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LONG-TERM DEBT (Tables) | 6 Months Ended
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Jun. 30, 2026
Long-Term Debt, Unclassified [Abstract] |
Schedule of Long-Term Debt Instruments | The table below presents a summary of our long-term debt outstanding for the periods indicated:
|  | June 30, | December 31, |
| Interest Rate | 2026 | 2025 |
|  | (Thousands of dollars) |
Senior Notes due: |  |  |  |
April 2029 | 5.100% | $ | 550,000 |  | $ | 550,000 |  |
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 |  | 2,150,000 |  | 2,150,000 |  |
Unsecured Term Loan (a) | 4.480% | 250,000 |  | 250,000 |  |
KGSS-I Securitized Utility Tariff Bonds | 5.486% | 242,496 |  | 257,852 |  |
Unamortized discounts, net of premiums, on long-term debt (b) |  | (3,939) |  | (3,830) |  |
Debt issuance costs (b) |  | (17,636) |  | (18,955) |  |
Other | 8.000% | 1,204 |  | 1,211 |  |
Total long-term debt, net |  | 2,622,125 |  | 2,636,278 |  |
Less: current maturities of KGSS-I securitized utility tariff bonds, net |  | 31,404 |  | 30,566 |  |
Less: current maturities of other long-term debt, net |  | 249,918 |  | 249,674 |  |
Noncurrent portion of long-term debt, net |  | $ | 2,340,803 |  | $ | 2,356,038 |  |
(a) Bears interest at a variable rate based on Term SOFR, initially set using the 6-month Term SOFR at closing. The interest rate resets at months six and twelve, each based on the prevailing 6-month Term SOFR and the 1-month Term SOFR, respectively. (b) Includes issuance costs and discounts for the KGSS-I Securitized Utility Tariff Bonds of $4.0 million and $4.3 million, at June 30, 2026 and December 31, 2025, respectively.

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