Note 9 - Asset Retirement Obligations

6 Months Ended

Jan. 31, 2024

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		487
Liabilities settled in cash		(22	)
Balance, January 31, 2024		19,135
Asset retirement obligations, current		1,493
Asset retirement obligations, non-current	$	17,642

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

	January 31, 2024		July 31, 2023
Undiscounted amount of estimated cash flows	$	29,042	$	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	$	1,493
Fiscal 2025		1,472
Fiscal 2026		2,489
Fiscal 2027		2,509
Fiscal 2028		1,990
Remaining balance		19,089
	$	29,042