Revenue Recognition (Tables)

3 Months Ended

Mar. 31, 2023

Disaggregation of Revenue by Product Type and Market

With respect to its seaborne reporting segments, the Company classifies as “Export” certain revenue from domestically-delivered coal under contracts in which the price is derived on a basis similar to export contracts.


	Three Months Ended March 31, 2023
	Seaborne Thermal Mining		Seaborne Metallurgical Mining		Powder River Basin Mining		Other U.S. Thermal Mining		Corporate and Other (1)		Consolidated
	(Dollars in millions)
Thermal coal
Domestic	$	37.5	$	—	$	305.0	$	247.9	$	—	$	590.4
Export	308.8		—		—		—		—		308.8
Total thermal	346.3		—		305.0		247.9		—		899.2
Metallurgical coal

Export	—		287.2		—		—		—		287.2
Total metallurgical	—		287.2		—		—		—		287.2
Other (2)	0.2		1.2		0.3		1.5		174.4		177.6
Revenue	$	346.5	$	288.4	$	305.3	$	249.4	$	174.4	$	1,364.0


	Three Months Ended March 31, 2022
	Seaborne Thermal Mining		Seaborne Metallurgical Mining		Powder River Basin Mining		Other U.S. Thermal Mining		Corporate and Other (1)		Consolidated
	(Dollars in millions)
Thermal coal
Domestic	$	40.4	$	—	$	251.5	$	199.9	$	—	$	491.8
Export	210.5		—		—		—		—		210.5
Total thermal	250.9		—		251.5		199.9		—		702.3
Metallurgical coal

Export	—		318.0		—		—		—		318.0
Total metallurgical	—		318.0		—		—		—		318.0
Other (2)	0.3		3.3		(0.3)		3.2		(335.4)		(328.9)
Revenue	$	251.2	$	321.3	$	251.2	$	203.1	$	(335.4)	$	691.4

(1) Corporate and Other includes the following:


	Three Months Ended March 31,
		2023		2022
		(Dollars in millions)
Unrealized gains (losses) on derivative contracts related to forecasted sales		$	118.7	$	(301.0)
Realized losses on derivative contracts related to forecasted sales		(50.6)		(68.0)
Revenue from physical sale of coal (3)		84.5		19.1
Trading revenue		—		10.1
Other (2)		21.8		4.4
Total Corporate and Other		$	174.4	$	(335.4)

(2) Includes revenue from arrangements such as customer contract-related payments associated with volume shortfalls; royalties related to coal lease agreements; sales agency commissions; farm income; property and facility rentals; and revenue related to the Company’s assignment of rights to its excess port and rail capacity.

(3) Includes revenue recognized upon the physical sale of coal purchased from the Company’s operating segments and sold to customers through the Company’s coal trading business as part of settling certain derivative contracts. Primarily represents the difference between the price contracted with the customer and the price allocated to the operating segment.

Schedule of Accounts Receivable

“Accounts receivable, net” at March 31, 2023 and December 31, 2022 consisted of the following:


	March 31, 2023		December 31, 2022
	(Dollars in millions)
Trade receivables, net	$	353.2	$	416.3
Miscellaneous receivables, net	41.5		49.2
Accounts receivable, net	$	394.7	$	465.5