$OTTR
Otter Tail Corp

2024 Q4 Form 10-Q Financial Statement

#000146659324000140 Filed on November 07, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3 2023 Q3
Revenue $338.0M $358.1M
YoY Change -5.59% -6.72%
Cost Of Revenue $122.2M $129.2M
YoY Change -5.43% -35.1%
Gross Profit $215.9M $228.9M
YoY Change -5.7% 23.88%
Gross Profit Margin 63.86% 63.93%
Selling, General & Admin $18.83M $15.86M
YoY Change 18.7%
% of Gross Profit 8.72% 6.93%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $27.05M $24.55M
YoY Change 10.2% 8.06%
% of Gross Profit 12.53% 10.72%
Operating Expenses $108.3M $107.7M
YoY Change 0.57% 56.88%
Operating Profit $107.5M $121.1M
YoY Change -11.21% 4.29%
Interest Expense -$11.17M -$9.200M
YoY Change 21.45% -0.64%
% of Operating Profit -10.39% -7.6%
Other Income/Expense, Net $7.788M $2.471M
YoY Change 215.18% -1520.11%
Pretax Income $104.2M $116.7M
YoY Change -10.75% 9.32%
Income Tax $18.68M $24.73M
% Of Pretax Income 17.93% 21.19%
Net Earnings $85.48M $91.97M
YoY Change -7.06% 9.18%
Net Earnings / Revenue 25.29% 25.69%
Basic Earnings Per Share $2.04 $2.21
Diluted Earnings Per Share $2.03 $2.19
COMMON SHARES
Basic Shares Outstanding 41.83M shares 41.83M shares 41.71M shares
Diluted Shares Outstanding 42.08M shares 42.06M shares

Balance Sheet

Concept 2024 Q4 2024 Q3 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $280.0M $189.2M
YoY Change 48.0% 159.22%
Cash & Equivalents $280.0M $189.2M
Short-Term Investments $616.0K
Other Short-Term Assets $30.79M $15.31M
YoY Change 101.05% -12.05%
Inventory $153.2M $142.0M
Prepaid Expenses
Receivables $186.3M $169.8M
Other Receivables $0.00 $7.700M
Total Short-Term Assets $650.3M $556.8M
YoY Change 16.81% 20.9%
LONG-TERM ASSETS
Property, Plant & Equipment $2.605B $2.387B
YoY Change 9.12% 9.17%
Goodwill $37.57M $37.57M
YoY Change 0.0% 0.0%
Intangibles $6.018M $7.118M
YoY Change -15.45% -13.39%
Long-Term Investments $121.4M $59.30M
YoY Change 104.76% 11.96%
Other Assets $146.5M $49.96M
YoY Change 193.35% 41.04%
Total Long-Term Assets $2.916B $2.631B
YoY Change 10.86% 7.93%
TOTAL ASSETS
Total Short-Term Assets $650.3M $556.8M
Total Long-Term Assets $2.916B $2.631B
Total Assets $3.567B $3.187B
YoY Change 11.9% 9.99%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $88.89M $103.1M
YoY Change -13.8% -15.47%
Accrued Expenses $31.32M $32.20M
YoY Change -2.73% -55.96%
Deferred Revenue
YoY Change
Short-Term Debt $67.40M $51.50M
YoY Change 30.89%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $299.6M $310.0M
YoY Change -3.37% 28.19%
LONG-TERM LIABILITIES
Long-Term Debt $943.7M $824.0M
YoY Change 14.52% 0.03%
Other Long-Term Liabilities $424.4M $65.37M
YoY Change 549.27% 7.27%
Total Long-Term Liabilities $1.368B $650.5M
YoY Change 110.31% 0.35%
TOTAL LIABILITIES
Total Short-Term Liabilities $299.6M $310.0M
Total Long-Term Liabilities $1.368B $650.5M
Total Liabilities $1.933B $960.5M
YoY Change 101.28% 7.91%
SHAREHOLDERS EQUITY
Retained Earnings $994.5M $766.8M
YoY Change 29.68% 36.84%
Common Stock $636.9M $634.9M
YoY Change 0.31% 0.68%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.633B $1.403B
YoY Change
Total Liabilities & Shareholders Equity $3.567B $3.187B
YoY Change 11.9% 9.99%

Cashflow Statement

Concept 2024 Q4 2024 Q3 2023 Q3
OPERATING ACTIVITIES
Net Income $85.48M $91.97M
YoY Change -7.06% 9.18%
Depreciation, Depletion And Amortization $27.05M $24.55M
YoY Change 10.2% 8.06%
Cash From Operating Activities $99.31M $134.0M
YoY Change -25.89% 19.28%
INVESTING ACTIVITIES
Capital Expenditures $84.22M $78.30M
YoY Change 7.56% -249.32%
Acquisitions
YoY Change
Other Investing Activities $121.0K -$100.0K
YoY Change -221.0% -91.84%
Cash From Investing Activities -$84.10M -$78.40M
YoY Change 7.27% 46.1%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 34.14M -17.00M
YoY Change -300.79% -64.35%
NET CHANGE
Cash From Operating Activities 99.31M 134.0M
Cash From Investing Activities -84.10M -78.40M
Cash From Financing Activities 34.14M -17.00M
Net Change In Cash 49.35M 38.60M
YoY Change 27.84% 250.97%
FREE CASH FLOW
Cash From Operating Activities $99.31M $134.0M
Capital Expenditures $84.22M $78.30M
Free Cash Flow $15.09M $55.70M
YoY Change -72.9% -66.2%

