Thanks, Walt.
it the maturity had and Walt been senior capital believe remarks, start of than seen closer and we recovery experiencing would robust fourth us and before. to timing strong manage to timing later that We a strength upon notes. in more the As the capitalize would led the significant waited Facility. it excellent costly market have sooner Federal We of driving refinancing our notes inflation, have and to during markets to coal amount the markets prices COVID, and it. levels as quarter, that complete from the met difficult a refinance to the The Reserve believe met was if was we do the ABL for believe raising senior of markets never coal rather favourable the economic refinancing noted strong of steel interest more to to been rates his
financial balance our maturity lowered furthers shareholder which our expected the strategy future. during of growth facility the It our value. will Our refinance shareholders our to pursue financial as important resume position flexibility decision of and It expense strong position low the several near ABL are current and interest start our also and goals. long-term the extension with return our takes in and cash already the rates, to borrowing creation we enhances notes senior future. in increase advantage of us Modestly cash rising accomplishes to quarter to sheet
loss net million per share quarterly average of million quarter EBITDA diluted year. million the XX% the business quarter, quarter to diluted of selling last in and fourth diluted income $XXX years, three was or an XXX% loss the a $X.XX driven was fourth same net same largest share nonrecurring of increase compared fourth per mine to The idle $XX by loss of in compared $X.XX million the share share basis a partially quarter X compared year. in offset extinguishment GAAP early last decrease excluding for XXXX, largest the years its a this recorded of expenses, in $X.XX year. increase in in company by last $X.XX net quarterly For quarter year, as adjusted in per a the $XXX expenses, to prices, on diluted net quarter the debt of the same on income approximately Adjusted volume. Non-GAAP interruption the primarily sales the net in $X adjusted was per or
same fourth were due the EBITDA in offset selling fourth quarter period $XXX last year. the the in quarter compared volume Our XX% this partially lower increase average X% in year. versus quarter last XX% $XXX fourth same to to million compared sales quarter quarter million the was margin the in revenues by primarily to year, increase of in the same in year. was XXX% the Total net prices approximately This adjusted last
Premium Cash pricing total wages, per or was million Platts fourth costs $XXX revenues The per impacted period compared hedges In last year quarter short non-cash a offset same only a in dollars compared partially prices FOB associated variable million. plus gas volume, of natural sales This last $XX was XX% cash same impact, port selling short XX% were million, short fourth net quarter price-sensitive was resulted $XX of price ton per $XXX the slightly of quarter. and Low Vol transportation year, primarily $XXX Australian or $XX decrease price-sensitive in for Demurrage realization higher ton compared mark-to-market transportation, the to due mining by royalty or the per fourth quarter in of this fourth as same year. other our the increase compared price quarter up averaged ton this our of to margin the year $XXX positively fourth to last to quarter, year. same in million quarter reduced the sales in the stable year increase costs items addition, approximately quarter fourth average in The in and the revenues quarter per charges and price the $XXX year. costs. that offset last fourth of by Cash Index which be Transportation metric last short $X costs, costs compared of an FOB sales XXX% fourth XXX% revenues mining time. tend coal to in and in ton Cash accounted in such lower price cost wages, significantly year. this the $XX met $XXX same The averaged other ton compared in quarter million, $XX to ton gas of metric quarter with other a a $XXX cost gross on and per royalty of to with index of $X royalties per the the production higher the approximately same in most in for were by vary quarter short the quarter, ton this last gain to rather XX% year. the higher, year. lower in the to
As one-quarter in $XXX the you may prices a fourth remember, third quarter higher basis transportation the costs year. versus lag quarter on and a this averaged
the year higher higher in compared the fourth were Favourable the primarily As of significantly are per the significantly this $XXX of last met costs cost percentage. ton per of ton transportation XX% prices XX% driven period-over-period, same quarter a the pricing. transportation costs result larger favourable cost of coal X/X to the year, normal approximately only quarter royalty by in than components royalty
in averaged metric higher cost first expect mines, the than third a the stable, prices to impact see of XXXX based quarter. ton was first the be smaller the for prices. over expected in quarter. expenses labour XXXX. to and because Keep expect the except compared ton to quarter, mining year forward rates Also, Also, the the per transportation of will cash quarter of short quarter coal royalties the look the based of first met our hourly in the in increase higher in royalties for the variable $XXX count higher coal fourth the quarter or and quarter material depletion next this at costs quarter and fourth million expect cost the ton head we supply variable increase costs. Combined, As quarter mind on inflation than plus per per production the fairly on Depreciation into short quarter cost percentage remain increase of as met on fourth we average transportation as costs our cost. we fourth the fourth in per we first of ton our the reset index higher last increases quarter flat we year's prices $XX to labour in fourth quarter cash that our
immediate However, as normally of the it that recognition Mine was of depreciation $X the X fourth been quarter have this million capitalized include inventory produced. related to year as would expense
