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Financing | 3 Months Ended
--- | ---
Mar. 31, 2024
Debt Disclosure [Abstract] |
Financing | (5) Fin ancing Short-term Debt Revolving Credit Facility and CP Program Our Revolving Credit Facility and CP Program, which are classified as Notes payable on the Consolidated Balance Sheets, had the following borrowings, outstanding letters of credit, and available capacity (dollars in millions) as of:
| March 31, 2024 |  | December 31, 2023 |
Amount outstanding | $ | - |  | $ | - |
Letters of credit (a) | $ | 3.7 |  | $ | 3.7 |
Available capacity | $ | 746.3 |  | $ | 746.3 |
Weighted average interest rates | N/A |  | N/A |
(a) Letters of credit are off-balance sheet commitments that reduce the borrowing capacity available on our corporate Revolving Credit Facility. Revolving Credit Facility and CP Program borrowing activity was as follows (dollars in millions):
| Three Months Ended March 31, |
| 2024 |  | 2023 |
Maximum amount outstanding (based on daily outstanding balances) | $ | - |  | $ | 548.7 |
Average amount outstanding (based on daily outstanding balances) | $ | - |  | $ | 331.3 |
Weighted average interest rates | N/A |  |  | 4.91 | %
Financial Covenants Revolving Credit Facility We were in compliance with all of our Revolving Credit Facility covenants as of March 31, 2024. We are required to maintain a Consolidated Indebtedness to Capitalization Ratio not to exceed 0.65 to 1.00. Subject to applicable cure periods, a violation of this covenant would constitute an event of default that entitles the lenders to terminate their remaining commitments and accelerate all principal and interest outstanding. As of March 31, 2024, our Consolidated Indebtedness to Capitalization Ratio was 0.57 to 1.00. Wyoming Electric Wyoming Electric was in compliance with all covenants within its financing agreements as of March 31, 2024. Wyoming Electric is required to maintain a debt to capitalization ratio of no more than 0.60 to 1.00. As of March 31, 2024, Wyoming Electric's debt to capitalization ratio was 0.52 to 1.00. Equity At-the-Market Equity Offering Program ATM activity was as follows (in millions, except Average price per share amounts):
| Three Months Ended March 31, |
| 2024 |  | 2023 |
August 4, 2020 ATM Program |  |  |  |
Proceeds, (net of issuance costs of $0.0 and $(0.3), respectively) | $ | - |  | $ | 27.4 |
Number of shares issued |  | - |  |  | 0.4 |
June 16, 2023 ATM Program |  |  |  |
Proceeds, (net of issuance costs of $(0.3) and $0.0, respectively) | $ | 31.2 |  | $ | - |
Number of shares issued |  | 0.6 |  |  | - |
Total activity under both ATM Programs |  |  |  |
Proceeds, (net of issuance costs of $(0.3) and $(0.3), respectively) | $ | 31.2 |  | $ | 27.4 |
Number of shares issued |  | 0.6 |  |  | 0.4 |
Average price per share | $ | 52.51 |  | $ | 62.21 |
As of March 31, 2024, there were 47,596 shares issued under the ATM Program, but not settled.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Subparagraph (h) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(c)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 470 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//470/tableOfContent Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Subparagraph (g) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1C -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1C -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1C -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1E -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1I -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1I -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1I -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I + Details
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