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Debt and Credit Facilities (Tables)
 12 Months Ended
Dec. 31, 2020
Debt Disclosure [Abstract]  
Schedule of Short-term Debt
We had the following Notes payable outstanding at the Consolidated Balance Sheets date (in thousands):
December 31, 2020December 31, 2019
Balance Outstanding
Letters of Credit (a)
Balance Outstanding
Letters of Credit (a)
Revolving Credit Facility$— $24,730 $— $30,274 
CP Program234,040 — 349,500 — 
Total$234,040 $24,730 $349,500 $30,274 
_______________
(a)    Letters of credit are off-balance sheet commitments that reduce the borrowing capacity available on our corporate Revolving Credit Facility.
Schedule of Long-term Debt Instruments
Long-term debt outstanding was as follows (dollars in thousands):
Interest Rate atBalance Outstanding
Due DateDecember 31, 2020December 31, 2020December 31, 2019
Corporate
Senior unsecured notes due 2023November 30, 20234.25%$525,000 $525,000 
Senior unsecured notes due 2026January 15, 20263.95%300,000 300,000 
Senior unsecured notes due 2027January 15, 20273.15%400,000 400,000 
Senior unsecured notes, due 2029October 15, 20293.05%400,000 400,000 
Senior unsecured notes, due 2030June 15, 20302.50%400,000 — 
Senior unsecured notes due 2033May 1, 20334.35%400,000 400,000 
Senior unsecured notes, due 2046September 15, 20464.20%300,000 300,000 
Senior unsecured notes, due 2049October 15, 20493.88%300,000 300,000 
Corporate term loan due 2021June 7, 20212.32%1,436 7,178 
Total Corporate debt3,026,436 2,632,178 
Less unamortized debt discount(7,013)(6,462)
Total Corporate debt, net3,019,423 2,625,716 
South Dakota Electric
Series 94A Debt, variable rate (a)
June 1, 2024N/A— 2,855 
First Mortgage Bonds due 2032August 15, 20327.23%75,000 75,000 
First Mortgage Bonds due 2039November 1, 20396.13%180,000 180,000 
First Mortgage Bonds due 2044October 20, 20444.43%85,000 85,000 
Total South Dakota Electric debt340,000 342,855 
Less unamortized debt discount(78)(82)
Total South Dakota Electric debt, net339,922 342,773 
Wyoming Electric
Industrial development revenue bonds due 2021(a) (b)
September 1, 20210.12%7,000 7,000 
Industrial development revenue bonds due 2027(a) (b)
March 1, 20270.12%10,000 10,000 
First Mortgage Bonds due 2037November 20, 20376.67%110,000 110,000 
First Mortgage Bonds due 2044October 20, 20444.53%75,000 75,000 
Total Wyoming Electric debt202,000 202,000 
Less unamortized debt discount— — 
Total Wyoming Electric debt, net202,000 202,000 
Total long-term debt3,561,345 3,170,489 
Less current maturities8,436 5,743 
Less unamortized deferred financing costs (c)
24,809 24,650 
Long-term debt, net of current maturities and deferred financing costs$3,528,100 $3,140,096 
_______________
(a)    Variable interest rate.
(b)    A reimbursement agreement is in place with Wells Fargo on behalf of Wyoming Electric for the 2009A bonds of $10 million due March 1, 2027 and the 2009B bonds of $7.0 million due September 1, 2021. In the case of default, we hold the assumption of liability for drawings on Wyoming Electric’s Letter of Credit attached to these bonds.
(c)    Includes deferred financing costs associated with our Revolving Credit Facility of $1.0 million and $1.7 million as of December 31, 2020 and December 31, 2019, respectively.
Schedule of Maturities of Long-term Debt
Scheduled maturities of long-term debt, excluding amortization of premiums or discounts, for future years are (in thousands):
2021$8,436 
2022$— 
2023$525,000 
2024$— 
2025$— 
Thereafter$3,035,000 
Deferred Financing Costs
Our deferred financing costs and associated amortization expense included in Interest expense on the accompanying Consolidated Statements of Income were as follows (in thousands):
Deferred Financing Costs Remaining atAmortization Expense for the years ended December 31,
December 31, 2020202020192018
$24,809 $3,272 $3,242 $2,829 
Credit Facility and Short Term Debt Covenants
We were in compliance with our covenants at December 31, 2020 as shown below:

As of December 31, 2020Covenant Requirement
Consolidated Indebtedness to Capitalization Ratio59.9%Less than65%