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Leases
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Leases
NOTE 14—LEASES:
The Company has operating leases for mining and other equipment used in operations and office space. Many leases include one or more options to renew, some of which include options to extend, and some leases include options to terminate or buy out the leases within a set period of time. In certain of the Company’s lease agreements, the rental payments are adjusted periodically to reflect actual charges incurred for inflation or changes in other indexes. Historically, many of the Company’s operating lease payments for mining equipment contained a variable component which was calculated based upon production metrics such as feet of advance or raw tonnage mined. While most of the Company’s leases contain clauses regarding the general condition of the equipment upon lease termination, they do not contain residual value guarantees.
The Company determines if an arrangement is an operating or finance lease at inception of the applicable lease. Right of Use (“ROU”) assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent an obligation to make lease payments arising from the lease. ROU assets and lease liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. As most of the Company’s leases do not provide an implicit interest rate, the Company uses its incremental borrowing rate based on the information available on the commencement date in determining the present value of lease payments. The ROU asset also consists of any prepaid lease payments, lease incentives received and costs which will be incurred in exiting a lease. The lease terms used to calculate the ROU asset and related lease liability include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Lease expense for operating leases is recognized on a straight-line basis over the lease term as an operating expense while the expense for finance leases is recognized as depreciation expense and interest expense using the interest method of recognition. Further, the Company made an accounting policy election not to apply the recognition and measurement requirements to short-term leases, defined as leases with an initial term of 12 months or less. For the years ended December 31, 2025, 2024 and 2023, these short-term leases were not material to the Company’s financial statements.
The components of operating lease expense were as follows:
 Year Ended December 31,
 202520242023
Fixed operating lease expense$3,385 $4,850 $6,447 
Variable operating lease expense— 6,373 8,358 
Total operating lease expense$3,385 $11,223 $14,805 
Supplemental cash flow information related to the Company’s operating leases was as follows:
Year Ended December 31,
202520242023
Cash paid for amounts included in the measurement of operating lease liabilities$3,483 $4,787 $6,148 
The following table presents the lease balances within the Consolidated Balance Sheets, the weighted-average lease term and the weighted-average discount rate related to the Company’s operating leases:
  December 31,
Lease Assets and LiabilitiesBalance Sheet Classification20252024
Assets: 
Operating Lease ROU AssetsOther Noncurrent Assets, net$12,520 $5,513 
    
Liabilities: 
Current:   
Operating Lease LiabilitiesOther Accrued Liabilities$2,624 $612 
Long-Term:   
Operating Lease LiabilitiesOther Noncurrent Liabilities10,819 5,466 
Total Operating Lease Liabilities$13,443 $6,078 
    
