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Equity Method Investments | 3 Months Ended
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Mar. 31, 2022
Equity Method Investment, Summarized Financial Information [Abstract] |
Equity Method Investments | Equity Method Investments The Company had total equity method investments and financing receivables of $62.9 million and $62.2 million reflected in “Investments and other assets” in the condensed consolidated balance sheets as of March 31, 2022 and December 31, 2021, respectively, related to Middlemount Coal Pty Ltd (Middlemount). Included in “(Income) loss from equity affiliates” in the unaudited condensed consolidated statements of operations were gains related to Middlemount of $45.1 million during the three months ended March 31, 2022, and losses of $0.9 million during the three months ended March 31, 2021. The Company received cash payments from Middlemount of $47.0 million and $2.3 million during the three months ended March 31, 2022 and 2021, respectively. One of the Company’s Australian subsidiaries and the other shareholder of Middlemount are parties to an agreement, as amended from time to time, to provide a revolving loan (Revolving Loans) to Middlemount. The Company’s participation in the Revolving Loans will not, at any time, exceed its 50% equity interest of the revolving loan limit, which was $50 million Australian dolla rs at March 31, 2022. The Revolving Loans bear interest at 10% per annum and expire on December 31, 2023. T he Revolving Loans were not drawn upon by Middlemount as of either March 31, 2022 or December 31, 2021. As of both March 31, 2022 and December 31, 2021, the financing receivables and Revolving Loans are accounted for as in-substance common stock due to the limited fair value attributed to Middlemount’s equi ty.

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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -URI http://asc.fasb.org/topic&trid=2196965 + Details
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