Black Hills Balance Sheet

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	31.4	190.4	23.4	93	27	13.81
Cash & Short-Term Investments	31.4	190.4	23.4	93	27	13.81
Cash Growth	122.69%	713.68%	-74.84%	244.44%	95.51%	28.60%
Accounts Receivable	383.4	389	351.2	350.3	508.2	321.65
Inventory	146.8	172.4	153.9	160.9	207.4	150.98
Short-Term Regulatory Assets	122.6	139.7	154.8	175.7	260.3	270.29
Other Current Assets	104	104.4	59	46.7	68.8	51.4
Total Current Assets	788.2	995.9	742.3	826.6	1,072	808.13
Net Property, Plant & Equipment	8,394	8,234	7,630	7,119	6,798	6,449
Other Intangible Assets	5.8	6.4	7.6	8.4	9.6	10.77
Goodwill	1,300	1,300	1,300	1,300	1,300	1,299
Long-Term Regulatory Assets	251.7	255	272.9	304.4	392.7	526.31
Other Long-Term Assets	81	78.8	70.4	62.2	46.7	38.05
Total Assets	10,820	10,870	10,023	9,620	9,618	9,132
Accounts Payable	210.8	311.7	229.1	186.4	310	217.76
Accrued Expenses	260.2	322.6	302.2	293.3	243.5	244.76
Short-Term Debt	252.2	-	133.8	-	535.6	420.18
Current Portion of Long-Term Debt	410	-	-	600	525	-
Short-Term Regulatory Liabilities	85.9	99.9	94.1	98.9	46	17.57
Other Current Liabilities	1.8	5.8	4.2	6.5	6.6	1.44
Total Current Liabilities	1,221	740	763.4	1,185	1,667	901.71
Long-Term Debt	3,993	4,701	4,250	3,801	3,607	4,127
Long-Term Regulatory Liabilities	490.2	488.3	474.6	467.7	472.6	485.38
Other Long-Term Liabilities	1,090	1,035	949.2	860.6	781.7	730.76
Total Long-Term Liabilities	5,572	6,224	5,674	5,130	4,862	5,343
Total Liabilities	6,793	6,964	6,437	6,315	6,528	6,245
Common Stock	76.2	75.5	71.7	68.3	66.1	64.79
Treasury Stock	-3.7	-2.6	-3.3	-4.1	-2.4	-3.51
Additional Paid-in Capital	2,459	2,418	2,193	2,008	1,883	1,783
Accumulated Other Comprehensive Income	-7.5	-9.7	-9.4	-14.8	-15.6	-20.08
Retained Earnings	1,421	1,343	1,249	1,158	1,064	962.46
Total Common Shareholders' Equity	3,945	3,824	3,502	3,215	2,995	2,787
Minority Interest	81.7	82.1	83.7	90.5	95	100.03
Shareholders' Equity	4,027	3,906	3,585	3,306	3,090	2,887
Total Liabilities & Equity	10,820	10,870	10,023	9,620	9,618	9,132
Total Debt	4,655	4,701	4,384	4,401	4,668	4,547
Net Cash (Debt)	-4,623	-4,511	-4,361	-4,308	-4,641	-4,533
Net Cash Per Share	-64.82	-61.79	-62.38	-64.21	-83.22	-71.62
Book Value	3,945	3,824	3,502	3,215	2,995	2,787
Book Value Per Share	55.32	52.38	50.09	47.92	53.70	44.03
Tangible Book Value	2,640	2,518	2,194	1,907	1,686	1,477
Tangible Book Value Per Share	37.01	34.49	31.39	28.43	30.23	23.33

Updated May 7, 2026. Data Source: Fiscal.ai. Utilities template. Financial Sources.

SEC Filings: 10-K · 10-Q