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Equity Method Investments and Membership Interests in Joint Ventures
12 Months Ended
Dec. 31, 2018
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
 
Other
 
Total
Predecessor Company
 
 
 
 
 
 
 
 
 
 
January 1, 2016
 
$
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
)
 

 

 
1,728

December 31, 2016
 
$
87,493

 
$
8,581

 
$

 
$
25

 
$
96,099

Investments in affiliates
 

 
7,158

 

 

 
7,158

Advances to (distributions from) affiliates, net
 
(8,736
)
 
3,014

 

 

 
(5,722
)
Equity in comprehensive income (loss)
 
11,409

 
(2,812
)
 

 
(25
)
 
8,572

December 31, 2017
 
$
90,166

 
$
15,941

 
$

 
$

 
$
106,107

Advances to (distributions from) affiliates, net
 
(10,534
)
 
2,481

 

 

 
(8,053
)
Equity in comprehensive income (loss)
 
10,389

 
(3,767
)
 

 

 
6,622

 
 
 
 
 
 
 
 
 
 
 
December 31, 2018
 
$
90,021

 
$
14,655

 
$

 
$

 
$
104,676



 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 in Dominion Terminal Associates (“DTA”), which is accounted for under the equity method. In March 2017, the Company paid $7.2 million through an auction process held by one of the existing owners, increasing its ownership in DTA from 21.875% to 35%. 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 is not required to make any future contingent payments related to development financing for any of its equity investees.