XML 50 R37.htm IDEA: XBRL DOCUMENT

SEGMENT INFORMATION (Tables)

9 Months Ended

Sep. 30, 2021


	Coal Operations				Royalties				Other,
	Illinois								Corporate and
	Basin		Appalachia		Oil & Gas		Coal		Elimination		Consolidated

	(in thousands)
Three Months Ended September 30, 2021

Revenues - Outside	$	231,093	$	154,944	$	21,191	$	—	$	8,211	$	415,439
Revenues - Intercompany		—		—		—		13,456		(13,456)		—
Total revenues (1)		231,093		154,944		21,191		13,456		(5,245)		415,439

Segment Adjusted EBITDA Expense (2)		149,666		92,312		2,639		4,258		(9,525)		239,350
Segment Adjusted EBITDA (3)		69,305		52,726		19,080		9,198		4,280		154,589
Capital expenditures		19,081		12,531		—		30		1,393		33,035

Three Months Ended September 30, 2020

Revenues - Outside	$	210,319	$	132,310	$	9,721	$	42	$	3,259	$	355,651
Revenues - Intercompany		—		—		—		11,406		(11,406)		—
Total revenues (1)		210,319		132,310		9,721		11,448		(8,147)		355,651

Segment Adjusted EBITDA Expense (2)		131,014		86,701		849		5,161		(6,975)		216,750
Segment Adjusted EBITDA (3)		75,583		43,105		8,898		6,287		(1,172)		132,701
Capital expenditures		3,815		14,541		—		—		219		18,575

Nine Months Ended September 30, 2021

Revenues - Outside	$	640,260	$	384,286	$	52,798	$	—	$	19,160	$	1,096,504
Revenues - Intercompany		—		—		—		36,410		(36,410)		—
Total revenues (1)		640,260		384,286		52,798		36,410		(17,250)		1,096,504

Segment Adjusted EBITDA Expense (2)		415,423		240,494		7,116		13,157		(24,619)		651,571
Segment Adjusted EBITDA (3)		197,601		125,873		46,405		23,253		7,370		400,502
Total assets		703,060		422,504		601,695		289,100		132,616		2,148,975
Capital expenditures		47,997		34,579		—		30		6,055		88,661

Nine Months Ended September 30, 2020

Revenues - Outside	$	551,978	$	367,523	$	31,831	$	47	$	10,237	$	961,616
Revenues - Intercompany		—		—		—		29,555		(29,555)		—
Total revenues (1)		551,978		367,523		31,831		29,602		(19,318)		961,616

Segment Adjusted EBITDA Expense (2)		399,664		240,846		2,851		12,649		(17,021)		638,989
Segment Adjusted EBITDA (3)		141,583		120,686		29,534		16,953		(2,298)		306,458
Total assets		799,936		461,751		616,491		291,854		61,308		2,231,340
Capital expenditures		44,073		57,798		—		—		949		102,820

(1)	Revenues included in the Other, Corporate and Elimination column are attributable to intercompany eliminations, which are primarily the coal royalties intercompany eliminations, outside revenues at the Matrix Group and other outside miscellaneous sales and revenue activities.

(2)	Segment Adjusted EBITDA Expense includes operating expenses, coal purchases and other income. Transportation expenses are excluded as transportation revenues are recognized in an amount equal to transportation expenses when title passes to the customer.

Reconciliation of consolidated Segment Adjusted EBITDA Expense to operating expenses (excluding depreciation, depletion and amortization)


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2021		2020		2021		2020

	(in thousands)
Segment Adjusted EBITDA Expense	$	239,350	$	216,750	$	651,571	$	638,989
Outside coal purchases		(6,065)		—		(6,179)		—
Other expense		(84)		(723)		(2,632)		(1,456)
Operating expenses (excluding depreciation, depletion and amortization)	$	233,201	$	216,027	$	642,760	$	637,533

(3)

Segment Adjusted EBITDA is defined as net income (loss) attributable to ARLP before net interest expense, income taxes, depreciation, depletion and amortization, general and administrative expenses and asset and goodwill impairments. Management therefore is able to focus solely on the evaluation of segment operating profitability as it relates to our revenues and operating expenses, which are primarily controlled by our segments. Consolidated Segment Adjusted EBITDA is reconciled to net income as follows:

Reconciliation of consolidated Segment Adjusted EBITDA to net income


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2021		2020		2021		2020

	(in thousands)
Consolidated Segment Adjusted EBITDA	$	154,589	$	132,701	$	400,502	$	306,458
General and administrative		(18,655)		(13,871)		(51,651)		(41,131)
Depreciation, depletion and amortization		(68,763)		(80,182)		(192,698)		(237,662)
Asset impairments		—		—		—		(24,977)
Goodwill impairment		—		—		—		(132,026)
Interest expense, net		(9,389)		(11,156)		(29,595)		(34,799)
Income tax expense		(234)		(293)		(227)		(111)
Net income (loss) attributable to ARLP	$	57,548	$	27,199	$	126,331	$	(164,248)
Noncontrolling interest		176		36		384		97
Net income (loss)	$	57,724	$	27,235	$	126,715	$	(164,151)