Document and Entity Information
Document and Entity Information Document | 6 Months Ended |
Jun. 30, 2019shares | |
Cover page. | |
Document Type | 10-Q |
Document Quarterly Report | true |
Document Period End Date | Jun. 30, 2019 |
Document Transition Report | false |
Entity File Number | 1-7978 |
Entity Registrant Name | Black Hills Power, Inc. |
Entity Incorporation, State or Country Code | SD |
Entity Tax Identification Number | 46-0111677 |
Entity Address, Address Line One | 7001 Mount Rushmore Road |
Entity Address, City or Town | Rapid City |
Entity Address, State or Province | SD |
Entity Address, Postal Zip Code | 57702 |
City Area Code | (605) |
Local Phone Number | 721-1700 |
Entity Current Reporting Status | Yes |
Entity Interactive Data Current | Yes |
Entity Filer Category | Non-accelerated Filer |
Entity Small Business | false |
Entity Emerging Growth Company | false |
Entity Shell Company | false |
Entity Common Stock, Shares Outstanding | 23,416,396 |
Entity Central Index Key | 0000012400 |
Amendment Flag | false |
Document Fiscal Year Focus | 2019 |
Document Fiscal Period Focus | Q2 |
Current Fiscal Year End Date | --12-31 |
Condensed Statements of Compreh
Condensed Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Income Statement [Abstract] | ||||
Revenues | $ 69,246 | $ 70,676 | $ 148,287 | $ 144,491 |
Operating expenses: | ||||
Fuel and purchased power | 18,381 | 20,753 | 41,114 | 43,193 |
Operations and maintenance | 21,128 | 18,428 | 40,685 | 37,579 |
Depreciation and amortization | 10,357 | 9,866 | 20,434 | 19,750 |
Taxes - property | 2,070 | 2,134 | 4,102 | 4,110 |
Total operating expenses | 51,936 | 51,181 | 106,335 | 104,632 |
Operating income | 17,310 | 19,495 | 41,952 | 39,859 |
Other income (expense): | ||||
Interest expense incurred (including amortization of debt issuance costs, premiums, and discounts) | (5,876) | (5,654) | (11,706) | (11,241) |
Allowance for funds used during construction - borrowed | 427 | 152 | 710 | 200 |
Interest income | 172 | 123 | 287 | 238 |
Other income (expense), net | 291 | (242) | (84) | (359) |
Total other income (expense), net | (4,986) | (5,621) | (10,793) | (11,162) |
Income before income taxes | 12,324 | 13,874 | 31,159 | 28,697 |
Income tax expense | (2,176) | (2,749) | (5,514) | (5,812) |
Net income | 10,148 | 11,125 | 25,645 | 22,885 |
Other comprehensive income (loss), net of tax: | ||||
Reclassification of net realized (gains) losses on settled/amortized interest rate swaps (net of tax of $(7), $(5), $(7) and $(11), respectively) | 25 | 11 | 25 | 21 |
Reclassification adjustment of benefit plan liability - net gain (loss) (net of tax of $(2), $(9), $(6) and $(18), respectively) | 14 | 17 | 26 | 34 |
Other comprehensive income (loss), net of tax | 39 | 28 | 51 | 55 |
Comprehensive income | $ 10,187 | $ 11,153 | $ 25,696 | $ 22,940 |
Condensed Statements of Compr_2
Condensed Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Income Statement [Abstract] | ||||
Reclassification adjustment of cash flow hedges settled, (tax) benefit | $ (7) | $ (5) | $ (7) | $ (11) |
Reclassification adjustment of benefit and other postretirement plans included in net income, (tax) benefit | $ (2) | $ (9) | $ (6) | $ (18) |
Condensed Balance Sheets
Condensed Balance Sheets - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Current assets: | ||
Cash | $ 5 | $ 112 |
Accounts receivable, net | 25,882 | 28,431 |
Accounts receivable from affiliates | 5,102 | 8,119 |
Materials, supplies and fuel | 25,313 | 24,853 |
Regulatory assets, current | 22,339 | 19,052 |
Other current assets | 4,460 | 4,538 |
Total current assets | 83,101 | 85,105 |
Investments | 4,846 | 4,889 |
Property, plant and equipment | 1,428,721 | 1,381,045 |
Less: accumulated depreciation and amortization | (390,570) | (376,160) |
Total property, plant and equipment, net | 1,038,151 | 1,004,885 |
Other assets: | ||
Regulatory assets, non-current | 53,364 | 56,680 |
Other assets, non-current | 26,284 | 9,729 |
Total other assets, non-current | 79,648 | 66,409 |
TOTAL ASSETS | 1,205,746 | 1,161,288 |
Current liabilities: | ||
Accounts payable | 22,730 | 25,122 |
Accounts payable to affiliates | 24,737 | 25,804 |
Accrued liabilities | 38,159 | 34,193 |
Money pool notes payable | 13,071 | 38,690 |
Notes payable to Parent | 25,000 | 0 |
Regulatory liabilities, current | 2,392 | 2,574 |
Total current liabilities | 126,089 | 126,383 |
Long-term debt | 340,105 | 340,035 |
Deferred credits and other liabilities: | ||
Deferred income tax liabilities, net | 117,272 | 114,009 |
Regulatory liabilities, non-current | 162,104 | 160,642 |
Benefit plan liabilities | 14,568 | 14,606 |
Other deferred credits and other liabilities | 15,672 | 1,368 |
Total deferred credits and other liabilities | 309,616 | 290,625 |
Commitments and contingencies (Notes 5, 6 and 9) | ||
Stockholder’s equity: | ||
Common stock $1 par value; 50,000,000 shares authorized; 23,416,396 shares issued | 23,416 | 23,416 |
Additional paid-in capital | 39,575 | 39,575 |
Retained earnings | 367,785 | 342,145 |
Accumulated other comprehensive loss | (840) | (891) |
Total stockholder’s equity | 429,936 | 404,245 |
TOTAL LIABILITIES AND STOCKHOLDER’S EQUITY | $ 1,205,746 | $ 1,161,288 |
Condensed Balance Sheets (Paren
Condensed Balance Sheets (Parenthetical) - $ / shares | Jun. 30, 2019 | Dec. 31, 2018 |
Statement of Financial Position [Abstract] | ||
Common Stock, Par Value (usd per share) | $ 1 | $ 1 |
Common Stock, Shares authorized | 50,000,000 | 50,000,000 |
Common Stock, Shares Issued | 23,416,396 | 23,416,396 |
Condensed Statements of Cash Fl
Condensed Statements of Cash Flows - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Operating activities: | ||
Net income | $ 25,645 | $ 22,885 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization | 20,434 | 19,750 |
Deferred income tax | 2,004 | (1,407) |
Employee benefits | 389 | 760 |
Other adjustments, net | 1,767 | 1,091 |
Change in operating assets and liabilities: | ||
Accounts receivable and other current assets | 4,841 | (1,494) |
Accounts payable and other current liabilities | 47 | 2,170 |
Regulatory assets - current | (2,037) | 2,797 |
Regulatory liabilities - current | (131) | 5,709 |
Other operating activities, net | (2,372) | (458) |
Net cash provided by (used in) operating activities | 50,587 | 51,803 |
Investing activities: | ||
Property, plant and equipment additions | (49,387) | (27,399) |
Proceeds from sale of assets | 0 | 4,994 |
Other investing activities | (688) | (4,961) |
Net cash provided by (used in) investing activities | (50,075) | (27,366) |
Financing activities: | ||
Change in money pool notes payable, net | (619) | (24,448) |
Net cash provided by (used in) financing activities | (619) | (24,448) |
Net change in cash | (107) | (11) |
Cash, beginning of period | 112 | 16 |
Cash, end of period | $ 5 | $ 5 |
Statements of Common Stockholde
Statements of Common Stockholder's Equity Statement - USD ($) $ in Thousands | Total | Common Stock | Additional Paid-in Capital | Retained Earnings | AOCI Attributable to Parent |
Common Stock, Shares Issued - Beginning Balance at Dec. 31, 2017 | 23,416,396 | ||||
Stockholders' Equity - Beginning Balance at Dec. 31, 2017 | $ 394,232 | $ 23,416 | $ 39,575 | $ 332,499 | $ (1,258) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Net income | 11,760 | 11,760 | |||
Other Comprehensive Income (Loss), Net of Tax | 27 | 27 | |||
Dividend to Parent company | (16,000) | (16,000) | |||
Other adjustments | 1 | 1 | |||
Common Stock, Shares Issued - Ending Balance at Mar. 31, 2018 | 23,416,396 | ||||
Stockholders' Equity - Ending Balance at Mar. 31, 2018 | 390,020 | $ 23,416 | 39,575 | 328,260 | (1,231) |
Common Stock, Shares Issued - Beginning Balance at Dec. 31, 2017 | 23,416,396 | ||||
Stockholders' Equity - Beginning Balance at Dec. 31, 2017 | 394,232 | $ 23,416 | 39,575 | 332,499 | (1,258) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Net income | 22,885 | ||||
Other Comprehensive Income (Loss), Net of Tax | 55 | ||||
Common Stock, Shares Issued - Ending Balance at Jun. 30, 2018 | 23,416,396 | ||||
Stockholders' Equity - Ending Balance at Jun. 30, 2018 | 391,173 | $ 23,416 | 39,575 | 329,385 | (1,203) |
Common Stock, Shares Issued - Beginning Balance at Mar. 31, 2018 | 23,416,396 | ||||
Stockholders' Equity - Beginning Balance at Mar. 31, 2018 | 390,020 | $ 23,416 | 39,575 | 328,260 | (1,231) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Net income | 11,125 | 11,125 | |||
Other Comprehensive Income (Loss), Net of Tax | 28 | 28 | |||
Dividend to Parent company | (10,000) | (10,000) | |||
Common Stock, Shares Issued - Ending Balance at Jun. 30, 2018 | 23,416,396 | ||||
Stockholders' Equity - Ending Balance at Jun. 30, 2018 | $ 391,173 | $ 23,416 | 39,575 | 329,385 | (1,203) |
Common Stock, Shares Issued - Beginning Balance at Dec. 31, 2018 | 23,416,396 | 23,416,396 | |||
Stockholders' Equity - Beginning Balance at Dec. 31, 2018 | $ 404,245 | $ 23,416 | 39,575 | 342,145 | (891) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Net income | 15,497 | 15,497 | |||
Other Comprehensive Income (Loss), Net of Tax | 12 | 12 | |||
Other adjustments | 1 | 1 | |||
Common Stock, Shares Issued - Ending Balance at Mar. 31, 2019 | 23,416,396 | ||||
Stockholders' Equity - Ending Balance at Mar. 31, 2019 | $ 419,748 | $ 23,416 | 39,575 | 357,636 | (879) |
Common Stock, Shares Issued - Beginning Balance at Dec. 31, 2018 | 23,416,396 | 23,416,396 | |||
Stockholders' Equity - Beginning Balance at Dec. 31, 2018 | $ 404,245 | $ 23,416 | 39,575 | 342,145 | (891) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Net income | 25,645 | ||||
Other Comprehensive Income (Loss), Net of Tax | $ 51 | ||||
Common Stock, Shares Issued - Ending Balance at Jun. 30, 2019 | 23,416,396 | 23,416,396 | |||
Stockholders' Equity - Ending Balance at Jun. 30, 2019 | $ 429,936 | $ 23,416 | 39,575 | 367,785 | (840) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Cumulative effect of ASC 842 implementation | (7) | (7) | |||
Common Stock, Shares Issued - Beginning Balance at Mar. 31, 2019 | 23,416,396 | ||||
Stockholders' Equity - Beginning Balance at Mar. 31, 2019 | 419,748 | $ 23,416 | 39,575 | 357,636 | (879) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Net income | 10,148 | 10,148 | |||
Other Comprehensive Income (Loss), Net of Tax | 39 | 39 | |||
Other adjustments | $ 1 | 1 | |||
Common Stock, Shares Issued - Ending Balance at Jun. 30, 2019 | 23,416,396 | 23,416,396 | |||
Stockholders' Equity - Ending Balance at Jun. 30, 2019 | $ 429,936 | $ 23,416 | $ 39,575 | $ 367,785 | $ (840) |
Management's Statement_
Management's Statement: | 6 Months Ended |
Jun. 30, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Management's Statement | MANAGEMENT’S STATEMENT The unaudited condensed financial statements included herein have been prepared by Black Hills Power, Inc. (the “Company,” “we,” “us,” or “our”), pursuant to the rules and regulations of the SEC. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to such rules and regulations; however, we believe that the footnotes adequately disclose the information presented. These condensed financial statements should be read in conjunction with the financial statements and the notes thereto, included in our 2018 Annual Report on Form 10-K filed with the SEC. The information furnished in the accompanying condensed financial statements reflects certain estimates required and all adjustments, including accruals, which are, in the opinion of management, necessary for a fair presentation of the June 30, 2019 , December 31, 2018 and June 30, 2018 financial information and are of a normal recurring nature. The results of operations for the three and six months ended June 30, 2019 and June 30, 2018 , and our financial condition as of June 30, 2019 and December 31, 2018 are not necessarily indicative of the results of operations and financial condition to be expected as of or for any other period. Recently Issued Accounting Standards Financial Instruments -- Credit Losses: Measurement of Credit Losses on Financial Instruments, ASU 2018-19 In June 2016, the FASB issued ASU 2016-13, Financial Instruments -- Credit Losses: Measurement of Credit Losses on Financial Instrument s, which was subsequently amended by ASU 2018-19 in November 2018. The standard introduces new accounting guidance for credit losses on financial instruments within its scope, including trade receivables. This new guidance adds an impairment model that is based on expected losses rather than incurred losses. It is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. We are currently assessing the impacts of adopting this standard. Recently Adopted Accounting Standards Leases, ASU 2016-02 In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) to increase transparency and comparability among organizations by requiring the recognition of right-of-use assets and lease liabilities on the balance sheet for most leases, whereas previously only financing-type lease liabilities (capital leases) were recognized on the balance sheet. Under the new standard, disclosures are required to meet the objective of enabling users of financial statements to assess the amount, timing and uncertainty of cash flows arising from leases. We adopted the standard effective January 1, 2019. We elected the option to not recast comparative periods presented with transitioning to the new lease standard and will report these comparative periods as presented under previous lease guidance. In addition, we elected the package of practical expedients permitted under the transition guidance with the new standard, which among other things, allowed us to carry forward the historical lease classification. We also elected the practical expedient related to land easements, allowing us to carry forward our accounting treatment of existing land easement agreements. Adoption of the new standard resulted in the recording of an operating lease right-of-use asset and an off-setting operating lease obligation liability of $14 million |
