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Coal Trading (Tables)
 6 Months Ended
Jun. 30, 2017
Coal Trading [Abstract]  
Trading revenues by type of instrument
Trading revenues recognized 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 were as follows:
 
 
Successor
Predecessor
 
Successor
Predecessor
Trading Revenues by Type of Instrument
 
April 2 through June 30, 2017
Three Months Ended June 30, 2016
 
April 2 through June 30, 2017
January 1 through April 1, 2017
Six Months Ended June 30, 2016
 
 
(Dollars in millions)
Futures, swaps and options
 
$
(7.3
)
$
(19.3
)
 
$
(7.3
)
$
(10.2
)
$
(23.1
)
Physical purchase/sale contracts
 
12.5

36.8

 
12.5

25.2

36.9

Total trading revenues
 
$
5.2

$
17.5

 
$
5.2

$
15.0

$
13.8
Fair value of assets and liabilities from coal trading activities and related balance sheet offsetting disclosures
The fair value of assets and liabilities from coal trading activities presented on a gross and net basis as of June 30, 2017 and December 31, 2016 is set forth below:
Affected Line Item in the Condensed Consolidated Balance Sheets
 
Gross Amounts of Recognized Assets (Liabilities)
 
Gross Amounts Offset in the Condensed Consolidated Balance Sheets
 
Variation Margin Posted (1)
 
Net Amounts of Assets (Liabilities) Presented in the Condensed Consolidated Balance Sheets
 
 
(Dollars in millions)
 
 
Successor
 
 
Fair Value as of June 30, 2017
Assets from coal trading activities, net
 
$
145.5

 
$
(144.9
)
 
$
—

 
$
0.6

Liabilities from coal trading activities, net
 
(162.1
)
 
144.9

 
16.0

 
(1.2
)
Total, net
 
$
(16.6
)
 
$
—

 
$
16.0

 
$
(0.6
)
 
 
 
 
 
 
 
 
 
 
 
Predecessor
 
 
Fair Value as of December 31, 2016
Assets from coal trading activities, net
 
$
191.2

 
$
(190.5
)
 
$
—

 
$
0.7

Liabilities from coal trading activities, net
 
(249.1
)
 
190.5

 
57.4

 
(1.2
)
Total, net
 
$
(57.9
)
 
$
—

 
$
57.4

 
$
(0.5
)
(1) 
None of the net variation margin posted at June 30, 2017 and December 31, 2016, respectively, related to cash flow hedges.
Fair value coal trading net assets (liabilities) measured on recurring basis
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
)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation
The following table summarizes the changes in the Company’s recurring Level 3 net financial assets:
 
Successor
Predecessor
 
Successor
Predecessor
 
April 2 through June 30, 2017
Three Months Ended June 30, 2016
 
April 2 through June 30, 2017
January 1 through April 1, 2017
Six Months Ended June 30, 2016
 
(Dollars in millions)
Beginning of period
$
(0.7
)
$
(3.9
)
 
$
(0.7
)
$
(1.1
)
$
(15.6
)
Transfers into Level 3
—

0.4

 
—

—

0.4

Transfers out of Level 3
0.7

—

 
0.7

0.2

10.7

Total gains realized/unrealized:
 

 
 
 

 
 
Included in earnings
—

(1.3
)
 
—

0.2

(1.4
)
Sales
—

—

 
—

—

(0.1
)
Settlements
—

3.7

 
—

—

4.9

End of period
$
—

$
(1.1
)
 
$
—

$
(0.7
)
$
(1.1
)
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings
The following table summarizes the changes in net unrealized (losses) gains relating to Level 3 net financial assets held both as of the beginning and the end of the period:
 
Successor
Predecessor
 
Successor
Predecessor
 
April 2 through June 30, 2017
Three Months Ended June 30, 2016
 
April 2 through June 30, 2017
January 1 through April 1, 2017
Six Months Ended June 30, 2016
 
(Dollars in millions)
Changes in unrealized (losses) gains (1)
$
—

$
(0.1
)
 
$
—

$
0.3

$
(0.2
)
(1) 
Within the unaudited condensed consolidated statements of operations and unaudited condensed consolidated statements of comprehensive income for the periods presented, unrealized gains and losses from Level 3 items are combined with unrealized gains and losses on positions classified in Level 1 or 2, as well as other positions that have been realized during the applicable periods.