DEBT (Tables)

9 Months Ended

Sep. 30, 2015

DEBT [Abstract]

Summary of Debt

	Effective	September 30	December 31	September 30
in thousands	Interest Rates	2015	2014	2014
Short-term Debt
Bank line of credit expires 2020 1, 2	n/a	$                  0	$                0	$                0
Total short-term debt		$                  0	$                0	$                0
Long-term Debt
Bank line of credit expires 2020 1, 2, 3	1.75%	$         85,000	$                0	$                0
10.125% notes due 20154	9.58%	150,000	150,000	150,000
6.50% notes due 2016	n/a	0	125,001	125,001
6.40% notes due 2017	n/a	0	218,633	218,633
7.00% notes due 2018	7.87%	272,512	400,000	400,000
10.375% notes due 2018	10.63%	250,000	250,000	250,000
7.50% notes due 2021	7.75%	600,000	600,000	600,000
8.85% notes due 2021	8.88%	6,000	6,000	6,000
Industrial revenue bond due 2022	n/a	0	14,000	14,000
4.50% notes due 2025	4.65%	400,000	0	0
7.15% notes due 2037	8.05%	240,188	240,188	240,188
Other notes 2	6.25%	503	637	753
Unamortized discounts and debt issuance costs	n/a	(24,821)	(22,716)	(23,893)
Unamortized deferred interest rate swap gain 5	n/a	241	3,036	3,538
Total long-term debt including current maturities 6		$    1,979,623	$  1,984,779	$  1,984,220
Less current maturities		130	150,137	145
Total long-term debt		$    1,979,493	$  1,834,642	$  1,984,075
Total debt 7		$    1,979,623	$  1,984,779	$  1,984,220
Estimated fair value of long-term debt		$    2,191,361	$  2,092,673	$  2,237,325

1	Borrowings on the bank line of credit are classified as short-term debt if we intend to repay within twelve months and as long-term debt otherwise.
2	Non-publicly traded debt.
3	The effective interest rate is the current credit spread over LIBOR.
4	The 10.125% notes due 2015 are classified as long-term debt (not current maturities) as of September 30, 2015 due to our intent and ability to refinance these notes at maturity (December 15, 2015) using our line of credit.
5	The unamortized deferred gain was realized upon the August 2011 settlement of interest rate swaps as discussed in Note 6.
6	The debt balances as of December 31, 2014 and September 30, 2014 have been adjusted to reflect our early adoption of ASU 2015-03 and related election as discussed in Note 17.
7	Face value of our debt is equal to total debt less unamortized discounts and debt issuance costs, and unamortized deferred interest rate swap gain, as follows: September 30, 2015 — $2,004,203 thousand, December 31, 2014 — $2,004,459 thousand and September 30, 2014 — $2,004,575 thousand.

Summary of Standby Letters of Credit

in thousands
Standby Letters of Credit
Risk management insurance	$       33,111
Reclamation/restoration requirements	5,753
Total	$       38,864