Intangible Assets

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

Intangible Assets

The Company has a coal supply agreement intangible asset which is subject to amortization based on units of production over the term of the lignite sales agreement which expires in 2032. The gross and net balances are set forth in the following table:

	Gross Carrying Amount		Accumulated Amortization and Impairment		Net Balance
Balance at December 31, 2023
Coal supply agreement	$	84,200	$	(78,194)	$	6,006
Balance at December 31, 2022
Coal supply agreement	$	84,200	$	(56,145)	$	28,055

Amortization expense for intangible assets was $3.0 million and $3.7 million in 2023 and 2022, respectively.

During the fourth quarter of 2023,the Company recorded a non-cash, long-lived asset impairment charge of $65.9 million. See Note 9 for further discussion of the impairment charge.