LONG-TERM DEBT (Tables)

12 Months Ended

Dec. 31, 2019

LONG-TERM DEBT.

Schedule of long-term debt

Long-term debt consists of the following (dollars in thousands):

	December 31,		December 31,
	2019		2018
Mortgage notes payable
3.66% to 8.08% CFC, due through 2028	$	73,859	$	77,085
2.63% to 4.43% CoBank, ACB, due through 2042		235,900		245,787
First Mortgage Obligations, Series 2017A, Tranche 1, 3.34%, due through 2029		60,000		60,000
First Mortgage Obligations, Series 2017A, Tranche 2, 3.39%, due through 2029		60,000		60,000
First Mortgage Bonds, Series 2016A, 4.25% due 2046		250,000		250,000
First Mortgage Bonds, Series 2014E-1, 3.70% due 2024		250,000		250,000
First Mortgage Bonds, Series 2014E-2, 4.70% due 2044		250,000		250,000
First Mortgage Bonds, Series 2010A, 6.00% due 2040		500,000		500,000
First Mortgage Obligations, Series 2014B, Tranche 1, 3.90%, due through 2033		180,000		180,000
First Mortgage Obligations, Series 2014B, Tranche 2, 4.30%, due through 2039		20,000		20,000
First Mortgage Obligations, Series 2014B, Tranche 3, 4.45%, due through 2045		550,000		550,000
First Mortgage Obligations, Series 2009C, Tranche 1, 6.00%, due through 2019		—		27,143
First Mortgage Obligations, Series 2009C, Tranche 2, 6.31%, due through 2021		44,000		66,000
Variable rate CFC, as determined by CFC, due through 2026		443		498
Variable rate CFC, LIBOR-based term loan, due through 2049		102,220		102,220
Variable rate CoBank, ACB, LIBOR-based term loans, due through 2044		172,039		137,130
Pollution control revenue bonds
Moffat County, CO, 2.00% term rate through October 2022, Series 2009, due 2036		46,800		46,800
Springerville certificates
Series B, 7.14%, due through 2033		371,211		405,000
Total debt	$	3,166,472	$	3,227,663
Less debt issuance costs		(27,412)		(29,775)
Less debt discounts		(9,906)		(10,139)
Plus debt premiums		15,752		17,309
Total debt adjusted for discounts, premiums and debt issuance costs	$	3,144,906	$	3,205,058
Less current maturities		(81,555)		(95,757)
Long-term debt	$	3,063,351	$	3,109,301

Schedule of annual maturities of long-term debt

Annual maturities of total debt adjusted for debt issuance costs, discounts and premiums at December 31, 2019 are as follows (dollars in thousands):

2020	$	81,555
2021		87,697
2022		93,143
2023		73,184
2024 (1)		306,157
Thereafter		2,503,170
	$	3,144,906