0001558370-21-009352 | 10-Q | XBRL Viewer

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Cover Page - shares	6 Months Ended
Cover Page - shares	Jun. 30, 2021	Jul. 19, 2021
Cover page.
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2021
Document Transition Report	false
Entity File Number	1-13105
Entity Registrant Name	Arch Resources, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	43-0921172
Entity Address, Address Line One	One CityPlace Drive
Entity Address, Address Line Two	Suite 300
Entity Address, City or Town	St. Louis
Entity Address, State or Province	MO
Entity Address, Postal Zip Code	63141
City Area Code	314
Local Phone Number	994-2700
Title of 12(b) Security	Common stock, $.01 par value
Trading Symbol	ARCH
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business Company	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		15,294,065
Amendment Flag	false
Entity Central Index Key	0001037676
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2

Condensed Consolidated Income Statements - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Statement [Abstract]
Revenues	$ 450,389	$ 319,521	$ 807,932	$ 724,753
Costs, expenses and other operating
Cost of sales (exclusive of items shown separately below)	355,329	316,348	665,235	691,347
Depreciation, depletion and amortization	27,884	30,167	53,681	61,475
Accretion on asset retirement obligations	5,437	4,986	10,874	9,992
Change in fair value of coal derivatives and coal trading activities, net	8,762	(129)	9,290	614
Selling, general and administrative expenses	24,119	19,738	45,599	42,483
Costs related to proposed joint venture with Peabody Energy		7,851		11,515
Asset impairment and restructuring		7,437		13,265
Gain on property insurance recovery related to Mountain Laurel longwall		(14,518)		(23,518)
Gain on divestitures		(1,369)		(1,369)
Other operating income, net	(4,347)	(5,704)	(9,615)	(11,874)
Costs, expenses and other operating	417,184	364,807	775,064	793,930
Income (loss) from operations	33,205	(45,286)	32,868	(69,177)
Interest expense, net
Interest expense	(2,941)	(3,523)	(7,069)	(6,911)
Interest and investment income	147	1,793	474	3,052
Interest expense, net	(2,794)	(1,730)	(6,595)	(3,859)
Income (loss) before nonoperating expenses	30,411	(47,016)	26,273	(73,036)
Nonoperating (expenses) income
Non-service related pension and postretirement benefit costs	(539)	(1,102)	(2,066)	(2,198)
Reorganization items, net				26
Nonoperating (expenses) income	(539)	(1,102)	(2,066)	(2,172)
Income (loss) before income taxes	29,872	(48,118)	24,207	(75,208)
Provision for (benefit from) income taxes	2,006	1,206	2,383	(585)
Net income (loss)	$ 27,866	$ (49,324)	$ 21,824	$ (74,623)
Net income (loss) per common share
Basic earnings (loss) per common share (in dollars per share)	$ 1.82	$ (3.26)	$ 1.43	$ (4.93)
Diluted earnings (loss) per common share (in dollars per share)	$ 1.66	$ (3.26)	$ 1.31	$ (4.93)
Weighted average shares outstanding
Basic weighted average shares outstanding (in shares)	15,294	15,145	15,289	15,142
Diluted weighted average shares outstanding (in shares)	16,756	15,145	16,598	15,142
Dividends declared per common share (in dollars per share)				$ 0.50

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Net income (loss)	$ 27,866	$ (49,324)	$ 21,824	$ (74,623)
Derivative instruments
Comprehensive income (loss) before tax	637	363	1,327	(2,306)
Other comprehensive income (loss), derivative instruments, net of tax	637	363	1,327	(2,306)
Pension, postretirement and other post-employment benefits
Comprehensive income (loss) before tax	3,963	(2,336)	4,510	(16,603)
Other comprehensive income (loss), pension, postretirement and other post-employment benefits, net of tax	3,963	(2,336)	4,510	(16,603)
Available-for-sale securities
Comprehensive income (loss) before tax	(16)	533	84	66
Other comprehensive income (loss), available-for-sale securities, net of tax	(16)	533	84	66
Total other comprehensive income (loss)	4,584	(1,440)	5,921	(18,843)
Total comprehensive income (loss)	$ 32,450	$ (50,764)	$ 27,745	$ (93,466)

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Current assets
Cash and cash equivalents	$ 153,516	$ 187,492
Short-term investments	33,256	96,765
Restricted Cash	7,104	5,953
Trade accounts receivable (net of $0 allowance at June 30, 2021 and December 31, 2020)	160,154	110,869
Other receivables	3,336	3,053
Inventories	162,531	126,008
Other current assets	35,149	58,000
Total current assets	555,046	588,140
Property, plant and equipment
Property, plant and equipment, net	1,102,570	1,007,303
Other assets
Equity investments	74,974	71,783
Other noncurrent assets	62,356	55,246
Total other assets	137,330	127,029
Total assets	1,794,946	1,722,472
Current Liabilities
Accounts payable	116,042	103,743
Accrued expenses and other current liabilities	166,287	155,256
Current maturities of debt	133,812	31,097
Total current liabilities	416,141	290,096
Long-term debt	402,076	477,215
Asset retirement obligations	213,387	230,732
Accrued pension benefits	2,274	2,879
Accrued postretirement benefits other than pension	95,491	94,388
Accrued workers' compensation	249,256	244,695
Other noncurrent liabilities	97,792	98,906
Total liabilities	1,476,417	1,438,911
Stockholders' equity
Common stock, $0.01 par value, authorized 300,000 shares, issued 25,382 and 25,323 shares at June 30, 2021 and December 31, 2020, respectively	254	253
Paid-in capital	774,665	767,484
Retained earnings	400,771	378,906
Treasury stock, 10,088 shares at June 30, 2021 and December 31, 2020, respectively, at cost	(827,381)	(827,381)
Accumulated other comprehensive loss	(29,780)	(35,701)
Total stockholders' equity	318,529	283,561
Total liabilities and stockholders' equity	$ 1,794,946	$ 1,722,472

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Trade accounts receivable, allowance	$ 0	$ 0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	300,000,000	300,000,000
Common stock, shares issued (in shares)	25,382,000	25,323,000
Treasury stock, shares (in shares)	10,088,000	10,088,000

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Operating activities
Net income (loss)	$ 21,824	$ (74,623)
Adjustments to reconcile to cash from operating activities:
Depreciation, depletion and amortization	53,681	61,475
Accretion on asset retirement obligations	10,874	9,992
Deferred income taxes	11	13,880
Employee stock-based compensation expense	8,498	8,936
Amortization relating to financing activities	3,110	1,946
Gain on property insurance recovery related to Mountain Laurel longwall		(23,518)
Gain on disposals and divestitures, net	(413)	(3,180)
Reclamation work completed	(28,218)	(6,207)
Changes in:
Receivables	(49,568)	55,817
Inventories	(36,523)	(23,792)
Accounts payable, accrued expenses and other current liabilities	14,590	(42,889)
Income taxes, net	2,337	22,918
Other	25,906	25,167
Cash provided by operating activities	26,109	25,922
Investing activities
Capital expenditures	(147,957)	(148,561)
Minimum royalty payments	(1,124)	(1,124)
Proceeds from disposals and divestitures	438	562
Purchases of short-term investments		(17,707)
Proceeds from sales of short-term investments	68,986	86,079
Investments in and advances to affiliates, net	(1,114)	(1,059)
Proceeds from property insurance recovery related to Mountain Laurel longwall		23,518
Cash used in investing activities	(80,771)	(58,292)
Financing activities
Payments on term loan	(1,500)	(1,500)
Proceeds from equipment financing		53,611
Proceeds from tax exempt bonds	44,985
Net payments on other debt	(18,795)	(13,592)
Debt financing costs	(1,537)	(1,171)
Dividends paid		(7,645)
Payments for taxes related to net share settlement of equity awards	(1,316)	(331)
Cash provided by financing activities	21,837	29,372
Decrease in cash and cash equivalents, including restricted cash	(32,825)	(2,998)
Cash and cash equivalents, including restricted cash, beginning of period	193,445	153,020
Cash and cash equivalents, including restricted cash, end of period	160,620	150,022
SUPPLEMENTAL CASH FLOW INFORMATION
Cash and cash equivalents	153,516	150,022
Restricted Cash	7,104
Cash and cash equivalents, including restricted cash, end of period	$ 160,620	$ 150,022

Condensed Consolidated Statements of Stockholders' Equity (Deficit) - USD ($) $ in Thousands	Common Stock	Paid-in Capital	Retained Earnings	Treasury Stock, at cost	Accumulated Other Comprehensive Income (Loss)	Total
Beginning Balance at Dec. 31, 2019	$ 252	$ 730,551	$ 731,425	$ (827,381)	$ 5,689	$ 640,536
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends on common shares			(7,834)			(7,834)
Total comprehensive income (loss)			(25,299)		(17,403)	(42,702)
Employee stock-based compensation		3,962				3,962
Common stock withheld related to net share settlement of equity awards		(198)				(198)
Ending Balance at Mar. 31, 2020	252	734,315	698,292	(827,381)	(11,714)	593,764
Beginning Balance at Dec. 31, 2019	252	730,551	731,425	(827,381)	5,689	640,536
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Total comprehensive income (loss)						(93,466)
Ending Balance at Jun. 30, 2020	252	739,156	648,909	(827,381)	(13,154)	547,782
Beginning Balance at Mar. 31, 2020	252	734,315	698,292	(827,381)	(11,714)	593,764
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Total comprehensive income (loss)			(49,324)		(1,440)	(50,764)
Employee stock-based compensation		4,891				4,891
Common stock withheld related to net share settlement of equity awards		(50)				(50)
Dividend Equivalents earned on RSU grants			(59)			(59)
Ending Balance at Jun. 30, 2020	252	739,156	648,909	(827,381)	(13,154)	547,782
Beginning Balance at Dec. 31, 2020	253	767,484	378,906	(827,381)	(35,701)	283,561
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Total comprehensive income (loss)			(6,042)		1,337	(4,705)
Employee stock-based compensation		3,885	18			3,903
Issuance of shares of common stock under long-term incentive plan	1					1
Common stock withheld related to net share settlement of equity awards		(1,317)				(1,317)
Ending Balance at Mar. 31, 2021	254	770,052	372,882	(827,381)	(34,364)	281,443
Beginning Balance at Dec. 31, 2020	253	767,484	378,906	(827,381)	(35,701)	283,561
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Total comprehensive income (loss)						27,745
Ending Balance at Jun. 30, 2021	254	774,665	400,771	(827,381)	(29,780)	318,529
Beginning Balance at Mar. 31, 2021	254	770,052	372,882	(827,381)	(34,364)	281,443
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Total comprehensive income (loss)			27,866		4,584	32,450
Employee stock-based compensation		4,613	23			4,636
Ending Balance at Jun. 30, 2021	$ 254	$ 774,665	$ 400,771	$ (827,381)	$ (29,780)	$ 318,529

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

+ References + Details

Condensed Consolidated Statements of Stockholders' Equity (Deficit) (Parenthetical)	3 Months Ended
	Mar. 31, 2021 shares
Statement of Stockholders' Equity [Abstract]
Issuance of shares of common stock under long-term incentive plan (in shares)	59,166

Basis of Presentation

6 Months Ended

Jun. 30, 2021

Basis of Presentation

Basis of Presentation

1. Basis of Presentation

The accompanying unaudited condensed consolidated financial statements include the accounts of Arch Resources, Inc. (“Arch Resources”) and its subsidiaries (“Arch” or the “Company”). Unless the context indicates otherwise, the terms “Arch” and the “Company” are used interchangeably in this Quarterly Report on Form 10-Q. The Company’s primary business is the production of metallurgical and thermal coal from underground and surface mines located throughout the United States, for sale to steel producers, utility companies, and industrial accounts both in the United States and around the world. The Company currently operates mining complexes in West Virginia, Wyoming and Colorado. All subsidiaries are wholly owned. Intercompany transactions and accounts have been eliminated in consolidation.

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial reporting and U.S. Securities and Exchange Commission regulations. In the opinion of management, all adjustments, consisting of normal, recurring accruals considered necessary for a fair presentation, have been included. Results of operations for the three and six months ended June 30, 2021 are not necessarily indicative of results to be expected for the year ending December 31, 2021. These financial statements should be read in conjunction with the audited financial statements and related notes as of and for the year ended December 31, 2020 included in the Company’s Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission.

Accounting Policies

6 Months Ended

Jun. 30, 2021

Accounting Policies

Accounting Policies

2. Accounting Policies

Recently Adopted Accounting Guidance

In March 2020, the FASB issued ASU 2020-04, "Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting." The amendments provide optional guidance for a limited time to ease the potential burden in accounting for reference rate reform. The new guidance provides optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships and other transactions affected by reference rate reform if certain criteria are met. The amendments apply only to contracts and hedging relationships that reference the London interbank offered rate (“LIBOR”) or another reference rate expected to be discontinued due to reference rate reform. These amendments are effective immediately and may be applied prospectively to contract modifications made and hedging relationships entered into or evaluated on or before December 31, 2022. We are currently evaluating our contracts and the optional expedients provided by the new standard.

In December 2019, the FASB issued ASU 2019-12, “Income Taxes (Topic 740) Simplifying the Accounting for Income Taxes.” ASU 2019-12 eliminates certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. The ASU is effective for public companies for fiscal years beginning after December 15, 2020, and interim periods therein with early adoption permitted. The Company adopted this ASU with minimal impact to the Company’s financial statements.

Recent Accounting Guidance Issued Not Yet Effective

In August 2020, the FASB issued ASU 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity's Own Equity (Subtopic 815-40)—Accounting for Convertible Instruments and Contracts in an Entity's Own Equity. ASU 2020-06 reduces the number of accounting models for convertible debt instruments and convertible preferred stock. For convertible instruments with conversion features that are not required to be accounted for as derivatives under Topic 815, Derivatives and Hedging, or that do not result in substantial premiums accounted for as paid-in capital, the embedded conversion features no longer are separated from

the host contract. ASU 2020-06 also removes certain conditions that should be considered in the derivatives scope exception evaluation under Subtopic 815-40, Derivatives and Hedging—Contracts in Entity’s Own Equity, and clarify the scope and certain requirements under Subtopic 815-40. In addition, ASU 2020-06 improves the guidance related to the disclosures and earnings-per-share (EPS) for convertible instruments and contract in entity’s own equity. ASU 2020-06 is effective for public business entities that meet the definition of a Securities and Exchange Commission (SEC) filer, excluding entities eligible to be smaller reporting companies as defined by the SEC, for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. The FASB specified that an entity should adopt the guidance as of the beginning of its annual fiscal year. The Company is currently evaluating the impact this ASU will have on its consolidated financial statements.

