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Derivatives (Tables)
 12 Months Ended
Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Price Risk Derivatives
At December 31, 2019, the Company held derivatives for risk management purposes that are expected to settle in the following years:
 
(Tons in thousands)
 
2020
 
2021
 
Total
Coal sales
 
668

 
—

 
668

Coal purchases
 
668

 
—

 
668
Disclosure Of Fair Value Of Derivatives
 The fair value and location of derivatives reflected in the accompanying consolidated balance sheets are as follows:
 
 
December 31, 2019
 
 
 
December 31, 2018
 
 
Fair Value of Derivatives
 
Asset
 
Liability
 
 
 
Asset
 
Liability
 
 
(In thousands)
 
Derivative
 
Derivative
 
 
 
Derivative
 
Derivative
 
 
Derivatives Designated as Hedging Instruments
 
 

 
 

 
 

 
 

 
 

 
 

Coal
 
$
1,351

 
$
(962
)
 
 

 
$
2,342

 
$
(805
)
 
 

 
 


 


 
 
 


 


 
 

Derivatives Not Designated as Hedging Instruments
 
 

 
 

 
 

 
 

 
 

 
 

Heating oil -- diesel purchases
 
133

 
(112
)
 
 

 
532

 
—

 
 

Coal held for trading purposes, exchange traded swaps and futures
 
18,467

 
(18,940
)
 
 

 
10,329

 
(10,701
)
 
 

Coal -- risk management
 
11,662

 
(5,856
)
 
 

 
5,672

 
(19,579
)
 
 

Natural gas
 
3

 
—

 
 
 
4

 
(4
)
 
 
Total
 
$
30,265

 
(24,908
)
 
 

 
$
16,537

 
$
(30,284
)
 
 

Total derivatives
 
$
31,616

 
$
(25,870
)
 
 

 
$
18,879

 
$
(31,089
)
 
 

Effect of counterparty netting
 
(25,759
)
 
25,759

 
 

 
(17,801
)
 
17,801

 
 

Net derivatives as classified in the balance sheets
 
$
5,857

 
$
(111
)
 
$
5,746

 
$
1,078

 
$
(13,288
)
 
$
(12,210
)
 
 
 
 
 
December 31, 2019
 
December 31, 2018
Net derivatives as reflected on the balance sheets
 
 
 
 

 
 

Heating oil
 
Other current assets
 
$
133

 
$
532

Coal
 
Other current assets
 
5,724

 
546

 
 
Accrued expenses and other current liabilities
 
(111
)
 
(13,288
)
 
 
 
 
$
5,746

 
$
(12,210
)
Effects Of Derivatives On Measures Of Financial Performance

The effects of derivatives on measures of financial performance are as follows: 

Derivatives used in Cash Flow Hedging Relationships (in thousands)
For the noted periods,
 
 
Gain (Loss) Recognized in Other Comprehensive Income (Effective Portion)
 
 
Year Ended December 31, 2019
 
Year Ended December 31, 2018
 
Year Ended December 31, 2017
Coal sales
(1) 
$
10,249

 
$
(7,517
)
 
$
(2,127
)
Coal purchases
(2) 
(1,231
)
 
1,348

 
942

 
 
$
9,018

 
$
(6,169
)
 
$
(1,185
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gains (Losses) Reclassified from Other Comprehensive Income into Income
(Effective Portion)
 
 
Year Ended December 31, 2019
 
Year Ended December 31, 2018
 
Year Ended December 31, 2017
Coal sales
 
$
10,167

 
$
(10,912
)
 
$
—

Coal purchases
 
(686
)
 
2,707

 
—

 
 
$
9,481

 
$
(8,205
)
 
$
—

 
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 respective periods. 


Derivatives Not Designated as Hedging Instruments (in thousands)
For the noted periods,
 
 
Gain (Loss) Recognized
 
 
Year Ended December 31, 2019
 
Year Ended December 31, 2018
 
Year Ended December 31, 2017
Coal trading— realized and unrealized
(3) 
$
(1,013
)
 
$
135

 
$
(2,047
)
Coal risk management— unrealized
(3) 
19,713

 
(9,530
)
 
(4,648
)
Natural gas trading — realized and unrealized
(3) 
(99
)
 
277

 
(527
)
Change in fair value of coal derivatives and coal trading activities, net total
 
$
18,601

 
$
(9,118
)
 
$
(7,222
)
 
 
 
 
 
 
 
Coal risk management — realized
(4) 
$
487

 
$
(8,734
)
 
$
—

Heating oil — diesel purchases
(4) 
$
(2,291
)
 
$
(505
)
 
$
(1,057
)


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