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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

(Loss) income from continuing operations before income taxes

(Loss) income from continuing operations before income taxes for the periods presented below consisted of the following:

	Successor											Predecessor
	Year Ended December 31, 2019				Year Ended December 31, 2018				April 2 through December 31, 2017			January 1 through April 1, 2017
	(Dollars in millions)
U.S.	$	(374.2	)		$	(43.4	)		$	10.4		$	2,408.7
Non-U.S.	231.9				707.5				541.7			(2,868.0		)
Total	$	(142.3	)		$	664.1			$	552.1		$	(459.3	)

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, 2019				Year Ended December 31, 2018				April 2 through December 31, 2017			January 1 through April 1, 2017
	(Dollars in millions)
Current:
U.S. federal	$	(21.5	)		$	(46.8	)		$	(101.4	)	$	(3.1	)
Non-U.S.	28.4				29.8				40.4			8.3
State	(0.3		)		(0.1		)		(0.4		)	(6.7		)
Total current	6.6				(17.1		)		(61.4		)	(1.5		)
Deferred:
U.S. federal	20.3				30.4				(85.1		)	(101.0		)
Non-U.S.	19.3				5.7				(14.5		)	(160.4		)
State	(0.2		)		(0.6		)		—			(0.9		)
Total deferred	39.4				35.5				(99.6		)	(262.3		)
Total income tax provision (benefit)	$	46.0			$	18.4			$	(161.0	)	$	(263.8	)

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 (benefit) expense to the Company’s income tax provision (benefit) for the periods presented below:

	Successor											Predecessor
	Year Ended December 31, 2019				Year Ended December 31, 2018				April 2 through December 31, 2017			January 1 through April 1, 2017
	(Dollars in millions)
Expected income tax (benefit) expense at U.S. federal statutory rate	$	(29.9	)		$	139.5			$	193.2		$	(160.8	)
Changes in valuation allowance, income tax	(32.0		)		(284.6		)		(744.9		)	(777.2		)
Remeasurement due to the Tax Cuts and Jobs Act	—				9.5				473.5			—
Reorganization costs	—				—				—			2,130.0
Bad debt deduction	—				—				—			(1,639.6		)
Changes in tax reserves	3.0				2.1				7.2			(9.2		)
Excess depletion	(19.3		)		(28.5		)		(40.4		)	(11.2		)
Foreign earnings repatriation	76.1				—				—			—
Foreign earnings provision differential	45.6				97.1				(26.3		)	158.2
Global intangible low-taxed income	6.1				68.2				—			—
Remeasurement of foreign income tax accounts	(0.1		)		(0.2		)		(0.3		)	9.4
State income taxes, net of federal tax benefit	(13.2		)		3.2				(3.1		)	40.6
Other, net	9.7				12.1				(19.9		)	(4.0		)
Total income tax provision (benefit)	$	46.0			$	18.4			$	(161.0	)	$	(263.8	)

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, 2019 and 2018 consisted of the following:

	December 31,
	2019				2018
	(Dollars in millions)
Deferred tax assets:
Tax loss carryforwards and credits	$	1,530.9			$	1,729.3
Property, plant, equipment and mine development, principally due to differences in depreciation, depletion and asset impairments	276.6				304.5
Accrued postretirement benefit obligations	142.6				139.5
Asset retirement obligations	86.6				47.2
Employee benefits	25.3				24.8
Take or pay obligations	12.0				17.1
Investments and other assets	89.0				82.7
Workers’ compensation obligations	7.6				6.2
Operating lease right-of-use assets	20.8				—
Other	16.7				38.2
Total gross deferred tax assets	2,208.1				2,389.5
Valuation allowance, income tax	(2,068.4		)		(2,094.3		)
Total deferred tax assets	139.7				295.2
Deferred tax liabilities:
Property, plant, equipment and mine development, principally due to differences in depreciation, depletion and asset impairments	100.9				203.4
Operating lease liabilities	20.8				—
Coal supply agreements	3.1				9.3
Investments and other assets	15.4				43.7
Total deferred tax liabilities	140.2				256.4
Net deferred tax (liability) asset	$	(0.5	)		$	38.8
Deferred taxes are classified as follows:
Noncurrent deferred income tax asset	$	28.3			$	48.5
Noncurrent deferred income tax liability	(28.8		)		(9.7		)
Net deferred tax (liability) asset	$	(0.5	)		$	38.8

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, 2019 and 2018:

	December 31,
	2019				2018
	(Dollars in millions)
Deferred income taxes	$	15.5			$	13.0
Other noncurrent liabilities	1.0				1.0
Net unrecognized tax benefits	$	16.5			$	14.0
Gross unrecognized tax benefits	$	16.5			$	14.0

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, 2019				Year Ended December 31, 2018				April 2 through December 31, 2017			January 1 through April 1, 2017
	(Dollars in millions)
Balance at beginning of period	$	14.0			$	12.7			$	12.5		$	20.1
Additions for current year tax positions	2.2				1.8				0.8			—
Additions (reductions) for prior year tax positions	0.3				—				(0.5		)	(7.6		)
Reductions for settlements with tax authorities	—				(0.5		)		(0.1		)	—
Balance at end of period	$	16.5			$	14.0			$	12.7		$	12.5

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, 2019				Year Ended December 31, 2018				April 2 through December 31, 2017			January 1 through April 1, 2017
	(Dollars in millions)
U.S. — federal	$	(45.7	)		$	(103.1	)		$	(11.2	)	$	—
U.S. — state and local	0.3				(1.6		)		—			—
Non-U.S.	36.3				40.7				10.4			5.5
Total income tax (refunds) payments, net	$	(9.1	)		$	(64.0	)		$	(0.8	)	$	5.5

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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.

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