PROPERTY, PLANT AND EQUIPMENT

9 Months Ended

Sep. 30, 2018

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT:

Property, plant and equipment consists of the following:

	September 30, 2018		December 31, 2017
Plant and Equipment	$	2,860,449	$	2,757,062
Coal Properties and Surface Lands	857,814		857,031
Airshafts	406,726		392,266
Mine Development	344,147		344,139
Advance Mining Royalties	327,005		325,855
Total Property, Plant and Equipment	4,796,141		4,676,353
Less: Accumulated Depreciation, Depletion and Amortization	2,692,450		2,554,056
Total Property, Plant and Equipment, Net	$	2,103,691	$	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 September 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 $12,058 and $2,839 at September 30, 2018 and December 31, 2017, respectively. Amortization expense for assets under capital leases approximated $3,927 and $104 for the three months ended and $9,236 and $315 for the nine months ended September 30, 2018 and 2017, respectively, and is included in Depreciation, Depletion and Amortization in the accompanying Unaudited Consolidated Statements of Income.