Annual report pursuant to Section 13 and 15(d)

Asset Retirement Obligations

v3.21.2
Asset Retirement Obligations
12 Months Ended
Sep. 30, 2021
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, 2021 and 2020, the Company’s AROs were $2.8 million and $0.0 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, 2021, 2020 and 2019 was $0.0 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,
2021 2020
Asset Retirement Obligations
Balance at beginning of year $ —  $ — 
   Liabilities incurred 2,070  — 
   Liabilities settled —  — 
   Liabilities assumed (1)
718  — 
   Accretion expense —  — 
Balance at end of year $ 2,788  $ — 
(1) See Note 4 - Business Acquisitions