Summary of Significant Accounting Policies (Policy)	12 Months Ended
Dec. 31, 2025
Summary of Significant Accounting Policies [Abstract]
Newly Adopted Accounting Standards	(a) Newly Adopted Accounting Standards Accounting Standards Update, or ASU, 2023-09 - Income Taxes (Topic 740): Improvements to Income Tax Disclosures. In December 2023, the FASB issued ASU 2023-09, which modifies the rules on income tax disclosures to require companies to disclose specific categories in the rate reconciliation, the income or loss from continuing operations before income tax expense or benefit (separated between domestic and foreign) and income tax expense or benefit from continuing operations (separated by federal, state, and foreign). The updated standard was effective for annual periods beginning after December 15, 2024. The updated standard impacted only the financial statement disclosures, with no impact on the Company’s results of operation, cash flows and financial position. The required disclosures are included in Note 20. “Income Taxes.”
Accounting Standards Not Yet Implemented	(b) Accounting Standards Not Yet Implemented ASU 2024-03 - Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses . In November 2024, the FASB issued ASU 2024-03, which require disclosure, in the notes to financial statements, of specified information about certain costs and expenses. The amendments aim to improve financial reporting by requiring that public business entities disclose additional information about specific expense categories in the notes to financial statements at interim and annual reporting periods. The updated standard is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. Early adoption is permitted. The Company is currently evaluating the impact that the updated standard will have on its financial statement disclosures. ASU 2025-11 - Interim Reporting (Topic 270 ): Narrow-Scope Improvements . In December 2025, FASB issued ASU 2025-11 to clarify interim financial reporting guidance under Topic 270. The amendments aim to make the interim reporting requirements easier to navigate and apply. The amendments do not change the substance of existing interim reporting requirements but reorganize and clarify when and how the guidance applies. The amendments also introduce a new disclosure principle requiring entities to disclose events and changes occurring since the end of the last annual reporting period that have a material impact on the entity. The updated standard will be effective for annual periods beginning after December 15, 2027, and interim reporting periods within those annual reporting periods. The Company is currently evaluating the impact that the updated standard will have on its financial statement disclosures. There have been no other recent accounting pronouncements not yet effective that have significance, or potential significance, to the Company’s Consolidated Financial Statements.
Reclassification	(c) Reclassifications Certain amounts in the prior period Consolidated Balance Sheet have been reclassified to conform to the current period presentation. These reclassifications relate to the presentation of contract obligations which were previously reported within a different financial statement line item. These changes had no impact on the Company’s previously reported net income (loss).
Use of Estimates	(d) Use of Estimates The preparation of Consolidated Financial Statements in conformity with U.S. GAAP requires management to make certain judgements, estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and contingent liabilities at the date of the Consolidated Financial Statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ materially from those estimates. Significant items subject to such estimates and assumptions include asset retirement obligations; useful lives for depreci ation, depletion and amortization; expected credit losses; deferred income tax assets and liabilities; values of coal properties; goodwill; workers’ compensation liability; and other contingencies.
Foreign Currency	(e) Foreign Currency Financial Statements of Foreign Operations The reporting currency of the Company is the U.S. Dollar, or US$. Functional currency is determined by the primary economic environment in which an entity operates. The functional currency of the Company and its subsidiaries is the US$, with the exception of two foreign operating subsidiaries, Coronado Curragh Pty Ltd, or Curragh, and its immediate parent, Coronado Australia Holdings Pty Ltd, or CAH, whose functional currency is the Australian dollar, or A$, since Curragh’s predominant sources of operating expenses are denominated in that currency. Assets and liabilities are translated at the year-end exchange rate and items in the statement of operations are translated at average rates with gains and losses from translation recorded in other comprehensive losses. Foreign Currency Transactions Monetary assets and liabilities are remeasured at year-end exchange rates while non-monetary items are remeasured at historical rates. Gains and losses from foreign currency remeasurement related to Curragh’s US$ receivables are included in coal revenues. All other gains and losses from foreign currency remeasurement and foreign currency forward contracts are included in “Other, net,” with the exception of foreign currency gains or losses on long-term intercompany loan balances which are classified within “Accumulated other comprehensive losses.” The Company may periodically enter into arrangements that protect against the volatility of foreign currency, including forward currency derivative contracts. Refer to Note 21. “Derivatives and Fair Value Measurement” for further information. The total aggregate impact of foreign currency transaction gains or losses on the Consolidated Statements of Operations and Comprehensive Income was a net loss of $ 6.2 million, net gain of $ 21.6 million and net gain of $ 2.5 million for the years ended December 31, 2025, 2024 and 2023, respectively. The total impact of foreign currency transactions related to US$ coal sales in Australia (included in the total above) was a net loss of $ 8.8 million, net gain of $ 8.4 million and net loss of $ 1.0 million for the years ended December 31, 2025, 2024 and 2023, respectively.
Cash and Cash Equivalents	(f) Cash and Cash Equivalents Cash and cash equivalents include cash at bank and short-term, highly liquid investments with an original maturity date of three months or less. The Company had $ 106.9 million and $ 221.4 million of short-term, highly liquid investments classified as cash equivalents as of December 31, 2025 and 2024, respectively. “Cash and cash equivalents,” as disclosed in the accompanying Consolidated Balance Sheets, includes $ 0.3 million of restricted cash at December 31, 2025 and 2024.
Trade Accounts Receivables	(g) Trade Accounts Receivables Trade accounts receivables represent customer obligations that are derived from revenue recognized from contracts with customers. The Company extends trade credit to its customers in the ordinary course of business based on an evaluation of the individual customer’s financial condition. Trade receivables are initially recorded at fair value and subsequently at amortized cost, less any Expected Credit Losses, or ECL. The Company determines ECL on a forward -looking basis for the expected lifetime losses on trade accounts receivable. The amount of ECL is updated at each reporting date to reflect changes in credit risk since initial recognition of the respective financial instrument. The ECL is estimated based on the Company’s historic credit loss experience, adjusted for factors that are specific to the financial asset, general economic conditions, financial asset type, term and an assessment of both the current as well as forecast conditions, including expected timing of collection, at the reporting date, modified for credit enhancements such as letters of credit obtained. To measure ECL, trade receivables have been grouped based on shared credit risk characteristics and the days past due. The amount of credit loss is recognized in the Consolidated Statements of Operations and Comprehensive Income within “Provision for discounting and credit losses.” The Company writes off a financial asset when there is information indicating there is no realistic prospect of recovery of the asset from the counterparty. Subsequent recoveries of amounts previously written off are credited against “Provision for discounting and credit losses” in the Consolidated Statements of Operations and Comprehensive Income.
Inventories	(h) Inventories Coal is recorded as inventory at the point in time the coal is extracted from the mine. Raw coal represents coal stockpiles that may be sold in current condition or may be further processed prior to shipment to a customer. Saleable coal represents coal stockpiles which require no further processing prior to shipment to a customer. Coal inventories are stated at the lower of average cost and net realizable value. The cost of coal inventories is determined based on an average cost of production, which includes all costs incurred to extract, transport and process the coal. Net realizable value considers the estimated sales price of the particular coal product, less applicable selling costs, depending on the location of the coal stockpile, and, in the case of raw coal, estimated remaining processing costs. Supplies inventory is comprised of replacement parts for operational equipment and other miscellaneous materials and supplies required for mining, which are stated at cost on the date of purchase. Supplies inventory is valued at the lower of average cost or net realizable value, less a reserve for obsolete or surplus items. This reserve incorporates several factors, such as anticipated usage, inventory turnover and inventory levels. It is not customary to sell these inventories; the Company plans to use them in mining operations as needed.
