XML 45 R30.htm IDEA: XBRL DOCUMENT v3.25.3

SEGMENTS OF BUSINESS (Tables)

9 Months Ended

Sep. 30, 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 for the three months ended September 30, 2025 (in thousands):

​

​	​	​	​	​	​	​	​
​	​	Electric Operations		​	​	Coal Operations
Delivered Energy		$	77,776		Coal Sales	$	68,814
Capacity Revenue	​	​	15,459	​	​	​	​
Electric Sales	​	$	93,235	​	​	​	​
​	​	​	​	​	​	​	​
Fuel	​	$	(44,751)	​	​	​	​
Other Operating Costs (1)	​	​	(1)	​	​	​	​
Total Variable Costs	​	$	(44,752)	​	​	​	​
​	​	​	​	​	​	​	​
Other Operating and Maintenance Costs (2)	​	$	(9,368)	​	Fuel	$	(574)
Cost of Purchased Power	​	​	(2,074)	​	Other Operating and Maintenance Costs	​	(35,046)
Utilities	​	​	(1,873)	​	Utilities	​	(2,670)
Labor	​	​	(7,949)	​	Labor	​	(19,625)
Power Margin Without General and Administrative	​	​	27,219	​	Coal Margin Without General and Administrative	​	10,899
General and Administrative	​	​	(1,308)	​	General and Administrative	​	(2,062)
Electric Operations — EBITDA Margin	​	$	25,911	​	Coal Operations — EBITDA Margin	$	8,837

​

(1) Other operating costs primarily include costs for lime dust.

(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 for the three months ended September 30, 2024 (in thousands):

​

​	​	​	​	​	​	​	​
​	​	Electric Operations		​	​	Coal Operations
Delivered Energy		$	56,256		Coal Sales	$	48,320
Capacity Revenue	​	​	15,860	​	​	​	​
Electric Sales	​	$	72,116	​	​	​	​
​	​	​	​	​	​	​	​
Fuel	​	$	(30,181)	​	​	​	​
Other Operating Costs (1)	​	​	(36)	​	​	​	​
Total Variable Costs	​	$	(30,217)	​	​	​	​
​	​	​	​	​	​	​	​
Other Operating and Maintenance Costs (2)	​	$	(5,561)	​	Fuel	$	(572)
Cost of Purchased Power	​	​	(3,149)	​	Other Operating and Maintenance Costs	​	(27,031)
Utilities	​	​	(492)	​	Utilities	​	(3,094)
Labor	​	​	(7,360)	​	Labor	​	(19,361)
Power Margin Without General and Administrative	​	​	25,337	​	Coal Margin Without General and Administrative	​	(1,738)
General and Administrative	​	​	(1,252)	​	General and Administrative	​	(2,082)
Electric Operations — EBITDA Margin	​	$	24,085	​	Coal Operations — EBITDA Margin	$	(3,820)

​

(1) Other operating costs primarily include costs for lime dust.

(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 for the nine months ended September 30, 2025 (in thousands):

​

​	​	​	​	​	​	​	​
​	​	Electric Operations		​	​	Coal Operations
Delivered Energy		$	194,044		Coal Sales	$	169,117
Capacity Revenue	​	​	45,110	​	​	​	​
Electric Sales	​	$	239,154	​	​	​	​
​	​	​	​	​	​	​	​
Fuel	​	$	(104,150)	​	​	​	​
Other Operating Costs (1)	​	​	(10)	​	​	​	​
Total Variable Costs	​	$	(104,160)	​	​	​	​
​	​	​	​	​	​	​	​
Other Operating and Maintenance Costs (2)	​	$	(24,602)	​	Fuel	$	(1,564)
Cost of Purchased Power	​	​	(11,086)	​	Other Operating and Maintenance Costs	​	(77,147)
Utilities	​	​	(3,932)	​	Utilities	​	(9,270)
Labor	​	​	(23,731)	​	Labor	​	(57,671)
Power Margin Without General and Administrative	​	​	71,643	​	Coal Margin Without General and Administrative	​	23,465
General and Administrative	​	​	(3,972)	​	General and Administrative	​	(6,290)
Electric Operations — EBITDA Margin	​	$	67,671	​	Coal Operations — EBITDA Margin	$	17,175

​

(1) Other operating costs primarily include costs for lime dust.

