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Short-Term Borrowings (Tables)

12 Months Ended

Dec. 31, 2021

Short-term Debt [Abstract]

Schedule of information regarding short-term borrowings

Information regarding the Company’s short-term borrowings for the years ended December 31, 2021 and 2020 is summarized below:

		(Millions of Dollars)
		2021				2020
Average Amount Outstanding		$	23.7			$	28.3
Weighted Average Interest Rate			1.12	%			1.55	%
Notes Payable at Year-End		$	13.0			$	2.0
Weighted Average Interest Rate at Year-End			1.04	%			1.04	%

Schedule of Line of Credit

The Company maintained lines of credit aggregating $110.0 million and $140.0 million at December 31, 2021 and 2020, respectively.

			(Millions)
			As of December 31, 2021										Line of Credit
			Outstanding			Available			Maximum		Credit Type		Renewal Date
Bank of America		$	-		$	30.0		$	30.0		Uncommitted		January 26, 2023
PNC Bank			12.0			56.0			68.0		Committed		January 31, 2024
CoBank			1.0			11.0			12.0		Committed		November 30, 2023
		$	13.0		$	97.0		$	110.0

X

- Definition

Tabular disclosure of short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.19(b),22(b))
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

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- Definition

Tabular disclosure of short-term debt arrangements (having initial terms of repayment within one year or the normal operating cycle, if longer) including: (1) description of the short-term debt arrangement; (2) identification of the lender or type of lender; (3) repayment terms; (4) weighted average interest rate; (5) carrying amount of funds borrowed under the specified short-term debt arrangement as of the balance sheet date; (6) description of the refinancing of a short-term obligation when that obligation is excluded from current liabilities in the balance sheet; and (7) amount of a short-term obligation that has been excluded from current liabilities in the balance sheet because of a refinancing of the obligation.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.19)
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

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- References

No definition available.

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