Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended |
Mar. 31, 2014 | |
Document Documentand Entity Information [Abstract] | ' |
Entity Registrant Name | 'WESTMORELAND COAL Co |
Entity Central Index Key | '0000106455 |
Document Type | '8-K |
Document Period End Date | 31-Mar-14 |
Amendment Flag | 'false |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | |||
Current assets: | ' | ' | ' |
Cash and cash equivalents | $61,900 | $61,110 | $31,610 |
Receivables: | ' | ' | ' |
Trade | 64,715 | 66,196 | 60,037 |
Contractual third-party reclamation receivables | 8,213 | 8,487 | 10,207 |
Other | 1,375 | 5,086 | 3,220 |
Total receivables | 74,303 | 79,769 | 73,464 |
Inventories | 35,447 | 39,972 | 37,734 |
Restricted investments and bond collateral | 16,900 | 5,998 | 0 |
Other current assets | 16,643 | 18,190 | 16,504 |
Total current assets | 205,193 | 205,039 | 159,312 |
Property, plant and equipment: | ' | ' | ' |
Land and mineral rights | 278,198 | 278,188 | 261,741 |
Plant and equipment | 673,189 | 657,696 | 635,720 |
Gross property, plant and equipment | 951,387 | 935,884 | 897,461 |
Less accumulated depreciation, depletion and amortization | 461,754 | 445,848 | 384,621 |
Net property, plant and equipment | 489,633 | 490,036 | 512,840 |
Advanced coal royalties | 7,263 | 7,311 | 4,316 |
Reclamation deposits | 75,315 | 74,921 | 72,718 |
Restricted investments and bond collateral | 523,483 | 69,235 | 87,209 |
Contractual third-party reclamation receivables, less current portion | 88,036 | 88,303 | 84,158 |
Intangible assets, net of accumulated amortization of $14.1 million and $12.4 million at December 31, 2013 and December 31, 2012, respectively | 1,099 | 1,520 | 3,203 |
Other assets | 17,125 | 10,320 | 12,359 |
Total Assets | 1,407,147 | 946,685 | 936,115 |
Current liabilities: | ' | ' | ' |
Current installments of long-term debt | 48,586 | 44,343 | 23,791 |
Accounts payable and accrued expenses: | ' | ' | ' |
Trade | 62,598 | 57,507 | 52,093 |
Production Taxes | 46,794 | 41,905 | 33,228 |
Workers' compensation | 712 | 717 | 820 |
Postretirement medical benefits | 13,955 | 13,955 | 14,068 |
SERP | 390 | 390 | 390 |
Deferred revenue | 16,034 | 14,068 | 12,822 |
Asset retirement obligations | 22,227 | 23,353 | 22,238 |
Other current liabilities | 24,390 | 16,790 | 11,462 |
Total current liabilities | 235,686 | 213,028 | 170,912 |
Long-term debt, less current installments | 751,645 | 295,494 | 337,198 |
Workers' compensation, less current portion | 6,680 | 6,744 | 8,710 |
Excess of black lung benefit obligation over trust assets | 9,376 | 8,675 | 8,356 |
Postretirement medical benefits, less current portion | 271,275 | 270,374 | 319,775 |
Pension and SERP obligations, less current portion | 23,524 | 24,176 | 54,250 |
Deferred revenue, less current portion | 43,299 | 46,567 | 56,891 |
Asset retirement obligations, less current portion | 259,036 | 256,511 | 241,609 |
Intangible liabilities, net of accumulated amortization of $12.4 million at December 31, 2013 and $11.4 million at December 31, 2012, respectively | 5,339 | 5,606 | 6,625 |
Other liabilities | 7,503 | 7,389 | 18,020 |
Total liabilities | 1,613,363 | 1,134,564 | 1,222,346 |
Shareholders' deficit: | ' | ' | ' |
Preferred stock of $1.00 par value Authorized 5,000,000 shares; Issued and outstanding 159,960 shares at December 31, 2013 and 2012 | 121 | 160 | 160 |
Common stock of $2.50 par value Authorized 30,000,000 shares; Issued and outstanding 14,592,231 shares at December 31, 2013, and 14,201,411 shares at December 31, 2012, respectively | 37,155 | 36,479 | 35,502 |
Other paid-in capital | 134,952 | 134,861 | 130,852 |
Accumulated other comprehensive loss | -63,369 | -63,595 | -148,345 |
Accumulated deficit | -315,075 | -295,784 | -289,727 |
Total Westmoreland Coal Company shareholders' deficit | -206,216 | -187,879 | -271,558 |
Noncontrolling interest | ' | 0 | -14,673 |
Total deficit | -206,216 | -187,879 | -286,231 |
Total Liabilities and Shareholders' Deficit | $1,407,147 | $946,685 | $936,115 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, except Share data, unless otherwise specified | |||
Statement of Financial Position [Abstract] | ' | ' | ' |
Intangible assets, accumulated amortization | $14.50 | $14.10 | $12.40 |
Intangible liabilities, accumulated amortization | $12.70 | $12.40 | $11.40 |
Preferred stock, par value (in USD per share) | $1 | $1 | $1 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 | 5,000,000 |
Preferred stock, shares issued | 121,223 | 159,960 | 159,960 |
Preferred stock, shares outstanding | 121,223 | 159,960 | 159,960 |
Common stock, par value (in USD per share) | $2.50 | $2.50 | $2.50 |
Common stock, shares authorized | 30,000,000 | 30,000,000 | 30,000,000 |
Common stock, shares issued | 14,862,595 | 14,592,231 | 14,201,411 |
Common stock, shares outstanding | 14,862,595 | 14,592,231 | 14,201,411 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (USD $) | 3 Months Ended | 12 Months Ended | |||
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Statement [Abstract] | ' | ' | ' | ' | ' |
Revenues | $180,202 | $161,448 | $674,686 | $600,437 | $501,713 |
Costs, expenses and other: | ' | ' | ' | ' | ' |
Cost of sales | 138,630 | 130,421 | 535,320 | 466,521 | 392,787 |
Depreciation, depletion and amortization | 16,059 | 14,426 | 67,231 | 57,145 | 45,594 |
Selling and administrative | 13,331 | 11,887 | 50,721 | 49,908 | 40,276 |
Heritage health benefit expenses | 3,544 | 3,951 | 13,418 | 13,388 | 18,575 |
Loss (gain) on sales of assets | 38 | -234 | -74 | 528 | 640 |
Restructuring charges | 397 | 0 | 5,078 | 0 | 0 |
Other operating income | 150 | -4,737 | -22,370 | -15,925 | -6,785 |
Total costs, expenses and other | 172,149 | 155,714 | 649,324 | 571,565 | 491,087 |
Operating income | 8,053 | 5,734 | 25,362 | 28,872 | 10,626 |
Other income (expense): | ' | ' | ' | ' | ' |
Interest expense | -20,798 | -10,160 | -39,937 | -42,677 | -29,769 |
Loss on extinguishment of debt | ' | ' | -64 | -1,986 | -17,030 |
Interest income | 302 | 297 | 1,366 | 1,496 | 1,444 |
Other income (loss) | 93 | 70 | 364 | 723 | -2,572 |
Total other income (expense) | -27,193 | -9,793 | -38,271 | -42,444 | -47,927 |
Loss before income taxes | -19,140 | -4,059 | -12,909 | -13,572 | -37,301 |
Income tax expense (benefit) | -110 | 28 | -4,782 | 90 | -426 |
Net loss | -19,030 | -4,087 | -8,127 | -13,662 | -36,875 |
Less net loss attributable to noncontrolling interest | 0 | -1,702 | -3,430 | -6,436 | -3,775 |
Net loss attributable to the Parent company | -19,030 | -2,385 | -4,697 | -7,226 | -33,100 |
Less preferred stock dividend requirements | 261 | 340 | 1,360 | 1,360 | 1,360 |
Net loss applicable to common shareholders | ($19,291) | ($2,725) | ($6,057) | ($8,586) | ($34,460) |
Net income (loss) per share applicable to common shareholders: | ' | ' | ' | ' | ' |
Basic and diluted (in dollars per share) | ($1.30) | ($0.19) | ($0.42) | ($0.61) | ($2.61) |
Weighted average number of common shares outstanding: | ' | ' | ' | ' | ' |
Basic and diluted (in shares) | 14,787 | 14,282 | 14,491 | 14,033 | 13,192 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (Loss) (USD $) | 3 Months Ended | 12 Months Ended | |||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Statement of Comprehensive Income [Abstract] | ' | ' | ' | ' | ' |
Net loss | ($19,030) | ($4,087) | ($8,127) | ($13,662) | ($36,875) |
Other comprehensive income (loss): | ' | ' | ' | ' | ' |
Amortization of accumulated actuarial gains or losses, pension | 359 | 741 | 3,490 | 2,960 | 1,647 |
Adjustments to accumulated actuarial losses and transition obligations, pension | ' | ' | 28,974 | -9,812 | -15,798 |
Amortization of accumulated actuarial gains or losses, transition obligations, and prior service costs, postretirement medical benefit | 5 | 1,001 | 4,005 | 2,572 | -288 |
Adjustments to accumulated actuarial gains and transition obligations, postretirement medical benefits | ' | ' | 53,230 | -22,342 | -49,136 |
Tax effect of other comprehensive income gains | -138 | 0 | -4,892 | 0 | 0 |
Unrealized and realized gains and losses on available-for-sale securities | ' | ' | -57 | -268 | -200 |
Other comprehensive income (loss) | 226 | 1,742 | 84,750 | -26,890 | -63,775 |
Comprehensive income (loss) attributable to Westmoreland Coal Company | ($18,804) | ($2,345) | $76,623 | ($40,552) | ($100,650) |
Consolidated_Statements_of_Sha
Consolidated Statements of Shareholders' Deficit (USD $) | Total | Preferred Stock | Common Stock | Other Paid-in Capital | Accumulated Other Comprehensive Loss | Accumulated Deficit | Non-controlling Interest |
Beginning balance at Dec. 31, 2010 | ($162,355,000) | $160,000 | $27,901,000 | $98,466,000 | ($57,680,000) | ($226,740,000) | ($4,462,000) |
Beginning balance, shares at Dec. 31, 2010 | ' | 160,129 | 11,160,798 | ' | ' | ' | ' |
Preferred dividends declared | -21,301,000 | ' | ' | ' | ' | -21,301,000 | ' |
Common stock issued as compensation | 4,721,000 | ' | 600,000 | 4,121,000 | ' | ' | ' |
Common stock issued as compensation, shares | ' | ' | 240,118 | ' | ' | ' | ' |
Common stock options exercised | 422,000 | ' | 78,000 | 344,000 | ' | ' | ' |
Exercised (in shares) | ' | ' | -31,200 | ' | ' | ' | ' |
Conversion of convertible notes and securities | 25,485,000 | ' | 4,698,000 | 20,787,000 | ' | ' | ' |
Conversion of convertible notes and securities, shares | ' | -169 | 1,879,098 | ' | ' | ' | ' |
Common stock issued to pension plans assets | 4,257,000 | ' | 1,125,000 | 3,132,000 | ' | ' | ' |
Common stock issued to pension plans assets, shares | ' | ' | 450,000 | ' | ' | ' | ' |
Issuance of restricted stock | -437,000 | ' | 125,000 | -562,000 | ' | ' | ' |
Issuance of restricted stock, shares | ' | ' | 50,165 | ' | ' | ' | ' |
Net loss | -36,875,000 | ' | ' | ' | ' | -33,100,000 | -3,775,000 |
Other comprehensive loss | -63,775,000 | ' | ' | ' | -63,775,000 | ' | ' |
Ending balance at Dec. 31, 2011 | -249,858,000 | 160,000 | 34,527,000 | 126,288,000 | -121,455,000 | -281,141,000 | -8,237,000 |
Ending balance, shares at Dec. 31, 2011 | ' | 159,960 | 13,811,379 | ' | ' | ' | ' |
Preferred dividends declared | -1,360,000 | ' | ' | ' | ' | -1,360,000 | ' |
Common stock issued as compensation | 6,040,000 | ' | 808,000 | 5,232,000 | ' | ' | ' |
Common stock issued as compensation, shares | ' | ' | 323,432 | ' | ' | ' | ' |
Issuance of restricted stock | -501,000 | ' | 167,000 | -668,000 | ' | ' | ' |
Issuance of restricted stock, shares | ' | ' | 66,600 | ' | ' | ' | ' |
Net loss | -13,662,000 | ' | ' | ' | ' | -7,226,000 | -6,436,000 |
Other comprehensive loss | -26,890,000 | ' | ' | ' | -26,890,000 | ' | ' |
Ending balance at Dec. 31, 2012 | -286,231,000 | 160,000 | 35,502,000 | 130,852,000 | -148,345,000 | -289,727,000 | -14,673,000 |
Ending balance, shares at Dec. 31, 2012 | ' | 159,960 | 14,201,411 | ' | ' | ' | ' |
Preferred dividends declared | -1,360,000 | ' | ' | ' | ' | -1,360,000 | ' |
Common stock issued as compensation | 5,322,000 | ' | 560,000 | 4,762,000 | ' | ' | ' |
Common stock issued as compensation, shares | ' | ' | 224,129 | ' | ' | ' | ' |
Issuance of restricted stock | -336,000 | ' | 417,000 | -753,000 | ' | ' | ' |
Issuance of restricted stock, shares | ' | ' | 166,691 | ' | ' | ' | ' |
Net loss | -8,127,000 | ' | ' | ' | ' | -4,697,000 | -3,430,000 |
Assumption of noncontrolling interest of subsidiary | 18,103,000 | ' | ' | ' | ' | ' | 18,103,000 |
Other comprehensive loss | 84,750,000 | ' | ' | ' | 84,750,000 | ' | ' |
Ending balance at Dec. 31, 2013 | -187,879,000 | 160,000 | 36,479,000 | 134,861,000 | -63,595,000 | -295,784,000 | 0 |
Ending balance, shares at Dec. 31, 2013 | ' | 159,960 | 14,592,231 | ' | ' | ' | ' |
Preferred dividends declared | -261,000 | ' | ' | ' | ' | -261,000 | ' |
Common stock issued as compensation | 728,000 | ' | 0 | 728,000 | ' | ' | ' |
Common stock issued as compensation, shares | ' | ' | 0 | ' | ' | ' | ' |
Conversion of convertible notes and securities | 0 | -39,000 | 662,000 | -623,000 | ' | ' | ' |
Conversion of convertible notes and securities, shares | ' | -38,737 | 264,641 | ' | ' | ' | ' |
SARs exercised | 0 | ' | 14,000 | -14,000 | ' | ' | ' |
SARs exercised, shares | ' | ' | 5,723 | ' | ' | ' | ' |
Net loss | -19,030,000 | ' | ' | ' | ' | -19,030,000 | ' |
Other comprehensive loss | 226,000 | ' | ' | ' | 226,000 | ' | ' |
Ending balance at Mar. 31, 2014 | ($206,216,000) | $121,000 | $37,155,000 | $134,952,000 | ($63,369,000) | ($315,075,000) | ' |
Ending balance, shares at Mar. 31, 2014 | ' | 121,223 | 14,862,595 | ' | ' | ' | ' |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Cash flows from operating activities: | ' | ' | ' |
Net loss | ($8,127) | ($13,662) | ($36,875) |
Adjustments to reconcile net loss to net cash provided by operating activities: | ' | ' | ' |
Depreciation, depletion and amortization | 67,231 | 57,145 | 45,594 |
Accretion of asset retirement obligation and receivable | 12,681 | 12,189 | 10,878 |
Non-cash tax benefits | -4,892 | 0 | 0 |
Amortization of intangible assets and liabilities, net | 665 | 658 | 657 |
Share-based compensation | 5,322 | 6,040 | 4,721 |
Loss (gain) on sales of assets | -74 | 528 | 640 |
Amortization of deferred financing costs | 3,731 | 4,358 | 2,515 |
Other | -1,001 | 0 | 0 |
Loss on extinguishment of debt | 64 | 1,986 | 17,030 |
Gain on sales of investment securities | -3 | -165 | -150 |
Loss on derivative instruments | 0 | 0 | 3,079 |
Changes in operating assets and liabilities: | ' | ' | ' |
Receivables, net | -7,636 | -12,855 | 5,491 |
Inventories | -2,512 | -2,164 | -2,125 |
Excess of black lung benefit obligation over trust assets | 319 | 1,791 | 4,319 |
Accounts payable and accrued expenses | 13,579 | 17,399 | 4,128 |
Deferred revenue | -9,078 | -8,198 | -9,918 |
Income tax payable | -1 | 0 | 0 |
Accrual for workers' compensation | -2,069 | -2,096 | 1,248 |
Asset retirement obligation | -9,410 | -6,943 | -6,510 |
Accrual for postretirement medical benefits | 7,721 | 6,191 | -1,643 |
Pension and SERP obligations | 2,388 | 2,802 | -1,278 |
Other assets and liabilities | 11,819 | -7,860 | 2,934 |
Net cash provided by (used in) operating activities | 80,717 | 57,144 | 44,735 |
Cash flows from investing activities: | ' | ' | ' |
Additions to property, plant and equipment | -28,591 | -21,032 | -27,594 |
Change in restricted investments and bond collateral and reclamation deposits | 1,434 | -33,892 | -5,986 |
Cash payments related to acquisitions and other | 0 | -72,522 | -4,000 |
Net proceeds from sales of assets | 902 | 480 | 687 |
Proceeds from sale of restricted investments | 8,287 | 4,106 | 3,350 |
Receivable from customer for property and equipment purchases | -389 | -674 | -96 |
Other | -3,540 | 0 | 0 |
Net cash provided by (used in) investing activities | -21,897 | -123,534 | -33,639 |
Cash flows from financing activities: | ' | ' | ' |
Change in book overdrafts | 310 | -253 | -724 |
Borrowings from long-term debt, net of debt discount | 0 | 119,364 | 142,500 |
Repayments of long-term debt | -28,088 | -44,846 | -73,566 |
Borrowings on revolving lines of credit | 7,000 | 16,500 | 87,200 |
Repayments of revolving lines of credit | -7,000 | -16,500 | -105,600 |
Debt issuance and other refinancing costs | -182 | -5,688 | -15,019 |
Preferred dividends paid | -1,360 | -1,360 | -21,301 |
Exercise of stock options | 0 | 0 | 422 |
Net cash provided by (used in) financing activities | -29,320 | 67,217 | 13,912 |
Net increase in cash and cash equivalents | 29,500 | 827 | 25,008 |
Cash and cash equivalents, beginning of year | 31,610 | 30,783 | 5,775 |
Cash and cash equivalents, end of year | 61,110 | 31,610 | 30,783 |
Supplemental disclosures of cash flow information: | ' | ' | ' |
Cash paid for interest | 36,252 | 34,380 | 21,199 |
Cash paid (received) for income taxes | 111 | -73 | -250 |
Non-cash transactions: | ' | ' | ' |
Accrued purchaes of property and equipment | 1,112 | 634 | 570 |
Capital leases and other financing sources | $5,371 | $1,828 | $531 |
BASIS_OF_PRESENTATION
BASIS OF PRESENTATION | 3 Months Ended | ||||||||||||||
Mar. 31, 2014 | |||||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||||
BASIS OF PRESENTATION | ' | ||||||||||||||
BASIS OF PRESENTATION | |||||||||||||||
The accompanying unaudited consolidated financial statements include accounts of Westmoreland Coal Company, or the Company, or Parent, and its subsidiaries and controlled entities. The Company’s current principal activities, all conducted within the United States, are the production and sale of coal from its mines in Montana, Wyoming, North Dakota and Texas, and the ownership of the Roanoke Valley power plants, or ROVA, in North Carolina. The Company’s activities are primarily conducted through wholly owned subsidiaries. All intercompany transactions and accounts have been eliminated in consolidation. | |||||||||||||||
The Company’s Kemmerer Mine is owned by its subsidiary Westmoreland Kemmerer, Inc., or Kemmerer. The Company’s Absaloka Mine is owned by its subsidiary Westmoreland Resources, Inc., or WRI. The Beulah, Jewett, Rosebud, and Savage Mines are owned through the Company’s subsidiary Westmoreland Mining LLC, or WML. | |||||||||||||||
The consolidated financial statements of the Company have been prepared in accordance with United States generally accepted accounting principles and require use of management’s estimates. The financial information contained in this Form 10-Q is unaudited, but reflects all adjustments, which are, in the opinion of management, necessary for a fair presentation of the financial information for the periods shown. Such adjustments are of a normal recurring nature. The results of operations for the three months ended March 31, 2014 are not necessarily indicative of results to be expected for the year ending December 31, 2014. | |||||||||||||||
These quarterly consolidated financial statements should be read in conjunction with the consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013, or the 2013 Form 10-K. The accounting principles followed by the Company are set forth in the Notes to the Company’s consolidated financial statements in its 2013 Form 10-K. Most of the descriptions of the accounting principles and other footnote disclosures previously made have been omitted in this report so long as the interim information presented is not misleading or inconsistent. | |||||||||||||||
Sherritt Acquisition | |||||||||||||||
On December 24, 2013, the Company entered into an agreement to acquire the coal operations of Sherritt International Corporation, or Sherritt, which consist of its Prairie and Mountain coal mining operations, collectively referred to as the Sherritt Acquisition. These operations include seven producing thermal coal mines in the Canadian provinces of Alberta and Saskatchewan, a 50% interest in an activated carbon plant and a Char production facility. The preliminary purchase price of $435 million will be made up of $293 million of cash consideration and the assumption of an estimated $142 million of capital lease liabilities, subject to certain adjustments provided for in the agreement, relating to, among other things, working capital, indebtedness, pension plan funding and coal inventory. Acquisition and financing costs of $18.1 million have been expensed for the three months ended March 31, 2014; which includes $6.8 million of loss on foreign exchange as described in Note 8, $6.1 million of interest expense on the New Notes as described in Note 4, $4.9 million included in Interest expense related to a bridge facility commitment fee, and $0.3 million of other expenses included in Selling and administrative costs. The Company expects this acquisition to be completed during the second quarter of 2014. | |||||||||||||||
Debt Obligations | |||||||||||||||
The Company is subject to three major debt arrangements: (1) $81.0 million in aggregate principal amount of senior secured notes at WML that are collateralized by all assets of WML, Westmoreland Savage Corporation, or WSC, Western Energy Company, or WECO, and Dakota Westmoreland Corporation, or DWC; and (2) $251.5 million in aggregate principal amount of senior secured notes at the Parent level that are collateralized by the assets of the Parent, WRI, Kemmerer and ROVA; and (3) $425.0 million in aggregate principal amount of 10.75% senior secured notes, referred to as the New Notes, which are also collateralized by the assets of the Parent, WRI, Kemmerer and ROVA. The proceeds from the New Notes will be used primarily to pay the purchase price and related expenses for the Sherritt Acquisition, to prepay the outstanding senior secured notes issued of WML debt, and for working capital. The proceeds are being held in escrow pending the completion of the Sherritt Acquisition. See Note 4 for additional details. | |||||||||||||||
Business Interruption Insurance | |||||||||||||||
The Company received business interruption insurance proceeds for the three months ended March 31, 2014 due to an explosion and subsequent fire at a customer’s facility that occurred in November 2011. Operations at that facility resumed during October 2013. The Company recognizes income as business interruption losses are incurred and reimbursement is virtually assured. The Company reports this income in Other operating income and recognized nil and $4.8 million of income for the three months ended March 31, 2014 and 2013, respectively. The Company received $4.6 million of cash proceeds for the three months ended March 31, 2014 related to income recorded in 2013. Insurance proceeds are included in Net cash provided by operating activities. As of March 31, 2014, the Company has collected all cash proceeds related to income recognized. | |||||||||||||||
Derivatives | |||||||||||||||
The Company utilized foreign exchange derivatives to manage exposure to fluctuations in the exchange rates of the Canadian dollar regarding the Sherritt acquisition. The Company does not utilize derivative financial instruments for trading purposes or for speculative purposes. The Company's derivative instruments are recorded on the Consolidated Balance Sheets in Other current assets and Other current liabilities at fair value with changes in fair value recognized in the statement of operations at the end of each period in Loss on foreign exchange. | |||||||||||||||
Income Taxes | |||||||||||||||
The difference between the statutory income tax rate and the effective income tax rate is due to a change in the valuation allowance recorded against the net deferred tax assets. | |||||||||||||||
Restructuring Charges | |||||||||||||||
In 2013, the Company entered into an agreement with Dominion Virginia Power, a subsidiary of Dominion, to restructure the remaining five years of the ROVA I and ROVA II contracts. During the first quarter of 2014, the Company recorded a restructuring charge of $0.4 million for additional contractual obligations. The Company expects that the $5.1 million of accruals will be paid out in the second quarter of 2014. | |||||||||||||||
The table below represents the restructuring provision activity during the three months ended March 31, 2014 (in millions): | |||||||||||||||
Beginning Balance | Restructuring Charges | Restructuring Payments | Ending Balance | ||||||||||||
$ | 5.1 | $ | 0.4 | $ | 0.4 | $ | 5.1 | ||||||||
Recently Adopted Accounting Pronouncements | |||||||||||||||
The Company did not adopt any new accounting pronouncements during the three months ended March 31, 2014. |
SUMMARY_OF_SIGNIFICANT_ACCOUNT
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended | ||||||||||||||
Dec. 31, 2013 | |||||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||||
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ' | ||||||||||||||
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |||||||||||||||
Nature of Operations | |||||||||||||||
Westmoreland Coal Company, or the Company, Westmoreland, WCC, or the Parent, is an energy company. The Company’s current principal activities, all conducted within the United States, are the production and sale of coal from its mines in Montana, Wyoming, North Dakota and Texas; and the ownership of power plants in North Carolina. The Company’s activities are primarily conducted through wholly owned subsidiaries. | |||||||||||||||
The Company's Kemmerer Mine is owned by its subsidiary Westmoreland Kemmerer, Inc., or Kemmerer. The Company’s Absaloka Mine is owned by its wholly owned subsidiary Westmoreland Resources, Inc., or WRI. The right to mine coal at the Absaloka Mine had been subleased to an affiliated entity whose operations the Company controls, under which the sublease expired December 31, 2013; and as a result the right to mine coal at the Absaloka Mine reverts to WRI beginning in 2014. The Rosebud, Jewett, Beulah and Savage Mines are owned through the Company’s wholly owned subsidiary Westmoreland Mining LLC, or WML. | |||||||||||||||
Sherritt Acquisition | |||||||||||||||
On December 24, 2013, the Company entered into an agreement to acquire the coal operations of Sherritt International Corporation, or Sherritt, which consist of its Prairie and Mountain coal mining operations. These operations included seven producing thermal coal mines in the Canadian provinces of Alberta and Saskatchewan, a 50% interest in an activated carbon plant and a Char production facility. The purchase price of $435.0 million will be made up of $293.0 million of cash consideration and the assumption of an estimated $142 million of capital lease liabilities, subject to certain adjustments provided for in the agreement, relating to, among other things, working capital, indebtedness, pension plan funding and coal inventory. Acquisition-related costs of $2.9 million have been expensed for the year ended December 31, 2013, and are included in Selling and administrative costs. The Company expects this acquisition to be completed by the end of the first quarter of 2014. | |||||||||||||||
On February 7, 2014, the Company closed on a private offering of $425.0 million in aggregate principal amount of 10.75% Senior Secured Notes due 2018 at a price of 106.875% plus accrued interest from February 1, 2014; referred to as the New Notes. The net proceeds of the offering of the new notes will finance the approximately $293 million cash portion of the purchase price, an estimated $58 million to satisfy the cash bonding obligations for the Sherritt mines and cash transaction costs associated with the acquisition and this offering of new notes of approximately $26.0 million. The remaining balance of the proceeds will be used to fund the prepayment of the WML Notes and for other general corporate purposes. The proceeds will be held in escrow pending the completion of the acquisition. | |||||||||||||||
In connection with the acquisition, the Company intends to amend the existing corporate revolving credit agreement to increase the maximum available borrowing amount to approximately $60 - $70 million (which the Company may increase to $100 million at their discretion), with a subfacility for letters of credit in an amount of up to $30 million. The acquisition is not contingent on the Company increasing such available borrowing capacity and it is possible that such increase will not be implemented until after the consummation of the acquisition. | |||||||||||||||
Consolidation Policy | |||||||||||||||
The Consolidated Financial Statements of Westmoreland Coal Company include the accounts of the Company and its controlled subsidiaries. The Company consolidates any variable interest entity, or VIE, for which the Company is considered the primary beneficiary. The Company provides for noncontrolling interests in consolidated subsidiaries, in which the Company’s ownership is less than 100 percent. All intercompany accounts and transactions have been eliminated. | |||||||||||||||
A VIE is an entity that is unable to make significant decisions about its activities or does not have the obligation to absorb losses or the right to receive returns generated by its operations. If the entity meets one of these characteristics, then the Company must determine if it is the primary beneficiary of the VIE. The party exposed to the majority of the risks and rewards with the VIE is the primary beneficiary and must consolidate the entity. | |||||||||||||||
The Company has determined for all periods presented, it was the primary beneficiary in Absaloka Coal LLC, a VIE, in which it held less than a 50% ownership through December 31, 2013. As a result, the Company has consolidated this entity within the coal segment. The investment in Absaloka Coal LLC by its outside partner did not continue after December 31, 2013, and beginning in 2014, Absaloka Coal LLC will be 100% owned by the Company, but will cease to have operations. As a result, the Company has unwound the transaction as of December 31, 2013 and concerning our balance sheet have decreased Other liabilities by $19.1 million and decreased Noncontrolling interest by $18.1 million. As a result, as of December 31, 2013, the noncontrolling interest was eliminated. | |||||||||||||||
Use of Estimates | |||||||||||||||
The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. | |||||||||||||||
Cash and Cash Equivalents | |||||||||||||||
Cash and cash equivalents are stated at cost, which approximate fair value. Cash equivalents consist of highly liquid investments with original maturities of three months or less. | |||||||||||||||
Trade Receivables | |||||||||||||||
Trade receivables are recorded at the invoiced amount and do not bear interest. The Company evaluates the need for an allowance for doubtful accounts based on a review of collectability. The Company has determined that no allowance is necessary for trade receivables as of December 31, 2013 and 2012. | |||||||||||||||
Inventories | |||||||||||||||
Inventories, which include materials and supplies as well as raw coal, are stated at the lower of cost or market. Cost is determined using the average cost method. Coal inventory costs include labor, supplies, equipment, operating overhead and other related costs. | |||||||||||||||
Exploration and Mine Development | |||||||||||||||
Exploration expenditures are charged to Cost of sales as incurred, including costs related to drilling and study costs incurred to convert or upgrade mineral resources to reserves. | |||||||||||||||
At existing surface operations, additional pits may be added to increase production capacity in order to meet customer requirements. These expansions may require significant capital to purchase additional equipment, relocate equipment, build or improve existing haul roads and create the initial pre-production box cut to remove overburden for new pits at existing operations. If these pits operate in a separate and distinct area of the mine, the costs associated with initially uncovering coal for production are capitalized and amortized over the life of the developed pit consistent with coal industry practices. Once production has begun, mining costs are then expensed as incurred. | |||||||||||||||
Where new pits are routinely developed as part of a contiguous mining sequence, the Company expenses such costs as incurred. The development of a contiguous pit typically reflects the planned progression of an existing pit, thus maintaining production levels from the same mining area utilizing the same employee group and equipment. | |||||||||||||||
Property, Plant and Equipment | |||||||||||||||
Property, plant and equipment are recorded at cost and includes long-term spare parts inventory. Expenditures that extend the useful lives of existing plant and equipment or increase productivity of the assets are capitalized. Maintenance and repair costs that do not extend the useful life or increase productivity of the asset are expensed as incurred. Coal reserves are recorded at cost, or at fair value originally in the case of acquired businesses. | |||||||||||||||
Coal reserves, mineral rights and mine development costs are depleted based upon estimated recoverable proven and probable reserves. Plant and equipment are depreciated on a straight-line basis over the assets’ estimated useful lives as follows: | |||||||||||||||
Years | |||||||||||||||
Buildings and improvements | 15 to 30 | ||||||||||||||
Machinery and equipment | 3 to 36 | ||||||||||||||
Long-term spare parts inventory begins depreciation when placed in service. | |||||||||||||||
The Company assesses the carrying value of its property, plant and equipment for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability is measured by comparing estimated undiscounted cash flows expected to be generated from such assets to their net book value. If net book value exceeds estimated cash flows, the asset is written down to fair value. When an asset is retired or sold, its cost and related accumulated depreciation and depletion are removed from the accounts. The difference between the net book value of the asset and proceeds on disposition is recorded as a gain or loss. Fully depreciated plant and equipment still in use is not eliminated from the accounts. Amortization of capital leases is included in Depreciation, depletion and amortization. | |||||||||||||||
Reclamation Deposits and Contractual Third-Party Reclamation Receivables | |||||||||||||||
Certain of the Company’s customers have either agreed to reimburse the Company for reclamation expenditures as they are incurred or have pre-funded a portion of the expected reclamation costs. Amounts received from customers and held on deposit are recorded as reclamation deposits. Amounts that are reimbursable by customers are recorded as third-party reclamation receivables when the related reclamation obligation is recorded. | |||||||||||||||
Financial Instruments | |||||||||||||||
The Company evaluates all of its financial instruments to determine if such instruments are derivatives, derivatives that qualify for the normal purchase normal sale exception or instruments that contain features that qualify them as embedded derivatives. Except for derivatives that qualify for the normal purchase normal sale exception, all derivative financial instruments are recognized in the balance sheet at fair value. Changes in fair value are recognized in earnings if they are not eligible for hedge accounting or Accumulated other comprehensive income (loss) if they qualify for cash flow hedge accounting. | |||||||||||||||
Held-to-maturity financial instruments consist of non-derivative financial assets with fixed or determinable payments and a fixed term, which the Company has the ability and intent to hold until maturity, and, therefore, accounts for them as held-to-maturity securities. Held-to-maturity securities are recorded at amortized cost, adjusted for the amortization or accretion of premiums or discounts calculated on the effective interest method. Interest income is recognized when earned. | |||||||||||||||
The Company has securities classified as available-for-sale, which are recorded at fair value. The changes in fair values are recorded as unrealized gains (losses) as a component of Accumulated other comprehensive income (loss) in shareholders’ deficit. | |||||||||||||||
The Company reviews its securities routinely for other-than-temporary impairment. The primary factors used to determine if an impairment charge must be recorded because a decline in value of the security is other than temporary include (i) whether the fair value of the investment is significantly below its cost basis, (ii) the financial condition of the issuer of the security, (iii) the length of time that the cost of the security has exceeded its fair value and (iv) the Company’s intent and ability to retain the investment for a period of time sufficient to allow for any anticipated recovery in market value. Other-than-temporary impairments are recorded as a component of Other income (expense). | |||||||||||||||
Fair Value | |||||||||||||||
Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at a given measurement date. Valuation techniques used must maximize the use of observable inputs and minimize the use of unobservable inputs. | |||||||||||||||
Fair value hierarchy prioritizes the inputs to valuation techniques used to measure fair value and is defined as: | |||||||||||||||
• | Level 1, defined as observable inputs such as quoted prices in active markets for identical assets. Level 1 assets include available-for-sale equity securities generally valued based on independent third-party market prices. | ||||||||||||||
• | Level 2, 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. | ||||||||||||||
• | Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. | ||||||||||||||
The Company’s non-recurring fair value measurements include asset retirement obligations and the purchase price allocations for the fair value of assets and liabilities acquired through business combinations. | |||||||||||||||
The Company determines the estimated fair value of its asset retirement obligations by calculating the present value of estimated cash flows related to reclamation liabilities using level 3 inputs. The significant inputs used to calculate such liabilities includes estimates of costs to be incurred, the Company’s credit adjusted discount rate, inflation rates and estimated dates of reclamation. The asset retirement liability is accreted to its present value each period and the associated mineral rights are depleted using the units-of-production method. | |||||||||||||||
The fair value of assets and liabilities acquired through business combinations is calculated using a discounted-cash flow approach using level 3 inputs. Cash flow estimates require forecasts and assumptions for many years into the future for a variety of factors. | |||||||||||||||
See Notes 4, 7, 9, 10 and 11 for further disclosures related to the Company’s fair value estimates. | |||||||||||||||
Intangible Assets and Liabilities | |||||||||||||||
Identifiable intangible assets or liabilities acquired in a business combination must be recognized and reported separately from goodwill. The Company has determined that its most significant acquired identifiable intangible assets and liabilities are related to sales and purchase agreements. Intangible assets result from more favorable market prices than contracted prices in sales and purchase agreements as measured during a business combination. Intangible liabilities result from less favorable market prices than contracted prices in sales and purchase agreements as measured during a business combination. The majority of these intangible assets and liabilities are amortized on a straight-line basis over the respective period of the sales and purchase agreements, while the remainder are amortized on a unit-of-production basis. | |||||||||||||||
Amortization of intangible assets recognized in Cost of sales was $1.7 million in 2013, 2012, and 2011. Amortization of intangible liabilities recognized in Revenues was $1.0 million in 2013, 2012, and 2011. | |||||||||||||||
The estimated aggregate amortization amounts from intangibles assets and liabilities for each of the next five years as of December 31, 2013 are as follows: | |||||||||||||||
Amortization | |||||||||||||||
Expense | |||||||||||||||
(Revenue) | |||||||||||||||
(In thousands) | |||||||||||||||
2014 | $ | 17 | |||||||||||||
2015 | (791 | ) | |||||||||||||
2016 | (953 | ) | |||||||||||||
2017 | (953 | ) | |||||||||||||
2018 | (953 | ) | |||||||||||||
Workers’ Compensation Benefits | |||||||||||||||
The Company is self-insured for workers’ compensation claims incurred prior to 1996. The liabilities for workers’ compensation claims are actuarially determined estimates of the ultimate losses incurred based on the Company’s experience. Adjustments to the probable ultimate liabilities are made annually based on subsequent developments and experience and are included in operations at the time of the revised estimate. | |||||||||||||||
The Company insures its current employees through third-party insurance providers and state arrangements. | |||||||||||||||
Pneumoconiosis (Black Lung) Benefits | |||||||||||||||
The Company is self-insured for federal and state black lung benefits for former heritage employees and has established an independent trust to pay these benefits. The Company accounts for these benefits on the accrual basis. An independent actuary annually calculates the present value of the accumulated black lung obligation. The underfunded status in 2013 and 2012 of the Company’s obligation is included as Excess of black lung benefit obligation over trust assets in the accompanying consolidated balance sheets. Actuarial gains and losses are recognized in the period in which they arise. | |||||||||||||||
The Company insures its current represented employees through arrangements with its unions and its current non-represented employees are insured through third-party insurance providers. | |||||||||||||||
Postretirement Health Care Benefits | |||||||||||||||
The Company accrues the cost to provide the benefits over the employees’ period of active service for postretirement benefits other than pensions. These costs are determined on an actuarial basis. The Company’s consolidated balance sheet reflects the unfunded status of postretirement benefit obligations. | |||||||||||||||
Pension and SERP Plans | |||||||||||||||
The Company accrues the cost to provide the benefits over the employees’ period of active service for the non-contributory defined benefit pension and SERP plans it sponsors. These costs are determined on an actuarial basis. The Company’s consolidated balance sheet reflects the unfunded status of the defined benefit pension and SERP plans. | |||||||||||||||
Deferred Revenue | |||||||||||||||
Deferred revenues represent funding received upon the negotiation of long-term contracts. The deferred revenues for coal will be recognized as deliveries of the reserved coal are made in accordance with the long-term coal contracts. Deferred power revenues are recognized on a pro rata basis, based on the payments estimated to be received over the remaining term of the power sales agreements. | |||||||||||||||
Asset Retirement Obligations | |||||||||||||||
The Company’s asset retirement obligation, or ARO, liabilities primarily consist of estimated costs to reclaim surface land and support facilities at its mines and power plants in accordance with federal and state reclamation laws as established by each mining permit. | |||||||||||||||
The Company estimates its ARO liabilities for final reclamation and mine closure based upon detailed engineering calculations of the amount and timing of the future costs for a third party to perform the required work. These estimates are based on projected pit configurations at the end of mining and are escalated for inflation, and then discounted at a credit-adjusted risk-free rate. The Company records mineral rights associated with the initial recorded liability. Mineral rights are amortized based on the units of production method over the estimated recoverable, proven and probable reserves at the related mine, and the ARO liability is accreted to the projected settlement date. Changes in estimates could occur due to revisions of mine plans, changes in estimated costs, and changes in timing of the performance of reclamation activities. | |||||||||||||||
Income Taxes | |||||||||||||||
Deferred income taxes are provided for temporary differences arising from differences between the financial statement amount and tax basis of assets and liabilities existing at each balance sheet date using enacted tax rates anticipated to be in effect when the related taxes are expected to be paid or recovered. A valuation allowance is established if it is more likely than not that a deferred tax asset will not be realized. In determining the need for a valuation allowance, the Company considers projected realization of tax benefits based on expected levels of future taxable income, available tax planning strategies and its overall deferred tax position. | |||||||||||||||
Accounting guidance prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. Under this guidance, a company can recognize the benefit of an income tax position only if it is more likely than not (greater than 50%) that the tax position will be sustained upon tax examination, based solely on the technical merits of the tax position. Guidance is also provided on the derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. | |||||||||||||||
The Company includes interest and penalties related to income tax matters in Income tax expense. | |||||||||||||||
The tax effect of pretax income or loss from continuing operations is generally determined by a computation that does not consider the tax effects of items that are not included in continuing operations. The exception to that incremental approach is that all items (for example, items recorded in other comprehensive income, extraordinary items, and discontinued operations) be considered in determining the amount of tax benefit that results from a loss from continuing operations and that shall be allocated to continuing operations. | |||||||||||||||
Deferred Financing Costs | |||||||||||||||
The Company capitalizes costs incurred in connection with borrowings or establishment of credit facilities and issuance of debt securities. These costs are amortized as an adjustment to interest expense over the life of the borrowing or term of the credit facility using the effective interest method. These amounts are recorded in Other assets in the accompanying consolidated balance sheets. | |||||||||||||||
Coal Revenues | |||||||||||||||
The Company recognizes coal sales revenue at the time title passes to the customer in accordance with the terms of the underlying sales agreements and after any contingent performance obligations have been satisfied. Coal sales revenue is recognized based on the pricing contained in the contracts in place at the time that title passes. | |||||||||||||||
Power Revenues | |||||||||||||||
ROVA supplies power under long-term power sales agreements. Under these agreements, ROVA invoices and collects capacity payments based on kilowatt-hours produced if the units are dispatched or for the kilowatt-hours of available capacity if the units are not fully dispatched. | |||||||||||||||
A portion of the capacity payments under the agreements is considered to be an operating lease. The Company is recognizing amounts invoiced under the power sales agreements as revenue on a pro rata basis, based on the weighted average per kilowatt hour capacity payments estimated to be received over the remaining term of the power sales agreements. Under this method of recognizing revenue, $8.7 million and $8.3 million of previously deferred revenue was recognized during 2013 and 2012, respectively. | |||||||||||||||
On December 23, 2013, the Company entered into an agreement with Dominion Virginia Power, a subsidiary of Dominion, to restructure the remaining five years of the ROVA I and ROVA II contracts. From January 2014 through March 2019, the Company will keep ROVA ready to operate and expects to run the plants during high demand energy periods. The Company will additionally buy power from a power provider at a fixed price, and will supply Dominion that power. The Company can also operate the plant and sell power on the open market if it it chooses. | |||||||||||||||
The Company incurred restructuring charges of $5.1 million for the year ended December 31, 2013 primarily related to legal and consulting fees. The restructuring plan is expected to be complete by March 31, 2014. The Company expects that the aggregate $5.1 million of expenditures will be cash expenditures paid out in the first quarter of 2014. | |||||||||||||||
The table below represents the restructuring provision activity during the year ended December 31, 2013 (in millions): | |||||||||||||||
Beginning Balance | Restructuring Charges | Restructuring Payments | Ending Balance | ||||||||||||
$ | — | $ | 5.1 | $ | — | $ | 5.1 | ||||||||
Other Operating Income (Loss) | |||||||||||||||
Other operating income in the accompanying Consolidated Results of Operations reflects income from sources other than coal or power revenues. Income from the Company’s Indian Coal Tax Credit monetization transaction is recorded as Other operating income. The Company recognizes income as business interruption losses are incurred and reimbursement is virtually assured and has recognized $16.2 million and $17.3 million of income during 2013 and 2012, respectively; which is included in Other operating income. Insurance proceeds are included in Net cash provided by operating activities. | |||||||||||||||
Share-Based Compensation | |||||||||||||||
Share-based compensation expense is generally measured at the grant date and recognized as expense over the vesting period of the entire award. These costs are recorded in Cost of sales and Selling and administrative expenses in the accompanying consolidated results of operations. | |||||||||||||||
Earnings (Loss) per Share | |||||||||||||||
Basic earnings (loss) per share have been computed by dividing the net income (loss) applicable to common shareholders by the weighted average number of shares of common stock outstanding during each period. Net income (loss) applicable to common shareholders includes the adjustment for net income or loss attributable to noncontrolling interest. Diluted earnings (loss) per share is computed by including the dilutive effect of common stock that would be issued assuming conversion or exercise of outstanding convertible notes, stock options, stock appreciation rights, restricted stock and warrants. No such items were included in the computation of diluted loss per share for the years ended 2013, 2012 or 2011 because the Company incurred a loss from operations in each of these periods and the effect of inclusion would have been anti-dilutive. | |||||||||||||||
The table below shows the number of shares that were excluded from the calculation of diluted loss per share because their inclusion would be anti-dilutive to the calculation: | |||||||||||||||
Years Ended December 31, | |||||||||||||||
2013 | 2012 | 2011 | |||||||||||||
(In thousands) | |||||||||||||||
Convertible notes and securities | 1,093 | 1,093 | 1,093 | ||||||||||||
Restricted stock units, stock options, and SARs | 805 | 978 | 634 | ||||||||||||
Total shares excluded from diluted shares calculation | 1,898 | 2,071 | 1,727 | ||||||||||||
Recently Adopted Accounting Pronouncements | |||||||||||||||
Effective January 1, 2013, the Company adopted an accounting standards update which requires that companies present either in a single note or parenthetically on the face of the financial statements, the effect of significant amounts reclassified from each component of accumulated other comprehensive income based on its source and the income statement line items affected by the reclassification. If a component is not required to be reclassified to net income in its entirety, companies would instead cross reference to the related footnote for additional information. This accounting standards update only affects the Company's disclosures. | |||||||||||||||
Liquidity and Capital Resources | |||||||||||||||
The Parent is a holding company and conducts its operations through subsidiaries. The Parent has significant cash requirements to fund debt obligations, ongoing heritage health benefit costs, pension contributions, and corporate overhead expenses. The principal sources of cash flow to the Parent are distributions from principal operating subsidiaries. The cash at ROVA, Kemmerer, and WRI has no restrictions and is immediately available. The cash at WML is available to the Parent through quarterly distributions. The WML credit agreement requires a debt service account and imposes timing and other restrictions on the ability of WML to distribute funds to the Parent. The cash at WRMI is also available to the Parent through dividends and is subject to maintaining a statutory minimum level of capital, which is two hundred fifty thousand dollars. | |||||||||||||||
The Company anticipates that its cash from operations, cash on hand and available borrowing capacity will be sufficient to meet its investing, financing, and working capital requirements for the foreseeable future. | |||||||||||||||
In March 2013, the Company amended the WML Revolving Credit Agreement by extending the maturity date from June 26, 2013 to December 31, 2017. WML's revolving line of credit has a borrowing limit of $25.0 million. The interest rate under the revolving line of credit at December 31, 2013 was 3.75% per annum. At December 31, 2013, WML had no outstanding balance under the revolving line of credit and the revolving line of credit supports a letter of credit of $1.9 million, leaving it with $23.1 million of borrowing availability. WML's revolving line of credit is only available to fund the operations of its respective subsidiaries. | |||||||||||||||
On June 29, 2012, the Company and certain of its subsidiaries entered into a five-year, $20.0 million revolving line of credit permitted under the indenture governing the 10.75% Senior Notes with an expiration date of June 30, 2017. The revolver may support up to $2.0 million of letters of credit (which was increased to $10.0 million on January 10, 2014), which would reduce the balance available under the revolver. At December 31, 2013, availability on the revolver was $20.0 million with no outstanding balance and no supported letters of credit. All extensions of credit under the revolver are collateralized by a first priority security interest in and lien upon the inventory and accounts receivable of the Parent, WRI, Kemmerer, and ROVA. Pursuant to the Intercreditor Agreement, the holders of the 10.75% Senior Notes now have a subordinate lien on these assets. |
ACQUISITION
ACQUISITION | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Business Combinations [Abstract] | ' | |||||||
ACQUISITION | ' | |||||||
ACQUISITION | ||||||||
On December 23, 2011, the Company, through Westmoreland Kemmerer, Inc., entered into a purchase and sale agreement with Chevron Mining Inc., a Missouri corporation (the “Seller”), pursuant to which the Company agreed to purchase from Seller the Kemmerer surface coal mine, associated processing facilities and other related real and personal property assets located in Kemmerer, Wyoming and assumed certain liabilities related to the mine. The Company did not acquire working capital in the acquisition, other than inventory. | ||||||||
On January 31, 2012, the Company closed on the acquisition of the Kemmerer Mine from the Seller. In addition, on January 31, 2012, the Company completed the issuance and sale of $125.0 million aggregate principal amount of 10.75% senior secured notes due 2018 (the “Add-On Notes”) at a price equal to approximately 95.5% of their face value. | ||||||||
The purchase consideration for the Kemmerer Mine was $164.5 million, which included $76.5 million paid in cash, plus the assumption of approximately $88.0 million of liabilities. The net proceeds of the Add-On Notes financed the $76.5 million cash portion of the purchase consideration, $24.7 million of cash bonding obligations for the Kemmerer Mine and paid cash transaction costs for the Kemmerer acquisition and the Add-On Notes. Acquisition-related costs of $1.6 million have been expensed and are included in Selling and administrative costs. Issuance costs related to the Add-On Notes of $5.1 million have been capitalized. The balance of the net proceeds of the Add-On Notes was used to fund working capital requirements necessary to integrate the Kemmerer operations with the Company's operations. | ||||||||
The Kemmerer acquisition has been accounted for under the acquisition method of accounting that requires the total purchase consideration to be allocated to the assets acquired and liabilities assumed based on estimates of fair value. | ||||||||
The Company has finalized the purchase price allocation for the Kemmerer acquisition. No significant goodwill or other intangible assets were evident in the acquisition. | ||||||||
A summary of the purchase consideration and allocation of the purchase consideration follow (in millions): | ||||||||
Final as of | ||||||||
December 31, | ||||||||
2012 | ||||||||
Purchase consideration: | ||||||||
Cash paid | $ | 76.5 | ||||||
Fair value of liabilities assumed: | ||||||||
Postretirement medical cost obligations | 49.2 | |||||||
Asset retirement obligations | 19.4 | |||||||
Pension obligations | 15.6 | |||||||
Deferred revenue | 2.2 | |||||||
Accrued liabilities | 1.6 | |||||||
Total fair value of liabilities assumed | 88 | |||||||
Total purchase consideration | $ | 164.5 | ||||||
Allocation of purchase consideration: | ||||||||
Inventories | $ | 9.6 | ||||||
Land and mineral rights | 65.5 | |||||||
Plant and equipment | 89.4 | |||||||
Total | $ | 164.5 | ||||||
The following unaudited pro forma information has been prepared for illustrative purposes only and assumes the acquisition occurred on January 1, 2011. The unaudited pro forma results have been prepared based on estimates and assumptions, which the Company believes are reasonable, however, they are not necessarily indicative of the consolidated results of operations had the acquisition occurred on January 1, 2011, or of future results of operations. | ||||||||
Years Ended | ||||||||
31-Dec-12 | 31-Dec-11 | |||||||
(In thousands) | ||||||||
Total Revenues | ||||||||
As reported | $ | 600,437 | $ | 501,713 | ||||
Pro forma | $ | 614,550 | $ | 645,595 | ||||
Operating Income | ||||||||
As reported | $ | 28,872 | $ | 10,626 | ||||
Pro forma | $ | 31,146 | $ | 13,275 | ||||
Net income (loss) applicable to common shareholders | ||||||||
As reported | $ | (8,586 | ) | $ | (34,460 | ) | ||
Pro forma | $ | (7,524 | ) | $ | (46,260 | ) | ||
Net income (loss) per share applicable to common shareholders | ||||||||
As reported | $ | (0.61 | ) | $ | (2.61 | ) | ||
Pro forma | $ | (0.54 | ) | $ | (3.51 | ) |
INVENTORIES
INVENTORIES | 3 Months Ended | 12 Months Ended | ||||||||||||||
Mar. 31, 2014 | Dec. 31, 2013 | |||||||||||||||
Inventory Disclosure [Abstract] | ' | ' | ||||||||||||||
INVENTORIES | ' | ' | ||||||||||||||
INVENTORIES | INVENTORIES | |||||||||||||||
Inventories consisted of the following: | Inventories consisted of the following: | |||||||||||||||
March 31, 2014 | December 31, 2013 | December 31, | ||||||||||||||
(In thousands) | 2013 | 2012 | ||||||||||||||
Coal stockpiles | $ | 1,189 | $ | 543 | (In thousands) | |||||||||||
Coal stockpiles | $ | 543 | $ | 989 | ||||||||||||
Coal fuel inventories | 1,844 | 6,161 | ||||||||||||||
Coal fuel inventories | 6,161 | 3,048 | ||||||||||||||
Materials and supplies | 33,189 | 34,233 | ||||||||||||||
Materials and supplies | 34,233 | 34,954 | ||||||||||||||
Reserve for obsolete inventory | (775 | ) | (965 | ) | ||||||||||||
Total | $ | 35,447 | $ | 39,972 | Reserve for obsolete inventory | (965 | ) | (1,257 | ) | |||||||
Total | $ | 39,972 | $ | 37,734 | ||||||||||||
RESTRICTED_INVESTMENTS_AND_BON
RESTRICTED INVESTMENTS AND BOND COLLATERAL | 3 Months Ended | 12 Months Ended | ||||||||||||||
Mar. 31, 2014 | Dec. 31, 2013 | |||||||||||||||
Disclosure Restricted Investments and Bond Collateral [Abstract] | ' | ' | ||||||||||||||
RESTRICTED INVESTMENTS AND BOND COLLATERAL | ' | ' | ||||||||||||||
RESTRICTED INVESTMENTS AND BOND COLLATERAL | RESTRICTED INVESTMENTS AND BOND COLLATERAL | |||||||||||||||
The Company’s restricted investments and bond collateral consist of the following: | The Company’s restricted investments and bond collateral consist of the following: | |||||||||||||||
March 31, 2014 | 31-Dec-13 | December 31, | ||||||||||||||
(In thousands) | 2013 | 2012 | ||||||||||||||
Coal Segment: | (In thousands) | |||||||||||||||
WML debt reserve account | $ | 13,068 | $ | 13,067 | Coal Segment: | |||||||||||
WML debt reserve account | $ | 13,067 | $ | 13,062 | ||||||||||||
Reclamation bond collateral: | ||||||||||||||||
Kemmerer Mine | 24,944 | 24,966 | Reclamation bond collateral: | |||||||||||||
Kemmerer Mine | 24,966 | 24,702 | ||||||||||||||
Absaloka Mine | 11,670 | 11,653 | ||||||||||||||
Absaloka Mine | 11,653 | 14,507 | ||||||||||||||
Rosebud Mine | 3,145 | 3,145 | ||||||||||||||
Rosebud Mine | 3,145 | 12,495 | ||||||||||||||
Beulah Mine | 1,270 | 1,270 | ||||||||||||||
Beulah Mine | 1,270 | 1,270 | ||||||||||||||
Power Segment: | ||||||||||||||||
Letter of credit account | — | 5,998 | Power Segment: | |||||||||||||
Letter of credit account | 5,998 | 5,990 | ||||||||||||||
Corporate Segment: | ||||||||||||||||
Proceeds from the New Notes held in escrow | 454,219 | — | Corporate Segment: | |||||||||||||
Postretirement medical benefit bonds | 8,467 | 8,593 | ||||||||||||||
Other requirements for Sherritt Acquisition held in escrow | 16,900 | — | ||||||||||||||
Workers’ compensation bonds | 6,667 | 6,590 | ||||||||||||||
Postretirement medical benefit bonds | 8,481 | 8,467 | ||||||||||||||
Total restricted investments and bond collateral | 75,233 | 87,209 | ||||||||||||||
Workers’ compensation bonds | 6,686 | 6,667 | ||||||||||||||
Less current portion | (5,998 | ) | — | |||||||||||||
Total restricted investments and bond collateral | 540,383 | 75,233 | ||||||||||||||
Total restricted investments and bond collateral, less current portion | $ | 69,235 | $ | 87,209 | ||||||||||||
Less current portion | (16,900 | ) | (5,998 | ) | ||||||||||||
Total restricted investments and bond collateral, less current portion | $ | 523,483 | $ | 69,235 | The Company’s carrying value and estimated fair value of its restricted investments and bond collateral at December 31, 2013 are as follows: | |||||||||||
For all of its restricted investments and bond collateral accounts, the Company can select from limited fixed-income investment options for the funds and receive the investment returns on these investments. Funds in the restricted investments and bond collateral accounts are not available to meet the Company’s general cash needs. Net proceeds from the New Notes (see Note 4) are held in escrow pending the completion of the Sherritt Acquisition and are held entirely in cash. Other requirements for the Sherritt Acquisition include cash required to be deposited in a restricted account for interest accrued as of March 31, 2014 for the New Notes and other fees expected to be paid in connection with the Sherritt Acquisition. | Carrying Value | Fair Value | ||||||||||||||
(In thousands) | ||||||||||||||||
These accounts include held-to-maturity securities. Held-to-maturity securities are recorded at amortized cost, adjusted for the amortization or accretion of premiums or discounts calculated on the effective interest method. Interest income is recognized when earned. | Cash and cash equivalents | $ | 40,605 | $ | 40,605 | |||||||||||
The Company’s carrying value and estimated fair value of its restricted investments and bond collateral at March 31, 2014 are as follows: | Time deposits | 2,444 | 2,444 | |||||||||||||
Held-to-maturity securities | 32,184 | 32,046 | ||||||||||||||
Carrying Value | Fair Value | |||||||||||||||
(In thousands) | $ | 75,233 | $ | 75,095 | ||||||||||||
Cash and cash equivalents | $ | 503,391 | $ | 503,391 | ||||||||||||
In 2013, 2012, and 2011, the Company recorded a gain of less than $0.1 million, $0.1 million, and $0.1 million, respectively, on the sale of available-for-sale securities held as restricted investments and bond collateral. | ||||||||||||||||
Time deposits | 2,444 | 2,444 | In 2013, $3.0 million and $9.4 million of reclamation bond collateral has been released from restriction regarding the Absaloka and Rosebud Mines, respectively. | |||||||||||||
The $6.0 million letter of credit account in the power segment has been released from restriction in February, 2014 and as a result is included as current portion. | ||||||||||||||||
Held-to-maturity securities | 34,548 | 34,707 | Coal Segment | |||||||||||||
Pursuant to the terms of the Note Purchase Agreement dated June 26, 2008, WML must maintain a debt service reserve account. The debt service reserve account is required to contain funds sufficient to pay the principal, interest, and collateral agent’s fees scheduled to be paid in the following six months. The debt service reserve account was fully funded at December 31, 2013. | ||||||||||||||||
$ | 540,383 | $ | 540,542 | As of December 31, 2013, the Company had reclamation bond collateral in place for its Kemmerer, Absaloka, Rosebud and Beulah Mines. Bond collateral is not required at the Jewett Mine as reclamation bonding is the responsibility of its customer. These government-required bonds assure that coal-mining operations comply with applicable federal and state regulations relating to the performance and completion of final reclamation activities. The amounts deposited in the bond collateral account secure the bonds issued by the bonding company. | ||||||||||||
Power Segment | ||||||||||||||||
Held-to-Maturity Restricted Investments and Bond Collateral | As of February, 2014, the Company will no longer be required to fund a letter of credit account for its power operations. | |||||||||||||||
Corporate Segment | ||||||||||||||||
The amortized cost, gross unrealized holding gains and fair value of held-to-maturity securities at March 31, 2014 is as follows (in thousands): | The Company is required to obtain surety bonds in connection with its self-insured workers’ compensation plan and certain health care plans. The Company’s surety bond underwriters require collateral to issue these bonds. | |||||||||||||||
Held-to-Maturity and Available-for-Sale Restricted Investments and Bond Collateral | ||||||||||||||||
The amortized cost, gross unrealized holding gains and losses and fair value of held-to-maturity securities are as follows: | ||||||||||||||||
Amortized cost | $ | 34,548 | ||||||||||||||
Gross unrealized holding gains | 440 | December 31, | ||||||||||||||
2013 | 2012 | |||||||||||||||
Gross unrealized holding losses | (281 | ) | (In thousands) | |||||||||||||
Fair value | $ | 34,707 | Amortized cost | $ | 32,184 | $ | 3,983 | |||||||||
Maturities of held-to-maturity securities are as follows at March 31, 2014: | Gross unrealized holding gains | 309 | 356 | |||||||||||||
Gross unrealized holding losses | (447 | ) | — | |||||||||||||
Amortized Cost | Fair Value | |||||||||||||||
(In thousands) | Fair value | $ | 32,046 | $ | 4,339 | |||||||||||
Due within one year | $ | 1,193 | $ | 1,217 | ||||||||||||
Maturities of held-to-maturity securities are as follows at December 31, 2013: | ||||||||||||||||
Due in five years or less | 19,539 | 19,752 | ||||||||||||||
Due after five years to ten years | 6,718 | 6,717 | Amortized Cost | Fair Value | ||||||||||||
