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Delaware
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43-0921172
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(State or other jurisdiction
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(I.R.S. Employer
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of incorporation or organization)
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Identification Number)
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One CityPlace Drive, Suite 300, St. Louis, Missouri
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63141
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(Address of principal executive offices)
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(Zip code)
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Large accelerated filer
o
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Accelerated filer
o
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Non-accelerated filer
ý
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Smaller reporting company
o
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(Do not check if a smaller reporting company)
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Emerging growth company
o
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Page
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2
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Arch Coal, Inc. and Subsidiaries
Condensed Consolidated Statements of Operations
(in thousands, except per share data)
|
|||||||||||||
|
Successor
|
Predecessor
|
|
Successor
|
Predecessor
|
||||||||
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Three Months Ended September 30, 2017
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Three Months Ended September 30, 2016
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Nine Months Ended September 30, 2017
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Nine Months Ended September 30, 2016
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||||||||
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(Unaudited)
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(Unaudited)
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|
(Unaudited)
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(Unaudited)
|
||||||||
Revenues
|
$
|
613,538
|
|
$
|
550,305
|
|
|
$
|
1,764,379
|
|
$
|
1,398,709
|
|
Costs, expenses and other operating
|
|
|
|
|
|
|
|
||||||
Cost of sales (exclusive of items shown separately below)
|
495,424
|
|
442,462
|
|
|
1,391,872
|
|
1,264,464
|
|
||||
Depreciation, depletion and amortization
|
31,914
|
|
69,423
|
|
|
94,536
|
|
191,581
|
|
||||
Accretion on asset retirement obligations
|
7,580
|
|
7,965
|
|
|
22,826
|
|
24,321
|
|
||||
Amortization of sales contracts, net
|
13,861
|
|
104
|
|
|
42,903
|
|
(728
|
)
|
||||
Change in fair value of coal derivatives and coal trading activities, net
|
1,028
|
|
488
|
|
|
2,745
|
|
2,856
|
|
||||
Asset impairment and mine closure costs
|
—
|
|
46
|
|
|
—
|
|
129,267
|
|
||||
Selling, general and administrative expenses
|
21,052
|
|
20,498
|
|
|
63,721
|
|
59,343
|
|
||||
Gain on sale of Lone Mountain Processing, Inc.
|
(21,574
|
)
|
—
|
|
|
(21,574
|
)
|
—
|
|
||||
Other operating income, net
|
(8,236
|
)
|
(2,476
|
)
|
|
(14,095
|
)
|
(15,257
|
)
|
||||
|
541,049
|
|
538,510
|
|
|
1,582,934
|
|
1,655,847
|
|
||||
|
|
|
|
|
|
||||||||
Income (loss) from operations
|
72,489
|
|
11,795
|
|
|
181,445
|
|
(257,138
|
)
|
||||
Interest expense, net
|
|
|
|
|
|
|
|
||||||
Interest expense
|
(5,972
|
)
|
(46,164
|
)
|
|
(21,400
|
)
|
(135,888
|
)
|
||||
Interest and investment income
|
720
|
|
582
|
|
|
2,089
|
|
2,653
|
|
||||
|
(5,252
|
)
|
(45,582
|
)
|
|
(19,311
|
)
|
(133,235
|
)
|
||||
|
|
|
|
|
|
||||||||
Income (loss) before nonoperating expenses
|
67,237
|
|
(33,787
|
)
|
|
162,134
|
|
(390,373
|
)
|
||||
|
|
|
|
|
|
||||||||
Nonoperating expenses
|
|
|
|
|
|
||||||||
Net loss resulting from early retirement of debt and debt restructuring
|
(486
|
)
|
—
|
|
|
(2,547
|
)
|
(2,213
|
)
|
||||
Reorganization items, net
|
(43
|
)
|
(20,904
|
)
|
|
(2,892
|
)
|
(46,050
|
)
|
||||
|
(529
|
)
|
(20,904
|
)
|
|
(5,439
|
)
|
(48,263
|
)
|
||||
|
|
|
|
|
|
||||||||
Income (loss) before income taxes
|
66,708
|
|
(54,691
|
)
|
|
156,695
|
|
(438,636
|
)
|
||||
Benefit from income taxes
|
(1,643
|
)
|
(3,270
|
)
|
|
(484
|
)
|
(4,626
|
)
|
||||
Net income (loss)
|
$
|
68,351
|
|
$
|
(51,421
|
)
|
|
$
|
157,179
|
|
$
|
(434,010
|
)
|
|
|
|
|
|
|
||||||||
Net income (loss) per common share
|
|
|
|
|
|
|
|
||||||
Basic earnings (loss) per common share
|
$
|
2.90
|
|
$
|
(2.41
|
)
|
|
$
|
6.44
|
|
$
|
(20.38
|
)
|
Diluted earnings (loss) per common share
|
$
|
2.83
|
|
$
|
(2.41
|
)
|
|
$
|
6.32
|
|
$
|
(20.38
|
)
|
|
|
|
|
|
|
||||||||
Weighted average shares outstanding
|
|
|
|
|
|
||||||||
Basic weighted average shares outstanding
|
23,580
|
|
21,293
|
|
|
24,416
|
|
21,293
|
|
||||
Diluted weighted average shares outstanding
|
24,135
|
|
21,293
|
|
|
24,875
|
|
21,293
|
|
||||
|
|
|
|
|
|
||||||||
Dividends declared per common share
|
$
|
0.35
|
|
$
|
—
|
|
|
$
|
0.70
|
|
$
|
—
|
|
3
|
|
|
Successor
|
Predecessor
|
|
Successor
|
Predecessor
|
||||||||
|
|
Three Months Ended September 30, 2017
|
Three Months Ended September 30, 2016
|
|
Nine Months Ended September 30, 2017
|
Nine Months Ended September 30, 2016
|
||||||||
|
|
(Unaudited)
|
(Unaudited)
|
|
(Unaudited)
|
(Unaudited)
|
||||||||
Net income (loss)
|
|
$
|
68,351
|
|
$
|
(51,421
|
)
|
|
$
|
157,179
|
|
$
|
(434,010
|
)
|
|
|
|
|
|
|
|
||||||||
Derivative instruments
|
|
|
|
|
|
|
||||||||
Comprehensive income (loss) before tax
|
|
(19
|
)
|
(149
|
)
|
|
257
|
|
(535
|
)
|
||||
Income tax benefit (provision)
|
|
—
|
|
—
|
|
|
—
|
|
81
|
|
||||
|
|
(19
|
)
|
(149
|
)
|
|
257
|
|
(454
|
)
|
||||
Pension, postretirement and other post-employment benefits
|
|
|
|
|
|
|
||||||||
Comprehensive income (loss) before tax
|
|
(8,521
|
)
|
2,243
|
|
|
(5,367
|
)
|
(1,844
|
)
|
||||
Income tax benefit (provision)
|
|
—
|
|
—
|
|
|
—
|
|
481
|
|
||||
|
|
(8,521
|
)
|
2,243
|
|
|
(5,367
|
)
|
(1,363
|
)
|
||||
Available-for-sale securities
|
|
|
|
|
|
|
||||||||
Comprehensive income (loss) before tax
|
|
—
|
|
(438
|
)
|
|
(387
|
)
|
2,969
|
|
||||
Income tax benefit (provision)
|
|
—
|
|
—
|
|
|
—
|
|
(1,043
|
)
|
||||
|
|
—
|
|
(438
|
)
|
|
(387
|
)
|
1,926
|
|
||||
|
|
|
|
|
|
|
||||||||
Total other comprehensive income (loss)
