2014 Q4 Form 10-Q Financial Statement

#000113046414000175 Filed on November 04, 2014

View on sec.gov

Income Statement

Concept 2014 Q4 2014 Q3 2013 Q4
Revenue $378.1M $272.1M $355.4M
YoY Change 6.37% 4.69% 11.47%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $36.90M $36.63M $31.20M
YoY Change 18.27% 1.36% -6.02%
% of Gross Profit
Operating Expenses $304.8M $216.8M $280.5M
YoY Change 8.66% 6.12% 14.3%
Operating Profit $70.79M $55.24M $71.10M
YoY Change -0.45% -0.59% -5.53%
Interest Expense -$18.50M -$16.80M -$41.40M
YoY Change -55.31% -13.85% 58.02%
% of Operating Profit -26.14% -30.41% -58.23%
Other Income/Expense, Net $600.0K $261.0K $400.0K
YoY Change 50.0% -17.92% 100.0%
Pretax Income $55.40M $39.00M $34.00M
YoY Change 62.94% 6.98% -31.03%
Income Tax $19.30M $11.64M $12.50M
% Of Pretax Income 34.84% 29.84% 36.76%
Net Earnings $36.10M $27.40M $20.60M
YoY Change 75.24% 18.61% -33.05%
Net Earnings / Revenue 9.55% 10.07% 5.8%
Basic Earnings Per Share $0.78 $0.61 $0.41
Diluted Earnings Per Share $0.77 $0.61 $0.41
COMMON SHARES
Basic Shares Outstanding 44.66M shares 44.42M shares 44.49M shares
Diluted Shares Outstanding 44.61M shares

Balance Sheet

Concept 2014 Q4 2014 Q3 2013 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $21.20M $11.90M $7.800M
YoY Change 171.79% -12.5% -49.68%
Cash & Equivalents $21.22M $11.94M $7.841M
Short-Term Investments
Other Short-Term Assets $24.84M $26.50M $25.88M
YoY Change -4.0% -2.12% -10.13%
Inventory $91.19M $105.7M $88.48M
Prepaid Expenses
Receivables $190.0M $123.4M $177.6M
Other Receivables $2.000M $1.300M $1.400M
Total Short-Term Assets $454.0M $374.0M $345.3M
YoY Change 31.49% 13.7% -14.77%
LONG-TERM ASSETS
Property, Plant & Equipment $3.205B $3.120B $2.990B
YoY Change 7.2% 7.84% 9.03%
Goodwill $353.4M $353.4M $353.4M
YoY Change 0.0% 0.0% 0.0%
Intangibles $3.176M $3.231M $3.397M
YoY Change -6.51% -6.43% -6.16%
Long-Term Investments $17.30M $17.10M $16.70M
YoY Change 3.59% 3.01% 1.83%
Other Assets $29.09M $29.93M $27.91M
YoY Change 4.23% 35.33% 43.7%
Total Long-Term Assets $569.1M $527.0M $522.9M
YoY Change 8.84% -6.25% -7.49%
TOTAL ASSETS
Total Short-Term Assets $454.0M $374.0M $345.3M
Total Long-Term Assets $569.1M $527.0M $522.9M
Total Assets $4.246B $4.039B $3.875B
YoY Change 9.57% 6.24% 3.91%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $124.1M $100.4M $130.4M
YoY Change -4.81% 30.32% 54.48%
Accrued Expenses $170.1M $163.4M $151.3M
YoY Change 12.45% 6.84% -2.02%
Deferred Revenue
YoY Change
Short-Term Debt $75.00M $184.0M $82.50M
YoY Change -9.09% 33.04% -70.22%
Long-Term Debt Due $275.0M $275.0M $0.00
YoY Change 7.55% -100.0%
Total Short-Term Liabilities $651.3M $727.0M $378.4M
YoY Change 72.12% 3.18% -48.51%
LONG-TERM LIABILITIES
Long-Term Debt $1.268B $1.108B $1.397B
YoY Change -9.26% 15.85% 48.79%
Other Long-Term Liabilities $154.4M $144.1M $133.3M
YoY Change 15.85% 8.06% 6.37%
Total Long-Term Liabilities $973.1M $869.2M $792.1M
YoY Change 22.86% 2.3% -3.78%
TOTAL LIABILITIES
Total Short-Term Liabilities $651.3M $727.0M $378.4M
Total Long-Term Liabilities $973.1M $869.2M $792.1M
Total Liabilities $1.624B $1.596B $1.170B
YoY Change 38.78% 2.7% -24.88%
SHAREHOLDERS EQUITY
Retained Earnings $577.2M $560.1M $540.2M
YoY Change 6.85% 3.91% 9.61%
Common Stock $44.71M $791.3M $786.9M
YoY Change -94.32% 0.83% 1.22%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.875M $1.841M $1.968M
YoY Change -4.73% 2.22% -12.34%
Treasury Stock Shares 42.23K shares 41.55K shares 50.88K shares
Shareholders Equity $1.354B $1.357B $1.284B
YoY Change
Total Liabilities & Shareholders Equity $4.246B $4.039B $3.875B
YoY Change 9.57% 6.24% 3.91%

