Mayville Engineering Company, Inc(NYSE:MEC) 
Mayville Engineering Company, Inc., together with its subsidiaries, operates as a contract manufacturer that serves the heavy and medium duty commercial vehicle, construction and access equipment, powersports, agriculture, military, and other end markets in the United States. The company provides a ...
Website: http://www.mecinc.com
Full Time Employees: 2,600
CEO: Robert D. Kamphuis
Sector: Industrials
Industry: Metal Fabrication
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At a glance:
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Income Statements:
Quarterly
Annual
| Unit: USD | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2021-03-31 | 2020-06-30 | 2017-03-31 |
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operating revenue: | ||||||||||||||||
energy | 6,059,000,000 | 5,130,000,000 | 5,506,000,000 | 6,026,000,000 | 5,115,000,000 | 5,245,000,000 | 5,958,000,000 | 4,933,000,000 | 5,471,000,000 | 6,095,000,000 | 4,849,000,000 | 3,419,000,000 | 3,581,000,000 | |||
real estate | 1,185,000,000 | 1,264,000,000 | 860,000,000 | 1,179,000,000 | 1,289,000,000 | 866,000,000 | 1,212,000,000 | 1,296,000,000 | 875,000,000 | 1,405,000,000 | 1,232,000,000 | 1,193,000,000 | 585,000,000 | |||
total operating revenue | 7,244,000,000 | 6,394,000,000 | 6,366,000,000 | 7,205,000,000 | 6,404,000,000 | 6,111,000,000 | 7,170,000,000 | 6,229,000,000 | 6,346,000,000 | 7,500,000,000 | 6,081,000,000 | 4,612,000,000 | 4,166,000,000 | |||
operating expenses: | ||||||||||||||||
energy: | ||||||||||||||||
cost of sales | 1,876,000,000 | 1,434,000,000 | 1,531,000,000 | 1,902,000,000 | 1,527,000,000 | 1,670,000,000 | 2,009,000,000 | 1,566,000,000 | 1,955,000,000 | 1,959,000,000 | 1,569,000,000 | 888,000,000 | 1,119,000,000 | |||
operations and maintenance | 1,373,000,000 | 1,392,000,000 | 1,249,000,000 | 1,343,000,000 | 1,310,000,000 | 1,235,000,000 | 1,184,000,000 | 1,200,000,000 | 1,542,000,000 | 1,064,000,000 | 934,000,000 | 794,000,000 | ||||
wildfire losses | 100,000,000 | |||||||||||||||
depreciation and amortization | 1,032,000,000 | 1,129,000,000 | 1,106,000,000 | 1,020,000,000 | 1,007,000,000 | 1,013,000,000 | 1,015,000,000 | 970,000,000 | 1,050,000,000 | 1,102,000,000 | 915,000,000 | 725,000,000 | 610,000,000 | |||
property and other taxes | 221,000,000 | 225,000,000 | 226,000,000 | 205,000,000 | 214,000,000 | 212,000,000 | 204,000,000 | 197,000,000 | 212,000,000 | 200,000,000 | 210,000,000 | 153,000,000 | ||||
total operating expenses | 5,748,000,000 | 5,390,000,000 | 4,983,000,000 | 5,621,000,000 | 5,549,000,000 | 5,216,000,000 | 6,856,000,000 | 5,183,000,000 | 5,679,000,000 | 5,677,000,000 | 4,748,000,000 | 3,676,000,000 | ||||
operating income | 1,496,000,000 | 1,004,000,000 | 1,383,000,000 | 1,584,000,000 | 855,000,000 | 895,000,000 | 314,000,000 | 1,046,000,000 | 667,000,000 | 1,823,000,000 | 1,333,000,000 | 936,000,000 | 971,000,000 | |||
yoy | -5.56% | 17.43% | 54.53% | 404.46% | -18.26% | 34.18% | -82.78% | -21.53% | -28.74% | |||||||
qoq | 49.00% | -27.40% | 85.26% | -4.47% | -69.98% | 56.82% | 36.76% | 42.41% | -3.60% | |||||||
other income: | ||||||||||||||||
interest expense | -707,000,000 | -709,000,000 | -686,000,000 | -679,000,000 | -675,000,000 | -691,000,000 | -603,000,000 | -599,000,000 | -586,000,000 | -555,000,000 | -530,000,000 | -503,000,000 | -458,000,000 | |||
capitalized interest | 49,000,000 | 45,000,000 | 40,000,000 | 49,000,000 | 50,000,000 | 46,000,000 | 36,000,000 | 33,000,000 | 24,000,000 | 19,000,000 | 14,000,000 | 19,000,000 | 10,000,000 | |||
allowance for equity funds | 93,000,000 | 81,000,000 | 66,000,000 | 97,000,000 | 92,000,000 | 83,000,000 | 76,000,000 | 61,000,000 | 49,000,000 | 43,000,000 | 26,000,000 | 38,000,000 | 17,000,000 | |||
interest and dividend income | 60,000,000 | 63,000,000 | 62,000,000 | 112,000,000 | 134,000,000 | 116,000,000 | 110,000,000 | 127,000,000 | 86,000,000 | 40,000,000 | 21,000,000 | 20,000,000 | 26,000,000 | |||
gains on marketable securities | 13,000,000 | 16,000,000 | 103,000,000 | 268,000,000 | 329,000,000 | -123,000,000 | -76,000,000 | 303,000,000 | 699,000,000 | -3,270,000,000 | -1,118,000,000 | 583,000,000 | ||||
