ALLIANCE RESOURCE PARTNERS LP
For the period ended Dec 31, 2024. Filed Feb 27, 2025.
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FY2024 · Filed Feb 27, 2025
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9. Long-Lived Asset Impairments
On November 15, 2024, we issued Worker Adjustment and Retraining Notification Act notices to the employees of our MC Mining, LLC (“MC Mining”) mining complex, which is primarily included in our Appalachia Coal Operations reportable segment. The notices were issued primarily in response to market uncertainty, challenging geology and higher costs which has led to the decision to reduce production at the mine. Accordingly, we adjusted the carrying value of MC Mining’s assets from $101.3 million to its fair value of $70.2 million resulting in an impairment charge of $31.1 million.
The fair value of the impaired assets was determined using a cost replacement approach, which represents a Level 3 fair value measurement under the fair value hierarchy. The fair value analysis used quoted prices obtained from external sources as adjusted to account for the remaining useful life of the assets.
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