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Select Balance Sheet Information | 9 Months Ended
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Sep. 30, 2024
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 September 30, 2024 and December 31, 2023 are as follows:
(in thousands) | September 30, 2024 |  | December 31, 2023
Receivables |  |  |
Trade | $ | 160,476 |  |  | $ | 129,257 |
Other | 8,862 |  |  | 9,084 |
Unbilled Receivables | 18,885 |  |  | 21,324 |
Total Receivables | 188,223 |  |  | 159,665 |
Less: Allowance for Credit Losses | 1,950 |  |  | 2,522 |
Receivables, net of allowance for credit losses | $ | 186,273 |  |  | $ | 157,143 |
The following is a summary of activity in the allowance for credit losses for the nine months ended September 30, 2024 and 2023:
(in thousands) | 2024 |  | 2023
Beginning Balance, January 1 | $ | 2,522 |  |  | $ | 1,648 |
Additions Charged to Expense | 904 |  |  | 1,176 |
Reductions for Amounts Written Off, Net of Recoveries | (1,476) |  |  | (837) |
Ending Balance, September 30 | $ | 1,950 |  |  | $ | 1,987 |
Inventories Inventories consist of the following as of September 30, 2024 and December 31, 2023:
(in thousands) | September 30, 2024 |  | December 31, 2023
Raw Material, Fuel and Supplies | $ | 83,668 |  |  | $ | 75,733 |
Work in Process | 24,904 |  |  | 26,354 |
Finished Goods | 44,661 |  |  | 47,614 |
Total Inventories | $ | 153,233 |  |  | $ | 149,701 |
Investments The following is a summary of our investments as of September 30, 2024 and December 31, 2023:
(in thousands) | September 30, 2024 |  | December 31, 2023
Short-term Investments |  |  |
Government Debt Securities | $ | 616 |  |  | $ | — |
Total Short-term Investments | 616 |  |  | — |
Long-term Investments |  |  |
Corporate-Owned Life Insurance Policies | 46,585 |  |  | 42,287 |
Government Debt Securities | 60,776 |  |  | 7,724 |
Corporate Debt Securities | 1,644 |  |  | 1,579 |
Money Market Funds | 1,118 |  |  | 3,125 |
Mutual Funds | 11,271 |  |  | 7,771 |
Other Investments | 27 |  |  | 30 |
Total Long-term Investments | 121,421 |  |  | 62,516 |
Total Investments | $ | 122,037 |  |  | $ | 62,516 |
In April 2024, we made a $50.1 million investment in U.S. treasuries which mature in September 2026. The following table summarizes the amortized cost and fair value of debt securities available-for-sale and the corresponding amounts of gross unrealized gains and losses as of September 30, 2024:
| September 30, 2024
(in thousands) | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized (Losses) |  | Fair Value
Government Debt Securities | $ | 60,399 |  |  | $ | 1,151 |  |  | $ | (158) |  |  | $ | 61,392 |
Corporate Debt Securities | 1,621 |  |  | 25 |  |  | (2) |  |  | 1,644 |
Total | $ | 62,020 |  |  | $ | 1,176 |  |  | $ | (160) |  |  | $ | 63,036 |
Unrealized gains and losses on available-for-sale debt securities as of December 31, 2023 were not material. As of September 30, 2024 and December 31, 2023, no unrealized losses on debt securities were deemed to be other-than-temporary. The amount of net unrealized gains and losses during the three and nine months ended September 30, 2024 on marketable equity securities still held as of September 30, 2024 was net gains of $0.6 million and $1.3 million. The amount of net unrealized gains and losses during the three and nine months ended September 30, 2023 on marketable equity securities still held as of September 30, 2023 was not material. Property, Plant and Equipment Major classes of property, plant and equipment as of September 30, 2024 and December 31, 2023 include:
(in thousands) | September 30, 2024 |  | December 31, 2023
Electric Plant |  |  |
Electric Plant in Service | $ | 3,087,286 |  |  | $ | 2,989,881 |
Construction Work in Progress | 231,429 |  |  | 137,212 |
Total Gross Electric Plant | 3,318,715 |  |  | 3,127,093 |
Less Accumulated Depreciation and Amortization | 885,075 |  |  | 851,148 |
Net Electric Plant | 2,433,640 |  |  | 2,275,945 |
Nonelectric Property, Plant and Equipment |  |  |
Nonelectric Property, Plant and Equipment in Service | 329,126 |  |  | 311,924 |
Construction Work in Progress | 62,581 |  |  | 38,062 |
Total Gross Nonelectric Property, Plant and Equipment | 391,707 |  |  | 349,986 |
Less Accumulated Depreciation and Amortization | 220,478 |  |  | 207,556 |
Net Nonelectric Property, Plant and Equipment | 171,229 |  |  | 142,430 |
Net Property, Plant and Equipment | $ | 2,604,869 |  |  | $ | 2,418,375 |

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