Document_And_Entity_Informatio
Document And Entity Information | 3 Months Ended | |
Mar. 31, 2015 | Apr. 20, 2015 | |
Document and Entity Information [Abstract] | ||
Entity Registrant Name | ARCH COAL INC | |
Entity Central Index Key | 1037676 | |
Document Type | 10-Q | |
Document Period End Date | 31-Mar-15 | |
Amendment Flag | FALSE | |
Current Fiscal Year End Date | -19 | |
Document Fiscal Year Focus | 2015 | |
Document Fiscal Period Focus | Q1 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Common Stock, Shares Outstanding | 212,662,307 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Operations (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Income Statement [Abstract] | ||
Revenues | $677,005 | $735,971 |
Costs, expenses and other operating | ||
Cost of sales (exclusive of items shown separately below) | 562,322 | 686,314 |
Depreciation, depletion and amortization | 104,874 | 104,423 |
Amortization of acquired sales contracts, net | -3,390 | -3,696 |
Change in fair value of coal derivatives and coal trading activities, net | 1,220 | 914 |
Selling, general and administrative expenses | 22,605 | 29,136 |
Other operating (income) expense, net | 9,086 | -7,998 |
Total operating expenses | 696,717 | 809,093 |
Loss from operations | -19,712 | -73,122 |
Interest expense, net | ||
Interest expense | -99,252 | -96,471 |
Interest and investment income | 2,373 | 1,843 |
Interest expense, net | -96,879 | -94,628 |
Loss from continuing operations before income taxes | -116,591 | -167,750 |
Benefit from income taxes | -3,396 | -43,611 |
Net loss | ($113,195) | ($124,139) |
Losses per common share | ||
Basic and diluted LPS - Net loss (usd per share) | ($0.53) | ($0.59) |
Basic and diluted weighted average shares outstanding (shares) | 212,660 | 212,171 |
Dividends declared per common share (usd per share) | $0 | $0.01 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Comprehensive Income (Loss) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract] | ||
Net loss | ($113,195) | ($124,139) |
Derivative instruments | ||
Comprehensive income (loss) before tax | 5,045 | -229 |
Income tax benefit (provision) | -1,817 | 82 |
Derivatives Qualifying as Hedges, Adjustment, Net of Tax | 3,228 | -147 |
Pension, postretirement and other post-employment benefits | ||
Comprehensive income (loss) before tax | 294 | -1,847 |
Income tax benefit (provision) | -105 | 665 |
Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax | 189 | -1,182 |
Available-for-sale securities | ||
Comprehensive income (loss) before tax | 291 | -2,033 |
Income tax benefit (provision) | -104 | 732 |
Available-for-sale Securities Adjustment, Net of Tax | 187 | -1,301 |
Total other comprehensive income (loss) | 3,604 | -2,630 |
Total comprehensive loss | ($109,591) | ($126,769) |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Current assets | ||
Cash and cash equivalents | $689,972 | $734,231 |
Short term investments | 249,518 | 248,954 |
Trade accounts receivable | 198,314 | 211,506 |
Other receivables | 15,435 | 20,511 |
Inventories | 240,113 | 190,253 |
Prepaid royalties | 12,841 | 11,118 |
Deferred income taxes | 50,414 | 52,728 |
Coal derivative assets | 14,777 | 13,257 |
Other current assets | 59,605 | 60,193 |
Total current assets | 1,530,989 | 1,542,751 |
Property, plant and equipment, net | 6,371,335 | 6,453,458 |
Other assets | ||
Prepaid royalties | 63,622 | 66,806 |
Equity investments | 225,030 | 235,842 |
Other noncurrent assets | 123,964 | 130,866 |
Total other assets | 412,616 | 433,514 |
Total assets | 8,314,940 | 8,429,723 |
Current liabilities | ||
Accounts payable | 167,480 | 180,113 |
Accrued expenses and other current liabilities | 321,503 | 302,396 |
Current maturities of debt | 34,368 | 36,885 |
Total current liabilities | 523,351 | 519,394 |
Long-term debt | 5,117,982 | 5,123,485 |
Asset retirement obligations | 404,844 | 398,896 |
Accrued pension benefits | 14,436 | 16,260 |
Accrued postretirement benefits other than pension | 34,453 | 32,668 |
Accrued workers’ compensation | 98,683 | 94,291 |
Deferred income taxes | 419,064 | 422,809 |
Other noncurrent liabilities | 141,804 | 153,766 |
Total liabilities | 6,754,617 | 6,761,569 |
Stockholders' equity | ||
Common stock, $0.01 par value, authorized 260,000 shares, issued 214,179 shares and 213,791 shares at March 31, 2015 and December 31, 2014, respectively | 2,145 | 2,141 |
Paid-in capital | 3,050,216 | 3,048,460 |
Treasury stock, at cost, 1,517 shares at March 31, 2015 and December 31, 2014 | -53,863 | -53,863 |
Accumulated deficit | -1,445,020 | -1,331,825 |
Accumulated other comprehensive income | 6,845 | 3,241 |
Total stockholders’ equity | 1,560,323 | 1,668,154 |
Total liabilities and stockholders’ equity | $8,314,940 | $8,429,723 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Parenthetical) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
Statement of Financial Position [Abstract] | ||
Common stock, par value | $0.01 | $0.01 |
Common stock, shares authorized | 260,000,000 | 260,000,000 |
Common stock, shares issued | 214,179,000 | 213,791,000 |
Treasury Stock, Shares | 1,517,000 | 1,517,000 |
Condensed_Consolidated_Stateme2
Condensed Consolidated Statements of Cash Flows (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Operating activties | ||
Net loss | ($113,195) | ($124,139) |
Adjustments to reconcile net loss to cash used in operating activities: | ||
Depreciation, depletion and amortization | 104,874 | 104,423 |
Amortization of acquired sales contracts, net | -3,390 | -3,696 |
Amortization relating to financing activities | 6,219 | 3,236 |
Prepaid royalties expensed | 1,674 | 1,803 |
Employee stock-based compensation expense | 1,760 | 2,333 |
Gains on disposals and divestitures, net | -46 | -15,129 |
Deferred income taxes | -3,433 | -43,698 |
Changes in: | ||
Receivables | 18,252 | -27,245 |
Inventories | -49,860 | 7,441 |
Accounts payable, accrued expenses and other current liabilities | 7,186 | 43,989 |
Income taxes, net | 40 | -115 |
Other | 25,646 | 10,522 |
Cash used in operating activities | -4,273 | -40,275 |
Investing activities | ||
Capital expenditures | -22,880 | -14,454 |
Additions to prepaid royalties | -213 | -591 |
Proceeds from disposals and divestitures | 46 | 28,195 |
Purchases of marketable securities | -101,793 | -119,176 |
Proceeds from sale or maturity of marketable securities and other investments | 99,914 | 117,681 |
Investments in and advances to affiliates | -1,843 | -3,242 |
Cash provided by (used in) investing activities | -26,769 | 8,413 |
Financing activities | ||
Payments on term loan | -4,875 | -4,875 |
Net payments on other debt | -4,810 | -4,521 |
Dividends paid | 0 | -2,123 |
Debt financing costs | -1,957 | |
Withdrawals (deposits) of restricted cash | -3,532 | 0 |
Cash used in financing activities | -13,217 | -13,476 |
Increase (decrease) in cash and cash equivalents | -44,259 | -45,338 |
Cash and cash equivalents, beginning of period | 734,231 | 911,099 |
Cash and cash equivalents, end of period | $689,972 | $865,761 |
Basis_of_Presentation
Basis of Presentation | 3 Months Ended |
Mar. 31, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation | Basis of Presentation |
The accompanying unaudited condensed consolidated financial statements include the accounts of Arch Coal, Inc. and its subsidiaries (the “Company”). The Company’s primary business is the production of thermal and metallurgical coal from surface and underground mines located throughout the United States, for sale to utility, industrial and steel producers both in the United States and around the world. The Company currently operates mining complexes in West Virginia, Maryland, Virginia, Illinois, Wyoming and Colorado. All subsidiaries are wholly-owned. Intercompany transactions and accounts have been eliminated in consolidation. | |
The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial reporting and U.S. Securities and Exchange Commission regulations. In the opinion of management, all adjustments, consisting of normal, recurring accruals considered necessary for a fair presentation, have been included. Results of operations for the three months ended March 31, 2015 are not necessarily indicative of results to be expected for the year ending December 31, 2015. These financial statements should be read in conjunction with the audited financial statements and related notes as of and for the year ended December 31, 2014 included in the Company’s Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission. |
Accounting_Policies
Accounting Policies | 3 Months Ended |
Mar. 31, 2015 | |
Accounting Policies [Abstract] | |
Accounting Policies | Accounting Policies |
There is no new accounting guidance that is expected to have a significant impact on the Company's financial statements. |
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Income | 3 Months Ended | |||||||||||||||
Mar. 31, 2015 | ||||||||||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||||||||||||||||
Accumulated Other Comprehensive Income | Accumulated Other Comprehensive Income | |||||||||||||||
The following items are included in accumulated other comprehensive income ("AOCI"): | ||||||||||||||||
Pension, | ||||||||||||||||
Postretirement | ||||||||||||||||
and Other | Accumulated | |||||||||||||||
Post- | Other | |||||||||||||||
Derivative | Employment | Available-for- | Comprehensive | |||||||||||||
Instruments | Benefits | Sale Securities | Income | |||||||||||||
(In thousands) | ||||||||||||||||
Balance at December 31, 2014 | $ | 2,550 | $ | 2,860 | $ | (2,169 | ) | $ | 3,241 | |||||||
Unrealized gains (losses) | 3,535 | — | (1,603 | ) | 1,932 | |||||||||||
Amounts reclassified from AOCI | (307 | ) | 189 | 1,790 | 1,672 | |||||||||||
Balance at March 31, 2015 | $ | 5,778 | $ | 3,049 | $ | (1,982 | ) | $ | 6,845 | |||||||
The following amounts were reclassified out of AOCI: | ||||||||||||||||
Amounts Reclassified from AOCI | Line Item in the Condensed Consolidated Statement of Operations | |||||||||||||||
Three Months Ended March 31, | ||||||||||||||||
Details About AOCI Components | 2015 | 2014 | ||||||||||||||
(In thousands) | ||||||||||||||||
Derivative instruments | $ | 481 | $ | 303 | Revenues | |||||||||||
(174 | ) | (109 | ) | Benefit from income taxes | ||||||||||||
$ | 307 | $ | 194 | Net of tax | ||||||||||||
Pension, postretirement and other post-employment benefits | ||||||||||||||||
Amortization of prior service credits (1) | $ | 2,084 | $ | 2,626 | ||||||||||||
Amortization of actuarial gains (losses), net (1) | (2,378 | ) | (779 | ) | ||||||||||||
(294 | ) | 1,847 | ||||||||||||||
105 | (665 | ) | Benefit from income taxes | |||||||||||||
$ | (189 | ) | $ | 1,182 | Net of tax | |||||||||||
Available-for-sale securities | $ | (2,797 | ) | $ | (556 | ) | Interest and investment income | |||||||||
1,007 | 200 | Benefit from income taxes | ||||||||||||||
$ | (1,790 | ) | $ | (356 | ) | Net of tax | ||||||||||
1 Production-related benefits and workers' compensation costs are included in inventoriable production costs. |
Divestitures
Divestitures | 3 Months Ended |
Mar. 31, 2015 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Divestitures | Divestitures |
During the first quarter of 2014, the Company entered into agreements to sell an operating thermal coal complex and an idled thermal coal mine in Kentucky and the Company's ADDCAR subsidiary, which manufactures a patented highwall mining system. The sales closed in the first quarter of 2014 for total consideration of $45.3 million. The Company received $26.3 million in cash in the first quarter of 2014, and the remainder was paid in the second and fourth quarters of 2014. The Company recognized a net pre-tax gain of $13.8 million from these divestitures, reflected in "other operating (income) expense, net" in the condensed consolidated statement of operations. |
Inventories
Inventories | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Inventory Disclosure [Abstract] | |||||||||
Inventories | Inventories | ||||||||
Inventories consist of the following: | |||||||||
March 31, | December 31, | ||||||||
2015 | 2014 | ||||||||
(In thousands) | |||||||||
Coal | $ | 117,180 | $ | 71,901 | |||||
Repair parts and supplies | 122,933 | 118,352 | |||||||
$ | 240,113 | $ | 190,253 | ||||||
The repair parts and supplies are stated net of an allowance for slow-moving and obsolete inventories of $6.8 million at March 31, 2015 and $6.6 million at December 31, 2014. |
Investments_in_AvailableforSal
Investments in Available-for-Sale Securities | 3 Months Ended | |||||||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||||||
Available-for-sale Securities [Abstract] | ||||||||||||||||||||||||
Investments in Available-for-Sale Securities | Investments in Available-for-Sale Securities | |||||||||||||||||||||||
The Company has invested in marketable debt securities, primarily highly liquid investment grade corporate bonds. These investments are held in the custody of a major financial institution. These securities, along with the Company's investments in marketable equity securities, are classified as available-for-sale securities and, accordingly, the unrealized gains and losses are recorded through other comprehensive income. | ||||||||||||||||||||||||
The Company's investments in available-for-sale marketable securities are as follows: | ||||||||||||||||||||||||
March 31, 2015 | ||||||||||||||||||||||||
Balance Sheet | ||||||||||||||||||||||||
Accumulated | Classification | |||||||||||||||||||||||
Gross Unrealized | Fair | Short-Term | Other | |||||||||||||||||||||
Cost Basis | Gains | Losses | Value | Investments | Assets | |||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Available-for-sale: | ||||||||||||||||||||||||
Corporate notes and bonds | $ | 252,673 | $ | 2 | $ | (3,157 | ) | $ | 249,518 | $ | 249,518 | $ | — | |||||||||||
Equity securities | 3,910 | 2,875 | (2,830 | ) | 3,955 | — | 3,955 | |||||||||||||||||
Total Investments | $ | 256,583 | $ | 2,877 | $ | (5,987 | ) | $ | 253,473 | $ | 249,518 | $ | 3,955 | |||||||||||
December 31, 2014 | ||||||||||||||||||||||||
Balance Sheet | ||||||||||||||||||||||||
Gross | Gross | Classification | ||||||||||||||||||||||
Unrealized | Unrealized | Fair | Short-Term | Other | ||||||||||||||||||||
Cost Basis | Gains | Losses | Value | Investments | Assets | |||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Available-for-sale: | ||||||||||||||||||||||||
Corporate notes and bonds | $ | 253,590 | $ | — | $ | (4,636 | ) | $ | 248,954 | $ | 248,954 | $ | — | |||||||||||
Equity securities | 3,910 | 4,125 | (2,890 | ) | 5,145 | — | 5,145 | |||||||||||||||||
Total Investments | $ | 257,500 | $ | 4,125 | $ | (7,526 | ) | $ | 254,099 | $ | 248,954 | $ | 5,145 | |||||||||||
The aggregate fair value of investments with unrealized losses that were owned for less than a year was $177.3 million and $163.0 million at March 31, 2015 and December 31, 2014, respectively. The aggregate fair value of investments with unrealized losses that were owned for over a year, and were also in a continuous unrealized loss position during that time, was $64.4 million and $86.1 million at March 31, 2015 and December 31, 2014, respectively. The unrealized losses in our portfolio are the result of normal market fluctuations. We do not currently intend to sell these investments before recovery of their amortized cost base. | ||||||||||||||||||||||||
The debt securities outstanding at March 31, 2015 have maturity dates ranging from the second quarter of 2015 through the third quarter of 2016. The Company classifies its investments as current based on the nature of the investments and their availability to provide cash for use in current operations. |
Derivatives
Derivatives | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||||||||
Derivatives | Derivatives | ||||||||||||||||||||||||
Diesel fuel price risk management | |||||||||||||||||||||||||
The Company is exposed to price risk with respect to diesel fuel purchased for use in its operations. The Company anticipates purchasing approximately 57 to 67 million gallons of diesel fuel for use in its operations during 2015. To protect the Company’s cash flows from increases in the price of diesel fuel for its operations, the Company uses forward physical diesel purchase contracts and purchased heating oil call options. At March 31, 2015, the Company had protected the price of approximately 86% of its expected purchases for the remainder of the year with out-of-the-money call options with an average strike price of $3.13 per gallon. Due to the drop in heating oil pricing, the Company has layered in 19.5 million gallons of at-the-money call options for the second half of 2015 representing 60% of expected purchases at an average strike price of $1.92 per gallon. Additionally, the Company has protected approximately 37% of our expected 2016 purchases with out-of-the-money call options. At March 31, 2015, the Company had purchased heating oil call options for approximately 66 million gallons for the purpose of managing the price risk associated with future diesel purchases. These positions are not accounted for as hedges. | |||||||||||||||||||||||||
Coal price risk management positions | |||||||||||||||||||||||||
The Company may sell or purchase forward contracts, swaps and options in the over-the-counter coal market in order to manage its exposure to coal prices. The Company has exposure to the risk of fluctuating coal prices related to forecasted sales or purchases of coal or to the risk of changes in the fair value of a fixed price physical sales contract. Certain derivative contracts may be designated as hedges of these risks. | |||||||||||||||||||||||||
At March 31, 2015, the Company held derivatives for risk management purposes that are expected to settle in the following years: | |||||||||||||||||||||||||
(Tons in thousands) | 2015 | 2016 | Total | ||||||||||||||||||||||
Coal sales | 3,595 | 280 | 3,875 | ||||||||||||||||||||||
Coal purchases | 1,672 | 60 | 1,732 | ||||||||||||||||||||||
The Company has also entered into a nominal quantity of natural gas put options to protect the Company from decreases in natural gas prices, which could impact coal demand. These options are not accounted for as hedges. | |||||||||||||||||||||||||
Coal trading positions | |||||||||||||||||||||||||
The Company may sell or purchase forward contracts, swaps and options in the over-the-counter coal market for trading purposes. The Company is exposed to the risk of changes in coal prices on the value of its coal trading portfolio. The estimated future realization of the value of the trading portfolio is $0.3 million of losses during the remainder of 2015 and $1.4 million of gains in 2016. | |||||||||||||||||||||||||
Tabular derivatives disclosures | |||||||||||||||||||||||||
The Company has master netting agreements with all of its counterparties which allow for the settlement of contracts in an asset position with contracts in a liability position in the event of default or termination. Such netting arrangements reduce the Company’s credit exposure related to these counterparties. For classification purposes, the Company records the net fair value of all the positions with a given counterparty as a net asset or liability in the condensed consolidated balance sheets. The amounts shown in the table below represent the fair value position of individual contracts, and not the net position presented in the accompanying condensed consolidated balance sheets. The fair value and location of derivatives reflected in the accompanying condensed consolidated balance sheets are as follows: | |||||||||||||||||||||||||
31-Mar-15 | 31-Dec-14 | ||||||||||||||||||||||||
Fair Value of Derivatives | Asset | Liability | Asset | Liability | |||||||||||||||||||||
(In thousands) | Derivative | Derivative | Derivative | Derivative | |||||||||||||||||||||
Derivatives Designated as Hedging Instruments | |||||||||||||||||||||||||
Coal | $ | 6,896 | $ | (107 | ) | $ | 6,535 | $ | (2,492 | ) | |||||||||||||||
Derivatives Not Designated as Hedging Instruments | |||||||||||||||||||||||||
Heating oil -- diesel purchases | 4,079 | — | 300 | — | |||||||||||||||||||||
Coal -- held for trading purposes | 126,397 | (125,204 | ) | 96,898 | (93,272 | ) | |||||||||||||||||||
Coal -- risk management | 16,484 | (11,094 | ) | 8,510 | (3,688 | ) | |||||||||||||||||||
Natural gas | 1,148 | (753 | ) | — | — | ||||||||||||||||||||
Total | 148,108 | (137,051 | ) | 105,708 | (96,960 | ) | |||||||||||||||||||
Total derivatives | 155,004 | (137,158 | ) | 112,243 | (99,452 | ) | |||||||||||||||||||
Effect of counterparty netting | (136,148 | ) | 136,148 | (98,686 | ) | 98,686 | |||||||||||||||||||
Net derivatives as classified in the balance sheets | $ | 18,856 | $ | (1,010 | ) | $ | 17,846 | $ | 13,557 | $ | (766 | ) | $ | 12,791 | |||||||||||
31-Mar-15 | 31-Dec-14 | ||||||||||||||||||||||||
Net derivatives as reflected on the balance sheets (in thousands) | 2835 | ||||||||||||||||||||||||
Heating oil | Other current assets | $ | 4,079 | $ | 300 | ||||||||||||||||||||
Coal | Coal derivative assets | 14,777 | 13,257 | ||||||||||||||||||||||
Accrued expenses and other current liabilities | (1,010 | ) | (766 | ) | |||||||||||||||||||||
$ | 17,846 | $ | 12,791 | ||||||||||||||||||||||
The Company had a current liability for the obligation to post cash collateral of $0.7 million and $2.4 million at March 31, 2015 and December 31, 2014, respectively. These amounts are not included with the derivatives presented in the table above and are included in "accrued expenses and other current liabilities", in the accompanying condensed consolidated balance sheets. | |||||||||||||||||||||||||
The effects of derivatives on measures of financial performance are as follows: | |||||||||||||||||||||||||
Derivatives used in Cash Flow Hedging Relationships (in thousands) | |||||||||||||||||||||||||
Three Months Ended March 31, | |||||||||||||||||||||||||
Gain (Loss) Recognized in Other Comprehensive Income(Effective Portion) | Gains (Losses) Reclassified from Other Comprehensive Income into Income | ||||||||||||||||||||||||
(Effective Portion) | |||||||||||||||||||||||||
2015 | 2014 | 2015 | 2014 | ||||||||||||||||||||||
Coal sales | (1) | $ | 10,265 | $ | (515 | ) | $ | 882 | $ | 706 | |||||||||||||||
Coal purchases | (2) | (4,738 | ) | 589 | (401 | ) | (404 | ) | |||||||||||||||||
Totals | $ | 5,527 | $ | 74 | $ | 481 | $ | 302 | |||||||||||||||||
No ineffectiveness or amounts excluded from effectiveness testing relating to the Company’s cash flow hedging relationships were recognized in the results of operations in the three month periods ended March 31, 2015 and 2014. | |||||||||||||||||||||||||
Derivatives Not Designated as Hedging Instruments (in thousands) | |||||||||||||||||||||||||
Three Months Ended March 31, | |||||||||||||||||||||||||
Gain (Loss) Recognized | |||||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||||
Coal — unrealized | (3) | $ | (411 | ) | $ | (1,302 | ) | ||||||||||||||||||
Coal — realized | (4) | $ | 1,091 | $ | 2,879 | ||||||||||||||||||||
Natural gas — unrealized | (3) | $ | 159 | $ | 8 | ||||||||||||||||||||
Heating oil — diesel purchases | (4) | $ | (2,365 | ) | $ | (2,963 | ) | ||||||||||||||||||
Heating oil — fuel surcharges | (4) | $ | — | $ | (254 | ) | |||||||||||||||||||
____________________________________________________________ | |||||||||||||||||||||||||
Location in statement of operations: | |||||||||||||||||||||||||
(1) — Revenues | |||||||||||||||||||||||||
(2) — Cost of sales | |||||||||||||||||||||||||
(3) — Change in fair value of coal derivatives and coal trading activities, net | |||||||||||||||||||||||||
(4) — Other operating income, net | |||||||||||||||||||||||||
Based on fair values at March 31, 2015, gains on derivative contracts designated as hedge instruments in cash flow hedges of approximately $6.3 million are expected to be reclassified from other comprehensive income into earnings during the next twelve months. | |||||||||||||||||||||||||
Related to its trading portfolio, the Company recognized net unrealized and realized losses of $1.0 million and $0.4 million of net unrealized and realized gains during the three months ended March 31, 2015 and 2014, respectively. Gains and losses from trading activities are included in the caption “Change in fair value of coal derivatives and coal trading activities, net” in the accompanying condensed consolidated statements of operations, and are not included in the previous tables reflecting the effects of derivatives on measures of financial performance. |
Accrued_Expenses_and_Other_Cur
Accrued Expenses and Other Current Liabilities | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Payables and Accruals [Abstract] | |||||||||
Accrued Expenses and Other Current Liabilities | Accrued Expenses and Other Current Liabilities | ||||||||
Accrued expenses and other current liabilities consist of the following: | |||||||||
March 31, | December 31, | ||||||||
2015 | 2014 | ||||||||
(In thousands) | |||||||||
Payroll and employee benefits | $ | 49,039 | $ | 73,362 | |||||
Taxes other than income taxes | 111,362 | 114,598 | |||||||
Interest | 77,375 | 30,384 | |||||||
Acquired sales contracts | 11,635 | 12,453 | |||||||
Workers’ compensation | 15,586 | 16,714 | |||||||
Asset retirement obligations | 19,215 | 19,222 | |||||||
Other | 37,291 | 35,663 | |||||||
$ | 321,503 | $ | 302,396 | ||||||
Debt_and_Financing_Arrangement
Debt and Financing Arrangements | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Debt Disclosure [Abstract] | |||||||||
Debt and Financing Arrangements | Debt and Financing Arrangements | ||||||||
March 31, | December 31, | ||||||||
2015 | 2014 | ||||||||
(In thousands) | |||||||||
Term loan due 2018 ($1.9 billion face value) | $ | 1,886,971 | $ | 1,890,846 | |||||
7.00% senior notes due 2019 at par | 1,000,000 | 1,000,000 | |||||||
9.875% senior notes due 2019 ($375.0 million face value) | 363,997 | 363,493 | |||||||
8.00% senior secured notes due 2019 at par | 350,000 | 350,000 | |||||||
7.25% senior notes due 2020 at par | 500,000 | 500,000 | |||||||
7.25% senior notes due 2021 at par | 1,000,000 | 1,000,000 | |||||||
Other | 51,382 | 56,031 | |||||||
5,152,350 | 5,160,370 | ||||||||
Less current maturities of debt | 34,368 | 36,885 | |||||||
Long-term debt | $ | 5,117,982 | $ | 5,123,485 | |||||
Financial covenant requirements may restrict the amount of unused capacity available to the Company for borrowings and letters of credit under credit facilities. The credit facility amendment on December 17, 2013 amended financial maintenance covenants to include only a minimum liquidity test until June, 2015, at which time a maximum secured leverage ratio test takes effect. | |||||||||
At March 31, 2015, the available borrowing capacity under the Company's lines of credit was approximately $179.4 million. |
Income_Taxes
Income Taxes | 3 Months Ended |
Mar. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income taxes |
During the first quarter of 2015, the Company determined it was more likely than not that the federal and state net operating losses it expects to generate in 2015 will not be realized based on projections of future taxable income. Accordingly, the estimated annual effective rate for the year ended December 31, 2015 includes a valuation allowance. In applying the estimated annual effective rate to earnings for the three months ended March 31, 2015, the Company increased its valuation allowance by $45.3 million for the federal net operating losses and $2.6 million for the state net operating losses. | |
During the first quarter of 2014, the Company increased its valuation allowance for the portion of the federal and state net operating losses it expected to generate in 2014. The Company increased its valuation allowance by $21.6 million for the federal net operating losses and $2.2 million for the state net operating losses. |
Fair_Value_Measurements
Fair Value Measurements | 3 Months Ended | ||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||
Fair Value Measurements | Fair Value Measurements | ||||||||||||||||
The hierarchy of fair value measurements assigns a level to fair value measurements based on the inputs used in the respective valuation techniques. The levels of the hierarchy, as defined below, give the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. | |||||||||||||||||
· Level 1 is defined as observable inputs such as quoted prices in active markets for identical assets. Level 1 assets include available-for-sale equity securities, U.S. Treasury securities, and coal futures that are submitted for clearing on the New York Mercantile Exchange. | |||||||||||||||||
· Level 2 is defined as observable inputs other than Level 1 prices. These include quoted prices for similar assets or liabilities in an active market, quoted prices for identical assets and liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. The Company’s level 2 assets and liabilities include U.S. government agency securities and commodity contracts (coal and heating oil) with fair values derived from quoted prices in over-the-counter markets or from prices received from direct broker quotes. | |||||||||||||||||
· Level 3 is defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. These include the Company’s commodity option contracts (coal, natural gas and heating oil) valued using modeling techniques, such as Black-Scholes, that require the use of inputs, particularly volatility, that are rarely observable. Changes in the unobservable inputs would not have a significant impact on the reported Level 3 fair values at March 31, 2015. | |||||||||||||||||
The table below sets forth, by level, the Company’s financial assets and liabilities that are recorded at fair value in the accompanying condensed consolidated balance sheet: | |||||||||||||||||
31-Mar-15 | |||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | ||||||||||||||
(In thousands) | |||||||||||||||||
Assets: | |||||||||||||||||
Investments in marketable securities | $ | 253,473 | $ | 3,955 | $ | 249,518 | $ | — | |||||||||
Derivatives | 18,856 | 7,130 | 2,456 | 9,270 | |||||||||||||
Total assets | $ | 272,329 | $ | 11,085 | $ | 251,974 | $ | 9,270 | |||||||||
Liabilities: | |||||||||||||||||
Derivatives | $ | 1,010 | $ | — | $ | 1,010 | $ | — | |||||||||
The Company’s contracts with its counterparties allow for the settlement of contracts in an asset position with contracts in a liability position in the event of default or termination. For classification purposes, the Company records the net fair value of all the positions with these counterparties as a net asset or liability. Each level in the table above displays the underlying contracts according to their classification in the accompanying condensed consolidated balance sheet, based on this counterparty netting. | |||||||||||||||||
The following table summarizes the change in the fair values of financial instruments categorized as level 3. | |||||||||||||||||
Three Months Ended March 31, 2015 | |||||||||||||||||
(In thousands) | |||||||||||||||||
Balance, beginning of period | $ | 3,040 | |||||||||||||||
Realized and unrealized losses recognized in earnings, net | (1,347 | ) | |||||||||||||||
Realized and unrealized gains recognized in other comprehensive income, net | 1,450 | ||||||||||||||||
Purchases | 7,783 | ||||||||||||||||
Issuances | (1,656 | ) | |||||||||||||||
Ending balance | $ | 9,270 | |||||||||||||||
Net unrealized gains of $0.1 million were recognized during the three months ended March 31, 2015 related to level 3 financial instruments held on March 31, 2015. | |||||||||||||||||
Fair Value of Long-Term Debt | |||||||||||||||||
At March 31, 2015 and December 31, 2014, the fair value of the Company’s debt, including amounts classified as current, was $2.4 billion and $2.7 billion, respectively. Fair values are based upon observed prices in an active market, when available, or from valuation models using market information, which fall into Level 2 in the fair value hierarchy. |
Loss_Per_Common_Share
Loss Per Common Share | 3 Months Ended |
Mar. 31, 2015 | |
Earnings Per Share [Abstract] | |
Loss Per Common Share | Loss Per Common Share |
The effect of options, restricted stock and restricted stock units equaling 8.3 million shares and 6.9 million shares of common stock were excluded from the calculation of diluted weighted average shares outstanding for the three months ended March 31, 2015 and March 31, 2014, respectively, because the exercise price or grant price of the securities exceeded the average market price of the Company's common stock for these periods. The weighted average share impacts of options, restricted stock and restricted stock units that were excluded from the calculation of weighted average shares due to the Company's incurring a net loss for the three months ended March 31, 2015 and March 31, 2014 were 2.5 million and 0.8 million, respectively. |
Employee_Benefit_Plans
Employee Benefit Plans | 3 Months Ended | |||||||
Mar. 31, 2015 | ||||||||
Pension and Other Postretirement Benefit Expense [Abstract] | ||||||||
Employee Benefit Plans | Employee Benefit Plans | |||||||
The following table details the components of pension benefit costs (credits): | ||||||||
Three Months Ended March 31, | ||||||||
2015 | 2014 | |||||||
(In thousands) | ||||||||
Service cost | $ | 4 | $ | 5,924 | ||||
Interest cost | 3,570 | 4,364 | ||||||
Expected return on plan assets | (5,764 | ) | (5,978 | ) | ||||
Amortization of prior service costs (credits) | — | (54 | ) | |||||
Amortization of other actuarial losses | 2,058 | 948 | ||||||
Net benefit cost | $ | (132 | ) | $ | 5,204 | |||
The following table details the components of other postretirement benefit costs (credits): | ||||||||
Three Months Ended March 31, | ||||||||
2015 | 2014 | |||||||
(In thousands) | ||||||||
Service cost | $ | 233 | $ | 444 | ||||
Interest cost | 335 | 464 | ||||||
Amortization of prior service credits | (2,084 | ) | (2,501 | ) | ||||
Amortization of other actuarial losses (gains) | (456 | ) | (170 | ) | ||||
Net benefit credit | $ | (1,972 | ) | $ | (1,763 | ) |
Commitments_and_Contingencies
Commitments and Contingencies | 3 Months Ended |
Mar. 31, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies |
The Company accrues for costs related to contingencies when a loss is probable and the amount is reasonably determinable. Disclosure of contingencies is included in the financial statements when it is at least reasonably possible that a material loss or an additional material loss in excess of amounts already accrued may be incurred. | |
Allegheny Energy Supply (“Allegheny”), the sole customer of coal produced at the Company's subsidiary Wolf Run Mining Company's (“Wolf Run”) Sycamore No. 2 mine, filed a lawsuit against Wolf Run, Hunter Ridge Holdings, Inc. (“Hunter Ridge”), and ICG in state court in Allegheny County, Pennsylvania on December 28, 2006, and amended its complaint on April 23, 2007. Allegheny claimed that Wolf Run breached a coal supply contract when it declared force majeure under the contract upon idling the Sycamore No. 2 mine in the third quarter of 2006, and that Wolf Run continued to breach the contract by failing to ship in volumes referenced in the contract. The Sycamore No. 2 mine was idled after encountering adverse geologic conditions and abandoned gas wells that were previously unidentified and unmapped. | |
After extensive searching for gas wells and rehabilitation of the mine, it was re-opened in 2007, but with notice to Allegheny that it would necessarily operate at reduced volumes in order to safely and effectively avoid the many gas wells within the reserve. The amended complaint also alleged that the production stoppages constitute a breach of the guarantee agreement by Hunter Ridge and breach of certain representations made upon entering into the contract in early 2005. Allegheny voluntarily dropped the breach of representation claims later. Allegheny claimed that it would incur costs in excess of $100 million to purchase replacement coal over the life of the contract. ICG, Wolf Run and Hunter Ridge answered the amended complaint on August 13, 2007, disputing all of the remaining claims. | |
On November 3, 2008, ICG, Wolf Run and Hunter Ridge filed an amended answer and counterclaim against the plaintiffs seeking to void the coal supply agreement due to, among other things, fraudulent inducement and conspiracy. On September 23, 2009, Allegheny filed a second amended complaint alleging several alternative theories of liability in its effort to extend contractual liability to ICG, which was not a party to the original contract and did not exist at the time Wolf Run and Allegheny entered into the contract. No new substantive claims were asserted. ICG answered the second amended complaint on October 13, 2009, denying all of the new claims. The Company's counterclaim was dismissed on motion for summary judgment entered on May 11, 2010. Allegheny's claims against ICG were also dismissed by summary judgment, but the claims against Wolf Run and Hunter Ridge were not. The court conducted a non-jury trial of this matter beginning on January 10, 2011 and concluding on February 1, 2011. | |
At the trial, Allegheny presented its evidence for breach of contract and claimed that it is entitled to past and future damages in the aggregate of between $228 million and $377 million. Wolf Run and Hunter Ridge presented their defense of the claims, including evidence with respect to the existence of force majeure conditions and excuse under the contract and applicable law. Wolf Run and Hunter Ridge presented evidence that Allegheny's damages calculations were significantly inflated because it did not seek to determine damages as of the time of the breach and in some instances artificially assumed future nondelivery or did not take into account the apparent requirement to supply coal in the future. On May 2, 2011, the trial court entered a Memorandum and Verdict determining that Wolf Run had breached the coal supply contract and that the performance shortfall was not excused by force majeure. The trial court awarded total damages and interest in the amount of $104.1 million, which consisted of $13.8 million for past damages, and $90.3 million for future damages. ICG and Allegheny filed post-verdict motions in the trial court and on August 23, 2011, the court denied the parties' motions. The court entered a final judgment on August 25, 2011, in the amount of $104.1 million, which included pre-judgment interest. | |
The parties appealed the lower court's decision to the Superior Court of Pennsylvania. On August 13, 2012, the Superior Court of Pennsylvania affirmed the award of past damages, but ruled that the lower court should have calculated future damages as of the date of breach, and remanded the matter back to the lower court with instructions to recalculate that portion of the award. On November 19, 2012, Allegheny filed a Petition for Allowance of Appeal with the Supreme Court of Pennsylvania and Wolf Run and Hunter Ridge filed an Answer. On July 2, 2013, the Supreme Court of Pennsylvania denied the Petition of Allowance. As this action finalized the past damage award, Wolf Run paid $15.6 million for the past damage amount, including interest, to Allegheny in July 2013. Testimony on the future damage award in the lower court concluded on May 19, 2014, and post-trial briefs and responses were submitted on August 8, 2014. The court held a hearing on this matter on November 5, 2014 and on February 16, 2015 awarded Allegheny $7.5 million plus interest for the future damages. On April 6, 2015, the parties entered into a settlement agreement pursuant to which Wolf Run agreed to pay $15 million and both parties agreed to release and discharge the other party from any further contractual liability. As a result, the Company accrued an additional $2.8 million for the three months ended March 31, 2015 to bring the total amount accrued up to the settlement amount. The expense associated with the accrual is reflected in the line item "Cost of sales". In April, the Company idled the Sycamore No. 2 mine, the impact of which will be recorded in the second quarter. | |
In addition, the Company is a party to numerous other claims and lawsuits with respect to various matters. As of March 31, 2015 and December 31, 2014, the Company had accrued $17.3 million and $22.3 million, respectively, for all legal matters, including $17.3 million and $10.1 million, respectively, classified as current. The ultimate resolution of any such legal matter could result in outcomes which may be materially different from amounts the Company has accrued for such matters. |
Segment_Information
Segment Information | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||
Segment Reporting [Abstract] | |||||||||||||||||||||
Segment Information | Segment Information | ||||||||||||||||||||
The Company's reportable business segments are based on the major coal producing basins in which the Company operates and may include a number of mine complexes. The Company manages its coal sales by coal basin, not by individual mining complex. Geology, coal transportation routes to customers, regulatory environments and coal quality or type are characteristic to a basin, and, accordingly, market and contract pricing have developed by coal basin. Mining operations are evaluated based on adjusted EBITDA, as well as on other non-financial measures, such as safety and environmental performance. The Company’s reportable segments are the Powder River Basin (PRB) segment, with operations in Wyoming; and the Appalachia (APP) segment, with operations primarily in West Virginia. The “Other” category combines other operating segments and includes the Company’s coal mining operations in Colorado and Illinois. | |||||||||||||||||||||
Operating segment results for the three months ended March 31, 2015 and 2014 are presented below. The Company uses Adjusted EBITDA to assess the operating segments’ performance and to allocate resources. The Company’s management believes that Adjusted EBITDA presents a useful measure of our ability to service existing debt and incur additional debt based on ongoing operations. Corporate, Other and Eliminations includes the change in fair value of coal derivatives and coal trading activities, net; corporate overhead; land management; other support functions; and the elimination of intercompany trans-actions. | |||||||||||||||||||||
PRB | APP | Other | Corporate, | Consolidated | |||||||||||||||||
Operating | Other and | ||||||||||||||||||||
Segments | Eliminations | ||||||||||||||||||||
(in thousands) | |||||||||||||||||||||
Three Months Ended March 31, 2015 | |||||||||||||||||||||
Revenues | $ | 391,206 | $ | 223,439 | $ | 62,360 | $ | — | $ | 677,005 | |||||||||||
Adjusted EBITDA | 72,062 | 39,807 | 1,691 | (31,788 | ) | 81,772 | |||||||||||||||
Depreciation, depletion and amortization | 44,361 | 48,727 | 10,055 | 1,731 | 104,874 | ||||||||||||||||
Amortization of acquired sales contracts, net | (1,285 | ) | (2,105 | ) | — | — | (3,390 | ) | |||||||||||||
Capital expenditures | 16,969 | 3,385 | 2,642 | (116 | ) | 22,880 | |||||||||||||||
Three Months Ended March 31, 2014 | |||||||||||||||||||||
Revenues | $ | 358,607 | $ | 279,137 | $ | 98,227 | $ | — | $ | 735,971 | |||||||||||
Adjusted EBITDA | 29,819 | 28,427 | 4,132 | (34,773 | ) | 27,605 | |||||||||||||||
Depreciation, depletion and amortization | 39,245 | 54,988 | 9,519 | 671 | 104,423 | ||||||||||||||||
Amortization of acquired sales contracts, net | (789 | ) | (2,974 | ) | 67 | — | (3,696 | ) | |||||||||||||
Capital expenditures | 2,094 | 8,156 | 1,801 | 2,403 | 14,454 | ||||||||||||||||
A reconciliation of adjusted EBITDA to consolidated loss before income taxes follows: | |||||||||||||||||||||
Three Months Ended March 31, | |||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Adjusted EBITDA | $ | 81,772 | $ | 27,605 | |||||||||||||||||
Depreciation, depletion and amortization | (104,874 | ) | (104,423 | ) | |||||||||||||||||
Amortization of acquired sales contracts, net | 3,390 | 3,696 | |||||||||||||||||||
Interest expense, net | (96,879 | ) | (94,628 | ) | |||||||||||||||||
Loss before income taxes | $ | (116,591 | ) | $ | (167,750 | ) |
Supplemental_Consolidating_Fin
Supplemental Consolidating Financial Information | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||
Supplemental Condensed Consolidating Financial Information [Abstract] | |||||||||||||||||||||
Supplemental Consolidating Financial Information | Supplemental Consolidating Financial Information | ||||||||||||||||||||
Pursuant to the indentures governing Arch Coal, Inc.’s senior notes, certain wholly-owned subsidiaries of the Company have fully and unconditionally guaranteed the senior notes on a joint and several basis. The following tables present condensed consolidating financial information for (i) the Company, (ii) the issuer of the senior notes, (iii) the guarantors under the senior notes, and (iv) the entities which are not guarantors under the senior notes (Arch Receivable Company, LLC and the Company’s subsidiaries outside the United States): | |||||||||||||||||||||
Condensed Consolidating Statements of Operations | |||||||||||||||||||||
Three Months Ended March 31, 2015 | |||||||||||||||||||||
Parent/Issuer | Guarantor | Non- | Eliminations | Consolidated | |||||||||||||||||
Subsidiaries | Guarantor | ||||||||||||||||||||
Subsidiaries | |||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Revenues | $ | — | $ | 677,005 | $ | — | $ | — | $ | 677,005 | |||||||||||
Costs, expenses and other | |||||||||||||||||||||
Cost of sales (exclusive of items shown separately below) | 7,470 | 555,686 | — | (834 | ) | 562,322 | |||||||||||||||
Depreciation, depletion and amortization | 1,060 | 103,812 | 2 | — | 104,874 | ||||||||||||||||
Amortization of acquired sales contracts, net | — | (3,390 | ) | — | — | (3,390 | ) | ||||||||||||||
Change in fair value of coal derivatives and coal trading activities, net | — | 1,220 | — | — | 1,220 | ||||||||||||||||
Asset impairment and mine closure costs | — | — | — | — | — | ||||||||||||||||
Selling, general and administrative expenses | 15,439 | 6,243 | 1,448 | (525 | ) | 22,605 | |||||||||||||||
Other operating (income) expense, net | 3,700 | 5,278 | (1,251 | ) | 1,359 | 9,086 | |||||||||||||||
27,669 | 668,849 | 199 | — | 696,717 | |||||||||||||||||
Income from investment in subsidiaries | 21,050 | — | — | (21,050 | ) | — | |||||||||||||||
Income (Loss) from operations | (6,619 | ) | 8,156 | (199 | ) | (21,050 | ) | (19,712 | ) | ||||||||||||
Interest expense, net | |||||||||||||||||||||
Interest expense | (118,056 | ) | (6,763 | ) | (1,275 | ) | 26,842 | (99,252 | ) | ||||||||||||
Interest and investment income | 8,072 | 19,774 | 1,369 | (26,842 | ) | 2,373 | |||||||||||||||
(109,984 | ) | 13,011 | 94 | — | (96,879 | ) | |||||||||||||||
Income (loss) from continuing operations before income taxes | (116,603 | ) | 21,167 | (105 | ) | (21,050 | ) | (116,591 | ) | ||||||||||||
Provision for (benefit from) income taxes | (3,408 | ) | — | 12 | — | (3,396 | ) | ||||||||||||||
Net income (loss) | $ | (113,195 | ) | $ | 21,167 | $ | (117 | ) | $ | (21,050 | ) | $ | (113,195 | ) | |||||||
Total comprehensive income (loss) | $ | (109,591 | ) | $ | 24,407 | $ | (117 | ) | $ | (24,290 | ) | $ | (109,591 | ) | |||||||
Condensed Consolidating Statements of Operations | |||||||||||||||||||||
Three Months Ended March 31, 2014 | |||||||||||||||||||||
Parent/Issuer | Guarantor | Non- | Eliminations | Consolidated | |||||||||||||||||
Subsidiaries | Guarantor | ||||||||||||||||||||
Subsidiaries | |||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Revenues | $ | — | $ | 735,971 | $ | — | $ | — | $ | 735,971 | |||||||||||
Costs, expenses and other | |||||||||||||||||||||
Cost of sales (exclusive of items shown separately below) | 3,389 | 683,775 | — | (850 | ) | 686,314 | |||||||||||||||
Depreciation, depletion and amortization | 1,472 | 102,942 | 9 | — | 104,423 | ||||||||||||||||
Amortization of acquired sales contracts, net | — | (3,696 | ) | — | — | (3,696 | ) | ||||||||||||||
Change in fair value of coal derivatives and coal trading activities, net | — | 914 | — | — | 914 | ||||||||||||||||
Asset impairment and mine closure costs | — | — | — | — | — | ||||||||||||||||
Selling, general and administrative expenses | 19,944 | 7,865 | 1,803 | (476 | ) | 29,136 | |||||||||||||||
Other operating (income) expense, net | 1,593 | (9,480 | ) | (1,437 | ) | 1,326 | (7,998 | ) | |||||||||||||
26,398 | 782,320 | 375 | — | 809,093 | |||||||||||||||||
Loss from investment in subsidiaries | (35,347 | ) | — | — | 35,347 | — | |||||||||||||||
Loss from operations | (61,745 | ) | (46,349 | ) | (375 | ) | 35,347 | (73,122 | ) | ||||||||||||
Interest expense, net | |||||||||||||||||||||
Interest expense | (113,655 | ) | (6,324 | ) | (1,050 | ) | 24,558 | (96,471 | ) | ||||||||||||
Interest and investment income | 7,601 | 17,651 | 1,149 | (24,558 | ) | 1,843 | |||||||||||||||
