INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Components of Net Deferred Tax Assets (Liabilities)

Components of our net deferred tax liability are as follows (dollars in thousands):

	December 31, 2023		December 31, 2022
Deferred tax assets
Net operating loss carryforwards	$	192,591	$	165,636
Operating lease liabilities	94,862		105,039
Deferred revenues and membership withdrawal	4,812		16,028
Safe harbor lease receivables	9,379		8,939
Other	34,171		43,795
	335,815		339,437
Less valuation allowance	—		—
	335,815		339,437
Deferred tax liabilities
Basis differences- property, plant and equipment and other	168,948		166,568
Operating lease right-of-use assets	121,125		125,939
Capital credits from other associations	35,638		34,236
Deferred debt prepayment transaction costs	25,327		27,381
Other	—		4,588
	351,038		358,712
Net deferred tax liability	$	(15,223)	$	(19,275)

Schedule of Effective Income Tax Reconciliation

The reconciliation between the statutory federal income tax rate and the effective tax rate is as follows (dollars in thousands):

	2023		2022		2021
Pretax GAAP income at Federal statutory rate	2,118		—		5,435
Pretax GAAP income at State statutory rate, net of federal benefit	282		—		725
Patronage exclusion	(2,401)		—		(6,159)
Asset retirement and environmental reclamation obligations	(6,302)		16,655		10,917
Deferred revenues and membership withdrawal	(11,216)		(22,759)		18,673
Operating liabilities, net of right-of-use assets (1)	(5,281)		(4,919)		1,165
Valuation Allowance	—		—		—
Net operating loss carryforward	26,955		21,034		(27,539)
Other items, net	(4,690)		(9,445)		(2,531)
Impairment	—		—		—
Regulatory treatment of deferred taxes	539		(815)		(391)
Total deferred income tax expense (benefit)	$	4	$	(249)	$	295

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(1)Net deferred tax liability established as a result of adopting ASC 842. See Note 11 - Leases.