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1: 10-K Mdu Resources 2023 Form 10-K HTML 4.47M
2: EX-10.AE Mdu Resources 401 K Retirement Plan Amendment HTML 54K 5-1-23
3: EX-10.AF Mdu Resources 401 K Retirement Plan Amendment HTML 44K
8-23-23
4: EX-10.AG Mdu Resources 401 K Retirement Plan Amendment HTML 45K
1-1-24
5: EX-10.U Mdu Resources Section 16 Officers and Directors HTML 48K
6: EX-21 Mdu Resources Subsidiaries of Mdu Resources HTML 50K
7: EX-23 Mdu Resources Consent of Independent Accounting HTML 41K
Firm
11: EX-97 Mdu Resources Incentive Compensation Recovery HTML 65K
Policy
8: EX-31.A Mdu Resources Certification of Chief Executive HTML 45K
Officer
9: EX-31.B Mdu Resources Certification of Chief Financial HTML 45K
Officer
10: EX-32 Mdu Resources Certification of CEO and CFO HTML 43K
17: R1 Cover Page HTML 109K
18: R2 Audit Information HTML 47K
19: R3 Consolidated Statements of Income HTML 149K
20: R4 Consolidated Statements of Comprehensive Income HTML 91K
21: R5 Consolidated Balance Sheets HTML 198K
22: R6 Consolidated Statements of Equity HTML 129K
23: R7 Consolidated Statements of Cash Flows HTML 173K
24: R8 Consolidated Statements of Comprehensive Income HTML 57K
(Parenthetical)
25: R9 Consolidated Balance Sheets (Parenthetical) HTML 52K
26: R10 Consolidated Statements of Cash Flows HTML 44K
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27: R11 Basis of Presentation HTML 50K
28: R12 Significant Accounting Policies HTML 160K
29: R13 Discontinued Operations HTML 84K
30: R14 Revenue from Contracts with Customers HTML 179K
31: R15 Property, Plant and Equipment HTML 82K
32: R16 Regulatory Assets and Liabilities HTML 109K
33: R17 Environmental Allowances and Obligations HTML 45K
34: R18 Goodwill and Other Intangible Assets HTML 62K
35: R19 Fair Value Measurements HTML 106K
36: R20 Debt HTML 114K
37: R21 Leases HTML 71K
38: R22 Asset Retirement Obligations HTML 55K
39: R23 Equity HTML 52K
40: R24 Stock-Based Compensation HTML 79K
41: R25 Accumulated Other Comprehensive Loss HTML 83K
42: R26 Income Taxes HTML 126K
43: R27 Cash Flow Information HTML 59K
44: R28 Business Segment Data HTML 205K
45: R29 Employee Benefit Plans HTML 380K
46: R30 Jointly Owned Facilities HTML 77K
47: R31 Regulatory Matters HTML 49K
48: R32 Commitments and Contingencies HTML 68K
49: R33 Subsequent Events HTML 44K
50: R34 Schedule I-Condensed Financial Information of HTML 153K
Registrant
51: R35 Pay vs Performance Disclosure HTML 54K
52: R36 Insider Trading Arrangements HTML 48K
53: R37 Significant Accounting Policies (Policies) HTML 180K
54: R38 Significant Accounting Policies (Tables) HTML 119K
55: R39 Discontinued Operations (Tables) HTML 83K
56: R40 Revenue from Contracts with Customers (Tables) HTML 171K
57: R41 Property, Plant and Equipment (Tables) HTML 81K
58: R42 Regulatory Assets and Liabilities (Tables) HTML 169K
59: R43 Goodwill and Other Intangible Assets (Tables) HTML 63K
60: R44 Fair Value Measurements (Tables) HTML 107K
61: R45 Debt (Tables) HTML 103K
62: R46 Leases (Tables) HTML 68K
63: R47 Asset Retirement Obligations (Tables) HTML 53K
64: R48 Stock-Based Compensation (Tables) HTML 75K
65: R49 Accumulated Other Comprehensive Loss (Tables) HTML 84K
66: R50 Income Taxes (Tables) HTML 131K
67: R51 Cash Flow Information (Tables) HTML 58K
68: R52 Business Segment Data (Tables) HTML 219K
69: R53 Employee Benefit Plans (Tables) HTML 375K
70: R54 Jointly Owned Facilities (Tables) HTML 77K
71: R55 Commitments and Contingencies (Tables) HTML 50K
72: R56 Significant Accounting Policies - Cash, Cash HTML 44K
Equivalents And Restricted Cash (Details)
73: R57 Significant Accounting Policies - Receivables And HTML 45K
Allowance For Expected Credit Losses (Details)
74: R58 Significant Accounting Policies - Expected Credit HTML 70K
Loss (Details)
75: R59 Significant Accounting Policies - Retainage HTML 49K
Provision Contracts (Details)
76: R60 Significant Accounting Policies - Inventories And HTML 55K
Natural Gas In Storage (Details)