(106,054 | ) | 11,327 | 99 | — | (94,628 | ) | |||||||||||||||
Income (loss) from continuing operations before income taxes | (167,799 | ) | (35,022 | ) | (276 | ) | 35,347 | (167,750 | ) | ||||||||||||
Provision for (benefit from) income taxes | (43,660 | ) | — | 49 | — | (43,611 | ) | ||||||||||||||
Net loss | $ | (124,139 | ) | $ | (35,022 | ) | $ | (325 | ) | $ | 35,347 | $ | (124,139 | ) | |||||||
Total comprehensive loss | $ | (126,769 | ) | $ | (36,428 | ) | $ | (325 | ) | $ | 36,753 | $ | (126,769 | ) | |||||||
Condensed Consolidating Balance Sheets | |||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||
Parent/Issuer | Guarantor | Non-Guarantor | Eliminations | Consolidated | |||||||||||||||||
Subsidiaries | Subsidiaries | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Assets | |||||||||||||||||||||
Cash and cash equivalents | $ | 577,832 | $ | 100,430 | $ | 11,710 | $ | — | $ | 689,972 | |||||||||||
Short term investments | 249,518 | — | — | — | 249,518 | ||||||||||||||||
Receivables | 10,184 | 10,894 | 197,321 | (4,650 | ) | 213,749 | |||||||||||||||
Inventories | — | 240,113 | — | — | 240,113 | ||||||||||||||||
Other | 82,714 | 44,828 | 10,095 | — | 137,637 | ||||||||||||||||
Total current assets | 920,248 | 396,265 | 219,126 | (4,650 | ) | 1,530,989 | |||||||||||||||
Property, plant and equipment, net | 9,860 | 6,361,096 | — | 379 | 6,371,335 | ||||||||||||||||
Investment in subsidiaries | 7,487,172 | — | — | (7,487,172 | ) | — | |||||||||||||||
Intercompany receivables | — | 2,139,722 | — | (2,139,722 | ) | — | |||||||||||||||
Note receivable from Arch Western | 675,000 | — | — | (675,000 | ) | — | |||||||||||||||
Other | 125,994 | 285,227 | 1,395 | — | 412,616 | ||||||||||||||||
Total other assets | 8,288,166 | 2,424,949 | 1,395 | (10,301,894 | ) | 412,616 | |||||||||||||||
Total assets | $ | 9,218,274 | $ | 9,182,310 | $ | 220,521 | $ | (10,306,165 | ) | $ | 8,314,940 | ||||||||||
Liabilities and Stockholders’ Equity | |||||||||||||||||||||
Accounts payable | $ | 12,377 | $ | 155,080 | $ | 23 | $ | — | $ | 167,480 | |||||||||||
Accrued expenses and other current liabilities | 117,096 | 208,275 | 782 | (4,650 | ) | 321,503 | |||||||||||||||
Current maturities of debt | 24,645 | 9,723 | — | — | 34,368 | ||||||||||||||||
Total current liabilities | 154,118 | 373,078 | 805 | (4,650 | ) | 523,351 | |||||||||||||||
Long-term debt | 5,081,468 | 36,514 | — | — | 5,117,982 | ||||||||||||||||
Intercompany payables | 1,946,138 | — | 193,584 | (2,139,722 | ) | — | |||||||||||||||
Note payable to Arch Coal | — | 675,000 | — | (675,000 | ) | — | |||||||||||||||
Asset retirement obligations | 1,000 | 403,844 | — | — | 404,844 | ||||||||||||||||
Accrued pension benefits | 5,323 | 9,113 | — | — | 14,436 | ||||||||||||||||
Accrued postretirement benefits other than pension | 4,643 | 29,810 | — | — | 34,453 | ||||||||||||||||
Accrued workers’ compensation | 10,046 | 88,637 | — | — | 98,683 | ||||||||||||||||
Deferred income taxes | 419,064 | — | — | — | 419,064 | ||||||||||||||||
Other noncurrent liabilities | 36,530 | 105,069 | 205 | — | 141,804 | ||||||||||||||||
Total liabilities | 7,658,330 | 1,721,065 | 194,594 | (2,819,372 | ) | 6,754,617 | |||||||||||||||
Stockholders’ equity | 1,559,944 | 7,461,245 | 25,927 | (7,486,793 | ) | 1,560,323 | |||||||||||||||
Total liabilities and stockholders’ equity | $ | 9,218,274 | $ | 9,182,310 | $ | 220,521 | $ | (10,306,165 | ) | $ | 8,314,940 | ||||||||||
Condensed Consolidating Balance Sheets | |||||||||||||||||||||
December 31, 2014 | |||||||||||||||||||||
Parent/Issuer | Guarantor | Non-Guarantor | Eliminations | Consolidated | |||||||||||||||||
Subsidiaries | Subsidiaries | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Assets | |||||||||||||||||||||
Cash and cash equivalents | $ | 572,185 | $ | 150,358 | $ | 11,688 | $ | — | $ | 734,231 | |||||||||||
Short term investments | 248,954 | — | — | — | 248,954 | ||||||||||||||||
Receivables | 9,656 | 15,933 | 211,043 | (4,615 | ) | 232,017 | |||||||||||||||
Inventories | — | 190,253 | — | — | 190,253 | ||||||||||||||||
Other | 89,211 | 41,455 | 6,630 | — | 137,296 | ||||||||||||||||
Total current assets | 920,006 | 397,999 | 229,361 | (4,615 | ) | 1,542,751 | |||||||||||||||
Property, plant and equipment, net | 10,470 | 6,442,623 | 2 | 363 | 6,453,458 | ||||||||||||||||
Investment in subsidiaries | 7,464,221 | — | — | (7,464,221 | ) | — | |||||||||||||||
Intercompany receivables | — | 2,021,110 | — | (2,021,110 | ) | — | |||||||||||||||
Note receivable from Arch Western | 675,000 | — | — | (675,000 | ) | — | |||||||||||||||
Other | 131,884 | 300,058 | 1,572 | — | 433,514 | ||||||||||||||||
Total other assets | 8,271,105 | 2,321,168 | 1,572 | (10,160,331 | ) | 433,514 | |||||||||||||||
Total assets | $ | 9,201,581 | $ | 9,161,790 | $ | 230,935 | $ | (10,164,583 | ) | $ | 8,429,723 | ||||||||||
Liabilities and Stockholders’ Equity | |||||||||||||||||||||
Accounts payable | $ | 23,394 | $ | 156,664 | $ | 55 | $ | — | $ | 180,113 | |||||||||||
Accrued expenses and other current liabilities | 85,899 | 220,017 | 1,095 | (4,615 | ) | 302,396 | |||||||||||||||
Current maturities of debt | 27,625 | 9,260 | — | — | 36,885 | ||||||||||||||||
Total current liabilities | 136,918 | 385,941 | 1,150 | (4,615 | ) | 519,394 | |||||||||||||||
Long-term debt | 5,084,839 | 38,646 | — | — | 5,123,485 | ||||||||||||||||
Intercompany payables | 1,817,755 | — | 203,355 | (2,021,110 | ) | — | |||||||||||||||
Note payable to Arch Coal | — | 675,000 | — | (675,000 | ) | — | |||||||||||||||
Asset retirement obligations | 981 | 397,915 | — | — | 398,896 | ||||||||||||||||
Accrued pension benefits | 5,967 | 10,293 | — | — | 16,260 | ||||||||||||||||
Accrued postretirement benefits other than pension | 4,430 | 28,238 | — | — | 32,668 | ||||||||||||||||
Accrued workers’ compensation | 9,172 | 85,119 | — | — | 94,291 | ||||||||||||||||
Deferred income taxes | 422,809 | — | — | — | 422,809 | ||||||||||||||||
Other noncurrent liabilities | 50,919 | 102,461 | 386 | — | 153,766 | ||||||||||||||||
Total liabilities | 7,533,790 | 1,723,613 | 204,891 | (2,700,725 | ) | 6,761,569 | |||||||||||||||
Stockholders’ equity | 1,667,791 | 7,438,177 | 26,044 | (7,463,858 | ) | 1,668,154 | |||||||||||||||
Total liabilities and stockholders’ equity | $ | 9,201,581 | $ | 9,161,790 | $ | 230,935 | $ | (10,164,583 | ) | $ | 8,429,723 | ||||||||||
Condensed Consolidating Statements of Cash Flows | |||||||||||||||||||||
Three Months Ended March 31, 2015 | |||||||||||||||||||||
Parent/Issuer | Guarantor | Non-Guarantor | Eliminations | Consolidated | |||||||||||||||||
Subsidiaries | Subsidiaries | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Cash provided by (used in) operating activities | $ | (114,542 | ) | $ | 96,944 | $ | 13,325 | $ | — | $ | (4,273 | ) | |||||||||
Investing Activities | |||||||||||||||||||||
Capital expenditures | (450 | ) | (22,430 | ) | — | — | (22,880 | ) | |||||||||||||
Additions to prepaid royalties | — | (213 | ) | — | — | (213 | ) | ||||||||||||||
Proceeds from disposals and divestitures | — | 46 | — | — | 46 | ||||||||||||||||
Purchases of marketable securities | (101,793 | ) | — | — | — | (101,793 | ) | ||||||||||||||
Proceeds from sale or maturity of marketable securities and other investments | 99,914 | — | — | — | 99,914 | ||||||||||||||||
Investments in and advances to affiliates | — | (1,843 | ) | — | — | (1,843 | ) | ||||||||||||||
Cash used in investing activities | (2,329 | ) | (24,440 | ) | — | — | (26,769 | ) | |||||||||||||
Financing Activities | |||||||||||||||||||||
Payments on term loan | (4,875 | ) | — | — | — | (4,875 | ) | ||||||||||||||
Net payments on other debt | (2,751 | ) | (2,059 | ) | — | — | (4,810 | ) | |||||||||||||
Debt financing costs | — | — | — | — | — | ||||||||||||||||
Dividends paid | — | — | — | — | — | ||||||||||||||||
Withdrawals (deposits) of restricted cash | — | — | (3,532 | ) | — | (3,532 | ) | ||||||||||||||
Transactions with affiliates, net | 130,144 | (120,373 | ) | (9,771 | ) | — | — | ||||||||||||||
Cash provided by (used in) financing activities | 122,518 | (122,432 | ) | (13,303 | ) | — | (13,217 | ) | |||||||||||||
Increase (decrease) in cash and cash equivalents | 5,647 | (49,928 | ) | 22 | — | (44,259 | ) | ||||||||||||||
Cash and cash equivalents, beginning of period | 572,185 | 150,358 | 11,688 | — | 734,231 | ||||||||||||||||
Cash and cash equivalents, end of period | $ | 577,832 | $ | 100,430 | $ | 11,710 | $ | — | $ | 689,972 | |||||||||||
Condensed Consolidating Statements of Cash Flows | |||||||||||||||||||||
Three Months Ended March 31, 2014 | |||||||||||||||||||||
Parent/Issuer | Guarantor | Non-Guarantor | Eliminations | Consolidated | |||||||||||||||||
Subsidiaries | Subsidiaries | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Cash provided by (used in) operating activities | $ | (150,338 | ) | $ | 142,978 | $ | (32,915 | ) | $ | — | $ | (40,275 | ) | ||||||||
Investing Activities | |||||||||||||||||||||
Capital expenditures | (492 | ) | (13,962 | ) | — | — | (14,454 | ) | |||||||||||||
Additions to prepaid royalties | — | (591 | ) | — | — | (591 | ) | ||||||||||||||
Proceeds from disposals and divestitures | 26,319 | 1,876 | — | — | 28,195 | ||||||||||||||||
Purchases of short term investments | (119,176 | ) | — | — | — | (119,176 | ) | ||||||||||||||
Proceeds from sales of short term investments | 117,681 | — | — | — | 117,681 | ||||||||||||||||
Investments in and advances to affiliates | (1,016 | ) | (2,226 | ) | — | — | (3,242 | ) | |||||||||||||
Cash provided by (used in) investing activities | 23,316 | (14,903 | ) | — | — | 8,413 | |||||||||||||||
Financing Activities | |||||||||||||||||||||
Contributions from parent | — | — | — | — | — | ||||||||||||||||
Payments on term loan | (4,875 | ) | — | — | — | (4,875 | ) | ||||||||||||||
Debt financing costs | (1,957 | ) | — | — | — | (1,957 | ) | ||||||||||||||
Net payments on other debt | (4,521 | ) | — | — | — | (4,521 | ) | ||||||||||||||
Dividends paid | (2,123 | ) | — | — | — | (2,123 | ) | ||||||||||||||
Transactions with affiliates, net | 95,067 | (128,140 | ) | 33,073 | — | — | |||||||||||||||
Cash provided by (used in) financing activities | 81,591 | (128,140 | ) | 33,073 | — | (13,476 | ) | ||||||||||||||
Increase (decrease) in cash and cash equivalents | (45,431 | ) | (65 | ) | 158 | — | (45,338 | ) | |||||||||||||
Cash and cash equivalents, beginning of period | 799,333 | 100,418 | 11,348 | — | 911,099 | ||||||||||||||||
Cash and cash equivalents, end of period | $ | 753,902 | $ | 100,353 | $ | 11,506 | $ | — | $ | 865,761 | |||||||||||
Basis_of_Presentation_Policy
Basis of Presentation (Policy) | 3 Months Ended |
Mar. 31, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation | The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial reporting and U.S. Securities and Exchange Commission regulations. In the opinion of management, all adjustments, consisting of normal, recurring accruals considered necessary for a fair presentation, have been included. Results of operations for the three months ended March 31, 2015 are not necessarily indicative of results to be expected for the year ending December 31, 2015. These financial statements should be read in conjunction with the audited financial statements and related notes as of and for the year ended December 31, 2014 included in the Company’s Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission. |
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Income (Tables) | 3 Months Ended | |||||||||||||||
Mar. 31, 2015 | ||||||||||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||||||||||||||||
Schedule of Accumulated Other Comprehensive Income (Loss) | The following items are included in accumulated other comprehensive income ("AOCI"): | |||||||||||||||
Pension, | ||||||||||||||||
Postretirement | ||||||||||||||||
and Other | Accumulated | |||||||||||||||
Post- | Other | |||||||||||||||
Derivative | Employment | Available-for- | Comprehensive | |||||||||||||
Instruments | Benefits | Sale Securities | Income | |||||||||||||
(In thousands) | ||||||||||||||||
Balance at December 31, 2014 | $ | 2,550 | $ | 2,860 | $ | (2,169 | ) | $ | 3,241 | |||||||
Unrealized gains (losses) | 3,535 | — | (1,603 | ) | 1,932 | |||||||||||
Amounts reclassified from AOCI | (307 | ) | 189 | 1,790 | 1,672 | |||||||||||
Balance at March 31, 2015 | $ | 5,778 | $ | 3,049 | $ | (1,982 | ) | $ | 6,845 | |||||||
Schedule of Comprehensive Income Reclassifications | The following amounts were reclassified out of AOCI: | |||||||||||||||
Amounts Reclassified from AOCI | Line Item in the Condensed Consolidated Statement of Operations | |||||||||||||||
Three Months Ended March 31, | ||||||||||||||||
Details About AOCI Components | 2015 | 2014 | ||||||||||||||
(In thousands) | ||||||||||||||||
Derivative instruments | $ | 481 | $ | 303 | Revenues | |||||||||||
(174 | ) | (109 | ) | Benefit from income taxes | ||||||||||||
$ | 307 | $ | 194 | Net of tax | ||||||||||||
Pension, postretirement and other post-employment benefits | ||||||||||||||||
Amortization of prior service credits (1) | $ | 2,084 | $ | 2,626 | ||||||||||||
Amortization of actuarial gains (losses), net (1) | (2,378 | ) | (779 | ) | ||||||||||||
(294 | ) | 1,847 | ||||||||||||||
105 | (665 | ) | Benefit from income taxes | |||||||||||||
$ | (189 | ) | $ | 1,182 | Net of tax | |||||||||||
Available-for-sale securities | $ | (2,797 | ) | $ | (556 | ) | Interest and investment income | |||||||||
1,007 | 200 | Benefit from income taxes | ||||||||||||||
$ | (1,790 | ) | $ | (356 | ) | Net of tax | ||||||||||
1 Production-related benefits and workers' compensation costs are included in inventoriable production costs. |
Inventories_Tables
Inventories (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Inventory Disclosure [Abstract] | |||||||||
Inventories | Inventories consist of the following: | ||||||||
March 31, | December 31, | ||||||||
2015 | 2014 | ||||||||
(In thousands) | |||||||||
Coal | $ | 117,180 | $ | 71,901 | |||||
Repair parts and supplies | 122,933 | 118,352 | |||||||
$ | 240,113 | $ | 190,253 | ||||||
Investments_in_AvailableforSal1
Investments in Available-for-Sale Securities (Tables) | 3 Months Ended | |||||||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||||||
Available-for-sale Securities [Abstract] | ||||||||||||||||||||||||
Available-for-sale Securities | The Company's investments in available-for-sale marketable securities are as follows: | |||||||||||||||||||||||
March 31, 2015 | ||||||||||||||||||||||||
Balance Sheet | ||||||||||||||||||||||||
Accumulated | Classification | |||||||||||||||||||||||
Gross Unrealized | Fair | Short-Term | Other | |||||||||||||||||||||
Cost Basis | Gains | Losses | Value | Investments | Assets | |||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Available-for-sale: | ||||||||||||||||||||||||
Corporate notes and bonds | $ | 252,673 | $ | 2 | $ | (3,157 | ) | $ | 249,518 | $ | 249,518 | $ | — | |||||||||||
Equity securities | 3,910 | 2,875 | (2,830 | ) | 3,955 | — | 3,955 | |||||||||||||||||
Total Investments | $ | 256,583 | $ | 2,877 | $ | (5,987 | ) | $ | 253,473 | $ | 249,518 | $ | 3,955 | |||||||||||
December 31, 2014 | ||||||||||||||||||||||||
Balance Sheet | ||||||||||||||||||||||||
Gross | Gross | Classification | ||||||||||||||||||||||
Unrealized | Unrealized | Fair | Short-Term | Other | ||||||||||||||||||||
Cost Basis | Gains | Losses | Value | Investments | Assets | |||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Available-for-sale: | ||||||||||||||||||||||||
Corporate notes and bonds | $ | 253,590 | $ | — | $ | (4,636 | ) | $ | 248,954 | $ | 248,954 | $ | — | |||||||||||
Equity securities | 3,910 | 4,125 | (2,890 | ) | 5,145 | — | 5,145 | |||||||||||||||||
Total Investments | $ | 257,500 | $ | 4,125 | $ | (7,526 | ) | $ | 254,099 | $ | 248,954 | $ | 5,145 | |||||||||||
Derivatives_Tables
Derivatives (Tables) | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||||||||
Schedule of Price Risk Derivatives | At March 31, 2015, the Company held derivatives for risk management purposes that are expected to settle in the following years: | ||||||||||||||||||||||||
(Tons in thousands) | 2015 | 2016 | Total | ||||||||||||||||||||||
Coal sales | 3,595 | 280 | 3,875 | ||||||||||||||||||||||
Coal purchases | 1,672 | 60 | 1,732 | ||||||||||||||||||||||
Disclosure of Fair Value of Derivatives | The fair value and location of derivatives reflected in the accompanying condensed consolidated balance sheets are as follows: | ||||||||||||||||||||||||
31-Mar-15 | 31-Dec-14 | ||||||||||||||||||||||||
Fair Value of Derivatives | Asset | Liability | Asset | Liability | |||||||||||||||||||||
(In thousands) | Derivative | Derivative | Derivative | Derivative | |||||||||||||||||||||
Derivatives Designated as Hedging Instruments | |||||||||||||||||||||||||
Coal | $ | 6,896 | $ | (107 | ) | $ | 6,535 | $ | (2,492 | ) | |||||||||||||||
Derivatives Not Designated as Hedging Instruments | |||||||||||||||||||||||||
Heating oil -- diesel purchases | 4,079 | — | 300 | — | |||||||||||||||||||||
Coal -- held for trading purposes | 126,397 | (125,204 | ) | 96,898 | (93,272 | ) | |||||||||||||||||||
Coal -- risk management | 16,484 | (11,094 | ) | 8,510 | (3,688 | ) | |||||||||||||||||||
Natural gas | 1,148 | (753 | ) | — | — | ||||||||||||||||||||
Total | 148,108 | (137,051 | ) | 105,708 | (96,960 | ) | |||||||||||||||||||
Total derivatives | 155,004 | (137,158 | ) | 112,243 | (99,452 | ) | |||||||||||||||||||
Effect of counterparty netting | (136,148 | ) | 136,148 | (98,686 | ) | 98,686 | |||||||||||||||||||
Net derivatives as classified in the balance sheets | $ | 18,856 | $ | (1,010 | ) | $ | 17,846 | $ | 13,557 | $ | (766 | ) | $ | 12,791 | |||||||||||
31-Mar-15 | 31-Dec-14 | ||||||||||||||||||||||||
Net derivatives as reflected on the balance sheets (in thousands) | 2835 | ||||||||||||||||||||||||
Heating oil | Other current assets | $ | 4,079 | $ | 300 | ||||||||||||||||||||
Coal | Coal derivative assets | 14,777 | 13,257 | ||||||||||||||||||||||
Accrued expenses and other current liabilities | (1,010 | ) | (766 | ) | |||||||||||||||||||||
$ | 17,846 | $ | 12,791 | ||||||||||||||||||||||
Effects of Derivatives on Measures of Financial Performance | The effects of derivatives on measures of financial performance are as follows: | ||||||||||||||||||||||||
Derivatives used in Cash Flow Hedging Relationships (in thousands) | |||||||||||||||||||||||||
Three Months Ended March 31, | |||||||||||||||||||||||||
Gain (Loss) Recognized in Other Comprehensive Income(Effective Portion) | Gains (Losses) Reclassified from Other Comprehensive Income into Income | ||||||||||||||||||||||||
(Effective Portion) | |||||||||||||||||||||||||
2015 | 2014 | 2015 | 2014 | ||||||||||||||||||||||
Coal sales | (1) | $ | 10,265 | $ | (515 | ) | $ | 882 | $ | 706 | |||||||||||||||
Coal purchases | (2) | (4,738 | ) | 589 | (401 | ) | (404 | ) | |||||||||||||||||
Totals | $ | 5,527 | $ | 74 | $ | 481 | $ | 302 | |||||||||||||||||
No ineffectiveness or amounts excluded from effectiveness testing relating to the Company’s cash flow hedging relationships were recognized in the results of operations in the three month periods ended March 31, 2015 and 2014. | |||||||||||||||||||||||||
Derivatives Not Designated as Hedging Instruments (in thousands) | |||||||||||||||||||||||||
Three Months Ended March 31, | |||||||||||||||||||||||||
Gain (Loss) Recognized | |||||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||||
Coal — unrealized | (3) | $ | (411 | ) | $ | (1,302 | ) | ||||||||||||||||||
Coal — realized | (4) | $ | 1,091 | $ | 2,879 | ||||||||||||||||||||
Natural gas — unrealized | (3) | $ | 159 | $ | 8 | ||||||||||||||||||||
Heating oil — diesel purchases | (4) | $ | (2,365 | ) | $ | (2,963 | ) | ||||||||||||||||||
Heating oil — fuel surcharges | (4) | $ | — | $ | (254 | ) | |||||||||||||||||||
____________________________________________________________ | |||||||||||||||||||||||||
Location in statement of operations: | |||||||||||||||||||||||||
(1) — Revenues | |||||||||||||||||||||||||
(2) — Cost of sales | |||||||||||||||||||||||||
(3) — Change in fair value of coal derivatives and coal trading activities, net | |||||||||||||||||||||||||
(4) — Other operating income, net |
Accrued_Expenses_and_Other_Cur1
Accrued Expenses and Other Current Liabilities (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Payables and Accruals [Abstract] | |||||||||
Schedule of Accrued Liabilities | Accrued expenses and other current liabilities consist of the following: | ||||||||
March 31, | December 31, | ||||||||
2015 | 2014 | ||||||||
(In thousands) | |||||||||
Payroll and employee benefits | $ | 49,039 | $ | 73,362 | |||||
Taxes other than income taxes | 111,362 | 114,598 | |||||||
Interest | 77,375 | 30,384 | |||||||
Acquired sales contracts | 11,635 | 12,453 | |||||||
Workers’ compensation | 15,586 | 16,714 | |||||||
Asset retirement obligations | 19,215 | 19,222 | |||||||
Other | 37,291 | 35,663 | |||||||
$ | 321,503 | $ | 302,396 | ||||||
Debt_and_Financing_Arrangement1
Debt and Financing Arrangements (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Debt Disclosure [Abstract] | |||||||||
Debt | |||||||||
March 31, | December 31, | ||||||||
2015 | 2014 | ||||||||
(In thousands) | |||||||||
Term loan due 2018 ($1.9 billion face value) | $ | 1,886,971 | $ | 1,890,846 | |||||
7.00% senior notes due 2019 at par | 1,000,000 | 1,000,000 | |||||||
9.875% senior notes due 2019 ($375.0 million face value) | 363,997 | 363,493 | |||||||
8.00% senior secured notes due 2019 at par | 350,000 | 350,000 | |||||||
7.25% senior notes due 2020 at par | 500,000 | 500,000 | |||||||
7.25% senior notes due 2021 at par | 1,000,000 | 1,000,000 | |||||||
Other | 51,382 | 56,031 | |||||||
5,152,350 | 5,160,370 | ||||||||
Less current maturities of debt | 34,368 | 36,885 | |||||||
Long-term debt | $ | 5,117,982 | $ | 5,123,485 | |||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 3 Months Ended | ||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||
Summary of Financial Assets and Liabilities Accounted for at Fair Value | The table below sets forth, by level, the Company’s financial assets and liabilities that are recorded at fair value in the accompanying condensed consolidated balance sheet: | ||||||||||||||||
31-Mar-15 | |||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | ||||||||||||||
(In thousands) | |||||||||||||||||
Assets: | |||||||||||||||||
Investments in marketable securities | $ | 253,473 | $ | 3,955 | $ | 249,518 | $ | — | |||||||||
Derivatives | 18,856 | 7,130 | 2,456 | 9,270 | |||||||||||||
Total assets | $ | 272,329 | $ | 11,085 | $ | 251,974 | $ | 9,270 | |||||||||
Liabilities: | |||||||||||||||||
Derivatives | $ | 1,010 | $ | — | $ | 1,010 | $ | — | |||||||||
Summary of Change in the Fair Values of Financial Instruments Categorized as Level 3 | The following table summarizes the change in the fair values of financial instruments categorized as level 3. | ||||||||||||||||
Three Months Ended March 31, 2015 | |||||||||||||||||
(In thousands) | |||||||||||||||||
Balance, beginning of period | $ | 3,040 | |||||||||||||||
Realized and unrealized losses recognized in earnings, net | (1,347 | ) | |||||||||||||||
Realized and unrealized gains recognized in other comprehensive income, net | 1,450 | ||||||||||||||||
Purchases | 7,783 | ||||||||||||||||
Issuances | (1,656 | ) | |||||||||||||||
Ending balance | $ | 9,270 | |||||||||||||||
Employee_Benefit_Plans_Tables
Employee Benefit Plans (Tables) | 3 Months Ended | |||||||
Mar. 31, 2015 | ||||||||
Pension and Other Postretirement Benefit Expense [Abstract] | ||||||||
Pension Benefit Costs | The following table details the components of pension benefit costs (credits): | |||||||
Three Months Ended March 31, | ||||||||
2015 | 2014 | |||||||
(In thousands) | ||||||||
Service cost | $ | 4 | $ | 5,924 | ||||
Interest cost | 3,570 | 4,364 | ||||||
Expected return on plan assets | (5,764 | ) | (5,978 | ) | ||||
Amortization of prior service costs (credits) | — | (54 | ) | |||||
Amortization of other actuarial losses | 2,058 | 948 | ||||||
Net benefit cost | $ | (132 | ) | $ | 5,204 | |||
The following table details the components of other postretirement benefit costs (credits): | ||||||||
Three Months Ended March 31, | ||||||||
2015 | 2014 | |||||||
(In thousands) | ||||||||
Service cost | $ | 233 | $ | 444 | ||||
Interest cost | 335 | 464 | ||||||
Amortization of prior service credits | (2,084 | ) | (2,501 | ) | ||||
Amortization of other actuarial losses (gains) | (456 | ) | (170 | ) | ||||
Net benefit credit | $ | (1,972 | ) | $ | (1,763 | ) |
Segment_Information_Tables
Segment Information (Tables) | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||
Segment Reporting [Abstract] | |||||||||||||||||||||
Schedule of Operating Segment Results | |||||||||||||||||||||
PRB | APP | Other | Corporate, | Consolidated | |||||||||||||||||
Operating | Other and | ||||||||||||||||||||
Segments | Eliminations | ||||||||||||||||||||
(in thousands) | |||||||||||||||||||||
Three Months Ended March 31, 2015 | |||||||||||||||||||||
Revenues | $ | 391,206 | $ | 223,439 | $ | 62,360 | $ | — | $ | 677,005 | |||||||||||
Adjusted EBITDA | 72,062 | 39,807 | 1,691 | (31,788 | ) | 81,772 | |||||||||||||||
Depreciation, depletion and amortization | 44,361 | 48,727 | 10,055 | 1,731 | 104,874 | ||||||||||||||||
Amortization of acquired sales contracts, net | (1,285 | ) | (2,105 | ) | — | — | (3,390 | ) | |||||||||||||
Capital expenditures | 16,969 | 3,385 | 2,642 | (116 | ) | 22,880 | |||||||||||||||
Three Months Ended March 31, 2014 | |||||||||||||||||||||
Revenues | $ | 358,607 | $ | 279,137 | $ | 98,227 | $ | — | $ | 735,971 | |||||||||||
Adjusted EBITDA | 29,819 | 28,427 | 4,132 | (34,773 | ) | 27,605 | |||||||||||||||
Depreciation, depletion and amortization | 39,245 | 54,988 | 9,519 | 671 | 104,423 | ||||||||||||||||
Amortization of acquired sales contracts, net | (789 | ) | (2,974 | ) | 67 | — | (3,696 | ) | |||||||||||||
Capital expenditures | 2,094 | 8,156 | 1,801 | 2,403 | 14,454 | ||||||||||||||||
Reconciliation Statement of Segment Income from Operations to Consolidated Income Before Income Taxes | A reconciliation of adjusted EBITDA to consolidated loss before income taxes follows: | ||||||||||||||||||||
Three Months Ended March 31, | |||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Adjusted EBITDA | $ | 81,772 | $ | 27,605 | |||||||||||||||||
Depreciation, depletion and amortization | (104,874 | ) | (104,423 | ) | |||||||||||||||||
Amortization of acquired sales contracts, net | 3,390 | 3,696 | |||||||||||||||||||
Interest expense, net | (96,879 | ) | (94,628 | ) | |||||||||||||||||
Loss before income taxes | $ | (116,591 | ) | $ | (167,750 | ) |
Supplemental_Consolidating_Fin1
Supplemental Consolidating Financial Information (Tables) | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||
Supplemental Condensed Consolidating Financial Information [Abstract] | |||||||||||||||||||||
Schedule of Condensed Consolidating Statements of Income | Condensed Consolidating Statements of Operations | ||||||||||||||||||||
Three Months Ended March 31, 2015 | |||||||||||||||||||||
Parent/Issuer | Guarantor | Non- | Eliminations | Consolidated | |||||||||||||||||
Subsidiaries | Guarantor | ||||||||||||||||||||
Subsidiaries | |||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Revenues | $ | — | $ | 677,005 | $ | — | $ | — | $ | 677,005 | |||||||||||
Costs, expenses and other | |||||||||||||||||||||
Cost of sales (exclusive of items shown separately below) | 7,470 | 555,686 | — | (834 | ) | 562,322 | |||||||||||||||
Depreciation, depletion and amortization | 1,060 | 103,812 | 2 | — | 104,874 | ||||||||||||||||
Amortization of acquired sales contracts, net | — | (3,390 | ) | — | — | (3,390 | ) | ||||||||||||||
Change in fair value of coal derivatives and coal trading activities, net | — | 1,220 | — | — | 1,220 | ||||||||||||||||
Asset impairment and mine closure costs | — | — | — | — | — | ||||||||||||||||
Selling, general and administrative expenses | 15,439 | 6,243 | 1,448 | (525 | ) | 22,605 | |||||||||||||||
Other operating (income) expense, net | 3,700 | 5,278 | (1,251 | ) | 1,359 | 9,086 | |||||||||||||||
27,669 | 668,849 | 199 | — | 696,717 | |||||||||||||||||
Income from investment in subsidiaries | 21,050 | — | — | (21,050 | ) | — | |||||||||||||||
Income (Loss) from operations | (6,619 | ) | 8,156 | (199 | ) | (21,050 | ) | (19,712 | ) | ||||||||||||
Interest expense, net | |||||||||||||||||||||
Interest expense | (118,056 | ) | (6,763 | ) | (1,275 | ) | 26,842 | (99,252 | ) | ||||||||||||
Interest and investment income | 8,072 | 19,774 | 1,369 | (26,842 | ) | 2,373 | |||||||||||||||
(109,984 | ) | 13,011 | 94 | — | (96,879 | ) | |||||||||||||||
Income (loss) from continuing operations before income taxes | (116,603 | ) | 21,167 | (105 | ) | (21,050 | ) | (116,591 | ) | ||||||||||||
Provision for (benefit from) income taxes | (3,408 | ) | — | 12 | — | (3,396 | ) | ||||||||||||||
Net income (loss) | $ | (113,195 | ) | $ | 21,167 | $ | (117 | ) | $ | (21,050 | ) | $ | (113,195 | ) | |||||||
Total comprehensive income (loss) | $ | (109,591 | ) | $ | 24,407 | $ | (117 | ) | $ | (24,290 | ) | $ | (109,591 | ) | |||||||
Condensed Consolidating Statements of Operations | |||||||||||||||||||||
Three Months Ended March 31, 2014 | |||||||||||||||||||||
Parent/Issuer | Guarantor | Non- | Eliminations | Consolidated | |||||||||||||||||
Subsidiaries | Guarantor | ||||||||||||||||||||
Subsidiaries | |||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Revenues | $ | — | $ | 735,971 | $ | — | $ | — | $ | 735,971 | |||||||||||
Costs, expenses and other | |||||||||||||||||||||
Cost of sales (exclusive of items shown separately below) | 3,389 | 683,775 | — | (850 | ) | 686,314 | |||||||||||||||
Depreciation, depletion and amortization | 1,472 | 102,942 | 9 | — | 104,423 | ||||||||||||||||
Amortization of acquired sales contracts, net | — | (3,696 | ) | — | — | (3,696 | ) | ||||||||||||||
Change in fair value of coal derivatives and coal trading activities, net | — | 914 | — | — | 914 | ||||||||||||||||
Asset impairment and mine closure costs | — | — | — | — | — | ||||||||||||||||
Selling, general and administrative expenses | 19,944 | 7,865 | 1,803 | (476 | ) | 29,136 | |||||||||||||||
Other operating (income) expense, net | 1,593 | (9,480 | ) | (1,437 | ) | 1,326 | (7,998 | ) | |||||||||||||
26,398 | 782,320 | 375 | — | 809,093 | |||||||||||||||||
Loss from investment in subsidiaries | (35,347 | ) | — | — | 35,347 | — | |||||||||||||||
Loss from operations | (61,745 | ) | (46,349 | ) | (375 | ) | 35,347 | (73,122 | ) | ||||||||||||
Interest expense, net | |||||||||||||||||||||
Interest expense | (113,655 | ) | (6,324 | ) | (1,050 | ) | 24,558 | (96,471 | ) | ||||||||||||
Interest and investment income | 7,601 | 17,651 | 1,149 | (24,558 | ) | 1,843 | |||||||||||||||
(106,054 | ) | 11,327 | 99 | — | (94,628 | ) | |||||||||||||||
Income (loss) from continuing operations before income taxes | (167,799 | ) | (35,022 | ) | (276 | ) | 35,347 | (167,750 | ) | ||||||||||||
Provision for (benefit from) income taxes | (43,660 | ) | — | 49 | — | (43,611 | ) | ||||||||||||||
Net loss | $ | (124,139 | ) | $ | (35,022 | ) | $ | (325 | ) | $ | 35,347 | $ | (124,139 | ) | |||||||
Total comprehensive loss | $ | (126,769 | ) | $ | (36,428 | ) | $ | (325 | ) | $ | 36,753 | $ | (126,769 | ) | |||||||
Schedule of Condensed Consolidating Balance Sheets | Condensed Consolidating Balance Sheets | ||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||
Parent/Issuer | Guarantor | Non-Guarantor | Eliminations | Consolidated | |||||||||||||||||
Subsidiaries | Subsidiaries | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Assets | |||||||||||||||||||||
Cash and cash equivalents | $ | 577,832 | $ | 100,430 | $ | 11,710 | $ | — | $ | 689,972 | |||||||||||
Short term investments | 249,518 | — | — | — | 249,518 | ||||||||||||||||
Receivables | 10,184 | 10,894 | 197,321 | (4,650 | ) | 213,749 | |||||||||||||||
Inventories | — | 240,113 | — | — | 240,113 | ||||||||||||||||
Other | 82,714 | 44,828 | 10,095 | — | 137,637 | ||||||||||||||||
Total current assets | 920,248 | 396,265 | 219,126 | (4,650 | ) | 1,530,989 | |||||||||||||||
Property, plant and equipment, net | 9,860 | 6,361,096 | — | 379 | 6,371,335 | ||||||||||||||||
Investment in subsidiaries | 7,487,172 | — | — | (7,487,172 | ) | — | |||||||||||||||
Intercompany receivables | — | 2,139,722 | — | (2,139,722 | ) | — | |||||||||||||||
Note receivable from Arch Western | 675,000 | — | — | (675,000 | ) | — | |||||||||||||||
Other | 125,994 | 285,227 | 1,395 | — | 412,616 | ||||||||||||||||
