XML 63 R41.htm IDEA: XBRL DOCUMENT v3.22.0.1

Short-Term and Long-Term Borrowings (Tables)

12 Months Ended

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

X

- References

No definition available.

+ Details

Name:	us-gaap_DebtDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation.

+ References

No definition available.

+ Details

Name:	us-gaap_ScheduleOfDebtTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_ScheduleOfLineOfCreditFacilitiesTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of maturity and sinking fund requirement for long-term debt.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=123465755&loc=d3e1835-112601

+ Details

Name:	us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration