FORM 10-K
48
MDU RESOURCES G ROUP, INC.
PART II
Item 6. Selected Financial Data
2007
2006
2005
2004
2003
2002
Selected Financial Data
Operating revenues (000's):
Electric
$ 193,367
$
187,301
$ 181,238
$ 178,803
$ 178,562
$ 162,616
Natural gas distribution
532,997
351,988
384,199
316,120
274,608
186,569
Construction services
1,103,215
987,582
687,125
426,821
434,177
458,660
Pipeline and energy services
447,063
443,720
477,311
354,164
250,897
163,466
Natural gas and oil production
514,854
483,952
439,367
342,840
264,358
203,595
Construction materials and contracting
1,761,473
1,877,021
1,604,610
1,322,161
1,104,408
962,312
Other
10,061
8,117
6,038
4,423
2,728
3,778
Intersegment eliminations
(315,134)
(335,142)
(375,965)
(272,199)
(191,105)
(114,249)
$ 4,247,896
$4,004,539
$3,403,923
$2,673,133
$ 2,318,633
$ 2,026,747
Operating income (000's):
Electric
$
31,652
$
27,716
$
29,038
$
26,776
$
35,761
$
33,915
Natural gas distribution
32,903
8,744
7,404
1,820
6,502
2,414
Construction services
75,511
50,651
28,171
(5,757)
12,885
13,980
Pipeline and energy services
58,026
57,133
43,507
29,570
37,064
40,118
Natural gas and oil production
227,728
231,802
230,383
178,897
118,347
85,555
Construction materials and contracting
138,635
156,104
105,318
86,030
91,579
91,430
Other
(7,335)
(9,075)
(5,298)
(3,954)
(1,228)
(1,111)
$
557,120
$ 523,075
$ 438,523
$ 313,382
$ 300,910
$ 266,301
Earnings on common stock (000's):
Electric
$
17,700
$
14,401
$
13,940
$
12,790
$
16,950
$
15,780
Natural gas distribution
14,044
5,680
3,515
2,182
3,869
3,587
Construction services
43,843
27,851
14,558
(5,650)
6,170
6,371
Pipeline and energy services
31,408
32,126
22,867
13,806
19,852
20,099
Natural gas and oil production
142,485
145,657
141,625
110,779
70,767
53,192
Construction materials and contracting
77,001
85,702
55,040
50,707
54,261
48,702
Other
(4,380)
(4,324)
13,061
15,967
597
497
Earnings on common stock before income (loss)
from discontinued operations and cumulative
effect of accounting change
322,101
307,093
264,606
200,581
172,466
148,228
Income (loss) from discontinued operations, net of tax
109,334
7,979
9,792
5,801
9,730
(540)
Cumulative effect of accounting change
(7,589)
$ 431,435
$ 315,072
$ 274,398
$ 206,382
$ 174,607
$ 147,688
Earnings per common share before
discontinued operations and cumulative
effect of accounting change -- diluted
$
1.76
$
1.69
$
1.47
$
1.14
$
1.02
$
.92
Discontinued operations, net of tax
.60
.05
.06
.03
.06
Cumulative effect of accounting change
(.04)
$
2.36
$
1.74
$
1.53
$
1.17
$
1.04
$
.92
Common Stock Statistics
Weighted average common shares
outstanding - diluted (000's)
182,902
181,392
179,490
176,117
168,690
160,295
Dividends per common share
$
.5600
$
.5234
$
.4934
$
.4667
$
.4400
$
.4177
Book value per common share
$
13.80
$
11.88
$
10.43
$
9.39
$
8.44
$
7.71
Market price per common share (year end)
$
27.61
$
25.64
$
21.83
$
17.79
$
15.87
$
11.47
Market price ratios:
Dividend payout
24%
30%
32%
40%
43%
45%
Yield
2.1%
2.1%
2.3%
2.7%
2.9%
3.7%
Price/earnings ratio
11.7x
14.7x
14.3x
15.2x
15.4x
12.5x
Market value as a percent of book value
200.1%
215.8%
209.2%
189.4%
188.1%
148.8%
Profitability Indicators
Return on average common equity
18.5%
15.6%
15.7%
13.2%
13.0%
12.5%
Return on average invested capital
13.1%
10.6%
10.8%
9.4%
8.9%
8.6%
Fixed charges coverage, including preferred dividends
6.4x
6.4x
6.6x
4.8x
4.6x
4.9x
General
Total assets (000's)
$5,592,434
$ 4,903,474
$4,423,562
$3,733,521
$3,380,592
$2,996,921
Total debt (000's)
$ 1,310,163
$1,254,582
$ 1,206,510
$ 945,487
$ 967,096
$ 861,741
Redeemable preferred stock (000's)
$
$
$
$
$
$
1,300
Capitalization ratios:
Common equity
66%
63%
61%
63%
59%
59%
Preferred stocks
1
1
1
Total debt
34
37
39
36
40
40
100%
100%
100%
100%
100%
100%
NOTES: ·Common stock share amounts reflect the Company's three-for-two common stock splits effected in July 2006 and October 2003.
·Cascade, a natural gas distribution business, was acquired on July 2, 2007. For further information, see Item 8 -- Note 2.