Property, Plant and Equipment, Impairment of Long-Lived Assets and Goodwill	(i) Property, Plant and Equipment, Impairment of Long-Lived Assets and Goodwill Property, Plant, and Equipment Costs for mine development incurred to expand capacity of operating mines or to develop new mines and certain mining equipment are capitalized and charged to operations on the hours of usage or units of production method over the estimated proven and probable reserve tons directly benefiting from the capital expenditures. Mine development costs include costs incurred for site preparation and development of the mines during the development stage. Mineral rights and reserves acquired are measured at cost and are depleted on a units-of- production method over the estimated proven and probable reserve tons of the relevant mineral property. Capitalized costs related to internal-use software are amortized on a straight-line basis over the estimated useful lives of the assets. Property, plant, and equipment are recorded at cost and include expenditures for improvements when they substantially increase the productive lives of existing assets. Depreciation is calculated using the straight-line method over the estimated useful lives of the depreciable assets of 3 to 10 years for machinery, mining equipment and transportation vehicles, 5 to 10 years for office equipment, and 10 to 20 years for plant, buildings and improvements. Maintenance and repair costs are expensed to operations as incurred. When equipment is retired or disposed, the related cost and accumulated depreciation are removed from the respective accounts and any gain or loss on disposal is recognized in operations. Impairment of long-lived assets Long-lived assets, such as property, plant, and equipment, and purchased intangible assets subject to amortization, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If circumstances require a long-lived asset or asset group be tested for possible impairment, the Company first compares undiscounted cash flows expected to be generated by that asset or asset group to its carrying amount. If the carrying amount of the long-lived asset or asset group is not recoverable on an undiscounted cash flow basis, an impairment is recognized to the extent that the carrying amount exceeds its fair value. Fair value is determined through various valuation techniques including discounted cash flow models, quoted market values and third-party independent appraisals, as considered necessary. In circumstances in which the Company intends to sell a long-lived or asset group that did not satisfy the criteria to be classified as “held-for-sale,” an impairment charge is recorded when the carrying amount of the disposal group exceeds its estimated fair value, less costs to sell. The Company recognized an impairment charge of $ 10.6 million against property, plant and equipment relating to a long-standing non-core idle asset within the U.S. Operation for the year ended December 31, 2024. The Company concluded that no impairment charges were required at any of the Company’s mining assets for the years ended December 31, 2025 and 2023. Goodwill Goodwill is an asset representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. In connection with the Buchanan acquisition on March 31, 2016, the Company recorded goodwill in the amount of $ 28.0 million. The Company performed a qualitative assessment to determine if impairment was required at December 31, 2025 and 2024. Based upon the Company’s qualitative assessment, it is more likely than not that the fair value of the reporting unit is greater than its carrying amount at December 31, 2025 and 2024. As a result, no impairment was required, and the balance of goodwill at both December 31, 2025 and 2024 was $ 28.0 million. The Company has not noted any indicators of impairment since the acquisition date. Goodwill is not amortized but is reviewed for impairment annually or when circumstances or other events indicate that impairment may have occurred. The Company follows the guidance in Accounting Standards Update 2017- 04 - Intangibles – Goodwill and Other: Simplifying the Test for Goodwill Impairment (ASU 2017-04). The Company makes a qualitative assessment of whether it is more likely than not that a reporting unit’s fair value is less than its carrying amount. Circumstances that are considered as part of the qualitative assessment and could trigger a quantitative impairment test include, but are not limited to, a significant adverse change in the business climate; a significant adverse legal judgment; adverse cash flow trends; an adverse action or assessment by a government agency; unanticipated competition; and a significant restructuring charge within a reporting unit. If a quantitative assessment is determined to be necessary, the Company compares the fair value of a reporting unit with its carrying amount, including goodwill. If the carrying amount of a reporting unit exceeds its fair value, the Company recognizes an impairment charge for the amount by which the carrying amount exceeds its fair value to the extent of the amount of goodwill allocated to that reporting unit. The Company defines reporting units at the mining asset level. For purposes of testing goodwill for impairment, goodwill has been allocated to the reporting units to the extent it relates to each reporting unit.
Asset Retirement Obligations	(j) Asset Retirement Obligations The Company’s asset retirement obligation, or ARO, liabilities primarily consist of estimates of the cost of reclamation of surface land and support facilities at both surface and underground mines in accordance with applicable reclamation laws and regulations in the U.S. and Australia as defined by each mining permit. The Company estimates its ARO liabilities for final reclamation and mine closure based upon detailed engineering calculations of the amount and timing of the future cash spending for a third party to perform the required work. Spending estimates are escalated for inflation and then discounted at the credit-adjusted, risk-free rate. The Company records an ARO asset associated with the discounted liability for final reclamation and mine closure. The obligation and corresponding asset are recognized in the period in which the liability is incurred. The ARO asset is amortized on the units-of-production method over the expected life of the related asset and the ARO liability is accreted to the projected spending date. As changes in estimates occur (such as mine plan revisions, changes in estimated costs or changes in timing of the performance of reclamation activities), the revisions to the obligation and asset are recognized at the appropriate credit-adjusted, risk-free rate. The Company also recognizes an obligation for contemporaneous reclamation liabilities incurred as a result of surface mining. Contemporaneous reclamation consists primarily of grading, topsoil replacement and re-vegetation of backfilled pit areas. To settle the liability, the obligation is paid, and to the extent there is a difference between the liability and the amount of cash paid, a gain or loss upon settlement is recorded. The Company annually reviews its estimated future cash flows for its asset retirement obligations.
Borrowing costs	(k) Borrowing Costs Borrowing costs are recognized as an expense when they are incurred, except for interest charges attributable to major projects with substantial development and construction phases, which are capitalized as part of the cost of the asset. There was no interest capitalized during the years ended December 31, 2025, 2024 and 2023.
Leases	(l) Leases From time to time, the Company enters into contractual agreements to lease property, plant and equipment. In addition, the Company also enters into mining services contracts which may include embedded leases of mining equipment. Based upon the Company’s assessment of the terms of a specific lease agreement, the Company classifies a lease as either finance or operating. Finance Leases Right of Use, or ROU, assets related to finance leases are presented in “Property, plant and equipment, net” on the Consolidated Balance Sheets. Lease liabilities related to finance leases are presented in “Lease Liabilities” (current) and “Lease Liabilities” (non-current) on the Consolidated Balance Sheets. Finance lease ROU assets and lease liabilities are recognized at the commencement date based on the present value of the future lease payments over the lease term. The discount rate used to determine the present value of the lease payments is the rate implicit in the lease unless that rate cannot be readily determined, in which case the Company utilizes its incremental borrowing rate in determining the present value of the future lease payments. The incremental borrowing rate is the rate of interest that the Company would have to pay to borrow, on a collateralized basis over a similar term, an amount equal to the lease payments in a similar economic environment. Operating Leases ROU assets related to operating leases are presented as “Right of Use assets – operating leases, net” on the Consolidated Balance Sheets. Lease liabilities related to operating leases that are subject to the Accounting Standards Codification, or ASC, 842 measurement requirements, such as operating leases with lease terms greater than twelve months, are presented in “Lease Liabilities” (current) and “Lease Liabilities” (non -current) on the Consolidated Balance Sheets. Operating lease ROU assets and lease liabilities are recognized at the commencement date based on the present value of the future lease payments over the lease term. The discount rate used to determine the present value of the lease payments is the rate implicit in the lease unless that rate cannot be readily determined, in which case, the Company utilizes its incremental borrowing rate in determining the present value of the future lease payments. The incremental borrowing rate is the rate of interest that the Company would have to pay to borrow, on a collateralized basis over a similar term, an amount equal to the lease payments in a similar economic environment. Operating lease ROU assets may also include any cumulative prepaid or accrued rent when the lease payments are uneven throughout the lease term. The ROU assets and lease liabilities may also include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. The ROU asset includes any lease payments made and lease incentives received prior to the commencement date. The Company has lease arrangements with lease and non-lease components which are accounted for separately. Non-lease components of the lease payments are expensed as incurred and are not included in determining the present value.
Royalties	(m) Royalties Lease rights to coal lands are often acquired in exchange for royalty payments. For our Australian Operations, royalties are payable monthly as a percentage of the gross realization from the sale of the coal mined using surface mining methods and underground methods. At our U.S. Operations, royalties are payable monthly as a percentage of the gross realization for coal produced using underground mining methods. Advance mining royalties are advance payments made to lessors under terms of mineral lease agreements that are recoupable against future production. The Company had advance mining royalties of $ 5.7 million and $ 9.8 million respectively, included in “Other current assets” as of December 31, 2025 and 2024.
Stanwell Rebate	(n) Stanwell Rebate The Stanwell rebate relates to a contractual arrangement entered into by the Company and Stanwell Corporation Limited, a State of Queensland-owned electricity generator, which required payment of a rebate for export coal sold from some of Curragh’s mining tenements. The rebate obligation is accounted for as an executory contract and the expense is recognized as incurred. On November 27, 2025, the Company entered into a Second Amendment Deed with Stanwell that, among other matters, waived the rebate amounts that would have otherwise been payable by the Company from January 1, 2026 until the final delivery date pursuant to the ACSA, which date is expected to occur in the first half of 2027. Refer to Note 14. “Contract Obligations” for further information.
Revenue Recognition	(o) Revenue Recognition The Company accounts for a contract when it has approval and commitment from both parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance and collectability of consideration is probable. Once a contract is identified, the Company evaluates whether the combined or single contract should be accounted for as more than one performance obligation. The Company recognizes revenue when control is transferred to the customer. For the Company’s contracts, in order to determine the point in time when control transfers to customers, the Company uses standard shipping terms to determine the timing of transfer of legal title and the significant risks and rewards of ownership. The Company also considers other indicators including timing of when the Company has a present right to payment and when physical possession of products is transferred to customers. The amount of revenue recognized includes any adjustments for variable consideration, which is included in the transaction price and allocated to each performance obligation based on the relative standalone selling price. The variable consideration is estimated through the course of the contract using management’s best estimates. The majority of the Company’s revenue is derived from short-term contracts where the time between confirmation of sales orders and collection of cash is not more than a few months. During 2025, the Company secured long- term contracts with varying pricing arrangements and including prepayments. Refer to Note 14. “Contract Obligations” for further information. Taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction that are collected by the Company from a customer are excluded from revenue. Performance Obligations A performance obligation is a promise in a contract to transfer a distinct good or service to the customer. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. Revenue is recognized at a point in time. The Company’s contracts have multiple performance obligations as the promise to transfer the individual unit of coal is separately identifiable from other units of coal promised in the contracts and, therefore, distinct. Performance obligations, as described above, primarily relate to the Company’s promise to deliver a designated quantity and type of coal within the quality specifications stated in the contract. For contracts with multiple performance obligations, we allocate the contract’s transaction price to each performance obligation on a relative standalone selling price basis. The standalone selling price is determined at each contract inception using an adjusted market assessment approach. This approach focuses on the amount that the Company believes the market is willing to pay for a good or service, considering market conditions, such as benchmark pricing, competitor pricing, market awareness of the product and current market trends that affect the pricing. Warranties provided to customers are assurance-type warranties on the fitness of purpose and merchantability of the Company’s goods. The Company does not provide service-type warranties to customers. Shipping and Handling For Free on Rail sales, the Company accounts for shipping and handling activities as a separate performance obligation after the customer obtains control of the good. In this instance, shipping and handling costs paid to third party carriers and invoiced to coal customers are recorded as freight expense and other revenues, respectively. Contract Balances Contract assets, when present, are recorded separately from trade receivables in the Company's Consolidated Balance Sheets and are reclassified to trade receivables as title passes to the customer and the Company's right to consideration becomes unconditional. Credit is extended based on an evaluation of a customer's financial condition and a customer's ability to perform its obligations. The Company typically does not have contract assets that are stated separately from trade receivables since the Company's performance obligations are satisfied as control of the goods or services passes to the customer, thereby granting the Company an unconditional right to receive consideration. Contract liabilities relate to consideration received in advance of the satisfaction of the Company's performance obligations. Contract liabilities are recognized as revenue at the point in time when control of the goods passes to the customer. Refer to Note 14. “Contract Obligations” for further information.
Commodity Price Risk	(p) Commodity Price Risk The Company has commodity price risk arising from fluctuations in domestic and global coal prices. The Company’s principal philosophy is not to hedge against movements in coal prices unless there are exceptional circumstances. Any potential hedging of coal prices would be through fixed price contracts. The Company is also exposed to commodity price risk related to diesel fuel purchases. The Company may periodically enter into arrangements that protect against the volatility in fuel prices as follows: • entering into fixed price contracts to purchase fuel for the U.S. Operations. • entering into derivative financial instruments to hedge exposures to fuel price fluctuations. Refer to Note 21. “Derivatives and Fair Value Measurement”.
Derivative Accounting	(q) Derivative Accounting The Company recognizes at fair value all contracts meeting the definition of a derivative as assets or liabilities in the Consolidated Balance Sheets. With respect to derivatives used in hedging activities, the Company assesses, both at inception and at least quarterly thereafter, whether such derivatives are highly effective at offsetting the changes in the anticipated exposure of the hedged item. The effective portion of the change in the fair value of derivatives designated as a cash flow hedge is recorded in “Accumulated other comprehensive income (loss)” until the hedged transaction impacts reported earnings, at which time any gain or loss is reclassified to earnings. To the extent that periodic changes in the fair value of derivatives deemed highly effective exceeds such changes in the hedged item, the ineffective portion of the periodic non-cash changes are recorded in earnings in the period of the change. If the hedge ceases to qualify for hedge accounting, the Company prospectively recognizes changes in the fair value of the instrument in earnings in the period of the change. The potential for hedge ineffectiveness is present in the design of certain of the Company’s cash flow hedge relationships. The Company’s asset and liability derivative positions are offset on a counterparty-by-counterparty basis if the contractual agreement provides for the net settlement of contracts with the counterparty in the event of default or termination of any one contract.
Income Taxes	(r) Income Taxes The Company uses the asset and liability approach to account for income taxes as required by ASC 740, Income Taxes, which requires the recognition of deferred income tax assets and liabilities for the expected future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Valuation allowances are provided when necessary to reduce deferred income tax assets to the amount expected to be realized, on a “more likely than not” basis. The Company recognizes the benefit of an uncertain tax position that it has taken or expects to take on income tax returns it files if such tax position is more likely than not to be sustained on examination by the taxing authorities, based on the technical merits of the position. These tax benefits are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate resolution. The Company’s foreign structure consists of Australian entities which are treated as corporations subject to tax under Australian taxing authorities. The Australian entities are treated as a branch for U.S. tax purposes and all income flows through the ultimate parent (the Company).
Fair Value Measurements	(s) Fair Value Measurements The Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible. The Company determines fair value based on assumptions that market participants would use in pricing an asset or liability in the principal or most relevant market. When considering market participant assumptions in fair value measurements, the Company distinguishes between observable and unobservable inputs, which are categorized in one of three levels of inputs. Refer to Note 21. “Derivatives and Fair Value Measurement” for detailed information related to the Company’s fair value policies and disclosures.
Stock-based Compensation	(t) Stock-based Compensation The Company has a stock-based compensation plan which allows for the grant of certain equity-based incentives including stock options, performance stock units, or PSUs, and restricted stock units, or RSUs, to employees and executive directors, valued in whole or in part with reference to the Company’s CDIs or equivalent common shares (on a 10 :1 CDI to common share ratio). The grant-date fair value of stock option award is estimated on the date of grant using Black-Scholes-Merton option-pricing model. For certain options and PSUs, the Company includes a relative Total Stockholder Return, or TSR, modifier to determine the number of shares earned at the end of the performance period. The fair value of awards that include the TSR modifier is determined using a Monte Carlo valuation model. The expense for these equity-based incentives is based on their fair value at date of grant and is amortized over the required service period, generally the vesting period. The Company accounts for forfeitures as and when they occur. Refer to Note 19. “Stock-Based Compensation” for detailed information related to the Company’s stock-based compensation plans.
(Loss) Earnings per Share	u) (Loss) Earnings per Share Basic earnings per share is computed by dividing net income attributable to stockholders of the Company by the weighted-average number of shares of common stock outstanding during the reporting period. Diluted net income per share is computed using the weighted-average number of shares of common stock and dilutive potential shares of common stock outstanding during the period. Dilutive potential shares of common stock primarily consist of employee stock options and restricted stock.
Deferred Debt Issuance Costs	(v) Deferred Debt Issuance Costs The Company capitalizes costs incurred in connection with new borrowings, the establishment or enhancement of credit facilities and the issuance of debt securities. These costs are amortized as an adjustment to interest expense over the life of the borrowing or term of the credit facility using the effective interest method. Deferred debt issuance costs related to a recognized liability are presented in the Consolidated Balance Sheets as a direct reduction from the carrying amount of that liability whereas debt issuance costs related to a revolving credit facility are shown as an asset and amortized over the life of the facility on a straight-line basis and included in “Interest expense, net” in the Company’s Consolidated Statements of Operations and Comprehensive Income. For information on the unamortized balance of deferred debt issuance costs related to outstanding debt, see Note 15. “Interest Bearing Liabilities”.

