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Asset Retirement Obligation
 3 Months Ended
Mar. 31, 2016
Asset Retirement Obligation Disclosure [Abstract]  
Asset Retirement Obligation
10. ASSET RETIREMENT OBLIGATION

During 2008, we recorded $11.5 million, net present value, of asset retirement obligations related to the legal requirement to close several lagoons at the Spring Grove, PA facility. Historically, lagoons were used to dispose of residual waste material. Closure of the lagoons is expected to be completed in 2016 and has primarily been accomplished by filling the lagoons, installing a non-permeable liner which will be covered with soil to construct the required cap over the lagoons. The retirement obligation was accrued with a corresponding increase in the carrying value of the property, equipment and timberlands caption on the condensed consolidated balance sheet. The amount capitalized is being amortized as a charge to operations on the straight-line basis in relation to the expected closure period.

 

Following is a summary of activity recorded during the first three months of 2016 and 2015:

 

In thousands

    2016      2015  

Balance at January 1,

    $ 419       $ 4,114   

Accretion

      —           29   

Payments

      —           (419 ) 

Gain

      —           (107 ) 
  

 

 

     

 

 

  

Balance at March 31,

    $ 419       $ 3,617   
  

 

 

     

 

 

  

The amount set forth above as of March 31, 2016, is recorded in other current liabilities in the accompanying condensed consolidated balance sheet.