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Segment Information | 12 Months Ended
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Dec. 31, 2021
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, 2021, 2020 and 2019 are as follows:
(in thousands) | 2021 |  | 2020 |  | 2019
Operating Revenue 1 |  |  |  |  |
Electric | $ | 480,321 |  |  | $ | 446,088 |  |  | $ | 459,048 |
Manufacturing | 336,294 |  |  | 238,770 |  |  | 277,204 |
Plastics | 380,229 |  |  | 205,249 |  |  | 183,251 |
Total | $ | 1,196,844 |  |  | $ | 890,107 |  |  | $ | 919,503 |
Depreciation and Amortization |  |  |  |  |
Electric | $ | 71,343 |  |  | $ | 63,171 |  |  | $ | 60,044 |
Manufacturing | 15,436 |  |  | 14,933 |  |  | 14,261 |
Plastics | 4,354 |  |  | 3,604 |  |  | 3,451 |
Corporate | 225 |  |  | 329 |  |  | 330 |
Total | $ | 91,358 |  |  | $ | 82,037 |  |  | $ | 78,086 |
Operating Income (Loss) |  |  |  |  |
Electric | $ | 106,964 |  |  | $ | 107,083 |  |  | $ | 98,417 |
Manufacturing | 24,114 |  |  | 16,103 |  |  | 17,869 |
Plastics | 132,760 |  |  | 37,823 |  |  | 28,439 |
Corporate | (14,130) |  |  | (13,123) |  |  | (9,845) |
Total | $ | 249,708 |  |  | $ | 147,886 |  |  | $ | 134,880 |
Interest Charges |  |  |  |  |
Electric | $ | 33,043 |  |  | $ | 29,848 |  |  | $ | 26,548 |
Manufacturing | 2,239 |  |  | 2,215 |  |  | 2,345 |
Plastics | 587 |  |  | 644 |  |  | 718 |
Corporate | 1,902 |  |  | 1,740 |  |  | 1,800 |
Total | $ | 37,771 |  |  | $ | 34,447 |  |  | $ | 31,411 |
Income Tax Expense (Benefit) |  |  |  |  |
Electric | $ | 1,663 |  |  | $ | 12,480 |  |  | $ | 12,867 |
Manufacturing | 4,704 |  |  | 2,939 |  |  | 2,784 |
Plastics | 34,374 |  |  | 9,718 |  |  | 7,309 |
Corporate | (4,689) |  |  | (4,931) |  |  | (5,519) |
Total | $ | 36,052 |  |  | $ | 20,206 |  |  | $ | 17,441 |
Net Income (Loss) |  |  |  |  |
Electric | $ | 72,458 |  |  | $ | 66,778 |  |  | $ | 59,046 |
Manufacturing | 17,186 |  |  | 11,048 |  |  | 12,899 |
Plastics | 97,823 |  |  | 27,582 |  |  | 20,572 |
Corporate | (10,698) |  |  | (9,557) |  |  | (5,670) |
Total | $ | 176,769 |  |  | $ | 95,851 |  |  | $ | 86,847 |
Capital Expenditures |  |  |  |  |
Electric | $ | 140,031 |  |  | $ | 356,581 |  |  | $ | 187,362 |
Manufacturing | 20,690 |  |  | 10,587 |  |  | 14,268 |
Plastics | 11,040 |  |  | 4,322 |  |  | 5,452 |
Corporate | 68 |  |  | 63 |  |  | 283 |
Total | $ | 171,829 |  |  | $ | 371,553 |  |  | $ | 207,365 |
1 Amounts 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, 2021 and 2020:
(in thousands) | 2021 |  | 2020
Identifiable Assets |  |  |
Electric | $ | 2,283,776 |  |  | $ | 2,233,399 |
Manufacturing | 251,044 |  |  | 191,005 |
Plastics | 162,565 |  |  | 99,767 |
Corporate | 57,445 |  |  | 54,183 |
Total | $ | 2,754,830 |  |  | $ | 2,578,354 |
Concentrations Our Plastics segment businesses use PVC resin as a critical component within their PVC pipe manufacturing process. There are a limited number of PVC resin suppliers in the U.S., and in 2021, we sourced all of our PVC resin needs from two vendors. Although there are a limited number of PVC resin suppliers, we believe that other suppliers could provide PVC resin on comparable terms. Additionally, most U.S. resin production plants are located in the Gulf Coast region. These plants are subject to the risk of damage and production shutdowns because of exposure to hurricanes or other extreme weather events that occur in this region. The loss of a key vendor, or any interruption or delay in the supply of PVC resin could cause production delays, a possible loss of sales, or result in increased costs to secure resin, all of which would adversely affect our operating results. Entity-Wide Information No single customer accounted for over 10% of our consolidated operating revenues for the years ended December 31, 2021, 2020 and 2019. 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.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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