| Schedule of Reconciliations of Segment Information to Consolidated Amounts |
The following tables include reconciliations of segment information to consolidated amounts (in thousands):
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For the year ended December 31, |
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2025 |
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2024 |
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|
2023 |
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Revenues |
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Mining |
|
$ |
1,277,024 |
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|
$ |
1,499,980 |
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|
$ |
1,647,992 |
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All other |
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|
33,019 |
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|
|
25,240 |
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|
|
28,633 |
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Total revenues |
|
$ |
1,310,043 |
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|
$ |
1,525,220 |
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|
$ |
1,676,625 |
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Segment profit |
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Revenue |
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$ |
1,277,024 |
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|
$ |
1,499,980 |
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|
$ |
1,647,992 |
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Cash cost of sales(1) |
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|
975,384 |
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|
999,188 |
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|
904,319 |
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Other segment items(2) |
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|
7,017 |
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|
8,109 |
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|
5,950 |
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Segment profit |
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$ |
294,623 |
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|
$ |
492,683 |
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$ |
737,723 |
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Transportation and royalties |
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Mining |
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$ |
333,042 |
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$ |
367,059 |
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|
$ |
367,949 |
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All other |
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|
— |
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|
|
— |
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|
|
263 |
|
Total transportation and royalties |
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$ |
333,042 |
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|
$ |
367,059 |
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|
$ |
368,212 |
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Assets |
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Mining |
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$ |
2,632,118 |
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|
$ |
2,456,973 |
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|
$ |
2,220,771 |
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All other |
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|
151,681 |
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|
|
134,543 |
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|
136,287 |
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Total assets |
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$ |
2,783,799 |
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|
$ |
2,591,516 |
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|
$ |
2,357,058 |
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|
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Depreciation and depletion |
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Mining |
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$ |
180,067 |
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$ |
145,229 |
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|
$ |
120,192 |
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All other |
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|
8,498 |
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|
8,753 |
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|
7,164 |
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Total depreciation and depletion |
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$ |
188,565 |
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$ |
153,982 |
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$ |
127,356 |
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Capital Expenditures |
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Mining |
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$ |
315,258 |
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$ |
450,713 |
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|
$ |
484,730 |
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All other |
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|
5,003 |
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|
6,508 |
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|
6,944 |
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Total capital expenditures |
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$ |
320,261 |
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|
$ |
457,221 |
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|
$ |
491,674 |
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(1)The significant expense category and amounts align with the segment-level information that is regularly reviewed by the CODM. Cash cost of sales includes transportation and royalties and excludes depreciation and depletion as presented above. (2)Other segment items include non-cash charges to cost of sales of asset retirement obligation accretion and valuation adjustments and stock compensation expense. |
| Schedule of Revenue by Major Customers |
For the years ended December 31, 2025, 2024, and 2023 the Company's Mining segment had revenues comprising greater than 10% from the following customers:
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For the year ended December 31, |
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2025 |
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2024 |
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2023 |
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Customer A |
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$ |
154,167 |
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|
$ |
— |
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|
$ |
— |
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Customer B |
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— |
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190,138 |
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|
205,699 |
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Customer C |
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— |
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|
190,811 |
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— |
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Customer D |
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— |
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|
178,087 |
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|
246,443 |
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Customer E |
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— |
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— |
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|
195,283 |
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•Customers with a zero did not trip the 10% quantitative threshold for that period. |
| Schedule of Reconciliation of Segment Adjusted EBITDA to Net Income |
Below is a reconciliation of Segment Adjusted EBITDA to net income, which is its most directly comparable financial measure calculated and presented in accordance with GAAP (in thousands):
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For the year ended December 31, |
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2025 |
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2024 |
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|
2023 |
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Segment Adjusted EBITDA |
|
$ |
294,623 |
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|
$ |
492,683 |
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|
$ |
737,723 |
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Other revenues |
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|
33,019 |
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|
25,240 |
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|
28,633 |
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Cost of other revenues |
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|
(27,668 |
) |
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|
(45,449 |
) |
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|
(37,486 |
) |
Depreciation and depletion |
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|
(188,565 |
) |
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|
(153,982 |
) |
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|
(127,356 |
) |
Selling, general and administrative |
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|
(65,681 |
) |
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|
(63,078 |
) |
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|
(51,817 |
) |
Business interruption |
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|
(19 |
) |
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|
(524 |
) |
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|
(8,291 |
) |
Loss on early extinguishment of debt |
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|
— |
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|
|
— |
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(11,699 |
) |
Other (expense) income |
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|
— |
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|
|
— |
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|
|
(1,027 |
) |
Interest income |
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|
18,477 |
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|
|
33,047 |
|
|
|
40,699 |
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Interest expense |
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(9,742 |
) |
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(4,271 |
) |
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|
(17,960 |
) |
Income before income taxes |
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|
54,444 |
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|
283,666 |
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|
551,419 |
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Income tax benefit (expense) |
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|
2,554 |
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(33,063 |
) |
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|
(72,790 |
) |
Net income |
|
$ |
56,998 |
|
|
$ |
250,603 |
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|
$ |
478,629 |
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