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Segment Information
 9 Months Ended
Sep. 30, 2016
Segment Reporting [Abstract]  
Segment Information
Segment Information
The Company reports its results of operations primarily through the following reportable segments: "Powder River Basin Mining," “Midwestern U.S. Mining," “Western U.S. Mining,” “Australian Metallurgical Mining," "Australian Thermal Mining," “Trading and Brokerage” and “Corporate and Other.” The Company’s chief operating decision maker uses Adjusted EBITDA as the primary metric to measure the segments' operating performance.
Adjusted EBITDA is defined as (loss) income from continuing operations before deducting net interest expense, income taxes, asset retirement obligation expense, depreciation, depletion and amortization and reorganization items, net. Adjusted EBITDA is also adjusted for the discrete items, which are reflected in the reconciliation below, that management excluded in analyzing the segment's operating performance. Adjusted EBITDA is not intended to serve as an alternative to U.S. GAAP measures of performance and may not be comparable to similarly-titled measures presented by other companies.
Reportable segment results were as follows:
 
 
Three Months Ended
 
Nine Months Ended
 
 
September 30,
 
September 30,
 
 
2016
 
2015
 
2016
 
2015
 
 
(Dollars in millions)
Revenues:
 
 
 
 
 
 
 
 
Powder River Basin Mining
 
$
419.6

 
$
475.0

 
$
1,062.2

 
$
1,393.9

Midwestern U.S. Mining
 
211.0

 
249.4

 
599.6

 
768.2

Western U.S. Mining
 
162.4

 
177.3

 
387.0

 
526.9

Australian Metallurgical Mining
 
232.5

 
280.4

 
682.8

 
924.6

Australian Thermal Mining
 
197.9

 
205.3

 
561.4

 
615.2

Trading and Brokerage
 
(19.2
)
 
24.5

 
(32.6
)
 
42.7

Corporate and Other
 
2.9

 
7.0

 
14.1

 
24.6

Total
 
$
1,207.1

 
$
1,418.9

 
$
3,274.5

 
$
4,296.1

 
 
 
 
 
 
 
 
 
Adjusted EBITDA:
 
 
 
 
 
 
 
 
Powder River Basin Mining
 
$
123.9

 
$
120.0

 
$
278.3

 
$
354.7

Midwestern U.S. Mining
 
59.1

 
72.3

 
172.4

 
218.6

Western U.S. Mining
 
34.3

 
45.7

 
83.2

 
147.7

Australian Metallurgical Mining
 
(34.5
)
 
(15.4
)
 
(121.0
)
 
(2.2
)
Australian Thermal Mining
 
48.9

 
49.4

 
137.2

 
153.9

Trading and Brokerage
 
(31.3
)
 
29.4

 
(90.4
)
 
30.4

Corporate and Other (1)
 
(92.1
)
 
(172.4
)
 
(270.8
)
 
(521.5
)
Total
 
$
108.3

 
$
129.0

 
$
188.9

 
$
381.6


(1)  
Includes a gain of $68.1 million during the nine months ended September 30, 2016 related to the 2016 Settlement Agreement described in Note 20 "Matters related to the Bankruptcy of Patriot Coal Corporation"
A reconciliation of Adjusted EBITDA to consolidated loss from continuing operations, net of income taxes follows:
 
 
Three Months Ended
 
Nine Months Ended
 
 
September 30,
 
September 30,
 
 
2016
 
2015
 
2016
 
2015
 
 
(Dollars in millions)
Total Adjusted EBITDA
 
$
108.3

 
$
129.0

 
$
188.9

 
$
381.6

Depreciation, depletion and amortization
 
(117.8
)
 
(136.0
)
 
(345.5
)
 
(430.6
)
Asset impairment
 
—

 
—

 
(17.2
)
 
(900.8
)
Asset retirement obligation expenses
 
(12.7
)
 
(12.3
)
 
(37.3
)
 
(40.4
)
Selling and administrative expenses related to debt restructuring
 
—

 
—

 
(21.5
)
 
—

Change in deferred tax asset valuation allowance related to equity affiliates
 
0.6

 
(0.4
)
 
0.6

 
0.4

Amortization of basis difference related to equity affiliates
 
—

 
(0.7
)
 
—

 
(4.2
)
Interest expense
 
(58.5
)
 
(118.5
)
 
(243.7
)
 
(344.0
)
Loss on early debt extinguishment
 
—

 
—

 
—

 
(67.8
)
Interest income
 
1.3

 
1.4

 
4.0

 
6.6

Reorganization items, net
 
(29.7
)
 
—

 
(125.1
)
 
—

Income tax benefit (provision)
 
12.9

 
(6.9
)
 
108.7

 
83.2

Loss from continuing operations, net of income taxes
 
$
(95.6
)
 
$
(144.4
)
 
$
(488.1
)
 
$
(1,316.0
)