|
|
(8,540
|
)
|
1,656
|
|
|
(5,497
|
)
|
109
|
|
||||
Total comprehensive income (loss)
|
|
$
|
59,811
|
|
$
|
(49,765
|
)
|
|
$
|
151,682
|
|
$
|
(433,901
|
)
|
4
|
|
September 30,
|
|
December 31,
|
||||
|
2017
|
|
2016
|
||||
|
(Unaudited)
|
|
|
||||
Assets
|
|
|
|
||||
Current assets
|
|
|
|
|
|
||
Cash and cash equivalents
|
$
|
298,337
|
|
|
$
|
305,372
|
|
Short term investments
|
154,629
|
|
|
88,072
|
|
||
Restricted cash
|
—
|
|
|
71,050
|
|
||
Trade accounts receivable
|
207,059
|
|
|
184,483
|
|
||
Other receivables
|
23,473
|
|
|
19,877
|
|
||
Inventories
|
122,436
|
|
|
113,462
|
|
||
Other current assets
|
63,685
|
|
|
96,306
|
|
||
Total current assets
|
869,619
|
|
|
878,622
|
|
||
Property, plant and equipment, net
|
980,801
|
|
|
1,053,603
|
|
||
Other assets
|
|
|
|
|
|
||
Equity investments
|
106,179
|
|
|
96,074
|
|
||
Other noncurrent assets
|
65,934
|
|
|
108,298
|
|
||
Total other assets
|
172,113
|
|
|
204,372
|
|
||
Total assets
|
$
|
2,022,533
|
|
|
$
|
2,136,597
|
|
Liabilities and Stockholders' Equity
|
|
|
|
||||
Current Liabilities
|
|
|
|
|
|
||
Accounts payable
|
$
|
137,664
|
|
|
$
|
95,953
|
|
Accrued expenses and other current liabilities
|
164,939
|
|
|
205,240
|
|
||
Current maturities of debt
|
8,566
|
|
|
11,038
|
|
||
Total current liabilities
|
311,169
|
|
|
312,231
|
|
||
Long-term debt
|
312,604
|
|
|
351,841
|
|
||
Asset retirement obligations
|
334,479
|
|
|
337,227
|
|
||
Accrued pension benefits
|
17,884
|
|
|
38,884
|
|
||
Accrued postretirement benefits other than pension
|
104,733
|
|
|
101,445
|
|
||
Accrued workers’ compensation
|
192,262
|
|
|
184,568
|
|
||
Other noncurrent liabilities
|
76,923
|
|
|
63,824
|
|
||
Total liabilities
|
1,350,054
|
|
|
1,390,020
|
|
||
|
|
|
|
||||
Stockholders' equity
|
|
|
|
|
|
||
Common stock, $0.01 par value, authorized 300,000 shares, issued 25,038 shares and 25,002 shares at September 30, 2017 and December 31, 2016, respectively
|
250
|
|
|
250
|
|
||
Paid-in capital
|
697,324
|
|
|
688,424
|
|
||
Retained earnings
|
173,676
|
|
|
33,449
|
|
||
Treasury stock, 2,919 shares at September 30, 2017, at cost
|
(217,728
|
)
|
|
—
|
|
||
Accumulated other comprehensive income
|
18,957
|
|
|
24,454
|
|
||
Total stockholders’ equity
|
672,479
|
|
|
746,577
|
|
||
Total liabilities and stockholders’ equity
|
$
|
2,022,533
|
|
|
$
|
2,136,597
|
|
5
|
|
Successor
|
Predecessor
|
||||
|
Nine Months Ended September 30, 2017
|
Nine Months Ended September 30, 2016
|
||||
|
(Unaudited)
|
(Unaudited)
|
||||
Operating activities
|
|
|
|
|
||
Net income (loss)
|
$
|
157,179
|
|
$
|
(434,010
|
)
|
Adjustments to reconcile to cash provided by operating activities:
|
|
|
|
|
||
Depreciation, depletion and amortization
|
94,536
|
|
191,581
|
|
||
Accretion on asset retirement obligations
|
22,826
|
|
24,321
|
|
||
Amortization of sales contracts, net
|
42,903
|
|
(728
|
)
|
||
Prepaid royalties expensed
|
2,905
|
|
4,791
|
|
||
Deferred income taxes
|
6,069
|
|
(419
|
)
|
||
Employee stock-based compensation expense
|
7,485
|
|
2,096
|
|
||
Gains on disposals and divestitures, net
|
(23,006
|
)
|
(6,628
|
)
|
||
Asset impairment and non-cash mine closure costs
|
—
|
|
119,194
|
|
||
Net loss resulting from early retirement of debt and debt restructuring
|
2,547
|
|
2,213
|
|
||
Non-cash bankruptcy reorganization items
|
—
|
|
(16,634
|
)
|
||
Amortization relating to financing activities
|
2,628
|
|
12,800
|
|
||
Changes in:
|
|
|
||||
Receivables
|
(24,110
|
)
|
(42,787
|
)
|
||
Inventories
|
(13,102
|
)
|
34,604
|
|
||
Accounts payable, accrued expenses and other current liabilities
|
5,103
|
|
90,920
|
|
||
Income taxes, net
|
(2,430
|
)
|
(4,217
|
)
|
||
Other
|
20,612
|
|
(8,331
|
)
|
||
Cash provided by (used in) operating activities
|
302,145
|
|
(31,234
|
)
|
||
Investing activities
|
|
|
|
|
||
Capital expenditures
|
(30,503
|
)
|
(82,434
|
)
|
||
Minimum royalty payments
|
(5,033
|
)
|
(305
|
)
|
||
Proceeds from (consideration paid for) disposals and divestitures
|
11,432
|
|
(2,921
|
)
|
||
Purchases of short term investments
|
(191,327
|
)
|
(98,750
|
)
|
||
Proceeds from sales of short term investments
|
123,996
|
|
187,006
|
|
||
Investments in and advances to affiliates, net
|
(9,216
|
)
|
(3,440
|
)
|
||
Withdrawals of restricted cash
|
71,048
|
|
15,979
|
|
||
Cash provided by (used in) investing activities
|
(29,603
|
)
|
15,135
|
|
||
Financing activities
|
|
|
|
|
||
Proceeds from issuance of term loan due 2024
|
298,500
|
|
—
|
|
||
Payments to extinguish term loan due 2021
|
(325,684
|
)
|
—
|
|
||
Payments on term loan due 2024
|
(1,500
|
)
|
—
|
|
||
Net payments on other debt
|
(5,992
|
)
|
(12,083
|
)
|
||
Debt financing costs
|
(10,043
|
)
|
(20,181
|
)
|
||
Net loss resulting from early retirement of debt and debt restructuring
|
(2,360
|
)
|
(2,213
|
)
|
||
Dividends paid
|
(16,763
|
)
|
—
|
|
||
Purchases of treasury stock
|
(215,735
|
)
|
—
|
|
||
Cash used in financing activities
|
(279,577
|
)
|
(34,477
|
)
|
||
Decrease in cash and cash equivalents
|
(7,035
|
)
|
(50,576
|
)
|
||
Cash and cash equivalents, beginning of period
|
305,372
|
|
450,781
|
|
||
Cash and cash equivalents, end of period
|
$
|
298,337
|
|
$
|
400,205
|
|
6
|
7
|
|
|
|
Pension,
|
|
|
|
|
||||||||
|
|
|
Postretirement
|
|
|
|
|
||||||||
|
|
|
and Other
|
|
|
|
Accumulated
|
||||||||
|
|
|
Post-
|
|
|
|
Other
|
||||||||
|
Derivative
|
|
Employment
|
|
Available-for-
|
|
Comprehensive
|
||||||||
|
Instruments
|
|
Benefits
|
|
Sale Securities
|
|
Income
|
||||||||
|
(In thousands)
|
||||||||||||||
Balance at December 31, 2016
|
$
|
—
|
|
|
$
|
24,067
|
|
|
$
|
387
|
|
|
$
|
24,454
|
|
Unrealized gains (losses)
|
168
|
|
|
(5,784
|
)
|
|
(55
|
)
|
|
(5,671
|
)
|
||||
Amounts reclassified from AOCI
|
88
|
|
|
418
|
|
|
(332
|
)
|
|
174
|
|
||||
Balance at September 30, 2017
|
$
|
256
|
|
|
$
|
18,701
|
|
|
$
|
—
|
|
|
$
|
18,957
|
|
8
|
|
||||||||||||||||
|
|
Successor
|
Predecessor
|
|
Successor
|
Predecessor
|
|
Line Item in the Condensed Consolidated Statement of Operations
|
||||||||
Details About AOCI Components
|
|
Three Months Ended September 30, 2017
|
Three Months Ended September 30, 2016
|
|
Nine Months Ended September 30, 2017
|
Nine Months Ended September 30, 2016
|
|
|||||||||
(In thousands)
|
|
|
|
|
|
|
|
|
||||||||
Derivative instruments
|
|
$
|
(88
|
)
|
$
|
76
|
|
|
$
|
(88
|
)
|
$
|
397
|
|
|
Revenues
|
|
|
—
|
|
—
|
|
|
—
|
|
(81
|
)
|
|
Benefit from income taxes
|
