Alpha Metallurgical Resources Inc

The Company currently conducts its mining operations within the Central Appalachia (“CAPP”) coal basin located in the United States. The Company hasone reportable operating segment: Met, which consists ofsix active mining complexes whose primary product is metallurgical quality coal that is extracted, processed, and marketed to domestic and international steel and coke producers. In addition to its primary product, thermal quality coal may also be produced as a by-product and marketed to domestic and international utilities and industrial customers. The segment’s equity method investment in DTA facilitates the export of coal to international customers. The Company’s All Other category includes its former CAPP – Thermal operations, which consisted of mining complexes whose primary product was thermal coal. Segment operating results are regularly reviewed by the Company’s Chief Executive Officer, who is considered its Chief Operating Decision Maker (“CODM”).

In August 2023, the Company’s last remaining thermal coal mine ceased production. As a result, beginning in 2024, the Company changed its method of allocating certain corporate level income and expense items among its operating segments. Certain expenses not previously allocated to operating segments (e.g. selling, general and administrative expenses) were allocated. Certain other income or expense items previously allocated to operating segments were fully allocated to the Company’s primary Met reportable segment. In addition, due to the cessation of mining activity within the Company’s former CAPP – Thermal operations, the Company’s CODM began to manage the Company on a consolidated basis. As ASU 2023-07 requires the Company to present the measure of profit or loss used by the CODM to allocate resources and assess performance whose measurement principles are most consistent with those used in its Consolidated Financial Statements, the Company changed its reported segment measure of profit and loss to net income. For comparability purposes, prior period segment information has been recast to conform to the current year presentation. For prior periods, income tax expense was allocated among segments by applying the Company’s consolidated annual effective income tax rate to segment earnings.

Met reportable segment results for the years ended December 31, 2024, 2023, and 2022 are as follows:

(1)Other segments items include Other operating loss (income), Loss on extinguishment of debt, and Miscellaneous (expense) income, net.

No segment level asset information has been disclosed as the CODM does not review asset information by segment. Refer to the Company’s Consolidated Balance Sheets, Statements of Cash Flows, and Note 10 for information on its consolidated assets, capital expenditures, and equity method investments, respectively.

Reconciliations of reportable segment items to consolidated amounts for the years ended December 31, 2023 and 2022 are as follows: