0001558370-19-008073.txt : 20190813 0001558370-19-008073.hdr.sgml : 20190813 20190813164142 ACCESSION NUMBER: 0001558370-19-008073 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 51 CONFORMED PERIOD OF REPORT: 20190630 FILED AS OF DATE: 20190813 DATE AS OF CHANGE: 20190813 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Ramaco Resources, Inc. CENTRAL INDEX KEY: 0001687187 STANDARD INDUSTRIAL CLASSIFICATION: BITUMINOUS COAL & LIGNITE MINING [1220] IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-38003 FILM NUMBER: 191021251 BUSINESS ADDRESS: STREET 1: 250 WEST MAIN STREET STREET 2: SUITE 210 CITY: LEXINGTON STATE: KY ZIP: 40507 BUSINESS PHONE: (859) 244-7455 MAIL ADDRESS: STREET 1: 250 WEST MAIN STREET STREET 2: SUITE 210 CITY: LEXINGTON STATE: KY ZIP: 40507 10-Q 1 metc-20190630x10q.htm 10-Q metc_Current_Folio_10Q

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 10-Q

 

(Mark One)

 

 

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the quarterly period ended June 30, 2019

or

 

 

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the transition period from                 to

Commission File Number: 001‑38003

RAMACO RESOURCES, INC.

(Exact name of registrant as specified in its charter)

 

 

Delaware

38‑4018838

(State or other jurisdiction

(I.R.S. Employer

of incorporation or organization)

Identification No.)

 

 

250 West Main Street, Suite 1800

 

Lexington, Kentucky

40507

(Address of principal executive offices)

(Zip code)

 

 

(859) 244‑7455

(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

 

 

 

 

 

 

 

Title of each class

    

Trading Symbol(s)

    

Name of each exchange on which registered

Common Stock, $0.01 par value

 

METC

 

NASDAQ Global Select Market

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.  Yes  ☒    No  ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes  ☒    No  ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b‑2 of the Exchange Act.

Large accelerated filer

Accelerated filer

Non-accelerated filer

Smaller reporting company

Emerging growth company

 

 

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☒

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b‑2 of the Exchange Act). Yes  ☐    No  ☒

As of August 3, 2019, the registrant had 40,942,581 shares of common stock outstanding.

 

 

 

2

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This Quarterly Report on Form 10‑Q (the “Quarterly Report”) includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements, other than statements of historical fact included in this report, regarding our strategy, future operations, financial position, estimated revenues, projected costs, prospects, plans and objectives of management are forward-looking statements. When used in this Quarterly Report, the words “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. When considering forward-looking statements, you should keep in mind the risk factors and other cautionary statements described under, but not limited to, the heading “Item 1A. Risk Factors” included in this report and elsewhere in the Annual Report of Ramaco Resources, Inc. (the “Company”) on Form 10‑K for the year ended December 31, 2018 (the “Annual Report”) and other filings with the Securities and Exchange Commission (“SEC”).

Forward-looking statements may include statements about:

·

anticipated production levels, costs, sales volumes and revenues;

·

timing for completion of major capital projects;

·

economic conditions in the steel industry generally;

·

economic conditions in the metallurgical coal industry generally;

·

expected costs to develop planned and future mining operations, including the costs to construct necessary processing and transport facilities;

·

estimated quantities or quality of our metallurgical coal reserves;

·

our expectations relating to dividend payments and our ability to make such payments;

·

our ability to obtain additional financing on favorable terms, if required, to complete the acquisition of additional metallurgical coal reserves as currently contemplated or to fund the operations and growth of our business;

·

maintenance, operating or other expenses or changes in the timing thereof;

·

financial condition and liquidity of our customers;

·

competition in coal markets;

·

the price of metallurgical coal and/or thermal coal;

·

compliance with stringent domestic and foreign laws and regulations, including environmental, climate change and health and safety regulations, and permitting requirements, as well as changes in the regulatory environment, the adoption of new or revised laws, regulations and permitting requirements;

·

potential legal proceedings and regulatory inquiries against us;

·

the impact of weather and natural disasters on demand, production and transportation;

·

purchases by major customers and our ability to renew sales contracts;

·

credit and performance risks associated with customers, suppliers, contract miners, co-shippers and trading, banks and other financial counterparties;

·

geologic, equipment, permitting, site access and operational risks and new technologies related to mining;

·

transportation availability, performance and costs;

·

availability, timing of delivery and costs of key supplies, capital equipment or commodities such as diesel fuel, steel, explosives and tires;

·

timely review and approval of permits, permit renewals, extensions and amendments by regulatory authorities; and

·

other risks identified in this Quarterly Report that are not historical.

 

We caution you that these forward-looking statements are subject to a number of risks, uncertainties and assumptions, which are difficult to predict and many of which are beyond our control, incident to the development, production, gathering and sale of coal. Moreover, we operate in a very competitive and rapidly changing environment and new risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the

3

impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. Although we believe that our plans, intentions and expectations reflected in or suggested by the forward-looking statements we make in this Quarterly Report are reasonable, we can give no assurance that these plans, intentions or expectations will be achieved or occur, and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results.

All forward-looking statements, expressed or implied, included in this report are expressly qualified in their entirety by this cautionary statement and speak only as of the date of this Quarterly Report. This cautionary statement should also be considered in connection with any subsequent written or oral forward-looking statements that we or persons acting on our behalf may issue.

Except as otherwise required by applicable law, we disclaim any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this report.

4

PART I - FINANCIAL INFORMATION

Item 1.         Financial Statements

Ramaco Resources, Inc.

Unaudited Condensed Consolidated Balance Sheets

 

 

 

 

 

 

 

 

 

In thousands, except share and per share amounts

    

June 30, 2019

    

December 31, 2018

    

Assets

 

 

  

 

 

  

 

Current assets:

 

 

  

 

 

  

 

Cash and cash equivalents

 

$

5,541

 

$

6,951

 

Accounts receivable

 

 

26,099

 

 

10,729

 

Inventories

 

 

16,593

 

 

14,185

 

Prepaid expenses

 

 

1,604

 

 

3,154

 

Total current assets

 

 

49,837

 

 

35,019

 

 

 

 

 

 

 

 

 

Property, plant and equipment – net

 

 

164,193

 

 

149,205

 

Advanced coal royalties

 

 

3,113

 

 

3,045

 

Other

 

 

994

 

 

975

 

Total Assets

 

$

218,137

 

$

188,244

 

 

 

 

 

 

 

 

 

Liabilities and Stockholders' Equity

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

Current liabilities

 

 

 

 

 

 

 

Accounts payable

 

$

16,325

 

$

16,393

 

Accrued expenses

 

 

9,390

 

 

8,094

 

Asset retirement obligations

 

 

513

 

 

71

 

Current portion of long-term debt

 

 

5,000

 

 

5,000

 

Other

 

 

 —

 

 

287

 

Total current liabilities

 

 

31,228

 

 

29,845

 

 

 

 

 

 

 

 

 

Asset retirement obligations

 

 

12,656

 

 

12,707

 

Long-term debt, net

 

 

10,002

 

 

4,474

 

Deferred tax liability

 

 

3,537

 

 

109

 

Other long-term liabilities

 

 

155

 

 

 —

 

Total liabilities

 

 

57,578

 

 

47,135

 

 

 

 

 

 

 

 

 

Commitments and contingencies

 

 

 —

 

 

 —

 

 

 

 

 

 

 

 

 

Stockholders' Equity

 

 

 

 

 

 

 

Preferred stock, $0.01 par value, 50,000,000 shares authorized, none issued and outstanding

 

 

 —

 

 

 —

 

Common stock, $0.01 par value, 260,000,000 shares authorized, 40,942,581 and  40,082,467 shares issued and outstanding, respectively

 

 

409

 

 

401

 

Additional paid-in capital

 

 

152,872

 

 

150,926

 

Retained earnings (deficit)

 

 

7,278

 

 

(10,218)

 

Total equity

 

 

160,559

 

 

141,109

 

Total Liabilities and Stockholders' Equity

 

$

218,137

 

$

188,244

 

 

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

5

Ramaco Resources, Inc.

Unaudited Condensed Consolidated Statements of Operations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended June 30, 

 

Six months ended June 30, 

In thousands, except per share amounts

    

2019

    

2018

    

2019

    

2018

Revenue

 

$

65,761

 

$

65,278

 

$

123,221

 

$

121,221

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost and expenses

 

 

 

 

 

 

 

 

 

 

 

 

Cost of coal sales (exclusive of items shown separately below)

 

 

43,219

 

 

47,860

 

 

84,225

 

 

92,191

Asset retirement obligation accretion

 

 

128

 

 

124

 

 

256

 

 

247

Depreciation and amortization

 

 

4,822

 

 

2,955

 

 

8,938

 

 

5,393

Selling, general and administrative

 

 

4,703

 

 

3,692

 

 

8,664

 

 

7,123

Total cost and expenses

 

 

52,872

 

 

54,631

 

 

102,083

 

 

104,954

Operating income

 

 

12,889

 

 

10,647

 

 

21,138

 

 

16,267

Other income

 

 

194

 

 

513

 

 

492

 

 

1,002

Interest expense, net

 

 

(302)

 

 

(314)

 

 

(609)

 

 

(414)

Income before tax

 

 

12,781

 

 

10,846

 

 

21,021

 

 

16,855

Income tax expense

 

 

2,168

 

 

642

 

 

3,525

 

 

1,385

Net income

 

$

10,613

 

$

10,204

 

$

17,496

 

$

15,470

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per common share

 

 

 

 

 

 

 

 

 

 

 

 

Basic earnings per share

 

$

0.26

 

$

0.25

 

$

0.43

 

$

0.39

Diluted earnings per share

 

$

0.26

 

$

0.25

 

$

0.43

 

$

0.38

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic weighted average shares outstanding

 

 

40,869

 

 

40,082

 

 

40,737

 

 

39,994

Diluted weighted average shares outstanding

 

 

40,965

 

 

40,340

 

 

40,810

 

 

40,242

 

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

6

Ramaco Resources, Inc.

Unaudited Condensed Consolidated Statements of Stockholders’ Equity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Additional

 

 

 

 

 

 

 

 

Common

 

Paid-

 

 

Retained

 

Total 

In thousands

    

Stock

    

in Capital

    

Earnings (Deficit)

    

Equity

Balance at January 1, 2019

 

$

401

 

$

150,926

 

$

(10,218)

 

$

141,109

Equity-based compensation

 

 

 8

 

 

1,946

 

 

 —

 

 

1,954

Net income

 

 

 —

 

 

 —

 

 

17,496

 

 

17,496

Balance at June 30, 2019

 

$

409

 

$

152,872

 

$

7,278

 

$

160,559

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at January 1, 2018

 

 

396

 

 

148,293

 

 

(35,292)

 

 

113,397

Equity-based compensation

 

 

 5

 

 

1,240

 

 

 —

 

 

1,245

Net income

 

 

 —

 

 

 —

 

 

15,470

 

 

15,470

Balance at June 30, 2018

 

$

401

 

$

149,533

 

$

(19,822)

 

$

130,112

 

 

7

Ramaco Resources, Inc.

Unaudited Condensed Consolidated Statements of Cash Flows

 

 

 

 

 

 

 

 

 

 

 

Six months ended June 30, 

 

In thousands

    

2019

    

2018

 

Cash flows from operating activities

 

 

  

 

 

  

 

Net income

 

$

17,496

 

$

15,470

 

Adjustments to reconcile net income (loss) to net cash from operating activities:

 

 

 

 

 

 

 

Accretion of asset retirement obligations

 

 

256

 

 

247

 

Depreciation and amortization

 

 

8,938

 

 

5,393

 

Amortization of debt issuance costs

 

 

28

 

 

187

 

Equity-based compensation

 

 

1,954

 

 

1,245

 

Deferred income taxes

 

 

3,429

 

 

1,385

 

Changes in operating assets and liabilities:

 

 

 

 

 

 

 

Accounts receivable

 

 

(15,370)

 

 

(21,100)

 

Prepaid expenses

 

 

1,550

 

 

(977)

 

Inventories

 

 

(2,408)

 

 

(1,237)

 

Advanced coal royalties

 

 

(68)

 

 

82

 

Other assets

 

 

135

 

 

(206)

 

Accounts payable

 

 

(4,121)

 

 

1,340

 

Accrued expenses

 

 

1,295

 

 

6,282

 

Net cash from operating activities

 

 

13,114

 

 

8,111

 

 

 

 

 

 

 

 

 

Cash flow from investing activities:

 

 

 

 

 

 

 

Purchases of property, plant and equipment

 

 

(19,737)

 

 

(27,478)

 

Proceeds from maturities of investment securities

 

 

 —

 

 

5,200

 

Net cash from investing activities

 

 

(19,737)

 

 

(22,278)

 

 

 

 

 

 

 

 

 

Cash flows from financing activities

 

 

 

 

 

 

 

Proceeds from borrowings

 

 

44,300

 

 

13,000

 

Proceeds from notes payable - related party

 

 

 —

 

 

3,000

 

Payments of debt issuance cost

 

 

 —

 

 

(429)

 

Repayment of borrowings

 

 

(38,800)

 

 

(1,000)

 

Repayments of financed insurance payable

 

 

(287)

 

 

(427)

 

Net cash from financing activities

 

 

5,213

 

 

14,144

 

 

 

 

 

 

 

 

 

Net change in cash and cash equivalents

 

 

(1,410)

 

 

(23)

 

Cash and cash equivalents, beginning of period

 

 

6,951

 

 

5,934

 

Cash and cash equivalents, end of period

 

$

5,541

 

$

5,911

 

 

 

 

 

 

 

 

 

Supplemental cash flow information:

 

 

 

 

 

 

 

Cash paid for interest

 

$

568

 

$

340

 

Cash paid for taxes

 

 

 —

 

 

 —

 

Non-cash investing and financing activities:

 

 

 

 

 

 

 

Capital expenditures included in accounts payable and accrued liabilities

 

 

5,373

 

 

2,128

 

Financed insurance

 

 

 —

 

 

789

 

Additional asset retirement obligations acquired or incurred

 

 

137

 

 

127

 

 

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

8

Ramaco Resources, Inc.

Notes to Unaudited Condensed Consolidated Financial Statements

NOTE 1—DESCRIPTION OF BUSINESS

Ramaco Resources, Inc. is a Delaware corporation formed in October 2016. Our principal corporate offices are located in Lexington, Kentucky. Through our wholly-owned subsidiary, Ramaco Development, LLC, we are an operator and developer of high-quality, low-cost metallurgical coal in southern West Virginia, southwestern Virginia, and southwestern Pennsylvania.

Pursuant to the terms of a corporate reorganization (“Reorganization”) that was completed in connection with the closing of our initial public offering (“IPO”) on February 8, 2017, all the interests in Ramaco Development, LLC were exchanged for our newly issued common shares and as a result, Ramaco Development, LLC became our wholly-owned subsidiary. The terms “the Company,” “we,” “us,” “our,” and similar terms when used in the present tense, prospectively or for periods since our Reorganization, refer to Ramaco Resources, Inc. and its subsidiaries, and for historical periods prior to our Reorganization refer to Ramaco Development LLC and its subsidiaries. Intercompany balances and transactions between consolidated entities are eliminated.

 

NOTE 2—SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation—These interim financial statements are unaudited and have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. Certain disclosures have been condensed or omitted from these financial statements. Accordingly, they do not include all the information and notes required by accounting principles generally accepted in the United States of America (“GAAP”) for complete consolidated financial statements, and should be read in conjunction with the audited consolidated financial statements and notes thereto included in our Annual Report on Form 10‑K for the year ended December 31, 2018.

In the opinion of management, the accompanying unaudited condensed consolidated financial statements include all adjustments, consisting of normal recurring adjustments, necessary to fairly present the financial position as of, and the results of operations for, all periods presented. In preparing the accompanying financial statements, management has made certain estimates and assumptions that affect reported amounts in the condensed consolidated financial statements and disclosures of contingencies. Actual results may differ from those estimates. The results for interim periods are not necessarily indicative of annual results. Certain reclassifications have been made to the prior period’s consolidated financial statements and related footnotes to conform them to the current period presentation.

Revenue Recognition—Our primary source of revenue is from the sale of coal through contracts with steel and coke producers usually having durations of one year or less. In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014‑09, Revenue from Contracts with Customers. This new standard supersedes nearly all existing revenue recognition guidance under GAAP. The core principle of ASU 2014‑09 is to recognize revenues in a way that depicts the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. We adopted ASU 2014‑09, Revenue from Contracts with Customers, on January 1, 2018 using the modified retrospective method. Before adoption of the new standard, revenue was recognized when risk of loss passed to our customer. The timing of revenue recognition for our coal sales remained consistent between the new and previous standards. There was no material impact on our consolidated financial statements from adopting the new standard but we have expanded disclosure about our revenues.

For periods subsequent to January 1, 2018, revenue is recognized when performance obligations under the terms of a contract with our customers are satisfied. This occurs when control of the coal is transferred to our customers. For coal shipments to domestic customers via rail or truck, control is generally transferred when the railcar or truck is loaded. Control is transferred for export coal shipments to customers via ocean vessel when the vessel is loaded at the port.

Our coal sales generally include up to 90‑day payment terms following the transfer of control of the goods to our customer. In the case of some of our foreign customers, our contracts also require that letters of credit are posted to

9

secure payment of any outstanding receivable to the Company. We do not include extended payment terms in our contracts. Our contracts with customers typically provide for minimum specifications or qualities of the coal we deliver. Variances from these specifications or qualities are settled by means of price adjustments. Generally, these price adjustments are settled within 30 days of delivery and are insignificant.

Earnings per ShareBasic earnings per share is calculated using our weighted-average outstanding common shares. Diluted earnings per share is calculated using our weighted-average outstanding common shares including the dilutive effect of stock option awards as determined under the treasury stock method.

Financial Instruments—Our financial assets and liabilities consist of cash, accounts receivable, accounts payable and notes payable. The fair values of these instruments approximate their carrying amounts at each reporting date.

We invested excess cash amounts before its planned expenditure for capital projects in highly-rated securities with the primary objective of achieving competitive low risk interest rate return, while minimizing the potential risk of principal loss. Fair values were determined for each individual security based on observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the securities. The difference between the carrying amount and fair value of these securities was not material.

Nonrecurring fair value measurements include asset retirement obligations, the estimated fair value of which is calculated as the present value of estimated cash flows related to its reclamation liabilities using Level 3 inputs. The significant inputs used to calculate such liabilities include estimates of costs to be incurred, the Company’s credit adjusted discount rate, inflation rates and estimated date of reclamation.

Concentrations—During the three and six months ended June 30, 2019, sales to four customers accounted for approximately 55% of total revenue in each period. The total balance due from these four customers at June 30, 2019 was approximately 69% of total accounts receivable. During the three and six months ended June 30, 2018 sales to three  customers accounted for approximately 79% and 75% of total revenue, respectively.

Recent Accounting Pronouncements—In February 2016, the FASB issued ASU 2016‑02, Leases, which aims to make leasing activities more transparent and comparable and requires substantially all leases be recognized by lessees on their balance sheet as a right-of-use asset and corresponding lease liability, including leases currently accounted for as operating leases. Leases of mineral reserves and related land leases have been exempted from the standard. We adopted ASU 2016‑02, Leases, on January 1, 2019. The Company elected the “package of practical expedients” within the standard which permits the Company not to reassess its prior conclusions about lease identification, lease classification and initial direct costs. The Company made an accounting policy election to not separate lease and non-lease components for all leases. The adoption of this standard resulted in the recognition of right-of-use assets and lease liabilities of $0.3 million, which were not previously recorded on the Company’s balance sheet.

 

NOTE 3—PROPERTY, PLANT AND EQUIPMENT

The Company’s property, plant and equipment consist of the following:

 

 

 

 

 

 

 

 

 

(In thousands)

    

June 30, 2019

    

December 31, 2018

 

Plant and equipment

 

$

130,218

 

$

109,911

 

Construction in process

 

 

10,252

 

 

12,066

 

Capitalized mine development cost

 

 

48,413

 

 

43,037

 

Less accumulated depreciation and amortization

 

 

(24,690)

 

 

(15,809)

 

Total property, plant and equipment, net

 

$

164,193

 

$

149,205

 

 

During the three months ended June 30, 2019, depreciation expense related to our plant and equipment totaled $3.4 million and amortization of our capitalized development costs totaled $1.4 million. During the three months ended June

10

30, 2018, depreciation expense related to our plant and equipment totaled $2.3 million and amortization of our capitalized development costs totaled $0.6 million.

During the six months ended June 30, 2019, depreciation expense related to our plant and equipment totaled $6.4 million and amortization of our capitalized development costs totaled $2.5 million. During the six months ended June 30, 2018, depreciation expense related to our plant and equipment totaled $4.4 million and amortization of our capitalized development costs totaled $1.0 million.

Capitalized amounts related to coal reserves at properties where we are not currently engaged in mining operations totaled $7.2 million as of June 30, 2019 and $5.5 million as of December 31, 2018.

 

NOTE 4—DEBT

Credit Facility

On November 2, 2018 the Company (together with its subsidiaries, and collectively the “Borrower”) entered into a Credit and Security Agreement (the “Credit Facility”) with KeyBank National Association (“KeyBank”). The Credit Facility consists of a $10.0 million term loan (the “Term Loan”) and up to $30.0 million revolving line of credit, including $1.0 million letter of credit availability (the “Revolving Credit Facility”). To secure the Credit Facility the Company pledged all personal property assets of Borrower, including, but not limited to accounts receivable, coal inventory, and certain surface mining equipment. Real property and improvements are excluded from the collateral package and are not encumbered in connection with the Credit Facility. The Company used the Credit Facility to repay existing notes payable and provide working capital. The Credit Facility has a maturity date of November 2, 2021.

The Revolving Credit Facility interest rate is based on LIBOR + 2.35% or Base Rate + 1.75%. The Term Loan credit interest rate is based on LIBOR + 4.75% or Base Rate + 3.75%. Base Rate is the highest of (i) KeyBank’s prime rate, (ii) Federal Funds Effective Rate + 0.5%, or (iii) LIBOR + 1.0%. Both loans are initially base rate loans, but may be converted to LIBOR rate loans at certain times at the Company’s discretion.

The outstanding principal balance of the Term Loan is required to be repaid in monthly installments of approximately $0.4 million until fully repaid. As of June 30, 2019, the outstanding principal balance of the Term Loan was $7.1 million and the carrying amount was $7.0 million. As of December 31, 2018, the outstanding principal balance of the Term Loan was $9.6 million and the carrying amount was $9.5 million. As of June 30, 2019,  $8.0 million was outstanding on the Revolving Credit Facility. There was no outstanding balance on the Revolving Credit Facility at December 31, 2018.

The Credit Facility contains usual and customary representations and warranties and usual and customary affirmative and negative covenants, including but not limited to, limitations on liens, additional indebtedness, investments, restricted payments, asset sales, mergers, affiliate transactions and other customary limitations, as well as financial covenants. As of June 30, 2019, the Company was in compliance with all covenants under the Credit Facility.

 

NOTE 5—EQUITY

As of June 30, 2019, we had 40,942,581 shares of common stock outstanding.

Stock-Based Compensation

We have a stock-based compensation plan under which stock options, restricted stock, performance shares and other stock-based awards may be granted. At June 30, 2019, 5.1 million shares were available under the current plan for future awards.

Total compensation costs recognized for all stock-based compensation was $1.1 million and $0.7 million for the three months ended June 30, 2019 and 2018, respectively.

11

Total compensation costs recognized for all stock-based compensation was $2.0 million and $1.2 million for the six months ended June 30, 2019 and 2018, respectively.

Share Options – A total of 937,424 options for the purchase of shares of the Company’s common stock were granted to two executives on August 31, 2016 at a purchase price of $5.34 per share. Stock-based compensation expense totaling $2.1 million was recognized during 2017 for the accelerated vesting of these options in our IPO. The options have a ten-year term from the grant date. The options remain outstanding and unexercised and were not in-the-money at June 30, 2019.

Restricted Shares—We grant restricted stock to certain senior executives, key employees and directors. The shares vest over one to three years from the date of grant. During the vesting period, the participants have voting rights and may receive dividends, but the shares may not be sold, assigned, transferred, pledged or otherwise encumbered. Additionally, granted but unvested shares are forfeited upon termination of employment, unless an employee enters into another written arrangement with the Company. The fair value of the restricted shares on the date of the grant is amortized ratably over the service period. Compensation expense related to these awards totaled $1.1 million and $2.0 million for the three and six months ended June 30, 2019, respectively. As of June 30, 2019, there was $6.6 million of total unrecognized compensation cost related to unvested restricted stock to be recognized over a weighted-average period of 1.6 years.