||||
|
|
$
|
(88
|
)
|
$
|
76
|
|
|
$
|
(88
|
)
|
$
|
316
|
|
|
Net of tax
|
|
|
|
|
|
|
|
|
|
||||||||
Pension, postretirement and other post-employment benefits
|
|
|
|
|
|
|
|
|
||||||||
Amortization of prior service credits
|
|
$
|
—
|
|
$
|
2,510
|
|
|
$
|
—
|
|
$
|
7,854
|
|
|
|
Amortization of actuarial gains (losses), net
|
|
—
|
|
(4,753
|
)
|
|
—
|
|
(6,010
|
)
|
|
|
||||
Pension settlement
|
|
228
|
|
—
|
|
|
715
|
|
—
|
|
|
|
||||
Actuarial curtailments
|
|
(773
|
)
|
—
|
|
|
(773
|
)
|
—
|
|
|
|
||||
Sale of Cumberland River pension plan
|
|
(360
|
)
|
—
|
|
|
(360
|
)
|
—
|
|
|
|
||||
|
|
(905
|
)
|
(2,243
|
)
|
|
(418
|
)
|
1,844
|
|
|
|
||||
|
|
—
|
|
—
|
|
|
—
|
|
(481
|
)
|
|
Benefit from income taxes
|
||||
|
|
$
|
(905
|
)
|
$
|
(2,243
|
)
|
|
$
|
(418
|
)
|
$
|
1,363
|
|
|
Net of tax
|
|
|
|
|
|
|
|
|
|
||||||||
Available-for-sale securities
|
|
$
|
—
|
|
$
|
632
|
|
|
$
|
332
|
|
$
|
(2,263
|
)
|
|
Interest and investment income
|
|
|
—
|
|
—
|
|
|
—
|
|
1,038
|
|
|
Benefit from income taxes
|
||||
|
|
$
|
—
|
|
$
|
632
|
|
|
$
|
332
|
|
$
|
(1,225
|
)
|
|
Net of tax
|
|
9
|
|
|
September 30,
|
|
December 31,
|
||||
|
|
2017
|
|
2016
|
||||
|
|
(In thousands)
|
||||||
Coal
|
|
$
|
48,753
|
|
|
$
|
37,268
|
|
Repair parts and supplies
|
|
73,683
|
|
|
76,194
|
|
||
|
|
$
|
122,436
|
|
|
$
|
113,462
|
|
10
|
|
September 30, 2017
|
||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
Balance Sheet
|
||||||||||||||
|
|
|
|
|
|
|
Classification
|
||||||||||||||||
|
|
|
Gross Unrealized
|
|
Fair
|
|
Short-Term
|
|
Other
|
||||||||||||||
|
Cost Basis
|
|
Gains
|
|
Losses
|
|
Value
|
|
Investments
|
|
Assets
|
||||||||||||
|
(In thousands)
|
||||||||||||||||||||||
Available-for-sale:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
U.S. treasury securities
|
$
|
60,870
|
|
|
$
|
41
|
|
|
$
|
(15
|
)
|
|
$
|
60,896
|
|
|
$
|
60,896
|
|
|
$
|
—
|
|
Corporate notes and bonds
|
93,753
|
|
|
17
|
|
|
(37
|
)
|
|
93,733
|
|
|
93,733
|
|
|
—
|
|
||||||
Total Investments
|
$
|
154,623
|
|
|
$
|
58
|
|
|
$
|
(52
|
)
|
|
$
|
154,629
|
|
|
$
|
154,629
|
|
|
$
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2016
|
||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
Balance Sheet
|
||||||||||||||
|
|
|
|
|
|
|
|
|
Classification
|
||||||||||||||
|
|
|
Gross Unrealized
|
|
Fair
|
|
Short-Term
|
|
Other
|
||||||||||||||
|
Cost Basis
|
|
Gains
|
|
Losses
|
|
Value
|
|
Investments
|
|
Assets
|
||||||||||||
|
(In thousands)
|
||||||||||||||||||||||
Available-for-sale:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Corporate notes and bonds
|
$
|
88,161
|
|
|
$
|
—
|
|
|
$
|
(89
|
)
|
|
$
|
88,072
|
|
|
$
|
88,072
|
|
|
$
|
—
|
|
Equity securities
|
1,749
|
|
|
388
|
|
|
—
|
|
|
2,137
|
|
|
—
|
|
|
2,137
|
|
||||||
Total Investments
|
$
|
89,910
|
|
|
$
|
388
|
|
|
$
|
(89
|
)
|
|
$
|
90,209
|
|
|
$
|
88,072
|
|
|
$
|
2,137
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2017
|
|
December 31, 2016
|
||||||||||||||||||||
|
Assets
|
|
Liabilities
|
|
Net Total
|
|
Assets
|
|
Liabilities
|
|
Net Total
|
||||||||||||
|
(In thousands)
|
|
|
|
(In thousands)
|
|
|
||||||||||||||||
Original fair value
|
$
|
97,196
|
|
|
$
|
31,742
|
|
|
|
|
$
|
97,196
|
|
|
$
|
31,742
|
|
|
|
||||
Accumulated amortization
|
(73,482
|
)
|
|
(29,782
|
)
|
|
|
|
(25,625
|
)
|
|
(24,829
|
)
|
|
|
||||||||
Total
|
$
|
23,714
|
|
|
$
|
1,960
|
|
|
$
|
21,754
|
|
|
$
|
71,571
|
|
|
$
|
6,913
|
|
|
$
|
64,658
|
|
Balance Sheet classification:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Other current
|
$
|
23,714
|
|
|
$
|
856
|
|
|
|
|
$
|
59,702
|
|
|
$
|
5,114
|
|
|
|
||||
Other noncurrent
|
$
|
—
|
|
|
$
|
1,104
|
|
|
|
|
$
|
11,869
|
|
|
$
|
1,799
|
|
|
|
11
|
(Tons in thousands)
|
|
2017
|
|
2018
|
|
Total
|
|||
Coal sales
|
|
267
|
|
|
546
|
|
|
813
|
|
Coal purchases
|
|
252
|
|
|
185
|
|
|
437
|
|
12
|
|
|
September 30, 2017
|
|
|
|
December 31, 2016
|
|
|
||||||||||||||||
Fair Value of Derivatives
|
|
Asset
|
|
Liability
|
|
|
|
Asset
|
|
Liability
|
|
|
||||||||||||
(In thousands)
|
|
Derivative
|
|
Derivative
|
|
|
|
Derivative
|
|
Derivative
|
|
|
||||||||||||
Derivatives Designated as Hedging Instruments
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Coal
|
|
$
|
3
|
|
|
$
|
—
|
|
|
|
|
|
$
|
—
|
|
|
$
|
(15
|
)
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Derivatives Not Designated as Hedging Instruments
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Heating oil -- diesel purchases
|
|
2,006
|
|
|
—
|
|
|
|
|
|
4,646
|
|
|
—
|
|
|
|
|
||||||
Coal -- held for trading purposes
|
|
42,203
|
|
|
(44,211
|
)
|
|
|
|
|
68,948
|
|
|
(68,740
|
)
|
|
|
|
||||||
Coal -- risk management
|
|
1,624
|
|
|
(1,915
|
)
|
|
|
|
|
475
|
|
|
(580
|
)
|
|
|
|
||||||
Natural gas
|
|
25
|
|
|
—
|
|
|
|
|
86
|
|
|
(13
|
)
|
|
|
||||||||
Total
|
|
45,858
|
|
|
(46,126
|
)
|
|
|
|
|
74,155
|
|
|
(69,333
|
)
|
|
|
|
||||||
Total derivatives
|
|
45,861
|
|
|
(46,126
|
)
|
|
|
|
|
74,155
|
|
|
(69,348
|
)
|
|
|
|
||||||
Effect of counterparty netting
|
|
(43,830
|
)
|
|
43,830
|
|
|
|
|
|
(69,247
|
)
|
|
69,247
|
|
|
|
|
||||||
Net derivatives as classified in the balance sheets
|
|
$
|
2,031
|
|
|
$
|
(2,296
|
)
|
|
$
|
(265
|
)
|
|
$
|
4,908
|
|
|
$
|
(101
|
)
|
|
$
|
4,807
|
|
|
|
Gain (Loss) Recognized in Other Comprehensive Income (Effective Portion)
|
|
Gains (Losses) Reclassified from Other Comprehensive Income into Income
(Effective Portion)
|
||||||||||
|
|
Successor
|
Predecessor
|
|
Successor
|
Predecessor
|
||||||||
|
|
2017
|
2016
|
|
2017
|
2016
|
||||||||
Coal sales
|
(1)
|
$
|
(169
|
)
|
$
|
(612
|
)
|
|
$
|
—
|
|
$
|
108
|
|
Coal purchases
|
(2)
|
152
|
|
541
|
|
|
—
|
|
(32
|
)
|
||||
Totals
|
|
$
|
(17
|
)
|
$
|
(71
|
)
|
|
$
|
—
|
|
$
|
76
|
|
13
|
|
|
Gain (Loss) Recognized
|
|||||
|
|
Successor
|
Predecessor
|
||||
|
|
2017
|
2016
|
||||
Coal — unrealized
|
(3)
|
$
|
(212
|
)
|
$
|
(566
|
)
|
Coal — realized
|
(4)
|
$
|
—
|
|
$
|
(133
|
)
|
Natural gas — unrealized
|
(3)
|
$
|
(120
|
)
|
$
|
(79
|
)
|
Heating oil — diesel purchases
|
(4)
|
$
|
822
|
|
$
|
(770
|
)
|
Foreign currency
|
(4)
|
$
|
—
|
|
$
|
(314
|
)
|
|
|
Gain (Loss) Recognized in Other Comprehensive Income (Effective Portion)
|
|
Gains (Losses) Reclassified from Other Comprehensive Income into Income
(Effective Portion) |
||||||||||
|
|
Successor
|
Predecessor
|
|
Successor
|
Predecessor
|
||||||||
|
|
2017
|
2016
|
|
2017
|
2016
|
||||||||
Coal sales
|
(1)
|
$
|
100
|
|
$
|
(672
