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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Peabody Energy Corporation | NYSE:BTU | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.61 | 2.83% | 22.15 | 22.20 | 21.34 | 21.66 | 3,446,662 | 23:46:44 |
þ
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
|
For the Fiscal Year Ended December 31, 2016
|
or
|
o
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
|
Common Stock, par value $0.01 per share
|
Large accelerated filer
o
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Accelerated filer
o
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Non-accelerated filer
þ
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Smaller reporting company
o
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Emerging growth company
o
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•
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Part I. Item 1. Business - We added maps showing the location of our mines and the primary ports that we use in Australia for coal exports.
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•
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Part I. Item 1A. Risk Factors - We added an additional risk factor on page 37 labeled "
We face numerous uncertainties in estimating our economically recoverable coal reserves and inaccuracies in our estimates could result in lower than expected revenues, higher than expected costs and decreased profitability.
"
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•
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Part I. Item 2. Properties - We added disclosure regarding the various factors that impact our assessment of the economic recoverability of coal reserves, the treatment of dilution in the Company's reserve estimates, and the yield of saleable coal after processing for each of our active mines.
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•
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Part II. Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations - Results of Operations - We added additional historical pricing data for the years ended December 31, 2016, 2015 and 2014 and disclosure regarding factors that may affect pricing under our long-term sales contracts.
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•
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our ability to consummate the Second Amended Joint Plan of Reorganization of Debtors and Debtors in Possession, dated January 27, 2017 (as further modified, the Plan) as confirmed by an order of the Bankruptcy Court entered on March 17, 2017;
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•
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the effects of the Chapter 11 Cases on our operations, including customer, supplier, banking, insurance and other relationships and agreements;
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•
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Bankruptcy Court rulings in the Chapter 11 Cases as well as the outcome of all other pending litigation and the outcome of the Chapter 11 Cases in general;
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•
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the length of time that we will operate under Chapter 11 protection and the continued availability of operating capital during the pendency of the proceedings;
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•
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the risks associated with third-party motions in the Chapter 11 Cases, which may interfere with our ability to consummate the Plan and restructuring generally;
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•
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increased advisory costs to execute a plan of reorganization;
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•
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the volatility of the trading price of our common stock and the absence of correlation between any increases in the trading price and our expectation that the common stock will be canceled and extinguished upon the Plan's effective date (Plan Effective Date);
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•
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the risk that the Plan does not become effective, in which case there can be no assurance that the Chapter 11 Cases will continue rather than be converted to Chapter 7 liquidation cases or that any alternative plan of reorganization would be on terms as favorable to holders of claims and interests as the terms of the Plan;
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•
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Peabody Energy’s ability to use cash collateral and the possibility that Peabody Energy may be required to post additional cash collateral to secure its obligations;
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•
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the effect of the Chapter 11 Cases on our relationships with third parties, regulatory authorities and employees;
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•
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the potential adverse effects of the Chapter 11 Cases on our liquidity, results of operations, or business prospects;
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•
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our ability to execute our business and restructuring plan;
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•
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increased administrative and legal costs related to the Chapter 11 Cases and other litigation and the inherent risks involved in a bankruptcy process;
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•
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the cost, availability and access to capital and financial markets, including the ability to secure new financing after emerging from the Chapter 11 Cases; and
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•
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the risk that the Chapter 11 Cases will disrupt or impede our international operations, including our business operations in Australia.
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Peabody Energy Corporation
|
2016 Form 10-K
|
i
|
•
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competition in the energy market and supply and demand for our coal products, including the impact of alternative energy sources, such as natural gas and renewables;
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•
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global steel demand and the downstream impact on metallurgical coal prices, and lower demand for our products by electric power generators;
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•
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our ability to successfully consummate planned divestitures, including the planned sale of all of our equity interests in Metropolitan Collieries Pty Ltd, the entity that owns the Metropolitan coal mine in New South Wales, Australia (the Metropolitan Mine);
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•
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our ability to appropriately secure our requirements for reclamation, federal and state workers’ compensation, federal coal leases and other obligations related to our operations, including our ability to utilize self-bonding and/or successfully access the commercial surety bond market;
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•
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customer procurement practices and contract duration;
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•
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the impact of weather and natural disasters on demand, production and transportation;
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•
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reductions and/or deferrals of purchases by major customers and our ability to renew sales contracts;
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•
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credit and performance risks associated with customers, suppliers, contract miners, co-shippers, and trading, bank and other financial counterparties;
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•
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geologic, equipment, permitting, site access, operational risks and new technologies related to mining;
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•
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transportation availability, performance and costs;
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•
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availability, timing of delivery and costs of key supplies, capital equipment or commodities such as diesel fuel, steel, explosives and tires;
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•
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impact of take-or-pay arrangements for rail and port commitments for the delivery of coal;
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•
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successful implementation of business strategies, including, without limitation, the actions we are implementing to improve our organization and respond to current market conditions;
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•
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negotiation of labor contracts, employee relations and workforce availability, including, without limitation, attracting and retaining key personnel;
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changes in postretirement benefit and pension obligations and their related funding requirements;
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•
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replacement and development of coal reserves;
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•
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effects of changes in interest rates and currency exchange rates (primarily the Australian dollar);
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•
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uncertainties in estimating our coal reserves;
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•
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effects of acquisitions or divestitures;
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•
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economic strength and political stability of countries in which we have operations or serve customers;
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•
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legislation, regulations and court decisions or other government actions, including, but not limited to, new environmental and mine safety requirements, changes in income tax regulations, sales-related royalties, or other regulatory taxes and changes in derivative laws and regulations;
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•
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our ability to obtain and renew permits necessary for our operations;
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litigation or other dispute resolution, including, but not limited to, claims not yet asserted;
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•
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terrorist attacks or security threats, including, but not limited to, cybersecurity breaches; and
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•
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impacts of pandemic illnesses.
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•
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the fact that our common stock will be canceled and extinguished upon the Plan Effective Date, if the Plan becomes effective, with no payments made to the holders of our common stock;
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•
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the lack of an established market for the shares of new common stock (Reorganized PEC Common Stock) or the preferred stock (Preferred Equity) to be issued pursuant to the Plan on the Plan Effective Date, and potential dilution of Reorganized PEC Common Stock due to future issuances of equity securities;
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•
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our ability to generate sufficient cash to service all of our expected post-emergence indebtedness;
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•
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our post-emergence debt instruments and capital structure will place certain limits on our ability to pay dividends and repurchase common stock;
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•
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our ability to comply with financial and other restrictive covenants in various agreements, including the credit facility contemplated by the Plan; and
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•
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other risks and factors, including those discussed in "Legal Proceedings," set forth Part I, Item 3 of this report and “Risk Factors,” set forth in Part I, Item 1A of this report.
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Peabody Energy Corporation
|
2016 Form 10-K
|
ii
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Peabody Energy Corporation
|
2016 Form 10-K
|
iii
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Peabody Energy Corporation
|
2016 Form 10-K
|
1
|
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.
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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 2,204.62 pounds (1,000 kilograms).
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Peabody Energy Corporation
|
2016 Form 10-K
|
2
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Peabody Energy Corporation
|
2016 Form 10-K
|
3
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Peabody Energy Corporation
|
2016 Form 10-K
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4
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Peabody Energy Corporation
|
2016 Form 10-K
|
5
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Peabody Energy Corporation
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2016 Form 10-K
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6
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Segment/Mining Complex
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Location
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Mine
Type
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Mining
Method
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Coal
Type
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Primary
Transport
Method
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2016 Tons Sold
(In millions)
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Powder River Basin Mining
|
|
|
|
|
|
|
|
|
|
|
|
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North Antelope Rochelle
|
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Wyoming
|
|
S
|
|
D, DL, T/S
|
|
T
|
|
R
|
|
92.9
|
|
Caballo
|
|
Wyoming
|
|
S
|
|
D, T/S
|
|
T
|
|
R
|
|
11.2
|
|
Rawhide
|
|
Wyoming
|
|
S
|
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D, T/S
|
|
T
|
|
R
|
|
8.1
|
|
Third party
(1)
|
|
—
|
|
—
|
|
—
|
|
—
|
|
—
|
|
0.9
|
|
Midwestern U.S. Mining
|
|
|
|
|
|
|
|
|
|
|
|
|
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Bear Run
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Indiana
|
|
S
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|
DL, D, T/S
|
|
T
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|
Tr, R
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|
7.4
|
|
Wild Boar
|
|
Indiana
|
|
S
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D, T/S
|
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T
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Tr, R, R/B, T/B
|
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2.7
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Somerville Central
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Indiana
|
|
S
|
|
DL, D, T/S
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|
T
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R, R/B, T/B, T/R
|
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2.4
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Francisco Underground
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Indiana
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|
U
|
|
CM
|
|
T
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|
R
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2.1
|
|
Gateway North
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|
Illinois
|
|
U
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|
CM
|
|
T
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Tr, R, R/B, T/B
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1.8
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|
Wildcat Hills Underground
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Illinois
|
|
U
|
|
CM
|
|
T
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|
T/B
|
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1.6
|
|
Cottage Grove
|
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Illinois
|
|
S
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D, T/S
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|
T
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T/B
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0.3
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|
Western U.S. Mining
|
|
|
|
|
|
|
|
|
|
|
|
|
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Kayenta
|
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Arizona
|
|
S
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DL, T/S
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|
T
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R
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5.8
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El Segundo
|
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New Mexico
|
|
S
|
|
D, DL, T/S
|
|
T
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|
R
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4.9
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|
Twentymile
|
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Colorado
|
|
U
|
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LW
|
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T
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R, Tr
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2.6
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Lee Ranch
|
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New Mexico
|
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S
|
|
T/S
|
|
T
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|
R
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0.4
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|
Australian Metallurgical Mining
|
|
|
|
|
|
|
|
|
|
|
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Millennium
|
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Queensland
|
|
S
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D, T/S
|
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M, P
|
|
R, EV
|
|
3.8
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|
Coppabella
(2)
|
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Queensland
|
|
S
|
|
DL, D, T/S
|
|
P
|
|
R, EV
|
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2.4
|
|
Metropolitan
(3)
|
|
New South Wales
|
|
U
|
|
LW
|
|
M
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R, EV
|
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2.0
|
|
Moorvale
(2)
|
|
Queensland
|
|
S
|
|
D, T/S
|
|
P
|
|
R, EV
|
|
1.9
|
|
Burton*
(4)
|
|
Queensland
|
|
S
|
|
DL, T/S
|
|
M, T
|
|
R, EV
|
|
1.7
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|
North Goonyella
(5)
|
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Queensland
|
|
U
|
|
LW, LTCC
|
|
M
|
|
R, EV
|
|
1.6
|
|
Middlemount
(6)
|
|
Queensland
|
|
S
|
|
D, T/S
|
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M, P
|
|
R, EV
|
|
—
|
|
Australian Thermal Mining
|
|
|
|
|
|
|
|
|
|
|
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Wilpinjong
|
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New South Wales
|
|
S
|
|
D, T/S
|
|
T
|
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R, EV
|
|
14.1
|
|
Wambo Open-Cut
(7)
|
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New South Wales
|
|
S
|
|
T/S
|
|
T
|
|
R, EV
|
|
3.7
|
|
Wambo Underground
(7)
|
|
New South Wales
|
|
U
|
|
LW
|
|
M, T
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R, EV
|
|
3.5
|
|
Legend:
|
|
R
|
Rail
|
|
S
|
Surface Mine
|
|
Tr
|
Truck
|
U
|
Underground Mine
|
|
R/B
|
Rail to Barge
|
DL
|
Dragline
|
|
T/B
|
Truck to Barge
|
D
|
Dozer/Casting
|
|
T/R
|
Truck to Rail
|
T/S
|
Truck and Shovel
|
|
EV
|
Export Vessel
|
LW
|
Longwall
|
|
T
|
Thermal/Steam
|
LTCC
|
Longwall Top Coal Caving
|
|
M
|
Metallurgical
|
CM
|
Continuous Miner
|
|
P
|
Pulverized Coal Injection
|
*
|
Mine operated by a contract miner
|
|
|
|
(1)
|
Third party purchased coal used to satisfy certain specific coal supply agreements.
|
(2)
|
We own a 73.3% undivided interest in an unincorporated joint venture that owns the Coppabella and Moorvale mines.
|
(3)
|
On November 3, 2016, we entered into a definitive share sale and purchase agreement (SPA) for the sale of all of our equity interest in the Metropolitan Mine to a subsidiary of South32 Limited (South32). The closing of the transaction is conditional upon receipt of approval from the Australian Competition and Consumer Commission (ACCC). On February 22, 2017, the ACCC issued a Statement of Issues relating to the transaction, noting that the ACCC is continuing to review the transaction. On February 24, 2017, pursuant to its right under the SPA, South32 extended the CP End Date (as defined in the SPA) from March 3, 2017 to April 17, 2017. On March 21, 2017, the ACCC notified us that it has extended the date on which it intends to render its decision regarding the transaction to April 27, 2017, which date extends beyond the CP End Date. As a result, we are assessing our options under the SPA.
|
(4)
|
Mine status changed to care and maintenance during 2016 and operations ceased.
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(5)
|
A significant geological event has resulted in the cessation of the longwall top coal caving system, which will result in the mine operating conventional longwall equipment for at least the remainder of the current panel.
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(6)
|
We own a 50% equity interest in Middlemount, which owns the Middlemount Mine. Because that entity is accounted for as an unconsolidated equity affiliate,
2016
tons sold from that mine, which totaled 4.5 million tons (on a 100% basis), have been excluded from the table above.
|
(7)
|
Represents our majority-owned mines in which there is an outside non-controlling ownership interest.
