Note 9 - Asset Retirement Obligations

3 Months Ended

Oct. 31, 2023

Notes to Financial Statements

Asset Retirement Obligation Disclosure [Text Block]

NOTE 9: ASSET RETIREMENT OBLIGATIONS

Asset retirement obligations (“ARO”s) relate to future remediation and decommissioning activities for our plants, processing facilities and various projects, and are summarized as follows:

Balance, July 31, 2023	$	18,670
Accretion		242
Liabilities settled in cash		(3	)
Balance, October 31, 2023		18,909
Asset retirement obligations, current		1,515
Asset retirement obligations, non-current	$	17,394

The estimated amounts and timing of cash flows and assumptions used for ARO estimates are as follows:

	October 31, 2023		July 31, 2023
Undiscounted amount of estimated cash flows	$	29,064	$	29,064
Payable in years		1 to 23		1 to 23
Inflation rate		1.56% to 5.32%		1.56% to 5.32%
Discount rate		3.72% to 6.35%		3.72% to 6.35%

Our undiscounted amounts of estimated cash flows for the next five fiscal years and beyond are as follows:

Fiscal 2024	$	1,515
Fiscal 2025		1,472
Fiscal 2026		2,489
Fiscal 2027		2,509
Fiscal 2028		1,990
Remaining balance		19,089
	$	29,064