Revenue_
Revenue: | 6 Months Ended |
Jun. 30, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Revenue | REVENUE Revenue Recognition As of January 1, 2018, we adopted ASU 2014-09, Revenue from Contracts with Customers (Topic 606) , and its related amendments (collectively known as ASC 606). Revenue is recognized in an amount that reflects the consideration we expect to receive in exchange for goods or services, when control of the promised goods or services is transferred to our customers. The following table depicts the disaggregation of revenue, from contracts with customers by customer type and timing of revenue recognition for the three and six months ended June 30, 2019 and 2018 . Sales tax and other similar taxes are excluded from revenues. Three Months Ended June 30, 2019 Three Months Ended June 30, 2018 Six Months Ended June 30, 2019 Six Months Ended June 30, 2018 (in thousands) Customer types: Retail $ 46,809 $ 46,525 $ 99,885 $ 97,166 Wholesale 6,780 8,191 15,123 17,241 Market - off-system sales 2,393 3,449 7,063 5,724 Transmission/Other 13,083 12,372 25,914 24,090 Revenue from contracts with customers 69,065 70,537 147,985 144,221 Other revenues 181 139 302 270 Total revenues $ 69,246 $ 70,676 $ 148,287 $ 144,491 Timing of revenue recognition: Services transferred over time $ 69,065 $ 70,537 $ 147,985 $ 144,221 Revenue from contracts with customers $ 69,065 $ 70,537 $ 147,985 $ 144,221 Contract Balances The nature of our primary revenue contracts provides an unconditional right to consideration upon service delivery; therefore, no customer contract assets or liabilities exist. The unconditional right to consideration is represented by the balance in our Accounts receivable and is further discussed in Note 3. We do not typically incur costs that would be capitalized, to obtain or fulfill a revenue contract. |
Accounts Receivable_
Accounts Receivable: | 6 Months Ended |
Jun. 30, 2019 | |
Accounts Receivable, Net [Abstract] | |
Accounts Receivable | ACCOUNTS RECEIVABLE Following is a summary of Accounts receivable, net included in the accompanying Condensed Balance Sheets (in thousands) as of: June 30, 2019 December 31, 2018 Accounts receivable trade $ 15,972 $ 16,236 Unbilled revenues 10,110 12,333 Allowance for doubtful accounts (200 ) (138 ) Accounts receivable, net $ 25,882 $ 28,431 |
Regulatory Accounting_
Regulatory Accounting: | 6 Months Ended |
Jun. 30, 2019 | |
Regulated Operations [Abstract] | |
Regulatory Accounting | REGULATORY ACCOUNTING Our regulated electric operations are subject to regulation by various state and federal agencies. The accounting policies followed are generally subject to the Uniform System of Accounts of the FERC. Our regulatory assets and liabilities were as follows (in thousands) as of: June 30, 2019 December 31, 2018 Regulatory assets: Loss on reacquired debt (a) $ 1,124 $ 1,259 Deferred taxes on AFUDC (b) 4,955 5,020 Employee benefit plans and related deferred taxes (c) 20,022 19,868 Deferred energy and fuel cost adjustments (b) 22,195 20,334 Deferred taxes on flow through accounting (c) 9,201 8,749 Decommissioning costs (a) 7,168 8,196 Vegetation management (a) 9,214 10,366 Other regulatory assets (a) 1,824 1,940 Total regulatory assets $ 75,703 $ 75,732 Less current regulatory assets (22,339 ) (19,052 ) Regulatory assets, non-current $ 53,364 $ 56,680 Regulatory liabilities: Cost of removal for utility plant (a) $ 54,947 $ 52,366 Employee benefit plan costs and related deferred taxes (c) 7,518 7,518 Excess deferred income taxes (c) 99,417 100,276 TCJA revenue reserve 2,392 2,523 Other regulatory liabilities (c) 222 533 Total regulatory liabilities $ 164,496 $ 163,216 Less current regulatory liabilities (2,392 ) (2,574 ) Regulatory liabilities, non-current $ 162,104 $ 160,642 ____________________ (a) We are allowed a recovery of costs, but we are not allowed a rate of return. (b) In addition to recovery of costs, we are allowed a rate of return. (c) In addition to recovery or repayment of costs, we are allowed a return on a portion of this amount or a reduction in rate base. Regulatory Matters There have been no significant changes to our Regulatory Matters from those previously disclosed in Note 1 of the Notes to the Financial Statements in our 2018 Annual Report on Form 10-K except as reported below. Renewable Ready Service Tariffs and Corriedale Wind Energy Project South Dakota Electric and Wyoming Electric received approvals for the Renewable Ready Service Tariffs and related jointly-filed CPCN to construct the $57 million , 40 MW Corriedale Wind Energy Project. The wind project will be jointly owned by the two electric utilities to deliver renewable energy for large commercial and industrial customers and governmental agencies. The project is expected to be in service in 2020. |
Related-Party Transactions_
Related-Party Transactions: | 6 Months Ended |
Jun. 30, 2019 | |
Related Party Transactions [Abstract] | |
Related-Party Transactions | RELATED-PARTY TRANSACTIONS Dividend to Parent We did not record any dividends for the six months ended June 30, 2019 . We recorded non-cash dividends to our Parent of $26 million and decreased the utility Money pool note receivable by $26 million for the six months ended June 30, 2018 . Receivables and Payables We have accounts receivable and accounts payable balances related to transactions with other BHC subsidiaries. The balances were as follows (in thousands) as of: June 30, 2019 December 31, 2018 Accounts receivable from affiliates $ 5,102 $ 8,119 Accounts payable to affiliates $ 24,737 $ 25,804 Money Pool Notes Receivable and Notes Payable We participate in the Utility Money Pool Agreement (the Agreement). Under the Agreement, we may borrow from the pool; however the Agreement restricts the pool from loaning funds to BHC or to any of BHC’s non-utility subsidiaries. The Agreement does not restrict us from paying dividends to BHC. Borrowings under the Agreement bear interest at the weighted average daily cost of our parent company’s external borrowings as defined under the Agreement, or if there are no external funds outstanding on that date, then the rate will be the daily one-month LIBOR plus 1.0% . At June 30, 2019 , the average cost of borrowing under the Utility Money Pool was 2.78% . We had the following balances with the Utility Money Pool (in thousands) as of: June 30, 2019 December 31, 2018 Money pool notes payable $ 13,071 $ 38,690 Our net interest income (expense) relating to balances with the Utility Money Pool was as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Net interest income (expense) $ (198 ) $ (96 ) $ (471 ) $ (132 ) Notes payable to Parent June 30, 2019 December 31, 2018 Notes payable to Parent (a) $ 25,000 $ — (a) Note bears interest at 4.51% , expires December 31, 2019, and is eligible for annual renewal. Interest payable related to this note was $0.2 million as of June 30, 2019. Other related party activity was as follows (in thousands): Three Months Ended Six Months Ended 2019 2018 2019 2018 Revenue: Energy sold to Cheyenne Light $ 340 $ 501 $ 914 $ 1,204 Rent from electric properties $ 895 $ 908 $ 1,791 $ 1,817 Horizon Point shared facility revenues $ 3,006 $ 2,783 $ 6,013 $ 5,552 Fuel and purchased power : Purchases of coal from WRDC $ 3,216 $ 4,249 $ 7,873 $ 8,316 Purchase of excess energy from Cheyenne Light $ 41 $ 82 $ 173 $ 168 Purchase of renewable wind energy from Cheyenne Light - Happy Jack $ 342 $ 381 $ 877 $ 1,022 Purchase of renewable wind energy from Cheyenne Light - Silver Sage $ 611 $ 696 $ 1,594 $ 1,789 Gas transportation service agreement with Cheyenne Light for firm and interruptible gas transportation $ 75 $ 96 $ 151 $ 192 Operations and maintenance: Corporate support services and fees from Black Hills Service Company (a) $ 9,451 $ 7,604 $ 19,642 $ 15,210 Wygen III ground lease with WRDC $ 247 $ 241 $ 493 $ 481 (a) Increase in 2019 was primarily due to higher outside service expenses and higher employee costs driven by labor and benefits. |
Employee Benefit Plans_
Employee Benefit Plans: | 6 Months Ended |
Jun. 30, 2019 | |
Defined Benefit Plan [Abstract] | |
Employee Benefit Plans | EMPLOYEE BENEFIT PLANS The components of net periodic benefit cost for the Defined Benefit Pension Plan were as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Service cost $ 92 $ 129 $ 183 $ 258 Interest cost 602 549 1,205 1,097 Expected return on plan assets (852 ) (887 ) (1,703 ) (1,773 ) Prior service cost 3 11 5 22 Net loss (gain) 305 516 610 1,032 Net periodic benefit cost $ 150 $ 318 $ 300 $ 636 Defined Benefit Postretirement Healthcare Plan The components of net periodic benefit cost for the Defined Benefit Postretirement Healthcare Plan were as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Service cost $ 37 $ 49 $ 74 $ 97 Interest cost 46 44 93 89 Prior service cost (benefit) (84 ) (84 ) (168 ) (168 ) Net periodic benefit cost $ (1 ) $ 9 $ (1 ) $ 18 Supplemental Non-qualified Defined Benefit Plans The components of net periodic benefit cost for the Supplemental Non-qualified Defined Benefit Plans were as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Interest cost $ 28 $ 27 $ 57 $ 54 Net loss (gain) 17 26 33 52 Net periodic benefit cost $ 45 $ 53 $ 90 $ 106 Contributions Contributions to the Defined Benefit Pension Plan are cash contributions made directly to the Pension Plan Trust account. Contributions to the Postretirement Healthcare and Supplemental Plans are made in the form of benefit payments. Contributions made for 2019 and anticipated contributions for 2019 and 2020 are as follows (in thousands): Contributions Six Months Ended June 30, 2019 Remaining Anticipated Contributions for 2019 Anticipated Contributions for 2020 Defined Benefit Pension Plan $ — $ 1,753 $ 1,841 Defined Benefit Postretirement Healthcare Plan $ 233 $ 233 $ 466 Supplemental Non-qualified Defined Benefit Plans $ 115 $ 115 $ 240 |
Fair Value of Financial Instrum
Fair Value of Financial Instruments: | 6 Months Ended |
Jun. 30, 2019 | |
Fair Value Disclosures [Abstract] | |
Fair Value of Financial Instruments | FAIR VALUE OF FINANCIAL INSTRUMENTS Financial instruments for which the carrying amount did not equal the fair value were as follows (in thousands) as of: June 30, 2019 December 31, 2018 Carrying Amount Fair Value Carrying Amount Fair Value Long-term debt, including current maturities (a) (b) $ 340,105 $ 447,036 $ 340,035 $ 412,894 _________________ (a) Long-term debt is valued based on observable inputs available either directly or indirectly for similar liabilities in active markets and therefore is classified in Level 2 in the fair value hierarchy. (b) Carrying amount of long-term debt is net of deferred financing costs. |
Supplemental Disclosure of Cash
Supplemental Disclosure of Cash Flow Information: | 6 Months Ended |
Jun. 30, 2019 | |
Supplemental Cash Flow Information [Abstract] | |
Supplemental Disclosure of Cash Flow Information | SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION Six Months Ended June 30, 2019 2018 (in thousands) Non-cash investing and financing activities - Property, plant and equipment acquired with accrued liabilities $ 15,316 $ 7,477 Non-cash (decrease) to money pool notes receivable, net $ — $ (26,000 ) Non-cash dividend to Parent $ — $ 26,000 Cash (paid) refunded during the period for - Interest (net of amounts capitalized) $ (11,342 ) $ (10,930 ) |
Commitment and Contingencies_
Commitment and Contingencies: | 6 Months Ended |
Jun. 30, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | COMMITMENTS AND CONTINGENCIES There have been no significant changes to commitments and contingencies from those previously disclosed in Note 11 of our Notes to the Financial Statements in our 2018 Annual Report on Form 10-K. |
Leases_
Leases: | 6 Months Ended |
Jun. 30, 2019 | |
Leases [Abstract] | |
Leases | LEASES We have a ground lease for the Wygen III generating facility with an affiliate and communication tower site and operation center facility leases with third parties. Our leases have remaining terms ranging from less than one year to 30 years . The components of lease expense were as follows (in thousands): Income Statement Location Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 Operating lease cost Operations and maintenance $ 228 $ 456 Variable lease cost Operations and maintenance 39 82 Total lease cost $ 267 $ 538 Supplemental balance sheet information related to leases was as follows (in thousands): Balance Sheet Location As of June 30, 2019 Assets: Operating lease assets Other assets, non-current $ 14,244 Total lease assets $ 14,244 Liabilities: Current: Operating leases Accrued liabilities $ 268 Noncurrent: Operating leases Other deferred credits and other liabilities 13,993 Total lease liabilities $ 14,261 Supplemental cash flow information related to leases was as follows (in thousands): Six Months Ended June 30, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 451 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ — As of June 30, 2019 Weighted average remaining lease term (years): Operating leases 30 years Weighted average discount rate: Operating leases 4.4 % Scheduled maturities of operating lease liabilities for future years were as follows (in thousands): Total 2019 (a) $ 463 2020 856 2021 856 2022 856 2023 853 Thereafter 21,947 Total lease payments $ 25,831 Less imputed interest 11,570 Present value of lease liabilities $ 14,261 (a) Includes lease obligations for the remaining six months of 2019 . |