Joint Venture with Peabody Energy

6 Months Ended

Jun. 30, 2021

Joint Venture with Peabody Energy

Joint Venture with Peabody Energy

3. Joint Venture with Peabody Energy

The Company incurred expenses of $7.9 million and $11.5 million for the three and six months ended June 30, 2020, respectively, associated with the regulatory approval process related to the proposed joint venture with Peabody that was terminated jointly by the parties due to the Federal Trade Commission blocking the joint venture during the third quarter of 2020. No amounts related to the joint venture were incurred for the three and six months ended June 30, 2021.

Gain on Property Insurance Recovery Related to Mountain Laurel Longwall

6 Months Ended

Jun. 30, 2021

Gain on Property Insurance Recovery Related to Mountain Laurel Longwall

Gain on Property Insurance Recovery Related to Mountain Laurel Longwall

4. Gain on Property Insurance Recovery Related to Mountain Laurel Longwall

The Company recorded gains of $14.5 million and $23.5 million related to a property insurance recovery at its Mountain Laurel operation during the three and six months ended June 30, 2020, respectively. As a result of geologic conditions in the final longwall panel, Mountain Laurel was unable to recover 123 of the longwall system’s 176 hydraulic shields. No amounts related to the property insurance recovery were incurred for the three and six months ended June 30, 2021.

Asset Impairment and Restructuring

6 Months Ended

Jun. 30, 2021

Asset Impairment and Restructuring

Asset Impairment and Restructuring

5. Asset Impairment and Restructuring

The Company recorded $7.4 million and $13.3 million of employee severance expense related to a voluntary separation plan that was accepted by 53 members of the corporate staff and 201 employees from the Company’s thermal operations during the three and six months ended June 30, 2020. No amounts related to the employee severance expense were incurred for the three and six months ended June 30, 2021.

Divestitures

6 Months Ended

Jun. 30, 2021

Divestitures

Divestitures

6. Divestitures

During the second quarter of 2020, various Dal-Tex and Briar Branch properties in West Virginia were sold to Condor Holdings, LLC. No consideration was received for the sale and a gain of $1.4 million was recorded representing the net liabilities sold.

Accumulated Other Comprehensive Income (Loss)

6 Months Ended

Jun. 30, 2021

Accumulated Other Comprehensive Income (Loss)

Accumulated Other Comprehensive Income (Loss)

7. Accumulated Other Comprehensive Income (Loss)

The following items are included in accumulated other comprehensive income (loss) (“AOCI”), net of tax:


			Pension,
			Postretirement				Accumulated
			and Other Post-				Other
	Derivative		Employment		Available-for-		Comprehensive
	Instruments		Benefits		Sale Securities		Income (loss)

	(In thousands)
Balance at December 31, 2020	$	(3,891)	$	(31,459)	$	(351)	$	(35,701)
Unrealized losses		71		4,404		108		4,583
Amounts reclassified from accumulated other comprehensive income (loss)		1,256		106		(24)		1,338
Balance at June 30, 2021	$	(2,564)	$	(26,949)	$	(267)	$	(29,780)

The following amounts were reclassified out of AOCI:


	Three Months Ended June 30,				Six Months Ended June 30,				Line Item in the Condensed Consolidated
Details About AOCI Components	2021		2020		2021		2020		Statements of Operations

	(In thousands)
Coal hedges	$	—	$	196	$	—	$	196
Interest rate hedges		(632)		(648)		(1,256)		(864)	Interest expense
		—		—		—		—	Provision for (benefit from) income taxes
	$	(632)	$	(452)	$	(1,256)	$	(668)	Net of tax

Pension, postretirement and other post-employment benefits
Amortization of actuarial gains (losses), net ¹	$	(590)	$	232	$	(1,181)	$	466	Non-service related pension and postretirement benefit (costs) credits
Amortization of prior service credits		43		27		87		54	Non-service related pension and postretirement benefit (costs) credits
Pension settlement		988		134		988		130	Non-service related pension and postretirement benefit (costs) credits
		—		—		—		—	Provision for (benefit from) income taxes
	$	441	$	393	$	(106)	$	650	Net of tax

Available-for-sale securities ²	$	14	$	141	$	24	$	140	Interest and investment income
		—		—		—		—	Provision for (benefit from) income taxes
	$	14	$	141	$	24	$	140	Net of tax

¹ Production-related benefits and workers’ compensation costs are included in costs to produce coal.

² The gains and losses on sales of available-for-sale-securities are determined on a specific identification basis.

Inventories

6 Months Ended

Jun. 30, 2021

Inventories

Inventories

8. Inventories

Inventories consist of the following:


	June 30,		December 31,
	2021		2020

	(In thousands)
Coal	$	79,620	$	49,436
Repair parts and supplies		82,911		76,572
	$	162,531	$	126,008

The repair parts and supplies are stated net of an allowance for slow-moving and obsolete inventories of $0.7 million at June 30, 2021 and $0.6 million at December 31, 2020.

Investments in Available-for-Sale Securities

6 Months Ended

Jun. 30, 2021

Investments in Available-for-Sale Securities

Investments in Available-for-Sale Securities

9. Investments in Available-for-Sale Securities

The Company has invested in marketable debt securities, primarily highly liquid U.S. Treasury securities and investment grade corporate bonds. These investments are held in the custody of a major financial institution. These securities are classified as available-for-sale securities and, accordingly, the unrealized gains and losses are recorded through other comprehensive income.

The Company’s investments in available-for-sale marketable securities are as follows:


	June 30, 2021

			Gross					Allowance
			Unrealized					for - Credit	Fair
	Cost Basis		Gains		Losses			Losses	Value

	(In thousands)
Available-for-sale:
U.S. government and agency securities	$	11,174	$	—	$	(91)	$	—	$	11,083
Corporate notes and bonds		22,349		—		(176)		—		22,173
Total Investments	$	33,523	$	—	$	(267)	$	—	$	33,256


	December 31, 2020

			Gross					Allowance
			Unrealized					for - Credit	Fair
	Cost Basis		Gains			Losses		Losses	Value

	(In thousands)
Available-for-sale:
U.S. government and agency securities	$	57,299	$	11	$	(86)	$	—	$	57,224
Corporate notes and bonds		39,817		1		(277)		—		39,541
Total Investments	$	97,116	$	12	$	(363)	$	—	$	96,765

The aggregate fair value of investments with unrealized losses that were owned for less than a year was $32.3 million and $45.3 million at June 30, 2021 and December 31, 2020, respectively. The aggregate fair value of investments with unrealized losses that were owned for over a year was $0.0 million and $8.1 million at June 30, 2021 and December 31, 2020, respectively. The unrealized losses in the Company’s portfolio at June 30, 2021 are the result of normal market fluctuations. The Company does not currently intend to sell these investments before recovery of their amortized cost base.

The debt securities outstanding at June 30, 2021 have maturity dates ranging from the third quarter of 2021 through the first quarter of 2022. The Company classifies its investments as current based on the nature of the investments and their availability to provide cash for use in current operations.

Derivatives

6 Months Ended

Jun. 30, 2021

Derivatives

Derivatives

10. Derivatives

Interest rate risk management

The Company has entered into interest rate swaps to reduce the variability of cash outflows associated with interest payments on its variable rate term loan. These swaps have been designated as cash flow hedges. For additional information on these arrangements, see Note 12, “Debt and Financing Arrangements,” in the Condensed Consolidated Financial Statements.

Diesel fuel price risk management

The Company is exposed to price risk with respect to diesel fuel purchased for use in its operations. The Company anticipates purchasing approximately 30 to 35 million gallons of diesel fuel for use in its operations during 2021. To protect the Company’s cash flows from increases in the price of diesel fuel for its operations, the Company uses forward physical diesel purchase contracts and purchased heating oil call options. At June 30, 2021, the Company had no heating oil call options outstanding.

Coal price risk management positions

The Company may sell or purchase forward contracts, swaps and options in the over-the-counter coal market in order to manage its exposure to coal prices. The Company has exposure to the risk of fluctuating coal prices related to forecasted, index-priced sales or purchases of coal or to the risk of changes in the fair value of a fixed price physical sales contract. Certain derivative contracts may be designated as hedges of these risks.

At June 30, 2021, the Company held derivatives for risk management purposes that are expected to settle in the following years:


(Tons in thousands)	2021	2022	Total
Coal sales	535	33	568
Coal purchases	121	33	154

Coal trading positions

The Company may sell or purchase forward contracts, swaps and options in the over-the-counter coal market for trading purposes. The Company is exposed to the risk of changes in coal prices on the value of its coal trading portfolio. The unrecognized gains of $0.2 million in the trading portfolio are expected to be realized during the remainder of 2021.

Tabular derivatives disclosures

The Company has master netting agreements with all of its counterparties which allow for the settlement of contracts in an asset position with contracts in a liability position in the event of default or termination. Such netting arrangements reduce the Company’s credit exposure related to these counterparties. For classification purposes, the Company records the net fair value of all the positions with a given counterparty as a net asset or liability in the Condensed Consolidated Balance Sheets. The amounts shown in the table below represent the fair value position of individual contracts, and not the net position presented in the accompanying Condensed Consolidated Balance Sheets.

The fair value and location of derivatives reflected in the accompanying Condensed Consolidated Balance Sheets are as follows:


	June 30, 2021						December 31, 2020
Fair Value of Derivatives	Asset		Liability				Asset		Liability
(In thousands)	Derivative		Derivative				Derivative		Derivative
Derivatives Designated as Hedging Instruments
Coal	$	—	$	—			$	—	$	—

Derivatives Not Designated as Hedging Instruments
Heating oil -- diesel purchases		—		—				237		—
Coal -- held for trading purposes		5,394		(5,234)				1,914		(1,595)
Coal -- risk management		4,059		(13,059)				1,094		(804)
Total	$	9,453	$	(18,293)			$	3,245	$	(2,399)
Total derivatives	$	9,453	$	(18,293)			$	3,245	$	(2,399)
Effect of counterparty netting		(9,453)		9,453				(2,392)		2,392
Net derivatives as classified in the balance sheets	$	—	$	(8,840)	$	(8,840)	$	853	$	(7)	$	846


		June 30,		December 31,
		2021		2020
Net derivatives as reflected on the balance sheets (in thousands)
Heating Oil and coal	Other current assets	$	—	$	853
Coal	Accrued expenses and other current liabilities		(8,840)		(7)
		$	(8,840)	$	846

The Company had a current asset representing cash collateral posted to a margin account for derivative positions primarily related to coal derivatives of $10.5 million and $1.4 million at June 30, 2021 and December 31, 2020, respectively. These amounts are not included with the derivatives presented in the table above and are included in “other current assets” in the accompanying Condensed Consolidated Balance Sheets.

The effects of derivatives on measures of financial performance are as follows:

Derivatives used in Cash Flow Hedging Relationships (in thousands)

Three Months Ended June 30,


		Gain (Loss) Recognized in Other Comprehensive Income				Gains (Losses) Reclassified from Other Comprehensive Income into Income
		2021		2020		2021		2020
Coal sales	⁽¹⁾	$	—	$	440	$	—	$	(902)
Coal purchases	⁽²⁾		—		(439)		—		706
Totals		$	—	$	1	$	—	$	(196)

At June 30, 2021, the Company did not have any derivative contracts designated as hedging instruments.

Derivatives Not Designated as Hedging Instruments (in thousands)

Three Months Ended June 30,


		Gain (Loss) Recognized
			2021		2020
Coal trading — realized and unrealized	⁽³⁾	$	—	$	—
Coal risk management — unrealized	⁽³⁾		(8,762)		129
Natural gas trading— realized and unrealized	⁽³⁾		—		—
Change in fair value of coal derivatives and coal trading activities, net total		$	(8,762)	$	129

Coal risk management— realized	⁽⁴⁾	$	(651)	$	2,756
Heating oil — diesel purchases	⁽⁴⁾	$	—	$	328

Location in statement of operations:

(1)	— Revenues

(2)	— Cost of sales

(3)	— Change in fair value of coal derivatives and coal trading activities, net

(4)	— Other operating (income) expense, net

Derivatives used in Cash Flow Hedging Relationships (in thousands)

Six Months Ended June 30,


		Gain (Loss) Recognized in Other Comprehensive Income				Gains (Losses) Reclassified from Other Comprehensive Income into Income
		2021		2020		2021		2020
Coal sales	⁽¹⁾	$	—	$	599	$	—	$	(902)
Coal purchases	⁽²⁾		—		(595)		—		706
Totals		$	—	$	4	$	—	$	(196)

At June 30, 2021, the Company did not have any derivative contracts designated as hedging instruments.

Derivatives Not Designated as Hedging Instruments (in thousands)

Six Months Ended June 30,


		Gain (Loss) Recognized
		2021		2020
Coal trading— realized and unrealized	⁽³⁾	$	—	$	221
Coal risk management— unrealized	⁽³⁾		(9,290)		(911)
Natural gas trading — realized and unrealized	⁽³⁾		—		76
Change in fair value of coal derivatives and coal trading activities, net total		$	(9,290)	$	(614)

Coal risk management — realized	⁽⁴⁾	$	(513)	$	4,357
Heating oil — diesel purchases	⁽⁴⁾	$	—	$	(705)

Location in statement of operations:

(1)	— Revenues

(2)	— Cost of sales

(3)	— Change in fair value of coal derivatives and coal trading activities, net

(4)	— Other operating (income) expense, net

Accrued Expenses and Other Current Liabilities

6 Months Ended

Jun. 30, 2021

Accrued Expenses and Other Current Liabilities

Accrued Expenses and Other Current Liabilities

11. Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consist of the following:


	June 30,		December 31,
	2021		2020

	(In thousands)
Payroll and employee benefits	$	48,230	$	39,443
Taxes other than income taxes		52,750		56,232
Interest		3,125		2,795
Workers’ compensation		13,712		15,259
Asset retirement obligations		27,032		27,032
Other		21,438		14,495
	$	166,287	$	155,256

Debt and Financing Arrangements

6 Months Ended

Jun. 30, 2021

Debt and Financing Arrangements

Debt and Financing Arrangements

12. Debt and Financing Arrangements


	June 30,		December 31,
	2021		2020

	(In thousands)
Term loan due 2024 ($287.3 million face value)	$	286,638	$	288,033
Tax Exempt Bonds ($98.1 million face value)		98,075		53,090
Convertible Debt ($155.3 million face value)		118,394		115,367
Other		43,948		62,695
Debt issuance costs		(11,167)		(10,873)
		535,888		508,312
Less: current maturities of debt		133,812		31,097
Long-term debt	$	402,076	$	477,215

Term Loan Facility

In 2017, the Company entered into a senior secured term loan credit agreement in an aggregate principal amount of $300 million (the “Term Loan Debt Facility”) with Credit Suisse AG, Cayman Islands Branch, as administrative agent and collateral agent, and the other financial institutions from time to time party thereto (collectively, the “Lenders”). The Term Loan Debt Facility was issued at 99.50% of the face amount and will mature on March 7, 2024. The term loans provided under the Term Loan Debt Facility (the “Term Loans”) are subject to quarterly principal amortization payments in an amount equal to $750,000. The interest rate on the Term Loan Debt Facility is, at the option of Arch Resources, either (i) LIBOR plus an applicable margin of 2.75%, subject to a 1.00% LIBOR floor, or (ii) a base rate plus an applicable margin of 1.75%.

