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SEGMENT INFORMATION (Tables)
3 Months Ended
Mar. 31, 2020
SEGMENT INFORMATION  
Schedule of reportable segment results

    

Illinois

    

    

    

Other and

    

Elimination

    

 

    

Basin

    

Appalachia

    

Minerals

    

Corporate

    

(1)

    

Consolidated

 

(in thousands)

 

Three Months Ended March 31, 2020

Revenues - Outside

$

203,872

$

128,103

$

14,263

$

4,525

$

$

350,763

Revenues - Intercompany

2,859

(2,859)

Total revenues (2)

203,872

128,103

14,263

7,384

(2,859)

350,763

Segment Adjusted EBITDA Expense (3)

 

149,987

79,710

883

4,642

(524)

 

234,698

Segment Adjusted EBITDA (4)

 

50,029

47,510

13,755

2,742

(2,335)

 

111,701

Total assets

 

1,189,486

514,988

637,774

496,743

(442,570)

 

2,396,421

Capital expenditures

 

26,229

23,571

564

 

50,364

Three Months Ended March 31, 2019

 

Revenues - Outside

$

345,399

$

159,404

$

10,728

$

11,071

$

$

526,602

Revenues - Intercompany

3,997

3,091

(7,088)

Total revenues (2)

349,396

159,404

10,728

14,162

(7,088)

526,602

Segment Adjusted EBITDA Expense (3)

 

197,422

 

99,749

 

1,827

 

8,706

 

(4,847)

 

302,857

Segment Adjusted EBITDA (4)

 

122,737

 

58,655

 

9,132

 

18,361

 

(2,241)

 

206,644

Total assets

 

1,434,235

 

468,904

 

510,076

 

450,547

 

(378,632)

 

2,485,130

Capital expenditures (5)

 

48,454

 

33,346

 

 

2,243

 

 

84,043

(1)The elimination column represents the elimination of intercompany transactions and is primarily comprised of sales from the Matrix Group to our mining operations, coal sales and purchases between operations within different segments, sales of receivables to AROP Funding, financing between segments and insurance premiums paid to Wildcat Insurance.

(2)Revenues included in the Other and Corporate column are primarily attributable to the Matrix Group revenues, administrative service revenues from affiliates, Wildcat Insurance revenues and brokerage coal sales.

(3)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.  
Reconciliation of consolidated Segment Adjusted EBITDA Expense to operating expenses (excluding depreciation, depletion and amortization)

    

Three Months Ended

March 31, 

2020

    

2019

 

(in thousands)

Segment Adjusted EBITDA Expense

$

234,698

$

302,857

Other expense

 

(356)

 

(129)

Operating expenses (excluding depreciation, depletion and amortization)

$

234,342

$

302,728

(4)Segment Adjusted EBITDA is defined as net income attributable to ARLP before net interest expense, income taxes, depreciation, depletion and amortization, general and administrative expenses, settlement gain, asset and goodwill impairments and acquisition gain.  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:
Reconciliation of consolidated Segment Adjusted EBITDA to net income

    

Three Months Ended

March 31, 

2020

    

2019

 

(in thousands)

Consolidated Segment Adjusted EBITDA

$

111,701

$

206,644

General and administrative

 

(13,438)

 

(17,812)

Depreciation, depletion and amortization

 

(73,921)

 

(71,139)

Asset impairments

 

(24,977)

 

Goodwill impairment

(132,026)

Interest expense, net

 

(12,227)

 

(11,331)

Acquisition gain

177,043

Income tax benefit

 

105

 

106

Acquisition gain attributable to noncontrolling interest

(7,083)

Net (loss) income attributable to ARLP

$

(144,783)

$

276,428

Noncontrolling interest

76

7,176

Net (loss) income

$

(144,707)

$

283,604

(5)Capital Expenditures shown exclude the AllDale Acquisition which occurred in the first quarter of 2019.