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v3.25.1

SEGMENTS OF BUSINESS (Tables) | 12 Months Ended
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Dec. 31, 2024
SEGMENTS OF BUSINESS |
Schedule of key metrics reviewed by CODM | Presented below are the Electric and Coal Operations key metrics reviewed by the CODM at December 31, 2024 (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Electric Operations | ​ | ​ | Coal Operations
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Delivered Energy |  | $ | 203,434 |  | Coal Sales | $ | 202,525
Capacity Revenue | ​ | ​ | 58,093 | ​ | ​ | ​ | ​
Electric Sales | ​ | $ | 261,527 | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Fuel | ​ | $ | (111,768) | ​ | ​ | ​ | ​
Other Operating Costs (1) | ​ | ​ | (19) | ​ | ​ | ​ | ​
Total Variable Costs | ​ | $ | (111,787) | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other Operating and Maintenance Costs (2) | ​ | $ | (28,622) | ​ | Fuel | $ | (2,851)
Cost of Purchased Power | ​ | ​ | (10,888) | ​ | Other Operating and Maintenance Costs | ​ | (89,283)
Utilities | ​ | ​ | (2,070) | ​ | Utilities | ​ | (13,844)
Labor | ​ | ​ | (30,842) | ​ | Labor | ​ | (85,322)
Power Margin Without General and Administrative | ​ | ​ | 77,318 | ​ | Coal Margin Without General and Administrative | ​ | 11,225
General and Administrative | ​ | ​ | (5,311) | ​ | General and Administrative | ​ | (9,877)
Electric Operations — EBITDA Margin | ​ | $ | 72,007 | ​ | Coal Operations — EBITDA Margin | $ | 1,348
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(1) Other operating costs include costs for limestone, dibasic acid, ammonia, lime dust and soda ash.
(2) Other operating and maintenance costs include all other operating and maintenance costs with the exceptions of those costs considered variable as discussed above in (1).
​ Presented below are the Electric and Coal Operations key metrics reviewed by the CODM at December 31, 2023 (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Electric Operations | ​ | ​ | Coal Operations
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Delivered Energy |  | $ | 211,772 |  | Coal Sales | $ | 432,888
Capacity Revenue | ​ | ​ | 56,155 | ​ | ​ | ​ | ​
Electric Sales | ​ | $ | 267,927 | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Fuel | ​ | $ | (139,496) | ​ | ​ | ​ | ​
Other Operating Costs (1) | ​ | ​ | (32) | ​ | ​ | ​ | ​
Total Variable Costs | ​ | $ | (139,528) | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other Operating and Maintenance Costs (2) | ​ | $ | (33,777) | ​ | Fuel | $ | (7,089)
Cost of Purchased Power | ​ | ​ | — | ​ | Other Operating and Maintenance Costs | ​ | (165,479)
Utilities | ​ | ​ | (429) | ​ | Utilities | ​ | (17,301)
Labor | ​ | ​ | (31,245) | ​ | Labor | ​ | (121,172)
Power Margin Without General and Administrative | ​ | ​ | 62,948 | ​ | Coal Margin Without General and Administrative | ​ | 121,847
General and Administrative | ​ | ​ | (4,914) | ​ | General and Administrative | ​ | (10,287)
Electric Operations — EBITDA Margin | ​ | $ | 58,034 | ​ | Coal Operations — EBITDA Margin | $ | 111,560
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(1) Other operating costs include costs for limestone, dibasic acid, ammonia, lime dust and soda ash.
(2) Other operating and maintenance costs include all other operating and maintenance costs with the exceptions of those costs considered variable as discussed above in (1).