(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 for the nine months ended September 30, 2024 (in thousands):

​

​	​	​	​	​	​	​	​
​	​	Electric Operations		​	​	Coal Operations
Delivered Energy		$	148,490		Coal Sales	$	160,066
Capacity Revenue	​	​	44,506	​	​	​	​
Electric Sales	​	$	192,996	​	​	​	​
​	​	​	​	​	​	​	​
Fuel	​	$	(79,532)	​	​	​	​
Other Operating Costs (1)	​	​	(22)	​	​	​	​
Total Variable Costs	​	$	(79,554)	​	​	​	​
​	​	​	​	​	​	​	​
Other Operating and Maintenance Costs (2)	​	$	(22,926)	​	Fuel	$	(2,557)
Cost of Purchased Power	​	​	(7,694)	​	Other Operating and Maintenance Costs	​	(80,419)
Utilities	​	​	(1,451)	​	Utilities	​	(10,639)
Labor	​	​	(22,203)	​	Labor	​	(66,241)
Power Margin Without General and Administrative	​	​	59,168	​	Coal Margin Without General and Administrative	​	210
General and Administrative	​	​	(3,760)	​	General and Administrative	​	(8,012)
Electric Operations — EBITDA Margin	​	$	55,408	​	Coal Operations — EBITDA Margin	$	(7,802)

​

(1) Other operating costs primarily include costs for lime dust.

(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 for the three months ended September 30, 2025 (in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Corporate and Other

​

​

Reconciliation of Revenue:

​

Electric Operations

​

Coal Operations

​

and Eliminations

​

Consolidated

Delivered Energy

$

77,776

$

—

$

—

$

77,776

Capacity Revenue

​

​

15,459

​

​

—

​

​

—

​

​

15,459

Other Revenue

​

​

192

​

​

1,647

​

​

516

​

​

2,355

Coal Sales (Third-Party)

​

​

—

​

​

51,256

​

​

—

​

​

51,256

Coal Sales (Intercompany)

​

​

—

​

​

17,558

​

​

(17,558)

​

​

—

Operating Revenues

​

$

93,427

​

$

70,461

​

$

(17,042)

​

$

146,846

Presented below are the Electric and Coal Operations revenues reconciled to our consolidated operating revenues for the three months ended September 30, 2024 (in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Corporate and Other

​

​

Reconciliation of Revenue:

​

Electric Operations

​

Coal Operations

​

and Eliminations

​

Consolidated

Delivered Energy

$

56,256

$

—

$

—

$

56,256

Capacity Revenue

​

​

15,860

​

​

—

​

​

—

​

​

15,860

Other Revenue

​

​

187

​

​

721

​

​

469

​

​

1,377

Coal Sales (Third-Party)

​

​

—

​

​

31,662

​

​

—

​

​

31,662

Coal Sales (Intercompany)

​

​

—

​

​

16,658

​

​

(16,658)

​

​

—

Operating Revenues

​

$

72,303

​

$

49,041

​

$

(16,189)

​

$

105,155

Presented below are the Electric and Coal Operations revenues reconciled to our consolidated operating revenues for the nine months ended September 30, 2025 (in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Corporate and Other

​

​

Reconciliation of Revenue:

​

Electric Operations

​

Coal Operations

​

and Eliminations

​

Consolidated

Delivered Energy

$

194,044

$

—

$

—

$

194,044

Capacity Revenue

​

​

45,110

​

​

—

​

​

—

​

​

45,110

Other Revenue

​

​

3,413

​

​

4,370

​

​

997

​

​

8,780

Coal Sales (Third-Party)

​

​

—

​

​

119,588

​

​

—

​

​

119,588

Coal Sales (Intercompany)

​

​

—

​

​

49,529

​

​

(49,529)

​

​

—

Operating Revenues

​

$

242,567

​

$

173,487

​

$

(48,532)

​

$

367,522

Presented below are the Electric and Coal Operations revenues reconciled to our consolidated operating revenues for the nine months ended September 30, 2024 (in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Corporate and Other

​

​

Reconciliation of Revenue:

​

Electric Operations

​

Coal Operations

​

and Eliminations

​

Consolidated

Delivered Energy

$

148,490

$

—

$

—

​

$

148,490

Capacity Revenue

​

​

44,506

​

​

—

​

​

—

​

​

44,506

Other Revenue

​

​

518

​

​

2,028

​

​

1,139

​

​

3,685

Coal Sales (Third-Party)

