Leases (Tables)

3 Months Ended

Mar. 31, 2019

Schedule of balance sheet impact of leases


		March 31,		December 31,
	Classification	2019		2018
		(dollars in thousands)
Right-of-Use Assets
Finance	Right-of-use assets – finance leases(1)	$	49,181	$	50,499
Operating	Electric plant in service		5,714		—
Total leased assets		$	54,895	$	50,499

Liabilities
Current:
Finance	Long term debt and finance leases due within one year	$	5,462	$	5,462
Operating	Other current liabilities		3,533		—
Noncurrent:
Finance	Obligation under finance leases		81,730		81,730
Operating	Capitalization – Other		2,751	$	—
Total lease liabilities		$	93,476	$	87,192

⁽¹⁾

Finance lease right-of-use assets are recorded net of accumulated depreciation of $253,551,000 and $252,233,000 as of March 31, 2019 and December 31, 2018, respectively.

Schedule of lease cost


		Three months ended
		March 31,		March 31,
Lease Cost	Classification	2019		2018
		(dollars in thousands)
Finance lease cost:
Amortization of leased assets	Depreciation and amortization	$	1,189	$	1,050
Interest on lease liabilities	Interest expense		2,372		2,511
Operating lease cost	Inventory(1) & production expense		883		1,230
Total leased cost		$	4,444	$	4,791

⁽¹⁾

The majority of our operating lease costs relates to our railcar leases and such costs are added to the cost of our fossil inventories and are recognized in fuel expense as the inventories are consumed.

Summary of lease terms and discount rates


	March 31,		December 31,
	2019		2018
Lease Term and Discount Rate:
Weighted-average remaining lease term (in years)
Finance leases	9.57		9.82
Operating leases	4.89		N/A

Weighted-average discount rate
Finance leases	11.05	%	11.05	%
Operating leases	5.06	%	N/A

Schedule of cash paid for amounts included in the measurement of lease liabilities


	Three months ended
	March 31,		March 31,
	2019		2018
	(dollars in thousands)
Other Information:
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	772	$	—
Right-of-use assets obtained in exchange for new operating lease liabilities	$	6,983	$	—

Schedule of maturities of finance and operating lease liabilities

Maturity analysis of our finance and operating lease liabilities as of March 31, 2019 is as follows:


	(in thousands)
Year Ending December 31,	Finance Leases		Operating Leases		Total
2019	$	14,949	$	2,958	$	17,907
2020		14,949		1,413		16,362
2021		14,949		798		15,747
2022		14,949		608		15,557
2023		14,949		386		15,335
Thereafter		70,483		1,156		71,639
Total lease payments		145,228		7,319		152,547
Less: imputed interest		(58,036)		(1,035)		(59,071)
Present value of lease liabilities	$	87,192	$	6,284	$	93,476

Schedule of lessor's income from leases

Three months ended

(dollars in thousands)

Lease income