Annual report pursuant to Section 13 and 15(d)

Asset Retirement Obligations

v3.22.2.2
Asset Retirement Obligations
12 Months Ended
Sep. 30, 2022
Asset Retirement Obligation Disclosure [Abstract]  
Asset Retirement Obligations Asset Retirement Obligations
As discussed in Note 2, the Company has asset retirement obligations (“AROs”), which are liabilities associated with our legally required obligations to reclaim owned and leased aggregates facilities. At September 30, 2022 and 2021, the Company’s AROs were $2.9 million and $2.8 million, respectively, which are reflected as “Other long-term liabilities” on the Company’s Consolidated Balance Sheets. Accretion and depreciation expense related to AROs for the fiscal years ended September 30, 2022, 2021 and 2020 was $0.1 million, $0.0 million and $0.0 million, respectively.

The following is a reconciliation of these asset retirement obligations (in thousands):
For the Fiscal Year Ended September 30,
2022 2021
Asset Retirement Obligations
Balance at beginning of year $ 2,788  $ — 
   Liabilities incurred —  2,070 
   Liabilities settled —  — 
   Liabilities assumed —  718 
   Accretion expense 70  — 
Balance at end of year $ 2,858  $ 2,788