XML 31 R9.htm IDEA: XBRL DOCUMENT v3.5.0.2
Properties, Plant and Equipment
6 Months Ended
Jun. 30, 2016
Property, Plant and Equipment [Abstract]  
Properties, Plant and Equipment
Properties, Plant and Equipment

The Company sold land and equipment with a book value of approximately $2.4 million during the six months ended June 30, 2016, and recorded a gain on the sale of that land and equipment totaling $0.6 million. As of June 30, 2016, $0.7 million of the proceeds associated with sale had not yet been collected and is recognized as prepaid expenses and other current assets on the balance sheet.

During the three and six months ended June 30, 2016, the Company recognized depreciation expense of $1.5 million and $2.9 million, respectively. Depreciation expense for the three and six-month periods ended June 30, 2015, was $1.6 million and $3.2 million, respectively.

Assets Held For Sale

During the second quarter of 2016, the Company committed to a plan to sell certain mining equipment and land and buildings. As of June 30, 2016, the Company had assets with a net book value of $4.3 million that met the criteria to be held for sale. Those criteria specify that the asset must be available for immediate sale in its present condition (subject only to terms that are usual and customary for sales of such assets) and the sale of the asset must be probable, and its transfer expected to qualify for recognition as a completed sale, within one year, with certain exceptions.