The Term Loan Debt Facility is guaranteed by all existing and future wholly owned domestic subsidiaries of the Company (collectively, the “Subsidiary Guarantors” and, together with Arch Resources, the “Loan Parties”), subject to customary exceptions, and is secured by first priority security interests on substantially all assets of the Loan Parties, including 100% of the voting equity interests of directly owned domestic subsidiaries and 65% of the voting equity interests of directly owned foreign subsidiaries, subject to customary exceptions.

Accounts Receivable Securitization Facility

On September 30, 2020, the Company amended and extended its existing trade accounts receivable securitization facility provided to Arch Receivable Company, LLC, a special-purpose entity that is a wholly owned subsidiary of Arch Resources (“Arch Receivable”) (the “Securitization Facility”), which supports the issuance of letters of credit and requests for cash advances. The amendment to the Securitization Facility reduced the size of the facility from $160 million to $110 million of borrowing capacity and extended the maturity date to September 29, 2023.

Under the Securitization Facility, Arch Receivable, Arch Resources and certain of Arch Resources’s subsidiaries party to the Securitization Facility have granted to the administrator of the Securitization Facility a first priority security interest in eligible trade accounts receivable generated by such parties from the sale of coal and all proceeds thereof. As of June 30, 2021, letters of credit totaling $58.3 million were outstanding under the facility with $37.0 million available for borrowings.

Inventory-Based Revolving Credit Facility

On September 30, 2020, Arch Resources amended the senior secured inventory-based revolving credit facility in an aggregate principal amount of $50 million (the “Inventory Facility”) with Regions Bank (“Regions”) as administrative agent and collateral agent, as lender and swingline lender (in such capacities, the “Lender”) and as letter of credit issuer. Availability under the Inventory Facility is subject to a borrowing base consisting of (i) 85% of the net orderly liquidation value of eligible coal inventory, plus (ii) the lesser of (x) 85% of the net orderly liquidation value of eligible parts and supplies inventory and (y) 35% of the amount determined pursuant to clause (i), plus (iii) 100% of Arch Resources’s Eligible Cash (defined in the Inventory Facility), subject to reduction for reserves imposed by Regions.

The amendment of the Inventory Facility extended the maturity of the facility to September 29, 2023; eliminated the provision that accelerated maturity upon Liquidity (as defined in the Inventory Facility) falling below a specified level; and reduced the minimum Liquidity requirement from $175 million to $100 million. Additionally, the amendment included provisions that reduce the advance rates for coal inventory and parts and supplies, depending on “Liquidity” as defined as of any date of determination, the sum of, without duplication, (a) unrestricted cash or Permitted Investments as of such date of the Parent and its Subsidiaries (other than the Securitization Subsidiaries and Bonding Subsidiaries) that are not Foreign Subsidiaries, (b) withdrawable funds from brokerage accounts of Borrowers as of such date, (c) Availability as of such date, and (d) any unused commitments that are available to be drawn as of such date by the Parent pursuant to the terms of any Permitted Receivables Financing.

The Company entered into an amendment during the quarter ended June 30, 2021 to temporarily suspend certain of the Liquidity requirements within the existing facility through the filing of the September 2021 borrowing base.

The Inventory Facility contains certain customary affirmative and negative covenants; events of default, subject to customary thresholds and exceptions; and representations, including certain cash management and reporting requirements that are customary for asset-based credit facilities. The Inventory Facility also includes a requirement to maintain Liquidity equal to or exceeding $100 million at all times. As of June 30, 2021, letters of credit totaling $32.0 million were outstanding under the facility with $18.0 million available for borrowings.

Equipment Financing

On March 4, 2020, the Company entered into an equipment financing arrangement accounted for as debt (“Equipment Financing”). The Company received $53.6 million in exchange for conveying an interest in certain equipment in operation at its Leer Mine and entered into a master lease arrangement for that equipment. The financing arrangement contains customary terms and events of default and provides for 48 monthly payments with an average interest rate of 6.34% maturing on March 4, 2024. Upon maturity, all interests in the subject equipment will revert back to the Company.

Tax Exempt Bonds

On July 2, 2020, the West Virginia Economic Development Authority (the “Issuer”) issued $53.1 million aggregate principal amount of Solid Waste Disposal Facility Revenue Bonds (Arch Resources Project), Series 2020 (the “Tax Exempt Bonds”) pursuant to an Indenture of Trust dated as of June 1, 2020 (the “Indenture of Trust”) between the Issuer and Citibank, N.A., as trustee (the “Trustee”). On March 4, 2021, the Issuer issued an additional $45.0 million of Series 2021 Tax Exempt Bonds. The proceeds of the Tax Exempt Bonds were loaned to the Company pursuant to a Loan Agreement dated as of June 1, as supplemented by a First Amendment to Loan Agreement dated as of March 1, 2021 (collectively, the “Loan Agreement”), each between the Issuer and the Company. The Tax Exempt Bonds are payable solely from payments to be made by the Company under the Loan Agreement as evidenced by a Note from the Company to the Trustee. The proceeds of the Tax Exempt Bonds are being used to finance certain costs of the acquisition,

construction, reconstruction, and equipping of solid waste disposal facilities at the Company’s Leer South development, and for capitalized interest and certain costs related to issuance of the Tax Exempt Bonds.

The Tax Exempt Bonds will bear interest payable each January 1 and July 1, commencing January 1, 2021 for the Series 2020 and July 1, 2021 for the Series 2021, and have a final maturity of July 1, 2045; however, the Tax Exempt Bonds are subject to mandatory tender on July 1, 2025 at a purchase price equal to 100% of the principal amount of the Tax Exempt Bonds, plus accrued interest to July 1, 2025. The Series 2020 and Series 2021 Tax Exempt Bonds bear interest of 5% and 4.125%, respectively.

The Tax Exempt Bonds are subject to redemption (i) in whole or in part at any time on or after January 1, 2025 at the option of the Issuer, upon the Company’s direction at a redemption price of par, plus interest accrued to the redemption date; and (ii) at par plus interest accrued to the redemption date from certain excess Tax Exempt Bonds proceeds as further described in the Indenture of Trust.

The Company’s obligations under the Loan Agreement are (i) except as otherwise described below, secured by first priority liens on and security interests in substantially all of the Company’s and Subsidiary Guarantors’ real property and other assets, subject to certain customary exceptions and permitted liens, and in any event excluding our accounts receivable and inventory; and (ii) jointly and severally guaranteed by the Subsidiary Guarantors, subject to customary exceptions.

The collateral securing the Company’s obligations under the Loan Agreement is substantially the same as the collateral securing the obligations under the Term Loan Debt Facility other than with respect to variances in certain real property collateral. The real property securing the Company’s obligations under the Loan Agreement includes a subset of the real property collateral securing the obligations under the Term Loan Debt Facility and includes only mortgages on substantially all of the Company’s revenue generating real property and assets.

The Loan Agreement contains certain affirmative covenants and representations, including but not limited to: (i) maintenance of a rating on the Tax Exempt Bonds; (ii) maintenance of proper books of records and accounts; (iii) agreement to add additional guarantors to guarantee the obligations under the Loan Agreement in certain circumstances; (iv) procurement of customary insurance; and (v) preservation of legal existence and certain rights, franchises, licenses and permits. The Loan Agreement also contains certain customary negative covenants, which, among other things, and subject to certain exceptions, include restrictions on (i) release of collateral securing the Company’s obligations under the Loan Agreement; (ii) mergers and consolidations and disposition of assets, and (iii) restrictions on actions that may jeopardize the tax-exempt status of the Tax Exempt Bonds.

The Loan Agreement contains customary events of default, subject to customary thresholds and exceptions, including, among other things; (i) nonpayment of principal, purchase price, interest and other fees (subject to certain cure periods); (ii) bankruptcy or insolvency proceedings relating to us; (iii) material inaccuracy of a representation or warranty at the time made; (iv) cross-events of default to indebtedness of at least $50 million; and (v) cross defaults to the Indenture of Trust, the guaranty related to the Tax Exempt Bonds or any related security documents.

As of June 30, 2021, Arch has utilized $91.0 million of the total Tax Exempt Bond proceeds. The remaining $7.1 million is held in trust and is recorded on the balance sheet as restricted cash. The remainder of the funds will be released as qualified expenditures are made.

Convertible Debt

On November 3, 2020, the Company issued $155.3 million in aggregate principal amount of 5.25% convertible senior notes due 2025 (“Convertible Notes ” or “Convertible Debt”). The net proceeds from the issuance of the Convertible Notes, after deducting offering related costs of $5.1 million and cost of a “Capped Call Transaction” as defined below of $17.5 million, were approximately $132.7 million. The Convertible Notes bear interest at the annual rate of 5.25%, payable semiannually in arrears on May 15 and November 15 of each year, beginning on May 15, 2021, and will mature on November 15, 2025, unless earlier converted, redeemed or repurchased by the Company.

The Convertible Notes will be convertible into cash, shares of the Company’s common stock or a combination thereof, at the Company’s election, at an initial conversion rate of 26.7917 shares of common stock per $1,000 principal amount of Convertible Notes, which is equivalent to an initial conversion price of approximately $37.325 per share, subject to adjustment pursuant to the terms of the indenture governing the Convertible Notes (the "Indenture"). Before July 15, 2025, noteholders will have the right to convert their Convertible Notes only upon the occurrence of certain events. From and after July 15, 2025, noteholders may convert their Convertible Notes at any time until the close of business on the second scheduled trading day immediately before the maturity date.

The conversion rate of the Convertible Notes may be adjusted in certain circumstances, including in connection with a conversion of the Convertible Notes made following certain fundamental changes and under other circumstances set forth in the Indenture. It is the Company’s current intent and policy to settle any conversions of notes through a combination of cash and shares.

The Convertible Notes will be redeemable, in whole and not part, at the Company’s option at any time on or after November 20, 2023 and on or before the 40th scheduled trading day immediately before the maturity date, at a cash redemption price equal to the principal amount of the Convertible Notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the redemption date, but only if the last reported sale price per share of the Company’s common stock exceeds 130% of the conversion price on: (i) each of at least 20 trading days, whether or not consecutive, during the 30 consecutive trading days ending on, and including, the trading day immediately before the date the Company sends the related redemption notice; and (ii) the trading day immediately before the date the Company sends such notice. In addition, calling the Convertible Notes for redemption will constitute a Make-Whole Fundamental Change, which will result in an increase to the conversion rate in certain circumstances for a specified period of time. No sinking fund is provided for the Convertible Notes.

During the second quarter of 2021, the common stock sale condition of the Convertible Notes was satisfied. As described in the Indenture, this condition is satisfied when the closing stock price exceeds 130% of the conversion price of $37.325 per share for at least 20 trading days of the last 30 trading days prior to quarter end. As a result, the Convertible Notes are currently convertible at the election of noteholders during the third quarter. Due to the Company’s stated intent to settle the principal value in cash, the liability portion of $114.5 million of the convertible notes was reflected in current maturities of debt on the Company’s Condensed Consolidated Balance Sheet at June 30, 2021.

As of June 30, 2021, all of the Convertible Notes remained outstanding. In addition, from July 1, 2021 to the date of this filing, the Company has not received any conversion requests for Convertible Notes and do not anticipate receiving any conversion requests in the near term as the market value of the Convertible Notes exceeds the conversion value of the Convertible Notes. As of June 30, 2021, the if-converted value of the Convertible Notes exceeded the principal amount by $81.8 million.

Total interest expense related to the Convertible Debt for the three months ended June 30, 2021 was $3.8 million and was comprised of $2.0 million related to the contractual interest coupon and $1.8 million related to the amortization of the discount on the liability component. Total interest expense related to the Convertible Debt for the six months ended June 30, 2021 was $7.5 million and was comprised of $4.1 million related to the contractual interest coupon and $3.4 million related to the amortization of the discount on the liability component.

Capped Call Transactions

In connection with the offering of the Convertible Notes, the Company entered into privately negotiated convertible note hedge transactions (collectively, the “Capped Call Transactions”). The Capped Call Transactions cover, subject to customary anti-dilution adjustments, the number of shares of the Company’s common stock that initially underlie the Convertible Notes.

The Capped Call Transactions are expected generally to reduce the potential dilution and/or offset any cash payments the Company is required to make in excess of the principal amount due upon conversion of the Convertible

Notes in the event that the market price of the Company’s common stock is greater than the strike price of the Capped Call Transactions, which was initially $37.325 per share (subject to adjustment under the terms of the Capped Call Transactions). The strike price of $37.325 corresponds to the initial conversion price of the Convertible Notes. The number of shares underlying the Capped Call Transactions is 4.2 million.

The cap price of the Capped Call Transactions is $52.2550 per share, which represents a premium of 75% over the last reported sale price of the Company’s common stock on October 29, 2020. The cost of the Capped Call Transactions was approximately $17.5 million.

The Capped Call Transactions are separate transactions, in each case entered into between the Company and the respective Option Counterparty, and are not part of the terms of the Convertible Notes and will not affect any holder’s rights under the Convertible Notes. Holders of the Convertible Notes will not have any rights with respect to the Capped Call Transactions. Additionally, the cost of the Capped Call Transactions is not expected to be tax deductible as the Company did not elect to integrate the Capped Call Transactions into the notes for tax purposes.

Accounting Treatment of the Convertible Notes and Related Hedge Transactions

As the Capped Call Transactions meet certain accounting criteria, the Capped Call Transactions were classified as equity and are not accounted for as derivatives. The proceeds from the offering of the Convertible Notes were separated into liability and equity components. On the date of issuance, the liability and equity components of the Convertible Notes were calculated to be approximately $114.5 million and $40.8 million, respectively. The initial $114.5 million liability component was determined based on the fair value of similar debt instruments excluding the conversion feature assuming a hypothetical interest rate of 12.43%. The inputs and assumptions used in the calculated fair value of the liability component of the convertible debt fall within level 2 of the fair value hierarchy. The initial $40.8 million equity component represents the difference between the fair value of the initial $114.5 million in debt and the $155.3 million of gross proceeds. The equity component is included in additional paid-in capital in the Condensed Consolidated Balance Sheets and will not be subsequently remeasured as long as it continues to meet the conditions for equity classification. The related initial debt discount of $40.8 million is being amortized over the life of the Convertible Notes as non-cash interest expense using the effective interest method.

