XML 137 R41.htm IDEA: XBRL DOCUMENT
v3.25.4

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2025
Income Tax Disclosure [Abstract] |
(Loss) income from continuing operations before income taxes |
| Year Ended December 31,
| 2025 |  | 2024 |  | 2023
| (Dollars in millions)
U.S. | $ | (62.7) |  |  | $ | 180.2 |  |  | $ | 77.8 |
Non-U.S. | 29.2 |  |  | 335.9 |  |  | 1,047.0 |
(Loss) income from continuing operations before income taxes | $ | (33.5) |  |  | $ | 516.1 |  |  | $ | 1,124.8 |
Components of income tax provision (benefit) |
| Year Ended December 31,
| 2025 |  | 2024 |  | 2023
| (Dollars in millions)
Current: |  |  |  |  |
U.S. federal | $ | (0.1) |  |  | $ | (0.1) |  |  | $ | (0.1) |
Non-U.S. | 25.6 |  |  | 96.7 |  |  | 225.9 |
State | — |  |  | — |  |  | 0.1 |
Total current | 25.5 |  |  | 96.6 |  |  | 225.9 |
Deferred: |  |  |  |  |
Non-U.S. | (16.7) |  |  | 12.2 |  |  | 82.9 |
Total deferred | (16.7) |  |  | 12.2 |  |  | 82.9 |
Income tax provision | $ | 8.8 |  |  | $ | 108.8 |  |  | $ | 308.8 |
Reconciliation of the expected statutory federal income tax provision (benefit) to the Company's actual income tax provision | The following is a reconciliation of the expected income tax provision at the U.S. federal statutory rate to the Company’s income tax provision for the periods presented below:
| Year Ended December 31,
| 2025 |  | 2024 |  | 2023
| Amount | % |  | Amount | % |  | Amount | %
| (Dollars in millions)
U.S. federal statutory rate | $ | (7.0) |  | 21.0 | % |  | $ | 108.4 |  | 21.0 | % |  | $ | 236.2 |  | 21.0 | %
Foreign tax effects: |  |  |  |  |  |  |  |
Australia |  |  |  |  |  |  |  |
Statutory tax rate difference between Australia and U.S. | 2.2 |  | (6.6) | % |  | 30.2 |  | 5.9 | % |  | 94.4 |  | 8.4 | %
Permanent difference - remeasurement | (6.8) |  | 20.3 | % |  | 21.6 |  | 4.2 | % |  | 2.6 |  | 0.2 | %
Remeasurement of foreign tax accounts | 2.5 |  | (7.5) | % |  | (5.7) |  | (1.1) | % |  | (0.9) |  | (0.1) | %
Other | 4.8 |  | (14.3) | % |  | (0.3) |  | (0.1) | % |  | (7.8) |  | (0.7) | %
United Kingdom |  |  |  |  |  |  |  |
Deferred tax asset write-off due to liquidation | 15.0 |  | (44.8) | % |  | — |  | — | % |  | — |  | — | %
Change in valuation allowance | (15.0) |  | 44.8 | % |  | — |  | — | % |  | — |  | — | %
Other | (0.8) |  | 2.4 | % |  | — |  | — | % |  | 0.4 |  | — | %
Changes in valuation allowance | 18.9 |  | (56.4) | % |  | (29.6) |  | (5.7) | % |  | 5.0 |  | 0.4 | %
Worldwide change in prior year unrecognized tax benefits | (1.1) |  | 3.3 | % |  | (6.9) |  | (1.3) | % |  | (1.5) |  | (0.1) | %
Nondeductible and nontaxable items | 3.5 |  | (10.4) | % |  | 2.0 |  | 0.4 | % |  | 3.0 |  | 0.3 | %
Other adjustments |  |  |  |  |  |  |  |
Excess U.S. depletion | (9.1) |  | 27.2 | % |  | (8.8) |  | (1.7) | % |  | (14.0) |  | (1.2) | %
Other, net | 1.7 |  | (5.3) | % |  | (2.1) |  | (0.4) | % |  | (8.6) |  | (0.7) | %
Total income tax provision | $ | 8.8 |  | (26.3) | % |  | $ | 108.8 |  | 21.2 | % |  | $ | 308.8 |  | 27.5 | %
Tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities | The tax effects of temporary differences that gave rise to significant portions of the deferred tax assets and liabilities as of December 31, 2025 and 2024 consisted of the following:
| December 31,
| 2025 |  | 2024
| (Dollars in millions)
Deferred tax assets: |  |  |
Tax loss carryforwards and credits | $ | 808.2 |  |  | $ | 732.5 |
