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Schedule 1 - Condensed Financial Information of Registrant (Tables) | 12 Months Ended
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Dec. 31, 2021
Condensed Financial Information Disclosure [Abstract] |
Condensed Balance Sheet | SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF REGISTRANT OTTER TAIL CORPORATION (PARENT COMPANY) CONDENSED BALANCE SHEETS
| December 31,
(in thousands) | 2021 |  | 2020
Assets |  |  |
Current Assets |  |  |
Cash and Cash Equivalents | $ | 3 |  |  | $ | — |
Accounts Receivable | 25 |  |  | 148 |
Accounts Receivable from Subsidiaries | 2,817 |  |  | 2,734 |
Interest Receivable from Subsidiaries | 117 |  |  | 117 |
Notes Receivable from Subsidiaries | 6,767 |  |  | — |
Other | 1,410 |  |  | 1,063 |
Total Current Assets | 11,139 |  |  | 4,062 |
Investments in Subsidiaries | 1,184,564 |  |  | 1,061,009 |
Notes Receivable from Subsidiaries | 78,900 |  |  | 79,069 |
Deferred Income Taxes | 29,619 |  |  | 28,793 |
Other Assets | 44,749 |  |  | 40,848 |
Total Assets | $ | 1,348,971 |  |  | $ | 1,213,781 |
Liabilities and Stockholders' Equity |  |  |
Current Liabilities |  |  |
Short-Term Debt | $ | 22,637 |  |  | $ | 65,166 |
Current Maturities of Long-Term Debt | — |  |  | 169 |
Accounts Payable to Subsidiaries | 181 |  |  | 7 |
Notes Payable to Subsidiaries | 190,204 |  |  | 134,352 |
Other | 14,526 |  |  | 12,931 |
Total Current Liabilities | 227,548 |  |  | 212,625 |
Other Noncurrent Liabilities | 50,900 |  |  | 50,495 |
Commitments and Contingencies |  |  |
Capitalization |  |  |
Long-Term Debt, Net of Current Maturities | 79,746 |  |  | 79,695 |
Common Stockholders' Equity | 990,777 |  |  | 870,966 |
Total Capitalization | 1,070,523 |  |  | 950,661 |
Total Liabilities and Stockholders' Equity | $ | 1,348,971 |  |  | $ | 1,213,781 |
Condensed Income Statement | OTTER TAIL CORPORATION (PARENT COMPANY) CONDENSED STATEMENTS OF INCOME
| Years Ended December 31,
(in thousands) | 2021 |  | 2020 |  | 2019
Income |  |  |  |  |
Equity Income in Earnings of Subsidiaries | $ | 188,375 |  |  | $ | 106,379 |  |  | $ | 93,731 |
Interest Income from Subsidiaries | 2,826 |  |  | 2,859 |  |  | 3,063 |
Other Income | 1,290 |  |  | 1,317 |  |  | 1,566 |
Total Income | 192,491 |  |  | 110,555 |  |  | 98,360 |
Expense |  |  |  |  |
Operating Expenses | 14,825 |  |  | 14,007 |  |  | 10,529 |
Interest Charges | 4,727 |  |  | 4,599 |  |  | 4,863 |
Interest Charges from Subsidiaries | 3 |  |  | 136 |  |  | 306 |
Nonservice Cost Components of Postretirement Benefits | 1,097 |  |  | 1,150 |  |  | 1,297 |
Total Expense | 20,652 |  |  | 19,892 |  |  | 16,995 |
Income Before Income Taxes | 171,839 |  |  | 90,663 |  |  | 81,365 |
Income Tax Benefit | 4,930 |  |  | 5,188 |  |  | 5,482 |
Net Income | $ | 176,769 |  |  | $ | 95,851 |  |  | $ | 86,847 |
Condensed Cash Flow Statement | OTTER TAIL CORPORATION (PARENT COMPANY) CONDENSED STATEMENTS OF CASH FLOWS
| Years Ended December 31,
(in thousands) | 2021 |  | 2020 |  | 2019
Cash Flows from Operating Activities |  |  |  |  |
Net Cash Provided by Operating Activities | $ | 60,695 |  |  | $ | 54,027 |  |  | $ | 52,263 |
Cash Flows from Investing Activities |  |  |  |  |
Investment in Subsidiaries | — |  |  | (150,000) |  |  | (34,990) |
Debt Repaid by Subsidiaries | 169 |  |  | 182 |  |  | 1,338 |
