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v3.25.3

Segment Information (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2025
Segment Reporting [Abstract] |
Reconciliation of Assets from Division to Consolidated | The following table presents total assets at the division level:
| September 30, 2025 |  | December 31, 2024
| (Dollars in millions)
Seaborne | $ | 2,466.8 |  |  | $ | 2,465.3 |
U.S. Thermal | 1,296.6 |  |  | 1,346.9 |
Corporate and Other | 1,980.9 |  |  | 2,141.5 |
Total assets | $ | 5,744.3 |  |  | $ | 5,953.7 |
Reportable Segment Results | Segment results were as follows:
| Three Months Ended September 30, 2025
| Seaborne Thermal |  | Seaborne Metallurgical |  | Powder River Basin |  | Other U.S. Thermal |  | Segment Totals
| (Dollars in millions)
Revenue | $ | 242.7 |  |  | $ | 258.9 |  |  | $ | 301.4 |  |  | $ | 192.0 |  |  | $ | 995.0 |
Less Significant Segment Expenses: |  |  |  |  |  |  |  |  |
Labor costs | 35.8 |  |  | 62.4 |  |  | 56.5 |  |  | 54.3 |  |  |
Repair costs | 29.3 |  |  | 48.5 |  |  | 38.8 |  |  | 40.5 |  |  |
Outside services | 31.2 |  |  | 100.4 |  |  | 35.0 |  |  | 40.8 |  |  |
Commodities expense | 20.6 |  |  | 17.1 |  |  | 42.3 |  |  | 19.2 |  |  |
Sales related costs | 54.0 |  |  | 56.1 |  |  | 66.2 |  |  | 11.5 |  |  |
Other expenses (1) | 30.8 |  |  | (53.4) |  |  | 10.9 |  |  | 18.8 |  |  |
Adjusted EBITDA | 41.0 |  |  | 27.8 |  |  | 51.7 |  |  | 6.9 |  |  | 127.4 |
Additions to property, plant, equipment and mine development | 8.2 |  |  | 87.8 |  |  | 11.5 |  |  | 7.7 |  |  | 115.2 |
| Three Months Ended September 30, 2024
| Seaborne Thermal |  | Seaborne Metallurgical |  | Powder River Basin |  | Other U.S. Thermal |  | Segment Totals
| (Dollars in millions)
Revenue | $ | 313.2 |  |  | $ | 242.5 |  |  | $ | 305.3 |  |  | $ | 216.7 |  |  | $ | 1,077.7 |
Less Significant Segment Expenses: |  |  |  |  |  |  |  |  |
Labor costs | 38.8 |  |  | 54.1 |  |  | 50.9 |  |  | 54.8 |  |  |
Repair costs | 44.6 |  |  | 63.3 |  |  | 33.9 |  |  | 36.7 |  |  |
Outside services | 35.4 |  |  | 77.0 |  |  | 31.9 |  |  | 36.5 |  |  |
Commodities expense | 23.0 |  |  | 14.8 |  |  | 41.7 |  |  | 19.2 |  |  |
Sales related costs | 57.8 |  |  | 52.9 |  |  | 82.5 |  |  | 14.3 |  |  |
Other expenses (1) | (6.4) |  |  | (47.4) |  |  | 12.7 |  |  | 26.8 |  |  |
Adjusted EBITDA | 120.0 |  |  | 27.8 |  |  | 51.7 |  |  | 28.4 |  |  | 227.9 |
Additions to property, plant, equipment and mine development | 17.4 |  |  | 64.5 |  |  | 9.8 |  |  | 4.9 |  |  | 96.6 |
| Nine Months Ended September 30, 2025
| Seaborne Thermal |  | Seaborne Metallurgical |  | Powder River Basin |  | Other U.S. Thermal |  | Segment Totals
| (Dollars in millions)
Revenue | $ | 702.9 |  |  | $ | 731.2 |  |  | $ | 852.7 |  |  | $ | 515.8 |  |  | $ | 2,802.6 |
Less Significant Segment Expenses: |  |  |  |  |  |  |  |  |
Labor costs | 108.6 |  |  | 178.7 |  |  | 159.2 |  |  | 153.4 |  |  |
Repair costs | 83.1 |  |  | 136.9 |  |  | 102.9 |  |  | 114.2 |  |  |
Outside services | 84.9 |  |  | 258.3 |  |  | 94.9 |  |  | 114.2 |  |  |
Commodities expense | 59.6 |  |  | 43.1 |  |  | 116.8 |  |  | 56.4 |  |  |
Sales related costs | 153.4 |  |  | 168.8 |  |  | 215.4 |  |  | 30.9 |  |  |
Other expenses (1) | 54.6 |  |  | (86.4) |  |  | 32.5 |  |  | (6.6) |  |  |
Adjusted EBITDA | 158.7 |  |  | 31.8 |  |  | 131.0 |  |  | 53.3 |  |  | 374.8 |
Additions to property, plant, equipment and mine development | 26.3 |  |  | 213.9 |  |  | 20.9 |  |  | 17.7 |  |  | 278.8 |
| Nine Months Ended September 30, 2024
| Seaborne Thermal |  | Seaborne Metallurgical |  | Powder River Basin |  | Other U.S. Thermal |  | Segment Totals
| (Dollars in millions)
Revenue | $ | 904.6 |  |  | $ | 783.8 |  |  | $ | 781.3 |  |  | $ | 610.3 |  |  | $ | 3,080.0 |
Less Significant Segment Expenses: |  |  |  |  |  |  |  |  |
Labor costs | 117.9 |  |  | 155.8 |  |  | 152.2 |  |  | 162.8 |  |  |
Repair costs | 118.5 |  |  | 139.5 |  |  | 94.9 |  |  | 104.9 |  |  |
Outside services | 97.7 |  |  | 186.3 |  |  | 89.8 |  |  | 109.5 |  |  |
Commodities expense | 69.4 |  |  | 46.4 |  |  | 117.2 |  |  | 58.3 |  |  |
Sales related costs | 162.5 |  |  | 166.9 |  |  | 212.6 |  |  | 40.0 |  |  |
Other expenses (1) | 20.4 |  |  | (130.8) |  |  | 28.7 |  |  | 24.5 |  |  |
Adjusted EBITDA | 318.2 |  |  | 219.7 |  |  | 85.9 |  |  | 110.3 |  |  | 734.1 |
Additions to property, plant, equipment and mine development | 50.1 |  |  | 179.7 |  |  | 22.3 |  |  | 10.0 |  |  | 262.1 |
(1) Other expenses for the mining operations primarily include lease expense; non-sales related taxes; insurance expense; and joint facility charges; offset by credits related to the capitalization of costs to the consolidated balance sheet. For the nine months ended September 30, 2024, the Seaborne Metallurgical segment includes $80.8 million related to the portion of the Shoal Creek insurance recovery that was applicable to incremental costs and business interruption recoveries.
Reconciliation of Segment Totals | A reconciliation of segment totals follows:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
| (Dollars in millions)
Revenue from reportable segments | $ | 995.0 |  |  | $ | 1,077.7 |  |  | $ | 2,802.6 |  |  | $ | 3,080.0 |
Reconciling items |  |  |  |  |  |  |
Corporate and Other (1) | 17.1 |  | 10.3 |  | 36.6 |  | 33.6
Revenue | $ | 1,012.1 |  |  | $ | 1,088.0 |  |  | $ | 2,839.2 |  |  | $ | 3,113.6 |
Adjusted EBITDA from reportable segments | $ | 127.4 |  |  | $ | 227.9 |  |  | $ | 374.8 |  |  | $ | 734.1 |
Reconciling items |  |  |  |  |  |  |
Corporate and Other (1) | (27.9) |  |  | (3.1) |  |  | (38.0) |  |  | (39.1) |
Depreciation, depletion and amortization | (100.0) |  |  | (84.7) |  |  | (285.5) |  |  | (247.4) |
Asset retirement obligation expenses | (13.9) |  |  | (12.9) |  |  | (41.3) |  |  | (38.7) |
Restructuring charges | (4.0) |  |  | (1.9) |  |  | (9.2) |  |  | (2.1) |
Costs related to terminated acquisition | (54.0) |  |  | — |  |  | (75.2) |  |  | — |
Provision for NARM loss | — |  |  | — |  |  | — |  |  | (3.7) |
Shoal Creek insurance recovery - property damage | — |  |  | — |  |  | — |  |  | 28.7 |
Changes in amortization of basis difference related to equity affiliates | 0.5 |  |  | 0.4 |  |  | 1.9 |  |  | 1.1 |
Interest expense, net of capitalized interest | (10.0) |  |  | (9.7) |  |  | (32.6) |  |  | (35.1) |
Interest income | 13.9 |  |  | 17.7 |  |  | 43.1 |  |  | 53.7 |
Unrealized (losses) gains on foreign currency option contracts | (2.3) |  |  | 3.7 |  |  | 6.1 |  |  | 0.4 |
Take-or-pay contract-based intangible recognition | 0.3 |  |  | 0.8 |  |  | 0.8 |  |  | 2.3 |
(Loss) income from continuing operations before incomes taxes | $ | (70.0) |  |  | $ | 138.2 |  |  | $ | (55.1) |  |  | $ | 454.2 |
Additions to property, plant, equipment and mine development from reportable segments | $ | 115.2 |  |  | $ | 96.6 |  |  | $ | 278.8 |  |  | $ | 262.1 |
Reconciling items |  |  |  |  |  |  |
Corporate and Other (1) | 1.0 |  | 2.1 |  | 2.0 |  | 3.6
Additions to property, plant, equipment and mine development | $ | 116.2 |  |  | $ | 98.7 |  |  | $ | 280.8 |  |  | $ | 265.7 |
(1) The Company’s Corporate and Other operating segment includes selling and administrative expenses, results from equity method investments, trading and brokerage activities, minimum charges on certain transportation-related contracts, the closure of inactive mining sites, the impact of foreign currency remeasurement and certain commercial matters.

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