ALLIANCE RESOURCE PARTNERS LP

Listed Company

ARLPCIK 0001086600NasdaqLarge AcceleratedBituminous Coal & Lignite Surface MiningDelawareFY ends Dec 31

Period

FY 2025

Revenue

$2.19B

Net Income

$311.16M

Total Assets

$2.85B

Equity

—

Shares Out

128.66M

Op. Cash Flow

$651.14M

Business

ALLIANCE RESOURCE PARTNERS LP is a diversified natural resource company that generates operating and royalty income from coal production, coal leasing and marketing, and oil & gas mineral interests. It produces and sells bituminous thermal and metallurgical coal, leases mineral acreage for oil & gas development and receives royalties, and makes strategic investments in technology, bitcoin mining and energy infrastructure. The business operates through coal mining and coal royalties segments and a mineral interests/royalties segment, and also includes Matrix Group and Bitiki. It sells coal to major domestic utilities, industrial users and international customers and transports product by barge, rail and truck while holding mineral interests primarily in the Permian, Anadarko and Williston Basins.

Summary from filing dated 2025-02-27

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenues	2,195	2,449	2,567	2,420	1,579
Outside coal purchases	22	36	36	151,000	6
General and administrative	83	82	79	80	70
Depreciation, depletion and amortization	299	285	268	277	265
Asset impairments	0	31	0	—	—
Total operating expenses	1,810	2,055	1,894	1,753	1,355
Income from Operations	385	394	672	667	224
Interest expense (net of interest capitalized of $10,663, $12,843 and $6,706, respectively)	−40	−35	−36	−37	—
Interest income	3	7	9	2	88,000
Net income (loss) on equity method investments	21	−5	−1	6	2
Change in fair value of digital assets	−4	22	0	—	—
Impairment loss on investments	−28	0	0	—	—
Other income (expense)	−889,000	−2	218,000	4	−3
Income Before Income Taxes	336	381	644	642	184
Income Tax Expense	19	16	8	54	417,000
Net Income	317	366	636	588	183
Less: Net Income Attributable to Noncontrolling Interest	−6	−5	−6	−2	−598,000
Net Income Attributable to ARLP	311	361	630	586	183
General Partner	0	0	1	9	5
Limited Partner	311	361	629	577	178
Earnings per Limited Partner Unit - Basic (in dollars per unit)	2.4	2.77	4.81	4.39	1.36
Earnings per Limited Partner Unit - Diluted (in dollars per unit)	2.4	2.77	4.81	4.39	1.36
Weighted-Average Number of Units Outstanding - Basic (in units)	128	128	127	127	127
Weighted-Average Number of Units Outstanding - Diluted (in units)	128	128	127	127	127

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	71	137	60	296	122
Trade receivables (net of allowance of $5,360 and $2,087, respectively)	130	167	283	241	130
Other receivables	2	10	10	9	680,000
Inventories, net	143	121	128	77	60
Advance royalties	10	11	8	8	5
Digital assets	52	45	10	—	—
Prepaid expenses and other assets	22	22	19	27	21
Total current assets	430	513	516	658	339
Property, plant and equipment	4,503	4,436	4,173	3,931	3,608
Less accumulated depreciation, depletion and amortization	−2,364	−2,269	−2,150	−2,051	−1,910
Total property, plant and equipment, net	2,138	2,166	2,023	1,881	1,699
Advance royalties	72	70	71	68	64
Equity method investments	70	36	47	49	26
Equity securities	82	93	93	42	—
Operating lease right-of-use assets	17	16	17	15	14
Other long-term assets	44	22	23	16	17
Total other assets	285	236	250	190	122
Total Assets	2,854	2,916	2,788	2,728	2,227
Accounts payable	82	98	108	95	70
Accrued taxes other than income taxes	20	21	21	23	18
Accrued payroll and related expenses	31	27	30	40	37
Accrued interest	2	2	4	5	5
Workers' compensation and pneumoconiosis benefits	16	15	16	14	12
Other current liabilities	29	48	28	54	20
Current maturities, long-term debt, net	24	22	20	25	16
Total current liabilities	204	233	227	256	178
Long-term debt, excluding current maturities, net	427	451	317	397	419
Pneumoconiosis benefits	101	120	127	100	108
Workers' compensation	38	37	37	40	45
Asset retirement obligations	153	155	147	142	124
Long-term operating lease obligations	15	14	14	12	12
Deferred income tax liabilities	28	29	33	36	391,000
Other liabilities	28	23	18	25	22
Total long-term liabilities	789	829	702	764	756
Total liabilities	994	1,062	930	1,020	933
Commitments and Contingencies	—	—	—	—	—
Limited Partners - Common Unitholders 128,428,024 and 128,061,981 units outstanding, respectively	1,844	1,868	1,896	1,656	1,279
Accumulated other comprehensive loss	−1	−35	−62	−41	−64
Total ARLP Partners' Capital	1,843	1,833	1,835	1,682	1,215
Noncontrolling interest	18	21	24	27	11
Total Partners' Capital	1,860	1,854	1,859	1,708	1,294
Total Liabilities and Partners' Capital	2,854	2,916	2,788	2,728	2,159

