PROPERTY, PLANT AND EQUIPMENT

6 Months Ended

Jun. 30, 2018

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT:

Property, plant and equipment consists of the following:

	June 30, 2018		December 31, 2017
Plant and Equipment	$	2,829,805	$	2,757,062
Coal Properties and Surface Lands	858,833		857,031
Airshafts	398,573		392,266
Mine Development	344,146		344,139
Advance Mining Royalties	326,910		325,855
Total Property, Plant and Equipment	4,758,267		4,676,353
Less: Accumulated Depreciation, Depletion and Amortization	2,648,812		2,554,056
Total Property, Plant and Equipment, Net	$	2,109,455	$	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 June 30, 2018 and December 31, 2017, property, plant and equipment includes gross assets under capital lease of $49,619 and $3,559, respectively. Accumulated amortization for capital leases was $8,128 and $2,839 at June 30, 2018 and December 31, 2017, respectively. Amortization expense for assets under capital leases approximated $3,934 and $99 for the three months ended and $5,309 and $212 for the six months ended June 30, 2018 and 2017, respectively, and is included in Depreciation, Depletion and Amortization in the accompanying Unaudited Consolidated Statements of Income.