XML 38 R25.htm IDEA: XBRL DOCUMENT v3.7.0.1
Subsequent Events
6 Months Ended
Jun. 30, 2017
Subsequent Events [Abstract]  
Subsequent Events
Subsequent Events

On July 21, 2017, the Company entered into a definitive agreement to sell Lone Mountain Processing LLC, an operating mine complex within the Company’s metallurgical coal segment, and two idled mining companies, Cumberland River Coal LLC and Powell Mountain Energy LLC to Revelation Energy LLC. The purchase price is $8.3 million in cash, subject to customary adjustments for working capital and other items; the Company will retain certain workers’ compensation and employee-related obligations . The transaction is expected to close during the third quarter of 2017 and generate a net gain of approximately $15-20 million. The operations of Lone Mountain Processing LLC sold 0.7 million tons of coal in the first six months of 2017 while generating a pre-tax loss of $3.1 million.