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Short-Term and Long-Term Borrowings (Tables)

12 Months Ended

Dec. 31, 2024

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, 2024 and 2023:

			2024																		2023
(in thousands)			OTC						OTP						Total						OTC						OTP						Total
Short-Term Debt			$	—					$	69,615					$	69,615					$	—					$	81,422					$	81,422
Long-Term Debt			79,900						863,834						943,734						79,849						744,210						824,059
Total			$	79,900					$	933,449					$	1,013,349					$	79,849					$	825,632					$	905,481

The following is a summary of outstanding long-term debt by borrower as of December 31, 2024 and 2023: 

																								(in thousands)
Entity						Debt Instrument						Rate						Maturity						2024						2023
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 2024A Senior Unsecured Notes						5.48%						04/01/34						60,000						—
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
OTP						Series 2024B Senior Unsecured Notes						5.77%						04/01/54						60,000						—
Total																								947,000						827,000
Less:			Unamortized Long-Term Debt Issuance Costs																					3,266						2,941
Total Long-Term Debt Net of Unamortized Debt Issuance Costs																								$	943,734					$	824,059

Schedule of Line of Credit Facilities

The following is a summary of our lines of credit as of December 31, 2024 and 2023:

									2024																		2023
(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			220,000						69,615						8,772						141,613						79,446
Total			$	390,000					$	69,615					$	8,772					$	311,613					$	249,446

Schedule of Maturities of Long-Term Debt

Aggregate maturities of long-term debt obligations on December 31, 2024 for each of the next five years are as follows:

(in thousands)			2025						2026						2027						2028						2029
Debt Maturities			$	—					$	80,000					$	42,000					$	—					$	70,000

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