| Schedule of Long-Term Debt Instruments |
Outstanding long-term debt was as follows at: | | | | | | | | | | | | | | | | | | | | | | | | | Due Date | | Weighted Average Interest Rate at March 31, 2026 | | March 31,
2026 | | December 31,
2025 | | | | | | (In thousands) | | Basin Electric Power Cooperative | | | | | | | | | First Mortgage Bonds | | | | | | | | | 2006 Series | June 2041 | | 6.13% | | $ | 200,000 | | | $ | 200,000 | | | 2017 Series | April 2047 | | 4.75% | | 500,000 | | | 500,000 | | | 2025 Series | Oct. 2055 | | 5.85% | | 700,000 | | | 700,000 | | | | | | | 1,400,000 | | | 1,400,000 | | | First Mortgage Obligations | | | | | | | | | 2005 Series | Dec. 2028-May 2030 | | 5.85% | | 90,000 | | | 90,000 | | | 2007 Series | Sep. 2042 | | 5.75% | | 214,711 | | | 216,854 | | | 2008 Series | Dec. 2028-Dec. 2038 | | 5.92% | | 413,389 | | | 413,389 | | | 2009 Series | Oct. 2027-April 2040 | | 5.47% | | 132,222 | | | 132,222 | | | 2011 Series | Oct. 2031-Oct. 2049 | | 4.53% | | 208,080 | | | 208,080 | | | 2012 Series | Nov. 2044 | | 4.07% | | 73,949 | | | 73,949 | | | 2015 Series | June 2027-June 2044 | | 4.50% | | 1,353,420 | | | 1,353,420 | | | 2016 CoBank Note | April 2046 | | 4.48% | | 66,667 | | | 68,333 | | | 2016 CFC Note | April 2046 | | 3.74% | | 50,420 | | | 51,050 | | | 2022 Series | Feb. 2042-Feb. 2062 | | 3.00% | | 276,810 | | | 276,810 | | | 2024 CoBank Note | Nov. 2034-May 2035 | | 6.14% | | 200,000 | | | 200,000 | | | 2024 Series | Feb. 2029-Feb. 2054 | | 6.22% | | 344,033 | | | 350,525 | | | 2007 and 2008 Notes | June 2027-Dec. 2028 | | 5.09% | | 4,750 | | | 4,750 | | | 2023 Note | Oct. 2043 | | 5.56% | | 72,000 | | | 72,000 | | | 2025 RUS Loan | June 2033 | | 4.33% | | 538 | | | 538 | | | | | | | 3,500,989 | | | 3,511,920 | | | | | | | | | | | Equipment Notes | Dec. 2035-Apr. 2036 | | 5.00% | | 21,446 | | | 21,617 | | | 2019 Tax-Exempt Bonds | July 2039 | | 3.63% | | 150,000 | | | 150,000 | | | | | | | 171,446 | | | 171,617 | | | Dakota Coal | | | | | | | | | Equipment notes | May 2026-July 2036 | | 4.92% | | 64,345 | | | 66,462 | | | Other | | | Various | | 12,583 | | | 11,806 | | | | | | | 76,928 | | | 78,268 | | | | | | | 5,149,363 | | | 5,161,805 | | | Less: | | | | | | | | | Current portion | | | | | (175,854) | | | (176,019) | | | Unamortized debt issue costs | | | | | (35,059) | | | (35,447) | | | Discount payable | | | | | (1,067) | | | (1,075) | | | Long-term debt, net of current portion | | | | | $ | 4,937,383 | | | $ | 4,949,264 | |
| | | | | | | | | | | | | March 31,
2026 | | December 31,
2025 | | (In thousands) | | Long-term debt, net of current portion | $ | 1,000 | | | $ | — | | Notes payable – Members | 176,988 | | | 159,495 | | | $ | 177,988 | | | $ | 159,495 | |
|
| Schedule of Line of Credit Facilities |
Basin Electric and Dakota Gas have outstanding revolving credit facilities which are included in Notes payable on the consolidated balance sheets as follows: | | | | | | | | | | | | | | | | | | | | | | Facility | | Expiration Date | | Facility Limit | | Outstanding Amounts as of March 31, 2026 | | | | | (In thousands) | Commercial Paper/Revolving Credit Agreement (a) | | March 2031 | | $ | 100,000 | | | $ | 100,000 | | Revolving Credit Agreement (a) | | May 2030 | | 1,250,000 | | | - | | | 2025 Term Loan | | October 2026 | | 375,000 | | | 375,000 | | | Total notes payable | | | | $ | 1,725,000 | | | $ | 475,000 | |
_______________ (a)The taxable and tax-exempt commercial paper programs are supported by revolving credit agreements with various banks. Balances reflect commercial paper amounts outstanding. There were no amounts outstanding under the revolving credit agreements.
|