Revenue Recognition

6 Months Ended

Jun. 30, 2020

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		Other and
	PRB		MET		Thermal		Eliminations		Consolidated
	(in thousands)
Three Months Ended June 30, 2020
North America revenues	$	133,096	$	40,137	$	31,149	$	6,177	$	210,559
Seaborne revenues		—		98,814		10,148		—		108,962
Total revenues	$	133,096	$	138,951	$	41,297	$	6,177	$	319,521
Three Months Ended June 30, 2019
North America revenues	$	210,149	$	54,896	$	47,885	$	623	$	313,553
Seaborne revenues		—		206,349		50,320		—		256,669
Total revenues	$	210,149	$	261,245	$	98,205	$	623	$	570,222
Six Months Ended June 30, 2020
North America revenues	$	311,375	$	69,860	$	59,733	$	18,559	$	459,527
Seaborne revenues		181		251,745		13,300		—		265,226
Total revenues	$	311,556	$	321,605	$	73,033	$	18,559	$	724,753
Six Months Ended June 30, 2019
North America revenues	$	422,878	$	99,562	$	94,414	$	3,837	$	620,691
Seaborne revenues		—		414,945		89,769		—		504,714
Total revenues	$	422,878	$	514,507	$	184,183	$	3,837	$	1,125,405

As of June 30, 2020, the Company has outstanding performance obligations for the remainder of 2020 of 36.2 million tons of fixed price contracts and 2.5 million tons of variable price contracts. Additionally, the Company has outstanding performance obligations beyond 2020 of approximately 69.0 million tons of fixed price contracts and 4.5 million tons of variable price contracts.