ALLIANCE RESOURCE PARTNERS LP

For the period ended Dec 31, 2025. Filed Feb 26, 2026.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Feb 26, 2026

ARLP$25.08+1.3%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits

Contents

Item 15. Exhibits and Financial Statement Schedules

(a) (1)Financial Statements and Supplementary Data.


		Page
Report of Independent Registered Public Accounting Firm (PCAOB ID Number 248)		96
Consolidated Balance Sheets		98
Consolidated Statements of Income		99
Consolidated Statements of Comprehensive Income		100
Consolidated Statements of Cash Flows		101
Consolidated Statement of Partners’ Capital		102
Notes to Consolidated Financial Statements		103
1. Organization and Presentation		103
2. Summary of Significant Accounting Policies		104
3. Variable Interest Entities		113
4. Acquisitions		114
5. Fair Value Measurements		116
6. Inventories		118
7. Digital Assets		118
8. Property, Plant and Equipment		119
9. Long-Lived Asset Impairments		120
10. Investments		120
11. Leases		122
12. Long-Term Debt		123
13. Accrued Workers’ Compensation and Pneumoconiosis Benefits		126
14. Employee Benefit Plans		128
15. Asset Retirement Obligations		132
16. Commitments and Contingencies		133
17. Partners’ Capital		133
18. Common Unit-Based Compensation Plans		134
19. Revenue From Contracts With Customers		136
20. Concentration of Credit Risk and Major Customers		137
21. Related-Party Transactions		137
22. Income Taxes		139
23. Earnings Per Limited Partner Unit		141
24. Supplemental Cash Flow Information		142
25. Segment Information		142
26. Subsequent Event		145
Supplemental Oil & Gas Reserve Information (Unaudited)		146

(a)(2)Financial Statement Schedule.


Schedule I – Condensed Financial Information of Registrant		152

All other schedules are omitted because they are not applicable or the information is shown in the financial statements or notes thereto.

(a)(3) and (c)The exhibits listed below are filed as part of this annual report.

· · · · Incorporated by Reference · ·
ExhibitNumber	Exhibit Description	Form	SECFile No. andFilm No.	Exhibit	Filing Date	FiledHerewith*

3.1	Amended and Restated Certificate of Limited Partnership of Alliance Resource Partners, L.P.	8-K	000-2682317990766	3.6	07/28/2017

3.2	Fourth Amended and Restated Agreement of Limited Partnership of Alliance Resource Partners, L.P.	8-K	000-2682317990766	3.2	07/28/2017

3.3	Amendment No. 1 to the Fourth Amended and Restated Agreement of Limited Partnership of Alliance Resource Partners, L.P.	10-K	000-2682318634680	3.9	02/23/2018

3.4	Amendment No. 2 to Fourth Amended and Restated Agreement of Limited Partnership of Alliance Resource Partners, L.P., dated as of May 31, 2018.	8-K	000-268231883834	3.3	06/06/2018

3.5	Amendment No. 3 to Fourth Amended and Restated Agreement of Limited Partnership of Alliance Resource Partners, L.P., dated as of June 1, 2018.	8-K	000-268231883834	3.4	06/06/2018

3.6	Certificate of Limited Partnership of Alliance Resource Operating Partners, L.P.	S-1/A	333-7884599669102	3.8	07/23/1999

3.7	First Amendment to Certificate of Limited Partnership of Alliance Resource Operating Partners, L.P.	10-Q	000-26823241184062	3.7	08/07/2024

3.8	Second Amendment to Certificate of Limited Partnership of Alliance Resource Operating Partners, L.P.	10-Q	000-26823241184062	3.8	08/07/2024

3.9	Third Amendment to Certificate of Limited Partnership of Alliance Resource Operating Partners, L.P.	10-Q	000-26823241184062	3.9	08/07/2024

3.10	Amended and Restated Agreement of Limited Partnership of Alliance Resource Operating Partners, L.P.	10-K	000-26823583595	3.2	03/29/2000

3.11	Amendment No. 1 to Amended and Restated Agreement of Limited Partnership of Alliance Resource Operating Partners, L.P., dated as of May 31, 2018.	8-K	000-268231883834	3.5	06/06/2018

3.12	Certificate of Formation of Alliance Resource Management GP, LLC	S-1/A	333-7884599669102	3.7	07/23/1999

· · · · Incorporated by Reference · ·
ExhibitNumber	Exhibit Description	Form	SECFile No. andFilm No.	Exhibit	Filing Date	FiledHerewith*

3.13	Third Amended and Restated Operating Agreement of Alliance Resource Management GP, LLC, dated as of May 31, 2018.	8-K	000-268231883834	3.7	06/06/2018

3.14	Certificate of Formation of MGP II, LLC.	8-K	000-2682317990766	3.5	07/28/2017

3.15	Amended and Restated Operating Agreement of MGP II, LLC.	8-K	000-2682317990766	3.4	07/28/2017

4.1	Form of Common Unit Certificate (Included as Exhibit A to the Fourth Amended and Restated Agreement of Limited Partnership of Alliance Resource Partners, L.P., included in this Exhibit Index as Exhibit 3.2).	8-K	000-2682317990766	3.2	07/28/2017

4.2	Indenture, dated as of June 12, 2024, by and among Alliance Resource Operating Partners, L.P. and Alliance Resource Finance Corporation, as issuers, Alliance Resource Partners, L.P., as parent, the subsidiary guarantors party thereto and Computershare Trust Company, N.A., as trustee.	8-K	000-26823241038800	4.1	06/12/2024

4.3	Form of 8.625% Senior Note due 2029 (included in Exhibit 4.3).	8-K	000-26823241038800	4.1	06/12/2024

4.4	Description of the Registrant’s Securities registered under Section 12 of the Securities Exchange Act of 1934.	10-K	000-26823 23666549	4.4	02/24/2023

10.1	Omnibus Agreement, dated August 16, 1999, among Alliance Resource Holdings, Inc., Alliance Resource Management GP, LLC, Alliance Resource GP, LLC and Alliance Resource Partners, L.P.	10-K	000-26823583595	10.4	03/29/2000

10.2	Second Amendment to the Omnibus Agreement dated May 15, 2006 by and among Alliance Resource Partners, L.P., Alliance Resource GP, LLC, Alliance Resource Management GP, LLC, Alliance Resource Holdings, Inc., Alliance Resource Holdings II, Inc., AMH-II, LLC, Alliance Holdings GP, L.P., Alliance GP, LLC and Alliance Management Holdings, LLC	10-Q	000-26823061017824	10.1	08/09/2006

10.3(1)	Alliance Coal, LLC Short-Term Incentive Plan	10-K	000-26823583595	10.12	03/29/2000

10.4(1)	First Amendment to the Alliance Coal, LLC Short-Term Incentive Plan	10-K	000-2682307660999	10.52	03/01/2007

· · · · Incorporated by Reference · ·
ExhibitNumber	Exhibit Description	Form	SECFile No. andFilm No.	Exhibit	Filing Date	FiledHerewith*

10.5(1)	Second Amendment to the Alliance Coal, LLC Short-Term Incentive Plan	10-K	000-2682308654096	10.53	02/29/2008

10.6(1)	The Amended and Restated Alliance Coal, LLC Long-Term Incentive Plan as amended by the Third Amendment and Fourth Amendment	10-K	000-26823161460619	10.46	02/26/2016

10.7	Fifth Amendment to the Amended and Restated Alliance Coal, LLC 2000 Long-Term Incentive Plan.	8-K	000-26823201385345	10.1	12/14/2020

10.8	Sixth Amendment to the Amended and Restated Alliance Coal, LLC 2000 Long-Term Incentive Plan.	8-K	000-26823221401012	10.1	11/18/2022

10.9	Amended and Restated Administrative Services Agreement effective January 1, 2010, among Alliance Resource Partners, L.P., Alliance Resource Management GP, LLC, Alliance Resource Holdings II, Inc., Alliance Resource Operating Partners, L.P., Alliance Holdings GP, L.P. and Alliance GP, LLC.	10-Q	000-26823101000555	10.1	08/09/2010

10.10	Receivables Financing Agreement, dated as of December 5, 2014, among Borrower, PNC Bank, National Association, as administrative agent as well as the letter of credit bank, the persons from time to time party thereto as lenders, the persons from time to time party thereto as letter of credit participants, and Alliance Coal, LLC, as initial servicer	8-K	000-26823141277053	10.3	12/10/2014

10.11	First Amendment to the Receivables Financing Agreement, dated as of December 4, 2015	10-Q	000-26823161634229	10.1	05/10/2016

