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Leases (Tables)
 6 Months Ended
Jun. 30, 2024
Leases [Abstract]  
Schedule of balance sheet impact of leases
We combine lease and nonlease components for all lease agreements.
ClassificationJune 30, 2024December 31, 2023
(dollars in thousands)
Right-of-use assets—Finance leases  
Right-of-use assets$302,732 $302,732 
Less: Accumulated provision for depreciation(280,782)(278,586)
Total finance lease assets$21,950 $24,146 
Lease liabilities—Finance leases
Obligations under finance leases$38,520 $43,586 
Long-term debt and finance leases due within one year9,868 9,351 
Total finance lease liabilities$48,388 $52,937 
ClassificationJune 30, 2024December 31, 2023
(dollars in thousands)
Right-of-use assets—Operating leases  
Electric plant in service, net$8,502 $6,587 
Total operating lease assets$8,502 $6,587 
Lease liabilities—Operating leases
Capitalization—Other$6,588 $5,152 
Other current liabilities1,914 1,529 
Total operating lease liabilities$8,502 $6,681 
Schedule of lease cost
 Three months endedSix months ended
Lease CostClassificationJune 30, 2024June 30, 2023June 30, 2024June 30, 2023
 (dollars in thousands)
Finance lease cost:   
Amortization of leased assetsDepreciation and amortization$2,338 $2,100 $4,676 $4,199 
Interest on lease liabilitiesInterest expense1,399 1,638 2,799 3,276 
Operating lease cost:
Inventory(1) & production expense
582 328 1,120 657 
    Total leased cost $4,319 $4,066 $8,595 $8,132 
(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
June 30, 2024December 31, 2023
Lease Term and Discount Rate:  
Weighted-average remaining lease term (in years)  
Finance leases4.815.26
Operating leases5.315.77
Weighted-average discount rate:
Finance leases11.05 %11.05 %
Operating leases6.34 %6.37 %
Schedule of cash paid for amounts included in the measurement of lease liabilities
Six months ended June 30,
20242023
(dollars in thousands)
Other Information:  
Cash paid for amounts included in the measurement of lease liabilities  
Operating cash flows from finance leases$2,925 $3,389 
Operating cash flows from operating leases$1,214 $657 
Financing cash flows from finance leases$4,550 $4,086 
Right-of-use assets obtained in exchange for new operating lease liabilities$2,791 $— 
Schedule of maturities of finance lease liabilities
Maturity analysis of our finance and operating lease liabilities as of June 30, 2024 is as follows:
(dollars in thousands)
Year Ending December 31,Finance LeasesOperating LeasesTotal
2024$7,475 $1,236 $8,711 
202514,949 2,353 17,302 
202614,949 2,061 17,010 
202714,949 1,784 16,733 
20283,052 1,674 4,726 
Thereafter7,631 884 8,515 
Total lease payments$63,005 $9,992 $72,997 
Less: imputed interest(14,617)(1,490)(16,107)
Present value of lease liabilities$48,388 $8,502 $56,890 
Schedule of maturities of operating lease liabilities
Maturity analysis of our finance and operating lease liabilities as of June 30, 2024 is as follows:
(dollars in thousands)
Year Ending December 31,Finance LeasesOperating LeasesTotal
2024$7,475 $1,236 $8,711 
202514,949 2,353 17,302 
202614,949 2,061 17,010 
202714,949 1,784 16,733 
20283,052 1,674 4,726 
Thereafter7,631 884 8,515 
Total lease payments$63,005 $9,992 $72,997 
Less: imputed interest(14,617)(1,490)(16,107)
Present value of lease liabilities$48,388 $8,502 $56,890 
Schedule of lease income
Lease income recognized during the three and six months ended June 30, 2024 and 2023 was as follows:
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
(dollars in thousands)
Lease income$1,392 $1,691 $2,779 $3,376