In connection with the above-noted transactions, the Company incurred approximately $5.9 million of debt issuance costs. These offering expenses were allocated to the liability and equity components in proportion to the allocation of proceeds and accounted for as debt and equity issuance costs, respectively. The Company allocated $4.4 million of debt issuance costs to the liability component, which were capitalized as deferred financing costs within long-term debt. These costs are being amortized as interest expense over the term of the debt (which coincides with the five year life of the Convertible Notes) using the effective interest method. The remaining $1.5 million of transaction costs allocated to the equity component were recorded as a reduction of the equity component.

Interest Rate Swaps

The Company has entered into a series of interest rate swaps to fix a portion of the LIBOR interest payments due under the Term Loan Debt Facility. The interest rate swaps qualify for cash flow hedge accounting treatment and as such, the change in the fair value of the interest rate swaps is recorded on the Company’s Condensed Consolidated Balance Sheet as an asset or liability with the effective portion of the gains or losses reported as a component of accumulated other comprehensive income and the ineffective portion reported in earnings. As interest payments are made on the Term Loan, amounts in accumulated other comprehensive income will be reclassified into earnings through interest expense to reflect a net interest on the Term Loan equal to the effective yield of the fixed rate of the swap plus 2.75% which is the spread on the revised Term Loan. In the event that an interest rate swap is terminated prior to maturity, gains or losses in accumulated other comprehensive income will remain deferred and be reclassified into earnings in the periods which the hedged forecasted transaction affects earnings.

Below is a summary of the Company’s outstanding interest rate swap agreements designated as hedges as of June 30, 2021:


Notional Amount
(in millions)		Effective Date	Fixed Rate		Receive Rate	Expiration Date

$	100.0	June 30, 2021	2.315	%	1-month LIBOR	June 30, 2023

The fair value of the interest rate swaps at June 30, 2021 is a liability of $2.6 million, which is recorded within Other noncurrent liabilities, with the offset to accumulated other comprehensive income on the Company’s Condensed Consolidated Balance Sheet. The Company realized $1.3 million and $0.6 million of losses during the three and six months ended June 30, 2021 and June 30, 2020, respectively, related to settlements of the interest rate swaps which were recorded to interest expense on the Company’s Condensed Consolidated Statement of Operations. The interest rate swaps are classified as Level 2 within the fair value hierarchy.

Income Taxes

6 Months Ended

Jun. 30, 2021

Income Taxes

Income Taxes

13. Income Taxes

A reconciliation of the federal income tax provision at the statutory rate to the actual provision for (benefit from) income taxes follows:



	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020

	(In thousands)
Income tax provision (benefit) at statutory rate	$	6,273	$	(10,105)	$	5,083	$	(15,794)
Percentage depletion and other perm items		(4,038)		(11,768)		(2,956)		(5,600)
State taxes, net of effect of federal taxes		1,180		(1,584)		888		(1,502)
Change in valuation allowance		(3,242)		19,531		(2,830)		20,381
Current expense associated with uncertain tax positions		1,848		5,132		2,209		3,101
AMT sequestration refund		—		—		—		(1,171)
Other, net		(15)		—		(11)		—
Provision for (benefit from) income taxes	$	2,006	$	1,206	$	2,383	$	(585)

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Fair Value Measurements

6 Months Ended

Jun. 30, 2021

Fair Value Measurements

Fair Value Measurements

14. Fair Value Measurements

The hierarchy of fair value measurements assigns a level to fair value measurements based on the inputs used in the respective valuation techniques. The levels of the hierarchy, as defined below, give the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs.

●

Level 1 is defined as observable inputs such as quoted prices in active markets for identical assets. Level 1 assets include U.S. Treasury securities, U.S. government agency securities, and coal swaps and futures that are submitted for clearing on the New York Mercantile Exchange.

●

Level 2 is defined as observable inputs other than Level 1 prices. These include quoted prices for similar assets or liabilities in an active market, quoted prices for identical assets and liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. The Company’s level 2 assets and liabilities include Corporate debt securities, coal commodity contracts, and interest rate swaps with fair values derived from quoted prices in over-the-counter markets or from prices received from direct broker quotes.

●

Level 3 is defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. These include the Company’s commodity option contracts (coal,

natural gas and heating oil) valued using modeling techniques, such as Black-Scholes, that require the use of inputs, particularly volatility, that are rarely observable.

The table below sets forth, by level, the Company’s financial assets and liabilities that are recorded at fair value in the accompanying Condensed Consolidated Balance Sheet:


	June 30, 2021
	Total		Level 1		Level 2		Level 3

	(In thousands)
Assets:
Investments in marketable securities	$	33,256	$	11,083	$	22,173	$	—
Derivatives		—		—		—		—
Total assets	$	33,256	$	11,083	$	22,173	$	—
Liabilities:
Derivatives	$	11,405	$	7,418	$	3,987	$	—

The Company’s contracts with its counterparties allow for the settlement of contracts in an asset position with contracts in a liability position in the event of default or termination. For classification purposes, the Company records the net fair value of all the positions with these counterparties as a net asset or liability. Each level in the table above displays the underlying contracts according to their classification in the accompanying Condensed Consolidated Balance Sheet, based on this counterparty netting.

There were no financial instruments categorized as Level 3 instruments at June 30, 2021.

Fair Value of Long-Term Debt

At June 30, 2021 and December 31, 2020, the fair value of the Company’s debt, including amounts classified as current, was $648.3 million and $533.8 million, respectively. Fair values are based upon observed prices in an active market, when available, or from valuation models using market information, which fall into Level 2 in the fair value hierarchy.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Earnings (Loss) per Common Share

6 Months Ended

Jun. 30, 2021

Earnings (Loss) per Common Share

Earnings (Loss) per Common Share

15. Earnings (Loss) per Common Share

The Company computes basic net income (loss) per share using the weighted average number of common shares outstanding during the period. Diluted net income (loss) per share is computed using the weighted average number of common shares and the effect of potentially dilutive securities outstanding during the period. Potentially dilutive securities may consist of warrants, restricted stock units or other contingently issuable shares. The dilutive effect of outstanding warrants, restricted stock units, convertible debt, and other contingently issuable shares is reflected in diluted earnings per share by application of the treasury stock method. The weighted average share impact of warrants and restricted stock units that were excluded from the calculation of diluted shares due to the Company incurring a net loss for the three and six months ending June 30, 2020 were 94,333 and 165,167 shares, respectively.

The following table provides the basic and diluted earnings per share by reconciling the denominators of the computations:



	Three Months Ended June 30,		Six Months Ended June 30,
	2021	2020	2021	2020

(In Thousands)
Weighted average shares outstanding:
Basic weighted average shares outstanding	15,294	15,145	15,289	15,142
Effect of dilutive securities	1,462	—	1,309	—

Diluted weighted average shares outstanding	16,756	15,145	16,598	15,142

The Company expects to settle the principal amount of Convertible Notes in cash, but settle the conversion premium in shares. As a result, only the amount by which the conversion value exceeds the aggregate principal amount of the Convertible Debt (the “conversion premium”) is considered in the diluted earnings per share calculation. The conversion premium has a potentially dilutive effect on diluted net income per share when the average market price of the Company’s common stock for a given period exceeds the initial conversion price of $37.325 per share for the Convertible Notes. The Company calculates the number of shares needed to satisfy the conversion premium by using an average monthly stock price for each month; and the resulting dilutive impact for the quarter is 1,159,000 shares.

The Capped Call Transaction is anti-dilutive and is excluded from the calculation of diluted earnings per share.

Workers Compensation Expense

6 Months Ended

Jun. 30, 2021

Workers Compensation Expense

Workers Compensation Expense

16. Workers Compensation Expense

The Company is liable under the Federal Mine Safety and Health Act of 1969, as subsequently amended, to provide for pneumoconiosis (occupational disease) benefits to eligible employees, former employees and dependents. The Company currently provides for federal claims principally through a self-insurance program. The Company is also liable under various state workers’ compensation statutes for occupational disease benefits. The occupational disease benefit obligation represents the present value of the actuarially computed present and future liabilities for such benefits over the employees’ applicable years of service.

In October 2019, the Company filed an application with the Office of Workers’ Compensation Programs (“OWCP”) within the Department of Labor for reauthorization to self-insure federal black lung benefits. In February 2020, the Company received a reply from the OWCP confirming Arch’s status to remain self-insured contingent upon posting additional collateral of $71.1 million within 30 days of receipt of the letter. The Company is currently appealing the ruling from the OWCP and has received an extension to self-insure during the appeal process. The Company is evaluating alternatives to self-insurance, including the purchase of commercial insurance to cover these claims.

In addition, the Company is liable for workers’ compensation benefits for traumatic injuries which are calculated using actuarially-based loss rates, loss development factors and discounted based on a risk free rate. Traumatic workers’ compensation claims are insured with varying retentions/deductibles, or through state-sponsored workers’ compensation programs.

Workers’ compensation expense consists of the following components:



	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020

	(In thousands)
Self-insured occupational disease benefits:
Service cost	$	1,949	$	1,891	$	3,898	$	3,782
Interest cost⁽¹⁾		1,111		1,399		2,220		2,798
Net amortization⁽¹⁾		590		298		1,181		595
Total occupational disease	$	3,650	$	3,588	$	7,299	$	7,175
Traumatic injury claims and assessments		1,865		2,100		3,670		4,282
Total workers’ compensation expense	$	5,515	$	5,688	$	10,969	$	11,457

(1)

In accordance with the adoption of ASU 2017-07, “Compensation-Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost,” these costs are recorded within Nonoperating expenses in the Condensed Consolidated Statement of Operations on the line item “Non-service related pension and postretirement benefit costs.”

Employee Benefit Plans

6 Months Ended

Jun. 30, 2021

Employee Benefit Plans

Employee Benefit Plans

17. Employee Benefit Plans

The following table details the components of pension benefit costs (credits):


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020

	(In thousands)
Interest cost⁽¹⁾	$	1,067	$	1,483	$	2,135	$	3,087
Expected return on plan assets⁽¹⁾		(1,824)		(2,023)		(3,648)		(4,311)
Pension settlement⁽¹⁾		(988)		(134)		(988)		(130)
Amortization of prior service costs (credits) ⁽¹⁾		(43)		(27)		(87)		(54)
Net benefit credit	$	(1,788)	$	(701)	$	(2,588)	$	(1,408)

The following table details the components of other postretirement benefit costs:


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020

	(In thousands)
Service cost	$	85	$	106	$	170	$	212
Interest cost⁽¹⁾		528		653		1,056		1,306
Amortization of other actuarial losses (gains)⁽¹⁾		—		(529)		—		(1,059)
Net benefit cost	$	613	$	230	$	1,226	$	459

(1)

- Definition

The entire disclosure for retirement benefits.

+ References

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-Publisher FASB
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+ Details

Commitments and Contingencies

6 Months Ended

Jun. 30, 2021

Commitments and Contingencies

Commitments and Contingencies

18. Commitments and Contingencies

The Company accrues for costs related to contingencies when a loss is probable and the amount is reasonably determinable. Disclosure of contingencies is included in the financial statements when it is at least reasonably possible that a material loss or an additional material loss in excess of amounts already accrued may be incurred.

In addition, the Company is a party to numerous other claims and lawsuits with respect to various matters. The ultimate resolution of any such legal matter could result in outcomes that may be materially different from amounts the Company has accrued for such matters. The Company believes it has recorded adequate reserves for these matters.

Segment Information

6 Months Ended

Jun. 30, 2021

Segment Information

Segment Information

19. Segment Information

On December 31, 2020, the Company sold its Viper operation. As a result, the Company revised its reportable segments beginning in the first quarter of 2021 to reflect the manner in which the chief operating decision maker (CODM) views the Company’s businesses going forward for purposes of reviewing performance, allocating resources and assessing future prospects and strategic execution. Prior to the first quarter of 2021, the Company had three reportable segments: MET, Powder River Basin (PRB), and Other Thermal. After the divestment of Viper, the Company has three remaining active thermal mines: West Elk, Black Thunder, and Coal Creek. With two distinct lines of business, metallurgical and thermal, the movement to two segments aligns with how the Company makes decisions and allocates resources. No changes were made to the MET Segment and the three remaining thermal mines are now reported as the “Thermal Segment”. The prior periods have been restated to reflect the change in reportable segments.

The Company’s reportable business segments are based on two distinct lines of business, metallurgical and thermal, and may include a number of mine complexes. The Company manages its coal sales by market, not by individual mining complex. Geology, coal transportation routes to customers, and regulatory environments also have a significant impact on the Company’s marketing and operations management. Mining operations are evaluated based on Adjusted EBITDA, per-ton cash operating costs (defined as including all mining costs except depreciation, depletion, amortization, accretion on asset retirement obligations, and pass-through transportation expenses, divided by segment tons sold), and on other non-financial measures, such as safety and environmental performance. Adjusted EBITDA is not a measure of financial performance in accordance with generally accepted accounting principles, and items excluded from Adjusted EBITDA are significant in understanding and assessing the Company’s financial condition. Therefore, Adjusted EBITDA should not be considered in isolation, nor as an alternative to net income (loss), income (loss) from operations, cash flows from operations or as a measure of our profitability, liquidity or performance under generally accepted accounting principles. The Company uses Adjusted EBITDA to measure the operating performance of its segments and allocate resources to the segments. Furthermore, analogous measures are used by industry analysts and investors to evaluate the Company’s operating performance. Investors should be aware that the Company’s presentation of Adjusted EBITDA may not be comparable to similarly titled measures used by other companies. The Company reports its results of operations primarily through the following reportable segments: Metallurgical (MET) segment, containing the Company’s metallurgical operations in West Virginia, and the Thermal segment containing the Company’s thermal operations in Wyoming and Colorado.

Reporting segment results for the three and six months ended June 30, 2021 and 2020 are presented below. The

Corporate, Other, and Eliminations grouping includes these charges: idle operations; change in fair value of coal

derivatives and coal trading activities, net; corporate overhead; land management activities; other support functions; and the elimination of intercompany transactions.

the elimination of intercompany transactions.
					Corporate,
					Other and
(In thousands)	MET		Thermal		Eliminations		Consolidated
Three Months Ended June 30, 2021
Revenues	$	219,448	$	230,759	$	182	$	450,389
Adjusted EBITDA		61,246		41,772		(36,492)		66,526
Depreciation, depletion and amortization		22,654		4,993		237		27,884
Accretion on asset retirement obligation		507		4,419		511		5,437
Total assets		941,843		191,164		661,939		1,794,946
Capital expenditures		66,823		575		3,801		71,199

Three Months Ended June 30, 2020
Revenues	$	138,951	$	174,393	$	6,177	$	319,521
Adjusted EBITDA		20,910		(10,114)		(21,528)		(10,732)
Depreciation, depletion and amortization		22,289		7,616		262		30,167
Accretion on asset retirement obligation		486		3,842		658		4,986
Total assets		740,451		356,228		705,710		1,802,389
Capital expenditures		57,514		2,100		1,258		60,872

Six Months Ended June 30, 2021
Revenues	$	398,231	$	408,297	$	1,404	$	807,932
Adjusted EBITDA		102,843		54,853		(60,273)		97,423
Depreciation, depletion and amortization		43,536		9,682		463		53,681
Accretion on asset retirement obligation		1,016		8,837		1,021		10,874
Total assets		941,843		191,164		661,939		1,794,946
Capital expenditures		142,843		864		4,250		147,957

Six Months Ended June 30, 2020
Revenues	$	321,605	$	384,589	$	18,559	$	724,753
Adjusted EBITDA		63,630		(12,016)		(49,431)		2,183
Depreciation, depletion and amortization		44,807		15,161		1,507		61,475
Accretion on asset retirement obligation		972		7,685		1,335		9,992
Total assets		740,451		356,228		705,710		1,802,389
Capital expenditures		136,162		8,813		3,586		148,561

A reconciliation of net income (loss) to adjusted EBITDA and segment Adjusted EBITDA from coal operations follows:



	Three Months Ended June 30,				Six Months Ended June 30,
(In thousands)	2021		2020		2021		2020
Net income (loss)	$	27,866	$	(49,324)	$	21,824	$	(74,623)
Provision for (benefit from) income taxes		2,006		1,206		2,383		(585)
Interest expense, net		2,794		1,730		6,595		3,859
Depreciation, depletion and amortization		27,884		30,167		53,681		61,475
Accretion on asset retirement obligations		5,437		4,986		10,874		9,992
Costs related to proposed joint venture with Peabody Energy		—		7,851		—		11,515
Asset impairment and restructuring		—		7,437		—		13,265
Gain on property insurance recovery related to Mountain Laurel longwall		—		(14,518)		—		(23,518)
Gain on divestitures		—		(1,369)		—		(1,369)
Non-service related pension and postretirement benefit costs		539		1,102		2,066		2,198
Reorganization items, net		—		—		—		(26)
Adjusted EBITDA	$	66,526	$	(10,732)	$	97,423	$	2,183
EBITDA from idled or otherwise disposed operations		3,997		2,696		7,563		7,795
Selling, general and administrative expenses		24,119		19,738		45,599		42,483
Other		8,376		(906)		7,112		(847)
Segment Adjusted EBITDA from coal operations	$	103,018	$	10,796	$	157,697	$	51,614

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details

Revenue Recognition

6 Months Ended

Jun. 30, 2021

Revenue Recognition

Revenue Recognition

20. Revenue Recognition

ASC 606-10-50-5 requires that entities disclose disaggregated revenue information in categories (such as type of good or service, geography, market, type of contract, etc.) that depict how the nature, amount, timing, and uncertainty of revenue and cash flow are affected by economic factors. ASC 606-10-55-89 explains that the extent to which an entity’s revenue is disaggregated depends on the facts and circumstances that pertain to the entity’s contracts with customers and that some entities may need to use more than one type of category to meet the objective for disaggregating revenue.

In general, the Company’s business segmentation is aligned according to the nature and economic characteristics of its coal and customer relationships and provides meaningful disaggregation of each segment’s results. The Company has further disaggregated revenue between North America and Seaborne revenues which depicts the pricing and contract differences between the two. North America revenue is characterized by contracts that typically have a term of one year or longer and typically the pricing is fixed; whereas Seaborne revenue generally is derived by spot or short term contracts with pricing determined at the time of shipment or based on a market index.


					Corporate,
					Other and
	MET		Thermal		Eliminations		Consolidated

	(in thousands)
Three Months Ended June 30, 2021
North America revenues	$	47,290	$	200,239	$	182	$	247,711
Seaborne revenues		172,158		30,520		—		202,678

Total revenues	$	219,448	$	230,759	$	182	$	450,389

Three Months Ended June 30, 2020
North America revenues	$	40,137	$	164,245	$	6,177	$	210,559
Seaborne revenues		98,814		10,148		—		108,962

Total revenues	$	138,951	$	174,393	$	6,177	$	319,521
Six Months Ended June 30, 2021
North America revenues	$	72,127	$	364,450	$	1,404	$	437,981
Seaborne revenues		326,104		43,847		—		369,951

Total revenues	$	398,231	$	408,297	$	1,404	$	807,932

Six Months Ended June 30, 2020
North America revenues	$	69,860	$	371,108	$	18,559	$	459,527
Seaborne revenues		251,745		13,481		—		265,226

Total revenues	$	321,605	$	384,589	$	18,559	$	724,753

As of June 30, 2021, the Company has outstanding performance obligations for the remainder of 2021 of 31.3 million tons of fixed price contracts and 4.4 million tons of variable price contracts. Additionally, the Company has outstanding performance obligations beyond 2021 of approximately 52.9 million tons of fixed price contracts and 1.3 million tons of variable price contracts.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

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-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

+ Details

Leases

6 Months Ended

Jun. 30, 2021

Leases

Leases

21. Leases

The Company has operating and financing leases for mining equipment, office equipment, office space and transloading terminals with remaining lease terms ranging from less than one year to approximately six years. Some of these leases include both lease and non-lease components which are accounted for as a single lease component as the Company has elected the practical expedient to combine these components for all leases. As most of the leases do not provide an implicit rate, the Company calculated the “right-of-use” (“ROU”) assets and lease liabilities using its secured incremental borrowing rate at the lease commencement date.

As of June 30, 2021 and December 31, 2020, the Company had the following ROU assets and lease liabilities within the Company’s Condensed Consolidated Balance Sheets:


		June 30,		December 31,
		2021		2020
Assets	Balance Sheet Classification
Operating lease right-of-use assets	Other noncurrent assets	$	15,744	$	17,069
Financing lease right-of-use assets	Other noncurrent assets		4,863		5,512
Total Lease Assets		$	20,607	$	22,581

Liabilities	Balance Sheet Classification
Financing lease liabilities - current	Accrued expenses and other current liabilities	$	888	$	860
Operating lease liabilities - current	Accrued expenses and other current liabilities		2,486		2,454
Financing lease liabilities - long-term	Other noncurrent liabilities		4,563		5,014
Operating lease liabilities - long-term	Other noncurrent liabilities		13,942		15,278
		$	21,879	$	23,606

Weighted average remaining lease term in years
Operating leases			5.49
Finance leases			3.75

Weighted average discount rate
Operating leases			5.5%
Finance leases			6.4%

Information related to leases was as follows:


		Three Months Ended June 30,				Six Months Ended June 30,
		2021	2020			2021	2020

	(In thousands)				(In thousands)
Operating lease information:
Operating lease cost	$	846	$	905	$	1,692	$	1,928
Operating cash flows from operating leases		826		885		1,686		1,927

Financing lease information:
Financing lease cost	$	393	$	393	$	786	$	393
Operating cash flows from financing leases		303		303		606		303

Future minimum lease payments under non-cancellable leases as of June 30, 2021 were as follows:


	Operating		Finance
Year	Leases		Leases
	(In thousands)
2021	$	1,681	$	606
2022		3,317		1,210
2023		3,285		1,210
2024		3,200		1,210
2025		3,185		2,111
Thereafter		4,613		—
Total minimum lease payments	$	19,281	$	6,347
Less imputed interest		(2,853)		(896)

Total lease liabilities	$	16,428	$	5,451

Accounting Policies (Policies)	6 Months Ended
Accounting Policies (Policies)	Jun. 30, 2021
Accounting Policies
Basis of Presentation	The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial reporting and U.S. Securities and Exchange Commission regulations. In the opinion of management, all adjustments, consisting of normal, recurring accruals considered necessary for a fair presentation, have been included. Results of operations for the three and six months ended June 30, 2021 are not necessarily indicative of results to be expected for the year ending December 31, 2021. These financial statements should be read in conjunction with the audited financial statements and related notes as of and for the year ended December 31, 2020 included in the Company’s Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission.
Recently Adopted Accounting Guidance and Recent Accounting Guidance Issued Not Yet Effective	Recently Adopted Accounting Guidance In March 2020, the FASB issued ASU 2020-04, "Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting." The amendments provide optional guidance for a limited time to ease the potential burden in accounting for reference rate reform. The new guidance provides optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships and other transactions affected by reference rate reform if certain criteria are met. The amendments apply only to contracts and hedging relationships that reference the London interbank offered rate (“LIBOR”) or another reference rate expected to be discontinued due to reference rate reform. These amendments are effective immediately and may be applied prospectively to contract modifications made and hedging relationships entered into or evaluated on or before December 31, 2022. We are currently evaluating our contracts and the optional expedients provided by the new standard. In December 2019, the FASB issued ASU 2019-12, “Income Taxes (Topic 740) Simplifying the Accounting for Income Taxes.” ASU 2019-12 eliminates certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. The ASU is effective for public companies for fiscal years beginning after December 15, 2020, and interim periods therein with early adoption permitted. The Company adopted this ASU with minimal impact to the Company’s financial statements. Recent Accounting Guidance Issued Not Yet Effective In August 2020, the FASB issued ASU 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity's Own Equity (Subtopic 815-40)—Accounting for Convertible Instruments and Contracts in an Entity's Own Equity. ASU 2020-06 reduces the number of accounting models for convertible debt instruments and convertible preferred stock. For convertible instruments with conversion features that are not required to be accounted for as derivatives under Topic 815, Derivatives and Hedging, or that do not result in substantial premiums accounted for as paid-in capital, the embedded conversion features no longer are separated from the host contract. ASU 2020-06 also removes certain conditions that should be considered in the derivatives scope exception evaluation under Subtopic 815-40, Derivatives and Hedging—Contracts in Entity’s Own Equity, and clarify the scope and certain requirements under Subtopic 815-40. In addition, ASU 2020-06 improves the guidance related to the disclosures and earnings-per-share (EPS) for convertible instruments and contract in entity’s own equity. ASU 2020-06 is effective for public business entities that meet the definition of a Securities and Exchange Commission (SEC) filer, excluding entities eligible to be smaller reporting companies as defined by the SEC, for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. The FASB specified that an entity should adopt the guidance as of the beginning of its annual fiscal year. The Company is currently evaluating the impact this ASU will have on its consolidated financial statements.

Accumulated Other Comprehensive Income (Loss) (Tables)

6 Months Ended

Jun. 30, 2021

Accumulated Other Comprehensive Income (Loss)

Schedule of Accumulated Other Comprehensive Income (Loss)


			Pension,
			Postretirement				Accumulated
			and Other Post-				Other
	Derivative		Employment		Available-for-		Comprehensive
	Instruments		Benefits		Sale Securities		Income (loss)

	(In thousands)
Balance at December 31, 2020	$	(3,891)	$	(31,459)	$	(351)	$	(35,701)
Unrealized losses		71		4,404		108		4,583
Amounts reclassified from accumulated other comprehensive income (loss)		1,256		106		(24)		1,338
Balance at June 30, 2021	$	(2,564)	$	(26,949)	$	(267)	$	(29,780)

Schedule of Comprehensive Income Reclassifications


	Three Months Ended June 30,				Six Months Ended June 30,				Line Item in the Condensed Consolidated
Details About AOCI Components	2021		2020		2021		2020		Statements of Operations

	(In thousands)
Coal hedges	$	—	$	196	$	—	$	196
Interest rate hedges		(632)		(648)		(1,256)		(864)	Interest expense
		—		—		—		—	Provision for (benefit from) income taxes
	$	(632)	$	(452)	$	(1,256)	$	(668)	Net of tax

Pension, postretirement and other post-employment benefits
Amortization of actuarial gains (losses), net ¹	$	(590)	$	232	$	(1,181)	$	466	Non-service related pension and postretirement benefit (costs) credits
Amortization of prior service credits		43		27		87		54	Non-service related pension and postretirement benefit (costs) credits
Pension settlement		988		134		988		130	Non-service related pension and postretirement benefit (costs) credits
		—		—		—		—	Provision for (benefit from) income taxes
	$	441	$	393	$	(106)	$	650	Net of tax

Available-for-sale securities ²	$	14	$	141	$	24	$	140	Interest and investment income
		—		—		—		—	Provision for (benefit from) income taxes
	$	14	$	141	$	24	$	140	Net of tax

¹ Production-related benefits and workers’ compensation costs are included in costs to produce coal.

² The gains and losses on sales of available-for-sale-securities are determined on a specific identification basis.

Inventories (Tables)

6 Months Ended

Jun. 30, 2021

Inventories

Inventories


	June 30,		December 31,
	2021		2020

	(In thousands)
Coal	$	79,620	$	49,436
Repair parts and supplies		82,911		76,572
	$	162,531	$	126,008

Investments in Available-for-Sale Securities (Tables)

6 Months Ended

Jun. 30, 2021

Investments in Available-for-Sale Securities

Available-for-sale Securities


	June 30, 2021

			Gross					Allowance
			Unrealized					for - Credit	Fair
	Cost Basis		Gains		Losses			Losses	Value

	(In thousands)
Available-for-sale:
U.S. government and agency securities	$	11,174	$	—	$	(91)	$	—	$	11,083
Corporate notes and bonds		22,349		—		(176)		—		22,173
Total Investments	$	33,523	$	—	$	(267)	$	—	$	33,256


	December 31, 2020

			Gross					Allowance
			Unrealized					for - Credit	Fair
	Cost Basis		Gains			Losses		Losses	Value

	(In thousands)
Available-for-sale:
U.S. government and agency securities	$	57,299	$	11	$	(86)	$	—	$	57,224
Corporate notes and bonds		39,817		1		(277)		—		39,541
Total Investments	$	97,116	$	12	$	(363)	$	—	$	96,765

Derivatives (Tables)

6 Months Ended

Jun. 30, 2021

Derivatives

Schedule of Price Risk Derivatives


(Tons in thousands)	2021	2022	Total
Coal sales	535	33	568
Coal purchases	121	33	154

Disclosure of Fair Value of Derivatives


	June 30, 2021						December 31, 2020
Fair Value of Derivatives	Asset		Liability				Asset		Liability
(In thousands)	Derivative		Derivative				Derivative		Derivative
Derivatives Designated as Hedging Instruments
Coal	$	—	$	—			$	—	$	—

Derivatives Not Designated as Hedging Instruments
Heating oil -- diesel purchases		—		—				237		—
Coal -- held for trading purposes		5,394		(5,234)				1,914		(1,595)
Coal -- risk management		4,059		(13,059)				1,094		(804)
Total	$	9,453	$	(18,293)			$	3,245	$	(2,399)
Total derivatives	$	9,453	$	(18,293)			$	3,245	$	(2,399)
Effect of counterparty netting		(9,453)		9,453				(2,392)		2,392
Net derivatives as classified in the balance sheets	$	—	$	(8,840)	$	(8,840)	$	853	$	(7)	$	846


		June 30,		December 31,
		2021		2020
Net derivatives as reflected on the balance sheets (in thousands)
Heating Oil and coal	Other current assets	$	—	$	853
Coal	Accrued expenses and other current liabilities		(8,840)		(7)
		$	(8,840)	$	846

Effects of Derivatives on Measures of Financial Performance

Derivatives used in Cash Flow Hedging Relationships (in thousands)

Three Months Ended June 30,


		Gain (Loss) Recognized in Other Comprehensive Income				Gains (Losses) Reclassified from Other Comprehensive Income into Income
		2021		2020		2021		2020
Coal sales	⁽¹⁾	$	—	$	440	$	—	$	(902)
Coal purchases	⁽²⁾		—		(439)		—		706
Totals		$	—	$	1	$	—	$	(196)

At June 30, 2021, the Company did not have any derivative contracts designated as hedging instruments.

