ALLIANCE RESOURCE PARTNERS LP Revenue Disclosure
19.REVENUE FROM CONTRACTS WITH CUSTOMERS
The following table illustrates the disaggregation of our revenues by type, including a reconciliation to our segment presentation as presented in Note 25 – Segment Information.
| Coal Operations | Royalties | Other, | ||||||||||||||||
Illinois | | | | Corporate and | | ||||||||||||||
| Basin | | Appalachia | | Oil & Gas | | Coal | | Elimination | | Consolidated | ||||||||
(in thousands) | |||||||||||||||||||
Year Ended December 31, 2025 | |||||||||||||||||||
Coal sales | $ | 1,342,334 | $ | 590,181 | $ | — | $ | — | $ | — | $ | 1,932,515 | |||||||
Oil & gas royalties | — | — | 137,849 | — | — | 137,849 | |||||||||||||
Coal royalties | — | — | — | 80,471 | (80,471) | — | |||||||||||||
Transportation revenues | 24,967 | 11,645 | — | — | — | 36,612 | |||||||||||||
Other revenues | 8,861 | 2,877 | 1,707 | — | 74,390 | 87,835 | |||||||||||||
Total revenues | $ | 1,376,162 | $ | 604,703 | $ | 139,556 | $ | 80,471 | $ | (6,081) | $ | 2,194,811 | |||||||
Year Ended December 31, 2024 | |||||||||||||||||||
|
| ||||||||||||||||||
Coal sales | $ | 1,399,100 | $ | 712,703 | $ | — | $ | — | $ | — | $ | 2,111,803 | |||||||
Oil & gas royalties | — | — | 138,311 | — | — | 138,311 | |||||||||||||
Coal royalties | — | — | — | 69,676 | (69,676) | — | |||||||||||||
Transportation revenues | 85,142 | 27,448 | — | — | — | 112,590 | |||||||||||||
Other revenues | 11,901 | 3,091 | 825 | 65 | 70,122 | 86,004 | |||||||||||||
Total revenues | $ | 1,496,143 | $ | 743,242 | $ | 139,136 | $ | 69,741 | $ | 446 | $ | 2,448,708 | |||||||
Year Ended December 31, 2023 | |||||||||||||||||||
| |||||||||||||||||||
Coal sales | $ | 1,364,901 | $ | 845,309 | $ | — | $ | — | $ | — | $ | 2,210,210 | |||||||
Oil & gas royalties | — | — | 137,751 | — | — | 137,751 | |||||||||||||
Coal royalties | — | — | — | 65,572 | (65,572) | — | |||||||||||||
Transportation revenues | 106,150 | 36,140 | — | — | — | 142,290 | |||||||||||||
Other revenues | 10,505 | 1,885 | 3,774 | 42 | 60,244 | 76,450 | |||||||||||||
Total revenues | $ | 1,481,556 | $ | 883,334 | $ | 141,525 | $ | 65,614 | $ | (5,328) | $ | 2,566,701 | |||||||
The following table illustrates the beginning and ending balances of our trade receivables:
Year Ended December 31, |
| |||||||||
| 2025 | | 2024 | | 2023 | |||||
(in thousands) | ||||||||||
Beginning balance |
| $ | 166,829 | $ | 282,622 | $ | 241,412 | |||
Ending balance | $ | 129,686 | $ | 166,829 | $ | 282,622 | ||||
The following table illustrates the projected revenue for all coal supply contracts allocated to performance obligations that are unsatisfied or partially unsatisfied as of December 31, 2025 and disaggregated by segment and contract duration.
2029 and | |||||||||||||||
| 2026 | | 2027 | | 2028 | | Thereafter | | Total | ||||||
(in thousands) | |||||||||||||||
Illinois Basin Coal Operations coal revenues | 1,199,480 | 770,364 | 453,259 | 310,474 | $ | 2,733,577 | |||||||||
Appalachia Coal Operations coal revenues | 449,944 | 298,139 | 236,920 | 18,000 | 1,003,003 | ||||||||||
Total coal revenues | 1,649,424 | 1,068,503 | 690,179 | 328,474 | $ | 3,736,580 | |||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 26, 2026 | Showing above |
| 2024 | Feb 27, 2025 | |
| 2023 | Feb 23, 2024 | |
| 2022 | Feb 24, 2023 | |
| 2021 | Feb 25, 2022 | |
| 2020 | Feb 23, 2021 | |
| 2019 | Feb 20, 2020 | |
| 2018 | Feb 22, 2019 | |
About Revenue Disclosures
Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.
Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.