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v3.25.1

Select Balance Sheet Information (Tables) | 3 Months Ended
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Mar. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Schedule of Receivables | Receivables as of March 31, 2025 and December 31, 2024 are as follows:
(in thousands) | March 31, 2025 |  | December 31, 2024
Receivables |  |  |
Trade | $ | 152,719 |  |  | $ | 112,169 |
Other | 11,553 |  |  | 13,799 |
Unbilled Receivables | 21,970 |  |  | 21,916 |
Total Receivables | 186,242 |  |  | 147,884 |
Less: Allowance for Credit Losses | 2,191 |  |  | 1,920 |
Receivables, net of allowance for credit losses | $ | 184,051 |  |  | $ | 145,964 |
Schedule of Activity in Allowance for Credit Losses | The following is a summary of activity in the allowance for credit losses for the three months ended March 31, 2025 and 2024:
| Three Months Ended March 31,
(in thousands) | 2025 |  | 2024
Beginning Balance, January 1 | $ | 1,920 |  |  | $ | 2,522 |
Additions Charged to Expense | 475 |  |  | 272 |
Reductions for Amounts Written Off, Net of Recoveries | (204) |  |  | (776) |
Ending Balance, March 31 | $ | 2,191 |  |  | $ | 2,018 |
Schedule of Inventories | Inventories consist of the following as of March 31, 2025 and December 31, 2024:
(in thousands) | March 31, 2025 |  | December 31, 2024
Raw Material, Fuel and Supplies | $ | 39,541 |  |  | $ | 43,345 |
Work in Process | 22,266 |  |  | 22,637 |
Finished Goods | 85,888 |  |  | 82,903 |
Total Inventories | $ | 147,695 |  |  | $ | 148,885 |
Schedule of Investments | The following is a summary of our investments as of March 31, 2025 and December 31, 2024:
(in thousands) | March 31, 2025 |  | December 31, 2024
Short-term Investments |  |  |
Government Debt Securities | $ | 274 |  |  | $ | 753 |
Long-term Investments |  |  |
Corporate-Owned Life Insurance Policies | 47,102 |  |  | 47,895 |
Government Debt Securities | 61,692 |  |  | 60,378 |
Corporate Debt Securities | 1,647 |  |  | 1,628 |
Money Market Funds | 468 |  |  | 596 |
Mutual Funds | 14,177 |  |  | 10,653 |
Other Investments | 27 |  |  | 27 |
Total Long-term Investments | 125,113 |  |  | 121,177 |
Total Investments | $ | 125,387 |  |  | $ | 121,930 |
Schedule of Amortized Costs and Fair Value of Debt Securities, Available-for-Sale | The following table summarizes the amortized cost and fair value of available-for-sale debt securities and the corresponding amounts of gross unrealized gains and losses as of March 31, 2025 and December 31, 2024:
| March 31, 2025
(in thousands) | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized (Losses) |  | Fair Value
Government Debt Securities | $ | 61,455 |  |  | $ | 637 |  |  | $ | (126) |  |  | $ | 61,966 |
Corporate Debt Securities | 1,637 |  |  | 15 |  |  | (5) |  |  | 1,647 |
Total | $ | 63,092 |  |  | $ | 652 |  |  | $ | (131) |  |  | $ | 63,613 |
| December 31, 2024
(in thousands) | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized (Losses) |  | Fair Value
Government Debt Securities | $ | 60,891 |  |  | $ | 424 |  |  | $ | (184) |  |  | $ | 61,131 |
Corporate Debt Securities | 1,629 |  |  | 9 |  |  | (10) |  |  | 1,628 |
Total | $ | 62,520 |  |  | $ | 433 |  |  | $ | (194) |  |  | $ | 62,759 |
Schedule of Investments Classified by Contractual Maturity Date | The following table summarizes the fair value of available-for-sale debt securities by contractual maturity date as of March 31, 2025:
(in thousands) | March 31, 2025
Due in one year or less | $ | 274 |
Due in one to five years | 63,339 |
Total | $ | 63,613 |
Schedule of Property, Plant and Equipment | Major classes of property, plant and equipment as of March 31, 2025 and December 31, 2024 include:
(in thousands) | March 31, 2025 |  | December 31, 2024
Electric Plant |  |  |
Electric Plant in Service | $ | 3,214,984 |  |  | $ | 3,180,943 |
Construction Work in Progress | 227,419 |  |  | 231,890 |
Total Gross Electric Plant | 3,442,403 |  |  | 3,412,833 |
Less Accumulated Depreciation and Amortization | 911,470 |  |  | 899,049 |
Net Electric Plant | 2,530,933 |  |  | 2,513,784 |
Nonelectric Property, Plant and Equipment |  |  |
Nonelectric Property, Plant and Equipment in Service | 392,580 |  |  | 362,565 |
Construction Work in Progress | 15,830 |  |  | 40,536 |
Total Gross Nonelectric Property, Plant and Equipment | 408,410 |  |  | 403,101 |
Less Accumulated Depreciation and Amortization | 230,032 |  |  | 224,425 |
Net Nonelectric Property, Plant and Equipment | 178,378 |  |  | 178,676 |
Net Property, Plant and Equipment | $ | 2,709,311 |  |  | $ | 2,692,460 |

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