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v3.25.1

Segment Information (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2025
Segment Reporting [Abstract] |
Reconciliation of Assets from Segment to Consolidated | The following table presents total assets at the division level:
| March 31, 2025 |  | December 31, 2024
| (Dollars in millions)
Seaborne | $ | 2,434.6 |  |  | $ | 2,465.3 |
U.S. Thermal | 1,315.0 |  |  | 1,346.9 |
Corporate and Other | 2,034.1 |  |  | 2,141.5 |
Total assets | $ | 5,783.7 |  |  | $ | 5,953.7 |
Reportable Segment Results | Segment results for the three months ended March 31, 2025 were as follows:
| Seaborne Thermal |  | Seaborne Metallurgical |  | Powder River Basin |  | Other U.S. Thermal |  | Corporate and Other |  | Consolidated
| (Dollars in millions)
Revenue | $ | 265.1 |  |  | $ | 220.1 |  |  | $ | 275.6 |  |  | $ | 168.7 |  |  | $ | 7.5 |  |  | $ | 937.0 |
Less Significant Segment Expenses: |  |  |  |  |  |  |  |  |  |  |
Labor costs | 35.1 |  |  | 55.0 |  |  | 49.8 |  |  | 50.2 |  |  |  |  |
Repair costs | 24.8 |  |  | 47.0 |  |  | 31.5 |  |  | 34.1 |  |  |  |  |
Outside services | 26.8 |  |  | 72.1 |  |  | 31.1 |  |  | 35.8 |  |  |  |  |
Commodities expense | 19.1 |  |  | 13.4 |  |  | 38.7 |  |  | 19.5 |  |  |  |  |
Sales related costs | 54.6 |  |  | 54.0 |  |  | 75.3 |  |  | 10.0 |  |  |  |  |
Other expenses (1) | 20.5 |  |  | (34.6) |  |  | 12.9 |  |  | (13.8) |  |  |  |  |
Adjusted EBITDA | 84.2 |  |  | 13.2 |  |  | 36.3 |  |  | 32.9 |  |  | (22.6) |  |  | 144.0 |
Additions to property, plant, equipment and mine development | 8.5 |  |  | 53.2 |  |  | 3.9 |  |  | 4.6 |  |  | 0.2 |  |  | 70.4 |
Loss from equity affiliates | — |  |  | — |  |  | — |  |  | — |  |  | 6.7 |  |  | 6.7 |
Segment results for the three months ended March 31, 2024 were as follows:
| Seaborne Thermal |  | Seaborne Metallurgical |  | Powder River Basin |  | Other U.S. Thermal |  | Corporate and Other |  | Consolidated
| (Dollars in millions)
Revenue | $ | 283.9 |  |  | $ | 247.0 |  |  | $ | 254.1 |  |  | $ | 191.6 |  |  | $ | 7.0 |  |  | $ | 983.6 |
Less Significant Segment Expenses: |  |  |  |  |  |  |  |  |  |  |
Labor costs | 37.7 |  |  | 49.3 |  |  | 51.8 |  |  | 52.9 |  |  |  |  |
Repair costs | 37.9 |  |  | 32.7 |  |  | 34.9 |  |  | 32.4 |  |  |  |  |
Outside services | 31.0 |  |  | 54.6 |  |  | 31.9 |  |  | 36.6 |  |  |  |  |
Commodities expense | 23.9 |  |  | 15.7 |  |  | 41.1 |  |  | 19.3 |  |  |  |  |
Sales related costs | 52.1 |  |  | 52.0 |  |  | 69.8 |  |  | 13.6 |  |  |  |  |
Other expenses (1) | 7.5 |  |  | (5.6) |  |  | 8.2 |  |  | (9.7) |  |  |  |  |
Adjusted EBITDA | 93.8 |  |  | 48.3 |  |  | 16.4 |  |  | 46.5 |  |  | (44.5) |  |  | 160.5 |
Additions to property, plant, equipment and mine development | 14.5 |  | 39.4 |  | 5.0 |  | 2.3 |  | 0.2 |  | 61.4
Loss from equity affiliates | — |  |  | — |  |  | — |  |  | — |  |  | 3.7 |  | 3.7 |
(1) Other expenses for the mining operations primarily include lease expense; non-sales related taxes; insurance expense; joint facility charges; and credits related to the capitalization of costs to the balance sheet.
Reconciliation of Consolidated (Loss) Income from Continuing Operations, Net of Income Taxes to Adjusted EBITDA | A reconciliation of consolidated income from continuing operations before income taxes to Adjusted EBITDA follows:
|  |  | Three Months Ended March 31,
|  |  |  |  | 2025 |  | 2024
|  |  |  |  | (Dollars in millions)
Income from continuing operations before incomes taxes |  |  |  |  | $ | 43.2 |  |  | $ | 65.8 |
Depreciation, depletion and amortization |  |  |  |  | 92.1 |  |  | 79.8 |
Asset retirement obligation expenses |  |  |  |  | 13.6 |  |  | 12.9 |
Restructuring charges |  |  |  |  | 1.7 |  |  | 0.1 |
Transaction costs related to business combinations |  |  |  |  | 2.4 |  |  | — |
Provision for NARM loss |  |  |  |  | — |  |  | 1.8 |
Changes in amortization of basis difference related to equity affiliates |  |  |  |  | (0.6) |  |  | (0.4) |
Interest expense, net of capitalized interest |  |  |  |  | 11.5 |  |  | 14.7 |
Interest income |  |  |  |  | (15.4) |  |  | (19.2) |
Unrealized (gains) losses on foreign currency option contracts |  |  |  |  | (4.3) |  |  | 5.7 |
Take-or-pay contract-based intangible recognition |  |  |  |  | (0.2) |  |  | (0.7) |
Total Adjusted EBITDA |  |  |  |  | $ | 144.0 |  |  | $ | 160.5 |

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