Hallador Energy Company
(NASDAQ:HNRG)

Hallador Energy Company, through its subsidiaries, engages in the production of steam coal in the Illinois basin for the electric power generation industry. The company owns the Oaktown 1 and Oaktown 2 underground mines in Oaktown, Indiana; and Ace in the Hole mine located near Clay City, Indiana. I...

Website: http://www.halladorenergy.com

Founded: 1949

Full Time Employees: 915

Sector: Energy

Industry: Thermal Coal

Energy

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Income Statements:

Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-09-30	2015-06-30	2015-03-31	2014-03-31	2013-12-31	2013-06-30	2012-12-31	2011-12-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30

sales and operating revenues:
electric sales	65,096,000	71,583,000	93,235,000	59,976,000	85,943,000	69,666,000	71,715,000	56,846,000	58,755,000	37,115,000	67,403,000	71,017,000	92,392,000
coal sales	35,080,000	29,067,000	51,256,000	38,147,000	30,185,000	23,355,000	31,662,000	32,801,000	49,630,000	81,330,000	97,420,000	88,574,000	94,602,000	84,643,000	83,562,000	64,161,000	57,010,000	64,388,000	79,036,000	54,600,000	45,879,000	64,925,000	64,754,000	50,473,000	61,932,000	78,205,000	82,883,000	71,113,000	85,235,000	89,019,000	79,055,000	56,922,000	66,787,000	68,922,000	73,896,000	62,829,000	62,555,000	-207,353,205	65,360,000	66,274,000	75,795,000		192,396,000	97,073,000	33,016,000		29,620,000			28,362,000	34,194,000	31,695,000	34,955,000	32,305,000	29,543,000	25,786,000
other revenues	1,631,000	1,294,000	2,355,000	4,766,000	1,659,000	1,198,000	1,667,000	1,267,000	1,287,000	739,000	945,000	1,603,000	1,340,000	1,176,000	1,522,000	1,768,000	1,897,000	1,123,000	786,000	1,038,000	816,000
total sales and operating revenues	101,807,000	101,944,000	146,846,000	102,889,000	117,787,000	94,219,000	105,044,000	90,914,000	109,672,000
expenses:
fuel	14,963,000	6,462,000	27,119,000	15,063,000	15,210,000	17,669,000	13,176,000	10,439,000
other operating and maintenance costs	29,156,000	27,487,000	44,415,000	28,955,000	28,389,000	11,650,000	33,320,000	35,912,000
cost of purchased power	14,863,000	9,806,000	2,074,000	2,172,000	6,840,000	3,194,000	3,149,000
utilities	3,333,000	3,599,000	4,543,000	4,507,000	4,152,000	4,959,000	3,185,000	3,396,000
labor	27,388,000	29,276,000	27,574,000	26,799,000	27,029,000	27,720,000	26,721,000	26,555,000
depreciation, depletion and amortization	10,606,000	11,561,000	9,142,000	5,542,000	14,977,000	22,696,000	13,838,000	13,649,000	15,443,000	15,836,000	16,230,000	17,169,000	17,976,000	14,993,000	11,187,000	11,164,000	9,531,000	10,109,000	9,842,000	9,715,000	10,307,000	7,539,750	9,315,000
asset retirement obligations accretion	408,000	454,000	446,000	437,000	427,000	420,000	410,000	399,000	399,000	424,000	468,000	461,000	451,000	259,000	255,000	250,000	246,000	388,000	380,000	373,000	363,000	256,000	348,000
exploration costs	84,000	59,000	38,000	98,000	21,000	81,000	62,000	47,000	70,000	222,000	171,000	305,000	206,000	258,000	121,000	215,000	57,000	169,000	96,000	159,000	58,000	133,000	174,000	208,000	253,000	390,000	347,000	208,000	280,000	374,000	279,000	315,000
general and administrative	6,858,000	7,130,000	4,770,000	7,501,000	6,825,000	6,309,000	6,471,000	7,803,000	5,944,000	7,563,000	6,054,000	5,595,000	6,947,000	5,977,000	3,569,000	3,722,000	3,149,000	5,562,000	3,067,000	3,383,000	2,821,000
gain on disposal or abandonment of assets	-201,000	-79,000	-2,334,000	-55,000	-21,000
total operating expenses	107,458,000	95,755,000	117,787,000	91,019,000	103,849,000	312,534,000	100,332,000	98,200,000	106,939,000	129,452,000	141,965,000	138,950,000	159,101,000	117,543,000	79,689,000	66,745,000	67,584,000	68,889,000	81,177,000	56,086,000	47,558,000
income from operations	-5,651,000	6,189,000	29,059,000	11,870,000	13,938,000	-218,315,000	4,712,000	-7,286,000	2,733,000	-10,268,000	23,803,000	22,244,000	29,233,000	34,528,000	5,395,000	-816,000	-8,677,000	-3,378,000	-1,355,000	-448,000	-863,000
yoy	-140.54%	-102.83%	516.70%	-262.92%	409.99%	2026.17%	-80.20%	-132.75%	-90.65%	-129.74%	341.20%	-2825.98%	-436.90%	-1122.14%	-498.15%	82.14%	905.45%
qoq	-191.31%	-78.70%	144.81%	-14.84%	-106.38%	-4733.17%	-164.67%	-366.59%	-126.62%	-143.14%	7.01%	-23.91%	-15.34%	540.00%	-761.15%	-90.60%	156.87%	149.30%	202.46%	-48.09%
operating margin %	-Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	-Infinity%	Infinity%	-Infinity%	Infinity%	-7.97%	14.36%	13.80%	15.52%	65.79%	6.34%	-1.24%	-14.73%	-5.16%	-1.70%	-0.81%	-Infinity%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%			NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%
interest income	147,000
interest expense	-3,970,000	-4,427,000	-4,927,000	-3,819,000	-3,723,000	-3,486,000	-2,692,000	-3,735,000	-3,937,000	-3,241,000	-3,030,000	-3,541,000	-3,899,000	-3,536,000	-3,355,000	-2,337,000	-1,784,000	-1,860,000	-2,108,000	-2,182,000	-1,898,000
loss on extinguishment of debt	-230,000							-1,937,000	-853,000		-1,491,000
equity method investment	-121,000	-163,000	-248,000	197,000	-236,000	-6,000	-234,000	-257,000
net income before income taxes	-9,825,000	1,593,000	23,884,000	8,248,000	9,979,000	-221,807,000	1,786,000	-13,215,000	-2,306,000	15,748,500	19,105,000	18,486,000	25,403,000	-2,767,000	2,208,000
income tax expense:
current										-479,000	-178,000	61,000	432,000										-74,000		-524,000	52,000	-426,000	78,000	-229,000	-1,362,000	-204,000	-19,000	-203,000	-1,590,000	-2,532,000	1,357,000	17,000	270,768		-768,000	768,000		551,000	1,416,000	1,232,000
deferred	-504,000					-5,846,000	232,000	-3,011,000	-610,000	-3,009,000	3,208,000	1,510,000	2,920,000	916,000	596,000	421,000	-177,000	2,717,000	-1,359,000	397,000	-1,729,000	597,000	-387,000	-618,000	-1,652,000	-19,081,000	-3,047,000	113,000	193,000	-2,167,000	-385,000	-104,000	369,000	-18,597,000	2,542,000	-1,023,000	632,000	-3,152,030	763,000	1,150,000	970,000		5,316,000	1,996,000	-56,000
total income tax expense	-504,000					-6,015,000	232,000	-3,011,000	-610,000	-3,488,000	3,030,000	1,571,000	3,352,000	916,000	596,000	421,000				397,000				-618,000	-2,176,000			191,000	-36,000	-136,500	-589,000	-123,000	166,000
net income	-9,321,000	-240,000	23,884,000	8,248,000	9,979,000	-215,792,000	1,554,000	-10,204,000	-1,696,000	-10,248,000	16,075,000	16,915,000	22,051,000	30,013,000	1,612,000	-3,386,000	-10,134,000	-7,744,000	7,986,000	-2,964,000	-1,032,000	-4,737,000	1,923,000	254,000	-3,660,000	-59,787,000	-3,723,000	-3,344,000	7,000,000					2,929,750	3,916,000	389,000	7,414,000	-16,330,838	4,322,000	5,853,000	6,162,000		14,444,000	7,591,000						4,272,000	6,495,000	4,784,000	6,824,000	5,771,000	4,516,000
yoy	-193.41%	-99.89%	1436.94%	-180.83%	-688.38%	2005.70%	-90.33%	-160.33%	-107.69%	-134.15%	897.21%	-599.56%	-317.59%	-487.56%	-79.81%	14.24%	881.98%	63.48%	315.29%	-1266.93%	-71.80%	-92.08%	-151.65%	-107.60%	-152.29%									-117.94%	-9.39%	-93.35%	20.32%		-70.08%	-22.90%										-25.97%	43.82%
qoq	3783.75%	-101.00%	189.57%	-17.35%	-104.62%	-13986.23%	-115.23%	501.65%	-83.45%	-163.75%	-4.97%	-23.29%	-26.53%	1761.85%	-147.61%	-66.59%	30.86%	-196.97%	-369.43%	187.21%	-78.21%	-346.33%	657.09%	-106.94%	-93.88%	1505.88%	11.33%	-147.77%						-25.19%	906.68%	-94.75%	-145.40%	-477.85%	-26.16%	-5.01%			90.28%							-34.23%	35.77%	-29.89%	18.25%	27.79%
net income margin %	-Infinity%	-Infinity%	Infinity%	Infinity%	Infinity%	-Infinity%	Infinity%	-Infinity%	-Infinity%	-7.96%	9.70%	10.49%	11.71%	57.19%	1.89%	-5.14%	-17.20%	-11.82%	10.00%	-5.33%	-Infinity%	-10.54%	2.95%	0.49%	-5.85%	-97.72%	-4.48%	-4.62%	7.84%	0%	0%	0%	0%	4.23%	5.26%	0.60%	11.67%	7.77%	6.57%	Infinity%	Infinity%	NaN%	Infinity%	Infinity%	NaN%	NaN%	NaN%			Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	NaN%
net income per share
basic	-0.2		0.56	0.19	0.23	-5.45	0.04	-0.27	-0.05	-0.31	0.49	0.51	0.67																																0.12		0.19			0.16	0.23	0.17	0.25
diluted	-0.2	-0.01	0.55	0.19	0.23	-5.45	0.04	-0.27	-0.05	-0.27	0.44	0.47	0.61																																0.12		0.19			0.15	0.23	0.17	0.24
weighted-average shares outstanding
basic	46,519	42,932	43,007	42,619	42,619	39,504	42,598	37,879	34,816	33,133	33,140	33,137	32,983	32,043	32,983																														28,757	28,595				27,790	27,783
diluted	46,519	43,432	43,434	43,048	43,462	39,504	43,018	37,879	34,816	36,827	36,848	36,708	36,740	33,649	33,268																														28,916	28,906				28,571	28,642
interest expense:
interest on bank debt	862	1,145	1,763	1,404				2,779	2,805	1,579	2,006	2,055	2,255	1,388.75	2,133
other interest	2,834	2,889	2,585	1,891				547	728	329	422	462	432	71.25	227	58
amortization of debt issuance costs	274	393	579	524				409	404	709.5	602	1,024	1,212	625.75	995	817	691	477	657	641	611	421.5	610	609
total interest expense	3,970	4,427	4,927	3,819				3,735	3,937	2,617.5	3,030	3,541	3,899	1,869	3,355	2,337	1,784
income tax benefit:
total income tax benefit																	-177,000	-672,750	-1,359,000		-1,729,000	597,000	-461,000			-19,029,000	-3,473,000
amortization:
total amortization								409	404
operating expenses									85,083,000	105,407,000	119,042,000	115,420,000	133,521,000	96,056,000	64,557,000	51,394,000	54,601,000	54,583,000	67,792,000	42,456,000	34,009,000
equity method investment income									-249,000	-227,000	-177,000	-217,000	69,000	-63,000	168,000	188,000	150,000	211,000	90,000	63,000
total revenue										128,824,000	165,768,000	161,194,000	188,334,000	52,480,000	85,084,000	65,929,000	58,907,000	65,511,000	79,822,000	55,638,000		44,936,750	65,128,000	52,081,000	62,538,000	61,179,750	83,096,000	72,310,000	89,313,000	89,728,000	79,722,000	57,243,000	66,864,000	69,300,000	74,468,000	64,312,000	63,553,000	-210,140,115	65,767,000
yoy										145.47%	94.83%	144.50%	219.71%	-19.89%	6.59%	18.50%		45.78%	22.56%	6.83%		-26.55%	-21.62%	-27.98%	-29.98%	-31.82%	4.23%	26.32%	33.57%	29.48%	7.06%	-10.99%	5.21%	-132.98%	13.23%
qoq										-22.29%	2.84%	-14.41%	258.87%	-38.32%	29.05%	11.92%	-10.08%	-17.93%	43.47%			-31.00%	25.05%	-16.72%	2.22%	-26.37%	14.92%	-19.04%	-0.46%	12.55%	39.27%	-14.39%	-3.52%	-6.94%	15.79%	1.19%	-130.24%	-419.52%
amortization and swap-related interest:
payments on interest rate swap, net of changes in value														-216.75
total amortization and swap related interest										709.5	602	1,024	1,212	409	995
gain on extinguishment of debt																			10,000,000
net income per share
basic and diluted														-0.095	0.05	-0.11	-0.33	-0.25	0.26	-0.1				0.01	-0.12		-0.12	-0.11	0.23	0.09	0.09		0.07	0.7	0.13	0.01	0.25	-0.33	0.14	0.19	0.21		0.48	0.25										0.158	0.17	0.16
