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v3.23.1

SEGMENT INFORMATION (Tables) | 3 Months Ended
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Mar. 31, 2023
SEGMENT INFORMATION |
Schedule of reportable segment results | Reportable segment results are presented below.
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Coal Operations | ​ | Royalties | ​ | Other, | ​ | ​ | ​ |
​ | ​ | Illinois |  | ​ |  | ​ | ​ | ​ | ​ | Corporate and |  | ​ | ​ | ​
​ |  | Basin |  | Appalachia |  | Oil & Gas |  | Coal | ​ | Elimination |  | Consolidated |
​ | ​ | (in thousands) |
Three Months Ended March 31, 2023 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Revenues - Outside | ​ | $ | 360,406 | ​ | $ | 251,259 | ​ | $ | 35,537 | ​ | $ | — | ​ | $ | 15,720 | ​ | $ | 662,922 | ​
Revenues - Intercompany | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 15,513 | ​ | ​ | (15,513) | ​ | ​ | — | ​
Total revenues (2) | ​ | ​ | 360,406 | ​ | ​ | 251,259 | ​ | ​ | 35,537 | ​ | ​ | 15,513 | ​ | ​ | 207 | ​ | ​ | 662,922 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Segment Adjusted EBITDA Expense (3) | ​ |  | 207,069 | ​ | ​ | 125,799 | ​ | ​ | 4,424 | ​ | ​ | 5,388 | ​ | ​ | (3,384) | ​ |  | 339,296 | ​
Segment Adjusted EBITDA (4) | ​ |  | 132,008 | ​ | ​ | 116,550 | ​ | ​ | 30,045 | ​ | ​ | 10,125 | ​ | ​ | 3,219 | ​ |  | 291,947 | ​
Total assets | ​ |  | 840,792 | ​ | ​ | 459,834 | ​ | ​ | 768,728 | ​ | ​ | 326,064 | ​ | ​ | 392,331 | ​ |  | 2,787,749 | ​
Capital expenditures (5) | ​ |  | 61,982 | ​ | ​ | 32,505 | ​ | ​ | 2 | ​ | ​ | 400 | ​ | ​ | 585 | ​ |  | 95,474 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Three Months Ended March 31, 2022 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Revenues - Outside (1) | ​ | $ | 274,696 | ​ | $ | 145,299 | ​ | $ | 33,520 | ​ | $ | — | ​ | $ | 9,907 | ​ | $ | 463,422 | ​
Revenues - Intercompany | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 15,167 | ​ | ​ | (15,167) | ​ | ​ | — | ​
Total revenues (2) | ​ | ​ | 274,696 | ​ | ​ | 145,299 | ​ | ​ | 33,520 | ​ | ​ | 15,167 | ​ | ​ | (5,260) | ​ | ​ | 463,422 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Segment Adjusted EBITDA Expense (1) (3) | ​ |  | 177,589 | ​ | ​ | 83,715 | ​ | ​ | 3,277 | ​ | ​ | 4,819 | ​ | ​ | (7,944) | ​ |  | 261,456 | ​
Segment Adjusted EBITDA (1) (4) | ​ |  | 78,215 | ​ | ​ | 51,103 | ​ | ​ | 30,835 | ​ | ​ | 10,348 | ​ | ​ | 2,686 | ​ |  | 173,187 | ​
Total assets (1) | ​ |  | 704,627 | ​ | ​ | 425,929 | ​ | ​ | 718,710 | ​ | ​ | 291,153 | ​ | ​ | 153,044 | ​ |  | 2,293,463 | ​
Capital expenditures (5) | ​ |  | 36,547 | ​ | ​ | 18,345 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 4,261 | ​ |  | 59,153 | ​
(1) | Recast for the JC Resources Acquisition as discussed in Note 1 – Organization and Presentation.
