Business Segments

In the first quarter of 2019, the Company changed its reportable segments to reflect changes in the business, including growth at NAMining and Minerals Management. The Company modified its internal reporting structure to reflect a change in how its Chief Operating Decision Maker (“CODM”) assesses Company performance and makes decisions about resource allocations. As of January 1, 2019, the Company’s operating segments are: (i) Coal Mining, (ii) NAMining and (iii) Minerals Management. While the Company continues to pursue opportunities to add new coal mining operations to the Coal Mining segment, the NAMining segment will serve as a platform for pursuing non-coal mining projects and the Minerals Management segment will work to capitalize on the Company’s oil, gas and coal reserves. In response to these changes, the Company determined the historical structure of reporting one operating segment was no longer representative of the way the business is managed. As a result, the Company effected a change in the reporting of its segment information.

The Company determines its reportable segments by first identifying its operating segments, and then by assessing whether any components of these segments constitute a business for which discrete financial information is available and where segment management regularly reviews the operating results of that component. The Company’s CODM utilizes operating profit to evaluate segment performance and allocate resources. Operating profit for each segment includes an allocation of shared costs based on a reasonable measure of utilization.

The Company also has unallocated items not directly attributable to a reportable segment which are not included as part of the measurement of segment operating profit, primarily administrative costs related to public company reporting requirements, the financial results of the Company’s mitigation banking business, Mitigation Resources of North America^® (“MRNA”), and Bellaire. MRNA generates and sells stream and wetland mitigation credits (known as mitigation banking) and provides services to those engaged in permittee-responsible stream and wetland mitigation. Bellaire manages the Company’s long-term liabilities related to former Eastern U.S. underground mining activities. Transactions between segments are accounted for as third-party arrangements for purposes of presenting segment results of operations and are eliminated in consolidation.

All financial statement line items below operating profit (other income including interest expense and interest income, the provision for income taxes and net income) are presented and discussed within this Form 10-Q on a consolidated basis. Included within other income on the line Income from other unconsolidated affiliates within the Unaudited Condensed Consolidated Statements of Operations is the financial results of NoDak Energy Services, LLC ("NoDak"). NoDak operates and maintains a coal drying system at a customer’s power plant. The NoDak contract expires in the first quarter of 2020.

See Note 1 for additional discussion of the Company's reportable segments. The following tables present revenue, operating profit, depreciation expense and capital expenditures:



	THREE MONTHS ENDED						NINE MONTHS ENDED
	SEPTEMBER 30						SEPTEMBER 30
	2019			2018			2019			2018
Revenues
Coal Mining	$	18,799		$	18,583		$	58,119		$	57,040
NAMining	8,993			9,092			30,496			28,372
Minerals Management	5,022			3,902			25,950			11,244
Unallocated Items	52			—			726			—
Eliminations	(263		)	(137		)	(1,239		)	(335		)
Total	$	32,603		$	31,440		$	114,052		$	96,321

Operating profit (loss)
Coal Mining	$	7,341		$	9,814		$	19,639		$	26,409
NAMining	(391		)	281			(842		)	1,072
Minerals Management	3,900			2,770			22,358			8,926
Unallocated Items	(2,286		)	(2,318		)	(7,115		)	(8,337		)
Eliminations	99			—			157			—
Total	$	8,663		$	10,547		$	34,197		$	28,070



Expenditures for property, plant and equipment
Coal Mining	$	2,291	$	2,162	$	6,542	$	6,588
NAMining	4,971		3,122		6,213		6,353
Minerals Management	—		—		291		1,182
Unallocated Items	35		166		218		509
Total	$	7,297	$	5,450	$	13,264	$	14,632

Depreciation, depletion and amortization
Coal Mining	$	3,102	$	3,097	$	9,252	$	9,030
NAMining	588		441		1,699		1,263
Minerals Management	324		250		1,057		562
Unallocated Items	30		27		87		80
Total	$	4,044	$	3,815	$	12,095	$	10,935