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Financial Instruments And Investments (Tables)
 9 Months Ended
Sep. 30, 2018
Unrealized Gains and losses recognized [Line Items]  
Fair Values Of 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): 
 
September 30, 2018
 
December 31, 2017
 
Carrying
Amount
 
Estimated
Fair
Value
 
Carrying
Amount
 
Estimated
Fair
Value
Pollution Control Bonds
$
157,746

 
$
163,151

 
$
157,676

 
$
169,186

Senior Notes (1)
1,117,968

 
1,221,480

 
993,426

 
1,211,922

RGRT Senior Notes (1)(2)
109,540

 
110,535

 
44,886

 
47,070

RCF (2)
19,362

 
19,362

 
173,533

 
173,533

Total
$
1,404,616

 
$
1,514,528

 
$
1,369,521

 
$
1,601,711

_______________ 
(1)
On June 28, 2018, the Company issued $125 million in aggregate principal amount of 4.22% Senior Notes due August 15, 2028 and guaranteed the issuance by the RGRT of $65 million in aggregate principal amount of 4.07% Senior Guaranteed Notes due August 15, 2025. See Note L, Long-Term Debt and Financing Obligations.
(2)
Nuclear fuel financing, as of September 30, 2018 and December 31, 2017, is funded through $110 million and $45 million RGRT Senior Notes and $19.4 million and $88.5 million, respectively, under the RCF. As of September 30, 2018, no borrowings were outstanding under the RCF for working capital and general corporate purposes. As of December 31, 2017, $85.0 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): 
 
September 30, 2018
 
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
$
9,621

 
$
(246
)
 
$
15,417

 
$
(604
)
 
$
25,038

 
$
(850
)
U.S. Government Bonds
19,828

 
(516
)
 
27,478

 
(1,969
)
 
47,306

 
(2,485
)
Municipal Debt Obligations
4,327

 
(153
)
 
8,131

 
(747
)
 
12,458

 
(900
)
Corporate Debt Obligations
27,701

 
(913
)
 
3,978

 
(388
)
 
31,679

 
(1,301
)
Total
$
61,477

 
$
(1,828
)
 
$
55,004

 
$
(3,708
)
 
$
116,481

 
$
(5,536
)
 
_________________
(1)
Includes 163 securities.
 
December 31, 2017
 
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
$
4,700

 
$
(46
)
 
$
10,099

 
$
(165
)
 
$
14,799

 
$
(211
)
U.S. Government Bonds
28,866

 
(416
)
 
18,186

 
(969
)
 
47,052

 
(1,385
)
Municipal Debt Obligations
4,290

 
(73
)
 
9,736

 
(742
)
 
14,026

 
(815
)
Corporate Debt Obligations
10,685

 
(107
)
 
4,475

 
(331
)
 
15,160

 
(438
)
Total Debt Securities
48,541

 
(642
)
 
42,496

 
(2,207
)
 
91,037

 
(2,849
)
Domestic Equity Securities
962

 
(210
)
 
—

 
—

 
962

 
(210
)
Total
$
49,503

 
$
(852
)
 
$
42,496

 
$
(2,207
)
 
$
91,999

 
$
(3,059
)
 
_________________
(2)
Includes 146 securities.
Marketable Securities Fair Value and Unrecognized Gross Unrealized Gain
The table below presents the unrecognized gross unrealized gains and the fair value of these securities, aggregated by investment category (in thousands): 
 
September 30, 2018
 
December 31, 2017
 
Fair
Value
 
Unrealized
Gains
 
Fair
Value
 
Unrealized
Gains
Description of Securities:
 
 
 
 
 
 
 
Federal Agency Mortgage Backed Securities
$
2,169

 
$
76

 
$
5,933

 
$
203

U.S. Government Bonds
1,615

 
50

 
11,129

 
256

Municipal Debt Obligations
2,005

 
79

 
2,558

 
109

Corporate Debt Obligations
8,320

 
317

 
19,514

 
1,067

Total Debt Securities
14,109

 
522

 
39,134

 
1,635

Domestic Equity Securities
—

 
—

 
120,065

 
45,587

International Equity Securities
—

 
—

 
28,804

 
5,908

Cash and Cash Equivalents
—

 
—

 
6,864

 
—

Total
$
14,109

 
$
522

 
$
194,867

 
$
53,130
Sale of Securities And The Related Effects On Pre-Tax Income
The proceeds from the sale of these securities during the three, nine and twelve months ended September 30, 2018 and 2017, and the related effects on pre-tax income are as follows (in thousands): 
 
Three Months Ended
 
Nine Months Ended
 
Twelve Months Ended
 
September 30,
 
September 30,
 
September 30,
 
2018
 
2017
 
2018
 
2017
 
2018
 
2017
Proceeds from sales or maturities of available-for-sale securities
$
7,451

 
$
13,967

 
$
21,816

 
$
76,498

 
$
42,355

 
$
107,601

Gross realized gains included in pre-tax income
$
—

 
$
1,797

 
$
9

 
$
9,706

 
$
2,076

 
$
12,231

Gross realized losses included in pre-tax income
(443
)
 
(32
)
 
(1,117
)
 
(584
)
 
(1,680
)
 
(1,039
)
Gross unrealized losses included in pre-tax income
—

 
—

 
—

 
—

 
—

 
—

Net gains (losses) included in pre-tax income
$
(443
)
 
$
1,765

 
$
(1,108
)
 
$
9,122

 
$
396

 
$
11,192
Fair Value, Measurement Inputs, Disclosure
The fair value of the NDT and investments in debt securities at September 30, 2018 and December 31, 2017, 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 September 30, 2018
 
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
$
1,681

 
$
—

 
$
—

 
$
1,681

Equity Securities:
 
 
 
 
 
 
 
Domestic
$
127,966

 
$
127,966

 
$
—

 
$
—

International
28,229

 
28,229

 
—

 
—

Total Equity Securities
156,195

 
156,195

 
—

 
—

Available for Sale Debt Securities:
 
 
 
 
 
 
 
Federal Agency Mortgage Backed Securities
27,207

 
—

 
27,207

 
—

U.S. Government Bonds
48,921

 
48,921

 
—

 
—

Municipal Debt Obligations
14,463

 
—

 
14,463

 
—

Corporate Debt Obligations
39,999

 
—

 
39,999

 
—

Total Available for Sale Debt Securities
130,590

 
48,921

 
81,669

 
—

Cash and Cash Equivalents
10,245

 
10,245

 
—

 
—

Total
$
297,030

 
$
215,361

 
$
81,669

 
$
—

Description of Securities
Fair Value as of December 31, 2017
 
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
$
1,735

 
$
—

 
$
—

 
$
1,735

Available for Sale:
 
 
 
 
 
 
 
Federal Agency Mortgage Backed Securities
$
20,732

 
$
—

 
$
20,732

 
$
—

U.S. Government Bonds
58,181

 
58,181

 
—

 
—

Municipal Debt Obligations
16,584

 
—

 
16,584

 
—

Corporate Debt Obligations
34,674

 
—

 
34,674

 
—

Subtotal, Debt Securities
130,171

 
58,181

 
71,990

 
—

Domestic
121,027

 
121,027

 
—

 
—

International
28,804

 
28,804

 
—

 
—

Subtotal, Equity Securities
149,831

 
149,831

 
—

 
—

Cash and Cash Equivalents
6,864

 
6,864

 
—

 
—

Total
$
286,866

 
$
214,876

 
$
71,990

 
$
—
Available-for-sale Securities  
Unrealized Gains and losses recognized [Line Items]  
Contractual Year For Maturity Of Available-For-Sale Securities
The contractual year for maturity of these available-for-sale debt securities as of September 30, 2018, is as follows (in thousands): 
 
Total
 
2018
 
2019
through
2022
 
2023 through 2027
 
2028 and Beyond
Federal Agency Mortgage Backed Securities
$
27,207

 
$
—

 
$
8

 
$
228

 
$
26,971

U.S. Government Bonds
48,921

 
1,228

 
27,157

 
11,148

 
9,388

Municipal Debt Obligations
14,463

 
104

 
5,498

 
5,716

 
3,145

Corporate Debt Obligations
39,999

 
—

 
17,764

 
9,968

 
12,267
Equity Securities  
Unrealized Gains and losses recognized [Line Items]  
Unrealized Gain (Loss) on Investments
The unrealized gains and losses recognized during the three and nine months ended, September 30, 2018 and related effects on pre-tax income are as follows (in thousands):
 
Three Months Ended
 
Nine Months Ended
 
September 30, 2018
 
 
 
 
Net gains and (losses) recognized on equity securities
$
9,533

 
$
10,791

Less: Net gains and (losses) recognized on equity securities sold
3,005

 
7,061

Unrealized gains and (losses) recognized on equity securities still held at reporting date
$
6,528

 
$
3,730