Summary Quarterly Financial Information

12 Months Ended

Dec. 31, 2012

Summary Quarterly Financial Information (Unaudited)

Summary of Quarterly Financial Information (Unaudited)

A summary of the unaudited quarterly results of operations for the years ended December 31, 2012 and 2011 is presented below.



	Year Ended December 31, 2012
	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
	(In millions, except per share data)
Revenues	$	2,020.7	$	1,981.1	$	2,058.8	$	2,016.9
Operating profit (loss)	351.3		276.7		266.5		(722.0		)
Income (loss) from continuing operations, net of income taxes	183.0		214.5		122.9		(991.3		)
Net income (loss)	178.3		207.8		41.6		(1,002.8		)
Net income (loss) attributable to common stockholders	172.7		204.7		42.9		(1,006.0		)
Basic EPS — continuing operations⁽¹⁾	$	0.65	$	0.78	$	0.46	$	(3.73	)
Diluted EPS — continuing operations⁽¹⁾	0.65		0.78		0.46		(3.73		)
Weighted average shares used in calculating basic EPS	270.1		269.2		266.2		266.3
Weighted average shares used in calculating diluted EPS	270.9		269.8		266.8		266.3


⁽¹⁾	EPS for the quarters may not sum to the amounts for the year as each period is computed on a discrete basis.

Operating profit (loss) for the third and fourth quarter of 2012 reflected $7.7 million and $921.3 million, respectively, of asset impairment and mine closure costs. Income (loss) from continuing operations, net of income taxes, for all quarters in 2012 included the non-cash impact of the remeasurement of non-U.S. income tax accounts, which amounted to additional tax expense of $8.9 million and $13.6 million in the first and third quarter of 2012, respectively, and a tax benefit of $13.8 million and $0.8 million in the second and fourth quarter of 2012, respectively. Income (loss) from continuing operations, net of income taxes, for the second and fourth quarter of 2012 included net tax benefits related to the acquisition restructuring of PEA-PCI of $59.7 million and $15.0 million, respectively. Income (loss) from continuing operations, net of income taxes, for the third and fourth quarter of 2012 reflected net tax benefits of $2.9 million and $227.3 million, respectively, related to asset impairment and mine closure costs. Income (loss) from continuing operations, net of income taxes, for the fourth quarter of 2012 also included income tax charges related to a net deferred tax liability recognized in connection with the MRRT and an increase in valuation allowance against Australian loss carryforwards of $77.2 million and $332.2 million, respectively. Net income (loss) for the third quarter of 2012 reflected $75.0 million of after-tax asset impairment and mine closure costs related to a discontinued operation.



	Year Ended December 31, 2011
	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
	(In millions, except per share data)
Revenues	$	1,723.8	$	1,961.7	$	1,980.6	$	2,229.8
Operating profit	312.6		479.4		385.5		418.2
Income from continuing operations, net of income taxes	193.6		306.5		291.2		221.5
Net income	178.7		292.2		281.4		194.0
Net income attributable to common stockholders	176.5		284.8		274.0		222.4
Basic EPS — continuing operations⁽¹⁾	$	0.71	$	1.10	$	1.05	$	0.92
Diluted EPS — continuing operations⁽¹⁾	0.70		1.10		1.04		0.92
Weighted average shares used in calculating basic EPS	268.9		269.0		269.2		269.3
Weighted average shares used in calculating diluted EPS	272.8		270.5		270.6		270.2


⁽¹⁾	EPS for the quarters may not sum to the amounts for the year as each period is computed on a discrete basis.

Operating profit for the third and fourth quarter of 2011 reflected $9.1 million and $76.1 million, respectively, of acquisition costs related to the PEA-PCI acquisition and an adverse impact of a roof fall and recovery of longwall operations at the Company's North Goonyella Mine in Australia of $122.9 million and $111.8 million, respectively. Income from continuing operations, net of income taxes, for all quarters in 2011 included the non-cash impact of the remeasurement of non-U.S. income tax accounts, which amounted to additional tax expense of $6.4 million, $15.4 million and $16.0 million in the first, second and fourth quarter of 2011, respectively, and a tax benefit of $38.7 million in the third quarter of 2011. PEA-PCI results have been included in the Company's results of operations from the date of acquisition on October 26, 2011.

- Definition

The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.

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