ALLIANCE RESOURCE PARTNERS LP, 10-Q filed on 8/7/2025
Quarterly Report
v3.25.2
Document and Entity Information - shares
 6 Months Ended
Jun. 30, 2025
Aug. 07, 2025
Document and Entity Information    
Document Type 10-Q  
Document Quarterly Report true  
Document Transition Report false  
Document Period End Date Jun. 30, 2025  
Securities Act File Number 0-26823  
Entity Registrant Name ALLIANCE RESOURCE PARTNERS LP  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 73-1564280  
Entity Address, Address Line One 1717 South Boulder Avenue  
Entity Address, Address Line Two Suite 400  
Entity Address, City or Town Tulsa  
Entity Address, State or Province OK  
Entity Address, Postal Zip Code 74119  
City Area Code 918  
Local Phone Number 295-7600  
Title of 12(b) Security Common units  
Trading Symbol ARLP  
Security Exchange Name NASDAQ  
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 Units Outstanding   128,428,024
Entity Central Index Key 0001086600  
Current Fiscal Year End Date --12-31  
Document Fiscal Year Focus 2025  
Document Fiscal Period Focus Q2  
Amendment Flag false  
v3.25.2
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current Assets:    
Cash and cash equivalents $ 55,004 $ 136,962
Trade receivables (net of allowance of $5,243 and $2,087, respectively) 177,659 166,829
Other receivables 4,598 10,158
Inventories, net 138,712 120,661
Advance royalties 9,537 11,422
Digital assets 58,030 45,037
Prepaid expenses and other assets 17,586 22,161
Total current assets 461,126 513,230
Property, Plant and Equipment:    
Property, plant and equipment 4,516,603 4,435,535
Less accumulated depreciation, depletion and amortization (2,341,659) (2,269,265)
Total property, plant and equipment, net 2,174,944 2,166,270
Other Assets:    
Advance royalties 77,395 70,264
Equity method investments 29,628 35,532
Equity securities 67,541 92,541
Debt securities 13,046 0
Operating lease right-of-use assets 16,045 15,871
Other long-term assets 29,721 22,022
Total other assets 233,376 236,230
Total Assets 2,869,446 2,915,730
Current Liabilities:    
Accounts payable 98,248 98,188
Accrued taxes other than income taxes 24,596 21,051
Accrued payroll and related expenses 29,937 26,946
Accrued interest 1,853 1,821
Workers' compensation and pneumoconiosis benefits 14,837 14,838
Other current liabilities 42,298 48,023
Current maturities, long-term debt, net 23,081 22,275
Total current liabilities 234,850 233,142
Long-Term Liabilities:    
Long-term debt, excluding current maturities, net 439,023 450,885
Pneumoconiosis benefits 123,228 120,152
Workers' compensation 38,542 37,177
Asset retirement obligations 157,084 155,156
Long-term operating lease obligations 13,991 13,638
Deferred income tax liabilities 28,636 29,353
Other liabilities 21,602 22,694
Total long-term liabilities 822,106 829,055
Total liabilities 1,056,956 1,062,197
Commitments and Contingencies
ARLP Partners' Capital:    
Limited Partners - Common Unitholders 128,428,024 and 128,061,981 units outstanding, respectively 1,816,776 1,867,850
Accumulated other comprehensive loss (23,639) (35,103)
Total ARLP Partners' Capital 1,793,137 1,832,747
Noncontrolling interest 19,353 20,786
Total Partners' Capital 1,812,490 1,853,533
Total Liabilities and Partners' Capital $ 2,869,446 $ 2,915,730
v3.25.2
Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Statement of Financial Position [Abstract]    
Trade receivables allowance $ 5,243 $ 2,087
Common units outstanding 128,428,024 128,061,981
v3.25.2
Condensed Consolidated Statements of Income - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Sales and Operating Revenues:        
Revenues $ 547,463 $ 593,350 $ 1,087,931 $ 1,245,047
Expenses:        
Outside coal purchases 7,179 10,608 14,524 19,720
General and administrative 20,380 20,562 40,960 42,691
Depreciation, depletion and amortization 76,340 66,454 144,969 132,003
Total operating expenses 458,745 475,930 904,935 967,332
Income from Operations 88,718 117,420 182,996 277,715
Interest expense (net of interest capitalized of $3,360, $2,786, $7,848 and $5,084, respectively) (9,252) (9,277) (17,686) (17,026)
Interest income 570 2,084 1,437 3,360
Net loss on equity method investments (1,536) (152) (3,542) (705)
Change in fair value of digital assets 12,856 (3,748) 7,282 8,105
Impairment loss on investments (25,000) 0 (25,000) 0
Other income (expense) 17 (958) 628 (1,564)
Income Before Income Taxes 66,373 105,369 146,115 269,885
Income Tax Expense 5,348 3,860 9,530 8,809
Net Income 61,025 101,509 136,585 261,076
Less: Net Income Attributable to Noncontrolling Interest (1,615) (1,322) (3,192) (2,832)
Net Income Attributable to ARLP $ 59,410 $ 100,187 $ 133,393 $ 258,244
Earnings per Limited Partner Unit - Basic (in dollars per unit) $ 0.46 $ 0.77 $ 1.03 $ 1.98
Earnings per Limited Partner Unit - Diluted (in dollars per unit) $ 0.46 $ 0.77 $ 1.03 $ 1.98
Weighted-Average Number of Units Outstanding - Basic (in units) 128,428,024 128,061,981 128,347,131 127,866,439
Weighted-Average Number of Units Outstanding - Diluted (in units) 128,428,024 128,061,981 128,347,131 127,866,439
Product        
Expenses:        
Operating expenses (excluding depreciation, depletion and amortization) $ 346,288 $ 351,605 $ 685,724 $ 715,464
Coal sales        
Sales and Operating Revenues:        
Revenues 485,469 512,659 953,980 1,074,538
Oil & gas royalties        
Sales and Operating Revenues:        
Revenues 35,473 36,429 71,557 73,459
Transportation        
Sales and Operating Revenues:        
Revenues 8,558 26,701 18,758 57,454
Expenses:        
Operating expenses (excluding depreciation, depletion and amortization) 8,558 26,701 18,758 57,454
Other revenues        
Sales and Operating Revenues:        
Revenues $ 17,963 $ 17,561 $ 43,636 $ 39,596
v3.25.2
Condensed Consolidated Statements of Income (Parenthetical) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Income Statement [Abstract]        
Interest expense, interest capitalized $ 3,360 $ 2,786 $ 7,848 $ 5,084
v3.25.2
Condensed Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Net Income $ 61,025 $ 101,509 $ 136,585 $ 261,076
Other Comprehensive Income:        
Foreign currency translation adjustment 41 0 76 0
Change in unrealized gains on debt securities 10,919 0 10,919 0
Other Comprehensive Income 11,194 957 11,464 1,880
Comprehensive Income 72,219 102,466 148,049 262,956
Less: Comprehensive income attributable to noncontrolling interest (1,615) (1,322) (3,192) (2,832)
Comprehensive Income Attributable to ARLP 70,604 101,144 144,857 260,124
Defined benefit pension plan        
Other Comprehensive Income:        
Amortization of prior service cost 2 46 5 93
Amortization of net actuarial loss 0 72 0 109
Total recognized in accumulated other comprehensive Income 2 118 5 202
Pneumoconiosis benefits        
Other Comprehensive Income:        
Amortization of net actuarial loss 232 839 464 1,678
Total recognized in accumulated other comprehensive Income $ 232 $ 839 $ 464 $ 1,678
v3.25.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Statement of Cash Flows [Abstract]    
Cash Flows from Operating Activities $ 297,379 $ 425,439
Property, plant and equipment:    
Capital expenditures (153,793) (225,288)
Change in accounts payable and accrued liabilities (11,840) 4,944
Proceeds from sale of property, plant and equipment 709 969
Contributions to equity method investments (1,391) (1,290)
Purchase of debt securities (2,127) 0
Oil & gas reserve asset acquisitions (2,740) (4,720)
Other 2,929 2,392
Net cash used in investing activities (168,253) (222,993)
Cash Flows from Financing Activities:    
Borrowings under securitization facility 39,000 75,000
Payments under securitization facility (39,000) (75,000)
Proceeds from equipment financings 0 54,626
Payments on equipment financings (6,303) (5,935)
Borrowings under revolving credit facilities 0 20,000
Payments under revolving credit facilities 0 (20,000)
Borrowing under long-term debt 0 400,000
Payments on long-term debt (7,031) (292,811)
Payment of debt issuance costs 0 (11,379)
Payments for tax withholdings related to settlements under deferred compensation plan (7,082) (13,292)
Distributions paid to Partners (181,630) (181,982)
Other (9,114) (7,783)
Net cash used in financing activities (211,160) (58,556)
Effect of exchange rate changes on cash and cash equivalents 76 0
Net Change in Cash and Cash Equivalents (81,958) 143,890
Cash and Cash Equivalents at Beginning of Period 136,962 59,813
Cash and Cash Equivalents at End of Period 55,004 203,703
Supplemental Cash Flow Information:    
Cash paid for interest 23,195 21,025
Cash paid for income taxes 11,335 11,309
Supplemental Non-Cash Activity:    
Accounts payable for purchase of property, plant and equipment 11,888 19,530
Right-of-use assets acquired by operating lease 1,571 716
Market value of common units issued under deferred compensation plans before tax withholding requirements $ 17,068 $ 32,566
v3.25.2
Organization and Presentation
 6 Months Ended
Jun. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Organization and Presentation

1.ORGANIZATION AND PRESENTATION

​

Significant Relationships Referenced in Notes to Condensed Consolidated Financial Statements

​

●References to “we,” “us,” “our” or “ARLP Partnership” mean the business and operations of Alliance Resource Partners, L.P., the parent company, as well as its consolidated subsidiaries.
●References to “ARLP” mean Alliance Resource Partners, L.P., individually as the parent company, and not on a consolidated basis.
●References to “MGP” mean Alliance Resource Management GP, LLC, ARLP’s general partner.  
●References to “Mr. Craft” mean Joseph W. Craft III, the Chairman, President and Chief Executive Officer of MGP.
●References to “Intermediate Partnership” mean Alliance Resource Operating Partners, L.P., the intermediate partnership of Alliance Resource Partners, L.P.
●References to “Alliance Coal” mean Alliance Coal, LLC, an indirect wholly owned subsidiary of ARLP.
●References to “Alliance Minerals” mean Alliance Minerals, LLC, an indirect wholly owned subsidiary of ARLP.
●References to “Alliance Resource Properties” mean Alliance Resource Properties, LLC, an indirect wholly owned subsidiary of ARLP.

​

Organization

​

ARLP is a Delaware limited partnership listed on the NASDAQ Global Select Market under the ticker symbol “ARLP.” ARLP was formed in May 1999 and completed its initial public offering on August 19, 1999 when it acquired substantially all of the coal production and marketing assets of Alliance Resource Holdings, Inc., a Delaware corporation, and its subsidiaries. We are managed by our general partner, MGP, a Delaware limited liability company which holds a non-economic general partner interest in ARLP.

​

Basis of Presentation

​

The accompanying condensed consolidated financial statements include the accounts and operations of the ARLP Partnership and present our financial position as of June 30, 2025 and December 31, 2024, the results of our operations and comprehensive income for the three and six months ended June 30, 2025 and 2024 and cash flows for the six months ended June 30, 2025 and 2024. All intercompany transactions and accounts have been eliminated.

​

These condensed consolidated financial statements and notes are prepared pursuant to the rules and regulations of the Securities and Exchange Commission for interim reporting and do not include all the information normally included with financial statements prepared in accordance with generally accepted accounting principles (“GAAP”) of the United States. These financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2024.

​

These condensed consolidated financial statements and notes are unaudited. However, in the opinion of management, these condensed consolidated financial statements reflect all normal recurring adjustments necessary for a fair presentation of the results for the periods presented. Results for interim periods are not necessarily indicative of results to be expected for the full year ending December 31, 2025.

​

Use of Estimates

​

The preparation of the ARLP Partnership’s condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts and disclosures in our condensed consolidated financial statements. Actual results could differ from those estimates.

​

Investments

​

Our investments and ownership interests in equity securities without readily determinable fair values in entities in which we do not have a controlling financial interest or significant influence are accounted for using a measurement alternative other than fair value. The measurement alternative is historical cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments of the same entity. Distributions received on those investments are recorded as income unless those distributions are considered a return on investment, in which case the historical cost is reduced. We account for our ownership interests in Infinitum Electric, Inc. (“Infinitum”) and Ascend Elements, Inc. (“Ascend”) as equity securities without readily determinable fair values. See Note 7 –Investments for further discussion of these investments.  

​

Our investments and ownership interests in entities in which we do not have a controlling financial interest are accounted for under the equity method of accounting if we have the ability to exercise significant influence over the entity. Investments accounted for under the equity method are initially recorded at cost, and the difference between the basis of our investment and the underlying equity in the net assets of the entity at the investment date, if any, is amortized over the lives of the related assets that gave rise to the difference.

​

In the event our ownership requires a disproportionate sharing of income or loss, we use the hypothetical liquidation at book value (“HLBV”) method to determine the appropriate allocation of income or loss. Under the HLBV method, income or loss of the investee is allocated based on hypothetical amounts that each investor would be entitled to receive if the net assets held were liquidated at book value at the end of each period, adjusted for any contributions made and distributions received during the period.

​

We hold equity method investments in AllDale Minerals III, LP (“AllDale III”) and NGP Energy Transition, L.P. (“NGP ET IV”). See Note 3 – Variable Interest Entities for further discussion of our equity method investments.

​

We review our investments for impairment whenever events or changes in circumstances indicate a loss in the value of the investment may be other-than-temporary.

​

Our investments in debt securities classified as available-for-sale are reported at fair value with unrealized gains and losses included in other comprehensive income in partners’ capital. Credit losses, if any, are recorded as an expense. Upon maturity or conversion, any associated unrealized gain or loss will be reclassified from other comprehensive income to our condensed consolidated income statement as a realized gain or loss. We hold debt securities in Ascend. See Note 7 – Investments for further discussion of this investment.

v3.25.2
New Accounting Standards
 6 Months Ended
Jun. 30, 2025
Accounting Standards Update and Change in Accounting Principle [Abstract]  
New Accounting Standards

2.NEW ACCOUNTING STANDARDS

​

New Accounting Standards Issued and Not Yet Adopted

​

In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (“ASU 2023-09”). ASU 2023-09 primarily requires enhanced disclosures to (1) disclose specific categories in the rate reconciliation, (2) disclose the amount of income taxes paid and expensed disaggregated by federal, state, and foreign taxes, with further disaggregation by individual jurisdictions if certain criteria are met, and (3) disclose income (loss) from continuing operations before income tax (benefit) disaggregated between domestic and foreign. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. We do not expect ASU 2023-09 to have a material effect on our results of operations, cash flows and financial condition but will result in the enhanced disclosures described above.

​

In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40) (“ASU 2024-03”). ASU 2024-03 requires the disclosure of additional information about specific expense categories in the notes to the financial statements to provide enhanced transparency into the nature and function of expenses. ASU 2024-03 is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027, with early adoption permitted. We

continue to evaluate the impact of ASU 2024-03 on our results of operations, cash flows, financial condition and related disclosures.
v3.25.2
Variable Interest Entities
 6 Months Ended
Jun. 30, 2025
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures [Abstract]  
Variable Interest Entities

3.VARIABLE INTEREST ENTITIES

​

AllDale I & II and Cavalier Minerals

​

We own the general partner interests and, including the limited partner interests we hold through our ownership in Cavalier Minerals JV, LLC (“Cavalier Minerals”), approximately 97% of the limited partner interests in AllDale Minerals LP (“AllDale I”) and AllDale Minerals II, LP (“AllDale II”, and collectively with AllDale I, “AllDale I & II”). As the general partner of AllDale I & II, we are entitled to receive 20.0% of all distributions from AllDale I & II with the remaining 80.0% allocated to limited partners based upon ownership percentages.

​

Cavalier Minerals owns approximately 72% of the limited partner interests in AllDale I & II. We own the managing member interest and a 96% member interest in Cavalier Minerals. Bluegrass Minerals Management, LLC (“Bluegrass Minerals”) owns a 4% member interest in Cavalier Minerals and a profits interest which entitles it to receive distributions equal to 25% of all distributions (including in liquidation) after all members have recovered their investment. All members have recovered their investment and Bluegrass Minerals began receiving its profits interest distributions in late 2022.

​

We have concluded that AllDale I, AllDale II and Cavalier Minerals are variable interest entities (“VIEs”) which we consolidate as the primary beneficiary because we have the power to direct the activities that most significantly impact the economic performance of AllDale I, AllDale II and Cavalier Minerals in addition to having substantial equity ownership.

​

Our share of Cavalier Minerals’ investment in AllDale I & II is eliminated in consolidation and Bluegrass Minerals’ investment in Cavalier Minerals is accounted for as noncontrolling ownership interest on our condensed consolidated balance sheets. Additionally, earnings attributable to Bluegrass Minerals are recognized as noncontrolling interest in our condensed consolidated statements of income.

​

The following table presents the carrying amounts and classification of AllDale I & II’s assets and liabilities included in our condensed consolidated balance sheets:

​

​

​

​

​

​

​

​

​

​

​

June 30, 

​

December 31, 

​

​

​

2025

    

2024

​

Assets (liabilities):

    

(in thousands)

 

Cash and cash equivalents

​

$

4,313

​

$

5,154

​

Trade receivables

​

 

12,271

​

 

11,209

​

Total property, plant and equipment, net

​

 

364,734

​

 

373,093

​

Accounts payable

​

​

(217)

​

​

(221)

​

Due to affiliates

​

 

(25)

​

​

—

​

Accrued taxes other than income taxes

​

 

(649)

​

​

(870)

​

​

AllDale III

​

AllDale III owns oil & gas mineral interests in areas around the oil & gas mineral interests we own. Alliance Minerals owns a 13.9% limited partner interest in AllDale III. Alliance Minerals’ investment in AllDale III is subject to a 25% profits interest for the general partner that is subject to a return hurdle equal to the greater of 125% of cumulative capital contributions and a 10% internal rate of return, and following an 80/20 “catch-up” provision for the general partner.

​

We have concluded that AllDale III is a VIE that we do not consolidate. AllDale III is structured as a limited partnership with the limited partners (1) not having the ability to remove the general partner and (2) not participating significantly in operational decisions. We are not the primary beneficiary of AllDale III because we do not have the power to direct the activities that most significantly impact AllDale III’s economic performance. At June 30, 2025 and December 31, 2024, the carrying value of our investment in AllDale III was $21.6 million and $22.5 million, respectively.

​

NGP ET IV

​

On June 2, 2022, we committed to purchase $25.0 million of limited partner interests in NGP ET IV, a private equity fund sponsored by NGP and focused on investments that are part of the global transition toward a lower carbon economy. This commitment represents a 3.6% interest in NGP ET IV. As of June 30, 2025, we have funded $10.9 million of this commitment.  

​

We have concluded that NGP ET IV is a VIE that we do not consolidate. NGP ET IV is structured as a limited partnership with limited partners (i) not having the ability to remove the general partner and (ii) not participating significantly in operational decisions. We are not the primary beneficiary of NGP ET IV because we do not have the power to direct the activities that most significantly impact NGP ET IV’s economic performance. At June 30, 2025 and December 31, 2024, the carrying value of our investment in NGP ET IV was $8.0 million and $8.8 million, respectively.

​

Gavin Generation

​

In February 2025, we committed to invest up to $25.0 million of limited partner interests in Gavin Generation Holdings A, LP (“Gavin Generation”), which is sponsored by a private equity firm. Gavin Generation intends to own, indirectly, an interest in a joint venture holding company formed with a third party that plans to indirectly acquire, own and operate a coal-fired power plant. This commitment represents an interest of 5.4% in Gavin Generation (based on total commitments). Our investment in Gavin Generation is subject to a customary profit interest in favor of the general partner after the return of capital to the limited partners and the investment generating a specified internal rate of return in favor of the limited partners. On August 6, 2025, we funded $22.1 million of our $25.0 million capital commitment.

​

We have concluded that Gavin Generation is a variable interest entity that we do not consolidate. Gavin Generation is structured as a limited partnership with the limited partners (1) not having the ability to remove the general partner and (2) not participating significantly in operational decisions. We are not the primary beneficiary of Gavin Generation because we do not have the power to direct the activities that most significantly impact Gavin Generation's economic performance.
v3.25.2
Fair Value Measurements
 6 Months Ended
Jun. 30, 2025
Fair Value Disclosures [Abstract]  
Fair Value Measurements

4.FAIR VALUE MEASUREMENTS

​

The following table summarizes certain fair value measurements within the hierarchy:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Fair Value

​

​

 

Carrying
Value

    

Level 1

    

Level 2

    

Level 3

    

​

​

(in thousands)

​

June 30, 2025

​

​

​

​

​

​

​

​

​

​

​

​

​

Recorded on a recurring basis:

​

​

​

​

​

​

​

​

​

​

​

​

​

Digital assets

​

$

58,030

​

$

58,030

​

$

—

​

$

—

​

Contingent consideration

​

$

10,677

​

$

—

​

$

—

​

$

10,677

​

Debt securities

​

$

13,046

​

$

—

​

$

—

​

$

13,046

​

Additional disclosures:

​

​

​

​

​

​

​

​

​

​

​

​

​

Long-term debt

​

$

477,054

​

$

—

​

$

510,517

​

$

—

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31, 2024

​

​

​

​

​

​

​

​

​

​

​

​

​

Recorded on a recurring basis:

​

​

​

​

​

​

​

​

​

​

​

​

​

Digital assets

​

$

45,037

​

$

45,037

​

$

—

​

$

—

​

Contingent consideration

​

$

13,100

​

$

—

​

$

—

​

$

13,100

​

Additional disclosures:

​

​

​

​

​

​

​

​

​

​

​

​

​

Long-term debt

​

$

490,387

​

$

—

​

$

523,461

​

$

—

​

​

The carrying amounts for cash equivalents, accounts receivable, accounts payable, accrued and other liabilities approximate fair value due to the short maturity of those instruments.

