Black Hills (BKH) 10-Q 5 May 22 2022 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2022	Apr. 29, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity File Number	001-31303
Entity Registrant Name	Black Hills Corporation
Entity Incorporation, State or Country Code	SD
Entity Tax Identification Number	46-0458824
Entity Address, Address Line One	7001 Mount Rushmore Road
Entity Address, City or Town	Rapid City
Entity Address, State or Province	SD
Entity Address, Postal Zip Code	57702
City Area Code	605
Local Phone Number	721-1700
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Title of 12(b) Security	Common stock of $1.00 par value
Trading Symbol	BKH
Security Exchange Name	NYSE
Entity Common Stock, Shares Outstanding		64,833,223
Entity Central Index Key	0001130464
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Statement [Abstract]
Revenues	$ 823,570	$ 633,432
Operating expenses:
Fuel, purchased power and cost of natural gas sold	436,926	293,147
Operations and maintenance	136,132	129,679
Depreciation, depletion and amortization	60,463	57,269
Taxes - property and production	16,696	15,022
Total operating expenses	650,217	495,117
Operating income	173,353	138,315
Other income (expense):
Interest expense incurred net of amounts capitalized (including amortization of debt issuance costs, premiums and discounts)	(38,821)	(37,825)
Interest income	276	225
Other income, net	704	266
Total other income (expense)	(37,841)	(37,334)
Income before income taxes	135,512	100,981
Income tax expense	(14,488)	(494)
Net income	121,024	100,487
Net income attributable to non-controlling interest	(3,498)	(4,171)
Net income available for common stock	$ 117,526	$ 96,316
Earnings per share of common stock:
Earnings per share, Basic (usd per share)	$ 1.82	$ 1.54
Earnings per share, Diluted (usd per share)	$ 1.82	$ 1.54
Weighted average common shares outstanding:
Basic (in shares)	64,565	62,633
Diluted (in shares)	64,721	62,691

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Net income	$ 121,024	$ 100,487
Other comprehensive income (loss), net of tax:
Reclassification adjustments of benefit plan liability - prior service cost (net of tax of $6 and $9, respectively)	(18)	(16)
Reclassification adjustments of benefit plan liability - net loss (net of tax of $(45) and $(217), respectively)	143	381
Other comprehensive income, net of tax	6	1,018
Comprehensive income	121,030	101,505
Net income attributable to non-controlling interest	(3,498)	(4,171)
Comprehensive income available for common stock	117,532	97,334
Interest rate swaps
Other comprehensive income (loss), net of tax:
Reclassification of net realized (gains) losses on settled/amortized derivatives, net of tax	536	523
Commodity Contract
Other comprehensive income (loss), net of tax:
Reclassification of net realized (gains) losses on settled/amortized derivatives, net of tax	(1,702)	23
Net unrealized gains (losses) on commodity derivatives (net of tax of $(340) and $(35), respectively)	$ 1,047	$ 107

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
(Tax) benefit on reclassification adjustment of benefit plan liability - prior service cost	$ 6	$ 9
(Tax) benefit on reclassification adjustment of benefit plan liability - net loss	(45)	(217)
Interest rate swaps
(Tax) benefit on reclassification of net realized (gains) losses on settled/amortized derivatives	(177)	(190)
Commodity Contract
(Tax) benefit on reclassification of net realized (gains) losses on settled/amortized derivatives	552	(8)
(Tax) benefit on net unrealized gains (losses) on commodity derivatives	$ (340)	$ (35)

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (unaudited) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 16,330	$ 8,921
Restricted cash and equivalents	5,017	4,889
Accounts receivable, net	383,790	321,652
Materials, supplies and fuel	108,232	150,979
Derivative assets, current	7,382	4,373
Income tax receivable, net	17,991	18,017
Regulatory assets, current	265,496	270,290
Other current assets	45,070	29,012
Total current assets	849,308	808,133
Property, plant and equipment	7,927,840	7,856,573
Less: accumulated depreciation and depletion	(1,454,425)	(1,407,397)
Total property, plant and equipment, net	6,473,415	6,449,176
Other assets:
Goodwill	1,299,454	1,299,454
Intangible assets, net	10,474	10,770
Regulatory assets, non-current	457,848	526,309
Other assets, non-current	40,155	38,054
Total other assets, non-current	1,807,931	1,874,587
TOTAL ASSETS	9,130,654	9,131,896
Current liabilities:
Accounts payable	173,102	217,761
Accrued liabilities	227,209	244,759
Derivative liabilities, current	191	1,439
Regulatory liabilities, current	52,742	17,574
Notes payable	341,480	420,180
Total current liabilities	794,724	901,713
Long-term debt, net of current maturities	4,128,291	4,126,923
Deferred credits and other liabilities:
Deferred income tax liabilities, net	490,384	465,388
Regulatory liabilities, non-current	482,442	485,377
Benefit plan liabilities	123,111	123,925
Other deferred credits and other liabilities	140,680	141,447
Total deferred credits and other liabilities	1,236,617	1,216,137
Commitments, contingencies and guarantees (Note 3)
Equity:
Common stock $1 par value; 100,000,000 shares authorized; issued 64,849,227 and 64,793,095 shares, respectively	64,849	64,793
Additional paid-in capital	1,786,980	1,783,436
Retained earnings	1,041,451	962,458
Treasury stock, at cost – 19,685 and 54,078 shares, respectively	(1,287)	(3,509)
Accumulated other comprehensive income (loss)	(20,078)	(20,084)
Total stockholders’ equity	2,871,915	2,787,094
Non-controlling interest	99,107	100,029
Total equity	2,971,022	2,887,123
TOTAL LIABILITIES AND TOTAL EQUITY	$ 9,130,654	$ 9,131,896

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (unaudited) (Parenthetical) - $ / shares	Mar. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Common stock, par value (usd per share)	$ 1	$ 1
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares, issued	64,849,227	64,793,095
Treasury stock, shares	19,685	54,078

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Operating activities:
Net income	$ 121,024	$ 100,487
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation, depletion and amortization	60,463	57,269
Deferred financing cost amortization	2,475	2,214
Stock compensation	3,638	3,257
Deferred income taxes	14,462	153
Employee benefit plans	1,173	2,304
Other adjustments, net	5,337	6,151
Changes in certain operating assets and liabilities:
Materials, supplies and fuel	34,995	15,932
Accounts receivable and other current assets	(71,241)	(11,599)
Accounts payable and other current liabilities	(8,422)	(23,602)
Regulatory assets	98,528	(533,006)
Regulatory liabilities	0	(5,291)
Other operating activities, net	1,689	(355)
Net cash provided by (used in) operating activities	264,121	(386,086)
Investing activities:
Property, plant and equipment additions	(136,779)	(146,302)
Other investing activities	(1,065)	78
Net cash (used in) investing activities	(137,844)	(146,224)
Financing activities:
Dividends paid on common stock	(38,533)	(35,514)
Common stock issued	3,791	0
Term loan - borrowings	0	800,000
Term loan - repayments	0	(200,000)
Net borrowings (payments) of Revolving Credit Facility and CP Program	(78,700)	(18,170)
Long-term debt - repayments	0	(1,436)
Distributions to non-controlling interest	(4,420)	(4,644)
Other financing activities	(878)	(740)
Net cash provided by (used in) financing activities	(118,740)	539,496
Net change in cash, restricted cash and cash equivalents	7,537	7,186
Cash, restricted cash and cash equivalents at beginning of period	13,810	10,739
Cash, restricted cash and cash equivalents at end of period	21,347	17,925
Supplemental cash flow information:
Interest, net of amounts capitalized	(23,605)	(21,232)
Income taxes	0	990
Accrued property, plant and equipment purchases at March 31	$ 39,559	$ 51,914

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Equity (unaudited) - USD ($)	Total	Common Stock	Treasury Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (loss)	Noncontrolling Interest
Beginning balance (in shares) at Dec. 31, 2020		62,827,179	32,492
Beginning balance at Dec. 31, 2020	$ 2,662,647,000	$ 62,827,000	$ (2,119,000)	$ 1,657,285,000	$ 870,738,000	$ (27,346,000)	$ 101,262,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	100,487,000				96,316,000		4,171,000
Other comprehensive income, net of tax	1,018,000					1,018,000
Dividends on common stock	(35,514,000)				(35,514,000)
Share-based compensation (in shares)		82,794	7,448
Share-based compensation	1,310,000	$ 83,000	$ (445,000)	1,672,000
Other	(2,000)				(2,000)
Distributions to non-controlling interest	(4,644,000)						(4,644,000)
Ending balance (in shares) at Mar. 31, 2021		62,909,973	39,940
Ending balance at Mar. 31, 2021	2,725,302,000	$ 62,910,000	$ (2,564,000)	1,658,957,000	931,538,000	(26,328,000)	100,789,000
Beginning balance (in shares) at Dec. 31, 2021		64,793,095	54,078
Beginning balance at Dec. 31, 2021	2,887,123,000	$ 64,793,000	$ (3,509,000)	1,783,436,000	962,458,000	(20,084,000)	100,029,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	121,024,000				117,526,000		3,498,000
Other comprehensive income, net of tax	6,000					6,000
Dividends on common stock	(38,533,000)				(38,533,000)
Share-based compensation (in shares)		425	(34,393)
Share-based compensation	2,031,000		$ 2,222,000	(191,000)
Issuance of common stock (in shares)		55,707
Issuance of common stock	3,832,000	$ 56,000		3,776,000
Issuance costs	(41,000)			(41,000)
Distributions to non-controlling interest	(4,420,000)						(4,420,000)
Ending balance (in shares) at Mar. 31, 2022		64,849,227	19,685
Ending balance at Mar. 31, 2022	$ 2,971,022,000	$ 64,849,000	$ (1,287,000)	$ 1,786,980,000	$ 1,041,451,000	$ (20,078,000)	$ 99,107,000

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Equity (unaudited) (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest [Abstract]
Dividends on common stock (usd per share)	$ 0.595	$ 0.565

Management's Statements_

Management's Statements:	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Management's Statement	Management’s Statement The unaudited Condensed Consolidated Financial Statements included herein have been prepared by Black Hills Corporation (together with our subsidiaries the “Company”, “us”, “we” or “our”), pursuant to the rules and regulations of the SEC. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to such rules and regulations; however, we believe that the footnotes adequately disclose the information presented. These Condensed Consolidated Financial Statements should be read in conjunction with the consolidated financial statements and the notes included in our 2021 Annual Report on Form 10-K. Segment Reporting Our reportable segments are based on our method of internal reporting, which is generally segregated by differences in products and services. All of our operations and assets are located within the United States. We conduct our operations through the Electric Utilities and Gas Utilities segments. In the fourth quarter of 2021, we integrated our power generation and mining businesses within the Electric Utilities segment. The alignment is consistent with the current way our CODM evaluates the performance of the business and makes decisions related to the allocation of resources. Comparative periods presented reflect this change. For further information regarding our segment reporting, see Note 12 . Use of Estimates and Basis of Presentation The information furnished in the accompanying Condensed Consolidated Financial Statements reflects certain estimates required and all adjustments, including accruals, which are, in the opinion of management, necessary for a fair presentation of the March 31, 2022, December 31, 2021 and March 31, 2021 financial information. Certain lines of business in which we operate are highly seasonal, and our interim results of operations are not necessarily indicative of the results of operations to be expected for an entire year. Recently Issued Accounting Standards Facilitation of the Effects of Reference Rate Reform on Financial Reporting, ASU 2020-04 In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which was subsequently amended by ASU 2021-01. The standard provides relief for companies preparing for discontinuation of interest rates, such as LIBOR, and allows optional expedients and exceptions for applying GAAP to contracts, hedging relationships and other transactions affected by reference rate reform if certain criteria are met. The amendments in this update are elective and are effective upon the ASU issuance through December 31, 2022. We are currently evaluating whether we will apply the optional guidance as we assess the impact of the discontinuance of LIBOR on our current arrangements but do not expect it to have a material impact on our financial position, results of operations and cash flows.

