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# Arch Resources EBIT

: \$150 Mil (TTM As of Mar. 2020)
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Arch Resources's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2020 was \$-24 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2020 was \$150 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Arch Resources's annualized ROC % for the quarter that ended in Mar. 2020 was -6.19%. Arch Resources's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2020 was -8.39%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Arch Resources's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2020 was 26.62%.

## Arch Resources EBIT Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

 Arch Resources Annual Data Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 EBIT     -2,888.54 1,419.19 230.10 280.57 250.53

## Arch Resources EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Mar. 2020 was 67.306 (Jun. 2019 ) + 111.165 (Sep. 2019 ) + -5.182 (Dec. 2019 ) + -23.702 (Mar. 2020 ) = \$150 Mil.

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

Arch Resources  (NYSE:ARCH) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Arch Resources's annualized ROC % for the quarter that ended in Mar. 2020 is calculated as:

 ROC % (Q: Mar. 2020 ) = NOPAT / Average Invested Capital = Operating Income * ( 1 - Tax Rate % ) / ( (Invested Capital (Q: Dec. 2019 ) + Invested Capital (Q: Mar. 2020 )) / count ) = -90.624 * ( 1 - 6.61% ) / ( (1325.886 + 1406.47) / 2 ) = -84.6337536 / 1366.178 = -6.19 %

where

 Invested Capital (Q: Dec. 2019 ) = Total Assets - Accounts Payable & Accrued Expense - Excess Cash = Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets + Cash, Cash Equivalents, Marketable Securities )) = 1867.756 - 253.183 - ( 288.687 - max(0, 310.98 - 706.747 + 288.687 )) = 1325.886

 Invested Capital (Q: Mar. 2020 ) = Total Assets - Accounts Payable & Accrued Expense - Excess Cash = Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets + Cash, Cash Equivalents, Marketable Securities )) = 1857.506 - 216.822 - ( 234.214 - max(0, 280.482 - 639.537 + 234.214 )) = 1406.47

Note: The Operating Income data used here is four times the quarterly (Mar. 2020) data.

2. Joel Greenblatt's definition of Return on Capital:

Arch Resources's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2020 is calculated as:

 ROC (Joel Greenblatt) % (Q: Mar. 2020 ) = EBIT / Average of (Net fixed Assets + Net Working Capital) = EBIT / Average of (Property, Plant and Equipment + Net Working Capital) Q: Dec. 2019 Q: Mar. 2020 = EBIT / ( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) ) / count ) = -94.808 / ( ( (984.509 + max(106.69, 0)) + (1035.776 + max(134.281, 0)) ) / 2 ) = -94.808 / ( ( 1091.199 + 1170.057 ) / 2 ) = -94.808 / 1130.628 = -8.39 %

where Working Capital is:

 Working Capital (Q: Dec. 2019 ) = (Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities) = (168.125 + 130.898 + 97.894) - (253.183 + 0 + 37.044) = 106.69

 Working Capital (Q: Mar. 2020 ) = (Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities) = (149.225 + 149.986 + 87.096) - (216.822 + 0 + 35.204) = 134.281

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2020) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

Arch Resources's Earnings Yield (Joel Greenblatt) %for the quarter that ended in Mar. 2020 is calculated as:

 Earnings Yield (Joel Greenblatt) % = EBIT (TTM) / Enterprise Value (Q: Mar. 2020 ) = 149.587 / 561.9107 = 26.62 %

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.