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Peabody Energy Corporation
|
2016 Form 10-K
|
7
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Peabody Energy Corporation
|
2016 Form 10-K
|
8
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Peabody Energy Corporation
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2016 Form 10-K
|
9
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Peabody Energy Corporation
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2016 Form 10-K
|
10
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Peabody Energy Corporation
|
2016 Form 10-K
|
11
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Name
|
|
Age
(1)
|
|
Position
(1)
|
Glenn L. Kellow
|
|
49
|
|
President and Chief Executive Officer
|
Amy B. Schwetz
|
|
42
|
|
Executive Vice President and Chief Financial Officer
|
A. Verona Dorch
|
|
50
|
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Executive Vice President, Chief Legal Officer, Government Affairs and Corporate Secretary
|
Bryan A. Galli
|
|
56
|
|
Group Executive of Marketing and Trading
|
Charles F. Meintjes
|
|
54
|
|
President - Australia
|
Kemal Williamson
|
|
57
|
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President - Americas
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Peabody Energy Corporation
|
2016 Form 10-K
|
12
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Peabody Energy Corporation
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2016 Form 10-K
|
13
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Peabody Energy Corporation
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2016 Form 10-K
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14
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Peabody Energy Corporation
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2016 Form 10-K
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15
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Peabody Energy Corporation
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2016 Form 10-K
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16
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Peabody Energy Corporation
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2016 Form 10-K
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17
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Peabody Energy Corporation
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2016 Form 10-K
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18
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Peabody Energy Corporation
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2016 Form 10-K
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19
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Peabody Energy Corporation
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2016 Form 10-K
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20
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Peabody Energy Corporation
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2016 Form 10-K
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Peabody Energy Corporation
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2016 Form 10-K
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Peabody Energy Corporation
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2016 Form 10-K
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Peabody Energy Corporation
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2016 Form 10-K
|
24
|
•
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whether the conditions to consummate the transactions contemplated by the Plan will be satisfied or waived;
|
•
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our ability to comply with and operate under any cash management orders by the Bankruptcy Court from time to time;
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•
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the high costs of Chapter 11 proceedings and related professional costs and fees;
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•
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our ability to attract, motivate, and retain key personnel, especially in our current constrained compensation environment;
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•
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our ability to maintain our relationships with our suppliers, service providers, customers, employees, and other third parties;
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•
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our ability to maintain critical contracts on reasonably acceptable terms and conditions;
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•
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the ability of third parties to seek and obtain relief from the automatic stay to terminate contracts and other agreements with us;
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•
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the actions and decisions of our creditors and other third parties who have interests in our Chapter 11 Cases that may be inconsistent with our plans;
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•
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our ability to self-bond or obtain adequate surety bonds with respect to our reclamation obligations, both during the Chapter 11 Cases and upon emergence from our Chapter 11 Cases; and
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•
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the possibility that the Chapter 11 Cases will disrupt or impede our international operations, including our Australian Operations.
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Peabody Energy Corporation
|
2016 Form 10-K
|
25
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Peabody Energy Corporation
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2016 Form 10-K
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26
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Peabody Energy Corporation
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2016 Form 10-K
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27
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Peabody Energy Corporation
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2016 Form 10-K
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28
|
•
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the demand for electricity;
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•
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the strength of the global economy;
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•
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the relative price of natural gas and other energy sources used to generate electricity;
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•
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the demand for electricity and capacity utilization of electricity generating units (whether coal or non-coal);
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•
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the demand for steel, which may lead to price fluctuations in the monthly and quarterly repricing of our metallurgical coal contracts;
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•
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the global supply and production costs of thermal and metallurgical coal;
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•
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changes in the fuel consumption and dispatch patterns of electric power generators;
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•
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weather patterns and natural disasters;
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•
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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;
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•
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the proximity, capacity and cost of transportation and terminal facilities;
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•
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coal and natural gas industry output and capacity;
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•
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governmental regulations and taxes, including those establishing air emission standards for coal-fueled power plants or mandating or subsidizing increased use of electricity from renewable energy sources;
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•
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regulatory, administrative and judicial decisions, including those affecting future mining permits and leases; and
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•
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technological developments, including those related to alternative energy sources, those intended to convert coal-to-liquids or gas and those aimed at capturing, using and storing carbon dioxide.
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Peabody Energy Corporation
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2016 Form 10-K
|
29
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Peabody Energy Corporation
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2016 Form 10-K
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30
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Peabody Energy Corporation
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2016 Form 10-K
|
31
|
•
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fires and explosions from methane gas or coal dust;
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•
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accidental mine water discharges;
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•
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weather, flooding and natural disasters; unexpected maintenance problems;
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•
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unforeseen delays in implementation of mining technologies that are new to our operations;
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•
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key equipment failures;
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•
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variations in coal seam thickness;
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•
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variations in coal quality;
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•
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variations in the amount of rock and soil overlying the coal deposit;
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•
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variations in rock and other natural materials; and
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•
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variations in geologic conditions.
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Peabody Energy Corporation
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2016 Form 10-K
|
32
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Peabody Energy Corporation
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2016 Form 10-K
|
33
|
•
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lack of availability, higher expense or unfavorable market terms of new surety bonds; and
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•
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inability to provide or fund collateral for current and future third-party surety bond issuers.
|
•
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employee health and safety;
|
•
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limitations on land use;
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•
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mine permitting and licensing requirements;
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•
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reclamation and restoration of mining properties after mining is completed;
|
•
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the storage, treatment and disposal of wastes;
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•
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remediation of contaminated soil, sediment and groundwater;
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•
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air quality standards;
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•
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water pollution;
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•
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protection of human health, plant-life and wildlife, including endangered or threatened species and habitats;
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•
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protection of wetlands;
|
•
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the discharge of materials into the environment; and
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•
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the effects of mining on surface water and groundwater quality and availability.
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Peabody Energy Corporation
|
2016 Form 10-K
|
34
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Peabody Energy Corporation
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2016 Form 10-K
|
35
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Peabody Energy Corporation
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2016 Form 10-K
|
36
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•
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Geologic and mining conditions, which may not be fully identified by available exploration data and may differ from our experience in areas we currently mine;
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•
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Current and future market prices for coal, contractual arrangements, operating costs and capital expenditures;
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•
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Severance and excise taxes, royalties and development and reclamation costs;
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•
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Future mining technology improvements;
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•
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The effects of regulation by governmental agencies;
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•
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Ability to obtain, maintain and renew all required permits;
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•
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Employee health and safety; and
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•
|
Historical production from the area compared with production from other producing areas.
|
Peabody Energy Corporation
|
2016 Form 10-K
|
37
|
Peabody Energy Corporation
|
2016 Form 10-K
|
38
|
Peabody Energy Corporation
|
2016 Form 10-K
|
39
|
Peabody Energy Corporation
|
2016 Form 10-K
|
40
|
•
|
making it more difficult for us to pay interest and satisfy our debt obligations;
|
•
|
increasing the cost of borrowing under our 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, bank guarantees 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.
|
Peabody Energy Corporation
|
2016 Form 10-K
|
41
|
•
|
incur additional indebtedness;
|
•
|
pay dividends on or make distributions in respect of stock or make certain other restricted payments or investments;
|
•
|
enter into agreements that restrict distributions from certain subsidiaries;
|
•
|
sell or otherwise dispose of assets;
|
•
|
enter into transactions with affiliates;
|
•
|
create or incur liens;
|
•
|
merge, consolidate or sell all or substantially all of our assets; and
|
•
|
place restrictions on the ability of subsidiaries to pay dividends or make other payments to us.
|
Peabody Energy Corporation
|
2016 Form 10-K
|
42
|
|
|
|
|
Proven and Probable
Reserves as of
December 31, 2016
(1)
|
|||||||
|
|
|
|
Owned
Tons
|
|
Leased
Tons
|
|
Total
Tons
|
|||
Mining Segment
|
|
Locations
|
|
|
|
||||||
|
|
|
|
(Tons in millions)
|
|||||||
Powder River Basin Mining
|
|
Wyoming
|
|
—
|
|
|
2,713
|
|
|
2,713
|
|
Midwestern U.S. Mining
|
|
Illinois, Indiana and Kentucky
|
|
1,425
|
|
|
297
|
|
|
1,722
|
|
Western U.S. Mining
|
|
Arizona, New Mexico and Colorado
|
|
171
|
|
|
325
|
|
|
496
|
|
Total United States
|
|
|
|
1,596
|
|
|
3,335
|
|
|
4,931
|
|
Australian Metallurgical Mining
|
|
Queensland and New South Wales
|
|
—
|
|
|
418
|
|
|
418
|
|
Australian Thermal Mining
|
|
New South Wales
|
|
—
|
|
|
294
|
|
|
294
|
|
Total Australia
|
|
|
|
—
|
|
|
712
|
|
|
712
|
|
Total Proven and Probable Coal Reserves
|
|
|
|
1,596
|
|
|
4,047
|
|
|
5,643
|
|
(1)
|
Estimated proven and probable coal reserves have been adjusted to account for estimated process dilutions and losses during mining and processing involved in producing a saleable coal product.
|
Peabody Energy Corporation
|
2016 Form 10-K
|
43
|
•
|
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.
|
Peabody Energy Corporation
|
2016 Form 10-K
|
44
|
Peabody Energy Corporation
|
2016 Form 10-K
|
45
|
•
|
Geological settings
. The geological characteristics of each mine are among the most important factors that determine the mining cost. Our geology department conducts the exploration program and provides geological models for the LOM process. Coal seam depth, thickness, dipping angle, partings, and quality constrain the available mining methods and size of operations. Shallow coal is typically mined by surface mining methods by which the primary cost is overburden removal. Deep coal is typically mined by underground mining methods where the primary costs include coal extraction and conveyance and roof control.
|
•
|
Scale of operations and the equipment sizes
. For surface mines, our dragline systems generally have a lower unit cost than truck-and-shovel systems for overburden removal. The longwall operations generally are more cost effective than room-and-pillar operations for underground mines.
|
•
|
Commodity prices
. For surface mines, the costs of diesel fuel and explosives are major components of the total mining cost. For underground mines, the steel used for roof bolts represents a significant cost. Forecasted commodity prices are used to project those costs in the financial models we use to establish our reserves.
|
•
|
Target product quality
. By targeting a premium quality product, our mining and processing processes may experience more coal losses. By lowering product quality the coal losses can be minimized and therefore a lower cost per ton can be achieved. In our mine plans, the product qualities are estimated to correspond to existing contracts and forecasted market demands.
|
•
|
Transportation costs
. Transportation costs vary by region. Most of our U.S. operations sell coal at mine loadouts. Therefore, no transportation expenses are included in our U.S. cost estimates. Our Australian operations sell coal at designated ports or local power plants. The estimated costs for our Australian operations include rail transportation and related fees at ports.
|
•
|
Royalty costs
. Our royalty costs are based upon contractual agreements for the coal leased from governments or private owners. The royalty rates for coal leased from governments differ by country and, in some cases, by mining method. Estimated add-on taxes and other sales-related costs are determined according to government regulations or historic costs.
|
•
|
Exchange rates
. Costs related to our Australian production are predominantly denominated in Australian dollars, while the Australian coal that we export is sold in U.S. dollars. As a result, Australian/U.S. dollar exchange rates impact the U.S. dollar cost of Australian production.
|
Peabody Energy Corporation
|
2016 Form 10-K
|
46
|
Peabody Energy Corporation
|
2016 Form 10-K
|
47
|
SUMMARY OF COAL PRODUCTION AND SULFUR CONTENT OF ASSIGNED RESERVES
|
|||||||||||||||||||||||
(Tons in Millions)
|
|||||||||||||||||||||||
|
|
Production
|
|
|
|
Sulfur Content of Assigned Reserves as of December 31, 2016
(1)
|
|
|
|||||||||||||||
|
|
|
|
|
<1.2 lbs.
|
|
>1.2 to 2.5 lbs.
|
|
>2.5 lbs.
|
|
As
|
||||||||||||
|
|
|
|
|
Sulfur
|
|
Sulfur
|
|
Sulfur
|
|
Received
|
||||||||||||
|
|
Year Ended December 31,
|
|
Type of
|
|
Dioxide per
|
|
Dioxide per
|
|
Dioxide per
|
|
Btu per
|
|||||||||||
Segment/Mining Complex
|
|
2016
|
|
2015
|
|
2014
|
|
Coal
|
|
Million Btu
|
|
Million Btu
|
|
Million Btu
|
|
pound
(2)
|
|||||||
Powder River Basin Mining:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
North Antelope Rochelle
|
|
92.9
|
|
|
109.3
|
|
|
118.0
|
|
|
T
|
|
1,920
|
|
|
—
|
|
|
—
|
|
|
8,800
|
|
Caballo
|
|
11.2
|
|
|
11.4
|
|
|
8.0
|
|
|
T
|
|
476
|
|
|
6
|
|
|
6
|
|
|
8,400
|
|
Rawhide
|
|
8.1
|
|
|
15.2
|
|
|
15.4
|
|
|
T
|
|
248
|
|
|
56
|
|
|
1
|
|
|
8,300
|
|
Total
|
|
112.2
|
|
|
135.9
|
|
|
141.4
|
|
|
|
|
2,644
|
|
|
62
|
|
|
7
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Midwestern U.S. Mining:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Bear Run
|
|
7.3
|
|
|
7.9
|
|
|
8.4
|
|
|
T
|
|
4
|
|
|
28
|
|
|
208
|
|
|
11,000
|
|
Wild Boar
|
|
2.6
|
|
|
2.7
|
|
|
3.5
|
|
|
T
|
|
—
|
|
|
—
|
|
|
35
|
|
|
11,100
|
|
Somerville Central
|
|
2.3
|
|
|
3.0
|
|
|
3.4
|
|
|
T
|
|
—
|
|
|
—
|
|
|
15
|
|
|
11,200
|
|
Francisco Underground
|
|
2.1
|
|
|
2.9
|
|
|
3.1
|
|
|
T
|
|
—
|
|
|
—
|
|
|
28
|
|
|
11,500
|
|
Gateway North
|
|
1.8
|
|
|
1.8
|
|
|
2.5
|
|
|
T
|
|
—
|
|
|
—
|
|
|
61
|
|
|
10,800
|
|
Wildcat Hills Underground
|
|
1.5
|
|
|
1.7
|
|
|
2.0
|
|
|
T
|
|
—
|
|
|
—
|
|
|
29
|
|
|
12,100
|
|
Cottage Grove
|
|
0.2
|
|
|
1.1
|
|
|
1.9
|
|
|
T
|
|
—
|
|
|
—
|
|
|
5
|
|
|
12,200
|
|
Viking - Corning Pit (Closed in 2014)
|
|
—
|
|
|
—
|
|
|
0.1
|
|
|
T
|
|
—
|
|
|
—
|
|
|
—
|
|
|
NA
|
|
Total
|
|
17.8
|
|
|
21.1
|
|
|
24.9
|
|
|
|
|
4
|
|
|
28
|
|
|
381
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Western U.S. Mining:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Kayenta
|
|
5.4
|
|
|
6.8
|
|
|
8.1
|
|
|
T
|
|
139
|
|
|
61
|
|
|
3
|
|
|
10,600
|
|
El Segundo
|
|
4.9
|
|
|
7.5
|
|
|
8.4
|
|
|
T
|
|
14
|
|
|
34
|
|
|
34
|
|
|
9,000
|
|
Twentymile
|
|
2.0
|
|
|
3.5
|
|
|
6.7
|
|
|
T
|
|
38
|
|
|
—
|
|
|
—
|
|
|
11,200
|
|
Lee Ranch
|
|
—
|
|
|
—
|
|
|
—
|
|
|
T
|
|
14
|
|
|
66
|
|
|
9
|
|
|
9,400
|
|
Total
|
|
12.3
|
|
|
17.8
|
|
|
23.2
|
|
|
|
|
205
|
|
|
161
|
|
|
46
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Australian Metallurgical Mining:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Millennium
|
|
3.5
|
|
|
4.4
|
|
|
3.9
|
|
|
M/P
|
|
4
|
|
|
—
|
|
|
—
|
|
|
12,600
|
|
Coppabella
|
|
2.4
|
|
|
2.8
|
|
|
3.2
|
|
|
P
|
|
31
|
|
|
—
|
|
|
—
|
|
|
12,600
|
|
Moorvale
|
|
1.9
|
|
|
2.2
|
|
|
2.4
|
|
|
P
|
|
9
|
|
|
—
|
|
|
—
|
|
|
12,300
|
|
Metropolitan
(3)
|
|
1.9
|
|
|
2.1
|
|
|
2.5
|
|
|
M
|
|
26
|
|
|
—
|
|
|
—
|
|
|
12,600
|
|
Burton
|
|
1.5
|
|
|
1.3
|
|
|
1.9
|
|
|
M/T
|
|
7
|
|
|
—
|
|
|
—
|
|
|
12,700
|
|
North Goonyella
|
|
1.3
|
|
|
2.6
|
|
|
2.9
|
|
|
M
|
|
87
|
|
|
—
|
|
|
—
|
|
|
12,700
|
|
Middlemount
(4)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
M/P
|
|
28
|
|
|
—
|
|
|
—
|
|
|
12,300
|
|
Total
|
|
12.5
|
|
|
15.4
|
|
|
16.8
|
|
|
|
|
192
|
|
|
—
|
|
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Australian Thermal Mining:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Wilpinjong
|
|
14.0
|
|
|
12.0
|
|
|
14.4
|
|
|
T
|
|
149
|
|
|
—
|
|
|
—
|
|
|
10,000
|
|
Wambo
(5)
|
|
6.8
|
|
|
6.5
|
|
|
6.5
|
|
|
M/T
|
|
145
|
|
|
—
|
|
|
—
|
|
|
11,800
|
|
Total
|
|
20.8
|
|
|
18.5
|
|
|
20.9
|
|
|
|
|
294
|
|
|
—
|
|
|
—
|
|
|
|
|
Total Assigned
|
|
175.6
|
|
|
208.7
|
|
|
227.2
|
|
|
|
|
3,339
|
|
|
251
|
|
|
434
|
|
|
|
Peabody Energy Corporation
|
2016 Form 10-K
|
48
|
ASSIGNED RESERVES
(6)
|
|
|
|
|
||||||||||||||||||||||||||||||||||
AS OF DECEMBER 31, 2016
|
|
|
|
|
||||||||||||||||||||||||||||||||||
|
|
|
|
Attributable Ownership
|
|
100% Project Basis
|
|
Modifying Factors
(8)
|
||||||||||||||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||
(Tons in Millions)
|
|
|
|
Proven and
|
|
|
|
|
|
|
|
|
|
Proven and
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Segment/Mining Complex
|
|
Interest
|
|
Probable Reserves
|
|
Owned
|
|
Leased
|
|
Surface
|
|
Under-ground
|
|
Probable Reserves
|
|
Owned
|
|
Leased
|
|
Surface
|
|
Under-ground
|
|
ROM Factor
|
|
Yield
|
||||||||||||
Powder River Basin Mining:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
North Antelope Rochelle
|
|
100%
|
|
1,920
|
|
|
—
|
|
|
1,920
|
|
|
1,920
|
|
|
—
|
|
|
1,920
|
|
|
—
|
|
|
1,920
|
|
|
1,920
|
|
|
—
|
|
|
93
|
%
|
|
100
|
%
|
Caballo
|
|
100%
|
|
488
|
|
|
—
|
|
|
488
|
|
|
488
|
|
|
—
|
|
|
488
|
|
|
—
|
|
|
488
|
|
|
488
|
|
|
—
|
|
|
90
|
%
|
|
100
|
%
|
Rawhide
|
|
100%
|
|
305
|
|
|
—
|
|
|
305
|
|
|
305
|
|
|
—
|
|
|
305
|
|
|
—
|
|
|
305
|
|
|
305
|
|
|
—
|
|
|
89
|
%
|
|
100
|
%
|
Total
|
|
|
|
2,713
|
|
|
—
|
|
|
2,713
|
|
|
2,713
|
|
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Midwestern U.S. Mining:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Bear Run
|
|
100%
|
|
240
|
|
|
104
|
|
|
136
|
|
|
240
|
|
|
—
|
|
|
240
|
|
|
104
|
|
|
136
|
|
|
240
|
|
|
—
|
|
|
107
|
%
|
|
70
|
%
|
Wild Boar
|
|
100%
|
|
35
|
|
|
19
|
|
|
16
|
|
|
35
|
|
|
—
|
|
|
35
|
|
|
19
|
|
|
16
|
|
|
35
|
|
|
—
|
|
|
98
|
%
|
|
81
|
%
|
Somerville Central
|
|
100%
|
|
15
|
|
|
14
|
|
|
1
|
|
|
15
|
|
|
—
|
|
|
15
|
|
|
14
|
|
|
1
|
|
|
15
|
|
|
—
|
|
|
96
|
%
|
|
72
|
%
|
Francisco Underground
|
|
100%
|
|
28
|
|
|
5
|
|
|
23
|
|
|
—
|
|
|
28
|
|
|
28
|
|
|
5
|
|
|
23
|
|
|
—
|
|
|
28
|
|
|
75
|
%
|
|
65
|
%
|
Gateway North
|
|
100%
|
|
61
|
|
|
59
|
|
|
2
|
|
|
—
|
|
|
61
|
|
|
61
|
|
|
59
|
|
|
2
|
|
|
—
|
|
|
61
|
|
|
65
|
%
|
|
65
|
%
|
Wildcat Hills Underground
|
|
100%
|
|
29
|
|
|
11
|
|
|
18
|
|
|
—
|
|
|
29
|
|
|
29
|
|
|
11
|
|
|
18
|
|
|
—
|
|
|
29
|
|
|
74
|
%
|
|
58
|
%
|
Cottage Grove
|
|
100%
|
|
5
|
|
|
3
|
|
|
2
|
|
|
5
|
|
|
—
|
|
|
5
|
|
|
3
|
|
|
2
|
|
|
5
|
|
|
—
|
|
|
104
|
%
|
|
82
|
%
|
Total
|
|
|
|
413
|
|
|
215
|
|
|
198
|
|
|
295
|
|
|
118
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Western U.S. Mining:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Kayenta
|
|
100%
|
|
203
|
|
|
—
|
|
|
203
|
|
|
203
|
|
|
—
|
|
|
203
|
|
|
—
|
|
|
203
|
|
|
203
|
|
|
—
|
|
|
88
|
%
|
|
100
|
%
|
El Segundo
|
|
100%
|
|
82
|
|
|
68
|
|
|
14
|
|
|
82
|
|
|
—
|
|
|
82
|
|
|
68
|
|
|
14
|
|
|
82
|
|
|
—
|
|
|
87
|
%
|
|
100
|
%
|
Twentymile
|
|
100%
|
|
38
|
|
|
10
|
|
|
28
|
|
|
—
|
|
|
38
|
|
|
38
|
|
|
10
|
|
|
28
|
|
|
—
|
|
|
38
|
|
|
93
|
%
|
|
78
|
%
|
Lee Ranch
|
|
100%
|
|
89
|
|
|
87
|
|
|
2
|
|
|
89
|
|
|
—
|
|
|
89
|
|
|
87
|
|
|
2
|
|
|
89
|
|
|
—
|
|
|
87
|
%
|
|
100
|
%
|
Total
|
|
|
|
412
|
|
|
165
|
|
|
247
|
|
|
374
|
|
|
38
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Australian Metallurgical Mining:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Millennium
|
|
100%
|
|
4
|
|
|
—
|
|
|
4
|
|
|
4
|
|
|
—
|
|
|
4
|
|
|
—
|
|
|
4
|
|
|
4
|
|
|
—
|
|
|
100
|
%
|
|
77
|
%
|
Coppabella
|
|
73.3%
|
|
31
|
|
|
—
|
|
|
31
|
|
|
31
|
|
|
—
|
|
|
42
|
|
|
—
|
|
|
42
|
|
|
42
|
|
|
—
|
|
|
97
|
%
|
|
73
|
%
|
Moorvale
|
|
73.3%
|
|
9
|
|
|
—
|
|
|
9
|
|
|
9
|
|
|
—
|
|
|
12
|
|
|
—
|
|
|
12
|
|
|
12
|
|
|
—
|
|
|
106
|
%
|
|
72
|
%
|
Metropolitan
(3)
|
|
100%
|
|
26
|
|
|
—
|
|
|
26
|
|
|
—
|
|
|
26
|
|
|
26
|
|
|
—
|
|
|
26
|
|
|
—
|
|
|
26
|
|
|
82
|
%
|
|
78
|
%
|
Burton
|
|
100%
|
|
7
|
|
|
—
|
|
|
7
|
|
|
7
|
|
|
—
|
|
|
7
|
|
|
—
|
|
|
7
|
|
|
7
|
|
|
—
|
|
|
102
|
%
|
|
87
|
%
|
North Goonyella
|
|
100%
|
|
87
|
|
|
—
|
|
|
87
|
|
|
—
|
|
|
87
|
|
|
87
|
|
|
—
|
|
|
87
|
|
|
—
|
|
|
87
|
|
|
100
|
%
|
|
78
|
%
|
Middlemount
(4)
|
|
50.0%
|
|
28
|
|
|
—
|
|
|
28
|
|
|
28
|
|
|
—
|
|
|
56
|
|
|
—
|
|
|
56
|
|
|
56
|
|
|
—
|
|
|
85
|
%
|
|
77
|
%
|
Total
|
|
|
|
192
|
|
|
—
|
|
|
192
|
|
|
79
|
|
|
113
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Australian Thermal Mining:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Wilpinjong
|
|
100%
|
|
149
|
|
|
—
|
|
|
149
|
|
|
149
|
|
|
—
|
|
|
149
|
|
|
—
|
|
|
149
|
|
|
149
|
|
|
—
|
|
|
108
|
%
|
|
87
|
%
|
Wambo
(5)
|
|
100%
|
|
145
|
|
|
—
|
|
|
145
|
|
|
34
|
|
|
111
|
|
|
145
|
|
|
—
|
|
|
145
|
|
|
34
|
|
|
111
|
|
|
107
|
%
|
|
69
|
%
|
Total
|
|
|
|
294
|
|
|
—
|
|
|
294
|
|
|
183
|
|
|
111
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Total Assigned
|
|
|
|
4,024
|
|
|
380
|
|
|
3,644
|
|
|
3,644
|
|
|
380
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Peabody Energy Corporation
|
2016 Form 10-K
|
49
|
ASSIGNED AND UNASSIGNED PROVEN AND PROBABLE COAL RESERVES
(6)
|
||||||||||||||||||||||||||||||
AS OF DECEMBER 31, 2016
|
||||||||||||||||||||||||||||||
(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
|
||||||||||
Powder River Basin Mining (Wyoming)
|
|
2,713
|
|
|
—
|
|
|
2,713
|
|
|
2,587
|
|
|
126
|
|
|
2,713
|
|
|
—
|
|
|
2,713
|
|
|
2,587
|
|
|
126
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Midwestern U.S. Mining:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Illinois
|
|
95
|
|
|
1,156
|
|
|
1,251
|
|
|
554
|
|
|
697
|
|
|
95
|
|
|
1,156
|
|
|
1,251
|
|
|
554
|
|
|
697
|
|
Indiana
|
|
318
|
|
|
29
|
|
|
347
|
|
|
289
|
|
|
58
|
|
|
318
|
|
|
29
|
|
|
347
|
|
|
289
|
|
|
58
|
|
Kentucky
(7)
|
|
—
|
|
|
124
|
|
|
124
|
|
|
54
|
|
|
70
|
|
|
—
|
|
|
124
|
|
|
124
|
|
|
54
|
|
|
70
|
|
Total
|
|
413
|
|
|
1,309
|
|
|
1,722
|
|
|
897
|
|
|
825
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Western U.S. Mining:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Arizona
|
|
203
|
|
|
—
|
|
|
203
|
|
|
203
|
|
|
—
|
|
|
203
|
|
|
—
|
|
|
203
|
|
|
203
|
|
|
—
|
|
New Mexico
|
|
171
|
|
|
—
|
|
|
171
|
|
|
171
|
|
|
—
|
|
|
171
|
|
|
—
|
|
|
171
|
|
|
171
|
|
|
—
|
|
Colorado
|
|
38
|
|
|
84
|
|
|
122
|
|
|
79
|
|
|
43
|
|
|
38
|
|
|
84
|
|
|
122
|
|
|
79
|
|
|
43
|
|
Total
|
|
412
|
|
|
84
|
|
|
496
|
|
|
453
|
|
|
43
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Australian Metallurgical Mining:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
New South Wales
|
|
26
|
|
|
—
|
|
|
26
|
|
|
6
|
|
|
20
|
|
|
26
|
|
|
—
|
|
|
26
|
|
|
6
|
|
|
20
|
|
Queensland
|
|
166
|
|
|
226
|
|
|
392
|
|
|
223
|
|
|
169
|
|
|
208
|
|
|
289
|
|
|
497
|
|
|
277
|
|
|
220
|
|
Total
|
|
192
|
|
|
226
|
|
|
418
|
|
|
229
|
|
|
189
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Australian Thermal Mining (New South Wales)
|
|
294
|
|
|
—
|
|
|
294
|
|
|
237
|
|
|
57
|
|
|
294
|
|
|
—
|
|
|
294
|
|
|
237
|
|
|
57
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Total Proven and Probable
|
|
4,024
|
|
|
1,619
|
|
|
5,643
|
|
|
4,403
|
|
|
1,240
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Peabody Energy Corporation
|
2016 Form 10-K
|
50
|
ASSIGNED AND UNASSIGNED - RESERVE CONTROL AND MINING METHOD
|
||||||||||||||||||||||||
AS OF DECEMBER 31, 2016
|
||||||||||||||||||||||||
(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
|
||||||||
Powder River Basin Mining (Wyoming)
|
|
—
|
|
|
2,713
|
|
|
2,713
|
|
|
—
|
|
|
—
|
|
|
2,713
|
|
|
2,713
|
|
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Midwestern U.S. Mining:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Illinois
|
|
1,217
|
|
|
34
|
|
|
9
|
|
|
1,242
|
|
|
1,217
|
|
|
34
|
|
|
9
|
|
|
1,242
|
|
Indiana
|
|
165
|
|
|
182
|
|
|
301
|
|
|
46
|
|
|
165
|
|
|
182
|
|
|
301
|
|
|
46
|
|
Kentucky
(7)
|
|
43
|
|
|
81
|
|
|
—
|
|
|
124
|
|
|
43
|
|
|
81
|
|
|
—
|
|
|
124
|
|
Total
|
|
1,425
|
|
|
297
|
|
|
310
|
|
|
1,412
|
|
|
|
|
