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Derivative Financial Instruments (Tables)
 9 Months Ended
Sep. 30, 2013
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of derivative assets at fair value
The following tables present the fair values and location of the Company’s derivative instruments within the Condensed Consolidated Balance Sheets:
 
 
 
Asset Derivatives
Derivatives designated as
cash flow hedging instruments
Statement of Financial Position Location
 
September 30,
2013
 
December 31,
2012
Commodity swaps
Prepaid expenses and other current assets
 
$
—

 
$
6,484

Commodity swaps
Other non-current assets
 
—

 
4,718

Commodity options
Prepaid expenses and other current assets
 
—

 
138

 
 
 
$
—

 
$
11,340

 
 
 
 
 
 
Derivatives not designated as
cash flow hedging instruments
Statement of Financial Position Location
 
September 30,
2013
 
December 31,
2012
Commodity swaps
Prepaid expenses and other current assets
 
$
6,718

 
$
—

Commodity swaps
Other non-current assets
 
1,714

 
—

Forward coal sales
Prepaid expenses and other current assets
 
8,876

 
15,359

Forward coal sales
Other non-current assets
 
128

 
—


 
 
$
17,436

 
$
15,359

 
 
 
 
 
 
Total asset derivatives
 
 
$
17,436

 
$
26,699
Schedule of derivative liabilities at fair value
 
 
 
Liability Derivatives
Derivatives designated as
cash flow hedging instruments
Statement of Financial Position Location
 
September 30,
2013
 
December 31,
2012
Commodity swaps
Accrued expenses and other current liabilities
 
$
—

 
$
2,457

Commodity swaps
Other non-current liabilities
 
—

 
972

 
 
 
$
—

 
$
3,429

 
 
 
 
 
 
Derivatives not designated as
cash flow hedging instruments
Statement of Financial Position Location
 
September 30,
2013
 
December 31,
2012
Commodity swaps
Other non-current liabilities
 
$
770

 
$
—

Forward coal purchases
Accrued expenses and other current liabilities
 
—

 
4

Commodity swaps
Accrued expenses and other current liabilities
 
1,544

 
693


 
 
$
2,314

 
$
697

 
 
 
 
 
 
Total liability derivatives
 
 
$
2,314

 
$
4,126
Gains and losses on derivatives designated as cash flow hedging instruments
The following tables present the gains and losses from derivative instruments for the nine months ended September 30, 2013 and 2012 and their location within the Condensed Consolidated Financial Statements:

Derivatives designated as
cash flow hedging instruments
 
Gain (loss) reclassified
from accumulated other
comprehensive income (loss) to earnings
 
Gain (loss) recorded
in accumulated other
comprehensive income (loss)
 
2013
 
2012
 
2013
 
2012
Commodity swaps(1) (2) (3)
 
$
3,094

 
$
9,190

 
$
(909
)
 
$
14,715

Commodity options(1) (2)
 
(68
)
 
—

 
(63
)
 
(39
)
 
 
$
3,026

 
$
9,190

 
$
(972
)
 
$
14,676

(1) 
Amounts are recorded as a component of cost of coal sales in the Condensed Consolidated Statements of Operations.
(2) 
Net of tax.
(3) 
Ineffectiveness during the period was immaterial.
Gains and losses on derivatives not designated as cash flow hedging instruments
Derivatives not designated as
cash flow hedging instruments
 
Gain (loss) recorded in earnings
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2013
 
2012
 
2013
 
2012
Forward coal sales(1)
 
$
(5,149
)
 
$
(48,131
)
 
$
(6,354
)
 
$
5,424

Forward coal purchases(1)
 
(4
)
 
16,723

 
4

 
7,391

Commodity swaps(2)
 
5,340

 
625

 
5,038

 
377

Interest rate swap(3)
 
—

 
(42
)
 
—

 
(372
)
 
 
$
187

 
$
(30,825
)
 
$
(1,312
)
 
$
12,820

(1) 
Amounts are recorded as a component of other revenues in the Condensed Consolidated Statements of Operations.
(2) 
Amounts are recorded as a component of other expenses in the Condensed Consolidated Statements of Operations.
(3) 
Amounts are recorded as a component of interest expense in the Condensed Consolidated Statements of Operations.