( X )
|
|
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
|
|
For the Fiscal Year Ended December 31, 2012
|
or
|
||
( )
|
|
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
Delaware
(State or other jurisdiction of incorporation or organization)
|
|
13-4004153
(I.R.S. Employer Identification No.)
|
701 Market Street, St. Louis, Missouri
(Address of principal executive offices)
|
|
63101
(Zip Code)
|
Title of Each Class
|
|
Name of Each Exchange on Which Registered
|
Common Stock, par value $0.01 per share
|
|
New York Stock Exchange
|
Large accelerated filer ( X )
|
Accelerated filer ( )
|
Non-accelerated filer ( )
|
Smaller reporting company ( )
|
•
|
global supply and demand for coal, including the seaborne thermal and metallurgical coal markets;
|
•
|
price volatility, particularly in higher-margin products and in our trading and brokerage businesses;
|
•
|
impact of alternative energy sources, including natural gas and renewables;
|
•
|
global steel demand and the downstream impact on metallurgical coal prices;
|
•
|
impact of weather and natural disasters on demand, production and transportation;
|
•
|
reductions and/or deferrals of purchases by major customers and ability to renew sales contracts;
|
•
|
credit and performance risks associated with customers, suppliers, contract miners, co-shippers and trading, banks and other financial counterparties;
|
•
|
geologic, equipment, permitting and operational risks related to mining;
|
•
|
transportation availability, performance and costs;
|
•
|
availability, timing of delivery and costs of key supplies, capital equipment or commodities such as diesel fuel, steel, explosives and tires;
|
•
|
impact of take-or-pay arrangements for rail and port commitments for the delivery of coal;
|
•
|
successful implementation of business strategies;
|
•
|
negotiation of labor contracts, employee relations and workforce availability;
|
•
|
changes in postretirement benefit and pension obligations and their related funding requirements;
|
•
|
replacement and development of coal reserves;
|
•
|
availability, access to and the related cost of capital and financial markets;
|
•
|
effects of changes in interest rates and currency exchange rates (primarily the Australian dollar);
|
•
|
effects of acquisitions or divestitures;
|
•
|
economic strength and political stability of countries in which we have operations or serve customers;
|
•
|
legislation, regulations and court decisions or other government actions, including, but not limited to, new environmental and mine safety requirements and changes in income tax regulations, sales-related royalties or other regulatory taxes;
|
•
|
litigation, including claims not yet asserted;
|
•
|
terrorist attacks or security threats;
|
•
|
impacts of pandemic illnesses; and
|
•
|
other factors, including those discussed in "Legal Proceedings," set forth in Part I, Item 3 of this report and "Risk Factors," set forth in Part I, Item 1A of this report.
|
|
|
Page
|
|
|
|
|
||
|
||
Note:
|
The words “we,” “our,” “Peabody” or “the Company” as used in this report, refer to Peabody Energy Corporation or its applicable subsidiary or subsidiaries. Unless otherwise noted herein, disclosures in this Annual Report on Form 10-K relate only to our continuing operations.
|
|
When used in this filing, the term "ton" refers to short or net tons, equal to 2,000 pounds (907.18 kilograms), while "tonne" refers to metric tons, equal to 2,294.62 pounds (1,000 kilograms).
|
•
|
In 2004, we acquired coal operations from RAG Coal International AC, expanding our presence in both Australia and Colorado.
|
•
|
In 2006, we further expanded our presence in Australia with the acquisition of Excel Coal Limited.
|
•
|
In 2007, we spun off Patriot Coal Corporation (Patriot), which included mines in West Virginia and Kentucky and coal reserves in the Illinois Basin and Appalachia, through a dividend of all outstanding Patriot shares.
|
•
|
In 2011, we acquired Macarthur Coal Limited (PEA-PCI), an independent coal company in Australia, which included two operating mines, a 50% equity-affiliate joint venture arrangement and several development projects.
|
1)
|
Execute the basics of best-in-class safety, operational efficiency and marketing;
|
2)
|
Capitalize on organic growth and development opportunities as warranted by global coal market conditions; and
|
3)
|
Expand our presence in high-growth global markets.
|
Segment/Mining Complex
|
|
Location
|
|
Mine
Type
|
|
Mining
Method
|
|
Coal
Type
|
|
Transport
Method
|
|
2012 Tons Sold
(In millions)
|
|
Western U.S. Mining
|
|
|
|
|
|
|
|
|
|
|
|
|
|
North Antelope Rochelle
|
|
Wright, WY
|
|
S
|
|
DL, T/S
|
|
T
|
|
R
|
|
107.7
|
|
Caballo
|
|
Gillette, WY
|
|
S
|
|
D, T/S
|
|
T
|
|
R
|
|
16.8
|
|
Rawhide
|
|
Gillette, WY
|
|
S
|
|
D, T/S
|
|
T
|
|
R
|
|
14.7
|
|
El Segundo
|
|
Grants, NM
|
|
S
|
|
T/S
|
|
T
|
|
R
|
|
8.4
|
|
Twentymile
|
|
Oak Creek, CO
|
|
U
|
|
LW
|
|
T
|
|
R, T
|
|
8.3
|
|
Kayenta
|
|
Kayenta, AZ
|
|
S
|
|
DL, T/S
|
|
T
|
|
R
|
|
7.5
|
|
Lee Ranch
|
|
Grants, NM
|
|
S
|
|
DL, T/S
|
|
T
|
|
R
|
|
0.8
|
|
Other
(1)
|
|
—
|
|
—
|
|
—
|
|
—
|
|
—
|
|
1.0
|
|
Midwestern U.S. Mining
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bear Run
|
|
Carlisle, IN
|
|
S
|
|
DL, D, T/S
|
|
T
|
|
T, R
|
|
7.7
|
|
Gateway
|
|
Coulterville, IL
|
|
U
|
|
CM
|
|
T
|
|
T, R, R/B
|
|
2.8
|
|
Francisco Underground
|
|
Francisco, IN
|
|
U
|
|
CM
|
|
T
|
|
R
|
|
2.8
|
|
Somerville Central
|
|
Oakland City, IN
|
|
S
|
|
DL, D, T/S
|
|
T
|
|
R, T/R, T/B
|
|
2.5
|
|
Cottage Grove
|
|
Equality, IL
|
|
S
|
|
D, T/S
|
|
T
|
|
T/B
|
|
2.1
|
|
Wild Boar
|
|
Lynnville, IN
|
|
S
|
|
D, T/S
|
|
T
|
|
T, R, R/B
|
|
2.0
|
|
Somerville South
(2)
|
|
Oakland City, IN
|
|
S
|
|
D, T/S
|
|
T
|
|
R, T/R, T/B
|
|
1.5
|
|
Wildcat Hills Underground
|
|
Eldorado, IL
|
|
U
|
|
CM
|
|
T
|
|
T/B
|
|
1.5
|
|
Viking — Corning Pit
|
|
Cannelburg, IN
|
|
S
|
|
D, T/S
|
|
T
|
|
T, T/R
|
|
1.3
|
|
Somerville North
(2)
|
|
Oakland City, IN
|
|
S
|
|
D, T/S
|
|
T
|
|
R, T/R, T/B
|
|
1.1
|
|
Other
(3)
|
|
—
|
|
—
|
|
—
|
|
—
|
|
—
|
|
2.1
|
|
Australian Mining
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Wilpinjong *
|
|
Wilpinjong, New South Wales
|
|
S
|
|
D, T/S
|
|
T
|
|
R, EV
|
|
12.5
|
|
North Wambo Underground
(2)
|
|
Warkworth, New South Wales
|
|
U
|
|
LW
|
|
T/P
|
|
R, EV
|
|
3.5
|
|
Wambo Open-Cut *
(2)
|
|
Warkworth, New South Wales
|
|
S
|
|
T/S
|
|
T
|
|
R, EV
|
|
3.0
|
|
Millennium *
|
|
Moranbah, Queensland
|
|
S
|
|
T/S
|
|
M/P
|
|
R, EV
|
|
3.0
|
|
North Goonyella
|
|
Glenden, Queensland
|
|
U
|
|
LW
|
|
M
|
|
R, EV
|
|
2.6
|
|
Coppabella
(4)
|
|
Moranbah, Queensland
|
|
S
|
|
DL, D, T/S
|
|
P
|
|
R, EV
|
|
2.6
|
|
Metropolitan
|
|
Helensburgh, New South Wales
|
|
U
|
|
LW
|
|
M
|
|
R, EV
|
|
2.1
|
|
Moorvale *
(4)
|
|
Moranbah, Queensland
|
|
S
|
|
T/S
|
|
M/P
|
|
R, EV
|
|
1.9
|
|
Burton *
|
|
Glenden, Queensland
|
|
S
|
|
T/S
|
|
T/M
|
|
R, EV
|
|
0.9
|
|
Eaglefield *
|
|
Glenden, Queensland
|
|
S
|
|
T/S
|
|
M
|
|
R, EV
|
|
0.9
|
|
Middlemount
(5)
|
|
Middlemount, Queensland
|
|
S
|
|
T/S
|
|
T/M/P
|
|
R, EV
|
|
—
|
|
Legend:
|
|
|
|
|
S
|
Surface Mine
|
|
R
|
Rail
|
U
|
Underground Mine
|
|
T
|
Truck
|
DL
|
Dragline
|
|
R/B
|
Rail and Barge
|
D
|
Dozer/Casting
|
|
T/B
|
Truck and Barge
|
T/S
|
Truck and Shovel
|
|
T/R
|
Truck and Rail
|
LW
|
Longwall
|
|
EV
|
Export Vessel
|
CM
|
Continuous Miner
|
|
T
|
Thermal/Steam
|
*
|
Mine is operated by a contract miner
|
|
M
|
Metallurgical
|
|
|
|
P
|
Pulverized Coal Injection
|
(1)
|
“Other” in Western U.S. Mining primarily consists of purchased coal used to satisfy certain coal supply agreements.
|
(2)
|
Represents mines in which we have non-controlling ownership interests.
|
(3)
|
Represented 2012 tons sold from our Willow Lake Mine, which commenced closure activities in November 2012. Refer to Note 3. "Asset Impairment and Mine Closure Costs" to our consolidated financial statements for additional details.
|
(4)
|
We own a 73.3% undivided interest in an unincorporated joint venture that owns the Coppabella and Moorvale mines.
|
(5)
|
We own a 50.0% equity interest in Middlemount Coal Pty Ltd., which owns the Middlemount Mine. Because that entity is accounted for as an unconsolidated equity affiliate, 2012 tons sold from that mine have been excluded from the table above.
|
Name
|
|
Age
|
|
Position
|
|
Gregory H. Boyce
|
|
58
|
|
|
Chairman and Chief Executive Officer, Director
|
Michael C. Crews
|
|
45
|
|
|
Executive Vice President and Chief Financial Officer
|
Sharon D. Fiehler
|
|
56
|
|
|
Executive Vice President and Chief Administrative Officer
|
Eric Ford
|
|
58
|
|
|
Chairman - Australia
|
Christopher J. Hagedorn
|
|
40
|
|
|
President - Asia and Trading
|
Jeane L. Hull
|
|
58
|
|
|
Executive Vice President and Chief Technical Officer
|
Charles F. Meintjes
|
|
50
|
|
|
President - Australia
|
Alexander C. Schoch
|
|
58
|
|
|
Executive Vice President Law, Chief Legal Officer and Secretary
|
Kemal Williamson
|
|
53
|
|
|
President - Americas
|
•
|
the strength of the global economy;
|
•
|
the demand for electricity;
|
•
|
the demand for steel, which may lead to price fluctuations in the periodic repricing of our metallurgical coal contracts;
|
•
|
the global supply of thermal and metallurgical coal;
|
•
|
weather patterns and natural disasters;
|
•
|
competition within our industry and the availability, quality and price of alternative fuels, including natural gas, fuel oil, nuclear, hydroelectric, wind, biomass and solar power;
|
•
|
the proximity, capacity and cost of transportation and terminal facilities;
|
•
|
coal industry capacity;
|
•
|
governmental regulations and taxes, including those establishing air emission standards for coal-fueled power plants or mandating increased use of electricity from renewable energy sources;
|
•
|
regulatory, administrative and judicial decisions, including those affecting future mining permits; and
|
•
|
technological developments, including those related to alternative energy sources, those intended to convert coal-to-liquids or gas and those aimed at capturing and storing carbon dioxide.
|
•
|
lack of availability, higher expense or unfavorable market terms of new surety bonds;
|
•
|
restrictions on the availability of collateral for current and future third-party surety bond issuers under the terms of our indentures, Credit Facility or our 2011 term loan facility (2011 Term Loan Facility);
|
•
|
the exercise by third-party surety bond issuers of their right to refuse to renew the surety; and
|
•
|
the inability to renew our Credit Facility.
|
•
|
making it more difficult for us to pay interest and satisfy our debt obligations;
|
•
|
increasing the costs of borrowing under our existing credit facilities;
|
•
|
increasing our vulnerability to general adverse economic and industry conditions;
|
•
|
requiring the dedication of a substantial portion of our cash flow from operations to the payment of principal and interest on our indebtedness, thereby reducing the availability of our cash flow to fund working capital, capital expenditures, business development or other general corporate requirements;
|
•
|
limiting our ability to obtain additional financing to fund future working capital, capital expenditures, business development or other general corporate requirements;
|
•
|
making it more difficult to obtain surety bonds, letters of credit or other financing, particularly during periods in which credit markets are weak;
|
•
|
limiting our flexibility in planning for, or reacting to, changes in our business and in the coal industry;
|
•
|
causing a decline in our credit ratings; and
|
•
|
placing us at a competitive disadvantage compared to less leveraged competitors.
|
|
|
|
|
Proven and Probable
Reserves as of
December 31, 2012
(1)
|
|||||||
|
|
|
|
Owned
Tons
|
|
Leased
Tons
|
|
Total
Tons
|
|||
Operating Regions
|
|
Locations
|
|
|
|
||||||
|
|
|
|
(Tons in millions)
|
|||||||
Midwest
|
|
Illinois, Indiana and Kentucky
|
|
2,585
|
|
|
823
|
|
|
3,408
|
|
Powder River Basin
|
|
Wyoming
|
|
28
|
|
|
3,528
|
|
|
3,556
|
|
Southwest
|
|
Arizona and New Mexico
|
|
738
|
|
|
267
|
|
|
1,005
|
|
Colorado
|
|
Colorado
|
|
44
|
|
|
160
|
|
|
204
|
|
Total United States
|
|
|
|
3,395
|
|
|
4,778
|
|
|
8,173
|
|
Australia
|
|
New South Wales
|
|
—
|
|
|
339
|
|
|
339
|
|
Australia
|
|
Queensland
|
|
—
|
|
|
773
|
|
|
773
|
|
Total Australia
|
|
|
|
—
|
|
|
1,112
|
|
|
1,112
|
|
Total Proven and Probable Coal Reserves
|
|
|
|
3,395
|
|
|
5,890
|
|
|
9,285
|
|
(1)
|
Estimated proven and probable coal reserves have been adjusted to account for estimated processing losses involved in producing a saleable coal product.
|
•
|
Proven (Measured) Reserves
— Reserves for which (a) quantity is computed from dimensions revealed in outcrops, trenches, workings or drill holes; grade and/or quality are computed from the results of detailed sampling and (b) the sites for inspection, sampling and measurement are spaced so close and the geographic character is so well defined that size, shape, depth and mineral content of reserves are well-established.
|
•
|
Probable (Indicated) Reserves
— Reserves for which quantity and grade and/or quality are computed from information similar to that used for proven (measured) reserves, but the sites for inspection, sampling and measurement are farther apart or are otherwise less adequately spaced. The degree of assurance, although lower than that for proven (measured) reserves, is high enough to assume continuity between points of observation.
|
SUMMARY OF COAL PRODUCTION AND SULFUR CONTENT OF ASSIGNED RESERVES
|
||||||||||||||||||||||
(Tons in Millions)
|
||||||||||||||||||||||
|
|
Production
|
|
|
|
Sulfur Content of Assigned Reserves as of Dec. 31, 2012
(1)
|
|
|
||||||||||||||
|
|
Year
|
|
Year
|
|
Year
|
|
|
|
<1.2 lbs.
|
|
>1.2 to 2.5 lbs.
|
|
>2.5 lbs.
|
|
As
|
||||||
|
|
Ended
|
|
Ended
|
|
Ended
|
|
|
|
Sulfur
|
|
Sulfur
|
|
Sulfur
|
|
Received
|
||||||
Geographic Region /
|
|
Dec. 31,
|
|
Dec. 31,
|
|
Dec. 31,
|
|
Type of
|
|
Dioxide per
|
|
Dioxide per
|
|
Dioxide per
|
|
Btu per
|
||||||
Mining Complex
|
|
2012
|
|
2011
|
|
2010
|
|
Coal
|
|
Million Btu
|
|
Million Btu
|
|
Million Btu
|
|
pound
(2)
|
||||||
Midwest:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Bear Run
|
|
7.9
|
|
|
6.5
|
|
|
2.8
|
|
|
T
|
|
5
|
|
|
28
|
|
|
242
|
|
|
11,500
|
Gateway
|
|
2.8
|
|
|
3.3
|
|
|
3.2
|
|
|
T
|
|
—
|
|
|
—
|
|
|
6
|
|
|
11,000
|
Francisco Underground
|
|
2.8
|
|
|
3.0
|
|
|
2.7
|
|
|
T
|
|
—
|
|
|
—
|
|
|
49
|
|
|
11,500
|
Somerville Central
|
|
2.3
|
|
|
3.0
|
|
|
3.4
|
|
|
T
|
|
—
|
|
|
—
|
|
|
5
|
|
|
11,500
|
Willow Lake (Closed in 2012)
|
|
2.1
|
|
|
2.2
|
|
|
2.9
|
|
|
T
|
|
—
|
|
|
—
|
|
|
—
|
|
|
NA
|
Cottage Grove
|
|
2.0
|
|
|
1.9
|
|
|
2.1
|
|
|
T
|
|
—
|
|
|
—
|
|
|
19
|
|
|
12,600
|
Wild Boar
|
|
2.0
|
|
|
1.8
|
|
|
0.1
|
|
|
T
|
|
—
|
|
|
—
|
|
|
13
|
|
|
11,000
|
Somerville South
|
|
1.4
|
|
|
1.2
|
|
|
1.7
|
|
|
T
|
|
—
|
|
|
—
|
|
|
6
|
|
|
11,100
|
Wildcat Hills Underground
|
|
1.5
|
|
|
1.0
|
|
|
0.8
|
|
|
T
|
|
—
|
|
|
—
|
|
|
27
|
|
|
12,100
|
Viking - Corning Pit
|
|
1.3
|
|
|
1.5
|
|
|
1.5
|
|
|
T
|
|
—
|
|
|
—
|
|
|
2
|
|
|
11,500
|
Somerville North
|
|
1.2
|
|
|
1.4
|
|
|
2.0
|
|
|
T
|
|
—
|
|
|
—
|
|
|
3
|
|
|
11,000
|
Viking - Knox Pit (Closed in 2010)
|
|
—
|
|
|
—
|
|
|
1.7
|
|
|
T
|
|
—
|
|
|
—
|
|
|
—
|
|
|
NA
|
Farmersburg (Closed in 2010)
|
|
—
|
|
|
—
|
|
|
1.5
|
|
|
T
|
|
—
|
|
|
—
|
|
|
—
|
|
|
NA
|
Total
|
|
27.3
|
|
|
26.8
|
|
|
26.4
|
|
|
|
|
5
|
|
|
28
|
|
|
372
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Powder River Basin:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
North Antelope Rochelle
|
|
107.6
|
|
|
109.1
|
|
|
105.8
|
|
|
T
|
|
2,364
|
|
|
—
|
|
|
—
|
|
|
8,800
|
Caballo
|
|
16.9
|
|
|
24.1
|
|
|
23.5
|
|
|
T
|
|
713
|
|
|
119
|
|
|
20
|
|
|
8,300
|
Rawhide
|
|
14.7
|
|
|
15.0
|
|
|
11.2
|
|
|
T
|
|
250
|
|
|
60
|
|
|
2
|
|
|
8,200
|
Total
|
|
139.2
|
|
|
148.2
|
|
|
140.5
|
|
|
|
|
3,327
|
|
|
179
|
|
|
22
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Southwest:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Kayenta
|
|
7.5
|
|
|
8.1
|
|
|
7.8
|
|
|
T
|
|
162
|
|
|
67
|
|
|
2
|
|
|
10,600
|
El Segundo
|
|
8.6
|
|
|
8.1
|
|
|
6.6
|
|
|
T
|
|
26
|
|
|
71
|
|
|
71
|
|
|
9,100
|
Lee Ranch
|
|
1.3
|
|
|
2.0
|
|
|
1.6
|
|
|
T
|
|
18
|
|
|
113
|
|
|
13
|
|
|
9,300
|
Total
|
|
17.4
|
|
|
18.2
|
|
|
16.0
|
|
|
|
|
206
|
|
|
251
|
|
|
86
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Colorado:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Twentymile
|
|
8.0
|
|
|
7.7
|
|
|
7.7
|
|
|
T
|
|
34
|
|
|
—
|
|
|
—
|
|
|
11,300
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Australia:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Wilpinjong
|
|
12.2
|
|
|
10.9
|
|
|
9.6
|
|
|
T
|
|
—
|
|
|
179
|
|
|
—
|
|
|
11,200
|
Wambo
(3)
|
|
6.6
|
|
|
5.8
|
|
|
6.6
|
|
|
T/P
|
|
124
|
|
|
—
|
|
|
—
|
|
|
12,200
|
North Goonyella / Eaglefield
|
|
4.1
|
|
|
2.2
|
|
|
3.2
|
|
|
M
|
|
121
|
|
|
—
|
|
|
—
|
|
|
12,900
|
Burton
|
|
1.2
|
|
|
2.1
|
|
|
2.5
|
|
|
T/M
|
|
14
|
|
|
—
|
|
|
—
|
|
|
12,700
|
Millennium
|
|
3.2
|
|
|
1.9
|
|
|
1.6
|
|
|
M/P
|
|
29
|
|
|
—
|
|
|
—
|
|
|
12,600
|
Metropolitan
|
|
1.8
|
|
|
1.8
|
|
|
1.6
|
|
|
M
|
|
36
|
|
|
—
|
|
|
—
|
|
|
12,600
|
Coppabella
|
|
2.8
|
|
|
0.4
|
|
|
—
|
|
|
P
|
|
55
|
|
|
—
|
|
|
—
|
|
|
12,700
|
Moorvale
|
|
1.9
|
|
|
0.3
|
|
|
—
|
|
|
M/P
|
|
18
|
|
|
—
|
|
|
—
|
|
|
12,100
|
Middlemount
(4)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
T/M/P
|
|
37
|
|
|
—
|
|
|
—
|
|
|
12,300
|
Total
|
|
33.8
|
|
|
25.4
|
|
|
25.1
|
|
|
|
|
434
|
|
|
179
|
|
|
—
|
|
|
|
Total Continuing Operations
|
|
225.7
|
|
|
226.3
|
|
|
215.7
|
|
|
|
|
4,006
|
|
|
637
|
|
|
480
|
|
|
|
Discontinued Operations
|
|
3.3
|
|
|
2.6
|
|
|
2.7
|
|
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
|
Total Assigned
|
|
229.0
|
|
|
228.9
|
|
|
218.4
|
|
|
|
|
4,006
|
|
|
637
|
|
|
480
|
|
|
|
ASSIGNED RESERVES
(5)
|
||||||||||||||||||||||||||||||||
AS OF DECEMBER 31, 2012
|
||||||||||||||||||||||||||||||||
|
|
|
|
Attributable Ownership
|
|
100% Project Basis
|
||||||||||||||||||||||||||
(Tons in Millions)
|
|
|
|
Proven and
|
|
|
|
|
|
|
|
|
|
Proven and
|
|
|
|
|
|
|
|
|
||||||||||
Geographic Region/Mining Complex
|
|
Interest
|
|
Probable Reserves
|
|
Owned
|
|
Leased
|
|
Surface
|
|
Underground
|
|
Probable Reserves
|
|
Owned
|
|
Leased
|
|
Surface
|
|
Underground
|
||||||||||
Midwest:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Bear Run
|
|
100%
|
|
275
|
|
|
125
|
|
|
150
|
|
|
275
|
|
|
—
|
|
|
275
|
|
|
125
|
|
|
150
|
|
|
275
|
|
|
—
|
|
Francisco Underground
|
|
100%
|
|
49
|
|
|
10
|
|
|
39
|
|
|
—
|
|
|
49
|
|
|
49
|
|
|
10
|
|
|
39
|
|
|
—
|
|
|
49
|
|
Wildcat Hills Underground
|
|
100%
|
|
27
|
|
|
16
|
|
|
11
|
|
|
—
|
|
|
27
|
|
|
27
|
|
|
16
|
|
|
11
|
|
|
—
|
|
|
27
|
|
Cottage Grove
|
|
100%
|
|
19
|
|
|
10
|
|
|
9
|
|
|
19
|
|
|
—
|
|
|
19
|
|
|
10
|
|
|
9
|
|
|
19
|
|
|
—
|
|
Wild Boar
|
|
100%
|
|
13
|
|
|
10
|
|
|
3
|
|
|
13
|
|
|
—
|
|
|
13
|
|
|
10
|
|
|
3
|
|
|
13
|
|
|
—
|
|
Gateway
|
|
100%
|
|
6
|
|
|
5
|
|
|
1
|
|
|
—
|
|
|
6
|
|
|
6
|
|
|
5
|
|
|
1
|
|
|
—
|
|
|
6
|
|
Somerville South
|
|
100%
|
|
6
|
|
|
5
|
|
|
1
|
|
|
6
|
|
|
—
|
|
|
6
|
|
|
5
|
|
|
1
|
|
|
6
|
|
|
—
|
|
Somerville Central
|
|
100%
|
|
5
|
|
|
4
|
|
|
1
|
|
|
5
|
|
|
—
|
|
|
5
|
|
|
4
|
|
|
1
|
|
|
5
|
|
|
—
|
|
Somerville North
|
|
100%
|
|
3
|
|
|
1
|
|
|
2
|
|
|
3
|
|
|
—
|
|
|
3
|
|
|
1
|
|
|
2
|
|
|
3
|
|
|
—
|
|
Viking - Corning Pit
|
|
100%
|
|
2
|
|
|
—
|
|
|
2
|
|
|
2
|
|
|
—
|
|
|
2
|
|
|
—
|
|
|
2
|
|
|
2
|
|
|
—
|
|
Total
|
|
|
|
405
|
|
|
186
|
|
|
219
|
|
|
323
|
|
|
82
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Powder River Basin:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
North Antelope Rochelle
|
|
100%
|
|
2,364
|
|
|
—
|
|
|
2,364
|
|
|
2,364
|
|
|
—
|
|
|
2,364
|
|
|
—
|
|
|
2,364
|
|
|
2,364
|
|
|
—
|
|
Caballo
|
|
100%
|
|
852
|
|
|
—
|
|
|
852
|
|
|
852
|
|
|
—
|
|
|
852
|
|
|
—
|
|
|
852
|
|
|
852
|
|
|
—
|
|
Rawhide
|
|
100%
|
|
312
|
|
|
—
|
|
|
312
|
|
|
312
|
|
|
—
|
|
|
312
|
|
|
—
|
|
|
312
|
|
|
312
|
|
|
—
|
|
Total
|
|
|
|
3,528
|
|
|
—
|
|
|
3,528
|
|
|
3,528
|
|
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Southwest:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Kayenta
|
|
100%
|
|
232
|
|
|
—
|
|
|
232
|
|
|
232
|
|
|
—
|
|
|
232
|
|
|
—
|
|
|
232
|
|
|
232
|
|
|
—
|
|
El Segundo
|
|
100%
|
|
167
|
|
|
154
|
|
|
13
|
|
|
167
|
|
|
—
|
|
|
167
|
|
|
154
|
|
|
13
|
|
|
167
|
|
|
—
|
|
Lee Ranch
|
|
100%
|
|
144
|
|
|
123
|
|
|
21
|
|
|
144
|
|
|
—
|
|
|
144
|
|
|
123
|
|
|
21
|
|
|
144
|
|
|
—
|
|
Total
|
|
|
|
543
|
|
|
277
|
|
|
266
|
|
|
543
|
|
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Colorado:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Twentymile
|
|
100%
|
|
34
|
|
|
7
|
|
|
27
|
|
|
—
|
|
|
34
|
|
|
34
|
|
|
7
|
|
|
27
|
|
|
—
|
|
|
34
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Australia:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Wilpinjong
|
|
100%
|
|
179
|
|
|
—
|
|
|
179
|
|
|
179
|
|
|
—
|
|
|
179
|
|
|
—
|
|
|
179
|
|
|
179
|
|
|
—
|
|
Wambo
(3)
|
|
100%
|
|
124
|
|
|
—
|
|
|
124
|
|
|
47
|
|
|
77
|
|
|
124
|
|
|
—
|
|
|
124
|
|
|
47
|
|
|
77
|
|
North Goonyella / Eaglefield
|
|
100%
|
|
121
|
|
|
—
|
|
|
121
|
|
|
3
|
|
|
118
|
|
|
121
|
|
|
—
|
|
|
121
|
|
|
3
|
|
|
118
|
|
Coppabella
|
|
73.3%
|
|
55
|
|
|
—
|
|
|
55
|
|
|
29
|
|
|
26
|
|
|
75
|
|
|
—
|
|
|
75
|
|
|
40
|
|
|
35
|
|
Millennium
|
|
100%
|
|
29
|
|
|
—
|
|
|
29
|
|
|
29
|
|
|
—
|
|
|
29
|
|
|
—
|
|
|
29
|
|
|
29
|
|
|
—
|
|
Burton
|
|
100%
|
|
14
|
|
|
—
|
|
|
14
|
|
|
14
|
|
|
—
|
|
|
14
|
|
|
—
|
|
|
14
|
|
|
14
|
|
|
—
|
|
Metropolitan
|
|
100%
|
|
36
|
|
|
—
|
|
|
36
|
|
|
—
|
|
|
36
|
|
|
36
|
|
|
—
|
|
|
36
|
|
|
—
|
|
|
36
|
|
Moorvale
|
|
73.3%
|
|
18
|
|
|
—
|
|
|
18
|
|
|
18
|
|
|
—
|
|
|
25
|
|
|
—
|
|
|
25
|
|
|
25
|
|
|
—
|
|
Middlemount
(4)
|
|
50.0%
|
|
37
|
|
|
—
|
|
|
37
|
|
|
37
|
|
|
—
|
|
|
74
|
|
|
—
|
|
|
74
|
|
|
74
|
|
|
—
|
|
Total
|
|
|
|
613
|
|
|
—
|
|
|
613
|
|
|
356
|
|
|
257
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Total Assigned
|
|
|
|
5,123
|
|
|
470
|
|
|
4,653
|
|
|
4,750
|
|
|
373
|
|
|
|
|
|
|
|
|
|
|
|
ASSIGNED AND UNASSIGNED PROVEN AND PROBABLE COAL RESERVES
|
||||||||||||||||||||||||||||||||
AS OF DECEMBER 31, 2012
|
||||||||||||||||||||||||||||||||
(Tons in Millions)
|
||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
|
|
|
Attributable Ownership
|
|
100% Project Basis
|
||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
|
|
|
|
|
|
|
Proven and
|
|
|
|
|
|
|
|
|
|
Proven and
|
|
|
|
|
||||||||||
|
|
|
|
Total Tons
|
|
Probable
|
|
|
|
|
|
Total Tons
|
|
Probable
|
|
|
|
|
||||||||||||||
Coal Seam Location
|
|
|
|
Assigned
|
|
Unassigned
|
|
Reserves
|
|
Proven
|
|
Probable
|
|
Assigned
|
|
Unassigned
|
|
Reserves
|
|
Proven
|
|
Probable
|
||||||||||
Midwest:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Illinois
|
|
|
|
52
|
|
|
2,233
|
|
|
2,285
|
|
|
1,120
|
|
|
1,165
|
|
|
52
|
|
|
2,233
|
|
|
2,285
|
|
|
1,120
|
|
|
1,165
|
|
Indiana
|
|
|
|
353
|
|
|
318
|
|
|
671
|
|
|
527
|
|
|
144
|
|
|
353
|
|
|
318
|
|
|
671
|
|
|
527
|
|
|
144
|
|
Kentucky
|
|
|
|
—
|
|
|
452
|
|
|
452
|
|
|
237
|
|
|
215
|
|
|
—
|
|
|
452
|
|
|
452
|
|
|
237
|
|
|
215
|
|
Total
|
|
|
|
405
|
|
|
3,003
|
|
|
3,408
|
|
|
1,884
|
|
|
1,524
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Powder River Basin (Wyoming)
|
|
|
|
3,528
|
|
|
28
|
|
|
3,556
|
|
|
3,208
|
|
|
348
|
|
|
3,528
|
|
|
28
|
|
|
3,556
|
|
|
3,208
|
|
|
348
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Southwest:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Arizona
|
|
|
|
232
|
|
|
—
|
|
|
232
|
|
|
232
|
|
|
—
|
|
|
232
|
|
|
—
|
|
|
232
|
|
|
232
|
|
|
—
|
|
New Mexico
|
|
|
|
311
|
|
|
462
|
|
|
773
|
|
|
718
|
|
|
55
|
|
|
311
|
|
|
462
|
|
|
773
|
|
|
718
|
|
|
55
|
|
Total
|
|
|
|
543
|
|
|
462
|
|
|
1,005
|
|
|
950
|
|
|
55
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Colorado
|
|
|
|
34
|
|
|
170
|
|
|
204
|
|
|
126
|
|
|
78
|
|
|
34
|
|
|
170
|
|
|
204
|
|
|
126
|
|
|
78
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Australia:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
New South Wales
|
|
|
|
339
|
|
|
—
|
|
|
339
|
|
|
270
|
|
|
69
|
|
|
339
|
|
|
—
|
|
|
339
|
|
|
270
|
|
|
69
|
|
Queensland
(6)
|
|
|
|
274
|
|
|
499
|
|
|
773
|
|
|
570
|
|
|
203
|
|
|
338
|
|
|
535
|
|
|
873
|
|
|
611
|
|
|
262
|
|
Total
|
|
|
|
613
|
|
|
499
|
|
|
1,112
|
|
|
840
|
|
|
272
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Total Proven and Probable
|
|
|
|
5,123
|
|
|
4,162
|
|
|
9,285
|
|
|
7,008
|
|
|
2,277
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ASSIGNED AND UNASSIGNED - RESERVE CONTROL AND MINING METHOD
|
||||||||||||||||||||||||||
AS OF DECEMBER 31, 2012
|
||||||||||||||||||||||||||
(Tons in Millions)
|
||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
|
|
|
Attributable Ownership
|
|
100% Project Basis
|
||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
|
|
|
Reserve Control
|
|
Mining Method
|
|
Reserve Control
|
|
Mining Method
|
||||||||||||||||
Coal Seam Location
|
|
|
|
Owned
|
|
Leased
|
|
Surface
|
|
Underground
|
|
Owned
|
|
Leased
|
|
Surface
|
|
Underground
|
||||||||
Midwest:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Illinois
|
|
|
|
1,916
|
|
|
369
|
|
|
76
|
|
|
2,209
|
|
|
1,916
|
|
|
369
|
|
|
76
|
|
|
2,209
|
|
Indiana
|
|
|
|
374
|
|
|
297
|
|
|
458
|
|
|
213
|
|
|
374
|
|
|
297
|
|
|
458
|
|
|
213
|
|
Kentucky
|
|
|
|
295
|
|
|
157
|
|
|
89
|
|
|
363
|
|
|
295
|
|
|
157
|
|
|
89
|
|
|
363
|
|
Total
|
|
|
|
2,585
|
|
|
823
|
|
|
623
|
|
|
2,785
|
|
|
|
|
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Powder River Basin (Wyoming)
|
|
|
|
28
|
|
|
3,528
|
|
|
3,556
|
|
|
—
|
|
|
28
|
|
|
3,528
|
|
|
3,556
|
|
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Southwest:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Arizona
|
|
|
|
—
|
|
|
232
|
|
|
232
|
|
|
—
|
|
|
—
|
|
|
232
|
|
|
232
|
|
|
—
|
|
New Mexico
|
|
|
|
738
|
|
|
35
|
|
|
745
|
|
|
28
|
|
|
738
|
|
|
35
|
|
|
745
|
|
|
28
|
|
Total
|
|
|
|
738
|
|
|
267
|
|
|
977
|
|
|
28
|
|
|
|
|
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Colorado
|
|
|
|
44
|
|
|
160
|
|
|
—
|
|
|
204
|
|
|
44
|
|
|
160
|
|
|
—
|
|
|
204
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Australia:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
New South Wales
|
|
|
|
—
|
|
|
339
|
|
|
226
|
|
|
113
|
|
|
—
|
|
|
339
|
|
|
226
|
|
|
113
|
|
Queensland
(6)
|
|
|
|
—
|
|
|
773
|
|
|
629
|
|
|
144
|
|
|
—
|
|
|
873
|
|
|
705
|
|
|
168
|
|
Total
|
|
|
|
—
|
|
|
1,112
|
|
|
855
|
|
|
257
|
|
|
|
|
|
|
|
|
|
||||
Total Proven and Probable
|
|
|
|
3,395
|
|
|
5,890
|
|
|
6,011
|
|
|
3,274
|
|
|
|
|
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ASSIGNED AND UNASSIGNED PROVEN AND PROBABLE COAL RESERVES - SULFUR CONTENT
|
|
|||||||||||||||||||||||
AS OF DECEMBER 31, 2012
|
|
|||||||||||||||||||||||
(Tons in Millions)
|
|
|||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
|
|
|
Attributable Ownership
|
|
100% Project Basis
|
|
|
|
|||||||||||||||
|
|
|
|
Sulfur Content
(1)
|
|
Sulfur Content
(1)
|
|
|
|
|||||||||||||||
|
|
|
|
<1.2 lbs.
|
|
>1.2 to 2.5 lbs.
|
|
>2.5 lbs.
|
|
<1.2 lbs.
|
|
>1.2 to 2.5 lbs.
|
|
>2.5 lbs.
|
|
As
|
|
|||||||
|
|
|
|
Sulfur Dioxide
|
|
Sulfur Dioxide
|
|
Sulfur Dioxide
|
|
Sulfur Dioxide
|
|
Sulfur Dioxide
|
|
Sulfur Dioxide
|
|
Received
|
|
|||||||
|
|
Type of
|
|
per
|
|
per
|
|
per
|
|
per
|
|
per
|
|
per
|
|
Btu
|
|
|||||||
Coal Seam Location
|
|
Coal
|
|
Million Btu
|
|
Million Btu
|
|
Million Btu
|
|
Million Btu
|
|
Million Btu
|
|
Million Btu
|
|
per Pound
(2)
|
|
|||||||
Midwest:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Illinois
|
|
T
|
|
—
|
|
|
—
|
|
|
2,285
|
|
|
—
|
|
|
—
|
|
|
2,285
|
|
|
10,300
|
|
|
Indiana
|
|
T
|
|
5
|
|
|
37
|
|
|
629
|
|
|
5
|
|
|
37
|
|
|
629
|
|
|
10,200
|
|
|
Kentucky
|
|
T
|
|
—
|
|
|
—
|
|
|
452
|
|
|
—
|
|
|
—
|
|
|
452
|
|
|
10,900
|
|
|
Total
|
|
|
|
5
|
|
|
37
|
|
|
3,366
|
|
|
|
|
|
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Powder River Basin (Wyoming)
|
|
T
|
|
3,350
|
|
|
184
|
|
|
22
|
|
|
3,350
|
|
|
184
|
|
|
22
|
|
|
8,700
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Southwest:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Arizona
|
|
T
|
|
162
|
|
|
68
|
|
|
2
|
|
|
162
|
|
|
68
|
|
|
2
|
|
|
11,000
|
|
|
New Mexico
|
|
T
|
|
159
|
|
|
382
|
|
|
232
|
|
|
159
|
|
|
382
|
|
|
232
|
|
|
9,400
|
|
|
Total
|
|
|
|
321
|
|
|
450
|
|
|
234
|
|
|
|
|
|
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Colorado
|
|
T
|
|
190
|
|
|
—
|
|
|
14
|
|
|
190
|
|
|
—
|
|
|
14
|
|
|
10,700
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Australia:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
New South Wales
|
|
T/M/P
|
|
160
|
|
|
179
|
|
|
—
|
|
|
160
|
|
|
179
|
|
|
—
|
|
|
11,800
|
|
|
Queensland
(6)
|
|
T/M/P
|
|
773
|
|
|
—
|
|
|
—
|
|
|
873
|
|
|
—
|
|
|
—
|
|
|
12,100
|
|
|
Total
|
|
|
|
933
|
|
|
179
|
|
|
—
|
|
|
|
|
|
|
|
|
|
|
||||
Total Proven and Probable
|
|
|
|
4,799
|
|
|
850
|
|
|
3,636
|
|
|
|
|
|
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1)
|
Compliance coal is defined by Phase II of the Clean Air Act as coal having sulfur dioxide content of 1.2 pounds or less per million Btu. Non-compliance coal is defined as coal having sulfur dioxide content in excess of this standard. Electricity generators are able to use coal that exceeds these specifications by using emissions reduction technology, using emissions allowance credits or blending higher sulfur coal with lower sulfur coal.
|
(2)
|
As-received Btu per pound includes the weight of moisture in the coal on an as sold basis. The range of variability of the moisture content in coal across a given region may affect the actual shipped Btu content of current production from assigned reserves.
|
(3)
|
Wambo includes the Wambo Open-Cut Mine and the North Wambo Underground Mine. The North Wambo Underground Mine produces both thermal and pulverized coal injection, or PCI metallurgical coal.
|
(4)
|
Middlemount represents our 50.0% interest in Middlemount Coal Pty Ltd., which owns the Middlemount Mine in Queensland, Australia.
|
(5)
|
Assigned reserves represent recoverable coal reserves that are controlled and accessible at active operations as of
December 31, 2012
. Unassigned reserves represent coal at currently non-producing locations that would require new mine development, mining equipment or plant facilities before operations could begin on the property.
|
(6)
|
Unassigned reserves in Queensland include approximately 146 million tons of reserves held for sale associated with our Wilkie Creek Mine.
|
|
Year Ended December 31,
|
|||||||
|
2012
|
|
2011
|
|
2010
|
|||
MSHA (U.S. coal mines)
(1)
|
3.50
|
|
|
3.76
|
|
|
3.91
|
|
|
|
|
|
|
|
|||
U.S.
