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Debt
 3 Months Ended
Mar. 31, 2023
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 March 31, 2023. 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.
Short-term debt
Cascade On January 20, 2023, Cascade entered into a $150.0 million term loan agreement with a SOFR-based interest rate and a maturity date of January 19, 2024. The agreement contains customary covenants and provisions, including a covenant of Cascade not to permit, at any time, the ratio of total debt to total capitalization to be greater than 65 percent. The covenants also include certain restrictions on the sale of certain assets, loans and investments.
Intermountain On January 20, 2023, Intermountain entered into a $125.0 million term loan agreement with a SOFR-based interest rate and a maturity date of January 19, 2024. In March 2023, Intermountain paid down $20.0 million of the outstanding balance. The agreement contains customary covenants and provisions, including a covenant of Intermountain not to permit, at any time, the ratio of total debt to total capitalization to be greater than 65 percent. The covenants also include certain restrictions on the sale of certain assets, loans and investments.
Centennial On March 18, 2022, Centennial entered into a $100.0 million term loan agreement with a SOFR-based variable interest rate and a maturity date of March 17, 2023. On March 17, 2023, Centennial amended this agreement to extend the maturity date to September 15, 2023. The agreement contains customary covenants and provisions, including a covenant of Centennial not to permit, at any time, the ratio of total debt to total capitalization to be greater than 65 percent. The covenants also include certain restrictions on the sale of certain assets, loans and investments.
Long-term debt
Long-term Debt Outstanding Long-term debt outstanding was as follows:
 
Weighted
Average
Interest
Rate at
March 31, 2023
March 31, 2023March 31, 2022December 31, 2022
 (In thousands)
Senior Notes due on dates ranging from May 15, 2023 to June 15, 2062
4.32 %$2,258,500 $2,275,000 $2,258,500 
Commercial paper supported by revolving credit agreements6.18 %462,600 348,500 415,500 
Medium-Term Notes due on dates ranging from September 15, 2027 to March 16, 2029
7.32 %35,000 35,000 35,000 
Credit agreements due on dates ranging from December 19, 2024 to November 30, 20278.04 %89,144 85,800 130,000 
Term Loan Agreement due on September 3, 20323.64 %7,000 7,700 7,000 
Other notes due on dates ranging from January 1, 2024 to January 1, 2061
1.43 %1,561 2,445 2,253 
Less unamortized debt issuance costs6,453 6,605 6,542 
Less discount284 77 286 
Total long-term debt2,847,068 2,747,763 2,841,425 
Less current maturities78,031 147,953 78,031 
Net long-term debt$2,769,037 $2,599,810 $2,763,394 
Schedule of Debt Maturities Long-term debt maturities, which excludes unamortized debt issuance costs and discount, at March 31, 2023, were as follows:
Remainder of
2023
2024202520262027Thereafter
(In thousands)
Long-term debt maturities$78,031 $601,846 $177,802 $140,802 $111,452 $1,743,872