Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2020

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

The following table presents the details of the Cumberland Transaction:

	Year Ended December 31, 2020
Cash	$	19,987
Surety bonding collateral	30,000
Total consideration	49,987
Transaction costs	2,205
Carrying value of assets and liabilities (1)	$	(16,079)
Loss on sale	$	36,113

(1) Assets and liabilities were primarily comprised of property, plant and equipment, net of $32,872, deferred longwall move expenses of $15,173, and coal and supplies inventory of $5,112 and asset retirement obligations of $39,573, severance of $17,143, black lung obligations of $8,290, and subsidence liability of $3,559.

The following table presents the details of the ESM Transaction:

	Year Ended December 31, 2019
Cash	$	90,000
DIP obligation (1)	3,008
Other	331
Total consideration	$	93,339
ARO liabilities transferred	(152,882)
Gain on sale (2)	$	(59,543)

(1) The Company paid certain Blackjewel debtor-in-possession lenders $3,008 of principal and interest pursuant to an existing agreement between the Company and those lenders.

(2) The Company recorded a $59,543 gain within depreciation, depletion, and amortization within discontinued operations in the Consolidated Statements of Operations during the year ended December 31, 2019 as a result of the reduction of the reclamation obligation partially offset by the consideration paid.

The major components of net loss from discontinued operations before income taxes in the Consolidated Statements of Operations are as follows:

	Year Ended December 31,
	2020 (1)		2019
Revenues:
Total revenues	$	235,509	$	289,206
Costs and expenses:
Cost of coal sales (exclusive of items shown separately below)	215,390		256,336
Depreciation, depletion and amortization (2)	11,570		99,405
Accretion on asset retirement obligations (3)	4,154		9,894
Asset impairment and restructuring (4)	172,640		17,161
Selling, general and administrative expenses (5)	1,623		4,349
Other (income) expenses	(926)		4,742
Other non-major expense items, net	374		2,504
Loss on sale	36,113		—
Loss from discontinued operations before income taxes	$	(205,429)	$	(105,185)

(1) For the year ended December 31, 2020, discontinued operations consisted entirely of activity related to the former NAPP operations.

(2) During the year ended December 31, 2019, depreciation, depletion and amortization includes $145,913 related to an increase in the Company’s estimate of its PRB asset retirement obligations which was partially offset by ($59,543) as a result of the ESM transaction. Refer to the disclosures above for details.

(3) For the year ended December 31, 2019, the former PRB operations’ accretion on asset retirement obligations of $5,961 related to the asset retirement obligations recorded as a result of the Blackjewel bankruptcy filing. Refer to the disclosures above for details.

(4) Refer to Note 8.

(5) Represents professional and legal fees.

The major components of assets and liabilities that are classified as discontinued operations in the Consolidated Balance Sheets are as follows:

	December 31,
	2020		2019
Assets:
Trade accounts receivable, net of allowance for doubtful accounts	$	7,504	$	20,493
Inventory, net	$	—	$	11,771
Prepaid expenses and other current assets	$	3,431	$	13,628
Property, plant, and equipment, net of accumulated depreciation and amortization	$	—	$	146,864
Other non-current assets	$	9,473	$	15,760
Liabilities:
Trade accounts payable, accrued expenses and other current liabilities	$	7,433	$	24,769
Asset retirement obligations	$	—	$	21,568
Workers’ compensation and black lung obligations	$	32,672	$	36,149
Other non-current liabilities	$	1,291	$	4,593

The major components of cash flows related to discontinued operations were as follows:

	Year Ended December 31,
	2020		2019
Depreciation, depletion and amortization	$	11,570	$	99,405
Capital expenditures	$	34,411	$	31,964
Other significant operating non-cash items related to discontinued operations:
Accretion on asset retirement obligations	$	4,154	$	9,894
Asset impairment and restructuring	$	172,640	$	17,161