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Coal Workers' Pneumoconiosis and Workers' Compensation
 12 Months Ended
Dec. 31, 2025
Compensation Related Costs [Abstract]  
Coal Workers' Pneumoconiosis And Workers Compensation
NOTE 16—COAL WORKERS' PNEUMOCONIOSIS AND WORKERS' COMPENSATION:
Coal Workers’ Pneumoconiosis
Under the Federal Coal Mine Health and Safety Act of 1969, as amended, the Company is responsible for medical and disability benefits to employees and their dependents resulting from occurrences of coal workers’ pneumoconiosis (“CWP”) disease. The Company is also responsible under various state statutes for CWP benefits. The Company primarily provides for these claims through a self-insurance program. The calculation of the actuarial present value of the estimated CWP obligation is based on an annual actuarial study by independent actuaries and uses assumptions regarding disability incidence, medical costs, indemnity levels, mortality, death benefits, dependents and interest rates, which are derived from actual company experience and outside sources. Actuarial gains or losses can result from discount rate changes, differences in incident rates and severity of claims filed as compared to original assumptions.
In December 2024, the Office of Workers’ Compensation Programs (“OWCP”) issued a final rule revising the regulations under the Black Lung Benefits Act related to self-insurance by coal mine operators. Under the new standard, self-insured coal mine operators are required to post additional security for the Black Lung benefit liabilities. The final rule requires a security amount equal to 100% of a self-insured operator’s projected black lung liabilities. The rule became effective on January 13, 2025, and operators were required to remit the increased security amount within one year. The final rule, including any assessments, is subject to appeal. In February 2025, the Company received letters from the OWCP that additional guidance regarding the final rule will be provided at a future date.
Workers’ Compensation
The Company must also compensate individuals who sustain employment-related physical injuries or some types of occupational diseases and, on some occasions, for costs of their rehabilitation. Workers’ compensation programs will also compensate survivors of workers who suffer employment-related deaths. Workers’ compensation laws are administered by state agencies, and each state has its own set of rules and regulations regarding compensation owed to an employee that is injured in the course of employment. The Company primarily provides for these claims through a self-insurance program. The Company recognizes an actuarial present value of the estimated workers’ compensation obligation calculated by independent actuaries. The calculation is based on claims filed and an estimate of claims incurred but not yet reported as well as various assumptions, including discount rate, future healthcare trend rate, benefit duration and recurrence of injuries. Actuarial gains or losses associated with workers’ compensation have resulted from discount rate changes and differences in claims experience and incident rates as compared to prior assumptions.
The reconciliation of changes in the benefit obligation and funded status of these plans is as follows:
CWPWorkers’ Compensation
 December 31,December 31,
 2025202420252024
Change in benefit obligation:    
Benefit obligation at beginning of period$161,878 $170,014 $46,107 $48,153 
State administrative fees and insurance bond premiums— — 1,730 1,837 
Service cost7,812 2,985 6,912 5,857 
Interest cost14,462 8,264 2,220 2,289 
Benefit obligations assumed in Merger118,585 — — — 
Actuarial loss (gain)11,293 (2,145)1,521 1,203 
Benefits paid(28,290)(17,240)(11,682)(13,232)
Benefit obligation at end of period$285,740 $161,878 $46,808 $46,107 
     
Funded status:    
Current assets$— $— $766 $1,000 
Current liabilities(24,539)(16,389)(12,611)(11,056)
Noncurrent liabilities(261,201)(145,489)(34,963)(36,051)
Net obligation recognized$(285,740)$(161,878)$(46,808)$(46,107)
     
Amounts recognized in accumulated other comprehensive (loss) income consist of:    
Net actuarial loss (gain)$12,761 $1,638 $(18,874)$(22,234)
Net amount recognized (before tax effect)$12,761 $1,638 $(18,874)$(22,234)
The components of net periodic benefit cost are as follows:
CWPWorkers’ Compensation
 Year Ended December 31,Year Ended December 31,
 202520242023202520242023
Service cost$7,812 $2,985 $2,313 $6,912 $5,857 $5,597 
Interest cost14,462 8,264 8,285 2,220 2,289 2,514 
Recognized net actuarial loss (gain)170 434 (1,045)(1,839)(2,160)(2,049)
State administrative fees and insurance bond premiums— — — 1,730 1,837 1,953 
Net periodic benefit cost$22,444 $11,683 $9,553 $9,023 $7,823 $8,015 
Insured workers’ compensation fees and assessments6,407 — — 
Total workers’ compensation expense$15,430 $7,823 $8,015 
Service costs, state administrative fees and insurance bond premiums related to CWP and workers’ compensation are reflected in Cost of Sales in the Consolidated Statements of (Loss) Income. All other expenses related to CWP and workers’ compensation are reflected in Non-Service Related Pension and Postretirement Benefit Costs in the Consolidated Statements of (Loss) Income. Amounts reclassified out of accumulated other comprehensive (loss) income are reflected in Non-Service Related Pension and Postretirement Benefit Costs in the Consolidated Statements of (Loss) Income.
The Company utilizes a corridor approach to amortize actuarial gains and losses that have been accumulated under the CWP and Workers’ Compensation plans. Cumulative gains and losses that are in excess of 10% of the greater of either
the estimated liability or the market-related value of plan assets are amortized over the expected average remaining future service of the current active membership of the CWP and Workers’ Compensation plans.
In addition to the obligations included above, the Company also has workers’ compensation obligations related to an insured plan acquired through the Merger. As of December 31, 2025, these obligations totaled $40,971, a portion of which is reimbursable under various insurance policies purchased by the Company totaling $4,480. The insured workers’ compensation fees and assessments associated with these obligations, included in the table above, are reflected in Cost of Sales in the Consolidated Statements of (Loss) Income.
Assumptions
The weighted-average discount rates used to determine benefit obligations and net periodic benefit costs are as follows:
CWPWorkers’ Compensation
 Year Ended December 31,Year Ended December 31,
 202520242023202520242023
Benefit obligations5.57 %5.65 %5.14 %5.36 %5.58 %5.12 %
Net periodic benefit cost5.65 %5.14 %5.40 %5.58 %5.12 %5.38 %
Discount rates are determined using a Company-specific yield curve model (above-mean) developed with the assistance of an external actuary. The Company-specific yield curve models (above-mean) use a subset of the expanded bond universe to determine the Company-specific discount rate. Bonds used in the yield curve are rated AA by Moody’s or Standard & Poor’s as of the measurement date. The yield curve models parallel the plans’ projected cash flows, and the underlying cash flows of the bonds included in the models exceed the cash flows needed to satisfy the Company’s plans.
Cash Flows
The Company does not intend to make contributions to the CWP or Workers’ Compensation plans in 2026, but it intends to pay benefit claims as they become due.
The following benefit payments, which reflect expected future claims as appropriate, are expected to be paid:
 Workers' Compensation
 CWP
Benefits		Total
Benefits		Actuarial
Benefits		Other
Benefits
2026$24,539 $13,460 $11,845 $1,615 
2027$23,669 $15,222 $13,566 $1,656 
2028$22,956 $16,397 $14,700 $1,697 
2029$22,207 $17,182 $15,442 $1,740 
2030$21,682 $17,835 $16,052 $1,783 
Years 2031-2035$108,676 $98,643 $89,036 $9,607