SEGMENTS OF BUSINESS (Tables)

9 Months Ended

Sep. 30, 2024

SEGMENTS OF BUSINESS

Schedule of operations of primary reportable segments

	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
	(in thousands)				(in thousands)
Operating revenues
Electric operations(i)	$	71,902	$	67,544	$	192,379	$	231,141
Coal operations		49,331		134,896		162,630		343,267
Corporate and other and eliminations		(16,189)		(36,672)		(44,834)		(59,112)
Consolidated operating revenues	$	105,044	$	165,768	$	310,175	$	515,296
Operating expenses
Electric operations	$	52,547	$	70,220	$	150,989	$	205,856
Coal operations		61,510		110,132		197,587		279,052
Corporate and other and eliminations		(13,725)		(38,387)		(38,560)		(44,892)
Consolidated operating expenses	$	100,332	$	141,965	$	310,016	$	440,016
Income (loss) from operations
Electric operations	$	19,355	$	(2,676)	$	41,390	$	25,285
Coal operations		(12,179)		24,764		(34,957)		64,215
Corporate and other and eliminations		(2,464)		1,715		(6,274)		(14,220)
Consolidated income (loss) from operations	$	4,712	$	23,803	$	159	$	75,280
Depreciation, depletion and amortization
Electric operations	$	4,802	$	4,695	$	14,197	$	14,045
Coal operations		9,013		11,508		28,671		37,249
Corporate and other and eliminations		23		27		62		81
Consolidated depreciation, depletion and amortization	$	13,838	$	16,230	$	42,930	$	51,375
Assets
Electric operations	$	217,826	$	209,455	$	217,826	$	209,455
Coal operations		356,252		375,682		356,252		375,682
Corporate and other and eliminations		5,652		49		5,652		49
Consolidated assets	$	579,730	$	585,186	$	579,730	$	585,186
Capital expenditures
Electric operations	$	4,602	$	6,566	$	16,121	$	10,092
Coal operations		6,810		11,570		23,002		38,654
Corporate and other and eliminations		150		—		483		—
Consolidated capital expenditures	$	11,562	$	18,136	$	39,606	$	48,746

(i). Electric operations revenue as of each period presented were comprised of the components noted below (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Operating revenues:
Capacity revenue	$	15,860	$	13,012	$	44,506	$	46,137
Delivered energy		44,549		44,110		111,181		121,492
Amortization of contract liability		11,306		10,281		36,174		63,183
Other operating revenue		187		141		518		329
Total Electric Operations revenue:	$	71,902	$	67,544	$	192,379	$	231,141