Segment Information (Tables)

9 Months Ended

Sep. 30, 2020

Segment Reporting [Abstract]

Schedule of Segment Operating Results and Capital Expenditures

Segment operating results and capital expenditures for the three months ended September 30, 2020 were as follows: 

	Three Months Ended September 30, 2020
	CAPP - Met		CAPP - Thermal		NAPP		All Other		Consolidated
Total revenues	$	295,381	$	39,835	$	65,100	$	375	$	400,691
Depreciation, depletion, and amortization	$	41,177	$	7,313	$	1,504	$	745	$	50,739
Amortization of acquired intangibles, net	$	2,535	$	(486)	$	145	$	25	$	2,219
Adjusted EBITDA	$	17,847	$	5,155	$	7,250	$	(10,565)	$	19,687
Capital expenditures	$	22,668	$	765	$	4,299	$	74	$	27,806

Segment operating results and capital expenditures for the three months ended September 30, 2019 were as follows: 

	Three Months Ended September 30, 2019
	CAPP - Met		CAPP - Thermal		NAPP		All Other		Consolidated
Total revenues	$	373,356	$	80,432	$	71,446	$	630	$	525,864
Depreciation, depletion, and amortization	$	38,212	$	13,972	$	6,241	$	2,417	$	60,842
Amortization of acquired intangibles, net	$	4,765	$	(3,359)	$	908	$	—	$	2,314
Adjusted EBITDA	$	58,796	$	1,954	$	(4,152)	$	(16,575)	$	40,023
Capital expenditures	$	47,316	$	5,706	$	7,114	$	165	$	60,301

Segment operating results and capital expenditures for the nine months ended September 30, 2020 were as follows: 

	Nine Months Ended September 30, 2020
	CAPP - Met		CAPP - Thermal		NAPP		All Other		Consolidated
Total revenues	$	974,674	$	115,416	$	190,643	$	2,256	$	1,282,989
Depreciation, depletion, and amortization	$	121,699	$	19,422	$	10,525	$	2,820	$	154,466
Amortization of acquired intangibles, net	$	7,875	$	(3,484)	$	714	$	75	$	5,180
Adjusted EBITDA	$	104,668	$	5,459	$	20,645	$	(33,942)	$	96,830
Capital expenditures	$	83,449	$	6,349	$	28,468	$	630	$	118,896

Segment operating results and capital expenditures for the nine months ended September 30, 2019 were as follows: 

	Nine Months Ended September 30, 2019
	CAPP - Met		CAPP - Thermal		NAPP		All Other		Consolidated
Total revenues	$	1,340,684	$	225,698	$	222,750	$	2,052	$	1,791,184
Depreciation, depletion, and amortization	$	113,714	$	44,586	$	19,390	$	7,237	$	184,927
Amortization of acquired intangibles, net	$	5,816	$	(12,142)	$	1,614	$	—	$	(4,712)
Adjusted EBITDA	$	283,483	$	8,704	$	21,900	$	(49,930)	$	264,157
Capital expenditures	$	105,008	$	13,365	$	23,317	$	2,493	$	144,183

The Company markets produced, processed and purchased coal to customers in the United States and in international markets, primarily India, Brazil, Turkey, Netherlands, and Italy. Export coal revenues were the following:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2020			2019			2020			2019
Total coal revenues	$	399,954		$	523,987		$	1,278,935		$	1,784,775
Export coal revenues (1)	$	209,046		$	261,815		$	718,058		$	967,959
Export coal revenues as % of total coal revenues	52		%	50		%	56		%	54		%

(1) The amounts for the three months ended September 30, 2020 include $57,740 of export coal revenues from external customers in India, recorded within the CAPP - Met and CAPP - Thermal segments. The amounts for the nine months ended September 30, 2020 include $174,182 and $133,501 of export coal revenues from external customers in India and Brazil, respectively, recorded within the CAPP - Met, CAPP - Thermal, and NAPP segments. The amounts for the nine months ended September 30, 2019 include $228,754 of export coal revenues from external customers in India recorded within the CAPP - Met, CAPP - Thermal, and NAPP segments. Revenue is tracked within the Company’s accounting records based on the product destination.

Reconciliation of Net Income (Loss) to Adjusted EBITDA

The following table presents a reconciliation of net income (loss) to Adjusted EBITDA for the three months ended September 30, 2020:

	Three Months Ended September 30, 2020
	CAPP - Met		CAPP - Thermal		NAPP		All Other		Consolidated
Net (loss) income from continuing operations	$	(29,545)	$	(3,815)	$	149	$	(35,426)	$	(68,637)
Interest expense	(189)		2		(357)		18,933		18,389
Interest income	(3)		—		(1)		(374)		(378)
Income tax benefit	—		—		—		(45)		(45)
Depreciation, depletion and amortization	41,177		7,313		1,504		745		50,739
Non-cash stock compensation expense	105		—		—		973		1,078
Mark-to-market adjustment - acquisition-related obligations	—		—		—		3,624		3,624
Accretion on asset retirement obligations	3,767		2,406		2,424		530		9,127
Asset impairment and restructuring (1)	—		(265)		3,386		450		3,571
Amortization of acquired intangibles, net	2,535		(486)		145		25		2,219
Adjusted EBITDA	$	17,847	$	5,155	$	7,250	$	(10,565)	$	19,687

(1) Asset impairment and restructuring for the three months ended September 30, 2020 includes long-lived asset impairments of $3,516 as a result of capital spending during the quarter at previously impaired locations requiring the impairment of certain additional assets not considered recoverable and restructuring expense of $55 as a result of the strategic actions with respect to two thermal coal mining complexes announced during the second quarter of 2020. Refer to Note 8 for further information.

