10-Q Filing

WARRIOR MET COAL, INC. CIK: 1691303 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001691303-22-000016`
Period End Date	20220331
Filing Date	20220505
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	hcc-20220331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 75 Income Statement 38 Cash Flow Statement 57 Stockholders Equity 8

Balance Sheet 75 line items

Line Item	Tag	Value	Unit	Period
Common stock par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock shares authorized (in shares)	`CommonStockSharesAuthorized`	140.00M	shares	Point-in-time
Common stock shares authorized (in shares)	`CommonStockSharesAuthorized`	140.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$395.84M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$434.05M	USD	Point-in-time
Common stock shares issued (in shares)	`CommonStockSharesIssued`	53.66M	shares	Point-in-time
Common stock shares issued (in shares)	`CommonStockSharesIssued`	53.83M	shares	Point-in-time
Short-term investments	`HeldToMaturitySecuritiesCurrent`	$8.51M	USD	Point-in-time
Short-term investments	`HeldToMaturitySecuritiesCurrent`	$8.51M	USD	Point-in-time
Common stock shares outstanding (in shares)	`CommonStockSharesOutstanding`	51.61M	shares	Point-in-time
Common stock shares outstanding (in shares)	`CommonStockSharesOutstanding`	51.44M	shares	Point-in-time
Preferred stock par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Trade accounts receivable	`AccountsReceivableNetCurrent`	$122.15M	USD	Point-in-time
Trade accounts receivable	`AccountsReceivableNetCurrent`	$260.48M	USD	Point-in-time
Preferred stock par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock shares authorized (in shares)	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock shares authorized (in shares)	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Inventories, net	`InventoryNet`	$59.62M	USD	Point-in-time
Inventories, net	`InventoryNet`	$110.53M	USD	Point-in-time
Preferred stock shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Prepaid expenses and other receivables	`PrepaidExpenseCurrent`	$26.05M	USD	Point-in-time
Preferred stock shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Prepaid expenses and other receivables	`PrepaidExpenseCurrent`	$41.09M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$627.20M	USD	Point-in-time
Preferred stock shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$839.61M	USD	Point-in-time
Preferred stock shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Treasury stock (in shares)	`TreasuryStockShares`	2.22M	shares	Point-in-time
Mineral interests, net	`MineralPropertiesNet`	$93.18M	USD	Point-in-time
Mineral interests, net	`MineralPropertiesNet`	$91.20M	USD	Point-in-time
Treasury stock (in shares)	`TreasuryStockShares`	2.22M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization`	$606.20M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization`	$603.41M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxAssetsNet`	$125.28M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxAssetsNet`	$92.68M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$15.14M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$13.66M	USD	Point-in-time
Total assets	`Assets`	$1.46B	USD	Point-in-time
Total assets	`Assets`	$1.64B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$33.83M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$60.45M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$54.85M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$55.74M	USD	Point-in-time
Short term financing lease liabilities	`FinanceLeaseLiabilityCurrent`	$23.62M	USD	Point-in-time
Short term financing lease liabilities	`FinanceLeaseLiabilityCurrent`	$21.91M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$9.83M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$17.59M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$155.68M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$122.13M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$340.08M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$339.81M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationsNoncurrent`	$69.02M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationsNoncurrent`	$65.54M	USD	Point-in-time
Long term financing lease liabilities	`FinanceLeaseLiabilityNoncurrent`	$24.85M	USD	Point-in-time
Long term financing lease liabilities	`FinanceLeaseLiabilityNoncurrent`	$28.43M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$36.32M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$35.11M	USD	Point-in-time
Total liabilities	`Liabilities`	$624.74M	USD	Point-in-time
Total liabilities	`Liabilities`	$592.23M	USD	Point-in-time
