Alliance Resource Partners, L.P. Reports Record Quarterly Coal Production, Net Income and EBITDA; Raises Quarterly Cash

  Alliance Resource Partners, L.P. Reports Record Quarterly Coal Production,
  Net Income and EBITDA; Raises Quarterly Cash Distribution 2.1% to $1.2225
  Per Unit; Announces Two-for-One Unit Split; and Increases Guidance

Business Wire

TULSA, Okla. -- April 28, 2014

Alliance Resource Partners, L.P. (NASDAQ: ARLP) today reported financial and
operating results for the quarter ended March 31, 2014 (the "2014 Quarter").
On the strength of record coal production and solid cost control in each of
its operating regions, ARLP’s net income rose 12.6% to a record $115.9
million, or net income per basic and diluted limited partner unit of $2.20 per
unit, a 12.8% increase compared to the quarter ended March 31, 2013 (the "2013
Quarter"). EBITDA also climbed to a record $190.4 million for the 2014
Quarter, an increase of 10.0% compared to the 2013 Quarter. (For a definition
of EBITDA and related reconciliations to comparable GAAP financial measures,
please see the end of this release.)

ARLP also announced that the Board of Directors of its managing general
partner (the "Board") increased the cash distribution to unitholders for the
2014 Quarter to $1.2225 per unit (an annualized rate of $4.89 per unit),
payable on May 15, 2014 to all unitholders of record as of the close of
trading on May 8, 2014. The announced distribution represents an 8.2% increase
over the cash distribution of $1.13 per unit for the 2013 Quarter and a 2.1%
increase over the cash distribution of $1.1975 per unit for the quarter ended
December 31, 2013 (the "Sequential Quarter").

The Board also approved a two-for-one split of ARLP’s common units. The unit
split will take place in the form of a one unit distribution on each unit
outstanding, with units to be distributed on June 16, 2014 to unitholders of
record as of May 30, 2014. Following the unit split, unitholders of record
will own twice the number of units and the current quarterly cash distribution
per unit will be reduced by half; for example, the 2014 Quarter distribution
of $1.2225 per unit would have been $0.61125 per unit, or an annualized rate
of $2.445 per unit. As a result, the total distribution received by ARLP
unitholders would have been the same after consummation of the unit split.

"ARLP continued its record-setting performance in the first quarter of 2014,
starting the year by establishing new quarterly benchmarks for coal
production, EBITDA and net income," said Joseph W. Craft III, President and
Chief Executive Officer. "Several factors contributed to these strong results.
Our Tunnel Ridge mine completed a major longwall move in late January and its
revised mine plan performed above expectations for the quarter, helping drive
production in our Appalachian region higher by almost 25%. Collectively, our
operations were able to operate efficiently despite severe winter weather
during the quarter, pushing ARLP’s sequential Segment Adjusted EBITDA expense
lower by 6.5% or $2.34 per ton sold.

Mr. Craft added, "Initial production at our new Gibson South mine also began
this month, ahead of schedule. The increased production now expected this year
from both Tunnel Ridge and Gibson South, combined with ARLP booking
approximately 7.8 million tons of new sales commitments during the 2014
Quarter, put us on track to achieve our fourteenth consecutive year of record
results. Based on our record quarterly results and its confidence in ARLP’s
future performance and growth prospects, the Board announced today a
two-for-one unit split and elected to increase unitholder distributions for
the twenty-fourth consecutive quarter."

Consolidated Financial Results

Three Months Ended March 31, 2014 Compared to Three Months Ended March 31,
2013

For the 2014 Quarter, revenues decreased slightly to $542.0 million compared
to $548.1 million for the 2013 Quarter. Weather-related transportation
disruptions in the Illinois Basin and the cessation of operations at the
Pontiki mine in November 2013 resulted in lower coal sales volumes in the 2014
Quarter, which declined 2.1% to 9.5 million tons sold, despite higher sales
volumes from our longwall operation at Tunnel Ridge. ARLP’s total average coal
sales price of $55.35 per ton sold in the 2014 Quarter was slightly higher
compared to $55.12 per ton sold for the 2013 Quarter.

Increased production from the Tunnel Ridge mine and strong performance at the
Dotiki and MC Mining mines contributed to record coal production of 10.3
million tons in the 2014 Quarter, an increase of 4.4% compared to the 2013
Quarter. Although total coal production increased during the 2014 Quarter,
total operating expenses declined by 7.6% compared to the 2013 Quarter. This
decrease reflects a favorable production mix in the 2014 Quarter, primarily
due to increased longwall production and improved recoveries at our Tunnel
Ridge mine and the absence of higher cost production at the Pontiki mine. As
discussed below, Segment Adjusted EBITDA Expense per ton sold declined to
$33.91 in the 2014 Quarter, an improvement of 5.8% compared to $35.98 in the
2013 Quarter.

General and administrative expenses increased to $17.4 million in the 2014
Quarter, primarily as a result of higher incentive compensation-related
expenses. Depreciation, depletion and amortization increased to $66.8 million
in the 2014 Quarter, primarily as a result of the increased production volumes
mentioned above, as well as capital expenditures related to production
expansion and infrastructure investments at various operations.

As anticipated, ARLP’s financial results for both the 2014 and 2013 Quarters
were negatively impacted by losses related to White Oak’s development of its
Mine No. 1. Since our equity investment in White Oak entitles ARLP to receive
substantially all distributions from White Oak until we achieve our
contractual preferred return, ARLP currently reflects substantially all of
White Oak’s income and losses in its financial results. Reported net equity in
loss of affiliates of $6.2 million for the 2014 Quarter and $3.9 million for
the 2013 Quarter was primarily due to the allocation of losses related to
White Oak’s mine development activities.

                                                          
Regional Results and Analysis
                                                                                     
(in              2014          2013          % Change       2013
millions,        First         First         Quarter                      % Change
except per                                   /              Fourth        Sequential
ton data)        Quarter       Quarter       Quarter        Quarter
                                                                                     
Illinois
Basin
Tons sold          7.482         7.706       (2.9  )%         7.789       (3.9   )%
Coal sales
price per        $ 52.42       $ 51.95       0.9   %        $ 52.82       (0.8   )%
ton (1)
Segment
Adjusted
EBITDA           $ 30.68       $ 30.38       1.0   %        $ 31.31       (2.0   )%
Expense
per ton
(2)
Segment
Adjusted         $ 163.6       $ 167.2       (2.2  )%       $ 168.8       (3.1   )%
EBITDA (2)
                                                                                     
Appalachia
(3)
Tons sold          2.013         1.783       12.9  %          1.896       6.2    %
Coal sales
price per        $ 66.24       $ 66.04       0.3   %        $ 63.95       3.6    %
ton (1)
Segment
Adjusted
EBITDA           $ 42.52       $ 53.80       (21.0 )%       $ 49.52       (14.1  )%
Expense
per ton(2)
Segment
Adjusted         $ 48.9        $ 23.0        112.6 %        $ 28.5        71.6   %
EBITDA (2)
                                                                                     
Total (4)
Tons sold          9.495         9.698       (2.1  )%         9.816       (3.3   )%
Coal sales
price per        $ 55.35       $ 55.12       0.4   %        $ 55.31       0.1    %
ton (1)
Segment
Adjusted
EBITDA           $ 33.91       $ 35.98       (5.8  )%       $ 36.25       (6.5   )%
Expense
per ton
(2)
Segment
Adjusted      $ 207.9    $ 188.4    10.4  %     $ 192.8    7.8    %
EBITDA (2)
                                                                                     
(1) Sales price per ton is defined as total coal sales divided by total tons sold.
(2) For definitions of Segment Adjusted EBITDA expense per ton and Segment Adjusted
EBITDA and related reconciliations to comparable GAAP financial measures, please see
the end of this release.
(3) In the 2014 Quarter, ARLP realigned its segment presentation. The Appalachia
segment is now comprised of the MC Mining, Mettiki and Tunnel Ridge mines. Results for
the Pontiki mine, which ceased operations in November 2013, are now reflected in the
other and corporate segment.
(4) Total includes White Oak, other, corporate and eliminations.


ARLP’s coal shipments were negatively affected by weather-related
transportation disruptions during the 2014 Quarter, as total tons sold
declined to 9.5 million tons or approximately 2.1% lower than the 2013
Quarter. These disruptions particularly impacted the Warrior, Gibson North and
Pattiki mines in the Illinois Basin, contributing to lower coal sales volumes
in the 2014 Quarter compared to both the 2013 and Sequential Quarters.
Increased coal sales volumes from the Tunnel Ridge longwall operation drove
sales tons for the 2014 Quarter higher in Appalachia, compared to both the
2013 and Sequential Quarters. Shipment delays also pushed total coal inventory
higher to approximately 1.1 million tons, an increase of approximately 759,000
during the 2014 Quarter.

As anticipated, for the 2014 Quarter, ARLP's total coal sales price of $55.35
per ton sold increased slightly compared to both the 2013 and Sequential
Quarters. Sequentially, coal sales prices in Appalachia benefited from higher
contract pricing at the Mettiki mine.

Total Segment Adjusted EBITDA Expense per ton in the 2014 Quarter decreased
5.8% and 6.5% compared to the 2013 and Sequential Quarters, respectively. In
the Illinois Basin, Segment Adjusted EBITDA Expense per ton improved in the
2014 Quarter compared to the Sequential Quarter primarily due to additional
production days reflecting seasonal differences, higher production at the
River View mine, improved geological conditions at the Dotiki mine and lower
employee benefits expense across all mines in the region. Compared to both the
2013 and Sequential Quarters, Segment Adjusted EBITDA Expense per ton in
Appalachia benefited from improved productivity and geological conditions from
the Tunnel Ridge mine. Costs in Appalachia also benefited during the 2014
Quarter from reduced contract mining expenses at the Mettiki mine and
increased production in the new Excel No. 4 mining area at the MC Mining
operation compared to the 2013 Quarter.

Guidance Outlook

Commenting on ARLP’s current outlook for the rest of the year, Mr. Craft said,
"Based on the increased productivity experienced at Tunnel Ridge mine during
the first quarter, we are now expecting 2014 full-year production from the
mine of approximately 6.0 million tons. In addition, as a result of the early
start-up of our Gibson South mine, we are expecting this new operation to
produce approximately 700,000 tons this year. Increased coal volume
expectations and additional sales commitments made during the first quarter
gave us the confidence to increase 2014 full-year guidance as discussed
below."

Based on results to date and current estimates, ARLP is now anticipating coal
production and sales volumes during 2014 in a range of 40.25 to 41.00 million
tons. Adding approximately 7.8 million tons of new coal sales commitments
during the 2014 Quarter, ARLP has now committed and priced approximately 95%
of its anticipated coal sales in 2014. ARLP has also secured coal sales and
price commitments for approximately 29.0 million tons, 23.1 million tons and
9.4 million tons in 2015, 2016 and 2017, respectively.

ARLP is increasing its estimated ranges for 2014 revenues, excluding
transportation revenues, to $2.25 to $2.34 billion, EBITDA to $720.0 to $780.0
million, and net income to $400.0 to $460.0 million. (For a definition of
EBITDA and related reconciliation to the most comparable GAAP financial
measure, please see the end of this release.)

ARLP also continues to anticipate total capital expenditures during 2014 in a
range of $320.0 to $350.0 million, which includes expenditures for mine
expansion to complete development of our new Gibson South mine, infrastructure
projects, maintenance capital, and reserve acquisitions related to the White
Oak mine development project. In addition to these capital expenditures, ARLP
continues to anticipate funding approximately $80.0 to $95.0 million of its
preferred equity investment commitment to White Oak in 2014.

A conference call regarding ARLP’s 2014 Quarter financial results is scheduled
for today at 10:00 a.m. Eastern. To participate in the conference call, dial
(866) 515-2908 and provide pass code 49236626. International callers should
dial (617) 399-5122 and provide the same pass code. Investors may also listen
to the call via the "investor information" section of ARLP’s website at
http://www.arlp.com.

An audio replay of the conference call will be available for approximately one
week. To access the audio replay, dial (888) 286-8010 and provide pass code
47869959. International callers should dial (617) 801-6888 and provide the
same pass code.

This announcement is intended to be a qualified notice under Treasury
Regulation Section 1.1446-4(b), with 100% of the partnership’s distributions
to foreign investors attributable to income that is effectively connected with
a United States trade or business. Accordingly, ARLP’s distributions to
foreign investors are subject to federal income tax withholding at the highest
applicable tax rate.

About Alliance Resource Partners, L.P.

ARLP is a diversified producer and marketer of coal to major United States
utilities and industrial users. ARLP, the nation’s first publicly traded
master limited partnership involved in the production and marketing of coal,
is currently the third largest coal producer in the eastern United States with
mining operations in the Illinois Basin and Appalachian coal producing
regions. ARLP operates ten mining complexes in Illinois, Indiana, Kentucky,
Maryland and West Virginia. ARLP is also constructing a new mine in southern
Indiana and is purchasing and funding development of reserves, operating
surface facilities and making equity investments in a new mining complex under
development in southern Illinois. In addition, ARLP operates a coal loading
terminal on the Ohio River at Mount Vernon, Indiana.

News, unit prices and additional information about ARLP, including filings
with the Securities and Exchange Commission, are available at
http://www.arlp.com. For more information, contact the investor relations
department of ARLP at (918) 295-7674 or via e-mail at
investorrelations@arlp.com.

The statements and projections used throughout this release are based on
current expectations. These statements and projections are forward-looking,
and actual results may differ materially. These projections do not include the
potential impact of any mergers, acquisitions or other business combinations
that may occur after the date of this release. At the end of this release, we
have included more information regarding business risks that could affect our
results.

FORWARD-LOOKING STATEMENTS: With the exception of historical matters, any
matters discussed in this press release are forward-looking statements that
involve risks and uncertainties that could cause actual results to differ
materially from projected results. These risks, uncertainties and
contingencies include, but are not limited to, the following: changes in
competition in coal markets and our ability to respond to such changes;
changes in coal prices, which could affect our operating results and cash
flows; risks associated with the expansion of our operations and properties;
legislation, regulations, and court decisions and interpretations thereof,
including those relating to the environment, mining, miner health and safety
and health care; deregulation of the electric utility industry or the effects
of any adverse change in the coal industry, electric utility industry, or
general economic conditions; dependence on significant customer contracts,
including renewing customer contracts upon expiration of existing contracts;
changing global economic conditions or in industries in which our customers
operate; liquidity constraints, including those resulting from any future
unavailability of financing; customer bankruptcies, cancellations or breaches
to existing contracts, or other failures to perform; customer delays, failure
to take coal under contracts or defaults in making payments; adjustments made
in price, volume or terms to existing coal supply agreements; fluctuations in
coal demand, prices and availability; our productivity levels and margins
earned on our coal sales; changes in raw material costs; changes in the
availability of skilled labor; our ability to maintain satisfactory relations
with our employees; increases in labor costs, adverse changes in work rules,
or cash payments or projections associated with post-mine reclamation and
workers′ compensation claims; increases in transportation costs and risk of
transportation delays or interruptions; operational interruptions due to
geologic, permitting, labor, weather-related or other factors; risks
associated with major mine-related accidents, such as mine fires, or
interruptions; results of litigation, including claims not yet asserted;
difficulty maintaining our surety bonds for mine reclamation as well as
workers′ compensation and black lung benefits; difficulty in making accurate
assumptions and projections regarding pension, black lung benefits and other
post-retirement benefit liabilities; the coal industry’s share of electricity
generation, including as a result of environmental concerns related to coal
mining and combustion and the cost and perceived benefits of other sources of
electricity, such as natural gas, nuclear energy and renewable fuels;
uncertainties in estimating and replacing our coal reserves; a loss or
reduction of benefits from certain tax deductions and credits; difficulty
obtaining commercial property insurance, and risks associated with our
participation (excluding any applicable deductible) in the commercial
insurance property program; and difficulty in making accurate assumptions and
projections regarding future revenues and costs associated with equity
investments in companies we do not control.

Additional information concerning these and other factors can be found in
ARLP’s public periodic filings with the Securities and Exchange Commission
("SEC"), including ARLP’s Annual Report on Form 10-K for the year ended
December 31, 2013, filed on February 28, 2014 with the SEC. Except as required
by applicable securities laws, ARLP does not intend to update its
forward-looking statements.

                                            
ALLIANCE RESOURCE PARTNERS, L.P. AND SUBSIDIARIES



CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND OPERATING DATA

(In thousands, except unit and per unit data)

(Unaudited)
                                               
                                               Three Months Ended

                                               March 31,
                                                2014          2013       
                                                                
Tons Sold                                        9,495            9,698
Tons Produced                                    10,253           9,819
                                                                
SALES AND OPERATING REVENUES:
Coal sales                                     $ 525,545        $ 534,509
Transportation revenues                          6,005            6,934
Other sales and operating revenues              10,488         6,612      
Total revenues                                  542,038        548,055    
                                                                
EXPENSES:
Operating expenses (excluding                    322,242          348,575
depreciation, depletion and amortization)
Transportation expenses                          6,005            6,934
Outside coal purchases                           2                602
General and administrative                       17,435           15,246
Depreciation, depletion and amortization        66,841         64,382     
Total operating expenses                        412,525        435,739    
                                                                
INCOME FROM OPERATIONS                           129,513          112,316
                                                                
Interest expense, net                            (8,063     )     (6,618     )
Interest income                                  389              134
Equity in loss of affiliates, net                (6,241     )     (3,867     )
Other income                                    306            274        
INCOME BEFORE INCOME TAXES                       115,904          102,239
                                                                
INCOME TAX BENEFIT                              -              (698       )
                                                                
NET INCOME                                     $ 115,904       $ 102,937    
                                                                
GENERAL PARTNERS’ INTEREST IN NET INCOME       $ 33,368        $ 29,770     
                                                                
LIMITED PARTNERS’ INTEREST IN NET INCOME       $ 82,536        $ 73,167     
                                                                
BASIC AND DILUTED NET INCOME PER LIMITED       $ 2.20          $ 1.95       
PARTNER UNIT
                                                                
DISTRIBUTIONS PAID PER LIMITED PARTNER         $ 1.1975        $ 1.1075     
UNIT
                                                                
WEIGHTED AVERAGE NUMBER OF UNITS                36,997,433     36,919,002 
OUTSTANDING – BASIC AND DILUTED
                                                                
PRO FORMA NET INCOME PER LIMITED PARTNER
UNIT

ASSUMING TWO-FOR-ONE UNIT SPLIT ON JUNE
16, 2014:
                                                                
PRO FORMA BASIC AND DILUTED NET INCOME PER     $ 1.10          $ 0.98       
LIMITED PARTNER UNIT

                                                            
ALLIANCE RESOURCE PARTNERS, L.P. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except unit data)

(Unaudited)
                                                                
ASSETS                                         March 31,        December 31,
                                                2014           2013       
CURRENT ASSETS:
Cash and cash equivalents                      $ 14,396         $ 93,654
Trade receivables                                199,554          153,662
Other receivables                                294              776
Due from affiliates                              2,497            1,964
Inventories                                      68,751           44,214
Advance royalties                                11,454           11,454
Prepaid expenses and other assets               9,954          16,186     
Total current assets                             306,900          321,910
                                                                
PROPERTY, PLANT AND EQUIPMENT:
Property, plant and equipment, at cost           2,681,406        2,645,872
Less accumulated depreciation, depletion        (1,062,256 )    (1,031,493 )
and amortization
Total property, plant and equipment, net         1,619,150        1,614,379
                                                                
OTHER ASSETS:
Advance royalties                                20,741           18,813
Due from affiliate                               11,458           11,560
Equity investments in affiliates                 154,029          130,410
Other long-term assets                          23,680         24,826     
Total other assets                              209,908        185,609    
TOTAL ASSETS                                   $ 2,135,958     $ 2,121,898  
                                                                
LIABILITIES AND PARTNERS' CAPITAL
                                                                
CURRENT LIABILITIES:
Accounts payable                               $ 83,860         $ 79,371
Due to affiliates                                202              290
Accrued taxes other than income taxes            25,060           19,061
Accrued payroll and related expenses             43,116           47,105
Accrued interest                                 6,302            996
Workers’ compensation and pneumoconiosis         9,237            9,065
benefits
Current capital lease obligations                1,307            1,288
Other current liabilities                        17,130           18,625
Current maturities, long-term debt              43,000         36,750     
Total current liabilities                        229,214          212,551
                                                                
LONG-TERM LIABILITIES:
Long-term debt, excluding current                790,000          831,250
maturities
Pneumoconiosis benefits                          49,698           48,455
Accrued pension benefit                          17,544           18,182
Workers’ compensation                            54,857           54,949
Asset retirement obligations                     81,324           80,807
Long-term capital lease obligations              16,758           17,135
Other liabilities                               6,407          7,332      
Total long-term liabilities                     1,016,588      1,058,110  
Total liabilities                               1,245,802      1,270,661  
                                                                
COMMITMENTS AND CONTINGENCIES
                                                                
PARTNERS' CAPITAL:
Limited Partners - Common Unitholders
37,030,317 and 36,963,054 units                  1,165,621        1,128,519
outstanding, respectively
General Partners' deficit                        (265,708   )     (267,563   )
Accumulated other comprehensive loss            (9,757     )    (9,719     )
Total Partners' Capital                         890,156        851,237    
TOTAL LIABILITIES AND PARTNERS' CAPITAL        $ 2,135,958     $ 2,121,898  

                                                
ALLIANCE RESOURCE PARTNERS, L.P. AND SUBSIDIARIES



CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

(Unaudited)
                                                   
                                                   Three Months Ended

                                                   March 31,
                                                    2014        2013     
                                                                  
CASH FLOWS PROVIDED BY OPERATING ACTIVITIES        $ 140,099     $ 199,478  
                                                                  
CASH FLOWS FROM INVESTING ACTIVITIES:
Property, plant and equipment:
Capital expenditures                                 (69,463  )     (70,306  )
Changes in accounts payable and accrued              (3,745   )     (7,608   )
liabilities
Proceeds from sale of property, plant and          ―                9
equipment
Purchases of equity investments in affiliate         (30,000  )     (29,700  )
Payments to affiliate for acquisition and            (1,401   )     (12,064  )
development of coal reserves
Advances/loans to affiliate                        ―               (1,643   )
Net cash used in investing activities               (104,609 )    (121,312 )
                                                                  
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings under revolving credit facilities         82,800         45,000
Payments under revolving credit facilities           (117,800 )     (50,000  )
Payments on capital lease obligations                (358     )     (284     )
Net settlement of employee withholding taxes         (2,991   )     (3,015   )
on vesting of Long-Term Incentive Plan
Cash contributions by General Partners               111            114
Distributions paid to Partners                      (76,510  )    (69,587  )
Net cash used in financing activities               (114,748 )    (77,772  )
                                                                  
NET CHANGE IN CASH AND CASH EQUIVALENTS              (79,258  )     394
                                                                  
CASH AND CASH EQUIVALENTS AT BEGINNING OF            93,654         28,283
PERIOD
                                                                 
CASH AND CASH EQUIVALENTS AT END OF PERIOD         $ 14,396      $ 28,677   
                                                                             

Reconciliation of GAAP "Net Income" to non-GAAP "EBITDA" and non-GAAP
"Distributable Cash Flow" (in thousands).

EBITDA is defined as net income before net interest expense, income taxes and
depreciation, depletion and amortization. EBITDA is used as a supplemental
financial measure by our management and by external users of our financial
statements such as investors, commercial banks, research analysts and others,
to assess:

  *the financial performance of our assets without regard to financing
    methods, capital structure or historical cost basis;
  *the ability of our assets to generate cash sufficient to pay interest
    costs and support our indebtedness;
  *our operating performance and return on investment as compared to those of
    other companies in the coal energy sector, without regard to financing or
    capital structures; and
  *the viability of acquisitions and capital expenditure projects and the
    overall rates of return on alternative investment opportunities.

Distributable cash flow ("DCF") is defined as EBITDA excluding equity in loss
of affiliates, interest expense (before capitalized interest), interest
income, income taxes and estimated maintenance capital expenditures. DCF is
used as a supplemental financial measure by our management and by external
users of our financial statements, such as investors, commercial banks,
research analysts and others, to assess:

  *the cash flows generated by our assets (prior to the establishment of any
    retained cash reserves by the general partner) to fund the cash
    distributions we expect to pay to unitholders;
  *our success in providing a cash return on investment and whether or not
    the Partnership is generating cash flow at a level that can sustain or
    support an increase in its quarterly distribution rates;
  *the yield of our units, which is a quantitative standard used through the
    investment community with respect to publicly-traded partnerships as the
    value of a unit is generally determined by a unit’s yield (which in turn
    is based on the amount of cash distributions the entity pays to a
    unitholder).

