XML 33 R21.htm IDEA: XBRL DOCUMENT v3.21.2

Debt

9 Months Ended

Sep. 30, 2021

Debt Disclosure [Abstract]

Debt

Debt

Certain debt instruments of the Company's subsidiaries contain restrictive and financial covenants and cross-default provisions. In order to borrow under the debt agreements, the subsidiary companies must be in compliance with the applicable covenants and certain other conditions, all of which the subsidiaries, as applicable, were in compliance with at September 30, 2021. In the event the subsidiaries do not comply with the applicable covenants and other conditions, alternative sources of funding may need to be pursued.

Montana-Dakota's and Centennial's respective commercial paper programs are supported by revolving credit agreements. While the amount of commercial paper outstanding does not reduce available capacity under the respective revolving credit agreements, Montana-Dakota and Centennial do not issue commercial paper in an aggregate amount exceeding the available capacity under the credit agreements. The commercial paper borrowings may vary during the period, largely the result of fluctuations in working capital requirements due to the seasonality of certain operations of the Company's subsidiaries.

Long-term debt

Long-term Debt Outstanding Long-term debt outstanding was as follows:

			Weighted Average Interest Rate at September 30, 2021			September 30, 2021			September 30, 2020			December 31, 2020
						(In thousands)
Senior Notes due on dates ranging from October 22, 2022 to September 15, 2061			4.36		%	$	2,025,000		$	1,900,000		$	1,950,000
Commercial paper supported by revolving credit agreements			.35		%	168,800			214,150			125,600
Credit agreements due on June 7, 2024			2.54		%	94,300			91,000			95,900
Medium-Term Notes due on dates ranging from September 15, 2027 to March 16, 2029			7.32		%	35,000			35,000			35,000
Term Loan Agreement due on September 3, 2032			2.00		%	7,700			8,400			8,400
Other notes due on dates ranging from January 2, 2022 to January 1, 2061			.83		%	3,198			28,284			4,034
Less unamortized debt issuance costs						5,709			6,526			5,803
Less discount						23			18			1
Total long-term debt						2,328,266			2,270,290			2,213,130
Less current maturities						1,548			1,558			1,555
Net long-term debt						$	2,326,718		$	2,268,732		$	2,211,575

Schedule of Debt Maturities Long-term debt maturities, which excludes unamortized debt issuance costs and discount, at September 30, 2021, were as follows:

			Remainder of 2021			2022			2023			2024			2025			Thereafter
			(In thousands)
Long-term debt maturities			$	77		$	148,021		$	77,921		$	324,521		$	177,802		$	1,605,656

X

- References

No definition available.

+ Details

Name:	us-gaap_DebtDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-URI http://asc.fasb.org/topic&trid=2208564

+ Details

Name:	us-gaap_DebtDisclosureTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration