Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2016

Computation of Depreciation of Property and Equipment

Property and equipment; depreciation expense. We state property and equipment at acquisition cost, including capitalized interest on borrowings during the actual construction period of major capital projects. In 2014, 2015 and 2016 we capitalized $2.9 million, $1.1 million and $1.0 million, respectively, of interest costs. We compute depreciation of property and equipment for financial reporting purposes (including mining equipment) principally by the straight-line method over the estimated useful lives of the assets as follows:

Asset		Useful lives
Buildings and improvements		10 to 40 years
Machinery and equipment		3 to 20 years
Mine development costs		Units-of-production
Landfill disposal costs		Units-of-consumption