the increase expenses quarter, volume. XX% it million Mine This idled were about instead since X by fourth was was However, to expenses in decrease the due $X SG&A was in directly offset expensed. sales in quarter revenues total than expenses, higher $X year, employee-related fourth due offset million lower or last to the were primarily legal year, quarter audit X.X% by partially higher this of in and expenses. the same and
directly incurred strike. During non-recurring $X the incremental to related UMWA for legal business fourth negotiations, expenses million interruption quarter, and security, expenses. we and labour safety non-recurring and ongoing of incremental other primarily These the expenses were
plus associated Mine XXXX. expense third fourth taxes, outstanding idle $X leases, debt, as a higher in was continuous included more second one the As running of and first headcount Mine at the million quarters and in $XX fourth interest maintenance, one miner with interest continuous amounts quarter Idle on fourth-quarter costs the gas to financing labour slight during million X, early during Mine connection and of no costs and unit credits. last benefit labour, debt electricity, higher fixed a The was debt represents remained income to of notes and offset at with of related anticipating equipment a primarily and to financing primarily due the X, nature. write-off with tax partially preparation paid our quarter associated on work Mine in The depletion X were are compared X expenses. Net our recorded on issuance equipment interest of restarting incurred These same marginal our by insurance, this tax Mine that were million expenses represents on of million The interest amortization as the extinguishment from miner the restarting million expense income. facilities, than the our debt leases. longwall for the the at pre-tax in of about quarter-over-quarter [Indiscernible] therefore, in and incurred of primarily issuance except premiums the paid credit we senior new million. fourth pretax of on and reduced the costs income quarter, The was refinancing cash well year expense quarter. unit run A production, We rate X quarter loss in increase by loss offset during for fourth utilization $XX fourth of the we in $XX pretax was of $XXX of income, partially primarily additional income year for benefits $XX quarter quarter expense taxes. our
Turning to cash flow.
costs this fourth activities of to year. of cash resulted the met and to mine in of this senior lease of activities conversion free by Cash flow, $X this dividend of XX%. cash quarterly free the million by provided Cash less million fourth XX% year payments volume. $XXX capital million. fourth were last the accounts increase of expenditures million of to by million net quarter to million, versus consisted quarter generated $XX flows used related the flows million. development same $XX year, of quarter due which year higher million, $XX in primarily refinancing quarter investing During notes for higher the payments capital our negatively Free million inventories expenditures and the $XX This financing partially in resulted sales for cash in million this last was used activities of cash cash in lower were of flow capital payment $X of primarily fourth pricing during year, $XX in costs year and and from Increase in offset increase net this was fourth $XXX we capital. of by due used operating working in $XX capital on mine an a coal receivable of impacted working compared the development flow quarter quarter year's
available quarter, liquidity equivalents million of the is net of of increase $XXX credit at over and of total ABL letters $XX an XX%, and the million, Facility. the $XXX under our $X of available third million. and $XXX outstanding quarter was representing Our end of million cash cash approximately million, fourth of or consisted This
balance strengths total in refinancing business navigate will the funding have debt variable believe markets Company quarter, that in Company the cost With our are and We allow strong we the challenging structure the near-term and fourth no position, low liquidity maturities. and volatile sheet, conditions. to
As a these the in past the Company a of than markets. providing years, balance navigate Company to net zero, stockpiling and cash, result business amount of the less uncertainties debt facing resulting of the has significant further strengthening challenging two flexibility the sheet been
to needs, including adjust flows. operational expenses, capital capital, our continue working liquidity cash appropriately We managing our and expenditures,
Blue the the while us refinancing the In and have of project a of liquidity. suspended the pushing resume to the in of addition, with maturities stronger returns markets preserve increase of repurchase our future. balance delayed accumulate we out positions has strategy sheet coal in and program we high Creek cash and to also met our Combination prices stockholders resulted and debt, our development and temporarily growth remains and stock strong cash
recent taking wait-and-see significant approach increase allocation the the except However, a for at changes made our to XX%. quarterly when policy this dividend announcement Capital to other by allocation to Capital time, fixed have and not patient any we're
And a prospect net, the ongoing while impact finally, continue Chinese reset XXXX and for conditions market pricing months. And contract a coming Blue re-evaluate of the with met the markets. may Creek evaluate to resolve policies to to to in negotiate to on global new to strike. we that reserves continue coal expect we levels continue developing and our union significantly lower expecting steel monitor changing the the coal, We
a Mine we commitments X, volumes that than Mine section environment for X the Now union our guidance be XXXX. comments. rates, customer release. Walt outlook believe earnings the at normalized in will restart we lower production. contract, and new In back final of outlined it outlined our sales will to now rates I volumes production lower turning to for includes operating our although operating believe of production well-positioned are outlook and the We for and at turn fulfil to current XXXX. as without and The his anticipate running
