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Capitalization (Tables) | 12 Months Ended
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Dec. 31, 2022
Capitalization [Abstract] |
Schedule of long-term debt | The aggregate annual principal repayment obligations for all long-term debt over the next five years and thereafter are shown below:
Year |  | (Millions of Dollars) Annual Maturities |
2023 |  | $ | 17.5 |
2024 |  | $ | 7.4 |
2025 |  | $ | 6.9 |
2026 |  | $ | 6.7 |
2027 |  | $ | 6.4 |
Thereafter |  | $ | 261.5 |
Schedule of basic and diluted earnings per share | The following table presents the calculation of basic and diluted earnings per share (EPS) for the years ended December 31, 2022, 2021 and 2020. Basic EPS is computed on the basis of the weighted average number of shares outstanding. Diluted EPS assumes the conversion of the Convertible Preferred Stock $7.00 Series.
|  | (In Thousands, Except Per Share Amounts) |
|  | 2022 |  |  | 2021 |  |  | 2020 |  |  |  |
Basic: |  | Income |  |  | Shares |  |  | Income |  |  | Shares |  |  | Income |  |  | Shares |
Net Income |  | $ | 42,429 |  |  |  | 17,597 |  |  | $ | 36,543 |  |  |  | 17,492 |  |  | $ | 38,425 |  |  |  | 17,459 |
Preferred Dividend |  |  | (120 | ) |  |  |  |  |  |  | (120 | ) |  |  |  |  |  |  | (120 | ) |  |  |  |
Earnings Applicable to Common Stock |  | $ | 42,309 |  |  |  | 17,597 |  |  | $ | 36,423 |  |  |  | 17,492 |  |  | $ | 38,305 |  |  |  | 17,459 |
Basic EPS |  | $ | 2.40 |  |  |  |  |  |  | $ | 2.08 |  |  |  |  |  |  | $ | 2.19 |  |  |  |  |
Diluted: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Earnings Applicable to Common Stock |  | $ | 42,309 |  |  |  | 17,597 |  |  | $ | 36,423 |  |  |  | 17,492 |  |  | $ | 38,305 |  |  |  | 17,459 |
$7.00 Series Dividend |  |  | 67 |  |  |  | 115 |  |  |  | 67 |  |  |  | 115 |  |  |  | 67 |  |  |  | 115 |
Adjusted Earnings Applicable to Common Stock |  | $ | 42,376 |  |  |  | 17,712 |  |  | $ | 36,490 |  |  |  | 17,607 |  |  | $ | 38,372 |  |  |  | 17,574 |
Diluted EPS |  | $ | 2.39 |  |  |  |  |  |  | $ | 2.07 |  |  |  |  |  |  | $ | 2.18 |  |  |  |  |
Schedule of carrying amount and fair value of the bonds | The carrying amount and fair value of the Bonds were as follows:
|  | (Thousands of Dollars) |
|  | At December 31, |
|  | 2022 |  |  | 2021 |
|  | Carrying |  |  | Fair |  |  | Carrying |  |  | Fair |
|  | Amount |  |  | Value |  |  | Amount |  |  | Value |
FMBs |  | $ | 147,269 |  |  | $ | 138,756 |  |  | $ | 98,828 |  |  | $ | 107,781 |

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