| Revenue |
REVENUE The following tables disaggregate revenue by major source for the periods presented. The tables also include a reconciliation of the disaggregated revenue by reportable segments. For more information on Basin Electric’s business segments, see Note 14. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended
March 31, 2026 | | Electric Utility | | Gasification | | Coal and Limestone Operations | | Elimination of Intersegment | | Total | | (In thousands) | | Sales of electricity to members | $ | 600,778 | | | $ | — | | | $ | — | | | $ | — | | | $ | 600,778 | | | Sales of electricity to non-members | 68,804 | | | — | | | — | | | — | | | 68,804 | | | Synthetic natural gas | — | | | 42,056 | | | — | | | — | | | 42,056 | | | Fertilizer and DEF products | — | | | 55,900 | | | — | | | — | | | 55,900 | | | Other byproducts | — | | | 16,895 | | | — | | | — | | | 16,895 | | | Lignite coal | — | | | — | | | 79,062 | | | (30,966) | | | 48,096 | | | Miscellaneous | 2,007 | | | 344 | | | 7,065 | | | — | | | 9,416 | | | Revenue from contracts with customers | 671,589 | | | 115,195 | | | 86,127 | | | (30,966) | | | 841,945 | | | Other revenue | — | | | (742) | | | — | | | — | | | (742) | | Total operating revenue | $ | 671,589 | | | $ | 114,453 | | | $ | 86,127 | | | $ | (30,966) | | | $ | 841,203 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended
March 31, 2025 | | Electric Utility | | Gasification | | Coal and Limestone Operations | | Elimination of Intersegment | | Total | | (In thousands) | | Sales of electricity to members | $ | 555,678 | | | $ | — | | | $ | — | | | $ | — | | | $ | 555,678 | | | Sales of electricity to non-members | 59,317 | | | — | | | — | | | — | | | 59,317 | | | Synthetic natural gas | — | | | 39,888 | | | — | | | — | | | 39,888 | | | Fertilizer and DEF products | — | | | 51,411 | | | — | | | — | | | 51,411 | | | Other byproducts | — | | | 18,689 | | | — | | | — | | | 18,689 | | | Lignite coal | — | | | — | | | 70,974 | | | (28,604) | | | 42,370 | | | Miscellaneous | 2,577 | | | 329 | | | 6,853 | | | — | | | 9,759 | | | Revenue from contracts with customers | 617,572 | | | 110,317 | | | 77,827 | | | (28,604) | | | 777,112 | | | Other revenue | 861 | | | 639 | | | — | | | — | | | 1,500 | | Total operating revenue | $ | 618,433 | | | $ | 110,956 | | | $ | 77,827 | | | $ | (28,604) | | | $ | 778,612 | |
OTHER REVENUE–Other revenue includes derivative revenue from hedging activities for synthetic natural gas, tar oil, and electricity sales which is accounted for under ASC 815. CONTRACT BALANCES–At times, Basin Electric and its subsidiaries will receive payment in advance of performing an obligation under a contract. Unearned revenue, a contract liability, is recognized when this occurs. At March 31, 2026 and December 31, 2025, the unearned revenue balance (included in other current liabilities on the consolidated balance sheets) was $70.1 million and $7.6 million, respectively. There were no contract assets at March 31, 2026 and December 31, 2025. The balance in receivables, net on the consolidated balance sheets represent the unconditional right to consideration from customers.
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