The following table summarizes restricted awards outstanding as of June 30, 2019, as well as activity during the period:

 

 

 

 

 

 

 

 

    

 

    

Weighted

 

 

 

 

Average Grant

 

 

Shares

 

 

Date Fair Value

Outstanding at December 31, 2018

 

966,134

 

$

6.99

Granted

 

867,201

 

 

5.49

Vested

 

 —

 

 

 —

Forfeited

 

(7,087)

 

 

6.05

Outstanding at June 30, 2019

 

1,826,248

 

$

6.28

 

 

NOTE 6—COMMITMENTS AND CONTINGENCIES

Surety Bond

As of June 30, 2019,  our asset retirement obligations totaled $13.2 million and we had total corresponding reclamation bonding requirements of $12.8 million, which were supported by surety bonds.

Purchase Commitments

We secure the ability to transport coal through rail contracts and export terminals that are sometimes funded through take-or-pay arrangements. As of June 30, 2019,  commitments under take-or-pay arrangements totaled approximately $2.3 million through March 31, 2020.

Litigation

From time to time, the Company is subject to various litigation and other claims in the normal course of business. No amounts have been accrued in the consolidated financial statements with respect to any matters.

 

NOTE 7—REVENUES

Our revenues are derived from contracts for the sale of coal which is recognized at the point in time control is transferred to our customer. Generally, domestic sales contracts have terms of about one year and the pricing is typically

12

fixed. Export sales have spot or term contracts and pricing can either be by fixed-price or a price derived against index-based pricing mechanisms. Disaggregated information about our revenues is presented below:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended June 30, 

 

Six months ended June 30, 

 

(In thousands)

    

2019

    

2018

 

2019

    

2018

 

Coal Sales

 

 

  

 

 

  

 

 

  

 

 

  

 

Domestic revenues

 

$

39,544

 

$

34,376

 

$

76,116

 

$

60,074

 

Export revenues

 

 

26,217

 

 

30,902

 

 

47,105

 

 

61,147

 

Total revenues

 

$

65,761

 

$

65,278

 

$

123,221

 

$

121,221

 

 

As of June 30, 2019, the Company has outstanding performance obligations for the remainder of 2019 of approximately 0.8 million tons for contracts having fixed pricing and 0.1 million tons for contracts to export customers with index-based pricing mechanisms. Additionally, the Company has outstanding performance obligations beyond 2019 of approximately 0.1 million tons for export contracts with index-based pricing mechanisms.

 

NOTE 8—INCOME TAXES

Income tax provisions for interim quarterly periods are based on an estimated annual effective income tax rate calculated separately from the effect of significant, infrequent or unusual items related specifically to interim periods. Income tax expense for the three months ended June 30, 2019 was $2.2 million, an effective tax rate of 17.0%, compared to $0.6 million, an effective tax rate of 5.9% for the three months ended June 30, 2018.     Income tax expense for the six months ended June 30, 2019 was $3.5 million, an effective tax rate of 16.8% compared to expense of $1.4 million, an effective tax rate of 8.2% for the six months ended June 30, 2018. The primary difference between the statutory rate of 21% and the actual rate is related to permanent differences for state income taxes, non-deductible expenses and the difference in depletion expense between U.S. GAAP and federal income tax purposes.

 

 

NOTE 9—EARNINGS PER SHARE

The following is the computation of basic and diluted EPS for the three and six months ended June 30, 2019 and 2018. EPS is reported under the treasury stock method.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

Three months ended June 30, 

 

Six months ended June 30, 

 

(In thousands, except per share amounts)

    

2019

    

2018

    

2019

    

2018

 

Numerator

 

 

  

 

 

  

 

 

  

 

 

  

 

Net income

 

$

10,613

 

$

10,204

 

$

17,496

 

$

15,470

 

Denominator

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares used to compute basic EPS

 

 

40,869

 

 

40,082

 

 

40,737

 

 

39,994

 

Dilutive effect of share-based awards

 

 

96

 

 

258

 

 

73

 

 

248

 

Weighted average shares used to compute diluted EPS

 

 

40,965

 

 

40,340

 

 

40,810

 

 

40,242

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per share

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.26

 

$

0.25

 

$

0.43

 

$

0.39

 

Diluted

 

$

0.26

 

$

0.25

 

$

0.43

 

$

0.38

 

 

 

NOTE 10—RELATED PARTY TRANSACTIONS

Mineral Lease and Surface Rights Agreements

Much of the coal reserves and surface rights that we control were acquired through a series of mineral leases and surface rights agreements with Ramaco Coal, LLC, a related party. Payments of minimum royalties and throughput payments commenced in 2017 pursuant to the terms of the agreements. Under these agreements, minimum royalties are paid in arrears each month to the extent that the earned production royalties for such month are less than the required

13

minimums. Amounts due to Ramaco Coal, LLC of $0.8 million and $2.9 million at June 30, 2019 and December 31, 2018, respectively, are included in Accounts Payable in the condensed consolidated balance sheet and represent production royalty payables.

On-going Administrative Services

Under a Mutual Services Agreement dated December 22, 2017 but effective as of March 31, 2018, the Company and Ramaco Coal, LLC agreed to share the services of certain party’s employees. Each party will pay the other a fee on a quarterly basis for such services calculated as the annual base salary of each employee providing services multiplied by the percentage of time each employee spent providing services for the other party. The services will be provided for 12‑month terms, but may be terminated by either party at the end of any 12‑month term by providing written notice at least 30 days prior to the end of the then-current term. During the six months ended June 30, 2019, the Company billed $4,000 to Ramaco Coal, LLC for use of services.   

 

* * * * *

14

Item 2.  Management’s Discussion and Analysis of Financial Condition and Results of Operations

The following discussion and analysis of our financial condition and results of operations should be read in conjunction with the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” contained in our Annual Report, as well as the financial statements and related notes appearing elsewhere in this Quarterly Report. The following discussion contains forward-looking statements that reflect our future plans, estimates, beliefs and expected performance. The forward-looking statements are dependent upon events, risks and uncertainties that may be outside our control. We caution you that our actual results could differ materially from those discussed in these forward-looking statements. Factors that could cause or contribute to such differences are discussed elsewhere in this Quarterly Report, particularly in the “Cautionary Note Regarding Forward-Looking Statements” and in our Annual Report under the heading “Item 1A. Risk Factors,” all of which are difficult to predict. In light of these risks, uncertainties and assumptions, the forward-looking events discussed may not occur. We do not undertake any obligation to publicly update any forward-looking statements except as otherwise required by applicable law.

Business Overview

Our primary source of revenue is the sale of metallurgical coal. As of December 31, 2018, we had a 248‑million-ton reserve base of high-quality metallurgical coal and four long-lived projects under development. We are currently mining in a total of four underground mines, one surface mine and a highwall miner at our two complexes. Our plan is to complete development of our remaining projects and grow production to more than 4.0 million clean tons of metallurgical coal over the next three to four years depending on the rate at which we are able to deploy capital. We may make acquisitions of reserves or infrastructure that continue our focus on advantaged geology and lower costs.

We sell substantially all of our metallurgical coal production to steel producers. Metallurgical coal, which is converted to coke, is a critical input in the steel production process. Metallurgical coal markets remained strong in the second quarter of 2019, as economic growth continued to support international coking coal prices. However, subsequent to the second quarter of 2019, certain China ports began to put restrictions on imported coal. Between these restrictions and the ongoing trade dispute between China and the U.S., metallurgical coal prices dropped meaningfully at the start of the third quarter of 2019. While we believe longer-term supply/demand dynamics generally remain tight, implications for metallurgical coal markets and the global economy as a whole remain uncertain.

Second Quarter 2019 Overview

·

In response to the structural failure of one of the three raw coal storage silos at our Elk Creek facility in November 2018, we completed the fabrication of a permanent bypass conveyance system in February 2019.  During June 2019, we completed remediation work in one of the two remaining silos.  The remediation efforts were completed in mid-July 2019 on the second remaining silo, and the Elk Creek plant returned to full processing capacity at the beginning of August 2019.

·

We generated revenue of $65.8 million in the second quarter of 2019, an increase of over 14% compared to the first quarter of 2019.  This increase was primarily due to increased sales volumes and prices in the second quarter.  Average sales price increased as we completed the remainder of our 2018 carryover shipments in the early part of the second quarter.

·

We produced over 476,000 clean tons of coal during the second quarter of 2019.

·

Net income and EBITDA for the second quarter of 2019 increased to $10.6 million and $19.1 million, respectively, a 4% and 28% increase, respectively, from the second quarter of 2018.

15

Results of Operations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended June 30, 

 

Six months ended June 30, 

(In thousands)

    

2019

    

2018

    

2019

    

2018

Consolidated statement of operations data

 

 

  

 

 

  

 

 

  

 

 

  

Revenue

 

$

65,761

 

$

65,278

 

$

123,221

 

$

121,221

Cost and expenses

 

 

 

 

 

 

 

 

 

 

 

 

Cost of coal sales (exclusive of items shown separately below)

 

 

43,219

 

 

47,860

 

 

84,225

 

 

92,191

Asset retirement obligation accretion

 

 

128

 

 

124

 

 

256

 

 

247

Depreciation and amortization

 

 

4,822

 

 

2,955

 

 

8,938

 

 

5,393

Selling, general and administrative

 

 

4,703

 

 

3,692

 

 

8,664

 

 

7,123

Total cost and expenses

 

 

52,872

 

 

54,631

 

 

102,083

 

 

104,954

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating income (loss)

 

 

12,889

 

 

10,647

 

 

21,138

 

 

16,267

 

 

 

 

 

 

 

 

 

 

 

 

 

Other income

 

 

194

 

 

513

 

 

492

 

 

1,002

Interest expense, net

 

 

(302)

 

 

(314)

 

 

(609)

 

 

(414)

Income (loss) before tax

 

$

12,781

 

$

10,846

 

$

21,021

 

$

16,855

 

 

 

 

 

 

 

 

 

 

 

 

 

Income tax expense

 

 

2,168

 

 

642

 

 

3,525

 

 

1,385

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

 

$

10,613

 

$

10,204

 

$

17,496

 

$

15,470

 

 

 

 

 

 

 

 

 

 

 

 

 

Adjusted EBITDA

 

$

19,093

 

$

14,933

 

$

32,778

 

$

24,154

 

Three Months Ended June 30, 2019 Compared to Three Months Ended June 30, 2018

Revenues.  Our revenues include sales to customers of Company produced coal and coal purchased from third parties. We include amounts billed by us for transportation to our customers within revenues and transportation costs incurred within cost of sales.  Coal sales information is summarized as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended June 30, 

(In thousands)

    

2019

    

2018

    

Increase (Decrease)

Company Produced

 

 

  

 

 

  

 

 

  

Coal sales revenue

 

$

62,516

 

$

52,051

 

$

10,465

Tons sold

 

 

499

 

 

493

 

 

 6

Purchased from Third Parties

 

 

  

 

 

  

 

 

  

Coal sales revenue

 

$

3,245

 

$

13,227

 

$

(9,982)

Tons sold

 

 

26

 

 

123

 

 

(97)

 

Coal sales in the second quarter of 2019 were approximately $0.5 million higher than in the second quarter of 2018 due to higher realized prices, offset partially by decreased sales of purchased coal.

Cost of sales. Our cost of sales totaled $43.2 million for the three months ended June 30, 2019 as compared with $47.9 million for the same period in 2018.  This decrease was primarily driven by lower purchased-coal sales volume, partially offset by increased costs per ton.

The total cash cost per ton sold (FOB mine) for the second quarter of 2019  was approximately $71 for our produced coal and approximately $122 for coal we purchased from third parties. The $71  cash costs per ton for produced coal in the second quarter of 2019  were up from approximately $56 in the second quarter of 2018. The increase was partially due to sales-related costs, such as royalties and severance taxes, due to higher sales prices in the 2019 period. Temporary adverse roof conditions at the Eagle mine during the 2019 period, as well as a slight increase in the percentage of

16

production from the Berwind Development Mine also contributed to increased overall cost per ton on Company produced coal.

Asset retirement obligation accretion. Asset retirement obligation accretion was $0.1 million in both of the three-month periods ended June 30, 2019 and 2018.

Depreciation and amortization. Our depreciation and amortization costs for the second quarter of 2019 were  $4.8 million as compared with $3.0 million for the second quarter of 2018. Increased depreciation and amortization costs result from our growth and expanded operations over the past year.

Selling, general and administrative. Selling, general and administrative expenses were $4.7 million for the thre months ended June 30, 2019 as compared with $3.7 million for the same period in 2018. This increase was primarily due to an increase of $0.4 million in stock-based compensation expense.  The majority of the Company’s stock-based compensation awards vest over a three-year period and expense is recognized over that vesting period. As a newly public company in 2017, we implemented a stock-based compensation program. Once our stock-based compensation program has been in place for three years, we will typically have three tranches of awards expensed annually.

Other income. Other income was $0.2 million for the second quarter of 2019, as compared with $0.5 million for the second quarter of 2018. This decrease was primarily due to a decrease in rail rebates received during the second quarter of 2019.

Interest expense, net. Interest expense, net was $0.3 million in both the three months ended June 30, 2019 and 2018.

Income tax expense. For the three months ended June 30, 2019, we recognized income tax expense of $2.2 million, or an effective income tax rate of 17.0%.  For the three months ended June 30, 2018 we recognized tax expense of $0.6 million, or an effective rate of 5.9%. Our estimated full year effective tax rate for 2019 is comprised of the expected statutory tax expense offset by tax benefits for percentage depletion. Cash taxes paid for 2019 are expected to be less than $0.4 million. Significant depletion and depreciation expense and utilization of net operating loss carryforwards combine to substantially reduce our expected cash taxes.

Six Months Ended June 30, 2019 Compared to Six Months Ended June 30, 2018

 

Revenues. Our revenues include sales to customers of Company produced coal and coal purchased from third parties. We include amounts billed by us for transportation to our customers within revenues and transportation costs incurred within cost of sales. Coal sales information is summarized as follows:

 

 

 

 

 

 

 

 

 

 

 

 

Six months ended June 30, 

(In thousands)

    

2019

    

2018

    

Increase (Decrease)

Company Produced

 

 

  

 

 

  

 

 

  

Coal sales revenue

 

$

115,216

 

$

95,009

 

$

20,207

Tons sold

 

 

942

 

 

896

 

 

46

Purchased from Third Parties

 

 

  

 

 

  

 

 

  

Coal sales revenue

 

$

8,005

 

$

26,212

 

$

(18,207)

Tons sold

 

 

61

 

 

241

 

 

(180)

 

Coal sales in the six months ended June 30, 2019 were approximately $2.0 million higher than in the six months ended June 30, 2018 due to higher realized prices, offset partially by decreased sales of purchased coal.

Cost of sales. Our cost of sales totaled $84.2 million for the six months ended June 30, 2019 as compared with $92.2 million for the same period in 2018.  This decrease was primarily driven by lower purchased-coal sales volume, partially offset by increased costs per ton.

17

The total cash cost per ton sold (FOB mine) for the first half of 2019 was approximately $69 for our produced coal and approximately $114 for coal we purchased from third parties. The $69 cash costs per ton for produced coal in the second quarter of 2019 were up from approximately $60 in the first half of 2018. The increase was partially due to sales-related costs, such as royalties and severance taxes, due to higher sales prices in the 2019 period. Temporary adverse roof conditions at the Eagle mine during the second quarter of 2019, as well as a slight increase in the percentage of production from the Berwind Development Mine also contributed to increased overall cost per ton on Company produced coal.

Asset retirement obligation accretion. Asset retirement obligation accretion was $0.3 million and $0.2 million for the six months ended June 30, 2019 and 2018, respectively.

Depreciation and amortization. Our depreciation and amortization costs for the six months ended June 30, 2019 were $8.9 million as compared with $5.4 million for the six months ended June 30, 2018. Increased depreciation and amortization costs resulted from our growth and expanded operations over the past year.

Selling, general and administrative. Selling, general and administrative expenses were $8.7 million for the six months ended June 30, 2019 as compared with $7.1 million for the same period in 2018. This increase was primarily due to an increase of $0.7 million in stock-based compensation expense.  The majority of the Company’s stock-based compensation awards vest over a three-year period and expense is recognized over that vesting period. As a newly public company in 2017, we implemented a stock-based compensation program. Once our stock-based compensation program has been in place for three years, we will typically have three tranches of awards expensed annually.

Other income. Other income was $0.5 million for the six months ended June 30, 2019, as compared with $1.0 million for the same period in 2018. This decrease was primarily due to a decrease in rail rebates received during the 2019 period.

Interest expense, net. Interest expense, net was $0.6 million for the six months ended June 30, 2019 as compared with $0.4 million in the prior year period. This increase was driven by a larger amount of outstanding debt during the current year period as compared to the prior year period.

Income tax expense. For the six months ended June 30, 2019, we recognized income tax expense of $3.5 million, or an effective income tax rate of 16.8%. Our estimated full year effective tax rate for 2019 is comprised of the expected statutory tax expense offset by tax benefits for percentage depletion. Cash taxes paid for 2019 are expected to be less than $0.4 million. Significant depletion and depreciation expense and utilization of net operating loss carryforwards combine to substantially reduce our expected cash taxes. For the six months ended June 30, 2018 we recognized tax expense of $1.4 million, or an effective rate of 8.2%.

 

Non-GAAP Financial Measures

Adjusted EBITDA

Adjusted EBITDA is used as a supplemental non-GAAP financial measure by management and external users of our financial statements, such as industry analysts, investors, lenders and rating agencies. We believe Adjusted EBITDA is useful because it allows us to more effectively evaluate our operating performance.

We define Adjusted EBITDA as net income (loss) plus net interest expense, stock-based compensation, depreciation and amortization expenses and any transaction related costs. A reconciliation of income (loss), net of income taxes, to Adjusted EBITDA is included below. Adjusted EBITDA is not intended to serve as an alternative to U.S. GAAP measures of performance and may not be comparable to similarly-titled measures presented by other companies.

18

The table below shows how we calculate Adjusted EBITDA:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended June 30, 

 

Six months ended June 30, 

 

(In thousands)

    

2019

    

2018

    

2019

    

2018

    

Reconciliation of Net Income to Adjusted EBITDA

 

 

  

 

 

  

 

 

  

 

 

  

 

Net income

 

$

10,613

 

$

10,204

 

$

17,496

 

$

15,470

 

Depreciation and amortization

 

 

4,822

 

 

2,955

 

 

8,938

 

 

5,393

 

Interest expense, net

 

 

302

 

 

314

 

 

609

 

 

414

 

Income taxes

 

 

2,168

 

 

642

 

 

3,525

 

 

1,385

 

EBITDA

 

 

17,905

 

 

14,115

 

 

30,568

 

 

22,662

 

Equity-based compensation

 

 

1,060

 

 

694

 

 

1,954

 

 

1,245

 

Accretion of asset retirement obligation

 

 

128

 

 

124

 

 

256

 

 

247

 

Adjusted EBITDA

 

$

19,093

 

$

14,933

 

$

32,778

 

$

24,154

 

 

Non-GAAP revenue per ton

Non-GAAP revenue per ton (FOB mine) is calculated as coal sales revenues less transportation costs, divided by tons sold. We believe revenue per ton (FOB mine) provides useful information to investors as it enables investors to compare revenue per ton generated by the Company against similar measures made by other publicly-traded coal companies and more effectively monitor changes in coal prices from period to period excluding the impact of transportation costs which are beyond our control. The adjustments made to arrive at these measures are significant in understanding and assessing the Company’s financial condition.  Revenue per ton sold (FOB mine) is not a measure of financial performance in accordance with U.S. GAAP and therefore should not be considered as an alternative to revenues under U.S. GAAP.  The table below shows how we calculate Non-GAAP revenue per ton:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended June 30, 2019

 

Three months ended June 30, 2018

 

 

Company

 

Purchased

 

 

 

 

Company

 

Purchased

 

 

 

(In thousands, except per ton amounts)

    

Produced

    

Coal

    

Total

    

Produced

    

Coal

    

Total

Revenues

 

$

62,516

 

$

3,245

 

$

65,761

 

$

52,051

 

$

13,227

 

$

65,278

Less:  Adjustments to reconcile to Non-GAAP revenues (FOB mine)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Transportation costs

 

 

4,695

 

 

42

 

 

4,737

 

 

7,118

 

 

808

 

 

7,926

Non-GAAP revenues (FOB mine)

 

$

57,821

 

$

3,203

 

$

61,024

 

$

44,933

 

$

12,419

 

$

57,352

Tons sold

 

 

499

 

 

26

 

 

525

 

 

493

 

 

123

 

 

616

Revenues per ton sold (FOB mine)

 

$

116

 

$

123

 

$

116

 

$

91

 

$

101

 

$

93

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Six months ended June 30, 2019

 

Six months ended June 30, 2018

 

    

Company

    

Purchased

    

 

 

    

Company

    

Purchased

    

 

 

(In thousands, except per ton amounts)

 

Produced

 

Coal

 

Total

 

Produced

 

Coal

 

Total

Revenues

 

$

115,216

 

$

8,005

 

$

123,221

 

$

95,009

 

$

26,212

 

$

121,221

Less:  Adjustments to reconcile to Non-GAAP revenues (FOB mine)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Transportation costs

 

 

11,646

 

 

373

 

 

12,019

 

 

13,224

 

 

1,955

 

 

15,179

Non-GAAP revenues (FOB mine)

 

$

103,570

 

$

7,632

 

$

111,202

 

$

81,785

 

$

24,257

 

$

106,042

Tons sold

 

 

942

 

 

61

 

 

1,003

 

 

896

 

 

241

 

 

1,137

Revenues per ton sold (FOB mine)

 

$

110

 

$

125

 

$

111

 

$

91

 

$

101

 

$

93

 

19

Non-GAAP cash cost per ton sold

Non-GAAP cash cost per ton sold is calculated as cash cost of coal sales less transportation costs, divided by tons sold. We believe cash cost per ton sold provides useful information to investors as it enables investors to compare the cash cost per ton by the Company against similar measures made by other publicly-traded coal companies and more effectively monitor changes in coal cost from period to period excluding the impact of transportation costs which are beyond our control. The adjustments made to arrive at these measures are significant in understanding and assessing the Company’s financial condition. Cash cost per ton sold is not a measure of financial performance in accordance with U.S. GAAP and therefore should not be considered as an alternative to cost of sales under U.S. GAAP. The table below shows how we calculate Non-GAAP cash cost per ton:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended June 30, 2019

 

Three months ended June 30, 2018

 

 

Company

 

Purchased

 

 

 

 

Company

 

Purchased

 

 

 

(In thousands, except per ton amounts)

    

Produced

    

Coal

    

Total

    

Produced

    

Coal

    

Total

Cost of sales

 

$

40,003

 

$

3,216

 

$

43,219

 

$

34,739

 

$

13,121

 

$

47,860

Less:  Adjustments to reconcile to Non-GAAP cash cost of coal sales

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Transportation costs

 

 

4,695

 

 

42

 

 

4,737

 

 

7,360

 

 

868

 

 

8,228

Non-GAAP cash cost of coal sales

 

$

35,308

 

$

3,174

 

$

38,482

 

$

27,379

 

$

12,253

 

$

39,632

Tons sold

 

 

499

 

 

26

 

 

525

 

 

493

 

 

123

 

 

616

Cash cost per ton sold

 

$

70.76

 

$

122

 

$

73

 

$

56

 

$

100

 

$

64

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Six months ended June 30, 2019

 

Six months ended June 30, 2018

 

    

Company

    

Purchased

    

 

 

    

Company

    

Purchased

    

 

 

 

 

Produced

 

Coal

 

Total

 

Produced

 

Coal

 

Total

(In thousands, except per ton amounts)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of sales

 

$

76,914

 

$

7,311

 

$

84,225

 

$

67,174

 

$

25,017

 

$

92,191

Less:  Adjustments to reconcile to Non-GAAP cash cost of coal sales

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Transportation costs

 

 

11,646

 

 

373

 

 

12,019

 

 

13,722

 

 

2,089

 

 

15,811

Non-GAAP cash cost of coal sales

 

$

65,268

 

$

6,938

 

$

72,206

 

$

53,452

 

$

22,928

 

$

76,380

Tons sold

 

 

942

 

 

61

 

 

1,003

 

 

896

 

 

241

 

 

1,137

Cash cost per ton sold

 

$

69

 

$

114

 

$

72

 

$

60

 

$

95

 

$

67

 

 

Liquidity and Capital Resources

Our primary source of cash is proceeds from the sale of our coal production to customers. Our primary uses of cash include the cash costs of coal production, capital expenditures, royalty payments and other operating expenditures.