Regulatory Matters_

Regulatory Matters:	3 Months Ended
	Mar. 31, 2022
Regulatory Assets and Liabilities Disclosure [Abstract]
Regulatory Matters	Regulatory Matters We had the following regulatory assets and liabilities (in thousands): As of As of March 31, 2022 December 31, 2021 Regulatory assets Winter Storm Uri (a) $ 438,675 $ 509,025 Deferred energy and fuel cost adjustments (b) 67,068 59,973 Deferred gas cost adjustments (b) 1,917 9,488 Gas price derivatives (b) 220 2,584 Deferred taxes on AFUDC (b) 7,420 7,457 Employee benefit plans and related deferred taxes (c) 87,947 88,923 Environmental (b) 1,375 1,385 Loss on reacquired debt (b) 20,561 21,011 Deferred taxes on flow through accounting (b) 69,387 63,243 Decommissioning costs (b) 5,339 5,961 Other regulatory assets (b) 23,435 27,549 Total regulatory assets 723,344 796,599 Less current regulatory assets (265,496) (270,290) Regulatory assets, non-current $ 457,848 $ 526,309 Regulatory liabilities Deferred energy and gas costs (b) $ 38,343 $ 6,113 Employee benefit plan costs and related deferred taxes (c) 31,943 32,241 Cost of removal (b) 181,690 179,976 Excess deferred income taxes (c) 259,856 264,042 Other regulatory liabilities (c) 23,352 20,579 Total regulatory liabilities 535,184 502,951 Less current regulatory liabilities (52,742) (17,574) Regulatory liabilities, non-current $ 482,442 $ 485,377 __________ (a) Timing of Winter Storm Uri incremental cost recovery and associated carrying costs vary by jurisdiction and some jurisdictions are still subject to pending applications with the respective utility commission. See further information below. (b) Recovery of costs, but we are not allowed a rate of return. (c) In addition to recovery or repayment of costs, we are allowed a return on a portion of this amount or a reduction in rate base. Regulatory Activity Except as discussed below, there have been no other significant changes to our Regulatory Matters from those previously disclosed in Note 2 of the Notes to the Consolidated Financial Statements in our 2021 Annual Report on Form 10-K. Winter Storm Uri In February 2021, a prolonged period of historic cold temperatures across the central United States, which covered all of our Utilities’ service territories, caused a substantial increase in heating and energy demand and contributed to unforeseeable and unprecedented market prices for natural gas and electricity. As a result of Winter Storm Uri, we incurred significant incremental fuel, purchased power and natural gas costs. Our Utilities submitted Winter Storm Uri cost recovery applications in our state jurisdictions seeking to recover $546 million of these incremental costs through separate tracking mechanisms over a weighted-average recovery period of 3.5 years. These incremental cost estimates are subject to adjustments as final decisions are issued by the respective utility commissions. In these applications, we seek approval to recover carrying costs. For the three months ended March 31, 2022 and 2021, $2.3 million and $0, respectively, of carrying costs were accrued and recorded to a regulatory asset. On January 27, 2022, Kansas Gas received approval from the KCC for their Winter Storm Uri cost recovery settlement with final rates implemented in February 2022. In March 2022, Colorado Electric and Colorado Gas received approval from the CPUC for their respective Winter Storm Uri cost recovery settlements with final rates implemented in April 2022. To date, Colorado Electric, Colorado Gas, Iowa Gas, Kansas Gas, Nebraska Gas and South Dakota Electric received commission approval of their Winter Storm Uri cost recovery applications. Additionally, Arkansas Gas and Wyoming Gas received approval for interim cost recovery subject to a final decision on carrying costs and recovery periods at a later date. For the three months ended March 31, 2022, our Utilities collected $73 million of Winter Storm Uri incremental costs and carrying costs from customers. As of March 31, 2022, we estimate that our remaining Winter Storm Uri regulatory asset has a weighted-average recovery period of 3.1 years. TCJA As part of Kansas Gas’s 2021 rate review settlement agreement, Kansas Gas will deliver $3.0 million of TCJA and state tax reform benefits to customers, annually, for three years starting in 2022 (approximately $9.1 million of total benefits expected to be delivered). For the three months ended March 31, 2022, Kansas Gas delivered $0.8 million of TCJA-related bill credits to customers. These bill credits, which resulted in a reduction of revenue, were offset by a reduction in income tax expense and resulted in a minimal impact to Net income for the three months ended March 31, 2022. Arkansas Gas On December 10, 2021, Arkansas Gas filed a rate review with the APSC seeking recovery of significant infrastructure investments in its 7,200-mile natural gas pipeline system. The rate review requests $22 million in new annual revenue with a capital structure of 50.9% equity and 49.1% debt and a return on equity of 10.2%. The request seeks to finalize rates in the fourth quarter of 2022.

Commitments, Contingencies and

Commitments, Contingencies and Guarantees:	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments, Contingencies and Guarantees	Commitments, Contingencies and Guarantees There have been no significant changes to commitments, contingencies and guarantees from those previously disclosed in Note 3 of our Notes to the Consolidated Financial Statements in our 2021 Annual Report on Form 10-K except for those described below. Power Sales Agreement On May 3, 2022, South Dakota Electric entered into an agreement with MDU to provide MDU capacity and energy up to a maximum of 50 MW in excess of Wygen III ownership. This agreement, which has similar terms and conditions as South Dakota Electric’s existing agreement with MDU expiring on December 31, 2023, is effective on January 1, 2024 and will expire on December 31, 2028. GT Resources, LLC v. Black Hills Corporation, Case No. 2020CV30751 (U.S. District Court for the City and County of Denver, Colorado) On April 13, 2022, a jury awarded $41 million for claims made by GT Resources, LLC (“GTR”) against BHC and two of its subsidiaries (Black Hills Exploration and Production, Inc. and Black Hills Gas Resources, Inc.), which ceased oil and natural gas operations in 2018 as part of BHC’s decision to exit the exploration and production business. The claims involved a dispute over a 2.3 million-acre concession award in Costa Rica which was acquired by a BHC subsidiary in 2003. GTR retained rights to receive a royalty interest on any hydrocarbon production from the concession upon the occurrence of contingent events. GTR contended that BHC and its subsidiaries failed to adequately pursue the opportunity and failed to transfer the concession to GTR. We believe we have meritorious defenses to the verdict and intend to appeal the verdict. At this time, we believe that the liability related to this matter, if any, is not reasonably estimable. Power Purchase Agreement On February 19, 2021, Colorado Electric entered into an agreement with TC Colorado Solar, LLC (TC Solar) to purchase up to 200 MW of renewable energy upon construction of a new solar facility, to be owned by TC Solar. This agreement relates to a new solar facility to be constructed and would expire 15 years after construction completion. On January 31, 2022, TC Solar provided notice of its intent to terminate the PPA. We disputed TC Solar's right to termination and, pursuant to the agreement, entered resolution negotiations to amend certain contract terms with TC Solar, which are ongoing. Transmission Service Agreements On January 1, 2022, Colorado Electric entered into a firm point-to-point transmission service agreement that provides Tri-State Generation and Transmission Association Inc. with a maximum of 58 MW of transmission capacity. This agreement expires December 31, 2024. On January 1, 2022, South Dakota Electric entered into a firm point-to-point transmission service agreement that provides MEAN with a maximum of 20 MW of transmission capacity. This agreement expires December 31, 2023.

Revenue_

Revenue:	3 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Revenue	Revenue The following tables depict the disaggregation of revenue, including intercompany revenue, from contracts with customers by customer type and timing of revenue recognition for each of the reportable segments for the three months ended March 31, 2022 and 2021. Sales tax and other similar taxes are excluded from revenues. Three Months Ended March 31, 2022 Electric Utilities Gas Utilities Inter-company Revenues Total Customer types: (in thousands) Retail $ 172,806 $ 561,013 $ — $ 733,819 Transportation — 49,523 (99) 49,424 Wholesale 10,275 — — 10,275 Market - off-system sales 7,154 238 — 7,392 Transmission/Other 15,433 9,575 (4,149) 20,859 Revenue from contracts with customers $ 205,668 $ 620,349 $ (4,248) $ 821,769 Other revenues 870 1,043 (112) 1,801 Total revenues $ 206,538 $ 621,392 $ (4,360) $ 823,570 Timing of revenue recognition: Services transferred at a point in time $ 7,113 $ — $ — $ 7,113 Services transferred over time 198,555 620,349 (4,248) 814,656 Revenue from contracts with customers $ 205,668 $ 620,349 $ (4,248) $ 821,769 Three Months Ended March 31, 2021 Electric Utilities Gas Utilities Inter-company Revenues Total Customer Types: (in thousands) Retail $ 204,280 $ 341,605 $ — $ 545,885 Transportation — 47,951 (110) 47,841 Wholesale 11,359 — — 11,359 Market - off-system sales 4,772 73 — 4,845 Transmission/Other 14,186 10,390 (4,289) 20,287 Revenue from contracts with customers $ 234,597 $ 400,019 $ (4,399) $ 630,217 Other revenues 807 2,500 (92) 3,215 Total Revenues $ 235,404 $ 402,519 $ (4,491) $ 633,432 Timing of Revenue Recognition: Services transferred at a point in time $ 6,976 $ — $ — $ 6,976 Services transferred over time 227,621 400,019 (4,399) 623,241 Revenue from contracts with customers $ 234,597 $ 400,019 $ (4,399) $ 630,217

Financing_

Financing:	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Financing	Financing Short-term Debt We had the following Notes payable outstanding in the accompanying Condensed Consolidated Balance Sheets (in thousands) as of: March 31, 2022 December 31, 2021 Balance Outstanding Letters of Credit (a) Balance Outstanding Letters of Credit (a) Revolving Credit Facility — 16,855 — 27,209 CP Program 341,480 — 420,180 — Total Notes payable $ 341,480 $ 16,855 $ 420,180 $ 27,209 __________ (a) Letters of credit are off-balance sheet commitments that reduce the borrowing capacity available on our corporate Revolving Credit Facility. Revolving Credit Facility and CP Program Our net short-term repayments related to our Revolving Credit Facility and CP Program during the three months ended March 31, 2022 were $79 million. The weighted average interest rate on short-term borrowings related to our Revolving Credit Facility and CP Program at March 31, 2022 was 0.79%. Debt Covenants Revolving Credit Facility Under our Revolving Credit Facility, we are required to maintain a Consolidated Indebtedness to Capitalization Ratio not to exceed 0.65 to 1.00. Subject to applicable cure periods, a violation of any of these covenants would constitute an event of default that entitles the lenders to terminate their remaining commitments and accelerate all principal and interest outstanding. We were in compliance with our covenants at March 31, 2022 as shown below: As of March 31, 2022 Covenant Requirement Consolidated Indebtedness to Capitalization Ratio 61.0% Less than 65% Wyoming Electric Covenants within Wyoming Electric's financing agreements require Wyoming Electric to maintain a debt to capitalization ratio of no more than 0.60 to 1.00. As of March 31, 2021, we were in compliance with these financial covenants. Equity At-the-Market Equity Offering Program During the three months ended March 31, 2022, we issued a total of 55,707 shares of common stock under the ATM for proceeds of $3.8 million. During the three months ended March 31, 2021, we did not issue any shares of common stock under the ATM.

