Segment Information | Segment Information The Company extracts, processes and markets met and thermal coal from deep and surface mines for sale to steel and coke producers, industrial customers, and electric utilities. The Company conducts mining operations only in the United States with mines in Central Appalachia (“CAPP”). The Company has one reportable segment: Met, which consists of five active mines and two preparation plants in Virginia, fourteen active mines and five preparation plants in West Virginia, as well as expenses associated with certain idled/closed mines. Prior to the first quarter of 2021, the Company had two reportable segments: CAPP - Met and CAPP - Thermal. As a result of the Company’s continued strategic focus on the production of metallurgical coal and the reduction of thermal mining operations, the Company re-evaluated its previous conclusions with respect to its segment reporting during the first quarter of 2021. To conform to the current period reportable segments presentation, the prior periods have been restated to reflect the change in reportable segments. In addition to the one reportable segment, the All Other category includes general corporate overhead and corporate assets and liabilities, the former CAPP - Thermal operations consisting of one active mine and one preparation plant in West Virginia, and the elimination of certain intercompany activity, as well as expenses associated with certain idled/closed mines. Reportable segment operating results are regularly reviewed by the Chief Operating Decision Maker (“CODM”), who is the Chief Executive Officer of the Company. Segment operating results and capital expenditures for the three months ended June 30, 2021 and 2020 were as follows: Three Months Ended June 30, 2021 Met All Other Consolidated Total revenues $ 377,937 $ 17,338 $ 395,275 Depreciation, depletion, and amortization $ 25,686 $ 1,618 $ 27,304 Amortization of acquired intangibles, net $ 2,635 $ (82) $ 2,553 Adjusted EBITDA $ 46,786 $ (6,869) $ 39,917 Capital expenditures $ 17,203 $ 441 $ 17,644 Three Months Ended June 30, 2020 Met All Other Consolidated Total revenues $ 316,534 $ 37,406 $ 353,940 Depreciation, depletion, and amortization $ 38,779 $ 8,290 $ 47,069 Amortization of acquired intangibles, net $ 2,759 $ (878) $ 1,881 Adjusted EBITDA $ 17,518 $ (10,373) $ 7,145 Capital expenditures $ 27,647 $ 3,011 $ 30,658 Segment operating results and capital expenditures for the six months ended June 30, 2021 and 2020 were as follows: Six Months Ended June 30, 2021 Met All Other Consolidated Total revenues $ 737,815 $ 43,713 $ 781,528 Depreciation, depletion, and amortization $ 52,222 $ 3,520 $ 55,742 Amortization of acquired intangibles, net $ 6,686 $ (264) $ 6,422 Adjusted EBITDA $ 79,368 $ (10,567) $ 68,801 Capital expenditures $ 37,526 $ 513 $ 38,039 Six Months Ended June 30, 2020 Met All Other Consolidated Total revenues $ 679,293 $ 77,451 $ 756,744 Depreciation, depletion, and amortization $ 80,501 $ 14,184 $ 94,685 Amortization of acquired intangibles, net $ 5,340 $ (2,948) $ 2,392 Adjusted EBITDA $ 86,636 $ (22,994) $ 63,642 Capital expenditures $ 60,781 $ 6,140 $ 66,921 The following tables present a reconciliation of net loss to Adjusted EBITDA for the three months ended June 30, 2021 and 2020: Three Months Ended June 30, 2021 Met All Other Consolidated Net loss from continuing operations $ 15,042 $ (33,632) $ (18,590) Interest expense 40 17,922 17,962 Interest income — (104) (104) Income tax expense — 8 8 Depreciation, depletion and amortization 25,686 1,618 27,304 Non-cash stock compensation expense 6 973 979 Mark-to-market adjustment - acquisition-related obligations — 3,157 3,157 Accretion on asset retirement obligations 3,377 3,271 6,648 Amortization of acquired intangibles, net 2,635 (82) 2,553 Adjusted EBITDA $ 46,786 $ (6,869) $ 39,917 Three Months Ended June 30, 2020 Met All Other Consolidated Net loss from continuing operations $ (27,097) $ (54,649) $ (81,746) Interest expense (377) 19,693 19,316 Interest income (3) (5,527) (5,530) Income tax expense — 33 33 Depreciation, depletion and amortization 38,779 8,290 47,069 Non-cash stock compensation expense (94) 1,138 1,044 Mark-to-market adjustment - acquisition-related obligations — (2,052) (2,052) Accretion on asset retirement obligations 3,551 3,018 6,569 Asset impairment and restructuring (1) — 20,498 20,498 Loss on partial settlement of benefit obligations — 63 63 Amortization of acquired intangibles, net 2,759 (878) 1,881 Adjusted EBITDA $ 17,518 $ (10,373) $ 7,145 (1) Refer to Note 8 for additional information on asset impairment and restructuring during the period. The following tables present a reconciliation of net loss to Adjusted EBITDA for the six months ended June 30, 2021 and 2020: Six Months Ended June 30, 2021 Met All Other Consolidated Net loss from continuing operations $ 13,604 $ (64,885) $ (51,281) Interest expense 83 35,869 35,952 Interest income (5) (263) (268) Income tax expense — 3 3 Depreciation, depletion and amortization 52,222 3,520 55,742 Non-cash stock compensation expense 16 3,147 3,163 Mark-to-market adjustment - acquisition-related obligations — 6,333 6,333 Accretion on asset retirement obligations 6,762 6,534 13,296 Asset impairment and restructuring (1) — (561) (561) Amortization of acquired intangibles, net 6,686 (264) 6,422 Adjusted EBITDA $ 79,368 $ (10,567) $ 68,801 (1) Refer to Note 8 for additional information on asset impairment and restructuring during the period. Six Months Ended June 30, 2020 Met All Other Consolidated Net loss from continuing operations $ (38,682) $ (79,250) $ (117,932) Interest expense (1,306) 38,798 37,492 Interest income (61) (6,437) (6,498) Income tax benefit — (2,155) (2,155) Depreciation, depletion and amortization 80,501 14,184 94,685 Non-cash stock compensation expense 305 2,817 3,122 Mark-to-market adjustment - acquisition-related obligations — (17,049) (17,049) Accretion on asset retirement obligations 7,087 6,121 13,208 Asset impairment and restructuring (1) 32,951 21,256 54,207 Management restructuring costs (2) 501 439 940 Loss on partial settlement of benefit obligations — 1,230 1,230 Amortization of acquired intangibles, net 5,340 (2,948) 2,392 Adjusted EBITDA $ 86,636 $ (22,994) $ 63,642 (1) Refer to Note 8 for additional information on asset impairment and restructuring during the period. (2) Management restructuring costs are related to severance expense associated with senior management changes in the three months ended March 31, 2020. No asset information has been disclosed as the CODM does not regularly review asset information by reportable segment. The Company markets produced, processed and purchased coal to customers in the United States and in international markets, primarily India, Brazil, and Turkey. Revenue is tracked within the Company’s accounting records based on the product destination. Export coal revenues were the following: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Total coal revenues $ 393,458 $ 353,115 $ 778,910 $ 754,575 Export coal revenues $ 256,017 $ 240,662 $ 499,800 $ 492,116 Export coal revenues as % of total coal revenues 65 % 68 % 64 % 65 % Countries with export coal revenue exceeding 10% of total revenue India India, Turkey, Brazil India, Brazil India, Brazil |