v3.26.3
Segment Information
 9 Months Ended
Sep. 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 September 30, 2026 were as follows:
High CV ThermalMetallurgicalPRBCore Marine TerminalTotal
Revenues from External Customers$580,969 $355,364 $195,143 $9,200 
Intersegment Terminal Revenues— — — 15,490 
580,969 355,364 195,143 24,690 $1,156,166 
Reconciliation of Revenue:
Other Revenues (a)
4,411 
Elimination of Intersegment Terminal Revenues(15,490)
Total Consolidated Revenues1,145,087 
Less: (b)
Cash Costs of Revenue341,106 227,669 181,541 8,152 
Transportation Costs115,240 60,911 2,944 — 
Adjusted EBITDA$124,623 $66,784 $10,658 $16,538 $218,603 
Reconciliation of Segment Profit or Loss Measure to Consolidated Loss Before Income Tax:
Other Profit or Loss (a)
3,116 
Depreciation, Depletion and Amortization(159,302)
General and Administrative Costs(25,108)
Interest Expense(10,303)
Interest Income5,691 
Non-Service Related Pension and Postretirement Benefit Costs(5,651)
Closed and Idle Mine Costs(4,048)
Other Operating Income and Expense, net(6,799)
Other Costs(19,780)
Loss Before Income Tax$(3,581)
(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.
High CV ThermalMetallurgicalPRBCore Marine Terminal
Corporate and Other (a)
Consolidated
Segment Assets (b)
$1,952,642 $1,918,288 $250,185 $95,592 $1,843,136 $6,059,843 
Depreciation, Depletion and Amortization$66,829 $69,914 $8,484 $1,591 $12,484 $159,302 
Capital Expenditures$57,242 $17,051 $8,581 $4,441 $7,131 $94,446 
(a) Includes various corporate and diversified business activities excluded from our reportable segments to reconcile to consolidated totals.
(b) Represents assets as of September 30, 2026.
Reportable segment results for the three months ended September 30, 2025 were as follows:
High CV ThermalMetallurgicalPRB
Core Marine Terminal
Total
Revenues from External Customers$514,721 $292,694 $186,366 $5,591 
Intersegment Terminal Revenues— — — 14,187 
514,721 292,694 186,366 19,778 $1,013,559 
Reconciliation of Revenue:
Other Revenues (a)
3,171 
Elimination of Intersegment Terminal Revenues(14,187)
Total Consolidated Revenues1,002,543 
Less: (b)
Cash Costs of Revenue293,002 209,285 169,945 7,626 
Transportation Costs82,550 66,912 2,830 — 
Other Segment Items (c)
— (975)— — 
Adjusted EBITDA$139,169 $17,472 $13,591 $12,152 $182,384 
Reconciliation of Segment Profit or Loss Measure to Consolidated Loss Before Income Tax:
Other Profit or Loss (a)
679 
Depreciation, Depletion and Amortization(151,006)
General and Administrative Costs(34,133)
Interest Expense(10,606)
Interest Income7,578 
Non-Service Related Pension and Postretirement Benefit Costs(6,562)
Closed and Idle Mine Costs(5,080)
Other Operating Income and Expense, net(1,742)
Other Costs(2,912)
Loss Before Income Tax$(21,400)
(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 and insurance proceeds associated with the Leer South combustion-related event.
High CV ThermalMetallurgicalPRBCore Marine Terminal
Corporate and Other (a)
Consolidated
Segment Assets (b)
$2,179,909 $2,140,661 $422,024 $92,521 $1,360,773 $6,195,888 
Depreciation, Depletion and Amortization$52,842 $65,381 $8,795 $1,398 $22,590 $151,006 
Capital Expenditures$40,642 $2,719 $1,876 $3,104 $956 $49,297 
(a) Includes various corporate and diversified business activities excluded from our reportable segments to reconcile to consolidated totals.
(b) Represents assets as of September 30, 2025.
