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Equity Method Investments
 3 Months Ended
Mar. 31, 2024
Equity Method Investment, Summarized Financial Information [Abstract]  
Equity Method Investments Equity Method Investments
The Company’s equity method investments include its joint venture interest in Middlemount Coal Pty Ltd (Middlemount), R3 Renewables LLC (R3) and certain other equity method investments.
The table below summarizes the book value of those investments, which are reported in “Investments and other assets” in the condensed consolidated balance sheets, and the related “Loss (income) from equity affiliates”:
Loss (Income) from Equity Affiliates
Book Value atThree Months Ended March 31,
March 31, 2024December 31, 202320242023
(Dollars in millions)
Equity method investment related to Middlemount$40.1 $42.5 $0.4 $(2.6)
Equity method investment related to R38.3 7.1 3.3 0.8 
Total equity method investments$48.4 $49.6 $3.7 $(1.8)
R3
In March 2022, the Company entered into a joint venture with unrelated partners to form R3. R3 was formed with the intent of developing various sites, including certain reclaimed mining land held by the Company in the U.S., for utility-scale photovoltaic solar generation and battery storage. The Company contributed $4.5 million and $2.0 million to R3 during the three months ended March 31, 2024 and 2023, respectively.