(2)
|
1.28
|
|
|
1.50
|
|
|
2.05
|
|
Australia
(2)
|
2.50
|
|
|
2.77
|
|
|
4.03
|
|
Total Peabody Energy Corporation
(2)
|
1.87
|
|
|
2.00
|
|
|
2.75
|
|
|
Share Price
|
|
Dividends
|
||||||||
|
High
|
|
Low
|
|
Paid
|
||||||
2012
|
|
|
|
|
|
|
|
|
|||
First Quarter
|
$
|
38.90
|
|
|
$
|
28.83
|
|
|
$
|
0.085
|
|
Second Quarter
|
31.59
|
|
|
21.12
|
|
|
0.085
|
|
|||
Third Quarter
|
26.21
|
|
|
19.05
|
|
|
0.085
|
|
|||
Fourth Quarter
|
29.28
|
|
|
21.81
|
|
|
0.085
|
|
|||
2011
|
|
|
|
|
|
|
|
|
|||
First Quarter
|
$
|
73.73
|
|
|
$
|
57.44
|
|
|
$
|
0.085
|
|
Second Quarter
|
73.95
|
|
|
52.44
|
|
|
0.085
|
|
|||
Third Quarter
|
61.85
|
|
|
33.84
|
|
|
0.085
|
|
|||
Fourth Quarter
|
47.81
|
|
|
30.60
|
|
|
0.085
|
|
Period
|
Total
Number of
Shares
Purchased
(1)
|
|
Average
Price per Share
|
|
Total Number of
Shares Purchased
as Part of Publicly
Announced
Program
|
|
Maximum Dollar
Value that May Yet
Be Used to
Repurchase
Shares Under the
Publicly Announced
Program (In millions)
|
||||||
October 1 through October 31, 2012
|
3,121
|
|
|
$
|
22.63
|
|
|
—
|
|
|
$
|
700.4
|
|
November 1 through November 30, 2012
|
1,508
|
|
|
26.54
|
|
|
—
|
|
|
700.4
|
|
||
December 1 through December 31, 2012
|
—
|
|
|
—
|
|
|
—
|
|
|
700.4
|
|
||
Total
|
4,629
|
|
|
$
|
23.90
|
|
|
—
|
|
|
|
|
(1)
|
Represents shares withheld to cover the withholding taxes upon the vesting of restricted stock, which are not a part of the Repurchase Program.
|
|
Year Ended December 31,
|
||||||||||||||||||
|
2012
|
|
2011
|
|
2010
|
|
2009
|
|
2008
|
||||||||||
|
(In millions, except per share data)
|
||||||||||||||||||
Results of Operations Data
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Total revenues
|
$
|
8,077.5
|
|
|
$
|
7,895.9
|
|
|
$
|
6,668.2
|
|
|
$
|
5,746.4
|
|
|
$
|
6,237.6
|
|
Costs and expenses
|
7,905.0
|
|
|
6,300.2
|
|
|
5,317.1
|
|
|
4,919.6
|
|
|
4,944.3
|
|
|||||
Operating profit
|
172.5
|
|
|
1,595.7
|
|
|
1,351.1
|
|
|
826.8
|
|
|
1,293.3
|
|
|||||
Interest expense, net
|
381.1
|
|
|
219.7
|
|
|
212.4
|
|
|
193.0
|
|
|
217.1
|
|
|||||
(Loss) income from continuing operations before income taxes
|
(208.6
|
)
|
|
1,376.0
|
|
|
1,138.7
|
|
|
633.8
|
|
|
1,076.2
|
|
|||||
Income tax provision
|
262.3
|
|
|
363.2
|
|
|
313.7
|
|
|
187.8
|
|
|
163.9
|
|
|||||
(Loss) income from continuing operations, net of income taxes
|
(470.9
|
)
|
|
1,012.8
|
|
|
825.0
|
|
|
446.0
|
|
|
912.3
|
|
|||||
(Loss) income from discontinued operations, net of income taxes
|
(104.2
|
)
|
|
(66.5
|
)
|
|
(22.8
|
)
|
|
17.0
|
|
|
46.8
|
|
|||||
Net (loss) income
|
(575.1
|
)
|
|
946.3
|
|
|
802.2
|
|
|
463.0
|
|
|
959.1
|
|
|||||
Less: Net income (loss) attributable to noncontrolling interests
|
10.6
|
|
|
(11.4
|
)
|
|
28.2
|
|
|
14.8
|
|
|
6.2
|
|
|||||
Net (loss) income attributable to common stockholders
|
$
|
(585.7
|
)
|
|
$
|
957.7
|
|
|
$
|
774.0
|
|
|
$
|
448.2
|
|
|
$
|
952.9
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Basic earnings per share from continuing operations
|
$
|
(1.80
|
)
|
|
$
|
3.78
|
|
|
$
|
2.96
|
|
|
$
|
1.61
|
|
|
$
|
3.35
|
|
Diluted earnings per share from continuing operations
|
$
|
(1.80
|
)
|
|
$
|
3.77
|
|
|
$
|
2.92
|
|
|
$
|
1.60
|
|
|
$
|
3.33
|
|
Weighted average shares used in calculating basic earnings per share
|
268.0
|
|
|
269.1
|
|
|
267.0
|
|
|
265.5
|
|
|
268.9
|
|
|||||
Weighted average shares used in calculating diluted earnings per share
|
268.0
|
|
|
270.3
|
|
|
269.9
|
|
|
267.5
|
|
|
270.7
|
|
|||||
Dividends declared per share
|
$
|
0.340
|
|
|
$
|
0.340
|
|
|
$
|
0.295
|
|
|
$
|
0.250
|
|
|
$
|
0.240
|
|
Other Data
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Tons sold
|
248.5
|
|
|
249.4
|
|
|
243.1
|
|
|
239.7
|
|
|
250.6
|
|
|||||
Net cash provided by (used in) continuing operations:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Operating activities
|
$
|
1,599.8
|
|
|
$
|
1,652.1
|
|
|
$
|
1,104.5
|
|
|
$
|
1,038.6
|
|
|
$
|
1,316.5
|
|
Investing activities
|
(1,070.1
|
)
|
|
(3,737.2
|
)
|
|
(692.7
|
)
|
|
(404.2
|
)
|
|
(409.1
|
)
|
|||||
Financing activities
|
(663.3
|
)
|
|
1,678.5
|
|
|
(77.1
|
)
|
|
(104.6
|
)
|
|
(498.0
|
)
|
|||||
Adjusted EBITDA
|
1,836.5
|
|
|
2,122.6
|
|
|
1,826.5
|
|
|
1,291.2
|
|
|
1,727.7
|
|
|||||
Adjusted Income from Continuing Operations
|
238.7
|
|
|
1,011.9
|
|
|
872.9
|
|
|
543.0
|
|
|
847.1
|
|
|||||
Adjusted Diluted EPS
|
$
|
0.84
|
|
|
$
|
3.77
|
|
|
$
|
3.10
|
|
|
$
|
1.96
|
|
|
$
|
3.09
|
|
Balance Sheet Data (at period end)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Total assets
|
$
|
15,809.0
|
|
|
$
|
16,733.0
|
|
|
$
|
11,363.1
|
|
|
$
|
9,955.3
|
|
|
$
|
9,695.6
|
|
Total long-term debt (including capital leases)
|
6,252.9
|
|
|
6,657.5
|
|
|
2,750.0
|
|
|
2,752.3
|
|
|
2,793.6
|
|
|||||
Total stockholders’ equity
|
4,938.8
|
|
|
5,515.8
|
|
|
4,689.3
|
|
|
3,755.9
|
|
|
3,119.5
|
|
|
Year Ended December 31,
|
||||||||||||||||||
|
2012
|
|
2011
|
|
2010
|
|
2009
|
|
2008
|
||||||||||
|
|
|
(Dollars in millions)
|
|
|
||||||||||||||
(Loss) income from continuing operations, net of income taxes
|
$
|
(470.9
|
)
|
|
$
|
1,012.8
|
|
|
$
|
825.0
|
|
|
$
|
446.0
|
|
|
$
|
912.3
|
|
Depreciation, depletion and amortization
|
663.4
|
|
|
474.3
|
|
|
429.5
|
|
|
390.8
|
|
|
387.2
|
|
|||||
Asset retirement obligation expenses
|
67.0
|
|
|
52.6
|
|
|
45.9
|
|
|
38.9
|
|
|
47.2
|
|
|||||
Asset impairment and mine closure costs
|
929.0
|
|
|
—
|
|
|
—
|
|
|
34.7
|
|
|
—
|
|
|||||
Amortization of basis difference related to equity affiliates
|
4.6
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||
Interest expense, net
|
381.1
|
|
|
219.7
|
|
|
212.4
|
|
|
193.0
|
|
|
217.1
|
|
|||||
Income tax provision
|
262.3
|
|
|
363.2
|
|
|
313.7
|
|
|
187.8
|
|
|
163.9
|
|
|||||
Adjusted EBITDA
|
$
|
1,836.5
|
|
|
$
|
2,122.6
|
|
|
$
|
1,826.5
|
|
|
$
|
1,291.2
|
|
|
$
|
1,727.7
|
|
|
Year Ended December 31,
|
||||||||||||||||||
|
2012
|
|
2011
|
|
2010
|
|
2009
|
|
2008
|
||||||||||
|
(Dollars in millions)
|
||||||||||||||||||
(Loss) income from continuing operations, net of income taxes
|
$
|
(470.9
|
)
|
|
$
|
1,012.8
|
|
|
$
|
825.0
|
|
|
$
|
446.0
|
|
|
$
|
912.3
|
|
Asset impairment and mine closure costs
|
929.0
|
|
|
—
|
|
|
—
|
|
|
34.7
|
|
|
—
|
|
|||||
Income tax benefit related to asset impairment and mine closure costs
|
(227.3
|
)
|
|
—
|
|
|
—
|
|
|
(12.1
|
)
|
|
—
|
|
|||||
Remeasurement expense (benefit) related to foreign income tax accounts
|
7.9
|
|
|
(0.9
|
)
|
|
47.9
|
|
|
74.4
|
|
|
(65.2
|
)
|
|||||
Adjusted Income from Continuing Operations
|
$
|
238.7
|
|
|
$
|
1,011.9
|
|
|
$
|
872.9
|
|
|
$
|
543.0
|
|
|
$
|
847.1
|
|
|
Year Ended December 31,
|
||||||||||||||||||
|
2012
|
|
2011
|
|
2010
|
|
2009
|
|
2008
|
||||||||||
(Loss) income from continuing operations
|
$
|
(1.80
|
)
|
|
$
|
3.77
|
|
|
$
|
2.92
|
|
|
$
|
1.60
|
|
|
$
|
3.33
|
|
Asset impairment and mine closure costs, net of income taxes
|
2.61
|
|
|
—
|
|
|
—
|
|
|
0.08
|
|
|
—
|
|
|||||
Remeasurement expense (benefit) related to foreign income tax accounts
|
0.03
|
|
|
—
|
|
|
0.18
|
|
|
0.28
|
|
|
(0.24
|
)
|
|||||
Adjusted Diluted EPS
|
$
|
0.84
|
|
|
$
|
3.77
|
|
|
$
|
3.10
|
|
|
$
|
1.96
|
|
|
$
|
3.09
|
|
|
Year Ended December 31,
|
|
Increase (Decrease)
to Tons Sold
|
||||||||
|
2012
|
|
2011
|
|
Tons
|
|
%
|
||||
|
(Tons in millions)
|
|
|
||||||||
Australian Mining
|
33.0
|
|
|
25.3
|
|
|
7.7
|
|
|
30.4
|
%
|
Western U.S. Mining
|
165.2
|
|
|
173.6
|
|
|
(8.4
|
)
|
|
(4.8
|
)%
|
Midwestern U.S. Mining
|
27.4
|
|
|
29.1
|
|
|
(1.7
|
)
|
|
(5.8
|
)%
|
Trading and Brokerage
|
22.9
|
|
|
21.4
|
|
|
1.5
|
|
|
7.0
|
%
|
Total tons sold
|
248.5
|
|
|
249.4
|
|
|
(0.9
|
)
|
|
(0.4
|
)%
|
|
Year Ended December 31,
|
|
Increase (Decrease)
to Revenues
|
|||||||||||
|
2012
|
|
2011
|
|
$
|
|
%
|
|||||||
|
(Dollars in millions)
|
|
|
|||||||||||
Australian Mining
|
$
|
3,503.6
|
|
|
$
|
3,080.7
|
|
|
$
|
422.9
|
|
|
13.7
|
%
|
Western U.S. Mining
|
2,949.3
|
|
|
2,900.4
|
|
|
48.9
|
|
|
1.7
|
%
|
|||
Midwestern U.S. Mining
|
1,403.7
|
|
|
1,402.6
|
|
|
1.1
|
|
|
0.1
|
%
|
|||
Trading and Brokerage
|
199.9
|
|
|
475.1
|
|
|
(275.2
|
)
|
|
(57.9
|
)%
|
|||
Corporate and Other
|
21.0
|
|
|
37.1
|
|
|
(16.1
|
)
|
|
(43.4
|
)%
|
|||
Total revenues
|
$
|
8,077.5
|
|
|
$
|
7,895.9
|
|
|
$
|
181.6
|
|
|
2.3
|
%
|
|
Year Ended December 31,
|
|
Increase (Decrease) to
Segment Adjusted EBITDA
|
|||||||||||
|
2012
|
|
2011
|
|
$
|
|
%
|
|||||||
|
(Dollars in millions)
|
|
|
|||||||||||
Australian Mining
|
$
|
938.9
|
|
|
$
|
1,194.3
|
|
|
$
|
(255.4
|
)
|
|
(21.4
|
)%
|
Western U.S. Mining
|
832.8
|
|
|
766.0
|
|
|
66.8
|
|
|
8.7
|
%
|
|||
Midwestern U.S. Mining
|
427.0
|
|
|
402.9
|
|
|
24.1
|
|
|
6.0
|
%
|
|||
Trading and Brokerage
|
119.7
|
|
|
197.0
|
|
|
(77.3
|
)
|
|
(39.2
|
)%
|
|||
Total Segment Adjusted EBITDA
|
$
|
2,318.4
|
|
|
$
|
2,560.2
|
|
|
$
|
(241.8
|
)
|
|
(9.4
|
)%
|
|
Year Ended December 31,
|
|
Increase (Decrease)
to Income
|
|||||||||||
|
2012
|
|
2011
|
|
$
|
|
%
|
|||||||
|
(Dollars in millions)
|
|
|
|||||||||||
Total Segment Adjusted EBITDA
|
$
|
2,318.4
|
|
|
$
|
2,560.2
|
|
|
$
|
(241.8
|
)
|
|
(9.4
|
)%
|
Corporate and Other Adjusted EBITDA
(1)
|
(481.9
|
)
|
|
(437.6
|
)
|
|
(44.3
|
)
|
|
10.1
|
%
|
|||
Depreciation, depletion and amortization
|
(663.4
|
)
|
|
(474.3
|
)
|
|
(189.1
|
)
|
|
39.9
|
%
|
|||
Asset retirement obligation expenses
|
(67.0
|
)
|
|
(52.6
|
)
|
|
(14.4
|
)
|
|
27.4
|
%
|
|||
Asset impairment and mine closure costs
|
(929.0
|
)
|
|
—
|
|
|
(929.0
|
)
|
|
n.m.
|
|
|||
Amortization of basis difference related to equity affiliates
|
(4.6
|
)
|
|
—
|
|
|
(4.6
|
)
|
|
n.m.
|
|
|||
Interest expense
|
(405.6
|
)
|
|
(238.6
|
)
|
|
(167.0
|
)
|
|
70.0
|
%
|
|||
Interest income
|
24.5
|
|
|
18.9
|
|
|
5.6
|
|
|
29.6
|
%
|
|||
(Loss) income from continuing operations before income taxes
|
$
|
(208.6
|
)
|
|
$
|
1,376.0
|
|
|
$
|
(1,584.6
|
)
|
|
(115.2
|
)%
|
(1)
|
Corporate and Other Adjusted EBITDA results include selling and administrative expenses, equity income (loss) from our joint ventures, certain asset sales, resource management costs and revenues, coal royalty expense, costs associated with past mining activities, expenses related to our other commercial activities such as generation development and Btu Conversion costs and provisions for certain litigation.
|
|
Year Ended December 31,
|
|
Increase (Decrease)
to Income
|
|||||||||||
|
2012
|
|
2011
|
|
$
|
|
%
|
|||||||
|
(Dollars in millions)
|
|
|
|||||||||||
(Loss) income from continuing operations before income taxes
|
$
|
(208.6
|
)
|
|
$
|
1,376.0
|
|
|
$
|
(1,584.6
|
)
|
|
(115.2
|
)%
|
Income tax provision
|
262.3
|
|
|
363.2
|
|
|
100.9
|
|
|
27.8
|
%
|
|||
(Loss) income from continuing operations, net of income taxes
|
$
|
(470.9
|
)
|
|
$
|
1,012.8
|
|
|
$
|
(1,483.7
|
)
|
|
(146.5
|
)%
|
•
|
The impact of lower current year earnings, including the net tax benefit associated with asset impairment and mine closure costs ($456.8 million); and
|
•
|
The recognition of a net tax benefit in 2012 due to the restructuring of foreign operations (
$74.7 million
), comprised of a realized U.S. capital loss benefit, net of valuation allowance, and a foreign tax benefit due to the tax basis reset required upon the PEA-PCI operations joining our Australian consolidated tax group.
|
•
|
An increase in our valuation allowance against Australian loss carryforwards recognized during 2012 based on changes in the estimated future realization of those carryforwards, the assessment of which was affected by a loss utilization factor on Australian net operating losses which we expect will limit recoverability ($332.2 million);
|
•
|
A net deferred tax liability recognized in connection with the Australian minerals resource rent tax (MRRT), which was implemented in 2012 (
$77.2 million
); and
|
•
|
The impact from the remeasurement of non-U.S. tax accounts as a result of the current year strengthening of the Australian dollar compared with weakening in the prior year (
$8.8 million
), as set forth
in the table below.
|
|
December 31,
|
|
Rate Change
|
||||||||||||||||
|
2012
|
|
2011
|
|
2010
|
|
2012
|
|
2011
|
||||||||||
Australian dollar to U.S. dollar exchange rate
|
$
|
1.0384
|
|
|
$
|
1.0156
|
|
|
$
|
1.0163
|
|
|
$
|
0.0228
|
|
|
$
|
(0.0007
|
)
|
|
Year Ended December 31,
|
|
Increase (Decrease)
to EPS
|
|||||||||||
|
2012
|
|
2011
|
|
$
|
|
%
|
|||||||
Diluted EPS attributable to common stockholders:
|
|
|
|
|
|
|
|
|||||||
(Loss) income from continuing operations
|
$
|
(1.80
|
)
|
|
$
|
3.77
|
|
|
$
|
(5.57
|
)
|
|
(147.7
|
)%
|
Loss from discontinued operations
|
(0.39
|
)
|
|
(0.25
|
)
|
|
(0.14
|
)
|
|
56.0
|
%
|
|||
Net (loss) income
|
$
|
(2.19
|
)
|
|
$
|
3.52
|
|
|
$
|
(5.71
|
)
|
|
(162.2
|
)%
|
|
Year Ended December 31,
|
|
Increase (Decrease)
to EPS
|
|||||||||||
|
2012
|
|
2011
|
|
$
|
|
%
|
|||||||
Adjusted Diluted EPS Reconciliation:
|
|
|
|
|
|
|
|
|||||||
(Loss) income from continuing operations
|
$
|
(1.80
|
)
|
|
$
|
3.77
|
|
|
$
|
(5.57
|
)
|
|
(147.7
|
)%
|
Asset impairment and mine closure costs, net of income taxes
|
2.61
|
|
|
—
|
|
|
2.61
|
|
|
n/a
|
|
|||
Remeasurement expense (benefit) related to foreign income tax accounts
|
0.03
|
|
|
—
|
|
|
0.03
|
|
|
n/a
|
|
|||
Adjusted Diluted EPS
|
$
|
0.84
|
|
|
$
|
3.77
|
|
|
$
|
(2.93
|
)
|
|
(77.7
|
)%
|
|
Year Ended December 31,
|
|
Increase (Decrease)
to Tons Sold
|
||||||||
|
2011
|
|
2010
|
|
Tons
|
|
%
|
||||
|
(Tons in millions)
|
|
|
||||||||
Australian Mining
|
25.3
|
|
|
25.3
|
|
|
—
|
|
|
—
|
%
|
Western U.S. Mining
|
173.6
|
|
|
163.8
|
|
|
9.8
|
|
|
6.0
|
%
|
Midwestern U.S. Mining
|
29.1
|
|
|
28.6
|
|
|
0.5
|
|
|
1.7
|
%
|
Trading and Brokerage
|
21.4
|
|
|
25.4
|
|
|
(4.0
|
)
|
|
(15.7
|
)%
|
Total tons sold
|
249.4
|
|
|
243.1
|
|
|
6.3
|
|
|
2.6
|
%
|
|
Year Ended December 31,
|
|
Increase (Decrease)
to Revenues
|
|||||||||||
|
2011
|
|
2010
|
|
$
|
|
%
|
|||||||
|
(Dollars in millions)
|
|
|
|||||||||||
Australian Mining
|
$
|
3,080.7
|
|
|
$
|
2,399.9
|
|
|
$
|
680.8
|
|
|
28.4
|
%
|
Western U.S. Mining
|
2,900.4
|
|
|
2,706.3
|
|
|
194.1
|
|
|
7.2
|
%
|
|||
Midwestern U.S. Mining
|
1,402.6
|
|
|
1,248.9
|
|
|
153.7
|
|
|
12.3
|
%
|
|||
Trading and Brokerage
|
475.1
|
|
|
291.1
|
|
|
184.0
|
|
|
63.2
|
%
|
|||
Corporate and Other
|
37.1
|
|
|
22.0
|
|
|
15.1
|
|
|
68.6
|
%
|
|||
Total revenues
|
$
|
7,895.9
|
|
|
$
|
6,668.2
|
|
|
$
|
1,227.7
|
|
|
18.4
|
%
|
|
|
|
|
|
Increase (Decrease) to
|
|||||||||
|
Year Ended December 31,
|
|
Segment Adjusted EBITDA
|
|||||||||||
|
2011
|
|
2010
|
|
$
|
|
%
|
|||||||
|
(Dollars in millions)
|
|
|
|||||||||||
Australian Mining
|
$
|
1,194.3
|
|
|
$
|
977.4
|
|
|
$
|
216.9
|
|
|
22.2
|
%
|
Western U.S. Mining
|
766.0
|
|
|
816.7
|
|
|
(50.7
|
)
|
|
(6.2
|
)%
|
|||
Midwestern U.S. Mining
|
402.9
|
|
|
309.9
|
|
|
93.0
|
|
|
30.0
|
%
|
|||
Trading and Brokerage
|
197.0
|
|
|
77.2
|
|
|
119.8
|
|
|
155.2
|
%
|
|||
Total Segment Adjusted EBITDA
|
$
|
2,560.2
|
|
|
$
|
2,181.2
|
|
|
$
|
379.0
|
|
|
17.4
|
%
|
|
|
|
|
|
Increase (Decrease)
|
|||||||||
|
Year Ended December 31,
|
|
to Income
|
|||||||||||
|
2011
|
|
2010
|
|
$
|
|
%
|
|||||||
|
(Dollars in millions)
|
|
|
|||||||||||
Total Segment Adjusted EBITDA
|
$
|
2,560.2
|
|
|
$
|
2,181.2
|
|
|
$
|
379.0
|
|
|
17.4
|
%
|
Corporate and Other Adjusted EBITDA
(1)
|
(437.6
|
)
|
|
(354.7
|
)
|
|
(82.9
|
)
|
|
23.4
|
%
|
|||
Depreciation, depletion and amortization
|
(474.3
|
)
|
|
(429.5
|
)
|
|
(44.8
|
)
|
|
10.4
|
%
|
|||
Asset retirement obligation expense
|
(52.6
|
)
|
|
(45.9
|
)
|
|
(6.7
|
)
|
|
14.6
|
%
|
|||
Interest expense
|
(238.6
|
)
|
|
(222.0
|
)
|
|
(16.6
|
)
|
|
7.5
|
%
|
|||
Interest income
|
18.9
|
|
|
9.6
|
|
|
9.3
|
|
|
96.9
|
%
|
|||
Income from continuing operations before income taxes
|
$
|
1,376.0
|
|
|
$
|
1,138.7
|
|
|
$
|
237.3
|
|
|
20.8
|
%
|
(1)
|
Corporate and Other Adjusted EBITDA results include selling and administrative expenses, equity income (loss) from our joint ventures, certain asset sales, resource management costs and revenue, coal royalty expense, costs associated with past mining obligations, expenses related to our other commercial activities such as generation development and Btu Conversion costs and provision for certain litigation.
|
•
|
Higher 2011 expenses in support of our international expansion, acquisition activity and other growth initiatives, including $85.2 million of expenses associated with the acquisition of PEA-PCI; and
|
•
|
Lower results from equity affiliates ($17.5 million) in 2011 compared to the prior year due to losses recognized in 2011 associated with our joint venture arrangement in Australia ($7.3 million) and earnings recognized in 2010 associated with transaction services related to our Mongolian joint venture ($10.0 million); partially offset by
|
•
|
Increased gains on disposal or exchange of assets ($46.9 million) driven by 2011 non-cash exchanges of coal reserves in Kentucky and coal reserves and surface lands in Illinois for coal reserves in West Virginia ($37.7 million) and 2011 gains of $31.7 million associated with sales of non-strategic coal reserves in Kentucky and Illinois, partially offset by 2010 gains associated with non-cash exchanges of coal reserves in Kentucky and coal reserves and surface lands in Illinois for coal reserves in West Virginia ($23.7 million); and
|
•
|
A gain recorded in 2011 associated with the receipt of a $14.6 million project development fee related to our involvement in Prairie State.
|
|
Year Ended December 31,
|
|
Increase (Decrease)
to Income
|
|||||||||||
|
2011
|
|
2010
|
|
$
|
|
%
|
|||||||
|
(Dollars in millions)
|
|
|
|||||||||||
Income from continuing operations before income taxes
|
$
|
1,376.0
|
|
|
$
|
1,138.7
|
|
|
$
|
237.3
|
|
|
20.8
|
%
|
Income tax provision
|
363.2
|
|
|
313.7
|
|
|
(49.5
|
)
|
|
(15.8
|
)%
|
|||
Income from continuing operations, net of income taxes
|
$
|
1,012.8
|
|
|
$
|
825.0
|
|
|
$
|
187.8
|
|
|
22.8
|
%
|
|
December 31,
|
|
Rate Change
|
||||||||||||||||
|
2011
|
|
2010
|
|
2009
|
|
2011
|
|
2010
|
||||||||||
Australian dollar to U.S. dollar exchange rate
|
$
|
1.0156
|
|
|
$
|
1.0163
|
|
|
$
|
0.8969
|
|
|
$
|
(0.0007
|
)
|
|
$
|
0.1194
|
|
|
Year Ended December 31,
|
|
Increase (Decrease)
to Income
|
|||||||||||
|
2011
|
|
2010
|
|
$
|
|
%
|
|||||||
|
(Dollars in millions)
|
|
|
|||||||||||
Income from continuing operations, net of income taxes
|
$
|
1,012.8
|
|
|
$
|
825.0
|
|
|
$
|
187.8
|
|
|
22.8
|
%
|
Remeasurement (benefit) expense related to foreign income tax accounts
|
(0.9
|
)
|
|
47.9
|
|
|
(48.8
|
)
|
|
(101.9
|
)%
|
|||
Adjusted Income from Continuing Operations
|
$
|
1,011.9
|
|
|
$
|
872.9
|
|
|
$
|
139.0
|
|
|
15.9
|
%
|
|
Year Ended December 31,
|
|
Increase (Decrease)
to Income
|
|||||||||||
|
2011
|
|
2010
|
|
$
|
|
%
|
|||||||
|
(Dollars in millions)
|
|
|
|||||||||||
Income from continuing operations, net of income taxes
|
$
|
1,012.8
|
|
|
$
|
825.0
|
|
|
$
|
187.8
|
|
|
22.8
|
%
|
Loss income from discontinued operations, net of income taxes
|
(66.5
|
)
|
|
(22.8
|
)
|
|
(43.7
|
)
|
|
191.7
|
%
|
|||
Net income
|
946.3
|
|
|
802.2
|
|
|
144.1
|
|
|
18.0
|
%
|
|||
Net (loss) income attributable to noncontrolling interests
|
(11.4
|
)
|
|
28.2
|
|
|
39.6
|
|
|
140.4
|
%
|
|||
Net income attributable to common stockholders
|
$
|
957.7
|
|
|
$
|
774.0
|
|
|
$
|
183.7
|
|
|
23.7
|
%
|
|
Year Ended December 31,
|
|
Increase (Decrease)
to EPS
|
|||||||||||
|
2011
|
|
2010
|
|
$
|
|
%
|
|||||||
Adjusted Diluted EPS Reconciliation:
|
|
|
|
|
|
|
|
|||||||
Income from continuing operations
|
$
|
3.77
|
|
|
$
|
2.92
|
|
|
$
|
0.85
|
|
|
29.1
|
%
|
Remeasurement (benefit) expense related to foreign income tax accounts
|
—
|
|
|
0.18
|
|
|
(0.18
|
)
|
|
(100.0
|
)%
|
|||
Adjusted Diluted EPS
|
$
|
3.77
|
|
|
$
|
3.10
|
|
|
$
|
0.67
|
|
|
21.6
|
%
|
|
December 31,
|
||||||
|
2012
|
|
2011
|
||||
|
(Dollars in millions)
|
||||||
Term Loan
|
$
|
418.8
|
|
|
$
|
468.8
|
|
2011 Term Loan Facility
|
912.5
|
|
|
1,000.0
|
|
||
7.375% Senior Notes due November 2016
|
650.0
|
|
|
650.0
|
|
||
6.00% Senior Notes due November 2018
|
1,518.8
|
|
|
1,600.0
|
|
||
6.50% Senior Notes due September 2020
|
650.0
|
|
|
650.0
|
|
||
6.25% Senior Notes due November 2021
|
1,339.6
|
|
|
1,500.0
|
|
||
7.875% Senior Notes due November 2026
|
247.4
|
|
|
247.3
|
|
||
Convertible Junior Subordinated Debentures due December 2066
|
377.4
|
|
|
375.2
|
|
||
Capital lease obligations
|
104.6
|
|
|
122.8
|
|
||
Other
|
33.8
|
|
|
43.4
|
|
||
Total
|
$
|
6,252.9
|
|
|
$
|
6,657.5
|
|
|
Year Ended December 31,
|
|
Increase (Decrease) to
Cash Flow
|
|||||||||||
|
2012
|
|
2011
|
|
$
|
|
%
|
|||||||
|
(Dollars in millions)
|
|
|
|||||||||||
Net cash provided by operating activities
|
$
|
1,515.1
|
|
|
$
|
1,633.2
|
|
|
$
|
(118.1
|
)
|
|
(7.2
|
)%
|
Net cash used in investing activities
|
(1,092.1
|
)
|
|
(3,807.8
|
)
|
|
2,715.7
|
|
|
(71.3
|
)%
|
|||
Net cash (used in) provided by financing activities
|
(663.3
|
)
|
|
1,678.5
|
|
|
(2,341.8
|
)
|
|
(139.5
|
)%
|
|||
Net change in cash and cash equivalents
|
(240.3
|
)
|
|
(496.1
|
)
|
|
255.8
|
|
|
(51.6
|
)%
|
|||
Cash and cash equivalents at beginning of period
|
799.1
|
|
|
1,295.2
|
|
|
(496.1
|
)
|
|
(38.3
|
)%
|
|||
Cash and cash equivalents at end of period
|
$
|
558.8
|
|
|
$
|
799.1
|
|
|
$
|
(240.3
|
)
|
|
(30.1
|
)%
|
•
|
A year-over-year decrease in Adjusted EBITDA results;
|
•
|
Decreased utilization of our accounts receivable securitization program compared to the prior year;
|
•
|
Higher expenditures for cash interest expense due to debt added in connection with the acquisition of PEA-PCI in the fourth quarter of 2011;
|
•
|
The timing of disbursements associated with our accounts payable and certain accrued liabilities; and
|
•
|
Higher inventory builds corresponding with the impact of presently challenged global coal markets on demand; partially offset by
|
•
|
Strong accounts receivable collection in 2012 compared to 2011;
|
•
|
The monetization of
$151.8 million
of foreign currency hedge positions in the fourth quarter of 2012; and
|
•
|
Lower pension contributions required in 2012 compared to the prior year;
|
•
|
Acquisition payments of $2.8 billion disbursed in 2011 associated with our purchase of PEA-PCI;
|
•
|
Greater proceeds from the disposal of assets of $107.8 million driven by current year collections of $34.2 million on a long-term receivable related to a prior sell down of the Codrilla Mine Project by PEA-PCI into the Coppabella Moorvale Joint Venture prior to our acquisition of PEA-PCI in 2011, $21.3 million in aggregate reimbursement and true up payments received in 2012 related to our federal coal lease swap executed with Alpha and $37.2 million in proceeds received in 2012 from sale-leaseback transactions on operating equipment from our Australian Mining segment; and
|
•
|
Lower expenditures of $25.5 million related to our involvement in the Prairie State development project, which commenced commercial operations in 2012; partially offset by
|
•
|
Higher federal coal lease expenditures associated with our Western U.S. Mining operations of $234.1 million due to additional federal coal lease agreements executed in 2012.
|
•
|
Debt proceeds of $4.1 billion received in the prior year that were used, in part, to fund the PEA-PCI acquisition; and
|
•
|
Higher long-term debt payments of $151.9 million as a result of an increase in debt repurchases and voluntary debt prepayments over the prior year period, in addition to higher overall debt levels to service in 2012 due to the prior year PEA-PCI acquisition; and
|
•
|
Current year common stock repurchases of $99.9 million; partially offset by
|
•
|
Higher spend in the prior year of $1.9 billion associated with the acquisition of noncontrolling interests related to the PEA-PCI acquisition.