other | 38,000,000 | 45,000,000 | -15,000,000 | 34,000,000 | 25,000,000 | 31,000,000 | -3,000,000 | 78,000,000 | 40,000,000 | 5,000,000 | 8,000,000 | 52,000,000 | 25,000,000 | |||
total other income | -454,000,000 | -459,000,000 | -430,000,000 | -119,000,000 | -45,000,000 | -538,000,000 | -460,000,000 | 3,000,000 | 312,000,000 | -3,718,000,000 | -1,579,000,000 | 209,000,000 | -380,000,000 | |||
income before income tax benefit and equity income | 1,042,000,000 | 545,000,000 | 953,000,000 | 1,465,000,000 | 810,000,000 | 357,000,000 | -146,000,000 | 1,049,000,000 | 979,000,000 | 1,145,000,000 | ||||||
income tax benefit | -606,000,000 | -357,000,000 | -399,000,000 | -614,000,000 | -308,000,000 | -371,000,000 | -777,000,000 | -255,000,000 | -162,000,000 | -1,213,000,000 | -535,000,000 | -7,000,000 | ||||
equity income | -129,000,000 | -160,000,000 | -120,000,000 | -73,000,000 | -125,000,000 | -39,000,000 | -60,000,000 | -99,000,000 | -38,000,000 | -32,000,000 | 24,000,000 | |||||
net income | 1,519,000,000 | 742,000,000 | 1,232,000,000 | 2,006,000,000 | 993,000,000 | 689,000,000 | 571,000,000 | 1,205,000,000 | 1,103,000,000 | -695,000,000 | 110,000,000 | 1,120,000,000 | 563,000,000 | |||
yoy | -24.28% | -25.28% | 78.81% | 251.31% | -17.59% | -37.53% | -182.16% | 995.45% | -1.52% | |||||||
qoq | 104.72% | -39.77% | 102.01% | 44.12% | -52.61% | 9.25% | -731.82% | -90.18% | 98.93% | |||||||
net income attributable to noncontrolling interests | 30,000,000 | 40,000,000 | 45,000,000 | 31,000,000 | 39,000,000 | 36,000,000 | 77,000,000 | 130,000,000 | 114,000,000 | 147,000,000 | 106,000,000 | 4,000,000 | 7,000,000 | |||
net income attributable to bhe shareholders | 1,489,000,000 | 702,000,000 | 1,187,000,000 | 1,975,000,000 | 954,000,000 | 653,000,000 | 494,000,000 | 1,075,000,000 | 989,000,000 | -842,000,000 | 4,000,000 | 1,116,000,000 | 556,000,000 | |||
preferred dividends | 3,000,000 | 8,000,000 | 9,000,000 | 8,000,000 | 8,000,000 | 38,000,000 | ||||||||||
earnings on common shares | 1,489,000,000 | 702,000,000 | 1,184,000,000 | 1,975,000,000 | 954,000,000 | 653,000,000 | 486,000,000 | 1,066,000,000 | 981,000,000 | -850,000,000 | -34,000,000 | |||||
wildfire losses, net of recoveries | 251,000,000 | 1,263,000,000 | ||||||||||||||
income before income tax benefit and equity loss | -1,895,000,000 | -246,000,000 | ||||||||||||||
equity loss | -13,000,000 | -179,000,000 | ||||||||||||||
operating costs and expenses: | ||||||||||||||||
operating expense | 883,000,000 | |||||||||||||||
total operating costs and expenses | 3,195,000,000 | |||||||||||||||
income before income tax expense and equity income | 591,000,000 | |||||||||||||||
income tax expense | 52,000,000 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2023-09-30 | 2021-09-30 | 2019-03-31 | 2008-06-30 | 2007-03-31 | 2006-12-31 | 2006-09-30 | 2006-06-30 | 2006-03-31 | 2005-06-30 | 2005-03-31 | 2004-12-31 | 2004-09-30 | 2004-03-31 |
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assets | ||||||||||||||||||||||
current assets: | ||||||||||||||||||||||
cash and cash equivalents | 93,000,000 | 1,695,000,000 | 2,155,000,000 | 2,212,000,000 | 2,757,000,000 | 1,392,000,000 | 2,594,000,000 | 3,265,000,000 | 44,000,000 | 2,709,000,000 | 1,661,000,000 | 75,000,000 | 5,035,000 | 8,765,000 | 4,058,000 | 4,240,000 | 187,434,000 | 8,655,000 | 48,636,000 | 127,613,000 | 40,231,000 | 60,675,000 |
trade receivables | 228,000,000 | 2,678,000,000 | 2,765,000,000 | 2,658,000,000 | 2,458,000,000 | 2,551,000,000 | 2,772,000,000 | 2,685,000,000 | 558,000,000 | 2,545,000,000 | 1,898,000,000 | |||||||||||
amounts due from affiliate | 70,000,000 | |||||||||||||||||||||
inventories | 227,000,000 | 2,105,000,000 | 2,073,000,000 | 2,057,000,000 | 1,983,000,000 | 1,962,000,000 | 1,892,000,000 | 1,755,000,000 | 127,000,000 | 1,129,000,000 | 785,000,000 | 106,000,000 | 37,241,000 | 113,343,000 | 99,560,000 | 64,426,000 | 36,719,000 | 47,070,000 | 32,479,000 | 89,646,000 | 97,650,000 | 28,202,000 |
regulatory assets | 44,000,000 | 892,000,000 | 1,022,000,000 | 1,050,000,000 | 1,118,000,000 | 1,136,000,000 | 1,218,000,000 | 1,176,000,000 | 780,000,000 | 3,372,000,000 | 2,898,000,000 | 330,000,000 | 238,567,000 | 273,242,000 | 232,750,000 | 202,757,000 | 215,341,000 | 223,832,000 | 210,420,000 | 227,997,000 | 258,601,000 | 289,535,000 |
prepayments | 94,000,000 | |||||||||||||||||||||
other current assets | 20,000,000 | 1,315,000,000 | 1,082,000,000 | 1,154,000,000 | 1,442,000,000 | 1,314,000,000 | 1,496,000,000 | 960,000,000 | 68,000,000 | 2,142,000,000 | 1,080,000,000 | |||||||||||
total current assets | 776,000,000 | 9,637,000,000 | 10,063,000,000 | 10,303,000,000 | 10,537,000,000 | 9,099,000,000 | 10,867,000,000 | 12,457,000,000 | 1,577,000,000 | 10,428,000,000 | 6,111,000,000 | |||||||||||
property, plant and equipment | 10,605,000,000 | 112,368,000,000 | 109,754,000,000 | 107,858,000,000 | 105,314,000,000 | 103,769,000,000 | 102,845,000,000 | 101,012,000,000 | 8,269,000,000 | 88,062,000,000 | 68,948,000,000 | |||||||||||
other assets | 356,000,000 | 3,264,000,000 | 2,941,000,000 | 2,940,000,000 | 2,976,000,000 | 3,011,000,000 | 3,126,000,000 | 3,112,000,000 | 382,000,000 | 2,902,000,000 | 2,048,000,000 | 121,681,000 | 129,943,000 | 60,442,000 | 50,092,000 | 125,869,000 | 117,035,000 | 119,120,000 | 110,057,000 | 87,817,000 | 55,987,000 | |
total assets | 12,170,000,000 | 148,327,000,000 | 146,146,000,000 | 144,604,000,000 | 142,269,000,000 | 140,140,000,000 | 140,496,000,000 | 141,138,000,000 | 10,795,000,000 | 131,554,000,000 | 94,545,000,000 | 7,855,000,000 | 6,668,441,000 | 6,509,593,000 | 5,956,408,000 | 5,707,019,000 | 5,870,485,000 | 5,162,155,000 | 5,158,927,000 | 5,111,951,000 | 4,694,641,000 | 4,529,753,000 |
liabilities and shareholder's equity | ||||||||||||||||||||||
current liabilities: | ||||||||||||||||||||||
accounts payable | 339,000,000 | 3,389,000,000 | 3,404,000,000 | 2,938,000,000 | 2,696,000,000 | 2,928,000,000 | 2,858,000,000 | 2,818,000,000 | 428,000,000 | 1,798,000,000 | 1,434,000,000 | 349,000,000 | 501,063,000 | 497,672,000 | 398,260,000 | 374,664,000 | 240,688,000 | 174,742,000 | 239,931,000 | 241,836,000 | 186,724,000 | 185,351,000 |
amounts due to affiliates | 296,000,000 | |||||||||||||||||||||
accrued interest | 56,000,000 | 797,000,000 | 761,000,000 | 773,000,000 | 802,000,000 | 728,000,000 | 758,000,000 | 798,000,000 | 51,000,000 | 622,000,000 | 522,000,000 | |||||||||||
accrued employee expenses | 29,000,000 | 345,000,000 | 447,000,000 | 492,000,000 | 388,000,000 | 364,000,000 | 497,000,000 | 499,000,000 | 556,000,000 | 316,000,000 | ||||||||||||
short-term debt | 1,997,000,000 | 1,719,000,000 | 1,687,000,000 | 685,000,000 | 1,123,000,000 | 773,000,000 | 985,000,000 | 1,968,000,000 | 2,214,000,000 | |||||||||||||
current portion of long-term debt | 1,455,000,000 | 1,553,000,000 | 1,855,000,000 | 2,338,000,000 | 2,646,000,000 | 4,183,000,000 | 3,895,000,000 | 1,179,000,000 | 1,078,000,000 | 465,000 | 1,620,000 | 1,150,000 | 1,299,000 | 161,438,000 | 160,265,000 | 417,000 | 91,018,000 | 90,629,000 | 146,518,000 | |||
customer deposits | 60,000,000 | 57,000,000 | ||||||||||||||||||||
other current liabilities | 170,000,000 | 1,930,000,000 | 2,272,000,000 | 2,421,000,000 | 1,903,000,000 | 2,109,000,000 | 2,408,000,000 | 2,227,000,000 | 88,000,000 | 2,054,000,000 | 1,358,000,000 | |||||||||||
total current liabilities | 950,000,000 | 11,392,000,000 | 11,165,000,000 | 11,334,000,000 | 9,705,000,000 | 10,941,000,000 | 12,510,000,000 | 12,229,000,000 | 823,000,000 | 8,847,000,000 | 7,397,000,000 | |||||||||||
senior debt | 3,306,000,000 | |||||||||||||||||||||
junior subordinated debt | 297,000,000 | |||||||||||||||||||||
finance lease obligations | 243,000,000 | 280,000,000 | ||||||||||||||||||||
regulatory liabilities | 974,000,000 | 6,772,000,000 | 6,761,000,000 | 6,779,000,000 | 6,708,000,000 | 6,754,000,000 | 6,701,000,000 | 6,876,000,000 | 50,000,000 | 6,958,000,000 | 7,347,000,000 | 800,000,000 | 1,007,072,000 | 989,044,000 | 823,359,000 | 788,214,000 | 766,209,000 | 727,067,000 | 708,790,000 | 677,489,000 | 664,185,000 | 603,556,000 |
deferred income taxes | 825,000,000 | 12,999,000,000 | 12,805,000,000 | 12,727,000,000 | 12,617,000,000 | 12,628,000,000 | 12,383,000,000 | 12,235,000,000 | 904,000,000 | 12,910,000,000 | 9,080,000,000 | 623,000,000 | 477,459,000 | 471,369,000 | 469,282,000 | 472,963,000 | 471,205,000 | 476,669,000 | 480,577,000 | 486,970,000 | 505,387,000 | 450,681,000 |
