Quarterly report pursuant to Section 13 or 15(d)

Asset Retirement Obligations (???ARO???) and Accrued Closure Costs

v3.22.2.2
Asset Retirement Obligations (“ARO”) and Accrued Closure Costs
9 Months Ended
Sep. 30, 2022
Asset Retirement Obligations Aro And Accrued Closure Costs  
Asset Retirement Obligations (“ARO”) and Accrued Closure Costs

12. Asset Retirement Obligations (“ARO”) and Accrued Closure Costs

 

Accrued closure costs represent our estimated environmental liability to clean up our fixed-based regulated facilities as required by our permits, in the event of closure. During the nine months ended September 30, 2022, the Company recorded a total of $465,000 in additional estimated closure liabilities (within long-term liabilities) and ARO in connection with the footprint expansion at one of our facilities and an update to a processing enclosure area at another facility. Additionally, the Company recorded approximately $662,000 in additional estimated closure liabilities (within current liabilities) and ARO for our EWOC (Oak Ridge Environmental Waste Operations Center) facility. The ARO is reported as a component of “Net property and equipment” in the Consolidated Balance Sheets at September 30, 2022.