Earnings Per Share_

Earnings Per Share:	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share A reconciliation of share amounts used to compute earnings per share in the accompanying Condensed Consolidated Statements of Income was as follows (in thousands, except per share amounts): Three Months Ended March 31, 2022 2021 Net income available for common stock $ 117,526 $ 96,316 Weighted average shares - basic 64,565 62,633 Dilutive effect of: Equity compensation 156 58 Weighted average shares - diluted 64,721 62,691 Earnings per share of common stock: Earnings per share, Basic $ 1.82 $ 1.54 Earnings per share, Diluted $ 1.82 $ 1.54 The following securities were excluded from the diluted earnings per share computation because of their anti-dilutive nature (in thousands): Three Months Ended March 31, 2022 2021 Equity compensation — 14 Restricted stock — 19 Anti-dilutive shares — 33

Risk Management and Derivatives

Risk Management and Derivatives:	3 Months Ended
	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Risk Management and Derivatives	Risk Management and Derivatives Market and Credit Risk Disclosures Our activities in the energy industry expose us to a number of risks in the normal operations of our businesses. Depending on the activity, we are exposed to varying degrees of market risk and credit risk. Market Risk Market risk is the potential loss that may occur as a result of an adverse change in market price, rate or supply. We are exposed but not limited to, the following market risks: • Commodity price risk associated with our retail natural gas and wholesale electric power marketing activities and our fuel procurement for several of our gas-fired generation assets, which include market fluctuations due to unpredictable factors such as the COVID-19 pandemic, weather (Winter Storm Uri), market speculation, inflation, pipeline constraints, and other factors that may impact natural gas and electric supply and demand; and • Interest rate risk associated with future debt, including reduced access to liquidity during periods of extreme capital markets volatility, such as the 2008 financial crisis and the COVID-19 pandemic. Credit Risk Credit risk is the risk of financial loss resulting from non-performance of contractual obligations by a counterparty. We attempt to mitigate our credit exposure by conducting business primarily with high credit quality entities, setting tenor and credit limits commensurate with counterparty financial strength, obtaining master netting agreements and mitigating credit exposure with less creditworthy counterparties through parental guarantees, cash collateral requirements, letters of credit and other security agreements. We perform ongoing credit evaluations of our customers and adjust credit limits based upon payment history and the customers’ current creditworthiness, as determined by review of their current credit information. We maintain a provision for estimated credit losses based upon historical experience, changes in current market conditions, expected losses and any specific customer collection issue that is identified. Derivatives and Hedging Activity Our derivative and hedging activities included in the accompanying Condensed Consolidated Balance Sheets, Condensed Consolidated Statements of Income and Condensed Consolidated Statements of Comprehensive Income are detailed below and in Note 8 . The operations of our Utilities, including natural gas sold by our Gas Utilities and natural gas used by our Electric Utilities’ generation plants or those plants under PPAs where our Electric Utilities must provide the generation fuel (tolling agreements), expose our utility customers to natural gas price volatility. Therefore, as allowed or required by state utility commissions, we have entered into commission approved hedging programs utilizing natural gas futures, options, over-the-counter swaps and basis swaps to reduce our customers’ underlying exposure to these fluctuations. These transactions are considered derivatives, and in accordance with accounting standards for derivatives and hedging, mark-to-market adjustments are recorded as Derivative assets or Derivative liabilities on the accompanying Condensed Consolidated Balance Sheets, net of balance sheet offsetting as permitted by GAAP. For our regulated Utilities’ hedging plans, unrealized and realized gains and losses, as well as option premiums and commissions on these transactions, are recorded as Regulatory assets or Regulatory liabilities in the accompanying Condensed Consolidated Balance Sheets in accordance with the state regulatory commission guidelines. When the related costs are recovered through our rates, the hedging activity is recognized in the Condensed Consolidated Statements of Income. We use wholesale power purchase and sale contracts to manage purchased power costs and load requirements associated with serving our electric customers. Periodically, certain wholesale energy contracts are considered derivative instruments due to not qualifying for the normal purchase and normal sales exception to derivative accounting. Changes in the fair value of these commodity derivatives are recognized in the Condensed Consolidated Statements of Income. We buy, sell and deliver natural gas at competitive prices by managing commodity price risk. As a result of these activities, this area of our business is exposed to risks associated with changes in the market price of natural gas. We manage our exposure to such risks using over-the-counter and exchange traded options and swaps with counterparties in anticipation of forecasted purchases and sales during time frames ranging from April 2022 through December 2024. A portion of our over-the-counter swaps have been designated as cash flow hedges to mitigate the commodity price risk associated with deliveries under fixed price forward contracts to deliver gas to our Choice Gas Program customers. The gain or loss on these designated derivatives is reported in AOCI in the accompanying Condensed Consolidated Balance Sheets and reclassified into earnings in the same period that the underlying hedged item is recognized in earnings. Effectiveness of our hedging position is evaluated at least quarterly. The contract or notional amounts and terms of the electric and natural gas derivative commodity instruments held at our Utilities are composed of both long and short positions. We had the following net long positions as of: March 31, 2022 December 31, 2021 Notional Maximum Term (months) (a) Notional Maximum Term (months) (a) Natural gas futures purchased — 0 590,000 3 Natural gas options purchased, net — 0 3,100,000 3 Natural gas basis swaps purchased — 0 870,000 3 Natural gas over-the-counter swaps, net (b) 2,750,000 33 4,570,000 34 Natural gas physical contracts, net (c) 4,181,531 21 16,416,677 24 __________ (a) Term reflects the maximum forward period hedged. (b) As of March 31, 2022, 410,000 MMBtus of natural gas over-the-counter swaps purchases were designated as cash flow hedges. (c) Volumes exclude derivative contracts that qualify for the normal purchases and normal sales exception permitted by GAAP. We have certain derivative contracts which contain credit provisions. These credit provisions may require the Company to post collateral when credit exposure to the Company is in excess of a negotiated line of unsecured credit. At March 31, 2022, the Company posted $0.3 million related to such provisions, which is included in Other current assets on the Condensed Consolidated Balance Sheets. Derivatives by Balance Sheet Classification As required by accounting standards for derivatives and hedges, fair values within the following tables are presented on a gross basis aside from the netting of asset and liability positions. Netting of positions is permitted in accordance with accounting standards for offsetting and under terms of our master netting agreements that allow us to settle positive and negative positions. The following table presents the fair value and balance sheet classification of our derivative instruments (in thousands) as of: Balance Sheet Location March 31, 2022 December 31, 2021 Derivatives designated as hedges: Asset derivative instruments: Current commodity derivatives Derivative assets, current $ 1,081 $ 2,017 Noncurrent commodity derivatives Other assets, non-current 11 18 Total derivatives designated as hedges $ 1,092 $ 2,035 Derivatives not designated as hedges: Asset derivative instruments: Current commodity derivatives Derivative assets, current $ 6,301 $ 2,356 Noncurrent commodity derivatives Other assets, non-current 596 804 Liability derivative instruments: Current commodity derivatives Derivative liabilities, current (191) (1,439) Noncurrent commodity derivatives Other deferred credits and other liabilities (29) (20) Total derivatives not designated as hedges $ 6,677 $ 1,701 Derivatives Designated as Hedge Instruments The impacts of cash flow hedges on our Condensed Consolidated Statements of Comprehensive Income and Condensed Consolidated Statements of Income are presented below for the three months ended March 31, 2022 and 2021. Note that this presentation does not reflect the gains or losses arising from the underlying physical transactions; therefore, it is not indicative of the economic profit or loss we realized when the underlying physical and financial transactions were settled. Three Months Ended March 31, Three Months Ended March 31, Three Months Ended March 31, Three Months Ended March 31, 2022 2021 2022 2021 Derivatives in Cash Flow Hedging Relationships Amount of Gain/(Loss) Recognized in OCI Income Statement Location Amount of Gain/(Loss) Reclassified from AOCI into Income (in thousands) (in thousands) Interest rate swaps $ 713 $ 713 Interest expense $ (713) $ (713) Commodity derivatives (867) 173 Fuel, purchased power and cost of natural gas sold 2,254 (31) Total $ (154) $ 886 $ 1,541 $ (744) As of March 31, 2022, $1.8 million of net losses related to our interest rate swaps and commodity derivatives are expected to be reclassified from AOCI into earnings within the next 12 months. As market prices fluctuate, estimated and actual realized gains or losses will change during future periods. Derivatives Not Designated as Hedge Instruments The following table summarizes the impacts of derivative instruments not designated as hedge instruments on our Condensed Consolidated Statements of Income for the three months ended March 31, 2022 and 2021. Note that this presentation does not reflect the expected gains or losses arising from the underlying physical transactions; therefore, it is not indicative of the economic profit or loss we realized when the underlying physical and financial transactions were settled. Three Months Ended March 31, Three Months Ended March 31, 2022 2021 Derivatives Not Designated as Hedging Instruments Income Statement Location Amount of Gain/(Loss) on Derivatives Recognized in Income (in thousands) Commodity derivatives - Electric Fuel, purchased power and cost of natural gas sold $ — $ (1,524) Commodity derivatives - Natural Gas Fuel, purchased power and cost of natural gas sold 3,494 366 $ 3,494 $ (1,158) As discussed above, financial instruments used in our regulated Gas Utilities are not designated as cash flow hedges. However, there is no earnings impact because the unrealized gains and losses arising from the use of these financial instruments are recorded as Regulatory assets or Regulatory liabilities. The net unrealized losses included in our Regulatory asset accounts related to these financial instruments in our Gas Utilities were $0.2 million and $2.6 million as of March 31, 2022 and December 31, 2021, respectively. For our Electric Utilities, the unrealized gains and losses arising from these derivatives are recognized in the Condensed Consolidated Statements of Income.

Fair Value Measurements_

Fair Value Measurements:	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurement	Fair Value Measurements We use the following fair value hierarchy for determining inputs for our financial instruments. Our assets and liabilities for financial instruments are classified and disclosed in one of the following fair value categories: Level 1 — Unadjusted quoted prices available in active markets that are accessible at the measurement date for identical unrestricted assets or liabilities. Level 1 instruments primarily consist of highly liquid and actively traded financial instruments with quoted pricing information on an ongoing basis. Level 2 — Pricing inputs include quoted prices for identical or similar assets and liabilities in active markets other than quoted prices in Level 1, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability and inputs that are derived principally from or corroborated by observable market data by correlation or other means. Level 3 — Pricing inputs are generally less observable from objective sources. These inputs reflect management’s best estimate of fair value using its own assumptions about the assumptions a market participant would use in pricing the asset or liability. Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Our assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the placement within the fair value hierarchy levels. We record transfers, if necessary, between levels at the end of the reporting period for all of our financial instruments. Transfers into Level 3, if any, occur when significant inputs used to value the derivative instruments become less observable, such as a significant decrease in the frequency and volume in which the instrument is traded, negatively impacting the availability of observable pricing inputs. Transfers out of Level 3, if any, occur when the significant inputs become more observable, such as when the time between the valuation date and the delivery date of a transaction becomes shorter, positively impacting the availability of observable pricing inputs. Recurring Fair Value Measurements Derivatives The commodity contracts for our Utilities segments are valued using the market approach and include forward strip pricing at liquid delivery points, exchange-traded futures, options, basis swaps and over-the-counter swaps and options (Level 2) for wholesale electric energy and natural gas contracts. For exchange-traded futures, options and basis swap assets and liabilities, fair value was derived using broker quotes validated by the exchange settlement pricing for the applicable contract. For over-the-counter instruments, the fair value is obtained by utilizing a nationally recognized service that obtains observable inputs to compute the fair value, which we validate by comparing our valuation with the counterparty. The fair value of these swaps includes a credit valuation adjustment based on the credit spreads of the counterparties when we are in an unrealized gain position or on our own credit spread when we are in an unrealized loss position. For additional information, see Note 1 of our Notes to the Consolidated Financial Statements in our 2021 Annual Report on Form 10-K. The following tables set forth, by level within the fair value hierarchy, our gross assets and gross liabilities and related offsetting of cash collateral and contractual netting rights as permitted by GAAP that were accounted for at fair value on a recurring basis for derivative instruments. As of March 31, 2022 Level 1 Level 2 Level 3 Cash Collateral and Counterparty Netting (a) Total (in thousands) Assets: Commodity derivatives — Gas Utilities $ — $ 7,989 $ — $ — $ 7,989 Total $ — $ 7,989 $ — $ — $ 7,989 Liabilities: Commodity derivatives — Gas Utilities $ — $ 220 $ — $ — $ 220 Total $ — $ 220 $ — $ — $ 220 __________ (a) As of March 31, 2022, we had no commodity derivative assets or liabilities, or related gross collateral amounts, that were subject to master netting agreements. As of December 31, 2021 Level 1 Level 2 Level 3 Cash Collateral and Counterparty Netting (a) Total (in thousands) Assets: Commodity derivatives — Gas Utilities $ — $ 7,569 $ — $ (2,374) $ 5,195 Total $ — $ 7,569 $ — $ (2,374) $ 5,195 Liabilities: Commodity derivatives — Gas Utilities $ — $ 3,273 $ — $ (1,814) $ 1,459 Total $ — $ 3,273 $ — $ (1,814) $ 1,459 __________ (a) As of December 31, 2021, $2.4 million of our commodity derivative assets and $1.8 million of our commodity derivative liabilities, as well as related gross collateral amounts, were subject to master netting agreements. Pension and Postretirement Plan Assets Fair value measurements also apply to the valuation of our pension and postretirement plan assets. Current accounting guidance requires employers to annually disclose information about the fair value measurements of their assets of a defined benefit pension or other postretirement plan. The fair value of these assets is presented in Note 13 to the Consolidated Financial Statements included in our 2021 Annual Report on Form 10-K. Other Fair Value Measures The carrying amount of cash and cash equivalents, restricted cash and equivalents and short-term borrowings approximates fair value due to their liquid or short-term nature. Cash, cash equivalents and restricted cash are classified in Level 1 in the fair value hierarchy. Notes payable consist of commercial paper borrowings and are not traded on an exchange; therefore, they are classified as Level 2 in the fair value hierarchy. The following table presents the carrying amounts and fair values of financial instruments not recorded at fair value on the Condensed Consolidated Balance Sheets (in thousands) as of: March 31, 2022 December 31, 2021 Carrying Fair Value Carrying Fair Value Long-term debt, including current maturities (a) $ 4,128,291 $ 4,201,135 $ 4,126,923 $ 4,570,619 __________ (a) Long-term debt is valued based on observable inputs available either directly or indirectly for similar liabilities in active markets and therefore is classified in Level 2 in the fair value hierarchy. Carrying amount of long-term debt is net of deferred financing costs.

Other Comprehensive Income_

Other Comprehensive Income:	3 Months Ended
	Mar. 31, 2022
Statement of Comprehensive Income [Abstract]
Other Comprehensive Income	Other Comprehensive Income We record deferred gains (losses) in AOCI related to interest rate swaps designated as cash flow hedges, commodity contracts designated as cash flow hedges and the amortization of components of our defined benefit plans. Deferred gains (losses) for our commodity contracts designated as cash flow hedges are recognized in earnings upon settlement, while deferred gains (losses) related to our interest rate swaps are recognized in earnings as they are amortized. The following table details reclassifications out of AOCI and into Net income. The amounts in parentheses below indicate decreases to Net income in the Condensed Consolidated Statements of Income for the period, net of tax (in thousands): Location on the Condensed Consolidated Statements of Income Amount Reclassified from AOCI Three Months Ended March 31, 2022 2021 Gains and (losses) on cash flow hedges: Interest rate swaps Interest expense $ (713) $ (713) Commodity contracts Fuel, purchased power and cost of natural gas sold 2,254 (31) 1,541 (744) Income tax Income tax expense (375) 198 Total reclassification adjustments related to cash flow hedges, net of tax $ 1,166 $ (546) Amortization of components of defined benefit plans: Prior service cost Operations and maintenance $ 24 $ 25 Actuarial gain (loss) Operations and maintenance (188) (598) (164) (573) Income tax Income tax expense 39 208 Total reclassification adjustments related to defined benefit plans, net of tax $ (125) $ (365) Total reclassifications $ 1,041 $ (911) Balances by classification included within AOCI, net of tax on the accompanying Condensed Consolidated Balance Sheets were as follows (in thousands): Derivatives Designated as Cash Flow Hedges Interest Rate Swaps Commodity Derivatives Employee Benefit Plans Total As of December 31, 2021 $ (10,384) $ 1,476 $ (11,176) $ (20,084) Other comprehensive income (loss) before reclassifications — 1,047 — 1,047 Amounts reclassified from AOCI 536 (1,702) 125 (1,041) As of March 31, 2022 $ (9,848) $ 821 $ (11,051) $ (20,078) Derivatives Designated as Cash Flow Hedges Interest Rate Swaps Commodity Derivatives Employee Benefit Plans Total As of December 31, 2020 $ (12,558) $ 2 $ (14,790) $ (27,346) Other comprehensive income (loss) before reclassifications — 107 — 107 Amounts reclassified from AOCI 523 23 365 911 As of March 31, 2021 $ (12,035) $ 132 $ (14,425) $ (26,328)

Employee Benefit Plans_

Employee Benefit Plans:	3 Months Ended
	Mar. 31, 2022
Retirement Benefits [Abstract]
Employee Benefit Plans	Employee Benefit Plans Components of Net Periodic Expense The components of net periodic expense were as follows (in thousands): Defined Benefit Pension Plan Supplemental Non-qualified Defined Benefit Plans Non-pension Defined Benefit Postretirement Healthcare Plan Three Months Ended March 31, 2022 2021 2022 2021 2022 2021 Service cost $ 982 $ 1,259 $ (392) $ 693 $ 492 $ 559 Interest cost 2,705 2,328 208 177 321 265 Expected return on plan assets (4,631) (5,219) — — (31) (34) Net amortization of prior service costs (17) — — — (72) (109) Recognized net actuarial loss 1,523 1,829 69 439 16 117 Net periodic expense (benefit) $ 562 $ 197 $ (115) $ 1,309 $ 726 $ 798 Plan Contributions Contributions to the Defined Benefit Pension Plan are cash contributions made directly to the Pension Plan Trust account. Contributions to the Postretirement Healthcare and Supplemental Plans are made in the form of benefit payments. Contributions made in the first three months of 2022 and anticipated contributions for 2022 and 2023 are as follows (in thousands): Contributions Made Additional Contributions Contributions Three Months Ended March 31, 2022 Anticipated for 2022 Anticipated for 2023 Defined Benefit Pension Plan $ — $ 3,900 $ 3,200 Non-pension Defined Benefit Postretirement Healthcare Plan $ 1,276 $ 3,828 $ 4,761 Supplemental Non-qualified Defined Benefit and Defined Contribution Plans $ 539 $ 1,617 $ 2,215

Income Taxes_

Income Taxes:	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Income Tax Expense and Effective Tax Rates Three Months Ended March 31, 2022 Compared to the Three Months Ended March 31, 2021 Income tax expense for the three months ended March 31, 2022 was $14.5 million compared to $0.5 million reported for the same period in 2021. For the three months ended March 31, 2022, the effective tax rate was 10.7% compared to 0.5% for the same period in 2021. The higher effective tax rate is primarily due to $7.6 million of prior year tax benefits from Colorado Electric TCJA-related bill credits to customers (which were offset by reduced revenue).

Business Segment Information_

Business Segment Information:	3 Months Ended
	Mar. 31, 2022
Segment Reporting Information, Additional Information [Abstract]
Business Segment Information	Business Segment Information Our CODM reviews financial information presented on an operating segment basis for purposes of making decisions and assessing financial performance. Our CODM assesses the performance of our operating segments based on operating income. For the first nine months of 2021, we had reported four operating segments: Electric Utilities, Gas Utilities, Power Generation and Mining. In the fourth quarter of 2021, we changed our operating segments to align with the revised manner in which our CODM reviews our financial performance and allocates resources. Our power generation and mining businesses, which were previously presented as separate operating segments, are now part of our Electric Utilities segment. This change aligns with our vertically integrated business model for our Electric Utilities. Comparative periods presented reflect this change. Our operating segments are equivalent to our reportable segments. Segment information was as follows (in thousands): Total assets (net of intercompany eliminations) as of: March 31, 2022 December 31, 2021 Electric Utilities $ 3,804,335 $ 3,796,662 Gas Utilities 5,232,594 5,246,370 Corporate and Other 93,725 88,864 Total assets $ 9,130,654 $ 9,131,896 Three Months Ended March 31, 2022 External Operating Revenue Inter-company Operating Revenue Total Revenues Contract Customers Other Revenues Contract Customers Other Revenues Segment: Electric Utilities $ 202,739 $ 870 $ 2,929 $ — $ 206,538 Gas Utilities 619,030 931 1,319 112 621,392 Inter-company eliminations — — (4,248) (112) (4,360) Total $ 821,769 $ 1,801 $ — $ — $ 823,570 Three Months Ended March 31, 2021 External Operating Revenue Inter-company Operating Revenue Total Revenues Contract Customers Other Revenues Contract Customers Other Revenues Segment: Electric Utilities $ 231,718 $ 807 $ 2,879 $ — $ 235,404 Gas Utilities 398,499 2,408 1,520 92 402,519 Inter-company eliminations — — (4,399) (92) (4,491) Total $ 630,217 $ 3,215 $ — $ — $ 633,432 Three Months Ended March 31, 2022 2021 Operating income (loss): Electric Utilities $ 50,746 $ 39,343 Gas Utilities 123,540 102,094 Corporate and Other (933) (3,122) Operating income 173,353 138,315 Interest expense, net (38,545) (37,600) Other income, net 704 266 Income tax expense (14,488) (494) Net income 121,024 100,487 Net income attributable to non-controlling interest (3,498) (4,171) Net income available for common stock $ 117,526 $ 96,316

Selected Balance Sheet Informat

Selected Balance Sheet Information:	3 Months Ended
	Mar. 31, 2022
Selected Balance Sheet Information [Abstract]
Selected Balance Sheet Information	Selected Balance Sheet Information Accounts Receivable and Allowance for Credit Losses Following is a summary of Accounts receivable, net included in the accompanying Condensed Consolidated Balance Sheets (in thousands) as of: March 31, 2022 December 31, 2021 Billed Accounts Receivable $ 257,982 $ 181,027 Unbilled Revenue 130,294 142,738 Less: Allowance for Credit Losses (4,486) (2,113) Accounts Receivable, net $ 383,790 $ 321,652 Changes to allowance for credit losses for the three months ended March 31, 2022 and 2021, respectively, were as follows (in thousands): Balance at Beginning of Year Additions Charged to Costs and Expenses Recoveries and Other Additions Write-offs and Other Deductions Balance at March 31, 2022 $ 2,113 $ 3,416 $ 655 $ (1,698) $ 4,486 2021 $ 7,003 $ 1,877 $ 1,014 $ (1,643) $ 8,251 Materials, Supplies and Fuel The following amounts by major classification are included in Materials, supplies and fuel on the accompanying Condensed Consolidated Balance Sheets (in thousands) as of: March 31, 2022 December 31, 2021 Materials and supplies $ 92,224 $ 86,400 Fuel - Electric Utilities 1,459 1,267 Natural gas in storage 14,549 63,312 Total materials, supplies and fuel $ 108,232 $ 150,979 Accrued Liabilities The following amounts by major classification are included in Accrued liabilities on the accompanying Condensed Consolidated Balance Sheets (in thousands) as of: March 31, 2022 December 31, 2021 Accrued employee compensation, benefits and withholdings $ 51,032 $ 74,387 Accrued property taxes 53,389 50,874 Customer deposits and prepayments 39,543 48,814 Accrued interest 46,396 33,680 Other (none of which is individually significant) 36,849 37,004 Total accrued liabilities $ 227,209 $ 244,759

Subsequent Events_

Subsequent Events:	3 Months Ended
	Mar. 31, 2022
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Except as described in Note 3 , there have been no events subsequent to March 31, 2022, which would require recognition in the condensed consolidated financial statements or disclosures.

Management's Statement (Policie

Management's Statement (Policies)	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Segment Reporting	Segment Reporting Our reportable segments are based on our method of internal reporting, which is generally segregated by differences in products and services. All of our operations and assets are located within the United States. We conduct our operations through the Electric Utilities and Gas Utilities segments. In the fourth quarter of 2021, we integrated our power generation and mining businesses within the Electric Utilities segment. The alignment is consistent with the current way our CODM evaluates the performance of the business and makes decisions related to the allocation of resources. Comparative periods presented reflect this change. For further information regarding our segment reporting, see Note 12 .
Use of Estimates and Basis of Presentation	Use of Estimates and Basis of Presentation The information furnished in the accompanying Condensed Consolidated Financial Statements reflects certain estimates required and all adjustments, including accruals, which are, in the opinion of management, necessary for a fair presentation of the March 31, 2022, December 31, 2021 and March 31, 2021 financial information. Certain lines of business in which we operate are highly seasonal, and our interim results of operations are not necessarily indicative of the results of operations to be expected for an entire year.
Recently Issued Accounting Standards	Recently Issued Accounting Standards Facilitation of the Effects of Reference Rate Reform on Financial Reporting, ASU 2020-04 In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which was subsequently amended by ASU 2021-01. The standard provides relief for companies preparing for discontinuation of interest rates, such as LIBOR, and allows optional expedients and exceptions for applying GAAP to contracts, hedging relationships and other transactions affected by reference rate reform if certain criteria are met. The amendments in this update are elective and are effective upon the ASU issuance through December 31, 2022. We are currently evaluating whether we will apply the optional guidance as we assess the impact of the discontinuance of LIBOR on our current arrangements but do not expect it to have a material impact on our financial position, results of operations and cash flows.

Regulatory Matters (Tables)

Regulatory Matters (Tables)	3 Months Ended
	Mar. 31, 2022
Regulatory Assets and Liabilities Disclosure [Abstract]
Schedule of Regulatory Assets and Liabilities	We had the following regulatory assets and liabilities (in thousands): As of As of March 31, 2022 December 31, 2021 Regulatory assets Winter Storm Uri (a) $ 438,675 $ 509,025 Deferred energy and fuel cost adjustments (b) 67,068 59,973 Deferred gas cost adjustments (b) 1,917 9,488 Gas price derivatives (b) 220 2,584 Deferred taxes on AFUDC (b) 7,420 7,457 Employee benefit plans and related deferred taxes (c) 87,947 88,923 Environmental (b) 1,375 1,385 Loss on reacquired debt (b) 20,561 21,011 Deferred taxes on flow through accounting (b) 69,387 63,243 Decommissioning costs (b) 5,339 5,961 Other regulatory assets (b) 23,435 27,549 Total regulatory assets 723,344 796,599 Less current regulatory assets (265,496) (270,290) Regulatory assets, non-current $ 457,848 $ 526,309 Regulatory liabilities Deferred energy and gas costs (b) $ 38,343 $ 6,113 Employee benefit plan costs and related deferred taxes (c) 31,943 32,241 Cost of removal (b) 181,690 179,976 Excess deferred income taxes (c) 259,856 264,042 Other regulatory liabilities (c) 23,352 20,579 Total regulatory liabilities 535,184 502,951 Less current regulatory liabilities (52,742) (17,574) Regulatory liabilities, non-current $ 482,442 $ 485,377 __________ (a) Timing of Winter Storm Uri incremental cost recovery and associated carrying costs vary by jurisdiction and some jurisdictions are still subject to pending applications with the respective utility commission. See further information below. (b) Recovery of costs, but we are not allowed a rate of return. (c) In addition to recovery or repayment of costs, we are allowed a return on a portion of this amount or a reduction in rate base.

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following tables depict the disaggregation of revenue, including intercompany revenue, from contracts with customers by customer type and timing of revenue recognition for each of the reportable segments for the three months ended March 31, 2022 and 2021. Sales tax and other similar taxes are excluded from revenues. Three Months Ended March 31, 2022 Electric Utilities Gas Utilities Inter-company Revenues Total Customer types: (in thousands) Retail $ 172,806 $ 561,013 $ — $ 733,819 Transportation — 49,523 (99) 49,424 Wholesale 10,275 — — 10,275 Market - off-system sales 7,154 238 — 7,392 Transmission/Other 15,433 9,575 (4,149) 20,859 Revenue from contracts with customers $ 205,668 $ 620,349 $ (4,248) $ 821,769 Other revenues 870 1,043 (112) 1,801 Total revenues $ 206,538 $ 621,392 $ (4,360) $ 823,570 Timing of revenue recognition: Services transferred at a point in time $ 7,113 $ — $ — $ 7,113 Services transferred over time 198,555 620,349 (4,248) 814,656 Revenue from contracts with customers $ 205,668 $ 620,349 $ (4,248) $ 821,769 Three Months Ended March 31, 2021 Electric Utilities Gas Utilities Inter-company Revenues Total Customer Types: (in thousands) Retail $ 204,280 $ 341,605 $ — $ 545,885 Transportation — 47,951 (110) 47,841 Wholesale 11,359 — — 11,359 Market - off-system sales 4,772 73 — 4,845 Transmission/Other 14,186 10,390 (4,289) 20,287 Revenue from contracts with customers $ 234,597 $ 400,019 $ (4,399) $ 630,217 Other revenues 807 2,500 (92) 3,215 Total Revenues $ 235,404 $ 402,519 $ (4,491) $ 633,432 Timing of Revenue Recognition: Services transferred at a point in time $ 6,976 $ — $ — $ 6,976 Services transferred over time 227,621 400,019 (4,399) 623,241 Revenue from contracts with customers $ 234,597 $ 400,019 $ (4,399) $ 630,217

Financing (Tables)

Financing (Tables)	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Schedule of Short-term Debt	We had the following Notes payable outstanding in the accompanying Condensed Consolidated Balance Sheets (in thousands) as of: March 31, 2022 December 31, 2021 Balance Outstanding Letters of Credit (a) Balance Outstanding Letters of Credit (a) Revolving Credit Facility — 16,855 — 27,209 CP Program 341,480 — 420,180 — Total Notes payable $ 341,480 $ 16,855 $ 420,180 $ 27,209 __________ (a) Letters of credit are off-balance sheet commitments that reduce the borrowing capacity available on our corporate Revolving Credit Facility.
Credit Facility and Short Term Debt Covenants	We were in compliance with our covenants at March 31, 2022 as shown below: As of March 31, 2022 Covenant Requirement Consolidated Indebtedness to Capitalization Ratio 61.0% Less than 65%

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Schedule of Earnings Per Share Reconciliation	A reconciliation of share amounts used to compute earnings per share in the accompanying Condensed Consolidated Statements of Income was as follows (in thousands, except per share amounts): Three Months Ended March 31, 2022 2021 Net income available for common stock $ 117,526 $ 96,316 Weighted average shares - basic 64,565 62,633 Dilutive effect of: Equity compensation 156 58 Weighted average shares - diluted 64,721 62,691 Earnings per share of common stock: Earnings per share, Basic $ 1.82 $ 1.54 Earnings per share, Diluted $ 1.82 $ 1.54
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following securities were excluded from the diluted earnings per share computation because of their anti-dilutive nature (in thousands): Three Months Ended March 31, 2022 2021 Equity compensation — 14 Restricted stock — 19 Anti-dilutive shares — 33

Risk Management and Derivativ_2

Risk Management and Derivatives (Tables)	3 Months Ended
	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Contract or notional amounts and terms of marketing activities and derivative commodity instruments	We had the following net long positions as of: March 31, 2022 December 31, 2021 Notional Maximum Term (months) (a) Notional Maximum Term (months) (a) Natural gas futures purchased — 0 590,000 3 Natural gas options purchased, net — 0 3,100,000 3 Natural gas basis swaps purchased — 0 870,000 3 Natural gas over-the-counter swaps, net (b) 2,750,000 33 4,570,000 34 Natural gas physical contracts, net (c) 4,181,531 21 16,416,677 24 __________ (a) Term reflects the maximum forward period hedged. (b) As of March 31, 2022, 410,000 MMBtus of natural gas over-the-counter swaps purchases were designated as cash flow hedges. (c) Volumes exclude derivative contracts that qualify for the normal purchases and normal sales exception permitted by GAAP.
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	The following table presents the fair value and balance sheet classification of our derivative instruments (in thousands) as of: Balance Sheet Location March 31, 2022 December 31, 2021 Derivatives designated as hedges: Asset derivative instruments: Current commodity derivatives Derivative assets, current $ 1,081 $ 2,017 Noncurrent commodity derivatives Other assets, non-current 11 18 Total derivatives designated as hedges $ 1,092 $ 2,035 Derivatives not designated as hedges: Asset derivative instruments: Current commodity derivatives Derivative assets, current $ 6,301 $ 2,356 Noncurrent commodity derivatives Other assets, non-current 596 804 Liability derivative instruments: Current commodity derivatives Derivative liabilities, current (191) (1,439) Noncurrent commodity derivatives Other deferred credits and other liabilities (29) (20) Total derivatives not designated as hedges $ 6,677 $ 1,701
Derivative Instruments, Gain (Loss)	The impacts of cash flow hedges on our Condensed Consolidated Statements of Comprehensive Income and Condensed Consolidated Statements of Income are presented below for the three months ended March 31, 2022 and 2021. Note that this presentation does not reflect the gains or losses arising from the underlying physical transactions; therefore, it is not indicative of the economic profit or loss we realized when the underlying physical and financial transactions were settled. Three Months Ended March 31, Three Months Ended March 31, Three Months Ended March 31, Three Months Ended March 31, 2022 2021 2022 2021 Derivatives in Cash Flow Hedging Relationships Amount of Gain/(Loss) Recognized in OCI Income Statement Location Amount of Gain/(Loss) Reclassified from AOCI into Income (in thousands) (in thousands) Interest rate swaps $ 713 $ 713 Interest expense $ (713) $ (713) Commodity derivatives (867) 173 Fuel, purchased power and cost of natural gas sold 2,254 (31) Total $ (154) $ 886 $ 1,541 $ (744) The following table summarizes the impacts of derivative instruments not designated as hedge instruments on our Condensed Consolidated Statements of Income for the three months ended March 31, 2022 and 2021. Note that this presentation does not reflect the expected gains or losses arising from the underlying physical transactions; therefore, it is not indicative of the economic profit or loss we realized when the underlying physical and financial transactions were settled. Three Months Ended March 31, Three Months Ended March 31, 2022 2021 Derivatives Not Designated as Hedging Instruments Income Statement Location Amount of Gain/(Loss) on Derivatives Recognized in Income (in thousands) Commodity derivatives - Electric Fuel, purchased power and cost of natural gas sold $ — $ (1,524) Commodity derivatives - Natural Gas Fuel, purchased power and cost of natural gas sold 3,494 366 $ 3,494 $ (1,158)

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Schedule of Fair Value Hierarchy, Measured on Recurring Basis	The commodity contracts for our Utilities segments are valued using the market approach and include forward strip pricing at liquid delivery points, exchange-traded futures, options, basis swaps and over-the-counter swaps and options (Level 2) for wholesale electric energy and natural gas contracts. For exchange-traded futures, options and basis swap assets and liabilities, fair value was derived using broker quotes validated by the exchange settlement pricing for the applicable contract. For over-the-counter instruments, the fair value is obtained by utilizing a nationally recognized service that obtains observable inputs to compute the fair value, which we validate by comparing our valuation with the counterparty. The fair value of these swaps includes a credit valuation adjustment based on the credit spreads of the counterparties when we are in an unrealized gain position or on our own credit spread when we are in an unrealized loss position. For additional information, see Note 1 of our Notes to the Consolidated Financial Statements in our 2021 Annual Report on Form 10-K. The following tables set forth, by level within the fair value hierarchy, our gross assets and gross liabilities and related offsetting of cash collateral and contractual netting rights as permitted by GAAP that were accounted for at fair value on a recurring basis for derivative instruments. As of March 31, 2022 Level 1 Level 2 Level 3 Cash Collateral and Counterparty Netting (a) Total (in thousands) Assets: Commodity derivatives — Gas Utilities $ — $ 7,989 $ — $ — $ 7,989 Total $ — $ 7,989 $ — $ — $ 7,989 Liabilities: Commodity derivatives — Gas Utilities $ — $ 220 $ — $ — $ 220 Total $ — $ 220 $ — $ — $ 220 __________ (a) As of March 31, 2022, we had no commodity derivative assets or liabilities, or related gross collateral amounts, that were subject to master netting agreements. As of December 31, 2021 Level 1 Level 2 Level 3 Cash Collateral and Counterparty Netting (a) Total (in thousands) Assets: Commodity derivatives — Gas Utilities $ — $ 7,569 $ — $ (2,374) $ 5,195 Total $ — $ 7,569 $ — $ (2,374) $ 5,195 Liabilities: Commodity derivatives — Gas Utilities $ — $ 3,273 $ — $ (1,814) $ 1,459 Total $ — $ 3,273 $ — $ (1,814) $ 1,459 __________ (a) As of December 31, 2021, $2.4 million of our commodity derivative assets and $1.8 million of our commodity derivative liabilities, as well as related gross collateral amounts, were subject to master netting agreements.
Fair Value, by Balance Sheet Grouping	The following table presents the carrying amounts and fair values of financial instruments not recorded at fair value on the Condensed Consolidated Balance Sheets (in thousands) as of: March 31, 2022 December 31, 2021 Carrying Fair Value Carrying Fair Value Long-term debt, including current maturities (a) $ 4,128,291 $ 4,201,135 $ 4,126,923 $ 4,570,619 __________ (a) Long-term debt is valued based on observable inputs available either directly or indirectly for similar liabilities in active markets and therefore is classified in Level 2 in the fair value hierarchy. Carrying amount of long-term debt is net of deferred financing costs.

