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Intangible Assets

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

Intangible Assets

Intangible assets other than goodwill, which are subject to amortization, consist of the following:

	Gross Carrying Amount				Accumulated Amortization				Net Balance
Balance at December 31, 2019
Coal supply agreement	$	84,200			$	(46,298	)		$	37,902
Balance at December 31, 2018
Coal supply agreement	$	84,200			$	(43,684	)		$	40,516

Amortization expense for intangible assets was $2.6 million and $3.0 million in 2019 and 2018, respectively.

Expected annual amortization expense of NACCO's coal supply agreement for the next five years is as follows: $3.0 million in 2020 and $3.1 million in 2021, 2022, 2023 and 2024, respectively. The coal supply agreement is amortized based on units of production over the term of the agreement, which is estimated to be 30 years.

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- Definition

The entire disclosure for goodwill and intangible assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-URI http://asc.fasb.org/topic&trid=2144416

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