Facts In Submission

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dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
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dei Entity Address Postal Zip Code
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dei City Area Code
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dei Local Phone Number
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dei Security12b Title
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Common Shares, par value $5.00 per share
dei Trading Symbol
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dei Security Exchange Name
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2576994000 usd
CY2023Q4 us-gaap Regulatory Liability Current
RegulatoryLiabilityCurrent
25408000 usd
CY2024Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
39149000 usd
CY2024Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
18829000 usd
CY2023Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
15863000 usd
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
55896000 usd
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
51433000 usd
CY2024Q3 us-gaap Interest Expense Nonoperating
InterestExpenseNonoperating
11173000 usd
CY2023Q3 us-gaap Interest Expense Nonoperating
InterestExpenseNonoperating
9175000 usd
us-gaap Interest Expense Nonoperating
InterestExpenseNonoperating
31225000 usd
us-gaap Interest Expense Nonoperating
InterestExpenseNonoperating
28285000 usd
us-gaap Net Income Loss
NetIncomeLoss
246812000 usd
CY2024Q3 us-gaap Other Comprehensive Income Defined Benefit Plans Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansTaxPortionAttributableToParent
11000 usd
CY2023Q3 us-gaap Other Comprehensive Income Defined Benefit Plans Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansTaxPortionAttributableToParent
-108000 usd
us-gaap Other Comprehensive Income Defined Benefit Plans Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansTaxPortionAttributableToParent
47000 usd
us-gaap Other Comprehensive Income Defined Benefit Plans Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansTaxPortionAttributableToParent
-90000 usd
CY2024Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
86695000 usd
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2024
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Entity Registrant Name
EntityRegistrantName
OTTER TAIL CORPORATION
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
27-0383995
dei Entity Address Address Line1
EntityAddressAddressLine1
215 South Cascade Street
dei Entity Address Address Line2
EntityAddressAddressLine2
Box 496
dei Entity Address City Or Town
EntityAddressCityOrTown
Fergus Falls
dei Entity Address State Or Province
EntityAddressStateOrProvince
MN
CY2023Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
81422000 usd
CY2024Q3 us-gaap Accounts Payable Current
AccountsPayableCurrent
88885000 usd
CY2023Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
94428000 usd
CY2024Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
31320000 usd
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
38134000 usd
CY2023Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
43775000 usd
CY2023Q4 us-gaap Liabilities Current
LiabilitiesCurrent
309757000 usd
CY2024Q3 us-gaap Defined Benefit Pension Plan Liabilities Noncurrent
DefinedBenefitPensionPlanLiabilitiesNoncurrent
32388000 usd
CY2023Q4 us-gaap Defined Benefit Pension Plan Liabilities Noncurrent
DefinedBenefitPensionPlanLiabilitiesNoncurrent
33101000 usd
CY2024Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
338033000 usd
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
358056000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1027437000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1034853000 usd
CY2024Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
5421000 usd
CY2023Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
2471000 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
14491000 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
7841000 usd
CY2024Q3 us-gaap Income Loss Attributable To Parent
IncomeLossAttributableToParent
104156000 usd
CY2023Q3 us-gaap Income Loss Attributable To Parent
IncomeLossAttributableToParent
116701000 usd
us-gaap Income Loss Attributable To Parent
IncomeLossAttributableToParent
303889000 usd
us-gaap Income Loss Attributable To Parent
IncomeLossAttributableToParent
294517000 usd
CY2024Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
18677000 usd
CY2023Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
24727000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
57077000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
58093000 usd
CY2024Q3 us-gaap Net Income Loss
NetIncomeLoss
85479000 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
91974000 usd
CY2024Q3 us-gaap Net Income Loss
NetIncomeLoss
85479000 usd
CY2024Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
1216000 usd
CY2024Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1259000 usd
CY2024Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.4675
CY2024Q3 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
19571000 usd
CY2024Q3 us-gaap Stockholders Equity
StockholdersEquity
1633331000 usd
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
1328439000 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
91974000 usd
CY2023Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
293000 usd
CY2023Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
491000 usd
CY2023Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.4375
CY2023Q3 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
18268000 usd
CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
1402929000 usd
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
-6457000 usd
ottr Stock Issued During Period Value Dividend Reinvestment And Employee Stock Purchase Plans
StockIssuedDuringPeriodValueDividendReinvestmentAndEmployeeStockPurchasePlans
-250000 usd
us-gaap Net Income Loss
NetIncomeLoss
246812000 usd
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
831000 usd
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
8082000 usd
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.4025
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
58693000 usd
CY2024Q3 us-gaap Stockholders Equity
StockholdersEquity
1633331000 usd
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
-3088000 usd
ottr Stock Issued During Period Value Dividend Reinvestment And Employee Stock Purchase Plans
StockIssuedDuringPeriodValueDividendReinvestmentAndEmployeeStockPurchasePlans
-166000 usd
us-gaap Net Income Loss
NetIncomeLoss
236424000 usd
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
259000 usd
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
6975000 usd
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.3125
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
54792000 usd
CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
1402929000 usd
us-gaap Net Income Loss
NetIncomeLoss
246812000 usd
us-gaap Net Income Loss
NetIncomeLoss
236424000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
79579000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
72636000 usd
us-gaap Income Tax Credits And Adjustments
IncomeTaxCreditsAndAdjustments
-559000 usd
us-gaap Income Tax Credits And Adjustments
IncomeTaxCreditsAndAdjustments
-558000 usd
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
