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Intangible Contract Assets and Liabilities | 12 Months Ended
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Dec. 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 December 31, 2020 and 2019, are set forth in the following tables:
| December 31, 2020
| Assets |  | Liabilities |  | Net Total
| (Dollars in millions)
Coal supply agreements | $ | 7.9 |  |  | $ | (17.3) |  |  | $ | (9.4) |
Take-or-pay contracts | — |  |  | (34.7) |  |  | (34.7) |
Total | $ | 7.9 |  |  | $ | (52.0) |  |  | $ | (44.1) |
Balance sheet classification: |  |  |  |  |
Investments and other assets | $ | 7.9 |  |  | $ | — |  |  | $ | 7.9 |
Accounts payable and accrued expenses | — |  |  | (4.4) |  |  | (4.4) |
Other noncurrent liabilities | — |  |  | (47.6) |  |  | (47.6) |
Total | $ | 7.9 |  |  | $ | (52.0) |  |  | $ | (44.1) |
| 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 consolidated statements of operations. Such amortization amounted to $4.2 million, $23.2 million and $93.0 million during the years ended December 31, 2020, 2019 and 2018, respectively. During the year ended December 31, 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 3. “Asset Impairment.” The Company anticipates net amortization of sales contracts, based upon expected shipments, to be a credit of less than $1 million for the year 2021, credits of approximately $2 million per year for the years 2022 through 2024, and a credit of $3 million for the year 2025. 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 consolidated statements of operations, amounted to $8.2 million, $16.6 million and $26.6 million during the years ended December 31, 2020, 2019 and 2018, respectively. The Company anticipates net amortization of take-or-pay contract intangible liabilities for the years 2021 through 2025 to be approximately $4 million, $3 million, $3 million, $4 million and $1 million, respectively, and $20 million in total thereafter.

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