Hallador能源公司2025年季度报告

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-acceleratedfiler, a smaller reporting company, or an emerging growth company. See the definitions of “large acceleratedfiler,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule12b-2 of the If an emerging growth company, indicate by check mark if the registrant has elected not to use the extendedtransition period for complying with any new or revised financial accounting standards provided pursuant to As of May 8, 2025, we had42,976,180shares of common stock outstanding. TABLE OF CONTENTS Hallador Energy CompanyCondensed Consolidated Balance Sheets(in thousands, except per share data)(unaudited) Hallador Energy CompanyCondensed Consolidated Statements of Operations(in thousands, except per share data) See accompanying notes to the condensed consolidated financial statements. Hallador Energy CompanyCondensed Consolidated Statements of Cash Flows(in thousands) Hallador Energy CompanyCondensed Consolidated Statements of Cash Flows(in thousands) Table of Contents Hallador Energy CompanyNotesto Condensed Consolidated Financial Statements (1)GENERAL BUSINESS The condensed consolidated financial statements include the accounts of Hallador Energy Company(hereinafter known as “we, us, or our”) and its wholly owned subsidiaries Hallador Power Company,LLC (“Hallador Power”), Sunrise Coal, LLC (“Sunrise”),and Hourglass Sands, LLC(“Hourglass”),as well as Hallador Power andSunrise’s wholly owned subsidiaries. Our business is organized based on the services and products we provide intwosegments: (i) ElectricOperations and (ii) Coal Operations. The Chief Operating Decision Maker (“CODM”), who is theCompany’s Chief Executive Officer, reviews and assesses operating performance measures related to In addition to these reportable segments, the Company has a “Corporate and Other and Eliminations”category, which is not significant enough, on a stand-alone basis, to be considered an operatingsegment. Corporate and Other and Eliminations primarily consist of unallocated corporate costs andactivities,including a50% interest in Sunrise Energy, LLC (“Sunrise Energy”), a private gas The Electric Operations reportable segment includes electric power generation facilities of the The Coal Operations reportable segment includes our currently operating underground miningcomplex Oaktown 1. We have other mining complexes and locations which were idled during theyear ended December31,2024. All significant intercompany accounts and transactions have been eliminated.Certainreclassifications have been made to the Company’s prior period condensed consolidated financialinformation to conform to the current period presentation. These presentation changes did not impact The interim financial data is unaudited; however, in our opinion, it includes all adjustments,consisting only of normal recurring adjustments necessary for a fair statement of the results for theinterim periods. The condensed consolidated financial statements included herein have been preparedpursuant to the Securities and Exchange Commission’s (the “SEC”)rulesand regulations; The results of operations and cash flows for the three months ended March31,2025, are notnecessarily indicative of the results to be expected for future quarters or for theyear ending Our organization and business, the accounting policies we follow, and other information arecontained in the notes to our consolidated financial statements filed as part of our2024AnnualReport on Form10-K.This quarterly report should be read in conjunction with such Annual Reporton Form10-K. (2)RECENT ACCOUNTING PRONOUNCEMENTS Recent Accounting Pronouncements - Adopted For the year ended December 31, 2024, the Company retrospectively adopted Accounting StandardsUpdate ("ASU") 2023-07,Segment Reporting (Topic 280): Improvements to Reportable SegmentDisclosures("ASU 2023-07"). See “Note 14 – Segments of Business” for enhanced disclosures Recent Accounting Pronouncements – Not Yet Adopted In December2023, the Financial Accounting Standards Board ("FASB") issued ASU 2023-09,Income Taxes (Topic 740): Improvements to Income Tax Disclosures("ASU 2023-09"). ASU2023-09 primarily requires enhanced disclosures to (1)disclose specific categories in the ratereconciliation, (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 aremet, and (3)disclose income (loss) from continuing operations before income tax (benefit)disaggregated between domestic and foreign. ASU 2023-09 is effective for fiscalyears beginning In November 2024, the FASB issuedASU 2024-04,Debt - Debt with Conversion and Other Options(Subtopic 470-20): Induced Conversion of Convertible Debt Instruments. The objective of thestandard is to improve the relevance and consistency in application