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Segment Information
 9 Months Ended
Sep. 30, 2022
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company extracts, processes and markets met and thermal coal from deep and surface mines for sale to steel and coke producers, industrial customers, and electric utilities. The Company conducts mining operations only in the United States with mines in Central Appalachia (“CAPP”). The Company has one reportable segment: Met, which consists of six active mines and two preparation plants in Virginia, sixteen active mines and five preparation plants in West Virginia, as well as expenses associated with certain idled/closed mines.

In addition to the one reportable segment, the All Other category includes general corporate overhead and corporate assets and liabilities, the former CAPP - Thermal operations consisting of one active mine and one preparation plant in West Virginia, and the elimination of certain intercompany activity, as well as expenses associated with certain idled/closed mines.

Reportable segment operating results are regularly reviewed by the Chief Operating Decision Maker (“CODM”), who is the Chief Executive Officer of the Company.

Segment operating results and capital expenditures for the three months ended September 30, 2022 and 2021 were as follows: 
Three Months Ended September 30, 2022
MetAll OtherConsolidated
Total revenues$841,958 $27,810 $869,768 
Depreciation, depletion, and amortization$26,747 $1,178 $27,925 
Amortization of acquired intangibles, net$3,591 $952 $4,543 
Adjusted EBITDA$301,556 $(6,697)$294,859 
Capital expenditures$32,623 $716 $33,339 
 
Three Months Ended September 30, 2021
MetAll OtherConsolidated
Total revenues$626,103 $22,738 $648,841 
Depreciation, depletion, and amortization$23,181 $1,338 $24,519 
Amortization of acquired intangibles, net$3,063 $(83)$2,980 
Adjusted EBITDA$155,456 $(7,233)$148,223 
Capital expenditures$21,882 $465 $22,347 

Segment operating results and capital expenditures for the nine months ended September 30, 2022 and 2021 were as follows:
Nine Months Ended September 30, 2022
MetAll OtherConsolidated
Total revenues$3,217,588 $60,556 $3,278,144 
Depreciation, depletion, and amortization$81,010 $2,680 $83,690 
Amortization of acquired intangibles, net$13,182 $2,856 $16,038 
Adjusted EBITDA$1,521,089 $(27,895)$1,493,194 
Capital expenditures$99,979 $3,372 $103,351 
Nine Months Ended September 30, 2021
MetAll OtherConsolidated
Total revenues$1,363,918 $66,451 $1,430,369 
Depreciation, depletion, and amortization$75,403 $4,858 $80,261 
Amortization of acquired intangibles, net$9,749 $(347)$9,402 
Adjusted EBITDA$234,824 $(17,801)$217,023 
Capital expenditures$59,408 $978 $60,386 

The following tables present a reconciliation of net income (loss) to Adjusted EBITDA for the three months ended September 30, 2022 and 2021:
Three Months Ended September 30, 2022
MetAll OtherConsolidated
Net income (loss) from continuing operations$268,157 $(16,321)$251,836 
Interest expense40 1,655 1,695 
Interest income(369)(695)(1,064)
Income tax expense— 5,437 5,437 
Depreciation, depletion and amortization26,747 1,178 27,925 
Non-cash stock compensation expense— 1,520 1,520 
Mark-to-market adjustment - acquisition-related obligations— (2,954)(2,954)
Accretion on asset retirement obligations3,390 2,531 5,921 
Amortization of acquired intangibles, net3,591 952 4,543 
Adjusted EBITDA $301,556 $(6,697)$294,859 
Three Months Ended September 30, 2021
MetAll OtherConsolidated
Net income (loss) from continuing operations$125,750 $(42,057)$83,693 
Interest expense49 17,289 17,338 
Interest income(1)(53)(54)
Income tax expense — 208 208 
Depreciation, depletion and amortization23,181 1,338 24,519 
Non-cash stock compensation expense6 1,183 1,189 
Mark-to-market adjustment - acquisition-related obligations— 11,676 11,676 
Accretion on asset retirement obligations3,408 3,266 6,674 
Amortization of acquired intangibles, net3,063 (83)2,980 
Adjusted EBITDA $155,456 $(7,233)$148,223 

The following tables present a reconciliation of net income (loss) to Adjusted EBITDA for the nine months ended September 30, 2022 and 2021:

Nine Months Ended September 30, 2022
MetAll OtherConsolidated
Net income (loss) from continuing operations$1,417,125 $(188,856)$1,228,269 
Interest expense132 19,864 19,996 
Interest income(541)(871)(1,412)
Income tax expense— 114,073 114,073 
Depreciation, depletion and amortization81,010 2,680 83,690 
Non-cash stock compensation expense3 4,100 4,103 
Mark-to-market adjustment - acquisition-related obligations— 10,615 10,615 
Accretion on asset retirement obligations10,178 7,644 17,822 
Amortization of acquired intangibles, net13,182 2,856 16,038 
Adjusted EBITDA$1,521,089 $(27,895)$1,493,194 

Nine Months Ended September 30, 2021
MetAll OtherConsolidated
Net income (loss) from continuing operations$139,354 $(106,942)$32,412 
Interest expense132 53,158 53,290 
Interest income(6)(316)(322)
Income tax expense— 211 211 
Depreciation, depletion and amortization75,403 4,858 80,261 
Non-cash stock compensation expense22 4,329 4,351 
Mark-to-market adjustment - acquisition-related obligations— 18,009 18,009 
Accretion on asset retirement obligations10,170 9,800 19,970 
Asset impairment and restructuring
— (561)(561)
Amortization of acquired intangibles, net9,749 (347)9,402 
Adjusted EBITDA $234,824 $(17,801)$217,023 

No asset information has been disclosed as the CODM does not regularly review asset information by reportable segment.
The Company markets produced, processed and purchased coal to customers in the United States and in international markets. Revenue is tracked within the Company’s accounting records based on the product destination. The following tables present additional information on our revenues and top customers:
Three Months Ended September 30, Nine Months Ended September 30,
 2022202120222021
Total coal revenues$867,849 $647,129 $3,271,845 $1,426,039 
Export coal revenues$641,345 $516,877 $2,681,873 $1,016,677 
Export coal revenues as % of total coal revenues74 %80 %82 %71 %
Countries with export coal revenue exceeding 10% of total revenueIndiaChina, IndiaIndiaChina, India, Brazil
Top customer as % of total revenue18 %28 %28 %15 %
Top 10 customers as % of total revenue65 %72 %70 %68 %
Number of customers exceeding 10% of total revenue1212
As of September 30,
 20222021
Number of customers exceeding 10% of total trade accounts receivable, net22