Derivatives (Tables)

6 Months Ended

Jun. 30, 2013

Risk management derivatives

Schedule of offsetting and balance sheet presentation

	June 30, 2013
	Gross Amounts of Recognized					Gross Amounts Offset in the Consolidated Balance Sheet					Net Amounts Presented in the Consolidated Balance Sheet
	Assets		Liabilities			Assets			Liabilities		Assets		Liabilities
International coal forward contracts	$	38,677	$	(1,492	)	$	(1,492	)	$	1,492	$	37,185	$	—
WTI collars	73		(67		)	(7		)	7		66		(60		)
Total	$	38,750	$	(1,558	)	$	(1,498	)	$	1,498	$	37,252	$	(60	)

	December 31, 2012
	Gross Amounts of Recognized					Gross Amounts Offset in the Consolidated Balance Sheet					Net Amounts Presented in the Consolidated Balance Sheet
	Assets		Liabilities			Assets			Liabilities		Assets		Liabilities
International coal forward contracts	$	13,677	$	(30	)	$	(30	)	$	30	$	13,647	$	—
WTI collars	138		—			—			—		138		—
Total	$	13,815	$	(30	)	$	(30	)	$	30	$	13,785	$	—

Schedule of derivative mark-to-market (gains) and losses recognized in the consolidated statement of operations and comprehensive income

Derivative mark-to-market (gains) and losses recognized in the consolidated statement of operations and comprehensive income were (in thousands):

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2013			2012			2013			2012
International coal forward contracts	$	(12,402	)	$	(20,119	)	$	(26,184	)	$	(18,063	)
Domestic coal futures contracts	93			—			117			—
WTI collars	25			(64		)	132			(64		)
Total	$	(12,284	)	$	(20,183	)	$	(25,936	)	$	(18,127	)

Coal Contracts

Risk management derivatives

Schedule of derivative financial instruments

At June 30, 2013, we held coal derivative positions that are expected to settle in the following years (in thousands):

	2013		2014		2015		2016		Total
International Coal Forward Contracts
Notional amount (tons)	558		1,190		344		132		2,224
Net asset position	$	10,981	$	17,350	$	6,583	$	2,272	$	37,185
Domestic Coal Futures Contracts
Notional amount (tons)	—		1,080		180		—		1,260

WTI Collars

Risk management derivatives

Schedule of derivative financial instruments

At June 30, 2013, we held the following WTI collars (in thousands except per barrel amounts):

Settlement	Notional	Weighted-Average per Barrel
Period	Amount	Floor		Ceiling
	(barrels)
2013	264	$	71.97	$	112.01
2014	288	70.34		111.26
Total	552	$	71.12	$	111.62