Summary of Significant Accounting Policies (Policy)

12 Months Ended

Dec. 31, 2025

Summary of Significant Accounting Policies [Abstract]

Newly Adopted Accounting Standards

(a)

Newly Adopted Accounting Standards

Accounting

Standards

Update,

ASU,

2023-09

Income

Taxes

(Topic

740):

Improvements

Income

Tax

Disclosures.

December

2023,

the

FASB

issued

ASU

2023-09,

which

modifies

the

rules

income

tax

disclosures to require companies to

disclose specific categories in the

rate reconciliation, the income or

loss from

continuing

operations

before

income

tax

expense

benefit

(separated

between

domestic

and

foreign)

and

income tax expense or

benefit from continuing operations

(separated by federal, state,

and foreign). The updated

standard was effective for annual periods beginning

after December 15, 2024.

The updated

standard impacted only

the financial

statement disclosures,

with no

impact on

the Company’s results

of operation, cash flows and financial position.

The required disclosures are included in Note 20. “Income

Taxes.”

Accounting Standards Not Yet Implemented

(b)

Accounting Standards Not Yet

Implemented

ASU 2024-03

- Income

Statement –

Reporting Comprehensive

Income –

Expense Disaggregation

Disclosures

(Subtopic 220-40):

Disaggregation of

Income Statement

Expenses

. In

November 2024,

the FASB

issued ASU

2024-03,

which

require

disclosure,

the

notes

financial

statements,

specified

information

about

certain

costs and expenses.

The amendments aim

to improve financial

reporting by requiring

that public business

entities

disclose additional

information about specific

expense categories

in the notes

to financial statements

at interim

and

annual

reporting

periods.

The

updated

standard

effective

for

annual

reporting

periods

beginning

after

December

15,

2026,

and

interim

reporting

periods

beginning

after

December

15,

2027.

Early

adoption

permitted. The

Company is

currently evaluating

the impact

that the

updated standard

will have

on its

financial

statement disclosures.

ASU 2025-11

- Interim

Reporting (Topic

270

Narrow-Scope Improvements

. In

December 2025,

FASB

issued

ASU 2025-11

to clarify interim financial

reporting guidance under

Topic

270. The amendments

aim to make the

interim reporting requirements

easier to

navigate and

apply.

The amendments

do not change

the substance

existing

interim

reporting

requirements

but

reorganize

and

clarify

when

and

how

the

guidance

applies.

The

amendments also

introduce a

new disclosure

principle requiring entities

to disclose events

and changes

occurring

since the end of the last annual reporting period that have a material impact on the entity. The updated standard

will be effective for annual

periods beginning after December 15, 2027,

and interim reporting periods within

those

annual reporting periods. The Company is currently evaluating the impact that the updated

standard will have on

its financial statement disclosures.

There have been

no other recent

accounting pronouncements not yet

effective that have significance,

or potential

significance, to the Company’s Consolidated Financial

Statements.

