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Note 14 - Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2019
Notes Tables |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] |
(in thousands) |  | 2019 |  |  | 2018 |  |  | 2017 |
Tax Computed at Federal Statutory Rate |  | $ | 21,901 |  |  | $ | 20,356 |  |  | $ | 34,893 |
Increases (Decreases) in Tax from: |  |  |  |  |  |  |  |  |  |  |  |
State Income Taxes Net of Federal Income Tax Expense |  |  | 3,561 |  |  |  | 5,210 |  |  |  | 4,368 |
Differences Reversing in Excess of Federal Rates |  |  | (3,357 | ) |  |  | (3,432 | ) |  |  | 551 |
Permanent Differences, R&D Tax Credits, Unitary Tax and Other Adjustments |  |  | (1,315 | ) |  |  | (1,864 | ) |  |  | (1,873 | )
North Dakota Wind Tax Credit Amortization – Net of Federal Taxes |  |  | (1,033 | ) |  |  | (1,033 | ) |  |  | (850 | )
Corporate-owned Life Insurance |  |  | (749 | ) |  |  | (3 | ) |  |  | (845 | )
Excess Tax deduction – Equity Method Stock Awards |  |  | (744 | ) |  |  | (708 | ) |  |  | (751 | )
Allowance for Funds Used During Construction – Equity |  |  | (501 | ) |  |  | (431 | ) |  |  | (322 | )
Employee Stock Ownership Plan Dividend Deduction |  |  | (281 | ) |  |  | (298 | ) |  |  | (509 | )
Investment Tax Credit Amortization |  |  | (41 | ) |  |  | (98 | ) |  |  | (164 | )
Federal Production Tax Credits (PTCs) |  |  | - |  |  |  | (3,111 | ) |  |  | (7,527 | )
Section 199 Domestic Production Activities Deduction |  |  | - |  |  |  | - |  |  |  | (1,471 | )
Effect of TCJA Tax Rate Reduction on Value of Net Deferred Tax Assets |  |  | - |  |  |  | - |  |  |  | 1,756 |
Income Tax Expense |  | $ | 17,441 |  |  | $ | 14,588 |  |  | $ | 27,256 |
Overall Effective Federal and State Income Tax Rate |  |  | 16.7 | % |  |  | 15.0 | % |  |  | 27.3 | %
Income Tax Expense Includes the Following: |  |  |  |  |  |  |  |  |  |  |  |
Current Federal Income Taxes |  | $ | 5,156 |  |  | $ | 4,960 |  |  | $ | 4,434 |
Current State Income Taxes |  |  | 1,333 |  |  |  | 1,395 |  |  |  | 1,128 |
Deferred Federal Income Taxes |  |  | 8,859 |  |  |  | 8,065 |  |  |  | 25,648 |
Deferred State Income Taxes |  |  | 3,167 |  |  |  | 4,410 |  |  |  | 4,587 |
Federal PTCs |  |  | - |  |  |  | (3,111 | ) |  |  | (7,527 | )
North Dakota Wind Tax Credit Amortization – Net of Federal Taxes |  |  | (1,033 | ) |  |  | (1,033 | ) |  |  | (850 | )
Investment Tax Credit Amortization |  |  | (41 | ) |  |  | (98 | ) |  |  | (164 | )
Total |  | $ | 17,441 |  |  | $ | 14,588 |  |  | $ | 27,256 |
Total Income Before Income Taxes |  | $ | 104,288 |  |  | $ | 96,933 |  |  | $ | 99,695 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] |
(in thousands) |  | 2019 |  |  | 2018 |
Deferred Tax Assets |  |  |  |  |  |  |  |
Benefit Liabilities |  | $ | 36,246 |  |  | $ | 33,967 |
Retirement Benefits Liabilities |  |  | 36,206 |  |  |  | 32,664 |
Regulatory Tax Liability |  |  | 35,700 |  |  |  | 33,228 |
North Dakota Wind Tax Credits |  |  | 31,611 |  |  |  | 32,570 |
Cost of Removal |  |  | 25,604 |  |  |  | 21,787 |
Federal PTCs |  |  | 20,017 |  |  |  | 32,101 |
Differences Related to Property |  |  | 6,979 |  |  |  | 6,842 |
Lease Liability |  |  | 5,733 |  |  |  | - |
Vacation Accrual |  |  | 1,884 |  |  |  | 1,919 |
Net Operating Loss Carryforward |  |  | 1,860 |  |  |  | 2,489 |
Investment Tax Credits |  |  | 408 |  |  |  | 449 |
Other |  |  | 344 |  |  |  | 3,218 |
Valuation Allowance |  |  | (800 | ) |  |  | (600 | )
Total Deferred Tax Assets |  | $ | 201,792 |  |  | $ | 200,634 |
Deferred Tax Liabilities |  |  |  |  |  |  |  |
Differences Related to Property |  | $ | (268,495 | ) |  | $ | (261,396 | )
Retirement Benefits Regulatory Asset |  |  | (36,206 | ) |  |  | (32,664 | )
Excess Tax over Book Pension |  |  | (17,556 | ) |  |  | (15,145 | )
Right of Use Asset |  |  | (5,705 | ) |  |  | - |
North Dakota Wind Tax Credits |  |  | (3,126 | ) |  |  | (4,386 | )
Impact of State Net Operating Losses on Federal Taxes |  |  | (385 | ) |  |  | (523 | )
Other |  |  | (2,260 | ) |  |  | (7,496 | )
Total Deferred Tax Liabilities |  | $ | (333,733 | ) |  | $ | (321,610 | )
Deferred Income Taxes |  | $ | (131,941 | ) |  | $ | (120,976 | )
Schedule of Expiration of Operating Loss Carryforwards and Tax Credit Carryforwards [Table Text Block] |
(in thousands) |  | Amount |  |  | 2022-2032 |  |  | 2033-2038 |  |  | 2039-2043 |
United States |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Federal Tax Credits |  | $ | 23,002 |  |  | $ | - |  |  | $ | 22,220 |  |  | $ | 782 |
State Net Operating Losses |  |  | 1,860 |  |  |  | 1,833 |  |  |  | 27 |  |  |  | - |
State Tax Credits |  |  | 32,177 |  |  |  | - |  |  |  | 2,643 |  |  |  | 29,534 |
Summary of Income Tax Contingencies [Table Text Block] |
(in thousands) |  | 2019 |  |  | 2018 |  |  | 2017 |
Balance on January 1 |  | $ | 1,282 |  |  | $ | 684 |  |  | $ | 891 |
Increases Related to Tax Positions for Prior Years |  |  | 37 |  |  |  | 6 |  |  |  | 28 |
Decreases Related to Tax Positions for Prior Years |  |  | - |  |  |  | - |  |  |  | (172 | )
Increases Related to Tax Positions for Current Year |  |  | 339 |  |  |  | 778 |  |  |  | 143 |
Uncertain Positions Resolved During Year |  |  | (170 | ) |  |  | (186 | ) |  |  | (206 | )
Balance on December 31 |  | $ | 1,488 |  |  | $ | 1,282 |  |  | $ | 684 |

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