Business segment data (Tables)

6 Months Ended

Jun. 30, 2025

Schedule of Segment Reporting Information, by Segment

The proceeding information follows the same accounting policies as described in the audited financial statements and notes included in the Company's 2024 Annual Report. Prior periods presented have been recast to conform to the current reportable segment presentation.


	Three Months Ended June 30, 2025										Three Months Ended June 30, 2024
	West		Mountain		Central		Energy Services		Total		West		Mountain		Central		Energy Services		Total
	(In thousands)
Revenues from external customers	$	317,195	$	176,121	$	255,062	$	85,146	$	833,524	$	332,052	$	193,769	$	214,603	$	66,243	$	806,667
Intersegment revenues	206		—		130		12,234		12,570		877		172		69		9,910		11,028
Total segment revenue	317,401		176,121		255,192		97,380		846,094		332,929		193,941		214,672		76,153		817,695

Other revenues1									337										377
Less: Elimination of intersegment revenue									12,672										11,166
Total consolidated revenue									$	833,759									$	806,906

Cost of revenue excluding depreciation, depletion and amortization	234,634		136,976		195,820		77,260				242,591		143,756		167,558		54,615
Selling, general and administrative expenses excluding depreciation, depletion and amortization	21,821		8,356		15,316		3,120				21,341		7,084		11,285		2,183
Other segment items2	(176)		121		341		79				(446)		18		359		12
Total segment EBITDA	$	60,770	$	30,910	$	44,397	$	17,079	$	153,156	$	68,551	$	43,119	$	36,188	$	19,367	$	167,225

Consolidated income before income taxes									67,948										104,114
Plus:
Depreciation, depletion and amortization									50,204										34,512
Interest expense, net3									21,546										12,809
Less unallocated amounts:
Other corporate services revenue									235										239
Other corporate services expenses									(13,693)										(16,029)
Total segment EBITDA									$	153,156									$	167,225

1 Other revenues is comprised of revenue included within our corporate services.

2 Other segment items is comprised of other income (expense) items on the income statement.

3 Interest expense, net is interest expense net of interest income.


	Six Months Ended June 30, 2025										Six Months Ended June 30, 2024
	West		Mountain		Central		Energy Services		Total		West		Mountain		Central		Energy Services		Total
	(In thousands)
Revenues from external customers	$	525,213	$	242,114	$	322,904	$	96,691	$	1,186,922	$	529,591	$	253,595	$	275,565	$	77,360	$	1,136,111
Intersegment revenues	480		—		143		14,632		15,255		2,010		172		96		11,596		13,874
Total segment revenue	525,693		242,114		323,047		111,323		1,202,177		531,601		253,767		275,661		88,956		1,149,985

Other revenues1									867										739
Less: Elimination of intersegment revenue									15,813										14,228
Total consolidated revenue									$	1,187,231									$	1,136,496

Cost of revenue excluding depreciation, depletion and amortization	399,647		209,930		269,475		94,877				401,996		201,080		233,123		67,525
Selling, general and administrative expenses excluding depreciation, depletion and amortization	43,468		17,655		33,786		7,217				41,073		15,693		25,510		4,603
Other segment items2	3,106		114		319		49				(570)		60		438		56
Total segment EBITDA	$	85,684	$	14,643	$	20,105	$	9,278	$	129,710	$	87,962	$	37,054	$	17,466	$	16,884	$	159,366

Consolidated income (loss) before income taxes									(25,401)										40,160
Plus:
Depreciation, depletion and amortization									88,967										66,724
Interest expense, net3									34,669										23,955
Less unallocated amounts:
Other corporate services revenue									308										384
Other corporate services expenses									(31,783)										(28,911)
Total segment EBITDA									$	129,710									$	159,366

1 Other revenues is comprised of revenue included within our corporate services.

2 Other segment items is comprised of other income (expense) items on the income statement.

3 Interest expense, net is interest expense net of interest income.


	At June 30, 2025										At June 30, 2024
	West		Mountain		Central		Energy Services		Total		West		Mountain		Central		Energy Services		Total
	(In thousands)
Capital expenditures	$	132,516	$	29,420	$	46,375	$	3,450	$	211,761	$	44,282	$	25,025	$	30,218	$	6,124	$	105,649
Assets	$	1,470,836	$	402,363	$	1,317,920	$	309,690	$	3,500,809	$	1,293,685	$	374,353	$	695,878	$	191,189	$	2,555,105
Other assets									5,018,536										4,223,726
Elimination of intercompany receivables and investment in subsidiaries									4,887,882										4,095,969
Total consolidated assets									$	3,631,463									$	2,682,862

Knife River Corp 10-Q