|
|
Payments Due By Year
|
||||||||||||||||||
|
Total
|
|
Less than
1 Year
|
|
2 - 3
Years
|
|
4 - 5
Years
|
|
More than
5 Years
|
||||||||||
|
(Dollars in millions)
|
||||||||||||||||||
Long-term debt obligations (principal and interest)
|
$
|
9,399.9
|
|
|
$
|
373.3
|
|
|
$
|
1,248.7
|
|
|
$
|
2,080.3
|
|
|
$
|
5,697.6
|
|
Capital lease obligations (principal and interest)
|
125.4
|
|
|
42.2
|
|
|
37.8
|
|
|
22.0
|
|
|
23.4
|
|
|||||
Operating lease obligations
|
677.5
|
|
|
145.1
|
|
|
245.6
|
|
|
183.9
|
|
|
102.9
|
|
|||||
Unconditional purchase obligations
(1)
|
494.6
|
|
|
457.9
|
|
|
36.7
|
|
|
—
|
|
|
—
|
|
|||||
Coal reserve lease and royalty obligations
(2)
|
1,126.1
|
|
|
282.2
|
|
|
558.4
|
|
|
257.2
|
|
|
28.3
|
|
|||||
Take or pay obligations
(3)
|
4,355.4
|
|
|
424.3
|
|
|
850.0
|
|
|
120.4
|
|
|
2,960.7
|
|
|||||
Other long-term liabilities
(4)
|
3,178.0
|
|
|
171.8
|
|
|
323.9
|
|
|
302.3
|
|
|
2,380.0
|
|
|||||
Total contractual cash obligations
|
$
|
19,356.9
|
|
|
$
|
1,896.8
|
|
|
$
|
3,301.1
|
|
|
$
|
2,966.1
|
|
|
$
|
11,192.9
|
|
(1)
|
We routinely enter into purchase agreements with approved vendors for most types of operating expenses in the ordinary course of business. Our specific open purchase orders (which have not been recognized as a liability) under these purchase agreements, combined with any other open purchase orders, are not material and though they are considered enforceable and legally binding, the related terms generally allow us the option to cancel, reschedule or adjust our requirements based on our business needs prior to the delivery of goods or performance of services. Accordingly, the commitments in the table above relate to orders to suppliers for capital purchases. These purchase obligations for capital expenditures relate to maintenance capital necessary to preserve the productive capacity of our existing mines and the selective advancement of certain late-stage growth and development projects in Australia.
|
(2)
|
Includes $1.1 billion of federal coal lease expenditures due in annual installments through 2016.
|
(3)
|
Represents various long- and short-term take or pay arrangements in the U.S. and Australia associated with rail and port commitments for the delivery of coal including amounts relating to export facilities. Also includes commitments under electricity, water and coal washing agreements with joint ventures.
|
(4)
|
Represents long-term liabilities relating to our postretirement benefit plans, work-related injuries and illnesses, defined benefit pension plans, mine reclamation and end of mine closure costs and exploration obligations.
|
|
For Year Ended December 31, 2012
|
||||||
|
One-Percentage-
Point Increase
|
|
One-Percentage-
Point Decrease
|
||||
|
(Dollars in millions)
|
||||||
Health care cost trend rate:
|
|
|
|
||||
Effect on total net periodic postretirement benefit cost
|
$
|
18.1
|
|
|
$
|
(15.6
|
)
|
Effect on total postretirement benefit obligation
|
$
|
107.5
|
|
|
$
|
(93.0
|
)
|
|
For Year Ended December 31, 2012
|
||||||
|
One-Half
Percentage-
Point Increase
|
|
One-Half
Percentage-
Point Decrease
|
||||
|
(Dollars in millions)
|
||||||
Discount rate:
|
|
|
|
||||
Effect on total net periodic postretirement benefit cost
|
$
|
(3.8
|
)
|
|
$
|
4.2
|
|
Effect on total postretirement benefit obligation
|
$
|
(52.3
|
)
|
|
$
|
59.7
|
|
|
For Year Ended December 31, 2012
|
||||||
|
One-Half
Percentage-
Point Increase
|
|
One-Half
Percentage-
Point Decrease
|
||||
|
(Dollars in millions)
|
||||||
Discount rate:
|
|
|
|
||||
Effect on total net periodic pension cost
|
$
|
(8.6
|
)
|
|
$
|
9.2
|
|
Effect on defined benefit pension plans' funded status
|
$
|
57.5
|
|
|
$
|
(62.9
|
)
|
|
|
|
|
||||
Expected return on assets:
|
|
|
|
||||
Effect on total net periodic pension cost
|
$
|
(3.9
|
)
|
|
$
|
3.9
|
|
|
|
Percentage of
|
Year of Expiration
|
|
Portfolio Total
|
2013
|
77%
|
|
2014
|
15%
|
|
2015
|
6%
|
|
2016
|
2%
|
|
|
|
100%
|
/s/ Gregory H. Boyce
|
|
/s/ Michael C. Crews
|
||
Gregory H. Boyce
Chairman and Chief Executive Officer
|
|
Michael C. Crews
Executive Vice President and
Chief Financial Officer
|
Item 9B.
|
Other Information.
|
Item 10.
|
Directors, Executive Officers and Corporate Governance.
|
Item 11.
|
Executive Compensation.
|
Item 12.
|
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.
|
|
|
(a)
Number of Securities
to be Issued
upon Exercise of
Outstanding Options,
Warrants and Rights
|
|
Weighted-Average
Exercise Price of
Outstanding Options,
Warrants and Rights
|
|
Number of Securities
Remaining Available
for Future Issuance
Under Equity
Compensation Plans
(Excluding
Securities
Reflected in Column
(a))
|
|
||||
Plan Category
|
|
|
|
|
|||||||
Equity compensation plans approved
|
|
|
|
|
|
|
|
|
|
|
|
by security holders
|
|
1,451,945
|
|
(1)
|
$
|
37.90
|
|
(2)
|
14,523,932
|
|
(3)
|
Equity compensation plans not approved
|
|
|
|
|
|
|
|
|
|
|
|
by security holders
|
|
—
|
|
|
—
|
|
|
—
|
|
|
|
Total
|
|
1,451,945
|
|
|
$
|
37.90
|
|
|
14,523,932
|
|
|
(1)
|
Includes 84,232 shares issuable pursuant to outstanding deferred stock units and 41,762 shares issuable pursuant to outstanding performance units.
|
(2)
|
The weighted-average exercise price shown in the table does not take into account outstanding deferred stock units or performance awards.
|
(3)
|
Includes 1,832,591 shares available for issuance under our U.S. Employee Stock Purchase Plan and 932,304 shares available for issuance under our Australian Employee Stock Purchase Plan.
|
Item 13.
|
Certain Relationships and Related Transactions, and Director Independence.
|
Item 14.
|
Principal Accounting Fees and Services.
|
Item 15.
|
Exhibits, Financial Statement Schedules.
|
|
Page
|
Report of Independent Registered Public Accounting Firm
|
F-1
|
Consolidated Statements of Operations — Years Ended December 31, 2012, 2011 and 2010
|
F-2
|
Consolidated Statements of Comprehensive Income — Years Ended December 31, 2012, 2011 and 2010
|
F-3
|
Consolidated Balance Sheets — December 31, 2012 and December 31, 2011
|
F-4
|
Consolidated Statements of Cash Flows — Years Ended December 31, 2012, 2011 and 2010
|
F-5
|
Consolidated Statements of Changes in Stockholders’ Equity — Years Ended December 31, 2012, 2011 and 2010
|
F-7
|
Notes to Consolidated Financial Statements
|
F-8
|
|
Page
|
Valuation and Qualifying Accounts
|
F-79
|
|
PEABODY ENERGY CORPORATION
|
|
|
|
/s/ GREGORY H. BOYCE
|
|
Gregory H. Boyce
Chairman and Chief Executive Officer
|
Signature
|
|
Title
|
|
Date
|
||
|
|
|
|
|
||
/s/ GREGORY H. BOYCE
|
|
Chairman and Chief Executive Officer,
Director (principal executive officer)
|
|
February 25, 2013
|
||
Gregory H. Boyce
|
|
|
|
|||
|
|
|
|
|
||
/s/ MICHAEL C. CREWS
|
|
Executive Vice President and Chief Financial Officer (principal financial and accounting officer)
|
|
February 25, 2013
|
||
Michael C. Crews
|
|
|
|
|||
|
|
|
|
|
||
/s/ WILLIAM A. COLEY
|
|
Director
|
|
February 25, 2013
|
||
William A. Coley
|
|
|
|
|||
|
|
|
|
|
||
/s/ WILLIAM E. JAMES
|
|
Director
|
|
February 25, 2013
|
||
William E. James
|
|
|
|
|||
|
|
|
|
|
||
/s/ ROBERT B. KARN III
|
|
Director
|
|
February 25, 2013
|
||
Robert B. Karn III
|
|
|
|
|||
|
|
|
|
|
||
/s/ M. FRANCES KEETH
|
|
Director
|
|
February 25, 2013
|
||
M. Frances Keeth
|
|
|
|
|||
|
|
|
|
|
||
/s/ HENRY E. LENTZ
|
|
Director
|
|
February 25, 2013
|
||
Henry E. Lentz
|
|
|
|
|||
|
|
|
|
|
||
/s/ ROBERT A. MALONE
|
|
Director
|
|
February 25, 2013
|
||
Robert A. Malone
|
|
|
|
|||
|
|
|
|
|
||
/s/ WILLIAM C. RUSNACK
|
|
Director
|
|
February 25, 2013
|
||
William C. Rusnack
|
|
|
|
|||
|
|
|
|
|
||
/s/ JOHN F. TURNER
|
|
Director
|
|
February 25, 2013
|
||
John F. Turner
|
|
|
|
|||
|
|
|
|
|
||
/s/ SANDRA VAN TREASE
|
|
Director
|
|
February 25, 2013
|
||
Sandra Van Trease
|
|
|
|
|||
|
|
|
|
|
||
/s/ ALAN H. WASHKOWITZ
|
|
Director
|
|
February 25, 2013
|
||
Alan H. Washkowitz
|
|
|
|
|
Year Ended December 31,
|
||||||||||
|
2012
|
|
2011
|
|
2010
|
||||||
|
(Dollars in millions, except per share data)
|
||||||||||
Revenues
|
|
|
|
|
|
|
|
|
|||
Sales
|
$
|
7,041.7
|
|
|
$
|
7,013.0
|
|
|
$
|
6,139.6
|
|
Other revenues
|
1,035.8
|
|
|
882.9
|
|
|
528.6
|
|
|||
Total revenues
|
8,077.5
|
|
|
7,895.9
|
|
|
6,668.2
|
|
|||
Costs and expenses
|
|
|
|
|
|
|
|||||
Operating costs and expenses
|
5,932.7
|
|
|
5,477.6
|
|
|
4,637.7
|
|
|||
Depreciation, depletion and amortization
|
663.4
|
|
|
474.3
|
|
|
429.5
|
|
|||
Asset retirement obligation expenses
|
67.0
|
|
|
52.6
|
|
|
45.9
|
|
|||
Selling and administrative expenses
|
268.8
|
|
|
268.2
|
|
|
232.2
|
|
|||
Acquisition costs related to Macarthur Coal Limited
|
—
|
|
|
85.2
|
|
|
—
|
|
|||
Other operating (income) loss:
|
|
|
|
|
|
||||||
Net gain on disposal or exchange of assets
|
(17.1
|
)
|
|
(76.9
|
)
|
|
(29.9
|
)
|
|||
Asset impairment and mine closure costs
|
929.0
|
|
|
—
|
|
|
—
|
|
|||
Loss from equity affiliates
|
61.2
|
|
|
19.2
|
|
|
1.7
|
|
|||
Operating profit
|
172.5
|
|
|
1,595.7
|
|
|
1,351.1
|
|
|||
Interest expense
|
405.6
|
|
|
238.6
|
|
|
222.0
|
|
|||
Interest income
|
(24.5
|
)
|
|
(18.9
|
)
|
|
(9.6
|
)
|
|||
(Loss) income from continuing operations before income taxes
|
(208.6
|
)
|
|
1,376.0
|
|
|
1,138.7
|
|
|||
Income tax provision
|
262.3
|
|
|
363.2
|
|
|
313.7
|
|
|||
(Loss) income from continuing operations, net of income taxes
|
(470.9
|
)
|
|
1,012.8
|
|
|
825.0
|
|
|||
Loss from discontinued operations, net of income taxes
|
(104.2
|
)
|
|
(66.5
|
)
|
|
(22.8
|
)
|
|||
Net (loss) income
|
(575.1
|
)
|
|
946.3
|
|
|
802.2
|
|
|||
Less: Net income (loss) attributable to noncontrolling interests
|
10.6
|
|
|
(11.4
|
)
|
|
28.2
|
|
|||
Net (loss) income attributable to common stockholders
|
$
|
(585.7
|
)
|
|
$
|
957.7
|
|
|
$
|
774.0
|
|
|
|
|
|
|
|
||||||
(Loss) income from continuing operations
|
|
|
|
|
|
||||||
Basic (loss) earnings per share
|
$
|
(1.80
|
)
|
|
$
|
3.78
|
|
|
$
|
2.96
|
|
Diluted (loss) earnings per share
|
$
|
(1.80
|
)
|
|
$
|
3.77
|
|
|
$
|
2.92
|
|
Net (loss) income attributable to common stockholders
|
|
|
|
|
|
||||||
Basic (loss) earnings per share
|
$
|
(2.19
|
)
|
|
$
|
3.53
|
|
|
$
|
2.88
|
|
Diluted (loss) earnings per share
|
$
|
(2.19
|
)
|
|
$
|
3.52
|
|
|
$
|
2.84
|
|
|
|
|
|
|
|
||||||
Dividends declared per share
|
$
|
0.340
|
|
|
$
|
0.340
|
|
|
$
|
0.295
|
|
|
Year Ended December 31,
|
||||||||||
|
2012
|
|
2011
|
|
2010
|
||||||
|
(Dollars in millions)
|
||||||||||
Net (loss) income
|
$
|
(575.1
|
)
|
|
$
|
946.3
|
|
|
$
|
802.2
|
|
Other comprehensive (loss) income, net of income taxes:
|
|
|
|
|
|
||||||
Net change in unrealized gains (losses) on available-for-sale securities (net of $4.0 tax provision for 2012 and $3.9 tax benefit for 2011)
|
|
|
|
|
|
||||||
Unrealized holding losses on available-for-sale securities
|
(15.5
|
)
|
|
(5.8
|
)
|
|
—
|
|
|||
Less: Reclassification for realized losses (gains) included in net income
|
22.5
|
|
|
(0.9
|
)
|
|
—
|
|
|||
Net change in unrealized gains (losses) on available-for-sale securities
|
7.0
|
|
|
(6.7
|
)
|
|
—
|
|
|||
Net unrealized gains on cash flow hedges (net of $3.9 and $6.2 tax benefit for 2012 and 2011, respectively and $129.5 tax provision for 2010)
|
|
|
|
|
|
||||||
Increase in fair value of cash flow hedges
|
350.4
|
|
|
291.9
|
|
|
229.9
|
|
|||
Less: Reclassification for realized gains included in net income
|
(298.6
|
)
|
|
(251.0
|
)
|
|
(102.4
|
)
|
|||
Net unrealized gains on cash flow hedges
|
51.8
|
|
|
40.9
|
|
|
127.5
|
|
|||
Postretirement plans and workers' compensation obligations (net of $43.9 tax provision for 2012 and $63.4 and $2.1 tax benefit for 2011 and 2010, respectively)
|
|
|
|
|
|
||||||
Prior service cost (credit) for the period
|
20.1
|
|
|
0.9
|
|
|
(4.9
|
)
|
|||
Net actuarial loss for the period
|
—
|
|
|
(150.1
|
)
|
|
(41.3
|
)
|
|||
Amortization of actuarial loss and prior service cost
|
55.4
|
|
|
40.5
|
|
|
34.3
|
|
|||
Postretirement plan and workers' compensation obligations
|
75.5
|
|
|
(108.7
|
)
|
|
(11.9
|
)
|
|||
Foreign currency translation adjustment
|
19.1
|
|
|
—
|
|
|
—
|
|
|||
Other comprehensive income (loss), net of income taxes
|
153.4
|
|
|
(74.5
|
)
|
|
115.6
|
|
|||
Comprehensive (loss) income
|
(421.7
|
)
|
|
871.8
|
|
|
917.8
|
|
|||
Less: Comprehensive income (loss) attributable to noncontrolling interests
|
10.6
|
|
|
(11.4
|
)
|
|
28.2
|
|
|||
Comprehensive (loss) income attributable to common stockholders
|
$
|
(432.3
|
)
|
|
$
|
883.2
|
|
|
$
|
889.6
|
|
|
December 31,
|
||||||
|
2012
|
|
2011
|
||||
|
(Amounts in millions,
except per share data)
|
||||||
ASSETS
|
|
|
|
||||
Current assets
|
|
|
|
|
|
||
Cash and cash equivalents
|
$
|
558.8
|
|
|
$
|
799.1
|
|
Accounts receivable, net of allowance for doubtful accounts of $13.7 at December 31, 2012 and $17.0 at December 31, 2011
|
737.8
|
|
|
922.5
|
|
||
Inventories
|
548.4
|
|
|
444.4
|
|
||
Assets from coal trading activities, net
|
52.4
|
|
|
44.6
|
|
||
Deferred income taxes
|
56.4
|
|
|
27.3
|
|
||
Other current assets
|
621.7
|
|
|
768.0
|
|
||
Total current assets
|
2,575.5
|
|
|
3,005.9
|
|
||
Property, plant, equipment and mine development
|
|
|
|
|
|
||
Land and coal interests
|
10,947.7
|
|
|
10,630.5
|
|
||
Buildings and improvements
|
1,321.3
|
|
|
1,084.2
|
|
||
Machinery and equipment
|
3,162.2
|
|
|
2,857.3
|
|
||
Less: accumulated depreciation, depletion and amortization
|
(3,629.5
|
)
|
|
(3,320.4
|
)
|
||
Property, plant, equipment and mine development, net
|
11,801.7
|
|
|
11,251.6
|
|
||
Investments and other assets
|
1,431.8
|
|
|
2,475.5
|
|
||
Total assets
|
$
|
15,809.0
|
|
|
$
|
16,733.0
|
|
LIABILITIES AND STOCKHOLDERS’ EQUITY
|
|
|
|
||||
Current liabilities
|
|
|
|
|
|
||
Current maturities of long-term debt
|
$
|
47.8
|
|
|
$
|
101.1
|
|
Liabilities from coal trading activities, net
|
19.4
|
|
|
10.3
|
|
||
Accounts payable and accrued expenses
|
1,606.9
|
|
|
1,712.3
|
|
||
Total current liabilities
|
1,674.1
|
|
|
1,823.7
|
|
||
Long-term debt, less current maturities
|
6,205.1
|
|
|
6,556.4
|
|
||
Deferred income taxes
|
577.3
|
|
|
523.2
|
|
||
Asset retirement obligations
|
687.5
|
|
|
615.2
|
|
||
Accrued postretirement benefit costs
|
960.7
|
|
|
1,053.1
|
|
||
Other noncurrent liabilities
|
765.5
|
|
|
645.6
|
|
||
Total liabilities
|
10,870.2
|
|
|
11,217.2
|
|
||
Stockholders’ equity
|
|
|
|
|
|
||
Preferred Stock — $0.01 per share par value; 10.0 shares authorized, no shares issued or outstanding as of December 31, 2012 or December 31, 2011
|
—
|
|
|
—
|
|
||
Series A Junior Participating Preferred Stock - $0.01 per share par value; no shares authorized as of December 31, 2012 and 1.5 shares authorized as of December 31, 2011; no shares issued or outstanding as of December 31, 2012 or December 31, 2011
|
n.a.
|
|
|
—
|
|
||
Perpetual Preferred Stock — 0.8 shares authorized, no shares issued or outstanding as of December 31, 2012 or December 31, 2011
|
—
|
|
|
—
|
|
||
Series Common Stock — $0.01 per share par value; 40.0 shares authorized, no shares issued or outstanding as of December 31, 2012 or December 31, 2011
|
—
|
|
|
—
|
|
||
Common Stock — $0.01 per share par value; 800.0 shares authorized, 282.3 shares issued and 268.6 shares outstanding as of December 31, 2012 and 280.3 shares issued and 271.1 shares outstanding as of December 31, 2011
|
2.8
|
|
|
2.8
|
|
||
Additional paid-in capital
|
2,286.3
|
|
|
2,234.0
|
|
||
Retained earnings
|
3,066.4
|
|
|
3,744.0
|
|
||
Accumulated other comprehensive income (loss)
|
11.0
|
|
|
(142.4
|
)
|
||
Treasury shares, at cost: 13.7 shares as of December 31, 2012 and 9.2 shares as of December 31, 2011
|
(461.6
|
)
|
|
(353.3
|
)
|
||
Peabody Energy Corporation’s stockholders’ equity
|
4,904.9
|
|
|
5,485.1
|
|
||
Noncontrolling interests
|
33.9
|
|
|
30.7
|
|
||
Total stockholders’ equity
|
4,938.8
|
|
|
5,515.8
|
|
||
Total liabilities and stockholders’ equity
|
$
|
15,809.0
|
|
|
$
|
16,733.0
|
|
|
Year Ended December 31,
|
||||||||||
|
2012
|
|
2011
|
|
2010
|
||||||
|
(Dollars in millions)
|
||||||||||
Cash Flows From Operating Activities
|
|
|
|
|
|
|
|
|
|||
Net (loss) income
|
$
|
(575.1
|
)
|
|
$
|
946.3
|
|
|
$
|
802.2
|
|
Loss from discontinued operations, net of income taxes
|
104.2
|
|
|
66.5
|
|
|
22.8
|
|
|||
(Loss) income from continuing operations, net of income taxes
|
(470.9
|
)
|
|
1,012.8
|
|
|
825.0
|
|
|||
Adjustments to reconcile (loss) income from continuing operations, net of income
|
|
|
|
|
|
|
|
|
|||
taxes to net cash provided by operating activities:
|
|
|
|
|
|
|
|
|
|||
Depreciation, depletion and amortization
|
663.4
|
|
|
474.3
|
|
|
429.5
|
|
|||
Noncash interest expense
|
20.7
|
|
|
15.5
|
|
|
12.8
|
|
|||
Deferred income taxes
|
(2.6
|
)
|
|
180.6
|
|
|
69.0
|
|
|||
Share-based compensation
|
45.4
|
|
|
43.9
|
|
|
41.1
|
|
|||
Asset impairment and mine closure costs
|
929.0
|
|
|
—
|
|
|
—
|
|
|||
Net gain on disposal or exchange of assets
|
(17.1
|
)
|
|
(76.9
|
)
|
|
(29.9
|
)
|
|||
Loss from equity affiliates
|
61.2
|
|
|
19.2
|
|
|
1.7
|
|
|||
Changes in current assets and liabilities:
|
|
|
|
|
|
|
|
|
|||
Accounts receivable
|
285.3
|
|
|
(221.0
|
)
|
|
(149.4
|
)
|
|||
Change in receivable from accounts receivable securitization program
|
(125.0
|
)
|
|
—
|
|
|
(104.6
|
)
|
|||
Inventories
|
(112.9
|
)
|
|
(50.4
|
)
|
|
(8.5
|
)
|
|||
Net assets from coal trading activities
|
125.2
|
|
|
172.4
|
|
|
(109.6
|
)
|
|||
Other current assets
|
10.3
|
|
|
(27.4
|
)
|
|
(28.5
|
)
|
|||
Accounts payable and accrued expenses
|
(117.1
|
)
|
|
83.3
|
|
|
222.9
|
|
|||
Monetization of foreign currency hedge positions
|
151.8
|
|
|
—
|
|
|
—
|
|
|||
Asset retirement obligations
|
46.4
|
|
|
30.4
|
|
|
29.9
|
|
|||
Workers’ compensation obligations
|
9.4
|
|
|
10.4
|
|
|
(8.9
|
)
|
|||
Accrued postretirement benefit costs
|
38.9
|
|
|
35.4
|
|
|
23.1
|
|
|||
Pension costs
|
34.1
|
|
|
31.1
|
|
|
23.3
|
|
|||
Contributions to pension plans
|
(1.7
|
)
|
|
(46.7
|
)
|
|
(112.6
|
)
|
|||
Other, net
|
26.0
|
|
|
(34.8
|
)
|
|
(21.8
|
)
|
|||
Net cash provided by continuing operations
|
1,599.8
|
|
|
1,652.1
|
|
|
1,104.5
|
|
|||
Net cash used in discontinued operations
|
(84.7
|
)
|
|
(18.9
|
)
|
|
(17.4
|
)
|
|||
Net cash provided by operating activities
|
1,515.1
|
|
|
1,633.2
|
|
|
1,087.1
|
|
|||
Cash Flows From Investing Activities
|
|
|
|
|
|
|
|
|
|||
Additions to property, plant, equipment and mine development
|
(986.0
|
)
|
|
(847.4
|
)
|
|
(546.0
|
)
|
|||
Changes in accrued expenses related to capital expenditures
|
104.7
|
|
|
51.2
|
|
|
—
|
|
|||
Federal coal lease expenditures
|
(276.5
|
)
|
|
(42.4
|
)
|
|
—
|
|
|||
Investment in Prairie State Energy Campus
|
(10.7
|
)
|
|
(36.2
|
)
|
|
(76.0
|
)
|
|||
Proceeds from disposal of assets, net of notes receivable
|
147.9
|
|
|
40.1
|
|
|
19.1
|
|
|||
Investments in equity affiliates and joint ventures
|
—
|
|
|
(39.7
|
)
|
|
(18.8
|
)
|
|||
Purchases of debt and equity securities
|
(46.7
|
)
|
|
(147.7
|
)
|
|
(74.6
|
)
|
|||
Proceeds from sales of debt and equity securities
|
46.4
|
|
|
104.6
|
|
|
12.4
|
|
|||
Purchases of short-term investments
|
(4.8
|
)
|
|
(100.0
|
)
|
|
—
|
|
|||
Maturity of short-term investments
|
—
|
|
|
100.0
|
|
|
—
|
|
|||
Acquisition of Macarthur Coal Limited, net of cash acquired
|
—
|
|
|
(2,756.7
|
)
|
|
—
|
|
|||
Contributions to joint ventures
|
(824.0
|
)
|
|
(145.4
|
)
|
|
—
|
|
|||
Distributions from joint ventures
|
823.0
|
|
|
128.6
|
|
|
—
|
|
|||
Advances to related parties
|
(148.0
|
)
|
|
(371.3
|
)
|
|
—
|
|
|||
Repayment of loans from related parties
|
110.8
|
|
|
331.7
|
|
|
—
|
|
|||
Other, net
|
(6.2
|
)
|
|
(6.6
|
)
|
|
(8.8
|
)
|
|||
Net cash used in continuing operations
|
(1,070.1
|
)
|
|
(3,737.2
|
)
|
|
(692.7
|
)
|
|||
Net cash used in discontinued operations
|
(22.0
|
)
|
|
(70.6
|
)
|
|
(10.9
|
)
|
|||
Net cash used in investing activities
|
(1,092.1
|
)
|
|
(3,807.8
|
)
|
|
(703.6
|
)
|
|
Year Ended December 31,
|
||||||||||
|
2012
|
|
2011
|
|
2010
|
||||||
|
(Dollars in millions)
|
||||||||||
Cash Flows From Financing Activities
|
|
|
|
|
|
|
|
|
|||
Repayments of long-term debt
|
$
|
(415.8
|
)
|
|
$
|
(263.9
|
)
|
|
$
|
(1,167.3
|
)
|
Proceeds from long-term debt
|
0.8
|
|
|
4,101.4
|
|
|
1,150.0
|
|
|||
Payment of debt issuance costs
|
(6.9
|
)
|
|
(61.5
|
)
|
|
(32.2
|
)
|
|||
Dividends paid
|
(91.9
|
)
|
|
(92.1
|
)
|
|
(79.4
|
)
|
|||
Common stock repurchase
|
(99.9
|
)
|
|
—
|
|
|
—
|
|
|||
Repurchase of employee common stock relinquished for tax withholding
|
(8.4
|
)
|
|
(18.7
|
)
|
|
(13.5
|
)
|
|||
Excess tax benefits related to share-based compensation
|
8.3
|
|
|
8.1
|
|
|
51.0
|
|
|||
Acquisition of MCG Coal Holdings Pty Ltd noncontrolling interests
|
(49.8
|
)
|
|
—
|
|
|
—
|
|
|||
Acquisition of PEAMCoal Pty Ltd noncontrolling interests
|
—
|
|
|
(1,994.8
|
)
|
|
—
|
|
|||
Other, net
|
0.3
|
|
|
—
|
|
|
14.3
|
|
|||
Net cash (used in) provided by financing activities
|
(663.3
|
)
|
|
1,678.5
|
|
|
(77.1
|
)
|
|||
Net change in cash and cash equivalents
|
(240.3
|
)
|
|
(496.1
|
)
|
|
306.4
|
|
|||
Cash and cash equivalents at beginning of year
|
799.1
|
|
|
1,295.2
|
|
|
988.8
|
|
|||
Cash and cash equivalents at end of year
|
$
|
558.8
|
|
|
$
|
799.1
|
|
|
$
|
1,295.2
|
|
|
Peabody Energy Corporation’s Stockholders’ Equity
|
|
|
|
|
||||||||||||||||||||||
|
Common
Stock
|
|
Additional
Paid-in
Capital
|
|
Treasury
Stock
|
|
Retained
Earnings
|
|
Accumulated
Other
Comprehensive
(Loss) Income
|
|
Noncontrolling
Interests
|
|
Total
Stockholders’
Equity
|
||||||||||||||
|
(Dollars in millions)
|
||||||||||||||||||||||||||
December 31, 2009
|
$
|
2.8
|
|
|
$
|
2,067.7
|
|
|
$
|
(321.1
|
)
|
|
$
|
2,183.8
|
|
|
$
|
(183.5
|
)
|
|
$
|
6.2
|
|
|
$
|
3,755.9
|
|
Net income
|
—
|
|
|
—
|
|
|
—
|
|
|
774.0
|
|
|
—
|
|
|
28.2
|
|
|
802.2
|
|
|||||||
Net unrealized gains on cash flow hedges (net of $129.5 tax provision)
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
127.5
|
|
|
—
|
|
|
127.5
|
|
|||||||
Postretirement plans and workers’ compensation obligations (net of $2.1 tax benefit)
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(11.9
|
)
|
|
—
|
|
|
(11.9
|
)
|
|||||||
Dividends paid
|
—
|
|
|
—
|
|
|
—
|
|
|
(79.4
|
)
|
|
—
|
|
|
—
|
|
|
(79.4
|
)
|
|||||||
Share-based compensation
|
—
|
|
|
41.1
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
41.1
|
|
|||||||
Excess tax benefits related to share-based compensation
|
—
|
|
|
51.0
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
51.0
|
|
|||||||
Stock options exercised
|
—
|
|
|
16.4
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
16.4
|
|
|||||||
Employee stock purchases
|
—
|
|
|
5.8
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
5.8
|
|
|||||||
Repurchase of employee common stock relinquished for tax withholding
|
—
|
|
|
—
|
|
|
(13.5
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(13.5
|
)
|
|||||||
Distributions to noncontrolling interests
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(5.8
|
)
|
|
(5.8
|
)
|
|||||||
December 31, 2010
|
$
|
2.8
|
|
|
$
|
2,182.0
|
|
|
$
|
(334.6
|
)
|
|
$
|
2,878.4
|
|
|
$
|
(67.9
|
)
|
|
$
|
28.6
|
|
|
$
|
4,689.3
|
|
Net income (loss)
|
—
|
|
|
—
|
|
|
—
|
|
|
957.7
|
|
|
—
|
|
|
(11.4
|
)
|
|
946.3
|
|
|||||||
Net change in unrealized losses on available-for-sale securities (net of $3.9 tax benefit)
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(6.7
|
)
|
|
—
|
|
|
(6.7
|
)
|
|||||||
Net unrealized gains on cash flow hedges (net of $6.2 tax benefit)
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
40.9
|
|
|
—
|
|
|
40.9
|
|
|||||||
Postretirement plans and workers’ compensation obligations (net of $63.4 tax benefit)
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(108.7
|
)
|
|
—
|
|
|
(108.7
|
)
|
|||||||
Dividends paid
|
—
|
|
|
—
|
|
|
—
|
|
|
(92.1
|
)
|
|
—
|
|
|
—
|
|
|
(92.1
|
)
|
|||||||
Share-based compensation
|
—
|
|
|
43.9
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
43.9
|
|
|||||||
Excess tax benefits related to share-based compensation
|
—
|
|
|
8.1
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
8.1
|
|
|||||||
Stock options exercised
|
—
|
|
|
4.8
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
4.8
|
|
|||||||
Employee stock purchases
|
—
|
|
|
6.3
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
6.3
|
|
|||||||
Repurchase of employee common stock relinquished for tax withholding
|
—
|
|
|
—
|
|
|
(18.7
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(18.7
|
)
|
|||||||
Macarthur Coal Limited noncontrolling interests at control date
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
2,011.9
|
|
|
2,011.9
|
|
|||||||
Acquisitions of PEAMCoal Pty Ltd noncontrolling interests
|
—
|
|
|
(11.1
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(1,983.7
|
)
|
|
(1,994.8
|
)
|
|||||||
Distributions to noncontrolling interests
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(15.9
|
)
|
|
(15.9
|
)
|
|||||||
Contributions from noncontrolling interests
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1.2
|
|
|
1.2
|
|
|||||||
December 31, 2011
|
$
|
2.8
|
|
|
$
|
2,234.0
|
|
|
$
|
(353.3
|
)
|
|
$
|
3,744.0
|
|
|
$
|
(142.4
|
)
|
|
$
|
30.7
|
|
|
$
|
5,515.8
|
|
Net (loss) income
|
—
|
|
|
—
|
|
|
—
|
|
|
(585.7
|
)
|
|
—
|
|
|
10.6
|
|
|
(575.1
|
)
|
|||||||
Net change in unrealized gains on available-for-sale-securities (net of $4.0 tax provision)
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
7.0
|
|
|
—
|
|
|
7.0
|
|
|||||||
Net unrealized gains on cash flow hedges (net of $3.9 tax benefit)
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
51.8
|
|
|
—
|
|
|
51.8
|
|
|||||||
Postretirement plans and workers compensation obligations (net of $43.9 tax provision)
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
75.5
|
|
|
—
|
|
|
75.5
|
|
|||||||
Foreign currency translation adjustment
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
19.1
|
|
|
—
|
|
|
19.1
|
|
|||||||
Dividends paid
|
—
|
|
|
—
|
|
|
—
|
|
|
(91.9
|
)
|
|
—
|
|
|
—
|
|
|
(91.9
|
)
|
|||||||
Share-based compensation
|
—
|
|
|
45.4
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
45.4
|
|
|||||||
Excess tax benefits related to share-based compensation
|
—
|
|
|
8.3
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
8.3
|
|
|||||||
Stock options exercised
|
—
|
|
|
2.4
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
2.4
|
|
|||||||
Employee stock purchases
|
—
|
|
|
7.0
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
7.0
|
|
|||||||
Repurchase of employee common stock relinquished for tax withholding
|
—
|
|
|
—
|
|
|
(8.4
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(8.4
|
)
|
|||||||
Common stock repurchase
|
—
|
|
|
—
|
|
|
(99.9
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(99.9
|
)
|
|||||||
MCG Coal Holdings Pty Ltd noncontrolling interests at conversion
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
39.0
|
|
|
39.0
|
|
|||||||
Acquisition of MCG Coal Holdings Pty Ltd noncontrolling interests
|
—
|
|
|
(10.8
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(39.0
|
)
|
|
(49.8
|
)
|
|||||||
Distributions to noncontrolling interests
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(7.4
|
)
|
|
(7.4
|
)
|
|||||||
December 31, 2012
|
$
|
2.8
|
|
|
$
|
2,286.3
|
|
|
$
|
(461.6
|
)
|
|
$
|
3,066.4
|
|
|
$
|
11.0
|
|
|
$
|
33.9
|
|
|
$
|
4,938.8
|
|
(1)
|
Summary of Significant Accounting Policies
|
|
|
|
Years
|
|
Building and improvements
|
|
|
4 to 29
|
|
Plant and equipment
|
|
|
3 to 43
|
|
Leasehold improvements
|
|
|
Shorter of Useful Life or Remaining Life of Lease
|
|
|
Book Value at December 31,
|
|
Loss from Equity
Affiliates for the Year Ended
December 31,
|
||||||||||||||||
|
2012
|
|
2011
|
|
2012
|
|
2011
|
|
2010
|
||||||||||
|
(Dollars in millions)
|
||||||||||||||||||
Equity interest in Middlemount Coal Pty Ltd
|
$
|
295.9
|
|
|
$
|
449.7
|
|
|
$
|
52.1
|
|
|
$
|
7.3
|
|
|
$
|
—
|
|
Other equity method investments
|
2.7
|
|
|
76.9
|
|
|
9.1
|
|
|
11.9
|
|
|
1.7
|
|
|||||
Total equity method investments
|
$
|
298.6
|
|
|
$
|
526.6
|
|
|
$
|
61.2
|
|
|
$
|
19.2
|
|
|
$
|
1.7
|
|
(2)
|
Acquisition of Macarthur Coal Limited
|
|
Preliminary Purchase Price Allocations
|
|
Provisional Adjustments
|
|
Final Purchase Price Allocations
|
||||||
|
(Dollars in Millions)
|
||||||||||
Accounts receivable, net
|
$
|
106.6
|
|
|
$
|
7.8
|
|
|
$
|
114.4
|
|
Inventories
|
67.1
|
|
|
(11.4
|
)
|
|
55.7
|
|
|||
Other current assets
|
137.5
|
|
|
(3.9
|
)
|
|
133.6
|
|
|||
Property, plant, equipment and mine development
|
3,457.0
|
|
|
442.0
|
|
|
3,899.0
|
|
|||
Investments and other assets
|
1,275.1
|
|
|
(394.0
|
)
|
|
881.1
|
|
|||
Current maturities of long-term debt
|
(11.0
|
)
|
|
—
|
|
|
(11.0
|
)
|
|||
Accounts payable and accrued expenses
|
(133.8
|
)
|
|
(21.9
|
)
|
|
(155.7
|
)
|
|||
Long-term debt, less current maturities
|
(59.2
|
)
|
|
—
|
|
|
(59.2
|
)
|
|||
Asset retirement obligations
|
(39.3
|
)
|
|
(9.5
|
)
|
|
(48.8
|
)
|
|||
Other noncurrent liabilities
|
(31.4
|
)
|
|
(9.1
|
)
|
|
(40.5
|
)
|
|||
Noncontrolling interests
|
(2,011.9
|
)
|
|
—
|
|
|
(2,011.9
|
)
|
|||
Total purchase price, net of cash acquired of $261.2
|
$
|
2,756.7
|
|
|
$
|
—
|
|
|
$
|
2,756.7
|
|
|
Year Ended December 31,
|
||||||
|
2011
|
|
2010
|
||||
|
(Dollars in millions, except earnings per share)
|
||||||
Revenue
|
$
|
8,618.0
|
|
|
$
|
7,387.7
|
|
Income from continuing operations, net of income taxes
|
1,305.7
|
|
|
1,002.4
|
|
||
Basic earnings per share
|
$
|
3.55
|
|
|
$
|
2.65
|
|
Diluted earnings per share
|
3.55
|
|
|
2.65
|
|
(3)
|
Asset Impairment and Mine Closure Costs
|
|
|
Reportable Segment
|
|
|
||||||||||||||||
|
|
Australian
Mining
|
|
Western
U.S. Mining
|
|
Midwestern
U.S. Mining
|
|
Corporate
and Other
|
|
Consolidated
|
||||||||||
|
|
(Dollars in millions)
|
||||||||||||||||||
Charges related to mine closures:
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Impairment of long-lived assets
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
26.9
|
|
|
$
|
—
|
|
|
$
|
26.9
|
|
Acceleration of asset retirement obligations
|
|
—
|
|
|
—
|
|
|
7.1
|
|
|
—
|
|
|
7.1
|
|
|||||
Employee termination benefits
|
|
—
|
|
|
—
|
|
|
6.7
|
|
|
—
|
|
|
6.7
|
|
|||||
Other
|
|
—
|
|
|
—
|
|
|
4.3
|
|
|
—
|
|
|
4.3
|
|
|||||
Other asset impairment charges:
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Long-lived assets held and used
|
|
806.7
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
806.7
|
|
|||||
Marketable securities
|
|
—
|
|
|
—
|
|
|
—
|
|
|
35.5
|
|
|
35.5
|
|
|||||
Cost method investments
|
|
—
|
|
|
—
|
|
|
—
|
|
|
39.4
|
|
|
39.4
|
|
|||||
Other
|
|
—
|
|
|
2.4
|
|
|
—
|
|
|
—
|
|
|
2.4
|
|
|||||
Total
|
|
$
|
806.7
|
|
|
$
|
2.4
|
|
|
$
|
45.0
|
|
|
$
|
74.9
|
|
|
$
|
929.0
|
|
(4)
|
Discontinued Operations
|
|
|
Year Ended December 31,
|
||||||||||
|
|
2012
|
|
2011
|
|
2010
|
||||||
|
|
(Dollars in millions)
|
||||||||||
Total revenues
|
|
$
|
229.1
|
|
|
$
|
200.1
|
|
|
$
|
277.5
|
|
|
|
|
|
|
|
|
||||||
Loss from Discontinued operations before income taxes
|
|
$
|
(163.9
|
)
|
|
$
|
(88.8
|
)
|
|
$
|
(30.2
|
)
|
Income tax benefit
|
|
59.7
|
|
|
22.3
|
|
|
7.4
|
|
|||
Loss from Discontinued operations, net of income taxes
|
|
$
|
(104.2
|
)
|
|
$
|
(66.5
|
)
|
|
$
|
(22.8
|
)
|
|
|
December 31,
|
||||||
|
|
2012
|
|
2011
|
||||
|
|
(Dollars in millions)
|
||||||
Assets:
|
|
|
|
|
||||
Other current assets
|
|
$
|
37.5
|
|
|
$
|
24.6
|
|
Investments and other assets
|
|
140.8
|
|
|
232.2
|
|
||
Total assets classified as discontinued operations
|
|
$
|
178.3
|
|
|
$
|
256.8
|
|
|
|
|
|
|
||||
Liabilities:
|
|
|
|
|
||||
Accounts payable and accrued expenses
|
|
$
|
33.3
|
|
|
$
|
63.9
|
|
Other noncurrent liabilities
|
|
27.1
|
|
|
59.6
|
|
||
Total liabilities classified as discontinued operations
|
|
$
|
60.4
|
|
|
$
|
123.5
|
|
(5)
|
Inventories
|
|
December 31,
|
||||||
|
2012
|
|
2011
|
||||
|
(Dollars in millions)
|
||||||
Materials and supplies
|
$
|
157.6
|
|
|
$
|
123.7
|
|
Raw coal
|
164.3
|
|
|
108.1
|
|
||
Saleable coal
|
226.5
|
|
|
212.6
|
|
||
Total
|
$
|
548.4
|
|
|
$
|
444.4
|
|
(6)
|
Investments
|
Available-for-sale securities
|
|
Amortized Cost
|
|
Gross
Unrealized
Gains
|
|
Gross
Unrealized
Losses
|
|
Fair Value
|
||||||||
|
|
(Dollars in millions)
|
||||||||||||||
Current:
|
|
|
|
|
|
|
|
|
||||||||
U.S. corporate bonds
|
|
$
|
4.1
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
4.1
|
|
Noncurrent:
|
|
|
|
|
|
|
|
|
||||||||
Marketable equity securities
|
|
32.4
|
|
|
—
|
|
|
—
|
|
|
32.4
|
|
||||
Federal government securities
|
|
32.0
|
|
|
0.2
|
|
|
—
|
|
|
32.2
|
|
||||
U.S. corporate bonds
|
|
19.5
|
|
|
0.2
|
|
|
—
|
|
|
19.7
|
|
||||
Total
|
|
$
|
88.0
|
|
|
$
|
0.4
|
|
|
$
|
—
|
|
|
$
|
88.4
|
|
Available-for-sale securities
|
|
Amortized Cost
|
|
Gross
Unrealized
Gains
|
|
Gross
Unrealized
Losses
|
|
Fair Value
|
||||||||
|
|
|
|
(Dollars in millions)
|
|
|
||||||||||
Current:
|
|
|
|
|
|
|
|
|
||||||||
Federal government securities
|
|
$
|
3.3
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
3.3
|
|
U.S. corporate bonds
|
|
3.9
|
|
|
—
|
|
|
—
|
|
|
3.9
|
|
||||
Noncurrent:
|
|
|
|
|
|
|
|
|
||||||||
Marketable equity securities
|
|
67.9
|
|
|
—
|
|
|
(10.9
|
)
|
|
57.0
|
|
||||
Federal government securities
|
|
11.3
|
|
|
0.2
|
|
|
—
|
|
|
11.5
|
|
||||
U.S. corporate bonds
|
|
7.7
|
|
|
0.1
|
|
|
—
|
|
|
7.8
|
|
||||
Total
|
|
$
|
94.1
|
|
|
$
|
0.3
|
|
|
$
|
(10.9
|
)
|
|
$
|
83.5
|
|
Contractual maturities for available-for-sale securities
|
|
Cost
|
|
Fair Value
|
||||
|
|
(Dollars in millions)
|
||||||
Due in one year or less
|
|
$
|
4.1
|
|
|
$
|
4.1
|
|
Due in one to five years
|
|
51.5
|
|
|
51.9
|
|
||
Total
|
|
$
|
55.6
|
|
|
$
|
56.0
|
|
(7)
|
Derivatives and Fair Value Measurements
|
|
Notional Amount by Year of Maturity
|
||||||||||||||||||||||
|
Total
|
|
2013
|
|
2014
|
|
2015
|
|
2016
|
|
2017 and
thereafter
|
||||||||||||
Foreign Currency
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
A$:US$ hedge contracts (A$ millions)
|
$
|
4,448.2
|
|
|
$
|
2,173.6
|
|
|
$
|
1,513.5
|
|
|
$
|
761.1
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Commodity Contracts
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Diesel fuel hedge contracts (million gallons)
|
188.3
|
|
|
102.0
|
|
|
63.6
|
|
|
22.7
|
|
|
—
|
|
|
—
|
|
||||||
U.S. explosives hedge contracts (million MMBtu)
|
3.8
|
|
|
2.6
|
|
|
1.2
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
Account Classification by
|
|
|
|
||||||||||||
|
Cash
Flow
Hedge
|
|
Fair
Value
Hedge
|
|
Economic
Hedge
|
|
|
Fair Value
Asset (Liability)
|
||||||||
|
|
|
|
|
|
|
|
(Dollars in millions)
|
||||||||
Foreign Currency
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
A$:US$ hedge contracts (A$ millions)
|
$
|
4,448.2
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
|
$
|
286.9
|
|
Commodity Contracts
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Diesel fuel hedge contracts (million gallons)
|
188.3
|
|
|
—
|
|
|
—
|
|
|
|
$
|
9.6
|
|
|||
U.S. explosives hedge contracts (million MMBtu)
|
3.8
|
|
|
—
|
|
|
—
|
|
|
|
$
|
(5.6
|
)
|
|
|
|
|
Year Ended December 31, 2012
|
||||||||||||||
|
|
Statement of Operations Classification
Gains (Losses) - Realized
|
|
Gain
recognized in
income on non-
designated
derivatives
|
|
Gain
recognized in
other
comprehensive
income on
derivative
(effective portion)
|
|
Gain
reclassified
from other
comprehensive
income into
income (effective
portion)
|
|
Loss
reclassified
from other
comprehensive
income into
income
(ineffective
portion)
|
||||||||
Financial Instrument
|
|
|
|
|
|
|||||||||||||
|
|
|
|
(Dollars in millions)
|
||||||||||||||
Commodity swaps and options
|
|
Operating costs and expenses
|
|
$
|
—
|
|
|
$
|
14.5
|
|
|
$
|
48.3
|
|
|
$
|
(4.7
|
)
|
Foreign currency cash flow hedge contracts
|
|
Operating costs and expenses
|
|
—
|
|
|
148.0
|
|
|
351.7
|
|
|
—
|
|
||||
Total
|
|
|
|
$
|
—
|
|
|
$
|
162.5
|
|
|
$
|
400.0
|
|
|
$
|
(4.7
|
)
|
|
|
|
|
Year Ended December 31, 2011
|
||||||||||||||
|
|
Statement of Operations Classification
Gains (Losses) - Realized
|
|
Loss
recognized in
income on non-
designated
derivatives
(1)
|
|
Gain (loss)
recognized in
other
comprehensive
income on
derivative
(effective portion)
|
|
Gain
reclassified
from other
comprehensive
income into
income
(effective
portion)
|
|
Gain
reclassified
from other
comprehensive
income into
income
(ineffective
portion)
|
||||||||
Financial Instrument
|
|
|
|
|
|
|||||||||||||
|
|
|
|
(Dollars in millions)
|
||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Commodity swaps and options
|
|
Operating costs and expenses
|
|
$
|
—
|
|
|
$
|
30.7
|
|
|
$
|
42.7
|
|
|
$
|
4.8
|
|
Foreign currency cash flow hedge contracts
|
|
|
|
|
|
|
|
|
|
|
||||||||
- Operating costs
|
|
Operating costs and expenses
|
|
—
|
|
|
193.4
|
|
|
342.2
|
|
|
—
|
|
||||
- Capital expenditures
|
|
Depreciation, depletion and amortization
|
|
—
|
|
|
(0.5
|
)
|
|
—
|
|
|
—
|
|
||||
Foreign currency economic hedge contracts
|
|
Acquisition costs related to
PEA-PCI
|
|
(32.8
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Total
|
|
|
|
$
|
(32.8
|
)
|
|
$
|
223.6
|
|
|
$
|
384.9
|
|
|
$
|
4.8
|
|
(1)
|
Relates to foreign currency contracts associated with the acquisition of PEA-PCI shares under the takeover process.