​

​

—

​

​

114,093

​

​

—

​

​

114,093

Coal Sales (Intercompany)

​

​

—

​

​

45,973

​

​

(45,973)

​

​

—

Operating Revenues

​

$

193,514

​

$

162,094

​

$

(44,834)

​

$

310,774

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 for the three months ended September 30, 2025 (in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

Reconciliation of Income (Loss)

​

​

​

​

​

​

​

Corporate and Other

​

​

before Income Taxes:

​

Electric Operations

​

Coal Operations

​

and Eliminations

​

Consolidated

Electric Operations — EBITDA Margin

$

25,911

$

—

$

18,206

$

44,117

Coal Operations — EBITDA Margin

​

​

—

​

​

8,837

​

​

(17,558)

​

​

(8,721)

Other Operating Revenue

​

​

192

​

​

1,647

​

​

516

​

​

2,355

Depreciation, Depletion and Amortization

​

​

(5,131)

​

​

(3,992)

​

​

(19)

​

​

(9,142)

Asset Retirement Obligations Accretion

​

​

(126)

​

​

(320)

​

​

—

​

​

(446)

Exploration Costs

​

​

—

​

​

(38)

​

​

—

​

​

(38)

Gain (loss) on disposal or abandonment of assets, net

​

​

—

​

​

2,334

​

​

—

​

​

2,334

Interest Expense

​

​

(2,585)

​

​

(2,342)

​

​

—

​

​

(4,927)

Equity Method Investment (Loss)

​

​

—

​

​

—

​

​

(248)

​

​

(248)

Corporate — General and Administrative

​

​

—

​

​

—

​

​

(1,400)

​

​

(1,400)

Income (Loss) before Income Taxes

​

$

18,261

​

$

6,126

​

$

(503)

​

$

23,884

​

Presented below is our reconciliation of EBITDA Margin to the most comparable GAAP account, income (loss) before income taxes for the three months ended September 30, 2024 (in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

Reconciliation of Income (Loss)

​

​

​

​

​

​

​

Corporate and Other

​

​

before Income Taxes:

​

Electric Operations

​

Coal Operations

​

and Eliminations

​

Consolidated

Electric Operations — EBITDA Margin

$

24,085

$

—

$

16,998

$

41,083

Coal Operations — EBITDA Margin

​

​

—

​

​

(3,820)

​

​

(16,658)

​

​

(20,478)

Other Operating Revenue

​

​

187

​

​

721

​

​

469

​

​

1,377

Depreciation, Depletion and Amortization

​

​

(4,802)

​

​

(9,013)

​

​

(23)

​

​

(13,838)

Asset Retirement Obligations Accretion

​

​

(115)

​

​

(295)

​

​

—

​

​

(410)

Exploration Costs

​

​

—

​

​

(62)

​

​

—

​

​

(62)

Gain (loss) on disposal or abandonment of assets, net

​

​

—

​

​

290

​

​

—

​

​

290

Interest Expense

​

​

(181)

​

​

(2,511)

​

​

—

​

​

(2,692)

Loss on Extinguishment of Debt

​

​

—

​

​

—

​

​

—

​

​

—

Equity Method Investment (Loss)

​

​

—

​

​

—

​

​

(234)

​

​

(234)

Corporate — General and Administrative

​

​

—

​

​

—

​

​

(3,136)

​

​

(3,136)

Corporate — Other Operating and Maintenance Costs

​

​

—

​

​

—

​

​

(114)

​

​

(114)

Income (Loss) before Income Taxes

​

$

19,174

​

$

(14,690)

​

$

(2,698)

​

$

1,786

Presented below is our reconciliation of EBITDA Margin to the most comparable GAAP account, income (loss) before

income taxes for the nine months ended September 30, 2025 (in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Reconciliation of Income (Loss)

​

​

​

​

​

​

​

Corporate and Other

​

​

before Income Taxes:

​

Electric Operations

​

Coal Operations

​

and Eliminations

​

Consolidated

Electric Operations — EBITDA Margin

$

67,671

$

—

$

48,322

$

115,993

Coal Operations — EBITDA Margin

​

​

—

​

​

17,175

​

​

(49,529)

​

​

(32,354)

Other Operating Revenue

​

​

3,413

​

​

4,370

​

​

997

​

​

8,780

Depreciation, Depletion and Amortization

​

​

(15,456)

​

​

(14,148)

