Document_and_Entity_Informatio
Document and Entity Information Document (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Feb. 06, 2015 | Jun. 30, 2014 | |
Entity Information [Line Items] | |||
Entity Registrant Name | NORTHWESTERN CORPORATION | ||
Entity Central Index Key | 73088 | ||
Current Fiscal Year End Date | -19 | ||
Entity Filer Category | Large Accelerated Filer | ||
Document Type | 10-K | ||
Document Period End Date | 31-Dec-14 | ||
Document Fiscal Year Focus | 2014 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | FALSE | ||
Entity Common Stock, Shares Outstanding | 46,933,953 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Public Float | $2,042,683,000 |
CONSOLIDATED_STATEMENTS_OF_INC
CONSOLIDATED STATEMENTS OF INCOME (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Revenues | |||
Electric | $877,967 | $865,239 | $805,554 |
Gas | 326,896 | 287,605 | 263,394 |
Other | 0 | 1,675 | 1,394 |
Total Revenues | 1,204,863 | 1,154,519 | 1,070,342 |
Operating Expenses | |||
Cost of sales | 482,591 | 479,546 | 395,434 |
Operating, general and administrative | 305,886 | 285,569 | 269,966 |
Mountain States Transmission Intertie impairment | 0 | 0 | 24,039 |
Property and other taxes | 114,592 | 105,540 | 97,674 |
Depreciation and depletion | 123,776 | 112,831 | 106,044 |
Total Operating Expenses | 1,026,845 | 983,486 | 893,157 |
Operating Income | 178,018 | 171,033 | 177,185 |
Interest Expense | -77,802 | -70,486 | -65,062 |
Other Income | 10,198 | 7,737 | 4,372 |
Income Before Income Taxes | 110,414 | 108,284 | 116,495 |
Income Tax Benefit (Expense) | 10,272 | -14,301 | -18,089 |
Net Income | $120,686 | $93,983 | $98,406 |
Average Common Shares Outstanding | 40,156,177 | 38,144,852 | 36,847,427 |
Basic Earnings per Average Common Share | $3.01 | $2.46 | $2.67 |
Diluted Earnings per Average Common Share | $2.99 | $2.46 | $2.66 |
CONSOLIDATED_STATEMENTS_OF_COM
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Net Income | $120,686 | $93,983 | $98,406 |
Other comprehensive (loss) income, net of tax: | |||
Reclassification of net gains on derivative instruments to net income | -684 | -730 | -732 |
Realized loss on cash flow hedging activities | -11,145 | 0 | 0 |
Postretirement medical liability adjustment | 82 | 963 | -553 |
Foreign currency translation | 265 | 166 | -54 |
Total Other Comprehensive Income (Loss) | -11,482 | 399 | -1,339 |
Comprehensive Income | $109,204 | $94,382 | $97,067 |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
OPERATING ACTIVITIES: | |||
Net Income | $120,686 | $93,983 | $98,406 |
Items not affecting cash: | |||
Depreciation and depletion | 123,776 | 112,831 | 106,044 |
Amortization of debt issue costs, discount and deferred hedge gain | 5,033 | 2,039 | 369 |
Amortization of nonvested shares | 3,262 | 2,404 | 2,759 |
Equity portion of allowance for funds used during construction | -6,554 | -5,050 | -4,846 |
Gain on disposition of assets | -1,330 | -721 | -332 |
Deferred income taxes | -9,612 | 54,617 | 51,890 |
Mountain States Transmission Intertie impairment | 0 | 0 | 24,039 |
Gain on CELP arbitration decision | 0 | 0 | -47,894 |
Changes in current assets and liabilities: | |||
Restricted cash | -6,408 | -196 | 6,016 |
Accounts receivable | 12,622 | -30,792 | 3,456 |
Inventories | 747 | 181 | 5,371 |
Other current assets | 4,201 | -2,940 | -1,856 |
Accounts payable | -9,565 | 6,235 | 10,976 |
Accrued expenses | 8,530 | 1,949 | 14,149 |
Regulatory assets | -8,952 | -2,846 | -6,285 |
Regulatory liabilities | 9,763 | -2,019 | 15,241 |
Other noncurrent assets | 2,853 | -43,714 | -27,362 |
Other noncurrent liabilities | 987 | 7,755 | 1,052 |
Cash provided by operating activities | 250,039 | 193,716 | 251,193 |
INVESTING ACTIVITIES: | |||
Property, plant, and equipment additions | -270,384 | -230,454 | -219,234 |
Acquisitions | -903,573 | -68,666 | -103,241 |
Proceeds from sale of assets | 1,535 | 3,766 | 262 |
Change in restricted cash | -16,358 | 0 | 0 |
Investment in New Market Tax Credit program | -18,169 | 0 | 0 |
Cash used in investing activities | -1,206,949 | -295,354 | -322,213 |
FINANCING ACTIVITIES: | |||
Dividends on common stock | -65,019 | -57,684 | -54,246 |
Proceeds from issuance of common stock, net | 399,207 | 56,825 | 28,477 |
Issuance of long-term debt | 505,789 | 100,000 | 150,000 |
Repayment of long-term debt | -90 | -149 | -3,945 |
Issuances (repayments) of short-term borrowings, net | 126,890 | 18,016 | -44,000 |
Treasury stock activity | -814 | -1,042 | -429 |
Financing costs | -5,248 | -7,593 | -943 |
Cash provided by financing activities | 960,715 | 108,373 | 74,914 |
Increase in Cash and Cash Equivalents | 3,805 | 6,735 | 3,894 |
Cash and Cash Equivalents, beginning of period | 16,557 | 9,822 | 5,928 |
Cash and Cash Equivalents, end of period | $20,362 | $16,557 | $9,822 |
CONSOLIDATED_BALANCE_SHEETS
CONSOLIDATED BALANCE SHEETS (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Current Assets: | ||
Cash and cash equivalents | $20,362 | $16,557 |
Restricted cash | 29,662 | 6,896 |
Accounts receivable, net | 163,479 | 174,913 |
Inventories | 55,094 | 55,609 |
Regulatory assets | 47,374 | 37,719 |
Deferred income taxes | 20,843 | 14,301 |
Other | 14,071 | 14,961 |
Total current assets | 350,885 | 320,956 |
Property, plant, and equipment, net | 3,758,008 | 2,690,128 |
Goodwill | 355,128 | 355,128 |
Regulatory assets | 455,757 | 316,952 |
Other noncurrent assets | 54,165 | 32,096 |
Total assets | 4,973,943 | 3,715,260 |
Current Liabilities: | ||
Current maturities of capital leases | 1,730 | 1,662 |
Short-term borrowings | 267,840 | 140,950 |
Accounts payable | 81,961 | 92,957 |
Accrued expenses | 206,882 | 181,613 |
Regulatory liabilities | 56,169 | 46,406 |
Total current liabilities | 614,582 | 463,588 |
Long-term capital leases | 28,162 | 29,895 |
Long-term debt | 1,662,099 | 1,155,097 |
Deferred income taxes | 446,600 | 395,333 |
Noncurrent regulatory liabilities | 362,228 | 348,053 |
Other noncurrent liabilities | 382,489 | 292,624 |
Total liabilities | 3,496,160 | 2,684,590 |
Commitments and Contingencies (Note 20) | ||
Shareholders' Equity: | ||
Common stock, par value $0.01; authorized 200,000,000 shares; issued and outstanding 50,522,280 and 46,914,811 respectively; Preferred stock, par value $0.01; authorized 50,000,000 shares; none issued | 505 | 423 |
Treasury stock at cost | -92,558 | -91,744 |
Paid-in capital | 1,313,844 | 910,184 |
Retained earnings | 264,758 | 209,091 |
Accumulated other comprehensive income | -8,766 | 2,716 |
Total shareholders' equity | 1,477,783 | 1,030,670 |
Total liabilities and shareholders' equity | $4,973,943 | $3,715,260 |
CONSOLIDATED_BALANCE_SHEETS_PA
CONSOLIDATED BALANCE SHEETS PARENTHETICAL (Parentheticals) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Common stock, par or stated value per share | $0.01 | $0.01 |
Common stock, shares authorized | 200,000,000 | 200,000,000 |
Common Stock, shares issued | 50,522,280 | 42,340,173 |
Common Stock, shares outstanding | 46,914,811 | 38,745,624 |
Preferred stock, par or stated value per share | $0.01 | $0.01 |
Preferred stock, shares authorized | 50,000,000 | 50,000,000 |
Preferred Stock, shares issued | 0 | 0 |
CONSOLIDATED_STATEMENTS_OF_COM1
CONSOLIDATED STATEMENTS OF COMMON SHAREHOLDERS' EQUITY (USD $) | Total | Common Stock | Paid-in Capital | Treasury Stock | Retained Earnings | Accumulated Other Comprehensive Income |
In Thousands, except Share data, unless otherwise specified | ||||||
Balance at Dec. 31, 2011 | $859,112 | $398 | $816,700 | ($90,273) | $128,631 | $3,656 |
Shares, Balance at Dec. 31, 2011 | 39,841,000 | 3,563,000 | ||||
Increase (Decrease) in Shareholders' Equity [Roll Forward] | ||||||
Net Income | 98,406 | 0 | 0 | 0 | 98,406 | 0 |
Other comprehensive income: | ||||||
Foreign currency translation adjustment | -54 | 0 | 0 | 0 | 0 | -54 |
Reclassification of net gains on derivative instruments from OCI to net income, net of tax | -732 | 0 | 0 | 0 | 0 | -732 |
Realized loss on cash flow hedging activities | 0 | |||||
Postretirement medical liability adjustment | -553 | 0 | 0 | 0 | 0 | -553 |
Stock based compensation, value | 3,133 | 1 | 3,925 | -793 | 0 | 0 |
Stock based compensation, shares | 136,000 | 22,000 | ||||
Issuance of shares, value | 28,966 | 9 | 28,593 | 0 | 0 | |
Issuance of shares, shares | 815,000 | |||||
Issuance of shares, value, treasury stock reissued | 364 | |||||
Issuance of shares, shares, treasury stock reissued | -14,000 | |||||
Dividends on common stock | -54,246 | 0 | 0 | 0 | -54,246 | 0 |
Dividends per share | $1.48 | |||||
Balance at Dec. 31, 2012 | 934,032 | 408 | 849,218 | -90,702 | 172,791 | 2,317 |
Shares, Balance at Dec. 31, 2012 | 40,792,000 | 3,571,000 | ||||
Increase (Decrease) in Shareholders' Equity [Roll Forward] | ||||||
Net Income | 93,983 | 0 | 0 | 0 | 93,983 | 0 |
Other comprehensive income: | ||||||
Foreign currency translation adjustment | 166 | 0 | 0 | 0 | 0 | 166 |
Reclassification of net gains on derivative instruments from OCI to net income, net of tax | -730 | 0 | 0 | 0 | 0 | -730 |
Realized loss on cash flow hedging activities | 0 | |||||
Postretirement medical liability adjustment | 963 | 0 | 0 | 0 | 0 | 963 |
Stock based compensation, value | 2,663 | 1 | 3,987 | -1,325 | 0 | 0 |
Stock based compensation, shares | 167,000 | 35,000 | ||||
Issuance of shares, value | 57,276 | 14 | 56,979 | 0 | 0 | |
Issuance of shares, shares | 1,381,000 | |||||
Issuance of shares, value, treasury stock reissued | 283 | |||||
Issuance of shares, shares, treasury stock reissued | -11,000 | |||||
Dividends on common stock | -57,683 | 0 | 0 | 0 | -57,683 | 0 |
Dividends per share | $1.52 | |||||
Balance at Dec. 31, 2013 | 1,030,670 | 423 | 910,184 | -91,744 | 209,091 | 2,716 |
Shares, Balance at Dec. 31, 2013 | 42,340,000 | 3,595,000 | ||||
Increase (Decrease) in Shareholders' Equity [Roll Forward] | ||||||
Net Income | 120,686 | 0 | 0 | 0 | 120,686 | 0 |
Other comprehensive income: | ||||||
Foreign currency translation adjustment | 265 | 0 | 0 | 0 | 0 | 265 |
Reclassification of net gains on derivative instruments from OCI to net income, net of tax | -684 | 0 | 0 | 0 | 0 | -684 |
Realized loss on cash flow hedging activities | -11,145 | -11,145 | ||||
Postretirement medical liability adjustment | 82 | 0 | 0 | 0 | 0 | 82 |
Stock based compensation, value | 3,423 | 0 | 4,288 | -865 | 0 | 0 |
Stock based compensation, shares | 119,000 | 12,000 | ||||
Issuance of shares, value | 399,505 | 82 | 399,372 | 0 | 0 | |
Issuance of shares, shares | 8,063,000 | |||||
Issuance of shares, value, treasury stock reissued | 51 | |||||
Issuance of shares, shares, treasury stock reissued | 0 | |||||
Dividends on common stock | -65,019 | 0 | 0 | 0 | -65,019 | 0 |
Dividends per share | $1.60 | |||||
Balance at Dec. 31, 2014 | $1,477,783 | $505 | $1,313,844 | ($92,558) | $264,758 | ($8,766) |
Shares, Balance at Dec. 31, 2014 | 50,522,000 | 3,607,000 |
Nature_of_Operations_and_Basis
Nature of Operations and Basis of Consolidation | 12 Months Ended |
Dec. 31, 2014 | |
Nature of Operations and Basis of Consolidation [Abstract] | |
Nature of Operations and Basis of Consolidation | Nature of Operations and Basis of Consolidation |
NorthWestern Corporation, doing business as NorthWestern Energy, provides electricity and natural gas to approximately 692,600 customers in Montana, South Dakota and Nebraska. We have generated and distributed electricity in South Dakota and distributed natural gas in South Dakota and Nebraska since 1923 and have generated and distributed electricity and distributed natural gas in Montana since 2002. | |
The Consolidated Financial Statements for the periods included herein have been prepared by NorthWestern Corporation (NorthWestern, we or us), pursuant to the rules and regulations of the SEC. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that may affect the reported amounts of assets, liabilities, revenues and expenses during the reporting period. Actual results could differ from those estimates. The accompanying Consolidated Financial Statements include our accounts together with those of our wholly and majority-owned or controlled subsidiaries. All intercompany balances and transactions have been eliminated from the Consolidated Financial Statements. Events occurring subsequent to December 31, 2014, have been evaluated as to their potential impact to the Consolidated Financial Statements through the date of issuance. Our November 2014 acquisition of hydro generating assets is included in the results of operations for the year ended December 31, 2014, and impacts the comparability of the current year financial statements to prior years. For a further discussion of this acquisition, see Note 3 - Hydro Transaction. | |
Variable Interest Entities | |
A reporting company is required to consolidate a variable interest entity (VIE) as its primary beneficiary, which means it has a controlling financial interest, when it has both the power to direct the activities of the VIE that most significantly impact the VIE's economic performance, and the obligation to absorb losses or the right to receive benefits from the VIE that could potentially be significant to the VIE. An entity is considered to be a VIE when its total equity investment at risk is not sufficient to permit the entity to finance its activities without additional subordinated financial support, or its equity investors, as a group, lack the characteristics of having a controlling financial interest. The determination of whether a company is required to consolidate an entity is based on, among other things, an entity's purpose and design and a company's ability to direct the activities of the entity that most significantly impact the entity's economic performance. | |
Certain long-term purchase power and tolling contracts may be considered variable interests. We have various long-term purchase power contracts with other utilities and certain QF plants. We identified one QF contract that may constitute a VIE. We entered into a power purchase contract in 1984 with this 35 MW coal-fired QF to purchase substantially all of the facility's capacity and electrical output over a substantial portion of its estimated useful life. We absorb a portion of the facility's variability through annual changes to the price we pay per MWH (energy payment). After making exhaustive efforts, we have been unable to obtain the information from the facility necessary to determine whether the facility is a VIE or whether we are the primary beneficiary of the facility. The contract with the facility contains no provision which legally obligates the facility to release this information. We have accounted for this QF contract as an executory contract. Based on the current contract terms with this QF, our estimated gross contractual payments aggregate approximately $262.9 million through 2024. For further discussion of our gross QF liability, see Note 20 - Commitments and Contingencies. During the years ended December 31, 2014, 2013 and 2012 purchases from this QF were approximately $24.4 million, $23.8 million, and $21.0 million, respectively. |
Significant_Accounting_Policie
Significant Accounting Policies | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Accounting Policies [Abstract] | ||||||||||||
Significant Accounting Policies | Significant Accounting Policies | |||||||||||
Use of Estimates | ||||||||||||
The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Estimates are used for such items as long-lived asset values and impairment charges, long-lived asset useful lives, tax provisions, asset retirement obligations, uncollectible accounts, our QF liability, environmental costs, unbilled revenues and actuarially determined benefit costs. We revise the recorded estimates when we receive better information or when we can determine actual amounts. Those revisions can affect operating results. | ||||||||||||
Revenue Recognition | ||||||||||||
Customers are billed monthly on a cycle basis. To match revenues with associated expenses, we accrue unbilled revenues for electrical and natural gas services delivered to customers, but not yet billed at month-end. | ||||||||||||
Cash Equivalents | ||||||||||||
We consider all highly liquid investments with maturities of three months or less at the time of purchase to be cash equivalents. | ||||||||||||
Restricted Cash | ||||||||||||
Restricted cash consists primarily of funds held in trust accounts to satisfy the requirements of certain stipulation agreements and insurance reserve requirements. | ||||||||||||
Accounts Receivable, Net | ||||||||||||
Accounts receivable are net of allowances for uncollectible accounts of $4.3 million and $4.5 million at December 31, 2014 and December 31, 2013, respectively. Receivables include unbilled revenues of $70.3 million and $74.3 million at December 31, 2014 and December 31, 2013, respectively. | ||||||||||||
Inventories | ||||||||||||
Inventories are stated at average cost. Inventory consisted of the following (in thousands): | ||||||||||||
December 31, | ||||||||||||
2014 | 2013 | |||||||||||
Materials and supplies | $ | 30,672 | $ | 28,263 | ||||||||
Storage gas and fuel | 24,422 | 27,346 | ||||||||||
$ | 55,094 | $ | 55,609 | |||||||||
Regulation of Utility Operations | ||||||||||||
Our regulated operations are subject to the provisions of ASC 980. Regulated accounting is appropriate provided that (i) rates are established by or subject to approval by independent, third-party regulators, (ii) rates are designed to recover the specific enterprise's cost of service, and (iii) in view of demand for service, it is reasonable to assume that rates are set at levels that will recover costs and can be charged to and collected from customers. | ||||||||||||
Our Consolidated Financial Statements reflect the effects of the different rate making principles followed by the jurisdictions regulating us. The economic effects of regulation can result in regulated companies recording costs that have been, or are expected to be, allowed in the ratemaking process in a period different from the period in which the costs would be charged to expense by an unregulated enterprise. When this occurs, costs are deferred as regulatory assets and recorded as expenses in the periods when those same amounts are reflected in rates. Additionally, regulators can impose liabilities upon a regulated company for amounts previously collected from customers and for amounts that are expected to be refunded to customers (regulatory liabilities). | ||||||||||||
If we were required to terminate the application of these provisions to our regulated operations, all such deferred amounts would be recognized in the Consolidated Income Statements at that time. This would result in a charge to earnings, net of applicable income taxes, which could be material. In addition, we would determine any impairment to the carrying costs of deregulated plant and inventory assets. | ||||||||||||
Derivative Financial Instruments | ||||||||||||
We account for derivative instruments in accordance with ASC 815, Derivatives and Hedging. All derivatives are recognized in the Consolidated Balance Sheets at their fair value unless they qualify for certain exceptions, including the normal purchases and normal sales exception. Additionally, derivatives that qualify and are designated for hedge accounting are classified as either hedges of the fair value of a recognized asset or liability or of an unrecognized firm commitment (fair-value hedge) or hedges of a forecasted transaction or the variability of cash flows to be received or paid related to a recognized asset or liability (cash-flow hedge). For fair-value hedges, changes in fair values for both the derivative and the underlying hedged exposure are recognized in earnings each period. For cash-flow hedges, the portion of the derivative gain or loss that is effective in offsetting the change in the cost or value of the underlying exposure is deferred in accumulated other comprehensive income (AOCI) and later reclassified into earnings when the underlying transaction occurs. Gains and losses from the ineffective portion of any hedge are recognized in earnings immediately. For other derivative contracts that do not qualify or are not designated for hedge accounting, changes in the fair value of the derivatives are recognized in earnings each period. Cash inflows and outflows related to derivative instruments are included as a component of operating, investing or financing cash flows in the Consolidated Statements of Cash Flows, depending on the underlying nature of the hedged items. | ||||||||||||
Revenues and expenses on contracts that qualify are designated as normal purchases and normal sales and are recognized when the underlying physical transaction is completed. While these contracts are considered derivative financial instruments, they are not required to be recorded at fair value, but on an accrual basis of accounting. Normal purchases and normal sales are contracts where physical delivery is probable, quantities are expected to be used or sold in the normal course of business over a reasonable period of time, and price is not tied to an unrelated underlying derivative. As part of our regulated electric and gas operations, we enter into contracts to buy and sell energy to meet the requirements of our customers. These contracts include short-term and long-term commitments to purchase and sell energy in the retail and wholesale markets with the intent and ability to deliver or take delivery. If it were determined that a transaction designated as a normal purchase or a normal sale no longer met the exceptions, the fair value of the related contract would be reflected as an asset or liability and immediately recognized through earnings. See Note 9, Risk Management and Hedging Activities for further discussion of our derivative activity. | ||||||||||||
Property, Plant and Equipment | ||||||||||||
Property, plant and equipment are stated at original cost, including contracted services, direct labor and material, AFUDC, and indirect charges for engineering, supervision and similar overhead items. All expenditures for maintenance and repairs of utility property, plant and equipment are charged to the appropriate maintenance expense accounts. A betterment or replacement of a unit of property is accounted for as an addition and retirement of utility plant. At the time of such a retirement, the accumulated provision for depreciation is charged with the original cost of the property retired and also for the net cost of removal. Also included in plant and equipment are assets under capital lease, which are stated at the present value of minimum lease payments. | ||||||||||||
AFUDC represents the cost of financing construction projects with borrowed funds and equity funds. While cash is not realized currently from such allowance, it is realized under the ratemaking process over the service life of the related property through increased revenues resulting from a higher rate base and higher depreciation expense. The component of AFUDC attributable to borrowed funds is included as a reduction to interest expense, while the equity component is included in other income. We determine the rate used to compute AFUDC in accordance with a formula established by the FERC. This rate averaged 8.0%, 8.1%, and 8.0%, for Montana and South Dakota for 2014, 2013, and 2012, respectively. AFUDC capitalized totaled $10.8 million for the year ended December 31, 2014, $8.2 million for the year ended December 31, 2013 and $7.9 million for the year ended December 31, 2012 for Montana and South Dakota combined. | ||||||||||||
We record provisions for depreciation at amounts substantially equivalent to calculations made on a straight-line method by applying various rates based on useful lives of the various classes of properties (ranging from three to 50 years) determined from engineering studies. As a percentage of the depreciable utility plant at the beginning of the year, our provision for depreciation of utility plant was approximately 2.9%, 3.2%, and 3.3% for 2014, 2013, and 2012, respectively. | ||||||||||||
Depreciation rates include a provision for our share of the estimated costs to decommission our jointly owned plants at the end of the useful life. The annual provision for such costs is included in depreciation expense, while the accumulated provisions are included in noncurrent regulatory liabilities. | ||||||||||||
Other Noncurrent Liabilities | ||||||||||||
Other noncurrent liabilities consisted of the following (in thousands): | ||||||||||||
December 31, | ||||||||||||
2014 | 2013 | |||||||||||
Pension and other employee benefits | $ | 137,377 | $ | 57,140 | ||||||||
Future QF obligation, net | 136,893 | 136,448 | ||||||||||
Environmental | 28,060 | 28,194 | ||||||||||
Customer advances | 30,001 | 27,371 | ||||||||||
Other | 50,158 | 43,471 | ||||||||||
$ | 382,489 | $ | 292,624 | |||||||||
Income Taxes | ||||||||||||
Exposures exist related to various tax filing positions, which may require an extended period of time to resolve and may result in income tax adjustments by taxing authorities. We have reduced deferred tax assets or established liabilities based on our best estimate of future probable adjustments related to these exposures. On a quarterly basis, we evaluate exposures in light of any additional information and make adjustments as necessary to reflect the best estimate of the future outcomes. We believe our deferred tax assets and established liabilities are appropriate for estimated exposures; however, actual results may differ from these estimates. The resolution of tax matters in a particular future period could have a material impact on our Consolidated Income Statements and provision for income taxes. | ||||||||||||
Environmental Costs | ||||||||||||
We record environmental costs when it is probable we are liable for the costs and we can reasonably estimate the liability. We may defer costs as a regulatory asset if there is precedent for recovering similar costs from customers in rates. Otherwise, we expense the costs. If an environmental cost is related to facilities we currently use, such as pollution control equipment, then we may capitalize and depreciate the costs over the remaining life of the asset, assuming the costs are recoverable in future rates or future cash flows. | ||||||||||||
Our remediation cost estimates are based on the use of an environmental consultant, our experience, our assessment of the current situation and the technology currently available for use in the remediation. We regularly adjust the recorded costs as we revise estimates and as remediation proceeds. If we are one of several designated responsible parties, then we estimate and record only our share of the cost. | ||||||||||||
Business Combination | ||||||||||||
Our November 2014 acquisition of hydro generating assets was accounted for using business combination accounting. Under this method, the purchase price paid by the acquirer is allocated to the assets acquired and liabilities assumed as of the acquisition date based on their fair value. For additional information see Note 3 - Hydro Transaction. | ||||||||||||
Accounting Standards Issued | ||||||||||||
In May 2014, the Financial Accounting Standards Board (FASB) issued accounting guidance on the recognition of revenue from contracts with customers, which will supersede nearly all existing revenue recognition guidance under GAAP. Under the new standard, entities will recognize revenue to depict the transfer of goods and services to customers in amounts that reflect the payment to which the entity expects to be entitled in exchange for those goods or services. The guidance also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows from an entity’s contracts with customers. The new guidance will be effective for us in our first quarter of 2017. Early adoption is not permitted. We are currently evaluating the impact of adoption of this new guidance on our Financial Statements and disclosures. | ||||||||||||
In January 2015, the FASB issued guidance which eliminates from GAAP the concept of an extraordinary item. As a result, an entity will no longer (1) segregate an extraordinary item from the results of ordinary operations; (2) separately present an extraordinary item on its income statement, net of tax, after income from continuing operations; and (3) disclose income taxes and earnings-per-share data applicable to an extraordinary item. The new guidance will be effective for us in our first quarter of 2016 and early adoption is permitted. We do not expect the adoption of this standard to have a material effect on our reporting and disclosure. | ||||||||||||
Accounting Standards Adopted | ||||||||||||
There have been no new accounting pronouncements or changes in accounting pronouncements adopted during the period that are of significance, or potential significance, to us. | ||||||||||||
Supplemental Cash Flow Information | ||||||||||||
Year Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
(in thousands) | ||||||||||||
Cash paid for: | ||||||||||||
Income taxes | $ | 35 | $ | 50 | $ | 2,944 | ||||||
Interest | 63,482 | 57,789 | 51,271 | |||||||||
Significant non-cash transactions: | ||||||||||||
Capital expenditures included in trade accounts payable | 8,555 | 12,025 | 13,136 | |||||||||
Hydro_Acquisition_Regulated_Op
Hydro Acquisition Regulated Operations (Notes) | 12 Months Ended | ||||
Dec. 31, 2014 | |||||
Regulated Operations [Abstract] | |||||
Schedule of Significant Events, Acquisitions and Disposals [Text Block] | Hydro Transaction | ||||
In November 2014, we completed the purchase of hydroelectric generating facilities and associated assets located in Montana for an adjusted purchase price of approximately $904 million (Hydro Transaction). The addition of hydroelectric generation is intended to provide long-term supply diversity to our portfolio and reduce risks associated with variable fuel prices. We expect the Hydro Transaction to allow us to reduce our reliance on third party power purchase agreements and spot market purchases, more closely matching our electric generation resources with forecasted customer demand. With reduced amounts of purchased power, we believe we will be less exposed to market volatility and will be better positioned to control the cost of supplying electricity to our customers. | |||||
The facilities acquired include eleven hydro-electric plants and one storage reservoir (each a ‘‘Facility’’ and together the ‘‘Facilities’’) located in central and western Montana along the Missouri, Flathead, Clark Fork and Madison Rivers and Rosebud Creek. The net aggregate generating capacity of the Facilities is 633 MWs, which includes the Kerr Project, a 194 MW hydroelectric generating facility that we expect to transfer to the Confederated Salish and Kootenai Tribes of the Flathead Reservation (CSKT) in September 2015. See further discussion below. Eight of the Facilities, along with the storage reservoir, are collectively licensed as the Missouri-Madison Project, by the FERC. Each of the remaining three Facilities is licensed by FERC as a separate project. | |||||
With the addition of these generating assets and assuming ownership of the Kerr Project is transferred as discussed below, we own generation facilities that provide approximately 60% of our average electric load serving requirements in Montana. The following chart provides an overview of the facilities by name, net capacity in MWs, commercial operation date (COD), river source, FERC license expiration date and average capacity factor. We are the sole direct owner of each facility. | |||||
Plant | COD | River | FERC | Net | |
Source | License | Capacity | |||
Expiration | (MW) (1) | ||||
Black Eagle | 1927 | Missouri | 2040 | 21 | |
Cochrane | 1958 | Missouri | 2040 | 69 | |
Hauser | 1911 | Missouri | 2040 | 19 | |
Holter | 1918 | Missouri | 2040 | 48 | |
Madison | 1906 | Madison | 2040 | 8 | |
Morony | 1930 | Missouri | 2040 | 48 | |
Mystic | 1925 | West Rosebud | 2050 | 12 | |
Creek | |||||
Rainbow | 1910/2013 | Missouri | 2040 | 60 | |
Ryan | 1915 | Missouri | 2040 | 60 | |
Thompson Falls | 1915 | Clark Fork | 2025 | 94 | |
Subtotal | 439 | ||||
Kerr | 1938 | Flathead | 2035 | 194 | |
Total | 633 | ||||
(1) Hebgen facility (0 MW net capacity) excluded from figures. These are run-of-river dams except for Kerr and Mystic, which are storage generation. | |||||
The purchase price was allocated based on the estimated fair values of the assets acquired and liabilities assumed at the date of the acquisition as follows: | |||||
Purchase Price Allocation | (in millions) | ||||
Assets Acquired | |||||
Inventory | $ | 0.2 | |||
Property Plant and Equipment | 899.6 | ||||
Other Prepayments | 4.5 | ||||
Total Assets Acquired | $ | 904.3 | |||
Liabilities Assumed | |||||
Other Current Liabilities | $ | 0.4 | |||
Other Deferred Credits | 0.4 | ||||
Total Liabilities Assumed | $ | 0.8 | |||
Total Purchase Price | $ | 903.5 | |||
We expect to finalize the purchase price allocation, including analysis of environmental matters and potential removal obligations, during the first half of 2015. Pro forma adjustments to our revenues and earnings prior to the date of acquisition would not be meaningful. Prior to the acquisition, the Facilities were nonregulated with output sold to third parties. These Facilities are now part of our regulated fleet used to serve our customers. | |||||
Regulatory Approvals - On September 26, 2014, the MPSC issued a final order (MPSC Order) approving the application, subject to certain conditions, including the following: | |||||
• | Inclusion of $870 million of the $904 million purchase price for the hydro assets in our Montana jurisdictional rate base with a 50-year life; | ||||
• | Return on equity of 9.8%, a cost of debt of 4.25%, and a capital structure of 52% debt and 48% equity, resulting in an associated first year annual retail revenue requirement of approximately $117 million; | ||||
• | A final compliance filing in December 2015 to reflect post-closing adjustments, the conveyance of the Kerr Project as discussed below and the actual property tax expense for the Hydroelectric facilities; and | ||||
• | Tracking of revenue credits on a portfolio basis through our electricity supply cost tracker. | ||||
Financing - We financed the Hydro Transaction with a combination of $450 million of long-term debt, $400 million of equity and cash flows from operations. See Note 12 - Long-Term Debt and Capital Leases and Note 18 - Common Stock for further detail on these transactions. | |||||
Kerr Project - The Hydro Transaction includes the Kerr Project, a 194 MW hydro-electric generating facility that we expect will be transferred to the Confederated Salish and Kootenai Tribes of the Flathead Reservation (CSKT) in September 2015, in accordance with its FERC license, which gives the CSKT the right to acquire the project between September 2015 and September 2025. The CSKT have formally provided notice of their intent to acquire the Kerr Project and designated September 5, 2015, as the date for conveyance to occur. PPL Montana and the CSKT previously conducted an arbitration over the conveyance price of the Kerr Project. In March 2014, an arbitration panel set an estimated conveyance price of approximately $18.3 million. Under our agreement with PPL Montana, the purchase price for the Hydro Transaction includes a $30 million reference price for the Kerr Project. If the CSKT complete the acquisition and pay $18.3 million for the Kerr Project, PPL Montana will pay the difference of $11.7 million to us. We expect to sell any excess generation from the Kerr Project in the market and provide revenue credits to our Montana retail customers until the CSKT exercises their right to acquire the Kerr Project. The MPSC Order provides that customers will have no financial risk related to our temporary ownership of the Kerr Project, with a compliance filing required upon completion of the transfer to CSKT. | |||||
During the twelve months ended December 31, 2014, we incurred approximately $9.5 million of legal and professional fees associated with the Hydro Transaction, which are included in operating, general and administrative expense, and approximately $5.8 million of expenses related to the bridge credit facility included in interest expense. |
Regulatory_Matters
Regulatory Matters | 12 Months Ended |
Dec. 31, 2014 | |
Regulated Operations [Abstract] | |
Regulatory Matters | Regulatory Matters |
Hydro Transaction | |
See Note 3 - Hydro Transaction. | |
South Dakota Electric Rate Filing | |
In December 2014, we filed a request with the SDPUC for an annual increase to electric rates totaling approximately $26.5 million . Our request was based on a return on equity of 10%, a capital structure consisting of 46% debt and 54% equity and rate base of $447.4 million. The SDPUC has not yet issued a procedural schedule and we do not anticipate implementing new rates until at least July 2015. | |
We have not filed an electric rate case in South Dakota since 1980. This filing requests recovery of capital expenditures related to improvements to our transmission and distribution delivery systems over time, the Aberdeen Generating Station, and additions (including estimated 2015 additions) to comply with additional emission reduction requirements at two of our jointly owned electric generating units that serve our South Dakota customers. | |
Dave Gates Generating Station at Mill Creek (DGGS) | |
FERC Filing - In April 2014, the FERC issued an order affirming a FERC Administrative Law Judge's (ALJ) initial decision in September 2012, regarding cost allocation at DGGS between retail and wholesale customers. This decision concluded we should allocate only a fraction of the costs we believe, based on facts and the law, should be allocated to FERC jurisdictional customers. We have been recognizing revenue consistent with the ALJ's initial decision. As of December 31, 2014, we have cumulative deferred revenue of approximately $27.3 million, which is subject to refund and recorded within current regulatory liabilities in the Consolidated Balance Sheets. The order included a requirement to issue customer refunds (included in deferred revenue) within 30 days. | |
In May 2014, we filed a request for rehearing, which remains pending. In our request for rehearing, we have argued that no refunds are due even if the cost allocation method is modified prospectively. There is no deadline by which FERC must act on our rehearing petition, but it could occur during the first quarter of 2015. Customer refunds, if any, will not be due until 30 days after a FERC order on rehearing. If unsuccessful on rehearing, we may appeal to a United States Circuit Court of Appeals. The time line for any such appeal could, depending on when the FERC issues a rehearing order, extend into 2016 or beyond. | |
The FERC order was assessed as a triggering event as to whether an impairment charge should be recorded with respect to DGGS. We continue to evaluate options to use DGGS in combination with other generation resources, including our newly acquired hydro facilities, to ensure cost recovery. Any alternative use of DGGS would be subject to regulatory approval and we cannot provide assurance of such approval. We do not believe an impairment loss is probable at this time; however, we will continue to evaluate recovery of this asset in the future as facts and circumstances change. | |
Montana Electric Tracker Filings | |
Each year we submit an electric tracker filing for recovery of supply costs for the 12-month period ended June 30 and for the projected supply costs for the next 12-month period. The MPSC reviews such filings and makes its cost recovery determination based on whether or not our electric supply procurement activities were prudent. | |
In May 2014, we filed our annual electric supply tracker filing for the 2013/2014 tracker period. The MPSC approved this filing on an interim basis and consolidated it with our pending electric supply filing for the 2012/2013 tracker period. Our 2014 electric tracker filing includes market purchases made between July 2013 and January 2014 for replacement power during an outage at Colstrip Unit 4. Inclusion of these costs in the tracker filing is consistent with the treatment of replacement power during previous outages. During a June 2014 MPSC work session, approximately $11 million of these incremental market purchases related to the Colstrip Unit 4 outage were identified by the MPSC for additional prudency review. In July 2014, the Montana Environmental Information Center and Sierra Club filed a petition to intervene in the consolidated 2013 and 2014 tracker dockets to challenge our recovery of costs associated with Colstrip Unit 4, particularly the costs incurred as a result of the outage, as imprudent. A procedural schedule has not yet been established for the consolidated electric supply tracker docket. | |
Montana Lost Revenue Adjustment Mechanism | |
Demand-side management (DSM) lowers our sales to customers. In 2005, the MPSC created a Lost Revenue Adjustment Mechanism (LRAM) by which we collect revenue that we would have collected without any DSM. In an order issued in October 2013, which was related to our 2011 / 2012 electric supply tracker, the MPSC required us to lower our LRAM revenue recovery and imposed a new burden of proof on us for future LRAM recovery. We appealed the October 2013 order to Montana District Court. The appeal is pending. The District Court approved a partial settlement of our appeal, in which the MPSC agreed to remove from the October 2013 order the sentence that imposed the new burden and to initiate a separate docket to review lost revenue policy issues. The MPSC initiated the new proceeding regarding LRAM in June 2014, discovery is currently in process and a hearing is scheduled for May 2015. | |
Based on the MPSC's October 2013 order, we have recognized $7.1 million of DSM lost revenues for each annual electric supply tracker period. However, since the 2012/2013 and 2013/2014 annual electric tracker filings are still subject to final approval, the MPSC may ultimately require us to refund a portion of the DSM lost revenues we have recognized since July 2012. | |
Montana Natural Gas Tracker Filings | |
Each year we submit a natural gas tracker filing for recovery of supply costs for the 12-month period ended June 30 and for the projected supply costs for the next 12-month period. The MPSC reviews such filings and makes its cost recovery determination based on whether or not our natural gas supply procurement activities were prudent. | |
In May 2014, we filed our annual natural gas supply tracker filing for the 2013/2014 tracker period. During June 2014, the MPSC approved this filing on an interim basis and consolidated it with our pending natural gas filing for the 2012/2013 tracker period. During December 2014, we filed supplemental testimony to correct an allocation error in our initial tracker filing related to our owned production. The financial impact of this correction was not material for any period presented. Discovery is currently in process and a hearing is scheduled for May 2015. | |
Natural Gas Production Assets | |