77: R61 Significant Accounting Policies - Property, Plant HTML 46K
and Equipment (Details)
78: R62 Significant Accounting Policies - Impairment of HTML 44K
Long-Lived Assets, Excluding Goodwill (Details)
79: R63 Significant Accounting Policies - Natural Gas HTML 46K
Costs Recoverable or Refundable through Rate
Adjustments (Details)
80: R64 Significant Accounting Policies - Electric Fuel HTML 45K
and Purchased Power Deferral (Details)
81: R65 Significant Accounting Policies - Goodwill HTML 44K
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82: R66 Significant Accounting Policies - Joint Ventures HTML 73K
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83: R67 Significant Accounting Policies - Earnings Per HTML 92K
Share (Details)
84: R68 Significant Accounting Policies - Income Taxes HTML 43K
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85: R69 Discontinued Operations - Narrative (Details) HTML 92K
86: R70 Discontinued Operations - Schedule of Assets and HTML 136K
Liabilities of Discontinued Operations (Details)
87: R71 Discontinued Operations - Schedule of Income and HTML 66K
Expense Constituting Pretax Income (Loss) From
Discontinued Operations (Details)
88: R72 Revenue from Contracts with Customers - Narrative HTML 67K
(Details)
89: R73 Revenue from Contracts with Customers - HTML 159K
Disaggregation of Revenue (Details)
90: R74 Revenue from Contracts with Customers - Contract HTML 63K
Balances (Details)
91: R75 Property, Plant and Equipment (Details) HTML 107K
92: R76 Regulatory Assets and Liabilities - Schedule of HTML 132K
Unamortized Regulatory Assets and Liabilities
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93: R77 Regulatory Assets and Liabilities - Narrative HTML 44K
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94: R78 Environmental Allowances and Obligations (Details) HTML 46K
95: R79 Goodwill and Other Intangible Assets - Narrative HTML 62K
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96: R80 Goodwill and Other Intangible Assets - Other HTML 54K
Intangible Assets (Details)
97: R81 Goodwill and Other Intangible Assets - Future HTML 55K
Amortization Expense (Details)
98: R82 Fair Value Measurements - Narrative (Details) HTML 48K
99: R83 Fair Value Measurements - Available-for-Sale HTML 58K
Securities (Details)
100: R84 Fair Value Measurements - Schedule of Fair Value, HTML 93K
Assets and Liabilities Measured on Recurring Basis
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101: R85 Fair Value Measurements - Fair Value, by Balance HTML 52K
Sheet Grouping (Details)
102: R86 Debt - Credit Facilities (Details) HTML 76K
103: R87 Debt - Short-Term Debt (Details) HTML 80K
104: R88 Debt - Schedule of Long-Term Debt Outstanding HTML 80K
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105: R89 Debt - Long-Term Debt (Details) HTML 104K
106: R90 Debt - Schedule of Debt Maturities (Details) HTML 58K
107: R91 Leases - Narrative (Details) HTML 56K
108: R92 Leases - Lease Costs (Details) HTML 58K
109: R93 Leases - Schedule of Operating Lease Liabilities HTML 60K
Undiscounted Cash Flows Maturity (Details)
110: R94 Asset Retirement Obligations (Details) HTML 57K
111: R95 Equity - Narrative (Details) HTML 78K
112: R96 Stock-Based Compensation - Narrative (Details) HTML 100K
113: R97 Stock-Based Compensation - Schedule of Target HTML 56K
Grants of Restricted Stock Units (Details)
114: R98 Stock-Based Compensation - Schedule of Performance HTML 65K
Shares Valuation Assumptions (Details)
115: R99 Stock-Based Compensation - Restricted Stock Unit HTML 75K
and Performance Share Awards Activity (Details)
116: R100 Accumulated Other Comprehensive Loss - Schedule of HTML 80K
Accumulated Other Comprehensive Income (Loss)
(Details)
117: R101 Accumulated Other Comprehensive Loss - HTML 78K
Reclassification Out of AOCI (Details)
118: R102 Income Taxes - Components of Income Before Income HTML 51K
Taxes from Continuing Operations (Details)
119: R103 Income Taxes - Income Tax Expense (Benefit) HTML 69K
(Details)
120: R104 Income Taxes - Components of Deferred Tax Assets HTML 81K
and Liabilities (Details)
121: R105 Income Taxes - Narrative (Details) HTML 52K
122: R106 Income Taxes - Deferred Tax Reconciliation HTML 52K
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123: R107 Income Taxes - Income Tax Expense (Benefit) HTML 77K
Statutory Rate vs Actual Rate (Details)
124: R108 Cash Flow Information (Details) HTML 58K
125: R109 Business Segment Data - Schedule of Segment HTML 164K
Reporting Information, by Segment (Details)
126: R110 Business Segment Data - Operating Revenues and HTML 67K
Operating Assets Reconciliation (Details)
127: R111 Employee Benefit Plans - Change in Benefit HTML 121K
Obligations and Plan Assets (Details)
128: R112 Employee Benefit Plans - Benefit Obligations in HTML 51K
Excess of Plan Assets (Details)
129: R113 Employee Benefit Plans - Components of Net HTML 105K
Periodic Benefit Cost (Details)
130: R114 Employee Benefit Plans - Weighted Average HTML 58K
Assumptions (Details)
131: R115 Employee Benefit Plans - Narrative (Details) HTML 83K
132: R116 Employee Benefit Plans - Health Care Rate HTML 47K
Assumptions and Cost Trend Rate (Details)
133: R117 Employee Benefit Plans - Estimated Future Benefit HTML 73K
Payments and Subsidies (Details)
134: R118 Employee Benefit Plans - Pension Fair Value HTML 119K
(Details)
135: R119 Employee Benefit Plans - Other Postretirement Fair HTML 99K
value (Details)
136: R120 Employee Benefit Plans - Nonqualified Benefit HTML 48K
Plans Benefit Obligations (Details)
137: R121 Employee Benefit Plans - Nonqualified Benefit HTML 52K
Plans Components of NPBC (Details)
138: R122 Employee Benefit Plans - Nonqualified Benefit HTML 47K
Plans Weighted Average Assumptions (Details)
139: R123 Employee Benefit Plans - Nonqualified Benefit HTML 55K
Plans Future Benefit Payments (Details)
140: R124 Employee Benefit Plans - Nonqualified Benefit HTML 51K
Plans Investments (Details)
141: R125 Employee Benefit Plans -Multiemployer Plans HTML 118K
Participation by Plan (Details)
142: R126 Jointly Owned Facilities (Details) HTML 70K
143: R127 Regulatory Matters - NDPSC (Details) HTML 62K
144: R128 Regulatory Matters - SDPUC (Details) HTML 58K
145: R129 Regulatory Matters - FERC (Details) HTML 47K
146: R130 Commitments and Contingencies - Litigation HTML 47K
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147: R131 Commitments and Contingencies - Environmental HTML 72K
matters (Details)
148: R132 Commitments and Contingencies - Purchase HTML 63K
Commitments (Details)
149: R133 Commitments and Contingencies - Guarantees HTML 66K
(Details)
150: R134 Commitments and Contingencies - Variable Interest HTML 47K
Entities (Details)
151: R135 Subsequent Events (Details) HTML 60K
152: R136 Schedule I-Condensed Financial Information of HTML 102K
Registrant - Condensed Statements of Income and
Comprehensive Income (Details)
153: R137 Schedule I-Condensed Financial Information of HTML 175K
Registrant - Condensed Balance Sheets (Details)
154: R138 Schedule I-Condensed Financial Information of HTML 54K
Registrant - Condensed Balance Sheets
(Parenthetical) (Details)
155: R139 Schedule I-Condensed Financial Information of HTML 99K
Registrant - Condensed Statements of Cash Flows
(Details)
156: R140 Schedule I-Condensed Financial Information of HTML 80K
Registrant - Notes to Condensed Financial
Statements (Details)
158: XML IDEA XML File -- Filing Summary XML 298K
161: XML XBRL Instance -- mdu-20231231_htm XML 6.03M
157: EXCEL IDEA Workbook of Financial Report Info XLSX 352K
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‘EX-10.AE’ — Mdu Resources 401 K Retirement Plan Amendment 5-1-23
The MDU Resources Group, Inc. 401(k) Retirement Plan (the “Plan”), as most recently amended and restated effective April 1, 2020, is hereby amended by this Sixth Amendment effective as of May 1, 2023. All terms defined in the Plan shall have the same meanings when used herein.
