DEBT (Tables)

6 Months Ended

Jun. 30, 2017

DEBT [Abstract]

Debt

	Effective	June 30	December 31	June 30
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 20211, 2, 3	n/a	$                  0	$     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
Floating-rate notes due 2020	2.05%	250,000	0	0
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
Term loan due 20212, 3	2.41%	250,000	0	0
4.50% notes due 2025	4.65%	400,000	400,000	400,000
3.90% notes due 2027	4.00%	400,000	0	0
7.15% notes due 2037	8.05%	240,188	240,188	240,188
4.50% notes due 2047	4.59%	700,000	0	0
Other notes 3	6.31%	358	365	489
Total long-term debt - face value		$    3,369,058	$  2,004,065	$  2,004,189
Unamortized discounts and debt issuance costs		(33,989)	(21,176)	(21,531)
Total long-term debt - book value		$    3,335,069	$  1,982,889	$  1,982,658
Less current maturities 4		525,776	138	131
Total long-term debt - reported value		$    2,809,293	$  1,982,751	$  1,982,527
Estimated fair value of long-term debt		$    3,077,069	$  2,243,213	$  2,272,149

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	Current maturities as of June 30, 2017 includes $522.5 million of notes due in 2018 which were early retired in July 2017 as discussed below within the Term Debt caption.

Standby Letters of Credit

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