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Segment Information
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Segment Information NOTE 23—SEGMENT INFORMATION:
Prior to the completion of the Merger, the Company consisted of two reportable segments, the PAMC segment and the Core Marine Terminal segment. Following completion of the Merger, the Company adjusted its internal reporting structure and the Company’s CODM changed the manner in which he measures financial performance and allocates resources. Thus, the Company reassessed its reporting segments, and the Company now consists of four reportable segments: (1) the High CV Thermal segment; (2) the Metallurgical segment; (3) the Powder River Basin (“PRB”) segment; and (4) the Core Marine Terminal segment. Accordingly, the manner in which the Company reports its operations has been changed retrospectively, and all relevant prior period amounts have been recast to reflect this change.
The Company reports segment information based on the “management” approach. The management approach designates the internal reporting used by management to make decisions on and assess performance of the Company’s reportable segments. The Company manages its segments by market and coal quality, not by individual mining complex or geographic region. The High CV Thermal segment contains the Company’s High CV Thermal operations in Pennsylvania,
West Virginia, and Colorado; the Metallurgical segment contains the Company’s metallurgical operations in West Virginia; the PRB segment contains the Company’s surface mining complexes in Wyoming; and the Core Marine Terminal segment contains the Company’s coal export terminal operations in the Port of Baltimore.
The Company’s CODM is the chief executive officer, who utilizes Adjusted EBITDA to monitor each segment. Adjusted EBITDA removes financial activity not related to ongoing operations, which allows for a review of more streamlined operating results. It is used by the CODM to review the budget versus actual results and to evaluate the operating performance of each segment. This review and evaluation is utilized by the CODM to determine the best allocation of resources across the segments and for other business purposes.
Reportable segment results for the year ended December 31, 2025 are:
High CV ThermalMetallurgicalPRBCore Marine TerminalTotal
Revenues from External Customers$2,208,643 $1,202,055 $718,783 $21,477 
Intersegment Revenues— — — 66,203 
2,208,643 1,202,055 718,783 87,680 $4,217,161 
Reconciliation of Revenue
Other Revenues (a)
13,817 
Elimination of Intersegment Revenues(66,203)
Total Consolidated Revenues4,164,775 
Less: (b)
Cash Costs of Revenue1,252,525 868,839 643,601 30,841 
Transportation Costs364,888 276,935 11,317 — 
Other Segment Items (c)
11,124 81,936 — — 
Adjusted EBITDA$580,106 $(25,655)$63,865 $56,839 $675,155 
Reconciliation of segment profit or loss measure to consolidated loss before income tax:
Other Profit or Loss (a)
2,940 
Depreciation, Depletion and Amortization(621,067)
General and Administrative Costs(214,856)
Interest Expense(40,124)
Interest Income25,890 
Loss on Debt Extinguishment(11,680)
Non-Service Related Pension and Postretirement Benefit Costs(25,728)
Idle Mine Costs(24,145)
Other Operating Income, net33,904 
Other Costs(33,992)
Loss Before Income Tax$(233,703)
(a) Revenue and profit or loss from segments below the quantitative thresholds are attributable to the revenue and expense from various corporate and diversified business activities excluded from our reportable segments.
(b) The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.
(c) Other segment items include other non-operating income and expenses that are not part of each segment’s ongoing operations.
High CV ThermalMetallurgicalPRBCore Marine Terminal
Corporate and Other (a)
Consolidated
Segment Assets (b)
$2,107,970 $2,020,450 $261,193 $91,930 $1,648,510 $6,130,053 
Depreciation, Depletion and Amortization$207,891 $252,882 $33,177 $5,621 $121,496 $621,067 
Capital Expenditures$174,153 $73,107 $8,126 $7,473 $21,722 $284,581 
(a) Includes various corporate and diversified business activities excluded from our reportable segments to reconcile to consolidated totals.
(b) Represents assets as of December 31, 2025.
