Long-Term Debt: Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2014

Long-term Debt, Unclassified [Abstract]

Schedule of Long-term Debt Instruments

Long-term debt outstanding was as follows (dollars in thousands) as of:

		Interest Rate at
	Due Date	December 31, 2014	December 31, 2014			December 31, 2013
Corporate
Senior unsecured notes due 2023	November 30, 2023	4.25%	$	525,000		$	525,000
Unamortized discount on Senior unsecured note due 2023 (a)			(2,164		)	—
Senior unsecured notes due 2020	July 15, 2020	5.88%	200,000			200,000
Corporate term loan due 2015 (b)	June 19, 2015	1.31%	275,000			275,000
Total Corporate Debt			997,836			1,000,000
Electric Utilities
First Mortgage Bonds due 2044	October 20, 2044	4.43%	85,000			—
First Mortgage Bonds due 2044	October 20, 2044	4.53%	75,000			—
First Mortgage Bonds due 2032	August 15, 2032	7.23%	75,000			75,000
First Mortgage Bonds due 2039	November 1, 2039	6.13%	180,000			180,000
Unamortized discount on First Mortgage Bonds due 2039			(102		)	(107		)
Pollution control revenue bonds due 2024	October 1, 2024	5.35%	—			12,200
First Mortgage Bonds due 2037	November 20, 2037	6.67%	110,000			110,000
Industrial development revenue bonds due 2021, variable rate (c)	September 1, 2021	0.09%	7,000			7,000
Industrial development revenue bonds due 2027, variable rate (c)	March 1, 2027	0.09%	10,000			10,000
Series 94A Debt, variable rate (c)	June 1, 2024	0.75%	2,855			2,855
Total Electric Utilities			544,753			396,948
Total long-term debt			1,542,589			1,396,948
Less current maturities			275,000			—
Long-term debt, net of current maturities			$	1,267,589		$	1,396,948

_______________

(a) Discount on note initially reflected in deferred financing costs at December 31, 2013.

(b) Variable interest rate, based on LIBOR plus a spread.

(c) Variable interest rate.

Schedule of Maturities of Long-term Debt

Scheduled maturities of long-term debt, excluding amortization of premiums or discounts, for future years are (in thousands):

2015	$	275,000
2016	$	—
2017	$	—
2018	$	—
2019	$	—
Thereafter	$	1,269,855

Deferred Financing Costs

Our deferred financing costs and associated amortization expense included in Interest expense on the accompanying Consolidated Statements of Income were as follows (in thousands):

	Deferred Financing Costs Remaining in Other Assets, Non-current on Balance Sheets at		Amortization Expense for the years ended December 31,
	December 31, 2014		2014		2013		2012
Senior unsecured notes due 2023	$	3,908	$	653	$	86	$	—
Senior unsecured notes due 2014	$	—	$	—	$	635	$	462
Senior unsecured notes due 2020	$	926	$	167	$	167	$	167
First mortgage bonds due 2044 (Black Hills Power) (a)	$	711	$	6	$	—	$	—
First mortgage bonds due 2044 (Cheyenne Light) (a)	$	654	$	6	$	—	$	—
First mortgage bonds due 2032	$	584	$	33	$	33	$	33
First mortgage bonds due 2039	$	1,885	$	76	$	76	$	76
First mortgage bonds due 2037	$	705	$	31	$	31	$	31
Black Hills Wyoming project financing due 2016 (b)	$	—	$	—	$	3,177	$	1,037
Other	$	483	$	53	$	57	$	57

_____________

(a) Deferred financing costs on Cheyenne Prairie first mortgage bonds executed on October 1, 2014.

(b) This project financing was repaid in 2013 and the deferred financing costs were written off.

The deferred financing costs on the new facility are being amortized as follows (in thousands):

	Deferred Financing Costs Remaining on Balance Sheets as of		Amortization Expense for the years ended December 31,
	December 31, 2014		2014		2013		2012
Revolving Credit Facility	$	1,779	$	616	$	752	$	2,187