Alliance Resource Partners(ARLP) - 2022 Q1 - Quarterly Report

PART I FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS (Unaudited) Unaudited condensed consolidated financial statements and notes detail financial position, performance, and cash flows for Q1 2022 Condensed Consolidated Balance Sheets Condensed Consolidated Balance Sheets (in thousands) | ASSETS / LIABILITIES AND PARTNERS' CAPITAL | March 31, 2022 (in thousands) | December 31, 2021 (in thousands) | | :----------------------------------------- | :---------------------------- | :------------------------------- | | Total current assets | $404,697 | $339,228 | | Total property, plant and equipment, net | $1,691,606 | $1,698,678 | | Total other assets | $129,244 | $121,500 | | TOTAL ASSETS | $2,225,547 | $2,159,406 | | Total current liabilities | $202,056 | $177,577 | | Total long-term liabilities | $790,098 | $755,760 | | Total liabilities | $992,154 | $933,337 | | Total Partners' Capital | $1,233,393 | $1,226,069 | Condensed Consolidated Statements of Income Condensed Consolidated Statements of Income (in thousands) | Metric | Three Months Ended March 31, 2022 (in thousands) | Three Months Ended March 31, 2021 (in thousands) | | :----------------------------------------- | :----------------------------------------------- | :----------------------------------------------- | | Coal sales | $388,360 | $287,487 | | Oil & gas royalties | $30,927 | $13,999 | | Total revenues | $460,863 | $318,622 | | Total operating expenses | $373,028 | $282,294 | | Income from operations | $87,835 | $36,328 | | Income before income taxes | $79,657 | $24,814 | | Income tax expense (benefit) | $42,715 | $(12) | | Net income attributable to ARLP | $36,652 | $24,748 | | Earnings per limited partner unit - basic and diluted | $0.28 | $0.19 | Condensed Consolidated Statements of Comprehensive Income Condensed Consolidated Statements of Comprehensive Income (in thousands) | Metric | Three Months Ended March 31, 2022 (in thousands) | Three Months Ended March 31, 2021 (in thousands) | | :----------------------------------------- | :----------------------------------------------- | :----------------------------------------------- | | Net income | $36,942 | $24,826 | | Other comprehensive income | $790 | $2,231 | | Comprehensive income attributable to ARLP | $37,442 | $26,979 | Condensed Consolidated Statements of Cash Flows Condensed Consolidated Statements of Cash Flows (in thousands) | Metric | Three Months Ended March 31, 2022 (in thousands) | Three Months Ended March 31, 2021 (in thousands) | | :----------------------------------------- | :----------------------------------------------- | :----------------------------------------------- | | Cash flows from operating activities | $89,036 | $54,647 | | Net cash used in investing activities | $(45,525) | $(22,737) | | Net cash used in financing activities | $(37,723) | $(53,041) | | Net change in cash and cash equivalents | $5,788 | $(21,131) | | Cash and cash equivalents at end of period | $128,191 | $34,443 | Notes to Condensed Consolidated Financial Statements This section provides detailed notes explaining the company's organization, accounting policies, debt, taxes, equity, segment information, and subsequent events 1. Organization and Presentation This note describes ARLP's formation, NASDAQ listing, and a significant tax status change for Alliance Minerals - ARLP is a Delaware limited partnership listed on the NASDAQ Global Select Market under the ticker symbol "ARLP", formed in May 1999[18] - Alliance Minerals changed its federal income tax status from a pass-through entity to a taxable entity effective January 1, 2022, anticipated to reduce the total income tax burden on oil & gas royalties[18] 2. New Accounting Standards This note discusses the adoption of new accounting standards and their impact on financial statements - Adopted ASU 2021-10, Government Assistance (Topic 832), on January 1, 2022, which did not have a material impact on the condensed consolidated financial statements[26] 3. Contingencies This note outlines ongoing litigation related to labor practices and management's assessment of potential financial impact - The company is party to litigation alleging violations of the Fair Labor Standards Act and Kentucky Wage and Hour Act related to compensation for "donning" and "doffing" equipment and overtime calculation[27] - Management believes the plaintiffs' claims are without merit and intends to defend the litigation vigorously, not expecting a material adverse effect on results of operations or financial position[28][29] 4. Inventories This note provides a breakdown of inventory values, including coal and supplies, for the reported periods Inventories (in thousands) | Inventories (in