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Segment Information
 6 Months Ended
Jun. 30, 2013
Segment Reporting [Abstract]  
Segment Information
Segment Information
The Company reports its results of operations primarily through the following reportable segments: “Australian Mining," “Western U.S. Mining,” “Midwestern U.S. Mining,” “Trading and Brokerage” and “Corporate and Other.” The Company’s chief operating decision maker uses Adjusted EBITDA as the primary measure of segment profit and loss. The Company defines Adjusted EBITDA as income from continuing operations before deducting net interest expense, income taxes, asset retirement obligation expenses, depreciation, depletion and amortization, asset impairment and mine closure costs and amortization of basis difference related to equity method investments.
Reportable segment results were as follows:
 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
 
2013
 
2012
 
2013
 
2012
 
 
(Dollars in millions)
Revenues:
 
 
 
 
 
 
 
 
Australian Mining
 
$
744.8

 
$
884.9

 
$
1,482.8

 
$
1,739.0

Western U.S. Mining
 
640.9

 
669.0

 
1,281.0

 
1,430.0

Midwestern U.S. Mining
 
330.0

 
346.9

 
666.7

 
694.6

Trading and Brokerage
 
(3.4
)
 
75.6

 
22.5

 
128.1

Corporate and Other
 
13.0

 
4.7

 
20.3

 
10.1

Total
 
$
1,725.3

 
$
1,981.1

 
$
3,473.3

 
$
4,001.8

 
 
 
 
 
 
 
 
 
Adjusted EBITDA:
 
 
 
 
 
 
 
 
Australian Mining
 
$
112.5

 
$
240.4

 
$
212.9

 
$
536.0

Western U.S. Mining
 
154.9

 
165.4

 
315.4

 
372.4

Midwestern U.S. Mining
 
106.8

 
104.7

 
219.1

 
213.9

Trading and Brokerage
 
(41.0
)
 
45.4

 
(25.0
)
 
73.5

Corporate and Other
 
(78.9
)
 
(105.8
)
 
(188.0
)
 
(234.2
)
Total
 
$
254.3

 
$
450.1

 
$
534.4

 
$
961.6


A reconciliation of Adjusted EBITDA to consolidated income from continuing operations, net of income taxes follows:
 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
 
2013
 
2012
 
2013
 
2012
 
 
(Dollars in millions)
Total Adjusted EBITDA
 
$
254.3

 
$
450.1

 
$
534.4

 
$
961.6

Depreciation, depletion and amortization
 
185.7

 
155.3

 
356.4

 
298.2

Asset impairment
 
21.5

 
—

 
21.5

 
—

Amortization of basis difference related to equity affiliates
 
2.4

 
0.9

 
4.0

 
3.2

Asset retirement obligation expenses
 
18.3

 
17.2

 
37.3

 
32.2

Interest expense
 
110.8

 
106.9

 
212.1

 
208.9

Interest income
 
(1.1
)
 
(6.5
)
 
(7.0
)
 
(14.6
)
Income tax (benefit) provision
 
(184.7
)
 
(38.2
)
 
(181.0
)
 
36.2

Income from continuing operations, net of income taxes
 
$
101.4

 
$
214.5

 
$
91.1

 
$
397.5