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Short-Term and Long-Term Borrowings (Tables)

12 Months Ended

Dec. 31, 2023

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, 2023 and 2022:

			2023																		2022
(in thousands)			OTC						OTP						Total						OTC						OTP						Total
Short-Term Debt			$	—					$	81,422					$	81,422					$	—					$	8,204					$	8,204
Current Maturities of Long-Term Debt			—						—						—						—						—						—
Long-Term Debt, net of current maturities			79,849						744,210						824,059						79,798						744,023						823,821
Total			$	79,849					$	825,632					$	905,481					$	79,798					$	752,227					$	832,025

The following is a summary of outstanding long-term debt by borrower as of December 31, 2023 and 2022: 

																								(in thousands)
Entity						Debt Instrument						Rate						Maturity						2023						2022
OTC						Guaranteed Senior Notes						3.55%						12/15/26						$	80,000					$	80,000
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						90,000
Total																								827,000						827,000
Less:			Unamortized Long-Term Debt Issuance Costs																					2,941						3,179
Total Long-Term Debt Net of Unamortized Debt Issuance Costs																								$	824,059					$	823,821

Schedule of Line of Credit Facilities

The following is a summary of our lines of credit as of December 31, 2023 and 2022:

									2023																		2022
(in thousands)			Line Limit						Amount Outstanding						Letters of Credit						Amount Available						Amount Available
OTC Credit Agreement			$	170,000					$	—					$	—					$	170,000					$	170,000
OTP Credit Agreement			170,000						81,422						9,132						79,446						152,223
Total			$	340,000					$	81,422					$	9,132					$	249,446					$	322,223

Schedule of Maturities of Long-Term Debt

Aggregate maturities of long-term debt obligations at December 31, 2023 for each of the next five years are as follows:

(in thousands)			2024						2025						2026						2027						2028
Debt Maturities			$	—					$	—					$	80,000					$	42,000					$	—

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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.

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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.

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-Name Accounting Standards Codification
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-SubTopic 10
-Section S99
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Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-SubTopic 10
-Topic 470
-Publisher FASB
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