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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net income $ 74,751 $ 14,085
Adjustments to reconcile net income to net cash from operating activities:    
Accretion of asset retirement obligations 990 305
Depreciation and amortization 18,463 12,110
Amortization of debt issuance costs 243 29
Stock-based compensation 4,173 2,577
Other income - gain on sale of mineral rights (2,113)  
Other income - employee retention tax credit   (5,316)
Deferred income taxes 6,448 62
Changes in operating assets and liabilities:    
Accounts receivable (8,293) 6,417
Prepaid expenses and other current assets 1,472 4,724
Inventories (16,597) (7,628)
Other assets and liabilities 1,263 (258)
Accounts payable 10,060 4,562
Accrued expenses 18,441 1,253
Net cash from operating activities 109,301 32,922
Cash flow from investing activities:    
Capital expenditures (53,807) (8,551)
Acquisition of Ramaco Coal assets (11,738)  
Proceeds from sale of mineral rights 2,000  
Net cash from investing activities (63,545) (8,551)
Cash flows from financing activities:    
Proceeds from borrowings 1,337 14,100
Payment of dividends (9,996)  
Repayment of borrowings (9,407) (23,523)
Repayments of financed insurance payable (210) (751)
Repayments of financing leased equipment (2,718) (409)
Restricted stock surrendered for withholding taxes payable (2,821) (327)
Net cash from financing activities (23,815) (10,910)
Net change in cash and cash equivalents and restricted cash 21,941 13,461
Cash and cash equivalents and restricted cash, beginning of period 22,806 6,710
Cash and cash equivalents and restricted cash, end of period 44,747 20,171
Supplemental cash flow information:    
Cash paid for interest 2,640 419
Cash paid for taxes 13,000  
Non-cash investing and financing activities:    
Leased assets obtained under new financing leases 3,624 5,741
Capital expenditures included in accounts payable and accrued expenses 15,609 1,771
Ramaco Coal acquisition 56,551  
Additional asset retirement obligations incurred $ 1,708 $ 145