income before income taxes																-2,965,000	-10,311,000	-5,027,000	6,627,000	-2,567,000	-2,761,000	-4,140,000	1,462,000	-364,000	-5,836,000	-78,816,000	-7,196,000	-3,153,000	6,964,000	-931,000	2,325,000	-146,000	2,298,000	1,170,000	3,926,000	723,000	8,063,000	-19,212,100	5,085,000	6,235,000	7,900,000		20,311,000	11,003,000	4,702,000					7,430,000	9,851,000	7,974,000	11,374,000	10,185,000	7,734,000	6,460,000
weighted-average shares outstanding
basic and diluted																30,809	30,785	30,614	30,613	30,613	30,611	30,446	30,465	30,423	30,420	30,253	30,249	30,245	30,245	30,074	30,177	29,980	29,955	29,661	29,774	29,503	29,413	29,251	29,252	29,251	29,251			28,962											23,358	22,446
bank interest																1,712	1,710	1,652.5	2,167	2,307	2,135	2,050.25	2,709	2,842
non-cash interest:
change in interest rate swap valuation																-250	-617	-582.5	-716	-766				-617
total non-cash interest																567	74	-105.5	-59	-125	-237	669	-380	-8
asset impairment																							1,799,000
total interest																		1,547	2,108	2,182	1,898	2,719.25	2,329	2,834
total revenues																					46,695,000
loss per share:
basic and diluted																					-0.03
change in fair value of interest rate swaps valuation																					-848	245.25	-995
revenue:
other operating income																						623,000	374,000	1,608,000	606,000
costs and expenses:
operating costs and expenses																						54,753,000	46,570,000	36,165,000	48,469,000	60,083,000	71,363,000	54,001,000	62,419,000	69,619,000	60,230,000	38,874,000	46,640,000	52,025,000	54,354,000	44,079,000	39,692,000	35,528,500	46,940,000	45,397,000	49,777,000		134,432,000	66,152,000	23,005,000
selling, general and administrative																						2,196,750	3,131,000
interest																						2,153,000	2,329,000	2,834,000	5,714,000	2,452,000	3,558,000	5,369,000	4,619,000	6,004,000	3,261,000	4,315,000	2,708,000	2,751,000	3,229,000	3,342,000	3,091,000	-13,452,155	2,861,000	4,752,000	5,845,000		8,779,000	5,456,000	465,000					398,000	480,000	486,000	562,000	609,000	603,000	446,000
total costs and expenses																						69,688,000	63,666,000	52,445,000	68,374,000	157,559,000	90,292,000	75,463,000	82,349,000	90,659,000	77,397,000	57,389,000	64,566,000	68,130,000	70,542,000	63,589,000	55,490,000	47,749,000	60,682,000
income tax benefit
income per share
basic and diluted																						-0.013	0.06
other																						2.25	5																				1,315,000							18,750	-141,000	-124,000	137,000	-229,000	-25,000	337,000
dd&a																								10,217,000	10,627,000	12,960,000	11,778,000	12,096,000	11,738,000	11,403,000	10,815,000	11,120,000	10,829,000	9,962,000	9,729,000	9,101,000	9,703,000	-26,170,818	7,942,000	9,056,000	9,182,000		22,108,000	11,338,000	4,959,000					3,055,000	3,121,000	2,885,000	2,757,000	2,484,000	2,566,000	2,018,000
aro accretion																								343,000	333,000	329,000	320,000	314,000	309,000	301,000	293,000	291,000	282,000	221,000	219,000	214,000	207,000
sg&a																								2,678,000	2,978,000	3,463,000	2,926,000	3,475,000	2,984,000	2,958,000	2,519,000	2,474,000	3,890,000	2,883,000	2,859,000	6,578,000	2,658,000	-8,073,238	2,585,000	2,729,000	2,762,000		6,424,000	3,344,000	1,971,000					1,628,000	1,332,000	1,456,000	1,140,000	992,000	1,306,000
income tax expense
other income																										1,372,000	213,000	1,197,000	4,078,000	266,250	667,000	321,000	77,000	225,250	314,000	206,000	767,000	335,000	487,000	363,000	490,000			752,000	283,000
weighted-average shares outstanding:
basic and diluted																30,809	30,785	30,614	30,613	30,613	30,611	30,446	30,465	30,423	30,420	30,253	30,249	30,245	30,245	30,074	30,177	29,980	29,955	29,661	29,774	29,503	29,413	29,251	29,252	29,251	29,251			28,962											23,358	22,446
net income*																														1,255,750	2,914,000	-23,000													3,526,000
coal exploration costs																																	217,000	288,000	152,000	275,000	139,000			395,000	419,000		1,200,000	708,000	665,000
net income *																																	2,132,000
equity income - savoy																																		51,000	153,000	44,000	212,000	-10,500	26,000
equity income - sunrise energy																																		-113,000	16,000	-17,000	19,000	-66,000	-106,000	-83,000	-75,000		3,000	40,000	89,000
msha reimbursement																																		431,250	89,000	1,250,000		438,250		1,753,000
less income taxes:
total income taxes																																		248,250	10,000	334,000	649,000	-2,881,262	763,000
exploration and permitting costs																																						292,000	354,000
equity income – savoy																																								257,000	-325,000		-17,000	136,000	2,379,000											-290,000
¨
assets
current assets:
cash and cash equivalents																																											16,489,000
marketable securities																																											1,645,000
accounts receivable																																											25,642,000
income tax receivable																																											6,936,000
coal inventory																																											15,952,000
parts and supply inventory																																											14,008,000
total current assets																																											81,987,000
coal properties, at cost:
land and mineral rights																																											115,963,000
buildings and equipment																																											344,442,000
mine development																																											125,591,000
less - accumulated dd&a																																											-128,363,000
investment in savoy																																											13,880,000
investment in sunrise energy																																											4,824,000
other assets																																											17,304,000
liabilities and stockholders’ equity
current liabilities:
current portion bank debt																																											26,250,000
accounts payable and accrued liabilities																																											28,056,000
total current liabilities																																											54,306,000
long-term liabilities:
bank debt																																											251,345,000
deferred income taxes																																											46,897,000
asset retirement obligations																																											11,979,000
total long-term liabilities																																											318,550,000
total liabilities																																											372,856,000
commitments and contingencies
stockholders’ equity:
preferred stock, .10 par value, 10,000 shares authorized; none issued
common stock, .01 par value, 100,000 shares authorized; 29,058 and 28,962, shares outstanding, respectively
additional paid-in capital																																											91,268,000
retained earnings																																											111,049,000
accumulated other comprehensive income																																											165,000
total stockholders’ equity																																											202,772,000
vectren deal costs
common stock, .01 par value, 100,000 shares authorized; 29,044 and 28,962, shares outstanding, respectively																																											290,000
weighted average shares outstanding:
basic and diluted																																											28,993
weighted-average shares outstanding:
basic	46,519	42,932	43,007	42,619	42,619	39,504	42,598	37,879	34,816	33,133	33,140	33,137	32,983	32,043	32,983																														28,757	28,595				27,790	27,783
diluted	46,519	43,432	43,434	43,048	43,462	39,504	43,018	37,879	34,816	36,827	36,848	36,708	36,740	33,649	33,268																														28,916	28,906				28,571	28,642
tons sold																																															701,000
average price/ton																																															42,250
operating costs																																															18,433,000
average cost/ton																																															26,300
margin																																															11,187,000
margin/ton																																															15,960
capex																																															2,372,000
net income excluding the 4.3 million liability extinguishment																																															5,459,000
oil
ngls
natgas
contract drilling
loe
contract drilling costs
g&g (geological and geophysical) costs
dry hole costs
impairment of unproved properties
other exploration costs
g&a																																																								800,000
total expenses
the information below is not in thousands:
oil production – barrels
ngls production – barrels
natgas production – mcf
average oil prices/barrel for the half
average ngl prices/barrel for the half
average natgas prices/mcf for the half
equity (loss) – savoy																																																		-143,500	-877,000			-239,000	-407,000
revenue: - sum																																																		29,094,000	33,176,000	31,684,000	35,282,000	31,380,000	29,111,000	25,833,000
cost of coal sales																																																		16,583,000	18,392,000	18,883,000	19,449,000	17,110,000	16,902,000	16,109,000
costs and expenses: - sum																																																		21,664,000	23,325,000	23,710,000	23,908,000	21,195,000	21,377,000	19,373,000
less income taxes																																																		-2,774,000	-3,356,000	-3,190,000	-4,550,000	-2,339,500	-3,218,000
less net income attributable to the noncontrolling interest
net income attributable to hallador																																																		4,272,000	6,495,000	4,784,000	6,824,000	5,771,000	3,873,000	3,492,000
_________________________________ included in interest expense for 2010 and 2009 were credits of 496 and 647, respectively, for the change in the estimated fair value of our interest rate swaps. such amounts for the third quarter 2010 and 2009 were 166 and 116, respectively. we also capitalized 0 and 293 of interest charges in 2010 and 2009, respectively; no amounts were capitalized in the third quarter of either year.
see accompanying notes.
equity income (loss) – savoy																																																				113,000
weighted average shares outstanding:
basic																																																				27,782	27,782	24,017
diluted																																																				28,563	28,396	24,441
equity income (loss) - savoy																																																					190,000
less: net income attributable to the noncontrolling interest																																																						-505,000	-643,000	3,983,000
income taxes																																																								2,477,000