​

The fair value of our digital assets is based on an exchange quoted price.  See Note 6 – Digital Assets for more information on our digital assets.

​

The fair value measurement of our contingent consideration liability is determined using an option approach methodology simulation based on significant inputs not observable in active markets representing a Level 3 fair value measurement under the fair value hierarchy. Our contingent consideration liability is associated with our acquisition of our Hamilton County Coal, LLC (“Hamilton”) mine in 2015 wherein we agreed to pay the seller additional consideration for the acquisition if the average quarterly sales price exceeds a defined threshold price in any future quarters subject to a maximum of $110.0 million reduced for any payments made under an overriding royalty agreement with the sellers relating to mineral interests controlled by our Hamilton mine. We have paid $14.1 million under this contingent consideration agreement and $0.3 million under the overriding royalty agreement as of June 30, 2025.

​

The fair value measurement of our debt securities is determined using a combination of market approaches and option-pricing models which utilize significant inputs not observable in active markets representing a Level 3 fair value measurement under the fair value hierarchy. See Note 7 – Investments for additional information on our debt securities.

​

The estimated fair value of our long-term debt, including current maturities, is based on interest rates that we believe are currently available to us in active markets for issuance of debt with similar terms and remaining maturities. See Note 8 – Long-Term Debt for additional information on our long-term debt.

​

Quantitative Information about Level 3 Fair Value Measurements

​

Contingent Consideration

​

Our option approach methodology simulation for contingent consideration generates an expected payment for each quarter in Hamilton’s mine life by using proprietary internal estimates of our uncommitted coal sales prices and generating a simulated uncommitted coal sales price by applying unobservable inputs through a million simulations. This simulated coal sales price is then used in a calculation of the expected future payments using our proprietary committed coal sales prices and production for each quarter. We then calculate the present value of the estimated future payments. The following table presents quantitative information about certain significant unobservable inputs used in the fair value measurement for our contingent consideration liability. The use of significant unobservable inputs results in uncertainty as of the reporting date, as changes in these unobservable inputs could significantly raise or lower the estimated fair value.

​

​

​

​

​

​

​

​

​

​

 

Valuation Technique(s)

 

Unobservable Input

 

Range/Amount
(Average) (a)

​

​

​

​

​

​

​

​

​

June 30, 2025

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Contingent Consideration

​

Option approach methodology simulation

​

Cost of Debt

​

6.51% - 8.56%

​

​

​

​

​

Coal price volatility

​

6.2%

​

​

​

​

​

Market price of risk adjustment (annual)

​

6.2%

​

December 31, 2024

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Contingent Consideration

​

Option approach methodology simulation

​

Cost of Debt

​

6.51% - 8.56%

​

​

​

​

​

Coal price volatility

​

6.2%

​

​

​

​

​

Market price of risk adjustment (annual)

​

6.2%

​

​

​

​

​

​

​

​

​

(a) Averages represent the arithmetic average of the inputs and is not weighted by a relative fair value or notional amount

​

​

The following table represents changes in our contingent consideration liability:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended

​

Six Months Ended

​

​

​

June 30, 

​

June 30, 

​

​

    

2025

    

2024

    

2025

​

2024

 

​

​

(in thousands)

​

Beginning balance

​

$

11,324

​

$

8,469

​

$

13,100

​

$

9,900

​

Noncash changes in fair value (1)

​

​

2,005

​

​

—

​

​

2,005

​

​

—

​

Payments

​

​

(2,652)

​

​

(2,380)

​

​

(4,428)

​

​

(3,811)

​

Ending balance

​

$

10,677

​

$

6,089

​

$

10,677

​

$

6,089

​

(1)Noncash changes in the fair value of our continent consideration liability are included in the Operating expenses (excluding depreciation, depletion and amortization) line item within our condensed consolidated statements of income.

​

Debt Securities

​

The fair value of our debt securities is determined using a combination of market approaches and option-pricing models. The underlying enterprise value is estimated using income and market approaches which utilize discounted cash flows and market participant values for assets in hypothetical sales scenarios. The enterprise value is then utilized in market approach models and option-pricing models taking into account the rights and preferences of the convertible notes, expected exit scenarios, and volatility associated with such outcomes to arrive at a fair value. The following table presents quantitative information about certain significant unobservable inputs used in the fair value measurement. The use of significant unobservable inputs results in uncertainty as of the reporting date, as changes in these unobservable inputs could significantly raise or lower the estimated fair value.

​

​

​

​

​

​

​

​

​

​

 

Valuation Technique(s)

 

Unobservable Input

 

Range/Amount
(Average) (a)

​

​

​

​

​

​

​

​

​

June 30, 2025

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Debt securities

​

Option-pricing approach methodology

​

Industry volatility

​

29.10% - 70.86% (49.98%)

​

​

​

​

​

Estimated time to exit

​

2.0 - 4.0 (3.0) years

​

​

​

Income approach methodology

​

Forecasted future cash flow

​

$906.6 - $1,285.9 ($1,096.3) million

​

​

​

​

​

Cost of capital

​

11.25% - 16.58% (13.92%)

​

​

​

​

​

​

​

​

​

(a) Averages represent the arithmetic average of the inputs and is not weighted by a relative fair value or notional amount

​

​

The following table represents changes in our debt securities:

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended

​

Six Months Ended

​

​

​

June 30, 

​

June 30, 

​

​

    

2025

    

2025

 

​

​

(in thousands)

​

Beginning balance

​

$

—

​

$

—

​

Noncash changes in fair value (1)

​

​

10,919

​

​

10,919

​

Payments

​

​

2,127

​

​

2,127

​

Ending balance

​

$

13,046

​

$

13,046

​

(1)Noncash changes in the fair value of our debt securities are included in the Change in unrealized gains (losses) on debt securities line item within our condensed consolidated statements of comprehensive income.
v3.25.2
Inventories
 6 Months Ended
Jun. 30, 2025
Business Combination [Abstract]  
Inventories

5.INVENTORIES

​

Inventories consist of the following:

​

​

​

​

​

​

​

​

​

​

​

June 30, 

​

December 31, 

​

​

​

2025

    

2024

 

​

​

(in thousands)

​

Coal

​

$

55,171

​

$

37,290

​

Finished goods (net of reserve for obsolescence of $2,366 and $2,481, respectively)

​

​

14,586

​

​

14,197

​

Work in process

​

​

1,778

​

​

1,560

​

Raw materials

​

​

6,975

​

​

7,192

​

​

​

​

78,510

​

​

60,239

​

Supplies (net of reserve for obsolescence of $7,152 and $6,409, respectively)

​

 

60,202

​

 

60,422

​

Total inventories, net

​

$

138,712

​

$

120,661

​

​

The above balances reflect lower of cost or net realizable value adjustments to our coal inventories of $2.7 million and $24.6 million as of June 30, 2025 and December 31, 2024, respectively. The adjustment as of June 30, 2025 is primarily a result of higher cost per ton at the MC Mining, LLC (“MC Mining”) mining complex as a result of lower production. The adjustment as of December 31, 2024 is the result of lower coal sale prices and higher cost per ton primarily due to a longwall move at the Hamilton mining complex, lower production at Mettiki Coal, LLC and Mettiki Coal (WV), LLC (collectively “Mettiki”) and MC Mining mining complexes, and ongoing development activities at the Henderson County mine at our River View Coal, LLC (“River View”) mining complex.
v3.25.2
Digital Assets
 6 Months Ended
Jun. 30, 2025
Crypto Asset, Fair Value [Abstract]  
Digital Assets

6.DIGITAL ASSETS

​

The following table sets forth our digital assets as shown on the condensed consolidated balance sheet:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

June 30, 2025

​

December 31, 2024

​

​

​

Units

​

Cost Basis

​

Fair Value

​

Units

​

Cost Basis

​

Fair Value

​

Digital assets:

​

(in thousands, except unit data)

​

Bitcoin

​

​

541.39

​

$

24,496

​

$

58,030

​

​

481.89

​

$

18,748

​

$

45,037

​

Total

​

​

​

​

$

24,496

​

$

58,030

​

​

​

​

$

18,748

​

$

45,037

​

​
v3.25.2
Investments
 6 Months Ended
Jun. 30, 2025
Investments [Abstract]  
Investments

7.           INVESTMENTS

​

Equity Method Investments

​

The changes in our equity method investments were as follows:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended

​

Six Months Ended

​

​

​

June 30, 

​

June 30, 

​

​

    

2025

    

2024

    

2025

    

2024

    

​

​

(in thousands)

​

Beginning balance

​

$

33,555

​

$

45,693

​

$

35,532

​

$

46,503

​

Contributions

​

​

513

​

​

665

​

​

1,391

​

​

1,290

​

Net loss on equity method investments

​

​

(1,536)

​

​

(152)

​

​

(3,542)

​

​

(705)

​

Distributions received

​

​

(2,904)

​

​

(1,118)

​

​

(3,753)

​

​

(2,000)

​

Ending balance

​

$

29,628

​

$

45,088

​

$

29,628

​

$

45,088

​

​

Net loss on equity method investments represents our share of the income or loss of the equity method investments.

​

Infinitum

​

During 2022, we purchased shares of Series D Preferred Stock (“Series D Preferred Stock”) in Infinitum for $42.0 million. Infinitum is a Texas-based startup developer and manufacturer of electric motors featuring printed circuit board stators.  On September 8, 2023, we purchased $24.6 million of Series E Preferred Stock (“Series E Preferred Stock” and, together with the “Series D Preferred Stock,” the “Infinitum Preferred Stock”) in Infinitum.  The Infinitum Preferred Stock provides for non-cumulative dividends when and if declared by Infinitum’s board of directors. Each share of Infinitum Preferred Stock is convertible, at any time, at our option, into shares of common stock of Infinitum. We account for our ownership interest in Infinitum as an equity investment without a readily determinable fair value. Absent an observable price change, it is not practicable to estimate the fair value of our investment in Infinitum because of the lack of a quoted market price for our ownership interests.  Therefore, we use a measurement alternative other than fair value to account for our investment.

​

Ascend

​

On August 22, 2023, we purchased shares of Series D Preferred Stock (the “Ascend Series D Preferred Stock”) in Ascend for $25.0 million which was accounted for as an equity investment without a readily determinable fair value because of the lack of quoted market prices. Ascend is a U.S.-based manufacturer and recycler of sustainable, engineered battery materials for electric vehicles. In June 2025, Ascend raised new capital through a convertible note financing. Under the terms of the convertible note and the resulting recapitalization, all existing shares of each outstanding series of preferred stock were converted into common stock on a 1:1 basis for stockholders that participated in the convertible note purchase, or on a 3:1 basis if they did not participate.

​

We elected to participate in the recapitalization of Ascend with a $3.1 million commitment to purchase convertible debt. We have funded $2.1 million of our commitment as of June 30, 2025. The convertible notes provide for a redemption in two years for an amount equal to the greater of (a) a multiple of each stockholder’s investment in the convertible notes as determined by the level of participation or (b) the principal amount of each stockholder’s investment in the convertible notes plus an annual interest rate of 15%. Based on our level of participation, our convertible notes provide for a multiple of 12 times our funded commitment at redemption. We concluded that these convertible notes represent available-for-sale debt securities. We do not intend to sell our debt securities (which are subject to certain transfer restrictions) and believe it is likely that we will not be required to sell them before redemption. As a result of our participation in the recapitalization, our shares of Ascend Series D Preferred Stock converted into common stock on a 1:1 basis.

​

The following table reflects our debt securities holdings:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

June 30, 2025

​

​

​

Cost Basis

​

Unrealized Gains (1)

​

Fair Value

​

​

​

(in thousands, except unit data)

​

Debt Securities

​

$

2,127

​

$

10,919

​

$

13,046

​

(1)Unrealized gains in our debt securities are included in the Change in unrealized gains (losses) on debt securities line item within our condensed consolidated statements of comprehensive income.

​

As discussed in Note 4 – Fair Value Measurements, we determined the fair value of the debt securities was $13.0 million. In the same models used to determine the value of the debt securities, we determined that the common stock we hold in Ascend as a result of the conversion had no value, resulting in an impairment charge of $25.0 million included in our condensed consolidated statements of income. The $25.0 million impairment charge is a Level 3 fair value measurement and is included within our Other, Corporate and Elimination category.  
v3.25.2
Long-Term Debt
 6 Months Ended
Jun. 30, 2025
Debt Disclosure [Abstract]  
Long-Term Debt

8.LONG-TERM DEBT

​

Long-term debt consists of the following:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Unamortized Discount and

​

​

​

Principal

​

Debt Issuance Costs

​

​

​

June 30, 

​

December 31, 

​

June 30, 

​

December 31, 

​

​

    

2025

    

2024

    

2025

    

2024

 

​

​

(in thousands)

​

Revolving credit facility

​

$

—

​

$

—

​

$

(6,119)

​

$

(7,231)

​

Term loan

​

 

38,672

​

 

45,703

​

 

(1,080)

​

 

(1,276)

​

8.625% Senior notes due 2029

​

​

400,000

​

​

400,000

​

​

(7,751)

​

​

(8,720)

​

Securitization facility

​

​

—

​

​

—

​

​

—

​

​

—

​

February 2024 equipment financing

​

​

38,382

​

​

44,684

​

​

—

​

​

—

​

​

​

 

477,054

​

 

490,387

​

 

(14,950)

​

 

(17,227)

​

Less current maturities

​

 

(27,475)

​

 

(26,669)

​

 

4,394

​

 

4,394

​

Total long-term debt

​

$

449,579

​

$

463,718

​

$

(10,556)

​

$

(12,833)

​

​

Credit Facility

​

On January 13, 2023, Alliance Coal, as borrower, entered into a Credit Agreement with various financial institutions which was amended on June 12, 2024 (the “Credit Agreement”).  The Credit Agreement provides for a $425.0 million revolving credit facility which includes a sublimit of $15.0 million for swingline borrowings and permits the issuance of letters of credit up to the full amount of the Credit Facility (the “Revolving Credit Facility”), and for a term loan in an aggregate principal amount of $75.0 million (the “Term Loan”). The Revolving Credit Facility also includes an incremental facility providing for an increase of $100.0 million at our option subject to lenders agreeing to participate in such incremental facility. The Credit Agreement matures on March 9, 2028, at which time the aggregate outstanding principal amount of all Revolving Credit Facility advances and all Term Loan advances are required to be repaid in full. Interest is payable quarterly, with principal on the Term Loan due in quarterly installments equal to 6.25% of the outstanding balance of the Term Loan on the Credit Agreement amendment date beginning with the quarter ended June 30, 2024.

​

The Credit Agreement is guaranteed by ARLP and certain of its subsidiaries, including the Intermediate Partnership and most of the direct and indirect subsidiaries of Alliance Coal (the “Subsidiary Guarantors”). The Credit Agreement also is secured by substantially all of the assets of the Subsidiary Guarantors and Alliance Coal. Borrowings under the Credit Agreement bear interest, at our option, at either (i) an adjusted one-month, three-month or six-month term rate based on the secured overnight financing rate published by the Federal Reserve Bank of New York, plus the applicable margin or (ii) the base rate plus the applicable margin. The base rate is the highest of (i) the Overnight Bank Funding Rate plus 0.50%, (ii) the Administrative Agent’s prime rate, and (iii) the Daily Simple Secured Overnight Financing Rate plus 100 basis points. The applicable margin for borrowings under the Credit Agreement are determined by reference to the Consolidated Debt to Consolidated Cash Flow Ratio. For borrowings under the Term Loan, we elected the one-month term rate, with applicable margin, which was 7.68% as of June 30, 2025.  At June 30, 2025, we had $41.0 million of letters of credit outstanding with $384.0 million available for borrowing under the Revolving Credit Facility. We incur an annual commitment fee of 0.50% on the undrawn portion of the Revolving Credit Facility. We utilize the Credit Agreement, as appropriate, for working capital requirements, capital expenditures and investments, scheduled debt payments and distribution payments.  

​

The Credit Agreement contains various restrictions affecting Alliance Coal and its subsidiaries, including, among other things, restrictions on incurrence of additional indebtedness and liens, sale of assets, investments, mergers and consolidations and transactions with affiliates. In each case, these restrictions are subject to various exceptions. In addition, restrictions apply to cash distributions by Alliance Coal to the Intermediate Partnership if such distribution would result in exceeding the debt of Alliance Coal to cash flow ratio (as determined in the Credit Agreement) being more than 1.0 to 1.0 or in Alliance Coal having liquidity of less than $200 million. The Credit Agreement requires us to maintain (a) a debt of Alliance Coal to cash flow ratio of not more than 1.5 to 1.0, (b) a consolidated debt of Alliance Coal and the Intermediate Partnership to cash flow ratio of not more than 2.5 to 1.0 and (c) an interest coverage ratio of not less than 3.0 to 1.0, in each case, during the four most recently ended fiscal quarters. The debt of Alliance Coal to cash flow ratio, consolidated debt of Alliance Coal and the Intermediate Partnership to cash flow ratio, and interest coverage ratio were 0.16 to 1.0, 1.00

to 1.0 and 35.07 to 1.0, respectively, for the trailing twelve months ended June 30, 2025. We were in compliance with the covenants of the Credit Agreement as of June 30, 2025 and anticipate remaining in compliance with the covenants.  

​

8.625% Senior Notes due 2029

​

On June 12, 2024, the Intermediate Partnership and Alliance Resource Finance Corporation (as co-issuer), a wholly owned subsidiary of the Intermediate Partnership (“Alliance Finance”), issued an aggregate principal amount of $400.0 million of senior unsecured notes due 2029 (the “2029 Senior Notes”) in a private placement to qualified institutional buyers.  The 2029 Senior Notes have a term of five years, maturing on June 15, 2029 and accrue interest at an annual rate of 8.625%.  Interest is payable semi-annually in arrears on each June 15 and December 15. The 2029 Senior Notes are guaranteed, jointly and severally, on a senior unsecured basis by ARLP, certain of ARLP’s wholly owned oil and gas and coal royalties subsidiaries and each of ARLP’s subsidiaries that guarantee obligations under the Credit Agreement. The indenture governing the 2029 Senior Notes contains customary terms, events of default and covenants relating to, among other things, the incurrence of debt, the payment of distributions or similar restricted payments, undertaking transactions with affiliates and limitations on asset sales.

​

At any time prior to June 15, 2026, the issuers may redeem up to 35% of the aggregate principal amount of the 2029 Senior Notes at a redemption price equal to 108.625% of the principal amount redeemed, plus accrued and unpaid interest, if any, to, but excluding, the redemption date, with an amount of cash not greater than the net proceeds from one or more equity offerings. The issuers may also redeem all or a part of the 2029 Senior Notes at any time on or after June 15, 2026, at the redemption prices set forth in the indenture, plus accrued and unpaid interest, if any, to, but excluding, the redemption date. At any time prior to June 15, 2026, the issuers may redeem the 2029 Senior Notes at a redemption price equal to the principal amount plus a “make-whole” premium, plus accrued and unpaid interest, if any, to, but excluding, the redemption date.

​

In addition, if prior to June 15, 2026, a Specified Minerals Disposition (as defined in the indenture governing the 2029 Senior Notes and which involves oil and gas mineral interests) occurs, the issuers will be required to make an offer to purchase up to 40% of the aggregate principal amount of 2029 Senior Notes then outstanding at an offer price in cash in an amount equal to 108.625% of the principal amount thereof, plus accrued and unpaid interest, if any, to the date of purchase.

​

Accounts Receivable Securitization

​

Certain direct and indirect wholly owned subsidiaries of our Intermediate Partnership are party to a $75.0 million accounts receivable securitization facility (“Securitization Facility”) which matures in January 2026. Under the Securitization Facility, certain subsidiaries sell certain trade receivables on an ongoing basis to our Intermediate Partnership, which then sells the trade receivables to AROP Funding, LLC (“AROP Funding”), a wholly owned bankruptcy-remote special purpose subsidiary of our Intermediate Partnership, which in turn borrows on a revolving basis up to $75.0 million secured by the trade receivables. After the sale, Alliance Coal, as servicer of the assets, collects the receivables on behalf of AROP Funding. The Securitization Facility bears interest based on a short-term bank yield index. On June 30, 2025, we had $14.8 million of letters of credit outstanding with $60.2 million available for borrowing under the Securitization Facility. The agreement governing the Securitization Facility contains customary terms and conditions, including limitations with regards to certain customer credit ratings.