Total other assets | 8,288,166 | 2,424,949 | 1,395 | (10,301,894 | ) | 412,616 | |||||||||||||||
Total assets | $ | 9,218,274 | $ | 9,182,310 | $ | 220,521 | $ | (10,306,165 | ) | $ | 8,314,940 | ||||||||||
Liabilities and Stockholders’ Equity | |||||||||||||||||||||
Accounts payable | $ | 12,377 | $ | 155,080 | $ | 23 | $ | — | $ | 167,480 | |||||||||||
Accrued expenses and other current liabilities | 117,096 | 208,275 | 782 | (4,650 | ) | 321,503 | |||||||||||||||
Current maturities of debt | 24,645 | 9,723 | — | — | 34,368 | ||||||||||||||||
Total current liabilities | 154,118 | 373,078 | 805 | (4,650 | ) | 523,351 | |||||||||||||||
Long-term debt | 5,081,468 | 36,514 | — | — | 5,117,982 | ||||||||||||||||
Intercompany payables | 1,946,138 | — | 193,584 | (2,139,722 | ) | — | |||||||||||||||
Note payable to Arch Coal | — | 675,000 | — | (675,000 | ) | — | |||||||||||||||
Asset retirement obligations | 1,000 | 403,844 | — | — | 404,844 | ||||||||||||||||
Accrued pension benefits | 5,323 | 9,113 | — | — | 14,436 | ||||||||||||||||
Accrued postretirement benefits other than pension | 4,643 | 29,810 | — | — | 34,453 | ||||||||||||||||
Accrued workers’ compensation | 10,046 | 88,637 | — | — | 98,683 | ||||||||||||||||
Deferred income taxes | 419,064 | — | — | — | 419,064 | ||||||||||||||||
Other noncurrent liabilities | 36,530 | 105,069 | 205 | — | 141,804 | ||||||||||||||||
Total liabilities | 7,658,330 | 1,721,065 | 194,594 | (2,819,372 | ) | 6,754,617 | |||||||||||||||
Stockholders’ equity | 1,559,944 | 7,461,245 | 25,927 | (7,486,793 | ) | 1,560,323 | |||||||||||||||
Total liabilities and stockholders’ equity | $ | 9,218,274 | $ | 9,182,310 | $ | 220,521 | $ | (10,306,165 | ) | $ | 8,314,940 | ||||||||||
Condensed Consolidating Balance Sheets | |||||||||||||||||||||
December 31, 2014 | |||||||||||||||||||||
Parent/Issuer | Guarantor | Non-Guarantor | Eliminations | Consolidated | |||||||||||||||||
Subsidiaries | Subsidiaries | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Assets | |||||||||||||||||||||
Cash and cash equivalents | $ | 572,185 | $ | 150,358 | $ | 11,688 | $ | — | $ | 734,231 | |||||||||||
Short term investments | 248,954 | — | — | — | 248,954 | ||||||||||||||||
Receivables | 9,656 | 15,933 | 211,043 | (4,615 | ) | 232,017 | |||||||||||||||
Inventories | — | 190,253 | — | — | 190,253 | ||||||||||||||||
Other | 89,211 | 41,455 | 6,630 | — | 137,296 | ||||||||||||||||
Total current assets | 920,006 | 397,999 | 229,361 | (4,615 | ) | 1,542,751 | |||||||||||||||
Property, plant and equipment, net | 10,470 | 6,442,623 | 2 | 363 | 6,453,458 | ||||||||||||||||
Investment in subsidiaries | 7,464,221 | — | — | (7,464,221 | ) | — | |||||||||||||||
Intercompany receivables | — | 2,021,110 | — | (2,021,110 | ) | — | |||||||||||||||
Note receivable from Arch Western | 675,000 | — | — | (675,000 | ) | — | |||||||||||||||
Other | 131,884 | 300,058 | 1,572 | — | 433,514 | ||||||||||||||||
Total other assets | 8,271,105 | 2,321,168 | 1,572 | (10,160,331 | ) | 433,514 | |||||||||||||||
Total assets | $ | 9,201,581 | $ | 9,161,790 | $ | 230,935 | $ | (10,164,583 | ) | $ | 8,429,723 | ||||||||||
Liabilities and Stockholders’ Equity | |||||||||||||||||||||
Accounts payable | $ | 23,394 | $ | 156,664 | $ | 55 | $ | — | $ | 180,113 | |||||||||||
Accrued expenses and other current liabilities | 85,899 | 220,017 | 1,095 | (4,615 | ) | 302,396 | |||||||||||||||
Current maturities of debt | 27,625 | 9,260 | — | — | 36,885 | ||||||||||||||||
Total current liabilities | 136,918 | 385,941 | 1,150 | (4,615 | ) | 519,394 | |||||||||||||||
Long-term debt | 5,084,839 | 38,646 | — | — | 5,123,485 | ||||||||||||||||
Intercompany payables | 1,817,755 | — | 203,355 | (2,021,110 | ) | — | |||||||||||||||
Note payable to Arch Coal | — | 675,000 | — | (675,000 | ) | — | |||||||||||||||
Asset retirement obligations | 981 | 397,915 | — | — | 398,896 | ||||||||||||||||
Accrued pension benefits | 5,967 | 10,293 | — | — | 16,260 | ||||||||||||||||
Accrued postretirement benefits other than pension | 4,430 | 28,238 | — | — | 32,668 | ||||||||||||||||
Accrued workers’ compensation | 9,172 | 85,119 | — | — | 94,291 | ||||||||||||||||
Deferred income taxes | 422,809 | — | — | — | 422,809 | ||||||||||||||||
Other noncurrent liabilities | 50,919 | 102,461 | 386 | — | 153,766 | ||||||||||||||||
Total liabilities | 7,533,790 | 1,723,613 | 204,891 | (2,700,725 | ) | 6,761,569 | |||||||||||||||
Stockholders’ equity | 1,667,791 | 7,438,177 | 26,044 | (7,463,858 | ) | 1,668,154 | |||||||||||||||
Total liabilities and stockholders’ equity | $ | 9,201,581 | $ | 9,161,790 | $ | 230,935 | $ | (10,164,583 | ) | $ | 8,429,723 | ||||||||||
Schedule of Condensed Consolidating Statements of Cash Flows | Condensed Consolidating Statements of Cash Flows | ||||||||||||||||||||
Three Months Ended March 31, 2015 | |||||||||||||||||||||
Parent/Issuer | Guarantor | Non-Guarantor | Eliminations | Consolidated | |||||||||||||||||
Subsidiaries | Subsidiaries | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Cash provided by (used in) operating activities | $ | (114,542 | ) | $ | 96,944 | $ | 13,325 | $ | — | $ | (4,273 | ) | |||||||||
Investing Activities | |||||||||||||||||||||
Capital expenditures | (450 | ) | (22,430 | ) | — | — | (22,880 | ) | |||||||||||||
Additions to prepaid royalties | — | (213 | ) | — | — | (213 | ) | ||||||||||||||
Proceeds from disposals and divestitures | — | 46 | — | — | 46 | ||||||||||||||||
Purchases of marketable securities | (101,793 | ) | — | — | — | (101,793 | ) | ||||||||||||||
Proceeds from sale or maturity of marketable securities and other investments | 99,914 | — | — | — | 99,914 | ||||||||||||||||
Investments in and advances to affiliates | — | (1,843 | ) | — | — | (1,843 | ) | ||||||||||||||
Cash used in investing activities | (2,329 | ) | (24,440 | ) | — | — | (26,769 | ) | |||||||||||||
Financing Activities | |||||||||||||||||||||
Payments on term loan | (4,875 | ) | — | — | — | (4,875 | ) | ||||||||||||||
Net payments on other debt | (2,751 | ) | (2,059 | ) | — | — | (4,810 | ) | |||||||||||||
Debt financing costs | — | — | — | — | — | ||||||||||||||||
Dividends paid | — | — | — | — | — | ||||||||||||||||
Withdrawals (deposits) of restricted cash | — | — | (3,532 | ) | — | (3,532 | ) | ||||||||||||||
Transactions with affiliates, net | 130,144 | (120,373 | ) | (9,771 | ) | — | — | ||||||||||||||
Cash provided by (used in) financing activities | 122,518 | (122,432 | ) | (13,303 | ) | — | (13,217 | ) | |||||||||||||
Increase (decrease) in cash and cash equivalents | 5,647 | (49,928 | ) | 22 | — | (44,259 | ) | ||||||||||||||
Cash and cash equivalents, beginning of period | 572,185 | 150,358 | 11,688 | — | 734,231 | ||||||||||||||||
Cash and cash equivalents, end of period | $ | 577,832 | $ | 100,430 | $ | 11,710 | $ | — | $ | 689,972 | |||||||||||
Condensed Consolidating Statements of Cash Flows | |||||||||||||||||||||
Three Months Ended March 31, 2014 | |||||||||||||||||||||
Parent/Issuer | Guarantor | Non-Guarantor | Eliminations | Consolidated | |||||||||||||||||
Subsidiaries | Subsidiaries | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Cash provided by (used in) operating activities | $ | (150,338 | ) | $ | 142,978 | $ | (32,915 | ) | $ | — | $ | (40,275 | ) | ||||||||
Investing Activities | |||||||||||||||||||||
Capital expenditures | (492 | ) | (13,962 | ) | — | — | (14,454 | ) | |||||||||||||
Additions to prepaid royalties | — | (591 | ) | — | — | (591 | ) | ||||||||||||||
Proceeds from disposals and divestitures | 26,319 | 1,876 | — | — | 28,195 | ||||||||||||||||
Purchases of short term investments | (119,176 | ) | — | — | — | (119,176 | ) | ||||||||||||||
Proceeds from sales of short term investments | 117,681 | — | — | — | 117,681 | ||||||||||||||||
Investments in and advances to affiliates | (1,016 | ) | (2,226 | ) | — | — | (3,242 | ) | |||||||||||||
Cash provided by (used in) investing activities | 23,316 | (14,903 | ) | — | — | 8,413 | |||||||||||||||
Financing Activities | |||||||||||||||||||||
Contributions from parent | — | — | — | — | — | ||||||||||||||||
Payments on term loan | (4,875 | ) | — | — | — | (4,875 | ) | ||||||||||||||
Debt financing costs | (1,957 | ) | — | — | — | (1,957 | ) | ||||||||||||||
Net payments on other debt | (4,521 | ) | — | — | — | (4,521 | ) | ||||||||||||||
Dividends paid | (2,123 | ) | — | — | — | (2,123 | ) | ||||||||||||||
Transactions with affiliates, net | 95,067 | (128,140 | ) | 33,073 | — | — | |||||||||||||||
Cash provided by (used in) financing activities | 81,591 | (128,140 | ) | 33,073 | — | (13,476 | ) | ||||||||||||||
Increase (decrease) in cash and cash equivalents | (45,431 | ) | (65 | ) | 158 | — | (45,338 | ) | |||||||||||||
Cash and cash equivalents, beginning of period | 799,333 | 100,418 | 11,348 | — | 911,099 | ||||||||||||||||
Cash and cash equivalents, end of period | $ | 753,902 | $ | 100,353 | $ | 11,506 | $ | — | $ | 865,761 | |||||||||||
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Income (Schedule of Accumulated Other Comprehensive Income (Loss)) (Details) (USD $) | 3 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2015 |
Accumulated Other Comprenhensive Income (Loss) [Roll Forward] | |
Balance at December 31, 2014 | $3,241 |
Unrealized gains (losses) | 1,932 |
Amounts reclassified from AOCI | 1,672 |
Balance at March 31, 2015 | 6,845 |
Derivative Instruments [Member] | |
Accumulated Other Comprenhensive Income (Loss) [Roll Forward] | |
Balance at December 31, 2014 | 2,550 |
Unrealized gains (losses) | 3,535 |
Amounts reclassified from AOCI | -307 |
Balance at March 31, 2015 | 5,778 |
Pension, Postretirement and Other Postemployment Benefits [Member] | |
Accumulated Other Comprenhensive Income (Loss) [Roll Forward] | |
Balance at December 31, 2014 | 2,860 |
Unrealized gains (losses) | 0 |
Amounts reclassified from AOCI | 189 |
Balance at March 31, 2015 | 3,049 |
Available-for-Sale Securities [Member] | |
Accumulated Other Comprenhensive Income (Loss) [Roll Forward] | |
Balance at December 31, 2014 | -2,169 |
Unrealized gains (losses) | -1,603 |
Amounts reclassified from AOCI | 1,790 |
Balance at March 31, 2015 | ($1,982) |
Accumulated_Other_Comprehensiv3
Accumulated Other Comprehensive Income (Schedule of Reclassifications) (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Revenues | $677,005 | $735,971 |
Benefit from income taxes | 3,396 | 43,611 |
Net loss | -113,195 | -124,139 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Derivative Instruments [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Revenues | 481 | 303 |
Benefit from income taxes | -174 | -109 |
Net loss | 307 | 194 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Pension, Postretirement and Other Postemployment Benefits [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Amortization of prior service credits | 2,084 | 2,626 |
Amortization of actuarial gains (losses), net | -2,378 | -779 |
Other Comprehensive (Income) Loss, Reclassification Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, before Tax | -294 | 1,847 |
Benefit from income taxes | 105 | -665 |
Net of tax | -189 | 1,182 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Available-for-Sale Securities [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Benefit from income taxes | 1,007 | 200 |
Net loss | -1,790 | -356 |
Interest and investment income | ($2,797) | ($556) |
Divestitures_Narrative_Details
Divestitures (Narrative) (Details) (USD $) | 3 Months Ended | 12 Months Ended |
In Millions, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2014 |
Discontinued Operations and Disposal Groups [Abstract] | ||
Total Consideration for Disposal Group | $45.30 | |
Proceeds from divestiture of businesses | 26.3 | |
Net gain on divestitures | $13.80 |
Inventories_Details
Inventories (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
Inventory Disclosure [Abstract] | ||
Coal | $117,180,000 | $71,901,000 |
Repair parts and supplies | 122,933,000 | 118,352,000 |
Inventories | 240,113,000 | 190,253,000 |
Allowance for slow-moving and obsolete inventories | $6,800,000 | $6,600,000 |
Investments_in_AvailableforSal2
Investments in Available-for-Sale Securities (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Debt Securities, Current | $249,518 | $248,954 |
Total Investments, Cost Basis | 256,583 | 257,500 |
Total Investments, Accumulated Gross Unrealized Gains | 2,877 | 4,125 |
Total Investments, Accumulated Gross Unrealized Losses | -5,987 | -7,526 |
Total Investments | 253,473 | 254,099 |
Short-term Investments [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total Investments, Current | 249,518 | 248,954 |
Other Assets [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total Investments, Noncurrent | 3,955 | 5,145 |
Corporate Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Debt Securities, Cost Basis | 252,673 | 253,590 |
Debt Securities, Accumulated Gross Unrealized Gains | 2 | 0 |
Debt Securities, Accumulated Gross Unrealized Losses | -3,157 | -4,636 |
Debt Securities | 249,518 | 248,954 |
Corporate Debt Securities [Member] | Short-term Investments [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Debt Securities, Current | 249,518 | 248,954 |
Corporate Debt Securities [Member] | Other Assets [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Debt Securities, Noncurrent | 0 | 0 |
Equity Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Equity Securities, Cost Basis | 3,910 | 3,910 |
Equity Securities, Accumulated Gross Unrealized Gains | 2,875 | 4,125 |
Equity Securities, Accumulated Gross Unrealized Losses | -2,830 | -2,890 |
Equity securities | 3,955 | 5,145 |
Equity Securities [Member] | Short-term Investments [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Equity Securities, Current | 0 | 0 |
Equity Securities [Member] | Other Assets [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Equity Securities, Noncurrent | $3,955 | $5,145 |
Investments_in_AvailableforSal3
Investments in Available-for-Sale Securities (Narrative) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Millions, unless otherwise specified | ||
Available-for-sale Securities [Abstract] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | $177.30 | $163 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Greater than Twelve Months, Fair Value | $64.40 | $86.10 |
Derivatives_Narrative_Details
Derivatives (Narrative) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Derivative [Line Items] | |||||
Current liability for the obligation to return cash collateral | $0.70 | ||||
Current asset for the right to reclaim cash collateral | 2.4 | ||||
Gain on derivative contracts designated as hedge instruments in cash flow hedges to be reclassified from OCI into earnings during the next twelve months | 6.3 | ||||
Net unrealized and realized gains (losses) related to trading portfolio | -1 | -0.4 | |||
Scenario, Forecast [Member] | |||||
Derivative [Line Items] | |||||
Value of trading portfolio realized | $1.40 | ($0.30) | |||
Not Designated as Hedging Instrument [Member] | Heating Oil [Member] | |||||
Derivative [Line Items] | |||||
Derivative, average price risk option strike price | 3.13 | ||||
Not Designated as Hedging Instrument [Member] | Heating Oil [Member] | Scenario, Forecast [Member] | |||||
Derivative [Line Items] | |||||
Derivative, average price risk option strike price | 1.92 | ||||
Not Designated as Hedging Instrument [Member] | Diesel Purchases [Member] | |||||
Derivative [Line Items] | |||||
Percent of expected requirements covered | 86.00% | ||||
Not Designated as Hedging Instrument [Member] | Diesel Purchases [Member] | Scenario, Forecast [Member] | |||||
Derivative [Line Items] | |||||
Percent of expected requirements covered | 37.00% | 60.00% | |||
Not Designated as Hedging Instrument [Member] | Diesel Purchases [Member] | Heating Oil [Member] | |||||
Derivative [Line Items] | |||||
Quantities under derivative contracts | 66,000,000 | ||||
Not Designated as Hedging Instrument [Member] | Diesel Purchases [Member] | Heating Oil [Member] | Scenario, Forecast [Member] | |||||
Derivative [Line Items] | |||||
Quantities under derivative contracts | 19,500,000 | ||||
Not Designated as Hedging Instrument [Member] | Diesel Purchases [Member] | Minimum [Member] | |||||
Derivative [Line Items] | |||||
Gallons of diesel fuel purchased annually | 57,000,000 | ||||
