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Revenue Recognition | 12 Months Ended
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Dec. 31, 2025
Revenue Recognition [Abstract] |
Revenue Recognition | Revenue Recognition 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.
| Year Ended December 31, 2025
| Seaborne Thermal |  | Seaborne Metallurgical |  | Powder River Basin |  | Other U.S. Thermal |  | Corporate and Other (1) |  | Consolidated
| (Dollars in millions)
Thermal coal |  |  |  |  |  |  |  |  |  |  |
Domestic | $ | 136.0 |  |  | $ | — |  |  | $ | 1,153.0 |  |  | $ | 707.5 |  |  | $ | — |  |  | $ | 1,996.5 |
Export | 771.8 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 771.8 |
Total thermal | 907.8 |  |  | — |  |  | 1,153.0 |  |  | 707.5 |  |  | — |  |  | 2,768.3 |
Metallurgical coal |  |  |  |  |  |  |  |  |  |  |
Export | — |  |  | 1,034.8 |  |  | — |  |  | — |  |  | — |  |  | 1,034.8 |
Total metallurgical | — |  |  | 1,034.8 |  |  | — |  |  | — |  |  | — |  |  | 1,034.8 |
Other | 0.7 |  |  | 1.8 |  |  | — |  |  | (0.2) |  |  | 56.1 |  |  | 58.4 |
Revenue | $ | 908.5 |  |  | $ | 1,036.6 |  |  | $ | 1,153.0 |  |  | $ | 707.3 |  |  | $ | 56.1 |  |  | $ | 3,861.5 |
| Year Ended December 31, 2024
| Seaborne Thermal |  | Seaborne Metallurgical |  | Powder River Basin |  | Other U.S. Thermal |  | Corporate and Other (1) |  | Consolidated
| (Dollars in millions)
Thermal coal |  |  |  |  |  |  |  |  |  |  |
Domestic | $ | 150.8 |  |  | $ | — |  |  | $ | 1,096.4 |  |  | $ | 785.0 |  |  | $ | — |  |  | $ | 2,032.2 |
Export | 1,060.6 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,060.6 |
Total thermal | 1,211.4 |  |  | — |  |  | 1,096.4 |  |  | 785.0 |  |  | — |  |  | 3,092.8 |
Metallurgical coal |  |  |  |  |  |  |  |  |  |  |
Export | — |  |  | 1,049.5 |  |  | — |  |  | — |  |  | — |  |  | 1,049.5 |
Total metallurgical | — |  |  | 1,049.5 |  |  | — |  |  | — |  |  | — |  |  | 1,049.5 |
Other | 2.5 |  |  | 6.1 |  |  | 2.4 |  |  | 37.6 |  |  | 45.8 |  |  | 94.4 |
Revenue | $ | 1,213.9 |  |  | $ | 1,055.6 |  |  | $ | 1,098.8 |  |  | $ | 822.6 |  |  | $ | 45.8 |  |  | $ | 4,236.7 |
| Year Ended December 31, 2023
| Seaborne Thermal |  | Seaborne Metallurgical |  | Powder River Basin |  | Other U.S. Thermal |  | Corporate and Other (1) |  | Consolidated
| (Dollars in millions)
Thermal coal |  |  |  |  |  |  |  |  |  |  |
Domestic | $ | 136.4 |  |  | $ | — |  |  | $ | 1,193.9 |  |  | $ | 867.7 |  |  | $ | — |  |  | $ | 2,198.0 |
Export | 1,192.5 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,192.5 |
Total thermal | 1,328.9 |  |  | — |  |  | 1,193.9 |  |  | 867.7 |  |  | — |  |  | 3,390.5 |
Metallurgical coal |  |  |  |  |  |  |  |  |  |  |
Export | — |  |  | 1,299.6 |  |  | — |  |  | — |  |  | — |  |  | 1,299.6 |
Total metallurgical | — |  |  | 1,299.6 |  |  | — |  |  | — |  |  | — |  |  | 1,299.6 |
Other | 0.8 |  |  | 2.3 |  |  | 4.2 |  |  | 20.5 |  |  | 228.8 |  |  | 256.6 |
Revenue | $ | 1,329.7 |  |  | $ | 1,301.9 |  |  | $ | 1,198.1 |  |  | $ | 888.2 |  |  | $ | 228.8 |  |  | $ | 4,946.7 |
(1) Corporate and Other includes the following:
| Year Ended December 31,
| 2025 |  | 2024 |  | 2023
| (Dollars in millions)
Unrealized gains on derivative contracts related to forecasted sales | $ | — |  |  | $ | — |  |  | $ | 159.0 |
Realized losses on derivative contracts related to forecasted sales | — |  |  | — |  |  | (80.9) |
Revenue from physical sale of coal (2) | 35.4 |  |  | 27.8 |  |  | 109.4 |
Other | 20.7 |  |  | 18.0 |  |  | 41.3 |
Total Corporate and Other | $ | 56.1 |  |  | $ | 45.8 |  |  | $ | 228.8 |
(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, including as part of settling certain derivative contracts. Primarily represents the difference between the price contracted with the customer and the price allocated to the reportable segment. Committed Revenue from Contracts with Customers The Company expects to recognize revenue subsequent to December 31, 2025 of approximately $5.0 billion related to contracts with customers in which volumes and prices per ton were fixed or reasonably estimable at December 31, 2025. Approximately 33% of such amount is expected to be recognized over the next twelve months and the remainder thereafter. Actual revenue related to such contracts may differ materially for various reasons, including price adjustment features for coal quality and cost escalations, volume optionality provisions and potential force majeure events. This estimate of future revenue does not include any revenue related to contracts with variable prices per ton that cannot be reasonably estimated, such as the majority of seaborne metallurgical and seaborne thermal coal contracts where pricing is negotiated or settled quarterly or annually. Accounts Receivable “Accounts receivable, net” at December 31, 2025 and 2024 consisted of the following:
| December 31,
| 2025 |  | 2024
| (Dollars in millions)
Trade receivables, net | $ | 267.0 |  |  | $ | 294.9 |
Miscellaneous receivables, net | 47.9 |  |  | 64.4 |
Accounts receivable, net | $ | 314.9 |  |  | $ | 359.3 |
None of the above receivables included allowances for credit losses at December 31, 2025 or 2024. No charges for credit losses were recognized during the years ended December 31, 2025, 2024 or 2023.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-7 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
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