​

February 2024 Equipment Financing

​

On February 28, 2024, Alliance Coal entered into an equipment financing arrangement accounted for as debt, wherein Alliance Coal received $54.6 million in exchange for conveying its interest in certain equipment owned indirectly by Alliance Coal and entering into a master lease agreement for that equipment (the “February 2024 Equipment Financing”). The February 2024 Equipment Financing contains customary terms and events of default and provides for forty-eight monthly payments with an implicit interest rate of 8.29%, maturing on February 28, 2028. Upon maturity, the equipment will revert to Alliance Coal.
v3.25.2
Workers' Compensation And Pneumoconiosis
 6 Months Ended
Jun. 30, 2025
Workers' Compensation And Pneumoconiosis Disclosure [Abstract]  
Workers' Compensation And Pneumoconiosis

9.WORKERS’ COMPENSATION AND PNEUMOCONIOSIS

​

The changes in the workers’ compensation liability, including current and long-term liability balances, for each of the periods presented were as follows:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

    

Three Months Ended

​

Six Months Ended

 

​

​

June 30, 

​

June 30, 

​

​

​

2025

    

2024

    

2025

    

2024

​

​

​

(in thousands)

​

Beginning balance

​

$

48,511

​

$

47,561

​

$

47,870

​

$

47,975

​

Changes in accruals

​

 

3,419

​

 

3,365

​

 

6,795

​

 

6,490

​

Payments

​

 

(3,762)

​

 

(3,446)

​

 

(7,064)

​

 

(7,494)

​

Interest accretion

​

 

570

​

 

509

​

 

1,137

​

 

1,018

​

Valuation loss (gain) (1)

​

 

496

​

​

(795)

​

 

496

​

​

(795)

​

Ending balance

​

$

49,234

​

$

47,194

​

$

49,234

​

$

47,194

​

(1)Our estimate of the liability for the present value of current workers′ compensation benefits is based on our actuarial calculations.  Our actuarial calculations are based on a blend of actuarial projection methods and numerous assumptions including claims development patterns, mortality, medical costs and interest rates.  The valuation loss in 2025 is due to a decrease in the discount rate from 5.17% on December 31, 2024 to 4.92% on June 30, 2025. The valuation gain in 2024 is due to an increase in the discount rate from 4.66% on December 31, 2023 to 5.18% on June 30, 2024.  

​

We limit our exposure to traumatic injury claims by purchasing a high deductible insurance policy that starts paying benefits after deductibles for a claim have been met.  The deductible level may vary by claim year.  Our workers’ compensation liability above is presented on a gross basis and does not include our expected receivables from our insurance policy.  Our receivables for traumatic injury claims under this policy as of June 30, 2025 are $3.7 million and are included in Other long-term assets on our condensed consolidated balance sheet.

​

Certain of our mine operating entities are liable under state statutes and the Federal Coal Mine Health and Safety Act of 1969, as amended, to pay pneumoconiosis, or black lung, benefits to eligible employees and former employees and their dependents.  Components of the net periodic benefit cost for each of the periods presented are as follows:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

    

Three Months Ended

​

Six Months Ended

​

​

​

June 30, 

​

June 30, 

​

​

​

2025

    

2024

    

2025

    

2024

 

​

​

(in thousands)

​

Service cost

​

$

889

​

$

858

​

$

1,748

​

$

1,719

 

Interest cost (1)

​

 

1,686

​

 

1,558

​

 

3,352

​

 

3,116

​

Net amortization (1)

​

 

232

​

 

839

​

 

464

​

 

1,678

​

Net periodic benefit cost

​

$

2,807

​

$

3,255

​

$

5,564

​

$

6,513

​

(1)Interest cost and net amortization are included in the Other income (expense) line item within our condensed consolidated statements of income.
v3.25.2
Components of Pension Plan Net Periodic Benefit Costs
 6 Months Ended
Jun. 30, 2025
Retirement Benefits [Abstract]  
Components of Pension Plan Net Periodic Benefit Costs

10.COMPONENTS OF PENSION PLAN NET PERIODIC BENEFIT COSTS

​

Eligible employees at certain of our mining operations participate in a defined benefit plan (the “Pension Plan”) that we sponsor. The Pension Plan is currently closed to new applicants and participants in the Pension Plan are no longer

receiving benefit accruals for service. The benefit formula for the Pension Plan is a fixed dollar unit based on years of service. Components of the net periodic benefit credit for each of the periods presented are as follows:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

    

Three Months Ended

​

Six Months Ended

​

​

​

June 30, 

​

June 30, 

​

​

​

2025

    

2024

    

2025

    

2024

    

​

​

(in thousands)

​

Interest cost

​

$

1,310

​

$

1,269

​

$

2,620

​

$

2,528

​

Expected return on plan assets

​

 

(1,709)

​

 

(1,761)

​

 

(3,418)

​

 

(3,526)

​

Amortization of prior service cost

​

​

2

​

​

46

​

​

5

​

​

93

​

Amortization of net loss

​

 

—

​

 

72

​

 

—

​

 

109

​

Net periodic benefit credit (1)

​

$

(397)

​

$

(374)

​

$

(793)

​

$

(796)

​

(1)Net periodic benefit credit for the Pension Plan is included in the Other income (expense) line item within our condensed consolidated statements of income.

​

We do not expect to make material contributions to the Pension Plan during 2025.
v3.25.2
Contingencies
 6 Months Ended
Jun. 30, 2025
Commitments and Contingencies Disclosure [Abstract]  
Contingencies

11.CONTINGENCIES

​

Certain of our subsidiaries are party to litigation in which the plaintiffs allege violations of the Fair Labor Standards Act and state law due to alleged failure to compensate for time “donning” and “doffing” equipment and to account for certain bonuses in the calculation of overtime rates and pay. The plaintiffs in these cases sought class and collective action certification, which we opposed. In April 2024, we entered into a settlement agreement with the plaintiffs pursuant to which we agreed to settle such litigation for $15.3 million. Following preliminary approval of the settlement on July 10, 2025, we paid $15.3 million into an escrow account. A hearing in which the court will consider final approval of the settlement is scheduled for the fourth quarter of 2025. We believe our ultimate exposure, if any should litigation resume, will not be material to our results of operations or financial position; however, if our current belief as to the merit of the claims is not upheld if litigation were to resume, it is reasonably possible that the ultimate resolution of these matters could result in a potential loss that may be material to our results of operations.

​

We also have various other lawsuits, claims and regulatory proceedings incidental to our business that are pending against the ARLP Partnership. We record an accrual for a potential loss related to these matters when, in management’s opinion, such loss is probable and reasonably estimable. Based on known facts and circumstances, we believe the ultimate outcome of these outstanding lawsuits, claims and regulatory proceedings will not have a material adverse effect on our financial condition, results of operations or liquidity. However, if the results of these matters are different from management’s current expectations and in amounts greater than our accruals, such matters could have a material adverse effect on our business and operations.
v3.25.2
Partners' Capital
 6 Months Ended
Jun. 30, 2025
Partners' Capital Notes [Abstract]  
Partners' Capital

12.PARTNERS’ CAPITAL

​

Distributions

​

Distributions paid or declared during 2024 and 2025 were as follows:

​

​

​

​

​

​

​

​

​

Payment Date

    

Per Unit Cash Distribution

 

Total Cash Distribution

 

​

​

​

​

​

(in thousands)

​

​

​

​

​

​

​

​

​

February 14, 2024

​

$

0.70

​

$

91,246

​

May 15, 2024

​

​

0.70

​

​

90,736

​

August 14, 2024

​

​

0.70

​

​

90,725

​

November 14, 2024

​

​

0.70

​

​

90,723

​

Total

​

$

2.80

​

$

363,430

​

​

​

​

​

​

​

​

​

February 14, 2025

​

$

0.70

​

$

90,891

​

May 15, 2025

​

​

0.70

​

​

90,739

​

August 14, 2025 (1)

​

​

0.60

​

​

​

​

Total

​

$

2.00

​

$

181,630

​

​

(1)On July 28, 2025, we declared this quarterly distribution payable on August 14, 2025 to all unitholders of record as of August 7, 2025.

​

Change in Partners’ Capital

​

The following tables present the quarterly change in Partners' Capital for the three and six months ended June 30, 2025 and 2024:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Accumulated

​

​

​

​

​

​

​

​

​

Number of

​

Limited 

​

Other

​

​

​

​

​

​

​

​

​

Limited Partner

​

Partners'

​

Comprehensive

​

Noncontrolling

​

Total Partners'

​

​

    

Units

    

Capital

    

Income (Loss)

    

Interest

    

 Capital

 

​

​

(in thousands, except unit data)

​

Balance at January 1, 2025

 

128,061,981

​

$

1,867,850

​

$

(35,103)

​

$

20,786

​

$

1,853,533

​

Comprehensive income:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net income

 

—

​

 

73,983

​

 

—

​

​

1,577

 

 

75,560

​

Other comprehensive income

 

—

​

 

—

​

 

270

​

 

—

 

 

270

​

Total comprehensive income

 

​

​

​

​

​

​

​

​

​

​

 

​

75,830

​

Settlement of deferred compensation plans

​

366,043

​

​

(7,082)

​

​

—

​

​

—

​

​

(7,082)

​

Common unit-based compensation

 

—

​

 

1,964

​

​

—

​

​

—

​

​

1,964

​

Distributions on deferred common unit-based compensation

 

—

​

 

(1,247)

​

​

—

​

​

—

​

​

(1,247)

​

Distributions from consolidated company to noncontrolling interest

​

—

​

​

—

​

​

—

​

​

(1,894)

​

​

(1,894)

​

Distributions to Partners

 

—

​

​

(89,644)

​

​

—

​

​

—

​

​

(89,644)

​

Balance at March 31, 2025

​

128,428,024

​

​

1,845,824

​

​

(34,833)

​

​

20,469

​

​

1,831,460

​

Comprehensive income:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net income

 

—

​

 

59,410

​

 

—

​

​

1,615

 

 

61,025

​

Other comprehensive income

 

—

​

 

—

​

 

11,194

​

 

—

 

 

11,194

​

Total comprehensive income

 

​

​

​

​

​

​

​

​

​

​

 

​

72,219

​

Common unit-based compensation

 

—

​

 

2,281

​

​

—

​

​

—

​

​

2,281

​

Distributions on deferred common unit-based compensation

 

—

​

 

(841)

​

​

—

​

​

—

​

​

(841)

​

Distributions from consolidated company to noncontrolling interest

​

—

​

​

—

​

​

—

​

​

(2,731)

​

​

(2,731)

​

Distributions to Partners

 

—

​

​

(89,898)

​

​

—

​

​

—

​

​

(89,898)

​

Balance at June 30, 2025

​

128,428,024

​

$

1,816,776

​

$

(23,639)

​

$

19,353

​

$

1,812,490

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Accumulated

​

​

​

​

​

​

​

​

​

Number of

​

Limited 

​

Other

​

​

​

​

​

​

​

​

​

Limited Partner

​

Partners'

​

Comprehensive

​

Noncontrolling

​

Total Partners'

​

​

    

Units

    

Capital

    

Income (Loss)

    

Interest

    

 Capital

 

​

​

(in thousands, except unit data)

​

Balance at January 1, 2024

 

127,125,437

​

$

1,896,027

​

$

(61,525)

​

$

24,095

​

$

1,858,597

​

Cumulative-effect adjustment

​

—

​

​

6,232

​

​

—

​

​

—

​

​

6,232

​

Comprehensive income:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net income

 

—

​

 

158,057

​

 

—

​

​

1,510

 

 

159,567

​

Actuarially determined long-term liability adjustments

 

—

​

 

—

​

 

923

​

 

—

 

 

923

​

Total comprehensive income

 

​

​

​

​

​

​

​

​

​

​

 

​

160,490

​

Settlement of deferred compensation plans

​

936,544

​

​

(13,292)

​

​

—

​

​

—

​

​

(13,292)

​

Common unit-based compensation

 

—

​

 

2,604

​

​

—

​

​

—

​

​

2,604

​

Distributions on deferred common unit-based compensation

 

—

​

 

(2,261)

​

​

—

​

​

—

​

​

(2,261)

​

Distributions from consolidated company to noncontrolling interest

​

—

​

​

—

​

​

—

​

​

(1,981)

​

​

(1,981)

​

Distributions to Partners

 

—

​

​

(88,985)

​

​

—

​

​

—

​

​

(88,985)

​

Balance at March 31, 2024

 

128,061,981

​

​

1,958,382

​

​

(60,602)

​

​

23,624

​

​

1,921,404

​

Comprehensive income:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net income

 

—

​

 

100,187

​

 

—

​

​

1,322

 

 

101,509

​

Actuarially determined long-term liability adjustments

 

—

​

 

—

​

 

957

​

 

—

 

 

957

​

Total comprehensive income

 

​

​

​

​

​

​

​

​

​

​

 

​

102,466

​

Common unit-based compensation

 

—

​

 

2,926

​

​

—

​

​

—

​

​

2,926

​

Distributions on deferred common unit-based compensation

 

—

​

 

(1,091)

​

​

—

​

​

—

​

​

(1,091)

​

Distributions from consolidated company to noncontrolling interest

​

—

​

​

—

​

​

—

​

​

(1,942)

​

​

(1,942)

​

Distributions to Partners

 

—

​

​

(89,645)

​

​

—

​

​

—

​

​

(89,645)

​

Balance at June 30, 2024

 

128,061,981

​

$

1,970,759

​

$

(59,645)

​

$

23,004

​

$

1,934,118

​

​
v3.25.2
Common Unit-Based Compensation Plan
 6 Months Ended
Jun. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Common Unit-Based Compensation Plan

13.COMMON UNIT-BASED COMPENSATION PLAN

​

Long-Term Incentive Plan

​

A summary of non-vested Long-Term Incentive Plan (“LTIP”) grants of restricted units is as follows:

​

​

​

​

​

​

​

​

​

​

​

​

    

Number of units

 

Weighted average grant date fair value per unit

 

Intrinsic value

 

​

​

​

​

​

​

​

(in thousands)

​

​

​

​

​

​

​

​

​

​

​

Non-vested grants at January 1, 2025

​

1,458,564

​

$

17.60

​

$

38,346

​

Granted (1)

 

376,853

​

​

26.92

​

​

​

​

Vested (2)

 

(625,649)

​

 

13.62

​

​

​

​

Forfeited

 

(11,528)

​

 

20.85

​

​

​

​

Non-vested grants at June 30, 2025

 

1,198,240

​

 

22.58

​

​

31,322

​

(1)The restricted units granted during 2025 have certain minimum-value guarantees per unit, regardless of whether the awards vest.
(2)During the six months ended June 30, 2025, we issued 366,043 unrestricted common units to the LTIP participants.  The remaining vested units were withheld to satisfy tax withholdings.

​

LTIP expense for grants of restricted units was $2.3 million for each of the three months ended June 30, 2025 and 2024 and $4.2 million and $4.4 million for the six months ended June 30, 2025 and 2024, respectively. The total obligation associated with LTIP grants of restricted units as of June 30, 2025 was $12.6 million and is included in the partners’ capital Limited partners-common unitholders line item on our condensed consolidated balance sheets.  As of June 30, 2025, there was $14.5 million in total unrecognized compensation expense related to the non-vested LTIP restricted unit grants that are expected to vest.  That expense is expected to be recognized over a weighted-average period of 1.5 years.
v3.25.2
Revenue from Contracts with Customers
 6 Months Ended
Jun. 30, 2025
Revenue from Contract with Customer [Abstract]  
Revenue from Contracts with Customer

14.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 17 – Segment Information.

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

    

Coal Operations

​

Royalties

​

Other,

​

​

​

​

​

​

Illinois

    

​

    

​

​

​

    

Corporate and

    

​

​

​

​

    

Basin

    

Appalachia

    

Oil & Gas

    

Coal

    

Elimination

    

Consolidated

​

​

​

(in thousands)

​

Three Months Ended June 30, 2025

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Coal sales

​

$

343,841

​

$

141,628

​

$

—

​

$

—

​

$

—

​

$

485,469

​

Oil & gas royalties

​

​

—

​

​

—

​

​

35,473

​

​

—

​

​

—

​

​

35,473

​

Coal royalties

​

​

—

​

​

—

​

​

—

​

​

17,612

​

​

(17,612)

​

​

—

​

Transportation revenues

​

​

4,829

​

​

3,729

​

​

—

​

​

—

​

​

—

​

​

8,558

​

Other revenues

​

​

1,577

​

​

626

​

​

28

​

​

—

​

​

15,732

​

​

17,963

​

Total revenues

​

$

350,247

​

$

145,983

​

$

35,501

​

$

17,612

​

$

(1,880)

​

$

547,463

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended June 30, 2024

​

​

​

 

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Coal sales

​

$

331,973

​

$

180,686

​

$

—

​

$

—

​

$

—

​

$

512,659

​

Oil & gas royalties

​

​

—

​

​

—

​

​

36,429

​

​

—

​

​

—

​

​

36,429

​

Coal royalties

​

​

—

​

​

—

​

​

—

​

​

16,584

​

​

(16,584)

​

​

—

​

Transportation revenues

​

​

20,570

​

​

6,131

​

​

—

​

​

—

​

​

—

​

​

26,701

​

Other revenues

​

​

2,218

​

​

1,395

​

​

8

​

​

3

​

​

13,937

​

​

17,561

​

Total revenues

​

$

354,761

​

$

188,212

​

$

36,437

​

$

16,587

​

$

(2,647)

​

$

593,350

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Six Months Ended June 30, 2025

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Coal sales

​

$

677,075

​

$

276,905

​

$

—

​

$

—

​

$

—

​

$

953,980

​

Oil & gas royalties

​

​

—

​

​

—

​

​

71,557

​

​

—

​

​

—

​

​

71,557

​

Coal royalties

​

​

—

​

​

—

​

​

—

​

​

33,407

​

​

(33,407)

​

​

—

​

Transportation revenues

​

​

11,692

​

​

7,066

​

​

—

​

​

—

​

​

—

​

​

18,758

​

Other revenues

​

​

4,475

​

​

1,508

​

​

857

​

​

—

​

​

36,796

​

​

43,636

​

Total revenues

​

$

693,242

​

$

285,479

​

$

72,414

​

$

33,407

​

$

3,389

​

$

1,087,931

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Six Months Ended June 30, 2024

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

 

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Coal sales

​

$

702,603

​

$

371,935

​

$

—

​

$

—

​

$

—

​

$

1,074,538

​

Oil & gas royalties

​

​

—

​

​

—

​

​

73,459

​

​

—

​

​

—

​

​

73,459

​

Coal royalties

​

​

—

​

​

—

​

​

—

​

​

35,286

​

​

(35,286)

​

​

—

​

Transportation revenues

​

​

45,046

​

​

12,408

​

​

—

​

​

—

​

​

—

​

​

57,454

​

Other revenues

​

​

4,953

​

​

1,883

​

​

323

​

​

9

​

​

32,428

​

​

39,596

​

Total revenues

​

$

752,602

​

$

386,226

​

$

73,782

​

$

35,295

​

$

(2,858)

​

$

1,245,047

​

​

The following table illustrates the beginning and ending balances of our trade receivables:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

    

Three Months Ended

​

Six Months Ended

​

​

​

June 30, 

​

June 30, 

​

​

​

2025

    

2024

    

2025

    

2024

 

​

​

​

​

​

​

​

​

(in thousands)

​

Beginning balance

​

$

177,467

​

$

272,191

​

$

166,829

​

$

282,622

 

Ending balance

​

$

177,659

​

$

226,436

​

$

177,659

​

$

226,436

​

​

The following table illustrates the amount of our transaction price for all current coal supply contracts allocated to performance obligations that are unsatisfied or partially unsatisfied as of June 30, 2025 and disaggregated by segment and contract duration.

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

2028 and

​

​

​

    

2025

    

2026

    

2027

    

Thereafter

    

Total

​

​

(in thousands)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Illinois Basin Coal Operations coal revenues

​

$

609,685

​

$

1,036,588

​

$

653,033

​

$

739,113

​

$

3,038,419

Appalachia Coal Operations coal revenues

​

​

350,752

​

​

135,861

​

​

62,005

​

​

27,000

​

​

575,618

Total coal revenues (1)

​

$

960,437

​

$

1,172,449

​

$

715,038

​

$

766,113

​

$

3,614,037

(1) Coal revenues generally consists of consolidated revenues excluding our Oil & Gas Royalties segment as well as intercompany revenues from our Coal Royalties segment.
v3.25.2
Income Taxes
 6 Months Ended
Jun. 30, 2025
Income Tax Disclosure [Abstract]  
Income Taxes

15.INCOME TAXES

​

Components of income tax expense are as follows:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended

​

Six Months Ended

​

​

​

June 30, 

​

June 30, 

​

​

​

2025

    

2024

    

2025

    

2024

    

​

​

(in thousands)

​

Current:

​

​

​

​

​

​

​

​

​

​

​

​

​

Federal

​

$

4,340

​

$

4,506

​

$

9,063

​

$

9,224

​

State

​

 

285

​

 

317

​

 

605

​

 

655

​

​

​

 

4,625

​

 

4,823

​

 

9,668

​

 

9,879

​

Deferred:

​

​

​

​

​

​

​

​

​

​

​

​

​

Federal

​

 

593

​

 

(839)

​

 

(184)

​

 

(966)

​

State

​

 

130

​

 

(124)

​

 

46

​

 

(104)

​

​

​

 

723

​

 

(963)

​

 

(138)

​

 

(1,070)

​

Income tax expense

​

$

5,348

​

$

3,860

​

$

9,530

​

$

8,809

​

​

The effective income tax rates for our income tax expense for the three and six months ended June 30, 2025 and 2024 are less than the federal statutory rate, primarily due to the portion of income not subject to income taxes.