|
)
|
|
$
|
—
|
|
$
|
1,634
|
|
Coal purchases
|
(2)
|
(82
|
)
|
536
|
|
|
—
|
|
(1,237
|
)
|
||||
Totals
|
|
$
|
18
|
|
$
|
(136
|
)
|
|
$
|
—
|
|
$
|
397
|
|
|
|
Gain (Loss) Recognized
|
|||||
|
|
Successor
|
Predecessor
|
||||
|
|
2017
|
2016
|
||||
Coal — unrealized
|
(3)
|
$
|
(186
|
)
|
$
|
(1,662
|
)
|
Coal — realized
|
(4)
|
$
|
—
|
|
$
|
(476
|
)
|
Natural gas — unrealized
|
(3)
|
$
|
(616
|
)
|
$
|
(463
|
)
|
Heating oil — diesel purchases
|
(4)
|
$
|
(3,903
|
)
|
$
|
826
|
|
Foreign currency
|
(4)
|
$
|
—
|
|
$
|
(451
|
)
|
14
|
|
|
September 30,
|
|
December 31,
|
||||
|
|
2017
|
|
2016
|
||||
|
|
(In thousands)
|
||||||
Payroll and employee benefits
|
|
$
|
47,251
|
|
|
$
|
58,468
|
|
Taxes other than income taxes
|
|
74,909
|
|
|
92,733
|
|
||
Interest
|
|
156
|
|
|
8,032
|
|
||
Acquired sales contracts
|
|
856
|
|
|
5,114
|
|
||
Workers’ compensation
|
|
15,961
|
|
|
15,184
|
|
||
Asset retirement obligations
|
|
16,760
|
|
|
19,515
|
|
||
Other
|
|
9,046
|
|
|
6,194
|
|
||
|
|
$
|
164,939
|
|
|
$
|
205,240
|
|
|
|
September 30,
|
|
December 31,
|
||||
|
|
2017
|
|
2016
|
||||
|
|
(In thousands)
|
||||||
Term loan due 2024 ($298.5 million face value)
|
|
$
|
297,137
|
|
|
$
|
—
|
|
Term loan due 2021 ($325.7 million face value)
|
|
—
|
|
|
325,684
|
|
||
Other
|
|
31,319
|
|
|
37,195
|
|
||
Debt issuance costs
|
|
(7,286
|
)
|
|
—
|
|
||
|
|
321,170
|
|
|
362,879
|
|
||
Less: current maturities of debt
|
|
8,566
|
|
|
11,038
|
|
||
Long-term debt
|
|
$
|
312,604
|
|
|
$
|
351,841
|
|
15
|
16
|
17
|
Notional Amount (in millions)
|
Effective Date
|
Fixed Rate
|
Receive Rate
|
Expiration Date
|
|
|
|
|
|
$250.0
|
June 30, 2017
|
1.372%
|
1-month LIBOR
|
June 29, 2018
|
$250.0
|
June 29, 2018
|
1.662%
|
1-month LIBOR
|
June 28, 2019
|
$200.0
|
June 28, 2019
|
1.952%
|
1-month LIBOR
|
June 30, 2020
|
$100.0
|
June 30, 2020
|
2.182%
|
1-month LIBOR
|
June 30, 2021
|
18
|
|
Successor
|
Predecessor
|
|
Successor
|
Predecessor
|
||||||||
|
Three Months Ended September 30, 2017
|
Three Months Ended September 30, 2016
|
|
Nine Months Ended September 30, 2017
|
Nine Months Ended September 30, 2016
|
||||||||
(In thousands)
|
|
|
|
|
|
||||||||
Income tax provision (benefit) at statutory rate
|
$
|
23,347
|
|
$
|
(19,143
|
)
|
|
$
|
54,843
|
|
$
|
(153,523
|
)
|
Percentage depletion allowance
|
(7,708
|
)
|
(11,041
|
)
|
|
(20,439
|
)
|
(30,799
|
)
|
||||
State taxes, net of effect of federal taxes
|
728
|
|
(2,195
|
)
|
|
1,619
|
|
(9,256
|
)
|
||||
Change in valuation allowance
|
(19,118
|
)
|
31,955
|
|
|
(39,336
|
)
|
191,182
|
|
||||
Other, net
|
1,108
|
|
(2,846
|
)
|
|
2,829
|
|
(2,230
|
)
|
||||
|
$
|
(1,643
|
)
|
$
|
(3,270
|
)
|
|
$
|
(484
|
)
|
$
|
(4,626
|
)
|
|
|
September 30, 2017
|
||||||||||||||
|
|
Total
|
|
Level 1
|
|
Level 2
|
|
Level 3
|
||||||||
|
|
(In thousands)
|
||||||||||||||
Assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Investments in marketable securities
|
|
$
|
154,629
|
|
|
$
|
60,896
|
|
|
$
|
93,733
|
|
|
$
|
—
|
|
Derivatives
|
|
2,268
|
|
|
—
|
|
|
237
|
|
|
2,031
|
|
||||
Total assets
|
|
$
|
156,897
|
|
|
$
|
60,896
|
|
|
$
|
93,970
|
|
|
$
|
2,031
|
|
Liabilities:
|
|
|
|
|
|
|
|
|
||||||||
Derivatives
|
|
$
|
2,296
|
|
|
$
|
2,305
|
|
|
$
|
34
|
|
|
$
|
(43
|
)
|
19
|
|
|
Three Months Ended September 30, 2017
|
|
Nine Months Ended September 30, 2017
|
||||
|
|
(In thousands)
|
||||||
Balance, beginning of period
|
|
$
|
698
|
|
|
$
|
4,537
|
|
Realized and unrealized gains recognized in earnings, net
|
|
644
|
|
|
(4,756
|
)
|
||
Purchases
|
|
891
|
|
|
3,444
|
|
||
Issuances
|
|
(16
|
)
|
|
(515
|
)
|
||
Settlements
|
|
(143
|
)
|
|
(636
|
)
|
||
Ending balance
|
|
$
|
2,074
|
|
|
$
|
2,074
|
|
|
Successor
|
Predecessor
|
|
Successor
|
Predecessor
|
||||
|
Three Months Ended September 30, 2017
|
Three Months Ended September 30, 2016
|
|
Nine Months Ended September 30, 2017
|
Nine Months Ended September 30, 2016
|
||||
(In Thousands)
|
|
|
|
|
|
||||
Weighted average shares outstanding:
|
|
|
|
|
|
||||
Basic weighted average shares outstanding
|
23,580
|
|
21,293
|
|
|
24,416
|
|
21,293
|
|
Effect of dilutive securities
|
555
|
|
—
|
|
|
459
|
|
—
|
|
|
|
|
|
|
|
||||
Diluted weighted average shares outstanding
|
24,135
|
|
21,293
|
|
|
24,875
|
|
21,293
|
|
20
|
|
Successor
|
Predecessor
|
|
Successor
|
Predecessor
|
||||||||
|
Three Months Ended September 30, 2017
|
Three Months Ended September 30, 2016
|
|
Nine Months Ended September 30, 2017
|
Nine Months Ended September 30, 2016
|
||||||||
(In thousands)
|
|
|
|
|
|
||||||||
Self-insured occupational disease benefits:
|
|
|
|
|
|
||||||||
Service cost
|
$
|
1,558
|
|
$
|
1,051
|
|
|
$
|
4,675
|
|
$
|
3,466
|
|
Interest cost
|
1,169
|
|
1,098
|
|
|
3,506
|
|
3,184
|
|
||||
Net amortization
|
—
|
|
2,178
|
|
|
—
|
|
4,325
|
|
||||
Curtailments
|
$
|
(4,660
|
)
|
$
|
—
|
|
|
$
|
(4,660
|
)
|
$
|
4,156
|
|
Total occupational disease
|
$
|
(1,933
|
)
|
$
|
4,327
|
|
|
$
|
3,521
|
|
$
|
15,131
|
|
Traumatic injury claims and assessments
|
3,077
|
|
2,415
|
|
|
8,487
|
|
6,628
|
|
||||
Total workers’ compensation expense
|
$
|
1,144
|
|
$
|
6,742
|
|
|
$
|
12,008
|
|
$
|
21,759
|
|
|
Successor
|
Predecessor
|
|
Successor
|
Predecessor
|
||||||||
|
Three Months Ended September 30, 2017
|
Three Months Ended September 30, 2016
|
|
Nine Months Ended September 30, 2017
|
Nine Months Ended September 30, 2016
|
||||||||
(In thousands)
|
|
|
|
|
|
||||||||
Interest cost
|
$
|
2,736
|
|
$
|
2,803
|
|
|
$
|
8,718
|
|
$
|
9,338
|
|
Expected return on plan assets
|
(3,913
|
)
|
(4,641
|
)
|
|
(12,909
|
)
|
(13,623
|
)
|
||||
Pension settlement
|
(229
|
)
|
—
|
|
|
(716
|
)
|
454
|
|
||||
Amortization of other actuarial losses
|
—
|
|
2,292
|
|
|
—
|
|
3,973
|
|
||||
Net benefit cost (credit)
|
$
|
(1,406
|
)
|
$
|
454
|
|
|
$
|
(4,907
|
)
|
$
|
142
|
|
21
|
|
Successor
|
Predecessor
|
|
Successor
|
Predecessor
|
||||||||
|
Three Months Ended September 30, 2017
|
Three Months Ended September 30, 2016
|
|
Nine Months Ended September 30, 2017
|
Nine Months Ended September 30, 2016
|
||||||||
(In thousands)
|
|
|
|
|
|
||||||||
Service cost
|
$
|
170
|
|
$
|
128
|
|
|
$
|
511
|
|
$
|
393
|
|
Interest cost
|
1,058
|
|
951
|
|
|
3,175
|
|
3,223
|
|
||||
Curtailments
|
(520
|
)
|
—
|
|
|
(520
|
)
|
(970
|
)
|
||||
Amortization of prior service credits
|
—
|
|
(2,509
|
)
|
|
—
|
|
(7,854
|
)
|
||||
Amortization of other actuarial losses (gains)
|
—
|
|
283
|
|
|
—
|
|
(849
|
)
|
||||