In 2012 and 2013, we purchased natural gas production interests in northern Montana's Bear Paw Basin (Bear Paw). We are collecting the cost of service for natural gas produced from these assets, including a return on our investment, through our natural gas supply tracker on an interim basis. As a result, we do not expect to file an application with the MPSC to place these assets in natural gas rate base until our next natural gas rate case. We are recognizing Bear Paw related revenue based on the precedent established by the MPSC's approval of Battle Creek in the fourth quarter of 2012. Since acquisition, we have recognized approximately $29.3 million of revenue, a portion of which may be subject to refund. |
Regulatory_Assets_and_Liabilit
Regulatory Assets and Liabilities | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Regulatory Assets and Liabilities Disclosure [Abstract] | |||||||||||||
Regulatory Assets and Liabilities | Regulatory Assets and Liabilities | ||||||||||||
We prepare our consolidated financial statements in accordance with the provisions of ASC 980, as discussed in Note 2 - Significant Accounting Policies. Pursuant to this guidance, certain expenses and credits, normally reflected in income as incurred, are deferred and recognized when included in rates and recovered from or refunded to the customers. Regulatory assets and liabilities are recorded based on management's assessment that it is probable that a cost will be recovered or that an obligation has been incurred. Accordingly, we have recorded the following major classifications of regulatory assets and liabilities that will be recognized in expenses and revenues in future periods when the matching revenues are collected or refunded. Of these regulatory assets and liabilities, energy supply costs are the only items earning a rate of return. The remaining regulatory items have corresponding assets and liabilities that will be paid for or refunded in future periods. | |||||||||||||
Note Reference | Remaining Amortization Period | December 31, | |||||||||||
2014 | 2013 | ||||||||||||
(in thousands) | |||||||||||||
Pension | 16 | Undetermined | $ | 139,050 | $ | 58,474 | |||||||
Employee related benefits | 16 | Undetermined | 19,080 | 17,700 | |||||||||
Distribution infrastructure projects | 3 Years | 9,407 | 12,543 | ||||||||||
Environmental clean-up | 20 | Various | 13,741 | 14,924 | |||||||||
Supply costs | 1 Year | 29,200 | 17,875 | ||||||||||
Income taxes | 13 | Plant Lives | 263,764 | 201,808 | |||||||||
Deferred financing costs | Various | 12,151 | 13,919 | ||||||||||
State & local taxes & fees | Various | 5,319 | 6,582 | ||||||||||
Other | — | Various | 11,419 | 10,846 | |||||||||
Total regulatory assets | $ | 503,131 | $ | 354,671 | |||||||||
Removal cost | 7 | Various | $ | 351,676 | $ | 336,613 | |||||||
Gas storage sales | 25 Years | 10,410 | 10,831 | ||||||||||
Supply costs | 1 Year | 14,569 | 11,493 | ||||||||||
Deferred revenue | 4 | 1 Year | 36,592 | 33,400 | |||||||||
Environmental clean-up | Various | 2,501 | 1,194 | ||||||||||
State & local taxes & fees | 1 Year | 511 | 551 | ||||||||||
Other | Various | 2,138 | 377 | ||||||||||
Total regulatory liabilities | $ | 418,397 | $ | 394,459 | |||||||||
Pension and Employee Related Benefits | |||||||||||||
We recognize the unfunded portion of plan benefit obligations in the Consolidated Balance Sheets, which is remeasured at each year end, with a corresponding adjustment to regulatory assets/liabilities as the costs associated with these plans are recovered in rates. The portion of the regulatory asset related to our Montana pension plan will amortize as cash funding amounts exceed accrual expense under GAAP. The SDPUC allows recovery of pension costs on an accrual basis. The MPSC allows recovery of postretirement benefit costs on an accrual basis. The MPSC allows recovery of other employee related benefits on a cash basis. | |||||||||||||
Montana Distribution System Infrastructure Project (DSIP) | |||||||||||||
We have an accounting order to defer certain incremental operating and maintenance expenses associated with DSIP. Pursuant to the order, we deferred expenses incurred during 2011 and 2012 as a regulatory asset associated with the phase-in portion of the DSIP. These costs are being amortized into expense over five years, which began in 2013. | |||||||||||||
Supply Costs | |||||||||||||
The MPSC, SDPUC and NPSC have authorized the use of electric and natural gas supply cost trackers that enable us to track actual supply costs and either recover the under collection or refund the over collection to our customers. Accordingly, we have recorded a regulatory asset and liability to reflect the future recovery of under collections and refunding of over collections through the ratemaking process. We earn interest on electric and natural gas supply costs under collected, or apply interest in an over collection, of 7.5%, in Montana; 10.6% and 7.8%, respectively, in South Dakota; and 8.5% for natural gas in Nebraska. | |||||||||||||
Deferred Revenue | |||||||||||||
We have deferred revenue associated with DGGS and DSM, which may be subject to refund as we have open regulatory proceedings. See Note 4 - Regulatory Matters, for further information regarding these items. | |||||||||||||
Environmental clean-up | |||||||||||||
Environmental clean-up costs are the estimated costs of investigating and cleaning up contaminated sites we own. We discuss the specific sites and clean-up requirements further in Note 20 - Commitments and Contingencies. Environmental clean-up costs are typically recoverable in customer rates when they are actually incurred. We record changes in the regulatory asset consistent with changes in our environmental liabilities. When cost projections become known and measurable, we coordinate with the appropriate regulatory authority to determine a recovery period. | |||||||||||||
Income Taxes | |||||||||||||
Tax assets primarily reflect the effects of plant related temporary differences such as flow-through of depreciation, repairs related deductions, removal costs, capitalized interest and contributions in aid of construction that we will recover or refund in future rates. We amortize these amounts as temporary differences reverse. | |||||||||||||
Deferred Financing Costs | |||||||||||||
Consistent with our historical regulatory treatment, a regulatory asset has been established to reflect the remaining deferred financing costs on long-term debt that has been replaced through the issuance of new debt. These amounts are amortized over the life of the new debt. | |||||||||||||
State & Local Taxes & Fees (Montana Property Tax Tracker) | |||||||||||||
The MPSC has authorized recovery in the property tax tracker of approximately 60% of the estimated increase as compared with the related amount included in rates during our last rate case. | |||||||||||||
Removal Cost | |||||||||||||
The anticipated costs of removing assets upon retirement are provided for over the life of those assets as a component of depreciation expense. Our depreciation method, including cost of removal, is established by the respective regulatory commissions. Therefore, consistent with this regulated treatment, we reflect this accrual of removal costs for our regulated assets by increasing our regulatory liability. See Note 7 - Asset Retirement Obligations, for further information regarding this item. | |||||||||||||
Gas Storage Sales | |||||||||||||
A regulatory liability was established in 2000 and 2001 based on gains on cushion gas sales in Montana. This gain is being flowed to customers over a period that matches the depreciable life of surface facilities that were added to maintain deliverability from the field after the withdrawal of the gas. This regulatory liability is a reduction of rate base. |
Property_Plant_and_Equipment
Property, Plant and Equipment | 12 Months Ended | |||||||||||||||
Dec. 31, 2014 | ||||||||||||||||
Property, Plant and Equipment [Abstract] | ||||||||||||||||
Property, Plant and Equipment | Property, Plant and Equipment | |||||||||||||||
The following table presents the major classifications of our property, plant and equipment (in thousands): | ||||||||||||||||
Estimated Useful Life | December 31, | |||||||||||||||
2014 | 2013 | |||||||||||||||
(years) | (in thousands) | |||||||||||||||
Land, land rights and easements | 54 – 96 | $ | 130,816 | $ | 128,123 | |||||||||||
Building and improvements | 27 – 64 | 168,041 | 163,852 | |||||||||||||
Transmission, distribution, and storage | 15 – 85 | 2,579,861 | 2,448,821 | |||||||||||||
Generation | 25 – 50 | 1,044,764 | 533,450 | |||||||||||||
Plant acquisition adjustment | 34 – 50 | 654,835 | 204,754 | |||||||||||||
Other | 2 – 45 | 326,211 | 308,345 | |||||||||||||
Construction work in process | –— | 221,868 | 104,891 | |||||||||||||
5,126,396 | 3,892,236 | |||||||||||||||
Less accumulated depreciation | (1,368,388 | ) | (1,202,108 | ) | ||||||||||||
$ | 3,758,008 | $ | 2,690,128 | |||||||||||||
In 2014, we acquired hydro generating assets which resulted in an increase of approximately $870 million in property, plant and equipment. We recorded the plant assets at original cost, less accumulated depreciation with an acquisition adjustment in accordance with FERC rules. The plant acquisition adjustment balance above also includes an amount related to the inclusion of our interest in Colstrip Unit 4 in rate base in 2009. The acquisition adjustment is being amortized on a straight-line basis over the estimated remaining useful life in depreciation expense. Plant and equipment under capital lease were $23.4 million and $25.6 million as of December 31, 2014 and 2013, respectively, which included $23.1 million and $25.1 million as of December 31, 2014 and 2013, respectively, related to a long-term power supply contract with the owners of a natural gas fired peaking plant, which has been accounted for as a capital lease. | ||||||||||||||||
Jointly Owned Electric Generating Plant | ||||||||||||||||
We have an ownership interest in four base-load electric generating plants, all of which are coal fired and operated by other companies. We have an undivided interest in these facilities and are responsible for our proportionate share of the capital and operating costs while being entitled to our proportionate share of the power generated. Our interest in each plant is reflected in the Consolidated Balance Sheets on a pro rata basis and our share of operating expenses is reflected in the Consolidated Statements of Income. The participants each finance their own investment. | ||||||||||||||||
Information relating to our ownership interest in these facilities is as follows (in thousands): | ||||||||||||||||
Big Stone | Neal #4 | Coyote | Colstrip Unit 4 (MT) | |||||||||||||
(SD) | (IA) | (ND) | ||||||||||||||
December 31, 2014 | ||||||||||||||||
Ownership percentages | 23.4 | % | 8.7 | % | 10 | % | 30 | % | ||||||||
Plant in service | $ | 61,628 | $ | 59,579 | $ | 46,045 | $ | 292,806 | ||||||||
Accumulated depreciation | 46,741 | 27,742 | 36,649 | 72,976 | ||||||||||||
December 31, 2013 | ||||||||||||||||
Ownership percentages | 23.4 | % | 8.7 | % | 10 | % | 30 | % | ||||||||
Plant in service | $ | 61,186 | $ | 57,633 | $ | 46,003 | $ | 290,163 | ||||||||
Accumulated depreciation | 45,792 | 29,841 | 36,076 | 70,072 | ||||||||||||
Asset_Retirement_Obligation
Asset Retirement Obligation | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Asset Retirement Obligation Disclosure [Abstract] | ||||||||
Asset Retirement Obligation | Asset Retirement Obligations | |||||||
We are obligated to dispose of certain long-lived assets upon their abandonment. We recognize a liability for the legal obligation to perform an asset retirement activity in which the timing and/or method of settlement are conditional on a future event. We measure the liability at fair value when incurred and capitalize a corresponding amount as part of the book value of the related assets, which increases our property, plant and equipment and other noncurrent liabilities. The increase in the capitalized cost is included in determining depreciation expense over the estimated useful life of these assets. Since the fair value of the asset retirement obligation (ARO) is determined using a present value approach, accretion of the liability due to the passage of time is recognized each period and recorded as a regulatory asset until the settlement of the liability. Revisions to estimated ARO can result from changes in retirement cost estimates, revisions to estimated inflation rates, and changes in the estimated timing of abandonment. If the obligation is settled for an amount other than the carrying amount of the liability, we will recognize a gain or loss on settlement. | ||||||||
Our AROs relate to the reclamation and removal costs at our jointly-owned coal-fired generation facilities, Department of Transportation requirements to cut, purge and cap retired natural gas pipeline segments, and our obligation to plug and abandon oil and gas wells at the end of their life. The following table presents the change in our gross conditional ARO (in thousands): | ||||||||
December 31, | ||||||||
2014 | 2013 | |||||||
Liability at January 1, | $ | 20,886 | $ | 9,283 | ||||
Accretion expense | 1,073 | 745 | ||||||
Liabilities incurred | 552 | 8,829 | ||||||
Liabilities settled | (85 | ) | (27 | ) | ||||
Revisions to cash flows | (991 | ) | 2,056 | |||||
Liability at December 31, | $ | 21,435 | $ | 20,886 | ||||
In addition, we have identified removal liabilities related to our electric and natural gas transmission and distribution assets that have been installed on easements over property not owned by us. The easements are generally perpetual and only require remediation action upon abandonment or cessation of use of the property for the specified purpose. The ARO liability is not estimable for such easements as we intend to utilize these properties indefinitely. In the event we decide to abandon or cease the use of a particular easement, an ARO liability would be recorded at that time. We also identified AROs associated with our Hydro Transaction; however, due to the indeterminate removal date, the fair value of the associated liabilities currently cannot be estimated and no amounts are recognized in the consolidated financial statements | ||||||||
We collect removal costs in rates for certain transmission and distribution assets that do not have associated AROs. Generally, the accrual of future non-ARO removal obligations is not required; however, long-standing ratemaking practices approved by applicable state and federal regulatory commissions have allowed provisions for such costs in historical depreciation rates. The recorded amounts of estimated future removal costs are considered regulatory liabilities and do not represent legal retirement obligations. See Note 5 - Regulatory Assets and Liabilities for removal costs recorded as regulatory liabilities on the consolidated balance sheets as of December 31, 2014 and 2013. |
Goodwill
Goodwill | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Goodwill [Abstract] | ||||||||
Goodwill | Goodwill | |||||||
We completed our annual goodwill impairment test as of April 1, 2014 and no impairment was identified. We calculate the fair value of our reporting units by considering various factors, including valuation studies based primarily on a discounted cash flow analysis, with published industry valuations and market data as supporting information. Key assumptions in the determination of fair value include the use of an appropriate discount rate and estimated future cash flows. In estimating cash flows, we incorporate expected long-term growth rates in our service territory, regulatory stability, and commodity prices (where appropriate), as well as other factors that affect our revenue, expense and capital expenditure projections. | ||||||||
There were no changes in our goodwill during the year ended December 31, 2014. Goodwill by segment is as follows (in thousands): | ||||||||
December 31, | ||||||||
2014 | 2013 | |||||||
Electric | $ | 241,100 | $ | 241,100 | ||||
Natural gas | 114,028 | 114,028 | ||||||
$ | 355,128 | $ | 355,128 | |||||
Risk_Management_and_Hedging_Ac
Risk Management and Hedging Activities | 12 Months Ended | ||||||
Dec. 31, 2014 | |||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||
Risk Management and Hedging Activities | Risk Management and Hedging Activities | ||||||
Nature of Our Business and Associated Risks | |||||||
We are exposed to certain risks related to the ongoing operations of our business, including the impact of market fluctuations in the price of electricity and natural gas commodities and changes in interest rates. We rely on market purchases to fulfill a portion of our electric and natural gas supply requirements within the Montana market. Several factors influence price levels and volatility. These factors include, but are not limited to, seasonal changes in demand, weather conditions, available generating assets within regions, transportation availability and reliability within and between regions, fuel availability, market liquidity, and the nature and extent of current and potential federal and state regulations. | |||||||
Objectives and Strategies for Using Derivatives | |||||||
To manage our exposure to fluctuations in commodity prices we routinely enter into derivative contracts, such as fixed-price forward purchase and sales contracts. The objective of these transactions is to fix the price for a portion of anticipated energy purchases to supply our customers. These types of contracts are included in our electric and natural gas supply portfolios and are used to manage price volatility risk by taking advantage of fluctuations in market prices. While individual contracts may be above or below market value, the overall portfolio approach is intended to provide greater price stability for consumers. These commodity costs are included in our cost tracking mechanisms and are recoverable from customers subject to prudence reviews by the applicable state regulatory commissions. We do not maintain a trading portfolio, and our derivative transactions are only used for risk management purposes consistent with regulatory guidelines. | |||||||
In addition, we may use interest rate swaps to manage our interest rate exposures associated with new debt issuances or to manage our exposure to fluctuations in interest rates on variable rate debt. | |||||||
Accounting for Derivative Instruments | |||||||
We evaluate new and existing transactions and agreements to determine whether they are derivatives. The permitted accounting treatments include: normal purchase normal sale; cash flow hedge; fair value hedge; and mark-to-market. Mark-to-market accounting is the default accounting treatment for all derivatives unless they qualify, and we specifically designate them, for one of the other accounting treatments. Derivatives designated for any of the elective accounting treatments must meet specific, restrictive criteria both at the time of designation and on an ongoing basis. The changes in the fair value of recognized derivatives are recorded each period in current earnings or other comprehensive income, depending on whether a derivative is designated as part of a hedge transaction and the type of hedge transaction. | |||||||
Normal Purchases and Normal Sales | |||||||
We have applied the NPNS exception to our contracts involving the physical purchase and sale of gas and electricity at fixed prices in future periods. During our normal course of business, we enter into full-requirement energy contracts, power purchase agreements and physical capacity contracts, which qualify for NPNS. All of these contracts are accounted for using the accrual method of accounting; therefore, there were no amounts recorded in the Consolidated Financial Statements at December 31, 2014 and 2013. Revenues and expenses from these contracts are reported on a gross basis in the appropriate revenue and expense categories as the commodities are received or delivered. | |||||||
Credit Risk | |||||||
Credit risk is the potential loss resulting from counterparty non-performance under an agreement. We manage credit risk with policies and procedures for, among other things, counterparty analysis and exposure measurement, monitoring and mitigation. We limit credit risk in our commodity and interest rate derivative activities by assessing the creditworthiness of potential counterparties before entering into transactions and continuing to evaluate their creditworthiness on an ongoing basis. | |||||||
We are exposed to credit risk through buying and selling electricity and natural gas to serve customers. We may request collateral or other security from our counterparties based on the assessment of creditworthiness and expected credit exposure. It is possible that volatility in commodity prices could cause us to have material credit risk exposures with one or more counterparties. We enter into commodity master enabling agreements with our counterparties to mitigate credit exposure, as these agreements reduce the risk of default by allowing us or our counterparty the ability to make net payments. The agreements generally are: (1) Western Systems Power Pool agreements - standardized power purchase and sales contracts in the electric industry; (2) International Swaps and Derivatives Association agreements - standardized financial gas and electric contracts; (3) North American Energy Standards Board agreements - standardized physical gas contracts; and (4) Edison Electric Institute Master Purchase and Sale Agreements - standardized power sales contracts in the electric industry. | |||||||
Many of our forward purchase contracts contain provisions that require us to maintain an investment grade credit rating from each of the major credit rating agencies. If our credit rating were to fall below investment grade, the counterparties could require immediate payment or demand immediate and ongoing full overnight collateralization on contracts in net liability positions. | |||||||
Interest Rate Swaps Designated as Cash Flow Hedges | |||||||
In September 2014, we entered into two forward starting swaps of $225 million each at 3.217% and 3.227% to hedge the risk of changes in the interest payments attributable to changes in the benchmark interest rate during the period from the effective date of the swap to the anticipated date of the debt issuance of $450 million associated with the Hydro Transaction. These forward starting interest rate swaps were designated as cash flow hedges at the time the agreements were executed. In November 2014, the interest rate swap agreements were terminated and the settlement resulted in a $18.4 million loss recorded as a component of AOCI. | |||||||
Amounts are reclassified from AOCI into interest expense during the periods in which the hedged interest payments occur. The following table shows the effect of the interest rate swaps terminated in November 2014 and interest rate swaps previously terminated on the Consolidated Financial Statements (in thousands): | |||||||
Cash Flow Hedges | Location of Amount Reclassified from AOCI to Income | Amount Reclassified from AOCI into Income during the Year Ended | |||||
31-Dec-14 | |||||||
Interest rate contracts | Interest Expense | $ | 1,111 | ||||
A net loss of approximately $13.8 million is remaining in AOCI as of December 31, 2014, and we expect to reclassify approximately $0.6 million of net pre-tax gains from AOCI into interest expense during the next twelve months. These amounts relate to terminated swaps, and we have no interest rate swaps outstanding. |
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||||||
Fair Value Measurements | Fair Value Measurements | ||||||||||||||||||||
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (i.e., an exit price). Measuring fair value requires the use of market data or assumptions that market participants would use in pricing the asset or liability, including assumptions about risk and the risks inherent in the inputs to the valuation technique. These inputs can be readily observable, corroborated by market data, or generally unobservable. Valuation techniques are required to maximize the use of observable inputs and minimize the use of unobservable inputs. | |||||||||||||||||||||
Applicable accounting guidance establishes a hierarchy that prioritizes the inputs used to measure fair value, and requires fair value measurements to be categorized based on the observability of those inputs. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 inputs) and the lowest priority to unobservable inputs (Level 3 inputs). The three levels of the fair value hierarchy are as follows: | |||||||||||||||||||||
• | Level 1 – Unadjusted quoted prices available in active markets at the measurement date for identical assets or liabilities; | ||||||||||||||||||||
• | Level 2 – Pricing inputs, other than quoted prices included within Level 1, which are either directly or indirectly observable as of the reporting date; and | ||||||||||||||||||||
• | Level 3 – Significant inputs that are generally not observable from market activity. | ||||||||||||||||||||
We classify assets and liabilities within the fair value hierarchy based on the lowest level of input that is significant to the fair value measurement of each individual asset and liability taken as a whole. The table below sets forth by level within the fair value hierarchy the gross components of our assets and liabilities measured at fair value on a recurring basis. Normal purchases and sales transactions are not included in the fair values by source table as they are not recorded at fair value. See Note 9 - Risk Management and Hedging Activities for further discussion. | |||||||||||||||||||||
We record transfers between levels of the fair value hierarchy, if necessary, at the end of the reporting period. There were no transfers between levels for the periods presented. | |||||||||||||||||||||
December 31, 2014 | Quoted Prices in | Significant Other | Significant | Margin Cash Collateral | Total Net Fair Value | ||||||||||||||||
Active Markets for | Observable Inputs | Unobservable Inputs | Offset | ||||||||||||||||||
Identical Assets or | (Level 2) | (Level 3) | |||||||||||||||||||
Liabilities (Level 1) | |||||||||||||||||||||
(in thousands) | |||||||||||||||||||||
Restricted cash | $ | 13,140 | $ | — | $ | — | $ | — | $ | 13,140 | |||||||||||
Rabbi trust investments | 21,594 | — | — | — | 21,594 | ||||||||||||||||
Total | $ | 34,734 | $ | — | $ | — | $ | — | $ | 34,734 | |||||||||||
December 31, 2013 | |||||||||||||||||||||
Restricted cash | $ | 6,650 | $ | — | $ | — | $ | — | $ | 6,650 | |||||||||||
Rabbi trust investments | 16,477 | — | — | — | 16,477 | ||||||||||||||||
Total | $ | 23,127 | $ | — | $ | — | $ | — | $ | 23,127 | |||||||||||
Restricted cash represents amounts held in money market mutual funds. Rabbi trust assets represent assets held for non-qualified deferred compensation plans, which consist of our common stock and actively traded mutual funds with quoted prices in active markets. | |||||||||||||||||||||
Financial Instruments | |||||||||||||||||||||
The estimated fair value of financial instruments is summarized as follows (in thousands): | |||||||||||||||||||||
December 31, 2014 | December 31, 2013 | ||||||||||||||||||||
Carrying Amount | Fair Value | Carrying Amount | Fair Value | ||||||||||||||||||
Liabilities: | |||||||||||||||||||||
Long-term debt | $ | 1,662,099 | $ | 1,817,642 | $ | 1,155,097 | $ | 1,237,151 | |||||||||||||
Short-term borrowings consist of commercial paper and are not included in the table above as carrying value approximates fair value. The estimated fair value amounts have been determined using available market information and appropriate valuation methodologies; however, considerable judgment is required in interpreting market data to develop estimates of fair value. Accordingly, the estimates presented herein are not necessarily indicative of the amounts that we would realize in a current market exchange. | |||||||||||||||||||||
We determined fair value for long-term debt based on interest rates that are currently available to us for issuance of debt with similar terms and remaining maturities, except for publicly traded debt, for which fair value is based on market prices for the same or similar issues or upon the quoted market prices of U.S. treasury issues having a similar term to maturity, adjusted for our bond issuance rating and the present value of future cash flows. These are significant other observable inputs, or level 2 inputs, in the fair value hierarchy. |
ShortTerm_Borrowings_and_Credi
Short-Term Borrowings and Credit Arrangements | 12 Months Ended | ||||||||||||||
Dec. 31, 2014 | |||||||||||||||
Short-term Debt [Abstract] | |||||||||||||||
Short-Term Debt | Short-Term Borrowings and Credit Arrangements | ||||||||||||||
Short-Term Borrowings | |||||||||||||||
Short-term borrowings and the corresponding weighted average interest rates as of December 31 were as follows (dollars in millions, except for percentages): | |||||||||||||||
2014 | 2013 | ||||||||||||||
Short-Term Debt | Balance | Interest Rate | Balance | Interest Rate | |||||||||||
Commercial Paper | $ | 267.8 | 0.5 | % | $ | 141 | 0.41 | % | |||||||
The following information relates to commercial paper for the years ended December 31 (dollars in millions): | |||||||||||||||
2014 | 2013 | ||||||||||||||
Maximum short-term debt outstanding | $ | 276.9 | $ | 199.9 | |||||||||||
Average short-term debt outstanding | $ | 132.5 | $ | 69 | |||||||||||
Weighted-average interest rate | 0.39 | % | 0.4 | % | |||||||||||
In the fourth quarter of 2014, we increased the size of our commercial paper program from $250 million to $340 million. Under the program we may issue unsecured commercial paper notes on a private placement basis to provide an additional financing source for our short-term liquidity needs. The maturities of the commercial paper issuances will vary, but may not exceed 270 days from the date of issue. Commercial paper issuances are supported by available capacity under our unsecured revolving credit facility. | |||||||||||||||
Unsecured Revolving Line of Credit | |||||||||||||||
In the fourth quarter of 2014, we exercised the accordion feature under our $300 million unsecured revolving credit facility to increase the size to $350 million. The facility does not amortize and is scheduled to expire on November 5, 2018. The facility bears interest at the Eurodollar rate plus a credit spread, ranging from 0.88% to 1.75%, or a base rate, plus a margin of 0.0% to 0.75%. A total of eight banks participate in the facility, with no one bank providing more than 21% of the total availability. There were no direct borrowings or letters of credit outstanding as of December 31, 2014. Commitment fees for the unsecured revolving line of credit were $0.4 million and $0.5 million for the years ended December 31, 2014 and 2013, respectively. | |||||||||||||||
The credit facility includes covenants that require us to meet certain financial tests, including a maximum debt to capitalization ratio not to exceed 65%. The facility also contains covenants which, among other things, limit our ability to engage in any consolidation or merger or otherwise liquidate or dissolve, dispose of property, and enter into transactions with affiliates. A default on the South Dakota or Montana First Mortgage Bonds would trigger a cross default on the credit facility; however a default on the credit facility would not trigger a default on any other obligations. | |||||||||||||||
Bridge Facility | |||||||||||||||
In November 2013, in connection with the Hydro Transaction, we entered into a $900 million 364-day senior bridge credit facility. The bridge facility was not drawn upon and cancelled in November 2014. |
LongTerm_Debt_and_Capital_Leas
Long-Term Debt and Capital Leases | 12 Months Ended | ||||||||||
Dec. 31, 2014 | |||||||||||
Long-term Debt and Capital Lease Obligations [Abstract] | |||||||||||
Long-term Debt And Capital Leases | Long-Term Debt and Capital Leases | ||||||||||
Long-term debt and capital leases consisted of the following (in thousands): | |||||||||||
December 31, | |||||||||||
Due | 2014 | 2013 | |||||||||
Unsecured Debt: | |||||||||||
Unsecured Revolving Line of Credit | 2018 | $ | — | $ | — | ||||||
Secured Debt: | |||||||||||
Mortgage bonds— | |||||||||||
South Dakota—6.05% | 2018 | 55,000 | 55,000 | ||||||||
South Dakota—5.01% | 2025 | 64,000 | 64,000 | ||||||||
South Dakota—4.15% | 2042 | 30,000 | 30,000 | ||||||||
South Dakota—4.30% | 2052 | 20,000 | 20,000 | ||||||||
South Dakota—4.85% | 2043 | 50,000 | 50,000 | ||||||||
South Dakota—4.22% | 2044 | 30,000 | — | ||||||||
Montana—6.04% | 2016 | 150,000 | 150,000 | ||||||||
Montana—6.34% | 2019 | 250,000 | 250,000 | ||||||||
Montana—5.71% | 2039 | 55,000 | 55,000 | ||||||||
Montana—5.01% | 2025 | 161,000 | 161,000 | ||||||||
Montana—4.15% | 2042 | 60,000 | 60,000 | ||||||||
Montana—4.30% | 2052 | 40,000 | 40,000 | ||||||||
Montana—4.85% | 2043 | 15,000 | 15,000 | ||||||||
Montana—3.99% | 2028 | 35,000 | 35,000 | ||||||||
Montana—4.176% | 2044 | 450,000 | — | ||||||||
Pollution control obligations— | |||||||||||
Montana—4.65% | 2023 | 170,205 | 170,205 | ||||||||
Other Long Term Debt: | |||||||||||
New Market Tax Credit Financing—1.146% | 2046 | 26,977 | — | ||||||||
Discount on Notes and Bonds | — | (83 | ) | (108 | ) | ||||||
1,662,099 | 1,155,097 | ||||||||||
Less current maturities | — | — | |||||||||
$ | 1,662,099 | $ | 1,155,097 | ||||||||
Capital Leases: | |||||||||||
Total Capital Leases | Various | $ | 29,892 | $ | 31,557 | ||||||
Less current maturities | (1,730 | ) | (1,662 | ) | |||||||
$ | 28,162 | $ | 29,895 | ||||||||
Secured Debt | |||||||||||
First Mortgage Bonds and Pollution Control Obligations | |||||||||||
The South Dakota Mortgage Bonds are a series of general obligation bonds issued under our South Dakota indenture. All of such bonds are secured by substantially all of our South Dakota and Nebraska electric and natural gas assets. | |||||||||||
The Montana First Mortgage Bonds and Montana Pollution Control Obligations are secured by substantially all of our Montana electric and natural gas assets. | |||||||||||
In December 2014, we issued $30 million aggregate principal amount of South Dakota First Mortgage Bonds at a fixed interest rate of 4.22% maturing in 2044. The bonds are secured by our electric and natural gas assets in South Dakota and were issued in a transaction exempt from the registration requirements of the Securities Act of 1933, as amended. Proceeds were used to fund a portion of our investment growth opportunities. | |||||||||||
Hydro Transaction Issuance - In November 2014, we issued $450 million aggregate principal amount of Montana First Mortgage Bonds at a fixed interest rate of 4.176% maturing in 2044 as a portion of the permanent financing of the Hydro Transaction. The bonds are secured by our electric and natural gas assets in Montana. | |||||||||||
As of December 31, 2014, we are in compliance with our financial debt covenants. | |||||||||||
Other Long-Term Debt | |||||||||||
During 2014 we entered into a New Market Tax Credit (NMTC) financing agreement, pursuant to Section 45D of the Internal Revenue Code of 1986 as amended, to take advantage of a tax credit program related to the development and construction of a new office building in Butte, Montana. This financing agreement was structured with unrelated third party financial institutions (the Investor) and their wholly-owned community development entities (CDEs) in connection with our participation in qualified transactions under the NMTC program. Upon closing of this transaction, we entered into two loans totaling $27.0 million payable to the CDEs sponsoring the project, and provided an $18.2 million investment. The loans have a term of thirty years with an interest rate of approximately 1.146%. In exchange for substantially all of the benefits derived from the tax credits, the Investor contributed approximately $8.8 million to the project. The NMTC is subject to recapture for a period of seven years. If the expected tax benefits are delivered without risk of recapture to the Investor and our performance obligation is relieved, we expect $7.9 million of the loan to be forgiven in July 2021. If we do not meet the conditions for loan forgiveness, we would be required to repay $27.0 million and would concurrently receive the return of our $18.2 million investment. As we are the primary beneficiary of the entities created in relation to the NMTC transaction, they have been consolidated as variable interest entities. The loans of $27.0 million are recorded in long-term debt and the investment of $18.2 million is recorded in other noncurrent assets in the Consolidated Balance Sheets. | |||||||||||
Maturities of Long-Term Debt | |||||||||||
The aggregate minimum principal maturities of long-term debt and capital leases, during the next five years are $1.7 million in 2015, $151.8 million in 2016, $2.0 million in 2017, $57.1 million in 2018 and $252.3 million in 2019. |
Income_Taxes
Income Taxes | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Income Tax Disclosure [Abstract] | ||||||||||||
Income Taxes | Income Taxes | |||||||||||
Income tax (benefit) expense is comprised of the following (in thousands): | ||||||||||||
Year Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Federal | ||||||||||||
Current | $ | (405 | ) | $ | 108 | $ | 5,358 | |||||
Deferred | (5,658 | ) | 18,150 | 13,197 | ||||||||
Investment tax credits | (273 | ) | (335 | ) | (376 | ) | ||||||
State | ||||||||||||
Current | 18 | 83 | (1,411 | ) | ||||||||
Deferred | (3,954 | ) | (3,705 | ) | 1,321 | |||||||
$ | (10,272 | ) | $ | 14,301 | $ | 18,089 | ||||||
The following table reconciles our effective income tax rate to the federal statutory rate: | ||||||||||||
Year Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Federal statutory rate | 35 | % | 35 | % | 35 | % | ||||||
State income, net of federal provisions | (1.8 | ) | (2.8 | ) | 0.9 | |||||||
Flow-through repairs deductions | (22.9 | ) | (16.4 | ) | (14.0 | ) | ||||||
Recognition of unrecognized tax benefit | (11.4 | ) | — | — | ||||||||
Prior year permanent return to accrual adjustments | (4.7 | ) | 0.5 | (1.6 | ) | |||||||
Production tax credits | (2.8 | ) | (2.9 | ) | — | |||||||
Plant and depreciation of flow through items | 0.1 | (0.5 | ) | (1.1 | ) | |||||||
Recognition of state net operating loss benefit / valuation allowance release | — | — | (2.1 | ) | ||||||||
Other, net | (0.8 | ) | 0.3 | (1.6 | ) | |||||||
(9.3 | )% | 13.2 | % | 15.5 | % | |||||||
The following table summarizes the significant differences in income tax (benefit) expense based on the differences between our effective tax rate and the federal statutory rate (in thousands): | ||||||||||||
Year Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Income Before Income Taxes | $ | 110,414 | $ | 108,284 | $ | 116,495 | ||||||
Income tax calculated at 35% federal statutory rate | 38,645 | 37,899 | 40,774 | |||||||||
Permanent or flow through adjustments: | ||||||||||||
State income, net of federal provisions | (1,969 | ) | (3,082 | ) | 1,078 | |||||||
Flow-through repairs deductions | (25,268 | ) | (17,763 | ) | (16,350 | ) | ||||||
Recognition of unrecognized tax benefit | (12,607 | ) | — | — | ||||||||
Prior year permanent return to accrual adjustments | (5,172 | ) | 541 | (1,901 | ) | |||||||
Production tax credits | (3,136 | ) | (3,171 | ) | — | |||||||
Plant and depreciation of flow through items | 74 | (584 | ) | (1,281 | ) | |||||||
Recognition of state net operating loss benefit / valuation allowance release | — | — | (2,398 | ) | ||||||||
Other, net | (839 | ) | 461 | (1,833 | ) | |||||||
$ | (48,917 | ) | $ | (23,598 | ) | $ | (22,685 | ) | ||||
Income tax (benefit) expense | $ | (10,272 | ) | $ | 14,301 | $ | 18,089 | |||||
Our effective tax rate typically differs from the federal statutory tax rate of 35% primarily due to the regulatory impact of flowing through federal and state tax benefits of repairs deductions, state tax benefit of bonus depreciation deductions and production tax credits. The regulatory accounting treatment of these deductions requires immediate income recognition for temporary tax differences of this type, which is referred to as the flow-through method. When the flow-through method of accounting for temporary differences is reflected in regulated revenues, we record deferred income taxes and establish related regulatory assets and liabilities. | ||||||||||||
The income tax benefit for 2014 reflects the release of approximately $12.6 million of unrecognized tax benefits, including approximately $0.4 million of accrued interest and penalties due to the lapse of statutes of limitation in the third quarter of 2014. | ||||||||||||
In September 2013, the IRS issued final tangible property regulations, which included guidance on a safe harbor method for determining the tax treatment of repair costs related to electric transmission and distribution property. The regulations were effective January 1, 2014. During the third quarter of 2014, we elected the safe harbor method and recorded an income tax benefit of approximately $4.3 million for the cumulative adjustment for years prior to 2014, which is included in the prior year permanent return to accrual adjustment in the table above. | ||||||||||||
Deferred income taxes relate primarily to the difference between book and tax methods of depreciating property, amortizing tax-deductible goodwill, the difference in the recognition of revenues and expenses for book and tax purposes, certain natural gas and electric costs which are deferred for book purposes but expensed currently for tax purposes, and NOL carry forwards. We have elected under Internal Revenue Code 46(f)(2) to defer investment tax credit benefits and amortize them against expense and customer billing rates over the book life of the underlying plant. | ||||||||||||
The components of the net deferred income tax liability recognized in our Consolidated Balance Sheets are related to the following temporary differences (in thousands): | ||||||||||||
December 31, | ||||||||||||
2014 | 2013 | |||||||||||
Pension / postretirement benefits | $ | 51,817 | $ | 20,522 | ||||||||
NOL carryforward | 42,787 | 16,758 | ||||||||||
Unbilled revenue | 19,863 | 18,136 | ||||||||||
Compensation accruals | 17,315 | 10,409 | ||||||||||
Customer advances | 11,817 | 10,781 | ||||||||||
AMT credit carryforward | 10,357 | 10,357 | ||||||||||
Environmental liability | 8,968 | 9,026 | ||||||||||
Production tax credit | 6,452 | 3,171 | ||||||||||
Interest rate hedges | 6,251 | — | ||||||||||
QF obligations | 2,162 | 2,066 | ||||||||||
Reserves and accruals | 1,772 | 12,097 | ||||||||||
Property taxes | 881 | 796 | ||||||||||
Regulatory liabilities | 975 | 659 | ||||||||||
Regulatory assets | — | 7,248 | ||||||||||
Other, net | 4,415 | 2,827 | ||||||||||
Deferred Tax Asset | 185,832 | 124,853 | ||||||||||
Excess tax depreciation | (349,428 | ) | (304,071 | ) | ||||||||
Goodwill amortization | (137,090 | ) | (122,798 | ) | ||||||||
Flow through depreciation | (103,677 | ) | (79,016 | ) | ||||||||
Regulatory assets | (21,394 | ) | — | |||||||||
Deferred Tax Liability | (611,589 | ) | (505,885 | ) | ||||||||
Deferred Tax Liability, net | $ | (425,757 | ) | $ | (381,032 | ) | ||||||
At December 31, 2014 we estimate our total federal NOL carryforward to be approximately $351 million prior to consideration of unrecognized tax benefits. If unused, our federal NOL carryforwards will expire as follows: $16.3 million in 2025; $95.5 million in 2028; $23.8 million in 2029; $127.5 million in 2031; $13.3 million in 2033 and $74.9 million in 2034. We estimate our state NOL carryforward as of December 31, 2014 is approximately $264.0 million. If unused, our state NOL carryforwards will expire as follows: $74.0 million in 2015; $18.6 million in 2016; $101.2 million in 2018; $10.5 million in 2020 and $59.7 million in 2021. We believe it is more likely than not that sufficient taxable income will be generated to utilize these NOL carryforwards. | ||||||||||||
Uncertain Tax Positions | ||||||||||||
We recognize tax positions that meet the more-likely-than-not threshold as the largest amount of tax benefit that is greater than 50 percent likely of being realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information. The change in unrecognized tax benefits is as follows (in thousands): | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Unrecognized Tax Benefits at January 1 | $ | 113,466 | $ | 113,291 | $ | 131,949 | ||||||
Gross increases - tax positions in prior period | — | — | — | |||||||||
Gross decreases - tax positions in prior period | — | — | (1,766 | ) | ||||||||
Gross increases - tax positions in current period | 909 | 518 | 2,391 | |||||||||
Gross decreases - tax positions in current period | (5,597 | ) | (343 | ) | (19,283 | ) | ||||||
Lapse of statute of limitations | (12,849 | ) | — | — | ||||||||
Unrecognized Tax Benefits at December 31 | $ | 95,929 | $ | 113,466 | $ | 113,291 | ||||||
Our unrecognized tax benefits include approximately $62.4 million and $79.0 million related to tax positions as of December 31, 2014 and 2013, respectively, that if recognized, would impact our annual effective tax rate. We do not anticipate that total unrecognized tax benefits will significantly change due to the settlement of audits or the expiration of statutes of limitation within the next twelve months. | ||||||||||||
Our policy is to recognize interest and penalties related to uncertain tax positions in income tax expense. As discussed above, during the year ended December 31, 2014, we released approximately $0.4 million of accrued interest in the Consolidated Statements of Income. As of December 31, 2014, we do not have any amounts accrued in the Consolidated Balance Sheets. During the year ended December 31, 2013, we recognized approximately $0.4 million of interest in the Consolidated Statements of Income. As of December 31, 2013, we had $0.4 million of interest accrued in the Consolidated Balance Sheets. | ||||||||||||
Our federal tax returns from 2000 forward remain subject to examination by the IRS. |
Comprehensive_Income_Loss
Comprehensive Income (Loss) | 12 Months Ended | |||||||||||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||||||||||
Statement of Comprehensive Income [Abstract] | ||||||||||||||||||||||||||||||||||||
Comprehensive Income (Loss) Note [Text Block] | Other Comprehensive Income (Loss) | |||||||||||||||||||||||||||||||||||
The following tables display the components of Other Comprehensive Income (Loss), after-tax, and the related tax effects (in thousands): | ||||||||||||||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||
Before-Tax Amount | Tax Benefit | Net-of-Tax Amount | Before-Tax Amount | Tax Benefit | Net-of-Tax Amount | Before-Tax Amount | Tax Benefit | Net-of-Tax Amount | ||||||||||||||||||||||||||||
Foreign currency translation adjustment | $ | 265 | $ | — | $ | 265 | $ | 166 | — | $ | 166 | $ | (54 | ) | $ | — | $ | (54 | ) | |||||||||||||||||
Reclassification of net gains on derivative instruments | (1,110 | ) | 426 | (684 | ) | (1,188 | ) | 458 | (730 | ) | (1,188 | ) | 456 | (732 | ) | |||||||||||||||||||||
Realized loss on cash flow hedging derivatives | (18,388 | ) | 7,243 | (11,145 | ) | — | — | — | — | — | — | |||||||||||||||||||||||||
Pension and postretirement medical liability adjustment | 134 | (52 | ) | 82 | 1,568 | (605 | ) | 963 | (897 | ) | 344 | (553 | ) | |||||||||||||||||||||||
Other comprehensive income (loss) | $ | (19,099 | ) | $ | 7,617 | $ | (11,482 | ) | $ | 546 | $ | (147 | ) | $ | 399 | $ | (2,139 | ) | $ | 800 | $ | (1,339 | ) | |||||||||||||
Balances by classification included within AOCI on the Consolidated Balance Sheets are as follows, net of tax (in thousands): | ||||||||||||||||||||||||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||||||||||||||||||||||
Foreign currency translation | $ | 797 | $ | 532 | ||||||||||||||||||||||||||||||||
Derivative instruments designated as cash flow hedges | (8,316 | ) | 3,513 | |||||||||||||||||||||||||||||||||
Pension and postretirement medical plans | (1,247 | ) | (1,329 | ) | ||||||||||||||||||||||||||||||||
Accumulated other comprehensive income | (8,766 | ) | 2,716 | |||||||||||||||||||||||||||||||||
The following table displays the changes in AOCI by component, net of tax (in thousands): | ||||||||||||||||||||||||||||||||||||
31-Dec-14 | ||||||||||||||||||||||||||||||||||||
Twelve Months Ended | ||||||||||||||||||||||||||||||||||||
Affected Line Item in the Consolidated Statements of Income | Interest Rate Derivative Instruments Designated as Cash Flow Hedges | Pension and Postretirement Medical Plans | Foreign Currency Translation | Total | ||||||||||||||||||||||||||||||||
Beginning balance | $ | 3,513 | $ | (1,329 | ) | $ | 532 | $ | 2,716 | |||||||||||||||||||||||||||
Other comprehensive (loss) income before reclassifications | (11,145 | ) | — | 265 | $ | (10,880 | ) | |||||||||||||||||||||||||||||
Amounts reclassified from accumulated other comprehensive income | Interest Expense | (684 | ) | — | — | $ | (684 | ) | ||||||||||||||||||||||||||||
Amounts reclassified from accumulated other comprehensive income | — | 82 | — | $ | 82 | |||||||||||||||||||||||||||||||
Net current-period other comprehensive (loss) income | (11,829 | ) | 82 | 265 | (11,482 | ) | ||||||||||||||||||||||||||||||
Ending balance | $ | (8,316 | ) | $ | (1,247 | ) | $ | 797 | $ | (8,766 | ) | |||||||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||||||||||||||
Twelve Months Ended | ||||||||||||||||||||||||||||||||||||
Affected Line Item in the Consolidated Statements of Income | Interest Rate Derivative Instruments Designated as Cash Flow Hedges | Pension and Postretirement Medical Plans | Foreign Currency Translation | Total | ||||||||||||||||||||||||||||||||
Beginning balance | $ | 4,243 | $ | (2,292 | ) | $ | 366 | $ | 2,317 | |||||||||||||||||||||||||||
Other comprehensive income before reclassifications | — | — | 166 | $ | 166 | |||||||||||||||||||||||||||||||
Amounts reclassified from accumulated other comprehensive income | Interest Expense | (730 | ) | — | — | $ | (730 | ) | ||||||||||||||||||||||||||||
Amounts reclassified from accumulated other comprehensive income | — | 963 | — | $ | 963 | |||||||||||||||||||||||||||||||
Net current-period other comprehensive (loss) income | (730 | ) | 963 | 166 | 399 | |||||||||||||||||||||||||||||||
Ending balance | $ | 3,513 | $ | (1,329 | ) | $ | 532 | $ | 2,716 | |||||||||||||||||||||||||||
Operating_Leases
Operating Leases | 12 Months Ended | ||
Dec. 31, 2014 | |||
Leases [Abstract] | |||
Operating Leases | Operating Leases | ||
We lease vehicles, office equipment and facilities under various long-term operating leases. At December 31, 2014 future minimum lease payments for the next five years under non-cancelable lease agreements are as follows (in thousands): | |||
2015 | 1,996 | ||
2016 | 1,484 | ||
2017 | 671 | ||
2018 | 70 | ||
2019 | 61 | ||
Lease and rental expense incurred was $2.2 million, $2.0 million and $2.2 million for the years ended December 31, 2014, 2013 and 2012, respectively. |
Employee_Benefit_Plans
Employee Benefit Plans | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ||||||||||||||||||||||||
Employee Benefit Plans | Employee Benefit Plans | |||||||||||||||||||||||
Pension and Other Postretirement Benefit Plans | ||||||||||||||||||||||||
We sponsor and/or contribute to pension and postretirement health care and life insurance benefit plans for eligible employees, which includes two cash balance pension plans. The plan for our South Dakota and Nebraska employees is referred to as the NorthWestern Corporation pension plan, and the plan for our Montana employees is referred to as the NorthWestern Energy pension plan. We utilize a number of accounting mechanisms that reduce the volatility of reported pension costs. Differences between actuarial assumptions and actual plan results are deferred and are recognized into earnings only when the accumulated differences exceed 10% of the greater of the projected benefit obligation or the market-related value of plan assets. If necessary, the excess is amortized over the average remaining service period of active employees. The Plan’s funded status is recognized as an asset or liability in our financial statements. See Note 5 - Regulatory Assets and Liabilities, for further discussion on how these costs are recovered through rates charged to our customers. | ||||||||||||||||||||||||
Benefit Obligation and Funded Status | ||||||||||||||||||||||||
Following is a reconciliation of the changes in plan benefit obligations and fair value of plan assets, and a statement of the funded status (in thousands): | ||||||||||||||||||||||||
Pension Benefits | Other Postretirement Benefits | |||||||||||||||||||||||
December 31, | December 31, | |||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
Change in Benefit Obligation: | ||||||||||||||||||||||||
Obligation at beginning of period | $ | 567,866 | $ | 609,643 | $ | 30,084 | $ | 34,040 | ||||||||||||||||
Service cost | 10,830 | 13,465 | 465 | 541 | ||||||||||||||||||||
Interest cost | 26,147 | 22,719 | 859 | 877 | ||||||||||||||||||||
Actuarial loss (gain) | 107,023 | (54,671 | ) | 958 | (3,156 | ) | ||||||||||||||||||
Settlements | — | — | 690 | — | ||||||||||||||||||||
Benefits paid | (23,422 | ) | (23,290 | ) | (3,052 | ) | (2,218 | ) | ||||||||||||||||
Benefit obligation at end of period | $ | 688,444 | $ | 567,866 | $ | 30,004 | $ | 30,084 | ||||||||||||||||
Change in Fair Value of Plan Assets: | ||||||||||||||||||||||||
Fair value of plan assets at beginning of period | $ | 516,352 | $ | 472,936 | $ | 18,183 | $ | 15,893 | ||||||||||||||||
Return on plan assets | 52,921 | 55,006 | 1,391 | 2,662 | ||||||||||||||||||||
Employer contributions | 10,200 | 11,700 | 1,518 | 1,846 | ||||||||||||||||||||
Benefits paid | (23,422 | ) | (23,290 | ) | (3,052 | ) | (2,218 | ) | ||||||||||||||||
Fair value of plan assets at end of period | $ | 556,051 | $ | 516,352 | $ | 18,040 | $ | 18,183 | ||||||||||||||||
Funded Status | $ | (132,393 | ) | $ | (51,514 | ) | $ | (11,964 | ) | $ | (11,901 | ) | ||||||||||||
Amounts recognized in the balance sheet consist of: | ||||||||||||||||||||||||
Current liability | — | — | (1,169 | ) | (1,178 | ) | ||||||||||||||||||
Noncurrent liability | (132,393 | ) | (51,514 | ) | (10,795 | ) | (10,723 | ) | ||||||||||||||||
Net amount recognized | $ | (132,393 | ) | $ | (51,514 | ) | $ | (11,964 | ) | $ | (11,901 | ) | ||||||||||||
Amounts recognized in regulatory assets consist of: | ||||||||||||||||||||||||
Prior service (cost) credit | (502 | ) | (748 | ) | 17,098 | 19,247 | ||||||||||||||||||
Net actuarial loss | (153,268 | ) | (71,777 | ) | (4,945 | ) | (4,807 | ) | ||||||||||||||||
Amounts recognized in AOCI consist of: | ||||||||||||||||||||||||
Prior service cost | — | — | (1,151 | ) | (1,302 | ) | ||||||||||||||||||
Net actuarial gain | — | — | (409 | ) | (971 | ) | ||||||||||||||||||
Total | $ | (153,770 | ) | $ | (72,525 | ) | $ | 10,593 | $ | 12,167 | ||||||||||||||
The total projected benefit obligation and fair value of plan assets for the pension plans with accumulated benefit obligations in excess of plan assets were as follows (in millions): | ||||||||||||||||||||||||
Pension Benefits | ||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Projected benefit obligation | $ | 688.4 | $ | 567.9 | ||||||||||||||||||||
Accumulated benefit obligation | 685 | 565 | ||||||||||||||||||||||
Fair value of plan assets | 556.1 | 516.4 | ||||||||||||||||||||||
Net Periodic Cost (Credit) | ||||||||||||||||||||||||
The components of the net costs (credits) for our pension and other postretirement plans are as follows (in thousands): | ||||||||||||||||||||||||
Pension Benefits | Other Postretirement Benefits | |||||||||||||||||||||||
December 31, | December 31, | |||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |||||||||||||||||||
Components of Net Periodic Benefit Cost | ||||||||||||||||||||||||
Service cost | $ | 10,830 | $ | 13,465 | $ | 11,488 | $ | 465 | $ | 541 | $ | 541 | ||||||||||||
Interest cost | 26,147 | 22,719 | 23,823 | 859 | 877 | 1,167 | ||||||||||||||||||
Expected return on plan assets | (29,506 | ) | (32,491 | ) | (29,996 | ) | (981 | ) | (1,019 | ) | (1,021 | ) | ||||||||||||
Amortization of prior service cost (credit) | 246 | 246 | 246 | (1,998 | ) | (1,998 | ) | (1,998 | ) | |||||||||||||||
Recognized actuarial loss | 2,118 | 11,648 | 8,646 | 348 | 1,271 | 790 | ||||||||||||||||||
Settlement loss recognized | — | — | — | 690 | — | — | ||||||||||||||||||
Net Periodic Benefit Cost (Credit) | $ | 9,835 | $ | 15,587 | $ | 14,207 | $ | (617 | ) | $ | (328 | ) | $ | (521 | ) | |||||||||
For purposes of calculating the expected return on pension plan assets, the market-related value of assets is used, which is based upon fair value. The difference between actual plan asset returns and estimated plan asset returns are amortized equally over a period not to exceed five years. | ||||||||||||||||||||||||
We estimate amortizations from regulatory assets into net periodic benefit cost during 2015 will be as follows (in thousands): | ||||||||||||||||||||||||
Pension Benefits | Other | |||||||||||||||||||||||
Postretirement | ||||||||||||||||||||||||
Benefits | ||||||||||||||||||||||||
Prior service credit (cost) | $ | (246 | ) | $ | 1,998 | |||||||||||||||||||
Accumulated loss | (10,470 | ) | (325 | ) | ||||||||||||||||||||
Actuarial Assumptions | ||||||||||||||||||||||||
The measurement dates used to determine pension and other postretirement benefit measurements for the plans are December 31, 2014 and 2013. The actuarial assumptions used to compute net periodic pension cost and postretirement benefit cost are based upon information available as of the beginning of the year, specifically, market interest rates, past experience and management's best estimate of future economic conditions. Changes in these assumptions may impact future benefit costs and obligations. In computing future costs and obligations, we must make assumptions about such things as employee mortality and turnover, expected salary and wage increases, discount rate, expected return on plan assets, and expected future cost increases. Two of these assumptions have the most impact on the level of cost: (1) discount rate and (2) expected rate of return on plan assets. | ||||||||||||||||||||||||
For 2014 and 2013, we set the discount rate using a yield curve analysis, which projects benefit cash flows into the future and then discounts those cash flows to the measurement date using a yield curve. This is done by constructing a hypothetical bond portfolio whose cash flow from coupons and maturities matches the year-by-year, projected benefit cash flow from our plans. The decrease in discount rate during 2014 increased our projected benefit obligation by approximately $73.6 million. | ||||||||||||||||||||||||
In determining the expected long-term rate of return on plan assets, we review historical returns, the future expectations for returns for each asset class weighted by the target asset allocation of the pension and postretirement portfolios, and long-term inflation assumptions. Based on the target asset allocation for our pension assets and future expectations for asset returns, we are keeping our long term rate of return on assets assumption at 5.80% for 2015. | ||||||||||||||||||||||||
During 2014, we also updated our mortality assumptions to adopt the Society of Actuaries mortality table (RP-2014) and mortality projection scale (MP-2014) released in October 2014. This change in mortality assumption increased our projected benefit obligation by approximately $33.8 million. | ||||||||||||||||||||||||
The weighted-average assumptions used in calculating the preceding information are as follows: | ||||||||||||||||||||||||
Pension Benefits | Other Postretirement Benefits | |||||||||||||||||||||||
December 31, | December 31, | |||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |||||||||||||||||||
Discount rate | 3.75-3.90 | % | 4.55-4.75 | % | 3.55-3.80 | % | 3.20-3.40 | % | 3.75-4.20 | % | 2.25-3.20 | % | ||||||||||||
Expected rate of return on assets | 5.8 | 7 | 7 | 5.8 | 7 | 7 | ||||||||||||||||||
Long-term rate of increase in compensation levels (nonunion) | 3.58 | 3.58 | 3.58 | 3.58 | 3.58 | 3.58 | ||||||||||||||||||
Long-term rate of increase in compensation levels (union) | 3.5 | 3.5 | 3.5 | 3.5 | 3.5 | 3.5 | ||||||||||||||||||
The postretirement benefit obligation is calculated assuming that health care costs increased by 8.25% in 2014 and the rate of increase in the per capita cost of covered health care benefits thereafter was assumed to decrease gradually by 0.25% per year to an ultimate trend of 4.5% by the year 2029. The company contribution toward the premium cost is capped, therefore future health care cost trend rates are expected to have a minimal impact on company costs and the accumulated postretirement benefit obligation. | ||||||||||||||||||||||||
Investment Strategy | ||||||||||||||||||||||||
Our investment goals with respect to managing the pension and other postretirement assets are to meet current and future benefit payment needs while maximizing total investment returns (income and appreciation) after inflation within the constraints of diversification, prudent risk taking, and the Prudent Man Rule of the Employee Retirement Income Security Act of 1974. Each plan is diversified across asset classes to achieve optimal balance between risk and return and between income and growth through capital appreciation. Our investment philosophy is based on the following: | ||||||||||||||||||||||||
• | Each plan should be substantially fully invested as long-term cash holdings reduce long-term rates of return; | |||||||||||||||||||||||
• | It is prudent to diversify each plan across the major asset classes; | |||||||||||||||||||||||
• | Equity investments provide greater long-term returns than fixed income investments, although with greater short-term volatility; | |||||||||||||||||||||||
• | Fixed income investments of the plans should strongly correlate with the interest rate sensitivity of the plan’s aggregate liabilities in order to hedge the risk of change in interest rates negatively impacting the overall funded status; | |||||||||||||||||||||||
• | Allocation to foreign equities increases the portfolio diversification and thereby decreases portfolio risk while providing for the potential for enhanced long-term returns; | |||||||||||||||||||||||
• | Active management can reduce portfolio risk and potentially add value through security selection strategies; | |||||||||||||||||||||||
• | A portion of plan assets should be allocated to passive, indexed management funds to provide for greater diversification and lower cost; and | |||||||||||||||||||||||
• | It is appropriate to retain more than one investment manager, provided that such managers offer asset class or style diversification. | |||||||||||||||||||||||
Investment risk is measured and monitored on an ongoing basis through quarterly investment portfolio reviews, annual liability measurements, and periodic asset/liability studies. | ||||||||||||||||||||||||
The most important component of an investment strategy is the portfolio asset mix, or the allocation between the various classes of securities available. The mix of assets is based on an optimization study that identifies asset allocation targets in order to achieve the maximum return for an acceptable level of risk, while minimizing the expected contributions and pension and postretirement expense. In the optimization study, assumptions are formulated about characteristics, such as expected asset class investment returns, volatility (risk), and correlation coefficients among the various asset classes, and making adjustments to reflect future conditions expected to prevail over the study period. Based on this, the target asset allocation established, within an allowable range of plus or minus 5%, is as follows: | ||||||||||||||||||||||||
Pension Benefits | Other Benefits | |||||||||||||||||||||||
December 31, | December 31, | |||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
Domestic debt securities | 55 | % | 60 | % | 40 | % | 40 | % | ||||||||||||||||
International debt securities | 5 | 5 | — | — | ||||||||||||||||||||
Domestic equity securities | 34 | 30 | 50 | 50 | ||||||||||||||||||||
International equity securities | 6 | 5 | 10 | 10 | ||||||||||||||||||||
The actual allocation by plan is as follows: | ||||||||||||||||||||||||
NorthWestern Energy Pension | NorthWestern Corporation Pension | NorthWestern Energy | ||||||||||||||||||||||
Health and Welfare | ||||||||||||||||||||||||
December 31, | December 31, | December 31, | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
Cash and cash equivalents | — | % | — | % | 0.1 | % | 0.1 | % | 0.2 | % | 1.8 | % | ||||||||||||
Domestic debt securities | 56 | 58.6 | 65.6 | 64.7 | 37.2 | 38.6 | ||||||||||||||||||
International debt securities | 4.4 | 4.9 | 4.5 | 4.9 | — | 0.3 | ||||||||||||||||||
Domestic equity securities | 34.1 | 31.4 | 25.1 | 25.3 | 53.9 | 50.1 | ||||||||||||||||||
International equity securities | 5.5 | 5.1 | 4.7 | 5 | 8.7 | 9.2 | ||||||||||||||||||
100 | % | 100 | % | 100 | % | 100 | % | 100 | % | 100 | % | |||||||||||||
Generally, the asset mix will be rebalanced to the target mix as individual portfolios approach their minimum or maximum levels. Debt securities consist of U.S. and international instruments. Core domestic portfolios can be invested in government, corporate, asset-backed and mortgage-backed obligation securities. While the portfolio may invest in high yield securities, the average quality must be rated at least “investment grade" by rating agencies. Performance of fixed income investments is measured by both traditional investment benchmarks as well as relative changes in the present value of the plan's liabilities. Equity investments consist primarily of U.S. stocks including large, mid and small cap stocks, which are diversified across investment styles such as growth and value. We also invest in international equities with exposure to developing and emerging markets. Derivatives, options and futures are permitted for the purpose of reducing risk but may not be used for speculative purposes. | ||||||||||||||||||||||||
Our plan assets are primarily invested in common collective trusts (CCTs), which are invested in equity and fixed income securities. In accordance with our investment policy, these pooled investment funds must have an adequate asset base relative to their asset class and be invested in a diversified manner and have a minimum of three years of verified investment performance experience or verified portfolio manager investment experience in a particular investment strategy and have management and oversight by an investment advisor registered with the SEC. Investments in a collective investment vehicle are valued by multiplying the investee company’s net asset value per share with the number of units or shares owned at the valuation date. Net asset value per share is determined by the trustee. Investments held by the CCT, including collateral invested for securities on loan, are valued on the basis of valuations furnished by a pricing service approved by the CCT’s investment manager, which determines valuations using methods based on quoted closing market prices on national securities exchanges, or at fair value as determined in good faith by the CCT’s investment manager if applicable. The funds do not contain any redemption restrictions. The direct holding of NorthWestern Corporation stock is not permitted; however, any holding in a diversified mutual fund or collective investment fund is permitted. In addition, the NorthWestern Corporation pension plan assets also include a participating group annuity contract in the John Hancock General Investment Account, which consists primarily of fixed-income securities. The participating group annuity contract is valued based on discounted cash flows of current yields of similar contracts with comparable duration based on the underlying fixed income investments. | ||||||||||||||||||||||||
The fair value of our plan assets at December 31, 2014, by asset category are as follows (in thousands): | ||||||||||||||||||||||||
Asset Category | Total | Quoted Market | Significant Observable Inputs | Significant Unobservable Inputs | ||||||||||||||||||||
Prices in Active | Level 2 | Level 3 | ||||||||||||||||||||||
Markets for | ||||||||||||||||||||||||
Identical Assets | ||||||||||||||||||||||||
Level 1 | ||||||||||||||||||||||||
Pension Plan Assets | ||||||||||||||||||||||||
Cash and cash equivalents | $ | 126 | $ | — | $ | 126 | $ | — | ||||||||||||||||
Equity securities: (1) | ||||||||||||||||||||||||
US small/mid cap growth | 16,605 | — | 16,605 | — | ||||||||||||||||||||
US small/mid cap value | 15,264 | — | 15,264 | — | ||||||||||||||||||||
US large cap growth | 48,560 | — | 48,560 | — | ||||||||||||||||||||
US large cap value | 48,785 | — | 48,785 | — | ||||||||||||||||||||
US large cap passive | 54,775 | — | 54,775 | — | ||||||||||||||||||||
Non-US core | 22,634 | — | 22,634 | — | ||||||||||||||||||||
Emerging markets | 7,650 | — | 7,650 | — | ||||||||||||||||||||
Fixed income securities:(2) | ||||||||||||||||||||||||
US core | 23,177 | — | 23,177 | — | ||||||||||||||||||||
US passive | 12,269 | — | 12,269 | — | ||||||||||||||||||||
Long duration | 41,451 | — | 41,451 | — | ||||||||||||||||||||
Long duration investment grade | 52,767 | — | 52,767 | — | ||||||||||||||||||||
Long duration passive | 41,475 | — | 41,475 | — | ||||||||||||||||||||
Opportunistic | 5,692 | — | 5,692 | — | ||||||||||||||||||||
Non-US passive | 24,504 | — | 24,504 | — | ||||||||||||||||||||
Active long corporate | 133,160 | — | 133,160 | — | ||||||||||||||||||||
Participating group annuity contract | 7,157 | — | 7,157 | — | ||||||||||||||||||||
$ | 556,051 | $ | — | $ | 556,051 | $ | — | |||||||||||||||||
Other Postretirement Benefit Plan Assets | ||||||||||||||||||||||||
Cash and cash equivalents | $ | 44 | $ | — | $ | 44 | $ | — | ||||||||||||||||
Equity securities: (1) | — | |||||||||||||||||||||||
US small/mid cap growth | 752 | — | 752 | — | ||||||||||||||||||||
US small/mid cap value | 721 | — | 721 | — | ||||||||||||||||||||
S&P 500 index | 8,234 | — | 8,234 | — | ||||||||||||||||||||
US large cap growth | 6 | — | 6 | — | ||||||||||||||||||||
US large cap value | 6 | — | 6 | — | ||||||||||||||||||||
US large cap passive | 7 | — | 7 | — | ||||||||||||||||||||
Non-US core | 1,495 | — | 1,495 | — | ||||||||||||||||||||
Emerging markets | 72 | — | 72 | — | ||||||||||||||||||||
Fixed income securities: (2) | ||||||||||||||||||||||||
Passive bond market | 1,992 | — | 1,992 | — | ||||||||||||||||||||
US core | 4,435 | — | 4,435 | — | ||||||||||||||||||||
US passive | 1 | — | 1 | — | ||||||||||||||||||||
Long duration | 5 | — | 5 | — | ||||||||||||||||||||
Long duration investment grade | 6 | — | 6 | — | ||||||||||||||||||||
Long duration passive | 5 | — | 5 | — | ||||||||||||||||||||
Opportunistic | 240 | — | 240 | — | ||||||||||||||||||||
Non-US passive | 3 | — | 3 | — | ||||||||||||||||||||
Active long corporate | 16 | — | 16 | — | ||||||||||||||||||||
$ | 18,040 | $ | — | $ | 18,040 | $ | — | |||||||||||||||||
The fair value of our plan assets at December 31, 2013, by asset category are as follows (in thousands): | ||||||||||||||||||||||||
Asset Category | Total | Quoted Market | Significant Observable Inputs | Significant Unobservable Inputs | ||||||||||||||||||||
Prices in Active | Level 2 | Level 3 | ||||||||||||||||||||||
Markets for | ||||||||||||||||||||||||
Identical Assets | ||||||||||||||||||||||||
Level 1 | ||||||||||||||||||||||||
Pension Plan Assets | ||||||||||||||||||||||||
Cash and cash equivalents | $ | 168 | $ | — | $ | 168 | $ | — | ||||||||||||||||
Equity securities: (1) | ||||||||||||||||||||||||
US small/mid cap growth | 13,764 | — | 13,764 | — | ||||||||||||||||||||
US small/mid cap value | 13,664 | — | 13,664 | — | ||||||||||||||||||||
US large cap growth | 42,094 | — | 42,094 | — | ||||||||||||||||||||
US large cap value | 42,102 | — | 42,102 | — | ||||||||||||||||||||
US large cap passive | 47,227 | — | 47,227 | — | ||||||||||||||||||||
Non-US core | 20,015 | — | 20,015 | — | ||||||||||||||||||||
Emerging markets | 6,250 | — | 6,250 | — | ||||||||||||||||||||
Fixed income securities:(2) | ||||||||||||||||||||||||
US core | 82,639 | — | 82,639 | — | ||||||||||||||||||||
US passive | 44,762 | — | 44,762 | — | ||||||||||||||||||||
Long duration | 24,401 | — | 24,401 | — | ||||||||||||||||||||
Long duration investment grade | 32,700 | — | 32,700 | — | ||||||||||||||||||||
Long duration passive | 24,122 | — | 24,122 | — | ||||||||||||||||||||
Opportunistic | 5,876 | — | 5,876 | — | ||||||||||||||||||||
Non-US passive | 25,150 | — | 25,150 | — | ||||||||||||||||||||
Active long corporate | 83,147 | — | 83,147 | — | ||||||||||||||||||||
Participating group annuity contract | 8,271 | — | 8,271 | — | ||||||||||||||||||||
$ | 516,352 | $ | — | $ | 516,352 | $ | — | |||||||||||||||||
Other Postretirement Benefit Plan Assets | ||||||||||||||||||||||||
Cash and cash equivalents | $ | 318 | — | $ | 318 | — | ||||||||||||||||||
Equity securities: (1) | ||||||||||||||||||||||||
US small/mid cap growth | 751 | — | 751 | — | ||||||||||||||||||||
US small/mid cap value | 736 | — | 736 | — | ||||||||||||||||||||
S&P 500 index | 7,321 | — | 7,321 | — | ||||||||||||||||||||
US large cap growth | 98 | — | 98 | — | ||||||||||||||||||||
US large cap value | 98 | — | 98 | — | ||||||||||||||||||||
US large cap passive | 110 | — | 110 | — | ||||||||||||||||||||
Non-US core | 1,595 | — | 1,595 | — | ||||||||||||||||||||
Emerging markets | 85 | — | 85 | — | ||||||||||||||||||||
Fixed income securities: (2) | ||||||||||||||||||||||||
Passive bond market | 1,880 | — | 1,880 | — | ||||||||||||||||||||
US core | 4,390 | — | 4,390 | — | ||||||||||||||||||||
US passive | 107 | — | 107 | — | ||||||||||||||||||||
Long duration | 55 | — | 55 | — | ||||||||||||||||||||
Long duration investment grade | 79 | — | 79 | — | ||||||||||||||||||||
Long duration passive | 55 | — | 55 | — | ||||||||||||||||||||
Opportunistic | 261 | — | 261 | — | ||||||||||||||||||||
Non-US passive | 57 | — | 57 | — | ||||||||||||||||||||
Active long corporate | 187 | — | 187 | — | ||||||||||||||||||||
$ | 18,183 | $ | — | $ | 18,183 | $ | — | |||||||||||||||||
_________________ | ||||||||||||||||||||||||
-1 | This category consists of active and passive managed equity funds, which are invested in multiple strategies to diversify risks and reduce volatility. | |||||||||||||||||||||||
(2) This category consists of investment grade bonds of issuers from diverse industries, debt securities issued by international, national, state and local governments, and asset-backed securities. This includes both active and passive managed funds. | ||||||||||||||||||||||||
For further discussion of the three levels of the fair value hierarchy see Note 10 - Fair Value Measurements. | ||||||||||||||||||||||||
Cash Flows | ||||||||||||||||||||||||
In accordance with the Pension Protection Act of 2006 (PPA), and the relief provisions of the Worker, Retiree, and Employer Recovery Act of 2008 (WRERA), we are required to meet minimum funding levels in order to avoid required contributions and benefit restrictions. We have elected to use asset smoothing provided by the WRERA, which allows the use of asset averaging, including expected returns (subject to certain limitations), for a 24-month period in the determination of funding requirements. | ||||||||||||||||||||||||
Based on the assumptions allowed under the PPA, WRERA, Treasury guidance and IRS guidance, we estimate that our minimum annual required contribution for 2015 will be approximately $10.2 million. Additional legislative or regulatory measures, as well as fluctuations in financial market conditions, may impact these funding requirements. | ||||||||||||||||||||||||
Due to the regulatory treatment of pension costs in Montana, pension expense for 2014 and 2013 was based on actual contributions to the plan, while 2012 pension expense was calculated using the average of our actual and estimated funding amounts from 2005 through 2012. Annual contributions to each of the pension plans are as follows (in thousands): | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
NorthWestern Energy Pension Plan (MT) | $ | 9,000 | $ | 10,500 | $ | 10,500 | ||||||||||||||||||
NorthWestern Pension Plan (SD) | 1,200 | 1,200 | 1,200 | |||||||||||||||||||||
$ | 10,200 | $ | 11,700 | $ | 11,700 | |||||||||||||||||||
We estimate the plans will make future benefit payments to participants as follows (in thousands): | ||||||||||||||||||||||||
Pension Benefits | Other Postretirement Benefits | |||||||||||||||||||||||
2015 | $ | 27,652 | $ | 3,516 | ||||||||||||||||||||
2016 | 29,905 | 3,516 | ||||||||||||||||||||||
2017 | 31,172 | 3,387 | ||||||||||||||||||||||
2018 | 33,142 | 3,282 | ||||||||||||||||||||||
2019 | 34,660 | 3,026 | ||||||||||||||||||||||
2020-2024 | 194,065 | 11,923 | ||||||||||||||||||||||
Defined Contribution Plan | ||||||||||||||||||||||||
Our defined contribution plan permits employees to defer receipt of compensation as provided in Section 401(k) of the Internal Revenue Code. Under the plan, employees may elect to direct a percentage of their gross compensation to be contributed to the plan. We contribute various percentage amounts of the employee's gross compensation contributed to the plan. Matching contributions for the year ended December 31, 2014, 2013 and 2012 were $8.7 million, $7.8 million, and $7.2 million |
StockBased_Compensation
Stock-Based Compensation | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||||||||
Stock-Based Compensation | Stock-Based Compensation | |||||||
We grant stock-based awards through our Amended and Restated Equity Compensation Plan (ECP), which includes restricted stock awards and performance share awards. In 2014, an additional 600,000 shares of common stock were authorized by the shareholders for issuance under the ECP. As of December 31, 2014, there were 1,124,798 shares of common stock remaining available for grants. The remaining vesting period for awards previously granted ranges from one to five years if the service and/or performance requirements are met. Nonvested shares do not receive dividend distributions. The long-term incentive plan provides for accelerated vesting in the event of a change in control. | ||||||||
We account for our share-based compensation arrangements by recognizing compensation costs for all share-based awards over the respective service period for employee services received in exchange for an award of equity or equity-based compensation. The compensation cost is based on the fair value of the grant on the date it was awarded. | ||||||||
Performance Share Awards | ||||||||
Performance share awards are granted annually under the ECP. With these awards, shares will vest if, at the end of the three-year performance period, we have achieved certain performance goals and the individual remains employed by us. The exact number of shares issued will vary from 0% to 200% of the target award, depending on actual company performance relative to the performance goals. These awards contain both a market and performance based component. For our outstanding performance share awards which were granted in 2012 and 2013, the performance goals are independent of each other and equally weighted, and are based on two metrics: (i) cumulative net income and average return on equity; and (ii) total shareholder return (TSR) relative to a peer group. For the awards granted in 2014, our Board added an earnings per share metric and removed the net income metric, while retaining the average return on equity and TSR metrics. | ||||||||
Fair value is determined for each component of the performance share awards. The fair value of the net income / earnings per share component is estimated based upon the closing market price of our common stock as of the date of grant less the present value of expected dividends, multiplied by an estimated performance multiple determined on the basis of historical experience, which is subsequently trued up at vesting based on actual performance. The fair value of the TSR portion is estimated using a statistical model that incorporates the probability of meeting performance targets based on historical returns relative to the peer group. The following summarizes the significant assumptions used to determine the fair value of performance shares and related compensation expense as well as the resulting estimated fair value of performance shares granted: | ||||||||
2014 | 2013 | |||||||
Risk-free interest rate | 0.67 | % | 0.44 | % | ||||
Expected life, in years | 3 | 3 | ||||||
Expected volatility | 15.5% to 23.3% | 16.3% to 25.4% | ||||||
Dividend yield | 3.3 | % | 3.9 | % | ||||
The risk-free interest rate was based on the U.S. Treasury yield of a three-year bond at the time of grant. The expected term of the performance shares is three years based on the performance cycle. Expected volatility was based on the historical volatility for the peer group. Both performance goals are measured over the three-year vesting period and are charged to compensation expense over the vesting period based on the number of shares expected to vest. | ||||||||
A summary of nonvested shares as of and changes during the year ended December 31, 2014, are as follows: | ||||||||
Performance Share Awards | ||||||||
Shares | Weighted-Average Grant-Date | |||||||
Fair Value | ||||||||
Beginning nonvested grants | 173,646 | $ | 29.14 | |||||
Granted | 96,193 | 38.33 | ||||||
Vested | (84,652 | ) | 25.19 | |||||
Forfeited | (4,615 | ) | 33.55 | |||||
Remaining nonvested grants | 180,572 | $ | 35.77 | |||||
We recognized compensation expense of $3.1 million, $2.4 million, and $2.8 million for the years ended December 31, 2014, 2013, and 2012, respectively, and a related income tax benefit of $0.1 million, $1.5 million, and $0.4 million for the years ended December 31, 2014, 2013, and 2012, respectively. As of December 31, 2014, we had $3.6 million of unrecognized compensation cost related to the nonvested portion of outstanding awards, which is reflected as nonvested stock as a portion of additional paid in capital in our Statements of Common Shareholders' Equity. The cost is expected to be recognized over a weighted-average period of 2.0 years. The total fair value of shares vested was $2.1 million, $2.2 million, and $2.0 million for the years ended December 31, 2014, 2013 and 2012, respectively. | ||||||||
Retirement/Retention Restricted Share Awards | ||||||||
In December 2011, an executive retirement / retention program was established that provides for the annual grant of restricted share units. These awards are subject to a five-year performance and vesting period. The performance measure for these awards requires net income for the calendar year of at least three of the five full calendar years during the performance period to exceed net income for the calendar year the awards are granted. Once vested, the awards will be paid out in shares of common stock in five equal annual installments after a recipient has separated from service. The fair value of these awards is measured based upon the closing market price of our common stock as of the date of grant less the present value of expected dividends. | ||||||||
A summary of nonvested shares as of and changes during the year ended December 31, 2014, are as follows: | ||||||||
Shares | Weighted-Average Grant-Date | |||||||
Fair Value | ||||||||
Beginning nonvested grants | 26,628 | $ | 30.24 | |||||
Granted | 15,092 | 43.79 | ||||||
Vested | — | — | ||||||
Forfeited | — | — | ||||||
Remaining nonvested grants | 41,720 | $ | 35.14 | |||||
Director's Deferred Compensation | ||||||||
Nonemployee directors may elect to defer up to 100% of any qualified compensation that would be otherwise payable to him or her, subject to compliance with our 2005 Deferred Compensation Plan for Nonemployee Directors and Section 409A of the Internal Revenue Code. The deferred compensation may be invested in NorthWestern stock or in designated investment funds. Compensation deferred in a particular month is recorded as a deferred stock unit (DSU) on the first of the following month based on the closing price of NorthWestern stock or the designated investment fund. The DSUs are marked-to-market on a quarterly basis with an adjustment to director’s compensation expense. Based on the election of the nonemployee director, following separation from service on the Board, other than on account of death, he or she shall be paid a distribution either in a lump sum or in approximately equal installments over a designated number of years (not to exceed 10 years). During the years ended December 31, 2014, 2013 and 2012, DSUs issued to members of our Board totaled 26,460, 33,837 and 31,801, respectively. Total compensation expense attributable to the DSUs during the years ended December 31, 2014, 2013 and 2012 was approximately $2.3 million, $3.6 million and $0.9 million, respectively. |
Common_Stock
Common Stock | 12 Months Ended |
Dec. 31, 2014 | |
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | |
Common Stock | Common Stock |
We have 250,000,000 shares authorized consisting of 200,000,000 shares of common stock with a $0.01 par value and 50,000,000 shares of preferred stock with a $0.01 par value. Of these shares, 2,865,957 shares of common stock are reserved for the incentive plan awards. For further detail of grants under this plan see Note 17 - Stock-Based Compensation. | |
Hydro Transaction Issuance - In November 2014, we issued 7,766,990 shares of our common stock at $51.50 per share, for aggregate net proceeds of $386 million. | |
Equity Distribution Agreement - In April 2012, we entered into an Equity Distribution Agreement pursuant to which we could offer and sell shares of our common stock from time to time, having an aggregate gross sales price of up to $100 million. During the first quarter of 2014, we issued 295,979 shares of our common stock at an average price of $45.65 per share, for net proceeds of $13.4 million, which are net of sales commissions of approximately $147,000 and other fees. This concluded our sales pursuant to the Equity Distribution Agreement. Total shares issued under the Equity Distribution Agreement were 2,492,889 shares at an average price of $40.11, for net proceeds of $98.7 million. | |
Repurchase of Common Stock | |
Shares tendered by employees to us to satisfy the employees' tax withholding obligations in connection with the vesting of restricted stock awards totaled 23,630 and 34,552 during the years ended December 31, 2014 and 2013, respectively, and are reflected in treasury stock. These shares were credited to treasury stock based on their fair market value on the vesting date. |
Earnings_Per_Share
Earnings Per Share | 12 Months Ended | |||||
Dec. 31, 2014 | ||||||
Earnings Per Share [Abstract] | ||||||
Earnings Per Share | Earnings Per Share | |||||
