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v3.20.4

Segment and Geographic Information (Tables) | 12 Months Ended
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Dec. 31, 2020
Segment Reporting [Abstract] |
Operating segment results | Segment results for the year ended December 31, 2020 were as follows:
| Seaborne Thermal Mining |  | Seaborne Metallurgical Mining |  | Powder River Basin Mining |  | Other U.S. Thermal Mining |  | Corporate and Other |  | Consolidated
| (Dollars in millions)
Revenues | $ | 711.8 |  |  | $ | 486.5 |  |  | $ | 991.1 |  |  | $ | 707.3 |  |  | $ | (15.6) |  |  | $ | 2,881.1 |
Adjusted EBITDA | 163.2 |  |  | (130.2) |  |  | 194.8 |  |  | 168.4 |  |  | (137.4) |  |  | 258.8 |
Additions to property, plant, equipment and mine development | 100.7 |  |  | 50.8 |  |  | 13.2 |  |  | 23.3 |  |  | 3.4 |  |  | 191.4 |
Loss from equity affiliates | — |  |  | — |  |  | — |  |  | — |  |  | 60.1 |  |  | 60.1 |
Segment results for the year ended December 31, 2019 were as follows:
| Seaborne Thermal Mining |  | Seaborne Metallurgical Mining |  | Powder River Basin Mining |  | Other U.S. Thermal Mining |  | Corporate and Other |  | Consolidated
| (Dollars in millions)
Revenues | $ | 971.7 |  |  | $ | 1,033.1 |  |  | $ | 1,228.7 |  |  | $ | 1,309.4 |  |  | $ | 80.5 |  |  | $ | 4,623.4 |
Adjusted EBITDA | 329.4 |  |  | 140.2 |  |  | 221.2 |  |  | 361.4 |  |  | (169.2) |  |  | 883.0 |
Additions to property, plant, equipment and mine development | 42.1 |  |  | 143.4 |  |  | 42.8 |  |  | 54.0 |  |  | 3.1 |  |  | 285.4 |
Income from equity affiliates | — |  |  | — |  |  | — |  |  | — |  |  | (3.4) |  |  | (3.4) |
Segment results for the year ended December 31, 2018 were as follows:
| Seaborne Thermal Mining |  | Seaborne Metallurgical Mining |  | Powder River Basin Mining |  | Other U.S. Thermal Mining |  | Corporate and Other |  | Consolidated
| (Dollars in millions)
Revenues | $ | 1,099.2 |  |  | $ | 1,553.0 |  |  | $ | 1,424.8 |  |  | $ | 1,393.0 |  |  | $ | 111.8 |  |  | $ | 5,581.8 |
Adjusted EBITDA | 452.0 |  |  | 441.4 |  |  | 284.5 |  |  | 290.6 |  |  | (80.6) |  |  | 1,387.9 |
Additions to property, plant, equipment and mine development | 66.6 |  |  | 88.7 |  |  | 81.0 |  |  | 60.5 |  |  | 4.2 |  |  | 301.0 |
Federal coal lease expenditures | — |  |  | — |  |  | — |  |  | 0.5 |  |  | — |  |  | 0.5 |
Income from equity affiliates | — |  |  | — |  |  | — |  |  | — |  |  | (68.1) |  |  | (68.1) |
Reconciliation of Assets from Segment to Consolidated | Assets as of December 31, 2020 were as follows:
| Seaborne Mining |  | U.S. Thermal Mining |  | Corporate and Other |  | Consolidated
| (Dollars in millions)
Total assets | $ | 1,763.0 |  |  | $ | 1,345.3 |  |  | $ | 1,558.8 |  |  | $ | 4,667.1 |
Property, plant, equipment and mine development, net | 1,347.3 |  |  | 1,258.8 |  |  | 445.0 |  |  | 3,051.1 |
Operating lease right-of-use assets | 30.8 |  |  | 3.5 |  |  | 15.6 |  |  | 49.9 |
Assets as of December 31, 2019 were as follows:
| Seaborne Mining |  | U.S. Thermal Mining |  | Corporate and Other |  | Consolidated
| (Dollars in millions)
Total assets | $ | 2,001.3 |  |  | $ | 3,044.8 |  |  | $ | 1,496.7 |  |  | $ | 6,542.8 |
Property, plant, equipment and mine development, net | 1,610.9 |  |  | 2,776.9 |  |  | 291.3 |  |  | 4,679.1 |
Operating lease right-of-use assets | 32.1 |  |  | 30.3 |  |  | 20.0 |  |  | 82.4 |
Assets as of December 31, 2018 were as follows:
| Seaborne Mining |  | U.S. Thermal Mining |  | Corporate and Other |  | Consolidated
| (Dollars in millions)
Total assets | $ | 2,044.6 |  |  | $ | 3,481.7 |  |  | $ | 1,897.4 |  |  | $ | 7,423.7 |
Property, plant, equipment and mine development, net | 1,661.3 |  |  | 3,180.4 |  |  | 365.3 |  |  | 5,207.0 |
Reconciliation of Adjusted EBITDA to consolidated loss from continuing operations | A reconciliation of consolidated (loss) income from continuing operations, net of income taxes to Adjusted EBITDA follows:
| Year Ended December 31,
| 2020 |  | 2019 |  | 2018
| (Dollars in millions)
(Loss) income from continuing operations, net of income taxes | $ | (1,859.8) |  |  | $ | (188.3) |  |  | $ | 645.7 |
Depreciation, depletion and amortization | 346.0 |  |  | 601.0 |  |  | 679.0 |
Asset retirement obligation expenses | 45.7 |  |  | 58.4 |  |  | 53.0 |
Restructuring charges | 37.9 |  |  | 24.3 |  |  | 1.2 |
Transaction costs related to business combinations and joint ventures | 23.1 |  |  | 21.6 |  |  | 7.4 |
Gain on formation of United Wambo Joint Venture | — |  |  | (48.1) |  |  | — |
Asset impairment | 1,487.4 |  |  | 270.2 |  |  | — |
Provision for North Goonyella equipment loss | — |  |  | 83.2 |  |  | 66.4 |
North Goonyella insurance recovery - equipment (1) | — |  |  | (91.1) |  |  | — |
Changes in deferred tax asset valuation allowance and reserves and amortization of basis difference related to equity affiliates | 30.9 |  |  | (18.8) |  |  | (18.3) |
Interest expense | 139.8 |  |  | 144.2 |  |  | 151.3 |
Interest income | (9.4) |  |  | (27.0) |  |  | (33.6) |
Net mark-to-market adjustment on actuarially determined liabilities | (5.1) |  |  | 67.4 |  |  | (125.5) |
Reorganization items, net | — |  |  | — |  |  | (12.8) |
Unrealized losses (gains) on economic hedges | 29.6 |  |  | (42.2) |  |  | (18.3) |
Unrealized (gains) losses on non-coal trading derivative contracts | (7.1) |  |  | (1.2) |  |  | 0.7 |
Take-or-pay contract-based intangible recognition | (8.2) |  |  | (16.6) |  |  | (26.7) |
Income tax provision | 8.0 |  |  | 46.0 |  |  | 18.4 |
Total Adjusted EBITDA | $ | 258.8 |  |  | $ | 883.0 |  |  | $ | 1,387.9 |
(1) As described in Note 20. “Other Events,” the Company recorded a $125.0 million insurance recovery during the year ended December 31, 2019 related to losses incurred at its North Goonyella Mine. Of this amount, Adjusted EBITDA excludes an allocated amount applicable to total equipment losses recognized at the time of the insurance recovery settlement, which consisted of $24.7 million and $66.4 million recognized during the years ended December 31, 2019 and 2018, respectively. The remaining $33.9 million, applicable to incremental costs and business interruption losses, is included in Adjusted EBITDA for the year ended December 31, 2019.
Revenues as a percent of total revenue from external customers by geographic region | The following table presents revenues as a percent of total revenue from external customers by geographic region:
| Year Ended December 31,
| 2020 |  | 2019 |  | 2018
U.S. | 56.2 | % |  | 53.6 | % |  | 47.8 | %
Japan | 13.3 | % |  | 15.4 | % |  | 10.1 | %
Taiwan | 7.7 | % |  | 6.0 | % |  | 8.1 | %
Australia | 6.9 | % |  | 5.8 | % |  | 6.6 | %
China | 3.8 | % |  | 3.8 | % |  | 5.9 | %
India | 2.6 | % |  | 1.2 | % |  | 6.2 | %
Vietnam | 2.4 | % |  | 2.0 | % |  | 0.5 | %
South Korea | 0.8 | % |  | 2.9 | % |  | 3.1 | %
Other | 6.3 | % |  | 9.3 | % |  | 11.7 | %
Total | 100.0 | % |  | 100.0 | % |  | 100.0 | %

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