Net benefit cost (credit)
|
$
|
708
|
|
$
|
(1,147
|
)
|
|
$
|
3,166
|
|
$
|
(6,057
|
)
|
22
|
23
|
|
|
PRB
|
|
MET
|
|
Other
Thermal
|
|
Corporate,
Other and
Eliminations
|
|
Consolidated
|
||||||||||
Successor Periods
|
|
(in thousands)
|
||||||||||||||||||
Three Months Ended September 30, 2017
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Revenues
|
|
$
|
275,999
|
|
|
$
|
238,946
|
|
|
$
|
93,859
|
|
|
$
|
4,734
|
|
|
$
|
613,538
|
|
Adjusted EBITDAR
|
|
48,768
|
|
|
53,346
|
|
|
21,217
|
|
|
(19,061
|
)
|
|
104,270
|
|
|||||
Depreciation, depletion and amortization
|
|
9,577
|
|
|
18,479
|
|
|
3,465
|
|
|
393
|
|
|
31,914
|
|
|||||
Accretion on asset retirement obligation
|
|
5,040
|
|
|
511
|
|
|
540
|
|
|
1,489
|
|
|
7,580
|
|
|||||
Capital expenditures
|
|
2,047
|
|
|
4,597
|
|
|
4,013
|
|
|
2,924
|
|
|
13,581
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Nine Months Ended September 30, 2017
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Revenues
|
|
$
|
780,006
|
|
|
$
|
692,178
|
|
|
$
|
287,404
|
|
|
$
|
4,791
|
|
|
$
|
1,764,379
|
|
Adjusted EBITDAR
|
|
128,562
|
|
|
184,208
|
|
|
75,369
|
|
|
(68,003
|
)
|
|
320,136
|
|
|||||
Depreciation, depletion and amortization
|
|
27,661
|
|
|
55,629
|
|
|
9,950
|
|
|
1,296
|
|
|
94,536
|
|
|||||
Accretion on asset retirement obligation
|
|
15,120
|
|
|
1,568
|
|
|
1,621
|
|
|
4,517
|
|
|
22,826
|
|
|||||
Capital expenditures
|
|
2,997
|
|
|
16,032
|
|
|
6,653
|
|
|
4,821
|
|
|
30,503
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Predecessor Periods
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Three Months Ended September 30, 2016
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Revenues
|
|
$
|
295,891
|
|
|
$
|
152,986
|
|
|
$
|
96,889
|
|
|
$
|
4,539
|
|
|
$
|
550,305
|
|
Adjusted EBITDAR
|
|
78,880
|
|
|
9,092
|
|
|
28,704
|
|
|
(27,343
|
)
|
|
89,333
|
|
|||||
Depreciation, depletion and amortization
|
|
37,246
|
|
|
18,636
|
|
|
12,513
|
|
|
1,028
|
|
|
69,423
|
|
|||||
Accretion on asset retirement obligation
|
|
5,647
|
|
|
588
|
|
|
663
|
|
|
1,067
|
|
|
7,965
|
|
|||||
Capital expenditures
|
|
113
|
|
|
6,966
|
|
|
1,001
|
|
|
216
|
|
|
8,296
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Nine Months Ended September 30, 2016
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Revenues
|
|
$
|
726,747
|
|
|
$
|
437,069
|
|
|
$
|
213,052
|
|
|
$
|
21,841
|
|
|
$
|
1,398,709
|
|
Adjusted EBITDAR
|
|
113,185
|
|
|
11,851
|
|
|
31,448
|
|
|
(69,181
|
)
|
|
87,303
|
|
|||||
Depreciation, depletion and amortization
|
|
100,151
|
|
|
55,311
|
|
|
32,310
|
|
|
3,809
|
|
|
191,581
|
|
|||||
Accretion on asset retirement obligation
|
|
16,940
|
|
|
1,765
|
|
|
1,988
|
|
|
3,628
|
|
|
24,321
|
|
|||||
Capital expenditures
|
|
612
|
|
|
17,296
|
|
|
3,895
|
|
|
60,631
|
|
|
82,434
|
|
24
|
|
|
Successor
|
Predecessor
|
|
Successor
|
Predecessor
|
||||||||
|
|
Three Months Ended September 30,
|
Three Months Ended September 30,
|
|
Nine Months Ended September 30,
|
Nine Months Ended September 30,
|
||||||||
|
|
2017
|
2016
|
|
2017
|
2016
|
||||||||
(In thousands)
|
|
|
|
|
|
|
||||||||
Adjusted EBITDAR
|
|
$
|
104,270
|
|
$
|
89,333
|
|
|
$
|
320,136
|
|
$
|
87,303
|
|
Depreciation, depletion and amortization
|
|
(31,914
|
)
|
(69,423
|
)
|
|
(94,536
|
)
|
(191,581
|
)
|
||||
Accretion on asset retirement obligations
|
|
(7,580
|
)
|
(7,965
|
)
|
|
(22,826
|
)
|
(24,321
|
)
|
||||
Amortization of sales contracts, net
|
|
(13,861
|
)
|
(104
|
)
|
|
(42,903
|
)
|
728
|
|
||||
Asset impairment and mine closure costs
|
|
—
|
|
(46
|
)
|
|
—
|
|
(129,267
|
)
|
||||
Gain on sale of Lone Mountain Processing, Inc.
|
|
21,574
|
|
—
|
|
|
21,574
|
|
—
|
|
||||
Interest expense, net
|
|
(5,252
|
)
|
(45,582
|
)
|
|
(19,311
|
)
|
(133,235
|
)
|
||||
Net loss resulting from early retirement of debt and debt restructuring
|
|
(486
|
)
|
—
|
|
|
(2,547
|
)
|
(2,213
|
)
|
||||
Reorganization items, net
|
|
(43
|
)
|
(20,904
|
)
|
|
(2,892
|
)
|
(46,050
|
)
|
||||
Income (loss) before income taxes
|
|
$
|
66,708
|
|
$
|
(54,691
|
)
|
|
$
|
156,695
|
|
$
|
(438,636
|
)
|
25
|
26
|
|
|
Successor
|
||||||
|
|
Three Months Ended September 30,
|
|
Nine Months Ended September 30,
|
||||
|
|
2017
|
|
2017
|
||||
|
|
(In thousands)
|
||||||
Coal sales
|
|
$
|
613,538
|
|
|
$
|
1,764,379
|
|
Tons sold
|
|
26,307
|
|
|
74,506
|
|
|
Successor
|
||||||
|
Three Months Ended September 30,
|
|
Nine Months Ended September 30,
|
||||
|
2017
|
|
2017
|
||||
|
(In thousands)
|
||||||
Cost of sales (exclusive of items shown separately below)
|
$
|
495,424
|
|
|
$
|
1,391,872
|
|
Depreciation, depletion and amortization
|
31,914
|
|
|
94,536
|
|
||
Accretion on asset retirement obligations
|
7,580
|
|
|
22,826
|
|
||
Amortization of sales contracts, net
|
13,861
|
|
|
42,903
|
|
||
Change in fair value of coal derivatives and coal trading activities, net
|
1,028
|
|
|
2,745
|
|
||
Selling, general and administrative expenses
|
21,052
|
|
|
63,721
|
|
||
Gain on sale of Lone Mountain Processing, Inc.
|
(21,574
|
)
|
|
(21,574
|
)
|
||
Other operating income, net
|
(8,236
|
)
|
|
(14,095
|
)
|
||
Total costs, expenses and other
|
$
|
541,049
|
|
|
$
|
1,582,934
|
|
27
|
|
Successor
|
||||||
|
Three Months Ended September 30,
|
|
Nine Months Ended September 30,
|
||||
|
2017
|
|
2017
|
||||
|
(In thousands)
|
||||||
Net loss resulting from early retirement of debt and debt restructuring
|
$
|
(486
|
)
|
|
$
|
(2,547
|
)
|
Reorganization items, net
|
(43
|
)
|
|
(2,892
|
)
|
||
Total nonoperating expense
|
$
|
(529
|
)
|
|
$
|
(5,439
|
)
|
|
Successor
|
||||||
|
Three Months Ended September 30,
|
|
Nine Months Ended September 30,
|
||||
|
2017
|
|
2017
|
||||
|
(In thousands)
|
||||||
Benefit from income taxes
|
$
|
(1,643
|
)
|
|
$
|
(484
|
)
|
28
|
|
Successor
|
||||||
|
Three Months Ended September 30,
|
|
Nine Months Ended September 30,
|
||||
|
2017
|
|
2017
|
||||
Powder River Basin
|
|
|
|
||||
Tons sold (in thousands)
|
21,713
|
|
|
61,131
|
|
||
Coal sales per ton sold
|
$
|
12.51
|
|
|
$
|
12.54
|
|
Cash cost per ton sold
|
$
|
10.27
|
|
|
$
|
10.45
|
|
Cash operating margin per ton sold
|
$
|
2.24
|
|
|
$
|
2.09
|
|
Adjusted EBITDAR (in thousands)
|
$
|
48,768
|
|
|
$
|
128,562
|
|
Metallurgical
|
|
|
|
||||
Tons sold (in thousands)
|
2,221
|
|
|
6,385
|
|
||
Coal sales per ton sold
|
$
|
88.60
|
|
|
$
|
89.98
|
|
Cash cost per ton sold
|
$
|
64.46
|
|
|
$
|
61.11
|
|
Cash operating margin per ton sold
|
$
|