|
|
|
|
|
Year Ended December 31, 2010
|
||||||||||||||
|
|
Statement of Operations Classification
Gains (Losses) - Realized
|
|
Loss
recognized in
income on non-
designated
derivatives
(2)
|
|
Gain
recognized in
other
comprehensive
income on
derivative
(effective portion)
|
|
Gain (loss)
reclassified
from other
comprehensive
income into
income
(effective
portion)
|
|
Loss
reclassified
from other
comprehensive
income into
income
(ineffective
portion)
|
||||||||
Financial Instrument
|
|
|
|
|
|
|||||||||||||
|
|
|
|
(Dollars in millions)
|
||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Interest rate swaps cash flow hedge contracts
|
|
Interest expense
|
|
$
|
(8.5
|
)
|
|
$
|
0.8
|
|
|
$
|
(0.5
|
)
|
|
$
|
—
|
|
Commodity swaps and options
|
|
Operating costs and expenses
|
|
—
|
|
|
29.9
|
|
|
(36.2
|
)
|
|
(1.1
|
)
|
||||
Foreign currency cash flow hedge contracts
|
|
Operating costs and expenses
|
|
—
|
|
|
622.2
|
|
|
188.2
|
|
|
—
|
|
||||
Total
|
|
|
|
$
|
(8.5
|
)
|
|
$
|
652.9
|
|
|
$
|
151.5
|
|
|
$
|
(1.1
|
)
|
(2)
|
Amounts relate to swaps that were de-designated and terminated in conjunction with the refinancing of the Company's previous credit facility.
|
|
|
Fair Value as of December 31, 2012
|
||||||||||||||
|
|
Current
Assets
|
|
Noncurrent
Assets
|
|
Current
Liabilities
|
|
Noncurrent
Liabilities
|
||||||||
Financial Instrument
|
|
|
|
|
||||||||||||
|
|
(Dollars in millions)
|
||||||||||||||
Commodity swaps and options
|
|
$
|
18.3
|
|
|
$
|
2.5
|
|
|
$
|
8.5
|
|
|
$
|
8.3
|
|
Foreign currency cash flow hedge contracts
|
|
260.1
|
|
|
27.6
|
|
|
—
|
|
|
0.8
|
|
||||
Total
|
|
$
|
278.4
|
|
|
$
|
30.1
|
|
|
$
|
8.5
|
|
|
$
|
9.1
|
|
|
|
Fair Value as of December 31, 2011
|
||||||||||||||
|
|
Current
Assets
|
|
Noncurrent
Assets
|
|
Current
Liabilities
|
|
Noncurrent
Liabilities
|
||||||||
Financial Instrument
|
|
|
|
|
||||||||||||
|
|
(Dollars in millions)
|
||||||||||||||
Commodity swaps and options
|
|
43.4
|
|
|
11.7
|
|
|
7.1
|
|
|
15.0
|
|
||||
Foreign currency cash flow hedge contracts
|
|
270.4
|
|
|
229.0
|
|
|
4.3
|
|
|
4.5
|
|
||||
Total
|
|
$
|
313.8
|
|
|
$
|
240.7
|
|
|
$
|
11.4
|
|
|
$
|
19.5
|
|
|
December 31, 2012
|
||||||||||||||
|
Level 1
|
|
Level 2
|
|
Level 3
|
|
Total
|
||||||||
|
|
|
(Dollars in millions)
|
|
|
||||||||||
Investment in available-for-sale debt and equity securities
|
$
|
75.4
|
|
|
$
|
13.0
|
|
|
$
|
—
|
|
|
$
|
88.4
|
|
Commodity swaps and options
|
—
|
|
|
4.0
|
|
|
—
|
|
|
4.0
|
|
||||
Foreign currency cash flow hedge contracts
|
—
|
|
|
286.9
|
|
|
—
|
|
|
286.9
|
|
||||
Total net financial assets
|
$
|
75.4
|
|
|
$
|
303.9
|
|
|
$
|
—
|
|
|
$
|
379.3
|
|
|
December 31, 2011
|
||||||||||||||
|
Level 1
(1)
|
|
Level 2
(1)
|
|
Level 3
|
|
Total
|
||||||||
|
|
|
(Dollars in millions)
|
|
|
||||||||||
Investment in available-for-sale debt and equity securities
|
$
|
78.0
|
|
|
$
|
5.5
|
|
|
$
|
—
|
|
|
$
|
83.5
|
|
Commodity swaps and options
|
—
|
|
|
33.0
|
|
|
—
|
|
|
33.0
|
|
||||
Foreign currency cash flow hedge contracts
|
—
|
|
|
490.6
|
|
|
—
|
|
|
490.6
|
|
||||
Total net financial assets
|
$
|
78.0
|
|
|
$
|
529.1
|
|
|
$
|
—
|
|
|
$
|
607.1
|
|
(1)
|
Certain amounts have been revised from a Level 1 to a Level 2 fair value hierarchy classification to conform to the current year presentation, which had no effect on previously reported consolidated results and was not material to the footnotes to the consolidated financial statements.
|
•
|
Investments in debt and equity securities: corporate bonds and U.S. government treasury instruments are valued based on quoted prices in active markets (Level 1) and U.S. government agency securities are valued based on derived prices in active markets (Level 2).
|
•
|
Commodity swap contracts — diesel fuel and explosives: valued based on a valuation that is corroborated by the use of market-based pricing (Level 2).
|
•
|
Foreign currency forward and option contracts: valued utilizing inputs obtained in quoted public markets (Level 2).
|
•
|
Cash and cash equivalents, accounts receivable, including those within the Company’s accounts receivable securitization program, and accounts payable and accrued expenses have carrying values which approximate fair value due to the short maturity or the liquid nature of these instruments.
|
•
|
Held-to-maturity investments in time deposits denominated in Chinese Renminbi of
$4.8 million
have carrying values based on amortized cost which approximates fair value due to the short maturity of these investments.
|
•
|
Long-term debt fair value estimates are based on observed prices for securities with an active trading market when available (Level 2), and otherwise on estimated borrowing rates to discount the cash flows to their present value (Level 3). The carrying amounts of the
7.875%
Senior Notes due December 2026 and the Convertible Junior Subordinated Debentures due 2066 (the Debentures) are net of the respective unamortized note discounts.
|
|
December 31, 2012
|
|
December 31, 2011
|
||||||||||||
|
Carrying
Amount
|
|
Estimated
Fair Value
|
|
Carrying
Amount
|
|
Estimated
Fair Value
|
||||||||
|
|
|
(Dollars in millions)
|
|
|
||||||||||
Long-term debt
|
$
|
6,252.9
|
|
|
$
|
6,583.9
|
|
|
$
|
6,657.5
|
|
|
$
|
6,922.7
|
|
(8)
|
Coal Trading
|
|
|
Year Ended December 31,
|
||||||||||
Trading Revenue by Type of Instrument
|
|
2012
|
|
2011
|
|
2010
|
||||||
|
|
(Dollars in millions)
|
||||||||||
Commodity swaps and options
|
|
$
|
159.9
|
|
|
$
|
(41.4
|
)
|
|
$
|
23.2
|
|
Physical commodity purchase/sale contracts
|
|
(8.1
|
)
|
|
187.0
|
|
|
135.5
|
|
|||
Total trading revenue
|
|
$
|
151.8
|
|
|
$
|
145.6
|
|
|
$
|
158.7
|
|
|
December 31,
|
||||||||||||||
|
2012
|
|
2011
|
||||||||||||
|
Gross Basis
|
|
Net Basis
|
|
Gross Basis
|
|
Net Basis
|
||||||||
|
(Dollars in millions)
|
||||||||||||||
Assets from coal trading activities
|
$
|
380.4
|
|
|
$
|
52.4
|
|
|
$
|
170.4
|
|
|
$
|
44.6
|
|
Liabilities from coal trading activities
|
(190.5
|
)
|
|
(19.4
|
)
|
|
(84.0
|
)
|
|
(10.3
|
)
|
||||
Subtotal
|
189.9
|
|
|
33.0
|
|
|
86.4
|
|
|
34.3
|
|
||||
Net variation margin held
(1)
|
(156.9
|
)
|
|
—
|
|
|
(52.1
|
)
|
|
—
|
|
||||
Net fair value of coal trading positions
|
$
|
33.0
|
|
|
$
|
33.0
|
|
|
$
|
34.3
|
|
|
$
|
34.3
|
|
(1)
|
Represents margin held from exchanges and counterparties to over-the-counter derivative contracts of
$156.9 million
and
$52.1 million
at December 31,
2012
and
2011
, respectively. Approximately
$76 million
and
$23 million
of the margin held at December 31,
2012
and
2011
, respectively, related to cash flow hedges.
|
|
December 31, 2012
|
||||||||||||||
|
Level 1
|
|
Level 2
|
|
Level 3
|
|
Total
|
||||||||
|
(Dollars in millions)
|
||||||||||||||
Commodity swaps and options
|
$
|
1.2
|
|
|
$
|
24.4
|
|
|
$
|
—
|
|
|
$
|
25.6
|
|
Physical commodity purchase/sale contracts
|
—
|
|
|
2.2
|
|
|
5.2
|
|
|
7.4
|
|
||||
Total net financial assets
|
$
|
1.2
|
|
|
$
|
26.6
|
|
|
$
|
5.2
|
|
|
$
|
33.0
|
|
|
December 31, 2011
|
||||||||||||||
|
Level 1
|
|
Level 2
|
|
Level 3
|
|
Total
|
||||||||
|
|
|
(Dollars in millions)
|
|
|
||||||||||
Commodity swaps and options
|
$
|
21.2
|
|
|
$
|
(1.9
|
)
|
|
$
|
—
|
|
|
$
|
19.3
|
|
Physical commodity purchase/sale contracts
|
—
|
|
|
6.3
|
|
|
8.7
|
|
|
15.0
|
|
||||
Total net financial assets
|
$
|
21.2
|
|
|
$
|
4.4
|
|
|
$
|
8.7
|
|
|
$
|
34.3
|
|
•
|
Commodity swaps and options: generally valued based on unadjusted quoted prices in active markets (Level 1) or a valuation that is corroborated by the use of market-based pricing (Level 2).
|
•
|
Physical commodity purchase/sale contracts: purchases and sales at locations with significant market activity corroborated by market-based information (Level 2).
|
|
|
Range
|
|
Weighted
|
|||||
Input
|
|
Low
|
|
High
|
|
Average
|
|||
Quality adjustments
|
|
2
|
%
|
|
22
|
%
|
|
14
|
%
|
Non-performance adjustments
|
|
4
|
%
|
|
4
|
%
|
|
4
|
%
|
|
Year Ended December 31,
|
|||||||||||
|
2012
|
|
2011
|
|
2010
|
|||||||
|
(Dollars in millions)
|
|||||||||||
Beginning of year
|
$
|
8.7
|
|
|
$
|
18.6
|
|
|
$
|
17.0
|
|
|
Total gains (losses) realized/unrealized:
|
|
|
|
|
|
|
|
|
||||
Included in earnings
|
17.5
|
|
|
8.9
|
|
|
2.1
|
|
||||
Included in other comprehensive income
|
—
|
|
|
—
|
|
|
(0.5
|
)
|
||||
Settlements
|
(21.0
|
)
|
|
(2.1
|
)
|
|
(0.1
|
)
|
||||
Transfers in
|
—
|
|
—
|
|
1.0
|
|
|
—
|
|
|||
Transfers out
|
—
|
|
|
(17.7
|
)
|
|
0.1
|
|
||||
End of year
|
$
|
5.2
|
|
|
$
|
8.7
|
|
|
$
|
18.6
|
|
|
Year Ended December 31,
|
||||||||||
|
2012
|
|
2011
|
|
2010
|
||||||
|
(Dollars in millions)
|
||||||||||
Changes in unrealized gains
(1)
|
$
|
4.1
|
|
|
$
|
8.7
|
|
|
$
|
6.7
|
|
(1)
|
Within the consolidated statements of operations and consolidated statements of comprehensive income for the periods presented, unrealized gains and losses from Level 3 items are combined with unrealized gains and losses on positions classified in Level 1 or 2, as well as other positions that have been realized during the applicable periods.
|
|
|
Percentage of
|
|
Year of Expiration
|
|
Portfolio Total
|
|
|
|
|
|
2013
|
|
77
|
%
|
2014
|
|
15
|
%
|
2015
|
|
6
|
%
|
2016
|
|
2
|
%
|
|
|
100
|
%
|
(9)
|
Financing Receivables
|
Balance Sheet Classification
|
|
December 31, 2012
|
|
December 31, 2011
|
||||
|
(Dollars in millions)
|
|||||||
Accounts receivable, net
|
$
|
0.7
|
|
|
$
|
51.3
|
|
|
Other current assets
|
—
|
|
|
65.0
|
|
|||
Investments and other assets
|
391.0
|
|
|
259.8
|
|
|||
Total financing receivables
|
$
|
391.7
|
|
|
$
|
376.1
|
|
(10)
|
Income Taxes
|
|
Year Ended December 31,
|
||||||||||
|
2012
|
|
2011
|
|
2010
|
||||||
|
(Dollars in millions)
|
||||||||||
Current:
|
|
|
|
|
|
|
|
|
|||
U.S. federal
|
$
|
116.8
|
|
|
$
|
103.4
|
|
|
$
|
113.9
|
|
Non-U.S.
|
127.6
|
|
|
58.9
|
|
|
78.8
|
|
|||
State
|
12.2
|
|
|
12.2
|
|
|
1.0
|
|
|||
Total current
|
256.6
|
|
|
174.5
|
|
|
193.7
|
|
|||
Deferred:
|
|
|
|
|
|
|
|
|
|||
U.S. federal
|
(32.7
|
)
|
|
138.0
|
|
|
46.3
|
|
|||
Non-U.S.
|
28.8
|
|
|
42.8
|
|
|
68.1
|
|
|||
State
|
9.6
|
|
|
7.9
|
|
|
5.6
|
|
|||
Total deferred
|
5.7
|
|
|
188.7
|
|
|
120.0
|
|
|||
Total provision
|
$
|
262.3
|
|
|
$
|
363.2
|
|
|
$
|
313.7
|
|
|
Year Ended December 31,
|
||||||||||
|
2012
|
|
2011
|
|
2010
|
||||||
|
(Dollars in millions)
|
||||||||||
Expected income tax provision at federal statutory rate
|
$
|
(73.0
|
)
|
|
$
|
480.8
|
|
|
$
|
399.7
|
|
Excess depletion
|
(69.4
|
)
|
|
(70.8
|
)
|
|
(53.5
|
)
|
|||
Capital loss
|
(118.1
|
)
|
|
—
|
|
|
—
|
|
|||
Minerals resource rent tax, net of federal tax benefit
|
77.2
|
|
|
—
|
|
|
—
|
|
|||
Foreign earnings provision differential
|
(68.7
|
)
|
|
(99.2
|
)
|
|
(124.5
|
)
|
|||
Foreign earnings repatriation
|
9.1
|
|
|
7.6
|
|
|
84.5
|
|
|||
Remeasurement of foreign income tax accounts
|
7.9
|
|
|
(0.9
|
)
|
|
47.9
|
|
|||
State income taxes, net of federal tax benefit
|
(1.1
|
)
|
|
12.3
|
|
|
(4.8
|
)
|
|||
General business tax credits
|
(17.4
|
)
|
|
(17.8
|
)
|
|
(17.0
|
)
|
|||
Changes in valuation allowance
|
521.5
|
|
|
15.4
|
|
|
(28.7
|
)
|
|||
Changes in tax reserves
|
24.5
|
|
|
14.7
|
|
|
—
|
|
|||
Other, net
|
(30.2
|
)
|
|
21.1
|
|
|
10.1
|
|
|||
Total provision
|
$
|
262.3
|
|
|
$
|
363.2
|
|
|
$
|
313.7
|
|
|
December 31,
|
||||||
|
2012
|
|
2011
|
||||
|
(Dollars in millions)
|
||||||
Deferred tax assets:
|
|
|
|
|
|
||
Tax credits and loss carryforwards
|
$
|
1,390.1
|
|
|
$
|
432.8
|
|
Minerals resource rent tax
|
689.7
|
|
|
—
|
|
||
Postretirement benefit obligations
|
473.3
|
|
|
485.4
|
|
||
Intangible tax asset and purchased contract rights
|
7.9
|
|
|
13.4
|
|
||
Accrued reclamation and mine closing liabilities
|
137.9
|
|
|
112.9
|
|
||
Accrued long-term workers’ compensation liabilities
|
15.7
|
|
|
15.6
|
|
||
Employee benefits
|
64.7
|
|
|
53.3
|
|
||
Financial guarantees
|
18.6
|
|
|
18.5
|
|
||
Other
|
56.5
|
|
|
57.8
|
|
||
Total gross deferred tax assets
|
2,854.4
|
|
|
1,189.7
|
|
||
Deferred tax liabilities:
|
|
|
|
|
|
||
Property, plant, equipment and mine development, leased coal interests and advance royalties, principally due to differences in depreciation, depletion and asset writedowns
|
1,596.9
|
|
|
1,318.0
|
|
||
Unamortized discount on Convertible Junior Subordinated Debentures
|
132.8
|
|
|
132.5
|
|
||
Hedge activities
|
37.5
|
|
|
45.5
|
|
||
Investments and other assets
|
126.3
|
|
|
109.8
|
|
||
Total gross deferred tax liabilities
|
1,893.5
|
|
|
1,605.8
|
|
||
Valuation allowance, income tax
|
(714.9
|
)
|
|
(79.8
|
)
|
||
Valuation allowance, minerals resource rent tax
|
(766.9
|
)
|
|
—
|
|
||
Net deferred tax liability
|
$
|
(520.9
|
)
|
|
$
|
(495.9
|
)
|
Deferred taxes are classified as follows:
|
|
|
|
|
|
||
Current deferred income taxes
|
$
|
56.4
|
|
|
$
|
27.3
|
|
Noncurrent deferred income taxes
|
(577.3
|
)
|
|
(523.2
|
)
|
||
Net deferred tax liability
|
$
|
(520.9
|
)
|
|
$
|
(495.9
|
)
|
|
Year Ended December 31,
|
||||||||||
|
2012
|
|
2011
|
|
2010
|
||||||
Balance at beginning of period
|
$
|
119.6
|
|
|
$
|
111.0
|
|
|
$
|
113.2
|
|
Additions for current year tax positions
|
17.4
|
|
|
5.2
|
|
|
3.4
|
|
|||
Additions for prior year positions
|
31.9
|
|
|
3.4
|
|
|
13.8
|
|
|||
Reductions for settlements with tax authorities
|
(46.1
|
)
|
|
—
|
|
|
(19.4
|
)
|
|||
Reductions for expirations of statutes of limitations
|
—
|
|
|
—
|
|
|
—
|
|
|||
Balance at end of period
|
$
|
122.8
|
|
|
$
|
119.6
|
|
|
$
|
111.0
|
|
|
Year Ended December 31,
|
||||||||||
|
2012
|
|
2011
|
|
2010
|
||||||
|
(Dollars in millions)
|
||||||||||
U.S. — federal
|
$
|
63.0
|
|
|
$
|
200.0
|
|
|
$
|
65.0
|
|
U.S. — state and local
|
11.8
|
|
|
13.2
|
|
|
0.4
|
|
|||
Non-U.S.
|
64.1
|
|
|
61.9
|
|
|
83.0
|
|
|||
Total income tax payments
|
$
|
138.9
|
|
|
$
|
275.1
|
|
|
$
|
148.4
|
|
(11)
|
Accounts Payable and Accrued Expenses
|
|
December 31,
|
||||||
|
2012
|
|
2011
|
||||
|
(Dollars in millions)
|
||||||
Trade accounts payable
|
$
|
555.0
|
|
|
$
|
735.6
|
|
Other accrued expenses
|
372.1
|
|
|
274.0
|
|
||
Accrued payroll and related benefits
|
256.8
|
|
|
254.7
|
|
||
Accrued taxes other than income
|
203.8
|
|
|
210.5
|
|
||
Accrued royalties
|
82.3
|
|
|
77.8
|
|
||
Accrued interest
|
47.5
|
|
|
49.7
|
|
||
Accrued health care insurance
|
21.3
|
|
|
9.3
|
|
||
Workers’ compensation obligations
|
18.4
|
|
|
17.3
|
|
||
Accrued environmental
|
10.6
|
|
|
11.6
|
|
||
Commodity and foreign currency hedge contracts
|
5.8
|
|
|
7.9
|
|
||
Liabilities associated with discontinued operations
|
33.3
|
|
|
63.9
|
|
||
Total accounts payable and accrued expenses
|
$
|
1,606.9
|
|
|
$
|
1,712.3
|
|
(12)
|
Debt
|
|
December 31,
|
||||||
|
2012
|
|
2011
|
||||
|
(Dollars in millions)
|
||||||
Term Loan
|
$
|
418.8
|
|
|
$
|
468.8
|
|
2011 Term Loan Facility
|
912.5
|
|
|
1,000.0
|
|
||
7.375% Senior Notes due November 2016
|
650.0
|
|
|
650.0
|
|
||
6.00% Senior Notes due November 2018
|
1,518.8
|
|
|
1,600.0
|
|
||
6.50% Senior Notes due September 2020
|
650.0
|
|
|
650.0
|
|
||
6.25% Senior Notes due November 2021
|
1,339.6
|
|
|
1,500.0
|
|
||
7.875% Senior Notes due November 2026
|
247.4
|
|
|
247.3
|
|
||
Convertible Junior Subordinated Debentures due December 2066
|
377.4
|
|
|
375.2
|
|
||
Capital lease obligations
|
104.6
|
|
|
122.8
|
|
||
Other
|
33.8
|
|
|
43.4
|
|
||
Total
|
$
|
6,252.9
|
|
|
$
|
6,657.5
|
|
Senior Notes
|
|
Interest Payment Dates
|
6.00% Senior Notes
|
|
May 15 and November 15
|
6.25% Senior Notes
|
|
May 15 and November 15
|
6.50% Senior Notes
|
|
March 15 and September 15
|
7.375% Senior Notes
|
|
May 1 and November 1
|
7.875% Senior Notes
|
|
May 1 and November 1
|
|
December 31,
|
||||||
|
2012
|
|
2011
|
||||
|
(Dollars in millions)
|
||||||
Carrying amount of the equity component
|
$
|
215.4
|
|
|
$
|
215.4
|
|
Principal amount of the liability component
|
$
|
732.5
|
|
|
$
|
732.5
|
|
Unamortized discount
|
(355.1
|
)
|
|
(357.3
|
)
|
||
Net carrying amount
|
$
|
377.4
|
|
|
$
|
375.2
|
|
|
Year Ended December 31,
|
||||||||||
|
2012
|
|
2011
|
|
2010
|
||||||
|
(Dollars in millions)
|
||||||||||
Effective interest rate
|
4.9
|
%
|
|
4.9
|
%
|
|
4.9
|
%
|
|||
Interest expense — contractual interest coupon
|
$
|
34.8
|
|
|
$
|
34.8
|
|
|
$
|
34.8
|
|
Interest expense — amortization of debt discount
|
2.1
|
|
|
1.8
|
|
|
1.6
|
|
|
|
|
|
|
Year of Maturity
|
|
(Dollars in millions)
|
||
2013
|
$
|
47.8
|
|
|
2014
|
111.2
|
|
||
2015
|
461.6
|
|
||
2016
|
1,477.9
|
|
||
2017
|
9.3
|
|
||
2018 and thereafter
|
4,145.1
|
|
||
Total
|
$
|
6,252.9
|
|
(13)
|
Leases
|
|
|
Capital
Leases
|
|
Operating
Leases
|
|
Coal Lease
and
Royalty
Obligations
|
||||||
Year Ending December 31,
|
|
|
|
|||||||||
|
|
(Dollars in millions)
|
||||||||||
2013
|
|
$
|
42.2
|
|
|
$
|
145.1
|
|
|
$
|
282.2
|
|
2014
|
|
26.6
|
|
|
130.5
|
|
|
280.4
|
|
|||
2015
|
|
11.2
|
|
|
115.1
|
|
|
278.0
|
|
|||
2016
|
|
11.1
|
|
|
102.3
|
|
|
252.6
|
|
|||
2017
|
|
10.9
|
|
|
81.6
|
|
|
4.6
|
|
|||
2018 and thereafter
|
|
23.4
|
|
|
102.9
|
|
|
28.3
|
|
|||
Total minimum lease payments
|
|
125.4
|
|
|
$
|
677.5
|
|
|
$
|
1,126.1
|
|
|
Less interest
|
|
20.8
|
|
|
|
|
|
|
|
|||
Present value of minimum capital lease payments
|
|
$
|
104.6
|
|
|
|
|
|
|
|
(14)
|
Asset Retirement Obligations
|
|
December 31,
|
||||||
|
2012
|
|
2011
|
||||
|
(Dollars in millions)
|
||||||
Balance at beginning of year
|
$
|
615.2
|
|
|
$
|
484.9
|
|
Liabilities incurred or acquired
|
13.6
|
|
|
43.0
|
|
||
Liabilities settled or disposed
|
(12.8
|
)
|
|
(8.7
|
)
|
||
Accretion expense
|
34.3
|
|
|
28.3
|
|
||
Revisions to estimates
|
37.2
|
|
|
67.7
|
|
||
Balance at end of year
|
$
|
687.5
|
|
|
$
|
615.2
|
|
Balance at end of year — active locations
|
$
|
629.1
|
|
|
$
|
567.9
|
|
Balance at end of year — closed or inactive locations
|
$
|
58.4
|
|
|
$
|
47.3
|
|
(15)
|
Postretirement Health Care and Life Insurance Benefits
|
|
Year Ended December 31,
|
||||||||||
|
2012
|
|
2011
|
|
2010
|
||||||
|
(Dollars in millions)
|
||||||||||
Service cost for benefits earned
|
$
|
14.9
|
|
|
$
|
13.9
|
|
|
$
|
12.9
|
|
Interest cost on accumulated postretirement benefit obligation
|
54.9
|
|
|
57.9
|
|
|
58.2
|
|
|||
Amortization of prior service cost
|
2.5
|
|
|
2.8
|
|
|
2.6
|
|
|||
Amortization of actuarial loss
|
32.8
|
|
|
26.9
|
|
|
24.9
|
|
|||
Net periodic postretirement benefit cost
|
$
|
105.1
|
|
|
$
|
101.5
|
|
|
$
|
98.6
|
|
|
Year Ended December 31,
|
||||||||||
|
2012
|
|
2011
|
|
2010
|
||||||
|
(Dollars in millions)
|
||||||||||
Net actuarial (gain) loss arising during year
|
$
|
(68.3
|
)
|
|
$
|
86.0
|
|
|
$
|
45.3
|
|
Prior service (credit) cost arising during year
|
(31.9
|
)
|
|
(1.4
|
)
|
|
7.9
|
|
|||
Amortization:
|
|
|
|
|
|
|
|
|
|||
Actuarial loss
|
(32.8
|
)
|
|
(26.9
|
)
|
|
(24.9
|
)
|
|||
Prior service cost
|
(2.5
|
)
|
|
(2.8
|
)
|
|
(2.6
|
)
|
|||
Total recorded in other comprehensive (income) loss
|
(135.5
|
)
|
|
54.9
|
|
|
25.7
|
|
|||
Net periodic postretirement benefit cost
|
105.1
|
|
|
101.5
|
|
|
98.6
|
|
|||
Net periodic postretirement benefit cost, net of amounts recorded in other comprehensive (income) loss
|
$
|
(30.4
|
)
|
|
$
|
156.4
|
|
|
$
|
124.3
|
|
|
December 31,
|
||||||
|
2012
|
|
2011
|
||||
|
(Dollars in millions)
|
||||||
Change in benefit obligation:
|
|
|
|
|
|
||
Accumulated postretirement benefit obligation at beginning of period
|
$
|
1,121.5
|
|
|
$
|
1,031.2
|
|
Service cost
|
14.9
|
|
|
13.9
|
|
||
Interest cost
|
54.9
|
|
|
57.9
|
|
||
Participant contributions
|
2.3
|
|
|
1.9
|
|
||
Plan changes
(1)
|
(31.9
|
)
|
|
(1.4
|
)
|
||
Benefits paid
|
(67.3
|
)
|
|
(68.0
|
)
|
||
Actuarial (gain) loss
|
(68.3
|
)
|
|
86.0
|
|
||
Accumulated postretirement benefit obligation at end of period
|
1,026.1
|
|
|
1,121.5
|
|
||
Change in plan assets:
|
|
|
|
|
|
||
Fair value of plan assets at beginning of period
|
—
|
|
|
—
|
|
||
Employer contributions
|
65.0
|
|
|
66.1
|
|
||
Participant contributions
|
2.3
|
|
|
1.9
|
|
||
Benefits paid and administrative fees (net of Medicare Part D reimbursements)
|
(67.3
|
)
|
|
(68.0
|
)
|
||
Fair value of plan assets at end of period
|
—
|
|
|
—
|
|
||
Funded status at end of year
|
(1,026.1
|
)
|
|
(1,121.5
|
)
|
||
Less current portion (included in "Accounts payable and accrued expenses")
|
65.4
|
|
|
68.4
|
|
||
Noncurrent obligation (included in "Accrued postretirement benefit costs")
|
$
|
(960.7
|
)
|
|
$
|
(1,053.1
|
)
|
(1)
|
Effective January 1, 2013, certain participants for whom the Company pays retiree healthcare liabilities began participation in a Medicare Advantage Program.