Derivatives Not Designated as Hedging Instruments (in thousands)

Three Months Ended June 30,


		Gain (Loss) Recognized
			2021		2020
Coal trading — realized and unrealized	⁽³⁾	$	—	$	—
Coal risk management — unrealized	⁽³⁾		(8,762)		129
Natural gas trading— realized and unrealized	⁽³⁾		—		—
Change in fair value of coal derivatives and coal trading activities, net total		$	(8,762)	$	129

Coal risk management— realized	⁽⁴⁾	$	(651)	$	2,756
Heating oil — diesel purchases	⁽⁴⁾	$	—	$	328

Location in statement of operations:

(1)	— Revenues

(2)	— Cost of sales

(3)	— Change in fair value of coal derivatives and coal trading activities, net

(4)	— Other operating (income) expense, net

Derivatives used in Cash Flow Hedging Relationships (in thousands)

Six Months Ended June 30,


		Gain (Loss) Recognized in Other Comprehensive Income				Gains (Losses) Reclassified from Other Comprehensive Income into Income
		2021		2020		2021		2020
Coal sales	⁽¹⁾	$	—	$	599	$	—	$	(902)
Coal purchases	⁽²⁾		—		(595)		—		706
Totals		$	—	$	4	$	—	$	(196)

At June 30, 2021, the Company did not have any derivative contracts designated as hedging instruments.

Derivatives Not Designated as Hedging Instruments (in thousands)

Six Months Ended June 30,


		Gain (Loss) Recognized
		2021		2020
Coal trading— realized and unrealized	⁽³⁾	$	—	$	221
Coal risk management— unrealized	⁽³⁾		(9,290)		(911)
Natural gas trading — realized and unrealized	⁽³⁾		—		76
Change in fair value of coal derivatives and coal trading activities, net total		$	(9,290)	$	(614)

Coal risk management — realized	⁽⁴⁾	$	(513)	$	4,357
Heating oil — diesel purchases	⁽⁴⁾	$	—	$	(705)

Location in statement of operations:

(1)	— Revenues

(2)	— Cost of sales

(3)	— Change in fair value of coal derivatives and coal trading activities, net

(4)	— Other operating (income) expense, net

Accrued Expenses and Other Current Liabilities (Tables)

6 Months Ended

Jun. 30, 2021

Accrued Expenses and Other Current Liabilities

Schedule of Accrued Expenses and Other Current Liabilities


	June 30,		December 31,
	2021		2020

	(In thousands)
Payroll and employee benefits	$	48,230	$	39,443
Taxes other than income taxes		52,750		56,232
Interest		3,125		2,795
Workers’ compensation		13,712		15,259
Asset retirement obligations		27,032		27,032
Other		21,438		14,495
	$	166,287	$	155,256

Debt and Financing Arrangements (Tables)

6 Months Ended

Jun. 30, 2021

Debt and Financing Arrangements

Schedule of Long-term debt


	June 30,		December 31,
	2021		2020

	(In thousands)
Term loan due 2024 ($287.3 million face value)	$	286,638	$	288,033
Tax Exempt Bonds ($98.1 million face value)		98,075		53,090
Convertible Debt ($155.3 million face value)		118,394		115,367
Other		43,948		62,695
Debt issuance costs		(11,167)		(10,873)
		535,888		508,312
Less: current maturities of debt		133,812		31,097
Long-term debt	$	402,076	$	477,215

Schedule of Interest Rate Derivatives

Below is a summary of the Company’s outstanding interest rate swap agreements designated as hedges as of June 30, 2021:


Notional Amount
(in millions)		Effective Date	Fixed Rate		Receive Rate	Expiration Date

$	100.0	June 30, 2021	2.315	%	1-month LIBOR	June 30, 2023

Income Taxes (Tables)

6 Months Ended

Jun. 30, 2021

Income Taxes

Schedule of Effective Income Tax Rate Reconciliation



	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020

	(In thousands)
Income tax provision (benefit) at statutory rate	$	6,273	$	(10,105)	$	5,083	$	(15,794)
Percentage depletion and other perm items		(4,038)		(11,768)		(2,956)		(5,600)
State taxes, net of effect of federal taxes		1,180		(1,584)		888		(1,502)
Change in valuation allowance		(3,242)		19,531		(2,830)		20,381
Current expense associated with uncertain tax positions		1,848		5,132		2,209		3,101
AMT sequestration refund		—		—		—		(1,171)
Other, net		(15)		—		(11)		—
Provision for (benefit from) income taxes	$	2,006	$	1,206	$	2,383	$	(585)

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2021

Fair Value Measurements

Summary of Financial Assets and Liabilities Accounted for at Fair Value


	June 30, 2021
	Total		Level 1		Level 2		Level 3

	(In thousands)
Assets:
Investments in marketable securities	$	33,256	$	11,083	$	22,173	$	—
Derivatives		—		—		—		—
Total assets	$	33,256	$	11,083	$	22,173	$	—
Liabilities:
Derivatives	$	11,405	$	7,418	$	3,987	$	—

Earnings (Loss) per Common Share (Tables)

6 Months Ended

Jun. 30, 2021

Earnings (Loss) per Common Share

Schedule of Weighted Average Number of Shares



	Three Months Ended June 30,		Six Months Ended June 30,
	2021	2020	2021	2020

(In Thousands)
Weighted average shares outstanding:
Basic weighted average shares outstanding	15,294	15,145	15,289	15,142
Effect of dilutive securities	1,462	—	1,309	—

Diluted weighted average shares outstanding	16,756	15,145	16,598	15,142

Workers Compensation Expense (Tables)

6 Months Ended

Jun. 30, 2021

Workers Compensation Expense

Workers' compensation expense

Workers’ compensation expense consists of the following components:



	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020

	(In thousands)
Self-insured occupational disease benefits:
Service cost	$	1,949	$	1,891	$	3,898	$	3,782
Interest cost⁽¹⁾		1,111		1,399		2,220		2,798
Net amortization⁽¹⁾		590		298		1,181		595
Total occupational disease	$	3,650	$	3,588	$	7,299	$	7,175
Traumatic injury claims and assessments		1,865		2,100		3,670		4,282
Total workers’ compensation expense	$	5,515	$	5,688	$	10,969	$	11,457

(1)

Employee Benefit Plans (Tables)

6 Months Ended

Jun. 30, 2021

Employee Benefit Plans

Schedule of Pension Benefit Costs (Credits)

The following table details the components of pension benefit costs (credits):


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020

	(In thousands)
Interest cost⁽¹⁾	$	1,067	$	1,483	$	2,135	$	3,087
Expected return on plan assets⁽¹⁾		(1,824)		(2,023)		(3,648)		(4,311)
Pension settlement⁽¹⁾		(988)		(134)		(988)		(130)
Amortization of prior service costs (credits) ⁽¹⁾		(43)		(27)		(87)		(54)
Net benefit credit	$	(1,788)	$	(701)	$	(2,588)	$	(1,408)

The following table details the components of other postretirement benefit costs:


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020

	(In thousands)
Service cost	$	85	$	106	$	170	$	212
Interest cost⁽¹⁾		528		653		1,056		1,306
Amortization of other actuarial losses (gains)⁽¹⁾		—		(529)		—		(1,059)
Net benefit cost	$	613	$	230	$	1,226	$	459

(1)

Segment Information (Tables)

6 Months Ended

Jun. 30, 2021

Segment Information

Schedule of Operating Segment Results

the elimination of intercompany transactions.
					Corporate,
					Other and
(In thousands)	MET		Thermal		Eliminations		Consolidated
Three Months Ended June 30, 2021
Revenues	$	219,448	$	230,759	$	182	$	450,389
Adjusted EBITDA		61,246		41,772		(36,492)		66,526
Depreciation, depletion and amortization		22,654		4,993		237		27,884
Accretion on asset retirement obligation		507		4,419		511		5,437
Total assets		941,843		191,164		661,939		1,794,946
Capital expenditures		66,823		575		3,801		71,199

Three Months Ended June 30, 2020
Revenues	$	138,951	$	174,393	$	6,177	$	319,521
Adjusted EBITDA		20,910		(10,114)		(21,528)		(10,732)
Depreciation, depletion and amortization		22,289		7,616		262		30,167
Accretion on asset retirement obligation		486		3,842		658		4,986
Total assets		740,451		356,228		705,710		1,802,389
Capital expenditures		57,514		2,100		1,258		60,872

Six Months Ended June 30, 2021
Revenues	$	398,231	$	408,297	$	1,404	$	807,932
Adjusted EBITDA		102,843		54,853		(60,273)		97,423
Depreciation, depletion and amortization		43,536		9,682		463		53,681
Accretion on asset retirement obligation		1,016		8,837		1,021		10,874
Total assets		941,843		191,164		661,939		1,794,946
Capital expenditures		142,843		864		4,250		147,957

Six Months Ended June 30, 2020
Revenues	$	321,605	$	384,589	$	18,559	$	724,753
Adjusted EBITDA		63,630		(12,016)		(49,431)		2,183
Depreciation, depletion and amortization		44,807		15,161		1,507		61,475
Accretion on asset retirement obligation		972		7,685		1,335		9,992
Total assets		740,451		356,228		705,710		1,802,389
Capital expenditures		136,162		8,813		3,586		148,561

Schedule of Reconciliation of Net Income (Loss) to Adjusted EBITDA



	Three Months Ended June 30,				Six Months Ended June 30,
(In thousands)	2021		2020		2021		2020
Net income (loss)	$	27,866	$	(49,324)	$	21,824	$	(74,623)
Provision for (benefit from) income taxes		2,006		1,206		2,383		(585)
Interest expense, net		2,794		1,730		6,595		3,859
Depreciation, depletion and amortization		27,884		30,167		53,681		61,475
Accretion on asset retirement obligations		5,437		4,986		10,874		9,992
Costs related to proposed joint venture with Peabody Energy		—		7,851		—		11,515
Asset impairment and restructuring		—		7,437		—		13,265
Gain on property insurance recovery related to Mountain Laurel longwall		—		(14,518)		—		(23,518)
Gain on divestitures		—		(1,369)		—		(1,369)
Non-service related pension and postretirement benefit costs		539		1,102		2,066		2,198
Reorganization items, net		—		—		—		(26)
Adjusted EBITDA	$	66,526	$	(10,732)	$	97,423	$	2,183
EBITDA from idled or otherwise disposed operations		3,997		2,696		7,563		7,795
Selling, general and administrative expenses		24,119		19,738		45,599		42,483
Other		8,376		(906)		7,112		(847)
Segment Adjusted EBITDA from coal operations	$	103,018	$	10,796	$	157,697	$	51,614

Revenue Recognition (Tables)

6 Months Ended

Jun. 30, 2021

Revenue Recognition

Schedule of effects of revenue recognition


					Corporate,
					Other and
	MET		Thermal		Eliminations		Consolidated

	(in thousands)
Three Months Ended June 30, 2021
North America revenues	$	47,290	$	200,239	$	182	$	247,711
Seaborne revenues		172,158		30,520		—		202,678

Total revenues	$	219,448	$	230,759	$	182	$	450,389

Three Months Ended June 30, 2020
North America revenues	$	40,137	$	164,245	$	6,177	$	210,559
Seaborne revenues		98,814		10,148		—		108,962

Total revenues	$	138,951	$	174,393	$	6,177	$	319,521
Six Months Ended June 30, 2021
North America revenues	$	72,127	$	364,450	$	1,404	$	437,981
Seaborne revenues		326,104		43,847		—		369,951

Total revenues	$	398,231	$	408,297	$	1,404	$	807,932

Six Months Ended June 30, 2020
North America revenues	$	69,860	$	371,108	$	18,559	$	459,527
Seaborne revenues		251,745		13,481		—		265,226

Total revenues	$	321,605	$	384,589	$	18,559	$	724,753

Leases (Tables)

6 Months Ended

Jun. 30, 2021

Leases

Schedule of right-of-use assets and lease liabilities


		June 30,		December 31,
		2021		2020
Assets	Balance Sheet Classification
Operating lease right-of-use assets	Other noncurrent assets	$	15,744	$	17,069
Financing lease right-of-use assets	Other noncurrent assets		4,863		5,512
Total Lease Assets		$	20,607	$	22,581

Liabilities	Balance Sheet Classification
Financing lease liabilities - current	Accrued expenses and other current liabilities	$	888	$	860
Operating lease liabilities - current	Accrued expenses and other current liabilities		2,486		2,454
Financing lease liabilities - long-term	Other noncurrent liabilities		4,563		5,014
Operating lease liabilities - long-term	Other noncurrent liabilities		13,942		15,278
		$	21,879	$	23,606

Weighted average remaining lease term in years
Operating leases			5.49
Finance leases			3.75

Weighted average discount rate
Operating leases			5.5%
Finance leases			6.4%

Schedule of Information Related to Leases


		Three Months Ended June 30,				Six Months Ended June 30,
		2021	2020			2021	2020

	(In thousands)				(In thousands)
Operating lease information:
Operating lease cost	$	846	$	905	$	1,692	$	1,928
Operating cash flows from operating leases		826		885		1,686		1,927

Financing lease information:
Financing lease cost	$	393	$	393	$	786	$	393
Operating cash flows from financing leases		303		303		606		303

Schedule of Future Minimum Lease Payments

Future minimum lease payments under non-cancellable leases as of June 30, 2021 were as follows:


	Operating		Finance
Year	Leases		Leases
	(In thousands)
2021	$	1,681	$	606
2022		3,317		1,210
2023		3,285		1,210
2024		3,200		1,210
2025		3,185		2,111
Thereafter		4,613		—
Total minimum lease payments	$	19,281	$	6,347
Less imputed interest		(2,853)		(896)

Total lease liabilities	$	16,428	$	5,451

Joint Venture with Peabody Energy (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Implementation Agreement
Schedule of Equity Method Investments [Line Items]
Incurred expenses related to regulatory approval process	$ 0.0	$ 7.9	$ 0.0	$ 11.5