Basic earnings per share are computed by dividing earnings applicable to common stock by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflect the potential dilution of common stock equivalent shares that could occur if unvested shares were to vest. Common stock equivalent shares are calculated using the treasury stock method, as applicable. The dilutive effect is computed by dividing earnings applicable to common stock by the weighted average number of common shares outstanding plus the effect of the outstanding unvested restricted stock and performance share awards. Average shares used in computing the basic and diluted earnings per share are as follows: | ||||||
December 31, | ||||||
2014 | 2013 | |||||
Basic computation | 40,156,177 | 38,144,852 | ||||
Dilutive effect of | ||||||
Performance share awards (1) | 275,774 | 82,223 | ||||
Diluted computation | 40,431,951 | 38,227,075 | ||||
_____________________ | ||||||
(1) Performance share awards are included in diluted weighted average number of shares outstanding based upon what would be issued if the end of the most recent reporting period was the end of the term of the award. |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ||||||||||||
Commitments and Contingencies | Commitments and Contingencies | |||||||||||
Qualifying Facilities Liability | ||||||||||||
Our QF liability primarily consists of unrecoverable costs associated with three contracts covered under the PURPA. The QFs require us to purchase minimum amounts of energy at prices ranging from $74 to $136 per MWH through 2029. Our estimated gross contractual obligation related to the QFs is approximately $1.0 billion through 2029. A portion of the costs incurred to purchase this energy is recoverable through rates, totaling approximately $0.8 billion through 2029. The present value of the remaining QF liability is recorded in our Consolidated Balance Sheets as a regulatory disallowance liability pursuant to ASC 980. The following summarizes the change in the QF liability (in thousands): | ||||||||||||
December 31, | ||||||||||||
2014 | 2013 | |||||||||||
Beginning QF liability | $ | 136,448 | $ | 136,652 | ||||||||
Unrecovered amount | (10,128 | ) | (10,647 | ) | ||||||||
Interest expense | 10,573 | 10,443 | ||||||||||
Ending QF liability | $ | 136,893 | $ | 136,448 | ||||||||
The following summarizes the estimated gross contractual obligation less amounts recoverable through rates (in thousands): | ||||||||||||
Gross | Recoverable | Net | ||||||||||
Obligation | Amounts | |||||||||||
2015 | $ | 69,606 | $ | 56,598 | $ | 13,008 | ||||||
2016 | 71,598 | 57,188 | 14,410 | |||||||||
2017 | 73,622 | 57,789 | 15,833 | |||||||||
2018 | 75,688 | 58,401 | 17,287 | |||||||||
2019 | 77,791 | 59,020 | 18,771 | |||||||||
Thereafter | 646,783 | 508,195 | 138,588 | |||||||||
Total | $ | 1,015,088 | $ | 797,191 | $ | 217,897 | ||||||
Long Term Supply and Capacity Purchase Obligations | ||||||||||||
We have entered into various commitments, largely purchased power, coal and natural gas supply and natural gas transportation contracts. These commitments range from one to 27 years. Costs incurred under these contracts were approximately $402.3 million, $379.4 million and $340.8 million for the years ended December 31, 2014, 2013, and 2012, respectively. As of December 31, 2014, our commitments under these contracts are $206.5 million in 2015, $161.1 million in 2016, $134.9 million in 2017, $107.3 million in 2018, $103.5 million in 2019, and $922.7 million thereafter. These commitments are not reflected in our Consolidated Financial Statements. | ||||||||||||
Hydroelectric License Commitments | ||||||||||||
With the Hydro Transaction, we assumed two Memoranda of Understanding (MOUs) existing with state, federal and private entities. The MOUs are periodically updated and renewed and require us to implement plans to mitigate the impact of the projects on fish, wildlife and their habitats, and to increase recreational opportunities. The MOUs were created to maximize collaboration between the parties and enhance the possibility to receive matching funds from relevant federal agencies. Under these MOUs, we have a remaining commitment to spend approximately $26.0 million between 2015 and 2040. | ||||||||||||
Environmental Matters | ||||||||||||
The operation of electric generating, transmission and distribution facilities, and gas gathering, transportation and distribution facilities, along with the development (involving site selection, environmental assessments, and permitting) and construction of these assets, are subject to extensive federal, state, and local environmental and land use laws and regulations. Our activities involve compliance with diverse laws and regulations that address emissions and impacts to the environment, including air and water, protection of natural resources, avian and wildlife. We monitor federal, state, and local environmental initiatives to determine potential impacts on our financial results. As new laws or regulations are implemented, our policy is to assess their applicability and implement the necessary modifications to our facilities or their operation to maintain ongoing compliance. | ||||||||||||
Our environmental exposure includes a number of components, including remediation expenses related to the cleanup of current or former properties, and costs to comply with changing environmental regulations related to our operations. At present, the majority of our environmental reserve relates to the remediation of former manufactured gas plant sites owned by us. We use a combination of site investigations and monitoring to formulate an estimate of environmental remediation costs for specific sites. Our monitoring procedures and development of actual remediation plans depend not only on site specific information but also on coordination with the different environmental regulatory agencies in our respective jurisdictions; therefore, while remediation exposure exists, it may be many years before costs are incurred. | ||||||||||||
Our liability for environmental remediation obligations is estimated to range between $26.4 million to $35.0 million, primarily for manufactured gas plants discussed below. As of December 31, 2014, we have a reserve of approximately $29.7 million, which has not been discounted. Environmental costs are recorded when it is probable we are liable for the remediation and we can reasonably estimate the liability. Over time, as costs become determinable, we may seek authorization to recover such costs in rates or seek insurance reimbursement as applicable; therefore, although we cannot guarantee regulatory recovery, we do not expect these costs to have a material effect on our consolidated financial position or results of operations. | ||||||||||||
Manufactured Gas Plants - Approximately $22.4 million of our environmental reserve accrual is related to manufactured gas plants. A formerly operated manufactured gas plant located in Aberdeen, South Dakota, has been identified on the Federal Comprehensive Environmental Response, Compensation, and Liability Information System list as contaminated with coal tar residue. We are currently conducting feasibility studies and implementing remedial actions at the Aberdeen site pursuant to work plans approved by the South Dakota Department of Environment and Natural Resources (DENR). Our current reserve for remediation costs at this site is approximately $10.8 million, and we estimate that approximately $8.0 million of this amount will be incurred during the next five years. | ||||||||||||
We also own sites in North Platte, Kearney and Grand Island, Nebraska on which former manufactured gas facilities were located. We are currently working independently to fully characterize the nature and extent of potential impacts associated with these Nebraska sites. Our reserve estimate includes assumptions for site assessment and remedial action work. At present, we cannot determine with a reasonable degree of certainty the nature and timing of any risk-based remedial action at our Nebraska locations. | ||||||||||||
In addition, we own or have responsibility for sites in Butte, Missoula and Helena, Montana on which former manufactured gas plants were located. An investigation conducted at the Missoula site did not require remediation activities, but required preparation of a groundwater monitoring plan. The Butte and Helena sites were placed into the Montana Department of Environmental Quality (MDEQ) voluntary remediation program for cleanup due to soil and groundwater impacts. Voluntary soil and coal tar removals were conducted in the past at the Butte and Helena locations in accordance with MDEQ requirements. We have conducted additional groundwater monitoring at the Butte and Missoula sites and, at this time, we believe natural attenuation should address the conditions at these sites; however, additional groundwater monitoring will be necessary and additional monitoring wells will be installed at the Butte site. Monitoring of groundwater at the Helena site is ongoing and will be necessary for an extended period of time. At this time, we cannot estimate with a reasonable degree of certainty the nature and timing of risk-based remedial action at the Helena site or if any additional actions beyond monitored natural attenuation will be required. | ||||||||||||
Global Climate Change - National and international actions have been initiated to address global climate change and the contribution of emissions of greenhouse gases (GHG) including, most significantly, carbon dioxide. These actions include legislative proposals, Executive and Environmental Protection Agency (EPA) actions at the federal level, actions at the state level, and private party litigation relating to GHG emissions. Coal-fired plants have come under particular scrutiny due to their level of GHG emissions. We have joint ownership interests in four electric generating plants, all of which are coal fired and operated by other companies. We have undivided interests in these facilities and are responsible for our proportionate share of the capital and operating costs while being entitled to our proportionate share of the power generated. | ||||||||||||
While numerous bills have been introduced that address climate change from different perspectives, including through direct regulation of GHG emissions, the establishment of cap and trade programs and the establishment of Federal renewable portfolio standards, Congress has not passed any federal climate change legislation and we cannot predict the timing or form of any potential legislation. In the absence of such legislation, EPA is presently regulating GHG emissions of the very largest emitters, including large power plants, under the Clean Air Act, and specifically under the Prevention of Significant Deterioration (PSD) pre-construction permit, the Title V operating permit programs and the New Source Performance Standards (NSPS). | ||||||||||||
In January, 2014, the EPA reproposed NSPS specifying permissible levels of GHG emissions for newly-constructed fossil fuel-fired electric generating units and in June 2014 proposed performance standards for modified and reconstructed power plants. Also in June, 2014, the EPA proposed the Clean Power Plan (CPP) rule to control carbon dioxide emissions from existing fossil fuel fired electric generating units. The rule proposes the establishment of statewide GHG emission standards for individual states based on the state's potential to shift generation to existing natural gas combined cycle plants, to develop new renewable energy, to achieve demand-side management savings, and to improve performance at existing coal-fired units. Under the proposed CPP, States would be required to submit individual plans for achieving GHG emission standards to EPA by summer, 2016, although under certain circumstances additional time to summer, 2018, would be permitted. The initial performance period for compliance would commence in 2020, with full implementation by 2030. The EPA has indicated that it intends to issue final rules on the NSPS, the performance standards for modified and reconstructed plants and the CPP by midsummer, 2015. | ||||||||||||
On June 23, 2014, the U.S. Supreme Court struck down the EPA's Tailoring Rule, which limited the sources subject to GHG permitting requirements to the largest fossil-fueled power plants, indicating that EPA had exceeded its authority under the Clean Air Act by "rewriting unambiguous statutory terms." However, the decision affirmed EPA's ability to regulate GHG emissions from sources already subject to regulation under the PSD program, which includes most electric generating units. | ||||||||||||
Requirements to reduce GHG emissions from stationary sources could cause us to incur material costs of compliance and increase our costs of procuring electricity. Although there continues to be changes in legislation and regulations that affect GHG emissions from power plants, technology to efficiently capture, remove and/or sequester such emissions may not be available within a timeframe consistent with the implementation of such requirements. In addition, physical impacts of climate change may present potential risks for severe weather, such as droughts, floods and tornadoes, in the locations where we operate or have interests. We cannot predict with any certainty whether these risks will have a material impact on our operations. | ||||||||||||
Coal Combustion Residuals (CCRs) - In December 2014, the EPA issued a final rule regulating the disposal and management of CCRs as a solid waste under Subtitle D of the Resource Conservation and Recovery Act (RCRA). CCRs include fly ash, bottom ash and scrubber wastes. The rule imposes some additional recordkeeping and operating requirements, but does not regulate the beneficial use of CCRs. We continue to review the potential costs of complying with the new CCR rule and cannot currently estimate such costs. Legal challenges to the final rule and EPA’s determination that CCR is not a hazardous waste are expected and legislation has been introduced in Congress to regulate coal ash. We cannot predict at this time the final outcome of any appeal of the CCR regulations or legislation and what impact, if any, they would have on us. | ||||||||||||
Water Intakes and Discharges - Section 316(b) of the Federal Clean Water Act (CWA) requires that the location, design, construction and capacity of any cooling water intake structure reflect the “best technology available (BTA)” for minimizing environmental impacts. In May, 2014, the EPA issued a final rule applicable to facilities that withdraw at least 2 million gallons per day of cooling water from waters of the US and use at least 25 percent of the water exclusively for cooling purposes. The final rule gives options for meeting BTA, and provides a flexible compliance approach. In August 2014, EPA published the final rule establishing national requirements applicable to cooling water intake structures, which became effective in October, 2014. Under the rule, permits required for existing facilities will be developed by the individual states and additional capital and/or increased operating costs may be required to comply with future water permit requirements. Challenges to the final cooling water intake rule have been filed by industry groups and by environmental groups in various appellate courts. | ||||||||||||
In April 2013, the EPA proposed CWA regulations to address mercury, arsenic, lead, and selenium in water discharged from power plants. The proposed regulations include a variety of options for whether and how these different waste streams should be treated. The EPA is reviewing public comments on these options prior to enacting final regulations. Under the proposed approach, new requirements for existing power plants would be phased in between 2017 and 2022. The EPA is under a modified consent decree to take final action by September 30, 2015. The EPA estimates that over half of the existing power plants will not incur costs under any of the proposed options because many power plants already have the technology and procedures in place to meet the proposed pollution control standards; however, it is too early to determine whether the impacts of these rules will be material. | ||||||||||||
Clean Air Act Rules and Associated Emission Control Equipment Expenditures | ||||||||||||
The EPA has proposed or issued a number of rules under different provisions of the Clean Air Act that could require the installation of emission control equipment at the generation plants where we have joint ownership. | ||||||||||||
The Clean Air Visibility Rule was issued by the EPA in June 2005, to address regional haze in national parks and wilderness areas across the United States. The Clean Air Visibility Rule requires the installation and operation of Best Available Retrofit Technology (BART) to achieve emissions reductions from designated sources (including certain electric generating units) that are deemed to cause or contribute to visibility impairment in such 'Class I' areas. | ||||||||||||
In December 2011, the EPA issued a final rule relating to Mercury and Air Toxics Standards (MATS). Among other things, the MATS set stringent emission limits for acid gases, mercury, and other hazardous air pollutants from new and existing electric generating units. Facilities that are subject to the MATS must come into compliance by April 2015, unless a one year extension is granted on a case-by-case basis. In April 2014, the U.S. Court of Appeals for the D.C. Circuit upheld the MATS rule. The decision was appealed by 23 states and industry groups to the Supreme Court, and in November, 2014 the Court agreed to hear the case. Oral argument will likely be scheduled for the spring and the Supreme Court is expected to issue a ruling by June, 2015. | ||||||||||||
In July 2011, the EPA finalized the Cross-State Air Pollution Rule (CSAPR) to reduce emissions from electric generating units that interfere with the ability of downwind states to achieve ambient air quality standards. Under CSAPR, significant reductions in emissions of nitrogen oxide (NOx) and sulfur dioxide (SO2) were to be required in certain states beginning in 2012. In April 2014 the Supreme Court reversed and remanded the 2012 decision of the U.S. Court of Appeals for the D.C. Circuit that had vacated the CSAPR. Litigation of the remaining CSAPR lawsuits continues, with briefings and oral argument set for 2015. | ||||||||||||
In October 2013, the Supreme Court denied certiorari in Luminant Generation Co v. EPA, which challenged the EPA’s current approach to regulating air emissions during startup, shutdown and malfunction (SSM) events. As a result, fossil fuel power plants may need to address SSM in their permits to reduce the risk of enforcement or citizen actions. | ||||||||||||
In September 2012, a final Federal Implementation Plan for Montana was published in the Federal Register to address regional haze. As finalized, Colstrip Unit 4 does not have to improve removal efficiency for pollutants that contribute to regional haze. By 2018, Montana, or EPA, must develop a revised Plan that demonstrates reasonable progress toward eliminating man made emissions of visibility impairing pollutants, which could impact Colstrip Unit 4. In November 2012, PPL Montana, the operator of Colstrip, as well as environmental groups (National Parks Conservation Association, Montana Environmental Information Center, and Sierra Club) jointly filed a petition for review of the Federal Implementation Plan in the U.S. Court of Appeals for the Ninth Circuit. Montana Environmental Information Center and Sierra Club have challenged the EPA's decision not to require any emissions reductions from Colstrip Units 3 and 4. The Ninth Circuit held oral argument on the petition on May 16, 2014, but no decision has been issued and at this time, we cannot predict or determine the timing or outcome of this petition. | ||||||||||||
We have joint ownership in generation plants located in South Dakota, North Dakota, Iowa and Montana that are or may become subject to various regulations that have been issued or proposed under the Clean Air Act, as discussed below. | ||||||||||||
South Dakota. The South Dakota DENR determined that the Big Stone Plant, of which we have a 23.4% ownership, is subject to the BART requirements of the Regional Haze Rule. South Dakota DENR's State Implementation Plan (SIP) was approved by the EPA in May 2012. Under the SIP, the Big Stone plant must install and operate a new BART compliant air quality control system (AQCS) to reduce SO2, NOx and particulate emissions as expeditiously as practicable, but no later than five years after the EPA's approval of the SIP. The estimated total project cost for the AQCS at the Big Stone plant is approximately $384 million (our share is 23.4%). As of December 31, 2014, we have capitalized costs of approximately $71.8 million related to this project, which is expected to be operational by the end of 2015. | ||||||||||||
Our incremental capital expenditure projections include amounts related to our share of the BART at Big Stone based on current estimates. We could, however, face additional capital or financing costs. We will seek to recover any such costs through the regulatory process. The SDPUC has historically allowed timely recovery of the costs of environmental improvements; however, there is no precedent on a project of this size. | ||||||||||||
Based on the finalized MATS, Big Stone will meet the requirements by installing the AQCS system and using activated carbon injection for mercury control. In August 2013, the South Dakota DENR granted Big Stone a one year extension to comply with MATS, such that the new compliance deadline is April 16, 2016. New mercury emissions monitoring equipment will also be required. | ||||||||||||
North Dakota. The North Dakota Regional Haze SIP requires the Coyote generating facility, of which we have 10% ownership, to reduce its NOx emissions. Coyote must install control equipment to limit its NOx emissions to 0.5 pounds per million Btu as calculated on a 30-day rolling average basis, including periods of start-up and shutdown, beginning on July 1, 2018. The current estimate of the total cost of the project is approximately $9.0 million (our share is 10.0%). | ||||||||||||
Based on the finalized MATS, Coyote will meet the requirements by using activated carbon injection for mercury control. | ||||||||||||
Iowa. The Neal #4 generating facility, of which we have an 8.7% ownership, installed a scrubber, a baghouse, activated carbon injection and a selective non-catalytic reduction system to comply with national ambient air quality standards and the MATS. The project was substantially completed in 2013. | ||||||||||||
Montana. Colstrip Unit 4, a coal fired generating facility in which we have a 30% interest, is currently controlling emissions of mercury under regulations issued by the State of Montana, which are stricter than the Federal MATS. The owners do not believe additional equipment will be necessary to meet the MATS for mercury, and anticipate meeting all other expected MATS emissions limitations required by the rule without additional costs except those costs related to increased monitoring frequency. These additional costs are not expected to be significant. | ||||||||||||
See 'Legal Proceedings - Colstrip Litigation' below for discussion of Sierra Club litigation. | ||||||||||||
Other - We continue to manage equipment containing polychlorinated biphenyl (PCB) oil in accordance with the EPA's Toxic Substance Control Act regulations. We will continue to use certain PCB-contaminated equipment for its remaining useful life and will, thereafter, dispose of the equipment according to pertinent regulations that govern the use and disposal of such equipment. | ||||||||||||
We routinely engage the services of a third-party environmental consulting firm to assist in performing a comprehensive evaluation of our environmental reserve. Based upon information available at this time, we believe that the current environmental reserve properly reflects our remediation exposure for the sites currently and previously owned by us. The portion of our environmental reserve applicable to site remediation may be subject to change as a result of the following uncertainties: | ||||||||||||
• | We may not know all sites for which we are alleged or will be found to be responsible for remediation; and | |||||||||||
• | Absent performance of certain testing at sites where we have been identified as responsible for remediation, we cannot estimate with a reasonable degree of certainty the total costs of remediation. | |||||||||||
LEGAL PROCEEDINGS | ||||||||||||
Colstrip Litigation | ||||||||||||
On March 6, 2013, the Sierra Club and the MEIC (Plaintiffs) filed suit in the United States District Court for the District of Montana (Court) against the six individual owners of Colstrip, including us, as well as the operator or managing agent of the station (Defendants). On September 27, 2013, Plaintiffs filed an Amended Complaint for Injunctive and Declaratory Relief. The original complaint included 39 claims for relief based upon alleged violations of the Clean Air Act and the Montana State Implementation Plan. The Amended Complaint dropped claims associated with projects completed before 2001, the Title V claims and the opacity claims. The Amended Complaint alleged a total of 23 claims covering 64 projects. | ||||||||||||
In the Amended Complaint, Plaintiffs identified physical changes made at Colstrip between 2001 and 2012, that Plaintiffs allege (a) have increased emissions of SO2, NOx and particulate matter and (b) were “major modifications” subject to permitting requirements under the Clean Air Act. They also alleged violations of the requirements related to Part 70 Operating Permits. | ||||||||||||
On May 3, 2013, the Colstrip owners and operator filed a partial motion to dismiss, seeking dismissal of 36 of the 39 claims asserted in the original complaint. The motion was not ruled upon and the Colstrip owners filed a second motion to dismiss the Amended Complaint on October 11, 2013, incorporating parts of the first motion and supplementing it with new authorities and with regard to new claims contained in the Amended Complaint. | ||||||||||||
On September 12, 2013, Plaintiffs filed a motion for partial summary judgment as to the applicable method for calculating emissions increases from modifications. | ||||||||||||
The parties filed a joint notice (Notice) on April 21, 2014 that advised the Court of Plaintiffs’ intent to file a Second Amended Complaint which dropped claims relating to 52 projects, and added one additional project. At the joint request of the parties, the Court extended various deadlines previously set and set a bench trial date for the liability portion of the case for June 8, 2015. | ||||||||||||
On May 6, 2014, the Court held oral argument on Defendants' motion to dismiss and on Plaintiffs’ motion for summary judgment on the applicable legal standard. On May 22, 2014, the Magistrate issued findings and recommendations, which denied Plaintiffs’ motion for summary judgment and denied most of the Colstrip owners’ motion to dismiss, but dismissed seven of Plaintiffs’ “best available control technology” claims and dismissed two of Plaintiffs' claims for injunctive relief. The Plaintiffs filed an objection to the Magistrate's findings and recommendations with the U.S. Federal District Court Judge, and on August 13, 2014, the Court adopted the Magistrate's findings and conclusions. | ||||||||||||
On August 27, 2014, the Plaintiffs filed their Second Amended Complaint, which alleges a total of 13 claims covering eight projects and seeks injunctive and declaratory relief, civil penalties (including $100,000 of civil penalties to be used for beneficial environmental projects), and recovery of their attorney fees. Defendants filed their Answer to the Second Amended Complaint on September 26, 2014. Since filing the Second Amended Complaint, Plaintiffs have indicated that they are no longer pursuing four claims involving two projects thereby reducing their total claims to nine relating to six projects. The four dropped claims have not yet been formally dismissed by the Court. A Bench Trial has been set for November 16, 2015. | ||||||||||||
We intend to vigorously defend this lawsuit. Due to the preliminary nature of the lawsuit, at this time, we cannot predict an outcome, nor is it reasonably possible to estimate the amount or range of loss, if any, that would be associated with an adverse decision. | ||||||||||||
Billings Refinery Outage Claim | ||||||||||||
In August 2014, we received a demand letter from a refinery in Billings claiming that it had sustained damages of approximately $48.5 million as a result of a January 2014 electrical outage. We dispute the claim and intend to vigorously defend against it. We have reported the refinery's claim to our insurance carrier under our primary insurance policy, which has a $2 million retention. This matter is in the initial stages and we cannot predict an outcome or estimate the amount or range of loss, if any, that would be associated with an adverse result. | ||||||||||||
Other Legal Proceedings | ||||||||||||
We are also subject to various other legal proceedings, governmental audits and claims that arise in the ordinary course of business. In the opinion of management, the amount of ultimate liability with respect to these other actions will not materially affect our financial position, results of operations, or cash flows. |
Segment_and_Related_Informatio
Segment and Related Information | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||
Segment Reporting [Abstract] | ||||||||||||||||||||
Segment and Related Information | Segment and Related Information | |||||||||||||||||||
Our reportable business segments are primarily engaged in the electric and natural gas business. The remainder of our operations are presented as other, which primarily consists of unallocated corporate costs. | ||||||||||||||||||||
We evaluate the performance of these segments based on gross margin. The accounting policies of the operating segments are the same as the parent except that the parent allocates some of its operating expenses to the operating segments according to a methodology designed by management for internal reporting purposes and involves estimates and assumptions. | ||||||||||||||||||||
Financial data for the business segments are as follows (in thousands): | ||||||||||||||||||||
December 31, 2014 | Electric | Gas | Other | Eliminations | Total | |||||||||||||||
Operating revenues | $ | 877,967 | 326,896 | $ | — | $ | — | $ | 1,204,863 | |||||||||||
Cost of sales | 348,640 | 133,951 | — | — | 482,591 | |||||||||||||||
Gross margin | 529,327 | 192,945 | — | — | 722,272 | |||||||||||||||
Operating, general and administrative | 200,186 | 91,437 | 14,263 | — | 305,886 | |||||||||||||||
Property and other taxes | 84,759 | 29,821 | 12 | — | 114,592 | |||||||||||||||
Depreciation | 94,813 | 28,930 | 33 | — | 123,776 | |||||||||||||||
Operating income (loss) | 149,569 | 42,757 | (14,308 | ) | — | 178,018 | ||||||||||||||
Interest expense | (60,424 | ) | (10,618 | ) | (6,760 | ) | — | (77,802 | ) | |||||||||||
Other income | 4,758 | 1,324 | 4,116 | — | 10,198 | |||||||||||||||
Income tax (expense) benefit | (1,490 | ) | (7,463 | ) | 19,225 | — | 10,272 | |||||||||||||
Net income | $ | 92,413 | $ | 26,000 | $ | 2,273 | $ | — | $ | 120,686 | ||||||||||
Total assets | $ | 3,442,659 | $ | 1,522,902 | $ | 8,382 | $ | — | $ | 4,973,943 | ||||||||||
Capital expenditures | $ | 233,538 | $ | 36,846 | $ | — | $ | — | $ | 270,384 | ||||||||||
December 31, 2013 | Electric | Gas | Other | Eliminations | Total | |||||||||||||||
Operating revenues | $ | 865,239 | $ | 287,605 | $ | 1,675 | $ | — | $ | 1,154,519 | ||||||||||
Cost of sales | 358,688 | 120,858 | — | — | 479,546 | |||||||||||||||
Gross margin | 506,551 | 166,747 | 1,675 | — | 674,973 | |||||||||||||||
Operating, general and administrative | 195,100 | 78,822 | 11,647 | — | 285,569 | |||||||||||||||
Property and other taxes | 78,536 | 26,993 | 11 | — | 105,540 | |||||||||||||||
Depreciation | 89,728 | 23,070 | 33 | — | 112,831 | |||||||||||||||
Operating income (loss) | 143,187 | 37,862 | (10,016 | ) | — | 171,033 | ||||||||||||||
Interest expense | (57,920 | ) | (9,993 | ) | (2,573 | ) | — | (70,486 | ) | |||||||||||
Other income | 4,061 | 1,239 | 2,437 | — | 7,737 | |||||||||||||||
Income tax (expense) benefit | (13,905 | ) | (4,134 | ) | 3,738 | — | (14,301 | ) | ||||||||||||
Net income (loss) | $ | 75,423 | $ | 24,974 | $ | (6,414 | ) | $ | — | $ | 93,983 | |||||||||
Total assets | $ | 2,583,554 | $ | 1,117,861 | $ | 13,845 | — | $ | 3,715,260 | |||||||||||
Capital expenditures | $ | 198,032 | $ | 32,422 | $ | — | — | $ | 230,454 | |||||||||||
December 31, 2012 | Electric | Gas | Other | Eliminations | Total | |||||||||||||||
Operating revenues | $ | 805,554 | $ | 263,394 | $ | 1,394 | $ | — | $ | 1,070,342 | ||||||||||
Cost of sales | 277,826 | 117,608 | — | — | 395,434 | |||||||||||||||
Gross margin | 527,728 | 145,786 | 1,394 | — | 674,908 | |||||||||||||||
Operating, general and administrative | 187,599 | 75,971 | 6,396 | — | 269,966 | |||||||||||||||
MSTI impairment | 24,039 | — | — | — | 24,039 | |||||||||||||||
Property and other taxes | 72,755 | 24,907 | 12 | — | 97,674 | |||||||||||||||
Depreciation | 86,559 | 19,452 | 33 | — | 106,044 | |||||||||||||||
Operating income (loss) | 156,776 | 25,456 | (5,047 | ) | — | 177,185 | ||||||||||||||
Interest expense | (55,118 | ) | (9,063 | ) | (881 | ) | — | (65,062 | ) | |||||||||||
Other income | 2,630 | 1,633 | 109 | — | 4,372 | |||||||||||||||
Income tax (expense) benefit | (22,298 | ) | (692 | ) | 4,901 | — | (18,089 | ) | ||||||||||||
Net income | $ | 81,990 | $ | 17,334 | $ | (918 | ) | $ | — | $ | 98,406 | |||||||||
Total assets | 2,442,602 | $ | 1,032,259 | $ | 10,672 | $ | — | $ | 3,485,533 | |||||||||||
Capital expenditures | 178,325 | $ | 40,909 | $ | — | $ | — | $ | 219,234 | |||||||||||
Quarterly_Financial_Data_Unaud
Quarterly Financial Data (Unaudited) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | |||||||||||||||||
Quarterly Financial Data | Quarterly Financial Data (Unaudited) | ||||||||||||||||
Our quarterly financial information has not been audited, but, in management's opinion, includes all adjustments necessary for a fair presentation. Our business is seasonal in nature with the peak sales periods generally occurring during the summer and winter months. Accordingly, comparisons among quarters of a year may not represent overall trends and changes in operations. Amounts presented are in thousands, except per share data: | |||||||||||||||||
2014 | First | Second | Third | Fourth | |||||||||||||
Operating revenues | $ | 369,723 | $ | 270,281 | $ | 251,912 | $ | 312,947 | |||||||||
Operating income | 71,350 | 25,097 | 30,987 | 50,584 | |||||||||||||
Net income | $ | 45,580 | $ | 7,746 | $ | 30,191 | $ | 37,169 | |||||||||
Average common shares outstanding | 38,856 | 39,137 | 39,141 | 43,451 | |||||||||||||
Income per average common share (basic): | |||||||||||||||||
Net income | $ | 1.17 | $ | 0.2 | $ | 0.77 | $ | 0.87 | |||||||||
Income per average common share (diluted): | |||||||||||||||||
Net income | $ | 1.17 | $ | 0.2 | $ | 0.77 | $ | 0.85 | |||||||||
Dividends per share | $ | 0.4 | $ | 0.4 | $ | 0.4 | $ | 0.4 | |||||||||
Stock price: | |||||||||||||||||
High | $ | 47.86 | $ | 52.49 | $ | 52.7 | $ | 58.7 | |||||||||
Low | 42.64 | 45.49 | 45.3 | 45.14 | |||||||||||||
Quarter-end close | 47.43 | 52.19 | 45.36 | 56.58 | |||||||||||||
2013 | First | Second | Third | Fourth | |||||||||||||
Operating revenues | $ | 313,020 | $ | 260,161 | $ | 262,248 | $ | 319,090 | |||||||||
Operating income | 57,010 | 32,660 | 31,401 | 49,962 | |||||||||||||
Net income | $ | 37,902 | $ | 14,341 | $ | 15,647 | $ | 26,093 | |||||||||
Average common shares outstanding | 37,384 | 38,092 | 38,459 | 38,626 | |||||||||||||
Income per average common share (basic): | 0 | 0 | |||||||||||||||
Net income | $ | 1.01 | $ | 0.37 | $ | 0.41 | $ | 0.67 | |||||||||
Income per average common share (diluted): | |||||||||||||||||
Net income | $ | 1.01 | $ | 0.37 | $ | 0.4 | $ | 0.68 | |||||||||
Dividends per share | $ | 0.38 | $ | 0.38 | $ | 0.38 | $ | 0.38 | |||||||||
Stock price: | |||||||||||||||||
High | $ | 40.35 | $ | 43.17 | $ | 45.85 | $ | 47.18 | |||||||||
Low | 35.06 | 38.12 | 39.08 | 41.31 | |||||||||||||
Quarter-end close | 39.86 | 39.9 | 44.92 | 43.32 | |||||||||||||
Nature_of_Operations_and_Basis1
Nature of Operations and Basis of Consolidation (Policies) | 12 Months Ended |
Dec. 31, 2014 | |
Nature of Operations and Basis of Consolidation [Abstract] | |
Variable Interest Entities | Variable Interest Entities |
A reporting company is required to consolidate a variable interest entity (VIE) as its primary beneficiary, which means it has a controlling financial interest, when it has both the power to direct the activities of the VIE that most significantly impact the VIE's economic performance, and the obligation to absorb losses or the right to receive benefits from the VIE that could potentially be significant to the VIE. An entity is considered to be a VIE when its total equity investment at risk is not sufficient to permit the entity to finance its activities without additional subordinated financial support, or its equity investors, as a group, lack the characteristics of having a controlling financial interest. The determination of whether a company is required to consolidate an entity is based on, among other things, an entity's purpose and design and a company's ability to direct the activities of the entity that most significantly impact the entity's economic performance. | |
Certain long-term purchase power and tolling contracts may be considered variable interests. We have various long-term purchase power contracts with other utilities and certain QF plants. We identified one QF contract that may constitute a VIE. We entered into a power purchase contract in 1984 with this 35 MW coal-fired QF to purchase substantially all of the facility's capacity and electrical output over a substantial portion of its estimated useful life. We absorb a portion of the facility's variability through annual changes to the price we pay per MWH (energy payment). After making exhaustive efforts, we have been unable to obtain the information from the facility necessary to determine whether the facility is a VIE or whether we are the primary beneficiary of the facility. The contract with the facility contains no provision which legally obligates the facility to release this information. We have accounted for this QF contract as an executory contract. Based on the current contract terms with this QF, our estimated gross contractual payments aggregate approximately $262.9 million through 2024. For further discussion of our gross QF liability, see Note 20 - Commitments and Contingencies. During the years ended December 31, 2014, 2013 and 2012 purchases from this QF were approximately $24.4 million, $23.8 million, and $21.0 million, respectively. |
Significant_Accounting_Policie1
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2014 | |
Accounting Policies [Abstract] | |
Use of Estimates | Use of Estimates |
The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Estimates are used for such items as long-lived asset values and impairment charges, long-lived asset useful lives, tax provisions, asset retirement obligations, uncollectible accounts, our QF liability, environmental costs, unbilled revenues and actuarially determined benefit costs. We revise the recorded estimates when we receive better information or when we can determine actual amounts. Those revisions can affect operating results. | |
Revenue Recognition | Revenue Recognition |
Customers are billed monthly on a cycle basis. To match revenues with associated expenses, we accrue unbilled revenues for electrical and natural gas services delivered to customers, but not yet billed at month-end. | |
Cash Equivalents | Cash Equivalents |
We consider all highly liquid investments with maturities of three months or less at the time of purchase to be cash equivalents. | |
Restricted cash | Restricted Cash |
Restricted cash consists primarily of funds held in trust accounts to satisfy the requirements of certain stipulation agreements and insurance reserve requirements. | |
Accounts Receivable, Net | Accounts Receivable, Net |
Accounts receivable are net of allowances for uncollectible accounts of $4.3 million and $4.5 million at December 31, 2014 and December 31, 2013, respectively. Receivables include unbilled revenues of $70.3 million and $74.3 million at December 31, 2014 and December 31, 2013, respectively. | |
Regulation of Utility Operations | Regulation of Utility Operations |
Our regulated operations are subject to the provisions of ASC 980. Regulated accounting is appropriate provided that (i) rates are established by or subject to approval by independent, third-party regulators, (ii) rates are designed to recover the specific enterprise's cost of service, and (iii) in view of demand for service, it is reasonable to assume that rates are set at levels that will recover costs and can be charged to and collected from customers. | |
Our Consolidated Financial Statements reflect the effects of the different rate making principles followed by the jurisdictions regulating us. The economic effects of regulation can result in regulated companies recording costs that have been, or are expected to be, allowed in the ratemaking process in a period different from the period in which the costs would be charged to expense by an unregulated enterprise. When this occurs, costs are deferred as regulatory assets and recorded as expenses in the periods when those same amounts are reflected in rates. Additionally, regulators can impose liabilities upon a regulated company for amounts previously collected from customers and for amounts that are expected to be refunded to customers (regulatory liabilities). | |
If we were required to terminate the application of these provisions to our regulated operations, all such deferred amounts would be recognized in the Consolidated Income Statements at that time. This would result in a charge to earnings, net of applicable income taxes, which could be material. In addition, we would determine any impairment to the carrying costs of deregulated plant and inventory assets. | |
Derivative Financial Instruments | Derivative Financial Instruments |
We account for derivative instruments in accordance with ASC 815, Derivatives and Hedging. All derivatives are recognized in the Consolidated Balance Sheets at their fair value unless they qualify for certain exceptions, including the normal purchases and normal sales exception. Additionally, derivatives that qualify and are designated for hedge accounting are classified as either hedges of the fair value of a recognized asset or liability or of an unrecognized firm commitment (fair-value hedge) or hedges of a forecasted transaction or the variability of cash flows to be received or paid related to a recognized asset or liability (cash-flow hedge). For fair-value hedges, changes in fair values for both the derivative and the underlying hedged exposure are recognized in earnings each period. For cash-flow hedges, the portion of the derivative gain or loss that is effective in offsetting the change in the cost or value of the underlying exposure is deferred in accumulated other comprehensive income (AOCI) and later reclassified into earnings when the underlying transaction occurs. Gains and losses from the ineffective portion of any hedge are recognized in earnings immediately. For other derivative contracts that do not qualify or are not designated for hedge accounting, changes in the fair value of the derivatives are recognized in earnings each period. Cash inflows and outflows related to derivative instruments are included as a component of operating, investing or financing cash flows in the Consolidated Statements of Cash Flows, depending on the underlying nature of the hedged items. | |