|
|
Year Ended December 31,
|
||||
|
2012
|
|
2011
|
||
Health care cost trend rate assumed for next year
|
6.43
|
%
|
|
9.00
|
%
|
Rate to which the cost trend is assumed to decline (the ultimate trend rate)
|
4.67
|
%
|
|
5.00
|
%
|
Year that the rate reaches the ultimate trend rate
|
2023
|
|
|
2018
|
|
|
One Percentage-
Point Increase
|
|
One Percentage-
Point Decrease
|
||||
|
(Dollars in millions)
|
||||||
Effect on total service and interest cost components
(1)
|
$
|
18.1
|
|
|
$
|
(15.6
|
)
|
Effect on total postretirement benefit obligation
(1)
|
$
|
107.5
|
|
|
$
|
(93.0
|
)
|
(1)
|
In addition to the effect on total service and interest cost components of expense, changes in trend rates would also increase or decrease the actuarial gain or loss amortization expense component. The impact on actuarial gain or loss amortization would approximate the increase or decrease in the obligation divided by
11.75
years at January 1, 2013.
|
|
Postretirement
|
||
|
Benefits
|
||
|
(Dollars in millions)
|
||
2013
|
$
|
65.4
|
|
2014
|
66.5
|
|
|
2015
|
67.6
|
|
|
2016
|
68.8
|
|
|
2017
|
69.5
|
|
|
Years 2018-2022
|
355.7
|
|
(16)
|
Pension and Savings Plans
|
|
Year Ended December 31,
|
||||||||||
|
2012
|
|
2011
|
|
2010
|
||||||
|
(Dollars in millions)
|
||||||||||
Service cost for benefits earned
|
$
|
2.0
|
|
|
$
|
1.7
|
|
|
$
|
1.5
|
|
Interest cost on projected benefit obligation
|
46.7
|
|
|
49.8
|
|
|
50.5
|
|
|||
Expected return on plan assets
|
(63.7
|
)
|
|
(64.4
|
)
|
|
(58.3
|
)
|
|||
Amortization of prior service cost
|
1.0
|
|
|
1.0
|
|
|
1.4
|
|
|||
Amortization of actuarial losses
|
48.6
|
|
|
30.1
|
|
|
21.9
|
|
|||
Total net periodic pension cost
|
$
|
34.6
|
|
|
$
|
18.2
|
|
|
$
|
17.0
|
|
|
Year Ended December 31,
|
||||||||||
|
2012
|
|
2011
|
|
2010
|
||||||
|
(Dollars in millions)
|
||||||||||
Net actuarial loss arising during year
|
$
|
67.6
|
|
|
$
|
144.2
|
|
|
$
|
13.1
|
|
Amortization:
|
|
|
|
|
|
|
|
|
|||
Actuarial loss
|
(48.6
|
)
|
|
(30.1
|
)
|
|
(21.9
|
)
|
|||
Prior service cost
|
(1.0
|
)
|
|
(1.0
|
)
|
|
(1.4
|
)
|
|||
Total recorded in other comprehensive loss (income)
|
18.0
|
|
|
113.1
|
|
|
(10.2
|
)
|
|||
Net periodic pension cost
|
34.6
|
|
|
18.2
|
|
|
17.0
|
|
|||
Net periodic pension cost, net of amounts recorded in other comprehensive loss (income)
|
$
|
52.6
|
|
|
$
|
131.3
|
|
|
$
|
6.8
|
|
|
December 31,
|
||||||
|
2012
|
|
2011
|
||||
|
(Dollars in millions)
|
||||||
Change in benefit obligation:
|
|
|
|
|
|
||
Projected benefit obligation at beginning of period
|
$
|
963.6
|
|
|
$
|
881.0
|
|
Service cost
|
2.0
|
|
|
1.7
|
|
||
Interest cost
|
46.7
|
|
|
49.8
|
|
||
Benefits paid
|
(54.1
|
)
|
|
(52.8
|
)
|
||
Actuarial loss
|
100.4
|
|
|
83.9
|
|
||
Projected benefit obligation at end of period
|
1,058.6
|
|
|
963.6
|
|
||
Change in plan assets:
|
|
|
|
|
|
||
Fair value of plan assets at beginning of period
|
769.6
|
|
|
771.6
|
|
||
Actual return on plan assets
|
96.5
|
|
|
4.1
|
|
||
Employer contributions
|
1.7
|
|
|
46.7
|
|
||
Benefits paid
|
(54.1
|
)
|
|
(52.8
|
)
|
||
Fair value of plan assets at end of period
|
813.7
|
|
|
769.6
|
|
||
Funded status at end of year
|
$
|
(244.9
|
)
|
|
$
|
(194.0
|
)
|
Amounts recognized in the consolidated balance sheets:
|
|
|
|
|
|
||
Current obligation (included in "Accounts payable and accrued expenses")
|
$
|
(1.7
|
)
|
|
$
|
(1.7
|
)
|
Noncurrent obligation (included in "Other noncurrent liabilities")
|
(243.2
|
)
|
|
(192.3
|
)
|
||
Net amount recognized
|
$
|
(244.9
|
)
|
|
$
|
(194.0
|
)
|
|
December 31,
|
||||
|
2012
|
|
2011
|
||
Discount rate
|
4.10
|
%
|
|
5.00
|
%
|
Measurement date
|
December 31, 2012
|
|
|
December 31, 2011
|
|
|
Year Ended December 31,
|
|||||||
|
2012
|
|
2011
|
|
2010
|
|||
Discount rate
|
5.00
|
%
|
|
5.84
|
%
|
|
6.19
|
%
|
Expected long-term return on plan assets
|
8.00
|
%
|
|
8.25
|
%
|
|
8.25
|
%
|
Measurement date
|
December 31, 2011
|
|
|
December 31, 2010
|
|
|
December 31, 2009
|
|
|
December 31, 2012
|
||||||||||||||
|
Level 1
|
|
Level 2
|
|
Level 3
|
|
Total
|
||||||||
|
(Dollars in millions)
|
||||||||||||||
U.S. equity securities
|
$
|
255.6
|
|
|
$
|
83.6
|
|
|
$
|
—
|
|
|
$
|
339.2
|
|
International equity securities
|
43.0
|
|
|
83.1
|
|
|
—
|
|
|
126.1
|
|
||||
Mortgage-backed debt securities
|
—
|
|
|
115.5
|
|
|
—
|
|
|
115.5
|
|
||||
U.S. debt securities
|
5.7
|
|
|
94.6
|
|
|
—
|
|
|
100.3
|
|
||||
International debt securities
|
—
|
|
|
35.4
|
|
|
—
|
|
|
35.4
|
|
||||
Corporate debt securities
|
—
|
|
|
54.9
|
|
|
—
|
|
|
54.9
|
|
||||
Short-term investments
|
8.1
|
|
|
6.4
|
|
|
—
|
|
|
14.5
|
|
||||
Interests in real estate
|
—
|
|
|
—
|
|
|
27.8
|
|
|
27.8
|
|
||||
Total assets at fair value
|
$
|
312.4
|
|
|
$
|
473.5
|
|
|
$
|
27.8
|
|
|
$
|
813.7
|
|
|
December 31, 2011
|
||||||||||||||
|
Level 1
(1)
|
|
Level 2
(1)
|
|
Level 3
|
|
Total
|
||||||||
|
(Dollars in millions)
|
||||||||||||||
U.S. equity securities
|
$
|
260.9
|
|
|
$
|
79.5
|
|
|
$
|
—
|
|
|
$
|
340.4
|
|
International equity securities
|
36.4
|
|
|
71.4
|
|
|
—
|
|
|
107.8
|
|
||||
Mortgage-backed debt securities
|
—
|
|
|
98.9
|
|
|
—
|
|
|
98.9
|
|
||||
U.S. debt securities
|
17.0
|
|
|
83.3
|
|
|
—
|
|
|
100.3
|
|
||||
International debt securities
|
—
|
|
|
32.0
|
|
|
—
|
|
|
32.0
|
|
||||
Corporate debt securities
|
—
|
|
|
45.8
|
|
|
—
|
|
|
45.8
|
|
||||
Short-term investments
|
13.5
|
|
|
5.6
|
|
|
—
|
|
|
19.1
|
|
||||
Interests in real estate
|
—
|
|
|
—
|
|
|
25.3
|
|
|
25.3
|
|
||||
Total assets at fair value
|
$
|
327.8
|
|
|
$
|
416.5
|
|
|
$
|
25.3
|
|
|
$
|
769.6
|
|
(1)
|
Certain amounts have been revised from a Level 2 to a Level 1 fair value hierarchy classification to conform to the current year presentation, which had no effect on previously reported consolidated results and was not material to the footnotes to the consolidated financial statements.
|
|
Year Ended December 31,
|
||||||
|
2012
|
|
2011
|
||||
|
(Dollars in millions)
|
||||||
Balance, beginning of year
|
$
|
25.3
|
|
|
$
|
47.7
|
|
Realized losses
|
—
|
|
|
(8.9
|
)
|
||
Unrealized gains relating to investments still held at the reporting date
|
2.5
|
|
|
11.4
|
|
||
Purchases, sales and settlements, net
|
—
|
|
|
(24.9
|
)
|
||
Balance, end of year
|
$
|
27.8
|
|
|
$
|
25.3
|
|
|
Pension Benefits
|
||
|
(Dollars in millions)
|
||
2013
|
$
|
56.6
|
|
2014
|
58.5
|
|
|
2015
|
60.2
|
|
|
2016
|
61.8
|
|
|
2017
|
63.3
|
|
|
Years 2018-2022
|
328.0
|
|
(17)
|
Stockholders’ Equity
|
|
2012
|
|
2011
|
|
2010
|
|||
Shares outstanding at the beginning of the year
|
271.1
|
|
|
270.2
|
|
|
268.2
|
|
Stock options exercised
|
0.2
|
|
|
0.3
|
|
|
1.5
|
|
Stock grants to employees
|
1.5
|
|
|
0.7
|
|
|
0.6
|
|
Employee stock purchases
|
0.3
|
|
|
0.2
|
|
|
0.2
|
|
Shares relinquished
|
(0.3
|
)
|
|
(0.3
|
)
|
|
(0.3
|
)
|
Shares repurchased
|
(4.2
|
)
|
|
—
|
|
|
—
|
|
Shares outstanding at the end of the year
|
268.6
|
|
|
271.1
|
|
|
270.2
|
|
(18)
|
Share-Based Compensation
|
|
Year Ended December 31,
|
||||||||||
|
2012
|
|
2011
|
|
2010
|
||||||
|
(Dollars in millions)
|
||||||||||
Share-based compensation expense
|
$
|
45.4
|
|
|
$
|
43.9
|
|
|
$
|
41.1
|
|
Tax benefit
|
16.7
|
|
|
16.3
|
|
|
15.4
|
|
|||
Share-based compensation expense, net of tax benefit
|
28.7
|
|
|
27.6
|
|
|
25.7
|
|
|||
Cash received upon the exercise of stock options and from employee stock purchases
|
9.4
|
|
|
11.1
|
|
|
22.2
|
|
|||
Excess tax benefits related to share-based compensation
|
8.3
|
|
|
8.1
|
|
|
51.0
|
|
|
Year Ended
December 31,
2012
|
|
Weighted
Average
Grant-Date
Fair Value
|
|||
Nonvested at December 31, 2011
|
1,531,092
|
|
|
$
|
45.16
|
|
Granted
|
1,334,532
|
|
|
34.05
|
|
|
Vested
|
(594,128
|
)
|
|
28.73
|
|
|
Forfeited
|
(232,165
|
)
|
|
45.29
|
|
|
Nonvested at December 31, 2012
|
2,039,331
|
|
|
$
|
42.34
|
|
|
Year Ended
December 31,
2012
|
|
Weighted
Average
Exercise
Price
|
|
Weighted
Average
Remaining
Contractual
Life
|
|
Aggregate
Intrinsic
Value (in
millions)
|
||||||
Options Outstanding at December 31, 2011
|
1,884,780
|
|
|
$
|
37.92
|
|
|
5.6
|
|
|
$
|
11.0
|
|
Granted
|
369,782
|
|
|
36.27
|
|
|
|
|
|
|
|
||
Exercised
|
(218,281
|
)
|
|
9.90
|
|
|
|
|
|
|
|
||
Forfeited
|
(211,056
|
)
|
|
47.37
|
|
|
|
|
|
|
|
||
Options Outstanding at December 31, 2012
|
1,825,225
|
|
|
$
|
39.85
|
|
|
5.7
|
|
|
$
|
2.5
|
|
Vested and Exercisable
|
1,325,951
|
|
|
$
|
37.90
|
|
|
4.6
|
|
|
$
|
2.5
|
|
|
Year Ended December 31,
|
||||||||||
|
2012
|
|
2011
|
|
2010
|
||||||
Weighted-average fair value
|
$
|
18.59
|
|
|
$
|
33.92
|
|
|
$
|
25.70
|
|
Risk-free interest rate
|
0.9
|
%
|
|
2.0
|
%
|
|
2.8
|
%
|
|||
Expected option life
|
5.0 years
|
|
|
5.0 years
|
|
|
5.0 years
|
|
|||
Expected volatility
|
64.0
|
%
|
|
64.1
|
%
|
|
64.2
|
%
|
|||
Dividend yield
|
0.6
|
%
|
|
0.6
|
%
|
|
0.6
|
%
|
|
Year Ended
December 31,
2012
|
|
Weighted
Average
Remaining
Contractual
Life
|
||
Nonvested at December 31, 2011
|
260,989
|
|
|
1.5
|
|
Granted
|
218,368
|
|
|
|
|
Forfeited
|
(75,343
|
)
|
|
|
|
Vested
|
(117,382
|
)
|
|
|
|
Nonvested at December 31, 2012
|
286,632
|
|
|
1.5
|
|
|
Year Ended December 31,
|
|||||||
|
2012
|
|
2011
|
|
2010
|
|||
Risk-free interest rate
|
0.4
|
%
|
|
1.0
|
%
|
|
1.7
|
%
|
Expected volatility
|
52.8
|
%
|
|
63.9
|
%
|
|
64.1
|
%
|
Dividend yield
|
0.6
|
%
|
|
0.6
|
%
|
|
0.6
|
%
|
(19)
|
Accumulated Other Comprehensive Income (Loss)
|
|
Foreign
Currency
Translation
Adjustment
|
|
Net
Actuarial Loss
Associated with
Postretirement
Plans and
Workers’
Compensation
Obligations
|
|
Prior Service
Cost Associated
with
Postretirement
Plans
|
|
Cash Flow
Hedges
|
|
Available-For-Sale Securities
|
|
Total
Accumulated
Other
Comprehensive
Income (Loss)
|
||||||||||||
|
(Dollars in millions)
|
||||||||||||||||||||||
December 31, 2009
|
$
|
3.1
|
|
|
$
|
(343.5
|
)
|
|
$
|
(10.4
|
)
|
|
$
|
167.3
|
|
|
$
|
—
|
|
|
$
|
(183.5
|
)
|
Net change in fair value
|
—
|
|
|
—
|
|
|
—
|
|
|
229.9
|
|
|
—
|
|
|
229.9
|
|
||||||
Reclassification from other comprehensive income to earnings
|
—
|
|
|
31.8
|
|
|
2.5
|
|
|
(102.4
|
)
|
|
—
|
|
|
(68.1
|
)
|
||||||
Current period change
|
—
|
|
|
(41.3
|
)
|
|
(4.9
|
)
|
|
—
|
|
|
—
|
|
|
(46.2
|
)
|
||||||
December 31, 2010
|
3.1
|
|
|
(353.0
|
)
|
|
(12.8
|
)
|
|
294.8
|
|
|
—
|
|
|
(67.9
|
)
|
||||||
Net change in fair value
|
—
|
|
|
—
|
|
|
—
|
|
|
291.9
|
|
|
(5.8
|
)
|
|
286.1
|
|
||||||
Reclassification from other comprehensive income to earnings
|
—
|
|
|
38.2
|
|
|
2.3
|
|
|
(251.0
|
)
|
|
(0.9
|
)
|
|
(211.4
|
)
|
||||||
Current period change
|
—
|
|
|
(150.1
|
)
|
|
0.9
|
|
|
—
|
|
|
—
|
|
|
(149.2
|
)
|
||||||
December 31, 2011
|
3.1
|
|
|
(464.9
|
)
|
|
(9.6
|
)
|
|
335.7
|
|
|
(6.7
|
)
|
|
(142.4
|
)
|
||||||
Net change in fair value
|
—
|
|
|
—
|
|
|
—
|
|
|
350.4
|
|
|
(15.5
|
)
|
|
334.9
|
|
||||||
Reclassification from other comprehensive income to earnings
|
—
|
|
|
53.2
|
|
|
2.2
|
|
|
(298.6
|
)
|
|
22.5
|
|
|
(220.7
|
)
|
||||||
Current period change
|
19.1
|
|
|
—
|
|
|
20.1
|
|
|
—
|
|
|
—
|
|
|
39.2
|
|
||||||
December 31, 2012
|
$
|
22.2
|
|
|
$
|
(411.7
|
)
|
|
$
|
12.7
|
|
|
$
|
387.5
|
|
|
$
|
0.3
|
|
|
$
|
11.0
|
|
(20)
|
Resource Management and Other Commercial Events
|
Inventories
|
|
$
|
3.6
|
|
Property, plant, equipment and mine development
|
|
243.8
|
|
|
Accounts payable and accrued expenses
|
|
(1.4
|
)
|
|
Total, net
|
|
$
|
246.0
|
|
(21)
|
(Loss) Earnings per Share (EPS)
|
|
Year Ended December 31,
|
||||||||||
|
2012
|
|
2011
|
|
2010
|
||||||
|
(In millions, except per share amounts)
|
||||||||||
EPS numerator:
|
|
|
|
|
|
|
|
|
|||
(Loss) income from continuing operations, net of income taxes
|
$
|
(470.9
|
)
|
|
$
|
1,012.8
|
|
|
$
|
825.0
|
|
Less: Net income (loss) attributable to noncontrolling interests
|
10.6
|
|
|
(11.4
|
)
|
|
28.2
|
|
|||
(Loss) income from continuing operations attributable to common stockholders before allocation of earnings to participating securities
|
(481.5
|
)
|
|
1,024.2
|
|
|
796.8
|
|
|||
Less: Earnings allocated to participating securities
|
—
|
|
|
5.3
|
|
|
5.6
|
|
|||
(Loss) income from continuing operations attributable to common
stockholders, after earnings allocated to participating securities
(1)
|
(481.5
|
)
|
|
1,018.9
|
|
|
791.2
|
|
|||
Loss from discontinued operations, net of income taxes
|
(104.2
|
)
|
|
(66.5
|
)
|
|
(22.8
|
)
|
|||
Less: Loss from discontinued operations allocated to participating securities
|
—
|
|
|
(0.4
|
)
|
|
(0.2
|
)
|
|||
Loss from discontinued operations attributable to common stockholders, after allocation of earnings to participating securities
(1)
|
$
|
(104.2
|
)
|
|
$
|
(66.1
|
)
|
|
$
|
(22.6
|
)
|
Net (loss) income attributable to common stockholders, after earnings
allocated to participating securities
(1)
|
$
|
(585.7
|
)
|
|
$
|
952.8
|
|
|
$
|
768.6
|
|
EPS denominator:
|
|
|
|
|
|
|
|
|
|||
Weighted average shares outstanding — basic
|
268.0
|
|
|
269.1
|
|
|
267.0
|
|
|||
Impact of dilutive securities
|
—
|
|
|
1.2
|
|
|
2.9
|
|
|||
Weighted average shares outstanding — diluted
|
268.0
|
|
|
270.3
|
|
|
269.9
|
|
|||
Basic EPS attributable to common stockholders:
|
|
|
|
|
|
|
|
|
|||
(Loss) income from continuing operations
|
$
|
(1.80
|
)
|
|
$
|
3.78
|
|
|
$
|
2.96
|
|
Loss from discontinued operations
|
(0.39
|
)
|
|
(0.25
|
)
|
|
(0.08
|
)
|
|||
Net (loss) income attributable to common stockholders
|
$
|
(2.19
|
)
|
|
$
|
3.53
|
|
|
$
|
2.88
|
|
Diluted EPS attributable to common stockholders:
|
|
|
|
|
|
|
|
|
|||
(Loss) income from continuing operations
|
$
|
(1.80
|
)
|
|
$
|
3.77
|
|
|
$
|
2.92
|
|
Loss from discontinued operations
|
(0.39
|
)
|
|
(0.25
|
)
|
|
(0.08
|
)
|
|||
Net (loss) income attributable to common stockholders
|
$
|
(2.19
|
)
|
|
$
|
3.52
|
|
|
$
|
2.84
|
|
(1)
|
The reallocation adjustment for participating securities to arrive at the numerator used to calculate diluted EPS was less than
$0.1 million
for 2011 and 2010.
|
Mine
|
|
Current Agreement Expiration Date
|
|
|
|
U. S.
|
|
|
Willow Lake
(1)
|
|
-
|
Willow Lake Preparation Facility
(1)
|
|
December 2014
|
Kayenta
(2)
|
|
September 2013
|
|
|
|
Australia
|
|
|
Owner-operated mines:
|
|
|
Wilkie Creek
(3)
|
|
May 2013
|
Metropolitan
(4)
|
|
June 2013
|
Coppabella
(4)
|
|
August 2013
|
Wambo Coal Handling Plant
|
|
October 2014
|
North Wambo Underground
|
|
April 2015
|
North Goonyella
|
|
July 2015
|
|
|
|
Contractor-operated mines:
|
|
|
Eaglefield
|
|
July 2014
|
Wambo Open-Cut
|
|
August 2014
|
Moorvale
|
|
March 2015
|
Millennium
|
|
October 2015
|
Wilpinjong
|
|
May 2016
|
Burton
|
|
December 2016
|
(1)
|
The labor agreement for the hourly workers at the Company’s Willow Lake Mine in Illinois expired in April 2011. The mine continued to operate without a labor agreement until closure activities were initiated at that site in November 2012. The preparation facility will continue to service the Company's Cottage Grove and Wildcat Hills Underground Mines. Refer to Note 3. "Asset Impairment and Mine Closure Costs" for additional details regarding the closure.
|
(2)
|
Hourly workers at the Company’s Kayenta Mine in Arizona are represented by the UMWA under the Western Surface Agreement, which is effective through September 2, 2013. This agreement covers approximately
7%
of the Company’s U.S. subsidiaries’ hourly employees, who generated
4%
of the Company’s U.S. production during the year ended
December 31, 2012
.
|
(3)
|
The Wilkie Creek Mine was classified as held for sale within discontinued operations as of
December 31, 2012
.
|
(4)
|
Negotiations for the Metropolitan and Coppabella mines are underway
.
|
(23)
|
Financial Instruments and Guarantees With Off-Balance-Sheet Risk
|
|
Reclamation
Obligations
|
|
Lease
Obligations
|
|
Workers’
Compensation
Obligations
|
|
Other
(1)
|
|
Total
|
||||||||||
|
(Dollars in millions)
|
||||||||||||||||||
Self bonding
|
$
|
1,275.8
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
1,275.8
|
|
Surety bonds
|
316.5
|
|
|
105.3
|
|
|
29.4
|
|
|
8.8
|
|
|
460.0
|
|
|||||
Bank guarantees
|
255.1
|
|
|
—
|
|
|
—
|
|
|
175.3
|
|
|
430.4
|
|
|||||
Letters of credit
|
—
|
|
|
—
|
|
|
24.1
|
|
|
81.3
|
|
|
105.4
|
|
|||||
|
$
|
1,847.4
|
|
|
$
|
105.3
|
|
|
$
|
53.5
|
|
|
$
|
265.4
|
|
|
$
|
2,271.6
|
|
(1)
|
Other includes the
$79.7 million
in letters of credit described below and an additional
$185.7 million
in bank guarantees, letters of credit and surety bonds related to collateral for surety companies, road maintenance, performance guarantees and other operations.
|
(24)
|
Commitments and Contingencies
|
(25)
|
Summary of Quarterly Financial Information (Unaudited)
|
|
Year Ended December 31, 2012
|
||||||||||||||
|
First Quarter
|
|
Second Quarter
|
|
Third Quarter
|
|
Fourth Quarter
|
||||||||
|
(In millions, except per share data)
|
||||||||||||||
Revenues
|
$
|
2,020.7
|
|
|
$
|
1,981.1
|
|
|
$
|
2,058.8
|
|
|
$
|
2,016.9
|
|
Operating profit (loss)
|
351.3
|
|
|
276.7
|
|
|
266.5
|
|
|
(722.0
|
)
|
||||
Income (loss) from continuing operations, net of income taxes
|
183.0
|
|
|
214.5
|
|
|
122.9
|
|
|
(991.3
|
)
|
||||
Net income (loss)
|
178.3
|
|
|
207.8
|
|
|
41.6
|
|
|
(1,002.8
|
)
|
||||
Net income (loss) attributable to common stockholders
|
172.7
|
|
|
204.7
|
|
|
42.9
|
|
|
(1,006.0
|
)
|
||||
Basic EPS — continuing operations
(1)
|
$
|
0.65
|
|
|
$
|
0.78
|
|
|
$
|
0.46
|
|
|
$
|
(3.73
|
)
|
Diluted EPS — continuing operations
(1)
|
0.65
|
|
|
0.78
|
|
|
0.46
|
|
|
(3.73
|
)
|
||||
Weighted average shares used in calculating basic EPS
|
270.1
|
|
|
269.2
|
|
|
266.2
|
|
|
266.3
|
|
||||
Weighted average shares used in calculating diluted EPS
|
270.9
|
|
|
269.8
|
|
|
266.8
|
|
|
266.3
|
|
(1)
|
EPS for the quarters may not sum to the amounts for the year as each period is computed on a discrete basis.
|
|
Year Ended December 31, 2011
|
||||||||||||||
|
First Quarter
|
|
Second Quarter
|
|
Third Quarter
|
|
Fourth Quarter
|
||||||||
|
(In millions, except per share data)
|
||||||||||||||
Revenues
|
$
|
1,723.8
|
|
|
$
|
1,961.7
|
|
|
$
|
1,980.6
|
|
|
$
|
2,229.8
|
|
Operating profit
|
312.6
|
|
|
479.4
|
|
|
385.5
|
|
|
418.2
|
|
||||
Income from continuing operations, net of income taxes
|
193.6
|
|
|
306.5
|
|
|
291.2
|
|
|
221.5
|
|
||||
Net income
|
178.7
|
|
|
292.2
|
|
|
281.4
|
|
|
194.0
|
|
||||
Net income attributable to common stockholders
|
176.5
|
|
|
284.8
|
|
|
274.0
|
|
|
222.4
|
|
||||
Basic EPS — continuing operations
(1)
|
$
|
0.71
|
|
|
$
|
1.10
|
|
|
$
|
1.05
|
|
|
$
|
0.92
|
|
Diluted EPS — continuing operations
(1)
|
0.70
|
|
|
1.10
|
|
|
1.04
|
|
|
0.92
|
|
||||
Weighted average shares used in calculating basic EPS
|
268.9
|
|
|
269.0
|
|
|
269.2
|
|
|
269.3
|
|
||||
Weighted average shares used in calculating diluted EPS
|
272.8
|
|
|
270.5
|
|
|
270.6
|
|
|
270.2
|
|
(1)
|
EPS for the quarters may not sum to the amounts for the year as each period is computed on a discrete basis.
|
(26)
|
Segment and Geographic Information
|
|
Western
U.S. Mining
|
|
Midwestern
U.S. Mining
|
|
Australian
Mining
|
|
Trading and
Brokerage
|
|
Corporate
and Other
|
|
Consolidated
|
||||||||||||
|
(Dollars in millions)
|
||||||||||||||||||||||
Revenues
|
$
|
2,949.3
|
|
|
$
|
1,403.7
|
|
|
$
|
3,503.6
|
|
|
$
|
199.9
|
|
|
$
|
21.0
|
|
|
$
|
8,077.5
|
|
Adjusted EBITDA
|
832.8
|
|
|
427.0
|
|
|
938.9
|
|
|
119.7
|
|
|
(481.9
|
)
|
|
1,836.5
|
|
||||||
Total assets
|
3,248.6
|
|
|
507.7
|
|
|
7,990.8
|
|
|
544.4
|
|
|
3,517.5
|
|
|
15,809.0
|
|
||||||
Total property, plant, equipment and mine development, net
|
2,886.8
|
|
|
486.6
|
|
|
6,595.5
|
|
|
2.1
|
|
|
1,830.7
|
|
|
11,801.7
|
|
||||||
Additions to property, plant, equipment and mine development
|
121.4
|
|
|
74.7
|
|
|
743.4
|
|
|
0.1
|
|
|
46.4
|
|
|
986.0
|
|
||||||
Federal coal lease expenditures
|
276.5
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
276.5
|
|
||||||
Loss from equity affiliates
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
61.2
|
|
|
61.2
|
|
|
Western
U.S. Mining
|
|
Midwestern
U.S. Mining
|
|
Australian
Mining
|
|
Trading and
Brokerage
|
|
Corporate
and Other
|
|
Consolidated
|
||||||||||||
|
(Dollars in millions)
|
||||||||||||||||||||||
Revenues
|
$
|
2,900.4
|
|
|
$
|
1,402.6
|
|
|
$
|
3,080.7
|
|
|
$
|
475.1
|
|
|
$
|
37.1
|
|
|
$
|
7,895.9
|
|
Adjusted EBITDA
|
766.0
|
|
|
402.9
|
|
|
1,194.3
|
|
|
197.0
|
|
|
(437.6
|
)
|
|
2,122.6
|
|
||||||
Total assets
|
3,095.8
|
|
|
590.6
|
|
|
8,440.4
|
|
|
633.3
|
|
|
3,972.9
|
|
|
16,733.0
|
|
||||||
Total property, plant, equipment and mine development, net
|
2,785.1
|
|
|
502.4
|
|
|
6,371.3
|
|
|
1.7
|
|
|
1,591.1
|
|
|
11,251.6
|
|
||||||
Additions to property, plant, equipment and mine development
|
186.1
|
|
|
99.9
|
|
|
490.8
|
|
|
0.9
|
|
|
69.7
|
|
|
847.4
|
|
||||||
Federal coal lease expenditures
|
42.4
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
42.4
|
|
||||||
Loss from equity affiliates
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
19.2
|
|
|
19.2
|
|
|
Western
U.S. Mining
|
|
Midwestern
U.S. Mining
|
|
Australian
Mining
|
|
Trading and
Brokerage
|
|
Corporate
and Other
|
|
Consolidated
|
||||||||||||
|
(Dollars in millions)
|
||||||||||||||||||||||
Revenues
|
$
|
2,706.3
|
|
|
$
|
1,248.9
|
|
|
$
|
2,399.9
|
|
|
$
|
291.1
|
|
|
$
|
22.0
|
|
|
$
|
6,668.2
|
|
Adjusted EBITDA
|
816.7
|
|
|
309.9
|
|
|
977.4
|
|
|
77.2
|
|
|
(354.7
|
)
|
|
1,826.5
|
|
||||||
Total assets
|
3,008.4
|
|
|
528.5
|
|
|
3,556.9
|
|
|
398.2
|
|
|
3,871.1
|
|
|
11,363.1
|
|
||||||
Total property, plant, equipment and mine development, net
|
2,672.8
|
|
|
508.4
|
|
|
2,559.4
|
|
|
1.2
|
|
|
1,521.5
|
|
|
7,263.3
|
|
||||||
Additions to property, plant, equipment and mine development
|
143.3
|
|
|
223.0
|
|
|
138.7
|
|
|
0.9
|
|
|
40.1
|
|
|
546.0
|
|
||||||
Loss from equity affiliates
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1.7
|
|
|
1.7
|
|
|
Year Ended December 31,
|
||||||||||
|
2012
|
|
2011
|
|
2010
|
||||||
|
(Dollars in millions)
|
||||||||||
Total Adjusted EBITDA
|
$
|
1,836.5
|
|
|
$
|
2,122.6
|
|
|
$
|
1,826.5
|
|
Depreciation, depletion and amortization
|
(663.4
|
)
|
|
(474.3
|
)
|
|
(429.5
|
)
|
|||
Asset retirement obligation expenses
|
(67.0
|
)
|
|
(52.6
|
)
|
|
(45.9
|
)
|
|||
Asset impairment and mine closure costs
|
(929.0
|
)
|
|
—
|
|
|
—
|
|
|||
Amortization of basis difference
|
(4.6
|
)
|
|
—
|
|
|
—
|
|
|||
Interest expense
|
(405.6
|
)
|
|
(238.6
|
)
|
|
(222.0
|
)
|
|||
Interest income
|
24.5
|
|
|
18.9
|
|
|
9.6
|
|
|||
Income tax provision
|
(262.3
|
)
|
|
(363.2
|
)
|
|
(313.7
|
)
|
|||
(Loss) income from continuing operations, net of income taxes
|
$
|
(470.9
|
)
|
|
$
|
1,012.8
|
|
|
$
|
825.0
|
|
|
Year Ended December 31,
|
|||||||
|
2012
|
|
2011
|
|
2010
|
|||
U.S.
