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This excerpt taken from the ACI 10-K filed Mar 1, 2010. Other
taxes
The Emergency Economic Stabilization Act (“the Act”)
enacted on October 3, 2008 enabled certain coal producers
to file for refunds of black lung excise taxes paid on export
sales subsequent to October 1, 1990, along with interest
computed at statutory rates. The Company filed for a refund
under the Act and recognized a refund of $11.0 million plus
interest of $10.3 million in the fourth quarter of 2008.
The Company recorded additional income of $6.8 million
during 2009, to adjust the estimated amount to be received, of
which $6.1 million is reflected in interest income in the
accompanying consolidated income statement, with the remainder
in cost of coal sales.
Debt consists of the following:
The current maturities of debt include amounts borrowed that are
supported by credit facilities that have a term of less than one
year and amounts borrowed under credit facilities with terms
longer than one year that the Company does not intend to
refinance on a long-term basis, based on cash projections and
management’s plans.
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