Schedule of reconciliation of segment revenues to consolidated | Presented below are the Electric and Coal Operations revenues reconciled to our consolidated operating revenues at December 31, 2024 (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Corporate and Other | ​ | ​ |
Reconciliation of Revenue: | ​ | Electric Operations | ​ | Coal Operations | ​ | and Eliminations | ​ | Consolidated
Delivered Energy |  | $ | 203,434 |  | $ | — |  | $ | — |  | $ | 203,434
Capacity Revenue | ​ | ​ | 58,093 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 58,093
Other Operating Revenue | ​ | ​ | 982 | ​ | ​ | 2,756 | ​ | ​ | 1,681 | ​ | ​ | 5,419
Coal Sales (Third-Party) | ​ | ​ | — | ​ | ​ | 137,448 | ​ | ​ | — | ​ | ​ | 137,448
Coal Sales (Intercompany) | ​ | ​ | — | ​ | ​ | 65,077 | ​ | ​ | (65,077) | ​ | ​ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Operating Revenues | ​ | $ | 262,509 | ​ | $ | 205,281 | ​ | $ | (63,396) | ​ | $ | 404,394
​ Presented below are the Electric and Coal Operations revenues reconciled to our consolidated operating revenues at December 31, 2023 (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Corporate and Other | ​ | ​ |
Reconciliation of Revenue: | ​ | Electric Operations | ​ | Coal Operations | ​ | and Eliminations | ​ | Consolidated
Delivered Energy |  | $ | 211,772 |  | $ | — |  | $ | — |  | $ | 211,772
Capacity Revenue | ​ | ​ | 56,155 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 56,155
Other Operating Revenue | ​ | ​ | 414 | ​ | ​ | 2,936 | ​ | ​ | 1,675 | ​ | ​ | 5,025
Coal Sales (Third-Party) | ​ | ​ | — | ​ | ​ | 361,926 | ​ | ​ | — | ​ | ​ | 361,926
Coal Sales (Intercompany) | ​ | ​ | — | ​ | ​ | 70,962 | ​ | ​ | (70,962) | ​ | ​ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Operating Revenues | ​ | $ | 268,341 | ​ | $ | 435,824 | ​ | $ | (69,287) | ​ | $ | 634,878
Schedule of operations of primary reportable segments | Presented below is our reconciliation of EBITDA Margin to the most comparable GAAP account, income (loss) before income taxes at December 31, 2024 (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Corporate and Other | ​ | ​ |
Reconciliation of Income (Loss) before Income Taxes: | ​ | Electric Operations | ​ | Coal Operations | ​ | and Eliminations | ​ | Consolidated
Electric Operations — EBITDA Margin |  | $ | 72,007 |  | $ | — |  | $ | 65,276 |  | $ | 137,283
Coal Operations — EBITDA Margin | ​ | ​ | — | ​ | ​ | 1,348 | ​ | ​ | (65,077) | ​ | ​ | (63,729)
Other Operating Revenue | ​ | ​ | 982 | ​ | ​ | 2,756 | ​ | ​ | 1,681 | ​ | ​ | 5,419
Depreciation, Depletion and Amortization | ​ | ​ | (19,290) | ​ | ​ | (46,245) | ​ | ​ | (91) | ​ | ​ | (65,626)
Asset Impairment | ​ | ​ | — | ​ | ​ | (215,136) | ​ | ​ | — | ​ | ​ | (215,136)
Asset Retirement Obligations Accretion | ​ | ​ | (457) | ​ | ​ | (1,171) | ​ | ​ | — | ​ | ​ | (1,628)
Exploration Costs | ​ | ​ | — | ​ | ​ | (260) | ​ | ​ | — | ​ | ​ | (260)
Gain (loss) on disposal or abandonment of assets, net | ​ | ​ | — | ​ | ​ | (1,629) | ​ | ​ | 1,679 | ​ | ​ | 50
Interest Expense | ​ | ​ | (1,875) | ​ | ​ | (11,033) | ​ | ​ | (942) | ​ | ​ | (13,850)
Loss on Extinguishment of Debt | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (2,790) | ​ | ​ | (2,790)
Equity Method Investment (Loss) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (746) | ​ | ​ | (746)
