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Summary Quarterly Financial Information
 12 Months Ended
Dec. 31, 2017
Quarterly Financial Data [Abstract]  
Summary Quarterly Financial Information (Unaudited)
Summary of Quarterly Financial Information (Unaudited)
A summary of the unaudited quarterly results of operations for the years ended December 31, 2017 and 2016 is presented below.
 
Year Ended December 31, 2017
 
Predecessor
Successor
 
First Quarter
 
April 1
April 2 through June 30
 
Third Quarter
 
Fourth Quarter
 
(In millions, except per share data)
Revenues
$
1,326.2

 
$
—

$
1,258.3

 
$
1,477.2

 
$
1,517.1

Operating profit
198.1

 
—

146.0

 
202.9

 
338.2

Income (loss) from continuing operations, net of income taxes
124.3

 
(319.8
)
101.4

 
233.7

 
378.0

Net income (loss)
120.2

 
(331.9
)
98.7

 
230.0

 
364.6

Net income (loss) attributable to common stockholders
115.4

 
(331.9
)
(20.2
)
 
201.4

 
317.4

Basic EPS — continuing operations (1)
$
6.46

 
$
(17.44
)
$
(0.18
)
 
$
1.51

 
$
2.50

Diluted EPS — continuing operations (1)
$
6.44

 
$
(17.44
)
$
(0.18
)
 
$
1.49

 
$
2.47

Weighted average shares used in calculating basic EPS
18.3

 
18.3

96.8

 
101.6

 
104.8

Weighted average shares used in calculating diluted EPS
18.4

 
18.3

96.8

 
103.1

 
106.5

(1) 
EPS for the quarters may not sum to the amounts for the year as each period is computed on a discrete basis.
Operating profit for the first quarter of 2017 included $30.5 million of asset impairment costs, related to terminated coal lease contracts in the Midwestern U.S. Operating profit for the fourth quarter of 2017 reflected $45.2 million of net mark-to-market gains on actuarially determined liabilities partially offset by $6.6 million of restructuring charges. The operating profit for the fourth quarter of 2017 also included net gain on disposals of $83.1 million, primarily driven by the sale of the Burton Mine and the extinguishment of a guarantee liability for reclamation and bonding commitments of $52.2 million and $31.2 million, respectively. Operating profit for the first, third and fourth quarters of 2017, as well as the period April 2 through June 30, 2017 included steady income from equity affiliates of $15.0 million, $10.5 million, $22.8 million, and $15.7 million, respectively, due to favorable coal pricing at Middlemount. Income from continuing operations, net of income taxes for the first quarter and April 1, 2017 reflected $41.4 million and $585.8 million, respectively, of reorganization items, net due to the Company’s emergence from the Chapter 11 Cases. Income from continuing operations, net of income taxes for the period April 2 through June 30, 2017 and the third quarter of 2017 reflected $41.4 million and $42.5 million, respectively, of interest expense, while the fourth quarter experienced a decrease in interest expense due to prepayments on the Senior Secured Term Loan, reducing interest payments. Income from continuing operations, net of income taxes for the third and fourth quarters of 2017 included a loss on debt extinguishment of $12.9 million and $8.0 million, respectively, resulting from the prepayments of the Senior Secured Term Loan.
 
Year Ended December 31, 2016
 
Predecessor
 
First Quarter
 
Second Quarter
 
Third Quarter
 
Fourth Quarter
 
(In millions, except per share data)
Revenues
$
1,027.2

 
$
1,040.2

 
$
1,207.1

 
$
1,440.8

Operating profit (loss)
(102.7
)
 
(107.7
)
 
(21.6
)
 
(44.9
)
Loss from continuing operations, net of income taxes
(167.7
)
 
(223.2
)
 
(97.7
)
 
(175.2
)
Net loss
(171.1
)
 
(226.2
)
 
(135.8
)
 
(188.3
)
Net loss attributable to common stockholders
(171.1
)
 
(227.9
)
 
(137.6
)
 
(192.7
)
Basic and diluted EPS — continuing operations (1)
$
(9.17
)
 
$
(12.30
)
 
$
(5.44
)
 
$
(9.82
)
Weighted average shares used in calculating basic and diluted EPS
18.3

 
18.3

 
18.3

 
18.3

(1) 
EPS for the quarters may not sum to the amounts for the year as each period is computed on a discrete basis.
Operating loss for the first quarter and second quarter of 2016 reflected $26.4 million and $10.3 million of debt restructuring costs, respectively. Operating loss for the first and fourth quarters of 2016 included $17.2 million and $230.7 million of asset impairment costs, respectively, primarily driven by the impairment of Metropolitan Mine to reflect estimated selling price. The operating loss for the second quarter of 2016 included net gain on disposals of $13.7 million, primarily driven by net gains on sale of the Olive Downs South tenements and participation interest in Prairie State Energy Campus of $2.8 million and $6.2 million, respectively. Operating loss for the fourth quarter of 2016 included income from equity affiliates of $28.8 million, due to favorable coal pricing at Middlemount. Loss from continuing operations, net of income taxes for the first quarter included $126.2 million of interest expense, while the following three quarters experienced significant decreases in interest expense due to the bankruptcy filing and stay of interest payments. Loss from continuing operations, net of income taxes for the second, third and fourth quarters of 2016 reflected $95.4 million, $29.7 million and $33.9 million of reorganization items, net due to the bankruptcy filing and ongoing Chapter 11 cases, respectively. Loss from continuing operations, net of income taxes for the fourth quarter of 2016 included a loss on debt extinguishment of $29.5 million resulting from the repayment of debtor-in-possession term loan. Loss from discontinued operations, net of income for the third and fourth quarters reflected $38.1 million and $13.1 million of Patriot bankruptcy related charges associated with black lung liabilities and the UMWA Combined Benefit fund, respectively.