Management's Statement (Policie
Management's Statement (Policies) | 6 Months Ended |
Jun. 30, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Recently Adopted Accounting Standards | Recently Adopted Accounting Standards Leases, ASU 2016-02 In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) to increase transparency and comparability among organizations by requiring the recognition of right-of-use assets and lease liabilities on the balance sheet for most leases, whereas previously only financing-type lease liabilities (capital leases) were recognized on the balance sheet. Under the new standard, disclosures are required to meet the objective of enabling users of financial statements to assess the amount, timing and uncertainty of cash flows arising from leases. We adopted the standard effective January 1, 2019. We elected the option to not recast comparative periods presented with transitioning to the new lease standard and will report these comparative periods as presented under previous lease guidance. In addition, we elected the package of practical expedients permitted under the transition guidance with the new standard, which among other things, allowed us to carry forward the historical lease classification. We also elected the practical expedient related to land easements, allowing us to carry forward our accounting treatment of existing land easement agreements. Adoption of the new standard resulted in the recording of an operating lease right-of-use asset and an off-setting operating lease obligation liability of $14 million |
Revenue Recognition | Revenue Recognition As of January 1, 2018, we adopted ASU 2014-09, Revenue from Contracts with Customers (Topic 606) , and its related amendments (collectively known as ASC 606). Revenue is recognized in an amount that reflects the consideration we expect to receive in exchange for goods or services, when control of the promised goods or services is transferred to our customers. The following table depicts the disaggregation of revenue, from contracts with customers by customer type and timing of revenue recognition for the three and six months ended June 30, 2019 and 2018 . Sales tax and other similar taxes are excluded from revenues. Three Months Ended June 30, 2019 Three Months Ended June 30, 2018 Six Months Ended June 30, 2019 Six Months Ended June 30, 2018 (in thousands) Customer types: Retail $ 46,809 $ 46,525 $ 99,885 $ 97,166 Wholesale 6,780 8,191 15,123 17,241 Market - off-system sales 2,393 3,449 7,063 5,724 Transmission/Other 13,083 12,372 25,914 24,090 Revenue from contracts with customers 69,065 70,537 147,985 144,221 Other revenues 181 139 302 270 Total revenues $ 69,246 $ 70,676 $ 148,287 $ 144,491 Timing of revenue recognition: Services transferred over time $ 69,065 $ 70,537 $ 147,985 $ 144,221 Revenue from contracts with customers $ 69,065 $ 70,537 $ 147,985 $ 144,221 Contract Balances The nature of our primary revenue contracts provides an unconditional right to consideration upon service delivery; therefore, no customer contract assets or liabilities exist. The unconditional right to consideration is represented by the balance in our Accounts receivable and is further discussed in Note 3. We do not typically incur costs that would be capitalized, to obtain or fulfill a revenue contract. |
Revenue (Tables)
Revenue (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Disaggregation of Revenue | Three Months Ended June 30, 2019 Three Months Ended June 30, 2018 Six Months Ended June 30, 2019 Six Months Ended June 30, 2018 (in thousands) Customer types: Retail $ 46,809 $ 46,525 $ 99,885 $ 97,166 Wholesale 6,780 8,191 15,123 17,241 Market - off-system sales 2,393 3,449 7,063 5,724 Transmission/Other 13,083 12,372 25,914 24,090 Revenue from contracts with customers 69,065 70,537 147,985 144,221 Other revenues 181 139 302 270 Total revenues $ 69,246 $ 70,676 $ 148,287 $ 144,491 Timing of revenue recognition: Services transferred over time $ 69,065 $ 70,537 $ 147,985 $ 144,221 Revenue from contracts with customers $ 69,065 $ 70,537 $ 147,985 $ 144,221 |
Accounts Receivable (Tables)
Accounts Receivable (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Accounts Receivable, Net [Abstract] | |
Schedule of Accounts Receivable | Following is a summary of Accounts receivable, net included in the accompanying Condensed Balance Sheets (in thousands) as of: June 30, 2019 December 31, 2018 Accounts receivable trade $ 15,972 $ 16,236 Unbilled revenues 10,110 12,333 Allowance for doubtful accounts (200 ) (138 ) Accounts receivable, net $ 25,882 $ 28,431 |
Regulatory Accounting (Tables)
Regulatory Accounting (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Regulated Operations [Abstract] | |
Schedule of Regulatory Assets | Our regulatory assets and liabilities were as follows (in thousands) as of: June 30, 2019 December 31, 2018 Regulatory assets: Loss on reacquired debt (a) $ 1,124 $ 1,259 Deferred taxes on AFUDC (b) 4,955 5,020 Employee benefit plans and related deferred taxes (c) 20,022 19,868 Deferred energy and fuel cost adjustments (b) 22,195 20,334 Deferred taxes on flow through accounting (c) 9,201 8,749 Decommissioning costs (a) 7,168 8,196 Vegetation management (a) 9,214 10,366 Other regulatory assets (a) 1,824 1,940 Total regulatory assets $ 75,703 $ 75,732 Less current regulatory assets (22,339 ) (19,052 ) Regulatory assets, non-current $ 53,364 $ 56,680 Regulatory liabilities: Cost of removal for utility plant (a) $ 54,947 $ 52,366 Employee benefit plan costs and related deferred taxes (c) 7,518 7,518 Excess deferred income taxes (c) 99,417 100,276 TCJA revenue reserve 2,392 2,523 Other regulatory liabilities (c) 222 533 Total regulatory liabilities $ 164,496 $ 163,216 Less current regulatory liabilities (2,392 ) (2,574 ) Regulatory liabilities, non-current $ 162,104 $ 160,642 ____________________ (a) We are allowed a recovery of costs, but we are not allowed a rate of return. (b) In addition to recovery of costs, we are allowed a rate of return. (c) In addition to recovery or repayment of costs, we are allowed a return on a portion of this amount or a reduction in rate base. |
