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Derivatives and Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2016
Derivative [Line Items]  
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]
The following table summarizes the changes related to the Company’s Corporate Hedging derivative financial instruments recurring Level 3 financial liabilities:
 
 
Three Months Ended
 
Six Months Ended
 
 
June 30, 2016
 
June 30, 2016
 
 
Commodity Contracts
 
Foreign Currency Contracts
 
Total
 
Commodity Contracts
 
Foreign Currency Contracts
 
Total
 
 
(Dollars in millions)
Beginning of period
 
$
91.6

 
$
112.8

 
$
204.4

 
$
123.7

 
$
200.7

 
$
324.4

Total net losses realized/unrealized:
 
 
 
 
 
 
 
 
 
 
 
 
Included in earnings (1)
 
35.1

 
36.3

 
71.4

 
15.7

 
(48.0
)
 
(32.3
)
Settlements / terminations
 
(126.7
)
 
(149.1
)
 
(275.8
)
 
(139.4
)
 
(152.7
)
 
(292.1
)
End of period
 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

(1)
Includes reorganization items and realized gains (losses)
Non Coal Trading [Member]  
Derivative [Line Items]  
Classification and amounts of pre-tax gains and losses related to the Company's non coal-trading hedges
The tables below show the classification and amounts of pre-tax gains and losses related to the Company’s Corporate Hedging derivatives during the three and six months ended June 30, 2016 and 2015:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended June 30, 2016
Financial Instrument
 
Income Statement
Classification of (Losses) Gains
 
Total realized loss recognized in income
 
Loss reclassified from other comprehensive loss into income (1)
 
(Loss) gain recognized in income on derivatives
 
Unrealized gain (loss)recognized in income on non- designated derivatives
 
 
 
 
(Dollars in millions)
Commodity swap contracts
 
Operating costs and expenses
 
$
(18.6
)
 
$
(22.2
)
 
$
(1.8
)
 
$
5.4

Commodity swap contracts
 
Reorganization items
 
(38.8
)
 
—

 
(38.8
)
 
—

Foreign currency forward contracts
 
Operating costs and expenses
 
(45.7
)
 
(40.2
)
 
24.9

 
(30.4
)
Foreign currency forward contracts
 
Reorganization items
 
(36.4
)
 
—

 
(36.4
)
 
—

Total
 
 
 
$
(139.5
)
 
$
(62.4
)
 
$
(52.1
)
 
$
(25.0
)

(1)  
Includes the reclassification from "Accumulated other comprehensive loss" into earnings of $13.6 million and $9.0 million of previously unrecognized losses on foreign currency and fuel contracts, respectively, monetized in the first quarter of 2016.
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended June 30, 2015

Financial Instrument
 
Income Statement
Classification of (Losses) Gains
 
Gain recognized in other comprehensive income on derivatives
(effective portion)
 
Loss reclassified from other comprehensive income into income
(effective portion)(1)
 
Gain reclassified from other comprehensive income into income
(ineffective portion)
 
 
 
(Dollars in millions)

Commodity swap contracts
 
Operating costs and expenses
 
$
54.1

 
$
(25.4
)
 
$
0.3

Foreign currency forward contracts
 
Operating costs and expenses
 
117.1

 
(80.8
)
 
—

Total
 
 
 
$
171.2

 
$
(106.2
)
 
$
0.3

(1)  
Includes the reclassification from "Accumulated other comprehensive loss" into earnings of $4.1 million of previously unrecognized gains on foreign currency cash flow hedge contracts monetized in the fourth quarter of 2012.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Six Months Ended June 30, 2016
Financial Instrument
 
Income Statement
Classification of (Losses) Gains
 
Total realized loss recognized in income
 
Loss reclassified from other comprehensive income into income (1)
 
(Loss) gain recognized in income on derivatives
 
Unrealized (loss) gain recognized in income on non- designated derivatives
 
 
 
 
(Dollars in millions)

Commodity swap contracts
 
Operating costs and expenses
 
$
(58.9
)
 
$
(47.0
)
 
$
(11.9
)
 
$
—

Commodity swap contracts
 
Reorganization items
 
(38.8
)
 
—

 
(38.8
)
 
—

Foreign currency forward contracts
 
Operating costs and expenses
 
(91.4
)
 
(94.1
)
 
2.7

 
—

Foreign currency forward contracts
 
Reorganization items
 
(36.4
)
 
—

 
(36.4
)
 
—

Total
 
 
 
$
(225.5
)
 
$
(141.1
)
 
$
(84.4
)
 
$
—

(1)  
Includes the reclassification from "Accumulated other comprehensive loss" into earnings of $13.6 million and $9.0 million of previously unrecognized losses on foreign currency and fuel contracts, respectively, monetized in the first quarter of 2016.

 
 
 
 
 
 
 
 
 
 
 
 
Six Months Ended June 30, 2015

Financial Instrument
 
Income Statement
Classification of (Losses) Gains
 
Gain (loss) recognized in other comprehensive income on derivatives
(effective portion)
 
Loss reclassified from other comprehensive income into income
(effective portion)(1)
 
Gain reclassified from other comprehensive income into income
(ineffective portion)
 
 
 
(Dollars in millions)

Commodity swap contracts
 
Operating costs and expenses
 
$
35.8

 
$
(57.1
)
 
$
1.8

Foreign currency forward contracts
 
Operating costs and expenses
 
(19.0
)
 
(154.4
)
 
—

Total
 
 
 
$
16.8

 
$
(211.5
)
 
$
1.8

(1)  
Includes the reclassification from "Accumulated other comprehensive loss" into earnings of $14.8 million of previously unrecognized gains on foreign currency cash flow hedge contracts monetized in the fourth quarter of 2012.
Classification and amount of non-coal trading derivatives, gross and net basis
The classification and amount of Corporate Hedging derivative financial instruments presented on a gross and net basis as of December 31, 2015 are presented in the table that follows.
Financial Instrument
Fair Value of Liabilities Presented in the Condensed Consolidated Balance Sheet as of December 31, 2015 (1)
 
(Dollars in millions)
Current Liabilities:
 
Commodity swap contracts
$
86.1

Foreign currency forward contracts
145.6

Total
$
231.7

 
 
Noncurrent Liabilities:
 
Commodity swap contracts
$
37.6

Foreign currency forward contracts
55.1

Total
$
92.7


(1)  
All commodity swap contracts and foreign currency forward contracts were in a liability position as of December 31, 2015.
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 liability positions for which fair value is measured on a recurring basis:
 
December 31, 2015
 
Level 1
 
Level 2
 
Level 3
 
Total
 
(Dollars in millions)
Commodity swap contracts
—

 
—

 
(123.7
)
 
(123.7
)
Foreign currency contracts
—

 
—

 
(200.7
)
 
(200.7
)
Total net financial liabilities
$
—

 
$
—

 
$
(324.4
)
 
$
(324.4
)
Carrying amounts and estimated fair values of the Company's debt
The estimated fair value of the Company’s current and long-term debt as of June 30, 2016 is subject to compromise in connection with the Company's plan of reorganization and as such has been excluded from the table below. The carrying amount and estimated fair value of the Company's current and long-term debt as of December 31, 2015 are summarized as follows:
 
December 31, 2015
 
Carrying
Amount
 
Estimated
Fair Value
 
(Dollars in millions)
Current and Long-term debt
$
6,241.2

 
$
1,372.7