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Derivatives (Tables)
 9 Months Ended
Sep. 30, 2013
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Price Risk Derivatives
At September 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
 
2,314

 
4,458

 
780

 
7,552

Coal purchases
 
609

 
1,260

 
—

 
1,869
Disclosure Of Fair Value Of Derivatives
 
 
September 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
 
$
3,009

 
$
(4
)
 
 

 
$
3,277

 
$
(10
)
 
 

 
 


 


 
 
 


 


 
 

Derivatives Not Designated as Hedging Instruments
 
 

 
 

 
 

 
 

 
 

 
 

Heating oil -- diesel purchases
 
3,825

 
—

 
 

 
7,379

 
—

 
 

Heating oil -- fuel surcharges
 
400

 
—

 
 

 
1,961

 
—

 
 

Coal -- held for trading purposes
 
59,789

 
(52,383
)
 
 

 
17,403

 
(16,933
)
 
 

Coal -- risk management
 
15,907

 
(3,903
)
 
 

 
24,843

 
(7,342
)
 
 

Total
 
79,921

 
(56,286
)
 
 

 
51,586

 
(24,275
)
 
 

Total derivatives
 
82,930

 
(56,290
)
 
 

 
54,863

 
(24,285
)
 
 

Effect of counterparty netting
 
(55,869
)
 
55,869

 
 

 
(22,548
)
 
22,548

 
 

Net derivatives as classified in the balance sheets
 
$
27,061

 
$
(421
)
 
$
26,640

 
$
32,315

 
$
(1,737
)
 
$
30,578

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

 
 

Heating oil
 
Other current assets
 
$
4,225

 
$
9,340

Coal
 
Coal derivative assets
 
22,836

 
22,975

 
 
Coal derivative liabilities
 
(421
)
 
(1,737
)
 
 
 
 
$
26,640

 
$
30,578
Effects Of Derivatives On Measures Of Financial Performance
Derivatives used in Cash Flow Hedging Relationships (in thousands)
For the nine months ended September 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) 
$
2,308

 
$
4,983

 
$
2,822

 
$
1,552

Coal purchases
(2) 
(511
)
 
(1,122
)
 
(633
)
 
—

Totals
 
$
1,797

 
$
3,861

 
$
2,189

 
$
1,552

 
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 nine month periods ended September 30, 2013 and 2012.  
 
Derivatives Not Designated as Hedging Instruments (in thousands)
For the nine months ended September 30
 
 
Gain (Loss) Recognized
 
 
2013
 
2012
Coal — unrealized
(3) 
$
(5,089
)
 
$
23,670

Coal — realized
(4) 
$
25,725

 
$
25,901

Heating oil — diesel purchases
(4) 
$
(9,760
)
 
$
(16,902
)
Heating oil — fuel surcharges
(4) 
$
(817
)
 
$
(1,140
)
____________________________________________________________
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 September 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) 
$
3,132

 
$
259

 
$
911

 
$
542

Coal purchases
(2) 
(942
)
 
(178
)
 
(123
)
 
—

Totals
 
$
2,190

 
$
81

 
$
788

 
$
542

 
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 September 30, 2013 and 2012.  
 
Derivatives Not Designated as Hedging Instruments (in thousands)
For the three months ended September 30,
 
 
Gain (Loss) Recognized
 
 
2013
 
2012
Coal — unrealized
(3) 
$
(10,668
)
 
$
(11,328
)
Coal — realized
(4) 
$
9,929

 
$
14,072

Heating oil — diesel purchases
(4) 
$
(288
)
 
$
5,184

Heating oil — fuel surcharges
(4) 
$
(222
)
 
$
1,092

____________________________________________________________
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