Not Designated as Hedging Instrument [Member] | Diesel Purchases [Member] | Maximum [Member] | |||||
Derivative [Line Items] | |||||
Gallons of diesel fuel purchased annually | 67,000,000 |
Derivatives_Schedule_of_Price_
Derivatives (Schedule of Price Risk Derivatives) (Details) | Mar. 31, 2015 |
T | |
Coal sales [Member] | |
Derivative [Line Items] | |
Derivatives Held | 3,875,000 |
Coal purchases [Member] | |
Derivative [Line Items] | |
Derivatives Held | 1,732,000 |
Year One, Remainder [Member] | Coal sales [Member] | |
Derivative [Line Items] | |
Derivatives Held | 3,595,000 |
Year One, Remainder [Member] | Coal purchases [Member] | |
Derivative [Line Items] | |
Derivatives Held | 1,672,000 |
Year Two [Member] | Coal sales [Member] | |
Derivative [Line Items] | |
Derivatives Held | 280,000 |
Year Two [Member] | Coal purchases [Member] | |
Derivative [Line Items] | |
Derivatives Held | 60,000 |
Derivatives_Disclosure_Of_Fair
Derivatives (Disclosure Of Fair Value Of Derivatives) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Derivative [Line Items] | ||
Derivative Asset, Fair Value, Gross Liability | ($136,148) | ($98,686) |
Derivative Liability, Fair Value, Gross Asset | 136,148 | 98,686 |
Derivative Asset | 18,856 | 13,557 |
Derivative Liability | -1,010 | -766 |
Net derivatives as classified in the balance sheet | 17,846 | 12,791 |
Not Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Price Risk Derivative Instruments Not Designated as Hedging Instruments Asset, at Fair Value | 148,108 | 105,708 |
Price Risk Derivative Instruments Not Designated as Hedging Instruments Liability, at Fair Value | -137,051 | -96,960 |
Not Designated as Hedging Instrument [Member] | Coal Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Assets | 126,397 | 96,898 |
Derivative Liabilities | -125,204 | -93,272 |
Heating Oil-Diesel Purchases [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Price Risk Derivative Instruments Not Designated as Hedging Instruments Asset, at Fair Value | 4,079 | 300 |
Coal Contract [Member] | Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Derivative Assets | 6,896 | 6,535 |
Derivative Liabilities | -107 | -2,492 |
Coal Contract [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Price Risk Derivative Instruments Not Designated as Hedging Instruments Asset, at Fair Value | 16,484 | 8,510 |
Price Risk Derivative Instruments Not Designated as Hedging Instruments Liability, at Fair Value | -11,094 | -3,688 |
Natural Gas [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Price Risk Derivative Instruments Not Designated as Hedging Instruments Asset, at Fair Value | 1,148 | 0 |
Price Risk Derivative Instruments Not Designated as Hedging Instruments Liability, at Fair Value | -753 | 0 |
Price Risk Derivative [Member] | ||
Derivative [Line Items] | ||
Derivative Assets | 155,004 | 112,243 |
Derivative Liabilities | ($137,158) | ($99,452) |
Derivatives_Net_Derivatives_As
Derivatives (Net Derivatives As Reflected On The Balance Sheets) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Derivatives, Fair Value [Line Items] | ||
Net derivatives as classified in the balance sheet | $17,846 | $12,791 |
Heating Oil [Member] | Other Current Assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Net derivatives as classified in the balance sheet | 4,079 | 300 |
Coal Contract [Member] | Coal Derivative Assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Net derivatives as classified in the balance sheet | 14,777 | 13,257 |
Coal Contract [Member] | Accrued expenses and other current liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Net derivatives as classified in the balance sheet | ($1,010) | ($766) |
Derivatives_Effects_Of_Derivat
Derivatives (Effects Of Derivatives On Measures Of Financial Performance) (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Designated as Hedging Instrument [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain (Loss) Recognized in Other Comprehensive Income(Effective Portion) | $5,527 | $74 |
Gains (Losses) Reclassified from Other Comprehensive Income into Income (Effective Portion) | 481 | 302 |
Designated as Hedging Instrument [Member] | Coal Contract [Member] | Coal sales [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain (Loss) Recognized in Other Comprehensive Income(Effective Portion) | 10,265 | -515 |
Designated as Hedging Instrument [Member] | Coal Contract [Member] | Coal sales [Member] | Sales Revenue, Net [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gains (Losses) Reclassified from Other Comprehensive Income into Income (Effective Portion) | 882 | 706 |
Designated as Hedging Instrument [Member] | Coal Contract [Member] | Coal purchases [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain (Loss) Recognized in Other Comprehensive Income(Effective Portion) | -4,738 | 589 |
Designated as Hedging Instrument [Member] | Coal Contract [Member] | Coal purchases [Member] | Cost of Sales [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gains (Losses) Reclassified from Other Comprehensive Income into Income (Effective Portion) | -401 | -404 |
Not Designated as Hedging Instrument [Member] | Coal Contract [Member] | Change in Fair Value of Coal Derivatives and Coal Trading Activity, Net [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Unrealized Gain (Loss) on Derivatives | -411 | -1,302 |
Not Designated as Hedging Instrument [Member] | Coal Contract [Member] | Other Operating Income (Expense) [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Realized Gain (Loss) on Derivatives | 1,091 | 2,879 |
Not Designated as Hedging Instrument [Member] | Natural Gas [Member] | Change in Fair Value of Coal Derivatives and Coal Trading Activity, Net [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Unrealized Gain (Loss) on Derivatives | 159 | 8 |
Not Designated as Hedging Instrument [Member] | Heating Oil-Diesel Purchases [Member] | Other Operating Income (Expense) [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Heating oil realized and unrealized gains and losses | -2,365 | -2,963 |
Not Designated as Hedging Instrument [Member] | Heating Oil-Fuel Surcharges [Member] | Other Operating Income (Expense) [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Heating oil realized and unrealized gains and losses | $0 | ($254) |
Accrued_Expenses_and_Other_Cur2
Accrued Expenses and Other Current Liabilities (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Payables and Accruals [Abstract] | ||
Payroll and employee benefits | $49,039 | $73,362 |
Taxes other than income taxes | 111,362 | 114,598 |
Interest | 77,375 | 30,384 |
Acquired sales contracts | 11,635 | 12,453 |
Workers’ compensation | 15,586 | 16,714 |
Asset retirement obligations | 19,215 | 19,222 |
Other | 37,291 | 35,663 |
Accrued Liabilities, Current | $321,503 | $302,396 |
Debt_and_Financing_Arrangement2
Debt and Financing Arrangements (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
Debt Instrument [Line Items] | ||
Other | $51,382,000 | $56,031,000 |
Total | 5,152,350,000 | 5,160,370,000 |
Current maturities of debt | 34,368,000 | 36,885,000 |
Long-term debt | 5,117,982,000 | 5,123,485,000 |
Available borrowing capacity under lines of credit | 179,400,000 | |
Loans Payable [Member] | ||
Debt Instrument [Line Items] | ||
Term loan due 2018 ($1.9 billion face value) | 1,886,971,000 | 1,890,846,000 |
Debt Instrument, Face Amount | 1,900,000,000 | 1,900,000,000 |
7.00% Senior Notes Due 2019 [Member] | ||
Debt Instrument [Line Items] | ||
Senior notes | 1,000,000,000 | 1,000,000,000 |
Senior notes interest rate | 7.00% | |
9.875% Senior Notes Due 2019 [Member] | ||
Debt Instrument [Line Items] | ||
Senior notes | 363,997,000 | 363,493,000 |
Senior notes interest rate | 9.88% | |
Debt Instrument, Face Amount | 375,000,000 | 375,000,000 |
8.00% Senior Notes Due 2019 [Member] | ||
Debt Instrument [Line Items] | ||
Senior notes | 350,000,000 | 350,000,000 |
Senior notes interest rate | 8.00% | |
7.25% Senior Notes Due 2020 [Member] | ||
Debt Instrument [Line Items] | ||
Senior notes | 500,000,000 | 500,000,000 |
Senior notes interest rate | 7.25% | |
7.25% Senior Notes Due 2021 [Member] | ||
Debt Instrument [Line Items] | ||
Senior notes | $1,000,000,000 | $1,000,000,000 |
Senior notes interest rate | 7.25% |
Income_Taxes_Narrative_Details
Income Taxes (Narrative) (Details) (Valuation Allowance, Operating Loss Carryforwards [Member], USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Domestic Tax Authority [Member] | ||
Valuation Allowance [Line Items] | ||
Valuation Allowance, Deferred Tax Asset, Change in Amount | $45.30 | $21.60 |
State and Local Jurisdiction [Member] | ||
Valuation Allowance [Line Items] | ||
Valuation Allowance, Deferred Tax Asset, Change in Amount | $2.60 | $2.20 |
Fair_Value_Measurements_Narrat
Fair Value Measurements (Narrative) (Details) (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Dec. 31, 2014 | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Fair value of senior notes and other long-term debt, including amounts classified as current | $2,400,000,000 | $2,700,000,000 |
Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Net unrealized losses related to level 3 financial instruments | $100,000 |
Fair_Value_Measurements_Summar
Fair Value Measurements (Summary Of Financial Assets And Liabilities Accounted For At Fair Value) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Assets: | ||
Investments in marketable securities | $253,473 | $254,099 |
Derivatives | 18,856 | 13,557 |
Total assets | 272,329 | |
Liabilities: | ||
Derivatives | 1,010 | |
Level 1 [Member] | ||
Assets: | ||
Investments in marketable securities | 3,955 | |
Derivatives | 7,130 | |
Total assets | 11,085 | |
Level 2 [Member] | ||
Assets: | ||
Investments in marketable securities | 249,518 | |
Derivatives | 2,456 | |
Total assets | 251,974 | |
Liabilities: | ||
Derivatives | 1,010 | |
Level 3 [Member] | ||
Assets: | ||
Derivatives | 9,270 | |
Total assets | 9,270 | |
Liabilities: | ||
Derivatives | $0 |
Fair_Value_Measurements_Summar1
Fair Value Measurements (Summary Of Change In The Fair Values Of Financial Instruments Categorized As Level 3) (Details) (USD $) | 3 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2015 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |
Balance, beginning of period | $3,040 |
Realized and unrealized losses recognized in earnings, net | -1,347 |
Realized and unrealized gains recognized in other comprehensive income, net | 1,450 |
Purchases | 7,783 |
Issuances | -1,656 |
Ending balance | $9,270 |
Loss_Per_Common_Share_Narrativ
Loss Per Common Share (Narrative) (Details) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Antidilutive due to price [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive securities | 8.3 | 6.9 |
Antidilutive as a result of loss for period [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive securities | 2.5 | 0.8 |
Employee_Benefit_Plans_Pension
Employee Benefit Plans (Pension And Other Postretirement Benefit Costs) (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Pension Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost | $4 | $5,924 |
Interest cost | 3,570 | 4,364 |
Expected return on plan assets | -5,764 | -5,978 |
Amortization of prior service cost (credit) | 0 | -54 |
Amortization of other actuarial (gains) losses | 2,058 | 948 |
Net benefit cost (credit) | -132 | 5,204 |
Other Postretirement Benefit Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost | 233 | 444 |
Interest cost | 335 | 464 |
Amortization of prior service cost (credit) | -2,084 | -2,501 |
Amortization of other actuarial (gains) losses | -456 | -170 |
Net benefit cost (credit) | ($1,972) | ($1,763) |
Commitments_and_Contingencies_
Commitments and Contingencies (Narrative) (Details) (USD $) | 1 Months Ended | 3 Months Ended | 1 Months Ended | 0 Months Ended | |||||
Jul. 31, 2013 | Mar. 31, 2015 | Feb. 01, 2011 | Apr. 06, 2015 | Feb. 16, 2015 | Dec. 31, 2014 | Aug. 25, 2011 | 2-May-11 | Aug. 13, 2007 | |
Purchase replacement coal, excess of | $100,000,000 | ||||||||
Damages and interest awarded | 104,100,000 | 104,100,000 | |||||||
Damages and interest awarded, past damages | 13,800,000 | ||||||||
Damages and interest awarded, future damages | 7,500,000 | 90,300,000 | |||||||
Payments for legal settlements | 15,600,000 | ||||||||
Settlement accrual, provision | 2,800,000 | ||||||||
Amount accrued | 17,300,000 | 22,300,000 | |||||||
Amount accrued current portion | 17,300,000 | 10,100,000 | |||||||
Minimum [Member] | |||||||||
Aggregate amount of past and future damages | 228,000,000 | ||||||||
Maximum [Member] | |||||||||
Aggregate amount of past and future damages | 377,000,000 | ||||||||
Subsidiaries [Member] | Subsequent Event [Member] | |||||||||
Litigation settlement, amount | ($15,000,000) |
Segment_Information_Schedule_O
Segment Information (Schedule Of Operating Segment Results) (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Segment Reporting Information [Line Items] | ||
Revenues | $677,005 | $735,971 |
Adjusted EBITDA | 81,772 | 27,605 |
Income (loss) from operations | -19,712 | -73,122 |
Depreciation, depletion and amortization | 104,874 | 104,423 |
Amortization of acquired sales contracts, net | -3,390 | -3,696 |
Capital expenditures | 22,880 | 14,454 |
PRB [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | 391,206 | 358,607 |
Adjusted EBITDA | 72,062 | 29,819 |
Depreciation, depletion and amortization | 44,361 | 39,245 |
Amortization of acquired sales contracts, net | -1,285 | -789 |
Capital expenditures | 16,969 | 2,094 |
APP [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | 223,439 | 279,137 |
Adjusted EBITDA | 39,807 | 28,427 |
Depreciation, depletion and amortization | 48,727 | 54,988 |
Amortization of acquired sales contracts, net | -2,105 | -2,974 |
Capital expenditures | 3,385 | 8,156 |
Other Segments [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | 62,360 | 98,227 |
Adjusted EBITDA | 1,691 | 4,132 |
Depreciation, depletion and amortization | 10,055 | 9,519 |
Amortization of acquired sales contracts, net | 0 | 67 |
Capital expenditures | 2,642 | 1,801 |
Corporate, Other and Eliminations [Member] | ||
Segment Reporting Information [Line Items] | ||
Adjusted EBITDA | -31,788 | -34,773 |
Depreciation, depletion and amortization | 1,731 | 671 |
Amortization of acquired sales contracts, net | 0 | 0 |
Capital expenditures | ($116) | $2,403 |
Segment_Information_Reconcilia
Segment Information (Reconciliation Statement Of Segment Income from Operations To Consolidated Income Before Income Taxes) (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Segment Reporting [Abstract] | ||
Adjusted EBITDA | $81,772 | $27,605 |
Depreciation, depletion and amortization | -104,874 | -104,423 |
Amortization of acquired sales contracts, net | 3,390 | 3,696 |
Interest expense, net | -96,879 | -94,628 |
Loss from continuing operations before income taxes | ($116,591) | ($167,750) |
Supplemental_Consolidating_Fin2
Supplemental Consolidating Financial Information (Schedule Of Condensed Consolidating Statements Of Operations) (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Condensed Financial Statements, Captions [Line Items] | ||
Revenues | $677,005 | $735,971 |
Costs, expenses and other | ||
Cost of sales (exclusive of items shown separately below) | 562,322 | 686,314 |
Depreciation, depletion and amortization | 104,874 | 104,423 |
Amortization of acquired sales contracts, net | -3,390 | -3,696 |
Change in fair value of coal derivatives and coal trading activities, net | 1,220 | 914 |
Asset impairment and mine closure costs | 0 | 0 |
Selling, general and administrative expenses | 22,605 | 29,136 |
Other operating (income) expense, net | 9,086 | -7,998 |
Total operating expenses | 696,717 | 809,093 |
Loss from operations | -19,712 | -73,122 |
Interest expense, net | ||
Interest expense | -99,252 | -96,471 |
Interest and investment income | 2,373 | 1,843 |
Interest expense, net | -96,879 | -94,628 |
Loss from continuing operations before income taxes | -116,591 | -167,750 |
Provision for (benefit from) income taxes | -3,396 | -43,611 |
Net loss | -113,195 | -124,139 |
Total comprehensive income (loss) | -109,591 | -126,769 |
Parent/Issuer [Member] | ||
Condensed Financial Statements, Captions [Line Items] | ||
Revenues | 0 | 0 |
Costs, expenses and other | ||
Cost of sales (exclusive of items shown separately below) | 7,470 | 3,389 |
Depreciation, depletion and amortization | 1,060 | 1,472 |
Amortization of acquired sales contracts, net | 0 | 0 |
Change in fair value of coal derivatives and coal trading activities, net | 0 | |
Asset impairment and mine closure costs | 0 | 0 |
Selling, general and administrative expenses | 15,439 | 19,944 |
Other operating (income) expense, net | 3,700 | 1,593 |
Total operating expenses | 27,669 | 26,398 |
Income from investment in subsidiaries | 21,050 | -35,347 |
Loss from operations | -6,619 | -61,745 |
Interest expense, net | ||
Interest expense | -118,056 | -113,655 |
Interest and investment income | 8,072 | 7,601 |
Interest expense, net | -109,984 | -106,054 |
Loss from continuing operations before income taxes | -116,603 | -167,799 |
Provision for (benefit from) income taxes | -3,408 | -43,660 |
Net loss | -113,195 | -124,139 |
Total comprehensive income (loss) | -109,591 | -126,769 |
Guarantor Subsidiaries [Member] | ||
Condensed Financial Statements, Captions [Line Items] | ||
Revenues | 677,005 | 735,971 |
Costs, expenses and other | ||
Cost of sales (exclusive of items shown separately below) | 555,686 | 683,775 |
Depreciation, depletion and amortization | 103,812 | 102,942 |
Amortization of acquired sales contracts, net | -3,390 | -3,696 |
Change in fair value of coal derivatives and coal trading activities, net | 1,220 | 914 |
Asset impairment and mine closure costs | 0 | 0 |
Selling, general and administrative expenses | 6,243 | 7,865 |
Other operating (income) expense, net | 5,278 | -9,480 |
Total operating expenses | 668,849 | 782,320 |
Income from investment in subsidiaries | 0 | 0 |
Loss from operations | 8,156 | -46,349 |
Interest expense, net | ||
Interest expense | -6,763 | -6,324 |
Interest and investment income | 19,774 | 17,651 |
Interest expense, net | 13,011 | 11,327 |
Loss from continuing operations before income taxes | 21,167 | -35,022 |
Provision for (benefit from) income taxes | 0 | 0 |
Net loss | 21,167 | -35,022 |
Total comprehensive income (loss) | 24,407 | -36,428 |
Non-Guarantor Subsidiaries [Member] | ||
Condensed Financial Statements, Captions [Line Items] | ||
Revenues | 0 | 0 |
Costs, expenses and other | ||
Cost of sales (exclusive of items shown separately below) | 0 | 0 |
Depreciation, depletion and amortization | 2 | 9 |
Amortization of acquired sales contracts, net | 0 | 0 |
Change in fair value of coal derivatives and coal trading activities, net | 0 | 0 |
Asset impairment and mine closure costs | 0 | 0 |
Selling, general and administrative expenses | 1,448 | 1,803 |
Other operating (income) expense, net | -1,251 | -1,437 |
Total operating expenses | 199 | 375 |
Income from investment in subsidiaries | 0 | 0 |
Loss from operations | -199 | -375 |
Interest expense, net | ||
Interest expense | -1,275 | -1,050 |
Interest and investment income | 1,369 | 1,149 |
Interest expense, net | 94 | 99 |
Loss from continuing operations before income taxes | -105 | -276 |
Provision for (benefit from) income taxes | 12 | 49 |
Net loss | -117 | -325 |
Total comprehensive income (loss) | -117 | -325 |
Eliminations [Member] | ||
Condensed Financial Statements, Captions [Line Items] | ||
Revenues | 0 | 0 |
Costs, expenses and other | ||
Cost of sales (exclusive of items shown separately below) | -834 | -850 |
Depreciation, depletion and amortization | 0 | |
Amortization of acquired sales contracts, net | 0 | 0 |
Change in fair value of coal derivatives and coal trading activities, net | 0 | 0 |
Asset impairment and mine closure costs | 0 | 0 |
Selling, general and administrative expenses | -525 | -476 |
Other operating (income) expense, net | 1,359 | 1,326 |
Total operating expenses | 0 | |
Income from investment in subsidiaries | -21,050 | 35,347 |
Loss from operations | -21,050 | 35,347 |
Interest expense, net | ||
Interest expense | 26,842 | 24,558 |
Interest and investment income | -26,842 | -24,558 |
Interest expense, net | 0 | 0 |
Loss from continuing operations before income taxes | -21,050 | 35,347 |
Provision for (benefit from) income taxes | 0 | 0 |
Net loss | -21,050 | 35,347 |
Total comprehensive income (loss) | ($24,290) | $36,753 |
Supplemental_Consolidating_Fin3
Supplemental Consolidating Financial Information (Schedule Of Condensed Consolidating Balance Sheets) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||||
Assets | ||||
Cash and cash equivalents | $689,972 | $734,231 | $865,761 | $911,099 |
Short term investments | 249,518 | 248,954 | ||
Receivables | 213,749 | 232,017 | ||
Inventories | 240,113 | 190,253 | ||
Other | 137,637 | 137,296 | ||
Total current assets | 1,530,989 | 1,542,751 | ||
Property, plant and equipment, net | 6,371,335 | 6,453,458 | ||
Other | 412,616 | 433,514 | ||
Total other assets | 412,616 | 433,514 | ||
Total assets | 8,314,940 | 8,429,723 | ||
Liabilities and Stockholders’ Equity | ||||
Accounts payable | 167,480 | 180,113 | ||
Accrued expenses and other current liabilities | 321,503 | 302,396 | ||
Current maturities of debt | 34,368 | 36,885 | ||
Total current liabilities | 523,351 | 519,394 | ||
Long-term debt | 5,117,982 | 5,123,485 | ||
Asset retirement obligations | 404,844 | 398,896 | ||
Accrued pension benefits | 14,436 | 16,260 | ||
Accrued postretirement benefits other than pension | 34,453 | 32,668 | ||
Accrued workers’ compensation | 98,683 | 94,291 | ||
Deferred income taxes | 419,064 | 422,809 | ||
Other noncurrent liabilities | 141,804 | 153,766 | ||
Total liabilities | 6,754,617 | 6,761,569 | ||
Stockholders' equity | 1,560,323 | 1,668,154 | ||
Total liabilities and stockholders’ equity | 8,314,940 | 8,429,723 | ||
Parent/Issuer [Member] | ||||
Assets | ||||
Cash and cash equivalents | 577,832 | 572,185 | 753,902 | 799,333 |
Short term investments | 249,518 | 248,954 | ||
Receivables | 10,184 | 9,656 | ||
Inventories | 0 | 0 | ||
Other | 82,714 | 89,211 | ||
Total current assets | 920,248 | 920,006 | ||
Property, plant and equipment, net | 9,860 | 10,470 | ||
Investment in subsidiaries | 7,487,172 | 7,464,221 | ||
Intercompany receivables | 0 | 0 | ||
Note receivable from Arch Western | 675,000 | 675,000 | ||
Other | 125,994 | 131,884 | ||
Total other assets | 8,288,166 | 8,271,105 | ||
Total assets | 9,218,274 | 9,201,581 | ||
Liabilities and Stockholders’ Equity | ||||
Accounts payable | 12,377 | 23,394 | ||
Accrued expenses and other current liabilities | 117,096 | 85,899 | ||
Current maturities of debt | 24,645 | 27,625 | ||
Total current liabilities | 154,118 | 136,918 | ||
Long-term debt | 5,081,468 | 5,084,839 | ||
Intercompany payables | 1,946,138 | 1,817,755 | ||
Note payable to Arch Coal | 0 | |||
Asset retirement obligations | 1,000 | 981 | ||
Accrued pension benefits | 5,323 | 5,967 | ||
Accrued postretirement benefits other than pension | 4,643 | 4,430 | ||
Accrued workers’ compensation | 10,046 | 9,172 | ||
Deferred income taxes | 419,064 | 422,809 | ||
Other noncurrent liabilities | 36,530 | 50,919 | ||
Total liabilities | 7,658,330 | 7,533,790 | ||
Stockholders' equity | 1,559,944 | 1,667,791 | ||
Total liabilities and stockholders’ equity | 9,218,274 | 9,201,581 | ||
Guarantor Subsidiaries [Member] | ||||
Assets | ||||
Cash and cash equivalents | 100,430 | 150,358 | 100,353 | 100,418 |
Short term investments | 0 | 0 | ||
Receivables | 10,894 | 15,933 | ||
Inventories | 240,113 | 190,253 | ||
Other | 44,828 | 41,455 | ||
Total current assets | 396,265 | 397,999 | ||
Property, plant and equipment, net | 6,361,096 | 6,442,623 | ||
Investment in subsidiaries | 0 | 0 | ||
Intercompany receivables | 2,139,722 | 2,021,110 | ||
Note receivable from Arch Western | 0 | 0 | ||
Other | 285,227 | 300,058 | ||
Total other assets | 2,424,949 | 2,321,168 | ||
Total assets | 9,182,310 | 9,161,790 | ||
Liabilities and Stockholders’ Equity | ||||
Accounts payable | 155,080 | 156,664 | ||
Accrued expenses and other current liabilities | 208,275 | 220,017 | ||
Current maturities of debt | 9,723 | 9,260 | ||
Total current liabilities | 373,078 | 385,941 | ||
Long-term debt | 36,514 | 38,646 | ||
Intercompany payables | 0 | |||
Note payable to Arch Coal | 675,000 | 675,000 | ||
Asset retirement obligations | 403,844 | 397,915 | ||
Accrued pension benefits | 9,113 | 10,293 | ||
Accrued postretirement benefits other than pension | 29,810 | 28,238 | ||
Accrued workers’ compensation | 88,637 | 85,119 | ||
Deferred income taxes | 0 | |||
Other noncurrent liabilities | 105,069 | 102,461 | ||
Total liabilities | 1,721,065 | 1,723,613 | ||
Stockholders' equity | 7,461,245 | 7,438,177 | ||
Total liabilities and stockholders’ equity | 9,182,310 | 9,161,790 | ||
Non-Guarantor Subsidiaries [Member] | ||||
Assets | ||||
Cash and cash equivalents | 11,710 | 11,688 | 11,506 | 11,348 |
Short term investments | 0 | 0 | ||
Receivables | 197,321 | 211,043 | ||
Inventories | 0 | 0 | ||
Other | 10,095 | 6,630 | ||
Total current assets | 219,126 | 229,361 | ||
Property, plant and equipment, net | 2 | |||
Investment in subsidiaries | 0 | 0 | ||
Intercompany receivables | 0 | 0 | ||
Note receivable from Arch Western | 0 | 0 | ||
Other | 1,395 | 1,572 | ||
Total other assets | 1,395 | 1,572 | ||
Total assets | 220,521 | 230,935 | ||
Liabilities and Stockholders’ Equity | ||||
Accounts payable | 23 | 55 | ||
Accrued expenses and other current liabilities | 782 | 1,095 | ||
Current maturities of debt | 0 | 0 | ||
Total current liabilities | 805 | 1,150 | ||
Long-term debt | 0 | 0 | ||
Intercompany payables | 193,584 | 203,355 | ||
Note payable to Arch Coal | 0 | 0 | ||
Asset retirement obligations | 0 | 0 | ||
Accrued pension benefits | 0 | 0 | ||
Accrued postretirement benefits other than pension | 0 | 0 | ||
Accrued workers’ compensation | 0 | 0 | ||
Deferred income taxes | 0 | 0 | ||
Other noncurrent liabilities | 205 | 386 | ||
Total liabilities | 194,594 | 204,891 | ||
Stockholders' equity | 25,927 | 26,044 | ||
Total liabilities and stockholders’ equity | 220,521 | 230,935 | ||
Eliminations [Member] | ||||
Assets | ||||
Cash and cash equivalents | 0 | 0 | 0 | 0 |
Short term investments | 0 | 0 | ||
Receivables | -4,650 | -4,615 | ||
Inventories | 0 | 0 | ||
Other | 0 | |||
Total current assets | -4,650 | -4,615 | ||
Property, plant and equipment, net | 379 | 363 | ||
Investment in subsidiaries | -7,487,172 | -7,464,221 | ||
Intercompany receivables | -2,139,722 | -2,021,110 | ||
Note receivable from Arch Western | -675,000 | -675,000 | ||
Other | 0 | |||
Total other assets | -10,301,894 | -10,160,331 | ||
Total assets | -10,306,165 | -10,164,583 | ||
Liabilities and Stockholders’ Equity | ||||
Accounts payable | 0 | 0 | ||
Accrued expenses and other current liabilities | -4,650 | -4,615 | ||
Current maturities of debt | 0 | 0 | ||
Total current liabilities | -4,650 | -4,615 | ||
Long-term debt | 0 | 0 | ||
Intercompany payables | -2,139,722 | -2,021,110 | ||
Note payable to Arch Coal | -675,000 | -675,000 | ||
Asset retirement obligations | 0 | 0 | ||
Accrued pension benefits | 0 | 0 | ||
Accrued postretirement benefits other than pension | 0 | 0 | ||
Accrued workers’ compensation | 0 | 0 | ||
Deferred income taxes | 0 | 0 | ||
Other noncurrent liabilities | 0 | 0 | ||
Total liabilities | -2,819,372 | -2,700,725 | ||
Stockholders' equity | -7,486,793 | -7,463,858 | ||
Total liabilities and stockholders’ equity | ($10,306,165) | ($10,164,583) |
Supplemental_Consolidating_Fin4
Supplemental Consolidating Financial Information (Schedule Of Condensed Consolidating Statements Of Cash Flows) (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Condensed Financial Statements, Captions [Line Items] | ||
Cash provided by (used in) operating activities | ($4,273) | ($40,275) |
Investing Activities | ||
Capital expenditures | -22,880 | -14,454 |
Additions to prepaid royalties | -213 | -591 |
Proceeds from disposals and divestitures | 46 | 28,195 |
Purchases of marketable securities | -101,793 | -119,176 |
Proceeds from sales of short term investments | 99,914 | 117,681 |
Investments in and advances to affiliates | -1,843 | -3,242 |
Cash provided by (used in) investing activities | -26,769 | 8,413 |
Financing Activities | ||
Payments on term loan | -4,875 | -4,875 |
Debt financing costs | -1,957 | |
Net payments on other debt | -4,810 | -4,521 |
Dividends paid | 0 | -2,123 |
Withdrawals (deposits) of restricted cash | -3,532 | 0 |
Cash used in financing activities | -13,217 | -13,476 |
Increase (decrease) in cash and cash equivalents | -44,259 | -45,338 |
Cash and cash equivalents, beginning of period | 734,231 | 911,099 |
Cash and cash equivalents, end of period | 689,972 | 865,761 |
Parent/Issuer [Member] | ||
Condensed Financial Statements, Captions [Line Items] | ||
Cash provided by (used in) operating activities | -114,542 | -150,338 |
Investing Activities | ||
Capital expenditures | -450 | -492 |
Additions to prepaid royalties | 0 | |
Proceeds from disposals and divestitures | 26,319 | |
Purchases of marketable securities | -101,793 | -119,176 |
Proceeds from sales of short term investments | 99,914 | 117,681 |
Investments in and advances to affiliates | -1,016 | |
Cash provided by (used in) investing activities | -2,329 | 23,316 |
Financing Activities | ||
Contributions from parent | 0 | |
Payments on term loan | -4,875 | -4,875 |
Debt financing costs | -1,957 | |
Net payments on other debt | -2,751 | -4,521 |
Dividends paid | -2,123 | |
Withdrawals (deposits) of restricted cash | 0 | |
Transactions with affiliates, net | 130,144 | 95,067 |
Cash used in financing activities | 122,518 | 81,591 |
Increase (decrease) in cash and cash equivalents | 5,647 | -45,431 |
Cash and cash equivalents, beginning of period | 572,185 | 799,333 |
Cash and cash equivalents, end of period | 577,832 | 753,902 |
Guarantor Subsidiaries [Member] | ||
Condensed Financial Statements, Captions [Line Items] | ||
Cash provided by (used in) operating activities | 96,944 | 142,978 |
Investing Activities | ||
Capital expenditures | -22,430 | -13,962 |
Additions to prepaid royalties | -213 | -591 |
Proceeds from disposals and divestitures | 46 | 1,876 |
Purchases of marketable securities | 0 | |
Proceeds from sales of short term investments | 0 | |
Investments in and advances to affiliates | -1,843 | -2,226 |
Cash provided by (used in) investing activities | -24,440 | -14,903 |
Financing Activities | ||
Payments on term loan | 0 | 0 |
Net payments on other debt | -2,059 | |
Dividends paid | 0 | |
Withdrawals (deposits) of restricted cash | 0 | |
Transactions with affiliates, net | -120,373 | -128,140 |
Cash used in financing activities | -122,432 | -128,140 |
Increase (decrease) in cash and cash equivalents | -49,928 | -65 |
Cash and cash equivalents, beginning of period | 150,358 | 100,418 |
Cash and cash equivalents, end of period | 100,430 | 100,353 |
Non-Guarantor Subsidiaries [Member] | ||
Condensed Financial Statements, Captions [Line Items] | ||
Cash provided by (used in) operating activities | 13,325 | -32,915 |
Investing Activities | ||
Capital expenditures | 0 | |
Additions to prepaid royalties | 0 | |
Proceeds from disposals and divestitures | 0 | |
Purchases of marketable securities | 0 | |
Proceeds from sales of short term investments | 0 | |
Financing Activities | ||
Contributions from parent | 0 | |
Payments on term loan | 0 | 0 |
Debt financing costs | 0 | |
Net payments on other debt | 0 | |
Dividends paid | 0 | |
Withdrawals (deposits) of restricted cash | -3,532 | |
Transactions with affiliates, net | -9,771 | 33,073 |
Cash used in financing activities | -13,303 | 33,073 |
Increase (decrease) in cash and cash equivalents | 22 | 158 |
Cash and cash equivalents, beginning of period | 11,688 | 11,348 |
Cash and cash equivalents, end of period | 11,710 | 11,506 |
Eliminations [Member] | ||
Condensed Financial Statements, Captions [Line Items] | ||
Cash provided by (used in) operating activities | 0 | |
Investing Activities | ||
Capital expenditures | 0 | |
Additions to prepaid royalties | 0 | |
Proceeds from disposals and divestitures | 0 | |
Purchases of marketable securities | 0 | |
Proceeds from sales of short term investments | 0 | |
Financing Activities | ||
Payments on term loan | 0 | |
Withdrawals (deposits) of restricted cash | 0 | |
Transactions with affiliates, net | 0 | |
Increase (decrease) in cash and cash equivalents | 0 | |
Cash and cash equivalents, beginning of period | 0 | 0 |
Cash and cash equivalents, end of period | $0 | $0 |