Property, Plant, Equipment and Mine Development

12 Months Ended

Dec. 31, 2018

Property, Plant, Equipment and Mine Development [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

Property, Plant, Equipment and Mine Development

Property, plant, equipment and mine development, net, as of December 31, 2018 and December 31, 2017 consisted of the following:

	December 31, 2018			December 31, 2017
	(Dollars in millions)
Land and coal interests	$	4,148.8		$	3,890.5
Buildings and improvements	559.3			470.6
Machinery and equipment	1,456.3			1,149.3
Less: Accumulated depreciation, depletion and amortization	(957.4		)	(398.5		)
Property, plant, equipment and mine development, net	$	5,207.0		$	5,111.9

As more fully described in Note 2. “Emergence from the Chapter 11 Cases and Fresh Start Reporting,” all of the Company’s property, plant, equipment and mine development assets were adjusted to fair value upon emergence from the Chapter 11 Cases in connection with fresh start reporting.

Land and coal interests included coal reserves with a net book value of $3.0 billion as of December 31, 2018 and 2017. Such coal reserves were comprised of mineral rights for leased coal interests and advance royalties that had a net book value of $2.1 billion and $2.0 billion as of December 31, 2018 and 2017, respectively, and coal reserves held by fee ownership of $0.9 billion and $1.0 billion at December 31, 2018 and 2017, respectively. The amount of coal reserves not subject to current depletion at properties where the Company was not currently engaged in mining operations or leasing to third parties was $0.2 billion as of December 31, 2018 and 2017.

Land and coal interests also include acquired interests in mineral rights at certain Australian exploration properties that had a net book value of $0.1 billion as of December 31, 2018 and 2017.