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Segment Information
 12 Months Ended
Dec. 31, 2020
Segment Reporting [Abstract]  
Segment Information Segment Information
We classify our business into three segments, Electric, Manufacturing and Plastics, consistent with our business strategy, organizational structure and our internal reporting and review processes used by our chief operating decision maker to make decisions regarding allocation of resources, to assess operating performance and to make strategic decisions.
Electric includes the production, transmission, distribution and sale of electric energy in Minnesota, North Dakota and South Dakota by OTP. In addition, OTP is a participant in the Midcontinent Independent System Operator, Inc. (MISO) markets. OTP’s operations have been our primary business since 1907.
Manufacturing consists of businesses in the following manufacturing activities: contract machining, metal parts stamping, fabrication and painting, and production of plastic thermoformed horticultural containers, life science and industrial packaging, and material handling components. These businesses have manufacturing facilities in Georgia, Illinois and Minnesota and sell products primarily in the United States.
Plastics consists of businesses producing PVC pipe at plants in North Dakota and Arizona. The PVC pipe is sold primarily in the western half of the United States and Canada.
Certain assets and costs are not allocated to our operating segments. Corporate operating costs include items such as corporate staff and overhead costs, the results of our captive insurance company and other items excluded from the measurement of operating segment performance.
Corporate assets consist primarily of cash, prepaid expenses, investments and fixed assets. Corporate is not an operating segment, rather it is added to operating segment totals to reconcile to consolidated amounts.
Information for each segment and our unallocated corporate costs for the years ended December 31, 2020, 2019 and 2018 are as follows:
(in thousands)202020192018
Operating Revenue1
Electric$446,088 $459,048 $450,198 
Manufacturing238,770 277,204 268,409 
Plastics205,249 183,251 197,840 
Total$890,107 $919,503 $916,447 
Depreciation and Amortization
Electric$63,171 $60,044 $55,935 
Manufacturing14,933 14,261 14,794 
Plastics3,604 3,451 3,719 
Corporate329 330 218 
Total$82,037 $78,086 $74,666 
Operating Income (Loss)
Electric$107,083 $98,417 $88,031 
Manufacturing16,103 17,869 18,266 
Plastics37,823 28,439 32,917 
Corporate(13,123)(9,845)(9,825)
Total$147,886 $134,880 $129,389 
Interest Charges
Electric$29,848 $26,548 $26,365 
Manufacturing2,215 2,345 2,230 
Plastics644 718 609 
Corporate1,740 1,800 1,204 
Total$34,447 $31,411 $30,408 
Income Tax Expense (Benefit)
Electric$12,480 $12,867 $5,685 
Manufacturing2,939 2,784 3,393 
Plastics9,718 7,309 8,728 
Corporate(4,931)(5,519)(3,218)
Total$20,206 $17,441 $14,588 
Net Income (Loss)
Electric$66,778 $59,046 $54,431 
Manufacturing11,048 12,899 12,839 
Plastics27,582 20,572 23,819 
Corporate(9,557)(5,670)(8,744)
Total$95,851 $86,847 $82,345 
Capital Expenditures
Electric$356,581 $187,362 $87,287 
Manufacturing10,587 14,268 13,316 
Plastics4,322 5,452 4,199 
Corporate63 283 623 
Total$371,553 $207,365 $105,425 
1Amounts reflect operating revenues to external customers. Intersegment operating revenues are not material for any period presented.
The following provides the identifiable assets by segment and corporate assets as of December 31, 2020 and 2019:
(in thousands)20202019
Identifiable Assets
Electric$2,233,399 $1,931,525 
Manufacturing191,005 195,742 
Plastics99,767 92,049 
Corporate54,183 54,279 
Total$2,578,354 $2,273,595 
Entity-Wide Information
No single customer accounted for over 10% of our consolidated operating revenues for the years ended December 31, 2020, 2019 and 2018. All of our long-lived assets are located within the United States and substantially all of our operating revenues are to customers located within the United States.