Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2023 | Oct. 31, 2023 | |
Document and Entity Information [Abstract] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Sep. 30, 2023 | |
Entity File Number | 1-16247 | |
Entity Registrant Name | Coronado Global Resources Inc. | |
Entity Incorporation State Country Code | DE | |
Entity Tax Identification Number | 83-1780608 | |
Entity Address Line1 | Level 33, Central Plaza One | |
Entity Address Line 2 | 345 Queen Street | |
Entity Address City Or Town | Brisbane, Queensland | |
Entity Address Country | AU | |
Entity Address Postal Zip Code | 4000 | |
Country Region | 61 | |
City Area Code | 7 | |
Local Phone Number | 3031 7777 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 167,645,373 | |
Entity Central Index Key | 0001770561 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2023 | |
Document Fiscal Period Focus | Q3 | |
Current Fiscal Year End Date | --12-31 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Current assets: | ||
Cash and restricted cash | $ 337,097 | $ 334,629 |
Trade receivables, net | 262,601 | 409,979 |
Income tax receivable | 10,409 | 0 |
Inventories | 207,272 | 158,018 |
Other current assets | 118,422 | 60,188 |
Assets held for sale | 0 | 26,214 |
Total current assets | 935,801 | 989,028 |
Non-current assets: | ||
Property, plant and equipment, net | 1,426,769 | 1,389,548 |
Right of use asset - operating leases, net | 48,479 | 17,385 |
Goodwill | 28,008 | 28,008 |
Intangible assets, net | 3,159 | 3,311 |
Restricted deposits | 67,942 | 89,062 |
Deferred income tax assets | 1,567 | 0 |
Other non-current assets | 21,291 | 33,585 |
Total assets | 2,533,016 | 2,549,927 |
Current liabilities: | ||
Accounts payable | 84,863 | 61,780 |
Accrued expenses and other current liabilities | 257,461 | 343,691 |
Income tax payable | 0 | 119,981 |
Asset retirement obligations | 15,549 | 10,646 |
Contract obligations | 38,495 | 40,343 |
Lease liabilities | 16,580 | 7,720 |
Other current financial liabilities | 3,944 | 4,458 |
Liabilities held for sale | 0 | 12,241 |
Total current liabilities | 416,892 | 600,860 |
Non-current liabilities: | ||
Asset retirement obligations | 138,279 | 127,844 |
Contract obligations | 67,924 | 94,525 |
Deferred consideration liability | 254,001 | 243,191 |
Interest bearing liabilities | 234,718 | 232,953 |
Other financial liabilities | 5,748 | 8,268 |
Lease liabilities | 35,248 | 15,573 |
Deferred income tax liabilities | 109,444 | 95,671 |
Other non-current liabilities | 35,332 | 27,952 |
Total liabilities | 1,297,586 | 1,446,837 |
Common stock $0.01 par value; 1,000,000,000 shares authorized,167,645,373 shares issued and outstanding as of September 30, 2023 and December 31, 2022 | 1,677 | 1,677 |
Series A Preferred stock $0.01 par value; 100,000,000 shares authorized, 1 Share issued and outstanding as of September 30, 2023 and December 31, 2022 | ||
Additional paid-in capital | 1,093,845 | 1,092,282 |
Accumulated other comprehensive losses | (121,970) | (91,423) |
Retained earnings | 261,878 | 100,554 |
Total stockholders' equity | 1,235,430 | 1,103,090 |
Total liabilities and stockholders' equity | $ 2,533,016 | $ 2,549,927 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares | Sep. 30, 2023 | Dec. 31, 2022 |
Condensed Consolidated Balance Sheets [Abstract] | ||
Common stock, par value per share (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 1,000,000,000 | 1,000,000,000 |
Common stock, shares issued (in shares) | 167,645,373 | 167,645,373 |
Common stock, shares outstanding (in shares) | 167,645,373 | 167,645,373 |
Preferred stock, par value per share (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized (in shares) | 100,000,000 | 100,000,000 |
Preferred stock, shares issued (in shares) | 1 | 1 |
Preferred stock, shares outstanding (in shares) | 1 | 1 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations and Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Revenues: | ||||
Coal revenues | $ 707,303 | $ 863,709 | $ 2,163,093 | $ 2,821,334 |
Other revenues | 10,527 | 10,948 | 47,977 | 33,152 |
Total revenues | 717,830 | 874,657 | 2,211,070 | 2,854,486 |
Costs and expenses: | ||||
Cost of coal revenues (exclusive of items shown separately below) | 501,471 | 385,504 | 1,262,907 | 1,140,467 |
Depreciation, depletion and amortization | 34,749 | 37,508 | 113,052 | 126,901 |
Freight expenses | 71,746 | 63,026 | 192,542 | 189,316 |
Stanwell rebate | 37,100 | 54,575 | 105,357 | 124,160 |
Other royalties | 92,700 | 137,331 | 268,606 | 299,711 |
Selling, general, and administrative expenses | 12,221 | 10,405 | 29,976 | 28,657 |
Total costs and expenses | 749,987 | 688,349 | 1,972,440 | 1,909,212 |
Other (expense) income: | ||||
Interest expense, net | (14,496) | (17,220) | (43,341) | (52,034) |
Loss on debt extinguishment | (1,385) | 0 | (1,385) | 0 |
Decrease (increase) in provision for discounting and credit losses | 536 | 12 | 4,255 | (572) |
Other, net | 8,189 | 32,898 | 17,704 | 55,191 |
Total other (expense) income, net | (7,156) | 15,690 | (22,767) | 2,585 |
(Loss) income before tax | (39,313) | 201,998 | 215,863 | 947,859 |
Income tax benefit (expense) | 18,230 | (51,423) | (37,775) | (235,391) |
Net (loss) income attributable to Coronado Global Resources Inc. | (21,083) | 150,575 | 178,088 | 712,468 |
Other comprehensive loss, net of income taxes: | ||||
Foreign currency translation adjustments | (18,247) | (41,998) | (30,547) | (75,908) |
Total other comprehensive loss | (18,247) | (41,998) | (30,547) | (75,908) |
Total comprehensive (loss) income attributable to Coronado Global Resources Inc. | $ (39,330) | $ 108,577 | $ 147,541 | $ 636,560 |
(Loss) earnings per share of common stock | ||||
Basic | $ (0.13) | $ 0.90 | $ 1.06 | $ 4.25 |
Diluted | $ (0.13) | $ 0.90 | $ 1.06 | $ 4.25 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands | Total | Common Stock [Member] | Preferred Stock [Member] | Additional Paid in Capital [Member] | Accumulated Other Comprehensive Losses [Member] | Retained earnings [Member] |
Balance, beginning of period at Dec. 31, 2021 | $ 1,077,502 | $ 1,677 | $ 0 | $ 1,089,547 | $ (44,228) | $ 30,506 |
Balance, beginning of period, shares at Dec. 31, 2021 | 167,645,373 | 1 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net (loss) income | 269,898 | $ 0 | $ 0 | 0 | 0 | 269,898 |
Other comprehensive income | 16,258 | 0 | 0 | 0 | 16,258 | 0 |
Total comprehensive income (loss) | 286,156 | 0 | 0 | 0 | 16,258 | 269,898 |
Share-based compensation for equity classified awards | 84 | 0 | 0 | 84 | 0 | 0 |
Dividends | (150,881) | $ 0 | $ 0 | 0 | 0 | (150,881) |
Balance, end of period, shares at Mar. 31, 2022 | 167,645,373 | 1 | ||||
Balance, end of period at Mar. 31, 2022 | 1,212,861 | $ 1,677 | $ 0 | 1,089,631 | (27,970) | 149,523 |
Balance, beginning of period at Dec. 31, 2021 | 1,077,502 | $ 1,677 | $ 0 | 1,089,547 | (44,228) | 30,506 |
Balance, beginning of period, shares at Dec. 31, 2021 | 167,645,373 | 1 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net (loss) income | 712,468 | |||||
Other comprehensive income | (75,908) | |||||
Balance, end of period, shares at Sep. 30, 2022 | 167,645,373 | 1 | ||||
Balance, end of period at Sep. 30, 2022 | 1,239,511 | $ 1,677 | $ 0 | 1,091,651 | (120,136) | 266,319 |
Balance, beginning of period at Mar. 31, 2022 | 1,212,861 | $ 1,677 | $ 0 | 1,089,631 | (27,970) | 149,523 |
Balance, beginning of period, shares at Mar. 31, 2022 | 167,645,373 | 1 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net (loss) income | 291,995 | $ 0 | $ 0 | 0 | 0 | 291,995 |
Other comprehensive income | (50,168) | 0 | 0 | 0 | (50,168) | 0 |
Total comprehensive income (loss) | 241,827 | 0 | 0 | 0 | (50,168) | 291,995 |
Share-based compensation for equity classified awards | 1,731 | 0 | 0 | 1,731 | 0 | 0 |
Dividends | (200,040) | $ 0 | $ 0 | 0 | 0 | (200,040) |
Balance, end of period, shares at Jun. 30, 2022 | 167,645,373 | 1 | ||||
Balance, end of period at Jun. 30, 2022 | 1,256,379 | $ 1,677 | $ 0 | 1,091,362 | (78,138) | 241,478 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net (loss) income | 150,575 | 0 | 0 | 0 | 0 | 150,575 |
Other comprehensive income | (41,998) | 0 | 0 | 0 | (41,998) | 0 |
Total comprehensive income (loss) | 108,577 | 0 | 0 | 0 | (41,998) | 150,575 |
Share-based compensation for equity classified awards | 289 | 0 | 0 | 289 | 0 | 0 |
Dividends | (125,734) | $ 0 | $ 0 | 0 | 0 | (125,734) |
Balance, end of period, shares at Sep. 30, 2022 | 167,645,373 | 1 | ||||
Balance, end of period at Sep. 30, 2022 | 1,239,511 | $ 1,677 | $ 0 | 1,091,651 | (120,136) | 266,319 |
Balance, beginning of period at Dec. 31, 2022 | 1,103,090 | $ 1,677 | $ 0 | 1,092,282 | (91,423) | 100,554 |
Balance, beginning of period, shares at Dec. 31, 2022 | 167,645,373 | 1 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net (loss) income | 107,860 | $ 0 | $ 0 | 0 | 0 | 107,860 |
Other comprehensive income | (4,503) | 0 | 0 | 0 | (4,503) | 0 |
Total comprehensive income (loss) | 103,357 | 0 | 0 | 0 | (4,503) | 107,860 |
Share-based compensation for equity classified awards | (308) | 0 | 0 | (308) | 0 | 0 |
Dividends | (8,382) | $ 0 | $ 0 | 0 | 0 | (8,382) |
Balance, end of period, shares at Mar. 31, 2023 | 167,645,373 | 1 | ||||
Balance, end of period at Mar. 31, 2023 | 1,197,757 | $ 1,677 | $ 0 | 1,091,974 | (95,926) | 200,032 |
Balance, beginning of period at Dec. 31, 2022 | 1,103,090 | $ 1,677 | $ 0 | 1,092,282 | (91,423) | 100,554 |
Balance, beginning of period, shares at Dec. 31, 2022 | 167,645,373 | 1 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net (loss) income | 178,088 | |||||
Other comprehensive income | (30,547) | |||||
Balance, end of period, shares at Sep. 30, 2023 | 167,645,373 | 1 | ||||
Balance, end of period at Sep. 30, 2023 | 1,235,430 | $ 1,677 | $ 0 | 1,093,845 | (121,970) | 261,878 |
Balance, beginning of period at Mar. 31, 2023 | 1,197,757 | $ 1,677 | $ 0 | 1,091,974 | (95,926) | 200,032 |
Balance, beginning of period, shares at Mar. 31, 2023 | 167,645,373 | 1 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net (loss) income | 91,311 | $ 0 | $ 0 | 0 | 0 | 91,311 |
Other comprehensive income | (7,797) | 0 | 0 | 0 | (7,797) | 0 |
Total comprehensive income (loss) | 83,514 | 0 | 0 | 0 | (7,797) | 91,311 |
Share-based compensation for equity classified awards | 1,289 | $ 0 | $ 0 | 1,289 | 0 | 0 |
Balance, end of period, shares at Jun. 30, 2023 | 167,645,373 | 1 | ||||
Balance, end of period at Jun. 30, 2023 | 1,282,560 | $ 1,677 | $ 0 | 1,093,263 | (103,723) | 291,343 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net (loss) income | (21,083) | 0 | 0 | 0 | 0 | (21,083) |
Other comprehensive income | (18,247) | 0 | 0 | 0 | (18,247) | 0 |
Total comprehensive income (loss) | (39,330) | 0 | 0 | 0 | (18,247) | (21,083) |
Share-based compensation for equity classified awards | 582 | 0 | 0 | 582 | 0 | 0 |
Dividends | (8,382) | $ 0 | $ 0 | 0 | 0 | (8,382) |
Balance, end of period, shares at Sep. 30, 2023 | 167,645,373 | 1 | ||||
Balance, end of period at Sep. 30, 2023 | $ 1,235,430 | $ 1,677 | $ 0 | $ 1,093,845 | $ (121,970) | $ 261,878 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Cash flows from operating activities: | ||
Net income | $ 178,088 | $ 712,468 |
Adjustments to reconcile net income to cash and restricted cash provided by operating activities: | ||
Depreciation, depletion and amortization | 113,052 | 126,901 |
Amortization of right of use asset - operating leases | 6,894 | 5,597 |
Amortization of deferred financing costs | 1,595 | 1,451 |
Loss on extinguishment of debt | 1,385 | 0 |
Non-cash interest expense | 24,748 | 23,544 |
Amortization of contract obligations | (23,896) | (26,883) |
Loss on disposal of property, plant and equipment | 393 | 433 |
Equity-based compensation expense | 1,563 | 2,104 |
Deferred income taxes | 13,140 | 49,929 |
Reclamation of asset retirement obligations | (3,168) | (3,961) |
(Decrease) increase in provision for discounting and credit losses | (4,255) | 572 |
Changes in operating assets and liabilities: | ||
Accounts receivable | 147,956 | (170,094) |
Inventories | (54,704) | 6,094 |
Other assets | (5,197) | (30,109) |
Accounts payable | 25,676 | (3,371) |
Accrued expenses and other current liabilities | (69,303) | 161,224 |
Operating lease liabilities | (9,311) | (6,202) |
Income tax payable | (128,418) | 88,614 |
Change in other liabilities | 7,443 | 7,073 |
Net cash provided by operating activities | 223,681 | 945,384 |
Cash flows from investing activities: | ||
Capital expenditures | (182,442) | (141,928) |
Purchase of restricted and other deposits | (26,836) | (9,558) |
Redemption of restricted and other deposits | 26,250 | 816 |
Net cash used in investing activities | (183,028) | (150,670) |
Cash flows from financing activities: | ||
Debt issuance costs and other financing costs | (3,420) | 0 |
Principal payments on interest bearing liabilities and other financial liabilities | (2,732) | (9,773) |
Principal payments on finance lease obligations | (98) | (91) |
Premiums paid on early redemption of debt | 0 | (90) |
Dividends paid | (16,755) | (473,900) |
Net cash used in financing activities | (23,005) | (483,854) |
Net increase in cash and restricted cash | 17,648 | 310,860 |
Effect of exchange rate changes on cash and restricted cash | (15,180) | (50,144) |
Cash and restricted cash at beginning of period | 334,629 | 437,931 |
Cash and restricted cash at end of period | 337,097 | 698,647 |
Supplemental disclosure of cash flow information: | ||
Cash payments for interest | 14,598 | 19,035 |
Cash paid for taxes | 148,775 | 90,888 |
Restricted cash | $ 251 | $ 251 |
Description of Business, Basis
Description of Business, Basis of Presentation | 9 Months Ended |
Sep. 30, 2023 | |
Description of Business, Basis of Presentation [Abstract] | |
Description of Business, Basis of Presentation | 1. (a) Description of the Business Coronado coals, development projects in the United States, or U.S. (b) Basis of Presentation The interim unaudited condensed consolidated financial statements requirements of U.S. generally accepted 10-Q and Article Commission, or the GAAP for complete statements and notes thereto included in the Australian Securities Exchange, or the ASX, on February The otherwise subsidiaries. references “Coronado” collectively, or to Coronado Global Resources Inc., as transactions have been eliminated upon consolidation. In necessary income, cash flows and changes in as of December 31, The necessarily indicative of the results that may be expected for |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2023 | |
Summary of Significant Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | 2. Please see Note 2 “Summary statements for the year ended December 31, 2022 included in Coronado Global Resources Inc.’s Annual Report on Form 10-K filed with the SEC and ASX on February (a) Newly Adopted Accounting Standards During Standards Board that had a material impact on the Company’s |
Segment Information
Segment Information | 9 Months Ended |
Sep. 30, 2023 | |
Segment Information [Abstract] | |
Segment Information | 3. The Company has a portfolio of operating states Operations, comprise or U.S. Operations, two one owned idled mine complex (Greenbrier) and two The two organization two CODM, manages and allocates resources to the various The CODM Adjusted EBITDA is not a measure of financial performance in accordance with U.S. GAAP. aware that measures used by other companies. Adjusted EBITDA is foreign exchange losses. Adjusted EBITDA is in analyzing each financial information for and tax. for purposes of reconciliation to the Company’s Reportable segment presented below: (in US$ thousands) Australia United States Other and Corporate Total Three months ended September 30, 2023 Total $ 455,774 $ 262,056 $ — $ 717,830 Adjusted EBITDA (32,353) 47,630 (11,899) 3,378 Total 1,217,712 1,012,399 302,905 2,533,016 Capital expenditures 10,625 50,709 173 61,507 Three months ended September 30, 2022 Total $ 546,485 $ 328,172 $ — $ 874,657 Adjusted EBITDA 88,035 145,890 (10,349) 223,576 Total 1,405,333 988,728 410,349 2,804,410 Capital expenditures 17,289 31,174 103 48,566 Nine months ended September 30, 2023 Total $ 1,286,242 $ 924,828 $ — $ 2,211,070 Adjusted EBITDA 35,580 349,160 (29,088) 355,652 Total 1,217,712 1,012,399 302,905 2,533,016 Capital expenditures 34,352 115,917 253 150,522 Nine months ended September 30, 2022 Total $ 1,730,172 $ 1,124,314 $ — $ 2,854,486 Adjusted EBITDA 523,319 578,183 (28,579) 1,072,923 Total 1,405,333 988,728 410,349 2,804,410 Capital expenditures 64,005 75,595 433 140,033 The reconciliations ended September 30, 2023 and 2022 are as follows: Three months ended Nine months ended September 30, September 30, (in US$ thousands) 2023 2022 2023 2022 Net (loss) income $ (21,083) $ 150,575 $ 178,088 $ 712,468 Depreciation, depletion and amortization 34,749 37,508 113,052 126,901 Interest expense (net of interest income) 14,496 17,220 43,341 52,034 Income tax (benefit) expense (18,230) 51,423 37,775 235,391 Other foreign exchange gains (1) (7,859) (31,917) (17,265) (55,064) Loss on extinguishment of debt 1,385 — 1,385 — Losses (gains) on idled assets (2) 456 (1,221) 3,531 621 (Decrease) increase in provision for discounting and credit losses (536) (12) (4,255) 572 Consolidated