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Select Balance Sheet Information
 6 Months Ended
Jun. 30, 2025
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, 2025 and December 31, 2024 are as follows:
(in thousands)June 30,
2025		December 31,
2024
Receivables
Trade$152,430 $112,169 
Other12,705 13,799 
Unbilled Receivables18,045 21,916 
Total Receivables183,180 147,884 
Less: Allowance for Credit Losses2,357 1,920 
Receivables, net of allowance for credit losses$180,823 $145,964 
The following is a summary of activity in the allowance for credit losses for the six months ended June 30, 2025 and 2024:
Six Months Ended June 30,
(in thousands)20252024
Beginning Balance, January 1$1,920 $2,522 
Additions Charged to Expense880 471 
Reductions for Amounts Written Off, Net of Recoveries(443)(967)
Ending Balance, June 30
$2,357 $2,026 
Inventories
Inventories consist of the following as of June 30, 2025 and December 31, 2024:
(in thousands)June 30,
2025		December 31,
2024
Raw Material, Fuel and Supplies$39,693 $43,345 
Work in Process22,012 22,637 
Finished Goods89,853 82,903 
Total Inventories$151,558 $148,885 
Investments
The following is a summary of our investments as of June 30, 2025 and December 31, 2024:
(in thousands)June 30,
2025		December 31,
2024
Short-term Investments
Government Debt Securities
$275 $753 
Long-term Investments
Corporate-Owned Life Insurance Policies48,225 47,895 
Government Debt Securities
61,643 60,378 
Corporate Debt Securities
1,684 1,628 
Mutual Funds15,338 10,653 
Money Market Funds1,372 596 
Other Investments27 27 
Total Long-term Investments
128,289 121,177 
Total Investments$128,564 $121,930 
Debt Securities. 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 June 30, 2025 and December 31, 2024:
June 30, 2025
(in thousands)
Amortized Cost
Gross Unrealized Gains
Gross Unrealized (Losses)
Fair Value
Government Debt Securities$61,408 $589 $(79)$61,918 
Corporate Debt Securities1,672 17 (5)1,684 
Total
$63,080 $606 $(84)$63,602 
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 Securities1,629 9 (10)1,628 
Total
$62,520 $433 $(194)$62,759 
As of June 30, 2025 and December 31, 2024, no unrealized losses on debt securities were deemed to be other-than-temporary.
The following table summarizes the fair value of available-for-sale debt securities by contractual maturity date as of June 30, 2025:
(in thousands)June 30, 2025
Due in one year or less
$275 
Due in one to five years
63,327 
Total$63,602 
Equity Securities. The amount of net unrealized gains and losses during the six months ended June 30, 2025 and 2024 on marketable equity securities still held as of June 30, 2025 and 2024 was not material.
Property, Plant and Equipment
Major classes of property, plant and equipment as of June 30, 2025 and December 31, 2024 include:
(in thousands)June 30,
2025		December 31,
2024
Electric Plant  
Electric Plant in Service$3,223,451 $3,180,943 
Construction Work in Progress273,266 231,890 
Total Gross Electric Plant3,496,717 3,412,833 
Less Accumulated Depreciation and Amortization917,960 899,049 
Net Electric Plant2,578,757 2,513,784 
Nonelectric Property, Plant and Equipment
Nonelectric Property, Plant and Equipment in Service397,895 362,565 
Construction Work in Progress12,343 40,536 
Total Gross Nonelectric Property, Plant and Equipment410,238 403,101 
Less Accumulated Depreciation and Amortization234,927 224,425 
Net Nonelectric Property, Plant and Equipment175,311 178,676 
Net Property, Plant and Equipment$2,754,068 $2,692,460