Black Hills Corporation BKH Income Statement

Black hills corporation (BKH)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Sep'09	Jun'09
Utilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	223,714	236,053	374,696	288,734	212,193	220,168	388,666	-	-
Revenue:
Non-regulated energy
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	25,809	24,596	26,139	-1,375	37,301	36,170	37,834	-	-
Revenues
537,050	477,654	325,548	333,888	597,810	501,196	321,979	355,704	575,389	455,298	335,611	341,829	547,528	429,730	333,786	325,441	449,959	274,976	272,105	272,254	441,987	378,077	272,087	283,237	460,169	355,448	259,907	279,826	380,671	318,862	246,808	242,363	365,851	361,181	249,523	260,649	400,835	287,359	249,494	256,338	426,500	225,799	257,349
Operating expenses:
Fuel, purchased power and cost of natural gas sold
187,879	158,171	73,090	89,826	249,742	193,066	80,244	104,661	247,639	159,066	86,281	98,164	219,777	162,593	80,194	84,489	171,856	106,109	71,627	73,824	205,327	165,309	84,674	101,331	230,468	153,299	71,503	99,172	168,173	123,849	62,582	63,452	157,183	174,524	86,127	103,827	210,511	146,220	86,933	97,500	236,314	94,120	112,169
Operations and maintenance
125,466	130,442	117,037	124,931	123,584	131,629	115,699	118,282	116,096	118,898	109,258	111,897	114,552	91,897	115,103	112,541	107,062	50,435	89,830	90,410	93,134	157,549	64,245	66,074	71,227	65,191	66,061	64,977	65,690	58,646	59,398	59,563	64,760	63,085	58,313	58,689	67,409	63,018	57,294	66,029	65,034	35,431	40,461
Non-regulated energy operations and maintenance
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	20,170	21,350	22,332	21,059	20,484	20,890	21,329	20,056	22,466	20,713	22,595	24,730	22,813	22,436	23,474	-2,412	26,018	25,106	22,960	-	-
Gain on sale of operating assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	27,285	-	-	-	0	-	-	0	6,238	0	2,683	0	0
Administrative and general
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	38,344	37,708
Depreciation, depletion and amortization
56,402	54,613	51,884	51,595	51,028	49,983	49,046	48,709	48,590	47,610	47,109	46,825	46,702	34,896	48,925	47,305	44,407	9,712	37,768	40,051	39,002	36,991	36,628	35,877	35,249	31,256	36,135	35,152	34,781	24,525	41,408	41,431	38,559	38,157	33,278	32,246	31,910	37,915	30,036	30,260	28,395	29,824	29,386
Taxes - property and production
14,118	13,462	12,986	13,142	13,325	12,565	11,905	13,976	13,300	12,712	12,408	13,072	13,386	9,169	12,114	12,760	12,117	6,072	10,675	11,377	11,936	11,118	11,082	11,044	10,336	9,495	10,068	10,069	10,380	9,286	10,213	9,478	11,510	9,112	9,161	7,239	8,198	7,450	7,426	6,239	6,477	11,171	11,811
Other operating expenses
-	-	-	393	-	-	-	525	1,490	-183	996	2,075	2,925	14,577	6,748	7,551	26,431	10,221	2,374	966	52	177	49	149	125	152	90	529	472	373	216	267	1,196	-567	259	52	966	-	83	369	-	-	-
Impairment of long-lived assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	12,293	25,497	14,496	-	61,875	94,484	22,036	0	0	0	0	-	-	-	-	-	0	26,868	-	-	0	0	-	-	-	-	-	0	0
Total operating expenses
383,865	356,295	254,997	279,887	437,679	387,069	256,894	286,153	427,115	338,103	256,052	272,033	397,342	260,846	275,377	290,143	376,369	4,154	274,149	311,112	371,487	307,292	216,848	235,825	369,737	280,452	204,341	230,789	300,825	210,869	168,998	221,772	295,803	309,041	209,951	224,489	342,468	252,418	201,552	225,503	356,798	208,890	231,535
Operating Income (Loss)
153,185	121,359	70,551	54,001	160,131	114,127	65,085	69,551	148,274	117,195	79,559	69,796	150,186	168,884	58,409	35,298	73,590	270,822	-2,044	-38,858	70,500	70,785	55,239	47,412	90,432	74,996	55,566	49,037	79,846	107,993	77,810	20,591	70,048	52,140	39,572	36,160	58,367	34,941	47,942	30,835	69,702	16,909	25,814
Other income (expense):
Interest charges -
Interest expense incurred net of amounts capitalized (including amortization of debt issuance costs, premiums and discounts)