Reclassification

Certain amounts in the prior period Consolidated Balance Sheet have

been reclassified to conform to the current

period

presentation.

These

reclassifications

relate

the

presentation

contract

obligations

which

were

previously

reported

within

different

financial

statement

line

item.

These

changes

had

impact

the

Company’s previously reported net income (loss).

Use of Estimates

(d)

Use of Estimates

The preparation

of Consolidated

Financial

Statements

in conformity

with U.S. GAAP

requires

management

make certain

judgements, estimates

and assumptions

that affect

the reported

amounts of

assets and

liabilities

and disclosure of

contingent assets and contingent

liabilities at the

date of the

Consolidated Financial Statements

and

the

reported

amounts

revenues

and

expenses

during

the

reporting

periods.

Actual

results

could

differ

materially

from

those

estimates.

Significant

items

subject

such

estimates

and

assumptions

include

asset

retirement obligations; useful lives for depreci

ation, depletion and amortization; expected

credit losses; deferred

income tax

assets and

liabilities; values

of coal

properties; goodwill;

workers’ compensation

liability; and

other

contingencies.

Foreign Currency

(e)

Foreign Currency

Financial Statements of Foreign Operations

The reporting currency of the Company is the U.S. Dollar,

or US$.

Functional

currency

determined

the

primary

economic

environment

which

entity

operates.

The

functional currency of

the Company

and its subsidiaries

is the US$,

with the exception

of two foreign

operating

subsidiaries, Coronado Curragh Pty Ltd, or Curragh, and its immediate

parent, Coronado Australia Holdings Pty

Ltd, or CAH,

whose functional

currency is

the Australian

dollar,

or A$, since

Curragh’s predominant

sources of

operating expenses are denominated in that currency.

Assets and liabilities

are translated at

the year-end exchange

rate and items

in the statement

of operations are

translated at average rates with gains and losses from

translation recorded in other comprehensive losses.

Foreign Currency Transactions

Monetary

assets

and

liabilities

are

remeasured

year-end

exchange

rates

while

non-monetary

items

are

remeasured at historical rates.

Gains and

losses

from foreign

currency

remeasurement

to Curragh’s

US$ receivables

are included

coal revenues.

All other

gains

and losses

from foreign

currency

remeasurement

and foreign

currency

forward

contracts

are

included

“Other,

net,”

with

the

exception

foreign

currency

gains

losses

long-term

intercompany loan balances which are classified within “Accumulated

other comprehensive losses.”

The

Company

may

periodically

enter

into

arrangements

that

protect

against

the

volatility

foreign

currency,

including forward currency derivative contracts. Refer

to Note 21. “Derivatives and Fair

Value Measurement”

for

further information.

The total

aggregate impact

of foreign

currency transaction

gains or

losses on

the Consolidated

Statements of

Operations and Comprehensive

Income was a

net loss of

6.2

million, net gain

of $

21.6

million and net

gain of

2.5

million for

the years

ended December

31, 2025,

2024 and

2023, respectively.

The total

impact of

foreign

currency

transactions

US$

coal

sales

Australia

(included

the

total

above)

was

net

loss

8.8

million, net

gain of $

8.4

million and

net loss

of $

1.0

million for

the years

ended December

31, 2025,

2024

and 2023, respectively.

Cash and Cash Equivalents

(f)

Cash and Cash Equivalents

Cash and

cash equivalents include

cash at

bank and

short-term, highly liquid

investments with

an original

maturity

date of

three

months

or less.

The Company

had

106.9

million

and

221.4

million

of short-term,

highly

liquid

investments classified as cash equivalents as of December

31, 2025 and 2024, respectively.

“Cash

and

cash

equivalents,”

as disclosed

the

accompanying

Consolidated

Balance

Sheets,

includes

0.3

million of restricted cash at December 31, 2025 and

2024.

Trade Accounts Receivables

(g)

Trade Accounts Receivables

Trade

accounts

receivables

represent

customer

obligations

that

are

derived

from

revenue

recognized

from

contracts with customers. The Company extends trade credit to its customers in the ordinary

course of business

based on

an evaluation

of the

individual customer’s

financial condition.

Trade receivables

are initially

recorded

at fair value and subsequently at amortized cost, less

any Expected Credit Losses, or ECL.

The Company

determines

ECL on

a forward

-looking

basis

for the

expected

lifetime

losses

on trade

accounts

receivable.

The

amount

ECL

is updated

at each

reporting

date

to reflect

changes

in credit

risk

since initial

recognition of the respective

financial instrument. The

ECL is estimated based

on the Company’s

historic credit

loss experience, adjusted

for factors that

are specific to

the financial asset,

general economic conditions,

financial

asset type, term and an assessment of both the current as well as forecast conditions, including expected timing

collection,

the

reporting

date,

modified

for

credit

enhancements

such

letters

credit

obtained.

measure ECL,

trade receivables

have been

grouped

based on

shared credit

risk characteristics

and the

days

past due.

The

amount

credit

loss

recognized

the

Consolidated

Statements

Operations

and

Comprehensive

Income within “Provision for discounting and credit losses.” The Company writes off a financial asset when there

is information indicating there is no realistic prospect of recovery of the asset from the counterparty. Subsequent

recoveries of amounts

previously written off

are credited against “Provision

for discounting and

credit losses” in

the Consolidated Statements of Operations and Comprehensive

Income.

Inventories

(h)

Inventories

Coal is recorded

as inventory at the

point in time

the coal is

extracted from the

mine. Raw coal

represents coal

stockpiles that

may be

sold in

current condition

or may

be further

processed prior

to shipment

to a

customer.

Saleable coal represents coal stockpiles which require

no further processing prior to shipment to a customer.

Coal inventories are stated

at the lower of average

cost and net realizable

value. The cost of coal

inventories is

determined based

on an

average cost

of production,

which includes

all costs

incurred to

extract, transport

and

process

the coal.

Net

realizable

value

considers

the

estimated

sales

price

the

particular

coal

product,

less

applicable selling costs,

depending on the

location of the coal

stockpile, and, in the

case of raw coal,

estimated

remaining processing costs.

Supplies

inventory

comprised

replacement

parts

for

operational

equipment

and

other

miscellaneous

materials and supplies required for

mining, which are stated at cost

on the date of purchase.

Supplies inventory

is valued at

the lower of

average cost or

net realizable

value, less a

reserve for obsolete

or surplus items.

This

reserve incorporates several factors, such as anticipated usage, inventory turnover and inventory levels. It is not

customary to sell these inventories; the Company plans

to use them in mining operations as needed.

Property, Plant and Equipment, Impairment of Long-Lived Assets and Goodwill

(i)

Property, Plant and

Equipment, Impairment of Long-Lived Assets and Goodwill

Property, Plant, and

Equipment

Costs for mine development incurred to

expand capacity of operating mines or to

develop new mines and certain

mining equipment are capitalized and charged to operations on the

hours of usage or units of production method

over

the

estimated

proven

and

probable

reserve

tons

directly

benefiting

from

the

capital

expenditures.