Weighted-average remaining lease term (in years)8.587.92
Weighted-average discount rate7.59 %7.74 %
The Company also enters into finance leases for certain mining equipment and automobiles. Assets arising from finance leases are included in property, plant and equipment-net and the liabilities are included in current portion of long-term debt and long-term debt in the accompanying Consolidated Balance Sheets.
The components of finance lease expense were as follows:
 Year Ended December 31,
 202520242023
Amortization of right of use assets$13,147 $9,814 $25,400 
Interest expense2,526 1,079 1,712 
Total finance lease expense$15,673 $10,893 $27,112 
The following table presents the weighted-average lease term and weighted-average discount rate related to the Company’s finance leases:
December 31,
 20252024
Weighted-average remaining lease term (in years)2.662.93
Weighted-average discount rate6.60 %6.59 %
The following table presents the future maturities of the Company’s operating and finance lease liabilities, together with the present value of the net minimum lease payments, at December 31, 2025:
 Finance
Leases		Operating
Leases
2026$23,824 $3,529 
202723,639 2,507 
202814,593 1,345 
2029854 1,368 
203060 1,391 
Thereafter— 8,482 
Total minimum lease payments62,970 18,622 
Less: amount representing interest5,304 5,179 
Present value of minimum lease payments$57,666 $13,443 
Leases
NOTE 14—LEASES:
The Company has operating leases for mining and other equipment used in operations and office space. Many leases include one or more options to renew, some of which include options to extend, and some leases include options to terminate or buy out the leases within a set period of time. In certain of the Company’s lease agreements, the rental payments are adjusted periodically to reflect actual charges incurred for inflation or changes in other indexes. Historically, many of the Company’s operating lease payments for mining equipment contained a variable component which was calculated based upon production metrics such as feet of advance or raw tonnage mined. While most of the Company’s leases contain clauses regarding the general condition of the equipment upon lease termination, they do not contain residual value guarantees.
The Company determines if an arrangement is an operating or finance lease at inception of the applicable lease. Right of Use (“ROU”) assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent an obligation to make lease payments arising from the lease. ROU assets and lease liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. As most of the Company’s leases do not provide an implicit interest rate, the Company uses its incremental borrowing rate based on the information available on the commencement date in determining the present value of lease payments. The ROU asset also consists of any prepaid lease payments, lease incentives received and costs which will be incurred in exiting a lease. The lease terms used to calculate the ROU asset and related lease liability include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Lease expense for operating leases is recognized on a straight-line basis over the lease term as an operating expense while the expense for finance leases is recognized as depreciation expense and interest expense using the interest method of recognition. Further, the Company made an accounting policy election not to apply the recognition and measurement requirements to short-term leases, defined as leases with an initial term of 12 months or less. For the years ended December 31, 2025, 2024 and 2023, these short-term leases were not material to the Company’s financial statements.
The components of operating lease expense were as follows:
 Year Ended December 31,
 202520242023
Fixed operating lease expense$3,385 $4,850 $6,447 
Variable operating lease expense— 6,373 8,358 
Total operating lease expense$3,385 $11,223 $14,805 
Supplemental cash flow information related to the Company’s operating leases was as follows:
Year Ended December 31,
202520242023
Cash paid for amounts included in the measurement of operating lease liabilities$3,483 $4,787 $6,148 
The following table presents the lease balances within the Consolidated Balance Sheets, the weighted-average lease term and the weighted-average discount rate related to the Company’s operating leases:
  December 31,
Lease Assets and LiabilitiesBalance Sheet Classification20252024
Assets: 
Operating Lease ROU AssetsOther Noncurrent Assets, net$12,520 $5,513 
    
Liabilities: 
Current:   
Operating Lease LiabilitiesOther Accrued Liabilities$2,624 $612 
Long-Term:   
Operating Lease LiabilitiesOther Noncurrent Liabilities10,819 5,466 
Total Operating Lease Liabilities$13,443 $6,078 
    
Weighted-average remaining lease term (in years)8.587.92
Weighted-average discount rate7.59 %7.74 %
The Company also enters into finance leases for certain mining equipment and automobiles. Assets arising from finance leases are included in property, plant and equipment-net and the liabilities are included in current portion of long-term debt and long-term debt in the accompanying Consolidated Balance Sheets.
The components of finance lease expense were as follows:
 Year Ended December 31,
 202520242023
Amortization of right of use assets$13,147 $9,814 $25,400 
Interest expense2,526 1,079 1,712 
Total finance lease expense$15,673 $10,893 $27,112 
The following table presents the weighted-average lease term and weighted-average discount rate related to the Company’s finance leases:
December 31,
 20252024
Weighted-average remaining lease term (in years)2.662.93
Weighted-average discount rate6.60 %6.59 %
The following table presents the future maturities of the Company’s operating and finance lease liabilities, together with the present value of the net minimum lease payments, at December 31, 2025:
 Finance
Leases		Operating
Leases
2026$23,824 $3,529 
202723,639 2,507 
202814,593 1,345 
2029854 1,368 
203060 1,391 
Thereafter— 8,482 
Total minimum lease payments62,970 18,622 
Less: amount representing interest5,304 5,179 
Present value of minimum lease payments$57,666 $13,443