other long-term liabilities | 674,000,000 | 5,624,000,000 | 5,904,000,000 | 5,814,000,000 | 6,141,000,000 | 5,917,000,000 | 5,927,000,000 | 6,017,000,000 | 345,000,000 | 4,304,000,000 | 3,721,000,000 | |||||||||||
total liabilities | 7,269,000,000 | 93,018,000,000 | 91,486,000,000 | 91,240,000,000 | 90,120,000,000 | 88,851,000,000 | 89,895,000,000 | 89,932,000,000 | 6,760,000,000 | 81,938,000,000 | 64,383,000,000 | |||||||||||
commitments and contingencies | ||||||||||||||||||||||
shareholder's equity: | ||||||||||||||||||||||
common stock - 1.00 stated value; 1,000 shares authorized, issued and outstanding | ||||||||||||||||||||||
additional paid-in capital | 3,323,000,000 | 5,558,000,000 | 5,558,000,000 | 5,558,000,000 | 5,558,000,000 | 5,558,000,000 | 5,418,000,000 | 5,573,000,000 | 2,733,000,000 | 6,374,000,000 | 6,355,000,000 | |||||||||||
retained earnings | 1,579,000,000 | 50,351,000,000 | 49,683,000,000 | 48,194,000,000 | 47,493,000,000 | 46,311,000,000 | 45,626,000,000 | 46,371,000,000 | 1,303,000,000 | 39,199,000,000 | 25,968,000,000 | |||||||||||
accumulated other comprehensive loss | -1,000,000 | -1,844,000,000 | -1,837,000,000 | -1,653,000,000 | -2,178,000,000 | -2,341,000,000 | -1,725,000,000 | -2,033,000,000 | -1,000,000 | -1,523,000,000 | -1,830,000,000 | |||||||||||
total shareholder's equity | 4,901,000,000 | 4,035,000,000 | ||||||||||||||||||||
total liabilities and shareholder's equity | 12,170,000,000 | 10,795,000,000 | ||||||||||||||||||||
the accompanying notes are an integral part of the consolidated financial statements. | ||||||||||||||||||||||
investments and restricted cash and cash equivalents | 254,000,000 | 303,000,000 | 278,000,000 | 235,000,000 | 216,000,000 | 336,000,000 | 1,911,000,000 | |||||||||||||||
mortgage loans held for sale | 698,000,000 | 663,000,000 | 894,000,000 | 544,000,000 | 528,000,000 | 559,000,000 | 705,000,000 | 1,687,000,000 | 506,000,000 | |||||||||||||
goodwill | 11,521,000,000 | 11,500,000,000 | 11,547,000,000 | 11,426,000,000 | 11,413,000,000 | 11,545,000,000 | 11,494,000,000 | 11,572,000,000 | 9,663,000,000 | |||||||||||||
investments and restricted cash and cash equivalents and investments | 7,608,000,000 | 7,707,000,000 | 7,765,000,000 | 8,635,000,000 | 7,879,000,000 | 8,847,000,000 | 15,218,000,000 | 4,877,000,000 | ||||||||||||||
liabilities and equity | ||||||||||||||||||||||
accrued property, income and other taxes | 745,000,000 | 1,009,000,000 | 1,168,000,000 | 893,000,000 | 1,043,000,000 | 1,033,000,000 | 1,007,000,000 | 100,000,000 | 670,000,000 | 475,000,000 | ||||||||||||
wildfires liabilities | 734,000,000 | |||||||||||||||||||||
bhe senior debt | 11,461,000,000 | 11,460,000,000 | 11,459,000,000 | 11,458,000,000 | 11,457,000,000 | 11,456,000,000 | 11,455,000,000 | 13,001,000,000 | 8,228,000,000 | |||||||||||||
subsidiary debt | 42,759,000,000 | 41,154,000,000 | 40,918,000,000 | 41,020,000,000 | 35,818,000,000 | 28,510,000,000 | ||||||||||||||||
subsidiary junior subordinated debt | 1,584,000,000 | 1,584,000,000 | 1,138,000,000 | 1,140,000,000 | ||||||||||||||||||
equity: | ||||||||||||||||||||||
bhe shareholders' equity: | ||||||||||||||||||||||
preferred stock - 100,000,000 shares authorized, 0.01 par value... | 481,000,000 | |||||||||||||||||||||
common stock - 100 shares authorized, no par value, 1 share issued and outstanding | ||||||||||||||||||||||
total bhe shareholders' equity | 54,065,000,000 | 50,009,000,000 | 49,319,000,000 | 49,911,000,000 | 45,692,000,000 | 30,036,000,000 | ||||||||||||||||
noncontrolling interests | 1,244,000,000 | 1,256,000,000 | 1,265,000,000 | 1,276,000,000 | 1,280,000,000 | 1,282,000,000 | 1,295,000,000 | 3,924,000,000 | 126,000,000 | |||||||||||||
total equity | 55,309,000,000 | 54,660,000,000 | 53,364,000,000 | 52,149,000,000 | 51,289,000,000 | 50,601,000,000 | 51,206,000,000 | 49,616,000,000 | 30,162,000,000 | |||||||||||||
total liabilities and equity | 148,327,000,000 | 146,146,000,000 | 144,604,000,000 | 142,269,000,000 | 140,140,000,000 | 140,496,000,000 | 141,138,000,000 | 131,554,000,000 | 94,545,000,000 | |||||||||||||
subsidiary senior debt | 41,807,000,000 | 41,989,000,000 | 42,351,000,000 | |||||||||||||||||||
bhe shareholder's equity: | ||||||||||||||||||||||
