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Derivatives (Tables)
 6 Months Ended
Jun. 30, 2013
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Price Risk Derivatives
At June 30, 2013, the Company held derivatives for risk management purposes that are expected to settle in the following years:
 
(Tons in thousands)
 
2013
 
2014
 
2015
 
Total
Coal sales
 
$
4,449

 
$
4,458

 
$
780

 
$
9,687

Coal purchases
 
723

 
1,260

 
—

 
1,983
Disclosure Of Fair Value Of Derivatives
 
 
June 30, 2013
 
 
 
December 31, 2012
 
 
Fair Value of Derivatives
 
Asset
 
Liability
 
 
 
Asset
 
Liability
 
 
(In thousands)
 
Derivative
 
Derivative
 
 
 
Derivative
 
Derivative
 
 
Derivatives Designated as Hedging Instruments
 
 

 
 

 
 

 
 

 
 

 
 

Coal
 
$
2,298

 
$
(539
)
 
 

 
$
3,277

 
$
(10
)
 
 

 
 


 


 
 
 


 


 
 

Derivatives Not Designated as Hedging Instruments
 
 

 
 

 
 

 
 

 
 

 
 

Heating oil -- diesel purchases
 
3,475

 
—

 
 

 
7,379

 
—

 
 

Heating oil -- fuel surcharges
 
117

 
—

 
 

 
1,961

 
—

 
 

Coal -- held for trading purposes
 
63,794

 
(57,506
)
 
 

 
17,403

 
(16,933
)
 
 

Coal -- risk management
 
25,767

 
(3,095
)
 
 

 
24,843

 
(7,342
)
 
 

Total
 
93,153

 
(60,601
)
 
 

 
51,586

 
(24,275
)
 
 

Total derivatives
 
95,451

 
(61,140
)
 
 

 
54,863

 
(24,285
)
 
 

Effect of counterparty netting
 
(60,598
)
 
60,598

 
 

 
(22,548
)
 
22,548

 
 

Net derivatives as classified in the balance sheets
 
$
34,853

 
$
(542
)
 
$
34,311

 
$
32,315

 
$
(1,737
)
 
$
30,578

 
 
 
 
 
June 30, 2013
 
December 31, 2012
Net derivatives as reflected on the balance sheets
 
 
 
 

 
 

Heating oil
 
Other current assets
 
$
3,592

 
$
9,340

Coal
 
Coal derivative assets
 
31,261

 
22,975

 
 
Coal derivative liabilities
 
(542
)
 
(1,737
)
 
 
 
 
$
34,311

 
$
30,578
Effects Of Derivatives On Measures Of Financial Performance
Derivatives used in Cash Flow Hedging Relationships (in thousands)
For the six months ended June 30  
 
 
Gain (Loss) Recognized in Other Comprehensive Income(Effective Portion)
 
Gains (Losses) Reclassified from Other Comprehensive Income into Income
(Effective Portion)
 
 
2013
 
2012
 
2013
 
2012
Coal sales
(1) 
$
(824
)
 
$
4,724

 
$
1,911

 
$
1,010

Coal purchases
(2) 
431

 
(944
)
 
(510
)
 
—

Totals
 
$
(393
)
 
$
3,780

 
$
1,401

 
$
1,010

 
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 six month periods ended June 30, 2013 and 2012.  
 
Derivatives Not Designated as Hedging Instruments (in thousands)
For the six months ended June 30
 
 
Gain (Loss) Recognized
 
 
2013
 
2012
Coal — unrealized
(3) 
$
5,579

 
$
34,998

Coal — realized
(4) 
$
15,796

 
$
11,829

Heating oil — diesel purchases
(4) 
$
(9,472
)
 
$
(22,086
)
Heating oil — fuel surcharges
(4) 
$
(595
)
 
$
(2,232
)

____________________________________________________________
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
Derivatives used in Cash Flow Hedging Relationships (in thousands)
For the three months ended June 30,  
 
 
Gain (Loss) Recognized in Other Comprehensive Income(Effective Portion)
 
Gains (Losses) Reclassified from Other Comprehensive Income into Income
(Effective Portion)
 
 
2013
 
2012
 
2013
 
2012
Coal sales
(1) 
$
(648
)
 
$
2,231

 
$
689

 
$
809

Coal purchases
(2) 
613

 
(742
)
 
(148
)
 
—

Totals
 
$
(35
)
 
$
1,489

 
$
541

 
$
809

 
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 three month periods ended June 30, 2013 and 2012.  
 
Derivatives Not Designated as Hedging Instruments (in thousands)
For the three months ended June 30,
 
 
Gain (Loss) Recognized
 
 
2013
 
2012
Coal — unrealized
(3) 
$
4,109

 
$
27,446

Coal — realized
(4) 
$
6,579

 
$
8,671

Heating oil — diesel purchases
(4) 
$
(5,211
)
 
$
(22,509
)
Heating oil — fuel surcharges
(4) 
$
(30
)
 
$
(2,599
)

____________________________________________________________
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