1.The
Introduction of the Plan shall be amended by adding the following new paragraph to the end thereof:
In connection with the corporate spinoff of the Company’s construction materials and contracting business, including Knife River Corporation and certain other Participating Affiliates, the portion of the Plan attributable to such Participating Affiliates shall be spun off into a separate plan effective as of May 1, 2023, or as soon as administratively practicable thereafter, as further described in Schedule F herein.
2.Section C.2-2 shall be amended by adding the following new paragraph to the end thereof:
Notwithstanding
the foregoing, each Eligible Employee who is a Transfer Employee (defined in Section F-3) shall receive a pro-rata allocation mid-year in 2023 based on his or her Compensation paid through his or her last day of employment with the Employer, regardless of his or her Hours of Service or whether he or she is a Highly Compensated Employee.
3.A new Schedule F, as attached to this amendment, shall be added to the Plan after Schedule E.
* * *
The Plan is amended effective as of the date specifically set forth above and executed by a duly authorized individual on the date set forth below.
MDU RESOURCES GROUP, INC. EMPLOYEE BENEFITS COMMITTEE
F-1Plan Spinoff. The portion of the Plan attributable to the Participating Affiliates identified in Section F-2 (the “Spinoff Affiliates”) shall be spun off into the Knife River Corporation 401(k) Retirement Plan (the “KRC Plan”) in accordance with Code Section 414(l) (the “KRC Plan Spinoff”) effective May 1, 2023, or as soon as administratively practicable thereafter (the “KRC Plan Spinoff Effective Date”). The Participants and beneficiaries whose Accounts make up the portion of the Plan that will be spun off into the KRC Plan is referred to in this Schedule F as the “Spinoff Participants.” The Spinoff Participants’ Accounts (including loans) shall transfer in-kind from the Plan to the KRC Plan as of the
KRC Plan Spinoff Effective Date. Effective as of the KRC Plan Spinoff Effective Date, the Spinoff Participants’ benefits under the Plan and their rights and obligations with respect to such benefits shall be governed by the KRC Plan instead of the Plan, provided that any protected benefits applicable to the Spinoff Participants’ Accounts under the Plan shall remain in effect as to their accounts under the KRC Plan. The terms of this Schedule F supersede the other provisions of the Plan to the extent necessary to eliminate inconsistencies between this Schedule F and such other provisions.
F-2Spinoff Affiliates. The following Participating Affiliates shall cease participation in the Plan and shall commence participation in the KRC Plan effective as of the KRC Plan Spinoff Effective Date:
•Anchorage
Sand and Gravel Company, Inc.
•Baldwin Contracting Company, Inc. (dba Knife River Construction–Northern California Chico Division)
•Concrete, Inc. (dba Knife River–Northern California Ready Mix Division)
•Connolly-Pacific Co.
•DSS Company (dba Knife River Construction–Northern California Stockton Division)
•Ellis & Eastern Company
•Fairbanks Materials, Inc.
•Granite City Ready Mix, Inc. (dba Knife River Materials–Central Minnesota Division)
•Knife River Corporation–North Central (dba Knife River–Central Minnesota Division)
•Knife River Corporation–North Central (dba Knife River–North Dakota Division)
•Knife
River Corporation–Northwest
•Knife River Corporation–South
•Knife River Midwest, LLC
•LTM, Incorporated (dba Knife River Materials–Southern Oregon Division)
•Northstar Materials, Inc. (dba Knife River Materials–Northern Minnesota Division)
•Rail to Road, Inc.
•Sweetman Const. Co.
•WHC, Ltd.
161445125.3
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F-3Certain
Transfer Employees. The employment of certain employees of the Employer shall be transferred from the Employer to Knife River Corporation in May 2023. For purposes of this Section F-3, such an employee shall be referred to as a “Transfer Employee” and the date on which his or her employment is transferred from the Employer to Knife River Corporation shall be referred to as the “Transfer Date.” The Transfer Employee’s last day of employment with the Employer shall be his or her last day of participation in the Plan. The Transfer Employee shall then become a participant in the KRC Plan effective as of his or her Transfer Date, provided that he or she is an eligible employee under the KRC plan on such date. The Transfer Employee’s Accounts (including loans) shall transfer in-kind from the Plan to the KRC Plan as of the Transfer Date or as soon as administratively practicable thereafter in accordance with Code Section 414(l), and his
or her benefits under the Plan and his or her rights and obligations with respect to such benefits shall then be governed by the KRC Plan instead of the Plan, provided that any protected benefits applicable to the Transfer Employee’s Accounts under the Plan shall remain in effect as to his or her accounts under the KRC Plan.
161445125.3
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Dates Referenced Herein and Documents Incorporated by Reference