Alpha Metallurgical Resources Inc
For the period ended Dec 31, 2023. Filed Feb 26, 2024.
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FY2023 · Filed Feb 26, 2024
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(8) Property, Plant, and Equipment, Net
Property, plant, and equipment, net, consisted of the following:
| December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| Plant and mining equipment | $890,327 | $723,056 |
| Mine development | 162,285 | 130,144 |
| Land | 32,033 | 27,937 |
| Office equipment, software and other | 5,356 | 3,111 |
| Construction in progress | 57,896 | 49,583 |
| Total property, equipment and mine development costs | $1,147,897 | $933,831 |
| Less accumulated depreciation and amortization | (558,905) | (491,186) |
| Total property, plant, and equipment, net | $588,992 | $442,645 |
Included in plant and mining equipment are assets under financing leases totaling $10,964 and $13,139 with accumulated depreciation of $5,015 and $7,710 as of December 31, 2023 and 2022, respectively.
Depreciation and amortization expense associated with property, plant, equipment and non-mineral asset retirement obligation assets, net, was $112,925, $84,542, and $86,506 for the years ended December 31, 2023, 2022, and 2021 respectively.
Depreciation expense for the years ended December 31, 2023, 2022, and 2021 includes an expense of $7,343, and credits of ($1,344) and ($307), respectively, related to revisions to asset retirement obligations. Refer to Note 15 for further disclosures related to asset retirement obligations.
As of December 31, 2023, the Company had unconditional purchase obligations for approximately $48,557 of new equipment purchase commitments expected to be acquired at various dates in 2024.
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