thousands) | March 31, 2022 | December 31, 2021 | | :------------------------- | :------------- | :---------------- | | Coal | $56,084 | $24,845 | | Supplies, net | $39,661 | $35,457 | | Total inventories, net | $95,745 | $60,302 | 5. Fair Value Measurements This note details the fair value measurement of long-term debt, classified as a Level 2 measurement Fair Value Measurements (in thousands) | Fair Value Measurements (in thousands) | March 31, 2022 (Level 2) | December 31, 2021 (Level 2) | | :------------------------------------- | :----------------------- | :-------------------------- | | Long-term debt | $438,553 | $457,758 | - The estimated fair value of long-term debt is based on currently available interest rates in active markets for similar debt, classified as a Level 2 measurement[33] 6. Long-Term Debt This note provides details on the company's long-term debt, credit facilities, and compliance with debt covenants Long-Term Debt (in thousands) | Long-Term Debt (in thousands) | March 31, 2022 | December 31, 2021 | | :---------------------------- | :------------- | :---------------- | | Senior notes | $400,000 | $400,000 | | November 2019 equipment financing | $29,295 | $31,972 | | Total long-term debt, net | $423,251 | $427,009 | - As of March 31, 2022, the company had $44.1 million of letters of credit outstanding and $415.4 million available for borrowing under its $459.5 million Revolving Credit Facility[35] - The company was in compliance with all covenants of the Credit Agreement as of March 31, 2022, with a debt to cash flow ratio of 0.88 to 1.0 and a cash flow to interest expense ratio of 12.91 to 1.0[36] - The $100.0 million accounts receivable securitization facility was reduced to $60.0 million in January 2021 and extended to January 2023, with no outstanding balance as of March 31, 2022[41] 7. Income Taxes This note details income tax components and the impact of Alliance Minerals' tax election on the effective tax rate Income Tax Components (in thousands) | Income Tax Components (in thousands) | Three Months Ended March 31, 2022 | Three Months Ended March 31, 2021 | | :----------------------------------- | :-------------------------------- | :-------------------------------- | | Current Federal | $5,034 | $(1) | | Deferred Federal | $34,920 | $(11) | | Total Income tax expense (benefit) | $42,715 | $(12) | - Alliance Minerals' Tax Election resulted in a one-time non-cash deferred tax liability of $37.3 million and a corresponding increase to income tax expense for Q1 2022, reducing net income by approximately $0.29 per basic and diluted limited partner unit[49] - The effective income tax rate for Q1 2022 was greater than the federal statutory rate primarily due to the Tax Election, partially offset by the portion of income not subject to income taxes[51] 8. Variable Interest Entities This note explains the consolidation of Cavalier Minerals as a VIE and the equity method accounting for AllDale III - Cavalier Minerals is consolidated as a variable interest entity (VIE) because the company is the managing member and a substantial equity owner, with Bluegrass Minerals' equity accounted for as noncontrolling interest[57][58] - AllDale III is also a VIE, but the company is not the primary beneficiary and accounts for its 13.9% ownership interest using the equity method[59][60] 9. Investment This note provides a summary of the equity method investment activity for AllDale III AllDale III Equity Method Investment (in thousands) | AllDale III Equity Method Investment (in thousands) | Three Months Ended March 31, 2022 | Three Months Ended March 31, 2021 | | :-------------------------------------------------- | :-------------------------------- | :-------------------------------- | | Beginning balance | $26,325 | $27,268 | | Equity method investment income | $883 | $62 | | Distributions received | $(1,014) | $(423) | | Ending balance | $26,194 | $26,907 | 10. Partners' Capital This note details distributions paid and declared, as well as unit repurchase activity and changes in partners' capital Distributions Paid/Declared | Distributions Paid/Declared | Per Unit Cash Distribution (2022) | Total Distribution (in thousands) (2022) | | :-------------------------- | :-------------------------------- | :--------------------------------------- | | February 14, 2022 | $0.2500 | $32,750 | | May 13, 2022 (declared) | $0.3500 | — | | Total | $0.6000 | $32,750 | - No unit repurchases were made during the three months ended March 31, 2022, with 5,460,639 units repurchased for an aggregate of $93.5 million since inception, leaving $6.5 million remaining authorization[66] Partners' Capital (in thousands) | Partners' Capital (in thousands) | March 31, 2022 | January 1, 2022 | | :------------------------------- | :------------- | :-------------- | | Balance at beginning of period | $1,226,069 | $1,072,267 | | Net income attributable to ARLP | $36,652 | $24,748 | | Balance at end of period | $1,233,393 | $1,099,906 | 11. Revenue from Contracts with Customers This note provides a breakdown of revenues by type and details unsatisfied coal supply contracts Revenue Type (in thousands) | Revenue Type (in thousands) | Three Months Ended March 31, 2022 | Three Months Ended March 31, 2021 | | :-------------------------- | :-------------------------------- | :-------------------------------- | | Coal sales | $388,360 | $287,487 | | Oil & gas royalties | $30,927 | $13,999 | | Transportation revenues | $29,372 | $11,068 | | Other revenues | $12,204 | $6,068 | | Total revenues | $460,863 | $318,622 | Unsatisfied Coal Supply Contracts (in thousands) | Unsatisfied Coal Supply Contracts (in thousands) | 2022 | 2023 | 2024 | Thereafter | Total | | :----------------------------------------------- | :---------- | :---------- | :---------- | :--------- | :---------- | | Illinois Basin Coal Operations coal revenues | $835,565 | $467,537 | $244,936 | $35,747 | $1,583,785 | | Appalachia Coal Operations coal revenues | $436,639 | $235,295 | $136,936 | — | $808,870 | | Total coal revenues | $1,272,204 | $702,832 | $381,872 | $35,747 | $2,392,655 | 12. Earnings per Limited Partner Unit This note presents the calculation of basic and diluted earnings per limited partner unit Earnings Per Unit (in thousands, except per unit data) | Earnings Per Unit (in thousands, except per unit data) | Three Months Ended March 31, 2022 | Three Months Ended March 31, 2021 | | :----------------------------------------------------- | :-------------------------------- | :-------------------------------- | | Net income attributable to ARLP | $36,652 | $24,748 | | Net income attributable to ARLP available to limited partners | $35,100 | $24,330 | | Weighted-average limited partner units outstanding | 127,195 | 127,195 | | Earnings per limited partner unit - basic and diluted | $0.28 | $0.19 | 13. Workers' Compensation and Pneumoconiosis This note details the liabilities and net periodic benefit costs associated with workers' compensation and pneumoconiosis claims Workers' Compensation Liability (in thousands) | Workers' Compensation Liability (in thousands) | Three Months Ended March 31, 2022 | Three Months Ended March 31, 2021 | | :--------------------------------------------- | :-------------------------------- | :-------------------------------- | | Beginning balance | $53,448 | $54,739 | | Accruals increase | $2,275 | $1,672 | | Payments | $(2,804) | $(2,410) | | Ending balance | $53,206 | $54,233 | Pneumoconiosis Net Periodic Benefit Cost (in thousands) | Pneumoconiosis Net Periodic Benefit Cost (in thousands) | Three Months Ended March 31, 2022 | Three Months Ended March 31, 2021 | | :------------------------------------------------------ | :-------------------------------- | :-------------------------------- | | Service cost | $947 | $1,031 | | Interest cost | $747 | $636 | | Net periodic benefit cost | $1,954 | $2,710 | 14. Common Unit-Based Compensation Plans This note outlines activity and expense related to non-vested LTIP grants, SERP, and Directors' Deferred Compensation Plans Non-Vested LTIP Grants | Non-Vested LTIP Grants | Number of Units | | :--------------------- | :-------------- | | At January 1, 2022 | 3,130,475 | | Granted | 687,719 | | Forfeited | (17,063) | | At March 31, 2022 | 3,801,131 | - LTIP expense for Q1 2022 was $2.3 million, compared to $0.7 million for Q1 2021, with total unrecognized compensation expense of $17.6 million expected over a weighted-average period of 1.6 years[80] SERP and Directors' Deferred Compensation Plan Activity | SERP and Directors' Deferred Compensation Plan Activity | Number of Units | | :------------------------------------------------------ | :-------------- | | Phantom units outstanding as of January 1, 2022 | 668,698 | | Granted | 12,370 | | Phantom units outstanding as of March 31, 2022 | 681,068 | - Total SERP and Directors' Deferred Compensation Plan expense was $0.2 million for Q1 2022, compared to $0.04 million for Q1 2021[84] 15. Components of Pension Plan Net Periodic Benefit Costs This note details the components of pension plan net periodic benefit costs and expected contributions Pension Plan Net Periodic Benefit Cost (in thousands) | Pension Plan Net Periodic Benefit Cost (in thousands) | Three Months Ended March 31, 2022 | Three Months Ended March 31, 2021 | | :---------------------------------------------------- | :-------------------------------- | :-------------------------------- | | Interest cost | $932 | $860 | | Expected return on plan assets | $(1,665) | $(1,671) | | Net periodic benefit cost | $(203) | $377 | - The company does not expect to make contributions to the Pension Plan during 2022 due to contribution relief provided by the American Rescue Plan Act[88] 16. Segment Information This note provides financial and operational data for the company's four reportable segments and other categories - The company operates in four reportable segments: Illinois Basin Coal Operations, Appalachia Coal Operations, Oil & Gas Royalties, and Coal Royalties, along with an "Other, Corporate and Elimination" category[89][94] - The Oil & Gas Royalties segment includes approximately 57,000 net royalty acres primarily in the Permian, Anadarko, and Williston basins[110] Segment Performance (in thousands) | Segment Performance (in thousands) | Three Months Ended March 31, 2022 | Three Months Ended March 31, 2021 | | :--------------------------------- | :-------------------------------- | :-------------------------------- | | Total revenues | $460,863 | $318,622 | | Segment Adjusted EBITDA | $170,904 | $109,821 | | Total assets | $2,225,547 | $2,151,180 | | Capital expenditures | $59,153 | $31,437 | 17. Subsequent Events This note discloses significant events occurring after the reporting period, including new investments - On April 5, 2022, the company committed to invest up to $50 million in Francis Renewable Energy, LLC (EV charging stations) through preferred equity interests, with an initial $20 million funded via a convertible note[101][102] - On April 29, 2022, the company purchased $32.6 million of Series D Preferred Stock from Infinitum Electric, Inc., to be accounted for as an equity investment without a readily determinable fair value[103][106] ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS This section provides management's perspective on the company's financial performance, condition, and operational results for Q1 2022 compared to Q1 2021 Summary of Business and Operations ARLP is a diversified natural resource company generating income from coal production/marketing and oil & gas mineral interests - ARLP is a diversified natural resource company generating operating and royalty income from coal production/marketing and oil & gas mineral interests, positioning itself as the second-largest coal producer in the eastern United States[109] - The company operates in four reportable segments: Illinois Basin Coal Operations, Appalachia Coal Operations, Oil & Gas Royalties, and Coal Royalties, with an additional "Other, Corporate and Elimination" category[110] Financial Performance Comparison (Three Months Ended March 31, 2022 Compared to Three Months Ended March 31, 2021) This section compares key financial metrics and operational performance for Q1 2022 against Q1 2021 Financial Performance Comparison (in thousands) | Metric | Three Months Ended March 31, 2022 (in thousands) | Three Months Ended March 31, 2021 (in thousands) | Change (%) | | :----------------------------------------- | :----------------------------------------------- | :----------------------------------------------- | :--------- | | Total revenues | $460,863 | $318,622 | 44.6% | | Income before income taxes | $79,657 | $24,814 | 221.0% | | Net income attributable to ARLP | $36,652 | $24,748 | 48.1% | | Earnings per limited partner unit | $0.28 | $0.19 | 47.4% | Coal Performance | Coal Performance | Three Months Ended March 31, 2022 | Three Months Ended March 31, 2021 | Change (%) | | :----------------------------------------- | :-------------------------------- | :-------------------------------- | :--------- | | Tons sold (in thousands) | 8,162 | 6,828 | 19.5% | | Coal sales (in thousands) | $388,360 | $287,487 | 35.1% | | Average sales price per ton | $47.58 | $42.10 | 13.0% | Oil & Gas Royalties Performance | Oil & Gas Royalties Performance | Three Months Ended March 31, 2022 | Three Months Ended March 31, 2021 | Change (%) | | :----------------------------------------- | :-------------------------------- | :-------------------------------- | :--------- | | BOE sold (in thousands) | 505 | 400 | 26.3% | | Royalties (in thousands) | $30,927 | $13,999 | 120.9% | | Average sales price per BOE | $61.26 | $35.02 | 74.9% | - Segment Adjusted EBITDA Expense for coal operations increased 32.3% to $268.5 million, with per-ton expense rising 10.7% to $32.90, driven by higher sales volumes and inflationary cost pressures, partially offset by decreased production taxes and royalty expenses[120][121][122] - Other revenues increased by $6.1 million to $12.2 million, primarily due to increased sales of mining technology products by the Matrix Design subsidiary[124] - Income tax expense increased to $42.7 million from a $0.01 million benefit, primarily due to a one-time $37.3 million non-cash charge from Alliance Minerals' tax election[125] Segment Adjusted EBITDA (in thousands) | Segment Adjusted EBITDA (in thousands) | Three Months Ended March 31, 2022 | Three Months Ended March 31, 2021 | Increase (%) | | :------------------------------------- | :-------------------------------- | :-------------------------------- | :----------- | | Illinois Basin Coal Operations | $78,215 | $57,673 | 35.6% | | Appalachia Coal Operations | $51,103 | $31,506 | 62.2% | | Oil & Gas Royalties | $28,552 | $11,946 | 139.0% | | Coal Royalties | $10,348 | $7,273 | 42.3% | | Total Segment Adjusted EBITDA | $170,904 | $109,821 | 55.6% | Reconciliation of Non-GAAP Financial Measures This section defines and reconciles non-GAAP financial measures, specifically Segment Adjusted EBITDA and Segment Adjusted EBITDA Expense - 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, used to evaluate core operating performance[135] Reconciliation to Net Income (in thousands) | Reconciliation to Net Income (in thousands) | Three Months Ended March 31, 2022 | Three Months Ended March 31, 2021 | | :------------------------------------------ | :-------------------------------- | :-------------------------------- | | Consolidated Segment Adjusted EBITDA | $170,904 | $109,821 | | Net income attributable to ARLP | $36,652 | $24,748 | - Segment Adjusted EBITDA Expense includes operating expenses and other income (expense), excluding transportation expenses, and is used to assess the operating performance of segments[138] Reconciliation to Operating Expenses (in thousands) | Reconciliation to Operating Expenses (in thousands) | Three Months Ended March 31, 2022 | Three Months Ended March 31, 2021 | | :-------------------------------------------------- | :-------------------------------- | :-------------------------------- | | Segment Adjusted EBITDA Expense | $261,180 | $197,717 | | Operating expenses (excluding DDA) | $261,746 | $196,520 | Liquidity and Capital Resources This section discusses the company's liquidity position, cash flow activities, and anticipated capital expenditures - Management anticipates sufficient liquidity from existing cash balances, future cash flows from operations and investments, and borrowings under credit facilities to meet financial obligations[142] - Cash provided by operating activities increased to $89.0 million for Q1 2022 from $54.6 million for Q1 2021, primarily due to increased net income and favorable working capital changes[144] - Net cash used in investing activities increased to $45.5 million for Q1 2022 from $22.7 million for Q1 2021, mainly due to an increase in capital expenditures[145] - Net cash used in financing activities decreased to $37.7 million for Q1 2022 from $53.0 million for Q1 2021, primarily due to reduced borrowings and payments on credit facilities, partially offset by increased cash distributions[145] - Anticipated total capital expenditures for 2022 are estimated in a range of $230.0 million to $240.0 million, with average estimated annual maintenance capital expenditures over the next five years of approximately $5.66 per ton produced[148] Related-Party Transactions This section outlines various transactions and relationships with related parties - Related-party transactions include coal mineral leases with foundations, use of aircraft, administrative services for Mr. Craft's oil & gas interests, and interests in WKY CoalPlay, Bluegrass Minerals, and AllDale III[150] New Accounting Standards This section refers to Note 2 for details on recently adopted accounting standards - Refer to Note 2 for a discussion of new accounting standards[151] Other Information (Insurance) This section provides information regarding the company's annual property and casualty insurance program - The company renewed its annual property and casualty insurance program effective December 1, 2021, with a maximum limit of $100.0 million per occurrence and a 10% participating interest retained in the commercial property program[152] ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK The company faces significant commodity price risk for coal, oil, and natural gas, credit risk with utilities and brokerage firms, and interest rate risk on variable-rate borrowings - The company has significant exposure to commodity price risk for coal, oil, and natural gas, with short-term coal contracts increasing exposure to price declines and oil & gas prices significantly impacting royalty revenues[155] - Credit risk is primarily with U.S. electric utilities and global brokerage firms, managed by evaluating creditworthiness and taking steps like obtaining letters of credit or prepayments[157] - Interest rate risk exists on variable-rate borrowings under the Revolving Credit Facility and Securitization