Cash Used in Investing Activities | (884) |  |  | (2,419) |  |  | (257) |
Net Cash Used in Investing Activities | (715) |  |  | (152,237) |  |  | (33,909) |
Cash Flows from Financing Activities |  |  |  |  |
Net (Repayments) Borrowings on Short-Term Debt | (42,529) |  |  | 59,166 |  |  | (3,215) |
Borrowings from Subsidiaries | 49,085 |  |  | 44,741 |  |  | 28,985 |
Proceeds from Issuance of Common Stock | 696 |  |  | 52,432 |  |  | 20,338 |
Payments for Shares Withheld for Employee Tax Obligations | (1,507) |  |  | (2,069) |  |  | (2,730) |
Payments for Retirement of Long-Term Debt | (169) |  |  | (182) |  |  | (172) |
Dividends Paid | (64,864) |  |  | (60,314) |  |  | (55,723) |
Other, net | (689) |  |  | (523) |  |  | (878) |
Net Cash Used in (Provided by) Financing Activities | (59,977) |  |  | 93,251 |  |  | (13,395) |
Net Change in Cash and Cash Equivalents | 3 |  |  | (4,959) |  |  | 4,959 |
Cash and Cash Equivalents at Beginning of Period | — |  |  | 4,959 |  |  | — |
Cash and Cash Equivalents at End of Period | $ | 3 |  |  | $ | — |  |  | $ | 4,959 |
Schedule of Related Party Transactions | Outstanding receivables from and payables to our subsidiaries as of December 31, 2021 and 2020 are as follows:
(in thousands) | Accounts Receivable |  | Interest Receivable |  | Current Notes Receivable |  | Long-Term Notes Receivable |  | Accounts Payable |  | Current Notes Payable
December 31, 2021 |  |  |  |  |  |  |  |  |  |  |
Otter Tail Power Company | $ | 2,503 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 7 |  |  | $ | — |
Northern Pipe Products, Inc. | — |  |  | 7 |  |  | — |  |  | 5,000 |  |  | 4 |  |  | 32,057 |
Vinyltech Corporation | 13 |  |  | 18 |  |  | — |  |  | 11,500 |  |  | — |  |  | 34,881 |
BTD Manufacturing, Inc. | — |  |  | 77 |  |  | 6,767 |  |  | 52,000 |  |  | 170 |  |  | — |
T.O. Plastics, Inc. | 20 |  |  | 15 |  |  | — |  |  | 10,400 |  |  | — |  |  | 5,995 |
Varistar Corporation | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 117,271 |
Otter Tail Assurance Limited | 281 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
| $ | 2,817 |  |  | $ | 117 |  |  | $ | 6,767 |  |  | $ | 78,900 |  |  | $ | 181 |  |  | $ | 190,204 |
December 31, 2020 |  |  |  |  |  |  |  |  |  |  |
Otter Tail Power Company | $ | 2,698 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 7 |  |  | $ | — |
Northern Pipe Products, Inc. | — |  |  | 8 |  |  | — |  |  | 5,169 |  |  | — |  |  | 9,103 |
Vinyltech Corporation | — |  |  | 17 |  |  | — |  |  | 11,500 |  |  | — |  |  | 18,004 |
BTD Manufacturing, Inc. | — |  |  | 77 |  |  | — |  |  | 52,000 |  |  | — |  |  | 30,344 |
T.O. Plastics, Inc. | — |  |  | 15 |  |  | — |  |  | 10,400 |  |  | — |  |  | 3,101 |
Varistar Corporation | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 73,800 |
Otter Tail Assurance Limited | 36 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
| $ | 2,734 |  |  | $ | 117 |  |  | $ | — |  |  | $ | 79,069 |  |  | $ | 7 |  |  | $ | 134,352 |
Cash Dividends Paid to Parent by Subsidiaries | Dividends paid to OTC (the Parent) from its subsidiaries were as follows:
(in thousands) | 2021 |  | 2020 |  | 2019
Cash Dividends Paid to Parent by Subsidiaries | $ | 64,790 |  |  | $ | 55,614 |  |  | $ | 55,660 |

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