Schedule of Regulatory Liabilities | Regulatory liabilities: Cost of removal for utility plant (a) $ 54,947 $ 52,366 Employee benefit plan costs and related deferred taxes (c) 7,518 7,518 Excess deferred income taxes (c) 99,417 100,276 TCJA revenue reserve 2,392 2,523 Other regulatory liabilities (c) 222 533 Total regulatory liabilities $ 164,496 $ 163,216 Less current regulatory liabilities (2,392 ) (2,574 ) Regulatory liabilities, non-current $ 162,104 $ 160,642 ____________________ (a) We are allowed a recovery of costs, but we are not allowed a rate of return. (b) In addition to recovery of costs, we are allowed a rate of return. (c) In addition to recovery or repayment of costs, we are allowed a return on a portion of this amount or a reduction in rate base. |
Related-Party Transactions (Tab
Related-Party Transactions (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Related Party Transactions [Abstract] | |
Schedule of Related Party Accounts Receivable and Payable | The balances were as follows (in thousands) as of: June 30, 2019 December 31, 2018 Accounts receivable from affiliates $ 5,102 $ 8,119 Accounts payable to affiliates $ 24,737 $ 25,804 |
Schedule of Related Party Notes | We had the following balances with the Utility Money Pool (in thousands) as of: June 30, 2019 December 31, 2018 Money pool notes payable $ 13,071 $ 38,690 |
Schedule of Related Party Interest Income Expense | Our net interest income (expense) relating to balances with the Utility Money Pool was as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Net interest income (expense) $ (198 ) $ (96 ) $ (471 ) $ (132 ) |
Schedule of Related Party Notes Payable to Parent Company [Table Text Block] | Notes payable to Parent June 30, 2019 December 31, 2018 Notes payable to Parent (a) $ 25,000 $ — (a) Note bears interest at 4.51% , expires December 31, 2019, and is eligible for annual renewal. Interest payable related to this note was $0.2 million as of June 30, 2019. |
Schedule of Revenues and Purchases from Related Parties | Other related party activity was as follows (in thousands): Three Months Ended Six Months Ended 2019 2018 2019 2018 Revenue: Energy sold to Cheyenne Light $ 340 $ 501 $ 914 $ 1,204 Rent from electric properties $ 895 $ 908 $ 1,791 $ 1,817 Horizon Point shared facility revenues $ 3,006 $ 2,783 $ 6,013 $ 5,552 Fuel and purchased power : Purchases of coal from WRDC $ 3,216 $ 4,249 $ 7,873 $ 8,316 Purchase of excess energy from Cheyenne Light $ 41 $ 82 $ 173 $ 168 Purchase of renewable wind energy from Cheyenne Light - Happy Jack $ 342 $ 381 $ 877 $ 1,022 Purchase of renewable wind energy from Cheyenne Light - Silver Sage $ 611 $ 696 $ 1,594 $ 1,789 Gas transportation service agreement with Cheyenne Light for firm and interruptible gas transportation $ 75 $ 96 $ 151 $ 192 Operations and maintenance: Corporate support services and fees from Black Hills Service Company (a) $ 9,451 $ 7,604 $ 19,642 $ 15,210 Wygen III ground lease with WRDC $ 247 $ 241 $ 493 $ 481 (a) Increase in 2019 was primarily due to higher outside service expenses and higher employee costs driven by labor and benefits. |
Employee Benefit Plans (Tables)
Employee Benefit Plans (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Defined Benefit Plan [Abstract] | |
Schedule of Net Benefit Costs | The components of net periodic benefit cost for the Defined Benefit Pension Plan were as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Service cost $ 92 $ 129 $ 183 $ 258 Interest cost 602 549 1,205 1,097 Expected return on plan assets (852 ) (887 ) (1,703 ) (1,773 ) Prior service cost 3 11 5 22 Net loss (gain) 305 516 610 1,032 Net periodic benefit cost $ 150 $ 318 $ 300 $ 636 Defined Benefit Postretirement Healthcare Plan The components of net periodic benefit cost for the Defined Benefit Postretirement Healthcare Plan were as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Service cost $ 37 $ 49 $ 74 $ 97 Interest cost 46 44 93 89 Prior service cost (benefit) (84 ) (84 ) (168 ) (168 ) Net periodic benefit cost $ (1 ) $ 9 $ (1 ) $ 18 Supplemental Non-qualified Defined Benefit Plans The components of net periodic benefit cost for the Supplemental Non-qualified Defined Benefit Plans were as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Interest cost $ 28 $ 27 $ 57 $ 54 Net loss (gain) 17 26 33 52 Net periodic benefit cost $ 45 $ 53 $ 90 $ 106 |
Schedule of Defined Benefit Plans Contributions | Contributions made for 2019 and anticipated contributions for 2019 and 2020 are as follows (in thousands): Contributions Six Months Ended June 30, 2019 Remaining Anticipated Contributions for 2019 Anticipated Contributions for 2020 Defined Benefit Pension Plan $ — $ 1,753 $ 1,841 Defined Benefit Postretirement Healthcare Plan $ 233 $ 233 $ 466 Supplemental Non-qualified Defined Benefit Plans $ 115 $ 115 $ 240 |
Fair Value of Financial Instr_2
Fair Value of Financial Instruments (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Fair Value Disclosures [Abstract] | |
Schedule of Fair Value of Financial Instruments | Financial instruments for which the carrying amount did not equal the fair value were as follows (in thousands) as of: June 30, 2019 December 31, 2018 Carrying Amount Fair Value Carrying Amount Fair Value Long-term debt, including current maturities (a) (b) $ 340,105 $ 447,036 $ 340,035 $ 412,894 _________________ (a) Long-term debt is valued based on observable inputs available either directly or indirectly for similar liabilities in active markets and therefore is classified in Level 2 in the fair value hierarchy. (b) Carrying amount of long-term debt is net of deferred financing costs. |
Supplemental Disclosure of Ca_2
Supplemental Disclosure of Cash Flow Information (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Supplemental Cash Flow Information [Abstract] | |
Schedule of Cash Flow, Supplemental Disclosures | Six Months Ended June 30, 2019 2018 (in thousands) Non-cash investing and financing activities - Property, plant and equipment acquired with accrued liabilities $ 15,316 $ 7,477 Non-cash (decrease) to money pool notes receivable, net $ — $ (26,000 ) Non-cash dividend to Parent $ — $ 26,000 Cash (paid) refunded during the period for - Interest (net of amounts capitalized) $ (11,342 ) $ (10,930 ) |
Leases (Tables)
Leases (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Leases [Abstract] | |
