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Consolidated Balance Sheets (Unaudited) (USD $)
In Thousands
Jun. 30, 2011
Dec. 31, 2010
Current assets:    
Cash and cash equivalents $ 41,738 $ 5,775
Receivables:    
Trade 39,884 50,578
Contractual third-party reclamation receivables 7,533 7,743
Other 3,080 4,545
Total Receivables 50,497 62,866
Inventories 25,777 23,571
Restricted investments and bond collateral 5,000 0
Other current assets 5,159 5,335
Total current assets 128,171 97,547
Property, plant and equipment:    
Land and mineral rights 83,999 83,824
Capitalized asset retirement cost 114,856 114,856
Plant and equipment 517,094 506,661
Property plant and equipment 715,949 705,341
Less accumulated depreciation, depletion and amortization (309,383) (288,386)
Net property, plant and equipment 406,566 416,955
Advanced coal royalties 3,270 3,695
Reclamation deposits 71,997 72,274
Restricted investments and bond collateral, less current portion 53,155 55,384
Contractual third-party reclamation receivables, less current portion 88,720 87,739
Deferred income taxes 2,984 2,458
Intangible assets, net of accumulated amortization of $9.9 million and $9.1 million at June 30, 2011, and December 31, 2010, respectively 5,718 6,555
Other assets 11,788 7,699
Total Assets 772,369 750,306
Current liabilities:    
Current installments of long-term debt 18,814 14,973
Accounts payable and accrued expenses:    
Trade 38,612 46,247
Production taxes 24,247 26,317
Workers' compensation 949 954
Postretirement medical benefits 13,581 13,581
SERP 304 304
Deferred revenue 11,321 10,209
Asset retirement obligations 15,956 14,514
Other current liabilities 13,028 6,241
Total current liabilities 136,812 133,340
Long-term debt, less current installments 271,855 208,731
Revolving lines of credit 0 18,400
Workers' compensation, less current portion 9,324 9,424
Excess of pneumoconiosis benefit obligation over trust assets 3,008 2,246
Postretirement medical benefits, less current portion 196,462 197,279
Pension and SERP obligations, less current portion 18,542 20,462
Deferred revenue, less current portion 70,644 75,395
Asset retirement obligations, less current portion 227,568 227,129
Intangible liabilities, net of accumulated amortization $9.9 million at June 30, 2011, and $9.4 million at December 31, 2010, respectively 8,154 8,663
Other liabilities 10,207 11,592
Total liabilities 952,576 912,661
Shareholders' deficit:    
Preferred stock of $1.00 par value; Authorized 5,000,000 shares; Issued and outstanding 159,960 shares at June 30, 2011, and 160,129 shares at December 31, 2010, respectively 160 160
Common stock of $2.50 par value; Authorized 30,000,000 shares; Issued and outstanding 13,237,483 shares at June 30, 2011, and 11,160,798 shares at December 31, 2010 33,093 27,901
Other paid-in capital 122,422 98,466
Accumulated other comprehensive loss (57,412) (57,680)
Accumulated deficit (272,378) (226,740)
Total Westmoreland Coal Company shareholders' deficit (174,115) (157,893)
Noncontrolling interest (6,092) (4,462)
Total deficit (180,207) (162,355)
Total Liabilities and Shareholders' Deficit $ 772,369 $ 750,306