Other Comprehensive Income (Tab

Other Comprehensive Income (Tables)	3 Months Ended
	Mar. 31, 2022
Statement of Comprehensive Income [Abstract]
Reclassification Out of Accumulated Other Comprehensive Income (Loss)	The following table details reclassifications out of AOCI and into Net income. The amounts in parentheses below indicate decreases to Net income in the Condensed Consolidated Statements of Income for the period, net of tax (in thousands): Location on the Condensed Consolidated Statements of Income Amount Reclassified from AOCI Three Months Ended March 31, 2022 2021 Gains and (losses) on cash flow hedges: Interest rate swaps Interest expense $ (713) $ (713) Commodity contracts Fuel, purchased power and cost of natural gas sold 2,254 (31) 1,541 (744) Income tax Income tax expense (375) 198 Total reclassification adjustments related to cash flow hedges, net of tax $ 1,166 $ (546) Amortization of components of defined benefit plans: Prior service cost Operations and maintenance $ 24 $ 25 Actuarial gain (loss) Operations and maintenance (188) (598) (164) (573) Income tax Income tax expense 39 208 Total reclassification adjustments related to defined benefit plans, net of tax $ (125) $ (365) Total reclassifications $ 1,041 $ (911)
Schedule of Accumulated Other Comprehensive Income (Loss)	Balances by classification included within AOCI, net of tax on the accompanying Condensed Consolidated Balance Sheets were as follows (in thousands): Derivatives Designated as Cash Flow Hedges Interest Rate Swaps Commodity Derivatives Employee Benefit Plans Total As of December 31, 2021 $ (10,384) $ 1,476 $ (11,176) $ (20,084) Other comprehensive income (loss) before reclassifications — 1,047 — 1,047 Amounts reclassified from AOCI 536 (1,702) 125 (1,041) As of March 31, 2022 $ (9,848) $ 821 $ (11,051) $ (20,078) Derivatives Designated as Cash Flow Hedges Interest Rate Swaps Commodity Derivatives Employee Benefit Plans Total As of December 31, 2020 $ (12,558) $ 2 $ (14,790) $ (27,346) Other comprehensive income (loss) before reclassifications — 107 — 107 Amounts reclassified from AOCI 523 23 365 911 As of March 31, 2021 $ (12,035) $ 132 $ (14,425) $ (26,328)

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	3 Months Ended
	Mar. 31, 2022
Retirement Benefits [Abstract]
Schedule of Net Benefit Costs	The components of net periodic expense were as follows (in thousands): Defined Benefit Pension Plan Supplemental Non-qualified Defined Benefit Plans Non-pension Defined Benefit Postretirement Healthcare Plan Three Months Ended March 31, 2022 2021 2022 2021 2022 2021 Service cost $ 982 $ 1,259 $ (392) $ 693 $ 492 $ 559 Interest cost 2,705 2,328 208 177 321 265 Expected return on plan assets (4,631) (5,219) — — (31) (34) Net amortization of prior service costs (17) — — — (72) (109) Recognized net actuarial loss 1,523 1,829 69 439 16 117 Net periodic expense (benefit) $ 562 $ 197 $ (115) $ 1,309 $ 726 $ 798
Schedule of Defined Benefit Plans Contributions	Contributions made in the first three months of 2022 and anticipated contributions for 2022 and 2023 are as follows (in thousands): Contributions Made Additional Contributions Contributions Three Months Ended March 31, 2022 Anticipated for 2022 Anticipated for 2023 Defined Benefit Pension Plan $ — $ 3,900 $ 3,200 Non-pension Defined Benefit Postretirement Healthcare Plan $ 1,276 $ 3,828 $ 4,761 Supplemental Non-qualified Defined Benefit and Defined Contribution Plans $ 539 $ 1,617 $ 2,215

Business Segment Information (T

Business Segment Information (Tables)	3 Months Ended
	Mar. 31, 2022
Segment Reporting Information, Additional Information [Abstract]
Schedule of Segment Reporting Information, by Segment	Segment information was as follows (in thousands): Total assets (net of intercompany eliminations) as of: March 31, 2022 December 31, 2021 Electric Utilities $ 3,804,335 $ 3,796,662 Gas Utilities 5,232,594 5,246,370 Corporate and Other 93,725 88,864 Total assets $ 9,130,654 $ 9,131,896 Three Months Ended March 31, 2022 External Operating Revenue Inter-company Operating Revenue Total Revenues Contract Customers Other Revenues Contract Customers Other Revenues Segment: Electric Utilities $ 202,739 $ 870 $ 2,929 $ — $ 206,538 Gas Utilities 619,030 931 1,319 112 621,392 Inter-company eliminations — — (4,248) (112) (4,360) Total $ 821,769 $ 1,801 $ — $ — $ 823,570 Three Months Ended March 31, 2021 External Operating Revenue Inter-company Operating Revenue Total Revenues Contract Customers Other Revenues Contract Customers Other Revenues Segment: Electric Utilities $ 231,718 $ 807 $ 2,879 $ — $ 235,404 Gas Utilities 398,499 2,408 1,520 92 402,519 Inter-company eliminations — — (4,399) (92) (4,491) Total $ 630,217 $ 3,215 $ — $ — $ 633,432 Three Months Ended March 31, 2022 2021 Operating income (loss): Electric Utilities $ 50,746 $ 39,343 Gas Utilities 123,540 102,094 Corporate and Other (933) (3,122) Operating income 173,353 138,315 Interest expense, net (38,545) (37,600) Other income, net 704 266 Income tax expense (14,488) (494) Net income 121,024 100,487 Net income attributable to non-controlling interest (3,498) (4,171) Net income available for common stock $ 117,526 $ 96,316

Selected Balance Sheet Inform_2

Selected Balance Sheet Information (Tables)	3 Months Ended
	Mar. 31, 2022
Selected Balance Sheet Information [Abstract]
Account Receivable Schedule	Following is a summary of Accounts receivable, net included in the accompanying Condensed Consolidated Balance Sheets (in thousands) as of: March 31, 2022 December 31, 2021 Billed Accounts Receivable $ 257,982 $ 181,027 Unbilled Revenue 130,294 142,738 Less: Allowance for Credit Losses (4,486) (2,113) Accounts Receivable, net $ 383,790 $ 321,652
Financing Receivable, Current, Allowance for Credit Loss	Changes to allowance for credit losses for the three months ended March 31, 2022 and 2021, respectively, were as follows (in thousands): Balance at Beginning of Year Additions Charged to Costs and Expenses Recoveries and Other Additions Write-offs and Other Deductions Balance at March 31, 2022 $ 2,113 $ 3,416 $ 655 $ (1,698) $ 4,486 2021 $ 7,003 $ 1,877 $ 1,014 $ (1,643) $ 8,251
Materials, Supplies, and Fuel Schedule	The following amounts by major classification are included in Materials, supplies and fuel on the accompanying Condensed Consolidated Balance Sheets (in thousands) as of: March 31, 2022 December 31, 2021 Materials and supplies $ 92,224 $ 86,400 Fuel - Electric Utilities 1,459 1,267 Natural gas in storage 14,549 63,312 Total materials, supplies and fuel $ 108,232 $ 150,979
Accrued Liabilities Schedule	The following amounts by major classification are included in Accrued liabilities on the accompanying Condensed Consolidated Balance Sheets (in thousands) as of: March 31, 2022 December 31, 2021 Accrued employee compensation, benefits and withholdings $ 51,032 $ 74,387 Accrued property taxes 53,389 50,874 Customer deposits and prepayments 39,543 48,814 Accrued interest 46,396 33,680 Other (none of which is individually significant) 36,849 37,004 Total accrued liabilities $ 227,209 $ 244,759

Regulatory Matters (Details)

Regulatory Matters (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Regulatory assets
Regulatory assets	$ 723,344	$ 796,599
Less current regulatory assets	(265,496)	(270,290)
Regulatory assets, non-current	457,848	526,309
Regulatory liabilities
Regulatory liabilities	535,184	502,951
Less current regulatory liabilities	(52,742)	(17,574)
Regulatory liabilities, non-current	482,442	485,377
Deferred energy and gas costs
Regulatory liabilities
Regulatory liabilities	38,343	6,113
Employee benefit plans and related deferred taxes
Regulatory liabilities
Regulatory liabilities	31,943	32,241
Cost of removal
Regulatory liabilities
Regulatory liabilities	181,690	179,976
Excess deferred income taxes
Regulatory liabilities
Regulatory liabilities	259,856	264,042
Other regulatory liabilities
Regulatory liabilities
Regulatory liabilities	23,352	20,579
Winter Storm Uri Incremental Costs in a Separately Tracked Mechanism
Regulatory assets
Regulatory assets	438,675	509,025
Deferred energy and gas costs
Regulatory assets
Regulatory assets	67,068	59,973
Deferred gas cost adjustments
Regulatory assets
Regulatory assets	1,917	9,488
Gas price derivatives
Regulatory assets
Regulatory assets	220	2,584
Deferred taxes on AFUDC
Regulatory assets
Regulatory assets	7,420	7,457
Employee benefit plans and related deferred taxes
Regulatory assets
Regulatory assets	87,947	88,923
Environmental
Regulatory assets
Regulatory assets	1,375	1,385
Loss on reacquired debt
Regulatory assets
Regulatory assets	20,561	21,011
Deferred taxes on flow through accounting
Regulatory assets
Regulatory assets	69,387	63,243
Decommissioning costs
Regulatory assets
Regulatory assets	5,339	5,961
Other regulatory assets
Regulatory assets
Regulatory assets	$ 23,435	$ 27,549

Regulatory Matters_ Winter Stor

Regulatory Matters: Winter Storm Uri (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021
Public Utilities, General Disclosures [Line Items]
Regulatory assets	$ 723,344	$ 796,599
Winter Storm Uri Incremental Costs in a Separately Tracked Mechanism
Public Utilities, General Disclosures [Line Items]
Regulatory assets	438,675	509,025
Winter Storm Uri
Public Utilities, General Disclosures [Line Items]
Amount Recovered Through Regulatory Mechanism	$ 73,000
Winter Storm Uri | Winter Storm Uri Incremental Costs in a Separately Tracked Mechanism
Public Utilities, General Disclosures [Line Items]
Regulatory assets		$ 546,000
Regulatory Asset, Amortization Period	3 years 1 month 6 days	3 years 6 months
Winter Storm Uri | Carrrying Costs
Public Utilities, General Disclosures [Line Items]
Regulatory assets	$ 2,300		$ 0

Regulatory Matters_ Tax Cut and

Regulatory Matters: Tax Cut and Jobs Act (Details) - Kansas Corporation Commission (KCC) - Kansas Gas - USD ($) $ in Thousands	Jan. 01, 2022	Mar. 31, 2022
Public Utilities, General Disclosures [Line Items]
Settlement of Plan to Provide TCJA and State Tax Reform benefits to Customers Annually	$ 3,000
Number of Years TCJA and State Tax Reform Benefits to be Provide to Customers	3 years
Settlement Total of Plan to Provide TCJA and State Tax Reform benefits to Customers	$ 9,100
Annual TCJA-Related Customer Billing Credits		$ 800

Regulatory Matters_ Rate Review

Regulatory Matters: Rate Review (Details) - Rate Review Filed with the Regulatory Agency - Arkansas Public Service Commission - Black Hills Energy, Arkansas $ in Thousands	Dec. 10, 2021USD ($)mi
Public Utilities, General Disclosures [Line Items]
Public Utilities - Length of Natural Gas Pipeline to Receive Infrastructure Investments | mi	7,200
Public Utilities, Requested Rate Increase (Decrease), Amount | $	$ 22,000
Public Utilities, Requested Equity Capital Structure, Percentage	50.90%
Public Utilities, Requested Debt Capital Structure, Percentage	49.10%
Public Utilities, Requested Return on Equity, Percentage	10.20%

Commitments, Contingencies an_2

Commitments, Contingencies and Guarantees: Power Sales Agreements (Details)	May 03, 2022MW
M D U, Montana Dakota Utilities | South Dakota Electric | Maximum | Subsequent Event
Unrecorded Unconditional Purchase Obligation [Line Items]
Number of Megawatts Sold Under Long-Term Contract	50

Commitments, Contingencies an_3

Commitments, Contingencies and Guarantees: GT Resources, LLC v Black Hills Corp (Details) - GT Resources, LLC - Subsequent Event - Pending Litigation $ in Thousands, a in Millions	Apr. 13, 2022USD ($)a
Loss Contingencies [Line Items]
Loss Contingency, Damages Awarded, Value | $	$ 41,000
Loss Contingency, Concession Award, Area | a	2.3

Commitments, Contingencies an_4

Commitments, Contingencies and Guarantees: Power Purchase Agreements (Details) - Solar - TC Colorado Solar, LLC - Colorado Electric	Feb. 19, 2021MW
Unrecorded Unconditional Purchase Obligation [Line Items]
Number of Megawatts Capacity Purchased	200
Purchase Power Agreement Set to Expire after a Certain Number of Years Following Completion of the Facility	15 years

Commitments, Contingencies an_5

Commitments, Contingencies and Guarantees - Transmission Service Agreements (Details)	Jan. 01, 2022MW
Colorado Electric | Tri-State Generation and Transmission Association
Unrecorded Unconditional Purchase Obligation [Line Items]
Number of Megawatts Sold Under Long-Term Contract	58
South Dakota Electric | Purchase Power Contract, MEAN
Unrecorded Unconditional Purchase Obligation [Line Items]
Number of Megawatts Sold Under Long-Term Contract	20

Revenue_ Disaggregation of Reve

Revenue: Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	$ 821,769	$ 630,217
Total revenues	823,570	633,432
Services transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	7,113	6,976
Services transferred over time
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	814,656	623,241
Other revenues
Disaggregation of Revenue [Line Items]
Total revenues	1,801	3,215
Retail - Electric , Natural Gas and Coal
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	733,819	545,885
Transportation
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	49,424	47,841
Wholesale
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	10,275	11,359
Market - off-system sales
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	7,392	4,845
Transmission/Other
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	20,859	20,287
Inter-company Revenues
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	(4,248)	(4,399)
Total revenues	(4,360)	(4,491)
Inter-company Revenues | Services transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
Inter-company Revenues | Services transferred over time
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	(4,248)	(4,399)
Inter-company Revenues | Other revenues
Disaggregation of Revenue [Line Items]
Total revenues	(112)	(92)
Inter-company Revenues | Retail - Electric , Natural Gas and Coal
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
Inter-company Revenues | Transportation
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	(99)	(110)
Inter-company Revenues | Wholesale
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
Inter-company Revenues | Market - off-system sales
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
Inter-company Revenues | Transmission/Other
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	(4,149)	(4,289)
Electric Utilities
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	205,668	234,597
Total revenues	206,538	235,404
Electric Utilities | Services transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	7,113	6,976
Electric Utilities | Services transferred over time
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	198,555	227,621
Electric Utilities | Other revenues
Disaggregation of Revenue [Line Items]
Total revenues	870	807
Electric Utilities | Retail - Electric , Natural Gas and Coal
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	172,806	204,280
Electric Utilities | Transportation
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
Electric Utilities | Wholesale
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	10,275	11,359
Electric Utilities | Market - off-system sales
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	7,154	4,772
Electric Utilities | Transmission/Other
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	15,433	14,186
Gas Utilities
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	620,349	400,019
Total revenues	621,392	402,519
Gas Utilities | Services transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
Gas Utilities | Services transferred over time
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	620,349	400,019
Gas Utilities | Other revenues
Disaggregation of Revenue [Line Items]
Total revenues	1,043	2,500
Gas Utilities | Retail - Electric , Natural Gas and Coal
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	561,013	341,605
Gas Utilities | Transportation
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	49,523	47,951
Gas Utilities | Wholesale
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
Gas Utilities | Market - off-system sales
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	238	73
Gas Utilities | Transmission/Other
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	$ 9,575	$ 10,390

Financing_ Schedule of Short-te

Financing: Schedule of Short-term Debt and Narrative (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Short-term Debt [Line Items]
Notes payable	$ 341,480	$ 420,180
Letters of Credit	16,855	27,209
Commercial Paper
Short-term Debt [Line Items]
Notes payable	341,480	420,180
Letters of Credit	0	0
Revolving Credit Facility
Short-term Debt [Line Items]
Notes payable	0	0
Letters of Credit	$ 16,855	$ 27,209

Financing_ Revolving Credit Fac

Financing: Revolving Credit Facility and CP Program (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Net borrowings (payments) of Revolving Credit Facility and CP Program	$ (78,700)	$ (18,170)
Commercial Paper
Short-term interest rate	0.79%

Financing_ Debt Covenants (Deta

Financing: Debt Covenants (Details)	Mar. 31, 2022
Line of Credit Facility [Line Items]
Consolidated Indebtedness to Capitalization Ratio	0.610
Maximum
Line of Credit Facility [Line Items]
Consolidated Indebtedness to Capitalization Ratio	0.65
Maximum | Wyoming Electric
Line of Credit Facility [Line Items]
Consolidated Indebtedness to Capitalization Ratio	0.60

Financing_ Equity (Details)

Financing: Equity (Details) - Common Stock $ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)shares
At The Market Equity Offering Program Shares Issued | shares	55,707
At The Market Equity Program Proceeds from Sale of Stock | $	$ 3.8

Earnings Per Share_ Earnings Pe

Earnings Per Share: Earnings Per Share Reconciliation (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Earnings Per Share [Abstract]
Net income available for common stock	$ 117,526	$ 96,316
Weighted average shares - basic (in shares)	64,565	62,633
Dilutive effect of:
Equity compensation (in shares)	156	58
Weighted average shares - diluted (in shares)	64,721	62,691
Earnings per share, Basic (usd per share)	$ 1.82	$ 1.54
Earnings per share, Diluted (usd per share)	$ 1.82	$ 1.54

Earnings Per Share_ Anti-diluti

Earnings Per Share: Anti-dilutive shares (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares (in shares)	0	33
Equity compensation - (in shares)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares (in shares)	0	14
Restricted Stock (in shares)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares (in shares)	0	19

Risk Management and Derivativ_3

Risk Management and Derivatives: Utilities (Details) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2022USD ($)MMBTU	Dec. 31, 2021MMBTU
Derivative [Line Items]
Credit Risk Derivative Liabilities, at Fair Value | $	$ 0.3
Natural Gas, Distribution | Cash Flow Hedging
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount	410,000
Natural Gas, Distribution | Natural gas futures purchased
Derivative [Line Items]
Derivative, Remaining Maturity	0 months	3 months
Natural Gas, Distribution | Natural gas futures purchased | Long
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount	0	590,000
Natural Gas, Distribution | Natural gas options purchased, net
Derivative [Line Items]
Derivative, Remaining Maturity	0 months	3 months
Natural Gas, Distribution | Natural gas options purchased, net | Long
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount	0	3,100,000
Natural Gas, Distribution | Natural gas basis swaps purchased
Derivative [Line Items]
Derivative, Remaining Maturity	0 months	3 months
Natural Gas, Distribution | Natural gas basis swaps purchased | Long
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount	0	870,000
Natural Gas, Distribution | Natural gas over-the-counter swaps, net
Derivative [Line Items]
Derivative, Remaining Maturity	33 months	34 months
Natural Gas, Distribution | Natural gas over-the-counter swaps, net | Long
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount	2,750,000	4,570,000
Natural Gas, Distribution | Natural gas physical contracts, net
Derivative [Line Items]
Derivative, Remaining Maturity	21 months	24 months
Natural Gas, Distribution | Natural gas physical contracts, net | Long
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount	4,181,531	16,416,677

Risk Management and Derivativ_4

Risk Management and Derivatives: Derivatives by Balance Sheet Classification (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Amount Not Offset Against Collateral	$ 1,092	$ 2,035
Commodity Contract | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Amount Not Offset Against Collateral	6,677	1,701
Derivative assets, current | Commodity Contract | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	1,081	2,017
Derivative assets, current | Commodity Contract | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	6,301	2,356
Other assets, non-current | Commodity Contract | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	11	18
Other assets, non-current | Commodity Contract | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	596	804
Derivative liabilities, current | Commodity Contract | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability	(191)	(1,439)
Other deferred credits and other liabilities | Commodity Contract | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability	$ (29)	$ (20)

Risk Management and Derivativ_5

Risk Management and Derivatives: Cash Flow Hedges (Details) - Cash Flow Hedging - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Interest Rate Swap and Commodity Derivative
Derivative [Line Items]
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months	$ 1,800
Designated as Hedging Instrument
Derivative [Line Items]
Unrealized Gain (Loss) on Cash Flow Hedging Instruments	(154)	$ 886
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	1,541	(744)
Designated as Hedging Instrument | Interest rate swaps
Derivative [Line Items]
Unrealized Gain (Loss) on Cash Flow Hedging Instruments	713	713
Designated as Hedging Instrument | Interest rate swaps | Interest Expense
Derivative [Line Items]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	(713)	(713)
Designated as Hedging Instrument | Commodity Contract
Derivative [Line Items]
Unrealized Gain (Loss) on Cash Flow Hedging Instruments	(867)	173
Designated as Hedging Instrument | Commodity Contract | Fuel, purchased power and cost of natural gas sold
Derivative [Line Items]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	$ 2,254	$ (31)

Risk Management and Derivativ_6

Risk Management and Derivatives: Derivatives Not Designated as Hedge Instruments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Derivative [Line Items]
Regulatory assets	$ 723,344		$ 796,599
Gas price derivatives
Derivative [Line Items]
Regulatory assets	220		$ 2,584
Not Designated as Hedging Instrument
Derivative [Line Items]
Derivative, Gain (Loss) on Derivative, Net	3,494	$ (1,158)
Not Designated as Hedging Instrument | Fuel, purchased power and cost of natural gas sold | Electricity
Derivative [Line Items]
Derivative, Gain (Loss) on Derivative, Net	0	(1,524)
Not Designated as Hedging Instrument | Fuel, purchased power and cost of natural gas sold | Natural Gas
Derivative [Line Items]
Derivative, Gain (Loss) on Derivative, Net	$ 3,494	$ 366

