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Business Segment Information (Tables)

3 Months Ended

Mar. 31, 2020

Segment Reporting [Abstract]

Segment Operating Results

The following table presents the Company's operating segment results for the three months ended March 31, 2020 and 2019:

		Three Months Ended March 31,
(in thousands)		2020				2019
Revenues:
Refined Coal:
Earnings in equity method investments		$	8,273			$	21,690
License royalties, related party		3,046				4,220
		11,319				25,910
Power Generation and Industrials:
Consumables		8,475				14,553
		8,475				14,553
Total segment reporting revenues		19,794				40,463
Adjustments to reconcile to reported revenues:
Earnings in equity method investments		(8,273		)		(21,690		)
Corporate and other		742				556
Total reported revenues		$	12,263			$	19,329
Segment operating income (loss):
Refined Coal (1)		$	10,860			$	25,233
Power Generation and Industrials (2)		(6,577		)		(3,462		)
Total segment operating income		$	4,283			$	21,771

(1) Included in RC segment operating income for the three months ended March 31, 2020 and 2019 is 453A interest expense of $0.1 million and $0.3 million, respectively.

(2) Included in PGI segment operating loss for the three months ended March 31, 2020 and 2019 was $2.0 million and $2.0 million, respectively, of depreciation, amortization, and depletion expense on mine and plant long-lived assets. Included in PGI segment operating loss for the three months ended March 31, 2019 was $3.4 million of costs recognized as a result of the step-up in inventory fair value recorded from the Carbon Solutions Acquisition.

Reconciliation of Reportable Segment Amounts to Consolidated Balances

A reconciliation of reportable segment operating income to the Company's consolidated income before income tax expense is as follows:

		Three Months Ended March 31,
(in thousands)		2020				2019
Total reported segment operating income		$	4,283			$	21,771
Other operating loss		(793		)		(398		)
		3,490				21,373
Adjustments to reconcile to (loss) income before income tax expense attributable to the Company:
Corporate payroll and benefits		(709		)		(432		)
Corporate legal and professional fees		(1,749		)		(1,811		)
Corporate general and administrative		(1,599		)		(1,434		)
Corporate depreciation and amortization		(26		)		(13		)
Corporate interest (expense) income, net		(942		)		(1,582		)
(Loss) income before income tax expense		$	(1,535	)		$	16,101

Reconciliation of Assets from Segment to Consolidated

A reconciliation of reportable segment assets to the Company's consolidated assets is as follows:

		As of
(in thousands)		March 31, 2020				December 31, 2019
Assets:
Refined Coal (1)		$	33,940			$	43,953
Power Generation and Industrials		78,539				80,912
Total segment assets		112,479				124,865
All Other and Corporate (2)		47,704				48,934
Consolidated		$	160,183			$	173,799

(1) Includes $30.3 million and $39.2 million of investments in equity method investees, respectively.

(2) Includes the Company's deferred tax assets.

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