Discontinued Operations

9 Months Ended

Sep. 30, 2015

Discontinued Operations and Disposal Groups [Abstract]

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

Discontinued Operations

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

Summarized Results of Discontinued Operations

Results from discontinued operations were as follows during the three and nine months ended September 30, 2015 and 2014:

	Three Months Ended					Nine Months Ended
	September 30,					September 30,
	2015			2014		2015			2014
	(Dollars in millions)
(Loss) income from discontinued operations before income taxes	$	(157.5	)	$	7.6	$	(202.7	)	$	8.6
Income tax provision	—			2.6		—			2.6
(Loss) income from discontinued operations, net of income taxes	$	(157.5	)	$	5.0	$	(202.7	)	$	6.0

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:

	September 30, 2015		December 31, 2014
	(Dollars in millions)
Assets:
Other current assets	$	0.3	$	0.3
Investments and other assets	15.9		16.3
Total assets classified as discontinued operations	$	16.2	$	16.6
Liabilities:
Accounts payable and accrued expenses	$	78.2	$	12.5
Other noncurrent liabilities	218.0		109.8
Total liabilities classified as discontinued operations	$	296.2	$	122.3

Patriot-Related Matters. Refer to Note 19. "Matters Related to the Patriot Bankruptcy" for information surrounding charges recorded during the three and nine months ended September 30, 2015 associated with the bankruptcy of Patriot Coal Corporation and certain of its wholly-owned subsidiaries (Patriot).

Wilkie Creek Mine. In December 2013, the Company ceased production and started reclamation of the Wilkie Creek Mine in Queensland, Australia. On June 30, 2014, Queensland Bulk Handling Pty Ltd (QBH) commenced litigation against Peabody (Wilkie Creek) Pty Limited, the indirect wholly-owned subsidiary of the Company that owns the Wilkie Creek Mine, alleging breach of a Coal Port Services Agreement (CPSA) between the parties. Included in "(Loss) income from discontinued operations, net of income taxes" for the nine months ended September 30, 2015 is a $7.6 million charge related to that litigation. Refer to Note 18. "Commitments and Contingencies" for additional information surrounding the QBH matter.

In June 2015, the Company entered into an agreement to sell the Wilkie Creek Mine in exchange for potential cash proceeds of up to $20 million and the assumption of certain liabilities, including asset retirement obligations. That agreement was subsequently terminated in October 2015 in conjunction with entering into a new agreement with similar terms. The closing of the sale remains subject to certain conditions.