v3.26.1
Segment Information (Tables)
 3 Months Ended
Mar. 31, 2026
Segment Information [Abstract]  
Reportable Segment Results
(in US$ thousands)
Australia
United States
Other and
Corporate
Total
Three months ended March 31, 2026
Total
revenues
$
259,088
$
208,104
$
—
$
467,192
Less:
Mining cash costs
(1)
(253,890)
(146,857)
—
(400,747)
Other operating costs
(1)
(101,076)
(58,150)
—
(159,226)
Total
operating costs
(354,966)
(205,007)
—
(559,973)
Other and unallocated costs
(2)
9,305
(1,260)
(4,614)
3,431
Segment adjusted EBITDA
(86,573)
1,837
(4,614)
(89,350)
Total
assets
1,310,835
924,809
94,530
2,330,174
Capital expenditures
10,922
9,021
—
19,943
Three months ended March 31, 2025
Total
revenues
$
273,277
$
175,971
$
—
$
449,248
Less:
Mining cash costs
(1)
(198,204)
(158,492)
—
(356,696)
Other operating costs
(1)
(140,163)
(16,826)
—
(156,989)
Total
operating costs
(338,367)
(175,318)
—
(513,685)
Other and unallocated costs
(2)
246
(275)
(8,350)
(8,379)
Segment adjusted EBITDA
(64,844)
378
(8,350)
(72,816)
Total
assets
1,185,488
1,068,579
154,742
2,408,809
Capital expenditures
49,736
67,947
2,365
120,048
The significant expense category and
amount aligns with the segment-level
information that is regularly provided
to the CODM and excludes
Depreciation,
Depletion and Amortization.
(2)
Other and unallocated items for other and corporate includes
selling, general and administrative expenses.
Reconciliation of EBITDA to Net Income
Three months ended
March 31,
(in US$ thousands)
2026
2025
Consolidated Adjusted EBITDA
$
(89,350)
$
(72,816)
Depreciation, depletion and amortization
(43,337)
(40,521)
Interest expense, net
(1)
(33,752)
(17,898)
Other foreign exchange losses
(2)
(4,055)
(332)
Impairment of assets
(159,755)
—
Losses on idled assets
(3)
—
(1,835)
Decrease (increase) in provision for credit losses
127
(630)
Net loss before tax
(330,122)
(134,032)
Income tax benefit
11,532
37,834
Net loss
$
(318,590)
$
(96,198)
(1)
Includes interest income
of $
2.1
million and $
3.2
million for the
three months ended
March 31, 2026
and 2025, respectively.
(2)
The balance primarily relates to
foreign exchange gains and losses
recognized in the translation of
short-term inter-entity
balances
in
certain
entities
within
the
group
that
are
denominated
in
currencies
other
than
their
respective
functional
currencies.
These gains
and losses
are included
in “Other,
net”
on
the unaudited
Condensed
Consolidated
Statement of
Operations and Comprehensive Income.
(3)
Relates to loss on disposal and care and maintenance costs of a non-core idled asset that was sold on January 14, 2025.
Reconciliation of Capital Expenditures
Three months ended March 31,
(in US$ thousands)
2026
2025
Capital expenditures per unaudited Condensed Consolidated
Statements
of Cash Flows
$
34,072
$
72,058
Net movement in accruals for capital expenditures
(7,442)
19,538
Capital acquired through finance leases
—
9,725
Net movement in deposits to acquire long lead capital
(6,687)
18,727
Capital expenditures per segment detail
$
19,943
$
120,048
Disaggregation of Revenue
Three months ended March 31, 2026
(in US$ thousands)
Australia
United States
Total
Product Groups:
Metallurgical coal
$
209,992
$
198,281
$
408,273
Thermal coal
42,414
9,804
52,218
Total
coal revenue
252,406
208,085
460,491
Other
(1)
6,682
19
6,701
Total
$
259,088
$
208,104
$
467,192
Three months ended March 31, 2025
(in US$ thousands)
Australia
United States
Total
Product Groups:
Metallurgical coal
$
250,065
$
171,437
$
421,502
Thermal coal
15,959
3,990
19,949
Total
coal revenue
266,024
175,427
441,451
Other
(1)
7,253
544
7,797
Total
$
273,277
$
175,971
$
449,248
(1) Other revenue for the Australian segment includes
the amortization of the Stanwell non-market coal
supply contract obligation liability.