Derivatives (Tables)

9 Months Ended

Sep. 30, 2021

Derivatives

Schedule of Price Risk Derivatives

(Tons in thousands)	2021	2022	Total
Coal sales	338	33	371
Coal purchases	31	33	64

Disclosure of Fair Value of Derivatives

	September 30, 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		7,768		(7,688)				1,914		(1,595)
Coal -- risk management		3,233		(31,874)				1,094		(804)
Total	$	11,001	$	(39,562)			$	3,245	$	(2,399)
Total derivatives	$	11,001	$	(39,562)			$	3,245	$	(2,399)
Effect of counterparty netting		(11,001)		11,001				(2,392)		2,392
Net derivatives as classified in the balance sheets	$	—	$	(28,561)	$	(28,561)	$	853	$	(7)	$	846

		September 30,		December 31,
		2021		2020
Net derivatives as reflected on the balance sheets (in thousands)
Heating Oil and coal	Other current assets	$	—	$	853
Coal	Accrued expenses and other current liabilities		(28,561)		(7)
		$	(28,561)	$	846

Effects of Derivatives on Measures of Financial Performance

		Gain (Loss) Recognized in Other Comprehensive Income				Gains (Losses) Reclassified from Other Comprehensive Income into Income
		2021		2020		2021		2020
Coal sales	(1)	$	—	$	(25)	$	—	$	(569)
Coal purchases	(2)		—		25		—		471
Totals		$	—	$	—	$	—	$	(98)

		Gain (Loss) Recognized
			2021		2020
Coal  trading — realized and unrealized	(3)	$	—	$	1
Coal risk management — unrealized	(3)		(19,641)		(2,650)
Change in fair value of coal derivatives and coal trading activities, net total		$	(19,641)	$	(2,649)
Coal risk management— realized	(4)	$	(6,495)	$	2,593
Heating oil — diesel purchases	(4)	$	—	$	(184)

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

		Gain (Loss) Recognized in Other Comprehensive Income				Gains (Losses) Reclassified from Other Comprehensive Income into Income
		2021		2020		2021		2020
Coal sales	(1)	$	—	$	574	$	—	$	(1,471)
Coal purchases	(2)		—		(570)		—		1,177
Totals		$	—	$	4	$	—	$	(294)

		Gain (Loss) Recognized
		2021		2020
Coal trading— realized and unrealized	(3)	$	—	$	222
Coal risk management— unrealized	(3)		(28,931)		(3,561)
Natural gas trading — realized and unrealized	(3)		—		76
Change in fair value of coal derivatives and coal trading activities, net total		$	(28,931)	$	(3,263)
Coal risk management — realized	(4)	$	(7,008)	$	6,950
Heating oil — diesel purchases	(4)	$	—	$	(889)

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