total bhe shareholder's equity | 53,404,000,000 | 52,099,000,000 | 50,873,000,000 | |||||||||||||||||||
investments and restricted cash, cash equivalents and investments | 7,835,000,000 | |||||||||||||||||||||
bhe junior subordinated debentures | 100,000,000 | 100,000,000 | 100,000,000 | |||||||||||||||||||
common stock - 100 and 115,000,000 shares authorized, no par value, 1 and 75,627,913 shares issued and outstanding | ||||||||||||||||||||||
common stock - 115 shares authorized, no par value, 71 and 76 shares issued and outstanding | ||||||||||||||||||||||
common stock - 115 shares authorized, no par value, 76 shares issued and outstanding | ||||||||||||||||||||||
note receivable from affiliate | ||||||||||||||||||||||
derivative contracts | 49,000,000 | |||||||||||||||||||||
long-term debt | 3,391,000,000 | |||||||||||||||||||||
restricted cash and cash equivalents | 216,000,000 | 181,000,000 | ||||||||||||||||||||
preferred stock - 100 shares authorized, 0.01 par value... | 2,300,000,000 | |||||||||||||||||||||
long-term income tax receivable | -658,000,000 | -457,000,000 | ||||||||||||||||||||
common stock - 115 shares authorized, no par value, 77 shares issued and outstanding | ||||||||||||||||||||||
utility plant | ||||||||||||||||||||||
electric | 7,748,000,000 | 6,415,190,000 | 6,366,054,000 | 6,151,407,000 | 6,078,324,000 | 5,986,787,000 | 5,609,276,000 | 5,540,484,000 | 5,498,878,000 | 5,158,793,000 | 5,070,399,000 | |||||||||||
gas | 1,112,000,000 | 1,041,810,000 | 1,031,341,000 | 1,022,910,000 | 1,014,398,000 | 1,001,056,000 | 974,897,000 | 965,949,000 | 957,011,000 | 947,801,000 | 927,615,000 | |||||||||||
accumulated depreciation and amortization | -3,336,000,000 | -3,309,279,000 | -3,261,001,000 | -3,237,309,000 | -3,196,872,000 | -3,149,555,000 | -3,040,039,000 | -2,956,856,000 | -2,946,206,000 | |||||||||||||
construction work in progress | 551,000,000 | 1,101,760,000 | 866,677,000 | 826,288,000 | 730,535,000 | 643,255,000 | 581,484,000 | 495,637,000 | 369,406,000 | 465,945,000 | 289,098,000 | |||||||||||
current assets | ||||||||||||||||||||||
receivables | 578,000,000 | 473,993,000 | 282,830,000 | 280,909,000 | 398,853,000 | 264,085,000 | 346,839,000 | 218,691,000 | 322,345,000 | |||||||||||||
other | 108,000,000 | 125,799,000 | 163,192,000 | 130,697,000 | 110,397,000 | 33,198,000 | 27,781,000 | 35,474,000 | 22,080,000 | 45,609,000 | 36,371,000 | |||||||||||
investments and nonregulated property | 457,000,000 | 416,644,000 | 409,533,000 | 382,775,000 | 367,813,000 | 367,328,000 | 348,079,000 | 341,526,000 | 333,360,000 | 319,709,000 | 313,657,000 | |||||||||||
capitalization and liabilities | ||||||||||||||||||||||
capitalization | ||||||||||||||||||||||
common shareholder’s equity | 2,465,000,000 | 2,059,771,000 | 1,950,779,000 | 1,957,033,000 | 1,876,828,000 | 1,831,549,000 | 1,612,531,000 | 1,580,628,000 | 1,527,468,000 | 1,476,941,000 | 1,382,837,000 | |||||||||||
preferred securities | 30,000,000 | |||||||||||||||||||||
long-term debt, excluding current portion | 2,819,000,000 | 1,819,461,000 | 1,819,389,000 | 1,470,497,000 | 1,470,431,000 | 1,470,263,000 | 1,171,667,000 | 1,331,583,000 | 1,331,509,000 | 982,269,000 | 982,093,000 | |||||||||||
current liabilities | ||||||||||||||||||||||
notes payable | 100,000,000 | 70,000,000 | 10,000,000 | |||||||||||||||||||
taxes accrued | 107,000,000 | 107,896,000 | 99,150,000 | 97,749,000 | 112,244,000 | 115,865,000 | 98,087,000 | 93,855,000 | 70,810,000 | 23,184,000 | 71,966,000 | |||||||||||
interest accrued | 44,000,000 | 28,749,000 | 32,407,000 | 26,174,000 | 14,161,000 | 29,090,000 | 11,565,000 | 21,763,000 | 13,842,000 | 14,370,000 | 15,912,000 | |||||||||||
other liabilities | ||||||||||||||||||||||
investment tax credits | 37,000,000 | 39,758,000 | 40,569,000 | 41,527,000 | 42,318,000 | 43,333,000 | 46,052,000 | 47,097,000 | 48,143,000 | 49,232,000 | 51,418,000 | |||||||||||
asset retirement obligations | 199,000,000 | 175,707,000 | 173,204,000 | 200,104,000 | 196,621,000 | 193,887,000 | 171,615,000 | 169,229,000 | 166,845,000 | 280,704,000 | 272,930,000 | |||||||||||
total capitalization and liabilities | 7,855,000,000 | 6,668,441,000 | 6,509,593,000 | 5,956,408,000 | 5,707,019,000 | 5,870,485,000 | 5,162,155,000 | 5,158,927,000 | 5,111,951,000 | 4,694,641,000 | 4,529,753,000 | |||||||||||
short-term investments | 15,000,000 | 24,200,000 | 25,000,000 | |||||||||||||||||||
midamerican energy preferred securities | 30,329,000 | 30,329,000 | 30,329,000 | 30,329,000 | 30,329,000 | 30,329,000 | 30,329,000 | 30,329,000 | 30,329,000 | 30,329,000 | ||||||||||||
receivables, less allowances of 9,565 and 10,872, respectively | 393,504,000 | |||||||||||||||||||||
receivables, less reserves of 8,678 and 7,484, respectively | 332,759,000 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-09-30 | 2024-06-30 | 2023-09-30 | 2019-03-31 | 2008-06-30 | 2007-03-31 | 2006-12-31 | 2006-06-30 | 2006-03-31 | 2005-03-31 | 2004-12-31 | 2004-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
cash flows from operating activities: | ||||||||||||||||
net income | 1,174,000,000 | 3,493,000,000 | 1,974,000,000 | 1,232,000,000 | 3,688,000,000 | 1,682,000,000 | 2,879,000,000 | 625,000,000 | 167,000,000 | 92,110,000 | 49,449,000 | 132,558,000 | 86,968,000 | 56,349,000 | 50,839,000 | 64,887,000 |
adjustments to reconcile net income to net cash flows from operating activities: | ||||||||||||||||
losses on marketable securities | 5,000,000 | -103,000,000 | -926,000,000 | 68,000,000 | ||||||||||||
depreciation and amortization | 1,135,000,000 | 3,297,000,000 | 2,255,000,000 | 1,116,000,000 | 3,075,000,000 | 2,044,000,000 | 3,072,000,000 | 733,000,000 | 149,000,000 | 69,725,000 | 54,594,000 | 162,109,000 | 74,979,000 | 63,728,000 | 43,582,000 | 82,836,000 |
allowance for equity funds | -80,000,000 | -240,000,000 | -147,000,000 | -66,000,000 | -272,000,000 | -175,000,000 | -186,000,000 | -32,000,000 | ||||||||
equity loss, net of distributions | 146,000,000 | 479,000,000 | 332,000,000 | 153,000,000 | 334,000,000 | 233,000,000 | 274,000,000 | 26,000,000 | ||||||||
net power cost deferrals | 22,000,000 | -429,000,000 | -61,000,000 | -88,000,000 | -62,000,000 | 275,000,000 | -722,000,000 | |||||||||
amortization of net power cost deferrals | 236,000,000 | 726,000,000 | 430,000,000 | 220,000,000 | 389,000,000 | 174,000,000 | 303,000,000 | |||||||||
other changes in regulatory assets and liabilities | 9,000,000 | -105,000,000 | -162,000,000 | -13,000,000 | -82,000,000 | -90,000,000 | -222,000,000 | |||||||||
deferred income taxes and investment tax credits | 333,000,000 | -97,000,000 | -107,000,000 | -92,000,000 | -181,000,000 | -72,000,000 | -172,000,000 | |||||||||
other | 41,000,000 | 53,000,000 | 158,000,000 | 72,000,000 | -46,000,000 | -11,000,000 | -62,000,000 | 1,000,000 | -14,000,000 | 2,622,000 | -24,704,000 | -2,658,000 | 6,555,000 | 5,700,000 | -10,276,000 | 2,857,000 |
changes in other operating assets and liabilities, net of effects from acquisitions: | ||||||||||||||||
trade receivables and other assets | -113,000,000 | -262,000,000 | -405,000,000 | 107,000,000 | -771,000,000 | -457,000,000 | -224,000,000 | 144,000,000 | ||||||||
derivative collateral | -53,000,000 | -10,000,000 | 14,000,000 | 10,000,000 | -23,000,000 | -38,000,000 | -201,000,000 | -3,000,000 | ||||||||
pension and other postretirement benefit plans | -2,000,000 | -15,000,000 | -6,000,000 | -1,000,000 | -12,000,000 | -5,000,000 | -10,000,000 | -21,000,000 | ||||||||
accrued property, income and other taxes | -778,000,000 | -62,000,000 | 107,000,000 | -349,000,000 | 141,000,000 | 201,000,000 | -52,000,000 | -48,000,000 | ||||||||
accounts payable and other liabilities | -128,000,000 | 254,000,000 | 114,000,000 | -161,000,000 | 400,000,000 | 505,000,000 | 512,000,000 | 68,000,000 | ||||||||
wildfires insurance receivable | 98,000,000 | 98,000,000 | 98,000,000 | 365,000,000 | 360,000,000 | -257,000,000 | ||||||||||
wildfires liability | -584,000,000 | -82,000,000 | -155,000,000 | -114,000,000 | -278,000,000 | 160,000,000 | 1,854,000,000 | |||||||||
net cash flows from operating activities | 1,363,000,000 | 6,966,000,000 | 4,320,000,000 | 2,021,000,000 | 6,191,000,000 | 4,580,000,000 | 5,860,000,000 | 1,488,000,000 | 361,000,000 | |||||||
cash flows from investing activities: | ||||||||||||||||
capital expenditures | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||
free cash flows | 214,988,000 | 39,888,000 | 388,292,000 | 244,919,000 | 181,740,000 | 28,368,000 | 221,712,000 | |||||||||
purchases of marketable securities | -153,000,000 | -373,000,000 | -238,000,000 | -94,000,000 | -258,000,000 | -195,000,000 | -226,000,000 | -159,000,000 | ||||||||
proceeds from sales of marketable securities | 193,000,000 | 943,000,000 | 811,000,000 | 667,000,000 | 1,841,000,000 | 892,000,000 | 2,138,000,000 | 153,000,000 | ||||||||
equity method investments | -11,000,000 | -39,000,000 | -45,000,000 | -22,000,000 | -14,000,000 | -13,000,000 | -12,000,000 | -7,000,000 | ||||||||
net cash flows from investing activities | -2,358,000,000 | -7,020,000,000 | -4,071,000,000 | -1,573,000,000 | -3,600,000,000 | -4,016,000,000 | -3,222,000,000 | -1,415,000,000 | -561,000,000 | |||||||
cash flows from financing activities: | ||||||||||||||||
preferred stock redemptions | -481,000,000 | -481,000,000 | -481,000,000 | |||||||||||||
preferred dividends | -3,000,000 | -3,000,000 | -3,000,000 | -17,000,000 | ||||||||||||
repayments of bhe senior debt | -1,650,000,000 | -1,650,000,000 | -400,000,000 | -400,000,000 | ||||||||||||
proceeds from subsidiary debt | 4,568,000,000 | 3,115,000,000 | 2,670,000,000 | 2,353,000,000 | 5,317,000,000 | 5,317,000,000 | 3,413,000,000 | 2,945,000,000 | ||||||||
repayments of subsidiary debt | -210,000,000 | -720,000,000 | -388,000,000 | -40,000,000 | -921,000,000 | -866,000,000 | -1,868,000,000 | -1,420,000,000 | ||||||||
net repayments of short-term debt | -989,000,000 | -441,000,000 | -311,000,000 | |||||||||||||
distributions to noncontrolling interests | -68,000,000 | -136,000,000 | -96,000,000 | -46,000,000 | -129,000,000 | -85,000,000 | -357,000,000 | |||||||||
net cash flows from financing activities | 3,493,000,000 | 843,000,000 | 572,000,000 | 925,000,000 | -1,510,000,000 | 1,186,000,000 | -2,074,000,000 | 900,000,000 | 264,000,000 | |||||||
effect of exchange rate changes | -7,000,000 | 11,000,000 | 13,000,000 | 4,000,000 | 2,000,000 | -9,000,000 | 2,000,000 | 1,000,000 | ||||||||
net change in cash and cash equivalents and restricted cash and cash equivalents | 2,491,000,000 | 800,000,000 | 834,000,000 | 1,377,000,000 | 1,083,000,000 | 1,741,000,000 | 566,000,000 | 974,000,000 | ||||||||
cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 1,878,000,000 | 1,586,000,000 | 1,586,000,000 | 1,586,000,000 | 1,811,000,000 | 1,811,000,000 | 1,817,000,000 | 883,000,000 | ||||||||
cash and cash equivalents and restricted cash and cash equivalents at end of period | 4,369,000,000 | 2,386,000,000 | 2,420,000,000 | 2,963,000,000 | 2,894,000,000 | 3,552,000,000 | 2,383,000,000 | 1,857,000,000 | ||||||||
gains on marketable securities | -132,000,000 | -119,000,000 | -474,000,000 | -206,000,000 | ||||||||||||
purchases of u.s. treasury bills | -39,000,000 | -39,000,000 | -1,651,000,000 | -1,287,000,000 | -3,294,000,000 | |||||||||||
proceeds from sales of u.s. treasury bills | 1,975,000,000 | 1,651,000,000 | ||||||||||||||
proceeds from maturities of u.s. treasury bills | 723,000,000 | 723,000,000 | 3,034,000,000 | |||||||||||||
common stock repurchases | -2,276,000,000 | |||||||||||||||
repayments of bhe junior subordinated debentures | -91,000,000 | |||||||||||||||
net proceeds from (repayments of) short-term debt | 587,000,000 | 551,000,000 | 498,000,000 | |||||||||||||
(gains) losses on marketable securities | ||||||||||||||||
equity (income) loss, net of distributions | ||||||||||||||||
acquisitions, net of cash acquired | -26,000,000 | |||||||||||||||
repayment of note payable | ||||||||||||||||
proceeds from bhe senior debt | ||||||||||||||||
repayments of bhe junior subordinated debt | ||||||||||||||||
net (repayments of) proceeds from short-term debt | -3,380,000,000 | -3,162,000,000 | ||||||||||||||
purchase of cove point noncontrolling interest | -3,300,000,000 | |||||||||||||||
losses (gains) on marketable securities | ||||||||||||||||
proceeds from other investments | ||||||||||||||||
common stock purchases | -293,000,000 | |||||||||||||||
purchases of other investments | ||||||||||||||||
proceeds from issuance of preferred stock | ||||||||||||||||
changes in regulatory assets and liabilities | -52,000,000 | |||||||||||||||
contributions from noncontrolling interests | ||||||||||||||||