Adjusted EBITDA $ 3,378 $ 223,576 $ 355,652 $ 1,072,923 (1) certain entities within the group that are included in “Other, net” on the unaudited Consolidated Statement (2) assets that were classified as held for sale. Refer The disclosed September 30, 2023 and 2022 are as follows: Nine months ended September 30, (in US$ thousands) 2023 2022 Capital expenditures per unaudited Condensed Consolidated Cash Flows $ 182,442 $ 141,928 Accruals for capital expenditures 898 5,580 Payment for capital acquired in prior periods (11,241) (7,475) Advance payment to acquire long lead capital items (21,577) — Capital expenditures per segment detail $ 150,522 $ 140,033 Disaggregation of Revenue The Company disaggregates the revenue Company’s uncertainty of revenues and cash flows. Three months ended September 30, 2023 (in US$ thousands) Australia United States Total Product Groups: Metallurgical coal $ 419,032 $ 232,870 $ 651,902 Thermal coal 27,783 27,618 55,401 Total 446,815 260,488 707,303 Other (1) 8,959 1,568 10,527 Total $ 455,774 $ 262,056 $ 717,830 Three months ended September 30, 2022 (in US$ thousands) Australia United States Total Product Groups: Metallurgical coal $ 518,010 $ 309,609 $ 827,619 Thermal coal 19,246 16,844 36,090 Total 537,256 326,453 863,709 Other (1) 9,229 1,719 10,948 Total $ 546,485 $ 328,172 $ 874,657 Nine months ended September 30, 2023 (in US$ thousands) Australia United States Total Product Groups: Metallurgical coal $ 1,195,413 $ 773,184 $ 1,968,597 Thermal coal 65,328 129,168 194,496 Total 1,260,741 902,352 2,163,093 Other (1) 25,501 22,476 47,977 Total $ 1,286,242 $ 924,828 $ 2,211,070 Nine months ended September 30, 2022 (in US$ thousands) Australia United States Total Product Groups: Metallurgical coal $ 1,615,364 $ 1,098,186 $ 2,713,550 Thermal coal 86,537 21,247 107,784 Total 1,701,901 1,119,433 2,821,334 Other (1) 28,271 4,881 33,152 Total $ 1,730,172 $ 1,124,314 $ 2,854,486 (1) Other revenue for the Australian segment includes |
Assets Held for Sale
Assets Held for Sale | 9 Months Ended |
Sep. 30, 2023 | |
Assets Held for Sale [Abstract] | |
Assets Held for Sale | 4. During determined that all our U.S. segment, located of the Company’s core business strategy and The concluded that the timing of asset classification as held for sale. The Greenbrier mine. The assets and therefore the Condensed Consolidated Balance Sheet continues to reflect these assets and liabilities as held for sale as of that date. |
Inventories
Inventories | 9 Months Ended |
Sep. 30, 2023 | |
Inventories [Abstract] | |
Inventories | 5. (in US$ thousands) September 30, 2023 December 31, 2022 Raw coal $ 72,839 $ 50,604 Saleable coal 80,082 45,913 Total 152,921 96,517 Supplies inventory 54,351 61,501 Total $ 207,272 $ 158,018 Coal inventories measured at 1.6 million and $ 5.0 and December 31, 2022, non-market coal supply agreement. |
Property, Plant and Equipment
Property, Plant and Equipment | 9 Months Ended |
Sep. 30, 2023 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment | 6. (in US$ thousands) September 30, 2023 December 31, 2022 Land $ 27,847 $ 27,711 Buildings and improvements 87,900 91,336 Plant, machinery, mining 1,088,959 1,012,844 Mineral rights and reserves 390,394 373,309 Office and computer equipment 9,586 9,488 Mine development 548,733 565,106 Asset retirement obligation asset 76,698 87,877 Construction in process 153,162 82,713 Total 2,383,279 2,250,384 Less accumulated depreciation, depletion and amortization 956,510 860,836 Property, plant and $ 1,426,769 $ 1,389,548 |
Other Assets
Other Assets | 9 Months Ended |
Sep. 30, 2023 | |
Other Assets [Abstract] | |
Other Assets | 7. Other Assets (in US$ thousands) September 30, 2023 December 31, 2022 Other current assets Prepayments $ 33,761 $ 26,831 Long service leave receivable 7,901 7,884 Tax 4,183 4,183 Deposits to acquire capital items 33,289 — Short term deposits 21,618 — Other 17,670 21,290 Total $ 118,422 $ 60,188 The Company has receivable, receivable. Short term deposits are term deposits that do not meet |
Accrued Expenses and Other Curr
Accrued Expenses and Other Current Liabilities | 9 Months Ended |
Sep. 30, 2023 | |
Accrued Expenses and Other Current Liabilities [Abstract] | |
Accrued Expenses and Other Current Liabilities | 8. Accrued expenses and other current liabilities consist of the (in US$ thousands) September 30, 2023 December 31, 2022 Wages and employee benefits $ 45,355 $ 38,687 Taxes 8,123 5,988 Accrued royalties 61,831 117,131 Accrued freight costs 32,290 44,496 Accrued mining fees 81,466 103,492 Acquisition related accruals 11,172 11,669 Other liabilities 17,224 22,228 Total $ 257,461 $ 343,691 Acquisition acquisition, 11.2 17.3 further details. |
Leases
Leases | 9 Months Ended |
Sep. 30, 2023 | |
Leases [Abstract] | |
Leases | 9. From time to mining equipment Company’s assessment operating. During the nine months to assets and operating lease liabilities of $ 38.9 As of September 30, mobilized, that have 34.0 leases have commenced in October 2023 with lease terms 5 Information related to the Company’s right-of-use Three months ended Nine months ended (in US$ thousands) September 30, 2023 September 30, 2022 September 30, 2023 September 30, 2022 Operating lease costs $ 5,200 $ 1,699 $ 9,697 $ 6,514 Cash paid for operating lease liabilities 4,310 2,039 9,311 6,202 Finance lease costs: Amortization of right of use assets 32 31 92 130 Interest on lease liabilities 2 4 8 21 Total $ 34 $ 35 $ 100 $ 151 (in US$ thousands) September 30, 2023 December 31, 2022 Operating leases: Operating lease right-of-use assets $ 48,479 $ 17,385 Finance leases: Property and equipment 360 371 Accumulated depreciation (243) (186) Property and equipment, net 117 185 Current operating lease obligations 16,484 7,593 Operating lease liabilities, less current portion 35,248 15,505 Total 51,732 23,098 Current finance lease obligations 96 127 Finance lease liabilities, less current portion — 68 Total 96 195 Current lease obligation 16,580 7,720 Non-current lease obligation 35,248 15,573 Total $ 51,828 $ 23,293 September 30, 2023 December 31, 2022 Weighted Average Remaining Weighted average remaining lease term – finance 0.75 1.52 Weighted average remaining lease term – operating 3.19 4.11 Weighted Average Discount Weighted discount rate – finance lease 7.60% 7.60% Weighted discount rate – operating lease 9.00% 8.94% The Company’s operating leases have remaining lease 1 5 to extend the terms of lease liabilities as at September 30, 2023, are as follows: (in US$ thousands) Operating Lease Finance Lease Year ending 2023 $ 5,483 $ 33 2024 19,430 66 2025 18,642 — 2026 11,333 — 2027 3,213 — Thereafter 1,093 — Total 59,194 99 Less imputed interest (7,462) (3) Total $ 51,732 $ 96 |
Interest Bearing Liabilities
Interest Bearing Liabilities | 9 Months Ended |
Sep. 30, 2023 | |
Interest Bearing Liabilities [Abstract] | |
Interest Bearing Liabilities | 10. The following is a summary of interest-bearing liabilities September 30, 2023 December 31, 2022 Weighted Average Interest Rate at September 30, 2023 Final Maturity 10.75 % Senior Secured Notes $ 242,326 $ 242,326 12.14 % (2) 2026 New ABL Facility — — 2026 Discount and debt issuance costs (1) (7,608) (9,373) Total $ 234,718 $ 232,953 (1) Debt issuance costs incurred on the establishment unaudited Condensed Consolidated Balance Sheet. (2) Senior Secured Notes As of 10.750 % Senior due 242.3 May 15, 2026 secured obligations of the Company. The Coronado Finance other guarantors customary indebtedness, asset on capital stock. As of the Indenture. Under the terms of the issuer 101 % aggregate principal date. Alternatively, May 15 of the redemption date) set forth below, plus accrued and unpaid interest to, the issuer is not required to make a Change of Control Period Redemption price 2023 108.06% 2024 104.03% 2025 and thereafter 100.00% New Asset Based Revolving Credit Facility On May of the Company, of the Company, wholly Borrower, the Borrowers, and, together agreement in 150.0 Services Australia Ltd, as the Lender, and DBS Bank On August 3, 2023, the Company became effective and replaced the predecessor The New 150.0 $ 100.0 70.0 Availability under the New advance rates to eligible accounts receivable and inventory. Borrowings under 2.80 % plus BBSY, The New secured by indebtedness, certain general securities accounts the New ABL Collateral, (ii) the guarantors, other than the New ABL Borrower, a featherweight subject to certain customary exceptions. The New including, among 3.00 covenant regarding maintenance of interest coverage ratio to be more than 3.00 payment of dividends, or purchase or redemption of, with respect to any Equity Interests of Holdings or Subsidiaries, encumbrances, covenants relating to the incurrence or prepayment of certain debt, compliance with laws, use of proceeds, maintenance of properties, maintenance of insurance, payment obligations, financial accommodation, mergers and and limitations on changes in the nature of the Loan Parties’ Subject events of default. Under the terms of New ABL Facility, other matters, a “change of control” (as defined in the Following the the Administrative Agent and the Lenders to agree a not limited to a restructure of the terms of the New ABL Facility to the satisfaction of the Lenders a period 20 result of their discussion or meeting with the Borrowers or do not wish to the Lenders may declare all amounts owing Lenders’ letter of credit obligations and/or exercise any and all remedies To establish 3.4 elected an accounting before the debt The costs issuance costs, recorded was $ 2.9 As 21.6 guarantees on no ABL Facility. New ABL Facility. Predecessor ABL Facility On termination of the predecessor ABL Facility, the Company recorded a loss on 1.4 in its unaudited three and nine months ended September 30, 2023. The “Related Party Transactions” incorporated |
