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LONG-TERM DEBT (Notes) | 12 Months Ended
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Dec. 31, 2023
Long-Term Debt, Unclassified [Abstract] |
Long-term Debt [Text Block] | LONG-TERM DEBT The table below presents a summary of our long-term debt outstanding for the periods indicated:
|  | Interest rate at December 31, 2023 | December 31, 2023 | December 31, 2022
|  |  | (Thousands of dollars)
Senior Notes due: |  |  |  |
February 2024 |  | 3.610% | $ | 300,000 |  | $ | 300,000 |
March 2024 |  | 1.100% | 473,000 |  | 473,000 |
April 2029 |  | 5.100% | 300,000 |  | — |
May 2030 |  | 2.000% | 300,000 |  | 300,000 |
September 2032 |  | 4.250% | 300,000 |  | 300,000 |
February 2044 |  | 4.658% | 600,000 |  | 600,000 |
November 2048 |  | 4.500% | 400,000 |  | 400,000 |
Total Senior Notes |  |  | 2,673,000 |  | 2,373,000 |
KGSS-I Securitized Utility Tariff Bonds |  | 5.486% | 315,284 |  | 336,000 |
Other |  | 8.000% | 1,238 |  | 1,250 |
Unamortized discounts on long-term debt |  |  | (7,615) |  | (7,636) |
Debt issuance costs (a) |  |  | (21,092) |  | (20,143) |
Total long-term debt, net |  |  | 2,960,815 |  | 2,682,471 |
Less: current maturities of securitized utility tariff bonds, net |  |  | 27,430 |  | 20,716 |
Less: current maturities of other long-term debt, net |  |  | 772,984 |  | 12 |
Noncurrent portion of long-term debt, net |  |  | $ | 2,160,401 |  | $ | 2,661,743 |
(a) Includes issuance costs for the KGSS-I Securitized Utility Tariff Bonds of $5.3 million and $5.9 million, respectively. Senior Notes - In December 2023, we issued $300 million of 5.10 percent senior notes due April 2029. The proceeds from the issuance were used to repay amounts outstanding under our commercial paper program and for general corporate purposes. In August 2022, we issued $300 million of 4.25 percent senior notes due September 2032. The proceeds from the issuance were used to repay amounts outstanding under our commercial paper program and for general corporate purposes. In August 2022, we called $750 million of the $1.0 billion of 0.85 percent senior notes due March 2023, $150 million of the $700 million of 1.10 percent senior notes due March 2024 and the remaining $400 million of outstanding floating-rate senior notes due March 2023, using the proceeds received from the Oklahoma government in our securitization transaction for Oklahoma Natural Gas. In November 2022, we called the remaining $250 million of the $1.0 billion of 0.85 percent senior notes due March 2023 and $77 million of the $700 million of 1.10 percent senior notes due March 2024, using the proceeds from the securitization transaction for Kansas Gas Service. The indenture governing our Senior Notes includes an event of default upon the acceleration of other indebtedness of $100 million or more. Such events of default would entitle the trustee or the holders of 25 percent in aggregate principal amount of the outstanding Senior Notes to declare those Senior Notes immediately due and payable in full. Depending on the series, we may redeem our Senior Notes at par, plus accrued and unpaid interest to the redemption date, starting three months or six months before their maturity dates. Prior to these dates, we may redeem these Senior Notes, in whole or in part, at a redemption price equal to the principal amount, plus accrued and unpaid interest and a make-whole premium. The redemption price will never be less than 100 percent of the principal amount of the respective Senior Note plus accrued and unpaid interest to the redemption date. The remaining $473 million of outstanding principal of our 1.10 percent senior notes due March 2024 can be called at par with a 30-day notice. Senior Notes are senior unsecured obligations, ranking equally in right of payment with all of our existing and future unsecured senior indebtedness. Securitized Utility Tariff Bonds - On November 18, 2022, KGSS-I issued $336 million of 5.486 percent Securitized Utility Tariff Bonds. The Securitized Utility Tariff Bonds have a term of 10 years with semi-annual principal repayments that began on August 1, 2023, and an expected weighted average life of 5.5 years. The bonds are governed by an indenture between KGSS-I and the indenture trustee. The indenture contains certain covenants that restrict KGSS-I’s ability to sell, transfer, convey, exchange, or otherwise dispose of its assets. See Notes 3 and 17 for additional discussion of the securitization transactions. The KGSS-I Securitized Utility Tariff Bonds are governed by an indenture between KGSS-I and the indenture trustee. The indenture contains certain covenants that restrict KGSS-I’s ability to sell, transfer, convey, exchange, or otherwise dispose of its assets. See Note 17 for additional discussion of the Kansas securitization transaction.

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