XML 35 R14.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Investments Investments (Notes) | 12 Months Ended
--- | ---
Dec. 31, 2017
Investments, Debt and Equity Securities [Abstract] |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Investments Equity Method Investments The Company’s equity method investments include its joint venture interest in Middlemount in addition to certain other equity method investments. The table below summarizes the book value of those investments and related financing receivables, which are reported in “Investments and other assets” in the consolidated balance sheets, and the related “(Income) loss from equity affiliates”:
| Successor | Predecessor |  | Successor | Predecessor
| Book Value at |  | (Income) Loss from Equity Affiliates
| December 31, 2017 | December 31, 2016 |  | April 2 through December 31, 2017 | January 1 through April 1, 2017 |  | Year Ended December 31, 2016 |  | Year Ended December 31, 2015
| (Dollars in millions)
Equity method investment and financing receivables related to Middlemount | $ | 82.1 |  | $ | 84.8 |  |  | $ | (48.6 | ) | $ | (17.4 | ) |  | $ | (22.6 | ) |  | $ | 7.0 |
Other equity method investments | 1.7 |  | 0.5 |  |  | (0.4 | ) | 2.4 |  |  | 6.4 |  |  | 8.9 |
Total equity method investments and financing receivables related to Middlemount | $ | 83.8 |  | $ | 85.3 |  |  | $ | (49.0 | ) | $ | (15.0 | ) |  | $ | (16.2 | ) |  | $ | 15.9 |
As noted in Note 2. “Emergence from the Chapter 11 Cases and Fresh Start Reporting,” the carrying value of the equity method investments and financing receivables related to Middlemount was adjusted to fair value in connection with fresh start reporting based on the net present value of future cash flows associated with the Company’s 50% equity interest in Middlemount. As of December 31, 2017, the financing receivables are accounted for as in-substance common stock due to the limited fair value attributed to Middlemount’s equity. From time to time, the Company makes loans to Middlemount pursuant to the related stockholders’ agreement for purposes of funding capital expenditures and working capital requirements. The Priority Loans (the amount loaned by the Company in excess of the amount loaned by the other stockholder) bear interest at a rate equal to the monthly average 30-day Australian Bank Bill Swap Reference Rate plus 3.50%. The Company received loan repayments and other cash payments from Middlemount of approximately $48 million during the Successor period April 2 through December 31, 2017 and approximately $31 million and $41 million during the Predecessor period January 1 through April 1, 2017 and the year ended December 31, 2016, respectively. One of the Company’s Australian subsidiaries and the other stockholder of Middlemount are parties to an agreement, as amended from time to time, to provide a revolving loan (Revolving Loans) to Middlemount not to exceed $50.0 million Australian dollars (Revolving Loan Limit). The Company’s participation in the Revolving Loans will not, at any time, exceed its 50% equity interest of the Revolving Loan Limit. The Revolving Loans bear interest at 15% per annum and expire on December 31, 2018. As of December 31, 2017 and 2016, the carrying values of the Revolving Loans due to the Company’s Australian subsidiary were zero. During the Successor period April 2 through December 31, 2017, and the Predecessor periods of January 1 through April 1, 2017, and the years ended December 31, 2016 and 2015, Middlemount generated revenues of approximately $193 million, $60 million, $183 million and $160 million (on a 50% basis). During the year ended December 31, 2015, due to sustained weakness in seaborne metallurgical coal prices that had persisted longer than the Company had previously anticipated, a history of operating losses at the mine and the magnitude of the difference between the estimated fair value and the carrying value of its equity investment, the Company determined the carrying value of its equity investment in Middlemount to be other-than-temporarily impaired. Correspondingly, the Company recorded an impairment charge of $46.6 million to write down the carrying value of its equity investment. The Company determined its Subordinated Loans to Middlemount were also fully impaired resulting in an additional impairment charge of $229.9 million. A total impairment charge related to Middlemount of $276.5 million was reflected in “Asset impairment” in the consolidated statement of operations for the year ended December 31, 2015. Refer to Note 3. “Asset Impairment” for additional background surrounding the impairment charge recognized in 2015. Middlemount had current assets, noncurrent assets, current liabilities and noncurrent liabilities of $61.7 million, $232.2 million, $313.9 million and $41.2 million, respectively, as of December 31, 2017 and $47.3 million, $263.4 million, $363.5 million and $50.3 million, respectively, as of December 31, 2016 (on a 50% basis).

X
- References No definition available. + Details
Name: | us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=4738149 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 940 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2176304 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2324412 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2209399 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 954 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2289146 + Details
Name: | us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration