Asset Impairment Review

12 Months Ended

Dec. 31, 2018

Asset Impairment Review [Abstract]

Asset Impairment Review

(2)Asset Impairment Review

Carlisle Mine

In July 2018, we restarted production at the Carlisle Mine and began shipping coal to customers.  We conducted a review of the Carlisle Mine assets as of December 31, 2018, based on estimated future net cash flows, and determined that no impairment to the aggregate net carrying value of $107 million was necessary.  If, in future periods, we reduce our estimate of the future net cash flows attributable to the Carlisle Mine, it may result in future impairment of such assets and such charges could be significant. 

Bulldog Reserves

In October 2017, we entered into an agreement to sell land associated with the Bulldog reserves for $4.9 million.  As part of the transaction, we hold the rights to repurchase the property for eight years at the original sale price of $4.9 million plus interest.  We accounted for the sale as a financing transaction with the liability recorded in other long-term liabilities.  The Bulldog assets had an aggregate net carrying value of $15 million at December 31, 2018.  Also, in October 2017, the Illinois Department of Natural Resources (ILDNR) notified us that our mine application, along with modifications, was acceptable. In October 2018, we paid the required fee and bond and the permit is expected to be issued in the near future.  We have determined that no impairment is necessary. If estimates inherent in the assessment change, it may result in future impairment of the assets.