax Liabilities	697.9	625.1	548	508.9	465.39
Other Long-Term Liabilities	701.7	675.8	656.4	628.7	626.82
Total Liabilities	6,964	6,437	6,315	6,528	6,245
Common Stock	75.5	71.7	68.3	66.1	64.79
Additional Paid-In Capital	2,418	2,193	2,008	1,883	1,783
Retained Earnings	1,343	1,249	1,158	1,064	962.46
Treasury Stock	-2.6	-3.3	-4.1	-2.4	-3.51
Comprehensive Income & Other	-9.7	-9.4	-14.8	-15.6	-20.08
Total Common Equity	3,824	3,502	3,215	2,995	2,787
Minority Interest	82.1	83.7	90.5	95	100.03
Shareholders' Equity	3,906	3,585	3,306	3,090	2,887
Total Liabilities & Equity	10,870	10,023	9,620	9,618	9,132
Total Debt	4,701	4,384	4,401	4,668	4,547
Net Cash (Debt)	-4,518	-4,368	-4,315	-4,647	-4,538
Net Cash Per Share	-61.73	-62.49	-64.30	-71.48	-71.69
Filing Date Shares Outstanding	75.47	71.62	68.2	66.1	64.74
Total Common Shares Outstanding	75.48	71.62	68.2	66.1	64.74
Working Capital	255.9	-21.1	-358.5	-595	-93.58
Book Value Per Share	50.66	48.89	47.15	45.31	43.05
Tangible Book Value	2,518	2,194	1,907	1,686	1,477
Tangible Book Value Per Share	33.36	30.64	27.97	25.50	22.81
Machinery	8,439	7,723	8,741	8,156	7,623
Construction In Progress	334.4	313.2	175.9	218.7	227.77

Source: S&P Global Market Intelligence. Utility template. Financial Sources.