v3.26.1
Equity Method Investments
3 Months Ended
Mar. 31, 2026
Equity Method Investments and Joint Ventures [Abstract]  
Equity Method Investments Equity Method Investments
The Company’s equity method investments include its interests in Middlemount Coal Pty Ltd. (Middlemount) and certain other equity method investments, including R3 Renewables II LLC (R3 II).
The table below summarizes the book value of those investments, which are reported in “Investments and other assets” in the condensed consolidated balance sheets, and the related “Loss from equity affiliates” in the unaudited condensed consolidated statements of operations:
Loss from Equity Affiliates
Book Value atThree Months Ended March 31,
March 31, 2026December 31, 202520262025
(Dollars in millions)
Equity method investment related to Middlemount$44.0 $47.5 $4.5 $6.3 
Other equity method investments— — 1.2 0.4 
Total equity method investments$44.0 $47.5 $5.7 $6.7 
Peabody has a 25% equity interest in R3 II. The unrelated party with the remaining equity interest in R3 II has a contingent consideration for the future obligation to pay Peabody milestone payments as defined when R3 II was established in 2024.