XML 120 R27.htm IDEA: XBRL DOCUMENT v3.22.2.2
Leases (Tables)
 9 Months Ended
Sep. 30, 2022
Leases [Abstract]  
Schedule of balance sheet impact of leases For lease agreements entered into or reassessed after the adoption of the new leases standard, we combine lease and nonlease components.
ClassificationSeptember 30, 2022December 31, 2021
(dollars in thousands)
Right-of-use assets—Finance leases  
Right-of-use assets$302,732 $302,732 
Less: Accumulated provision for depreciation(271,559)(267,606)
Total finance lease assets$31,173 $35,126 
Lease liabilities—Finance leases
Obligations under finance leases$57,249 $61,335 
Long-term debt and finance leases due within one year7,958 7,541 
Total finance lease liabilities$65,207 $68,876 
ClassificationSeptember 30, 2022December 31, 2021
(dollars in thousands)
Right-of-use assets—Operating leases  
Electric plant in service, net$1,664 $2,293 
Total operating lease assets$1,664 $2,293 
Lease liabilities—Operating leases
Capitalization—Other$960 $1,550 
Other current liabilities718 838 
Total operating lease liabilities$1,678 $2,388 
Schedule of lease cost
 Three months endedNine months ended
Lease CostClassificationSeptember 30, 2022September 30, 2021September 30, 2022September 30, 2021
 (dollars in thousands)
Finance lease cost:   
Amortization of leased assetsDepreciation and amortization$1,885 $1,693 $5,656 $4,726 
Interest on lease liabilitiesInterest expense1,852 2,045 5,556 6,133 
Operating lease cost:
Inventory(1) & production expense
222 270 666 809 
    Total leased cost $3,959 $4,008 $11,878 $11,668 
(1) The majority of our operating lease costs relate to our railcar leases and such costs are added to the cost of our fossil-fuel inventories and are recognized in fuel expense as the inventories are consumed.
Summary of lease terms and discount rates
September 30, 2022December 31, 2021
Lease Term and Discount Rate:  
Weighted-average remaining lease term (in years)  
Finance leases6.176.90
Operating leases9.888.01
Weighted-average discount rate:
Finance leases11.05 %11.05 %
Operating leases4.97 %4.73 %
Schedule of cash paid for amounts included in the measurement of lease liabilities
Nine months ended September 30,
20222021
(dollars in thousands)
Other Information:  
Cash paid for amounts included in the measurement of lease liabilities  
Operating cash flows from finance leases$3,806 $4,180 
Operating cash flows from operating leases$747 $890 
Financing cash flows from finance leases$3,669 $3,295 
Right-of-use assets obtained in exchange for new operating lease liabilities$— $— 
Schedule of maturities of operating lease liabilities Maturity analysis of our finance and operating lease liabilities as of September 30, 2022 is as follows:
(dollars in thousands)
Year Ending December 31,Finance LeasesOperating LeasesTotal
2022$7,475 $182 $7,657 
202314,949 708 15,657 
202414,949 234 15,183 
202514,949 72 15,021 
202614,949 72 15,021 
Thereafter25,634 940 26,574 
Total lease payments$92,905 $2,208 $95,113 
Less: imputed interest(27,698)(530)(28,228)
Present value of lease liabilities$65,207 $1,678 $66,885 
Schedule of maturities of finance lease liabilities Maturity analysis of our finance and operating lease liabilities as of September 30, 2022 is as follows:
(dollars in thousands)
Year Ending December 31,Finance LeasesOperating LeasesTotal
2022$7,475 $182 $7,657 
202314,949 708 15,657 
202414,949 234 15,183 
202514,949 72 15,021 
202614,949 72 15,021 
Thereafter25,634 940 26,574 
Total lease payments$92,905 $2,208 $95,113 
Less: imputed interest(27,698)(530)(28,228)
Present value of lease liabilities$65,207 $1,678 $66,885 
Schedule of lessor's income from leases Lease income recognized during the three and nine months ended September 30, 2022 and 2021 was as follows:
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
(dollars in thousands)
Lease income$1,651 $1,603 $4,965 $4,806