Mine

development

costs

include

costs

incurred

for

site

preparation

and

development

the

mines

during

the

development stage.

Mineral rights and

reserves acquired are

measured at cost

and are depleted

on a units-of-

production

method

over

the

estimated

proven

and

probable

reserve

tons

the

relevant

mineral

property.

Capitalized costs related to internal-use software are amortized

on a straight-line basis over the estimated useful

lives of the assets.

Property,

plant,

and

equipment

are

recorded

cost

and

include

expenditures

for

improvements

when

they

substantially

increase

the

productive

lives

of existing

assets.

Depreciation

is calculated

using

the

straight-line

method over

the estimated

useful lives

of the

depreciable assets of

years for machinery, mining

equipment

and

transportation

vehicles,

years

for

office

equipment,

and

years

for

plant,

buildings

and

improvements.

Maintenance and

repair costs

are expensed to

operations as

incurred. When

equipment is

retired or

disposed,

the related cost

and accumulated

depreciation are

removed from

the respective

accounts and any

gain or loss

on disposal is recognized in operations.

Impairment of long-lived assets

Long-lived

assets,

such

property,

plant,

and

equipment,

and

purchased

intangible

assets

subject

amortization,

are

reviewed

for

impairment

whenever

events

changes

circumstances

indicate

that

the

carrying amount of an

asset may not be

recoverable.

If circumstances require

a long-lived asset or

asset group

tested

for

possible

impairment,

the

Company

first

compares

undiscounted

cash

flows

expected

generated by

that asset

or asset

group to

its carrying

amount. If

the carrying

amount of

the long-lived

asset or

asset group

is not

recoverable on

an undiscounted

cash flow

basis, an

impairment is

recognized to

the extent

that the

carrying amount

exceeds its

fair value.

Fair value

is determined

through

various valuation

techniques

including

discounted

cash

flow

models,

quoted

market

values

and

third-party

independent

appraisals,

considered necessary.

In circumstances in which the Company intends to sell a long-lived

or asset group that did not satisfy the criteria

to be

classified as

“held-for-sale,” an

impairment charge

is recorded

when the

carrying amount

of the

disposal

group exceeds its estimated fair value, less costs to sell.

The Company recognized

an impairment charge of

10.6

million against property,

plant and equipment relating

to a

long-standing

non-core

idle

asset within

the U.S.

Operation

for the

year

ended

December

31, 2024.

The

Company concluded

that

impairment charges

were required

at any

of the

Company’s mining

assets for

the

years ended December 31, 2025 and 2023.

Goodwill

Goodwill is an asset

representing the future economic

benefits arising from other

assets acquired in a

business

combination

that

are

not

individually

identified

and

separately

recognized.

connection

with

the

Buchanan

acquisition on

March 31,

2016, the

Company recorded

goodwill in

the amount

of $

28.0

million.

The Company

performed a

qualitative assessment

to determine

if impairment

was required

at December 31,

2025 and

2024.

Based upon the

Company’s qualitative

assessment, it

is more likely

than not that

the fair value

of the reporting

unit is greater

than its carrying amount

at December 31, 2025 and

2024. As a

result,

impairment was required,

and the balance

of goodwill at

both December 31, 2025 and

2024 was $

28.0

million. The Company has

not noted

any indicators of impairment since the acquisition date.

Goodwill is not

amortized but is reviewed

for impairment annually or

when circumstances or other

events indicate

that impairment may have occurred. The Company follows the

guidance in Accounting Standards Update 2017-

Intangibles

–

Goodwill

and

Other:

Simplifying

the

Test

for

Goodwill

Impairment

(ASU 2017-04).

The

Company makes a qualitative assessment of whether it is more

likely than not that a reporting unit’s fair value is

less than its carrying

amount. Circumstances that are considered as

part of the qualitative assessment

and could

trigger a quantitative impairment test include,

but are not limited to, a significant adverse change in the business

climate; a significant

adverse legal

judgment; adverse

cash flow trends;

an adverse

action or assessment

by a

government agency; unanticipated competition; and a significant restructuring

charge within a reporting unit. If a

quantitative assessment is determined to be necessary, the Company compares the fair value of a reporting unit

with its carrying

amount, including goodwill.

If the carrying

amount of a

reporting unit

exceeds its fair

value, the

Company recognizes an

impairment charge for

the amount by which

the carrying amount

exceeds its fair

value

to the extent of the amount of goodwill allocated to that

reporting unit.

The Company defines reporting

units at the mining

asset level. For purposes

of testing goodwill for

impairment,

goodwill has been allocated to the reporting units to the

extent it relates to each reporting unit.

Asset Retirement Obligations

(j)

Asset Retirement Obligations

The

Company’s

asset

retirement

obligation,

ARO,

liabilities

primarily

consist

estimates

the

cost

reclamation

surface

land

and

support

facilities

both

surface

and

underground

mines

accordance

with

applicable reclamation laws and regulations in the U.S.

and Australia as defined by each mining permit.

The Company

estimates its ARO

liabilities for

final reclamation

and mine

closure based upon

detailed engineering

calculations of the amount

and timing of the future

cash spending for a

third party to perform

the required work.

Spending

estimates

are

escalated

for

inflation

and

then

discounted

the

credit-adjusted,

risk-free

rate.

The

Company records

an ARO asset

associated with

the discounted

liability for final

reclamation and

mine closure.

The obligation

and corresponding

asset are recognized

in the period

in which the

liability is incurred.

The ARO

asset is

amortized

on the

units-of-production

method over

the expected

life of

the related

asset and

the ARO

liability is accreted to the projected

spending date. As changes

in estimates occur (such as

mine plan revisions,

changes in

estimated costs

or changes

in timing

of the

performance of

reclamation activities),

the revisions

the

obligation

and

asset

are

recognized

the

appropriate

credit-adjusted,

risk-free

rate.

The

Company

also

recognizes

obligation

for

contemporaneous

reclamation

liabilities

incurred

result

surface

mining.

Contemporaneous reclamation consists primarily

of grading, topsoil replacement

and re-vegetation of backfilled

pit areas. To

settle the liability,

the obligation is paid,

and to the extent

there is a difference

between the liability

and

the

amount

of cash

paid,

gain

loss

upon

settlement

recorded.

The

Company

annually

reviews

its

estimated future cash flows for its asset retirement obligations.

Borrowing costs

(k)

Borrowing Costs

Borrowing costs are

recognized as an

expense when they

are incurred, except

for interest charges

attributable

to major projects with substantial development and construction phases, which are

capitalized as part of the cost

of the asset. There was

interest capitalized during the years ended December

31, 2025, 2024 and 2023.

Leases

(l)

Leases

From time to

time, the Company

enters into contractual

agreements to

lease property,

plant and equipment.

addition, the Company also enters into mining services contracts which may include embedded leases of mining

equipment. Based

upon the

Company’s assessment

of the

terms of

a specific

lease agreement,

the Company

classifies a lease as either finance or operating.

