XML 65 R41.htm IDEA: XBRL DOCUMENT v3.22.4

Short-Term and Long-Term Borrowings (Tables)

12 Months Ended

Dec. 31, 2022

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, 2022 and 2021:

			2022																		2021
(in thousands)			OTC						OTP						Total						OTC						OTP						Total
Short-Term Debt			$	—					$	8,204					$	8,204					$	22,637					$	68,526					$	91,163
Current Maturities of Long-Term Debt			—						—						—						—						29,983						29,983
Long-Term Debt, net of current maturities			79,798						744,023						823,821						79,746						654,268						734,014
Total			$	79,798					$	752,227					$	832,025					$	102,383					$	752,777					$	855,160

The following is a summary of outstanding long-term debt by borrower as of December 31, 2022 and 2021: 

																								(in thousands)
Entity						Debt Instrument						Rate						Maturity						2022						2021
OTC						Guaranteed Senior Notes						3.55%						12/15/26						$	80,000					$	80,000
OTP						Series 2007B Senior Unsecured Notes						6.15%						08/20/22						—						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						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						100,000
OTP						Series 2022A Senior Unsecured Notes						3.77%						05/20/52						90,000						—
Total																								827,000						767,000
Less:			Current Maturities Net of Unamortized Debt Issuance Costs																					—						29,983
			Unamortized Long-Term Debt Issuance Costs																					3,179						3,003
Total Long-Term Debt Net of Unamortized Debt Issuance Costs																								$	823,821					$	734,014

Schedule of Line of Credit Facilities

The following is a summary of our lines of credit as of December 31, 2022 and 2021:

									2022																		2021
(in thousands)			Line Limit						Amount Outstanding						Letters of Credit						Amount Available						Amount Available
OTC Credit Agreement			$	170,000					$	—					$	—					$	170,000					$	147,363
OTP Credit Agreement			170,000						8,204						9,573						152,223						88,315
Total			$	340,000					$	8,204					$	9,573					$	322,223					$	235,678

Schedule of Maturities of Long-Term Debt

Aggregate maturities of long-term debt obligations at December 31, 2022 for each of the next five years are as follows:

(in thousands)			2023						2024						2025						2026						2027
Debt Maturities			$	—					$	—					$	—					$	80,000					$	42,000

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 https://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 https://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