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Supplemental Financial Information
 12 Months Ended
Dec. 31, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Supplemental Financial Information Supplemental Financial Information
Supplemental Balance Sheet Information
The following table summarizes the components of "Prepaid expenses and other current assets" and "Other long-term assets, net"as presented in the Consolidated Balance Sheets:
 As of December 31,
(in thousands)20212020
Prepaid expenses and other current assets:
Prepaid expenses$2,571 $1,690 
Prepaid income taxes and income tax refunds2,782 1,605 
Other1,308 1,302 
$6,661 $4,597 
Other long-term assets:
Upfront customer consideration (1)
$6,982 $7,490 
Cabot receivable (1)
6,846 8,852 
Right of use assets, operating leases, net6,000 1,930 
Spare parts, net4,598 3,727 
Mine development costs, net5,330 4,338 
Mine reclamation asset, net1,742 1,712 
Highview investment552 552 
Other long-term assets1,193 1,388 
$33,243 $29,989 
(1) See further discussion of Upfront Customer Consideration in Note 4 and Cabot Receivable in Note 5.
Spare parts include critical spares required to support plant operations. Parts and supply costs are determined using the lower of cost or estimated replacement cost. Parts are recorded as maintenance expenses in the period in which they are consumed.
Mine development costs include acquisition costs, the cost of other development work and mitigation costs related to the Five Forks Mine and are depleted over the estimated life of the related mine reserves, which is estimated to be 13 years as of December 31, 2021. The Company performs an evaluation of the recoverability of the carrying value of mine development costs to determine if facts and circumstances indicate that their carrying value may be impaired and if any adjustment is warranted. Mine reclamation asset represents the ARO asset related to the Five Forks Mine and is depreciated over its estimated life.
The Company holds a long-term investment (the "Highview Investment") in Highview Enterprises Limited ("Highview"), a London, England based developmental stage company specializing in power storage. In November 2014, the Company acquired an 8% ownership interest in the common stock of Highview for $2.8 million in cash. The Company accounts for the
Highview Investment as an investment recorded at cost, less impairment, plus or minus observable changes in price for identical or similar investments of the same issuer.
The Highview Investment is evaluated for indicators of impairment such as an event or change in circumstances that may have a significant adverse effect on the fair value of the investment. There were no changes to the carrying value of the Highview Investment for the years ended December 31, 2021 and 2020 as there were no indicators of impairment or observable price changes for equity issued by Highview. Since inception of Highview Investment, the Company has recognized $2.2 million of cumulative impairment losses.
The following table details the components of "Other current liabilities" and "Other long-term liabilities" as presented in the Consolidated Balance Sheets:
 As of December 31,
(in thousands)20212020
Other current liabilities:
Current portion of operating lease obligations$2,157 $1,883 
Accrued interest— 69 
Income and other taxes payable807 1,305 
Current portion of mine reclamation liability1,775 9,370 
Other current liabilities385 369 
$5,124 $12,996 
Other long-term liabilities:
Operating lease obligations, long-term$4,178 $1,109 
Mine reclamation liabilities8,184 12,077 
Other— 287 
$12,362 $13,473 
The Mine reclamation liability related to the Five Forks Mine is included in Other long-term liabilities. The Mine reclamation liability related to Marshall Mine, which was assumed in the Marshall Mine Acquisition is included in Other current liabilities" and "Other long-term liabilities." The Mine reclamation liabilities represent AROs. Changes in the AROs were as follows:
As of December 31,
(in thousands)20212020
Asset retirement obligations, beginning of year$21,447 $2,721 
Asset retirement obligations assumed— 21,328 
Accretion1,102 543 
Liabilities settled(10,010)(3,565)
Changes due to scope and timing of reclamation(2,580)420 
Asset retirement obligations, end of year9,959 21,447 
Less current portion1,775 9,370 
Asset retirement obligations, long-term$8,184 $12,077 
Supplemental Consolidated Statements of Operations Information
Gain on Settlement
On December 29, 2020, the Company and a former customer (the "Parties") reached a settlement (the "Settlement") on various litigation matters (the "Litigation Matters") that resulted in the former customer (the "Former Customer") agreeing to pay to the Company cash of $2.5 million (the "Settlement Amount"), which was received on January 27, 2021. This payment was in exchange for full dissolution of all claims and counterclaims that the two Parties asserted or could have asserted against each other in the Litigation Matters, or which have arisen or may arise against each other but are presently unknown, arising out of or related to the Litigation Matters and related to any other of the Parties’ business dealings, conduct and/or transactions through
the date of the Settlement, including all claims for damages, fees, costs, sanctions, or any other amounts due or to become due in connection with the foregoing.
The Company applied the Settlement Amount cash proceeds to both an outstanding trade account receivable and note receivable due from the Former Customer and recognized the excess cash received as a gain of $1.1 million, which is reported as "Gain on settlement" as a component of operating expenses in the Consolidated Statements of Operations for the year ended December 31, 2020.
Gain on Change in estimate, asset retirement obligation
As discussed in Note 4, for the year ended December 31, 2021, recorded a gain on change in estimate of $2.7 million based on its revisions in its estimate of future obligations owed for the reclamation of Marshall Mine.
The following table details the components of "Interest expense" in the Consolidated Statements of Operations:
Years Ended December 31,
(in thousands)20212020
Interest on Senior Term Loan$206 $1,708 
Debt discount and debt issuance costs945 1,418 
453A interest13 331 
Other326 463 
$1,490 $3,920 
The following table details the components of "Other"in the Consolidated Statements of Operations:
Years Ended December 31,
(in thousands)20212020
Interest income$326 $127 
Other314 5 
$640 $132