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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

Income tax expense consisted of the following (in thousands):

						For the years ended December 31,
						2024						2023						2022
Current
Federal						$	41,112					$	19,914					$	—
State						3						5						—
						41,115						19,919						—
Deferred
Federal						(10,696)						51,153						143,897
State						2,644						1,718						(2,091)
						(8,052)						52,871						141,806
Total						$	33,063					$	72,790					$	141,806

Schedule of Effective Income Tax Rate Reconciliation

Total income tax expense differs from the expected tax expense (computed by multiplying the U.S. federal statutory rate of 21% by income before income taxes) as a result of the following (in thousands):

			For the years ended December 31,
			2024												2023												2022
			Amount						Rate						Amount						Rate						Amount						Rate
Income before income tax expense			283,666												551,419												783,104
Tax expense at statutory tax rate			$	59,570					21.0		%				$	115,798					21.0		%				$	164,452					21.0		%
Effect of:
Executive compensation limitation			4,595						1.6		%				3,548						0.6		%				3,659						0.5		%
Foreign-derived intangible income deduction			(12,118)						(4.3)		%				(26,077)						(4.7)		%				—						—		%
Percentage depletion			(14,400)						(5.1)		%				(21,811)						(4.0)		%				(23,638)						(3.0)		%
State and local income tax, net of federal effect			2,370						0.8		%				1,508						0.3		%				(2,404)						(0.3)		%
Marginal well tax credit			(4,943)						(1.7)		%				—						—		%				(87)						—		%
Other			(2,011)						(0.7)		%				(176)						—		%				(176)						—		%
Tax expense recognized			$	33,063					11.7		%				$	72,790					13.2		%				$	141,806					18.1		%

Schedule of Deferred Tax Assets and Liabilities

Significant components of the Company's deferred income tax assets and liabilities were (in thousands):

			December 31, 2024						December 31, 2023
Deferred income tax assets:
Net operating loss and credit carryforwards			$	48,804					$	47,940
Inventory			8,670						2,204
Asset retirement obligations			18,114						17,900
Black lung obligations			7,793						6,134
Accrued expenses			8,861						6,259
Other			1,852						1,299
Total deferred income tax assets			94,094						81,736
Less: valuation allowance for deferred income tax assets			(44,674)						(41,016)
Net deferred income tax assets			49,420						40,720
Deferred income tax liabilities:
Prepaid expenses			(10,930)						(6,757)
Property, plant and equipment			(98,283)						(100,834)
Other			(832)						(1,806)
Total deferred income tax liabilities			(110,045)						(109,397)
Net deferred income tax liability			$	(60,625)					$	(68,677)

Summary of Valuation Allowance

The following table shows the balance of the Company's valuation allowance and the associated activity during 2024 :

									December 31, 2024
Beginning balance									$	41,016
Addition - deferred income tax expense									3,658
Ending balance									$	44,674

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

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-Topic 740
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-Name Accounting Standards Codification
-Section 55
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-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

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Tabular disclosure of valuation allowances to reduce deferred tax assets to net realizable value, including identification of the deferred tax asset more likely than not will not be fully realized and the corresponding amount of the valuation allowance.

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