Income Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2023 | |
Income Taxes [Abstract] | |
Income Taxes | 11. For the nine months ended and applied this effective tax rate to its year-to-date pretax income at the end of the interim reporting period. The tax changes in judgment about the occur. The Company’s 2023 estimated annual effective tax rate is 18.5 %, which has been favorably impacted by mine depletion deductions in The Company had an 37.8 on 215.9 discrete benefit of $ 2.1 Income tax expense of 235.4 an estimated annual effective tax rate of 24.8 % for the period. The Company utilizes the For the nine months no interest expense. The Company is In the companies are state level. assessment. The Company assessed the need for valuation allowances by evaluating future taxable income, available for tax strategies and the reversal of temporary tax differences. |
Earnings per Share
Earnings per Share | 9 Months Ended |
Sep. 30, 2023 | |
Earnings per Share [Abstract] | |
Earnings per Share | 12. Basic earnings per the period, Diluted earnings per share of common stock is computed the weighted-average number securities. Basic and diluted earnings per share was calculated as Three months ended September 30, Nine months ended September 30, (in US$ thousands, except per share data) 2023 2022 2023 2022 Numerator: Net (loss) income attributable to Company stockholders $ (21,083) $ 150,575 $ 178,088 $ 712,468 Denominator (in thousands): Weighted-average shares of common stock outstanding 167,645 167,645 167,645 167,645 Effects of dilutive shares — 342 447 185 Weighted average diluted shares of common stock outstanding 167,645 167,987 168,092 167,830 (Loss) Earnings Per Share (US$): Basic (0.13) 0.90 1.06 4.25 Dilutive (0.13) 0.90 1.06 4.25 The Company’s common stock is publicly traded on the holders into shares of the Company’s common stock 10-for-1 basis . |
Fair Value Measurement
Fair Value Measurement | 9 Months Ended |
Sep. 30, 2023 | |
Fair Value Measurement [Abstract] | |
Fair Value Measurement | 13. The fair liability in instruments involve uncertainty and cannot be determined with The Company utilizes valuation unobservable market participants would use in pricing assumptions in fair unobservable inputs, which are categorized in one of the following Level reporting entity at the measurement date. Level 2 Inputs: for substantially the full term of the asset or liability. Level observable inputs for the asset or liability at measurement date. Financial Instruments Measured on a Recurring Basis As no recurring basis. Other Financial Instruments The following methods September 30, 2023 and December 31, 2022: ● expenses, unaudited Condensed Consolidated these instruments. ● values Sheets. ● cost. As of September 30, 2023, there were no New ABL $ 249.6 |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Losses | 9 Months Ended |
Sep. 30, 2023 | |
Accumulated Other Comprehensive Losses [Abstract] | |
Accumulated Other Comprehensive losses | 14. The Company’s Accumulated Other Comprehensive of subsidiaries for which the functional currency is different Accumulated other comprehensive losses consisted of (in US$ thousands) Foreign currency translation adjustments Balance at December 31, 2022 $ (91,423) Net current-period other comprehensive income (loss): Loss in other comprehensive income before reclassifications (11,939) Loss on long-term intra-entity foreign currency transactions (18,608) Total (30,547) Balance at September 30, 2023 $ (121,970) |
Commitments
Commitments | 9 Months Ended |
Sep. 30, 2023 | |
Commitments [Abstract] | |
Commitments | 15. (a) The rates. The future minimum royalties under these leases (in US$ thousands) Amount Year ending 2023 $ 2,115 2024 5,448 2025 5,342 2026 5,213 2027 5,188 Thereafter 26,099 Total $ 49,405 Mineral leases are not in scope of Accounting Standards Codification, accounted for under the guidance in ASC 932, Extractive (b) As of 24.0 obligated within the next twelve months. In Australia, the terminal contracts that are primarily funded 13 years . In September $ 0.8 92.0 |
Contingencies
Contingencies | 9 Months Ended |
Sep. 30, 2023 | |
Contingencies [Abstract] | |
Contingencies | 16. In the off-balance sheet No arrangements are reflected does not expect any material losses to result from these As required $ 67.9 89.1 to-back support for bank guarantees, financial payments, other performance obligations, various other operating agreements and and classified as long-term assets in the unaudited Condensed In accordance New ABL Facility to of credit. no and no For the U.S. Operations in order to provide the required financial assurance, the Company generally uses surety bonds obligations. As of 40.9 of 16.8 contractual obligations under For the 24.1 4.9 million issued from arrangements. As at September 30, 2023, the Company 40.9 million to 21.6 regulatory changes collateral requirements. Stamp duty on Curragh acquisition On September 27, 2022, the Company received from of the stamp duty duty 53.1 82.2 7.8 (A$ 12.1 awaiting the outcome of this objection. The outcome of this The Company continues to 27.8 43.0 duty Company made a partial payment following filing of the objection reducing the estimated accrual to $ 11.2 (A$ 17.3 Condensed Consolidated Balance sheet, From time to time, the in Australia, the U.S. and other countries where the Company does business. Company believes that such other pending adverse Company is not currently material effect on the financial condition, results of |
Related-Party Transactions
Related-Party Transactions | 9 Months Ended |
Sep. 30, 2023 | |
Related-Party Transactions [Abstract] | |
Related-Party Transactions | 17. Related ‑ Party Transactions The Energy & Minerals Group On September 25, 2023, Energy & of Coronado Group Company Investments Committee understands that, pursuant Group LLC to The conditions including regulatory approvals in the U.S. and Australia. The Board of to, among other things, assess such actions as the Special Committee deems appropriate The Energy and direct or indirect owner of Group LLC 845,061,399 84,506,140 shares 50.4 % of one Share. Based on information that the Company is currently aware of, control as defined under the terms of Notes and New Liabilities” for further information. Under the completion Directors, at its may include acceleration of the vesting conditions. In may assert resulting from the consummation of the SGI Transaction. For a number of Transaction counterparty agreement. |
Material Transactions
Material Transactions | 9 Months Ended |
Sep. 30, 2023 | |
Material Transactions [Abstract] | |
Material Transactions | 18. Material Transactions Curragh Housing Transaction On May 8, 2023, the Company entered into an services equipment. Revenues Customers underlying property, proceeds 22.3 34.6 Liabilities” on the Company’s Condensed Consolidated Balance Sheet. The term of the ten years 12.8 %. In connection 26.1 40.4 which will ten years 12.8 %. The Curragh Housing Agreement is subject to conditions In line addition, the accommodation the level of service for our employees at our Curragh |
Description of Business, Basi_2
Description of Business, Basis of Presentation (Policy) | 9 Months Ended |
Sep. 30, 2023 | |
Description of Business, Basis of Presentation [Abstract] | |
Description of the Business | Description of the Business Coronado coals, development projects in the United States, or U.S. |
Basis of Presentation | Basis of Presentation The interim unaudited condensed consolidated financial statements requirements of U.S. generally accepted 10-Q and Article Commission, or the GAAP for complete statements and notes thereto included in the Australian Securities Exchange, or the ASX, on February The otherwise subsidiaries. references “Coronado” collectively, or to Coronado Global Resources Inc., as transactions have been eliminated upon consolidation. In necessary income, cash flows and changes in as of December 31, The necessarily indicative of the results that may be expected for |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policy) | 9 Months Ended |
Sep. 30, 2023 | |
Summary of Significant Accounting Policies [Abstract] | |
Newly Adopted Accounting Standards | (a) Newly Adopted Accounting Standards During Standards Board that had a material impact on the Company’s |
Segment Information (Tables)
Segment Information (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Segment Information [Abstract] | |
Reportable Segment Results | (in US$ thousands) Australia United States Other and Corporate Total Three months ended September 30, 2023 Total $ 455,774 $ 262,056 $ — $ 717,830 Adjusted EBITDA (32,353) 47,630 (11,899) 3,378 Total 1,217,712 1,012,399 302,905 2,533,016 Capital expenditures 10,625 50,709 173 61,507 Three months ended September 30, 2022 Total $ 546,485 $ 328,172 $ — $ 874,657 Adjusted EBITDA 88,035 145,890 (10,349) 223,576 Total 1,405,333 988,728 410,349 2,804,410 Capital expenditures 17,289 31,174 103 48,566 Nine months ended September 30, 2023 Total $ 1,286,242 $ 924,828 $ — $ 2,211,070 Adjusted EBITDA 35,580 349,160 (29,088) 355,652 Total 1,217,712 1,012,399 302,905 2,533,016 Capital expenditures 34,352 115,917 253 150,522 Nine months ended September 30, 2022 Total $ 1,730,172 $ 1,124,314 $ — $ 2,854,486 Adjusted EBITDA 523,319 578,183 (28,579) 1,072,923 Total 1,405,333 988,728 410,349 2,804,410 Capital expenditures 64,005 75,595 433 140,033 |
Reconciliation of EBITDA to Net Income | Three months ended Nine months ended September 30, September 30, (in US$ thousands) 2023 2022 2023 2022 Net (loss) income $ (21,083) $ 150,575 $ 178,088 $ 712,468 Depreciation, depletion and amortization 34,749 37,508 113,052 126,901 Interest expense (net of interest income) 14,496 17,220 43,341 52,034 Income tax (benefit) expense (18,230) 51,423 37,775 235,391 Other foreign exchange gains (1) (7,859) (31,917) (17,265) (55,064) Loss on extinguishment of debt 1,385 — 1,385 — Losses (gains) on idled assets (2) 456 (1,221) 3,531 621 (Decrease) increase in provision for discounting and credit losses (536) (12) (4,255) 572 Consolidated Adjusted EBITDA $ 3,378 $ 223,576 $ 355,652 $ 1,072,923 (1) certain entities within the group that are included in “Other, net” on the unaudited Consolidated Statement (2) assets that were classified as held for sale. Refer |
Reconciliation of Capital Expenditures | Nine months ended September 30, (in US$ thousands) 2023 2022 Capital expenditures per unaudited Condensed Consolidated Cash Flows $ 182,442 $ 141,928 Accruals for capital expenditures 898 5,580 Payment for capital acquired in prior periods (11,241) (7,475) Advance payment to acquire long lead capital items (21,577) — Capital expenditures per segment detail $ 150,522 $ 140,033 |
Disaggregation of Revenue | Three months ended September 30, 2023 (in US$ thousands) Australia United States Total Product Groups: Metallurgical coal $ 419,032 $ 232,870 $ 651,902 Thermal coal 27,783 27,618 55,401 Total 446,815 260,488 707,303 Other (1) 8,959 1,568 10,527 Total $ 455,774 $ 262,056 $ 717,830 Three months ended September 30, 2022 (in US$ thousands) Australia United States Total Product Groups: Metallurgical coal $ 518,010 $ 309,609 $ 827,619 Thermal coal 19,246 16,844 36,090 Total 537,256 326,453 863,709 Other (1) 9,229 1,719 10,948 Total $ 546,485 $ 328,172 $ 874,657 Nine months ended September 30, 2023 (in US$ thousands) Australia United States Total Product Groups: Metallurgical coal $ 1,195,413 $ 773,184 $ 1,968,597 Thermal coal 65,328 129,168 194,496 Total 1,260,741 902,352 2,163,093 Other (1) 25,501 22,476 47,977 Total $ 1,286,242 $ 924,828 $ 2,211,070 Nine months ended September 30, 2022 (in US$ thousands) Australia United States Total Product Groups: Metallurgical coal $ 1,615,364 $ 1,098,186 $ 2,713,550 Thermal coal 86,537 21,247 107,784 Total 1,701,901 1,119,433 2,821,334 Other (1) 28,271 4,881 33,152 Total $ 1,730,172 $ 1,124,314 $ 2,854,486 (1) Other revenue for the Australian segment includes |
Inventories (Tables)
Inventories (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Inventories [Abstract] | |
Schedule of Inventories | (in US$ thousands) September 30, 2023 December 31, 2022 Raw coal $ 72,839 $ 50,604 Saleable coal 80,082 45,913 Total 152,921 96,517 Supplies inventory 54,351 61,501 Total $ 207,272 $ 158,018 |
Property, Plant and Equipment (
Property, Plant and Equipment (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Property, Plant and Equipment [Abstract] | |
Schedule of Property, Plant and Equipment | (in US$ thousands) September 30, 2023 December 31, 2022 Land $ 27,847 $ 27,711 Buildings and improvements 87,900 91,336 Plant, machinery, mining 1,088,959 1,012,844 Mineral rights and reserves 390,394 373,309 Office and computer equipment 9,586 9,488 Mine development 548,733 565,106 Asset retirement obligation asset 76,698 87,877 Construction in process 153,162 82,713 Total 2,383,279 2,250,384 Less accumulated depreciation, depletion and amortization 956,510 860,836 Property, plant and $ 1,426,769 $ 1,389,548 |
Other Assets (Tables)
Other Assets (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Other Assets [Abstract] | |
Schedule Of Other Assets | (in US$ thousands) September 30, 2023 December 31, 2022 Other current assets Prepayments $ 33,761 $ 26,831 Long service leave receivable 7,901 7,884 Tax 4,183 4,183 Deposits to acquire capital items 33,289 — Short term deposits 21,618 — Other 17,670 21,290 Total $ 118,422 $ 60,188 |
Accrued Expenses and Other Cu_2
Accrued Expenses and Other Current Liabilities (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Accrued Expenses and Other Current Liabilities [Abstract] | |
Schedule of Accrued Expenses and Other Current Liabilities | (in US$ thousands) September 30, 2023 December 31, 2022 Wages and employee benefits $ 45,355 $ 38,687 Taxes 8,123 5,988 Accrued royalties 61,831 117,131 Accrued freight costs 32,290 44,496 Accrued mining fees 81,466 103,492 Acquisition related accruals 11,172 11,669 Other liabilities 17,224 22,228 Total $ 257,461 $ 343,691 |
Leases (Table)
Leases (Table) | 9 Months Ended |
Sep. 30, 2023 | |
Leases [Abstract] | |
Information Related To Right-Of Use Assets And Related Lease Liabilities | Three months ended Nine months ended (in US$ thousands) September 30, 2023 September 30, 2022 September 30, 2023 September 30, 2022 Operating lease costs $ 5,200 $ 1,699 $ 9,697 $ 6,514 Cash paid for operating lease liabilities 4,310 2,039 9,311 6,202 Finance lease costs: Amortization of right of use assets 32 31 92 130 Interest on lease liabilities 2 4 8 21 Total $ 34 $ 35 $ 100 $ 151 (in US$ thousands) September 30, 2023 December 31, 2022 Operating leases: Operating lease right-of-use assets $ 48,479 $ 17,385 Finance leases: Property and equipment 360 371 Accumulated depreciation (243) (186) Property and equipment, net 117 185 Current operating lease obligations 16,484 7,593 Operating lease liabilities, less current portion 35,248 15,505 Total 51,732 23,098 Current finance lease obligations 96 127 Finance lease liabilities, less current portion — 68 Total 96 195 Current lease obligation 16,580 7,720 Non-current lease obligation 35,248 15,573 Total $ 51,828 $ 23,293 September 30, 2023 December 31, 2022 Weighted Average Remaining Weighted average remaining lease term – finance 0.75 1.52 Weighted average remaining lease term – operating 3.19 4.11 Weighted Average Discount Weighted discount rate – finance lease 7.60% 7.60% Weighted discount rate – operating lease 9.00% 8.94% |
Maturities Of Lease Liabilities, Operating Lease | (in US$ thousands) Operating Lease Finance Lease Year ending 2023 $ 5,483 $ 33 2024 19,430 66 2025 18,642 — 2026 11,333 — 2027 3,213 — Thereafter 1,093 — Total 59,194 99 Less imputed interest (7,462) (3) Total $ 51,732 $ 96 |
Maturities Of Lease Liabilities, Finance Lease | (in US$ thousands) Operating Lease Finance Lease Year ending 2023 $ 5,483 $ 33 2024 19,430 66 2025 18,642 — 2026 11,333 — 2027 3,213 — Thereafter 1,093 — Total 59,194 99 Less imputed interest (7,462) (3) Total $ 51,732 $ 96 |
Interest Bearing Liabilities (T
Interest Bearing Liabilities (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Interest Bearing Liabilities [Abstract] | |
Summary of Interest Bearing Liabilities | The following is a summary of interest-bearing liabilities September 30, 2023 December 31, 2022 Weighted Average Interest Rate at September 30, 2023 Final Maturity 10.75 % Senior Secured Notes $ 242,326 $ 242,326 12.14 % (2) 2026 New ABL Facility — — 2026 Discount and debt issuance costs (1) (7,608) (9,373) Total $ 234,718 $ 232,953 (1) Debt issuance costs incurred on the establishment unaudited Condensed Consolidated Balance Sheet. (2) |
Summary of Debt Redemption Information | Period Redemption price 2023 108.06% 2024 104.03% 2025 and thereafter 100.00% |
Earnings per Share (Tables)
Earnings per Share (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Earnings per Share [Abstract] | |
Schedule of Earnings Per Share | Basic and diluted earnings per share was calculated as Three months ended September 30, Nine months ended September 30, (in US$ thousands, except per share data) 2023 2022 2023 2022 Numerator: Net (loss) income attributable to Company stockholders $ (21,083) $ 150,575 $ 178,088 $ 712,468 Denominator (in thousands): Weighted-average shares of common stock outstanding 167,645 167,645 167,645 167,645 Effects of dilutive shares — 342 447 185 Weighted average diluted shares of common stock outstanding 167,645 167,987 168,092 167,830 (Loss) Earnings Per Share (US$): Basic (0.13) 0.90 1.06 4.25 Dilutive (0.13) 0.90 1.06 4.25 |
Accumulated Other Comprehensi_2
Accumulated Other Comprehensive Losses (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Accumulated Other Comprehensive Losses [Abstract] | |
Schedule of Accumulated Other Comprehensive Losses | (in US$ thousands) Foreign currency translation adjustments Balance at December 31, 2022 $ (91,423) Net current-period other comprehensive income (loss): Loss in other comprehensive income before reclassifications (11,939) Loss on long-term intra-entity foreign currency transactions (18,608) Total (30,547) Balance at September 30, 2023 $ (121,970) |
Commitments (Tables)
Commitments (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Commitments [Abstract] | |
Future Minimum Royalties | (in US$ thousands) Amount Year ending 2023 $ 2,115 2024 5,448 2025 5,342 2026 5,213 2027 5,188 Thereafter 26,099 Total $ 49,405 Mineral leases are not in scope of Accounting Standards Codification, accounted for under the guidance in ASC 932, Extractive |
Segment Information (Narrative)
Segment Information (Narrative) (Details) | 9 Months Ended |
Sep. 30, 2023 segment Properties | |
Segment Reporting Information [Line Items] | |
Number of reportable segments | segment | 2 |
United States Segment [Member] | Producing mine complexes, Buchanan and Logan [Member] | |
Segment Reporting Information [Line Items] | |
Portfolio of operating mines and development projects (number) | 2 |
United States Segment [Member] | Idled mine complex (Greenbrier) [Member] | |
Segment Reporting Information [Line Items] | |
Portfolio of operating mines and development projects (number) | 1 |
United States Segment [Member] | Development properties, Mon Valley and Russell County [Member] | |
Segment Reporting Information [Line Items] | |
Portfolio of operating mines and development projects (number) | 2 |
Segment Information (Reportable
Segment Information (Reportable Segment Results) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2022 | |
Reportable segment results | |||||
Total revenues | $ 717,830 | $ 874,657 | $ 2,211,070 | $ 2,854,486 | |
Adjusted EBITDA | 3,378 | 223,576 | 355,652 | 1,072,923 | |
Total assets | 2,533,016 | 2,804,410 | 2,533,016 | 2,804,410 | $ 2,549,927 |
Capital expenditures | 61,507 | 48,566 | 150,522 | 140,033 | |
Other and Corporate [Member] | |||||
Reportable segment results | |||||
Total revenues | 0 | 0 | 0 | 0 | |
Adjusted EBITDA | (11,899) | (10,349) | (29,088) | (28,579) | |
Total assets | 302,905 | 410,349 | 302,905 | 410,349 | |
Capital expenditures | 173 | 103 | 253 | 433 | |
Australia Segment [Member] | Operating Segments [Member] | |||||
Reportable segment results | |||||
Total revenues | 455,774 | 546,485 | 1,286,242 | 1,730,172 | |
Adjusted EBITDA | (32,353) | 88,035 | 35,580 | 523,319 | |
Total assets | 1,217,712 | 1,405,333 | 1,217,712 | 1,405,333 | |
Capital expenditures | 10,625 | 17,289 | 34,352 | 64,005 | |
United States Segment [Member] | Operating Segments [Member] | |||||
Reportable segment results | |||||
Total revenues | 262,056 | 328,172 | 924,828 | 1,124,314 | |
Adjusted EBITDA | 47,630 | 145,890 | 349,160 | 578,183 | |
Total assets | 1,012,399 | 988,728 | 1,012,399 | 988,728 | |
Capital expenditures | $ 50,709 | $ 31,174 | $ 115,917 | $ 75,595 |
Segment Information (Reconcilia
Segment Information (Reconciliation of EBITDA to Net Income) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2023 | Jun. 30, 2023 | Mar. 31, 2023 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Segment Information [Abstract] | ||||||||
Net (loss) income | $ (21,083) | $ 91,311 | $ 107,860 | $ 150,575 | $ 291,995 | $ 269,898 | $ 178,088 | $ 712,468 |
Depreciation, depletion and amortization | 34,749 | 37,508 | 113,052 | 126,901 | ||||
Interest expense (net of interest income) | 14,496 | 17,220 | 43,341 | 52,034 | ||||
Income tax (benefit) expense | (18,230) | 51,423 | 37,775 | 235,391 | ||||
Other foreign exchange gains | (7,859) | (31,917) | (17,265) | (55,064) | ||||
Loss on extinguishment of debt | 1,385 | 0 | 1,385 | 0 | ||||
Losses (gains) on idled assets | 456 | (1,221) | 3,531 | 621 | ||||
(Decrease) increase in provision for discounting and credit losses | (536) | (12) | (4,255) | 572 | ||||
Consolidated Adjusted EBITDA | $ 3,378 | $ 223,576 | $ 355,652 | $ 1,072,923 |
Segment Information (Reconcil_2
Segment Information (Reconciliation of Capital Expenditures) (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Segment Reporting, Other Significant Reconciling Item [Line Items] | ||
Capital expenditures per Condensed Consolidated Statements of Cash Flows | $ 182,442 | $ 141,928 |
Operating Segments [Member] | ||
Segment Reporting, Other Significant Reconciling Item [Line Items] | ||
Capital expenditures per Condensed Consolidated Statements of Cash Flows | 182,442 | 141,928 |
Accruals For Capital Expenditures | 898 | 5,580 |
Payment for capital acquired in prior periods | (11,241) | (7,475) |
Advance payment to acquire long lead capital items | (21,577) | 0 |
Capital expenditures per segment detail | $ 150,522 | $ 140,033 |
Segment Information (Disaggrega
Segment Information (Disaggregation of Revenue) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Disaggregation of Revenue [Line Items] | ||||
Total coal revenues | $ 707,303 | $ 863,709 | $ 2,163,093 | $ 2,821,334 |
Other revenues | 10,527 | 10,948 | 47,977 | 33,152 |
Total | 717,830 | 874,657 | 2,211,070 | 2,854,486 |
Other and Corporate [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Total | 0 | 0 | 0 | 0 |
Metallurgical Coal [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Total coal revenues | 651,902 | 827,619 | 1,968,597 | 2,713,550 |
Thermal Coal [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Total coal revenues | 55,401 | 36,090 | 194,496 | 107,784 |
Australia Segment [Member] | Operating Segments [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Total coal revenues | 446,815 | 537,256 | 1,260,741 | 1,701,901 |
Other revenues | 8,959 | 9,229 | 25,501 | 28,271 |
Total | 455,774 | 546,485 | 1,286,242 | 1,730,172 |
Australia Segment [Member] | Metallurgical Coal [Member] | Operating Segments [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Total coal revenues | 419,032 | 518,010 | 1,195,413 | 1,615,364 |
Australia Segment [Member] | Thermal Coal [Member] | Operating Segments [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Total coal revenues | 27,783 | 19,246 | 65,328 | 86,537 |
United States Segment [Member] | Operating Segments [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Total coal revenues | 260,488 | 326,453 | 902,352 | 1,119,433 |
Other revenues | 1,568 | 1,719 | 22,476 | 4,881 |
Total | 262,056 | 328,172 | 924,828 | 1,124,314 |
United States Segment [Member] | Metallurgical Coal [Member] | Operating Segments [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Total coal revenues | 232,870 | 309,609 | 773,184 | 1,098,186 |
United States Segment [Member] | Thermal Coal [Member] | Operating Segments [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Total coal revenues | $ 27,618 | $ 16,844 | $ 129,168 | $ 21,247 |
Inventories (Schedule of Invent
Inventories (Schedule of Inventories) (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Inventories [Abstract] | ||
Raw coal | $ 72,839 | $ 50,604 |
Saleable coal | 80,082 | 45,913 |
Total coal inventories | 152,921 | 96,517 |
Supplies inventory | 54,351 | 61,501 |
Total inventories | 207,272 | 158,018 |
Net realizable value of inventory | $ 1,600 | $ 5,000 |
Property, Plant and Equipment_2
Property, Plant and Equipment (Schedule of Property, Plant and Equipment) (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Property Plant And Equipment [Line Items] | ||
Total cost of property, plant and equipment | $ 2,383,279 | $ 2,250,384 |
Less accumulated depreciation, depletion and amortization | 956,510 | 860,836 |
Property, plant and equipment, net | 1,426,769 | 1,389,548 |
Land [Member] | ||
Property Plant And Equipment [Line Items] | ||
Total cost of property, plant and equipment | 27,847 | 27,711 |
Buildings And Improvements [Member] | ||
Property Plant And Equipment [Line Items] | ||
Total cost of property, plant and equipment | 87,900 | 91,336 |
Plant, Machinery, Mining Equipment And Transportation Vehicles [Member] | ||
Property Plant And Equipment [Line Items] | ||
Total cost of property, plant and equipment | 1,088,959 | 1,012,844 |
Mineral Rights And Reserves [Member] | ||
Property Plant And Equipment [Line Items] | ||
Total cost of property, plant and equipment | 390,394 | 373,309 |
Office And Computer Equipment [Member] | ||
Property Plant And Equipment [Line Items] | ||
Total cost of property, plant and equipment | 9,586 | 9,488 |
Mine Development [Member] | ||
Property Plant And Equipment [Line Items] | ||
Total cost of property, plant and equipment | 548,733 | 565,106 |
Asset Retirement Obligation Asset [Member] | ||
Property Plant And Equipment [Line Items] | ||
Total cost of property, plant and equipment | 76,698 | 87,877 |
Construction In Process [Member] | ||
Property Plant And Equipment [Line Items] | ||
Total cost of property, plant and equipment | $ 153,162 | $ 82,713 |
Other Assets (Schedule of Other
Other Assets (Schedule of Other Assets) (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Other Assets [Abstract] | ||
Prepayments | $ 33,761 | $ 26,831 |
Long service leave receivable | 7,901 | 7,884 |
Tax credits receivable | 4,183 | 4,183 |
Deposits to acquire capital items | 33,289 | 0 |
Short term deposits | 21,618 | 0 |
Other | 17,670 | 21,290 |
Total other current assets | $ 118,422 | $ 60,188 |
Accrued Expenses and Other Cu_3
Accrued Expenses and Other Current Liabilities (Schedule of Accrued Expenses and Other Current Liabilities) (Details) $ in Thousands, $ in Millions | Sep. 30, 2023 AUD ($) | Sep. 30, 2023 USD ($) | Dec. 31, 2022 USD ($) |
Accrued Expenses and Other Current Liabilities [Abstract] | |||
Wages and employee benefits | $ 45,355 | $ 38,687 | |
Taxes other than income taxes | 8,123 | 5,988 | |
Accrued royalties | 61,831 | 117,131 | |
Accrued freight costs | 32,290 | 44,496 | |
Accrued mining fees | 81,466 | 103,492 | |
Acquisition related accruals | 11,172 | 11,669 | |
Other liabilities | 17,224 | 22,228 | |
Total accrued expenses and other current liabilities | 257,461 | $ 343,691 | |
Stamp duty payable | $ 17.3 | $ 11,200 |
Leases (Narrative) (Details)
Leases (Narrative) (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Lessee, Lease, Description [Line Items] | ||
Operating Lease, Right-of-Use Asset | $ 48,479 | $ 17,385 |
Operating lease liabilities | $ 51,732 | $ 23,098 |
Operating lease, not yet commenced term | 5 years | |
Operating lease, not yet commenced, amount | $ 34,000 | |
Equipment Embedded Within Mining Service Contracts [Member] | ||
Lessee, Lease, Description [Line Items] | ||
Operating Lease, Right-of-Use Asset | 38,900 | |
Operating lease liabilities | $ 38,900 | |
Minimum [Member] | ||
Lessee, Lease, Description [Line Items] | ||
Operating leases have remaining lease terms | 1 year | |
Maximum [Member] | ||
Lessee, Lease, Description [Line Items] | ||
Operating leases have remaining lease terms | 5 years |
Leases (Information Related To
Leases (Information Related To Right-Of Use Assets And Related Lease Liabilities) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2020 | |
Operating lease costs: | ||||||
Operating lease costs | $ 5,200 | $ 1,699 | $ 9,697 | $ 6,514 | ||
Cash paid for operating lease liabilities | 4,310 | 2,039 | 9,311 | 6,202 | ||
Finance lease costs: | ||||||
Amortization of right of use assets | 32 | 31 | 92 | 130 | ||
Interest on lease liabilities | 2 | 4 | 8 | 21 | ||
Total finance lease costs | 34 | $ 35 | 100 | $ 151 | ||
Operating leases: | ||||||
Operating lease right-of-use assets | 48,479 | 48,479 | $ 17,385 | |||
Finance leases: | ||||||
Property and equipment | 2,383,279 | 2,383,279 | 2,250,384 | |||
Accumulated depreciation | (956,510) | (956,510) | (860,836) | |||
Property and equipment, net | 1,426,769 | 1,426,769 | 1,389,548 | |||
Current operating lease obligations | 16,484 | 16,484 | 7,593 | |||
Operating lease liabilities, less current portion | 35,248 | 35,248 | 15,505 | |||
Total operating lease liabilities | 51,732 | 51,732 | 23,098 | |||
Current finance lease obligations | 96 | 96 | 127 | |||
Finance lease liabilities, less current portion | 0 | 0 | 68 | |||
Total Finance lease liabilities | 96 | 96 | 195 | |||
Current lease obligation | 16,580 | 16,580 | 7,720 | |||
Non-current lease obligation | 35,248 | 35,248 | 15,573 | |||
Total Lease liability | $ 51,828 | $ 51,828 | $ 23,293 | |||
Weighted Average Remaining Lease Term (Years) | ||||||
Weighted average remaining lease term - finance leases | 9 months | 9 months | 1 year 6 months 7 days | |||
Weighted average remaining lease term - operating leases | 3 years 2 months 8 days | 3 years 2 months 8 days | 4 years 1 month 9 days | |||
Weighted Average Discount Rate | ||||||
Weighted discount rate - finance lease | 7.60% | 7.60% | 7.60% | |||
Weighted discount rate - operating lease | 9% | 9% | 8.94% | |||
Finance Leases [Member] | ||||||
Finance leases: | ||||||
Property and equipment | $ 360 | $ 360 | $ 371 | |||
Accumulated depreciation | (243) | (243) | (186) | |||
Property and equipment, net | $ 117 | $ 117 | $ 185 |
Leases (Maturities Of Lease Lia
Leases (Maturities Of Lease Liabilities) (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Operating Lease | ||
2023 | $ 5,483 | |
2024 | 19,430 | |
2025 | 18,642 | |
2026 | 11,333 | |
2027 | 3,213 | |
Thereafter | 1,093 | |
Total lease payments | 59,194 | |
Less imputed interest | (7,462) | |
Total operating lease liabilities | 51,732 | $ 23,098 |
Finance Lease, Liability, to be Paid, Fiscal Year Maturity [Abstract] | ||
2023 | 33 | |
2024 | 66 | |
2025 | 0 | |
2026 | 0 | |
2027 | 0 | |
Thereafter | 0 | |
Total lease payments | 99 | |
Less imputed interest | (3) | |
Total Finance lease liabilities | $ 96 | $ 195 |
Interest Bearing Liabilities (N
Interest Bearing Liabilities (Narrative) (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Aug. 03, 2023 | May 08, 2023 | Dec. 31, 2022 | |
Debt Instrument [Line Items] | |||||||
Loss on debt extinguishment | $ (1,385,000) | $ 0 | $ (1,385,000) | $ 0 | |||
Letters of credit outstanding, amount | 16,800,000 | 16,800,000 | |||||
Senior Secured Notes due 2026 [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Principal amount | $ 242,300,000 | $ 242,300,000 | |||||
Interest rate | 10.75% | 10.75% | |||||
Redemption price, percentage | 101% | ||||||
Debt Instrument, Maturity Date | May 15, 2026 | ||||||
Debt issuance costs | $ 7,608,000 | $ 7,608,000 | $ 9,373,000 | ||||
Senior Secured Notes due 2026 [Member] | Debt Instrument, Redemption, Beginning May 15, 2023 [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Redemption price, percentage | 1.08063% | ||||||
Senior Secured Notes due 2026 [Member] | Debt Instrument, Redemption, During Twelve-month Period to May 15, 2023 [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Redemption price, percentage | 1.04031% | ||||||
Senior Secured Notes due 2026 [Member] | Debt Instrument, Redemption, Any Time Prior to May 15 2023 [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Redemption price, percentage | 100% | ||||||
Predecessor ABL Facility [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Loss on debt extinguishment | (1,400,000) | $ (1,400,000) | |||||
New Asset Based Revolving Credit Facility [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Interest rate | 2.80% | ||||||
Credit facility, maximum borrowing capacity | $ 150,000,000 | ||||||
Debt issuance costs | 2,900,000 | 2,900,000 | $ 3,400,000 | ||||
Line of credit | 0 | $ 0 | |||||
Review event period | 20 days | ||||||
Bank guarantees amount | $ 21,600,000 | $ 21,600,000 | |||||