Balance Sheets:

Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31

assets
current assets:
cash and cash equivalents	36,778,000	10,070,000	12,663,000	9,228,000	6,891,000	7,232,000	3,829,000	6,446,000	1,635,000	2,842,000	2,573,000	2,337,000	2,441,000	3,009,000	7,000,000	8,882,000	4,289,000	2,546,000	4,546,000	2,582,000	3,863,000	8,041,000	5,302,000	7,375,000	7,918,000	8,799,000	6,361,000	6,406,000	8,690,000	15,502,000	16,903,000	10,185,000	14,449,000	12,483,000	9,407,000	10,079,000	13,762,000	9,788,000	12,818,000	16,217,000	13,751,000	15,930,000	19,503,000	16,489,000	11,797,000	13,469,000	22,018,000	21,025,000	18,277,000	16,228,000	13,713,000	14,836,000	18,402,000	21,888,000	30,213,000	36,258,000	40,581,000	37,542,000	33,550,000	17,532,000	14,960,000	10,277,000	13,378,000	14,553,000	16,231,000	15,226,000	14,750,000	15,832,000	19,764	21,013	14,316,000	6,136,000	7,069,000
restricted cash	6,585,000	5,302,000	22,819,000	23,142,000	9,316,000	4,921,000	5,812,000	4,282,000	4,737,000	4,281,000	4,143,000	4,033,000	3,908,000	3,417,000	3,483,000	3,491,000	3,288,000	3,283,000	3,249,000	3,495,000	3,771,000	4,030,000	4,243,000	4,508,000	4,734,000	4,512,000	4,726,000	4,576,000	4,657,000	4,592,000	4,503,000	4,234,000	4,115,000	3,811,000	3,428,000	3,320,000	3,084,000
accounts receivable	9,152,000	13,989,000	24,763,000	18,742,000	12,582,000	15,438,000	11,908,000	19,098,000	14,228,000	19,937,000	20,692,000	21,428,000	33,158,000	29,889,000	16,744,000	17,155,000	15,407,000	13,584,000	16,455,000	14,386,000	13,633,000	14,414,000	15,846,000	13,494,000	12,703,000	25,580,000	21,722,000	20,239,000	15,502,000	18,428,000	15,938,000	11,627,000	14,827,000	16,762,000	16,776,000	17,105,000	16,008,000	22,307,000	19,106,000	18,948,000	19,239,000	16,675,000	26,124,000	25,642,000	29,817,000	27,297,000	35,698,000	10,653,000	10,690,000	10,577,000	9,904,000	9,069,000	6,790,000	8,127,000	7,492,000	9,145,000	4,513,000	6,689,000	9,826,000	6,260,000	8,333,000	5,450,000	8,036,000	6,839,000	7,552,000	5,411,000	6,769,000	5,728,000	6,732	6,113	6,075,000	4,180,000	3,045,000
inventory	47,164,000	42,534,000	28,006,000	43,570,000	36,318,000	36,685,000	31,077,000	32,595,000	29,688,000	23,075,000	23,749,000	47,945,000	49,411,000	49,796,000	13,734,000	13,806,000	8,775,000	7,699,000	11,322,000	32,345,000	34,036,000	24,663,000	36,803,000	42,012,000	37,410,000	28,297,000	26,962,000	30,923,000	23,181,000	20,507,000	29,542,000
parts and supplies	47,893,000	45,854,000	44,002,000	42,755,000	40,137,000	39,104,000	39,663,000	39,459,000	40,360,000	38,877,000	37,012,000	33,859,000	31,221,000	28,295,000	14,990,000	12,247,000	11,470,000	10,015,000	9,821,000	9,295,000	9,288,000	8,903,000									10,775,000
prepaid expenses	1,604,000	5,638,000	4,293,000	2,437,000	1,808,000	1,478,000	5,964,000	2,027,000	2,614,000	2,262,000	4,158,000	3,100,000	3,377,000	4,546,000	2,220,000	999,000	1,195,000	2,112,000	3,687,000	1,035,000	1,631,000	3,282,000	4,771,000	2,682,000	1,519,000	1,678,000	7,568,000	4,101,000	9,667,000	11,368,000	15,885,000	15,633,000	12,210,000	9,433,000	10,401,000	11,170,000	12,980,000	9,647,000
other current assets	1,927,000
total current assets	151,103,000	123,387,000	136,546,000	139,874,000	107,052,000	104,858,000	99,797,000	103,907,000	93,262,000	91,274,000	92,327,000	112,702,000	129,694,000	138,519,000	58,171,000	56,580,000	44,424,000	39,239,000	49,080,000	63,138,000	66,222,000	63,333,000	76,137,000	80,614,000	76,151,000	82,448,000	83,262,000	81,286,000	76,227,000	84,978,000	97,171,000	92,605,000	83,495,000	71,637,000	73,968,000	84,671,000	90,023,000	79,933,000	63,479,000	64,867,000	62,274,000	66,615,000	77,042,000	81,987,000	86,524,000	84,409,000	107,135,000	42,910,000	43,336,000	39,361,000	34,342,000	32,434,000	34,106,000	34,863,000	43,604,000	50,914,000	50,521,000	48,876,000	52,476,000	30,604,000	31,560,000	26,232,000	29,711,000	28,668,000	31,380,000	30,269,000	28,435,000	27,485,000	31,636	31,361	24,506,000	13,977,000	13,425,000
property, plant and equipment:
land and mineral rights	69,952,000	69,952,000	69,961,000	70,307,000	70,307,000	70,307,000	115,486,000	115,486,000	115,486,000	115,486,000	115,486,000	115,506,000	115,506,000	115,595,000	115,704,000	115,771,000	115,839,000	115,837,000	115,859,000	115,946,000	115,840,000	115,853,000	115,894,000	114,974,000	114,994,000	114,722,000	131,890,000	131,921,000	131,138,000	130,897,000	130,156,000	130,860,000	130,660,000	129,724,000	129,724,000	126,682,000	126,313,000	126,303,000	126,454,000	126,362,000	126,362,000	116,209,000	115,963,000	115,963,000	116,025,000	118,053,000	130,492,000	27,704,000	26,382,000	26,476,000	23,315,000	23,280,000	23,325,000	22,705,000
buildings and equipment	440,682,000	421,037,000	454,040,000	446,278,000	435,329,000	429,857,000	529,818,000	531,413,000	537,921,000	537,131,000	572,885,000	554,271,000	541,374,000	534,129,000	363,903,000	355,053,000	346,932,000	342,782,000	361,570,000	357,754,000	356,256,000	352,115,000	357,498,000	357,912,000	358,488,000	351,614,000	387,699,000	384,660,000	376,265,000	365,481,000	375,626,000	368,220,000	362,636,000	356,911,000	351,334,000	346,052,000	339,396,000	339,999,000	352,845,000	350,516,000	349,498,000	347,963,000	346,493,000	344,442,000	331,092,000	321,730,000	335,059,000	155,405,000	151,414,000	148,077,000	144,304,000	139,195,000	135,775,000	131,566,000
mine development	102,302,000	102,302,000	99,852,000	96,764,000	94,725,000	92,458,000	167,077,000	164,475,000	161,669,000	158,642,000	153,240,000	149,747,000	145,200,000	140,108,000	131,820,000	123,274,000	116,198,000	112,575,000	105,855,000	100,910,000	96,971,000	93,635,000	89,229,000	87,542,000	86,165,000	84,160,000	147,349,000	144,642,000	142,224,000	140,990,000	140,030,000	138,467,000	137,682,000	136,762,000	134,537,000	131,944,000	128,814,000	126,037,000	136,675,000	134,541,000	133,623,000	131,027,000	127,745,000	125,591,000	124,988,000	124,435,000	86,395,000	85,813,000	85,462,000	85,333,000	81,998,000	78,104,000	74,979,000	71,046,000	68,515,000	66,976,000	66,832,000	66,614,000	64,111,000	62,756,000	60,962,000	59,351,000	56,101,000	51,403,000	49,143,000	47,479,000	46,402,000	48,952,000	48,426	45,289
construction work in progress	35,788,000
finance lease right-of-use assets	12,591,000	12,591,000	13,034,000	13,034,000	13,034,000	13,034,000	19,869,000	19,869,000	16,178,000	12,346,000
total property, plant and equipment	661,315,000	645,553,000	636,887,000	626,383,000	613,395,000	605,656,000	832,250,000	831,243,000	831,254,000	823,605,000	841,611,000	819,524,000	802,080,000	789,832,000	611,427,000	594,098,000	578,969,000	571,194,000	302,243,000	303,123,000	306,544,000	309,358,000	312,487,000	319,464,000	328,277,000	329,716,000	407,817,000	413,815,000	413,187,000	412,638,000	409,923,000	412,316,000	416,789,000
less - accumulated depreciation, depletion and amortization	-376,481,000	-367,775,000	-370,903,000	-363,704,000	-360,624,000	-347,952,000	-360,173,000	-349,462,000	-348,783,000	-334,971,000	-358,944,000	-342,734,000	-325,860,000	-309,370,000	-298,116,000	-286,960,000	-277,545,000	-268,370,000	-281,041,000	-271,487,000	-262,523,000		-250,134,000
equity method investments	2,528,000	2,647,000	2,713,000	2,889,000	2,370,000	2,607,000																									3,654,000	3,697,000	3,770,000
operating lease right-of-use assets	2,315,000
other noncurrent assets	7,852,000
total assets	448,632,000	408,053,000	409,461,000	409,513,000	366,097,000	369,120,000	579,730,000	595,169,000	585,420,000	589,780,000	585,186,000	599,889,000	616,627,000	630,554,000	383,361,000	375,735,000	357,876,000	353,980,000	363,085,000	377,830,000	384,208,000	384,130,000	400,207,000	411,659,000	415,689,000	425,627,000	508,811,000	512,895,000	507,169,000	515,499,000	526,036,000	523,416,000	518,832,000	518,193,000	518,981,000	527,919,000	532,651,000	528,506,000	540,083,000
liabilities and stockholders' equity
current liabilities:
accounts payable	19,818,000
accrued liabilities and other	35,078,000
current portion of lease financing	4,981,000	7,411,000	7,395,000	7,229,000	7,067,000	6,912,000	6,248,000	6,204,000	4,958,000	3,933,000
contract liabilities - current	130,170,000	103,343,000	113,244,000	132,935,000	107,368,000	97,598,000
total current liabilities	190,047,000	152,602,000	207,347,000	209,255,000	177,052,000	152,903,000	171,600,000	195,539,000	164,425,000	157,595,000	171,589,000	177,764,000	209,279,000	239,602,000	162,586,000	61,195,000	163,904,000	64,626,000	66,026,000	77,242,000	78,348,000	71,210,000	69,997,000	71,560,000	73,129,000	64,844,000	68,439,000	61,161,000	56,757,000	51,813,000	50,226,000	47,534,000	58,074,000	54,286,000	52,993,000	53,075,000	50,185,000	45,752,000	43,334,000	38,814,000	44,156,000	52,434,000	55,172,000	54,306,000	53,092,000	49,980,000	49,200,000		9,945,000	10,357,000	10,111,000	10,089,000	9,972,000	11,046,000	21,801,000	22,446,000	32,860,000	33,096,000	31,285,000	22,051,000	23,438,000	19,501,000	21,834,000	21,799,000	20,466,000	20,593,000	18,153,000	16,231,000	16,401	14,978	13,946,000	9,039,000	9,792,000
long-term liabilities:
bank debt		29,678,000		26,000,000	4,000,000	37,394,000	42,918,000	24,734,000	49,343,000	63,453,000				49,713,000		113,607,000		84,667,000	83,523,000	94,378,000	96,230,000	97,307,000	105,885,000	119,463,000	127,123,000	140,594,000	133,697,000	137,703,000	134,348,000	155,655,000	168,462,000	170,362,000	154,975,000	165,773,000	174,066,000	188,359,000	196,651,000	204,944,000	206,037,000	219,330,000	225,598,000	223,220,000	239,783,000	251,345,000	267,908,000	284,470,000	325,938,000	16,000,000	16,000,000	16,000,000	11,400,000	11,400,000	11,400,000	11,400,000	10,000,000	12,500,000	15,000,000
long-term lease financing	617,000	1,338,000	3,140,000	5,052,000	6,921,000	8,749,000	9,234,000	10,699,000	9,701,000	8,157,000
deferred income taxes	1,329,000	1,833,000					5,846,000	5,614,000	8,625,000	9,235,000	12,244,000	9,036,000	7,526,000	4,606,000	3,690,000	3,094,000	2,673,000	2,850,000	133,000	1,492,000	1,095,000	2,824,000	2,228,000	2,614,000	3,233,000	4,619,000	23,700,000	26,747,000	26,634,000	26,441,000	28,608,000	28,993,000	29,097,000	28,728,000	47,325,000	44,783,000	45,806,000	45,174,000	52,186,000	51,153,000	50,003,000	49,033,000	46,883,000	46,897,000	43,577,000	41,581,000	39,237,000	40,899,000	43,248,000	43,304,000	40,778,000	38,591,000	36,652,000	35,884,000	34,812,000	33,464,000	32,272,000	31,100,000	22,856,000	23,558,000	20,935,000	17,435,000	8,384,000	5,317,000	4,129,000	1,699,000	2,414,000	6,351,000	3,681	1,700
asset retirement obligations	15,649,000	15,241,000	16,268,000	15,822,000	15,386,000	14,957,000	15,746,000	15,335,000	14,934,000	14,538,000	16,348,000	17,235,000	17,340,000	17,254,000	12,393,000	13,437,000	13,668,000	14,025,000	17,212,000	16,879,000	16,537,000	16,177,000	16,476,000	16,262,000	15,993,000	15,694,000	15,304,000	15,013,000	14,777,000	14,586,000	14,171,000	14,077,000	13,788,000	13,506,000	13,699,000	13,480,000	13,429,000	13,260,000	12,995,000	12,735,000	12,480,000	12,231,000	12,103,000	11,979,000	12,073,000	12,074,000	11,856,000	5,443,000	5,367,000	5,290,000	2,709,000	2,669,000	2,630,000	2,573,000	2,383,000	2,347,000	2,313,000	2,276,000	1,212,000	1,191,000	1,174,000	1,150,000	1,132,000	1,114,000	937,000	922,000	912,000	714,000	696	686	676,000	665,000	655,000
contract liabilities - long-term	32,148,000	45,714,000	34,362,000	29,216,000	42,539,000	49,121,000
other	3,268,000	1,814,000	2,156,000	2,015,000	4,851,000	1,711,000	2,133,000	2,002,000	1,871,000	1,789,000	2,395,000	1,551,000	1,400,000	1,259,000	1,720,000	1,579,000	1,475,000	1,577,000	2,109,000	2,010,000	2,361,000	2,842,000	4,061,000	4,701,000	5,258,000	4,346,000	11,164,000	11,219,000	9,526,000	8,130,000	7,184,000	7,132,000	6,711,000	6,577,000	1,921,000	2,808,000	2,655,000	2,486,000	3,121,000	1,702,000	1,315,000	1,185,000	1,467,000	1,315,000	612,000	1,555,000	4,173,000	82,000	142,000	291,000	403,000	612,000	147,000	242,000	311,000	93,000	401,000	580,000	3,509,000	1,114,000	721,000	850,000	3,447,000	2,610,000	2,335,000	2,498,000	2,789,000	1,867,000	1,814	1,928	1,664,000	1,081,000	888,000
total long-term liabilities	53,011,000	95,618,000	55,926,000	78,105,000	73,697,000	111,932,000	89,333,000	83,460,000	137,137,000	163,597,000	141,908,000	167,243,000	170,162,000	175,928,000	36,803,000	131,717,000	17,816,000	103,119,000	102,977,000	114,759,000	117,352,000	123,660,000	136,490,000	148,592,000	151,607,000	165,253,000	183,865,000	190,682,000	185,285,000	204,812,000	218,425,000	220,564,000	204,571,000	214,584,000	237,011,000	249,430,000	258,541,000	265,864,000	274,526,000	286,876,000	290,985,000	286,236,000	300,879,000	318,550,000	326,438,000	339,730,000	378,869,000	63,790,000	66,914,000	66,722,000	56,813,000	54,240,000	56,405,000	56,152,000	43,506,000	41,504,000	38,930,000	38,339,000	38,413,000	41,594,000	41,454,000	40,430,000	34,769,000	34,350,000	35,676,000	35,870,000	36,900,000	45,669,000	45,855	46,521	36,831,000	39,181,000	40,929,000
total liabilities	243,058,000	248,220,000	263,273,000	287,360,000	250,749,000	264,835,000	260,933,000	278,999,000	301,562,000	321,192,000	313,497,000	345,007,000	379,441,000	415,530,000	199,389,000	192,912,000	181,720,000	167,745,000	169,003,000	192,001,000	195,700,000	194,870,000	206,487,000	220,152,000	224,736,000	230,097,000	252,304,000	251,843,000	242,042,000	256,625,000	268,651,000	268,098,000	262,645,000	268,870,000	290,004,000	302,505,000	308,726,000	311,616,000	317,860,000	325,690,000	335,141,000	338,670,000	356,051,000	372,856,000	379,530,000	389,710,000	428,069,000	75,478,000	76,859,000	77,079,000	66,924,000	64,329,000	66,377,000	67,198,000	65,307,000	63,950,000	71,790,000	71,435,000	69,698,000	63,645,000	64,892,000	59,931,000	56,603,000	56,149,000	56,142,000	56,463,000	55,053,000	61,900,000	62,256	61,499	50,777,000	48,220,000	50,721,000
commitments and contingencies
stockholders' equity:
preferred stock, .10 par value, 10,000 shares authorized; none issued
common stock, .01 par value...	471,000	438,000	430,000	430,000	430,000	426,000	426,000	426,000	365,000	341,000	332,000	332,000	332,000	330,000	330,000	330,000	308,000	308,000	306,000	306,000	306,000	306,000	305,000	305,000	304,000	304,000	302,000	302,000	302,000	302,000	301,000	301,000	299,000	299,000	298,000	297,000	294,000	294,000	292,000	292,000	292,000	292,000	290,000	290,000		289,000		287,000	287,000	287,000	286,000	286,000		285,000	283,000	283,000	283,000	283,000	281,000	281,000	280,000	279,000	278,000	277,000	277,000	277,000	277,000	224,000	224	224	219,000	164,000	163,000
additional paid-in capital	257,992,000	202,963,000	189,086,000	188,935,000	190,378,000	189,298,000	188,018,000	186,945,000	144,490,000	127,548,000	120,410,000	119,678,000	118,897,000	118,788,000	117,749,000	114,212,000	104,181,000	104,126,000	104,231,000	103,964,000	103,679,000	103,399,000	103,123,000	102,833,000	102,534,000	102,215,000	102,166,000	101,747,000	101,236,000	100,742,000	100,617,000	100,228,000	99,841,000	97,873,000	97,738,000	96,915,000	94,597,000	93,816,000	94,194,000	93,459,000	92,811,000	92,275,000	92,123,000	91,268,000	91,060,000	90,218,000	90,112,000	89,141,000	88,346,000	87,872,000	87,924,000	87,304,000	87,176,000	86,576,000	88,203,000	87,153,000	86,530,000	85,984,000	85,510,000		84,181,000	84,073,000	86,290,000	85,622,000	84,886,000	85,245,000	84,587,000	69,859,000	69,800	69,739	67,568,000	45,352,000	45,122,000
retained deficit	-52,889,000	-43,568,000	-43,328,000	-67,212,000
