2010 Form 10-K Financial Statement

#000113046411000027 Filed on February 25, 2011

View on sec.gov

Income Statement

Concept 2010 2009 Q4 2009
Revenue $1.307B $348.5M $1.270B
YoY Change 2.97% -14.54% 26.23%
Cost Of Revenue
YoY Change
Gross Profit $652.7M $603.5M
YoY Change 8.16%
Gross Profit Margin 49.93% 47.53%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $126.6M $28.40M $120.9M
YoY Change 4.69% -21.76% 12.75%
% of Gross Profit 19.4% 20.04%
Operating Expenses $1.036B $297.8M $1.075B
YoY Change -3.56% -15.83% 13.12%
Operating Profit $183.4M $124.2M
YoY Change 47.73% 122.19%
Interest Expense $90.61M -$3.500M $83.25M
YoY Change 8.83% -96.89% 42.92%
% of Operating Profit 49.4% 67.06%
Other Income/Expense, Net -$101.5M $2.300M -$16.10M
YoY Change 530.14% 27.78% -88.63%
Pretax Income $83.75M $49.40M $108.8M
YoY Change -23.01% -133.22% -226.78%
Income Tax $22.17M $17.00M $32.85M
% Of Pretax Income 26.47% 34.41% 30.2%
Net Earnings $68.69M $32.80M $81.56M
YoY Change -15.78% -133.2% -22.48%
Net Earnings / Revenue 5.25% 9.41% 6.42%
Basic Earnings Per Share $1.76 $2.11
Diluted Earnings Per Share $1.76 $845.4K $2.11
COMMON SHARES
Basic Shares Outstanding 38.92M shares 38.61M shares
Diluted Shares Outstanding 39.09M shares 38.68M shares

Balance Sheet

Concept 2010 2009 Q4 2009
SHORT-TERM ASSETS
Cash & Short-Term Investments $16.40M $112.9M $112.9M
YoY Change -85.47% -33.0% -33.0%
Cash & Equivalents $16.40M $112.9M $112.9M
Short-Term Investments
Other Short-Term Assets $433.0M $27.27M $112.1M
YoY Change 286.26% -79.84% -17.15%
Inventory $62.90M $123.3M $123.3M
Prepaid Expenses
Receivables $171.8M $274.5M $274.5M
Other Receivables $0.00 $2.000M $2.000M
Total Short-Term Assets $684.2M $624.9M $624.9M
YoY Change 9.49% -21.84% -21.84%
LONG-TERM ASSETS
Property, Plant & Equipment $2.492B $2.161B $2.161B
YoY Change 15.32% 6.85% 6.85%
Goodwill $352.3M
YoY Change
Intangibles $4.309M
YoY Change -11.77%
Long-Term Investments $17.80M $18.50M $18.50M
YoY Change -3.78% -18.86% -18.86%
Other Assets $160.4M $16.18M $155.5M
YoY Change 3.15% -90.56% -9.22%
Total Long-Term Assets $3.027B $513.6M $2.693B
YoY Change 12.42% -80.1% 4.36%
TOTAL ASSETS
Total Short-Term Assets $684.2M $624.9M $624.9M
Total Long-Term Assets $3.027B $513.6M $2.693B
Total Assets $3.712B $3.318B $3.318B
YoY Change 11.87% -1.84% -1.84%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $146.6M $229.4M $229.4M
YoY Change -36.09% -20.61% -20.6%
Accrued Expenses $147.6M $151.5M $151.5M
YoY Change -2.57% 12.31% 12.31%
Deferred Revenue
YoY Change
Short-Term Debt $249.0M $164.5M $164.5M
YoY Change 51.37% -76.63% -76.63%
Long-Term Debt Due $5.200M $35.25M $35.20M
YoY Change -85.23% 1578.33% 1576.19%
Total Short-Term Liabilities $793.6M $644.9M $644.9M
YoY Change 23.06% -48.56% -48.56%
LONG-TERM LIABILITIES
Long-Term Debt $1.186B $1.016B $1.016B
YoY Change 16.75% 102.66% 102.65%
Other Long-Term Liabilities $631.6M $114.9M $572.1M
YoY Change 10.4% -79.99% -0.4%
Total Long-Term Liabilities $1.818B $572.1M $1.588B
YoY Change 14.46% -46.82% 47.62%
TOTAL LIABILITIES
Total Short-Term Liabilities $793.6M $644.9M $644.9M
Total Long-Term Liabilities $1.818B $572.1M $1.588B
Total Liabilities $2.611B $1.217B $2.233B
YoY Change 16.94% -47.76% -4.14%
SHAREHOLDERS EQUITY
Retained Earnings $473.9M
YoY Change
Common Stock $38.98M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $224.0K
YoY Change
Treasury Stock Shares 8.834M shares
Shareholders Equity $1.100B $1.085B $1.085B
YoY Change
Total Liabilities & Shareholders Equity $3.712B $3.318B $3.318B
YoY Change 11.87% -1.84% -1.84%

