v3.26.1
Select Balance Sheet Information (Tables)
 3 Months Ended
Mar. 31, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Receivables
Receivables as of March 31, 2026 and December 31, 2025 are as follows:
(in thousands)March 31,
2026		December 31,
2025
Receivables
Trade$151,143 $110,180 
Other10,015 12,094 
Unbilled Receivables23,795 24,868 
Total Receivables184,953 147,142 
Less: Allowance for Credit Losses1,738 1,646 
Receivables, net of allowance for credit losses$183,215 $145,496 
Schedule of Activity in Allowance for Credit Losses
The following is a summary of activity in the allowance for credit losses for the three months ended March 31, 2026 and 2025:
(in thousands)20262025
Beginning Balance, January 1$1,646 $1,920 
Additions Charged to Expense349 475 
Reductions for Amounts Written Off, Net of Recoveries(257)(204)
Ending Balance, March 31
$1,738 $2,191 
Schedule of Inventories
Inventories consist of the following as of March 31, 2026 and December 31, 2025:
(in thousands)March 31,
2026		December 31,
2025
Raw Material, Fuel and Supplies
$91,321 $90,720 
Work in Process26,771 25,381 
Finished Goods38,963 42,497 
Total Inventories$157,055 $158,598 
Schedule of Investments
The following is a summary of our investments as of March 31, 2026 and December 31, 2025:
(in thousands)March 31,
2026		December 31,
2025
Short-term Investments
Government Debt Securities
$54,490 $53,915 
Corporate Debt Securities
397 396 
Total Short-term Investments
54,887 54,311 
Long-term Investments
Corporate-Owned Life Insurance Policies48,222 49,258 
Government Debt Securities
9,033 9,221 
Corporate Debt Securities
870 924 
Mutual Funds18,845 16,727 
Money Market Funds1,687 2,666 
Other Investments27 27 
Total Long-term Investments
78,684 78,823 
Total Investments$133,571 $133,134 
Schedule of Amortized Costs and Fair Value of Debt Securities, Available-for-Sale 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 March 31, 2026 and December 31, 2025:
March 31, 2026
(in thousands)
Amortized Cost
Gross Unrealized Gains
Gross Unrealized (Losses)
Fair Value
Government Debt Securities$63,260 $279 $(16)$63,523 
Corporate Debt Securities1,263 8 (4)1,267 
Total Debt Securities
$64,523 $287 $(20)$64,790 
December 31, 2025
(in thousands)
Amortized Cost
Gross Unrealized Gains
Gross Unrealized (Losses)
Fair Value
Government Debt Securities$62,617 $527 $(8)$63,136 
Corporate Debt Securities1,309 12 (1)1,320 
Total Debt Securities
$63,926 $539 $(9)$64,456 
Schedule of Investments Classified by Contractual Maturity Date
The following table summarizes the fair value of available-for-sale debt securities by contractual maturity date as of March 31, 2026:
(in thousands)March 31, 2026
Due in one year or less
$54,887 
Due in one to five years
9,381 
Due in five to ten years
522 
Total Debt Securities
$64,790 
Schedule of Property, Plant and Equipment
Major classes of property, plant and equipment as of March 31, 2026 and December 31, 2025 include:
(in thousands)March 31,
2026		December 31,
2025
Electric Plant  
Electric Plant in Service$3,427,389 $3,370,677 
Construction Work in Progress350,944 233,978 
Total Gross Electric Plant3,778,333 3,604,655 
Less Accumulated Depreciation
886,444 899,401 
Net Electric Plant2,891,889 2,705,254 
Nonelectric Property, Plant and Equipment
Nonelectric Property, Plant and Equipment
405,371 404,922 
Construction Work in Progress16,885 12,389 
Total Gross Nonelectric Property, Plant and Equipment422,256 417,311 
Less Accumulated Depreciation
249,154 245,880 
Net Nonelectric Property, Plant and Equipment173,102 171,431 
Total Net Property, Plant and Equipment
$3,064,991 $2,876,685