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Media Release |
Seaborne Thermal | |||||||||||||||||||||||||||||
Quarter Ended | Year Ended | ||||||||||||||||||||||||||||
Dec. | Sept. | Dec. | Dec. | Dec. | |||||||||||||||||||||||||
2023 | 2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||
Tons sold (in millions) | 3.7 | 4.2 | 4.1 | 15.5 | 15.6 | ||||||||||||||||||||||||
Export | 2.6 | 2.7 | 2.3 | 10.0 | 7.9 | ||||||||||||||||||||||||
Domestic | 1.1 | 1.5 | 1.8 | 5.5 | 7.7 | ||||||||||||||||||||||||
Revenue per Ton | $ | 76.22 | $ | 71.38 | $ | 93.79 | $ | 85.94 | $ | 86.07 | |||||||||||||||||||
Export - Avg. Realized Price per Ton | 97.20 | 99.55 | 151.61 | 119.79 | 149.53 | ||||||||||||||||||||||||
Domestic - Avg. Realized Price per Ton | 30.26 | 20.92 | 22.98 | 24.73 | 21.59 | ||||||||||||||||||||||||
Costs per Ton | 49.71 | 43.68 | 43.10 | 48.66 | 44.65 | ||||||||||||||||||||||||
Adjusted EBITDA Margin per Ton | $ | 26.51 | $ | 27.70 | $ | 50.69 | $ | 37.28 | $ | 41.42 | |||||||||||||||||||
Adjusted EBITDA (in millions) | $ | 99.8 | $ | 115.5 | $ | 209.1 | $ | 576.8 | $ | 647.6 |
Seaborne Metallurgical | |||||||||||||||||||||||||||||
Quarter Ended | Year Ended | ||||||||||||||||||||||||||||
Dec. | Sept. | Dec. | Dec. | Dec. | |||||||||||||||||||||||||
2023 | 2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||
Tons sold (in millions) | 2.1 | 1.5 | 2.0 | 6.9 | 6.6 | ||||||||||||||||||||||||
Revenue per Ton | $ | 186.74 | $ | 162.02 | $ | 219.81 | $ | 188.66 | $ | 243.78 | |||||||||||||||||||
Costs per Ton | 107.89 | 110.38 | 128.14 | 125.18 | 125.92 | ||||||||||||||||||||||||
Adjusted EBITDA Margin per Ton | $ | 78.85 | $ | 51.64 | $ | 91.67 | $ | 63.48 | $ | 117.86 | |||||||||||||||||||
Adjusted EBITDA (in millions) | $ | 166.2 | $ | 78.6 | $ | 187.8 | $ | 438.1 | $ | 781.7 |
Powder River Basin | |||||||||||||||||||||||||||||
Quarter Ended | Year Ended | ||||||||||||||||||||||||||||
Dec. | Sept. | Dec. | Dec. | Dec. | |||||||||||||||||||||||||
2023 | 2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||
Tons sold (in millions) | 23.6 | 22.7 | 21.2 | 87.2 | 82.6 | ||||||||||||||||||||||||
Revenue per Ton | $ | 13.58 | $ | 13.79 | $ | 13.88 | $ | 13.74 | $ | 12.89 | |||||||||||||||||||
Costs per Ton | 11.98 | 11.41 | 12.71 | 11.98 | 12.06 | ||||||||||||||||||||||||
Adjusted EBITDA Margin per Ton | $ | 1.60 | $ | 2.38 | $ | 1.17 | $ | 1.76 | $ | 0.83 | |||||||||||||||||||
Adjusted EBITDA (in millions) | $ | 37.6 | $ | 54.1 | $ | 24.7 | $ | 153.7 | $ | 68.2 |
Other U.S. Thermal | |||||||||||||||||||||||||||||
Quarter Ended | Year Ended | ||||||||||||||||||||||||||||
Dec. | Sept. | Dec. | Dec. | Dec. | |||||||||||||||||||||||||
2023 | 2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||
Tons sold (in millions) | 3.7 | 4.2 | 5.0 | 16.2 | 18.4 | ||||||||||||||||||||||||
Revenue per Ton | $ | 57.00 | $ | 53.89 | $ | 52.35 | $ | 54.77 | $ | 51.82 | |||||||||||||||||||
Costs per Ton | 45.57 | 42.28 | 40.84 | 41.98 | 38.63 | ||||||||||||||||||||||||
Adjusted EBITDA Margin per Ton | $ | 11.43 | $ | 11.61 | $ | 11.51 | $ | 12.79 | $ | 13.19 | |||||||||||||||||||
Adjusted EBITDA (in millions) | $ | 42.3 | $ | 49.1 | $ | 57.8 | $ | 207.5 | $ | 242.4 |
Quarter Ended | Year Ended | ||||||||||
Dec. | Dec. | ||||||||||
2023 | 2023 | ||||||||||
(Dollars in millions) | |||||||||||
Cash Flow from Operations: | $ | 282.4 | $ | 1,035.5 | |||||||
- Cash Flows Used in Investing Activities | (168.0) | (342.6) | |||||||||
- Distributions to Noncontrolling Interest | (0.1) | (59.0) | |||||||||
+/- Changes to Restricted Cash and Collateral (1) | (37.8) | 90.2 | |||||||||
- Anticipated Expenditures or Other Requirements | — | — | |||||||||
Available Free Cash Flow (AFCF) | $ | 76.5 | $ | 724.1 | |||||||
Minimum Allocated for Shareholder Returns (65%) | $ | 470.7 | |||||||||
- Shares Repurchased (16.1 million shares) | (350.0) | ||||||||||
- Dividends Paid (2) | (30.6) | ||||||||||
- Dividends Declared (3) | (9.7) | ||||||||||
Remaining Amount Available for Additional Share Repurchases | $ | 80.4 | |||||||||
(1) This amount is equal to the total change in Restricted Cash and Collateral on the balance sheet, excluding partially offsetting amounts already included in cash flow from operations of $54 million and $200 million for the quarter and year ended December 31, 2023, respectively and the $660 million one-time funding related to the surety program in the first quarter. (2) Does not include $0.2 million of non-cash dividend equivalent units issued. (3) Represents dividends declared that remain payable as of the date of this release. |
Segment Performance | |||||||||||||||||
2024 Full Year | |||||||||||||||||
Total Volume (millions of short tons) | Priced Volume (millions of short tons) | Priced Volume Pricing per Short Ton | Average Cost per Short Ton | ||||||||||||||
Seaborne Thermal | 15 - 16 | 6.4 | $41.75 | $45.00 - $50.00 | |||||||||||||
Seaborne Thermal (Export) | 9 - 11 | 0.6 | $181.00 | NA | |||||||||||||
Seaborne Thermal (Domestic) | 5.8 | 5.8 | $27.50 | NA | |||||||||||||
Seaborne Metallurgical | 7.5 - 8.5 | NA | NA | $110.00 - $120.00 | |||||||||||||
PRB U.S. Thermal | 80 - 87 | 85 | $13.70 | $11.75 - $12.50 | |||||||||||||
Other U.S. Thermal | 14.5 - 15.5 | 15.2 | $53.70 | $41.00 - $45.00 | |||||||||||||
Other Annual Financial Metrics ($ in millions) | |||||||||||||||||
2024 Full Year | |||||||||||||||||
SG&A | $90 | ||||||||||||||||
Total Capital Expenditures | $375 | ||||||||||||||||
Major Project Capital Expenditures | $235 | ||||||||||||||||
Sustaining Capital Expenditures | $140 | ||||||||||||||||
Wards Well Acquisition | $136 | ||||||||||||||||
ARO Cash Spend | $50 | ||||||||||||||||
Supplemental Information | |||||||||||||||||
Seaborne Thermal | 50% of unpriced export volumes are expected to price on average at Globalcoal “NEWC” levels and 50% are expected to have a higher ash content and price at 80-95% of API 5 price levels. | ||||||||||||||||
Seaborne Metallurgical | On average, Peabody's metallurgical sales are anticipated to price at 65-70% of the premium hard-coking coal index price (FOB Australia). | ||||||||||||||||
PRB and Other U.S. Thermal | PRB and Other U.S. Thermal volumes reflect volumes priced at December 31, 2023. Weighted average quality for the PRB segment 2024 volume is approximately 8670 BTU. |
Condensed Consolidated Statements of Operations (Unaudited) | ![]() | |||||||||||||||||||||||||||||||
For the Quarters Ended Dec. 31, 2023, Sept. 30, 2023 and Dec. 31, 2022 and the Years Ended Dec. 31, 2023 and 2022 | ||||||||||||||||||||||||||||||||
(In Millions, Except Per Share Data) | ||||||||||||||||||||||||||||||||
Quarter Ended | Year Ended | |||||||||||||||||||||||||||||||
Dec. | Sept. | Dec. | Dec. | Dec. | ||||||||||||||||||||||||||||
2023 | 2023 | 2022 | 2023 | 2022 | ||||||||||||||||||||||||||||
Tons Sold | 33.2 | 32.6 | 32.5 | 126.2 | 123.7 | |||||||||||||||||||||||||||
Revenue | $ | 1,235.0 | $ | 1,078.9 | $ | 1,626.1 | $ | 4,946.7 | $ | 4,981.9 | ||||||||||||||||||||||
Operating Costs and Expenses (1) | 872.8 | 803.7 | 927.8 | 3,385.1 | 3,290.8 | |||||||||||||||||||||||||||
Depreciation, Depletion and Amortization | 82.2 | 82.3 | 90.2 | 321.4 | 317.6 | |||||||||||||||||||||||||||
Asset Retirement Obligation Expenses | 4.2 | 15.4 | 8.6 | 50.5 | 49.4 | |||||||||||||||||||||||||||
Selling and Administrative Expenses | 24.7 | 21.5 | 24.3 | 90.7 | 88.8 | |||||||||||||||||||||||||||
Restructuring Charges | 0.3 | 0.9 | 0.1 | 3.3 | 2.9 | |||||||||||||||||||||||||||
Other Operating (Income) Loss: | ||||||||||||||||||||||||||||||||
Net Gain on Disposals | (6.5) | (1.4) | (6.5) | (15.0) | (29.2) | |||||||||||||||||||||||||||
Asset Impairment | — | — | 9.5 | 2.0 | 11.2 | |||||||||||||||||||||||||||
Provision for NARM and Shoal Creek Losses | 3.9 | 3.3 | — | 40.9 | — | |||||||||||||||||||||||||||
Loss (Income) from Equity Affiliates | 2.8 | (5.6) | (10.3) | (6.9) | (131.2) | |||||||||||||||||||||||||||
Operating Profit | 250.6 | 158.8 | 582.4 | 1,074.7 | 1,381.6 | |||||||||||||||||||||||||||
Interest Expense | 14.3 | 13.8 | 29.5 | 59.8 | 140.3 | |||||||||||||||||||||||||||
Net Loss on Early Debt Extinguishment | — | — | 23.4 | 8.8 | 57.9 | |||||||||||||||||||||||||||
Interest Income | (20.3) | (20.3) | (12.1) | (76.8) | (18.4) | |||||||||||||||||||||||||||
Net Periodic Benefit Credit, Excluding Service Cost | (12.2) | (10.0) | (12.3) | (41.6) | (49.0) | |||||||||||||||||||||||||||
Net Mark-to-Market Adjustment on Actuarially Determined Liabilities | (0.3) | — | (27.8) | (0.3) | (27.8) | |||||||||||||||||||||||||||
Income from Continuing Operations Before Income Taxes | 269.1 | 175.3 | 581.7 | 1,124.8 | 1,278.6 | |||||||||||||||||||||||||||
Income Tax Provision (Benefit) | 70.1 | 46.5 | (59.8) | 308.8 | (38.8) | |||||||||||||||||||||||||||
Income from Continuing Operations, Net of Income Taxes | 199.0 | 128.8 | 641.5 | 816.0 | 1,317.4 | |||||||||||||||||||||||||||
(Loss) Income from Discontinued Operations, Net of Income Taxes | (0.3) | 2.5 | 4.0 | (0.4) | 1.7 | |||||||||||||||||||||||||||
Net Income | 198.7 | 131.3 | 645.5 | 815.6 | 1,319.1 | |||||||||||||||||||||||||||
Less: Net Income Attributable to Noncontrolling Interests | 6.7 | 11.4 | 13.5 | 56.0 | 22.0 | |||||||||||||||||||||||||||
Net Income Attributable to Common Stockholders | $ | 192.0 | $ | 119.9 | $ | 632.0 | $ | 759.6 | $ | 1,297.1 | ||||||||||||||||||||||
Adjusted EBITDA (2) | $ | 345.1 | $ | 270.0 | $ | 500.5 | $ | 1,363.9 | $ | 1,844.7 | ||||||||||||||||||||||
Diluted EPS - Income from Continuing Operations (3)(4) | $ | 1.33 | $ | 0.80 | $ | 3.89 | $ | 5.00 | $ | 8.29 | ||||||||||||||||||||||
Diluted EPS - Net Income Attributable to Common Stockholders (3) | $ | 1.33 | $ | 0.82 | $ | 3.92 | $ | 5.00 | $ | 8.31 | ||||||||||||||||||||||
(1) | Excludes items shown separately. | |||||||||||||||||||||||||||||||
(2) | Adjusted EBITDA is a non-GAAP financial measure. Refer to the "Reconciliation of Non-GAAP Financial Measures" section in this document for definitions and reconciliations to the most comparable measures under U.S. GAAP. | |||||||||||||||||||||||||||||||
(3) | Weighted average diluted shares outstanding were 147.2 million, 149.9 million and 161.9 million during the quarters ended December 31, 2023, September 30, 2023 and December 31, 2022, respectively. During the years ended December 31, 2023 and 2022, weighted average diluted shares outstanding were 154.3 million and 157.2 million, respectively. | |||||||||||||||||||||||||||||||
(4) | Reflects income from continuing operations, net of income taxes less net income attributable to noncontrolling interests. | |||||||||||||||||||||||||||||||
This information is intended to be reviewed in conjunction with the company's filings with the SEC. |
Condensed Consolidated Balance Sheets | ![]() | ||||||||||
As of Dec. 31, 2023 and 2022 | |||||||||||
(Dollars In Millions) | |||||||||||
(Unaudited) | |||||||||||
Dec. 31, 2023 | Dec. 31, 2022 | ||||||||||
Cash and Cash Equivalents | $ | 969.3 | $ | 1,307.3 | |||||||
Accounts Receivable, Net | 389.7 | 465.5 | |||||||||
Inventories, Net | 351.8 | 296.1 | |||||||||
Other Current Assets | 308.9 | 303.6 | |||||||||
Total Current Assets | 2,019.7 | 2,372.5 | |||||||||
Property, Plant, Equipment and Mine Development, Net | 2,844.1 | 2,865.0 | |||||||||
Operating Lease Right-of-Use Assets | 61.9 | 26.9 | |||||||||
Restricted Cash and Collateral | 957.6 | 187.4 | |||||||||
Investments and Other Assets | 78.8 | 84.3 | |||||||||
Deferred Income Taxes | — | 74.7 | |||||||||
Total Assets | $ | 5,962.1 | $ | 5,610.8 | |||||||
Current Portion of Long-Term Debt | $ | 13.5 | $ | 13.2 | |||||||
Accounts Payable and Accrued Expenses | 965.5 | 905.5 | |||||||||
Total Current Liabilities | 979.0 | 918.7 | |||||||||
Long-Term Debt, Less Current Portion | 320.7 | 320.6 | |||||||||
Deferred Income Taxes | 28.6 | 20.4 | |||||||||
Asset Retirement Obligations, Less Current Portion | 648.6 | 665.8 | |||||||||
Accrued Postretirement Benefit Costs | 148.4 | 156.5 | |||||||||
Operating Lease Liabilities, Less Current Portion | 47.7 | 11.0 | |||||||||
Other Noncurrent Liabilities | 181.6 | 223.0 | |||||||||
Total Liabilities | 2,354.6 | 2,316.0 | |||||||||
Common Stock | 1.9 | 1.9 | |||||||||
Additional Paid-in Capital | 3,983.0 | 3,975.9 | |||||||||
Treasury Stock | (1,740.2) | (1,372.9) | |||||||||
Retained Earnings | 1,112.7 | 383.9 | |||||||||
Accumulated Other Comprehensive Income | 189.6 | 242.5 | |||||||||
Peabody Energy Corporation Stockholders' Equity | 3,547.0 | 3,231.3 | |||||||||
Noncontrolling Interests | 60.5 | 63.5 | |||||||||
Total Stockholders' Equity | 3,607.5 | 3,294.8 | |||||||||
Total Liabilities and Stockholders' Equity | $ | 5,962.1 | $ | 5,610.8 | |||||||