deferred income taxes and amortization of investment tax credits | -21,000,000 | |||||||||||||||
equity income, net of distributions | ||||||||||||||||
increase in restricted cash and investments | ||||||||||||||||
purchases of available-for-sale securities | -72,000,000 | -28,859,000 | -467,605,000 | -303,163,000 | ||||||||||||
proceeds from sales of available-for-sale securities | 69,000,000 | 39,387,000 | 316,579,000 | 487,602,000 | 300,164,000 | 90,002,000 | ||||||||||
net proceeds from short-term debt | ||||||||||||||||
net change in cash and cash equivalents | 64,000,000 | |||||||||||||||
cash and cash equivalents at beginning of period | 11,000,000 | 8,765,000 | 70,914,000 | 70,914,000 | 88,113,000 | 3,151,000 | ||||||||||
cash and cash equivalents at end of period | 75,000,000 | 5,035,000 | 4,240,000 | 187,434,000 | 48,636,000 | 60,675,000 | ||||||||||
deferred income taxes and investment tax credit | 92,000,000 | 4,560,000 | -766,000 | -1,709,000 | -43,251,000 | 26,262,000 | ||||||||||
amortization of other assets and liabilities | 14,000,000 | 6,414,000 | 6,727,000 | 13,223,000 | 6,834,000 | 6,705,000 | 13,209,000 | 1,399,000 | ||||||||
impact of changes in working capital- | ||||||||||||||||
receivables | -98,000,000 | -79,124,000 | -112,030,000 | 178,396,000 | 58,083,000 | 10,500,000 | -124,414,000 | |||||||||
inventories | 27,000,000 | 76,102,000 | 20,197,000 | 47,904,000 | 57,167,000 | 8,004,000 | 57,263,000 | |||||||||
accounts payable | 8,000,000 | 42,392,000 | -161,350,000 | -89,359,000 | 62,529,000 | |||||||||||
taxes accrued | 5,000,000 | 11,659,000 | 258,000 | 29,281,000 | 31,743,000 | 23,045,000 | 47,626,000 | |||||||||
other current assets and liabilities | 11,000,000 | -11,472,000 | 1,792,000 | 17,302,000 | 22,921,000 | 5,105,000 | -19,480,000 | |||||||||
utility construction expenditures | -560,000,000 | -331,680,000 | -323,063,000 | -130,484,000 | -207,777,000 | |||||||||||
dividends paid | -1,000,000 | -312,000 | -623,000 | -312,000 | -312,000 | |||||||||||
proceeds from long-term debt | 349,000,000 | |||||||||||||||
retirement of long-term debt | ||||||||||||||||
net change in notes payable | -86,000,000 | |||||||||||||||
adjustments to reconcile net income to net cash provided: | ||||||||||||||||
net cash from operating activities | 214,988,000 | 39,888,000 | 388,292,000 | 244,919,000 | 181,740,000 | 28,368,000 | 221,712,000 | |||||||||
quad cities station decommissioning trust fund | -399,000 | -2,075,000 | ||||||||||||||
net cash from investing activities | -318,299,000 | -298,822,000 | -129,064,000 | -288,488,000 | ||||||||||||
retirement of long-term debt, including reacquisition cost | -1,155,000 | -160,292,000 | -145,000 | -147,000 | ||||||||||||
net increase in notes payable | 100,000,000 | 10,000,000 | ||||||||||||||
net cash from financing activities | 99,581,000 | -156,144,000 | 347,502,000 | |||||||||||||
net increase in cash and cash equivalents | -3,730,000 | 116,520,000 | 87,382,000 | 57,524,000 | ||||||||||||
issuance of long-term debt, net of issuance cost | ||||||||||||||||
net decrease in notes payable | 0 | |||||||||||||||
cash and cash equivalents at beginning of year | ||||||||||||||||
cash and cash equivalents at end of year | ||||||||||||||||
supplemental disclosure: | ||||||||||||||||
interest paid, net of amounts capitalized | 10,642,000 | 19,198,000 | 10,468,000 | |||||||||||||
income taxes paid | 23,224,000 | |||||||||||||||
impact of changes in working capital: | ||||||||||||||||
quad cities station decommissioning trust fund contributions | -4,150,000 | -2,075,000 | ||||||||||||||
net decrease in cash and cash equivalents | -66,674,000 | |||||||||||||||
other investing activities | 6,494,000 | -181,000 | ||||||||||||||
net cash provided (used) in financing activities | 665,000 | |||||||||||||||
reacquisition of preferred securities | 0 | |||||||||||||||
power purchase contract restructuring receipt | ||||||||||||||||
cash outflows of accounts receivable securitization | ||||||||||||||||
non-cash and accrued utility construction expenditures | 4,984,000 | |||||||||||||||
collateral received | ||||||||||||||||
other current assets | ||||||||||||||||
interest accrued | 5,677,000 | |||||||||||||||
other current liabilities | 5,724,000 |