Derivatives (Tables)

3 Months Ended

Mar. 31, 2012

Derivatives [Abstract]

Schedule of Price Risk Derivatives

(Tons in thousands)
	2012	2013	2014	2015
Coal sales	(3,025)	(1,117)	(1,440)	(720)
Coal purchases	417	-	-	-

Disclosure Of Fair Value Of Derivatives

	March 31, 2012			December 31, 2011
Fair Value of Derivatives	Asset	Liability		Asset	Liability
(In thousands)	Derivative	Derivative		Derivative	Derivative
Derivatives Designated as Hedging Instruments
Heating oil — diesel purchases	$                  -	$                  -		$            8,997	$                  -
Coal	3,256	(218)		1,109	-
Total	3,256	(218)		10,106	-
Derivatives Not Designated as Hedging Instruments
Heating oil — diesel purchases	12,869	-		-	-
Heating oil — fuel surcharges	2,837	-		1,797	-
Coal — held for trading purposes	26,945	(33,411)		15,505	(19,927)
Coal	22,491	(6,119)		14,855	(6,035)
Total	65,142	(39,530)		32,157	(25,962)
Total derivatives	68,398	(39,748)		42,263	(25,962)
Effect of counterparty netting	(30,648)	30,648		(18,134)	18,134
Net derivatives as classified in the balance sheets	$ 37,750	$ (9,100)	$ 28,650	$ 24,129	$ (7,828)	$ 16,301

		March 31,	December 31,
		2012	2011
Net derivatives as reflected on the balance sheets
Heating oil	Other current assets	$                 15,707	$              10,794
Coal	Coal derivative assets	22,043	13,335
	Coal derivative liabilities	(9,100)	(7,828)
		$                 28,650	$              16,301

Effects Of Derivatives On Measures Of Financial Performance

Three Months Ended March 31
Derivatives used in Fair Value Hedging		Hedged Items in Fair Value					Loss on Hedged Items In Fair
Relationships (in thousands)		Hedge Relationships					Value Hedge Relationships
		2012		2011			2012		2011
Coal	$	-	$	-	Firm commitments	$	-	$	-

Derivatives used in Cash Flow Hedging Relationships
(in thousands)						Gains (Losses) Reclassified
		Gain (Loss) Recognized in OCI				from OCI into Income
		(Effective Portion)				(Effective Portion)
		2012		2011		2012		2011
Heating oil — diesel purchases	$	-	$	14,258	$	-	$	3,170	(2)
Coal sales		2,493		1,406		201		87	(1)
Coal purchases		(202)		(876)		-		—	(2)
Totals	$	2,291	$	14,788	$	201	$	3,257

		Gain (Loss) Recognized in
		Income (Ineffective Portion
		and Amount Excluded from
		Effectiveness Testing)
		2012		2011
Heating oil — diesel purchases	$	-	$	-
Coal sales		-		-
Coal purchases		-		-
Totals	$	-	$	-

		Derivatives Not Designated as
		Hedging Instruments
		2012		2011
Coal — unrealized	$	7,552	$	(1,045)	(3)
Coal — realized		3,158		-	(4)
Heating oil — diesel purchases		423		-	(4)
Heating oil — fuel surcharges — unrealized	$	367	$	-	(4)

Location in Statement of Income:

(1) — Revenues

(2) — Cost of sales

(3) — Change in fair value of coal derivatives and coal trading activities, net

(4) — Other operating income, net