Segment and Geographic Information (Tables)

12 Months Ended

Dec. 31, 2020

Segment results for the year ended December 31, 2020 were as follows:


	Seaborne Thermal Mining		Seaborne Metallurgical Mining		Powder River Basin Mining		Other U.S. Thermal Mining		Corporate and Other		Consolidated
	(Dollars in millions)
Revenues	$	711.8	$	486.5	$	991.1	$	707.3	$	(15.6)	$	2,881.1
Adjusted EBITDA	163.2		(130.2)		194.8		168.4		(137.4)		258.8
Additions to property, plant, equipment and mine development	100.7		50.8		13.2		23.3		3.4		191.4

Loss from equity affiliates	—		—		—		—		60.1		60.1

Segment results for the year ended December 31, 2019 were as follows:


	Seaborne Thermal Mining		Seaborne Metallurgical Mining		Powder River Basin Mining		Other U.S. Thermal Mining		Corporate and Other		Consolidated
	(Dollars in millions)
Revenues	$	971.7	$	1,033.1	$	1,228.7	$	1,309.4	$	80.5	$	4,623.4
Adjusted EBITDA	329.4		140.2		221.2		361.4		(169.2)		883.0
Additions to property, plant, equipment and mine development	42.1		143.4		42.8		54.0		3.1		285.4

Income from equity affiliates	—		—		—		—		(3.4)		(3.4)

Segment results for the year ended December 31, 2018 were as follows:


	Seaborne Thermal Mining		Seaborne Metallurgical Mining		Powder River Basin Mining		Other U.S. Thermal Mining		Corporate and Other		Consolidated
	(Dollars in millions)
Revenues	$	1,099.2	$	1,553.0	$	1,424.8	$	1,393.0	$	111.8	$	5,581.8
Adjusted EBITDA	452.0		441.4		284.5		290.6		(80.6)		1,387.9
Additions to property, plant, equipment and mine development	66.6		88.7		81.0		60.5		4.2		301.0
Federal coal lease expenditures	—		—		—		0.5		—		0.5
Income from equity affiliates	—		—		—		—		(68.1)		(68.1)

Reconciliation of Assets from Segment to Consolidated

Assets as of December 31, 2020 were as follows:


	Seaborne Mining		U.S. Thermal Mining		Corporate and Other		Consolidated
	(Dollars in millions)
Total assets	$	1,763.0	$	1,345.3	$	1,558.8	$	4,667.1
Property, plant, equipment and mine development, net	1,347.3		1,258.8		445.0		3,051.1
Operating lease right-of-use assets	30.8		3.5		15.6		49.9

Assets as of December 31, 2019 were as follows:


	Seaborne Mining		U.S. Thermal Mining		Corporate and Other		Consolidated
	(Dollars in millions)
Total assets	$	2,001.3	$	3,044.8	$	1,496.7	$	6,542.8
Property, plant, equipment and mine development, net	1,610.9		2,776.9		291.3		4,679.1
Operating lease right-of-use assets	32.1		30.3		20.0		82.4

Assets as of December 31, 2018 were as follows:


	Seaborne Mining		U.S. Thermal Mining		Corporate and Other		Consolidated
	(Dollars in millions)
Total assets	$	2,044.6	$	3,481.7	$	1,897.4	$	7,423.7
Property, plant, equipment and mine development, net	1,661.3		3,180.4		365.3		5,207.0

Reconciliation of Adjusted EBITDA to consolidated loss from continuing operations

A reconciliation of consolidated (loss) income from continuing operations, net of income taxes to Adjusted EBITDA follows:


	Year Ended December 31,
	2020		2019		2018
	(Dollars in millions)
(Loss) income from continuing operations, net of income taxes	$	(1,859.8)	$	(188.3)	$	645.7
Depreciation, depletion and amortization	346.0		601.0		679.0
Asset retirement obligation expenses	45.7		58.4		53.0
Restructuring charges	37.9		24.3		1.2
Transaction costs related to business combinations and joint ventures	23.1		21.6		7.4
Gain on formation of United Wambo Joint Venture	—		(48.1)		—
Asset impairment	1,487.4		270.2		—
Provision for North Goonyella equipment loss	—		83.2		66.4
North Goonyella insurance recovery - equipment (1)	—		(91.1)		—
Changes in deferred tax asset valuation allowance and reserves and amortization of basis difference related to equity affiliates	30.9		(18.8)		(18.3)
Interest expense	139.8		144.2		151.3

Interest income	(9.4)		(27.0)		(33.6)
Net mark-to-market adjustment on actuarially determined liabilities	(5.1)		67.4		(125.5)
Reorganization items, net	—		—		(12.8)



Unrealized losses (gains) on economic hedges	29.6		(42.2)		(18.3)
Unrealized (gains) losses on non-coal trading derivative contracts	(7.1)		(1.2)		0.7

Take-or-pay contract-based intangible recognition	(8.2)		(16.6)		(26.7)
Income tax provision	8.0		46.0		18.4
Total Adjusted EBITDA	$	258.8	$	883.0	$	1,387.9

(1) As described in Note 20. “Other Events,” the Company recorded a $125.0 million insurance recovery during the year ended December 31, 2019 related to losses incurred at its North Goonyella Mine. Of this amount, Adjusted EBITDA excludes an allocated amount applicable to total equipment losses recognized at the time of the insurance recovery settlement, which consisted of $24.7 million and $66.4 million recognized during the years ended December 31, 2019 and 2018, respectively. The remaining $33.9 million, applicable to incremental costs and business interruption losses, is included in Adjusted EBITDA for the year ended December 31, 2019.

Revenues as a percent of total revenue from external customers by geographic region

The following table presents revenues as a percent of total revenue from external customers by geographic region:


	Year Ended December 31,
	2020		2019		2018
U.S.	56.2	%	53.6	%	47.8	%
Japan	13.3	%	15.4	%	10.1	%
Taiwan	7.7	%	6.0	%	8.1	%
Australia	6.9	%	5.8	%	6.6	%
China	3.8	%	3.8	%	5.9	%
India	2.6	%	1.2	%	6.2	%
Vietnam	2.4	%	2.0	%	0.5	%
South Korea	0.8	%	2.9	%	3.1	%
Other	6.3	%	9.3	%	11.7	%
Total	100.0	%	100.0	%	100.0	%