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Revenue Recognition | 6 Months Ended
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Jun. 30, 2019
Revenue Recognition [Abstract] |
Revenues [Text Block] | Revenue Recognition The Company accounts for revenue in accordance with ASC Topic 606, “Revenue from Contracts with Customers” (ASC 606), which the Company adopted on January 1, 2018, using the modified retrospective approach. Refer to Note 1. “Summary of Significant Accounting Policies” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018, for the Company’s policies regarding “Revenues” and “Accounts receivable, net.” Disaggregation of Revenues Revenue by product type and market is set forth in the following tables. With respect to its seaborne mining segments, the Company classifies as “Export” certain revenue from domestically-delivered coal under contracts in which the price is derived on a basis similar to export contracts.
| Three Months Ended June 30, 2019
| Seaborne Thermal Mining |  | Seaborne Metallurgical Mining |  | Powder River Basin Mining |  | Midwestern U.S. Mining |  | Western U.S. Mining |  | Corporate and Other (1) |  | Consolidated
| (Dollars in millions)
Thermal coal |  |  |  |  |  |  |  |  |  |  |  |  |
Domestic | $ | 37.7 |  |  | $ | — |  |  | $ | 282.5 |  |  | $ | 167.5 |  |  | $ | 130.7 |  |  | $ | — |  |  | $ | 618.4 |
Export | 182.2 |  |  | — |  |  | — |  |  | — |  |  | 4.3 |  |  | — |  |  | 186.5 |
Total thermal | 219.9 |  |  | — |  |  | 282.5 |  |  | 167.5 |  |  | 135.0 |  |  | — |  |  | 804.9 |
Metallurgical coal |  |  |  |  |  |  |  |  |  |  |  |  |
Export | — |  |  | 290.3 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 290.3 |
Total metallurgical | — |  |  | 290.3 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 290.3 |
Other | 0.3 |  |  | 0.6 |  |  | 0.1 |  |  | — |  |  | 7.1 |  |  | 45.7 |  |  | 53.8 |
Revenues | $ | 220.2 |  |  | $ | 290.9 |  |  | $ | 282.6 |  |  | $ | 167.5 |  |  | $ | 142.1 |  |  | $ | 45.7 |  |  | $ | 1,149.0 |
| Three Months Ended June 30, 2018
| Seaborne Thermal Mining |  | Seaborne Metallurgical Mining |  | Powder River Basin Mining |  | Midwestern U.S. Mining |  | Western U.S. Mining |  | Corporate and Other (1) |  | Consolidated
| (Dollars in millions)
Thermal coal |  |  |  |  |  |  |  |  |  |  |  |  |
Domestic | $ | 38.5 |  |  | $ | — |  |  | $ | 321.5 |  |  | $ | 196.9 |  |  | $ | 131.1 |  |  | $ | — |  |  | $ | 688.0 |
Export | 228.7 |  |  | — |  |  | — |  |  | 0.6 |  |  | 4.3 |  |  | — |  |  | 233.6 |
Total thermal | 267.2 |  |  | — |  |  | 321.5 |  |  | 197.5 |  |  | 135.4 |  |  | — |  |  | 921.6 |
Metallurgical coal |  |  |  |  |  |  |  |  |  |  |  |  |
Export | — |  |  | 417.2 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 417.2 |
Total metallurgical | — |  |  | 417.2 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 417.2 |
Other | 0.2 |  |  | 0.3 |  |  | — |  |  | — |  |  | 4.2 |  |  | (34.1 | ) |  | (29.4 | )
Revenues | $ | 267.4 |  |  | $ | 417.5 |  |  | $ | 321.5 |  |  | $ | 197.5 |  |  | $ | 139.6 |  |  | $ | (34.1 | ) |  | $ | 1,309.4 |
| Six Months Ended June 30, 2019
| Seaborne Thermal Mining |  | Seaborne Metallurgical Mining |  | Powder River Basin Mining |  | Midwestern U.S. Mining |  | Western U.S. Mining |  | Corporate and Other (1) |  | Consolidated
| (Dollars in millions)
Thermal coal |  |  |  |  |  |  |  |  |  |  |  |  |
Domestic | $ | 76.1 |  |  | $ | — |  |  | $ | 569.8 |  |  | $ | 346.5 |  |  | $ | 273.4 |  |  | $ | — |  |  | $ | 1,265.8 |
Export | 394.1 |  |  | — |  |  | — |  |  | — |  |  | 11.3 |  |  | — |  |  | 405.4 |
Total thermal | 470.2 |  |  | — |  |  | 569.8 |  |  | 346.5 |  |  | 284.7 |  |  | — |  |  | 1,671.2 |
Metallurgical coal |  |  |  |  |  |  |  |  |  |  |  |  |
Export | — |  |  | 614.0 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 614.0 |