​

Our 2020 through 2024 tax years remain open to examination by tax authorities, and lower-tier partnership income tax returns for the tax years ended December 31, 2020 and 2021 are being audited by the Internal Revenue Service.
v3.25.2
Earnings per Limited Partner Unit
 6 Months Ended
Jun. 30, 2025
Earnings Per Share [Abstract]  
Earnings per Limited Partner Unit

16.EARNINGS PER LIMITED PARTNER UNIT

​

We utilize the two-class method in calculating basic and diluted earnings per limited partner unit (“EPU”). Net income attributable to ARLP is allocated to limited partners and participating securities with nonforfeitable distributions or distribution equivalents, while net losses attributable to ARLP are allocated only to limited partners but not to participating securities. During 2025, our participating securities represent outstanding restricted unit awards under our LTIP. During 2024, our participating securities also included phantom units in notional accounts under our Supplemental Executive Retirement Plan (“SERP”) and the MGP Amended and Restated Deferred Compensation Plan for Directors (“Directors’ Deferred Compensation Plan”). The SERP and Directors’ Deferred Compensation Plan were terminated and settled in December 2024 and no longer have participating securities that receive an allocation of income.

​

The following is a reconciliation of net income attributable to ARLP used for calculating basic and diluted earnings per unit and the weighted-average units used in computing EPU:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended

​

Six Months Ended

​

​

​

June 30, 

​

June 30, 

​

​

    

2025

    

2024

    

2025

    

2024

    

​

​

(in thousands, except per unit data)

​

Net income attributable to ARLP

​

$

59,410

​

$

100,187

​

$

133,393

​

$

258,244

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Less:

​

​

​

​

​

​

​

​

​

​

​

​

​

Distributions to participating securities

​

 

(719)

​

 

(1,688)

​

 

(1,545)

​

 

(3,368)

​

Undistributed earnings attributable to participating securities

​

 

—

​

 

(164)

​

 

—

​

 

(1,518)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net income attributable to ARLP available to limited partners

​

$

58,691

​

$

98,335

​

$

131,848

​

$

253,358

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Weighted-average limited partner units outstanding – basic and diluted

​

 

128,428

​

 

128,062

​

 

128,347

​

 

127,866

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Earnings per limited partner unit - basic and diluted (1)

​

$

0.46

​

$

0.77

​

$

1.03

​

$

1.98

​

(1)Diluted EPU gives effect to all potentially dilutive common units outstanding during the period using the treasury stock method. Diluted EPU excludes all potentially dilutive units calculated under the treasury stock method if their effect is anti-dilutive. For the three and six months ended June 30, 2025, participating securities of 605 and 715, respectively, were considered anti-dilutive under the treasury stock method. For the three and six months ended June 30, 2024, participating securities of 1,726 and 1,945, respectively, were considered anti-dilutive under the treasury stock method.
v3.25.2
Segment Information
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Segment Information

17.SEGMENT INFORMATION

​

We operate in the United States as a diversified natural resource company that generates operating and royalty income from the production and marketing of coal to major domestic utilities, industrial users and international customers as well as royalty income from oil & gas mineral interests. We aggregate multiple operating segments into four reportable segments, Illinois Basin Coal Operations, Appalachia Coal Operations, Oil & Gas Royalties and Coal Royalties. We also have an “all other” category referred to as Other, Corporate and Elimination. Our two coal operations reportable segments correspond to major coal producing regions in the eastern United States with similar economic characteristics including coal quality, geology, coal marketing opportunities, mining and transportation methods and regulatory issues. The two coal operations reportable segments include seven mining complexes operating in Illinois, Indiana, Kentucky, Maryland, Pennsylvania, and West Virginia and a coal loading terminal in Indiana on the Ohio River. Our Oil & Gas Royalties reportable segment includes our oil & gas mineral interests which are located primarily in the Permian (Delaware and Midland), Anadarko (SCOOP/STACK) and Williston (Bakken) basins. The operations within our Oil & Gas Royalties reportable segment primarily include receiving royalties and lease bonuses for our oil & gas mineral interests. Our Coal Royalties reportable segment includes coal mineral reserves and resources owned or leased by Alliance Resource Properties, which are either (a) leased to our mining complexes or (b) near our coal mining operations but not yet leased.

​

The Illinois Basin Coal Operations reportable segment includes (a) the Gibson County Coal, LLC’s mining complex, (b) the Warrior Coal, LLC mining complex, (c) the River View mining complex, which includes the River View and Henderson County mines and (d) the Hamilton mining complex. The segment also includes our Mt. Vernon Transfer Terminal, LLC (“Mt. Vernon”) coal loading terminal in Indiana which operates on the Ohio River, Mid-America Carbonates, LLC and other support services, and our non-operating mining complexes.      

​

The Appalachia Coal Operations reportable segment includes (a) the Mettiki mining complex, (b) the Tunnel Ridge, LLC mining complex and (c) the MC Mining complex.

​

The Oil & Gas Royalties reportable segment includes oil & gas mineral interests held by Alliance Minerals through its consolidated subsidiaries as well as equity interests held in AllDale III (Note 3 – Variable Interest Entities).

​

The Coal Royalties reportable segment includes coal mineral reserves and resources owned or leased by Alliance Resource Properties that are (a) leased to certain of our mining complexes in both the Illinois Basin Coal Operations and Appalachia Coal Operations reportable segments or (b) located near our operations and external mining operations.

​

Other, Corporate and Elimination includes marketing and administrative activities, certain of our subsidiaries, primarily consisting of Matrix Design Group, LLC, its subsidiaries, and Alliance Design Group, LLC (collectively referred to as "Matrix Group"), Bitiki KY, LLC, which holds our crypto-mining activities (see Note 6 – Digital Assets), our non oil & gas equity investments (see Note 3 – Variable Interest Entities and Note 7 – Investments), Wildcat Insurance, LLC which assists the ARLP Partnership with its insurance requirements, AROP Funding and Alliance Finance (both discussed in Note 8 – Long-Term Debt). The eliminations included in Other, Corporate and Elimination primarily represent the intercompany coal royalty transactions described above between our Coal Royalties reportable segment and our coal operations’ mines.

​

Reportable segment results are presented below.

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

    

Coal Operations

​

Royalties

​

​

​

 

​

​

Illinois

    

​

    

​

​

​

    

​

​

​

​

    

Basin

    

Appalachia

    

Oil & Gas

    

Coal

    

Total

 

​

​

(in thousands)

 

Three Months Ended June 30, 2025

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Revenues - Outside

​

$

350,247

​

$

145,983

​

$

35,501

​

$

—

​

$

531,731

​

Revenues - Intercompany

​

​

—

​

​

—

​

​

—

​

​

17,612

​

​

17,612

​

Total revenues (1)

​

​

350,247

​

​

145,983

​

​

35,501

​

​

17,612

​

​

549,343

​

Less:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Segment Adjusted EBITDA Expense (2)

​

 

231,189

​

 

112,829

​

 

4,558

​

 

5,795

​

 

354,371

​

Transportation expenses

​

​

4,829

​

​

3,729

​

​

—

​

​

—

​

​

8,558

​

Other segment items (3)

​

​

—

​

​

—

​

​

1,060

​

​

—

​

​

1,060

​

Segment Adjusted EBITDA (4)

​

 

114,229

​

​

29,425

​

​

29,883

​

​

11,817

​

 

185,354

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Capital expenditures (6)

​

 

50,072

​

 

15,226

​

 

—

​

 

102

​

 

65,400

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended June 30, 2024

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

 

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Revenues - Outside

​

$

354,761

​

$

188,212

​

$

36,437

​

$

3

​

$

579,413

​

Revenues - Intercompany

​

​

—

​

​

—

​

​

—

​

​

16,584

​

​

16,584

​

Total revenues (1)

​

​

354,761

​

​

188,212

​

​

36,437

​

​

16,587

​

​

595,997

​

Less:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Segment Adjusted EBITDA Expense (2)

​

 

216,168

​

 

136,762

​

 

4,635

​

 

6,632

​

 

364,197

​

Transportation expenses

​

​

20,570

​

​

6,131

​

​

—

​

​

—

​

​

26,701

​

Other segment items (3)

​

​

—

​

​

—

​

​

544

​

​

—

​

​

544

​

Segment Adjusted EBITDA (4)

​

 

118,023

​

​

45,319

​

​

31,258

​

​

9,955

​

 

204,555

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Capital expenditures (6)

​

 

65,973

​

 

32,793

​

 

—

​

 

—

​

 

98,766

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Six Months Ended June 30, 2025

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Revenues - Outside

​

$

693,242

​

$

285,479

​

$

72,414

​

$

—

​

$

1,051,135

​

Revenues - Intercompany

​

​

—

​

​

—

​

​

—

​

​

33,407

​

​

33,407

​

Total revenues (1)

​

​

693,242

​

​

285,479

​

​

72,414

​

​

33,407

​

​

1,084,542

​

Less:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Segment Adjusted EBITDA Expense (2)

​

 

441,148

​

​

233,397

​

​

10,279

​

​

12,195

​

 

697,019

​

Transportation expenses

​

​

11,692

​

​

7,066

​

​

—

​

​

—

​

​

18,758

​

Other segment items (3)

​

​

—

​

​

—

​

​

2,368

​

​

—

​

​

2,368

​

Segment Adjusted EBITDA (4)

​

 

240,402

​

​

45,016

​

​

59,767

​

​

21,212

​

 

366,397

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Total assets (5)

​

 

1,076,634

​

​

472,142

​

​

847,300

​

​

308,959

​

 

2,705,035

​

Capital expenditures (6)

​

 

102,657

​

​

46,054

​

​

—

​

​

147

​

 

148,858

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Six Months Ended June 30, 2024

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

 

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Revenues - Outside

​

$

752,602

​

$

386,226

​

$

73,782

​

$

9

​

$

1,212,619

​

Revenues - Intercompany

​

​

—

​

​

—

​

​

—

​

​

35,286

​

​

35,286

​

Total revenues (1)

​

​

752,602

​

​

386,226

​

​

73,782

​

​

35,295

​

​

1,247,905

​

Less:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Segment Adjusted EBITDA Expense (2)

​

 

449,255

​

​

254,264

​

​

9,575

​

​

12,896

​

 

725,990

​

Transportation expenses

​

​

45,046

​

​

12,408

​

​

—

​

​

—

​

​

57,454

​

Other segment items (3)

​

​

—

​

​

—

​

​

1,547

​

​

—

​

​

1,547

​

Segment Adjusted EBITDA (4)

​

 

258,301

​

​

119,554

​

​

62,660

​

​

22,399

​

 

462,914

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Total assets (5)

​

 

1,011,972

​

​

552,796

​

​

793,416

​

​

316,505

​

 

2,674,689

​

Capital expenditures (6)

​

 

162,106

​

​

59,244

​

​

—

​

​

—

​

 

221,350

​

(1)The following is a reconciliation of our total segment revenues to total consolidated revenues:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

    

Three Months Ended

​

Six Months Ended

​

​

​

June 30, 

​

June 30, 

​

​

​

2025

    

2024

​

2025

    

2024

​

​

​

(in thousands)

​

Total segment revenues

​

$

549,343

​

$

595,997

​

$

1,084,542

​

$

1,247,905

​

Other, Corporate and Elimination revenues - Outside

​

​

15,732

​

​

13,937

​

​

36,796

​

​

32,428

​

Other, Corporate and Elimination revenues - Intercompany

​

​

(17,612)

​

​

(16,584)

​

​

(33,407)

​

​

(35,286)

​

Total consolidated revenues

​

$

547,463

​

$

593,350

​

$

1,087,931

​

$

1,245,047

​

​

Revenues included in Other, Corporate and Elimination are attributable to intercompany eliminations, which are primarily intercompany coal royalties eliminations, outside revenues at the Matrix Group and other outside miscellaneous sales and revenue activities.

​

(2)Segment Adjusted EBITDA Expense includes operating expenses, coal purchases, if applicable, and other income or expense as adjusted to remove certain items from operating expenses that we characterize as unrepresentative of our ongoing operations. Segment Adjusted EBITDA Expense is used as a financial measure by our management to assess the operating performance of our segments. Segment Adjusted EBITDA Expense is a key component of Segment Adjusted EBITDA in addition to coal sales, royalty revenues and other revenues. The exclusion of corporate general and administrative expenses from Segment Adjusted EBITDA Expense allows management to focus solely on the evaluation of segment operating performance as it primarily relates to our operating expenses.

​

(3)Other segment items include:

Oil & Gas Royalties – equity method investment income from AllDale III and income allocated to noncontrolling interest

​

(4)Segment Adjusted EBITDA is defined as net income attributable to ARLP before net interest expense, income taxes, depreciation, depletion and amortization and general and administrative expenses adjusted for certain items that we characterize as unrepresentative of our ongoing operations. Segment Adjusted EBITDA is used as a financial measure by Mr. Craft, who is also our chief operating decision maker (“CODM”), other management and by external users of our financial statements such as investors, commercial banks, research analysts and others. Our CODM uses Segment Adjusted EBITDA in assessing segment performance and deciding how to allocate resources. Segment Adjusted EBITDA provides useful information to our CODM and investors regarding our performance and results of operations because Segment Adjusted EBITDA (i) provides additional information about our core operating performance and ability to generate and distribute cash flow, (ii) provides investors with the financial analytical framework upon which we base financial, operational, compensation and planning decisions, (iii) presents a measurement that investors, rating agencies and debt holders have indicated is useful in assessing us and our results of operations and (iv) allows our CODM and management to focus solely on the evaluation of segment operating profitability as it relates to our revenues and operating expenses, which are primarily controlled by our segments.

​

The following is a reconciliation of total Segment Adjusted EBITDA for our segments to consolidated income before income taxes:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

    

Three Months Ended

​

Six Months Ended

​

​

​

June 30, 

​

June 30, 

​

​

​

2025

    

2024

 

2025

    

2024

 

​

​

(in thousands)

​

Segment Adjusted EBITDA – total segments

​

$

185,354

​

$

204,555

​

$

366,397

​

$

462,914

​

Other, Corporate and Elimination profit (loss)

​

​

(3,050)

​

 

(2,551)

​

​

(3,578)

​

 

(356)

​

General and administrative

​

​

(20,380)

​

 

(20,562)

​

 

(40,960)

​

 

(42,691)

​

Depreciation, depletion and amortization

​

​

(76,340)

​

 

(66,454)

​

 

(144,969)

​

 

(132,003)

​

Interest expense, net

​

​

(8,682)

​

 

(7,193)

​

 

(16,249)

​

 

(13,666)

​

Change in fair value of digital assets

​

​

12,856

​

​

(3,748)

​

​

7,282

​

​

8,105

​

Impairment loss on investments

​

​

(25,000)

​

​

—

​

​

(25,000)

​

​

—

​

Litigation expense accrual

​

 

—

​

​

—

​

​

—

​

 

(15,250)

​

Noncontrolling interest

​

​

1,615

​

​

1,322

​

​

3,192

​

​

2,832

​

Income before income taxes

​

$

66,373

​

$

105,369

​

$

146,115

​

$

269,885

​

​

Other, Corporate and Elimination profit (loss) represents profit (loss) from operating segments below the quantitative thresholds when determining our reportable segments as well as the elimination of intersegment profit (loss) between our reportable segments. The operating segments included are those described as part of our Other, Corporate and Eliminations category.

​

(5)The following is a reconciliation of our total segment assets to total consolidated assets:

​

​

​

​

​

​

​

​

​

​

​

June 30, 

​

​

​

2025

    

2024

​

​

​

(in thousands)

​

Total segment assets

​

$

2,705,035

​

$

2,674,689

​

Other, Corporate and Elimination total assets

​

​

164,411

​

​

378,257

​

Total consolidated assets

​

$

2,869,446

​

$

3,052,946

​

​

(6)Capital expenditures excludes $2.7 million paid towards oil & gas reserve acquisitions for the six months ended June 30, 2025 and $2.9 million and $4.7 million paid towards oil & gas reserve acquisitions for the three and six months ended June 30, 2024, respectively.

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

    

Three Months Ended

​

Six Months Ended

​

​

​

June 30, 

​

June 30, 

​

​

​

2025

    

2024

​

2025

    

2024

​

​

​

(in thousands)

​

Total segment capital expenditures

​

$

65,400

​

$

98,766

​

$

148,858

​

$

221,350

​

Other, Corporate and Elimination capital expenditures

​

​

1,617

​

​

2,676

​

​

4,935

​

​

3,938

​

Total consolidated capital expenditures

​

$

67,017

​

$

101,442

​

$

153,793

​

$

225,288

​

​
v3.25.2
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Pay vs Performance Disclosure        
Net Income (Loss) $ 59,410 $ 100,187 $ 133,393 $ 258,244
v3.25.2
Insider Trading Arrangements
 3 Months Ended
Jun. 30, 2025
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.2
Organization and Presentation (Policies)
 6 Months Ended
Jun. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Consolidation

Significant Relationships Referenced in Notes to Condensed Consolidated Financial Statements

​

●References to “we,” “us,” “our” or “ARLP Partnership” mean the business and operations of Alliance Resource Partners, L.P., the parent company, as well as its consolidated subsidiaries.
●References to “ARLP” mean Alliance Resource Partners, L.P., individually as the parent company, and not on a consolidated basis.
●References to “MGP” mean Alliance Resource Management GP, LLC, ARLP’s general partner.  
●References to “Mr. Craft” mean Joseph W. Craft III, the Chairman, President and Chief Executive Officer of MGP.
●References to “Intermediate Partnership” mean Alliance Resource Operating Partners, L.P., the intermediate partnership of Alliance Resource Partners, L.P.
●References to “Alliance Coal” mean Alliance Coal, LLC, an indirect wholly owned subsidiary of ARLP.
●References to “Alliance Minerals” mean Alliance Minerals, LLC, an indirect wholly owned subsidiary of ARLP.
●References to “Alliance Resource Properties” mean Alliance Resource Properties, LLC, an indirect wholly owned subsidiary of ARLP.

​

Organization

​

ARLP is a Delaware limited partnership listed on the NASDAQ Global Select Market under the ticker symbol “ARLP.” ARLP was formed in May 1999 and completed its initial public offering on August 19, 1999 when it acquired substantially all of the coal production and marketing assets of Alliance Resource Holdings, Inc., a Delaware corporation, and its subsidiaries. We are managed by our general partner, MGP, a Delaware limited liability company which holds a non-economic general partner interest in ARLP.
Basis of Presentation

Basis of Presentation

​

The accompanying condensed consolidated financial statements include the accounts and operations of the ARLP Partnership and present our financial position as of June 30, 2025 and December 31, 2024, the results of our operations and comprehensive income for the three and six months ended June 30, 2025 and 2024 and cash flows for the six months ended June 30, 2025 and 2024. All intercompany transactions and accounts have been eliminated.

​

These condensed consolidated financial statements and notes are prepared pursuant to the rules and regulations of the Securities and Exchange Commission for interim reporting and do not include all the information normally included with financial statements prepared in accordance with generally accepted accounting principles (“GAAP”) of the United States. These financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2024.

​

These condensed consolidated financial statements and notes are unaudited. However, in the opinion of management, these condensed consolidated financial statements reflect all normal recurring adjustments necessary for a fair presentation of the results for the periods presented. Results for interim periods are not necessarily indicative of results to be expected for the full year ending December 31, 2025.

Use of Estimates

Use of Estimates

​

The preparation of the ARLP Partnership’s condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts and disclosures in our condensed consolidated financial statements. Actual results could differ from those estimates.

Investments

Investments

​

Our investments and ownership interests in equity securities without readily determinable fair values in entities in which we do not have a controlling financial interest or significant influence are accounted for using a measurement alternative other than fair value. The measurement alternative is historical cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments of the same entity. Distributions received on those investments are recorded as income unless those distributions are considered a return on investment, in which case the historical cost is reduced. We account for our ownership interests in Infinitum Electric, Inc. (“Infinitum”) and Ascend Elements, Inc. (“Ascend”) as equity securities without readily determinable fair values. See Note 7 –Investments for further discussion of these investments.  

​

Our investments and ownership interests in entities in which we do not have a controlling financial interest are accounted for under the equity method of accounting if we have the ability to exercise significant influence over the entity. Investments accounted for under the equity method are initially recorded at cost, and the difference between the basis of our investment and the underlying equity in the net assets of the entity at the investment date, if any, is amortized over the lives of the related assets that gave rise to the difference.

​

In the event our ownership requires a disproportionate sharing of income or loss, we use the hypothetical liquidation at book value (“HLBV”) method to determine the appropriate allocation of income or loss. Under the HLBV method, income or loss of the investee is allocated based on hypothetical amounts that each investor would be entitled to receive if the net assets held were liquidated at book value at the end of each period, adjusted for any contributions made and distributions received during the period.

​

We hold equity method investments in AllDale Minerals III, LP (“AllDale III”) and NGP Energy Transition, L.P. (“NGP ET IV”). See Note 3 – Variable Interest Entities for further discussion of our equity method investments.

​

We review our investments for impairment whenever events or changes in circumstances indicate a loss in the value of the investment may be other-than-temporary.

​

Our investments in debt securities classified as available-for-sale are reported at fair value with unrealized gains and losses included in other comprehensive income in partners’ capital. Credit losses, if any, are recorded as an expense. Upon maturity or conversion, any associated unrealized gain or loss will be reclassified from other comprehensive income to our condensed consolidated income statement as a realized gain or loss. We hold debt securities in Ascend. See Note 7 – Investments for further discussion of this investment.

New Accounting Standards Issued and Not Yet Adopted

New Accounting Standards Issued and Not Yet Adopted

​

In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (“ASU 2023-09”). ASU 2023-09 primarily requires enhanced disclosures to (1) disclose specific categories in the rate reconciliation, (2) disclose the amount of income taxes paid and expensed disaggregated by federal, state, and foreign taxes, with further disaggregation by individual jurisdictions if certain criteria are met, and (3) disclose income (loss) from continuing operations before income tax (benefit) disaggregated between domestic and foreign. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. We do not expect ASU 2023-09 to have a material effect on our results of operations, cash flows and financial condition but will result in the enhanced disclosures described above.

​

In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40) (“ASU 2024-03”). ASU 2024-03 requires the disclosure of additional information about specific expense categories in the notes to the financial statements to provide enhanced transparency into the nature and function of expenses. ASU 2024-03 is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027, with early adoption permitted. We

continue to evaluate the impact of ASU 2024-03 on our results of operations, cash flows, financial condition and related disclosures.
v3.25.2
Variable Interest Entities (Tables)
 6 Months Ended
Jun. 30, 2025
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures [Abstract]  
Schedule of assets and liabilities

​

​

​

​

​

​

​

​

​

​

​

June 30, 

​

December 31, 

​

​

​

2025

    

2024

​

Assets (liabilities):

    

(in thousands)

 

Cash and cash equivalents

​

$

4,313

​

$

5,154

​

Trade receivables

​

 

12,271

​

 

11,209

​

Total property, plant and equipment, net

​

 

364,734

​

 

373,093

​

Accounts payable

​

​

(217)

​

​

(221)

​

Due to affiliates

​

 

(25)

​

​

—

​

Accrued taxes other than income taxes

​

 

(649)

​

​

(870)

​
v3.25.2
Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2025
Fair Value Disclosures [Abstract]  
Schedule of fair value measurements hierarchy

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Fair Value

​

​

 

Carrying
Value

    

Level 1

    

Level 2

    

Level 3

    

​

​

(in thousands)

​

June 30, 2025

​

​

​

​

​

​

​

​

​

​

​

​

​

Recorded on a recurring basis:

​

​

​

​

​

​

​

​

​

​

​

​

​

Digital assets

​

$

58,030

​

$

58,030

​

$

—

​

$

—

​

Contingent consideration

​

$

10,677

​

$

—

​

$

—

​

$

10,677

​

Debt securities

​

$

13,046

​

$

—

​

$

—

​

$

13,046

​

Additional disclosures:

​

​

​

​

​

​

​

​

​

​

​

​

​

Long-term debt

​

$

477,054

​

$

—

​

$

510,517

​

$

—

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31, 2024

​

​

​

​

​

​

​

​

​

​

​

​

​

Recorded on a recurring basis:

​

​

​

​

​

​

​

​

​

​

​

​

​

Digital assets

​

$

45,037

​

$

45,037

​

$

—

​

$

—

​

Contingent consideration

​

$

13,100

​

$

—

​

$

—

​

$

13,100

​

Additional disclosures:

​

​

​

​

​

​

​

​

​

​

​

​

​

Long-term debt

​

$

490,387

​

$

—

​

$

523,461

​

$

—

​
Schedule of fair value measurements inputs

​

​

​

​

​

​

​

​

​

​

 

Valuation Technique(s)

 

Unobservable Input

 

Range/Amount
(Average) (a)

​

​

​

​

​

​

​

​

​

June 30, 2025

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Contingent Consideration

​

Option approach methodology simulation

​

Cost of Debt

​

6.51% - 8.56%

​

​

​

​

​

Coal price volatility

​

6.2%

​

​

​

​

​

Market price of risk adjustment (annual)

​

6.2%

​

December 31, 2024

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Contingent Consideration

​

Option approach methodology simulation

​

Cost of Debt

​

6.51% - 8.56%

​

​

​

​

​

Coal price volatility

​

6.2%

​

​

​

​

​

Market price of risk adjustment (annual)

​

6.2%

​

​

​

​

​

​

​

​

​

(a) Averages represent the arithmetic average of the inputs and is not weighted by a relative fair value or notional amount

​

​

​

​

​

​

​

​

​

​

​

 

Valuation Technique(s)

 

Unobservable Input

 

Range/Amount
(Average) (a)

​

​

​

​

​

​

​

​

​

June 30, 2025

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Debt securities

​

Option-pricing approach methodology

​

Industry volatility

​

29.10% - 70.86% (49.98%)

​

​

​

​

​

Estimated time to exit

​

2.0 - 4.0 (3.0) years

​

​

​

Income approach methodology

​

Forecasted future cash flow

​

$906.6 - $1,285.9 ($1,096.3) million

​

​

​

​

​

Cost of capital

​

11.25% - 16.58% (13.92%)

​

​

​

​

​

​

​

​

​

(a) Averages represent the arithmetic average of the inputs and is not weighted by a relative fair value or notional amount

​
Schedule of changes in our contingent consideration liability

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended

​

Six Months Ended

​

​

​

June 30, 

​

June 30, 

​

​

    

2025

    

2024

    

2025

​

2024

 

​

​

(in thousands)

​

Beginning balance

​

$

11,324

​

$

8,469

​

$

13,100

​

$

9,900

​

Noncash changes in fair value (1)

​

​

2,005

​

​

—

​

​

2,005

​

​

—

​

Payments

​

​

(2,652)

​

​

(2,380)

​

​

(4,428)

​

​

(3,811)

​

Ending balance

​

$

10,677

​

$

6,089

​

$

10,677

​

$

6,089

​

(1)Noncash changes in the fair value of our continent consideration liability are included in the Operating expenses (excluding depreciation, depletion and amortization) line item within our condensed consolidated statements of income.
Schedule of changes in our debt securities

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended

​

Six Months Ended

​

​

​

June 30, 

​

June 30, 

​

​

    

2025

    

2025

 

​

​

(in thousands)

​

Beginning balance

​

$

—

​

$

—

​

Noncash changes in fair value (1)

​

​

10,919

​

​

10,919

​

Payments

​

​

2,127

​

​

2,127

​

Ending balance

​

$

13,046

​

$

13,046

​

(1)Noncash changes in the fair value of our debt securities are included in the Change in unrealized gains (losses) on debt securities line item within our condensed consolidated statements of comprehensive income.
v3.25.2
Inventories (Tables)
 6 Months Ended
Jun. 30, 2025
Business Combination [Abstract]  
Schedule of inventories

​

​

​

​

​

​

​

​

​

​

​

June 30, 

​

December 31, 

​

​

​

2025

    

2024

 

​

​

(in thousands)

​

Coal

​

$

55,171

​

$

37,290

​

Finished goods (net of reserve for obsolescence of $2,366 and $2,481, respectively)

​

​

14,586

​

​

14,197

​

Work in process

​

​

1,778

​

​

1,560

​

Raw materials

​

​

6,975

​

​

7,192

​

​

​

​

78,510

​

​

60,239

​

Supplies (net of reserve for obsolescence of $7,152 and $6,409, respectively)

​

 

60,202

​

 

60,422

​

Total inventories, net

​

$

138,712

​

$

120,661

​
v3.25.2
Digital Assets (Tables)
 6 Months Ended
Jun. 30, 2025
Crypto Asset, Fair Value [Abstract]  
Schedule of digital assets

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

June 30, 2025

​

December 31, 2024

​

​

​

Units

​

Cost Basis

​

Fair Value

​

Units

​

Cost Basis

​

Fair Value

​

Digital assets:

​

(in thousands, except unit data)

​

Bitcoin

​

​

541.39

​

$

24,496

​

$

58,030

​

​

481.89

​

$

18,748

​

$

45,037

​

Total

​

​

​

​

$

24,496

​

$

58,030

​

​

​

​

$

18,748

​

$

45,037

​

​
v3.25.2
Investments (Tables)
 6 Months Ended
Jun. 30, 2025
Investments [Abstract]  
Schedule of changes in equity method investments

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended

​

Six Months Ended

​

​

​

June 30, 

​

June 30, 

​

​

    

2025

    

2024

    

2025

    

2024

    

​

​

(in thousands)

​

Beginning balance

​

$

33,555

​

$

45,693

​

$

35,532

​

$

46,503

​

Contributions

​

​

513

​

​

665

​

​

1,391

​

​

1,290

​

Net loss on equity method investments

​

​

(1,536)

​

​

(152)

​

​

(3,542)

​

​

(705)

​

Distributions received

​

​

(2,904)

​

​

(1,118)

​

​

(3,753)

​

​

(2,000)

​

Ending balance

​

$

29,628

​

$

45,088

​

$

29,628

​

$

45,088

​
Schedule of debt securities holdings

​

​

​

​

​

​

​

​

​

​

​

​

​

June 30, 2025

​

​

​

Cost Basis

​

Unrealized Gains (1)

​

Fair Value

​

​

​

(in thousands, except unit data)

​

Debt Securities

​

$

2,127

​

$

10,919

​

$

13,046

​

(1)Unrealized gains in our debt securities are included in the Change in unrealized gains (losses) on debt securities line item within our condensed consolidated statements of comprehensive income.
v3.25.2
Long-Term Debt (Tables)
 6 Months Ended
Jun. 30, 2025
Debt Disclosure [Abstract]  
Schedule of long-term debt

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Unamortized Discount and

​

​

​

Principal

​

Debt Issuance Costs

​

​

​

June 30, 

​

December 31, 

​

June 30, 

​

December 31, 

​

​

    

2025

    

2024

    

2025

    

2024

 

​

​

(in thousands)

​

Revolving credit facility

​

$

—

​

$

—

​

$

(6,119)

​

$

(7,231)

​

Term loan

​

 

38,672

​

 

45,703

​

 

(1,080)

​

 

(1,276)

​

8.625% Senior notes due 2029

​

​

400,000

​

​

400,000

​

​

(7,751)

​

​

(8,720)

​

Securitization facility

​

​

—

​

​

—

​

​

—

​

​

—

​

February 2024 equipment financing

​

​

38,382

​

​

44,684

​

​

—

​

​

—

​

​

​

 

477,054

​

 

490,387

​

 

(14,950)

​

 

(17,227)

​

Less current maturities

​

 

(27,475)

​

 

(26,669)

​

 

4,394

​

 

4,394

​

Total long-term debt

​

$

449,579

​

$

463,718

​

$

(10,556)

​

$

(12,833)

​
v3.25.2
Workers' Compensation And Pneumoconiosis (Tables)
 6 Months Ended
Jun. 30, 2025
Defined Benefit Plan Disclosure [Line Items]  
Reconciliation of changes in workers' compensation liability

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

    

Three Months Ended

​

Six Months Ended

 

​

​

June 30, 

​

June 30, 

​

​

​

2025

    

2024

    

2025

    

2024

​

​

​

(in thousands)

​

Beginning balance

​

$

48,511

​

$

47,561

​

$

47,870

​

$

47,975

​

Changes in accruals

​

 

3,419

​

 

3,365

​

 

6,795

​

 

6,490

​

Payments

​

 

(3,762)

​

 

(3,446)

​

 

(7,064)

​

 

(7,494)

​

Interest accretion

​

 

570

​

 

509

​

 

1,137

​

 

1,018

​

Valuation loss (gain) (1)

​

 

496

​

​

(795)

​

 

496

​

​

(795)

​

Ending balance

​

$

49,234

​

$

47,194

​

$

49,234

​

$

47,194

​
Pneumoconiosis benefits  
Defined Benefit Plan Disclosure [Line Items]  
Components of net periodic benefit cost

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

    

Three Months Ended

​

Six Months Ended

​

​

​

June 30, 

​

June 30, 

​

​

​

2025

    

2024

    

2025

    

2024

 

​

​

(in thousands)

​

Service cost

​

$

889

​

$

858

​

$

1,748

​

$

1,719

 

Interest cost (1)

​

 

1,686

​

 

1,558

​

 

3,352

​

 

3,116

​

Net amortization (1)

​

 

232

​

 

839

​

 

464

​

 

1,678

​

Net periodic benefit cost

​

$

2,807

​

$

3,255

​

$

5,564

​

$

6,513

​

(1)Interest cost and net amortization are included in the Other income (expense) line item within our condensed consolidated statements of income.
v3.25.2
Components of Pension Plan Net Periodic Benefit Costs (Tables)
 6 Months Ended
Jun. 30, 2025
Defined benefit pension plan  
Defined Benefit Plan Disclosure [Line Items]  
Components of net periodic benefit cost

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

    

Three Months Ended

​

Six Months Ended

​

​

​

June 30, 

​

June 30, 

​

​

​

2025

    

2024

    

2025

    

2024

    

​

​

(in thousands)

​

Interest cost

​

$

1,310

​

$

1,269

​

$

2,620

​

$

2,528

​

Expected return on plan assets

​

 

(1,709)

​

 

(1,761)

​

 

(3,418)

​

 

(3,526)

​

Amortization of prior service cost

​

​

2

​

​

46

​

​

5

​

​

93

​

Amortization of net loss

​

 

—

​

 

72

​

 

—

​

 

109

​

Net periodic benefit credit (1)

​

$

(397)

​

$

(374)

​

$

(793)

​

$

(796)

​

(1)Net periodic benefit credit for the Pension Plan is included in the Other income (expense) line item within our condensed consolidated statements of income.
v3.25.2
Partners' Capital (Tables)
 6 Months Ended
Jun. 30, 2025
Partners' Capital Notes [Abstract]  
Summary of quarterly per unit distribution paid

​

​

​

​

​

​

​

​

​

Payment Date

    

Per Unit Cash Distribution

 

Total Cash Distribution

 

​

​

​

​

​

(in thousands)

​

​

​

​

​

​

​

​

​

February 14, 2024

​

$

0.70

​

$

91,246

​

May 15, 2024

​

​

0.70

​

​

90,736

​

August 14, 2024

​

​

0.70

​

​

90,725

​

November 14, 2024

​

​

0.70

​

​

90,723

​

Total

​

$

2.80

​

$

363,430

​

​

​

​

​

​

​

​

​

February 14, 2025

​

$

0.70

​

$

90,891

​

May 15, 2025

​

​

0.70

​

​

90,739

​

August 14, 2025 (1)

​

​

0.60

​

​

​

​

Total

​

$

2.00

​

$

181,630

​

​

(1)On July 28, 2025, we declared this quarterly distribution payable on August 14, 2025 to all unitholders of record as of August 7, 2025.
Summary of changes to Partners' Capital

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Accumulated

​

​

​

​

​

​

​

​

​

Number of

​

Limited 

​

Other

​

​

​

​

​

​

​

​

​

Limited Partner

​

Partners'

​

Comprehensive

​

Noncontrolling

​

Total Partners'

​

​

    

Units

    

Capital

    

Income (Loss)

    

Interest

    

 Capital

 

​

​

(in thousands, except unit data)

​

Balance at January 1, 2025

 

128,061,981

​

$

1,867,850

​

$

(35,103)

​

$

20,786

​

$

1,853,533

​

Comprehensive income:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net income

 

—

​

 

73,983

​

 

—

​

​

1,577

 

 

75,560

​

Other comprehensive income

 

—

​

 

—

​

 

270

​

 

—

 

 

270

​

Total comprehensive income

 

​

​

​

​

​

​

​

​

​

​

 

​

75,830

​

Settlement of deferred compensation plans

​

366,043

​

​

(7,082)

​

​

—

​

​

—

​

​

(7,082)

​

Common unit-based compensation

 

—

​

 

1,964

​

​

—

​

​

—

​

​

1,964

​

Distributions on deferred common unit-based compensation

 

—

​

 

(1,247)

​

​

—

​

​

—

​

​

(1,247)

​

Distributions from consolidated company to noncontrolling interest

​

—

​

​

—

​

​

—

​

​

(1,894)

​

​

(1,894)

​

Distributions to Partners

 

—

​

​

(89,644)

​

​

—

​

​

—

​

​

(89,644)

​

Balance at March 31, 2025

​

128,428,024

​

​

1,845,824

​

​

(34,833)

​

​

20,469

​

​

1,831,460

​

Comprehensive income:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net income

 

—

​

 

59,410

​

 

—

​

​

1,615

 

 

61,025

​

Other comprehensive income

 

—

​

 

—

​

 

11,194

​

 

—

 

 

11,194

​

Total comprehensive income

 

​

​

​

​

​

​

​

​

​

​

 

​

72,219

​

Common unit-based compensation

 

—

​

 

2,281

​

​

—

​

​

—

​

​

2,281

​

Distributions on deferred common unit-based compensation

 

—

​

 

(841)

​

​

—

​

​

—

​

​

(841)

​

Distributions from consolidated company to noncontrolling interest

​

—

​

​

—

​

​

—

​

​

(2,731)

​

​

(2,731)

​

Distributions to Partners

 

—

​

​

(89,898)

​

​

—

​

​

—

​

​

(89,898)

​

Balance at June 30, 2025

​

128,428,024

​

$

1,816,776

​

$

(23,639)

​

$

19,353

​

$

1,812,490

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Accumulated

​

​

​

​

​

​

​

​

​

Number of

​

Limited 

​

Other

​

​

​

​

​

​

​

​

​

Limited Partner

​

Partners'

​

Comprehensive

​

Noncontrolling

​

Total Partners'

​

​

    

Units

    

Capital

    

Income (Loss)

    

Interest

    

 Capital

 

​

​

(in thousands, except unit data)

​

Balance at January 1, 2024

 

127,125,437

​

$

1,896,027

​

$

(61,525)

​

$

24,095

​

$

1,858,597

​

Cumulative-effect adjustment

​

—

​

​

6,232

​

​

—

​

​

—

​

​

6,232

​

Comprehensive income:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net income

 

—

​

 

158,057

​

 

—

​

​

1,510

 

 

159,567

​

Actuarially determined long-term liability adjustments

 

—

​

 

—

​

 

923

​

 

—

 

 

923

​

Total comprehensive income

 

​

​

​

​

​

​

​

​

​

​

 

​

160,490

​

Settlement of deferred compensation plans

​

936,544

​

​

(13,292)

​

​

—

​

​

—

​

​

(13,292)

​

Common unit-based compensation

 

—

​

 

2,604

​

​

—

​

​

—

​

​

2,604

​

Distributions on deferred common unit-based compensation

 

—

​

 

(2,261)

​

​

—

​

​

—

​

​

(2,261)

​

Distributions from consolidated company to noncontrolling interest

​

—

​

​

—

​

​

—

​

​

(1,981)

​

​

(1,981)

​

Distributions to Partners

 

—

​

​

(88,985)

​

​

—

​

​

—

​

​

(88,985)

​

Balance at March 31, 2024

 

128,061,981

​

​

1,958,382

​

​

(60,602)

​

​

23,624

​

​

1,921,404

​

Comprehensive income:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net income

 

—

​

 

100,187

​

 

—

​

​

1,322

 

 

101,509

​

Actuarially determined long-term liability adjustments

 

—

​

 

—

​

 

957

​

 

—

 

 

957

​

Total comprehensive income

 

​

​

​

​

​

​

​

​

​

​

 

​

102,466

​

Common unit-based compensation

 

—

​

 

2,926

​

​

—

​

​

—

​

​

2,926

​

Distributions on deferred common unit-based compensation

 

—

​

 

(1,091)

​

​

—

​

​

—

​

​

(1,091)

​

Distributions from consolidated company to noncontrolling interest

​

—

​

​

—

​

​

—

​

​

(1,942)

​

​

(1,942)

​

Distributions to Partners

 

—

​

​

(89,645)

​

​

—

​

​

—

​

​

(89,645)

​

Balance at June 30, 2024

 

128,061,981

​

$

1,970,759

​

$

(59,645)

​

$

23,004

​

$

1,934,118

​

​
v3.25.2
Common Unit-Based Compensation Plan (Tables)
 6 Months Ended
Jun. 30, 2025
ARLP LTIP  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Summary of non-vested share activity

​

​

​

​

​

​

​

​

​

​

​

​

    

Number of units

 

Weighted average grant date fair value per unit

 

Intrinsic value

 

​

​

​

​

​

​

​

(in thousands)

​

​

​

​

​

​

​

​

​

​

​

Non-vested grants at January 1, 2025

​

1,458,564

​

$

17.60

​

$

38,346

​

Granted (1)

 

376,853

​

​

26.92

​

​

​

​

Vested (2)

 

(625,649)

​

 

13.62

​

​

​

​

Forfeited

 

(11,528)

​

 

20.85

​

​

​

​

Non-vested grants at June 30, 2025

 

1,198,240

​

 

22.58

​

​

31,322

​

(1)The restricted units granted during 2025 have certain minimum-value guarantees per unit, regardless of whether the awards vest.
(2)During the six months ended June 30, 2025, we issued 366,043 unrestricted common units to the LTIP participants.  The remaining vested units were withheld to satisfy tax withholdings.
v3.25.2
Revenue from Contracts with Customers (Tables)
 6 Months Ended
Jun. 30, 2025
Revenue from Contract with Customer [Abstract]  
Schedule of disaggregation of revenues by type

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

    

Coal Operations

​

Royalties

​

Other,

​

​

​

​

​

​

Illinois

    

​

    

​

​

​

    

Corporate and

    

​

​

​

​

    

Basin

    

Appalachia

    

Oil & Gas

    

Coal

    

Elimination

    

Consolidated

​

​

​

(in thousands)

​

Three Months Ended June 30, 2025

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Coal sales

​

$

343,841

​

$

141,628

​

$

—

​

$

—

​

$

—

​

$

485,469

​

Oil & gas royalties

​

​

—

​

​

—

​

​

35,473

​

​

—

​

​

—

​

​

35,473

​

Coal royalties

​

​

—

​

​

—

​

​

—

​

​

17,612

​

​

(17,612)

