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v3.25.4

Segment and Geographic Information (Tables) | 12 Months Ended
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Dec. 31, 2025
Segment Reporting [Abstract] |
Operating segment results | egment results for the year ended December 31, 2025 were as follows:
| Seaborne Thermal |  | Seaborne Metallurgical |  | Powder River Basin |  | Other U.S. Thermal |  | Reportable Segment Totals
| (Dollars in millions)
Revenue | $ | 908.5 |  |  | $ | 1,036.6 |  |  | $ | 1,153.0 |  |  | $ | 707.3 |  |  | $ | 3,805.4 |
Less Significant Segment Expenses: |  |  |  |  |  |  |  |  |
Labor costs | 140.3 |  |  | 246.1 |  |  | 212.7 |  |  | 205.3 |  |  |
Repair costs | 113.0 |  |  | 195.6 |  |  | 145.4 |  |  | 150.0 |  |  |
Outside services | 111.5 |  |  | 355.0 |  |  | 130.3 |  |  | 147.7 |  |  |
Commodities expense | 80.6 |  |  | 58.7 |  |  | 160.8 |  |  | 76.3 |  |  |
Sales related costs | 196.3 |  |  | 238.2 |  |  | 281.1 |  |  | 43.1 |  |  |
Other expenses (1) | 44.6 |  |  | (113.4) |  |  | 46.9 |  |  | 13.5 |  |  |
Adjusted EBITDA | 222.2 |  |  | 56.4 |  |  | 175.8 |  |  | 71.4 |  |  | 525.8 |
Additions to property, plant, equipment and mine development | 39.8 |  |  | 309.4 |  |  | 33.1 |  |  | 24.0 |  |  | 406.3 |
Reportable segment results for the year ended December 31, 2024 were as follows:
| Seaborne Thermal |  | Seaborne Metallurgical |  | Powder River Basin |  | Other U.S. Thermal |  | Reportable Segment Totals
| (Dollars in millions)
Revenue | $ | 1,213.9 |  |  | $ | 1,055.6 |  |  | $ | 1,098.8 |  |  | $ | 822.6 |  |  | $ | 4,190.9 |
Less Significant Segment Expenses: |  |  |  |  |  |  |  |  |
Labor costs | 157.2 |  |  | 212.7 |  |  | 206.8 |  |  | 218.6 |  |  |
Repair costs | 152.8 |  |  | 190.8 |  |  | 131.7 |  |  | 141.0 |  |  |
Outside services | 128.7 |  |  | 258.9 |  |  | 123.2 |  |  | 146.8 |  |  |
Commodities expense | 88.6 |  |  | 59.6 |  |  | 158.5 |  |  | 77.0 |  |  |
Sales related costs | 224.3 |  |  | 231.6 |  |  | 297.5 |  |  | 53.0 |  |  |
Other expenses (1) | 32.3 |  |  | (140.5) |  |  | 42.5 |  |  | 35.4 |  |  |
Adjusted EBITDA | 430.0 |  |  | 242.5 |  |  | 138.6 |  |  | 150.8 |  |  | 961.9 |
Additions to property, plant, equipment and mine development | 73.2 |  |  | 266.6 |  |  | 35.0 |  |  | 18.6 |  |  | 393.4 |
Reportable segment results for the year ended December 31, 2023 were as follows:
| Seaborne Thermal |  | Seaborne Metallurgical |  | Powder River Basin |  | Other U.S. Thermal |  | Reportable Segment Totals
| (Dollars in millions)
Revenue | $ | 1,329.7 |  |  | $ | 1,301.9 |  |  | $ | 1,198.1 |  |  | $ | 888.2 |  |  | $ | 4,717.9 |
Less Significant Segment Expenses: |  |  |  |  |  |  |  |  |
Labor costs | 148.8 |  |  | 187.2 |  |  | 201.1 |  |  | 218.8 |  |  |
Repair costs | 154.4 |  |  | 151.3 |  |  | 154.9 |  |  | 153.4 |  |  |
Outside services | 122.7 |  |  | 205.1 |  |  | 138.0 |  |  | 176.2 |  |  |
Commodities expense | 97.0 |  |  | 61.5 |  |  | 180.2 |  |  | 102.7 |  |  |
Sales related costs | 207.4 |  |  | 259.0 |  |  | 341.9 |  |  | 58.7 |  |  |
Other expenses (1) | 22.6 |  |  | (0.3) |  |  | 28.3 |  |  | (29.1) |  |  |
Adjusted EBITDA | 576.8 |  |  | 438.1 |  |  | 153.7 |  |  | 207.5 |  |  | 1,376.1 |
Additions to property, plant, equipment and mine development | 62.0 |  |  | 186.4 |  |  | 40.9 |  |  | 47.6 |  |  | 336.9 |
(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 year ended December 31, 2024, the Seaborne Metallurgical reportable 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 Assets from Segment to Consolidated | The following table presents total assets at the division level:
| December 31,
| 2025 |  | 2024 |  | 2023
| (Dollars in millions)
Seaborne | $ | 2,543.4 |  |  | $ | 2,465.3 |  |  | $ | 2,088.2 |
U.S. Thermal | 1,301.7 |  |  | 1,346.9 |  |  | 1,373.2 |
Corporate and Other | 1,962.1 |  |  | 2,141.5 |  |  | 2,500.7 |
Total assets | $ | 5,807.2 |  |  | $ | 5,953.7 |  |  | $ | 5,962.1 |
Reconciliation of Adjusted EBITDA to consolidated loss from continuing operations | A reconciliation of reportable segment totals follows:
| Year Ended December 31,
| 2025 |  | 2024 |  | 2023
| (Dollars in millions)
Revenue from reportable segments | $ | 3,805.4 |  |  | $ | 4,190.9 |  |  | $ | 4,717.9 |
Reconciling items |  |  |  |  |
Corporate and Other (1) | 56.1 |  |  | 45.8 |  |  | 228.8 |
Revenue | $ | 3,861.5 |  |  | $ | 4,236.7 |  |  | $ | 4,946.7 |
Adjusted EBITDA from reportable segments | $ | 525.8 |  |  | $ | 961.9 |  |  | $ | 1,376.1 |
Reconciling items |  |  |  |  |
Corporate and Other (1) | (70.9) |  |  | (90.2) |  |  | (12.2) |
Depreciation, depletion and amortization | (384.5) |  |  | (343.0) |  |  | (321.4) |
Asset retirement obligation expenses | (36.5) |  |  | (48.9) |  |  | (50.5) |
Restructuring charges | (9.5) |  |  | (4.4) |  |  | (3.3) |
Costs related to terminated acquisition | (78.9) |  |  | (10.3) |  |  | — |
Shoal Creek insurance recovery - property damage | — |  |  | 28.7 |  |  | — |
Changes in amortization of basis difference related to equity affiliates | 2.7 |  |  | 1.8 |  |  | 1.6 |
Other operating loss | (5.6) |  |  | (3.7) |  |  | (42.9) |
Interest expense, net of capitalized interest | (43.9) |  |  | (46.9) |  |  | (59.8) |
Net loss on early debt extinguishment | — |  |  | — |  |  | (8.8) |
Interest income | 55.4 |  |  | 71.0 |  |  | 76.8 |
Net mark-to-market adjustment on actuarially determined liabilities | 5.4 |  |  | 6.1 |  |  | 0.3 |
Unrealized gains on derivative contracts related to forecasted sales | — |  |  | — |  |  | 159.0 |
Unrealized gains (losses) on foreign currency option contracts | 6.0 |  |  | (9.0) |  |  | 7.4 |
Take-or-pay contract-based intangible recognition | 1.0 |  |  | 3.0 |  |  | 2.5 |
(Loss) income from continuing operations before incomes taxes | $ | (33.5) |  |  | $ | 516.1 |  |  | $ | 1,124.8 |
Additions to property, plant, equipment and mine development from reportable segments | $ | 406.3 |  |  | $ | 393.4 |  |  | $ | 336.9 |
Reconciling items |  |  |  |  |
Corporate and Other | 5.1 |  |  | 7.9 |  |  | 11.4 |
Additions to property, plant, equipment and mine development | $ | 411.4 |  |  | $ | 401.3 |  |  | $ | 348.3 |
(1) Corporate and Other 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.
Revenues as a percent of total revenue from external customers by geographic region | The following table presents revenue as a percent of total revenue from external customers by geographic region:
| Year Ended December 31,
| 2025 |  | 2024 |  | 2023
U.S. | 48.4 | % |  | 45.0 | % |  | 42.4 | %
Japan | 15.9 | % |  | 18.8 | % |  | 14.7 | %
Australia | 7.9 | % |  | 8.8 | % |  | 8.9 | %
China | 7.5 | % |  | 11.3 | % |  | 10.9 | %
India | 5.6 | % |  | 1.2 | % |  | 1.2 | %
Indonesia | 2.2 | % |  | 2.4 | % |  | 2.0 | %
South Korea | 2.2 | % |  | 0.6 | % |  | — | %
Taiwan | 2.0 | % |  | 3.3 | % |  | 6.6 | %
Vietnam | 1.8 | % |  | 0.9 | % |  | 2.4 | %
Brazil | 1.5 | % |  | 2.0 | % |  | 3.6 | %
Belgium | 1.0 | % |  | 1.3 | % |  | 0.6 | %
France | 0.8 | % |  | 1.1 | % |  | 1.6 | %
Malaysia | 0.6 | % |  | 1.5 | % |  | 0.9 | %
Germany | 0.3 | % |  | 0.2 | % |  | 1.0 | %
Other | 2.3 | % |  | 1.6 | % |  | 3.2 | %
Total | 100.0 | % |  | 100.0 | % |  | 100.0 | %
Long-Lived Assets by Geographic Areas | The following table presents the geographic location of the Company’s long-lived assets:
| December 31,
| 2025 |  | 2024 |  | 2023
| (Dollars in millions)
U.S. | $ | 1,334.4 |  |  | $ | 1,432.1 |  |  | $ | 1,523.1 |
Australia | 1,818.9 |  |  | 1,649.4 |  |  | 1,321.0 |
Property, plant, equipment and mine development, net | $ | 3,153.3 |  |  | $ | 3,081.5 |  |  | $ | 2,844.1 |
U.S. | $ | 96.0 |  |  | $ | 85.6 |  |  | $ | 28.7 |
Australia | 25.1 |  |  | 33.7 |  |  | 33.1 |
Other | 0.1 |  |  | — |  |  | 0.1 |
Operating lease right-of-use assets | $ | 121.2 |  |  | $ | 119.3 |  |  | $ | 61.9 |

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