New Asset Based Revolving Credit Facility [Member] | Maximum [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Leverage ratio | 3 | ||||||
New Asset Based Revolving Credit Facility [Member] | Minimum [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Interest coverage leverage ratio | 3 | ||||||
New Asset Based Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Credit facility, maximum borrowing capacity | 70,000,000 | ||||||
New Asset Based Revolving Credit Facility [Member] | Letter of Credit [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Credit facility, maximum borrowing capacity | $ 100,000,000 |
Interest Bearing Liabilities (S
Interest Bearing Liabilities (Summary of Interest Bearing Liabilities) (Details) - USD ($) $ in Thousands | 9 Months Ended | ||
Sep. 30, 2023 | Aug. 03, 2023 | Dec. 31, 2022 | |
Debt Instrument [Line Items] | |||
Interest bearing liabilities | $ 234,718 | $ 232,953 | |
Senior Secured Notes [Member] | |||
Debt Instrument [Line Items] | |||
Long-term debt | 242,326 | 242,326 | |
Discount and debt issuance costs | $ (7,608) | (9,373) | |
Weighted Average Interest Rate | 12.14% | ||
Final Maturity | 2026 | ||
New Asset Based Revolving Credit Facility [Member] | |||
Debt Instrument [Line Items] | |||
Long-term debt | $ 0 | $ 0 | |
Discount and debt issuance costs | $ (2,900) | $ (3,400) | |
Final Maturity | 2026 |
Interest Bearing Liabilities _2
Interest Bearing Liabilities (Summary of Debt Redemption Information) (Details) - Senior Secured Notes [Member] | 9 Months Ended |
Sep. 30, 2023 | |
Debt Instrument Redemption [Line Items] | |
Debt Instrument, Redemption Price, Percentage | 101% |
2023 [Member] | |
Debt Instrument Redemption [Line Items] | |
Debt Instrument, Redemption Price, Percentage | 1.08063% |
2024 [Member] | |
Debt Instrument Redemption [Line Items] | |
Debt Instrument, Redemption Price, Percentage | 1.04031% |
2025 and thereafter [Member] | |
Debt Instrument Redemption [Line Items] | |
Debt Instrument, Redemption Price, Percentage | 100% |
Income Taxes (Narrative) (Detai
Income Taxes (Narrative) (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Income Taxes [Abstract] | ||||
Effective tax rate | 18.50% | 24.80% | ||
Income before tax | $ (39,313,000) | $ 201,998,000 | $ 215,863,000 | $ 947,859,000 |
Income Tax Expense (Benefit) | (18,230,000) | $ 51,423,000 | 37,775,000 | $ 235,391,000 |
Unrecognized Tax Benefits | $ 0 | 0 | ||
Discrete tax benefit | $ (2,100,000) |
Earnings per Share (Schedule of
Earnings per Share (Schedule of Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Numerator: | ||||
Net (loss) income attributable to Company stockholders | $ (21,083) | $ 150,575 | $ 178,088 | $ 712,468 |
Denominator: | ||||
Weighted-average shares of common stock outstanding | 167,645 | 167,645 | 167,645 | 167,645 |
Effects of dilutive shares | 0 | 342 | 447 | 185 |
Weighted average diluted shares of common stock outstanding | 167,645 | 167,987 | 168,092 | 167,830 |
(Loss) Earnings Per Share (US$): | ||||
Basic | $ (0.13) | $ 0.90 | $ 1.06 | $ 4.25 |
Diluted | $ (0.13) | $ 0.90 | $ 1.06 | $ 4.25 |
Common Stock, Conversion Basis | 10-for-1 basis |
Fair Value Measurement (Narrati
Fair Value Measurement (Narrative) (Details) | Sep. 30, 2023 USD ($) |
Fair Value, Measurements, Recurring | |
Derivatives, Fair Value [Line Items] | |
Financial Instruments Owned At Fair Value | $ 0 |
Fair Value, Inputs, Level 2 [Member] | |
Derivatives, Fair Value [Line Items] | |
Estimated fair value of the Notes | 249,600,000 |
New Asset Based Revolving Credit Facility [Member] | |
Derivatives, Fair Value [Line Items] | |
Line of credit | $ 0 |
Accumulated Other Comprehensi_3
Accumulated Other Comprehensive Losses (Schedule of Accumulated Other Comprehensive Losses) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2023 | Jun. 30, 2023 | Mar. 31, 2023 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||
Accumulated other comprehensive income, beginning of period | $ (91,423) | $ (91,423) | ||||||
Net current-period other comprehensive income (loss): | ||||||||
Total other comprehensive loss | $ (18,247) | $ (7,797) | (4,503) | $ (41,998) | $ (50,168) | $ 16,258 | (30,547) | $ (75,908) |
Accumulated other comprehensive income, end of period | (121,970) | (121,970) | ||||||
Foreign Currency Translation Adjustments [Member] | ||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||
Accumulated other comprehensive income, beginning of period | $ (91,423) | (91,423) | ||||||
Net current-period other comprehensive income (loss): | ||||||||
Loss in other comprehensive income before reclassifications | (11,939) | |||||||
Loss on long-term intra-entity foreign currency transactions | (18,608) | |||||||
Total other comprehensive loss | (30,547) | |||||||
Accumulated other comprehensive income, end of period | $ (121,970) | $ (121,970) |
Commitments (Narrative) (Detail
Commitments (Narrative) (Details) $ in Millions | 3 Months Ended |
Sep. 30, 2023 USD ($) | |
Commitments [Abstract] | |
Purchase commitments for capital expenditures | $ 24 |
Take-or-pay arrangement term | 13 years |
Take-or-pay arrangements, total | $ 800 |
Take-or-pay arrangements, due within the next year | $ 92 |
Commitments (Future Minimum Roy
Commitments (Future Minimum Royalties) (Details) - Royalty Agreements [Member] $ in Thousands | Sep. 30, 2023 USD ($) |
Other Commitments [Line Items] | |
2023 | $ 2,115 |
2024 | 5,448 |
2025 | 5,342 |
2026 | 5,213 |
2027 | 5,188 |
Thereafter | 26,099 |
Total | $ 49,405 |
Contingencies (Narrative) (Deta
Contingencies (Narrative) (Details) $ in Millions | 9 Months Ended | |||||
Sep. 30, 2023 USD ($) | Sep. 30, 2023 AUD ($) | Sep. 30, 2023 USD ($) | Dec. 31, 2022 USD ($) | Sep. 27, 2022 AUD ($) | Sep. 27, 2022 USD ($) | |
Loss Contingencies [Line Items] | ||||||
Company guarantees | $ 40,900,000 | |||||
Restricted deposits | 67,942,000 | $ 89,062,000 | ||||
Restricted deposits | 67,900,000 | $ 89,100,000 | ||||
Letters of Credit Outstanding, Amount | 16,800,000 | |||||
Surety bonds | 40,900,000 | |||||
Acquisition related accruals [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Loss contingency accrual | $ 43 | 27,800,000 | ||||
Stamp duty on Curragh acquisition [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Loss contingency accrual | $ 17.3 | 11,200,000 | ||||
Loss Contingency, Estimate of Possible Loss | $ 82.2 | $ 53,100,000 | ||||
Unpaid tax interest [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Loss Contingency, Estimate of Possible Loss | $ 12.1 | $ 7,800,000 | ||||
Bank guarantees certain rail and port arrangements [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Company guarantees | 24,100,000 | |||||
Bank guarantees [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Loss contingency accrual | 0 | |||||
New Asset Based Revolving Credit Facility [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Line of credit | 0 | |||||
Cash Collateral | 0 | |||||
Proceeds from debt | $ 21,600,000 | |||||
Letters of credit outstanding after expiration or termination date | $ 0 | |||||
New Asset Based Revolving Credit Facility [Member] | Bank guarantees certain rail and port arrangements [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Proceeds from debt | $ 4,900,000 |
Related-Party Transactions (Nar
Related-Party Transactions (Narrative) (Details) - Majority Shareholder [Member] - Membership Interest Purchase Agreement [Member] - Subsequent Event [Member] - Coronado Group LLC [Member] | Oct. 02, 2023 shares |
Common Stock [Member] | |
Related Party Transaction [Line Items] | |
Shares Outstanding | 84,506,140 |
Ownership percentage | 50.40% |
CDIs [Member] | |
Related Party Transaction [Line Items] | |
Shares Outstanding | 845,061,399 |
Series A Share [Member] | |
Related Party Transaction [Line Items] | |
Shares Outstanding | 1 |
Material Transactions (Narrativ
Material Transactions (Narrative) (Details) - May 08, 2023 - Scenario, Plan [Member] $ in Millions, $ in Millions | AUD ($) | USD ($) |
Curragh Housing Transaction First [Member] | ||
Line of Credit Facility [Line Items] | ||
Debt term | 10 years | 10 years |
Applicable rate | 12.80% | 12.80% |
Proceeds from debt | $ 34.6 | $ 22.3 |
Curragh Housing Transaction Second [Member] | ||
Line of Credit Facility [Line Items] | ||
Debt term | 10 years | 10 years |
Applicable rate | 12.80% | 12.80% |
Proceeds from debt | $ 40.4 | $ 26.1 |
Insider Trading Arrangements (D
Insider Trading Arrangements (Details) | 3 Months Ended |
Sep. 30, 2023 | |
Insider Trading Arr [Line Items] | |
Rule 10b 51 Arr Adopted Flag | false |
Rule 10b 51 Arr Trmntd Flag | false |
Non Rule 10b 51 Arr Trmntd Flag | false |
Non Rule 10b 51 Arr Adopted Flag | false |