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Equity Method Investments and Membership Interests in Joint Ventures
12 Months Ended
Dec. 31, 2016
Equity Method Investments and Joint Ventures [Abstract]  
Equity Method Investments and Membership Interests in Joint Ventures
Equity Method Investments and Membership Interests in Joint Ventures
 
The Company accounts for its investments and membership interests in joint ventures under the equity method of accounting if the Company has the ability to exercise significant influence, but not control, over the entity. Equity method investments are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the investments may not be recoverable.
Below are the equity method investments reflected in the consolidated balance sheets: 
(In thousands)
 
Knight Hawk
 
DTA
 
Millennium
 
Tongue River
 
Other
 
Total
Predecessor Company
 
 
 
 
 
 
 
 
 
 
 
 
January 1, 2014
 
$
152,806

 
$
14,137

 
$
35,894

 
$
18,419

 
$
200

 
$
221,456

Advances to (distributions from) affiliates, net
 
(12,603
)
 
3,774

 
6,742

 
2,541

 
3,600

 
4,054

Equity in comprehensive income (loss)
 
18,274

 
(4,173
)
 
(2,413
)
 
(220
)
 
(1,136
)
 
10,332

December 31, 2014
 
158,477

 
13,738

 
40,223

 
20,740

 
2,664

 
235,842

Advances to (distributions from) affiliates, net
 
(29,862
)
 
3,207

 
7,052

 
913

 
330

 
(18,360
)
Equity in comprehensive income (loss)
 
22,977

 
(3,706
)
 
(9,686
)
 
(328
)
 
(1,278
)
 
7,979

Impairment of equity investment
 

 

 

 
(21,325
)
 
 
 
(21,325
)
Sale of equity investment
 

 

 

 

 
(2,259
)
 
(2,259
)
December 31, 2015
 
151,592

 
13,239

 
37,589

 

 
(543
)
 
201,877

Advances to (distributions from) affiliates, net
 
(8,374
)
 
1,474

 
1,966

 

 

 
(4,934
)
Equity in comprehensive income (loss)
 
9,033

 
(2,095
)
 
(1,530
)
 

 
(94
)
 
5,314

Impairment of equity investment
 

 

 
(38,025
)
 

 

 
(38,025
)
Fresh start accounting adjustment
 
(58,251
)
 
(4,018
)
 

 

 
662

 
(61,607
)
October 1, 2016
 
$
94,000

 
$
8,600

 
$

 
$

 
$
25

 
$
102,625

Successor Company
 
 
 
 
 
 
 
 
 
 
 
 
Advances to (distributions from) affiliates, net
 
(9,076
)
 
822

 

 

 

 
(8,254
)
Equity in comprehensive income (loss)
 
2,569

 
(841
)
 

 

 
(25
)
 
1,703

 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2016
 
$
87,493

 
$
8,581

 
$

 
$

 
$

 
$
96,074



 The Company holds a 49% equity interest in Knight Hawk Holdings, LLC (“Knight Hawk”), a coal producer in the Illinois Basin.
The Company holds a general partnership interest of 21.875% in Dominion Terminal Associates (“DTA”), which is accounted for under the equity method. DTA operates a ground storage-to-vessel coal transloading facility in Newport News, Virginia for use by the partners. Under the terms of a throughput and handling agreement with DTA, each partner is charged its share of cash operating and debt-service costs in exchange for the right to use the facility’s loading capacity and is required to make periodic cash advances to DTA to fund such costs.
The Company previously held a 38% ownership interest in Millennium Bulk Terminals-Longview, LLC (“Millennium”), the owner of a brownfield bulk commodity terminal on the Columbia River near Longview, Washington. Millennium continues to work on obtaining the required approvals and necessary permits to complete dredging and other upgrades to ship coal, alumina and cementitious material from the terminal. During the second quarter of 2016, the Company recorded an impairment charge of $38.0 million representing the entire value of its equity investment as the Company relinquished its ownership rights in exchange for future throughput rights through the facility when completed.
The Company holds a 35% membership interest in the Tongue River Holding Company, LLC (“Tongue River”) joint venture. Tongue River will develop and construct a railway line near Miles City, Montana and the Company’s Otter Creek reserves. The Company had the right, upon the receipt of permits and approval for construction or under other prescribed circumstances, to require the other investors to purchase all of the Company’s units in the venture at an amount equal to the capital contributions made by the Company at that time, less any distributions received. During the third quarter of 2015, the Company recorded an impairment charge of $21.3 million representing the entire value of the Company’s investment in the project; the impairment charge is included on the line “Asset impairment and mine closure costs.”
The Company is not required to make any future contingent payments related to development financing for any of its equity investees.