NOTE 1  ORGANIZATION Tri-State Generation and Transmission Association, Inc. (Tri-State, we, our, us, or the Association) is a taxable wholesale electric power generation and transmission cooperative operating on a not-for-profit basis serving large portions of Colorado, Nebraska, New Mexico and Wyoming. We were incorporated under the laws of the State of Colorado in 1952. We have two classes of members  all requirements electric members known as our Class A members and non-utility members. For our Class A members, we provide electric power to our forty-three electric member distribution systems (Member(s)) pursuant to long-term wholesale electric service contracts. We have three non-utility members. The addition of non-utility members in 2019 and specifically the addition of MIECO, Inc. on September 3, 2019 removed the exemption from Federal Energy Regulatory Commissions (FERC) regulation for us, thus subjecting us to full rate and transmission jurisdiction by FERC on September 3, 2019. We also sell a portion of our electric power to other utilities in our regions pursuant to long-term contracts and short-term sale arrangements. In 2019, 2018 and 2017, total megawatt-hours sold were 18.1, 18.2 and 18.0 million, respectively, of which 90.6, 90.0 and 88.3 percent, respectively, were sold to Members. Total revenue from electric sales was $1.3 billion for 2019, 2018 and 2017 of which 92.8, 97.3, and 92.3 percent in 2019, 2018 and 2017, respectively, was from Member sales. Energy resources were provided by our generation and purchased power, of which 61.5, 58.9 and 61.4 percent in 2019, 2018 and 2017, respectively, were from our generation. Revenue from one Member, United Power, Inc., was $205.5 million, or 16.6 percent, of our Member revenue and 14.8 percent of our total operating revenues in 2019. No other Member exceeded 10 percent of our Member revenue or our total operating revenues in 2019. Power is provided to Members at rates determined by our Board of Directors (Board), subject to FERC approval. Rates are designed to recover all costs and provide margins to increase Members equity and to meet certain financial covenants, including a debt service ratio (DSR) requirement and equity to capitalization ratio (ECR) requirement. We supply wholesale power to our Members through the utilization of a portfolio of resources, including generation and transmission facilities, long-term purchase contracts and short-term energy purchases. Our generating facilities also include undivided ownership interests in jointly owned generating facilities. See Note 3Property, Plant and Equipment. In support of our coal-fired generating facilities, we have direct ownership and investment in coal mines. We, including our subsidiaries, employ 1,467 people, of which 280 are subject to collective bargaining agreements. None of these agreements expire within one year .