XML 34 R16.htm IDEA: XBRL DOCUMENT v3.5.0.2
Asset Retirement Obligation
 6 Months Ended
Jun. 30, 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 has been substantially completed primarily 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 six months of 2016 and 2015:

 

In thousands

    2016     2015  

Balance at January 1,

    $ 419      $ 4,114   

Accretion

      —          59   

Payments

      (16 )      (1,905 ) 

Downward revision

      —          (1,000 ) 

Gain

      (2 )      (286 ) 
  

 

 

    

 

 

  

Balance at June 30,

    $ 401      $ 982   
  

 

 

    

 

 

  

The amount set forth above as of June 30, 2016, is recorded in other current liabilities in the accompanying condensed consolidated balance sheet.