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v3.25.1

SEGMENTS OF BUSINESS (Tables) | 3 Months Ended
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Mar. 31, 2025
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 March 31, 2025 (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Electric Operations | ​ | ​ | Coal Operations
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Delivered Energy |  | $ | 72,136 |  | Coal Sales | $ | 54,774
Capacity Revenue | ​ | ​ | 13,807 | ​ | ​ | ​ | ​
Electric Sales | ​ | $ | 85,943 | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Fuel | ​ | $ | (38,071) | ​ | ​ | ​ | ​
Other Operating Costs (1) | ​ | ​ | (8) | ​ | ​ | ​ | ​
Total Variable Costs | ​ | $ | (38,079) | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other Operating and Maintenance Costs (2) | ​ | $ | (4,527) | ​ | Fuel | $ | (556)
Cost of Purchased Power | ​ | ​ | (6,840) | ​ | Other Operating and Maintenance Costs | ​ | (23,854)
Utilities | ​ | ​ | (676) | ​ | Utilities | ​ | (3,476)
Labor | ​ | ​ | (8,143) | ​ | Labor | ​ | (18,886)
Power Margin Without General and Administrative | ​ | ​ | 27,678 | ​ | Coal Margin Without General and Administrative | ​ | 8,002
General and Administrative | ​ | ​ | (1,535) | ​ | General and Administrative | ​ | (2,313)
Electric Operations — EBITDA Margin | ​ | $ | 26,143 | ​ | Coal Operations — EBITDA Margin | $ | 5,689
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(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 March 31, 2024 (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Electric Operations | ​ | ​ | Coal Operations
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Delivered Energy |  | $ | 48,908 |  | Coal Sales | $ | 66,036
Capacity Revenue | ​ | ​ | 11,773 | ​ | ​ | ​ | ​
Electric Sales | ​ | $ | 60,681 | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Fuel | ​ | $ | (24,435) | ​ | ​ | ​ | ​
Other Operating Costs (1) | ​ | ​ | (493) | ​ | ​ | ​ | ​
Total Variable Costs | ​ | $ | (24,928) | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other Operating and Maintenance Costs (2) | ​ | $ | (4,886) | ​ | Fuel | $ | (1,235)
Cost of Purchased Power | ​ | ​ | (1,926) | ​ | Other Operating and Maintenance Costs | ​ | (31,791)
Utilities | ​ | ​ | (302) | ​ | Utilities | ​ | (4,292)
Labor | ​ | ​ | (7,683) | ​ | Labor | ​ | (27,485)
Power Margin Without General and Administrative | ​ | ​ | 20,956 | ​ | Coal Margin Without General and Administrative | ​ | 1,233
General and Administrative | ​ | ​ | (1,058) | ​ | General and Administrative | ​ | (2,438)
Electric Operations — EBITDA Margin | ​ | $ | 19,898 | ​ | Coal Operations — EBITDA Margin | $ | (1,205)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(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 March 31, 2025 (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Corporate and Other | ​ | ​ |
Reconciliation of Revenue: | ​ | Electric Operations | ​ | Coal Operations | ​ | and Eliminations | ​ | Consolidated
Delivered Energy |  | $ | 72,136 |  | $ | — |  | $ | — |  | $ | 72,136
Capacity Revenue | ​ | ​ | 13,807 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 13,807
Other Operating Revenue | ​ | ​ | 87 | ​ | ​ | 1,324 | ​ | ​ | 248 | ​ | ​ | 1,659
Coal Sales (Third-Party) | ​ | ​ | — | ​ | ​ | 30,185 | ​ | ​ | — | ​ | ​ | 30,185
Coal Sales (Intercompany) | ​ | ​ | — | ​ | ​ | 24,589 | ​ | ​ | (24,589) | ​ | ​ | —
Operating Revenues | ​ | $ | 86,030 | ​ | $ | 56,098 | ​ | $ | (24,341) | ​ | $ | 117,787
​ Presented below are the Electric and Coal Operations revenues reconciled to our consolidated operating revenues at March 31, 2024 (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Corporate and Other | ​ | ​ |
Reconciliation of Revenue: | ​ | Electric Operations | ​ | Coal Operations | ​ | and Eliminations | ​ | Consolidated
Delivered Energy |  | $ | 48,908 |  | $ | — |  | $ | — |  | $ | 48,908
Capacity Revenue | ​ | ​ | 11,773 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 11,773
Other Operating Revenue | ​ | ​ | 157 | ​ | ​ | 810 | ​ | ​ | 296 | ​ | ​ | 1,263
Coal Sales (Third-Party) | ​ | ​ | — | ​ | ​ | 49,630 | ​ | ​ | — | ​ | ​ | 49,630
