DEBT (Tables)

12 Months Ended

Dec. 31, 2016

DEBT [Abstract]

Debt

	Effective
in thousands	Interest Rates	2016	2015
Short-term Debt
Bank line of credit expires 2021 1, 2, 3	n/a	$                  0	$                  0
Total short-term debt		$                  0	$                  0
Long-term Debt
Bank line of credit expires 20211, 2, 3	1.25%	$       235,000	$       235,000
7.00% notes due 2018	7.87%	272,512	272,512
10.375% notes due 2018	10.63%	250,000	250,000
7.50% notes due 2021	7.75%	600,000	600,000
8.85% notes due 2021	8.88%	6,000	6,000
Delayed draw term loan 2, 3	1.25%	0	0
4.50% notes due 2025	4.65%	400,000	400,000
7.15% notes due 2037	8.05%	240,188	240,188
Other notes 3	6.31%	365	498
Total long-term debt - face value		$    2,004,065	$    2,004,198
Unamortized discounts and debt issuance costs		(21,176)	(23,734)
Total long-term debt - book value		$    1,982,889	$    1,980,464
Less current maturities		138	130
Total long-term debt - reported value		$    1,982,751	$    1,980,334
Estimated fair value of long-term debt		$    2,243,213	$    2,204,816

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.

Schedule of Principal and Interest Debt Payments

in thousands	Total	Principal	Interest
Debt Payments (excluding the line of credit)
2017	$      125,878	$           138	$    125,740
2018	638,725	522,531	116,194
2019	80,740	23	80,717
2020	80,741	25	80,716
2021	664,174	606,026	58,148

Standby Letters of Credit

in thousands
Standby Letters of Credit
Risk management insurance	$       34,111
Reclamation/restoration requirements	5,427
Total	$       39,538