(2) | Revenues included in the Other, Corporate and Elimination column are attributable to intercompany eliminations, which are primarily intercompany coal royalty eliminations, outside revenues at the Matrix Group and other outside miscellaneous sales and revenue activities.
​
(3) | Segment Adjusted EBITDA Expense includes operating expenses, coal purchases, if applicable, 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.
​ ​ The following is a reconciliation of consolidated Segment Adjusted EBITDA Expense to Operating expenses (excluding depreciation, depletion and amortization): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Three Months Ended | ​
​ | ​ | March 31, | ​
​ | ​ | 2023 |  | 2022 |
​ | ​ | (in thousands) | ​
Operating expenses (excluding depreciation, depletion and amortization) | ​ | $ | 338,723 | ​ | $ | 262,023 | ​
Other expense (income) | ​ |  | 573 | ​ |  | (567) | ​
Segment Adjusted EBITDA Expense | ​ | $ | 339,296 | ​ | $ | 261,456 | ​
​
(4) | Segment Adjusted EBITDA is defined as net income attributable to ARLP before net interest expense, income taxes, depreciation, depletion and amortization, and general and administrative expenses. 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:
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Three Months Ended | ​
​ | ​ | March 31, | ​
​ | ​ | 2023 |  | 2022 |
​ | ​ | (in thousands) | ​
Net income | ​ | $ | 192,678 | ​ | $ | 38,373 | ​
Noncontrolling interest | ​ | ​ | (1,493) | ​ | ​ | (290) | ​
Net income attributable to ARLP | ​ | $ | 191,185 | ​ | $ | 38,083 | ​
General and administrative | ​ |  | 21,085 | ​ |  | 18,622 | ​
Depreciation, depletion and amortization | ​ |  | 65,550 | ​ |  | 64,140 | ​
Interest expense, net | ​ |  | 9,886 | ​ |  | 9,627 | ​
Income tax expense | ​ |  | 4,241 | ​ |  | 42,715 | ​
Consolidated Segment Adjusted EBITDA | ​ | $ | 291,947 | ​ | $ | 173,187 | ​ ​
​
(5) | Capital Expenditure shown excludes the $72.3 million paid for the JC Resources Acquisition and $2.8 million paid towards the Acquisition Agreement entered into on January 27, 2023 (See Note 2 – Acquisitions).
Reconciliation of consolidated Segment Adjusted EBITDA Expense to operating expenses (excluding depreciation, depletion and amortization) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Three Months Ended | ​
​ | ​ | March 31, | ​
​ | ​ | 2023 |  | 2022 |
​ | ​ | (in thousands) | ​
Operating expenses (excluding depreciation, depletion and amortization) | ​ | $ | 338,723 | ​ | $ | 262,023 | ​
Other expense (income) | ​ |  | 573 | ​ |  | (567) | ​
Segment Adjusted EBITDA Expense | ​ | $ | 339,296 | ​ | $ | 261,456 | ​
​
Reconciliation of consolidated Segment Adjusted EBITDA to net income | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Three Months Ended | ​
​ | ​ | March 31, | ​
​ | ​ | 2023 |  | 2022 |
​ | ​ | (in thousands) | ​
Net income | ​ | $ | 192,678 | ​ | $ | 38,373 | ​
Noncontrolling interest | ​ | ​ | (1,493) | ​ | ​ | (290) | ​
Net income attributable to ARLP | ​ | $ | 191,185 | ​ | $ | 38,083 | ​
General and administrative | ​ |  | 21,085 | ​ |  | 18,622 | ​
Depreciation, depletion and amortization | ​ |  | 65,550 | ​ |  | 64,140 | ​
Interest expense, net | ​ |  | 9,886 | ​ |  | 9,627 | ​
Income tax expense | ​ |  | 4,241 | ​ |  | 42,715 | ​
Consolidated Segment Adjusted EBITDA | ​ | $ | 291,947 | ​ | $ | 173,187 | ​ ​
​

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599 + Details
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