ii
The following abbreviations and acronyms used in this Form 10-K are defined below:
Adjusted EBITDA
EBITDA adjusted to exclude unrealized gains and losses on benefit plan investments, stock-based compensation and one-time Separation costs
Publicly-funded work completed for federal and state departments of transportation, as well as cities and counties
FASB Accounting Standards Codification
CDL
Commercial driver's license
Centennial Energy Holdings, Inc., a direct wholly owned subsidiary of MDU Resources and the direct parent company of Knife River prior to the Separation
CERCLA
Comprehensive Environmental Response, Compensation and Liability Act
CHIPS Act
Creating Helpful Initiatives to Produce Semiconductors Act
Company or Knife River
Knife River Corporation
DGCL
Delaware General Corporation Law
Dodd-Frank Wall Street Reform and Consumer Protection Act
"Competitive EDGE" strategy implemented by the Company to improve margins and to execute on other strategic initiatives aimed at generating long-term profitable growth. The EDGE acronym stands for EBITDA Margin Improvement, Discipline, Growth and Excellence.
EEO
Federal Equal Employment Opportunity laws in the United States
ESG
Environmental, social and governance matters
Securities Exchange Act of 1934, as amended
Financial Accounting Standards Board
FIP
Funding improvement plan
Free Cash Flows
Cash flows provided by (used in) operating activities less capital expenditures plus proceeds from asset sales
Accounting principles generally accepted in the United States of America
IIJA
Infrastructure Investment and Jobs Act
The holding company established in conjunction with the Separation and, prior to the Separation, an indirect wholly owned subsidiary of MDU Resources
Knife River - Northwest
A direct wholly owned subsidiary of Knife River
Management’s Discussion and Analysis of Financial Condition and Results of Operations
iii
MEPP
Multiemployer pension plan
PCAOB
Public Company Accounting and Oversight Board
Proxy Statement
Company’s 2024 Proxy Statement to be filed no later than April 29, 2024
PRP
Potentially Responsible Party
Qualified Person
As defined by the SEC, a mineral industry professional with at least five years of relevant experience in the type of mineralization and type of deposit under consideration and in the specific type of activity that person is undertaking. The qualified person must also be an eligible member or licensee in good standing of a recognized professional organization
RP
Rehabilitation plan
Sarbanes-Oxley Act
Securities Act
Securities Act of 1933, as amended
SOFR