Summary of Quarterly Financial Information (Unaudited)

A summary of the unaudited quarterly results of operations for the years ended December 31, 2018 and 2017 is presented below.



	Year Ended December 31, 2018
	Successor
	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
	(In millions, except per share data)
Revenues	$	1,462.7	$	1,309.4	$	1,412.6	$	1,397.1
Operating profit	239.2		165.3		130.3		126.8
Income from continuing operations, net of income taxes	208.3		120.0		83.9		233.5
Net income	207.0		116.4		79.8		260.6
Net income attributable to common stockholders	106.6		113.7		71.5		252.6
Basic EPS — continuing operations ⁽¹⁾	$	0.84	$	0.94	$	0.64	$	1.99
Diluted EPS — continuing operations ⁽¹⁾	$	0.83	$	0.93	$	0.63	$	1.97
Weighted average shares used in calculating basic EPS	120.9		124.5		118.6		113.1
Weighted average shares used in calculating diluted EPS	123.2		126.0		120.3		114.7


⁽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 and third quarter of 2018 reflected $30.6 million and $20.7 million of gains on disposal of assets, respectively, primarily driven by net gains on the sale of certain surplus land assets in Queensland’s Bowen Basin and the sale of surplus coal resources associated with the Company’s Millennium Mine of $20.6 million and $20.5 million, respectively. Operating profit for the third and fourth quarter of 2018 reflected $49.3 million and $17.1 million related to the provision for North Goonyella equipment loss, respectively. Operating profit for the first, second and third quarter of 2018 included steady income from equity affiliates of $22.0 million, $25.2 million and $17.2 million, respectively, due to favorable coal pricing at Middlemount. Operating profit for the fourth quarter of 2018 included acquisition costs related to the Shoal Creek Mine of $4.9 million. Income from continuing operations, net of income taxes for the first, second, third and fourth quarters of 2018 included steady interest expense of $36.3 million, $38.3 million, $38.2 million and $36.5 million respectively, partially offset by interest income of $7.2 million, $7.0 million, $10.1 million and $9.3 million in the first, second, third and fourth quarters of 2018, respectively. Income from continuing operations, net of income taxes for the first quarter of 2018 included a credit of $12.8 million for reorganization items, net due to a bankruptcy claims accrual adjustment in relation to the Company’s emergence from the Chapter 11 Cases. Income from continuing operations, net of income taxes for the fourth quarter of 2018 reflected $125.5 million of net mark-to-market gains on actuarially determined liabilities.



	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	212.5		—			152.6			209.5		301.7
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 included net gain on disposals of $83.1 million, primarily driven by the sale of the Burton Mine assets and the extinguishment of a guarantee liability for reclamation and bonding commitments of $52.2 million and $31.2 million, respectively, partially offset by $6.6 million of restructuring charges. 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. Income from continuing operations, net of income taxes for the fourth quarter of 2017 also reflected $45.2 million of net mark-to-market gains on actuarially determined liabilities.