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Western U.S. Mining:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Arizona
|
|
—
|
|
|
203
|
|
|
203
|
|
|
—
|
|
|
—
|
|
|
203
|
|
|
203
|
|
|
—
|
|
New Mexico
|
|
154
|
|
|
17
|
|
|
171
|
|
|
—
|
|
|
154
|
|
|
17
|
|
|
171
|
|
|
—
|
|
Colorado
|
|
17
|
|
|
105
|
|
|
—
|
|
|
122
|
|
|
17
|
|
|
105
|
|
|
—
|
|
|
122
|
|
Total
|
|
171
|
|
|
325
|
|
|
374
|
|
|
122
|
|
|
|
|
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Australia Metallurgical Mining:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
New South Wales
|
|
—
|
|
|
26
|
|
|
—
|
|
|
26
|
|
|
—
|
|
|
26
|
|
|
—
|
|
|
26
|
|
Queensland
|
|
—
|
|
|
392
|
|
|
179
|
|
|
213
|
|
|
—
|
|
|
497
|
|
|
249
|
|
|
248
|
|
Total
|
|
—
|
|
|
418
|
|
|
179
|
|
|
239
|
|
|
|
|
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Australian Thermal Mining (New South Wales)
|
|
—
|
|
|
294
|
|
|
182
|
|
|
112
|
|
|
—
|
|
|
294
|
|
|
182
|
|
|
112
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Total Proven and Probable
|
|
1,596
|
|
|
4,047
|
|
|
3,758
|
|
|
1,885
|
|
|
|
|
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Peabody Energy Corporation
|
2016 Form 10-K
|
51
|
ASSIGNED AND UNASSIGNED PROVEN AND PROBABLE COAL RESERVES - SULFUR CONTENT
|
|||||||||||||||||||||||
AS OF DECEMBER 31, 2016
|
|||||||||||||||||||||||
(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)
|
|||||||
Powder River Basin Mining (Wyoming)
|
|
T
|
|
2,644
|
|
|
62
|
|
|
7
|
|
|
2,644
|
|
|
62
|
|
|
7
|
|
|
8,700
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Midwestern U.S. Mining:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Illinois
|
|
T
|
|
—
|
|
|
—
|
|
|
1,251
|
|
|
—
|
|
|
—
|
|
|
1,251
|
|
|
10,800
|
|
Indiana
|
|
T
|
|
4
|
|
|
28
|
|
|
315
|
|
|
4
|
|
|
28
|
|
|
315
|
|
|
11,000
|
|
Kentucky
(7)
|
|
T
|
|
—
|
|
|
—
|
|
|
124
|
|
|
—
|
|
|
—
|
|
|
124
|
|
|
12,000
|
|
Total
|
|
|
|
4
|
|
|
28
|
|
|
1,690
|
|
|
|
|
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Western U.S. Mining:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Arizona
|
|
T
|
|
139
|
|
|
61
|
|
|
3
|
|
|
139
|
|
|
61
|
|
|
3
|
|
|
10,600
|
|
New Mexico
|
|
T
|
|
28
|
|
|
100
|
|
|
43
|
|
|
28
|
|
|
100
|
|
|
43
|
|
|
9,200
|
|
Colorado
|
|
T
|
|
122
|
|
|
—
|
|
|
—
|
|
|
122
|
|
|
—
|
|
|
—
|
|
|
11,200
|
|
Total
|
|
|
|
289
|
|
|
161
|
|
|
46
|
|
|
|
|
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Australia Metallurgical Mining:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
New South Wales
|
|
M
|
|
26
|
|
|
—
|
|
|
—
|
|
|
26
|
|
|
—
|
|
|
—
|
|
|
12,600
|
|
Queensland
|
|
M/P/T
|
|
392
|
|
|
—
|
|
|
—
|
|
|
497
|
|
|
—
|
|
|
—
|
|
|
12,400
|
|
Total
|
|
|
|
418
|
|
|
—
|
|
|
—
|
|
|
|
|
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Australian Thermal Mining (New South Wales)
|
|
T/M
|
|
294
|
|
|
—
|
|
|
—
|
|
|
294
|
|
|
—
|
|
|
—
|
|
|
10,800
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Total Proven and Probable
|
|
|
|
3,649
|
|
|
251
|
|
|
1,743
|
|
|
|
|
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Peabody Energy Corporation
|
2016 Form 10-K
|
52
|
(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 emission 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)
|
On November 3, 2016, Peabody Australia Mining Pty Ltd, one of the Company's Australian subsidiaries, entered into a definitive share sale and purchase agreement (SPA) for the sale of all of its equity interest in Metropolitan Collieries Pty Ltd to a subsidiary of South32 Limited (South32). The closing of the transaction is conditional upon receipt of approval from the Australian Competition and Consumer Commission (ACCC). On February 22, 2017, the ACCC issued a Statement of Issues (SOI) relating to the transaction, noting that the ACCC is continuing to review the transaction. On February 24, 2017, pursuant to its right under the SPA, South32 extended the CP End Date (as defined in the SPA) from March 3, 2017 to April 17, 2017.On March 21, 2017, the ACCC notified us that it has extended the date on which it intends to render its decision regarding the transaction to April 27, 2017, which extends beyond the CP End Date. As a result, we are assessing our options under the SPA.
|
(4)
|
Represents our 50% interest in Middlemount Coal Pty Ltd. (Middlemount), which owns the Middlemount Mine in Queensland, Australia. Because that entity is accounted for as an unconsolidated equity affiliate, 2016, 2015 and 2014 tons produced by Middlemount have been excluded from the "Summary of Coal Production and Sulfur Content of Assigned Reserves" table. Middlemount produced 4.5 million tons of coal in 2016 (on a 100% basis).
|
(5)
|
Includes the Wambo Open-Cut Mine and the Wambo Underground Mine areas.
|
(6)
|
Assigned reserves represent recoverable coal reserves that are controlled and accessible at active operations as of
December 31, 2016
. 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.
|
(7)
|
All coal reserves in Kentucky are leased to third parties.
|
(8)
|
The modifying factors reflect the assumptions which are utilized to convert coal quantities and qualities as in ground to run of mine (ROM) coal after mining, and eventually to saleable product coal after processing. Coal reserves are reported as an estimation of the final saleable quantity, which takes into account any losses and dilutions during mining and processing. We generally keep track of coal reserves through in place coal, ROM coal and product coal. In place coal for US underground reserves excludes planned barrier pillars, but includes regular pillars from projected underground extractions. In place coal for Australian underground reserves is exclusive of all planned pillars. The difference is due to historic practice and software used by each country. The ROM factor represents the estimated ROM coal in relation to the coal in place with considerations of coal losses, dilutions and remaining pillars during mining processes. The yield is the ratio of estimated saleable product coal over ROM coal tons with mainly processing loss considered.
|
Peabody Energy Corporation
|
2016 Form 10-K
|
53
|
Peabody Energy Corporation
|
2016 Form 10-K
|
54
|
Peabody Energy Corporation
|
2016 Form 10-K
|
55
|
Contract Commencement Month:
|
|
Premium HCC
|
|
Price (Decrease) Increase
|
|
Premium PCI Coal
|
|
Price (Decrease) Increase
|
||||||||||||||
|
2016
|
|
2015
|
|
%
|
|
2016
|
|
2015
|
|
%
|
|||||||||||
January
|
|
$
|
81.00
|
|
|
$
|
117.00
|
|
|
(31
|
)%
|
|
$
|
69.00
|
|
|
$
|
99.00
|
|
|
(30
|
)%
|
April
|
|
$
|
84.00
|
|
|
$
|
109.50
|
|
|
(23
|
)%
|
|
$
|
73.00
|
|
|
$
|
92.50
|
|
|
(21
|
)%
|
July
|
|
$
|
92.50
|
|
|
$
|
93.00
|
|
|
(1
|
)%
|
|
$
|
75.00
|
|
|
$
|
73.00
|
|
|
3
|
%
|
October
|
|
$
|
200.00
|
|
|
$
|
89.00
|
|
|
125
|
%
|
|
$
|
133.00
|
|
|
$
|
71.00
|
|
|
87
|
%
|
|
|
High
|
|
Low
|
|
Average
|
|
December 31, 2016
|
||||||||
Premium HCC
|
|
$
|
300.00
|
|
|
$
|
73.25
|
|
|
$
|
143.24
|
|
|
$
|
230.00
|
|
Premium PCI coal
|
|
$
|
188.65
|
|
|
$
|
65.65
|
|
|
$
|
97.23
|
|
|
$
|
112.10
|
|
Newcastle index thermal coal
|
|
$
|
114.75
|
|
|
$
|
48.80
|
|
|
$
|
65.65
|
|
|
$
|
88.40
|
|
PRB 8,800 Btu/Lb coal
|
|
$
|
12.10
|
|
|
$
|
8.48
|
|
|
$
|
10.19
|
|
|
$
|
12.10
|
|
Illinois Basin 11,500 Btu/Lb coal
|
|
$
|
37.00
|
|
|
$
|
28.50
|
|
|
$
|
31.39
|
|
|
$
|
35.00
|
|
Peabody Energy Corporation
|
2016 Form 10-K
|
56
|
|
Year Ended December 31,
|
|
(Decrease) Increase
to Tons Sold
|
||||||||
|
2016
|
|
2015
|
|
Tons
|
|
%
|
||||
|
(Tons in millions)
|
|
|
||||||||
Australian Metallurgical Mining
|
13.4
|
|
|
15.7
|
|
|
(2.3
|
)
|
|
(14.6
|
)%
|
Australian Thermal Mining
|
21.3
|
|
|
20.1
|
|
|
1.2
|
|
|
6.0
|
%
|
Powder River Basin Mining
|
113.1
|
|
|
138.8
|
|
|
(25.7
|
)
|
|
(18.5
|
)%
|
Western U.S. Mining
|
13.7
|
|
|
17.9
|
|
|
(4.2
|
)
|
|
(23.5
|
)%
|
Midwestern U.S. Mining
|
18.3
|
|
|
21.2
|
|
|
(2.9
|
)
|
|
(13.7
|
)%
|
Total tons sold from mining segments
|
179.8
|
|
|
213.7
|
|
|
(33.9
|
)
|
|
(15.9
|
)%
|
Trading and Brokerage
|
7.0
|
|
|
15.1
|
|
|
(8.1
|
)
|
|
(53.6
|
)%
|
Total tons sold
|
186.8
|
|
|
228.8
|
|
|
(42.0
|
)
|
|
(18.4
|
)%
|
Peabody Energy Corporation
|
2016 Form 10-K
|
57
|
|
Year Ended December 31,
|
|
Increase (Decrease)
|
|||||||||||
|
2016
|
|
2015
|
|
$
|
|
%
|
|||||||
|
|
|
|
|
|
|
|
|||||||
Revenues per Ton - Mining Operations
|
|
|
|
|
|
|
|
|||||||
Australian Metallurgical
|
$
|
81.41
|
|
|
$
|
75.04
|
|
|
$
|
6.37
|
|
|
8
|
%
|
Australian Thermal
|
38.79
|
|
|
41.00
|
|
|
(2.21
|
)
|
|
(5
|
)%
|
|||
Powder River Basin
|
13.02
|
|
|
13.45
|
|
|
(0.43
|
)
|
|
(3
|
)%
|
|||
Western U.S.
|
38.30
|
|
|
38.09
|
|
|
0.21
|
|
|
1
|
%
|
|||
Midwestern U.S.
|
43.39
|
|
|
46.18
|
|
|
(2.79
|
)
|
|
(6
|
)%
|
|||
Operating Costs per Ton - Mining Operations
(1)
|
|
|
|
|
|
|
|
|||||||
Australian Metallurgical
|
$
|
82.63
|
|
|
$
|
76.20
|
|
|
$
|
6.43
|
|
|
8
|
%
|
Australian Thermal
|
28.56
|
|
|
31.36
|
|
|
(2.80
|
)
|
|
(9
|
)%
|
|||
Powder River Basin
|
9.66
|
|
|
9.97
|
|
|
(0.31
|
)
|
|
(3
|
)%
|
|||
Western U.S.
|
30.90
|
|
|
27.78
|
|
|
3.12
|
|
|
11
|
%
|
|||
Midwestern U.S.
|
31.49
|
|
|
33.49
|
|
|
(2.00
|
)
|
|
(6
|
)%
|
|||
Gross Margin per Ton - Mining Operations
(1)
|
|
|
|
|
|
|
|
|||||||
Australian Metallurgical
|
$
|
(1.22
|
)
|
|
$
|
(1.16
|
)
|
|
$
|
(0.06
|
)
|
|
(5
|
)%
|
Australian Thermal
|
10.23
|
|
|
9.64
|
|
|
0.59
|
|
|
6
|
%
|
|||
Powder River Basin
|
3.36
|
|
|
3.48
|
|
|
(0.12
|
)
|
|
(3
|
)%
|
|||
Western U.S.
|
7.40
|
|
|
10.31
|
|
|
(2.91
|
)
|
|
(28
|
)%
|
|||
Midwestern U.S.
|
11.90
|
|
|
12.69
|
|
|
(0.79
|
)
|
|
(6
|
)%
|
(1)
|
Includes revenue-based production taxes and royalties; excludes depreciation, depletion and amortization; asset retirement obligation expenses; selling and administrative expenses; restructuring and pension settlement charges; asset impairment; and certain other costs related to post-mining activities. Gross margin per ton is approximately equivalent to segment Adjusted EBITDA divided by segment tons sold.
|
|
Year Ended December 31,
|
|
(Decrease) Increase
to Revenues
|
|||||||||||
|
2016
|
|
2015
|
|
$
|
|
%
|
|||||||
|
(Dollars in millions)
|
|
|
|||||||||||
Australian Metallurgical Mining
|
$
|
1,090.4
|
|
|
$
|
1,181.9
|
|
|
$
|
(91.5
|
)
|
|
(7.7
|
)%
|
Australian Thermal Mining
|
824.9
|
|
|
823.5
|
|
|
1.4
|
|
|
0.2
|
%
|
|||
Powder River Basin Mining
|
1,473.3
|
|
|
1,865.9
|
|
|
(392.6
|
)
|
|
(21.0
|
)%
|
|||
Western U.S. Mining
|
526.0
|
|
|
682.3
|
|
|
(156.3
|
)
|
|
(22.9
|
)%
|
|||
Midwestern U.S. Mining
|
792.5
|
|
|
981.2
|
|
|
(188.7
|
)
|
|
(19.2
|
)%
|
|||
Trading and Brokerage
|
(10.9
|
)
|
|
42.8
|
|
|
(53.7
|
)
|
|
(125.5
|
)%
|
|||
Corporate and Other
|
19.1
|
|
|
31.6
|
|
|
(12.5
|
)
|
|
(39.6
|
)%
|
|||
Total revenues
|
$
|
4,715.3
|
|
|
$
|
5,609.2
|
|
|
$
|
(893.9
|
)
|
|
(15.9
|
)%
|
Peabody Energy Corporation
|
2016 Form 10-K
|
58
|
|
Year Ended December 31,
|
|
Increase (Decrease) to Income
|
|||||||||||
|
2016
|
|
2015
|
|
$
|
|
%
|
|||||||
|
(Dollars in millions)
|
|
|
|||||||||||
Loss from continuing operations before income taxes
|
$
|
(758.3
|
)
|
|
$
|
(1,990.3
|
)
|
|
$
|
1,232.0
|
|
|
61.9
|
%
|
Depreciation, depletion and amortization
|
(465.4
|
)
|
|
(572.2
|
)
|
|
106.8
|
|
|
18.7
|
%
|
|||
Asset retirement obligation expenses
|
(41.8
|
)
|
|
(45.5
|
)
|
|
3.7
|
|
|
8.1
|
%
|
|||
Selling and administrative expenses related to debt restructuring
|
(21.5
|
)
|
|
—
|
|
|
(21.5
|
)
|
|
n.m.
