XML 81 R17.htm IDEA: XBRL DOCUMENT
v3.19.3.a.u2

Note 7 - Retained Earnings and Dividend Restriction | 12 Months Ended
--- | ---
Dec. 31, 2019
Notes to Financial Statements |
Retained Earnings Restrictions [Text Block] | 7. Retained Earnings and Dividend Restriction The Company is a holding company with no significant operations of its own. The primary source of funds for payments of dividends to the Company’s shareholders is from dividends paid or distributions made by the Company’s subsidiaries. As a result of certain statutory limitations or regulatory or financing agreements, restrictions could occur on the amount of distributions allowed to be made by the Company’s subsidiaries. Both the Company and OTP credit agreements contain restrictions on the payment of cash dividends upon a default or event of default. An event of default would be considered to have occurred if the Company did not meet certain financial covenants. As of December 31, 2019, the Company was in compliance with these financial covenants. Under the Federal Power Act, a public utility may not pay dividends from any funds properly included in a capital account. What constitutes “funds properly included in a capital account” is undefined in the Federal Power Act or the related regulations; however, the FERC has consistently interpreted the provision to allow dividends to be paid as long as (1) the source of the dividends is clearly disclosed, (2) the dividend is not excessive and (3) there is no self-dealing on the part of corporate officials. The MPUC indirectly limits the amount of dividends OTP can pay to the Company by requiring an equity-to-total-capitalization ratio between 46.0% and 56.2% based on OTP’s 2019 capital structure petition effective by order of the MPUC on July 19, 2019. As of December 31, 2019, OTP’s equity-to-total-capitalization ratio including short-term debt was 51.2% and its net assets restricted from distribution totaled approximately $519 million. Under the 2019 capital structure petition, total capitalization for OTP cannot exceed $1,331,302,000.

X
- Definition This includes disclosures relating to restrictions on the payment of dividends as prescribed by the Articles of Incorporation and by the Federal Energy Regulatory Commission. + References No definition available. + Details
Name: | ottr_RetainedEarningsRestrictionsTextBlock
Namespace Prefix: | ottr_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureTextBlockAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration