To mitigate the impact of lower coal pricing, the company has continued to drive operational efficiencies, optimize production across our mining platform and control expenses at all operational and administrative levels of the organization, which has led to decreases in operating costs and expenses of $401.4 million and in selling and administrative expenses of $15.4 million during the March quarter compared to the prior year period.

Also included in operating results for the March quarter are aggregate restructuring charges of $12.1 million, recognized in connection with certain actions initiated to reduce headcount and costs in Peabody’s Midwestern US Mining and Powder River Basin Mining operating segments, which actions are expected to better align its workforce with its near-term market outlook and improve its cost position moving forward.

Overall, Adjusted EBITDA of $30.1 million for the three months ended March 31, 2016 reflected a year-over-year decrease of $135.5 million to $141.3 million.

Net loss attributable to common stockholders improved for the March quarter compared to the same period in the prior year by $11.5 million.

Lower Adjusted EBITDA was partially offset by debt extinguishment expenses in the 2015 three-month period related to the early refinancing of our 7.375% Senior Notes due 2016, lower depreciation, depletion and amortization, and unrealized gains on non-coal trading derivative contracts in the current quarter.