​

​

—

​

Transportation revenues

​

​

4,829

​

​

3,729

​

​

—

​

​

—

​

​

—

​

​

8,558

​

Other revenues

​

​

1,577

​

​

626

​

​

28

​

​

—

​

​

15,732

​

​

17,963

​

Total revenues

​

$

350,247

​

$

145,983

​

$

35,501

​

$

17,612

​

$

(1,880)

​

$

547,463

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended June 30, 2024

​

​

​

 

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Coal sales

​

$

331,973

​

$

180,686

​

$

—

​

$

—

​

$

—

​

$

512,659

​

Oil & gas royalties

​

​

—

​

​

—

​

​

36,429

​

​

—

​

​

—

​

​

36,429

​

Coal royalties

​

​

—

​

​

—

​

​

—

​

​

16,584

​

​

(16,584)

​

​

—

​

Transportation revenues

​

​

20,570

​

​

6,131

​

​

—

​

​

—

​

​

—

​

​

26,701

​

Other revenues

​

​

2,218

​

​

1,395

​

​

8

​

​

3

​

​

13,937

​

​

17,561

​

Total revenues

​

$

354,761

​

$

188,212

​

$

36,437

​

$

16,587

​

$

(2,647)

​

$

593,350

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Six Months Ended June 30, 2025

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Coal sales

​

$

677,075

​

$

276,905

​

$

—

​

$

—

​

$

—

​

$

953,980

​

Oil & gas royalties

​

​

—

​

​

—

​

​

71,557

​

​

—

​

​

—

​

​

71,557

​

Coal royalties

​

​

—

​

​

—

​

​

—

​

​

33,407

​

​

(33,407)

​

​

—

​

Transportation revenues

​

​

11,692

​

​

7,066

​

​

—

​

​

—

​

​

—

​

​

18,758

​

Other revenues

​

​

4,475

​

​

1,508

​

​

857

​

​

—

​

​

36,796

​

​

43,636

​

Total revenues

​

$

693,242

​

$

285,479

​

$

72,414

​

$

33,407

​

$

3,389

​

$

1,087,931

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Six Months Ended June 30, 2024

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

 

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Coal sales

​

$

702,603

​

$

371,935

​

$

—

​

$

—

​

$

—

​

$

1,074,538

​

Oil & gas royalties

​

​

—

​

​

—

​

​

73,459

​

​

—

​

​

—

​

​

73,459

​

Coal royalties

​

​

—

​

​

—

​

​

—

​

​

35,286

​

​

(35,286)

​

​

—

​

Transportation revenues

​

​

45,046

​

​

12,408

​

​

—

​

​

—

​

​

—

​

​

57,454

​

Other revenues

​

​

4,953

​

​

1,883

​

​

323

​

​

9

​

​

32,428

​

​

39,596

​

Total revenues

​

$

752,602

​

$

386,226

​

$

73,782

​

$

35,295

​

$

(2,858)

​

$

1,245,047

​
Schedule of trade receivables

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

    

Three Months Ended

​

Six Months Ended

​

​

​

June 30, 

​

June 30, 

​

​

​

2025

    

2024

    

2025

    

2024

 

​

​

​

​

​

​

​

​

(in thousands)

​

Beginning balance

​

$

177,467

​

$

272,191

​

$

166,829

​

$

282,622

 

Ending balance

​

$

177,659

​

$

226,436

​

$

177,659

​

$

226,436

​
Schedule of current coal supply contracts

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

2028 and

​

​

​

    

2025

    

2026

    

2027

    

Thereafter

    

Total

​

​

(in thousands)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Illinois Basin Coal Operations coal revenues

​

$

609,685

​

$

1,036,588

​

$

653,033

​

$

739,113

​

$

3,038,419

Appalachia Coal Operations coal revenues

​

​

350,752

​

​

135,861

​

​

62,005

​

​

27,000

​

​

575,618

Total coal revenues (1)

​

$

960,437

​

$

1,172,449

​

$

715,038

​

$

766,113

​

$

3,614,037

(1) Coal revenues generally consists of consolidated revenues excluding our Oil & Gas Royalties segment as well as intercompany revenues from our Coal Royalties segment.
v3.25.2
Income Taxes (Tables)
 6 Months Ended
Jun. 30, 2025
Income Tax Disclosure [Abstract]  
Components of income tax expense

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended

​

Six Months Ended

​

​

​

June 30, 

​

June 30, 

​

​

​

2025

    

2024

    

2025

    

2024

    

​

​

(in thousands)

​

Current:

​

​

​

​

​

​

​

​

​

​

​

​

​

Federal

​

$

4,340

​

$

4,506

​

$

9,063

​

$

9,224

​

State

​

 

285

​

 

317

​

 

605

​

 

655

​

​

​

 

4,625

​

 

4,823

​

 

9,668

​

 

9,879

​

Deferred:

​

​

​

​

​

​

​

​

​

​

​

​

​

Federal

​

 

593

​

 

(839)

​

 

(184)

​

 

(966)

​

State

​

 

130

​

 

(124)

​

 

46

​

 

(104)

​

​

​

 

723

​

 

(963)

​

 

(138)

​

 

(1,070)

​

Income tax expense

​

$

5,348

​

$

3,860

​

$

9,530

​

$

8,809

​
v3.25.2
Earnings per Limited Partner Unit (Tables)
 6 Months Ended
Jun. 30, 2025
Earnings Per Share [Abstract]  
Reconciliation of net income (loss) and EPU calculations

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended

​

Six Months Ended

​

​

​

June 30, 

​

June 30, 

​

​

    

2025

    

2024

    

2025

    

2024

    

​

​

(in thousands, except per unit data)

​

Net income attributable to ARLP

​

$

59,410

​

$

100,187

​

$

133,393

​

$

258,244

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Less:

​

​

​

​

​

​

​

​

​

​

​

​

​

Distributions to participating securities

​

 

(719)

​

 

(1,688)

​

 

(1,545)

​

 

(3,368)

​

Undistributed earnings attributable to participating securities

​

 

—

​

 

(164)

​

 

—

​

 

(1,518)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net income attributable to ARLP available to limited partners

​

$

58,691

​

$

98,335

​

$

131,848

​

$

253,358

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Weighted-average limited partner units outstanding – basic and diluted

​

 

128,428

​

 

128,062

​

 

128,347

​

 

127,866

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Earnings per limited partner unit - basic and diluted (1)

​

$

0.46

​

$

0.77

​

$

1.03

​

$

1.98

​

(1)Diluted EPU gives effect to all potentially dilutive common units outstanding during the period using the treasury stock method. Diluted EPU excludes all potentially dilutive units calculated under the treasury stock method if their effect is anti-dilutive. For the three and six months ended June 30, 2025, participating securities of 605 and 715, respectively, were considered anti-dilutive under the treasury stock method. For the three and six months ended June 30, 2024, participating securities of 1,726 and 1,945, respectively, were considered anti-dilutive under the treasury stock method.
v3.25.2
Segment Information (Tables)
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Schedule of reportable segment results

Reportable segment results are presented below.

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

    

Coal Operations

​

Royalties

​

​

​

 

​

​

Illinois

    

​

    

​

​

​

    

​

​

​

​

    

Basin

    

Appalachia

    

Oil & Gas

    

Coal

    

Total

 

​

​

(in thousands)

 

Three Months Ended June 30, 2025

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Revenues - Outside

​

$

350,247

​

$

145,983

​

$

35,501

​

$

—

​

$

531,731

​

Revenues - Intercompany

​

​

—

​

​

—

​

​

—

​

​

17,612

​

​

17,612

​

Total revenues (1)

​

​

350,247

​

​

145,983

​

​

35,501

​

​

17,612

​

​

549,343

​

Less:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Segment Adjusted EBITDA Expense (2)

​

 

231,189

​

 

112,829

​

 

4,558

​

 

5,795

​

 

354,371

​

Transportation expenses

​

​

4,829

​

​

3,729

​

​

—

​

​

—

​

​

8,558

​

Other segment items (3)

​

​

—

​

​

—

​

​

1,060

​

​

—

​

​

1,060

​

Segment Adjusted EBITDA (4)

​

 

114,229

​

​

29,425

​

​

29,883

​

​

11,817

​

 

185,354

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Capital expenditures (6)

​

 

50,072

​

 

15,226

​

 

—

​

 

102

​

 

65,400

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended June 30, 2024

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

 

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Revenues - Outside

​

$

354,761

​

$

188,212

​

$

36,437

​

$

3

​

$

579,413

​

Revenues - Intercompany

​

​

—

​

​

—

​

​

—

​

​

16,584

​

​

16,584

​

Total revenues (1)

​

​

354,761

​

​

188,212

​

​

36,437

​

​

16,587

​

​

595,997

​

Less:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Segment Adjusted EBITDA Expense (2)

​

 

216,168

​

 

136,762

​

 

4,635

​

 

6,632

​

 

364,197

​

Transportation expenses

​

​

20,570

​

​

6,131

​

​

—

​

​

—

​

​

26,701

​

Other segment items (3)

​

​

—

​

​

—

​

​

544

​

​

—

​

​

544

​

Segment Adjusted EBITDA (4)

​

 

118,023

​

​

45,319

​

​

31,258

​

​

9,955

​

 

204,555

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Capital expenditures (6)

​

 

65,973

​

 

32,793

​

 

—

​

 

—

​

 

98,766

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Six Months Ended June 30, 2025

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Revenues - Outside

​

$

693,242

​

$

285,479

​

$

72,414

​

$

—

​

$

1,051,135

​

Revenues - Intercompany

​

​

—

​

​

—

​

​

—

​

​

33,407

​

​

33,407

​

Total revenues (1)

​

​

693,242

​

​

285,479

​

​

72,414

​

​

33,407

​

​

1,084,542

​

Less:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Segment Adjusted EBITDA Expense (2)

​

 

441,148

​

​

233,397

​

​

10,279

​

​

12,195

​

 

697,019

​

Transportation expenses

​

​

11,692

​

​

7,066

​

​

—

​

​

—

​

​

18,758

​

Other segment items (3)

​

​

—

​

​

—

​

​

2,368

​

​

—

​

​

2,368

​

Segment Adjusted EBITDA (4)

​

 

240,402

​

​

45,016

​

​

59,767

​

​

21,212

​

 

366,397

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Total assets (5)

​

 

1,076,634

​

​

472,142

​

​

847,300

​

​

308,959

​

 

2,705,035

​

Capital expenditures (6)

​

 

102,657

​

​

46,054

​

​

—

​

​

147

​

 

148,858

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Six Months Ended June 30, 2024

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

 

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Revenues - Outside

​

$

752,602

​

$

386,226

​

$

73,782

​

$

9

​

$

1,212,619

​

Revenues - Intercompany

​

​

—

​

​

—

​

​

—

​

​

35,286

​

​

35,286

​

Total revenues (1)

​

​

752,602

​

​

386,226

​

​

73,782

​

​

35,295

​

​

1,247,905

​

Less:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Segment Adjusted EBITDA Expense (2)

​

 

449,255

​

​

254,264

​

​

9,575

​

​

12,896

​

 

725,990

​

Transportation expenses

​

​

45,046

​

​

12,408

​

​

—

​

​

—

​

​

57,454

​

Other segment items (3)

​

​

—

​

​

—

​

​

1,547

​

​

—

​

​

1,547

​

Segment Adjusted EBITDA (4)

​

 

258,301

​

​

119,554

​

​

62,660

​

​

22,399

​

 

462,914

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Total assets (5)

​

 

1,011,972

​

​

552,796

​

​

793,416

​

​

316,505

​

 

2,674,689

​

Capital expenditures (6)

​

 

162,106

​

​

59,244

​

​

—

​

​

—

​

 

221,350

​

(1)The following is a reconciliation of our total segment revenues to total consolidated revenues:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

    

Three Months Ended

​

Six Months Ended

​

​

​

June 30, 

​

June 30, 

​

​

​

2025

    

2024

​

2025

    

2024

​

​

​

(in thousands)

​

Total segment revenues

​

$

549,343

​

$

595,997

​

$

1,084,542

​

$

1,247,905

​

Other, Corporate and Elimination revenues - Outside

​

​

15,732

​

​

13,937

​

​

36,796

​

​

32,428

​

Other, Corporate and Elimination revenues - Intercompany

​

​

(17,612)

​

​

(16,584)

​

​

(33,407)

​

​

(35,286)

​

Total consolidated revenues

​

$

547,463

​

$

593,350

​

$

1,087,931

​

$

1,245,047

​

​

Revenues included in Other, Corporate and Elimination are attributable to intercompany eliminations, which are primarily intercompany coal royalties eliminations, outside revenues at the Matrix Group and other outside miscellaneous sales and revenue activities.

​

(2)Segment Adjusted EBITDA Expense includes operating expenses, coal purchases, if applicable, and other income or expense as adjusted to remove certain items from operating expenses that we characterize as unrepresentative of our ongoing operations. Segment Adjusted EBITDA Expense is used as a financial measure by our management to assess the operating performance of our segments. Segment Adjusted EBITDA Expense is a key component of Segment Adjusted EBITDA in addition to coal sales, royalty revenues and other revenues. The exclusion of corporate general and administrative expenses from Segment Adjusted EBITDA Expense allows management to focus solely on the evaluation of segment operating performance as it primarily relates to our operating expenses.

​

(3)Other segment items include:

Oil & Gas Royalties – equity method investment income from AllDale III and income allocated to noncontrolling interest

​

(4)Segment Adjusted EBITDA is defined as net income attributable to ARLP before net interest expense, income taxes, depreciation, depletion and amortization and general and administrative expenses adjusted for certain items that we characterize as unrepresentative of our ongoing operations. Segment Adjusted EBITDA is used as a financial measure by Mr. Craft, who is also our chief operating decision maker (“CODM”), other management and by external users of our financial statements such as investors, commercial banks, research analysts and others. Our CODM uses Segment Adjusted EBITDA in assessing segment performance and deciding how to allocate resources. Segment Adjusted EBITDA provides useful information to our CODM and investors regarding our performance and results of operations because Segment Adjusted EBITDA (i) provides additional information about our core operating performance and ability to generate and distribute cash flow, (ii) provides investors with the financial analytical framework upon which we base financial, operational, compensation and planning decisions, (iii) presents a measurement that investors, rating agencies and debt holders have indicated is useful in assessing us and our results of operations and (iv) allows our CODM and management to focus solely on the evaluation of segment operating profitability as it relates to our revenues and operating expenses, which are primarily controlled by our segments.

​

The following is a reconciliation of total Segment Adjusted EBITDA for our segments to consolidated income before income taxes:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

    

Three Months Ended

​

Six Months Ended

​

​

​

June 30, 

​

June 30, 

​

​

​

2025

    

2024

 

2025

    

2024

 

​

​

(in thousands)

​

Segment Adjusted EBITDA – total segments

​

$

185,354

​

$

204,555

​

$

366,397

​

$

462,914

​

Other, Corporate and Elimination profit (loss)

​

​

(3,050)

​

 

(2,551)

​

​

(3,578)

​

 

(356)

​

General and administrative

​

​

(20,380)

​

 

(20,562)

​

 

(40,960)

​

 

(42,691)

​

Depreciation, depletion and amortization

​

​

(76,340)

​

 

(66,454)

​

 

(144,969)

​

 

(132,003)

​

Interest expense, net

​

​

(8,682)

​

 

(7,193)

​

 

(16,249)

​

 

(13,666)

​

Change in fair value of digital assets

​

​

12,856

​

​

(3,748)

​

​

7,282

​

​

8,105

​

Impairment loss on investments

​

​

(25,000)

​

​

—

​

​

(25,000)

​

​

—

​

Litigation expense accrual

​

 

—

​

​

—

​

​

—

​

 

(15,250)

​

Noncontrolling interest

​

​

1,615

​

​

1,322

​

​

3,192

​

​

2,832

​

Income before income taxes

​

$

66,373

​

$

105,369

​

$

146,115

​

$

269,885

​

​

Other, Corporate and Elimination profit (loss) represents profit (loss) from operating segments below the quantitative thresholds when determining our reportable segments as well as the elimination of intersegment profit (loss) between our reportable segments. The operating segments included are those described as part of our Other, Corporate and Eliminations category.

​

(5)The following is a reconciliation of our total segment assets to total consolidated assets:

​

​

​

​

​

​

​

​

​

​

​

June 30, 

​

​

​

2025

    

2024

​

​

​

(in thousands)

​

Total segment assets

​

$

2,705,035

​

$

2,674,689

​

Other, Corporate and Elimination total assets

​

​

164,411

​

​

378,257

​

Total consolidated assets

​

$

2,869,446

​

$

3,052,946

​

​

(6)Capital expenditures excludes $2.7 million paid towards oil & gas reserve acquisitions for the six months ended June 30, 2025 and $2.9 million and $4.7 million paid towards oil & gas reserve acquisitions for the three and six months ended June 30, 2024, respectively.

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

    

Three Months Ended

​

Six Months Ended

​

​

​

June 30, 

​

June 30, 

​

​

​

2025

    

2024

​

2025

    

2024

​

​

​

(in thousands)

​

Total segment capital expenditures

​

$

65,400

​

$

98,766

​

$

148,858

​

$

221,350

​

Other, Corporate and Elimination capital expenditures

​

​

1,617

​

​

2,676

​

​

4,935

​

​

3,938

​

Total consolidated capital expenditures

​

$

67,017

​

$

101,442

​

$

153,793

​

$

225,288

​

​
Schedule of segment revenues

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

    

Three Months Ended

​

Six Months Ended

​

​

​

June 30, 

​

June 30, 

​

​

​

2025

    

2024

​

2025

    

2024

​

​

​

(in thousands)

​

Total segment revenues

​

$

549,343

​

$

595,997

​

$

1,084,542

​

$

1,247,905

​

Other, Corporate and Elimination revenues - Outside

​

​

15,732

​

​

13,937

​

​

36,796

​

​

32,428

​

Other, Corporate and Elimination revenues - Intercompany

​

​

(17,612)

​

​

(16,584)

​

​

(33,407)

​

​

(35,286)

​

Total consolidated revenues

​

$

547,463

​

$

593,350

​

$

1,087,931

​

$

1,245,047

​
Schedule segment adjusted EBITDA

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

    

Three Months Ended

​

Six Months Ended

​

​

​

June 30, 

​

June 30, 

​

​

​

2025

    

2024

 

2025

    

2024

 

​

​

(in thousands)

​

Segment Adjusted EBITDA – total segments

​

$

185,354

​

$

204,555

​

$

366,397

​

$

462,914

​

Other, Corporate and Elimination profit (loss)

​

​

(3,050)

​

 

(2,551)

​

​

(3,578)

​

 

(356)

​

General and administrative

​

​

(20,380)

​

 

(20,562)

​

 

(40,960)

​

 

(42,691)

​

Depreciation, depletion and amortization

​

​

(76,340)

​

 

(66,454)

​

 

(144,969)

​

 

(132,003)

​

Interest expense, net

​

​

(8,682)

​

 

(7,193)

​

 

(16,249)

​

 

(13,666)

​

Change in fair value of digital assets

​

​

12,856

​

​

(3,748)

​

​

7,282

​

​

8,105

​

Impairment loss on investments

​

​

(25,000)

​

​

—

​

​

(25,000)

​

​

—

​

Litigation expense accrual

​

 

—

​

​

—

​

​

—

​

 

(15,250)

​

Noncontrolling interest

​

​

1,615

​

​

1,322

​

​

3,192

​

​

2,832

​

Income before income taxes

​

$

66,373

​

$

105,369

​

$

146,115

​

$

269,885

​
Schedule of segment assets

​

​

​

​

​

​

​

​

​

​

​

June 30, 

​

​

​

2025

    

2024

​

​

​

(in thousands)

​

Total segment assets

​

$

2,705,035

​

$

2,674,689

​

Other, Corporate and Elimination total assets

​

​

164,411

​

​

378,257

​

Total consolidated assets

​

$

2,869,446

​

$

3,052,946

​
Schedule of segment capital expenditures

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

    

Three Months Ended

​

Six Months Ended

​

​

​

June 30, 

​

June 30, 

​

​

​

2025

    

2024

​

2025

    

2024

​

​

​

(in thousands)

