Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Components of Income Tax Expense (Benefit)

The components of income tax expense were as follows:


	For the Years Ended December 31,
	2023		2022		2021
Current:
U.S. Federal	$	100,572	$	45,068	$	13,769
U.S. State	7,287		7,238		2,145
Non-U.S.	—		(235)		143
	107,859		52,071		16,057
Deferred:
U.S. Federal	12,528		37,154		(16,657)
U.S. State	1,593		12,233		1,897
	14,121		49,387		(14,760)

Total Income Tax Expense	$	121,980	$	101,458	$	1,297

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of income tax expense and the amount computed by applying the statutory federal income tax rate of 21% to income from operations before income tax is:


	For the Years Ended December 31,
	2023				2022				2021
	Amount		Percent		Amount		Percent		Amount		Percent
Statutory U.S. federal income tax rate	$	163,353	21.0	%	$	119,372	21.0	%	$	7,436	21.0	%
State income taxes, net of federal tax benefit	7,618		1.0		11,110		2.0		(642)		(1.8)
Effect of foreign income taxes	—		—		(241)		—		125		0.4
Excess tax depletion	(26,802)		(3.5)		(32,431)		(5.7)		(10,535)		(29.8)
Foreign derived intangible income	(23,545)		(3.0)		(4,906)		(0.9)		—		—
Uncertain tax positions	36		—		(792)		(0.1)		1,473		4.2
Compensation	2,284		0.3		4,178		0.7		3,192		9.0
Valuation allowance	—		—		(937)		(0.2)		(544)		(1.5)
Tax credits	(700)		(0.1)		(350)		(0.1)		(210)		(0.6)
State rate change and prior period adjustments	(809)		(0.1)		5,397		0.9		642		1.8
Other	545		0.1		1,058		0.2		360		1.0
Income Tax Expense / Effective Rate	$	121,980	15.7	%	$	101,458	17.8	%	$	1,297	3.7	%

Schedule of Deferred Tax Assets and Liabilities

Significant components of deferred tax assets and liabilities were as follows:


	December 31,
	2023		2022
Deferred Tax Asset:
Postretirement benefits other than pensions	$	47,730	$	56,119
Asset retirement obligations	41,400		44,680
Pneumoconiosis benefits	33,867		33,946
Compensation	8,317		8,826
Workers' compensation	6,461		7,099
State bonus, net of Federal	1,917		2,973
Long-term disability	1,280		1,463
Operating lease liability	1,033		46
Net operating loss	238		211
Financing	124		838
Other	8,910		4,957
Total Deferred Tax Asset	151,277		161,158
Valuation Allowance	—		—
Net Deferred Tax Asset	151,277		161,158

Deferred Tax Liability:
Equity Partnerships	(122,220)		(118,231)
Property, plant and equipment	(52,409)		(54,322)
Advance mining royalties	(6,476)		(6,782)
Salary retirement	(5,468)		(3,737)
Right of use assets	(923)		—
Total Deferred Tax Liability	(187,496)		(183,072)

Net Deferred Tax Liability	$	(36,219)	$	(21,914)

Schedule of Unrecognized Tax Benefits Roll Forward

For the years ended December 31, 2023 and 2022, a reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:


	December 31,
	2023		2022

Balance at January 1	$	1,941	$	3,633
Additions based on tax positions related to the current year	22		384
Additions for tax positions of prior years	24		—
Reductions for tax positions of prior years	—		(1,168)
Reductions due to the statute of limitations	—		—
Settlements	—		(908)

Balance at December 31	$	1,987	$	1,941