Divestitures

12 Months Ended

Dec. 31, 2015

Discontinued Operations and Disposal Groups [Abstract]

Divestitures

Divestitures

During 2014, the Company entered into agreements to sell various non-core operations, including operating and idled thermal coal complexes in Kentucky and the Company's highwall manufacturing subsidiary. The Company received $46.7 million in cash and recognized a net pre-tax gain of $17.8 million from these divestitures, reflected in "other operating expense (income), net" in the Consolidated Statement of Operations.

As part of a strategy to divest non-core thermal coal assets, the Company entered into a definitive agreement on June 27, 2013 to sell Canyon Fuel, to Bowie Resources, LLC. Canyon Fuel operated two longwall mining complexes and a continuous miner operation in Utah. The sale was completed on August 16, 2013, for $422.7 million in cash, including adjustments to the purchase price to finalize working capital.

The following table summarizes the results of discontinued operations through the date of disposition:

	Year Ended December 31,
	2013
Total Revenues	$	219,002
Income from discontinued operations before income taxes	$	32,167
Gain on sale	120,321
Less: income tax expense	49,092
Income from discontinued operations, including gain on sale - net of tax	$	103,396
Basic earnings per common share from discontinued operations	$	4.87
Diluted earnings per common share from discontinued operations	$	4.87