​

Total segment capital expenditures

​

$

65,400

​

$

98,766

​

$

148,858

​

$

221,350

​

Other, Corporate and Elimination capital expenditures

​

​

1,617

​

​

2,676

​

​

4,935

​

​

3,938

​

Total consolidated capital expenditures

​

$

67,017

​

$

101,442

​

$

153,793

​

$

225,288

​

​
v3.25.2
Variable Interest Entities - AllDale (Detail) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Mar. 31, 2025
Dec. 31, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2023
Investments in and Advances to Affiliates [Line Items]            
Carrying value of investment $ 29,628 $ 33,555 $ 35,532 $ 45,088 $ 45,693 $ 46,503
Cavalier Minerals            
Investments in and Advances to Affiliates [Line Items]            
Ownership interest in VIE (as a percent) 96.00%          
Cavalier Minerals | Bluegrass Minerals            
Investments in and Advances to Affiliates [Line Items]            
Distributions to be received (as a percent) 25.00%          
Noncontrolling ownership interest (as a percent) 4.00%          
AllDale III | Cavalier Minerals            
Investments in and Advances to Affiliates [Line Items]            
Ownership percentage by limited partners 72.00%          
AllDale III            
Investments in and Advances to Affiliates [Line Items]            
Distribution after hurdles (as a percent) 25.00%          
Specified internal rate of return (as a percent) 10.00%          
Percentage of available cash distributed 125.00%          
Carrying value of investment $ 21,600   $ 22,500      
VIE, Primary Beneficiary | AllDale I and II | AllDale III            
Investments in and Advances to Affiliates [Line Items]            
Ownership percentage by limited partners 97.00%          
VIE, Primary Beneficiary | AllDale I and II | General Partners' Capital            
Investments in and Advances to Affiliates [Line Items]            
Distributions to be received (as a percent) 20.00%          
VIE, Primary Beneficiary | AllDale I and II | Limited Partners' Capital            
Investments in and Advances to Affiliates [Line Items]            
Distributions to be received (as a percent) 80.00%          
VIE, Not Primary Beneficiary | AllDale III | AllDale III            
Investments in and Advances to Affiliates [Line Items]            
Ownership percentage by limited partners 13.90%          
v3.25.2
Variable Interest Entities - Bal Sheet (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Mar. 31, 2025
Dec. 31, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2023
Assets (liabilities):            
Cash and cash equivalents $ 55,004   $ 136,962      
Trade receivables 177,659 $ 177,467 166,829 $ 226,436 $ 272,191 $ 282,622
Total property, plant and equipment, net 2,174,944   2,166,270      
Accounts payable (98,248)   (98,188)      
Accrued taxes other than income taxes (24,596)   (21,051)      
AllDale I and II            
Assets (liabilities):            
Cash and cash equivalents 4,313   5,154      
Trade receivables 12,271   11,209      
Total property, plant and equipment, net 364,734   373,093      
Accrued taxes other than income taxes (649)   (870)      
AllDale I and II | Non-related            
Assets (liabilities):            
Accounts payable (217)   (221)      
AllDale I and II | Affiliates            
Assets (liabilities):            
Accounts payable $ (25)   $ 0      
v3.25.2
Variable Interest Entities - Investments (Detail) - USD ($)
$ in Thousands
 1 Months Ended 3 Months Ended 6 Months Ended
Jun. 02, 2022
Feb. 28, 2025
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Aug. 06, 2025
Mar. 31, 2025
Dec. 31, 2024
Mar. 31, 2024
Feb. 29, 2024
Dec. 31, 2023
Investments in and Advances to Affiliates [Line Items]                        
Contributions to equity method investments     $ 513 $ 665 $ 1,391 $ 1,290            
Carrying value of investment     29,628 $ 45,088 29,628 $ 45,088   $ 33,555 $ 35,532 $ 45,693   $ 46,503
NGP ET IV                        
Investments in and Advances to Affiliates [Line Items]                        
Carrying value of investment     8,000   8,000       $ 8,800      
NGP ET IV                        
Investments in and Advances to Affiliates [Line Items]                        
Funding commitment $ 25,000                      
Contributions to investee to date     $ 10,900   $ 10,900              
Gavin Generation                        
Investments in and Advances to Affiliates [Line Items]                        
Funding commitment   $ 25,000                 $ 25,000  
Gavin Generation | Subsequent event                        
Investments in and Advances to Affiliates [Line Items]                        
Contributions to investee to date             $ 22,100          
VIE, Not Primary Beneficiary | NGP ET IV | NGP ET IV                        
Investments in and Advances to Affiliates [Line Items]                        
Ownership percentage by limited partners 3.60%                      
VIE, Not Primary Beneficiary | Gavin Generation | Gavin Generation                        
Investments in and Advances to Affiliates [Line Items]                        
Ownership percentage by limited partners   5.40%                    
v3.25.2
Fair Value Measurements (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Dec. 31, 2015
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]            
Digital assets $ 58,030   $ 58,030   $ 45,037  
Debt securities 13,046   13,046   0  
Contingent consideration payment 2,652 $ 2,380 4,428 $ 3,811    
Hamilton acquisition            
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]            
Amount of contingent consideration payable           $ 110,000
Royalty agreement     300      
Hamilton acquisition | Aggregate            
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]            
Contingent consideration payment     14,100      
Estimated fair value | Recurring | Level 1            
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]            
Digital assets 58,030   58,030   45,037  
Estimated fair value | Recurring | Level 2            
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]            
Long-term debt 510,517   510,517   523,461  
Estimated fair value | Recurring | Level 3            
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]            
Contingent consideration 10,677   10,677   13,100  
Debt securities 13,046   13,046      
Carrying Value | Recurring            
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]            
Digital assets 58,030   58,030   45,037  
Contingent consideration 10,677   10,677   13,100  
Debt securities 13,046   13,046      
Long-term debt $ 477,054   $ 477,054   $ 490,387  
v3.25.2
Fair Value Measurements - Contingent Consideration (Details)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
USD ($)
Jun. 30, 2024
USD ($)
Jun. 30, 2025
USD ($)
Jun. 30, 2024
USD ($)
Dec. 31, 2024
Changes in contingent consideration liability          
Beginning balance $ 11,324 $ 8,469 $ 13,100 $ 9,900  
Payments (2,652) (2,380) (4,428) (3,811)  
Ending balance 10,677 6,089 10,677 6,089  
Product          
Changes in contingent consideration liability          
Noncash changes in fair value $ 2,005 $ 0 $ 2,005 $ 0  
Fair Value, Liability, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Cost of Goods and Service, Excluding Depreciation, Depletion, and Amortization Cost of Goods and Service, Excluding Depreciation, Depletion, and Amortization Cost of Goods and Service, Excluding Depreciation, Depletion, and Amortization Cost of Goods and Service, Excluding Depreciation, Depletion, and Amortization  
Cost of Debt | Minimum          
Fair Value Measurement Inputs and Valuation Techniques [Line Items]          
Contingent consideration, Measurement input 0.0651   0.0651    
Cost of Debt | Maximum          
Fair Value Measurement Inputs and Valuation Techniques [Line Items]          
Contingent consideration, Measurement input 0.0856   0.0856    
Coal price volatility          
Fair Value Measurement Inputs and Valuation Techniques [Line Items]          
Contingent consideration, Measurement input 0.062   0.062   0.062
Coal price volatility | Minimum          
Fair Value Measurement Inputs and Valuation Techniques [Line Items]          
Contingent consideration, Measurement input         0.0651
Coal price volatility | Maximum          
Fair Value Measurement Inputs and Valuation Techniques [Line Items]          
Contingent consideration, Measurement input         0.0856
Market price of risk adjustment (annual)          
Fair Value Measurement Inputs and Valuation Techniques [Line Items]          
Contingent consideration, Measurement input 0.062   0.062   0.062
v3.25.2
Fair Value Measurements - Debt Securities (Details)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
USD ($)
Y
Jun. 30, 2025
USD ($)
Y
changes in our debt securities    
Beginning balance $ 0 $ 0
Noncash changes in fair value $ 10,919 $ 10,919
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Asset, Gain (Loss), Statement of Other Comprehensive Income or Comprehensive Income [Extensible Enumeration] OCI, Debt Securities, Available-for-Sale, Unrealized Holding Gain (Loss), before Adjustment, after Tax OCI, Debt Securities, Available-for-Sale, Unrealized Holding Gain (Loss), before Adjustment, after Tax
Payments $ 2,127 $ 2,127
Ending balance $ 13,046 $ 13,046
Industry volatility | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities, Measurement Input 0.291 0.291
Industry volatility | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities, Measurement Input 0.7086 0.7086
Industry volatility | Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities, Measurement Input 0.4998 0.4998
Estimated time to exit | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities, Measurement Input | Y 2 2
Estimated time to exit | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities, Measurement Input | Y 4 4
Estimated time to exit | Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities, Measurement Input | Y 3 3
Forecasted future cash flow | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities, Measurement Input 906,600 906,600
Forecasted future cash flow | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities, Measurement Input 1,285,900 1,285,900
Forecasted future cash flow | Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities, Measurement Input 1,096,300 1,096,300
Cost of capital | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities, Measurement Input 0.1125 0.1125
Cost of capital | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities, Measurement Input 0.1658 0.1658
Cost of capital | Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities, Measurement Input 0.1392 0.1392
v3.25.2
Inventories (Details) - USD ($)
$ in Thousands
 6 Months Ended 12 Months Ended
Jun. 30, 2025
Dec. 31, 2024
Inventory [Line Items]    
Coal $ 55,171 $ 37,290
Finished goods (net of reserve for obsolescence of $2,366 and $2,481, respectively) 14,586 14,197
Work in process 1,778 1,560
Raw materials 6,975 7,192
Total operating inventories, net 78,510 60,239
Supplies (net of reserve for obsolescence of $7,152 and $6,409, respectively) 60,202 60,422
Total inventories, net 138,712 120,661
Reduce inventory carrying value to market 2,700 24,600
Manufactured goods    
Inventory [Line Items]    
Reserve for obsolescence 2,366 2,481
Supplies    
Inventory [Line Items]    
Reserve for obsolescence $ 7,152 $ 6,409
v3.25.2
Digital Assets - Balance sheet (Details)
$ in Thousands
Jun. 30, 2025
USD ($)
item
Dec. 31, 2024
USD ($)
item
Crypto Asset, Holding [Line Items]    
Cost Basis $ 24,496 $ 18,748
Fair Value $ 58,030 $ 45,037
Bitcoin    
Crypto Asset, Holding [Line Items]    
Units | item 541 482
Cost Basis $ 24,496 $ 18,748
Fair Value $ 58,030 $ 45,037
v3.25.2
Investments - Equity method (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Investments [Abstract]        
Beginning balance $ 33,555 $ 45,693 $ 35,532 $ 46,503
Contributions 513 665 1,391 1,290
Net loss on equity method investments (1,536) (152) (3,542) (705)
Distributions received (2,904) (1,118) (3,753) (2,000)
Ending balance $ 29,628 $ 45,088 $ 29,628 $ 45,088
v3.25.2
Investments - Non-equity method (Details)
$ in Thousands
 6 Months Ended 12 Months Ended
Sep. 08, 2023
USD ($)
Jun. 30, 2025
USD ($)
Jun. 30, 2024
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2024
USD ($)
Aug. 22, 2023
USD ($)
Equity Securities without Readily Determinable Fair Value [Line Items]            
Equity securities   $ 67,541     $ 92,541  
Funded Commitment amount   $ 2,127 $ 0      
Infinitum            
Equity Securities without Readily Determinable Fair Value [Line Items]            
Contributions $ 24,600     $ 42,000    
Ascend            
Equity Securities without Readily Determinable Fair Value [Line Items]            
Equity securities           $ 25,000
Conversion ratio   1        
Commitment to purchase convertible debt   $ 3,100        
Funded Commitment amount   $ 2,100        
Redemption term   2 years        
Funded commitments, Annual interest rate   15.00%        
Funded commitments, redemption, multiplier   12        
Ascend | Participating stockholders in convertible note purchase | Ascend            
Equity Securities without Readily Determinable Fair Value [Line Items]            
Conversion ratio   1        
Ascend | Non-participating stockholders in convertible note purchase | Ascend            
Equity Securities without Readily Determinable Fair Value [Line Items]            
Conversion ratio   3        
v3.25.2
Investments - Debt security holdings (Details)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
USD ($)
Investments [Abstract]  
Debt Securities, Cost Basis $ 2,127
Debt Securities, Unrealized Gains 10,919
Debt Securities, Fair Value $ 13,046
v3.25.2
Investments - Fair Value (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]        
Debt Securities, Fair Value $ 13,046   $ 13,046  
Impairment charge 25,000 $ 0 25,000 $ 0
Level 3        
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]        
Debt Securities, Fair Value $ 13,000   $ 13,000  
v3.25.2
Long-Term Debt - Components (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Jun. 12, 2024
Jan. 13, 2023
Principal        
Aggregate maturities of long-term debt $ 477,054 $ 490,387    
Less current maturities (27,475) (26,669)    
Total long-term debt 449,579 463,718    
Unamortized Discount and Debt Issuance Costs        
Unamortized debt issuance costs including current and non-current (14,950) (17,227)    
Less current maturities 4,394 4,394    
Total unamortized debt issuance costs (10,556) (12,833)    
Revolving credit facility        
Principal        
Aggregate maturities of long-term debt 0 0    
Unamortized Discount and Debt Issuance Costs        
Unamortized debt issuance costs including current and non-current (6,119) (7,231)    
Term loan        
Principal        
Aggregate maturities of long-term debt 38,672 45,703    
Unamortized Discount and Debt Issuance Costs        
Unamortized debt issuance costs including current and non-current (1,080) (1,276)    
Interest rate (as a percent)       6.25%
8.625% Senior Notes due 2029        
Principal        
Aggregate maturities of long-term debt 400,000 400,000    
Unamortized Discount and Debt Issuance Costs        
Unamortized debt issuance costs including current and non-current $ (7,751) (8,720)    
Interest rate (as a percent) 8.625%   8.625%  
Securitization facility        
Principal        
Aggregate maturities of long-term debt $ 0 0    
Unamortized Discount and Debt Issuance Costs        
Unamortized debt issuance costs including current and non-current 0 0    
February 2024 equipment financing        
Principal        
Aggregate maturities of long-term debt 38,382 44,684    
Unamortized Discount and Debt Issuance Costs        
Unamortized debt issuance costs including current and non-current $ 0 $ 0    
v3.25.2
Long-Term Debt - Credit Facility (Details) - USD ($)
$ in Thousands
 6 Months Ended
Jan. 13, 2023
Jun. 30, 2025
Jun. 30, 2024
Debt Instrument [Line Items]      
Debt issuance costs incurred   $ 0 $ 11,379
Credit Agreement      
Debt Instrument [Line Items]      
Maximum borrowing capacity $ 425,000    
Increase of maximum borrowing capacity 100,000    
Minimum liquidity to extend maturity $ 200,000    
Letters of credit outstanding   41,000  
Debt available for borrowing   $ 384,000  
Annual commitment fee percentage, undrawn portion   0.50%  
Minimum debt to cash flow ratio for restriction to apply on cash distribution 1    
Interest coverage ratio 3    
Actual cash flow to interest expense ratio for trailing twelve months   35.07  
Credit Agreement | Overnight Bank Funding Rate      
Debt Instrument [Line Items]      
Basis spread for variable interest rate (as a percent) 0.50%    
Credit Agreement | Daily Simple Secured Overnight Financing Rate      
Debt Instrument [Line Items]      
Basis spread for variable interest rate (as a percent) 1.00%    
Credit Agreement | Alliance Coal      
Debt Instrument [Line Items]      
ARLP debt arrangements requirements, debt to cash flow ratio 1.5    
Actual debt to cash flow ratio for trailing twelve months   0.16  
Credit Agreement | Alliance Coal and Intermediate Partnership      
Debt Instrument [Line Items]      
ARLP debt arrangements requirements, debt to cash flow ratio 2.5    
Actual debt to cash flow ratio for trailing twelve months   1  
Swingline subfacility      
Debt Instrument [Line Items]      
Maximum borrowing capacity $ 15,000    
Term loan      
Debt Instrument [Line Items]      
Maximum borrowing term loan $ 75,000    
Interest rate (as a percent) 6.25%    
Effective interest rate (as a percent)   7.68%  
v3.25.2
Long-Term Debt - Senior Notes (Details) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 12, 2024
Jun. 30, 2025
Jun. 30, 2024
Issuance of Senior Notes      
Debt issuance costs incurred   $ 0 $ 11,379
8.625% Senior Notes due 2029      
Issuance of Senior Notes      
Principal amount $ 400,000    
Term 5 years    
Interest rate (as a percent) 8.625% 8.625%  
8.625% Senior Notes due 2029 | Scenario One      
Issuance of Senior Notes      
Maximum redeemable debt (as a percent) 35.00%    
Redemption price to principal (as a percent) 108.625%    
8.625% Senior Notes due 2029 | Scenario Two      
Issuance of Senior Notes      
Maximum redeemable debt (as a percent) 40.00%    
Redemption price to principal (as a percent) 108.625%    
v3.25.2
Long-Term Debt - Securitization Facility (Details) - Securitization facility
$ in Millions
Jun. 30, 2025
USD ($)
Debt Instrument [Line Items]  
Maximum borrowing capacity $ 75.0
Letters of credit outstanding 14.8
Debt available for borrowing $ 60.2
v3.25.2
Long-Term Debt - Equipment financing (Details) - February 2024 equipment financing
$ in Millions
Feb. 28, 2024
USD ($)
Debt Instrument [Line Items]  
Principal amount $ 54.6
Term 48 months
Effective interest rate (as a percent) 8.29%
v3.25.2
Workers' Compensation And Pneumoconiosis - WorkComp Roll (Detail) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Dec. 31, 2023
Reconciliation of changes in the workers' compensation liability            
Beginning balance $ 48,511 $ 47,561 $ 47,870 $ 47,975 $ 47,975  
Changes in accruals 3,419 3,365 6,795 6,490    
Payments (3,762) (3,446) (7,064) (7,494)    
Interest accretion 570 509 1,137 1,018    
Valuation loss (gain) 496 (795) 496 (795)    
Ending balance 49,234 $ 47,194 $ 49,234 $ 47,194 $ 47,870 $ 47,975
Estimated present value of future obligations and other information            
Workers' compensation discount rate     4.92% 5.18% 5.17% 4.66%
Receivables for traumatic injury claims $ 3,700   $ 3,700      
v3.25.2
Workers' Compensation And Pneumoconiosis - Benefit cost (Details) - Pneumoconiosis benefits - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Defined Benefit Plan Disclosure [Line Items]        
Service cost $ 889 $ 858 $ 1,748 $ 1,719
Interest cost $ 1,686 $ 1,558 $ 3,352 $ 3,116
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Interest Cost, Statement of Income or Comprehensive Income [Extensible Enumeration] Other Nonoperating Income (Expense) Other Nonoperating Income (Expense) Other Nonoperating Income (Expense) Other Nonoperating Income (Expense)
Net amortization $ 232 $ 839 $ 464 $ 1,678
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Amortization of Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Other Nonoperating Income (Expense) Other Nonoperating Income (Expense) Other Nonoperating Income (Expense) Other Nonoperating Income (Expense)
Net periodic benefit cost $ 2,807 $ 3,255 $ 5,564 $ 6,513
v3.25.2
Components of Pension Plan Net Periodic Benefit Costs (Details) - Pension Plan - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Components of net periodic benefit cost:        
Interest cost $ 1,310 $ 1,269 $ 2,620 $ 2,528
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Interest Cost, Statement of Income or Comprehensive Income [Extensible Enumeration] Other Nonoperating Income (Expense) Other Nonoperating Income (Expense) Other Nonoperating Income (Expense) Other Nonoperating Income (Expense)
Expected return on plan assets $ (1,709) $ (1,761) $ (3,418) $ (3,526)
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Expected Return (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Other Nonoperating Income (Expense) Other Nonoperating Income (Expense) Other Nonoperating Income (Expense) Other Nonoperating Income (Expense)
Amortization of prior service cost $ 2 $ 46 $ 5 $ 93
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Amortization of Prior Service Cost (Credit), Statement of Income or Comprehensive Income [Extensible Enumeration] Other Nonoperating Income (Expense) Other Nonoperating Income (Expense) Other Nonoperating Income (Expense) Other Nonoperating Income (Expense)
Amortization of net loss $ 0 $ 72 $ 0 $ 109
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Amortization of Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Other Nonoperating Income (Expense) Other Nonoperating Income (Expense) Other Nonoperating Income (Expense) Other Nonoperating Income (Expense)
Net periodic benefit cost $ (397) $ (374) $ (793) $ (796)
v3.25.2
Contingencies (Details) - USD ($)
$ in Millions
 1 Months Ended
Jul. 10, 2025
Apr. 30, 2024
Long-Term Purchase Commitment [Line Items]    
Settlement awarded to other party   $ 15.3
Subsequent event    
Long-Term Purchase Commitment [Line Items]    
Settlement payment $ 15.3  
v3.25.2
Partners' Capital - Distributions (Details) - USD ($)
$ / shares in Units, $ in Thousands
 5 Months Ended 12 Months Ended
Aug. 14, 2025
May 15, 2025
Feb. 14, 2025
Nov. 14, 2024
Aug. 14, 2024
May 15, 2024
Feb. 14, 2024
May 31, 2025
Dec. 31, 2024
Partners' Capital Notes [Abstract]                  
Cash distribution paid (in dollars per unit) $ 0.6 $ 0.7 $ 0.7 $ 0.7 $ 0.7 $ 0.7 $ 0.7 $ 2 $ 2.8
Cash distribution paid   $ 90,739 $ 90,891 $ 90,723 $ 90,725 $ 90,736 $ 91,246 $ 181,630 $ 363,430
v3.25.2
Partners' Capital - Change (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Mar. 31, 2025
Jun. 30, 2024
Mar. 31, 2024
Jun. 30, 2025
Jun. 30, 2024
Increase (decrease) in Partners' Capital            
