We are the world’s largest private-sector coal company by volume. As of December 31, 2018, we own interests in 23 coal mining operations located in the United States (U.S.) and Australia. We have a majority interest in 22 of those mining operations and a 50% equity interest in Middlemount Coal Pty Ltd. (Middlemount), which owns the Middlemount Mine in Queensland, Australia. In addition to our mining operations, we market and broker coal from other coal producers, both as principal and agent, and trade coal and freight-related contracts through trading and business offices in the U.S., Australia, China, and the United Kingdom. In 2018, we achieved a global safety incidence rate of 1.45 incidents per 200,000 hours worked, which was 54% better than the 2017 industry average incidence rate of 3.18 incidents per 200,000 hours worked per the Mine Safety and Health Administration (MSHA). We were also recognized by the U.S. National Mining Association as the first in the industry to achieve independent certification under the CORESafety® system. On December 3, 2018, we acquired the Shoal Creek metallurgical coal mine, preparation plant and supporting assets located in Alabama (Shoal Creek Mine) as further discussed in Note 3. “Acquisition of Shoal Creek Mine” to the accompanying consolidated financial statements. Our results of operations include the Shoal Creek Mine’s results of operations from December 4, 2018 through December 31, 2018. The Shoal Creek Mine’s results are reflected in our Seaborne Metallurgical Mining segment.
Also included in the following discussion of our results of operations are references to Revenues per Ton, Costs per Ton and Adjusted EBITDA Margin per Ton for each mining segment. These metrics are used by management to measure each of our mining segments’ operating performance. Management believes Costs per Ton and Adjusted EBITDA Margin per Ton best reflect controllable costs and operating results at the mining segment level. We consider all measures reported on a per ton basis to be operating/statistical measures; however, we include reconciliations of the related non-GAAP financial measures (Adjusted EBITDA and Total Reporting Segment Costs) in the “Reconciliation of Non-GAAP Financial Measures” section contained within this Item 2.