This information is intended to be reviewed in conjunction with the company's filings with the SEC. |
Condensed Consolidated Statements of Cash Flows (Unaudited) | ![]() | ||||||||||||||||||||||||||||
For the Quarters Ended Dec. 31, 2023, Sept. 30, 2023 and Dec. 31, 2022 and the Years Ended Dec. 31, 2023 and 2022 | |||||||||||||||||||||||||||||
(Dollars In Millions) | |||||||||||||||||||||||||||||
Quarter Ended | Year Ended | ||||||||||||||||||||||||||||
Dec. | Sept. | Dec. | Dec. | Dec. | |||||||||||||||||||||||||
2023 | 2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||
Cash Flows From Operating Activities | |||||||||||||||||||||||||||||
Net Cash Provided By Continuing Operations | $ | 283.6 | $ | 87.5 | $ | 671.4 | $ | 1,116.3 | $ | 1,180.3 | |||||||||||||||||||
Net Cash Used in Discontinued Operations | (1.2) | (74.1) | (1.9) | (80.8) | (6.7) | ||||||||||||||||||||||||
Net Cash Provided By Operating Activities | 282.4 | 13.4 | 669.5 | 1,035.5 | 1,173.6 | ||||||||||||||||||||||||
Cash Flows From Investing Activities | |||||||||||||||||||||||||||||
Additions to Property, Plant, Equipment and Mine Development | (157.9) | (68.1) | (117.0) | (348.3) | (221.5) | ||||||||||||||||||||||||
Changes in Accrued Expenses Related to Capital Expenditures | 8.0 | 0.3 | 5.6 | 2.9 | (2.7) | ||||||||||||||||||||||||
Proceeds from Disposal of Assets, Net of Receivables | 8.9 | 1.9 | 10.0 | 22.8 | 40.6 | ||||||||||||||||||||||||
Contributions to Joint Ventures | (168.2) | (202.6) | (170.8) | (741.6) | (645.9) | ||||||||||||||||||||||||
Distributions from Joint Ventures | 142.3 | 213.6 | 166.4 | 721.7 | 631.6 | ||||||||||||||||||||||||
Advances to Related Parties | (0.4) | — | (0.2) | (0.5) | (1.5) | ||||||||||||||||||||||||
Cash Receipts from Middlemount Coal Pty Ltd and Other Related Parties | — | 0.9 | 16.9 | 2.6 | 171.8 | ||||||||||||||||||||||||
Other, Net | (0.7) | (0.6) | (0.7) | (2.2) | (1.1) | ||||||||||||||||||||||||
Net Cash Used In Investing Activities | (168.0) | (54.6) | (89.8) | (342.6) | (28.7) | ||||||||||||||||||||||||
Cash Flows From Financing Activities | |||||||||||||||||||||||||||||
Proceeds from Long-Term Debt | — | — | — | — | 545.0 | ||||||||||||||||||||||||
Repayments of Long-Term Debt | (2.1) | (2.1) | (561.1) | (9.0) | (1,407.4) | ||||||||||||||||||||||||
Payment of Debt Issuance and Other Deferred Financing Costs | — | — | — | (0.3) | (21.1) | ||||||||||||||||||||||||
Common Stock Repurchases | (83.7) | (91.0) | — | (347.7) | — | ||||||||||||||||||||||||
Proceeds from Common Stock Issuances, Net of Costs | — | — | — | — | 222.0 | ||||||||||||||||||||||||
Repurchase of Employee Common Stock Relinquished for Tax Withholding | — | — | — | (13.7) | (2.6) | ||||||||||||||||||||||||
Dividends Paid | (9.9) | (9.9) | — | (30.6) | — | ||||||||||||||||||||||||
Distributions to Noncontrolling Interests | (0.1) | (36.1) | — | (59.0) | (17.5) | ||||||||||||||||||||||||
Net Cash Used In Financing Activities | (95.8) | (139.1) | (561.1) | (460.3) | (681.6) | ||||||||||||||||||||||||
Net Change in Cash, Cash Equivalents and Restricted Cash | 18.6 | (180.3) | 18.6 | 232.6 | 463.3 | ||||||||||||||||||||||||
Cash, Cash Equivalents and Restricted Cash at Beginning of Period | 1,631.6 | 1,811.9 | 1,399.0 | 1,417.6 | 954.3 | ||||||||||||||||||||||||
Cash, Cash Equivalents and Restricted Cash at End of Period | $ | 1,650.2 | $ | 1,631.6 | $ | 1,417.6 | $ | 1,650.2 | $ | 1,417.6 | |||||||||||||||||||
This information is intended to be reviewed in conjunction with the company's filings with the SEC. |
Reconciliation of Non-GAAP Financial Measures (Unaudited) | ![]() | |||||||||||||||||||||||||||||||
For the Quarters Ended Dec. 31, 2023, Sept. 30, 2023 and Dec. 31, 2022 and the Years Ended Dec. 31, 2023 and 2022 | ||||||||||||||||||||||||||||||||
(Dollars In Millions) | ||||||||||||||||||||||||||||||||
Note: Management believes that non-GAAP performance measures are used by investors to measure our operating performance. These measures are not intended to serve as alternatives to U.S. GAAP measures of performance and may not be comparable to similarly-titled measures presented by other companies. | ||||||||||||||||||||||||||||||||
Quarter Ended | Year Ended | |||||||||||||||||||||||||||||||
Dec. | Sept. | Dec. | Dec. | Dec. | ||||||||||||||||||||||||||||
2023 | 2023 | 2022 | 2023 | 2022 | ||||||||||||||||||||||||||||
Income from Continuing Operations, Net of Income Taxes | $ | 199.0 | $ | 128.8 | $ | 641.5 | $ | 816.0 | $ | 1,317.4 | ||||||||||||||||||||||
Depreciation, Depletion and Amortization | 82.2 | 82.3 | 90.2 | 321.4 | 317.6 | |||||||||||||||||||||||||||
Asset Retirement Obligation Expenses | 4.2 | 15.4 | 8.6 | 50.5 | 49.4 | |||||||||||||||||||||||||||
Restructuring Charges | 0.3 | 0.9 | 0.1 | 3.3 | 2.9 | |||||||||||||||||||||||||||
Asset Impairment | — | — | 9.5 | 2.0 | 11.2 | |||||||||||||||||||||||||||
Provision for NARM and Shoal Creek Losses | 3.9 | 3.3 | — | 40.9 | — | |||||||||||||||||||||||||||
Changes in Amortization of Basis Difference Related to Equity Affiliates | (0.4) | (0.5) | (0.6) | (1.6) | (2.3) | |||||||||||||||||||||||||||
Interest Expense | 14.3 | 13.8 | 29.5 | 59.8 | 140.3 | |||||||||||||||||||||||||||
Net Loss on Early Debt Extinguishment | — | — | 23.4 | 8.8 | 57.9 | |||||||||||||||||||||||||||
Interest Income | (20.3) | (20.3) | (12.1) | (76.8) | (18.4) | |||||||||||||||||||||||||||
Net Mark-to-Market Adjustment on Actuarially Determined Liabilities | (0.3) | — | (27.8) | (0.3) | (27.8) | |||||||||||||||||||||||||||
Unrealized (Gains) Losses on Derivative Contracts Related to Forecasted Sales | — | — | (199.3) | (159.0) | 35.8 | |||||||||||||||||||||||||||
Unrealized (Gains) Losses on Foreign Currency Option Contracts | (7.3) | 0.5 | (2.1) | (7.4) | 2.3 | |||||||||||||||||||||||||||
Take-or-Pay Contract-Based Intangible Recognition | (0.6) | (0.7) | (0.6) | (2.5) | (2.8) | |||||||||||||||||||||||||||
Income Tax Provision (Benefit) | 70.1 | 46.5 | (59.8) | 308.8 | (38.8) | |||||||||||||||||||||||||||
Adjusted EBITDA (1) | $ | 345.1 | $ | 270.0 | $ | 500.5 | $ | 1,363.9 | $ | 1,844.7 | ||||||||||||||||||||||
Operating Costs and Expenses | $ | 872.8 | $ | 803.7 | $ | 927.8 | $ | 3,385.1 | $ | 3,290.8 | ||||||||||||||||||||||
Unrealized Gains (Losses) on Foreign Currency Option Contracts | 7.3 | (0.5) | 2.1 | 7.4 | (2.3) | |||||||||||||||||||||||||||
Take-or-Pay Contract-Based Intangible Recognition | 0.6 | 0.7 | 0.6 | 2.5 | 2.8 | |||||||||||||||||||||||||||
Net Periodic Benefit Credit, Excluding Service Cost | (12.2) | (10.0) | (12.3) | (41.6) | (49.0) | |||||||||||||||||||||||||||
Total Reporting Segment Costs (2) | $ | 868.5 | $ | 793.9 | $ | 918.2 | $ | 3,353.4 | $ | 3,242.3 | ||||||||||||||||||||||
Net Cash Provided By Operating Activities | $ | 282.4 | $ | 1,035.5 | ||||||||||||||||||||||||||||
- Net Cash Used In Investing Activities | (168.0) | (342.6) | ||||||||||||||||||||||||||||||
- Distributions to Noncontrolling Interests | (0.1) | (59.0) | ||||||||||||||||||||||||||||||
+/- Changes to Restricted Cash and Collateral | (37.8) | 90.2 | ||||||||||||||||||||||||||||||
- Anticipated Expenditures or Other Requirements | — | — | ||||||||||||||||||||||||||||||
Available Free Cash Flow (3) | $ | 76.5 | $ | 724.1 | ||||||||||||||||||||||||||||
(1) | Adjusted EBITDA is defined as income from continuing operations before deducting net interest expense, income taxes, asset retirement obligation expenses and depreciation, depletion and amortization. Adjusted EBITDA is also adjusted for the discrete items that management excluded in analyzing each of our segment's operating performance as displayed in the reconciliation above. Adjusted EBITDA is used by management as the primary metric to measure each of our segment's operating performance and allocate resources. | |||||||||||||||||||||||||||||||
(2) | Total Reporting Segment Costs is defined as operating costs and expenses adjusted for the discrete items that management excluded in analyzing each of our segment's operating performance, as displayed in the reconciliation above. Total Reporting Segment Costs is used by management as a component of a metric to measure each of our segment's operating performance. | |||||||||||||||||||||||||||||||
(3) | Available Free Cash Flow is defined as operating cash flow minus investing cash flow and distributions to noncontrolling interests; plus/minus changes to restricted cash and collateral (excluding one-time effects of the recent surety agreement amendment) and other anticipated expenditures. Available Free Cash Flow is used by management as a measure of our ability to generate excess cash flow from our business operations. | |||||||||||||||||||||||||||||||
This information is intended to be reviewed in conjunction with the company's filings with the SEC. |
Supplemental Financial Data (Unaudited) | ![]() | |||||||||||||||||||||||||||||||
For the Quarters Ended Dec. 31, 2023, Sept. 30, 2023 and Dec. 31, 2022 and the Years Ended Dec. 31, 2023 and 2022 | ||||||||||||||||||||||||||||||||
Quarter Ended | Year Ended | |||||||||||||||||||||||||||||||
Dec. | Sept. | Dec. | Dec. | Dec. | ||||||||||||||||||||||||||||
2023 | 2023 | 2022 | 2023 | 2022 | ||||||||||||||||||||||||||||
Revenue Summary (In Millions) | ||||||||||||||||||||||||||||||||
Seaborne Thermal | $ | 286.3 | $ | 297.4 | $ | 386.3 | $ | 1,329.7 | $ | 1,345.6 | ||||||||||||||||||||||
Seaborne Metallurgical | 394.0 | 247.0 | 451.1 | 1,301.9 | 1,616.9 | |||||||||||||||||||||||||||
Powder River Basin | 320.1 | 313.0 | 294.1 | 1,198.1 | 1,065.5 | |||||||||||||||||||||||||||
