Capitalization (Tables)

12 Months Ended

Dec. 31, 2022

Capitalization [Abstract]

Schedule of long-term debt

The aggregate annual principal repayment obligations for all long-term debt over the next five years and thereafter are shown below:

Year	(Millions of Dollars) Annual Maturities
2023	$	17.5
2024	$	7.4
2025	$	6.9
2026	$	6.7
2027	$	6.4
Thereafter	$	261.5

Schedule of basic and diluted earnings per share

The following table presents the calculation of basic and diluted earnings per share (EPS) for the years ended December 31, 2022, 2021 and 2020. Basic EPS is computed on the basis of the weighted average number of shares outstanding. Diluted EPS assumes the conversion of the Convertible Preferred Stock $7.00 Series.

	(In Thousands, Except Per Share Amounts)
	2022					2021					2020
Basic:	Income			Shares		Income			Shares		Income			Shares
Net Income	$	42,429			17,597	$	36,543			17,492	$	38,425			17,459
Preferred Dividend		(120	)				(120	)				(120	)
Earnings Applicable to Common Stock	$	42,309			17,597	$	36,423			17,492	$	38,305			17,459
Basic EPS	$	2.40				$	2.08				$	2.19
Diluted:
Earnings Applicable to Common Stock	$	42,309			17,597	$	36,423			17,492	$	38,305			17,459
$7.00 Series Dividend		67			115		67			115		67			115
Adjusted Earnings Applicable to Common Stock	$	42,376			17,712	$	36,490			17,607	$	38,372			17,574
Diluted EPS	$	2.39				$	2.07				$	2.18

Schedule of carrying amount and fair value of the bonds

The carrying amount and fair value of the Bonds were as follows:

	(Thousands of Dollars)
	At December 31,
	2022				2021
	Carrying		Fair		Carrying		Fair
	Amount		Value		Amount		Value
FMBs	$	147,269	$	138,756	$	98,828	$	107,781