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Derivatives and Fair Value Measurements (Tables) | 6 Months Ended
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Jun. 30, 2017
Fair Value Disclosures [Abstract] |
Classification and amounts of pre-tax gains and losses related to the Company's non coal-trading hedges | The tables below show the classification and amounts of pre-tax gains and losses related to the Company’s Corporate Hedging derivatives during the Successor period April 2 through June 30, 2017 and the Predecessor periods January 1 through April 1, 2017, and the three and six months ended June 30, 2016:
|  |  |  | Successor
|  |  |  | April 2 through June 30, 2017
Financial Instrument |  | Income Statement Classification of (Losses) Gains |  | Total gain recognized in income |  | Loss realized in income on derivatives |  | Unrealized gain recognized in income on non- designated derivatives
|  |  | (Dollars in millions)
Foreign currency option contracts |  | Operating costs and expenses |  | $ | 2.9 |  |  | $ | (0.3 | ) |  | $ | 3.2 |
Total |  |  |  | $ | 2.9 |  |  | $ | (0.3 | ) |  | $ | 3.2 |
|  |  |  | Predecessor
|  |  |  | Three Months Ended June 30, 2016
Financial Instrument |  | Income Statement Classification of (Losses) Gains |  | Total loss recognized in income |  | Loss reclassified from other comprehensive income into income (1) |  | (Loss) gain realized in income on derivatives |  | Unrealized gain (loss)recognized in income on non- designated derivatives
|  |  | (Dollars in millions)
Commodity swap contracts |  | Operating costs and expenses |  | $ | (18.6 | ) |  | $ | (22.2 | ) |  | $ | (1.8 | ) |  | $ | 5.4 |
Commodity swap contracts |  | Reorganization items, net |  | (38.8 | ) |  | — |  |  | (38.8 | ) |  |  |
Foreign currency forward contracts |  | Operating costs and expenses |  | (45.7 | ) |  | (40.2 | ) |  | 24.9 |  |  | (30.4 | )
Foreign currency forward contracts |  | Reorganization items, net |  | (36.4 | ) |  | — |  |  | (36.4 | ) |  |  |
Total |  |  |  | $ | (139.5 | ) |  | $ | (62.4 | ) |  | $ | (52.1 | ) |  | $ | (25.0 | )
(1) | Includes the reclassification from "Accumulated other comprehensive income (loss)" into earnings of $13.6 million and $9.0 million of previously unrecognized losses on foreign currency and fuel contracts, respectively, monetized in the first quarter of 2016.
|  |  |  | Predecessor
|  |  |  | January 1 through April 1, 2017
Financial Instrument |  | Income Statement Classification of (Losses) Gains |  | Total loss recognized in income |  | Loss reclassified from other comprehensive loss into income |  | (Loss) gain realized in income on derivatives |  | Unrealized gain (loss)recognized in income on non- designated derivatives
|  |  | (Dollars in millions)
Commodity swap contracts |  | Operating costs and expenses |  | $ | (11.0 | ) |  | $ | (11.0 | ) |  | $ | — |  |  | $ | — |
Foreign currency forward contracts |  | Operating costs and expenses |  | (16.6 | ) |  | (16.6 | ) |  | — |  |  | — |
Total |  |  |  | $ | (27.6 | ) |  | $ | (27.6 | ) |  | $ | — |  |  | $ | — |
|  |  |  | Predecessor
|  |  |  | Six Months Ended June 30, 2016
Financial Instrument |  | Income Statement Classification of (Losses) Gains |  | Total loss recognized in income |  | Loss reclassified from other comprehensive income into income (1) |  | (Loss) gain realized in income on derivatives |  | Unrealized gain (loss)recognized in income on non- designated derivatives
|  |  | (Dollars in millions)
Commodity swap contracts |  | Operating costs and expenses |  | $ | (58.9 | ) |  | $ | (47.0 | ) |  | $ | (11.9 | ) |  | $ | — |
Commodity swap contracts |  | Reorganization items, net |  | (38.8 | ) |  | — |  |  | (38.8 | ) |  |  |
Foreign currency forward contracts |  | Operating costs and expenses |  | (91.4 | ) |  | (94.1 | ) |  | 2.7 |  |  | — |
Foreign currency forward contracts |  | Reorganization items, net |  | (36.4 | ) |  | — |  |  | (36.4 | ) |  |  |
Total |  |  |  | $ | (225.5 | ) |  | $ | (141.1 | ) |  | $ | (84.4 | ) |  | $ | — |
(1) | Includes the reclassification from "Accumulated other comprehensive income (loss)" into earnings of $13.6 million and $9.0 million of previously unrecognized losses on foreign currency and fuel contracts, respectively, monetized in the first quarter of 2016.
Fair value measured on recurring basis of net financial assets and liabilities | The following tables set forth the hierarchy of the Company’s net financial liability positions for which fair value is measured on a recurring basis:
| Successor
| June 30, 2017
| Level 1 |  | Level 2 |  | Level 3 |  | Total
| (Dollars in millions)
Foreign currency contracts | $ | — |  |  | $ | 9.3 |  |  | $ | — |  |  | $ | 9.3 |
Total net financial liabilities | $ | — |  |  | $ | 9.3 |  |  | $ | — |  |  | $ | 9.3 |
The following tables set forth the hierarchy of the Company’s net financial asset (liability) coal trading positions for which fair value is measured on a recurring basis as of June 30, 2017 and December 31, 2016:
| Successor
| June 30, 2017
| Level 1 |  | Level 2 |  | Level 3 |  | Total
| (Dollars in millions)
Physical purchase/sale contracts | $ | — |  |  | $ | (0.6 | ) |  | $ | — |  |  | $ | (0.6 | )
Total net financial liabilities | $ | — |  |  | $ | (0.6 | ) |  | $ | — |  |  | $ | (0.6 | )
| Predecessor
| December 31, 2016
| Level 1 |  | Level 2 |  | Level 3 |  | Total
| (Dollars in millions)
Futures, swaps and options | $ | — |  |  | $ | (0.1 | ) |  | $ | — |  |  | $ | (0.1 | )
Physical purchase/sale contracts | — |  |  | 0.7 |  |  | (1.1 | ) |  | (0.4 | )
Total net financial assets (liabilities) | $ | — |  |  | $ | 0.6 |  |  | $ | (1.1 | ) |  | $ | (0.5 | )
Carrying amounts and estimated fair values of the Company's debt | The carrying amounts and estimated fair values of the Company’s long-term debt as of June 30, 2017 is summarized as follows:
| Successor
| June 30, 2017
| Carrying Amount |  | Estimated Fair Value
| (Dollars in millions)
Long-term debt | $ | 1,957.1 |  |  | $ | 2,009.9 |

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- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5624171-113959 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5618551-113959 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258 + Details
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