PROPERTY, PLANT AND EQUIPMENT

3 Months Ended

Mar. 31, 2018

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT:

Property, plant and equipment consists of the following:

	March 31, 2018		December 31, 2017
Plant and Equipment	$	2,799,723	$	2,757,062
Coal Properties and Surface Lands	858,218		857,031
Airshafts	393,347		392,266
Mine Development	344,139		344,139
Advance Mining Royalties	326,696		325,855
Total Property, Plant and Equipment	4,722,123		4,676,353
Less: Accumulated Depreciation, Depletion and Amortization	2,599,775		2,554,056
Total Property, Plant and Equipment, Net	$	2,122,348	$	2,122,297

Coal reserves are controlled either through fee ownership or by lease. The duration of the leases vary; however, the lease terms are generally extended automatically to the exhaustion of economically recoverable reserves, as long as active mining continues. Coal interests held by lease provide the same rights as fee ownership for mineral extraction and are legally considered real property interests.

As of March 31, 2018 and December 31, 2017, property, plant and equipment includes gross assets under capital lease of $26,255 and $3,559, respectively. Accumulated amortization for capital leases was $4,215 and $2,839 at March 31, 2018 and December 31, 2017, respectively. Amortization expense for assets under capital leases approximated $1,376 and $113 for the three months ended March 31, 2018 and 2017, respectively, and is included in Depreciation, Depletion and Amortization in the accompanying Unaudited Consolidated Statements of Income.