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This excerpt taken from the ACI 10-K filed Mar 1, 2010. Inventories
Coal and supplies inventories are valued at the lower of average
cost or market. Coal inventory costs include labor, supplies,
equipment costs, transportation costs incurred prior to title
transfer to customers and operating overhead. Stripping costs
incurred during the production phase of the mine are considered
variable production costs and are included in the cost of coal
extracted during the period the stripping costs are incurred.
These excerpts taken from the ACI 10-K filed Feb 27, 2009. Inventories
Coal and supplies inventories are valued at the lower of average
cost or market. Coal inventory costs include labor, supplies,
equipment costs, transportation costs prior to title transfer to
customers and operating overhead. Prior to the adoption of
Emerging Issues Task Force Issue
No. 04-6,
Accounting for Stripping Costs in the Mining Industry
(“EITF 04-6”),
the Company had classified stripping costs associated with the
tons of coal uncovered and not yet extracted (pit inventory) at
its surface mining operations as coal inventory. As a result of
the adoption of
EITF 04-6
on January 1, 2006, stripping costs incurred during the
production phase of the mine are considered variable production
costs and are included in the cost of inventory extracted during
the period the stripping costs are incurred. The effect of
adopting
EITF 04-6
was a reduction of $40.7 million and $2.0 million of
inventory and deferred development costs, respectively, with a
corresponding decrease to retained earnings, net of tax, of
$26.1 million.
Inventories Coal and supplies inventories are valued at the lower of average cost or market. Coal inventory costs include labor, supplies, equipment costs, transportation costs prior to title transfer to customers and operating overhead. Prior to the adoption of Emerging Issues Task Force Issue No. 04-6, Accounting for Stripping Costs in the Mining Industry (“EITF 04-6”), the Company had classified stripping costs associated with the tons of coal uncovered and not yet extracted (pit inventory) at its surface mining operations as coal inventory. As a result of the adoption of EITF 04-6 on January 1, 2006, stripping costs incurred during the production phase of the mine are considered variable production costs and are included in the cost of inventory extracted during the period the stripping costs are incurred. The effect of adopting EITF 04-6 was a reduction of $40.7 million and $2.0 million of inventory and deferred development costs, respectively, with a corresponding decrease to retained earnings, net of tax, of $26.1 million. These excerpts taken from the ACI 10-K filed Feb 29, 2008. Inventories
Coal and supplies inventories are valued at the lower of average
cost or market. Coal inventory costs include labor, supplies,
equipment costs, transportation costs prior to title transfer to
customers and operating overhead. Prior to the adoption of
Emerging Issues Task Force Issue
No. 04-6,
Accounting for Stripping Costs in the Mining Industry
(“EITF 04-6”),
the Company had classified stripping costs associated with the
tons of coal uncovered and not yet extracted (pit inventory) at
its surface mining operations as coal inventory. As a result of
the adoption of
EITF 04-6
on January 1, 2006, stripping costs incurred during the
production phase of the mine are considered variable production
costs and are included in the cost of inventory extracted during
the period the stripping costs are incurred. The effect of
adopting
EITF 04-6
was a reduction of $40.7 million and $2.0 million of
inventory and deferred development costs, respectively, with a
corresponding decrease to retained earnings, net of tax, of
$26.1 million.
Inventories Coal and supplies inventories are valued at the lower of average cost or market. Coal inventory costs include labor, supplies, equipment costs, transportation costs prior to title transfer to customers and operating overhead. Prior to the adoption of Emerging Issues Task Force Issue No. 04-6, Accounting for Stripping Costs in the Mining Industry (“EITF 04-6”), the Company had classified stripping costs associated with the tons of coal uncovered and not yet extracted (pit inventory) at its surface mining operations as coal inventory. As a result of the adoption of EITF 04-6 on January 1, 2006, stripping costs incurred during the production phase of the mine are considered variable production costs and are included in the cost of inventory extracted during the period the stripping costs are incurred. The effect of adopting EITF 04-6 was a reduction of $40.7 million and $2.0 million of inventory and deferred development costs, respectively, with a corresponding decrease to retained earnings, net of tax, of $26.1 million. This excerpt taken from the ACI 10-K filed Mar 1, 2007. Inventories |
Coal and supplies inventories are valued at the lower of average
cost or market. Coal inventory costs include labor, supplies,
equipment costs and operating overhead.
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