Discontinued Operations

6 Months Ended

Jun. 30, 2014

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

Discontinued Operations

Discontinued operations include former Australian Mining and Midwestern U.S. Mining segment assets that have ceased production and other previously divested operations.

Summarized Results of Discontinued Operations

Results from discontinued operations were as follows during the three and six months ended June 30, 2014 and 2013:    

	Three Months Ended June 30,					Six Months Ended June 30,
	2014		2013			2014		2013
	(Dollars in millions)
Income (loss) from discontinued operations before income taxes	$	1.2	$	(16.1	)	$	1.1	$	(32.7	)
Income tax provision (benefit)	0.4		(1.8		)	0.1		(9.3		)
Income (loss) from discontinued operations, net of income taxes	$	0.8	$	(14.3	)	$	1.0	$	(23.4	)

There were no significant revenues from discontinued operations during the three and six months ended June 30, 2014. Total revenues associated with discontinued operations amounted to $35.6 million and $67.7 million during the three and six months ended June 30, 2013, respectively.

Assets and Liabilities of Discontinued Operations

The carrying amounts of assets and liabilities classified as discontinued operations included in the Company's condensed consolidated balance sheets were as follows:

	June 30, 2014		December 31, 2013
	(Dollars in millions)
Assets:
Other current assets	$	2.4	$	38.6
Investments and other assets	20.8		47.4
Total assets classified as discontinued operations	$	23.2	$	86.0
Liabilities:
Accounts payable and accrued expenses	$	42.3	$	127.8
Other noncurrent liabilities	86.7		90.2
Total liabilities classified as discontinued operations	$	129.0	$	218.0

Settlement Agreement with Patriot and the UMWA. Pursuant to the definitive settlement agreement reached in 2013 with Patriot Coal Corporation and certain of its wholly owned subsidiaries (Patriot) and the United Mine Workers of America (UMWA) on behalf of itself, its represented Patriot employees and its represented Patriot retirees, the Company remitted a payment of $70 million to Patriot in January 2014. Refer to Note 18. "Commitments and Contingencies" for additional details surrounding that settlement agreement.

Wilkie Creek Mine. In December 2013, the Company ceased production and commenced the reclamation of the Wilkie Creek Mine in Queensland, Australia and correspondingly accrued for potential port and rail take-or-pay contractual liabilities and certain other exit costs at that time. The following table summarizes the changes in those liabilities for the six months ended June 30, 2014:

	Accrued Take-or-Pay Liabilities			Other Exit Costs			Total
	(Dollars in millions)
Liability balance at December 31, 2013	$	33.9		$	2.7		$	36.6
Change in estimate	—			(0.2		)	(0.2		)
Cash payments	(6.3		)	(2.4		)	(8.7		)
Foreign currency remeasurement expense	1.6			—			1.6
Liability balance at June 30, 2014	$	29.2		$	0.1		$	29.3

In addition to the closure-related liabilities detailed above, the Company's unaudited condensed consolidated balance sheet at June 30, 2014 included $48.0 million of asset retirement obligations related to Wilkie Creek.

In May 2014, the Company entered into an agreement to sell the Wilkie Creek Mine in exchange for approximately $70 million in cash and the assumption of port and rail obligations and asset retirement obligations, with the closing of the sale subject to certain conditions.