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Derivatives and Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2017
Fair Value Disclosures [Abstract]  
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 Successor period April 2 through June 30, 2017 and the Predecessor periods January 1 through April 1, 2017, and the three and six months ended June 30, 2016:
 
 
 
 
 
 
 
 
 
 
 
 
 
Successor
 
 
 
 
April 2 through June 30, 2017
Financial Instrument
 
Income Statement
Classification of (Losses) Gains
 
Total gain recognized in income
 
Loss realized in income on derivatives
 
Unrealized gain recognized in income on non- designated derivatives
 
 
 
(Dollars in millions)
Foreign currency option contracts
 
Operating costs and expenses
 
$
2.9

 
$
(0.3
)
 
$
3.2

Total
 
 
 
$
2.9

 
$
(0.3
)
 
$
3.2

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Predecessor
 
 
 
 
Three Months Ended June 30, 2016
Financial Instrument
 
Income Statement
Classification of (Losses) Gains
 
Total loss recognized in income
 
Loss reclassified from other comprehensive income into income (1)
 
(Loss) gain realized 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, net
 
(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, net
 
(36.4
)
 
—

 
(36.4
)
 


Total
 
 
 
$
(139.5
)
 
$
(62.4
)
 
$
(52.1
)
 
$
(25.0
)
(1)  
Includes the reclassification from "Accumulated other comprehensive income (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.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Predecessor
 
 
 
 
January 1 through April 1, 2017
Financial Instrument
 
Income Statement
Classification of (Losses) Gains
 
Total loss recognized in income
 
Loss reclassified from other comprehensive loss into income
 
(Loss) gain realized in income on derivatives
 
Unrealized gain (loss)recognized in income on non- designated derivatives
 
 
 
(Dollars in millions)
Commodity swap contracts
 
Operating costs and expenses
 
$
(11.0
)
 
$
(11.0
)
 
$
—

 
$
—

Foreign currency forward contracts
 
Operating costs and expenses
 
(16.6
)
 
(16.6
)
 
—

 
—

Total
 
 
 
$
(27.6
)
 
$
(27.6
)
 
$
—

 
$
—


 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Predecessor
 
 
 
 
Six Months Ended June 30, 2016
Financial Instrument
 
Income Statement
Classification of (Losses) Gains
 
Total loss recognized in income
 
Loss reclassified from other comprehensive income into income (1)
 
(Loss) gain realized in income on derivatives
 
Unrealized gain (loss)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, net
 
(38.8
)
 
—

 
(38.8
)
 


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

 
—

Foreign currency forward contracts

 
Reorganization items, net
 
(36.4
)
 
—

 
(36.4
)
 


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


(1)  
Includes the reclassification from "Accumulated other comprehensive income (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.
Fair value measured on recurring basis of net financial assets and liabilities
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:
 
Successor
 
June 30, 2017
 
Level 1
 
Level 2
 
Level 3
 
Total
 
(Dollars in millions)
Foreign currency contracts
$
—

 
$
9.3

 
$
—

 
$
9.3

Total net financial liabilities
$
—

 
$
9.3

 
$
—

 
$
9.3

The following tables set forth the hierarchy of the Company’s net financial asset (liability) coal trading positions for which fair value is measured on a recurring basis as of June 30, 2017 and December 31, 2016:
 
Successor
 
June 30, 2017
 
Level 1
 
Level 2
 
Level 3
 
Total
 
(Dollars in millions)
Physical purchase/sale contracts
$
—

 
$
(0.6
)
 
$
—

 
$
(0.6
)
Total net financial liabilities
$
—

 
$
(0.6
)
 
$
—

 
$
(0.6
)
 
Predecessor
 
December 31, 2016
 
Level 1
 
Level 2
 
Level 3
 
Total
 
(Dollars in millions)
Futures, swaps and options
$
—

 
$
(0.1
)
 
$
—

 
$
(0.1
)
Physical purchase/sale contracts
—

 
0.7

 
(1.1
)
 
(0.4
)
Total net financial assets (liabilities)
$
—

 
$
0.6

 
$
(1.1
)
 
$
(0.5
)
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 as of June 30, 2017 is summarized as follows:
 
Successor
 
June 30, 2017
 
Carrying
Amount
 
Estimated
Fair Value
 
(Dollars in millions)
Long-term debt
$
1,957.1

 
$
2,009.9