Reportable segment results for the year ended December 31, 2024 are:
High CV ThermalMetallurgicalPRBCore Marine TerminalTotal
Revenues from External Customers$2,004,567 $113,067 $— $31,064 
Intersegment Revenues— — — 56,682 
2,004,567 113,067 — 87,746 $2,205,380 
Reconciliation of Revenue
Other Revenues (a)
15,708 
Elimination of Intersegment Revenues(56,682)
Total Consolidated Revenues2,164,406 
Less: (b)
Cash Costs of Revenue973,139 128,445 — 27,372 
Transportation Costs321,367 9,341 — — 
Other Segment Items (c)
— (390)— — 
Adjusted EBITDA$710,061 $(24,329)$— $60,374 $746,106 
Reconciliation of segment profit or loss measure to consolidated earnings before income tax:
Other Profit or Loss (a)
4,731 
Depreciation, Depletion and Amortization(223,526)
General and Administrative Costs(115,224)
Interest Expense(22,192)
Interest Income19,223 
Non-Service Related Pension and Postretirement Benefit Costs(17,384)
Idle Mine Costs(4,859)
Other Operating Expense, net(43,224)
Other Costs(13,004)
Earnings Before Income Tax$330,647 
(a) Revenue and profit or loss from segments below the quantitative thresholds are attributable to the revenue and expense from various corporate and diversified business activities excluded from our reportable segments.
(b) The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.
(c) Other segment items include other non-operating income and expenses that are not part of each segment’s ongoing operations.
High CV ThermalMetallurgicalPRBCore Marine Terminal
Corporate and Other (a)
Consolidated
Segment Assets (b)
$1,739,792 $140,798 $— $88,146 $910,807 $2,879,543 
Depreciation, Depletion and Amortization$172,997 $8,635 $— $4,889 $37,005 $223,526 
Capital Expenditures$149,021 $13,614 $— $8,350 $7,003 $177,988 
(a) Includes various corporate and diversified business activities excluded from our reportable segments to reconcile to consolidated totals.
(b) Represents assets as of December 31, 2024.
Reportable segment results for the year ended December 31, 2023 are:
High CV ThermalMetallurgicalPRBCore Marine TerminalTotal
Revenues from External Customers$2,359,796 $98,939 $— $47,900 
Intersegment Revenues— — — 58,266 
2,359,796 98,939 — 106,166 $2,564,901 
Reconciliation of Revenue
Elimination of Intersegment Revenues(58,266)
Total Consolidated Revenues2,506,635 
Less: (b)
Cash Costs of Revenue939,892 98,803 — 27,259 
Transportation Costs335,186 17,183 — — 
Other Segment Items (c)
(429)(73)— — 
Adjusted EBITDA$1,085,147 $(16,974)$— $78,907 $1,147,080 
Reconciliation of segment profit or loss measure to consolidated earnings before income tax:
Other Profit or Loss (a)
(663)
Depreciation, Depletion and Amortization(241,317)
General and Administrative Costs(103,470)
Interest Expense(29,325)
Interest Income13,597 
Loss on Debt Extinguishment(2,725)
Non-Service Related Pension and Postretirement Benefit Costs(7,011)
Idle Mine Costs(4,515)
Other Operating Income, net19,111 
Other Costs(12,890)
Earnings Before Income Tax$777,872 
(a) Profit or loss from segments below the quantitative thresholds are attributable to the revenue and expense from various corporate and diversified business activities excluded from our reportable segments.
(b) The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.
(c) Other segment items include other non-operating income and expenses that are not part of each segment’s ongoing operations.
High CV ThermalMetallurgicalPRBCore Marine Terminal
Corporate and Other (a)
Consolidated
Segment Assets (b)
$1,582,434 $126,865 $— $83,322 $882,382 $2,675,003 
Depreciation, Depletion and Amortization$191,391 $8,235 $— $4,227 $37,464 $241,317 
Capital Expenditures$144,550 $12,656 $— $4,568 $6,017 $167,791 
(a) Includes various corporate and diversified business activities excluded from our reportable segments to reconcile to consolidated totals.
(b) Represents assets as of December 31, 2023.
Revenues from customers that exceeded 10% of consolidated revenues were as follows:
 Year Ended December 31,
 202520242023
Customer A (a)
(b)$240,990 $283,115 
Customer B (a)
(b)$220,537 $286,041 
(a) Revenues from this customer were principally included in the High CV Thermal segment.
(b) Revenues during these periods were less than 10% of the Company’s consolidated revenues.
Enterprise-Wide Disclosures
For the year ended December 31, 2025, the U.S. was attributed greater than 40% of total revenue, and India was attributed greater than 10% of total revenue. For the year ended December 31, 2024, India and the U.S. were each attributed greater than 30% of total revenue, and China was attributed greater than 10% of total revenue. For the year ended December 31, 2023, India and the U.S. were each attributed greater than 30% of total revenue.
The Company’s property, plant and equipment is predominantly located in the U.S. At December 31, 2025 and 2024, less than 1% of the Company’s net property, plant and equipment was located in Canada.