The following table presents a reconciliation of net income (loss) to Adjusted EBITDA for the three months ended September 30, 2019:

	Three Months Ended September 30, 2019
	CAPP - Met		CAPP - Thermal		NAPP		All Other		Consolidated
Net income (loss) from continuing operations	$	13,033	$	(11,338)	$	(12,304)	$	(32,952)	$	(43,561)
Interest expense	84		6		1		18,756		18,847
Interest income	(4)		—		(15)		(1,744)		(1,763)
Income tax benefit	—		—		—		(3,102)		(3,102)
Depreciation, depletion and amortization	38,212		13,972		6,241		2,417		60,842
Merger-related costs	—		—		—		68		68
Non-cash stock compensation expense	348		3		—		2,387		2,738
Mark-to-market adjustment - acquisition-related obligations	—		—		—		(3,238)		(3,238)
Accretion on asset retirement obligations	2,326		2,670		1,017		833		6,846
Asset impairment	32		—		—		—		32
Amortization of acquired intangibles, net	4,765		(3,359)		908		—		2,314
Adjusted EBITDA	$	58,796	$	1,954	$	(4,152)	$	(16,575)	$	40,023

The following table presents a reconciliation of net income (loss) to Adjusted EBITDA for the nine months ended September 30, 2020:

	Nine Months Ended September 30, 2020
	CAPP - Met		CAPP - Thermal		NAPP		All Other		Consolidated
Net loss from continuing operations	$	(67,996)	$	(37,711)	$	(158,983)	$	(82,056)	$	(346,746)
Interest expense	(1,495)		6		(1,431)		57,728		54,808
Interest income	(63)		—		(15)		(6,811)		(6,889)
Income tax benefit	—		—		—		(2,200)		(2,200)
Depreciation, depletion and amortization	121,699		19,422		10,525		2,820		154,466
Non-cash stock compensation expense	410		8		—		3,782		4,200
Mark-to-market adjustment - acquisition-related obligations	—		—		—		(13,425)		(13,425)
Accretion on asset retirement obligations	10,786		7,025		3,963		2,032		23,806
Asset impairment and restructuring (1)	32,951		20,188		165,866		2,448		221,453
Management restructuring costs (2)	501		5		6		435		947
Loss on partial settlement of benefit obligations	—		—		—		1,230		1,230
Amortization of acquired intangibles, net	7,875		(3,484)		714		75		5,180
Adjusted EBITDA	$	104,668	$	5,459	$	20,645	$	(33,942)	$	96,830

(1) Asset impairment and restructuring for the nine months ended September 30, 2020 includes long-lived asset impairments of $198,963 and restructuring expense of $22,490 as a result of weakened coal prices and the strategic actions with respect to two thermal coal mining complexes announced during the second quarter of 2020 and capital spending during the third quarter of 2020 at previously impaired locations requiring the impairment of certain additional assets not considered recoverable. Refer to Note 8 for further information.

(2) Management restructuring costs are related to severance expense associated with senior management changes during the

three months ended March 31, 2020.

The following table presents a reconciliation of net income (loss) to Adjusted EBITDA for the nine months ended September 30, 2019:

	Nine Months Ended September 30, 2019
	CAPP - Met		CAPP - Thermal		NAPP		All Other		Consolidated
Net income (loss) from continuing operations	$	154,020	$	(34,675)	$	(2,118)	$	(128,498)	$	(11,271)
Interest expense	306		16		2		49,755		50,079
Interest income	(12)		—		(38)		(5,534)		(5,584)
Income tax benefit	—		—		—		(8,880)		(8,880)
Depreciation, depletion and amortization	113,714		44,586		19,390		7,237		184,927
Merger related costs	—		—		—		1,055		1,055
Non-cash stock compensation expense	1,127		60		—		6,276		7,463
Mark-to-market adjustment - acquisition-related obligations	—		—		—		(288)		(288)
Accretion on asset retirement obligations	6,986		7,401		3,050		2,488		19,925
Loss on modification and extinguishment of debt	—		—		—		26,459		26,459
Asset impairment (1)	5,858		—		—		—		5,858
Cost impact of coal inventory fair value adjustment (2)	4,751		3,458		—		—		8,209
Gain on assets acquired in an exchange transaction (3)	(9,083)		—		—		—		(9,083)
Amortization of acquired intangibles, net	5,816		(12,142)		1,614		—		(4,712)
Adjusted EBITDA	$	283,483	$	8,704	$	21,900	$	(49,930)	$	264,157

(1) Asset impairment primarily related to the write-off of prepaid purchased coal from Blackjewel as a result of Blackjewel’s Chapter 11 bankruptcy filing on July 1, 2019.

(2) The cost impact of the coal inventory fair value adjustment as a result of the Alpha Merger was completed during the three months ended June 30, 2019.

(3) During the nine months ended September 30, 2019, the Company entered into an exchange transaction which primarily included the release of the PRB overriding royalty interest owed to the Company in exchange for met coal reserves which resulted in a gain of $9,083.