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Select Balance Sheet Information | 9 Months Ended
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Sep. 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 September 30, 2025 and December 31, 2024 are as follows:
(in thousands) | September 30, 2025 |  | December 31, 2024
Receivables |  |  |
Trade | $ | 140,890 |  |  | $ | 112,169 |
Other | 10,593 |  |  | 13,799 |
Unbilled Receivables | 16,968 |  |  | 21,916 |
Total Receivables | 168,451 |  |  | 147,884 |
Less: Allowance for Credit Losses | 1,757 |  |  | 1,920 |
Receivables, net of allowance for credit losses | $ | 166,694 |  |  | $ | 145,964 |
The following is a summary of activity in the allowance for credit losses for the nine months ended September 30, 2025 and 2024:
(in thousands) | 2025 |  | 2024
Beginning Balance, January 1 | $ | 1,920 |  |  | $ | 2,522 |
Additions Charged to Expense | 1,134 |  |  | 904 |
Reductions for Amounts Written Off, Net of Recoveries | (1,297) |  |  | (1,476) |
Ending Balance, September 30 | $ | 1,757 |  |  | $ | 1,950 |
Inventories Inventories consist of the following as of September 30, 2025 and December 31, 2024:
(in thousands) | September 30, 2025 |  | December 31, 2024
Finished Goods | $ | 39,146 |  |  | $ | 43,345 |
Work in Process | 24,174 |  |  | 22,637 |
Raw Material, Fuel and Supplies | 92,445 |  |  | 82,903 |
Total Inventories | $ | 155,765 |  |  | $ | 148,885 |
Investments The following is a summary of our investments as of September 30, 2025 and December 31, 2024:
(in thousands) | September 30, 2025 |  | December 31, 2024
Short-term Investments |  |  |
Government Debt Securities | $ | 53,482 |  |  | $ | 753 |
Corporate Debt Securities | 395 |  |  | — |
Total Short-term Investments | 53,877 |  |  | 753 |
Long-term Investments |  |  |
Corporate-Owned Life Insurance Policies | 50,027 |  |  | 47,895 |
Government Debt Securities | 9,022 |  |  | 60,378 |
Corporate Debt Securities | 895 |  |  | 1,628 |
Mutual Funds | 16,454 |  |  | 10,653 |
Money Market Funds | 1,237 |  |  | 596 |
Other Investments | 27 |  |  | 27 |
Total Long-term Investments | 77,662 |  |  | 121,177 |
Total Investments | $ | 131,539 |  |  | $ | 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 September 30, 2025 and December 31, 2024:
| September 30, 2025
(in thousands) | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized (Losses) |  | Fair Value
Government Debt Securities | $ | 61,967 |  |  | $ | 586 |  |  | $ | (49) |  |  | $ | 62,504 |
Corporate Debt Securities | 1,280 |  |  | 12 |  |  | (2) |  |  | 1,290 |
Total | $ | 63,247 |  |  | $ | 598 |  |  | $ | (51) |  |  | $ | 63,794 |
| 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 |
As of September 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 September 30, 2025:
(in thousands) | September 30, 2025
Due in one year or less | $ | 53,877 |
Due in one to five years | 9,917 |
Total | $ | 63,794 |
Equity Securities. The amount of net unrealized gains and losses during the nine months ended September 30, 2025 and 2024 on marketable equity securities still held as of September 30, 2025 and 2024 was not material. Property, Plant and Equipment Major classes of property, plant and equipment as of September 30, 2025 and December 31, 2024 include:
(in thousands) | September 30, 2025 |  | December 31, 2024
Electric Plant |  |  |
Electric Plant in Service | $ | 3,234,585 |  |  | $ | 3,180,943 |
Construction Work in Progress | 334,457 |  |  | 231,890 |
Total Gross Electric Plant | 3,569,042 |  |  | 3,412,833 |
Less Accumulated Depreciation and Amortization | 921,038 |  |  | 899,049 |
Net Electric Plant | 2,648,004 |  |  | 2,513,784 |
Nonelectric Property, Plant and Equipment |  |  |
Nonelectric Property, Plant and Equipment in Service | 401,193 |  |  | 362,565 |
Construction Work in Progress | 12,223 |  |  | 40,536 |
Total Gross Nonelectric Property, Plant and Equipment | 413,416 |  |  | 403,101 |
Less Accumulated Depreciation and Amortization | 240,731 |  |  | 224,425 |
Net Nonelectric Property, Plant and Equipment | 172,685 |  |  | 178,676 |
Net Property, Plant and Equipment | $ | 2,820,689 |  |  | $ | 2,692,460 |

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- Definition The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 210 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/210/tableOfContent + Details
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