Total metallurgical | — |  |  | 614.0 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 614.0 |
Other | 1.0 |  |  | 1.4 |  |  | 0.1 |  |  | 0.1 |  |  | 13.1 |  |  | 98.7 |  |  | 114.4 |
Revenues | $ | 471.2 |  |  | $ | 615.4 |  |  | $ | 569.9 |  |  | $ | 346.6 |  |  | $ | 297.8 |  |  | $ | 98.7 |  |  | $ | 2,399.6 |
| Six Months Ended June 30, 2018
| Seaborne Thermal Mining |  | Seaborne Metallurgical Mining |  | Powder River Basin Mining |  | Midwestern U.S. Mining |  | Western U.S. Mining |  | Corporate and Other (1) |  | Consolidated
| (Dollars in millions)
Thermal coal |  |  |  |  |  |  |  |  |  |  |  |  |
Domestic | $ | 74.6 |  |  | $ | — |  |  | $ | 710.7 |  |  | $ | 397.8 |  |  | $ | 261.4 |  |  | $ | — |  |  | $ | 1,444.5 |
Export | 393.6 |  |  | — |  |  | — |  |  | 1.3 |  |  | 12.3 |  |  | — |  |  | 407.2 |
Total thermal | 468.2 |  |  | — |  |  | 710.7 |  |  | 399.1 |  |  | 273.7 |  |  | — |  |  | 1,851.7 |
Metallurgical coal |  |  |  |  |  |  |  |  |  |  |  |  |
Export | — |  |  | 882.5 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 882.5 |
Total metallurgical | — |  |  | 882.5 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 882.5 |
Other | 0.6 |  |  | 1.2 |  |  | 0.1 |  |  | 0.1 |  |  | 9.6 |  |  | 26.3 |  |  | 37.9 |
Revenues | $ | 468.8 |  |  | $ | 883.7 |  |  | $ | 710.8 |  |  | $ | 399.2 |  |  | $ | 283.3 |  |  | $ | 26.3 |  |  | $ | 2,772.1 |
Revenue by contract duration was as follows:
| Three Months Ended June 30, 2019
| Seaborne Thermal Mining |  | Seaborne Metallurgical Mining |  | Powder River Basin Mining |  | Midwestern U.S. Mining |  | Western U.S. Mining |  | Corporate and Other (1) |  | Consolidated
| (Dollars in millions)
One year or longer | $ | 150.6 |  |  | $ | 242.7 |  |  | $ | 269.7 |  |  | $ | 158.2 |  |  | $ | 132.6 |  |  | $ | — |  |  | $ | 953.8 |
Less than one year | 69.3 |  |  | 47.6 |  |  | 12.8 |  |  | 9.3 |  |  | 2.4 |  |  | — |  |  | 141.4 |
Other (2) | 0.3 |  |  | 0.6 |  |  | 0.1 |  |  | — |  |  | 7.1 |  |  | 45.7 |  |  | 53.8 |
Revenues | $ | 220.2 |  |  | $ | 290.9 |  |  | $ | 282.6 |  |  | $ | 167.5 |  |  | $ | 142.1 |  |  | $ | 45.7 |  |  | $ | 1,149.0 |
| Three Months Ended June 30, 2018
| Seaborne Thermal Mining |  | Seaborne Metallurgical Mining |  | Powder River Basin Mining |  | Midwestern U.S. Mining |  | Western U.S. Mining |  | Corporate and Other (1) |  | Consolidated
| (Dollars in millions)
One year or longer | $ | 173.2 |  |  | $ | 255.1 |  |  | $ | 310.8 |  |  | $ | 194.1 |  |  | $ | 126.5 |  |  | $ | — |  |  | $ | 1,059.7 |
Less than one year | 94.0 |  |  | 162.1 |  |  | 10.7 |  |  | 3.4 |  |  | 8.9 |  |  | — |  |  | 279.1 |
Other (2) | 0.2 |  |  | 0.3 |  |  | — |  |  | — |  |  | 4.2 |  |  | (34.1 | ) |  | (29.4 | )
Revenues | $ | 267.4 |  |  | $ | 417.5 |  |  | $ | 321.5 |  |  | $ | 197.5 |  |  | $ | 139.6 |  |  | $ | (34.1 | ) |  | $ | 1,309.4 |
| Six Months Ended June 30, 2019
| Seaborne Thermal Mining |  | Seaborne Metallurgical Mining |  | Powder River Basin Mining |  | Midwestern U.S. Mining |  | Western U.S. Mining |  | Corporate and Other (1) |  | Consolidated
| (Dollars in millions)
One year or longer | $ | 321.7 |  |  | $ | 475.5 |  |  | $ | 549.8 |  |  | $ | 326.0 |  |  | $ | 278.6 |  |  | $ | — |  |  | $ | 1,951.6 |
Less than one year | 148.5 |  |  | 138.5 |  |  | 20.0 |  |  | 20.5 |  |  | 6.1 |  |  | — |  |  | 333.6 |
Other (2) | 1.0 |  |  | 1.4 |  |  | 0.1 |  |  | 0.1 |  |  | 13.1 |  |  | 98.7 |  |  | 114.4 |
Revenues | $ | 471.2 |  |  | $ | 615.4 |  |  | $ | 569.9 |  |  | $ | 346.6 |  |  | $ | 297.8 |  |  | $ | 98.7 |  |  | $ | 2,399.6 |
| Six Months Ended June 30, 2018
| Seaborne Thermal Mining |  | Seaborne Metallurgical Mining |  | Powder River Basin Mining |  | Midwestern U.S. Mining |  | Western U.S. Mining |  | Corporate and Other (1) |  | Consolidated
| (Dollars in millions)
One year or longer | $ | 350.5 |  |  | $ | 652.6 |  |  | $ | 654.2 |  |  | $ | 381.7 |  |  | $ | 253.8 |  |  | $ | — |  |  | $ | 2,292.8 |
Less than one year | 117.7 |  |  | 229.9 |  |  | 56.5 |  |  | 17.4 |  |  | 19.9 |  |  | — |  |  | 441.4 |
Other (2) | 0.6 |  |  | 1.2 |  |  | 0.1 |  |  | 0.1 |  |  | 9.6 |  |  | 26.3 |  |  | 37.9 |
Revenues | $ | 468.8 |  |  | $ | 883.7 |  |  | $ | 710.8 |  |  | $ | 399.2 |  |  | $ | 283.3 |  |  | $ | 26.3 |  |  | $ | 2,772.1 |
(1) | Corporate and Other revenue includes gains and losses related to mark-to-market adjustments from economic hedge activities intended to hedge future coal sales. Refer to Note 8. “Derivatives and Fair Value Measurements” for additional information regarding the economic hedge activities.
(2) | Other includes revenues from arrangements such as customer contract-related payments, royalties related to coal lease agreements, sales agency commissions, farm income and property and facility rentals, for which contract duration is not meaningful.
Committed Revenue from Contracts with Customers The Company expects to recognize revenue subsequent to June 30, 2019 of approximately $5.4 billion related to contracts with customers in which volumes and prices per ton were fixed or reasonably estimable at June 30, 2019. Approximately 45% of such amount is expected to be recognized over the next twelve months and the remainder thereafter. Actual revenue related to such contracts may differ materially for various reasons, including price adjustment features for coal quality and cost escalations, volume optionality provisions and potential force majeure events. This estimate of future revenue does not include any revenue related to contracts with variable prices per ton that cannot be reasonably estimated, such as the majority of seaborne metallurgical and seaborne thermal coal contracts where pricing is negotiated or settled quarterly or annually. Accounts Receivable “Accounts receivable, net” at June 30, 2019 and December 31, 2018 consisted of the following:
| June 30, 2019 |  | December 31, 2018
| (Dollars in millions)
Trade receivables, net | $ | 345.6 |  |  | $ | 345.5 |
Miscellaneous receivables, net | 50.1 |  |  | 104.9 |
Accounts receivable, net | $ | 395.7 |  |  | $ | 450.4 |
Trade receivables, net presented above have been shown net of reserves of $0.1 million as of December 31, 2018. There were no reserves as of June 30, 2019. Miscellaneous receivables, net presented above have been shown net of reserves of $4.3 million as of both June 30, 2019 and December 31, 2018. Included in “Operating costs and expenses” in the unaudited condensed consolidated statements of operations was a credit of $0.1 million for the three and six months ended June 30, 2019 and a charge for doubtful trade receivables of $0.2 million for the six months ended June 30, 2018. No charges for doubtful accounts were recognized during the three months ended June 30, 2018. The Company also records long-term customer receivables related to the reimbursement of certain post-mining costs which are included within “Investments and other assets” in the accompanying condensed consolidated balance sheets. The balance of such receivables was $11.3 million and $11.1 million as of June 30, 2019 and December 31, 2018, respectively. In connection with the adoption of ASC 606, the Company records a portion of the consideration received as “Interest income” in the accompanying unaudited condensed consolidated statements of operations, due to the embedded financing element within the related contract. Interest income related to these arrangements amounted to $2.6 million and $2.1 million during the three months ended June 30, 2019 and 2018, respectively, and $5.3 million and $4.2 million during the six months ended June 30, 2019 and 2018, respectively.

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