35,781	38,573	36,200	36,058	35,016	36,537	36,380	35,365	35,438	35,116	35,287	35,072	35,058	35,102	37,306	34,609	32,074	24,393	22,378	19,545	19,910	19,352	17,919	17,886	17,860	43,098	23,840	23,369	23,672	32,603	27,475	27,762	29,914	29,585	29,303	28,593	29,203	26,735	27,827	25,994	25,120	20,691	23,338
Allowance for funds used during construction - borrowed
-	-	2,200	1,397	-	759	701	511	133	354	753	822	486	866	860	754	501	407	478	207	158	230	319	256	270	298	347	411	74	854	1,127	963	518	4,167	3,520	2,991	3,363	14,625	1,934	-2,722	-3,148	-	-
Capitalized interest
-	-	-	-	-	-	-	-	-	-	64	58	75	-	282	268	235	-711	280	481	276	248	231	246	257	250	273	272	266	215	175	131	161	3,062	2,981	2,783	2,434	3,623	1,614	-650	-206	-	-
Unrealized gain (loss) on interest rate swaps, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	776	3,144	18,793	7,456	4,784	605	-15,552	12,045	-1,402	-38,246	-7,827	5,465	26,470	-13,710	-24,918	-3,035	-8,694	31,706
Interest income
328	424	513	396	299	629	382	320	310	316	402	257	41	-1,084	912	946	655	458	414	301	448	384	575	576	390	398	565	475	285	529	364	627	437	470	536	463	548	12	199	84	246	327	329
Allowance for funds used during construction - equity
-	-	311	127	-	116	193	242	68	339	696	794	492	370	1,211	982	707	334	430	77	56	166	297	293	238	280	85	42	200	-128	196	195	277	256	189	192	295	333	375	260	2,028	2,598	1,314
Other Asset Impairment Charges
6,900	-	19,741	-	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other income (expense), net
2,353	-5,829	269	137	-789	627	-703	-1,551	-172	-207	189	-76	-119	323	160	-47	688	507	842	395	331	803	261	409	592	775	318	473	405	413	-287	888	1,472	727	528	504	731	508	539	1,268	418	2,142	893
Other expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	301	24,318	-10,904
Total other income (expense)
-39,959	-40,985	-52,648	-34,001	-35,506	-34,406	-35,807	-35,843	-35,099	-34,511	-33,183	-33,217	-34,083	-35,412	-33,881	-31,706	-29,288	-23,556	-19,934	-18,084	-18,641	-17,898	-16,236	-16,106	-16,113	-41,015	-19,108	-2,903	-14,986	-26,007	-25,295	-40,510	-15,004	-23,122	-59,795	-29,487	-16,367	5,244	-36,876	-45,928	-22,109	-	-
Income before income taxes
113,226	80,374	17,903	20,000	124,625	79,721	29,278	33,708	113,175	82,684	46,376	36,579	116,103	133,472	24,528	3,592	44,302	247,266	-21,978	-56,942	51,859	52,887	39,003	31,306	74,319	33,981	36,458	46,134	64,860	81,986	52,515	-19,919	55,044	29,018	-20,223	6,673	42,000	40,185	11,066	-15,093	47,593	-7,409	36,718
Equity in earnings (loss) of unconsolidated subsidiaries
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-47	-297	0	0	0	-1	0	0	0	-86	22	22	22	-56	45	43	40	993	88	-137	1,291	317	119	1,576
Impairment of equity investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	5,170	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income tax (expense)
16,000	7,780	2,500	2,300	17,000	-11,667	7,500	6,500	-26,000	14,849	13,478	10,652	34,388	47,896	6,644	309	4,252	93,297	-12,035	-20,317	17,712	18,353	11,640	10,959	25,673	12,513	13,334	15,616	21,577	30,162	17,914	-7,574	19,717	10,309	-9,017	3,007	13,925	12,297	-1,461	-5,143	16,476	-3,437	13,713
Income from continuing operations
-	-	15,395	17,693	-	91,604	21,801	27,167	138,977	67,835	32,898	25,927	81,715	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-12,323	35,271	-	-	-	-	-	-	-	-	-	-
Net (loss) from discontinued operations
-	-	0	0	-	-1,260	-857	-2,427	-2,343	-13,614	-1,300	-616	-1,569	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	638	4,046	-	-	-	-	-	-	0
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
97,224	72,872	15,395	17,693	107,362	90,344	20,944	24,740	136,634	54,221	31,598	25,311	80,146	21,414	17,884	3,283	40,050	-14,176	-9,943	-41,842	33,850	-	-	-	-	-	-	-	-	-	-	-13,483	29,787	-	-	-	-	-	-	-	31,434	-2,180	24,581
Net income attributable to noncontrolling interest