|
55.4
|
%
|
|
61.0
|
%
|
|
63.5
|
%
|
Japan
|
12.3
|
%
|
|
10.2
|
%
|
|
9.1
|
%
|
China
|
6.8
|
%
|
|
2.8
|
%
|
|
2.7
|
%
|
South Korea
|
5.8
|
%
|
|
5.5
|
%
|
|
3.7
|
%
|
India
|
4.1
|
%
|
|
5.2
|
%
|
|
4.9
|
%
|
Other
|
15.6
|
%
|
|
15.3
|
%
|
|
16.1
|
%
|
Total
|
100.0
|
%
|
|
100.0
|
%
|
|
100.0
|
%
|
(27)
|
Supplemental Guarantor/Non-Guarantor Financial Information
|
|
Year Ended December 31, 2012
|
||||||||||||||||||
|
Parent
Company
|
|
Guarantor
Subsidiaries
|
|
Non-Guarantor
Subsidiaries
|
|
Eliminations
|
|
Consolidated
|
||||||||||
|
(Dollars in millions)
|
||||||||||||||||||
Total revenues
|
$
|
—
|
|
|
$
|
4,571.3
|
|
|
$
|
3,729.2
|
|
|
$
|
(223.0
|
)
|
|
$
|
8,077.5
|
|
Costs and expenses
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Operating costs and expenses
|
(395.2
|
)
|
|
3,344.1
|
|
|
3,206.8
|
|
|
(223.0
|
)
|
|
5,932.7
|
|
|||||
Depreciation, depletion and amortization
|
—
|
|
|
315.6
|
|
|
347.8
|
|
|
—
|
|
|
663.4
|
|
|||||
Asset retirement obligation expenses
|
—
|
|
|
42.9
|
|
|
24.1
|
|
|
—
|
|
|
67.0
|
|
|||||
Selling and administrative expenses
|
38.7
|
|
|
199.7
|
|
|
30.4
|
|
|
—
|
|
|
268.8
|
|
|||||
Other operating (income) loss:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Net gain on disposal or exchange of assets
|
—
|
|
|
(14.7
|
)
|
|
(2.4
|
)
|
|
—
|
|
|
(17.1
|
)
|
|||||
Asset impairment and mine closure costs
|
35.5
|
|
|
86.8
|
|
|
806.7
|
|
|
—
|
|
|
929.0
|
|
|||||
Loss from equity affiliates and investment in subsidiaries
|
720.0
|
|
|
12.5
|
|
|
48.7
|
|
|
(720.0
|
)
|
|
61.2
|
|
|||||
Interest expense
|
413.9
|
|
|
13.9
|
|
|
475.6
|
|
|
(497.8
|
)
|
|
405.6
|
|
|||||
Interest income
|
(309.8
|
)
|
|
(149.1
|
)
|
|
(63.4
|
)
|
|
497.8
|
|
|
(24.5
|
)
|
|||||
Unrealized (gain) loss on derivatives
|
—
|
|
|
(35.3
|
)
|
|
35.3
|
|
|
—
|
|
|
—
|
|
|||||
(Loss) income from continuing operations before income taxes
|
(503.1
|
)
|
|
754.9
|
|
|
(1,180.4
|
)
|
|
720.0
|
|
|
(208.6
|
)
|
|||||
Income tax provision
|
80.2
|
|
|
105.8
|
|
|
76.3
|
|
|
—
|
|
|
262.3
|
|
|||||
(Loss) income from continuing operations, net of income taxes
|
(583.3
|
)
|
|
649.1
|
|
|
(1,256.7
|
)
|
|
720.0
|
|
|
(470.9
|
)
|
|||||
Loss from discontinued operations, net of income taxes
|
(2.4
|
)
|
|
(82.2
|
)
|
|
(19.6
|
)
|
|
—
|
|
|
(104.2
|
)
|
|||||
Net (loss) income
|
(585.7
|
)
|
|
566.9
|
|
|
(1,276.3
|
)
|
|
720.0
|
|
|
(575.1
|
)
|
|||||
Less: Net income attributable to noncontrolling interests
|
—
|
|
|
—
|
|
|
10.6
|
|
|
—
|
|
|
10.6
|
|
|||||
Net (loss) income attributable to common stockholders
|
$
|
(585.7
|
)
|
|
$
|
566.9
|
|
|
$
|
(1,286.9
|
)
|
|
$
|
720.0
|
|
|
$
|
(585.7
|
)
|
|
Year Ended December 31, 2011
|
||||||||||||||||||
|
Parent
Company
|
|
Guarantor
Subsidiaries
|
|
Non-Guarantor
Subsidiaries
|
|
Eliminations
|
|
Consolidated
|
||||||||||
|
(Dollars in millions)
|
||||||||||||||||||
Total revenues
|
$
|
—
|
|
|
$
|
4,679.9
|
|
|
$
|
3,509.4
|
|
|
$
|
(293.4
|
)
|
|
$
|
7,895.9
|
|
Costs and expenses
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Operating costs and expenses
|
(386.3
|
)
|
|
3,526.2
|
|
|
2,631.1
|
|
|
(293.4
|
)
|
|
5,477.6
|
|
|||||
Depreciation, depletion and amortization
|
—
|
|
|
289.5
|
|
|
184.8
|
|
|
—
|
|
|
474.3
|
|
|||||
Asset retirement obligation expenses
|
—
|
|
|
35.7
|
|
|
16.9
|
|
|
—
|
|
|
52.6
|
|
|||||
Selling and administrative expenses
|
34.0
|
|
|
215.0
|
|
|
19.2
|
|
|
—
|
|
|
268.2
|
|
|||||
Acquisition costs related to Macarthur Coal Limited
|
32.8
|
|
|
31.2
|
|
|
21.2
|
|
|
—
|
|
|
85.2
|
|
|||||
Other operating (income) loss:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Net gain on disposal or exchange of assets
|
—
|
|
|
(73.2
|
)
|
|
(3.7
|
)
|
|
—
|
|
|
(76.9
|
)
|
|||||
(Income) loss from equity affiliates and investment in subsidiaries
|
(881.5
|
)
|
|
8.6
|
|
|
10.6
|
|
|
881.5
|
|
|
19.2
|
|
|||||
Interest expense
|
243.1
|
|
|
47.3
|
|
|
67.2
|
|
|
(119.0
|
)
|
|
238.6
|
|
|||||
Interest income
|
(50.9
|
)
|
|
(31.1
|
)
|
|
(55.9
|
)
|
|
119.0
|
|
|
(18.9
|
)
|
|||||
Unrealized (gain) loss on derivatives
|
—
|
|
|
(1.3
|
)
|
|
1.3
|
|
|
—
|
|
|
—
|
|
|||||
Income from continuing operations before income taxes
|
1,008.8
|
|
|
632.0
|
|
|
616.7
|
|
|
(881.5
|
)
|
|
1,376.0
|
|
|||||
Income tax provision
|
46.5
|
|
|
172.0
|
|
|
144.7
|
|
|
—
|
|
|
363.2
|
|
|||||
Income from continuing operations, net of income taxes
|
962.3
|
|
|
460.0
|
|
|
472.0
|
|
|
(881.5
|
)
|
|
1,012.8
|
|
|||||
Loss from discontinued operations, net of income taxes
|
(4.6
|
)
|
|
(5.4
|
)
|
|
(56.5
|
)
|
|
—
|
|
|
(66.5
|
)
|
|||||
Net income
|
957.7
|
|
|
454.6
|
|
|
415.5
|
|
|
(881.5
|
)
|
|
946.3
|
|
|||||
Less: Net loss attributable to noncontrolling interests
|
—
|
|
|
—
|
|
|
(11.4
|
)
|
|
—
|
|
|
(11.4
|
)
|
|||||
Net income attributable to common stockholders
|
$
|
957.7
|
|
|
$
|
454.6
|
|
|
$
|
426.9
|
|
|
$
|
(881.5
|
)
|
|
$
|
957.7
|
|
|
Year Ended December 31, 2010
|
||||||||||||||||||
|
Parent
Company
|
|
Guarantor
Subsidiaries
|
|
Non-Guarantor
Subsidiaries
|
|
Eliminations
|
|
Consolidated
|
||||||||||
|
(Dollars in millions)
|
||||||||||||||||||
Total revenues
|
$
|
—
|
|
|
$
|
3,524.4
|
|
|
$
|
3,916.9
|
|
|
$
|
(773.1
|
)
|
|
$
|
6,668.2
|
|
Costs and expenses
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Operating costs and expenses
|
(145.1
|
)
|
|
2,413.1
|
|
|
3,142.8
|
|
|
(773.1
|
)
|
|
4,637.7
|
|
|||||
Depreciation, depletion and amortization
|
—
|
|
|
286.5
|
|
|
143.0
|
|
|
—
|
|
|
429.5
|
|
|||||
Asset retirement obligation expenses
|
—
|
|
|
30.6
|
|
|
15.3
|
|
|
—
|
|
|
45.9
|
|
|||||
Selling and administrative expenses
|
31.6
|
|
|
194.3
|
|
|
6.3
|
|
|
—
|
|
|
232.2
|
|
|||||
Other operating (income) loss:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Net (gain) loss on disposal or exchange of assets
|
—
|
|
|
(34.4
|
)
|
|
4.5
|
|
|
—
|
|
|
(29.9
|
)
|
|||||
(Income) loss from equity affiliates and investment in subsidiaries
|
(838.4
|
)
|
|
7.1
|
|
|
6.0
|
|
|
827.0
|
|
|
1.7
|
|
|||||
Interest expense
|
219.7
|
|
|
52.7
|
|
|
17.9
|
|
|
(68.3
|
)
|
|
222.0
|
|
|||||
Interest income
|
(18.8
|
)
|
|
(21.8
|
)
|
|
(37.3
|
)
|
|
68.3
|
|
|
(9.6
|
)
|
|||||
Income from continuing operations before income taxes
|
751.0
|
|
|
596.3
|
|
|
618.4
|
|
|
(827.0
|
)
|
|
1,138.7
|
|
|||||
Income tax (benefit) provision
|
(24.2
|
)
|
|
181.6
|
|
|
156.3
|
|
|
—
|
|
|
313.7
|
|
|||||
Income from continuing operations, net of income taxes
|
775.2
|
|
|
414.7
|
|
|
462.1
|
|
|
(827.0
|
)
|
|
825.0
|
|
|||||
Loss from discontinued operations, net of income taxes
|
(1.2
|
)
|
|
(21.6
|
)
|
|
—
|
|
|
—
|
|
|
(22.8
|
)
|
|||||
Net income
|
774.0
|
|
|
393.1
|
|
|
462.1
|
|
|
(827.0
|
)
|
|
802.2
|
|
|||||
Less: Net income attributable to noncontrolling interests
|
—
|
|
|
—
|
|
|
28.2
|
|
|
—
|
|
|
28.2
|
|
|||||
Net income attributable to common stockholders
|
$
|
774.0
|
|
|
$
|
393.1
|
|
|
$
|
433.9
|
|
|
$
|
(827.0
|
)
|
|
$
|
774.0
|
|
|
Year Ended December 31, 2012
|
||||||||||||||||||
|
Parent
Company
|
|
Guarantor
Subsidiaries
|
|
Non-Guarantor
Subsidiaries
|
|
Eliminations
|
|
Consolidated
|
||||||||||
|
(Dollars in millions)
|
||||||||||||||||||
Net (loss) income
|
$
|
(585.7
|
)
|
|
$
|
566.9
|
|
|
$
|
(1,276.3
|
)
|
|
$
|
720.0
|
|
|
$
|
(575.1
|
)
|
Other comprehensive income, net of income taxes:
|
|
|
|
|
|
|
|
|
|
||||||||||
Net change in unrealized gains (losses) on available-for-sale securities (net of $4.0 tax provision)
|
|
|
|
|
|
|
|
|
|
||||||||||
Unrealized holding losses on available-for-sale securities
|
(15.5
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(15.5
|
)
|
|||||
Less: Reclassification for realized losses included in net income
|
22.5
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
22.5
|
|
|||||
Net change in unrealized gains on available-for-sale securities
|
7.0
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
7.0
|
|
|||||
Net unrealized losses on cash flow hedges (net of $3.9 tax benefit)
|
|
|
|
|
|
|
|
|
|
||||||||||
Increase in fair value of cash flow hedges
|
205.9
|
|
|
—
|
|
|
144.5
|
|
|
—
|
|
|
350.4
|
|
|||||
Less: Reclassification for realized gains included in net income
|
(249.1
|
)
|
|
—
|
|
|
(49.5
|
)
|
|
—
|
|
|
(298.6
|
)
|
|||||
Net unrealized (losses) gains on cash flow hedges
|
(43.2
|
)
|
|
—
|
|
|
95.0
|
|
|
—
|
|
|
51.8
|
|
|||||
Postretirement plans and workers' compensation obligations (net of $43.9 tax provision)
|
|
|
|
|
|
|
|
|
|
||||||||||
Prior service cost for the period
|
—
|
|
|
20.1
|
|
|
—
|
|
|
—
|
|
|
20.1
|
|
|||||
Net actuarial (loss) gain for the period
|
—
|
|
|
(0.9
|
)
|
|
0.9
|
|
|
—
|
|
|
—
|
|
|||||
Amortization of actuarial loss and prior service cost
|
—
|
|
|
54.5
|
|
|
0.9
|
|
|
—
|
|
|
55.4
|
|
|||||
Postretirement plan and workers' compensation obligations
|
—
|
|
|
73.7
|
|
|
1.8
|
|
|
—
|
|
|
75.5
|
|
|||||
Foreign currency translation adjustment
|
—
|
|
|
—
|
|
|
19.1
|
|
|
—
|
|
|
19.1
|
|
|||||
Other comprehensive income from investment in subsidiaries
|
189.6
|
|
|
—
|
|
|
—
|
|
|
(189.6
|
)
|
|
—
|
|
|||||
Other comprehensive income, net of income taxes
|
153.4
|
|
|
73.7
|
|
|
115.9
|
|
|
(189.6
|
)
|
|
153.4
|
|
|||||
Comprehensive (loss) income
|
(432.3
|
)
|
|
640.6
|
|
|
(1,160.4
|
)
|
|
530.4
|
|
|
(421.7
|
)
|
|||||
Less: Comprehensive income attributable to noncontrolling interests
|
—
|
|
|
—
|
|
|
10.6
|
|
|
—
|
|
|
10.6
|
|
|||||
Comprehensive (loss) income attributable to common stockholders
|
$
|
(432.3
|
)
|
|
$
|
640.6
|
|
|
$
|
(1,171.0
|
)
|
|
$
|
530.4
|
|
|
$
|
(432.3
|
)
|
|
Year Ended December 31, 2011
|
||||||||||||||||||
|
Parent
Company
|
|
Guarantor
Subsidiaries
|
|
Non-Guarantor
Subsidiaries
|
|
Eliminations
|
|
Consolidated
|
||||||||||
|
(Dollars in millions)
|
||||||||||||||||||
Net income
|
$
|
957.7
|
|
|
$
|
454.6
|
|
|
$
|
415.5
|
|
|
$
|
(881.5
|
)
|
|
$
|
946.3
|
|
Other comprehensive (loss) income, net of income taxes:
|
|
|
|
|
|
|
|
|
|
||||||||||
Net change in unrealized (losses) gains on available-for-sale securities (net of $3.9 tax benefit)
|
|
|
|
|
|
|
|
|
|
||||||||||
Unrealized holding (losses) gains on available-for-sale securities
|
(6.0
|
)
|
|
—
|
|
|
0.2
|
|
|
—
|
|
|
(5.8
|
)
|
|||||
Less: Reclassification for realized gains included in net income
|
(0.9
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(0.9
|
)
|
|||||
Net change in unrealized (losses) gains on available-for-sale securities
|
(6.9
|
)
|
|
—
|
|
|
0.2
|
|
|
—
|
|
|
(6.7
|
)
|
|||||
Net unrealized gains on cash flow hedges (net of $6.2 tax benefit)
|
|
|
|
|
|
|
|
|
|
||||||||||
Increase in fair value of cash flow hedges
|
142.0
|
|
|
—
|
|
|
149.9
|
|
|
—
|
|
|
291.9
|
|
|||||
Less: Reclassification for realized gains included in net income
|
(241.9
|
)
|
|
—
|
|
|
(9.1
|
)
|
|
—
|
|
|
(251.0
|
)
|
|||||
Net unrealized (losses) gains on cash flow hedges
|
(99.9
|
)
|
|
—
|
|
|
140.8
|
|
|
—
|
|
|
40.9
|
|
|||||
Postretirement plans and workers' compensation obligations (net of $63.4 tax benefit)
|
|
|
|
|
|
|
|
|
|
||||||||||
Prior service cost for the period
|
—
|
|
|
0.9
|
|
|
—
|
|
|
—
|
|
|
0.9
|
|
|||||
Net actuarial loss for the period
|
—
|
|
|
(148.6
|
)
|
|
(1.5
|
)
|
|
—
|
|
|
(150.1
|
)
|
|||||
Amortization of actuarial loss and prior service cost
|
—
|
|
|
39.4
|
|
|
1.1
|
|
|
—
|
|
|
40.5
|
|
|||||
Postretirement plan and workers' compensation obligations
|
—
|
|
|
(108.3
|
)
|
|
(0.4
|
)
|
|
—
|
|
|
(108.7
|
)
|
|||||
Other comprehensive income from investment in subsidiaries
|
32.3
|
|
|
—
|
|
|
—
|
|
|
(32.3
|
)
|
|
—
|
|
|||||
Other comprehensive (loss) income, net of income taxes
|
(74.5
|
)
|
|
(108.3
|
)
|
|
140.6
|
|
|
(32.3
|
)
|
|
(74.5
|
)
|
|||||
Comprehensive income
|
883.2
|
|
|
346.3
|
|
|
556.1
|
|
|
(913.8
|
)
|
|
871.8
|
|
|||||
Less: Comprehensive loss attributable to noncontrolling interests
|
—
|
|
|
—
|
|
|
(11.4
|
)
|
|
—
|
|
|
(11.4
|
)
|
|||||
Comprehensive income attributable to common stockholders
|
$
|
883.2
|
|
|
$
|
346.3
|
|
|
$
|
567.5
|
|
|
$
|
(913.8
|
)
|
|
$
|
883.2
|
|
|
Year Ended December 31, 2010
|
||||||||||||||||||
|
Parent
Company
|
|
Guarantor
Subsidiaries
|
|
Non-Guarantor
Subsidiaries
|
|
Eliminations
|
|
Consolidated
|
||||||||||
|
(Dollars in millions)
|
||||||||||||||||||
Net income
|
$
|
774.0
|
|
|
$
|
393.1
|
|
|
$
|
462.1
|
|
|
$
|
(827.0
|
)
|
|
$
|
802.2
|
|
Other comprehensive income (loss), net of income taxes:
|
|
|
|
|
|
|
|
|
|
||||||||||
Net unrealized gains (losses) on cash flow hedges (net of $129.5 tax provision)
|
|
|
|
|
|
|
|
|
|
||||||||||
Increase (decrease) in fair value of cash flow hedges
|
408.2
|
|
|
13.2
|
|
|
(191.5
|
)
|
|
—
|
|
|
229.9
|
|
|||||
Less: Reclassification for realized gains included in net income
|
(85.8
|
)
|
|
(7.0
|
)
|
|
(9.6
|
)
|
|
—
|
|
|
(102.4
|
)
|
|||||
Net unrealized gains (losses) on cash flow hedges
|
322.4
|
|
|
6.2
|
|
|
(201.1
|
)
|
|
—
|
|
|
127.5
|
|
|||||
Postretirement plans and workers' compensation obligations (net of $2.1 tax benefit)
|
|
|
|
|
|
|
|
|
|
||||||||||
Prior service credit for the period
|
—
|
|
|
(4.9
|
)
|
|
—
|
|
|
—
|
|
|
(4.9
|
)
|
|||||
Net actuarial loss for the period
|
—
|
|
|
(40.9
|
)
|
|
(0.4
|
)
|
|
—
|
|
|
(41.3
|
)
|
|||||
Amortization of actuarial loss and prior service cost
|
—
|
|
|
33.3
|
|
|
1.0
|
|
|
—
|
|
|
34.3
|
|
|||||
Postretirement plan and workers' compensation obligations
|
—
|
|
|
(12.5
|
)
|
|
0.6
|
|
|
—
|
|
|
(11.9
|
)
|
|||||
Other comprehensive loss from investment in subsidiaries
|
(206.8
|
)
|
|
—
|
|
|
—
|
|
|
206.8
|
|
|
—
|
|
|||||
Other comprehensive income (loss), net of income taxes
|
115.6
|
|
|
(6.3
|
)
|
|
(200.5
|
)
|
|
206.8
|
|
|
115.6
|
|
|||||
Comprehensive income
|
889.6
|
|
|
386.8
|
|
|
261.6
|
|
|
(620.2
|
)
|
|
917.8
|
|
|||||
Less: Comprehensive income attributable to noncontrolling interests
|
—
|
|
|
—
|
|
|
28.2
|
|
|
—
|
|
|
28.2
|
|
|||||
Comprehensive income attributable to common
stockholders
|
$
|
889.6
|
|
|
$
|
386.8
|
|
|
$
|
233.4
|
|
|
$
|
(620.2
|
)
|
|
$
|
889.6
|
|
|
December 31, 2012
|
||||||||||||||||||
|
Parent
Company
|
|
Guarantor
Subsidiaries
|
|
Non-Guarantor
Subsidiaries
|
|
Reclassifications/
Eliminations
|
|
Consolidated
|
||||||||||
|
(Dollars in millions)
|
||||||||||||||||||
Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Current assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Cash and cash equivalents
|
$
|
269.6
|
|
|
$
|
0.3
|
|
|
$
|
288.9
|
|
|
$
|
—
|
|
|
$
|
558.8
|
|
Accounts receivable, net
|
3.6
|
|
|
5.0
|
|
|
729.2
|
|
|
—
|
|
|
737.8
|
|
|||||
Inventories
|
—
|
|
|
271.4
|
|
|
277.0
|
|
|
—
|
|
|
548.4
|
|
|||||
Assets from coal trading activities, net
|
—
|
|
|
87.5
|
|
|
—
|
|
|
(35.1
|
)
|
|
52.4
|
|
|||||
Deferred income taxes
|
—
|
|
|
57.3
|
|
|
2.3
|
|
|
(3.2
|
)
|
|
56.4
|
|
|||||
Other current assets
|
275.0
|
|
|
—
|
|
|
354.6
|
|
|
(7.9
|
)
|
|
621.7
|
|
|||||
Total current assets
|
548.2
|
|
|
421.5
|
|
|
1,652.0
|
|
|
(46.2
|
)
|
|
2,575.5
|
|
|||||
Property, plant, equipment and mine development, net
|
—
|
|
|
5,120.8
|
|
|
6,680.9
|
|
|
—
|
|
|
11,801.7
|
|
|||||
Investments and other assets
|
9,524.7
|
|
|
—
|
|
|
1,037.0
|
|
|
(9,129.9
|
)
|
|
1,431.8
|
|
|||||
Total assets
|
$
|
10,072.9
|
|
|
$
|
5,542.3
|
|
|
$
|
9,369.9
|
|
|
$
|
(9,176.1
|
)
|
|
$
|
15,809.0
|
|
Liabilities and Stockholders’ Equity
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Current liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Current maturities of long-term debt
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
47.8
|
|
|
$
|
—
|
|
|
$
|
47.8
|
|
Payables to (receivables from) affiliates, net
|
2,309.3
|
|
|
(2,904.4
|
)
|
|
595.1
|
|
|
—
|
|
|
—
|
|
|||||
Liabilities from coal trading activities, net
|
—
|
|
|
4.0
|
|
|
50.5
|
|
|
(35.1
|
)
|
|
19.4
|
|
|||||
Deferred income taxes
|
3.2
|
|
|
—
|
|
|
—
|
|
|
(3.2
|
)
|
|
—
|
|
|||||
Accounts payable and accrued expenses
|
63.3
|
|
|
595.0
|
|
|
956.5
|
|
|
(7.9
|
)
|
|
1,606.9
|
|
|||||
Total current liabilities
|
2,375.8
|
|
|
(2,305.4
|
)
|
|
1,649.9
|
|
|
(46.2
|
)
|
|
1,674.1
|
|
|||||
Long-term debt, less current maturities
|
6,114.5
|
|
|
6.6
|
|
|
84.0
|
|
|
—
|
|
|
6,205.1
|
|
|||||
Deferred income taxes
|
43.2
|
|
|
142.0
|
|
|
392.1
|
|
|
—
|
|
|
577.3
|
|
|||||
Notes payable to (receivables from) affiliates, net
|
(3,421.3
|
)
|
|
(1,100.4
|
)
|
|
4,521.7
|
|
|
—
|
|
|
—
|
|
|||||
Other noncurrent liabilities
|
55.8
|
|
|
1,893.9
|
|
|
464.0
|
|
|
—
|
|
|
2,413.7
|
|
|||||
Total liabilities
|
5,168.0
|
|
|
(1,363.3
|
)
|
|
7,111.7
|
|
|
(46.2
|
)
|
|
10,870.2
|
|
|||||
Peabody Energy Corporation’s stockholders’ equity
|
4,904.9
|
|
|
6,905.6
|
|
|
2,224.3
|
|
|
(9,129.9
|
)
|
|
4,904.9
|
|
|||||
Noncontrolling interests
|
—
|
|
|
—
|
|
|
33.9
|
|
|
—
|
|
|
33.9
|
|
|||||
Total stockholders’ equity
|
4,904.9
|
|
|
6,905.6
|
|
|
2,258.2
|
|
|
(9,129.9
|
)
|
|
4,938.8
|
|
|||||
Total liabilities and stockholders’ equity
|
$
|
10,072.9
|
|
|
$
|
5,542.3
|
|
|
$
|
9,369.9
|
|
|
$
|
(9,176.1
|
)
|
|
$
|
15,809.0
|
|
|
December 31, 2011
|
||||||||||||||||||
|
Parent
Company
|
|
Guarantor
Subsidiaries
|
|
Non-Guarantor
Subsidiaries
|
|
Reclassifications/
Eliminations
|
|
Consolidated
|
||||||||||
|
|
|
(Dollars in millions)
|
|
|
||||||||||||||
Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Current assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Cash and cash equivalents
|
$
|
283.2
|
|
|
$
|
0.8
|
|
|
$
|
515.1
|
|
|
$
|
—
|
|
|
$
|
799.1
|
|
Accounts receivable, net
|
5.3
|
|
|
100.8
|
|
|
816.4
|
|
|
—
|
|
|
922.5
|
|
|||||
Inventories
|
—
|
|
|
218.1
|
|
|
226.3
|
|
|
—
|
|
|
444.4
|
|
|||||
Assets from coal trading activities, net
|
—
|
|
|
14.9
|
|
|
29.7
|
|
|
—
|
|
|
44.6
|
|
|||||
Deferred income taxes
|
—
|
|
|
48.0
|
|
|
—
|
|
|
(20.7
|
)
|
|
27.3
|
|
|||||
Other current assets
|
305.1
|
|
|
100.7
|
|
|
362.2
|
|
|
—
|
|
|
768.0
|
|
|||||
Total current assets
|
593.6
|
|
|
483.3
|
|
|
1,949.7
|
|
|
(20.7
|
)
|
|
3,005.9
|
|
|||||
Property, plant, equipment and mine development, net
|
—
|
|
|
4,797.7
|
|
|
6,453.9
|
|
|
—
|
|
|
11,251.6
|
|
|||||
Investments and other assets
|
10,300.8
|
|
|
310.8
|
|
|
1,496.1
|
|
|
(9,632.2
|
)
|
|
2,475.5
|
|
|||||
Total assets
|
$
|
10,894.4
|
|
|
$
|
5,591.8
|
|
|
$
|
9,899.7
|
|
|
$
|
(9,652.9
|
)
|
|
$
|
16,733.0
|
|
Liabilities and Stockholders’ Equity
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Current liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Current maturities of long-term debt
|
$
|
62.5
|
|
|
$
|
—
|
|
|
$
|
38.6
|
|
|
$
|
—
|
|
|
$
|
101.1
|
|
Payables to (receivables from) affiliates, net
|
2,417.8
|
|
|
(2,529.1
|
)
|
|
111.3
|
|
|
—
|
|
|
—
|
|
|||||
Liabilities from coal trading activities, net
|
—
|
|
|
4.2
|
|
|
6.1
|
|
|
—
|
|
|
10.3
|
|
|||||
Deferred income taxes
|
11.6
|
|
|
—
|
|
|
9.1
|
|
|
(20.7
|
)
|
|
—
|
|
|||||
Accounts payable and accrued expenses
|
69.4
|
|
|
868.8
|
|
|
774.1
|
|
|
—
|
|
|
1,712.3
|
|
|||||
Total current liabilities
|
2,561.3
|
|
|
(1,656.1
|
)
|
|
939.2
|
|
|
(20.7
|
)
|
|
1,823.7
|
|
|||||
Long-term debt, less current maturities
|
6,428.8
|
|
|
—
|
|
|
127.6
|
|
|
—
|
|
|
6,556.4
|
|
|||||
Deferred income taxes
|
76.0
|
|
|
95.3
|
|
|
351.9
|
|
|
—
|
|
|
523.2
|
|
|||||
Notes payable to (receivables from) affiliates, net
|
(3,720.0
|
)
|
|
(981.5
|
)
|
|
4,701.5
|
|
|
—
|
|
|
—
|
|
|||||
Other noncurrent liabilities
|
63.2
|
|
|
1,923.6
|
|
|
327.1
|
|
|
—
|
|
|
2,313.9
|
|
|||||
Total liabilities
|
5,409.3
|
|
|
(618.7
|
)
|
|
6,447.3
|
|
|
(20.7
|
)
|
|
11,217.2
|
|
|||||
Peabody Energy Corporation’s stockholders’ equity
|
5,485.1
|
|
|
6,210.5
|
|
|
3,421.7
|
|
|
(9,632.2
|
)
|
|
5,485.1
|
|
|||||
Noncontrolling interests
|
—
|
|
|
—
|
|
|
30.7
|
|
|
—
|
|
|
30.7
|
|
|||||
Total stockholders’ equity
|
5,485.1
|
|
|
6,210.5
|
|
|
3,452.4
|
|
|
(9,632.2
|
)
|
|
5,515.8
|
|
|||||
Total liabilities and stockholders’ equity
|
$
|
10,894.4
|
|
|
$
|
5,591.8
|
|
|
$
|
9,899.7
|
|
|
$
|
(9,652.9
|
)
|
|
$
|
16,733.0
|
|
|
Year Ended December 31, 2012
|
||||||||||||||
|
Parent
Company
|
|
Guarantor
Subsidiaries
|
|
Non-Guarantor
Subsidiaries
|
|
Consolidated
|
||||||||
|
|
|
(Dollars in millions)
|
|
|
||||||||||
Cash Flows From Operating Activities
|
|
|
|
|
|
|
|
|
|
|
|
||||
Net cash provided by (used in) continuing operations
|
$
|
372.0
|
|
|
$
|
1,390.3
|
|
|
$
|
(162.5
|
)
|
|
$
|
1,599.8
|
|
Net cash used in discontinued operations
|
(3.4
|
)
|
|
(11.6
|
)
|
|
(69.7
|
)
|
|
(84.7
|
)
|
||||
Net cash provided by (used in) operating activities
|
368.6
|
|
|
1,378.7
|
|
|
(232.2
|
)
|
|
1,515.1
|
|
||||
Cash Flows From Investing Activities
|
|
|
|
|
|
|
|
|
|
|
|
||||
Additions to property, plant, equipment and mine development
|
—
|
|
|
(237.4
|
)
|
|
(748.6
|
)
|
|
(986.0
|
)
|
||||
Changes in accrued expenses related to capital expenditures
|
—
|
|
|
3.1
|
|
|
101.6
|
|
|
104.7
|
|
||||
Federal coal lease expenditures
|
—
|
|
|
(276.5
|
)
|
|
—
|
|
|
(276.5
|
)
|
||||
Investment in Prairie State Energy Campus
|
—
|
|
|
(10.7
|
)
|
|
—
|
|
|
(10.7
|
)
|
||||
Proceeds from disposal of assets, net of notes receivable
|
—
|
|
|
70.1
|
|
|
77.8
|
|
|
147.9
|
|
||||
Purchases of debt and equity securities
|
—
|
|
|
—
|
|
|
(46.7
|
)
|
|
(46.7
|
)
|
||||
Proceeds from sales of debt and equity securities
|
—
|
|
|
—
|
|
|
46.4
|
|
|
46.4
|
|
||||
Purchases of short-term investments
|
—
|
|
|
—
|
|
|
(4.8
|
)
|
|
(4.8
|
)
|
||||
Contributions to joint ventures
|
—
|
|
|
—
|
|
|
(824.0
|
)
|
|
(824.0
|
)
|
||||
Distributions from joint ventures
|
—
|
|
|
—
|
|
|
823.0
|
|
|
823.0
|
|
||||
Advances to related parties
|
—
|
|
|
—
|
|
|
(148.0
|
)
|
|
(148.0
|
)
|
||||
Repayment of loans from related parties
|
—
|
|
|
—
|
|
|
110.8
|
|
|
110.8
|
|
||||
Other, net
|
—
|
|
|
(6.2
|
)
|
|
—
|
|
|
(6.2
|
)
|
||||
Net cash used in continuing operations
|
—
|
|
|
(457.6
|
)
|
|
(612.5
|
)
|
|
(1,070.1
|
)
|
||||
Net cash used in discontinued operations
|
—
|
|
|
(1.1
|
)
|
|
(20.9
|
)
|
|
(22.0
|
)
|
||||
Net cash used in investing activities
|
—
|
|
|
(458.7
|
)
|
|
(633.4
|
)
|
|
(1,092.1
|
)
|
||||
Cash Flows From Financing Activities
|
|
|
|
|
|
|
|
||||||||
Repayments of long-term debt
|
(379.0
|
)
|
|
(0.4
|
)
|
|
(36.4
|
)
|
|
(415.8
|
)
|
||||
Proceeds from long-term debt
|
—
|
|
|
—
|
|
|
0.8
|
|
|
0.8
|
|
||||
Payment of debt issuance costs
|
(6.9
|
)
|
|
—
|
|
|
—
|
|
|
(6.9
|
)
|
||||
Dividends paid
|
(91.9
|
)
|
|
—
|
|
|
—
|
|
|
(91.9
|
)
|
||||
Common stock repurchase
|
(99.9
|
)
|
|
—
|
|
|
—
|
|
|
(99.9
|
)
|
||||
Repurchase of employee common stock relinquished for tax withholding
|
(8.4
|
)
|
|
—
|
|
|
—
|
|
|
(8.4
|
)
|
||||
Excess tax benefits related to share-based compensation
|
8.3
|
|
|
—
|
|
|
—
|
|
|
8.3
|
|
||||
Acquisition of MCG Coal Holdings Pty Ltd noncontrolling interests
|
—
|
|
|
—
|
|
|
(49.8
|
)
|
|
(49.8
|
)
|
||||
Other, net
|
9.4
|
|
|
(7.5
|
)
|
|
(1.6
|
)
|
|
0.3
|
|
||||
Transactions with affiliates, net
|
186.2
|
|
|
(912.6
|
)
|
|
726.4
|
|
|
—
|
|
||||
Net cash (used in) provided by financing activities
|
(382.2
|
)
|
|
(920.5
|
)
|
|
639.4
|
|
|
(663.3
|
)
|
||||
Net change in cash and cash equivalents
|
(13.6
|
)
|
|
(0.5
|
)
|
|
(226.2
|
)
|
|
(240.3
|
)
|
||||
Cash and cash equivalents at beginning of year
|
283.2
|
|
|
0.8
|
|
|
515.1
|
|
|
799.1
|
|
||||
Cash and cash equivalents at end of year
|
$
|
269.6
|
|
|
$
|
0.3
|
|
|
$
|
288.9
|
|
|
$
|
558.8
|
|
|
Year Ended December 31, 2011
|
||||||||||||||
|
Parent
Company
|
|
Guarantor
Subsidiaries
|
|
Non-Guarantor
Subsidiaries
|
|
Consolidated
|
||||||||
|
|
|
(Dollars in millions)
|
|
|
||||||||||
Cash Flows From Operating Activities
|
|
|
|
|
|
|
|
|
|
|
|
||||
Net cash provided by continuing operations
|
$
|
28.9
|
|
|
$
|
1,513.7
|
|
|
$
|
109.5
|
|
|
$
|
1,652.1
|
|
Net cash provided by (used in) discontinued operations
|
4.4
|
|
|
(0.8
|
)
|
|
(22.5
|
)
|
|
(18.9
|
)
|
||||
Net provided by operating activities
|
33.3
|
|
|
1,512.9
|
|
|
87.0
|
|
|
1,633.2
|
|
||||
Cash Flows From Investing Activities
|
|
|
|
|
|
|
|
|
|
|
|
||||
Additions to property, plant, equipment and mine development
|
—
|
|
|
(350.4
|
)
|
|
(497.0
|
)
|
|
(847.4
|
)
|
||||
Changes in accrued expenses related to capital expenditures
|
—
|
|
|
—
|
|
|
51.2
|
|
|
51.2
|
|
||||
Federal coal lease expenditures
|
—
|
|
|
(42.4
|
)
|
|
—
|
|
|
(42.4
|
)
|
||||
Investment in Prairie State Energy Campus
|
—
|
|
|
(36.2
|
)
|
|
—
|
|
|
(36.2
|
)
|
||||
Proceeds from disposal of assets, net of notes receivable
|
—
|
|
|
34.1
|
|
|
6.0
|
|
|
40.1
|
|
||||
Investments in equity affiliates and joint ventures
|
—
|
|
|
(2.0
|
)
|
|
(37.7
|
)
|
|
(39.7
|
)
|
||||
Purchases of debt and equity securities
|
—
|
|
|
(103.6
|
)
|
|
(44.1
|
)
|
|
(147.7
|
)
|
||||
Proceeds from sales of debt and equity securities
|
—
|
|
|
47.0
|
|
|
57.6
|
|
|
104.6
|
|
||||
Purchases of short-term investments
|
(75.0
|
)
|
|
—
|
|
|
(25.0
|
)
|
|
(100.0
|
)
|
||||
Maturity of short-term investments
|
75.0
|
|
|
—
|
|
|
25.0
|
|
|
100.0
|
|
||||
Acquisition of Macarthur Coal Limited, net of cash acquired
|
—
|
|
|
—
|
|
|
(2,756.7
|
)
|
|
(2,756.7
|
)
|
||||
Contributions to joint ventures
|
—
|
|
|
—
|
|
|
(145.4
|
)
|
|
(145.4
|
)
|
||||
Distributions from joint ventures
|
—
|
|
|
—
|
|
|
128.6
|
|
|
128.6
|
|
||||
Advances to related parties
|
—
|
|
|
—
|
|
|
(371.3
|
)
|
|
(371.3
|
)
|
||||
Repayment of loan from related parties
|
—
|
|
|
—
|
|
|
331.7
|
|
|
331.7
|
|
||||
Other, net
|
—
|
|
|
(6.5
|
)
|
|
(0.1
|
)
|
|
(6.6
|
)
|
||||
Net cash used in continuing operations
|
—
|
|
|
(460.0
|
)
|
|
(3,277.2
|
)
|
|
(3,737.2
|
)
|
||||
Net cash used in discontinued operations
|
—
|
|
|
(8.3
|
)
|
|
(62.3
|
)
|
|
(70.6
|
)
|
||||
Net cash used in investing activities
|
—
|
|
|
(468.3
|
)
|
|
(3,339.5
|
)
|
|
(3,807.8
|
)
|
||||
Cash Flows From Financing Activities
|
|
|
|
|
|
|
|
||||||||
Repayments of long-term debt
|
(243.1
|
)
|
|
—
|
|
|
(20.8
|
)
|
|
(263.9
|
)
|
||||
Proceeds from long-term debt
|
4,100.0
|
|
|
—
|
|
|
1.4
|
|
|
4,101.4
|
|
||||
Payment of debt issuance costs
|
(61.5
|
)
|
|
—
|
|
|
—
|
|
|
(61.5
|
)
|
||||
Dividends paid
|
(92.1
|
)
|
|
—
|
|
|
—
|
|
|
(92.1
|
)
|
||||
Repurchase of employee common stock relinquished for tax withholding
|
(18.7
|
)
|
|
—
|
|
|
—
|
|
|
(18.7
|
)
|
||||
Excess tax benefits related to share-based compensation
|
8.1
|
|
|
—
|
|
|
—
|
|
|
8.1
|
|
||||
Acquisition of PEAMCoal Pty Ltd noncontrolling interests
|
(11.1
|
)
|
|
11.1
|
|
|
(1,994.8
|
)
|
|
(1,994.8
|
)
|
||||
Other, net
|
11.1
|
|
|
(12.0
|
)
|
|
0.9
|
|
|
—
|
|
||||
Transactions with affiliates, net
|
(4,346.6
|
)
|
|
(1,048.1
|
)
|
|
5,394.7
|
|
|
—
|
|
||||
Net cash (used in) provided by financing activities
|
(653.9
|
)
|
|
(1,049.0
|
)
|
|
3,381.4
|
|
|
1,678.5
|
|
||||
Net change in cash and cash equivalents
|
(620.6
|
)
|
|
(4.4
|
)
|
|
128.9
|
|
|
(496.1
|
)
|
||||
Cash and cash equivalents at beginning of year
|
903.8
|
|
|
5.2
|
|
|
386.2
|
|
|
1,295.2
|
|
||||
Cash and cash equivalents at end of year
|
$
|
283.2
|
|
|
$
|
0.8
|
|
|
$
|
515.1
|
|
|
$
|
799.1
|
|
|
Year Ended December 31, 2010
|
||||||||||||||
|
Parent
Company
|
|
Guarantor
Subsidiaries
|
|
Non-Guarantor
Subsidiaries
|
|
Consolidated
|
||||||||
|
|
|
(Dollars in millions)
|
|
|
||||||||||
Cash Flows From Operating Activities
|
|
|
|
|
|
|
|
|
|
|
|
||||
Net cash (used in) provided by continuing operations
|
$
|
(126.4
|
)
|
|
$
|
1,078.4
|
|
|
$
|
152.5
|
|
|
$
|
1,104.5
|
|
Net cash (used in) provided by discontinued operations
|
(14.2
|
)
|
|
9.8
|
|
|
(13.0
|
)
|
|
(17.4
|
)
|
||||
Net cash (used in) provided by operating activities
|
(140.6
|
)
|
|
1,088.2
|
|
|
139.5
|
|
|
1,087.1
|
|
||||
Cash Flows From Investing Activities
|
|
|
|
|
|
|
|
|
|
|
|
||||
Additions to property, plant, equipment and mine development
|
—
|
|
|
(402.6
|
)
|
|
(143.4
|
)
|
|
(546.0
|
)
|
||||
Investment in Prairie State Energy Campus
|
—
|
|
|
(76.0
|
)
|
|
—
|
|
|
(76.0
|
)
|
||||
Proceeds from disposal of assets, net of notes receivable
|
—
|
|
|
14.0
|
|
|
5.1
|
|
|
19.1
|
|
||||
Investments in equity affiliates and joint ventures
|
—
|
|
|
(15.0
|
)
|
|
(3.8
|
)
|
|
(18.8
|
)
|
||||
Purchases of debt and equity securities
|
—
|
|
|
—
|
|
|
(74.6
|
)
|
|
(74.6
|
)
|
||||
Proceeds from sales of debt and equity securities
|
—
|
|
|
—
|
|
|
12.4
|
|
|
12.4
|
|
||||
Other, net
|
—
|
|
|
(8.7
|
)
|
|
(0.1
|
)
|
|
(8.8
|
)
|
||||
Net cash used in continuing operations
|
—
|
|
|
(488.3
|
)
|
|
(204.4
|
)
|
|
(692.7
|
)
|
||||
Net cash used in discontinued operations
|
—
|
|
|
(1.8
|
)
|
|
(9.1
|
)
|
|
(10.9
|
)
|
||||
Net cash used in investing activities
|
—
|
|
|
(490.1
|
)
|
|
(213.5
|
)
|
|
(703.6
|
)
|
||||
Cash Flows From Financing Activities
|
|
|
|
|
|
|
|
|
|
|
|
||||
Repayments of long-term debt
|
(1,146.8
|
)
|
|
—
|
|
|
(20.5
|
)
|
|
(1,167.3
|
)
|
||||
Proceeds from long-term debt
|
1,150.0
|
|
|
—
|
|
|
—
|
|
|
1,150.0
|
|
||||
Payment of debt issuance costs
|
(32.2
|
)
|
|
—
|
|
|
—
|
|
|
(32.2
|
)
|
||||
Dividends paid
|
(79.4
|
)
|
|
—
|
|
|
—
|
|
|
(79.4
|
)
|
||||
Repurchase of employee common stock relinquished for tax withholding
|
(13.5
|
)
|
|
—
|
|
|
—
|
|
|
(13.5
|
)
|
||||
Excess tax benefits related to share-based compensation
|
51.0
|
|
|
—
|
|
|
—
|
|
|
51.0
|
|
||||
Other, net
|
22.3
|
|
|
(5.9
|
)
|
|
(2.1
|
)
|
|
14.3
|
|
||||
Transactions with affiliates, net
|
724.6
|
|
|
(587.2
|
)
|
|
(137.4
|
)
|
|
—
|
|
||||
Net cash provided by (used in) financing activities
|
676.0
|
|
|
(593.1
|
)
|
|
(160.0
|
)
|
|
(77.1
|
)
|
||||
Net change in cash and cash equivalents
|
535.4
|
|
|
5.0
|
|
|
(234.0
|
)
|
|
306.4
|
|
||||
Cash and cash equivalents at beginning of year
|
368.4
|
|
|
0.2
|
|
|
620.2
|
|
|
988.8
|
|
||||
Cash and cash equivalents at end of year
|
$
|
903.8
|
|
|
$
|
5.2
|
|
|
$
|
386.2
|
|
|
$
|
1,295.2
|
|
Description
|
|
Balance at
Beginning of Period |
|
Charged to
Costs and Expenses |
|
Deductions
(1)
|
|
Other
|
|
Balance
at End of Period |
||||||||||
|
|
(Dollars in millions)
|
||||||||||||||||||
Year Ended December 31, 2012
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Reserves deducted from asset accounts:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Advance royalty recoupment reserve
|
|
$
|
21.3
|
|
|
$
|
2.9
|
|
|
$
|
(9.0
|
)
|
(2)
|
$
|
0.1
|
|
(3)
|
$
|
15.3
|
|
Reserve for materials and supplies
|
|
6.5
|
|
|
13.7
|
|
|
(4.2
|
)
|
|
—
|
|
|
16.0
|
|
|||||
Allowance for doubtful accounts
|
|
17.0
|
|
|
(0.5
|
)
|
|
(0.7
|
)
|
|
(2.1
|
)
|
(4)
|
13.7
|
|
|||||
Tax valuation allowances
|
|
79.8
|
|
|
521.5
|
|
|
(77.0
|
)
|
(5)
|
957.5
|
|
(6)
|
1,481.8
|
|
|||||
Year Ended December 31, 2011
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Reserves deducted from asset accounts:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Advance royalty recoupment reserve
|
|
$
|
19.9
|
|
|
$
|
1.8
|
|
|
$
|
(0.1
|
)
|
|
$
|
(0.3
|
)
|
(3)
|
$
|
21.3
|
|
Reserve for materials and supplies
|
|
6.2
|
|
|
3.7
|
|
|
(3.4
|
)
|
|
—
|
|
|
6.5
|
|
|||||
Allowance for doubtful accounts
|
|
30.3
|
|
|
(3.7
|
)
|
|
(0.4
|
)
|
|
(9.2
|
)
|
(4)
|
17.0
|
|
|||||
Tax valuation allowances
|
|
65.0
|
|
|
15.4
|
|
|
—
|
|
|
(0.6
|
)
|
|
79.8
|
|
|||||
Year Ended December 31, 2010
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Reserves deducted from asset accounts:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Advance royalty recoupment reserve
|
|
$
|
17.2
|
|
|
$
|
1.9
|
|
|
$
|
(0.2
|
)
|
|
$
|
1.0
|
|
(3)
|
$
|
19.9
|
|
Reserve for materials and supplies
|
|
6.2
|
|
|
0.9
|
|
|
(0.9
|
)
|
|
—
|
|
|
6.2
|
|
|||||
Allowance for doubtful accounts
|
|
18.3
|
|
|
26.7
|
|
|
(6.9
|
)
|
|
(7.8
|
)
|
(4)
|
30.3
|
|
|||||
Tax valuation allowances
|
|
87.2
|
|
|
(28.7
|
)
|
|
—
|
|
|
6.5
|
|
|
65.0
|
|
(1)
|
Reserves utilized, unless otherwise indicated.
|
(2)
|
Deductions to advance royalty recoupment reserve represents the termination of federal and state leases.
|
(3)
|
Balances transferred (to) from other accounts or reserves recorded as part of a property transaction or acquisition.
|
(4)
|
Represents subsequent recovery of receivable amounts previously reserved.
|
(5)
|
Deductions include write-off of loss carryforwards and reversal of related valuation allowances.
|
(6)
|
Includes changes to valuation allowances primarily related to deferred tax assets acquired in business combinations and initial deferred tax assets resulting from the newly created minerals resource rent tax in Australia.
|
Exhibit No.
|
|
Description of Exhibit
|
|
|
|
3.1
|
|
Third Amended and Restated Certificate of Incorporation of the Registrant, as amended (Incorporated by reference to Exhibit 3.1 to the Registrant's Annual Report on Form 10-K for the year ended December 31, 2011).
|
3.2
|
|
Amended and Restated By-Laws of the Registrant (Incorporated by reference to Exhibit 3.1 of the Registrant's Current Report on Form 8-K, filed September 16, 2008).
|
4.1
|
|
Specimen of stock certificate representing the Registrant's common stock, $.01 par value (Incorporated by reference to Exhibit 4.13 to Amendment No. 4 to the Registrant's Form S-1 Registration Statement No. 333-55412, filed May 1, 2001).
|
4.2
|
|
Indenture, dated as of March 19, 2004, between the Registrant and U.S. Bank National Association, as trustee (Incorporated by reference to Exhibit 4.12 of the Registrant's Quarterly Report on Form 10-Q for the quarter ended March 31, 2004).
|
4.3
|
|
Subordinated Indenture, dated as of December 20, 2006, between the Registrant and U.S. Bank National Association, as trustee (Incorporated by reference to Exhibit 4.1 of the Registrant's Current Report on Form 8-K, filed December 20, 2006).
|
4.4
|
|
Indenture, dated as of November 15, 2011, among Peabody, the Guarantors named therein and U.S. Bank National Association, as trustee, governing the 6.00% Senior Notes Due 2018 and 6.25% Senior Notes Due 2021 (Incorporated by reference to Exhibit 4.1 of the Registrant's Current Report on Form 8-K, filed November 17, 2011).
Pursuant to CFR 229.601(b)(4)(iii), instruments with respect to long-term debt issues have been omitted where the amount of securities authorized under such instruments does not exceed 10% of the total consolidated assets of the Registrant. The Registrant hereby agrees to furnish a copy of any such instrument to the Commission upon its request.
|
10.1
|
|
Credit Agreement, dated as of June 18, 2010, by and among the Registrant, Peabody Holland B.V., Bank of America, N.A., as administrative agent, swing line lender and L/C issuer, and Banc of America Securities LLC, Citigroup Global Markets, Inc. and HSBC Securities (USA) Inc., as joint lead arrangers and joint book managers, and the lenders named therein (Incorporated by reference to Exhibit 10.1 of the Registrant's Current Report on Form 8-K filed on June 24, 2010).
|
10.2
|
|
Amendment No. 1 to Credit Agreement, dated as of October 20, 2011, made by and among the Registrant, Peabody Holland B.V., the lenders named therein and Bank of America, N.A., as administrative agent (Incorporated by reference to Exhibit 10.2 to the Registrant's Annual Report on Form 10-K for the year ended December 31, 2011).
|
10.3
|
|
Amendment No. 2 to Credit Agreement, dated as of November 16, 2012, made by and among the Registrant, Peabody Holland B.V., the lenders named therein and Bank of America, N.A., as administrative agent (Incorporated by reference to Exhibit 10.1 to the Registrant's Current Report on Form 8-K filed on November 19, 2012).
|
10.4
|
|
Credit Agreement, dated as of October 28, 2011, among Peabody Energy Corporation, as borrower, Bank of America, N.A., as administrative agent, Merrill Lynch, Pierce, Fenner & Smith Incorporated, UBS Securities LLC, Morgan Stanley Senior Funding, Inc., Citigroup Global Markets Inc., HSBC Bank (USA) N.A. and RBS Securities Inc., as joint lead arrangers and joint book managers, and the other lenders party thereto (Incorporated by reference to Exhibit 10.1 of the Registrant's Current Report on Form 8-K, filed November 2, 2011).
|
10.5
|
|
Amendment No. 1 to Credit Agreement, dated as of November 16, 2012, made by and among the Registrant, the lenders named therein and Bank of America, N.A., as administrative agent (Incorporated by reference to Exhibit 10.2 to the Registrant's Current Report on Form 8-K filed on November 19, 2012).
|
10.6
|
|
Third Amended and Restated Receivables Purchase Agreement, dated as of January 25, 2010, by and among P&L Receivables Company, LLC, Peabody Energy Corporation, the various Sub-Servicers listed on the signature pages thereto, all Conduit Purchasers listed on the signature pages thereto, all Related Committed Purchasers listed on the signature pages thereto, all Purchaser Agents listed on the signature pages thereto, all LC Participants listed on the signature pages thereto, and PNC Bank, National Association, as Administrator and as LC Bank (Incorporated by reference to Exhibit 10.1 of the Registrant's Current Report on Form 8-K, filed January 27, 2010).
|
Exhibit No.
|
|
Description of Exhibit
|
|
|
|
10.7
|
|
First Amendment to Third Amended and Restated Receivables Purchase Agreement, dated as of March 1, 2010, by and among P&L Receivables Company, LLC, Peabody Energy Corporation, the various Sub-Servicers listed on the signature pages thereto, all Conduit Purchasers listed on the signature pages thereto, all Related Committed Purchasers listed on the signature pages thereto, all Purchaser Agents listed on the signature pages thereto, all LC Participants listed on the signature pages thereto, and PNC Bank, National Association, as Administrator and as LC Bank (Incorporated by reference to Exhibit 10.2 of the Registrant's Quarterly Report on Form 10-Q for the quarter ended March 31, 2010).
|
10.8
|
|
Second Amendment to Third Amended and Restated Receivables Purchase Agreement, dated as of May 11, 2010, by and among P&L Receivables Company, LLC, Peabody Energy Corporation, the various Sub-Servicers listed on the signature pages thereto, all Conduit Purchasers listed on the signature pages thereto, all Related Committed Purchasers listed on the signature pages thereto, all Purchaser Agents listed on the signature pages thereto, all LC Participants listed on the signature pages thereto, and PNC Bank, National Association, as Administrator and as LC Bank (Incorporated by reference to Exhibit 10.1 of the Registrant's Current Report on Form 8-K, filed May 17, 2010).
|
10.9
|
|
Third Amendment to Third Amended and Restated Receivables Purchase Agreement, dated as of September 16, 2010, by and among P&L Receivables Company, LLC, Peabody Energy Corporation, the various Sub-Servicers listed on the signature pages thereto, all Conduit Purchasers listed on the signature pages thereto, all Related Committed Purchasers listed on the signature pages thereto, all Purchaser Agents listed on the signature pages thereto, all LC Participants listed on the signature pages thereto, and PNC Bank, National Association, as Administrator and as LC Bank (Incorporated by reference to Exhibit 10.1 of the Registrant's Quarterly Report on Form 10-Q for the quarter ended September 30, 2010).
|
10.10
|
|
Fourth Amendment to Third Amended and Restated Receivables Purchase Agreement, dated as of May 10, 2011, by and among P&L Receivables Company, LLC, Peabody Energy Corporation, the various Sub-Servicers listed on the signature pages thereto, all Conduit Purchasers listed on the signature pages thereto, all Related Committed Purchasers listed on the signature pages thereto, all Purchaser Agents listed on the signature pages thereto, all LC Participants listed on the signature pages thereto, and PNC Bank, National Association, as Administrator and as LC Bank (Incorporated by reference to Exhibit 10.2 of the Registrant's Quarterly Report on Form 10-Q for the quarter ended June 30, 2011).
|
10.11
|
|
Fifth Amendment to Third Amended and Restated Receivables Purchase Agreement, dated as of October 24, 2011, by and among P&L Receivables Company, LLC, Peabody Energy Corporation, the various Sub-Servicers listed on the signature pages thereto, all Conduit Purchasers listed on the signature pages thereto, all Related Committed Purchasers listed on the signature pages thereto, all Purchaser Agents listed on the signature pages thereto, all LC Participants listed on the signature pages thereto, and PNC Bank, National Association, as Administrator and as LC Bank (Incorporated by reference to Exhibit 10.3 of the Registrant's Quarterly Report on Form 10-Q for the quarter ended September 30, 2012).
|
10.12
|
|
Sixth Amendment to Third Amended and Restated Receivables Purchase Agreement, dated as of May 8, 2012, by and among P&L Receivables Company, LLC, Peabody Energy Corporation, the various Sub-Servicers listed on the signature pages thereto, all Conduit Purchasers listed on the signature pages thereto, all Related Committed Purchasers listed on the signature pages thereto, all Purchaser Agents listed on the signature pages thereto, all LC Participants listed on the signature pages thereto, and PNC Bank, National Association, as Administrator and as LC Bank (Incorporated by reference to Exhibit 10.4 of the Registrant's Quarterly Report on Form 10-Q for the quarter ended September 30, 2012).
|
10.13
|
|
Seventh Amendment to Third Amended and Restated Receivables Purchase Agreement, dated as of September 26, 2012, by and among P&L Receivables Company, LLC, Peabody Energy Corporation, the various Sub-Servicers listed on the signature pages thereto, all Conduit Purchasers listed on the signature pages thereto, all Related Committed Purchasers listed on the signature pages thereto, all Purchaser Agents listed on the signature pages thereto, all LC Participants listed on the signature pages thereto, and PNC Bank, National Association, as Administrator and as LC Bank (Incorporated by reference to Exhibit 10.5 of the Registrant's Quarterly Report on Form 10-Q for the quarter ended September 30, 2012).
|
10.14
|
|
Federal Coal Lease WYW0321779: North Antelope/Rochelle Mine (Incorporated by reference to Exhibit 10.3 of the Registrant's Form S-4 Registration Statement No. 333-59073).
|
10.15
|
|
Federal Coal Lease WYW119554: North Antelope/Rochelle Mine (Incorporated by reference to Exhibit 10.4 of the Registrant's Form S-4 Registration Statement No. 333-59073, filed July 14, 1998).
|
10.16
|
|
Federal Coal Lease WYW5036: Rawhide Mine (Incorporated by reference to Exhibit 10.5 of the Registrant's Form S-4 Registration Statement No. 333-59073, filed July 14, 1998).
|
10.17
|
|
Federal Coal Lease WYW3397: Caballo Mine (Incorporated by reference to Exhibit 10.6 of the Registrant's Form S-4 Registration Statement No. 333-59073, filed July 14, 1998).
|
Exhibit No.
|
|
Description of Exhibit
|
|
|
|
10.18
|
|
Federal Coal Lease WYW83394: Caballo Mine (Incorporated by reference to Exhibit 10.7 of the Registrant's Form S-4 Registration Statement No. 333-59073, filed July 14, 1998).
|
10.19
|
|
Federal Coal Lease WYW136142 (Incorporated by reference to Exhibit 10.8 of Amendment No. 1 to the Registrant's Form S-4 Registration Statement No. 333-59073, filed September 8, 1998).
|
10.20
|
|
Royalty Prepayment Agreement by and among Peabody Natural Resources Company, Gallo Finance Company and Chaco Energy Company, dated September 30, 1998 (Incorporated by reference to Exhibit 10.9 of the Registrant's Quarterly Report on Form 10-Q for the quarter ended September 30, 1998).
|
10.21
|
|
Federal Coal Lease WYW154001: North Antelope Rochelle South (Incorporated by reference to Exhibit 10.68 of the Registrant's Quarterly Report on Form 10-Q for the quarter ended September 30, 2004).
|
10.22
|
|
Federal Coal Lease WYW150210: North Antelope Rochelle Mine (Incorporated by reference to Exhibit 10.8 of the Registrant's Quarterly Report on Form 10-Q for the quarter ended March 31, 2005).
|
10.23
|
|
Federal Coal Lease WYW151134 effective May 1, 2005: West Roundup (Incorporated by reference to Exhibit 10.1 of the Registrant's Quarterly Report on Form 10-Q for the quarter ended June 30, 2005).
|
10.24†
|
|
Federal Coal Lease Readjustment WYW78663: Caballo.
|
10.25†
|
|
Transfer by Assignment and Assumption of Federal Coal Lease WYW172657: Caballo West.
|
10.26†
|
|
Federal Coal Lease WYW176095: Porcupine South.
|
10.27†
|
|
Federal Coal Lease WYW173408: North Porcupine.
|
10.28†
|
|
Federal Coal Lease WYW172413: School Creek.
|
10.29
|
|
Separation Agreement, Plan of Reorganization and Distribution, dated October 22, 2007, between the Registrant and Patriot Coal Corporation (Incorporated by reference to Exhibit 10.1 of the Registrant's Current Report on Form 8-K, filed October 25, 2007).
|
10.30
|
|
Tax Separation Agreement, dated October 22, 2007, between the Registrant and Patriot Coal Corporation (Incorporated by reference to Exhibit 10.2 of the Registrant's Current Report on Form 8-K, filed October 25, 2007).
|
10.31
|
|
Coal Act Liabilities Assumption Agreement, dated October 22, 2007, among Patriot Coal Corporation, Peabody Holding Company, LLC and the Registrant (Incorporated by reference to Exhibit 10.3 of the Registrant's Current Report on Form 8-K, filed October 25, 2007).
|
10.32
|
|
NBCWA Liabilities Assumption Agreement, dated October 22, 2007, among Patriot Coal Corporation, Peabody Holding Company, LLC, Peabody Coal Company, LLC and the Registrant (Incorporated by reference to Exhibit 10.4 of the Registrant's Current Report on Form 8-K, filed October 25, 2007).
|
10.33
|
|
Salaried Employee Liabilities Assumption Agreement, dated October 22, 2007, among Patriot Coal Corporation, Peabody Holding Company, LLC, Peabody Coal Company, LLC and the Registrant (Incorporated by reference to Exhibit 10.5 of the Registrant's Current Report on Form 8-K, filed October 25, 2007).
|
10.34
|
|
Coal Supply Agreement, dated October 22, 2007, between Patriot Coal Sales LLC and COALSALES II, LLC (Incorporated by reference to Exhibit 10.6 of the Registrant's Current Report on Form 8-K, filed October 25, 2007).
|
10.35*
|
|
1998 Stock Purchase and Option Plan for Key Employees of the Registrant (Incorporated by reference to Exhibit 4.9 of the Registrant's Form S-8 Registration Statement No. 333-105456, filed May 21, 2003).
|
10.36*
|
|
Amendment to the 1998 Stock Purchase and Option Plan for Key Employees of the Registrant (Incorporated by reference to Exhibit 10.4 of the Registrant's Current Report on Form 8-K, filed October 17, 2007).
|
10.37*
|
|
Amendment No. 2 to the 1998 Stock Purchase and Option Plan for Key Employees of the Registrant (Incorporated by reference to Exhibit 10.2 of the Registrant's Current Report on Form 8-K, filed December 11, 2007).
|
10.38*
|
|
Form of Non-Qualified Stock Option Agreement under the Registrant's 1998 Stock Purchase and Option Plan for Key Employees (Incorporated by reference to Exhibit 10.15 of the Registrant's Annual Report on Form 10-K for the year ended December 31, 2003).
|
10.39*
|
|
Form of Amendment to Non-Qualified Stock Option Agreement under the Registrant's 1998 Stock Purchase and Option Plan for Key Employees (Incorporated by reference to Exhibit 10.16 of the Registrant's Annual Report on Form 10-K for the year ended December 31, 2003).
|
Exhibit No.
|
|
Description of Exhibit
|
|
|
|
10.40*
|
|
Form of Amendment, dated as of June 15, 2004, to Non-Qualified Stock Option Agreement under the Registrant's 1998 Stock Purchase and Option Plan for Key Employees (Incorporated by reference to Exhibit 10.65 of the Registrant's Quarterly Report on Form 10-Q for the quarter ended June 30, 2004).
|
10.41*
|
|
Form of Incentive Stock Option Agreement under the Registrant's 1998 Stock Purchase and Option Plan for Key Employees (Incorporated by reference to Exhibit 10.17 of the Registrant's Annual Report on Form 10-K for the year ended December 31, 2003).
|
10.42*
|
|
Long-Term Equity Incentive Plan of the Registrant (Incorporated by reference to Exhibit 99.2 of the Registrant's Form S-8 Registration Statement No. 333-61406, filed May 22, 2001).
|
10.43*
|
|
Amendment to the Registrant's 2001 Long-Term Equity Incentive Plan (Incorporated by reference to Exhibit 10.3 of the Registrant's Current Report on Form 8-K, filed October 17, 2007).
|
10.44*
|
|
Form of Non-Qualified Stock Option Agreement under the Registrant's 2001 Long-Term Equity Incentive Plan (Incorporated by reference to Exhibit 10.18 of the Registrant's Annual Report on Form 10-K for the year ended December 31, 2003).
|
10.45*
|
|
Form of Performance Unit Award Agreement under the Registrant's 2001 Long-Term Equity Incentive Plan (Incorporated by reference to Exhibit 10.19 of the Registrant's Annual Report on Form 10-K for the year ended December 31, 2003).
|
10.46*
|
|
Form of Non-Qualified Stock Option Agreement for Outside Directors under the Registrant's 2001 Long-Term Equity Incentive Plan (Incorporated by reference to Exhibit 10.1 to the Registrant's Current Report on Form 8-K, filed December 14, 2005).
|
10.47*
|
|
Form of Restricted Stock Award Agreement for Outside Directors under the Registrant's 2001 Long-Term Equity Incentive Plan (Incorporated by reference to Exhibit 10.2 to the Registrant's Current Report on Form 8-K, filed December 14, 2005).
|
10.48*
|
|
Equity Incentive Plan for Non-Employee Directors of the Registrant (Incorporated by reference to Exhibit 99.3 of the Registrant's Form S-8 Registration Statement No. 333-61406, filed May 22, 2001).
|
10.49*
|
|
Form of Non-Qualified Stock Option Agreement under the Registrant's Equity Incentive Plan for Non-Employee Directors (Incorporated by reference to Exhibit 10.20 of the Registrant's Annual Report on Form 10-K for the year ended December 31, 2003).
|
10.50*
|
|
The Registrant's 2004 Long-Term Equity Incentive Plan (Incorporated by reference to Annex A to the Registrant's Proxy Statement for the 2004 Annual Meeting of Stockholders, filed April 2, 2004).
|
10.51*
|
|
Amendment No. 1 to the Registrant's 2004 Long Term Equity Incentive Plan (Incorporated by reference to Exhibit 10.67 of the Registrant's Quarterly Report on Form 10-Q for the quarter ended September 30, 2004).
|
10.52*
|
|
Amendment No. 2 to the Registrant's 2004 Long-Term Equity Incentive Plan (Incorporated by reference to Exhibit 10.1 of the Registrant's Current Report on Form 8-K, filed October 17, 2007).
|
10.53*
|
|
Amendment No. 3 to the Registrant's 2004 Long-Term Equity Incentive Plan (Incorporated by reference to Exhibit 10.2 of the Registrant's Current Report on Form 8-K, filed October 17, 2007).
|
10.54*
|
|
Amendment No. 4 to the Registrant's 2004 Long-Term Equity Incentive Plan (Incorporated by reference to Exhibit 10.1 of the Registrant's Current Report on Form 8-K, filed December 11, 2007).
|
10.55*
|
|
Form of Non-Qualified Stock Option Agreement under the Registrant's 2004 Long-Term Equity Incentive Plan (Incorporated by reference to Exhibit 10.1 to the Registrant's Current Report on Form 8-K, filed January 7, 2005).
|
10.56*
|
|
Form of Performance Units Agreement under the Registrant's 2004 Long-Term Equity Incentive Plan (Incorporated by reference to Exhibit 10.2 of the Registrant's Current Report on Form 8-K, filed January 7, 2005).
|
10.57*
|
|
Form of Performance Units Agreement under the Registrant's 2004 Long-Term Equity Incentive Plan (Incorporated by reference to Exhibit 10.36 of the Registrant's Annual Report on Form 10-K for the year ended December 31, 2007).
|
10.58*
|
|
Form of Performance Unit Award Agreement under the Registrant's 2004 Long-Term Equity Incentive Plan (Incorporated by reference to Exhibit 10.2 of the Registrant's Quarterly Report on Form 10-Q for the quarter ended June 30, 2009).
|
10.59*
|
|
Form of Deferred Stock Units Agreement for Non-Employee Directors under the Registrant's 2004 Long-Term Equity Incentive Plan (Incorporated by reference to Exhibit 10.43 of the Registrant's Annual Report on Form 10-K for the year ended December 31, 2010).
|
10.60*
|
|
Peabody Energy Corporation 2011 Long-Term Equity Incentive Plan (incorporated by reference to Appendix A of the Registrant's Proxy Statement, filed March 22, 2011).
|
Exhibit No.
|
|
Description of Exhibit
|
|
|
|
10.61*
|
|
Form of Non-Qualified Stock Option Agreement under the Registrant's 2011 Long-Term Equity Incentive Plan (Incorporated by reference to Exhibit 10.59 to the Registrant's Annual Report on Form 10-K for the year ended December 31, 2011).
|
10.62*
|
|
Form of Performance Units Agreement under the Registrant's 2011 Long-Term Equity Incentive Plan. (Incorporated by reference to Exhibit 10.60 to the Registrant's Annual Report on Form 10-K for the year ended December 31, 2011).
|
10.63*
|
|
Form of Restricted Stock Award Agreement under the Registrant's 2011 Long-Term Equity Incentive Plan (Incorporated by reference to Exhibit 10.61 to the Registrant's Annual Report on Form 10-K for the year ended December 31, 2011).
|
10.64*
|
|
Form of Deferred Stock Unit Agreement under the Registrant's 2011 Long-Term Equity Incentive Plan (Incorporated by reference to Exhibit 10.62 to the Registrant's Annual Report on Form 10-K for the year ended December 31, 2011).
|
10.65*
|
|
2009 Amendment entered into effective December 31, 2009 to the Stock Grant Agreement dated as of October 1, 2003 between the Registrant and Gregory H. Boyce (Incorporated by reference to Exhibit 10.45 of the Registrant's Annual Report on Form 10-K for the year ended December 31, 2009).
|
10.66*
|
|
2009 Amendment entered into effective December 31, 2009 to the Non-Qualified Stock Option Agreement dated January 2, 2008 between the Registrant and Gregory H. Boyce (Incorporated by reference to Exhibit 10.46 of the Registrant's Annual Report on Form 10-K for the year ended December 31, 2009).
|
10.67*
|
|
2009 Amendment entered into effective December 31, 2009 to the Non-Qualified Stock Option Agreement dated January 5, 2009 between the Registrant and Gregory H. Boyce (Incorporated by reference to Exhibit 10.47 of the Registrant's Annual Report on Form 10-K for the year ended December 31, 2009).
|
10.68*
|
|
2009 Amendment entered into effective December 31, 2009 to the Performance Units Agreement dated January 2, 2008 between the Registrant and Gregory H. Boyce (Incorporated by reference to Exhibit 10.48 of the Registrant's Annual Report on Form 10-K for the year ended December 31, 2009).
|
10.69*
|
|
2009 Amendment entered into effective December 31, 2009 to the Performance Units Agreement dated January 5, 2009 between the Registrant and Gregory H. Boyce (Incorporated by reference to Exhibit 10.49 of the Registrant's Annual Report on Form 10-K for the year ended December 31, 2009).
|
10.70*
|
|
2010 Amendment entered into effective March 17, 2010, to the 2008 Performance Units Award Agreement dated January 2, 2008 between the Registrant and Gregory H. Boyce (Incorporated by reference to Exhibit 10.3 of the Registrant's Quarterly Report on Form 10-Q for the quarter ended March 31, 2010).
|
10.71*
|
|
2010 Amendment entered into effective March 17, 2010, to the 2009 Performance Units Award Agreement dated January 5, 2009 between the Registrant and Gregory H. Boyce (Incorporated by reference to Exhibit 10.4 of the Registrant's Quarterly Report on Form 10-Q for the quarter ended March 31, 2010).
|
10.72*
|
|
Amended and Restated Employee Stock Purchase Plan of the Registrant (Incorporated by reference to Exhibit 10.44 of the Registrant's Annual Report on Form 10-K for the year ended December 31, 2008).
|
10.73*
|
|
Amendment to the Amended and Restated Employee Stock Purchase Plan of the Registrant (Incorporated by reference to Exhibit 10.51 of the Registrant's Annual Report on Form 10-K for the year ended December 31, 2009).
|
10.74*
|
|
Amended and Restated Australian Employee Stock Purchase Plan of the Registrant (Incorporated by reference to Exhibit 10.45 of the Registrant's Annual Report on Form 10-K for the year ended December 31, 2008).
|
10.75*
|
|
Amendment to the Amended and Restated Australian Employee Stock Purchase Plan of the Registrant (Incorporated by reference to Exhibit 10.53 of the Registrant's Annual Report on Form 10-K for the year ended December 31, 2009).
|
10.76*
|
|
Management Annual Incentive Compensation Plan (Incorporated by reference to Exhibit 10.61 of the Registrant's Annual Report on Form 10-K for the year ended December 31, 2007).
|
10.77*
|
|
2008 Management Annual Incentive Compensation Plan (Incorporated by reference to Appendix B to the Registrant's Proxy Statement for the 2008 Annual Meeting of Shareholders, filed March 27, 2008).
|
10.78*
|
|
The Registrant's Deferred Compensation Plan (Incorporated by reference to Exhibit 10.30 of the Registrant's Quarterly Report on Form 10-Q for the quarter ended September 30, 2001).
|
10.79*
|
|
First Amendment to the Registrant's Deferred Compensation Plan (Incorporated by reference to Exhibit 10.49 of the Registrant's Annual Report on Form 10-K for the year ended December 31, 2004).
|
Exhibit No.
|
|
Description of Exhibit
|
|
|
|
10.80*
|
|
Letter Agreement, dated as of March 1, 2005, by and between the Registrant and Gregory H. Boyce (Incorporated by reference to Exhibit 10.1 of the Registrant's Current Report on Form 8-K, filed March 4, 2005).
|
10.81*
|
|
Restated Employment Agreement effective December 31, 2009 by and between the Registrant and Gregory H. Boyce (Incorporated by reference to Exhibit 10.1 of the Registrant's Current Report on Form 8-K, filed December 24, 2009).
|
10.82*
|
|
Employment Agreement entered into as of December 31, 2008 by and between the Registrant and Michael C. Crews (Incorporated by reference to Exhibit 10.3 of the Registrant's Current Report on Form 8-K, filed December 31, 2008).
|
10.83*
|
|
Letter Agreement, dated as of December 22, 2006, by and between the Registrant and Eric Ford (Incorporated by reference to Exhibit 10.1 of the Registrant's Current Report on Form 8-K, filed December 29, 2006).
|
10.84*
|
|
Form of Restricted Stock Agreement -- Exhibit A (Incorporated by reference to Exhibit 10.3 of the Registrant's Current Report on Form 8-K, filed December 29, 2006).
|
10.85*
|
|
Form of Restricted Stock Agreement -- Exhibit B (Incorporated by reference to Exhibit 10.4 of the Registrant's Current Report on Form 8-K, filed December 29, 2006).
|
10.86*
|
|
Executive Service Agreement entered into on April 1, 2012 between Peabody Energy Australia Coal Pty Limited and Eric Ford (Incorporated by reference to Exhibit 10.1 of the Registrant's Current Report on Form 8-K, filed April 5, 2012).
|
10.87*
|
|
Restated Employment Agreement entered into as of December 31, 2008 by and between the Registrant and Sharon D. Fiehler (Incorporated by reference to Exhibit 10.4 of the Registrant's Current Report on Form 8-K, filed December 31, 2008).
|
10.88*
|
|
Restated Employment Agreement entered into as of January 7, 2013 by and between the Registrant and Charles F. Meintjes. (Incorporated by reference to Exhibit 10.2 to the Registrant's Current Report on Form 8-K, filed January 10, 2013).
|
10.89*†
|
|
Form of Director and Executive Officer Indemnification Agreement between the Registrant and each of its directors and executive officers.
|
10.90*
|
|
Peabody Investments Corp. Supplemental Employee Retirement Account (Incorporated by reference to Exhibit 10.1 of the Registrant's Quarterly Report on Form 10-Q for the quarter ended June 30, 2007).
|
21†
|
|
List of Subsidiaries.
|
23†
|
|
Consent of Ernst & Young LLP, Independent Registered Public Accounting Firm.
|
31.1†
|
|
Certification of periodic financial report by the Registrant's Chief Executive Officer pursuant to Rule 13a-14(a) under the Securities Exchange Act of 1934, as amended pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
|
31.2†
|
|
Certification of periodic financial report by the Registrant's Chief Financial Officer pursuant to Rule 13a-14(a) under the Securities Exchange Act of 1934, as amended pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
|
32.1†
|
|
Certification of periodic financial report pursuant to 18 U.S.C. Section 1350, adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, by the Registrant's Chief Executive Officer.
|
32.2†
|
|
Certification of periodic financial report pursuant to 18 U.S.C. Section 1350, adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, by the Registrant's Chief Financial Officer.
|
95†
|
|
Mine Safety Disclosure required by Item 104 of Regulation S-K.
|
101†
|
|
Interactive Data File (Form 10-K for the year ended December 31, 2012 filed in XBRL). The financial information contained in the XBRL-related documents is “unaudited” and “unreviewed.”
|
*
|
These exhibits constitute all management contracts, compensatory plans and arrangements required to be filed as an exhibit to this form pursuant to Item 15(a)(3) and 15(b) of this report.
|
|
|
†
|
Filed herewith.
|
|
UNITED STATES DEPARTMENT OF THE INTERIOR
Bureau of Land Management
|
|
Serial Number
|
|
|
|
WYW78633
|
||
|
Wyoming State Office
|
|
|
|
|
|
|
Date Lease Issued
|
|
|
Coal Lease Readjustment
|
|
February 1, 1983
|
|
|
|
|
|
|
X
|
The Mineral Leasing Act of 1920, Act of February 25, 1920, as amended, 41 Stat. 437, 30 U.S.C. 181 - 287; hereinafter referred to as the Act;
|
|
T. 48 N., R. 71 W., 6th P.M., Wyoming
|
|
T. 49 N., R. 71 W., 6th P.M., Wyoming
|
||
|
|
Sec. 1: Lots 5 through 20;
|
|
|
Sec. 32: Lots 7 through 10, 16;
|
|
|
Sec. 2: Lots 5 through 20;
|
|
|
Sec. 33: Lots 5 through 16;
|
|
|
Sec. 3: Lots 5 through 20;
|
|
|
Sec. 34: Lots 11 through 15;
|
|
|
Sec. 4: Lots 5 through 20;
|
|
|
|
|
|
Sec. 5: Lots 5, 6, 10 through 15, 18 through 20;
|
|
|
|
|
|
Sec. 8: Lots 1 through 3, 5 through 9, 11 through 13;
|
|
|
|
|
|
Sec. 9: Lots 1 through 8, 10 through 15;
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
XX
|
This lease may be transferred in whole or in part to any person, association or corporation qualified to hold such lease interest.
|
|
|
|
|
|
Recording Requested By
|
|
|
|
And When Recorded Mail To:
|
|
|
|
|
|
|
|
|
SPACE ABOVE THIS LINE FOR RECORDER'S USE
|
|
|
Alpha Wyoming Land Company, LLC,
a Delaware
|
|
|
|
limited liability company
|
|
|
|
|
|
|
|
By:
|
/s/ Steven Rennell
|
|
|
Name:
|
Steven Rennell
|
|
|
Title:
|
Vice President
|
|
|
|
|
|
|
BTU Western Resources, Inc., a Delaware corporation
|
|
|
|
|
|
|
|
By:
|
/s/ Scott Durgin
|
|
|
Name:
|
Scott Durgin
|
|
|
Title:
|
President
|
|
Witness my hand and official seal.
|
|
|
|
|
|
|
|
|
|
/s/ Kendra S. Quick
|
|
|
|
NOTARY PUBLIC
|
|
|
|
|
|
My commission expires:
|
7/31/2016
|
|
|
|
|
|
|
Witness my hand and official seal.
|
|
|
|
|
|
|
|
|
|
/s/ Kendra S. Quick
|
|
|
|
NOTARY PUBLIC
|
|
|
|
|
|
My commission expires:
|
7/31/2016
|
|
|
|
|
|
BUREAU OF LAND MANAGEMENT
|
|||
|
|
|
|
Assignment Approved as to the Lease Described Above:
|
|
|
|
Assignment Approved Effective
|
September 1, 2012
|
|
|
Date Approved:
|
August 30, 2012
|
|
|
|
|
|
|
|
|
By:
|
/s/ Mary Jo Rugwell
|
|
|
Name:
|
Mary Jo Rugwell
|
|
|
Title:
|
Associate State Director
|
|
|
|
|
Form 3400-12
(September 2010)
|
|
|
FORM APPROVED
OMB NO. 1004-0073
Expires: June 30, 2013
|
|
UNITED STATES
|
|
|||
|
DEPARTMENT OF THE INTERIOR
|
|
||
|
BUREAU OF LAND MANAGEMENT
|
|
Serial Number
|
|
|
|
|
|
|
|
COAL LEASE
|
|
WYW172657
|
|
|
|
|
|
|
|
T. 48 N., R. 71 W., 6th P.M., Wyoming
|
|
|
||
|
|
Sec. 7:
Lots 12,19;
|
|
|
|
|
|
Sec. 8:
Lot 10;
|
|
|
|
|
|
Sec. 17:
Lots 1 through 12, 15, 16;
|
|
|
|
|
|
Sec. 18:
Lots 5, 12, 13;
|
|
|
|
|
|
Sec. 20:
Lots 1, 2, 8;
|
|
|
|
|
|
Sec. 21:
Lots 11, 12.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
XX
|
This lease may be transferred in whole or in part to any person, association or corporation qualified to hold such lease interest.
|
|
|
|
|
|
|
|
|
|
THE UNITED STATES OF AMERICA
|
|
|
|
|
|
|
ALPHA WYOMING LAND COMPANY LLC
|
|
By:
|
/s/ Donald A. Simpson
|
|
(Company or Lessee Name)
|
|
|
|
|
|
|
|
|
By:
|
/s/ Steven Rennell
|
|
|
Donald A. Simpson
|
|
(Signature of Lessee)
|
|
|
(BLM)
|
|
|
|
|
|
|
Vice President
|
|
|
State Director
|
|
(Title)
|
|
|
(Title)
|
|
|
|
|
|
|
09/28/11
|
|
|
11/08/11
|
|
(Date)
|
|
|
(Date)
|
|
|
|
|
|
Title 18 U.S.C. Section 1001, makes it a crime for any person knowingly and willfully to make any department or agency of the United States any false, fictitious or fraudulent statements or representations as to any matter within its jurisdiction.
|
One-fifth in the amount of $
|
28,683,480.76
|
|
due on
|
November 1, 2012
|
.
|
|
|
|
|
|
|
One-fifth in the amount of $
|
28,683,480.76
|
|
due on
|
November 1, 2013
|
.
|
|
|
|
|
|
|
One-fifth in the amount of $
|
28,683,480.76
|
|
due on
|
November 1, 2014
|
.
|
|
|
|
|
|
|
One-fifth in the amount of $
|
28,683,480.76
|
|
due on
|
November 1, 2015
|
.
|
|
|
|
|
|
Form 3400-12
(September 2010)
|
|
|
FORM APPROVED
OMB NO. 1004-0073
Expires: June 30, 2013
|
|
UNITED STATES
|
|
|||
|
DEPARTMENT OF THE INTERIOR
|
|
||
|
BUREAU OF LAND MANAGEMENT
|
|
Serial Number
|
|
|
|
|
|
|
|
COAL LEASE
|
|
WYW176095
|
|
|
|
|
|
|
|
T. 41 N., R. 70 W., 6th P.M., Wyoming
|
|
T. 41 N., R. 71 W., 6th P.M., Wyoming
|
||
|
|
Sec. 7:
Lots 7-10, 15-18;
|
|
|
Sec. 1:
Lots 5-20;
|
|
|
Sec. 18:
Lots 6-11, 14-19;
|
|
|
Sec. 12:
Lots 1-16;
|
|
|
|
|
|
Sec. 13:
Lots 1-16;
|
|
|
|
|
|
Sec. 14:
Lots 1, 2, 8, 9, 16, 18;
|
|
|
|
|
|
Sec. 23:
Lots 1, 17;
|
|
|
|
|
|
Sec. 24:
Lots 2-4, 17, 19, 21.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
XX
|
This lease may be transferred in whole or in part to any person, association or corporation qualified to hold such lease interest.
|
|
|
|
|
|
|
|
|
|
THE UNITED STATES OF AMERICA
|
|
|
|
|
|
|
BTU Western Resources, Inc.
|
|
By:
|
/s/ Brenda V. Neuman
|
|
(Company or Lessee Name)
|
|
|
Brenda V. Neuman
|
|
|
|
|
|
By:
|
/s/ Scott Durgin
|
|
for
|
Donald A. Simpson
|
|
(Signature of Lessee)
|
|
|
(BLM)
|
|
|
|
|
|
|
Scott Durgin, President
|
|
|
State Director
|
|
(Title)
|
|
|
(Title)
|
|
|
|
|
|
|
June 8, 2012
|
|
|
July 13, 2012
|
|
(Date)
|
|
|
(Date)
|
|
|
|
|
|
Title 18 U.S.C. Section 1001, makes it a crime for any person knowingly and willfully to make any department or agency of the United States any false, fictitious or fraudulent statements or representations as to any matter within its jurisdiction.
|
One-fifth in the amount of $
|
89,206,372.78
|
|
due on
|
August 1, 2013
|
.
|
|
|
|
|
|
|
One-fifth in the amount of $
|
89,206,372.78
|
|
due on
|
August 1, 2014
|
.
|
|
|
|
|
|
|
One-fifth in the amount of $
|
89,206,372.78
|
|
due on
|
August 1, 2015
|
.
|
|
|
|
|
|
|
One-fifth in the amount of $
|
89,206,372.78
|
|
due on
|
August 1, 2016
|
.
|
|
|
|
|
|
|
|
|
R2-FS-2820-13 (92)
|
Serial No.
|
WYW176095
|
|
|
|
3.
|
Implement mitigation measures required by the FS and BLM to preserve or avoid destruction of cultural resource values. Mitigation may include relocation of proposed facilities, testing, salvage, and recordation or other protective measures. All costs of the inventory and mitigation will be borne by the lessee or operator, and all data and materials salvaged will remain under the jurisdiction of the U.S. Government as appropriate.
|
|
|
/s/ Scott Durgin
|
|
Signature of Licensee/Permittee/Lessee
|
|
|
|
Form 3400-12
(September 2010)
|
|
|
FORM APPROVED
OMB NO. 1004-0073
Expires: June 30, 2013
|
|
UNITED STATES
|
|
|||
|
DEPARTMENT OF THE INTERIOR
|
|
||
|
BUREAU OF LAND MANAGEMENT
|
|
Serial Number
|
|
|
|
|
|
|
|
COAL LEASE
|
|
WYW173408
|
|
|
|
|
|
|
|
T. 42 N., R. 70 W., 6th P.M. Wyoming
|
|
T. 42 N., R. 71 W., 6th P.M. Wyoming
|
||
|
|
Sec. 19: Lots 9 through 20;
|
|
|
Sec. 22: Lots 20, 21, 24;
|
|
|
Sec. 20: Lots 5 through 16;
|
|
|
Sec. 23: Lots 5 through 16;
|
|
|
Sec. 21: Lots 1 through 16;
|
|
|
Sec. 24: Lots 5 through 16;
|
|
|
Sec. 22: Lots 3 through 6, 9 through 16;
|
|
|
Sec. 25: Lots 1 through 4;
|
|
|
Sec. 26: Lots 3 through 6, 9 through 16;
|
|
|
Sec. 26: Lots 1 through 6, 11 through 14;
|
|
|
Sec. 27: Lots 1 through 16;
|
|
|
Sec. 27: Lots 9, 15 through 17, 20, 22, 23, 25, 28, 30;
|
|
|
Sec. 28: Lots 1 through 4;
|
|
|
Sec. 34: Lots 1 through 1 2;
|
|
|
Sec. 29: Lots 1 through 4;
|
|
|
Sec. 35: Lots 3 through 6, 11 through 14;
|
|
|
Sec. 30: Lots 5 through 8;
|
|
|
|
|
|
|
|
|
|
XX
|
This lease may be transferred in whole or in part to any person, association or corporation qualified to hold such lease interest.
|
|
|
|
|
|
|
|
|
|
THE UNITED STATES OF AMERICA
|
|
|
|
|
|
|
BTU Western Resources, Inc.
|
|
By:
|
/s/ Donald A. Simpson
|
|
(Company or Lessee Name)
|
|
|
|
|
|
|
|
|
By:
|
/s/ Scott Durgin
|
|
|
Donald A. Simpson
|
|
(Signature of Lessee)
|
|
|
(BLM)
|
|
|
|
|
|
|
Scott Durgin, President
|
|
|
State Director
|
|
(Title)
|
|
|
(Title)
|
|
|
|
|
|
|
July 13, 2012
|
|
|
September 10, 2012
|
|
(Date)
|
|
|
(Date)
|
|
|
|
|
|
Title 18 U.S.C. Section 1001, makes it a crime for any person knowingly and willfully to make any department or agency of the United States any false, fictitious or fraudulent statements or representations as to any matter within its jurisdiction.
|
One-fifth in the amount of $
|
158,654,062.16
|
|
due on
|
October 1, 2013
|
.
|
|
|
|
|
|
|
One-fifth in the amount of $
|
158,654,062.16
|
|
due on
|
October 1, 2014
|
.
|
|
|
|
|
|
|
One-fifth in the amount of $
|
158,654,062.16
|
|
due on
|
October 1, 2015
|
.
|
|
|
|
|
|
|
One-fifth in the amount of $
|
158,654,062.16
|
|
due on
|
October 1, 2016
|
.
|
|
|
|
|
|
|
|
|
R2-FS-2820-13 (92)
|
Serial No.
|
WYW173408
|
|
|
|
3.
|
Implement mitigation measures required by the FS and BLM to preserve or avoid destruction of cultural resource values. Mitigation may include relocation of proposed facilities, testing, salvage, and recordation or other protective measures. All costs of the inventory and mitigation will be borne by the lessee or operator, and all data and materials salvaged will remain under the jurisdiction of the U.S. Government as appropriate.
|
|
|
/s/ Scott Durgin
|
|
Signature of Licensee/Permittee/Lessee
|
|
|
|
|
|
|
Serial Number
|
|
|
|
|
|
|
|
|
|
WYW172413
|
|
|
UNITED STATES
|
|
December 1, 1966
|
|
|
|
|
||
|
DEPARTMENT OF THE INTERIOR
|
|
|
|
|
BUREAU OF LAND MANAGEMENT
|
|
|
|
|
|
|
|
|
|
MODIFIED COAL LEASE
|
|
|
|
|
|
|
|
|
X
|
This lease may be transferred in whole or in part to any person, association or corporation qualified to hold such lease interest.
|
_
|
This lease may be transferred in whole or in part to another public body, or to a person who will mine the coal on behalf of, and for the use of, the public body or to a person who for the limited purpose of creating a security interest in favor of a lender agrees to be obligated to mine the coal on behalf of the public body.
|
_
|
This lease may only be transferred in whole or in part to another small business qualified under 13 CFR121.
|
|
|
|
|
|
|
SCHOOL CREEK COAL RESOURCES, LLC
|
|
|
THE UNITED STATES OF AMERICA
|
|
|
|
|
|
By:
|
/s/ Scott Durgin
|
|
By:
|
/s/ Larry Claypool
|
|
|
|
|
|
|
Scott Durgin, President
|
|
|
Deputy State Director Minerals and Lands
|
|
(Title)
|
|
|
(Title)
|
|
|
|
|
|
|
8/21/2012
|
|
|
9/7/2012
|
|
(Date)
|
|
|
(Date)
|
|
|
|
|
|
Title 18 U.S.C. Section 1001, makes it a crime for any person knowingly and willfully to make any department or agency of the United States any false, fictitious or fraudulent statements or representations as to any matter within its jurisdiction.
|
|
|
|
R2-FS-2820-13 (92)
|
Serial No.
|
WYW172413
|
|
|
|
1.
|
Contact the FS to determine if a site specific cultural or paleontological resource inventory is required. If a survey is required, then:
|
2.
|
Engage the services of a cultural resource specialist and/or paleontologist acceptable to the FS to conduct a cultural resource or paleontological inventory of the area of proposed surface disturbance. The operator may elect to inventory an area larger than the area of the proposed disturbance to cover possible site relocation, which may result from environmental to the FS for review and approval at the time of a surface disturbing plan of operation is submitted.
|
3.
|
Implement mitigation measures required by the FS and BLM to preserve or avoid destruction of cultural paleontological resource of values.
|
|
|
/s/ Scott Durgin
|
|
Signature of
|
|
Licensee/Permittee/Lessee
|
|
|
|
Scott Durgin, President
|
|
|
|
Name of Subsidiary
|
State or Other Jurisdiction of Formation
|
9 East Shipping Limited
|
UK
|
American Land Development, LLC
|
Delaware
|
American Land Holdings of Colorado, LLC
|
Delaware
|
American Land Holdings of Illinois, LLC
|
Delaware
|
American Land Holdings of Indiana, LLC
|
Delaware
|
American Land Holdings of Kentucky, LLC
|
Delaware
|
American Land Holdings of West Virginia, LLC
|
Delaware
|
Arid Operations, Inc.
|
Delaware
|
Big Ridge, Inc.
|
Illinois
|
Big Sky Coal Company
|
Delaware
|
Black Hills Mining Company, LLC
|
Illinois
|
Bowen Basin Coal Joint Venture
|
Australia
|
BTU International BV
|
Netherlands
|
BTU Western Resources, Inc.
|
Delaware
|
Burton Coal Pty Ltd.
|
Australia
|
Caballo Grande, LLC
|
Delaware
|
Capricorn Joint Venture
|
Australia
|
Carbones Peabody de Venezuela S.A.
|
Venezuela
|
Caseyville Dock Company, LLC
|
Delaware
|
Central States Coal Reserves of Illinois, LLC
|
Delaware
|
Central States Coal Reserves of Indiana, LLC
|
Delaware
|
Century Mineral Resources, Inc.
|
Illinois
|
Coal Reserve Holding LLC No. 1
|
Delaware
|
Coalsales II, LLC
|
Delaware
|
Colorado Yampa Coal Company
|
Delaware
|
Complejo Siderurgico Del Lago, CA
|
Venezuela
|
Conexcel 1 Pty Ltd.
|
Australia
|
Conservancy Resources, LLC
|
Delaware
|
Coppabella and Moorvale Joint Venture
|
Australia
|
Cottonwood Land Company
|
Delaware
|
Cyprus Creek Land Company
|
Delaware
|
Cyprus Creek Land Resources LLC
|
Delaware
|
Desarrollos Venshelf IV, CA
|
Venezuela
|
Dyson Creek Coal Company, LLC
|
Delaware
|
Dyson Creek Mining Company, LLC
|
Delaware
|
El Segundo Coal Company, LLC
|
Delaware
|
Elkland Holdings, LLC
|
Delaware
|
Excel Equities International Pty Ltd.
|
Australia
|
Excelven Pty Ltd.
|
B.V.I.
|
Falcon Coal Company, LLC
|
Indiana
|
Gallo Finance Company
|
Delaware
|
Gold Fields Chile, LLC
|
Delaware
|
Gold Fields Mining, LLC
|
Delaware
|
Gold Fields Ortiz, LLC
|
Delaware
|
Hayden Gulch Terminal, LLC
|
Delaware
|
Helensburgh Coal Pty Ltd.
|
Australia
|
Highwall Mining Service Company
|
Delaware
|
Hillside Recreational Lands, LLC
|
Delaware
|
HMC Mining LLC
|
Delaware
|
Illinois Land Holdings, LLC
|
Illinois
|
Independence Material Handling, LLC
|
Delaware
|
James River Coal Terminal, LLC
|
Delaware
|
Juniper Coal Company
|
Delaware
|
Kayenta Mobile Home Park, Inc.
|
Delaware
|
Kentucky Syngas, LLC
|
Delaware
|
Kentucky United Coal LLC
|
Indiana
|
Lively Grove Energy Partners, LLC
|
Delaware
|
Lively Grove Energy, LLC
|
Delaware
|
Marigold Electricity, LLC
|
Delaware
|
Metropolitan Collieries Pty Ltd.
|
Australia
|
Midco Supply and Equipment Corporation
|
Illinois
|
Middlemount Coal Pty Ltd
|
Australia
|
Middlemount Mine Management Pty Ltd
|
Australia
|
Midwest Coal Acquisition Corp.
|
Delaware
|
Midwest Coal Reserves of Illinois, LLC
|
Delaware
|
Midwest Coal Reserves of Indiana, LLC
|
Delaware
|
Midwest Coal Reserves of Kentucky, LLC
|
Delaware
|
Millennium Coal Pty Ltd.
|
Australia
|
Moffat County Mining, LLC
|
Delaware
|
Monto Coal 2 Pty Ltd
|
Australia
|
Monto Coal Joint Venture
|
Australia
|
Moorvale West Joint Venture
|
Australia
|
Mustang Clean Energy, LLC
|
Delaware
|
Mustang Energy Company, LLC
|
Delaware
|
New Mexico Coal Resources, LLC
|
Delaware
|
Newhall Funding Company (MBT)
|
Massachusetts
|
North Goonyella Coal Mines Pty Ltd.
|
Australia
|
North Wambo Pty Ltd.
|
Australia
|
Olive Downs South Joint Venture
|
Australia
|
P&L Receivables Company LLC
|
Delaware
|
Pacific Export Resources, LLC
|
Delaware
|
Peabody (Bowen) Pty Ltd.
|
Australia
|
Peabody (Burton Coal) Pty Ltd.
|
Australia
|
Peabody (Horse Creek) Pty Ltd.
|
Australia
|
Peabody (Kogan Creek) Pty Ltd.
|
Australia
|
Peabody (Wilkie Creek) Pty Ltd.
|
South Australia
|
Peabody Acquisition Co. No. 2 Pty Ltd.
|
Australia
|
Peabody Acquisition Co. No. 5 Pty Ltd
|
Australia
|
Peabody Acquisition Cooperative U.A.
|
Netherlands
|
Peabody AMBV2 B.V.
|
Netherlands
|
Peabody America, Inc.
|
Delaware
|
Peabody Archveyor, LLC
|
Delaware
|
Peabody Arclar Mining, LLC
|
Delaware
|
Peabody Australia Holdco Pty Ltd.
|
Australia
|
Peabody Australia Intermediate Pty Ltd
|
Australia
|
Peabody Australia Mining Pty Ltd.
|
Australia
|
Peabody BB Interests Pty Ltd
|
Australia
|
Peabody Bear Run Mining, LLC
|
Delaware
|
Peabody Bear Run Services, LLC
|
Delaware
|
Peabody Bistrotel Pty Ltd
|
Australia
|
Peabody Budjero Holdings Pty Ltd
|
Australia
|
Peabody Budjero Pty Ltd
|
Australia
|
Peabody Caballo Mining, LLC
|
Delaware
|
Peabody Capricorn Pty Ltd
|
Australia
|
Peabody Cardinal Gasification, LLC
|
Delaware
|
Peabody China, LLC
|
Delaware
|
Peabody Coal Venezuela Ltd.
|
Bermuda
|
Peabody Coalsales Australia Pty Ltd.
|
Australia
|
Peabody Coalsales, LLC
|
Delaware
|
Peabody Coaltrade Asia Private Ltd.
|
Singapore
|
Peabody Coaltrade Australia Pty Ltd.
|
Australia
|
Peabody Coaltrade GmbH
|
Germany
|
Peabody Coaltrade India Private Ltd
|
India
|
Peabody Coaltrade International (CTI), LLC
|
Delaware
|
Peabody Coaltrade International Limited
|
UK
|
Peabody Coaltrade, LLC
|
Delaware
|
Peabody Colorado Operations, LLC
|
Delaware
|
Peabody Colorado Services, LLC
|
Delaware
|
Peabody Coppabella Coal Pty Ltd
|
Australia
|
Peabody Coulterville Mining, LLC
|
Delaware
|
Peabody Custom Mining Ltd
|
Australia
|
Peabody Development Company, LLC
|
Delaware
|
Peabody Electricity, LLC
|
Delaware
|
Peabody Employment Services, LLC
|
Delaware
|
Peabody Energy (Botswana) (Proprietary) Limited
|
Botswana
|
Peabody Energy (Gibraltar) Limited
|
Gibraltar
|
Peabody Energy (Gibraltar) Limited and S.C.S.
|
Luxembourg
|
Peabody Energy Australia Coal Pty Ltd.
|
Australia
|
Peabody Energy Australia PCI (C&M Equipment) Pty Ltd
|
Australia
|
Peabody Energy Australia PCI (C&M Management) Pty Ltd
|
Australia
|
Peabody Energy Australia PCI Berrigurra Pty Ltd
|
Australia
|
Peabody Energy Australia PCI Equipment Pty Ltd
|
Australia
|
Peabody Energy Australia PCI Exporation Pty Ltd
|
Australia
|
Peabody Energy Australia PCI Financing Pty Ltd
|
Australia
|
Peabody Energy Australia PCI Management Pty Ltd
|
Australia
|
Peabody Energy Australia PCI Mine Management Pty Ltd
|
Australia
|
Peabody Energy Australia PCI Pty Ltd
|
Australia
|
Peabody Energy Australia PCI Rush Pty Ltd
|
Australia
|
Peabody Energy Australia Pty Ltd
|
Australia
|
Peabody Energy Finance Pty Ltd.
|
Australia
|
Peabody Energy Generation Holding Company
|
Delaware
|
Peabody Energy Investments, Inc.
|
Delaware
|
Peabody Energy Solutions, Inc.
|
Delaware
|
Peabody Gateway North Mining, LLC
|
Delaware
|
Peabody Gateway Services, LLC
|
Delaware
|
Peabody Global Services Pte Ltd.
|
Singapore
|
Peabody Gobi LLC
|
Mongolia
|
Peabody Holding Company, LLC
|
Delaware
|
Peabody Holdings (Gibraltar) Limited
|
Gibraltar
|
Peabody Holland BV
|
Netherlands
|
Peabody Illinois Services, LLC
|
Delaware
|
Peabody Indiana Services, LLC
|
Delaware
|
Peabody International (Gibraltar) Limited
|
Gibraltar
|
Peabody International Investments, Inc.
|
Delaware
|
Peabody International Services, Inc.
|
Delaware
|
Peabody Investment & Development Business Services Beijing Co., Ltd.
|
China
|
Peabody Investments (Australia) B.V.
|
Netherlands
|
Peabody Investments (Gibraltar) Limited
|
Gibraltar
|
Peabody Investments Corp.
|
Delaware
|
Peabody Investments Pte Ltd.
|
Singapore
|
Peabody Magnolia Grove Holdings, LLC
|
Delaware
|
Peabody MCC (Gibraltar) Limited
|
Gibraltar
|
Peabody MCC Holdco Pty Ltd.
|
Australia
|
Peabody Midwest Management Services, LLC
|
Delaware
|
Peabody Midwest Mining, LLC
|
Indiana
|
Peabody Midwest Operations, LLC
|
Delaware
|
Peabody Midwest Services, LLC
|
Delaware
|
Peabody Mining (Gibraltar) Limited
|
Gibraltar
|
Peabody Mongolia, LLC
|
Delaware
|
Peabody Monto Coal Pty Ltd
|
Australia
|
Peabody Moorvale West Pty Ltd
|
Australia
|
Peabody Mozambique, Limitada
|
Mozambique
|
Peabody Natural Gas, LLC
|
Delaware
|
Peabody Natural Resources Company
|
Delaware
|
Peabody Netherlands Holding B.V.
|
Netherlands
|
Peabody New Mexico Services, LLC
|
Delaware
|
Peabody Olive Downs Pty Ltd
|
Australia
|
Peabody Operations Holding, LLC
|
Delaware
|
Peabody Pastoral Holdings Pty Ltd.
|
Australia
|
Peabody Powder River Mining, LLC
|
Delaware
|
Peabody Powder River Operations, LLC
|
Delaware
|
Peabody Powder River Services, LLC
|
Delaware
|
Peabody PowerTree Investments LLC
|
Delaware
|
Peabody Queensland Coke & Energy Pty Ltd
|
Australia
|
Peabody Recreational Lands LLC
|
Delaware
|
Peabody Rocky Mountain Management Services, LLC
|
Delaware
|
Peabody Rocky Mountain Services, LLC
|
Delaware
|
Peabody Sage Creek Mining, LLC
|
Delaware
|
Peabody School Creek Mining, LLC
|
Delaware
|
Peabody Services Holding, LLC
|
Delaware
|
Peabody Southwest, LLC
|
Delaware
|
Peabody Southwestern Coal Company
|
Delaware
|
Peabody Terminal Holding Company, Inc.
|
Delaware
|
Peabody Terminals, LLC
|
Delaware
|
Peabody Trout Creek Reservoir LLC
|
Delaware
|
Peabody Twentymile Mining, LLC
|
Delaware
|
Peabody Venezuela Coal Corporation
|
Delaware
|
Peabody Venture Fund, LLC
|
Delaware
|
Peabody West Burton Pty Ltd
|
Australia
|
Peabody West Rolleston Pty Ltd
|
Australia
|
Peabody West Walker Pty Ltd
|
Australia
|
Peabody Western Coal Company
|
Delaware
|
Peabody Wild Boar Mining, LLC
|
Delaware
|
Peabody Wild Boar Services, LLC
|
Delaware
|
Peabody Williams Fork Mining, LLC
|
Delaware
|
Peabody Wyoming Gas, LLC
|
Delaware
|
Peabody Wyoming Services, LLC
|
Delaware
|
Peabody-Waterside Development LLC
|
Delaware
|
PEAMCoal Holdings Pty Ltd.
|
Australia
|
PEAMCoal Pty Ltd.
|
Australia
|
PEC Equipment Company, LLC
|
Delaware
|
PG Investments Six LLC
|
Delaware
|
Point Pleasant Dock Company LLC
|
Delaware
|
Pond River Land Company
|
Delaware
|
Porcupine Production LLC
|
Delaware
|
Porcupine Transportation LLC
|
Delaware
|
PT Peabody Coaltrade Indonesia
|
Indonesia
|
PT Peabody Mining Services
|
Indonesia
|
Ribfield Pty Ltd
|
Australia
|
Riverview Terminal Company
|
Delaware
|
Sage Creek Holdings, LLC
|
Delaware
|
School Creek Coal Resources, LLC
|
Delaware
|
Seneca Coal Company, LLC
|
Delaware
|
Shoshone Coal Corporation
|
Delaware
|
Star Lake Energy Company LLC
|
Delaware
|
1.
|
I have reviewed this annual report on Form 10-K of Peabody Energy Corporation (“the registrant”);
|
2.
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
3.
|
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
|
4.
|
The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
|
(a)
|
designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
|
(b)
|
designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
(c)
|
evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
|
(d)
|
disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and
|
5.
|
The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):
|
(a)
|
all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and
|
(b)
|
any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.
|
/s/ Gregory H. Boyce
|
|
Gregory H. Boyce
|
|
Chairman and Chief Executive Officer
|
|
1.
|
I have reviewed this annual report on Form 10-K of Peabody Energy Corporation (“the registrant”);
|
2.
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
3.
|
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
|
4.
|
The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
|
(a)
|
designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
|
(b)
|
designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
(c)
|
evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
|
(d)
|
disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and
|
5.
|
The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):
|
(a)
|
all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and
|
(b)
|
any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.
|
/s/ Michael C. Crews
|
|
Michael C. Crews
|
|
Executive Vice President and Chief Financial Officer
|
|
(1)
|
the Annual Report on Form 10-K for the annual period ended
December 31, 2012
(the “Periodic Report”) which this statement accompanies fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and
|
(2)
|
information contained in the Periodic Report fairly presents, in all material respects, the financial condition and results of operations of Peabody Energy Corporation.
|
/s/ Gregory H. Boyce
|
|
Gregory H. Boyce
|
|
Chairman and Chief Executive Officer
|
|
(1)
|
the Annual Report on Form 10-K for the annual period ended
December 31, 2012
(the “Periodic Report”) which this statement accompanies fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and
|
(2)
|
information contained in the Periodic Report fairly presents, in all material respects, the financial condition and results of operations of Peabody Energy Corporation.
|
/s/ Michael C. Crews
|
|
Michael C. Crews
|
|
Executive Vice President and Chief Financial Officer
|
|
•
|
Section 104 S&S Violations
: The total number of violations received from MSHA under section 104(a) of the Mine Act that could significantly and substantially contribute to a serious injury if left unabated. In our prior year annual report, all violations received from MSHA under section 104(a) of the Mine Act, not limited to those that could significantly and substantially contribute to a serious injury if left unabated, were shown.
|
•
|
Section 104(b)Orders
: The total number of orders issued by MSHA under section 104(b) of the Mine Act, which represents a failure to abate a citation under section 104(a) within the period of time prescribed by MSHA. This results in an order of immediate withdrawal from the area of the mine affected by the condition until MSHA determines that the violation has been abated.
|
•
|
Section 104(d)Citations and Orders
: The total number of citations and orders issued by MSHA under section 104(d) of the Mine Act for unwarrantable failure to comply with mandatory health or safety standards.
|
•
|
Section 104(e) Notices
: The total number of notices issued by MSHA under section 104(e) of the Mine Act for a pattern of violations that could contribute to mine health or safety hazards.
|
•
|
Section 110(b)(2)Violations
: The total number of flagrant violations issued by MSHA under section 110(b)(2) of the Mine Act.
|
•
|
Section 107(a)Orders
: The total number of orders issued by MSHA under section 107(a) of the Mine Act for situations in which MSHA determined an imminent danger existed.
|
•
|
Proposed MSHA Assessments
: The total dollar value of proposed assessments from MSHA.
|
•
|
Fatalities
: The total number of related fatalities.
|
|
|
Section
104 S&S
Violations
|
|
Section
104(b)
Orders
|
|
Section
104(d)
Citations and
Orders
|
|
Section
104(e)
Potential Pattern
of Violations
|
|
Section
110(b)(2)
Violations
|
|
Section
107(a)
Orders
|
|
($)
Proposed
MSHA
Assessments
|
|
|
||||||||
Mine
(1)
|
|
|
|
|
|
|
|
|
Fatalities
|
|||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(In thousands)
|
|
|
||||||||
Western U.S. Mining
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Caballo
|
|
3
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1
|
|
|
6.1
|
|
|
—
|
|
El Segundo
|
|
11
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
20.8
|
|
|
—
|
|
Kayenta
|
|
25
|
|
|
1
|
|
|
16
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
152.9
|
|
|
—
|
|
Lee Ranch
|
|
9
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
14.1
|
|
|
—
|
|
North Antelope Rochelle
|
|
5
|
|
|
—
|
|
|
1
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
56.6
|
|
|
—
|
|
Peabody Williams Fork Mining, LLC
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
0.3
|
|
|
|
|
Rawhide
|
|
10
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
21.3
|
|
|
—
|
|
Sage Creek
(2)
|
|
4
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
2.4
|
|
|
—
|
|
Twentymile (Foidel Creek)
|
|
47
|
|
|
2
|
|
|
4
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
240.4
|
|
|
—
|
|
Midwestern U.S. Mining
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Air Quality
(3)
|
|
94
|
|
|
—
|
|
|
2
|
|
|
—
|
|
|
—
|
|
|
1
|
|
|
948.8
|
|
|
—
|
|
Bear Run
|
|
9
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
20.0
|
|
|
—
|
|
Cottage Grove (Wildcat Hills-Cottage Grove Pit)
|
|
3
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
2.8
|
|
|
—
|
|
Farmersburg
(3)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
0.5
|
|
|
—
|
|
Francisco Surface
(3)
|
|
2
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
3.0
|
|
|
—
|
|
Francisco Underground
|
|
91
|
|
|
—
|
|
|
1
|
|
|
—
|
|
|
—
|
|
|
1
|
|
|
571.1
|
|
|
—
|
|
Gateway
|
|
46
|
|
|
—
|
|
|
1
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
380.4
|
|
|
—
|
|
Gateway Preparation Plant
|
|
2
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1.6
|
|
|
—
|
|
Midwest Repair Facility (Columbia Maintenance Services)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
0.1
|
|
|
—
|
|
Somerville Central
|
|
2
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
4.2
|
|
|
—
|
|
Viking - Corning
|
|
12
|
|
|
—
|
|
|
3
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
47.8
|
|
|
—
|
|
Wild Boar
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
0.2
|
|
|
—
|
|
Wildcat Hills Underground
|
|
33
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
192.7
|
|
|
—
|
|
Willow Lake Central Preparation Plant
|
|
3
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
2.8
|
|
|
—
|
|
Willow Lake Portal
(3)
|
|
172
|
|
|
1
|
|
|
10
|
|
|
—
|
|
|
—
|
|
|
1
|
|
|
2,190.4
|
|
|
1
|
|
(1)
|
The definition of mine under section 3 of the Mine Act includes the mine, as well as other items used in, or to be used in, or resulting from, the work of extracting coal, such as land, structures, facilities, equipment, machines, tools and coal preparation facilities. Also, there are instances where the mine name per the MSHA system differs from the mine name utilized by us. Where applicable, we have parenthetically listed the name of the mine per the MSHA system. Also, all mines are listed alphabetically within each of our U.S. mining segments
|
(2)
|
Mine has yet to commence operations.
|
(3)
|
Mine was closed as of December 31, 2012. The Farmersburg and Francisco Surface mines were closed in 2010 and 2009, respectively, due to exhaustion of reserves from those mines. The Air Quality Mine was closed in 2012 due to uneconomic market conditions for the type of coal product previously produced at that site. The Willow Lake Mine closure is discussed below.
|
•
|
Contests of Citations and Orders
: A contest proceeding may be filed with the Commission by operators, miners or miners’ representatives to challenge the issuance of a citation or order issued by MSHA.
|
•
|
Contests of Proposed Penalties (Petitions for Assessment of Penalties)
:
A contest of a proposed penalty is an administrative proceeding before the Commission challenging a civil penalty that MSHA has proposed for the violation.
|
•
|
Complaints for Compensation
:
A complaint for compensation may be filed with the Commission by miners entitled to compensation when a mine is closed by certain withdrawal orders issued by MSHA. The purpose of the proceeding is to determine the amount of compensation, if any, due miners idled by the orders.
|
•
|
Complaints of Discharge, Discrimination or Interference
:
A discrimination proceeding is a case that involves a miner’s allegation that he or she has suffered a wrong by the operator because he or she engaged in some type of activity protected under the Mine Act, such as making a safety complaint.
|
•
|
Temporary Reinstatement Proceedings
:
Temporary reinstatement proceedings involve cases in which a miner has filed a complaint with MSHA stating he or she has suffered discrimination and the miner has lost his or her position.
|
•
|
Emergency Response Plan (ERP) Dispute Proceedings
: ERP dispute proceedings are cases brought before the Commission when an operator is issued a citation because it has not agreed to include a certain provision in its ERP.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pending Legal Actions
|
|
|
|
|
||||||
|
Number of Pending Legal Actions as of December 31, 2012
|
|
Pre-Penalty Contests of Citations/Orders
|
|
Contests of Penalty Assessment
|
|
Complaints of Discharge, Discrimination or Interference
|
|
Legal Actions Initiated in 2012
|
|
Legal Actions Resolved in 2012
|
|
|
|
|
|
|
||||||
|
|
|
|
|
|
||||||
Mine
(1)
|
|
|
|
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
Western U.S. Mining
|
|
|
|
|
|
|
|
|
|
|
|
Kayenta
|
10
|
|
4
|
|
6
|
|
—
|
|
5
|
|
—
|
Lee Ranch
|
1
|
|
—
|
|
1
|
|
—
|
|
1
|
|
1
|
North Antelope Rochelle
|
5
|
|
—
|
|
5
|
|
—
|
|
4
|
|
7
|
Rawhide
|
1
|
|
—
|
|
1
|
|
—
|
|
1
|
|
4
|
Sage Creek
(2)
|
1
|
|
—
|
|
1
|
|
—
|
|
1
|
|
—
|
Twentymile (Foidel Creek)
|
31
|
|
4
|
|
27
|
|
—
|
|
16
|
|
10
|
Midwestern U.S. Mining
|
|
|
|
|
|
|
|
|
|
|
|
Air Quality
(3)
|
20
|
|
—
|
|
20
|
|
—
|
|
2
|
|
6
|
Air Quality South Wash Plant
|
1
|
|
—
|
|
1
|
|
—
|
|
—
|
|
—
|
Cottage Grove (Wildcat Hills-Cottage Grove Pit)
|
—
|
|
—
|
|
—
|
|
—
|
|
—
|
|
2
|
Francisco Surface
(3)
|
2
|
|
—
|
|
2
|
|
—
|
|
—
|
|
—
|
Francisco Underground
|
10
|
|
1
|
|
9
|
|
—
|
|
—
|
|
—
|
Gateway
|
9
|
|
4
|
|
5
|
|
—
|
|
—
|
|
18
|
Midwest Repair Facility (Columbia Maintenance Services)
|
—
|
|
—
|
|
—
|
|
—
|
|
—
|
|
3
|
Somerville Central
|
1
|
|
—
|
|
1
|
|
—
|
|
—
|
|
3
|
Vermilion Grove (Riola Complex Vermilion Grove Portal)
|
3
|
|
—
|
|
3
|
|
—
|
|
—
|
|
—
|
Viking - Corning
|
—
|
|
—
|
|
—
|
|
—
|
|
—
|
|
1
|
Wildcat Hills Underground
|
2
|
|
—
|
|
2
|
|
—
|
|
—
|
|
1
|
Willow Lake Portal
(3)
|
94
|
|
47
|
|
46
|
|
3
|
|
18
|
|
13
|
(1)
|
The definition of mine under section 3 of the Mine Act includes the mine, as well as other items used in, or to be used in, or resulting from, the work of extracting coal, such as land, structures, facilities, equipment, machines, tools and coal preparation facilities. Also, there are instances where the mine name per the MSHA system differs from the mine name utilized by us. Where applicable, we have parenthetically listed the name of the mine per the MSHA system. Also, all mines are listed alphabetically within each of our U.S. mining segments.
|
(2)
|
Mine has yet to commence operations.
|
(3)
|
Mine was closed as of December 31, 2012.
|