DEBT (Tables)

9 Months Ended

Sep. 30, 2016

DEBT [Abstract]

Debt

	Effective	September 30	December 31	September 30
in thousands	Interest Rates	2016	2015	2015
Short-term Debt
Bank line of credit expires 2020 1, 2, 3	n/a	$                  0	$                0	$                0
Total short-term debt		$                  0	$                0	$                0
Long-term Debt
Bank line of credit expires 20201, 2, 3	1.25%	$       235,000	$     235,000	$       85,000
10.125% notes due 2015	n/a	0	0	150,000
7.00% notes due 2018	7.87%	272,512	272,512	272,512
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
4.50% notes due 2025	4.65%	400,000	400,000	400,000
7.15% notes due 2037	8.05%	240,188	240,188	240,188
Other notes 3	6.24%	484	498	503
Total long-term debt - face value		$    2,004,184	$  2,004,198	$  2,004,203
Unamortized discounts and debt issuance costs		(20,414)	(23,734)	(24,821)
Unamortized deferred interest rate swap gain 4		0	0	241
Total long-term debt - book value		$    1,983,770	$  1,980,464	$  1,979,623
Less current maturities		131	130	130
Total long-term debt - reported value		$    1,983,639	$  1,980,334	$  1,979,493
Estimated fair value of long-term debt		$    2,305,065	$  2,204,816	$  2,191,361

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	The effective interest rate is the spread over LIBOR as of the most recent balance sheet date.
3	Non-publicly traded debt.
4	The unamortized deferred gain was realized upon the August 2011 settlement of interest rate swaps as described in Note 6.

Standby Letters of Credit

in thousands
Standby Letters of Credit
Risk management insurance	$       34,111
Reclamation/restoration requirements	5,729
Total	$       39,840