4,050	3,693	3,655	3,110	3,554	3,773	3,994	2,823	3,630	3,568	3,935	3,116	3,623	3,246	3,753	2,614	48	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income available for common stock
93,174	69,179	11,740	14,583	103,808	86,571	16,950	21,917	133,004	50,653	27,663	22,195	76,523	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-10,525	7,752	26,910	-	12,390	-8,659	-	-	-
Amounts attributable to common shareholders:
Net income from continuing operations
-	-	11,740	14,583	-	87,831	17,807	24,344	135,347	64,267	28,963	22,811	78,092	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	34,623	-	-	18,754	-11,163	3,706	29,068	-	-	-	-	-3,853	24,581
Net (loss) from discontinued operations
-	-	0	0	-	-1,260	-857	-2,427	-2,343	-13,614	-1,300	-616	-1,569	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-167	-166	-1,160	-5,484	-	-	-	-2,158	-	-	-	-	1,673	-
Net income (loss) available for common stock
93,174	-	-	-	103,808	-	-	-	133,004	50,653	27,663	22,195	76,523	18,168	14,131	669	40,002	-14,176	-9,943	-41,842	33,850	34,534	27,363	20,347	48,645	20,584	23,124	30,518	43,197	-	34,457	-	-	-	-	-	-	-	-	-	-	-	-
Earnings per share of common stock:
Earnings (loss) per share of common stock, Basic -
Other comprehensive income (loss), net of tax
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	288	-1,579	-	-	-	-	-	-
Comprehensive income (loss)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	8,040	25,331	-	-	-	-	-	-
Earnings from continuing operations, Basic (usd per share)
-	-	0.19	0.24	-	1.55	0.33	0.46	2.54	1.21	0.54	0.43	1.47	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1.18	0.79	-0.28	0.81	0.47	-0.29	0.09	0.74	-	-	-	-	-0.10	0.64
(Loss) from discontinued operations per share, Basic (usd per share)
-	-	0.00	0.00	-	-0.01	-0.02	-0.05	-0.05	-0.26	-0.02	-0.01	-0.03	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.00	0.00	-0.03	-0.13	0.16	0.02	0.11	-0.05	-	-	-	-	0.04	0.00
Earnings (loss) per share, Basic (usd per share)
1.51	1.13	0.19	0.24	1.73	1.53	0.32	0.41	2.49	0.95	0.52	0.42	1.44	0.35	0.27	0.01	0.78	-0.31	-0.22	-0.94	0.76	0.77	0.62	0.46	1.10	0.47	0.52	0.69	0.98	1.18	0.79	-0.31	0.68	0.63	-0.27	0.20	0.69	0.85	0.32	-0.22	0.81	-0.06	0.64
Earnings (loss) per share of common stock, Diluted -
Earnings from continuing operations, Diluted (usd per share)
-	-	0.19	0.24	-	1.51	0.32	0.45	2.50	1.17	0.52	0.41	1.42	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1.18	0.78	-0.28	0.80	0.48	-0.29	0.09	0.73	-	-	-	-	-0.10	0.64
(Loss) from discontinued operations, Diluted (usd per share)
-	-	0.00	0.00	-	-0.01	-0.02	-0.05	-0.04	-0.25	-0.02	-0.01	-0.03	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-0.01	0.00	-0.03	-0.12	0.16	0.02	0.10	-0.05	-	-	-	-	0.04	0.00
Earnings (loss) per share, Diluted (usd per share)
1.51	1.12	0.19	0.24	1.73	1.49	0.31	0.40	2.46	0.92	0.50	0.40	1.39	0.33	0.26	0.01	0.77	-0.31	-0.22	-0.94	0.76	0.77	0.61	0.46	1.09	0.46	0.52	0.69	0.97	1.17	0.78	-0.31	0.68	0.64	-0.27	0.19	0.68	0.85	0.32	-0.22	0.81	-0.06	0.64
Weighted Average Number of Shares Outstanding, Basic and Diluted [Abstract]
Basic (in shares)
61,778	61,285	60,976	60,467	59,920	57,642	53,364	53,355	53,319	53,260	53,243	53,229	53,152	52,946	52,184	51,514	51,044	47,359	44,635	44,617	44,541	44,432	44,415	44,399	44,330	44,226	44,201	44,172	44,053	43,903	43,847	43,799	43,731	42,143	39,145	39,109	39,059	38,981	38,933	38,902	38,848	38	38,598
Diluted (in shares)
61,856	61,422	61,104	60,606	60,060	58,483	54,819	54,520	54,122	54,732	55,432	55,384	54,932	54,507	53,733	52,986	51,858	47,240	44,635	44,617	44,660	44,642	44,608	44,588	44,554	44,495	44,457	44,412	44,312	44,416	44,108	43,799	43,969	41,595	39,145	39,823	39,761	39,320	39,133	38,902	39,009	38	38,658
Dividends declared per share of common stock (usd per share)
-	-	-	-	-	-	-	-	-	-	0.44	0.44	0.44	-	0.42	0.42	0.42	-	0.40	0.40	0.40	-	0.39	0.39	0.39	-	0.38	0.38	0.38	-	0.37	0.37	0.37	-	0.36	0.36	0.36	-	0.36	0.36	0.36	0.35	0.35