v3.26.1
Assets Held for Sale
 6 Months Ended
Jun. 30, 2026
Assets Held for Sale [Abstract]  
Assets Held for Sale
5.
Assets Held
for Sale
The
Company
classifies
assets
and
liabilities
as
held
for sale
(disposal
group)
when management,
having
the
authority
to approve
the action, commits
to a plan to sell the Disposal
Group, the sale is probable
within one year
and
the Disposal
Group
is available
for sale
in its
present
condition.
The Company
also
considers
whether an
active
program to
locate
a buyer has
been initiated,
whether the
Disposal
Group is marketed
actively for
sale at
a price
that
is reasonable
in relation
to
its
current
fair value,
and
whether
the actions
required
to
complete
the
plan indicate
that it is
unlikely that
significant
changes to the plan will be
made or
that the plan
will be
withdrawn.
An impairment
test
is performed
when a
disposal
group is classified
as held
for sale
and an
impairment
charge
is recorded
when the
carrying amount
of
the disposal
group exceeds
its
estimated
fair value,
less costs
to sell.
Depreciation
and amortization
of
assets
classified
as held
for
sale are ceased.
During the three months
ended June
30, 2026, the Company committed
to a plan to sell the Logan mining assets
and determined
that
all the
criteria
to
classify
assets and
liabilities as
held for
sale were
met. These
assets
are
part of
the Company’s
U.S. segment,
located
in the State
of
West Virginia
.
The Logan mine asset
has been idle
since March
27, 2026 and
does
not form
part of
the Company’s
core business
strategy.
Upon classification
as held for sale, the Company performed
an impairment assessment in accordance
with ASC
360-10-35-43.
Refer to
Note 4.
“Impairment of
Assets”
for
further information.
The following
table provides
Logan’s major classes
of
assets and
liabilities classified
as held for
sale as of
June
30, 2026:
(in US$ thousands)
June 30, 2026
Trade
receivables,
net
$
9,770
Inventories,
net
12,137
Other current
assets
1,239
Property,
plant and
equipment,
net
27,095
Other noncurrent
assets
1,634
Total
assets
held for
sale
$
51,875
Accounts
payable
$
896
Accrued
expenses
and other
current liabilities
2,368
Contract obligations
19,602
Asset
retirement obligations
27,839
Total
liabilities
associated
with assets
held for
sale
$
50,705
On May
21, 2026,
the Company
entered into
the MIPA
to sell
all of
the membership
interests
in Coronado
Coal
II LLC, which holds
the Logan Mining
Complex
and related
assets and
liabilities,
to Phoenix Coal
Holdings,
LLC,
for nominal consideration.
The Disposal
Group was classified
as held for sale at
June 30, 2026 and measured at
the lower
of
its carrying
amount
and fair value
less costs
to sell. The
sale was
completed
on July
31, 2026,
and
no
gain or
loss
is expected
to
be recorded.