Cashflow Statement

Concept 2010 2009 Q4 2009
OPERATING ACTIVITIES
Net Income $68.69M $32.80M $81.56M
YoY Change -15.78% -133.2% -22.48%
Depreciation, Depletion And Amortization $126.6M $28.40M $120.9M
YoY Change 4.69% -21.76% 12.75%
Cash From Operating Activities $147.8M -$400.0K $270.5M
YoY Change -45.38% -100.61% 85.73%
INVESTING ACTIVITIES
Capital Expenditures -$472.3M -$101.6M -$346.7M
YoY Change 36.23% -7.21% 5.41%
Acquisitions
YoY Change
Other Investing Activities -$15.41M -$16.90M $15.49M
YoY Change -199.44% -262.5% -441.5%
Cash From Investing Activities -$389.2M -$118.4M -$269.8M
YoY Change 44.23% 19.23% -40.96%
FINANCING ACTIVITIES
Cash Dividend Paid $56.47M $55.15M
YoY Change 2.39% 2.77%
Common Stock Issuance & Retirement, Net $3.246M $4.819M
YoY Change -32.64% 79.61%
Debt Paid & Issued, Net $59.93M $2.173M
YoY Change 2657.75% -98.33%
Cash From Financing Activities $161.0M 94.10M -$56.31M
YoY Change -385.83% 88.96% -114.12%
NET CHANGE
Cash From Operating Activities $147.8M -400.0K $270.5M
Cash From Investing Activities -$389.2M -118.4M -$269.8M
Cash From Financing Activities $161.0M 94.10M -$56.31M
Net Change In Cash -$80.46M -24.70M -$55.63M
YoY Change 44.64% -254.37% -163.74%
FREE CASH FLOW
Cash From Operating Activities $147.8M -$400.0K $270.5M
Capital Expenditures -$472.3M -$101.6M -$346.7M
Free Cash Flow $620.1M $101.2M $617.2M
YoY Change 0.46% -42.17% 30.06%

Facts In Submission

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59926000 USD
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CY2010 dei Entity Current Reporting Status
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Yes
CY2009 bkh Fuel And Purchased Power
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FuelAndPurchasedPower
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WeightedAverageNumberOfDilutedSharesOutstanding
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CY2010 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
39091000 shares
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0
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CY2010 dei Entity Central Index Key
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0001130464
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1412000 USD
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BLACK HILLS CORP /SD/
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CY2010 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
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CY2010 us-gaap Unregulated Operating Revenue
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CY2010 dei Document Period End Date
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2010-12-31
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CY2010 us-gaap Repayments Of Short Term Debt
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CY2009Q4 us-gaap Long Term Debt Noncurrent
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CY2009Q4 us-gaap Deferred Tax Assets Net Current
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CY2009Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
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CY2010Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
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CY2010Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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CY2009Q4 us-gaap Retained Earnings Accumulated Deficit
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CY2008 us-gaap Profit Loss
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CY2010 us-gaap Public Utilities Allowance For Funds Used During Construction Capitalized Cost Of Equity
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CY2009Q4 us-gaap Long Term Debt Current
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CY2009 us-gaap Proceeds From Issuance Of Common Stock
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CY2010 us-gaap Proceeds From Issuance Of Common Stock
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CY2010Q4 us-gaap Notes Payable Current
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CY2009Q4 us-gaap Notes Payable Current
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CY2010Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
1
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CommonStockParOrStatedValuePerShare
1
CY2009 us-gaap Gain Loss On Disposition Of Assets
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25971000 USD
CY2008 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
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CY2010 us-gaap Gain Loss On Disposition Of Assets
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8921000 USD
CY2009 us-gaap Adjustments To Additional Paid In Capital Tax Effect From Share Based Compensation
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CY2008 us-gaap Adjustments To Additional Paid In Capital Tax Effect From Share Based Compensation
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432000 USD
CY2010 us-gaap Adjustments To Additional Paid In Capital Tax Effect From Share Based Compensation
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CY2008 us-gaap Depreciation Depletion And Amortization
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107263000 USD
CY2009 us-gaap Depreciation Depletion And Amortization
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CY2010 us-gaap Depreciation Depletion And Amortization
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CY2009Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
100000000 shares
CY2010Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
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CY2008 us-gaap Other Nonoperating Expense
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CY2009 us-gaap Other Nonoperating Expense
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CY2010 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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CY2008 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
2058000 USD
CY2009 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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CY2010 us-gaap Other Comprehensive Income Loss Net Of Tax Period Increase Decrease
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CY2008 us-gaap Other Comprehensive Income Loss Net Of Tax Period Increase Decrease
OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecrease
5725000 USD
CY2009 us-gaap Other Comprehensive Income Loss Net Of Tax Period Increase Decrease
OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecrease
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CY2009Q4 us-gaap Accrued Liabilities Current
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OtherExpenses
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CY2009Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2010Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2009 us-gaap Operating Income Loss
OperatingIncomeLoss
126832000 USD
CY2010 us-gaap Operating Income Loss
OperatingIncomeLoss
193902000 USD
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OperatingIncomeLoss
55877000 USD
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CY2009Q4 us-gaap Liabilities Current
LiabilitiesCurrent
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CY2010Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
328811000 USD
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AccountsReceivableNetCurrent
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CY2008 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
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18053000 USD
CY2009 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
2916000 USD
CY2010 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
0 USD
CY2008 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
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CY2009 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
110728000 USD
CY2010 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
92424000 USD
CY2008 us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
19694000 USD

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