Bristol Bay Native Corporation report prints an asset column $132.7 million above its own lines

A balance sheet column in Bristol Bay Native Corporation's fall shareholder report is printed with a total $132.7 million larger than the lines above it.

The asset column for March 31, 2026, in the Fall 2026 Bay Report lists total current assets of $711,975,000 and eight non-current lines. Those figures sum to $1,723,475,000. The total printed at the foot of the column is $1,856,156,000, a difference of $132,681,000. The statements are unaudited.

Goodwill, the value a company carries on its books for businesses it bought above the worth of their separate assets, is printed at March 31 as $46,485,000. At $179,166,000 the column balances. The corporation's earlier reports put goodwill at $199.9 million on March 31, 2025, $196.0 million three months later, and $180.3 million on Dec. 31, 2025. The same fall report gives $164.4 million at June 30, 2026.

Total liabilities of $848,371,000 plus shareholders' equity of $1,007,785,000 come to $1,856,156,000, the printed asset total, which points to an error in one asset line rather than in the total.

Every other asset column in this report and in last year's adds to its printed total exactly. The report discloses no acquisition, disposal or impairment in either quarter, and the words goodwill, acquisition and impairment do not appear in its narrative. Nothing in the report flags the discrepancy, and no comment on it appears in the corporation's published materials.

The report also shows revenue of $916,183,000 for the quarter ended June 30, up 11.7 percent, and net earnings attributable to the corporation of $11,225,000, the share left after minority partners in its subsidiaries take theirs, down 48.0 percent. Management attributes the decline to investment earnings, which dropped from $14,133,000 to $2,710,000 after a prior-year gain that "did not recur in the current quarter." FY2026 comparative results include reclassifications, rounding and immaterial adjustments made to conform with FY2027 presentation.

The audited figures for the fiscal year ended March 31, 2026, are in the annual report mailed with proxy materials, which is not posted on the corporation's website. The fall report gives Sept. 30 at 5 p.m. Alaska time as the deadline to be eligible for voting prizes; the summer issue says proxies are returned before the annual meeting, which is Oct. 3 at the Bristol Bay Borough School in Naknek.