Spreadsheet: 7bbc2626-fed8-4e9f-9927-62df89820d48
Sheet: 2008 - 2011

PEABODY ENERGY CORPORATION
Condensed Consolidated Statements of Operations
(In millions, except per share data)
(Audited)
 |  |  | Year Ended |  | Year Ended |  | Year Ended |  | Year Ended
 |  |  | December 31, |  | December 31, |  | December 31, |  | December 31,
 |  |  | 2011 |  | 2010 |  | 2009 |  | 2008
REVENUES |  |  | 7895.9 |  | 6668.2 |  | 5746.4 |  | 6237.6
COSTS AND EXPENSES
Operating costs and expenses |  |  | 5477.6 |  | 4637.7 |  | 4244.9 |  | 4385.4
Depreciation, depletion and amortization |  |  | 474.3 |  | 429.5 |  | 390.8 |  | 387.2
Asset retirement obligation expenses |  |  | 52.6 |  | 45.9 |  | 38.9 |  | 47.2
Selling and administrative expenses |  |  | 268.2 |  | 232.2 |  | 199.1 |  | 197.3
Acquisition costs related to [NAME] |  |  | 85.19999999999999
Other operating (income) loss:
Net gain on disposal or exchange of assets |  |  | -76.9 |  | -29.9 |  | -23.2 |  | -72.8
Asset impairment and mine closure costs |  |  | 0 |  | 0 |  | 34.7 |  | 0
Loss from equity affiliates |  |  | 19.2 |  | 1.699999999999999 |  | 34.39999999999999 |  | 0
OPERATING PROFIT |  |  | 1595.699999999999 |  | 1351.1 |  | 826.8000000000002 |  | 1293.300000000001
Interest income |  |  | -18.9 |  | -9.600000000000001 |  | -8.1 |  | -9.9
Interest expense |  |  | 238.6 |  | 222 |  | 201.1 |  | 227
INCOME FROM CONTINUING OPERATIONSBEFORE INCOME TAXES |  |  | 1375.999999999999 |  | 1138.7 |  | 633.8000000000002 |  | 1076.200000000001
Income tax provision:
Provision |  |  | 364.1 |  | 265.8 |  | 125.5 |  | 229.1
Tax benefit related to asset impairment and mine closure costs |  |  | 0 |  | 0 |  | -12.1 |  | 0
Remeasurement (benefit) expense related to foreign income tax accounts |  |  | -0.9000000000000021 |  | 47.9 |  | 74.4 |  | -65.2
Income tax provision |  |  | 363.2 |  | 313.7 |  | 187.8 |  | 163.9
INCOME FROM CONTINUING OPERATIONS, NET OF INCOME TAXES |  |  | 1012.799999999999 |  | 825.0000000000002 |  | 446.0000000000002 |  | 912.3000000000012
 | (Loss) income from discontinued operations, net of income taxes |  | -66.5 |  | -22.8 |  | 17 |  | 46.8
NET INCOME |  |  | 946.299999999999 |  | 802.2000000000003 |  | 463.0000000000002 |  | 959.1000000000012
 | Less: Net (loss) income attributable to noncontrolling interests |  | -11.4 |  | 28.2 |  | 14.8 |  | 6.2
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS |  |  | 957.699999999999 |  | 774.0000000000002 |  | 448.2000000000002 |  | 952.9000000000011
Diluted shares outstanding (weighted average in millions) |  |  | 270.3 |  | 269.9 |  | 267.5 |  | 270.7
Diluted EPS - Income from Continuing Operations (1) |  |  | 3.77 |  | 2.92 |  | 1.6 |  | 3.33
Adjusted EBITDA (2) |  |  | 2122.599999999999 |  | 1826.5 |  | 1291.2 |  | 1727.7
(1) | We compute EPS using the two-class method, which is an earnings allocation method that determines EPS separately for common stock and participating securities. As a result, it may not be possible to recalculate EPS directly from information presented in our condensed consolidated statements of operations.
(2) | Adjusted EBITDA is defined as income from continuing operations before deducting net interest expense, income taxes, asset retirement obligation expenses, depreciation, depletion and amortization, asset impairment and mine closure costs and amortization of basis difference associated with equity method investments.  Adjusted EBITDA, which is not calculated identically by all companies, is not a substitute for operating income, net income or cash flow as determined in accordance with United States generally accepted accounting principles.  Management uses Adjusted EBITDA as a key measure of operating performance and also believes it is a useful indicator of the company’s ability to meet debt service and capital expenditure requirements.
This information is intended to be reviewed in conjunction with the company's filings with the Securities and Exchange Commission.