Coal Sales (Intercompany) | ​ | ​ | — | ​ | ​ | 16,406 | ​ | ​ | (16,406) | ​ | ​ | —
Operating Revenues | ​ | $ | 60,838 | ​ | $ | 66,846 | ​ | $ | (16,110) | ​ | $ | 111,574
Schedule of EBITDA Margin to Income (loss) before Income Taxes | Presented below is our reconciliation of EBITDA Margin to the most comparable GAAP account, income (loss) before income taxes at March 31, 2025 (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Corporate and Other | ​ | ​ |
Reconciliation of Income (Loss) before Income Taxes: | ​ | Electric Operations | ​ | Coal Operations | ​ | and Eliminations | ​ | Consolidated
Electric Operations — EBITDA Margin |  | $ | 26,143 |  | $ | — |  | $ | 23,417 |  | $ | 49,560
Coal Operations — EBITDA Margin | ​ | ​ | — | ​ | ​ | 5,689 | ​ | ​ | (24,589) | ​ | ​ | (18,900)
Other Operating Revenue | ​ | ​ | 87 | ​ | ​ | 1,324 | ​ | ​ | 248 | ​ | ​ | 1,659
Depreciation, Depletion and Amortization | ​ | ​ | (5,161) | ​ | ​ | (9,797) | ​ | ​ | (19) | ​ | ​ | (14,977)
Asset Retirement Obligations Accretion | ​ | ​ | (120) | ​ | ​ | (307) | ​ | ​ | — | ​ | ​ | (427)
Exploration Costs | ​ | ​ | — | ​ | ​ | (21) | ​ | ​ | — | ​ | ​ | (21)
Gain (loss) on disposal or abandonment of assets, net | ​ | ​ | — | ​ | ​ | 21 | ​ | ​ | — | ​ | ​ | 21
Interest Expense | ​ | ​ | (1,732) | ​ | ​ | (1,991) | ​ | ​ | — | ​ | ​ | (3,723)
Equity Method Investment (Loss) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (236) | ​ | ​ | (236)
Corporate — General and Administrative | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (2,977) | ​ | ​ | (2,977)
Income (Loss) before Income Taxes | ​ | $ | 19,217 | ​ | $ | (5,082) | ​ | $ | (4,156) | ​ | $ | 9,979
​ Presented below is our reconciliation of EBITDA Margin to the most comparable GAAP account, income (loss) before income taxes at March 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 |  | $ | 19,898 |  | $ | — |  | $ | 17,611 |  | $ | 37,509
Coal Operations — EBITDA Margin | ​ | ​ | — | ​ | ​ | (1,205) | ​ | ​ | (16,406) | ​ | ​ | (17,611)
Other Operating Revenue | ​ | ​ | 157 | ​ | ​ | 810 | ​ | ​ | 296 | ​ | ​ | 1,263
Depreciation, Depletion and Amortization | ​ | ​ | (4,697) | ​ | ​ | (10,728) | ​ | ​ | (18) | ​ | ​ | (15,443)
Asset Retirement Obligations Accretion | ​ | ​ | (111) | ​ | ​ | (288) | ​ | ​ | — | ​ | ​ | (399)
Exploration Costs | ​ | ​ | — | ​ | ​ | (70) | ​ | ​ | — | ​ | ​ | (70)
Gain (loss) on disposal or abandonment of assets, net | ​ | ​ | — | ​ | ​ | 24 | ​ | ​ | — | ​ | ​ | 24
Interest Expense | ​ | ​ | (148) | ​ | ​ | (3,209) | ​ | ​ | (580) | ​ | ​ | (3,937)
Loss on Extinguishment of Debt | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (853) | ​ | ​ | (853)
Equity Method Investment (Loss) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (249) | ​ | ​ | (249)
Corporate — General and Administrative | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (2,448) | ​ | ​ | (2,448)
Corporate — Other Operating and Maintenance Costs | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (92) | ​ | ​ | (92)
Income (Loss) before Income Taxes | ​ | $ | 15,099 | ​ | $ | (14,666) | ​ | $ | (2,739) | ​ | $ | (2,306)
Schedule of segment assets and capital expenditures | Presented below are our Electric and Coal Operations assets and capital expenditures at March 31, 2025 (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Corporate and Other | ​ | ​ |
Other Reconciliations: | ​ | Electric Operations | ​ | Coal Operations | ​ | and Eliminations | ​ | Consolidated
Assets |  | $ | 222,865 |  | $ | 141,023 |  | $ | 2,209 |  | $ | 366,097
Capital Expenditures | ​ | $ | 5,449 | ​ | $ | 6,244 | ​ | $ | — | ​ | $ | 11,693
​ Presented below are our Electric and Coal Operations assets and capital expenditures at March 31, 2024 (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Corporate and Other | ​ | ​ |
Other Reconciliations: | ​ | Electric Operations | ​ | Coal Operations | ​ | and Eliminations | ​ | Consolidated
Assets |  | $ | 211,116 |  | $ | 370,292 |  | $ | 4,012 |  | $ | 585,420
Capital Expenditures | ​ | $ | 6,242 | ​ | $ | 8,632 | ​ | $ | — | ​ | $ | 14,874
​

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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