Cash flow information is as follows:

 

 

 

 

 

 

 

 

 

 

 

Six months ended June 30, 

 

(In thousands)

    

2019

    

2018

    

Consolidated statement of cash flow data:

 

 

  

 

 

  

 

Cash flows from operating activities

 

$

13,114

 

$

8,111

 

Cash flows from investing activities

 

 

(19,737)

 

 

(22,278)

 

Cash flows from financing activities

 

 

5,213

 

 

14,144

 

Net change in cash and cash equivalents

 

$

(1,410)

 

$

(23)

 

 

Cash flows from operating activities during the six months ended June 30, 2019 decreased from the six months ended June 30, 2018 primarily due to changes in operating assets and liabilities.  Accounts payable decreased during the six months ended June 30, 2019 resulting in a use of cash, whereas accounts payable increased during the six months ended June 30, 2018.

20

Net cash used in investing activities was $19.7 million for the six months ended June 30, 2019 as compared with $22.3 million for the same period of 2018. Our capital expenditures totaled $19.7 million and $27.5 million in the 2019 and 2018 periods, respectively. We received proceeds of $5.2 million from maturing investment securities during the 2018 period.  We did not have any maturing investments during the 2019 period.

Cash flows from financing activities were  $5.2 million for the six months ended June 30, 2019, which was primarily due to net borrowings of $5.5 million, partially offset by repayments on insurance financing of $0.3 million. Cash flows from financing activities were $14.1 million for the six months ended June 30, 2018, which was due to net proceeds from short term borrowings of $14.6 million, partially offset by repayments on insurance financing of $0.4 million.

Indebtedness

On November 2, 2018 the Company (together with its subsidiaries, and collectively the “Borrower”) entered into a Credit and Security Agreement (the “Credit Facility”) with KeyBank National Association (“KeyBank”).  The Credit Facility consists of a $10.0 million term loan (the “Term Loan”) and up to $30.0 million revolving line of credit, including $1.0 million letter of credit availability (the “Revolving Credit Facility”).  To secure the Credit Facility the Company pledged all personal property assets of Borrower, including, but not limited to accounts receivable, coal inventory, and certain surface mining equipment. Real property and improvements are excluded from the collateral package and are not encumbered in connection with the Credit Facility. The Company used the Credit Facility to repay existing notes payable and provide working capital. The Credit Facility has a maturity date of November 2, 2021.

The outstanding principal balance of the Term Loan is required to be repaid in monthly installments of approximately $0.4 million until fully repaid.  As of June 30, 2019, the outstanding principal balance was $7.1 million and the carrying amount was $7.0 million. As of December 31, 2018, the outstanding principal balance was $9.6 million and the carrying amount was $9.5 million. As of June 30, 2019, there was $8.0 million outstanding on the Revolving Credit Facility.  There was no outstanding balance on the Revolving Credit Facility at December 31, 2018. For additional information on the Credit Facility, see Note 4 of the Notes to Unaudited Condensed Consolidated Financial Statements included in Item 1 of Part I in this Quarterly Report on Form 10‑Q.

Liquidity

As of June 30, 2019, our liquidity was $26.7 million. We expect to fund our capital and liquidity requirements with cash on hand, borrowings discussed above and projected cash flow from operations. Factors that could adversely impact our future liquidity and ability to carry out our capital expenditure program include the following:

·

Timely delivery of our product by rail and other transportation carriers;

·

Timely payment of accounts receivable by our customers;

·

Cost overruns in our purchases of equipment needed to complete our mine development plans;

·

Delays in completion of development of our various mines which would reduce the coal we would have available to sell and our cash flow from operations; and

·

Adverse changes in the metallurgical coal markets that would reduce the expected cash flow from operations.

 

Capital Requirements

Our primary use of cash currently includes capital expenditures for mine development and for ongoing operating expenses. During the first six months of 2019, our capital expenditures totaled approximately $19.7 million.

Management believes that current cash on hand, cash flow from operations, and availability under the Revolving Credit Facility will be sufficient to meet its current capital expenditure and operating plans.

If future cash flows are insufficient to meet our liquidity needs or capital requirements, we may reduce our expected level of capital expenditures and/or fund a portion of our capital expenditures through the issuance of debt or equity securities, entry into debt arrangements or from other sources, such as asset sales.

21

Off-Balance Sheet Arrangements

As of June 30, 2019, we had no material off-balance sheet arrangements.

Item 3.  Quantitative and Qualitative Disclosures about Market Risk

For quantitative and qualitative disclosures about market risk affecting the Company, see Item 7A, “Quantitative and Qualitative Disclosures about Market Risk,” of our Annual Report on Form 10‑K for the year ended December 31, 2018. The Company’s exposure to market risk has not changed materially since December 31, 2018.

 

Item 4.  Controls and Procedures

Disclosure Controls and Procedures

As required by Rule 13a‑15(b) of the Exchange Act, we have evaluated, under the supervision and with the participation of our management, including our principal executive officer and principal financial officer, the effectiveness of our disclosure controls and procedures (as defined in Rules 13a‑15(e) and 15d‑15(e) under the Exchange Act) as of the end of the period covered by this quarterly report. Our disclosure controls and procedures are designed to provide reasonable assurance that the information required to be disclosed by us in reports that we file under the Exchange Act is accumulated and communicated to our management, including our principal executive officer and principal financial officer, as appropriate to allow timely decisions regarding required disclosure, and is recorded, processed, summarized and reported within the time periods specified in the rules and forms of the SEC. Based upon that evaluation, our principal executive officer and principal financial officer concluded that our disclosure controls and procedures were effective as of the end of the period covered by this quarterly report, at the reasonable assurance level.

Changes in Internal Control over Financial Reporting

We regularly review our system of internal control over financial reporting and make changes to our processes and systems to improve controls and increase efficiency, while ensuring that we maintain an effective internal control environment. Changes may include such activities as implementing new, more efficient systems, consolidating activities and migrating processes.

There were no significant changes in our system of internal control over financial reporting (as defined in Rule 13a‑15(f) under the Exchange Act) during the quarter ended June 30, 2019, that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

22

PART II.   OTHER INFORMATION

Item 1.  Legal Proceedings

 

Due to the nature of our business, we may become, from time to time, involved in routine litigation or subject to disputes or claims related to our business activities. While the outcome of these proceedings cannot be predicted with certainty, in the opinion of our management, there are no pending litigation, disputes or claims against us which, if decided adversely, individually or in the aggregate, will have a material adverse effect on our financial condition, cash flows or results of operations.

Item 1A.  Risk Factors

 

In addition to the other information set forth in this Quarterly Report, you should carefully consider the risk factors and other cautionary statements described under the heading “Item 1A. Risk Factors” included in our Annual Report and the risk factors and other cautionary statements contained in our other SEC filings, which could materially affect our businesses, financial condition or future results. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial also may materially adversely affect our business, financial condition or future results. There have been no material changes in our risk factors from those described in our Annual Report.

Item 4.  Mine Safety Disclosures

 

The information concerning mine safety violations or other regulatory matters required by Section 1503(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act and Item 104 of Regulation S-K is included in Exhibit 95.1 to this Quarterly Report.

Item 6.  Exhibits

 

*31.1

Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

 

 

*31.2

Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

 

 

**32.1

Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

 

 

**32.2

Certification of Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

 

 

*95.1

Mine Safety Disclosure

 

 

*101.INS

XBRL Instance Document

 

 

*101.SCH

XBRL Taxonomy Extension Schema Document

 

 

*101.CAL

XBRL Taxonomy Extension Calculation Linkbase Document

 

 

*101.DEF

XBRL Taxonomy Extension Definition Linkbase Document

 

 

*101.LAB

XBRL Taxonomy Extension Labels Linkbase Document

 

 

*101.PRE

XBRL Taxonomy Extension Presentation Linkbase Document


*     Exhibit filed herewith.

**   Furnished herewith. Pursuant to SEC Release No. 33‑8212, this certification will be treated as “accompanying” this Quarterly Report on Form 10‑Q and not “filed” as part of such report for purposes of Section 18 of the Exchange Act or otherwise subject to the liability under Section 18 of the Exchange Act, and this certification will not be deemed to be incorporated by reference into any filing under the Securities Act, except to the extent that the registrant specifically incorporates it by reference.

23

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

 

 

 

RAMACO RESOURCES, INC.

 

 

 

 

 

 

August 13, 2019

By:

/s/ Michael D. Bauersachs

 

 

Michael D. Bauersachs

 

 

President and Chief Executive Officer and Director

 

 

(Principal Executive Officer)

 

 

 

 

 

 

August 13, 2019

By:

/s/ Jeremy R. Sussman

 

 

Jeremy R. Sussman

 

 

Chief Financial Officer

 

 

(Principal Financial Officer)

 

24

EX-31.1 2 metc-20190630ex3117e874d.htm EX-31.1 metc_Ex31_1

Exhibit 31.1

 

CERTIFICATION OF CHIEF EXECUTIVE OFFICER

PURSUANT TO RULE 13A‑14(A) AND RULE 15D‑14(A)

OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED

 

I, Michael D. Bauersachs, certify that:

 

1.

I have reviewed this Quarterly Report on Form 10‑Q for the quarterly period ended June 30, 2019 of Ramaco Resources, Inc. (the “registrant”);

 

2.

Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

 

3.

Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

 

4.

The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a‑15(e) and 15d‑15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a‑15(f) and 15d‑15(f)) for the registrant and have:

 

a.

Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

 

b.

Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

 

c.

Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation;

 

d.

Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

 

5.

The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

 

a.

All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

 

b.

Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

 

 

 

Date: August 13, 2019

/s/ Michael D. Bauersachs

 

Michael D. Bauersachs

President and Chief Executive Officer

 

 

EX-31.2 3 metc-20190630ex312361990.htm EX-31.2 metc_Ex31_2

Exhibit 31.2

 

CERTIFICATION OF CHIEF FINANCIAL OFFICER

PURSUANT TO RULE 13A‑14(A) AND RULE 15D‑14(A)

OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED

 

I, Jeremy R. Sussman, certify that:

 

1.

I have reviewed this Quarterly Report on Form 10‑Q for the quarterly period ended June 30, 2019 of Ramaco Resources, Inc. (the “registrant”);

 

2.

Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

 

3.

Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

 

4.

The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a‑15(e) and 15d‑15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a‑15(f) and 15d‑15(f)) for the registrant and have:

 

a.

Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

 

b.

Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

 

c.

Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation;

 

d.

Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

 

5.

The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

 

a.

All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

 

b.

Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

 

 

 

Date: August 13, 2019

/s/ Jeremy R. Sussman

 

Jeremy R. Sussman

Chief Financial Officer

 

EX-32.1 4 metc-20190630ex321fd90bc.htm EX-32.1 metc_Ex32_1

Exhibit 32.1

 

CERTIFICATION OF

CHIEF EXECUTIVE OFFICER

UNDER SECTION 906 OF THE

SARBANES OXLEY ACT OF 2002, 18 U.S.C. § 1350

 

In connection with the Quarterly Report on Form 10‑Q for the quarterly period ended June 30, 2019 of Ramaco Resources, Inc. (the “Company”), as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Michael Bauersachs, Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to my knowledge:

 

(1)

the Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

 

(2)

the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

 

 

 

Date: August 13, 2019

/s/ Michael D. Bauersachs

 

Michael D. Bauersachs

President and Chief Executive Officer

 

EX-32.2 5 metc-20190630ex3225fa059.htm EX-32.2 metc_Ex32_2

Exhibit 32.2

 

CERTIFICATION OF

CHIEF FINANCIAL OFFICER

UNDER SECTION 906 OF THE

SARBANES OXLEY ACT OF 2002, 18 U.S.C. § 1350

 

In connection with the Quarterly Report on Form 10‑Q for the quarterly period ended June 30, 2019 of Ramaco Resources, Inc. (the “Company”), as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Randy Atkins, Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to my knowledge:

 

(1)

the Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

 

(2)

the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

 

 

 

Date: August 13, 2019

/s/ Jeremy R. Sussman

 

Jeremy R. Sussman

Chief Financial Officer

 

EX-95.1 6 metc-20190630ex951979cb7.htm EX-95.1 metc_Ex95_1

Exhibit 95.1

 

Federal Mine Safety and Health Act Information

 

We work to prevent accidents and occupational illnesses. We have in place health and safety programs that include extensive employee training, safety incentives, drug and alcohol testing and safety audits. The objectives of our health and safety programs are to provide a safe work environment, provide employees with proper training and equipment and implement safety and health rules, policies and programs that foster safety excellence.

 

Our mining operations are subject to extensive and stringent compliance standards established pursuant to the Federal Mine Safety and Health Act of 1977 (the “Mine Act”). MSHA monitors and rigorously enforces compliance with these standards, and our mining operations are inspected frequently. Citations and orders are issued by MSHA under Section 104 of the Mine Act for violations of the Mine Act or any mandatory health or safety standard, rule, order or regulation promulgated under the Mine Act.

 

The Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank Act”) requires issuers to include in periodic reports filed with the SEC certain information relating to citations or orders for violations of standards under the Mine Act. We present information below regarding certain mining safety and health violations, orders and citations, issued by MSHA and related assessments and legal actions and mine-related fatalities with respect to our coal mining operations. In evaluating this information, consideration should be given to factors such as: (i) the number of violations, orders and citations will vary depending on the size of the coal mine, (ii) the number of violations, orders and citations issued will vary from inspector to inspector and mine to mine, and (iii) violations, orders and citations can be contested and appealed, and in that process, are often reduced in severity and amount, and are sometimes dismissed.

 

The following tables include information required by the Dodd-Frank Act for the three months ended March 31, 2019. The mine data retrieval system maintained by MSHA may show information that is different than what is provided herein. Any such difference may be attributed to the need to update that information on MSHA’s system and/or other factors. The tables below do not include any orders or citations issued to independent contractors at our mines.

 

 

    

    

    

    

    

    

    

    

    

    

    

    

 

Mine or Operating Name / 
MSHA Identification Number

    

Section
104(a)
S&S
Citations
(1)

    

Section
104(b)
Orders
(2)

    

Section
104(d)
Citations and
Orders
(3)

    

Section
110(b)(2)
Violations
(4)

    

Section
107(a)
Orders
(5)

    

Total Dollar
Value of MSHA
Assessments
Proposed
(in thousands)
(6)

 

Active Operations

 

  

 

  

 

  

 

  

 

  

 

 

  

 

Eagle Seam Deep Mine 46‑09495

 

 

 

 

 

 

$

 

Coal Creek Prep Plant (VA) 44‑05236

 

 

 

 

 

 

$

 

Elk Creek Prep Plant 46‑02444

 

11 

 

 

 

 

 

$

 

Stonecoal Branch Mine No. 2 46‑08663

 

 

 

 

 

 

$

 

Ram Surface Mine No. 1 46‑09537

 

 

 

 

 

 

$

 

Highwall Miner No. 1 46‑09219

 

 

 

 

 

 

$

 

Berwind Deep Mine 46‑09533

 

 

 

 

 

 

$

 

No. 2 Gas Deep Mine 46‑09541

 

 

 

 

 

 

$

 

 

 

    

    

    

    

    

    

    

    

    

    

 

Mine or Operating Name /
MSHA Identification Number

    

Total Number
of
Mining Related
Fatalities

    

Received Notice of
Pattern of
Violations Under
Section 104(e)
(yes/no)
(7)

    

Legal Actions
Pending as of
Last
Day of Period

    

Legal Actions
Initiated During
Period

    

Legal Actions
Resolved During
Period

 

Active Operations

 

  

 

  

 

  

 

  

 

  

 

Eagle Seam Deep Mine 46‑09495

 

 

No

 

 

 

 

Coal Creek Prep Plant (VA) 44‑05236

 

 

No

 

 

 

 

Elk Creek Prep Plant 46‑02444

 

 

No

 

 

 

 

Stonecoal Branch Mine No. 2 46‑08663

 

 

No

 

 

15 

 

 

Ram Surface Mine No. 1 46‑09537

 

 

No

 

 

 

 

Highwall Miner No. 1 46‑09219

 

 

No

 

 

 

 

Berwind Deep Mine 46‑09533

 

 

No

 

 

 

 

No. 2 Gas 46‑09541

 

 

No

 

 

 

 

 

The number of legal actions pending before the Federal Mine Safety and Health Review Commission as of September 30, 2018 that fall into each of the following categories is as follows:

 

 

    

    

    

    

    

    

    

    

    

    

    

    

 

Mine or Operating Name /
MSHA Identification Number

    

Contests of
Citations and
Orders

    

Contests of
Proposed
Penalties

    

Complaints for
Compensation

    

Complaints of
Discharge /
Discrimination /
Interference

    

Applications
for Temporary
Relief

    

Appeals of
Judge’s
Ruling

 

Active Operations

 

  

 

  

 

  

 

  

 

  

 

  

 

Eagle Seam Deep Mine 46‑09495

 

 

 

 

 

 

 

Coal Creek Prep Plant (VA) 44‑05236

 

 

 

 

 

 

 

Elk Creek Prep Plant 46‑02444

 

 

 

 

 

 

 

Stonecoal Branch Mine No. 2 46‑08663

 

 

15 

 

 

 

 

 

Ram Surface Mine No. 1 46‑09537

 

 

 

 

 

 

 

Highwall Miner No. 1 46‑09219

 

 

 

 

 

 

 

Berwind Deep Mine 46‑09533

 

 

 

 

 

 

 

No. 2 Gas 46‑09541

 

 

 

 

 

 

 


(1)

Mine Act section 104(a) S&S citations shown above are for alleged violations of mandatory health or safety standards that could significantly and substantially contribute to a coal mine health and safety hazard. It should be noted that, for purposes of this table, S&S citations that are included in another column, such as Section 104(d) citations, are not also included as Section 104(a) S&S citations in this column.

 

(2)

Mine Act section 104(b) orders are for alleged failures to totally abate a citation within the time period specified in the citation.

 

(3)

Mine Act section 104(d) citations and orders are for an alleged unwarrantable failure (i.e., aggravated conduct constituting more than ordinary negligence) to comply with mandatory health or safety standards.

 

(4)

Mine Act section 110(b)(2) violations are for an alleged “flagrant” failure (i.e., reckless or repeated) to make reasonable efforts to eliminate a known violation of a mandatory safety or health standard that substantially and proximately caused, or reasonably could have been expected to cause, death or serious bodily injury.

(5)

Mine Act section 107(a) orders are for alleged conditions or practices which could reasonably be expected to cause death or serious physical harm before such condition or practice can be abated and result in orders of immediate withdrawal from the area of the mine affected by the condition.

 

(6)

Amounts shown include assessments proposed by MSHA during the three months ended June 30, 2019 on all citations and orders, including those citations and orders that are not required to be included within the above chart.

 

(7)

Mine Act section 104(e) written notices are for an alleged pattern of violations of mandatory health or safety standards that could significantly and substantially contribute to a coal mine safety or health hazard.

EX-101.INS 7 metc-20190630.xml EX-101.INS 0001687187 us-gaap:RetainedEarningsMember 2019-06-30 0001687187 us-gaap:CommonStockMember 2019-06-30 0001687187 us-gaap:AdditionalPaidInCapitalMember 2019-06-30 0001687187 us-gaap:RetainedEarningsMember 2018-12-31 0001687187 us-gaap:CommonStockMember 2018-12-31 0001687187 us-gaap:AdditionalPaidInCapitalMember 2018-12-31 0001687187 us-gaap:RetainedEarningsMember 2018-06-30 0001687187 us-gaap:CommonStockMember 2018-06-30 0001687187 us-gaap:AdditionalPaidInCapitalMember 2018-06-30 0001687187 us-gaap:RetainedEarningsMember 2017-12-31 0001687187 us-gaap:CommonStockMember 2017-12-31 0001687187 us-gaap:AdditionalPaidInCapitalMember 2017-12-31 0001687187 us-gaap:EmployeeStockOptionMember 2016-08-31 2016-08-31 0001687187 us-gaap:RestrictedStockMember 2018-12-31 0001687187 srt:MinimumMember us-gaap:RestrictedStockMember 2019-01-01 2019-06-30 0001687187 srt:MaximumMember us-gaap:RestrictedStockMember 2019-01-01 2019-06-30 0001687187 metc:ExportCoalRevenuesMember 2019-04-01 2019-06-30 0001687187 metc:DomesticCoalRevenuesMember 2019-04-01 2019-06-30 0001687187 metc:ExportCoalRevenuesMember 2019-01-01 2019-06-30 0001687187 metc:DomesticCoalRevenuesMember 2019-01-01 2019-06-30 0001687187 metc:ExportCoalRevenuesMember 2018-04-01 2018-06-30 0001687187 metc:DomesticCoalRevenuesMember 2018-04-01 2018-06-30 0001687187 metc:ExportCoalRevenuesMember 2018-01-01 2018-06-30 0001687187 metc:DomesticCoalRevenuesMember 2018-01-01 2018-06-30 0001687187 metc:TakeOrPayPurchaseCommitmentsMember 2019-06-30 0001687187 us-gaap:MineDevelopmentMember 2019-06-30 0001687187 us-gaap:ConstructionInProgressMember 2019-06-30 0001687187 metc:PlantAndEquipmentAtCostMember 2019-06-30 0001687187 us-gaap:MineDevelopmentMember 2018-12-31 0001687187 us-gaap:ConstructionInProgressMember 2018-12-31 0001687187 metc:PlantAndEquipmentAtCostMember 2018-12-31 0001687187 us-gaap:AccountingStandardsUpdate201602Member 2019-01-01 0001687187 us-gaap:RetainedEarningsMember 2019-01-01 2019-06-30 0001687187 us-gaap:RetainedEarningsMember 2018-01-01 2018-06-30 0001687187 us-gaap:RevolvingCreditFacilityMember metc:KeybankNationalAssociationMember 2018-11-02 0001687187 us-gaap:LetterOfCreditMember metc:KeybankNationalAssociationMember 2018-11-02 0001687187 us-gaap:RevolvingCreditFacilityMember metc:KeybankNationalAssociationMember 2019-06-30 0001687187 us-gaap:RevolvingCreditFacilityMember metc:KeybankNationalAssociationMember 2018-12-31 0001687187 us-gaap:RestrictedStockMember 2019-06-30 0001687187 us-gaap:AccountsPayableAndAccruedLiabilitiesMember metc:MineralLeaseAndSurfaceRightsAgreementsMember metc:RamacoCoalLLCMember 2019-06-30 0001687187 metc:SharedServicesOfCertainEmployeesMember metc:RamacoCoalLLCMember 2019-06-30 0001687187 us-gaap:AccountsPayableAndAccruedLiabilitiesMember metc:MineralLeaseAndSurfaceRightsAgreementsMember metc:RamacoCoalLLCMember 2018-12-31 0001687187 metc:TermLoanMember metc:KeybankNationalAssociationMember 2019-06-30 0001687187 metc:TermLoanMember metc:KeybankNationalAssociationMember 2018-12-31 0001687187 us-gaap:RevolvingCreditFacilityMember metc:KeybankNationalAssociationMember us-gaap:LondonInterbankOfferedRateLIBORMember 2018-11-02 2018-11-02 0001687187 us-gaap:RevolvingCreditFacilityMember metc:KeybankNationalAssociationMember us-gaap:BaseRateMember 2018-11-02 2018-11-02 0001687187 metc:TermLoanMember metc:KeybankNationalAssociationMember us-gaap:LondonInterbankOfferedRateLIBORMember 2018-11-02 2018-11-02 0001687187 metc:TermLoanMember metc:KeybankNationalAssociationMember us-gaap:BaseRateMember 2018-11-02 2018-11-02 0001687187 metc:TermLoanBaseRateMember metc:KeybankNationalAssociationMember us-gaap:LondonInterbankOfferedRateLIBORMember 2018-11-02 2018-11-02 0001687187 metc:TermLoanBaseRateMember metc:KeybankNationalAssociationMember us-gaap:FederalFundsEffectiveSwapRateMember 2018-11-02 2018-11-02 0001687187 2018-06-30 0001687187 2017-12-31 0001687187 us-gaap:RestrictedStockMember 2019-04-01 2019-06-30 0001687187 us-gaap:RestrictedStockMember 2019-01-01 2019-06-30 0001687187 us-gaap:EmployeeStockOptionMember 2017-01-01 2017-12-31 0001687187 us-gaap:CommonStockMember 2019-01-01 2019-06-30 0001687187 us-gaap:AdditionalPaidInCapitalMember 2019-01-01 2019-06-30 0001687187 us-gaap:CommonStockMember 2018-01-01 2018-06-30 0001687187 us-gaap:AdditionalPaidInCapitalMember 2018-01-01 2018-06-30 0001687187 2019-04-01 2019-06-30 0001687187 2018-04-01 2018-06-30 0001687187 2019-06-30 0001687187 2018-12-31 0001687187 metc:FixedPricedContractsMember 2019-01-01 2019-06-30 0001687187 metc:ContractsWithIndexedBasedPricingMechanismsMember 2020-01-01 2019-06-30 0001687187 metc:ContractsWithIndexedBasedPricingMechanismsMember 2019-01-01 2019-06-30 0001687187 us-gaap:SalesRevenueNetMember us-gaap:CustomerConcentrationRiskMember 2019-04-01 2019-06-30 0001687187 us-gaap:SalesRevenueNetMember us-gaap:CustomerConcentrationRiskMember 2019-01-01 2019-06-30 0001687187 us-gaap:AccountsReceivableMember us-gaap:CustomerConcentrationRiskMember 2019-01-01 2019-06-30 0001687187 us-gaap:SalesRevenueNetMember us-gaap:CustomerConcentrationRiskMember 2018-04-01 2018-06-30 0001687187 us-gaap:SalesRevenueNetMember us-gaap:CustomerConcentrationRiskMember 2018-01-01 2018-06-30 0001687187 us-gaap:EmployeeStockOptionMember 2016-08-31 0001687187 metc:TermLoanMember metc:KeybankNationalAssociationMember 2018-11-02 0001687187 metc:CoalPropertiesMember 2019-06-30 0001687187 metc:CoalPropertiesMember 2018-12-31 0001687187 2018-01-01 2018-06-30 0001687187 2019-08-03 0001687187 2019-01-01 2019-06-30 xbrli:pure iso4217:USD xbrli:shares utr:T metc:customer metc:employee iso4217:USD xbrli:shares false --12-31 Q2 2019 2019-06-30 10-Q 0001687187 40942581 Yes true true Non-accelerated Filer Yes Ramaco Resources, Inc. false true 127000 137000 5500000 7200000 400000 82000 -68000 2 3 3 4 4 4 427000 287000 100000 100000 800000 16393000 16325000 10729000 26099000 8094000 9390000 15809000 24690000 150926000 152872000 1000000 600000 2500000 1400000 1245000 1240000 5000 1954000 1946000 8000 3045000 3113000 2100000 1200000 700000 2000000 2000000 1100000 1100000 187000 28000 13200000 247000 247000 124000 256000 256000 128000 71000 513000 12707000 12656000 188244000 218137000 35019000 49837000 <div> <div> <p style="margin:0pt 0pt 12pt;text-indent:18pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-style:italic;">Basis of Presentation</font><font style="display:inline;">&#x2014;These interim financial statements are unaudited and have been prepared pursuant to the rules&nbsp;and regulations of the Securities and Exchange Commission (&#x201C;SEC&#x201D;) regarding interim financial reporting. Certain disclosures have been condensed or omitted from these financial statements. Accordingly, they do not include all the information and notes required by accounting principles generally accepted in the United States of America (&#x201C;GAAP&#x201D;) for complete consolidated financial statements, and should be read in conjunction with the audited consolidated financial statements and notes thereto included in our Annual Report on Form&nbsp;10&#8209;K for the&nbsp;year ended December&nbsp;31, 2018.</font> </p> <p style="margin:0pt 0pt 12pt;text-indent:18pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">In the opinion of management, the accompanying unaudited condensed consolidated financial statements include all adjustments, consisting of normal recurring adjustments, necessary to fairly present the financial position as of, and the results of operations for, all periods presented. In preparing the accompanying financial statements, management has made certain estimates and assumptions that affect reported amounts in the condensed consolidated financial statements and disclosures of contingencies. Actual results may differ from those estimates. The results for interim periods are not necessarily indicative of annual results. Certain reclassifications have been made to the prior period&#x2019;s consolidated financial statements and related footnotes to conform them to the current period presentation.</font> </p><div /></div> </div> <div> <div> <p style="margin:0pt;text-indent:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-weight:bold;">Ramaco Resources,&nbsp;Inc.</font> </p> <p style="margin:0pt 0pt 12pt;text-indent:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-weight:bold;">Notes&nbsp;to Unaudited Condensed Consolidated&nbsp;Financial&nbsp;Statements</font> </p> <p style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:bold;font-size: 10pt;"> <font style="display:inline;">NOTE&nbsp;1&#x2014;DESCRIPTION OF BUSINESS</font> </p> <p style="margin:0pt 0pt 12pt;text-indent:18pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Ramaco Resources,&nbsp;Inc. is a Delaware corporation formed in&nbsp;October&nbsp;2016.&nbsp;Our principal corporate offices are located in Lexington, Kentucky.&nbsp;Through our wholly-owned subsidiary, Ramaco Development, LLC, we are an operator and developer of high-quality, low-cost metallurgical coal in southern West Virginia, southwestern Virginia, and southwestern Pennsylvania.</font> </p> <p style="margin:0pt;text-indent:18pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Pursuant to the terms of a corporate reorganization&nbsp;(&#x201C;Reorganization&#x201D;) that was completed in connection with the closing of our initial public offering (&#x201C;IPO&#x201D;) on February&nbsp;8, 2017, all the interests in Ramaco Development, LLC were exchanged for our newly issued common shares and as a result, Ramaco Development, LLC became our wholly-owned subsidiary. The terms &#x201C;the Company,&#x201D; &#x201C;we,&#x201D; &#x201C;us,&#x201D; &#x201C;our,&#x201D; and similar terms when used in the present tense, prospectively or for periods since our Reorganization,&nbsp;refer to&nbsp;Ramaco Resources,&nbsp;Inc. and its subsidiaries, and for historical periods prior to our Reorganization refer to Ramaco Development LLC and its subsidiaries. Intercompany balances and transactions between consolidated entities are eliminated.</font> </p><div /></div> </div> 2128000 5373000 5934000 5911000 6951000 6951000 5541000 5541000 -23000 -1410000 <div> <div> <p style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:bold;font-size: 10pt;"> <font style="display:inline;">NOTE&nbsp;6&#x2014;COMMITMENTS AND CONTINGENCIES</font> </p> <p style="margin:0pt 0pt 12pt 18pt;font-family:Times New Roman,Times,serif;font-weight:bold;font-size: 10pt;"> <font style="display:inline;">Surety Bond</font> </p> <p style="margin:0pt 0pt 12pt;text-indent:18pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">As of&nbsp;June 30, 2019, our asset retirement obligations totaled&nbsp;$13.2 million&nbsp;and we had total corresponding reclamation bonding requirements of&nbsp;$12.8 million, which were supported by surety bonds.</font> </p> <p style="margin:0pt 0pt 12pt 19.8pt;font-family:Times New Roman,Times,serif;font-weight:bold;font-size: 10pt;"> <font style="display:inline;">Purchase Commitments</font> </p> <p style="margin:0pt 0pt 12pt;text-indent:18pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">We secure the ability to transport coal through rail contracts and export terminals that are sometimes funded through take-or-pay arrangements. As of&nbsp;June 30, 2019, commitments under take-or-pay arrangements totaled approximately $2.3 million through March&nbsp;31, 2020.</font> </p> <p style="margin:0pt 0pt 12pt 18pt;font-family:Times New Roman,Times,serif;font-weight:bold;font-size: 10pt;"> <font style="display:inline;">Litigation</font> </p> <p style="margin:0pt;text-indent:18pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">From time to time, the Company is subject to various litigation and other claims in the normal course of business.&nbsp;No&nbsp;amounts have been accrued in the consolidated financial statements with respect to any matters.</font> </p><div /></div> </div> 0.01 0.01 260000000 40082467 40942581 40082467 40942581 40942581 401000 409000 <div> <div> <p style="margin:0pt 0pt 12pt;text-indent:18pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-style:italic;">Concentrations&#x2014;</font><font style="display:inline;">During the three and six&nbsp;months ended June 30, 2019, sales to four customers accounted for approximately 55% of total revenue in each period. The total balance due from these four customers at June 30, 2019 was approximately 69% of total accounts receivable. During the three and six&nbsp;months ended June 30, 2018 sales to three customers accounted for approximately 79% and 75% of total revenue, respectively.</font> </p><div /></div> </div> 0.75 0.79 0.69 0.55 0.55 92191000 47860000 84225000 43219000 104954000 54631000 102083000 52872000 <div> <div> <p style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:bold;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;">NOTE&nbsp;4&#x2014;DEBT</font> </p> <p style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:bold;font-size: 10pt;"> <font style="display:inline;">Credit Facility</font> </p> <p style="margin:0pt 0pt 12pt;text-indent:18pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">On November&nbsp;2, 2018 the Company (together with its subsidiaries, and collectively the &#x201C;Borrower&#x201D;) entered into a Credit and Security Agreement (the &#x201C;Credit Facility&#x201D;) with KeyBank National Association (&#x201C;KeyBank&#x201D;). The Credit Facility consists of a $10.0 million term loan (the &#x201C;Term Loan&#x201D;) and up to $30.0 million revolving line of credit, including $1.0 million letter of credit availability (the &#x201C;Revolving Credit Facility&#x201D;). To secure the Credit Facility the Company pledged all personal property assets of Borrower, including, but not limited to accounts receivable, coal inventory, and certain surface mining equipment. Real property and improvements are excluded from the collateral package and are not encumbered in connection with the Credit Facility. The Company used the Credit Facility to repay existing notes payable and provide working capital.&nbsp;The Credit Facility has a maturity date of November&nbsp;2, 2021.</font> </p> <p style="margin:0pt 0pt 12pt;text-indent:18pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">The Revolving Credit Facility interest rate is based on LIBOR + 2.35% or Base Rate + 1.75%. The Term Loan credit interest rate is based on LIBOR + 4.75% or Base Rate + 3.75%. Base Rate is the highest of (i)&nbsp;KeyBank&#x2019;s prime rate, (ii)&nbsp;Federal Funds Effective Rate + 0.5%, or (iii)&nbsp;LIBOR + 1.0%. Both loans are initially base rate loans, but may be converted to LIBOR rate loans at certain times at the Company&#x2019;s discretion.</font> </p> <p style="margin:0pt 0pt 12pt;text-indent:18pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">The outstanding principal balance of the Term Loan is required to be repaid in&nbsp;monthly installments of approximately&nbsp;$0.4 million&nbsp;until fully repaid. As of June 30, 2019, the outstanding principal balance of the Term Loan was $7.1 million and the carrying amount was $7.0 million. As of December&nbsp;31, 2018, the outstanding principal balance of the Term Loan was $9.6 million and the carrying amount was $9.5 million. As of June 30, 2019, $8.0 million was outstanding on the Revolving Credit Facility. There was no outstanding balance on the Revolving Credit Facility at December&nbsp;31, 2018.</font> </p> <p style="margin:0pt;text-indent:18pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">The Credit Facility contains usual and customary representations and warranties and usual and customary affirmative and negative covenants, including but not limited to, limitations on liens, additional indebtedness, investments, restricted payments, asset sales, mergers, affiliate transactions and other customary limitations, as well as financial covenants. As of June 30, 2019, the Company was in compliance with all covenants under the Credit Facility.</font> </p><div /></div> </div> 0.0050 0.0100 0.0375 0.0475 0.0175 0.0235 10000000 9600000 7100000 1385000 3429000 109000 3537000 4400000 2300000 6400000 3400000 5393000 5393000 2955000 8938000 8938000 4822000 <div> <div> <div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 90.84%;"> <tr> <td valign="bottom" style="width:50.68%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.82%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:08.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:02.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:09.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:02.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:08.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.82%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:08.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:00.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="bottom" style="width:50.68%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-size:8pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.82%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td colspan="5" valign="bottom" style="width:23.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;text-align:center;color:#000000;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">Three months ended June&nbsp;30,&nbsp;</font></p> </td> <td valign="bottom" style="width:02.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;text-align:center;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td colspan="5" valign="bottom" style="width:21.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;text-align:center;color:#000000;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">Six months ended June&nbsp;30,&nbsp;</font></p> </td> <td valign="bottom" style="width:00.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="bottom" style="width:50.68%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-style:italic;color:#000000;font-size:8pt;">(In thousands)</font></p> </td> <td valign="bottom" style="width:01.82%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p> </td> <td colspan="2" valign="bottom" style="width:10.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">2019</font></p> </td> <td valign="bottom" style="width:02.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p> </td> <td colspan="2" valign="bottom" style="width:10.98%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">2018</font></p> </td> <td valign="bottom" style="width:02.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;text-align:center;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td colspan="2" valign="bottom" style="width:09.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">2019</font></p> </td> <td valign="bottom" style="width:01.82%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p> </td> <td colspan="2" valign="bottom" style="width:09.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">2018</font></p> </td> <td valign="bottom" style="width:00.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="bottom" style="width:50.68%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">Coal Sales</font></p> </td> <td valign="bottom" style="width:01.82%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:08.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 3pt 0.05pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;&nbsp;</font></p> </td> <td valign="bottom" style="width:02.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:09.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 3pt 0.05pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;&nbsp;</font></p> </td> <td valign="bottom" style="width:02.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:08.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 3pt 0.05pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;&nbsp;</font></p> </td> <td valign="bottom" style="width:01.82%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:08.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 3pt 0.05pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;&nbsp;</font></p> </td> <td valign="bottom" style="width:00.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="bottom" style="width:50.68%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt 6pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">Domestic revenues</font></p> </td> <td valign="bottom" style="width:01.82%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">$</font></p> </td> <td valign="bottom" style="width:08.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 3pt 0.05pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 39,544</font></p> </td> <td valign="bottom" style="width:02.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">$</font></p> </td> <td valign="bottom" style="width:09.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 3pt 0.05pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 34,376</font></p> </td> <td valign="bottom" style="width:02.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">$</font></p> </td> <td valign="bottom" style="width:08.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 3pt 0.05pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 76,116</font></p> </td> <td valign="bottom" style="width:01.82%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">$</font></p> </td> <td valign="bottom" style="width:08.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 3pt 0.05pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 60,074</font></p> </td> <td valign="bottom" style="width:00.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="bottom" style="width:50.68%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt 6pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">Export revenues</font></p> </td> <td valign="bottom" style="width:01.82%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:08.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 3pt 0.05pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 26,217</font></p> </td> <td valign="bottom" style="width:02.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:09.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 3pt 0.05pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 30,902</font></p> </td> <td valign="bottom" style="width:02.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:08.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 3pt 0.05pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 47,105</font></p> </td> <td valign="bottom" style="width:01.82%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:08.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 3pt 0.05pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 61,147</font></p> </td> <td valign="bottom" style="width:00.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="bottom" style="width:50.68%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">Total revenues</font></p> </td> <td valign="bottom" style="width:01.82%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">$</font></p> </td> <td valign="bottom" style="width:08.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 3pt 0.05pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 65,761</font></p> </td> <td valign="bottom" style="width:02.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">$</font></p> </td> <td valign="bottom" style="width:09.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 3pt 0.05pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 65,278</font></p> </td> <td valign="bottom" style="width:02.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">$</font></p> </td> <td valign="bottom" style="width:08.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 3pt 0.05pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 123,221</font></p> </td> <td valign="bottom" style="width:01.82%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">$</font></p> </td> <td valign="bottom" style="width:08.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 3pt 0.05pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 121,221</font></p> </td> <td valign="bottom" style="width:00.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> </table></div> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p><div /></div> </div> 2900000 4000 800000 0.39 0.39 0.25 0.25 0.43 0.43 0.26 0.26 0.38 0.38 0.25 0.25 0.43 0.43 0.26 0.26 <div> <div> <p style="margin:0pt 0pt 12pt;text-indent:18pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-style:italic;">Earnings per Share</font><font style="display:inline;font-family:Times New Roman,Times,serif;">&#x2014;</font><font style="display:inline;">Basic earnings per share is calculated using our weighted-average outstanding common shares. Diluted earnings per share is calculated using our weighted-average outstanding common shares including the dilutive effect of stock option awards as determined under the treasury stock method.</font> </p><div /></div> </div> <div> <div> <p style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:bold;font-size: 10pt;"> <font style="display:inline;">NOTE&nbsp;9&#x2014;EARNINGS PER SHARE</font> </p> <p style="margin:0pt;text-indent:18pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">The following is the computation of basic and diluted EPS for the three and six&nbsp;months ended June 30, 2019 and 2018. EPS is reported under the treasury stock method.</font> </p> <p style="margin:0pt;text-indent:0pt;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-size:8pt;">&nbsp;</font> </p> <div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 80.32%;"> <tr> <td valign="bottom" style="width:45.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.70%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:09.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:02.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:10.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:09.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:02.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:09.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:00.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="bottom" style="width:45.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-size:8pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p> </td> <td colspan="5" valign="bottom" style="width:26.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt;text-align:center;color:#000000;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">Three months ended June&nbsp;30,&nbsp;</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td colspan="5" valign="bottom" style="width:23.86%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt;text-align:center;color:#000000;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">Six months ended June&nbsp;30,&nbsp;</font></p> </td> <td valign="bottom" style="width:00.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="bottom" style="width:45.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-style:italic;color:#000000;font-size:8pt;">(In thousands, except per share amounts)</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p> </td> <td colspan="2" valign="bottom" style="width:11.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">2019</font></p> </td> <td valign="bottom" style="width:02.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p> </td> <td colspan="2" valign="bottom" style="width:12.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">2018</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p> </td> <td colspan="2" valign="bottom" style="width:10.72%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">2019</font></p> </td> <td valign="bottom" style="width:02.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p> </td> <td colspan="2" valign="bottom" style="width:10.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">2018</font></p> </td> <td valign="bottom" style="width:00.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="bottom" style="width:45.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;">Numerator</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.70%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:09.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 3pt 0pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;&nbsp;</font></p> </td> <td valign="bottom" style="width:02.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:10.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 3pt 0pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;&nbsp;</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:09.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 3pt 0pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;&nbsp;</font></p> </td> <td valign="bottom" style="width:02.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:09.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 3pt 0pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;&nbsp;</font></p> </td> <td valign="bottom" style="width:00.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="bottom" style="width:45.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">Net income </font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.70%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">$</font></p> </td> <td valign="bottom" style="width:09.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 3pt 0pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 10,613</font></p> </td> <td valign="bottom" style="width:02.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">$</font></p> </td> <td valign="bottom" style="width:10.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 3pt 0pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 10,204</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">$</font></p> </td> <td valign="bottom" style="width:09.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 3pt 0pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 17,496</font></p> </td> <td valign="bottom" style="width:02.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">$</font></p> </td> <td valign="bottom" style="width:09.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 3pt 0pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 15,470</font></p> </td> <td valign="bottom" style="width:00.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="bottom" style="width:45.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;">Denominator</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.70%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:09.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:02.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:10.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:09.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:02.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:09.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:00.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="bottom" style="width:45.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0pt 6pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">Weighted average shares used to compute basic EPS</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.70%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:09.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 3pt 0pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 40,869</font></p> </td> <td valign="bottom" style="width:02.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:10.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 3pt 0pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 40,082</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:09.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 3pt 0pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 40,737</font></p> </td> <td valign="bottom" style="width:02.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:09.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 3pt 0pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 39,994</font></p> </td> <td valign="bottom" style="width:00.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="bottom" style="width:45.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0pt 6pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">Dilutive effect of share-based awards</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.70%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:09.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 3pt 0pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 96</font></p> </td> <td valign="bottom" style="width:02.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:10.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 3pt 0pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 258</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:09.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 3pt 0pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 73</font></p> </td> <td valign="bottom" style="width:02.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:09.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 3pt 0pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 248</font></p> </td> <td valign="bottom" style="width:00.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="bottom" style="width:45.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0pt 6pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">Weighted average shares used to compute diluted EPS</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.70%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:09.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 3pt 0pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 40,965</font></p> </td> <td valign="bottom" style="width:02.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:10.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 3pt 0pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 40,340</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:09.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 3pt 0pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 40,810</font></p> </td> <td valign="bottom" style="width:02.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:09.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 3pt 0pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 40,242</font></p> </td> <td valign="bottom" style="width:00.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="bottom" style="width:45.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.70%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:09.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:02.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:10.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:09.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:02.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:09.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:00.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="bottom" style="width:45.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0pt 6pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;">Earnings per share</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.70%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:09.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:02.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:10.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:09.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:02.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:09.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:00.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="bottom" style="width:45.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0pt 6pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">Basic</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.70%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">$</font></p> </td> <td valign="bottom" style="width:09.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 3pt 0pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 0.26</font></p> </td> <td valign="bottom" style="width:02.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">$</font></p> </td> <td valign="bottom" style="width:10.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 3pt 0pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 0.25</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">$</font></p> </td> <td valign="bottom" style="width:09.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 3pt 0pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 0.43</font></p> </td> <td valign="bottom" style="width:02.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">$</font></p> </td> <td valign="bottom" style="width:09.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 3pt 0pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 0.39</font></p> </td> <td valign="bottom" style="width:00.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="bottom" style="width:45.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0pt 6pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">Diluted</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.70%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">$</font></p> </td> <td valign="bottom" style="width:09.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 3pt 0pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 0.26</font></p> </td> <td valign="bottom" style="width:02.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">$</font></p> </td> <td valign="bottom" style="width:10.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 3pt 0pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 0.25</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">$</font></p> </td> <td valign="bottom" style="width:09.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 3pt 0pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 0.43</font></p> </td> <td valign="bottom" style="width:02.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">$</font></p> </td> <td valign="bottom" style="width:09.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 3pt 0pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 0.38</font></p> </td> <td valign="bottom" style="width:00.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> </table></div> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font> </p><div /></div> </div> 0.082 0.059 0.168 0.170 0.21 6600000 P1Y7M6D 16855000 10846000 21021000 12781000 <div> <div> <p style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:bold;font-size: 10pt;"> <font style="display:inline;">NOTE&nbsp;8&#x2014;INCOME TAXES</font> </p> <p style="margin:0pt;text-indent:18pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Income tax provisions for interim quarterly periods are based on an estimated annual effective income tax rate calculated separately from the effect of significant, infrequent or unusual items related specifically to interim periods. Income tax expense for the three&nbsp;months ended June 30, 2019 was $2.2&nbsp;million, an effective tax rate of 17.0%, compared to </font><font style="display:inline;color:#000000;">$0.6 million, an effective tax rate of 5.9% for the three months ended June 30, 2018. </font><font style="display:inline;">&nbsp; &nbsp;Income tax expense for the six&nbsp;months ended June 30, 2019 was $3.5 million, an effective tax rate of 16.8%&nbsp;compared to expense of </font><font style="display:inline;color:#000000;">$1.4 million, an effective tax rate of 8.2% for the six months ended June 30, 2018</font><font style="display:inline;">.</font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">The primary difference between the statutory rate of 21% and the actual rate is related to permanent differences for state income taxes, non-deductible expenses and the difference in depletion expense between U.S. GAAP and federal income tax purposes. </font> </p> <p style="margin:0pt;text-indent:18pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p><div /></div> </div> 1385000 642000 3525000 2168000 21100000 15370000 1340000 -4121000 6282000 1295000 1237000 2408000 206000 -135000 977000 -1550000 248 258 73 96 414000 314000 609000 302000 340000 568000 14185000 16593000 <div> <div> <p style="margin:0pt 0pt 12pt;text-indent:18pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-style:italic;">Financial Instruments</font><font style="display:inline;">&#x2014;Our financial assets and liabilities consist of cash, accounts receivable, accounts payable and notes payable. The fair values of these instruments approximate their carrying amounts at each reporting date.</font> </p> <p style="margin:0pt 0pt 12pt;text-indent:18pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">We invested excess cash amounts before its planned expenditure for capital projects in highly-rated securities with the primary objective of achieving competitive low risk interest rate return, while minimizing the potential risk of principal loss. Fair values were determined for each individual security based on observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the securities. The difference between the carrying amount and fair value of these securities was not material.</font> </p> <p style="margin:0pt 0pt 12pt;text-indent:18pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Nonrecurring fair value measurements include asset retirement obligations, the estimated fair value of which is calculated as the present value of estimated cash flows related to its reclamation liabilities using Level&nbsp;3&nbsp;inputs. The significant inputs used to calculate such liabilities include estimates of costs to be incurred, the Company&#x2019;s credit adjusted discount rate, inflation rates and estimated date of reclamation.</font> </p><div /></div> </div> 47135000 57578000 188244000 218137000 789000 29845000 31228000 0 8000000 1000000 30000000 9500000 7000000 5000000 5000000 4474000 10002000 <div> <div> <p style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:bold;font-size: 10pt;"> <font style="display:inline;">NOTE&nbsp;5&#x2014;EQUITY</font> </p> <p style="margin:0pt 0pt 12pt;text-indent:18pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">As of June 30, 2019, we had 40,942,581 shares of common stock outstanding.</font> </p> <p style="margin:0pt 0pt 12pt 19.8pt;font-family:Times New Roman,Times,serif;font-weight:bold;font-size: 10pt;"> <font style="display:inline;">Stock-Based Compensation</font> </p> <p style="margin:0pt 0pt 12pt;text-indent:18pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">We have a stock-based compensation&nbsp;plan under which stock options, restricted stock, performance shares and other stock-based awards&nbsp;may&nbsp;be granted. At&nbsp;June 30, 2019,&nbsp;5.1 million shares were available under the current plan for future awards.</font> </p> <p style="margin:0pt 0pt 12pt;text-indent:18pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Total compensation costs recognized for all stock-based compensation was $1.1 million and $0.7 million for the three&nbsp;months ended June 30, 2019 and 2018, respectively.</font> </p> <p style="margin:0pt 0pt 12pt;text-indent:18pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Total compensation costs recognized for all stock-based compensation was $2.0 million and $1.2 million for the six&nbsp;months ended June 30, 2019 and 2018, respectively.</font> </p> <p style="margin:0pt 0pt 12pt;text-indent:18pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-style:italic;">Share Options&nbsp;&#x2013;&nbsp;</font><font style="display:inline;">A total of 937,424&nbsp;options for the purchase of shares of the Company&#x2019;s common stock were granted to two executives on August&nbsp;31, 2016 at a purchase price of $5.34 per share. Stock-based compensation expense totaling&nbsp;$2.1&nbsp;million was recognized during&nbsp;2017 for the accelerated vesting of these options in our IPO. The options have a&nbsp;ten-year term from the grant date. The options remain outstanding and unexercised and were not in-the-money at&nbsp;June 30, 2019.</font> </p> <p style="margin:0pt 0pt 12pt;text-indent:18pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-style:italic;">Restricted Shares&#x2014;</font><font style="display:inline;">We grant restricted stock to certain senior executives, key employees and directors. The shares vest over&nbsp;one&nbsp;to&nbsp;three&nbsp;years from the date of grant. During the vesting period, the participants have voting rights and&nbsp;may&nbsp;receive dividends, but the shares&nbsp;may&nbsp;not&nbsp;be sold, assigned, transferred, pledged or otherwise encumbered. Additionally, granted but unvested shares are forfeited upon termination of employment, unless an employee enters into another written arrangement with the Company. The fair value of the restricted shares on the date of the grant is amortized ratably over the service period. Compensation expense related to these awards totaled $1.1 million and $2.0 million for the three and six&nbsp;months ended June 30, 2019, respectively. As of&nbsp;June 30, 2019,&nbsp;there was $6.6&nbsp;million of total unrecognized compensation cost related to unvested restricted stock to be recognized over&nbsp;a weighted-average period of 1.6&nbsp;years.</font> </p> <p style="margin:0pt;text-indent:18pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">The following table summarizes restricted awards outstanding as of&nbsp;June 30, 2019,&nbsp;as well as activity during the period:</font> </p> <p style="margin:0pt;text-indent:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 80.00%;"> <tr> <td valign="bottom" style="width:68.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:11.72%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:14.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="bottom" style="width:68.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-size:8pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p> </td> <td valign="bottom" style="width:11.72%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;text-align:center;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p> </td> <td colspan="2" valign="bottom" style="width:15.38%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;text-align:center;color:#000000;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">Weighted</font></p> </td> </tr> <tr> <td valign="bottom" style="width:68.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-size:8pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:11.72%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;text-align:center;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">&nbsp;</font></p> </td> <td colspan="2" valign="bottom" style="width:15.38%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;text-align:center;color:#000000;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">Average&nbsp;Grant</font></p> </td> </tr> <tr> <td valign="bottom" style="width:68.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-size:8pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:11.72%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;text-align:center;color:#000000;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">Shares</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:14.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;text-align:center;color:#000000;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">Date&nbsp;Fair&nbsp;Value</font></p> </td> </tr> <tr> <td valign="bottom" style="width:68.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">Outstanding at December&nbsp;31,&nbsp;2018</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:11.72%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 3pt 0.05pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 966,134</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">$</font></p> </td> <td valign="bottom" style="width:14.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 3pt 0.05pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 6.99</font></p> </td> </tr> <tr> <td valign="bottom" style="width:68.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">Granted</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:11.72%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 3pt 0.05pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 867,201</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:14.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 3pt 0.05pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 5.49</font></p> </td> </tr> <tr> <td valign="bottom" style="width:68.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">Vested</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:11.72%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 3pt 0.05pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> &nbsp;&#x2014;</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:14.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 3pt 0.05pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> &nbsp;&#x2014;</font></p> </td> </tr> <tr> <td valign="bottom" style="width:68.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">Forfeited</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:11.72%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> (7,087)</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:14.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 3pt 0.05pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 6.05</font></p> </td> </tr> <tr> <td valign="bottom" style="width:68.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">Outstanding at June&nbsp;30,&nbsp;2019</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:11.72%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 3pt 0.05pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 1,826,248</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">$</font></p> </td> <td valign="bottom" style="width:14.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 3pt 0.05pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 6.28</font></p> </td> </tr> </table></div> <p style="margin:0pt;text-indent:36pt;font-family:Times New Roman,Times,serif;font-size: 1pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font> </p><div /></div> </div> 14144000 5213000 -22278000 -19737000 8111000 13114000 15470000 15470000 15470000 15470000 15470000 10204000 10204000 17496000 17496000 17496000 17496000 17496000 10613000 10613000 <div> <div> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-style:italic;">Recent Accounting Pronouncements</font><font style="display:inline;">&#x2014;In&nbsp;February&nbsp;2016,&nbsp;the FASB issued ASU&nbsp;2016&#8209;02,</font><font style="display:inline;font-family:&quot;font-style:italic;">&nbsp;Leases</font><font style="display:inline;">, which aims to make leasing activities more transparent and comparable and requires substantially all leases be recognized by lessees on their balance sheet as a right-of-use asset and corresponding lease liability, including leases currently accounted for as operating leases. Leases of mineral reserves and related land leases have been exempted from the standard. We adopted ASU&nbsp;2016&#8209;02,&nbsp;</font><font style="display:inline;font-style:italic;">Leases,</font><font style="display:inline;"> on January&nbsp;1, 2019. The Company elected the &#x201C;package of practical expedients&#x201D; within the standard which permits the Company not to reassess its prior conclusions about lease identification, lease classification and initial direct costs. The Company made an accounting policy election to not separate lease and non-lease components for all leases. The adoption of this standard resulted in the recognition of right-of-use assets and lease liabilities of $0.3 million, which were not previously recorded on the Company&#x2019;s balance sheet.</font> </p><div /></div> </div> 16267000 10647000 21138000 12889000 300000 300000 975000 994000 287000 155000 1002000 513000 492000 194000 -5200000 429000 27478000 19737000 0.01 0.01 50000000 50000000 0 0 0 0 3154000 1604000 13000000 44300000 3000000 <div> <div> <p style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:bold;font-size: 10pt;"> <font style="display:inline;">NOTE&nbsp;3&#x2014;PROPERTY, PLANT AND EQUIPMENT</font> </p> <p style="margin:0pt;text-indent:18pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">The Company&#x2019;s property, plant and equipment consist of the following:</font> </p> <p style="margin:0pt;text-indent:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 80.42%;"> <tr> <td valign="bottom" style="width:67.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:10.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:14.70%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:00.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="bottom" style="width:67.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-style:italic;color:#000000;font-size:8pt;">(In thousands)</font></p> </td> <td valign="bottom" style="width:02.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p> </td> <td colspan="2" valign="bottom" style="width:11.92%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;text-align:center;color:#000000;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">June&nbsp;30,&nbsp;2019</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p> </td> <td colspan="2" valign="bottom" style="width:16.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;text-align:center;color:#000000;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">December&nbsp;31,&nbsp;2018</font></p> </td> <td valign="bottom" style="width:00.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="bottom" style="width:67.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">Plant and equipment </font></p> </td> <td valign="bottom" style="width:02.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">$</font></p> </td> <td valign="bottom" style="width:10.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 3pt 0.05pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 130,218</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">$</font></p> </td> <td valign="bottom" style="width:14.70%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 3pt 0.05pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 109,911</font></p> </td> <td valign="bottom" style="width:00.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="bottom" style="width:67.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">Construction in process</font></p> </td> <td valign="bottom" style="width:02.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:10.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 3pt 0.05pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 10,252</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:14.70%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 3pt 0.05pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 12,066</font></p> </td> <td valign="bottom" style="width:00.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="bottom" style="width:67.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">Capitalized mine development cost</font></p> </td> <td valign="bottom" style="width:02.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:10.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 3pt 0.05pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 48,413</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:14.70%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 3pt 0.05pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 43,037</font></p> </td> <td valign="bottom" style="width:00.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="bottom" style="width:67.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">Less accumulated depreciation and amortization</font></p> </td> <td valign="bottom" style="width:02.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:10.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> (24,690)</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:14.70%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> (15,809)</font></p> </td> <td valign="bottom" style="width:00.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="bottom" style="width:67.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt 6pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">Total property, plant and equipment, net</font></p> </td> <td valign="bottom" style="width:02.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">$</font></p> </td> <td valign="bottom" style="width:10.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 3pt 0.05pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 164,193</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">$</font></p> </td> <td valign="bottom" style="width:14.70%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 3pt 0.05pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 149,205</font></p> </td> <td valign="bottom" style="width:00.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> </table></div> <p style="margin:0pt;text-indent:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt 0pt 12pt;text-indent:18pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">During the three&nbsp;months ended June 30, 2019, depreciation expense related to our plant and equipment totaled $3.4 million and amortization of our capitalized development costs totaled $1.4 million. During the three&nbsp;months ended June 30, 2018, depreciation expense related to our plant and equipment totaled $2.3 million and amortization of our capitalized development costs totaled $0.6 million.</font> </p> <p style="margin:0pt 0pt 12pt;text-indent:18pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">During the six&nbsp;months ended June 30, 2019, depreciation expense related to our plant and equipment totaled $6.4 million and amortization of our capitalized development costs totaled $2.5 million. During the six&nbsp;months ended June 30, 2018, depreciation expense related to our plant and equipment totaled $4.4 million and amortization of our capitalized development costs totaled $1.0 million.</font> </p> <p style="margin:0pt;text-indent:18pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <a name="_Hlk14860646"></a><font style="display:inline;">Capitalized amounts related to coal reserves at properties where we are&nbsp;not&nbsp;currently engaged in mining operations totaled&nbsp;$7.2&nbsp;million&nbsp;as of&nbsp;June 30, 2019&nbsp;and&nbsp;$5.5&nbsp;million as of&nbsp;December&nbsp;31,&nbsp;2018.</font> </p><div /></div> </div> 109911000 12066000 43037000 130218000 10252000 48413000 149205000 149205000 164193000 164193000 <div> <div> <div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 80.42%;"> <tr> <td valign="bottom" style="width:67.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:10.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:14.70%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:00.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="bottom" style="width:67.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-style:italic;color:#000000;font-size:8pt;">(In thousands)</font></p> </td> <td valign="bottom" style="width:02.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p> </td> <td colspan="2" valign="bottom" style="width:11.92%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;text-align:center;color:#000000;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">June&nbsp;30,&nbsp;2019</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p> </td> <td colspan="2" valign="bottom" style="width:16.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;text-align:center;color:#000000;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">December&nbsp;31,&nbsp;2018</font></p> </td> <td valign="bottom" style="width:00.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="bottom" style="width:67.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">Plant and equipment </font></p> </td> <td valign="bottom" style="width:02.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">$</font></p> </td> <td valign="bottom" style="width:10.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 3pt 0.05pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 130,218</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">$</font></p> </td> <td valign="bottom" style="width:14.70%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 3pt 0.05pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 109,911</font></p> </td> <td valign="bottom" style="width:00.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="bottom" style="width:67.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">Construction in process</font></p> </td> <td valign="bottom" style="width:02.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:10.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 3pt 0.05pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 10,252</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:14.70%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 3pt 0.05pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 12,066</font></p> </td> <td valign="bottom" style="width:00.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="bottom" style="width:67.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">Capitalized mine development cost</font></p> </td> <td valign="bottom" style="width:02.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:10.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 3pt 0.05pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 48,413</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:14.70%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 3pt 0.05pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 43,037</font></p> </td> <td valign="bottom" style="width:00.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="bottom" style="width:67.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">Less accumulated depreciation and amortization</font></p> </td> <td valign="bottom" style="width:02.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:10.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> (24,690)</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:14.70%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> (15,809)</font></p> </td> <td valign="bottom" style="width:00.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="bottom" style="width:67.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt 6pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">Total property, plant and equipment, net</font></p> </td> <td valign="bottom" style="width:02.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">$</font></p> </td> <td valign="bottom" style="width:10.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 3pt 0.05pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 164,193</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">$</font></p> </td> <td valign="bottom" style="width:14.70%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 3pt 0.05pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 149,205</font></p> </td> <td valign="bottom" style="width:00.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> </table></div> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p><div /></div> </div> 2300000 12800000 <div> <div> <p style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:bold;font-size: 10pt;"> <font style="display:inline;">NOTE&nbsp;10&#x2014;RELATED PARTY TRANSACTIONS</font> </p> <p style="margin:0pt 0pt 12pt 19.8pt;font-family:Times New Roman,Times,serif;font-weight:bold;font-size: 10pt;"> <font style="display:inline;">Mineral Lease and Surface Rights Agreements</font> </p> <p style="margin:0pt 0pt 12pt;text-indent:18pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Much of the coal reserves and surface rights that we control were acquired through a series of mineral leases and surface rights agreements with Ramaco Coal, LLC, a related party. Payments of minimum royalties and throughput payments commenced in&nbsp;2017&nbsp;pursuant to the terms of the agreements. Under these agreements, minimum royalties are paid in arrears each&nbsp;month to the extent that the earned production royalties for such&nbsp;month are less than the required minimums. Amounts due to Ramaco Coal, LLC of $0.8 million and $2.9 million at June 30, 2019 and December&nbsp;31, 2018, respectively, are included in Accounts Payable</font><font style="display:inline;font-style:italic;">&nbsp;</font><font style="display:inline;">in the condensed consolidated balance sheet and represent production royalty payables.</font> </p> <p style="margin:0pt 0pt 12pt 19.8pt;font-family:Times New Roman,Times,serif;font-weight:bold;font-size: 10pt;"> <font style="display:inline;">On-going Administrative Services</font> </p> <p style="margin:0pt 0pt 12pt;text-indent:18pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Under&nbsp;a Mutual Services Agreement dated&nbsp;December&nbsp;22, 2017&nbsp;but effective as of&nbsp;March&nbsp;31, 2018,&nbsp;the Company and Ramaco Coal, LLC agreed to share the services of certain party&#x2019;s employees. Each party will pay the other a fee on a quarterly basis for such services calculated as the annual base salary of each employee providing services multiplied by the&nbsp;percentage of time each employee spent providing services for the other party. The services will be provided for&nbsp;12&#8209;month terms, but&nbsp;may&nbsp;be terminated by either party at the end of any&nbsp;12&#8209;month term by providing written notice at least&nbsp;30&nbsp;days prior to the end of the then-current term.&nbsp;During the six months ended June 30, 2019, the Company billed $4,000 to Ramaco Coal, LLC for use of services.&nbsp; </font> </p><div /></div> </div> 1000000 38800000 -10218000 7278000 121221000 121221000 60074000 61147000 65278000 65278000 34376000 30902000 123221000 123221000 76116000 47105000 65761000 65761000 39544000 26217000 <div> <div> <p style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:bold;font-size: 10pt;"> <font style="display:inline;">NOTE&nbsp;7&#x2014;REVENUES</font> </p> <p style="margin:0pt;text-indent:18pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Our revenues are derived from contracts for the sale of coal which is recognized at the point in time control is transferred to our customer. Generally, domestic sales contracts have terms of about one&nbsp;year and the pricing is typically fixed. Export sales have spot or term contracts and pricing can either be by fixed-price or a price derived against index-based pricing mechanisms. Disaggregated information about our revenues is presented below:</font> </p> <p style="margin:0pt;text-indent:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 90.84%;"> <tr> <td valign="bottom" style="width:50.68%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.82%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:08.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:02.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:09.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:02.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:08.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.82%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:08.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:00.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="bottom" style="width:50.68%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-size:8pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.82%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td colspan="5" valign="bottom" style="width:23.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;text-align:center;color:#000000;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">Three months ended June&nbsp;30,&nbsp;</font></p> </td> <td valign="bottom" style="width:02.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;text-align:center;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td colspan="5" valign="bottom" style="width:21.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;text-align:center;color:#000000;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">Six months ended June&nbsp;30,&nbsp;</font></p> </td> <td valign="bottom" style="width:00.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="bottom" style="width:50.68%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-style:italic;color:#000000;font-size:8pt;">(In thousands)</font></p> </td> <td valign="bottom" style="width:01.82%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p> </td> <td colspan="2" valign="bottom" style="width:10.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">2019</font></p> </td> <td valign="bottom" style="width:02.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p> </td> <td colspan="2" valign="bottom" style="width:10.98%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">2018</font></p> </td> <td valign="bottom" style="width:02.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;text-align:center;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td colspan="2" valign="bottom" style="width:09.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">2019</font></p> </td> <td valign="bottom" style="width:01.82%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p> </td> <td colspan="2" valign="bottom" style="width:09.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">2018</font></p> </td> <td valign="bottom" style="width:00.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="bottom" style="width:50.68%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">Coal Sales</font></p> </td> <td valign="bottom" style="width:01.82%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:08.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 3pt 0.05pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;&nbsp;</font></p> </td> <td valign="bottom" style="width:02.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:09.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 3pt 0.05pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;&nbsp;</font></p> </td> <td valign="bottom" style="width:02.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:08.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 3pt 0.05pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;&nbsp;</font></p> </td> <td valign="bottom" style="width:01.82%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:08.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 3pt 0.05pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;&nbsp;</font></p> </td> <td valign="bottom" style="width:00.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="bottom" style="width:50.68%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt 6pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">Domestic revenues</font></p> </td> <td valign="bottom" style="width:01.82%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">$</font></p> </td> <td valign="bottom" style="width:08.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 3pt 0.05pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 39,544</font></p> </td> <td valign="bottom" style="width:02.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">$</font></p> </td> <td valign="bottom" style="width:09.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 3pt 0.05pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 34,376</font></p> </td> <td valign="bottom" style="width:02.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">$</font></p> </td> <td valign="bottom" style="width:08.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 3pt 0.05pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 76,116</font></p> </td> <td valign="bottom" style="width:01.82%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">$</font></p> </td> <td valign="bottom" style="width:08.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 3pt 0.05pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 60,074</font></p> </td> <td valign="bottom" style="width:00.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="bottom" style="width:50.68%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt 6pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">Export revenues</font></p> </td> <td valign="bottom" style="width:01.82%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:08.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 3pt 0.05pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 26,217</font></p> </td> <td valign="bottom" style="width:02.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:09.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 3pt 0.05pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 30,902</font></p> </td> <td valign="bottom" style="width:02.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:08.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 3pt 0.05pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 47,105</font></p> </td> <td valign="bottom" style="width:01.82%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:08.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 3pt 0.05pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 61,147</font></p> </td> <td valign="bottom" style="width:00.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="bottom" style="width:50.68%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">Total revenues</font></p> </td> <td valign="bottom" style="width:01.82%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">$</font></p> </td> <td valign="bottom" style="width:08.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 3pt 0.05pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 65,761</font></p> </td> <td valign="bottom" style="width:02.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">$</font></p> </td> <td valign="bottom" style="width:09.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 3pt 0.05pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 65,278</font></p> </td> <td valign="bottom" style="width:02.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">$</font></p> </td> <td valign="bottom" style="width:08.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 3pt 0.05pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 123,221</font></p> </td> <td valign="bottom" style="width:01.82%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">$</font></p> </td> <td valign="bottom" style="width:08.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 3pt 0.05pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 121,221</font></p> </td> <td valign="bottom" style="width:00.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> </table></div> <p style="margin:0pt;text-indent:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p> <p style="margin:0pt;text-indent:18pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">As of&nbsp;June 30, 2019, the Company has outstanding performance obligations for the remainder of&nbsp;2019&nbsp;of&nbsp;approximately 0.8 million&nbsp;tons for contracts having fixed pricing and&nbsp;0.1 million&nbsp;tons for contracts to export customers with </font><font style="display:inline;font-family:Times New Roman,Times,serif;">index-based pricing mechanisms</font><font style="display:inline;">. Additionally, the Company has outstanding performance obligations beyond&nbsp;2019&nbsp;of approximately 0.1 million&nbsp;tons for export contracts with </font><font style="display:inline;font-family:Times New Roman,Times,serif;">index-based pricing mechanisms</font><font style="display:inline;">.</font> </p><div /></div> </div> <div> <div> <p style="margin:0pt 0pt 12pt;text-indent:18pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-style:italic;">Revenue Recognition</font><font style="display:inline;">&#x2014;Our primary source of revenue is from the sale of coal through contracts with steel and coke producers usually having durations of one&nbsp;year or less. In&nbsp;May&nbsp;2014,&nbsp;the Financial Accounting Standards Board (&#x201C;FASB&#x201D;) issued Accounting Standards Update (&#x201C;ASU&#x201D;)&nbsp;2014&#8209;09,&nbsp;</font><font style="display:inline;font-style:italic;">Revenue from&nbsp;Contracts with Customers</font><font style="display:inline;">. This new standard supersedes nearly all existing revenue recognition guidance under GAAP. The core principle of ASU&nbsp;2014&#8209;09&nbsp;is to recognize revenues in a way that depicts the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.&nbsp;We adopted ASU&nbsp;2014&#8209;09,&nbsp;</font><font style="display:inline;font-style:italic;">Revenue from&nbsp;Contracts with Customers, </font><font style="display:inline;">on January&nbsp;1, 2018 using the modified retrospective method. Before adoption of the new standard, revenue was recognized when risk of loss passed to our customer. The timing of revenue recognition for our coal sales remained consistent between the new and previous standards. There was no material impact on our consolidated financial statements from adopting the new standard but we have expanded disclosure about our revenues.</font> </p> <p style="margin:0pt 0pt 12pt;text-indent:18pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">For periods subsequent to January&nbsp;1, 2018, revenue is recognized when performance obligations under the terms of a contract with our customers are satisfied. This occurs when control of the coal is transferred to our customers. For coal shipments to domestic customers via rail or truck, control is generally transferred when the railcar or truck is loaded. Control is transferred for export coal shipments to customers via ocean vessel when the vessel is loaded at the port.