Cashflow Statement

Concept 2014 Q4 2014 Q3 2013 Q4
OPERATING ACTIVITIES
Net Income $36.10M $27.40M $20.60M
YoY Change 75.24% 18.61% -33.05%
Depreciation, Depletion And Amortization $36.90M $36.63M $31.20M
YoY Change 18.27% 1.36% -6.02%
Cash From Operating Activities $76.10M $65.40M $72.80M
YoY Change 4.53% 20.22% 53.91%
INVESTING ACTIVITIES
Capital Expenditures -$108.2M -$113.0M -$115.2M
YoY Change -6.08% 22.43% 31.36%
Acquisitions
YoY Change
Other Investing Activities -$22.70M $23.00M $2.700M
YoY Change -940.74% 2775.0% 350.0%
Cash From Investing Activities -$130.8M -$90.00M -$112.7M
YoY Change 16.06% -1.53% 29.39%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 55.80M 22.00M 34.00M
YoY Change 64.12% 10.0% -117.72%
NET CHANGE
Cash From Operating Activities 76.10M 65.40M 72.80M
Cash From Investing Activities -130.8M -90.00M -112.7M
Cash From Financing Activities 55.80M 22.00M 34.00M
Net Change In Cash 1.100M -2.600M -5.900M
YoY Change -118.64% -84.71% -97.45%
FREE CASH FLOW
Cash From Operating Activities $76.10M $65.40M $72.80M
Capital Expenditures -$108.2M -$113.0M -$115.2M
Free Cash Flow $184.3M $178.4M $188.0M
YoY Change -1.97% 21.61% 39.26%

