CONCENTRATION OF CREDIT RISK AND MAJOR CUSTOMERS

12 Months Ended

Dec. 31, 2022

CONCENTRATION OF CREDIT RISK AND MAJOR CUSTOMERS

CONCENTRATION OF CREDIT RISK AND MAJOR CUSTOMERS

24.CONCENTRATION OF CREDIT RISK AND MAJOR CUSTOMERS

The international coal market has been a part of our business with indirect sales to end-users in Europe, Africa, Asia, North America and South America.  Our sales into the international coal market are considered exports and are made through brokered transactions.  During the years ended December 31, 2022, 2021 and 2020, export tons represented approximately 12.5%, 12.5% and 3.3% of tons sold, respectively.  

Because title to our export shipments typically transfers to our brokerage customers at a point that does not necessarily reflect the end-usage point, we attribute export tons to the country with the end-usage point, if known. No individual country was attributed greater than 10% of total domestic and export tons sold during the years ended December 31, 2022, 2021 and 2020.  

We have significant long-term coal supply agreements, some of which contain prospective price adjustment provisions designed to reflect changes in market conditions, labor and other production costs and, in the infrequent circumstance when the coal is sold other than free on board the mine, changes in transportation rates. A major customer is defined as a customer from which we derive at least ten percent of our total revenues, including transportation revenues.  Total revenues from major customers are as follows:

		Year Ended December 31,
	Segment	2022		2021		2020
		(in thousands)
Customer A	Illinois Basin	$	328,406	$	239,482	$	197,379
Customer B	Illinois Basin		260,146		—		157,271
Customer C	Illinois Basin/Appalachia		228,480		—		—
Customer D	Illinois Basin/Appalachia		—		—		137,785

Trade accounts receivable from major customers totaled approximately $63.6 million and $10.8 million at December 31, 2022 and 2021, respectively.  Our credit loss experience has historically been insignificant.  Financial conditions of our customers could result in a material change to our credit loss expense in future periods.  The coal supply agreements with Customers A, B and C expire in 2026, 2029 and 2024 respectively.