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Asset Retirement Obligations | 3 Months Ended
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Mar. 31, 2025
Asset Retirement Obligation Disclosure [Abstract] |
Asset Retirement Obligations | NOTE 8 – ASSET RETIREMENT OBLIGATIONS The Company accounts for asset retirement obligations by recording the fair value of the liability in the period in which it is incurred. The Company estimates the fair value of asset retirement obligations by calculating the estimated present value of the cost to retire the asset. Factors that are considered when determining the present value of the cost to retire the asset include future inflation and discount rates, along with estimates date(s) of retiring the asset. Additionally, changes in legal, regulatory, environmental, and political environments can affect the fair value of the obligations. As such, asset retirement obligations are considered a level 3 financial instrument. The $218 change in estimates for the year ended December 31, 2024 was due to RNG fuel supply agreement extensions and an RNG project that necessitated reassessment. The $225 reduction in the liability was due to an REG site sale as described in Note 3. The following table summarizes the activity associated with asset retirement obligations of the Company as of March 31, 2025 and December 31, 2024:
| Three Months Ended March 31, |  |  | Year Ended December 31, |
| 2025 |  |  | 2024 |
Asset retirement obligations—beginning of period | $ | 6,338 |  |  | $ | 5,900 |
Accretion expense |  | 118 |  |  |  | 445 |
Changes in estimate | — |  |  |  | 218 |
Liabilities associated with properties sold | — |  |  |  | (225 | )
Asset retirement obligations—end of period | $ | 6,456 |  |  | $ | 6,338 |

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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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