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Asset Retirement Obligations

12 Months Ended

Dec. 31, 2023

Asset Retirement Obligation Disclosure [Abstract]

Asset Retirement Obligations

Asset Retirement Obligations

We have recognized Asset Retirement Obligations (AROs) related to our coal-fired generation plants, natural gas combustion turbines, solar facility, and wind turbines. The cost of AROs include items such as site restoration, closure of ash pits, and removal of certain structures, generators, asbestos and storage tanks. We have other legal obligations associated with the retirement of a variety of other long-lived tangible assets used in electric operations where the estimated settlement costs are individually and collectively immaterial. We have no assets legally restricted for the settlement of any AROs. As of December 31, 2023 and 2022, $0.1 million and $2.7 million, respectively, was included in other current liabilities and $36.4 million and $22.5 million, respectively, was included in other noncurrent liabilities in the consolidated balance sheets related to AROs.

A reconciliation of the carrying amounts of AROs for the years ended December 31, 2023 and 2022 is as follows: 

(in thousands)			2023						2022
Beginning Balance			$	25,182					$	24,191
New Obligations Recognized			4,506						—
Adjustments Due to Revisions in Cash Flow Estimates			8,394						—
Accrued Accretion			1,191						991
Settlements			(2,796)						—
Ending Balance			$	36,477					$	25,182

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- References

No definition available.

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- Definition

The entire disclosure for an asset retirement obligation and the associated long-lived asset. An asset retirement obligation is a legal obligation associated with the disposal or retirement from service of a tangible long-lived asset that results from the acquisition, construction or development, or the normal operations of a long-lived asset, except for certain obligations of lessees.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 410
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481850/410-20-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 410
-SubTopic 20
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//410-20/tableOfContent

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-SubTopic 20
-Topic 410
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481850/410-20-50-2

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