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Capitalization (Tables) | 12 Months Ended
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Dec. 31, 2024
Capitalization [Abstract] |
Schedule of Long-Term Debt | The aggregate annual principal repayment obligations as of December 31, 2024 for all long-term debt over the next five years and thereafter are shown below:
Year |  | (In Millions) Annual Maturities
2025 |  | $ | 7.7 |
2026 |  |  | 7.5 |
2027 |  |  | 7.3 |
2028 |  |  | 7.0 |
2029 |  |  | 6.5 |
Thereafter |  |  | 323.4 |
Schedule of Basic and Diluted Earnings Per Share | The following table presents the calculation of basic and diluted earnings per share (EPS) of common stock for the years ended December 31, 2024, 2023 and 2022. 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)
|  | 2024 |  | 2023 |  | 2022 |  |
Basic: |  | Income |  | Shares |  | Income |  | Shares |  | Income |  | Shares
Net Income |  | $ | 44,351 |  |  |  | 17,842 |  |  | $ | 31,524 |  |  |  | 17,732 |  |  | $ | 42,429 |  |  |  | 17,597 |
Preferred Dividend |  |  | (112 | ) |  |  |  |  |  |  | (120 | ) |  |  |  |  |  |  | (120 | ) |  |  |  |
Earnings Applicable to Common Stock |  | $ | 44,239 |  |  |  | 17,842 |  |  | $ | 31,404 |  |  |  | 17,732 |  |  | $ | 42,309 |  |  |  | 17,597 |
Basic EPS |  | $ | 2.48 |  |  |  |  |  |  | $ | 1.77 |  |  |  |  |  |  | $ | 2.40 |  |  |  |  |
Diluted: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Earnings Applicable to Common Stock |  | $ | 44,239 |  |  |  | 17,842 |  |  | $ | 31,404 |  |  |  | 17,732 |  |  | $ | 42,309 |  |  |  | 17,597 |
Convertible Preferred $7.00 Series Dividend |  |  | 46 |  |  |  | 104 |  |  |  | 67 |  |  |  | 115 |  |  |  | 67 |  |  |  | 115 |
Adjusted Earnings Applicable to Common Stock |  | $ | 44,285 |  |  |  | 17,946 |  |  | $ | 31,471 |  |  |  | 17,847 |  |  | $ | 42,376 |  |  |  | 17,712 |
Diluted EPS |  | $ | 2.47 |  |  |  |  |  |  | $ | 1.76 |  |  |  |  |  |  | $ | 2.39 |  |  |  |  |
Schedule of Carrying Amount and Fair Value of the Bonds | The carrying amount and fair value of the Bonds were as follows:
|  | (In Thousands)
|  | At December 31,
|  | 2024 |  | 2023
|  | Carrying |  | Fair |  | Carrying |  | Fair
|  | Amount |  | Value |  | Amount |  | Value
FMBs |  | $ | 129,602 |  |  | $ | 125,067 |  |  | $ | 133,374 |  |  | $ | 131,745 |

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