10.12	Second Amendment to the Receivables Financing Agreement, dated as of February 24, 2016	10-Q	000-26823161634229	10.2	05/10/2016

10.13	Third Amendment to the Receivables Financing Agreement, dated as of December 2, 2016	10-K	000-2682317636362	10.45	02/24/2017

10.14	Fourth Amendment to the Receivables Financing Agreement, dated as of November 27, 2017	10-K	000-2682318634680	10.47	02/23/2018

10.15	Fifth Amendment to the Receivables Financing Agreement, dated as of January 17, 2018	10-K	000-2682318634680	10.48	02/23/2018

10.16	Sixth Amendment to the Receivables Financing Agreement, dated as of June 19, 2018	10-Q	000-2682318994075	10.2	08/06/2018

10.17	Seventh Amendment to the Receivables Financing Agreement, dated as of January 16, 2019	10-K	000-2682319624803	10.52	02/22/2019

· · · · Incorporated by Reference · ·
ExhibitNumber	Exhibit Description	Form	SECFile No. andFilm No.	Exhibit	Filing Date	FiledHerewith*



10.18	Eighth Amendment to the Receivables Financing Agreement, dated as of October 22, 2019.	10-Q	000-26823191192460	10.2	11/05/2019

10.19	Ninth Amendment to the Receivables Financing Agreement, dated as of January 15, 2021.	10-K	000-2682321663570	10.64	02/23/2021

10.20	Tenth Amendment to the Receivables Financing Agreement, dated as of January 14, 2022.	10-K	000-2682322677260	10.57	02/25/2022

10.21	Eleventh Amendment to the Receivables Financing Agreement, dated as of January 13, 2023.	10-K	000-2682323666549	10.54	02/24/2023

10.22	Twelve Amendment to the Receivables Financing Agreement, dated as of April 21, 2023.	10-K	000-2682325678699	10.24	02/27/2025

10.23	Thirteenth Amendment to the Receivables Financing Agreement, dated as of January 12, 2024.	10-K	000-2682324670765	10.30	02/23/2024

10.24	Fourteenth Amendment to the Receivables Financing Agreement, dated as of January 10, 2025.	10-K	000-2682325678699	10.26	02/27/2025

10.25	Fifteenth Amendment to the Receivables Financing Agreement, dated as of January 9, 2026.					þ

10.26	Credit Agreement, dated as of January 13, 2023, among Alliance Coal, LLC, as borrower, Alliance Resource Operating Partners, L.P., Alliance Resource Partners, L.P., UC Coal, LLC, UC Mining, LLC, UC Processing, LLC and MGP II, LLC as additional Alliance entities and the initial lenders, initial issuing banks and swingline bank named therein, PNC Bank, National Association as administrative agent and collateral agent and PNC Capital Markets LLC, BOKF, NA DBA Bank of Oklahoma, Fifth Third Bank, National Association, Old National Bank and Trust Securities, Inc. as joint lead arrangers and joint bookrunners and the other institutions named therein as documentation agents.	8-K	000-2682323540292	10.1	01/20/2023

10.27	Amendment No. 1, dated June 12, 2024, to the Credit Agreement, dated as of January 13, 2023, among Alliance Coal, LLC, as borrower, Alliance Resource Operating	8-K	000-26823241038800	10.1	06/12/2024

· · · · Incorporated by Reference · ·
ExhibitNumber	Exhibit Description	Form	SECFile No. andFilm No.	Exhibit	Filing Date	FiledHerewith*


Partners, L.P., Alliance Resource Partners, L.P., UC Coal, LLC, UC Mining, LLC, UC Processing, LLC and MGP II, LLC as additional Alliance entities and the initial lenders, initial issuing banks and swingline bank named therein, PNC Bank, National Association as administrative agent and collateral agent and PNC Capital Markets LLC, BOKF, NA DBA Bank of Oklahoma, Fifth Third Bank, National Association, Old National Bank and Truist Securities, Inc. as joint lead arrangers and joint bookrunners and the other institutions named therein as documentation agents, arrangers and joint bookrunners and the other institutions named therein as documentation agents.