24.14
|
|
|
$
|
28.87
|
|
Adjusted EBITDAR (in thousands)
|
$
|
53,346
|
|
|
$
|
184,208
|
|
Other Thermal
|
|
|
|
||||
Tons sold (in thousands)
|
2,326
|
|
|
6,943
|
|
||
Coal sales per ton sold
|
$
|
35.08
|
|
|
$
|
34.67
|
|
Cash cost per ton sold
|
$
|
26.05
|
|
|
$
|
23.98
|
|
Cash operating margin per ton sold
|
$
|
9.03
|
|
|
$
|
10.69
|
|
Adjusted EBITDAR (in thousands)
|
$
|
21,217
|
|
|
$
|
75,369
|
|
29
|
30
|
|
|
Predecessor
|
||||||
|
|
Three Months Ended September 30,
|
|
Nine Months Ended September 30,
|
||||
|
|
2016
|
|
2016
|
||||
|
|
(In thousands)
|
||||||
Coal sales
|
|
$
|
550,305
|
|
|
$
|
1,398,709
|
|
Tons sold
|
|
27,525
|
|
|
67,128
|
|
|
Predecessor
|
||||||
|
Three Months Ended September 30,
|
|
Nine Months Ended September 30,
|
||||
|
2016
|
|
2016
|
||||
|
(In thousands)
|
||||||
Cost of sales (exclusive of items shown separately below)
|
$
|
442,462
|
|
|
$
|
1,264,464
|
|
Depreciation, depletion and amortization
|
69,423
|
|
|
191,581
|
|
||
Accretion on asset retirement obligations
|
7,965
|
|
|
24,321
|
|
||
Amortization of sales contracts, net
|
104
|
|
|
(728
|
)
|
||
Change in fair value of coal derivatives and coal trading activities, net
|
488
|
|
|
2,856
|
|
||
Asset impairment and mine closure costs
|
46
|
|
|
129,267
|
|
||
Selling, general and administrative expenses
|
20,498
|
|
|
59,343
|
|
||
Other operating income, net
|
(2,476
|
)
|
|
(15,257
|
)
|
||
Total costs, expenses and other
|
$
|
538,510
|
|
|
$
|
1,655,847
|
|
31
|
|
Predecessor
|
||||||
|
Three Months Ended September 30,
|
|
Nine Months Ended September 30,
|
||||
|
2016
|
|
2016
|
||||
|
(In thousands)
|
||||||
Net loss resulting from early retirement of debt and debt restructuring
|
$
|
—
|
|
|
$
|
(2,213
|
)
|
Reorganization items, net
|
(20,904
|
)
|
|
(46,050
|
)
|
||
Total nonoperating expense
|
$
|
(20,904
|
)
|
|
$
|
(48,263
|
)
|
|
Predecessor
|
||||||
|
Three Months Ended September 30,
|
|
Nine Months Ended September 30,
|
||||
|
2016
|
|
2016
|
||||
|
(In thousands)
|
||||||
Benefit from income taxes
|
$
|
(3,270
|
)
|
|
$
|
(4,626
|
)
|
32
|
|
Predecessor
|
||||||
|
Three Months Ended September 30,
|
|
Nine Months Ended September 30,
|
||||
|
2016
|
|
2016
|
||||
Powder River Basin
|
|
|
|
||||
Tons sold (in thousands)
|
22,767
|
|
|
54,911
|
|
||
Coal sales per ton sold
|
$
|
12.79
|
|
|
$
|
13.01
|
|
Cash cost per ton sold
|
$
|
9.34
|
|
|
$
|
10.95
|
|
Cash operating margin per ton sold
|
$
|
3.45
|
|
|
$
|
2.06
|
|
Adjusted EBITDAR (in thousands)
|
$
|
78,880
|
|
|
$
|
113,185
|
|
Metallurgical
|
|
|
|
||||
Tons sold (in thousands)
|
2,220
|
|
|
6,692
|
|
||
Coal sales per ton sold
|
$
|
55.37
|
|
|
$
|
53.15
|
|
Cash cost per ton sold
|
$
|
51.29
|
|
|
$
|
51.40
|
|
Cash operating margin per ton sold
|
$
|
4.08
|
|
|
$
|
1.75
|
|
Adjusted EBITDAR (in thousands)
|
$
|
9,092
|
|
|
$
|
11,851
|
|
Other Thermal
|
|
|
|
||||
Tons sold (in thousands)
|
2,468
|
|
|
5,181
|
|
||
Coal sales per ton sold
|
$
|
34.52
|
|
|
$
|
36.16
|
|
Cash cost per ton sold
|
$
|
23.10
|
|
|
$
|
30.28
|
|
Cash operating margin per ton sold
|
$
|
11.42
|
|
|
$
|
5.88
|
|
Adjusted EBITDAR (in thousands)
|
$
|
28,704
|
|
|
$
|
31,448
|
|
33
|
34
|
|
Successor
|
Predecessor
|
|
Successor
|
Predecessor
|
||||||||
|
Three Months Ended September 30,
|
Three Months Ended September 30,
|
|
Nine Months Ended September 30,
|
Nine Months Ended September 30,
|
||||||||
|
2017
|
2016
|
|
2017
|
2016
|
||||||||
|
|
|
|
|
|
||||||||
(In thousands)
|
|
|
|
|
|
||||||||
Reported segment coal sales revenues
|
$
|
550,086
|
|
$
|
499,339
|
|
|
$
|
1,582,051
|
|
$
|
1,257,219
|
|
Coal risk management derivative settlements classified in “other (income) expense, net”
|
19
|
|
117
|
|
|
19
|
|
448
|
|
||||
Coal sales revenues from idled or otherwise disposed operations not included in segments
|
3,719
|
|
4,513
|
|
|
3,769
|
|
19,368
|
|
||||
Transportation costs
|
59,714
|
|
46,336
|
|
|
178,540
|
|
121,674
|
|
||||
Revenues in the condensed consolidated statements of operations
|
$
|
613,538
|
|
$
|
550,305
|
|
|
$
|
1,764,379
|
|
$
|
1,398,709
|
|
|
Successor
|
Predecessor
|
|
Successor
|
Predecessor
|
||||||||
|
Three Months Ended September 30,
|
Three Months Ended September 30,
|
|
Nine Months Ended September 30,
|
Nine Months Ended September 30,
|
||||||||
|
2017
|
2016
|
|
2017
|
2016
|
||||||||
|
|
|
|
|
|
||||||||
(In thousands)
|
|
|
|
|
|
||||||||
Reported segment cash cost of tons sold
|
$
|
426,822
|
|
$
|
383,511
|
|
|
$
|
1,195,770
|
|
$
|
1,102,386
|
|
Diesel fuel risk management derivative settlements classified in “other (income) expense, net”
|
(921
|
)
|
(1,154
|
)
|
|
(2,416
|
)
|
(3,696
|
)
|
||||
Transportation costs
|
59,714
|
|
46,336
|
|
|
178,540
|
|
121,674
|
|
||||
Cash cost of coal sold from idled or otherwise disposed operations not included in segments
|
7,979
|
|
13,018
|
|
|
16,660
|
|
42,513
|
|
||||
Other (operating overhead, certain actuarials, etc.)
|
1,830
|
|
751
|
|
|
3,318
|
|
1,587
|
|
||||
Cost of sales in the condensed consolidated statements of operations
|
$
|
495,424
|
|
$
|
442,462
|
|
|
$
|
1,391,872
|
|
$
|
1,264,464
|
|
35
|
|
Successor
|
Predecessor
|
|
Successor
|
Predecessor
|
||||||||
|
Three Months Ended September 30,
|
Three Months Ended September 30,
|
|
Nine Months Ended September 30,
|
Nine Months Ended September 30,
|
||||||||
|
2017
|
2016
|
|
2017
|
2016
|
||||||||
(In thousands)
|
|
|
|
|
|
||||||||
Reported Segment Adjusted EBITDAR
|
$
|
123,331
|
|
$
|
116,676
|
|
|
$
|
388,139
|
|
$
|
156,484
|
|
EBITDA from idled or otherwise disposed operations
|
(3,824
|
)
|
(7,674
|
)
|
|
(10,758
|
)
|
(14,514
|
)
|
||||
Selling, general, and administrative expenses
|
(21,052
|
)
|
(20,498
|
)
|
|
(63,721
|
)
|
(59,343
|
)
|
||||
Other
|
5,815
|
|
829
|
|
|
6,476
|
|
4,676
|
|
||||
Adjusted EBITDAR
|
104,270
|
|
89,333
|
|
|
320,136
|
|
87,303
|
|
||||
Benefit from income taxes
|
1,643
|
|
3,270
|
|
|
484
|
|
4,626
|
|
||||
Interest expense, net
|
(5,252
|
)
|
(45,582
|
)
|
|
(19,311
|
)
|
(133,235
|
)
|
||||
Depreciation, depletion and amortization
|
(31,914
|
)
|
(69,423
|
)
|
|
(94,536
|
)
|
(191,581
|
)
|
||||
Accretion on asset retirement obligations
|
(7,580
|
)
|
(7,965
|
)
|
|
(22,826
|
)
|
(24,321
|
)
|
||||
Amortization of sales contracts, net
|
(13,861
|
)
|
(104
|
)
|
|
(42,903
|
)
|
728
|
|
||||
Asset impairment and mine closure costs
|
—
|
|
(46
|
)
|
|
—
|
|
(129,267
|
)
|
||||
Gain on sale of Lone Mountain Processing, Inc.