Gain on Property Insurance Recovery Related to Mountain Laurel Longwall (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021 USD ($)	Jun. 30, 2020 USD ($) item	Jun. 30, 2021 USD ($)	Jun. 30, 2020 USD ($) item
Business Interruption Loss [Line Items]
Gain on Business Interruption Insurance Recovery		$ 14,518		$ 23,518
Longwall system's not recoverable \| item		123		123
Hydraulic Shields not recoverable \| item		176		176
Mountain Laurel Longwall Operations
Business Interruption Loss [Line Items]
Gain on Business Interruption Insurance Recovery		$ 14,500		$ 23,500
Amounts related to the property insurance recovery	$ 0		$ 0

Asset Impairment and Restructuring (Details) $ in Millions	3 Months Ended		6 Months Ended
Asset Impairment and Restructuring (Details) $ in Millions	Jun. 30, 2021 USD ($)	Jun. 30, 2020 USD ($) employee	Jun. 30, 2021 USD ($)	Jun. 30, 2020 USD ($) employee
Asset Impairment and Restructuring
Severance Costs \| $	$ 0.0	$ 7.4	$ 0.0	$ 13.3
Number of corporate staff accepted voluntary separation package				53
Number of Employees accepted voluntary separation package		201		201

Divestitures (Details) - USD ($)	3 Months Ended	6 Months Ended
Divestitures (Details) - USD ($)	Jun. 30, 2020	Jun. 30, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain on divestitures	$ (1,369,000)	$ (1,369,000)
Dal-Tex and Briar Branch Properties \| Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration for sale	0
Gain on disposal	$ 1,400,000

Accumulated Other Comprehensive Income (Schedule of Accumulated Other Comprehensive Income (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2021 USD ($)
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning Balance	$ 283,561
Ending Balance	318,529
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning Balance	(35,701)
Unrealized gains (losses)	4,583
Amounts reclassified from AOCI	1,338
Ending Balance	(29,780)
Derivative instruments
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning Balance	(3,891)
Unrealized gains (losses)	71
Amounts reclassified from AOCI	1,256
Ending Balance	(2,564)
Pension, postretirement and other post-employment benefits
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning Balance	(31,459)
Unrealized gains (losses)	4,404
Amounts reclassified from AOCI	106
Ending Balance	(26,949)
Available-for-sale securities
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning Balance	(351)
Unrealized gains (losses)	108
Amounts reclassified from AOCI	(24)
Ending Balance	$ (267)

- Definition

+ References + Details

Accumulated Other Comprehensive Income (Schedule of Reclassifications) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Revenues	$ 450,389	$ 319,521	$ 807,932	$ 724,753
Interest expense	(2,941)	(3,523)	(7,069)	(6,911)
Interest and investment income	147	1,793	474	3,052
Income (loss) before income taxes	29,872	(48,118)	24,207	(75,208)
Provision for (benefit from) income taxes	(2,006)	(1,206)	(2,383)	585
Net income (loss)	27,866	(49,324)	21,824	(74,623)
Reclassification out of Accumulated Other Comprehensive Income \| Derivative instruments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Revenues		196		196
Interest expense	(632)	(648)	(1,256)	(864)
Provision for (benefit from) income taxes	0	0	0	0
Net income (loss)	(632)	(452)	(1,256)	(668)
Reclassification out of Accumulated Other Comprehensive Income \| Pension, postretirement and other post-employment benefits
Accumulated Other Comprehensive Income (Loss) [Line Items]
Amortization of actuarial gains (losses), net	(590)	232	(1,181)	466
Amortization of prior service credits	43	27	87	54
Pension settlement	988	134	988	130
Provision for (benefit from) income taxes	0	0	0	0
Net income (loss)	441	393	(106)	650
Reclassification out of Accumulated Other Comprehensive Income \| Available-for-sale securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Interest and investment income	14	141	24	140
Provision for (benefit from) income taxes	0	0	0	0
Net income (loss)	$ 14	$ 141	$ 24	$ 140

Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Inventories
Coal	$ 79,620	$ 49,436
Repair parts and supplies	82,911	76,572
Inventories	162,531	126,008
Allowance for slow-moving and obsolete inventories	$ 700	$ 600

Investments in Available-for-Sale Securities (Schedule of Investments) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Debt Securities, Available-for-sale [Line Items]
Available-for-sale, Cost Basis	$ 33,523	$ 97,116
Available-for-sale, Gains		12
Available-for-sale, Losses	(267)	(363)
Available-for-sale, Fair Value	33,256	96,765
U.S. government and agency securities
Debt Securities, Available-for-sale [Line Items]
Available-for-sale, Cost Basis	11,174	57,299
Available-for-sale, Gains		11
Available-for-sale, Losses	(91)	(86)
Available-for-sale, Fair Value	11,083	57,224
Corporate notes and bonds
Debt Securities, Available-for-sale [Line Items]
Available-for-sale, Cost Basis	22,349	39,817
Available-for-sale, Gains		1
Available-for-sale, Losses	(176)	(277)
Available-for-sale, Fair Value	$ 22,173	$ 39,541

Investments in Available-for-Sale Securities (Narrative) (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Investments in Available-for-Sale Securities
Unrealized losses owned for less than 12 months	$ 32.3	$ 45.3
Unrealized losses owed for over a year	$ 0.0	$ 8.1

Derivatives (Narrative) (Details) gal in Millions, $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2021 USD ($) gal	Dec. 31, 2020 USD ($)
Derivative [Line Items]
Value of trading portfolio realized - gains (losses)		$ (0.2)
Current asset representing cash collateral posted	$ 10.5	$ 1.4
Call Option \| Heating Oil
Derivative [Line Items]
Notional Amount	$ 0.0
Not Designated as Hedging Instrument \| Diesel Purchases \| Minimum
Derivative [Line Items]
Diesel fuel purchased annually (in gallons) \| gal	30
Not Designated as Hedging Instrument \| Diesel Purchases \| Maximum
Derivative [Line Items]
Diesel fuel purchased annually (in gallons) \| gal	35

Derivatives (Schedule of Price Risk Derivatives) (Details) T in Thousands	6 Months Ended
	Jun. 30, 2021 T
Coal sales
Derivative [Line Items]
Derivatives held (in tons)	568
Coal purchases
Derivative [Line Items]
Derivatives held (in tons)	154
2021 \| Coal sales
Derivative [Line Items]
Derivatives held (in tons)	535
2021 \| Coal purchases
Derivative [Line Items]
Derivatives held (in tons)	121
2022 \| Coal sales
Derivative [Line Items]
Derivatives held (in tons)	33
2022 \| Coal purchases
Derivative [Line Items]
Derivatives held (in tons)	33

Derivatives (Disclosure Of Fair Value Of Derivatives) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Derivative [Line Items]
Derivative Assets	$ 9,453	$ 3,245
Derivative Liabilities	(18,293)	(2,399)
Effect of counterparty netting in derivative assets	(9,453)	(2,392)
Effect of counterparty netting in derivative liabilities	9,453	2,392
Derivative Asset		853
Derivative Liability	(8,840)	(7)
Net derivatives as classified in the balance sheets	(8,840)	846
Accrued expenses and other current liabilities
Derivative [Line Items]
Net derivatives as classified in the balance sheets	(8,840)	(7)
Not Designated as Hedging Instrument
Derivative [Line Items]
Derivative Assets	9,453	3,245
Derivative Liabilities	(18,293)	(2,399)
Not Designated as Hedging Instrument \| Coal Contract
Derivative [Line Items]
Derivative Assets	5,394	1,914
Derivative Liabilities	(5,234)	(1,595)
Coal Contract \| Designated as Hedging Instrument
Derivative [Line Items]
Derivative Liabilities		0
Coal Contract \| Not Designated as Hedging Instrument
Derivative [Line Items]
Derivative Assets	4,059	1,094
Derivative Liabilities	$ (13,059)	(804)
Heating oil - diesel purchases \| Not Designated as Hedging Instrument
Derivative [Line Items]
Derivative Assets		237
Derivative Liabilities		$ 0

Derivatives (Net Derivatives As Reflected On The Balance Sheets) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Derivatives, Fair Value [Line Items]
Net derivatives as classified in the balance sheet	$ (8,840)	$ 846
Accrued expenses and other current liabilities
Derivatives, Fair Value [Line Items]
Net derivatives as classified in the balance sheet	$ (8,840)	(7)
Heating oil and coal \| Other current assets
Derivatives, Fair Value [Line Items]
Net derivatives as classified in the balance sheet		$ 853

Derivatives (Effects Of Derivatives On Measures Of Financial Performance) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Change in fair value of coal derivatives and coal trading activities, net	$ (8,762)	$ 129	$ (9,290)	$ (614)
Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Other Comprehensive Income		1		4
Gains (Losses) Reclassified from Other Comprehensive Income into Income		(196)		(196)
Designated as Hedging Instrument \| Coal sales \| Coal Contract \| Coal sales
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Other Comprehensive Income		440		599
Gains (Losses) Reclassified from Other Comprehensive Income into Income		(902)		(902)
Designated as Hedging Instrument \| Coal purchases \| Coal Contract \| Coal purchases
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Other Comprehensive Income	0	(439)		(595)
Gains (Losses) Reclassified from Other Comprehensive Income into Income	0	706		706
Not Designated as Hedging Instrument \| Coal Contract \| Coal and natural gas realized and unrealized
Derivative Instruments, Gain (Loss) [Line Items]
Realized and Unrealized Gain (Loss) on Derivatives				221
Unrealized Gain (Loss) on Derivatives	(8,762)	129	(9,290)	(911)
Not Designated as Hedging Instrument \| Coal Contract \| Other operating (income) expense, net
Derivative Instruments, Gain (Loss) [Line Items]
Realized Gain (Loss) on Derivatives	$ (651)	2,756	$ (513)	4,357
Not Designated as Hedging Instrument \| Natural gas \| Coal and natural gas realized and unrealized
Derivative Instruments, Gain (Loss) [Line Items]
Realized and Unrealized Gain (Loss) on Derivatives				76
Not Designated as Hedging Instrument \| Heating oil - diesel purchases \| Other operating (income) expense, net
Derivative Instruments, Gain (Loss) [Line Items]
Heating oil realized and unrealized gains and losses		$ 328		$ (705)

Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Accrued Expenses and Other Current Liabilities
Payroll and employee benefits	$ 48,230	$ 39,443
Taxes other than income taxes	52,750	56,232
Interest	3,125	2,795
Workers' compensation	13,712	15,259
Asset retirement obligations	27,032	27,032
Other	21,438	14,495
Accrued expenses and other current liabilities	$ 166,287	$ 155,256

Debt and Financing Arrangements (Long term Debt) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Debt issuance costs	$ (11,167)	$ (10,873)
Total	535,888	508,312
Less: current maturities of debt	133,812	31,097
Long-term debt	402,076	477,215
Term loan due 2024
Debt Instrument [Line Items]
Long-term debt	286,638	288,033
Debt instrument, face amount	287,300
Tax Exempt Bonds
Debt Instrument [Line Items]
Long-term debt	98,075	53,090
Debt instrument, face amount	98,100
Convertible Debt
Debt Instrument [Line Items]
Long-term debt	118,394	115,367
Debt instrument, face amount	155,300
Other Debt
Debt Instrument [Line Items]
Long-term debt	$ 43,948	$ 62,695

Debt and Financing Arrangements (Company Debt Narrative) (Details) $ / shares in Units, shares in Millions						1 Months Ended		3 Months Ended		6 Months Ended		9 Months Ended	12 Months Ended
	Nov. 03, 2020 USD ($) item $ / shares	Oct. 29, 2020 USD ($) $ / shares shares	Jul. 02, 2020 USD ($)	Mar. 04, 2020 USD ($) installment	Mar. 07, 2017 USD ($)	Sep. 30, 2020 USD ($)	Aug. 31, 2020 USD ($)	Jun. 30, 2021 USD ($)	Mar. 31, 2021 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2020 USD ($)	Sep. 30, 2020 USD ($)	Dec. 31, 2018	Dec. 31, 2017 USD ($)	Mar. 04, 2021 USD ($)	Dec. 31, 2020 USD ($)
Debt Instrument [Line Items]
Restricted Cash								$ 7,104,000		$ 7,104,000						$ 5,953,000
Net proceeds of convertible debt									$ 155,300,000
Derivative liabilities								18,293,000		18,293,000						$ 2,399,000
Debt financing costs										1,537,000	$ 1,171,000
Equity components liability of the convertible notes									114,500,000
Equity components of the convertible notes								$ 40,800,000	$ 40,800,000	$ 40,800,000
Hypothetical interest rate (as percent)								12.43%		12.43%
Discount amortized								$ 40,800,000		$ 40,800,000
Deferred Offering Costs								5,900,000		5,900,000
Debt issuance costs								4,400,000		$ 4,400,000
Amortized as interest expense over the term										5 years
Transaction costs										$ 1,500,000
New Term Loan Debt Facility \| Senior Notes
Debt Instrument [Line Items]
Term loan, face value					$ 300,000,000
Percentage of face amount					99.50
Quarterly principal amortization payments					$ 750,000
Amount of voting equity interests of domestic subsidiaries guaranteed (percent)					100
Amount of voting equity interests of foreign owned subsidiaries guaranteed (percent)					65
New Term Loan Debt Facility \| Senior Notes \| LIBOR
Debt Instrument [Line Items]
Applicable margin on interest rate										2.75%
New Term Loan Debt Facility \| Line of Credit \| LIBOR
Debt Instrument [Line Items]
Applicable margin on interest rate													2.75%
New Term Loan Debt Facility \| Line of Credit \| LIBOR \| Minimum
Debt Instrument [Line Items]
Applicable margin on interest rate													1.00%
New Term Loan Debt Facility \| Line of Credit \| Base Rate
Debt Instrument [Line Items]
Applicable margin on interest rate													1.75%
Interest Rate Swap
Debt Instrument [Line Items]
Derivative liabilities								2,600,000		$ 2,600,000
Gain (loss) on interest rate swap										(1,300,000)	(600,000)
Accounts Receivable Securitization Facility \| Line of Credit \| Secured Debt
Debt Instrument [Line Items]
Letters of credit outstanding								58,300,000		58,300,000
Accounts Receivable Securitization Facility \| Regions Bank \| Line of Credit \| Secured Debt
Debt Instrument [Line Items]
Current borrowing capacity						$ 110,000,000					$ 160,000,000	$ 110,000,000
Accounts Receivable Securitization Facility \| Arch Receivable Company, LLC \| Line of Credit \| Secured Debt
Debt Instrument [Line Items]
Current borrowing capacity								37,000,000.0		37,000,000.0
Inventory-Based Revolving Credit Facility
Debt Instrument [Line Items]
Covenant amount										18,000,000.0
Inventory-Based Revolving Credit Facility \| Regions Bank \| Line of Credit \| Secured Debt
Debt Instrument [Line Items]
Term loan, face value														$ 50,000,000
Letters of credit outstanding								32,000,000.0		32,000,000.0
Borrowing base percentage, coal inventory														85
Borrowing base percentage, parts and supplies inventory														85
Borrowing base, percentage of clause														35
Percent of eligible cash														100.00%
Covenant amount						$ 100,000,000	$ 175,000,000							$ 100,000,000
Equipment financing arrangement \| Secured Debt
Debt Instrument [Line Items]
Term loan, face value				$ 53,600,000
Number of monthly payments \| installment				48
Interest rate				6.34%
Tax Exempt Bonds
Debt Instrument [Line Items]
Term loan, face value								98,100,000		98,100,000
Proceeds from issuance of debt										91,000,000.0
Restricted Cash								7,100,000		7,100,000
Tax Exempt Bonds \| Minimum
Debt Instrument [Line Items]
Covenant for cross-events of default to indebtedness												$ 50,000,000
Series 2020 Tax Exempt Bonds
Debt Instrument [Line Items]
Term loan, face value			$ 53,100,000
Interest rate			5.00%
Mandatory tender percentage			100.00%
Series 2021 Tax Exempt Bonds
Debt Instrument [Line Items]
Term loan, face value															$ 45,000,000.0
Interest rate															4.125%
Convertible Notes
Debt Instrument [Line Items]
Term loan, face value	$ 155,300,000
Interest rate	5.25%
Net proceeds of convertible debt	$ 132,700,000
Initial Conversion ratio	0.267917
Initial Conversion price (in dollars per share) \| $ / shares	$ 37.325
Convertible debt, current								114,500,000		114,500,000
Stock price trigger (as a percent)	130.00%
Trading days, number \| item	20
Convertible Notes exceeded the principal amount										81,800,000
Consecutive trading days, period \| item	30
Total interest expense								3,800,000		7,500,000
Contractual interest coupon								2,000,000.0		4,100,000
Amortization of debt discount								$ 1,800,000		$ 3,400,000
Deferred Offering Costs	$ 5,100,000
Capped Call Transactions
Debt Instrument [Line Items]
Initial strike price (in dollars per share) \| $ / shares		$ 37.325
Number of underlying shares \| shares		4.2
Cap price \| $ / shares		$ 52.2550
Premium percentage (as percent)		75.00%
Capped call, transaction cost	$ 17,500,000	$ 17,500,000