10.28	Employment letter to Steven C. Schnitzer, dated February 26, 2024.	10-K	000-2682325678699	10.29	02/27/2025

10.29	Master Supply and Services Agreement dated as of October 10, 2025.	8-K	000-26823251388654	10.1	10/10/2025

10.30	Purchase and Sale Agreement dated January 29, 2026, by and between Alliance Resource Properties, LLC and The Joseph W. Craft III Foundation.	8-K	000-2682326598830	10.1	02/04/2026

10.31	Purchase and Sale Agreement dated January 29, 2026, by and between Alliance Resource Properties, LLC and The Kathleen S. Craft Foundation.	8-K	000-2682326598830	10.2	02/04/2026

19.1	Insider Trading Policy	10-K	000-2682325678699	19.1	02/27/2025

21.1	List of Subsidiaries.					þ

23.1	Consent of Grant Thornton LLP.					þ

23.2	Consent of Cawley, Gillespie & Associates, Inc.					þ

31.1	Certification of Joseph W. Craft III, President and Chief Executive Officer of Alliance Resource Management GP, LLC, the general partner of Alliance Resource Partners, L.P., dated February 26, 2026, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.					þ

· · · · Incorporated by Reference · ·
ExhibitNumber	Exhibit Description	Form	SECFile No. andFilm No.	Exhibit	Filing Date	FiledHerewith*


31.2	Certification of Cary P. Marshall, Senior Vice President and Chief Financial Officer of Alliance Resource Management GP, LLC, the general partner of Alliance Resource Partners, L.P., dated February 26, 2026, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.					þ

32.1	Certification of Joseph W. Craft III, President and Chief Executive Officer and Chairman of Alliance Resource Management GP, LLC, the general partner of Alliance Resource Partners, L.P., dated February 26, 2026, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.					þ

32.2	Certification of Cary P. Marshall, Senior Vice President and Chief Financial Officer of Alliance Resource Management GP, LLC, the general partner of Alliance Resource Partners, L.P., dated February 26, 2026, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.					þ

95.1	Federal Mine Safety and Health Act Information					þ

96.1	Henderson/Union Resources SEC S-K 1300 Technical Report Summary dated February 2024.	10-K	000-2682324670765	96.1	02/23/2024

96.2	River View Complex SEC S-K 1300 Technical Report Summary February 2024.	10-K	000-2682324670765	96.2	02/23/2024

96.3	Hamilton Mine SEC S-K 1300 Technical Report Summary dated February 2025.	10-K	000-2682325678699	96.3	02/27/2025

96.4	Gibson South Mine SEC S-K 1300 Technical Report Summary dated February 2022.	10-K/A	000-26823 221205681	96.4	08/26/2022

96.5	Tunnel Ridge Mine SEC S-K 1300 Technical Report Summary dated February 2023.	10-K	000-2682324670765	96.5	02/23/2024

97.1	Alliance Resource Partners, L.P. Incentive Based Compensation Recoupment Policy	10-K	000-2682324670765	97.1	02/23/2024

99.1	Report of Cawley, Gillespie & Associates, Inc., dated January 15, 2026					þ

101	Interactive Data File (Form 10-K for the year ended December 31, 2025 filed in Inline XBRL).					þ

104	Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101).					þ

(1)	Denotes management contract or compensatory plan or arrangement.

Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized, in Tulsa, Oklahoma, on February 26, 2026.


	ALLIANCE RESOURCE PARTNERS, L.P.

By:	Alliance Resource Management GP, LLC
		its general partner

	/s/ Joseph W. Craft III
	Joseph W. Craft III
	President, Chief Executive
	Officer and Chairman

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

Signature	Title	Date

/s/ Joseph W. Craft III	President, Chief Executive Officer,and Chairman (Principal Executive Officer)	February 26, 2026
Joseph W. Craft III

/s/ Cary P. Marshall	Senior Vice President and Chief Financial Officer (Principal Financial Officer)	February 26, 2026
Cary P. Marshall

/s/ Megan J. Cordle	Vice President, Controller and Chief Accounting Officer (Principal Accounting Officer)	February 26, 2026
Megan J. Cordle

/s/ Nick Carter	Director	February 26, 2026
Nick Carter

/s/ Robert J. Druten	Director	February 26, 2026
Robert J. Druten

/s/ Ronna McDaniel	Director	February 26, 2026
Ronna McDaniel

/s/ Wilson M. Torrence	Director	February 26, 2026
Wilson M. Torrence

/s/ Paul H. Vining	Director	February 26, 2026
Paul H. Vining

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