The company also expects to hold a conference call to discuss its second quarter 2020 results at The conference call will be available live on the investor section of the company's website at This news release includes forward-looking statements.
We believe this direction with Cumberland makes the most sense for Contura, both from a short-term cost perspective and a longer-term strategic standpoint. Please go ahead.No, you probably would have been doing everybody in favor, a big favor. And as usual, it's not there's not a good bifurcation between thermal and met coal.
Please also see those documents for information about our use of non-GAAP measures and their reconciliation to GAAP measures. Cayla Nimmo, Star-Tribune Facebook Does that mean that you expect costs to be closer to the low 70s in the second half of the year? Contura Energy Announces Layoffs. Contura Energy Inc gets a 83 rank in the Thermal Coal industry. Of course, the hope is that summer numbers are making are marked in the bottom, but that remains to be seen. Contura Energy, Inc Q2 2020 Earnings Call Aug 7, 2020, 10:00 a.m. The only change from our previous discussion of this topic is the expected timing of the refund, not our expectation of receiving it. We successfully converted around $41 million of inventory into cash during that month, which helped us increase our cash balance in the second quarter by $11 million over the first, despite the difficult environment in our end markets. Second quarter continued to show our strong performance on cost with CAPP-Met segment, reporting a cost of $74.41.
Contura Energy Announces Layoffs. To look at our cost reduction progress in Central Appalachia a little differently, I do want to hound on this a little bit.
Well, great job on the cost side, in particular, echoing what everybody else said before and look forward to chatting next quarter.This concludes our question-and-answer session. "Cost of coal sales (exclusive of items shown separately below)Selling, general and administrative expenses (exclusive of depreciation, depletion and amortization shown separately above)Mark-to-market adjustment for acquisition-related obligations(Loss) income from continuing operations before income taxesLoss from discontinued operations before income taxesTrade accounts receivable, net of allowance for doubtful accounts of Property, plant, and equipment, net of accumulated depreciation and amortization of Owned and leased mineral rights, net of accumulated depletion and amortization of Other acquired intangibles, net of accumulated amortization of Adjustments to reconcile net loss to net cash provided by operating activities:Accretion of acquisition-related obligations discountAmortization of debt issuance costs and accretion of debt discountMark-to-market adjustment for acquisition-related obligationsPrincipal repayments of financing lease obligationsNet increase in cash and cash equivalents and restricted cashCash and cash equivalents and restricted cash at beginning of periodCash and cash equivalents and restricted cash at end of periodShort-term restricted cash (included in prepaid expenses and other current assets)Total cash and cash equivalents and restricted cash shown in the Condensed Consolidated Statements of Cash FlowsMark-to-market adjustment - acquisition-related obligationsCost impact of coal inventory fair value adjustment Gain on assets acquired in an exchange transaction Management restructuring costs are related to severance expense associated with senior management changes.Asset impairment and restructuring for the six months ended The cost impact of the coal inventory fair value adjustment as a result of the Alpha Merger was completed during the three months ended Cost of coal sales (exclusive of items shown separately below)Depreciation, depletion and amortization - productionLess: Depreciation, depletion and amortization - productionDepreciation, depletion and amortization - production excludes the depreciation, depletion and amortization related to selling, general and administrative functions.Add: Depreciation, depletion and amortization - productionDepreciation, depletion and amortization - production excludes the depreciation, depletion and amortization related to selling, general and administrative functions.Cost of coal sales (exclusive of items shown separately below)Depreciation, depletion and amortization - productionLess: Depreciation, depletion and amortization - productionDepreciation, depletion and amortization - production excludes the depreciation, depletion and amortization related to selling, general and administrative functions.Add: Depreciation, depletion and amortization - productionDepreciation, depletion and amortization - production excludes the depreciation, depletion and amortization related to selling, general and administrative functions.Cost of coal sales (exclusive of items shown separately below)Depreciation, depletion and amortization - productionLess: Depreciation, depletion and amortization - productionLess: Cost impact of coal inventory fair value adjustment Depreciation, depletion and amortization - production excludes the depreciation, depletion and amortization related to selling, general and administrative functions.The cost impact of the coal inventory fair value adjustment as a result of the Alpha Merger was completed during the three months ended Add: Depreciation, depletion and amortization - productionAdd: Cost impact of coal inventory fair value adjustment Depreciation, depletion and amortization - production excludes the depreciation, depletion and amortization related to selling, general and administrative functions.The cost impact of the coal inventory fair value adjustment as a result of the Alpha Merger was completed during the three months ended Cost of coal sales (exclusive of items shown separately below)Depreciation, depletion and amortization - productionLess: Depreciation, depletion and amortization - productionDepreciation, depletion and amortization - production excludes the depreciation, depletion and amortization related to selling, general and administrative functions.Add: Depreciation, depletion and amortization - productionDepreciation, depletion and amortization - production excludes the depreciation, depletion and amortization related to selling, general and administrative functions.Cost of coal sales (exclusive of items shown separately below)Depreciation, depletion and amortization - productionLess: Depreciation, depletion and amortization - productionLess: Cost impact of coal inventory fair value adjustment Depreciation, depletion and amortization - production excludes the depreciation, depletion and amortization related to selling, general and administrative functions.The cost impact of the coal inventory fair value adjustment as a result of the Alpha Merger was completed during the three months ended Add: Depreciation, depletion and amortization - productionAdd: Cost impact of coal inventory fair value adjustment Depreciation, depletion and amortization - production excludes the depreciation, depletion and amortization related to selling, general and administrative functions.The cost impact of the coal inventory fair value adjustment as a result of the Alpha Merger was completed during the three months ended Cost of produced coal sold per ton for our operations is calculated as non-GAAP cost of produced coal sold divided by produced tons sold. Thermal Coal is number 128 out of 148 industries. If that if those particular assumptions hold true, I think that math works. So again, this just goes to point out that it's not just CAPP-Met we're seeing cost improvements across the board and really, a testament to operations in the entire company for continuing to monitor cost and control everything that we can control. First and second quarters 2020 no longer have discontinued operations.Includes discontinued operations. As a company, we've done well in implementing additional precautions and protocols in response to ever-changing guidelines and I'm proud of how the Contura team continues to meet, and in most cases, exceed expectations even in such adverse circumstances.
These projects demonstrate our commitment: building a leaner, more sustainable portfolio of lower cost, higher quality mines to help us strengthen our cost structure and increase our sales capabilities over time. This transition is well under way, and I am confident that we have the right strategy and the right team in place to execute on our plan successfully. Just making sure. That makes sense.
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