Alliance Holdings GP, L.P.

CIK:0001344980|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
SALES AND OPERATING REVENUES:
Revenues	$ 457,036	$ 461,005
EXPENSES:
Outside coal purchases	1,374
General and administrative	17,145	16,447
Depreciation, depletion and amortization	61,848	65,127
Settlement gain	(80,000)
Total operating expenses	297,390	353,197
INCOME FROM OPERATIONS	159,646	107,808
Interest expense (net of interest capitalized for the three months ended March 31, 2018 and 2017 of $265 and $81, respectively)	(10,858)	(7,516)
Interest income	68	25
Equity method investment income	3,736	3,700
Equity securities income	3,724
Other (expense) income	(847)	533
INCOME BEFORE INCOME TAXES	155,469	104,550
INCOME TAX EXPENSE	(10)	(12)
NET INCOME	155,479	104,562
LESS: NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS	(51,759)	(49,551)
NET INCOME ATTRIBUTABLE TO ALLIANCE HOLDINGS GP, L.P. ("NET INCOME OF AHGP")	$ 103,720	$ 55,011
BASIC NET INCOME OF AHGP PER LIMITED PARTNER UNIT (in dollars per unit)	$ 1.73	$ 0.92
DILUTED NET INCOME OF AHGP PER LIMITED PARTNER UNIT (in dollars per unit)	1.73	0.92
DISTRIBUTIONS PAID PER LIMITED PARTNER UNIT (in dollars per unit)	$ 0.7425	$ 0.55
WEIGHTED AVERAGE NUMBER OF UNITS OUTSTANDING - BASIC (in units)	59,863,000	59,863,000
WEIGHTED AVERAGE NUMBER OF UNITS OUTSTANDING - DILUTED (in units)	59,863,000	59,863,000
Coal
SALES AND OPERATING REVENUES:
Revenues	$ 423,610	$ 438,744
EXPENSES:
Operating expenses (excluding depreciation, depletion and amortization)	277,238	262,027
Transportation revenues
SALES AND OPERATING REVENUES:
Revenues	19,785	9,596
EXPENSES:
Operating expenses (excluding depreciation, depletion and amortization)	19,785	9,596
Other sales and operating revenues
SALES AND OPERATING REVENUES:
Revenues	$ 13,641	$ 12,665

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
CASH FLOWS FROM OPERATING ACTIVITIES:	$ 224,311	$ 176,552
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(51,525)	(30,346)
Increase (decrease) in accounts payable and accrued liabilities	(15)	2,144
Proceeds from sale of property, plant and equipment	7	453
Contributions to equity method investments	(11,400)	(9,287)
Distributions received from investments in excess of cumulative earnings	736	1,191
Net cash used in investing activities	(62,197)	(35,845)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings under securitization facility	37,600
Payments under securitization facility	(70,000)
Borrowings under revolving credit facilities	70,000
Payments under revolving credit facilities	(100,000)	(25,000)
Payments on capital lease obligations	(6,974)	(6,678)
Payment of debt issuance costs		(6,664)
Contributions to consolidated company from affiliate noncontrolling interest		251
Net settlement of withholding taxes on ARLP’s issuance of units in deferred compensation plans	(2,081)	(2,988)
Contribution by limited partner - affiliate		800
Distributions paid by consolidated partnership to non-controlling interests	(23,257)	(19,810)
Distributions paid to Partners	(44,449)	(32,925)
Other	(896)	(190)
Net cash used in financing activities	(140,057)	(93,204)
NET CHANGE IN CASH AND CASH EQUIVALENTS	22,057	47,503
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	8,643	44,525
CASH AND CASH EQUIVALENTS AT END OF PERIOD	30,700	92,028
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for interest	2,995	4,708
NON-CASH INVESTING AND FINANCING ACTIVITY:
Accounts payable for purchase of property, plant and equipment	15,621	10,376
Assets acquired by capital lease	835
Market value of ARLP common units issued under deferred compensation plans before tax withholding requirements	$ 6,142	$ 8,149

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
CURRENT ASSETS:
Cash and cash equivalents	$ 30,700	$ 8,643
Trade receivables	157,798	181,671
Other receivables	229	146
Due from affiliates	11	25
Inventories, net	83,944	60,275
Advance royalties, net	2,856	4,510
Prepaid expenses and other assets	19,864	28,192
Total current assets	295,402	283,462
PROPERTY, PLANT AND EQUIPMENT:
Property, plant and equipment, at cost	2,983,666	2,934,188
Less accumulated depreciation, depletion and amortization	(1,520,732)	(1,457,532)
Total property, plant and equipment, net	1,462,934	1,476,656
OTHER ASSETS:
Advance royalties, net	50,800	39,660
Equity investments	158,669	147,964
Equity method securities	110,122	106,398
Goodwill	136,399	136,399
Other long-term assets	30,442	30,712
Total other assets	486,432	461,133
TOTAL ASSETS	2,244,768	2,221,251
CURRENT LIABILITIES:
Accounts payable	93,577	97,371
Due to affiliates		771
Accrued taxes other than income taxes	20,307	20,366
Accrued payroll and related expenses	34,530	35,801
Accrued interest	12,499	5,005
Workers' compensation and pneumoconiosis benefits	10,769	10,729
Current capital lease obligations	28,948	28,613
Other current liabilities	16,732	19,071
Current maturities, long-term debt, net	40,000	72,400
Total current liabilities	257,362	290,127
LONG-TERM LIABILITIES:
Long-term debt, excluding current maturities, net	386,703	415,937
Pneumoconiosis benefits	72,509	71,875
Accrued pension benefit	42,906	45,317
Workers' compensation	46,861	46,694
Asset retirement obligations	126,287	126,750
Long-term capital lease obligations	50,634	57,091
Other liabilities	20,055	14,587
Total long-term liabilities	745,955	778,251
Total liabilities	1,003,317	1,068,378
Alliance Holdings GP, L.P. ("AHGP") Partners' Capital:
Limited Partners - Common Unitholders 59,863,000 units outstanding	685,127	626,831
Accumulated other comprehensive loss	(34,087)	(34,820)
Total AHGP Partners' Capital	651,040	592,011
Noncontrolling interests	590,411	560,862
Total Partners? Capital	1,241,451	1,152,873
TOTAL LIABILITIES AND PARTNERS' CAPITAL	$ 2,244,768	$ 2,221,251