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Revenue Recognition | 9 Months Ended
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Sep. 30, 2025
Revenue Recognition [Abstract] |
Revenue Recognition | Revenue Recognition Refer to Note 1. “Summary of Significant Accounting Policies” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, for the Company’s policies regarding “Revenue” and “Accounts receivable, net.” Disaggregation of Revenue Revenue by product type and market is set forth in the following tables. With respect to its seaborne reportable 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 September 30, 2025
| Seaborne Thermal |  | Seaborne Metallurgical |  | Powder River Basin |  | Other U.S. Thermal |  | Corporate and Other (1) |  | Consolidated
| (Dollars in millions)
Thermal coal |  |  |  |  |  |  |  |  |  |  |
Domestic | $ | 33.6 |  |  | $ | — |  |  | $ | 301.4 |  |  | $ | 192.0 |  |  | $ | — |  |  | $ | 527.0 |
Export | 208.8 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 208.8 |
Total thermal | 242.4 |  |  | — |  |  | 301.4 |  |  | 192.0 |  |  | — |  |  | 735.8 |
Metallurgical coal |  |  |  |  |  |  |  |  |  |  |
Export | — |  |  | 258.5 |  |  | — |  |  | — |  |  | — |  |  | 258.5 |
Total metallurgical | — |  |  | 258.5 |  |  | — |  |  | — |  |  | — |  |  | 258.5 |
Other | 0.3 |  |  | 0.4 |  |  | — |  |  | — |  |  | 17.1 |  |  | 17.8 |
Revenue | $ | 242.7 |  |  | $ | 258.9 |  |  | $ | 301.4 |  |  | $ | 192.0 |  |  | $ | 17.1 |  |  | $ | 1,012.1 |
| Three Months Ended September 30, 2024
| Seaborne Thermal |  | Seaborne Metallurgical |  | Powder River Basin |  | Other U.S. Thermal |  | Corporate and Other (1) |  | Consolidated
| (Dollars in millions)
Thermal coal |  |  |  |  |  |  |  |  |  |  |
Domestic | $ | 38.8 |  |  | $ | — |  |  | $ | 304.2 |  |  | $ | 214.0 |  |  | $ | — |  |  | $ | 557.0 |
Export | 272.4 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 272.4 |
Total thermal | 311.2 |  |  | — |  |  | 304.2 |  |  | 214.0 |  |  | — |  |  | 829.4 |
Metallurgical coal |  |  |  |  |  |  |  |  |  |  |
Export | — |  |  | 240.4 |  |  | — |  |  | — |  |  | — |  |  | 240.4 |
Total metallurgical | — |  |  | 240.4 |  |  | — |  |  | — |  |  | — |  |  | 240.4 |
Other | 2.0 |  |  | 2.1 |  |  | 1.1 |  |  | 2.7 |  |  | 10.3 |  |  | 18.2 |
Revenue | $ | 313.2 |  |  | $ | 242.5 |  |  | $ | 305.3 |  |  | $ | 216.7 |  |  | $ | 10.3 |  |  | $ | 1,088.0 |
| Nine Months Ended September 30, 2025
| Seaborne Thermal |  | Seaborne Metallurgical |  | Powder River Basin |  | Other U.S. Thermal |  | Corporate and Other (1) |  | Consolidated
| (Dollars in millions)
Thermal coal |  |  |  |  |  |  |  |  |  |  |
Domestic | $ | 107.1 |  |  | $ | — |  |  | $ | 852.6 |  |  | $ | 515.7 |  |  | $ | — |  |  | $ | 1,475.4 |
Export | 595.4 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 595.4 |
Total thermal | 702.5 |  |  | — |  |  | 852.6 |  |  | 515.7 |  |  | — |  |  | 2,070.8 |
Metallurgical coal |  |  |  |  |  |  |  |  |  |  |
Export | — |  |  | 730.1 |  |  | — |  |  | — |  |  | — |  |  | 730.1 |
Total metallurgical | — |  |  | 730.1 |  |  | — |  |  | — |  |  | — |  |  | 730.1 |
Other | 0.4 |  |  | 1.1 |  |  | 0.1 |  |  | 0.1 |  |  | 36.6 |  |  | 38.3 |
Revenue | $ | 702.9 |  |  | $ | 731.2 |  |  | $ | 852.7 |  |  | $ | 515.8 |  |  | $ | 36.6 |  |  | $ | 2,839.2 |
| Nine Months Ended September 30, 2024 |  |  |  |
| Seaborne Thermal |  | Seaborne Metallurgical |  | Powder River Basin |  | Other U.S. Thermal |  | Corporate and Other (1) |  | Consolidated |  |  |  |
| (Dollars in millions) |  |  |  |
Thermal coal |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Domestic | $ | 116.3 |  |  | $ | — |  |  | $ | 779.7 |  |  | $ | 592.3 |  |  | $ | — |  |  | $ | 1,488.3 |  |  |  |  |
Export | 786.1 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 786.1 |  |  |  |  |
Total thermal | 902.4 |  |  | — |  |  | 779.7 |  |  | 592.3 |  |  | — |  |  | 2,274.4 |  |  |  |  |
Metallurgical coal |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Export | — |  |  | 778.4 |  |  | — |  |  | — |  |  | — |  |  | 778.4 |  |  |  |  |
Total metallurgical | — |  |  | 778.4 |  |  | — |  |  | — |  |  | — |  |  | 778.4 |  |  |  |  |
Other | 2.2 |  |  | 5.4 |  |  | 1.6 |  |  | 18.0 |  |  | 33.6 |  |  | 60.8 |  |  |  |  |
Revenue | $ | 904.6 |  |  | $ | 783.8 |  |  | $ | 781.3 |  |  | $ | 610.3 |  |  | $ | 33.6 |  |  | $ | 3,113.6 |  |  |  |  |
(1) Corporate and Other includes the following:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
| (Dollars in millions)
Revenue from physical sale of coal (2) | $ | 14.0 |  |  | $ | 5.9 |  |  | $ | 25.8 |  |  | $ | 20.1 |
Other | 3.1 |  |  | 4.4 |  |  | 10.8 |  |  | 13.5 |
Total Corporate and Other | $ | 17.1 |  |  | $ | 10.3 |  |  | $ | 36.6 |  |  | $ | 33.6 |
(2) Includes revenue recognized upon the physical sale of coal purchased from the Company’s reportable segments and sold to customers through the Company’s coal trading business. Primarily represents the difference between the price contracted with the customer and the price allocated to the reportable segment. Accounts Receivable “Accounts receivable, net” at September 30, 2025 and December 31, 2024 consisted of the following:
| September 30, 2025 |  | December 31, 2024
| (Dollars in millions)
Trade receivables, net | $ | 254.6 |  |  | $ | 294.9 |
Miscellaneous receivables, net | 52.6 |  |  | 64.4 |
Accounts receivable, net | $ | 307.2 |  |  | $ | 359.3 |
None of the above receivables included allowances for credit losses at September 30, 2025 or December 31, 2024. No charges for credit losses were recognized during the three and nine months ended September 30, 2025 or 2024.

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