Revenues and expenses on contracts that qualify are designated as normal purchases and normal sales and are recognized when the underlying physical transaction is completed. While these contracts are considered derivative financial instruments, they are not required to be recorded at fair value, but on an accrual basis of accounting. Normal purchases and normal sales are contracts where physical delivery is probable, quantities are expected to be used or sold in the normal course of business over a reasonable period of time, and price is not tied to an unrelated underlying derivative. As part of our regulated electric and gas operations, we enter into contracts to buy and sell energy to meet the requirements of our customers. These contracts include short-term and long-term commitments to purchase and sell energy in the retail and wholesale markets with the intent and ability to deliver or take delivery. If it were determined that a transaction designated as a normal purchase or a normal sale no longer met the exceptions, the fair value of the related contract would be reflected as an asset or liability and immediately recognized through earnings. See Note 9, Risk Management and Hedging Activities for further discussion of our derivative activity. | |
Property, Plant and Equipment | Property, Plant and Equipment |
Property, plant and equipment are stated at original cost, including contracted services, direct labor and material, AFUDC, and indirect charges for engineering, supervision and similar overhead items. All expenditures for maintenance and repairs of utility property, plant and equipment are charged to the appropriate maintenance expense accounts. A betterment or replacement of a unit of property is accounted for as an addition and retirement of utility plant. At the time of such a retirement, the accumulated provision for depreciation is charged with the original cost of the property retired and also for the net cost of removal. Also included in plant and equipment are assets under capital lease, which are stated at the present value of minimum lease payments. | |
AFUDC represents the cost of financing construction projects with borrowed funds and equity funds. While cash is not realized currently from such allowance, it is realized under the ratemaking process over the service life of the related property through increased revenues resulting from a higher rate base and higher depreciation expense. The component of AFUDC attributable to borrowed funds is included as a reduction to interest expense, while the equity component is included in other income. We determine the rate used to compute AFUDC in accordance with a formula established by the FERC. This rate averaged 8.0%, 8.1%, and 8.0%, for Montana and South Dakota for 2014, 2013, and 2012, respectively. AFUDC capitalized totaled $10.8 million for the year ended December 31, 2014, $8.2 million for the year ended December 31, 2013 and $7.9 million for the year ended December 31, 2012 for Montana and South Dakota combined. | |
We record provisions for depreciation at amounts substantially equivalent to calculations made on a straight-line method by applying various rates based on useful lives of the various classes of properties (ranging from three to 50 years) determined from engineering studies. As a percentage of the depreciable utility plant at the beginning of the year, our provision for depreciation of utility plant was approximately 2.9%, 3.2%, and 3.3% for 2014, 2013, and 2012, respectively. | |
Depreciation rates include a provision for our share of the estimated costs to decommission our jointly owned plants at the end of the useful life. The annual provision for such costs is included in depreciation expense, while the accumulated provisions are included in noncurrent regulatory liabilities. | |
Income Taxes | Income Taxes |
Exposures exist related to various tax filing positions, which may require an extended period of time to resolve and may result in income tax adjustments by taxing authorities. We have reduced deferred tax assets or established liabilities based on our best estimate of future probable adjustments related to these exposures. On a quarterly basis, we evaluate exposures in light of any additional information and make adjustments as necessary to reflect the best estimate of the future outcomes. We believe our deferred tax assets and established liabilities are appropriate for estimated exposures; however, actual results may differ from these estimates. The resolution of tax matters in a particular future period could have a material impact on our Consolidated Income Statements and provision for income taxes. | |
Environmental Costs | Environmental Costs |
We record environmental costs when it is probable we are liable for the costs and we can reasonably estimate the liability. We may defer costs as a regulatory asset if there is precedent for recovering similar costs from customers in rates. Otherwise, we expense the costs. If an environmental cost is related to facilities we currently use, such as pollution control equipment, then we may capitalize and depreciate the costs over the remaining life of the asset, assuming the costs are recoverable in future rates or future cash flows. | |
Our remediation cost estimates are based on the use of an environmental consultant, our experience, our assessment of the current situation and the technology currently available for use in the remediation. We regularly adjust the recorded costs as we revise estimates and as remediation proceeds. If we are one of several designated responsible parties, then we estimate and record only our share of the cost. | |
Business Combinations | Business Combination |
Our November 2014 acquisition of hydro generating assets was accounted for using business combination accounting. Under this method, the purchase price paid by the acquirer is allocated to the assets acquired and liabilities assumed as of the acquisition date based on their fair value. For additional information see Note 3 - Hydro Transaction. |
Significant_Accounting_Policie2
Significant Accounting Policies (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Accounting Policies [Abstract] | ||||||||||||
Inventories | Inventories are stated at average cost. Inventory consisted of the following (in thousands): | |||||||||||
December 31, | ||||||||||||
2014 | 2013 | |||||||||||
Materials and supplies | $ | 30,672 | $ | 28,263 | ||||||||
Storage gas and fuel | 24,422 | 27,346 | ||||||||||
$ | 55,094 | $ | 55,609 | |||||||||
Other Noncurrent Liabilties | Other noncurrent liabilities consisted of the following (in thousands): | |||||||||||
December 31, | ||||||||||||
2014 | 2013 | |||||||||||
Pension and other employee benefits | $ | 137,377 | $ | 57,140 | ||||||||
Future QF obligation, net | 136,893 | 136,448 | ||||||||||
Environmental | 28,060 | 28,194 | ||||||||||
Customer advances | 30,001 | 27,371 | ||||||||||
Other | 50,158 | 43,471 | ||||||||||
$ | 382,489 | $ | 292,624 | |||||||||
Supplemental Cash Flow Information | Supplemental Cash Flow Information | |||||||||||
Year Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
(in thousands) | ||||||||||||
Cash paid for: | ||||||||||||
Income taxes | $ | 35 | $ | 50 | $ | 2,944 | ||||||
Interest | 63,482 | 57,789 | 51,271 | |||||||||
Significant non-cash transactions: | ||||||||||||
Capital expenditures included in trade accounts payable | 8,555 | 12,025 | 13,136 | |||||||||
Hydro_Acquisition_Tables
Hydro Acquisition (Tables) | 12 Months Ended | |||
Dec. 31, 2014 | ||||
Purchase Price Allocation [Abstract] | ||||
Purchase price allocation [Table Text Block] | The purchase price was allocated based on the estimated fair values of the assets acquired and liabilities assumed at the date of the acquisition as follows: | |||
Purchase Price Allocation | (in millions) | |||
Assets Acquired | ||||
Inventory | $ | 0.2 | ||
Property Plant and Equipment | 899.6 | |||
Other Prepayments | 4.5 | |||
Total Assets Acquired | $ | 904.3 | ||
Liabilities Assumed | ||||
Other Current Liabilities | $ | 0.4 | ||
Other Deferred Credits | 0.4 | |||
Total Liabilities Assumed | $ | 0.8 | ||
Total Purchase Price | $ | 903.5 | ||
Regulatory_Assets_and_Liabilit1
Regulatory Assets and Liabilities (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Regulatory Assets and Liabilities Disclosure [Abstract] | |||||||||||||
Schedule of Regulatory Assets And Liabilities | |||||||||||||
Note Reference | Remaining Amortization Period | December 31, | |||||||||||
2014 | 2013 | ||||||||||||
(in thousands) | |||||||||||||
Pension | 16 | Undetermined | $ | 139,050 | $ | 58,474 | |||||||
Employee related benefits | 16 | Undetermined | 19,080 | 17,700 | |||||||||
Distribution infrastructure projects | 3 Years | 9,407 | 12,543 | ||||||||||
Environmental clean-up | 20 | Various | 13,741 | 14,924 | |||||||||
Supply costs | 1 Year | 29,200 | 17,875 | ||||||||||
Income taxes | 13 | Plant Lives | 263,764 | 201,808 | |||||||||
Deferred financing costs | Various | 12,151 | 13,919 | ||||||||||
State & local taxes & fees | Various | 5,319 | 6,582 | ||||||||||
Other | — | Various | 11,419 | 10,846 | |||||||||
Total regulatory assets | $ | 503,131 | $ | 354,671 | |||||||||
Removal cost | 7 | Various | $ | 351,676 | $ | 336,613 | |||||||
Gas storage sales | 25 Years | 10,410 | 10,831 | ||||||||||
Supply costs | 1 Year | 14,569 | 11,493 | ||||||||||
Deferred revenue | 4 | 1 Year | 36,592 | 33,400 | |||||||||
Environmental clean-up | Various | 2,501 | 1,194 | ||||||||||
State & local taxes & fees | 1 Year | 511 | 551 | ||||||||||
Other | Various | 2,138 | 377 | ||||||||||
Total regulatory liabilities | $ | 418,397 | $ | 394,459 | |||||||||
Property_Plant_and_Equipment_T
Property, Plant and Equipment (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2014 | ||||||||||||||||
Property, Plant and Equipment [Abstract] | ||||||||||||||||
Major classifications of property, plant and equipment | The following table presents the major classifications of our property, plant and equipment (in thousands): | |||||||||||||||
Estimated Useful Life | December 31, | |||||||||||||||
2014 | 2013 | |||||||||||||||
(years) | (in thousands) | |||||||||||||||
Land, land rights and easements | 54 – 96 | $ | 130,816 | $ | 128,123 | |||||||||||
Building and improvements | 27 – 64 | 168,041 | 163,852 | |||||||||||||
Transmission, distribution, and storage | 15 – 85 | 2,579,861 | 2,448,821 | |||||||||||||
Generation | 25 – 50 | 1,044,764 | 533,450 | |||||||||||||
Plant acquisition adjustment | 34 – 50 | 654,835 | 204,754 | |||||||||||||
Other | 2 – 45 | 326,211 | 308,345 | |||||||||||||
Construction work in process | –— | 221,868 | 104,891 | |||||||||||||
5,126,396 | 3,892,236 | |||||||||||||||
Less accumulated depreciation | (1,368,388 | ) | (1,202,108 | ) | ||||||||||||
$ | 3,758,008 | $ | 2,690,128 | |||||||||||||
Schedule of jointly owned utility plants | Information relating to our ownership interest in these facilities is as follows (in thousands): | |||||||||||||||
Big Stone | Neal #4 | Coyote | Colstrip Unit 4 (MT) | |||||||||||||
(SD) | (IA) | (ND) | ||||||||||||||
December 31, 2014 | ||||||||||||||||
Ownership percentages | 23.4 | % | 8.7 | % | 10 | % | 30 | % | ||||||||
Plant in service | $ | 61,628 | $ | 59,579 | $ | 46,045 | $ | 292,806 | ||||||||
Accumulated depreciation | 46,741 | 27,742 | 36,649 | 72,976 | ||||||||||||
December 31, 2013 | ||||||||||||||||
Ownership percentages | 23.4 | % | 8.7 | % | 10 | % | 30 | % | ||||||||
Plant in service | $ | 61,186 | $ | 57,633 | $ | 46,003 | $ | 290,163 | ||||||||
Accumulated depreciation | 45,792 | 29,841 | 36,076 | 70,072 | ||||||||||||
Asset_Retirement_Obligation_Ta
Asset Retirement Obligation (Tables) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Asset Retirement Obligation Disclosure [Abstract] | ||||||||
Schedule of Change in Asset Retirement Obligation | The following table presents the change in our gross conditional ARO (in thousands): | |||||||
December 31, | ||||||||
2014 | 2013 | |||||||
Liability at January 1, | $ | 20,886 | $ | 9,283 | ||||
Accretion expense | 1,073 | 745 | ||||||
Liabilities incurred | 552 | 8,829 | ||||||
Liabilities settled | (85 | ) | (27 | ) | ||||
Revisions to cash flows | (991 | ) | 2,056 | |||||
Liability at December 31, | $ | 21,435 | $ | 20,886 | ||||
Goodwill_Tables
Goodwill (Tables) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Goodwill [Abstract] | ||||||||
Schedule of Goodwill | Goodwill by segment is as follows (in thousands): | |||||||
December 31, | ||||||||
2014 | 2013 | |||||||
Electric | $ | 241,100 | $ | 241,100 | ||||
Natural gas | 114,028 | 114,028 | ||||||
$ | 355,128 | $ | 355,128 | |||||
Risk_Management_and_Hedging_Ac1
Risk Management and Hedging Activities (Tables) | 12 Months Ended | ||||||
Dec. 31, 2014 | |||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) | The following table shows the effect of the interest rate swaps terminated in November 2014 and interest rate swaps previously terminated on the Consolidated Financial Statements (in thousands): | ||||||
Cash Flow Hedges | Location of Amount Reclassified from AOCI to Income | Amount Reclassified from AOCI into Income during the Year Ended | |||||
31-Dec-14 | |||||||
Interest rate contracts | Interest Expense | $ | 1,111 | ||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||||||
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | The table below sets forth by level within the fair value hierarchy the gross components of our assets and liabilities measured at fair value on a recurring basis. Normal purchases and sales transactions are not included in the fair values by source table as they are not recorded at fair value. See Note 9 - Risk Management and Hedging Activities for further discussion. | ||||||||||||||||||||
We record transfers between levels of the fair value hierarchy, if necessary, at the end of the reporting period. There were no transfers between levels for the periods presented. | |||||||||||||||||||||
December 31, 2014 | Quoted Prices in | Significant Other | Significant | Margin Cash Collateral | Total Net Fair Value | ||||||||||||||||
Active Markets for | Observable Inputs | Unobservable Inputs | Offset | ||||||||||||||||||
Identical Assets or | (Level 2) | (Level 3) | |||||||||||||||||||
Liabilities (Level 1) | |||||||||||||||||||||
(in thousands) | |||||||||||||||||||||
Restricted cash | $ | 13,140 | $ | — | $ | — | $ | — | $ | 13,140 | |||||||||||
Rabbi trust investments | 21,594 | — | — | — | 21,594 | ||||||||||||||||
Total | $ | 34,734 | $ | — | $ | — | $ | — | $ | 34,734 | |||||||||||
December 31, 2013 | |||||||||||||||||||||
Restricted cash | $ | 6,650 | $ | — | $ | — | $ | — | $ | 6,650 | |||||||||||
Rabbi trust investments | 16,477 | — | — | — | 16,477 | ||||||||||||||||
Total | $ | 23,127 | $ | — | $ | — | $ | — | $ | 23,127 | |||||||||||
Schedule of Estimated Fair Value of Financial Instruments | The estimated fair value of financial instruments is summarized as follows (in thousands): | ||||||||||||||||||||
December 31, 2014 | December 31, 2013 | ||||||||||||||||||||
Carrying Amount | Fair Value | Carrying Amount | Fair Value | ||||||||||||||||||
Liabilities: | |||||||||||||||||||||
Long-term debt | $ | 1,662,099 | $ | 1,817,642 | $ | 1,155,097 | $ | 1,237,151 | |||||||||||||
ShortTerm_Borrowings_and_Credi1
Short-Term Borrowings and Credit Arrangements (Tables) | 12 Months Ended | ||||||||||||||
Dec. 31, 2014 | |||||||||||||||
Short-term Debt [Abstract] | |||||||||||||||
Schedule of Short-term Debt | Short-term borrowings and the corresponding weighted average interest rates as of December 31 were as follows (dollars in millions, except for percentages): | ||||||||||||||
2014 | 2013 | ||||||||||||||
Short-Term Debt | Balance | Interest Rate | Balance | Interest Rate | |||||||||||
Commercial Paper | $ | 267.8 | 0.5 | % | $ | 141 | 0.41 | % | |||||||
The following information relates to commercial paper for the years ended December 31 (dollars in millions): | |||||||||||||||
2014 | 2013 | ||||||||||||||
Maximum short-term debt outstanding | $ | 276.9 | $ | 199.9 | |||||||||||
Average short-term debt outstanding | $ | 132.5 | $ | 69 | |||||||||||
Weighted-average interest rate | 0.39 | % | 0.4 | % |
LongTerm_Debt_and_Capital_Leas1
Long-Term Debt and Capital Leases (Tables) | 12 Months Ended | ||||||||||
Dec. 31, 2014 | |||||||||||
Long-term Debt and Capital Lease Obligations [Abstract] | |||||||||||
Schedule of Debt and Capital Leases | Long-term debt and capital leases consisted of the following (in thousands): | ||||||||||
December 31, | |||||||||||
Due | 2014 | 2013 | |||||||||
Unsecured Debt: | |||||||||||
Unsecured Revolving Line of Credit | 2018 | $ | — | $ | — | ||||||
Secured Debt: | |||||||||||
Mortgage bonds— | |||||||||||
South Dakota—6.05% | 2018 | 55,000 | 55,000 | ||||||||
South Dakota—5.01% | 2025 | 64,000 | 64,000 | ||||||||
South Dakota—4.15% | 2042 | 30,000 | 30,000 | ||||||||
South Dakota—4.30% | 2052 | 20,000 | 20,000 | ||||||||
South Dakota—4.85% | 2043 | 50,000 | 50,000 | ||||||||
South Dakota—4.22% | 2044 | 30,000 | — | ||||||||
Montana—6.04% | 2016 | 150,000 | 150,000 | ||||||||
Montana—6.34% | 2019 | 250,000 | 250,000 | ||||||||
Montana—5.71% | 2039 | 55,000 | 55,000 | ||||||||
Montana—5.01% | 2025 | 161,000 | 161,000 | ||||||||
Montana—4.15% | 2042 | 60,000 | 60,000 | ||||||||
Montana—4.30% | 2052 | 40,000 | 40,000 | ||||||||
Montana—4.85% | 2043 | 15,000 | 15,000 | ||||||||
Montana—3.99% | 2028 | 35,000 | 35,000 | ||||||||
Montana—4.176% | 2044 | 450,000 | — | ||||||||
Pollution control obligations— | |||||||||||
Montana—4.65% | 2023 | 170,205 | 170,205 | ||||||||
Other Long Term Debt: | |||||||||||
New Market Tax Credit Financing—1.146% | 2046 | 26,977 | — | ||||||||
Discount on Notes and Bonds | — | (83 | ) | (108 | ) | ||||||
1,662,099 | 1,155,097 | ||||||||||
Less current maturities | — | — | |||||||||
$ | 1,662,099 | $ | 1,155,097 | ||||||||
Capital Leases: | |||||||||||
Total Capital Leases | Various | $ | 29,892 | $ | 31,557 | ||||||
Less current maturities | (1,730 | ) | (1,662 | ) | |||||||
$ | 28,162 | $ | 29,895 | ||||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Income Tax Disclosure [Abstract] | ||||||||||||
Schedule Of Income Tax Expense Domestic | Income tax (benefit) expense is comprised of the following (in thousands): | |||||||||||
Year Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Federal | ||||||||||||
Current | $ | (405 | ) | $ | 108 | $ | 5,358 | |||||
Deferred | (5,658 | ) | 18,150 | 13,197 | ||||||||
Investment tax credits | (273 | ) | (335 | ) | (376 | ) | ||||||
State | ||||||||||||
Current | 18 | 83 | (1,411 | ) | ||||||||
Deferred | (3,954 | ) | (3,705 | ) | 1,321 | |||||||
$ | (10,272 | ) | $ | 14,301 | $ | 18,089 | ||||||
Schedule of Effective Income Tax Rate Reconciliation | The following table reconciles our effective income tax rate to the federal statutory rate: | |||||||||||
Year Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Federal statutory rate | 35 | % | 35 | % | 35 | % | ||||||
State income, net of federal provisions | (1.8 | ) | (2.8 | ) | 0.9 | |||||||
Flow-through repairs deductions | (22.9 | ) | (16.4 | ) | (14.0 | ) | ||||||
Recognition of unrecognized tax benefit | (11.4 | ) | — | — | ||||||||
Prior year permanent return to accrual adjustments | (4.7 | ) | 0.5 | (1.6 | ) | |||||||
Production tax credits | (2.8 | ) | (2.9 | ) | — | |||||||
Plant and depreciation of flow through items | 0.1 | (0.5 | ) | (1.1 | ) | |||||||
Recognition of state net operating loss benefit / valuation allowance release | — | — | (2.1 | ) | ||||||||
Other, net | (0.8 | ) | 0.3 | (1.6 | ) | |||||||
(9.3 | )% | 13.2 | % | 15.5 | % | |||||||
The following table summarizes the significant differences in income tax (benefit) expense based on the differences between our effective tax rate and the federal statutory rate (in thousands): | ||||||||||||
Year Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Income Before Income Taxes | $ | 110,414 | $ | 108,284 | $ | 116,495 | ||||||
Income tax calculated at 35% federal statutory rate | 38,645 | 37,899 | 40,774 | |||||||||
Permanent or flow through adjustments: | ||||||||||||
State income, net of federal provisions | (1,969 | ) | (3,082 | ) | 1,078 | |||||||
Flow-through repairs deductions | (25,268 | ) | (17,763 | ) | (16,350 | ) | ||||||
Recognition of unrecognized tax benefit | (12,607 | ) | — | — | ||||||||
Prior year permanent return to accrual adjustments | (5,172 | ) | 541 | (1,901 | ) | |||||||
Production tax credits | (3,136 | ) | (3,171 | ) | — | |||||||
Plant and depreciation of flow through items | 74 | (584 | ) | (1,281 | ) | |||||||
Recognition of state net operating loss benefit / valuation allowance release | — | — | (2,398 | ) | ||||||||
Other, net | (839 | ) | 461 | (1,833 | ) | |||||||
$ | (48,917 | ) | $ | (23,598 | ) | $ | (22,685 | ) | ||||
Income tax (benefit) expense | $ | (10,272 | ) | $ | 14,301 | $ | 18,089 | |||||
Schedule of Deferred Tax Assets and Liabilities | The components of the net deferred income tax liability recognized in our Consolidated Balance Sheets are related to the following temporary differences (in thousands): | |||||||||||
December 31, | ||||||||||||
2014 | 2013 | |||||||||||
Pension / postretirement benefits | $ | 51,817 | $ | 20,522 | ||||||||
NOL carryforward | 42,787 | 16,758 | ||||||||||
Unbilled revenue | 19,863 | 18,136 | ||||||||||
Compensation accruals | 17,315 | 10,409 | ||||||||||
Customer advances | 11,817 | 10,781 | ||||||||||
AMT credit carryforward | 10,357 | 10,357 | ||||||||||
Environmental liability | 8,968 | 9,026 | ||||||||||
Production tax credit | 6,452 | 3,171 | ||||||||||
Interest rate hedges | 6,251 | — | ||||||||||
QF obligations | 2,162 | 2,066 | ||||||||||
Reserves and accruals | 1,772 | 12,097 | ||||||||||
Property taxes | 881 | 796 | ||||||||||
Regulatory liabilities | 975 | 659 | ||||||||||
Regulatory assets | — | 7,248 | ||||||||||
Other, net | 4,415 | 2,827 | ||||||||||
Deferred Tax Asset | 185,832 | 124,853 | ||||||||||
Excess tax depreciation | (349,428 | ) | (304,071 | ) | ||||||||
Goodwill amortization | (137,090 | ) | (122,798 | ) | ||||||||
Flow through depreciation | (103,677 | ) | (79,016 | ) | ||||||||
Regulatory assets | (21,394 | ) | — | |||||||||
Deferred Tax Liability | (611,589 | ) | (505,885 | ) | ||||||||
Deferred Tax Liability, net | $ | (425,757 | ) | $ | (381,032 | ) | ||||||
Summary of Income Tax Contingencies | The change in unrecognized tax benefits is as follows (in thousands): | |||||||||||
2014 | 2013 | 2012 | ||||||||||
Unrecognized Tax Benefits at January 1 | $ | 113,466 | $ | 113,291 | $ | 131,949 | ||||||
Gross increases - tax positions in prior period | — | — | — | |||||||||
Gross decreases - tax positions in prior period | — | — | (1,766 | ) | ||||||||
Gross increases - tax positions in current period | 909 | 518 | 2,391 | |||||||||
Gross decreases - tax positions in current period | (5,597 | ) | (343 | ) | (19,283 | ) | ||||||
Lapse of statute of limitations | (12,849 | ) | — | — | ||||||||
Unrecognized Tax Benefits at December 31 | $ | 95,929 | $ | 113,466 | $ | 113,291 | ||||||
Comprehensive_Income_Loss_Tabl
Comprehensive Income (Loss) (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||||||||||
Statement of Comprehensive Income [Abstract] | ||||||||||||||||||||||||||||||||||||
Schedule of Comprehensive Income (Loss) | The following tables display the components of Other Comprehensive Income (Loss), after-tax, and the related tax effects (in thousands): | |||||||||||||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||
Before-Tax Amount | Tax Benefit | Net-of-Tax Amount | Before-Tax Amount | Tax Benefit | Net-of-Tax Amount | Before-Tax Amount | Tax Benefit | Net-of-Tax Amount | ||||||||||||||||||||||||||||
Foreign currency translation adjustment | $ | 265 | $ | — | $ | 265 | $ | 166 | — | $ | 166 | $ | (54 | ) | $ | — | $ | (54 | ) | |||||||||||||||||
Reclassification of net gains on derivative instruments | (1,110 | ) | 426 | (684 | ) | (1,188 | ) | 458 | (730 | ) | (1,188 | ) | 456 | (732 | ) | |||||||||||||||||||||
Realized loss on cash flow hedging derivatives | (18,388 | ) | 7,243 | (11,145 | ) | — | — | — | — | — | — | |||||||||||||||||||||||||
Pension and postretirement medical liability adjustment | 134 | (52 | ) | 82 | 1,568 | (605 | ) | 963 | (897 | ) | 344 | (553 | ) | |||||||||||||||||||||||
Other comprehensive income (loss) | $ | (19,099 | ) | $ | 7,617 | $ | (11,482 | ) | $ | 546 | $ | (147 | ) | $ | 399 | $ | (2,139 | ) | $ | 800 | $ | (1,339 | ) | |||||||||||||
Schedule of Accumulated Comprehensive Income (Loss) | Balances by classification included within AOCI on the Consolidated Balance Sheets are as follows, net of tax (in thousands): | |||||||||||||||||||||||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||||||||||||||||||||||
Foreign currency translation | $ | 797 | $ | 532 | ||||||||||||||||||||||||||||||||
Derivative instruments designated as cash flow hedges | (8,316 | ) | 3,513 | |||||||||||||||||||||||||||||||||
Pension and postretirement medical plans | (1,247 | ) | (1,329 | ) | ||||||||||||||||||||||||||||||||
Accumulated other comprehensive income | (8,766 | ) | 2,716 | |||||||||||||||||||||||||||||||||
Reclassification out of Accumulated Other Comprehensive Income | The following table displays the changes in AOCI by component, net of tax (in thousands): | |||||||||||||||||||||||||||||||||||
31-Dec-14 | ||||||||||||||||||||||||||||||||||||
Twelve Months Ended | ||||||||||||||||||||||||||||||||||||
Affected Line Item in the Consolidated Statements of Income | Interest Rate Derivative Instruments Designated as Cash Flow Hedges | Pension and Postretirement Medical Plans | Foreign Currency Translation | Total | ||||||||||||||||||||||||||||||||
Beginning balance | $ | 3,513 | $ | (1,329 | ) | $ | 532 | $ | 2,716 | |||||||||||||||||||||||||||
Other comprehensive (loss) income before reclassifications | (11,145 | ) | — | 265 | $ | (10,880 | ) | |||||||||||||||||||||||||||||
Amounts reclassified from accumulated other comprehensive income | Interest Expense | (684 | ) | — | — | $ | (684 | ) | ||||||||||||||||||||||||||||
Amounts reclassified from accumulated other comprehensive income | — | 82 | — | $ | 82 | |||||||||||||||||||||||||||||||
Net current-period other comprehensive (loss) income | (11,829 | ) | 82 | 265 | (11,482 | ) | ||||||||||||||||||||||||||||||
Ending balance | $ | (8,316 | ) | $ | (1,247 | ) | $ | 797 | $ | (8,766 | ) | |||||||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||||||||||||||
Twelve Months Ended | ||||||||||||||||||||||||||||||||||||
Affected Line Item in the Consolidated Statements of Income | Interest Rate Derivative Instruments Designated as Cash Flow Hedges | Pension and Postretirement Medical Plans | Foreign Currency Translation | Total | ||||||||||||||||||||||||||||||||
Beginning balance | $ | 4,243 | $ | (2,292 | ) | $ | 366 | $ | 2,317 | |||||||||||||||||||||||||||
Other comprehensive income before reclassifications | — | — | 166 | $ | 166 | |||||||||||||||||||||||||||||||
Amounts reclassified from accumulated other comprehensive income | Interest Expense | (730 | ) | — | — | $ | (730 | ) | ||||||||||||||||||||||||||||
Amounts reclassified from accumulated other comprehensive income | — | 963 | — | $ | 963 | |||||||||||||||||||||||||||||||
Net current-period other comprehensive (loss) income | (730 | ) | 963 | 166 | 399 | |||||||||||||||||||||||||||||||
Ending balance | $ | 3,513 | $ | (1,329 | ) | $ | 532 | $ | 2,716 | |||||||||||||||||||||||||||
Operating_Leases_Tables
Operating Leases (Tables) | 12 Months Ended | ||
Dec. 31, 2014 | |||
Leases [Abstract] | |||
Schedule of Future Minimum Payments for Operating Leases | We lease vehicles, office equipment and facilities under various long-term operating leases. At December 31, 2014 future minimum lease payments for the next five years under non-cancelable lease agreements are as follows (in thousands): | ||
2015 | 1,996 | ||
2016 | 1,484 | ||
2017 | 671 | ||
2018 | 70 | ||
2019 | 61 | ||
Employee_Benefit_Plans_Tables
Employee Benefit Plans (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ||||||||||||||||||||||||
Schedule of Changes in Projected Benefit Obligations | Following is a reconciliation of the changes in plan benefit obligations and fair value of plan assets, and a statement of the funded status (in thousands): | |||||||||||||||||||||||
Pension Benefits | Other Postretirement Benefits | |||||||||||||||||||||||
December 31, | December 31, | |||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
Change in Benefit Obligation: | ||||||||||||||||||||||||
Obligation at beginning of period | $ | 567,866 | $ | 609,643 | $ | 30,084 | $ | 34,040 | ||||||||||||||||
Service cost | 10,830 | 13,465 | 465 | 541 | ||||||||||||||||||||
Interest cost | 26,147 | 22,719 | 859 | 877 | ||||||||||||||||||||
Actuarial loss (gain) | 107,023 | (54,671 | ) | 958 | (3,156 | ) | ||||||||||||||||||
Settlements | — | — | 690 | — | ||||||||||||||||||||
Benefits paid | (23,422 | ) | (23,290 | ) | (3,052 | ) | (2,218 | ) | ||||||||||||||||
Benefit obligation at end of period | $ | 688,444 | $ | 567,866 | $ | 30,004 | $ | 30,084 | ||||||||||||||||
Change in Fair Value of Plan Assets: | ||||||||||||||||||||||||
Fair value of plan assets at beginning of period | $ | 516,352 | $ | 472,936 | $ | 18,183 | $ | 15,893 | ||||||||||||||||
Return on plan assets | 52,921 | 55,006 | 1,391 | 2,662 | ||||||||||||||||||||
Employer contributions | 10,200 | 11,700 | 1,518 | 1,846 | ||||||||||||||||||||
Benefits paid | (23,422 | ) | (23,290 | ) | (3,052 | ) | (2,218 | ) | ||||||||||||||||
Fair value of plan assets at end of period | $ | 556,051 | $ | 516,352 | $ | 18,040 | $ | 18,183 | ||||||||||||||||
Funded Status | $ | (132,393 | ) | $ | (51,514 | ) | $ | (11,964 | ) | $ | (11,901 | ) | ||||||||||||
Amounts recognized in the balance sheet consist of: | ||||||||||||||||||||||||
Current liability | — | — | (1,169 | ) | (1,178 | ) | ||||||||||||||||||
Noncurrent liability | (132,393 | ) | (51,514 | ) | (10,795 | ) | (10,723 | ) | ||||||||||||||||
Net amount recognized | $ | (132,393 | ) | $ | (51,514 | ) | $ | (11,964 | ) | $ | (11,901 | ) | ||||||||||||
Amounts recognized in regulatory assets consist of: | ||||||||||||||||||||||||
Prior service (cost) credit | (502 | ) | (748 | ) | 17,098 | 19,247 | ||||||||||||||||||
Net actuarial loss | (153,268 | ) | (71,777 | ) | (4,945 | ) | (4,807 | ) | ||||||||||||||||
Amounts recognized in AOCI consist of: | ||||||||||||||||||||||||
Prior service cost | — | — | (1,151 | ) | (1,302 | ) | ||||||||||||||||||
Net actuarial gain | — | — | (409 | ) | (971 | ) | ||||||||||||||||||
Total | $ | (153,770 | ) | $ | (72,525 | ) | $ | 10,593 | $ | 12,167 | ||||||||||||||
Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets | The total projected benefit obligation and fair value of plan assets for the pension plans with accumulated benefit obligations in excess of plan assets were as follows (in millions): | |||||||||||||||||||||||
Pension Benefits | ||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Projected benefit obligation | $ | 688.4 | $ | 567.9 | ||||||||||||||||||||
Accumulated benefit obligation | 685 | 565 | ||||||||||||||||||||||
Fair value of plan assets | 556.1 | 516.4 | ||||||||||||||||||||||
Schedule of Defined Benefit Plans Disclosures | The components of the net costs (credits) for our pension and other postretirement plans are as follows (in thousands): | |||||||||||||||||||||||
Pension Benefits | Other Postretirement Benefits | |||||||||||||||||||||||
December 31, | December 31, | |||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |||||||||||||||||||
Components of Net Periodic Benefit Cost | ||||||||||||||||||||||||
Service cost | $ | 10,830 | $ | 13,465 | $ | 11,488 | $ | 465 | $ | 541 | $ | 541 | ||||||||||||
Interest cost | 26,147 | 22,719 | 23,823 | 859 | 877 | 1,167 | ||||||||||||||||||
Expected return on plan assets | (29,506 | ) | (32,491 | ) | (29,996 | ) | (981 | ) | (1,019 | ) | (1,021 | ) | ||||||||||||
Amortization of prior service cost (credit) | 246 | 246 | 246 | (1,998 | ) | (1,998 | ) | (1,998 | ) | |||||||||||||||
Recognized actuarial loss | 2,118 | 11,648 | 8,646 | 348 | 1,271 | 790 | ||||||||||||||||||
Settlement loss recognized | — | — | — | 690 | — | — | ||||||||||||||||||
Net Periodic Benefit Cost (Credit) | $ | 9,835 | $ | 15,587 | $ | 14,207 | $ | (617 | ) | $ | (328 | ) | $ | (521 | ) | |||||||||
Schedule of Estimated Amortization of Regulatory Assets Into Net Periodic Benefit Costs | We estimate amortizations from regulatory assets into net periodic benefit cost during 2015 will be as follows (in thousands): | |||||||||||||||||||||||
Pension Benefits | Other | |||||||||||||||||||||||
Postretirement | ||||||||||||||||||||||||
Benefits | ||||||||||||||||||||||||
Prior service credit (cost) | $ | (246 | ) | $ | 1,998 | |||||||||||||||||||
Accumulated loss | (10,470 | ) | (325 | ) | ||||||||||||||||||||
Schedule of Assumptions Used | The weighted-average assumptions used in calculating the preceding information are as follows: | |||||||||||||||||||||||
Pension Benefits | Other Postretirement Benefits | |||||||||||||||||||||||
December 31, | December 31, | |||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |||||||||||||||||||
Discount rate | 3.75-3.90 | % | 4.55-4.75 | % | 3.55-3.80 | % | 3.20-3.40 | % | 3.75-4.20 | % | 2.25-3.20 | % | ||||||||||||
Expected rate of return on assets | 5.8 | 7 | 7 | 5.8 | 7 | 7 | ||||||||||||||||||
Long-term rate of increase in compensation levels (nonunion) | 3.58 | 3.58 | 3.58 | 3.58 | 3.58 | 3.58 | ||||||||||||||||||
Long-term rate of increase in compensation levels (union) | 3.5 | 3.5 | 3.5 | 3.5 | 3.5 | 3.5 | ||||||||||||||||||
Schedule of Pension And Postretirement Benefits Investment Strategy | Based on this, the target asset allocation established, within an allowable range of plus or minus 5%, is as follows: | |||||||||||||||||||||||
Pension Benefits | Other Benefits | |||||||||||||||||||||||
December 31, | December 31, | |||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
Domestic debt securities | 55 | % | 60 | % | 40 | % | 40 | % | ||||||||||||||||
International debt securities | 5 | 5 | — | — | ||||||||||||||||||||
Domestic equity securities | 34 | 30 | 50 | 50 | ||||||||||||||||||||
International equity securities | 6 | 5 | 10 | 10 | ||||||||||||||||||||
Schedule of Allocation of Plan Assets | The actual allocation by plan is as follows: | |||||||||||||||||||||||
NorthWestern Energy Pension | NorthWestern Corporation Pension | NorthWestern Energy | ||||||||||||||||||||||
Health and Welfare | ||||||||||||||||||||||||
December 31, | December 31, | December 31, | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
Cash and cash equivalents | — | % | — | % | 0.1 | % | 0.1 | % | 0.2 | % | 1.8 | % | ||||||||||||
Domestic debt securities | 56 | 58.6 | 65.6 | 64.7 | 37.2 | 38.6 | ||||||||||||||||||
International debt securities | 4.4 | 4.9 | 4.5 | 4.9 | — | 0.3 | ||||||||||||||||||
Domestic equity securities | 34.1 | 31.4 | 25.1 | 25.3 | 53.9 | 50.1 | ||||||||||||||||||
International equity securities | 5.5 | 5.1 | 4.7 | 5 | 8.7 | 9.2 | ||||||||||||||||||
100 | % | 100 | % | 100 | % | 100 | % | 100 | % | 100 | % | |||||||||||||
Schedule of Fair Value of Plan Assets by Category | The fair value of our plan assets at December 31, 2014, by asset category are as follows (in thousands): | |||||||||||||||||||||||
Asset Category | Total | Quoted Market | Significant Observable Inputs | Significant Unobservable Inputs | ||||||||||||||||||||
Prices in Active | Level 2 | Level 3 | ||||||||||||||||||||||
Markets for | ||||||||||||||||||||||||
Identical Assets | ||||||||||||||||||||||||
Level 1 | ||||||||||||||||||||||||
Pension Plan Assets | ||||||||||||||||||||||||
Cash and cash equivalents | $ | 126 | $ | — | $ | 126 | $ | — | ||||||||||||||||
Equity securities: (1) | ||||||||||||||||||||||||
US small/mid cap growth | 16,605 | — | 16,605 | — | ||||||||||||||||||||
US small/mid cap value | 15,264 | — | 15,264 | — | ||||||||||||||||||||
US large cap growth | 48,560 | — | 48,560 | — | ||||||||||||||||||||
US large cap value | 48,785 | — | 48,785 | — | ||||||||||||||||||||
US large cap passive | 54,775 | — | 54,775 | — | ||||||||||||||||||||
Non-US core | 22,634 | — | 22,634 | — | ||||||||||||||||||||
Emerging markets | 7,650 | — | 7,650 | — | ||||||||||||||||||||
Fixed income securities:(2) | ||||||||||||||||||||||||
US core | 23,177 | — | 23,177 | — | ||||||||||||||||||||
US passive | 12,269 | — | 12,269 | — | ||||||||||||||||||||
Long duration | 41,451 | — | 41,451 | — | ||||||||||||||||||||
Long duration investment grade | 52,767 | — | 52,767 | — | ||||||||||||||||||||
Long duration passive | 41,475 | — | 41,475 | — | ||||||||||||||||||||
Opportunistic | 5,692 | — | 5,692 | — | ||||||||||||||||||||
Non-US passive | 24,504 | — | 24,504 | — | ||||||||||||||||||||
Active long corporate | 133,160 | — | 133,160 | — | ||||||||||||||||||||
Participating group annuity contract | 7,157 | — | 7,157 | — | ||||||||||||||||||||
$ | 556,051 | $ | — | $ | 556,051 | $ | — | |||||||||||||||||
Other Postretirement Benefit Plan Assets | ||||||||||||||||||||||||
Cash and cash equivalents | $ | 44 | $ | — | $ | 44 | $ | — | ||||||||||||||||
Equity securities: (1) | — | |||||||||||||||||||||||
US small/mid cap growth | 752 | — | 752 | — | ||||||||||||||||||||
US small/mid cap value | 721 | — | 721 | — | ||||||||||||||||||||
S&P 500 index | 8,234 | — | 8,234 | — | ||||||||||||||||||||
US large cap growth | 6 | — | 6 | — | ||||||||||||||||||||
US large cap value | 6 | — | 6 | — | ||||||||||||||||||||
US large cap passive | 7 | — | 7 | — | ||||||||||||||||||||
Non-US core | 1,495 | — | 1,495 | — | ||||||||||||||||||||
Emerging markets | 72 | — | 72 | — | ||||||||||||||||||||
Fixed income securities: (2) | ||||||||||||||||||||||||
Passive bond market | 1,992 | — | 1,992 | — | ||||||||||||||||||||
US core | 4,435 | — | 4,435 | — | ||||||||||||||||||||
US passive | 1 | — | 1 | — | ||||||||||||||||||||
Long duration | 5 | — | 5 | — | ||||||||||||||||||||
Long duration investment grade | 6 | — | 6 | — | ||||||||||||||||||||
Long duration passive | 5 | — | 5 | — | ||||||||||||||||||||
Opportunistic | 240 | — | 240 | — | ||||||||||||||||||||
Non-US passive | 3 | — | 3 | — | ||||||||||||||||||||
Active long corporate | 16 | — | 16 | — | ||||||||||||||||||||
$ | 18,040 | $ | — | $ | 18,040 | $ | — | |||||||||||||||||
The fair value of our plan assets at December 31, 2013, by asset category are as follows (in thousands): | ||||||||||||||||||||||||
Asset Category | Total | Quoted Market | Significant Observable Inputs | Significant Unobservable Inputs | ||||||||||||||||||||
Prices in Active | Level 2 | Level 3 | ||||||||||||||||||||||
Markets for | ||||||||||||||||||||||||
Identical Assets | ||||||||||||||||||||||||
Level 1 | ||||||||||||||||||||||||
Pension Plan Assets | ||||||||||||||||||||||||
Cash and cash equivalents | $ | 168 | $ | — | $ | 168 | $ | — | ||||||||||||||||
Equity securities: (1) | ||||||||||||||||||||||||
US small/mid cap growth | 13,764 | — | 13,764 | — | ||||||||||||||||||||
US small/mid cap value | 13,664 | — | 13,664 | — | ||||||||||||||||||||
US large cap growth | 42,094 | — | 42,094 | — | ||||||||||||||||||||
US large cap value | 42,102 | — | 42,102 | — | ||||||||||||||||||||
US large cap passive | 47,227 | — | 47,227 | — | ||||||||||||||||||||
Non-US core | 20,015 | — | 20,015 | — | ||||||||||||||||||||
Emerging markets | 6,250 | — | 6,250 | — | ||||||||||||||||||||
Fixed income securities:(2) | ||||||||||||||||||||||||
US core | 82,639 | — | 82,639 | — | ||||||||||||||||||||
US passive | 44,762 | — | 44,762 | — | ||||||||||||||||||||
Long duration | 24,401 | — | 24,401 | — | ||||||||||||||||||||
Long duration investment grade | 32,700 | — | 32,700 | — | ||||||||||||||||||||
Long duration passive | 24,122 | — | 24,122 | — | ||||||||||||||||||||
Opportunistic | 5,876 | — | 5,876 | — | ||||||||||||||||||||
Non-US passive | 25,150 | — | 25,150 | — | ||||||||||||||||||||
Active long corporate | 83,147 | — | 83,147 | — | ||||||||||||||||||||
Participating group annuity contract | 8,271 | — | 8,271 | — | ||||||||||||||||||||
$ | 516,352 | $ | — | $ | 516,352 | $ | — | |||||||||||||||||
Other Postretirement Benefit Plan Assets | ||||||||||||||||||||||||
Cash and cash equivalents | $ | 318 | — | $ | 318 | — | ||||||||||||||||||
Equity securities: (1) | ||||||||||||||||||||||||
US small/mid cap growth | 751 | — | 751 | — | ||||||||||||||||||||
US small/mid cap value | 736 | — | 736 | — | ||||||||||||||||||||
S&P 500 index | 7,321 | — | 7,321 | — | ||||||||||||||||||||
US large cap growth | 98 | — | 98 | — | ||||||||||||||||||||
US large cap value | 98 | — | 98 | — | ||||||||||||||||||||
US large cap passive | 110 | — | 110 | — | ||||||||||||||||||||
Non-US core | 1,595 | — | 1,595 | — | ||||||||||||||||||||
Emerging markets | 85 | — | 85 | — | ||||||||||||||||||||
Fixed income securities: (2) | ||||||||||||||||||||||||
Passive bond market | 1,880 | — | 1,880 | — | ||||||||||||||||||||
US core | 4,390 | — | 4,390 | — | ||||||||||||||||||||
US passive | 107 | — | 107 | — | ||||||||||||||||||||
Long duration | 55 | — | 55 | — | ||||||||||||||||||||
Long duration investment grade | 79 | — | 79 | — | ||||||||||||||||||||
Long duration passive | 55 | — | 55 | — | ||||||||||||||||||||
Opportunistic | 261 | — | 261 | — | ||||||||||||||||||||
Non-US passive | 57 | — | 57 | — | ||||||||||||||||||||
Active long corporate | 187 | — | 187 | — | ||||||||||||||||||||
$ | 18,183 | $ | — | $ | 18,183 | $ | — | |||||||||||||||||
_________________ | ||||||||||||||||||||||||
-1 | This category consists of active and passive managed equity funds, which are invested in multiple strategies to diversify risks and reduce volatility. | |||||||||||||||||||||||
(2) This category consists of investment grade bonds of issuers from diverse industries, debt securities issued by international, national, state and local governments, and asset-backed securities. This includes both active and passive managed funds. | ||||||||||||||||||||||||
Schedule of Pension Contributions | Annual contributions to each of the pension plans are as follows (in thousands): | |||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
NorthWestern Energy Pension Plan (MT) | $ | 9,000 | $ | 10,500 | $ | 10,500 | ||||||||||||||||||
NorthWestern Pension Plan (SD) | 1,200 | 1,200 | 1,200 | |||||||||||||||||||||
$ | 10,200 | $ | 11,700 | $ | 11,700 | |||||||||||||||||||
Schedule of Expected Benefit Payments | We estimate the plans will make future benefit payments to participants as follows (in thousands): | |||||||||||||||||||||||
Pension Benefits | Other Postretirement Benefits | |||||||||||||||||||||||
2015 | $ | 27,652 | $ | 3,516 | ||||||||||||||||||||
2016 | 29,905 | 3,516 | ||||||||||||||||||||||
2017 | 31,172 | 3,387 | ||||||||||||||||||||||
2018 | 33,142 | 3,282 | ||||||||||||||||||||||
2019 | 34,660 | 3,026 | ||||||||||||||||||||||
2020-2024 | 194,065 | 11,923 | ||||||||||||||||||||||
StockBased_Compensation_Tables
Stock-Based Compensation (Tables) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||||||||
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions | The following summarizes the significant assumptions used to determine the fair value of performance shares and related compensation expense as well as the resulting estimated fair value of performance shares granted: | |||||||
2014 | 2013 | |||||||
Risk-free interest rate | 0.67 | % | 0.44 | % | ||||
Expected life, in years | 3 | 3 | ||||||
Expected volatility | 15.5% to 23.3% | 16.3% to 25.4% | ||||||
Dividend yield | 3.3 | % | 3.9 | % | ||||
Schedule of Nonvested Share Activity | A summary of nonvested shares as of and changes during the year ended December 31, 2014, are as follows: | |||||||
Performance Share Awards | ||||||||
Shares | Weighted-Average Grant-Date | |||||||
Fair Value | ||||||||
Beginning nonvested grants | 173,646 | $ | 29.14 | |||||
Granted | 96,193 | 38.33 | ||||||
Vested | (84,652 | ) | 25.19 | |||||
Forfeited | (4,615 | ) | 33.55 | |||||
Remaining nonvested grants | 180,572 | $ | 35.77 | |||||
Share-based Compensation Arrangement by Share-based Payment Award | ||||||||
Schedule of Nonvested Restricted Stock Units Activity | A summary of nonvested shares as of and changes during the year ended December 31, 2014, are as follows: | |||||||
Shares | Weighted-Average Grant-Date | |||||||
Fair Value | ||||||||
Beginning nonvested grants | 26,628 | $ | 30.24 | |||||
Granted | 15,092 | 43.79 | ||||||
Vested | — | — | ||||||
Forfeited | — | — | ||||||
Remaining nonvested grants | 41,720 | $ | 35.14 | |||||
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 12 Months Ended | |||||
Dec. 31, 2014 | ||||||
Earnings Per Share [Abstract] | ||||||
Schedule of Weighted Average Number of Shares | Average shares used in computing the basic and diluted earnings per share are as follows: | |||||
December 31, | ||||||
2014 | 2013 | |||||
Basic computation | 40,156,177 | 38,144,852 | ||||
Dilutive effect of | ||||||
Performance share awards (1) | 275,774 | 82,223 | ||||
Diluted computation | 40,431,951 | 38,227,075 | ||||
_____________________ | ||||||
(1) Performance share awards are included in diluted weighted average number of shares outstanding based upon what would be issued if the end of the most recent reporting period was the end of the term of the award. |
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ||||||||||||
Schedule of Changes In Qualifying Facility Liability | The following summarizes the change in the QF liability (in thousands): | |||||||||||
December 31, | ||||||||||||
2014 | 2013 | |||||||||||
Beginning QF liability | $ | 136,448 | $ | 136,652 | ||||||||
Unrecovered amount | (10,128 | ) | (10,647 | ) | ||||||||
Interest expense | 10,573 | 10,443 | ||||||||||
Ending QF liability | $ | 136,893 | $ | 136,448 | ||||||||
Schedule of Estimated Gross Contractual Obligation Less Amounts Recoverable Through Rates | The following summarizes the estimated gross contractual obligation less amounts recoverable through rates (in thousands): | |||||||||||
Gross | Recoverable | Net | ||||||||||
Obligation | Amounts | |||||||||||
2015 | $ | 69,606 | $ | 56,598 | $ | 13,008 | ||||||
2016 | 71,598 | 57,188 | 14,410 | |||||||||
2017 | 73,622 | 57,789 | 15,833 | |||||||||
2018 | 75,688 | 58,401 | 17,287 | |||||||||
2019 | 77,791 | 59,020 | 18,771 | |||||||||
Thereafter | 646,783 | 508,195 | 138,588 | |||||||||
Total | $ | 1,015,088 | $ | 797,191 | $ | 217,897 | ||||||
Segment_and_Related_Informatio1
Segment and Related Information (Tables) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||
Segment Reporting [Abstract] | ||||||||||||||||||||
Schedule of Segment Reporting Information, by Segment | Financial data for the business segments are as follows (in thousands): | |||||||||||||||||||
December 31, 2014 | Electric | Gas | Other | Eliminations | Total | |||||||||||||||
Operating revenues | $ | 877,967 | 326,896 | $ | — | $ | — | $ | 1,204,863 | |||||||||||
Cost of sales | 348,640 | 133,951 | — | — | 482,591 | |||||||||||||||
Gross margin | 529,327 | 192,945 | — | — | 722,272 | |||||||||||||||
Operating, general and administrative | 200,186 | 91,437 | 14,263 | — | 305,886 | |||||||||||||||
Property and other taxes | 84,759 | 29,821 | 12 | — | 114,592 | |||||||||||||||
Depreciation | 94,813 | 28,930 | 33 | — | 123,776 | |||||||||||||||
Operating income (loss) | 149,569 | 42,757 | (14,308 | ) | — | 178,018 | ||||||||||||||
Interest expense | (60,424 | ) | (10,618 | ) | (6,760 | ) | — | (77,802 | ) | |||||||||||
Other income | 4,758 | 1,324 | 4,116 | — | 10,198 | |||||||||||||||
Income tax (expense) benefit | (1,490 | ) | (7,463 | ) | 19,225 | — | 10,272 | |||||||||||||
Net income | $ | 92,413 | $ | 26,000 | $ | 2,273 | $ | — | $ | 120,686 | ||||||||||
Total assets | $ | 3,442,659 | $ | 1,522,902 | $ | 8,382 | $ | — | $ | 4,973,943 | ||||||||||
Capital expenditures | $ | 233,538 | $ | 36,846 | $ | — | $ | — | $ | 270,384 | ||||||||||
December 31, 2013 | Electric | Gas | Other | Eliminations | Total | |||||||||||||||
Operating revenues | $ | 865,239 | $ | 287,605 | $ | 1,675 | $ | — | $ | 1,154,519 | ||||||||||
Cost of sales | 358,688 | 120,858 | — | — | 479,546 | |||||||||||||||
Gross margin | 506,551 | 166,747 | 1,675 | — | 674,973 | |||||||||||||||
Operating, general and administrative | 195,100 | 78,822 | 11,647 | — | 285,569 | |||||||||||||||
Property and other taxes | 78,536 | 26,993 | 11 | — | 105,540 | |||||||||||||||
Depreciation | 89,728 | 23,070 | 33 | — | 112,831 | |||||||||||||||
Operating income (loss) | 143,187 | 37,862 | (10,016 | ) | — | 171,033 | ||||||||||||||
Interest expense | (57,920 | ) | (9,993 | ) | (2,573 | ) | — | (70,486 | ) | |||||||||||
Other income | 4,061 | 1,239 | 2,437 | — | 7,737 | |||||||||||||||
Income tax (expense) benefit | (13,905 | ) | (4,134 | ) | 3,738 | — | (14,301 | ) | ||||||||||||
Net income (loss) | $ | 75,423 | $ | 24,974 | $ | (6,414 | ) | $ | — | $ | 93,983 | |||||||||
Total assets | $ | 2,583,554 | $ | 1,117,861 | $ | 13,845 | — | $ | 3,715,260 | |||||||||||
Capital expenditures | $ | 198,032 | $ | 32,422 | $ | — | — | $ | 230,454 | |||||||||||
December 31, 2012 | Electric | Gas | Other | Eliminations | Total | |||||||||||||||
Operating revenues | $ | 805,554 | $ | 263,394 | $ | 1,394 | $ | — | $ | 1,070,342 | ||||||||||
Cost of sales | 277,826 | 117,608 | — | — | 395,434 | |||||||||||||||
Gross margin | 527,728 | 145,786 | 1,394 | — | 674,908 | |||||||||||||||
Operating, general and administrative | 187,599 | 75,971 | 6,396 | — | 269,966 | |||||||||||||||
MSTI impairment | 24,039 | — | — | — | 24,039 | |||||||||||||||
Property and other taxes | 72,755 | 24,907 | 12 | — | 97,674 | |||||||||||||||
Depreciation | 86,559 | 19,452 | 33 | — | 106,044 | |||||||||||||||
Operating income (loss) | 156,776 | 25,456 | (5,047 | ) | — | 177,185 | ||||||||||||||
Interest expense | (55,118 | ) | (9,063 | ) | (881 | ) | — | (65,062 | ) | |||||||||||
Other income | 2,630 | 1,633 | 109 | — | 4,372 | |||||||||||||||
Income tax (expense) benefit | (22,298 | ) | (692 | ) | 4,901 | — | (18,089 | ) | ||||||||||||
Net income | $ | 81,990 | $ | 17,334 | $ | (918 | ) | $ | — | $ | 98,406 | |||||||||
Total assets | 2,442,602 | $ | 1,032,259 | $ | 10,672 | $ | — | $ | 3,485,533 | |||||||||||
Capital expenditures | 178,325 | $ | 40,909 | $ | — | $ | — | $ | 219,234 | |||||||||||
Quarterly_Financial_Data_Unaud1
Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | |||||||||||||||||
Schedule of Quarterly Financial Information | Amounts presented are in thousands, except per share data: | ||||||||||||||||
2014 | First | Second | Third | Fourth | |||||||||||||
Operating revenues | $ | 369,723 | $ | 270,281 | $ | 251,912 | $ | 312,947 | |||||||||
Operating income | 71,350 | 25,097 | 30,987 | 50,584 | |||||||||||||
Net income | $ | 45,580 | $ | 7,746 | $ | 30,191 | $ | 37,169 | |||||||||
Average common shares outstanding | 38,856 | 39,137 | 39,141 | 43,451 | |||||||||||||
Income per average common share (basic): | |||||||||||||||||
Net income | $ | 1.17 | $ | 0.2 | $ | 0.77 | $ | 0.87 | |||||||||
Income per average common share (diluted): | |||||||||||||||||
Net income | $ | 1.17 | $ | 0.2 | $ | 0.77 | $ | 0.85 | |||||||||
Dividends per share | $ | 0.4 | $ | 0.4 | $ | 0.4 | $ | 0.4 | |||||||||
Stock price: | |||||||||||||||||
High | $ | 47.86 | $ | 52.49 | $ | 52.7 | $ | 58.7 | |||||||||
Low | 42.64 | 45.49 | 45.3 | 45.14 | |||||||||||||
Quarter-end close | 47.43 | 52.19 | 45.36 | 56.58 | |||||||||||||
2013 | First | Second | Third | Fourth | |||||||||||||
Operating revenues | $ | 313,020 | $ | 260,161 | $ | 262,248 | $ | 319,090 | |||||||||
Operating income | 57,010 | 32,660 | 31,401 | 49,962 | |||||||||||||
Net income | $ | 37,902 | $ | 14,341 | $ | 15,647 | $ | 26,093 | |||||||||
Average common shares outstanding | 37,384 | 38,092 | 38,459 | 38,626 | |||||||||||||
Income per average common share (basic): | 0 | 0 | |||||||||||||||
Net income | $ | 1.01 | $ | 0.37 | $ | 0.41 | $ | 0.67 | |||||||||
Income per average common share (diluted): | |||||||||||||||||
Net income | $ | 1.01 | $ | 0.37 | $ | 0.4 | $ | 0.68 | |||||||||
Dividends per share | $ | 0.38 | $ | 0.38 | $ | 0.38 | $ | 0.38 | |||||||||
Stock price: | |||||||||||||||||
High | $ | 40.35 | $ | 43.17 | $ | 45.85 | $ | 47.18 | |||||||||
Low | 35.06 | 38.12 | 39.08 | 41.31 | |||||||||||||
Quarter-end close | 39.86 | 39.9 | 44.92 | 43.32 | |||||||||||||
Nature_of_Operations_and_Basis2
Nature of Operations and Basis of Consolidation (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
watts | |||
customers | |||
Number of customers | 692,600 | ||
Number of megawatts of qualifying facility | 35 | ||
Estimated aggregate gross contractual payments through 2024 | $262.90 | ||
Variable interest entity, measure of activity, purchases | $24.40 | $23.80 | $21 |
Significant_Accounting_Policie3
Significant Accounting Policies Inventory (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Accounting Policies [Abstract] | ||
Materials and supplies | $30,672 | $28,263 |
Storage gas and fuel | 24,422 | 27,346 |
Total | $55,094 | $55,609 |
Significant_Accounting_Policie4
Significant Accounting Policies Property plant equipment (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Property, Plant and Equipment [Line Items] | |||
Interest costs, capitalized during period | $10.80 | $8.20 | $7.90 |
Property, plant and equipment, disclosure of composite depreciation rate for plants in service | 2.90% | 3.20% | 3.30% |
MONTANA | |||
Property, Plant and Equipment [Line Items] | |||
Allowance for funds used during construction, rate | 8.00% | 8.10% | 8.00% |
Significant_Accounting_Policie5
Significant Accounting Policies Other Noncurrent Liabilities (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Accounting Policies [Abstract] | ||
Pension and other employee benefits | $137,377 | $57,140 |
Future QF obligation, net | 136,893 | 136,448 |
Environmental | 28,060 | 28,194 |
Customer advances | 30,001 | 27,371 |
Other | 50,158 | 43,471 |
Total | $382,489 | $292,624 |
Significant_Accounting_Policie6
Significant Accounting Policies Supplemental Cash Flows (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Accounting Policies [Abstract] | |||
Income taxes, cash paid (received) | $35 | $50 | $2,944 |
Interest, cash paid (received) | 63,482 | 57,789 | 51,271 |
Capital expenditures included in trade accounts payable | $8,555 | $12,025 | $13,136 |
Significant_Accounting_Policie7
Significant Accounting Policies Narrative (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
days | ||
Allowance for doubtful accounts receivable, current | $4.30 | $4.50 |
Unbilled receivables,current | $70.30 | $74.30 |
Number of days or less of maturity to be considered cash equivalent | 90 |
Hydro_Acquisition_Purchase_pri
Hydro Acquisition Purchase price allocation (Details) (USD $) | Dec. 31, 2014 |
In Millions, unless otherwise specified | |
Assets Acquired [Abstract] | |
Inventory | $0.20 |
Property, plant, and equipment | 899.6 |
Other prepayments | 4.5 |
Total assets acquired | 904.3 |
Liabilities Assumed [Abstract] | |
Other current liabilities | 0.4 |
Other deferred credits | 0.4 |
Total liabilities assumed | 0.8 |
Total purchase price | $903.50 |
Hydro_Acquisition_Hydroelectri
Hydro Acquisition Hydro-electric (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Nov. 30, 2014 | Sep. 26, 2014 |
watts | |||
Significant Acquisitions and Disposals [Line Items] | |||
Megawatts of generation | 633 | ||
Purchase price | $904 | ||
Owned average load serving requirement | 60.00% | ||
Approved rate base, Hydro Electric | 870 | ||
Estimated Useful Life | 50 years | ||
Approved rate increase, amount | 117 | ||
Common stock aggregate gross sales price, maximum | 400 | ||
Debt issuance for Hydro transaction | 450 | ||
Transaction costs | 9.5 | ||
Debt related commitment fees | 5.8 | ||
Hydro-electric Assets [Member] | |||
Significant Acquisitions and Disposals [Line Items] | |||
Approved return on equity, percentage | 9.80% | ||
Authorized cost of debt | 4.25% | ||
Approved debt capital structure, percentage | 52.00% | ||
Approved equity capital structure, percentage | 48.00% | ||
Kerr Project [Member] | |||
Significant Acquisitions and Disposals [Line Items] | |||
Megawatts of generation | 194 | ||
Purchase price | 30 | ||
Estimated reference price less conveyance price | 11.7 | ||
Estimated conveyance price of hydroelectric facility | $18.30 |
Regulatory_Matters_Details
Regulatory Matters (Details) (USD $) | 3 Months Ended | 12 Months Ended | 27 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2014 |
Regulatory Assets [Line Items] | |||
Demand side management lost revenue expected recovery | $7.10 | $7.10 | $7.10 |
South Dakota Electric Rate Filing [Member] | |||
Regulatory Assets [Line Items] | |||
Requested rate increase | 26.5 | ||
Approved return on equity, percentage | 10.00% | ||
Capital structure,percentage of debt | 46.00% | ||
Capitalized structure, percentage of equity | 54.00% | ||
Rate base | 447.4 | 447.4 | 447.4 |
Regulatory Reviews of Filings [Member] | |||
Regulatory Assets [Line Items] | |||
CU4 incremental market purchases identified for further review | 11 | ||
Revenue Subject to Refund [Member] | Dave Gates Generating Station [Member] | |||
Regulatory Assets [Line Items] | |||
Deferred revenue subject to refund | 27.3 | 27.3 | 27.3 |
Revenue Subject to Refund [Member] | Montana Natural Gas Production Assets [Member] | |||
Regulatory Assets [Line Items] | |||
Revenue of acquiree since acquisition date, Actual | $29.30 |
Regulatory_Assets_and_Liabilit2
Regulatory Assets and Liabilities (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Regulatory Assets [Member] | ||
Regulatory Assets And Liabilities [Line Items] | ||
Regulatory assets | $503,131 | $354,671 |
Regulatory Assets [Member] | Pension [Member] | ||
Regulatory Assets And Liabilities [Line Items] | ||
Regulatory assets | 139,050 | 58,474 |
Regulatory Assets [Member] | Employee related benefits [Member] | ||
Regulatory Assets And Liabilities [Line Items] | ||
Regulatory assets | 19,080 | 17,700 |
Regulatory Assets [Member] | Distribution infrastructure projects | ||
Regulatory Assets And Liabilities [Line Items] | ||
Regulatory assets | 9,407 | 12,543 |
Regulatory assets, remaining amortization period | P3Y | |
Regulatory Assets [Member] | Environmental clean-up [Member] | ||
Regulatory Assets And Liabilities [Line Items] | ||
Regulatory assets | 13,741 | 14,924 |
Regulatory Assets [Member] | Supply costs [Member] | ||
Regulatory Assets And Liabilities [Line Items] | ||
Regulatory assets | 29,200 | 17,875 |
Regulatory assets, remaining amortization period | P1Y | |
Regulatory Assets [Member] | Income taxes [Member] | ||
Regulatory Assets And Liabilities [Line Items] | ||
Regulatory assets | 263,764 | 201,808 |
Regulatory Assets [Member] | Deferred financing costs [Member] | ||
Regulatory Assets And Liabilities [Line Items] | ||
Regulatory assets | 12,151 | 13,919 |
Regulatory Assets [Member] | State And Local Taxes And Fees [Member] | ||
Regulatory Assets And Liabilities [Line Items] | ||
Regulatory assets | 5,319 | 6,582 |
Regulatory Assets [Member] | Other [Member] | ||
Regulatory Assets And Liabilities [Line Items] | ||
Regulatory assets | 11,419 | 10,846 |
Regulatory Liabilities [Member] | ||
Regulatory Assets And Liabilities [Line Items] | ||
Regulatory liabilities | 418,397 | 394,459 |
Regulatory Liabilities [Member] | Removal cost | ||
Regulatory Assets And Liabilities [Line Items] | ||
Regulatory liabilities | 351,676 | 336,613 |
Regulatory Liabilities [Member] | Gas storage sales | ||
Regulatory Assets And Liabilities [Line Items] | ||
Regulatory liabilities | 10,410 | 10,831 |
Regulatory liability, remaining amortization period | P25Y | |
Regulatory Liabilities [Member] | Supply costs [Member] | ||
Regulatory Assets And Liabilities [Line Items] | ||
Regulatory liabilities | 14,569 | 11,493 |
Regulatory liability, remaining amortization period | P1Y | |
Regulatory Liabilities [Member] | Deferred revenue [Member] | ||
Regulatory Assets And Liabilities [Line Items] | ||
Regulatory liabilities | 36,592 | 33,400 |
Regulatory liability, remaining amortization period | P1Y | |
Regulatory Liabilities [Member] | Environmental clean-up [Member] | ||
Regulatory Assets And Liabilities [Line Items] | ||
Regulatory liabilities | 2,501 | 1,194 |
Regulatory Liabilities [Member] | State And Local Taxes And Fees [Member] | ||
Regulatory Assets And Liabilities [Line Items] | ||
Regulatory liabilities | 511 | 551 |
Regulatory liability, remaining amortization period | P1Y | |
Regulatory Liabilities [Member] | Other [Member] | ||
Regulatory Assets And Liabilities [Line Items] | ||
Regulatory liabilities | $2,138 | $377 |
Regulatory_Assets_and_Liabilit3
Regulatory Assets and Liabilities Narrative (Details) | 12 Months Ended |
Dec. 31, 2014 | |
State And Local Taxes And Fees [Member] | |
Regulatory Assets And Liabilities [Line Items] | |
Percentage of estimated increase In local taxes and fees authorized for recovery by MPSC | 60.00% |
Electric Supply Costs [Member] | South Dakota | |
Regulatory Assets And Liabilities [Line Items] | |
Percentage of interest earned on electric and natural gas supply costs | 10.60% |
Natural Gas Supply Costs [Member] | South Dakota | |
Regulatory Assets And Liabilities [Line Items] | |
Percentage of interest earned on electric and natural gas supply costs | 7.80% |
Natural Gas Supply Costs [Member] | Nebraska | |
Regulatory Assets And Liabilities [Line Items] | |
Percentage of interest earned on electric and natural gas supply costs | 8.50% |
Supply costs [Member] | Montana | |
Regulatory Assets And Liabilities [Line Items] | |
Percentage of interest earned on electric and natural gas supply costs | 7.50% |
Property_Plant_and_Equipment_D
Property, Plant and Equipment (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Property, Plant and Equipment [Line Items] | ||
Land, land rights and easements | $130,816,000 | $128,123,000 |
Buildings and improvements | 168,041,000 | 163,852,000 |
Transmission, distribution and storage | 2,579,861,000 | 2,448,821,000 |
Generation | 1,044,764,000 | 533,450,000 |
Plant acquisition adjustment | 654,835,000 | 204,754,000 |
Other | 326,211,000 | 308,345,000 |
Construction work in progress | 221,868,000 | 104,891,000 |
Property, plant and equipment, gross | 5,126,396,000 | 3,892,236,000 |
Less accumulated depreciation | -1,368,388,000 | -1,202,108,000 |
Property, plant, and equipment, net | 3,758,008,000 | 2,690,128,000 |
Estimated Useful Life | 50 years | |
Property, plant, and equipment under capiltal leases | 23,400,000 | 25,600,000 |
Increase in PP&E due to hydro acquisition | 870,000,000 | |
Land and improvements [Member] | Minimum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Estimated Useful Life | 54 years | |
Land and improvements [Member] | Maximum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Estimated Useful Life | 96 years | |
Building and improvements [Member] | Minimum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Estimated Useful Life | 27 years | |
Building and improvements [Member] | Maximum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Estimated Useful Life | 64 years | |
Tranmission, distribution and storage[Member] | Minimum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Estimated Useful Life | 15 years | |
Tranmission, distribution and storage[Member] | Maximum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Estimated Useful Life | 85 years | |
Generation [Member] | Minimum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Estimated Useful Life | 25 years | |
Generation [Member] | Maximum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Estimated Useful Life | 50 years | |
Plant Acquisition adjustment [Member] | Minimum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Estimated Useful Life | 34 years | |
Plant Acquisition adjustment [Member] | Maximum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Estimated Useful Life | 50 years | |
Other [Member] | Minimum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Estimated Useful Life | 2 years | |
Other [Member] | Maximum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Estimated Useful Life | 45 years | |
Basin Capital Lease [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant, and equipment under capiltal leases | $23,100,000 | $25,100,000 |
Property_Plant_and_Equipment_J
Property, Plant and Equipment Joint Ownership (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Jointly Owned Utility Plant Interests [Line Items] | ||
Number of joint ownership interests in electric generating plants | 4 | |
Big Stone Generating Facility [Member] | ||
Jointly Owned Utility Plant Interests [Line Items] | ||
Ownership percentages | 23.40% | 23.40% |
Plant in service | $61,628 | $61,186 |
Accumulated depreciation | 46,741 | 45,792 |
Neal 4 Generating Facility [Member] | ||
Jointly Owned Utility Plant Interests [Line Items] | ||
Ownership percentages | 8.70% | 8.70% |
Plant in service | 59,579 | 57,633 |
Accumulated depreciation | 27,742 | 29,841 |
Coyote Generating Facility [Member] | ||
Jointly Owned Utility Plant Interests [Line Items] | ||
Ownership percentages | 10.00% | 10.00% |
Plant in service | 46,045 | 46,003 |
Accumulated depreciation | 36,649 | 36,076 |
Colstrip Unit 4 [Member] | ||
Jointly Owned Utility Plant Interests [Line Items] | ||
Ownership percentages | 30.00% | 30.00% |
Plant in service | 292,806 | 290,163 |
Accumulated depreciation | $72,976 | $70,072 |
Asset_Retirement_Obligation_Ro
Asset Retirement Obligation Rollforward (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
Liability at January 1, | $20,886 | $9,283 |
Accretion expense | 1,073 | 745 |
Liabilities incurred | 552 | 8,829 |
Liabilities settled | -85 | -27 |
Revision to cash flows | -991 | 2,056 |
Liability at December 31, | $21,435 | $20,886 |
Goodwill_Details
Goodwill (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Goodwill [Line Items] | ||
Goodwill | $355,128 | $355,128 |
Goodwill, Period Increase (Decrease) | 0 | 0 |
Electric | ||
Goodwill [Line Items] | ||
Goodwill | 241,100 | 241,100 |
Natural gas | ||
Goodwill [Line Items] | ||
Goodwill | $114,028 | $114,028 |
Risk_Management_and_Hedging_Ac2
Risk Management and Hedging Activities (Details) (USD $) | 12 Months Ended | |||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | |
swaps | ||||
Derivative [Line Items] | ||||
Number of forward starting swaps | 2 | |||
Amount of hedged item | $225,000,000 | |||
Debt issuance for Hydro transaction | 450,000,000 | |||
Realized loss on cash flow hedging derivatives | 18,388,000 | 0 | 0 | |
Physical purchase and sale of gas and electricity at fixed prices | 0 | 0 | ||
Pre-tax gain on cash flow hedge from AOCI to be reclassified during next 12 months | 600,000 | |||
No swaps outstanding, interest rate fair value derivatives | 0 | 0 | ||
Cash Flow Hedging [Member] | ||||
Derivative [Line Items] | ||||
Realized loss on cash flow hedging derivatives | 18,400,000 | |||
Interest rate swap at 3.217% [Member] | ||||
Derivative [Line Items] | ||||
Derivative, fixed interest rate | 3.22% | |||
Interest rate swap at 3.227% [Member] [Member] | ||||
Derivative [Line Items] | ||||
Derivative, fixed interest rate | 3.23% | |||
Interest Rate Swap [Member] | ||||
Derivative [Line Items] | ||||
Pre-tax loss on cash flow hedges remaining in AOCI | 13,800,000 | |||
Interest Rate Swap [Member] | Interest Expense [Member] | ||||
Derivative [Line Items] | ||||
Interest rate contracts, amount of gain reclassified from AOCI into income | 1,111,000 | |||
Commodity Contract [Member] | Forward Contracts [Member] | ||||
Derivative [Line Items] | ||||
None of the forward purchase contracts that do not qualify for NPNS contain credit risk-related contingent features | $0 |
Fair_Value_Measurements_Fair_V
Fair Value Measurements Fair Value Recurring Basis (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Level 1 to level 2 asset transfers, amount | $0 | $0 |
Level 2 to level 1 assets, transfers, amount | 0 | 0 |
Level 1 to level 2 liabilities transfers, amount | 0 | 0 |
Level 2 to level 1 liabilities, transfers, amount | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Restricted cash | 0 | 0 |
Rabbi trust investments | 0 | 0 |
Total | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Total Net Fair Value [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Restricted cash | 13,140 | 6,650 |
Rabbi trust investments | 21,594 | 16,477 |
Total | 34,734 | 23,127 |
Fair Value, Measurements, Recurring [Member] | Quoted Prices In Active Markets for Identical Assets or Liabilities, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Restricted cash | 13,140 | 6,650 |
Rabbi trust investments | 21,594 | 16,477 |
Total | 34,734 | 23,127 |
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Restricted cash | 0 | 0 |
Rabbi trust investments | 0 | 0 |
Total | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Restricted cash | 0 | 0 |
Rabbi trust investments | 0 | 0 |
Total | $0 | $0 |
Fair_Value_Measurements_Fair_V1
Fair Value Measurements Fair Value Financial Instruments (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, carrying value | $1,662,099 | $1,155,097 |
Long-term debt, fair value | $1,817,642 | $1,237,151 |
ShortTerm_Borrowings_and_Credi2
Short-Term Borrowings and Credit Arrangements (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Short-term Debt [Line Items] | ||
Commercial Paper, Balance | $267,840,000 | $140,950,000 |
Maximum borrowing capacity under commercial paper program | 340,000,000 | |
Short term borrowings maximum days outstanding | 270 days | |
Short-term Debt [Member] | ||
Short-term Debt [Line Items] | ||
Commercial Paper, Balance | 267,800,000 | 141,000,000 |
Commercial Paper, Interest Rate | 0.50% | 0.41% |
Maximum short-term debt outstanding | 276,900,000 | 199,900,000 |
Average short-term debt outstanding | $132,500,000 | $69,000,000 |
Weighted average interest rate | 0.39% | 0.40% |
ShortTerm_Borrowings_and_Credi3
Short-Term Borrowings and Credit Arrangements Unsecured Revolving Line of Credit (Details) (Unsecured Revolving Line Of Credit [Member], USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
numberofbanks | ||
Line of Credit Facility [Line Items] | ||
Maximum borrowing capacity | $350 | |
Number of institutions participating in the credit facility | 8 | |
Maximum number of institutions participating in the credit faciltiy pertaining to maximum contributory percentage | 1 | |
Line of Credit Facility, maximum percentage of total availability provided by a single lender | 21.00% | |
Commitment fees | 0.4 | 0.5 |
Letters of credit outstanding, amount | $0 | |
Maximum ratio of indebtedness to net capital threshold percentage | 65.00% | |
Eurodollar [Member] | Minimum [Member] | ||
Line of Credit Facility [Line Items] | ||
Basis spread on variable rate | 0.88% | |
Eurodollar [Member] | Maximum [Member] | ||
Line of Credit Facility [Line Items] | ||
Basis spread on variable rate | 1.75% | |
Base Rate [Member] | Minimum [Member] | ||
Line of Credit Facility [Line Items] | ||
Basis spread on variable rate | 0.00% | |
Base Rate [Member] | Maximum [Member] | ||
Line of Credit Facility [Line Items] | ||
Basis spread on variable rate | 0.75% |
ShortTerm_Borrowings_and_Credi4
Short-Term Borrowings and Credit Arrangements Bridge Loan (Details) (Bridge Loan [Member], USD $) | Nov. 01, 2013 |
In Millions, unless otherwise specified | days |
Bridge Loan [Member] | |
Short-term Debt [Line Items] | |
Bridge term loan facility | $900 |
Bridge term loan facility agreement term | 364 |
LongTerm_Debt_and_Capital_Leas2
Long-Term Debt and Capital Leases Schedule of Debt (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Debt Instrument [Line Items] | ||
Long-term debt | $1,662,099 | $1,155,097 |
Less current maturities | 0 | 0 |
Long-term debt, excluding current maturities | 1,662,099 | 1,155,097 |
Capital Lease | ||
Total Capital Leases | 29,892 | 31,557 |
Less current maturities | -1,730 | -1,662 |
Capital lease obligations, noncurrent | 28,162 | 29,895 |
Unsecured Debt | Unsecured Revolving Line Of Credit | ||
Debt Instrument [Line Items] | ||
Long-term debt | 0 | 0 |
Maturity date | 5-Nov-18 | |
Secured Debt | South Dakota, 6.05%, Due 2018 | ||
Debt Instrument [Line Items] | ||
Long-term debt | 55,000 | 55,000 |
Interest rate, stated percentage | 6.05% | |
Maturity date | 1-May-18 | |
Secured Debt | South Dakota, 5.01%, Due 2025 | ||
Debt Instrument [Line Items] | ||
Long-term debt | 64,000 | 64,000 |
Interest rate, stated percentage | 5.01% | |
Maturity date | 1-May-25 | |
Secured Debt | South Dakota, 4.15%, Due 2042 | ||
Debt Instrument [Line Items] | ||
Long-term debt | 30,000 | 30,000 |
Interest rate, stated percentage | 4.15% | |
Maturity date | 10-Aug-42 | |
Secured Debt | South Dakota, 4.30%, Due 2052 | ||
Debt Instrument [Line Items] | ||
Long-term debt | 20,000 | 20,000 |
Interest rate, stated percentage | 4.30% | |
Maturity date | 10-Aug-52 | |
Secured Debt | South Dakota, 4.85% Due 2043 | ||
Debt Instrument [Line Items] | ||
Long-term debt | 50,000 | 50,000 |
Interest rate, stated percentage | 4.85% | |
Maturity date | 19-Dec-43 | |
Secured Debt | Secured Debt South Dakota Due 2044 [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt | 30,000 | 0 |
Interest rate, stated percentage | 4.22% | |
Maturity date | 19-Dec-44 | |
Secured Debt | Montana, 6.04%, Due 2016 | ||
Debt Instrument [Line Items] | ||
Long-term debt | 150,000 | 150,000 |
Interest rate, stated percentage | 6.04% | |
Maturity date | 1-Sep-16 | |
Secured Debt | Montana, 6.34%, Due 2019 | ||
Debt Instrument [Line Items] | ||
Long-term debt | 250,000 | 250,000 |
Interest rate, stated percentage | 6.34% | |
Maturity date | 1-Apr-19 | |
Secured Debt | Montana, 5.71%, Due 2039 | ||
Debt Instrument [Line Items] | ||
Long-term debt | 55,000 | 55,000 |
Interest rate, stated percentage | 5.71% | |
Maturity date | 15-Oct-39 | |
Secured Debt | Montana, 5.01%, Due 2025 | ||
Debt Instrument [Line Items] | ||
Long-term debt | 161,000 | 161,000 |
Interest rate, stated percentage | 5.01% | |
Maturity date | 1-May-25 | |
Secured Debt | Montana, 4.15%, Due 2042 | ||
Debt Instrument [Line Items] | ||
Long-term debt | 60,000 | 60,000 |
Interest rate, stated percentage | 4.15% | |
Maturity date | 10-Aug-42 | |
Secured Debt | Montana, 4.30%, Due 2052 | ||
Debt Instrument [Line Items] | ||
Long-term debt | 40,000 | 40,000 |
Interest rate, stated percentage | 4.30% | |
Maturity date | 10-Aug-52 | |
Secured Debt | Montana 4.85%, Due 2043 | ||
Debt Instrument [Line Items] | ||
Long-term debt | 15,000 | 15,000 |
Interest rate, stated percentage | 4.85% | |
Maturity date | 19-Dec-43 | |
Secured Debt | Montana 3.99% Due 2028 | ||
Debt Instrument [Line Items] | ||
Long-term debt | 35,000 | 35,000 |
Interest rate, stated percentage | 3.99% | |
Maturity date | 19-Dec-28 | |
Secured Debt | Montana 4.176% Due 2044 [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt | 450,000 | 0 |
Interest rate, stated percentage | 4.18% | |
Maturity date | 15-Nov-44 | |
Secured Debt | Montana, 4.65%, Due 2023 | ||
Debt Instrument [Line Items] | ||
Long-term debt | 170,205 | 170,205 |
Interest rate, stated percentage | 4.65% | |
Maturity date | 1-Aug-23 | |
Secured Debt | New Market Tax Credit Financing [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt | 26,977 | 0 |
Interest rate, stated percentage | 1.15% | |
Maturity date | 1-Jul-46 | |
Unamortized Discount Premium, Net | Discount on Notes and Bonds | ||
Debt Instrument [Line Items] | ||
Long-term debt | ($83) | ($108) |
LongTerm_Debt_and_Capital_Leas3
Long-Term Debt and Capital Leases Schedule of Long-Term Debt (Details) (Secured Debt, USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2014 |
Secured Debt South Dakota Due 2044 [Member] | |
Debt Instrument [Line Items] | |
Debt Instrument, Issuance Date | 19-Dec-14 |
Debt instrument, face amount | $30 |
Interest rate, stated percentage | 4.22% |
Maturity date | 19-Dec-44 |
Montana 4.176% Due 2044 [Member] | |
Debt Instrument [Line Items] | |
Debt Instrument, Issuance Date | 15-Nov-14 |
Debt instrument, face amount | $450 |
Interest rate, stated percentage | 4.18% |
Maturity date | 15-Nov-44 |
LongTerm_Debt_and_Capital_Leas4
Long-Term Debt and Capital Leases Other Long-term Debt (Details) (USD $) | 12 Months Ended | 1 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Jul. 31, 2021 | |
Debt Instrument [Line Items] | ||||
Other Long-term Debt | $450,000,000 | |||
Investment in New Market Tax Credit Program | 18,169,000 | 0 | 0 | |
New Market Tax Credit [Member] | ||||
Debt Instrument [Line Items] | ||||
Other Long-term Debt | 27,000,000 | |||
New Market Tax Credit Financing [Member] | ||||
Debt Instrument [Line Items] | ||||
Investments | 18,200,000 | |||
Debt Instrument, term | 30 years | |||
Interest rate, stated percentage | 1.15% | |||
Investment in New Market Tax Credit Program | 8,800,000 | |||
Scenario, Forecast [Member] | New Market Tax Credit Financing [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt instrument, forgiveness | $7,900,000 |
LongTerm_Debt_and_Capital_Leas5
Long-Term Debt and Capital Leases (Details) (USD $) | Dec. 31, 2014 |
In Millions, unless otherwise specified | |
Maturities of Long-term Debt [Abstract] | |
2015 | $1.70 |
2016 | 151.8 |
2017 | 2 |
2018 | 57.1 |
2019 | $252.30 |
Income_Taxes_Narrative_Details
Income Taxes Narrative (Details) (Internal Revenue Service (IRS) [Member]) | 12 Months Ended |
Dec. 31, 2014 | |
Internal Revenue Service (IRS) [Member] | |
Income Tax Contingency [Line Items] | |
Earliest year subject to examination | 2000 |
Income_Taxes_Domestic_Tax_Comp
Income Taxes Domestic Tax Components (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Federal | |||
Current | ($405) | $108 | $5,358 |
Deferred | -5,658 | 18,150 | 13,197 |
Investment tax credits | -273 | -335 | -376 |
State | |||
Current | 18 | 83 | -1,411 |
Deferred | -3,954 | -3,705 | 1,321 |
Income tax expense (benefit) | ($10,272) | $14,301 | $18,089 |
Income_Taxes_Effective_Rate_Re
Income Taxes Effective Rate Reconciliation (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Effective Income Tax Rate Reconciliation, Percent [Abstract] | |||
Federal statutory rate | 35.00% | 35.00% | 35.00% |
State income, net of federal provisions | -1.80% | -2.80% | 0.90% |
Flow-through repair deduction | -22.90% | -16.40% | -14.00% |
Release of unrecognized tax benefit | -11.40% | 0.00% | 0.00% |
Prior year permanent return to accrual adjustments | -4.70% | 0.50% | -1.60% |
Production tax credits | -2.80% | -2.90% | 0.00% |
Plant and depreciation of flow through items | 0.10% | -0.50% | -1.10% |
Recognition of state net operating loss benefit / valuation allowance release | 0.00% | 0.00% | -2.10% |
Other, net | -0.80% | 0.30% | -1.60% |
Effective income tax rate | -9.30% | 13.20% | 15.50% |
Income (Loss) Before Income Taxes | $110,414 | $108,284 | $116,495 |
Income tax calculated at 35% federal statutory rate | 38,645 | 37,899 | 40,774 |
State income, net of federal provisions | -1,969 | -3,082 | 1,078 |
Flow-through repairs deductions | -25,268 | -17,763 | -16,350 |
Release of unrecognized tax benefit | -12,607 | 0 | 0 |
Prior year permanent return to accrual adjustments | -5,172 | 541 | -1,901 |
Production tax credits | -3,136 | -3,171 | 0 |
Plant and depreciation of flow through items | 74 | -584 | -1,281 |
Recognition of state net operating loss benefit / valuation allowance release | 0 | 0 | -2,398 |
Other, net | -839 | 461 | -1,833 |
Total reconciling items | -48,917 | -23,598 | -22,685 |
Income tax expense (benefit) | ($10,272) | $14,301 | $18,089 |
Income_Taxes_Deferred_Tax_Liab
Income Taxes Deferred Tax Liability (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Deferred Tax Assets, [Abstract] | ||
Pension / postretirement benefits | $51,817 | $20,522 |
NOL carryforward | 42,787 | 16,758 |
Unbilled revenue | 19,863 | 18,136 |
Compensation accruals | 17,315 | 10,409 |
Customer advances | 11,817 | 10,781 |
AMT credit carryforwards | 10,357 | 10,357 |
Environmental liability | 8,968 | 9,026 |
Production tax credits | 6,452 | 3,171 |
Interest rate hedges | 6,251 | 0 |
QF obligations | 2,162 | 2,066 |
Reserves and accruals | 1,772 | 12,097 |
Property taxes | 881 | 796 |
Regulatory liabilities | 975 | 659 |
Regulatory assets | 0 | 7,248 |
Other, net | 4,415 | 2,827 |
Deferred Tax Asset | 185,832 | 124,853 |
Deferred Tax Liabilities, [Abstract] | ||
Excess tax depreciation | -349,428 | -304,071 |
Goodwill amortization | -137,090 | -122,798 |
Flow through depreciation | -103,677 | -79,016 |
Regulatory assets | -21,394 | 0 |
Deferred Tax Liability | -611,589 | -505,885 |
Deferred Tax Liability, net | ($425,757) | ($381,032) |
Income_Taxes_Operating_Loss_De
Income Taxes Operating Loss (Details) (USD $) | Dec. 31, 2014 |
In Millions, unless otherwise specified | |
Domestic Tax Authority [Member] | |
Operating Loss Carryforwards [Line Items] | |
NOL carryforward | $351 |
State and Local Jurisdiction [Member] | |
Operating Loss Carryforwards [Line Items] | |
NOL carryforward | 264 |
Year 2025 [Member] | Domestic Tax Authority [Member] | |
Operating Loss Carryforwards [Line Items] | |
NOL carryforwards, subject to expiration | 16.3 |
Year 2028 [Member] | Domestic Tax Authority [Member] | |
Operating Loss Carryforwards [Line Items] | |
NOL carryforwards, subject to expiration | 95.5 |
Year 2029 [Member] | Domestic Tax Authority [Member] | |
Operating Loss Carryforwards [Line Items] | |
NOL carryforwards, subject to expiration | 23.8 |
Year 2031 [Member] | Domestic Tax Authority [Member] | |
Operating Loss Carryforwards [Line Items] | |
NOL carryforwards, subject to expiration | 127.5 |
Year 2033 [Member] | Domestic Tax Authority [Member] | |
Operating Loss Carryforwards [Line Items] | |
NOL carryforwards, subject to expiration | 13.3 |
Year 2034 [Member] [Member] | Domestic Tax Authority [Member] | |
Operating Loss Carryforwards [Line Items] | |
NOL carryforwards, subject to expiration | 74.9 |
Year 2015 [Member] | State and Local Jurisdiction [Member] | |
Operating Loss Carryforwards [Line Items] | |
NOL carryforwards, subject to expiration | 74 |
Year 2016 [Member] | State and Local Jurisdiction [Member] | |
Operating Loss Carryforwards [Line Items] | |
NOL carryforwards, subject to expiration | 18.6 |
Year 2018 [Member] | State and Local Jurisdiction [Member] | |
Operating Loss Carryforwards [Line Items] | |
NOL carryforwards, subject to expiration | 101.2 |
Year 2020 [Member] | State and Local Jurisdiction [Member] | |
Operating Loss Carryforwards [Line Items] | |
NOL carryforwards, subject to expiration | 10.5 |
Year 2021 [Member] | State and Local Jurisdiction [Member] | |
Operating Loss Carryforwards [Line Items] | |
NOL carryforwards, subject to expiration | $59.70 |
Income_Taxes_Uncertain_Tax_Pos
Income Taxes Uncertain Tax Positions (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Income Tax Contingency [Line Items] | |||
Unrecognized tax benefit more likely than not percentage threshold | 50.00% | ||
Unrecognized tax benefits that would impact effective tax rate | $62,400,000 | $79,000,000 | |
Interest and penalty expense | 400,000 | 400,000 | |
Accrual for interest and penalties | 400,000 | ||
Safe harbor adoption | 4,300,000 | ||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Unrecognized Tax Benefits at January 1 | 113,466,000 | 113,291,000 | 131,949,000 |
Gross increases - tax positions in prior period | 0 | 0 | 0 |
Gross decreases - tax positions in prior periods | 0 | 0 | -1,766,000 |
Gross increases - tax positions in current period | 909,000 | 518,000 | 2,391,000 |
Gross decreases - tax positions in current period | -5,597,000 | -343,000 | -19,283,000 |
Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations | -12,849,000 | 0 | |
Unrecognized Tax Benefits at December 31 | $95,929,000 | $113,466,000 | $113,291,000 |
Comprehensive_Income_Loss_Deta
Comprehensive Income (Loss) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Other Comprehensive Loss, Before Tax [Abstract] | |||
Foreign currency translation adjustment | $265 | $166 | ($54) |
Reclassification of net gains on derivative instruments to net income | -1,110 | -1,188 | -1,188 |
Realized loss on cash flow hedging derivatives | -18,388 | 0 | 0 |
Pension and postretirement medical liability adjustment | 134 | 1,568 | -897 |
Other comprehensive loss, before tax | -19,099 | 546 | -2,139 |
Other Comprehensive Loss, Tax [Abstract] | |||
Foreign currency translation adjustment | 0 | 0 | 0 |
Reclassification of net gains on derivative instruments to net income | 426 | 458 | 456 |
Realized loss on cash flow hedging derivatives | 7,243 | 0 | 0 |
Pension and postretirement medical liability adjustment | -52 | -605 | 344 |
Other comprehensive loss, tax | 7,617 | -147 | 800 |
Other Comprehensive Loss, Net of Tax [Abstract] | |||
Foreign currency translation adjustment | 265 | 166 | -54 |
Reclassification of net gains on derivative instruments to net income | -684 | -730 | -732 |
Realized loss on cash flow hedging activities | -11,145 | 0 | 0 |
Postretirement medical liability adjustment | 82 | 963 | -553 |
Other comprehensive loss, net of tax | -11,482 | 399 | -1,339 |
Accumulated Other Comprehensive Income, Net of Tax [Abstract] | |||
Foreign currency translation | 797 | 532 | |
Derivative instruments designated as cash flow hedges | -8,316 | 3,513 | |
Pension and postretirement medical plans | -1,247 | -1,329 | |
Accumulated other comprehensive income | -8,766 | 2,716 | |
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | |||
Other Comprehensive Loss, Net of Tax [Abstract] | |||
Other comprehensive loss, net of tax | -11,829 | -730 | |
Accumulated Other Comprehensive Income, Net of Tax [Abstract] | |||
Accumulated other comprehensive income | -8,316 | 3,513 | 4,243 |
Accumulated Defined Benefit Plans Adjustment [Member] | |||
Other Comprehensive Loss, Net of Tax [Abstract] | |||
Other comprehensive loss, net of tax | 82 | 963 | |
Accumulated Other Comprehensive Income, Net of Tax [Abstract] | |||
Accumulated other comprehensive income | ($1,247) | ($1,329) | ($2,292) |
Comprehensive_Income_Loss_Comp
Comprehensive Income (Loss) Components of AOCI (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||
Beginning balance | $2,716 | ||
Net current-period other comprehensive (loss) income | -11,482 | 399 | -1,339 |
Ending balance | -8,766 | 2,716 | |
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | |||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||
Beginning balance | 3,513 | 4,243 | |
Other comprehensive income before reclassifications | -11,145 | 0 | |
Amounts reclassified from accumulated other comprehensive income | 0 | 0 | |
Net current-period other comprehensive (loss) income | -11,829 | -730 | |
Ending balance | -8,316 | 3,513 | |
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Interest Expense [Member] | |||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||
Amounts reclassified from accumulated other comprehensive income | -684 | -730 | |
Accumulated Defined Benefit Plans Adjustment [Member] | |||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||
Beginning balance | -1,329 | -2,292 | |
Other comprehensive income before reclassifications | 0 | 0 | |
Amounts reclassified from accumulated other comprehensive income | 82 | 963 | |
Net current-period other comprehensive (loss) income | 82 | 963 | |
Ending balance | -1,247 | -1,329 | |
Accumulated Defined Benefit Plans Adjustment [Member] | Interest Expense [Member] | |||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||
Amounts reclassified from accumulated other comprehensive income | 0 | 0 | |
Foreign Currency Gain (Loss) [Member] | |||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||
Beginning balance | 532 | 366 | |
Other comprehensive income before reclassifications | 265 | 166 | |
Amounts reclassified from accumulated other comprehensive income | 0 | 0 | |
Net current-period other comprehensive (loss) income | 265 | 166 | |
Ending balance | 797 | 532 | |
Foreign Currency Gain (Loss) [Member] | Interest Expense [Member] | |||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||
Amounts reclassified from accumulated other comprehensive income | 0 | 0 | |
Other Comprehensive Income (Loss) [Member] | |||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||
Beginning balance | 2,716 | 2,317 | |
Other comprehensive income before reclassifications | -10,880 | 166 | |
Amounts reclassified from accumulated other comprehensive income | 82 | 963 | |
Net current-period other comprehensive (loss) income | -11,482 | 399 | |
Ending balance | -8,766 | 2,716 | |
Other Comprehensive Income (Loss) [Member] | Interest Expense [Member] | |||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||
Amounts reclassified from accumulated other comprehensive income | ($684) | ($730) |
Operating_Leases_Details
Operating Leases (Details) (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | |
2015 | $1,996 |
2016 | 1,484 |
2017 | 671 |
2018 | 70 |
2019 | $61 |
Operating_Leases_Narrative_Det
Operating Leases Narrative (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Leases [Abstract] | |||
Lease and rental expense | $2.20 | $2 | $2.20 |
Employee_Benefit_Plans_Benefit
Employee Benefit Plans Benefit Obligation And Funded Status (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Pension Plan [Member] | |||
Change in Benefit Obligation: | |||
Obligation beginning of period | $567,866,000 | $609,643,000 | |
Service cost | 10,830,000 | 13,465,000 | |
Interest cost | 26,147,000 | 22,719,000 | |
Actuarial (gain) loss | 107,023,000 | -54,671,000 | |
Settlements | 0 | 0 | |
Benefits paid | -23,422,000 | -23,290,000 | |
Benefit obligation end of period | 688,444,000 | 567,866,000 | 609,643,000 |
Change in Fair Value of Plan Assets: | |||
Employer contributions | 8,700,000 | 7,800,000 | 7,200,000 |
Benefits paid | -23,422,000 | -23,290,000 | |
Amounts recognized in balance sheet consist of: | |||
Current liability | 0 | 0 | |
Noncurrent liability | -132,393,000 | -51,514,000 | |
Net amount recognized | -132,393,000 | -51,514,000 | |
Amounts recognized in AOCI consist of: | |||
Prior service cost | 0 | 0 | |
Net actuarial gain | 0 | 0 | |
Total | -153,770,000 | -72,525,000 | |
Plans with Benefit Obligations in Excess of Plan Assets [Abstract] | |||
Projected benefit obligation | 688,400,000 | 567,900,000 | |
Accumulated benefit obligation | 685,000,000 | 565,000,000 | |
Fair value of plan assets | 556,100,000 | 516,400,000 | |
Pension Plan [Member] | Pension Costs [Member] | |||
Amounts recognized in regulatory assets consist of: | |||
Prior service (cost) credit | -502,000 | -748,000 | |
Net actuarial loss | -153,268,000 | -71,777,000 | |
Pension Plan [Member] | Changes Measurement [Member] | |||
Change in Benefit Obligation: | |||
Benefits paid | -23,422,000 | -23,290,000 | |
Change in Fair Value of Plan Assets: | |||
Fair value of plan assets at beginning of period | 516,352,000 | 472,936,000 | |
Return on plan assets | 52,921,000 | 55,006,000 | |
Employer contributions | 10,200,000 | 11,700,000 | |
Benefits paid | -23,422,000 | -23,290,000 | |
Fair value of plan assets at end of period | 556,051,000 | 516,352,000 | |
Funded Status | -132,393,000 | -51,514,000 | |
Other Postretirement Benefit Plan [Member] | |||
Change in Benefit Obligation: | |||
Obligation beginning of period | 30,084,000 | 34,040,000 | |
Service cost | 465,000 | 541,000 | |
Interest cost | 859,000 | 877,000 | |
Actuarial (gain) loss | 958,000 | -3,156,000 | |
Settlements | 690,000 | 0 | |
Benefits paid | -3,052,000 | -2,218,000 | |
Benefit obligation end of period | 30,004,000 | 30,084,000 | |
Change in Fair Value of Plan Assets: | |||
Benefits paid | -3,052,000 | -2,218,000 | |
Amounts recognized in balance sheet consist of: | |||
Current liability | -1,169,000 | -1,178,000 | |
Noncurrent liability | -10,795,000 | -10,723,000 | |
Net amount recognized | -11,964,000 | -11,901,000 | |
Amounts recognized in AOCI consist of: | |||
Prior service cost | -1,151,000 | -1,302,000 | |
Net actuarial gain | -409,000 | -971,000 | |
Total | 10,593,000 | 12,167,000 | |
Other Postretirement Benefit Plan [Member] | Pension Costs [Member] | |||
Amounts recognized in regulatory assets consist of: | |||
Prior service (cost) credit | 17,098,000 | 19,247,000 | |
Net actuarial loss | -4,945,000 | -4,807,000 | |
Other Postretirement Benefit Plan [Member] | Changes Measurement [Member] | |||
Change in Benefit Obligation: | |||
Benefits paid | -3,052,000 | -2,218,000 | |
Change in Fair Value of Plan Assets: | |||
Fair value of plan assets at beginning of period | 18,183,000 | 15,893,000 | |
Return on plan assets | 1,391,000 | 2,662,000 | |
Employer contributions | 1,518,000 | 1,846,000 | |
Benefits paid | -3,052,000 | -2,218,000 | |
Fair value of plan assets at end of period | 18,040,000 | 18,183,000 | |
Funded Status | ($11,964,000) | ($11,901,000) |
Employee_Benefit_Plans_Net_Per
Employee Benefit Plans Net Periodic Costs (Details) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2015 |
Pension Plan [Member] | ||||
Components of Net Periodic Benefit Cost | ||||
Service cost | $10,830 | $13,465 | ||
Interest cost | 26,147 | 22,719 | ||
Recognized actuarial loss | -107,023 | 54,671 | ||
Settlements | 0 | 0 | ||
Net Periodic Costs [Member] | Pension Plan [Member] | ||||
Components of Net Periodic Benefit Cost | ||||
Service cost | 10,830 | 13,465 | 11,488 | |
Interest cost | 26,147 | 22,719 | 23,823 | |
Expected return on plan assets | -29,506 | -32,491 | -29,996 | |
Amortization of prior service cost (credit) | 246 | 246 | 246 | |
Recognized actuarial loss | 2,118 | 11,648 | 8,646 | |
Settlements | 0 | 0 | 0 | |
Net Periodic Benefit Cost (Credit) | 9,835 | 15,587 | 14,207 | |
Net Periodic Costs [Member] | Other Pension Plan, Postretirement or Supplemental Plans [Member] | ||||
Components of Net Periodic Benefit Cost | ||||
Service cost | 465 | 541 | 541 | |
Interest cost | 859 | 877 | 1,167 | |
Expected return on plan assets | -981 | -1,019 | -1,021 | |
Amortization of prior service cost (credit) | -1,998 | -1,998 | -1,998 | |
Recognized actuarial loss | 348 | 1,271 | 790 | |
Settlements | 690 | 0 | 0 | |
Net Periodic Benefit Cost (Credit) | -617 | -328 | -521 | |
Scenario, Forecast [Member] | Net Periodic Costs [Member] | Pension Plan [Member] | ||||
Components of Net Periodic Benefit Cost | ||||
Amortization of prior service cost (credit) | -246 | |||
Scenario, Forecast [Member] | Net Periodic Costs [Member] | Other Pension Plan, Postretirement or Supplemental Plans [Member] | ||||
Components of Net Periodic Benefit Cost | ||||
Amortization of prior service cost (credit) | 1,998 | |||
Scenario, Forecast [Member] | Pension Costs [Member] | Pension Plan [Member] | ||||
Components of Net Periodic Benefit Cost | ||||
Accumulated gain | -10,470 | |||
Scenario, Forecast [Member] | Pension Costs [Member] | Other Pension Plan, Postretirement or Supplemental Plans [Member] | ||||
Components of Net Periodic Benefit Cost | ||||
Accumulated gain | ($325) |
Employee_Benefit_Plans_Actuari
Employee Benefit Plans Actuarial Assumptions (Details) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2015 |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Defined Benefit Plan, Target Plan Asset Allocations Range Maximum | 5.00% | |||
Discount rate change [Member] | ||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Defined Benefit Plan, Actuarial Gain (Loss) | 73,600 | |||
Change in mortality rate assumption [Member] | ||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Defined Benefit Plan, Actuarial Gain (Loss) | 33,800 | |||
Pension Plan [Member] | ||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Defined Benefit Plan, Actuarial Gain (Loss) | 107,023 | -54,671 | ||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ||||
Expected rate of return on plan assets | 5.80% | 7.00% | 7.00% | |
Pension Plan [Member] | Nonunion [Member] | ||||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ||||
Long-term rate of increase in compensation levels | 3.58% | 3.58% | 3.58% | |
Pension Plan [Member] | Union [Member] | ||||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ||||
Long-term rate of increase in compensation levels | 3.50% | 3.50% | 3.50% | |
Pension Plan [Member] | Minimum [Member] | ||||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ||||
Discount rate | 3.75% | 4.55% | 3.55% | |
Pension Plan [Member] | Maximum [Member] | ||||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ||||
Discount rate | 3.90% | 4.75% | 3.80% | |
Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Defined Benefit Plan, Actuarial Gain (Loss) | 958 | ($3,156) | ||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ||||
Expected rate of return on plan assets | 5.80% | 7.00% | 7.00% | |
Defined Benefit Plan, Assumed Health Care Cost Trend Rates [Abstract] | ||||
Health care cost trend rate assumed for current year | 8.25% | |||
Health care cost trend rate decrease assumed for next fiscal year | 0.25% | |||
Ultimate health care cost trend rate | 4.50% | |||
Year that rate reaches ultimate trend rate | 2029 | |||
Other Postretirement Benefit Plan [Member] | Nonunion [Member] | ||||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ||||
Long-term rate of increase in compensation levels | 3.58% | 3.58% | 3.58% | |
Other Postretirement Benefit Plan [Member] | Union [Member] | ||||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ||||
Long-term rate of increase in compensation levels | 3.50% | 3.50% | 3.50% | |
Other Postretirement Benefit Plan [Member] | Minimum [Member] | ||||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ||||
Discount rate | 3.20% | 3.75% | 2.25% | |
Other Postretirement Benefit Plan [Member] | Maximum [Member] | ||||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ||||
Discount rate | 3.40% | 4.20% | 3.20% | |
Domestic [Member] | Equity Securities [Member] | Pension Plan [Member] | ||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Defined Benefit Plan, Target Plan Asset Allocations | 34.00% | 30.00% | ||
Domestic [Member] | Equity Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Defined Benefit Plan, Target Plan Asset Allocations | 50.00% | 50.00% | ||
Domestic [Member] | Debt Securities [Member] | Pension Plan [Member] | ||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Defined Benefit Plan, Target Plan Asset Allocations | 55.00% | 60.00% | ||
Domestic [Member] | Debt Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Defined Benefit Plan, Target Plan Asset Allocations | 40.00% | 40.00% | ||
Scenario, Forecast [Member] | ||||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ||||
Expected rate of return on plan assets | 5.80% |
Employee_Benefit_Plans_Investm
Employee Benefit Plans Investment Strategy (Details) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Target asset allocation allowable range of plus or minus | 5.00% | |||
Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Actual allocation of investments by plan | 100.00% | 100.00% | ||
Cash and Cash Equivalents [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Actual allocation of investments by plan | 0.20% | 1.80% | ||
Debt Securities [Member] | Pension Plan [Member] | Domestic [Member] | ||||
Defined Benefit Plan, Assets, Target Allocations [Abstract] | ||||
Target allocation of investments by plan | 55.00% | 60.00% | ||
Debt Securities [Member] | Pension Plan [Member] | International [Member] | ||||
Defined Benefit Plan, Assets, Target Allocations [Abstract] | ||||
Target allocation of investments by plan | 5.00% | 5.00% | ||
Debt Securities [Member] | Other Postretirement Benefit Plan [Member] | Domestic [Member] | ||||
Defined Benefit Plan, Assets, Target Allocations [Abstract] | ||||
Target allocation of investments by plan | 40.00% | 40.00% | ||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Actual allocation of investments by plan | 37.20% | 38.60% | ||
Debt Securities [Member] | Other Postretirement Benefit Plan [Member] | International [Member] | ||||
Defined Benefit Plan, Assets, Target Allocations [Abstract] | ||||
Target allocation of investments by plan | 0.00% | 0.00% | ||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Actual allocation of investments by plan | 0.00% | 0.30% | ||
Equity Securities [Member] | Pension Plan [Member] | Domestic [Member] | ||||
Defined Benefit Plan, Assets, Target Allocations [Abstract] | ||||
Target allocation of investments by plan | 34.00% | 30.00% | ||
Equity Securities [Member] | Pension Plan [Member] | International [Member] | ||||
Defined Benefit Plan, Assets, Target Allocations [Abstract] | ||||
Target allocation of investments by plan | 6.00% | 5.00% | ||
Equity Securities [Member] | Other Postretirement Benefit Plan [Member] | Domestic [Member] | ||||
Defined Benefit Plan, Assets, Target Allocations [Abstract] | ||||
Target allocation of investments by plan | 50.00% | 50.00% | ||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Actual allocation of investments by plan | 53.90% | 50.10% | ||
Equity Securities [Member] | Other Postretirement Benefit Plan [Member] | International [Member] | ||||
Defined Benefit Plan, Assets, Target Allocations [Abstract] | ||||
Target allocation of investments by plan | 10.00% | 10.00% | ||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Actual allocation of investments by plan | 8.70% | 9.20% | ||
SOUTH DAKOTA | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Actual allocation of investments by plan | 100.00% | 100.00% | ||
SOUTH DAKOTA | Cash and Cash Equivalents [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Actual allocation of investments by plan | 0.10% | 0.10% | ||
SOUTH DAKOTA | Debt Securities [Member] | Pension Plan [Member] | Domestic [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Actual allocation of investments by plan | 65.60% | 64.70% | ||
SOUTH DAKOTA | Debt Securities [Member] | Pension Plan [Member] | International [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Actual allocation of investments by plan | 4.50% | 4.90% | ||
SOUTH DAKOTA | Equity Securities [Member] | Pension Plan [Member] | Domestic [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Actual allocation of investments by plan | 25.10% | 25.30% | ||
SOUTH DAKOTA | Equity Securities [Member] | Pension Plan [Member] | International [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Actual allocation of investments by plan | 4.70% | 5.00% | ||
MONTANA | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Actual allocation of investments by plan | 100.00% | 100.00% | ||
MONTANA | Cash and Cash Equivalents [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Actual allocation of investments by plan | 0.00% | 0.00% | ||
MONTANA | Debt Securities [Member] | Pension Plan [Member] | Domestic [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Actual allocation of investments by plan | 56.00% | 58.60% | ||
MONTANA | Debt Securities [Member] | Pension Plan [Member] | International [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Actual allocation of investments by plan | 4.40% | 4.90% | ||
MONTANA | Equity Securities [Member] | Pension Plan [Member] | Domestic [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Actual allocation of investments by plan | 34.10% | 31.40% | ||
MONTANA | Equity Securities [Member] | Pension Plan [Member] | International [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Actual allocation of investments by plan | 5.50% | 5.10% | ||
Fair Value, Inputs, Level 1 [Member] | Pension Plan [Member] | ||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Cash and cash equivalents | 0 | 0 | ||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | 0 | ||
Fair Value, Inputs, Level 1 [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Cash and cash equivalents | 0 | 0 | ||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | 0 | ||
Fair Value, Inputs, Level 1 [Member] | US Small Midcap Growth [Member] | Equity Securities [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | [1] | 0 | |
Fair Value, Inputs, Level 1 [Member] | US Small Midcap Growth [Member] | Equity Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | [1] | 0 | |
Fair Value, Inputs, Level 1 [Member] | US Small Midcap Value [Member] | Equity Securities [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | [1] | 0 | |
Fair Value, Inputs, Level 1 [Member] | US Small Midcap Value [Member] | Equity Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | [1] | 0 | |
Fair Value, Inputs, Level 1 [Member] | S&P 500 Index [Member] | Equity Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | [1] | 0 | |
Fair Value, Inputs, Level 1 [Member] | US Large Cap Growth [Member] | Equity Securities [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | [1] | 0 | |
Fair Value, Inputs, Level 1 [Member] | US Large Cap Growth [Member] | Equity Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | [1] | 0 | |
Fair Value, Inputs, Level 1 [Member] | US Large Cap Value [Member] | Equity Securities [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | [1] | 0 | |
Fair Value, Inputs, Level 1 [Member] | US Large Cap Value [Member] | Equity Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | [1] | 0 | |
Fair Value, Inputs, Level 1 [Member] | US Large Cap Passive [Member] | Equity Securities [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | [1] | 0 | |
Fair Value, Inputs, Level 1 [Member] | US Large Cap Passive [Member] | Equity Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | [1] | 0 | |
Fair Value, Inputs, Level 1 [Member] | Non US Core [Member] | Equity Securities [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | [1] | 0 | |
Fair Value, Inputs, Level 1 [Member] | Non US Core [Member] | Equity Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | [1] | 0 | |
Fair Value, Inputs, Level 1 [Member] | Emerging Markets [Member] | Equity Securities [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | [1] | 0 | |
Fair Value, Inputs, Level 1 [Member] | Emerging Markets [Member] | Equity Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | [1] | 0 | |
Fair Value, Inputs, Level 1 [Member] | Passive Bond Market [Member] | Debt Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | [1] | 0 | |
Fair Value, Inputs, Level 1 [Member] | US Core Opportunistic [Member] | Debt Securities [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | [2] | 0 | |
Fair Value, Inputs, Level 1 [Member] | US Core Opportunistic [Member] | Debt Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | [2] | 0 | |
Fair Value, Inputs, Level 1 [Member] | US Passive [Member] | Debt Securities [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | [2] | 0 | |
Fair Value, Inputs, Level 1 [Member] | US Passive [Member] | Debt Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | 0 | ||
Fair Value, Inputs, Level 1 [Member] | Long Duration [Member] | Debt Securities [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | [2] | 0 | |
Fair Value, Inputs, Level 1 [Member] | Long Duration [Member] | Debt Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | [2] | 0 | |
Fair Value, Inputs, Level 1 [Member] | Long Duration Investment Grade [Member] | Debt Securities [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | 0 | ||
Fair Value, Inputs, Level 1 [Member] | Long Duration Investment Grade [Member] | Debt Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | [2] | 0 | |
Fair Value, Inputs, Level 1 [Member] | Long Duration Passive [Member] | Debt Securities [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | [2] | 0 | |
Fair Value, Inputs, Level 1 [Member] | Long Duration Passive [Member] | Debt Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | 0 | ||
Fair Value, Inputs, Level 1 [Member] | Opportunistic [Member] | Debt Securities [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | [2] | 0 | |
Fair Value, Inputs, Level 1 [Member] | Opportunistic [Member] | Debt Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | 0 | ||
Fair Value, Inputs, Level 1 [Member] | Non US Passive [Member] | Debt Securities [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | [2] | 0 | |
Fair Value, Inputs, Level 1 [Member] | Non US Passive [Member] | Debt Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | [2] | 0 | |
Fair Value, Inputs, Level 1 [Member] | Active Long Corporate [Member] | Debt Securities [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | [2] | 0 | |
Fair Value, Inputs, Level 1 [Member] | Active Long Corporate [Member] | Debt Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | 0 | ||
Fair Value, Inputs, Level 1 [Member] | Participating Group Annuity Contract [Member] | Debt Securities [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | [2] | 0 | |
Fair Value, Inputs, Level 2 [Member] | Pension Plan [Member] | ||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Cash and cash equivalents | 126 | 168 | ||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 556,051 | 516,352 | ||
Fair Value, Inputs, Level 2 [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Cash and cash equivalents | 44 | 318 | ||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 18,040 | 18,183 | ||
Fair Value, Inputs, Level 2 [Member] | US Small Midcap Growth [Member] | Equity Securities [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 16,605 | [1] | 13,764 | |
Fair Value, Inputs, Level 2 [Member] | US Small Midcap Growth [Member] | Equity Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 752 | [1] | 751 | |
Fair Value, Inputs, Level 2 [Member] | US Small Midcap Value [Member] | Equity Securities [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 15,264 | [1] | 13,664 | |
Fair Value, Inputs, Level 2 [Member] | US Small Midcap Value [Member] | Equity Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 721 | [1] | 736 | |
Fair Value, Inputs, Level 2 [Member] | S&P 500 Index [Member] | Equity Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 8,234 | [1] | 7,321 | |
Fair Value, Inputs, Level 2 [Member] | US Large Cap Growth [Member] | Equity Securities [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 48,560 | [1] | 42,094 | |
Fair Value, Inputs, Level 2 [Member] | US Large Cap Growth [Member] | Equity Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 6 | [1] | 98 | |
Fair Value, Inputs, Level 2 [Member] | US Large Cap Value [Member] | Equity Securities [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 48,785 | [1] | 42,102 | |
Fair Value, Inputs, Level 2 [Member] | US Large Cap Value [Member] | Equity Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 6 | [1] | 98 | |
Fair Value, Inputs, Level 2 [Member] | US Large Cap Passive [Member] | Equity Securities [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 54,775 | [1] | 47,227 | |
Fair Value, Inputs, Level 2 [Member] | US Large Cap Passive [Member] | Equity Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 7 | [1] | 110 | |
Fair Value, Inputs, Level 2 [Member] | Non US Core [Member] | Equity Securities [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 22,634 | [1] | 20,015 | |
Fair Value, Inputs, Level 2 [Member] | Non US Core [Member] | Equity Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 1,495 | [1] | 1,595 | |
Fair Value, Inputs, Level 2 [Member] | Emerging Markets [Member] | Equity Securities [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 7,650 | [1] | 6,250 | |
Fair Value, Inputs, Level 2 [Member] | Emerging Markets [Member] | Equity Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 72 | [1] | 85 | |
Fair Value, Inputs, Level 2 [Member] | Passive Bond Market [Member] | Debt Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 1,992 | [2] | 1,880 | |
Fair Value, Inputs, Level 2 [Member] | US Core Opportunistic [Member] | Debt Securities [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 23,177 | [2] | 82,639 | |
Fair Value, Inputs, Level 2 [Member] | US Core Opportunistic [Member] | Debt Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 4,435 | [2] | 4,390 | |
Fair Value, Inputs, Level 2 [Member] | US Passive [Member] | Debt Securities [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 12,269 | [2] | 44,762 | |
Fair Value, Inputs, Level 2 [Member] | US Passive [Member] | Debt Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 1 | [2] | 107 | |
Fair Value, Inputs, Level 2 [Member] | Long Duration [Member] | Debt Securities [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 41,451 | [2] | 24,401 | |
Fair Value, Inputs, Level 2 [Member] | Long Duration [Member] | Debt Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 5 | [2] | 55 | |
Fair Value, Inputs, Level 2 [Member] | Long Duration Investment Grade [Member] | Debt Securities [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 52,767 | 32,700 | ||
Fair Value, Inputs, Level 2 [Member] | Long Duration Investment Grade [Member] | Debt Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 6 | [2] | 79 | |
Fair Value, Inputs, Level 2 [Member] | Long Duration Passive [Member] | Debt Securities [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 41,475 | 24,122 | ||
Fair Value, Inputs, Level 2 [Member] | Long Duration Passive [Member] | Debt Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 5 | [2] | 55 | |
Fair Value, Inputs, Level 2 [Member] | Opportunistic [Member] | Debt Securities [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 5,692 | 5,876 | ||
Fair Value, Inputs, Level 2 [Member] | Opportunistic [Member] | Debt Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 240 | [2] | 261 | |
Fair Value, Inputs, Level 2 [Member] | Non US Passive [Member] | Debt Securities [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 24,504 | [2] | 25,150 | |
Fair Value, Inputs, Level 2 [Member] | Non US Passive [Member] | Debt Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 3 | [2] | 57 | |
Fair Value, Inputs, Level 2 [Member] | Active Long Corporate [Member] | Debt Securities [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 133,160 | [2] | 83,147 | |
Fair Value, Inputs, Level 2 [Member] | Active Long Corporate [Member] | Debt Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 16 | [2] | 187 | |
Fair Value, Inputs, Level 2 [Member] | Participating Group Annuity Contract [Member] | Debt Securities [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 7,157 | [2] | 8,271 | |
Fair Value, Inputs, Level 3 [Member] | Pension Plan [Member] | ||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Cash and cash equivalents | 0 | 0 | ||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | 0 | ||
Fair Value, Inputs, Level 3 [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Cash and cash equivalents | 0 | 0 | ||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | 0 | ||
Fair Value, Inputs, Level 3 [Member] | US Small Midcap Growth [Member] | Equity Securities [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | [1] | 0 | |
Fair Value, Inputs, Level 3 [Member] | US Small Midcap Growth [Member] | Equity Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | [1] | 0 | |
Fair Value, Inputs, Level 3 [Member] | US Small Midcap Value [Member] | Equity Securities [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | [1] | 0 | |
Fair Value, Inputs, Level 3 [Member] | US Small Midcap Value [Member] | Equity Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | [1] | 0 | |
Fair Value, Inputs, Level 3 [Member] | S&P 500 Index [Member] | Equity Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | [1] | 0 | |
Fair Value, Inputs, Level 3 [Member] | US Large Cap Growth [Member] | Equity Securities [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | [1] | 0 | |
Fair Value, Inputs, Level 3 [Member] | US Large Cap Growth [Member] | Equity Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | [1] | 0 | |
Fair Value, Inputs, Level 3 [Member] | US Large Cap Value [Member] | Equity Securities [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | [1] | 0 | |
Fair Value, Inputs, Level 3 [Member] | US Large Cap Value [Member] | Equity Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | [1] | 0 | |
Fair Value, Inputs, Level 3 [Member] | US Large Cap Passive [Member] | Equity Securities [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | [1] | 0 | |
Fair Value, Inputs, Level 3 [Member] | US Large Cap Passive [Member] | Equity Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | [1] | 0 | |
Fair Value, Inputs, Level 3 [Member] | Non US Core [Member] | Equity Securities [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | [1] | 0 | |
Fair Value, Inputs, Level 3 [Member] | Non US Core [Member] | Equity Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | [1] | 0 | |
Fair Value, Inputs, Level 3 [Member] | Emerging Markets [Member] | Equity Securities [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | [1] | 0 | |
Fair Value, Inputs, Level 3 [Member] | Emerging Markets [Member] | Equity Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | [1] | 0 | |
Fair Value, Inputs, Level 3 [Member] | Passive Bond Market [Member] | Debt Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | [2] | 0 | |
Fair Value, Inputs, Level 3 [Member] | US Core Opportunistic [Member] | Debt Securities [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | [2] | 0 | |
Fair Value, Inputs, Level 3 [Member] | US Core Opportunistic [Member] | Debt Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | [2] | 0 | |
Fair Value, Inputs, Level 3 [Member] | US Passive [Member] | Debt Securities [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | [2] | 0 | |
Fair Value, Inputs, Level 3 [Member] | US Passive [Member] | Debt Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | [2] | 0 | |
Fair Value, Inputs, Level 3 [Member] | Long Duration [Member] | Debt Securities [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | [2] | 0 | |
Fair Value, Inputs, Level 3 [Member] | Long Duration [Member] | Debt Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | [2] | 0 | |
Fair Value, Inputs, Level 3 [Member] | Long Duration Investment Grade [Member] | Debt Securities [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | [2] | 0 | |
Fair Value, Inputs, Level 3 [Member] | Long Duration Investment Grade [Member] | Debt Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | 0 | ||
Fair Value, Inputs, Level 3 [Member] | Long Duration Passive [Member] | Debt Securities [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | [2] | 0 | |
Fair Value, Inputs, Level 3 [Member] | Long Duration Passive [Member] | Debt Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | 0 | ||
Fair Value, Inputs, Level 3 [Member] | Opportunistic [Member] | Debt Securities [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | [2] | 0 | |
Fair Value, Inputs, Level 3 [Member] | Opportunistic [Member] | Debt Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | 0 | ||
Fair Value, Inputs, Level 3 [Member] | Non US Passive [Member] | Debt Securities [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | 0 | ||
Fair Value, Inputs, Level 3 [Member] | Non US Passive [Member] | Debt Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | 0 | ||
Fair Value, Inputs, Level 3 [Member] | Active Long Corporate [Member] | Debt Securities [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | [2] | 0 | |
Fair Value, Inputs, Level 3 [Member] | Active Long Corporate [Member] | Debt Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | 0 | ||
Fair Value, Inputs, Level 3 [Member] | Participating Group Annuity Contract [Member] | Debt Securities [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 0 | [2] | 0 | |
Estimate of Fair Value Measurement [Member] | Pension Plan [Member] | ||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Cash and cash equivalents | 126 | 168 | ||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 556,051 | 516,352 | ||
Estimate of Fair Value Measurement [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Cash and cash equivalents | 44 | 318 | ||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 18,040 | 18,183 | ||
Estimate of Fair Value Measurement [Member] | US Small Midcap Growth [Member] | Equity Securities [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 16,605 | [1] | 13,764 | [1] |
Estimate of Fair Value Measurement [Member] | US Small Midcap Growth [Member] | Equity Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 752 | [1] | 751 | [1] |
Estimate of Fair Value Measurement [Member] | US Small Midcap Value [Member] | Equity Securities [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 15,264 | [1] | 13,664 | [1] |
Estimate of Fair Value Measurement [Member] | US Small Midcap Value [Member] | Equity Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 721 | [1] | 736 | [1] |
Estimate of Fair Value Measurement [Member] | S&P 500 Index [Member] | Equity Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 8,234 | [1] | 7,321 | [1] |
Estimate of Fair Value Measurement [Member] | US Large Cap Growth [Member] | Equity Securities [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 48,560 | [1] | 42,094 | [1] |
Estimate of Fair Value Measurement [Member] | US Large Cap Growth [Member] | Equity Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 6 | [1] | 98 | [1] |
Estimate of Fair Value Measurement [Member] | US Large Cap Value [Member] | Equity Securities [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 48,785 | [1] | 42,102 | [1] |
Estimate of Fair Value Measurement [Member] | US Large Cap Value [Member] | Equity Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 6 | [1] | 98 | [1] |
Estimate of Fair Value Measurement [Member] | US Large Cap Passive [Member] | Equity Securities [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 54,775 | [1] | 47,227 | [1] |
Estimate of Fair Value Measurement [Member] | US Large Cap Passive [Member] | Equity Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 7 | [1] | 110 | [1] |
Estimate of Fair Value Measurement [Member] | Non US Core [Member] | Equity Securities [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 22,634 | [1] | 20,015 | [1] |
Estimate of Fair Value Measurement [Member] | Non US Core [Member] | Equity Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 1,495 | [1] | 1,595 | [1] |
Estimate of Fair Value Measurement [Member] | Emerging Markets [Member] | Equity Securities [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 7,650 | [1] | 6,250 | |
Estimate of Fair Value Measurement [Member] | Emerging Markets [Member] | Equity Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 72 | [1] | 85 | |
Estimate of Fair Value Measurement [Member] | Passive Bond Market [Member] | Debt Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 1,992 | [2] | 1,880 | [2] |
Estimate of Fair Value Measurement [Member] | US Core Opportunistic [Member] | Debt Securities [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 23,177 | [2] | 82,639 | [2] |
Estimate of Fair Value Measurement [Member] | US Core Opportunistic [Member] | Debt Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 4,435 | [2] | 4,390 | [2] |
Estimate of Fair Value Measurement [Member] | US Passive [Member] | Debt Securities [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 12,269 | [2] | 44,762 | [2] |
Estimate of Fair Value Measurement [Member] | US Passive [Member] | Debt Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 1 | [2] | 107 | [2] |
Estimate of Fair Value Measurement [Member] | Long Duration [Member] | Debt Securities [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 41,451 | [2] | 24,401 | [2] |
Estimate of Fair Value Measurement [Member] | Long Duration [Member] | Debt Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 5 | [2] | 55 | [2] |
Estimate of Fair Value Measurement [Member] | Long Duration Investment Grade [Member] | Debt Securities [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 52,767 | [2] | 32,700 | [2] |
Estimate of Fair Value Measurement [Member] | Long Duration Investment Grade [Member] | Debt Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 6 | [2] | 79 | [2] |
Estimate of Fair Value Measurement [Member] | Long Duration Passive [Member] | Debt Securities [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 41,475 | [2] | 24,122 | [2] |
Estimate of Fair Value Measurement [Member] | Long Duration Passive [Member] | Debt Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 5 | [2] | 55 | [2] |
Estimate of Fair Value Measurement [Member] | Opportunistic [Member] | Debt Securities [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 5,692 | [2] | 5,876 | [2] |
Estimate of Fair Value Measurement [Member] | Opportunistic [Member] | Debt Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 240 | [2] | 261 | [2] |
Estimate of Fair Value Measurement [Member] | Non US Passive [Member] | Debt Securities [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 24,504 | [2] | 25,150 | [2] |
Estimate of Fair Value Measurement [Member] | Non US Passive [Member] | Debt Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 3 | [2] | 57 | [2] |
Estimate of Fair Value Measurement [Member] | Active Long Corporate [Member] | Debt Securities [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 133,160 | [2] | 83,147 | [2] |
Estimate of Fair Value Measurement [Member] | Active Long Corporate [Member] | Debt Securities [Member] | Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 16 | [2] | 187 | [2] |
Estimate of Fair Value Measurement [Member] | Participating Group Annuity Contract [Member] | Debt Securities [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan, Actual Asset Allocations [Abstract] | ||||
Available-for-sale Securities | 7,157 | [2] | 8,271 | [2] |
[1] | This category consists of active and passive managed equity funds, which are invested in multiple strategies to diversify risks and reduce volatility. | |||
[2] | This category consists of investment grade bonds of issuers from diverse industries, debt securities issued by international, national, state and local governments, and asset-backed securities. This includes both active and passive managed funds. |
Employee_Benefit_Plans_Fair_Va
Employee Benefit Plans Fair Value (Details) (USD $) | 12 Months Ended | ||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | ||
Other Postretirement Benefit Plan [Member] | Estimate of Fair Value Measurement [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Cash and cash equivalents | $44 | $318 | |||
Available-for-sale Securities | 18,040 | 18,183 | |||
Other Postretirement Benefit Plan [Member] | Estimate of Fair Value Measurement [Member] | Equity Securities [Member] | US Small Midcap Growth [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 752 | [1] | 751 | [1] | |
Other Postretirement Benefit Plan [Member] | Estimate of Fair Value Measurement [Member] | Equity Securities [Member] | US Small Midcap Value [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 721 | [1] | 736 | [1] | |
Other Postretirement Benefit Plan [Member] | Estimate of Fair Value Measurement [Member] | Equity Securities [Member] | S&P 500 Index [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 8,234 | [1] | 7,321 | [1] | |
Other Postretirement Benefit Plan [Member] | Estimate of Fair Value Measurement [Member] | Equity Securities [Member] | US Large Cap Growth [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 6 | [1] | 98 | [1] | |
Other Postretirement Benefit Plan [Member] | Estimate of Fair Value Measurement [Member] | Equity Securities [Member] | US Large Cap Value [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 6 | [1] | 98 | [1] | |
Other Postretirement Benefit Plan [Member] | Estimate of Fair Value Measurement [Member] | Equity Securities [Member] | US Large Cap Passive [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 7 | [1] | 110 | [1] | |
Other Postretirement Benefit Plan [Member] | Estimate of Fair Value Measurement [Member] | Equity Securities [Member] | Non US Core [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 1,495 | [1] | 1,595 | [1] | |
Other Postretirement Benefit Plan [Member] | Estimate of Fair Value Measurement [Member] | Equity Securities [Member] | Emerging Markets [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 72 | [1] | 85 | ||
Other Postretirement Benefit Plan [Member] | Estimate of Fair Value Measurement [Member] | Debt Securities [Member] | Passive Bond Market [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 1,992 | [2] | 1,880 | [2] | |
Other Postretirement Benefit Plan [Member] | Estimate of Fair Value Measurement [Member] | Debt Securities [Member] | US Core [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 4,435 | [2] | 4,390 | [2] | |
Other Postretirement Benefit Plan [Member] | Estimate of Fair Value Measurement [Member] | Debt Securities [Member] | US Passive [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 1 | [2] | 107 | [2] | |
Other Postretirement Benefit Plan [Member] | Estimate of Fair Value Measurement [Member] | Debt Securities [Member] | Long Duration [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 5 | [2] | 55 | [2] | |
Other Postretirement Benefit Plan [Member] | Estimate of Fair Value Measurement [Member] | Debt Securities [Member] | Long Duration Investment Grade [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 6 | [2] | 79 | [2] | |
Other Postretirement Benefit Plan [Member] | Estimate of Fair Value Measurement [Member] | Debt Securities [Member] | Long Duration Passive [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 5 | [2] | 55 | [2] | |
Other Postretirement Benefit Plan [Member] | Estimate of Fair Value Measurement [Member] | Debt Securities [Member] | Opportunistic [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 240 | [2] | 261 | [2] | |
Other Postretirement Benefit Plan [Member] | Estimate of Fair Value Measurement [Member] | Debt Securities [Member] | Non US Passive [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 3 | [2] | 57 | [2] | |
Other Postretirement Benefit Plan [Member] | Estimate of Fair Value Measurement [Member] | Debt Securities [Member] | Active Long Corporate [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 16 | [2] | 187 | [2] | |
Other Postretirement Benefit Plan [Member] | Fair Value, Inputs, Level 1 [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Cash and cash equivalents | 0 | 0 | |||
Available-for-sale Securities | 0 | 0 | |||
Other Postretirement Benefit Plan [Member] | Fair Value, Inputs, Level 1 [Member] | Equity Securities [Member] | US Small Midcap Growth [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 0 | [1] | 0 | ||
Other Postretirement Benefit Plan [Member] | Fair Value, Inputs, Level 1 [Member] | Equity Securities [Member] | US Small Midcap Value [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 0 | [1] | 0 | ||
Other Postretirement Benefit Plan [Member] | Fair Value, Inputs, Level 1 [Member] | Equity Securities [Member] | S&P 500 Index [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 0 | [1] | 0 | ||
Other Postretirement Benefit Plan [Member] | Fair Value, Inputs, Level 1 [Member] | Equity Securities [Member] | US Large Cap Growth [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 0 | [1] | 0 | ||
Other Postretirement Benefit Plan [Member] | Fair Value, Inputs, Level 1 [Member] | Equity Securities [Member] | US Large Cap Value [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 0 | [1] | 0 | ||
Other Postretirement Benefit Plan [Member] | Fair Value, Inputs, Level 1 [Member] | Equity Securities [Member] | US Large Cap Passive [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 0 | [1] | 0 | ||
Other Postretirement Benefit Plan [Member] | Fair Value, Inputs, Level 1 [Member] | Equity Securities [Member] | Non US Core [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 0 | [1] | 0 | ||
Other Postretirement Benefit Plan [Member] | Fair Value, Inputs, Level 1 [Member] | Equity Securities [Member] | Emerging Markets [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 0 | [1] | 0 | ||
Other Postretirement Benefit Plan [Member] | Fair Value, Inputs, Level 1 [Member] | Debt Securities [Member] | Passive Bond Market [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 0 | [1] | 0 | ||
Other Postretirement Benefit Plan [Member] | Fair Value, Inputs, Level 1 [Member] | Debt Securities [Member] | US Core [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 0 | [2] | 0 | ||
Other Postretirement Benefit Plan [Member] | Fair Value, Inputs, Level 1 [Member] | Debt Securities [Member] | US Passive [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 0 | 0 | |||
Other Postretirement Benefit Plan [Member] | Fair Value, Inputs, Level 1 [Member] | Debt Securities [Member] | Long Duration [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 0 | [2] | 0 | ||
Other Postretirement Benefit Plan [Member] | Fair Value, Inputs, Level 1 [Member] | Debt Securities [Member] | Long Duration Investment Grade [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 0 | [2] | 0 | ||
Other Postretirement Benefit Plan [Member] | Fair Value, Inputs, Level 1 [Member] | Debt Securities [Member] | Long Duration Passive [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 0 | 0 | |||
Other Postretirement Benefit Plan [Member] | Fair Value, Inputs, Level 1 [Member] | Debt Securities [Member] | Opportunistic [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 0 | 0 | |||
Other Postretirement Benefit Plan [Member] | Fair Value, Inputs, Level 1 [Member] | Debt Securities [Member] | Non US Passive [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 0 | [2] | 0 | ||
Other Postretirement Benefit Plan [Member] | Fair Value, Inputs, Level 1 [Member] | Debt Securities [Member] | Active Long Corporate [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 0 | 0 | |||
Other Postretirement Benefit Plan [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Cash and cash equivalents | 44 | 318 | |||
Available-for-sale Securities | 18,040 | 18,183 | |||
Other Postretirement Benefit Plan [Member] | Fair Value, Inputs, Level 2 [Member] | Equity Securities [Member] | US Small Midcap Growth [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 752 | [1] | 751 | ||
Other Postretirement Benefit Plan [Member] | Fair Value, Inputs, Level 2 [Member] | Equity Securities [Member] | US Small Midcap Value [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 721 | [1] | 736 | ||
Other Postretirement Benefit Plan [Member] | Fair Value, Inputs, Level 2 [Member] | Equity Securities [Member] | S&P 500 Index [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 8,234 | [1] | 7,321 | ||
Other Postretirement Benefit Plan [Member] | Fair Value, Inputs, Level 2 [Member] | Equity Securities [Member] | US Large Cap Growth [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 6 | [1] | 98 | ||
Other Postretirement Benefit Plan [Member] | Fair Value, Inputs, Level 2 [Member] | Equity Securities [Member] | US Large Cap Value [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 6 | [1] | 98 | ||
Other Postretirement Benefit Plan [Member] | Fair Value, Inputs, Level 2 [Member] | Equity Securities [Member] | US Large Cap Passive [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 7 | [1] | 110 | ||
Other Postretirement Benefit Plan [Member] | Fair Value, Inputs, Level 2 [Member] | Equity Securities [Member] | Non US Core [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 1,495 | [1] | 1,595 | ||
Other Postretirement Benefit Plan [Member] | Fair Value, Inputs, Level 2 [Member] | Equity Securities [Member] | Emerging Markets [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 72 | [1] | 85 | ||
Other Postretirement Benefit Plan [Member] | Fair Value, Inputs, Level 2 [Member] | Debt Securities [Member] | Passive Bond Market [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 1,992 | [2] | 1,880 | ||
Other Postretirement Benefit Plan [Member] | Fair Value, Inputs, Level 2 [Member] | Debt Securities [Member] | US Core [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 4,435 | [2] | 4,390 | ||
Other Postretirement Benefit Plan [Member] | Fair Value, Inputs, Level 2 [Member] | Debt Securities [Member] | US Passive [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 1 | [2] | 107 | ||
Other Postretirement Benefit Plan [Member] | Fair Value, Inputs, Level 2 [Member] | Debt Securities [Member] | Long Duration [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 5 | [2] | 55 | ||
Other Postretirement Benefit Plan [Member] | Fair Value, Inputs, Level 2 [Member] | Debt Securities [Member] | Long Duration Investment Grade [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 6 | [2] | 79 | ||
Other Postretirement Benefit Plan [Member] | Fair Value, Inputs, Level 2 [Member] | Debt Securities [Member] | Long Duration Passive [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 5 | [2] | 55 | ||
Other Postretirement Benefit Plan [Member] | Fair Value, Inputs, Level 2 [Member] | Debt Securities [Member] | Opportunistic [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 240 | [2] | 261 | ||
Other Postretirement Benefit Plan [Member] | Fair Value, Inputs, Level 2 [Member] | Debt Securities [Member] | Non US Passive [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 3 | [2] | 57 | ||
Other Postretirement Benefit Plan [Member] | Fair Value, Inputs, Level 2 [Member] | Debt Securities [Member] | Active Long Corporate [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 16 | [2] | 187 | ||
Other Postretirement Benefit Plan [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Cash and cash equivalents | 0 | 0 | |||
Available-for-sale Securities | 0 | 0 | |||
Other Postretirement Benefit Plan [Member] | Fair Value, Inputs, Level 3 [Member] | Equity Securities [Member] | US Small Midcap Growth [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 0 | [1] | 0 | ||
Other Postretirement Benefit Plan [Member] | Fair Value, Inputs, Level 3 [Member] | Equity Securities [Member] | US Small Midcap Value [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 0 | [1] | 0 | ||
Other Postretirement Benefit Plan [Member] | Fair Value, Inputs, Level 3 [Member] | Equity Securities [Member] | S&P 500 Index [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 0 | [1] | 0 | ||
Other Postretirement Benefit Plan [Member] | Fair Value, Inputs, Level 3 [Member] | Equity Securities [Member] | US Large Cap Growth [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 0 | [1] | 0 | ||
Other Postretirement Benefit Plan [Member] | Fair Value, Inputs, Level 3 [Member] | Equity Securities [Member] | US Large Cap Value [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 0 | [1] | 0 | ||
Other Postretirement Benefit Plan [Member] | Fair Value, Inputs, Level 3 [Member] | Equity Securities [Member] | US Large Cap Passive [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 0 | [1] | 0 | ||
Other Postretirement Benefit Plan [Member] | Fair Value, Inputs, Level 3 [Member] | Equity Securities [Member] | Non US Core [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 0 | [1] | 0 | ||
Other Postretirement Benefit Plan [Member] | Fair Value, Inputs, Level 3 [Member] | Equity Securities [Member] | Emerging Markets [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 0 | [1] | 0 | ||
Other Postretirement Benefit Plan [Member] | Fair Value, Inputs, Level 3 [Member] | Debt Securities [Member] | Passive Bond Market [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 0 | [2] | 0 | ||
Other Postretirement Benefit Plan [Member] | Fair Value, Inputs, Level 3 [Member] | Debt Securities [Member] | US Core [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 0 | [2] | 0 | ||
Other Postretirement Benefit Plan [Member] | Fair Value, Inputs, Level 3 [Member] | Debt Securities [Member] | US Passive [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 0 | [2] | 0 | ||
Other Postretirement Benefit Plan [Member] | Fair Value, Inputs, Level 3 [Member] | Debt Securities [Member] | Long Duration [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 0 | [2] | 0 | ||
Other Postretirement Benefit Plan [Member] | Fair Value, Inputs, Level 3 [Member] | Debt Securities [Member] | Long Duration Investment Grade [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 0 | 0 | |||
Other Postretirement Benefit Plan [Member] | Fair Value, Inputs, Level 3 [Member] | Debt Securities [Member] | Long Duration Passive [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 0 | 0 | |||
Other Postretirement Benefit Plan [Member] | Fair Value, Inputs, Level 3 [Member] | Debt Securities [Member] | Opportunistic [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 0 | 0 | |||
Other Postretirement Benefit Plan [Member] | Fair Value, Inputs, Level 3 [Member] | Debt Securities [Member] | Non US Passive [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 0 | 0 | |||
Other Postretirement Benefit Plan [Member] | Fair Value, Inputs, Level 3 [Member] | Debt Securities [Member] | Active Long Corporate [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 0 | 0 | |||
Defined Contribution Pension [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Employer contributions | 8,700 | 7,800 | 7,200 | ||
Defined Contribution Pension [Member] | Estimate of Fair Value Measurement [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Cash and cash equivalents | 126 | 168 | |||
Available-for-sale Securities | 556,051 | 516,352 | |||
Defined Contribution Pension [Member] | Estimate of Fair Value Measurement [Member] | Equity Securities [Member] | US Small Midcap Growth [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 16,605 | [1] | 13,764 | [1] | |
Defined Contribution Pension [Member] | Estimate of Fair Value Measurement [Member] | Equity Securities [Member] | US Small Midcap Value [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 15,264 | [1] | 13,664 | [1] | |
Defined Contribution Pension [Member] | Estimate of Fair Value Measurement [Member] | Equity Securities [Member] | US Large Cap Growth [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 48,560 | [1] | 42,094 | [1] | |
Defined Contribution Pension [Member] | Estimate of Fair Value Measurement [Member] | Equity Securities [Member] | US Large Cap Value [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 48,785 | [1] | 42,102 | [1] | |
Defined Contribution Pension [Member] | Estimate of Fair Value Measurement [Member] | Equity Securities [Member] | US Large Cap Passive [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 54,775 | [1] | 47,227 | [1] | |
Defined Contribution Pension [Member] | Estimate of Fair Value Measurement [Member] | Equity Securities [Member] | Non US Core [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 22,634 | [1] | 20,015 | [1] | |
Defined Contribution Pension [Member] | Estimate of Fair Value Measurement [Member] | Equity Securities [Member] | Emerging Markets [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 7,650 | [1] | 6,250 | ||
Defined Contribution Pension [Member] | Estimate of Fair Value Measurement [Member] | Debt Securities [Member] | US Core [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 23,177 | [2] | 82,639 | [2] | |
Defined Contribution Pension [Member] | Estimate of Fair Value Measurement [Member] | Debt Securities [Member] | US Passive [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 12,269 | [2] | 44,762 | [2] | |
Defined Contribution Pension [Member] | Estimate of Fair Value Measurement [Member] | Debt Securities [Member] | Long Duration [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 41,451 | [2] | 24,401 | [2] | |
Defined Contribution Pension [Member] | Estimate of Fair Value Measurement [Member] | Debt Securities [Member] | Long Duration Investment Grade [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 52,767 | [2] | 32,700 | [2] | |
Defined Contribution Pension [Member] | Estimate of Fair Value Measurement [Member] | Debt Securities [Member] | Long Duration Passive [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 41,475 | [2] | 24,122 | [2] | |
Defined Contribution Pension [Member] | Estimate of Fair Value Measurement [Member] | Debt Securities [Member] | Opportunistic [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 5,692 | [2] | 5,876 | [2] | |
Defined Contribution Pension [Member] | Estimate of Fair Value Measurement [Member] | Debt Securities [Member] | Non US Passive [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 24,504 | [2] | 25,150 | [2] | |
Defined Contribution Pension [Member] | Estimate of Fair Value Measurement [Member] | Debt Securities [Member] | Active Long Corporate [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 133,160 | [2] | 83,147 | [2] | |
Defined Contribution Pension [Member] | Estimate of Fair Value Measurement [Member] | Debt Securities [Member] | Participating Group Annuity Contract [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 7,157 | [2] | 8,271 | [2] | |
Defined Contribution Pension [Member] | Fair Value, Inputs, Level 1 [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Cash and cash equivalents | 0 | 0 | |||
Available-for-sale Securities | 0 | 0 | |||
Defined Contribution Pension [Member] | Fair Value, Inputs, Level 1 [Member] | Equity Securities [Member] | US Small Midcap Growth [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 0 | [1] | 0 | ||
Defined Contribution Pension [Member] | Fair Value, Inputs, Level 1 [Member] | Equity Securities [Member] | US Small Midcap Value [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 0 | [1] | 0 | ||
Defined Contribution Pension [Member] | Fair Value, Inputs, Level 1 [Member] | Equity Securities [Member] | US Large Cap Growth [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 0 | [1] | 0 | ||
Defined Contribution Pension [Member] | Fair Value, Inputs, Level 1 [Member] | Equity Securities [Member] | US Large Cap Value [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 0 | [1] | 0 | ||
Defined Contribution Pension [Member] | Fair Value, Inputs, Level 1 [Member] | Equity Securities [Member] | US Large Cap Passive [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 0 | [1] | 0 | ||
Defined Contribution Pension [Member] | Fair Value, Inputs, Level 1 [Member] | Equity Securities [Member] | Non US Core [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 0 | [1] | 0 | ||
Defined Contribution Pension [Member] | Fair Value, Inputs, Level 1 [Member] | Equity Securities [Member] | Emerging Markets [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 0 | [1] | 0 | ||
Defined Contribution Pension [Member] | Fair Value, Inputs, Level 1 [Member] | Debt Securities [Member] | US Core [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 0 | [2] | 0 | ||
Defined Contribution Pension [Member] | Fair Value, Inputs, Level 1 [Member] | Debt Securities [Member] | US Passive [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 0 | [2] | 0 | ||
Defined Contribution Pension [Member] | Fair Value, Inputs, Level 1 [Member] | Debt Securities [Member] | Long Duration [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 0 | [2] | 0 | ||
Defined Contribution Pension [Member] | Fair Value, Inputs, Level 1 [Member] | Debt Securities [Member] | Long Duration Investment Grade [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 0 | 0 | |||
Defined Contribution Pension [Member] | Fair Value, Inputs, Level 1 [Member] | Debt Securities [Member] | Long Duration Passive [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 0 | [2] | 0 | ||
Defined Contribution Pension [Member] | Fair Value, Inputs, Level 1 [Member] | Debt Securities [Member] | Opportunistic [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 0 | [2] | 0 | ||
Defined Contribution Pension [Member] | Fair Value, Inputs, Level 1 [Member] | Debt Securities [Member] | Non US Passive [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 0 | [2] | 0 | ||
Defined Contribution Pension [Member] | Fair Value, Inputs, Level 1 [Member] | Debt Securities [Member] | Active Long Corporate [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 0 | [2] | 0 | ||
Defined Contribution Pension [Member] | Fair Value, Inputs, Level 1 [Member] | Debt Securities [Member] | Participating Group Annuity Contract [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 0 | [2] | 0 | ||
Defined Contribution Pension [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Cash and cash equivalents | 126 | 168 | |||
Available-for-sale Securities | 556,051 | 516,352 | |||
Defined Contribution Pension [Member] | Fair Value, Inputs, Level 2 [Member] | Equity Securities [Member] | US Small Midcap Growth [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 16,605 | [1] | 13,764 | ||
Defined Contribution Pension [Member] | Fair Value, Inputs, Level 2 [Member] | Equity Securities [Member] | US Small Midcap Value [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 15,264 | [1] | 13,664 | ||
Defined Contribution Pension [Member] | Fair Value, Inputs, Level 2 [Member] | Equity Securities [Member] | US Large Cap Growth [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 48,560 | [1] | 42,094 | ||
Defined Contribution Pension [Member] | Fair Value, Inputs, Level 2 [Member] | Equity Securities [Member] | US Large Cap Value [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 48,785 | [1] | 42,102 | ||
Defined Contribution Pension [Member] | Fair Value, Inputs, Level 2 [Member] | Equity Securities [Member] | US Large Cap Passive [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 54,775 | [1] | 47,227 | ||
Defined Contribution Pension [Member] | Fair Value, Inputs, Level 2 [Member] | Equity Securities [Member] | Non US Core [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 22,634 | [1] | 20,015 | ||
Defined Contribution Pension [Member] | Fair Value, Inputs, Level 2 [Member] | Equity Securities [Member] | Emerging Markets [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 7,650 | [1] | 6,250 | ||
Defined Contribution Pension [Member] | Fair Value, Inputs, Level 2 [Member] | Debt Securities [Member] | US Core [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 23,177 | [2] | 82,639 | ||
Defined Contribution Pension [Member] | Fair Value, Inputs, Level 2 [Member] | Debt Securities [Member] | US Passive [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 12,269 | [2] | 44,762 | ||
Defined Contribution Pension [Member] | Fair Value, Inputs, Level 2 [Member] | Debt Securities [Member] | Long Duration [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 41,451 | [2] | 24,401 | ||
Defined Contribution Pension [Member] | Fair Value, Inputs, Level 2 [Member] | Debt Securities [Member] | Long Duration Investment Grade [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 52,767 | 32,700 | |||
Defined Contribution Pension [Member] | Fair Value, Inputs, Level 2 [Member] | Debt Securities [Member] | Long Duration Passive [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 41,475 | 24,122 | |||
Defined Contribution Pension [Member] | Fair Value, Inputs, Level 2 [Member] | Debt Securities [Member] | Opportunistic [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 5,692 | 5,876 | |||
Defined Contribution Pension [Member] | Fair Value, Inputs, Level 2 [Member] | Debt Securities [Member] | Non US Passive [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 24,504 | [2] | 25,150 | ||
Defined Contribution Pension [Member] | Fair Value, Inputs, Level 2 [Member] | Debt Securities [Member] | Active Long Corporate [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 133,160 | [2] | 83,147 | ||
Defined Contribution Pension [Member] | Fair Value, Inputs, Level 2 [Member] | Debt Securities [Member] | Participating Group Annuity Contract [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 7,157 | [2] | 8,271 | ||
Defined Contribution Pension [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Cash and cash equivalents | 0 | 0 | |||
Available-for-sale Securities | 0 | 0 | |||
Defined Contribution Pension [Member] | Fair Value, Inputs, Level 3 [Member] | Equity Securities [Member] | US Small Midcap Growth [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 0 | [1] | 0 | ||
Defined Contribution Pension [Member] | Fair Value, Inputs, Level 3 [Member] | Equity Securities [Member] | US Small Midcap Value [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 0 | [1] | 0 | ||
Defined Contribution Pension [Member] | Fair Value, Inputs, Level 3 [Member] | Equity Securities [Member] | US Large Cap Growth [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 0 | [1] | 0 | ||
Defined Contribution Pension [Member] | Fair Value, Inputs, Level 3 [Member] | Equity Securities [Member] | US Large Cap Value [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 0 | [1] | 0 | ||
Defined Contribution Pension [Member] | Fair Value, Inputs, Level 3 [Member] | Equity Securities [Member] | US Large Cap Passive [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 0 | [1] | 0 | ||
Defined Contribution Pension [Member] | Fair Value, Inputs, Level 3 [Member] | Equity Securities [Member] | Non US Core [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 0 | [1] | 0 | ||
Defined Contribution Pension [Member] | Fair Value, Inputs, Level 3 [Member] | Equity Securities [Member] | Emerging Markets [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 0 | [1] | 0 | ||
Defined Contribution Pension [Member] | Fair Value, Inputs, Level 3 [Member] | Debt Securities [Member] | US Core [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 0 | [2] | 0 | ||
Defined Contribution Pension [Member] | Fair Value, Inputs, Level 3 [Member] | Debt Securities [Member] | US Passive [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 0 | [2] | 0 | ||
Defined Contribution Pension [Member] | Fair Value, Inputs, Level 3 [Member] | Debt Securities [Member] | Long Duration [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 0 | [2] | 0 | ||
Defined Contribution Pension [Member] | Fair Value, Inputs, Level 3 [Member] | Debt Securities [Member] | Long Duration Investment Grade [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 0 | [2] | 0 | ||
Defined Contribution Pension [Member] | Fair Value, Inputs, Level 3 [Member] | Debt Securities [Member] | Long Duration Passive [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 0 | [2] | 0 | ||
Defined Contribution Pension [Member] | Fair Value, Inputs, Level 3 [Member] | Debt Securities [Member] | Opportunistic [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 0 | [2] | 0 | ||
Defined Contribution Pension [Member] | Fair Value, Inputs, Level 3 [Member] | Debt Securities [Member] | Non US Passive [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 0 | 0 | |||
Defined Contribution Pension [Member] | Fair Value, Inputs, Level 3 [Member] | Debt Securities [Member] | Active Long Corporate [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | 0 | [2] | 0 | ||
Defined Contribution Pension [Member] | Fair Value, Inputs, Level 3 [Member] | Debt Securities [Member] | Participating Group Annuity Contract [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Available-for-sale Securities | $0 | [2] | $0 | ||
[1] | This category consists of active and passive managed equity funds, which are invested in multiple strategies to diversify risks and reduce volatility. | ||||
[2] | This category consists of investment grade bonds of issuers from diverse industries, debt securities issued by international, national, state and local governments, and asset-backed securities. This includes both active and passive managed funds. |
Employee_Benefit_Plans_Cash_Fl
Employee Benefit Plans Cash Flows (Details) (USD $) | 12 Months Ended | |||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2015 | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Pension contributions | $10,200,000 | $11,700,000 | $11,700,000 | |
MONTANA | Pension Plan [Member] | ||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Pension contributions | 9,000,000 | 10,500,000 | 10,500,000 | |
SOUTH DAKOTA | Pension Plan [Member] | ||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Pension contributions | 1,200,000 | 1,200,000 | 1,200,000 | |
Scenario, Forecast [Member] | Pension Plan [Member] | ||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Expected contributions to pension plans | $10,200,000 |
Employee_Benefit_Plans_Estimat
Employee Benefit Plans Estimated Payments (Details) (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Pension Plan [Member] | |
Estimated Future Benefit Payments | |
2015 | $27,652 |
2016 | 29,905 |
2017 | 31,172 |
2018 | 33,142 |
2019 | 34,660 |
2020-2024 | 194,065 |
Other Pension Plan, Postretirement or Supplemental Plans [Member] | |
Estimated Future Benefit Payments | |
2015 | 3,516 |
2016 | 3,516 |
2017 | 3,387 |
2018 | 3,282 |
2019 | 3,026 |
2020-2024 | $11,923 |
Employee_Benefit_Plans_Narrati
Employee Benefit Plans Narrative (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Defined benefit plan percentage threshold of differences between actuarial assumptions and actual plan results that are greater than projected benefit or market value | 10.00% | ||
Pension Plan [Member] | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Matching employer contributions | $8,700 | $7,800 | $7,200 |
StockBased_Compensation_Detail
Stock-Based Compensation (Details) (USD $) | 12 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Compensation expense | $3.10 | $2.40 | $2.80 |
Compensation expense tax benefit | 0.1 | 1.5 | 0.4 |
Compensation expense not yet recognized for nonvested awards | 3.6 | ||
Nonvested awards, total compensation cost not yet recognized, period for recognition | 1 year 11 months 13 days | ||
Shares vested in period, total fair value | 2.1 | 2.2 | 2 |
Share-based Compensation, Significant Assumptions | |||
Risk-free interest rate | 0.67% | 0.44% | |
Expected life, in years | 3 years | 3 years | |
Expected volatility, minimum | 15.50% | 16.30% | |
Expected volatility, maximum | 23.30% | 25.40% | |
Dividend yield | 3.30% | 3.90% | |
Performance Shares [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Performance and vesting period | 3 years | ||
Performance Shares [Member] | Minimum | |||
Share-based Compensation, Significant Assumptions | |||
Percent of shares issued based on company performance | 0.00% | ||
Performance Shares [Member] | Maximum | |||
Share-based Compensation, Significant Assumptions | |||
Percent of shares issued based on company performance | 200.00% | ||
Stock Compensation Plan [Member] | Minimum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Performance and vesting period | 1 year | ||
Stock Compensation Plan [Member] | Maximum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Performance and vesting period | 5 years | ||
Executive retirement/retention program [Member] | Restricted Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Performance and vesting period | 5 years | ||
Deferred Stock Unit [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Maximum percentage of compensation to be deferred | 100.00% | ||
Maximum number of years for distribution payments | 10 | ||
Deferred stock units issued during period, shares | 26,460 | 33,837 | 31,801 |
Deferred stock units total compensation expense | $2.30 | $3.60 | $0.90 |
Common Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of shares authorized | 600,000 | ||
Number of shares available for grant | 1,124,798 |
StockBased_Compensation_Nonves
Stock-Based Compensation Nonvested (Details) (USD $) | 12 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2014 |
Performance Shares [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward] | |
Beginning nonvested grants (shares) | 173,646 |
Granted (shares) | 96,193 |
Vested (shares) | -84,652 |
Forfeited (shares) | -4,615 |
Remaining nonvested grants (shares) | 180,572 |
Beginning nonvested (weighted-average grant date fair value) | $29.14 |
Granted (weighted-average grant date fair value) | $38.33 |
Vested (weighted-average grant date fair value) | $25.19 |
Forfeited (weighted-average grant date fair value) | ($33.55) |
Remaining nonvested (weighted-average grant date fair value) | $35.77 |
Performance and vesting period | 3 years |
Executive retirement/retention program [Member] | Restricted Stock [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward] | |
Beginning nonvested grants (shares) | 26,628 |
Granted (shares) | 15,092 |
Vested (shares) | 0 |
Forfeited (shares) | 0 |
Remaining nonvested grants (shares) | 41,720 |
Beginning nonvested (weighted-average grant date fair value) | $30.24 |
Granted (weighted-average grant date fair value) | $43.79 |
Vested (weighted-average grant date fair value) | $0 |
Forfeited (weighted-average grant date fair value) | $0 |
Remaining nonvested (weighted-average grant date fair value) | $35.14 |
Performance and vesting period | 5 years |
Common_Stock_Common_Stock_Deta
Common Stock Common Stock (Details) (USD $) | 12 Months Ended | 1 Months Ended | 3 Months Ended | 24 Months Ended | |||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Nov. 30, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Jun. 30, 2012 | |
Class of Stock [Line Items] | |||||||
Combined common and preferred stock, shares authorized | 250,000,000 | ||||||
Common stock, shares authorized | 200,000,000 | 200,000,000 | |||||
Common stock, par or stated value per share | $0.01 | $0.01 | |||||
Preferred stock, shares authorized | 50,000,000 | 50,000,000 | |||||
Preferred stock, par or stated value per share | $0.01 | $0.01 | |||||
Common stock reserved for incentive plan awards | 2,865,957 | ||||||
Common stock aggregate gross sales price, maximum | $400,000,000 | ||||||
Net proceeds from sale of stock | 399,505,000 | 57,276,000 | 28,966,000 | ||||
Shares paid for tax withholding | 23,630 | 34,552 | |||||
Hydro-electric Assets [Member] | |||||||
Class of Stock [Line Items] | |||||||
Stock issued during period, shares | 7,766,990 | ||||||
Shares issued, price per share | $51.50 | ||||||
Net proceeds from sale of stock | 386,000,000 | ||||||
Equity Distribution Agreement [Member] | |||||||
Class of Stock [Line Items] | |||||||
Common stock aggregate gross sales price, maximum | 100,000,000 | ||||||
Net proceeds from sale of stock | 13,400,000 | 98,700,000 | |||||
Sales commission and other fees | $147,000 | ||||||
Number of shares issued during the period under the Equity Distribution Agreement | 295,979 | 2,492,889 | |||||
Common stock average share price | $45.65 | $40.11 |
Earnings_Per_Share_Details
Earnings Per Share (Details) | 3 Months Ended | 12 Months Ended | ||||||||||
Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | ||
Basic computation | 43,451,000 | 39,141,000 | 39,137,000 | 38,856,000 | 38,626,000 | 38,459,000 | 38,092,000 | 37,384,000 | 40,156,177 | 38,144,852 | 36,847,427 | |
Restricted stock and performance share awards (1) | 275,774 | [1] | 82,223 | |||||||||
Diluted computation | 40,431,951 | 38,227,075 | ||||||||||
[1] | Performance share awards are included in diluted weighted average number of shares outstanding based upon what would be issued if the end of the most recent reporting period was the end of the term of the award. |
Commitments_and_Contingencies_1
Commitments and Contingencies Qualifying Facilities Liability (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Ending QF liability | $136,893,000 | $136,448,000 |
Qualifying Facility Contracts [Member] | ||
Beginning QF liability | 136,448,000 | 136,652,000 |
Unrecovered amount | -10,128,000 | -10,647,000 |
Interest expense | 10,573,000 | 10,443,000 |
Ending QF liability | 136,893,000 | 136,448,000 |
Qualifying Facility Contracts [Member] | Gross Obligation [Member] | ||
Recorded Unconditional Purchase Obligation, Fiscal Year Maturity Schedule [Abstract] | ||
2015 | 69,606,000 | |
2016 | 71,598,000 | |
2017 | 73,622,000 | |
2018 | 75,688,000 | |
2019 | 77,791,000 | |
Thereafter | 646,783,000 | |
Contractual obligation related to QF's | 1,015,088,000 | |
Qualifying Facility Contracts [Member] | Recoverable Amounts [Member] | ||
Recorded Unconditional Purchase Obligation, Fiscal Year Maturity Schedule [Abstract] | ||
2015 | 56,598,000 | |
2016 | 57,188,000 | |
2017 | 57,789,000 | |
2018 | 58,401,000 | |
2019 | 59,020,000 | |
Thereafter | 508,195,000 | |
Contractual obligation related to QF's | 797,191,000 | |
Qualifying Facility Contracts [Member] | Net Amount [Member] | ||
Recorded Unconditional Purchase Obligation, Fiscal Year Maturity Schedule [Abstract] | ||
2015 | 13,008,000 | |
2016 | 14,410,000 | |
2017 | 15,833,000 | |
2018 | 17,287,000 | |
2019 | 18,771,000 | |
Thereafter | 138,588,000 | |
Contractual obligation related to QF's | 217,897,000 | |
Qualifying Facility Contracts [Member] | Year 2029 [Member] | Gross Obligation [Member] | ||
Recorded unconditional purchase obligation portion recoverable through rates | 800,000,000 | |
Recorded Unconditional Purchase Obligation, Fiscal Year Maturity Schedule [Abstract] | ||
Contractual obligation related to QF's | 1,000,000,000 | |
Qualifying Facility Contracts [Member] | Minimum [Member] | Year 2029 [Member] | ||
Price per MWH of energy required to be purchased per QF agreement | 74 | |
Qualifying Facility Contracts [Member] | Maximum [Member] | Year 2029 [Member] | ||
Price per MWH of energy required to be purchased per QF agreement | $136 |
Commitments_and_Contingencies_2
Commitments and Contingencies Long Term Supply and Capacity Purchase Obligations (Details) (Purchased Coal and Natural Gas Supply And Natural Gas Transportation Contracts [Member], USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Long-term Purchase Commitment [Line Items] | |||
Long Term Purchase Committments Costs Incurred | $402,300,000 | $379,400,000 | $340,800,000 |
Recorded Unconditional Purchase Obligation, Fiscal Year Maturity Schedule [Abstract] | |||
2015 | 206,500,000 | ||
2016 | 161,100,000 | ||
2017 | 134,900,000 | ||
2018 | 107,300,000 | ||
2019 | 103,500,000 | ||
Thereafter | $922,700,000 | ||
Minimum [Member] | |||
Long-term Purchase Commitment [Line Items] | |||
Long Term Purchase Commitments Term In Years | 1 year | ||
Maximum [Member] | |||
Long-term Purchase Commitment [Line Items] | |||
Long Term Purchase Commitments Term In Years | 27 |
Commitments_and_Contingencies_3
Commitments and Contingencies Environmental Liabilities (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Jul. 01, 2018 |
Other Commitment | $26 | ||
Colstrip Unit 4 [Member] | |||
Jointly owned utility plant, proportionate ownership share | 30.00% | 30.00% | |
Neal 4 Generating Facility [Member] | |||
Jointly owned utility plant, proportionate ownership share | 8.70% | 8.70% | |
Coyote Generating Facility [Member] | |||
Environmental obligation, estimated capital expenditures | 9 | ||
Jointly owned utility plant, proportionate ownership share | 10.00% | 10.00% | |
Big Stone Generating Facility [Member] | |||
Environmental obligation, estimated capital expenditures | 384 | ||
Jointly owned utility plant, proportionate ownership share | 23.40% | 23.40% | |
Capitalized costs, jointly owned utility plant | 71.8 | ||
Environmental remediation obligations [Member] | |||
Environmental remediation obligation, minimum | 26.4 | ||
Environmental remediation obligation, maximum | 35 | ||
Accrual for environmental loss contingencies | 29.7 | ||
Manufactured Gas Plants [Member] | Combined Manufacturing Sites [Member] | |||
Accrual for environmental loss contingencies | 22.4 | ||
Manufactured Gas Plants [Member] | Aberdeen South Dakota Site [Member] | |||
Accrual for environmental loss contingencies | 10.8 | ||
Environmental remediation obligation, to be incurred during next 5 years | $8 | ||
Number of years for environmental remediation obligation to be incurred | 5 years | ||
Scenario, Forecast [Member] | Coyote Generating Facility [Member] | |||
NOx emissions per million Btu | 0.5 |
Commitments_and_Contingencies_4
Commitments and Contingencies Legal Proceedings (Details) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2014 |
Commitments and Contingencies Disclosure [Abstract] | |
Damages sought,value | $48.50 |
Retention amount | $2 |
Segment_and_Related_Informatio2
Segment and Related Information (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Segment Reporting Information [Line Items] | |||||||||||
Operating revenues | $312,947 | $251,912 | $270,281 | $369,723 | $319,090 | $262,248 | $260,161 | $313,020 | $1,204,863 | $1,154,519 | $1,070,342 |
Cost of sales | 482,591 | 479,546 | 395,434 | ||||||||
Gross margin | 722,272 | 674,973 | 674,908 | ||||||||
Operating, general and administrative | 305,886 | 285,569 | 269,966 | ||||||||
MSTI impairment | 0 | 0 | 24,039 | ||||||||
Property and other taxes | 114,592 | 105,540 | 97,674 | ||||||||
Depreciation and depletion | 123,776 | 112,831 | 106,044 | ||||||||
Operating Income | 50,584 | 30,987 | 25,097 | 71,350 | 49,962 | 31,401 | 32,660 | 57,010 | 178,018 | 171,033 | 177,185 |
Interest expense | -77,802 | -70,486 | -65,062 | ||||||||
Other income | 10,198 | 7,737 | 4,372 | ||||||||
Income tax (expense) benefit | 10,272 | -14,301 | -18,089 | ||||||||
Net Income | 37,169 | 30,191 | 7,746 | 45,580 | 26,093 | 15,647 | 14,341 | 37,902 | 120,686 | 93,983 | 98,406 |
Total assets | 4,973,943 | 3,715,260 | 4,973,943 | 3,715,260 | 3,485,533 | ||||||
Capital expenditures | 270,384 | 230,454 | 219,234 | ||||||||
Electric | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating revenues | 877,967 | 865,239 | 805,554 | ||||||||
Cost of sales | 348,640 | 358,688 | 277,826 | ||||||||
Gross margin | 529,327 | 506,551 | 527,728 | ||||||||
Operating, general and administrative | 200,186 | 195,100 | 187,599 | ||||||||
MSTI impairment | 24,039 | ||||||||||
Property and other taxes | 84,759 | 78,536 | 72,755 | ||||||||
Depreciation and depletion | 94,813 | 89,728 | 86,559 | ||||||||
Operating Income | 149,569 | 143,187 | 156,776 | ||||||||
Interest expense | -60,424 | -57,920 | -55,118 | ||||||||
Other income | 4,758 | 4,061 | 2,630 | ||||||||
Income tax (expense) benefit | -1,490 | -13,905 | -22,298 | ||||||||
Net Income | 92,413 | 75,423 | 81,990 | ||||||||
Total assets | 3,442,659 | 2,583,554 | 3,442,659 | 2,583,554 | 2,442,602 | ||||||
Capital expenditures | 233,538 | 198,032 | 178,325 | ||||||||
Gas | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating revenues | 326,896 | 287,605 | 263,394 | ||||||||
Cost of sales | 133,951 | 120,858 | 117,608 | ||||||||
Gross margin | 192,945 | 166,747 | 145,786 | ||||||||
Operating, general and administrative | 91,437 | 78,822 | 75,971 | ||||||||
MSTI impairment | 0 | ||||||||||
Property and other taxes | 29,821 | 26,993 | 24,907 | ||||||||
Depreciation and depletion | 28,930 | 23,070 | 19,452 | ||||||||
Operating Income | 42,757 | 37,862 | 25,456 | ||||||||
Interest expense | -10,618 | -9,993 | -9,063 | ||||||||
Other income | 1,324 | 1,239 | 1,633 | ||||||||
Income tax (expense) benefit | -7,463 | -4,134 | -692 | ||||||||
Net Income | 26,000 | 24,974 | 17,334 | ||||||||
Total assets | 1,522,902 | 1,117,861 | 1,522,902 | 1,117,861 | 1,032,259 | ||||||
Capital expenditures | 36,846 | 32,422 | 40,909 | ||||||||
Other Segments [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating revenues | 0 | 1,675 | 1,394 | ||||||||
Cost of sales | 0 | 0 | 0 | ||||||||
Gross margin | 0 | 1,675 | 1,394 | ||||||||
Operating, general and administrative | 14,263 | 11,647 | 6,396 | ||||||||
MSTI impairment | 0 | ||||||||||
Property and other taxes | 12 | 11 | 12 | ||||||||
Depreciation and depletion | 33 | 33 | 33 | ||||||||
Operating Income | -14,308 | -10,016 | -5,047 | ||||||||
Interest expense | -6,760 | -2,573 | -881 | ||||||||
Other income | 4,116 | 2,437 | 109 | ||||||||
Income tax (expense) benefit | 19,225 | 3,738 | 4,901 | ||||||||
Net Income | 2,273 | -6,414 | -918 | ||||||||
Total assets | 8,382 | 13,845 | 8,382 | 13,845 | 10,672 | ||||||
Capital expenditures | 0 | 0 | 0 | ||||||||
Eliminations | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating revenues | 0 | 0 | 0 | ||||||||
Cost of sales | 0 | 0 | 0 | ||||||||
Gross margin | 0 | 0 | 0 | ||||||||
Operating, general and administrative | 0 | 0 | 0 | ||||||||
MSTI impairment | 0 | ||||||||||
Property and other taxes | 0 | 0 | 0 | ||||||||
Depreciation and depletion | 0 | 0 | 0 | ||||||||
Operating Income | 0 | 0 | 0 | ||||||||
Interest expense | 0 | 0 | 0 | ||||||||
Other income | 0 | 0 | 0 | ||||||||
Income tax (expense) benefit | 0 | 0 | 0 | ||||||||
Net Income | 0 | 0 | 0 | ||||||||
Total assets | 0 | 0 | 0 | 0 | 0 | ||||||
Capital expenditures | $0 | $0 | $0 |
Quarterly_Financial_Data_Unaud2
Quarterly Financial Data (Unaudited) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Operating revenues | $312,947 | $251,912 | $270,281 | $369,723 | $319,090 | $262,248 | $260,161 | $313,020 | $1,204,863 | $1,154,519 | $1,070,342 |
Operating income | 50,584 | 30,987 | 25,097 | 71,350 | 49,962 | 31,401 | 32,660 | 57,010 | 178,018 | 171,033 | 177,185 |
Net Income | $37,169 | $30,191 | $7,746 | $45,580 | $26,093 | $15,647 | $14,341 | $37,902 | $120,686 | $93,983 | $98,406 |
Average Common Shares Outstanding | 43,451,000 | 39,141,000 | 39,137,000 | 38,856,000 | 38,626,000 | 38,459,000 | 38,092,000 | 37,384,000 | 40,156,177 | 38,144,852 | 36,847,427 |
Dividends per share | $0.40 | $0.40 | $0.40 | $0.40 | $0.38 | $0.38 | $0.38 | $0.38 | $1.60 | $1.52 | $1.48 |
Quarter-end close | $56.58 | $45.36 | $52.19 | $47.43 | $43.32 | $44.92 | $39.90 | $39.86 | $56.58 | $43.32 | |
Income per average common share, (basic) | |||||||||||
Net income (loss) | $0.87 | $0.77 | $0.20 | $1.17 | $0.67 | $0.41 | $0.37 | $1.01 | $3.01 | $2.46 | $2.67 |
Income per average common share (diluted) | |||||||||||
Net income (loss) | $0.85 | $0.77 | $0.20 | $1.17 | $0.68 | $0.40 | $0.37 | $1.01 | $2.99 | $2.46 | $2.66 |
Maximum | |||||||||||
Stock price | $58.70 | $52.70 | $52.49 | $47.86 | $47.18 | $45.85 | $43.17 | $40.35 | |||
Minimum | |||||||||||
Stock price | $45.14 | $45.30 | $45.49 | $42.64 | $41.31 | $39.08 | $38.12 | $35.06 |