Other Short-Term and Long-Term Obligations (Tables)

3 Months Ended

Mar. 31, 2013

Other Short-Term and Long-Term Obligations

Schedule of federal coal lease obligations

Federal coal lease obligations consisted of (in thousands):

	March 31,		December 31,
	2013		2012
Federal coal lease obligations, current	$	63,191	$	63,191
Federal coal lease obligations, noncurrent	122,928		122,928
Total federal coal lease obligations	$	186,119	$	186,119

Schedule of payments for federal coal lease obligations

We have federal coal lease payments, as follows (dollars in thousands):

					March 31, 2013				December 31, 2012
	Annual		Imputed		Carrying		Fair		Carrying		Fair
Payment Dates	Payment		Interest Rate		Value		Value(1)		Value		Value(1)
May 1, 2009 — 2013	$	9,620	8.70	%	$	8,852	$	9,602	$	8,852	$	9,532
July 1, 2011 — 2015	$	59,545	8.50	%	152,078		173,407		152,078		171,075
September 1, 2011 — 2015	$	9,862	8.50	%	25,189		28,437		25,189		28,196
					$	186,119	$	211,446	$	186,119	$	208,803

(1) The fair value of estimates for federal coal lease obligations were determined by discounting the remaining lease payments using the then current estimate of the credit-adjusted, risk-free rate based on our then current credit rating, which are considered Level 2 in the fair value hierarchy.

Schedule of future payments on federal coal leases

Future payments on federal coal leases are as follows (in thousands):

Year Ended December 31,
2013	$	79,027
2014	69,407
2015	69,407
Total	217,841
Less: imputed interest	31,722
Total principal payments	186,119
Less: current portion	63,191
Long-term federal coal leases payable	$	122,928