|
|
|||
Asset impairment
|
(247.9
|
)
|
|
(1,277.8
|
)
|
|
1,029.9
|
|
|
80.6
|
%
|
|||
Change in deferred tax asset valuation allowance related to equity affiliates
|
7.5
|
|
|
1.0
|
|
|
6.5
|
|
|
650.0
|
%
|
|||
Amortization of basis difference related to equity affiliates
|
—
|
|
|
(4.9
|
)
|
|
4.9
|
|
|
100.0
|
%
|
|||
Interest expense
|
(298.6
|
)
|
|
(465.4
|
)
|
|
166.8
|
|
|
35.8
|
%
|
|||
Loss on early debt extinguishment
|
(29.5
|
)
|
|
(67.8
|
)
|
|
38.3
|
|
|
56.5
|
%
|
|||
Interest income
|
5.7
|
|
|
7.7
|
|
|
(2.0
|
)
|
|
(26.0
|
)%
|
|||
Reorganization items, net
|
(159.0
|
)
|
|
—
|
|
|
(159.0
|
)
|
|
n.m.
|
|
|||
Adjusted EBITDA
|
$
|
492.2
|
|
|
$
|
434.6
|
|
|
$
|
57.6
|
|
|
13.3
|
%
|
Peabody Energy Corporation
|
2016 Form 10-K
|
59
|
|
Year Ended December 31,
|
|
Increase (Decrease) to
Adjusted EBITDA
|
|||||||||||
|
2016
|
|
2015
|
|
$
|
|
%
|
|||||||
|
(Dollars in millions)
|
|
|
|||||||||||
Australian Metallurgical Mining
|
$
|
(16.3
|
)
|
|
$
|
(18.2
|
)
|
|
$
|
1.9
|
|
|
10.4
|
%
|
Australian Thermal Mining
|
217.6
|
|
|
193.6
|
|
|
24.0
|
|
|
12.4
|
%
|
|||
Powder River Basin Mining
|
379.9
|
|
|
482.9
|
|
|
(103.0
|
)
|
|
(21.3
|
)%
|
|||
Western U.S. Mining
|
101.6
|
|
|
184.6
|
|
|
(83.0
|
)
|
|
(45.0
|
)%
|
|||
Midwestern U.S. Mining
|
217.3
|
|
|
269.7
|
|
|
(52.4
|
)
|
|
(19.4
|
)%
|
|||
Trading and Brokerage
|
(72.2
|
)
|
|
27.0
|
|
|
(99.2
|
)
|
|
(367.4
|
)%
|
|||
Corporate and Other
|
(335.7
|
)
|
|
(705.0
|
)
|
|
369.3
|
|
|
52.4
|
%
|
|||
Adjusted EBITDA
|
$
|
492.2
|
|
|
$
|
434.6
|
|
|
$
|
57.6
|
|
|
13.3
|
%
|
Peabody Energy Corporation
|
2016 Form 10-K
|
60
|
|
Year Ended December 31,
|
|
(Decrease) Increase
to Income
|
|||||||||||
|
2016
|
|
2015
|
|
$
|
|
%
|
|||||||
|
(Dollars in millions)
|
|
|
|||||||||||
Resource management activities
(1)
|
$
|
19.0
|
|
|
$
|
32.2
|
|
|
$
|
(13.2
|
)
|
|
(41.0
|
)%
|
Selling and administrative expenses (excluding debt restructuring)
|
(131.9
|
)
|
|
(176.4
|
)
|
|
44.5
|
|
|
25.2
|
%
|
|||
Restructuring charges
|
(15.5
|
)
|
|
(23.5
|
)
|
|
8.0
|
|
|
34.0
|
%
|
|||
Corporate hedging
|
(241.0
|
)
|
|
(436.8
|
)
|
|
195.8
|
|
|
44.8
|
%
|
|||
UMWA VEBA Settlement
|
68.1
|
|
|
—
|
|
|
68.1
|
|
|
n.m.
|
|
|||
Other items, net
(2)
|
(34.4
|
)
|
|
(100.5
|
)
|
|
66.1
|
|
|
65.8
|
%
|
|||
Corporate and Other Adjusted EBITDA
|
$
|
(335.7
|
)
|
|
$
|
(705.0
|
)
|
|
$
|
369.3
|
|
|
52.4
|
%
|
(1)
|
Includes gains (losses) on certain surplus coal reserve and surface land sales and property management costs and revenues.
|
(2)
|
Includes results from equity affiliates (before the impact of related changes in deferred tax asset valuation allowance and amortization of basis difference), costs associated with post mining activities, certain coal royalty expenses, gains (losses) on certain asset disposals, minimum charges on certain transportation-related contracts and expenses related to our other commercial activities.
|
|
|
|
Increase
|
|||||||||||
|
Year Ended December 31,
|
|
to Income
|
|||||||||||
|
2016
|
|
2015
|
|
$
|
|
%
|
|||||||
|
(Dollars in millions)
|
|
|
|||||||||||
Australian Metallurgical Mining
|
$
|
(118.7
|
)
|
|
$
|
(178.9
|
)
|
|
$
|
60.2
|
|
|
33.7
|
%
|
Australian Thermal Mining
|
(102.5
|
)
|
|
(108.0
|
)
|
|
5.5
|
|
|
5.1
|
%
|
|||
Powder River Basin Mining
|
(123.4
|
)
|
|
(138.5
|
)
|
|
15.1
|
|
|
10.9
|
%
|
|||
Western U.S. Mining
|
(45.2
|
)
|
|
(55.3
|
)
|
|
10.1
|
|
|
18.3
|
%
|
|||
Midwestern U.S. Mining
|
(56.2
|
)
|
|
(69.0
|
)
|
|
12.8
|
|
|
18.6
|
%
|
|||
Trading and Brokerage
|
(0.2
|
)
|
|
(0.6
|
)
|
|
0.4
|
|
|
66.7
|
%
|
|||
Corporate and Other
|
(19.2
|
)
|
|
(21.9
|
)
|
|
2.7
|
|
|
12.3
|
%
|
|||
Total
|
$
|
(465.4
|
)
|
|
$
|
(572.2
|
)
|
|
$
|
106.8
|
|
|
18.7
|
%
|
Peabody Energy Corporation
|
2016 Form 10-K
|
61
|
|
Year Ended December 31,
|
||||||
|
2016
|
|
2015
|
||||
Australian Metallurgical Mining
|
$
|
4.36
|
|
|
$
|
5.27
|
|
Australian Thermal Mining
|
2.53
|
|
|
2.51
|
|
||
Powder River Basin Mining
|
0.71
|
|
|
0.69
|
|
||
Western U.S. Mining
|
0.92
|
|
|
0.93
|
|
||
Midwestern U.S. Mining
|
0.53
|
|
|
0.45
|
|
Peabody Energy Corporation
|
2016 Form 10-K
|
62
|
|
Year Ended December 31,
|
|
Increase (Decrease)
to Income
|
|||||||||||
|
2016
|
|
2015
|
|
$
|
|
%
|
|||||||
|
(Dollars in millions)
|
|
|
|||||||||||
Loss from continuing operations, net of income taxes
|
$
|
(674.3
|
)
|
|
$
|
(1,813.9
|
)
|
|
$
|
1,139.6
|
|
|
62.8
|
%
|
Loss from discontinued operations, net of income taxes
|
(57.6
|
)
|
|
(175.0
|
)
|
|
117.4
|
|
|
67.1
|
%
|
|||
Net loss
|
(731.9
|
)
|
|
(1,988.9
|
)
|
|
1,257.0
|
|
|
63.2
|
%
|
|||
Net income attributable to noncontrolling interests
|
7.9
|
|
|
7.1
|
|
|
(0.8
|
)
|
|
(11.3
|
)%
|
|||
Net loss attributable to common stockholders
|
$
|
(739.8
|
)
|
|
$
|
(1,996.0
|
)
|
|
$
|
1,256.2
|
|
|
62.9
|
%
|
Peabody Energy Corporation
|
2016 Form 10-K
|
63
|
Contract Commencement Month:
|
|
Premium HCC
|
|
Price Decrease
|
|
Premium PCI Coal
|
|
Price Decrease
|
||||||||||||||
|
2015
|
|
2014
|
|
|
2015
|
|
2014
|
|
|||||||||||||
January
|
|
$
|
117.00
|
|
|
$
|
143.00
|
|
|
(18
|
)%
|
|
$
|
99.00
|
|
|
$
|
116.00
|
|
|
(15
|
)%
|
April
|
|
$
|
109.50
|
|
|
$
|
120.00
|
|
|
(9
|
)%
|
|
$
|
92.50
|
|
|
$
|
100.00
|
|
|
(8
|
)%
|
July
|
|
$
|
93.00
|
|
|
$
|
120.00
|
|
|
(23
|
)%
|
|
$
|
73.00
|
|
|
$
|
100.00
|
|
|
(27
|
)%
|
October
|
|
$
|
89.00
|
|
|
$
|
119.00
|
|
|
(25
|
)%
|
|
$
|
71.00
|
|
|
$
|
99.00
|
|
|
(28
|
)%
|
|
|
High
|
|
Low
|
|
Average
|
|
December 31, 2015
|
||||||||
Premium HCC
|
|
$
|
110.05
|
|
|
$
|
72.00
|
|
|
$
|
87.07
|
|
|
$
|
76.45
|
|
Premium PCI coal
|
|
$
|
94.10
|
|
|
$
|
61.65
|
|
|
$
|
73.48
|
|
|
$
|
67.95
|
|
Newcastle index thermal coal
|
|
$
|
71.10
|
|
|
$
|
50.60
|
|
|
$
|
58.94
|
|
|
$
|
50.60
|
|
PRB 8,800 Btu/Lb coal
|
|
$
|
12.27
|
|
|
$
|
9.43
|
|
|
$
|
10.44
|
|
|
$
|
10.36
|
|
Illinois Basin 11,500 Btu/Lb coal
|
|
$
|
36.00
|
|
|
$
|
29.50
|
|
|
$
|
31.49
|
|
|
$
|
31.60
|
|
Peabody Energy Corporation
|
2016 Form 10-K
|
64
|
|
Year Ended December 31,
|
|
Decrease
to Tons Sold
|
||||||||
|
2015
|
|
2014
|
|
Tons
|
|
%
|
||||
|
(Tons in millions)
|
|
|
||||||||
Australian Metallurgical Mining
|
15.7
|
|
|
17.2
|
|
|
(1.5
|
)
|
|
(8.7
|
)%
|
Australian Thermal Mining
|
20.1
|
|
|
21.0
|
|
|
(0.9
|
)
|
|
(4.3
|
)%
|
Powder River Basin Mining
|
138.8
|
|
|
142.6
|
|
|
(3.8
|
)
|
|
(2.7
|
)%
|
Western U.S. Mining
|
17.9
|
|
|
23.8
|
|
|
(5.9
|
)
|
|
(24.8
|
)%
|
Midwestern U.S. Mining
|
21.2
|
|
|
25.0
|
|
|
(3.8
|
)
|
|
(15.2
|
)%
|
Total tons sold from mining segments
|
213.7
|
|
|
229.6
|
|
|
(15.9
|
)
|
|
(6.9
|
)%
|
Trading and Brokerage
|
15.1
|
|
|
20.2
|
|
|
(5.1
|
)
|
|
(25.2
|
)%
|
Total tons sold
|
228.8
|
|
|
249.8
|
|
|
(21.0
|
)
|
|
(8.4
|
)%
|
Peabody Energy Corporation
|
2016 Form 10-K
|
65
|
|
Year Ended December 31,
|
|
(Decrease) Increase
|
|||||||||||
|
2015
|
|
2014
|
|
$
|
|
%
|
|||||||
|
|
|
|
|
|
|
|
|||||||
Revenues per Ton - Mining Operations
|
|
|
|
|
|
|
|
|||||||
Australian Metallurgical
|
$
|
75.04
|
|
|
$
|
93.81
|
|
|
$
|
(18.77
|
)
|
|
(20
|
)%
|
Australian Thermal
|
41.00
|
|
|
50.46
|
|
|
(9.46
|
)
|
|
(19
|
)%
|
|||
Powder River Basin
|
13.45
|
|
|
13.49
|
|
|
(0.04
|
)
|
|
—
|
%
|
|||
Western U.S.
|
38.09
|
|
|
37.90
|
|
|
0.19
|
|
|
1
|
%
|
|||
Midwestern U.S.
|
46.18
|
|
|
47.99
|
|
|
(1.81
|
)
|
|
(4
|
)%
|
|||
Operating Costs per Ton - Mining Operations
(1)
|
|
|
|
|
|
|
|
|
||||||
Australian Metallurgical
|
$
|
76.20
|
|
|
$
|
102.60
|
|
|
$
|
(26.40
|
)
|
|
(26
|
)%
|
Australian Thermal
|
31.36
|
|
|
37.87
|
|
|
(6.51
|
)
|
|
(17
|
)%
|
|||
Powder River Basin
|
9.97
|
|
|
9.92
|
|
|
0.05
|
|
|
1
|
%
|
|||
Western U.S.
|
27.78
|
|
|
26.69
|
|
|
1.09
|
|
|
4
|
%
|
|||
Midwestern U.S.
|
33.49
|
|
|
35.70
|
|
|
(2.21
|
)
|
|
(6
|
)%
|
|||
Gross Margin per Ton - Mining Operations
(1)
|
|
|
|
|
|
|
|
|
||||||
Australian Metallurgical
|
$
|
(1.16
|
)
|
|
$
|
(8.79
|
)
|
|
$
|
7.63
|
|
|
87
|
%
|
Australian Thermal
|
9.64
|
|
|
12.59
|
|
|
(2.95
|
)
|
|
(23
|
)%
|
|||
Powder River Basin
|
3.48
|
|
|
3.57
|
|
|
(0.09
|
)
|
|
(3
|
)%
|
|||
Western U.S.
|
10.31
|
|
|
11.21
|
|
|
(0.90
|
)
|
|
(8
|
)%
|
|||
Midwestern U.S.
|
12.69
|
|
|
12.29
|
|
|
0.40
|
|
|
3
|
%
|
(1)
|
Includes revenue-based production taxes and royalties; excludes depreciation, depletion and amortization; asset retirement obligation expenses; selling and administrative expenses; restructuring and pension settlement charges; asset impairment; and certain other costs related to post-mining activities. Gross margin per ton is approximately equivalent to segment Adjusted EBITDA divided by segment tons sold.