Common stock, $0.01 par value per share (Authorized -140,000,000 shares as of March 31, 2022 and December 31, 2021, 53,832,331 issued and 51,610,490 outstanding as of March 31, 2022 and 53,659,643 issued and 51,437,802 outstanding as of December 31, 2021)	`CommonStockValue`	$537.00K	USD	Point-in-time
Common stock, $0.01 par value per share (Authorized -140,000,000 shares as of March 31, 2022 and December 31, 2021, 53,832,331 issued and 51,610,490 outstanding as of March 31, 2022 and 53,659,643 issued and 51,437,802 outstanding as of December 31, 2021)	`CommonStockValue`	$537.00K	USD	Point-in-time
Preferred stock, $0.01 par value per share (10,000,000 shares authorized, no shares issued and outstanding)	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.01 par value per share (10,000,000 shares authorized, no shares issued and outstanding)	`PreferredStockValue`	-	USD	Point-in-time
Treasury stock, at cost (2,221,841 shares as of March 31, 2022 and December 31, 2021)	`TreasuryStockValue`	$50.58M	USD	Point-in-time
Treasury stock, at cost (2,221,841 shares as of March 31, 2022 and December 31, 2021)	`TreasuryStockValue`	$50.58M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$259.56M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$256.06M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$809.09M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$665.96M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$700.30M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$871.98M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$1.02B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$1.64B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$1.46B	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Total revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	$378.65M	USD	1 Quarter
Total revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	$213.76M	USD	1 Quarter
Cost of sales (exclusive of items shown separately below)	`CostOfGoodsAndServicesSold`	$135.34M	USD	1 Quarter
Cost of sales (exclusive of items shown separately below)	`CostOfGoodsAndServicesSold`	$154.35M	USD	1 Quarter
Cost of other revenues (exclusive of items shown separately below)	`OtherCostOfOperatingRevenue`	$7.04M	USD	1 Quarter
Cost of other revenues (exclusive of items shown separately below)	`OtherCostOfOperatingRevenue`	$7.79M	USD	1 Quarter
Depreciation and depletion	`DepreciationDepletionAndAmortization`	$25.80M	USD	1 Quarter
Depreciation and depletion	`DepreciationDepletionAndAmortization`	$32.90M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$13.93M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$7.64M	USD	1 Quarter
Business interruption	`BusinessInterruption`	-	USD	1 Quarter
Business interruption	`BusinessInterruption`	$6.69M	USD	1 Quarter
Idle mine	`IdleMineExpense`	$3.01M	USD	1 Quarter
Idle mine	`IdleMineExpense`	-	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$202.69M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$191.80M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$11.08M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$186.85M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-8.69M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-7.82M	USD	1 Quarter
Other income (expenses)	`OtherNonoperatingIncomeExpense`	$675.00K	USD	1 Quarter
Other income (expenses)	`OtherNonoperatingIncomeExpense`	$-109.00K	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.28M	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$179.70M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$33.45M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$23.63M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$146.25M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-21.36M	USD	1 Quarter
Net income (loss) per share-basic (in dollars per share)	`EarningsPerShareBasic`	$2.84	USD	1 Quarter
Net income (loss) per share-basic (in dollars per share)	`EarningsPerShareBasic`	$-0.42	USD	1 Quarter
Net income (loss) per share-diluted (in dollars per share)	`EarningsPerShareDiluted`	$2.83	USD	1 Quarter
Net income (loss) per share-diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.42	USD	1 Quarter
Weighted average number of shares outstanding-basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	51.53M	shares	1 Quarter
Weighted average number of shares outstanding-basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	51.27M	shares	1 Quarter
Weighted average number of shares outstanding-diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	51.27M	shares	1 Quarter
Weighted average number of shares outstanding-diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	51.63M	shares	1 Quarter
Dividends per share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.05	USD	1 Quarter
Dividends per share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.05	USD	1 Quarter

Cash Flow Statement 57 line items

Line Item	Tag	Value	Unit	Period
Cash acquired from acquisition	`CashAcquiredFromAcquisition`	$2.80M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$146.25M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-21.36M	USD	1 Quarter
Depreciation and depletion	`DepreciationDepletionAndAmortization`	$25.80M	USD	1 Quarter
Depreciation and depletion	`DepreciationDepletionAndAmortization`	$32.90M	USD	1 Quarter
Deferred income tax expense	`DeferredIncomeTaxExpenseBenefit`	$33.38M	USD	1 Quarter
Deferred income tax expense	`DeferredIncomeTaxExpenseBenefit`	$23.63M	USD	1 Quarter
Stock based compensation expense	`ShareBasedCompensation`	$1.70M	USD	1 Quarter
Stock based compensation expense	`ShareBasedCompensation`	$7.22M	USD	1 Quarter
Amortization of debt issuance costs and debt discount	`AmortizationOfFinancingCostsAndDiscounts`	$522.00K	USD	1 Quarter
Amortization of debt issuance costs and debt discount	`AmortizationOfFinancingCostsAndDiscounts`	$425.00K	USD	1 Quarter
Accretion of asset retirement obligations	`AssetRetirementObligationAccretionExpense`	$867.00K	USD	1 Quarter
Accretion of asset retirement obligations	`AssetRetirementObligationAccretionExpense`	$805.00K	USD	1 Quarter
Mark-to-market loss on gas hedges	`DerivativeGainLossOnDerivativeNet`	$-11.68M	USD	1 Quarter
Mark-to-market loss on gas hedges	`DerivativeGainLossOnDerivativeNet`	-	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$138.33M	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-7.18M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$16.11M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$39.45M	USD	1 Quarter
Prepaid expenses and other receivables	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-10.19M	USD	1 Quarter
Prepaid expenses and other receivables	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-7.15M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$13.09M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$4.96M	USD	1 Quarter
Accrued expenses and other current liabilities	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$-5.46M	USD	1 Quarter
Accrued expenses and other current liabilities	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$-1.50M	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	$3.46M	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	$6.35M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$45.22M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$70.14M	USD	1 Quarter
Purchase of property, plant and equipment	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$10.53M	USD	1 Quarter
Purchase of property, plant and equipment	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$9.48M	USD	1 Quarter
Deferred mine development costs	`PaymentsToAcquireMiningAssets`	$9.89M	USD	1 Quarter
Deferred mine development costs	`PaymentsToAcquireMiningAssets`	$12.33M	USD	1 Quarter
Acquisition of Black Warrior Methane and Black Warrior Transmission, net of $2.8 million cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$-2.53M	USD	1 Quarter
Acquisition of Black Warrior Methane and Black Warrior Transmission, net of $2.8 million cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	1 Quarter
Proceeds from sale of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	-	USD	1 Quarter
Proceeds from sale of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$20.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-17.89M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-21.79M	USD	1 Quarter
Dividends paid	`PaymentsOfDividends`	$2.61M	USD	1 Quarter
Dividends paid	`PaymentsOfDividends`	$3.13M	USD	1 Quarter
Principal repayments of finance lease obligations	`FinanceLeasePrincipalPayments`	$8.25M	USD	1 Quarter
Principal repayments of finance lease obligations	`FinanceLeasePrincipalPayments`	$7.20M	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$-3.72M	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$-2.54M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-13.40M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-14.04M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$10.03M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$38.21M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$395.84M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$211.92M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$221.95M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$434.05M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$395.84M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$211.92M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$221.95M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$434.05M	USD	Point-in-time

Stockholders Equity 8 line items

Line Item	Tag	Value	Unit	Period
Balance at beginning of period	`StockholdersEquity`	$700.30M	USD	Point-in-time
Balance at beginning of period	`StockholdersEquity`	$871.98M	USD	Point-in-time
Balance at beginning of period	`StockholdersEquity`	$1.02B	USD	Point-in-time
Net income (loss)	`NetIncomeLoss`	$146.25M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-21.36M	USD	1 Quarter
Balance at end of period	`StockholdersEquity`	$700.30M	USD	Point-in-time
Balance at end of period	`StockholdersEquity`	$871.98M	USD	Point-in-time
Balance at end of period	`StockholdersEquity`	$1.02B	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.