total stockholders’ equity	205,574,000	159,833,000	146,188,000	122,153,000	115,348,000	104,285,000	318,797,000	316,170,000	283,858,000	268,588,000	271,689,000	254,882,000	237,186,000	215,024,000	183,972,000	178,823,000	172,156,000	182,235,000	190,082,000	181,829,000	184,508,000	185,260,000	189,720,000	187,507,000	186,953,000	191,530,000	252,507,000	257,052,000	261,127,000	254,874,000	253,385,000	251,318,000	252,187,000	249,323,000	228,977,000	225,414,000	223,925,000	216,890,000	222,223,000	218,331,000	212,446,000	206,820,000	207,347,000	202,772,000	197,006,000	189,875,000	182,888,000	188,991,000	186,174,000	183,334,000	179,697,000	175,315,000	168,251,000	162,009,000	163,301,000	170,694,000	163,626,000		151,869,000	138,822,000	135,126,000		124,676,000	117,513,000	115,092,000
total liabilities and stockholders’ equity	448,632,000	408,053,000	409,461,000	409,513,000	366,097,000	369,120,000	579,730,000	595,169,000	585,420,000	589,780,000	585,186,000	599,889,000	616,627,000																					518,193,000	518,981,000	527,919,000	532,651,000	528,506,000	540,083,000
construction work in process		39,671,000
other assets		4,241,000	4,218,000	4,071,000	3,904,000	3,951,000	5,785,000	7,176,000	7,125,000	7,061,000	7,154,000	7,182,000	7,281,000	7,585,000	7,828,000	8,134,000	8,333,000	8,372,000	8,428,000	8,325,000	8,261,000	8,258,000				10,324,000	14,417,000	14,294,000	14,123,000	14,217,000	15,288,000	14,798,000	14,778,000	14,660,000	14,271,000	13,772,000	14,298,000	14,114,000	21,611,000	20,745,000	20,010,000	16,528,000	16,472,000	17,304,000	16,819,000	18,849,000	22,377,000	17,000,000	16,805,000	17,405,000	15,191,000	16,487,000	12,366,000	11,307,000	8,767,000	8,949,000	7,993,000	6,294,000	6,199,000	6,681,000	6,727,000	7,323,000	3,154,000	2,955,000	3,087,000	2,771,000	2,355,000	2,651,000	2,505	3,710	2,144,000	1,739,000	1,489,000
current portion of bank debt			42,698,000	17,139,000	16,965,000	4,095,000	24,095,000	17,938,000	24,438,000	24,438,000	21,188,000	17,638,000	32,272,000	33,031,000		13,222,000	116,178,000	23,098,000	26,773,000	30,448,000	34,311,000	34,311,000	34,311,000	34,311,000	34,882,000	33,044,000	31,333,000	29,067,000	27,230,000	25,392,000	23,555,000	21,749,000	33,171,000	33,171,000	33,171,000	33,171,000	30,984,000	28,796,000	26,609,000	24,421,000	24,258,000	26,250,000			24,063,000	21,875,000												17,500,000	10,000,000	10,000,000	10,000,000	10,000,000	10,000,000	10,000,000	10,000,000	10,000,000	7,500,000	7,500,000	5,000	2,500
accounts payable and accrued liabilities		41,848,000	44,010,000	51,952,000	45,652,000	44,298,000	42,915,000	45,890,000	47,125,000	62,908,000	76,602,000	70,933,000	84,495,000	82,972,000	52,428,000	47,973,000	47,726,000	41,528,000	39,253,000	36,794,000	35,166,000	31,409,000	33,526,000	32,801,000	38,247,000	31,800,000	37,106,000	32,094,000	29,527,000	26,421,000	26,671,000	25,785,000	24,903,000	21,115,000	19,822,000	19,904,000	19,201,000	16,956,000	16,725,000	14,393,000	19,898,000	26,184,000	28,922,000	28,056,000	29,029,000	28,105,000	29,512,000	11,688,000	9,945,000	10,357,000	10,111,000	10,089,000	9,972,000	9,386,000	10,299,000	9,293,000	10,147,000	10,411,000	12,140,000	10,156,000	12,933,000	8,809,000	11,673,000	8,804,000	8,139,000	9,950,000	9,561,000	7,503,000	10,210	11,563	8,122,000	4,036,000	5,964,000
retained earnings					-75,460,000	-85,439,000	130,353,000	128,799,000	139,003,000	140,699,000	150,947,000	134,872,000	117,957,000	95,906,000	65,893,000	64,281,000	67,667,000	77,801,000	85,545,000	77,559,000	80,523,000	81,555,000	86,292,000	84,369,000	84,115,000	89,011,000	150,039,000	155,003,000	159,589,000	153,830,000	152,467,000	150,789,000	152,047,000	150,236,000	130,120,000	127,446,000	128,260,000	122,052,000	127,081,000	123,962,000	119,309,000	114,341,000	114,995,000	111,049,000	105,394,000	99,003,000	92,029,000	98,996,000	97,128,000	94,796,000	91,264,000	87,592,000	80,586,000	75,118,000	74,765,000	83,216,000	76,758,000	74,685,000	66,165,000	53,609,000	50,659,000	42,381,000	38,108,000	31,614,000	29,929,000	23,105,000	17,334,000	13,461,000	9,969	2,920	364,000
assets held-for-sale							1,544,000
convertible notes payable									10,000,000	10,000,000				10,000,000
convertible notes payable - related party									1,000,000	9,000,000	9,000,000	9,000,000	9,000,000	9,000,000	9,000,000
investment in sunrise energy							2,071,000	2,305,000	2,562,000	2,811,000	3,038,000	3,215,000	3,432,000	3,988,000	4,051,000	3,883,000	3,695,000	3,545,000	3,334,000	3,244,000	3,181,000	3,181,000	3,293,000	3,412,000	3,306,000	3,139,000	3,315,000	3,500,000	3,632,000	3,666,000				3,853,000	3,966,000	4,124,000	4,141,000	4,122,000	4,482,000	4,588,000	4,672,000	4,747,000	4,845,000	4,824,000	4,861,000	4,821,000	4,764,000	4,660,000	4,662,000	4,573,000	4,488,000	4,316,000	4,090,000	3,969,000	3,851,000	3,834,000	3,859,000	3,297,000	3,149,000	2,919,000	2,800,000
deferred revenue							57,293,000	84,772,000	41,242,000	23,062,000	25,712,000	41,106,000	38,474,000	35,485,000
contract liability - power purchase agreement and capacity payment reduction							41,049,000	40,735,000	41,662,000	43,254,000	48,087,000	48,087,000	54,038,000	88,114,000
contract liability - power purchase agreement							13,456,000	25,076,000	36,229,000	47,425,000	55,439,000	65,721,000		84,096,000
notes payable - related party									5,000,000
contract asset - coal purchase agreement														19,567,000
long-term bank debt, excluding current maturities											36,482,000	54,700,000	40,071,000
convertible note payable											10,000,000	10,000,000	10,000,000		10,000,000
preferred stock, .10 par value, 10,000 shares authorized; none issued and outstanding
contact asset - coal purchase agreement													6,178,000
contact liability - power purchase agreement													84,825,000
liabilities, redeemable noncontrolling interests, and stockholders' equity
redeemable noncontrolling interests																4,000,000	4,000,000	4,000,000	4,000,000	4,000,000	4,000,000	4,000,000	4,000,000	4,000,000	4,000,000	4,000,000	4,000,000	4,000,000	4,000,000	4,000,000	4,000,000	4,000,000	4,000,000
total liabilities, redeemable noncontrolling interests, and stockholders’ equity														630,554,000	383,361,000	375,735,000	357,876,000	353,980,000	363,085,000	377,830,000	384,208,000	384,130,000	400,207,000	411,659,000	415,689,000	425,627,000	508,811,000	512,895,000		515,499,000	526,036,000	523,416,000	518,832,000
current maturities, long-term bank debt															110,158,000
current portion of ppp note																				10,000,000	8,871,000	5,490,000	2,160,000	4,448,000
ppp note																					1,129,000	4,510,000	7,840,000	5,552,000
property, plant and equipment, at cost:
total property, plant and equipment, at cost																			583,284,000	574,610,000	569,067,000	561,603,000	562,621,000	560,428,000	559,647,000	550,496,000	666,938,000	661,223,000	649,627,000	637,368,000	645,812,000	637,547,000	630,978,000
certificates of deposit																										245,000	245,000	245,000	488,000	488,000	493,000	735,000	1,495,000	1,495,000	2,735,000	3,436,000	5,380,000	7,315,000																								1,291,000	2,969,000	3,467,000	3,464,000	3,458,000	1,021,000	2,862,000	2,838
prepaid income taxes																								975,000	981,000	1,562,000	1,614,000	1,188,000	1,266,000	2,606,000	1,244,000	2,540,000	2,521,000	2,899,000	1,588,000				3,481,000	3,211,000	2,443,000	5,312,000			4,365,000	5,791,000	2,541,000	340,000	3,475,000	4,661,000	3,591,000		1,670,000
less - accumulated dd&a																						-252,245,000		-240,964,000	-231,370,000	-220,780,000	-259,121,000		-236,440,000	-224,730,000	-235,889,000	-225,231,000	-214,189,000	-203,391,000	-196,805,000	-187,159,000	-178,123,000	-169,579,000	-175,983,000	-168,092,000	-159,089,000	-149,964,000	-138,949,000	-128,363,000	-117,806,000	-106,608,000	-94,523,000	-87,605,000	-82,472,000	-77,545,000	-72,418,000	-67,678,000	-63,039,000	-58,479,000	-54,346,000	-50,201,000	-46,257,000	-42,493,000	-38,525,000	-35,171,000	-31,789,000		-25,380,000	-22,586,000
parts and supplies, net of allowance of 274																							9,172,000	9,568,000	10,886,000
other long-term assets																							8,290,000	8,169,000	7,955,000
marketable securities																											2,023,000	2,074,000	2,047,000	1,842,000	1,888,000	1,791,000	1,795,000	1,907,000	1,924,000	1,852,000	1,779,000	1,763,000	1,702,000	1,654,000	1,481,000	1,343,000	1,427,000	1,645,000	1,670,000	1,656,000	1,720,000	1,753,000	1,621,000
parts and supplies, net of allowance of 274 and 1,595, respectively																										11,775,000	12,041,000
parts and supplies, net of allowance of 994 and 1,595, respectively																												11,534,000	10,729,000
less – accumulated dd&a																												-247,408,000
total liabilities, redeemable non-controlling interests, and stockholders’ equity																													507,169,000
parts and supplies, net of allowance of 1,595 and 795 in 2018 and 2017, respectively																														9,645,000
investment in savoy																																		8,037,000	7,986,000	7,833,000	7,789,000	7,577,000	10,520,000	10,494,000	10,237,000	12,365,000	13,787,000	13,880,000	14,033,000	13,896,000	19,258,000	18,582,000	17,444,000	16,733,000	15,401,000	13,506,000	13,026,000	12,230,000	13,190,000	13,145,000	13,376,000	12,133,000	11,165,000	10,816,000	9,165,000	7,717,000	6,138,000	6,562,000	6,449,000	6,259,000	6,955,000	7,362,000	7,652	7,911	11,615,000	11,993,000	11,861,000
accumulated other comprehensive income																																		915,000	821,000	756,000	774,000	728,000	656,000	618,000	34,000	-88,000	-61,000	165,000	263,000	365,000	460,000	567,000	413,000	379,000	223,000	133,000	204,000	30,000	50,000	42,000	55,000	41,000		44,000
coal inventory																																34,373,000	20,949,000	12,804,000	15,121,000	22,788,000	19,890,000	10,100,000	13,268,000	12,182,000	12,252,000	14,915,000	10,704,000	15,952,000	23,191,000	19,722,000	17,883,000	6,448,000	6,405,000	4,778,000	4,086,000	5,195,000	4,534,000	2,342,000	3,302,000	3,257,000	2,584,000	1,863,000	3,459,000	3,505,000	2,797,000	2,100,000	1,881,000	1,199,000	798,000	2,165,000	1,620,000	308,000	71	776	203,000	475,000	423,000
parts and supply inventory																																11,487,000	11,134,000	10,043,000	10,543,000	10,441,000	10,295,000	10,091,000	9,983,000	10,953,000	11,793,000	11,255,000	12,982,000	14,008,000	15,072,000	14,919,000	14,902,000	2,609,000	2,726,000	2,826,000	2,645,000	2,722,000	2,563,000	2,264,000	2,286,000	2,161,000	2,442,000	2,202,000	2,132,000	2,193,000	2,688,000	2,411,000
purchased coal contracts																																			2,045,000	4,480,000	6,845,000	8,922,000
coal properties, at cost:
total coal properties, at cost																																		623,397,000	615,595,000	604,678,000	594,523,000	592,339,000	615,974,000
total coal properties																																		420,006,000	418,790,000	417,519,000	416,400,000	422,760,000
coal properties, at cost: - sum																																								611,419,000	609,483,000	595,199,000			572,105,000	564,218,000	551,946,000	268,922,000	263,258,000	259,886,000	249,617,000	240,579,000	234,079,000	225,317,000	213,542,000	208,003,000	205,924,000	204,321,000	187,103,000	186,618,000	181,555,000	173,827,000	167,656,000	158,063,000	150,033,000	142,749,000	130,678,000	122,318,000
income tax receivable																																											4,835,000	6,936,000
liabilities and stockholders’ equity
current portion bank debt																																											26,250,000	26,250,000
stockholders’ equity:
2
28,962 shares outstanding, respectively																																													289,000
amounts due from vectren																																															8,200,000
current portion of long-term debt																																															19,688,000																								5,337,000	4,329,000	3,193,000
28,778 and 28,751 shares outstanding, respectively																																															287,000
see accompanying notes.
income taxes																																																						1,660,000	1,502,000	653,000	3,633,000	5,125,000	8,959,000	1,556,000
income taxes - current
preferred stock, .10 par value, 10,000 shares authorized;
none issued
28,529 shares outstanding for both periods																																																					285,000
land, buildings and equipment																																																							145,027,000	141,027,000	139,092,000	137,707,000	122,992,000	123,862,000	120,593,000	114,476,000	111,555,000	106,660,000	100,890,000	95,270,000	84,276,000	73,366,000	64,489	55,027
dividends payable																																																									4,080,000							2,937,000
prepaid federal income taxes																																																													2,061,000	3,853,000				1,511,000	1,486,000	888,000
bank debt, net of current portion																																																											10,000,000	12,500,000	15,000,000	17,500,000	20,000,000	22,500,000	25,000,000	27,500,000	30,000,000	32,500,000	35,000	37,500	30,686,000	33,028,000	33,862,000
total stockholders' equity																																																										160,993,000												72,883	68,151,000	42,947,000	38,969,000
interest rate swaps, at estimated fair value																																																											186,000	339,000	505,000	692,000	908,000	1,074,000	1,265,000	1,404,000	1,643,000	1,759,000	2,133	2,290	1,124,000	1,142,000	2,066,000
accumulated other comprehensive loss																																																											-87,000
additional paid-in capital`																																																												84,888,000
other comprehensive income																																																													6,000
state income tax payable																																																																		464,000	483,000	602,000	1,173	605
total equity																																																														126,733,000				108,627,000	102,198,000	86,008,000	82,562
income taxes receivable
income taxes payable																																																																	2,073,000
income taxes receiveable																																																																	1,000,000
liabilities and equity
equity:
hallador stockholders’ equity:
total hallador stockholders' equity																																																																		108,627,000	102,198,000	83,544,000	79,993
noncontrolling interest																																																																				2,464,000	2,569
less - accumulated depreciation, depletion, and amortization																																																																				-11,908,000	-9,890	-7,233	-5,816,000	-4,533,000
hallador stockholders' equity:
preferred stock, .10 par value, 10,000,000 shares authorized; none issued
assets current assets:
federal income tax receivable																																																																					417	1,531
hallador stockholders' equity
certificate of deposit – restricted
minority interest																																																																						1,683	753,000	865,000	310,000
cash – restricted																																																																							2,248,000	2,105,000
coal properties, at cost																																																																							87,232,000	68,856,000	66,732,000
contract termination obligation																																																																							4,345,000	4,346,000	4,346,000
*derived from the form 10-ksb.
accumulated deficit																																																																								-2,569,000	-6,316,000
cash - restricted																																																																									2,000,000
less – accumulated depreciation, depletion, and amortization																																																																									-3,507,000

