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Derivatives and Fair Value Measurements (Tables) - Non Coal Trading [Member]
 12 Months Ended
Dec. 31, 2014
Derivative [Line Items]  
Company's foreign currency and commodity positions
Notional Amounts and Fair Value.  The following summarizes the Company’s foreign currency and commodity positions at December 31, 2014:
 
Notional Amount by Year of Maturity
 
Total
 
2015
 
2016
 
2017
Foreign Currency
 

 
 

 
 

 
 

A$:US$ hedge contracts (A$ millions)
$
3,191.1

 
$
1,661.1

 
$
1,007.0

 
$
523.0

Commodity Contracts
 

 
 

 
 

 
 

Diesel fuel hedge contracts (million gallons)
201.5

 
103.4

 
67.5

 
30.6

 
Instrument Classification by
 
 
 
 
Cash
Flow
Hedge
 
Fair
Value
Hedge
 
Economic
Hedge
 
 
Fair Value
of Net Liability
 
 
 
 
 
 
 
 
(Dollars in millions)
Foreign Currency
 

 
 

 
 

 
 
 

A$:US$ hedge contracts (A$ millions)
$
3,191.1

 
$
—

 
$
—

 
 
$
(410.0
)
Commodity Contracts
 

 
 

 
 

 
 
 

Diesel fuel hedge contracts (million gallons)
201.5

 
—

 
—

 
 
(167.1
)
Classification and amounts of pre-tax gains and losses related to the Company's non-trading hedges
The tables below show the classification and amounts of pre-tax gains and losses related to the Company’s non-coal trading hedges during the years ended December 31, 2014, 2013 and 2012:
 
 
 
 
Year Ended December 31, 2014
 
 
Income Statement Classification
Losses - Realized
 
Loss
recognized in
other
comprehensive
income on
derivative
(effective portion)
 
Loss
reclassified
from other
comprehensive
income into
income (effective
portion) (1)
 
Loss
reclassified
from other
comprehensive
income into
income
(ineffective
portion)
Financial Instrument
 
 
 
 
 
 
 
 
(Dollars in millions)
Commodity swap contracts
 
Operating costs and expenses
 
$
(194.5
)
 
$
(20.6
)
 
$
(1.7
)
Foreign currency forward contracts
 
Operating costs and expenses
 
(100.9
)
 
(27.3
)
 
—

Total
 
 
 
$
(295.4
)
 
$
(47.9
)
 
$
(1.7
)
(1) 
Includes the reclassification from "Accumulated other comprehensive loss" into earnings of $136.9 million of previously unrecognized gains on foreign currency cash flow hedge contracts monetized in the fourth quarter of 2012.
 
 
 
 
Year Ended December 31, 2013
 
 
Income Statement Classification
Gains (Losses) - Realized
 
Gain (loss)
recognized in
other
comprehensive
income on
derivative
(effective portion)
 
Gain
reclassified
from other
comprehensive
income into
income
(effective
portion)
 
Loss
reclassified
from other
comprehensive
income into
income
(ineffective
portion)
Financial Instrument
 
 
 
 
 
 
 
 
(Dollars in millions)
Commodity swap contracts
 
Operating costs and expenses
 
$
12.5

 
$
11.9

 
$
(0.5
)
Foreign currency forward contracts
 
Operating costs and expenses
 
(597.8
)
 
162.4

 
—

Total
 
 
 
$
(585.3
)
 
$
174.3

 
$
(0.5
)

 
 
 
 
Year Ended December 31, 2012
 
 
Income Statement Classification
Gains (Losses) - Realized
 
Gain
recognized in
other
comprehensive
income on
derivative
(effective portion)
 
Gain
reclassified
from other
comprehensive
income into
income
(effective
portion)
 
Loss
reclassified
from other
comprehensive
income into
income
(ineffective
portion)
Financial Instrument
 
 
 
 
 
 
 
 
(Dollars in millions)
Commodity swap contracts
 
Operating costs and expenses
 
$
14.5

 
$
48.3

 
$
(4.7
)
Foreign currency forward contracts
 
Operating costs and expenses
 
148.0

 
351.7

 
—

Total
 
 
 
$
162.5

 
$
400.0

 
$
(4.7
)
Classification and amount of non-coal trading derivatives, gross and net basis
The classification and amount of non-coal trading derivative financial instruments presented on a gross and net basis as of December 31, 2014 and 2013 are presented in the tables that follow.

 
 
Fair Value of Liabilities Presented in the Consolidated Balance Sheet as of December 31, 2014 (1)
Financial Instrument
 
 
 
Current Liabilities:
 
 
Commodity swap contracts
 
$
100.1

Foreign currency forward contracts
 
241.0

Total
 
$
341.1

 
 
 
Noncurrent Liabilities:
 
 
Commodity swap contracts
 
$
67.0

Foreign currency forward contracts
 
169.0

Total
 
$
236.0

(1) 
All commodity swap contracts and foreign currency forward contracts were in a liability position as of December 31, 2014.

 
 
Fair Value of Assets as of December 31, 2013
 
 
Gross Amounts Recognized
 
Gross Amounts Offset in the Consolidated Balance Sheet
 
Net Amounts Presented in the Consolidated Balance Sheet
 
Derivatives Not Offset in the Consolidated Balance Sheet (1)
 
Net Amount
Financial Instrument
 
 
 
 
 
 
 
(Dollars in millions)
Current Assets:
 
 
 
 
 
 
 
 
 
 
Commodity swap contracts
 
$
8.7

 
$
(2.3
)
 
$
6.4

 
n.a.

 
n.a.

Foreign currency forward contracts
 
—

 
—

 
—

 
n.a.

 
n.a.

Total
 
$
8.7

 
$
(2.3
)
 
$
6.4

 
$
(5.0
)
 
$
1.4

 
 
 
 
 
 
 
 
 
 
 
Noncurrent Assets:
 
 
 
 
 
 
 
 
 
 
Commodity swap contracts
 
$
2.8

 
$
(0.9
)
 
$
1.9

 
n.a.

 
n.a.

Foreign currency forward contracts
 
0.2

 
(0.2
)
 
—

 
n.a.

 
n.a.

Total
 
$
3.0

 
$
(1.1
)
 
$
1.9

 
$
(1.3
)
 
$
0.6


(1)
Adjustments relate to the further netting of derivative contracts with a common counterparty across the Company's foreign currency, diesel fuel and explosives hedging strategy derivative contract portfolios that would be contractually enforceable in the event of default.
 
 
Fair Value of Liabilities as of December 31, 2013
 
 
Gross Amounts Recognized
 
Gross Amounts Offset in the Consolidated Balance Sheet
 
Net Amounts Presented in the Consolidated Balance Sheet
 
Derivatives Not Offset in the Consolidated Balance Sheet (1)
 
Net Amount
Financial Instrument
 
 
 
 
 
 
 
(Dollars in millions)
Current Liabilities:
 
 
 
 
 
 
 
 
 
 
Commodity swap contracts
 
$
3.9

 
$
(1.9
)
 
$
2.0

 
n.a.

 
n.a.

Foreign currency forward contracts
 
211.9

 
—

 
211.9

 
n.a.

 
n.a.

Total
 
$
215.8

 
$
(1.9
)
 
$
213.9

 
$
(5.4
)
 
$
208.5

 
 
 
 
 
 
 
 
 
 
 
Noncurrent Liabilities:
 
 
 
 
 
 
 
 
 
 
Commodity swap contracts
 
$
2.5

 
$
(1.3
)
 
$
1.2

 
n.a.

 
n.a.

Foreign currency forward contracts
 
261.6

 
(0.2
)
 
261.4

 
n.a.

 
n.a.

Total
 
$
264.1

 
$
(1.5
)
 
$
262.6

 
$
(0.9
)
 
$
261.7

(1)
Adjustments relate to the further netting of derivative contracts with a common counterparty across the Company's foreign currency, diesel fuel and explosives hedging strategy derivative contract portfolios that would be contractually enforceable in the event of default.
Fair value measured on recurring basis of net financial assets and liabilities
Financial Instruments Measured on a Recurring Basis. The following tables set forth the hierarchy of the Company’s net financial asset (liability) positions for which fair value is measured on a recurring basis:
 
December 31, 2014
 
Level 1
 
Level 2
 
Level 3
 
Total
 
 
 
(Dollars in millions)
 
 
Investments in debt and equity securities
$
26.1

 
$
35.7

 
$
—

 
$
61.8

Commodity swap contracts
—

 
(167.1
)
 
—

 
(167.1
)
Foreign currency forward contracts
—

 
(410.0
)
 
—

 
(410.0
)
Total net financial assets (liabilities)
$
26.1

 
$
(541.4
)
 
$
—

 
$
(515.3
)
 
December 31, 2013
 
Level 1 
 
Level 2
 
Level 3
 
Total
 
 
 
(Dollars in millions)
 
 
Investments in debt and equity securities
$
28.8

 
$
38.2

 
$
—

 
$
67.0

Commodity swap contracts
—

 
5.1

 
—

 
5.1

Foreign currency forward contracts
—

 
(473.3
)
 
—

 
(473.3
)
Total net financial assets (liabilities)
$
28.8

 
$
(430.0
)
 
$
—

 
$
(401.2
)
Carrying amounts and estimated fair values of the Company's debt
The carrying amounts and estimated fair values of the Company’s long-term debt are summarized as follows:
 
December 31, 2014
 
December 31, 2013
 
Carrying
Amount
 
Estimated
Fair Value
 
Carrying
Amount
 
Estimated
Fair Value
 
 
 
(Dollars in millions)
 
 
Long-term debt
$
5,986.8

 
$
5,227.9

 
$
6,002.4

 
$
6,167.5