Derivatives (Tables)

3 Months Ended

Mar. 31, 2021

Derivatives

Schedule of Price Risk Derivatives

(Tons in thousands)	2021
Coal sales	320
Coal purchases	62

Disclosure of Fair Value of Derivatives

	March 31, 2021						December 31, 2020
Fair Value of Derivatives	Asset		Liability				Asset		Liability
(In thousands)	Derivative		Derivative				Derivative		Derivative
Derivatives Designated as Hedging Instruments
Coal	$	—	$	—			$	—	$	—
Derivatives Not Designated as Hedging Instruments
Heating oil -- diesel purchases		—		—				237		—
Coal -- held for trading purposes		1,892		(1,653)				1,914		(1,595)
Coal -- risk management		998		(1,236)				1,094		(804)
Total	$	2,890	$	(2,889)			$	3,245	$	(2,399)
Total derivatives	$	2,890	$	(2,889)			$	3,245	$	(2,399)
Effect of counterparty netting		(2,419)		2,419				(2,392)		2,392
Net derivatives as classified in the balance sheets	$	471	$	(470)	$	1	$	853	$	(7)	$	846

		March 31,		December 31,
		2021		2020
Net derivatives as reflected on the balance sheets (in thousands)
Coal	Other current assets	$	471	$	853
Coal	Accrued expenses and other current liabilities		(470)		(7)
		$	1	$	846

Effects of Derivatives on Measures of Financial Performance

Derivatives used in Cash Flow Hedging Relationships (in thousands)

Three Months Ended March 31,

		Gain (Loss) Recognized in Other Comprehensive Income				Gains (Losses) Reclassified from Other Comprehensive Income into Income
		2021		2020		2021		2020
Coal sales	(1)	$	—	$	159	$	—	$	—
Coal purchases	(2)		—		(156)		—		—
Totals		$	—	$	3	$	—	$	—

At March 31, 2021, the Company did not have any derivative contracts designated as hedging instruments.

Derivatives Not Designated as Hedging Instruments (in thousands)

Three Months Ended March 31,

		Gain (Loss) Recognized
			2021		2020
Coal  trading — realized and unrealized	(3)	$	—	$	221
Coal risk management — unrealized	(3)		(528)		(1,040)
Natural gas  trading— realized and unrealized	(3)		—		76
Change in fair value of coal derivatives and coal trading activities, net total		$	(528)	$	(743)
Coal risk management— realized	(4)	$	138	$	1,601
Heating oil — diesel purchases	(4)	$	—	$	(1,033)

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) expense, net