(In thousands) | ||||||||||||||||
Due in more than ten years | 7,098 | 7,021 | Due within one year | $ | 1,111 | $ | 1,143 | |||||||||
$ | 34,548 | $ | 34,707 | Due in five years or less | 17,839 | 17,944 | ||||||||||
Due after five years to ten years | 6,769 | 6,665 | ||||||||||||||
The Company does not intend to sell its held-to-maturity securities and it is not more likely than not that the Company will be required to sell the securities before recovery of amortized cost bases, which may be at maturity. | ||||||||||||||||
Due in more than ten years | 6,465 | 6,294 | ||||||||||||||
As of February 2014, the Company is no longer required to fund a letter of credit account for its power operations. | ||||||||||||||||
$ | 32,184 | $ | 32,046 | |||||||||||||
The cost basis, gross unrealized holding gains and fair value of available-for-sale securities are as follows: | ||||||||||||||||
December 31, | ||||||||||||||||
2013 | 2012 | |||||||||||||||
(In thousands) | ||||||||||||||||
Cost basis | $ | — | $ | 175 | ||||||||||||
Gross unrealized holding gains | — | 16 | ||||||||||||||
Fair value | $ | — | $ | 191 | ||||||||||||
LINES_OF_CREDIT_AND_LONGTERM_D
LINES OF CREDIT AND LONG-TERM DEBT | 3 Months Ended | 12 Months Ended | ||||||||||||||
Mar. 31, 2014 | Dec. 31, 2013 | |||||||||||||||
Debt Disclosure [Abstract] | ' | ' | ||||||||||||||
LINES OF CREDIT AND LONG-TERM DEBT | ' | ' | ||||||||||||||
LINES OF CREDIT AND LONG-TERM DEBT | LINES OF CREDIT AND LONG-TERM DEBT | |||||||||||||||
The amounts outstanding under the Company’s long-term debt consisted of the following as of the dates indicated: | The amounts outstanding under the Company’s long-term debt consisted of the following as of the dates indicated: | |||||||||||||||
Total Debt Outstanding | Total Debt Outstanding | |||||||||||||||
March 31, 2014 | December 31, 2013 | December 31, | ||||||||||||||
(In thousands) | 2013 | 2012 | ||||||||||||||
10.75% Senior Notes due 2018 | $ | 251,500 | $ | 251,500 | (In thousands) | |||||||||||
10.75% senior notes due 2018 | $ | 251,500 | $ | 252,000 | ||||||||||||
New Notes - 10.75% senior notes due 2018 | 425,000 | — | ||||||||||||||
WML term debt due 2018 | 85,500 | 103,500 | ||||||||||||||
8.02% WML term debt due 2018 | 81,000 | 85,500 | ||||||||||||||
Capital lease obligations | 10,153 | 13,926 | ||||||||||||||
Capital lease obligations | 21,465 | 10,153 | ||||||||||||||
Other | 1,209 | 1,654 | ||||||||||||||
Other | 1,093 | 1,209 | ||||||||||||||
Debt discount | (8,525 | ) | (10,091 | ) | ||||||||||||
Debt premium (discount), net | 20,173 | (8,525 | ) | Total debt outstanding | 339,837 | 360,989 | ||||||||||
Total debt outstanding | 800,231 | 339,837 | Less current portion | (44,343 | ) | (23,791 | ) | |||||||||
Total debt outstanding, less current portion | $ | 295,494 | $ | 337,198 | ||||||||||||
Less current installments | (48,586 | ) | (44,343 | ) | ||||||||||||
Total debt outstanding, less current installments | $ | 751,645 | $ | 295,494 | The following table presents aggregate contractual debt maturities of all long-term debt: | |||||||||||
The following table presents aggregate contractual debt maturities of all long-term debt: | As of December 31, 2013 | |||||||||||||||
(In thousands) | ||||||||||||||||
2014 | $ | 23,949 | ||||||||||||||
As of March 31, 2014 | ||||||||||||||||
(In thousands) | 2015 | 22,662 | ||||||||||||||
2014 | $ | 19,569 | ||||||||||||||
2016 | 21,943 | |||||||||||||||
2015 | 24,710 | |||||||||||||||
2017 | 22,492 | |||||||||||||||
2016 | 24,055 | |||||||||||||||
2018 | 257,316 | |||||||||||||||
2017 | 24,664 | |||||||||||||||
Thereafter | — | |||||||||||||||
2018 | 684,556 | |||||||||||||||
Total | 348,362 | |||||||||||||||
Thereafter | 2,504 | |||||||||||||||
Less: debt discount | (8,525 | ) | ||||||||||||||
Total | 780,058 | Total debt | $ | 339,837 | ||||||||||||
Plus: debt premium (discount), net | 20,173 | |||||||||||||||
Revolving Lines of Credit | ||||||||||||||||
Total debt | $ | 800,231 | Corporate Revolving Credit Agreement | |||||||||||||
On June 29, 2012, the Company and certain of its subsidiaries entered into a five-year, $20.0 million revolving line of credit permitted under the indenture governing the 10.75% Senior Notes with an expiration date of June 30, 2017. The revolver may support up to $2.0 million of letters of credit (which was increased to $10.0 million on January 10, 2014), which would reduce the balance available under the revolver. At December 31, 2013, availability on the revolver was $20.0 million with no outstanding balance and no supported letters of credit. All extensions of credit under the revolver are collateralized by a first priority security interest in and lien upon the inventory and accounts receivable of the Parent, WRI, Kemmerer, and ROVA. Pursuant to the Intercreditor Agreement, the holders of the 10.75% Senior Notes now have a subordinate lien on these assets. The Company capitalized debt issuance costs of $0.7 million in 2012 related to the revolver. | ||||||||||||||||
Two interest rate options exist under this revolver. The Base Rate option bears interest at the greater of the Federal Funds Rate plus 0.5% or the Prime Rate, as defined in the loan agreement and is payable monthly. The LIBOR Rate option bears interest at the London Interbank Offering Rate, or LIBOR, rate plus 2.25% and is payable monthly. In addition, a commitment fee of 0.75% of the average unused portion of the available revolver is payable monthly. | ||||||||||||||||
On February 7, 2014, the Company closed on a private offering of $425.0 million in aggregate principal amount of 10.75% senior notes due 2018 at a price of 106.875% plus accrued interest from February 1, 2014, referred to as the New Notes. Total proceeds of the offering was $454.2 million, which included $29.2 million of debt premium. The net proceeds of the offering of the New Notes will be used to finance the approximately $293 million cash portion of the purchase price of the Sherritt Acquisition, an estimated $58 million to satisfy the cash bonding obligations for the Sherritt mines and cash transaction costs associated with the acquisition and offering of the New Notes of approximately $26 million. The remaining balance of the proceeds will be used to fund the prepayment of the WML Notes and for other general corporate purposes. The proceeds of the offering are being held in escrow pending the completion of the acquisition. The Company will pay interest on the New Notes semi-annually on February 1st and August 1st of each year beginning on August 1, 2014. The Company capitalized debt issuance costs of $7.6 million during the three months ended March 31, 2014. | The loan agreement contains various affirmative, negative and financial covenants. Financial covenants in the agreement include a fixed charge coverage ratio and an EBITDA measure. The fixed charge coverage ratio must meet or exceed a specified minimum. The EBITDA covenant requires a minimum amount of EBITDA to be achieved. We met these covenant requirements as of December 31, 2013. | |||||||||||||||
WML Revolving Credit Agreement | ||||||||||||||||
Promptly following the completion of the Sherritt Acquisition, the Company will exchange the New Notes for $425 million aggregate principal amount of add-on 10.75% senior secured notes due 2018 (the “Add-On Notes”) and the Company will become party to a registration rights agreement, pursuant to which the Company will agree to register with the Securities and Exchange Commission the exchange of Add-On Notes for registered notes with the same terms as the existing 10.75% Senior Notes due 2018. | At December 31, 2013, WML had a revolving credit agreement with a borrowing limit of $25.0 million and a maturity date of June 26, 2013. WML has two interest rate options to choose from on this revolver. The Base Rate option bears interest at a base rate plus 0.50% and is payable monthly (3.75% per annum at December 31, 2013). The LIBOR Rate option bears interest at the London Interbank Offering Rate, or LIBOR, rate plus 3.0% (3.53% per annum at December 31, 2013). In addition, a commitment fee of 0.50% of the average unused portion of the available revolver is payable quarterly. At December 31, 2013, the revolver had no outstanding balance and supported a $1.9 million letter of credit. The Company had $23.1 million of borrowing availability under this revolver at December 31, 2013. | |||||||||||||||
If the Sherritt Acquisition is not completed on or prior to June 30, 2014, then the New Notes will be subject to a mandatory redemption at a redemption price equal to 101% of the offering price of the New Notes, plus accrued and unpaid interest through the mandatory redemption date. | In March 2013, the Company amended the credit agreement by extending the maturity date from June 26, 2013 to December 31, 2017. Issuance costs related to the amendment of $0.2 million have been capitalized. | |||||||||||||||
The revolver is secured by substantially all assets of WML, Westmoreland Savage Corporation, or WSC, Western Energy Company, or WECO, and Dakota Westmoreland Corporation, or DWC; the Company’s membership interest in WML; and the stock of WSC, WECO and DWC. WECO, DWC, and WSC have guaranteed WML’s obligations with respect to the Revolver. | ||||||||||||||||
During the three months ended March 31, 2014, we entered into $12.9 million of new capital leases at our Kemmerer Mine. | Upon closing of the Sherritt Acquisition, the WML revolving credit agreement will expect to be terminated. See Note 1 for additional information. | |||||||||||||||
10.75% Senior Notes | ||||||||||||||||
Additional information regarding the Company's debt is outlined in Note 5 to the Consolidated Financial Statements in the Company's 2013 Annual Report on Form 10-K. | On February 4, 2011 through a private placement offering, the Company issued $150.0 million of Parent Notes (the “Parent Notes”), which are senior secured notes. The Company’s subsidiary, Westmoreland Partners, was a co-issuer of the notes. The Parent Notes were issued at a 5% discount, mature February 1, 2018, and bear a fixed interest rate of 10.75%, payable semi-annually, in arrears, on February 1 and August 1 of each year, which began August 1, 2011. Proceeds from the Parent Notes were used to retire ROVA's term debt, WRI's term debt and revolving line of credit, and the convertible notes; as well as payment of preferred stock dividend arrearages. On July 29, 2011, the Company commenced an exchange offer for the Parent Notes for an equal principal amount of notes that have been registered under the Securities Act of 1933, which exchange was completed in September, 2011. As a result of this offering, the Company recorded a $17.0 million loss on extinguishment of debt in the year ended December 31, 2011. The loss included a $9.1 million make-whole payment for ROVA’s debt and $7.9 million of non-cash write-offs of unamortized discount on debt and related capitalized debt costs and convertible debt conversion expense. | |||||||||||||||
On January 31, 2012, the Company completed the private placement of $125.0 million of senior secured notes due in 2018 (the “Add-On Notes”), which were additional notes issued pursuant to the existing Parent Notes indenture, collectively referred to as the “10.75% Senior Notes”. The Add-On Notes were issued at a 4.5% original issue discount. On June 22, 2012, the Company commenced an exchange offer for the Add-On Notes for an equal principal amount of notes that have been registered under the Securities Act of 1933, which exchange was completed in July, 2012. At this time, all of the outstanding 10.75% Senior Notes are traded under one CUSIP. In 2011, the Company capitalized $0.2 million of debt issuance costs related to the Add-On Notes offering and has capitalized debt issuance costs of $4.9 million in 2012. The Company funded the Kemmerer Mine acquisition through the net proceeds from the Add-On Notes. | ||||||||||||||||
The 10.75% Senior Notes mature February 1, 2018, and bear an annual fixed interest rate of 10.75%, payable semi-annually, in arrears, on February 1 and August 1 of each year. The 10.75% Senior Notes are fully and unconditionally guaranteed by ROVA, Westmoreland Kemmerer, Inc. (“Kemmerer”), WRI and their respective subsidiaries (other than Absaloka Coal, LLC) and by certain other subsidiaries. Substantially all of the assets of the Parent, ROVA, Kemmerer and WRI constitute collateral for the 10.75% Senior Notes as to which the holders of these notes have a lien securing the notes. The lien securing the 10.75% Senior Notes is subordinate to the lien securing our revolving credit agreement. | ||||||||||||||||
During the year ended December 31, 2013, the Company paid $0.5 million, excluding accrued interest, to repurchase Senior Notes with a principal amount of $0.5 million. The Company recognized losses of $0.1 million on these repurchases, which were recorded as losses on extinguishment of debt. The losses on the repurchases were measured based on the carrying value of the repurchased portion of the Senior Notes, which included a portion of the unamortized debt issue costs and the debt discount on the dates of repurchase. | ||||||||||||||||
Under the indenture governing the 10.75% Senior Notes, the Company is required to offer a portion of our Excess Cash Flow (as defined by the indenture) for each fiscal year to purchase some of these notes at 100% of the principal amount. While the Company did repurchase $23.0 million of 10.75% Senior Notes during 2012, we did not have Excess Cash Flow for the years ended December 31, 2012 or 2011. The Company did have $29.5 million of Excess Cash Flow for the year ended December 31, 2013 and will be required to offer $22.1 million for repurchase by April 30, 2014. As a result, the Company has reclassified $22.1 million of the outstanding 10.75% Senior Notes to Current installments of long-term debt. | ||||||||||||||||
The indenture governing the 10.75% Senior Notes contains, among other provisions, events of default and various affirmative and negative covenants. As of December 31, 2013, the Company was in compliance with all covenants for these notes. | ||||||||||||||||
WML Term Debt | ||||||||||||||||
The term debt bears interest at 8.02% per annum, payable quarterly. The principal payments required for the term debt are as follows: | ||||||||||||||||
(In millions) | ||||||||||||||||
2014 | $ | 18 | ||||||||||||||
2015 | 20 | |||||||||||||||
2016 | 20 | |||||||||||||||
2017 | 22 | |||||||||||||||
2018 | 5.5 | |||||||||||||||
Thereafter | — | |||||||||||||||
The term debt is payable in full on March 31, 2018. The term debt is secured by substantially all assets of WML, Westmoreland Savage Corporation, or WSC, Western Energy Company, or WECO, and Dakota Westmoreland Corporation, or DWC; the Company’s membership interest in WML; and the stock of WSC, WECO and DWC. WECO, DWC, and WSC have guaranteed WML’s obligations with respect to the term debt. The credit agreement requires a debt service account and imposes timing and other restrictions on the ability of WML to distribute funds to the Parent. | ||||||||||||||||
WML’s credit agreement contains various affirmative and negative covenants. Operational covenants in the agreements prohibit, among other things, WML from incurring or guaranteeing additional indebtedness, creating liens on its assets, making investments or engaging in asset sales or transactions with affiliates, in each case subject to specified exceptions. Financial covenants in the agreements impose requirements relating to specified debt service coverage and leverage ratios. The debt service coverage ratio must meet or exceed a specified minimum. The leverage ratio covenant requires that WML not permit the ratio of total debt at the end of each quarter to EBITDA (both as defined) for the four quarters then ended to be greater than a specified amount. WML met all of its covenant requirements as of December 31, 2013. | ||||||||||||||||
Upon closing of the Sherritt Acquisition, the WML term debt will expect to be prepaid using a portion of the $425.0 million in proceeds from the offering of the New Notes. See Note 1 for additional information. | ||||||||||||||||
Capital Leases | ||||||||||||||||
The Company engages in leasing transactions for equipment utilized in its mining operations. At December 31, 2013 and 2012, the capital leases outstanding had a weighted average interest rate of 6.40% and 7.57%, respectively and mature at various dates beginning in 2014 through 2018. During the year ended December 31, 2013, the Company paid $2.7 million to purchase equipment under capital leases prior to their maturities with a principal amount of $2.5 million. The difference between the purchase price and the carrying amount of the capital lease obligation was recorded as an adjustment to the carrying amount of the equipment. |
POSTRETIREMENT_MEDICAL_BENEFIT
POSTRETIREMENT MEDICAL BENEFITS | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Postretirement Medical Benefits Disclosure [Abstract] | ' | |||||||||||
POSTRETIREMENT MEDICAL BENEFITS | ' | |||||||||||
POSTRETIREMENT MEDICAL BENEFITS | ||||||||||||
The Company provides postretirement medical benefits to retired employees and their dependents, mandated by the Coal Industry Retiree Health Act of 1992 and pursuant to collective bargaining agreements. The Company also provides these benefits to qualified full-time employees pursuant to collective bargaining agreements. These benefits are provided through self-insured programs. | ||||||||||||
The following table sets forth the actuarial present value of postretirement medical benefit obligations and amounts recognized in the Company’s financial statements: | ||||||||||||
December 31, | ||||||||||||
2013 | 2012 | |||||||||||
(In thousands) | ||||||||||||
Change in benefit obligations: | ||||||||||||
Net benefit obligation at beginning of year | $ | 333,842 | $ | 258,641 | ||||||||
Liability acquired | — | 49,241 | ||||||||||
Service cost | 4,436 | 3,555 | ||||||||||
Interest cost | 12,139 | 12,363 | ||||||||||
Plan participant contributions | 132 | 129 | ||||||||||
Actuarial loss (gain) | (53,230 | ) | 22,342 | |||||||||
Gross benefits paid | (14,220 | ) | (13,544 | ) | ||||||||
Federal subsidy on benefits paid | 1,230 | 1,115 | ||||||||||
Net benefit obligation at end of year | 284,329 | 333,842 | ||||||||||
Change in plan assets: | ||||||||||||
Employer contributions | 14,088 | 13,415 | ||||||||||
Plan participant contributions | 132 | 129 | ||||||||||
Gross benefits paid | (14,220 | ) | (13,544 | ) | ||||||||
Fair value of plan assets at end of year | — | — | ||||||||||
Unfunded status at end of year | $ | (284,329 | ) | $ | (333,842 | ) | ||||||
Amounts recognized in the balance sheet consist of: | ||||||||||||
Current liabilities | $ | (13,955 | ) | $ | (14,068 | ) | ||||||
Noncurrent liabilities | (270,374 | ) | (319,775 | ) | ||||||||
Accumulated other comprehensive loss | 20,292 | 77,528 | ||||||||||
Net amount recognized | $ | (264,037 | ) | $ | (256,315 | ) | ||||||
Amounts recognized in accumulated other comprehensive loss consists of: | ||||||||||||
Net actuarial loss | $ | 26,012 | $ | 83,884 | ||||||||
Prior service credit | (5,720 | ) | (6,356 | ) | ||||||||
$ | 20,292 | $ | 77,528 | |||||||||
In 2013, the Company’s postretirement medical benefit liabilities decreased $49.5 million primarily due to increases in discount rates. | ||||||||||||
The Company has elected to amortize its transition obligations over a 20-year period. Prior service costs and credits and actuarial gains and losses are amortized over the average life expectancy or average future service of the plan’s participants. The following amounts will be amortized from accumulated other comprehensive loss into net periodic benefit cost in 2014 (in millions): | ||||||||||||
Actuarial loss | $ | 0.7 | ||||||||||
Prior service credit | 0.6 | |||||||||||
The components of net periodic postretirement medical benefit cost are as follows: | ||||||||||||
Years Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(In thousands) | ||||||||||||
Components of net periodic benefit cost: | ||||||||||||
Service cost | $ | 4,436 | $ | 3,555 | $ | 493 | ||||||
Interest cost | 12,139 | 12,363 | 10,510 | |||||||||
Amortization of: | ||||||||||||
Transition obligation | — | 93 | 93 | |||||||||
Prior service credit | (636 | ) | (636 | ) | (636 | ) | ||||||
Actuarial loss | 4,641 | 3,116 | 255 | |||||||||
Total net periodic benefit cost | $ | 20,580 | $ | 18,491 | $ | 10,715 | ||||||
The following table shows the net periodic postretirement medical benefit costs that relate to current and former mining operations: | ||||||||||||
Years Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(In thousands) | ||||||||||||
Former mining operations | $ | 12,475 | $ | 11,314 | $ | 9,259 | ||||||
Current operations | 8,105 | 7,177 | 1,456 | |||||||||
Total net periodic benefit cost | $ | 20,580 | $ | 18,491 | $ | 10,715 | ||||||
The costs for the former mining operations are included in Heritage health benefit expenses and the costs for current operations are included as operating expenses. | ||||||||||||
Assumptions | ||||||||||||
The weighted-average assumptions used to determine the benefit obligations as of the end of each year were as follows: | ||||||||||||
December 31, | ||||||||||||
2013 | 2012 | |||||||||||
Discount rate | 4.50% - 5.05% | 3.60% - 4.15% | ||||||||||
Measurement date | December 31, 2013 | December 31, 2012 | ||||||||||
The discount rate is adjusted annually based on an Aa corporate bond index adjusted for the difference in the duration of the bond index and the duration of the benefit obligations. This rate is calculated using a yield curve, which is developed using the average yield for bonds in the tenth to ninetieth percentiles, which excludes bonds with outlier yields. | ||||||||||||
The weighted-average assumptions used to determine net periodic benefit cost were as follows: | ||||||||||||
December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Discount rate | 3.60% - 4.15% | 4.10% | 5.15% | |||||||||
Measurement date | 31-Dec-12 | 31-Dec-11 | 31-Dec-10 | |||||||||
The following presents information about the assumed health care trend rate: | ||||||||||||
December 31, | ||||||||||||
2013 | 2012 | |||||||||||
Health care cost trend rate assumed for next year | 6.75 | % | 7 | % | ||||||||
Rate to which the cost trend is assumed to decline (ultimate trend rate) | 5 | % | 5 | % | ||||||||
Year that the trend rate reaches the ultimate trend rate | 2021 | 2021 | ||||||||||
The effect of a one percent change on the health care cost trend rate used to calculate periodic postretirement medical benefit costs and the related benefit obligation are summarized in the table below: | ||||||||||||
Postretirement Medical Benefits | ||||||||||||
1 % Increase | 1 % Decrease | |||||||||||
(In thousands) | ||||||||||||
Effect on service and interest cost components | $ | 3,148 | $ | (2,442 | ) | |||||||
Effect on postretirement medical benefit obligation | $ | 35,464 | $ | (30,096 | ) | |||||||
Cash Flows | ||||||||||||
The following benefit payments and Medicare D subsidy (which the Company receives as a benefit partially offsetting its prescription drug costs for retirees and their dependents) are expected by the Company: | ||||||||||||
Postretirement | Medicare D | Net | ||||||||||
Medical Benefits | Subsidy | Postretirement | ||||||||||
Medical Benefits | ||||||||||||
(In thousands) | ||||||||||||
2014 | $ | 13,955 | $ | (1,249 | ) | $ | 12,706 | |||||
2015 | 14,522 | (1,293 | ) | 13,229 | ||||||||
2016 | 14,975 | (1,336 | ) | 13,639 | ||||||||
2017 | 15,408 | (1,386 | ) | 14,022 | ||||||||
2018 | 16,191 | (1,432 | ) | 14,759 | ||||||||
Years 2019 - 2023 | 85,342 | (7,807 | ) | 77,535 | ||||||||
Combined Benefit Fund | ||||||||||||
Additionally, the Company makes payments to the UMWA Combined Benefit Fund, or CBF, which is a multiemployer health plan neither controlled by nor administered by the Company. The CBF is designed to pay health care benefits to UMWA workers (and dependents) who retired prior to 1976. The Company is required by the Coal Act to make monthly premium payments into the CBF. These payments are based on the number of the Company’s UMWA employees who retired prior to 1976, and the Company’s pro-rata assigned share of UMWA retirees whose companies are no longer in business. Contributions to the CBF have decreased over the past three years due to a declining population. The Company expenses payments to the CBF when they are due. The following payments were made to the CBF (in millions): | ||||||||||||
2013 | $ | 2.2 | ||||||||||
2012 | 2.3 | |||||||||||
2011 | 2.6 | |||||||||||
Workers’ Compensation Benefits | ||||||||||||
The Company was self-insured for workers’ compensation benefits prior to January 1, 1996. Since 1996, the Company has purchased third-party insurance for workers’ compensation claims. | ||||||||||||
The following table shows the changes in the Company’s workers’ compensation obligation: | ||||||||||||
December 31, | ||||||||||||
2013 | 2012 | |||||||||||
(In thousands) | ||||||||||||
Workers’ compensation, beginning of year (including current portion) | $ | 9,530 | $ | 11,626 | ||||||||
Accretion | 166 | 204 | ||||||||||
Claims paid | (581 | ) | (475 | ) | ||||||||
Actuarial changes | (1,654 | ) | (1,825 | ) | ||||||||
Workers’ compensation, end of year | 7,461 | 9,530 | ||||||||||
Less current portion | (717 | ) | (820 | ) | ||||||||
Workers’ compensation, less current portion | $ | 6,744 | $ | 8,710 | ||||||||
The discount rates used in determining the workers’ compensation benefit accruals are adjusted annually based on ten-year Treasury bond rates. At December 31, 2013 and 2012, the rates were 3.0% and 2.0%, respectively. | ||||||||||||
Black Lung Benefits | ||||||||||||
The Company is self-insured for federal and state black lung benefits for former heritage employees and has established an independent trust to pay these benefits. | ||||||||||||
The PPACA amended previous legislation related to black lung disease, providing automatic extension of awarded lifetime benefits to surviving spouses and providing changes to the legal criteria used to assess and award claims. Since the legislation passed in March 2010, the Company has experienced a significant increase in claims filed compared to the corresponding period in prior years. However, the Company has not been able to determine what, if any, additional impact may result from these claims due to lack of claims experience under the new legislation and court rulings interpreting the new provisions. The Company has not noted an increase in cash disbursements resulting from these new claims. The Company will continue to evaluate the impact of the PPACA in future periods as additional information, interpretations, guidance and claims experience becomes available. | ||||||||||||
The following table sets forth the funded status of the Company’s black lung obligation: | ||||||||||||
December 31, | ||||||||||||
2013 | 2012 | |||||||||||
(In thousands) | ||||||||||||
Actuarial present value of benefit obligation: | ||||||||||||
Expected claims from terminated employees | $ | 876 | $ | 1,139 | ||||||||
Amounts owed to existing claimants | 13,267 | 15,061 | ||||||||||
Total present value of benefit obligation | 14,143 | 16,200 | ||||||||||
Plan assets at fair value, primarily government-backed securities | 5,468 | 7,844 | ||||||||||
Excess of the black lung benefit obligation over trust assets | $ | 8,675 | $ | 8,356 | ||||||||
The discount rates used in determining the actuarial present value of the black lung benefit obligation are based on corporate bond yields and are adjusted annually. At December 31, 2013 and 2012, the rates used were 4.00% and 3.25%, respectively. | ||||||||||||
Plan Assets | ||||||||||||
The fair value of the Company’s Black Lung trust assets by asset category is as follows: | ||||||||||||
31-Dec-13 | ||||||||||||
Quoted Prices | Significant | |||||||||||
in Active | Other | |||||||||||
Markets for | Observable | |||||||||||
Identical Assets | Inputs | |||||||||||
Fair Value | Level 1 | Level 2 | ||||||||||
(In thousands) | ||||||||||||
U.S. treasury securities | $ | 5,280 | $ | — | $ | 5,280 | ||||||
Mortgage-backed securities | 185 | — | 185 | |||||||||
Cash and cash equivalents | 3 | 3 | — | |||||||||
$ | 5,468 | $ | 3 | $ | 5,465 | |||||||
31-Dec-12 | ||||||||||||
Quoted Prices | Significant | |||||||||||
in Active | Other | |||||||||||
Markets for | Observable | |||||||||||
Identical Assets | Inputs | |||||||||||
Fair Value | Level 1 | Level 2 | ||||||||||
(In thousands) | ||||||||||||
U.S. treasury securities | $ | 7,548 | $ | — | $ | 7,548 | ||||||
Mortgage-backed securities | 269 | — | 269 | |||||||||
Cash and cash equivalents | 27 | 27 | — | |||||||||
$ | 7,844 | $ | 27 | $ | 7,817 | |||||||
The Black Lung Level 1 trust assets include cash and cash equivalents. | ||||||||||||
The Black Lung Level 2 trust assets include U.S. treasury bonds and notes where evaluators gather information from market sources and integrate relative credit information, observed market movements, and sector news into the evaluated pricing applications and models to value these assets. Level 2 trust assets also include mortgage-backed securities which are valued via model using various inputs such as daily cash flow, snapshots of US Treasury market, floating rate indices as a benchmark yield, spread over index, periodic and life caps, next coupon adjustment date, and convertibility of the bond. |
PENSION_AND_OTHER_SAVING_PLANS
PENSION AND OTHER SAVING PLANS | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||
Mar. 31, 2014 | Dec. 31, 2013 | |||||||||||||||||||||||||||||||
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract] | ' | ' | ||||||||||||||||||||||||||||||
PENSION AND OTHER SAVING PLANS | ' | ' | ||||||||||||||||||||||||||||||
POSTRETIREMENT MEDICAL BENEFITS AND PENSION | PENSION AND OTHER SAVING PLANS | |||||||||||||||||||||||||||||||
Postretirement Medical Benefits | Defined Benefit Pension Plans | |||||||||||||||||||||||||||||||
The Company provides postretirement medical benefits to retired employees and their dependents as mandated by the Coal Industry Retiree Health Benefit Act of 1992 and pursuant to collective bargaining agreements. The Company also provides these benefits to qualified full-time employees pursuant to collective bargaining agreements. | The Company provides defined benefit pension plans to qualified full-time employees pursuant to collective bargaining agreements. Benefits are generally based on years of service and the employee’s average annual compensation for the highest five continuous years of employment as specified in the plan agreement. The Company’s funding policy is to contribute annually the minimum amount prescribed, as specified by applicable regulations or loan covenants. The Company may make additional discretionary contributions. In 2009, the Company froze its pension plan for non-represented employees. | |||||||||||||||||||||||||||||||
The components of net periodic postretirement medical benefit cost are as follows: | Supplemental Executive Retirement Plan | |||||||||||||||||||||||||||||||
The Company maintains a Supplemental Executive Retirement Plan or SERP for former executives as a result of employment or severance agreements. The SERP is an unfunded non-qualified deferred compensation plan, which provides benefits to certain employees beyond the maximum limits imposed by the Employee Retirement Income Security Act and the Internal Revenue Code. The Company does not expect to add new participants to its SERP plan. | ||||||||||||||||||||||||||||||||
The following table provides a reconciliation of the changes in the benefit obligations of the plans and the fair value of assets of the qualified plans and the amounts recognized in the Company’s financial statements for both the defined benefit pension and SERP plans: | ||||||||||||||||||||||||||||||||
Three Months Ended March 31, | ||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||
(In thousands) | Defined Benefit Pension | SERP | ||||||||||||||||||||||||||||||
Components of net periodic benefit cost: | December 31, | December 31, | ||||||||||||||||||||||||||||||
Service cost | $ | 822 | $ | 1,109 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||
Interest cost | 3,203 | 3,035 | Change in benefit obligation: | |||||||||||||||||||||||||||||
Net benefit obligation at beginning of year | $ | 172,289 | $ | 100,582 | $ | 4,241 | $ | 4,511 | ||||||||||||||||||||||||
Amortization of deferred items | 5 | 1,001 | ||||||||||||||||||||||||||||||
Liability acquired | — | 57,307 | — | — | ||||||||||||||||||||||||||||
Total net periodic benefit cost | $ | 4,030 | $ | 5,145 | ||||||||||||||||||||||||||||
Service cost | 2,346 | 2,139 | — | — | ||||||||||||||||||||||||||||
The following table shows the net periodic postretirement medical benefit costs that relate to current and former mining operations: | ||||||||||||||||||||||||||||||||
Interest cost | 6,209 | 6,330 | 152 | 172 | ||||||||||||||||||||||||||||
Three Months Ended March 31, | Actuarial loss (gain) | (18,972 | ) | 13,121 | (359 | ) | (48 | ) | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||
(In thousands) | Benefits and expenses paid | (6,797 | ) | (7,190 | ) | (394 | ) | (394 | ) | |||||||||||||||||||||||
Former mining operations | $ | 2,403 | $ | 3,119 | Net benefit obligation at end of year | 155,075 | 172,289 | 3,640 | 4,241 | |||||||||||||||||||||||
Current operations | 1,627 | 2,026 | Change in plan assets: | |||||||||||||||||||||||||||||
Fair value of plan assets at the beginning of year | 121,887 | 75,710 | — | — | ||||||||||||||||||||||||||||
Total net periodic benefit cost | $ | 4,030 | $ | 5,145 | ||||||||||||||||||||||||||||
Assets acquired | — | 41,704 | — | — | ||||||||||||||||||||||||||||
The costs for the former mining operations are included in Heritage health benefit expenses and costs for current operations are included in Cost of sales and Selling and administrative expenses. | Actual return on plan assets | 18,414 | 11,502 | — | — | |||||||||||||||||||||||||||
Pension | ||||||||||||||||||||||||||||||||
Employer contributions | 645 | 161 | 394 | 394 | ||||||||||||||||||||||||||||
The Company provides pension benefits to qualified full-time employees pursuant to collective bargaining agreements. | ||||||||||||||||||||||||||||||||
Benefits and expenses paid | (6,797 | ) | (7,190 | ) | (394 | ) | (394 | ) | ||||||||||||||||||||||||
The Company incurred net periodic benefit costs of providing these pension benefits as follows: | Fair value of plan assets at end of year | 134,149 | 121,887 | — | — | |||||||||||||||||||||||||||
Unfunded status at end of year | $ | (20,926 | ) | $ | (50,402 | ) | $ | (3,640 | ) | $ | (4,241 | ) | ||||||||||||||||||||
Three Months Ended March 31, | Amounts recognized in the accompanying balance sheet consist of: | |||||||||||||||||||||||||||||||
2014 | 2013 | Current liability | $ | — | $ | — | $ | (390 | ) | $ | (390 | ) | ||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||
Components of net periodic benefit cost: | Noncurrent liability | (20,926 | ) | (50,401 | ) | (3,250 | ) | (3,850 | ) | |||||||||||||||||||||||
Service cost | $ | 500 | $ | 534 | Accumulated other comprehensive loss | 11,045 | 43,037 | 1,209 | 1,679 | |||||||||||||||||||||||
Interest cost | 1,747 | 1,625 | Net amount recognized at end of year | $ | (9,881 | ) | $ | (7,364 | ) | $ | (2,431 | ) | $ | (2,561 | ) | |||||||||||||||||
Amounts recognized in accumulated other comprehensive loss consist of: | ||||||||||||||||||||||||||||||||
Expected return on plan assets | (2,154 | ) | (2,060 | ) | Net actuarial loss | $ | 11,045 | $ | 43,037 | $ | 1,209 | $ | 1,679 | |||||||||||||||||||
Amortization of deferred items | 359 | 741 | ||||||||||||||||||||||||||||||
$ | 11,045 | $ | 43,037 | $ | 1,209 | $ | 1,679 | |||||||||||||||||||||||||
Total net periodic pension cost | $ | 452 | $ | 840 | ||||||||||||||||||||||||||||
The accumulated benefit obligation for all plans was $158.7 million and $176.5 million at December 31, 2013 and 2012, respectively. The Company’s pension and SERP liabilities decreased $30.1 million in 2013 primarily from increases in discount rates. | ||||||||||||||||||||||||||||||||
These costs are included in Cost of sales and Selling and administrative expenses. | Prior service costs and actuarial gains and losses are amortized over the expected future period of service of the plan’s participants. The following amounts will be amortized from accumulated other comprehensive loss into net periodic benefit cost in 2014 (in millions): | |||||||||||||||||||||||||||||||
The Company contributed $0.6 million of cash contributions to its pension plans in the three months ended March 31, 2014 and expects to make $3.7 million of pension plan contributions during the remainder of 2014. | ||||||||||||||||||||||||||||||||
Pension | SERP | |||||||||||||||||||||||||||||||
Net actuarial loss | $ | 0.8 | $ | 0.1 | ||||||||||||||||||||||||||||
The components of net periodic benefit cost are as follows: | ||||||||||||||||||||||||||||||||
Defined Benefit Pension | SERP | |||||||||||||||||||||||||||||||
Years Ended December 31, | Years Ended December 31, | |||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | 2011 | |||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||
Components of net periodic benefit cost: | ||||||||||||||||||||||||||||||||
Service cost | $ | 2,346 | $ | 2,139 | $ | 784 | $ | — | $ | — | $ | — | ||||||||||||||||||||
Interest cost | 6,209 | 6,330 | 4,568 | 152 | 172 | 215 | ||||||||||||||||||||||||||
Expected return on plan assets | (8,770 | ) | (8,241 | ) | (5,218 | ) | — | — | — | |||||||||||||||||||||||
Amortization of: | ||||||||||||||||||||||||||||||||
Prior service cost | — | — | — | — | — | 5 | ||||||||||||||||||||||||||
Actuarial loss | 3,377 | 2,867 | 1,578 | 112 | 95 | 64 | ||||||||||||||||||||||||||
Total net periodic pension cost | $ | 3,162 | $ | 3,095 | $ | 1,712 | $ | 264 | $ | 267 | $ | 284 | ||||||||||||||||||||
These costs are included in the accompanying statements of operations in Cost of sales and Selling and administrative expenses. | ||||||||||||||||||||||||||||||||
Assumptions | ||||||||||||||||||||||||||||||||
The weighted-average assumptions used to determine the benefit obligations as of the end of each year were as follows: | ||||||||||||||||||||||||||||||||
Defined Benefit Pension | SERP | |||||||||||||||||||||||||||||||
December 31, | December 31, | |||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||
Discount rate | 4.25% - 4.65% | 3.35% - 3.75% | 4.65% | 3.75% | ||||||||||||||||||||||||||||
Measurement date | 31-Dec-13 | December 31, 2012 | 31-Dec-13 | December 31, 2012 | ||||||||||||||||||||||||||||
The discount rate is adjusted annually based on an Aa corporate bond index adjusted for the difference in the duration of the bond index and the duration of the benefit obligations. This rate is calculated using a yield curve, which is developed using the average yield for bonds in the tenth to ninetieth percentiles, which excludes bonds with outlier yields. | ||||||||||||||||||||||||||||||||
The following table provides the assumptions used to determine net periodic benefit cost: | ||||||||||||||||||||||||||||||||
Defined Benefit Pension | SERP | |||||||||||||||||||||||||||||||
Years Ended December 31, | Years Ended December 31, | |||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | 2011 | |||||||||||||||||||||||||||
Discount rate | 3.35% - 3.75% | 4.05% - 4.25% | 5.15% - 5.40% | 3.75% | 4.25% | 5.40% | ||||||||||||||||||||||||||
Expected return on plan assets | 7.40% | 7.40% | 7.40% | N/A | N/A | N/A | ||||||||||||||||||||||||||
Rate of compensation increase | N/A | N/A | N/A | N/A | N/A | N/A | ||||||||||||||||||||||||||
Measurement date | 31-Dec-12 | December 31, | December 31, | 31-Dec-12 | December 31, | December 31, | ||||||||||||||||||||||||||
2011 | 2010 | 2011 | 2010 | |||||||||||||||||||||||||||||
Plan Assets | ||||||||||||||||||||||||||||||||
The Company’s investment goals are to maximize returns subject to specific risk management policies. The Company sets the expected return on plan assets based on historical trends and forecasts provided by its third-party fund managers. Its risk management policies permit investments in mutual funds, and prohibit direct investments in debt and equity securities and derivative financial instruments. The Company invested in its common stock in 2011 in order to meet plan funding requirements. The Company addresses diversification by the use of mutual fund investments whose underlying investments are in fixed income and equity securities, both domestic and international. These mutual funds are readily marketable and can be sold to fund benefit payment obligations as they become payable. | ||||||||||||||||||||||||||||||||
The weighted-average target asset allocation of the Company’s pension trusts were as follows at December 31, 2013: | ||||||||||||||||||||||||||||||||
Target Allocation | ||||||||||||||||||||||||||||||||
Asset category | ||||||||||||||||||||||||||||||||
Cash and equivalents | 0% - 10% | |||||||||||||||||||||||||||||||
Equity securities funds | 20% - 60% | |||||||||||||||||||||||||||||||
Debt securities funds | 40% - 80% | |||||||||||||||||||||||||||||||
Other | 0% - 10% | |||||||||||||||||||||||||||||||
The fair value of the Company’s pension plan assets by asset category is as follows: | ||||||||||||||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||||||||||
Quoted | Significant | Significant | ||||||||||||||||||||||||||||||
Prices in | Other | Unobservable | ||||||||||||||||||||||||||||||
Active | Observable | Inputs | ||||||||||||||||||||||||||||||
Markets for | Inputs | |||||||||||||||||||||||||||||||
Identical | ||||||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||||||
Fair Value | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||
Pooled separate accounts: | ||||||||||||||||||||||||||||||||
Large-cap | $ | 48,983 | $ | — | $ | 48,983 | $ | — | ||||||||||||||||||||||||
International blend | 18,191 | — | 18,191 | — | ||||||||||||||||||||||||||||
Fixed income domestic | 40,944 | — | 40,944 | — | ||||||||||||||||||||||||||||
Fixed income long term | 17,797 | — | 17,797 | — | ||||||||||||||||||||||||||||
Stable Value | 5,267 | — | 5,267 | — | ||||||||||||||||||||||||||||
Registered investment companies – growth fund | — | — | — | — | ||||||||||||||||||||||||||||
Limited partnerships and limited liability companies | 250 | — | — | 250 | ||||||||||||||||||||||||||||
Westmoreland Coal common stock | 2,255 | 2,255 | — | — | ||||||||||||||||||||||||||||
Cash and cash equivalents | 462 | 462 | — | — | ||||||||||||||||||||||||||||
$ | 134,149 | $ | 2,717 | $ | 131,182 | $ | 250 | |||||||||||||||||||||||||
31-Dec-12 | ||||||||||||||||||||||||||||||||
Quoted | Significant | Significant | ||||||||||||||||||||||||||||||
Prices in | Other | Unobservable | ||||||||||||||||||||||||||||||
Active | Observable | Inputs | ||||||||||||||||||||||||||||||
Markets for | Inputs | |||||||||||||||||||||||||||||||
Identical | ||||||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||||||
Fair Value | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||
Pooled separate accounts: | ||||||||||||||||||||||||||||||||
Large-cap | $ | 50,589 | $ | — | $ | 50,589 | $ | — | ||||||||||||||||||||||||
International blend | 10,294 | — | 10,294 | — | ||||||||||||||||||||||||||||
Fixed income domestic | 42,744 | — | 42,744 | — | ||||||||||||||||||||||||||||
Stable value | 3,850 | — | 3,850 | — | ||||||||||||||||||||||||||||
Registered investment companies – growth fund | 10,295 | 10,295 | — | — | ||||||||||||||||||||||||||||
Limited partnerships and limited liability companies | 614 | — | — | 614 | ||||||||||||||||||||||||||||
Westmoreland Coal common stock | 3,500 | 3,500 | — | — | ||||||||||||||||||||||||||||
Cash and cash equivalents | 1 | 1 | — | — | ||||||||||||||||||||||||||||
$ | 121,887 | $ | 13,796 | $ | 107,477 | $ | 614 | |||||||||||||||||||||||||
The Company’s Level 1 assets include securities held by registered investment companies and its common stock, which are both typically valued using quoted market prices of an active market. Cash and cash equivalents and short-term investments are predominantly held in money market accounts. | ||||||||||||||||||||||||||||||||
The Company’s Level 2 assets include pooled separate accounts, which are valued based on the quoted market prices of the securities underlying the investments. | ||||||||||||||||||||||||||||||||
The Company’s Level 3 assets include interest in limited partnerships and limited liability companies that invest in privately held companies or privately held real estate assets. These assets are valued by the respective partnership or company manager using market and income approaches. The market approach consists of using comparable market transactions or values. The income approach consists of the net present value of estimated future cash flows, adjusted as appropriate for liquidity, credit, market and other risk factors. The inputs considered in the valuations include original transaction prices, recent transactions in the same or similar instruments, changes in financial ratios or cash flows, discounted cash flow valuations, and general economic and market conditions. | ||||||||||||||||||||||||||||||||
A summary of changes in the fair value of the Plan’s Level 3 assets is shown below: | ||||||||||||||||||||||||||||||||
Limited partnerships and limited | ||||||||||||||||||||||||||||||||
liability companies | ||||||||||||||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||
Beginning balance | $ | 614 | $ | 1,050 | ||||||||||||||||||||||||||||
Unrealized gain | 5 | 96 | ||||||||||||||||||||||||||||||
Settlements, net | (369 | ) | (532 | ) | ||||||||||||||||||||||||||||
Ending balance | $ | 250 | $ | 614 | ||||||||||||||||||||||||||||
Contributions | ||||||||||||||||||||||||||||||||
Previously, the Company was required by WML loan covenants to ensure that by 8.5 months after the end of the plan year, the value of its pension assets are at least 90% of each of the plan’s year end actuarially determined pension liability. On June 28, 2012, the loan covenant was amended to lower the requirement to 80%. | ||||||||||||||||||||||||||||||||
The Company contributed $0.6 million in cash to its retirement plans during 2013, in order to achieve the required 80% funding status. In 2014, the Company expects to make approximately $4.3 million of pension plan contributions. | ||||||||||||||||||||||||||||||||
Cash Flows | ||||||||||||||||||||||||||||||||
The following benefit payments are expected to be paid from its pension plan assets: | ||||||||||||||||||||||||||||||||
Pension Benefits | ||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||
2014 | $ | 7,324 | ||||||||||||||||||||||||||||||
2015 | 7,772 | |||||||||||||||||||||||||||||||
2016 | 8,238 | |||||||||||||||||||||||||||||||
2017 | 9,066 | |||||||||||||||||||||||||||||||
2018 | 9,321 | |||||||||||||||||||||||||||||||
Years 2019 - 2023 | 50,340 | |||||||||||||||||||||||||||||||
The benefits expected to be paid are based on the same assumptions used to measure the Company’s pension benefit obligation at December 31, 2013 and include estimated future employee service. | ||||||||||||||||||||||||||||||||
Multi-Employer Pension | ||||||||||||||||||||||||||||||||
The Company contributes to the Central Pension Fund, or the Plan, a multiemployer defined benefit pension plan for its WECO, WRI and WSC entities pursuant to collective bargaining agreements. The Plan’s Employer Identification Number is 36-6052390. These employers contribute to the Plan based on a negotiated rate per hour worked per participating employee. For the Plan’s year-end dates of January 31, 2013 and 2012, no single employer contributed more than 5% of total contributions to the Plan. As of the Plan’s year-end date January 31, 2013, it had a healthy or greater than 80% funding status. | ||||||||||||||||||||||||||||||||
The following table shows required information for each employer contributing to the Central Pension Fund: | ||||||||||||||||||||||||||||||||
WECO | WRI | WSC | ||||||||||||||||||||||||||||||
Employer plan number | 9313 | 9243 | 4990 | |||||||||||||||||||||||||||||
Minimum contributions per hour worked | $ | 5.75 | $ | 5.7 | $2.95 - $3.20 | |||||||||||||||||||||||||||
Expiration date of collective bargaining agreements | 2/28/19 | 5/31/15 | 4/1/16 | |||||||||||||||||||||||||||||
Employer contributions (in millions): | ||||||||||||||||||||||||||||||||
2013 | $ | 3.4 | $ | 0.9 | $ | 0.1 | ||||||||||||||||||||||||||
2012 | 3.2 | 0.5 | 0.1 | |||||||||||||||||||||||||||||
2011 | 3.2 | 0.9 | 0.1 | |||||||||||||||||||||||||||||
Other Plans | ||||||||||||||||||||||||||||||||
The Company sponsors 401(k) saving plans, which were established to assist eligible employees provide for their future retirement needs. The Company’s expense was $3.6 million, $2.9 million and $2.7 million for the years ended December 31, 2013, 2012 and 2011, respectively. During 2013, the Company's expense of $3.6 million consisted of $1.2 million in cash contributions and $2.4 million in contributions of Company stock to the plans. During 2012 and 2011, the Company's expense were all from contributions of Company stock to the plans. |
HERITAGE_HEALTH_BENEFIT_EXPENS
HERITAGE HEALTH BENEFIT EXPENSES | 3 Months Ended | 12 Months Ended | ||||||||||||||||||
Mar. 31, 2014 | Dec. 31, 2013 | |||||||||||||||||||
Heritage Health Benefit Expenses [Abstract] | ' | ' | ||||||||||||||||||
HERITAGE HEALTH BENEFIT EXPENSES | ' | ' | ||||||||||||||||||
HERITAGE HEALTH BENEFIT EXPENSES | HERITAGE HEALTH BENEFIT EXPENSES | |||||||||||||||||||
The caption Heritage health benefit expenses used in the consolidated statements of operations refers to costs of benefits the Company provides to its former mining operation employees. The components of these expenses are as follows: | The caption Heritage health benefit expenses used in the consolidated statements of operations refers to costs of benefits the Company provides to its former mining operation employees. The components of these expenses are as follows: | |||||||||||||||||||
Three Months Ended March 31, | Years Ended December 31, | |||||||||||||||||||
2014 | 2013 | 2013 | 2012 | 2011 | ||||||||||||||||
(In thousands) | (In thousands) | |||||||||||||||||||
Health care benefits | $ | 2,276 | $ | 3,176 | Health care benefits | $ | 12,579 | $ | 11,367 | $ | 9,507 | |||||||||
Combined benefit fund payments | 512 | 576 | Combined benefit fund payments | 2,240 | 2,258 | 2,617 | ||||||||||||||
Workers’ compensation benefits | 136 | 116 | Workers’ compensation benefits (credit) | (1,212 | ) | (1,322 | ) | 2,132 | ||||||||||||
Black lung benefits | 620 | 83 | Black lung benefits (credit) | (189 | ) | 1,085 | 4,319 | |||||||||||||
Total | $ | 3,544 | $ | 3,951 | Total | $ | 13,418 | $ | 13,388 | $ | 18,575 | |||||||||
ASSET_RETIREMENT_OBLIGATIONS_C
ASSET RETIREMENT OBLIGATIONS, CONTRACTUAL THIRD-PARTY RECLAMATION RECEIVABLES, AND RECLAMATION DEPOSITS | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||||
Mar. 31, 2014 | Dec. 31, 2013 | |||||||||||||||||||||||
Asset Retirement Obligation Disclosure [Abstract] | ' | ' | ||||||||||||||||||||||
ASSET RETIREMENT OBLIGATIONS, CONTRACTUAL THIRD-PARTY RECLAMATION RECEIVABLES, AND RECLAMATION DEPOSITS | ' | ' | ||||||||||||||||||||||
ASSET RETIREMENT OBLIGATIONS, CONTRACTUAL THIRD-PARTY RECLAMATION RECEIVABLE, AND RECLAMATION DEPOSITS | ASSET RETIREMENT OBLIGATIONS, CONTRACTUAL THIRD-PARTY RECLAMATION RECEIVABLE, AND RECLAMATION DEPOSITS | |||||||||||||||||||||||
The asset retirement obligation, contractual third-party reclamation receivable, and reclamation deposits for each of the Company’s mines and ROVA at March 31, 2014 are summarized below: | The asset retirement obligation, contractual third-party reclamation receivable, and reclamation deposits for each of the Company’s mines and ROVA at December 31, 2013 are summarized below: | |||||||||||||||||||||||
Asset | Contractual | Reclamation | Asset | Contractual | Reclamation | |||||||||||||||||||
Retirement | Third-Party | Deposits | Retirement | Third-Party | Deposits | |||||||||||||||||||
Obligation | Reclamation | Obligation | Reclamation | |||||||||||||||||||||
Receivable | Receivable | |||||||||||||||||||||||
(In thousands) | (In thousands) | |||||||||||||||||||||||
Rosebud | $ | 127,989 | $ | 21,656 | $ | 75,315 | Rosebud | $ | 126,965 | $ | 21,186 | $ | 74,921 | |||||||||||
Jewett | 74,247 | 74,247 | — | Jewett | 75,267 | 75,267 | — | |||||||||||||||||
Absaloka | 37,286 | 346 | — | Absaloka | 36,401 | 337 | — | |||||||||||||||||
Beulah | 17,764 | — | — | Beulah | 17,785 | — | — | |||||||||||||||||
Kemmerer | 17,569 | — | — | Kemmerer | 17,174 | — | — | |||||||||||||||||
Savage | 5,499 | — | — | Savage | 5,380 | — | — | |||||||||||||||||
ROVA | 909 | — | — | ROVA | 892 | — | — | |||||||||||||||||
Total | $ | 281,263 | $ | 96,249 | $ | 75,315 | Total | $ | 279,864 | $ | 96,790 | $ | 74,921 | |||||||||||
Asset Retirement Obligations | Asset Retirement Obligations | |||||||||||||||||||||||
Changes in the Company’s asset retirement obligations were as follows: | Changes in the Company’s asset retirement obligations were as follows: | |||||||||||||||||||||||
Three Months Ended March 31, | Years Ended December 31, | |||||||||||||||||||||||
2014 | 2013 | 2013 | 2012 | |||||||||||||||||||||
(In thousands) | (In thousands) | |||||||||||||||||||||||
Asset retirement obligations, beginning of year (including current portion) | $ | 279,864 | $ | 263,847 | Asset retirement obligations, beginning of year (including current portion) | $ | 263,847 | $ | 247,478 | |||||||||||||||
Accretion | 5,836 | 5,481 | Accretion | 21,905 | 21,909 | |||||||||||||||||||
Liabilities settled | (4,437 | ) | (5,839 | ) | Liabilities settled | (21,630 | ) | (17,342 | ) | |||||||||||||||
Asset retirement obligations, end of period | 281,263 | 263,489 | Changes due to amount and timing of reclamation | 15,742 | (7,575 | ) | ||||||||||||||||||
Less current portion | (22,227 | ) | (23,154 | ) | ARO acquired | — | 19,377 | |||||||||||||||||
Asset retirement obligations, less current portion | $ | 259,036 | $ | 240,335 | ||||||||||||||||||||
Asset retirement obligations, end of year | 279,864 | 263,847 | ||||||||||||||||||||||
Contractual Third-Party Reclamation Receivables | Less current portion | (23,353 | ) | (22,238 | ) | |||||||||||||||||||
At March 31, 2014, the Company has recognized as an asset of $96.2 million as contractual third-party reclamation receivables, representing the present value of customer obligations to reimburse the Company for future reclamation expenditures at the Company’s Rosebud, Jewett and Absaloka Mines. | Asset retirement obligations, less current portion | $ | 256,511 | $ | 241,609 | |||||||||||||||||||
Reclamation Deposits | ||||||||||||||||||||||||
The Company’s reclamation deposits will be used to fund final reclamation activities. The Company’s carrying value and estimated fair value of its reclamation deposits at March 31, 2014 are as follows: | As permittee, the Company or its subsidiaries are responsible for the total amount of final reclamation costs for its mines and ROVA. The financial responsibility for a portion of final reclamation of the mines when they are closed has been transferred by contract to certain customers, while other customers have provided guarantees or funded escrow accounts to cover final reclamation costs. Costs of reclamation of mining pits prior to mine closure are recovered in the price of coal shipped. | |||||||||||||||||||||||
As of December 31, 2013, the Company had $298.6 million in surety bonds outstanding to secure reclamation obligations. | ||||||||||||||||||||||||
Contractual Third-Party Reclamation Receivables | ||||||||||||||||||||||||
Carrying Value | Fair Value | Fair Value Hierarchy | The Company has recognized as an asset $96.8 million as contractual third-party reclamation receivables, representing the present value of customer obligations to reimburse the Company for reclamation expenditures at the Company’s Rosebud, Jewett and Absaloka Mines. | |||||||||||||||||||||
(In thousands) | Reclamation Deposits | |||||||||||||||||||||||
Cash and cash equivalents | $ | 49,627 | $ | 49,627 | Level 1 | The Company’s reclamation deposits will be used to fund final reclamation activities. The Company’s carrying value and estimated fair value of its reclamation deposits at December 31, 2013 are as follows: | ||||||||||||||||||
Held-to-maturity securities | 25,688 | 26,401 | Level 2 | |||||||||||||||||||||
Carrying Value | Fair Value | |||||||||||||||||||||||
$ | 75,315 | $ | 76,028 | (In thousands) | ||||||||||||||||||||
Cash and cash equivalents | $ | 63,525 | $ | 63,525 | ||||||||||||||||||||
Held-to-Maturity Reclamation Deposits | ||||||||||||||||||||||||
The amortized cost, gross unrealized holding gains and losses and fair value of held-to-maturity securities at March 31, 2014 are as follows (in thousands): | Held-to-maturity securities | 11,396 | 12,086 | |||||||||||||||||||||
$ | 74,921 | $ | 75,611 | |||||||||||||||||||||
Amortized cost | $ | 25,688 | ||||||||||||||||||||||
In 2011, the Company recorded a gain of $0.1 million on the sale of available-for-sale securities held as reclamation deposits. | ||||||||||||||||||||||||
Gross unrealized holding gains | 826 | Held-to-Maturity and Available-for-Sale Reclamation Deposits | ||||||||||||||||||||||
The amortized cost, gross unrealized holding gains and losses and fair value of held-to-maturity securities are as follows: | ||||||||||||||||||||||||
Gross unrealized holding losses | (113 | ) | ||||||||||||||||||||||
Fair value | $ | 26,401 | ||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||
Maturities of held-to-maturity securities are as follows at March 31, 2014: | (In thousands) | |||||||||||||||||||||||
Amortized cost | $ | 11,396 | $ | 19,832 | ||||||||||||||||||||
Amortized Cost | Fair Value | Gross unrealized holding gains | 764 | 1,190 | ||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Within one year | $ | 479 | $ | 468 | Gross unrealized holding losses | (74 | ) | (9 | ) | |||||||||||||||
Fair value | $ | 12,086 | $ | 21,013 | ||||||||||||||||||||
Due in five years or less | 17,562 | 17,880 | ||||||||||||||||||||||
Maturities of held-to-maturity securities are as follows at December 31, 2013: | ||||||||||||||||||||||||
Due after five years to ten years | 4,869 | 5,023 | ||||||||||||||||||||||
Due in more than ten years | 2,778 | 3,030 | Amortized Cost | Fair Value | ||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
$ | 25,688 | $ | 26,401 | Within one year | $ | 17 | $ | 17 | ||||||||||||||||
Due in five years or less | 6,645 | 6,976 | ||||||||||||||||||||||
The Company does not intend to sell its held-to-maturity securities and it is not more likely than not that the Company will be required to sell the securities before recovery of amortized cost bases, which may be at maturity. | ||||||||||||||||||||||||
Due after five years to ten years | 3,002 | 3,123 | ||||||||||||||||||||||
Due in more than ten years | 1,732 | 1,970 | ||||||||||||||||||||||
$ | 11,396 | $ | 12,086 | |||||||||||||||||||||
The cost basis, gross unrealized holding gains and fair value of available-for-sale securities are as follows: | ||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Cost basis | $ | — | $ | 1,000 | ||||||||||||||||||||
Gross unrealized holding gains | — | 39 | ||||||||||||||||||||||
Fair value | $ | — | $ | 1,039 | ||||||||||||||||||||
DERIVATIVE_INSTRUMENTS
DERIVATIVE INSTRUMENTS | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||
Mar. 31, 2014 | Dec. 31, 2013 | |||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | ' | ||||||||||||||||||||
DERIVATIVE INSTRUMENTS | ' | ' | ||||||||||||||||||||
DERIVATIVE INSTRUMENTS | DERIVATIVE INSTRUMENTS | |||||||||||||||||||||
Derivative Assets and Liabilities | Derivative Liabilities | |||||||||||||||||||||
The Company evaluates all of its financial instruments to determine if such instruments are derivatives, derivatives that qualify for the normal purchase normal sale exception, or contain features that qualify as embedded derivatives. All derivative financial instruments, except for derivatives that qualify for the normal purchase normal sale exception, are recognized on the balance sheet at fair value. Changes in fair value are recognized in earnings if they are not eligible for hedge accounting or in other comprehensive income if they qualify for cash flow hedge accounting. | The Company evaluates all of its financial instruments to determine if such instruments are derivatives, derivatives that qualify for the normal purchase normal sale exception, or contain features that qualify as embedded derivatives. All derivative financial instruments, except for derivatives that qualify for the normal purchase normal sale exception, are recognized on the balance sheet at fair value. Changes in fair value are recognized in earnings if they are not eligible for hedge accounting or in other comprehensive income if they qualify for cash flow hedge accounting. | |||||||||||||||||||||
In the first quarter of 2014, the Company entered into two foreign currency exchange forward contracts to purchase Canadian Dollars in order to hedge a portion of its exposure to fluctuating rates of exchange on anticipated Canadian Dollar-denominated Sherritt Acquisition cash flows. As of March 31, 2014, the Company had two individual foreign currency exchange forward contracts with external counterparties for a total notional amount of $348.3 million, which both have settlement dates of April 30, 2014. | Convertible Debt | |||||||||||||||||||||
The fair value of outstanding derivative instruments not designated as hedging instruments on the accompanying Consolidated Balance Sheets was as follows (in thousands): | As a part of the Parent Notes offering in February 2011, the Company’s convertible notes were retired. | |||||||||||||||||||||
The effect of derivative instruments not designated as hedging instruments on the accompanying consolidated statements of operations was as follows (in thousands): | ||||||||||||||||||||||
Derivative Instruments | Balance Sheet Location | March 31, 2014 | ||||||||||||||||||||
Canadian dollar foreign exchange forward contracts | Other current assets | $ | 246 | Statement of | Income Recognized in | |||||||||||||||||
Operations Location | Earnings on Derivatives | |||||||||||||||||||||
Canadian dollar foreign exchange forward contracts | Other current liabilities | (7,036 | ) | Years Ended December 31, | ||||||||||||||||||
The effect of derivative instruments not designated as hedging instruments on the accompanying Consolidated Statements of Operations was as follows (in thousands): | Derivative Instrument | 2013 | 2012 | 2011 | ||||||||||||||||||
Convertible debt -conversion feature | Other income (loss) | $ | — | $ | — | $ | 3,079 | |||||||||||||||
Derivative Instruments | Statement of | Three Months Ended March 31, 2014 | ||||||||||||||||||||
Operations Location | ||||||||||||||||||||||
Canadian dollar foreign exchange forward contracts | Loss on foreign exchange | $ | (6,790 | ) |
FAIR_VALUE_MEASUREMENTS
FAIR VALUE MEASUREMENTS | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||||
Mar. 31, 2014 | Dec. 31, 2013 | |||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ' | ||||||||||||||||||||||
FAIR VALUE MEASUREMENTS | ' | ' | ||||||||||||||||||||||
FAIR VALUE MEASUREMENTS | 1 | FAIR VALUE MEASUREMENTS | ||||||||||||||||||||||
Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. See Notes 3, 7 and 8 for additional disclosures related to fair value measurements. | Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company is required to disclose the fair value of financial instruments where practicable. The carrying amounts of cash equivalents, accounts receivable and accounts payable reflected on the consolidated balance sheets approximate the fair value of these instruments due to the short duration to their maturities. Long-term debt fair value estimates are based on observed prices for securities with an active trading market when available (Level 2) and otherwise using discount rate estimates based on interest rates as of December 31, 2013 (Level 3). | |||||||||||||||||||||||
Fair value hierarchy prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy, as defined below, gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. | The estimated fair value of the Company’s debt with fixed interest rates are as follows: | |||||||||||||||||||||||
• | Level 1, defined as observable inputs such as quoted prices in active markets for identical assets. | |||||||||||||||||||||||
Carrying Value | Fair Value | |||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
• | Level 2, 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. | 31-Dec-12 | $ | 345,408 | $ | 359,753 | ||||||||||||||||||
31-Dec-13 | $ | 328,473 | $ | 364,329 | ||||||||||||||||||||
• | Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. | |||||||||||||||||||||||
Long-term debt fair value estimates are based on observed prices for securities with an active trading market when available (Level 2) and otherwise using discount rate estimates based on interest rates as of March 31, 2014 (Level 3). The estimated fair values of the Company’s debt with fixed interest rates are as follows: | The table below sets forth, by level, the Company’s financial assets and liabilities that are accounted for at fair value on a recurring basis: | |||||||||||||||||||||||
Carrying Value | Fair Value | Year Ended December 31, 2012 | ||||||||||||||||||||||
(In thousands) | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||
31-Dec-13 | $ | 328,473 | $ | 364,329 | (In thousands) | |||||||||||||||||||
Assets: | ||||||||||||||||||||||||
March 31, 2014 | $ | 777,670 | $ | 823,603 | Available-for-sale investments included in Restricted investments and bond collateral | $ | 191 | $ | — | $ | — | $ | 191 | |||||||||||
The Company uses derivative financial instruments, primarily foreign exchange contracts, to reduce its exposure to market risks from changes in foreign exchange rates. These foreign exchange contracts are measured at fair value using quoted forward foreign exchange prices from counterparties corroborated by market-based pricing (Level 2). Additional information related to the Company’s derivative financial instruments is disclosed in Note 1 and Note 8 to the consolidated financial statements. | Available-for-sale investments included in Reclamation deposits | 1,039 | — | — | 1,039 | |||||||||||||||||||
The Company’s non-recurring fair value measurements include asset retirement obligations (refer to Note 7). | ||||||||||||||||||||||||
The Company determines the estimated fair value of its asset retirement obligations by calculating the present value of estimated cash flows related to reclamation liabilities using Level 3 inputs. The significant inputs used to calculate such liabilities includes estimates of costs to be incurred, the Company’s credit adjusted discount rate, inflation rates and estimated dates of reclamation. The asset retirement liability is accreted to its present value each period and the capitalized asset retirement cost is depleted using the units-of-production method. | Total assets | $ | 1,230 | $ | — | $ | — | $ | 1,230 | |||||||||||||||
The fair value of assets and liabilities acquired through business combinations is calculated using a discounted-cash flow approach using Level 3 inputs. Cash flow estimates require forecasts and assumptions for many years into the future for a variety of factors. | ||||||||||||||||||||||||
RESTRICTED_STOCK_UNITS_STOCK_O
RESTRICTED STOCK UNITS, STOCK OPTIONS, AND STOCK APPRECIATION RIGHTS (SARs) | 3 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||||||
Mar. 31, 2014 | Dec. 31, 2013 | ||||||||||||||||||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ' | |||||||||||||||||||||||||||||||||
RESTRICTED STOCK UNITS, STOCK OPTIONS, AND STOCK APPRECIATION RIGHTS (SARs) | ' | ' | |||||||||||||||||||||||||||||||||
SHARE-BASED COMPENSATION | RESTRICTED STOCK UNITS, STOCK OPTIONS, AND STOCK APPRECIATION RIGHTS (SARs) | ||||||||||||||||||||||||||||||||||
As of December 31, 2013, the Company had restricted stock units, stock options, and stock-settled stock appreciation rights, or SARs, outstanding from three stock incentive plans. Two of these plans were terminated in October 2009. The Company grants employees and non-employee directors restricted stock units from the Amended and Restated 2007 Equity Incentive Stock Plan. The Amended and Restated 2007 Equity Incentive Stock Plan provides that non-employee directors will receive equity awards of 7,000 shares after each annual meeting. | |||||||||||||||||||||||||||||||||||
The Company grants employees and non-employee directors restricted stock units from the Amended and Restated 2007 Equity Incentive Stock Plan. | The maximum number of remaining shares that can be issued under the 2007 Incentive Stock Plan is 49,050. | ||||||||||||||||||||||||||||||||||
Compensation cost arising from share-based arrangements is shown in the following table: | |||||||||||||||||||||||||||||||||||
The Company recognized compensation expense from share-based arrangements shown in the following table: | |||||||||||||||||||||||||||||||||||
Years Ended December 31, | |||||||||||||||||||||||||||||||||||
Three Months Ended March 31, | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||||||||
2014 | 2013 | (In thousands) | |||||||||||||||||||||||||||||||||
(In thousands) | Recognition of fair value of restricted stock units, stock options and SARs over vesting period; and issuance of stock | $ | 2,967 | $ | 3,088 | $ | 1,969 | ||||||||||||||||||||||||||||
Recognition of fair value of restricted stock units, stock options and SARs over vesting period; and issuance of stock | $ | 728 | $ | 1,663 | |||||||||||||||||||||||||||||||
Contributions of stock to the Company’s 401(k) plan | 2,355 | 2,952 | 2,752 | ||||||||||||||||||||||||||||||||
Contributions of stock to the Company's 401(k) plan | — | 723 | |||||||||||||||||||||||||||||||||
Total share-based compensation expense | $ | 5,322 | $ | 6,040 | $ | 4,721 | |||||||||||||||||||||||||||||
Total share-based compensation expense | $ | 728 | $ | 2,386 | |||||||||||||||||||||||||||||||
Restricted Stock Units | |||||||||||||||||||||||||||||||||||
The Company may issue restricted stock units, which requires no payment from the employee. Restricted stock units typically vest ratably over three years. Upon vesting, the Company can elect to settle the restricted stock units in either cash or the Company’s common stock. Compensation expense is based on the fair value on the grant date and is recorded ratably over the vesting period. | |||||||||||||||||||||||||||||||||||
Restricted Stock Units | In April 2013, the Company granted 54,730 restricted stock units, of which 27,366 units will vest ratably over a three-year period. The remaining 27,364 units are performance based, which will vest and pay out at the end of a three-year period if performance goals are met. The Company’s management believes it is probable that the target performance condition will be met. | ||||||||||||||||||||||||||||||||||
A summary of restricted stock award activity for the year ended December 31, 2013 is as follows: | |||||||||||||||||||||||||||||||||||
A summary of restricted stock award activity for the three months ended March 31, 2014 is as follows: | |||||||||||||||||||||||||||||||||||
Units | Weighted Average | Unamortized | |||||||||||||||||||||||||||||||||
Units | Weighted | Unamortized | Grant-Date Fair | Compensation | |||||||||||||||||||||||||||||||
Average | Compensation | Value | Expense | ||||||||||||||||||||||||||||||||
Grant-Date | Expense | (In thousands) | |||||||||||||||||||||||||||||||||
Fair Value | (In thousands) | Non-vested at December 31, 2012 | 680,185 | $ | 8.88 | ||||||||||||||||||||||||||||||
Non-vested at December 31, 2013 | 588,727 | $ | 9.37 | ||||||||||||||||||||||||||||||||
Granted | 103,730 | $ | 11.7 | ||||||||||||||||||||||||||||||||
Granted | — | — | |||||||||||||||||||||||||||||||||
Vested | (195,940 | ) | $ | 8.62 | |||||||||||||||||||||||||||||||
Vested | — | — | |||||||||||||||||||||||||||||||||
Forfeited | — | $ | — | ||||||||||||||||||||||||||||||||
Non-vested at March 31, 2014 | 588,727 | $ | 9.37 | $ | 1,618 | (1) | |||||||||||||||||||||||||||||
Non-vested at December 31, 2013 | 587,975 | $ | 9.46 | $ | 2,346 | (1) | |||||||||||||||||||||||||||||
____________________ | |||||||||||||||||||||||||||||||||||
____________________ | |||||||||||||||||||||||||||||||||||
-1 | Expected to be recognized over the next three years. | ||||||||||||||||||||||||||||||||||
Stock Options | -1 | Expected to be recognized over the next three years. | |||||||||||||||||||||||||||||||||
A summary of stock option activity for the three months ended March 31, 2014 is as follows: | Additional information related to restricted stock units: | ||||||||||||||||||||||||||||||||||
Stock Options | Weighted | Weighted | Aggregate Intrinsic | Unamortized | Years Ended December 31: | Weighted | Total | ||||||||||||||||||||||||||||
Average | Average | Value | Compensation | Average | Grant- Date | ||||||||||||||||||||||||||||||
Exercise Price | Remaining | (In thousands) | Expense | Grant-Date | Fair Value of | ||||||||||||||||||||||||||||||
Contractual | (In thousands) | Fair Value | Restricted Stock | ||||||||||||||||||||||||||||||||
Life | Units that Vested | ||||||||||||||||||||||||||||||||||
(In years) | (In thousands) | ||||||||||||||||||||||||||||||||||
Outstanding at December 31, 2013 | 145,806 | $ | 21.97 | 2013 | $ | 11.7 | $ | 1,689 | |||||||||||||||||||||||||||
Exercised | — | $ | — | 2012 | $ | 7.57 | $ | 1,336 | |||||||||||||||||||||||||||
Expired | — | $ | — | 2011 | $ | 14.99 | $ | 1,757 | |||||||||||||||||||||||||||
Outstanding and exercisable at March 31, 2014 | 145,806 | $ | 21.97 | 4 | $ | 1,139 | $ | — | Stock Options | ||||||||||||||||||||||||||
Stock options generally vest over three years, expire ten years from the date of grant, and have an option price equal to the market value of the stock on the date of grant. | |||||||||||||||||||||||||||||||||||
There were no stock options granted during the three months ended March 31, 2014. | Information with respect to stock option activity for the year ended December 31, 2013, is as follows: | ||||||||||||||||||||||||||||||||||
SARs | |||||||||||||||||||||||||||||||||||
A summary of SARs activity for the three months ended March 31, 2014 is as follows: | |||||||||||||||||||||||||||||||||||
Stock Options | Weighted | Weighted | Aggregate | Unamortized | |||||||||||||||||||||||||||||||
Average | Average | Intrinsic | Compensation | ||||||||||||||||||||||||||||||||
SARs | Weighted | Weighted | Aggregate Intrinsic | Unamortized | Exercise Price | Remaining | Value | Expense | |||||||||||||||||||||||||||
Average Exercise Price | Average | Value | Compensation | Contractual | (In thousands) | (In thousands) | |||||||||||||||||||||||||||||
Remaining | (In thousands) | Expense | Life | ||||||||||||||||||||||||||||||||
Contractual | (In thousands) | (In years) | |||||||||||||||||||||||||||||||||
Life | Outstanding at December 31, 2012 | 170,823 | $ | 21.3 | |||||||||||||||||||||||||||||||
(In years) | |||||||||||||||||||||||||||||||||||
Outstanding at December 31, 2013 | 70,734 | $ | 22.6 | Expired | (25,017 | ) | $ | 17.41 | |||||||||||||||||||||||||||
Exercised | (25,667 | ) | $ | — | Outstanding and exercisable at December 31, 2013 | 145,806 | $ | 21.97 | 4.254 | $ | — | $ | — | ||||||||||||||||||||||
Expired | — | $ | — | Additional information related to stock options: | |||||||||||||||||||||||||||||||
Outstanding and exercisable at March 31, 2014 | 45,067 | $ | 23.95 | 1.9 | $ | 352 | $ | — | |||||||||||||||||||||||||||
Years Ended December 31: | Intrinsic Value of | Total Grant-Date | |||||||||||||||||||||||||||||||||
Stock Options | Fair Value of Stock | ||||||||||||||||||||||||||||||||||
There were no SARs granted during the three months ended March 31, 2014. | Exercised | Options that Vested | |||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||
2013 | $ | — | $ | — | |||||||||||||||||||||||||||||||
2012 | $ | — | $ | — | |||||||||||||||||||||||||||||||
2011 | $ | 86 | $ | 538 | |||||||||||||||||||||||||||||||
There were no stock options granted during 2013, 2012 or 2011. | |||||||||||||||||||||||||||||||||||
SARs | |||||||||||||||||||||||||||||||||||
SARs generally vest over three years, expire ten years from the date of grant, and have a base price equal to the market value of the stock on the date of grant. Upon vesting, the holders may exercise the SARs and receive a number of shares of common stock having a value equal to the appreciation in the value of the common stock between the grant date and the exercise date. | |||||||||||||||||||||||||||||||||||
Information with respect to SARs granted and outstanding for the year ended December 31, 2013 is as follows: | |||||||||||||||||||||||||||||||||||
SARs | Weighted | Weighted | Aggregate | Unamortized | |||||||||||||||||||||||||||||||
Average Exercise Price | Average | Intrinsic | Compensation | ||||||||||||||||||||||||||||||||
Remaining | Value | Expense | |||||||||||||||||||||||||||||||||
Contractual | (In thousands) | (In thousands) | |||||||||||||||||||||||||||||||||
Life | |||||||||||||||||||||||||||||||||||
(In years) | |||||||||||||||||||||||||||||||||||
Outstanding at December 31, 2012 | 70,734 | $ | 22.6 | ||||||||||||||||||||||||||||||||
Expired | — | $ | — | ||||||||||||||||||||||||||||||||
Outstanding and exercisable at December 31, 2013 | 70,734 | $ | 22.6 | 1.7 | $ | — | $ | — | |||||||||||||||||||||||||||
There were no SARs granted or exercised during 2013, 2012, or 2011. | |||||||||||||||||||||||||||||||||||
The total grant-date fair value of SARs that vested was less than $0.1 million in 2011. No SARs vested during 2012 or 2013. |
STOCKHOLDERS_EQUITY_AND_ACCUMU
STOCKHOLDERS' EQUITY AND ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||
Mar. 31, 2014 | Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||
Equity [Abstract] | ' | ' | ||||||||||||||||||||||||||||||||||
STOCKHOLDERS' EQUITY AND ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) | ' | ' | ||||||||||||||||||||||||||||||||||
SHAREHOLDERS’ EQUITY AND ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) | ||||||||||||||||||||||||||||||||||||
13 | STOCKHOLDERS’ EQUITY AND ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) | |||||||||||||||||||||||||||||||||||
Preferred Stock | Preferred and Common Stock | |||||||||||||||||||||||||||||||||||
The Company has two classes of capital stock outstanding, common stock, par value $2.50 per share, and Series A Convertible Exchangeable Preferred Stock on which cumulative dividends of $2.125 per share are payable quarterly. Each share of Series A Preferred Stock is represented by four Depositary Shares. Under the terms of the Series A Preferred Stock, the Company can redeem preferred shares at any time for the redemption value of $100.00 plus any accumulated dividends paid in cash. In February 2011, the Company paid $19.9 million of accumulated preferred stock dividends as of January 1, 2011. The Company is permitted to pay preferred stock dividends to the extent there is a surplus, defined by Delaware law. In June 2011, approximately 169 shares of preferred stock were converted into 1,152 shares of common stock. Subsequent to December 31, 2013 and through February 25, 2014, approximately 37,300 shares of preferred stock were converted into 254,822 shares of common stock. The Company paid $1.4 million of preferred stock dividends for the year ended December 31, 2013. | ||||||||||||||||||||||||||||||||||||
The Company has outstanding Series A Convertible Exchangeable Preferred Stock on which cumulative dividends of $2.125 per share are payable quarterly. The Company paid $0.3 million of preferred stock dividends for the three months ended March 31, 2014. During the three months ended March 31, 2014, approximately 38,737 shares of preferred stock were converted into 264,641 shares of common stock. Subsequent to March 31, 2014 and through April 23, 2014, approximately 7,830 shares of preferred stock were converted into 53,486 shares of common stock. | Accumulated Other Comprehensive Income (Loss) | |||||||||||||||||||||||||||||||||||
The following is a summary of accumulated other comprehensive income (loss): | ||||||||||||||||||||||||||||||||||||
Changes in Accumulated Other Comprehensive Income | ||||||||||||||||||||||||||||||||||||
The following table reflects the changes in accumulated other comprehensive loss by component: | Pension and | Available for | Tax Effect of | Accumulated | ||||||||||||||||||||||||||||||||
Postretirement | Sale | Other | Other | |||||||||||||||||||||||||||||||||
Medical Benefits | Securities | Comprehensive | Comprehensive | |||||||||||||||||||||||||||||||||
Pension | Postretirement | Tax effect of | Accumulated | Income Gains | Loss | |||||||||||||||||||||||||||||||
medical benefits | other | other | (In thousands) | |||||||||||||||||||||||||||||||||
comprehensive | comprehensive | Balance at January 1, 2011 | $ | (32,049 | ) | $ | 525 | $ | (26,156 | ) | $ | (57,680 | ) | |||||||||||||||||||||||
income gains | loss | |||||||||||||||||||||||||||||||||||
(In thousands) | 2011 activity | (63,575 | ) | (200 | ) | — | (63,775 | ) | ||||||||||||||||||||||||||||
Balance at December 31, 2013 | $ | (12,255 | ) | $ | (20,292 | ) | $ | (31,048 | ) | $ | (63,595 | ) | ||||||||||||||||||||||||
Other comprehensive income (loss) before reclassifications | — | — | (138 | ) | (138 | ) | Balance at December 31, 2011 | (95,624 | ) | 325 | (26,156 | ) | (121,455 | ) | ||||||||||||||||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | 359 | 5 | — | 364 | 2012 activity | (26,622 | ) | (268 | ) | — | (26,890 | ) | ||||||||||||||||||||||||
Balance at March 31, 2014 | $ | (11,896 | ) | $ | (20,287 | ) | $ | (31,186 | ) | $ | (63,369 | ) | Balance at December 31, 2012 | (122,246 | ) | 57 | (26,156 | ) | (148,345 | ) | ||||||||||||||||
The following table reflects the reclassifications out of accumulated other comprehensive loss for the three months ended March 31, 2014 are as follows (in thousands): | ||||||||||||||||||||||||||||||||||||
2013 activity | 89,699 | (57 | ) | (4,892 | ) | 84,750 | ||||||||||||||||||||||||||||||
Details about accumulated other comprehensive loss components | Amount reclassified from accumulated | Affected line item | Balance at December 31, 2013 | $ | (32,547 | ) | $ | — | $ | (31,048 | ) | $ | (63,595 | ) | ||||||||||||||||||||||
other comprehensive loss1 | in the statement | |||||||||||||||||||||||||||||||||||
where net income | ||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, 2014 | (loss) is presented | Pension and postretirement medical benefit adjustments relate to changes in the funded status of various benefit plans. The unrealized gains and losses associated with recognizing the Company’s “available-for-sale” securities at fair value are recorded through Accumulated other comprehensive loss. | ||||||||||||||||||||||||||||||||||
Amortization of defined benefit pension items | ||||||||||||||||||||||||||||||||||||
Actuarial losses | $ | 359 | 2 | Changes in Accumulated Other Comprehensive Income | ||||||||||||||||||||||||||||||||
Amortization of postretirement medical items | The following table reflects the changes in accumulated other comprehensive income (loss) by component: | |||||||||||||||||||||||||||||||||||
Prior service costs | $ | (159 | ) | 3 | ||||||||||||||||||||||||||||||||
Actuarial losses | 164 | 3 | ||||||||||||||||||||||||||||||||||
Pension | Postretirement | Available for | Tax effect of | Accumulated | ||||||||||||||||||||||||||||||||
$ | 5 | Total | medical benefits | sale | other | other | ||||||||||||||||||||||||||||||
securities | comprehensive | comprehensive | ||||||||||||||||||||||||||||||||||
____________________ | income gains | loss | ||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||
-1 | Amounts in parentheses indicate debits to income/loss. | Balance at December 31, 2012 | $ | (44,719 | ) | $ | (77,527 | ) | $ | 57 | $ | (26,156 | ) | $ | (148,345 | ) | ||||||||||||||||||||
-2 | These accumulated other comprehensive loss components are included in the computation of net periodic pension cost. (See Note 5 - Pension for additional details) | Other comprehensive income before reclassifications | 28,974 | 53,230 | (45 | ) | (4,892 | ) | 77,267 | |||||||||||||||||||||||||||
-3 | These accumulated other comprehensive loss components are included in the computation of net periodic postretirement medical cost. (See Note 5 - Postretirement Medical Benefits for additional details) | Amounts reclassified from accumulated other comprehensive income (loss) | 3,490 | 4,005 | (12 | ) | — | 7,483 | ||||||||||||||||||||||||||||
Balance at December 31, 2013 | $ | (12,255 | ) | $ | (20,292 | ) | $ | — | $ | (31,048 | ) | $ | (63,595 | ) | ||||||||||||||||||||||
The following table reflects the reclassifications out of accumulated other comprehensive income (loss) for the year ended December 31, 2013 (in thousands): | ||||||||||||||||||||||||||||||||||||
Details about accumulated other comprehensive income (loss) components | Amount reclassified from accumulated | Affected line item | ||||||||||||||||||||||||||||||||||
other comprehensive income (loss)(1) | in the statement | |||||||||||||||||||||||||||||||||||
where net income | ||||||||||||||||||||||||||||||||||||
(loss) is presented | ||||||||||||||||||||||||||||||||||||
Available-for sale securities | ||||||||||||||||||||||||||||||||||||
Realized gains and losses on available-for sale securities | $ | (12 | ) | Other income (loss) | ||||||||||||||||||||||||||||||||
$ | (12 | ) | Total | |||||||||||||||||||||||||||||||||
Amortization of defined benefit pension items: | ||||||||||||||||||||||||||||||||||||
Actuarial losses | $ | 3,490 | (2) | |||||||||||||||||||||||||||||||||
Amortization of postretirement medical items: | ||||||||||||||||||||||||||||||||||||
Prior service costs | $ | (636 | ) | (3) | ||||||||||||||||||||||||||||||||
Actuarial losses | 4,641 | (3) | ||||||||||||||||||||||||||||||||||
$ | 4,005 | Total | ||||||||||||||||||||||||||||||||||
____________________ | ||||||||||||||||||||||||||||||||||||
-1 | Amounts in parentheses indicate debits to income/loss. | |||||||||||||||||||||||||||||||||||
-2 | These accumulated other comprehensive income components are included in the computation of net periodic pension cost. (See Note 7 - Pension and Other Savings Plans for additional details) | |||||||||||||||||||||||||||||||||||
-3 | These accumulated other comprehensive income components are included in the computation of net periodic postretirement medical cost. (See Note 6 - Postretirement Medical Benefits for additional details) |
INCOME_TAX
INCOME TAX | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||
INCOME TAX | ' | |||||||||||
INCOME TAX | ||||||||||||
Income tax expense (benefit) attributable to net loss before income taxes consists of: | ||||||||||||
Years Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(In thousands) | ||||||||||||
Current: | ||||||||||||
Federal | $ | (2 | ) | $ | (8 | ) | $ | (174 | ) | |||
State | 112 | 98 | 168 | |||||||||
110 | 90 | (6 | ) | |||||||||
Deferred: | ||||||||||||
Federal | (4,189 | ) | — | — | ||||||||
State | (703 | ) | — | (420 | ) | |||||||
(4,892 | ) | — | (420 | ) | ||||||||
Income tax expense (benefit) | $ | (4,782 | ) | $ | 90 | $ | (426 | ) | ||||
Income tax expense (benefit) attributable to net loss before income taxes differed from the amounts computed by applying the statutory Federal income tax rate of 34% to pre-tax income as a result of the following: | ||||||||||||
Years Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(In thousands) | ||||||||||||
Computed tax benefit at statutory rate | $ | (4,389 | ) | $ | (4,615 | ) | $ | (12,683 | ) | |||
Increase (decrease) in tax expense resulting from: | ||||||||||||
Tax depletion in excess of basis | (6,187 | ) | (4,782 | ) | (3,820 | ) | ||||||
Non-deductible interest expense | — | — | 3,717 | |||||||||
Noncontrolling interest | 1,167 | 2,188 | 1,283 | |||||||||
State income taxes, net | (2,506 | ) | (3,427 | ) | (4,548 | ) | ||||||
Change in valuation allowance for net deferred tax assets | 15 | 8,571 | 2,923 | |||||||||
Indian Coal Tax Credits | 92 | 83 | (122 | ) | ||||||||
Federal and state NOL expiration | — | 153 | 11,226 | |||||||||
Change in state effective tax rate | 6,202 | 2,049 | 1,310 | |||||||||
Other, net | 824 | (130 | ) | 288 | ||||||||
Income tax expense (benefit) | $ | (4,782 | ) | $ | 90 | $ | (426 | ) | ||||
For the year ended December 31, 2013, the Company recorded a tax benefit of approximately $4.9 million due to non-cash income tax expense related to gains recorded within other comprehensive income during 2013. Generally accepted accounting principles, or GAAP, requires all items be considered, including items recorded in other comprehensive income, in determining the amount of tax benefit that results from a loss from continuing operations that should be allocated to continuing operations. In accordance with GAAP, the Company recorded a tax benefit on its loss from continuing operations, which was exactly offset by income tax expense on other comprehensive income as follows: | ||||||||||||
Loss From | Other | Total | ||||||||||
Continuing | Comprehensive | Comprehensive | ||||||||||
Operations | Income | Income | ||||||||||
(In thousands) | ||||||||||||
Pre-allocation | $ | 110 | $ | — | $ | 110 | ||||||
Tax allocation | (4,892 | ) | 4,892 | — | ||||||||
As presented | $ | (4,782 | ) | $ | 4,892 | $ | 110 | |||||
Components of OCI gain: | ||||||||||||
Gross | Tax Allocation | |||||||||||
Pension | $ | 32,464 | $ | 1,772 | ||||||||
Post-retirement benefits | 57,235 | 3,123 | ||||||||||
Unrealized gain (loss) on securities | (57 | ) | (3 | ) | ||||||||
Total | $ | 89,642 | $ | 4,892 | ||||||||
The PPACA reduces the tax benefits available to an employer that receives the Medicare Part D subsidy beginning in years ending after December 31, 2010. As a result of the PPACA, employers that receive the Medicare Part D subsidy will recognize the deferred tax effects of the reduced deductibility of the postretirement prescription drug coverage in the period the PPACA was enacted. On March 30, 2010, a companion bill, the Reconciliation Act, was signed into law. The Reconciliation Act reduces the effect of the PPACA on affected employers by deferring for two years (until years ending after December 31, 2012) the reduced deductibility of the postretirement prescription drug coverage. Accounting for income taxes requires that the effect of adjusting the deferred tax asset for the elimination of this deduction be included in income from continuing operations. However, entities that have a full valuation allowance for this deferred tax asset would recognize a related decrease in the valuation allowance. As the Company has a full valuation allowance against its related deferred tax asset, this change in tax law regarding the Medicare Part D subsidy will not have an effect on the Company’s income from continuing operations. | ||||||||||||
On September 13, 2013, the IRS issued T.D. 9636, Guidance Regarding Deduction and Capitalization of Expenditures Related to Tangible Property (the Repairs Regulations) under IRC Sections 162(a) and 263(a) with an effective date of January 1, 2014. These address when costs incurred to acquire, produce or improve tangible property must be capitalized or may be deducted as incurred. Management is currently reviewing and analyzing the final repair Regulations and have estimated the effect to be a reduction in the deferred tax asset of approximately $4.5 million, tax effected. The amount will be confirmed as new data is analyzed and when the companion Regulations governing general asset accounts and the disposition of depreciable property are finalized. | ||||||||||||
The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities are presented below: | ||||||||||||
December 31, | ||||||||||||
2013 | 2012 | |||||||||||
(In thousands) | ||||||||||||
Deferred tax assets: | ||||||||||||
Federal net operating loss carryforwards | $ | 89,698 | $ | 84,330 | ||||||||
State net operating loss carryforwards | 26,509 | 28,700 | ||||||||||
Alternative minimum tax credit carryforwards | 7,179 | 6,973 | ||||||||||
Charitable contribution carryforwards | 146 | 132 | ||||||||||
Indian Coal Tax Credit carryforwards | 25,499 | 25,591 | ||||||||||
Accruals for the following: | ||||||||||||
Workers’ compensation | 2,726 | 3,592 | ||||||||||
Postretirement medical benefit and pension obligations | 106,912 | 138,710 | ||||||||||
Incentive plans | 1,606 | 1,995 | ||||||||||
Asset retirement obligations | 68,989 | 77,698 | ||||||||||
Deferred revenues | 18,919 | 22,500 | ||||||||||
Excess of pneumoconiosis benefit obligation over trust assets | 3,262 | 3,185 | ||||||||||
Acquisition Costs | 1,276 | 198 | ||||||||||
Restructuring | 1,909 | — | ||||||||||
Other accruals | 6,656 | 6,035 | ||||||||||
Total gross deferred assets | 361,286 | 399,639 | ||||||||||
Less valuation allowance | (264,464 | ) | (293,504 | ) | ||||||||
Net deferred tax assets | 96,822 | 106,135 | ||||||||||
Deferred tax liabilities: | ||||||||||||
Property, plant and equipment, differences due to depreciation and amortization | (94,868 | ) | (104,992 | ) | ||||||||
Other | (1,954 | ) | (1,143 | ) | ||||||||
Total gross deferred tax liabilities | (96,822 | ) | (106,135 | ) | ||||||||
Net deferred tax asset | $ | — | $ | — | ||||||||
As of December 31, 2013, the Company had significant deferred tax assets. The deferred tax assets include federal and state regular net operating losses, or NOLs, alternative minimum tax, or AMT, credit carryforwards, Indian Coal Tax Credit, or ICTC, carryforwards, charitable contribution carryforwards, and net deductible reversing temporary differences related to on-going differences between book and taxable income. | ||||||||||||
The Company believes it will be taxed under the AMT system for the foreseeable future due to the significant amount of statutory tax depletion in excess of book depletion expected to be generated by its mining operations. As a result, Westmoreland has determined that a valuation allowance is required for all of its regular federal net operating loss carryforwards and AMT credit carryforwards, since they are only available to offset future regular taxes. As of December 31, 2013, the Company has an estimated $7.2 million of AMT credit carryforwards, which have an indefinite carryover life, with no expiration. | ||||||||||||
As of December 31, 2013, the Company has an estimated $25.5 million in ICTC carryforwards that are available to offset the Company's regular tax and AMT liabilities. The Company has determined that a full valuation allowance is required for all its ICTC carryforward. The ICTC can generally be used to offset AMT liability. The Company does not believe it has sufficient positive evidence of significant magnitude to substantiate that its deferred tax asset for the ICTC carryforward is realizable at a more-likely-than-not level of assurance. As a result, the Company will continue to record a full valuation allowance on its ICTC carryforward; reversing valuation allowance only if utilized in a future year. ICTC credits are a general business credit with a 20-year carryforward period. The majority of the credits will expire in years 2020-2033. | ||||||||||||
The Company has determined that since its net deductible temporary differences will not reverse for the foreseeable future, and it is unable to forecast that it will have regular taxable income when they do reverse, a full valuation allowance is required for these deferred tax assets. | ||||||||||||
As of December 31, 2013, the Company has available Federal net operating loss carryforwards to reduce future regular taxable income, which expire as follows: | ||||||||||||
Expiration Date | Regular Tax | |||||||||||
(In thousands) | ||||||||||||
2018 | $ | 28 | ||||||||||
2019 | 88,429 | |||||||||||
2020 | 32 | |||||||||||
2021 | 20 | |||||||||||
after 2022 | 176,413 | |||||||||||
Total | $ | 264,922 | ||||||||||
As of December 31, 2013, the Company also has an estimated $701 million in state net operating loss carryforwards, expiring in years 2016 through 2033, to reduce future taxable income. The Company has recorded a full valuation allowance for all of its state net operating losses since it believes they will not be realized in the foreseeable future. A portion of our deferred tax assets include NOL benefits that if realized would result in an increase to other paid-in capital. | ||||||||||||
As of December 31, 2013, Westmoreland had no liability related to uncertain tax positions. The Company has elected under ASC 740-10-40 to recognize interest and penalties related to income tax matters in income tax expense. | ||||||||||||
The Company files tax returns in the U.S. federal jurisdiction and in various U.S. state jurisdictions, and is subject to examination by taxing authorities in all of these jurisdictions. From time to time, the Company's tax returns are reviewed or audited by various U.S. federal and state taxing authorities. The Company believes that adjustments, if any, resulting from these reviews or audits would not be material, individually or in the aggregate, to the Company's financial position, results of operations or liquidity. It is reasonably possible that the amount of unrecognized tax benefits related to certain of the Company's tax positions will increase or decrease in the next twelve months as audits or reviews are initiated and settled. At this time, an estimate of the range of a reasonably possible change cannot be made. With few exceptions, the Company is not subject to income tax examinations by U.S. federal or state jurisdictions for fiscal years prior to 2010. |
COMMITMENTS_AND_CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 3 Months Ended | 12 Months Ended | |||||||
Mar. 31, 2014 | Dec. 31, 2013 | ||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | ' | |||||||
COMMITMENTS AND CONTINGENCIES | ' | ' | |||||||
CONTINGENCIES | COMMITMENTS AND CONTINGENCIES | ||||||||
Supply Agreements | |||||||||
The Company is a party to routine claims and lawsuits with respect to various matters. The Company provides for costs related to contingencies when a loss is probable and the amount is reasonably estimable. After conferring with counsel, it is the opinion of management that the ultimate resolution of pending claims will not have a material adverse effect on the consolidated financial condition, results of operations, or liquidity of the Company. | Westmoreland Partners, which owns ROVA, has two coal supply agreements with TECO Coal Corporation, or TECO, that includes minimum purchase requirements. At the current pricing, Westmoreland Partners is obligated to pay TECO $17.9 million for 2014 and $2.9 million for 2015. | ||||||||
Leases | |||||||||
The following shows the gross value and accumulated amortization of property, plant and equipment and mine development assets under capital leases related primarily to the leasing of mining equipment: | |||||||||
2013 | 2012 | ||||||||
(In thousands) | |||||||||
Gross value | $ | 24,982 | $ | 34,677 | |||||
Accumulated amortization | 11,983 | 15,887 | |||||||
Future minimum capital and operating lease payments as of December 31, 2013, are as follows: | |||||||||
Capital | Operating | ||||||||
Leases | Leases | ||||||||
(In thousands) | |||||||||
2014 | $ | 5,949 | $ | 7,896 | |||||
2015 | 2,419 | 5,156 | |||||||
2016 | 1,548 | 2,584 | |||||||
2017 | 495 | 1,256 | |||||||
2018 | 316 | 515 | |||||||
Thereafter | — | — | |||||||
Total minimum lease payments | 10,727 | $ | 17,407 | ||||||
Less imputed interest | (574 | ) | |||||||
Present value of minimum capital lease payments | $ | 10,153 | |||||||
Rental expense under operating leases during the years ended December 31, 2013, 2012 and 2011 totaled $11.8 million, $9.5 million and $7.7 million, respectively. | |||||||||
The Company leases certain of its coal reserves from third parties and pays royalties based on either a per ton rate or as a percentage of revenues received. Royalties charged to expense under all such lease agreements amounted to $43.6 million, $40.1 million and $38.8 million in the years ended December 31, 2013, 2012 and 2011, respectively. | |||||||||
At December 31, 2013, the Company had fuel supply contracts outstanding with a minimum purchase requirement of 4.0 million gallons of diesel fuel per year. These contracts qualify for the normal purchase normal sale exception under hedge accounting. | |||||||||
Contingencies | |||||||||
The Company is a party to numerous claims and lawsuits with respect to various matters. The Company provides for costs related to contingencies when a loss is probable and the amount is reasonably estimable. After conferring with counsel, it is the opinion of management that the ultimate resolution of pending claims will not have a material adverse effect on the consolidated financial condition, results of operations, or liquidity of the Company. |
EARNINGS_PER_SHARE
EARNINGS PER SHARE | 3 Months Ended | |||||
Mar. 31, 2014 | ||||||
Earnings Per Share [Abstract] | ' | |||||
EARNINGS PER SHARE | ' | |||||
EARNINGS PER SHARE | ||||||
Basic earnings (loss) per share has been computed by dividing the net income (loss) applicable to common shareholders by the weighted average number of shares of common stock outstanding during each period. Net income (loss) applicable to common shareholders includes the adjustment for net income or loss attributable to noncontrolling interest. Diluted earnings (loss) per share is computed by including the dilutive effect of common stock that would be issued assuming conversion or exercise of outstanding convertible notes and securities, stock options, stock appreciation rights, and restricted stock units. No such items were included in the computations of diluted loss per share in the three months ended March 31, 2014 and March 31, 2013 because the Company incurred a net loss applicable to common shareholders in these periods and the effect of inclusion would have been anti-dilutive. | ||||||
The table below shows the number of shares that were excluded from the calculation of diluted loss per share because their inclusion would be anti-dilutive to the calculation: | ||||||
Three Months Ended March 31, | ||||||
2014 | 2013 | |||||
(In thousands) | ||||||
Convertible securities | 828 | 1,093 | ||||
Restricted stock units, stock options and SARs | 779 | 978 | ||||
Total shares excluded from diluted shares calculation | 1,607 | 2,071 | ||||
BUSINESS_SEGMENT_INFORMATION
BUSINESS SEGMENT INFORMATION | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||
Mar. 31, 2014 | Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | ' | ||||||||||||||||||||||||||||||||||||||
BUSINESS SEGMENT INFORMATION | ' | ' | ||||||||||||||||||||||||||||||||||||||
BUSINESS SEGMENT INFORMATION | BUSINESS SEGMENT INFORMATION | |||||||||||||||||||||||||||||||||||||||
Segment information is based on a management approach, which requires segmentation based upon the Company’s internal organization, reporting of revenue, and operating income. | Segment information is based on a management approach, which requires segmentation based upon the Company’s internal organization, reporting of revenue, and operating income. | |||||||||||||||||||||||||||||||||||||||
The Company’s operations are classified into four reporting segments: coal, power, heritage and corporate. | The Company’s operations are classified into four reporting segments: coal, power, heritage and corporate. The coal reporting segment includes the aggregated operations of coal mines located in Wyoming, Montana, North Dakota and Texas. The power segment includes its ROVA operations located in North Carolina. The heritage segment costs primarily include benefits the Company provides to former mining operation employees as well as other administrative costs associated with providing those benefits and cost containment efforts. The corporate segment primarily consists of corporate administrative expenses. | |||||||||||||||||||||||||||||||||||||||
Summarized financial information by segment is as follows: | Summarized financial information by segment is as follows: | |||||||||||||||||||||||||||||||||||||||
Coal | Power | Heritage | Corporate | Consolidated | Coal | Power | Heritage | Corporate | Consolidated | |||||||||||||||||||||||||||||||
(In thousands) | (In thousands) | |||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, 2014 | 31-Dec-13 | |||||||||||||||||||||||||||||||||||||||
Revenues | $ | 158,190 | $ | 22,012 | $ | — | $ | — | $ | 180,202 | Revenues | $ | 587,119 | $ | 87,567 | $ | — | $ | — | $ | 674,686 | |||||||||||||||||||
Restructuring charges | — | 397 | — | — | 397 | Restructuring charges | — | 5,078 | — | — | 5,078 | |||||||||||||||||||||||||||||
Depreciation, depletion, and amortization | 13,459 | 2,524 | — | 76 | 16,059 | Operating income (loss) | 44,471 | 4,907 | (14,498 | ) | (9,518 | ) | 25,362 | |||||||||||||||||||||||||||
Operating income (loss) | 13,447 | 1,744 | (3,830 | ) | (3,308 | ) | 8,053 | Depreciation, depletion, and amortization | 56,698 | 10,179 | — | 354 | 67,231 | |||||||||||||||||||||||||||
Total assets | 697,916 | 167,998 | 15,622 | 525,611 | 1,407,147 | Total assets | 705,816 | 180,684 | 15,497 | 44,688 | 946,685 | |||||||||||||||||||||||||||||
Capital expenditures | 3,053 | 35 | — | (38 | ) | 3,050 | Capital expenditures | 27,064 | 790 | — | 737 | 28,591 | ||||||||||||||||||||||||||||
Three Months Ended March 31, 2013 | 31-Dec-12 | |||||||||||||||||||||||||||||||||||||||
Revenues | $ | 142,112 | $ | 19,336 | $ | — | $ | — | $ | 161,448 | Revenues | $ | 519,152 | $ | 81,285 | $ | — | $ | — | $ | 600,437 | |||||||||||||||||||
Depreciation, depletion, and amortization | 11,801 | 2,531 | — | 94 | 14,426 | Operating income (loss) | 48,235 | 8,244 | (14,711 | ) | (12,896 | ) | 28,872 | |||||||||||||||||||||||||||
Operating income (loss) | 13,472 | (1,003 | ) | (4,175 | ) | (2,560 | ) | 5,734 | Depreciation, depletion, and amortization | 46,639 | 10,085 | — | 421 | 57,145 | ||||||||||||||||||||||||||
Total assets | 711,128 | 186,309 | 15,877 | 29,701 | 943,015 | Total assets | 703,315 | 189,599 | 15,508 | 27,693 | 936,115 | |||||||||||||||||||||||||||||
Capital expenditures | 5,010 | 134 | — | 157 | 5,301 | Capital expenditures | 18,804 | 2,070 | — | 158 | 21,032 | |||||||||||||||||||||||||||||
31-Dec-11 | ||||||||||||||||||||||||||||||||||||||||
A reconciliation of segment income (loss) from operations to loss before income taxes follows: | Revenues | $ | 414,928 | $ | 86,785 | $ | — | $ | — | $ | 501,713 | |||||||||||||||||||||||||||||
Operating income (loss) | 27,453 | 12,119 | (19,675 | ) | (9,271 | ) | 10,626 | |||||||||||||||||||||||||||||||||
Three Months Ended March 31, | ||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | Depreciation, depletion, and amortization | 35,112 | 10,176 | — | 306 | 45,594 | |||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||||||
Income from operations | $ | 8,053 | $ | 5,734 | Total assets | 510,507 | 194,730 | 13,769 | 40,166 | 759,172 | ||||||||||||||||||||||||||||||
Interest expense | (20,798 | ) | (10,160 | ) | Capital expenditures | 24,678 | 2,119 | — | 797 | 27,594 | ||||||||||||||||||||||||||||||
Interest income | 302 | 297 | ||||||||||||||||||||||||||||||||||||||
A reconciliation of segment income from operations to loss before income taxes follows: | ||||||||||||||||||||||||||||||||||||||||
Loss on foreign exchange | (6,790 | ) | — | |||||||||||||||||||||||||||||||||||||
Other income | 93 | 70 | Years Ended | |||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||||||||||||||||||||
Loss before income taxes | $ | (19,140 | ) | $ | (4,059 | ) | (In thousands) | |||||||||||||||||||||||||||||||||
Income from operations | $ | 25,362 | $ | 28,872 | $ | 10,626 | ||||||||||||||||||||||||||||||||||
Loss on extinguishment of debt | (64 | ) | (1,986 | ) | (17,030 | ) | ||||||||||||||||||||||||||||||||||
Interest expense | (39,937 | ) | (42,677 | ) | (29,769 | ) | ||||||||||||||||||||||||||||||||||
Interest income | 1,366 | 1,496 | 1,444 | |||||||||||||||||||||||||||||||||||||
Other income (loss) | 364 | 723 | (2,572 | ) | ||||||||||||||||||||||||||||||||||||
Loss before income taxes | $ | (12,909 | ) | $ | (13,572 | ) | $ | (37,301 | ) | |||||||||||||||||||||||||||||||
The Company derives its revenues from a few key customers. The customers from which more than 10% of total revenue has been derived and the percentage of total revenue from those customers is summarized as follows: | ||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||||||
Customer A – coal | $ | 117,545 | $ | 126,982 | $ | 120,243 | ||||||||||||||||||||||||||||||||||
Customer B – coal (1) | 112,061 | 96,718 | — | |||||||||||||||||||||||||||||||||||||
Customer C – coal | 89,266 | 81,981 | 81,353 | |||||||||||||||||||||||||||||||||||||
Customer D – power | 86,390 | 80,109 | 85,639 | |||||||||||||||||||||||||||||||||||||
Customer E – coal | 85,929 | 66,128 | 65,224 | |||||||||||||||||||||||||||||||||||||
Customer F – coal (2) | 25,958 | 26,525 | 52,835 | |||||||||||||||||||||||||||||||||||||
Percentage of total revenue | 77 | % | 80 | % | 81 | % | ||||||||||||||||||||||||||||||||||
____________________ | ||||||||||||||||||||||||||||||||||||||||
-1 | The revenue from Customer B did not exceed 10% in 2011. | |||||||||||||||||||||||||||||||||||||||
-2 | The revenue from Customer F did not exceed 10% in 2013 or 2012. |
QUARTERLY_FINANCIAL_DATA_UNAUD
QUARTERLY FINANCIAL DATA (UNAUDITED) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | |||||||||||||||
QUARTERLY FINANCIAL DATA (UNAUDITED) | ' | |||||||||||||||
QUARTERLY FINANCIAL DATA (UNAUDITED) | ||||||||||||||||
Summarized quarterly financial data is as follows: | ||||||||||||||||
Three Months Ended | ||||||||||||||||
March 31 | June 30 | September 30 | December 31 | |||||||||||||
(In thousands; except per share data) | ||||||||||||||||
2013:00:00 | ||||||||||||||||
Revenues | $ | 161,448 | $ | 162,499 | $ | 176,792 | $ | 173,947 | ||||||||
Operating income (loss) | 5,734 | 11,975 | 8,536 | (883 | ) | |||||||||||
Net income (loss) applicable to common shareholders | (2,725 | ) | (622 | ) | 2,421 | (5,131 | ) | |||||||||
Basic income (loss) per common share | $ | (0.19 | ) | $ | (0.04 | ) | $ | 0.17 | $ | (0.35 | ) | |||||
2012:00:00 | ||||||||||||||||
Revenues | $ | 147,236 | $ | 132,842 | $ | 161,332 | $ | 159,027 | ||||||||
Operating income (loss) | 9,086 | (4,262 | ) | 15,451 | 8,597 | |||||||||||
Net income (loss) applicable to common shareholders | 518 | (12,423 | ) | 7,282 | (3,963 | ) | ||||||||||
Basic income (loss) per common share | $ | 0.04 | $ | (0.89 | ) | $ | 0.52 | $ | (0.28 | ) | ||||||
During the second quarter of 2012, the Company revised its preliminary allocation of the Kemmerer Mine purchase price for $2.2 million of deferred revenue. Adjustments to preliminary fair values are assumed to have been made as of the acquisition date. As a result, additional revenue of approximately $1.3 million was subsequently recorded in the first quarter of 2012, compared to what was originally reported in the Form 10-Q for the three months ended March 31, 2012. The information above for the three months ended March 31, 2012 reflects this additional revenue. | ||||||||||||||||
During the fourth quarter of 2013, as a result of a review of useful lives assigned to assets under capital leases and an evaluation of other operating income, the Company recorded $1.5 million of additional net expense related to prior years. In accordance with applicable U.S. GAAP, management quantitatively and qualitatively evaluated the impact and determined it to be immaterial to the Company's 2013 consolidated financial statements. |
SUPPLEMENTAL_CONSOLIDATING_FIN
SUPPLEMENTAL CONSOLIDATING FINANCIAL INFORMATION | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||
Mar. 31, 2014 | Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
SUPPLEMENTAL CONSOLIDATING FINANCIAL INFORMATION | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
SUPPLEMENTAL CONSOLIDATING FINANCIAL INFORMATION | ||||||||||||||||||||||||||||||||||||||||||||||||||
Pursuant to the indenture governing the 10.75% Senior Notes, certain 100% owned subsidiaries of the Company have fully and unconditionally guaranteed the notes on a joint and several basis. | 18 | SUPPLEMENTAL CONSOLIDATING FINANCIAL INFORMATION | ||||||||||||||||||||||||||||||||||||||||||||||||
Pursuant to the indenture governing the 10.75% Senior Notes, certain 100% owned subsidiaries of the Company have fully and unconditionally guaranteed the notes on a joint and several basis. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Guarantees of the Senior Notes will be released under certain circumstances, including: | Guarantees of the Senior Notes will be released under certain circumstances, including: | |||||||||||||||||||||||||||||||||||||||||||||||||
-1 | in the event of a sale or other disposition of all or substantially all of the assets of such Guarantor Subsidiary, by way of merger, consolidation or otherwise, a sale or other disposition of all of the Equity Interests of such Guarantor Subsidiary then held by the Issuers or any Restricted Subsidiary; provided, that the sale or other disposition does not violate the “Asset Sales” provisions of the Indenture; | |||||||||||||||||||||||||||||||||||||||||||||||||
-1 | in the event of a sale or other disposition of all or substantially all of the assets of such Guarantor Subsidiary, by way of merger, consolidation or otherwise, a sale or other disposition of all of the Equity Interests of such Guarantor Subsidiary then held by the Issuers or any Restricted Subsidiary; provided, that the sale or other disposition does not violate the “Asset Sales” provisions of the Indenture; | |||||||||||||||||||||||||||||||||||||||||||||||||
-2 | if such Guarantor Subsidiary is designated as an Unrestricted Subsidiary in accordance with the provisions of the Indenture, upon effectiveness of such designation; | |||||||||||||||||||||||||||||||||||||||||||||||||
-2 | if such Guarantor Subsidiary is designated as an Unrestricted Subsidiary in accordance with the provisions of the Indenture, upon effectiveness of such designation; | |||||||||||||||||||||||||||||||||||||||||||||||||
-3 | upon Legal Defeasance or Covenant Defeasance (as such terms are defined in the indenture) or upon satisfaction and discharge of the Indenture; | |||||||||||||||||||||||||||||||||||||||||||||||||
-3 | upon Legal Defeasance or Covenant Defeasance (as such terms are defined in the indenture) or upon satisfaction and discharge of the Indenture; | |||||||||||||||||||||||||||||||||||||||||||||||||
-4 | upon the liquidation or dissolution of such Guarantor Subsidiary, provided no event of default has occurred and is continuing; or | |||||||||||||||||||||||||||||||||||||||||||||||||
-4 | upon the liquidation or dissolution of such Guarantor Subsidiary, provided no event of default has occurred and is continuing; or | |||||||||||||||||||||||||||||||||||||||||||||||||
-5 | at such time as such Guarantor Subsidiary is no longer required to be a Guarantor Subsidiary of the Senior Notes as described in the Indenture, provided no event of default has occurred and is continuing. | |||||||||||||||||||||||||||||||||||||||||||||||||
-5 | at such time as such Guarantor Subsidiary is no longer required to be a Guarantor Subsidiary of the Senior Notes as described in the Indenture, provided no event of default has occurred and is continuing. | The following tables present unaudited consolidating financial information for (i) the issuer of the notes (Westmoreland Coal Company), (ii) the co-issuer of the notes (Westmoreland Partners), (iii) the guarantors under the notes, and (iv) the entities that are not guarantors under the notes. | ||||||||||||||||||||||||||||||||||||||||||||||||
The following tables present unaudited consolidating financial information for (i) the issuer of the notes (Westmoreland Coal Company), (ii) the co-issuer of the notes (Westmoreland Partners), (iii) the guarantors under the notes, and (iv) the entities that are not guarantors under the notes. The following tables are historical and present WML and its subsidiaries as non-guarantor subsidiaries. WML and its subsidiaries became additional guarantor subsidiaries effective on July 31, 2014. The effects of the changes to guarantors that took place on July 31, 2014 are presented below these tables with an explanatory paragraph. | Certain amounts in prior periods have been reclassified to conform with the presentation of 2013. These reclassifications affected only the statements of cash flows. The following tables are historical and present WML and its subsidiaries as non-guarantor subsidiaries. WML and its subsidiaries became additional guarantor subsidiaries effective on July 31, 2014. The effects of the changes to guarantors that took place on July 31, 2014 are presented below these tables with an explanatory paragraph. | |||||||||||||||||||||||||||||||||||||||||||||||||
CONSOLIDATING BALANCE SHEETS(1) | ||||||||||||||||||||||||||||||||||||||||||||||||||
March 31, 2014 | CONSOLIDATING BALANCE SHEETS (1) | |||||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Assets | Parent/ | Co-Issuer | Guarantor | Non- | Consolidating | Total | ||||||||||||||||||||||||||||||||||||||||||||
Issuer | Subsidiaries | Guarantor | Adjustments | Assets | Parent/ | Co-Issuer | Guarantor | Non- | Consolidating | Total | ||||||||||||||||||||||||||||||||||||||||
Subsidiaries | Issuer | Subsidiaries | Guarantor | Adjustments | ||||||||||||||||||||||||||||||||||||||||||||||
Current assets: | Subsidiaries | |||||||||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 28,759 | $ | 4,043 | $ | 8,794 | $ | 20,304 | $ | — | $ | 61,900 | Current assets: | |||||||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 25,326 | $ | 3,341 | $ | 7,942 | $ | 24,501 | $ | — | $ | 61,110 | ||||||||||||||||||||||||||||||||||||||
Receivables: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Trade | — | 12,456 | 22,857 | 29,402 | — | 64,715 | Receivables: | |||||||||||||||||||||||||||||||||||||||||||
Trade | — | 12,934 | 17,389 | 35,873 | — | 66,196 | ||||||||||||||||||||||||||||||||||||||||||||
Contractual third-party reclamation receivables | — | — | 44 | 8,169 | — | 8,213 | ||||||||||||||||||||||||||||||||||||||||||||
Contractual third-party reclamation receivables | — | — | 44 | 8,443 | — | 8,487 | ||||||||||||||||||||||||||||||||||||||||||||
Intercompany receivable/payable | (2,263 | ) | — | 3,499 | (33,946 | ) | 32,710 | — | ||||||||||||||||||||||||||||||||||||||||||
Intercompany receivable/payable | (3,568 | ) | — | 4,384 | (33,681 | ) | 32,865 | — | ||||||||||||||||||||||||||||||||||||||||||
Other | 273 | 208 | 244 | 681 | (31 | ) | 1,375 | |||||||||||||||||||||||||||||||||||||||||||
Other | 95 | 210 | 2,974 | 1,831 | (24 | ) | 5,086 | |||||||||||||||||||||||||||||||||||||||||||
(1,990 | ) | 12,664 | 26,644 | 4,306 | 32,679 | 74,303 | ||||||||||||||||||||||||||||||||||||||||||||
(3,473 | ) | 13,144 | 24,791 | 12,466 | 32,841 | 79,769 | ||||||||||||||||||||||||||||||||||||||||||||
Inventories | — | 1,845 | 15,133 | 18,469 | — | 35,447 | ||||||||||||||||||||||||||||||||||||||||||||
Inventories | — | 6,161 | 16,077 | 17,735 | (1 | ) | 39,972 | |||||||||||||||||||||||||||||||||||||||||||
Restricted investments and bond collateral | 16,900 | — | — | — | — | 16,900 | ||||||||||||||||||||||||||||||||||||||||||||
Deferred income taxes | — | — | 870 | — | (870 | ) | — | |||||||||||||||||||||||||||||||||||||||||||
Other current assets | 7,044 | 425 | 3,168 | 6,005 | 1 | 16,643 | ||||||||||||||||||||||||||||||||||||||||||||
Restricted investments and bond collateral | — | 5,998 | — | — | — | 5,998 | ||||||||||||||||||||||||||||||||||||||||||||
Total current assets | 50,713 | 18,977 | 53,739 | 49,084 | 32,680 | 205,193 | ||||||||||||||||||||||||||||||||||||||||||||
Other current assets | 6,115 | 143 | 6,883 | 5,049 | — | 18,190 | ||||||||||||||||||||||||||||||||||||||||||||
Property, plant and equipment: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Land and mineral rights | — | 1,395 | 104,640 | 172,163 | — | 278,198 | Total current assets | 27,968 | 28,787 | 56,563 | 59,751 | 31,970 | 205,039 | |||||||||||||||||||||||||||||||||||||
Plant and equipment | 3,966 | 220,932 | 245,368 | 202,923 | — | 673,189 | Property, plant and equipment: | |||||||||||||||||||||||||||||||||||||||||||
Land and mineral rights | — | 1,395 | 104,631 | 172,163 | (1 | ) | 278,188 | |||||||||||||||||||||||||||||||||||||||||||
3,966 | 222,327 | 350,008 | 375,086 | — | 951,387 | |||||||||||||||||||||||||||||||||||||||||||||
Plant and equipment | 3,939 | 220,872 | 229,998 | 202,886 | 1 | 657,696 | ||||||||||||||||||||||||||||||||||||||||||||
Less accumulated depreciation, depletion and amortization | 2,781 | 74,177 | 138,718 | 246,079 | (1 | ) | 461,754 | |||||||||||||||||||||||||||||||||||||||||||
3,939 | 222,267 | 334,629 | 375,049 | — | 935,884 | |||||||||||||||||||||||||||||||||||||||||||||
Net property, plant and equipment | 1,185 | 148,150 | 211,290 | 129,007 | 1 | 489,633 | ||||||||||||||||||||||||||||||||||||||||||||
Less accumulated depreciation, depletion and amortization | 2,705 | 71,653 | 132,189 | 239,302 | (1 | ) | 445,848 | |||||||||||||||||||||||||||||||||||||||||||
Advanced coal royalties | — | — | 3,000 | 4,263 | — | 7,263 | ||||||||||||||||||||||||||||||||||||||||||||
Net property, plant and equipment | 1,234 | 150,614 | 202,440 | 135,747 | 1 | 490,036 | ||||||||||||||||||||||||||||||||||||||||||||
Reclamation deposits | — | — | — | 75,315 | — | 75,315 | ||||||||||||||||||||||||||||||||||||||||||||
Advanced coal royalties | — | — | 3,000 | 4,311 | — | 7,311 | ||||||||||||||||||||||||||||||||||||||||||||
Restricted investments and bond collateral | 469,385 | — | 36,615 | 17,483 | — | 523,483 | ||||||||||||||||||||||||||||||||||||||||||||
Reclamation deposits | — | — | — | 74,921 | — | 74,921 | ||||||||||||||||||||||||||||||||||||||||||||
Contractual third-party reclamation receivables | — | — | 302 | 87,734 | — | 88,036 | ||||||||||||||||||||||||||||||||||||||||||||
Restricted investments and bond collateral | 15,134 | — | 36,619 | 17,482 | — | 69,235 | ||||||||||||||||||||||||||||||||||||||||||||
Intangible assets | — | 871 | — | 228 | — | 1,099 | ||||||||||||||||||||||||||||||||||||||||||||
Contractual third-party reclamation receivables | — | — | 293 | 88,010 | — | 88,303 | ||||||||||||||||||||||||||||||||||||||||||||
Investment in subsidiaries | 237,926 | — | — | 3,770 | (241,696 | ) | — | |||||||||||||||||||||||||||||||||||||||||||
Intangible assets | — | 1,283 | — | 238 | (1 | ) | 1,520 | |||||||||||||||||||||||||||||||||||||||||||
Other assets | 15,563 | — | 569 | 4,493 | (3,500 | ) | 17,125 | |||||||||||||||||||||||||||||||||||||||||||
Investment in subsidiaries | 266,847 | — | — | 3,770 | (270,617 | ) | — | |||||||||||||||||||||||||||||||||||||||||||
Total assets | $ | 774,772 | $ | 167,998 | $ | 305,515 | $ | 371,377 | $ | (212,515 | ) | $ | 1,407,147 | |||||||||||||||||||||||||||||||||||||
Other assets | 8,636 | — | 586 | 3,098 | (2,000 | ) | 10,320 | |||||||||||||||||||||||||||||||||||||||||||
____________________ | ||||||||||||||||||||||||||||||||||||||||||||||||||
(1) This table is presented for historical information and presents WML and its subsidiaries as non-guarantor subsidiaries. WML and its subsidiaries became additional guarantor subsidiaries effective on July 31, 2014. | Total assets | $ | 319,819 | $ | 180,684 | $ | 299,501 | $ | 387,328 | $ | (240,647 | ) | $ | 946,685 | ||||||||||||||||||||||||||||||||||||
CONSOLIDATING BALANCE SHEETS(1) | ____________________ | |||||||||||||||||||||||||||||||||||||||||||||||||
March 31, 2014 | (1) This table is presented for historical information and presents WML and its subsidiaries as non-guarantor subsidiaries. WML and its subsidiaries became additional guarantor subsidiaries effective on July 31, 2014. | |||||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | CONSOLIDATING BALANCE SHEETS (1) | |||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Liabilities and Shareholders’ Deficit | Parent/ | Co-Issuer | Guarantor | Non- | Consolidating | Total | ||||||||||||||||||||||||||||||||||||||||||||
Issuer | Subsidiaries | Guarantor | Adjustments | |||||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries | Liabilities and Shareholders’ Deficit | Parent/ | Co-Issuer | Guarantor | Non- | Consolidating | Total | |||||||||||||||||||||||||||||||||||||||||||
Current liabilities | Issuer | Subsidiaries | Guarantor | Adjustments | ||||||||||||||||||||||||||||||||||||||||||||||
Current installments of long-term debt | $ | 22,785 | $ | — | $ | 4,596 | $ | 21,205 | $ | — | $ | 48,586 | Subsidiaries | |||||||||||||||||||||||||||||||||||||
Current liabilities | ||||||||||||||||||||||||||||||||||||||||||||||||||
Accounts payable and accrued expenses: | Current installments of long-term debt | $ | 20,392 | $ | — | $ | 2,790 | $ | 21,161 | $ | — | $ | 44,343 | |||||||||||||||||||||||||||||||||||||
Trade | 9,000 | 6,331 | 14,710 | 32,557 | — | 62,598 | ||||||||||||||||||||||||||||||||||||||||||||
Accounts payable and accrued expenses: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Production taxes | — | 405 | 22,442 | 23,947 | — | 46,794 | Trade | 4,122 | 10,119 | 12,522 | 30,743 | 1 | 57,507 | |||||||||||||||||||||||||||||||||||||
Workers’ compensation | 712 | — | — | — | — | 712 | Production taxes | — | 3 | 17,429 | 24,472 | 1 | 41,905 | |||||||||||||||||||||||||||||||||||||
Postretirement medical benefits | 12,042 | — | 329 | 1,583 | 1 | 13,955 | Workers’ compensation | 717 | — | — | — | — | 717 | |||||||||||||||||||||||||||||||||||||
SERP | 390 | — | — | — | — | 390 | Postretirement medical benefits | 12,042 | — | 329 | 1,583 | 1 | 13,955 | |||||||||||||||||||||||||||||||||||||
Deferred revenue | — | 9,581 | 4,813 | 1,640 | — | 16,034 | SERP | 390 | — | — | — | — | 390 | |||||||||||||||||||||||||||||||||||||
Asset retirement obligations | — | — | 3,554 | 18,673 | — | 22,227 | Deferred revenue | — | 9,024 | 3,969 | 1,075 | — | 14,068 | |||||||||||||||||||||||||||||||||||||
Other current liabilities | 19,196 | 5,053 | — | 172 | (31 | ) | 24,390 | Asset retirement obligations | — | — | 3,104 | 20,250 | (1 | ) | 23,353 | |||||||||||||||||||||||||||||||||||
Total current liabilities | 64,125 | 21,370 | 50,444 | 99,777 | (30 | ) | 235,686 | Other current liabilities | 11,302 | 5,053 | 317 | 142 | (24 | ) | 16,790 | |||||||||||||||||||||||||||||||||||
Long-term debt, less current installments | 677,385 | — | 12,912 | 64,848 | (3,500 | ) | 751,645 | Total current liabilities | 48,965 | 24,199 | 40,460 | 99,426 | (22 | ) | 213,028 | |||||||||||||||||||||||||||||||||||
Workers’ compensation, less current portion | 6,680 | — | — | — | — | 6,680 | Long-term debt, less current installments | 224,582 | — | 2,664 | 70,248 | (2,000 | ) | 295,494 | ||||||||||||||||||||||||||||||||||||
Excess of black lung benefit obligation over trust assets | 9,376 | — | — | — | — | 9,376 | Workers’ compensation, less current portion | 6,744 | — | — | — | — | 6,744 | |||||||||||||||||||||||||||||||||||||
Postretirement medical benefits, less current portion | 185,447 | — | 50,472 | 35,356 | — | 271,275 | Excess of black lung benefit obligation over trust assets | 8,675 | — | — | — | — | 8,675 | |||||||||||||||||||||||||||||||||||||
Pension and SERP obligations, less current portion | 12,921 | 98 | 9,494 | 1,011 | — | 23,524 | Postretirement medical benefits, less current portion | 185,858 | — | 49,418 | 35,098 | — | 270,374 | |||||||||||||||||||||||||||||||||||||
Deferred revenue, less current portion | — | 38,325 | — | 4,974 | — | 43,299 | Pension and SERP obligations, less current portion | 13,069 | 99 | 9,381 | 1,627 | — | 24,176 | |||||||||||||||||||||||||||||||||||||
Asset retirement obligations, less current portion | — | 909 | 51,300 | 206,827 | — | 259,036 | Deferred revenue, less current portion | — | 41,297 | — | 5,271 | (1 | ) | 46,567 | ||||||||||||||||||||||||||||||||||||
Intangible liabilities | — | 5,339 | — | — | — | 5,339 | Asset retirement obligations, less current portion | — | 892 | 50,472 | 205,147 | — | 256,511 | |||||||||||||||||||||||||||||||||||||
Other liabilities | 6,440 | — | — | 1,063 | — | 7,503 | Intangible liabilities | — | 5,606 | — | — | — | 5,606 | |||||||||||||||||||||||||||||||||||||
Intercompany receivable/payable | 18,613 | — | (4,326 | ) | 5,633 | (19,920 | ) | — | Other liabilities | 5,939 | — | 6,220 | 1,450 | (6,220 | ) | 7,389 | ||||||||||||||||||||||||||||||||||
Total liabilities | 980,987 | 66,041 | 170,296 | 419,489 | (23,450 | ) | 1,613,363 | Intercompany receivable/payable | 13,866 | — | 525 | 6,434 | (20,825 | ) | — | |||||||||||||||||||||||||||||||||||
Shareholders’ deficit | Total liabilities | 507,698 | 72,093 | 159,140 | 424,701 | (29,068 | ) | 1,134,564 | ||||||||||||||||||||||||||||||||||||||||||
Preferred stock | 121 | — | — | — | — | 121 | ||||||||||||||||||||||||||||||||||||||||||||
Shareholders’ deficit | ||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock | 37,155 | 5 | 110 | 132 | (247 | ) | 37,155 | Preferred stock | 160 | — | — | — | — | 160 | ||||||||||||||||||||||||||||||||||||
Other paid-in capital | 134,953 | 52,842 | 92,896 | 66,027 | (211,766 | ) | 134,952 | Common stock | 36,479 | 5 | 110 | 132 | (247 | ) | 36,479 | |||||||||||||||||||||||||||||||||||
Accumulated other comprehensive loss | (63,369 | ) | (162 | ) | 17,372 | (13,937 | ) | (3,273 | ) | (63,369 | ) | Other paid-in capital | 134,861 | 52,835 | 94,370 | 64,401 | (211,606 | ) | 134,861 | |||||||||||||||||||||||||||||||
Accumulated earnings (deficit) | (315,075 | ) | 49,272 | 24,841 | (100,334 | ) | 26,221 | (315,075 | ) | Accumulated other comprehensive income (loss) | (63,595 | ) | (164 | ) | 17,492 | (14,153 | ) | (3,175 | ) | (63,595 | ) | |||||||||||||||||||||||||||||
Total equity (deficit) | (206,215 | ) | 101,957 | 135,219 | (48,112 | ) | (189,065 | ) | (206,216 | ) | Accumulated earnings (deficit) | (295,784 | ) | 55,915 | 28,389 | (87,753 | ) | 3,449 | (295,784 | ) | ||||||||||||||||||||||||||||||
Total liabilities and shareholders’ deficit | $ | 774,772 | $ | 167,998 | $ | 305,515 | $ | 371,377 | $ | (212,515 | ) | $ | 1,407,147 | Total Westmoreland Coal Company shareholders’ deficit | (187,879 | ) | 108,591 | 140,361 | (37,373 | ) | (211,579 | ) | (187,879 | ) | ||||||||||||||||||||||||||
____________________ | Noncontrolling interest | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||
(1) This table is presented for historical information and presents WML and its subsidiaries as non-guarantor subsidiaries. WML and its subsidiaries became additional guarantor subsidiaries effective on July 31, 2014. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total equity (deficit) | (187,879 | ) | 108,591 | 140,361 | (37,373 | ) | (211,579 | ) | (187,879 | ) | ||||||||||||||||||||||||||||||||||||||||
CONSOLIDATING BALANCE SHEETS(1) | ||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | Total liabilities and shareholders’ deficit | $ | 319,819 | $ | 180,684 | $ | 299,501 | $ | 387,328 | $ | (240,647 | ) | $ | 946,685 | ||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||
____________________ | ||||||||||||||||||||||||||||||||||||||||||||||||||
(1) This table is presented for historical information and presents WML and its subsidiaries as non-guarantor subsidiaries. WML and its subsidiaries became additional guarantor subsidiaries effective on July 31, 2014. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Assets | Parent/ | Co-Issuer | Guarantor | Non- | Consolidating | Total | CONSOLIDATING BALANCE SHEETS (1) | |||||||||||||||||||||||||||||||||||||||||||
Issuer | Subsidiaries | Guarantor | Adjustments | December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries | (In thousands) | |||||||||||||||||||||||||||||||||||||||||||||||||
Current assets: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 25,326 | $ | 3,341 | $ | 7,942 | $ | 24,501 | $ | — | $ | 61,110 | ||||||||||||||||||||||||||||||||||||||
Receivables: | Assets | Parent/ | Co-Issuer | Guarantor | Non- | Consolidating | Total | |||||||||||||||||||||||||||||||||||||||||||
Trade | — | 12,934 | 17,389 | 35,873 | — | 66,196 | Issuer | Subsidiaries | Guarantor | Adjustments | ||||||||||||||||||||||||||||||||||||||||
Subsidiaries | ||||||||||||||||||||||||||||||||||||||||||||||||||
Contractual third-party reclamation receivables | — | — | 44 | 8,443 | — | 8,487 | Current assets: | |||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 14,836 | $ | 4,545 | $ | 5,362 | $ | 6,867 | $ | — | $ | 31,610 | ||||||||||||||||||||||||||||||||||||||
Intercompany receivable/payable | (3,568 | ) | — | 4,384 | (33,681 | ) | 32,865 | — | ||||||||||||||||||||||||||||||||||||||||||
Receivables: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Other | 95 | 210 | 2,974 | 1,831 | (24 | ) | 5,086 | Trade | — | 13,018 | 13,428 | 33,591 | — | 60,037 | ||||||||||||||||||||||||||||||||||||
(3,473 | ) | 13,144 | 24,791 | 12,466 | 32,841 | 79,769 | Contractual third-party reclamation receivables | — | — | 56 | 10,151 | — | 10,207 | |||||||||||||||||||||||||||||||||||||
Inventories | — | 6,161 | 16,077 | 17,735 | (1 | ) | 39,972 | Intercompany receivable/payable | (8,002 | ) | — | 5,667 | (30,641 | ) | 32,976 | — | ||||||||||||||||||||||||||||||||||
Deferred income taxes | — | — | 870 | — | (870 | ) | — | Other | 77 | — | 16,806 | 1,182 | (14,845 | ) | 3,220 | |||||||||||||||||||||||||||||||||||
Restricted investments and bond collateral | — | 5,998 | — | — | — | 5,998 | (7,925 | ) | 13,018 | 35,957 | 14,283 | 18,131 | 73,464 | |||||||||||||||||||||||||||||||||||||
Other current assets | 6,115 | 143 | 6,883 | 5,049 | — | 18,190 | Inventories | — | 3,047 | 16,538 | 18,149 | — | 37,734 | |||||||||||||||||||||||||||||||||||||
Total current assets | 27,968 | 28,787 | 56,563 | 59,751 | 31,970 | 205,039 | Other current assets | 739 | 298 | 5,550 | 9,917 | — | 16,504 | |||||||||||||||||||||||||||||||||||||
Property, plant and equipment: | Total current assets | 7,650 | 20,908 | 63,407 | 49,216 | 18,131 | 159,312 | |||||||||||||||||||||||||||||||||||||||||||
Land and mineral rights | — | 1,395 | 104,631 | 172,163 | (1 | ) | 278,188 | |||||||||||||||||||||||||||||||||||||||||||
Property, plant and equipment: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Plant and equipment | 3,939 | 220,872 | 229,998 | 202,886 | 1 | 657,696 | Land and mineral rights | — | 1,395 | 91,741 | 168,605 | — | 261,741 | |||||||||||||||||||||||||||||||||||||
3,939 | 222,267 | 334,629 | 375,049 | — | 935,884 | Plant and equipment | 3,198 | 219,857 | 215,751 | 196,914 | — | 635,720 | ||||||||||||||||||||||||||||||||||||||
Less accumulated depreciation, depletion and amortization | 2,705 | 71,653 | 132,189 | 239,302 | (1 | ) | 445,848 | 3,198 | 221,252 | 307,492 | 365,519 | — | 897,461 | |||||||||||||||||||||||||||||||||||||
Net property, plant and equipment | 1,234 | 150,614 | 202,440 | 135,747 | 1 | 490,036 | Less accumulated depreciation, depletion and amortization | 2,364 | 61,474 | 108,151 | 212,632 | — | 384,621 | |||||||||||||||||||||||||||||||||||||
Advanced coal royalties | — | — | 3,000 | 4,311 | — | 7,311 | Net property, plant and equipment | 834 | 159,778 | 199,341 | 152,887 | — | 512,840 | |||||||||||||||||||||||||||||||||||||
Reclamation deposits | — | — | — | 74,921 | — | 74,921 | Advanced coal royalties | — | — | 500 | 3,816 | — | 4,316 | |||||||||||||||||||||||||||||||||||||
Restricted investments and bond collateral | 15,134 | — | 36,619 | 17,482 | — | 69,235 | Reclamation deposits | — | — | — | 72,718 | — | 72,718 | |||||||||||||||||||||||||||||||||||||
Contractual third-party reclamation receivables | — | — | 293 | 88,010 | — | 88,303 | Restricted investments and bond collateral | 15,183 | 5,990 | 39,208 | 26,828 | — | 87,209 | |||||||||||||||||||||||||||||||||||||
Intangible assets | — | 1,283 | — | 238 | (1 | ) | 1,520 | Contractual third-party reclamation receivables | — | — | 327 | 83,831 | — | 84,158 | ||||||||||||||||||||||||||||||||||||
Investment in subsidiaries | 266,847 | — | — | 3,770 | (270,617 | ) | — | Intangible assets | — | 2,923 | — | 280 | — | 3,203 | ||||||||||||||||||||||||||||||||||||
Other assets | 8,636 | — | 586 | 3,098 | (2,000 | ) | 10,320 | Investment in subsidiaries | 248,565 | — | (792 | ) | 3,770 | (251,543 | ) | — | ||||||||||||||||||||||||||||||||||
Total assets | $ | 319,819 | $ | 180,684 | $ | 299,501 | $ | 387,328 | $ | (240,647 | ) | $ | 946,685 | Other assets | 10,267 | — | 635 | 3,457 | (2,000 | ) | 12,359 | |||||||||||||||||||||||||||||
____________________ | Total assets | $ | 282,499 | $ | 189,599 | $ | 302,626 | $ | 396,803 | $ | (235,412 | ) | $ | 936,115 | ||||||||||||||||||||||||||||||||||||
(1) This table is presented for historical information and presents WML and its subsidiaries as non-guarantor subsidiaries. WML and its subsidiaries became additional guarantor subsidiaries effective on July 31, 2014. | ||||||||||||||||||||||||||||||||||||||||||||||||||
CONSOLIDATING BALANCE SHEETS(1) | ____________________ | |||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | (1) This table is presented for historical information and presents WML and its subsidiaries as non-guarantor subsidiaries. WML and its subsidiaries became additional guarantor subsidiaries effective on July 31, 2014. | |||||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||
CONSOLIDATING BALANCE SHEETS (1) | ||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Liabilities and Shareholders’ Deficit | Parent/ | Co-Issuer | Guarantor | Non-Guarantor | Consolidating | Total | ||||||||||||||||||||||||||||||||||||||||||||
Issuer | Subsidiaries | Subsidiaries | Adjustments | |||||||||||||||||||||||||||||||||||||||||||||||
Current liabilities | ||||||||||||||||||||||||||||||||||||||||||||||||||
Current installments of long-term debt | $ | 20,392 | $ | — | $ | 2,790 | $ | 21,161 | $ | — | $ | 44,343 | Liabilities and Shareholders’ Deficit | Parent/ | Co-Issuer | Guarantor | Non-Guarantor | Consolidating | Total | |||||||||||||||||||||||||||||||
Issuer | Subsidiaries | Subsidiaries | Adjustments | |||||||||||||||||||||||||||||||||||||||||||||||
Accounts payable and accrued expenses: | Current liabilities | |||||||||||||||||||||||||||||||||||||||||||||||||
Trade | 4,122 | 10,119 | 12,522 | 30,743 | 1 | 57,507 | Current installments of long-term debt | $ | (1,548 | ) | $ | — | $ | 1,939 | $ | 23,400 | $ | — | $ | 23,791 | ||||||||||||||||||||||||||||||
Production taxes | — | 3 | 17,429 | 24,472 | 1 | 41,905 | Accounts payable and accrued expenses: | |||||||||||||||||||||||||||||||||||||||||||
Trade | 4,707 | 4,978 | 15,163 | 42,085 | (14,840 | ) | 52,093 | |||||||||||||||||||||||||||||||||||||||||||
Workers’ compensation | 717 | — | — | — | — | 717 | ||||||||||||||||||||||||||||||||||||||||||||
Production taxes | — | 3 | 10,014 | 23,211 | — | 33,228 | ||||||||||||||||||||||||||||||||||||||||||||
Postretirement medical benefits | 12,042 | — | 329 | 1,583 | 1 | 13,955 | ||||||||||||||||||||||||||||||||||||||||||||
Workers’ compensation | 820 | — | — | — | — | 820 | ||||||||||||||||||||||||||||||||||||||||||||
SERP | 390 | — | — | — | — | 390 | ||||||||||||||||||||||||||||||||||||||||||||
Postretirement medical benefits | 12,494 | — | 87 | 1,487 | — | 14,068 | ||||||||||||||||||||||||||||||||||||||||||||
Deferred revenue | — | 9,024 | 3,969 | 1,075 | — | 14,068 | ||||||||||||||||||||||||||||||||||||||||||||
SERP | 390 | — | — | — | — | 390 | ||||||||||||||||||||||||||||||||||||||||||||
Asset retirement obligations | — | — | 3,104 | 20,250 | (1 | ) | 23,353 | |||||||||||||||||||||||||||||||||||||||||||
Deferred revenue | — | 8,788 | 2,997 | 1,037 | — | 12,822 | ||||||||||||||||||||||||||||||||||||||||||||
Other current liabilities | 11,302 | 5,053 | 317 | 142 | (24 | ) | 16,790 | |||||||||||||||||||||||||||||||||||||||||||
Asset retirement obligations | — | — | 3,519 | 18,719 | — | 22,238 | ||||||||||||||||||||||||||||||||||||||||||||
Total current liabilities | 48,965 | 24,199 | 40,460 | 99,426 | (22 | ) | 213,028 | |||||||||||||||||||||||||||||||||||||||||||
Other current liabilities | 11,312 | — | 10 | 144 | (4 | ) | 11,462 | |||||||||||||||||||||||||||||||||||||||||||
Long-term debt, less current installments | 224,582 | — | 2,664 | 70,248 | (2,000 | ) | 295,494 | |||||||||||||||||||||||||||||||||||||||||||
Total current liabilities | 28,175 | 13,769 | 33,729 | 110,083 | (14,844 | ) | 170,912 | |||||||||||||||||||||||||||||||||||||||||||
Workers’ compensation, less current portion | 6,744 | — | — | — | — | 6,744 | ||||||||||||||||||||||||||||||||||||||||||||
Long-term debt, less current installments | 245,456 | — | 2,473 | 91,269 | (2,000 | ) | 337,198 | |||||||||||||||||||||||||||||||||||||||||||
Excess of black lung benefit obligation over trust assets | 8,675 | — | — | — | — | 8,675 | ||||||||||||||||||||||||||||||||||||||||||||
Workers’ compensation, less current portion | 8,710 | — | — | — | — | 8,710 | ||||||||||||||||||||||||||||||||||||||||||||
Postretirement medical benefits, less current portion | 185,858 | — | 49,418 | 35,098 | — | 270,374 | ||||||||||||||||||||||||||||||||||||||||||||
Excess of black lung benefit obligation over trust assets | 8,356 | — | — | — | — | 8,356 | ||||||||||||||||||||||||||||||||||||||||||||
Pension and SERP obligations, less current portion | 13,069 | 99 | 9,381 | 1,627 | — | 24,176 | ||||||||||||||||||||||||||||||||||||||||||||
Postretirement medical benefits, less current portion | 224,336 | — | 55,981 | 39,458 | — | 319,775 | ||||||||||||||||||||||||||||||||||||||||||||
Deferred revenue, less current portion | — | 41,297 | — | 5,271 | (1 | ) | 46,567 | |||||||||||||||||||||||||||||||||||||||||||
Pension and SERP obligations, less current portion | 29,265 | 289 | 19,346 | 5,350 | — | 54,250 | ||||||||||||||||||||||||||||||||||||||||||||
Asset retirement obligations, less current portion | — | 892 | 50,472 | 205,147 | — | 256,511 | ||||||||||||||||||||||||||||||||||||||||||||
Deferred revenue, less current portion | — | 50,239 | — | 6,652 | — | 56,891 | ||||||||||||||||||||||||||||||||||||||||||||
Intangible liabilities | — | 5,606 | — | — | — | 5,606 | ||||||||||||||||||||||||||||||||||||||||||||
Asset retirement obligations, less current portion | — | 829 | 40,063 | 200,717 | — | 241,609 | ||||||||||||||||||||||||||||||||||||||||||||
Other liabilities | 5,939 | — | 6,220 | 1,450 | (6,220 | ) | 7,389 | |||||||||||||||||||||||||||||||||||||||||||
Intangible liabilities | — | 6,625 | — | — | — | 6,625 | ||||||||||||||||||||||||||||||||||||||||||||
Intercompany receivable/payable | 13,866 | — | 525 | 6,434 | (20,825 | ) | — | |||||||||||||||||||||||||||||||||||||||||||
Other liabilities | 701 | — | 15,677 | 1,642 | — | 18,020 | ||||||||||||||||||||||||||||||||||||||||||||
Total liabilities | 507,698 | 72,093 | 159,140 | 424,701 | (29,068 | ) | 1,134,564 | |||||||||||||||||||||||||||||||||||||||||||
Intercompany receivable/payable | 23,731 | — | (7,972 | ) | 35,787 | (51,546 | ) | — | ||||||||||||||||||||||||||||||||||||||||||
Shareholders’ deficit | ||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock | 160 | — | — | — | — | 160 | Total liabilities | 568,730 | 71,751 | 159,297 | 490,958 | (68,390 | ) | 1,222,346 | ||||||||||||||||||||||||||||||||||||
Common stock | 36,479 | 5 | 110 | 132 | (247 | ) | 36,479 | Shareholders’ deficit | ||||||||||||||||||||||||||||||||||||||||||
Preferred stock | 160 | — | — | — | — | 160 | ||||||||||||||||||||||||||||||||||||||||||||
Other paid-in capital | 134,861 | 52,835 | 94,370 | 64,401 | (211,606 | ) | 134,861 | |||||||||||||||||||||||||||||||||||||||||||
Common stock | 35,502 | 5 | 110 | 132 | (247 | ) | 35,502 | |||||||||||||||||||||||||||||||||||||||||||
Accumulated other comprehensive loss | (63,595 | ) | (164 | ) | 17,492 | (14,153 | ) | (3,175 | ) | (63,595 | ) | |||||||||||||||||||||||||||||||||||||||
Other paid-in capital | 130,852 | 52,807 | 93,456 | 62,539 | (208,802 | ) | 130,852 | |||||||||||||||||||||||||||||||||||||||||||
Accumulated earnings (deficit) | (295,784 | ) | 55,915 | 28,389 | (87,753 | ) | 3,449 | (295,784 | ) | |||||||||||||||||||||||||||||||||||||||||
Accumulated other comprehensive loss | (148,345 | ) | (372 | ) | (4,987 | ) | (24,492 | ) | 29,851 | (148,345 | ) | |||||||||||||||||||||||||||||||||||||||
Total equity (deficit) | (187,879 | ) | 108,591 | 140,361 | (37,373 | ) | (211,579 | ) | (187,879 | ) | ||||||||||||||||||||||||||||||||||||||||
Accumulated earnings (deficit) | (289,727 | ) | 65,408 | 54,750 | (132,334 | ) | 12,176 | (289,727 | ) | |||||||||||||||||||||||||||||||||||||||||
Total liabilities and shareholders’ deficit | $ | 319,819 | $ | 180,684 | $ | 299,501 | $ | 387,328 | $ | (240,647 | ) | $ | 946,685 | |||||||||||||||||||||||||||||||||||||
Total Westmoreland Coal Company shareholders’ deficit | (271,558 | ) | 117,848 | 143,329 | (94,155 | ) | (167,022 | ) | (271,558 | ) | ||||||||||||||||||||||||||||||||||||||||
____________________ | ||||||||||||||||||||||||||||||||||||||||||||||||||
(1) This table is presented for historical information and presents WML and its subsidiaries as non-guarantor subsidiaries. WML and its subsidiaries became additional guarantor subsidiaries effective on July 31, 2014. | Noncontrolling interest | (14,673 | ) | — | — | — | — | (14,673 | ) | |||||||||||||||||||||||||||||||||||||||||
CONSOLIDATING STATEMENTS OF OPERATIONS(1) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, 2014 | Total equity (deficit) | (286,231 | ) | 117,848 | 143,329 | (94,155 | ) | (167,022 | ) | (286,231 | ) | |||||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total liabilities and shareholders’ deficit | $ | 282,499 | $ | 189,599 | $ | 302,626 | $ | 396,803 | $ | (235,412 | ) | $ | 936,115 | |||||||||||||||||||||||||||||||||||||
____________________ | ||||||||||||||||||||||||||||||||||||||||||||||||||
Parent/ | Co-Issuer | Guarantor | Non-Guarantor | Consolidating | Total | (1) This table is presented for historical information and presents WML and its subsidiaries as non-guarantor subsidiaries. WML and its subsidiaries became additional guarantor subsidiaries effective on July 31, 2014. | ||||||||||||||||||||||||||||||||||||||||||||
Issuer | Subsidiaries | Subsidiaries | Adjustments | |||||||||||||||||||||||||||||||||||||||||||||||
Revenues | $ | — | $ | 22,012 | $ | 64,292 | $ | 93,898 | $ | — | $ | 180,202 | CONSOLIDATING STATEMENTS OF OPERATIONS (1) | |||||||||||||||||||||||||||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Costs and expenses: | (In thousands) | |||||||||||||||||||||||||||||||||||||||||||||||||
Cost of sales | — | 16,454 | 50,558 | 71,618 | — | 138,630 | ||||||||||||||||||||||||||||||||||||||||||||
Depreciation, depletion and amortization | 76 | 2,524 | 6,269 | 7,190 | — | 16,059 | ||||||||||||||||||||||||||||||||||||||||||||
Parent/ | Co-Issuer | Guarantor | Non-Guarantor | Consolidating | Total | |||||||||||||||||||||||||||||||||||||||||||||
Selling and administrative | 3,746 | 894 | 2,994 | 5,697 | — | 13,331 | Issuer | Subsidiaries | Subsidiaries | Adjustments | ||||||||||||||||||||||||||||||||||||||||
Revenues | $ | — | $ | 87,567 | $ | 214,481 | $ | 414,085 | $ | (41,447 | ) | $ | 674,686 | |||||||||||||||||||||||||||||||||||||
Heritage health benefit expenses | 3,326 | — | — | 218 | — | 3,544 | ||||||||||||||||||||||||||||||||||||||||||||
Costs and expenses: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Loss (gain) on sales of assets | — | — | (1 | ) | 39 | — | 38 | Cost of sales | — | 63,794 | 174,204 | 338,769 | (41,447 | ) | 535,320 | |||||||||||||||||||||||||||||||||||
Restructuring charges | — | 397 | — | — | — | 397 | Depreciation, depletion and amortization | 354 | 10,178 | 27,452 | 29,247 | — | 67,231 | |||||||||||||||||||||||||||||||||||||
Other operating income | — | — | 150 | — | — | 150 | Selling and administrative | 12,339 | 3,609 | 11,092 | 23,681 | — | 50,721 | |||||||||||||||||||||||||||||||||||||
7,148 | 20,269 | 59,970 | 84,762 | — | 172,149 | Heritage health benefit expenses | 12,361 | — | — | 1,057 | — | 13,418 | ||||||||||||||||||||||||||||||||||||||
Operating income (loss) | (7,148 | ) | 1,743 | 4,322 | 9,136 | — | 8,053 | Loss (gain) on sales of assets | — | — | 115 | (189 | ) | — | (74 | ) | ||||||||||||||||||||||||||||||||||
Other income (expense): | Restructuring charges | — | 5,078 | — | — | — | 5,078 | |||||||||||||||||||||||||||||||||||||||||||
Interest expense | (18,673 | ) | (44 | ) | (110 | ) | (1,978 | ) | 7 | (20,798 | ) | |||||||||||||||||||||||||||||||||||||||
Other operating income | — | — | (22,367 | ) | (3 | ) | — | (22,370 | ) | |||||||||||||||||||||||||||||||||||||||||
Interest income | 123 | 4 | 25 | 157 | (7 | ) | 302 | |||||||||||||||||||||||||||||||||||||||||||
25,054 | 82,659 | 190,496 | 392,562 | (41,447 | ) | 649,324 | ||||||||||||||||||||||||||||||||||||||||||||
Loss on foreign exchange | (6,790 | ) | — | — | — | — | (6,790 | ) | ||||||||||||||||||||||||||||||||||||||||||
Operating income (loss) | (25,054 | ) | 4,908 | 23,985 | 21,523 | — | 25,362 | |||||||||||||||||||||||||||||||||||||||||||
Other income | 1 | — | 55 | 37 | — | 93 | ||||||||||||||||||||||||||||||||||||||||||||
Other income (expense): | ||||||||||||||||||||||||||||||||||||||||||||||||||
(25,339 | ) | (40 | ) | (30 | ) | (1,784 | ) | — | (27,193 | ) | Interest expense | (30,417 | ) | (39 | ) | (295 | ) | (9,221 | ) | 35 | (39,937 | ) | ||||||||||||||||||||||||||||
Income (loss) before income taxes and income of consolidated subsidiaries | (32,487 | ) | 1,703 | 4,292 | 7,352 | — | (19,140 | ) | Loss on extinguishment of debt | (64 | ) | — | — | — | — | (64 | ) | |||||||||||||||||||||||||||||||||
Equity in income of subsidiaries | 13,319 | — | — | — | (13,319 | ) | — | Interest income | 165 | 26 | 522 | 688 | (35 | ) | 1,366 | |||||||||||||||||||||||||||||||||||
Income (loss) before income taxes | (19,168 | ) | 1,703 | 4,292 | 7,352 | (13,319 | ) | (19,140 | ) | Other income | 1 | — | 328 | 35 | — | 364 | ||||||||||||||||||||||||||||||||||
Income tax expense (benefit) | (138 | ) | — | (1,511 | ) | 6,626 | (5,087 | ) | (110 | ) | (30,315 | ) | (13 | ) | 555 | (8,498 | ) | — | (38,271 | ) | ||||||||||||||||||||||||||||||
Net income (loss) | (19,030 | ) | 1,703 | 5,803 | 726 | (8,232 | ) | (19,030 | ) | Income (loss) before income taxes and income of consolidated subsidiaries | (55,369 | ) | 4,895 | 24,540 | 13,025 | — | (12,909 | ) | ||||||||||||||||||||||||||||||||
Less net loss attributable to noncontrolling interest | — | — | — | — | — | — | Equity in income of subsidiaries | 42,347 | — | — | — | (42,347 | ) | — | ||||||||||||||||||||||||||||||||||||
Net income (loss) attributable to the Parent company | $ | (19,030 | ) | $ | 1,703 | $ | 5,803 | $ | 726 | $ | (8,232 | ) | $ | (19,030 | ) | Loss before income taxes | (13,022 | ) | 4,895 | 24,540 | 13,025 | (42,347 | ) | (12,909 | ) | |||||||||||||||||||||||||
____________________ | Income tax expense (benefit) | (4,895 | ) | 680 | 8,461 | (47 | ) | (8,981 | ) | (4,782 | ) | |||||||||||||||||||||||||||||||||||||||
(1) This table is presented for historical information and presents WML and its subsidiaries as non-guarantor subsidiaries. WML and its subsidiaries became additional guarantor subsidiaries effective on July 31, 2014. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Net income (loss) | (8,127 | ) | 4,215 | 16,079 | 13,072 | (33,366 | ) | (8,127 | ) | |||||||||||||||||||||||||||||||||||||||||
CONSOLIDATING STATEMENTS OF OPERATIONS(1) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, 2013 | Less net loss attributable to noncontrolling interest | (3,430 | ) | — | — | — | — | (3,430 | ) | |||||||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Net income (loss) attributable to the Parent company | $ | (4,697 | ) | $ | 4,215 | $ | 16,079 | $ | 13,072 | $ | (33,366 | ) | $ | (4,697 | ) | |||||||||||||||||||||||||||||||||||
____________________ | ||||||||||||||||||||||||||||||||||||||||||||||||||
Parent/ | Co-Issuer | Guarantor | Non-Guarantor | Consolidating | Total | (1) This table is presented for historical information and presents WML and its subsidiaries as non-guarantor subsidiaries. WML and its subsidiaries became additional guarantor subsidiaries effective on July 31, 2014. | ||||||||||||||||||||||||||||||||||||||||||||
Issuer | Subsidiaries | Subsidiaries | Adjustments | |||||||||||||||||||||||||||||||||||||||||||||||
Revenues | $ | — | $ | 19,336 | $ | 50,687 | $ | 100,401 | $ | (8,976 | ) | $ | 161,448 | CONSOLIDATING STATEMENTS OF OPERATIONS (1) | ||||||||||||||||||||||||||||||||||||
Year Ended December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Costs and expenses: | (In thousands) | |||||||||||||||||||||||||||||||||||||||||||||||||
Cost of sales | — | 16,954 | 40,421 | 82,022 | (8,976 | ) | 130,421 | |||||||||||||||||||||||||||||||||||||||||||
Depreciation, depletion and amortization | 94 | 2,531 | 5,189 | 6,612 | — | 14,426 | ||||||||||||||||||||||||||||||||||||||||||||
Parent/ | Co-Issuer | Guarantor | Non-Guarantor | Consolidating | Total | |||||||||||||||||||||||||||||||||||||||||||||
Selling and administrative | 3,054 | 855 | 2,637 | 5,341 | — | 11,887 | Issuer | Subsidiaries | Subsidiaries | Adjustments | ||||||||||||||||||||||||||||||||||||||||
Revenues | $ | — | $ | 81,285 | $ | 184,506 | $ | 366,105 | $ | (31,459 | ) | $ | 600,437 | |||||||||||||||||||||||||||||||||||||
Heritage health benefit expenses | 3,689 | — | — | 262 | — | 3,951 | ||||||||||||||||||||||||||||||||||||||||||||
Costs and expenses: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Gain on sales of assets | — | — | (133 | ) | (101 | ) | — | (234 | ) | Cost of sales | — | 59,299 | 134,683 | 303,998 | (31,459 | ) | 466,521 | |||||||||||||||||||||||||||||||||
Other operating income | — | — | (4,737 | ) | — | — | (4,737 | ) | Depreciation, depletion and amortization | 421 | 10,085 | 19,571 | 27,068 | — | 57,145 | |||||||||||||||||||||||||||||||||||
6,837 | 20,340 | 43,377 | 94,136 | (8,976 | ) | 155,714 | Selling and administrative | 13,748 | 3,657 | 9,993 | 24,037 | (1,527 | ) | 49,908 | ||||||||||||||||||||||||||||||||||||
Operating income (loss) | (6,837 | ) | (1,004 | ) | 7,310 | 6,265 | — | 5,734 | Heritage health benefit expenses | 12,406 | — | — | 982 | — | 13,388 | |||||||||||||||||||||||||||||||||||
Other income (expense): | Loss on sales of assets | 13 | — | 251 | 264 | — | 528 | |||||||||||||||||||||||||||||||||||||||||||
Interest expense | (7,584 | ) | (10 | ) | (74 | ) | (2,500 | ) | 8 | (10,160 | ) | |||||||||||||||||||||||||||||||||||||||
Other operating income | — | — | (17,452 | ) | — | 1,527 | (15,925 | ) | ||||||||||||||||||||||||||||||||||||||||||
Interest income | 30 | 10 | 44 | 221 | (8 | ) | 297 | |||||||||||||||||||||||||||||||||||||||||||
26,588 | 73,041 | 147,046 | 356,349 | (31,459 | ) | 571,565 | ||||||||||||||||||||||||||||||||||||||||||||
Other income (loss) | — | — | 92 | (22 | ) | — | 70 | |||||||||||||||||||||||||||||||||||||||||||
Operating income (loss) | (26,588 | ) | 8,244 | 37,460 | 9,756 | — | 28,872 | |||||||||||||||||||||||||||||||||||||||||||
(7,554 | ) | — | 62 | (2,301 | ) | — | (9,793 | ) | ||||||||||||||||||||||||||||||||||||||||||
Other income (expense): | ||||||||||||||||||||||||||||||||||||||||||||||||||
Income (loss) before income taxes and income of consolidated subsidiaries | (14,391 | ) | (1,004 | ) | 7,372 | 3,964 | — | (4,059 | ) | Interest expense | (31,301 | ) | (39 | ) | (378 | ) | (11,039 | ) | 80 | (42,677 | ) | |||||||||||||||||||||||||||||
Equity in income of subsidiaries | 10,304 | — | — | — | (10,304 | ) | — | Loss on extinguishment of debt | (1,986 | ) | — | — | — | — | (1,986 | ) | ||||||||||||||||||||||||||||||||||
Income (loss) before income taxes | (4,087 | ) | (1,004 | ) | 7,372 | 3,964 | (10,304 | ) | (4,059 | ) | Interest income | 253 | 15 | 294 | 1,014 | (80 | ) | 1,496 | ||||||||||||||||||||||||||||||||
Income tax expense (benefit) | — | — | 496 | 2,823 | (3,291 | ) | 28 | Other income | 190 | — | 395 | 138 | — | 723 | ||||||||||||||||||||||||||||||||||||
Net income (loss) | (4,087 | ) | (1,004 | ) | 6,876 | 1,141 | (7,013 | ) | (4,087 | ) | (32,844 | ) | (24 | ) | 311 | (9,887 | ) | — | (42,444 | ) | ||||||||||||||||||||||||||||||
Less net loss attributable to noncontrolling interest | (1,702 | ) | — | — | — | — | (1,702 | ) | Income (loss) before income taxes and income of consolidated subsidiaries | (59,432 | ) | 8,220 | 37,771 | (131 | ) | — | (13,572 | ) | ||||||||||||||||||||||||||||||||
Net income (loss) attributable to the Parent company | $ | (2,385 | ) | $ | (1,004 | ) | $ | 6,876 | $ | 1,141 | $ | (7,013 | ) | $ | (2,385 | ) | Equity in income of subsidiaries | 45,762 | — | — | — | (45,762 | ) | — | ||||||||||||||||||||||||||
____________________ | Income (loss) before income taxes | (13,670 | ) | 8,220 | 37,771 | (131 | ) | (45,762 | ) | (13,572 | ) | |||||||||||||||||||||||||||||||||||||||
(1) This table is presented for historical information and presents WML and its subsidiaries as non-guarantor subsidiaries. WML and its subsidiaries became additional guarantor subsidiaries effective on July 31, 2014. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Income tax expense (benefit) | (8 | ) | 107 | — | 4,410 | (4,419 | ) | 90 | ||||||||||||||||||||||||||||||||||||||||||
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)(1) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, 2014 | Net income (loss) | (13,662 | ) | 8,113 | 37,771 | (4,541 | ) | (41,343 | ) | (13,662 | ) | |||||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Less net loss attributable to noncontrolling interest | (6,436 | ) | — | — | — | — | (6,436 | ) | ||||||||||||||||||||||||||||||||||||||||||
Parent/Issuer | Co-Issuer | Guarantor | Non-Guarantor | Consolidating | Total | Net income (loss) attributable to the Parent company | $ | (7,226 | ) | $ | 8,113 | $ | 37,771 | $ | (4,541 | ) | $ | (41,343 | ) | $ | (7,226 | ) | ||||||||||||||||||||||||||||
Subsidiaries | Subsidiaries | Adjustments | ||||||||||||||||||||||||||||||||||||||||||||||||
Net income (loss) | $ | (19,030 | ) | $ | 1,703 | $ | 5,803 | $ | 726 | $ | (8,232 | ) | $ | (19,030 | ) | ____________________ | ||||||||||||||||||||||||||||||||||
(1) This table is presented for historical information and presents WML and its subsidiaries as non-guarantor subsidiaries. WML and its subsidiaries became additional guarantor subsidiaries effective on July 31, 2014. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income (loss) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of accumulated actuarial gains or losses, pension | 359 | 2 | — | 128 | (130 | ) | 359 | CONSOLIDATING STATEMENTS OF OPERATIONS (1) | ||||||||||||||||||||||||||||||||||||||||||
Year Ended December 31, 2011 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of accumulated actuarial gains or losses, transition obligations, and prior service costs, postretirement medical benefit | 5 | — | (119 | ) | 88 | 31 | 5 | (In thousands) | ||||||||||||||||||||||||||||||||||||||||||
Tax effect of other comprehensive income gains | (138 | ) | — | — | — | — | (138 | ) | ||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income (loss) | 226 | 2 | (119 | ) | 216 | (99 | ) | 226 | Parent/ | Co-Issuer | Guarantor | Non-Guarantor | Consolidating | Total | ||||||||||||||||||||||||||||||||||||
Issuer | Subsidiaries | Subsidiaries | Adjustments | |||||||||||||||||||||||||||||||||||||||||||||||
Comprehensive income (loss) attributable to the Parent company | $ | (18,804 | ) | $ | 1,705 | $ | 5,684 | $ | 942 | $ | (8,331 | ) | $ | (18,804 | ) | Revenues | $ | — | $ | 86,785 | $ | 58,544 | $ | 411,908 | $ | (55,524 | ) | $ | 501,713 | |||||||||||||||||||||
____________________ | Costs and expenses: | |||||||||||||||||||||||||||||||||||||||||||||||||
(1) This table is presented for historical information and presents WML and its subsidiaries as non-guarantor subsidiaries. WML and its subsidiaries became additional guarantor subsidiaries effective on July 31, 2014. | Cost of sales | — | 60,243 | 49,439 | 338,629 | (55,524 | ) | 392,787 | ||||||||||||||||||||||||||||||||||||||||||
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)(1) | Depreciation, depletion and amortization | 306 | 10,175 | 7,936 | 27,177 | — | 45,594 | |||||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | Selling and administrative | 10,616 | 4,059 | 4,566 | 21,508 | (473 | ) | 40,276 | ||||||||||||||||||||||||||||||||||||||||||
Heritage health benefit expenses | 17,754 | — | — | 821 | — | 18,575 | ||||||||||||||||||||||||||||||||||||||||||||
Parent/Issuer | Co-Issuer | Guarantor | Non-Guarantor | Consolidating | Total | |||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries | Subsidiaries | Adjustments | Gain (loss) on sales of assets | 3 | 189 | 59 | 389 | — | 640 | |||||||||||||||||||||||||||||||||||||||||
Net income (loss) | $ | (4,087 | ) | $ | (1,004 | ) | $ | 6,876 | $ | 1,141 | $ | (7,013 | ) | $ | (4,087 | ) | ||||||||||||||||||||||||||||||||||
Other operating income | — | — | (7,258 | ) | — | 473 | (6,785 | ) | ||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income (loss) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of accumulated actuarial gains or losses, pension | 741 | 6 | — | 193 | (199 | ) | 741 | 28,679 | 74,666 | 54,742 | 388,524 | (55,524 | ) | 491,087 | ||||||||||||||||||||||||||||||||||||
Amortization of accumulated actuarial gains or losses, transition obligations, and prior service costs, postretirement medical benefit | 1,001 | — | — | 213 | (213 | ) | 1,001 | Operating income (loss) | (28,679 | ) | 12,119 | 3,802 | 23,384 | — | 10,626 | |||||||||||||||||||||||||||||||||||
Other comprehensive income (loss) | 1,742 | 6 | — | 406 | (412 | ) | 1,742 | Other income (expense): | ||||||||||||||||||||||||||||||||||||||||||
Interest expense | (16,365 | ) | (469 | ) | (657 | ) | (12,370 | ) | 92 | (29,769 | ) | |||||||||||||||||||||||||||||||||||||||
Comprehensive income (loss) attributable to the Parent company | $ | (2,345 | ) | $ | (998 | ) | $ | 6,876 | $ | 1,547 | $ | (7,425 | ) | $ | (2,345 | ) | ||||||||||||||||||||||||||||||||||
Loss on extinguishment of debt | (7,873 | ) | (9,073 | ) | (84 | ) | — | — | (17,030 | ) | ||||||||||||||||||||||||||||||||||||||||
____________________ | ||||||||||||||||||||||||||||||||||||||||||||||||||
(1) This table is presented for historical information and presents WML and its subsidiaries as non-guarantor subsidiaries. WML and its subsidiaries became additional guarantor subsidiaries effective on July 31, 2014. | Interest income | 266 | 14 | 206 | 1,050 | (92 | ) | 1,444 | ||||||||||||||||||||||||||||||||||||||||||
CONSOLIDATING STATEMENTS OF CASH FLOWS(1) | Other income (loss) | (3,014 | ) | — | 170 | 272 | — | (2,572 | ) | |||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, 2014 | ||||||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | (26,986 | ) | (9,528 | ) | (365 | ) | (11,048 | ) | — | (47,927 | ) | |||||||||||||||||||||||||||||||||||||||
Loss before income taxes and income of consolidated subsidiaries | (55,665 | ) | 2,591 | 3,437 | 12,336 | — | (37,301 | ) | ||||||||||||||||||||||||||||||||||||||||||
Statements of Cash Flows | Parent/ | Co-Issuer | Guarantor | Non-Guarantor | Consolidating | Total | Equity in income of subsidiaries | 18,508 | — | — | — | (18,508 | ) | — | ||||||||||||||||||||||||||||||||||||
Issuer | Subsidiaries | Subsidiaries | Adjustments | |||||||||||||||||||||||||||||||||||||||||||||||
Cash flows from operating activities: | Loss before income taxes | (37,157 | ) | 2,591 | 3,437 | 12,336 | (18,508 | ) | (37,301 | ) | ||||||||||||||||||||||||||||||||||||||||
Net income (loss) | $ | (19,030 | ) | $ | 1,703 | $ | 5,803 | $ | 726 | $ | (8,232 | ) | $ | (19,030 | ) | |||||||||||||||||||||||||||||||||||
Income tax expense (benefit) | (282 | ) | (2,498 | ) | (26 | ) | 7,263 | (4,883 | ) | (426 | ) | |||||||||||||||||||||||||||||||||||||||
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Equity in income of subsidiaries | (13,319 | ) | — | — | — | 13,319 | — | Net income (loss) | (36,875 | ) | 5,089 | 3,463 | 5,073 | (13,625 | ) | (36,875 | ) | |||||||||||||||||||||||||||||||||
Depreciation, depletion, and amortization | 76 | 2,524 | 6,269 | 7,190 | — | 16,059 | Less net loss attributable to noncontrolling interest | (3,775 | ) | — | — | — | — | (3,775 | ) | |||||||||||||||||||||||||||||||||||
Accretion of asset retirement obligation and receivable | — | 18 | 1,278 | 2,183 | — | 3,479 | Net loss attributable to the Parent company | $ | (33,100 | ) | $ | 5,089 | $ | 3,463 | $ | 5,073 | $ | (13,625 | ) | $ | (33,100 | ) | ||||||||||||||||||||||||||||
Non-cash tax benefits | (138 | ) | — | — | — | — | (138 | ) | ____________________ | |||||||||||||||||||||||||||||||||||||||||
(1) This table is presented for historical information and presents WML and its subsidiaries as non-guarantor subsidiaries. WML and its subsidiaries became additional guarantor subsidiaries effective on July 31, 2014. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of intangible assets and liabilities, net | — | 146 | — | 7 | — | 153 | ||||||||||||||||||||||||||||||||||||||||||||
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (1) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based compensation | 569 | 7 | 37 | 115 | — | 728 | Year Ended December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Loss (gain) on sales of assets | — | — | (1 | ) | 39 | — | 38 | |||||||||||||||||||||||||||||||||||||||||||
Amortization of deferred financing costs | 149 | — | — | 122 | — | 271 | Parent/Issuer | Co-Issuer | Guarantor | Non-Guarantor | Consolidating | Total | ||||||||||||||||||||||||||||||||||||||
Subsidiaries | Subsidiaries | Adjustments | ||||||||||||||||||||||||||||||||||||||||||||||||
Loss on foreign exchange | 6,790 | — | — | — | — | 6,790 | ||||||||||||||||||||||||||||||||||||||||||||
Net income (loss) | $ | (8,127 | ) | $ | 4,215 | $ | 16,079 | $ | 13,072 | $ | (33,366 | ) | $ | (8,127 | ) | |||||||||||||||||||||||||||||||||||
Changes in operating assets and liabilities: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Receivables, net | (178 | ) | 480 | (2,738 | ) | 6,104 | 1,534 | 5,202 | Other comprehensive income (loss) | |||||||||||||||||||||||||||||||||||||||||
Amortization of accumulated actuarial gains or losses, pension | 3,490 | 28 | — | 863 | (891 | ) | 3,490 | |||||||||||||||||||||||||||||||||||||||||||
Inventories | — | 4,316 | 944 | (735 | ) | — | 4,525 | |||||||||||||||||||||||||||||||||||||||||||
Adjustments to accumulated actuarial losses and transition obligations, pension | 28,974 | 180 | 10,554 | 3,252 | (13,986 | ) | 28,974 | |||||||||||||||||||||||||||||||||||||||||||
Excess of black lung benefit obligation over trust assets | 701 | — | — | — | — | 701 | ||||||||||||||||||||||||||||||||||||||||||||
Amortization of accumulated actuarial gains or losses, transition obligations, and prior service costs, postretirement medical benefit | 4,005 | — | — | 852 | (852 | ) | 4,005 | |||||||||||||||||||||||||||||||||||||||||||
Accounts payable and accrued expenses | 5,670 | (3,386 | ) | 7,356 | 1,327 | (8 | ) | 10,959 | ||||||||||||||||||||||||||||||||||||||||||
Adjustments to accumulated actuarial gains and transition obligations, postretirement medical benefits | 53,230 | — | 11,941 | 5,411 | (17,352 | ) | 53,230 | |||||||||||||||||||||||||||||||||||||||||||
Deferred revenue | — | (2,415 | ) | 844 | 269 | — | (1,302 | ) | ||||||||||||||||||||||||||||||||||||||||||
Tax effect of other comprehensive income gains | (4,892 | ) | — | — | — | — | (4,892 | ) | ||||||||||||||||||||||||||||||||||||||||||
Income tax payable | — | — | — | 28 | — | 28 | ||||||||||||||||||||||||||||||||||||||||||||
Unrealized and realized gains and losses on available-for-sale securities | (57 | ) | — | (17 | ) | (38 | ) | 55 | (57 | ) | ||||||||||||||||||||||||||||||||||||||||
Accrual for workers’ compensation | (69 | ) | — | — | — | — | (69 | ) | ||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income | 84,750 | 208 | 22,478 | 10,340 | (33,026 | ) | 84,750 | |||||||||||||||||||||||||||||||||||||||||||
Asset retirement obligations | — | — | (9 | ) | (1,343 | ) | — | (1,352 | ) | |||||||||||||||||||||||||||||||||||||||||
Comprehensive income attributable to Westmoreland Coal Company | $ | 76,623 | $ | 4,423 | $ | 38,557 | $ | 23,412 | $ | (66,392 | ) | $ | 76,623 | |||||||||||||||||||||||||||||||||||||
Accrual for postretirement medical benefits | (374 | ) | — | 935 | 345 | — | 906 | |||||||||||||||||||||||||||||||||||||||||||
____________________ | ||||||||||||||||||||||||||||||||||||||||||||||||||
Pension and SERP obligations | 83 | 1 | 113 | (490 | ) | — | (293 | ) | (1) This table is presented for historical information and presents WML and its subsidiaries as non-guarantor subsidiaries. WML and its subsidiaries became additional guarantor subsidiaries effective on July 31, 2014. | |||||||||||||||||||||||||||||||||||||||||
Other assets and liabilities | (183 | ) | (309 | ) | (1,616 | ) | (2,880 | ) | 6,981 | 1,993 | ||||||||||||||||||||||||||||||||||||||||
Distributions received from subsidiaries | 42,500 | — | — | — | (42,500 | ) | — | |||||||||||||||||||||||||||||||||||||||||||
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (1) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) operating activities | 23,247 | 3,085 | 19,215 | 13,007 | (28,906 | ) | 29,648 | Year Ended December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Cash flows from investing activities: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Additions to property, plant and equipment | 38 | (35 | ) | (2,609 | ) | (444 | ) | — | (3,050 | ) | ||||||||||||||||||||||||||||||||||||||||
Change in restricted investments and bond collateral and reclamation deposits | (471,151 | ) | 5,998 | 4 | (395 | ) | — | (465,544 | ) | Parent/Issuer | Co-Issuer | Guarantor | Non-Guarantor | Consolidating | Total | |||||||||||||||||||||||||||||||||||
Subsidiaries | Subsidiaries | Adjustments | ||||||||||||||||||||||||||||||||||||||||||||||||
Net income (loss) | $ | (13,662 | ) | $ | 8,113 | $ | 37,771 | $ | (4,541 | ) | $ | (41,343 | ) | $ | (13,662 | ) | ||||||||||||||||||||||||||||||||||
Receivable from customer for property and equipment purchases | — | — | — | (10 | ) | — | (10 | ) | ||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income (loss) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Other | — | — | — | (60 | ) | — | (60 | ) | Amortization of accumulated actuarial gains or losses, pension | 2,960 | 23 | — | 766 | (789 | ) | 2,960 | ||||||||||||||||||||||||||||||||||
Net cash provided by (used in) investing activities | (471,113 | ) | 5,963 | (2,605 | ) | (909 | ) | — | (468,664 | ) | Adjustments to accumulated actuarial losses and transition obligations, pension | (9,812 | ) | (52 | ) | (3,034 | ) | (2,132 | ) | 5,218 | (9,812 | ) | ||||||||||||||||||||||||||||
Cash flows from financing activities: | Amortization of accumulated actuarial gains or losses, transition obligations, and prior service costs, postretirement medical benefit | 2,572 | — | — | 973 | (973 | ) | 2,572 | ||||||||||||||||||||||||||||||||||||||||||
Change in book overdrafts | — | — | (317 | ) | 2 | — | (315 | ) | ||||||||||||||||||||||||||||||||||||||||||
Adjustments to accumulated actuarial gains and transition obligations, postretirement medical benefits | (22,342 | ) | — | (1,969 | ) | (865 | ) | 2,834 | (22,342 | ) | ||||||||||||||||||||||||||||||||||||||||
Borrowings from long-term debt | 454,219 | — | — | — | — | 454,219 | ||||||||||||||||||||||||||||||||||||||||||||
Unrealized and realized gains and losses on available-for-sale securities | (268 | ) | — | 1 | (65 | ) | 64 | (268 | ) | |||||||||||||||||||||||||||||||||||||||||
Repayments of long-term debt | — | — | (875 | ) | (5,364 | ) | — | (6,239 | ) | |||||||||||||||||||||||||||||||||||||||||
Other comprehensive income | (26,890 | ) | (29 | ) | (5,002 | ) | (1,323 | ) | 6,354 | (26,890 | ) | |||||||||||||||||||||||||||||||||||||||
Debt issuance costs and other refinancing costs | (7,598 | ) | — | — | — | — | (7,598 | ) | ||||||||||||||||||||||||||||||||||||||||||
Comprehensive income (loss) attributable to Westmoreland Coal Company | $ | (40,552 | ) | $ | 8,084 | $ | 32,769 | $ | (5,864 | ) | $ | (34,989 | ) | $ | (40,552 | ) | ||||||||||||||||||||||||||||||||||
Dividends/distributions | (261 | ) | (8,500 | ) | (18,000 | ) | (16,000 | ) | 42,500 | (261 | ) | |||||||||||||||||||||||||||||||||||||||
____________________ | ||||||||||||||||||||||||||||||||||||||||||||||||||
Transactions with Parent/affiliates | 4,939 | 154 | 3,434 | 5,067 | (13,594 | ) | — | (1) This table is presented for historical information and presents WML and its subsidiaries as non-guarantor subsidiaries. WML and its subsidiaries became additional guarantor subsidiaries effective on July 31, 2014. | ||||||||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) financing activities | 451,299 | (8,346 | ) | (15,758 | ) | (16,295 | ) | 28,906 | 439,806 | |||||||||||||||||||||||||||||||||||||||||
Net increase (decrease) in cash and cash equivalents | 3,433 | 702 | 852 | (4,197 | ) | — | 790 | CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (1) | ||||||||||||||||||||||||||||||||||||||||||
Year Ended December 31, 2011 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents, beginning of period | 25,326 | 3,341 | 7,942 | 24,501 | — | 61,110 | (In thousands) | |||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents, end of period | $ | 28,759 | $ | 4,043 | $ | 8,794 | $ | 20,304 | $ | — | $ | 61,900 | ||||||||||||||||||||||||||||||||||||||
____________________ | Parent/Issuer | Co-Issuer | Guarantor | Non-Guarantor | Consolidating | Total | ||||||||||||||||||||||||||||||||||||||||||||
(1) This table is presented for historical information and presents WML and its subsidiaries as non-guarantor subsidiaries. WML and its subsidiaries became additional guarantor subsidiaries effective on July 31, 2014. | Subsidiaries | Subsidiaries | Adjustments | |||||||||||||||||||||||||||||||||||||||||||||||
CONSOLIDATING STATEMENTS OF CASH FLOWS(1) | Net income (loss) | $ | (36,875 | ) | $ | 5,089 | $ | 3,463 | $ | 5,073 | $ | (13,625 | ) | $ | (36,875 | ) | ||||||||||||||||||||||||||||||||||
Three Months Ended March 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | Other comprehensive income (loss) | |||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of accumulated actuarial gains or losses, pension | 1,647 | 9 | — | 702 | (711 | ) | 1,647 | |||||||||||||||||||||||||||||||||||||||||||
Adjustments to accumulated actuarial losses and transition obligations, pension | (15,798 | ) | (150 | ) | — | (444 | ) | 594 | (15,798 | ) | ||||||||||||||||||||||||||||||||||||||||
Statements of Cash Flows | Parent/ | Co-Issuer | Guarantor | Non-Guarantor | Consolidating | Total | ||||||||||||||||||||||||||||||||||||||||||||
Issuer | Subsidiaries | Subsidiaries | Adjustments | Amortization of accumulated actuarial gains or losses, transition obligations, and prior service costs, postretirement medical benefit | (288 | ) | — | — | 295 | (295 | ) | (288 | ) | |||||||||||||||||||||||||||||||||||||
Cash flows from operating activities: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Net income (loss) | $ | (4,087 | ) | $ | (1,004 | ) | $ | 6,876 | $ | 1,141 | $ | (7,013 | ) | $ | (4,087 | ) | Adjustments to accumulated actuarial gains and transition obligations, postretirement medical benefits | (49,136 | ) | — | — | (9,269 | ) | 9,269 | (49,136 | ) | ||||||||||||||||||||||||
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | Unrealized and realized gains and losses on available-for-sale securities | (200 | ) | — | (103 | ) | (100 | ) | 203 | (200 | ) | |||||||||||||||||||||||||||||||||||||||
Equity in income of subsidiaries | (10,304 | ) | — | — | — | 10,304 | — | |||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income | (63,775 | ) | (141 | ) | (103 | ) | (8,816 | ) | 9,060 | (63,775 | ) | |||||||||||||||||||||||||||||||||||||||
Depreciation, depletion, and amortization | 94 | 2,531 | 5,189 | 6,612 | — | 14,426 | ||||||||||||||||||||||||||||||||||||||||||||
Comprehensive income (loss) attributable to Westmoreland Coal Company | $ | (100,650 | ) | $ | 4,948 | $ | 3,360 | $ | (3,743 | ) | $ | (4,565 | ) | $ | (100,650 | ) | ||||||||||||||||||||||||||||||||||
Accretion of asset retirement obligation and receivable | — | 16 | 1,050 | 2,114 | — | 3,180 | ||||||||||||||||||||||||||||||||||||||||||||
____________________ | ||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of intangible assets and liabilities, net | — | 156 | — | 8 | — | 164 | (1) This table is presented for historical information and presents WML and its subsidiaries as non-guarantor subsidiaries. WML and its subsidiaries became additional guarantor subsidiaries effective on July 31, 2014. | |||||||||||||||||||||||||||||||||||||||||||
Share-based compensation | 682 | 10 | 681 | 1,013 | — | 2,386 | ||||||||||||||||||||||||||||||||||||||||||||
CONSOLIDATING STATEMENTS OF CASH FLOWS (1) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Gain on sales of assets | — | — | (133 | ) | (101 | ) | — | (234 | ) | Year Ended December 31, 2013 | ||||||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of deferred financing costs | 771 | — | 13 | 149 | — | 933 | ||||||||||||||||||||||||||||||||||||||||||||
Loss on sales of investment securities | — | — | 7 | — | — | 7 | ||||||||||||||||||||||||||||||||||||||||||||
Statements of Cash Flows | Parent/ | Co-Issuer | Guarantor | Non-Guarantor | Consolidating | Total | ||||||||||||||||||||||||||||||||||||||||||||
Changes in operating assets and liabilities: | Issuer | Subsidiaries | Subsidiaries | Adjustments | ||||||||||||||||||||||||||||||||||||||||||||||
Receivables, net | 49 | 2,885 | (2,467 | ) | (3,355 | ) | 3,008 | 120 | Cash flows from operating activities: | |||||||||||||||||||||||||||||||||||||||||
Net income (loss) | $ | (8,127 | ) | $ | 4,215 | $ | 16,079 | $ | 13,072 | $ | (33,366 | ) | $ | (8,127 | ) | |||||||||||||||||||||||||||||||||||
Inventories | — | (2,181 | ) | (753 | ) | 247 | — | (2,687 | ) | |||||||||||||||||||||||||||||||||||||||||
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Excess of black lung benefit obligation over trust assets | 83 | — | — | — | — | 83 | Equity in income of subsidiaries | (42,347 | ) | — | — | — | 42,347 | — | ||||||||||||||||||||||||||||||||||||
Accounts payable and accrued expenses | (8,202 | ) | 5,960 | (10 | ) | 6,979 | (1,482 | ) | 3,245 | Depreciation, depletion, and amortization | 354 | 10,178 | 27,452 | 29,247 | — | 67,231 | ||||||||||||||||||||||||||||||||||
Deferred revenue | — | (1,927 | ) | 1,703 | 384 | — | 160 | Accretion of asset retirement obligation and receivable | — | 63 | 4,192 | 8,426 | — | 12,681 | ||||||||||||||||||||||||||||||||||||
Income tax payable | — | — | (1,679 | ) | 1,706 | — | 27 | Non-cash tax benefits | (4,892 | ) | — | — | — | — | (4,892 | ) | ||||||||||||||||||||||||||||||||||
Accrual for workers’ compensation | (191 | ) | — | — | — | — | (191 | ) | Amortization of intangible assets and liabilities, net | — | 622 | — | 43 | — | 665 | |||||||||||||||||||||||||||||||||||
Asset retirement obligations | — | — | (190 | ) | (3,017 | ) | — | (3,207 | ) | Share-based compensation | 2,437 | 37 | 914 | 1,934 | — | 5,322 | ||||||||||||||||||||||||||||||||||
Accrual for postretirement medical benefits | (100 | ) | — | 1,478 | 607 | — | 1,985 | Loss on sale of assets | — | — | 115 | (189 | ) | — | (74 | ) | ||||||||||||||||||||||||||||||||||
Pension and SERP obligations | 320 | 4 | 177 | 241 | — | 742 | Amortization of deferred financing costs | 3,165 | — | 49 | 517 | — | 3,731 | |||||||||||||||||||||||||||||||||||||
Other assets and liabilities | (187 | ) | 465 | (195 | ) | 4,081 | — | 4,164 | Other | — | — | (1,001 | ) | — | — | (1,001 | ) | |||||||||||||||||||||||||||||||||
Distributions received from subsidiaries | 19,600 | — | — | — | (19,600 | ) | — | Loss on extinguishment of debt | 64 | — | — | — | — | 64 | ||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) operating activities | (1,472 | ) | 6,915 | 11,747 | 18,809 | (14,783 | ) | 21,216 | Gain on sales of investments | — | — | 19 | (22 | ) | — | (3 | ) | |||||||||||||||||||||||||||||||||
Cash flows from investing activities: | Changes in operating assets and liabilities: | |||||||||||||||||||||||||||||||||||||||||||||||||
Additions to property, plant and equipment | (157 | ) | (134 | ) | (4,224 | ) | (786 | ) | — | (5,301 | ) | Receivables, net | (18 | ) | (126 | ) | 9,871 | (4,069 | ) | (13,294 | ) | (7,636 | ) | |||||||||||||||||||||||||||
Change in restricted investments and bond collateral and reclamation deposits | (398 | ) | (3 | ) | (151 | ) | (5,883 | ) | — | (6,435 | ) | Inventories | — | (3,114 | ) | 187 | 415 | — | (2,512 | ) | ||||||||||||||||||||||||||||||
Net proceeds from sales of assets | — | — | 309 | 132 | — | 441 | Excess of black lung benefit obligation over trust assets | 319 | — | — | — | — | 319 | |||||||||||||||||||||||||||||||||||||
Proceeds from the sale of investments | — | — | 120 | 5,499 | — | 5,619 | Accounts payable and accrued expenses | (613 | ) | 5,141 | 4,082 | (9,852 | ) | 14,821 | 13,579 | |||||||||||||||||||||||||||||||||||
Deferred revenue | — | (8,706 | ) | 972 | (1,344 | ) | — | (9,078 | ) | |||||||||||||||||||||||||||||||||||||||||
Receivable from customer for property and equipment purchases | — | — | — | (49 | ) | — | (49 | ) | Income tax payable | — | — | (1,679 | ) | 1,678 | — | (1 | ) | |||||||||||||||||||||||||||||||||
Net cash provided by (used in) investing activities | (555 | ) | (137 | ) | (3,946 | ) | (1,087 | ) | — | (5,725 | ) | Accrual for workers’ compensation | (2,069 | ) | — | — | — | — | (2,069 | ) | ||||||||||||||||||||||||||||||
Cash flows from financing activities: | Asset retirement obligations | — | — | (1,971 | ) | (7,439 | ) | — | (9,410 | ) | ||||||||||||||||||||||||||||||||||||||||
Change in book overdrafts | — | — | (7 | ) | 827 | — | 820 | |||||||||||||||||||||||||||||||||||||||||||
Accrual for postretirement medical benefits | 101 | — | 5,620 | 2,000 | — | 7,721 | ||||||||||||||||||||||||||||||||||||||||||||
Repayments of long-term debt | — | — | (713 | ) | (5,860 | ) | — | (6,573 | ) | |||||||||||||||||||||||||||||||||||||||||
Pension and SERP obligations | 1,391 | 18 | 589 | 390 | — | 2,388 | ||||||||||||||||||||||||||||||||||||||||||||
Borrowings on revolving lines of credit | — | — | — | 6,000 | — | 6,000 | ||||||||||||||||||||||||||||||||||||||||||||
Other assets and liabilities | (144 | ) | 4,983 | 8,206 | 4,124 | (5,350 | ) | 11,819 | ||||||||||||||||||||||||||||||||||||||||||
Repayments on revolving lines of credit | — | — | — | (6,000 | ) | — | (6,000 | ) | ||||||||||||||||||||||||||||||||||||||||||
Distributions received from subsidiaries | 78,000 | — | — | — | (78,000 | ) | — | |||||||||||||||||||||||||||||||||||||||||||
Debt issuance costs and other refinancing costs | — | — | — | (156 | ) | — | (156 | ) | ||||||||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) operating activities | 27,621 | 13,311 | 73,696 | 38,931 | (72,842 | ) | 80,717 | |||||||||||||||||||||||||||||||||||||||||||
Dividends/distributions | (340 | ) | (6,500 | ) | (8,000 | ) | (5,100 | ) | 19,600 | (340 | ) | |||||||||||||||||||||||||||||||||||||||
Cash flows from investing activities: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Transactions with Parent/affiliates | (22,106 | ) | (16 | ) | 2,255 | 4,076 | 15,791 | — | Additions to property, plant and equipment | (737 | ) | (790 | ) | (17,156 | ) | (9,908 | ) | — | (28,591 | ) | ||||||||||||||||||||||||||||||
Net cash provided by (used in) financing activities | (22,446 | ) | (6,516 | ) | (6,465 | ) | (6,213 | ) | 35,391 | (6,249 | ) | Change in restricted investments and bond collateral and reclamation deposits | 49 | (8 | ) | 1,766 | (373 | ) | — | 1,434 | ||||||||||||||||||||||||||||||
Net increase (decrease) in cash and cash equivalents | (24,473 | ) | 262 | 1,336 | 11,509 | 20,608 | 9,242 | Net proceeds from sales of assets | — | — | 534 | 368 | — | 902 | ||||||||||||||||||||||||||||||||||||
Cash and cash equivalents, beginning of period | 14,836 | 4,545 | 5,362 | 6,867 | — | 31,610 | ||||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents, end of period | $ | (9,637 | ) | $ | 4,807 | $ | 6,698 | $ | 18,376 | $ | 20,608 | $ | 40,852 | Proceeds from the sale of restricted investments | — | — | 788 | 7,499 | — | 8,287 | ||||||||||||||||||||||||||||||
____________________ | Receivable from customer for property and equipment purchases | — | — | — | (389 | ) | — | (389 | ) | |||||||||||||||||||||||||||||||||||||||||
(1) This table is presented for historical information and presents WML and its subsidiaries as non-guarantor subsidiaries. WML and its subsidiaries became additional guarantor subsidiaries effective on July 31, 2014. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Other | — | — | (2,500 | ) | (1,040 | ) | — | (3,540 | ) | |||||||||||||||||||||||||||||||||||||||||
On July 31, 2014, WML and WML’s four subsidiaries entered into the Fifth Supplemental Indenture (the “Fifth Supplemental Indenture”) to the existing indenture dated as of February 4, 2011, as amended and supplemented (the “Indenture”) among the Company and Westmoreland Partners, as co-issuers (together, the “Co-Issuers”), the guarantors named therein (the “Existing Guarantors”), Wells Fargo Bank, National Association, as trustee, and Wells Fargo Bank, National Association, as note collateral agent, which governs the 10.75% Senior Notes. Pursuant to the Fifth Supplemental Indenture, WML and its subsidiaries (the “New Guarantors”) each became restricted subsidiaries that are subject to the terms and conditions of the Indenture and agreed to guarantee the 10.75% Senior Notes on the same terms and conditions as the other Existing Guarantors. In connection with their entering into the Fifth Supplemental Indenture, the New Guarantors also entered into a Pledge and Security Agreement Supplement by which they secured their obligations under their guarantees and the obligations of the Company and the Co-Issuers under the Indenture. | ||||||||||||||||||||||||||||||||||||||||||||||||||
The following tables present revised unaudited consolidating financial information to reflect WML and its subsidiaries as additional subsidiary guarantors of the 10.75% Senior Notes resulting from the Fifth Supplemental Indenture. | Net cash provided by (used in) investing activities | (688 | ) | (798 | ) | (16,568 | ) | (3,843 | ) | — | (21,897 | ) | ||||||||||||||||||||||||||||||||||||||
CONSOLIDATING BALANCE SHEETS | Cash flows from financing activities: | |||||||||||||||||||||||||||||||||||||||||||||||||
March 31, 2014 | Change in book overdrafts | — | — | 310 | — | — | 310 | |||||||||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Repayments of long-term debt | (500 | ) | — | (2,322 | ) | (25,266 | ) | — | (28,088 | ) | ||||||||||||||||||||||||||||||||||||||||
Borrowings on revolving lines of credit | — | — | — | 7,000 | — | 7,000 | ||||||||||||||||||||||||||||||||||||||||||||
Assets | Parent/ | Co-Issuer | Guarantor | Non- | Consolidating | Total | ||||||||||||||||||||||||||||||||||||||||||||
Issuer | Subsidiaries | Guarantor | Adjustments | Repayments on revolving lines of credit | — | — | — | (7,000 | ) | — | (7,000 | ) | ||||||||||||||||||||||||||||||||||||||
Subsidiaries | ||||||||||||||||||||||||||||||||||||||||||||||||||
Current assets: | Debt issuance costs and other refinancing costs | (26 | ) | — | — | (156 | ) | — | (182 | ) | ||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 28,759 | $ | 4,043 | $ | 27,267 | $ | 1,831 | $ | — | $ | 61,900 | ||||||||||||||||||||||||||||||||||||||
Dividends/distributions | (1,360 | ) | (14,500 | ) | (44,500 | ) | (19,000 | ) | 78,000 | (1,360 | ) | |||||||||||||||||||||||||||||||||||||||
Receivables: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Trade | — | 12,456 | 52,259 | — | — | 64,715 | Transactions with Parent/affiliates | (14,557 | ) | 783 | (8,036 | ) | 26,968 | (5,158 | ) | — | ||||||||||||||||||||||||||||||||||
Contractual third-party reclamation receivables | — | — | 8,213 | — | — | 8,213 | Net cash provided by (used in) financing activities | (16,443 | ) | (13,717 | ) | (54,548 | ) | (17,454 | ) | 72,842 | (29,320 | ) | ||||||||||||||||||||||||||||||||
Intercompany receivable/payable | (15,366 | ) | — | 1,729 | (19,073 | ) | 32,710 | — | Net increase (decrease) in cash and cash equivalents | 10,490 | (1,204 | ) | 2,580 | 17,634 | — | 29,500 | ||||||||||||||||||||||||||||||||||
Other | 567 | 208 | 589 | 42 | (31 | ) | 1,375 | Cash and cash equivalents, beginning of year | 14,836 | 4,545 | 5,362 | 6,867 | — | 31,610 | ||||||||||||||||||||||||||||||||||||
(14,799 | ) | 12,664 | 62,790 | (19,031 | ) | 32,679 | 74,303 | Cash and cash equivalents, end of year | $ | 25,326 | $ | 3,341 | $ | 7,942 | $ | 24,501 | $ | — | $ | 61,110 | ||||||||||||||||||||||||||||||
Inventories | — | 1,845 | 33,602 | — | — | 35,447 | ____________________ | |||||||||||||||||||||||||||||||||||||||||||
(1) This table is presented for historical information and presents WML and its subsidiaries as non-guarantor subsidiaries. WML and its subsidiaries became additional guarantor subsidiaries effective on July 31, 2014. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Restricted investments and bond collateral | 16,900 | — | — | — | — | 16,900 | ||||||||||||||||||||||||||||||||||||||||||||
CONSOLIDATING STATEMENTS OF CASH FLOWS (1) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Other current assets | 7,073 | 425 | 8,723 | 421 | 1 | 16,643 | Year Ended December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total current assets | 37,933 | 18,977 | 132,382 | (16,779 | ) | 32,680 | 205,193 | |||||||||||||||||||||||||||||||||||||||||||
Property, plant and equipment: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Land and mineral rights | — | 1,395 | 276,803 | — | — | 278,198 | Statements of Cash Flows | Parent/ | Co-Issuer | Guarantor | Non-Guarantor | Consolidating | Total | |||||||||||||||||||||||||||||||||||||
Issuer | Subsidiaries | Subsidiaries | Adjustments | |||||||||||||||||||||||||||||||||||||||||||||||
Plant and equipment | 4,000 | 220,932 | 448,257 | — | — | 673,189 | Cash flows from operating activities: | |||||||||||||||||||||||||||||||||||||||||||
Net income (loss) | $ | (13,662 | ) | $ | 8,113 | $ | 37,771 | $ | (4,541 | ) | $ | (41,343 | ) | $ | (13,662 | ) | ||||||||||||||||||||||||||||||||||
4,000 | 222,327 | 725,060 | — | — | 951,387 | |||||||||||||||||||||||||||||||||||||||||||||
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Less accumulated depreciation, depletion and amortization | 2,784 | 74,177 | 384,794 | — | (1 | ) | 461,754 | Equity in income of subsidiaries | (45,762 | ) | — | — | — | 45,762 | — | |||||||||||||||||||||||||||||||||||
Net property, plant and equipment | 1,216 | 148,150 | 340,266 | — | 1 | 489,633 | Depreciation, depletion, and amortization | 421 | 10,085 | 19,571 | 27,068 | — | 57,145 | |||||||||||||||||||||||||||||||||||||
Advanced coal royalties | — | — | 7,263 | — | — | 7,263 | Accretion of asset retirement obligation and receivable | — | 59 | 4,038 | 8,092 | — | 12,189 | |||||||||||||||||||||||||||||||||||||
Reclamation deposits | — | — | 75,315 | — | — | 75,315 | Amortization of intangible assets and liabilities, net | — | 622 | — | 36 | — | 658 | |||||||||||||||||||||||||||||||||||||
Restricted investments and bond collateral | 469,385 | — | 54,098 | — | — | 523,483 | Share-based compensation | 2,716 | 44 | 559 | 2,721 | — | 6,040 | |||||||||||||||||||||||||||||||||||||
Contractual third-party reclamation receivables | — | — | 88,036 | — | — | 88,036 | Loss (gain) on sale of assets | 13 | — | 251 | 264 | — | 528 | |||||||||||||||||||||||||||||||||||||
Intangible assets | — | 871 | 228 | — | — | 1,099 | Amortization of deferred financing costs | 2,889 | — | 847 | 622 | — | 4,358 | |||||||||||||||||||||||||||||||||||||
Investment in subsidiaries | 252,832 | — | — | 3,770 | (256,602 | ) | — | Loss on extinguishment of debt | 1,986 | — | — | — | — | 1,986 | ||||||||||||||||||||||||||||||||||||
Other assets | 15,563 | — | 1,562 | 3,500 | (3,500 | ) | 17,125 | Gain on sales of investments | (190 | ) | — | — | 25 | — | (165 | ) | ||||||||||||||||||||||||||||||||||
Total assets | $ | 776,929 | $ | 167,998 | $ | 699,150 | $ | (9,509 | ) | $ | (227,421 | ) | $ | 1,407,147 | Changes in operating assets and liabilities: | |||||||||||||||||||||||||||||||||||
Receivables, net | 147 | (151 | ) | (20,910 | ) | 102 | 7,957 | (12,855 | ) | |||||||||||||||||||||||||||||||||||||||||
CONSOLIDATING BALANCE SHEETS | ||||||||||||||||||||||||||||||||||||||||||||||||||
March 31, 2014 | Inventories | — | 709 | (2,389 | ) | (484 | ) | — | (2,164 | ) | ||||||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Excess of black lung benefit obligation over trust assets | 1,791 | — | — | — | — | 1,791 | ||||||||||||||||||||||||||||||||||||||||||||
Accounts payable and accrued expenses | 4,981 | (3,209 | ) | 18,396 | 5,453 | (8,222 | ) | 17,399 | ||||||||||||||||||||||||||||||||||||||||||
Liabilities and Shareholders’ Deficit | Parent/ | Co-Issuer | Guarantor | Non- | Consolidating | Total | ||||||||||||||||||||||||||||||||||||||||||||
Issuer | Subsidiaries | Guarantor | Adjustments | Deferred revenue | — | (8,312 | ) | 772 | (658 | ) | — | (8,198 | ) | |||||||||||||||||||||||||||||||||||||
Subsidiaries | ||||||||||||||||||||||||||||||||||||||||||||||||||
Current liabilities | Accrual for workers’ compensation | (2,096 | ) | — | — | — | — | (2,096 | ) | |||||||||||||||||||||||||||||||||||||||||
Current installments of long-term debt | $ | 22,785 | $ | — | $ | 25,801 | $ | — | $ | — | $ | 48,586 | ||||||||||||||||||||||||||||||||||||||
Asset retirement obligations | — | — | (1,198 | ) | (5,745 | ) | — | (6,943 | ) | |||||||||||||||||||||||||||||||||||||||||
Accounts payable and accrued expenses: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Trade | 11,003 | 6,331 | 44,577 | 688 | (1 | ) | 62,598 | Accrual for postretirement medical benefits | (524 | ) | — | 4,858 | 1,857 | — | 6,191 | |||||||||||||||||||||||||||||||||||
Production taxes | — | 405 | 43,732 | 2,657 | — | 46,794 | Pension and SERP obligations | 1,286 | 15 | 709 | 792 | — | 2,802 | |||||||||||||||||||||||||||||||||||||
Workers’ compensation | 712 | — | — | — | — | 712 | Other assets and liabilities | (243 | ) | (536 | ) | 1,047 | (10,128 | ) | 2,000 | (7,860 | ) | |||||||||||||||||||||||||||||||||
Postretirement medical benefits | 12,042 | — | 773 | 1,139 | 1 | 13,955 | Distributions received from subsidiaries | 31,971 | — | — | — | (31,971 | ) | — | ||||||||||||||||||||||||||||||||||||
SERP | 390 | — | — | — | — | 390 | Net cash provided by (used in) operating activities | (14,276 | ) | 7,439 | 64,322 | 25,476 | (25,817 | ) | 57,144 | |||||||||||||||||||||||||||||||||||
Deferred revenue | — | 9,581 | 6,453 | — | — | 16,034 | Cash flows from investing activities: | |||||||||||||||||||||||||||||||||||||||||||
Additions to property, plant and equipment | (159 | ) | (2,067 | ) | (8,385 | ) | (10,421 | ) | — | (21,032 | ) | |||||||||||||||||||||||||||||||||||||||
Asset retirement obligations | — | — | 22,227 | — | — | 22,227 | ||||||||||||||||||||||||||||||||||||||||||||
Change in restricted investments and bond collateral and reclamation deposits | (3,248 | ) | (7 | ) | (27,504 | ) | (3,133 | ) | — | (33,892 | ) | |||||||||||||||||||||||||||||||||||||||
Other current liabilities | 19,196 | 5,053 | 172 | — | (31 | ) | 24,390 | |||||||||||||||||||||||||||||||||||||||||||
Cash payments related to acquisitions and other | 4,000 | — | (76,522 | ) | — | — | (72,522 | ) | ||||||||||||||||||||||||||||||||||||||||||
Total current liabilities | 66,128 | 21,370 | 143,735 | 4,484 | (31 | ) | 235,686 | |||||||||||||||||||||||||||||||||||||||||||
Net proceeds from sales of assets | — | — | 240 | 240 | — | 480 | ||||||||||||||||||||||||||||||||||||||||||||
Long-term debt, less current installments | 677,385 | — | 77,760 | — | (3,500 | ) | 751,645 | |||||||||||||||||||||||||||||||||||||||||||
Proceeds from the sale of restricted investments | 1,581 | — | 1,889 | 636 | — | 4,106 | ||||||||||||||||||||||||||||||||||||||||||||
Workers’ compensation, less current portion | 6,680 | — | — | — | — | 6,680 | ||||||||||||||||||||||||||||||||||||||||||||
Receivable from customer for property and equipment purchases | — | — | — | (674 | ) | — | (674 | ) | ||||||||||||||||||||||||||||||||||||||||||
Excess of black lung benefit obligation over trust assets | 9,376 | — | — | — | — | 9,376 | ||||||||||||||||||||||||||||||||||||||||||||
Postretirement medical benefits, less current portion | 185,447 | — | 67,724 | 18,104 | — | 271,275 | ||||||||||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) investing activities | 2,174 | (2,074 | ) | (110,282 | ) | (13,352 | ) | — | (123,534 | ) | ||||||||||||||||||||||||||||||||||||||||
Pension and SERP obligations, less current portion | 12,921 | 98 | 10,264 | 241 | — | 23,524 | ||||||||||||||||||||||||||||||||||||||||||||
Cash flows from financing activities: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Deferred revenue, less current portion | — | 38,325 | 4,974 | — | — | 43,299 | Change in book overdrafts | — | (259 | ) | 6 | — | — | (253 | ) | |||||||||||||||||||||||||||||||||||
Asset retirement obligations, less current portion | — | 909 | 258,127 | — | — | 259,036 | Borrowings from long-term debt | 119,364 | — | — | — | — | 119,364 | |||||||||||||||||||||||||||||||||||||
Intangible liabilities | — | 5,339 | — | — | — | 5,339 | Repayments of long-term debt | (23,000 | ) | — | (2,494 | ) | (19,352 | ) | — | (44,846 | ) | |||||||||||||||||||||||||||||||||
Other liabilities | 6,440 | — | 467 | 596 | — | 7,503 | Borrowings on revolving lines of credit | — | — | — | 16,500 | — | 16,500 | |||||||||||||||||||||||||||||||||||||
Intercompany receivable/payable | 18,768 | — | (13,502 | ) | 14,654 | (19,920 | ) | — | Repayments on revolving lines of credit | — | — | — | (16,500 | ) | — | (16,500 | ) | |||||||||||||||||||||||||||||||||
Total liabilities | 983,145 | 66,041 | 549,549 | 38,079 | (23,451 | ) | 1,613,363 | Debt issuance costs and other refinancing costs | (5,666 | ) | — | — | (22 | ) | — | (5,688 | ) | |||||||||||||||||||||||||||||||||
Shareholders’ deficit | Dividends/distributions | (1,360 | ) | (1,050 | ) | (19,173 | ) | (11,748 | ) | 31,971 | (1,360 | ) | ||||||||||||||||||||||||||||||||||||||
Preferred stock | 121 | — | — | — | — | 121 | ||||||||||||||||||||||||||||||||||||||||||||
Transactions with Parent/affiliates | (88,541 | ) | 483 | 72,840 | 21,372 | (6,154 | ) | — | ||||||||||||||||||||||||||||||||||||||||||
Common stock | 37,155 | 5 | 110 | 132 | (247 | ) | 37,155 | |||||||||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) financing activities | 797 | (826 | ) | 51,179 | (9,750 | ) | 25,817 | 67,217 | ||||||||||||||||||||||||||||||||||||||||||
Other paid-in capital | 134,953 | 52,842 | 158,051 | (124 | ) | (210,770 | ) | 134,952 | ||||||||||||||||||||||||||||||||||||||||||
Net increase (decrease) in cash and cash equivalents | (11,305 | ) | 4,539 | 5,219 | 2,374 | — | 827 | |||||||||||||||||||||||||||||||||||||||||||
Accumulated other comprehensive loss | (63,369 | ) | (162 | ) | 6,512 | (3,077 | ) | (3,273 | ) | (63,369 | ) | |||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents, beginning of year | 26,141 | 6 | 143 | 4,493 | — | 30,783 | ||||||||||||||||||||||||||||||||||||||||||||
Accumulated earnings (deficit) | (315,076 | ) | 49,272 | (15,072 | ) | (44,519 | ) | 10,320 | (315,075 | ) | ||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents, end of year | $ | 14,836 | $ | 4,545 | $ | 5,362 | $ | 6,867 | $ | — | $ | 31,610 | ||||||||||||||||||||||||||||||||||||||
Total equity (deficit) | (206,216 | ) | 101,957 | 149,601 | (47,588 | ) | (203,970 | ) | (206,216 | ) | ||||||||||||||||||||||||||||||||||||||||
____________________ | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total liabilities and shareholders’ deficit | $ | 776,929 | $ | 167,998 | $ | 699,150 | $ | (9,509 | ) | $ | (227,421 | ) | $ | 1,407,147 | (1) This table is presented for historical information and presents WML and its subsidiaries as non-guarantor subsidiaries. WML and its subsidiaries became additional guarantor subsidiaries effective on July 31, 2014. | |||||||||||||||||||||||||||||||||||
CONSOLIDATING BALANCE SHEETS | CONSOLIDATING STATEMENTS OF CASH FLOWS (1) | |||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | Year Ended December 31, 2011 | |||||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | (In thousands) | |||||||||||||||||||||||||||||||||||||||||||||||||
Assets | Parent/ | Co-Issuer | Guarantor | Non- | Consolidating | Total | Statements of Cash Flows | Parent/ | Co-Issuer | Guarantor | Non-Guarantor | Consolidating | Total | |||||||||||||||||||||||||||||||||||||
Issuer | Subsidiaries | Guarantor | Adjustments | Issuer | Subsidiaries | Subsidiaries | Adjustments | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries | Cash flows from operating activities: | |||||||||||||||||||||||||||||||||||||||||||||||||
Current assets: | Net loss | $ | (36,875 | ) | $ | 5,089 | $ | 3,463 | $ | 5,073 | $ | (13,625 | ) | $ | (36,875 | ) | ||||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 25,326 | $ | 3,341 | $ | 27,451 | $ | 4,992 | $ | — | $ | 61,110 | ||||||||||||||||||||||||||||||||||||||
Adjustments to reconcile net loss to net cash provided by operating activities: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Receivables: | Equity in income of subsidiaries | (18,508 | ) | — | — | — | 18,508 | — | ||||||||||||||||||||||||||||||||||||||||||
Trade | — | 12,934 | 46,985 | 6,277 | — | 66,196 | ||||||||||||||||||||||||||||||||||||||||||||
Depreciation, depletion, and amortization | 306 | 10,175 | 7,936 | 27,177 | — | 45,594 | ||||||||||||||||||||||||||||||||||||||||||||
Contractual third-party reclamation receivables | — | — | 8,487 | — | — | 8,487 | ||||||||||||||||||||||||||||||||||||||||||||
Accretion of asset retirement obligation and receivable | — | 55 | 3,034 | 7,789 | — | 10,878 | ||||||||||||||||||||||||||||||||||||||||||||
Intercompany receivable/payable | (16,273 | ) | — | 2,761 | (19,353 | ) | 32,865 | — | ||||||||||||||||||||||||||||||||||||||||||
Amortization of intangible assets and liabilities, net | — | 621 | — | 36 | — | 657 | ||||||||||||||||||||||||||||||||||||||||||||
Other | 1,616 | 210 | 3,256 | 28 | (24 | ) | 5,086 | |||||||||||||||||||||||||||||||||||||||||||
Share-based compensation | 1,671 | 32 | 249 | 2,769 | — | 4,721 | ||||||||||||||||||||||||||||||||||||||||||||
(14,657 | ) | 13,144 | 61,489 | (13,048 | ) | 32,841 | 79,769 | |||||||||||||||||||||||||||||||||||||||||||
Loss (gain) on sale of assets | 3 | 189 | 59 | 389 | — | 640 | ||||||||||||||||||||||||||||||||||||||||||||
Inventories | — | 6,161 | 33,811 | — | — | 39,972 | ||||||||||||||||||||||||||||||||||||||||||||
Amortization of deferred financing costs | 1,485 | (21 | ) | 383 | 668 | — | 2,515 | |||||||||||||||||||||||||||||||||||||||||||
Deferred income taxes | — | — | 870 | — | (870 | ) | — | |||||||||||||||||||||||||||||||||||||||||||
Loss on extinguishment of debt | 7,873 | 9,073 | 84 | — | — | 17,030 | ||||||||||||||||||||||||||||||||||||||||||||
Restricted investments and bond collateral | — | 5,998 | — | — | — | 5,998 | ||||||||||||||||||||||||||||||||||||||||||||
Gain on sales of investments | — | — | (75 | ) | (75 | ) | — | (150 | ) | |||||||||||||||||||||||||||||||||||||||||
Other current assets | 6,144 | 143 | 11,069 | 834 | — | 18,190 | ||||||||||||||||||||||||||||||||||||||||||||
Loss on derivative instruments | 3,079 | — | — | — | — | 3,079 | ||||||||||||||||||||||||||||||||||||||||||||
Total current assets | 16,813 | 28,787 | 134,690 | (7,222 | ) | 31,971 | 205,039 | |||||||||||||||||||||||||||||||||||||||||||
Changes in operating assets and liabilities: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Property, plant and equipment: | Receivables, net | (158 | ) | 1,479 | (4,343 | ) | 2,263 | 6,250 | 5,491 | |||||||||||||||||||||||||||||||||||||||||
Land and mineral rights | — | 1,395 | 276,793 | — | — | 278,188 | ||||||||||||||||||||||||||||||||||||||||||||
Inventories | — | (1,820 | ) | 134 | (439 | ) | — | (2,125 | ) | |||||||||||||||||||||||||||||||||||||||||
Plant and equipment | 3,973 | 220,872 | 432,851 | — | — | 657,696 | ||||||||||||||||||||||||||||||||||||||||||||
Excess of black lung benefit obligation over trust assets | 4,319 | — | — | — | — | 4,319 | ||||||||||||||||||||||||||||||||||||||||||||
3,973 | 222,267 | 709,644 | — | — | 935,884 | |||||||||||||||||||||||||||||||||||||||||||||
Accounts payable and accrued expenses | 5,849 | (1,063 | ) | 378 | 3,103 | (4,139 | ) | 4,128 | ||||||||||||||||||||||||||||||||||||||||||
Less accumulated depreciation, depletion and amortization | 2,707 | 71,653 | 371,488 | — | — | 445,848 | ||||||||||||||||||||||||||||||||||||||||||||
Deferred revenue | — | (8,774 | ) | (349 | ) | (795 | ) | — | (9,918 | ) | ||||||||||||||||||||||||||||||||||||||||
Net property, plant and equipment | 1,266 | 150,614 | 338,156 | — | — | 490,036 | ||||||||||||||||||||||||||||||||||||||||||||
Accrual for workers’ compensation | 1,248 | — | — | — | — | 1,248 | ||||||||||||||||||||||||||||||||||||||||||||
Advanced coal royalties | — | — | 7,311 | — | — | 7,311 | ||||||||||||||||||||||||||||||||||||||||||||
Asset retirement obligations | — | — | (875 | ) | (5,635 | ) | — | (6,510 | ) | |||||||||||||||||||||||||||||||||||||||||
Reclamation deposits | — | — | 74,921 | — | — | 74,921 | ||||||||||||||||||||||||||||||||||||||||||||
Accrual for postretirement medical benefits | (2,878 | ) | — | — | 1,235 | — | (1,643 | ) | ||||||||||||||||||||||||||||||||||||||||||
Restricted investments and bond collateral | 15,134 | — | 54,101 | — | — | 69,235 | ||||||||||||||||||||||||||||||||||||||||||||
Pension and SERP obligations | (4,320 | ) | (50 | ) | — | 3,092 | — | (1,278 | ) | |||||||||||||||||||||||||||||||||||||||||
Contractual third-party reclamation receivables | — | — | 88,303 | — | — | 88,303 | ||||||||||||||||||||||||||||||||||||||||||||
Other assets and liabilities | 444 | (529 | ) | 3,839 | (392 | ) | (428 | ) | 2,934 | |||||||||||||||||||||||||||||||||||||||||
Intangible assets | — | 1,283 | 237 | — | — | 1,520 | ||||||||||||||||||||||||||||||||||||||||||||
Distributions received from subsidiaries | 23,400 | — | — | — | (23,400 | ) | — | |||||||||||||||||||||||||||||||||||||||||||
Investment in subsidiaries | 280,843 | — | — | 3,770 | (284,613 | ) | — | |||||||||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) operating activities | (13,062 | ) | 14,456 | 13,917 | 46,258 | (16,834 | ) | 44,735 | ||||||||||||||||||||||||||||||||||||||||||
Other assets | 8,636 | — | 1,683 | 2,000 | (1,999 | ) | 10,320 | |||||||||||||||||||||||||||||||||||||||||||
Cash flows from investing activities: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total assets | $ | 322,692 | $ | 180,684 | $ | 699,402 | $ | (1,452 | ) | $ | (254,641 | ) | $ | 946,685 | Additions to property, plant and equipment | (797 | ) | (2,119 | ) | (2,569 | ) | (22,109 | ) | — | (27,594 | ) | ||||||||||||||||||||||||
CONSOLIDATING BALANCE SHEETS | Change in restricted investments and bond collateral and reclamation deposits | (1,714 | ) | 2,581 | (3,738 | ) | (3,115 | ) | — | (5,986 | ) | |||||||||||||||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | Cash payments related to acquisitions and other | (4,000 | ) | — | — | — | — | (4,000 | ) | |||||||||||||||||||||||||||||||||||||||||
Net proceeds from sales of assets | — | — | 250 | 437 | — | 687 | ||||||||||||||||||||||||||||||||||||||||||||
Liabilities and Shareholders’ Deficit | Parent/ | Co-Issuer | Guarantor | Non- | Consolidating | Total | Proceeds from the sale of investments | — | — | 1,075 | 2,275 | — | 3,350 | |||||||||||||||||||||||||||||||||||||
Issuer | Subsidiaries | Guarantor | Adjustments | |||||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries | ||||||||||||||||||||||||||||||||||||||||||||||||||
Current liabilities | ||||||||||||||||||||||||||||||||||||||||||||||||||
Current installments of long-term debt | $ | 20,392 | $ | — | $ | 23,951 | $ | — | $ | — | $ | 44,343 | Receivable from customer for property and equipment purchases | — | — | — | (96 | ) | — | (96 | ) | |||||||||||||||||||||||||||||
Accounts payable and accrued expenses: | Net cash provided by (used in) investing activities | (6,511 | ) | 462 | (4,982 | ) | (22,608 | ) | — | (33,639 | ) | |||||||||||||||||||||||||||||||||||||||
Trade | 6,840 | 10,119 | 38,061 | 2,487 | — | 57,507 | ||||||||||||||||||||||||||||||||||||||||||||
Cash flows from financing activities: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Production taxes | — | 3 | 36,522 | 5,380 | — | 41,905 | Change in book overdrafts | (146 | ) | 259 | (694 | ) | (143 | ) | — | (724 | ) | |||||||||||||||||||||||||||||||||
Workers’ compensation | 717 | — | — | — | — | 717 | Borrowings from long-term debt | 142,500 | — | — | — | — | 142,500 | |||||||||||||||||||||||||||||||||||||
Postretirement medical benefits | 12,042 | — | 774 | 1,139 | — | 13,955 | Repayments of long-term debt | (2,532 | ) | (46,220 | ) | (11,982 | ) | (12,832 | ) | — | (73,566 | ) | ||||||||||||||||||||||||||||||||
SERP | 390 | — | — | — | — | 390 | Borrowings on revolving lines of credit | — | 1,500 | 12,200 | 73,500 | — | 87,200 | |||||||||||||||||||||||||||||||||||||
Deferred revenue | — | 9,024 | 5,044 | — | — | 14,068 | Repayments on revolving lines of credit | — | (1,500 | ) | (29,100 | ) | (75,000 | ) | — | (105,600 | ) | |||||||||||||||||||||||||||||||||
Asset retirement obligations | — | — | 23,353 | — | — | 23,353 | Debt issuance costs | (6,042 | ) | (9,077 | ) | 100 | — | — | (15,019 | ) | ||||||||||||||||||||||||||||||||||
Other current liabilities | 11,302 | 5,053 | 457 | — | (22 | ) | 16,790 | Exercise of stock options | 422 | — | — | — | — | 422 | ||||||||||||||||||||||||||||||||||||
Total current liabilities | 51,683 | 24,199 | 128,162 | 9,006 | (22 | ) | 213,028 | Dividends/distributions | (21,301 | ) | (10,700 | ) | — | (12,700 | ) | 23,400 | (21,301 | ) | ||||||||||||||||||||||||||||||||
Long-term debt, less current installments | 224,582 | — | 72,912 | — | (2,000 | ) | 295,494 | Transactions with Parent/affiliates | (67,458 | ) | 49,946 | 20,684 | 3,394 | (6,566 | ) | — | ||||||||||||||||||||||||||||||||||
Workers’ compensation, less current portion | 6,744 | — | — | — | — | 6,744 | Net cash provided by (used in) financing activities | 45,443 | (15,792 | ) | (8,792 | ) | (23,781 | ) | 16,834 | 13,912 | ||||||||||||||||||||||||||||||||||
Excess of black lung benefit obligation over trust assets | 8,675 | — | — | — | — | 8,675 | Net increase (decrease) in cash and cash equivalents | 25,870 | (874 | ) | 143 | (131 | ) | — | 25,008 | |||||||||||||||||||||||||||||||||||
Postretirement medical benefits, less current portion | 185,858 | — | 66,439 | 18,077 | — | 270,374 | Cash and cash equivalents, beginning of year | 271 | 880 | — | 4,624 | — | 5,775 | |||||||||||||||||||||||||||||||||||||
Pension and SERP obligations, less current portion | 13,069 | 99 | 10,765 | 243 | — | 24,176 | Cash and cash equivalents, end of year | $ | 26,141 | $ | 6 | $ | 143 | $ | 4,493 | $ | — | $ | 30,783 | |||||||||||||||||||||||||||||||
Deferred revenue, less current portion | — | 41,297 | 5,270 | — | — | 46,567 | ____________________ | |||||||||||||||||||||||||||||||||||||||||||
(1) This table is presented for historical information and presents WML and its subsidiaries as non-guarantor subsidiaries. WML and its subsidiaries became additional guarantor subsidiaries effective on July 31, 2014. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Asset retirement obligations, less current portion | — | 892 | 255,619 | — | — | 256,511 | ||||||||||||||||||||||||||||||||||||||||||||
Intangible liabilities | — | 5,606 | — | — | — | 5,606 | ||||||||||||||||||||||||||||||||||||||||||||
Other liabilities | 5,939 | — | 6,687 | 983 | (6,220 | ) | 7,389 | |||||||||||||||||||||||||||||||||||||||||||
On July 31, 2014, WML and WML’s four subsidiaries entered into the Fifth Supplemental Indenture (the “Fifth Supplemental Indenture”) to the existing indenture dated as of February 4, 2011, as amended and supplemented (the “Indenture”) among the Company and Westmoreland Partners, as co-issuers (together, the “Co-Issuers”), the guarantors named therein (the “Existing Guarantors”), Wells Fargo Bank, National Association, as trustee, and Wells Fargo Bank, National Association, as note collateral agent, which governs the 10.75% Senior Notes. Pursuant to the Fifth Supplemental Indenture, WML and its subsidiaries (the “New Guarantors”) each became restricted subsidiaries that are subject to the terms and conditions of the Indenture and agreed to guarantee the 10.75% Senior Notes on the same terms and conditions as the other Existing Guarantors. In connection with their entering into the Fifth Supplemental Indenture, the New Guarantors also entered into a Pledge and Security Agreement Supplement by which they secured their obligations under their guarantees and the obligations of the Company and the Co-Issuers under the Indenture. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Intercompany receivable/payable | 14,021 | — | (7,851 | ) | 14,654 | (20,824 | ) | — | The following tables present revised unaudited consolidating financial information to reflect WML and its subsidiaries as additional subsidiary guarantors of the 10.75% Senior Notes resulting from the Fifth Supplemental Indenture. | |||||||||||||||||||||||||||||||||||||||||
Total liabilities | 510,571 | 72,093 | 538,003 | 42,963 | (29,066 | ) | 1,134,564 | CONSOLIDATING BALANCE SHEETS | ||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Shareholders’ deficit | (In thousands) | |||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock | 160 | — | — | — | — | 160 | ||||||||||||||||||||||||||||||||||||||||||||
Common stock | 36,479 | 5 | 110 | 132 | (247 | ) | 36,479 | |||||||||||||||||||||||||||||||||||||||||||
Assets | Parent/ | Co-Issuer | Guarantor | Non- | Consolidating | Total | ||||||||||||||||||||||||||||||||||||||||||||
Other paid-in capital | 134,861 | 52,835 | 157,984 | (124 | ) | (210,695 | ) | 134,861 | Issuer | Subsidiaries | Guarantor | Adjustments | ||||||||||||||||||||||||||||||||||||||
Subsidiaries | ||||||||||||||||||||||||||||||||||||||||||||||||||
Accumulated other comprehensive loss | (63,595 | ) | (164 | ) | 6,425 | (3,086 | ) | (3,175 | ) | (63,595 | ) | Current assets: | ||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 25,326 | $ | 3,341 | $ | 27,451 | $ | 4,992 | $ | — | $ | 61,110 | ||||||||||||||||||||||||||||||||||||||
Accumulated earnings (deficit) | (295,784 | ) | 55,915 | (3,120 | ) | (41,337 | ) | (11,458 | ) | (295,784 | ) | |||||||||||||||||||||||||||||||||||||||
Receivables: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total equity (deficit) | (187,879 | ) | 108,591 | 161,399 | (44,415 | ) | (225,575 | ) | (187,879 | ) | Trade | — | 12,934 | 46,985 | 6,277 | — | 66,196 | |||||||||||||||||||||||||||||||||
Total liabilities and shareholders’ deficit | $ | 322,692 | $ | 180,684 | $ | 699,402 | $ | (1,452 | ) | $ | (254,641 | ) | $ | 946,685 | Contractual third-party reclamation receivables | — | — | 8,487 | — | — | 8,487 | |||||||||||||||||||||||||||||
CONSOLIDATING STATEMENTS OF OPERATIONS | Intercompany receivable/payable | (16,273 | ) | — | 2,761 | (19,353 | ) | 32,865 | — | |||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, 2014 | ||||||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | Other | 1,616 | 210 | 3,256 | 28 | (24 | ) | 5,086 | ||||||||||||||||||||||||||||||||||||||||||
(14,657 | ) | 13,144 | 61,489 | (13,048 | ) | 32,841 | 79,769 | |||||||||||||||||||||||||||||||||||||||||||
Parent/ | Co-Issuer | Guarantor | Non- | Consolidating | Total | Inventories | — | 6,161 | 33,811 | — | — | 39,972 | ||||||||||||||||||||||||||||||||||||||
Issuer | Subsidiaries | Guarantor | Adjustments | |||||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries | Deferred income taxes | — | — | 870 | — | (870 | ) | — | ||||||||||||||||||||||||||||||||||||||||||
Revenues | $ | — | $ | 22,012 | $ | 158,197 | $ | (7 | ) | $ | — | $ | 180,202 | |||||||||||||||||||||||||||||||||||||
Restricted investments and bond collateral | — | 5,998 | — | — | — | 5,998 | ||||||||||||||||||||||||||||||||||||||||||||
Costs and expenses: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Cost of sales | (224 | ) | 16,454 | 122,345 | 55 | — | 138,630 | Other current assets | 6,144 | 143 | 11,069 | 834 | — | 18,190 | ||||||||||||||||||||||||||||||||||||
Depreciation, depletion and amortization | 77 | 2,524 | 13,458 | — | — | 16,059 | Total current assets | 16,813 | 28,787 | 134,690 | (7,222 | ) | 31,971 | 205,039 | ||||||||||||||||||||||||||||||||||||
Selling and administrative | 4,965 | 894 | 7,862 | (390 | ) | — | 13,331 | Property, plant and equipment: | ||||||||||||||||||||||||||||||||||||||||||
Land and mineral rights | — | 1,395 | 276,793 | — | — | 278,188 | ||||||||||||||||||||||||||||||||||||||||||||
Heritage health benefit expenses | 3,326 | — | — | 218 | — | 3,544 | ||||||||||||||||||||||||||||||||||||||||||||
Plant and equipment | 3,973 | 220,872 | 432,851 | — | — | 657,696 | ||||||||||||||||||||||||||||||||||||||||||||
Loss (gain) on sales of assets | — | — | 38 | — | — | 38 | ||||||||||||||||||||||||||||||||||||||||||||
3,973 | 222,267 | 709,644 | — | — | 935,884 | |||||||||||||||||||||||||||||||||||||||||||||
Restructuring charges | — | 397 | — | — | — | 397 | ||||||||||||||||||||||||||||||||||||||||||||
Less accumulated depreciation, depletion and amortization | 2,707 | 71,653 | 371,488 | — | — | 445,848 | ||||||||||||||||||||||||||||||||||||||||||||
Other operating income | — | — | 150 | — | — | 150 | ||||||||||||||||||||||||||||||||||||||||||||
Net property, plant and equipment | 1,266 | 150,614 | 338,156 | — | — | 490,036 | ||||||||||||||||||||||||||||||||||||||||||||
8,144 | 20,269 | 143,853 | (117 | ) | — | 172,149 | ||||||||||||||||||||||||||||||||||||||||||||
Advanced coal royalties | — | — | 7,311 | — | — | 7,311 | ||||||||||||||||||||||||||||||||||||||||||||
Operating income (loss) | (8,144 | ) | 1,743 | 14,344 | 110 | — | 8,053 | |||||||||||||||||||||||||||||||||||||||||||
Reclamation deposits | — | — | 74,921 | — | — | 74,921 | ||||||||||||||||||||||||||||||||||||||||||||
Other income (expense): | ||||||||||||||||||||||||||||||||||||||||||||||||||
Interest expense | (18,673 | ) | (44 | ) | (2,088 | ) | — | 7 | (20,798 | ) | Restricted investments and bond collateral | 15,134 | — | 54,101 | — | — | 69,235 | |||||||||||||||||||||||||||||||||
Interest income | 123 | 4 | 175 | 7 | (7 | ) | 302 | Contractual third-party reclamation receivables | — | — | 88,303 | — | — | 88,303 | ||||||||||||||||||||||||||||||||||||
Loss on foreign exchange | (6,790 | ) | — | — | — | — | (6,790 | ) | Intangible assets | — | 1,283 | 237 | — | — | 1,520 | |||||||||||||||||||||||||||||||||||
Other income | 1 | — | 93 | (1 | ) | — | 93 | Investment in subsidiaries | 280,843 | — | — | 3,770 | (284,613 | ) | — | |||||||||||||||||||||||||||||||||||
(25,339 | ) | (40 | ) | (1,820 | ) | 6 | — | (27,193 | ) | Other assets | 8,636 | — | 1,683 | 2,000 | (1,999 | ) | 10,320 | |||||||||||||||||||||||||||||||||
Income (loss) before income taxes and income of consolidated subsidiaries | (33,483 | ) | 1,703 | 12,524 | 116 | — | (19,140 | ) | Total assets | $ | 322,692 | $ | 180,684 | $ | 699,402 | $ | (1,452 | ) | $ | (254,641 | ) | $ | 946,685 | |||||||||||||||||||||||||||
Equity in income of subsidiaries | 14,315 | — | — | — | (14,315 | ) | — | CONSOLIDATING BALANCE SHEETS | ||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Income (loss) before income taxes | (19,168 | ) | 1,703 | 12,524 | 116 | (14,315 | ) | (19,140 | ) | (In thousands) | ||||||||||||||||||||||||||||||||||||||||
Income tax expense (benefit) | (138 | ) | — | 5,115 | — | (5,087 | ) | (110 | ) | |||||||||||||||||||||||||||||||||||||||||
Net income (loss) | (19,030 | ) | 1,703 | 7,409 | 116 | (9,228 | ) | (19,030 | ) | Liabilities and Shareholders’ Deficit | Parent/ | Co-Issuer | Guarantor | Non- | Consolidating | Total | ||||||||||||||||||||||||||||||||||
Issuer | Subsidiaries | Guarantor | Adjustments | |||||||||||||||||||||||||||||||||||||||||||||||
Less net loss attributable to noncontrolling interest | — | — | — | — | — | — | Subsidiaries | |||||||||||||||||||||||||||||||||||||||||||
Current liabilities | ||||||||||||||||||||||||||||||||||||||||||||||||||
Net income (loss) attributable to the Parent company | $ | (19,030 | ) | $ | 1,703 | $ | 7,409 | $ | 116 | $ | (9,228 | ) | $ | (19,030 | ) | Current installments of long-term debt | $ | 20,392 | $ | — | $ | 23,951 | $ | — | $ | — | $ | 44,343 | ||||||||||||||||||||||
CONSOLIDATING STATEMENTS OF OPERATIONS | Accounts payable and accrued expenses: | |||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, 2013 | Trade | 6,840 | 10,119 | 38,061 | 2,487 | — | 57,507 | |||||||||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Production taxes | — | 3 | 36,522 | 5,380 | — | 41,905 | ||||||||||||||||||||||||||||||||||||||||||||
Workers’ compensation | 717 | — | — | — | — | 717 | ||||||||||||||||||||||||||||||||||||||||||||
Parent/ | Co-Issuer | Guarantor | Non- | Consolidating | Total | |||||||||||||||||||||||||||||||||||||||||||||
Issuer | Subsidiaries | Guarantor | Adjustments | Postretirement medical benefits | 12,042 | — | 774 | 1,139 | — | 13,955 | ||||||||||||||||||||||||||||||||||||||||
Subsidiaries | ||||||||||||||||||||||||||||||||||||||||||||||||||
Revenues | $ | — | $ | 19,336 | $ | 139,738 | $ | 11,350 | $ | (8,976 | ) | $ | 161,448 | SERP | 390 | — | — | — | — | 390 | ||||||||||||||||||||||||||||||
Costs and expenses: | Deferred revenue | — | 9,024 | 5,044 | — | — | 14,068 | |||||||||||||||||||||||||||||||||||||||||||
Cost of sales | (398 | ) | 16,954 | 109,777 | 13,064 | (8,976 | ) | 130,421 | ||||||||||||||||||||||||||||||||||||||||||
Asset retirement obligations | — | — | 23,353 | — | — | 23,353 | ||||||||||||||||||||||||||||||||||||||||||||
Depreciation, depletion and amortization | 94 | 2,531 | 11,801 | — | — | 14,426 | ||||||||||||||||||||||||||||||||||||||||||||
Other current liabilities | 11,302 | 5,053 | 457 | — | (22 | ) | 16,790 | |||||||||||||||||||||||||||||||||||||||||||
Selling and administrative | 3,949 | 855 | 7,448 | (365 | ) | — | 11,887 | |||||||||||||||||||||||||||||||||||||||||||
Total current liabilities | 51,683 | 24,199 | 128,162 | 9,006 | (22 | ) | 213,028 | |||||||||||||||||||||||||||||||||||||||||||
Heritage health benefit expenses | 3,689 | — | — | 262 | — | 3,951 | ||||||||||||||||||||||||||||||||||||||||||||
Long-term debt, less current installments | 224,582 | — | 72,912 | — | (2,000 | ) | 295,494 | |||||||||||||||||||||||||||||||||||||||||||
Gain on sales of assets | — | — | (234 | ) | — | — | (234 | ) | ||||||||||||||||||||||||||||||||||||||||||
Workers’ compensation, less current portion | 6,744 | — | — | — | — | 6,744 | ||||||||||||||||||||||||||||||||||||||||||||
Other operating income | — | — | (4,737 | ) | — | — | (4,737 | ) | ||||||||||||||||||||||||||||||||||||||||||
Excess of black lung benefit obligation over trust assets | 8,675 | — | — | — | — | 8,675 | ||||||||||||||||||||||||||||||||||||||||||||
7,334 | 20,340 | 124,055 | 12,961 | (8,976 | ) | 155,714 | ||||||||||||||||||||||||||||||||||||||||||||
Postretirement medical benefits, less current portion | 185,858 | — | 66,439 | 18,077 | — | 270,374 | ||||||||||||||||||||||||||||||||||||||||||||
Operating income (loss) | (7,334 | ) | (1,004 | ) | 15,683 | (1,611 | ) | — | 5,734 | |||||||||||||||||||||||||||||||||||||||||
Pension and SERP obligations, less current portion | 13,069 | 99 | 10,765 | 243 | — | 24,176 | ||||||||||||||||||||||||||||||||||||||||||||
Other income (expense): | ||||||||||||||||||||||||||||||||||||||||||||||||||
Interest expense | (7,584 | ) | (10 | ) | (2,569 | ) | (5 | ) | 8 | (10,160 | ) | Deferred revenue, less current portion | — | 41,297 | 5,270 | — | — | 46,567 | ||||||||||||||||||||||||||||||||
Interest income | 30 | 10 | 261 | 4 | (8 | ) | 297 | Asset retirement obligations, less current portion | — | 892 | 255,619 | — | — | 256,511 | ||||||||||||||||||||||||||||||||||||
Other income (loss) | — | — | 70 | — | — | 70 | Intangible liabilities | — | 5,606 | — | — | — | 5,606 | |||||||||||||||||||||||||||||||||||||
(7,554 | ) | — | (2,238 | ) | (1 | ) | — | (9,793 | ) | Other liabilities | 5,939 | — | 6,687 | 983 | (6,220 | ) | 7,389 | |||||||||||||||||||||||||||||||||
Income (loss) before income taxes and income of consolidated subsidiaries | (14,888 | ) | (1,004 | ) | 13,445 | (1,612 | ) | — | (4,059 | ) | Intercompany receivable/payable | 14,021 | — | (7,851 | ) | 14,654 | (20,824 | ) | — | |||||||||||||||||||||||||||||||
Equity in income of subsidiaries | 10,801 | — | — | — | (10,801 | ) | — | Total liabilities | 510,571 | 72,093 | 538,003 | 42,963 | (29,066 | ) | 1,134,564 | |||||||||||||||||||||||||||||||||||
Income (loss) before income taxes | (4,087 | ) | (1,004 | ) | 13,445 | (1,612 | ) | (10,801 | ) | (4,059 | ) | Shareholders’ deficit | ||||||||||||||||||||||||||||||||||||||
Preferred stock | 160 | — | — | — | — | 160 | ||||||||||||||||||||||||||||||||||||||||||||
Income tax expense (benefit) | — | — | 3,319 | — | (3,291 | ) | 28 | |||||||||||||||||||||||||||||||||||||||||||
Common stock | 36,479 | 5 | 110 | 132 | (247 | ) | 36,479 | |||||||||||||||||||||||||||||||||||||||||||
Net income (loss) | (4,087 | ) | (1,004 | ) | 10,126 | (1,612 | ) | (7,510 | ) | (4,087 | ) | |||||||||||||||||||||||||||||||||||||||
Other paid-in capital | 134,861 | 52,835 | 157,984 | (124 | ) | (210,695 | ) | 134,861 | ||||||||||||||||||||||||||||||||||||||||||
Less net loss attributable to noncontrolling interest | (1,702 | ) | — | — | — | — | (1,702 | ) | ||||||||||||||||||||||||||||||||||||||||||
Accumulated other comprehensive income (loss) | (63,595 | ) | (164 | ) | 6,425 | (3,086 | ) | (3,175 | ) | (63,595 | ) | |||||||||||||||||||||||||||||||||||||||
Net income (loss) attributable to the Parent company | $ | (2,385 | ) | $ | (1,004 | ) | $ | 10,126 | $ | (1,612 | ) | $ | (7,510 | ) | $ | (2,385 | ) | |||||||||||||||||||||||||||||||||
Accumulated earnings (deficit) | (295,784 | ) | 55,915 | (3,120 | ) | (41,337 | ) | (11,458 | ) | (295,784 | ) | |||||||||||||||||||||||||||||||||||||||
Total Westmoreland Coal Company shareholders’ deficit | (187,879 | ) | 108,591 | 161,399 | (44,415 | ) | (225,575 | ) | (187,879 | ) | ||||||||||||||||||||||||||||||||||||||||
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, 2014 | Noncontrolling interest | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total equity (deficit) | (187,879 | ) | 108,591 | 161,399 | (44,415 | ) | (225,575 | ) | (187,879 | ) | ||||||||||||||||||||||||||||||||||||||||
Parent/ | Co-Issuer | Guarantor | Non- | Consolidating | Total | Total liabilities and shareholders’ deficit | $ | 322,692 | $ | 180,684 | $ | 699,402 | $ | (1,452 | ) | $ | (254,641 | ) | $ | 946,685 | ||||||||||||||||||||||||||||||
Issuer | Subsidiaries | Guarantor | Adjustments | |||||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries | CONSOLIDATING BALANCE SHEETS | |||||||||||||||||||||||||||||||||||||||||||||||||
Net income (loss) | $ | (19,030 | ) | $ | 1,703 | $ | 7,409 | $ | 116 | $ | (9,228 | ) | $ | (19,030 | ) | December 31, 2012 | ||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income (loss) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of accumulated actuarial gains or losses, pension | 359 | 2 | 122 | 6 | (130 | ) | 359 | |||||||||||||||||||||||||||||||||||||||||||
Amortization of accumulated actuarial gains or losses, transition obligations, and prior service costs, postretirement medical benefit | 5 | — | (36 | ) | 5 | 31 | 5 | Assets | Parent/ | Co-Issuer | Guarantor | Non- | Consolidating | Total | ||||||||||||||||||||||||||||||||||||
Issuer | Subsidiaries | Guarantor | Adjustments | |||||||||||||||||||||||||||||||||||||||||||||||
Tax effect of other comprehensive income gains | (138 | ) | — | — | — | — | (138 | ) | Subsidiaries | |||||||||||||||||||||||||||||||||||||||||
Current assets: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income (loss) | 226 | 2 | 86 | 11 | (99 | ) | 226 | Cash and cash equivalents | $ | 14,836 | $ | 4,545 | $ | 10,236 | $ | 1,993 | $ | — | $ | 31,610 | ||||||||||||||||||||||||||||||
Comprehensive income (loss) attributable to the Parent company | $ | (18,804 | ) | $ | 1,705 | $ | 7,495 | $ | 127 | $ | (9,327 | ) | $ | (18,804 | ) | Receivables: | ||||||||||||||||||||||||||||||||||
Trade | — | 13,018 | 43,420 | 3,599 | — | 60,037 | ||||||||||||||||||||||||||||||||||||||||||||
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) | Contractual third-party reclamation receivables | — | — | 10,207 | — | — | 10,207 | |||||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | Intercompany receivable/payable | (17,309 | ) | — | 2,595 | (18,262 | ) | 32,976 | — | |||||||||||||||||||||||||||||||||||||||||
Other | 680 | — | 17,377 | 8 | (14,845 | ) | 3,220 | |||||||||||||||||||||||||||||||||||||||||||
Parent/ | Co-Issuer | Guarantor | Non- | Consolidating | Total | |||||||||||||||||||||||||||||||||||||||||||||
Issuer | Subsidiaries | Guarantor | Adjustments | (16,629 | ) | 13,018 | 73,599 | (14,655 | ) | 18,131 | 73,464 | |||||||||||||||||||||||||||||||||||||||
Subsidiaries | ||||||||||||||||||||||||||||||||||||||||||||||||||
Net income (loss) | $ | (4,087 | ) | $ | (1,004 | ) | $ | 10,126 | $ | (1,612 | ) | $ | (7,510 | ) | $ | (4,087 | ) | Inventories | — | 3,047 | 34,687 | — | — | 37,734 | ||||||||||||||||||||||||||
Other comprehensive income (loss) | Other current assets | 743 | 298 | 15,463 | — | — | 16,504 | |||||||||||||||||||||||||||||||||||||||||||
Amortization of accumulated actuarial gains or losses, pension | 741 | 6 | 180 | 13 | (199 | ) | 741 | |||||||||||||||||||||||||||||||||||||||||||
Total current assets | (1,050 | ) | 20,908 | 133,985 | (12,662 | ) | 18,131 | 159,312 | ||||||||||||||||||||||||||||||||||||||||||
Amortization of accumulated actuarial gains or losses, transition obligations, and prior service costs, postretirement medical benefit | 1,001 | — | 144 | 69 | (213 | ) | 1,001 | |||||||||||||||||||||||||||||||||||||||||||
Property, plant and equipment: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income (loss) | 1,742 | 6 | 324 | 82 | (412 | ) | 1,742 | Land and mineral rights | — | 1,395 | 260,346 | — | — | 261,741 | ||||||||||||||||||||||||||||||||||||
Comprehensive income (loss) attributable to the Parent company | $ | (2,345 | ) | $ | (998 | ) | $ | 10,450 | $ | (1,530 | ) | $ | (7,922 | ) | $ | (2,345 | ) | Plant and equipment | 3,198 | 219,857 | 412,665 | — | — | 635,720 | ||||||||||||||||||||||||||
3,198 | 221,252 | 673,011 | — | — | 897,461 | |||||||||||||||||||||||||||||||||||||||||||||
CONSOLIDATING STATEMENTS OF CASH FLOWS | Less accumulated depreciation, depletion and amortization | 2,364 | 61,474 | 320,783 | — | — | 384,621 | |||||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, 2014 | ||||||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | Net property, plant and equipment | 834 | 159,778 | 352,228 | — | — | 512,840 | |||||||||||||||||||||||||||||||||||||||||||
Advanced coal royalties | — | — | 4,316 | — | — | 4,316 | ||||||||||||||||||||||||||||||||||||||||||||
Statements of Cash Flows | Parent/ | Co-Issuer | Guarantor | Non- | Consolidating | Total | Reclamation deposits | — | — | 72,718 | — | — | 72,718 | |||||||||||||||||||||||||||||||||||||
Issuer | Subsidiaries | Guarantor | Adjustments | |||||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries | Restricted investments and bond collateral | 15,183 | 5,990 | 66,036 | — | — | 87,209 | |||||||||||||||||||||||||||||||||||||||||||
Cash flows from operating activities: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Net income (loss) | $ | (19,030 | ) | $ | 1,703 | $ | 7,409 | $ | 116 | $ | (9,228 | ) | $ | (19,030 | ) | Contractual third-party reclamation receivables | — | — | 84,158 | — | — | 84,158 | ||||||||||||||||||||||||||||
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | Intangible assets | — | 2,923 | 280 | — | — | 3,203 | |||||||||||||||||||||||||||||||||||||||||||
Equity in income of subsidiaries | (14,315 | ) | — | — | — | 14,315 | — | |||||||||||||||||||||||||||||||||||||||||||
Investment in subsidiaries | 257,773 | — | (792 | ) | 3,770 | (260,751 | ) | — | ||||||||||||||||||||||||||||||||||||||||||
Depreciation, depletion, and amortization | 77 | 2,524 | 13,458 | — | — | 16,059 | ||||||||||||||||||||||||||||||||||||||||||||
Other assets | 10,267 | — | 2,092 | 2,000 | (2,000 | ) | 12,359 | |||||||||||||||||||||||||||||||||||||||||||
Accretion of asset retirement obligation and receivable | — | 18 | 3,461 | — | — | 3,479 | ||||||||||||||||||||||||||||||||||||||||||||
Total assets | $ | 283,007 | $ | 189,599 | $ | 715,021 | $ | (6,892 | ) | $ | (244,620 | ) | $ | 936,115 | ||||||||||||||||||||||||||||||||||||
Non-cash tax benefits | (138 | ) | — | — | — | — | (138 | ) | ||||||||||||||||||||||||||||||||||||||||||
CONSOLIDATING BALANCE SHEETS | ||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of intangible assets and liabilities, net | — | 146 | 7 | — | — | 153 | December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based compensation | 569 | 7 | 66 | 86 | — | 728 | ||||||||||||||||||||||||||||||||||||||||||||
Loss (gain) on sales of assets | — | — | 36 | 2 | — | 38 | ||||||||||||||||||||||||||||||||||||||||||||
Liabilities and Shareholders’ Deficit | Parent/ | Co-Issuer | Guarantor | Non-Guarantor | Consolidating | Total | ||||||||||||||||||||||||||||||||||||||||||||
Amortization of deferred financing costs | 149 | — | 105 | 17 | — | 271 | Issuer | Subsidiaries | Subsidiaries | Adjustments | ||||||||||||||||||||||||||||||||||||||||
Current liabilities | ||||||||||||||||||||||||||||||||||||||||||||||||||
Loss on foreign exchange | 6,790 | — | — | — | — | 6,790 | Current installments of long-term debt | $ | (1,548 | ) | $ | — | $ | 25,339 | $ | — | $ | — | $ | 23,791 | ||||||||||||||||||||||||||||||
Changes in operating assets and liabilities: | Accounts payable and accrued expenses: | |||||||||||||||||||||||||||||||||||||||||||||||||
Receivables, net | 1,049 | 480 | (2,597 | ) | 4,736 | 1,534 | 5,202 | Trade | 5,060 | 4,978 | 40,715 | 16,181 | (14,841 | ) | 52,093 | |||||||||||||||||||||||||||||||||||
Inventories | — | 4,316 | 209 | — | — | 4,525 | Production taxes | — | 3 | 28,856 | 4,369 | — | 33,228 | |||||||||||||||||||||||||||||||||||||
Excess of black lung benefit obligation over trust assets | 701 | — | — | — | — | 701 | Workers’ compensation | 820 | — | — | — | — | 820 | |||||||||||||||||||||||||||||||||||||
Accounts payable and accrued expenses | 4,955 | (3,386 | ) | 13,923 | (4,522 | ) | (11 | ) | 10,959 | Postretirement medical benefits | 12,494 | — | 449 | 1,125 | — | 14,068 | ||||||||||||||||||||||||||||||||||
Deferred revenue | — | (2,415 | ) | 1,113 | — | — | (1,302 | ) | SERP | 390 | — | — | — | — | 390 | |||||||||||||||||||||||||||||||||||
Income tax payable | — | — | 28 | — | — | 28 | Deferred revenue | — | 8,788 | 4,034 | — | — | 12,822 | |||||||||||||||||||||||||||||||||||||
Accrual for workers’ compensation | (69 | ) | — | — | — | — | (69 | ) | Asset retirement obligations | — | — | 22,238 | — | — | 22,238 | |||||||||||||||||||||||||||||||||||
Asset retirement obligations | — | — | (1,352 | ) | — | — | (1,352 | ) | Other current liabilities | 11,311 | — | 155 | — | (4 | ) | 11,462 | ||||||||||||||||||||||||||||||||||
Accrual for postretirement medical benefits | (374 | ) | — | 1,248 | 32 | — | 906 | Total current liabilities | 28,527 | 13,769 | 121,786 | 21,675 | (14,845 | ) | 170,912 | |||||||||||||||||||||||||||||||||||
Pension and SERP obligations | 83 | 1 | (379 | ) | 2 | — | (293 | ) | Long-term debt, less current installments | 245,456 | — | 93,742 | — | (2,000 | ) | 337,198 | ||||||||||||||||||||||||||||||||||
Other assets and liabilities | (183 | ) | (309 | ) | (2,880 | ) | (1,621 | ) | 6,986 | 1,993 | Workers’ compensation, less current portion | 8,710 | — | — | — | — | 8,710 | |||||||||||||||||||||||||||||||||
Distributions received from subsidiaries | 42,500 | — | — | — | (42,500 | ) | — | Excess of black lung benefit obligation over trust assets | 8,356 | — | — | — | — | 8,356 | ||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) operating activities | 22,764 | 3,085 | 33,855 | (1,152 | ) | (28,904 | ) | 29,648 | Postretirement medical benefits, less current portion | 224,336 | — | 74,589 | 20,850 | — | 319,775 | |||||||||||||||||||||||||||||||||||
Cash flows from investing activities: | Pension and SERP obligations, less current portion | 29,265 | 289 | 23,955 | 741 | — | 54,250 | |||||||||||||||||||||||||||||||||||||||||||
Additions to property, plant and equipment | 38 | (35 | ) | (3,053 | ) | — | — | (3,050 | ) | |||||||||||||||||||||||||||||||||||||||||
Deferred revenue, less current portion | — | 50,239 | 6,652 | — | — | 56,891 | ||||||||||||||||||||||||||||||||||||||||||||
Change in restricted investments and bond collateral and reclamation deposits | (471,151 | ) | 5,998 | (391 | ) | — | — | (465,544 | ) | |||||||||||||||||||||||||||||||||||||||||
Asset retirement obligations, less current portion | — | 829 | 240,780 | — | — | 241,609 | ||||||||||||||||||||||||||||||||||||||||||||
Intangible liabilities | — | 6,625 | — | — | — | 6,625 | ||||||||||||||||||||||||||||||||||||||||||||
Receivable from customer for property and equipment purchases | — | — | (10 | ) | — | — | (10 | ) | ||||||||||||||||||||||||||||||||||||||||||
Other liabilities | 701 | — | 16,145 | 1,174 | — | 18,020 | ||||||||||||||||||||||||||||||||||||||||||||
Other | — | — | (60 | ) | — | — | (60 | ) | ||||||||||||||||||||||||||||||||||||||||||
Intercompany receivable/payable | 23,887 | — | 13,004 | 14,654 | (51,545 | ) | — | |||||||||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) investing activities | (471,113 | ) | 5,963 | (3,514 | ) | — | — | (468,664 | ) | |||||||||||||||||||||||||||||||||||||||||
Total liabilities | 569,238 | 71,751 | 590,653 | 59,094 | (68,390 | ) | 1,222,346 | |||||||||||||||||||||||||||||||||||||||||||
Cash flows from financing activities: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Change in book overdrafts | — | — | (315 | ) | — | — | (315 | ) | Shareholders’ deficit | |||||||||||||||||||||||||||||||||||||||||
Preferred stock | 160 | — | — | — | — | 160 | ||||||||||||||||||||||||||||||||||||||||||||
Borrowings from long-term debt | 454,219 | — | — | — | — | 454,219 | ||||||||||||||||||||||||||||||||||||||||||||
Common stock | 35,502 | 5 | 110 | 132 | (247 | ) | 35,502 | |||||||||||||||||||||||||||||||||||||||||||
Repayments of long-term debt | — | — | (6,232 | ) | (7 | ) | — | (6,239 | ) | |||||||||||||||||||||||||||||||||||||||||
Other paid-in capital | 130,852 | 52,806 | 155,585 | (124 | ) | (208,267 | ) | 130,852 | ||||||||||||||||||||||||||||||||||||||||||
Debt issuance costs and other refinancing costs | (7,598 | ) | — | — | — | — | (7,598 | ) | ||||||||||||||||||||||||||||||||||||||||||
Accumulated other comprehensive loss | (148,345 | ) | (372 | ) | (22,777 | ) | (6,702 | ) | 29,851 | (148,345 | ) | |||||||||||||||||||||||||||||||||||||||
Dividends/distributions | (261 | ) | (8,500 | ) | (34,000 | ) | — | 42,500 | (261 | ) | ||||||||||||||||||||||||||||||||||||||||
Accumulated earnings (deficit) | (289,727 | ) | 65,409 | (8,550 | ) | (59,292 | ) | 2,433 | (289,727 | ) | ||||||||||||||||||||||||||||||||||||||||
Transactions with Parent/affiliates | 5,422 | 154 | 10,022 | (2,002 | ) | (13,596 | ) | — | ||||||||||||||||||||||||||||||||||||||||||
Total Westmoreland Coal Company shareholders’ deficit | (271,558 | ) | 117,848 | 124,368 | (65,986 | ) | (176,230 | ) | (271,558 | ) | ||||||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) financing activities | 451,782 | (8,346 | ) | (30,525 | ) | (2,009 | ) | 28,904 | 439,806 | |||||||||||||||||||||||||||||||||||||||||
Noncontrolling interest | (14,673 | ) | — | — | — | — | (14,673 | ) | ||||||||||||||||||||||||||||||||||||||||||
Net increase (decrease) in cash and cash equivalents | 3,433 | 702 | (184 | ) | (3,161 | ) | — | 790 | ||||||||||||||||||||||||||||||||||||||||||
Total equity (deficit) | (286,231 | ) | 117,848 | 124,368 | (65,986 | ) | (176,230 | ) | (286,231 | ) | ||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents, beginning of period | 25,326 | 3,341 | 27,451 | 4,992 | — | 61,110 | ||||||||||||||||||||||||||||||||||||||||||||
Total liabilities and shareholders’ deficit | $ | 283,007 | $ | 189,599 | $ | 715,021 | $ | (6,892 | ) | $ | (244,620 | ) | $ | 936,115 | ||||||||||||||||||||||||||||||||||||
Cash and cash equivalents, end of period | $ | 28,759 | $ | 4,043 | $ | 27,267 | $ | 1,831 | $ | — | $ | 61,900 | ||||||||||||||||||||||||||||||||||||||
CONSOLIDATING STATEMENTS OF OPERATIONS | ||||||||||||||||||||||||||||||||||||||||||||||||||
CONSOLIDATING STATEMENTS OF CASH FLOWS | Year Ended December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, 2013 | (In thousands) | |||||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Parent/ | Co-Issuer | Guarantor | Non-Guarantor | Consolidating | Total | |||||||||||||||||||||||||||||||||||||||||||||
Statements of Cash Flows | Parent/ | Co-Issuer | Guarantor | Non- | Consolidating | Total | Issuer | Subsidiaries | Subsidiaries | Adjustments | ||||||||||||||||||||||||||||||||||||||||
Issuer | Subsidiaries | Guarantor | Adjustments | Revenues | $ | — | $ | 87,567 | $ | 571,021 | $ | 57,545 | $ | (41,447 | ) | $ | 674,686 | |||||||||||||||||||||||||||||||||
Subsidiaries | ||||||||||||||||||||||||||||||||||||||||||||||||||
Cash flows from operating activities: | Costs and expenses: | |||||||||||||||||||||||||||||||||||||||||||||||||
Net income (loss) | $ | (4,087 | ) | $ | (1,004 | ) | $ | 10,126 | $ | (1,612 | ) | $ | (7,510 | ) | $ | (4,087 | ) | Cost of sales | (1,525 | ) | 63,794 | 453,508 | 60,990 | (41,447 | ) | 535,320 | ||||||||||||||||||||||||
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | Depreciation, depletion and amortization | 357 | 10,178 | 56,696 | — | — | 67,231 | |||||||||||||||||||||||||||||||||||||||||||
Equity in income of subsidiaries | (10,801 | ) | — | — | — | 10,801 | — | |||||||||||||||||||||||||||||||||||||||||||
Selling and administrative | 19,027 | 3,609 | 30,596 | (2,511 | ) | — | 50,721 | |||||||||||||||||||||||||||||||||||||||||||
Depreciation, depletion, and amortization | 94 | 2,531 | 11,801 | — | — | 14,426 | ||||||||||||||||||||||||||||||||||||||||||||
Heritage health benefit expenses | 12,361 | — | — | 1,057 | — | 13,418 | ||||||||||||||||||||||||||||||||||||||||||||
Accretion of asset retirement obligation and receivable | — | 16 | 3,164 | — | — | 3,180 | ||||||||||||||||||||||||||||||||||||||||||||
Loss (gain) on sales of assets | — | — | (74 | ) | — | — | (74 | ) | ||||||||||||||||||||||||||||||||||||||||||
Amortization of intangible assets and liabilities, net | — | 156 | 8 | — | — | 164 | ||||||||||||||||||||||||||||||||||||||||||||
Restructuring charges | — | 5,078 | — | — | — | 5,078 | ||||||||||||||||||||||||||||||||||||||||||||
Share-based compensation | 796 | 10 | 1,581 | (1 | ) | — | 2,386 | |||||||||||||||||||||||||||||||||||||||||||
Other operating income | — | — | (22,370 | ) | — | — | (22,370 | ) | ||||||||||||||||||||||||||||||||||||||||||
Gain on sales of assets | — | — | (234 | ) | — | — | (234 | ) | ||||||||||||||||||||||||||||||||||||||||||
30,220 | 82,659 | 518,356 | 59,536 | (41,447 | ) | 649,324 | ||||||||||||||||||||||||||||||||||||||||||||
Amortization of deferred financing costs | 771 | — | 163 | (1 | ) | — | 933 | |||||||||||||||||||||||||||||||||||||||||||
Operating income (loss) | (30,220 | ) | 4,908 | 52,665 | (1,991 | ) | — | 25,362 | ||||||||||||||||||||||||||||||||||||||||||
Loss on sales of investment securities | — | — | 7 | — | — | 7 | ||||||||||||||||||||||||||||||||||||||||||||
Other income (expense): | ||||||||||||||||||||||||||||||||||||||||||||||||||
Changes in operating assets and liabilities: | Interest expense | (30,417 | ) | (39 | ) | (9,495 | ) | (21 | ) | 35 | (39,937 | ) | ||||||||||||||||||||||||||||||||||||||
Receivables, net | 205 | 2,885 | (3,837 | ) | (2,141 | ) | 3,008 | 120 | ||||||||||||||||||||||||||||||||||||||||||
Loss on extinguishment of debt | (64 | ) | — | — | — | — | (64 | ) | ||||||||||||||||||||||||||||||||||||||||||
Inventories | — | (2,181 | ) | (507 | ) | 1 | — | (2,687 | ) | |||||||||||||||||||||||||||||||||||||||||
Interest income | 165 | 26 | 1,190 | 20 | (35 | ) | 1,366 | |||||||||||||||||||||||||||||||||||||||||||
Excess of black lung benefit obligation over trust assets | 83 | — | — | — | — | 83 | ||||||||||||||||||||||||||||||||||||||||||||
Other income | — | — | 364 | — | — | 364 | ||||||||||||||||||||||||||||||||||||||||||||
Accounts payable and accrued expenses | (8,388 | ) | 5,959 | 5,524 | 1,630 | (1,480 | ) | 3,245 | ||||||||||||||||||||||||||||||||||||||||||
(30,316 | ) | (13 | ) | (7,941 | ) | (1 | ) | — | (38,271 | ) | ||||||||||||||||||||||||||||||||||||||||
Deferred revenue | — | (1,927 | ) | 2,087 | — | — | 160 | |||||||||||||||||||||||||||||||||||||||||||
Income (loss) before income taxes and income of consolidated subsidiaries | (60,536 | ) | 4,895 | 44,724 | (1,992 | ) | — | (12,909 | ) | |||||||||||||||||||||||||||||||||||||||||
Income tax payable | — | — | 27 | — | — | 27 | ||||||||||||||||||||||||||||||||||||||||||||
Equity in income of subsidiaries | 47,514 | — | — | — | (47,514 | ) | — | |||||||||||||||||||||||||||||||||||||||||||
Accrual for workers’ compensation | (191 | ) | — | — | — | — | (191 | ) | ||||||||||||||||||||||||||||||||||||||||||
Loss before income taxes | (13,022 | ) | 4,895 | 44,724 | (1,992 | ) | (47,514 | ) | (12,909 | ) | ||||||||||||||||||||||||||||||||||||||||
Asset retirement obligations | — | — | (3,206 | ) | (1 | ) | — | (3,207 | ) | |||||||||||||||||||||||||||||||||||||||||
Income tax expense (benefit) | (4,895 | ) | 680 | 8,414 | — | (8,981 | ) | (4,782 | ) | |||||||||||||||||||||||||||||||||||||||||
Accrual for postretirement medical benefits | (100 | ) | — | 1,941 | 144 | — | 1,985 | |||||||||||||||||||||||||||||||||||||||||||
Net income (loss) | (8,127 | ) | 4,215 | 36,310 | (1,992 | ) | (38,533 | ) | (8,127 | ) | ||||||||||||||||||||||||||||||||||||||||
Pension and SERP obligations | 320 | 4 | 400 | 18 | — | 742 | ||||||||||||||||||||||||||||||||||||||||||||
Less net loss attributable to noncontrolling interest | (3,430 | ) | — | — | — | — | (3,430 | ) | ||||||||||||||||||||||||||||||||||||||||||
Other assets and liabilities | (187 | ) | 465 | 3,650 | 236 | — | 4,164 | |||||||||||||||||||||||||||||||||||||||||||
Net income (loss) attributable to the Parent company | $ | (4,697 | ) | $ | 4,215 | $ | 36,310 | $ | (1,992 | ) | $ | (38,533 | ) | $ | (4,697 | ) | ||||||||||||||||||||||||||||||||||
Distributions received from subsidiaries | 19,600 | — | — | — | (19,600 | ) | — | |||||||||||||||||||||||||||||||||||||||||||
CONSOLIDATING STATEMENTS OF OPERATIONS | ||||||||||||||||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) operating activities | (1,885 | ) | 6,914 | 32,695 | (1,727 | ) | (14,781 | ) | 21,216 | Year Ended December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Cash flows from investing activities: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Additions to property, plant and equipment | (183 | ) | (134 | ) | (4,988 | ) | 4 | — | (5,301 | ) | ||||||||||||||||||||||||||||||||||||||||
Change in restricted investments and bond collateral and reclamation deposits | (398 | ) | (3 | ) | (6,033 | ) | (1 | ) | — | (6,435 | ) | Parent/ | Co-Issuer | Guarantor | Non-Guarantor | Consolidating | Total | |||||||||||||||||||||||||||||||||
Issuer | Subsidiaries | Subsidiaries | Adjustments | |||||||||||||||||||||||||||||||||||||||||||||||
Net proceeds from sales of assets | — | — | 441 | — | — | 441 | Revenues | $ | — | $ | 81,285 | $ | 511,570 | $ | 39,041 | $ | (31,459 | ) | $ | 600,437 | ||||||||||||||||||||||||||||||
Proceeds from the sale of investments | — | — | 5,619 | — | — | 5,619 | Costs and expenses: | |||||||||||||||||||||||||||||||||||||||||||
Cost of sales | (587 | ) | 59,299 | 393,793 | 45,475 | (31,459 | ) | 466,521 | ||||||||||||||||||||||||||||||||||||||||||
Depreciation, depletion and amortization | 421 | 10,085 | 46,639 | — | — | 57,145 | ||||||||||||||||||||||||||||||||||||||||||||
Receivable from customer for property and equipment purchases | — | — | (49 | ) | — | — | (49 | ) | ||||||||||||||||||||||||||||||||||||||||||
Selling and administrative | 18,407 | 3,657 | 29,334 | 37 | (1,527 | ) | 49,908 | |||||||||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) investing activities | (581 | ) | (137 | ) | (5,010 | ) | 3 | — | (5,725 | ) | ||||||||||||||||||||||||||||||||||||||||
Heritage health benefit expenses | 12,406 | — | (1 | ) | 983 | — | 13,388 | |||||||||||||||||||||||||||||||||||||||||||
Cash flows from financing activities: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Change in book overdrafts | — | — | 820 | — | — | 820 | Loss on sales of assets | 13 | — | 515 | — | — | 528 | |||||||||||||||||||||||||||||||||||||
Repayments of long-term debt | — | — | (6,565 | ) | (8 | ) | — | (6,573 | ) | Other operating income | — | — | (17,452 | ) | — | 1,527 | (15,925 | ) | ||||||||||||||||||||||||||||||||
Borrowings on revolving lines of credit | — | — | 6,000 | — | — | 6,000 | 30,660 | 73,041 | 452,828 | 46,495 | (31,459 | ) | 571,565 | |||||||||||||||||||||||||||||||||||||
Repayments on revolving lines of credit | — | — | (6,000 | ) | — | — | (6,000 | ) | Operating income (loss) | (30,660 | ) | 8,244 | 58,742 | (7,454 | ) | — | 28,872 | |||||||||||||||||||||||||||||||||
Debt issuance costs and other refinancing costs | — | — | (156 | ) | — | — | (156 | ) | Other income (expense): | |||||||||||||||||||||||||||||||||||||||||
Interest expense | (31,301 | ) | (39 | ) | (11,349 | ) | (68 | ) | 80 | (42,677 | ) | |||||||||||||||||||||||||||||||||||||||
Dividends/distributions | (340 | ) | (6,500 | ) | (13,100 | ) | — | 19,600 | (340 | ) | ||||||||||||||||||||||||||||||||||||||||
Loss on extinguishment of debt | (1,986 | ) | — | — | — | — | (1,986 | ) | ||||||||||||||||||||||||||||||||||||||||||
Transactions with Parent/affiliates | (1,059 | ) | (15 | ) | 4,212 | 1,681 | (4,819 | ) | — | |||||||||||||||||||||||||||||||||||||||||
Interest income | 253 | 15 | 1,289 | 19 | (80 | ) | 1,496 | |||||||||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) financing activities | (1,399 | ) | (6,515 | ) | (14,789 | ) | 1,673 | 14,781 | (6,249 | ) | ||||||||||||||||||||||||||||||||||||||||
Other income | 190 | — | 533 | — | — | 723 | ||||||||||||||||||||||||||||||||||||||||||||
Net increase (decrease) in cash and cash equivalents | (3,865 | ) | 262 | 12,896 | (51 | ) | — | 9,242 | ||||||||||||||||||||||||||||||||||||||||||
(32,844 | ) | (24 | ) | (9,527 | ) | (49 | ) | — | (42,444 | ) | ||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents, beginning of period | 14,836 | 4,545 | 10,236 | 1,993 | — | 31,610 | ||||||||||||||||||||||||||||||||||||||||||||
Income (loss) before income taxes and income of consolidated subsidiaries | (63,504 | ) | 8,220 | 49,215 | (7,503 | ) | — | (13,572 | ) | |||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents, end of period | $ | 10,971 | $ | 4,807 | $ | 23,132 | $ | 1,942 | $ | — | $ | 40,852 | ||||||||||||||||||||||||||||||||||||||
Equity in income of subsidiaries | 49,834 | — | — | — | (49,834 | ) | — | |||||||||||||||||||||||||||||||||||||||||||
Income (loss) before income taxes | (13,670 | ) | 8,220 | 49,215 | (7,503 | ) | (49,834 | ) | (13,572 | ) | ||||||||||||||||||||||||||||||||||||||||
Income tax expense (benefit) | (8 | ) | 107 | 4,410 | — | (4,419 | ) | 90 | ||||||||||||||||||||||||||||||||||||||||||
Net income (loss) | (13,662 | ) | 8,113 | 44,805 | (7,503 | ) | (45,415 | ) | (13,662 | ) | ||||||||||||||||||||||||||||||||||||||||
Less net loss attributable to noncontrolling interest | (6,436 | ) | — | — | — | — | (6,436 | ) | ||||||||||||||||||||||||||||||||||||||||||
Net income (loss) attributable to the Parent company | $ | (7,226 | ) | $ | 8,113 | $ | 44,805 | $ | (7,503 | ) | $ | (45,415 | ) | $ | (7,226 | ) | ||||||||||||||||||||||||||||||||||
CONSOLIDATING STATEMENTS OF OPERATIONS | ||||||||||||||||||||||||||||||||||||||||||||||||||
Year Ended December 31, 2011 | ||||||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Parent/ | Co-Issuer | Guarantor | Non-Guarantor | Consolidating | Total | |||||||||||||||||||||||||||||||||||||||||||||
Issuer | Subsidiaries | Subsidiaries | Adjustments | |||||||||||||||||||||||||||||||||||||||||||||||
Revenues | $ | — | $ | 86,785 | $ | 390,621 | $ | 79,831 | $ | (55,524 | ) | $ | 501,713 | |||||||||||||||||||||||||||||||||||||
Costs and expenses: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Cost of sales | (158 | ) | 60,243 | 304,652 | 83,574 | (55,524 | ) | 392,787 | ||||||||||||||||||||||||||||||||||||||||||
Depreciation, depletion and amortization | 306 | 10,175 | 35,113 | — | — | 45,594 | ||||||||||||||||||||||||||||||||||||||||||||
Selling and administrative | 13,394 | 4,059 | 23,850 | (554 | ) | (473 | ) | 40,276 | ||||||||||||||||||||||||||||||||||||||||||
Heritage health benefit expenses | 17,754 | — | — | 821 | — | 18,575 | ||||||||||||||||||||||||||||||||||||||||||||
Gain (loss) on sales of assets | 3 | 189 | 448 | — | — | 640 | ||||||||||||||||||||||||||||||||||||||||||||
Other operating income | — | — | (7,258 | ) | — | 473 | (6,785 | ) | ||||||||||||||||||||||||||||||||||||||||||
31,299 | 74,666 | 356,805 | 83,841 | (55,524 | ) | 491,087 | ||||||||||||||||||||||||||||||||||||||||||||
Operating income (loss) | (31,299 | ) | 12,119 | 33,816 | (4,010 | ) | — | 10,626 | ||||||||||||||||||||||||||||||||||||||||||
Other income (expense): | ||||||||||||||||||||||||||||||||||||||||||||||||||
Interest expense | (16,365 | ) | (469 | ) | (12,957 | ) | (70 | ) | 92 | (29,769 | ) | |||||||||||||||||||||||||||||||||||||||
Loss on extinguishment of debt | (7,873 | ) | (9,073 | ) | (84 | ) | — | — | (17,030 | ) | ||||||||||||||||||||||||||||||||||||||||
Interest income | 266 | 14 | 1,229 | 27 | (92 | ) | 1,444 | |||||||||||||||||||||||||||||||||||||||||||
Other income (loss) | (3,014 | ) | — | 418 | 24 | — | (2,572 | ) | ||||||||||||||||||||||||||||||||||||||||||
(26,986 | ) | (9,528 | ) | (11,394 | ) | (19 | ) | — | (47,927 | ) | ||||||||||||||||||||||||||||||||||||||||
Loss before income taxes and income of consolidated subsidiaries | (58,285 | ) | 2,591 | 22,422 | (4,029 | ) | — | (37,301 | ) | |||||||||||||||||||||||||||||||||||||||||
Equity in income of subsidiaries | 21,128 | — | — | — | (21,128 | ) | — | |||||||||||||||||||||||||||||||||||||||||||
Loss before income taxes | (37,157 | ) | 2,591 | 22,422 | (4,029 | ) | (21,128 | ) | (37,301 | ) | ||||||||||||||||||||||||||||||||||||||||
Income tax expense (benefit) | (282 | ) | (2,498 | ) | 7,236 | — | (4,882 | ) | (426 | ) | ||||||||||||||||||||||||||||||||||||||||
Net income (loss) | (36,875 | ) | 5,089 | 15,186 | (4,029 | ) | (16,246 | ) | (36,875 | ) | ||||||||||||||||||||||||||||||||||||||||
Less net loss attributable to noncontrolling interest | (3,775 | ) | — | — | — | — | (3,775 | ) | ||||||||||||||||||||||||||||||||||||||||||
Net loss attributable to the Parent company | $ | (33,100 | ) | $ | 5,089 | $ | 15,186 | $ | (4,029 | ) | $ | (16,246 | ) | $ | (33,100 | ) | ||||||||||||||||||||||||||||||||||
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Parent/Issuer | Co-Issuer | Guarantor | Non-Guarantor | Consolidating | Total | |||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries | Subsidiaries | Adjustments | ||||||||||||||||||||||||||||||||||||||||||||||||
Net income (loss) | $ | (8,127 | ) | $ | 4,215 | $ | 36,310 | $ | (1,992 | ) | $ | (38,533 | ) | $ | (8,127 | ) | ||||||||||||||||||||||||||||||||||
Other comprehensive income (loss) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of accumulated actuarial gains or losses, pension | 3,490 | 28 | 801 | 61 | (890 | ) | 3,490 | |||||||||||||||||||||||||||||||||||||||||||
Adjustments to accumulated actuarial losses and transition obligations, pension | 28,974 | 180 | 13,331 | 475 | (13,986 | ) | 28,974 | |||||||||||||||||||||||||||||||||||||||||||
Amortization of accumulated actuarial gains or losses, transition obligations, and prior service costs, postretirement medical benefit | 4,005 | — | 577 | 275 | (852 | ) | 4,005 | |||||||||||||||||||||||||||||||||||||||||||
Adjustments to accumulated actuarial gains and transition obligations, postretirement medical benefits | 53,230 | 180 | 14,548 | 2,804 | (17,532 | ) | 53,230 | |||||||||||||||||||||||||||||||||||||||||||
Tax effect of other comprehensive income gains | (4,892 | ) | — | — | — | — | (4,892 | ) | ||||||||||||||||||||||||||||||||||||||||||
Unrealized and realized gains and losses on available-for-sale securities | (57 | ) | — | (55 | ) | — | 55 | (57 | ) | |||||||||||||||||||||||||||||||||||||||||
Other comprehensive income | 84,750 | 388 | 29,202 | 3,615 | (33,205 | ) | 84,750 | |||||||||||||||||||||||||||||||||||||||||||
Comprehensive income attributable to Westmoreland Coal Company | $ | 76,623 | $ | 4,603 | $ | 65,512 | $ | 1,623 | $ | (71,738 | ) | $ | 76,623 | |||||||||||||||||||||||||||||||||||||
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Year Ended December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Parent/Issuer | Co-Issuer | Guarantor | Non-Guarantor | Consolidating | Total | |||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries | Subsidiaries | Adjustments | ||||||||||||||||||||||||||||||||||||||||||||||||
Net income (loss) | $ | (13,662 | ) | $ | 8,113 | $ | 44,805 | $ | (7,503 | ) | $ | (45,415 | ) | $ | (13,662 | ) | ||||||||||||||||||||||||||||||||||
Other comprehensive income (loss) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of accumulated actuarial gains or losses, pension | 2,960 | 23 | 720 | 46 | (789 | ) | 2,960 | |||||||||||||||||||||||||||||||||||||||||||
Adjustments to accumulated actuarial losses and transition obligations, pension | (9,812 | ) | (52 | ) | (5,144 | ) | (22 | ) | 5,218 | (9,812 | ) | |||||||||||||||||||||||||||||||||||||||
Amortization of accumulated actuarial gains or losses, transition obligations, and prior service costs, postretirement medical benefit | 2,572 | — | 823 | 150 | (973 | ) | 2,572 | |||||||||||||||||||||||||||||||||||||||||||
Adjustments to accumulated actuarial gains and transition obligations, postretirement medical benefits | (22,342 | ) | — | (1,367 | ) | (1,467 | ) | 2,834 | (22,342 | ) | ||||||||||||||||||||||||||||||||||||||||
Unrealized and realized gains and losses on available-for-sale securities | (268 | ) | — | (64 | ) | — | 64 | (268 | ) | |||||||||||||||||||||||||||||||||||||||||
Other comprehensive income (loss) | (26,890 | ) | (29 | ) | (5,032 | ) | (1,293 | ) | 6,354 | (26,890 | ) | |||||||||||||||||||||||||||||||||||||||
Comprehensive income (loss) attributable to Westmoreland Coal Company | $ | (40,552 | ) | $ | 8,084 | $ | 39,773 | $ | (8,796 | ) | $ | (39,061 | ) | $ | (40,552 | ) | ||||||||||||||||||||||||||||||||||
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Year Ended December 31, 2011 | ||||||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Parent/Issuer | Co-Issuer | Guarantor | Non-Guarantor | Consolidating | Total | |||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries | Subsidiaries | Adjustments | ||||||||||||||||||||||||||||||||||||||||||||||||
Net income (loss) | $ | (36,875 | ) | $ | 5,089 | $ | 15,186 | $ | (4,029 | ) | $ | (16,246 | ) | $ | (36,875 | ) | ||||||||||||||||||||||||||||||||||
Other comprehensive income (loss) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of accumulated actuarial gains or losses, pension | 1,647 | 9 | 86 | 36 | (131 | ) | 1,647 | |||||||||||||||||||||||||||||||||||||||||||
Adjustments to accumulated actuarial losses and transition obligations, pension | (15,798 | ) | (150 | ) | 72 | (516 | ) | 594 | (15,798 | ) | ||||||||||||||||||||||||||||||||||||||||
Amortization of accumulated actuarial gains or losses, transition obligations, and prior service costs, postretirement medical benefit | (288 | ) | — | 348 | (54 | ) | (294 | ) | (288 | ) | ||||||||||||||||||||||||||||||||||||||||
Adjustments to accumulated actuarial gains and transition obligations, postretirement medical benefits | (49,136 | ) | — | (5,934 | ) | (3,335 | ) | 9,269 | (49,136 | ) | ||||||||||||||||||||||||||||||||||||||||
Unrealized and realized gains and losses on available-for-sale securities | (200 | ) | — | (203 | ) | — | 203 | (200 | ) | |||||||||||||||||||||||||||||||||||||||||
Other comprehensive income (loss) | (63,775 | ) | (141 | ) | (5,631 | ) | (3,869 | ) | 9,641 | (63,775 | ) | |||||||||||||||||||||||||||||||||||||||
Comprehensive income (loss) attributable to Westmoreland Coal Company | $ | (100,650 | ) | $ | 4,948 | $ | 9,555 | $ | (7,898 | ) | $ | (6,605 | ) | $ | (100,650 | ) | ||||||||||||||||||||||||||||||||||
CONSOLIDATING STATEMENTS OF CASH FLOWS | ||||||||||||||||||||||||||||||||||||||||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Statements of Cash Flows | Parent/ | Co-Issuer | Guarantor | Non-Guarantor | Consolidating | Total | ||||||||||||||||||||||||||||||||||||||||||||
Issuer | Subsidiaries | Subsidiaries | Adjustments | |||||||||||||||||||||||||||||||||||||||||||||||
Cash flows from operating activities: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Net income (loss) | $ | (8,127 | ) | $ | 4,215 | $ | 36,310 | $ | (1,992 | ) | $ | (38,533 | ) | $ | (8,127 | ) | ||||||||||||||||||||||||||||||||||
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Equity in income of subsidiaries | (47,514 | ) | — | — | — | 47,514 | — | |||||||||||||||||||||||||||||||||||||||||||
Depreciation, depletion, and amortization | 357 | 10,178 | 56,696 | — | — | 67,231 | ||||||||||||||||||||||||||||||||||||||||||||
Accretion of asset retirement obligation and receivable | — | 63 | 12,618 | — | — | 12,681 | ||||||||||||||||||||||||||||||||||||||||||||
Non-cash tax benefits | (4,892 | ) | — | — | — | — | (4,892 | ) | ||||||||||||||||||||||||||||||||||||||||||
Amortization of intangible assets and liabilities, net | — | 622 | 43 | — | — | 665 | ||||||||||||||||||||||||||||||||||||||||||||
Share-based compensation | 2,887 | 37 | 2,398 | — | — | 5,322 | ||||||||||||||||||||||||||||||||||||||||||||
Loss on sale of assets | — | — | (74 | ) | — | — | (74 | ) | ||||||||||||||||||||||||||||||||||||||||||
Amortization of deferred financing costs | 3,165 | — | 566 | — | — | 3,731 | ||||||||||||||||||||||||||||||||||||||||||||
Other | — | — | (1,001 | ) | — | — | (1,001 | ) | ||||||||||||||||||||||||||||||||||||||||||
Loss on extinguishment of debt | 64 | — | — | — | — | 64 | ||||||||||||||||||||||||||||||||||||||||||||
Gain on sales of investments | — | — | (3 | ) | — | — | (3 | ) | ||||||||||||||||||||||||||||||||||||||||||
Changes in operating assets and liabilities: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Receivables, net | (936 | ) | (126 | ) | 10,945 | (4,225 | ) | (13,294 | ) | (7,636 | ) | |||||||||||||||||||||||||||||||||||||||
Inventories | — | (3,114 | ) | 602 | — | — | (2,512 | ) | ||||||||||||||||||||||||||||||||||||||||||
Excess of black lung benefit obligation over trust assets | 319 | — | — | — | — | 319 | ||||||||||||||||||||||||||||||||||||||||||||
Accounts payable and accrued expenses | 1,753 | 5,141 | 4,545 | (12,683 | ) | 14,823 | 13,579 | |||||||||||||||||||||||||||||||||||||||||||
Deferred revenue | — | (8,706 | ) | (372 | ) | — | — | (9,078 | ) | |||||||||||||||||||||||||||||||||||||||||
Income tax payable | — | — | (1 | ) | — | — | (1 | ) | ||||||||||||||||||||||||||||||||||||||||||
Accrual for workers’ compensation | (2,069 | ) | — | — | — | — | (2,069 | ) | ||||||||||||||||||||||||||||||||||||||||||
Asset retirement obligations | — | — | (9,410 | ) | — | — | (9,410 | ) | ||||||||||||||||||||||||||||||||||||||||||
Accrual for postretirement medical benefits | 101 | — | 7,300 | 320 | — | 7,721 | ||||||||||||||||||||||||||||||||||||||||||||
Pension and SERP obligations | 1,391 | 18 | 941 | 38 | — | 2,388 | ||||||||||||||||||||||||||||||||||||||||||||
Other assets and liabilities | (170 | ) | 4,983 | 13,383 | (1,025 | ) | (5,352 | ) | 11,819 | |||||||||||||||||||||||||||||||||||||||||
Distributions received from subsidiaries | 78,000 | — | — | — | (78,000 | ) | — | |||||||||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) operating activities | 24,329 | 13,311 | 135,486 | (19,567 | ) | (72,842 | ) | 80,717 | ||||||||||||||||||||||||||||||||||||||||||
Cash flows from investing activities: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Additions to property, plant and equipment | (771 | ) | (790 | ) | (27,030 | ) | — | — | (28,591 | ) | ||||||||||||||||||||||||||||||||||||||||
Change in restricted investments and bond collateral and reclamation deposits | 49 | (8 | ) | 1,393 | — | — | 1,434 | |||||||||||||||||||||||||||||||||||||||||||
Net proceeds from sales of assets | — | — | 902 | — | — | 902 | ||||||||||||||||||||||||||||||||||||||||||||
Proceeds from the sale of restricted investments | — | — | 8,287 | — | — | 8,287 | ||||||||||||||||||||||||||||||||||||||||||||
Receivable from customer for property and equipment purchases | — | — | (389 | ) | — | — | (389 | ) | ||||||||||||||||||||||||||||||||||||||||||
Other | — | — | (3,540 | ) | — | — | (3,540 | ) | ||||||||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) investing activities | (722 | ) | (798 | ) | (20,377 | ) | — | — | (21,897 | ) | ||||||||||||||||||||||||||||||||||||||||