Cashflow Statements:

Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-09-30	2016-06-30	2016-03-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31

cash flows from operating activities:
net income	-9,321,000	-240,000	23,884,000	8,248,000	9,979,000	-215,792,000	1,554,000	-10,204,000	-1,696,000	-10,248,000	16,075,000	16,915,000	22,051,000	30,013,000										254,000	-3,660,000
adjustments to reconcile net income to net cash from operating activities:
deferred income tax	-504,000					-5,846,000	232,000
equity method investment loss	121,000	163,000	248,000	-197,000	236,000
depreciation, depletion and amortization	10,606,000	11,561,000	9,142,000	5,542,000	14,977,000
gain on disposal or abandonment of assets	-201,000		-2,334,000	-55,000	-21,000
loss on extinguishment of debt	230,000					0	0	1,937,000	853,000	0
amortization of debt issuance costs	274,000	393,000	579,000	524,000	497,000	496,000	438,000	409,000	404,000	395,000	602,000	1,024,000	1,212,000	1,098,000	995,000	817,000	691,000	656,000	657,000	640,000	611,000
asset retirement obligations accretion	408,000	454,000	446,000	437,000	427,000	420,000	410,000	399,000	399,000	424,000	468,000	461,000	451,000	259,000	255,000	250,000	246,000	388,000	380,000	373,000	363,000
cash paid on asset retirement obligation reclamation	-148,000	-272,000	-144,000	-155,000	-156,000	-587,000	-218,000	37,000	-639,000	-1,098,000	-1,355,000	-566,000	-365,000	-679,000	-1,299,000	-481,000	-703,000
stock-based compensation	1,135,000	1,385,000	585,000	475,000	1,084,000	1,134,000	1,073,000	1,581,000	666,000	780,000	773,000	781,000	1,220,000	1,039,000	122,000	53,000	55,000	170,000	267,000	285,000	282,000	284,000	291,000	317,000	319,000
amortization of contract liabilities	-36,447,000	-17,044,000	-17,042,000	-29,928,000	-35,669,000
accretion on contract liabilities	2,834,000	2,749,000	2,444,000	1,655,000	1,560,000
amortization of right-of-use assets	87,000
other	1,533,000	-330,000	-10,000	-2,940,000	3,224,000	-709,000	-50,000	465,000	937,000	-304,000	210,000	253,000	451,000	-224,000	458,000	322,000	163,000	-523,000	-37,000	63,000	135,000			1,619,000	2,277,000													186,000	186,000	-589,000	478,000	-603,000	190,000					-4,172,000	95,000			-2,299,000	0	-47,000	130,000	1,445,000	155,000	127,000	-652,000	301,000	387,000	-295,000	509,000	1,747,000	-39,000	-1,838,000	692,000	-1,241,000	78,000	604,000
change in current assets and liabilities:
accounts receivable	4,837,000	10,774,000	-6,021,000	-6,160,000	2,856,000	-3,530,000	7,190,000	-4,870,000	5,709,000	755,000	736,000	11,730,000	-3,269,000	-13,145,000	411,000	-1,748,000	-1,823,000	2,871,000	-2,069,000	-753,000	781,000	1,424,000	-2,352,000	-791,000	12,885,000
inventory	-4,630,000	-14,528,000	15,564,000	-7,252,000	367,000	-5,608,000	1,518,000	-2,907,000	-6,613,000	674,000	24,196,000	-5,318,000	-4,004,000	-19,828,000	72,000	-5,031,000	-1,076,000	3,623,000	21,023,000	1,691,000	-9,373,000	12,140,000	4,468,000	-4,602,000	-9,113,000
parts and supplies	-2,039,000	-1,852,000	-1,247,000	-2,618,000	-1,033,000	559,000	-204,000	901,000	-1,483,000	-1,865,000	-3,153,000	-2,638,000	-2,926,000	-1,296,000	-2,743,000	-777,000	-1,455,000	-194,000	-526,000	-7,000	-385,000	269,000	396,000	1,318,000	889,000
prepaid expenses	-2,580,000	720,000	187,000	1,333,000	-330,000	1,882,000	-3,238,000	2,177,000	-37,000	70,000	834,000	-107,000	389,000	-3,551,000	-3,095,000	-942,000	1,647,000	-584,000	-4,523,000	134,000	-242,000		2,748,000	-1,163,000	159,000
accounts payable and accrued liabilities	7,427,000	-4,077,000	-3,139,000	1,938,000	3,124,000	-6,865,000	3,392,000	-3,092,000	-8,015,000	-7,573,000	448,000	-13,876,000	2,009,000	14,719,000	5,253,000	-2,498,000	6,563,000	1,884,000	3,308,000	1,310,000	4,342,000	4,083,000	547,000	-4,344,000	-1,691,000
contract liabilities	46,874,000	15,746,000	53,000	40,517,000	37,297,000
net cash from operating activities	20,496,000	8,156,000	23,195,000	11,364,000	38,419,000	38,949,000	-12,906,000	23,522,000	16,369,000
cash flows from investing activities:
capital expenditures	-7,681,000	-24,938,000	-19,540,000	-13,044,000	-11,693,000	-13,761,000	-11,562,000	-13,170,000	-14,874,000
free cash flows	12,815,000	-16,782,000	3,655,000	-1,680,000	26,726,000	25,188,000	-24,468,000	10,352,000	1,495,000
proceeds from sale of equipment	201,000	267,000	2,729,000	141,000	21,000	866,000	899,000	2,450,000	24,000	0	0	47,000	15,000	-103,000	0	627,000	131,000					0	0			5,000	0			13,000	35,000			0	163,000	18,000	325,000
net cash from investing activities	-7,480,000	-24,767,000	-16,883,000	-13,225,000	-11,672,000	-10,237,000	-10,663,000	-10,720,000	-14,850,000
cash flows from financing activities:
payments on bank debt	-56,700,000	-43,000,000	-19,000,000	-11,000,000	-33,000,000	-60,500,000	0	-60,000,000	-26,500,000	-3,250,000	-19,450,000	-10,000,000	-27,013,000	-42,512,000	-21,013,000	-5,512,000	-9,188,000	-9,187,000	-18,187,000	-9,687,000	-9,188,000	-9,187,000	-14,188,000	-14,187,000	-12,100,000	-7,350,000	-7,350,000	-7,350,000	-20,013,000				-16,255,000		-14,750,000	-6,562,000	-6,563,000	-26,492,000	-14,929,000	-8,366,000	-40,312,000	-28,750,000	-14,375,000
borrowings of bank debt	26,700,000	29,000,000	18,000,000	33,000,000	12,000,000	34,500,000	24,500,000	28,500,000	12,000,000	33,000,000	7,000,000	9,000,000	17,000,000	14,000,000	4,000,000	16,200,000	17,500,000	6,000,000	3,000,000	3,750,000	7,500,000	0	0			15,500,000	6,250,000				5,000,000
payments on lease financing	-3,172,000	-1,807,000	-1,766,000	-1,728,000	-1,693,000	-1,528,000	-1,440,000	-1,427,000	-1,238,000
debt issuance costs	-5,780,000	0	0			-19,000	-578,000	-38,000	-38,000	-73,000	-4,311,000	-29,000	-1,600,000	0	-1,507,000	0	-590,000	0	0												-122,000
proceeds from atm offering, net of issuance costs	201,000
proceeds from public offering, net of issuance costs	53,764,000
taxes paid on vesting of rsus	-38,000	-1,202,000	-434,000			-4,000	0	-272,000	-1,000	-951,000	-41,000	0	-1,109,000					-272,000	0	0	-2,000					-344,000
net cash from financing activities	14,975,000	-3,499,000	-3,200,000	18,024,000	-22,693,000	-26,200,000	22,482,000	-8,446,000	-2,270,000
increase in cash, cash equivalents, and restricted cash	27,991,000	-20,110,000	3,112,000	16,163,000	4,054,000	2,512,000	-1,087,000			407,000	346,000	21,000	-77,000	-4,057,000	-1,890,000	4,796,000	1,748,000									2,224,000			-6,747,000	-1,312,000	6,987,000	-4,145,000	2,270,000
cash, cash equivalents, and restricted cash, beginning of period	15,372,000		0	0	12,153,000		0	0	7,123,000		0	0	6,426,000		0	0	5,829,000		0	0	12,071,000		0	0	13,311,000		0	0	20,094,000		0	0	16,294,000
cash, cash equivalents, and restricted cash, end of period	43,363,000		3,112,000	16,163,000	16,207,000		-1,087,000	4,356,000	6,372,000		346,000	21,000	6,349,000		-1,890,000	4,796,000	7,577,000		1,718,000	-1,557,000	7,634,000		-2,338,000	-769,000	12,652,000		105,000	-2,365,000	13,347,000		6,987,000	-4,145,000	18,564,000
cash, cash equivalents, and restricted cash:
cash and cash equivalents	36,778,000	-2,593,000	3,435,000	2,337,000	6,891,000	3,403,000	-2,617,000	4,811,000	1,635,000	269,000	236,000	-104,000	2,441,000	-3,991,000	-1,882,000	4,593,000	4,289,000	-2,000,000	1,964,000	-1,281,000	3,863,000	2,739,000	-2,073,000	-543,000	7,918,000	2,438,000	-45,000	-2,284,000	8,690,000				14,449,000
restricted cash	6,585,000	-17,517,000	-323,000	13,826,000	9,316,000	-891,000	1,530,000	-455,000	4,737,000	138,000	110,000	125,000	3,908,000	-66,000	-8,000	203,000	3,288,000	34,000	-246,000	-276,000	3,771,000	-213,000	-265,000	-226,000	4,734,000	-214,000	150,000	-81,000	4,657,000				4,115,000
cash, cash equivalents, and restricted cash: - sum	43,363,000	-20,110,000	3,112,000	16,163,000	16,207,000	2,512,000	-1,087,000	4,356,000	6,372,000
supplemental cash flow information:
cash paid for interest	1,002,000	1,987,000	1,950,000	938,000	1,830,000	1,832,000	2,367,000	3,229,000	3,083,000	1,897,000	3,059,000	1,894,000	3,116,000	3,332,000	736,000	2,011,000	2,044,000	1,992,000	2,282,000	2,301,000	2,145,000	2,545,000	2,675,000	2,864,000	2,707,000																																					607,000	969,000	726,000	649,000	963,000	571,000	868,000	768,000	672,000
non-cash change in capital expenditures included in accounts payable and prepaid expense	9,981,000
right-of-use asset additions	2,402,000
asset impairment																						0
loss on disposal or abandonment of assets
director fees paid in stock
proceeds from held-for-sale assets
investment in equity method investments		-96,000	-72,000
proceeds from sale and leaseback arrangement						1,351,000	0	1,856,000	1,927,000
issuance of related party notes payable						0	0	0	5,000,000
payments on related party notes payable						0	0
atm offering						0	0	27,935,000	6,580,000
cash, cash equivalents, and restricted cash, beginning of year
cash, cash equivalents, and restricted cash, end of year
supplemental cash flow disclosures:
non-cash change in capital expenditures related to accounts payable and prepaid expenses
stock issued on redemption of convertible notes and interest							0	13,272,000	9,721,000
supplemental non-cash flow information:
change in capital expenditures included in accounts payable and prepaid expense			-6,698,000	2,492,000	-1,649,000	8,181,000	-6,131,000	3,596,000	-5,290,000		2,788,000	306,000	120,000		392,000	2,645,000	-641,000		2,169,000	1,741,000	1,872,000
equity method investment
cash distribution - equity method investment
amortization of contract asset and contract liabilities						-34,029,000	-11,306,000	-12,080,000	-12,788,000	-7,347,000	-10,282,000	-6,593,000	-15,569,000
equity loss – sunrise energy							234,000	257,000	249,000													113,000	119,000	-1,231,000	-55,000
cash distribution - sunrise energy										0	0	0	625,000									0
depreciation, depletion, and amortization							13,838,000	13,649,000	15,443,000		16,230,000	17,169,000	17,976,000		11,187,000	11,164,000	9,531,000		9,842,000	9,715,000	10,307,000
loss on sale of assets							-290,000	-222,000	-24,000	320,000	20,000	37,000	21,000				57,000					0
change in operating assets and liabilities:
deferred revenue							-27,479,000	38,096,000	23,614,000	-8,150,000	-15,394,000	-2,868,000	2,989,000
deferred income taxes									-610,000	-3,009,000	3,208,000	1,510,000	2,920,000	916,000	596,000	421,000	-177,000	2,717,000	-1,359,000	397,000	-1,729,000	597,000	-387,000	-618,000	-1,652,000
decrease in cash, cash equivalents, and restricted cash									-751,000									-1,966,000	1,718,000	-1,557,000	-4,437,000	2,526,000	-2,338,000	-769,000	-659,000
equity income – sunrise energy												217,000	-69,000	63,000	-168,000	-188,000	-150,000	-211,000	-90,000
payments on interest rate swap, net of changes in value
provision for loss on customer contracts														0	0	0	159,000
issuance of convertible notes payable
issuance of related party convertible notes payable														0	9,000,000
distributions to redeemable noncontrolling interests														0
change in capital expenditures included in accounts payable and finance lease
operating activities:
change in fair value of interest rate swaps															0	-250,000	-617,000	-696,000	-716,000	-766,000	-848,000	-913,000	-995,000	-617,000	2,593,000
cash from operating activities											35,284,000	18,131,000	26,112,000		13,656,000	-2,698,000	2,977,000	10,943,000	24,143,000	9,915,000	2,973,000	18,467,000	16,935,000	918,000	16,256,000	1,920,000	12,612,000	2,864,000	20,847,000	21,286,000	14,419,000					10,882,000	12,576,000	43,691,000	30,389,000	19,113,000	76,573,000			35,136,000	4,293,000	10,258,000	6,179,000	6,871,000	7,349,000	6,628,000	6,333,000	7,490,000	15,852,000	4,121,000	9,579,000	20,307,000	27,861,000	13,866,000	11,880,000					8,587,000				4,426,000	2,010,000	730,000
investing activities:
cash from investing activities											-18,136,000	-17,081,000	-13,467,000		-15,441,000	-13,194,000	-8,951,000	-9,450,000	-7,238,000	-5,117,000	-5,720,000	-6,697,000	-5,084,000	-2,830,000	-3,579,000	-6,252,000	-8,976,000	-8,630,000	-6,340,000	-9,552,000	-5,561,000					-6,800,000	-833,000	-29,624,000	-25,689,000	-24,642,000	-26,631,000			-3,200,000	-324,962,000	-6,190,000	-2,936,000	-7,797,000	-7,314,000	-9,035,000	-9,819,000	-9,418,000	-5,031,000	-1,888,000	-4,017,000	-14,505,000	-12,679,000	-6,683,000	-12,808,000	-6,122,000	-7,691,000	-10,421,000	-12,897,000	-5,943,000	-13,182,000	-14,640,000	-8,564,000	-16,848,000
financing activities:
issuance of convertible note
cash from financing activities											-16,802,000	-1,029,000	-12,722,000		-105,000	20,688,000	7,722,000	-3,459,000	-15,187,000	-6,355,000	-1,690,000	-9,244,000	-14,189,000	1,143,000	-13,336,000	6,556,000			-21,254,000	-13,046,000	-1,871,000					-7,765,000	-7,769,000	-17,179,000	-4,413,000	3,350,000	-43,908,000			-40,485,000	321,662,000	-1,320,000	-1,194,000	3,441,000	-1,158,000			-6,397,000	-16,866,000	-6,556,000	-2,523,000	-1,810,000	-7,927,000	-2,500,000	-2,173,000	-5,438,000	-2,498,000	-3,343,000		-3,726,000
cash, cash equivalents, and restricted cash consist of the following:
convertible notes payable and related party convertible notes payable converted to common stock															0
debt issuance costs included in accounts payable and accrued liabilities
gain on extinguishment of debt																		0
change in fair value of fuel hedge																		82,000	0	-140,000	-239,000	-453,000	-138,000	-398,000	1,311,000
asset retirement obligations change in estimate
change in capital expenditures included in accounts payable and prepaid expenses
gain on sale of assets															0
issuance of convertible note payable															10,000,000
net loss																-3,386,000	-10,134,000			-2,964,000	-1,032,000	-4,737,000
unrealized gain on marketable securities																						0	0	0	-14,000
prepaid income taxes																						0	976,000	5,000	581,000
proceeds from sale of marketable securities																						0	0	0	2,310,000
proceeds from maturities of certificates of deposit																								0	245,000	0	0			7,000	240,000			1,240,000	701,000	1,944,000	1,935,000
investment in sunrise energy																						0			-112,000																											0	0	0	-506,000
proceeds from ppp note																						0
dividends																								0	-1,236,000	-1,241,000	-1,241,000	-1,242,000	-1,241,000	-1,235,000	-1,236,000	-1,235,000	-1,236,000	-1,241,000	-1,242,000	-1,203,000	-1,206,000	-3,597,000	-2,394,000	-1,194,000	-3,596,000	-2,398,000	-1,200,000	-1,205,000	-1,199,000	-1,200,000	-1,194,000	-1,159,000	-1,158,000			-4,653,000	-14,641,000			0	-3,505,000
proceeds from ppp loan
dividends paid
distribution from sunrise energy
dd&a																						9,485,000	9,315,000	10,217,000	10,627,000
gain on sale of royalty interests in oil properties
amortization and write off of deferred financing costs																								609,000	467,000
accretion of aro																						357,000	348,000	343,000	333,000
proceeds from sale of royalty interests in oil properties																										0	0	449,000	2,500,000
deferred financing costs																										-9,000																		0
right-of-use assets acquired by operating lease
amortization and write off of debt issuance costs
maturities of certificates of deposit
payments of debt issuance costs
taxes paid on vesting of restricted stock units
capital expenditures included in accounts payable and prepaid expense																							-559,000	-1,989,000	3,516,000
right-of-use assets acquired in exchange for operating lease liabilities
distribution from investment in sunrise energy
cash received from income taxes																								6,000	1,105,000
unrealized loss on marketable securities
allowance for parts and supplies inventory obsolescence
proceeds from sale of savoy																														0	0	0	8,000,000
proceeds from noncontrolling interests																														0	0	0	4,000,000
cash received for income taxes
proceeds from redeemable noncontrolling interests
non-cash investing activities:
change in capital expenditures included in accounts payable
right-to-use asset due to adoption of asu 2016-02																											-60,000	516,000	426,000
cash from financing activities:
capital expenditures included in accounts payable																												2,294,000	3,250,000
bank borrowings																																	5,000,000					15,000,000	15,000,000	15,000,000				0
proceeds from non-controlling interests
cash, cash equivalents, and restricted cash consist of the following: - sum																													13,347,000
equity loss – savoy and sunrise energy
cash distributions - savoy and sunrise energy
amortization of purchased coal contracts
payments of bank debt																														-11,513,000	-5,513,000																									-2,500,000	-5,000,000	-2,500,000	-2,500,000	-2,500,000	-2,500,000	-2,500,000	-4,000,000				-36,023,000
proceeds from bulldog property
cash, cash equivalents, and restricted cash beginning of year
cash, cash equivalents, and restricted cash end of year
cash, cash equivalents, and restricted cash consists of the following:
cash
cash, cash equivalents, and restricted cash consists of the following: - sum
cash paid for income taxes
cash provided by operating activities																																	13,189,000									57,810,000	21,963,000																		8,511,000	14,769,000				13,391,000
cash used in investing activities																																	-2,428,000									-23,642,000	-8,060,000																											-2,337,000
cash used in financing activities																																	-8,491,000									-31,148,000	-15,575,000
coal inventory
parts and supply inventory
purchase of freelandville and log creek assets
purchase of certificates of deposit
increase in cash and cash equivalents																																				-3,683,000	3,974,000	-3,112,000	287,000		6,034,000	3,020,000			993,000	2,748,000	2,049,000				-3,486,000	-8,325,000	-6,045,000	-4,323,000	3,039,000	3,992,000	7,255,000	4,683,000
cash and cash equivalents, beginning of year
cash and cash equivalents, end of year
purchase of freelandville assets																																						-18,000,000	-18,000,000	-18,000,000
decrease in cash and cash equivalents																																								-2,179,000								2,515,000	-1,123,000										-3,101,000	-1,175,000
cash and cash equivalents, beginning of period																																			0	0	9,788,000	15,930,000	15,930,000	15,930,000	13,469,000	13,469,000	13,469,000		0	0	16,228,000		0	0	21,888,000		0	0	37,542,000		10,277,000	10,277,000		0	0	15,226,000		0	0	21,013,000		0	0	6,978,000
cash and cash equivalents, end of period																																			-672,000	-3,683,000	13,762,000	12,818,000	16,217,000	13,751,000	19,503,000	16,489,000	11,797,000		993,000	2,748,000	18,277,000		-1,123,000	-3,566,000	18,402,000		-6,045,000	-4,323,000	40,581,000		17,532,000	14,960,000		-1,175,000	-1,678,000	16,231,000		-1,082,000	-3,932,000	19,764,000		8,180,000	-933,000	7,069,000
cash distributions from savoy and sunrise energy
vectren acquisition
increase in aro
debt issuance cost																																						-2,090,000	-2,090,000	-2,090,000
capital expenditures for coal properties																																							-7,875,000		-27,109,000	-23,039,000		-11,509,000	-5,200,000	-6,190,000	-2,936,000	-7,834,000	-8,780,000	-6,174,000	-8,604,000	-16,987,000	-4,993,000	-1,857,000	-2,372,000	-15,970,000	-12,558,000	-6,858,000	-10,087,000	-6,423,000	-8,078,000	-10,126,000	-9,856,000	-7,690,000	-13,143,000	-12,802,000	-11,046,000	-4,588,000	-3,323,000	-2,941,000
mining equipment																																								-6,053,000			-8,250,000
balance, january 1, 2016																																								29,251,000
balance, march 31, 2016																																								29,251,000
liability extinguishment
cash distributions from savoy
income taxes
vectren fuels acquisition
increase (decrease) in cash and cash equivalents																																											-1,672,000																			1,005,000				-1,249,000	6,697,000			91,000
balance, january 1, 2015																																											28,962,000
balance, march 31, 2015																																											28,962,000
equity income – savoy and sunrise energy
ohio river terminal																																																30,000	-43,000
purchase of marketable securities																																																					-38,000
marketable securities
gain on sale
proceeds from sale of properties
stock option buy-out
payments to bank																																																					-2,500,000	-2,500,000	-2,500,000
increase in marketable securities																																																			-1,215,000				-1,269,000
tax benefit from stock-based compensation																																																								545,000	595,000
changes in accounts payable for coal properties																																																														-2,848,000
proceeds from sale of unproved oil and gas properties																																																								1,573,000
capital expenditures for unproved oil and gas properties																																																								-4,000	-1,567,000	-1,243,000
proceeds from cds																																																									1,291,000	1,291,000
income tax accounts
investment in savoy
change in cds
stock option buy out for cash																																																												0	0	-679,000
equity loss – savoy
capital expenditures for oil and gas properties
investment in sunrise energy joint venture
proceeds from bank debt																																																																			40,000,000	0	302,000	1,698,000
proceeds from stock sales																																																															8,000
acquisition of remaining 20% interest in sunrise
cash distributions to noncontrolling interests																																																													2,000	-164,000	0	-313,000
cash dividends																																																											0
non cash portion of sunrise buyout
cash distributions to former noncontrolling interests
see accompanying notes.
net income including noncontrolling interests
impairment – savoy
gain on sale of oil and gas properties
acquisition of additional 20% interest in sunrise*
acquisition of remaining 20% interest in sunrise*																																																															0
cash (used in) provided by financing activities
cash paid for state income taxes																																																																0
change in accounts payable for coal properties																																																																668,000				2,494,000
cash provided by financing activities																																																																					302,000	1,698,000
minority interest
equity income (loss) – savoy
cash provided by (used in) operating activities
acquisition of additional 20% interest in sunrise																																																																			-1,000
sales of oil and gas properties																																																																			1,924,000
capital contributions from sunrise minority owners
proceeds from exercise of stock options
non-cash investing activity -accounts payable for coal properties
acquisition of minority interest																																																																			0
proceeds from stock sale
increase in deferred financing costs

Hallador Energy Company(NASDAQ:HNRG)

Hallador Energy Company
(NASDAQ:HNRG)