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Equity Method Investments | 12 Months Ended
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Dec. 31, 2024
Equity Method Investments and Joint Ventures [Abstract] |
Investment | Equity Method Investments The Company’s equity method investments include its interests in Middlemount, R3 Renewables LLC (R3), R3 Renewables II LLC (R3 II) and certain other equity method investments. The table below summarizes the book value of those investments, which are reported in “Investments and other assets” in the consolidated balance sheets, and the related “Income from equity affiliates”:
| Book Value at |  | (Income) Loss from Equity Affiliates
| December 31, |  | Year Ended December 31,
| 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2022
| (Dollars in millions)
Equity method investment related to Middlemount | $ | 52.7 |  |  | $ | 42.5 |  |  | $ | (14.9) |  |  | $ | (14.8) |  |  | $ | (135.1) |
Equity method investment related to R3 | — |  |  | 7.1 |  |  | 3.3 |  |  | 7.9 |  |  | 3.9 |
Equity method investment related to R3 II | 5.8 |  |  | — |  |  | 0.1 |  |  | — |  |  | — |
Total equity method investments | $ | 58.5 |  |  | $ | 49.6 |  |  | $ | (11.5) |  |  | $ | (6.9) |  |  | $ | (131.2) |
Middlemount The Company received no cash payments from Middlemount during the years ended December 31, 2024 and 2023. The Company received cash payments from Middlemount of $168.4 million during the year ended December 31, 2022. During the years ended December 31, 2024, 2023 and 2022, respectively, Middlemount generated revenue of approximately $229 million, $219 million and $441 million (on a 50% basis). Middlemount had current assets, noncurrent assets, current liabilities and noncurrent liabilities of $62.9 million, $224.1 million, $146.2 million and $25.8 million, respectively, as of December 31, 2024 and $48.2 million, $199.5 million, $76.6 million and $58.2 million, respectively, as of December 31, 2023 (on a 50% basis). R3 In March 2022, the Company entered into a joint venture with unrelated partners to form R3. R3 was formed with the intent of developing various sites, including certain reclaimed mining land held by the Company in the U.S., for utility-scale photovoltaic solar generation and battery storage. The Company contributed $11.3 million, $8.0 million and $10.9 million to R3 during the years ended December 31, 2024, 2023 and 2022, respectively. In November 2024, R3 sold seven projects to an unrelated party and contributed the remaining three projects to a new entity (R3 II). The unrelated party purchased 75% of the equity in R3 II for cash and contingent consideration for the future obligation to pay seller’s milestone payments. R3 used the proceeds from the sale of R3 II to repurchase shares from the other investors of R3, such that Peabody is the only remaining equity holder of R3, which has a 25% equity interest in R3 II. R3 also distributed $11.4 million of the proceeds to Peabody. As Peabody is the only remaining equity holder of R3, the Company consolidated R3.

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- Definition The entire disclosure for investment. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/320/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Topic 321 -Publisher FASB -URI https://asc.fasb.org/321/tableOfContent Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Topic 325 -Publisher FASB -URI https://asc.fasb.org/325/tableOfContent + Details
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