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Note 9 - Asset Retirement Obligations | 6 Months Ended
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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 |

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- Definition The entire disclosure for an asset retirement obligation and the associated long-lived asset. An asset retirement obligation is a legal obligation associated with the disposal or retirement from service of a tangible long-lived asset that results from the acquisition, construction or development, or the normal operations of a long-lived asset, except for certain obligations of lessees. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 410 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481850/410-20-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 410 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//410-20/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -SubTopic 20 -Topic 410 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481850/410-20-50-2 + Details
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