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Revenues
12 Months Ended
Dec. 31, 2019
Revenue Recognition [Abstract]  
Revenue from Contract with Customer [Text Block]
Revenue Recognition
The Company accounts for revenue in accordance with ASC Topic 606, “Revenue from Contracts with Customers” (ASC 606), which the Company adopted on January 1, 2018, using the modified retrospective approach.
Disaggregation of Revenues
Revenue by product type and market is set forth in the following tables. With respect to its seaborne mining segments, the Company classifies as “Export” certain revenue from domestically-delivered coal under contracts in which the price is derived on a basis similar to export contracts.
 
Successor
 
Year Ended December 31, 2019
 
Seaborne Thermal Mining
 
Seaborne Metallurgical Mining
 
Powder River Basin Mining
 
Midwestern U.S. Mining
 
Western U.S. Mining
 
Corporate and Other (1)
 
Consolidated
 
(Dollars in millions)
Thermal coal
 
 
 
 
 
 
 
 
 
 
 
 
 
Domestic
$
147.9

 
$

 
$
1,208.9

 
$
669.2

 
$
605.0

 
$

 
$
2,631.0

Export
822.4

 

 

 

 
11.3

 

 
833.7

Total thermal
970.3

 

 
1,208.9

 
669.2

 
616.3

 

 
3,464.7

Metallurgical coal
 
 
 
 
 
 
 
 
 
 
 
 
 
Export

 
1,030.0

 

 

 

 

 
1,030.0

Total metallurgical

 
1,030.0

 

 

 

 

 
1,030.0

Other
1.4

 
3.1

 
19.8

 
0.5

 
23.4

 
80.5

 
128.7

Revenues
$
971.7

 
$
1,033.1

 
$
1,228.7

 
$
669.7

 
$
639.7

 
$
80.5

 
$
4,623.4

 
Successor
 
Year Ended December 31, 2018
 
Seaborne Thermal Mining
 
Seaborne Metallurgical Mining
 
Powder River Basin Mining
 
Midwestern U.S. Mining
 
Western U.S. Mining
 
Corporate and Other (1)
 
Consolidated
 
(Dollars in millions)
Thermal coal
 
 
 
 
 
 
 
 
 
 
 
 
 
Domestic
$
153.0

 
$

 
$
1,424.8

 
$
799.4

 
$
543.1

 
$

 
$
2,920.3

Export
945.0

 

 

 
1.3

 
22.1

 

 
968.4

Total thermal
1,098.0

 

 
1,424.8

 
800.7

 
565.2

 

 
3,888.7

Metallurgical coal
 
 
 
 
 
 
 
 
 
 
 
 
 
Export

 
1,548.6

 

 

 

 

 
1,548.6

Total metallurgical

 
1,548.6

 

 

 

 

 
1,548.6

Other
1.2

 
4.4

 

 
0.3

 
26.8

 
111.8

 
144.5

Revenues
$
1,099.2

 
$
1,553.0

 
$
1,424.8

 
$
801.0

 
$
592.0

 
$
111.8

 
$
5,581.8

 
Successor
 
April 2 through December 31, 2017
 
Seaborne Thermal Mining
 
Seaborne Metallurgical Mining
 
Powder River Basin Mining
 
Midwestern U.S. Mining
 
Western U.S. Mining
 
Corporate and Other (1)
 
Consolidated
 
(Dollars in millions)
Thermal coal
 
 
 
 
 
 
 
 
 
 
 
 
 
Domestic
$
87.9

 
$

 
$
1,174.3

 
$
586.7

 
$
409.8

 
$

 
$
2,258.7

Export
684.1

 

 

 
5.3

 
19.2

 

 
708.6

Total thermal
772.0

 

 
1,174.3

 
592.0

 
429.0

 

 
2,967.3

Metallurgical coal
 
 
 
 
 
 
 
 
 
 
 
 
 
Export

 
1,221.0

 

 

 

 

 
1,221.0

Total metallurgical

 
1,221.0

 

 

 

 

 
1,221.0

Other
0.5

 

 
4.4

 
0.3

 
11.7

 
47.4

 
64.3

Revenues
$
772.5

 
$
1,221.0

 
$
1,178.7

 
$
592.3

 
$
440.7

 
$
47.4

 
$
4,252.6

 
Predecessor
 
January 1 through April 1, 2017
 
Seaborne Thermal Mining
 
Seaborne Metallurgical Mining
 
Powder River Basin Mining
 
Midwestern U.S. Mining
 
Western U.S. Mining
 
Corporate and Other (1)
 
Consolidated
 
(Dollars in millions)
Thermal coal
 
 
 
 
 
 
 
 
 
 
 
 
 
Domestic
$
27.3

 
$

 
$
394.3

 
$
193.2

 
$
133.5

 
$

 
$
748.3

Export
197.2

 

 

 

 

 

 
197.2

Total thermal
224.5

 

 
394.3

 
193.2

 
133.5

 

 
945.5

Metallurgical coal
 
 
 
 
 
 
 
 
 
 
 
 
 
Export

 
324.6

 

 

 

 

 
324.6

Total metallurgical

 
324.6

 

 

 

 

 
324.6

Other
0.3

 
4.3

 

 

 
16.2

 
35.3

 
56.1

Revenues
$
224.8

 
$
328.9

 
$
394.3

 
$
193.2

 
$
149.7

 
$
35.3

 
$
1,326.2


Revenue by initial contract duration was as follows:
 
Successor
 
Year Ended December 31, 2019
 
Seaborne Thermal Mining
 
Seaborne Metallurgical Mining
 
Powder River Basin Mining
 
Midwestern U.S. Mining
 
Western U.S. Mining
 
Corporate and Other (1)
 
Consolidated
 
(Dollars in millions)
One year or longer
$
589.2

 
$
828.6

 
$
1,087.6

 
$
644.3

 
$
609.9

 
$

 
$
3,759.6

Less than one year
381.1

 
201.4

 
121.3

 
24.9

 
6.4

 

 
735.1

Other (2)
1.4

 
3.1

 
19.8

 
0.5

 
23.4

 
80.5

 
128.7

Revenues
$
971.7

 
$
1,033.1

 
$
1,228.7

 
$
669.7

 
$
639.7

 
$
80.5

 
$
4,623.4

 
Successor
 
Year Ended December 31, 2018
 
Seaborne Thermal Mining
 
Seaborne Metallurgical Mining
 
Powder River Basin Mining
 
Midwestern U.S. Mining
 
Western U.S. Mining
 
Corporate and Other (1)
 
Consolidated
 
(Dollars in millions)
One year or longer
$
799.5

 
$
1,036.7

 
$
1,283.9

 
$
775.4

 
$
531.8

 
$

 
$
4,427.3

Less than one year
298.5

 
511.9

 
140.9

 
25.3

 
33.4

 

 
1,010.0

Other (2)
1.2

 
4.4

 

 
0.3

 
26.8

 
111.8

 
144.5

Revenues
$
1,099.2

 
$
1,553.0

 
$
1,424.8

 
$
801.0

 
$
592.0

 
$
111.8

 
$
5,581.8

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Successor
 
April 2 through December 31, 2017
 
Seaborne Thermal Mining
 
Seaborne Metallurgical Mining
 
Powder River Basin Mining
 
Midwestern U.S. Mining
 
Western U.S. Mining
 
Corporate and Other (1)
 
Consolidated
 
(Dollars in millions)
One year or longer
$
503.0

 
$
867.1

 
$
1,023.1

 
$
560.5

 
$
404.6

 
$

 
$
3,358.3

Less than one year
269.0

 
353.9

 
151.2

 
31.5

 
24.4

 

 
830.0

Other (2)
0.5

 

 
4.4

 
0.3

 
11.7

 
47.4

 
64.3

Revenues
$
772.5

 
$
1,221.0

 
$
1,178.7

 
$
592.3

 
$
440.7

 
$
47.4

 
$
4,252.6

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Predecessor
 
January 1 through April 1, 2017
 
Seaborne Thermal Mining
 
Seaborne Metallurgical Mining
 
Powder River Basin Mining
 
Midwestern U.S. Mining
 
Western U.S. Mining
 
Corporate and Other (1)
 
Consolidated
 
(Dollars in millions)
One year or longer
$
134.1

 
$
240.6

 
$
357.7

 
$
193.2

 
$
129.3

 
$

 
$
1,054.9

Less than one year
90.4

 
84.0

 
36.6

 

 
4.2

 

 
215.2

Other (2)
0.3

 
4.3

 

 

 
16.2

 
35.3

 
56.1

Revenues
$
224.8

 
$
328.9

 
$
394.3

 
$
193.2

 
$
149.7

 
$
35.3

 
$
1,326.2

(1) 
Corporate and Other revenue includes gains and losses related to mark-to-market adjustments from economic hedge activities intended to hedge future coal sales. Refer to Note 9. “Derivatives and Fair Value Measurements” for additional information regarding the economic hedge activities.
(2) 
Other includes revenues from arrangements such as customer contract-related payments, royalties related to coal lease agreements, sales agency commissions, farm income and property and facility rentals, for which contract duration is not meaningful.
Committed Revenue from Contracts with Customers
The Company expects to recognize revenue subsequent to December 31, 2019 of approximately $4.7 billion related to contracts with customers in which volumes and prices per ton were fixed or reasonably estimable at December 31, 2019. Approximately 48% of such amount is expected to be recognized over the next twelve months and the remainder thereafter. Actual revenue related to such contracts may differ materially for various reasons, including price adjustment features for coal quality and cost escalations, volume optionality provisions and potential force majeure events. This estimate of future revenue does not include any revenue related to contracts with variable prices per ton that cannot be reasonably estimated, such as the majority of seaborne metallurgical and seaborne thermal coal contracts where pricing is negotiated or settled quarterly or annually.
Accounts Receivable
“Accounts receivable, net” at December 31, 2019 and 2018 consisted of the following:
 
December 31,
 
2019
 
2018
 
(Dollars in millions)
Trade receivables, net
$
283.1

 
$
345.5

Miscellaneous receivables, net
46.4

 
104.9

Accounts receivable, net
$
329.5

 
$
450.4


Trade receivables, net presented above have been shown net of reserves of $0.1 million as of December 31, 2018. Trade receivables, net included no reserves as of December 31, 2019. Miscellaneous receivables, net presented above have been shown net of reserves of $4.3 million as of December 31, 2018. Miscellaneous receivables, net included no reserves as of December 31, 2019. Included in “Operating costs and expenses” in the consolidated statements of operations were credits of $4.4 million and $0.2 million for the years ended December 31, 2019 and 2018, respectively, and a charge of $4.3 million for the period ended April 2 through December 31, 2017. No charges for doubtful accounts were recognized during the period January 1 through April 1, 2017.
The Company also records long-term customer receivables related to the reimbursement of certain post-mining costs which are included within “Investments and other assets” in the accompanying consolidated balance sheets. The balance of such receivables was $11.1 million as of December 31, 2018. There were no such outstanding receivables as of December 31, 2019. Since the adoption of ASC 606, the Company records a portion of the consideration received as “Interest income” rather than “Revenues” in the accompanying consolidated statements of operations, due to the embedded financing element within the related contract. Interest income related to these arrangements amounted to $8.2 million and $8.4 million during the years ended December 31, 2019 and 2018, respectively.