Settlement of litigation | ​ | ​ | — | ​ | ​ | (2,750) | ​ | ​ | — | ​ | ​ | (2,750)
Corporate — General and Administrative | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (11,339) | ​ | ​ | (11,339)
Corporate — Other Operating and Maintenance Costs | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (440) | ​ | ​ | (440)
Income (Loss) before Income Taxes | ​ | $ | 51,367 | ​ | $ | (274,120) | ​ | $ | (12,789) | ​ | $ | (235,542)
​ Presented below is our reconciliation of EBITDA Margin to the most comparable GAAP account, income (loss) before income taxes at December 31, 2023 (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Corporate and Other | ​ | ​ |
Reconciliation of Income (Loss) before Income Taxes: | ​ | Electric Operations | ​ | Coal Operations | ​ | and Eliminations | ​ | Consolidated
Electric Operations — EBITDA Margin |  | $ | 58,034 |  | $ | — |  | $ | 69,778 |  | $ | 127,812
Coal Operations — EBITDA Margin | ​ | ​ | — | ​ | ​ | 111,560 | ​ | ​ | (70,961) | ​ | ​ | 40,599
Other Operating Revenue | ​ | ​ | 414 | ​ | ​ | 2,936 | ​ | ​ | 1,675 | ​ | ​ | 5,025
Amortization of Contract Asset | ​ | ​ | (26,581) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (26,581)
Depreciation, Depletion and Amortization | ​ | ​ | (18,739) | ​ | ​ | (48,365) | ​ | ​ | (107) | ​ | ​ | (67,211)
Asset Retirement Obligations Accretion | ​ | ​ | (576) | ​ | ​ | (1,228) | ​ | ​ | — | ​ | ​ | (1,804)
Exploration Costs | ​ | ​ | — | ​ | ​ | (904) | ​ | ​ | — | ​ | ​ | (904)
Gain (loss) on disposal or abandonment of assets, net | ​ | ​ | — | ​ | ​ | (398) | ​ | ​ | — | ​ | ​ | (398)
Interest Expense | ​ | ​ | (322) | ​ | ​ | (11,869) | ​ | ​ | (1,520) | ​ | ​ | (13,711)
Loss on Extinguishment of Debt | ​ | ​ | ​ | ​ | ​ | (1,491) | ​ | ​ | — | ​ | ​ | (1,491)
Equity Method Investment (Loss) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (552) | ​ | ​ | (552)
Corporate — General and Administrative | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (10,958) | ​ | ​ | (10,958)
Corporate — Other Operating and Maintenance Costs | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (568) | ​ | ​ | (568)
Income (Loss) before Income Taxes | ​ | $ | 12,230 | ​ | $ | 50,241 | ​ | $ | (13,213) | ​ | $ | 49,258
Schedule of segment assets and capital expenditures | Presented below are our Electric and Coal Operations assets and capital expenditures at December 31, 2024 (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Corporate and Other | ​ | ​ |
Other Reconciliations: | ​ | Electric Operations | ​ | Coal Operations | ​ | and Eliminations | ​ | Consolidated
Assets |  | $ | 220,477 |  | $ | 144,519 |  | $ | 4,124 |  | $ | 369,120
Capital Expenditures | ​ | $ | 18,699 | ​ | $ | 34,081 | ​ | $ | 587 | ​ | $ | 53,367
​ Presented below are our Electric and Coal Operations assets and capital expenditures at December 31, 2023 (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Corporate and Other | ​ | ​ |
Other Reconciliations: | ​ | Electric Operations | ​ | Coal Operations | ​ | and Eliminations | ​ | Consolidated
Assets |  | $ | 208,331 |  | $ | 376,387 |  | $ | 5,062 |  | $ | 589,780
Capital Expenditures | ​ | $ | 18,831 | ​ | $ | 56,521 | ​ | $ | — | ​ | $ | 75,352
​

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