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Short-Term and Long-Term Borrowings (Tables)

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Schedule of Debt

The following is a summary of our outstanding short and long-term borrowings by borrower, Otter Tail Corporation (OTC) or Otter Tail Power Company (OTP), as of December 31, 2020 and 2019:

			2020																		2019
(in thousands)			OTC						OTP						Total						OTC						OTP						Total
Short-Term Debt			$	65,166					$	15,831					$	80,997					$	6,000					$	—					$	6,000
Current Maturities of Long-Term Debt			169						139,918						140,087						183						—						183
Long-Term Debt, net of current maturities			79,695						544,737						624,432						79,812						609,769						689,581
Total			$	145,030					$	700,486					$	845,516					$	85,995					$	609,769					$	695,764

The following is a summary of outstanding long-term debt by borrower as of December 31, 2020 and 2019: 

																								(in thousands)
Entity						Debt Instrument						Rate						Maturity						2020						2019
OTC						Guaranteed Senior Notes						3.55%						12/15/26						$	80,000					$	80,000
OTP						Series 2011A Senior Unsecured Notes						4.63%						12/01/21						140,000						140,000
OTP						Series 2007B Senior Unsecured Notes						6.15%						08/20/22						30,000						30,000
OTP						Series 2007C Senior Unsecured Notes						6.37%						08/02/27						42,000						42,000
OTP						Series 2013A Senior Unsecured Notes						4.68%						02/27/29						60,000						60,000
OTP						Series 2019A Senior Unsecured Notes						3.07%						10/10/29						10,000						10,000
OTP						Series 2020A Senior Unsecured Notes						3.22%						02/25/30						10,000						—
OTP						Series 2020B Senior Unsecured Notes						3.22%						08/20/30						40,000						—
OTP						Series 2007D Senior Unsecured Notes						6.47%						08/20/37						50,000						50,000
OTP						Series 2019B Senior Unsecured Notes						3.52%						10/10/39						26,000						26,000
OTP						Series 2020C Senior Unsecured Notes						3.62%						02/25/40						10,000						—
OTP						Series 2013B Senior Unsecured Notes						5.47%						02/27/44						90,000						90,000
OTP						Series 2018A Senior Unsecured Notes						4.07%						02/07/48						100,000						100,000
OTP						Series 2019C Senior Unsecured Notes						3.82%						10/10/49						64,000						64,000
OTP						Series 2020D Senior Unsecured Notes						3.92%						02/25/50						15,000						—
OTC						PACE Note						2.54%						03/18/21						169						351
Total																								$	767,169					$	692,351
Less:			Current Maturities Net of Unamortized Debt Issuance Costs																					140,087						183
			Unamortized Long-Term Debt Issuance Costs																					2,650						2,587
Total Long-Term Debt Net of Unamortized Debt Issuance Costs																								$	624,432					$	689,581

Schedule of Line of Credit Facilities

The following is a summary of our lines of credit as of December 31, 2020 and 2019:

									2020																		2019
(in thousands)			Line Limit						Amount Outstanding						Letters of Credit						Amount Available						Amount Available
OTC Credit Agreement			$	170,000					$	65,166					$	—					$	104,834					$	164,000
OTP Credit Agreement			170,000						15,831						14,101						140,068						154,524
Total			$	340,000					$	80,997					$	14,101					$	244,902					$	318,524

Schedule of Maturities of Long-term Debt

Aggregate maturities of long-term debt obligations at December 31, 2020 for each of the next five years are as follows:

(in thousands)			2021						2022						2023						2024						2025
Debt Maturities			$	140,169					$	30,000					$	—					$	—					$	—

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