Financial Instruments And Investments (Tables)

3 Months Ended

Mar. 31, 2016

Fair Value Disclosures [Abstract]

Fair Values Of Long-Term Debt And Short-Term Borrowings Under the RCF

Long-Term Debt and Short-Term Borrowings Under the RCF. The fair values of the Company's long-term debt and short-term borrowings under the RCF are based on estimated market prices for similar issues and are presented below (in thousands):

	March 31, 2016				December 31, 2015
	Carrying Amount (1)		Estimated Fair Value		Carrying Amount (1)		Estimated Fair Value
Pollution Control Bonds	$	190,568	$	212,123	$	190,499	$	212,624
Senior Notes	993,195		1,159,850		837,475		829,864
RGRT Senior Notes (2)	94,686		101,190		94,686		100,345
RCF (2)	87,050		87,050		141,738		141,738
Total	$	1,365,499	$	1,560,213	$	1,264,398	$	1,284,571

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(1) The Company implemented ASU 2015-03, Interest - Imputation of Interest, which requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability. ASU 2015-03 is effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years.The impact of ASU 2015-03 on the Company's balance sheet was to reclassify $11.6 million of other deferred charges to long-term debt, net of current portion at December 31, 2015.

(2) Nuclear fuel financing, as of March 31, 2016 and December 31, 2015, is funded through the $95 million RGRT Senior Notes and $37.1 million and $33.7 million, respectively under the RCF. As of March 31, 2016, $50.0 million was outstanding under the RCF for working capital or general corporate purposes. As of December 31, 2015, $108.0 million was outstanding under the RCF for working capital or general corporate purposes. The interest rate on the Company's borrowings under the RCF is reset throughout the quarter reflecting current market rates. Consequently, the carrying value approximates fair value.

Unrecognized Gross Unrealized Gains (Losses) And the Fair Value

The tables below present the gross unrealized losses and the fair value of these securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position (in thousands):

	March 31, 2016
	Less than 12 Months					12 Months or Longer					Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
Description of Securities (1):
Federal Agency Mortgage Backed Securities	$	996	$	(2	)	$	1,109	$	(23	)	$	2,105	$	(25	)
U.S. Government Bonds	8,656		(51		)	13,666		(501		)	22,322		(552		)
Municipal Obligations	3,569		(42		)	8,681		(513		)	12,250		(555		)
Corporate Obligations	3,128		(170		)	2,949		(276		)	6,077		(446		)
Total Debt Securities	16,349		(265		)	26,405		(1,313		)	42,754		(1,578		)
Common Stock	3,441		(620		)	—		—			3,441		(620		)
Institutional Equity Funds-International Equity	21,856		(1,321		)	—		—			21,856		(1,321		)
Total Temporarily Impaired Securities	$	41,646	$	(2,206	)	$	26,405	$	(1,313	)	$	68,051	$	(3,519	)

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(1) Includes 105 securities.

	December 31, 2015
	Less than 12 Months					12 Months or Longer					Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
Description of Securities (2):
Federal Agency Mortgage Backed Securities	$	9,383	$	(97	)	$	1,113	$	(47	)	$	10,496	$	(144	)
U.S. Government Bonds	24,094		(310		)	14,272		(623		)	38,366		(933		)
Municipal Obligations	8,286		(160		)	7,388		(446		)	15,674		(606		)
Corporate Obligations	6,058		(722		)	2,307		(228		)	8,365		(950		)
Total Debt Securities	47,821		(1,289		)	25,080		(1,344		)	72,901		(2,633		)
Common Stock	3,584		(344		)	—		—			3,584		(344		)
Institutional Equity Funds-International Equity	22,454		(768		)	—		—			22,454		(768		)
Total Temporarily Impaired Securities	$	73,859	$	(2,401	)	$	25,080	$	(1,344	)	$	98,939	$	(3,745	)

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(2) Includes 133 securities.

Unrealized Holding Losses Included In Pre-Tax Income

For the three and twelve months ended March 31, 2016 and 2015, the Company recognized other than temporary impairment losses on its available-for-sale securities as follows (in thousands):

	Three Months Ended					Twelve Months Ended
	March 31,					March 31,
	2016			2015		2016			2015
Unrealized holding losses included in pre-tax income	$	(156	)	$	—	$	(494	)	$	—

Available-For-Sale-Securities, Continuous Unrealized Gain Position

The table below presents the unrecognized gross unrealized gains and the fair value of these securities, aggregated by investment category (in thousands):

	March 31, 2016				December 31, 2015
	Fair Value		Unrealized Gains		Fair Value		Unrealized Gains
Description of Securities:
Federal Agency Mortgage Backed Securities	$	17,633	$	621	$	9,589	$	438
U.S. Government Bonds	32,557		1,005		12,033		136
Municipal Obligations	10,622		458		8,671		332
Corporate Obligations	16,070		799		10,110		368
Total Debt Securities	76,882		2,883		40,403		1,274
Common Stock	68,928		35,675		72,636		37,001
Equity Mutual Funds	23,764		382		18,853		91
Cash and Cash Equivalents	6,065		—		8,204		—
Total	$	175,639	$	38,940	$	140,096	$	38,366

Contractual Year For Maturity Of Available-For-Sale Securities

The contractual year for maturity of these available-for-sale securities as of March 31, 2016 is as follows (in thousands):

	Total		2016		2017 through 2020		2021 through 2025		2026 and Beyond
Municipal Debt Obligations	$	22,872	$	717	$	9,302	$	11,340	$	1,513
Corporate Debt Obligations	22,147		—		5,863		8,389		7,895
U.S. Government Bonds	54,879		3,413		25,654		14,189		11,623

Sale of Securities And The Related Effects On Pre-Tax Income

The proceeds from the sale of these securities during the three and twelve months ended March 31, 2016 and 2015 and the related effects on pre-tax income are as follows (in thousands):

	Three Months Ended						Twelve Months Ended
	March 31,						March 31,
	2016			2015			2016			2015
Proceeds from sales or maturities of available-for-sale securities	$	24,078		$	24,642		$	102,003		$	104,126
Gross realized gains included in pre-tax income	$	1,832		$	3,782		$	10,429		$	8,626
Gross realized losses included in pre-tax income	(288		)	(37		)	(1,178		)	(396		)
Gross unrealized losses included in pre-tax income	(156		)	—			(494		)	—
Net gains in pre-tax income	$	1,388		$	3,745		$	8,757		$	8,230
Net unrealized holding gains (losses) included in accumulated other comprehensive income	$	2,190		$	1,014		$	(1,730	)	$	10,843
Net gains reclassified out of accumulated other comprehensive income	(1,388		)	(3,745		)	(8,757		)	(8,230		)
Net gains (losses) in other comprehensive income	$	802		$	(2,731	)	$	(10,487	)	$	2,613

Fair Value, Measurement Inputs, Disclosure

The fair value of the Company's decommissioning trust funds and investments in debt securities at March 31, 2016 and December 31, 2015, and the level within the three levels of the fair value hierarchy defined by the FASB guidance are presented in the table below (in thousands):

Description of Securities	Fair Value as of March 31, 2016		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Trading Securities:
Investments in Debt Securities	$	1,515	$	—	$	—	$	1,515
Available for sale:
U.S. Government Bonds	$	54,879	$	54,879	$	—	$	—
Federal Agency Mortgage Backed Securities	19,738		—		19,738		—
Municipal Bonds	22,872		—		22,872		—
Corporate Asset Backed Obligations	22,147		—		22,147		—
Subtotal Debt Securities	119,636		54,879		64,757		—
Common Stock	72,369		72,369		—		—
Equity Mutual Funds	23,764		23,764		—		—
Institutional Funds-International Equity (1)	21,856
Cash and Cash Equivalents	6,065		6,065		—		—
Total Available for Sale	$	243,690	$	157,077	$	64,757	$	—

Description of Securities	Fair Value as of December 31, 2015		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Trading Securities:
Investments in Debt Securities	$	1,543	$	—	$	—	$	1,543
Available for sale:
U.S. Government Bonds	$	50,399	$	50,399	$	—	$	—
Federal Agency Mortgage Backed Securities	20,085		—		20,085		—
Municipal Bonds	24,345		—		24,345		—
Corporate Asset Backed Obligations	18,475		—		18,475		—
Subtotal Debt Securities	113,304		50,399		62,905		—
Common Stock	76,220		76,220		—		—
Equity Mutual Funds	18,853		18,853		—		—
Institutional Funds-International Equity (1)	22,454
Cash and Cash Equivalents	8,204		8,204		—		—
Total Available for Sale	$	239,035	$	153,676	$	62,905	$	—

(1) In accordance with ASU 2015-07 Subtopic 820-10, certain investments that are measured at fair value using the NAV per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the statement of financial position.