XML 172 R25.htm IDEA: XBRL DOCUMENT v3.22.4
Business Segments
 12 Months Ended
Dec. 31, 2022
Segment Reporting [Abstract]  
Business Segments Business Segments
The Company’s operating segments are: (i) Coal Mining, (ii) NAMining and (iii) Minerals Management. The Company determines its reportable segments by first identifying its operating segments, and then by assessing whether any components of these segments constitute a business for which discrete financial information is available and where segment management regularly reviews the operating results of that component. The Company’s Chief Operating Decision Maker utilizes operating profit to evaluate segment performance and allocate resources.

The Company has items not directly attributable to a reportable segment which are not included as part of the measurement of segment operating profit, which are primarily administrative costs related to public company reporting requirements at the parent company and the financial results of Mitigation Resources and Bellaire. Mitigation Resources generates and sells stream and wetland mitigation credits (known as mitigation banking) and provides services to those engaged in permittee-responsible
stream and wetland mitigation. Bellaire manages the Company’s long-term liabilities related to former Eastern U.S. underground mining activities.

Effective January 1, 2022, the Company changed the composition of its reportable segments. As a result, the Company retrospectively changed its computation of segment operating profit to reclassify the results of Caddo Creek Resources Company, LLC (“Caddo Creek”) and Demery Resources Company, LLC ("Demery") from the Coal Mining segment into the NAMining segment as these operations provide mining solutions for producers of industrial minerals, rather than for power generation. The Coal Mining segment now includes only mines that deliver coal to power generation companies. This segment reporting change has no impact on consolidated operating results. All prior period segment information has been reclassified to conform to the new presentation.

All financial statement line items below operating profit (other income including interest expense and interest income, the provision for income taxes and net income) are presented and discussed within this Form 10-K on a consolidated basis.

See Note 1 for additional discussion of the Company's reportable segments. All current operations reside in the U.S. The accounting policies of the reportable segments are described in Note 2 and Note 18.

In 2022 and 2021, two customers individually accounted for more than 10% of consolidated revenue. The following represents the revenue attributable to each of these entities as a percentage of consolidated revenue for those years:
Percentage of Consolidated Revenue
Segment20222021
Coal Mining customer39 %43 %
NAMining customer17 %19 %
The following tables present revenue, operating profit, depreciation expense and capital expenditures for the years ended December 31:
 20222021
Revenues
Coal Mining$95,204 $82,831 
NAMining85,664 78,944 
Minerals Management60,242 31,003 
Unallocated Items2,952 4,695 
Eliminations(2,343)(5,627)
Total$241,719 $191,846 
Operating profit (loss)
Coal Mining$38,309  $45,784 
NAMining2,202  3,384 
Minerals Management52,214  26,080 
Unallocated Items(23,233)(19,553)
Eliminations494 (285)
Total$69,986  $55,410 
Expenditures for property, plant and equipment and acquisition of mineral interests
Coal Mining$14,853 $16,830 
NAMining13,203 21,100 
Minerals Management13,388 6,423 
Unallocated Items13,003 208 
Total$54,447 $44,561 
Depreciation, depletion and amortization
Coal Mining$17,074 $16,510 
NAMining6,457 4,574 
Minerals Management3,026 1,858 
Unallocated Items259 143 
Total$26,816 $23,085 

Asset information by segment is not discretely maintained for internal reporting or used in evaluating performance.