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SEGMENT INFORMATION (Tables)

12 Months Ended

Dec. 31, 2023

SEGMENT INFORMATION

Schedule of reportable segment results


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

		(in thousands)
Year Ended December 31, 2023

Revenues - Outside (1)		$	1,481,556		$	883,334		$	141,525		$	42		$	60,244		$	2,566,701
Revenues - Intercompany			—			—			—			65,572			(65,572)			—
Total revenues (1)			1,481,556			883,334			141,525			65,614			(5,328)			2,566,701

Segment Adjusted EBITDA Expense (2)			861,288			516,471			16,532			24,451			(14,024)			1,404,718
Segment Adjusted EBITDA (3)			514,118			330,723			121,508			41,163			4,661			1,012,173
Total assets			966,102			488,427			781,184			315,592			237,121			2,788,426
Capital expenditures (4)			257,885			116,217			—			400			4,836			379,338

Year Ended December 31, 2022

Revenues - Outside (1)		$	1,296,305		$	928,087		$	154,897		$	56		$	40,622		$	2,419,967
Revenues - Intercompany			—			—			—			60,624			(60,624)			—
Total revenues (1)			1,296,305			928,087			154,897			60,680			(20,002)			2,419,967

Segment Adjusted EBITDA Expense (2)			806,080			464,029			15,395			21,871			(23,497)			1,283,878
Segment Adjusted EBITDA (3)			420,684			426,402			143,179			38,809			3,495			1,032,569
Total assets			779,018			431,913			778,465			321,587			417,038			2,728,021
Capital expenditures (4)			158,624			76,603			—			38,276			12,891			286,394

Year Ended December 31, 2021

Revenues - Outside (1)		$	919,597		$	545,539		$	86,439		$	69		$	27,586		$	1,579,230
Revenues - Intercompany			—			—			—			51,402			(51,402)			—
Total revenues (1)			919,597			545,539			86,439			51,471			(23,816)			1,579,230

Segment Adjusted EBITDA Expense (2)			613,303			344,332			11,051			18,269			(33,198)			953,757
Segment Adjusted EBITDA (3)			265,292			172,601			76,920			33,202			9,383			557,398
Total assets			676,091			420,144			698,702			285,943			146,601			2,227,481
Capital expenditures (4)			60,166			47,577			—			45			15,196			122,984

(1)	Revenues included in the Other, Corporate and Elimination column are attributable to intercompany eliminations, which are primarily intercompany coal royalties 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.

The following is a reconciliation of Operating expenses (excluding depreciation, depletion and amortization), the most comparable GAAP financial measure, to consolidated Segment Adjusted EBITDA Expense:


		Year Ended December 31,
		2023			2022			2021

		(in thousands)
Operating expenses (excluding depreciation, depletion and amortization)		$	1,368,787		$	1,288,082		$	944,419
Outside coal purchases			36,149			151			6,372
Other expense (income)			(218)			(4,355)			2,966
Segment Adjusted EBITDA Expense		$	1,404,718		$	1,283,878		$	953,757

(3)

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 expense. 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. Net income, the most comparable GAAP financial measure, is reconciled to consolidated Segment Adjusted EBITDA:


		Year Ended December 31,
		2023			2022			2021

		(in thousands)
Net income		$	636,170		$	588,158		$	183,369
Noncontrolling interest			(6,052)			(1,958)			(598)
Net income attributable to ARLP		$	630,118		$	586,200		$	182,771
General and administrative			79,096			80,425			70,275
Depreciation, depletion and amortization			267,982			276,670			264,794
Interest expense, net			26,697			35,296			39,141
Income tax expense			8,280			53,978			417
Consolidated Segment Adjusted EBITDA		$	1,012,173		$	1,032,569		$	557,398

(4)	Capital expenditures shown exclude $110.9 million, $92.6 million and $31.0 million paid for oil & gas acquisitions in 2023, 2022 and 2021, respectively. See Note 3 – Acquisitions for more information.

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


		Year Ended December 31,
		2023			2022			2021

		(in thousands)
Operating expenses (excluding depreciation, depletion and amortization)		$	1,368,787		$	1,288,082		$	944,419
Outside coal purchases			36,149			151			6,372
Other expense (income)			(218)			(4,355)			2,966
Segment Adjusted EBITDA Expense		$	1,404,718		$	1,283,878		$	953,757

Reconciliation of consolidated Segment Adjusted EBITDA to net income


		Year Ended December 31,
		2023			2022			2021

		(in thousands)
Net income		$	636,170		$	588,158		$	183,369
Noncontrolling interest			(6,052)			(1,958)			(598)
Net income attributable to ARLP		$	630,118		$	586,200		$	182,771
General and administrative			79,096			80,425			70,275
Depreciation, depletion and amortization			267,982			276,670			264,794
Interest expense, net			26,697			35,296			39,141
Income tax expense			8,280			53,978			417
Consolidated Segment Adjusted EBITDA		$	1,012,173		$	1,032,569		$	557,398