​

​

(57)

​

​

(29,661)

Asset Retirement Obligations Accretion

​

​

(369)

​

​

(941)

​

​

—

​

​

(1,310)

Exploration Costs

​

​

—

​

​

(157)

​

​

—

​

​

(157)

Gain (loss) on disposal or abandonment of assets, net

​

​

—

​

​

2,410

​

​

—

​

​

2,410

Interest Expense

​

​

(6,208)

​

​

(6,261)

​

​

—

​

​

(12,469)

Equity Method Investment (Loss)

​

​

—

​

​

—

​

​

(287)

​

​

(287)

Corporate — General and Administrative

​

​

—

​

​

—

​

​

(8,834)

​

​

(8,834)

Income (Loss) before Income Taxes

​

$

49,051

​

$

2,448

​

$

(9,388)

​

$

42,111

Presented below is our reconciliation of EBITDA Margin to the most comparable GAAP account, income (loss) before income taxes for the nine months ended September 30, 2024 (in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Reconciliation of Income (Loss)

​

​

​

​

​

​

​

Corporate and Other

​

​

before Income Taxes:

​

Electric Operations

​

Coal Operations

​

and Eliminations

​

Consolidated

Electric Operations — EBITDA Margin

$

55,408

$

—

$

47,405

$

102,813

Coal Operations — EBITDA Margin

​

​

—

​

​

(7,802)

​

​

(45,973)

​

​

(53,775)

Other Operating Revenue

​

​

518

​

​

2,028

​

​

1,139

​

​

3,685

Depreciation, Depletion and Amortization

​

​

(14,197)

​

​

(28,671)

​

​

(62)

​

​

(42,930)

Asset Retirement Obligations Accretion

​

​

(339)

​

​

(869)

​

​

—

​

​

(1,208)

Exploration Costs

​

​

—

​

​

(179)

​

​

—

​

​

(179)

Gain (loss) on disposal or abandonment of assets, net

​

​

—

​

​

536

​

​

—

​

​

536

Interest Expense

​

​

(515)

​

​

(8,908)

​

​

(941)

​

​

(10,364)

Loss on Extinguishment of Debt

​

​

—

​

​

—

​

​

(2,790)

​

​

(2,790)

Equity Method Investment (Loss)

​

​

—

​

​

—

​

​

(740)

​

​

(740)

Corporate — General and Administrative

​

​

—

​

​

—

​

​

(8,446)

​

​

(8,446)

Corporate — Other Operating and Maintenance Costs

​

​

—

​

​

—

​

​

(337)

​

​

(337)

Income (Loss) before Income Taxes

​

$

40,875

​

$

(43,865)

​

$

(10,745)

​

$

(13,735)

Schedule of segment assets and capital expenditures

Presented below are our Electric and Coal Operations assets and capital expenditures for the periods presented below (in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Corporate and Other

​

​

Other Reconciliations:

​

Electric Operations

​

Coal Operations

​

and Eliminations

​

Consolidated

Assets at September 30, 2025

$

233,865

$

153,514

$

22,082

$

409,461

Assets at December 31, 2024

​

$

220,477

​

$

144,519

​

$

4,124

​

$

369,120

Capital Expenditures at September 30, 2025

​

$

25,369

​

$

18,908

​

$

—

​

$

44,277

​

Presented below are our Electric and Coal Operations assets and capital expenditures for the periods presented below (in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Corporate and Other

​

​

Other Reconciliations:

​

Electric Operations

​

Coal Operations

​

and Eliminations

​

Consolidated

Assets at September 30, 2024

$

217,826

$

357,913

$

3,991

$

579,730

Assets at December 31, 2023

​

$

208,331

​

$

376,387

​

$

5,062

​

$

589,780

Capital Expenditures at September 30, 2024

​

$

16,121

​

$

23,002

​

$

483

​

$

39,606

​

X

- Definition

Tabular disclosure of long-lived assets, excluding financial instruments, long-term customer relationships of a financial institution, mortgage rights, deferred policy acquisition costs, and deferred tax assets, by geographic areas located in the entity's country of domicile and foreign countries in which the entity holds assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-41

+ Details

Name:	us-gaap_LongLivedAssetsByGeographicAreasTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-31

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

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Tabular disclosure of all significant reconciling items in the reconciliation of total revenues from reportable segments to the entity's consolidated revenues.

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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.

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No definition available.

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