Peabody Energy Corp was incorporated in Delaware in 1998 and became a public company in 2001. Peabody Energy is a private-sector coal company and it owns interests in 30 coal mining operations, including a majority interest in 29 coal operations located in the United States (U.S.) and Australia. The Company's operations consist of four principal segments: three Mining segments and one Trading and Brokerage segment. The Company's three mining segments are Western U.S. Mining, Midwestern U.S. Mining and Australian Mining. Its fifth segment, Corporate and Other, includes mining and export/transportation joint ventures, energy-related commercial activities as well as the management of its coal reserve and real estate holdings. The principal business of the Western and Midwestern U.S. Mining segments is the mining, preparation and sale of thermal coal, sold primarily to electric utilities. The Company's Western U.S. Mining segment consists of its Powder River Basin, Southwest and Colorado operations. The Company's Midwestern U.S. Mining segment consists of its Illinois and Indiana operations. The business of its Australian Mining segment is the mining of various qualities of low-sulfur, high Btu coal (metallurgical coal) as well as thermal coal. Through its Trading and Brokerage segment, the Company is engaged in the brokering of coal sales both as principal and agent in support of various coal production-related activities that may involve coal to be produced from its mines, coal sourcing arrangements with third-party mining companies or offtake agreements with producers. The Company's main U.S. competitors are other large coal producers; including Alpha Natural Resources, Inc., Arch Coal, Inc., Cloud Peak Energy Inc., and CONSOL Energy Inc., Major international competitors include Anglo-American PLC, BHP Billiton, China Coal, Rio Tinto, Shenhua Group and Xstrata PLC.