CP, saying that it intends “to defer indefinitely plans to extend its rail network into the PRB coal mines based on continued deterioration in the market for domestic thermal coal, including a sharp deterioration in 2012,” on Monday Dec. 3 announced it will take a fourth quarter pre-tax non-cash write-down of approximately $180 million ($107 million after tax) on its PRB option.
Components of the charge include the option, engineering design costs, land, and capitalized interest.