Debt and Financing Arrangements (Interest rate derivatives) (Details) - June 30, 2021 $ in Millions	Jun. 30, 2021 USD ($)
Debt Instrument [Line Items]
Notional Amount	$ 100.0
Fixed Rate	2.315%

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Taxes
Income tax provision (benefit) at statutory rate	$ 6,273	$ (10,105)	$ 5,083	$ (15,794)
Percentage depletion and other perm items	(4,038)	(11,768)	(2,956)	(5,600)
State taxes, net of effect of federal taxes	1,180	(1,584)	888	(1,502)
Change in valuation allowance	(3,242)	19,531	(2,830)	20,381
Current expense associated with uncertain tax positions	1,848	5,132	2,209	3,101
AMT sequestration refund				(1,171)
Other, net	(15)		(11)
Provision for (benefit from) income taxes	$ 2,006	$ 1,206	$ 2,383	$ (585)

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Fair Value Measurements (Financial Assets And Liabilities) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Assets:
Investments in marketable securities	$ 33,256	$ 96,765
Total assets	33,256
Liabilities:
Derivatives	11,405
Level 1
Assets:
Investments in marketable securities	11,083
Derivatives	0
Total assets	11,083
Liabilities:
Derivatives	7,418
Level 2
Assets:
Investments in marketable securities	22,173
Total assets	22,173
Liabilities:
Derivatives	3,987
Level 3
Assets:
Investments in marketable securities	0
Derivatives	0
Total assets	0
Liabilities:
Derivatives	$ 0

Fair Value Measurements (Narrative) (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Fair Value Measurements
Fair value of debt, including amounts classified as current	$ 648.3	$ 533.8

Earnings (Loss) per Common Share (Details) - $ / shares	3 Months Ended		6 Months Ended
Earnings (Loss) per Common Share (Details) - $ / shares	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Nov. 03, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities excluded			94,333	165,167
Weighted average shares outstanding:
Basic weighted average shares outstanding (in shares)	15,294,000	15,145,000	15,289,000	15,142,000
Effect of dilutive securities (in shares)	1,462,000		1,309,000
Diluted weighted average shares outstanding (in shares)	16,756,000	15,145,000	16,598,000	15,142,000
Convertible Notes
Weighted average shares outstanding:
Effect of dilutive securities (in shares)	1,159,000
Debt Instrument [Line Items]
Initial Conversion price (in dollars per share)					$ 37.325

Workers Compensation Expense (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
	Feb. 29, 2020	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Accrued Workers Compensation [Line Items]
Additional collateral amount	$ 71,100
Number of days required to submit additional collateral to retain self-insurance status	30 days
Occupational disease
Accrued Workers Compensation [Line Items]
Service cost		$ 1,949	$ 1,891	$ 3,898	$ 3,782
Interest cost		1,111	1,399	2,220	2,798
Amortization of other actuarial losses (gains)		590	298	1,181	595
Net benefit cost (credit)		3,650	3,588	7,299	7,175
Traumatic injury claims and assessments
Accrued Workers Compensation [Line Items]
Traumatic injury claims and assessments		1,865	2,100	3,670	4,282
Total workers' compensation expense
Accrued Workers Compensation [Line Items]
Total workers' compensation expense		$ 5,515	$ 5,688	$ 10,969	$ 11,457

Employee Benefit Plans (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Employee Benefit Plans (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Defined benefit pension plan
Defined Benefit Plan Disclosure [Line Items]
Interest cost	$ 1,067	$ 1,483	$ 2,135	$ 3,087
Expected return on plan assets	(1,824)	(2,023)	(3,648)	(4,311)
Pension settlement	(988)	(134)	(988)	(130)
Amortization of prior service costs (credits)	(43)	(27)	(87)	(54)
Net benefit cost (credit)	(1,788)	(701)	(2,588)	(1,408)
Other postretirement benefits plan
Defined Benefit Plan Disclosure [Line Items]
Service cost	85	106	170	212
Interest cost	528	653	1,056	1,306
Amortization of other actuarial losses (gains)		(529)		(1,059)
Net benefit cost (credit)	$ 613	$ 230	$ 1,226	$ 459

Segment Information (Schedule Of Operating Segment Results) (Details)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2021 USD ($)	Jun. 30, 2020 USD ($)	Jun. 30, 2021 USD ($) segment item	Jun. 30, 2020 USD ($)	Dec. 31, 2020 USD ($) segment
Segment Reporting Information [Line Items]
Number of reportable segments \| segment			2		3
Number of remaining active thermal mines \| item			3
Number of distinct lines of business			$ 2
Revenues	$ 450,389,000	$ 319,521,000	807,932,000	$ 724,753,000
Adjusted EBITDA	66,526,000	(10,732,000)	97,423,000	2,183,000
Depreciation, depletion and amortization	27,884,000	30,167,000	53,681,000	61,475,000
Accretion on asset retirement obligations	5,437,000	4,986,000	10,874,000	9,992,000
Total assets	1,794,946,000	1,802,389,000	1,794,946,000	1,802,389,000	$ 1,722,472,000
Capital expenditures	71,199,000	60,872,000	147,957,000	148,561,000
Operating Segments \| MET
Segment Reporting Information [Line Items]
Revenues	219,448,000	138,951,000	398,231,000	321,605,000
Adjusted EBITDA	61,246,000	20,910,000	102,843,000	63,630,000
Depreciation, depletion and amortization	22,654,000	22,289,000	43,536,000	44,807,000
Accretion on asset retirement obligations	507,000	486,000	1,016,000	972,000
Total assets	941,843,000	740,451,000	941,843,000	740,451,000
Capital expenditures	66,823,000	57,514,000	142,843,000	136,162,000
Operating Segments \| Thermal
Segment Reporting Information [Line Items]
Revenues	230,759,000	174,393,000	408,297,000	384,589,000
Adjusted EBITDA	41,772,000	(10,114,000)	54,853,000	(12,016,000)
Depreciation, depletion and amortization	4,993,000	7,616,000	9,682,000	15,161,000
Accretion on asset retirement obligations	4,419,000	3,842,000	8,837,000	7,685,000
Total assets	191,164,000	356,228,000	191,164,000	356,228,000
Capital expenditures	575,000	2,100,000	864,000	8,813,000
Corporate, Other and Eliminations
Segment Reporting Information [Line Items]
Revenues	182,000	6,177,000	1,404,000	18,559,000
Adjusted EBITDA	(36,492,000)	(21,528,000)	(60,273,000)	(49,431,000)
Depreciation, depletion and amortization	237,000	262,000	463,000	1,507,000
Accretion on asset retirement obligations	511,000	658,000	1,021,000	1,335,000
Total assets	661,939,000	705,710,000	661,939,000	705,710,000
Capital expenditures	$ 3,801,000	$ 1,258,000	$ 4,250,000	$ 3,586,000

Segment Information (Reconciliation Segment Income To Consolidated Income Before Income Taxes) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Segment Information
Net income (loss)	$ 27,866	$ (49,324)	$ 21,824	$ (74,623)
Provision for (benefit from) income taxes	2,006	1,206	2,383	(585)
Interest expense, net	2,794	1,730	6,595	3,859
Depreciation, depletion and amortization	27,884	30,167	53,681	61,475
Accretion on asset retirement obligations	5,437	4,986	10,874	9,992
Costs related to proposed joint venture with Peabody Energy		7,851		11,515
Asset impairment and restructuring		7,437		13,265
Gain on property insurance recovery related to Mountain Laurel longwall		(14,518)		(23,518)
Non-service related pension and postretirement benefit costs	539	1,102	2,066	2,198
Reorganization items, net				(26)
Adjusted EBITDA	66,526	(10,732)	97,423	2,183
EBITDA from idled or otherwise disposed operations	3,997	2,696	7,563	7,795
Selling, general and administrative expenses	24,119	19,738	45,599	42,483
Other	8,376	(906)	7,112	(847)
Segment Adjusted EBITDA from coal operations	$ 103,018	$ 10,796	$ 157,697	$ 51,614

Revenue Recognition (Disaggregation of Revenue) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Disaggregation of Revenue [Line Items]
Revenues	$ 450,389	$ 319,521	$ 807,932	$ 724,753
Corporate, Other and Eliminations
Disaggregation of Revenue [Line Items]
Revenues	182	6,177	1,404	18,559
North America revenues
Disaggregation of Revenue [Line Items]
Revenues	247,711	210,559	437,981	459,527
North America revenues \| Corporate, Other and Eliminations
Disaggregation of Revenue [Line Items]
Revenues	182	6,177	1,404	18,559
Seaborne revenues
Disaggregation of Revenue [Line Items]
Revenues	202,678	108,962	369,951	265,226
Seaborne revenues \| Corporate, Other and Eliminations
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
MET \| Operating Segments
Disaggregation of Revenue [Line Items]
Revenues	219,448	138,951	398,231	321,605
MET \| North America revenues \| Operating Segments
Disaggregation of Revenue [Line Items]
Revenues	47,290	40,137	72,127	69,860
MET \| Seaborne revenues \| Operating Segments
Disaggregation of Revenue [Line Items]
Revenues	172,158	98,814	326,104	251,745
Thermal \| Operating Segments
Disaggregation of Revenue [Line Items]
Revenues	230,759	174,393	408,297	384,589
Thermal \| North America revenues \| Operating Segments
Disaggregation of Revenue [Line Items]
Revenues	200,239	164,245	364,450	371,108
Thermal \| Seaborne revenues \| Operating Segments
Disaggregation of Revenue [Line Items]
Revenues	$ 30,520	$ 10,148	$ 43,847	$ 13,481

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Revenue Recognition (Narrative) (Details) T in Millions	Jun. 30, 2021 T
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations, fixed price contracts (in tons)	31.3
Remaining performance obligations, variable price contracts (in tons)	4.4
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations, fixed price contracts (in tons)	52.9
Remaining performance obligations, variable price contracts (in tons)	1.3

Leases (Narrative) (Details)	Jun. 30, 2021
Minimum
Lessee, Lease, Description [Line Items]
Operating lease, remaining lease terms	1 year
Maximum
Lessee, Lease, Description [Line Items]
Operating lease, remaining lease terms	6 years

Leases (Lease Assets and Liabilities) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Assets
Operating lease right-of-use assets	$ 15,744	$ 17,069
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other Assets, Noncurrent	Other Assets, Noncurrent
Financing lease right-of-use assets	$ 4,863	$ 5,512
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other Assets, Noncurrent	Other Assets, Noncurrent
Total Lease Assets	$ 20,607	$ 22,581
Liabilities
Financing lease liabilities - current	$ 888	$ 860
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	Accrued Liabilities, Current	Accrued Liabilities, Current
Operating lease liabilities - current	$ 2,486	$ 2,454
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Accrued Liabilities, Current	Accrued Liabilities, Current
Financing lease liabilities - long-term	$ 4,563	$ 5,014
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other Liabilities, Noncurrent	Other Liabilities, Noncurrent
Operating lease liabilities - long-term	$ 13,942	$ 15,278
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other Liabilities, Noncurrent	Other Liabilities, Noncurrent
Total Lease Liabilities	$ 21,879	$ 23,606

Leases (Weighted Average Lease Term And Discount Rate) (Details)	Jun. 30, 2021
Leases
Weighted average remaining lease term in years	5 years 5 months 26 days
Weighted average remaining lease term in years	3 years 9 months
Weighted average discount rate	5.50%
Weighted average discount rate	6.40%

Leases (Other Information Related to Leases) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Lease information:
Operating lease cost	$ 846	$ 905	$ 1,692	$ 1,928
Operating cash flows from operating leases	826	885	1,686	1,927
Financing lease cost	393	393	786	393
Operating cash flows from financing leases	$ 303	$ 303	$ 606	$ 303

Leases (Future Minimum Lease Payments) (Details) $ in Thousands	Jun. 30, 2021 USD ($)
Operating Leases
2021	$ 1,681
2022	3,317
2023	3,285
2024	3,200
2025	3,185
Thereafter	4,613
Total minimum lease payments	19,281
Less imputed interest	(2,853)
Total operating lease liability	16,428
Finance Leases
2021	606
2022	1,210
2023	1,210
2024	1,210
2025	2,111
Total minimum lease payments	6,347
Less imputed interest	(896)
Total finance lease liability	$ 5,451