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Intangible Contract Assets and Liabilities | 3 Months Ended
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Mar. 31, 2020
Revenue Recognition [Abstract] |
Intangible Contract Assets and Liabilities | Intangible Contract Assets and Liabilities The Company has recorded intangible assets and liabilities to reflect the fair value of certain U.S. coal supply agreements as a result of differences between contract terms and estimated market terms for the same coal products and also recorded intangible liabilities related to unutilized capacity under its port and rail take-or-pay contracts. The balances, net of accumulated amortization, and respective balance sheet classifications at March 31, 2020 and December 31, 2019, are set forth in the following tables:
| March 31, 2020
| Assets |  | Liabilities |  | Net Total
| (Dollars in millions)
Coal supply agreements | $ | 16.8 |  |  | $ | (19.9 | ) |  | $ | (3.1 | )
Take-or-pay contracts | — |  |  | (32.9 | ) |  | (32.9 | )
Total | $ | 16.8 |  |  | $ | (52.8 | ) |  | $ | (36.0 | )
Balance sheet classification: |  |  |  |  |
Investments and other assets | $ | 16.8 |  |  | $ | — |  |  | $ | 16.8 |
Accounts payable and accrued expenses | — |  |  | (5.9 | ) |  | (5.9 | )
Other noncurrent liabilities | — |  |  | (46.9 | ) |  | (46.9 | )
Total | $ | 16.8 |  |  | $ | (52.8 | ) |  | $ | (36.0 | )
| December 31, 2019
| Assets |  | Liabilities |  | Net Total
| (Dollars in millions)
Coal supply agreements | $ | 20.7 |  |  | $ | (21.4 | ) |  | $ | (0.7 | )
Take-or-pay contracts | — |  |  | (40.0 | ) |  | (40.0 | )
Total | $ | 20.7 |  |  | $ | (61.4 | ) |  | $ | (40.7 | )
Balance sheet classification: |  |  |  |  |
Investments and other assets | $ | 20.7 |  |  | $ | — |  |  | $ | 20.7 |
Accounts payable and accrued expenses | — |  |  | (8.4 | ) |  | (8.4 | )
Other noncurrent liabilities | — |  |  | (53.0 | ) |  | (53.0 | )
Total | $ | 20.7 |  |  | $ | (61.4 | ) |  | $ | (40.7 | )
Amortization of the intangible assets and liabilities related to coal supply agreements occurs ratably based upon coal volumes shipped per contract and is recorded as a component of “Depreciation, depletion and amortization” in the accompanying unaudited condensed consolidated statements of operations. Such amortization amounted to $2.4 million and $4.8 million during the three months ended March 31, 2020 and 2019, respectively. The Company anticipates net amortization of sales contracts, based upon expected shipments, to be an expense of approximately $5 million during the remaining nine months of 2020, expense of approximately $1 million for the year 2021 and credits of approximately $2 million per year for the years 2022 through 2024, and $3 million in total thereafter. Future unutilized capacity and the amortization periods related to the take-or-pay contract intangible liabilities are based upon estimates of forecasted usage. Such amortization, which is classified as a reduction to “Operating costs and expenses” in the accompanying unaudited condensed consolidated statements of operations, amounted to $2.6 million and $5.6 million during the three months ended March 31, 2020 and 2019, respectively. The Company anticipates net amortization of take-or-pay contract intangible liabilities to be approximately $5 million during the remaining nine months of 2020, and for the years 2021 through 2024 to be approximately $4 million, $3 million, $2 million and $3 million, respectively, and $16 million thereafter.

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