Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2012

Summary Of Assets And Liabilities Accounted At Fair Value On A Recurring Basis

The following tables summarize, by level within the fair value hierarchy, the Company’s assets and liabilities that were accounted for at fair value on a recurring basis:



	September 30, 2012
	Level 1		Level 2			Total
Derivative instruments
Risk management assets - Commodity forward contracts	$	1,213	$	8,630		$	9,843
Risk management liabilities - Commodity forward contracts	—		(2,892		)	(2,892		)
Firm commitments
Hedged portion of firm commitment	—		1,019			1,019
Hedged portion of firm commitment	—		(8,630		)	(8,630		)

	December 31, 2011
	Level 1		Level 2			Total
Derivative instruments
Risk management assets - Commodity forward contracts	$	1,090	$	1,347		$	2,437
Risk management liabilities - Commodity forward contracts	—		(4,235		)	(4,235		)
Firm commitments
Hedged portion of firm commitment	—		3,262			3,262
Marketable securities
Available-for-sale equity securities	30,113		—			30,113

Summary Of Carrying And Fair Values Of Long-Term Debt

The carrying and fair values of the Company’s long-term debt are summarized in the table below. The Company’s long-term debt instruments are publicly-traded. A market approach, based upon quotes from financial reporting services, is used to measure the fair value of the Company’s long-term debt. Because the Company’s long-term debt instruments may not be actively traded, the inputs used to measure the fair value of the Company’s long-term debt are classified as Level 2 inputs within the fair value hierarchy.



	September 30, 2012				December 31, 2011
	Carrying Value		Fair Value		Carrying Value		Fair Value
6⁵/8% senior notes due 2016	$	—	$	—	$	249,674	$	254,890
3.60% senior notes due 2022	248,842		253,738		—		—
6¹/2% senior notes due 2029	100,000		115,619		100,000		108,834
6³/4% senior notes due 2032	250,000		288,515		250,000		263,988
6¹/2% GO Zone Senior Notes Due 2035	89,000		103,031		89,000		93,090
6¹/2% IKE Zone Senior Notes Due 2035	65,000		75,247		65,000		67,987
Loan related to tax-exempt waste disposal revenue bonds due 2027	10,889		10,889		10,889		10,889

- Definition

Tabular disclosure of the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such certain disclosures about the financial instruments, assets, and liabilities include: (1) the fair value of the required items together with their carrying amounts (as appropriate) and (2) the methodology and assumptions used in developing such estimates of fair value.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

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+ Details