|
|
Year Ended December 31,
|
|
Decrease
to Revenues
|
|||||||||||
|
2015
|
|
2014
|
|
$
|
|
%
|
|||||||
|
(Dollars in millions)
|
|
|
|||||||||||
Australian Metallurgical Mining
|
$
|
1,181.9
|
|
|
$
|
1,613.8
|
|
|
$
|
(431.9
|
)
|
|
(26.8
|
)%
|
Australian Thermal Mining
|
823.5
|
|
|
1,058.0
|
|
|
(234.5
|
)
|
|
(22.2
|
)%
|
|||
Powder River Basin Mining
|
1,865.9
|
|
|
1,922.9
|
|
|
(57.0
|
)
|
|
(3.0
|
)%
|
|||
Western U.S. Mining
|
682.3
|
|
|
902.8
|
|
|
(220.5
|
)
|
|
(24.4
|
)%
|
|||
Midwestern U.S. Mining
|
981.2
|
|
|
1,198.1
|
|
|
(216.9
|
)
|
|
(18.1
|
)%
|
|||
Trading and Brokerage
|
42.8
|
|
|
58.4
|
|
|
(15.6
|
)
|
|
(26.7
|
)%
|
|||
Corporate and Other
|
31.6
|
|
|
38.2
|
|
|
(6.6
|
)
|
|
(17.3
|
)%
|
|||
Total revenues
|
$
|
5,609.2
|
|
|
$
|
6,792.2
|
|
|
$
|
(1,183.0
|
)
|
|
(17.4
|
)%
|
Peabody Energy Corporation
|
2016 Form 10-K
|
66
|
|
|
|
|
|
(Decrease) Increase
|
|||||||||
|
Year Ended December 31,
|
|
to Income
|
|||||||||||
|
2015
|
|
2014
|
|
$
|
|
%
|
|||||||
|
(Dollars in millions)
|
|
|
|||||||||||
Loss from continuing operations before income taxes
|
$
|
(1,990.3
|
)
|
|
$
|
(547.9
|
)
|
|
$
|
(1,442.4
|
)
|
|
(263.3
|
)%
|
Depreciation, depletion and amortization
|
(572.2
|
)
|
|
(655.7
|
)
|
|
83.5
|
|
|
12.7
|
%
|
|||
Asset retirement obligation expenses
|
(45.5
|
)
|
|
(81.0
|
)
|
|
35.5
|
|
|
43.8
|
%
|
|||
Asset impairment
|
(1,277.8
|
)
|
|
(154.4
|
)
|
|
(1,123.4
|
)
|
|
(727.6
|
)%
|
|||
Change in deferred tax asset valuation allowance related to equity affiliates
|
1.0
|
|
|
(52.3
|
)
|
|
53.3
|
|
|
101.9
|
%
|
|||
Amortization of basis difference related to equity affiliates
|
(4.9
|
)
|
|
(5.7
|
)
|
|
0.8
|
|
|
14.0
|
%
|
|||
Interest expense
|
(465.4
|
)
|
|
(426.6
|
)
|
|
(38.8
|
)
|
|
(9.1
|
)%
|
|||
Loss on early debt extinguishment
|
(67.8
|
)
|
|
(1.6
|
)
|
|
(66.2
|
)
|
|
(4,137.5
|
)%
|
|||
Interest income
|
7.7
|
|
|
15.4
|
|
|
(7.7
|
)
|
|
(50.0
|
)%
|
|||
Adjusted EBITDA
|
$
|
434.6
|
|
|
$
|
814.0
|
|
|
$
|
(379.4
|
)
|
|
(46.6
|
)%
|
Peabody Energy Corporation
|
2016 Form 10-K
|
67
|
|
|
|
|
|
Increase (Decrease) to
|
|||||||||
|
Year Ended December 31,
|
|
Adjusted EBITDA
|
|||||||||||
|
2015
|
|
2014
|
|
$
|
|
%
|
|||||||
|
(Dollars in millions)
|
|
|
|||||||||||
Australian Metallurgical Mining
|
$
|
(18.2
|
)
|
|
$
|
(151.1
|
)
|
|
$
|
132.9
|
|
|
88.0
|
%
|
Australian Thermal Mining
|
193.6
|
|
|
264.1
|
|
|
(70.5
|
)
|
|
(26.7
|
)%
|
|||
Powder River Basin Mining
|
482.9
|
|
|
509.0
|
|
|
(26.1
|
)
|
|
(5.1
|
)%
|
|||
Western U.S. Mining
|
184.6
|
|
|
266.9
|
|
|
(82.3
|
)
|
|
(30.8
|
)%
|
|||
Midwestern U.S. Mining
|
269.7
|
|
|
306.9
|
|
|
(37.2
|
)
|
|
(12.1
|
)%
|
|||
Trading and Brokerage
|
27.0
|
|
|
14.9
|
|
|
12.1
|
|
|
81.2
|
%
|
|||
Corporate and Other
|
(705.0
|
)
|
|
(396.7
|
)
|
|
(308.3
|
)
|
|
77.7
|
%
|
|||
Adjusted EBITDA
|
$
|
434.6
|
|
|
$
|
814.0
|
|
|
$
|
(379.4
|
)
|
|
(46.6
|
)%
|
Peabody Energy Corporation
|
2016 Form 10-K
|
68
|
|
Year Ended December 31,
|
|
Increase (Decrease)
to Income
|
|||||||||||
|
2015
|
|
2014
|
|
$
|
|
%
|
|||||||
|
(Dollars in millions)
|
|
|
|||||||||||
Resource management activities
(1)
|
$
|
32.2
|
|
|
$
|
30.9
|
|
|
$
|
1.3
|
|
|
4.2
|
%
|
Selling and administrative expenses
|
(176.4
|
)
|
|
(227.1
|
)
|
|
50.7
|
|
|
22.3
|
%
|
|||
Restructuring and pension settlement charges
|
(23.5
|
)
|
|
(26.0
|
)
|
|
2.5
|
|
|
9.6
|
%
|
|||
Corporate hedging
|
(436.8
|
)
|
|
(49.6
|
)
|
|
(387.2
|
)
|
|
(780.6
|
)%
|
|||
Other items, net
(2)
|
(100.5
|
)
|
|
(124.9
|
)
|
|
24.4
|
|
|
19.5
|
%
|
|||
Corporate and Other Adjusted EBITDA
|
$
|
(705.0
|
)
|
|
$
|
(396.7
|
)
|
|
$
|
(308.3
|
)
|
|
(77.7
|
)%
|
(1)
|
Includes gains (losses) on certain surplus coal reserve and surface land sales and property management costs and revenues.
|
(2)
|
Includes results from equity affiliates (before the impact of related changes in deferred tax asset valuation allowance and amortization of basis difference), costs associated with post mining activities, certain coal royalty expenses, gains (losses) on certain asset disposals, minimum charges on certain transportation-related contracts and expenses related to our other commercial activities.
|
|
|
|
Increase
|
|||||||||||
|
Year Ended December 31,
|
|
to Income
|
|||||||||||
|
2015
|
|
2014
|
|
$
|
|
%
|
|||||||
|
(Dollars in millions)
|
|
|
|||||||||||
Australian Metallurgical Mining
|
$
|
(178.9
|
)
|
|
$
|
(221.5
|
)
|
|
$
|
42.6
|
|
|
19.2
|
%
|
Australian Thermal Mining
|
(108.0
|
)
|
|
(118.9
|
)
|
|
10.9
|
|
|
9.2
|
%
|
|||
Powder River Basin Mining
|
(138.5
|
)
|
|
(146.4
|
)
|
|
7.9
|
|
|
5.4
|
%
|
|||
Western U.S. Mining
|
(55.3
|
)
|
|
(66.6
|
)
|
|
11.3
|
|
|
17.0
|
%
|
|||
Midwestern U.S. Mining
|
(69.0
|
)
|
|
(69.6
|
)
|
|
0.6
|
|
|
0.9
|
%
|
|||
Trading and Brokerage
|
(0.6
|
)
|
|
(1.2
|
)
|
|
0.6
|
|
|
50.0
|
%
|
|||
Corporate and Other
|
(21.9
|
)
|
|
(31.5
|
)
|
|
9.6
|
|
|
30.5
|
%
|
|||
Total
|
$
|
(572.2
|
)
|
|
$
|
(655.7
|
)
|
|
$
|
83.5
|
|
|
12.7
|
%
|
|
Year Ended December 31,
|
||||||
|
2015
|
|
2014
|
||||
Australian Metallurgical Mining
|
$
|
5.27
|
|
|
$
|
4.86
|
|
Australian Thermal Mining
|
2.51
|
|
|
3.09
|
|
||
Powder River Basin Mining
|
0.69
|
|
|
0.70
|
|
||
Western U.S. Mining
|
0.93
|
|
|
0.94
|
|
||
Midwestern U.S. Mining
|
0.45
|
|
|
0.46
|
|
Peabody Energy Corporation
|
2016 Form 10-K
|
69
|
Peabody Energy Corporation
|
2016 Form 10-K
|
70
|
|
Year Ended December 31,
|
|
(Decrease) Increase
to Income
|
|||||||||||
|
2015
|
|
2014
|
|
$
|
|
%
|
|||||||
|
(Dollars in millions)
|
|
|
|||||||||||
Loss from continuing operations, net of income taxes
|
$
|
(1,813.9
|
)
|
|
$
|
(749.1
|
)
|
|
$
|
(1,064.8
|
)
|
|
(142.1
|
)%
|
Loss from discontinued operations, net of income taxes
|
(175.0
|
)
|
|
(28.2
|
)
|
|
(146.8
|
)
|
|
(520.6
|
)%
|
|||
Net loss
|
(1,988.9
|
)
|
|
(777.3
|
)
|
|
(1,211.6
|
)
|
|
(155.9
|
)%
|
|||
Net income attributable to noncontrolling interests
|
7.1
|
|
|
9.7
|
|
|
2.6
|
|
|
26.8
|
%
|
|||
Net loss attributable to common stockholders
|
$
|
(1,996.0
|
)
|
|
$
|
(787.0
|
)
|
|
$
|
(1,209.0
|
)
|
|
(153.6
|
)%
|
Peabody Energy Corporation
|
2016 Form 10-K
|
71
|
Peabody Energy Corporation
|
2016 Form 10-K
|
72
|
|
December 31,
|
||||||
|
2016
|
|
2015
|
||||
|
(Dollars in millions)
|
||||||
2013 Revolver
|
$
|
1,558.1
|
|
|
$
|
—
|
|
2013 Term Loan Facility due September 2020
|
1,154.5
|
|
|
1,156.3
|
|
||
6.00% Senior Notes due November 2018
|
1,509.9
|
|
|
1,508.9
|
|
||
6.50% Senior Notes due September 2020
|
645.8
|
|
|
645.5
|
|
||
6.25% Senior Notes due November 2021
|
1,327.7
|
|
|
1,327.0
|
|
||
10.00% Senior Secured Second Lien Notes due March 2022
|
962.3
|
|
|
960.4
|
|
||
7.875% Senior Notes due November 2026
|
245.9
|
|
|
245.8
|
|
||
Convertible Junior Subordinated Debentures due December 2066
|
367.1
|
|
|
366.3
|
|
||
Capital lease obligations
|
19.7
|
|
|
30.3
|
|
||
Other
|
0.4
|
|
|
0.7
|
|
||
|
7,791.4
|
|
|
6,241.2
|
|
||
Less: Current portion of long-term debt
|
20.2
|
|
|
5,874.9
|
|
||
Less: Liabilities subject to compromise
|
7,771.2
|
|
|
—
|
|
||
Long-term debt
|
$
|
—
|
|
|
$
|
366.3
|
|
Peabody Energy Corporation
|
2016 Form 10-K
|
73
|
Peabody Energy Corporation
|
2016 Form 10-K
|
74
|
Peabody Energy Corporation
|
2016 Form 10-K
|
75
|
Peabody Energy Corporation
|
2016 Form 10-K
|
76
|
|
Year Ended December 31,
|
|
Increase (Decrease) to
Cash Flow
|
|||||||||||
|
2016
|
|
2015
|
|
$
|
|
%
|
|||||||
|
(Dollars in millions)
|
|
|
|||||||||||
Net cash used in operating activities
|
$
|
(52.8
|
)
|
|
$
|
(14.4
|
)
|
|
$
|
(38.4
|
)
|
|
(266.7
|
)%
|
Net cash used in investing activities
|
(244.1
|
)
|
|
(290.0
|
)
|
|
45.9
|
|
|
15.8
|
%
|
|||
Net cash provided by financing activities
|
907.9
|
|
|
267.7
|
|
|
640.2
|
|
|
239.1
|
%
|
|||
Net change in cash and cash equivalents
|
611.0
|
|
|
(36.7
|
)
|
|
647.7
|
|
|
1,764.9
|
%
|
|||
Cash and cash equivalents at beginning of period
|
261.3
|
|
|
298.0
|
|
|
(36.7
|
)
|
|
(12.3
|
)%
|
|||
Cash and cash equivalents at end of period
|
$
|
872.3
|
|
|
$
|
261.3
|
|
|
$
|
611.0
|
|
|
233.8
|
%
|
•
|
A reduction in the amount drawn on our accounts receivable securitization program ($307.0 million);
|
•
|
Funds that became restricted during the year as collateral for financial assurances associated with reclamation bonding requirements ($125.7 million); partially offset by
|
•
|
A year-over-year increase in working capital ($253.3 million); and
|
•
|
An increase associated with the reclassification from other comprehensive income for terminated hedge contracts that occurred in 2016 ($125.2 million).
|
•
|
Higher proceeds from disposals of assets ($74.0 million) primarily due to the sale of our 5.06% participation interest in the Prairie State Energy Campus, as well as our interest in undeveloped metallurgical reserve tenements in Queensland's Bowen Basin, which included the Olive Downs South, Olive Downs South Extended and Willunga tenements; and
|
•
|
Lower federal coal lease expenditures ($28.2 million); partially offset by
|
•
|
Lower net proceeds from debt and equity security investment transactions ($61.5 million) due primarily to the fourth quarter 2015 sale of debt securities and the second quarter 2015 divestment of our prior holdings of Winsway Enterprises Holdings Limited marketable equity securities.
|
•
|
Higher proceeds from long-term debt ($454.1 million), primarily due to the proceeds received from our DIP Term Loan Facility during the second quarter of 2016 ($475.0 million, net of original issue discount) and the net draws on our 2013 Revolver during the first quarter of 2016 ($947.0 million), partially offset by proceeds received from our Senior Secured Second Lien Notes ($975.7 million, net of original issue discount) during the first quarter of 2015; and
|
•
|
Lower repayments of long-term debt ($157.6 million), mainly due to the extinguishment of $650.0 million aggregate principal of our 2016 Senior Notes in the first quarter of 2015, offset by the repayment of the DIP Term Loan Facility ($500.0 million) in the fourth quarter of 2016.
