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Capitalization (Tables)
 12 Months Ended
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