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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating activities:      
Net income $ 201,770 $ 143,421 $ 137,230
Adjustments to reconcile net income to net cash provided by operating activities:       
Depreciation 28,684 23,384 21,051
Amortization of intangible assets 116 1,888 2,097
Deferred income taxes 6,341 1,626 (3,105)
Net credit loss expenses (reversals) 636 (56) 6,202
Amortization of debt issuance costs 1,576 263 0
Stock-based compensation costs 6,311 1,559 804
Net unrealized gains on investments (771) (585) 0
Gain on sale of assets (5,976) (7,231) (8,174)
Equity in earnings of unconsolidated affiliates, net of distributions (5,186) (8,055) (4,946)
Changes in operating assets and liabilities:      
Receivables (180,436) (140,345) 28,944
Due from related-party 0 11,507 (489)
Contract assets (88,718) 39,186 16,863
Inventories (1,521) (1,041) (5,865)
Other current assets (24,625) (12,814) (4,390)
Accounts payable 88,372 14,296 (21,782)
Due to related-party 0 (2,135) (2,803)
Contract liabilities, net 97,807 67,196 15,713
Other current liabilities 29,218 20,728 (6,933)
Other noncurrent changes 3,247 10,585 921
Net cash provided by operating activities 156,845 163,377 171,338
Investing activities:      
Capital expenditures (66,836) (48,278) (35,590)
Net proceeds from sale or disposition of property, plant and equipment 9,971 13,706 16,214
Proceeds from insurance contracts 2,174 0 0
Investments (2,078) (2,489) (596)
Net cash used in investing activities (56,769) (37,061) (19,972)
Financing activities:      
Issuance of long-term debt 0 300,000 0
Proceeds under the credit facility 0 40,000 0
Repayments under the credit facility 0 (40,000) 0
Payment of debt issuance costs 0 (7,879) 0
Tax withholding on stock-based compensation (588) 0 0
Contribution from MDU Resources 0 13,531 0
Net amounts paid to MDU Resources cash management program 0 (168,531) (10,584)
Transfers to CEHI, LLC and MDU Resources 0 (178,992) (69,327)
Net cash used in financing activities (15,588) (41,871) (151,911)
Increase (decrease) in cash, cash equivalents and restricted cash 84,488 84,445 (545)
Cash, cash equivalents and restricted cash - beginning of year 86,012 1,567 2,112
Cash, cash equivalents and restricted cash - end of year 170,500 86,012 1,567
Supplemental Cash Flow Information:      
Interest paid 19,709 14,800 16,845
Income taxes paid, net 77,819 50,207 52,322
Noncash investing activities:      
Purchases of property, plant and equipment included in accounts payable 216 421 258
Related party      
Financing activities:      
Repayment of related-party long-term notes payable 0 0 (45,000)
Repayment of related-party short-term notes payable 0 0 (27,000)
Nonrelated party      
Financing activities:      
Repayment of related-party long-term notes payable $ (15,000) $ 0 $ 0