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Short-Term and Long-Term Borrowings
 3 Months Ended
Mar. 31, 2023
Debt Disclosure [Abstract]  
Short-Term and Long-Term Borrowings Short-Term and Long-Term Borrowings
The following is a summary of our outstanding short- and long-term borrowings by borrower, OTC or Otter Tail Power Company (OTP), as of March 31, 2023 and December 31, 2022:
Short-Term Debt
The following is a summary of our lines of credit as of March 31, 2023 and December 31, 2022:
March 31, 2023December 31,
2022
(in thousands)Borrowing LimitAmount OutstandingLetters
of Credit		Amount AvailableAmount Available
OTC Credit Agreement$170,000 $— $— $170,000 $170,000 
OTP Credit Agreement170,000 60,854 9,573 99,573 152,223 
Total$340,000 $60,854 $9,573 $269,573 $322,223 
Long-Term Debt
The following is a summary of outstanding long-term debt by borrower as of March 31, 2023 and December 31, 2022: 
(in thousands)
BorrowerDebt InstrumentRateMaturityMarch 31,
2023		December 31,
2022
OTCGuaranteed Senior Notes3.55%12/15/26$80,000 $80,000 
OTPSeries 2007C Senior Unsecured Notes6.37%08/02/2742,000 42,000 
OTPSeries 2013A Senior Unsecured Notes4.68%02/27/2960,000 60,000 
OTPSeries 2019A Senior Unsecured Notes3.07%10/10/2910,000 10,000 
OTPSeries 2020A Senior Unsecured Notes3.22%02/25/3010,000 10,000 
OTPSeries 2020B Senior Unsecured Notes3.22%08/20/3040,000 40,000 
OTPSeries 2021A Senior Unsecured Notes2.74%11/29/3140,000 40,000 
OTPSeries 2007D Senior Unsecured Notes6.47%08/20/3750,000 50,000 
OTPSeries 2019B Senior Unsecured Notes3.52%10/10/3926,000 26,000 
OTPSeries 2020C Senior Unsecured Notes3.62%02/25/4010,000 10,000 
OTPSeries 2013B Senior Unsecured Notes5.47%02/27/4490,000 90,000 
OTPSeries 2018A Senior Unsecured Notes4.07%02/07/48100,000 100,000 
OTPSeries 2019C Senior Unsecured Notes3.82%10/10/4964,000 64,000 
OTPSeries 2020D Senior Unsecured Notes3.92%02/25/5015,000 15,000 
OTPSeries 2021B Senior Unsecured Notes3.69%11/29/51100,000 100,000 
OTPSeries 2022A Senior Unsecured Notes3.77%05/20/5290,000 90,000 
Total$827,000 $827,000 
Less:Unamortized Long-Term Debt Issuance Costs3,118 3,179 
Total Long-Term Debt, Net of Unamortized Debt Issuance Costs$823,882 $823,821 
Financial Covenants
Certain of OTC's and OTP's short- and long-term debt agreements require the borrower, whether OTC or OTP, to maintain certain financial covenants, including a maximum debt to total capitalization ratio of 0.60 to 1.00, a minimum interest and dividend coverage ratio of 1.50 to 1.00, and a maximum level of priority indebtedness. As of March 31, 2023, OTC and OTP were in compliance with these financial covenants.