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Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2012

Fair Value Measurements [Abstract]

Measurement of assets and liabilities at fair value on a recurring basis

The assets and liabilities measured at fair value on a recurring basis were as follows:


		Level 1				Level 2				Level 3				Total
As of September 30, 2012:
Derivative liability for commodity hedges		$	—			$	2,139			$	—			$	2,139
Derivative liability for conversion feature associated with convertible debt		$	—			$	—			$	—			$	—

As of December 31, 2011:
Derivative liability for commodity hedges		$	—			$	2,331			$	—			$	2,331
Derivative liability for conversion feature associated with convertible debt		$	—			$	—			$	26,440			$	26,440

Reconciliation of the change in fair value of Level 3 liabilities

The following reconciliation represents the change in fair value of Level 3 liabilities from January 1, 2012 to September 30, 2012:


		Derivative liability for conversion feature associated with convertible debt
Fair value as of January 1		$	26,440
Mark-to-Market adjustment on conversion feature			15,597
Reclassification from long-term debt, less current portion to additional paid-in capital			(42,037	)

Fair value as of September 30		$	—

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

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