8840000 usd
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
10800000 usd
us-gaap Gain Loss On Investments
GainLossOnInvestments
5259000 usd
us-gaap Gain Loss On Investments
GainLossOnInvestments
3734000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
8082000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
6975000 usd
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
2167000 usd
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
164000 usd
us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
29130000 usd
us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
48782000 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
2198000 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-4873000 usd
us-gaap Increase Decrease In Other Regulatory Assets
IncreaseDecreaseInOtherRegulatoryAssets
-7209000 usd
us-gaap Increase Decrease In Other Regulatory Assets
IncreaseDecreaseInOtherRegulatoryAssets
-8387000 usd
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
2785000 usd
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-3899000 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
3180000 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-511000 usd
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-5745000 usd
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
13858000 usd
us-gaap Increase Decrease In Regulatory Liabilities
IncreaseDecreaseInRegulatoryLiabilities
24083000 usd
us-gaap Increase Decrease In Regulatory Liabilities
IncreaseDecreaseInRegulatoryLiabilities
21601000 usd
us-gaap Increase Decrease In Pension And Postretirement Obligations
IncreaseDecreaseInPensionAndPostretirementObligations
-7167000 usd
us-gaap Increase Decrease In Pension And Postretirement Obligations
IncreaseDecreaseInPensionAndPostretirementObligations
-7209000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
322775000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
318495000 usd
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
259750000 usd
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
229849000 usd
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
6684000 usd
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
4746000 usd
us-gaap Payments For Proceeds From Investments
PaymentsForProceedsFromInvestments
59100000 usd
us-gaap Payments For Proceeds From Investments
PaymentsForProceedsFromInvestments
6915000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-312166000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-232018000 usd
us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
-14021000 usd
us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
43292000 usd
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
120000000 usd
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
0 usd
us-gaap Payments Of Dividends
PaymentsOfDividends
58693000 usd
us-gaap Payments Of Dividends
PaymentsOfDividends
54792000 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
6457000 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
3088000 usd
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-1791000 usd
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-1671000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
39038000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-16259000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
49647000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
70218000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
230373000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
118996000 usd
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
280020000 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
189214000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
9396000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
13154000 usd
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
3 segment
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3 segment
us-gaap Use Of Estimates
UseOfEstimates
<div><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-bottom:6pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We use estimates based on the best information available in recording transactions and balances resulting from business operations. As better information becomes available or actual amounts are known, the recorded estimates are revised. Consequently, operating results can be affected by revisions to prior accounting estimates.</span></div>
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
3 segment
CY2024Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
338033000 usd
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
358056000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1027437000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1034853000 usd
CY2024Q3 us-gaap Net Income Loss
NetIncomeLoss
85479000 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
91974000 usd
us-gaap Net Income Loss
NetIncomeLoss
246812000 usd
us-gaap Net Income Loss
NetIncomeLoss
236424000 usd
CY2024Q3 us-gaap Assets
Assets
3566739000 usd
CY2023Q4 us-gaap Assets
Assets
3242568000 usd
CY2024Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
338033000 usd
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
358056000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1027437000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1034853000 usd
CY2024Q3 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
160476000 usd
CY2023Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
129257000 usd
CY2024Q3 us-gaap Other Receivables Gross Current
OtherReceivablesGrossCurrent
8862000 usd
CY2023Q4 us-gaap Other Receivables Gross Current
OtherReceivablesGrossCurrent
9084000 usd
CY2024Q3 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
18885000 usd
CY2023Q4 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
21324000 usd
CY2024Q3 us-gaap Accounts Receivable Gross
AccountsReceivableGross
188223000 usd
CY2023Q4 us-gaap Accounts Receivable Gross
AccountsReceivableGross
159665000 usd
CY2024Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
1950000 usd
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
2522000 usd
CY2024Q3 us-gaap Accounts Receivable Net
AccountsReceivableNet
186273000 usd
CY2023Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
157143000 usd
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
2522000 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
1648000 usd
us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
904000 usd
us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
1176000 usd
ottr Accounts Receivable Allowance For Credit Loss Writeoff After Recovery
AccountsReceivableAllowanceForCreditLossWriteoffAfterRecovery
1476000 usd
ottr Accounts Receivable Allowance For Credit Loss Writeoff After Recovery
AccountsReceivableAllowanceForCreditLossWriteoffAfterRecovery
837000 usd
CY2024Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
1950000 usd
CY2024Q3 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
83668000 usd
CY2023Q4 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
75733000 usd
CY2024Q3 us-gaap Inventory Work In Process
InventoryWorkInProcess
24904000 usd
CY2023Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
26354000 usd
CY2024Q3 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
44661000 usd
CY2023Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
47614000 usd
CY2024Q3 us-gaap Inventory Net
InventoryNet
153233000 usd