Reportable segment results for the nine months ended September 30, 2026 were as follows:
High CV ThermalMetallurgicalPRBCore Marine TerminalTotal
Revenues from External Customers$1,745,923 $1,063,982 $518,597 $27,644 
Intersegment Terminal Revenues— — — 48,204 
1,745,923 1,063,982 518,597 75,848 $3,404,350 
Reconciliation of Revenue:
Other Revenues (a)
14,233 
Elimination of Intersegment Terminal Revenues(48,204)
Total Consolidated Revenues3,370,379 
Less: (b)
Cash Costs of Revenue994,069 677,210 495,815 25,558 
Transportation Costs336,992 197,506 9,044 — 
Other Segment Items (c)
— (135,150)— — 
Adjusted EBITDA$414,862 $324,416 $13,738 $50,290 $803,306 
Reconciliation of Segment Profit or Loss Measure to Consolidated Earnings Before Income Tax:
Other Profit or Loss (a)
4,838 
Depreciation, Depletion and Amortization(472,359)
General and Administrative Costs(87,856)
Interest Expense(33,135)
Interest Income14,950 
Non-Service Related Pension and Postretirement Benefit Costs(16,963)
Closed and Idle Mine Costs(12,815)
Other Operating Income and Expense, net(14,574)
Other Costs(25,386)
Earnings Before Income Tax$160,006 
(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)
$1,952,642 $1,918,288 $250,185 $95,592 $1,843,136 $6,059,843 
Depreciation, Depletion and Amortization$180,547 $217,031 $24,989 $4,570 $45,222 $472,359 
Capital Expenditures$170,833 $51,218 $15,413 $10,434 $21,546 $269,444 
(a) Includes various corporate and diversified business activities excluded from our reportable segments to reconcile to consolidated totals.
(b) Represents assets as of September 30, 2026.
Reportable segment results for the nine months ended September 30, 2025 were as follows:
High CV ThermalMetallurgicalPRBCore Marine TerminalTotal
Revenues from External Customers$1,663,307 $897,268 $535,827 $15,087 
Intersegment Terminal Revenues— — — 48,488 
1,663,307 897,268 535,827 63,575 $3,159,977 
Reconciliation of Revenue:
Other Revenues (a)
10,821 
Elimination of Intersegment Terminal Revenues(48,488)
Total Consolidated Revenues3,122,310 
Less: (b)
Cash Costs of Revenue927,621 634,425 471,349 23,028 
Transportation Costs275,363 210,982 8,030 — 
Other Segment Items (c)
— 56,674 — — 
Adjusted EBITDA$460,323 $(4,813)$56,448 $40,547 $552,505 
Reconciliation of Segment Profit or Loss Measure to Consolidated Loss Before Income Tax:
Other Profit or Loss (a)
2,291 
Depreciation, Depletion and Amortization(441,825)
General and Administrative Costs(158,285)
Interest Expense(28,676)
Interest Income20,297 
Loss on Debt Extinguishment(11,680)
Non-Service Related Pension and Postretirement Benefit Costs(19,301)
Closed and Idle Mine Costs(14,644)
Other Operating Income and Expense, net3,169 
Other Costs(28,184)
Loss Before Income Tax$(124,333)
(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 and insurance proceeds associated with the Leer South combustion-related event.
High CV ThermalMetallurgicalPRBCore Marine Terminal
Corporate and Other (a)
Consolidated
Segment Assets (b)
$2,179,909 $2,140,661 $422,024 $92,521 $1,360,773 $6,195,888 
Depreciation, Depletion and Amortization$156,153 $186,587 $25,241 $4,171 $69,673 $441,825 
Capital Expenditures$122,812 $57,192 $6,785 $5,884 $10,631 $203,304 
(a) Includes various corporate and diversified business activities excluded from our reportable segments to reconcile to consolidated totals.
(b) Represents assets as of September 30, 2025.
In the three and nine months ended September 30, 2026 and 2025, no individual customer accounted for more than 10% of consolidated revenues.