Other U.S. Thermal | 210.7 | 228.2 | 262.8 | 888.2 | 952.2 | |||||||||||||||||||||||||||
Total U.S. Thermal | 530.8 | 541.2 | 556.9 | 2,086.3 | 2,017.7 | |||||||||||||||||||||||||||
Corporate and Other | 23.9 | (6.7) | 231.8 | 228.8 | 1.7 | |||||||||||||||||||||||||||
Total | $ | 1,235.0 | $ | 1,078.9 | $ | 1,626.1 | $ | 4,946.7 | $ | 4,981.9 | ||||||||||||||||||||||
Total Reporting Segment Costs Summary (In Millions) (1) | ||||||||||||||||||||||||||||||||
Seaborne Thermal | $ | 186.5 | $ | 181.9 | $ | 177.2 | $ | 752.9 | $ | 698.0 | ||||||||||||||||||||||
Seaborne Metallurgical | 227.8 | 168.4 | 263.3 | 863.8 | 835.2 | |||||||||||||||||||||||||||
Powder River Basin | 282.5 | 258.9 | 269.4 | 1,044.4 | 997.3 | |||||||||||||||||||||||||||
Other U.S. Thermal | 168.4 | 179.1 | 205.0 | 680.7 | 709.8 | |||||||||||||||||||||||||||
Total U.S. Thermal | 450.9 | 438.0 | 474.4 | 1,725.1 | 1,707.1 | |||||||||||||||||||||||||||
Corporate and Other | 3.3 | 5.6 | 3.3 | 11.6 | 2.0 | |||||||||||||||||||||||||||
Total | $ | 868.5 | $ | 793.9 | $ | 918.2 | $ | 3,353.4 | $ | 3,242.3 | ||||||||||||||||||||||
Other Supplemental Financial Data (In Millions) | ||||||||||||||||||||||||||||||||
Adjusted EBITDA - Seaborne Thermal | $ | 99.8 | $ | 115.5 | $ | 209.1 | $ | 576.8 | $ | 647.6 | ||||||||||||||||||||||
Adjusted EBITDA - Seaborne Metallurgical | 166.2 | 78.6 | 187.8 | 438.1 | 781.7 | |||||||||||||||||||||||||||
Adjusted EBITDA - Powder River Basin | 37.6 | 54.1 | 24.7 | 153.7 | 68.2 | |||||||||||||||||||||||||||
Adjusted EBITDA - Other U.S. Thermal | 42.3 | 49.1 | 57.8 | 207.5 | 242.4 | |||||||||||||||||||||||||||
Adjusted EBITDA - Total U.S. Thermal | 79.9 | 103.2 | 82.5 | 361.2 | 310.6 | |||||||||||||||||||||||||||
Middlemount | (0.5) | 7.7 | 10.9 | 13.2 | 132.8 | |||||||||||||||||||||||||||
Resource Management Results (2) | 9.6 | 3.1 | 6.8 | 21.0 | 29.3 | |||||||||||||||||||||||||||
Selling and Administrative Expenses | (24.7) | (21.5) | (24.3) | (90.7) | (88.8) | |||||||||||||||||||||||||||
Other Operating Costs, Net (3) | 14.8 | (16.6) | 27.7 | 44.3 | 31.5 | |||||||||||||||||||||||||||
Adjusted EBITDA (1) | $ | 345.1 | $ | 270.0 | $ | 500.5 | $ | 1,363.9 | $ | 1,844.7 | ||||||||||||||||||||||
(1) | Total Reporting Segment Costs and Adjusted EBITDA are non-GAAP financial measures. Refer to the "Reconciliation of Non-GAAP Financial Measures" section in this document for definitions and reconciliations to the most comparable measures under U.S. GAAP. | |||||||||||||||||||||||||||||||
(2) | Includes gains (losses) on certain surplus coal reserve and surface land sales and property management costs and revenue. | |||||||||||||||||||||||||||||||
(3) | Includes trading and brokerage activities, costs associated with post-mining activities, minimum charges on certain transportation-related contracts, costs associated with suspended operations including the Centurion Mine and revenue of $6.7 million and $25.9 million related to the assignment of port and rail capacity during the quarter and year ended December 31, 2023, respectively. | |||||||||||||||||||||||||||||||
This information is intended to be reviewed in conjunction with the company's filings with the SEC. |