XML 14 R2.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2018
Dec. 31, 2017
Jun. 30, 2017
Current assets:      
Cash and cash equivalents $ 63,187 $ 103,247 $ 57,620
Receivables:      
Trade 78,504 89,311  
Other 13,741 17,697  
Total receivables 92,245 107,008  
Inventories 137,240 106,795  
Unbilled revenues 57,560 63,874  
Other current assets 26,539 11,517  
Total current assets 376,771 392,441  
Property, plant and equipment:      
Gross property, plant and equipment 1,239,701 1,665,740  
Less accumulated depreciation, depletion and amortization (657,109) (923,905)  
Net property, plant and equipment 582,592 741,835  
Advanced coal royalties 12,930 21,404  
Restricted investments, reclamation deposits and bond collateral 205,812 200,194  
Unbilled revenues, less current portion 218,892 225,245  
Investment in joint venture 24,716 27,763  
Other assets 35,882 55,036  
Total Assets 1,457,595 1,663,918 $ 1,670,219
Current liabilities:      
Current installments of long-term debt 1,071,533 983,427  
Accounts payable and accrued expenses:      
Trade and other accrued liabilities 106,125 121,489  
Interest payable 26,042 22,840  
Production taxes 40,915 41,688  
Postretirement medical benefits 14,734 14,734  
Deferred revenue 6,120 3,201  
Asset retirement obligations 50,110 48,429  
Other current liabilities 8,164 9,401  
Total current liabilities 1,323,743 1,245,209  
Long-term debt, less current installments 15,416 64,980  
Postretirement medical benefits, less current portion 319,583 317,407  
Pension and SERP obligations, less current portion 42,827 43,585  
Asset retirement obligations, less current portion 412,613 426,038  
Other liabilities 29,598 31,477  
Total liabilities 2,143,780 2,128,696  
Shareholders' deficit:      
Common stock of $0.01 par value: Authorized 30,000,000 shares; Issued and outstanding 18,788,532 shares at June 30, 2018 and 18,771,643 shares at December 31, 2017 188 188  
Other paid-in capital 252,354 250,494  
Accumulated other comprehensive loss (170,289) (158,699)  
Accumulated deficit (757,949) (552,263)  
Total Westmoreland Coal Company shareholders’ deficit (675,696) (460,280)  
Noncontrolling interests in consolidated subsidiaries (10,489) (4,498)  
Total deficit (686,185) (464,778)  
Total Liabilities and Shareholders' Deficit $ 1,457,595 $ 1,663,918