EBITDA and DCF should not be considered as alternatives to net income, income
from operations, cash flows from operating activities or any other measure of
financial performance presented in accordance with generally accepted
accounting principles. EBITDA and DCF are not intended to represent cash flow
and do not represent the measure of cash available for distribution. Our
method of computing EBITDA and DCF may not be the same method used to compute
similar measures reported by other companies, or EBITDA and DCF may be
computed differently by us in different contexts (i.e. public reporting versus
computation under financing agreements).

                                                         
                                                Three           
                  Three Months Ended            Months
                                                Ended           Year Ended
                  March 31,
                                                December        December 31,
                                                31,
                   2014       2013          2013         2014E
                                                                Midpoint
                                                                             
Net income        $ 115,904     $ 102,937       $ 99,293        $ 430,000
Depreciation,
depletion and       66,841        64,382          66,223          287,000
amortization
Interest
expense,            8,446         9,015           8,414           34,395
gross
Capitalized         (772    )     (2,531  )       (772    )       (1,395   )
interest
Income tax
(benefit)          -           (698    )      2,703         -        
expense
EBITDA              190,419       173,105         175,861         750,000
Equity in
loss of             6,241         3,867           8,885           32,500
affiliates,
net
Interest
expense,            (8,446  )     (9,015  )       (8,414  )       (34,395  )
gross
Income tax
benefit             -             698             (2,703  )       -
(expense)
Estimated
maintenance
capital            (60,493 )    (55,968 )      (52,218 )      (239,688 )
expenditures
^(1)
Distributable     $ 127,721    $ 112,687      $ 121,411      $ 508,417  
Cash Flow

^(1) Our maintenance capital expenditures, as defined under the terms of our
partnership agreement, are those capital expenditures required to maintain,
over the long-term, the operating capacity of our capital assets. We estimate
maintenance capital expenditures on an annual basis based upon a five-year
planning horizon. For the 2014 planning horizon, average annual estimated
maintenance capital expenditures are assumed to be $5.90 per produced ton
compared to the estimated $5.70 per produced ton in 2013. Our actual
maintenance capital expenditures vary depending on various factors, including
maintenance schedules and timing of capital projects, among others. We
annually disclose our actual maintenance capital expenditures in our Form 10-K
filed with the Securities and Exchange Commission.

Reconciliation of GAAP "Operating Expenses" to non-GAAP "Segment Adjusted
EBITDA Expense per ton" and Reconciliation of non-GAAP "EBITDA" to "Segment
Adjusted EBITDA" (in thousands, except per ton data).

Segment Adjusted EBITDA Expense per ton includes operating expenses, outside
coal purchases and other income divided by tons sold. Transportation expenses
are excluded as these expenses are passed through to our customers and,
consequently, we do not realize any margin on transportation revenues. Segment
Adjusted EBITDA Expense is used as a supplemental financial measure by our
management to assess the operating performance of our segments. Segment
Adjusted EBITDA Expense is a key component of EBITDA in addition to coal sales
and other sales and operating revenues. The exclusion of corporate general and
administrative expenses from Segment Adjusted EBITDA Expense allows management
to focus solely on the evaluation of segment operating performance as it
primarily relates to our operating expenses. Outside coal purchases are
included in Segment Adjusted EBITDA Expense because tons sold and coal sales
include sales from outside coal purchases.

                            Three Months Ended            Three Months Ended
                                                     
                            March 31,                     December 31,
                             2014       2013             2013      
                                                                             
Operating expense           $ 322,242     $ 348,575       $    356,706
Outside coal purchases        2             602                2
Other (income) loss          (306    )    (274    )         (892      )
Segment Adjusted EBITDA     $ 321,938     $ 348,903       $    355,816
Expense
Divided by tons sold         9,495       9,698            9,816     
Segment Adjusted EBITDA     $ 33.91      $ 35.98        $    36.25     
Expense per ton
                                                                             

Segment Adjusted EBITDA is defined as net income before net interest expense,
income taxes, depreciation, depletion and amortization and general and
administrative expenses.

                                                     
                                Three Months Ended        Three Months Ended

                                March 31,                 December 31,
                                 2014      2013              2013
                                                                             
EBITDA (See reconciliation      $ 190,419   $ 173,105     $      175,861
to GAAP above)
General and administrative       17,435     15,246            16,961
Segment Adjusted EBITDA         $ 207,854   $ 188,351     $      192,822

Contact:

Alliance Resource Partners, L.P.
Brian L. Cantrell, 918-295-7673
 
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