XML 31 R21.htm IDEA: XBRL DOCUMENT v3.25.1
Debt
 3 Months Ended
Mar. 31, 2025
Debt Disclosure [Abstract]  
Debt Debt
Certain debt instruments of the Company and its subsidiaries contain restrictive and financial covenants and cross-default provisions. In order to borrow under the respective debt agreements, the Company and its subsidiaries must be in compliance with the applicable covenants and certain other conditions, all of which the Company and its subsidiaries, as applicable, were in compliance with at March 31, 2025. In the event the Company or its subsidiaries do not comply with the applicable covenants and other conditions, alternative sources of funding may need to be pursued.
Montana-Dakota's commercial paper program is supported by a revolving credit agreement. While the amount of commercial paper outstanding does not reduce available capacity under the revolving credit agreement, Montana-Dakota does not issue commercial paper in an aggregate amount exceeding the available capacity under the credit agreement. The commercial paper and revolving credit agreement borrowings may vary during the period, largely the result of fluctuations in working capital requirements due to the seasonality of certain operations of Montana-Dakota.
Long-term Debt Outstanding Long-term debt outstanding was as follows:
 
Weighted
Average
Interest
Rate at
March 31, 2025
March 31, 2025March 31, 2024December 31, 2024
 (In thousands)
Senior Notes due on dates ranging from August 23, 2025 to June 15, 2062
4.57 %$1,947,000 $1,882,000 $1,947,000 
Credit agreements due on June 20, 20296.65 %104,900 120,700 169,700 
Term Loan Agreements due on dates ranging from September 3, 2032 to April 1, 20394.43 %61,600 64,300 65,600 
Commercial paper supported by revolving credit agreement4.69 %51,100 158,800 81,400 
Medium-Term Notes due on dates ranging from September 15, 2027 to March 16, 2029
7.32 %35,000 35,000 35,000 
Other notes due on dates ranging from May 31, 2028 to November 30, 2038
6.00 %342 357 346 
Less unamortized debt issuance costs6,266 6,760 6,436 
Total long-term debt2,193,676 2,254,397 2,292,610 
Less current maturities161,700 60,700 161,700 
Net long-term debt$2,031,976 $2,193,697 $2,130,910