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Non-cash compensation expense	9	11	13	11	6
Coal inventory adjustment to market	5	25	33	364,000	70,000
Distributions from equity method investments	11	2	3	6	2
Net gain on sale of property, plant and equipment	−2	−262,000	−3	−4	−7
Change in deferred income tax	−884,000	−2	−9	35	349,000
Other non-cash change in digital assets	−11	−10	−13	−307,000	—
Other	20	21	10	1	4
Trade receivables	37	116	−41	−109	−26
Other receivables	8	−1	−1	−8	3
Inventories, net	−20	−22	−78	−20	−5
Prepaid expenses and other assets	−10,000	−3	4	−5	211,000
Advance royalties	−1	−3	−4	−7	−8
Accounts payable	−6	−19	18	15	19
Accrued taxes other than income taxes	−727,000	44,000	−2	5	−7
Accrued payroll and related benefits	4	−3	−10	3	8
Pneumoconiosis benefits	7	9	4	4	7
Workers' compensation	2	−105,000	−1	−4	−1
Other	−39	19	−4	20	−11
Total net adjustments	334	438	188	214	249
Net cash provided by operating activities	651	803	824	802	432
Capital expenditures	−263	−429	−379	−286	−123
Change in accounts payable and accrued liabilities	−11	9	−30	36	3
Proceeds from sale of property, plant and equipment	3	2	4	7	8
Contributions to equity method investments	−25	−3	−3	−24	—
Purchase of equity securities	−15	0	−50	−42	—
Purchase of debt securities	−3	0	0	—	—
JC Resources acquisition	0	0	−65	—	—
Oil & gas reserve business combinations	−10	0	−14	−93	—
Oil & gas reserve asset acquisitions	−8	−25	−24	—	−31
Other	1	5	8	−2	943,000
Net cash used in investing activities	−331	−441	−553	−403	−143
Borrowings under securitization facility	84	75	0	28	35
Payments under securitization facility	−84	−75	0	−28	−91
Proceeds from equipment financings	0	55	0	—	—
Payments on equipment financings	−13	−12	−25	−16	−17
Borrowings under revolving credit facilities	0	20	0	—	15
Payments under revolving credit facilities	0	−20	0	—	−103
Borrowing under long-term debt	0	400	75	—	—
Payments on long-term debt	−14	−300	−129	—	—
Payment of debt issuance costs	0	−11	−12	—	−113,000
Payments for purchases of units under unit repurchase program	0	0	−19	—	—
Payments for purchase of units and tax withholdings related to settlements under deferred compensation plans	−7	−16	−10	—	−1
Cash settlement of grants under deferred compensation plans	0	−22	0	—	—
Excess purchase price over the contributed basis from JC Resources acquisition	0	0	−7	—	—
Cash retained by JC Resources in acquisition	0	0	−3	−11	−7
Distributions paid to Partners	−337	−363	−365	−196	−52
Other	−15	−16	−11	−2	−2
Net cash used in financing activities	−386	−285	−507	−225	−223
Effect of exchange rate changes on cash and cash equivalents	99,000	0	0	—	—
Net Change in Cash and Cash Equivalents	−66	77	−236	—	—

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