Black Hills Corporation (BKH)

Black Hills Balance Sheet

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Cash & Equivalents	21.1	16.1	86.6	21.4	8.92	6.36
Accounts Receivable	251.4	351.2	350.3	508.2	321.65	265.96
Other Receivables	21	19.8	18.5	17.6	18.02	19.45
Inventory	173	153.9	160.9	207.4	150.98	117.4
Restricted Cash	8	7.3	6.4	5.6	4.89	4.38
Other Current Assets	193.1	194	203.9	311.5	303.68	79.75
Total Current Assets	667.6	742.3	826.6	1,072	808.13	493.29
Property, Plant & Equipment	8,028	7,630	7,119	6,798	6,449	6,020
Regulatory Assets	253	272.9	304.4	392.7	526.31	226.58
Goodwill	1,300	1,300	1,300	1,300	1,299	1,299
Other Intangible Assets	6.7	7.6	8.4	9.6	10.77	11.94
Long-Term Investments	-	-	-	-	-	2.18
Other Long-Term Assets	74.5	70.4	62.2	46.7	38.05	35.62
Total Assets	10,329	10,023	9,620	9,618	9,132	8,089
Accounts Payable	219.1	229.1	186.4	310	217.76	183.34
Accrued Expenses	229.8	246.6	217.3	195.8	195.95	191.43
Short-Term Debt	126	133.8	-	535.6	420.18	234.04
Current Portion of Long-Term Debt	-	-	600	525	-	8.44
Other Current Liabilities	159.7	153.9	181.4	100.3	67.83	79.29
Total Current Liabilities	734.6	763.4	1,185	1,667	901.71	696.53
Long-Term Debt	4,253	4,250	3,801	3,607	4,127	3,528
Pension & Post-Retirement Benefits	120.9	122.9	123.9	116.7	123.93	150.56
Long-Term Deferred Tax Liabilities	679.6	625.1	548	508.9	465.39	408.62
Other Long-Term Liabilities	690.2	675.8	656.4	628.7	626.82	642.33
Total Liabilities	6,478	6,437	6,315	6,528	6,245	5,426
Common Stock	75.5	71.7	68.3	66.1	64.79	62.83
Additional Paid-In Capital	2,415	2,193	2,008	1,883	1,783	1,657
Retained Earnings	1,289	1,249	1,158	1,064	962.46	870.74
Treasury Stock	-2.7	-3.3	-4.1	-2.4	-3.51	-2.12
Comprehensive Income & Other	-8.8	-9.4	-14.8	-15.6	-20.08	-27.35
Total Common Equity	3,768	3,502	3,215	2,995	2,787	2,561
Minority Interest	82.9	83.7	90.5	95	100.03	101.26
Shareholders' Equity	3,851	3,585	3,306	3,090	2,887	2,663
Total Liabilities & Equity	10,329	10,023	9,620	9,618	9,132	8,089
Total Debt	4,379	4,384	4,401	4,668	4,547	3,771
Net Cash (Debt)	-4,358	-4,368	-4,315	-4,647	-4,538	-3,764
Net Cash Per Share	-60.34	-62.49	-64.30	-71.48	-71.69	-60.29
Filing Date Shares Outstanding	75.47	71.62	68.2	66.1	64.74	62.79
Total Common Shares Outstanding	75.47	71.62	68.2	66.1	64.74	62.79
Working Capital	-67	-21.1	-358.5	-595	-93.58	-203.24
Book Value Per Share	49.92	48.89	47.15	45.31	43.05	40.79
Tangible Book Value	2,462	2,194	1,907	1,686	1,477	1,250
Tangible Book Value Per Share	32.62	30.64	27.97	25.50	22.81	19.91
Machinery	-	9,253	8,741	8,156	7,623	7,121
Construction In Progress	-	313.2	175.9	218.7	227.77	178.9

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Utility template. Financial Sources.

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