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Long-Term Debt and Capital Leases
 12 Months Ended
Dec. 31, 2022
Long-Term Debt and Lease Obligation [Abstract]  
Long-term Debt
(11)          Long-Term Debt and Finance Leases

Long-term debt and finance leases consisted of the following (in thousands):
  December 31,
 Due20222021
Unsecured Debt:   
Unsecured Revolving Line of Credit2027$425,000 $— 
Unsecured Revolving Line of Credit202425,000 — 
Unsecured Revolving Line of Credit2023— 373,000 
Secured Debt:   
Mortgage bonds—   
South Dakota—5.01%202564,000 64,000 
South Dakota—4.15%204230,000 30,000 
South Dakota—4.30%205220,000 20,000 
South Dakota—4.85%204350,000 50,000 
South Dakota—4.22%204430,000 30,000 
South Dakota—4.26%204070,000 70,000 
South Dakota—3.21%203050,000 50,000 
South Dakota—2.80%202660,000 60,000 
South Dakota—2.66%202645,000 45,000 
Montana—5.71%203955,000 55,000 
Montana—5.01%2025161,000 161,000 
Montana—4.15%204260,000 60,000 
Montana—4.30%205240,000 40,000 
Montana—4.85%204315,000 15,000 
Montana—3.99%202835,000 35,000 
Montana—4.176%2044450,000 450,000 
Montana—3.11%202575,000 75,000 
Montana—4.11%2045125,000 125,000 
Montana—4.03%2047250,000 250,000 
Montana—3.98%2049150,000 150,000 
Montana—3.21%2030100,000 100,000 
Montana—1.00%2024100,000 100,000 
Pollution control obligations—   
Montana—2.00%2023144,660 144,660 
Other Long Term Debt:   
Discount on Notes and Bonds and Debt Issuance Costs, Net— (10,778)(11,182)
Total Long-Term Debt $2,618,882 $2,541,478 
Less current maturities (including associated debt issuance costs) (144,525)— 
Total Long-Term Debt, Net of Current Maturities $2,474,357 $2,541,478 
Finance Leases:   
Total Finance LeasesVarious$11,897 $14,772 
Less current maturities (3,098)(2,875)
Total Long-Term Finance Leases $8,799 $11,897 
Secured Debt

First Mortgage Bonds and Pollution Control Obligations

The South Dakota First Mortgage Bonds are a series of general obligation bonds issued under our South Dakota indenture. These 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 March 2021, we issued and sold $100.0 million aggregate principal amount of Montana First Mortgage Bonds (the bonds) at a fixed interest rate of 1.00 percent maturing on March 26, 2024. The net proceeds were used to repay in full our outstanding $100.0 million term loan that was due April 2, 2021. We may redeem some or all of the bonds at any time in whole, or from time to time in part, at our option, on or after March 26, 2022, at a redemption price equal to 100% of the principal amount of the bonds to be redeemed, plus accrued and unpaid interest on the principal amount of the bonds being redeemed to, but excluding, the redemption date. The bonds are secured by our electric and natural gas assets in Montana and Wyoming.

As of December 31, 2022, we were in compliance with our financial debt covenants.

Other Long-Term Debt

In July 2021, our two loans totaling $27.0 million associated with the New Market Tax Credit (NMTC) financing agreement were extinguished. These loans were satisfied with our $18.2 million investment in the entities created in relation to the NMTC transaction, investor forgiveness of $7.9 million for substantially all of the benefits derived from the tax credits, and cash payment of $0.9 million. In accordance with our last rate case filing in the state of Montana, the portion of the loan forgiven, less unamortized debt issuance costs of $1.3 million, was recorded as a reduction to the cost of the office building associated with the NMTC financing agreement. This cash payment is reflected within the financing activities section of our Consolidated Statement of Cash Flows for the year ended December 31, 2021; however, the remaining reduction to Long-term debt, Other noncurrent assets, and Property, plant and equipment are non-cash financing activities that are not reflected within our Consolidated Statement of Cash Flows for the year ended December 31, 2021.

Maturities of Long-Term Debt

The aggregate minimum principal maturities of long-term debt and finance leases, during the next five years are $147.8 million in 2023, $128.3 million in 2024, $303.6 million in 2025, $106.9 million in 2026 and $425.0 million in 2027.