Peabody Energy
37 named things its latest annual report says its results depend on, each in the company's own words. 17 of them are also named by other companies we've read.
Customers
Five largest customers
earns from · 25% of its revenuenamed as a riskFor the year ended December 31, 2025, 25% of the Company’s revenue was derived from coal supply agreements with its five largest customers, which were primarily supplied under 19 coal supply agreements (excluding trading and brokerage transactions) expiring at various times from 2025 to 2028.Risk factors (Item 1A)
Largest customer
earns from · approximately $291 million, or approximately 8% of Peabody’s total revenue from coal supply agreementsPeabody’s largest customer in 2025 contributed revenue of approximately $291 million, or approximately 8% of Peabody’s total revenue from coal supply agreements, and has contracts expiring in 2026.Business (Item 1)
Also named by AEHR, AR, BF/B, CVLG, DLR, FDXF, FIX, KGS and 6 more
Suppliers
Surety bond providers
depends on · $997.2 million of outstanding surety bondsnamed as a riskThe Company has a surety transaction support agreement with the providers of its surety bond portfolio that expires on December 31, 2026.Risk factors (Item 1A)
Also named by TNL
Australian port and rail take-or-pay arrangements
depends on · $1.0 billionnamed as a riskThe Company has substantial take-or-pay arrangements with its port access and rail transportation providers, predominately in Australia, totaling $1.0 billion, with terms ranging up to 19 years.Risk factors (Item 1A)
Partners and platforms
Middlemount Coal Pty Ltd
50% equity interestIncluded in that count is Peabody’s 50% equity interest in Middlemount Coal Pty Ltd. (Middlemount).Business (Item 1)
Dalrymple Bay Coal Terminal
depends onIn Queensland, seaborne thermal and metallurgical coal from the Company’s mines is exported through the Dalrymple Bay Coal Terminal, in addition to the Abbot Point Coal Terminal used by its joint venture Middlemount Mine.Business (Item 1)
Port of Newcastle
depends onIn New South Wales, the Company’s primary ports for exporting thermal and metallurgical coal are at Port Kembla and Newcastle, which includes both the Port Waratah Coal Services terminal and the terminal operated by Newcastle Coal Infrastructure Group.Business (Item 1)
McDuffie Terminal
depends onPeabody has secured its ability to transport coal from its Shoal Creek Mine under barge and port contracts; the primary port is the McDuffie Terminal in Mobile, Alabama.Business (Item 1)
Other companies
Anglo American plc
$75.0 million depositnamed as a riskOn September 23, 2025, various subsidiaries of Anglo initiated International Chamber of Commerce arbitration proceedings in London, United Kingdom, against Peabody and certain of its affiliates.Risk factors (Item 1A)
Places
Powder River Basin
concentrated in · approximately 49%Revenue from Peabody’s Powder River Basin and Other U.S. Thermal reportable segments, in aggregate, represented approximately 49%, 45% and 44% of the Company’s revenue from coal supply agreements for the years ended December 31, 2025, 2024 and 2023, respectively, during which periods the coal mining activities of those segments contributed approximately 80%, 80% and 82% of the Company’s sales volumes from mining operations, respectively.Business (Item 1)
North Antelope Rochelle Mine
operates in · 65.0North Antelope Rochelle Wyoming S DL, D, T/S T R No 65.0 59.7 62.0Business (Item 1)
Australia
operates innamed as a riskThe Company is subject to income and other taxes in the U.S. and numerous foreign jurisdictions, most significantly Australia.Risk factors (Item 1A)
Also named by AJG, ARWR, AXP, BF/B, CL, CSGP, CVX, DECK and 15 more
Black Warrior River
depends onnamed as a riskDuring 2024, lock outages along the Black Warrior River in Alabama, U.S. negatively impacted Peabody’s sales volume and transportation costs at the Shoal Creek Mine.Business (Item 1)
Also named by HCC
Centurion Mine
operates inThe mine is expected to enhance both the quantity and quality of the Company’s production from the Seaborne Metallurgical reportable segment.Business (Item 1)
Commodities and inputs
Diesel fuel
exposed to its price · approximately $22 millionnamed as a riskA $10 per barrel change in the price of crude oil (the primary component of a refined diesel fuel product) would increase or decrease its annual diesel fuel costs by approximately $22 million based on its expected usage.Market risk (Item 7A)
Also named by ADM, BLDR, CAH, CHD, CHRW, COST, CP, CSX and 43 more
Henry Hub natural gas
competes with · $3.62 per mmBtunamed as a riskThe Henry Hub Natural Gas Prompt Price averaged $3.62 per mmBtu in 2025, versus $2.41 and $2.66 per mmBtu in 2024 and 2023, respectively.Business (Item 1)
Also named by AM, AR, ATI, BSM, CNX, CRGY, DVN, EPD and 13 more
Australian dollar
exposed to its price · approximately $200 to $210 millionnamed as a riskAssuming the Company had no foreign currency hedging instruments in place, its exposure in operating costs and expenses due to a $0.10 change in the Australian dollar/U.S. dollar exchange rate is approximately $200 to $210 million for the next twelve months.Market risk (Item 7A)
Also named by ADBE, BEN, BF/B, CSGP, EEFT, EZPW, GPC, HRB and 13 more
Metallurgical coal
exposed to its price · approximately 27%named as a riskThe Company also produces metallurgical coal for the global steel industry, which accounted for approximately 27% and 25% of its revenue in 2025 and 2024, respectively.Risk factors (Item 1A)
Seaborne thermal and metallurgical coal markets
earns from · approximately 51%Revenue from Peabody’s Seaborne Thermal and Seaborne Metallurgical reportable segments represented approximately 51%, 55% and 56% of the Company’s total revenue from coal supply agreements for the years ended December 31, 2025, 2024 and 2023, respectively, during which periods the coal mining activities of those segments contributed approximately 20%, 20% and 18% of the Company’s sales volumes from mining operations, respectively.Business (Item 1)
Thermal coal
exposed to its pricenamed as a riskThermal coal represented the majority of the Company’s coal sales by volume during 2025 and 2024, with most of these sales to electric power generators.Risk factors (Item 1A)
Also named by NRP
Regulators
U.S. Bureau of Land Management
subject to · 42,167 acresnamed as a riskAs of December 31, 2025, the Company leased a total of 42,167 acres from the federal government subject to those limitations.Risk factors (Item 1A)
Also named by AESI, CHRD, CRC, CRGY, DC, DMLP, DVN, EOG and 7 more
Office of Workers’ Compensation Programs (OWCP)
subject to · approximately $40 millionnamed as a riskThe changed requirements for security posted to self-insure black lung liabilities could result in the Company being required to post additional security of approximately $40 million for its obligations.Business (Item 1)
U.S. Environmental Protection Agency (EPA)
subject tonamed as a riskPeabody will continue to monitor these items, as changes could have significant impact on the U.S. coal mining industry, Peabody’s mining operations and its customers.Business (Item 1)
Also named by AAON, AAP, ALSN, AMRC, APA, APD, APG, AROC and 78 more
Laws and programs
Queensland coal royalties
subject to · 40% tier for the portion of prices above $300 Australian dollars per tonnenamed as a riskThe increased rates increased royalty costs for Peabody’s Queensland operations.Business (Item 1)
One Big Beautiful Bill Act
subject to · approximately $19 millionPeabody realized benefits of approximately $19 million during the year ended December 31, 2025 related to the federal royalty reduction provisions of the legislation.Business (Item 1)
Also named by AA, ABR, ADI, ADM, ALB, AMAT, AMGN, AMKR and 121 more
Surface Mining Control and Reclamation Act (SMCRA)
subject to · $878.6 millionThe Company’s total reclamation bonding requirements in the U.S. were $878.6 million as of December 31, 2025.Business (Item 1)
NSW coal royalties
subject to · 10.8% for open-cut minesThis is equal to 8.8% for deep underground mines (coal extracted at depths greater than 400 meters below ground surface), 9.8% for underground mines and 10.8% for open-cut mines.Business (Item 1)
Black Lung Benefits Revenue Act excise tax
subject to · $54.6 millionPeabody recognized expense related to the tax of $54.6 million, $52.2 million and $57.4 million for the years ended December 31, 2025, 2024 and 2023, respectively.Business (Item 1)
SMCRA Abandoned Mine Land Fund
subject to · $21.4 millionThe Company recognized expense related to the fees of $21.4 million, $20.4 million and $22.2 million for the years ended December 31, 2025, 2024 and 2023, respectively.Business (Item 1)
Australian mine reclamation bonding
subject to · $346.1 millionPeabody’s reclamation bonding requirements in Australia were $346.1 million as of December 31, 2025.Business (Item 1)
Section 45X tax credit
subject to · approximately $5 millionPeabody estimates an annual benefit of approximately $5 million related to the Section 45X tax credit which will be recognized against applicable production costs in the consolidated statements of operations.Business (Item 1)
Safeguard Mechanism (NGER Act)
subject tonamed as a riskThis change in reporting methods is expected to increase the Safeguard Mechanism liability position of open-cut mining operations in Queensland.Business (Item 1)
Fair Work Legislation Amendment (Closing Loopholes) Act 2023
subject tonamed as a riskOrders have been made in relation to labor hire employers who provide labor to Peabody Energy Australia PCI Mine Management Pty Ltd (now a regulated host) at its Coppabella Mine and to Helensburgh Coal Pty Ltd (now a regulated host) at the Metropolitan Mine, increasing Peabody’s operating cost.Business (Item 1)
EPA GHG standards for fossil fuel-fired EGUs
subject tonamed as a riskIf the rule is ultimately affirmed and implemented by the EPA and states, it could have a substantial impact on the use of coal and natural gas for the generation of electricity.Business (Item 1)
Climate superfund laws (New York, Vermont)
subject tonamed as a riskIf the Company becomes subject to “climate superfund” laws and related regulations such as those recently passed in New York and Vermont, it may be required to make significant payments to the relevant governments.Risk factors (Item 1A)
Technology
Electric arc furnaces
competes withnamed as a riskThe steel industry continues to adopt production methods that do not use coal, such as electric arc furnaces.Risk factors (Item 1A)
Also named by HCC