Lease, Cost | The components of lease expense were as follows (in thousands): Income Statement Location Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 Operating lease cost Operations and maintenance $ 228 $ 456 Variable lease cost Operations and maintenance 39 82 Total lease cost $ 267 $ 538 |
Lessee Supplemental Balance Sheet Information Related to Leases | Supplemental balance sheet information related to leases was as follows (in thousands): Balance Sheet Location As of June 30, 2019 Assets: Operating lease assets Other assets, non-current $ 14,244 Total lease assets $ 14,244 Liabilities: Current: Operating leases Accrued liabilities $ 268 Noncurrent: Operating leases Other deferred credits and other liabilities 13,993 Total lease liabilities $ 14,261 |
Lessee Supplemental Cash Flow Information Related to Leases | Supplemental cash flow information related to leases was as follows (in thousands): Six Months Ended June 30, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 451 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ — |
Lessee Supplemental Weighted Average Schedule Related to Leases | As of June 30, 2019 Weighted average remaining lease term (years): Operating leases 30 years Weighted average discount rate: Operating leases 4.4 % |
Lessee, Operating Lease, Liability, Maturity | Scheduled maturities of operating lease liabilities for future years were as follows (in thousands): Total 2019 (a) $ 463 2020 856 2021 856 2022 856 2023 853 Thereafter 21,947 Total lease payments $ 25,831 Less imputed interest 11,570 Present value of lease liabilities $ 14,261 (a) Includes lease obligations for the remaining six months of 2019 . |
Management Statement (Details)
Management Statement (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Jan. 01, 2019 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Operating lease assets | $ 14,244 | $ 14,000 |
Operating Lease, Liability | $ 14,261 | $ 14,000 |
Revenue (Details)
Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | $ 69,065 | $ 70,537 | $ 147,985 | $ 144,221 |
Other revenues | 181 | 139 | 302 | 270 |
Revenues | 69,246 | 70,676 | 148,287 | 144,491 |
Services transferred over time | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 69,065 | 70,537 | 147,985 | 144,221 |
Retail | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 46,809 | 46,525 | 99,885 | 97,166 |
Wholesale | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 6,780 | 8,191 | 15,123 | 17,241 |
Market - off-system sales | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 2,393 | 3,449 | 7,063 | 5,724 |
Transmission/Other | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | $ 13,083 | $ 12,372 | $ 25,914 | $ 24,090 |
Accounts Receivable (Details)
Accounts Receivable (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Accounts Receivable, Net [Abstract] | ||
Accounts receivable trade | $ 15,972 | $ 16,236 |
Unbilled revenues | 10,110 | 12,333 |
Allowance for doubtful accounts | (200) | (138) |
Accounts receivable, net | $ 25,882 | $ 28,431 |
Regulatory Accounting_ Regulato
Regulatory Accounting: Regulatory Assets (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Regulatory Assets [Line Items] | ||
Total regulatory assets | $ 75,703 | $ 75,732 |
Less current regulatory assets | (22,339) | (19,052) |
Regulatory assets, non-current | 53,364 | 56,680 |
Loss on reacquired debt | ||
Regulatory Assets [Line Items] | ||
Total regulatory assets | 1,124 | 1,259 |
Deferred taxes on AFUDC | ||
Regulatory Assets [Line Items] | ||
Total regulatory assets | 4,955 | 5,020 |
Employee benefit plans | ||
Regulatory Assets [Line Items] | ||
Total regulatory assets | 20,022 | 19,868 |
Deferred energy and fuel cost adjustments - current | ||
Regulatory Assets [Line Items] | ||
Total regulatory assets | 22,195 | 20,334 |
Deferred taxes on flow through accounting | ||
Regulatory Assets [Line Items] | ||
Total regulatory assets | 9,201 | 8,749 |
Decommissioning costs | ||
Regulatory Assets [Line Items] | ||
Total regulatory assets | 7,168 | 8,196 |
Vegetation management | ||
Regulatory Assets [Line Items] | ||
Total regulatory assets | 9,214 | 10,366 |
Other regulatory assets | ||
Regulatory Assets [Line Items] | ||
Total regulatory assets | $ 1,824 | $ 1,940 |
Regulatory Accounting_ Regula_2
Regulatory Accounting: Regulatory Liabilities (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Regulatory Liabilities [Line Items] | ||
Total regulatory liabilities | $ 164,496 | $ 163,216 |
Less current regulatory liabilities | (2,392) | (2,574) |
Regulatory liabilities, non-current | 162,104 | 160,642 |
Cost of removal for utility plant | ||
Regulatory Liabilities [Line Items] | ||
Total regulatory liabilities | 54,947 | 52,366 |
Employee benefit plan costs and related deferred taxes | ||
Regulatory Liabilities [Line Items] | ||
Total regulatory liabilities | 7,518 | 7,518 |
Excess deferred income taxes | ||
Regulatory Liabilities [Line Items] | ||
Total regulatory liabilities | 99,417 | 100,276 |
TCJA revenue reserve | ||
Regulatory Liabilities [Line Items] | ||
Total regulatory liabilities | 2,392 | 2,523 |
Other regulatory liabilities | ||
Regulatory Liabilities [Line Items] | ||
Total regulatory liabilities | $ 222 | $ 533 |
Regulatory Accounting_ Rate Rev
Regulatory Accounting: Rate Review (Details) - Corriedale Wind Project - Wyoming Public Service Commission (WPSC) and South Dakota Public Utilities Commission (SDPUC) - South Dakota Electric and Wyoming Electric $ in Millions | 6 Months Ended |
Jun. 30, 2019USD ($)utilityMW | |
Public Utilities, General Disclosures [Line Items] | |
Public Utilities, Property, Plant and Equipment, Cost Of Plant Investment | $ | $ 57 |
Utility Plant, Megawatt Capacity | MW | 40 |
Public Utilities, Number of Electric Utilities Jointly Owning Wind Project | utility | 2 |
Related-Party Transactions (Det
Related-Party Transactions (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2019 | Jun. 30, 2018 | Mar. 31, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Related Party Transaction [Line Items] | ||||||
Non-cash dividend to Parent | $ 10,000 | $ 16,000 | ||||
Accounts receivable from affiliates | $ 5,102 | $ 5,102 | $ 8,119 | |||
Accounts payable to affiliates | 24,737 | 24,737 | 25,804 | |||
Money pool notes payable | 13,071 | 13,071 | 38,690 | |||
Notes payable to Parent | 25,000 | 25,000 | 0 | |||
Parent | ||||||
Related Party Transaction [Line Items] | ||||||
Non-cash dividend to Parent | $ 0 | $ 26,000 | ||||
Commitment fee percentage | 1.00% | |||||
Related Party, Interest Rate | 4.51% | |||||
Notes payable to Parent | 25,000 | $ 25,000 | $ 0 | |||
Interest Payable Related Party | 200 | 200 | ||||
Subsidiary of Common Parent | ||||||
Related Party Transaction [Line Items] | ||||||
Non-cash decrease to money pool notes receivable, net | 0 | 26,000 | ||||
