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Intangible Contract Assets and Liabilities | 6 Months Ended
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Jun. 30, 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 June 30, 2020 and December 31, 2019, are set forth in the following tables:
| June 30, 2020 |  |  |  |
| Assets |  | Liabilities |  | Net Total
| (Dollars in millions) |  |  |  |
Coal supply agreements | $ | 10.1 |  |  | $ | (19.0) |  |  | $ | (8.9) |
Take-or-pay contracts | — |  |  | (33.7) |  |  | (33.7) |
Total | $ | 10.1 |  |  | $ | (52.7) |  |  | $ | (42.6) |
Balance sheet classification: |  |  |  |  |
Investments and other assets | $ | 10.1 |  |  | $ | — |  |  | $ | 10.1 |
Accounts payable and accrued expenses | — |  |  | (4.7) |  |  | (4.7) |
Other noncurrent liabilities | — |  |  | (48.0) |  |  | (48.0) |
Total | $ | 10.1 |  |  | $ | (52.7) |  |  | $ | (42.6) |
| 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 $1.3 million and $6.8 million during the three months ended June 30, 2020 and 2019, respectively, and $3.7 million and $11.6 million during the six months ended June 30, 2020 and 2019, respectively. During the three and six months ended June 30, 2020, the Company also charged to expense intangible assets of $4.5 million related to a coal supply agreement deemed to have been impaired, as further described in Note 9. “Property, Plant, Equipment and Mine Development.” The Company anticipates net amortization of sales contracts, based upon expected shipments, to be an expense of less than $1 million during the remaining six months of 2020, expense of less than $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 $2.7 million and $5.6 million during the three months ended June 30, 2020 and 2019, respectively, and $5.3 million and $11.2 million during the six months ended June 30, 2020 and 2019, respectively. The Company anticipates net amortization of take-or-pay contract intangible liabilities to be approximately $3 million during the remaining six months of 2020, and for the years 2021 through 2024 to be approximately $4 million, $3 million, $3 million and $3 million, respectively, and $18 million thereafter.

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