XML 25 R12.htm IDEA: XBRL DOCUMENT v3.23.3
10-Q Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
Current assets:    
Cash, cash equivalents and restricted cash $ 68,489 $ 10,090
Receivables, net 418,620 210,157
Costs and estimated earnings in excess of billings on uncompleted contracts 58,020 31,145
Due from related-party 0 16,050
Inventories 374,377 323,277
Prepayments and other current assets 38,820 17,848
Total current assets 958,326 608,567
Noncurrent assets:    
Property, plant and equipment 2,533,435 2,489,408
Less accumulated depreciation, depletion and amortization 1,221,966 1,174,195
Net property, plant and equipment 1,311,469 1,315,213
Goodwill 274,478 274,540
Other intangible assets, net 12,110 13,430
Operating lease right-of-use assets 45,933 45,873
Investments and other 40,581 36,696
Total noncurrent assets  1,684,571 1,685,752
Total assets 2,642,897 2,294,319
Current liabilities:    
Long-term debt - current portion 7,082 211
Related-party notes payable - current portion 0 238,000
Accounts payable 174,603 87,370
Billings in excess of costs and estimated earnings on uncompleted contracts 44,590 39,843
Taxes payable 29,878 8,502
Accrued compensation 26,041 29,192
Due to related-party 0 20,286
Current operating lease liabilities 14,067 13,210
Other accrued liabilities 88,095 80,276
Total current liabilities  384,356 516,890
Noncurrent liabilities:    
Long-term debt 832,047 427
Related-party notes payable 0 446,449
Deferred income taxes 170,502 175,804
Noncurrent operating lease liabilities 31,866 32,663
Other 129,274 93,497
Total liabilities  1,548,045 1,265,730
Commitments and contingencies  
Stockholders' equity:    
Common stock, 300,000,000 shares authorized, $0.01 par value, 56,997,350 shares issued and 56,566,214 shares outstanding at June 30, 2023; 80,000 shares authorized, issued and outstanding, $10 par value at December 31, 2022 570 800
Other paid-in capital 611,562 549,106
Retained earnings 498,530 494,661
MDU Resources common stock held by subsidiary at cost - 538,921 shares at December 31, 2022 0 (3,626)
Treasury stock held at cost - 431,136 shares (3,626) 0
Accumulated other comprehensive loss (12,184) (12,352)
Total stockholders' equity 1,094,852 1,028,589
Total liabilities and stockholders' equity  $ 2,642,897 $ 2,294,319