Subsidiary of Common Parent | Energy sold to Cheyenne Light | ||||||
Related Party Transaction [Line Items] | ||||||
Revenue | 340 | 501 | 914 | 1,204 | ||
Subsidiary of Common Parent | Rent from electric properties | ||||||
Related Party Transaction [Line Items] | ||||||
Revenue | 895 | 908 | 1,791 | 1,817 | ||
Subsidiary of Common Parent | Horizon Point shared facility revenues | ||||||
Related Party Transaction [Line Items] | ||||||
Revenue | 3,006 | 2,783 | 6,013 | 5,552 | ||
Subsidiary of Common Parent | Purchases of coal from WRDC | ||||||
Related Party Transaction [Line Items] | ||||||
Fuel and purchased power | 3,216 | 4,249 | 7,873 | 8,316 | ||
Subsidiary of Common Parent | Purchase of excess energy from Cheyenne Light | ||||||
Related Party Transaction [Line Items] | ||||||
Fuel and purchased power | 41 | 82 | 173 | 168 | ||
Subsidiary of Common Parent | Purchase of renewable wind energy from Cheyenne Light - Happy Jack | ||||||
Related Party Transaction [Line Items] | ||||||
Fuel and purchased power | 342 | 381 | 877 | 1,022 | ||
Subsidiary of Common Parent | Purchase of renewable wind energy from Cheyenne Light - Silver Sage | ||||||
Related Party Transaction [Line Items] | ||||||
Fuel and purchased power | 611 | 696 | 1,594 | 1,789 | ||
Subsidiary of Common Parent | Gas transportation service agreement with Cheyenne Light for firm and interruptible gas transportation | ||||||
Related Party Transaction [Line Items] | ||||||
Fuel and purchased power | 75 | 96 | 151 | 192 | ||
Subsidiary of Common Parent | Corporate support services and fees from Black Hills Service Company | ||||||
Related Party Transaction [Line Items] | ||||||
Fuel and purchased power | 9,451 | 7,604 | 19,642 | 15,210 | ||
Subsidiary of Common Parent | Ground Lease with Wygen III | ||||||
Related Party Transaction [Line Items] | ||||||
Fuel and purchased power | 247 | 241 | $ 493 | 481 | ||
Utility Money Pool | ||||||
Related Party Transaction [Line Items] | ||||||
Related Party, Interest Rate | 2.78% | |||||
Net interest income (expense) | $ (198) | $ (96) | $ (471) | $ (132) |
Employee Benefit Plans (Details
Employee Benefit Plans (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Defined Benefit Pension Plan | ||||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | ||||
Service cost | $ 92 | $ 129 | $ 183 | $ 258 |
Interest cost | 602 | 549 | 1,205 | 1,097 |
Expected return on plan assets | (852) | (887) | (1,703) | (1,773) |
Prior service cost (benefit) | 3 | 11 | 5 | 22 |
Net loss (gain) | 305 | 516 | 610 | 1,032 |
Net periodic benefit cost | 150 | 318 | 300 | 636 |
Payment for Pension and Other Postretirement Benefits [Abstract] | ||||
Contributions Six Months Ended June 30, 2019 | 0 | |||
Remaining Anticipated Contributions for 2019 | 1,753 | 1,753 | ||
Anticipated Contributions for 2020 | 1,841 | 1,841 | ||
Defined Benefit Postretirement Healthcare Plan | ||||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | ||||
Service cost | 37 | 49 | 74 | 97 |
Interest cost | 46 | 44 | 93 | 89 |
Prior service cost (benefit) | (84) | (84) | (168) | (168) |
Net periodic benefit cost | (1) | 9 | (1) | 18 |
Payment for Pension and Other Postretirement Benefits [Abstract] | ||||
Contributions Six Months Ended June 30, 2019 | 233 | |||
Remaining Anticipated Contributions for 2019 | 233 | 233 | ||
Anticipated Contributions for 2020 | 466 | 466 | ||
Supplemental Non-qualified Defined Benefit Plans | ||||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | ||||
Interest cost | 28 | 27 | 57 | 54 |
Net loss (gain) | 17 | 26 | 33 | 52 |
Net periodic benefit cost | 45 | $ 53 | 90 | $ 106 |
Payment for Pension and Other Postretirement Benefits [Abstract] | ||||
Contributions Six Months Ended June 30, 2019 | 115 | |||
Remaining Anticipated Contributions for 2019 | 115 | 115 | ||
Anticipated Contributions for 2020 | $ 240 | $ 240 |
Fair Value of Financial Instr_3
Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Carrying Amount | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, including current maturities, carrying amount | $ 340,105 | $ 340,035 |
Fair Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, including current maturities, fair value | $ 447,036 | $ 412,894 |
Supplemental Disclosure of Ca_3
Supplemental Disclosure of Cash Flow Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Mar. 31, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Noncash Investing and Financing Items [Abstract] | ||||
Property, plant and equipment acquired with accrued liabilities | $ 15,316 | $ 7,477 | ||
Non-cash dividend to Parent | $ 10,000 | $ 16,000 | ||
Interest and Income Taxes Paid Net [Abstract] | ||||
Interest (net of amounts capitalized) | (11,342) | (10,930) | ||
Subsidiary of Common Parent | ||||
Noncash Investing and Financing Items [Abstract] | ||||
Non-cash (decrease) to money pool notes receivable, net | 0 | (26,000) | ||
Parent | ||||
Noncash Investing and Financing Items [Abstract] | ||||
Non-cash dividend to Parent | $ 0 | $ 26,000 |
Leases (Details)
Leases (Details) | Jun. 30, 2019 |
Minimum | |
Lessee, Lease, Description [Line Items] | |
Lessee, Operating Lease, Term of Contract | 1 year |
Maximum | |
Lessee, Lease, Description [Line Items] | |
Lessee, Operating Lease, Term of Contract | 30 years |
Leases_ Lease Costs (Details)
Leases: Lease Costs (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended |
Jun. 30, 2019 | Jun. 30, 2019 | |
Leases [Abstract] | ||
Operating lease cost | $ 228 | $ 456 |
Variable lease cost | 39 | 82 |
Total lease cost | $ 267 | $ 538 |
Leases_ Supplemental Balance Sh
Leases: Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Jan. 01, 2019 |
Leases [Abstract] | ||
Operating lease assets | $ 14,244 | $ 14,000 |
Operating leases, current | 268 | |
Operating leases, noncurrent | 13,993 | |
Total lease liabilities | $ 14,261 | $ 14,000 |
Leases_ Supplemental Cash Flow
Leases: Supplemental Cash Flow Information (Details) $ in Thousands | 6 Months Ended |
Jun. 30, 2019USD ($) | |
Leases [Abstract] | |
Operating cash flows from operating leases | $ 451 |
Right of use assets obtained in exchange for lease obligations | $ 0 |
Leases_ Weighted Average Inform
Leases: Weighted Average Information (Details) | Jun. 30, 2019 |
Leases [Abstract] | |
Weighted average remaining lease term (years) | 30 years |
Weighted average discount rate | 4.40% |
Leases_ Future Minimum Payments
Leases: Future Minimum Payments (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Jan. 01, 2019 |
Leases [Abstract] | ||
2019 | $ 463 | |
2020 | 856 | |
2021 | 856 | |
2022 | 856 | |
2023 | 853 | |
Thereafter | 21,947 | |
Total lease payments | 25,831 | |
Less imputed interest | 11,570 | |
Present value of lease liabilities | $ 14,261 | $ 14,000 |