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Property, Plant, Equipment and Mine Development | 6 Months Ended
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Jun. 30, 2020
Property, Plant and Equipment [Abstract] |
Property, Plant, Equipment and Mine Development | Property, Plant, Equipment and Mine Development The composition of property, plant, equipment and mine development, net, as of June 30, 2020 and December 31, 2019 is set forth in the table below:
| June 30, 2020 |  | December 31, 2019
| (Dollars in millions) |  |
Land and coal interests | $ | 2,577.8 |  |  | $ | 4,022.4 |
Buildings and improvements | 459.3 |  |  | 547.9 |
Machinery and equipment | 1,330.6 |  |  | 1,518.6 |
Less: Accumulated depreciation, depletion and amortization | (1,189.3) |  |  | (1,409.8) |
Property, plant, equipment and mine development, net | $ | 3,178.4 |  |  | $ | 4,679.1 |
Asset Impairment and Other At-Risk Assets During the three and six months ended June 30, 2020, the Company recognized an asset impairment charge of $1,418.1 million related to its North Antelope Rochelle Mine of the Powder River Basin Mining segment. Of this amount, $1,393.7 million related to the property, plant, equipment and mine development assets, $19.9 million related to operating lease right-of-use assets, and $4.5 million related to contract-based intangible assets. After giving effect to the impairment charge, the combined net book value of the property, plant, equipment and mine development assets, operating lease right-of-use assets, and contract-based intangible assets of the Powder River Basin Mining segment was $742.2 million at June 30, 2020. The outlook for the mine has been negatively impacted by the accelerated decline of coal-fired electricity generation in the U.S., driven by the reduced utilization of plants and plant retirements, sustained low natural gas pricing, and the increased use of renewable energy sources. These factors have led to the expectation of reduced future sales volumes. The impairment charge was based upon the remaining estimated discounted cash flows of the mine. Such cash flows were based upon estimates which generally constitute unobservable Level 3 inputs under the fair value hierarchy, including, but not limited to, future tons sold, coal prices for unpriced coal, production costs (including costs for labor, commodity supplies and contractors), transportation costs, and a risk-adjusted, cost of capital. The Company also identified certain assets with an aggregate carrying value of approximately $850 million at June 30, 2020 in its Seaborne Metallurgical Mining, Powder River Basin Mining, Other U.S. Thermal Mining and Corporate and Other segments whose recoverability is most sensitive to coal pricing, cost pressures, customer demand and customer concentration risk. The Company conducted a review of those assets for recoverability as of June 30, 2020 and determined that no further impairment charges were necessary as of that date.

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- Definition The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 + Details
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