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Short-Term and Long-Term Borrowings (Tables) | 12 Months Ended
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Dec. 31, 2021
Debt Disclosure [Abstract] |
Schedule of Debt | The following is a summary of our outstanding short- and long-term borrowings by borrower, OTC or OTP, as of December 31, 2021 and 2020:
| 2021 |  | 2020
(in thousands) | OTC |  | OTP |  | Total |  | OTC |  | OTP |  | Total
Short-Term Debt | $ | 22,637 |  |  | $ | 68,526 |  |  | $ | 91,163 |  |  | $ | 65,166 |  |  | $ | 15,831 |  |  | $ | 80,997 |
Current Maturities of Long-Term Debt | — |  |  | 29,983 |  |  | 29,983 |  |  | 169 |  |  | 139,918 |  |  | 140,087 |
Long-Term Debt, net of current maturities | 79,746 |  |  | 654,268 |  |  | 734,014 |  |  | 79,695 |  |  | 544,737 |  |  | 624,432 |
Total | $ | 102,383 |  |  | $ | 752,777 |  |  | $ | 855,160 |  |  | $ | 145,030 |  |  | $ | 700,486 |  |  | $ | 845,516 |
The following is a summary of outstanding long-term debt by borrower as of December 31, 2021 and 2020:
|  |  |  |  |  |  |  | (in thousands)
Entity |  | Debt Instrument |  | Rate |  | Maturity |  | 2021 |  | 2020
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 |
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 |  |  | 10,000 |
OTP |  | Series 2020B Senior Unsecured Notes |  | 3.22% |  | 08/20/30 |  | 40,000 |  |  | 40,000 |
OTP |  | Series 2021A Senior Unsecured Notes |  | 2.74% |  | 11/29/31 |  | 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 |  |  | 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 |  |  | 15,000 |
OTP |  | Series 2021B Senior Unsecured Notes |  | 3.69% |  | 11/29/51 |  | 100,000 |  |  | — |
OTC |  | PACE Note |  | 2.54% |  | 03/18/21 |  | — |  |  | 169 |
Total |  |  |  |  |  |  |  | $ | 767,000 |  |  | $ | 767,169 |
Less: | Current Maturities Net of Unamortized Debt Issuance Costs |  |  |  |  |  | 29,983 |  |  | 140,087 |
| Unamortized Long-Term Debt Issuance Costs |  |  |  |  |  | 3,003 |  |  | 2,650 |
Total Long-Term Debt Net of Unamortized Debt Issuance Costs |  |  |  | $ | 734,014 |  |  | $ | 624,432 |
Schedule of Line of Credit Facilities | The following is a summary of our lines of credit as of December 31, 2021 and 2020:
|  |  | 2021 |  | 2020
(in thousands) | Line Limit |  | Amount Outstanding |  | Letters of Credit |  | Amount Available |  | Amount Available
OTC Credit Agreement | $ | 170,000 |  |  | $ | 22,637 |  |  | $ | — |  |  | $ | 147,363 |  |  | $ | 104,834 |
OTP Credit Agreement | 170,000 |  |  | 68,526 |  |  | 13,159 |  |  | 88,315 |  |  | 140,068 |
Total | $ | 340,000 |  |  | $ | 91,163 |  |  | $ | 13,159 |  |  | $ | 235,678 |  |  | $ | 244,902 |
Schedule of Maturities of Long-Term Debt | Aggregate maturities of long-term debt obligations at December 31, 2021 for each of the next five years are as follows:
(in thousands) | 2022 |  | 2023 |  | 2024 |  | 2025 |  | 2026
Debt Maturities | $ | 30,000 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 80,000 |

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- Definition Tabular disclosure of short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b),22(b)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
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