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us-gaap Increase Decrease In Other Operating Capital Net
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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us-gaap Interest Costs Incurred
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us-gaap Interest Paid Net
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us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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us-gaap Other Comprehensive Income Defined Benefit Plan Net Prior Service Costs Credit Arising During Period Net Of Tax
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us-gaap Other Comprehensive Income Defined Benefit Plan Net Prior Service Costs Credit Arising During Period Net Of Tax
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us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
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CY2014Q3 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Tax
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CY2013Q3 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Tax
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us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Tax
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us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Tax
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CY2013Q3 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
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us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
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us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Tax
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CY2014Q3 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Tax
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CY2013Q3 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Tax
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us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Tax
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us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Benefit Plan Improvement Tax Effect
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CY2014Q3 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Benefit Plan Improvement Tax Effect
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansBenefitPlanImprovementTaxEffect
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CY2013Q3 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Benefit Plan Improvement Tax Effect
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us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Benefit Plan Improvement Tax Effect
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us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
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us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
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us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
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us-gaap Proceeds From Sale Of Other Property Plant And Equipment
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PropertyPlantAndEquipmentGross
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CY2014Q3 us-gaap Property Plant And Equipment Gross
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CY2014Q3 us-gaap Restricted Cash And Investments Current
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CY2013Q3 us-gaap Retained Earnings Accumulated Deficit
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us-gaap Sales Revenue Net
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us-gaap Sales Revenue Net
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us-gaap Share Based Compensation
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us-gaap Share Based Compensation
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CY2014Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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TaxesExcludingIncomeAndExciseTaxes
11082000 USD
us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
30517000 USD
CY2014Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
41552 shares
CY2013Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
47127 shares
CY2013Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
50877 shares
CY2013Q4 us-gaap Treasury Stock Value
TreasuryStockValue
1968000 USD
CY2014Q3 us-gaap Treasury Stock Value
TreasuryStockValue
1841000 USD
CY2013Q3 us-gaap Treasury Stock Value
TreasuryStockValue
1801000 USD
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
0 USD
CY2013Q3 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
3144000 USD
CY2014Q3 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
0 USD
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
29393000 USD
us-gaap Unrealized Gain Loss On Derivatives And Commodity Contracts
UnrealizedGainLossOnDerivativesAndCommodityContracts
-2136000 USD
us-gaap Unrealized Gain Loss On Derivatives And Commodity Contracts
UnrealizedGainLossOnDerivativesAndCommodityContracts
-275000 USD
us-gaap Utilities Operating Expense Maintenance Operations And Other Costs And Expenses
UtilitiesOperatingExpenseMaintenanceOperationsAndOtherCostsAndExpenses
201546000 USD
CY2014Q3 us-gaap Utilities Operating Expense Maintenance Operations And Other Costs And Expenses
UtilitiesOperatingExpenseMaintenanceOperationsAndOtherCostsAndExpenses
64245000 USD
us-gaap Utilities Operating Expense Maintenance Operations And Other Costs And Expenses
UtilitiesOperatingExpenseMaintenanceOperationsAndOtherCostsAndExpenses
196728000 USD
CY2013Q3 us-gaap Utilities Operating Expense Maintenance Operations And Other Costs And Expenses
UtilitiesOperatingExpenseMaintenanceOperationsAndOtherCostsAndExpenses
66061000 USD
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
44584000 shares
CY2013Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
44457000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
44395000 shares
CY2014Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
44608000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
44143000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
44382000 shares
CY2014Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
44415000 shares
CY2013Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
44201000 shares
CY2013Q3 bkh Capitalized Interest
CapitalizedInterest
273000 USD
bkh Capitalized Interest
CapitalizedInterest
734000 USD
bkh Capitalized Interest
CapitalizedInterest
811000 USD
CY2014Q3 bkh Capitalized Interest
CapitalizedInterest
231000 USD
CY2014Q3 bkh Credit Exposure Non Investment Grade Company
CreditExposureNonInvestmentGradeCompany
500000 USD
CY2013Q3 bkh Fuel Purchased Power And Cost Of Gas Sold
FuelPurchasedPowerAndCostOfGasSold
71503000 USD
bkh Fuel Purchased Power And Cost Of Gas Sold
FuelPurchasedPowerAndCostOfGasSold
416473000 USD
bkh Fuel Purchased Power And Cost Of Gas Sold
FuelPurchasedPowerAndCostOfGasSold
338848000 USD
CY2014Q3 bkh Fuel Purchased Power And Cost Of Gas Sold
FuelPurchasedPowerAndCostOfGasSold
84674000 USD
bkh Increase Decrease In Fair Value Of Derivative Instruments Not Designated As Hedging Instruments Net Of Tax
IncreaseDecreaseInFairValueOfDerivativeInstrumentsNotDesignatedAsHedgingInstrumentsNetOfTax
19000000 USD
CY2013Q3 bkh Increase Decrease In Fair Value Of Derivative Instruments Not Designated As Hedging Instruments Net Of Tax
IncreaseDecreaseInFairValueOfDerivativeInstrumentsNotDesignatedAsHedgingInstrumentsNetOfTax
2000000 USD
bkh Non Cash Revision To Capitalized Asset Retirement Costs
NonCashRevisionToCapitalizedAssetRetirementCosts
-2785000 USD
bkh Non Cash Revision To Capitalized Asset Retirement Costs
NonCashRevisionToCapitalizedAssetRetirementCosts
0 USD
bkh Operating Costs Nonregulated Energy Operations
OperatingCostsNonregulatedEnergyOperations
62703000 USD
CY2013Q3 bkh Operating Costs Nonregulated Energy Operations
OperatingCostsNonregulatedEnergyOperations
20484000 USD
bkh Operating Costs Nonregulated Energy Operations
OperatingCostsNonregulatedEnergyOperations
63852000 USD
CY2014Q3 bkh Operating Costs Nonregulated Energy Operations
OperatingCostsNonregulatedEnergyOperations
20170000 USD
bkh Other Comprehensive Income Loss Pensionand Other Postretirement Benefit Plans Net Unamortized Gain Loss Adjustment Tax
OtherComprehensiveIncomeLossPensionandOtherPostretirementBenefitPlansNetUnamortizedGainLossAdjustmentTax
0 USD
bkh Other Comprehensive Income Loss Pensionand Other Postretirement Benefit Plans Net Unamortized Gain Loss Adjustment Tax
OtherComprehensiveIncomeLossPensionandOtherPostretirementBenefitPlansNetUnamortizedGainLossAdjustmentTax
394000 USD
CY2013Q3 bkh Other Comprehensive Income Loss Pensionand Other Postretirement Benefit Plans Net Unamortized Gain Loss Adjustment Tax
OtherComprehensiveIncomeLossPensionandOtherPostretirementBenefitPlansNetUnamortizedGainLossAdjustmentTax
0 USD
CY2014Q3 bkh Other Comprehensive Income Loss Pensionand Other Postretirement Benefit Plans Net Unamortized Gain Loss Adjustment Tax
OtherComprehensiveIncomeLossPensionandOtherPostretirementBenefitPlansNetUnamortizedGainLossAdjustmentTax
0 USD
bkh Public Utilities Allowance For Funds Used During Construction Borrowed Interest Costs Capitalized
PublicUtilitiesAllowanceForFundsUsedDuringConstructionBorrowedInterestCostsCapitalized
831000 USD
CY2014Q3 bkh Public Utilities Allowance For Funds Used During Construction Borrowed Interest Costs Capitalized
PublicUtilitiesAllowanceForFundsUsedDuringConstructionBorrowedInterestCostsCapitalized
319000 USD
CY2013Q3 bkh Public Utilities Allowance For Funds Used During Construction Borrowed Interest Costs Capitalized
PublicUtilitiesAllowanceForFundsUsedDuringConstructionBorrowedInterestCostsCapitalized
347000 USD
bkh Public Utilities Allowance For Funds Used During Construction Borrowed Interest Costs Capitalized
PublicUtilitiesAllowanceForFundsUsedDuringConstructionBorrowedInterestCostsCapitalized
845000 USD
bkh Total Other Income Expense
TotalOtherIncomeExpense
-36997000 USD
CY2013Q3 bkh Total Other Income Expense
TotalOtherIncomeExpense
-19108000 USD
CY2014Q3 bkh Total Other Income Expense
TotalOtherIncomeExpense
-16236000 USD
bkh Total Other Income Expense
TotalOtherIncomeExpense
-48455000 USD
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
dei Document Period End Date
DocumentPeriodEndDate
2014-09-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0001130464
CY2014Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
44655369 shares
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
BLACK HILLS CORP /SD/
dei Entity Voluntary Filers
EntityVoluntaryFilers
No
dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
Yes

Files In Submission

Name View Source Status
0001130464-14-000175-index-headers.html Edgar Link pending
0001130464-14-000175-index.html Edgar Link pending
0001130464-14-000175.txt Edgar Link pending
0001130464-14-000175-xbrl.zip Edgar Link pending
bkh-20140930.xml Edgar Link completed
bkh-20140930.xsd Edgar Link pending
bkh-20140930_cal.xml Edgar Link unprocessable
bkh-20140930_def.xml Edgar Link unprocessable
bkh-20140930_lab.xml Edgar Link unprocessable
bkh-20140930_pre.xml Edgar Link unprocessable
bkh10qq32014.htm Edgar Link pending
bkhex-311q32014.htm Edgar Link pending
bkhex-312q32014.htm Edgar Link pending
bkhex-321q32014.htm Edgar Link pending
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bkhex-95q32014.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
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report.css Edgar Link pending
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