Fair Value Measurements_ Schedu

Fair Value Measurements: Schedule of Fair Values (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
ContractSubjecttoMasterNetting
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset, Fair Value, Gross Asset	$ 0	$ 2,400
Derivative Liability, Fair Value, Gross Liability	0	1,800
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset	0	(2,374)
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset	0	(1,814)
Fair Value, Measurements, Recurring | Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets, Total	7,989	5,195
Derivative Liabilities, Total	220	1,459
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets, Total	0	0
Derivative Liabilities, Total	0	0
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets, Total	7,989	7,569
Derivative Liabilities, Total	220	3,273
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets, Total	0	0
Derivative Liabilities, Total	0	0
Fair Value, Measurements, Recurring | Gas Utilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset	0	(2,374)
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset	0	(1,814)
Fair Value, Measurements, Recurring | Gas Utilities | Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets, Commodity Derivatives	7,989	5,195
Derivative Liabilities, Fair Value Disclosure	220	1,459
Fair Value, Measurements, Recurring | Gas Utilities | Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets, Commodity Derivatives	0	0
Derivative Liabilities, Fair Value Disclosure	0	0
Fair Value, Measurements, Recurring | Gas Utilities | Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets, Commodity Derivatives	7,989	7,569
Derivative Liabilities, Fair Value Disclosure	220	3,273
Fair Value, Measurements, Recurring | Gas Utilities | Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets, Commodity Derivatives	0	0
Derivative Liabilities, Fair Value Disclosure	$ 0	$ 0

Fair Value Measurements_ Other

Fair Value Measurements: Other Fair Value Measurements (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term Debt	$ 4,128,291	$ 4,126,923
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term Debt	$ 4,201,135	$ 4,570,619

Other Comprehensive Income_ Rec

Other Comprehensive Income: Reclassification Out of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Condensed Statement of Income Captions [Line Items]
Interest Expense	$ 38,821	$ 37,825
Fuel, purchased power and cost of natural gas sold	436,926	293,147
Operations and maintenance	136,132	129,679
Income tax benefit (expense)	(14,488)	(494)
Net income (loss)	121,024	100,487
Reclassification out of Accumulated Other Comprehensive Income
Condensed Statement of Income Captions [Line Items]
Net income (loss)	1,041	(911)
Cash Flow Hedging | Reclassification out of Accumulated Other Comprehensive Income
Condensed Statement of Income Captions [Line Items]
Income before Income Taxes	1,541	(744)
Income tax benefit (expense)	(375)	198
Net income (loss)	1,166	(546)
Cash Flow Hedging | Reclassification out of Accumulated Other Comprehensive Income | Interest rate swaps
Condensed Statement of Income Captions [Line Items]
Interest Expense	(713)	(713)
Cash Flow Hedging | Reclassification out of Accumulated Other Comprehensive Income | Commodity Contract
Condensed Statement of Income Captions [Line Items]
Fuel, purchased power and cost of natural gas sold	2,254	(31)
Accumulated Defined Benefit Plans Adjustment, Net Prior Service Cost | Reclassification out of Accumulated Other Comprehensive Income
Condensed Statement of Income Captions [Line Items]
Operations and maintenance	24	25
Accumulated Defined Benefit Plans Adjustment, Net Unamortized Gain (Loss) | Reclassification out of Accumulated Other Comprehensive Income
Condensed Statement of Income Captions [Line Items]
Operations and maintenance	(188)	(598)
Accumulated Defined Benefit Plans Adjustment | Reclassification out of Accumulated Other Comprehensive Income
Condensed Statement of Income Captions [Line Items]
Income before Income Taxes	(164)	(573)
Income tax benefit (expense)	39	208
Net income (loss)	$ (125)	$ (365)

Other Comprehensive Income_ Acc

Other Comprehensive Income: Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Accumulated Other Comprehensive Income (Loss), Net of Tax, Period Start	$ (20,084)	$ (27,346)
Accumulated Other Comprehensive Income (Loss), Net of Tax, Period End	(20,078)	(26,328)
Accumulated Defined Benefit Plans Adjustment
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Accumulated Other Comprehensive Income (Loss), Net of Tax, Period Start	(11,176)	(14,790)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	0	0
Accumulated Other Comprehensive Income (Loss), Net of Tax, Period End	(11,051)	(14,425)
Accumulated Defined Benefit Plans Adjustment | Reclassification out of Accumulated Other Comprehensive Income
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	125	365
Accumulated Other Comprehensive Income (loss)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	1,047	107
Accumulated Other Comprehensive Income (loss) | Reclassification out of Accumulated Other Comprehensive Income
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	(1,041)	911
Interest Rate Swaps | Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Accumulated Other Comprehensive Income (Loss), Net of Tax, Period Start	(10,384)	(12,558)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	0	0
Accumulated Other Comprehensive Income (Loss), Net of Tax, Period End	(9,848)	(12,035)
Interest Rate Swaps | Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent | Reclassification out of Accumulated Other Comprehensive Income
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	536	523
Commodity Contract | Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Accumulated Other Comprehensive Income (Loss), Net of Tax, Period Start	1,476	2
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	1,047	107
Accumulated Other Comprehensive Income (Loss), Net of Tax, Period End	821	132
Commodity Contract | Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent | Reclassification out of Accumulated Other Comprehensive Income
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	$ (1,702)	$ 23

Employee Benefit Plans (Details

Employee Benefit Plans (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Defined Benefit Pension Plans
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Defined Benefit Plan, Service Cost	$ 982	$ 1,259
Interest cost	2,705	2,328
Expected return on plan assets	(4,631)	(5,219)
Prior service cost (benefit)	(17)	0
Net loss (gain)	1,523	1,829
Net periodic benefit cost	562	197
Payment for Pension and Other Postretirement Benefits [Abstract]
Contributions by Employer	0
Estimated Future Employer Contributions in Current Fiscal Year	3,900
Estimated Future Employer Contributions in Next Fiscal Year	3,200
Other Postretirement Benefits Plan
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Defined Benefit Plan, Service Cost	492	559
Interest cost	321	265
Expected return on plan assets	(31)	(34)
Prior service cost (benefit)	(72)	(109)
Net loss (gain)	16	117
Net periodic benefit cost	726	798
Payment for Pension and Other Postretirement Benefits [Abstract]
Contributions by Employer	1,276
Estimated Future Employer Contributions in Current Fiscal Year	3,828
Estimated Future Employer Contributions in Next Fiscal Year	4,761
Supplemental Non-qualified Defined Benefit and Defined Contribution Plans
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Defined Benefit Plan, Service Cost	(392)	693
Interest cost	208	177
Net loss (gain)	69	439
Net periodic benefit cost	(115)	$ 1,309
Payment for Pension and Other Postretirement Benefits [Abstract]
Contributions by Employer	539
Estimated Future Employer Contributions in Current Fiscal Year	1,617
Estimated Future Employer Contributions in Next Fiscal Year	$ 2,215

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income tax benefit (expense)	$ (14,488)	$ (494)
Effective Tax Rate	10.70%	0.50%
Colorado Electric
Effective Income Tax Rate Reconciliation Tax Cuts And Jobs Act Of 2017 Amount, Tax Benefit from Bill Credit	$ 7,600

Business Segment Information_ (

Business Segment Information: (Details)	9 Months Ended
	Sep. 30, 2021credit_extension
Segment Reporting Information, Additional Information [Abstract]
Number of Operating Segments	4

Business Segment Information_ S

Business Segment Information: Segment and Corporate Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	$ 9,130,654	$ 9,131,896
Corporate and Other
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	93,725	88,864
Electric Utilities
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	3,804,335	3,796,662
Gas Utilities
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	$ 5,232,594	$ 5,246,370

Business Segment Information_ I

Business Segment Information: Information Relating to Segment Statement of Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Segment Reporting Information
Revenue from contracts with customers	$ 821,769	$ 630,217
Revenues	823,570	633,432
Operating income	173,353	138,315
Interest expense, net	(38,545)	(37,600)
Other income, net	704	266
Income tax expense	(14,488)	(494)
Net income	121,024	100,487
Net income attributable to non-controlling interest	(3,498)	(4,171)
Net income available for common stock	117,526	96,316
Inter-company Revenues
Segment Reporting Information
Revenue from contracts with customers	(4,248)	(4,399)
Revenues	(4,360)	(4,491)
Consolidation, Eliminations
Segment Reporting Information
Revenue from contracts with customers	0	0
Corporate and Other
Segment Reporting Information
Operating income	(933)	(3,122)
Electric Utilities
Segment Reporting Information
Revenue from contracts with customers	205,668	234,597
Revenues	206,538	235,404
Operating income	50,746	39,343
Gas Utilities
Segment Reporting Information
Revenue from contracts with customers	620,349	400,019
Revenues	621,392	402,519
Operating income	123,540	102,094
Other revenues
Segment Reporting Information
Revenues	1,801	3,215
Other revenues | Inter-company Revenues
Segment Reporting Information
Revenues	(112)	(92)
Other revenues | Consolidation, Eliminations
Segment Reporting Information
Revenues	0	0
Other revenues | Electric Utilities
Segment Reporting Information
Revenues	870	807
Other revenues | Gas Utilities
Segment Reporting Information
Revenues	1,043	2,500
External Customers
Segment Reporting Information
Revenue from contracts with customers	821,769	630,217
External Customers | Electric Utilities
Segment Reporting Information
Revenue from contracts with customers	202,739	231,718
External Customers | Gas Utilities
Segment Reporting Information
Revenue from contracts with customers	619,030	398,499
External Customers | Other revenues
Segment Reporting Information
Revenues	1,801	3,215
External Customers | Other revenues | Electric Utilities
Segment Reporting Information
Revenues	870	807
External Customers | Other revenues | Gas Utilities
Segment Reporting Information
Revenues	931	2,408
Intercompany Customers | Electric Utilities
Segment Reporting Information
Revenue from contracts with customers	2,929	2,879
Intercompany Customers | Gas Utilities
Segment Reporting Information
Revenue from contracts with customers	1,319	1,520
Intercompany Customers | Other revenues | Electric Utilities
Segment Reporting Information
Revenues	0	0
Intercompany Customers | Other revenues | Gas Utilities
Segment Reporting Information
Revenues	$ 112	$ 92

Selected Balance Sheet Inform_3

Selected Balance Sheet Information: Accounts Receivable (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Selected Balance Sheet Information [Abstract]
Billed Accounts Receivable	$ 257,982	$ 181,027
Unbilled Revenue	130,294	142,738
Less: Allowance for Credit Losses	(4,486)	(2,113)	$ (8,251)	$ (7,003)
Accounts receivable, net	$ 383,790	$ 321,652

Selected Balance Sheet Inform_4

Selected Balance Sheet Information: Changes to Allowance for Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Selected Balance Sheet Information [Abstract]
Balance at Beginning of Year	$ 2,113	$ 7,003
Additions Charged to Costs and Expenses	3,416	1,877
Recoveries and Other Additions	655	1,014
Write-offs and Other Deductions	(1,698)	(1,643)
Balance at End of Year	$ 4,486	$ 8,251

Selected Balance Sheet Inform_5

Selected Balance Sheet Information: Materials and Supplies (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Selected Balance Sheet Information [Abstract]
Materials and supplies	$ 92,224	$ 86,400
Fuel - Electric Utilities	1,459	1,267
Natural gas in storage	14,549	63,312
Total materials, supplies and fuel	$ 108,232	$ 150,979

Selected Balance Sheet Inform_6

Selected Balance Sheet Information: Accrued Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Selected Balance Sheet Information [Abstract]
Accrued employee compensation, benefits and withholdings	$ 51,032	$ 74,387
Accrued property taxes	53,389	50,874
Customer deposits and prepayments	39,543	48,814
Accrued interest	46,396	33,680
Other (none of which is individually significant)	36,849	37,004
Total accrued liabilities	$ 227,209	$ 244,759