Balance at beginning of period $ 1,831,460 $ 1,853,533 $ 1,921,404 $ 1,858,597 $ 1,853,533 $ 1,858,597
Balance at beginning of period (in units)   128,061,981     128,061,981  
Comprehensive income (loss):            
Net income 61,025 $ 75,560 101,509 159,567 $ 136,585 261,076
Other comprehensive income 11,194 270 957 923 11,464 1,880
Comprehensive Income 72,219 75,830 102,466 160,490 148,049 262,956
Settlement of deferred compensation plans   (7,082)   (13,292)    
Common unit-based compensation 2,281 1,964 2,926 2,604    
Distributions on deferred common unit-based compensation (841) (1,247) (1,091) (2,261)    
Distributions from consolidated company to noncontrolling interest (2,731) (1,894) (1,942) (1,981)    
Distributions to Partners (89,898) (89,644) (89,645) (88,985)    
Balance at end of period $ 1,812,490 1,831,460 1,934,118 1,921,404 $ 1,812,490 1,934,118
Balance at end of period (in units) 128,428,024       128,428,024  
Cumulative Effect, Period of Adoption, Adjustment            
Increase (decrease) in Partners' Capital            
Balance at beginning of period     6,232      
Comprehensive income (loss):            
Balance at end of period       6,232    
Accumulated Other Comprehensive Income (Loss)            
Increase (decrease) in Partners' Capital            
Balance at beginning of period $ (34,833) (35,103) (60,602) (61,525) $ (35,103) (61,525)
Comprehensive income (loss):            
Net income     0 0    
Other comprehensive income 11,194 270 957 923    
Settlement of deferred compensation plans       0    
Common unit-based compensation     0 0    
Distributions on deferred common unit-based compensation     0 0    
Distributions from consolidated company to noncontrolling interest     0 0    
Distributions to Partners     0 0    
Balance at end of period (23,639) (34,833) (59,645) (60,602) (23,639) (59,645)
Accumulated Other Comprehensive Income (Loss) | Cumulative Effect, Period of Adoption, Adjustment            
Increase (decrease) in Partners' Capital            
Balance at beginning of period     0      
Comprehensive income (loss):            
Balance at end of period       0    
Noncontrolling Interest            
Increase (decrease) in Partners' Capital            
Balance at beginning of period 20,469 20,786 23,624 24,095 20,786 24,095
Comprehensive income (loss):            
Net income 1,615 1,577 1,322 1,510    
Other comprehensive income     0 0    
Settlement of deferred compensation plans       0    
Common unit-based compensation     0 0    
Distributions on deferred common unit-based compensation     0 0    
Distributions from consolidated company to noncontrolling interest (2,731) (1,894) (1,942) (1,981)    
Distributions to Partners     0 0    
Balance at end of period 19,353 20,469 23,004 23,624 19,353 23,004
Noncontrolling Interest | Cumulative Effect, Period of Adoption, Adjustment            
Increase (decrease) in Partners' Capital            
Balance at beginning of period     0      
Comprehensive income (loss):            
Balance at end of period       0    
Limited Partners' Capital            
Increase (decrease) in Partners' Capital            
Balance at beginning of period $ 1,845,824 $ 1,867,850 $ 1,958,382 $ 1,896,027 $ 1,867,850 $ 1,896,027
Balance at beginning of period (in units) 128,428,024 128,061,981 128,061,981 127,125,437 128,061,981 127,125,437
Comprehensive income (loss):            
Net income $ 59,410 $ 73,983 $ 100,187 $ 158,057    
Other comprehensive income     0 0    
Settlement of deferred compensation plans   $ (7,082)   $ (13,292)    
Settlement of deferred common unit- based compensation plans (in units)   366,043   936,544    
Common unit-based compensation 2,281 $ 1,964 2,926 $ 2,604    
Distributions on deferred common unit-based compensation (841) (1,247) (1,091) (2,261)    
Distributions from consolidated company to noncontrolling interest     0 0    
Distributions to Partners (89,898) (89,644) (89,645) (88,985)    
Balance at end of period $ 1,816,776 $ 1,845,824 $ 1,970,759 $ 1,958,382 $ 1,816,776 $ 1,970,759
Balance at end of period (in units) 128,428,024 128,428,024 128,061,981 128,061,981 128,428,024 128,061,981
Limited Partners' Capital | Cumulative Effect, Period of Adoption, Adjustment            
Increase (decrease) in Partners' Capital            
Balance at beginning of period     $ 6,232      
Comprehensive income (loss):            
Balance at end of period       $ 6,232    
v3.25.2
Common Unit-Based Compensation Plan - LTIP Grants (Details) - ARLP LTIP - USD ($)
$ / shares in Units, $ in Thousands
 6 Months Ended
Jun. 30, 2025
Dec. 31, 2024
Number of units    
Balance at the beginning of the period (in units) 1,458,564  
Granted (in units) 376,853  
Vested (in units) (625,649)  
Forfeited (in units) (11,528)  
Balance at the end of the period (in units) 1,198,240  
Weighted average grant date fair value per unit    
Balance at the beginning of the period (in dollars per unit) $ 17.6  
Granted (in dollars per unit) 26.92  
Vested (in dollars per unit) 13.62  
Forfeited (in dollars per unit) 20.85  
Balance at the end of the period (in dollars per unit) $ 22.58  
Intrinsic value (in dollars)    
Intrinsic value of outstanding grants (in dollars) $ 31,322 $ 38,346
Other information    
Common units issued 366,043  
v3.25.2
Common Unit-Based Compensation Plan - LTIP Other (Details) - ARLP LTIP - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Other information        
Unit-based compensation expense $ 2.3 $ 2.3 $ 4.2 $ 4.4
Total unit-based obligation recorded 12.6   12.6  
Unrecognized compensation expense (in dollars) $ 14.5   $ 14.5  
Weighted-average period for recognition of expense     1 year 6 months  
v3.25.2
Revenue from Contracts with Customers - Disaggregation (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Mar. 31, 2025
Dec. 31, 2024
Mar. 31, 2024
Dec. 31, 2023
Disaggregation of revenues                
Revenues $ 547,463 $ 593,350 $ 1,087,931 $ 1,245,047        
Trade receivables 177,659 226,436 177,659 226,436 $ 177,467 $ 166,829 $ 272,191 $ 282,622
Coal sales                
Disaggregation of revenues                
Revenues 485,469 512,659 953,980 1,074,538        
Oil & gas royalties                
Disaggregation of revenues                
Revenues 35,473 36,429 71,557 73,459        
Coal royalties                
Disaggregation of revenues                
Revenues 0 0 0 0        
Transportation                
Disaggregation of revenues                
Revenues 8,558 26,701 18,758 57,454        
Other revenues                
Disaggregation of revenues                
Revenues 17,963 17,561 43,636 39,596        
Operating Segments                
Disaggregation of revenues                
Revenues 549,343 595,997 1,084,542 1,247,905        
Operating Segments | Illinois Basin Coal                
Disaggregation of revenues                
Revenues 350,247 354,761 693,242 752,602        
Operating Segments | Illinois Basin Coal | Coal sales                
Disaggregation of revenues                
Revenues 343,841 331,973 677,075 702,603        
Operating Segments | Illinois Basin Coal | Oil & gas royalties                
Disaggregation of revenues                
Revenues 0 0 0 0        
Operating Segments | Illinois Basin Coal | Coal royalties                
Disaggregation of revenues                
Revenues 0 0 0 0        
Operating Segments | Illinois Basin Coal | Transportation                
Disaggregation of revenues                
Revenues 4,829 20,570 11,692 45,046        
Operating Segments | Illinois Basin Coal | Other revenues                
Disaggregation of revenues                
Revenues 1,577 2,218 4,475 4,953        
Operating Segments | Appalachia Coal                
Disaggregation of revenues                
Revenues 145,983 188,212 285,479 386,226        
Operating Segments | Appalachia Coal | Coal sales                
Disaggregation of revenues                
Revenues 141,628 180,686 276,905 371,935        
Operating Segments | Appalachia Coal | Oil & gas royalties                
Disaggregation of revenues                
Revenues 0 0 0 0        
Operating Segments | Appalachia Coal | Coal royalties                
Disaggregation of revenues                
Revenues 0 0 0 0        
Operating Segments | Appalachia Coal | Transportation                
Disaggregation of revenues                
Revenues 3,729 6,131 7,066 12,408        
Operating Segments | Appalachia Coal | Other revenues                
Disaggregation of revenues                
Revenues 626 1,395 1,508 1,883        
Operating Segments | Oil & Gas Royalties                
Disaggregation of revenues                
Revenues 35,501 36,437 72,414 73,782        
Operating Segments | Oil & Gas Royalties | Coal sales                
Disaggregation of revenues                
Revenues 0 0 0 0        
Operating Segments | Oil & Gas Royalties | Oil & gas royalties                
Disaggregation of revenues                
Revenues 35,473 36,429 71,557 73,459        
Operating Segments | Oil & Gas Royalties | Coal royalties                
Disaggregation of revenues                
Revenues 0 0 0 0        
Operating Segments | Oil & Gas Royalties | Transportation                
Disaggregation of revenues                
Revenues 0 0 0 0        
Operating Segments | Oil & Gas Royalties | Other revenues                
Disaggregation of revenues                
Revenues 28 8 857 323        
Operating Segments | Coal Royalties                
Disaggregation of revenues                
Revenues 17,612 16,587 33,407 35,295        
Operating Segments | Coal Royalties | Coal sales                
Disaggregation of revenues                
Revenues 0 0 0 0        
Operating Segments | Coal Royalties | Oil & gas royalties                
Disaggregation of revenues                
Revenues 0 0 0 0        
Operating Segments | Coal Royalties | Coal royalties                
Disaggregation of revenues                
Revenues 17,612 16,584 33,407 35,286        
Operating Segments | Coal Royalties | Transportation                
Disaggregation of revenues                
Revenues 0 0 0 0        
Operating Segments | Coal Royalties | Other revenues                
Disaggregation of revenues                
Revenues 0 3 0 9        
Other, Corporate and Elimination                
Disaggregation of revenues                
Revenues (17,612) (16,584) (33,407) (35,286)        
Other, Corporate and Elimination | Other revenues                
Disaggregation of revenues                
Revenues 15,732 13,937 36,796 32,428        
Corporate Reconciling Items and Eliminations [Member]                
Disaggregation of revenues                
Revenues (1,880) (2,647) 3,389 (2,858)        
Corporate Reconciling Items and Eliminations [Member] | Coal sales                
Disaggregation of revenues                
Revenues 0 0 0 0        
Corporate Reconciling Items and Eliminations [Member] | Oil & gas royalties                
Disaggregation of revenues                
Revenues 0 0 0 0        
Corporate Reconciling Items and Eliminations [Member] | Coal royalties                
Disaggregation of revenues                
Revenues (17,612) (16,584) (33,407) (35,286)        
Corporate Reconciling Items and Eliminations [Member] | Transportation                
Disaggregation of revenues                
Revenues 0 0 0 0        
Corporate Reconciling Items and Eliminations [Member] | Other revenues                
Disaggregation of revenues                
Revenues 15,732 13,937 36,796 32,428        
Elimination                
Disaggregation of revenues                
Revenues 17,612 16,584 33,407 35,286        
Elimination | Coal Royalties                
Disaggregation of revenues                
Revenues $ 17,612 $ 16,584 $ 33,407 $ 35,286        
v3.25.2
Revenue from Contracts with Customers - Supply contracts (Details)
$ in Thousands
Jun. 30, 2025
USD ($)
Performance obligations unsatisfied or partially unsatisfied  
Total $ 3,614,037
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-04-01  
Performance obligations unsatisfied or partially unsatisfied  
Total $ 960,437
Expected timing of satisfaction period 6 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01  
Performance obligations unsatisfied or partially unsatisfied  
Total $ 1,172,449
Expected timing of satisfaction period 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01  
Performance obligations unsatisfied or partially unsatisfied  
Total $ 715,038
Expected timing of satisfaction period 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01  
Performance obligations unsatisfied or partially unsatisfied  
Total $ 766,113
Expected timing of satisfaction period 1 year
Illinois Basin Coal  
Performance obligations unsatisfied or partially unsatisfied  
Total $ 3,038,419
Illinois Basin Coal | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-04-01  
Performance obligations unsatisfied or partially unsatisfied  
Total $ 609,685
Expected timing of satisfaction period 6 months
Illinois Basin Coal | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01  
Performance obligations unsatisfied or partially unsatisfied  
Total $ 1,036,588
Expected timing of satisfaction period 1 year
Illinois Basin Coal | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01  
Performance obligations unsatisfied or partially unsatisfied  
Total $ 653,033
Expected timing of satisfaction period 1 year
Illinois Basin Coal | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01  
Performance obligations unsatisfied or partially unsatisfied  
Total $ 739,113
Expected timing of satisfaction period 1 year
Appalachia Coal  
Performance obligations unsatisfied or partially unsatisfied  
Total $ 575,618
Appalachia Coal | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-04-01  
Performance obligations unsatisfied or partially unsatisfied  
Total $ 350,752
Expected timing of satisfaction period 6 months
Appalachia Coal | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01  
Performance obligations unsatisfied or partially unsatisfied  
Total $ 135,861
Expected timing of satisfaction period 1 year
Appalachia Coal | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01  
Performance obligations unsatisfied or partially unsatisfied  
Total $ 62,005
Expected timing of satisfaction period 1 year
Appalachia Coal | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01  
Performance obligations unsatisfied or partially unsatisfied  
Total $ 27,000
Expected timing of satisfaction period 1 year
v3.25.2
Income Taxes - Components (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Current:        
Federal $ 4,340 $ 4,506 $ 9,063 $ 9,224
State 285 317 605 655
Total current income tax expense 4,625 4,823 9,668 9,879
Deferred:        
Federal 593 (839) (184) (966)
State 130 (124) 46 (104)
Total deferred income tax expense 723 (963) (138) (1,070)
Income tax expense $ 5,348 $ 3,860 $ 9,530 $ 8,809
v3.25.2
Earnings per Limited Partner Unit (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Earnings Per Share [Abstract]        
Net Income (Loss) $ 59,410 $ 100,187 $ 133,393 $ 258,244
Distributions to participating securities (719) (1,688) (1,545) (3,368)
Undistributed earnings attributable to participating securities 0 (164) 0 (1,518)
Net income attributable to ARLP available to limited partners $ 58,691 $ 98,335 $ 131,848 $ 253,358
Weighted-average limited partner units outstanding - basic (in units) 128,428,024 128,061,981 128,347,131 127,866,439
Weighted-average limited partner units outstanding - diluted (in units) 128,428,024 128,061,981 128,347,131 127,866,439
Earnings per limited partner unit - basic (in dollars per unit) $ 0.46 $ 0.77 $ 1.03 $ 1.98
Earnings per limited partner unit - diluted (in dollars per unit) $ 0.46 $ 0.77 $ 1.03 $ 1.98
Anti-dilutive under the treasury stock method (in units) 605,000 1,726,000 715,000 1,945,000
v3.25.2
Segment Information - General (Details)
 6 Months Ended
Jun. 30, 2025
segment
Segment Reporting [Abstract]  
Number of reportable segments 4
Number of coal reportable segments 2
Number of mining complex 7
v3.25.2
Segment Information - Results (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Reportable segment results          
Revenues $ 547,463 $ 593,350 $ 1,087,931 $ 1,245,047  
Segment Adjusted EBITDA Expense 354,371 364,197 697,019 725,990  
Other segment items 1,060 544 2,368 1,547  
Segment Adjusted EBITDA 185,354 204,555 366,397 462,914  
Total assets 2,869,446 3,052,946 2,869,446 3,052,946 $ 2,915,730
Capital expenditures 67,017 101,442 153,793 225,288  
Coal royalties          
Reportable segment results          
Revenues 0 0 0 0  
Transportation          
Reportable segment results          
Revenues 8,558 26,701 18,758 57,454  
Transportation expenses 8,558 26,701 18,758 57,454  
Other revenues          
Reportable segment results          
Revenues 17,963 17,561 43,636 39,596  
Operating Segments, Excluding Corporate and Elimination          
Reportable segment results          
Revenues 531,731 579,413 1,051,135 1,212,619  
Operating Segments, Excluding Corporate and Elimination | Illinois Basin Coal          
Reportable segment results          
Revenues 350,247 354,761 693,242 752,602  
Operating Segments, Excluding Corporate and Elimination | Appalachia Coal          
Reportable segment results          
Revenues 145,983 188,212 285,479 386,226  
Operating Segments, Excluding Corporate and Elimination | Oil & Gas Royalties          
Reportable segment results          
Revenues 35,501 36,437 72,414 73,782  
Operating Segments, Excluding Corporate and Elimination | Coal Royalties          
Reportable segment results          
Revenues   3   9  
Operating Segments          
Reportable segment results          
Revenues 549,343 595,997 1,084,542 1,247,905  
Segment Adjusted EBITDA 185,354 204,555 366,397 462,914  
Total assets 2,705,035 2,674,689 2,705,035 2,674,689  
Capital expenditures 65,400 98,766 148,858 221,350  
Operating Segments | Illinois Basin Coal          
Reportable segment results          
Revenues 350,247 354,761 693,242 752,602  
Segment Adjusted EBITDA Expense 231,189 216,168 441,148 449,255  
Segment Adjusted EBITDA 114,229 118,023 240,402 258,301  
Total assets 1,076,634 1,011,972 1,076,634 1,011,972  
Capital expenditures 50,072 65,973 102,657 162,106  
Operating Segments | Illinois Basin Coal | Coal royalties          
Reportable segment results          
Revenues 0 0 0 0  
Operating Segments | Illinois Basin Coal | Transportation          
Reportable segment results          
Revenues 4,829 20,570 11,692 45,046  
Transportation expenses 4,829 20,570 11,692 45,046  
Operating Segments | Illinois Basin Coal | Other revenues          
Reportable segment results          
Revenues 1,577 2,218 4,475 4,953  
Operating Segments | Appalachia Coal          
Reportable segment results          
Revenues 145,983 188,212 285,479 386,226  
Segment Adjusted EBITDA Expense 112,829 136,762 233,397 254,264  
Segment Adjusted EBITDA 29,425 45,319 45,016 119,554  
Total assets 472,142 552,796 472,142 552,796  
Capital expenditures 15,226 32,793 46,054 59,244  
Operating Segments | Appalachia Coal | Coal royalties          
Reportable segment results          
Revenues 0 0 0 0  
Operating Segments | Appalachia Coal | Transportation          
Reportable segment results          
Revenues 3,729 6,131 7,066 12,408  
Transportation expenses 3,729 6,131 7,066 12,408  
Operating Segments | Appalachia Coal | Other revenues          
Reportable segment results          
Revenues 626 1,395 1,508 1,883  
Operating Segments | Oil & Gas Royalties          
Reportable segment results          
Revenues 35,501 36,437 72,414 73,782  
Segment Adjusted EBITDA Expense 4,558 4,635 10,279 9,575  
Other segment items 1,060 544 2,368 1,547  
Segment Adjusted EBITDA 29,883 31,258 59,767 62,660  
Total assets 847,300 793,416 847,300 793,416  
Operating Segments | Oil & Gas Royalties | Coal royalties          
Reportable segment results          
Revenues 0 0 0 0  
Operating Segments | Oil & Gas Royalties | Transportation          
Reportable segment results          
Revenues 0 0 0 0  
Operating Segments | Oil & Gas Royalties | Other revenues          
Reportable segment results          
Revenues 28 8 857 323  
Operating Segments | Coal Royalties          
Reportable segment results          
Revenues 17,612 16,587 33,407 35,295  
Segment Adjusted EBITDA Expense 5,795 6,632 12,195 12,896  
Segment Adjusted EBITDA 11,817 9,955 21,212 22,399  
Total assets 308,959 316,505 308,959 316,505  
Capital expenditures 102   147    
Operating Segments | Coal Royalties | Coal royalties          
Reportable segment results          
Revenues 17,612 16,584 33,407 35,286  
Operating Segments | Coal Royalties | Transportation          
Reportable segment results          
Revenues 0 0 0 0  
Operating Segments | Coal Royalties | Other revenues          
Reportable segment results          
Revenues 0 3 0 9  
Elimination          
Reportable segment results          
Revenues 17,612 16,584 33,407 35,286  
Elimination | Coal Royalties          
Reportable segment results          
Revenues 17,612 16,584 33,407 35,286  
Other, Corporate and Elimination          
Reportable segment results          
Revenues (17,612) (16,584) (33,407) (35,286)  
Total assets 164,411 378,257 164,411 378,257  
Capital expenditures 1,617 2,676 4,935 3,938  
Other, Corporate and Elimination | Other revenues          
Reportable segment results          
Revenues $ 15,732 $ 13,937 $ 36,796 $ 32,428  
v3.25.2
Segment Information - EBITDA Reconciliation (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]        
Segment Adjusted EBITDA $ 185,354 $ 204,555 $ 366,397 $ 462,914
General and administrative (20,380) (20,562) (40,960) (42,691)
Depreciation, depletion and amortization (76,340) (66,454) (144,969) (132,003)
Interest expense, net (8,682) (7,193) (16,249) (13,666)
Change in fair value of digital assets 12,856 (3,748) 7,282 8,105
Impairment loss on investments (25,000) 0 (25,000) 0
Litigation expense accrual 0 0 0 (15,250)
Noncontrolling interest 1,615 1,322 3,192 2,832
Income Before Income Taxes 66,373 105,369 146,115 269,885
Operating Segments        
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]        
Segment Adjusted EBITDA 185,354 204,555 366,397 462,914
Other, Corporate and Elimination        
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]        
Other, Corporate and Elimination profit (loss) $ (3,050) $ (2,551) $ (3,578) $ (356)
v3.25.2
Segment Information - Assets (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Segment Reporting, Asset Reconciling Item [Line Items]          
Total assets $ 2,869,446 $ 3,052,946 $ 2,869,446 $ 3,052,946 $ 2,915,730
Oil and gas acquisitions   2,900 2,700 4,700  
Capital expenditures 67,017 101,442 153,793 225,288  
Operating Segments          
Segment Reporting, Asset Reconciling Item [Line Items]          
Total assets 2,705,035 2,674,689 2,705,035 2,674,689  
Capital expenditures 65,400 98,766 148,858 221,350  
Other, Corporate and Elimination          
Segment Reporting, Asset Reconciling Item [Line Items]          
Total assets 164,411 378,257 164,411 378,257  
Capital expenditures $ 1,617 $ 2,676 $ 4,935 $ 3,938