Finance Leases

Right of Use, or ROU, assets

related to finance leases are presented

in “Property,

plant and equipment, net” on

the Consolidated Balance

Sheets. Lease

liabilities related

to finance leases

are presented in

“Lease Liabilities”

(current) and “Lease Liabilities” (non-current) on the Consolidated

Balance Sheets.

Finance lease ROU assets and lease liabilities are recognized at the commencement date based on the present

value of the

future lease payments

over the lease

term. The

discount rate used

to determine

the present

value

of the lease payments

is the rate implicit

in the lease unless that

rate cannot be readily determined,

in which case

the Company

utilizes its

incremental borrowing rate

in determining

the present

value of

the future

lease payments.

The

incremental

borrowing

rate

the

rate

interest

that

the

Company

would

have

pay

borrow,

collateralized

basis

over

similar

term,

amount

equal

the

lease

payments

similar

economic

environment.

Operating Leases

ROU assets

related to

operating leases

are presented

as “Right

of Use

assets –

operating leases,

net” on

the

Consolidated

Balance

Sheets.

Lease

liabilities

operating

leases

that

are

subject

the

Accounting

Standards

Codification,

ASC,

842

measurement

requirements,

such

operating

leases

with

lease

terms

greater than twelve months, are presented in “Lease Liabilities” (current) and “Lease Liabilities” (non

-current) on

the Consolidated Balance Sheets.

Operating lease

ROU assets and

lease liabilities

are recognized at

the commencement date

based on

the present

value of the

future lease payments

over the lease

term. The

discount rate used

to determine

the present

value

of the

lease

payments

is the

rate

implicit in

the

lease unless

that

rate cannot

be readily

determined,

in which

case, the

Company utilizes

its incremental

borrowing

rate in

determining the

present value

of the

future lease

payments. The incremental borrowing rate is the rate

of interest that the Company would have to pay

to borrow,

collateralized

basis

over

similar

term,

amount

equal

the

lease

payments

similar

economic

environment. Operating

lease ROU

assets may

also include

any cumulative

prepaid or

accrued rent

when the

lease payments

are uneven

throughout the

lease term.

The ROU

assets and

lease liabilities

may also

include

options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option.

The ROU

asset includes

any lease

payments made

and lease

incentives received

prior to

the commencement

date.

The

Company

has

lease

arrangements

with

lease

and

non-lease

components

which

are

accounted

for

separately.

Non-lease

components

the

lease

payments

are

expensed

incurred

and

are

not

included

determining the present value.

Royalties

(m) Royalties

Lease rights

to coal

lands are

often acquired

in exchange

for royalty

payments. For

our Australian

Operations,

royalties

are

payable

monthly

percentage

the

gross

realization

from

the

sale

the

coal

mined

using

surface mining methods

and underground methods.

At our U.S. Operations,

royalties are payable

monthly as a

percentage

the

gross

realization

for

coal

produced

using

underground

mining

methods.

Advance

mining

royalties are advance

payments made to

lessors under terms

of mineral lease

agreements that are

recoupable

against

future

production.

The

Company

had

advance

mining

royalties

5.7

million

and

9.8

million

respectively, included

in “Other current assets” as of December 31, 2025

and 2024.

Stanwell Rebate

(n)

Stanwell Rebate

The Stanwell rebate relates to

a contractual arrangement entered into

by the Company and

Stanwell Corporation

Limited, a State

of Queensland-owned

electricity generator,

which required payment

of a rebate

for export coal

sold from some of Curragh’s

mining tenements. The rebate obligation is

accounted for as an executory

contract

and the expense is recognized as incurred.

On November 27, 2025, the Company entered into a Second Amendment Deed with Stanwell that, among other

matters, waived the

rebate amounts that

would have otherwise

been payable by

the Company from

January 1,

2026 until the final delivery

date pursuant to the

ACSA, which date is

expected to occur

in the first half of

2027.

Refer to Note 14. “Contract Obligations” for further

information.

Revenue Recognition

(o)

Revenue Recognition

The Company accounts for

a contract when it

has approval and commitment

from both parties, the

rights of the

parties are identified,

payment terms

are identified,

the contract has

commercial substance

and collectability

consideration is probable. Once a contract

is identified, the Company evaluates

whether the combined or single

contract should be accounted for as more than one performance

obligation.

The Company recognizes revenue when

control is transferred to the customer.

For the Company’s contracts,

order to determine

the point

in time when

control transfers

to customers, the

Company uses

standard shipping

terms to

determine

the timing

of transfer

legal title

and the

significant

risks

and rewards

of ownership.

The

Company also considers other

indicators including timing

of when the Company

has a present right

to payment

and

when

physical

possession

products

transferred

customers.

The

amount

revenue

recognized

includes any

adjustments for

variable consideration,

which is

included in

the transaction

price and

allocated to

each

performance

obligation

based

the

relative

standalone

selling

price.

The

variable

consideration

estimated through the course of the contract using management’s

best estimates.

The majority of

the Company’s revenue is

derived from short-term contracts

where the time

between confirmation

of sales orders and collection

of cash is not more

than a few months.

During 2025, the Company

secured long-

term

contracts

with

varying

pricing

arrangements

and

including

prepayments.

Refer

Note

14.

“Contract

Obligations” for further information.

Taxes

assessed

governmental

authority

that

are

both

imposed

and

concurrent

with

specific

revenue-producing transaction that are collected by the

Company from a customer are excluded from revenue.

Performance Obligations

performance

obligation

promise

contract

transfer

distinct

good

service

the

customer.

contract’s transaction price is allocated

to each distinct performance obligation

and recognized as revenue

when,

or as, the performance obligation is satisfied. Revenue

is recognized at a point in time.

The Company’s contracts have

multiple performance obligations as the

promise to transfer the individual

unit of

coal

separately

identifiable

from

other

units

coal

promised

the

contracts

and,

therefore,

distinct.

Performance obligations, as described above, primarily relate to the Company’s

promise to deliver a designated

quantity and type of coal within the quality specifications

stated in the contract.

For

contracts

with

multiple

performance

obligations,

allocate

the

contract’s

transaction

price

each

performance obligation on a relative standalone selling price basis. The

standalone selling price is determined at

each contract inception using

an adjusted market assessment

approach. This approach focuses

on the amount

that the Company believes the market is willing to pay

for a good or service, considering market conditions, such

as benchmark pricing, competitor pricing, market awareness of the product and current market trends that affect

the pricing.

Warranties provided

to customers are

assurance-type warranties

on the fitness

of purpose and

merchantability

of the Company’s goods. The Company does not

provide service-type warranties to customers.

Shipping and Handling

For Free

on Rail

sales, the

Company accounts

for shipping

and handling

activities as

a separate

performance

obligation after

the customer

obtains control

of the

good. In

this instance,

shipping and

handling costs

paid to

third

party

carriers

and

invoiced

coal

customers

are

recorded

freight

expense

and

other

revenues,

respectively.

Contract Balances

Contract assets, when

present, are recorded

separately from

trade receivables in

the Company's Consolidated

Balance Sheets and are reclassified to

trade receivables as title passes to

the customer and the Company's right

consideration

becomes

unconditional.

Credit

extended

based

evaluation

customer's

financial

condition and a

customer's ability to perform

its obligations. The

Company typically does

not have contract

assets

that are stated separately

from trade receivables

since the Company's

performance obligations are

satisfied as

control of the goods or services passes to the customer,

thereby granting the Company an unconditional right to

receive

consideration.

Contract

liabilities

relate to

consideration

received

advance

of the

satisfaction

of the

Company's

performance

obligations.

Contract

liabilities

are

recognized

revenue

the

point

time

when

control of the goods passes to the customer.

Refer to Note 14. “Contract Obligations” for further

information.

Commodity Price Risk

(p)

Commodity Price Risk

The Company has commodity price risk arising from fluctuations

in domestic and global coal prices.

The

Company’s

principal

philosophy

not

hedge

against

movements

coal

prices

unless

there

are

exceptional circumstances.

Any potential hedging of coal prices would be through fixed

price contracts.

The

Company

also

exposed

commodity

price

risk

diesel

fuel

purchases.

The

Company

may

periodically enter into arrangements that protect against

the volatility in fuel prices as follows:

•

entering into fixed price contracts to purchase fuel for the

U.S. Operations.

•

entering into derivative financial instruments to hedge

exposures to fuel price fluctuations.

Refer to Note 21. “Derivatives and Fair Value

Measurement”.

Derivative Accounting

(q)

Derivative Accounting

The Company recognizes at fair value all contracts meeting the definition of a derivative as assets or liabilities in

the Consolidated Balance Sheets.

With

respect

derivatives

used

hedging

activities,

the

Company

assesses,

both

inception

and

least

quarterly

thereafter,

whether

such

derivatives

are

highly

effective

offsetting

the

changes

the

anticipated

exposure of the hedged item. The effective

portion of the change in the fair

value of derivatives designated as

cash flow

hedge is

recorded in

“Accumulated other

comprehensive income

(loss)” until

the hedged

transaction

impacts reported earnings,

at which time any

gain or loss

is reclassified to earnings.

the extent that

periodic

changes in the

fair value of

derivatives deemed highly

effective exceeds

such changes

in the hedged

item, the

ineffective portion of

the periodic non-cash

changes are recorded

in earnings in the

period of the change.

If the

hedge ceases to qualify

for hedge accounting,

the Company prospectively

recognizes changes in

the fair value

of the instrument in earnings in

the period of the change. The

potential for hedge ineffectiveness is present in the

design of certain of the Company’s cash flow hedge

relationships.

The Company’s

asset and

liability derivative

positions are

offset on

a counterparty-by-counterparty

basis if

the

contractual agreement provides for the net settlement of contracts with the

counterparty in the event of default or

termination of any one contract.

Income Taxes

(r)

Income Taxes

The Company uses the asset

and liability approach to account

for income taxes as required by

ASC 740, Income

Taxes,

which requires

the

recognition

of deferred

income

tax assets

and

liabilities

for the

expected

future

tax

consequences

attributable

to differences

between

the

financial

statement

carrying

amounts

existing

assets

and liabilities and their respective tax bases.

Valuation allowances are provided

when necessary to

reduce deferred income

tax assets to

the amount expected

to be realized, on a “more likely than not” basis.

The Company recognizes the

benefit of an uncertain

tax position that it has

taken or expects

to take on income

tax

returns

files

such

tax

position

likely

than

not

sustained

examination

the

taxing

authorities, based on the technical

merits of the position. These tax

benefits are measured based on the

largest

benefit that has a greater than 50% likelihood of being realized

upon ultimate resolution.

The Company’s foreign

structure consists of

Australian entities which

are treated as

corporations subject to

tax

under Australian taxing authorities.

The Australian entities are

treated as a branch for

U.S. tax purposes and

all

income flows through the ultimate parent (the Company).

Fair Value Measurements

(s)

Fair Value Measurements

The Company utilizes valuation

techniques that maximize

the use of observable inputs

and minimize the use of

unobservable

inputs

the

extent

possible.

The

Company

determines

fair

value

based

assumptions

that

market

participants

would

use

pricing

asset

liability

the

principal

most

relevant

market.

When

considering

market

participant

assumptions

fair

value

measurements,

the

Company

distinguishes

between

observable and unobservable inputs, which are categorized

in one of three levels of inputs.

Refer to

Note 21.

“Derivatives and

Fair Value

Measurement” for

detailed information

related to

the Company’s

fair value policies and disclosures.

Stock-based Compensation

(t)

Stock-based Compensation

The Company has

a stock-based compensation plan

which allows for

the grant of

certain equity-based incentives

including stock options, performance stock

units, or PSUs, and

restricted stock units,

or RSUs, to employees

and

executive

directors,

valued

whole

part

with

reference

the

Company’s

CDIs

equivalent

common

shares (on a

:1 CDI to common share ratio).

The grant-date

fair value

of stock

option

award is

estimated on

the

date

of grant

using

Black-Scholes-Merton

option-pricing model. For

certain options and

PSUs, the Company includes

a relative Total

Stockholder Return,

or TSR, modifier to determine the number of shares

earned at the end of the performance period. The

fair value

of awards that include the TSR modifier is determined

using a Monte Carlo valuation model.

The expense for these equity-based incentives is based on their fair value at date of grant and is amortized over

the required service

period, generally the vesting

period. The Company accounts

for forfeitures as

and when they

occur.

Refer to

Note 19.

“Stock-Based Compensation”

for detailed

information related

to the

Company’s

stock-based

compensation plans.

(Loss) Earnings per Share

Basic earnings per share is computed by dividing net income attributable to stockholders of the Company by the

weighted-average number of shares of common stock

outstanding during the reporting period.

Diluted net income

per share is computed

using the weighted-average

number of shares

of common stock

and

dilutive

potential

common

stock

outstanding

during

the

period.

Dilutive

potential

common

stock primarily consist of employee stock options and

restricted stock.

Deferred Debt Issuance Costs

(v)

Deferred Debt Issuance Costs

The Company capitalizes costs

incurred in connection with new

borrowings, the establishment or

enhancement

of credit

facilities

and the

issuance

of debt

securities.

These costs

are amortized

as an

adjustment to

interest

expense over the

life of the

borrowing or term

of the credit

facility using the

effective interest

method. Deferred

debt issuance costs related

to a recognized liability

are presented in the

Consolidated Balance Sheets as a

direct

reduction from

the carrying amount

of that

liability whereas debt

issuance costs related

to a

revolving credit facility

are shown as an asset and

amortized over the life of the

facility on a straight-line basis

and included in “Interest

expense, net” in the Company’s Consolidated Statements

of Operations and Comprehensive Income.

For

information

the

unamortized

balance

deferred

debt

issuance

costs

outstanding

debt,

see

Note 15. “Interest Bearing Liabilities”.