CY2023Q4 us-gaap Inventory Net
InventoryNet
149701000 usd
CY2024Q3 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
616000 usd
CY2023Q4 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
0 usd
CY2024Q3 us-gaap Life Insurance Corporate Or Bank Owned Amount
LifeInsuranceCorporateOrBankOwnedAmount
46585000 usd
CY2023Q4 us-gaap Life Insurance Corporate Or Bank Owned Amount
LifeInsuranceCorporateOrBankOwnedAmount
42287000 usd
CY2024Q3 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
1118000 usd
CY2024Q3 us-gaap Equity Securities Fv Ni Current And Noncurrent
EquitySecuritiesFvNiCurrentAndNoncurrent
11271000 usd
CY2023Q4 us-gaap Equity Securities Fv Ni Current And Noncurrent
EquitySecuritiesFvNiCurrentAndNoncurrent
7771000 usd
CY2024Q3 us-gaap Other Investments
OtherInvestments
27000 usd
CY2024Q3 us-gaap Long Term Investments
LongTermInvestments
121421000 usd
CY2023Q4 us-gaap Long Term Investments
LongTermInvestments
62516000 usd
CY2024Q2 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
50100000 usd
CY2024Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
62020000 usd
CY2024Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
1176000 usd
CY2024Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
160000 usd
CY2024Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
63036000 usd
CY2024Q3 us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
600000 usd
us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
1300000 usd
CY2023Q3 us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
0 usd
us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
0 usd
CY2024Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2604869000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2418375000 usd
CY2024Q3 us-gaap Regulatory Assets Current
RegulatoryAssetsCurrent
7860000 usd
CY2024Q3 us-gaap Regulatory Assets Noncurrent
RegulatoryAssetsNoncurrent
95537000 usd
CY2023Q4 us-gaap Regulatory Assets Current
RegulatoryAssetsCurrent
16127000 usd
CY2023Q4 us-gaap Regulatory Assets Noncurrent
RegulatoryAssetsNoncurrent
95715000 usd
CY2024Q3 us-gaap Regulatory Liability Current
RegulatoryLiabilityCurrent
43685000 usd
CY2024Q3 us-gaap Regulatory Liability Noncurrent
RegulatoryLiabilityNoncurrent
282997000 usd
CY2023Q4 us-gaap Regulatory Liability Current
RegulatoryLiabilityCurrent
25408000 usd
CY2023Q4 us-gaap Regulatory Liability Noncurrent
RegulatoryLiabilityNoncurrent
276547000 usd
CY2024Q3 us-gaap Asset Retirement Obligation Current
AssetRetirementObligationCurrent
100000 usd
CY2023Q4 us-gaap Asset Retirement Obligation Current
AssetRetirementObligationCurrent
100000 usd
CY2024Q3 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
38800000 usd
CY2023Q4 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
36400000 usd
CY2024Q3 us-gaap Long Term Debt
LongTermDebt
947000000 usd
CY2023Q4 us-gaap Long Term Debt
LongTermDebt
827000000 usd
CY2024Q3 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
3337000 usd
CY2023Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
2941000 usd
CY2024Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
943663000 usd
CY2023Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
824059000 usd
CY2024Q1 us-gaap Debt Instrument Redemption Price Percentage Of Principal Amount Redeemed
DebtInstrumentRedemptionPricePercentageOfPrincipalAmountRedeemed
0.10
CY2024Q1 us-gaap Debt Instrument Redemption Price Percentage
DebtInstrumentRedemptionPricePercentage
1
CY2024Q3 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
-1651000 usd
CY2023Q3 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
-1568000 usd
us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
-4952000 usd
us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
-4700000 usd
CY2024Q3 ottr Defined Benefit Plan Net Periodic Benefit Cost Credit Deferred
DefinedBenefitPlanNetPeriodicBenefitCostCreditDeferred
-379000 usd
CY2023Q3 ottr Defined Benefit Plan Net Periodic Benefit Cost Credit Deferred
DefinedBenefitPlanNetPeriodicBenefitCostCreditDeferred
-374000 usd
ottr Defined Benefit Plan Net Periodic Benefit Cost Credit Deferred
DefinedBenefitPlanNetPeriodicBenefitCostCreditDeferred
-1038000 usd
ottr Defined Benefit Plan Net Periodic Benefit Cost Credit Deferred
DefinedBenefitPlanNetPeriodicBenefitCostCreditDeferred
-864000 usd
CY2024Q3 ottr Defined Benefit Plan Net Periodic Benefit Cost Credit Net Of Deferrals
DefinedBenefitPlanNetPeriodicBenefitCostCreditNetOfDeferrals
-1272000 usd
CY2023Q3 ottr Defined Benefit Plan Net Periodic Benefit Cost Credit Net Of Deferrals
DefinedBenefitPlanNetPeriodicBenefitCostCreditNetOfDeferrals
-1194000 usd
ottr Defined Benefit Plan Net Periodic Benefit Cost Credit Net Of Deferrals
DefinedBenefitPlanNetPeriodicBenefitCostCreditNetOfDeferrals
-3914000 usd
ottr Defined Benefit Plan Net Periodic Benefit Cost Credit Net Of Deferrals
DefinedBenefitPlanNetPeriodicBenefitCostCreditNetOfDeferrals
-3836000 usd
us-gaap Pension Contributions
PensionContributions
0 usd
us-gaap Pension Contributions
PensionContributions
0 usd
CY2024Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.179
CY2023Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.212
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.188
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.197
CY2024Q3 us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
OciBeforeReclassificationsNetOfTaxAttributableToParent
1233000 usd
CY2023Q3 us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
OciBeforeReclassificationsNetOfTaxAttributableToParent
-292000 usd
CY2024Q3 us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
17000 usd
CY2023Q3 us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
-585000 usd
CY2024Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
1216000 usd
CY2023Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
293000 usd
us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
OciBeforeReclassificationsNetOfTaxAttributableToParent
989000 usd
us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
OciBeforeReclassificationsNetOfTaxAttributableToParent
-274000 usd
us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
158000 usd
us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
-533000 usd
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
831000 usd
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
259000 usd
CY2024Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1300000 usd
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
500000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8100000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7000000.0 usd
CY2024Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
41800000 shares
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
41680000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
41770000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
41663000 shares
CY2024Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
281000 shares
CY2023Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
378000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
298000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
365000 shares
CY2024Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
42081000 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
42058000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
42068000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
42028000 shares

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