|
21,574
|
|
—
|
|
|
21,574
|
|
—
|
|
||||
Net loss resulting from early retirement of debt and debt restructuring
|
(486
|
)
|
—
|
|
|
(2,547
|
)
|
(2,213
|
)
|
||||
Reorganization items, net
|
(43
|
)
|
(20,904
|
)
|
|
(2,892
|
)
|
(46,050
|
)
|
||||
Net income (loss)
|
$
|
68,351
|
|
$
|
(51,421
|
)
|
|
$
|
157,179
|
|
$
|
(434,010
|
)
|
36
|
37
|
|
|
Successor
|
Predecessor
|
||||
|
|
Nine Months Ended September 30,
|
Nine Months Ended September 30,
|
||||
|
|
2017
|
2016
|
||||
(In thousands)
|
|
|
|
||||
Cash provided by (used in):
|
|
|
|
|
|
||
Operating activities
|
|
$
|
302,145
|
|
$
|
(31,234
|
)
|
Investing activities
|
|
(29,603
|
)
|
15,135
|
|
||
Financing activities
|
|
(279,577
|
)
|
(34,477
|
)
|
38
|
39
|
|
|
2017
|
|
2018
|
||||||||||
|
|
Tons
|
|
$ per ton
|
|
Tons
|
|
$ per ton
|
||||||
Metallurgical
|
|
(in millions)
|
|
|
|
|
(in millions)
|
|
|
|
||||
Committed, Priced Coking
|
|
6.0
|
|
|
$
|
100.20
|
|
|
0.5
|
|
|
$
|
105.00
|
|
Committed, Unpriced Coking
|
|
0.6
|
|
|
|
|
|
2.4
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
||||||
Committed, Priced Thermal
|
|
0.9
|
|
|
$
|
24.86
|
|
|
0.4
|
|
|
$
|
30.45
|
|
Committed, Unpriced Thermal
|
|
—
|
|
|
|
|
—
|
|
|
|
||||
|
|
|
|
|
|
|
|
|
||||||
Powder River Basin
|
|
|
|
|
|
|
|
|
|
|
|
|
||
Committed, Priced
|
|
81.1
|
|
|
$
|
12.47
|
|
|
47.5
|
|
|
$
|
12.05
|
|
Committed, Unpriced
|
|
0.9
|
|
|
|
|
|
2.8
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
||||||
Other Thermal
|
|
|
|
|
|
|
|
|
|
|||||
Committed, Priced
|
|
9.3
|
|
|
$
|
34.74
|
|
|
5.0
|
|
|
$
|
35.26
|
|
Committed, Unpriced
|
|
—
|
|
|
|
|
|
—
|
|
|
|
|
40
|
41
|
Date
|
Total Number Shares Purchased
(1)
|
Average Price Paid per Share
|
Total Number of Shares Purchased as Part of Publicly Announced Plans
(2)
|
Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plan (in thousands)
(3)
|
||||||
July 1 through July 31, 2017
|
39,800
|
|
$
|
75.33
|
|
39,800
|
|
$
|
445,959
|
|
August 1 through August 31, 2017
|
940,833
|
|
$
|
76.15
|
|
940,833
|
|
$
|
374,318
|
|
September 1 through September 30, 2017
|
1,227,500
|
|
$
|
74.99
|
|
1,227,500
|
|
$
|
282,272
|
|
|
|
|
|
|
||||||
Total
|
2,208,133
|
|
$
|
75.49
|
|
2,208,133
|
|
|
42
|
43
|
2.1
|
|
|
2.2
|
|
|
3.1
|
|
|
3.2
|
|
|
4.1
|
|
|
4.2
|
|
|
4.3
|
|
|
10.1
|
|
|
10.2
|
|
|
10.3
|
|
|
10.4
|
|
|
10.5
|
|
|
10.6
|
|
|
10.7
|
|
|
10.8
|
|
|
10.9
|
|
|
10.10
|
|
|
10.11
|
|
|
10.12
|
|
44
|
10.13
|
|
|
10.14
|
|
Coal Lease Agreement dated as of March 31, 1992, among Allegheny Land Company, as lessee, and UAC and Phoenix Coal Corporation, as lessors, and related guarantee (incorporated herein by reference to the Current Report on Form 8-K filed by Ashland Coal, Inc. on April 6, 1992).
|
10.15
|
|
Federal Coal Lease dated as of January 24, 1996 between the U.S. Department of the Interior and the Thunder Basin Coal Company (incorporated herein by reference to Exhibit 10.20 to Arch Coal’s Annual Report on Form 10-K for the year ended December 31, 1998).
|
10.16
|
|
Federal Coal Lease Readjustment dated as of November 1, 1967 between the U.S. Department of the Interior and the Thunder Basin Coal Company (incorporated herein by reference to Exhibit 10.21 to Arch Coal’s Annual Report on Form 10-K for the year ended December 31, 1998).
|
10.17
|
|
Federal Coal Lease effective as of May 1, 1995 between the U.S. Department of the Interior and Mountain Coal Company (incorporated herein by reference to Exhibit 10.22 to Arch Coal’s Annual Report on Form 10-K for the year ended December 31, 1998).
|
10.18
|
|
Federal Coal Lease dated as of January 1, 1999 between the Department of the Interior and Ark Land Company (incorporated herein by reference to Exhibit 10.23 to Arch Coal’s Annual Report on Form 10-K for the year ended December 31, 1998).
|
10.19
|
|
|
10.20
|
|
|
10.21
|
|
|
10.22
|
|
|
10.23
|
|
|
10.24
|
|
|
10.25
|
|
|
10.26
|
|
|
10.27
|
|
|
10.28
|
|
|
10.29
|
|
|
10.30
|
|
|
10.31
|
|
|
10.32
|
|
|
31.1
|
|
|
31.2
|
|
|
32.1
|
|
|
32.2
|
|
|
95
|
|
45
|
101
|
|
Interactive Data File (Form 10-Q for the three and six months ended September 30, 2017 filed in XBRL). The financial information contained in the XBRL-related documents is “unaudited” and “unreviewed.”
|
|
|
|
|
|
|
46
|
|
|
Arch Coal, Inc.
|
|
|
|
|
|
|
|
By:
|
/s/ John T. Drexler
|
|
|
|
John T. Drexler
|
|
|
|
Senior Vice President and Chief Financial Officer (On behalf of the registrant and as Principal Financial Officer)
|
|
|
|
|
|
|
|
October 31, 2017
|
47
|
|
2
|
|
|
3
|
|
|
4
|
|
|
5
|
|
|
Schedule I-1
|
|
Originator
|
Location
|
Arch Coal Sales Company, Inc.
|
Delaware
|
Arch Energy Resources, LLC
|
Delaware
|
Arch Western Resources, LLC
|
Delaware
|
Coal-Mac LLC
|
Kentucky
|
Cumberland River Coal LLC
|
Delaware
|
Lone Mountain Processing LLC
|
Delaware
|
Mingo Logan Coal LLC
|
Delaware
|
Mountain Coal Company, L.L.C.
|
Delaware
|
Thunder Basin Coal Company, L.L.C.
|
Delaware
|
Bronco Mining Company LLC
|
West Virginia
|
CoalQuest Development LLC
|
Delaware
|
Hawthorne Coal Company LLC
|
West Virginia
|
Hunter Ridge Coal LLC
|
Delaware
|
Hunter Ridge Holdings, Inc.
|
Delaware
|
Hunter Ridge LLC
|
Delaware
|
ICG Beckley, LLC
|
Delaware
|
ICG East Kentucky, LLC
|
Delaware
|
ICG Illinois, LLC
|
Delaware
|
Arch Coal Group, LLC
|
Delaware
|
ICG, LLC
|
Delaware
|
ICG Natural Resources, LLC
|
Delaware
|
ICG Tygart Valley, LLC
|
Delaware
|
International Energy Group, LLC
|
Delaware
|
|
Schedule II-
1
|
|
King Knob Coal Co., Inc.
|
West Virginia
|
Marine Coal Sales LLC
|
Delaware
|
Melrose Coal Company LLC
|
West Virginia
|
Patriot Mining Company LLC
|
West Virginia
|
Simba Group LLC
|
Delaware
|
Upshur Property LLC
|
Delaware
|
Vindex Energy LLC
|
West Virginia
|
White Wolf Energy LLC
|
Virginia
|
Wolf Run Mining LLC
|
West Virginia
|
|
Schedule II-
2
|
|
Legal Name
|
Trade Names
|
Arch Coal Sales Company, Inc.
|
|
Arch Energy Resources, LLC
|
|
Arch Western Resources, LLC
|
|
Coal-Mac LLC
|
Phoenix Coal-Mac Mining, LLC
|
Cumberland River Coal LLC
|
Arch of the North Fork
|
Lone Mountain Processing LLC
|
|
Mingo Logan Coal LLC
|
|
Mountain Coal Company, L.L.C.
|
|
Thunder Basin Coal Company, L.L.C.
|
|
Bronco Mining Company LLC
|
|
CoalQuest Development LLC
|
|
Hawthorne Coal Company LLC
|
|
Hunter Ridge Coal LLC
|
|
Hunter Ridge Holdings, Inc.
|
|
Hunter Ridge LLC
|
|
ICG Beckley, LLC
|
ACI Beckley, LLC
ACI Beckley
|
ICG East Kentucky, LLC
|
|
ICG Illinois, LLC
|
ACI Illinois, LLC
|
Arch Coal Group, LLC
|
|
ICG, LLC
|
ICG Coal, LLC
|
ICG Natural Resources, LLC
|
ACI Natural Resources, LLC
ACI Natural Resources
|
ICG Tygart Valley, LLC
|
ACI Tygart Valley, LLC
|
International Energy Group, LLC
|
|
|
Schedule IV-
1
|
|
King Knob Coal Co., Inc
|
|
Marine Coal Sales LLC
|
|
Melrose Coal Company LLC
|
|
Patriot Mining Company LLC
|
|
Simba Group LLC
|
|
Upshur Property LLC
|
|
Vindex Energy LLC
|
|
White Wolf Energy LLC
|
|
Wolf Run Mining LLC
|
|
|
Schedule IV-
2
|
|
ORIGINATORS
|
MINEHEAD
|
STATE
|
COUNTY
|
Arch Coal Sales Company, Inc.
|
N/A
|
|
|
Arch Energy Resources, LLC
|
N/A
|
|
|
Arch Western Resources, LLC
|
N/A
|
|
|
Coal-Mac LLC
|
Holden
Ragland / Phoenix
|
West Virginia
West Virginia |
Logan
Mingo |
Cumberland River Coal LLC
|
Cumberland River (aka Pardee)
Cumberland River (aka Pardee) |
Kentucky
Virginia |
Letcher
Wise |
Lone Mountain Processing LLC
|
Lone Mountain
Lone Mountain |
Kentucky
Virginia |
Harlan
Lee |
Mingo Logan Coal LLC
|
Mountain Laurel
|
West Virginia
|
Logan
|
Mountain Coal Company, L.L.C.
|
West Elk
|
Colorado
|
Gunnison
|
Thunder Basin Coal Company, L.L.C.
|
Black Thunder
Coal Creek
|
Wyoming
Wyoming |
Campbell
Campbell |
Bronco Mining Company LLC
|
N/A
|
|
|
CoalQuest Development LLC
|
N/A
|
|
|
Hawthorne Coal Company LLC
|
N/A
|
|
|
Hunter Ridge Coal LLC
|
N/A
|
|
|
Hunter Ridge Holdings, Inc.
|
N/A
|
|
|
Hunter Ridge LLC
|
N/A
|
|
|
ICG Beckley, LLC
|
Beckley
|
West Virginia
|
Raleigh
|
ICG East Kentucky, LLC
|
East Kentucky
|
Kentucky
|
Pike
|
ICG Illinois, LLC
|
Viper
|
Illinois
|
Sangamon
|
Arch Coal Group, LLC
|
N/A
|
|
|
|
Schedule V-
1
|
|
ORIGINATORS
|
MINEHEAD
|
STATE
|
COUNTY
|
ICG, LLC
|
N/A
|
|
|
ICG Natural Resources, LLC
|
N/A
|
|
|
ICG Tygart Valley, LLC
|
Tygart Valley
|
West Virginia
|
Taylor
|
International Energy Group, LLC
|
N/A
|
|
|
King Knob Coal Co., Inc.
|
N/A
|
|
|
Marine Coal Sales LLC
|
N/A
|
|
|
Melrose Coal Company LLC
|
N/A
|
|
|
Patriot Mining Company LLC
|
Patriot Mining
|
West Virginia
|
Monogalia
|
Simba Group LLC
|
N/A
|
|
|
Upshur Property LLC
|
N/A
|
|
|
Vindex Energy LLC
|
Jackson Mountain Mine
Vindex Energy
Vindex Energy
|
Maryland
Maryland
West Virginia
|
Allegany
Garrett
Grant
|
White Wolf Energy LLC
|
N/A
|
|
|
Wolf Run Mining LLC
|
Buckhannon Harrison
Buckhannon Harrison
Sentinel
|
West Virginia
West Virginia
West Virginia
|
Upshur
Harrison
Barbour
|
|
Schedule V-
2
|
|
Subject Originators
|
Location
|
|
Converted Originators
|
Location
|
Lone Mountain Processing, Inc.
|
Delaware
|
|
Lone Mountain Processing LLC
|
Delaware
|
Cumberland River Coal Company
|
Delaware
|
|
Cumberland River Coal LLC
|
Delaware
|
Coal-Mac, Inc.
|
Kentucky
|
|
Coal-Mac LLC
|
Kentucky
|
Mingo Logan Coal Company
|
Delaware
|
|
Mingo Logan Coal LLC
|
Delaware
|
Simba Group, Inc.
|
Delaware
|
|
Simba Group LLC
|
Delaware
|
Hawthorne Coal Company, Inc.
|
West Virginia
|
|
Hawthorne Coal Company LLC
|
West Virginia
|
Hunter Ridge Coal Company
|
Delaware
|
|
Hunter Ridge Coal LLC
|
Delaware
|
White Wolf Energy, Inc.
|
Virginia
|
|
White Wolf Energy LLC
|
Virginia
|
Bronco Mining Company, Inc.
|
West Virginia
|
|
Bronco Mining Company LLC
|
West Virginia
|
Upshur Property, Inc.
|
Delaware
|
|
Upshur Property LLC
|
Delaware
|
Marine Coal Sales Company
|
Delaware
|
|
Marine Coal Sales LLC
|
Delaware
|
Wolf Run Mining Company
|
West Virginia
|
|
Wolf Run Mining LLC
|
West Virginia
|
Patriot Mining Company, Inc.
|
West Virginia
|
|
Patriot Mining Company LLC
|
West Virginia
|
Melrose Coal Company, Inc.
|
West Virginia
|
|
Melrose Coal Company LLC
|
West Virginia
|
Vindex Energy Corporation
|
West Virginia
|
|
Vindex Energy LLC
|
West Virginia
|
Hunter Ridge, Inc.
|
Delaware
|
|
Hunter Ridge LLC
|
Delaware
|
|
Exhibit A
|
First Amendment to Second A&R PSA
(Arch Coal)
|
|
Exhibit B
|
First Amendment to Second A&R PSA
(Arch Coal)
|
(a)
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
|
(b)
|
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
(c)
|
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
|
(d)
|
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
|
(e)
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
|
(f)
|
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
|
|
/s/ John W. Eaves
|
|
John W. Eaves
|
|
Chief Executive Officer, Director
|
|
Date: October 31, 2017
|
(a)
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
|
(b)
|
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
(c)
|
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
|
(d)
|
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
|
(a)
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
|
(b)
|
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
|
|
/s/ John T. Drexler
|
|
John T. Drexler
|
|
Senior Vice President and Chief Financial Officer
|
|
Date: October 31, 2017
|
|
|
/s/ John W. Eaves
|
|
John W. Eaves
|
|
Chief Executive Officer, Director
|
|
Date: October 31, 2017
|
|
|
/s/ John T. Drexler
|
|
John T. Drexler
|
|
Senior Vice President and Chief Financial Officer
|
|
Date: October 31, 2017
|
|
Vindex Energy / Dobbin Ridge
Prep Plant / 46-07837
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
No
|
No
|
—
|
—
|
—
|
*
Cumberland River Pardee Plant /
44‑05014
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
No
|
No
|
—
|
—
|
—
|
*
Cumberland River
Band Mill Mine / 44‑06816
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
No
|
No
|
—
|
—
|
—
|
*
Cumberland River Pine Branch #1 /
44‑07224
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
No
|
No
|
—
|
—
|
—
|
*
Cumberland River Trace Fork #1 /
15‑19533
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
No
|
No
|
—
|
—
|
—
|
Beckley Pocahontas Mine /
46‑05252
|
33
|
—
|
2
|
—
|
—
|
71.2
|
—
|
No
|
No
|
1
|
5
|
4
|
Beckley Pocahontas Plant /
46‑09216
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
No
|
No
|
—
|
—
|
—
|
Coal Mac Holden #22 Prep Plant /
46‑05909
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
No
|
No
|
—
|
—
|
—
|
Coal Mac Ragland Loadout /
46‑08563
|
—
|
—
|
—
|
—
|
0.1
|
—
|
—
|
No
|
No
|
—
|
—
|
—
|
Coal Mac Holden #22 Surface /
46‑08984
|
1
|
—
|
—
|
—
|
—
|
0.1
|
—
|
No
|
No
|
—
|
—
|
—
|
Eastern Birch River Mine /
46-07945
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
No
|
No
|
—
|
—
|
—
|
Sentinel Mine /
46‑04168
|
13
|
—
|
—
|
—
|
—
|
14.4
|
—
|
No
|
No
|
—
|
1
|
—
|
Sentinel Prep Plant /
46‑08777
|
—
|
—
|
—
|
—
|
—
|
0.3
|
—
|
No
|
No
|
—
|
—
|
—
|
Mingo Logan Mountaineer II /
46‑09029
|
20
|
—
|
—
|
—
|
-—
|
25.2
|
—
|
No
|
No
|
2
|
6
|
3
|
Mingo Logan Cardinal Prep Plant /
46‑09046
|
1
|
—
|
—
|
—
|
—
|
—
|
—
|
No
|
No
|
—
|
—
|
—
|
Mingo Logan Daniel Hollow /
46‑09047
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
No
|
No
|
—
|
—
|
—
|
Leer #1 Mine /
46‑09192
|
26
|
—
|
—
|
—
|
—
|
23.7
|
—
|
No
|
No
|
—
|
3
|
4
|
Arch of Wyoming Elk Mountain /
48‑01694
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
No
|
No
|
—
|
—
|
—
|
Black Thunder /
48‑00977
|
2
|
—
|
—
|
—
|
—
|
4.1
|
—
|
No
|
No
|
—
|
—
|
—
|
Coal Creek /
48‑01215
|
1
|
—
|
—
|
—
|
—
|
1.4
|
—
|
No
|
No
|
—
|
—
|
—
|
West Elk Mine /
05‑03672
|
3
|
—
|
—
|
—
|
—
|
13.2
|
—
|
No
|
No
|
—
|
—
|
—
|
Viper Mine /
11‑02664
|
3
|
—
|
—
|
—
|
—
|
12.8
|
—
|
No
|
No
|
—
|
—
|
—
|
Leer #1 Prep Plant /
46-09191
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
No
|
No
|
—
|
—
|
—
|
Wolf Run Mining – Sawmill Run
Prep Plant / 46-05544
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
No
|
No
|
—
|
—
|
—
|
Wolf Run Mining / Imperial /
46-09115
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
No
|
No
|
—
|
—
|
—
|
Wolf Run Mining / Upshur /
46-05823
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
No
|
No
|
—
|
—
|
—
|
(1)
|
See table below for additional details regarding Legal Actions Pending as of September 30, 2017.
|