v3.26.1
Segment Information
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Information
NOTE 17—SEGMENT INFORMATION:
The Company reports segment information based on the “management” approach. The management approach designates the internal reporting used by management to make decisions on and assess performance of the Company’s reportable segments. The Company presently consists of four reportable segments: (1) the High CV Thermal segment; (2) the Metallurgical segment; (3) the Powder River Basin (“PRB”) segment; and (4) the Core Marine Terminal segment. The Company manages its segments by market and coal quality, not by individual mining complex or geographic region. The High CV Thermal segment consists of the Company’s Pennsylvania Mining Complex and the West Elk mine located in Colorado. The Metallurgical segment consists of the Company’s Leer, Leer South, Beckley, Mountain Laurel and Itmann coal mines in West Virginia. The PRB segment consists of the Company’s Black Thunder and Coal Creek surface mining complexes located in Wyoming. The Core Marine Terminal segment consists of the Company’s coal export terminal operations in the Port of Baltimore.
The Company’s CODM is the chief executive officer, who utilizes Adjusted EBITDA to monitor each segment. Adjusted EBITDA removes financial activity not related to ongoing operations, which allows for a review of more streamlined operating results. It is used by the CODM to review the budget versus actual results and to evaluate the operating performance of each segment. This review and evaluation is utilized by the CODM to determine the best allocation of resources across the segments and for other business purposes.
Reportable segment results for the three months ended June 30, 2026 are:
High CV ThermalMetallurgicalPRBCore Marine TerminalTotal
Revenues from External Customers$612,122 $366,283 $148,274 $9,942 
Intersegment Revenues— — — 17,004 
612,122 366,283 148,274 26,946 $1,153,625 
Reconciliation of Revenue:
Other Revenues (a)
4,393 
Elimination of Intersegment Revenues(17,004)
Total Consolidated Revenues1,141,014 
Less: (b)
Cash Costs of Revenue325,138 223,236 151,678 9,176 
Transportation Costs122,379 68,808 2,393 — 
Other Segment Items (c)
— (125,427)— — 
Adjusted EBITDA$164,605 $199,666 $(5,797)$17,770 $376,244 
Reconciliation of Segment Profit or Loss Measure to Consolidated Earnings Before Income Tax:
Other Profit or Loss (a)
333 
Depreciation, Depletion and Amortization(166,762)
General and Administrative Costs(26,669)
Interest Expense(11,640)
Interest Income4,511 
Non-Service Related Pension and Postretirement Benefit Costs(5,659)
Closed and Idle Mine Costs(4,287)
Other Operating Expense, net(17,770)
Other Costs(5,331)
Earnings Before Income Tax$142,970 
(a) Revenue and profit or loss from segments below the quantitative thresholds are attributable to the revenue and expense from various corporate and diversified business activities excluded from our reportable segments.
(b) The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.
(c) Other segment items include insurance proceeds associated with the Leer South combustion-related event.
High CV ThermalMetallurgicalPRBCore Marine Terminal
Corporate and Other (a)
Consolidated
Segment Assets (b)
$2,145,462 $1,980,440 $249,759 $97,040 $1,649,652 $6,122,353 
Depreciation, Depletion and Amortization$61,042 $76,256 $8,205 $1,500 $19,759 $166,762 
Capital Expenditures$63,259 $20,467 $6,081 $3,404 $8,690 $101,901 
(a) Includes various corporate and diversified business activities excluded from our reportable segments to reconcile to consolidated totals.
(b) Represents assets as of June 30, 2026.
Reportable segment results for the three months ended June 30, 2025 are:
High CV ThermalMetallurgicalPRB
Core Marine Terminal
Total
Revenues from External Customers$606,500 $299,994 $186,872 $4,540 
Intersegment Revenues— — — 18,032 
606,500 299,994 186,872 22,572 $1,115,938 
Reconciliation of Revenue:
Other Revenues (a)
4,455 
Elimination of Intersegment Revenues(18,032)
Total Consolidated Revenues1,102,361 
Less: (b)
Cash Costs of Revenue331,058 214,365 168,246 7,578 
Transportation Costs99,084 67,088 2,460 — 
Other Segment Items (c)
— 21,243 — — 
Adjusted EBITDA$176,358 $(2,702)$16,166 $14,994 $204,816 
Reconciliation of Segment Profit or Loss Measure to Consolidated Loss Before Income Tax:
Other Profit or Loss (a)
1,244 
Depreciation, Depletion and Amortization(169,263)
General and Administrative Costs(34,829)
Interest Expense(10,051)
Interest Income6,401 
Non-Service Related Pension and Postretirement Benefit Costs(6,537)
Closed and Idle Mine Costs(4,920)
Other Operating Expense, net(4,948)
Other Costs(11,353)
Loss Before Income Tax$(29,440)
(a) Revenue and profit or loss from segments below the quantitative thresholds are attributable to the revenue and expense from various corporate and diversified business activities excluded from our reportable segments.
(b) The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.
(c) Other segment items include fire extinguishment and idle costs associated with the Leer South combustion-related event.