</font> </p> <p style="margin:0pt 0pt 12pt;text-indent:18pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Our coal sales generally include up to 90&#8209;day payment terms following the transfer of control of the goods to our customer. In the case of some of our foreign customers, our contracts also require that letters of credit are posted to secure payment of any outstanding receivable to the Company. We do not include extended payment terms in our contracts. Our contracts with customers typically provide for minimum specifications or qualities of the coal we deliver. Variances from these specifications or qualities are settled by means of price adjustments. Generally, these price adjustments are settled within 30&nbsp;days of delivery and are insignificant.</font> </p><div /></div> </div> <div> <div> <div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 80.32%;"> <tr> <td valign="bottom" style="width:45.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.70%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:09.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:02.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:10.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:09.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:02.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:09.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:00.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="bottom" style="width:45.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-size:8pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p> </td> <td colspan="5" valign="bottom" style="width:26.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt;text-align:center;color:#000000;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">Three months ended June&nbsp;30,&nbsp;</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td colspan="5" valign="bottom" style="width:23.86%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt;text-align:center;color:#000000;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">Six months ended June&nbsp;30,&nbsp;</font></p> </td> <td valign="bottom" style="width:00.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="bottom" style="width:45.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-style:italic;color:#000000;font-size:8pt;">(In thousands, except per share amounts)</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p> </td> <td colspan="2" valign="bottom" style="width:11.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">2019</font></p> </td> <td valign="bottom" style="width:02.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p> </td> <td colspan="2" valign="bottom" style="width:12.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">2018</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p> </td> <td colspan="2" valign="bottom" style="width:10.72%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">2019</font></p> </td> <td valign="bottom" style="width:02.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p> </td> <td colspan="2" valign="bottom" style="width:10.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">2018</font></p> </td> <td valign="bottom" style="width:00.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="bottom" style="width:45.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;">Numerator</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.70%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:09.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 3pt 0pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;&nbsp;</font></p> </td> <td valign="bottom" style="width:02.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:10.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 3pt 0pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;&nbsp;</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:09.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 3pt 0pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;&nbsp;</font></p> </td> <td valign="bottom" style="width:02.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:09.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 3pt 0pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;&nbsp;</font></p> </td> <td valign="bottom" style="width:00.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="bottom" style="width:45.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">Net income </font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.70%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">$</font></p> </td> <td valign="bottom" style="width:09.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 3pt 0pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 10,613</font></p> </td> <td valign="bottom" style="width:02.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">$</font></p> </td> <td valign="bottom" style="width:10.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 3pt 0pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 10,204</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">$</font></p> </td> <td valign="bottom" style="width:09.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 3pt 0pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 17,496</font></p> </td> <td valign="bottom" style="width:02.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">$</font></p> </td> <td valign="bottom" style="width:09.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 3pt 0pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 15,470</font></p> </td> <td valign="bottom" style="width:00.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="bottom" style="width:45.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;">Denominator</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.70%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:09.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:02.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:10.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:09.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:02.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:09.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:00.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="bottom" style="width:45.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0pt 6pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">Weighted average shares used to compute basic EPS</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.70%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:09.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 3pt 0pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 40,869</font></p> </td> <td valign="bottom" style="width:02.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:10.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 3pt 0pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 40,082</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:09.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 3pt 0pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 40,737</font></p> </td> <td valign="bottom" style="width:02.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:09.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 3pt 0pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 39,994</font></p> </td> <td valign="bottom" style="width:00.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="bottom" style="width:45.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0pt 6pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">Dilutive effect of share-based awards</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.70%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:09.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 3pt 0pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 96</font></p> </td> <td valign="bottom" style="width:02.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:10.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 3pt 0pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 258</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:09.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 3pt 0pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 73</font></p> </td> <td valign="bottom" style="width:02.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:09.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 3pt 0pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 248</font></p> </td> <td valign="bottom" style="width:00.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="bottom" style="width:45.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0pt 6pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">Weighted average shares used to compute diluted EPS</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.70%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:09.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 3pt 0pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 40,965</font></p> </td> <td valign="bottom" style="width:02.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:10.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 3pt 0pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 40,340</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:09.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 3pt 0pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 40,810</font></p> </td> <td valign="bottom" style="width:02.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:09.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 3pt 0pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 40,242</font></p> </td> <td valign="bottom" style="width:00.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="bottom" style="width:45.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.70%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:09.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:02.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:10.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:09.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:02.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:09.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:00.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="bottom" style="width:45.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0pt 6pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;">Earnings per share</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.70%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:09.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:02.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:10.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:09.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:02.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:09.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:00.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="bottom" style="width:45.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0pt 6pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">Basic</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.70%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">$</font></p> </td> <td valign="bottom" style="width:09.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 3pt 0pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 0.26</font></p> </td> <td valign="bottom" style="width:02.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">$</font></p> </td> <td valign="bottom" style="width:10.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 3pt 0pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 0.25</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">$</font></p> </td> <td valign="bottom" style="width:09.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 3pt 0pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 0.43</font></p> </td> <td valign="bottom" style="width:02.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">$</font></p> </td> <td valign="bottom" style="width:09.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 3pt 0pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 0.39</font></p> </td> <td valign="bottom" style="width:00.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="bottom" style="width:45.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0pt 6pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">Diluted</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.70%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">$</font></p> </td> <td valign="bottom" style="width:09.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 3pt 0pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 0.26</font></p> </td> <td valign="bottom" style="width:02.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">$</font></p> </td> <td valign="bottom" style="width:10.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 3pt 0pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 0.25</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">$</font></p> </td> <td valign="bottom" style="width:09.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 3pt 0pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 0.43</font></p> </td> <td valign="bottom" style="width:02.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">$</font></p> </td> <td valign="bottom" style="width:09.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 3pt 0pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 0.38</font></p> </td> <td valign="bottom" style="width:00.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> </tr> </table></div> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p><div /></div> </div> <div> <div> <div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 80.00%;"> <tr> <td valign="bottom" style="width:68.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> <font style="display:inline;font-size:1pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:11.72%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:14.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="bottom" style="width:68.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-size:8pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p> </td> <td valign="bottom" style="width:11.72%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;text-align:center;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p> </td> <td colspan="2" valign="bottom" style="width:15.38%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;text-align:center;color:#000000;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">Weighted</font></p> </td> </tr> <tr> <td valign="bottom" style="width:68.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-size:8pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:11.72%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;text-align:center;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">&nbsp;</font></p> </td> <td colspan="2" valign="bottom" style="width:15.38%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;text-align:center;color:#000000;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">Average&nbsp;Grant</font></p> </td> </tr> <tr> <td valign="bottom" style="width:68.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-size:8pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:11.72%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;text-align:center;color:#000000;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">Shares</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">&nbsp;</font></p> </td> <td valign="bottom" style="width:01.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:14.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;text-align:center;color:#000000;font-family:Times New Roman,Times,serif;font-size: 8pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">Date&nbsp;Fair&nbsp;Value</font></p> </td> </tr> <tr> <td valign="bottom" style="width:68.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">Outstanding at December&nbsp;31,&nbsp;2018</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:11.72%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 3pt 0.05pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 966,134</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">$</font></p> </td> <td valign="bottom" style="width:14.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 3pt 0.05pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 6.99</font></p> </td> </tr> <tr> <td valign="bottom" style="width:68.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">Granted</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:11.72%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 3pt 0.05pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 867,201</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:14.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 3pt 0.05pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 5.49</font></p> </td> </tr> <tr> <td valign="bottom" style="width:68.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">Vested</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:11.72%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 3pt 0.05pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> &nbsp;&#x2014;</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:14.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 3pt 0.05pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> &nbsp;&#x2014;</font></p> </td> </tr> <tr> <td valign="bottom" style="width:68.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">Forfeited</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:11.72%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> (7,087)</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:14.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> <p style="margin:0pt 3pt 0.05pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 6.05</font></p> </td> </tr> <tr> <td valign="bottom" style="width:68.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">Outstanding at June&nbsp;30,&nbsp;2019</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font></p> </td> <td valign="bottom" style="width:11.72%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 3pt 0.05pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 1,826,248</font></p> </td> <td valign="bottom" style="width:02.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:01.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 0pt 0.05pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">$</font></p> </td> <td valign="bottom" style="width:14.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> <p style="margin:0pt 3pt 0.05pt 0pt;text-align:right;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> 6.28</font></p> </td> </tr> </table></div> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">&nbsp;</font> </p><div /></div> </div> 7123000 3692000 8664000 4703000 1245000 1954000 P3Y P1Y 7087 6.05 867201 5.49 966134 1826248 6.99 6.28 P10Y 937424 5100000 5.34 <div> <div> <p style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:bold;font-size: 10pt;"> <font style="display:inline;">NOTE&nbsp;2&#x2014;SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</font> </p> <p style="margin:0pt 0pt 12pt;text-indent:18pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-style:italic;">Basis of Presentation</font><font style="display:inline;">&#x2014;These interim financial statements are unaudited and have been prepared pursuant to the rules&nbsp;and regulations of the Securities and Exchange Commission (&#x201C;SEC&#x201D;) regarding interim financial reporting. Certain disclosures have been condensed or omitted from these financial statements. Accordingly, they do not include all the information and notes required by accounting principles generally accepted in the United States of America (&#x201C;GAAP&#x201D;) for complete consolidated financial statements, and should be read in conjunction with the audited consolidated financial statements and notes thereto included in our Annual Report on Form&nbsp;10&#8209;K for the&nbsp;year ended December&nbsp;31, 2018.</font> </p> <p style="margin:0pt 0pt 12pt;text-indent:18pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">In the opinion of management, the accompanying unaudited condensed consolidated financial statements include all adjustments, consisting of normal recurring adjustments, necessary to fairly present the financial position as of, and the results of operations for, all periods presented. In preparing the accompanying financial statements, management has made certain estimates and assumptions that affect reported amounts in the condensed consolidated financial statements and disclosures of contingencies. Actual results may differ from those estimates. The results for interim periods are not necessarily indicative of annual results. Certain reclassifications have been made to the prior period&#x2019;s consolidated financial statements and related footnotes to conform them to the current period presentation.</font> </p> <p style="margin:0pt 0pt 12pt;text-indent:18pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-style:italic;">Revenue Recognition</font><font style="display:inline;">&#x2014;Our primary source of revenue is from the sale of coal through contracts with steel and coke producers usually having durations of one&nbsp;year or less. In&nbsp;May&nbsp;2014,&nbsp;the Financial Accounting Standards Board (&#x201C;FASB&#x201D;) issued Accounting Standards Update (&#x201C;ASU&#x201D;)&nbsp;2014&#8209;09,&nbsp;</font><font style="display:inline;font-style:italic;">Revenue from&nbsp;Contracts with Customers</font><font style="display:inline;">. This new standard supersedes nearly all existing revenue recognition guidance under GAAP. The core principle of ASU&nbsp;2014&#8209;09&nbsp;is to recognize revenues in a way that depicts the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.&nbsp;We adopted ASU&nbsp;2014&#8209;09,&nbsp;</font><font style="display:inline;font-style:italic;">Revenue from&nbsp;Contracts with Customers, </font><font style="display:inline;">on January&nbsp;1, 2018 using the modified retrospective method. Before adoption of the new standard, revenue was recognized when risk of loss passed to our customer. The timing of revenue recognition for our coal sales remained consistent between the new and previous standards. There was no material impact on our consolidated financial statements from adopting the new standard but we have expanded disclosure about our revenues.</font> </p> <p style="margin:0pt 0pt 12pt;text-indent:18pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">For periods subsequent to January&nbsp;1, 2018, revenue is recognized when performance obligations under the terms of a contract with our customers are satisfied. This occurs when control of the coal is transferred to our customers. For coal shipments to domestic customers via rail or truck, control is generally transferred when the railcar or truck is loaded. Control is transferred for export coal shipments to customers via ocean vessel when the vessel is loaded at the port.</font> </p> <p style="margin:0pt 0pt 12pt;text-indent:18pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Our coal sales generally include up to 90&#8209;day payment terms following the transfer of control of the goods to our customer. In the case of some of our foreign customers, our contracts also require that letters of credit are posted to secure payment of any outstanding receivable to the Company. We do not include extended payment terms in our contracts. Our contracts with customers typically provide for minimum specifications or qualities of the coal we deliver. Variances from these specifications or qualities are settled by means of price adjustments. Generally, these price adjustments are settled within 30&nbsp;days of delivery and are insignificant.</font> </p> <p style="margin:0pt 0pt 12pt;text-indent:18pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-family:Times New Roman,Times,serif;font-style:italic;">Earnings per Share</font><font style="display:inline;font-family:Times New Roman,Times,serif;">&#x2014;</font><font style="display:inline;">Basic earnings per share is calculated using our weighted-average outstanding common shares. Diluted earnings per share is calculated using our weighted-average outstanding common shares including the dilutive effect of stock option awards as determined under the treasury stock method.</font> </p> <p style="margin:0pt 0pt 12pt;text-indent:18pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-style:italic;">Financial Instruments</font><font style="display:inline;">&#x2014;Our financial assets and liabilities consist of cash, accounts receivable, accounts payable and notes payable. The fair values of these instruments approximate their carrying amounts at each reporting date.</font> </p> <p style="margin:0pt 0pt 12pt;text-indent:18pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">We invested excess cash amounts before its planned expenditure for capital projects in highly-rated securities with the primary objective of achieving competitive low risk interest rate return, while minimizing the potential risk of principal loss. Fair values were determined for each individual security based on observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the securities. The difference between the carrying amount and fair value of these securities was not material.</font> </p> <p style="margin:0pt 0pt 12pt;text-indent:18pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;">Nonrecurring fair value measurements include asset retirement obligations, the estimated fair value of which is calculated as the present value of estimated cash flows related to its reclamation liabilities using Level&nbsp;3&nbsp;inputs. The significant inputs used to calculate such liabilities include estimates of costs to be incurred, the Company&#x2019;s credit adjusted discount rate, inflation rates and estimated date of reclamation.</font> </p> <p style="margin:0pt 0pt 12pt;text-indent:18pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-style:italic;">Concentrations&#x2014;</font><font style="display:inline;">During the three and six&nbsp;months ended June 30, 2019, sales to four customers accounted for approximately 55% of total revenue in each period. The total balance due from these four customers at June 30, 2019 was approximately 69% of total accounts receivable. During the three and six&nbsp;months ended June 30, 2018 sales to three customers accounted for approximately 79% and 75% of total revenue, respectively.</font> </p> <p style="margin:0pt;text-indent:18pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-style:italic;">Recent Accounting Pronouncements</font><font style="display:inline;">&#x2014;In&nbsp;February&nbsp;2016,&nbsp;the FASB issued ASU&nbsp;2016&#8209;02,</font><font style="display:inline;font-family:&quot;font-style:italic;">&nbsp;Leases</font><font style="display:inline;">, which aims to make leasing activities more transparent and comparable and requires substantially all leases be recognized by lessees on their balance sheet as a right-of-use asset and corresponding lease liability, including leases currently accounted for as operating leases. Leases of mineral reserves and related land leases have been exempted from the standard. We adopted ASU&nbsp;2016&#8209;02,&nbsp;</font><font style="display:inline;font-style:italic;">Leases,</font><font style="display:inline;"> on January&nbsp;1, 2019. The Company elected the &#x201C;package of practical expedients&#x201D; within the standard which permits the Company not to reassess its prior conclusions about lease identification, lease classification and initial direct costs. The Company made an accounting policy election to not separate lease and non-lease components for all leases. The adoption of this standard resulted in the recognition of right-of-use assets and lease liabilities of $0.3 million, which were not previously recorded on the Company&#x2019;s balance sheet.</font> </p><div /></div> </div> 113397000 148293000 396000 -35292000 130112000 149533000 401000 -19822000 141109000 141109000 150926000 401000 -10218000 160559000 160559000 152872000 409000 7278000 40242 40242 40340 40340 40810 40810 40965 40965 39994 39994 40082 40082 40737 40737 40869 40869 EX-101.SCH 8 metc-20190630.xsd EX-101.SCH 00100 - Statement - Unaudited Condensed Consolidated Balance Sheets link:presentationLink link:calculationLink link:definitionLink 00200 - Statement - Unaudited Condensed Consolidated Statements of Operations link:presentationLink link:calculationLink link:definitionLink 00400 - Statement - Unaudited Condensed Consolidated Statements of Cash Flows link:presentationLink link:calculationLink link:definitionLink 40901 - Disclosure - Note 9 - Earnings Per Share - Computation of Basic and Diluted Earnings per Share (Details) link:presentationLink link:calculationLink link:definitionLink 00090 - Document - Document And Entity Information link:presentationLink link:calculationLink link:definitionLink 00105 - Statement - Unaudited Condensed Consolidated Balance Sheets (Parentheticals) link:presentationLink link:calculationLink link:definitionLink 00300 - Statement - Unaudited Condensed Consolidated Statements of Stockholders' Equity link:presentationLink link:calculationLink link:definitionLink 10101 - Disclosure - Note 1 - Description of Business link:presentationLink link:calculationLink link:definitionLink 10201 - Disclosure - Note 2 - Summary of Significant Accounting Policies link:presentationLink link:calculationLink link:definitionLink 10301 - Disclosure - Note 3 - Property, Plant and Equipment link:presentationLink link:calculationLink link:definitionLink 10401 - Disclosure - Note 4 - Debt link:presentationLink link:calculationLink link:definitionLink 10501 - Disclosure - Note 5 - Equity link:presentationLink link:calculationLink link:definitionLink 10601 - Disclosure - Note 6 - Commitments and Contingencies link:presentationLink link:calculationLink link:definitionLink 10701 - Disclosure - Note 7 - Revenues link:presentationLink link:calculationLink link:definitionLink 10801 - Disclosure - Note 8 - Income Taxes link:presentationLink link:calculationLink link:definitionLink 10901 - Disclosure - Note 9 - Earnings Per Share link:presentationLink link:calculationLink link:definitionLink 11001 - Disclosure - Note 10 - Related Party Transactions link:presentationLink link:calculationLink link:definitionLink 20202 - Disclosure - Significant Accounting Policies (Policies) link:presentationLink link:calculationLink link:definitionLink 30303 - Disclosure - Note 3 - Property, Plant and Equipment (Tables) link:presentationLink link:calculationLink link:definitionLink 30503 - Disclosure - Note 5 - Equity (Tables) link:presentationLink link:calculationLink link:definitionLink 30703 - Disclosure - Note 7 - Revenues (Tables) link:presentationLink link:calculationLink link:definitionLink 30903 - Disclosure - Note 9 - Earnings Per Share (Tables) link:presentationLink link:calculationLink link:definitionLink 40201 - Disclosure - Note 2 - Summary of Significant Accounting Policies - Concentrations (Details) link:presentationLink link:calculationLink link:definitionLink 40202 - Disclosure - Note 2 - Summary of Significant Accounting Policies (Details) link:presentationLink link:calculationLink link:definitionLink 40301 - Disclosure - Note 3 - Property, Plant and Equipment - Schedule of Property, Plant and Equipment (Details) link:presentationLink link:calculationLink link:definitionLink 40302 - Disclosure - Note 3 - Property, Plant and Equipment (Details) link:presentationLink link:calculationLink link:definitionLink 40401 - Disclosure - Note 4 - Debt (Details) link:presentationLink link:calculationLink link:definitionLink 40501 - Disclosure - Note 5 - Equity (Details) link:presentationLink link:calculationLink link:definitionLink 40502 - Disclosure - Note 5 - Equity - Summary of Restricted Awards Activity (Details) link:presentationLink link:calculationLink link:definitionLink 40601 - Disclosure - Note 6 - Commitments and Contingencies (Details) link:presentationLink link:calculationLink link:definitionLink 40701 - Disclosure - Note 7 - Revenue - Domestic Revenues an Export Revenues (Details) link:presentationLink link:calculationLink link:definitionLink 40702 - Disclosure - Note 7 - Revenues (Details) link:presentationLink link:calculationLink link:definitionLink 40702 - Disclosure - Note 7 - Revenues Default (Details) link:presentationLink link:calculationLink link:definitionLink 40801 - Disclosure - Note 8 - Income Taxes (Details) link:presentationLink link:calculationLink link:definitionLink 41001 - Disclosure - Note 10 - Related Party Transactions (Details) link:presentationLink link:calculationLink link:definitionLink EX-101.CAL 9 metc-20190630_cal.xml EX-101.CAL EX-101.DEF 10 metc-20190630_def.xml EX-101.DEF EX-101.LAB 11 metc-20190630_lab.xml EX-101.LAB EX-101.PRE 12 metc-20190630_pre.xml EX-101.PRE XML 13 R1.htm IDEA: XBRL DOCUMENT v3.19.2
Document And Entity Information - shares
6 Months Ended
Jun. 30, 2019
Aug. 03, 2019
Cover [Abstract]    
Entity Registrant Name Ramaco Resources, Inc.  
Entity Central Index Key 0001687187  
Current Fiscal Year End Date --12-31  
Entity Filer Category Non-accelerated Filer  
Entity Current Reporting Status Yes  
Entity Emerging Growth Company true  
Entity Ex Transition Period true  
Entity Small Business true  
Entity Common Stock, Shares Outstanding (in shares)   40,942,581
Entity Interactive Data Current Yes  
Document Type 10-Q  
Document Period End Date Jun. 30, 2019  
Document Fiscal Year Focus 2019  
Document Fiscal Period Focus Q2  
Amendment Flag false  
Entity Shell Company false  
XML 14 R2.htm IDEA: XBRL DOCUMENT v3.19.2
Unaudited Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2019
Dec. 31, 2018
Current assets    
Cash and cash equivalents $ 5,541 $ 6,951
Accounts receivable 26,099 10,729
Inventories 16,593 14,185
Prepaid expenses 1,604 3,154
Total current assets 49,837 35,019
Property, plant and equipment, net 164,193 149,205
Advanced coal royalties 3,113 3,045
Other assets 994 975
Total Assets 218,137 188,244
Current liabilities    
Accounts payable 16,325 16,393
Accrued expenses 9,390 8,094
Asset retirement obligations 513 71
Current portion of long-term debt 5,000 5,000
Other liabilities   287
Total current liabilities 31,228 29,845
Asset retirement obligations 12,656 12,707
Long-term debt, net 10,002 4,474
Deferred tax liability 3,537 109
Other long-term liabilities 155  
Total liabilities 57,578 47,135
Commitments and contingencies
Stockholders' Equity    
Common stock, $0.01 par value, 260,000,000 shares authorized, 40,942,581 and 40,082,467 shares issued and outstanding, respectively 409 401
Additional paid-in capital 152,872 150,926
Retained earnings (deficit) 7,278 (10,218)
Total stockholders' equity 160,559 141,109
Total Liabilities and Stockholders' Equity $ 218,137 $ 188,244
XML 15 R3.htm IDEA: XBRL DOCUMENT v3.19.2
Unaudited Condensed Consolidated Balance Sheets (Parentheticals) - $ / shares
Jun. 30, 2019
Dec. 31, 2018
Statement of Financial Position [Abstract]    
Preferred stock, par value (in dollars per share) $ 0.01 $ 0.01
Preferred stock, shares authorized (in shares) 50,000,000 50,000,000
Preferred stock, shares outstanding (in shares) 0 0
Preferred stock, shares Issued (in shares) 0 0
Common stock, par value (in dollars per share) $ 0.01 $ 0.01
Common stock, shares authorized (in shares) 260,000,000  
Common stock, shares issued (in shares) 40,942,581 40,082,467
Common stock, shares outstanding (in shares) 40,942,581 40,082,467
XML 16 R4.htm IDEA: XBRL DOCUMENT v3.19.2
Unaudited Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Income Statement [Abstract]        
Revenues $ 65,761 $ 65,278 $ 123,221 $ 121,221
Cost and expenses        
Cost of sales (exclusive of items shown separately below) 43,219 47,860 84,225 92,191
Asset retirement obligation accretion 128 124 256 247
Depreciation and amortization 4,822 2,955 8,938 5,393
Selling, general and administrative 4,703 3,692 8,664 7,123
Total cost and expenses 52,872 54,631 102,083 104,954
Operating income 12,889 10,647 21,138 16,267
Other income 194 513 492 1,002
Interest expense, net (302) (314) (609) (414)
Income before taxes 12,781 10,846 21,021 16,855
Income tax expense 2,168 642 3,525 1,385
Net income $ 10,613 $ 10,204 $ 17,496 $ 15,470
Earnings Per Share        
Basic earnings (in dollars per share) $ 0.26 $ 0.25 $ 0.43 $ 0.39
Diluted earnings (in dollars per share) $ 0.26 $ 0.25 $ 0.43 $ 0.38
Weighted average common shares outstanding        
Basic weighted average shares outstanding (in shares) 40,869 40,082 40,737 39,994
Diluted weighted average shares outstanding (in shares) 40,965 40,340 40,810 40,242
XML 17 R5.htm IDEA: XBRL DOCUMENT v3.19.2
Unaudited Condensed Consolidated Statements of Stockholders' Equity - USD ($)
$ in Thousands
Common Stock
Additional Paid-in Capital.
Retained Earnings
Total
Balance at Dec. 31, 2017 $ 396 $ 148,293 $ (35,292) $ 113,397
Equity-based compensation 5 1,240   1,245
Net income     15,470 15,470
Balance at Jun. 30, 2018 401 149,533 (19,822) 130,112
Balance at Dec. 31, 2018 401 150,926 (10,218) 141,109
Equity-based compensation 8 1,946   1,954
Net income     17,496 17,496
Balance at Jun. 30, 2019 $ 409 $ 152,872 $ 7,278 $ 160,559
XML 18 R6.htm IDEA: XBRL DOCUMENT v3.19.2
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities    
Net income $ 17,496 $ 15,470
Adjustments to reconcile net income (loss) to net cash from operating activities:    
Accretion of asset retirement obligations 256 247
Depreciation and amortization 8,938 5,393
Amortization of debt issuance costs 28 187
Equity-based compensation. 1,954 1,245
Deferred income tax expense 3,429 1,385
Changes in operating assets and liabilities    
Accounts receivable (15,370) (21,100)
Prepaid expenses 1,550 (977)
Inventories (2,408) (1,237)
Advance coal royalties (68) 82
Other assets 135 (206)
Accounts payable (4,121) 1,340
Accrued expenses 1,295 6,282
Net cash from operating activities 13,114 8,111
Cash flow from investing activities    
Purchases of property, plant and equipment (19,737) (27,478)
Proceeds from maturities of investment securities   5,200
Net cash from investing activities (19,737) (22,278)
Cash flows from financing activities    
Proceeds from borrowings 44,300 13,000
Proceeds from notes payable - related party   3,000
Payment of debt issuance costs   (429)
Repayments of borrowings (38,800) (1,000)
Repayments of financed insurance payable (287) (427)
Net cash from financing activities 5,213 14,144
Net change in cash and cash equivalents (1,410) (23)
Cash and cash equivalents, beginning of period 6,951 5,934
Cash and cash equivalents, end of period 5,541 5,911
Supplemental cash flow information    
Cash paid for interest 568 340
Non-cash investing and financing activities    
Capital expenditures included in accounts payable and accrued liabilities 5,373 2,128
Financed insurance   789
Additional asset retirement obligations acquired or incurred $ 137 $ 127
XML 19 R7.htm IDEA: XBRL DOCUMENT v3.19.2
Note 1 - Description of Business
6 Months Ended
Jun. 30, 2019
Notes to Financial Statements  
DESCRIPTION OF BUSINESS

Ramaco Resources, Inc.

Notes to Unaudited Condensed Consolidated Financial Statements

NOTE 1—DESCRIPTION OF BUSINESS

Ramaco Resources, Inc. is a Delaware corporation formed in October 2016. Our principal corporate offices are located in Lexington, Kentucky. Through our wholly-owned subsidiary, Ramaco Development, LLC, we are an operator and developer of high-quality, low-cost metallurgical coal in southern West Virginia, southwestern Virginia, and southwestern Pennsylvania.

Pursuant to the terms of a corporate reorganization (“Reorganization”) that was completed in connection with the closing of our initial public offering (“IPO”) on February 8, 2017, all the interests in Ramaco Development, LLC were exchanged for our newly issued common shares and as a result, Ramaco Development, LLC became our wholly-owned subsidiary. The terms “the Company,” “we,” “us,” “our,” and similar terms when used in the present tense, prospectively or for periods since our Reorganization, refer to Ramaco Resources, Inc. and its subsidiaries, and for historical periods prior to our Reorganization refer to Ramaco Development LLC and its subsidiaries. Intercompany balances and transactions between consolidated entities are eliminated.

XML 20 R8.htm IDEA: XBRL DOCUMENT v3.19.2
Note 2 - Summary of Significant Accounting Policies
6 Months Ended
Jun. 30, 2019
Notes to Financial Statements  
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 2—SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation—These interim financial statements are unaudited and have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. Certain disclosures have been condensed or omitted from these financial statements. Accordingly, they do not include all the information and notes required by accounting principles generally accepted in the United States of America (“GAAP”) for complete consolidated financial statements, and should be read in conjunction with the audited consolidated financial statements and notes thereto included in our Annual Report on Form 10‑K for the year ended December 31, 2018.

In the opinion of management, the accompanying unaudited condensed consolidated financial statements include all adjustments, consisting of normal recurring adjustments, necessary to fairly present the financial position as of, and the results of operations for, all periods presented. In preparing the accompanying financial statements, management has made certain estimates and assumptions that affect reported amounts in the condensed consolidated financial statements and disclosures of contingencies. Actual results may differ from those estimates. The results for interim periods are not necessarily indicative of annual results. Certain reclassifications have been made to the prior period’s consolidated financial statements and related footnotes to conform them to the current period presentation.

Revenue Recognition—Our primary source of revenue is from the sale of coal through contracts with steel and coke producers usually having durations of one year or less. In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014‑09, Revenue from Contracts with Customers. This new standard supersedes nearly all existing revenue recognition guidance under GAAP. The core principle of ASU 2014‑09 is to recognize revenues in a way that depicts the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. We adopted ASU 2014‑09, Revenue from Contracts with Customers, on January 1, 2018 using the modified retrospective method. Before adoption of the new standard, revenue was recognized when risk of loss passed to our customer. The timing of revenue recognition for our coal sales remained consistent between the new and previous standards. There was no material impact on our consolidated financial statements from adopting the new standard but we have expanded disclosure about our revenues.

For periods subsequent to January 1, 2018, revenue is recognized when performance obligations under the terms of a contract with our customers are satisfied. This occurs when control of the coal is transferred to our customers. For coal shipments to domestic customers via rail or truck, control is generally transferred when the railcar or truck is loaded. Control is transferred for export coal shipments to customers via ocean vessel when the vessel is loaded at the port.

Our coal sales generally include up to 90‑day payment terms following the transfer of control of the goods to our customer. In the case of some of our foreign customers, our contracts also require that letters of credit are posted to secure payment of any outstanding receivable to the Company. We do not include extended payment terms in our contracts. Our contracts with customers typically provide for minimum specifications or qualities of the coal we deliver. Variances from these specifications or qualities are settled by means of price adjustments. Generally, these price adjustments are settled within 30 days of delivery and are insignificant.

Earnings per ShareBasic earnings per share is calculated using our weighted-average outstanding common shares. Diluted earnings per share is calculated using our weighted-average outstanding common shares including the dilutive effect of stock option awards as determined under the treasury stock method.

Financial Instruments—Our financial assets and liabilities consist of cash, accounts receivable, accounts payable and notes payable. The fair values of these instruments approximate their carrying amounts at each reporting date.

We invested excess cash amounts before its planned expenditure for capital projects in highly-rated securities with the primary objective of achieving competitive low risk interest rate return, while minimizing the potential risk of principal loss. Fair values were determined for each individual security based on observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the securities. The difference between the carrying amount and fair value of these securities was not material.

Nonrecurring fair value measurements include asset retirement obligations, the estimated fair value of which is calculated as the present value of estimated cash flows related to its reclamation liabilities using Level 3 inputs. The significant inputs used to calculate such liabilities include estimates of costs to be incurred, the Company’s credit adjusted discount rate, inflation rates and estimated date of reclamation.

Concentrations—During the three and six months ended June 30, 2019, sales to four customers accounted for approximately 55% of total revenue in each period. The total balance due from these four customers at June 30, 2019 was approximately 69% of total accounts receivable. During the three and six months ended June 30, 2018 sales to three customers accounted for approximately 79% and 75% of total revenue, respectively.

Recent Accounting Pronouncements—In February 2016, the FASB issued ASU 2016‑02, Leases, which aims to make leasing activities more transparent and comparable and requires substantially all leases be recognized by lessees on their balance sheet as a right-of-use asset and corresponding lease liability, including leases currently accounted for as operating leases. Leases of mineral reserves and related land leases have been exempted from the standard. We adopted ASU 2016‑02, Leases, on January 1, 2019. The Company elected the “package of practical expedients” within the standard which permits the Company not to reassess its prior conclusions about lease identification, lease classification and initial direct costs. The Company made an accounting policy election to not separate lease and non-lease components for all leases. The adoption of this standard resulted in the recognition of right-of-use assets and lease liabilities of $0.3 million, which were not previously recorded on the Company’s balance sheet.

XML 21 R9.htm IDEA: XBRL DOCUMENT v3.19.2
Note 3 - Property, Plant and Equipment
6 Months Ended
Jun. 30, 2019
Notes to Financial Statements  
PROPERTY, PLANT AND EQUIPMENT

NOTE 3—PROPERTY, PLANT AND EQUIPMENT

The Company’s property, plant and equipment consist of the following:

 

 

 

 

 

 

 

 

 

(In thousands)

    

June 30, 2019

    

December 31, 2018

 

Plant and equipment

 

$

130,218

 

$

109,911

 

Construction in process

 

 

10,252

 

 

12,066

 

Capitalized mine development cost

 

 

48,413

 

 

43,037

 

Less accumulated depreciation and amortization

 

 

(24,690)

 

 

(15,809)

 

Total property, plant and equipment, net

 

$

164,193

 

$

149,205

 

 

During the three months ended June 30, 2019, depreciation expense related to our plant and equipment totaled $3.4 million and amortization of our capitalized development costs totaled $1.4 million. During the three months ended June 30, 2018, depreciation expense related to our plant and equipment totaled $2.3 million and amortization of our capitalized development costs totaled $0.6 million.

During the six months ended June 30, 2019, depreciation expense related to our plant and equipment totaled $6.4 million and amortization of our capitalized development costs totaled $2.5 million. During the six months ended June 30, 2018, depreciation expense related to our plant and equipment totaled $4.4 million and amortization of our capitalized development costs totaled $1.0 million.

Capitalized amounts related to coal reserves at properties where we are not currently engaged in mining operations totaled $7.2 million as of June 30, 2019 and $5.5 million as of December 31, 2018.

XML 22 R10.htm IDEA: XBRL DOCUMENT v3.19.2
Note 4 - Debt
6 Months Ended
Jun. 30, 2019
Notes to Financial Statements  
DEBT

NOTE 4—DEBT

Credit Facility

On November 2, 2018 the Company (together with its subsidiaries, and collectively the “Borrower”) entered into a Credit and Security Agreement (the “Credit Facility”) with KeyBank National Association (“KeyBank”). The Credit Facility consists of a $10.0 million term loan (the “Term Loan”) and up to $30.0 million revolving line of credit, including $1.0 million letter of credit availability (the “Revolving Credit Facility”). To secure the Credit Facility the Company pledged all personal property assets of Borrower, including, but not limited to accounts receivable, coal inventory, and certain surface mining equipment. Real property and improvements are excluded from the collateral package and are not encumbered in connection with the Credit Facility. The Company used the Credit Facility to repay existing notes payable and provide working capital. The Credit Facility has a maturity date of November 2, 2021.

The Revolving Credit Facility interest rate is based on LIBOR + 2.35% or Base Rate + 1.75%. The Term Loan credit interest rate is based on LIBOR + 4.75% or Base Rate + 3.75%. Base Rate is the highest of (i) KeyBank’s prime rate, (ii) Federal Funds Effective Rate + 0.5%, or (iii) LIBOR + 1.0%. Both loans are initially base rate loans, but may be converted to LIBOR rate loans at certain times at the Company’s discretion.

The outstanding principal balance of the Term Loan is required to be repaid in monthly installments of approximately $0.4 million until fully repaid. As of June 30, 2019, the outstanding principal balance of the Term Loan was $7.1 million and the carrying amount was $7.0 million. As of December 31, 2018, the outstanding principal balance of the Term Loan was $9.6 million and the carrying amount was $9.5 million. As of June 30, 2019, $8.0 million was outstanding on the Revolving Credit Facility. There was no outstanding balance on the Revolving Credit Facility at December 31, 2018.

The Credit Facility contains usual and customary representations and warranties and usual and customary affirmative and negative covenants, including but not limited to, limitations on liens, additional indebtedness, investments, restricted payments, asset sales, mergers, affiliate transactions and other customary limitations, as well as financial covenants. As of June 30, 2019, the Company was in compliance with all covenants under the Credit Facility.

XML 23 R11.htm IDEA: XBRL DOCUMENT v3.19.2
Note 5 - Equity
6 Months Ended
Jun. 30, 2019
Notes to Financial Statements  
EQUITY

NOTE 5—EQUITY

As of June 30, 2019, we had 40,942,581 shares of common stock outstanding.

Stock-Based Compensation

We have a stock-based compensation plan under which stock options, restricted stock, performance shares and other stock-based awards may be granted. At June 30, 2019, 5.1 million shares were available under the current plan for future awards.

Total compensation costs recognized for all stock-based compensation was $1.1 million and $0.7 million for the three months ended June 30, 2019 and 2018, respectively.

Total compensation costs recognized for all stock-based compensation was $2.0 million and $1.2 million for the six months ended June 30, 2019 and 2018, respectively.

Share Options – A total of 937,424 options for the purchase of shares of the Company’s common stock were granted to two executives on August 31, 2016 at a purchase price of $5.34 per share. Stock-based compensation expense totaling $2.1 million was recognized during 2017 for the accelerated vesting of these options in our IPO. The options have a ten-year term from the grant date. The options remain outstanding and unexercised and were not in-the-money at June 30, 2019.

Restricted Shares—We grant restricted stock to certain senior executives, key employees and directors. The shares vest over one to three years from the date of grant. During the vesting period, the participants have voting rights and may receive dividends, but the shares may not be sold, assigned, transferred, pledged or otherwise encumbered. Additionally, granted but unvested shares are forfeited upon termination of employment, unless an employee enters into another written arrangement with the Company. The fair value of the restricted shares on the date of the grant is amortized ratably over the service period. Compensation expense related to these awards totaled $1.1 million and $2.0 million for the three and six months ended June 30, 2019, respectively. As of June 30, 2019, there was $6.6 million of total unrecognized compensation cost related to unvested restricted stock to be recognized over a weighted-average period of 1.6 years.

The following table summarizes restricted awards outstanding as of June 30, 2019, as well as activity during the period:

 

 

 

 

 

 

 

 

    

 

    

Weighted

 

 

 

 

Average Grant

 

 

Shares

 

 

Date Fair Value

Outstanding at December 31, 2018

 

966,134

 

$

6.99

Granted

 

867,201

 

 

5.49

Vested

 

 —

 

 

 —

Forfeited

 

(7,087)

 

 

6.05

Outstanding at June 30, 2019

 

1,826,248

 

$

6.28

 

XML 24 R12.htm IDEA: XBRL DOCUMENT v3.19.2
Note 6 - Commitments and Contingencies
6 Months Ended
Jun. 30, 2019
Notes to Financial Statements  
COMMITMENTS AND CONTINGENCIES.

NOTE 6—COMMITMENTS AND CONTINGENCIES

Surety Bond

As of June 30, 2019, our asset retirement obligations totaled $13.2 million and we had total corresponding reclamation bonding requirements of $12.8 million, which were supported by surety bonds.

Purchase Commitments

We secure the ability to transport coal through rail contracts and export terminals that are sometimes funded through take-or-pay arrangements. As of June 30, 2019, commitments under take-or-pay arrangements totaled approximately $2.3 million through March 31, 2020.

Litigation

From time to time, the Company is subject to various litigation and other claims in the normal course of business. No amounts have been accrued in the consolidated financial statements with respect to any matters.

XML 25 R13.htm IDEA: XBRL DOCUMENT v3.19.2
Note 7 - Revenues
6 Months Ended
Jun. 30, 2019
Notes to Financial Statements  
REVENUES.

NOTE 7—REVENUES

Our revenues are derived from contracts for the sale of coal which is recognized at the point in time control is transferred to our customer. Generally, domestic sales contracts have terms of about one year and the pricing is typically fixed. Export sales have spot or term contracts and pricing can either be by fixed-price or a price derived against index-based pricing mechanisms. Disaggregated information about our revenues is presented below:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended June 30, 

 

Six months ended June 30, 

 

(In thousands)

    

2019

    

2018

 

2019

    

2018

 

Coal Sales

 

 

  

 

 

  

 

 

  

 

 

  

 

Domestic revenues

 

$

39,544

 

$

34,376

 

$

76,116

 

$

60,074

 

Export revenues

 

 

26,217

 

 

30,902

 

 

47,105

 

 

61,147

 

Total revenues

 

$

65,761

 

$

65,278

 

$

123,221

 

$

121,221

 

 

As of June 30, 2019, the Company has outstanding performance obligations for the remainder of 2019 of approximately 0.8 million tons for contracts having fixed pricing and 0.1 million tons for contracts to export customers with index-based pricing mechanisms. Additionally, the Company has outstanding performance obligations beyond 2019 of approximately 0.1 million tons for export contracts with index-based pricing mechanisms.

XML 26 R14.htm IDEA: XBRL DOCUMENT v3.19.2
Note 8 - Income Taxes
6 Months Ended
Jun. 30, 2019
Notes to Financial Statements  
INCOME TAXES

NOTE 8—INCOME TAXES

Income tax provisions for interim quarterly periods are based on an estimated annual effective income tax rate calculated separately from the effect of significant, infrequent or unusual items related specifically to interim periods. Income tax expense for the three months ended June 30, 2019 was $2.2 million, an effective tax rate of 17.0%, compared to $0.6 million, an effective tax rate of 5.9% for the three months ended June 30, 2018.    Income tax expense for the six months ended June 30, 2019 was $3.5 million, an effective tax rate of 16.8% compared to expense of $1.4 million, an effective tax rate of 8.2% for the six months ended June 30, 2018. The primary difference between the statutory rate of 21% and the actual rate is related to permanent differences for state income taxes, non-deductible expenses and the difference in depletion expense between U.S. GAAP and federal income tax purposes.

 

XML 27 R15.htm IDEA: XBRL DOCUMENT v3.19.2
Note 9 - Earnings Per Share
6 Months Ended
Jun. 30, 2019
Notes to Financial Statements  
EARNINGS PER SHARE.

NOTE 9—EARNINGS PER SHARE

The following is the computation of basic and diluted EPS for the three and six months ended June 30, 2019 and 2018. EPS is reported under the treasury stock method.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

Three months ended June 30, 

 

Six months ended June 30, 

 

(In thousands, except per share amounts)

    

2019

    

2018

    

2019

    

2018

 

Numerator

 

 

  

 

 

  

 

 

  

 

 

  

 

Net income

 

$

10,613

 

$

10,204

 

$

17,496

 

$

15,470

 

Denominator

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares used to compute basic EPS

 

 

40,869

 

 

40,082

 

 

40,737

 

 

39,994

 

Dilutive effect of share-based awards

 

 

96

 

 

258

 

 

73

 

 

248

 

Weighted average shares used to compute diluted EPS

 

 

40,965

 

 

40,340

 

 

40,810

 

 

40,242

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per share

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.26

 

$

0.25

 

$

0.43

 

$

0.39

 

Diluted

 

$

0.26

 

$

0.25

 

$

0.43

 

$

0.38

 

 

XML 28 R16.htm IDEA: XBRL DOCUMENT v3.19.2
Note 10 - Related Party Transactions
6 Months Ended
Jun. 30, 2019
Notes to Financial Statements  
RELATED PARTY TRANSACTIONS

NOTE 10—RELATED PARTY TRANSACTIONS

Mineral Lease and Surface Rights Agreements

Much of the coal reserves and surface rights that we control were acquired through a series of mineral leases and surface rights agreements with Ramaco Coal, LLC, a related party. Payments of minimum royalties and throughput payments commenced in 2017 pursuant to the terms of the agreements. Under these agreements, minimum royalties are paid in arrears each month to the extent that the earned production royalties for such month are less than the required minimums. Amounts due to Ramaco Coal, LLC of $0.8 million and $2.9 million at June 30, 2019 and December 31, 2018, respectively, are included in Accounts Payable in the condensed consolidated balance sheet and represent production royalty payables.

On-going Administrative Services

Under a Mutual Services Agreement dated December 22, 2017 but effective as of March 31, 2018, the Company and Ramaco Coal, LLC agreed to share the services of certain party’s employees. Each party will pay the other a fee on a quarterly basis for such services calculated as the annual base salary of each employee providing services multiplied by the percentage of time each employee spent providing services for the other party. The services will be provided for 12‑month terms, but may be terminated by either party at the end of any 12‑month term by providing written notice at least 30 days prior to the end of the then-current term. During the six months ended June 30, 2019, the Company billed $4,000 to Ramaco Coal, LLC for use of services. 

XML 29 R17.htm IDEA: XBRL DOCUMENT v3.19.2
Significant Accounting Policies (Policies)
6 Months Ended
Jun. 30, 2019
Accounting Policies [Abstract]  
Basis of Presentation

Basis of Presentation—These interim financial statements are unaudited and have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. Certain disclosures have been condensed or omitted from these financial statements. Accordingly, they do not include all the information and notes required by accounting principles generally accepted in the United States of America (“GAAP”) for complete consolidated financial statements, and should be read in conjunction with the audited consolidated financial statements and notes thereto included in our Annual Report on Form 10‑K for the year ended December 31, 2018.

In the opinion of management, the accompanying unaudited condensed consolidated financial statements include all adjustments, consisting of normal recurring adjustments, necessary to fairly present the financial position as of, and the results of operations for, all periods presented. In preparing the accompanying financial statements, management has made certain estimates and assumptions that affect reported amounts in the condensed consolidated financial statements and disclosures of contingencies. Actual results may differ from those estimates. The results for interim periods are not necessarily indicative of annual results. Certain reclassifications have been made to the prior period’s consolidated financial statements and related footnotes to conform them to the current period presentation.

Revenue Recognition

Revenue Recognition—Our primary source of revenue is from the sale of coal through contracts with steel and coke producers usually having durations of one year or less. In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014‑09, Revenue from Contracts with Customers. This new standard supersedes nearly all existing revenue recognition guidance under GAAP. The core principle of ASU 2014‑09 is to recognize revenues in a way that depicts the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. We adopted ASU 2014‑09, Revenue from Contracts with Customers, on January 1, 2018 using the modified retrospective method. Before adoption of the new standard, revenue was recognized when risk of loss passed to our customer. The timing of revenue recognition for our coal sales remained consistent between the new and previous standards. There was no material impact on our consolidated financial statements from adopting the new standard but we have expanded disclosure about our revenues.

For periods subsequent to January 1, 2018, revenue is recognized when performance obligations under the terms of a contract with our customers are satisfied. This occurs when control of the coal is transferred to our customers. For coal shipments to domestic customers via rail or truck, control is generally transferred when the railcar or truck is loaded. Control is transferred for export coal shipments to customers via ocean vessel when the vessel is loaded at the port.

Our coal sales generally include up to 90‑day payment terms following the transfer of control of the goods to our customer. In the case of some of our foreign customers, our contracts also require that letters of credit are posted to secure payment of any outstanding receivable to the Company. We do not include extended payment terms in our contracts. Our contracts with customers typically provide for minimum specifications or qualities of the coal we deliver. Variances from these specifications or qualities are settled by means of price adjustments. Generally, these price adjustments are settled within 30 days of delivery and are insignificant.

Earnings per share

Earnings per ShareBasic earnings per share is calculated using our weighted-average outstanding common shares. Diluted earnings per share is calculated using our weighted-average outstanding common shares including the dilutive effect of stock option awards as determined under the treasury stock method.

Financial Instruments

Financial Instruments—Our financial assets and liabilities consist of cash, accounts receivable, accounts payable and notes payable. The fair values of these instruments approximate their carrying amounts at each reporting date.

We invested excess cash amounts before its planned expenditure for capital projects in highly-rated securities with the primary objective of achieving competitive low risk interest rate return, while minimizing the potential risk of principal loss. Fair values were determined for each individual security based on observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the securities. The difference between the carrying amount and fair value of these securities was not material.

Nonrecurring fair value measurements include asset retirement obligations, the estimated fair value of which is calculated as the present value of estimated cash flows related to its reclamation liabilities using Level 3 inputs. The significant inputs used to calculate such liabilities include estimates of costs to be incurred, the Company’s credit adjusted discount rate, inflation rates and estimated date of reclamation.

Concentrations

Concentrations—During the three and six months ended June 30, 2019, sales to four customers accounted for approximately 55% of total revenue in each period. The total balance due from these four customers at June 30, 2019 was approximately 69% of total accounts receivable. During the three and six months ended June 30, 2018 sales to three customers accounted for approximately 79% and 75% of total revenue, respectively.

Recent Accounting Pronouncements

Recent Accounting Pronouncements—In February 2016, the FASB issued ASU 2016‑02, Leases, which aims to make leasing activities more transparent and comparable and requires substantially all leases be recognized by lessees on their balance sheet as a right-of-use asset and corresponding lease liability, including leases currently accounted for as operating leases. Leases of mineral reserves and related land leases have been exempted from the standard. We adopted ASU 2016‑02, Leases, on January 1, 2019. The Company elected the “package of practical expedients” within the standard which permits the Company not to reassess its prior conclusions about lease identification, lease classification and initial direct costs. The Company made an accounting policy election to not separate lease and non-lease components for all leases. The adoption of this standard resulted in the recognition of right-of-use assets and lease liabilities of $0.3 million, which were not previously recorded on the Company’s balance sheet.

XML 30 R18.htm IDEA: XBRL DOCUMENT v3.19.2
Note 3 - Property, Plant and Equipment (Tables)
6 Months Ended
Jun. 30, 2019
Notes Tables  
Schedul of property, plant, and equipment

 

 

 

 

 

 

 

 

(In thousands)

    

June 30, 2019

    

December 31, 2018

 

Plant and equipment

 

$

130,218

 

$

109,911

 

Construction in process

 

 

10,252

 

 

12,066

 

Capitalized mine development cost

 

 

48,413

 

 

43,037

 

Less accumulated depreciation and amortization

 

 

(24,690)

 

 

(15,809)

 

Total property, plant and equipment, net

 

$

164,193

 

$

149,205

 

 

XML 31 R19.htm IDEA: XBRL DOCUMENT v3.19.2
Note 5 - Equity (Tables)
6 Months Ended
Jun. 30, 2019
Notes Tables  
Schedule of restricted awards outstanding

 

 

 

 

 

 

 

    

 

    

Weighted

 

 

 

 

Average Grant

 

 

Shares

 

 

Date Fair Value

Outstanding at December 31, 2018

 

966,134

 

$

6.99

Granted

 

867,201

 

 

5.49

Vested

 

 —

 

 

 —

Forfeited

 

(7,087)

 

 

6.05

Outstanding at June 30, 2019

 

1,826,248

 

$

6.28

 

XML 32 R20.htm IDEA: XBRL DOCUMENT v3.19.2
Note 7 - Revenues (Tables)
6 Months Ended
Jun. 30, 2019
Notes Tables  
Schedule of disaggregation of revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended June 30, 

 

Six months ended June 30, 

 

(In thousands)

    

2019

    

2018

 

2019

    

2018

 

Coal Sales

 

 

  

 

 

  

 

 

  

 

 

  

 

Domestic revenues

 

$

39,544

 

$

34,376

 

$

76,116

 

$

60,074

 

Export revenues

 

 

26,217

 

 

30,902

 

 

47,105

 

 

61,147

 

Total revenues

 

$

65,761

 

$

65,278

 

$

123,221

 

$

121,221

 

 

XML 33 R21.htm IDEA: XBRL DOCUMENT v3.19.2
Note 9 - Earnings Per Share (Tables)
6 Months Ended
Jun. 30, 2019
Notes Tables  
Schedule computation of basic and diluted EPS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

Three months ended June 30, 

 

Six months ended June 30, 

 

(In thousands, except per share amounts)

    

2019

    

2018

    

2019

    

2018

 

Numerator

 

 

  

 

 

  

 

 

  

 

 

  

 

Net income

 

$

10,613

 

$

10,204

 

$

17,496

 

$

15,470

 

Denominator

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares used to compute basic EPS

 

 

40,869

 

 

40,082

 

 

40,737

 

 

39,994

 

Dilutive effect of share-based awards

 

 

96

 

 

258

 

 

73

 

 

248

 

Weighted average shares used to compute diluted EPS

 

 

40,965

 

 

40,340

 

 

40,810

 

 

40,242

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per share

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.26

 

$

0.25

 

$

0.43

 

$

0.39

 

Diluted

 

$

0.26

 

$

0.25

 

$

0.43

 

$

0.38

 

 

XML 34 R22.htm IDEA: XBRL DOCUMENT v3.19.2
Note 2 - Summary of Significant Accounting Policies - Concentrations (Details) - Customer Concentration Risk - customer
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Revenue Benchmark        
Concentrations        
Number of Major Customers 4 3 4 3
Concentration Risk, Percentage 55.00% 79.00% 55.00% 75.00%
Accounts Receivable.        
Concentrations        
Number of Major Customers     4  
Concentration Risk, Percentage     69.00%  
XML 35 R23.htm IDEA: XBRL DOCUMENT v3.19.2
Note 2 - Summary of Significant Accounting Policies (Details) - Accounting Standards Update 2016-02
$ in Millions
Jan. 01, 2019
USD ($)
Recent Accounting Pronouncements  
Operating Lease, Liability, Total $ 0.3
Operating Lease, Right-of-Use Asset $ 0.3
XML 36 R24.htm IDEA: XBRL DOCUMENT v3.19.2
Note 3 - Property, Plant and Equipment - Schedule of Property, Plant and Equipment (Details) - USD ($)
$ in Thousands
Jun. 30, 2019
Dec. 31, 2018
PROPERTY, PLANT AND EQUIPMENT    
Less: Accumulated depreciation and amortization $ (24,690) $ (15,809)
Total property, plant and equipment, net 164,193 149,205
Plant and Equipment, at Cost    
PROPERTY, PLANT AND EQUIPMENT    
Property, plant and equipment, gross 130,218 109,911
Construction in Progress    
PROPERTY, PLANT AND EQUIPMENT    
Property, plant and equipment, gross 10,252 12,066
Mine Development    
PROPERTY, PLANT AND EQUIPMENT    
Property, plant and equipment, gross $ 48,413 $ 43,037
XML 37 R25.htm IDEA: XBRL DOCUMENT v3.19.2
Note 3 - Property, Plant and Equipment (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Dec. 31, 2018
PROPERTY, PLANT AND EQUIPMENT          
Depreciation, Total $ 3.4 $ 2.3 $ 6.4 $ 4.4  
Amortization, Total 1.4 $ 0.6 2.5 $ 1.0  
Coal Properties          
PROPERTY, PLANT AND EQUIPMENT          
Capitalized amounts related to coal reserves at properties where the Company is not currently engaged in mining operations $ 7.2   $ 7.2   $ 5.5
XML 38 R26.htm IDEA: XBRL DOCUMENT v3.19.2
Note 4 - Debt (Details) - KeyBank National Association - USD ($)
$ in Millions
Nov. 02, 2018
Jun. 30, 2019
Dec. 31, 2018
Revolving Credit Facility      
DEBT      
Line of Credit Facility, Maximum Borrowing Capacity $ 30.0    
Long-term Line of Credit, Total   $ 8.0 $ 0.0
Revolving Credit Facility | London Interbank Offered Rate (LIBOR)      
DEBT      
Debt Instrument, Basis Spread on Variable Rate 2.35%    
Revolving Credit Facility | Base Rate      
DEBT      
Debt Instrument, Basis Spread on Variable Rate 1.75%    
Letter of Credit      
DEBT      
Line of Credit Facility, Maximum Borrowing Capacity $ 1.0    
Term Loan      
DEBT      
Debt Instrument, Face Amount 10.0 7.1 9.6
Debt Instrument, Monthly Installment, Amount $ 0.4    
Long-term Debt, Total   $ 7.0 $ 9.5
Term Loan | London Interbank Offered Rate (LIBOR)      
DEBT      
Debt Instrument, Basis Spread on Variable Rate 4.75%    
Term Loan | Base Rate      
DEBT      
Debt Instrument, Basis Spread on Variable Rate 3.75%    
Term Loan Base Rate | London Interbank Offered Rate (LIBOR)      
DEBT      
Debt Instrument, Basis Spread on Variable Rate 1.00%    
Term Loan Base Rate | Fed Funds Effective Rate Overnight Index Swap Rate      
DEBT      
Debt Instrument, Basis Spread on Variable Rate 0.50%    
XML 39 R27.htm IDEA: XBRL DOCUMENT v3.19.2
Note 5 - Equity (Details)
$ / shares in Units, $ in Millions
3 Months Ended 6 Months Ended 12 Months Ended
Aug. 31, 2016
employee
$ / shares
shares
Jun. 30, 2019
USD ($)
shares
Jun. 30, 2018
USD ($)
Jun. 30, 2019
USD ($)
shares
Jun. 30, 2018
USD ($)
Dec. 31, 2017
USD ($)
Dec. 31, 2018
shares
EQUITY              
Total shares available under plan (in shares) | shares   40,942,581   40,942,581     40,082,467
Compensation costs   $ 1.1 $ 0.7 $ 2.0 $ 1.2    
Granted (in shares) | shares   5,100,000   5,100,000      
Restricted Stock              
EQUITY              
Compensation costs   $ 1.1   $ 2.0      
Unrecognized compensation cost   $ 6.6   $ 6.6      
Weighted-average period       1 year 7 months 6 days      
Restricted Stock | Minimum              
EQUITY              
Vesting period       1 year      
Restricted Stock | Maximum              
EQUITY              
Vesting period       3 years      
Stock Options              
EQUITY              
Compensation costs           $ 2.1  
Granted (in shares) | shares 937,424            
Number of individuals | employee 2            
Purchase price (per share) | $ / shares $ 5.34            
Expiration period 10 years            
XML 40 R28.htm IDEA: XBRL DOCUMENT v3.19.2
Note 5 - Equity - Summary of Restricted Awards Activity (Details) - Restricted Stock
6 Months Ended
Jun. 30, 2019
$ / shares
shares
EQUITY  
Outstanding, shares (in shares) | shares 966,134
Outstanding, Weighted average grant date fair value (in dollars per share) | $ / shares $ 6.99
Granted, shares (in shares) | shares 867,201
Granted, Weighted average grant date fair value (in dollars per share) | $ / shares $ 5.49
Forfeited, shares (in shares) | shares (7,087)
Forfeited, Weighted average grant date fair value (in dollars per share) | $ / shares $ 6.05
Outstanding, shares (in shares) | shares 1,826,248
Outstanding, Weighted average grant date fair value (in dollars per share) | $ / shares $ 6.28
XML 41 R29.htm IDEA: XBRL DOCUMENT v3.19.2
Note 6 - Commitments and Contingencies (Details)
$ in Millions
6 Months Ended
Jun. 30, 2019
USD ($)
COMMITMENTS AND CONTINGENCIES  
Asset Retirement Obligation $ 13.2
Reclamation bonding requirements 12.8
Take-or-pay Purchase Commitments  
COMMITMENTS AND CONTINGENCIES  
Commitments $ 2.3
XML 42 R30.htm IDEA: XBRL DOCUMENT v3.19.2
Note 7 - Revenue - Domestic Revenues an Export Revenues (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
REVENUES        
Revenues $ 65,761 $ 65,278 $ 123,221 $ 121,221
Domestic Coal Revenues        
REVENUES        
Revenues 39,544 34,376 76,116 60,074
Export Coal Revenues        
REVENUES        
Revenues $ 26,217 $ 30,902 $ 47,105 $ 61,147
XML 43 R31.htm IDEA: XBRL DOCUMENT v3.19.2
Note 7 - Revenues (Details) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01
T in Millions
Jun. 30, 2019
T
Fixed Priced Contracts  
REVENUES  
Revenue, Remaining Performance Obligation, Mass 0.8
Contracts with Indexed Based Pricing Mechanisms  
REVENUES  
Revenue, Remaining Performance Obligation, Mass 0.1
XML 44 R32.htm IDEA: XBRL DOCUMENT v3.19.2
Note 8 - Income Taxes (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
INCOME TAXES        
Income Tax Expense (Benefit), Total $ 2,168 $ 642 $ 3,525 $ 1,385
Effective Income Tax Rate Reconciliation, Percent, Total 17.00% 5.90% 16.80% 8.20%
Statutory rate     21.00%  
XML 45 R33.htm IDEA: XBRL DOCUMENT v3.19.2
Note 9 - Earnings Per Share - Computation of Basic and Diluted Earnings per Share (Details) - USD ($)
$ / shares in Units, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
EARNINGS PER SHARE        
Net income $ 10,613 $ 10,204 $ 17,496 $ 15,470
Weighted average shares used to compute basic EPS (in shares) 40,869 40,082 40,737 39,994
Dilutive effect of share-based awards (in shares) 96 258 73 248
Weighted average shares used to compute diluted EPS (in shares) 40,965 40,340 40,810 40,242
Basic (in dollars per share) $ 0.26 $ 0.25 $ 0.43 $ 0.39
Diluted (in dollars per share) $ 0.26 $ 0.25 $ 0.43 $ 0.38
XML 46 R34.htm IDEA: XBRL DOCUMENT v3.19.2
Note 10 - Related Party Transactions (Details) - Ramaco Coal, LLC - USD ($)
Jun. 30, 2019
Dec. 31, 2018
Share the services    
RELATED PARTY TRANSACTIONS    
Due to Related Parties, Total $ 4,000  
Accounts Payable and Accrued Liabilities | Mineral Lease and Surface Rights Agreements    
RELATED PARTY TRANSACTIONS    
Due to Related Parties, Total $ 800,000 $ 2,900,000
EXCEL 47 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 Financial_Report.xlsx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end XML 48 Show.js IDEA: XBRL DOCUMENT // Edgar(tm) Renderer was created by staff of the U.S. Securities and Exchange Commission. Data and content created by government employees within the scope of their employment are not subject to domestic copyright protection. 17 U.S.C. 105. var Show={};Show.LastAR=null,Show.showAR=function(a,r,w){if(Show.LastAR)Show.hideAR();var e=a;while(e&&e.nodeName!='TABLE')e=e.nextSibling;if(!e||e.nodeName!='TABLE'){var ref=((window)?w.document:document).getElementById(r);if(ref){e=ref.cloneNode(!0); e.removeAttribute('id');a.parentNode.appendChild(e)}} if(e)e.style.display='block';Show.LastAR=e};Show.hideAR=function(){Show.LastAR.style.display='none'};Show.toggleNext=function(a){var e=a;while(e.nodeName!='DIV')e=e.nextSibling;if(!e.style){}else if(!e.style.display){}else{var d,p_;if(e.style.display=='none'){d='block';p='-'}else{d='none';p='+'} e.style.display=d;if(a.textContent){a.textContent=p+a.textContent.substring(1)}else{a.innerText=p+a.innerText.substring(1)}}} XML 49 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; white-space: normal; /* word-wrap: break-word; */ } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; overflow: hidden; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 50 FilingSummary.xml IDEA: XBRL DOCUMENT 3.19.2 html 78 230 1 false 33 0 false 7 false false R1.htm 00090 - Document - Document And Entity Information Sheet http://ramacoresources.com/role/DocumentDocumentAndEntityInformation Document And Entity Information Cover 1 false false R2.htm 00100 - Statement - Unaudited Condensed Consolidated Balance Sheets Sheet http://ramacoresources.com/role/StatementUnauditedCondensedConsolidatedBalanceSheets Unaudited Condensed Consolidated Balance Sheets Statements 2 false false R3.htm 00105 - Statement - Unaudited Condensed Consolidated Balance Sheets (Parentheticals) Sheet http://ramacoresources.com/role/StatementUnauditedCondensedConsolidatedBalanceSheetsParentheticals Unaudited Condensed Consolidated Balance Sheets (Parentheticals) Statements 3 false false R4.htm 00200 - Statement - Unaudited Condensed Consolidated Statements of Operations Sheet http://ramacoresources.com/role/StatementUnauditedCondensedConsolidatedStatementsOfOperations Unaudited Condensed Consolidated Statements of Operations Statements 4 false false R5.htm 00300 - Statement - Unaudited Condensed Consolidated Statements of Stockholders' Equity Sheet http://ramacoresources.com/role/StatementUnauditedCondensedConsolidatedStatementsOfStockholdersEquity Unaudited Condensed Consolidated Statements of Stockholders' Equity Statements 5 false false R6.htm 00400 - Statement - Unaudited Condensed Consolidated Statements of Cash Flows Sheet http://ramacoresources.com/role/StatementUnauditedCondensedConsolidatedStatementsOfCashFlows Unaudited Condensed Consolidated Statements of Cash Flows Statements 6 false false R7.htm 10101 - Disclosure - Note 1 - Description of Business Sheet http://ramacoresources.com/role/DisclosureNote1DescriptionOfBusiness Note 1 - Description of Business Notes 7 false false R8.htm 10201 - Disclosure - Note 2 - Summary of Significant Accounting Policies Sheet http://ramacoresources.com/role/DisclosureNote2SummaryOfSignificantAccountingPolicies Note 2 - Summary of Significant Accounting Policies Notes 8 false false R9.htm 10301 - Disclosure - Note 3 - Property, Plant and Equipment Sheet http://ramacoresources.com/role/DisclosureNote3PropertyPlantAndEquipment Note 3 - Property, Plant and Equipment Notes 9 false false R10.htm 10401 - Disclosure - Note 4 - Debt Sheet http://ramacoresources.com/role/DisclosureNote4Debt Note 4 - Debt Notes 10 false false R11.htm 10501 - Disclosure - Note 5 - Equity Sheet http://ramacoresources.com/role/DisclosureNote5Equity Note 5 - Equity Notes 11 false false R12.htm 10601 - Disclosure - Note 6 - Commitments and Contingencies Sheet http://ramacoresources.com/role/DisclosureNote6CommitmentsAndContingencies Note 6 - Commitments and Contingencies Notes 12 false false R13.htm 10701 - Disclosure - Note 7 - Revenues Sheet http://ramacoresources.com/role/DisclosureNote7Revenues Note 7 - Revenues Notes 13 false false R14.htm 10801 - Disclosure - Note 8 - Income Taxes Sheet http://ramacoresources.com/role/DisclosureNote8IncomeTaxes Note 8 - Income Taxes Notes 14 false false R15.htm 10901 - Disclosure - Note 9 - Earnings Per Share Sheet http://ramacoresources.com/role/DisclosureNote9EarningsPerShare Note 9 - Earnings Per Share Notes 15 false false R16.htm 11001 - Disclosure - Note 10 - Related Party Transactions Sheet http://ramacoresources.com/role/DisclosureNote10RelatedPartyTransactions Note 10 - Related Party Transactions Notes 16 false false R17.htm 20202 - Disclosure - Significant Accounting Policies (Policies) Sheet http://ramacoresources.com/role/DisclosureSignificantAccountingPoliciesPolicies Significant Accounting Policies (Policies) Policies http://ramacoresources.com/role/DisclosureNote2SummaryOfSignificantAccountingPolicies 17 false false R18.htm 30303 - Disclosure - Note 3 - Property, Plant and Equipment (Tables) Sheet http://ramacoresources.com/role/DisclosureNote3PropertyPlantAndEquipmentTables Note 3 - Property, Plant and Equipment (Tables) Tables http://ramacoresources.com/role/DisclosureNote3PropertyPlantAndEquipment 18 false false R19.htm 30503 - Disclosure - Note 5 - Equity (Tables) Sheet http://ramacoresources.com/role/DisclosureNote5EquityTables Note 5 - Equity (Tables) Tables http://ramacoresources.com/role/DisclosureNote5Equity 19 false false R20.htm 30703 - Disclosure - Note 7 - Revenues (Tables) Sheet http://ramacoresources.com/role/DisclosureNote7RevenuesTables Note 7 - Revenues (Tables) Tables http://ramacoresources.com/role/DisclosureNote7Revenues 20 false false R21.htm 30903 - Disclosure - Note 9 - Earnings Per Share (Tables) Sheet http://ramacoresources.com/role/DisclosureNote9EarningsPerShareTables Note 9 - Earnings Per Share (Tables) Tables http://ramacoresources.com/role/DisclosureNote9EarningsPerShare 21 false false R22.htm 40201 - Disclosure - Note 2 - Summary of Significant Accounting Policies - Concentrations (Details) Sheet http://ramacoresources.com/role/DisclosureNote2SummaryOfSignificantAccountingPoliciesConcentrationsDetails Note 2 - Summary of Significant Accounting Policies - Concentrations (Details) Details 22 false false R23.htm 40202 - Disclosure - Note 2 - Summary of Significant Accounting Policies (Details) Sheet http://ramacoresources.com/role/DisclosureNote2SummaryOfSignificantAccountingPoliciesDetails Note 2 - Summary of Significant Accounting Policies (Details) Details 23 false false R24.htm 40301 - Disclosure - Note 3 - Property, Plant and Equipment - Schedule of Property, Plant and Equipment (Details) Sheet http://ramacoresources.com/role/DisclosureNote3PropertyPlantAndEquipmentScheduleOfPropertyPlantAndEquipmentDetails Note 3 - Property, Plant and Equipment - Schedule of Property, Plant and Equipment (Details) Details 24 false false R25.htm 40302 - Disclosure - Note 3 - Property, Plant and Equipment (Details) Sheet http://ramacoresources.com/role/DisclosureNote3PropertyPlantAndEquipmentDetails Note 3 - Property, Plant and Equipment (Details) Details http://ramacoresources.com/role/DisclosureNote3PropertyPlantAndEquipmentTables 25 false false R26.htm 40401 - Disclosure - Note 4 - Debt (Details) Sheet http://ramacoresources.com/role/DisclosureNote4DebtDetails Note 4 - Debt (Details) Details http://ramacoresources.com/role/DisclosureNote4Debt 26 false false R27.htm 40501 - Disclosure - Note 5 - Equity (Details) Sheet http://ramacoresources.com/role/DisclosureNote5EquityDetails Note 5 - Equity (Details) Details http://ramacoresources.com/role/DisclosureNote5EquityTables 27 false false R28.htm 40502 - Disclosure - Note 5 - Equity - Summary of Restricted Awards Activity (Details) Sheet http://ramacoresources.com/role/DisclosureNote5EquitySummaryOfRestrictedAwardsActivityDetails Note 5 - Equity - Summary of Restricted Awards Activity (Details) Details 28 false false R29.htm 40601 - Disclosure - Note 6 - Commitments and Contingencies (Details) Sheet http://ramacoresources.com/role/DisclosureNote6CommitmentsAndContingenciesDetails Note 6 - Commitments and Contingencies (Details) Details http://ramacoresources.com/role/DisclosureNote6CommitmentsAndContingencies 29 false false R30.htm 40701 - Disclosure - Note 7 - Revenue - Domestic Revenues an Export Revenues (Details) Sheet http://ramacoresources.com/role/DisclosureNote7RevenueDomesticRevenuesExportRevenuesDetails Note 7 - Revenue - Domestic Revenues an Export Revenues (Details) Details 30 false false R31.htm 40702 - Disclosure - Note 7 - Revenues (Details) Sheet http://ramacoresources.com/role/DisclosureNote7RevenuesDetails Note 7 - Revenues (Details) Details http://ramacoresources.com/role/DisclosureNote7RevenuesTables 31 false false R32.htm 40801 - Disclosure - Note 8 - Income Taxes (Details) Sheet http://ramacoresources.com/role/DisclosureNote8IncomeTaxesDetails Note 8 - Income Taxes (Details) Details http://ramacoresources.com/role/DisclosureNote8IncomeTaxes 32 false false R33.htm 40901 - Disclosure - Note 9 - Earnings Per Share - Computation of Basic and Diluted Earnings per Share (Details) Sheet http://ramacoresources.com/role/DisclosureNote9EarningsPerShareComputationOfBasicAndDilutedEarningsPerShareDetails Note 9 - Earnings Per Share - Computation of Basic and Diluted Earnings per Share (Details) Details 33 false false R34.htm 41001 - Disclosure - Note 10 - Related Party Transactions (Details) Sheet http://ramacoresources.com/role/DisclosureNote10RelatedPartyTransactionsDetails Note 10 - Related Party Transactions (Details) Details http://ramacoresources.com/role/DisclosureNote10RelatedPartyTransactions 34 false false All Reports Book All Reports metc-20190630.xml metc-20190630.xsd metc-20190630_cal.xml metc-20190630_def.xml metc-20190630_lab.xml metc-20190630_pre.xml http://fasb.org/us-gaap/2019-01-31 http://fasb.org/srt/2019-01-31 http://xbrl.sec.gov/dei/2019-01-31 true true ZIP 52 0001558370-19-008073-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001558370-19-008073-xbrl.zip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end