XML 77 R53.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2018
Income Tax Disclosure [Abstract] |
Income (loss) from continuing operations before income taxes | Income (loss) from continuing operations before income taxes for the periods presented below consisted of the following:
| Successor | Predecessor
| Year Ended December 31, 2018 |  | April 2 through December 31, 2017 | January 1 through April 1, 2017 |  | Year Ended December 31, 2016
| (Dollars in millions)
U.S. | $ | (43.4 | ) |  | $ | 10.4 |  | $ | 2,408.7 |  |  | $ | (49.7 | )
Non-U.S. | 707.5 |  |  | 541.7 |  | (2,868.0 | ) |  | (708.6 | )
Total | $ | 664.1 |  |  | $ | 552.1 |  | $ | (459.3 | ) |  | $ | (758.3 | )
Components of income tax provision (benefit) | Total income tax provision (benefit) for the periods presented below consisted of the following:
| Successor | Predecessor
| Year Ended December 31, 2018 |  | April 2 through December 31, 2017 | January 1 through April 1, 2017 |  | Year Ended December 31, 2016
| (Dollars in millions)
Current: |  |  |  |  |  |  |  |
U.S. federal | $ | (46.8 | ) |  | $ | (101.4 | ) | $ | (3.1 | ) |  | $ | (12.4 | )
Non-U.S. | 29.8 |  |  | 40.4 |  | 8.3 |  |  | 14.4 |
State | (0.1 | ) |  | (0.4 | ) | (6.7 | ) |  | 0.5 |
Total current | (17.1 | ) |  | (61.4 | ) | (1.5 | ) |  | 2.5 |
Deferred: |  |  |  |  |  |  |  |  |
U.S. federal | 30.4 |  |  | (85.1 | ) | (101.0 | ) |  | (82.1 | )
Non-U.S. | 5.7 |  |  | (14.5 | ) | (160.4 | ) |  | (12.8 | )
State | (0.6 | ) |  | — |  | (0.9 | ) |  | (2.1 | )
Total deferred | 35.5 |  |  | (99.6 | ) | (262.3 | ) |  | (97.0 | )
Total income tax provision (benefit) | $ | 18.4 |  |  | $ | (161.0 | ) | $ | (263.8 | ) |  | $ | (94.5 | )
Reconciliation of the expected statutory federal income tax provision (benefit) to the Company's actual income tax provision | The following is a reconciliation of the expected statutory federal income tax expense (benefit) to the Company’s income tax provision (benefit) for the periods presented below:
| Successor | Predecessor
| Year Ended December 31, 2018 |  | April 2 through December 31, 2017 | January 1 through April 1, 2017 |  | Year Ended December 31, 2016
| (Dollars in millions)
Expected income tax expense (benefit) at U.S. federal statutory rate | $ | 139.5 |  |  | $ | 193.2 |  | $ | (160.8 | ) |  | $ | (265.4 | )
Changes in valuation allowance, income tax | (284.6 | ) |  | (744.9 | ) | (777.2 | ) |  | 2,453.9 |
Remeasurement due to the Tax Cuts and Jobs Act | 9.5 |  |  | 473.5 |  | — |  |  | — |
Reorganization costs | — |  |  | — |  | 2,130.0 |  |  | 29.6 |
Bad debt deduction | — |  |  | — |  | (1,639.6 | ) |  | — |
Worthless partnership | — |  |  | — |  | — |  |  | (2,204.4 | )
Changes in tax reserves | 2.1 |  |  | 7.2 |  | (9.2 | ) |  | 2.3 |
Excess depletion | (28.5 | ) |  | (40.4 | ) | (11.2 | ) |  | (37.2 | )
Foreign earnings provision differential | 97.1 |  |  | (26.3 | ) | 158.2 |  |  | 27.5 |
Global intangible low-taxed income | 68.2 |  |  | — |  | — |  |  | — |
Remeasurement of foreign income tax accounts | (0.2 | ) |  | (0.3 | ) | 9.4 |  |  | (2.0 | )
State income taxes, net of federal tax benefit | 3.2 |  |  | (3.1 | ) | 40.6 |  |  | (90.2 | )
Other, net | 12.1 |  |  | (19.9 | ) | (4.0 | ) |  | (8.6 | )
Total income tax provision (benefit) | $ | 18.4 |  |  | $ | (161.0 | ) | $ | (263.8 | ) |  | $ | (94.5 | )
Tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities | The tax effects of temporary differences that gave rise to significant portions of the deferred tax assets and liabilities as of December 31, 2018 and 2017 consisted of the following:
| December 31, 2018 |  | December 31, 2017
| (Dollars in millions)
Deferred tax assets: |  |  |  |  |
Tax loss carryforwards and credits | $ | 1,729.3 |  |  | $ | 2,068.0 |
Property, plant, equipment and mine development, principally due to differences in depreciation, depletion and asset impairments | 304.5 |  |  | 463.8 |
Accrued postretirement benefit obligations | 139.5 |  |  | 194.2 |
Asset retirement obligations | 47.2 |  |  | 30.6 |
Employee benefits | 24.8 |  |  | 25.3 |
Take or pay obligations | 17.1 |  |  | 27.2 |
Investments and other assets | 82.7 |  |  | 137.2 |
Workers’ compensation obligations | 6.2 |  |  | 6.4 |
Other | 38.2 |  |  | 28.6 |
Total gross deferred tax assets | 2,389.5 |  |  | 2,981.3 |
Valuation allowance, income tax | (2,094.3 | ) |  | (2,432.5 | )
Total deferred tax assets | 295.2 |  |  | 548.8 |
Deferred tax liabilities: |  |  |  |  |
Property, plant, equipment and mine development, principally due to differences in depreciation, depletion and asset impairments | 203.4 |  |  | 353.3 |
Coal supply agreements | 9.3 |  |  | 29.6 |
Investments and other assets | 43.7 |  |  | 85.7 |
Total deferred tax liabilities | 256.4 |  |  | 468.6 |
Net deferred tax asset | $ | 38.8 |  |  | $ | 80.2 |
Deferred taxes are classified as follows: |  |  |  |  |
Noncurrent deferred income tax asset | $ | 48.5 |  |  | $ | 85.6 |
Noncurrent deferred income tax liability | (9.7 | ) |  | (5.4 | )
Net deferred tax asset | $ | 38.8 |  |  | $ | 80.2 |
Summary of Income Tax Contingencies [Table Text Block] | Net unrecognized tax benefits (excluding interest and penalties) were recorded as follows in the consolidated balance sheets as of December 31, 2018 and 2017:
| December 31, 2018 |  | December 31, 2017
| (Dollars in millions)
Deferred income taxes | $ | 13.0 |  |  | $ | 10.9 |
Other noncurrent liabilities | 1.0 |  |  | 1.8 |
Net unrecognized tax benefits | $ | 14.0 |  |  | $ | 12.7 |
Gross unrecognized tax benefits | $ | 14.0 |  |  | $ | 12.7 |
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | A reconciliation of the beginning and ending amount of gross unrecognized tax benefits for the periods presented below is as follows:
| Successor | Predecessor
| Year Ended December 31, 2018 |  | April 2 through December 31, 2017 | January 1 through April 1, 2017 |  | Year Ended December 31, 2016
| (Dollars in millions)
Balance at beginning of period | $ | 12.7 |  |  | $ | 12.5 |  | $ | 20.1 |  |  | $ | 22.9 |
Additions for current year tax positions | 1.8 |  |  | 0.8 |  | — |  |  | 1.5 |
Reductions for prior year tax positions | — |  |  | (0.5 | ) | (7.6 | ) |  | (2.8 | )
Reductions for settlements with tax authorities | (0.5 | ) |  | (0.1 | ) | — |  |  | (1.5 | )
Balance at end of period | $ | 14.0 |  |  | $ | 12.7 |  | $ | 12.5 |  |  | $ | 20.1 |
Summary of Companys tax (refunds) payments | The following table summarizes the Company’s income tax (refunds) payments, net for the periods presented below:
| Successor | Predecessor
| Year Ended December 31, 2018 |  | April 2 through December 31, 2017 | January 1 through April 1, 2017 |  | Year Ended December 31, 2016
| (Dollars in millions)
U.S. — federal | $ | (103.1 | ) |  | $ | (11.2 | ) | $ | — |  |  | $ | (56.5 | )
U.S. — state and local | (1.6 | ) |  | — |  | — |  |  | 1.4 |
Non-U.S. | 40.7 |  |  | 10.4 |  | 5.5 |  |  | 15.0 |
Total income tax (refunds) payments, net | $ | (64.0 | ) |  | $ | (0.8 | ) | $ | 5.5 |  |  | $ | (40.1 | )

X
- Definition Summary of Company's tax payments. + References No definition available. + Details
Name: | btu_SummaryOfCompanysTaxPaymentsTextBlock
Namespace Prefix: | btu_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

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

X
- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)(1)(i)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 + Details
Name: | us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in unrecognized tax benefits. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 55 -Paragraph 217 -URI http://asc.fasb.org/extlink&oid=96868398&loc=d3e36027-109320 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI http://asc.fasb.org/extlink&oid=84230637&loc=SL6600010-109319 + Details
Name: | us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI http://asc.fasb.org/extlink&oid=84230637&loc=SL6600010-109319 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32718-109319 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 19 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32840-109319 + Details
Name: | us-gaap_SummaryOfIncomeTaxContingenciesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration