Spreadsheet: 7bbc2626-fed8-4e9f-9927-62df89820d48
Sheet: Calendar 2003

PEABODY ENERGY CORPORATION
Quarterly Consolidated Statements of Operations
(Dollars in millions, except per share data)
 |  |  | Quarters Ended (Unaudited) |  |  |  |  |  |  |  | (Audited) |  | Peabody
 |  |  | March 31, |  | June 30, |  | Sept. 30, |  | Dec. 31, |  | Calendar |  | Continuing
 |  |  | 2003 |  | 2003 |  | 2003 |  | 2003 |  | 2003 |  | Operations3
REVENUES
Sales |  |  | 657.8 |  | 671 |  | 682 |  | 718.5 |  | 2729.3 |  | 2142.8
Other revenues |  |  | 22.4 |  | 20.4 |  | 17.9 |  | 25.3 |  | 86 |  | 82.8
Total revenues |  |  | 680.2 |  | 691.4 |  | 699.9 |  | 743.8 |  | 2815.3 |  | 2225.6
OPERATING COSTS AND EXPENSES
Operating costs and expenses |  |  | 565.7 |  | 579.1 |  | 578.2 |  | 609.2 |  | 2332.2 |  | 1745.7
Depreciation, depletion and amortization |  |  | 56.1 |  | 59.5 |  | 61.2 |  | 57.5 |  | 234.3 |  | 180.3
Asset retirement obligation expense |  |  | 6.5 |  | 6.6 |  | 7.5 |  | 10.6 |  | 31.2 |  | 13.2
Selling and administrative expenses |  |  | 25.3 |  | 28.5 |  | 22.6 |  | 32.1 |  | 108.5 |  | 66.7
Other operating income:
Net gain on disposal of assets |  |  | -7.7 |  | -11.7 |  | -4 |  | -9.4 |  | -32.8 |  | -9.4
Income from equity affiliates |  |  | -0.2 |  | -0.9 |  | -1.2 |  | -0.6 |  | -2.9 |  | 0.5
OPERATING PROFIT |  |  | 34.5 |  | 30.3 |  | 35.59999999999991 |  | 44.39999999999986 |  | 144.8 |  | 228.6
Interest expense |  |  | 26.2 |  | 28.9 |  | 22.4 |  | 21.1 |  | 98.6 |  | 90.8
Early debt extinguishment costs |  |  | 21.1 |  | 32.3 |  | 0 |  | 0 |  | 53.4 |  | 53.5
Interest income |  |  | -0.7 |  | -1.5 |  | -0.4 |  | -1.5 |  | -4.1 |  | -2.1
INCOME (LOSS) BEFORE INCOME TAXES
AND MINORITY INTERESTS |  |  | -12.1 |  | -29.4 |  | 13.59999999999991 |  | 24.79999999999986 |  | -3.1 |  | 86.4
Income tax provision (benefit) |  |  | -12.3 |  | -28.8 |  | -8.6 |  | 2 |  | -47.7 |  | -8
Minority interests |  |  | 1.1 |  | 0.7 |  | 0.7 |  | 0.6 |  | 3.1 |  | 3
INCOME (LOSS) BEFORE CUMULATIVE EFFECT
OF ACCOUNTING CHANGES |  |  | -0.8999999999999937 |  | -1.30000000000004 |  | 21.49999999999991 |  | 22.19999999999986 |  | 41.5 |  | 91.4
Cumulative effect of accounting changes, net of taxes |  |  | -10.2 |  | 0 |  | 0 |  | 0 |  | -10.2 |  | -10.2
INCOME FROM CONTINUING OPERATIONS |  |  | -11.1 |  | -1.30000000000004 |  | 21.49999999999991 |  | 22.19999999999986 |  | 31.3 |  | 81.2
 | Gain (loss) from discontinued operations, net of taxes |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | -49.9
NET INCOME (LOSS) |  |  | -11.1 |  | -1.30000000000004 |  | 21.49999999999991 |  | 22.19999999999986 |  | 31.3 |  | 31.3
Diluted number of shares (weighted average in millions)1 |  |  | 209.66 |  | 211.01 |  | 220.9 |  | 222.74 |  | 219.34
EPS - Income (loss) before accounting changes1 |  |  | 0 |  | -0.01 |  | 0.1 |  | 0.1 |  | 0.19
EPS - Net income (loss)1 |  |  | -0.05 |  | -0.01 |  | 0.1 |  | 0.1 |  | 0.14
EBITDA |  |  | 97.1 |  | 96.39999999999995 |  | 104.3 |  | 112.5 |  | 410.3
INCOME BEFORE EARLY DEBT EXTINGUISHMENT
COSTS AND ACCOUNTING CHANGES2 |  |  | 20.2 |  | 31 |  | 21.49999999999991 |  | 22.19999999999986 |  | 94.90000000000018
Diluted EPS - Income before early debt extinguishment
costs and accounting changes2 |  |  | 0.09634830388827416 |  | 0.1478612584424007 |  | 0.102548937306826 |  | 0.1058877399168155 |  | 0.4526462395543184
1 | Reflects the company's March 30, 2005 and February 22, 2006 two-for-one stock splits.
2 | For a better comparison with 2002 results, we have presented a pro forma measure of income and EPS
 | excluding the charges related to the early debt extinguishment incurred in 2003. Statement of Financial
 | Accounting Standards No. 145, effective Jan. 1, 2003, requires the classification of costs related to
 | early debt extinguishment, which were previously considered extraordinary items, in results from operations.
3 | Adjusted for discontinued operations of Patriot Coal Corporation and the assets held for sale.
This information is intended to be reviewed in conjunction with the company's filings with the Securities and Exchange Commission.