|
Peabody Energy Corporation
|
2016 Form 10-K
|
77
|
|
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)
(1)
|
$
|
9,377.6
|
|
|
$
|
490.2
|
|
|
$
|
2,363.8
|
|
|
$
|
2,343.9
|
|
|
$
|
4,179.7
|
|
Capital lease obligations (principal and interest)
|
27.3
|
|
|
7.3
|
|
|
9.4
|
|
|
1.0
|
|
|
9.6
|
|
|||||
Operating lease obligations
(2)
|
372.9
|
|
|
148.7
|
|
|
160.6
|
|
|
37.0
|
|
|
26.6
|
|
|||||
Unconditional purchase obligations
(3)
|
7.4
|
|
|
7.4
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||
Coal reserve lease and royalty obligations
|
53.8
|
|
|
6.1
|
|
|
10.9
|
|
|
10.2
|
|
|
26.6
|
|
|||||
Take-or-pay obligations
(4)
|
1,596.9
|
|
|
209.9
|
|
|
379.7
|
|
|
234.7
|
|
|
772.6
|
|
|||||
Other long-term liabilities
(5)
|
3,240.6
|
|
|
239.1
|
|
|
339.7
|
|
|
437.2
|
|
|
2,224.6
|
|
|||||
Total contractual cash obligations
|
$
|
14,676.5
|
|
|
$
|
1,108.7
|
|
|
$
|
3,264.1
|
|
|
$
|
3,064.0
|
|
|
$
|
7,239.7
|
|
(1)
|
Represents the original contractual maturities of our long-term debt obligations, although $7.8 billion of debt is classified as liabilities subject to compromise as a result of our Chapter 11 Cases. The related interest on long-term debt was calculated using rates in effect at December 31, 2016 for the remaining contractual term of the outstanding borrowings. The above table does not include indebtedness expected to be incurred in connection with the Plan.
|
(2)
|
Excludes contingent rents. Refer to Note 15. "Leases" to the accompanying consolidated financial statements for additional discussion of contingent rental agreements.
|
(3)
|
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.
|
(4)
|
Represents various short- and long-term take or pay arrangements in Australia and the U.S. associated with rail and port commitments for the delivery of coal, including amounts relating to export facilities.
|
(5)
|
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. Also includes $13 million of required payments to the VEBA established in connection with Patriot's bankruptcy, as well as $75 million related to the settlement of the UMWA 1974 Pension Plan Litigation described in Note 27. "Matters Related to the Bankruptcy of Patriot Coal Corporation" to the accompanying consolidated financial statements.
|
Peabody Energy Corporation
|
2016 Form 10-K
|
78
|
Peabody Energy Corporation
|
2016 Form 10-K
|
79
|
|
For Year Ended December 31, 2016
|
||||||
|
One-Percentage-
Point Increase
|
|
One-Percentage-
Point Decrease
|
||||
|
(Dollars in millions)
|
||||||
Health care cost trend rate:
|
|
|
|
||||
Effect on total net periodic postretirement benefit cost
|
$
|
10.6
|
|
|
$
|
(9.3
|
)
|
Effect on total postretirement benefit obligation
|
$
|
67.0
|
|
|
$
|
(61.9
|
)
|
|
For Year Ended December 31, 2016
|
||||||
|
One-Half
Percentage-
Point Increase
|
|
One-Half
Percentage-
Point Decrease
|
||||
|
(Dollars in millions)
|
||||||
Discount rate:
|
|
|
|
||||
Effect on total net periodic postretirement benefit cost
|
$
|
(2.3
|
)
|
|
$
|
2.2
|
|
Effect on total postretirement benefit obligation
|
$
|
(39.4
|
)
|
|
$
|
44.7
|
|
Peabody Energy Corporation
|
2016 Form 10-K
|
80
|
|
For Year Ended December 31, 2016
|
||||||
|
One-Half
Percentage-
Point Increase
|
|
One-Half
Percentage-
Point Decrease
|
||||
|
(Dollars in millions)
|
||||||
Discount rate:
|
|
|
|
||||
Effect on total net periodic pension cost
|
$
|
(6.9
|
)
|
|
$
|
7.4
|
|
Effect on defined benefit pension plans' funded status
|
$
|
48.0
|
|
|
$
|
(52.5
|
)
|
|
|
|
|
||||
Expected return on assets:
|
|
|
|
||||
Effect on total net periodic pension cost
|
$
|
(3.8
|
)
|
|
$
|
3.8
|
|
Peabody Energy Corporation
|
2016 Form 10-K
|
81
|
Peabody Energy Corporation
|
2016 Form 10-K
|
82
|
|
PEABODY ENERGY CORPORATION
|
|
|
|
/s/ GLENN L. KELLOW
|
|
Glenn L. Kellow
President and Chief Executive Officer
|
Peabody Energy Corporation
|
2016 Form 10-K
|
83
|
Exhibit No.
|
|
Description of Exhibit
|
|
|
|
2.1
|
|
Debtors’ Second Amended Joint Plan of Reorganization under Chapter 11 of the Bankruptcy Code as revised March 15, 2017 (Incorporated by reference to Exhibit 2.2 of the Registrant’s Current Report on Form 8-K, filed March 20, 2017).
|
2.2
|
|
Order Confirming Debtors’ Second Amended Joint Plan of Reorganization under Chapter 11 of the Bankruptcy Code on March 17, 2017 (Incorporated by reference to Exhibit 2.1 of the Registrant’s Current Report on Form 8-K, filed March 20, 2017).
|
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) and Certificate of Amendment of Third Amended and Restated Certificate of Incorporation of the Registrant (Incorporated by reference to Exhibit 3.1 of the Registrant’s Current Report on Form 8-K filed October 6, 2015).
|
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 December 16, 2015).
|
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).
|
4.5
|
|
Indenture, dated as of March 16, 2015, among Peabody, the Guarantors named therein and U.S. Bank National Association, as Trustee and Collateral Agent, governing 10% Senior Secured Second Lien Notes due 2022 (Incorporated by reference to Exhibit 4.1 of the Registrant's Current Report on Form 8-K, filed March 17, 2015).
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.
|
4.6
|
|
Indenture, dated as of February 15, 2017, between Peabody Securities Finance Corporation and Wilmington Trust, National Association, as Trustee, governing 6.000% Senior Secured Notes due 2022 and 6.375% Senior Secured Notes due 2025 (Incorporated by reference to Exhibit 4.1 of the Registrant’s Current Report on Form 8-K, filed February 15, 2017).
|
10.1
|
|
Amended and Restated Credit Agreement, as amended and restated as of September 24, 2013, by and among Peabody Energy Corporation, Citibank, N.A., as administrative agent, swing line lender and L/C issuer, Citigroup Global Markets, Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, BNP Paribas Securities Corp., Crédit Agricole Corporate and Investment Bank, HSBC Securities (USA) Inc., Morgan Stanley Senior Funding, Inc., PNC Capital Markets LLC and RBS Securities Inc., as joint lead arrangers and joint book managers, and the other agents and lending institutions identified in the Credit Agreement (Incorporated by reference to Exhibit 10.1 of the Registrant’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2013).
|
10.2
|
|
Share Charge, dated as of September 24, 2013, between Peabody Holdings (Gibraltar) Limited, as grantor, and Citibank, N.A., as administrative agent. (Incorporated by reference to Exhibit 10.2 to the Registrant's Current Report on Form 8-K filed on September 30, 2013).
|
10.3
|
|
Pledge Agreement, dated as of September 24, 2013, among Peabody Investments Corp., as grantor, and Citibank, N.A., as administrative agent. (Incorporated by reference to Exhibit 10.3 to the Registrant's Current Report on Form 8-K filed on September 30, 2013).
|
Exhibit No.
|
|
Description of Exhibit
|
|
|
|
10.4
|
|
Omnibus Amendment Agreement, dated as of February 5, 2015, to the Amended and Restated Credit Agreement, dated September 24, 2013, by and among Peabody Energy Corporation, Citibank, N.A., as administrative agent, swing line lender and L/C issuer, Citigroup Global Markets, Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, BNP Paribas Securities Corp., Crédit Agricole Corporate and Investment Bank, HSBC Securities (USA) Inc., Morgan Stanley Senior Funding, Inc., PNC Capital Markets LLC and RBS Securities Inc., as joint lead arrangers and joint book managers, and the other agents and lending institutions identified in the Credit Agreement. (Incorporated by reference to Exhibit 10.4 to the Registrant’s Annual Report on Form 10-K filed on February 25, 2015).
|
10.5
|
|
Fourth Amended and Restated Receivables Purchase Agreement, dated as of May 1, 2013, 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 to the Registrant's Current Report on Form 8-K filed on May 3, 2013).
|
10.6
|
|
First Lien/Second Lien Intercreditor Agreement, dated March 16, 2015, among Peabody Energy Corporation, the other grantors party thereto, U.S. Bank, National Association, as second priority representative and Citibank, N.A., as senior representative (Incorporated by reference to Exhibit 10.1 of the Registrant's Current Report on Form 8-K filed on March 17, 2015).
|
10.7
|
|
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).
|
10.8
|
|
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).
|
10.9
|
|
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).
|
10.10
|
|
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).
|
10.11
|
|
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).
|
10.12
|
|
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).
|
10.13
|
|
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).
|
10.14
|
|
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).
|
10.15
|
|
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).
|
10.16
|
|
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).
|
10.17
|
|
Federal Coal Lease Readjustment WYW78663: Caballo (Incorporated by reference to Exhibit 10.24 of the Registrant’s Annual Report on Form 10-K for the year ended December 31, 2012).
|
10.18
|
|
Transfer by Assignment and Assumption of Federal Coal Lease WYW172657: Caballo West (Incorporated by reference to Exhibit 10.25 of the Registrant’s Annual Report on Form 10-K for the year ended December 31, 2012).
|
10.19
|
|
Federal Coal Lease WYW176095: Porcupine South (Incorporated by reference to Exhibit 10.26 of the Registrant’s Annual Report on Form 10-K for the year ended December 31, 2012).
|
10.20
|
|
Federal Coal Lease WYW173408: North Porcupine (Incorporated by reference to Exhibit 10.27 of the Registrant’s Annual Report on Form 10-K for the year ended December 31, 2012).
|
10.21
|
|
Federal Coal Lease WYW172413: School Creek (Incorporated by reference to Exhibit 10.28 of the Registrant’s Annual Report on Form 10-K for the year ended December 31, 2012).
|
10.22
|
|
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).
|
Exhibit No.
|
|
Description of Exhibit
|
|
|
|
10.23
|
|
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).
|
10.24
|
|
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).
|
10.25
|
|
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).
|
10.26
|
|
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).
|
10.27
|
|
Settlement Agreement entered into as of October 24, 2013, by and among Patriot Coal Corporation, on behalf of itself and its affiliates, the Registrant, on behalf of itself and its affiliates, and the United Mine Workers of America, on behalf of itself and the UMWA Employees and UMWA Retirees (Incorporated by reference to Exhibit 10.1 of the Registrant's Current Report on Form 8-K, filed October 30, 2013).
|
10.28
|
|
Purchase and Sale Agreement, dated as of November 20, 2015, by and between Four Star Holdings, LLC
and Western Megawatt Resources, LLC (Incorporated by reference to Exhibit 10.28 to the Registrant's Annual Report on Form 10-K for the year ended December 31, 2015).
|
10.29*
|
|
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).
|
10.30*
|
|
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).
|
10.31*
|
|
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).
|
10.32*
|
|
Amendment No. 3 to the 1998 Stock Purchase and Option Plan for Key Employees of the Registrant (Incorporated by reference to Exhibit 10.1 of the Registrant's Quarterly Report on Form 10-Q for the quarter ended March 31, 2014).
|
10.33*
|
|
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).
|
10.34*
|
|
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).
|
10.35*
|
|
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).
|
10.36*
|
|
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).
|
10.37*
|
|
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).
|
10.38*
|
|
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).
|
10.39*
|
|
Amendment No. 2 to the Registrant's 2001 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 March 31, 2014).
|
10.40*
|
|
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).
|
Exhibit No.
|
|
Description of Exhibit
|
|
|
|
10.41*
|
|
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).
|
10.42*
|
|
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).
|
10.43*
|
|
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).
|
10.44*
|
|
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).
|
10.45*
|
|
Amendment No. 1 to the Equity Incentive Plan for Non-Employee Directors of the Registrant (Incorporated by reference to Exhibit 10.3 of the Registrant's Quarterly Report on Form 10-Q for the quarter ended March 31, 2014).
|
10.46*
|
|
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).
|
10.47*
|
|
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).
|
10.48*
|
|
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).
|
10.49*
|
|
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).
|
10.50*
|
|
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).
|
10.51*
|
|
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).
|
10.52*
|
|
Amendment No. 5 to the Registrant's 2004 Long-Term Equity Incentive Plan (Incorporated by reference to Exhibit 10.4 of the Registrant's Quarterly Report on Form 10-Q for the quarter ended March 31, 2014).
|
10.53*
|
|
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).
|
10.54*
|
|
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).
|
10.55*
|
|
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).
|
10.56*
|
|
Form of Performance Units 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).
|
10.57*
|
|
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).
|
10.58*
|
|
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).
|
10.59*
|
|
Amendment No. 1 to the Registrant's 2011 Long-Term Equity Incentive Plan (Incorporated by reference to Exhibit 10.5 of the Registrant's Quarterly Report on Form 10-Q for the quarter ended March 31, 2014).
|
10.60*
|
|
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).
|
10.61*
|
|
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).
|
10.62*
|
|
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).
|
Exhibit No.
|
|
Description of Exhibit
|
|
|
|
10.63*
|
|
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).
|
10.64*
|
|
Form of Non-Qualified Stock Option Agreement under the Registrant's 2011 Long-Term Equity Incentive Plan (effective for awards to executive officers than Gregory H. Boyce on and after January 2, 2014) (Incorporated by reference to Exhibit 10.1 to the Registrant's Current Report on Form 8-K, filed April 25, 2014).
|
10.65*
|
|
Form of Restricted Stock Award Agreement under the Registrant's 2011 Long-Term Equity Incentive Plan (effective for awards on and after January 2, 2014) (Incorporated by reference to Exhibit 10.2 to the Registrant's Current Report on Form 8-K, filed April 25, 2014).
|
10.66*
|
|
Form of Performance Units Agreement under the Registrant's 2011 Long-Term Equity Incentive Plan. (effective for awards on and after January 2, 2014) (Incorporated by reference to Exhibit 10.3 to the Registrant's Current Report on Form 8-K, filed April 25, 2014).
|
10.67*
|
|
Form of Non-Qualified Stock Option Agreement under the Registrant's 2011 Long-Term Equity Incentive Plan (effective for awards to Gregory H. Boyce on and after January 2, 2014) (Incorporated by reference to Exhibit 10.4 to the Registrant's Current Report on Form 8-K, filed April 25, 2014).
|
10.68*
|
|
Peabody Energy Corporation 2015 Long-Term Incentive Plan (Incorporated by reference to Appendix B of the Registrant's Proxy Statement, filed March 24, 2015).
|
10.69*
|
|
Form of Performance-Based Restricted Stock Unit Agreement under the Registrant's 2015 Long-Term Incentive Plan (Incorporated by reference to Exhibit 10.69 to the Registrant's Annual Report on Form 10-K for the year ended December 31, 2015).
|
10.70*
|
|
Form of Performance-Based Restricted Stock Unit Agreement under the Registrant's 2015 Long-Term Incentive Plan (effective for Australia) (Incorporated by reference to Exhibit 10.70 to the Registrant's Annual Report on Form 10-K for the year ended December 31, 2015).
|
10.71*
|
|
Form of Service-Based Cash Award Agreement under the Registrant's 2015 Long-Term Incentive Plan (Incorporated by reference to Exhibit 10.71 to the Registrant's Annual Report on Form 10-K for the year ended December 31, 2015).
|
10.72*
|
|
Form of Service-Based Cash Award Agreement under the Registrant’s 2015 Long-Term Incentive Plan (Incorporated by reference to Exhibit 10.72 to the Registrant's Annual Report on Form 10-K for the year ended December 31, 2015).
|
10.73*
|
|
Form of Service-Based Cash Award Agreement for Non-Employee Directors under the Registrant's 2015 Long-Term Incentive Plan (Incorporated by reference to Exhibit 10.73 to the Registrant's Annual Report on Form 10-K for the year ended December 31, 2015).
|
10.74*
|
|
Form of Deferred Stock Unit Agreement under the Registrant's 2015 Long-Term Incentive Plan (Incorporated by reference to Exhibit 10.74 to the Registrant's Annual Report on Form 10-K for the year ended December 31, 2015).
|
10.75*
|
|
Form of Restrictive Covenant Agreement under the Registrant's 2015 Long-Term Incentive Plan (Incorporated by reference to Exhibit 10.75 to the Registrant's Annual Report on Form 10-K for the year ended December 31, 2015).
|
10.76*
|
|
Form of Restrictive Covenant Agreement under the Registrant's 2015 Long-Term Incentive Plan (Australia) (Incorporated by reference to Exhibit 10.76 to the Registrant's Annual Report on Form 10-K for the year ended December 31, 2015).
|
10.77*
|
|
Cash-Settled Performance Units Agreement between the Registrant and Gregory H. Boyce (Incorporated by reference to Exhibit 10.5 to the Registrant's Current Report on Form 8-K, filed April 25, 2014).
|
10.78*
|
|
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).
|
10.79*
|
|
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).
|
10.80*
|
|
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).
|
Exhibit No.
|
|
Description of Exhibit
|
|
|
|
10.81*
|
|
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).
|
10.82*
|
|
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).
|
10.83*
|
|
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).
|
10.84*
|
|
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).
|
10.85*
|
|
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).
|
10.86*
|
|
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).
|
10.87*
|
|
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).
|
10.88*
|
|
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).
|
10.89*
|
|
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).
|
10.90*
|
|
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).
|
10.91*
|
|
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).
|
10.92*
|
|
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).
|
10.93*
|
|
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).
|
10.94*
|
|
Amended and Restated Transition Agreement effective May 8, 2014 by and between Peabody Energy Corporation and Gregory H. Boyce (Incorporated by reference to Exhibit 10.1 to the Registrant's Current Report on Form 8-K filed on May 13, 2014).
|
10.95*
|
|
2013 Restricted Stock Unit Agreement by and between Peabody Energy Corporation and Gregory H. Boyce (Incorporated by reference to Exhibit 10.3 to the Registrant's Current Report on Form 8-K filed on May 3, 2013).
|
10.96*
|
|
Employment Agreement entered into as of August 21, 2013, by and between Peabody Energy Corporation and Glenn L. Kellow (Incorporated by reference to Exhibit 10.1 to the Registrant's Current Report on Form 8-K filed on August 27, 2013).
|
10.97*
|
|
Restrictive Covenant Agreement entered into as of August 21, 2013, by and between Peabody Energy Corporation and Glenn L. Kellow (Incorporated by reference to Exhibit 10.2 to the Registrant's Current Report on Form 8-K filed on August 27, 2013).
|
10.98*
|
|
Letter dated January 27, 2015 to Glenn L. Kellow from the Chairman of the Compensation Committee of the Peabody Energy Corporation Board of Directors (incorporated by reference to Exhibit 10.1 to the Registrant’s Current Report on Form 8-K filed on January 28, 2015).
|
Exhibit No.
|
|
Description of Exhibit
|
|
|
|
10.99*
|
|
Letter Agreement entered into as of January 27, 2015, by and between Peabody Energy Corporation and Glenn L. Kellow (incorporated by reference to Exhibit 10.2 to the Registrant’s Current Report on Form 8-K filed on January 28, 2015).
|
10.100*
|
|
Letter Agreement entered into as of April 21, 2015, by and between Peabody Energy Corporation and Gregory H. Boyce (incorporated by reference to Exhibit 10.1 to the Registrant’s Current Report on Form 8-K filed on April 21, 2015).
|
10.101*
|
|
Letter Agreement entered into as of April 20, 2015, by and between Peabody Energy Corporation and Glenn L. Kellow (incorporated by reference to Exhibit 10.2 to the Registrant’s Current Report on Form 8-K filed on April 21, 2015).
|
10.102*
|
|
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).
|
10.103*
|
|
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).
|
10.104*
|
|
Restated Employment Agreement entered into as of December 20, 2012 by and between the Registrant and Kemal Williamson (Incorporated by reference to Exhibit 10.1 to the Registrant's Current Report on Form 8-K filed on December 26, 2012).
|
10.105*
|
|
Peabody Energy Corporation Executive Severance Plan. (Incorporated by reference to Exhibit 10.92 to the Registrant’s Annual Report on Form 10-K filed on February 25, 2015).
|
10.106*
|
|
Peabody Energy Corporation 2015 Amended and Restated Executive Severance Plan. (Incorporated by reference to Exhibit 10.1 to the Registrant’s Current Report on Form 8-K filed on November 23, 2015).
|
10.107*
|
|
Form of Director and Executive Officer Indemnification Agreement between the Registrant and each of its directors and executive officers. (Incorporated by reference to Exhibit 10.93 to the Registrant’s Annual Report on Form 10-K filed on February 25, 2015).
|
10.108*
|
|
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).
|
10.109
|
|
Limited Waiver to Purchase and Sale Agreement by and between Four Star Holdings, LLC and Western Megawatt Resources, LLC dated March 30, 2016 (Incorporated by reference to Exhibit 10.1 of the Registrant's Current Report on Form 8-K filed March 31, 2016).
|
10.110
|
|
Fifth Amended and Restated Receivables Purchase Agreement, dated as of March 25, 2016, 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 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 March 31, 2016).
|
10.111
|
|
First Amendment to the Fifth Amended and Restated Receivables Purchase Agreement, dated as of April 12, 2016, by and among P&L Receivables Company, LLC, Peabody Energy Corporation, the various Sub-Servicers listed on the signature pages thereto, and PNC Bank, National Association, as Administrator and as the Sole Purchaser, Committed Purchaser, LC Bank and LC Participant (Incorporated by reference to Exhibit 10.1 of the Registrant’s Current Report on Form 8-K, filed April 13, 2016).
|
10.112
|
|
Second Amendment to the Fifth Amended and Restated Receivables Purchase Agreement, dated as of April 18, 2016, by and among Peabody Energy Corporation, P&L Receivables Company, LLC, the various Sub-Servicers listed on the signature pages thereto, and PNC Bank, National Association, as Administrator and as the Sole Purchaser, Committed Purchaser, LC Bank and LC Participant (Incorporated by reference to Exhibit 10.1 of the Registrant’s Current Report on Form 8-K, filed April 22, 2016).
|
10.113
|
|
Superpriority Secured Debtor-In-Possession Credit Agreement, dated as of April 18, 2016, by and among Peabody Energy Corporation, the guarantors party thereto, the lenders party thereto and Citibank, N.A. as Administrative Agent and L/C Issuer (Incorporated by reference to Exhibit 10.2 of the Registrant’s Current Report on Form 8-K, filed April 22, 2016).
|
10.114
|
|
Amendment No. 1 to Superpriority Secured Debtor-in-Possession Credit Agreement, dated as of May 9, 2016, by and among Peabody Energy Corporation, the guarantors party thereto, the lenders party thereto and Citibank, N.A. as Administrative Agent (Incorporated by reference to Exhibit 10.1 of the Registrant’s Current Report on Form 8-K, filed May 24, 2016).
|
|
|
|
Exhibit No.
|
|
Description of Exhibit
|
|
|
|
10.115
|
|
Amendment No. 2 to Superpriority Secured Debtor-in-Possession Credit Agreement, dated as of May 18, 2016, by and among Peabody Energy Corporation, the guarantors party thereto, the lenders party thereto, the issuing bank party thereto, and Citibank, N.A. as Administrative Agent (Incorporated by reference to Exhibit 10.2 of the Registrant’s Current Report on Form 8-K, filed May 24, 2016).
|
10.116
|
|
Amendment No. 4 to the Superpriority Secured Debtor-In-Possession Credit Agreement, dated as of October 11, 2016, by and among Peabody Energy Corporation, Peabody Global Funding, LLC (f/k/a Global Center for Energy and Human Development, LLC) and certain Debtors parties thereto as guarantors, the lenders party thereto and Citibank, N.A., as administrative agent (Incorporated by reference to Exhibit 10.1 of the Registrant's Current Report on Form 8-K, filed October 14, 2016).
|
10.117
|
|
Amendment No. 5 to Superpriority Secured Debtor-In-Possession Credit Agreement, by and among Peabody Energy Corporation, Peabody Global Funding, LLC (f/k/a Global Center for Energy and Human Development, LLC) and certain Debtors parties thereto as guarantors, the lenders party thereto and Citibank, N.A., as administrative agent (Incorporated by reference to the Registrant’s Current Report on Form 8-K filed November 23, 2016).
|
10.118
|
|
Amendment No. 6 to Superpriority Secured Debtor-In-Possession Credit Agreement, by and among Peabody Energy Corporation, Peabody Global Funding, LLC and certain Debtors parties thereto as guarantors, the lenders party thereto and Citibank, N.A., as administrative agent (Incorporated by reference to the Registrant’s Current Report on Form 8-K filed December 14, 2016).
|
10.119
|
|
Plan Support Agreement entered into as of December 22, 2016 by and among the Registrant and certain other parties thereto (Incorporated by reference to Exhibit 10.1 to the Registrant’s Current Report on Form 8-K filed December 23, 2016).
|
10.120
|
|
Private Placement Agreement entered into as of December 22, 2016 by and among the Registrant and certain of its creditors party thereto (Incorporated by reference to Exhibit 10.2 to the Registrant’s Current Report on Form 8-K filed December 23, 2016).
|
10.121
|
|
Amendment to Private Placement Agreement entered into as of December 28, 2016 by and among the Registrant and certain of its creditors party thereto (Incorporated by reference to Exhibit 10.1 to the Registrant’s Current Report on Form 8-K filed December 30, 2016).
|
10.122
|
|
Backstop Commitment Agreement entered into as of December 23, 2016 by and among the Registrant and certain of its creditors party thereto (Incorporated by reference to Exhibit 10.3 to the Registrant’s Current Report on Form 8-K filed December 23, 2016).
|
10.123
|
|
Amendment to Backstop Commitment Agreement entered into as of December 28, 2016 by and among the Registrant and certain of its creditors party thereto (Incorporated by reference to Exhibit 10.2 to the Registrant’s Current Report on Form 8-K filed December 30, 2016).
|
10.124
|
|
Share Sale and Purchase Agreement entered into as of November 3, 2016 by and among Peabody Australia Mining Pty Ltd, Peabody Energy Australia Pty Ltd, South32 Aluminium (Holdings) Pty Ltd, and South32 Treasury Limited. (Incorporated by reference to Exhibit 10.124 of the Registrant's Annual Report on Form 10-K for the year ended December 31, 2016).
|
10.125
|
|
Exit Facility Commitment Letter entered into as of January 11, 2017, by and among the Registrant, Goldman Sachs Bank USA, JPMorgan Chase Bank, N.A., Credit Suisse AG, Credit Suisse Securities (USA) LLC, Macquarie Capital Funding LLC and Macquarie Capital (USA) Inc. (Incorporated by reference to Exhibit 10.1 to the Registrant’s Current Report on Form 8-K filed on January 12, 2017).
|
10.126
|
|
Receivables Purchase Facility Commitment Letter entered into as of January 27, 2017, by and among the Registrant, P&L Receivables Company, LLC and PNC Bank, National Association (Incorporated by reference to Exhibit 10.1 to the Registrant’s Current Report on Form 8-K filed on January 27, 2017).
|
10.127
|
|
Amendment to Private Placement Agreement entered into as of February 8, 2017 by and among the Registrant and certain of its creditors party thereto. (Incorporated by reference to Exhibit 10.127 of the Registrant's Annual Report on Form 10-K for the year ended December 31, 2016).
|
10.128
|
|
Notice Letter and Term Sheet dated as of February 15, 2017, for Amendments to the Receivables Purchase Facility Commitment Letter entered into as of January 27, 2017, by and among the Registrant, P&L Receivables Company, LLC and PNC Bank, National Association. (Incorporated by reference to Exhibit 10.128 of the Registrant's Annual Report on Form 10-K for the year ended December 31, 2016).
|
10.129
|
|
Settlement Agreement dated as of March 13, 2017 by and among the Registrant, certain subsidiaries of the Registrant, and the United Mine Workers of America 1974 Pension Plan and Trust (Incorporated by reference to Exhibit 10.1 to the Registrant’s Current Report on Form 8-K filed on March 17, 2017).
|
21
|
|
List of Subsidiaries. (Incorporated by reference to Exhibit 10.21 of the Registrant's Annual Report on Form 10-K for the year ended December 31, 2016).
|
23
|
|
Consent of Ernst & Young LLP, Independent Registered Public Accounting Firm. (Incorporated by reference to Exhibit 23 of the Registrant's Annual Report on Form 10-K for the year ended December 31, 2016).
|
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. (Incorporated by reference to Exhibit 31.1 of the Registrant's Annual Report on Form 10-K for the year ended December 31, 2016).
|
Exhibit No.
|
|
Description of Exhibit
|
|
|
|
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. (Incorporated by reference to Exhibit 31.2 of the Registrant's Annual Report on Form 10-K for the year ended December 31, 2016).
|
31.3†
|
|
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.
|
31.4†
|
|
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. (Incorporated by reference to Exhibit 32.1 of the Registrant's Annual Report on Form 10-K for the year ended December 31, 2016).
|
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. (Incorporated by reference to Exhibit 32.2 of the Registrant's Annual Report on Form 10-K for the year ended December 31, 2016).
|
95
|
|
Mine Safety Disclosure required by Item 104 of Regulation S-K. (Incorporated by reference to Exhibit 95 of the Registrant's Annual Report on Form 10-K for the year ended December 31, 2016).
|
101
|
|
Interactive Data File (Form 10-K for the year ended December 31, 2016 filed in XBRL). The financial information contained in the XBRL-related documents is “unaudited” and “unreviewed.” (Incorporated by reference to Exhibit 101 of the Registrant's Annual Report on Form 10-K for the year ended December 31, 2016).
|
*
|
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.
|
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