XML 79 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Current assets:    
Cash and cash equivalents $ 61,110 $ 31,610
Receivables:    
Trade 66,196 60,037
Contractual third-party reclamation receivables 8,487 10,207
Other 5,086 3,220
Total receivables 79,769 73,464
Inventories 39,972 37,734
Restricted investments and bond collateral 5,998 0
Other current assets 18,190 16,504
Total current assets 205,039 159,312
Property, plant and equipment:    
Land and mineral rights 278,188 261,741
Plant and equipment 657,696 635,720
Gross property, plant and equipment 935,884 897,461
Less accumulated depreciation, depletion and amortization 445,848 384,621
Net property, plant and equipment 490,036 512,840
Advanced coal royalties 7,311 4,316
Reclamation deposits 74,921 72,718
Restricted investments and bond collateral 69,235 87,209
Contractual third-party reclamation receivables, less current portion 88,303 84,158
Intangible assets, net of accumulated amortization of $14.1 million and $12.4 million at December 31, 2013 and December 31, 2012, respectively 1,520 3,203
Other assets 10,320 12,359
Total Assets 946,685 936,115
Current liabilities:    
Current installments of long-term debt 44,343 23,791
Accounts payable and accrued expenses:    
Trade 57,507 52,093
Production taxes 41,905 33,228
Workers' compensation 717 820
Postretirement medical benefits 13,955 14,068
SERP 390 390
Deferred revenue 14,068 12,822
Asset retirement obligations 23,353 22,238
Other current liabilities 16,790 11,462
Total current liabilities 213,028 170,912
Long-term debt, less current installments 295,494 337,198
Workers' compensation, less current portion 6,744 8,710
Excess of black lung benefit obligation over trust assets 8,675 8,356
Postretirement medical benefits, less current portion 270,374 319,775
Pension and SERP obligations, less current portion 24,176 54,250
Deferred revenue, less current portion 46,567 56,891
Asset retirement obligations, less current portion 256,511 241,609
Intangible liabilities, net of accumulated amortization of $12.4 million at December 31, 2013 and $11.4 million at December 31, 2012, respectively 5,606 6,625
Other liabilities 7,389 18,020
Total liabilities 1,134,564 1,222,346
Shareholders' deficit:    
Preferred stock of $1.00 par value Authorized 5,000,000 shares; Issued and outstanding 159,960 shares at December 31, 2013 and 2012 160 160
Common stock of $2.50 par value Authorized 30,000,000 shares; Issued and outstanding 14,592,231 shares at December 31, 2013, and 14,201,411 shares at December 31, 2012, respectively 36,479 35,502
Other paid-in capital 134,861 130,852
Accumulated other comprehensive loss (63,595) (148,345)
Accumulated deficit (295,784) (289,727)
Total Westmoreland Coal Company shareholders' deficit (187,879) (271,558)
Noncontrolling interest 0 (14,673)
Total deficit (187,879) (286,231)
Total Liabilities and Shareholders' Deficit $ 946,685 $ 936,115