High CV ThermalMetallurgicalPRBCore Marine Terminal
Corporate and Other (a)
Consolidated
Segment Assets (b)
$2,072,304 $2,334,353 $361,452 $87,156 $1,353,473 $6,208,738 
Depreciation, Depletion and Amortization$52,021 $75,317 $5,666 $1,394 $34,865 $169,263 
Capital Expenditures$48,175 $30,509 $2,413 $1,538 $6,550 $89,185 
(a) Includes various corporate and diversified business activities excluded from our reportable segments to reconcile to consolidated totals.
(b) Represents assets as of June 30, 2025.
Reportable segment results for the six months ended June 30, 2026 were as follows:
High CV ThermalMetallurgicalPRBCore Marine TerminalTotal
Revenues from External Customers$1,164,954 $708,618 $323,454 $18,444 
Intersegment Revenues— — — 32,714 
1,164,954 708,618 323,454 51,158 $2,248,184 
Reconciliation of Revenue:
Other Revenues (a)
9,822 
Elimination of Intersegment Revenues(32,714)
Total Consolidated Revenues2,225,292 
Less: (b)
Cash Costs of Revenue652,963 449,541 314,274 17,406 
Transportation Costs221,752 136,595 6,100 — 
Other Segment Items (c)
— (135,150)— — 
Adjusted EBITDA$290,239 $257,632 $3,080 $33,752 $584,703 
Reconciliation of Segment Profit or Loss Measure to Consolidated Earnings Before Income Tax:
Other Profit or Loss (a)
1,722 
Depreciation, Depletion and Amortization(313,057)
General and Administrative Costs(62,748)
Interest Expense(22,832)
Interest Income9,259 
Non-Service Related Pension and Postretirement Benefit Costs(11,312)
Closed and Idle Mine Costs(8,767)
Other Operating Expense, net(7,775)
Other Costs(5,606)
Earnings Before Income Tax$163,587 
(a) Revenue and profit or loss from segments below the quantitative thresholds are attributable to the revenue and expense from various corporate and diversified business activities excluded from our reportable segments.
(b) The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.
(c) Other segment items include insurance proceeds associated with the Leer South combustion-related event.
High CV ThermalMetallurgicalPRBCore Marine Terminal
Corporate and Other (a)
Consolidated
Segment Assets (b)
$2,145,462 $1,980,440 $249,759 $97,040 $1,649,652 $6,122,353 
Depreciation, Depletion and Amortization$113,718 $147,117 $16,505 $2,979 $32,738 $313,057 
Capital Expenditures$113,591 $34,167 $6,832 $5,993 $14,415 $174,998 
(a) Includes various corporate and diversified business activities excluded from our reportable segments to reconcile to consolidated totals.
(b) Represents assets as of June 30, 2026.
Reportable segment results for the six months ended June 30, 2025 were as follows:
High CV ThermalMetallurgicalPRBCore Marine TerminalTotal
Revenues from External Customers$1,148,586 $604,574 $349,461 $9,496 
Intersegment Revenues— — — 34,302 
1,148,586 604,574 349,461 43,798 $2,146,419 
Reconciliation of Revenue:
Other Revenues (a)
7,650 
Elimination of Intersegment Revenues(34,302)
Total Consolidated Revenues2,119,767 
Less: (b)
Cash Costs of Revenue634,619 425,140 301,404 15,403 
Transportation Costs192,813 144,070 5,200 — 
Other Segment Items (c)
— 57,649 — — 
Adjusted EBITDA$321,154 $(22,285)$42,857 $28,395 $370,121 
Reconciliation of Segment Profit or Loss Measure to Consolidated Loss Before Income Tax:
Other Profit or Loss (a)
1,612 
Depreciation, Depletion and Amortization(290,819)
General and Administrative Costs(124,152)
Interest Expense(18,070)
Interest Income12,719 
Loss on Debt Extinguishment(11,680)
Non-Service Related Pension and Postretirement Benefit Costs(12,739)
Closed and Idle Mine Costs(9,564)
Other Operating Income, net4,911 
Other Costs(25,272)
Loss Before Income Tax$(102,933)
(a) Revenue and profit or loss from segments below the quantitative thresholds are attributable to the revenue and expense from various corporate and diversified business activities excluded from our reportable segments.
(b) The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.
(c) Other segment items include fire extinguishment and idle costs associated with the Leer South combustion-related event.
High CV ThermalMetallurgicalPRBCore Marine Terminal
Corporate and Other (a)
Consolidated
Segment Assets (b)
$2,072,304 $2,334,353 $361,452 $87,156 $1,353,473 $6,208,738 
Depreciation, Depletion and Amortization$103,311 $121,206 $16,446 $2,773 $47,083 $290,819 
Capital Expenditures$82,170 $54,473 $4,909 $2,780 $9,675 $154,007 
(a) Includes various corporate and diversified business activities excluded from our reportable segments to reconcile to consolidated totals.
(b) Represents assets as of June 30, 2025.
In the three and six months ended June 30, 2026 and 2025, no individual customer accounted for more than 10% of consolidated revenues.