Facility, though historically earnings have not been materially affected, and no interest rate derivatives are currently used[159] - The company does not have material exposure to currency exchange-rate risks as almost all transactions are denominated in United States dollars[158] ITEM 4. CONTROLS AND PROCEDURES Management concluded that disclosure controls and procedures were effective as of March 31, 2022, with no material changes to internal control over financial reporting - Disclosure controls and procedures were evaluated under the supervision of management, including the CEO and CFO, and concluded to be effective as of March 31, 2022[161] - No changes in internal control over financial reporting were identified during the quarterly period ended March 31, 2022, that materially affected, or are reasonably likely to materially affect, internal control over financial reporting[162] FORWARD-LOOKING STATEMENTS This section identifies forward-looking statements and outlines numerous factors that could cause actual results to differ materially from these statements - Forward-looking statements are based on current expectations and beliefs, but are subject to numerous uncertainties and business risks that could cause actual results to differ materially[164] - Key risk factors include macroeconomic and market volatility, changes in coal, oil, and natural gas prices and demand, environmental concerns, regulatory changes, operational disruptions, and the success of new investments[164][167] PART II OTHER INFORMATION ITEM 1. LEGAL PROCEEDINGS The company is involved in multiple lawsuits alleging labor law violations, with potential damages ranging from $22.2 million to $143.7 million - Multiple lawsuits allege violations of the Fair Labor Standards Act and Kentucky Wage and Hour Act related to compensation for "donning" and "doffing" equipment and overtime calculation[170] - The alleged damages in these lawsuits collectively range from approximately $22.2 million to $143.7 million[170] - Management believes the claims are without merit and intends to vigorously defend the litigation, not expecting a material adverse effect on the business, financial position, or results of operations[170] ITEM 1A. RISK FACTORS This section directs readers to the risk factors discussed in the Annual Report on Form 10-K, emphasizing potential unknown or immaterial risks - Readers should carefully consider the risk factors discussed in Part I - Item 1A. "Risk Factors" in the Annual Report on Form 10-K for the year ended December 31, 2021[171] - Additional risks and uncertainties not currently known or deemed immaterial could also materially adversely affect the business, financial condition, and/or operating results in the future[171] ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS The company has a unit repurchase program with $6.5 million remaining authorization, having repurchased $93.5 million in units since inception - A unit repurchase program was established in May 2018, authorizing the repurchase of up to $100 million of ARLP common units, with no time limit[172] - No unit repurchases were made during the three months ended March 31, 2022[173] - Since inception, 5,460,639 units have been repurchased and retired for an aggregate purchase price of $93.5 million, leaving $6.5 million remaining authorized under the program[173] ITEM 3. DEFAULTS UPON SENIOR SECURITIES No defaults upon senior securities were reported for the period - No defaults upon senior securities were reported[173] ITEM 4. MINE SAFETY DISCLOSURES Information concerning mine safety violations and other regulatory matters is included in Exhibit 95.1 of this Quarterly Report on Form 10-Q - Information concerning mine safety violations or other regulatory matters is included in Exhibit 95.1 to this Quarterly Report on Form 10-Q[174] ITEM 5. OTHER INFORMATION This section states that there is no other information to report - No other information is reported in this section[176] ITEM 6. EXHIBITS This section lists all exhibits filed with the Form 10-Q, including organizational documents, credit agreements, and certifications - The report includes various exhibits such as organizational documents (e.g., Fourth Amended and Restated Agreement of Limited Partnership), amendments to credit facilities, and certifications (e.g., Section 302 and 906 of the Sarbanes-Oxley Act)[176][177][179] SIGNATURES The report is duly signed by key executives of Alliance Resource Management GP, LLC, the general partner of Alliance Resource Partners, L.P - The report is signed by Joseph W. Craft, III, President, Chief Executive Officer and Chairman of Alliance Resource Management GP, LLC, and Megan J. Cordle, Vice President, Controller and Chief Accounting Officer[181]