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Select Balance Sheet Information
 6 Months Ended
Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Select Balance Sheet Information Select Balance Sheet Information
Receivables and Allowance for Credit Losses
Receivables as of June 30, 2023 and December 31, 2022 are as follows:
(in thousands)June 30,
2023		December 31,
2022
Receivables
Trade$166,267 $112,126 
Other11,183 9,983 
Unbilled Receivables19,715 23,932 
Total Receivables197,165 146,041 
Less: Allowance for Credit Losses2,214 1,648 
Receivables, net of allowance for credit losses$194,951 $144,393 
The following is a summary of activity in the allowance for credit losses for the six months ended June 30, 2023 and 2022:
(in thousands)20232022
Beginning Balance, January 1$1,648 $1,836 
Additions Charged to Expense1,001 382 
Reductions for Amounts Written Off, Net of Recoveries(435)(461)
Ending Balance, June 30$2,214 $1,757 
Inventories
Inventories consist of the following as of June 30, 2023 and December 31, 2022:
(in thousands)June 30,
2023		December 31,
2022
Raw Material, Fuel and Supplies$73,314 $70,374 
Work in Process29,326 31,766 
Finished Goods41,801 43,812 
Total Inventories$144,441 $145,952 
Investments
The following is a summary of our investments as of June 30, 2023 and December 31, 2022:
(in thousands)June 30,
2023		December 31,
2022
Corporate-Owned Life Insurance Policies$39,352 $38,991 
Corporate and Government Debt Securities8,926 8,761 
Money Market Funds4,069 1,560 
Mutual Funds7,505 5,503 
Other Investments30 30 
Total Investments$59,882 $54,845 
The amount of unrealized gains and losses on debt securities as of June 30, 2023 and December 31, 2022 was not material and no unrealized losses were deemed to be other-than-temporary. In addition, the amount of unrealized gains and losses on marketable equity securities still held as of June 30, 2023 and December 31, 2022 was not material.
Property, Plant and Equipment
Major classes of property, plant and equipment as of June 30, 2023 and December 31, 2022 include:
(in thousands)June 30,
2023		December 31,
2022
Electric Plant  
Electric Plant in Service$2,933,603 $2,844,379 
Construction Work in Progress141,249 113,932 
Total Gross Electric Plant3,074,852 2,958,311 
Less Accumulated Depreciation and Amortization888,374 859,988 
Net Electric Plant2,186,478 2,098,323 
Nonelectric Property, Plant and Equipment
Nonelectric Property, Plant and Equipment in Service297,908 293,928 
Construction Work in Progress34,147 15,170 
Total Gross Nonelectric Property, Plant and Equipment332,055 309,098 
Less Accumulated Depreciation and Amortization202,287 194,704 
Net Nonelectric Property, Plant and Equipment129,768 114,394 
Net Property, Plant and Equipment$2,316,246 $2,212,717 
On January 3, 2023, we purchased the Ashtabula III wind farm, located in eastern North Dakota, which consists of 39 wind turbines and the related infrastructure, adding 62.4 megawatts of nameplate capacity to our owned generation assets. The total purchase price of the acquisition was $50.6 million. In addition to the acquired assets, we also recognized a $3.3 million asset retirement obligation liability associated with the wind farm and became party to the land easement agreements with the landowners of the wind farm.