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Derivatives (Tables)

12 Months Ended

Dec. 31, 2021

Derivatives

Schedule of Price Risk Derivatives


(Tons in thousands)		2022
Coal sales		165
Coal purchases		33

Disclosure of Fair Value of Derivatives


		December 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			1,219			—						237			—
Coal -- held for trading purposes			—			—						1,914			(1,595)
Coal -- risk management			4,885			(2,203)						1,094			(804)
Total		$	6,104		$	(2,203)					$	3,245		$	(2,399)
Total derivatives		$	6,104		$	(2,203)					$	3,245		$	(2,399)
Effect of counterparty netting			(1,890)			1,890						(2,392)			2,392
Net derivatives as classified in the balance sheets		$	4,214		$	(313)		$	3,901		$	853		$	(7)		$	846


				December 31,			December 31,
				2021			2020
Net derivatives as reflected on the balance sheets (in thousands)
Heating Oil and coal		Other current assets		$	4,214		$	853
Coal		Accrued expenses and other current liabilities			(313)			(7)
				$	3,901		$	846

Effects of Derivatives on Measures of Financial Performance

Derivatives used in Cash Flow Hedging Relationships (in thousands)

For the noted periods,


		Gain (Loss) Recognized in Other Comprehensive
		Income (Effective Portion)
		Year Ended			Year Ended			Year Ended
		December 31,			December 31,			December 31,
		2021			2020			2019
Coal sales	⁽¹⁾	$	—		$	500		$	10,249
Coal purchases	⁽²⁾		—			(496)			(1,231)
		$	—		$	4		$	9,018


		Gains (Losses) Reclassified from Other
		Comprehensive Income into Income
		(Effective Portion)
		Year Ended			Year Ended			Year Ended
		December 31,			December 31,			December 31,
		2021			2020			2019
Coal sales		$	—		$	(1,850)		$	10,167
Coal purchases			—			1,458			(686)
		$	—		$	(392)		$	9,481

Derivatives Not Designated as Hedging Instruments (in thousands)

For the noted periods,


			Gain (Loss) Recognized
			Year Ended			Year Ended			Year Ended
			December 31,			December 31,			December 31,
			2021			2020			2019
Coal trading— realized and unrealized	⁽³⁾		$	—		$	222		$	(1,013)
Coal risk management— unrealized	⁽³⁾			2,392			(5,517)			19,713
Natural gas trading — realized and unrealized	⁽³⁾			—			76			(99)
Change in fair value of coal derivatives and coal trading activities, net total			$	2,392		$	(5,219)		$	18,601

Coal risk management — realized	⁽⁴⁾		$	(27,464)		$	9,258		$	487
Heating oil — diesel purchases	⁽⁴⁾		$	—		$	(558)		$	(2,291)

Location in income statement:

(1)

— Revenues

(2)

— Cost of sales

(3)

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

(4)

— Other operating income, net