Commitments and Contingent Liabilities (Tables)

9 Months Ended

Sep. 30, 2023

Commitments and Contingencies Disclosure [Abstract]

The following table summarizes the discount rate utilized, active claims and the total black lung liabilities as of December 31, 2022. Our independent actuarial consultants calculate the present value of the black lung liability annually in the fourth quarter, unless there are changes in facts and circumstances that could materially alter the amount of the liability. Therefore, the discount rate and active claims data utilized to estimate the liability as of December 31, 2022 are not updated as of September 30, 2023. Changes in the black lung liability from December 31, 2022 to September 30, 2023 are a result of actual black lung benefit payments made of $4.1 million and accretion of the black lung liability of $6.0 million during the nine months ended September 30, 2023. The black lung liability at September 30, 2023 was $60.0 million.


	December 31, 2022
Discount rate(1)	4.9		%
Active claims	332
Total black lung liability, discounted (dollars in millions)(2)	$	58.1
Total black lung liability, undiscounted (dollars in millions)	$	88.4

(1)The discount rate is determined based on a portfolio of high-quality corporate bonds with maturities that are consistent with the estimated duration of our black lung obligations. A decrease of 25 basis points in the discount rate would have increased black lung expense by $1.1 million in 2022.

(2)The current portion of the black lung liability was $5.9 million at both September 30, 2023 and December 31, 2022, and is included in accrued liabilities on the Consolidated Balance Sheets.

The following table reconciles the expected aggregate undiscounted amount to amounts recognized in Consolidated Balance Sheets:


	December 31, 2022
	(Dollars in millions)
Black lung liability, undiscounted	$	88.4
Impact of discounting	(30.3)
Black lung liability, discounted	$	58.1

Schedule of Other Commitments

Expected payments for each of the five succeeding years and the aggregate amount thereafter as of December 31, 2022:


	(Dollars in millions)
2023	$	5.9
2024	4.7
2025	5.2
2026	4.7
2027	4.4
2028-Thereafter	63.5
Total	$	88.4