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Segment Information
 3 Months Ended
Mar. 31, 2023
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company reports its results of operations primarily through the following reportable segments: Seaborne Thermal Mining, Seaborne Metallurgical Mining, Powder River Basin Mining, Other U.S. Thermal Mining and Corporate and Other. The Company’s chief operating decision maker, defined as its Chief Executive Officer, uses Adjusted EBITDA as the primary metric to measure the segments’ operating performance and allocate resources.
Adjusted EBITDA is a non-GAAP financial measure defined as income (loss) from continuing operations before deducting net interest expense, income taxes, asset retirement obligation expenses and depreciation, depletion and amortization. Adjusted EBITDA is also adjusted for the discrete items that management excluded in analyzing the segments’ operating performance, as displayed in the reconciliation below. Management believes non-GAAP performance measures are used by investors to measure the Company’s operating performance. Adjusted EBITDA is not intended to serve as an alternative to U.S. GAAP measures of performance and may not be comparable to similarly-titled measures presented by other companies.
Reportable segment results were as follows:
Three Months Ended March 31,
 20232022
 (Dollars in millions)
Revenue:
Seaborne Thermal Mining$346.5 $251.2 
Seaborne Metallurgical Mining288.4 321.3 
Powder River Basin Mining305.3 251.2 
Other U.S. Thermal Mining249.4 203.1 
Corporate and Other174.4 (335.4)
Total$1,364.0 $691.4 
Adjusted EBITDA:
Seaborne Thermal Mining$164.0 $90.5 
Seaborne Metallurgical Mining90.8 181.0 
Powder River Basin Mining35.8 7.6 
Other U.S. Thermal Mining64.2 50.0 
Corporate and Other35.8 (1.6)
Total$390.6 $327.5 
A reconciliation of consolidated income (loss) from continuing operations, net of income taxes to Adjusted EBITDA follows:
Three Months Ended March 31,
20232022
 (Dollars in millions)
Income (loss) from continuing operations, net of income taxes$284.1 $(119.8)
Depreciation, depletion and amortization76.3 72.9 
Asset retirement obligation expenses15.4 15.0 
Restructuring charges0.1 1.6 
Asset impairment2.0 — 
Changes in amortization of basis difference related to equity affiliates(0.3)(0.6)
Interest expense18.4 39.4 
Net loss on early debt extinguishment6.8 23.5 
Interest income(13.1)(0.5)
Unrealized (gains) losses on derivative contracts related to forecasted sales(118.7)301.0 
Unrealized losses (gains) on foreign currency option contracts2.2 (3.3)
Take-or-pay contract-based intangible recognition(0.6)(0.7)
Income tax provision (benefit)118.0 (1.0)
Adjusted EBITDA$390.6 $327.5