Business Segments

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Business Segments

Business Segments

The Company’s operating segments are: (i) Coal Mining, (ii) NAMining and (iii) Minerals Management. 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 Chief Operating Decision Maker utilizes operating profit to evaluate segment performance and allocate resources.

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-K on a consolidated basis.

See Note 1 for additional discussion of the Company's reportable segments. All current operations reside in the U.S. The accounting policies of the reportable segments are described in Note 2 and Note 18.

In 2023 and 2022, two customers individually accounted for more than 10% of consolidated revenue. The following represents the revenue attributable to each of these entities as a percentage of consolidated revenue for those years:

	Percentage of Consolidated Revenue
Segment	2023		2022
Coal Mining customer	40	%	39	%
NAMining customer	22	%	17	%

The following tables present revenue, operating profit, depreciation expense and capital expenditures for the years ended December 31:

	2023		2022
Revenues
Coal Mining	$	85,415	$	95,204
NAMining	90,532		85,664
Minerals Management	32,985		60,242
Unallocated Items	8,459		2,952
Eliminations	(2,597)		(2,343)
Total	$	214,794	$	241,719
Operating (loss) profit
Coal Mining	$	(71,342)	$	38,309
NAMining	3,348		2,202
Minerals Management	19,418		52,214
Unallocated Items	(21,461)		(23,233)
Eliminations	(100)		494
Total	$	(70,137)	$	69,986

Expenditures for property, plant and equipment and acquisition of mineral interests
Coal Mining	$	6,609	$	14,853
NAMining	36,073		13,203
Minerals Management	38,881		13,388
Unallocated Items	559		13,003
Total	$	82,122	$	54,447
Depreciation, depletion and amortization
Coal Mining	$	17,569	$	17,074
NAMining	8,172		6,457
Minerals Management	3,067		3,026
Unallocated Items	579		259
Total	$	29,387	$	26,816

Asset information by segment is not discretely maintained for internal reporting or used in evaluating performance.