Property, plant, equipment and mine development, principally due to differences in depreciation, depletion and asset impairments | 539.0 |  |  | 523.2 |
Accrued postretirement benefit obligations | 29.3 |  |  | 33.7 |
Asset retirement obligations | 108.8 |  |  | 102.4 |
Employee benefits | 19.3 |  |  | 19.7 |
Take-or-pay obligations | 5.9 |  |  | 5.5 |
Investments and other assets | 28.6 |  |  | 32.6 |
Workers’ compensation obligations | 9.3 |  |  | 8.4 |
Operating lease liabilities | 29.5 |  |  | 29.0 |
Other | 38.6 |  |  | 33.0 |
Total gross deferred tax assets | 1,616.5 |  |  | 1,520.0 |
Valuation allowance | (1,469.2) |  |  | (1,420.9) |
Total net deferred tax assets | 147.3 |  |  | 99.1 |
Deferred tax liabilities: |  |  |
Property, plant, equipment and mine development, principally due to differences in depreciation, depletion and asset impairments | 123.7 |  |  | 95.5 |
Operating lease right-of-use assets | 28.9 |  |  | 29.1 |
Investments and other assets | 18.8 |  |  | 15.4 |
Total deferred tax liabilities | 171.4 |  |  | 140.0 |
Net deferred tax liability | $ | (24.1) |  |  | $ | (40.9) |
Deferred taxes are classified as follows on the Consolidated Balance Sheets: |  |  |
Noncurrent deferred income tax asset | $ | 2.2 |  |  | $ | — |
Noncurrent deferred income tax liability | $ | (26.3) |  |  | $ | (40.9) |
Schedule of Unrecognized Tax Benefits Roll Forward | A reconciliation of the beginning and ending amount of gross unrecognized tax benefits for the periods presented below is as follows:
| Year Ended December 31,
| 2025 |  | 2024 |  | 2023
| (Dollars in millions)
Balance at beginning of period | $ | 9.2 |  |  | $ | 8.7 |  |  | $ | 9.5 |
Additions for current year tax positions | 1.1 |  |  | 1.4 |  |  | 0.9 |
(Reductions) additions for prior year tax positions | (1.1) |  |  | 0.4 |  |  | (1.7) |
Reductions for expirations of statutes limitations | — |  |  | (1.3) |  |  | — |
Balance at end of period | $ | 9.2 |  |  | $ | 9.2 |  |  | $ | 8.7 |
Summary of Company tax (refunds) payments | The following table summarizes the Company’s income tax payments, net for the periods presented below:
| Year Ended December 31,
| 2025 |  | 2024 |  | 2023
| (Dollars in millions)
U.S. — federal | $ | (0.1) |  |  | $ | (0.1) |  |  | $ | (0.2) |
U.S. — state and local | — |  |  | — |  |  | 0.1 |
Australia | 26.1 |  |  | 222.6 |  |  | 130.7 |
Total income tax payments, net | $ | 26.0 |  |  | $ | 222.5 |  |  | $ | 130.6 |

X
- Definition Summary of Company's tax payments. + References No definition available. + Details
Name: | btu_SummaryOfCompanysTaxPaymentsTextBlockTableTextBlock
Namespace Prefix: | btu_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-9 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-2 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 231 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-231 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(1)(Note 1)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1 + Details
Name: | us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in unrecognized tax benefits. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 217 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-217 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15A -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-15A + Details
Name: | us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration