DEBT (Tables)

3 Months Ended

Mar. 31, 2017

DEBT [Abstract]

Debt

	Effective	March 31	December 31	March 31
in thousands	Interest Rates	2017	2016	2016
Short-term Debt
Bank line of credit expires 20211, 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	$     235,000
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
Delayed draw term loan 2, 3	1.25%	0	0	0
4.50% notes due 2025	4.65%	400,000	400,000	400,000
3.90% notes due 2027	4.06%	350,000	0	0
7.15% notes due 2037	8.05%	240,188	240,188	240,188
Other notes 3	6.31%	364	365	494
Total long-term debt - face value		$    2,354,064	$  2,004,065	$  2,004,194
Unamortized discounts and debt issuance costs		(24,677)	(21,176)	(22,638)
Total long-term debt - book value		$    2,329,387	$  1,982,889	$  1,981,556
Less current maturities		139	138	131
Total long-term debt - reported value		$    2,329,248	$  1,982,751	$  1,981,425
Estimated fair value of long-term debt		$    2,605,379	$  2,243,213	$  2,236,669

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 if we have the intent and ability to extend payment beyond twelve months.
2	The effective interest rate is the spread over LIBOR as of the most recent balance sheet date.
3	Non-publicly traded debt.

Standby Letters of Credit

in thousands
Standby Letters of Credit
Risk management insurance	$       38,111
Reclamation/restoration requirements	5,427
Total	$       43,538