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Derivatives (Tables)
 12 Months Ended
Dec. 31, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Price Risk Derivatives
At December 31, 2014, the Company held derivatives for risk management purposes that are expected to settle in the following years:
 
(Tons in thousands)
 
2015
 
2016
 
Total
Coal sales
 
4,522

 
280

 
4,802

Coal purchases
 
2,134

 
—

 
2,134
Disclosure Of Fair Value Of Derivatives
 The fair value and location of derivatives reflected in the accompanying consolidated balance sheets are as follows:
 
 
December 31, 2014
 
 
 
December 31, 2013
 
 
Fair Value of Derivatives
 
Asset
 
Liability
 
 
 
Asset
 
Liability
 
 
(In thousands)
 
Derivative
 
Derivative
 
 
 
Derivative
 
Derivative
 
 
Derivatives Designated as Hedging Instruments
 
 

 
 

 
 

 
 

 
 

 
 

Coal
 
$
6,535

 
$
(2,492
)
 
 

 
$
909

 
$
(26
)
 
 

 
 


 


 
 
 


 


 
 

Derivatives Not Designated as Hedging Instruments
 
 

 
 

 
 

 
 

 
 

 
 

Heating oil -- diesel purchases
 
300

 
—

 
 

 
4,681

 
—

 
 

Heating oil -- fuel surcharges
 
—

 
—

 
 

 
422

 
—

 
 

Coal held for trading purposes, exchange traded swaps and futures
 
96,898

 
(93,272
)
 
 

 
55,327

 
(45,763
)
 
 

Coal -- risk management
 
8,510

 
(3,688
)
 
 

 
6,342

 
(1,950
)
 
 

Total
 
105,708

 
(96,960
)
 
 

 
66,772

 
(47,713
)
 
 

Total derivatives
 
112,243

 
(99,452
)
 
 

 
67,681

 
(47,739
)
 
 

Effect of counterparty netting
 
(98,686
)
 
98,686

 
 

 
(47,727
)
 
47,727

 
 

Net derivatives as classified in the balance sheets
 
$
13,557

 
$
(766
)
 
$
12,791

 
$
19,954

 
$
(12
)
 
$
19,942

 
 
 
 
 
December 31,
 
 
 
 
2014
 
2013
Net derivatives as reflected on the balance sheets
 
 
 
 

 
 

Heating oil
 
Other current assets
 
$
300

 
$
5,103

Coal
 
Coal derivative assets
 
13,257

 
14,851

 
 
Accrued expenses and other current liabilities
 
(766
)
 
(12
)
 
 
 
 
$
12,791

 
$
19,942
Effects Of Derivatives On Measures Of Financial Performance
The effects of derivatives on measures of financial performance are as follows: 

Derivatives used in Cash Flow Hedging Relationships (in thousands)
For the year ended December 31,  
 
 
Gain (Loss) Recognized in Other Comprehensive Income (Effective Portion)
 
 
 
Gains (Losses) Reclassified from Other Comprehensive Income into Income
(Effective Portion)
 
 
 
2014
 
2013
 
2012
 
 
 
2014
 
2013
 
2012
 
Coal sales
(1) 
$
10,842

 
$
(338
)
 
7,690

 
 
 
$
5,336

 
$
3,664

 
$
2,675

 
Coal purchases
(2) 
(5,097
)
 
526

 
(2,440
)
 
 
 
(2,693
)
 
(683
)
 
—

 
 
 
$
5,745

 
$
188

 
$
5,250

 
 
 
$
2,643

 
$
2,981

 
$
2,675

 
 
No ineffectiveness or amounts excluded from effectiveness testing relating to the Company’s cash flow hedging relationships were recognized in the results of operations in the years ended December 31, 2014, 2013 and 2012.  
 
Derivatives Not Designated as Hedging Instruments (in thousands)
For the year ended December 31,
 
 
Gain (Loss) Recognized
 
 
2014
 
2013
 
2012
Coal — unrealized
(3) 
$
430

 
$
(12,700
)
 
$
8,272

Coal — realized
(4) 
$
5,956

 
$
32,534

 
$
43,990

Heating oil — diesel purchases
(4) 
$
(7,848
)
 
$
(9,791
)
 
$
(22,281
)
Heating oil — fuel surcharges
(4) 
$
(405
)
 
$
(947
)
 
$
(2,209
)


Location in statement of operations:
(1) — Revenues
(2) — Cost of sales
(3) — Change in fair value of coal derivatives and coal trading activities, net
(4) — Other operating income, net