Cash flows from financing activities: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Change in book overdrafts | — | — | 310 | — | — | 310 | ||||||||||||||||||||||||||||||||||||||||||||
Repayments of long-term debt | (500 | ) | — | (27,588 | ) | — | — | (28,088 | ) | |||||||||||||||||||||||||||||||||||||||||
Borrowings on revolving lines of credit | — | — | 7,000 | — | — | 7,000 | ||||||||||||||||||||||||||||||||||||||||||||
Repayments on revolving lines of credit | — | — | (7,000 | ) | — | — | (7,000 | ) | ||||||||||||||||||||||||||||||||||||||||||
Debt issuance costs and other refinancing costs | (26 | ) | — | (156 | ) | — | — | (182 | ) | |||||||||||||||||||||||||||||||||||||||||
Dividends/distributions | (1,360 | ) | (14,500 | ) | (63,500 | ) | — | 78,000 | (1,360 | ) | ||||||||||||||||||||||||||||||||||||||||
Transactions with Parent/affiliates | (11,231 | ) | 783 | (6,960 | ) | 22,566 | (5,158 | ) | — | |||||||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) financing activities | (13,117 | ) | (13,717 | ) | (97,894 | ) | 22,566 | 72,842 | (29,320 | ) | ||||||||||||||||||||||||||||||||||||||||
Net increase (decrease) in cash and cash equivalents | 10,490 | (1,204 | ) | 17,215 | 2,999 | — | 29,500 | |||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents, beginning of year | 14,836 | 4,545 | 10,236 | 1,993 | — | 31,610 | ||||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents, end of year | $ | 25,326 | $ | 3,341 | $ | 27,451 | $ | 4,992 | $ | — | $ | 61,110 | ||||||||||||||||||||||||||||||||||||||
CONSOLIDATING STATEMENTS OF CASH FLOWS | ||||||||||||||||||||||||||||||||||||||||||||||||||
Year Ended December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Statements of Cash Flows | Parent/ | Co-Issuer | Guarantor | Non-Guarantor | Consolidating | Total | ||||||||||||||||||||||||||||||||||||||||||||
Issuer | Subsidiaries | Subsidiaries | Adjustments | |||||||||||||||||||||||||||||||||||||||||||||||
Cash flows from operating activities: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Net income (loss) | $ | (13,662 | ) | $ | 8,113 | $ | 44,805 | $ | (7,503 | ) | $ | (45,415 | ) | $ | (13,662 | ) | ||||||||||||||||||||||||||||||||||
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Equity in income of subsidiaries | (49,834 | ) | — | — | — | 49,834 | — | |||||||||||||||||||||||||||||||||||||||||||
Depreciation, depletion, and amortization | 421 | 10,085 | 46,639 | — | — | 57,145 | ||||||||||||||||||||||||||||||||||||||||||||
Accretion of asset retirement obligation and receivable | — | 59 | 12,130 | — | — | 12,189 | ||||||||||||||||||||||||||||||||||||||||||||
Amortization of intangible assets and liabilities, net | — | 622 | 36 | — | — | 658 | ||||||||||||||||||||||||||||||||||||||||||||
Share-based compensation | 3,054 | 44 | 2,942 | — | — | 6,040 | ||||||||||||||||||||||||||||||||||||||||||||
Loss (gain) on sale of assets | 13 | — | 515 | — | — | 528 | ||||||||||||||||||||||||||||||||||||||||||||
Amortization of deferred financing costs | 2,889 | — | 1,469 | — | — | 4,358 | ||||||||||||||||||||||||||||||||||||||||||||
Loss on extinguishment of debt | 1,986 | — | — | — | — | 1,986 | ||||||||||||||||||||||||||||||||||||||||||||
Gain on sales of investments | (190 | ) | — | 25 | — | — | (165 | ) | ||||||||||||||||||||||||||||||||||||||||||
Changes in operating assets and liabilities: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Receivables, net | (280 | ) | (151 | ) | (22,246 | ) | 1,865 | 7,957 | (12,855 | ) | ||||||||||||||||||||||||||||||||||||||||
Inventories | — | 709 | (2,873 | ) | — | — | (2,164 | ) | ||||||||||||||||||||||||||||||||||||||||||
Excess of black lung benefit obligation over trust assets | 1,791 | — | — | — | — | 1,791 | ||||||||||||||||||||||||||||||||||||||||||||
Accounts payable and accrued expenses | 4,792 | (3,208 | ) | 18,551 | 5,488 | (8,224 | ) | 17,399 | ||||||||||||||||||||||||||||||||||||||||||
Deferred revenue | — | (8,312 | ) | 114 | — | — | (8,198 | ) | ||||||||||||||||||||||||||||||||||||||||||
Accrual for workers’ compensation | (2,096 | ) | — | — | — | — | (2,096 | ) | ||||||||||||||||||||||||||||||||||||||||||
Asset retirement obligations | — | — | (6,943 | ) | — | — | (6,943 | ) | ||||||||||||||||||||||||||||||||||||||||||
Accrual for postretirement medical benefits | (524 | ) | — | 6,828 | (113 | ) | — | 6,191 | ||||||||||||||||||||||||||||||||||||||||||
Pension and SERP obligations | 1,286 | 15 | 1,602 | (101 | ) | — | 2,802 | |||||||||||||||||||||||||||||||||||||||||||
Other assets and liabilities | (247 | ) | (536 | ) | (7,185 | ) | (1,892 | ) | 2,000 | (7,860 | ) | |||||||||||||||||||||||||||||||||||||||
Distributions received from subsidiaries | 31,971 | — | — | — | (31,971 | ) | — | |||||||||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) operating activities | (18,630 | ) | 7,440 | 96,409 | (2,256 | ) | (25,819 | ) | 57,144 | |||||||||||||||||||||||||||||||||||||||||
Cash flows from investing activities: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Additions to property, plant and equipment | (159 | ) | (2,067 | ) | (18,806 | ) | — | — | (21,032 | ) | ||||||||||||||||||||||||||||||||||||||||
Change in restricted investments and bond collateral and reclamation deposits | (3,248 | ) | (7 | ) | (30,637 | ) | — | — | (33,892 | ) | ||||||||||||||||||||||||||||||||||||||||
Cash payments related to acquisitions and other | 4,000 | — | (76,522 | ) | — | — | (72,522 | ) | ||||||||||||||||||||||||||||||||||||||||||
Net proceeds from sales of assets | — | — | 480 | — | — | 480 | ||||||||||||||||||||||||||||||||||||||||||||
Proceeds from the sale of restricted investments | 1,581 | — | 2,525 | — | — | 4,106 | ||||||||||||||||||||||||||||||||||||||||||||
Receivable from customer for property and equipment purchases | — | — | (674 | ) | — | — | (674 | ) | ||||||||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) investing activities | 2,174 | (2,074 | ) | (123,634 | ) | — | — | (123,534 | ) | |||||||||||||||||||||||||||||||||||||||||
Cash flows from financing activities: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Change in book overdrafts | — | (259 | ) | 6 | — | — | (253 | ) | ||||||||||||||||||||||||||||||||||||||||||
Borrowings from long-term debt | 119,364 | — | — | — | — | 119,364 | ||||||||||||||||||||||||||||||||||||||||||||
Repayments of long-term debt | (23,000 | ) | — | (21,846 | ) | — | — | (44,846 | ) | |||||||||||||||||||||||||||||||||||||||||
Borrowings on revolving lines of credit | — | — | 16,500 | — | — | 16,500 | ||||||||||||||||||||||||||||||||||||||||||||
Repayments on revolving lines of credit | — | — | (16,500 | ) | — | — | (16,500 | ) | ||||||||||||||||||||||||||||||||||||||||||
Debt issuance costs and other refinancing costs | (5,666 | ) | — | (22 | ) | — | — | (5,688 | ) | |||||||||||||||||||||||||||||||||||||||||
Dividends/distributions | (1,360 | ) | (1,050 | ) | (30,921 | ) | — | 31,971 | (1,360 | ) | ||||||||||||||||||||||||||||||||||||||||
Transactions with Parent/affiliates | (84,186 | ) | 482 | 86,863 | 2,993 | (6,152 | ) | — | ||||||||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) financing activities | 5,152 | (827 | ) | 34,080 | 2,993 | 25,819 | 67,217 | |||||||||||||||||||||||||||||||||||||||||||
Net increase (decrease) in cash and cash equivalents | (11,304 | ) | 4,539 | 6,855 | 737 | — | 827 | |||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents, beginning of year | 26,140 | 6 | 3,381 | 1,256 | — | 30,783 | ||||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents, end of year | $ | 14,836 | $ | 4,545 | $ | 10,236 | $ | 1,993 | $ | — | $ | 31,610 | ||||||||||||||||||||||||||||||||||||||
CONSOLIDATING STATEMENTS OF CASH FLOWS | ||||||||||||||||||||||||||||||||||||||||||||||||||
Year Ended December 31, 2011 | ||||||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Statements of Cash Flows | Parent/ | Co-Issuer | Guarantor | Non-Guarantor | Consolidating | Total | ||||||||||||||||||||||||||||||||||||||||||||
Issuer | Subsidiaries | Subsidiaries | Adjustments | |||||||||||||||||||||||||||||||||||||||||||||||
Cash flows from operating activities: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Net loss | $ | (36,875 | ) | $ | 5,089 | $ | 15,186 | $ | (4,029 | ) | $ | (16,246 | ) | $ | (36,875 | ) | ||||||||||||||||||||||||||||||||||
Adjustments to reconcile net loss to net cash provided by operating activities: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Equity in income of subsidiaries | (21,128 | ) | — | — | — | 21,128 | — | |||||||||||||||||||||||||||||||||||||||||||
Depreciation, depletion, and amortization | 306 | 10,175 | 35,113 | — | — | 45,594 | ||||||||||||||||||||||||||||||||||||||||||||
Accretion of asset retirement obligation and receivable | — | 55 | 10,823 | — | — | 10,878 | ||||||||||||||||||||||||||||||||||||||||||||
Amortization of intangible assets and liabilities, net | — | 621 | 36 | — | — | 657 | ||||||||||||||||||||||||||||||||||||||||||||
Share-based compensation | 1,670 | 32 | 3,019 | — | — | 4,721 | ||||||||||||||||||||||||||||||||||||||||||||
Loss (gain) on sale of assets | 3 | 189 | 448 | — | — | 640 | ||||||||||||||||||||||||||||||||||||||||||||
Amortization of deferred financing costs | 1,485 | (21 | ) | 1,051 | — | — | 2,515 | |||||||||||||||||||||||||||||||||||||||||||
Loss on extinguishment of debt | 7,873 | 9,073 | 84 | — | — | 17,030 | ||||||||||||||||||||||||||||||||||||||||||||
Gain on sales of investments | — | — | (150 | ) | — | — | (150 | ) | ||||||||||||||||||||||||||||||||||||||||||
Loss on derivative instruments | 3,079 | — | — | — | — | 3,079 | ||||||||||||||||||||||||||||||||||||||||||||
Changes in operating assets and liabilities: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Receivables, net | (270 | ) | 1,479 | 1,367 | (3,334 | ) | 6,249 | 5,491 | ||||||||||||||||||||||||||||||||||||||||||
Inventories | — | (1,820 | ) | (305 | ) | — | — | (2,125 | ) | |||||||||||||||||||||||||||||||||||||||||
Excess of black lung benefit obligation over trust assets | 4,319 | — | — | — | — | 4,319 | ||||||||||||||||||||||||||||||||||||||||||||
Accounts payable and accrued expenses | 5,944 | (1,063 | ) | (940 | ) | 4,326 | (4,139 | ) | 4,128 | |||||||||||||||||||||||||||||||||||||||||
Deferred revenue | — | (8,774 | ) | (1,144 | ) | — | — | (9,918 | ) | |||||||||||||||||||||||||||||||||||||||||
Accrual for workers’ compensation | 1,248 | — | — | — | — | 1,248 | ||||||||||||||||||||||||||||||||||||||||||||
Asset retirement obligations | — | — | (6,510 | ) | — | — | (6,510 | ) | ||||||||||||||||||||||||||||||||||||||||||
Accrual for postretirement medical benefits | (2,879 | ) | — | 1,132 | 104 | — | (1,643 | ) | ||||||||||||||||||||||||||||||||||||||||||
Pension and SERP obligations | (3,741 | ) | (50 | ) | 2,520 | (7 | ) | — | (1,278 | ) | ||||||||||||||||||||||||||||||||||||||||
Other assets and liabilities | 444 | (530 | ) | 3,405 | 42 | (427 | ) | 2,934 | ||||||||||||||||||||||||||||||||||||||||||
Distributions received from subsidiaries | 23,400 | — | — | — | (23,400 | ) | — | |||||||||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) operating activities | (15,122 | ) | 14,455 | 65,135 | (2,898 | ) | (16,835 | ) | 44,735 | |||||||||||||||||||||||||||||||||||||||||
Cash flows from investing activities: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Additions to property, plant and equipment | (797 | ) | (2,119 | ) | (24,678 | ) | — | — | (27,594 | ) | ||||||||||||||||||||||||||||||||||||||||
Change in restricted investments and bond collateral and reclamation deposits | (1,713 | ) | 2,580 | (6,853 | ) | — | — | (5,986 | ) | |||||||||||||||||||||||||||||||||||||||||
Cash payments related to acquisitions and other | (4,000 | ) | — | — | — | — | (4,000 | ) | ||||||||||||||||||||||||||||||||||||||||||
Net proceeds from sales of assets | — | — | 687 | — | — | 687 | ||||||||||||||||||||||||||||||||||||||||||||
Proceeds from the sale of investments | — | — | 3,350 | — | — | 3,350 | ||||||||||||||||||||||||||||||||||||||||||||
Receivable from customer for property and equipment purchases | — | — | (96 | ) | — | — | (96 | ) | ||||||||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) investing activities | (6,510 | ) | 461 | (27,590 | ) | — | — | (33,639 | ) | |||||||||||||||||||||||||||||||||||||||||
Cash flows from financing activities: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Change in book overdrafts | (146 | ) | 259 | (837 | ) | — | — | (724 | ) | |||||||||||||||||||||||||||||||||||||||||
Borrowings from long-term debt | 142,500 | — | — | — | — | 142,500 | ||||||||||||||||||||||||||||||||||||||||||||
Repayments of long-term debt | (2,532 | ) | (46,220 | ) | (24,814 | ) | — | — | (73,566 | ) | ||||||||||||||||||||||||||||||||||||||||
Borrowings on revolving lines of credit | — | 1,500 | 85,700 | — | — | 87,200 | ||||||||||||||||||||||||||||||||||||||||||||
Repayments on revolving lines of credit | — | (1,500 | ) | (104,100 | ) | — | — | (105,600 | ) | |||||||||||||||||||||||||||||||||||||||||
Debt issuance costs | (6,042 | ) | (9,077 | ) | 100 | — | — | (15,019 | ) | |||||||||||||||||||||||||||||||||||||||||
Exercise of stock options | 422 | — | — | — | — | 422 | ||||||||||||||||||||||||||||||||||||||||||||
Dividends/distributions | (21,301 | ) | (10,700 | ) | (11,700 | ) | (1,000 | ) | 23,400 | (21,301 | ) | |||||||||||||||||||||||||||||||||||||||
Transactions with Parent/affiliates | (65,400 | ) | 49,948 | 21,135 | 882 | (6,565 | ) | — | ||||||||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) financing activities | 47,501 | (15,790 | ) | (34,516 | ) | (118 | ) | 16,835 | 13,912 | |||||||||||||||||||||||||||||||||||||||||
Net increase (decrease) in cash and cash equivalents | 25,869 | (874 | ) | 3,029 | (3,016 | ) | — | 25,008 | ||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents, beginning of year | 271 | 880 | 352 | 4,272 | — | 5,775 | ||||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents, end of year | $ | 26,140 | $ | 6 | $ | 3,381 | $ | 1,256 | $ | — | $ | 30,783 | ||||||||||||||||||||||||||||||||||||||
SUBSEQUENT_EVENT
SUBSEQUENT EVENT | 12 Months Ended |
Dec. 31, 2013 | |
Subsequent Events [Abstract] | ' |
SUBSEQUENT EVENT | ' |
SUBSEQUENT EVENT | |
On February 7, 2014, the Company closed on a private offering of $425 million in aggregate principal amount of 10.75% Senior Secured Notes due 2018 at a price of 106.875% plus accrued interest from February 1, 2014. The proceeds from the offering will be used primarily to pay the purchase price and related expenses for the Sherritt Acquisition (See Note 1 for additional details of the Sherritt Acquisition), to prepay the outstanding senior secured notes issued of WML (See Note 5 for additional details of the WML debt), and for working capital. The proceeds will be held in escrow pending the completion of the Sherritt Acquisition, which is expected to occur by the end of the first quarter of 2014. |
SUMMARY_OF_SIGNIFICANT_ACCOUNT1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 12 Months Ended | ||||||||||||||
Dec. 31, 2013 | |||||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||||
Consolidation Policy | ' | ||||||||||||||
The Consolidated Financial Statements of Westmoreland Coal Company include the accounts of the Company and its controlled subsidiaries. The Company consolidates any variable interest entity, or VIE, for which the Company is considered the primary beneficiary. The Company provides for noncontrolling interests in consolidated subsidiaries, in which the Company’s ownership is less than 100 percent. All intercompany accounts and transactions have been eliminated. | |||||||||||||||
A VIE is an entity that is unable to make significant decisions about its activities or does not have the obligation to absorb losses or the right to receive returns generated by its operations. If the entity meets one of these characteristics, then the Company must determine if it is the primary beneficiary of the VIE. The party exposed to the majority of the risks and rewards with the VIE is the primary beneficiary and must consolidate the entity. | |||||||||||||||
The Company has determined for all periods presented, it was the primary beneficiary in Absaloka Coal LLC, a VIE, in which it held less than a 50% ownership through December 31, 2013. As a result, the Company has consolidated this entity within the coal segment. The investment in Absaloka Coal LLC by its outside partner did not continue after December 31, 2013, and beginning in 2014, Absaloka Coal LLC will be 100% owned by the Company, but will cease to have operations. As a result, the Company has unwound the transaction as of December 31, 2013 and concerning our balance sheet have decreased Other liabilities by $19.1 million and decreased Noncontrolling interest by $18.1 million. As a result, as of December 31, 2013, the noncontrolling interest was eliminated. | |||||||||||||||
Use of Estimates | ' | ||||||||||||||
The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. | |||||||||||||||
Cash and Cash Equivalents | ' | ||||||||||||||
Cash and cash equivalents are stated at cost, which approximate fair value. Cash equivalents consist of highly liquid investments with original maturities of three months or less. | |||||||||||||||
Trade Receivables | ' | ||||||||||||||
Trade receivables are recorded at the invoiced amount and do not bear interest. The Company evaluates the need for an allowance for doubtful accounts based on a review of collectability. The Company has determined that no allowance is necessary for trade receivables as of December 31, 2013 and 2012. | |||||||||||||||
Inventories | ' | ||||||||||||||
Inventories, which include materials and supplies as well as raw coal, are stated at the lower of cost or market. Cost is determined using the average cost method. Coal inventory costs include labor, supplies, equipment, operating overhead and other related costs. | |||||||||||||||
Exploration and Mine Development | ' | ||||||||||||||
Exploration expenditures are charged to Cost of sales as incurred, including costs related to drilling and study costs incurred to convert or upgrade mineral resources to reserves. | |||||||||||||||
At existing surface operations, additional pits may be added to increase production capacity in order to meet customer requirements. These expansions may require significant capital to purchase additional equipment, relocate equipment, build or improve existing haul roads and create the initial pre-production box cut to remove overburden for new pits at existing operations. If these pits operate in a separate and distinct area of the mine, the costs associated with initially uncovering coal for production are capitalized and amortized over the life of the developed pit consistent with coal industry practices. Once production has begun, mining costs are then expensed as incurred. | |||||||||||||||
Where new pits are routinely developed as part of a contiguous mining sequence, the Company expenses such costs as incurred. The development of a contiguous pit typically reflects the planned progression of an existing pit, thus maintaining production levels from the same mining area utilizing the same employee group and equipment. | |||||||||||||||
Property, Plant and Equipment | ' | ||||||||||||||
Property, plant and equipment are recorded at cost and includes long-term spare parts inventory. Expenditures that extend the useful lives of existing plant and equipment or increase productivity of the assets are capitalized. Maintenance and repair costs that do not extend the useful life or increase productivity of the asset are expensed as incurred. Coal reserves are recorded at cost, or at fair value originally in the case of acquired businesses. | |||||||||||||||
Coal reserves, mineral rights and mine development costs are depleted based upon estimated recoverable proven and probable reserves. Plant and equipment are depreciated on a straight-line basis over the assets’ estimated useful lives as follows: | |||||||||||||||
Years | |||||||||||||||
Buildings and improvements | 15 to 30 | ||||||||||||||
Machinery and equipment | 3 to 36 | ||||||||||||||
Long-term spare parts inventory begins depreciation when placed in service. | |||||||||||||||
The Company assesses the carrying value of its property, plant and equipment for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability is measured by comparing estimated undiscounted cash flows expected to be generated from such assets to their net book value. If net book value exceeds estimated cash flows, the asset is written down to fair value. When an asset is retired or sold, its cost and related accumulated depreciation and depletion are removed from the accounts. The difference between the net book value of the asset and proceeds on disposition is recorded as a gain or loss. Fully depreciated plant and equipment still in use is not eliminated from the accounts. | |||||||||||||||
Reclamation Deposits and Contractual Third-Party Reclamation Receivables | ' | ||||||||||||||
Certain of the Company’s customers have either agreed to reimburse the Company for reclamation expenditures as they are incurred or have pre-funded a portion of the expected reclamation costs. Amounts received from customers and held on deposit are recorded as reclamation deposits. Amounts that are reimbursable by customers are recorded as third-party reclamation receivables when the related reclamation obligation is recorded. | |||||||||||||||
Financial Instruments | ' | ||||||||||||||
The Company evaluates all of its financial instruments to determine if such instruments are derivatives, derivatives that qualify for the normal purchase normal sale exception or instruments that contain features that qualify them as embedded derivatives. Except for derivatives that qualify for the normal purchase normal sale exception, all derivative financial instruments are recognized in the balance sheet at fair value. Changes in fair value are recognized in earnings if they are not eligible for hedge accounting or Accumulated other comprehensive income (loss) if they qualify for cash flow hedge accounting. | |||||||||||||||
Held-to-maturity financial instruments consist of non-derivative financial assets with fixed or determinable payments and a fixed term, which the Company has the ability and intent to hold until maturity, and, therefore, accounts for them as held-to-maturity securities. Held-to-maturity securities are recorded at amortized cost, adjusted for the amortization or accretion of premiums or discounts calculated on the effective interest method. Interest income is recognized when earned. | |||||||||||||||
The Company has securities classified as available-for-sale, which are recorded at fair value. The changes in fair values are recorded as unrealized gains (losses) as a component of Accumulated other comprehensive income (loss) in shareholders’ deficit. | |||||||||||||||
The Company reviews its securities routinely for other-than-temporary impairment. The primary factors used to determine if an impairment charge must be recorded because a decline in value of the security is other than temporary include (i) whether the fair value of the investment is significantly below its cost basis, (ii) the financial condition of the issuer of the security, (iii) the length of time that the cost of the security has exceeded its fair value and (iv) the Company’s intent and ability to retain the investment for a period of time sufficient to allow for any anticipated recovery in market value. Other-than-temporary impairments are recorded as a component of Other income (expense). | |||||||||||||||
Fair Value | ' | ||||||||||||||
Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at a given measurement date. Valuation techniques used must maximize the use of observable inputs and minimize the use of unobservable inputs. | |||||||||||||||
Fair value hierarchy prioritizes the inputs to valuation techniques used to measure fair value and is defined as: | |||||||||||||||
• | Level 1, defined as observable inputs such as quoted prices in active markets for identical assets. Level 1 assets include available-for-sale equity securities generally valued based on independent third-party market prices. | ||||||||||||||
• | Level 2, 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. | ||||||||||||||
• | Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. | ||||||||||||||
The Company’s non-recurring fair value measurements include asset retirement obligations and the purchase price allocations for the fair value of assets and liabilities acquired through business combinations. | |||||||||||||||
The Company determines the estimated fair value of its asset retirement obligations by calculating the present value of estimated cash flows related to reclamation liabilities using level 3 inputs. The significant inputs used to calculate such liabilities includes estimates of costs to be incurred, the Company’s credit adjusted discount rate, inflation rates and estimated dates of reclamation. The asset retirement liability is accreted to its present value each period and the associated mineral rights are depleted using the units-of-production method. | |||||||||||||||
The fair value of assets and liabilities acquired through business combinations is calculated using a discounted-cash flow approach using level 3 inputs. Cash flow estimates require forecasts and assumptions for many years into the future for a variety of factors. | |||||||||||||||
Intangible Assets and Liabilities | ' | ||||||||||||||
Identifiable intangible assets or liabilities acquired in a business combination must be recognized and reported separately from goodwill. The Company has determined that its most significant acquired identifiable intangible assets and liabilities are related to sales and purchase agreements. Intangible assets result from more favorable market prices than contracted prices in sales and purchase agreements as measured during a business combination. Intangible liabilities result from less favorable market prices than contracted prices in sales and purchase agreements as measured during a business combination. The majority of these intangible assets and liabilities are amortized on a straight-line basis over the respective period of the sales and purchase agreements, while the remainder are amortized on a unit-of-production basis. | |||||||||||||||
Amortization of intangible assets recognized in Cost of sales was $1.7 million in 2013, 2012, and 2011. Amortization of intangible liabilities recognized in Revenues was $1.0 million in 2013, 2012, and 2011. | |||||||||||||||
The estimated aggregate amortization amounts from intangibles assets and liabilities for each of the next five years as of December 31, 2013 are as follows: | |||||||||||||||
Amortization | |||||||||||||||
Expense | |||||||||||||||
(Revenue) | |||||||||||||||
(In thousands) | |||||||||||||||
2014 | $ | 17 | |||||||||||||
2015 | (791 | ) | |||||||||||||
2016 | (953 | ) | |||||||||||||
2017 | (953 | ) | |||||||||||||
2018 | (953 | ) | |||||||||||||
Compensation Related Costs | ' | ||||||||||||||
Workers’ Compensation Benefits | |||||||||||||||
The Company is self-insured for workers’ compensation claims incurred prior to 1996. The liabilities for workers’ compensation claims are actuarially determined estimates of the ultimate losses incurred based on the Company’s experience. Adjustments to the probable ultimate liabilities are made annually based on subsequent developments and experience and are included in operations at the time of the revised estimate. | |||||||||||||||
The Company insures its current employees through third-party insurance providers and state arrangements. | |||||||||||||||
Pneumoconiosis (Black Lung) Benefits | |||||||||||||||
The Company is self-insured for federal and state black lung benefits for former heritage employees and has established an independent trust to pay these benefits. The Company accounts for these benefits on the accrual basis. An independent actuary annually calculates the present value of the accumulated black lung obligation. The underfunded status in 2013 and 2012 of the Company’s obligation is included as Excess of black lung benefit obligation over trust assets in the accompanying consolidated balance sheets. Actuarial gains and losses are recognized in the period in which they arise. | |||||||||||||||
The Company insures its current represented employees through arrangements with its unions and its current non-represented employees are insured through third-party insurance providers. | |||||||||||||||
Postretirement Health Care Benefits | |||||||||||||||
The Company accrues the cost to provide the benefits over the employees’ period of active service for postretirement benefits other than pensions. These costs are determined on an actuarial basis. The Company’s consolidated balance sheet reflects the unfunded status of postretirement benefit obligations. | |||||||||||||||
Pension and SERP Plans | |||||||||||||||
The Company accrues the cost to provide the benefits over the employees’ period of active service for the non-contributory defined benefit pension and SERP plans it sponsors. These costs are determined on an actuarial basis. The Company’s consolidated balance sheet reflects the unfunded status of the defined benefit pension and SERP plans. | |||||||||||||||
Deferred Revenue | ' | ||||||||||||||
Deferred revenues represent funding received upon the negotiation of long-term contracts. The deferred revenues for coal will be recognized as deliveries of the reserved coal are made in accordance with the long-term coal contracts. Deferred power revenues are recognized on a pro rata basis, based on the payments estimated to be received over the remaining term of the power sales agreements. | |||||||||||||||
Asset Retirement Obligations | ' | ||||||||||||||
The Company’s asset retirement obligation, or ARO, liabilities primarily consist of estimated costs to reclaim surface land and support facilities at its mines and power plants in accordance with federal and state reclamation laws as established by each mining permit. | |||||||||||||||
The Company estimates its ARO liabilities for final reclamation and mine closure based upon detailed engineering calculations of the amount and timing of the future costs for a third party to perform the required work. These estimates are based on projected pit configurations at the end of mining and are escalated for inflation, and then discounted at a credit-adjusted risk-free rate. The Company records mineral rights associated with the initial recorded liability. Mineral rights are amortized based on the units of production method over the estimated recoverable, proven and probable reserves at the related mine, and the ARO liability is accreted to the projected settlement date. Changes in estimates could occur due to revisions of mine plans, changes in estimated costs, and changes in timing of the performance of reclamation activities. | |||||||||||||||
Income Taxes | ' | ||||||||||||||
Deferred income taxes are provided for temporary differences arising from differences between the financial statement amount and tax basis of assets and liabilities existing at each balance sheet date using enacted tax rates anticipated to be in effect when the related taxes are expected to be paid or recovered. A valuation allowance is established if it is more likely than not that a deferred tax asset will not be realized. In determining the need for a valuation allowance, the Company considers projected realization of tax benefits based on expected levels of future taxable income, available tax planning strategies and its overall deferred tax position. | |||||||||||||||
Accounting guidance prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. Under this guidance, a company can recognize the benefit of an income tax position only if it is more likely than not (greater than 50%) that the tax position will be sustained upon tax examination, based solely on the technical merits of the tax position. Guidance is also provided on the derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. | |||||||||||||||
The Company includes interest and penalties related to income tax matters in Income tax expense. | |||||||||||||||
The tax effect of pretax income or loss from continuing operations is generally determined by a computation that does not consider the tax effects of items that are not included in continuing operations. The exception to that incremental approach is that all items (for example, items recorded in other comprehensive income, extraordinary items, and discontinued operations) be considered in determining the amount of tax benefit that results from a loss from continuing operations and that shall be allocated to continuing operations. | |||||||||||||||
Deferred Financing Costs | ' | ||||||||||||||
The Company capitalizes costs incurred in connection with borrowings or establishment of credit facilities and issuance of debt securities. These costs are amortized as an adjustment to interest expense over the life of the borrowing or term of the credit facility using the effective interest method. These amounts are recorded in Other assets in the accompanying consolidated balance sheets. | |||||||||||||||
Revenue Recognition | ' | ||||||||||||||
Coal Revenues | |||||||||||||||
The Company recognizes coal sales revenue at the time title passes to the customer in accordance with the terms of the underlying sales agreements and after any contingent performance obligations have been satisfied. Coal sales revenue is recognized based on the pricing contained in the contracts in place at the time that title passes. | |||||||||||||||
Power Revenues | |||||||||||||||
ROVA supplies power under long-term power sales agreements. Under these agreements, ROVA invoices and collects capacity payments based on kilowatt-hours produced if the units are dispatched or for the kilowatt-hours of available capacity if the units are not fully dispatched. | |||||||||||||||
A portion of the capacity payments under the agreements is considered to be an operating lease. The Company is recognizing amounts invoiced under the power sales agreements as revenue on a pro rata basis, based on the weighted average per kilowatt hour capacity payments estimated to be received over the remaining term of the power sales agreements. Under this method of recognizing revenue, $8.7 million and $8.3 million of previously deferred revenue was recognized during 2013 and 2012, respectively. | |||||||||||||||
On December 23, 2013, the Company entered into an agreement with Dominion Virginia Power, a subsidiary of Dominion, to restructure the remaining five years of the ROVA I and ROVA II contracts. From January 2014 through March 2019, the Company will keep ROVA ready to operate and expects to run the plants during high demand energy periods. The Company will additionally buy power from a power provider at a fixed price, and will supply Dominion that power. The Company can also operate the plant and sell power on the open market if it it chooses. | |||||||||||||||
The Company incurred restructuring charges of $5.1 million for the year ended December 31, 2013 primarily related to legal and consulting fees. The restructuring plan is expected to be complete by March 31, 2014. The Company expects that the aggregate $5.1 million of expenditures will be cash expenditures paid out in the first quarter of 2014. | |||||||||||||||
The table below represents the restructuring provision activity during the year ended December 31, 2013 (in millions): | |||||||||||||||
Beginning Balance | Restructuring Charges | Restructuring Payments | Ending Balance | ||||||||||||
$ | — | $ | 5.1 | $ | — | $ | 5.1 | ||||||||
Other Operating Income (Loss) | |||||||||||||||
Other operating income in the accompanying Consolidated Results of Operations reflects income from sources other than coal or power revenues. Income from the Company’s Indian Coal Tax Credit monetization transaction is recorded as Other operating income. The Company recognizes income as business interruption losses are incurred and reimbursement is virtually assured and has recognized $16.2 million and $17.3 million of income during 2013 and 2012, respectively; which is included in Other operating income. Insurance proceeds are included in Net cash provided by operating activities. | |||||||||||||||
Share-Based Compensation | ' | ||||||||||||||
Share-based compensation expense is generally measured at the grant date and recognized as expense over the vesting period of the entire award. These costs are recorded in Cost of sales and Selling and administrative expenses in the accompanying consolidated results of operations. | |||||||||||||||
Earnings (Loss) per Share | ' | ||||||||||||||
Basic earnings (loss) per share have been computed by dividing the net income (loss) applicable to common shareholders by the weighted average number of shares of common stock outstanding during each period. Net income (loss) applicable to common shareholders includes the adjustment for net income or loss attributable to noncontrolling interest. Diluted earnings (loss) per share is computed by including the dilutive effect of common stock that would be issued assuming conversion or exercise of outstanding convertible notes, stock options, stock appreciation rights, restricted stock and warrants. No such items were included in the computation of diluted loss per share for the years ended 2013, 2012 or 2011 because the Company incurred a loss from operations in each of these periods and the effect of inclusion would have been anti-dilutive. | |||||||||||||||
The table below shows the number of shares that were excluded from the calculation of diluted loss per share because their inclusion would be anti-dilutive to the calculation: | |||||||||||||||
Years Ended December 31, | |||||||||||||||
2013 | 2012 | 2011 | |||||||||||||
(In thousands) | |||||||||||||||
Convertible notes and securities | 1,093 | 1,093 | 1,093 | ||||||||||||
Restricted stock units, stock options, and SARs | 805 | 978 | 634 | ||||||||||||
Total shares excluded from diluted shares calculation | 1,898 | 2,071 | 1,727 | ||||||||||||
Recently Adopted Accounting Pronouncements | ' | ||||||||||||||
Effective January 1, 2013, the Company adopted an accounting standards update which requires that companies present either in a single note or parenthetically on the face of the financial statements, the effect of significant amounts reclassified from each component of accumulated other comprehensive income based on its source and the income statement line items affected by the reclassification. If a component is not required to be reclassified to net income in its entirety, companies would instead cross reference to the related footnote for additional information. This accounting standards update only affects the Company's disclosures. |
SUMMARY_OF_SIGNIFICANT_ACCOUNT2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||
Mar. 31, 2014 | Dec. 31, 2013 | |||||||||||||||||||||||||||||
Accounting Policies [Abstract] | ' | ' | ||||||||||||||||||||||||||||
Estimated useful lives of plant and equipment | ' | ' | ||||||||||||||||||||||||||||
Plant and equipment are depreciated on a straight-line basis over the assets’ estimated useful lives as follows: | ||||||||||||||||||||||||||||||
Years | ||||||||||||||||||||||||||||||
Buildings and improvements | 15 to 30 | |||||||||||||||||||||||||||||
Machinery and equipment | 3 to 36 | |||||||||||||||||||||||||||||
Estimated aggregate amortization expense related to intangibles | ' | ' | ||||||||||||||||||||||||||||
The estimated aggregate amortization amounts from intangibles assets and liabilities for each of the next five years as of December 31, 2013 are as follows: | ||||||||||||||||||||||||||||||
Amortization | ||||||||||||||||||||||||||||||
Expense | ||||||||||||||||||||||||||||||
(Revenue) | ||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||
2014 | $ | 17 | ||||||||||||||||||||||||||||
2015 | (791 | ) | ||||||||||||||||||||||||||||
2016 | (953 | ) | ||||||||||||||||||||||||||||
2017 | (953 | ) | ||||||||||||||||||||||||||||
2018 | (953 | ) | ||||||||||||||||||||||||||||
Restructuring reserve | ' | ' | ||||||||||||||||||||||||||||
The table below represents the restructuring provision activity during the three months ended March 31, 2014 (in millions): | The table below represents the restructuring provision activity during the year ended December 31, 2013 (in millions): | |||||||||||||||||||||||||||||
Beginning Balance | Restructuring Charges | Restructuring Payments | Ending Balance | Beginning Balance | Restructuring Charges | Restructuring Payments | Ending Balance | |||||||||||||||||||||||
$ | 5.1 | $ | 0.4 | $ | 0.4 | $ | 5.1 | $ | — | $ | 5.1 | $ | — | $ | 5.1 | |||||||||||||||
Anti-dilutive securities excluded from the calculation of earnings (loss) per share | ' | ' | ||||||||||||||||||||||||||||
The table below shows the number of shares that were excluded from the calculation of diluted loss per share because their inclusion would be anti-dilutive to the calculation: | The table below shows the number of shares that were excluded from the calculation of diluted loss per share because their inclusion would be anti-dilutive to the calculation: | |||||||||||||||||||||||||||||
Three Months Ended March 31, | Years Ended December 31, | |||||||||||||||||||||||||||||
2014 | 2013 | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||
(In thousands) | (In thousands) | |||||||||||||||||||||||||||||
Convertible securities | 828 | 1,093 | Convertible notes and securities | 1,093 | 1,093 | 1,093 | ||||||||||||||||||||||||
Restricted stock units, stock options and SARs | 779 | 978 | Restricted stock units, stock options, and SARs | 805 | 978 | 634 | ||||||||||||||||||||||||
Total shares excluded from diluted shares calculation | 1,607 | 2,071 | Total shares excluded from diluted shares calculation | 1,898 | 2,071 | 1,727 | ||||||||||||||||||||||||
ACQUISITION_Tables
ACQUISITION (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Business Combinations [Abstract] | ' | |||||||
Summary of purchase consideration and allocation of purchase consideration | ' | |||||||
A summary of the purchase consideration and allocation of the purchase consideration follow (in millions): | ||||||||
Final as of | ||||||||
December 31, | ||||||||
2012 | ||||||||
Purchase consideration: | ||||||||
Cash paid | $ | 76.5 | ||||||
Fair value of liabilities assumed: | ||||||||
Postretirement medical cost obligations | 49.2 | |||||||
Asset retirement obligations | 19.4 | |||||||
Pension obligations | 15.6 | |||||||
Deferred revenue | 2.2 | |||||||
Accrued liabilities | 1.6 | |||||||
Total fair value of liabilities assumed | 88 | |||||||
Total purchase consideration | $ | 164.5 | ||||||
Allocation of purchase consideration: | ||||||||
Inventories | $ | 9.6 | ||||||
Land and mineral rights | 65.5 | |||||||
Plant and equipment | 89.4 | |||||||
Total | $ | 164.5 | ||||||
Summary of pro forma information | ' | |||||||
The following unaudited pro forma information has been prepared for illustrative purposes only and assumes the acquisition occurred on January 1, 2011. The unaudited pro forma results have been prepared based on estimates and assumptions, which the Company believes are reasonable, however, they are not necessarily indicative of the consolidated results of operations had the acquisition occurred on January 1, 2011, or of future results of operations. | ||||||||
Years Ended | ||||||||
31-Dec-12 | 31-Dec-11 | |||||||
(In thousands) | ||||||||
Total Revenues | ||||||||
As reported | $ | 600,437 | $ | 501,713 | ||||
Pro forma | $ | 614,550 | $ | 645,595 | ||||
Operating Income | ||||||||
As reported | $ | 28,872 | $ | 10,626 | ||||
Pro forma | $ | 31,146 | $ | 13,275 | ||||
Net income (loss) applicable to common shareholders | ||||||||
As reported | $ | (8,586 | ) | $ | (34,460 | ) | ||
Pro forma | $ | (7,524 | ) | $ | (46,260 | ) | ||
Net income (loss) per share applicable to common shareholders | ||||||||
As reported | $ | (0.61 | ) | $ | (2.61 | ) | ||
Pro forma | $ | (0.54 | ) | $ | (3.51 | ) |
INVENTORIES_Tables
INVENTORIES (Tables) | 3 Months Ended | 12 Months Ended | ||||||||||||||
Mar. 31, 2014 | Dec. 31, 2013 | |||||||||||||||
Inventory Disclosure [Abstract] | ' | ' | ||||||||||||||
Inventories | ' | ' | ||||||||||||||
Inventories consisted of the following: | Inventories consisted of the following: | |||||||||||||||
March 31, 2014 | December 31, 2013 | December 31, | ||||||||||||||
(In thousands) | 2013 | 2012 | ||||||||||||||
Coal stockpiles | $ | 1,189 | $ | 543 | (In thousands) | |||||||||||
Coal stockpiles | $ | 543 | $ | 989 | ||||||||||||
Coal fuel inventories | 1,844 | 6,161 | ||||||||||||||
Coal fuel inventories | 6,161 | 3,048 | ||||||||||||||
Materials and supplies | 33,189 | 34,233 | ||||||||||||||
Materials and supplies | 34,233 | 34,954 | ||||||||||||||
Reserve for obsolete inventory | (775 | ) | (965 | ) | ||||||||||||
Total | $ | 35,447 | $ | 39,972 | Reserve for obsolete inventory | (965 | ) | (1,257 | ) | |||||||
Total | $ | 39,972 | $ | 37,734 | ||||||||||||
RESTRICTED_INVESTMENTS_AND_BON1
RESTRICTED INVESTMENTS AND BOND COLLATERAL (Tables) | 3 Months Ended | 12 Months Ended | ||||||||||||||
Mar. 31, 2014 | Dec. 31, 2013 | |||||||||||||||
Disclosure Restricted Investments and Bond Collateral [Abstract] | ' | ' | ||||||||||||||
Components of restricted investments and bond collateral | ' | ' | ||||||||||||||
The Company’s restricted investments and bond collateral consist of the following: | The Company’s restricted investments and bond collateral consist of the following: | |||||||||||||||
March 31, 2014 | 31-Dec-13 | December 31, | ||||||||||||||
(In thousands) | 2013 | 2012 | ||||||||||||||
Coal Segment: | (In thousands) | |||||||||||||||
WML debt reserve account | $ | 13,068 | $ | 13,067 | Coal Segment: | |||||||||||
WML debt reserve account | $ | 13,067 | $ | 13,062 | ||||||||||||
Reclamation bond collateral: | ||||||||||||||||
Kemmerer Mine | 24,944 | 24,966 | Reclamation bond collateral: | |||||||||||||
Kemmerer Mine | 24,966 | 24,702 | ||||||||||||||
Absaloka Mine | 11,670 | 11,653 | ||||||||||||||
Absaloka Mine | 11,653 | 14,507 | ||||||||||||||
Rosebud Mine | 3,145 | 3,145 | ||||||||||||||
Rosebud Mine | 3,145 | 12,495 | ||||||||||||||
Beulah Mine | 1,270 | 1,270 | ||||||||||||||
Beulah Mine | 1,270 | 1,270 | ||||||||||||||
Power Segment: | ||||||||||||||||
Letter of credit account | — | 5,998 | Power Segment: | |||||||||||||
Letter of credit account | 5,998 | 5,990 | ||||||||||||||
Corporate Segment: | ||||||||||||||||
Proceeds from the New Notes held in escrow | 454,219 | — | Corporate Segment: | |||||||||||||
Postretirement medical benefit bonds | 8,467 | 8,593 | ||||||||||||||
Other requirements for Sherritt Acquisition held in escrow | 16,900 | — | ||||||||||||||
Workers’ compensation bonds | 6,667 | 6,590 | ||||||||||||||
Postretirement medical benefit bonds | 8,481 | 8,467 | ||||||||||||||
Total restricted investments and bond collateral | 75,233 | 87,209 | ||||||||||||||
Workers’ compensation bonds | 6,686 | 6,667 | ||||||||||||||
Less current portion | (5,998 | ) | — | |||||||||||||
Total restricted investments and bond collateral | 540,383 | 75,233 | ||||||||||||||
Total restricted investments and bond collateral, less current portion | $ | 69,235 | $ | 87,209 | ||||||||||||
Less current portion | (16,900 | ) | (5,998 | ) | ||||||||||||
Total restricted investments and bond collateral, less current portion | $ | 523,483 | $ | 69,235 | ||||||||||||
Carrying value and estimated fair value of restricted investments and bond collateral | ' | ' | ||||||||||||||
The Company’s carrying value and estimated fair value of its restricted investments and bond collateral at March 31, 2014 are as follows: | The Company’s carrying value and estimated fair value of its restricted investments and bond collateral at December 31, 2013 are as follows: | |||||||||||||||
Carrying Value | Fair Value | Carrying Value | Fair Value | |||||||||||||
(In thousands) | (In thousands) | |||||||||||||||
Cash and cash equivalents | $ | 503,391 | $ | 503,391 | Cash and cash equivalents | $ | 40,605 | $ | 40,605 | |||||||
Time deposits | 2,444 | 2,444 | Time deposits | 2,444 | 2,444 | |||||||||||
Held-to-maturity securities | 34,548 | 34,707 | Held-to-maturity securities | 32,184 | 32,046 | |||||||||||
$ | 540,383 | $ | 540,542 | $ | 75,233 | $ | 75,095 | |||||||||
Amortized cost, gross unrealized holding gains and losses and fair value of held-to-maturity securities | ' | ' | ||||||||||||||
The amortized cost, gross unrealized holding gains and fair value of held-to-maturity securities at March 31, 2014 is as follows (in thousands): | The amortized cost, gross unrealized holding gains and losses and fair value of held-to-maturity securities are as follows: | |||||||||||||||
Amortized cost | $ | 34,548 | December 31, | |||||||||||||
2013 | 2012 | |||||||||||||||
Gross unrealized holding gains | 440 | (In thousands) | ||||||||||||||
Amortized cost | $ | 32,184 | $ | 3,983 | ||||||||||||
Gross unrealized holding losses | (281 | ) | ||||||||||||||
Fair value | $ | 34,707 | Gross unrealized holding gains | 309 | 356 | |||||||||||
Gross unrealized holding losses | (447 | ) | — | |||||||||||||
Fair value | $ | 32,046 | $ | 4,339 | ||||||||||||
The amortized cost, gross unrealized holding gains and losses and fair value of held-to-maturity securities are as follows: | ||||||||||||||||
Years Ended December 31, | ||||||||||||||||
2013 | 2012 | |||||||||||||||
(In thousands) | ||||||||||||||||
Amortized cost | $ | 11,396 | $ | 19,832 | ||||||||||||
Gross unrealized holding gains | 764 | 1,190 | ||||||||||||||
Gross unrealized holding losses | (74 | ) | (9 | ) | ||||||||||||
Fair value | $ | 12,086 | $ | 21,013 | ||||||||||||
Maturities of held-to-maturity securities | ' | ' | ||||||||||||||
Maturities of held-to-maturity securities are as follows at March 31, 2014: | Maturities of held-to-maturity securities are as follows at December 31, 2013: | |||||||||||||||
Amortized Cost | Fair Value | Amortized Cost | Fair Value | |||||||||||||
(In thousands) | (In thousands) | |||||||||||||||
Due within one year | $ | 1,193 | $ | 1,217 | Due within one year | $ | 1,111 | $ | 1,143 | |||||||
Due in five years or less | 19,539 | 19,752 | Due in five years or less | 17,839 | 17,944 | |||||||||||
Due after five years to ten years | 6,718 | 6,717 | Due after five years to ten years | 6,769 | 6,665 | |||||||||||
Due in more than ten years | 7,098 | 7,021 | Due in more than ten years | 6,465 | 6,294 | |||||||||||
$ | 34,548 | $ | 34,707 | $ | 32,184 | $ | 32,046 | |||||||||
Maturities of held-to-maturity securities are as follows at March 31, 2014: | Maturities of held-to-maturity securities are as follows at December 31, 2013: | |||||||||||||||
Amortized Cost | Fair Value | Amortized Cost | Fair Value | |||||||||||||
(In thousands) | (In thousands) | |||||||||||||||
Within one year | $ | 479 | $ | 468 | Within one year | $ | 17 | $ | 17 | |||||||
Due in five years or less | 17,562 | 17,880 | Due in five years or less | 6,645 | 6,976 | |||||||||||
Due after five years to ten years | 4,869 | 5,023 | Due after five years to ten years | 3,002 | 3,123 | |||||||||||
Due in more than ten years | 2,778 | 3,030 | Due in more than ten years | 1,732 | 1,970 | |||||||||||
$ | 25,688 | $ | 26,401 | $ | 11,396 | $ | 12,086 | |||||||||
Cost basis, gross unrealized holding gains and fair value of available-for-sale securities | ' | ' | ||||||||||||||
The cost basis, gross unrealized holding gains and fair value of available-for-sale securities are as follows: | ||||||||||||||||
December 31, | ||||||||||||||||
2013 | 2012 | |||||||||||||||
(In thousands) | ||||||||||||||||
Cost basis | $ | — | $ | 175 | ||||||||||||
Gross unrealized holding gains | — | 16 | ||||||||||||||
Fair value | $ | — | $ | 191 | ||||||||||||
LINES_OF_CREDIT_AND_LONGTERM_D1
LINES OF CREDIT AND LONG-TERM DEBT (Tables) | 3 Months Ended | 12 Months Ended | ||||||||||||||
Mar. 31, 2014 | Dec. 31, 2013 | |||||||||||||||
Debt Instrument [Line Items] | ' | ' | ||||||||||||||
Outstanding lines of credit and long-term debt | ' | ' | ||||||||||||||
The amounts outstanding under the Company’s long-term debt consisted of the following as of the dates indicated: | The amounts outstanding under the Company’s long-term debt consisted of the following as of the dates indicated: | |||||||||||||||
Total Debt Outstanding | Total Debt Outstanding | |||||||||||||||
March 31, 2014 | December 31, 2013 | December 31, | ||||||||||||||
(In thousands) | 2013 | 2012 | ||||||||||||||
10.75% Senior Notes due 2018 | $ | 251,500 | $ | 251,500 | (In thousands) | |||||||||||
10.75% senior notes due 2018 | $ | 251,500 | $ | 252,000 | ||||||||||||
New Notes - 10.75% senior notes due 2018 | 425,000 | — | ||||||||||||||
WML term debt due 2018 | 85,500 | 103,500 | ||||||||||||||
8.02% WML term debt due 2018 | 81,000 | 85,500 | ||||||||||||||
Capital lease obligations | 10,153 | 13,926 | ||||||||||||||
Capital lease obligations | 21,465 | 10,153 | ||||||||||||||
Other | 1,209 | 1,654 | ||||||||||||||
Other | 1,093 | 1,209 | ||||||||||||||
Debt discount | (8,525 | ) | (10,091 | ) | ||||||||||||
Debt premium (discount), net | 20,173 | (8,525 | ) | Total debt outstanding | 339,837 | 360,989 | ||||||||||
Total debt outstanding | 800,231 | 339,837 | Less current portion | (44,343 | ) | (23,791 | ) | |||||||||
Total debt outstanding, less current portion | $ | 295,494 | $ | 337,198 | ||||||||||||
Less current installments | (48,586 | ) | (44,343 | ) | ||||||||||||
Total debt outstanding, less current installments | $ | 751,645 | $ | 295,494 | ||||||||||||
Aggregate contractual debt maturities of all long-term debt and lines of credit | ' | ' | ||||||||||||||
The following table presents aggregate contractual debt maturities of all long-term debt: | The following table presents aggregate contractual debt maturities of all long-term debt: | |||||||||||||||
As of March 31, 2014 | As of December 31, 2013 | |||||||||||||||
(In thousands) | (In thousands) | |||||||||||||||
2014 | $ | 19,569 | 2014 | $ | 23,949 | |||||||||||
2015 | 24,710 | 2015 | 22,662 | |||||||||||||
2016 | 24,055 | 2016 | 21,943 | |||||||||||||
2017 | 24,664 | 2017 | 22,492 | |||||||||||||
2018 | 684,556 | 2018 | 257,316 | |||||||||||||
Thereafter | 2,504 | Thereafter | — | |||||||||||||
Total | 780,058 | Total | 348,362 | |||||||||||||
Plus: debt premium (discount), net | 20,173 | Less: debt discount | (8,525 | ) | ||||||||||||
Total debt | $ | 339,837 | ||||||||||||||
Total debt | $ | 800,231 | ||||||||||||||
Term Debt [Member] | ' | ' | ||||||||||||||
Debt Instrument [Line Items] | ' | ' | ||||||||||||||
Aggregate contractual debt maturities of all long-term debt and lines of credit | ' | ' | ||||||||||||||
The term debt bears interest at 8.02% per annum, payable quarterly. The principal payments required for the term debt are as follows: | ||||||||||||||||
(In millions) | ||||||||||||||||
2014 | $ | 18 | ||||||||||||||
2015 | 20 | |||||||||||||||
2016 | 20 | |||||||||||||||
2017 | 22 | |||||||||||||||
2018 | 5.5 | |||||||||||||||
Thereafter | — | |||||||||||||||
POSTRETIREMENT_MEDICAL_BENEFIT1
POSTRETIREMENT MEDICAL BENEFITS (Tables) | 3 Months Ended | 12 Months Ended | ||||||||||||||||||
Mar. 31, 2014 | Dec. 31, 2013 | |||||||||||||||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ||||||||||||||||||
Schedule of contributions to Combined Benefit Fund | ' | ' | ||||||||||||||||||
The following payments were made to the CBF (in millions): | ||||||||||||||||||||
2013 | $ | 2.2 | ||||||||||||||||||
2012 | 2.3 | |||||||||||||||||||
2011 | 2.6 | |||||||||||||||||||
Schedule of Workers Compensation obligation | ' | ' | ||||||||||||||||||
The following table shows the changes in the Company’s workers’ compensation obligation: | ||||||||||||||||||||
December 31, | ||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||
(In thousands) | ||||||||||||||||||||
Workers’ compensation, beginning of year (including current portion) | $ | 9,530 | $ | 11,626 | ||||||||||||||||
Accretion | 166 | 204 | ||||||||||||||||||
Claims paid | (581 | ) | (475 | ) | ||||||||||||||||
Actuarial changes | (1,654 | ) | (1,825 | ) | ||||||||||||||||
Workers’ compensation, end of year | 7,461 | 9,530 | ||||||||||||||||||
Less current portion | (717 | ) | (820 | ) | ||||||||||||||||
Workers’ compensation, less current portion | $ | 6,744 | $ | 8,710 | ||||||||||||||||
Postretirement Medical Benefits [Member] | ' | ' | ||||||||||||||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ||||||||||||||||||
Schedule of benefit obligations and amounts recognized in financial statements | ' | ' | ||||||||||||||||||
The following table sets forth the actuarial present value of postretirement medical benefit obligations and amounts recognized in the Company’s financial statements: | ||||||||||||||||||||
December 31, | ||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||
(In thousands) | ||||||||||||||||||||
Change in benefit obligations: | ||||||||||||||||||||
Net benefit obligation at beginning of year | $ | 333,842 | $ | 258,641 | ||||||||||||||||
Liability acquired | — | 49,241 | ||||||||||||||||||
Service cost | 4,436 | 3,555 | ||||||||||||||||||
Interest cost | 12,139 | 12,363 | ||||||||||||||||||
Plan participant contributions | 132 | 129 | ||||||||||||||||||
Actuarial loss (gain) | (53,230 | ) | 22,342 | |||||||||||||||||
Gross benefits paid | (14,220 | ) | (13,544 | ) | ||||||||||||||||
Federal subsidy on benefits paid | 1,230 | 1,115 | ||||||||||||||||||
Net benefit obligation at end of year | 284,329 | 333,842 | ||||||||||||||||||
Change in plan assets: | ||||||||||||||||||||
Employer contributions | 14,088 | 13,415 | ||||||||||||||||||
Plan participant contributions | 132 | 129 | ||||||||||||||||||
Gross benefits paid | (14,220 | ) | (13,544 | ) | ||||||||||||||||
Fair value of plan assets at end of year | — | — | ||||||||||||||||||
Unfunded status at end of year | $ | (284,329 | ) | $ | (333,842 | ) | ||||||||||||||
Amounts recognized in the balance sheet consist of: | ||||||||||||||||||||
Current liabilities | $ | (13,955 | ) | $ | (14,068 | ) | ||||||||||||||
Noncurrent liabilities | (270,374 | ) | (319,775 | ) | ||||||||||||||||
Accumulated other comprehensive loss | 20,292 | 77,528 | ||||||||||||||||||
Net amount recognized | $ | (264,037 | ) | $ | (256,315 | ) | ||||||||||||||
Amounts recognized in accumulated other comprehensive loss consists of: | ||||||||||||||||||||
Net actuarial loss | $ | 26,012 | $ | 83,884 | ||||||||||||||||
Prior service credit | (5,720 | ) | (6,356 | ) | ||||||||||||||||
$ | 20,292 | $ | 77,528 | |||||||||||||||||
Schedule of amounts in Accumulated Other Comprehensive Income (Loss) to be recognized over next fiscal year | ' | ' | ||||||||||||||||||
The following amounts will be amortized from accumulated other comprehensive loss into net periodic benefit cost in 2014 (in millions): | ||||||||||||||||||||
Actuarial loss | $ | 0.7 | ||||||||||||||||||
Prior service credit | 0.6 | |||||||||||||||||||
Components of net periodic benefit cost | ' | ' | ||||||||||||||||||
The components of net periodic postretirement medical benefit cost are as follows: | The components of net periodic postretirement medical benefit cost are as follows: | |||||||||||||||||||
Three Months Ended March 31, | Years Ended December 31, | |||||||||||||||||||
2014 | 2013 | 2013 | 2012 | 2011 | ||||||||||||||||
(In thousands) | (In thousands) | |||||||||||||||||||
Components of net periodic benefit cost: | Components of net periodic benefit cost: | |||||||||||||||||||
Service cost | $ | 822 | $ | 1,109 | Service cost | $ | 4,436 | $ | 3,555 | $ | 493 | |||||||||
Interest cost | 3,203 | 3,035 | Interest cost | 12,139 | 12,363 | 10,510 | ||||||||||||||
Amortization of deferred items | 5 | 1,001 | Amortization of: | |||||||||||||||||
Transition obligation | — | 93 | 93 | |||||||||||||||||
Total net periodic benefit cost | $ | 4,030 | $ | 5,145 | ||||||||||||||||
Prior service credit | (636 | ) | (636 | ) | (636 | ) | ||||||||||||||
The following table shows the net periodic postretirement medical benefit costs that relate to current and former mining operations: | Actuarial loss | 4,641 | 3,116 | 255 | ||||||||||||||||
Total net periodic benefit cost | $ | 20,580 | $ | 18,491 | $ | 10,715 | ||||||||||||||
Three Months Ended March 31, | ||||||||||||||||||||
2014 | 2013 | The following table shows the net periodic postretirement medical benefit costs that relate to current and former mining operations: | ||||||||||||||||||
(In thousands) | ||||||||||||||||||||
Former mining operations | $ | 2,403 | $ | 3,119 | ||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||
Current operations | 1,627 | 2,026 | 2013 | 2012 | 2011 | |||||||||||||||
(In thousands) | ||||||||||||||||||||
Total net periodic benefit cost | $ | 4,030 | $ | 5,145 | Former mining operations | $ | 12,475 | $ | 11,314 | $ | 9,259 | |||||||||
Current operations | 8,105 | 7,177 | 1,456 | |||||||||||||||||
Total net periodic benefit cost | $ | 20,580 | $ | 18,491 | $ | 10,715 | ||||||||||||||
Schedule of weighted-average assumptions used | ' | ' | ||||||||||||||||||
The weighted-average assumptions used to determine net periodic benefit cost were as follows: | ||||||||||||||||||||
December 31, | ||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||
Discount rate | 3.60% - 4.15% | 4.10% | 5.15% | |||||||||||||||||
Measurement date | 31-Dec-12 | 31-Dec-11 | 31-Dec-10 | |||||||||||||||||
The weighted-average assumptions used to determine the benefit obligations as of the end of each year were as follows: | ||||||||||||||||||||
December 31, | ||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||
Discount rate | 4.50% - 5.05% | 3.60% - 4.15% | ||||||||||||||||||
Measurement date | December 31, 2013 | December 31, 2012 | ||||||||||||||||||
Schedule of assumed health care trend rate | ' | ' | ||||||||||||||||||
The following presents information about the assumed health care trend rate: | ||||||||||||||||||||
December 31, | ||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||
Health care cost trend rate assumed for next year | 6.75 | % | 7 | % | ||||||||||||||||
Rate to which the cost trend is assumed to decline (ultimate trend rate) | 5 | % | 5 | % | ||||||||||||||||
Year that the trend rate reaches the ultimate trend rate | 2021 | 2021 | ||||||||||||||||||
Schedule of effect of a one percent change on the health care cost trend | ' | ' | ||||||||||||||||||
The effect of a one percent change on the health care cost trend rate used to calculate periodic postretirement medical benefit costs and the related benefit obligation are summarized in the table below: | ||||||||||||||||||||
Postretirement Medical Benefits | ||||||||||||||||||||
1 % Increase | 1 % Decrease | |||||||||||||||||||
(In thousands) | ||||||||||||||||||||
Effect on service and interest cost components | $ | 3,148 | $ | (2,442 | ) | |||||||||||||||
Effect on postretirement medical benefit obligation | $ | 35,464 | $ | (30,096 | ) | |||||||||||||||
Schedule of expected benefit payments | ' | ' | ||||||||||||||||||
The following benefit payments and Medicare D subsidy (which the Company receives as a benefit partially offsetting its prescription drug costs for retirees and their dependents) are expected by the Company: | ||||||||||||||||||||
Postretirement | Medicare D | Net | ||||||||||||||||||
Medical Benefits | Subsidy | Postretirement | ||||||||||||||||||
Medical Benefits | ||||||||||||||||||||
(In thousands) | ||||||||||||||||||||
2014 | $ | 13,955 | $ | (1,249 | ) | $ | 12,706 | |||||||||||||
2015 | 14,522 | (1,293 | ) | 13,229 | ||||||||||||||||
2016 | 14,975 | (1,336 | ) | 13,639 | ||||||||||||||||
2017 | 15,408 | (1,386 | ) | 14,022 | ||||||||||||||||
2018 | 16,191 | (1,432 | ) | 14,759 | ||||||||||||||||
Years 2019 - 2023 | 85,342 | (7,807 | ) | 77,535 | ||||||||||||||||
Pneumoconiosis (Black Lung) Benefits [Member] | ' | ' | ||||||||||||||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ||||||||||||||||||
Schedule of net funded status | ' | ' | ||||||||||||||||||
The following table sets forth the funded status of the Company’s black lung obligation: | ||||||||||||||||||||
December 31, | ||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||
(In thousands) | ||||||||||||||||||||
Actuarial present value of benefit obligation: | ||||||||||||||||||||
Expected claims from terminated employees | $ | 876 | $ | 1,139 | ||||||||||||||||
Amounts owed to existing claimants | 13,267 | 15,061 | ||||||||||||||||||
Total present value of benefit obligation | 14,143 | 16,200 | ||||||||||||||||||
Plan assets at fair value, primarily government-backed securities | 5,468 | 7,844 | ||||||||||||||||||
Excess of the black lung benefit obligation over trust assets | $ | 8,675 | $ | 8,356 | ||||||||||||||||
Schedule of allocation of plan assets | ' | ' | ||||||||||||||||||
The fair value of the Company’s Black Lung trust assets by asset category is as follows: | ||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||
Quoted Prices | Significant | |||||||||||||||||||
in Active | Other | |||||||||||||||||||
Markets for | Observable | |||||||||||||||||||
Identical Assets | Inputs | |||||||||||||||||||
Fair Value | Level 1 | Level 2 | ||||||||||||||||||
(In thousands) | ||||||||||||||||||||
U.S. treasury securities | $ | 5,280 | $ | — | $ | 5,280 | ||||||||||||||
Mortgage-backed securities | 185 | — | 185 | |||||||||||||||||
Cash and cash equivalents | 3 | 3 | — | |||||||||||||||||
$ | 5,468 | $ | 3 | $ | 5,465 | |||||||||||||||
31-Dec-12 | ||||||||||||||||||||
Quoted Prices | Significant | |||||||||||||||||||
in Active | Other | |||||||||||||||||||
Markets for | Observable | |||||||||||||||||||
Identical Assets | Inputs | |||||||||||||||||||
Fair Value | Level 1 | Level 2 | ||||||||||||||||||
(In thousands) | ||||||||||||||||||||
U.S. treasury securities | $ | 7,548 | $ | — | $ | 7,548 | ||||||||||||||
Mortgage-backed securities | 269 | — | 269 | |||||||||||||||||
Cash and cash equivalents | 27 | 27 | — | |||||||||||||||||
$ | 7,844 | $ | 27 | $ | 7,817 | |||||||||||||||
PENSION_AND_OTHER_SAVING_PLANS1
PENSION AND OTHER SAVING PLANS (Tables) (Pension Benefits [Member]) | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||
Mar. 31, 2014 | Dec. 31, 2013 | |||||||||||||||||||||||||||||||
Pension Benefits [Member] | ' | ' | ||||||||||||||||||||||||||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ||||||||||||||||||||||||||||||
Schedule of benefit obligations and amounts recognized in financial statements | ' | ' | ||||||||||||||||||||||||||||||
The following table provides a reconciliation of the changes in the benefit obligations of the plans and the fair value of assets of the qualified plans and the amounts recognized in the Company’s financial statements for both the defined benefit pension and SERP plans: | ||||||||||||||||||||||||||||||||
Defined Benefit Pension | SERP | |||||||||||||||||||||||||||||||
December 31, | December 31, | |||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||
Change in benefit obligation: | ||||||||||||||||||||||||||||||||
Net benefit obligation at beginning of year | $ | 172,289 | $ | 100,582 | $ | 4,241 | $ | 4,511 | ||||||||||||||||||||||||
Liability acquired | — | 57,307 | — | — | ||||||||||||||||||||||||||||
Service cost | 2,346 | 2,139 | — | — | ||||||||||||||||||||||||||||
Interest cost | 6,209 | 6,330 | 152 | 172 | ||||||||||||||||||||||||||||
Actuarial loss (gain) | (18,972 | ) | 13,121 | (359 | ) | (48 | ) | |||||||||||||||||||||||||
Benefits and expenses paid | (6,797 | ) | (7,190 | ) | (394 | ) | (394 | ) | ||||||||||||||||||||||||
Net benefit obligation at end of year | 155,075 | 172,289 | 3,640 | 4,241 | ||||||||||||||||||||||||||||
Change in plan assets: | ||||||||||||||||||||||||||||||||
Fair value of plan assets at the beginning of year | 121,887 | 75,710 | — | — | ||||||||||||||||||||||||||||
Assets acquired | — | 41,704 | — | — | ||||||||||||||||||||||||||||
Actual return on plan assets | 18,414 | 11,502 | — | — | ||||||||||||||||||||||||||||
Employer contributions | 645 | 161 | 394 | 394 | ||||||||||||||||||||||||||||
Benefits and expenses paid | (6,797 | ) | (7,190 | ) | (394 | ) | (394 | ) | ||||||||||||||||||||||||
Fair value of plan assets at end of year | 134,149 | 121,887 | — | — | ||||||||||||||||||||||||||||
Unfunded status at end of year | $ | (20,926 | ) | $ | (50,402 | ) | $ | (3,640 | ) | $ | (4,241 | ) | ||||||||||||||||||||
Amounts recognized in the accompanying balance sheet consist of: | ||||||||||||||||||||||||||||||||
Current liability | $ | — | $ | — | $ | (390 | ) | $ | (390 | ) | ||||||||||||||||||||||
Noncurrent liability | (20,926 | ) | (50,401 | ) | (3,250 | ) | (3,850 | ) | ||||||||||||||||||||||||
Accumulated other comprehensive loss | 11,045 | 43,037 | 1,209 | 1,679 | ||||||||||||||||||||||||||||
Net amount recognized at end of year | $ | (9,881 | ) | $ | (7,364 | ) | $ | (2,431 | ) | $ | (2,561 | ) | ||||||||||||||||||||
Amounts recognized in accumulated other comprehensive loss consist of: | ||||||||||||||||||||||||||||||||
Net actuarial loss | $ | 11,045 | $ | 43,037 | $ | 1,209 | $ | 1,679 | ||||||||||||||||||||||||
$ | 11,045 | $ | 43,037 | $ | 1,209 | $ | 1,679 | |||||||||||||||||||||||||
Schedule of amounts in Accumulated Other Comprehensive Income (Loss) to be recognized over next fiscal year | ' | ' | ||||||||||||||||||||||||||||||
The following amounts will be amortized from accumulated other comprehensive loss into net periodic benefit cost in 2014 (in millions): | ||||||||||||||||||||||||||||||||
Pension | SERP | |||||||||||||||||||||||||||||||
Net actuarial loss | $ | 0.8 | $ | 0.1 | ||||||||||||||||||||||||||||
Components of net periodic benefit cost | ' | ' | ||||||||||||||||||||||||||||||
The Company incurred net periodic benefit costs of providing these pension benefits as follows: | The components of net periodic benefit cost are as follows: | |||||||||||||||||||||||||||||||
Three Months Ended March 31, | Defined Benefit Pension | SERP | ||||||||||||||||||||||||||||||
2014 | 2013 | Years Ended December 31, | Years Ended December 31, | |||||||||||||||||||||||||||||
(In thousands) | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||
Components of net periodic benefit cost: | (In thousands) | |||||||||||||||||||||||||||||||
Service cost | $ | 500 | $ | 534 | Components of net periodic benefit cost: | |||||||||||||||||||||||||||
Service cost | $ | 2,346 | $ | 2,139 | $ | 784 | $ | — | $ | — | $ | — | ||||||||||||||||||||
Interest cost | 1,747 | 1,625 | ||||||||||||||||||||||||||||||
Interest cost | 6,209 | 6,330 | 4,568 | 152 | 172 | 215 | ||||||||||||||||||||||||||
Expected return on plan assets | (2,154 | ) | (2,060 | ) | ||||||||||||||||||||||||||||
Amortization of deferred items | 359 | 741 | Expected return on plan assets | (8,770 | ) | (8,241 | ) | (5,218 | ) | — | — | — | ||||||||||||||||||||
Total net periodic pension cost | $ | 452 | $ | 840 | Amortization of: | |||||||||||||||||||||||||||
Prior service cost | — | — | — | — | — | 5 | ||||||||||||||||||||||||||
Actuarial loss | 3,377 | 2,867 | 1,578 | 112 | 95 | 64 | ||||||||||||||||||||||||||
Total net periodic pension cost | $ | 3,162 | $ | 3,095 | $ | 1,712 | $ | 264 | $ | 267 | $ | 284 | ||||||||||||||||||||
Schedule of weighted-average assumptions used | ' | ' | ||||||||||||||||||||||||||||||
The following table provides the assumptions used to determine net periodic benefit cost: | ||||||||||||||||||||||||||||||||
Defined Benefit Pension | SERP | |||||||||||||||||||||||||||||||
Years Ended December 31, | Years Ended December 31, | |||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | 2011 | |||||||||||||||||||||||||||
Discount rate | 3.35% - 3.75% | 4.05% - 4.25% | 5.15% - 5.40% | 3.75% | 4.25% | 5.40% | ||||||||||||||||||||||||||
Expected return on plan assets | 7.40% | 7.40% | 7.40% | N/A | N/A | N/A | ||||||||||||||||||||||||||
Rate of compensation increase | N/A | N/A | N/A | N/A | N/A | N/A | ||||||||||||||||||||||||||
Measurement date | 31-Dec-12 | December 31, | December 31, | 31-Dec-12 | December 31, | December 31, | ||||||||||||||||||||||||||
2011 | 2010 | 2011 | 2010 | |||||||||||||||||||||||||||||
The weighted-average assumptions used to determine the benefit obligations as of the end of each year were as follows: | ||||||||||||||||||||||||||||||||
Defined Benefit Pension | SERP | |||||||||||||||||||||||||||||||
December 31, | December 31, | |||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||
Discount rate | 4.25% - 4.65% | 3.35% - 3.75% | 4.65% | 3.75% | ||||||||||||||||||||||||||||
Measurement date | 31-Dec-13 | December 31, 2012 | 31-Dec-13 | December 31, 2012 | ||||||||||||||||||||||||||||
Schedule of allocation of plan assets | ' | ' | ||||||||||||||||||||||||||||||
The weighted-average target asset allocation of the Company’s pension trusts were as follows at December 31, 2013: | ||||||||||||||||||||||||||||||||
Target Allocation | ||||||||||||||||||||||||||||||||
Asset category | ||||||||||||||||||||||||||||||||
Cash and equivalents | 0% - 10% | |||||||||||||||||||||||||||||||
Equity securities funds | 20% - 60% | |||||||||||||||||||||||||||||||
Debt securities funds | 40% - 80% | |||||||||||||||||||||||||||||||
Other | 0% - 10% | |||||||||||||||||||||||||||||||
The fair value of the Company’s pension plan assets by asset category is as follows: | ||||||||||||||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||||||||||
Quoted | Significant | Significant | ||||||||||||||||||||||||||||||
Prices in | Other | Unobservable | ||||||||||||||||||||||||||||||
Active | Observable | Inputs | ||||||||||||||||||||||||||||||
Markets for | Inputs | |||||||||||||||||||||||||||||||
Identical | ||||||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||||||
Fair Value | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||
Pooled separate accounts: | ||||||||||||||||||||||||||||||||
Large-cap | $ | 48,983 | $ | — | $ | 48,983 | $ | — | ||||||||||||||||||||||||
International blend | 18,191 | — | 18,191 | — | ||||||||||||||||||||||||||||
Fixed income domestic | 40,944 | — | 40,944 | — | ||||||||||||||||||||||||||||
Fixed income long term | 17,797 | — | 17,797 | — | ||||||||||||||||||||||||||||
Stable Value | 5,267 | — | 5,267 | — | ||||||||||||||||||||||||||||
Registered investment companies – growth fund | — | — | — | — | ||||||||||||||||||||||||||||
Limited partnerships and limited liability companies | 250 | — | — | 250 | ||||||||||||||||||||||||||||
Westmoreland Coal common stock | 2,255 | 2,255 | — | — | ||||||||||||||||||||||||||||
Cash and cash equivalents | 462 | 462 | — | — | ||||||||||||||||||||||||||||
$ | 134,149 | $ | 2,717 | $ | 131,182 | $ | 250 | |||||||||||||||||||||||||
31-Dec-12 | ||||||||||||||||||||||||||||||||
Quoted | Significant | Significant | ||||||||||||||||||||||||||||||
Prices in | Other | Unobservable | ||||||||||||||||||||||||||||||
Active | Observable | Inputs | ||||||||||||||||||||||||||||||
Markets for | Inputs | |||||||||||||||||||||||||||||||
Identical | ||||||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||||||
Fair Value | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||
Pooled separate accounts: | ||||||||||||||||||||||||||||||||
Large-cap | $ | 50,589 | $ | — | $ | 50,589 | $ | — | ||||||||||||||||||||||||
International blend | 10,294 | — | 10,294 | — | ||||||||||||||||||||||||||||
Fixed income domestic | 42,744 | — | 42,744 | — | ||||||||||||||||||||||||||||
Stable value | 3,850 | — | 3,850 | — | ||||||||||||||||||||||||||||
Registered investment companies – growth fund | 10,295 | 10,295 | — | — | ||||||||||||||||||||||||||||
Limited partnerships and limited liability companies | 614 | — | — | 614 | ||||||||||||||||||||||||||||
Westmoreland Coal common stock | 3,500 | 3,500 | — | — | ||||||||||||||||||||||||||||
Cash and cash equivalents | 1 | 1 | — | — | ||||||||||||||||||||||||||||
$ | 121,887 | $ | 13,796 | $ | 107,477 | $ | 614 | |||||||||||||||||||||||||
Schedule of changes in fair value of plan assets | ' | ' | ||||||||||||||||||||||||||||||
A summary of changes in the fair value of the Plan’s Level 3 assets is shown below: | ||||||||||||||||||||||||||||||||
Limited partnerships and limited | ||||||||||||||||||||||||||||||||
liability companies | ||||||||||||||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||
Beginning balance | $ | 614 | $ | 1,050 | ||||||||||||||||||||||||||||
Unrealized gain | 5 | 96 | ||||||||||||||||||||||||||||||
Settlements, net | (369 | ) | (532 | ) | ||||||||||||||||||||||||||||
Ending balance | $ | 250 | $ | 614 | ||||||||||||||||||||||||||||
Schedule of expected benefit payments | ' | ' | ||||||||||||||||||||||||||||||
The following benefit payments are expected to be paid from its pension plan assets: | ||||||||||||||||||||||||||||||||
Pension Benefits | ||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||
2014 | $ | 7,324 | ||||||||||||||||||||||||||||||
2015 | 7,772 | |||||||||||||||||||||||||||||||
2016 | 8,238 | |||||||||||||||||||||||||||||||
2017 | 9,066 | |||||||||||||||||||||||||||||||
2018 | 9,321 | |||||||||||||||||||||||||||||||
Years 2019 - 2023 | 50,340 | |||||||||||||||||||||||||||||||
Schedule of multiemployer plans | ' | ' | ||||||||||||||||||||||||||||||
The following table shows required information for each employer contributing to the Central Pension Fund: | ||||||||||||||||||||||||||||||||
WECO | WRI | WSC | ||||||||||||||||||||||||||||||
Employer plan number | 9313 | 9243 | 4990 | |||||||||||||||||||||||||||||
Minimum contributions per hour worked | $ | 5.75 | $ | 5.7 | $2.95 - $3.20 | |||||||||||||||||||||||||||
Expiration date of collective bargaining agreements | 2/28/19 | 5/31/15 | 4/1/16 | |||||||||||||||||||||||||||||
Employer contributions (in millions): | ||||||||||||||||||||||||||||||||
2013 | $ | 3.4 | $ | 0.9 | $ | 0.1 | ||||||||||||||||||||||||||
2012 | 3.2 | 0.5 | 0.1 | |||||||||||||||||||||||||||||
2011 | 3.2 | 0.9 | 0.1 | |||||||||||||||||||||||||||||
HERITAGE_HEALTH_BENEFIT_EXPENS1
HERITAGE HEALTH BENEFIT EXPENSES (Tables) | 3 Months Ended | 12 Months Ended | ||||||||||||||||||
Mar. 31, 2014 | Dec. 31, 2013 | |||||||||||||||||||
Heritage Health Benefit Expenses [Abstract] | ' | ' | ||||||||||||||||||
Components of costs of benefits to former mining operation employees | ' | ' | ||||||||||||||||||
The components of these expenses are as follows: | The components of these expenses are as follows: | |||||||||||||||||||
Three Months Ended March 31, | Years Ended December 31, | |||||||||||||||||||
2014 | 2013 | 2013 | 2012 | 2011 | ||||||||||||||||
(In thousands) | (In thousands) | |||||||||||||||||||
Health care benefits | $ | 2,276 | $ | 3,176 | Health care benefits | $ | 12,579 | $ | 11,367 | $ | 9,507 | |||||||||
Combined benefit fund payments | 512 | 576 | Combined benefit fund payments | 2,240 | 2,258 | 2,617 | ||||||||||||||
Workers’ compensation benefits | 136 | 116 | Workers’ compensation benefits (credit) | (1,212 | ) | (1,322 | ) | 2,132 | ||||||||||||
Black lung benefits | 620 | 83 | Black lung benefits (credit) | (189 | ) | 1,085 | 4,319 | |||||||||||||
Total | $ | 3,544 | $ | 3,951 | Total | $ | 13,418 | $ | 13,388 | $ | 18,575 | |||||||||
ASSET_RETIREMENT_OBLIGATIONS_C1
ASSET RETIREMENT OBLIGATIONS, CONTRACTUAL THIRD-PARTY RECLAMATION RECEIVABLES, AND RECLAMATION DEPOSITS (Tables) | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||||
Mar. 31, 2014 | Dec. 31, 2013 | |||||||||||||||||||||||
Asset Retirement Obligation Disclosure [Abstract] | ' | ' | ||||||||||||||||||||||
Summary of asset retirement obligations, contractual third-party reclamation receivables and reclamation deposits | ' | ' | ||||||||||||||||||||||
The asset retirement obligation, contractual third-party reclamation receivable, and reclamation deposits for each of the Company’s mines and ROVA at March 31, 2014 are summarized below: | The asset retirement obligation, contractual third-party reclamation receivable, and reclamation deposits for each of the Company’s mines and ROVA at December 31, 2013 are summarized below: | |||||||||||||||||||||||
Asset | Contractual | Reclamation | Asset | Contractual | Reclamation | |||||||||||||||||||
Retirement | Third-Party | Deposits | Retirement | Third-Party | Deposits | |||||||||||||||||||
Obligation | Reclamation | Obligation | Reclamation | |||||||||||||||||||||
Receivable | Receivable | |||||||||||||||||||||||
(In thousands) | (In thousands) | |||||||||||||||||||||||
Rosebud | $ | 127,989 | $ | 21,656 | $ | 75,315 | Rosebud | $ | 126,965 | $ | 21,186 | $ | 74,921 | |||||||||||
Jewett | 74,247 | 74,247 | — | Jewett | 75,267 | 75,267 | — | |||||||||||||||||
Absaloka | 37,286 | 346 | — | Absaloka | 36,401 | 337 | — | |||||||||||||||||
Beulah | 17,764 | — | — | Beulah | 17,785 | — | — | |||||||||||||||||
Kemmerer | 17,569 | — | — | Kemmerer | 17,174 | — | — | |||||||||||||||||
Savage | 5,499 | — | — | Savage | 5,380 | — | — | |||||||||||||||||
ROVA | 909 | — | — | ROVA | 892 | — | — | |||||||||||||||||
Total | $ | 281,263 | $ | 96,249 | $ | 75,315 | Total | $ | 279,864 | $ | 96,790 | $ | 74,921 | |||||||||||
Changes in Company's asset retirement obligations | ' | ' | ||||||||||||||||||||||
Changes in the Company’s asset retirement obligations were as follows: | Changes in the Company’s asset retirement obligations were as follows: | |||||||||||||||||||||||
Three Months Ended March 31, | Years Ended December 31, | |||||||||||||||||||||||
2014 | 2013 | 2013 | 2012 | |||||||||||||||||||||
(In thousands) | (In thousands) | |||||||||||||||||||||||
Asset retirement obligations, beginning of year (including current portion) | $ | 279,864 | $ | 263,847 | Asset retirement obligations, beginning of year (including current portion) | $ | 263,847 | $ | 247,478 | |||||||||||||||
Accretion | 5,836 | 5,481 | Accretion | 21,905 | 21,909 | |||||||||||||||||||
Liabilities settled | (4,437 | ) | (5,839 | ) | Liabilities settled | (21,630 | ) | (17,342 | ) | |||||||||||||||
Asset retirement obligations, end of period | 281,263 | 263,489 | Changes due to amount and timing of reclamation | 15,742 | (7,575 | ) | ||||||||||||||||||
Less current portion | (22,227 | ) | (23,154 | ) | ARO acquired | — | 19,377 | |||||||||||||||||
Asset retirement obligations, less current portion | $ | 259,036 | $ | 240,335 | ||||||||||||||||||||
Asset retirement obligations, end of year | 279,864 | 263,847 | ||||||||||||||||||||||
Less current portion | (23,353 | ) | (22,238 | ) | ||||||||||||||||||||
Asset retirement obligations, less current portion | $ | 256,511 | $ | 241,609 | ||||||||||||||||||||
Carrying value and estimated fair value of reclamation deposits | ' | ' | ||||||||||||||||||||||
The Company’s carrying value and estimated fair value of its reclamation deposits at March 31, 2014 are as follows: | The Company’s carrying value and estimated fair value of its reclamation deposits at December 31, 2013 are as follows: | |||||||||||||||||||||||
Carrying Value | Fair Value | Fair Value Hierarchy | Carrying Value | Fair Value | ||||||||||||||||||||
(In thousands) | (In thousands) | |||||||||||||||||||||||
Cash and cash equivalents | $ | 49,627 | $ | 49,627 | Level 1 | Cash and cash equivalents | $ | 63,525 | $ | 63,525 | ||||||||||||||
Held-to-maturity securities | 25,688 | 26,401 | Level 2 | Held-to-maturity securities | 11,396 | 12,086 | ||||||||||||||||||
$ | 75,315 | $ | 76,028 | $ | 74,921 | $ | 75,611 | |||||||||||||||||
Amortized cost, gross unrealized holding gains and losses and fair value of held-to-maturity securities | ' | ' | ||||||||||||||||||||||
The amortized cost, gross unrealized holding gains and fair value of held-to-maturity securities at March 31, 2014 is as follows (in thousands): | The amortized cost, gross unrealized holding gains and losses and fair value of held-to-maturity securities are as follows: | |||||||||||||||||||||||
Amortized cost | $ | 34,548 | December 31, | |||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||
Gross unrealized holding gains | 440 | (In thousands) | ||||||||||||||||||||||
Amortized cost | $ | 32,184 | $ | 3,983 | ||||||||||||||||||||
Gross unrealized holding losses | (281 | ) | ||||||||||||||||||||||
Fair value | $ | 34,707 | Gross unrealized holding gains | 309 | 356 | |||||||||||||||||||
Gross unrealized holding losses | (447 | ) | — | |||||||||||||||||||||
Fair value | $ | 32,046 | $ | 4,339 | ||||||||||||||||||||
The amortized cost, gross unrealized holding gains and losses and fair value of held-to-maturity securities are as follows: | ||||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Amortized cost | $ | 11,396 | $ | 19,832 | ||||||||||||||||||||
Gross unrealized holding gains | 764 | 1,190 | ||||||||||||||||||||||
Gross unrealized holding losses | (74 | ) | (9 | ) | ||||||||||||||||||||
Fair value | $ | 12,086 | $ | 21,013 | ||||||||||||||||||||
Schedule of maturities of held-to-maturity investments | ' | ' | ||||||||||||||||||||||
Maturities of held-to-maturity securities are as follows at March 31, 2014: | Maturities of held-to-maturity securities are as follows at December 31, 2013: | |||||||||||||||||||||||
Amortized Cost | Fair Value | Amortized Cost | Fair Value | |||||||||||||||||||||
(In thousands) | (In thousands) | |||||||||||||||||||||||
Due within one year | $ | 1,193 | $ | 1,217 | Due within one year | $ | 1,111 | $ | 1,143 | |||||||||||||||
Due in five years or less | 19,539 | 19,752 | Due in five years or less | 17,839 | 17,944 | |||||||||||||||||||
Due after five years to ten years | 6,718 | 6,717 | Due after five years to ten years | 6,769 | 6,665 | |||||||||||||||||||
Due in more than ten years | 7,098 | 7,021 | Due in more than ten years | 6,465 | 6,294 | |||||||||||||||||||
$ | 34,548 | $ | 34,707 | $ | 32,184 | $ | 32,046 | |||||||||||||||||
Maturities of held-to-maturity securities are as follows at March 31, 2014: | Maturities of held-to-maturity securities are as follows at December 31, 2013: | |||||||||||||||||||||||
Amortized Cost | Fair Value | Amortized Cost | Fair Value | |||||||||||||||||||||
(In thousands) | (In thousands) | |||||||||||||||||||||||
Within one year | $ | 479 | $ | 468 | Within one year | $ | 17 | $ | 17 | |||||||||||||||
Due in five years or less | 17,562 | 17,880 | Due in five years or less | 6,645 | 6,976 | |||||||||||||||||||
Due after five years to ten years | 4,869 | 5,023 | Due after five years to ten years | 3,002 | 3,123 | |||||||||||||||||||
Due in more than ten years | 2,778 | 3,030 | Due in more than ten years | 1,732 | 1,970 | |||||||||||||||||||
$ | 25,688 | $ | 26,401 | $ | 11,396 | $ | 12,086 | |||||||||||||||||
Cost basis, gross unrealized holding gains and fair value of available-for-sale securities | ' | ' | ||||||||||||||||||||||
The cost basis, gross unrealized holding gains and fair value of available-for-sale securities are as follows: | ||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Cost basis | $ | — | $ | 1,000 | ||||||||||||||||||||
Gross unrealized holding gains | — | 39 | ||||||||||||||||||||||
Fair value | $ | — | $ | 1,039 | ||||||||||||||||||||
Held To Maturity Reclamation Deposits Table | ' | ' | ||||||||||||||||||||||
The amortized cost, gross unrealized holding gains and losses and fair value of held-to-maturity securities at March 31, 2014 are as follows (in thousands): | ||||||||||||||||||||||||
Amortized cost | $ | 25,688 | ||||||||||||||||||||||
Gross unrealized holding gains | 826 | |||||||||||||||||||||||
Gross unrealized holding losses | (113 | ) | ||||||||||||||||||||||
Fair value | $ | 26,401 | ||||||||||||||||||||||
DERIVATIVE_INSTRUMENTS_1_Table
DERIVATIVE INSTRUMENTS 1 (Tables) | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||
Mar. 31, 2014 | Dec. 31, 2013 | |||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | ' | ||||||||||||||||||||
Effect of derivatives on statements of operations | ' | ' | ||||||||||||||||||||
The effect of derivative instruments not designated as hedging instruments on the accompanying consolidated statements of operations was as follows (in thousands): | ||||||||||||||||||||||
Statement of | Income Recognized in | |||||||||||||||||||||
Operations Location | Earnings on Derivatives | |||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||
Derivative Instrument | 2013 | 2012 | 2011 | |||||||||||||||||||
Convertible debt -conversion feature | Other income (loss) | $ | — | $ | — | $ | 3,079 | |||||||||||||||
Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location | ' | ' | ||||||||||||||||||||
The fair value of outstanding derivative instruments not designated as hedging instruments on the accompanying Consolidated Balance Sheets was as follows (in thousands): | ||||||||||||||||||||||
Derivative Instruments | Balance Sheet Location | March 31, 2014 | ||||||||||||||||||||
Canadian dollar foreign exchange forward contracts | Other current assets | $ | 246 | |||||||||||||||||||
Canadian dollar foreign exchange forward contracts | Other current liabilities | (7,036 | ) | |||||||||||||||||||
The effect of derivative instruments not designated as hedging instruments on the accompanying Consolidated Statements of Operations was as follows (in thousands): | ||||||||||||||||||||||
Derivative Instruments | Statement of | Three Months Ended March 31, 2014 | ||||||||||||||||||||
Operations Location | ||||||||||||||||||||||
Canadian dollar foreign exchange forward contracts | Loss on foreign exchange | $ | (6,790 | ) |
FAIR_VALUE_MEASUREMENTS_Tables
FAIR VALUE MEASUREMENTS (Tables) | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||||
Mar. 31, 2014 | Dec. 31, 2013 | |||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ' | ||||||||||||||||||||||
Estimated fair values of Company's debt | ' | ' | ||||||||||||||||||||||
The estimated fair values of the Company’s debt with fixed interest rates are as follows: | The estimated fair value of the Company’s debt with fixed interest rates are as follows: | |||||||||||||||||||||||
Carrying Value | Fair Value | Carrying Value | Fair Value | |||||||||||||||||||||
(In thousands) | (In thousands) | |||||||||||||||||||||||
31-Dec-13 | $ | 328,473 | $ | 364,329 | 31-Dec-12 | $ | 345,408 | $ | 359,753 | |||||||||||||||
March 31, 2014 | $ | 777,670 | $ | 823,603 | 31-Dec-13 | $ | 328,473 | $ | 364,329 | |||||||||||||||
Summary of financial assets at fair value | ' | ' | ||||||||||||||||||||||
The table below sets forth, by level, the Company’s financial assets and liabilities that are accounted for at fair value on a recurring basis: | ||||||||||||||||||||||||
Year Ended December 31, 2012 | ||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||
Available-for-sale investments included in Restricted investments and bond collateral | $ | 191 | $ | — | $ | — | $ | 191 | ||||||||||||||||
Available-for-sale investments included in Reclamation deposits | 1,039 | — | — | 1,039 | ||||||||||||||||||||
Total assets | $ | 1,230 | $ | — | $ | — | $ | 1,230 | ||||||||||||||||
RESTRICTED_STOCK_UNITS_STOCK_O1
RESTRICTED STOCK UNITS, STOCK OPTIONS, AND STOCK APPRECIATION RIGHTS (SARs) (Tables) | 3 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||||||
Mar. 31, 2014 | Dec. 31, 2013 | ||||||||||||||||||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ' | |||||||||||||||||||||||||||||||||
Compensation cost arising from share-based arrangements | ' | ' | |||||||||||||||||||||||||||||||||
The Company recognized compensation expense from share-based arrangements shown in the following table: | Compensation cost arising from share-based arrangements is shown in the following table: | ||||||||||||||||||||||||||||||||||
Three Months Ended March 31, | Years Ended December 31, | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||
(In thousands) | (In thousands) | ||||||||||||||||||||||||||||||||||
Recognition of fair value of restricted stock units, stock options and SARs over vesting period; and issuance of stock | $ | 728 | $ | 1,663 | Recognition of fair value of restricted stock units, stock options and SARs over vesting period; and issuance of stock | $ | 2,967 | $ | 3,088 | $ | 1,969 | ||||||||||||||||||||||||
Contributions of stock to the Company's 401(k) plan | — | 723 | Contributions of stock to the Company’s 401(k) plan | 2,355 | 2,952 | 2,752 | |||||||||||||||||||||||||||||
Total share-based compensation expense | $ | 728 | $ | 2,386 | Total share-based compensation expense | $ | 5,322 | $ | 6,040 | $ | 4,721 | ||||||||||||||||||||||||
Summary of Restricted Stock Unit activity | ' | ' | |||||||||||||||||||||||||||||||||
A summary of restricted stock award activity for the three months ended March 31, 2014 is as follows: | A summary of restricted stock award activity for the year ended December 31, 2013 is as follows: | ||||||||||||||||||||||||||||||||||
Units | Weighted | Unamortized | Units | Weighted Average | Unamortized | ||||||||||||||||||||||||||||||
Average | Compensation | Grant-Date Fair | Compensation | ||||||||||||||||||||||||||||||||
Grant-Date | Expense | Value | Expense | ||||||||||||||||||||||||||||||||
Fair Value | (In thousands) | (In thousands) | |||||||||||||||||||||||||||||||||
Non-vested at December 31, 2013 | 588,727 | $ | 9.37 | Non-vested at December 31, 2012 | 680,185 | $ | 8.88 | ||||||||||||||||||||||||||||
Granted | — | — | Granted | 103,730 | $ | 11.7 | |||||||||||||||||||||||||||||
Vested | — | — | Vested | (195,940 | ) | $ | 8.62 | ||||||||||||||||||||||||||||
Non-vested at March 31, 2014 | 588,727 | $ | 9.37 | $ | 1,618 | (1) | Forfeited | — | $ | — | |||||||||||||||||||||||||
____________________ | Non-vested at December 31, 2013 | 587,975 | $ | 9.46 | $ | 2,346 | (1) | ||||||||||||||||||||||||||||
-1 | Expected to be recognized over the next three years. | ____________________ | |||||||||||||||||||||||||||||||||
-1 | Expected to be recognized over the next three years. | ||||||||||||||||||||||||||||||||||
Additional information related to restricted stock units: | |||||||||||||||||||||||||||||||||||
Years Ended December 31: | Weighted | Total | |||||||||||||||||||||||||||||||||
Average | Grant- Date | ||||||||||||||||||||||||||||||||||
Grant-Date | Fair Value of | ||||||||||||||||||||||||||||||||||
Fair Value | Restricted Stock | ||||||||||||||||||||||||||||||||||
Units that Vested | |||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||
2013 | $ | 11.7 | $ | 1,689 | |||||||||||||||||||||||||||||||
2012 | $ | 7.57 | $ | 1,336 | |||||||||||||||||||||||||||||||
2011 | $ | 14.99 | $ | 1,757 | |||||||||||||||||||||||||||||||
Summary of Stock Option activity | ' | ' | |||||||||||||||||||||||||||||||||
A summary of stock option activity for the three months ended March 31, 2014 is as follows: | Information with respect to stock option activity for the year ended December 31, 2013, is as follows: | ||||||||||||||||||||||||||||||||||
Stock Options | Weighted | Weighted | Aggregate Intrinsic | Unamortized | Stock Options | Weighted | Weighted | Aggregate | Unamortized | ||||||||||||||||||||||||||
Average | Average | Value | Compensation | Average | Average | Intrinsic | Compensation | ||||||||||||||||||||||||||||
Exercise Price | Remaining | (In thousands) | Expense | Exercise Price | Remaining | Value | Expense | ||||||||||||||||||||||||||||
Contractual | (In thousands) | Contractual | (In thousands) | (In thousands) | |||||||||||||||||||||||||||||||
Life | Life | ||||||||||||||||||||||||||||||||||
(In years) | (In years) | ||||||||||||||||||||||||||||||||||
Outstanding at December 31, 2013 | 145,806 | $ | 21.97 | Outstanding at December 31, 2012 | 170,823 | $ | 21.3 | ||||||||||||||||||||||||||||
Exercised | — | $ | — | Expired | (25,017 | ) | $ | 17.41 | |||||||||||||||||||||||||||
Expired | — | $ | — | Outstanding and exercisable at December 31, 2013 | 145,806 | $ | 21.97 | 4.254 | $ | — | $ | — | |||||||||||||||||||||||
Outstanding and exercisable at March 31, 2014 | 145,806 | $ | 21.97 | 4 | $ | 1,139 | $ | — | Additional information related to stock options: | ||||||||||||||||||||||||||
Years Ended December 31: | Intrinsic Value of | Total Grant-Date | |||||||||||||||||||||||||||||||||
Stock Options | Fair Value of Stock | ||||||||||||||||||||||||||||||||||
Exercised | Options that Vested | ||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||
2013 | $ | — | $ | — | |||||||||||||||||||||||||||||||
2012 | $ | — | $ | — | |||||||||||||||||||||||||||||||
2011 | $ | 86 | $ | 538 | |||||||||||||||||||||||||||||||
Summary of Stock Appreciation Rights | ' | ' | |||||||||||||||||||||||||||||||||
A summary of SARs activity for the three months ended March 31, 2014 is as follows: | Information with respect to SARs granted and outstanding for the year ended December 31, 2013 is as follows: | ||||||||||||||||||||||||||||||||||
SARs | Weighted | Weighted | Aggregate Intrinsic | Unamortized | SARs | Weighted | Weighted | Aggregate | Unamortized | ||||||||||||||||||||||||||
Average Exercise Price | Average | Value | Compensation | Average Exercise Price | Average | Intrinsic | Compensation | ||||||||||||||||||||||||||||
Remaining | (In thousands) | Expense | Remaining | Value | Expense | ||||||||||||||||||||||||||||||
Contractual | (In thousands) | Contractual | (In thousands) | (In thousands) | |||||||||||||||||||||||||||||||
Life | Life | ||||||||||||||||||||||||||||||||||
(In years) | (In years) | ||||||||||||||||||||||||||||||||||
Outstanding at December 31, 2013 | 70,734 | $ | 22.6 | Outstanding at December 31, 2012 | 70,734 | $ | 22.6 | ||||||||||||||||||||||||||||
Exercised | (25,667 | ) | $ | — | Expired | — | $ | — | |||||||||||||||||||||||||||
Expired | — | $ | — | Outstanding and exercisable at December 31, 2013 | 70,734 | $ | 22.6 | 1.7 | $ | — | $ | — | |||||||||||||||||||||||
Outstanding and exercisable at March 31, 2014 | 45,067 | $ | 23.95 | 1.9 | $ | 352 | $ | — | |||||||||||||||||||||||||||
STOCKHOLDERS_EQUITY_AND_ACCUMU1
STOCKHOLDERS' EQUITY AND ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables) | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||
Mar. 31, 2014 | Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||
Equity [Abstract] | ' | ' | ||||||||||||||||||||||||||||||||||
Schedule of Accumulated Other Comprehensive Income (Loss) | ' | ' | ||||||||||||||||||||||||||||||||||
The following table reflects the changes in accumulated other comprehensive loss by component: | ||||||||||||||||||||||||||||||||||||
The following table reflects the changes in accumulated other comprehensive income (loss) by component: | ||||||||||||||||||||||||||||||||||||
Pension | Postretirement | Tax effect of | Accumulated | |||||||||||||||||||||||||||||||||
medical benefits | other | other | Pension | Postretirement | Available for | Tax effect of | Accumulated | |||||||||||||||||||||||||||||
comprehensive | comprehensive | medical benefits | sale | other | other | |||||||||||||||||||||||||||||||
income gains | loss | securities | comprehensive | comprehensive | ||||||||||||||||||||||||||||||||
(In thousands) | income gains | loss | ||||||||||||||||||||||||||||||||||
Balance at December 31, 2013 | $ | (12,255 | ) | $ | (20,292 | ) | $ | (31,048 | ) | $ | (63,595 | ) | (In thousands) | |||||||||||||||||||||||
Other comprehensive income (loss) before reclassifications | — | — | (138 | ) | (138 | ) | Balance at December 31, 2012 | $ | (44,719 | ) | $ | (77,527 | ) | $ | 57 | $ | (26,156 | ) | $ | (148,345 | ) | |||||||||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | 359 | 5 | — | 364 | Other comprehensive income before reclassifications | 28,974 | 53,230 | (45 | ) | (4,892 | ) | 77,267 | ||||||||||||||||||||||||
Balance at March 31, 2014 | $ | (11,896 | ) | $ | (20,287 | ) | $ | (31,186 | ) | $ | (63,369 | ) | Amounts reclassified from accumulated other comprehensive income (loss) | 3,490 | 4,005 | (12 | ) | — | 7,483 | |||||||||||||||||
Balance at December 31, 2013 | $ | (12,255 | ) | $ | (20,292 | ) | $ | — | $ | (31,048 | ) | $ | (63,595 | ) | ||||||||||||||||||||||
The following is a summary of accumulated other comprehensive income (loss): | ||||||||||||||||||||||||||||||||||||
Pension and | Available for | Tax Effect of | Accumulated | |||||||||||||||||||||||||||||||||
Postretirement | Sale | Other | Other | |||||||||||||||||||||||||||||||||
Medical Benefits | Securities | Comprehensive | Comprehensive | |||||||||||||||||||||||||||||||||
Income Gains | Loss | |||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||
Balance at January 1, 2011 | $ | (32,049 | ) | $ | 525 | $ | (26,156 | ) | $ | (57,680 | ) | |||||||||||||||||||||||||
2011 activity | (63,575 | ) | (200 | ) | — | (63,775 | ) | |||||||||||||||||||||||||||||
Balance at December 31, 2011 | (95,624 | ) | 325 | (26,156 | ) | (121,455 | ) | |||||||||||||||||||||||||||||
2012 activity | (26,622 | ) | (268 | ) | — | (26,890 | ) | |||||||||||||||||||||||||||||
Balance at December 31, 2012 | (122,246 | ) | 57 | (26,156 | ) | (148,345 | ) | |||||||||||||||||||||||||||||
2013 activity | 89,699 | (57 | ) | (4,892 | ) | 84,750 | ||||||||||||||||||||||||||||||
Balance at December 31, 2013 | $ | (32,547 | ) | $ | — | $ | (31,048 | ) | $ | (63,595 | ) | |||||||||||||||||||||||||
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | ' | ' | ||||||||||||||||||||||||||||||||||
The following table reflects the reclassifications out of accumulated other comprehensive loss for the three months ended March 31, 2014 are as follows (in thousands): | The following table reflects the reclassifications out of accumulated other comprehensive income (loss) for the year ended December 31, 2013 (in thousands): | |||||||||||||||||||||||||||||||||||
Details about accumulated other comprehensive loss components | Amount reclassified from accumulated | Affected line item | Details about accumulated other comprehensive income (loss) components | Amount reclassified from accumulated | Affected line item | |||||||||||||||||||||||||||||||
other comprehensive loss1 | in the statement | other comprehensive income (loss)(1) | in the statement | |||||||||||||||||||||||||||||||||
where net income | where net income | |||||||||||||||||||||||||||||||||||
Three Months Ended March 31, 2014 | (loss) is presented | (loss) is presented | ||||||||||||||||||||||||||||||||||
Amortization of defined benefit pension items | Available-for sale securities | |||||||||||||||||||||||||||||||||||
Actuarial losses | $ | 359 | 2 | Realized gains and losses on available-for sale securities | $ | (12 | ) | Other income (loss) | ||||||||||||||||||||||||||||
$ | (12 | ) | Total | |||||||||||||||||||||||||||||||||
Amortization of postretirement medical items | Amortization of defined benefit pension items: | |||||||||||||||||||||||||||||||||||
Prior service costs | $ | (159 | ) | 3 | Actuarial losses | $ | 3,490 | (2) | ||||||||||||||||||||||||||||
Actuarial losses | 164 | 3 | ||||||||||||||||||||||||||||||||||
Amortization of postretirement medical items: | ||||||||||||||||||||||||||||||||||||
$ | 5 | Total | Prior service costs | $ | (636 | ) | (3) | |||||||||||||||||||||||||||||
Actuarial losses | 4,641 | (3) | ||||||||||||||||||||||||||||||||||
____________________ | ||||||||||||||||||||||||||||||||||||
$ | 4,005 | Total | ||||||||||||||||||||||||||||||||||
-1 | Amounts in parentheses indicate debits to income/loss. | |||||||||||||||||||||||||||||||||||
____________________ | ||||||||||||||||||||||||||||||||||||
-2 | These accumulated other comprehensive loss components are included in the computation of net periodic pension cost. (See Note 5 - Pension for additional details) | |||||||||||||||||||||||||||||||||||
-1 | Amounts in parentheses indicate debits to income/loss. | |||||||||||||||||||||||||||||||||||
-3 | These accumulated other comprehensive loss components are included in the computation of net periodic postretirement medical cost. (See Note 5 - Postretirement Medical Benefits for additional details) | |||||||||||||||||||||||||||||||||||
-2 | These accumulated other comprehensive income components are included in the computation of net periodic pension cost. (See Note 7 - Pension and Other Savings Plans for additional details) | |||||||||||||||||||||||||||||||||||
-3 | These accumulated other comprehensive income components are included in the computation of net periodic postretirement medical cost. (See Note 6 - Postretirement Medical Benefits for additional details) |
INCOME_TAX_Tables
INCOME TAX (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||
Schedule of components of income tax expense (benefit) | ' | |||||||||||
Income tax expense (benefit) attributable to net loss before income taxes consists of: | ||||||||||||
Years Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(In thousands) | ||||||||||||
Current: | ||||||||||||
Federal | $ | (2 | ) | $ | (8 | ) | $ | (174 | ) | |||
State | 112 | 98 | 168 | |||||||||
110 | 90 | (6 | ) | |||||||||
Deferred: | ||||||||||||
Federal | (4,189 | ) | — | — | ||||||||
State | (703 | ) | — | (420 | ) | |||||||
(4,892 | ) | — | (420 | ) | ||||||||
Income tax expense (benefit) | $ | (4,782 | ) | $ | 90 | $ | (426 | ) | ||||
Schedule of effective income tax rate reconciliation | ' | |||||||||||
Income tax expense (benefit) attributable to net loss before income taxes differed from the amounts computed by applying the statutory Federal income tax rate of 34% to pre-tax income as a result of the following: | ||||||||||||
Years Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(In thousands) | ||||||||||||
Computed tax benefit at statutory rate | $ | (4,389 | ) | $ | (4,615 | ) | $ | (12,683 | ) | |||
Increase (decrease) in tax expense resulting from: | ||||||||||||
Tax depletion in excess of basis | (6,187 | ) | (4,782 | ) | (3,820 | ) | ||||||
Non-deductible interest expense | — | — | 3,717 | |||||||||
Noncontrolling interest | 1,167 | 2,188 | 1,283 | |||||||||
State income taxes, net | (2,506 | ) | (3,427 | ) | (4,548 | ) | ||||||
Change in valuation allowance for net deferred tax assets | 15 | 8,571 | 2,923 | |||||||||
Indian Coal Tax Credits | 92 | 83 | (122 | ) | ||||||||
Federal and state NOL expiration | — | 153 | 11,226 | |||||||||
Change in state effective tax rate | 6,202 | 2,049 | 1,310 | |||||||||
Other, net | 824 | (130 | ) | 288 | ||||||||
Income tax expense (benefit) | $ | (4,782 | ) | $ | 90 | $ | (426 | ) | ||||
Income tax benefit on amounts recognized in OCI | ' | |||||||||||
In accordance with GAAP, the Company recorded a tax benefit on its loss from continuing operations, which was exactly offset by income tax expense on other comprehensive income as follows: | ||||||||||||
Loss From | Other | Total | ||||||||||
Continuing | Comprehensive | Comprehensive | ||||||||||
Operations | Income | Income | ||||||||||
(In thousands) | ||||||||||||
Pre-allocation | $ | 110 | $ | — | $ | 110 | ||||||
Tax allocation | (4,892 | ) | 4,892 | — | ||||||||
As presented | $ | (4,782 | ) | $ | 4,892 | $ | 110 | |||||
Components of OCI gain: | ||||||||||||
Gross | Tax Allocation | |||||||||||
Pension | $ | 32,464 | $ | 1,772 | ||||||||
Post-retirement benefits | 57,235 | 3,123 | ||||||||||
Unrealized gain (loss) on securities | (57 | ) | (3 | ) | ||||||||
Total | $ | 89,642 | $ | 4,892 | ||||||||
Schedule of components of deferred tax assets and liabilities | ' | |||||||||||
The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities are presented below: | ||||||||||||
December 31, | ||||||||||||
2013 | 2012 | |||||||||||
(In thousands) | ||||||||||||
Deferred tax assets: | ||||||||||||
Federal net operating loss carryforwards | $ | 89,698 | $ | 84,330 | ||||||||
State net operating loss carryforwards | 26,509 | 28,700 | ||||||||||
Alternative minimum tax credit carryforwards | 7,179 | 6,973 | ||||||||||
Charitable contribution carryforwards | 146 | 132 | ||||||||||
Indian Coal Tax Credit carryforwards | 25,499 | 25,591 | ||||||||||
Accruals for the following: | ||||||||||||
Workers’ compensation | 2,726 | 3,592 | ||||||||||
Postretirement medical benefit and pension obligations | 106,912 | 138,710 | ||||||||||
Incentive plans | 1,606 | 1,995 | ||||||||||
Asset retirement obligations | 68,989 | 77,698 | ||||||||||
Deferred revenues | 18,919 | 22,500 | ||||||||||
Excess of pneumoconiosis benefit obligation over trust assets | 3,262 | 3,185 | ||||||||||
Acquisition Costs | 1,276 | 198 | ||||||||||
Restructuring | 1,909 | — | ||||||||||
Other accruals | 6,656 | 6,035 | ||||||||||
Total gross deferred assets | 361,286 | 399,639 | ||||||||||
Less valuation allowance | (264,464 | ) | (293,504 | ) | ||||||||
Net deferred tax assets | 96,822 | 106,135 | ||||||||||
Deferred tax liabilities: | ||||||||||||
Property, plant and equipment, differences due to depreciation and amortization | (94,868 | ) | (104,992 | ) | ||||||||
Other | (1,954 | ) | (1,143 | ) | ||||||||
Total gross deferred tax liabilities | (96,822 | ) | (106,135 | ) | ||||||||
Net deferred tax asset | $ | — | $ | — | ||||||||
Summary of available Federal net operating loss carryforwards | ' | |||||||||||
As of December 31, 2013, the Company has available Federal net operating loss carryforwards to reduce future regular taxable income, which expire as follows: | ||||||||||||
Expiration Date | Regular Tax | |||||||||||
(In thousands) | ||||||||||||
2018 | $ | 28 | ||||||||||
2019 | 88,429 | |||||||||||
2020 | 32 | |||||||||||
2021 | 20 | |||||||||||
after 2022 | 176,413 | |||||||||||
Total | $ | 264,922 | ||||||||||
Schedule of unrecognized tax benefits roll forward | ' |
COMMITMENTS_AND_CONTINGENCIES_
COMMITMENTS AND CONTINGENCIES (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||||||
Gross value and accumulated amortization of property, plant and equipment and mine development assets under capital leases | ' | |||||||
The following shows the gross value and accumulated amortization of property, plant and equipment and mine development assets under capital leases related primarily to the leasing of mining equipment: | ||||||||
2013 | 2012 | |||||||
(In thousands) | ||||||||
Gross value | $ | 24,982 | $ | 34,677 | ||||
Accumulated amortization | 11,983 | 15,887 | ||||||
Future minimum capital and operating lease payments | ' | |||||||
Future minimum capital and operating lease payments as of December 31, 2013, are as follows: | ||||||||
Capital | Operating | |||||||
Leases | Leases | |||||||
(In thousands) | ||||||||
2014 | $ | 5,949 | $ | 7,896 | ||||
2015 | 2,419 | 5,156 | ||||||
2016 | 1,548 | 2,584 | ||||||
2017 | 495 | 1,256 | ||||||
2018 | 316 | 515 | ||||||
Thereafter | — | — | ||||||
Total minimum lease payments | 10,727 | $ | 17,407 | |||||
Less imputed interest | (574 | ) | ||||||
Present value of minimum capital lease payments | $ | 10,153 | ||||||
EARNINGS_PER_SHARE_Tables
EARNINGS PER SHARE (Tables) | 3 Months Ended | 12 Months Ended | |||||||||||||
Mar. 31, 2014 | Dec. 31, 2013 | ||||||||||||||
Earnings Per Share [Abstract] | ' | ' | |||||||||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share | ' | ' | |||||||||||||
The table below shows the number of shares that were excluded from the calculation of diluted loss per share because their inclusion would be anti-dilutive to the calculation: | The table below shows the number of shares that were excluded from the calculation of diluted loss per share because their inclusion would be anti-dilutive to the calculation: | ||||||||||||||
Three Months Ended March 31, | Years Ended December 31, | ||||||||||||||
2014 | 2013 | 2013 | 2012 | 2011 | |||||||||||
(In thousands) | (In thousands) | ||||||||||||||
Convertible securities | 828 | 1,093 | Convertible notes and securities | 1,093 | 1,093 | 1,093 | |||||||||
Restricted stock units, stock options and SARs | 779 | 978 | Restricted stock units, stock options, and SARs | 805 | 978 | 634 | |||||||||
Total shares excluded from diluted shares calculation | 1,607 | 2,071 | Total shares excluded from diluted shares calculation | 1,898 | 2,071 | 1,727 | |||||||||
BUSINESS_SEGMENT_INFORMATION_T
BUSINESS SEGMENT INFORMATION (Tables) | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||
Mar. 31, 2014 | Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | ' | ||||||||||||||||||||||||||||||||||||||
Summarized financial information by segment | ' | ' | ||||||||||||||||||||||||||||||||||||||
Summarized financial information by segment is as follows: | Summarized financial information by segment is as follows: | |||||||||||||||||||||||||||||||||||||||
Coal | Power | Heritage | Corporate | Consolidated | Coal | Power | Heritage | Corporate | Consolidated | |||||||||||||||||||||||||||||||
(In thousands) | (In thousands) | |||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, 2014 | 31-Dec-13 | |||||||||||||||||||||||||||||||||||||||
Revenues | $ | 158,190 | $ | 22,012 | $ | — | $ | — | $ | 180,202 | Revenues | $ | 587,119 | $ | 87,567 | $ | — | $ | — | $ | 674,686 | |||||||||||||||||||
Restructuring charges | — | 397 | — | — | 397 | Restructuring charges | — | 5,078 | — | — | 5,078 | |||||||||||||||||||||||||||||
Depreciation, depletion, and amortization | 13,459 | 2,524 | — | 76 | 16,059 | Operating income (loss) | 44,471 | 4,907 | (14,498 | ) | (9,518 | ) | 25,362 | |||||||||||||||||||||||||||
Operating income (loss) | 13,447 | 1,744 | (3,830 | ) | (3,308 | ) | 8,053 | Depreciation, depletion, and amortization | 56,698 | 10,179 | — | 354 | 67,231 | |||||||||||||||||||||||||||
Total assets | 697,916 | 167,998 | 15,622 | 525,611 | 1,407,147 | Total assets | 705,816 | 180,684 | 15,497 | 44,688 | 946,685 | |||||||||||||||||||||||||||||
Capital expenditures | 3,053 | 35 | — | (38 | ) | 3,050 | Capital expenditures | 27,064 | 790 | — | 737 | 28,591 | ||||||||||||||||||||||||||||
Three Months Ended March 31, 2013 | 31-Dec-12 | |||||||||||||||||||||||||||||||||||||||
Revenues | $ | 142,112 | $ | 19,336 | $ | — | $ | — | $ | 161,448 | Revenues | $ | 519,152 | $ | 81,285 | $ | — | $ | — | $ | 600,437 | |||||||||||||||||||
Depreciation, depletion, and amortization | 11,801 | 2,531 | — | 94 | 14,426 | Operating income (loss) | 48,235 | 8,244 | (14,711 | ) | (12,896 | ) | 28,872 | |||||||||||||||||||||||||||
Operating income (loss) | 13,472 | (1,003 | ) | (4,175 | ) | (2,560 | ) | 5,734 | Depreciation, depletion, and amortization | 46,639 | 10,085 | — | 421 | 57,145 | ||||||||||||||||||||||||||
Total assets | 711,128 | 186,309 | 15,877 | 29,701 | 943,015 | Total assets | 703,315 | 189,599 | 15,508 | 27,693 | 936,115 | |||||||||||||||||||||||||||||
Capital expenditures | 5,010 | 134 | — | 157 | 5,301 | Capital expenditures | 18,804 | 2,070 | — | 158 | 21,032 | |||||||||||||||||||||||||||||
31-Dec-11 | ||||||||||||||||||||||||||||||||||||||||
Revenues | $ | 414,928 | $ | 86,785 | $ | — | $ | — | $ | 501,713 | ||||||||||||||||||||||||||||||
Operating income (loss) | 27,453 | 12,119 | (19,675 | ) | (9,271 | ) | 10,626 | |||||||||||||||||||||||||||||||||
Depreciation, depletion, and amortization | 35,112 | 10,176 | — | 306 | 45,594 | |||||||||||||||||||||||||||||||||||
Total assets | 510,507 | 194,730 | 13,769 | 40,166 | 759,172 | |||||||||||||||||||||||||||||||||||
Capital expenditures | 24,678 | 2,119 | — | 797 | 27,594 | |||||||||||||||||||||||||||||||||||
Reconciliation of segment operating income to income (loss) | ' | ' | ||||||||||||||||||||||||||||||||||||||
A reconciliation of segment income (loss) from operations to loss before income taxes follows: | A reconciliation of segment income from operations to loss before income taxes follows: | |||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, | Years Ended | |||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||||||||||||
(In thousands) | (In thousands) | |||||||||||||||||||||||||||||||||||||||
Income from operations | $ | 8,053 | $ | 5,734 | Income from operations | $ | 25,362 | $ | 28,872 | $ | 10,626 | |||||||||||||||||||||||||||||
Interest expense | (20,798 | ) | (10,160 | ) | Loss on extinguishment of debt | (64 | ) | (1,986 | ) | (17,030 | ) | |||||||||||||||||||||||||||||
Interest income | 302 | 297 | Interest expense | (39,937 | ) | (42,677 | ) | (29,769 | ) | |||||||||||||||||||||||||||||||
Interest income | 1,366 | 1,496 | 1,444 | |||||||||||||||||||||||||||||||||||||
Loss on foreign exchange | (6,790 | ) | — | |||||||||||||||||||||||||||||||||||||
Other income (loss) | 364 | 723 | (2,572 | ) | ||||||||||||||||||||||||||||||||||||
Other income | 93 | 70 | ||||||||||||||||||||||||||||||||||||||
Loss before income taxes | $ | (12,909 | ) | $ | (13,572 | ) | $ | (37,301 | ) | |||||||||||||||||||||||||||||||
Loss before income taxes | $ | (19,140 | ) | $ | (4,059 | ) | ||||||||||||||||||||||||||||||||||
Schedule of revenue by major customers by segment | ' | ' | ||||||||||||||||||||||||||||||||||||||
The Company derives its revenues from a few key customers. The customers from which more than 10% of total revenue has been derived and the percentage of total revenue from those customers is summarized as follows: | ||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||||||
Customer A – coal | $ | 117,545 | $ | 126,982 | $ | 120,243 | ||||||||||||||||||||||||||||||||||
Customer B – coal (1) | 112,061 | 96,718 | — | |||||||||||||||||||||||||||||||||||||
Customer C – coal | 89,266 | 81,981 | 81,353 | |||||||||||||||||||||||||||||||||||||
Customer D – power | 86,390 | 80,109 | 85,639 | |||||||||||||||||||||||||||||||||||||
Customer E – coal | 85,929 | 66,128 | 65,224 | |||||||||||||||||||||||||||||||||||||
Customer F – coal (2) | 25,958 | 26,525 | 52,835 | |||||||||||||||||||||||||||||||||||||
Percentage of total revenue | 77 | % | 80 | % | 81 | % | ||||||||||||||||||||||||||||||||||
____________________ | ||||||||||||||||||||||||||||||||||||||||
-1 | The revenue from Customer B did not exceed 10% in 2011. | |||||||||||||||||||||||||||||||||||||||
-2 | The revenue from Customer F did not exceed 10% in |
QUARTERLY_FINANCIAL_DATA_UNAUD1
QUARTERLY FINANCIAL DATA (UNAUDITED) (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | |||||||||||||||
Schedule of quarterly financial data (unaudited) | ' | |||||||||||||||
Summarized quarterly financial data is as follows: | ||||||||||||||||
Three Months Ended | ||||||||||||||||
March 31 | June 30 | September 30 | December 31 | |||||||||||||
(In thousands; except per share data) | ||||||||||||||||
2013:00:00 | ||||||||||||||||
Revenues | $ | 161,448 | $ | 162,499 | $ | 176,792 | $ | 173,947 | ||||||||
Operating income (loss) | 5,734 | 11,975 | 8,536 | (883 | ) | |||||||||||
Net income (loss) applicable to common shareholders | (2,725 | ) | (622 | ) | 2,421 | (5,131 | ) | |||||||||
Basic income (loss) per common share | $ | (0.19 | ) | $ | (0.04 | ) | $ | 0.17 | $ | (0.35 | ) | |||||
2012:00:00 | ||||||||||||||||
Revenues | $ | 147,236 | $ | 132,842 | $ | 161,332 | $ | 159,027 | ||||||||
Operating income (loss) | 9,086 | (4,262 | ) | 15,451 | 8,597 | |||||||||||
Net income (loss) applicable to common shareholders | 518 | (12,423 | ) | 7,282 | (3,963 | ) | ||||||||||
Basic income (loss) per common share | $ | 0.04 | $ | (0.89 | ) | $ | 0.52 | $ | (0.28 | ) | ||||||
SUPPLEMENTAL_CONSOLIDATING_FIN1
SUPPLEMENTAL CONSOLIDATING FINANCIAL INFORMATION (Tables) | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||
Mar. 31, 2014 | Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
Supplemental Consolidating Balance Sheet Information | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
CONSOLIDATING BALANCE SHEETS(1) | ||||||||||||||||||||||||||||||||||||||||||||||||||
March 31, 2014 | ||||||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | Assets | Parent/ | Co-Issuer | Guarantor | Non- | Consolidating | Total | |||||||||||||||||||||||||||||||||||||||||||
Issuer | Subsidiaries | Guarantor | Adjustments | |||||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries | ||||||||||||||||||||||||||||||||||||||||||||||||||
Current assets: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Assets | Parent/ | Co-Issuer | Guarantor | Non- | Consolidating | Total | Cash and cash equivalents | $ | 25,326 | $ | 3,341 | $ | 7,942 | $ | 24,501 | $ | — | $ | 61,110 | |||||||||||||||||||||||||||||||
Issuer | Subsidiaries | Guarantor | Adjustments | |||||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries | Receivables: | |||||||||||||||||||||||||||||||||||||||||||||||||
Current assets: | Trade | — | 12,934 | 17,389 | 35,873 | — | 66,196 | |||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 28,759 | $ | 4,043 | $ | 8,794 | $ | 20,304 | $ | — | $ | 61,900 | ||||||||||||||||||||||||||||||||||||||
Contractual third-party reclamation receivables | — | — | 44 | 8,443 | — | 8,487 | ||||||||||||||||||||||||||||||||||||||||||||
Receivables: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Trade | — | 12,456 | 22,857 | 29,402 | — | 64,715 | Intercompany receivable/payable | (3,568 | ) | — | 4,384 | (33,681 | ) | 32,865 | — | |||||||||||||||||||||||||||||||||||
Contractual third-party reclamation receivables | — | — | 44 | 8,169 | — | 8,213 | Other | 95 | 210 | 2,974 | 1,831 | (24 | ) | 5,086 | ||||||||||||||||||||||||||||||||||||
Intercompany receivable/payable | (2,263 | ) | — | 3,499 | (33,946 | ) | 32,710 | — | (3,473 | ) | 13,144 | 24,791 | 12,466 | 32,841 | 79,769 | |||||||||||||||||||||||||||||||||||
Other | 273 | 208 | 244 | 681 | (31 | ) | 1,375 | Inventories | — | 6,161 | 16,077 | 17,735 | (1 | ) | 39,972 | |||||||||||||||||||||||||||||||||||
(1,990 | ) | 12,664 | 26,644 | 4,306 | 32,679 | 74,303 | Deferred income taxes | — | — | 870 | — | (870 | ) | — | ||||||||||||||||||||||||||||||||||||
Inventories | — | 1,845 | 15,133 | 18,469 | — | 35,447 | Restricted investments and bond collateral | — | 5,998 | — | — | — | 5,998 | |||||||||||||||||||||||||||||||||||||
Restricted investments and bond collateral | 16,900 | — | — | — | — | 16,900 | Other current assets | 6,115 | 143 | 6,883 | 5,049 | — | 18,190 | |||||||||||||||||||||||||||||||||||||
Other current assets | 7,044 | 425 | 3,168 | 6,005 | 1 | 16,643 | Total current assets | 27,968 | 28,787 | 56,563 | 59,751 | 31,970 | 205,039 | |||||||||||||||||||||||||||||||||||||
Total current assets | 50,713 | 18,977 | 53,739 | 49,084 | 32,680 | 205,193 | Property, plant and equipment: | |||||||||||||||||||||||||||||||||||||||||||
Land and mineral rights | — | 1,395 | 104,631 | 172,163 | (1 | ) | 278,188 | |||||||||||||||||||||||||||||||||||||||||||
Property, plant and equipment: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Land and mineral rights | — | 1,395 | 104,640 | 172,163 | — | 278,198 | Plant and equipment | 3,939 | 220,872 | 229,998 | 202,886 | 1 | 657,696 | |||||||||||||||||||||||||||||||||||||
Plant and equipment | 3,966 | 220,932 | 245,368 | 202,923 | — | 673,189 | 3,939 | 222,267 | 334,629 | 375,049 | — | 935,884 | ||||||||||||||||||||||||||||||||||||||
3,966 | 222,327 | 350,008 | 375,086 | — | 951,387 | Less accumulated depreciation, depletion and amortization | 2,705 | 71,653 | 132,189 | 239,302 | (1 | ) | 445,848 | |||||||||||||||||||||||||||||||||||||
Less accumulated depreciation, depletion and amortization | 2,781 | 74,177 | 138,718 | 246,079 | (1 | ) | 461,754 | Net property, plant and equipment | 1,234 | 150,614 | 202,440 | 135,747 | 1 | 490,036 | ||||||||||||||||||||||||||||||||||||
Net property, plant and equipment | 1,185 | 148,150 | 211,290 | 129,007 | 1 | 489,633 | Advanced coal royalties | — | — | 3,000 | 4,311 | — | 7,311 | |||||||||||||||||||||||||||||||||||||
Advanced coal royalties | — | — | 3,000 | 4,263 | — | 7,263 | Reclamation deposits | — | — | — | 74,921 | — | 74,921 | |||||||||||||||||||||||||||||||||||||
Reclamation deposits | — | — | — | 75,315 | — | 75,315 | Restricted investments and bond collateral | 15,134 | — | 36,619 | 17,482 | — | 69,235 | |||||||||||||||||||||||||||||||||||||
Restricted investments and bond collateral | 469,385 | — | 36,615 | 17,483 | — | 523,483 | Contractual third-party reclamation receivables | — | — | 293 | 88,010 | — | 88,303 | |||||||||||||||||||||||||||||||||||||
Contractual third-party reclamation receivables | — | — | 302 | 87,734 | — | 88,036 | Intangible assets | — | 1,283 | — | 238 | (1 | ) | 1,520 | ||||||||||||||||||||||||||||||||||||
Intangible assets | — | 871 | — | 228 | — | 1,099 | Investment in subsidiaries | 266,847 | — | — | 3,770 | (270,617 | ) | — | ||||||||||||||||||||||||||||||||||||
Investment in subsidiaries | 237,926 | — | — | 3,770 | (241,696 | ) | — | Other assets | 8,636 | — | 586 | 3,098 | (2,000 | ) | 10,320 | |||||||||||||||||||||||||||||||||||
Other assets | 15,563 | — | 569 | 4,493 | (3,500 | ) | 17,125 | Total assets | $ | 319,819 | $ | 180,684 | $ | 299,501 | $ | 387,328 | $ | (240,647 | ) | $ | 946,685 | |||||||||||||||||||||||||||||
Total assets | $ | 774,772 | $ | 167,998 | $ | 305,515 | $ | 371,377 | $ | (212,515 | ) | $ | 1,407,147 | ____________________ | ||||||||||||||||||||||||||||||||||||
(1) This table is presented for historical information and presents WML and its subsidiaries as non-guarantor subsidiaries. WML and its subsidiaries became additional guarantor subsidiaries effective on July 31, 2014. | ||||||||||||||||||||||||||||||||||||||||||||||||||
____________________ | CONSOLIDATING BALANCE SHEETS (1) | |||||||||||||||||||||||||||||||||||||||||||||||||
(1) This table is presented for historical information and presents WML and its subsidiaries as non-guarantor subsidiaries. WML and its subsidiaries became additional guarantor subsidiaries effective on July 31, 2014. | December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||
CONSOLIDATING BALANCE SHEETS(1) | ||||||||||||||||||||||||||||||||||||||||||||||||||
March 31, 2014 | ||||||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Liabilities and Shareholders’ Deficit | Parent/ | Co-Issuer | Guarantor | Non- | Consolidating | Total | ||||||||||||||||||||||||||||||||||||||||||||
Issuer | Subsidiaries | Guarantor | Adjustments | |||||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries | ||||||||||||||||||||||||||||||||||||||||||||||||||
Liabilities and Shareholders’ Deficit | Parent/ | Co-Issuer | Guarantor | Non- | Consolidating | Total | Current liabilities | |||||||||||||||||||||||||||||||||||||||||||
Issuer | Subsidiaries | Guarantor | Adjustments | Current installments of long-term debt | $ | 20,392 | $ | — | $ | 2,790 | $ | 21,161 | $ | — | $ | 44,343 | ||||||||||||||||||||||||||||||||||
Subsidiaries | ||||||||||||||||||||||||||||||||||||||||||||||||||
Current liabilities | Accounts payable and accrued expenses: | |||||||||||||||||||||||||||||||||||||||||||||||||
Current installments of long-term debt | $ | 22,785 | $ | — | $ | 4,596 | $ | 21,205 | $ | — | $ | 48,586 | Trade | 4,122 | 10,119 | 12,522 | 30,743 | 1 | 57,507 | |||||||||||||||||||||||||||||||
Accounts payable and accrued expenses: | Production taxes | — | 3 | 17,429 | 24,472 | 1 | 41,905 | |||||||||||||||||||||||||||||||||||||||||||
Trade | 9,000 | 6,331 | 14,710 | 32,557 | — | 62,598 | ||||||||||||||||||||||||||||||||||||||||||||
Workers’ compensation | 717 | — | — | — | — | 717 | ||||||||||||||||||||||||||||||||||||||||||||
Production taxes | — | 405 | 22,442 | 23,947 | — | 46,794 | ||||||||||||||||||||||||||||||||||||||||||||
Postretirement medical benefits | 12,042 | — | 329 | 1,583 | 1 | 13,955 | ||||||||||||||||||||||||||||||||||||||||||||
Workers’ compensation | 712 | — | — | — | — | 712 | ||||||||||||||||||||||||||||||||||||||||||||
SERP | 390 | — | — | — | — | 390 | ||||||||||||||||||||||||||||||||||||||||||||
Postretirement medical benefits | 12,042 | — | 329 | 1,583 | 1 | 13,955 | ||||||||||||||||||||||||||||||||||||||||||||
Deferred revenue | — | 9,024 | 3,969 | 1,075 | — | 14,068 | ||||||||||||||||||||||||||||||||||||||||||||
SERP | 390 | — | — | — | — | 390 | ||||||||||||||||||||||||||||||||||||||||||||
Asset retirement obligations | — | — | 3,104 | 20,250 | (1 | ) | 23,353 | |||||||||||||||||||||||||||||||||||||||||||
Deferred revenue | — | 9,581 | 4,813 | 1,640 | — | 16,034 | ||||||||||||||||||||||||||||||||||||||||||||
Other current liabilities | 11,302 | 5,053 | 317 | 142 | (24 | ) | 16,790 | |||||||||||||||||||||||||||||||||||||||||||
Asset retirement obligations | — | — | 3,554 | 18,673 | — | 22,227 | ||||||||||||||||||||||||||||||||||||||||||||
Total current liabilities | 48,965 | 24,199 | 40,460 | 99,426 | (22 | ) | 213,028 | |||||||||||||||||||||||||||||||||||||||||||
Other current liabilities | 19,196 | 5,053 | — | 172 | (31 | ) | 24,390 | |||||||||||||||||||||||||||||||||||||||||||
Long-term debt, less current installments | 224,582 | — | 2,664 | 70,248 | (2,000 | ) | 295,494 | |||||||||||||||||||||||||||||||||||||||||||
Total current liabilities | 64,125 | 21,370 | 50,444 | 99,777 | (30 | ) | 235,686 | |||||||||||||||||||||||||||||||||||||||||||
Workers’ compensation, less current portion | 6,744 | — | — | — | — | 6,744 | ||||||||||||||||||||||||||||||||||||||||||||
Long-term debt, less current installments | 677,385 | — | 12,912 | 64,848 | (3,500 | ) | 751,645 | |||||||||||||||||||||||||||||||||||||||||||
Excess of black lung benefit obligation over trust assets | 8,675 | — | — | — | — | 8,675 | ||||||||||||||||||||||||||||||||||||||||||||
Workers’ compensation, less current portion | 6,680 | — | — | — | — | 6,680 | ||||||||||||||||||||||||||||||||||||||||||||
Postretirement medical benefits, less current portion | 185,858 | — | 49,418 | 35,098 | — | 270,374 | ||||||||||||||||||||||||||||||||||||||||||||
Excess of black lung benefit obligation over trust assets | 9,376 | — | — | — | — | 9,376 | ||||||||||||||||||||||||||||||||||||||||||||
Pension and SERP obligations, less current portion | 13,069 | 99 | 9,381 | 1,627 | — | 24,176 | ||||||||||||||||||||||||||||||||||||||||||||
Postretirement medical benefits, less current portion | 185,447 | — | 50,472 | 35,356 | — | 271,275 | ||||||||||||||||||||||||||||||||||||||||||||
Deferred revenue, less current portion | — | 41,297 | — | 5,271 | (1 | ) | 46,567 | |||||||||||||||||||||||||||||||||||||||||||
Pension and SERP obligations, less current portion | 12,921 | 98 | 9,494 | 1,011 | — | 23,524 | ||||||||||||||||||||||||||||||||||||||||||||
Asset retirement obligations, less current portion | — | 892 | 50,472 | 205,147 | — | 256,511 | ||||||||||||||||||||||||||||||||||||||||||||
Deferred revenue, less current portion | — | 38,325 | — | 4,974 | — | 43,299 | ||||||||||||||||||||||||||||||||||||||||||||
Intangible liabilities | — | 5,606 | — | — | — | 5,606 | ||||||||||||||||||||||||||||||||||||||||||||
Asset retirement obligations, less current portion | — | 909 | 51,300 | 206,827 | — | 259,036 | ||||||||||||||||||||||||||||||||||||||||||||
Other liabilities | 5,939 | — | 6,220 | 1,450 | (6,220 | ) | 7,389 | |||||||||||||||||||||||||||||||||||||||||||
Intangible liabilities | — | 5,339 | — | — | — | 5,339 | ||||||||||||||||||||||||||||||||||||||||||||
Intercompany receivable/payable | 13,866 | — | 525 | 6,434 | (20,825 | ) | — | |||||||||||||||||||||||||||||||||||||||||||
Other liabilities | 6,440 | — | — | 1,063 | — | 7,503 | ||||||||||||||||||||||||||||||||||||||||||||
Total liabilities | 507,698 | 72,093 | 159,140 | 424,701 | (29,068 | ) | 1,134,564 | |||||||||||||||||||||||||||||||||||||||||||
Intercompany receivable/payable | 18,613 | — | (4,326 | ) | 5,633 | (19,920 | ) | — | ||||||||||||||||||||||||||||||||||||||||||
Shareholders’ deficit | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total liabilities | 980,987 | 66,041 | 170,296 | 419,489 | (23,450 | ) | 1,613,363 | Preferred stock | 160 | — | — | — | — | 160 | ||||||||||||||||||||||||||||||||||||
Shareholders’ deficit | Common stock | 36,479 | 5 | 110 | 132 | (247 | ) | 36,479 | ||||||||||||||||||||||||||||||||||||||||||
Preferred stock | 121 | — | — | — | — | 121 | ||||||||||||||||||||||||||||||||||||||||||||
Other paid-in capital | 134,861 | 52,835 | 94,370 | 64,401 | (211,606 | ) | 134,861 | |||||||||||||||||||||||||||||||||||||||||||
Common stock | 37,155 | 5 | 110 | 132 | (247 | ) | 37,155 | |||||||||||||||||||||||||||||||||||||||||||
Accumulated other comprehensive income (loss) | (63,595 | ) | (164 | ) | 17,492 | (14,153 | ) | (3,175 | ) | (63,595 | ) | |||||||||||||||||||||||||||||||||||||||
Other paid-in capital | 134,953 | 52,842 | 92,896 | 66,027 | (211,766 | ) | 134,952 | |||||||||||||||||||||||||||||||||||||||||||
Accumulated earnings (deficit) | (295,784 | ) | 55,915 | 28,389 | (87,753 | ) | 3,449 | (295,784 | ) | |||||||||||||||||||||||||||||||||||||||||
Accumulated other comprehensive loss | (63,369 | ) | (162 | ) | 17,372 | (13,937 | ) | (3,273 | ) | (63,369 | ) | |||||||||||||||||||||||||||||||||||||||
Total Westmoreland Coal Company shareholders’ deficit | (187,879 | ) | 108,591 | 140,361 | (37,373 | ) | (211,579 | ) | (187,879 | ) | ||||||||||||||||||||||||||||||||||||||||
Accumulated earnings (deficit) | (315,075 | ) | 49,272 | 24,841 | (100,334 | ) | 26,221 | (315,075 | ) | |||||||||||||||||||||||||||||||||||||||||
Noncontrolling interest | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||
Total equity (deficit) | (206,215 | ) | 101,957 | 135,219 | (48,112 | ) | (189,065 | ) | (206,216 | ) | ||||||||||||||||||||||||||||||||||||||||
Total equity (deficit) | (187,879 | ) | 108,591 | 140,361 | (37,373 | ) | (211,579 | ) | (187,879 | ) | ||||||||||||||||||||||||||||||||||||||||
Total liabilities and shareholders’ deficit | $ | 774,772 | $ | 167,998 | $ | 305,515 | $ | 371,377 | $ | (212,515 | ) | $ | 1,407,147 | |||||||||||||||||||||||||||||||||||||
Total liabilities and shareholders’ deficit | $ | 319,819 | $ | 180,684 | $ | 299,501 | $ | 387,328 | $ | (240,647 | ) | $ | 946,685 | |||||||||||||||||||||||||||||||||||||
____________________ | ||||||||||||||||||||||||||||||||||||||||||||||||||
(1) This table is presented for historical information and presents WML and its subsidiaries as non-guarantor subsidiaries. WML and its subsidiaries became additional guarantor subsidiaries effective on July 31, 2014. | ____________________ | |||||||||||||||||||||||||||||||||||||||||||||||||
(1) This table is presented for historical information and presents WML and its subsidiaries as non-guarantor subsidiaries. WML and its subsidiaries became additional guarantor subsidiaries effective on July 31, 2014. | ||||||||||||||||||||||||||||||||||||||||||||||||||
CONSOLIDATING BALANCE SHEETS(1) | ||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | CONSOLIDATING BALANCE SHEETS (1) | |||||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Assets | Parent/ | Co-Issuer | Guarantor | Non- | Consolidating | Total | ||||||||||||||||||||||||||||||||||||||||||||
Issuer | Subsidiaries | Guarantor | Adjustments | Assets | Parent/ | Co-Issuer | Guarantor | Non- | Consolidating | Total | ||||||||||||||||||||||||||||||||||||||||
Subsidiaries | Issuer | Subsidiaries | Guarantor | Adjustments | ||||||||||||||||||||||||||||||||||||||||||||||
Current assets: | Subsidiaries | |||||||||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 25,326 | $ | 3,341 | $ | 7,942 | $ | 24,501 | $ | — | $ | 61,110 | Current assets: | |||||||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 14,836 | $ | 4,545 | $ | 5,362 | $ | 6,867 | $ | — | $ | 31,610 | ||||||||||||||||||||||||||||||||||||||
Receivables: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Trade | — | 12,934 | 17,389 | 35,873 | — | 66,196 | Receivables: | |||||||||||||||||||||||||||||||||||||||||||
Trade | — | 13,018 | 13,428 | 33,591 | — | 60,037 | ||||||||||||||||||||||||||||||||||||||||||||
Contractual third-party reclamation receivables | — | — | 44 | 8,443 | — | 8,487 | ||||||||||||||||||||||||||||||||||||||||||||
Contractual third-party reclamation receivables | — | — | 56 | 10,151 | — | 10,207 | ||||||||||||||||||||||||||||||||||||||||||||
Intercompany receivable/payable | (3,568 | ) | — | 4,384 | (33,681 | ) | 32,865 | — | ||||||||||||||||||||||||||||||||||||||||||
Intercompany receivable/payable | (8,002 | ) | — | 5,667 | (30,641 | ) | 32,976 | — | ||||||||||||||||||||||||||||||||||||||||||
Other | 95 | 210 | 2,974 | 1,831 | (24 | ) | 5,086 | |||||||||||||||||||||||||||||||||||||||||||
Other | 77 | — | 16,806 | 1,182 | (14,845 | ) | 3,220 | |||||||||||||||||||||||||||||||||||||||||||
(3,473 | ) | 13,144 | 24,791 | 12,466 | 32,841 | 79,769 | ||||||||||||||||||||||||||||||||||||||||||||
(7,925 | ) | 13,018 | 35,957 | 14,283 | 18,131 | 73,464 | ||||||||||||||||||||||||||||||||||||||||||||
Inventories | — | 6,161 | 16,077 | 17,735 | (1 | ) | 39,972 | |||||||||||||||||||||||||||||||||||||||||||
Inventories | — | 3,047 | 16,538 | 18,149 | — | 37,734 | ||||||||||||||||||||||||||||||||||||||||||||
Deferred income taxes | — | — | 870 | — | (870 | ) | — | |||||||||||||||||||||||||||||||||||||||||||
Other current assets | 739 | 298 | 5,550 | 9,917 | — | 16,504 | ||||||||||||||||||||||||||||||||||||||||||||
Restricted investments and bond collateral | — | 5,998 | — | — | — | 5,998 | ||||||||||||||||||||||||||||||||||||||||||||
Total current assets | 7,650 | 20,908 | 63,407 | 49,216 | 18,131 | 159,312 | ||||||||||||||||||||||||||||||||||||||||||||
Other current assets | 6,115 | 143 | 6,883 | 5,049 | — | 18,190 | ||||||||||||||||||||||||||||||||||||||||||||
Property, plant and equipment: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total current assets | 27,968 | 28,787 | 56,563 | 59,751 | 31,970 | 205,039 | Land and mineral rights | — | 1,395 | 91,741 | 168,605 | — | 261,741 | |||||||||||||||||||||||||||||||||||||
Property, plant and equipment: | Plant and equipment | 3,198 | 219,857 | 215,751 | 196,914 | — | 635,720 | |||||||||||||||||||||||||||||||||||||||||||
Land and mineral rights | — | 1,395 | 104,631 | 172,163 | (1 | ) | 278,188 | |||||||||||||||||||||||||||||||||||||||||||
3,198 | 221,252 | 307,492 | 365,519 | — | 897,461 | |||||||||||||||||||||||||||||||||||||||||||||
Plant and equipment | 3,939 | 220,872 | 229,998 | 202,886 | 1 | 657,696 | ||||||||||||||||||||||||||||||||||||||||||||
Less accumulated depreciation, depletion and amortization | 2,364 | 61,474 | 108,151 | 212,632 | — | 384,621 | ||||||||||||||||||||||||||||||||||||||||||||
3,939 | 222,267 | 334,629 | 375,049 | — | 935,884 | |||||||||||||||||||||||||||||||||||||||||||||
Net property, plant and equipment | 834 | 159,778 | 199,341 | 152,887 | — | 512,840 | ||||||||||||||||||||||||||||||||||||||||||||
Less accumulated depreciation, depletion and amortization | 2,705 | 71,653 | 132,189 | 239,302 | (1 | ) | 445,848 | |||||||||||||||||||||||||||||||||||||||||||
Advanced coal royalties | — | — | 500 | 3,816 | — | 4,316 | ||||||||||||||||||||||||||||||||||||||||||||
Net property, plant and equipment | 1,234 | 150,614 | 202,440 | 135,747 | 1 | 490,036 | ||||||||||||||||||||||||||||||||||||||||||||
Reclamation deposits | — | — | — | 72,718 | — | 72,718 | ||||||||||||||||||||||||||||||||||||||||||||
Advanced coal royalties | — | — | 3,000 | 4,311 | — | 7,311 | ||||||||||||||||||||||||||||||||||||||||||||
Restricted investments and bond collateral | 15,183 | 5,990 | 39,208 | 26,828 | — | 87,209 | ||||||||||||||||||||||||||||||||||||||||||||
Reclamation deposits | — | — | — | 74,921 | — | 74,921 | ||||||||||||||||||||||||||||||||||||||||||||
Contractual third-party reclamation receivables | — | — | 327 | 83,831 | — | 84,158 | ||||||||||||||||||||||||||||||||||||||||||||
Restricted investments and bond collateral | 15,134 | — | 36,619 | 17,482 | — | 69,235 | ||||||||||||||||||||||||||||||||||||||||||||
Intangible assets | — | 2,923 | — | 280 | — | 3,203 | ||||||||||||||||||||||||||||||||||||||||||||
Contractual third-party reclamation receivables | — | — | 293 | 88,010 | — | 88,303 | ||||||||||||||||||||||||||||||||||||||||||||
Investment in subsidiaries | 248,565 | — | (792 | ) | 3,770 | (251,543 | ) | — | ||||||||||||||||||||||||||||||||||||||||||
Intangible assets | — | 1,283 | — | 238 | (1 | ) | 1,520 | |||||||||||||||||||||||||||||||||||||||||||
Other assets | 10,267 | — | 635 | 3,457 | (2,000 | ) | 12,359 | |||||||||||||||||||||||||||||||||||||||||||
Investment in subsidiaries | 266,847 | — | — | 3,770 | (270,617 | ) | — | |||||||||||||||||||||||||||||||||||||||||||
Total assets | $ | 282,499 | $ | 189,599 | $ | 302,626 | $ | 396,803 | $ | (235,412 | ) | $ | 936,115 | |||||||||||||||||||||||||||||||||||||
Other assets | 8,636 | — | 586 | 3,098 | (2,000 | ) | 10,320 | |||||||||||||||||||||||||||||||||||||||||||
____________________ | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total assets | $ | 319,819 | $ | 180,684 | $ | 299,501 | $ | 387,328 | $ | (240,647 | ) | $ | 946,685 | (1) This table is presented for historical information and presents WML and its subsidiaries as non-guarantor subsidiaries. WML and its subsidiaries became additional guarantor subsidiaries effective on July 31, 2014. | ||||||||||||||||||||||||||||||||||||
____________________ | CONSOLIDATING BALANCE SHEETS (1) | |||||||||||||||||||||||||||||||||||||||||||||||||
(1) This table is presented for historical information and presents WML and its subsidiaries as non-guarantor subsidiaries. WML and its subsidiaries became additional guarantor subsidiaries effective on July 31, 2014. | December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||
CONSOLIDATING BALANCE SHEETS(1) | (In thousands) | |||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Liabilities and Shareholders’ Deficit | Parent/ | Co-Issuer | Guarantor | Non-Guarantor | Consolidating | Total | ||||||||||||||||||||||||||||||||||||||||||||
Issuer | Subsidiaries | Subsidiaries | Adjustments | |||||||||||||||||||||||||||||||||||||||||||||||
Liabilities and Shareholders’ Deficit | Parent/ | Co-Issuer | Guarantor | Non-Guarantor | Consolidating | Total | Current liabilities | |||||||||||||||||||||||||||||||||||||||||||
Issuer | Subsidiaries | Subsidiaries | Adjustments | Current installments of long-term debt | $ | (1,548 | ) | $ | — | $ | 1,939 | $ | 23,400 | $ | — | $ | 23,791 | |||||||||||||||||||||||||||||||||
Current liabilities | ||||||||||||||||||||||||||||||||||||||||||||||||||
Current installments of long-term debt | $ | 20,392 | $ | — | $ | 2,790 | $ | 21,161 | $ | — | $ | 44,343 | Accounts payable and accrued expenses: | |||||||||||||||||||||||||||||||||||||
Trade | 4,707 | 4,978 | 15,163 | 42,085 | (14,840 | ) | 52,093 | |||||||||||||||||||||||||||||||||||||||||||
Accounts payable and accrued expenses: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Trade | 4,122 | 10,119 | 12,522 | 30,743 | 1 | 57,507 | Production taxes | — | 3 | 10,014 | 23,211 | — | 33,228 | |||||||||||||||||||||||||||||||||||||
Production taxes | — | 3 | 17,429 | 24,472 | 1 | 41,905 | Workers’ compensation | 820 | — | — | — | — | 820 | |||||||||||||||||||||||||||||||||||||
Workers’ compensation | 717 | — | — | — | — | 717 | Postretirement medical benefits | 12,494 | — | 87 | 1,487 | — | 14,068 | |||||||||||||||||||||||||||||||||||||
Postretirement medical benefits | 12,042 | — | 329 | 1,583 | 1 | 13,955 | SERP | 390 | — | — | — | — | 390 | |||||||||||||||||||||||||||||||||||||
SERP | 390 | — | — | — | — | 390 | Deferred revenue | — | 8,788 | 2,997 | 1,037 | — | 12,822 | |||||||||||||||||||||||||||||||||||||
Deferred revenue | — | 9,024 | 3,969 | 1,075 | — | 14,068 | Asset retirement obligations | — | — | 3,519 | 18,719 | — | 22,238 | |||||||||||||||||||||||||||||||||||||
Asset retirement obligations | — | — | 3,104 | 20,250 | (1 | ) | 23,353 | Other current liabilities | 11,312 | — | 10 | 144 | (4 | ) | 11,462 | |||||||||||||||||||||||||||||||||||
Other current liabilities | 11,302 | 5,053 | 317 | 142 | (24 | ) | 16,790 | Total current liabilities | 28,175 | 13,769 | 33,729 | 110,083 | (14,844 | ) | 170,912 | |||||||||||||||||||||||||||||||||||
Total current liabilities | 48,965 | 24,199 | 40,460 | 99,426 | (22 | ) | 213,028 | Long-term debt, less current installments | 245,456 | — | 2,473 | 91,269 | (2,000 | ) | 337,198 | |||||||||||||||||||||||||||||||||||
Long-term debt, less current installments | 224,582 | — | 2,664 | 70,248 | (2,000 | ) | 295,494 | Workers’ compensation, less current portion | 8,710 | — | — | — | — | 8,710 | ||||||||||||||||||||||||||||||||||||
Workers’ compensation, less current portion | 6,744 | — | — | — | — | 6,744 | Excess of black lung benefit obligation over trust assets | 8,356 | — | — | — | — | 8,356 | |||||||||||||||||||||||||||||||||||||
Excess of black lung benefit obligation over trust assets | 8,675 | — | — | — | — | 8,675 | Postretirement medical benefits, less current portion | 224,336 | — | 55,981 | 39,458 | — | 319,775 | |||||||||||||||||||||||||||||||||||||
Postretirement medical benefits, less current portion | 185,858 | — | 49,418 | 35,098 | — | 270,374 | Pension and SERP obligations, less current portion | 29,265 | 289 | 19,346 | 5,350 | — | 54,250 | |||||||||||||||||||||||||||||||||||||
Pension and SERP obligations, less current portion | 13,069 | 99 | 9,381 | 1,627 | — | 24,176 | Deferred revenue, less current portion | — | 50,239 | — | 6,652 | — | 56,891 | |||||||||||||||||||||||||||||||||||||
Deferred revenue, less current portion | — | 41,297 | — | 5,271 | (1 | ) | 46,567 | Asset retirement obligations, less current portion | — | 829 | 40,063 | 200,717 | — | 241,609 | ||||||||||||||||||||||||||||||||||||
Asset retirement obligations, less current portion | — | 892 | 50,472 | 205,147 | — | 256,511 | Intangible liabilities | — | 6,625 | — | — | — | 6,625 | |||||||||||||||||||||||||||||||||||||
Intangible liabilities | — | 5,606 | — | — | — | 5,606 | Other liabilities | 701 | — | 15,677 | 1,642 | — | 18,020 | |||||||||||||||||||||||||||||||||||||
Other liabilities | 5,939 | — | 6,220 | 1,450 | (6,220 | ) | 7,389 | Intercompany receivable/payable | 23,731 | — | (7,972 | ) | 35,787 | (51,546 | ) | — | ||||||||||||||||||||||||||||||||||
Intercompany receivable/payable | 13,866 | — | 525 | 6,434 | (20,825 | ) | — | Total liabilities | 568,730 | 71,751 | 159,297 | 490,958 | (68,390 | ) | 1,222,346 | |||||||||||||||||||||||||||||||||||
Total liabilities | 507,698 | 72,093 | 159,140 | 424,701 | (29,068 | ) | 1,134,564 | Shareholders’ deficit | ||||||||||||||||||||||||||||||||||||||||||
Preferred stock | 160 | — | — | — | — | 160 | ||||||||||||||||||||||||||||||||||||||||||||
Shareholders’ deficit | ||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock | 160 | — | — | — | — | 160 | Common stock | 35,502 | 5 | 110 | 132 | (247 | ) | 35,502 | ||||||||||||||||||||||||||||||||||||
Common stock | 36,479 | 5 | 110 | 132 | (247 | ) | 36,479 | Other paid-in capital | 130,852 | 52,807 | 93,456 | 62,539 | (208,802 | ) | 130,852 | |||||||||||||||||||||||||||||||||||
Other paid-in capital | 134,861 | 52,835 | 94,370 | 64,401 | (211,606 | ) | 134,861 | Accumulated other comprehensive loss | (148,345 | ) | (372 | ) | (4,987 | ) | (24,492 | ) | 29,851 | (148,345 | ) | |||||||||||||||||||||||||||||||
Accumulated other comprehensive loss | (63,595 | ) | (164 | ) | 17,492 | (14,153 | ) | (3,175 | ) | (63,595 | ) | Accumulated earnings (deficit) | (289,727 | ) | 65,408 | 54,750 | (132,334 | ) | 12,176 | (289,727 | ) | |||||||||||||||||||||||||||||
Accumulated earnings (deficit) | (295,784 | ) | 55,915 | 28,389 | (87,753 | ) | 3,449 | (295,784 | ) | Total Westmoreland Coal Company shareholders’ deficit | (271,558 | ) | 117,848 | 143,329 | (94,155 | ) | (167,022 | ) | (271,558 | ) | ||||||||||||||||||||||||||||||
Total equity (deficit) | (187,879 | ) | 108,591 | 140,361 | (37,373 | ) | (211,579 | ) | (187,879 | ) | Noncontrolling interest | (14,673 | ) | — | — | — | — | (14,673 | ) | |||||||||||||||||||||||||||||||
Total liabilities and shareholders’ deficit | $ | 319,819 | $ | 180,684 | $ | 299,501 | $ | 387,328 | $ | (240,647 | ) | $ | 946,685 | Total equity (deficit) | (286,231 | ) | 117,848 | 143,329 | (94,155 | ) | (167,022 | ) | (286,231 | ) | ||||||||||||||||||||||||||
Total liabilities and shareholders’ deficit | $ | 282,499 | $ | 189,599 | $ | 302,626 | $ | 396,803 | $ | (235,412 | ) | $ | 936,115 | |||||||||||||||||||||||||||||||||||||
Supplemental Consolidating Statement of Operations Information | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
CONSOLIDATING STATEMENTS OF OPERATIONS(1) | CONSOLIDATING STATEMENTS OF OPERATIONS (1) | |||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, 2014 | Year Ended December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | (In thousands) | |||||||||||||||||||||||||||||||||||||||||||||||||
Parent/ | Co-Issuer | Guarantor | Non-Guarantor | Consolidating | Total | Parent/ | Co-Issuer | Guarantor | Non-Guarantor | Consolidating | Total | |||||||||||||||||||||||||||||||||||||||
Issuer | Subsidiaries | Subsidiaries | Adjustments | Issuer | Subsidiaries | Subsidiaries | Adjustments | |||||||||||||||||||||||||||||||||||||||||||
Revenues | $ | — | $ | 22,012 | $ | 64,292 | $ | 93,898 | $ | — | $ | 180,202 | Revenues | $ | — | $ | 87,567 | $ | 214,481 | $ | 414,085 | $ | (41,447 | ) | $ | 674,686 | ||||||||||||||||||||||||
Costs and expenses: | Costs and expenses: | |||||||||||||||||||||||||||||||||||||||||||||||||
Cost of sales | — | 16,454 | 50,558 | 71,618 | — | 138,630 | Cost of sales | — | 63,794 | 174,204 | 338,769 | (41,447 | ) | 535,320 | ||||||||||||||||||||||||||||||||||||
Depreciation, depletion and amortization | 76 | 2,524 | 6,269 | 7,190 | — | 16,059 | Depreciation, depletion and amortization | 354 | 10,178 | 27,452 | 29,247 | — | 67,231 | |||||||||||||||||||||||||||||||||||||
Selling and administrative | 3,746 | 894 | 2,994 | 5,697 | — | 13,331 | Selling and administrative | 12,339 | 3,609 | 11,092 | 23,681 | — | 50,721 | |||||||||||||||||||||||||||||||||||||
Heritage health benefit expenses | 3,326 | — | — | 218 | — | 3,544 | Heritage health benefit expenses | 12,361 | — | — | 1,057 | — | 13,418 | |||||||||||||||||||||||||||||||||||||
Loss (gain) on sales of assets | — | — | (1 | ) | 39 | — | 38 | Loss (gain) on sales of assets | — | — | 115 | (189 | ) | — | (74 | ) | ||||||||||||||||||||||||||||||||||
Restructuring charges | — | 397 | — | — | — | 397 | Restructuring charges | — | 5,078 | — | — | — | 5,078 | |||||||||||||||||||||||||||||||||||||
Other operating income | — | — | 150 | — | — | 150 | Other operating income | — | — | (22,367 | ) | (3 | ) | — | (22,370 | ) | ||||||||||||||||||||||||||||||||||
7,148 | 20,269 | 59,970 | 84,762 | — | 172,149 | 25,054 | 82,659 | 190,496 | 392,562 | (41,447 | ) | 649,324 | ||||||||||||||||||||||||||||||||||||||
Operating income (loss) | (7,148 | ) | 1,743 | 4,322 | 9,136 | — | 8,053 | Operating income (loss) | (25,054 | ) | 4,908 | 23,985 | 21,523 | — | 25,362 | |||||||||||||||||||||||||||||||||||
Other income (expense): | Other income (expense): | |||||||||||||||||||||||||||||||||||||||||||||||||
Interest expense | (18,673 | ) | (44 | ) | (110 | ) | (1,978 | ) | 7 | (20,798 | ) | Interest expense | (30,417 | ) | (39 | ) | (295 | ) | (9,221 | ) | 35 | (39,937 | ) | |||||||||||||||||||||||||||
Interest income | 123 | 4 | 25 | 157 | (7 | ) | 302 | Loss on extinguishment of debt | (64 | ) | — | — | — | — | (64 | ) | ||||||||||||||||||||||||||||||||||
Loss on foreign exchange | (6,790 | ) | — | — | — | — | (6,790 | ) | Interest income | 165 | 26 | 522 | 688 | (35 | ) | 1,366 | ||||||||||||||||||||||||||||||||||
Other income | 1 | — | 55 | 37 | — | 93 | Other income | 1 | — | 328 | 35 | — | 364 | |||||||||||||||||||||||||||||||||||||
(25,339 | ) | (40 | ) | (30 | ) | (1,784 | ) | — | (27,193 | ) | (30,315 | ) | (13 | ) | 555 | (8,498 | ) | — | (38,271 | ) | ||||||||||||||||||||||||||||||
Income (loss) before income taxes and income of consolidated subsidiaries | (32,487 | ) | 1,703 | 4,292 | 7,352 | — | (19,140 | ) | Income (loss) before income taxes and income of consolidated subsidiaries | (55,369 | ) | 4,895 | 24,540 | 13,025 | — | (12,909 | ) | |||||||||||||||||||||||||||||||||
Equity in income of subsidiaries | 13,319 | — | — | — | (13,319 | ) | — | Equity in income of subsidiaries | 42,347 | — | — | — | (42,347 | ) | — | |||||||||||||||||||||||||||||||||||
Income (loss) before income taxes | (19,168 | ) | 1,703 | 4,292 | 7,352 | (13,319 | ) | (19,140 | ) | Loss before income taxes | (13,022 | ) | 4,895 | 24,540 | 13,025 | (42,347 | ) | (12,909 | ) | |||||||||||||||||||||||||||||||
Income tax expense (benefit) | (138 | ) | — | (1,511 | ) | 6,626 | (5,087 | ) | (110 | ) | Income tax expense (benefit) | (4,895 | ) | 680 | 8,461 | (47 | ) | (8,981 | ) | (4,782 | ) | |||||||||||||||||||||||||||||
Net income (loss) | (19,030 | ) | 1,703 | 5,803 | 726 | (8,232 | ) | (19,030 | ) | Net income (loss) | (8,127 | ) | 4,215 | 16,079 | 13,072 | (33,366 | ) | (8,127 | ) | |||||||||||||||||||||||||||||||
Less net loss attributable to noncontrolling interest | — | — | — | — | — | — | Less net loss attributable to noncontrolling interest | (3,430 | ) | — | — | — | — | (3,430 | ) | |||||||||||||||||||||||||||||||||||
Net income (loss) attributable to the Parent company | $ | (19,030 | ) | $ | 1,703 | $ | 5,803 | $ | 726 | $ | (8,232 | ) | $ | (19,030 | ) | Net income (loss) attributable to the Parent company | $ | (4,697 | ) | $ | 4,215 | $ | 16,079 | $ | 13,072 | $ | (33,366 | ) | $ | (4,697 | ) | |||||||||||||||||||
____________________ | ____________________ | |||||||||||||||||||||||||||||||||||||||||||||||||
(1) This table is presented for historical information and presents WML and its subsidiaries as non-guarantor subsidiaries. WML and its subsidiaries became additional guarantor subsidiaries effective on July 31, 2014. | (1) This table is presented for historical information and presents WML and its subsidiaries as non-guarantor subsidiaries. WML and its subsidiaries became additional guarantor subsidiaries effective on July 31, 2014. | |||||||||||||||||||||||||||||||||||||||||||||||||
CONSOLIDATING STATEMENTS OF OPERATIONS(1) | CONSOLIDATING STATEMENTS OF OPERATIONS (1) | |||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, 2013 | Year Ended December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | (In thousands) | |||||||||||||||||||||||||||||||||||||||||||||||||
Parent/ | Co-Issuer | Guarantor | Non-Guarantor | Consolidating | Total | Parent/ | Co-Issuer | Guarantor | Non-Guarantor | Consolidating | Total | |||||||||||||||||||||||||||||||||||||||
Issuer | Subsidiaries | Subsidiaries | Adjustments | Issuer | Subsidiaries | Subsidiaries | Adjustments | |||||||||||||||||||||||||||||||||||||||||||
Revenues | $ | — | $ | 19,336 | $ | 50,687 | $ | 100,401 | $ | (8,976 | ) | $ | 161,448 | Revenues | $ | — | $ | 81,285 | $ | 184,506 | $ | 366,105 | $ | (31,459 | ) | $ | 600,437 | |||||||||||||||||||||||
Costs and expenses: | Costs and expenses: | |||||||||||||||||||||||||||||||||||||||||||||||||
Cost of sales | — | 16,954 | 40,421 | 82,022 | (8,976 | ) | 130,421 | Cost of sales | — | 59,299 | 134,683 | 303,998 | (31,459 | ) | 466,521 | |||||||||||||||||||||||||||||||||||
Depreciation, depletion and amortization | 94 | 2,531 | 5,189 | 6,612 | — | 14,426 | Depreciation, depletion and amortization | 421 | 10,085 | 19,571 | 27,068 | — | 57,145 | |||||||||||||||||||||||||||||||||||||
Selling and administrative | 3,054 | 855 | 2,637 | 5,341 | — | 11,887 | Selling and administrative | 13,748 | 3,657 | 9,993 | 24,037 | (1,527 | ) | 49,908 | ||||||||||||||||||||||||||||||||||||
Heritage health benefit expenses | 3,689 | — | — | 262 | — | 3,951 | Heritage health benefit expenses | 12,406 | — | — | 982 | — | 13,388 | |||||||||||||||||||||||||||||||||||||
Gain on sales of assets | — | — | (133 | ) | (101 | ) | — | (234 | ) | Loss on sales of assets | 13 | — | 251 | 264 | — | 528 | ||||||||||||||||||||||||||||||||||
Other operating income | — | — | (4,737 | ) | — | — | (4,737 | ) | Other operating income | — | — | (17,452 | ) | — | 1,527 | (15,925 | ) | |||||||||||||||||||||||||||||||||
6,837 | 20,340 | 43,377 | 94,136 | (8,976 | ) | 155,714 | 26,588 | 73,041 | 147,046 | 356,349 | (31,459 | ) | 571,565 | |||||||||||||||||||||||||||||||||||||
Operating income (loss) | (6,837 | ) | (1,004 | ) | 7,310 | 6,265 | — | 5,734 | Operating income (loss) | (26,588 | ) | 8,244 | 37,460 | 9,756 | — | 28,872 | ||||||||||||||||||||||||||||||||||
Other income (expense): | Other income (expense): | |||||||||||||||||||||||||||||||||||||||||||||||||
Interest expense | (7,584 | ) | (10 | ) | (74 | ) | (2,500 | ) | 8 | (10,160 | ) | Interest expense | (31,301 | ) | (39 | ) | (378 | ) | (11,039 | ) | 80 | (42,677 | ) | |||||||||||||||||||||||||||
Interest income | 30 | 10 | 44 | 221 | (8 | ) | 297 | Loss on extinguishment of debt | (1,986 | ) | — | — | — | — | (1,986 | ) | ||||||||||||||||||||||||||||||||||
Other income (loss) | — | — | 92 | (22 | ) | — | 70 | Interest income | 253 | 15 | 294 | 1,014 | (80 | ) | 1,496 | |||||||||||||||||||||||||||||||||||
(7,554 | ) | — | 62 | (2,301 | ) | — | (9,793 | ) | Other income | 190 | — | 395 | 138 | — | 723 | |||||||||||||||||||||||||||||||||||
Income (loss) before income taxes and income of consolidated subsidiaries | (14,391 | ) | (1,004 | ) | 7,372 | 3,964 | — | (4,059 | ) | (32,844 | ) | (24 | ) | 311 | (9,887 | ) | — | (42,444 | ) | |||||||||||||||||||||||||||||||
Equity in income of subsidiaries | 10,304 | — | — | — | (10,304 | ) | — | Income (loss) before income taxes and income of consolidated subsidiaries | (59,432 | ) | 8,220 | 37,771 | (131 | ) | — | (13,572 | ) | |||||||||||||||||||||||||||||||||
Income (loss) before income taxes | (4,087 | ) | (1,004 | ) | 7,372 | 3,964 | (10,304 | ) | (4,059 | ) | Equity in income of subsidiaries | 45,762 | — | — | — | (45,762 | ) | — | ||||||||||||||||||||||||||||||||
Income tax expense (benefit) | — | — | 496 | 2,823 | (3,291 | ) | 28 | Income (loss) before income taxes | (13,670 | ) | 8,220 | 37,771 | (131 | ) | (45,762 | ) | (13,572 | ) | ||||||||||||||||||||||||||||||||
Net income (loss) | (4,087 | ) | (1,004 | ) | 6,876 | 1,141 | (7,013 | ) | (4,087 | ) | Income tax expense (benefit) | (8 | ) | 107 | — | 4,410 | (4,419 | ) | 90 | |||||||||||||||||||||||||||||||
Less net loss attributable to noncontrolling interest | (1,702 | ) | — | — | — | — | (1,702 | ) | Net income (loss) | (13,662 | ) | 8,113 | 37,771 | (4,541 | ) | (41,343 | ) | (13,662 | ) | |||||||||||||||||||||||||||||||
Net income (loss) attributable to the Parent company | $ | (2,385 | ) | $ | (1,004 | ) | $ | 6,876 | $ | 1,141 | $ | (7,013 | ) | $ | (2,385 | ) | Less net loss attributable to noncontrolling interest | (6,436 | ) | — | — | — | — | (6,436 | ) | |||||||||||||||||||||||||
Net income (loss) attributable to the Parent company | $ | (7,226 | ) | $ | 8,113 | $ | 37,771 | $ | (4,541 | ) | $ | (41,343 | ) | $ | (7,226 | ) | ||||||||||||||||||||||||||||||||||
____________________ | ||||||||||||||||||||||||||||||||||||||||||||||||||
(1) This table is presented for historical information and presents WML and its subsidiaries as non-guarantor subsidiaries. WML and its subsidiaries became additional guarantor subsidiaries effective on July 31, 2014. | ||||||||||||||||||||||||||||||||||||||||||||||||||
CONSOLIDATING STATEMENTS OF OPERATIONS (1) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Year Ended December 31, 2011 | ||||||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Parent/ | Co-Issuer | Guarantor | Non-Guarantor | Consolidating | Total | |||||||||||||||||||||||||||||||||||||||||||||
Issuer | Subsidiaries | Subsidiaries | Adjustments | |||||||||||||||||||||||||||||||||||||||||||||||
Revenues | $ | — | $ | 86,785 | $ | 58,544 | $ | 411,908 | $ | (55,524 | ) | $ | 501,713 | |||||||||||||||||||||||||||||||||||||
Costs and expenses: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Cost of sales | — | 60,243 | 49,439 | 338,629 | (55,524 | ) | 392,787 | |||||||||||||||||||||||||||||||||||||||||||
Depreciation, depletion and amortization | 306 | 10,175 | 7,936 | 27,177 | — | 45,594 | ||||||||||||||||||||||||||||||||||||||||||||
Selling and administrative | 10,616 | 4,059 | 4,566 | 21,508 | (473 | ) | 40,276 | |||||||||||||||||||||||||||||||||||||||||||
Heritage health benefit expenses | 17,754 | — | — | 821 | — | 18,575 | ||||||||||||||||||||||||||||||||||||||||||||
Gain (loss) on sales of assets | 3 | 189 | 59 | 389 | — | 640 | ||||||||||||||||||||||||||||||||||||||||||||
Other operating income | — | — | (7,258 | ) | — | 473 | (6,785 | ) | ||||||||||||||||||||||||||||||||||||||||||
28,679 | 74,666 | 54,742 | 388,524 | (55,524 | ) | 491,087 | ||||||||||||||||||||||||||||||||||||||||||||
Operating income (loss) | (28,679 | ) | 12,119 | 3,802 | 23,384 | — | 10,626 | |||||||||||||||||||||||||||||||||||||||||||
Other income (expense): | ||||||||||||||||||||||||||||||||||||||||||||||||||
Interest expense | (16,365 | ) | (469 | ) | (657 | ) | (12,370 | ) | 92 | (29,769 | ) | |||||||||||||||||||||||||||||||||||||||
Loss on extinguishment of debt | (7,873 | ) | (9,073 | ) | (84 | ) | — | — | (17,030 | ) | ||||||||||||||||||||||||||||||||||||||||
Interest income | 266 | 14 | 206 | 1,050 | (92 | ) | 1,444 | |||||||||||||||||||||||||||||||||||||||||||
Other income (loss) | (3,014 | ) | — | 170 | 272 | — | (2,572 | ) | ||||||||||||||||||||||||||||||||||||||||||
(26,986 | ) | (9,528 | ) | (365 | ) | (11,048 | ) | — | (47,927 | ) | ||||||||||||||||||||||||||||||||||||||||
Loss before income taxes and income of consolidated subsidiaries | (55,665 | ) | 2,591 | 3,437 | 12,336 | — | (37,301 | ) | ||||||||||||||||||||||||||||||||||||||||||
Equity in income of subsidiaries | 18,508 | — | — | — | (18,508 | ) | — | |||||||||||||||||||||||||||||||||||||||||||
Loss before income taxes | (37,157 | ) | 2,591 | 3,437 | 12,336 | (18,508 | ) | (37,301 | ) | |||||||||||||||||||||||||||||||||||||||||
Income tax expense (benefit) | (282 | ) | (2,498 | ) | (26 | ) | 7,263 | (4,883 | ) | (426 | ) | |||||||||||||||||||||||||||||||||||||||
Net income (loss) | (36,875 | ) | 5,089 | 3,463 | 5,073 | (13,625 | ) | (36,875 | ) | |||||||||||||||||||||||||||||||||||||||||
Less net loss attributable to noncontrolling interest | (3,775 | ) | — | — | — | — | (3,775 | ) | ||||||||||||||||||||||||||||||||||||||||||
Net loss attributable to the Parent company | $ | (33,100 | ) | $ | 5,089 | $ | 3,463 | $ | 5,073 | $ | (13,625 | ) | $ | (33,100 | ) | |||||||||||||||||||||||||||||||||||
Supplemental Consolidating Statements of Comprehensive Income (Loss) | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)(1) | CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (1) | |||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, 2014 | Year Ended December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | (In thousands) | |||||||||||||||||||||||||||||||||||||||||||||||||
Parent/Issuer | Co-Issuer | Guarantor | Non-Guarantor | Consolidating | Total | Parent/Issuer | Co-Issuer | Guarantor | Non-Guarantor | Consolidating | Total | |||||||||||||||||||||||||||||||||||||||
Subsidiaries | Subsidiaries | Adjustments | Subsidiaries | Subsidiaries | Adjustments | |||||||||||||||||||||||||||||||||||||||||||||
Net income (loss) | $ | (19,030 | ) | $ | 1,703 | $ | 5,803 | $ | 726 | $ | (8,232 | ) | $ | (19,030 | ) | |||||||||||||||||||||||||||||||||||
Net income (loss) | $ | (8,127 | ) | $ | 4,215 | $ | 16,079 | $ | 13,072 | $ | (33,366 | ) | $ | (8,127 | ) | |||||||||||||||||||||||||||||||||||
Other comprehensive income (loss) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of accumulated actuarial gains or losses, pension | 359 | 2 | — | 128 | (130 | ) | 359 | Other comprehensive income (loss) | ||||||||||||||||||||||||||||||||||||||||||
Amortization of accumulated actuarial gains or losses, pension | 3,490 | 28 | — | 863 | (891 | ) | 3,490 | |||||||||||||||||||||||||||||||||||||||||||
Amortization of accumulated actuarial gains or losses, transition obligations, and prior service costs, postretirement medical benefit | 5 | — | (119 | ) | 88 | 31 | 5 | |||||||||||||||||||||||||||||||||||||||||||
Adjustments to accumulated actuarial losses and transition obligations, pension | 28,974 | 180 | 10,554 | 3,252 | (13,986 | ) | 28,974 | |||||||||||||||||||||||||||||||||||||||||||
Tax effect of other comprehensive income gains | (138 | ) | — | — | — | — | (138 | ) | ||||||||||||||||||||||||||||||||||||||||||
Amortization of accumulated actuarial gains or losses, transition obligations, and prior service costs, postretirement medical benefit | 4,005 | — | — | 852 | (852 | ) | 4,005 | |||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income (loss) | 226 | 2 | (119 | ) | 216 | (99 | ) | 226 | ||||||||||||||||||||||||||||||||||||||||||
Adjustments to accumulated actuarial gains and transition obligations, postretirement medical benefits | 53,230 | — | 11,941 | 5,411 | (17,352 | ) | 53,230 | |||||||||||||||||||||||||||||||||||||||||||
Comprehensive income (loss) attributable to the Parent company | $ | (18,804 | ) | $ | 1,705 | $ | 5,684 | $ | 942 | $ | (8,331 | ) | $ | (18,804 | ) | |||||||||||||||||||||||||||||||||||
Tax effect of other comprehensive income gains | (4,892 | ) | — | — | — | — | (4,892 | ) | ||||||||||||||||||||||||||||||||||||||||||
____________________ | ||||||||||||||||||||||||||||||||||||||||||||||||||
(1) This table is presented for historical information and presents WML and its subsidiaries as non-guarantor subsidiaries. WML and its subsidiaries became additional guarantor subsidiaries effective on July 31, 2014. | Unrealized and realized gains and losses on available-for-sale securities | (57 | ) | — | (17 | ) | (38 | ) | 55 | (57 | ) | |||||||||||||||||||||||||||||||||||||||
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)(1) | Other comprehensive income | 84,750 | 208 | 22,478 | 10,340 | (33,026 | ) | 84,750 | ||||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | Comprehensive income attributable to Westmoreland Coal Company | $ | 76,623 | $ | 4,423 | $ | 38,557 | $ | 23,412 | $ | (66,392 | ) | $ | 76,623 | ||||||||||||||||||||||||||||||||||||
____________________ | ||||||||||||||||||||||||||||||||||||||||||||||||||
Parent/Issuer | Co-Issuer | Guarantor | Non-Guarantor | Consolidating | Total | (1) This table is presented for historical information and presents WML and its subsidiaries as non-guarantor subsidiaries. WML and its subsidiaries became additional guarantor subsidiaries effective on July 31, 2014. | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries | Subsidiaries | Adjustments | ||||||||||||||||||||||||||||||||||||||||||||||||
Net income (loss) | $ | (4,087 | ) | $ | (1,004 | ) | $ | 6,876 | $ | 1,141 | $ | (7,013 | ) | $ | (4,087 | ) | ||||||||||||||||||||||||||||||||||
Other comprehensive income (loss) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of accumulated actuarial gains or losses, pension | 741 | 6 | — | 193 | (199 | ) | 741 | CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (1) | ||||||||||||||||||||||||||||||||||||||||||
Year Ended December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of accumulated actuarial gains or losses, transition obligations, and prior service costs, postretirement medical benefit | 1,001 | — | — | 213 | (213 | ) | 1,001 | (In thousands) | ||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income (loss) | 1,742 | 6 | — | 406 | (412 | ) | 1,742 | |||||||||||||||||||||||||||||||||||||||||||
Comprehensive income (loss) attributable to the Parent company | $ | (2,345 | ) | $ | (998 | ) | $ | 6,876 | $ | 1,547 | $ | (7,425 | ) | $ | (2,345 | ) | Parent/Issuer | Co-Issuer | Guarantor | Non-Guarantor | Consolidating | Total | ||||||||||||||||||||||||||||
Subsidiaries | Subsidiaries | Adjustments | ||||||||||||||||||||||||||||||||||||||||||||||||
Net income (loss) | $ | (13,662 | ) | $ | 8,113 | $ | 37,771 | $ | (4,541 | ) | $ | (41,343 | ) | $ | (13,662 | ) | ||||||||||||||||||||||||||||||||||
Other comprehensive income (loss) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of accumulated actuarial gains or losses, pension | 2,960 | 23 | — | 766 | (789 | ) | 2,960 | |||||||||||||||||||||||||||||||||||||||||||
Adjustments to accumulated actuarial losses and transition obligations, pension | (9,812 | ) | (52 | ) | (3,034 | ) | (2,132 | ) | 5,218 | (9,812 | ) | |||||||||||||||||||||||||||||||||||||||
Amortization of accumulated actuarial gains or losses, transition obligations, and prior service costs, postretirement medical benefit | 2,572 | — | — | 973 | (973 | ) | 2,572 | |||||||||||||||||||||||||||||||||||||||||||
Adjustments to accumulated actuarial gains and transition obligations, postretirement medical benefits | (22,342 | ) | — | (1,969 | ) | (865 | ) | 2,834 | (22,342 | ) | ||||||||||||||||||||||||||||||||||||||||
Unrealized and realized gains and losses on available-for-sale securities | (268 | ) | — | 1 | (65 | ) | 64 | (268 | ) | |||||||||||||||||||||||||||||||||||||||||
Other comprehensive income | (26,890 | ) | (29 | ) | (5,002 | ) | (1,323 | ) | 6,354 | (26,890 | ) | |||||||||||||||||||||||||||||||||||||||
Comprehensive income (loss) attributable to Westmoreland Coal Company | $ | (40,552 | ) | $ | 8,084 | $ | 32,769 | $ | (5,864 | ) | $ | (34,989 | ) | $ | (40,552 | ) | ||||||||||||||||||||||||||||||||||
____________________ | ||||||||||||||||||||||||||||||||||||||||||||||||||
(1) This table is presented for historical information and presents WML and its subsidiaries as non-guarantor subsidiaries. WML and its subsidiaries became additional guarantor subsidiaries effective on July 31, 2014. | ||||||||||||||||||||||||||||||||||||||||||||||||||
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (1) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Year Ended December 31, 2011 | ||||||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Parent/Issuer | Co-Issuer | Guarantor | Non-Guarantor | Consolidating | Total | |||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries | Subsidiaries | Adjustments | ||||||||||||||||||||||||||||||||||||||||||||||||
Net income (loss) | $ | (36,875 | ) | $ | 5,089 | $ | 3,463 | $ | 5,073 | $ | (13,625 | ) | $ | (36,875 | ) | |||||||||||||||||||||||||||||||||||
Other comprehensive income (loss) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of accumulated actuarial gains or losses, pension | 1,647 | 9 | — | 702 | (711 | ) | 1,647 | |||||||||||||||||||||||||||||||||||||||||||
Adjustments to accumulated actuarial losses and transition obligations, pension | (15,798 | ) | (150 | ) | — | (444 | ) | 594 | (15,798 | ) | ||||||||||||||||||||||||||||||||||||||||
Amortization of accumulated actuarial gains or losses, transition obligations, and prior service costs, postretirement medical benefit | (288 | ) | — | — | 295 | (295 | ) | (288 | ) | |||||||||||||||||||||||||||||||||||||||||
Adjustments to accumulated actuarial gains and transition obligations, postretirement medical benefits | (49,136 | ) | — | — | (9,269 | ) | 9,269 | (49,136 | ) | |||||||||||||||||||||||||||||||||||||||||
Unrealized and realized gains and losses on available-for-sale securities | (200 | ) | — | (103 | ) | (100 | ) | 203 | (200 | ) | ||||||||||||||||||||||||||||||||||||||||
Other comprehensive income | (63,775 | ) | (141 | ) | (103 | ) | (8,816 | ) | 9,060 | (63,775 | ) | |||||||||||||||||||||||||||||||||||||||
Comprehensive income (loss) attributable to Westmoreland Coal Company | $ | (100,650 | ) | $ | 4,948 | $ | 3,360 | $ | (3,743 | ) | $ | (4,565 | ) | $ | (100,650 | ) | ||||||||||||||||||||||||||||||||||
____________________ | ||||||||||||||||||||||||||||||||||||||||||||||||||
(1) This table is presented for historical information and presents WML and its subsidiaries as non-guarantor subsidiaries. WML and its subsidiaries became additional guarantor subsidiaries effective on July 31, 2014. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Supplemental Consolidating Statement of Cash Flow Information | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
CONSOLIDATING STATEMENTS OF CASH FLOWS(1) | CONSOLIDATING STATEMENTS OF CASH FLOWS (1) | |||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, 2014 | Year Ended December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | (In thousands) | |||||||||||||||||||||||||||||||||||||||||||||||||
Statements of Cash Flows | Parent/ | Co-Issuer | Guarantor | Non-Guarantor | Consolidating | Total | Statements of Cash Flows | Parent/ | Co-Issuer | Guarantor | Non-Guarantor | Consolidating | Total | |||||||||||||||||||||||||||||||||||||
Issuer | Subsidiaries | Subsidiaries | Adjustments | Issuer | Subsidiaries | Subsidiaries | Adjustments | |||||||||||||||||||||||||||||||||||||||||||
Cash flows from operating activities: | Cash flows from operating activities: | |||||||||||||||||||||||||||||||||||||||||||||||||
Net income (loss) | $ | (19,030 | ) | $ | 1,703 | $ | 5,803 | $ | 726 | $ | (8,232 | ) | $ | (19,030 | ) | Net income (loss) | $ | (8,127 | ) | $ | 4,215 | $ | 16,079 | $ | 13,072 | $ | (33,366 | ) | $ | (8,127 | ) | |||||||||||||||||||
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||||||||||||||||||||||||||||||||||||||||||||||||
Equity in income of subsidiaries | (13,319 | ) | — | — | — | 13,319 | — | Equity in income of subsidiaries | (42,347 | ) | — | — | — | 42,347 | — | |||||||||||||||||||||||||||||||||||
Depreciation, depletion, and amortization | 76 | 2,524 | 6,269 | 7,190 | — | 16,059 | Depreciation, depletion, and amortization | 354 | 10,178 | 27,452 | 29,247 | — | 67,231 | |||||||||||||||||||||||||||||||||||||
Accretion of asset retirement obligation and receivable | — | 18 | 1,278 | 2,183 | — | 3,479 | Accretion of asset retirement obligation and receivable | — | 63 | 4,192 | 8,426 | — | 12,681 | |||||||||||||||||||||||||||||||||||||
Non-cash tax benefits | (138 | ) | — | — | — | — | (138 | ) | Non-cash tax benefits | (4,892 | ) | — | — | — | — | (4,892 | ) | |||||||||||||||||||||||||||||||||
Amortization of intangible assets and liabilities, net | — | 146 | — | 7 | — | 153 | Amortization of intangible assets and liabilities, net | — | 622 | — | 43 | — | 665 | |||||||||||||||||||||||||||||||||||||
Share-based compensation | 569 | 7 | 37 | 115 | — | 728 | Share-based compensation | 2,437 | 37 | 914 | 1,934 | — | 5,322 | |||||||||||||||||||||||||||||||||||||
Loss (gain) on sales of assets | — | — | (1 | ) | 39 | — | 38 | Loss on sale of assets | — | — | 115 | (189 | ) | — | (74 | ) | ||||||||||||||||||||||||||||||||||
Amortization of deferred financing costs | 149 | — | — | 122 | — | 271 | Amortization of deferred financing costs | 3,165 | — | 49 | 517 | — | 3,731 | |||||||||||||||||||||||||||||||||||||
Loss on foreign exchange | 6,790 | — | — | — | — | 6,790 | Other | — | — | (1,001 | ) | — | — | (1,001 | ) | |||||||||||||||||||||||||||||||||||
Changes in operating assets and liabilities: | Loss on extinguishment of debt | 64 | — | — | — | — | 64 | |||||||||||||||||||||||||||||||||||||||||||
Receivables, net | (178 | ) | 480 | (2,738 | ) | 6,104 | 1,534 | 5,202 | ||||||||||||||||||||||||||||||||||||||||||
Gain on sales of investments | — | — | 19 | (22 | ) | — | (3 | ) | ||||||||||||||||||||||||||||||||||||||||||
Inventories | — | 4,316 | 944 | (735 | ) | — | 4,525 | |||||||||||||||||||||||||||||||||||||||||||
Changes in operating assets and liabilities: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Excess of black lung benefit obligation over trust assets | 701 | — | — | — | — | 701 | Receivables, net | (18 | ) | (126 | ) | 9,871 | (4,069 | ) | (13,294 | ) | (7,636 | ) | ||||||||||||||||||||||||||||||||
Accounts payable and accrued expenses | 5,670 | (3,386 | ) | 7,356 | 1,327 | (8 | ) | 10,959 | Inventories | — | (3,114 | ) | 187 | 415 | — | (2,512 | ) | |||||||||||||||||||||||||||||||||
Deferred revenue | — | (2,415 | ) | 844 | 269 | — | (1,302 | ) | Excess of black lung benefit obligation over trust assets | 319 | — | — | — | — | 319 | |||||||||||||||||||||||||||||||||||
Income tax payable | — | — | — | 28 | — | 28 | Accounts payable and accrued expenses | (613 | ) | 5,141 | 4,082 | (9,852 | ) | 14,821 | 13,579 | |||||||||||||||||||||||||||||||||||
Accrual for workers’ compensation | (69 | ) | — | — | — | — | (69 | ) | Deferred revenue | — | (8,706 | ) | 972 | (1,344 | ) | — | (9,078 | ) | ||||||||||||||||||||||||||||||||
Asset retirement obligations | — | — | (9 | ) | (1,343 | ) | — | (1,352 | ) | Income tax payable | — | — | (1,679 | ) | 1,678 | — | (1 | ) | ||||||||||||||||||||||||||||||||
Accrual for postretirement medical benefits | (374 | ) | — | 935 | 345 | — | 906 | Accrual for workers’ compensation | (2,069 | ) | — | — | — | — | (2,069 | ) | ||||||||||||||||||||||||||||||||||
Pension and SERP obligations | 83 | 1 | 113 | (490 | ) | — | (293 | ) | Asset retirement obligations | — | — | (1,971 | ) | (7,439 | ) | — | (9,410 | ) | ||||||||||||||||||||||||||||||||
Other assets and liabilities | (183 | ) | (309 | ) | (1,616 | ) | (2,880 | ) | 6,981 | 1,993 | Accrual for postretirement medical benefits | 101 | — | 5,620 | 2,000 | — | 7,721 | |||||||||||||||||||||||||||||||||
Distributions received from subsidiaries | 42,500 | — | — | — | (42,500 | ) | — | Pension and SERP obligations | 1,391 | 18 | 589 | 390 | — | 2,388 | ||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) operating activities | 23,247 | 3,085 | 19,215 | 13,007 | (28,906 | ) | 29,648 | Other assets and liabilities | (144 | ) | 4,983 | 8,206 | 4,124 | (5,350 | ) | 11,819 | ||||||||||||||||||||||||||||||||||
Cash flows from investing activities: | Distributions received from subsidiaries | 78,000 | — | — | — | (78,000 | ) | — | ||||||||||||||||||||||||||||||||||||||||||
Additions to property, plant and equipment | 38 | (35 | ) | (2,609 | ) | (444 | ) | — | (3,050 | ) | ||||||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) operating activities | 27,621 | 13,311 | 73,696 | 38,931 | (72,842 | ) | 80,717 | |||||||||||||||||||||||||||||||||||||||||||
Change in restricted investments and bond collateral and reclamation deposits | (471,151 | ) | 5,998 | 4 | (395 | ) | — | (465,544 | ) | |||||||||||||||||||||||||||||||||||||||||
Cash flows from investing activities: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Additions to property, plant and equipment | (737 | ) | (790 | ) | (17,156 | ) | (9,908 | ) | — | (28,591 | ) | |||||||||||||||||||||||||||||||||||||||
Receivable from customer for property and equipment purchases | — | — | — | (10 | ) | — | (10 | ) | Change in restricted investments and bond collateral and reclamation deposits | 49 | (8 | ) | 1,766 | (373 | ) | — | 1,434 | |||||||||||||||||||||||||||||||||
Other | — | — | — | (60 | ) | — | (60 | ) | Net proceeds from sales of assets | — | — | 534 | 368 | — | 902 | |||||||||||||||||||||||||||||||||||
Net cash provided by (used in) investing activities | (471,113 | ) | 5,963 | (2,605 | ) | (909 | ) | — | (468,664 | ) | ||||||||||||||||||||||||||||||||||||||||
Cash flows from financing activities: | Proceeds from the sale of restricted investments | — | — | 788 | 7,499 | — | 8,287 | |||||||||||||||||||||||||||||||||||||||||||
Change in book overdrafts | — | — | (317 | ) | 2 | — | (315 | ) | ||||||||||||||||||||||||||||||||||||||||||
Receivable from customer for property and equipment purchases | — | — | — | (389 | ) | — | (389 | ) | ||||||||||||||||||||||||||||||||||||||||||
Borrowings from long-term debt | 454,219 | — | — | — | — | 454,219 | ||||||||||||||||||||||||||||||||||||||||||||
Other | — | — | (2,500 | ) | (1,040 | ) | — | (3,540 | ) | |||||||||||||||||||||||||||||||||||||||||
Repayments of long-term debt | — | — | (875 | ) | (5,364 | ) | — | (6,239 | ) | |||||||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) investing activities | (688 | ) | (798 | ) | (16,568 | ) | (3,843 | ) | — | (21,897 | ) | |||||||||||||||||||||||||||||||||||||||
Debt issuance costs and other refinancing costs | (7,598 | ) | — | — | — | — | (7,598 | ) | ||||||||||||||||||||||||||||||||||||||||||
Cash flows from financing activities: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Dividends/distributions | (261 | ) | (8,500 | ) | (18,000 | ) | (16,000 | ) | 42,500 | (261 | ) | Change in book overdrafts | — | — | 310 | — | — | 310 | ||||||||||||||||||||||||||||||||
Transactions with Parent/affiliates | 4,939 | 154 | 3,434 | 5,067 | (13,594 | ) | — | Repayments of long-term debt | (500 | ) | — | (2,322 | ) | (25,266 | ) | — | (28,088 | ) | ||||||||||||||||||||||||||||||||
Net cash provided by (used in) financing activities | 451,299 | (8,346 | ) | (15,758 | ) | (16,295 | ) | 28,906 | 439,806 | Borrowings on revolving lines of credit | — | — | — | 7,000 | — | 7,000 | ||||||||||||||||||||||||||||||||||
Net increase (decrease) in cash and cash equivalents | 3,433 | 702 | 852 | (4,197 | ) | — | 790 | Repayments on revolving lines of credit | — | — | — | (7,000 | ) | — | (7,000 | ) | ||||||||||||||||||||||||||||||||||
Cash and cash equivalents, beginning of period | 25,326 | 3,341 | 7,942 | 24,501 | — | 61,110 | Debt issuance costs and other refinancing costs | (26 | ) | — | — | (156 | ) | — | (182 | ) | ||||||||||||||||||||||||||||||||||
Cash and cash equivalents, end of period | $ | 28,759 | $ | 4,043 | $ | 8,794 | $ | 20,304 | $ | — | $ | 61,900 | Dividends/distributions | (1,360 | ) | (14,500 | ) | (44,500 | ) | (19,000 | ) | 78,000 | (1,360 | ) | ||||||||||||||||||||||||||
____________________ | Transactions with Parent/affiliates | (14,557 | ) | 783 | (8,036 | ) | 26,968 | (5,158 | ) | — | ||||||||||||||||||||||||||||||||||||||||
(1) This table is presented for historical information and presents WML and its subsidiaries as non-guarantor subsidiaries. WML and its subsidiaries became additional guarantor subsidiaries effective on July 31, 2014. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) financing activities | (16,443 | ) | (13,717 | ) | (54,548 | ) | (17,454 | ) | 72,842 | (29,320 | ) | |||||||||||||||||||||||||||||||||||||||
CONSOLIDATING STATEMENTS OF CASH FLOWS(1) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, 2013 | Net increase (decrease) in cash and cash equivalents | 10,490 | (1,204 | ) | 2,580 | 17,634 | — | 29,500 | ||||||||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents, beginning of year | 14,836 | 4,545 | 5,362 | 6,867 | — | 31,610 | ||||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents, end of year | $ | 25,326 | $ | 3,341 | $ | 7,942 | $ | 24,501 | $ | — | $ | 61,110 | ||||||||||||||||||||||||||||||||||||||
Statements of Cash Flows | Parent/ | Co-Issuer | Guarantor | Non-Guarantor | Consolidating | Total | ||||||||||||||||||||||||||||||||||||||||||||
Issuer | Subsidiaries | Subsidiaries | Adjustments | ____________________ | ||||||||||||||||||||||||||||||||||||||||||||||
Cash flows from operating activities: | (1) This table is presented for historical information and presents WML and its subsidiaries as non-guarantor subsidiaries. WML and its subsidiaries became additional guarantor subsidiaries effective on July 31, 2014. | |||||||||||||||||||||||||||||||||||||||||||||||||
Net income (loss) | $ | (4,087 | ) | $ | (1,004 | ) | $ | 6,876 | $ | 1,141 | $ | (7,013 | ) | $ | (4,087 | ) | ||||||||||||||||||||||||||||||||||
CONSOLIDATING STATEMENTS OF CASH FLOWS (1) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | Year Ended December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||
Equity in income of subsidiaries | (10,304 | ) | — | — | — | 10,304 | — | (In thousands) | ||||||||||||||||||||||||||||||||||||||||||
Depreciation, depletion, and amortization | 94 | 2,531 | 5,189 | 6,612 | — | 14,426 | ||||||||||||||||||||||||||||||||||||||||||||
Accretion of asset retirement obligation and receivable | — | 16 | 1,050 | 2,114 | — | 3,180 | Statements of Cash Flows | Parent/ | Co-Issuer | Guarantor | Non-Guarantor | Consolidating | Total | |||||||||||||||||||||||||||||||||||||
Issuer | Subsidiaries | Subsidiaries | Adjustments | |||||||||||||||||||||||||||||||||||||||||||||||
Amortization of intangible assets and liabilities, net | — | 156 | — | 8 | — | 164 | Cash flows from operating activities: | |||||||||||||||||||||||||||||||||||||||||||
Net income (loss) | $ | (13,662 | ) | $ | 8,113 | $ | 37,771 | $ | (4,541 | ) | $ | (41,343 | ) | $ | (13,662 | ) | ||||||||||||||||||||||||||||||||||
Share-based compensation | 682 | 10 | 681 | 1,013 | — | 2,386 | ||||||||||||||||||||||||||||||||||||||||||||
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Gain on sales of assets | — | — | (133 | ) | (101 | ) | — | (234 | ) | Equity in income of subsidiaries | (45,762 | ) | — | — | — | 45,762 | — | |||||||||||||||||||||||||||||||||
Amortization of deferred financing costs | 771 | — | 13 | 149 | — | 933 | Depreciation, depletion, and amortization | 421 | 10,085 | 19,571 | 27,068 | — | 57,145 | |||||||||||||||||||||||||||||||||||||
Loss on sales of investment securities | — | — | 7 | — | — | 7 | Accretion of asset retirement obligation and receivable | — | 59 | 4,038 | 8,092 | — | 12,189 | |||||||||||||||||||||||||||||||||||||
Changes in operating assets and liabilities: | Amortization of intangible assets and liabilities, net | — | 622 | — | 36 | — | 658 | |||||||||||||||||||||||||||||||||||||||||||
Receivables, net | 49 | 2,885 | (2,467 | ) | (3,355 | ) | 3,008 | 120 | ||||||||||||||||||||||||||||||||||||||||||
Share-based compensation | 2,716 | 44 | 559 | 2,721 | — | 6,040 | ||||||||||||||||||||||||||||||||||||||||||||
Inventories | — | (2,181 | ) | (753 | ) | 247 | — | (2,687 | ) | |||||||||||||||||||||||||||||||||||||||||
Loss (gain) on sale of assets | 13 | — | 251 | 264 | — | 528 | ||||||||||||||||||||||||||||||||||||||||||||
Excess of black lung benefit obligation over trust assets | 83 | — | — | — | — | 83 | ||||||||||||||||||||||||||||||||||||||||||||
Amortization of deferred financing costs | 2,889 | — | 847 | 622 | — | 4,358 | ||||||||||||||||||||||||||||||||||||||||||||
Accounts payable and accrued expenses | (8,202 | ) | 5,960 | (10 | ) | 6,979 | (1,482 | ) | 3,245 | |||||||||||||||||||||||||||||||||||||||||
Loss on extinguishment of debt | 1,986 | — | — | — | — | 1,986 | ||||||||||||||||||||||||||||||||||||||||||||
Deferred revenue | — | (1,927 | ) | 1,703 | 384 | — | 160 | |||||||||||||||||||||||||||||||||||||||||||
Gain on sales of investments | (190 | ) | — | — | 25 | — | (165 | ) | ||||||||||||||||||||||||||||||||||||||||||
Income tax payable | — | — | (1,679 | ) | 1,706 | — | 27 | |||||||||||||||||||||||||||||||||||||||||||
Changes in operating assets and liabilities: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Accrual for workers’ compensation | (191 | ) | — | — | — | — | (191 | ) | Receivables, net | 147 | (151 | ) | (20,910 | ) | 102 | 7,957 | (12,855 | ) | ||||||||||||||||||||||||||||||||
Asset retirement obligations | — | — | (190 | ) | (3,017 | ) | — | (3,207 | ) | Inventories | — | 709 | (2,389 | ) | (484 | ) | — | (2,164 | ) | |||||||||||||||||||||||||||||||
Accrual for postretirement medical benefits | (100 | ) | — | 1,478 | 607 | — | 1,985 | Excess of black lung benefit obligation over trust assets | 1,791 | — | — | — | — | 1,791 | ||||||||||||||||||||||||||||||||||||
Pension and SERP obligations | 320 | 4 | 177 | 241 | — | 742 | Accounts payable and accrued expenses | 4,981 | (3,209 | ) | 18,396 | 5,453 | (8,222 | ) | 17,399 | |||||||||||||||||||||||||||||||||||
Other assets and liabilities | (187 | ) | 465 | (195 | ) | 4,081 | — | 4,164 | Deferred revenue | — | (8,312 | ) | 772 | (658 | ) | — | (8,198 | ) | ||||||||||||||||||||||||||||||||
Distributions received from subsidiaries | 19,600 | — | — | — | (19,600 | ) | — | Accrual for workers’ compensation | (2,096 | ) | — | — | — | — | (2,096 | ) | ||||||||||||||||||||||||||||||||||
Net cash provided by (used in) operating activities | (1,472 | ) | 6,915 | 11,747 | 18,809 | (14,783 | ) | 21,216 | Asset retirement obligations | — | — | (1,198 | ) | (5,745 | ) | — | (6,943 | ) | ||||||||||||||||||||||||||||||||
Cash flows from investing activities: | Accrual for postretirement medical benefits | (524 | ) | — | 4,858 | 1,857 | — | 6,191 | ||||||||||||||||||||||||||||||||||||||||||
Additions to property, plant and equipment | (157 | ) | (134 | ) | (4,224 | ) | (786 | ) | — | (5,301 | ) | |||||||||||||||||||||||||||||||||||||||
Pension and SERP obligations | 1,286 | 15 | 709 | 792 | — | 2,802 | ||||||||||||||||||||||||||||||||||||||||||||
Change in restricted investments and bond collateral and reclamation deposits | (398 | ) | (3 | ) | (151 | ) | (5,883 | ) | — | (6,435 | ) | |||||||||||||||||||||||||||||||||||||||
Other assets and liabilities | (243 | ) | (536 | ) | 1,047 | (10,128 | ) | 2,000 | (7,860 | ) | ||||||||||||||||||||||||||||||||||||||||
Net proceeds from sales of assets | — | — | 309 | 132 | — | 441 | ||||||||||||||||||||||||||||||||||||||||||||
Distributions received from subsidiaries | 31,971 | — | — | — | (31,971 | ) | — | |||||||||||||||||||||||||||||||||||||||||||
Proceeds from the sale of investments | — | — | 120 | 5,499 | — | 5,619 | ||||||||||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) operating activities | (14,276 | ) | 7,439 | 64,322 | 25,476 | (25,817 | ) | 57,144 | ||||||||||||||||||||||||||||||||||||||||||
Cash flows from investing activities: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Receivable from customer for property and equipment purchases | — | — | — | (49 | ) | — | (49 | ) | Additions to property, plant and equipment | (159 | ) | (2,067 | ) | (8,385 | ) | (10,421 | ) | — | (21,032 | ) | ||||||||||||||||||||||||||||||
Net cash provided by (used in) investing activities | (555 | ) | (137 | ) | (3,946 | ) | (1,087 | ) | — | (5,725 | ) | Change in restricted investments and bond collateral and reclamation deposits | (3,248 | ) | (7 | ) | (27,504 | ) | (3,133 | ) | — | (33,892 | ) | |||||||||||||||||||||||||||
Cash flows from financing activities: | Cash payments related to acquisitions and other | 4,000 | — | (76,522 | ) | — | — | (72,522 | ) | |||||||||||||||||||||||||||||||||||||||||
Change in book overdrafts | — | — | (7 | ) | 827 | — | 820 | |||||||||||||||||||||||||||||||||||||||||||
Net proceeds from sales of assets | — | — | 240 | 240 | — | 480 | ||||||||||||||||||||||||||||||||||||||||||||
Repayments of long-term debt | — | — | (713 | ) | (5,860 | ) | — | (6,573 | ) | |||||||||||||||||||||||||||||||||||||||||
Proceeds from the sale of restricted investments | 1,581 | — | 1,889 | 636 | — | 4,106 | ||||||||||||||||||||||||||||||||||||||||||||
Borrowings on revolving lines of credit | — | — | — | 6,000 | — | 6,000 | ||||||||||||||||||||||||||||||||||||||||||||
Receivable from customer for property and equipment purchases | — | — | — | (674 | ) | — | (674 | ) | ||||||||||||||||||||||||||||||||||||||||||
Repayments on revolving lines of credit | — | — | — | (6,000 | ) | — | (6,000 | ) | ||||||||||||||||||||||||||||||||||||||||||
Debt issuance costs and other refinancing costs | — | — | — | (156 | ) | — | (156 | ) | ||||||||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) investing activities | 2,174 | (2,074 | ) | (110,282 | ) | (13,352 | ) | — | (123,534 | ) | ||||||||||||||||||||||||||||||||||||||||
Dividends/distributions | (340 | ) | (6,500 | ) | (8,000 | ) | (5,100 | ) | 19,600 | (340 | ) | |||||||||||||||||||||||||||||||||||||||
Cash flows from financing activities: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Transactions with Parent/affiliates | (22,106 | ) | (16 | ) | 2,255 | 4,076 | 15,791 | — | Change in book overdrafts | — | (259 | ) | 6 | — | — | (253 | ) | |||||||||||||||||||||||||||||||||
Net cash provided by (used in) financing activities | (22,446 | ) | (6,516 | ) | (6,465 | ) | (6,213 | ) | 35,391 | (6,249 | ) | Borrowings from long-term debt | 119,364 | — | — | — | — | 119,364 | ||||||||||||||||||||||||||||||||
Net increase (decrease) in cash and cash equivalents | (24,473 | ) | 262 | 1,336 | 11,509 | 20,608 | 9,242 | Repayments of long-term debt | (23,000 | ) | — | (2,494 | ) | (19,352 | ) | — | (44,846 | ) | ||||||||||||||||||||||||||||||||
Cash and cash equivalents, beginning of period | 14,836 | 4,545 | 5,362 | 6,867 | — | 31,610 | Borrowings on revolving lines of credit | — | — | — | 16,500 | — | 16,500 | |||||||||||||||||||||||||||||||||||||
Cash and cash equivalents, end of period | $ | (9,637 | ) | $ | 4,807 | $ | 6,698 | $ | 18,376 | $ | 20,608 | $ | 40,852 | Repayments on revolving lines of credit | — | — | — | (16,500 | ) | — | (16,500 | ) | ||||||||||||||||||||||||||||
Debt issuance costs and other refinancing costs | (5,666 | ) | — | — | (22 | ) | — | (5,688 | ) | |||||||||||||||||||||||||||||||||||||||||
Dividends/distributions | (1,360 | ) | (1,050 | ) | (19,173 | ) | (11,748 | ) | 31,971 | (1,360 | ) | |||||||||||||||||||||||||||||||||||||||
Transactions with Parent/affiliates | (88,541 | ) | 483 | 72,840 | 21,372 | (6,154 | ) | — | ||||||||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) financing activities | 797 | (826 | ) | 51,179 | (9,750 | ) | 25,817 | 67,217 | ||||||||||||||||||||||||||||||||||||||||||
Net increase (decrease) in cash and cash equivalents | (11,305 | ) | 4,539 | 5,219 | 2,374 | — | 827 | |||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents, beginning of year | 26,141 | 6 | 143 | 4,493 | — | 30,783 | ||||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents, end of year | $ | 14,836 | $ | 4,545 | $ | 5,362 | $ | 6,867 | $ | — | $ | 31,610 | ||||||||||||||||||||||||||||||||||||||
____________________ | ||||||||||||||||||||||||||||||||||||||||||||||||||
(1) This table is presented for historical information and presents WML and its subsidiaries as non-guarantor subsidiaries. WML and its subsidiaries became additional guarantor subsidiaries effective on July 31, 2014. | ||||||||||||||||||||||||||||||||||||||||||||||||||
CONSOLIDATING STATEMENTS OF CASH FLOWS (1) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Year Ended December 31, 2011 | ||||||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Statements of Cash Flows | Parent/ | Co-Issuer | Guarantor | Non-Guarantor | Consolidating | Total | ||||||||||||||||||||||||||||||||||||||||||||
Issuer | Subsidiaries | Subsidiaries | Adjustments | |||||||||||||||||||||||||||||||||||||||||||||||
Cash flows from operating activities: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Net loss | $ | (36,875 | ) | $ | 5,089 | $ | 3,463 | $ | 5,073 | $ | (13,625 | ) | $ | (36,875 | ) | |||||||||||||||||||||||||||||||||||
Adjustments to reconcile net loss to net cash provided by operating activities: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Equity in income of subsidiaries | (18,508 | ) | — | — | — | 18,508 | — | |||||||||||||||||||||||||||||||||||||||||||
Depreciation, depletion, and amortization | 306 | 10,175 | 7,936 | 27,177 | — | 45,594 | ||||||||||||||||||||||||||||||||||||||||||||
Accretion of asset retirement obligation and receivable | — | 55 | 3,034 | 7,789 | — | 10,878 | ||||||||||||||||||||||||||||||||||||||||||||
Amortization of intangible assets and liabilities, net | — | 621 | — | 36 | — | 657 | ||||||||||||||||||||||||||||||||||||||||||||
Share-based compensation | 1,671 | 32 | 249 | 2,769 | — | 4,721 | ||||||||||||||||||||||||||||||||||||||||||||
Loss (gain) on sale of assets | 3 | 189 | 59 | 389 | — | 640 | ||||||||||||||||||||||||||||||||||||||||||||
Amortization of deferred financing costs | 1,485 | (21 | ) | 383 | 668 | — | 2,515 | |||||||||||||||||||||||||||||||||||||||||||
Loss on extinguishment of debt | 7,873 | 9,073 | 84 | — | — | 17,030 | ||||||||||||||||||||||||||||||||||||||||||||
Gain on sales of investments | — | — | (75 | ) | (75 | ) | — | (150 | ) | |||||||||||||||||||||||||||||||||||||||||
Loss on derivative instruments | 3,079 | — | — | — | — | 3,079 | ||||||||||||||||||||||||||||||||||||||||||||
Changes in operating assets and liabilities: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Receivables, net | (158 | ) | 1,479 | (4,343 | ) | 2,263 | 6,250 | 5,491 | ||||||||||||||||||||||||||||||||||||||||||
Inventories | — | (1,820 | ) | 134 | (439 | ) | — | (2,125 | ) | |||||||||||||||||||||||||||||||||||||||||
Excess of black lung benefit obligation over trust assets | 4,319 | — | — | — | — | 4,319 | ||||||||||||||||||||||||||||||||||||||||||||
Accounts payable and accrued expenses | 5,849 | (1,063 | ) | 378 | 3,103 | (4,139 | ) | 4,128 | ||||||||||||||||||||||||||||||||||||||||||
Deferred revenue | — | (8,774 | ) | (349 | ) | (795 | ) | — | (9,918 | ) | ||||||||||||||||||||||||||||||||||||||||
Accrual for workers’ compensation | 1,248 | — | — | — | — | 1,248 | ||||||||||||||||||||||||||||||||||||||||||||
Asset retirement obligations | — | — | (875 | ) | (5,635 | ) | — | (6,510 | ) | |||||||||||||||||||||||||||||||||||||||||
Accrual for postretirement medical benefits | (2,878 | ) | — | — | 1,235 | — | (1,643 | ) | ||||||||||||||||||||||||||||||||||||||||||
Pension and SERP obligations | (4,320 | ) | (50 | ) | — | 3,092 | — | (1,278 | ) | |||||||||||||||||||||||||||||||||||||||||
Other assets and liabilities | 444 | (529 | ) | 3,839 | (392 | ) | (428 | ) | 2,934 | |||||||||||||||||||||||||||||||||||||||||
Distributions received from subsidiaries | 23,400 | — | — | — | (23,400 | ) | — | |||||||||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) operating activities | (13,062 | ) | 14,456 | 13,917 | 46,258 | (16,834 | ) | 44,735 | ||||||||||||||||||||||||||||||||||||||||||
Cash flows from investing activities: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Additions to property, plant and equipment | (797 | ) | (2,119 | ) | (2,569 | ) | (22,109 | ) | — | (27,594 | ) | |||||||||||||||||||||||||||||||||||||||
Change in restricted investments and bond collateral and reclamation deposits | (1,714 | ) | 2,581 | (3,738 | ) | (3,115 | ) | — | (5,986 | ) | ||||||||||||||||||||||||||||||||||||||||
Cash payments related to acquisitions and other | (4,000 | ) | — | — | — | — | (4,000 | ) | ||||||||||||||||||||||||||||||||||||||||||
Net proceeds from sales of assets | — | — | 250 | 437 | — | 687 | ||||||||||||||||||||||||||||||||||||||||||||
Proceeds from the sale of investments | — | — | 1,075 | 2,275 | — | 3,350 | ||||||||||||||||||||||||||||||||||||||||||||
Receivable from customer for property and equipment purchases | — | — | — | (96 | ) | — | (96 | ) | ||||||||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) investing activities | (6,511 | ) | 462 | (4,982 | ) | (22,608 | ) | — | (33,639 | ) | ||||||||||||||||||||||||||||||||||||||||
Cash flows from financing activities: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Change in book overdrafts | (146 | ) | 259 | (694 | ) | (143 | ) | — | (724 | ) | ||||||||||||||||||||||||||||||||||||||||
Borrowings from long-term debt | 142,500 | — | — | — | — | 142,500 | ||||||||||||||||||||||||||||||||||||||||||||
Repayments of long-term debt | (2,532 | ) | (46,220 | ) | (11,982 | ) | (12,832 | ) | — | (73,566 | ) | |||||||||||||||||||||||||||||||||||||||
Borrowings on revolving lines of credit | — | 1,500 | 12,200 | 73,500 | — | 87,200 | ||||||||||||||||||||||||||||||||||||||||||||
Repayments on revolving lines of credit | — | (1,500 | ) | (29,100 | ) | (75,000 | ) | — | (105,600 | ) | ||||||||||||||||||||||||||||||||||||||||
Debt issuance costs | (6,042 | ) | (9,077 | ) | 100 | — | — | (15,019 | ) | |||||||||||||||||||||||||||||||||||||||||
Exercise of stock options | 422 | — | — | — | — | 422 | ||||||||||||||||||||||||||||||||||||||||||||
Dividends/distributions | (21,301 | ) | (10,700 | ) | — | (12,700 | ) | 23,400 | (21,301 | ) | ||||||||||||||||||||||||||||||||||||||||
Transactions with Parent/affiliates | (67,458 | ) | 49,946 | 20,684 | 3,394 | (6,566 | ) | — | ||||||||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) financing activities | 45,443 | (15,792 | ) | (8,792 | ) | (23,781 | ) | 16,834 | 13,912 | |||||||||||||||||||||||||||||||||||||||||
Net increase (decrease) in cash and cash equivalents | 25,870 | (874 | ) | 143 | (131 | ) | — | 25,008 | ||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents, beginning of year | 271 | 880 | — | 4,624 | — | 5,775 | ||||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents, end of year | $ | 26,141 | $ | 6 | $ | 143 | $ | 4,493 | $ | — | $ | 30,783 | ||||||||||||||||||||||||||||||||||||||
BASIS_OF_PRESENTATION_Sherritt
BASIS OF PRESENTATION - Sherritt Acquisition (Details) (USD $) | 3 Months Ended | 12 Months Ended | 0 Months Ended | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 24, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | |
Sherritt International Corporation [Member] | Sherritt International Corporation [Member] | Sherritt International Corporation [Member] | ||||||
mines | ||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Number of mines | ' | ' | ' | ' | ' | 7 | ' | ' |
Percentage of voting interests acquired | ' | ' | ' | ' | ' | 50.00% | ' | ' |
Purchase price | ' | ' | ' | ' | ' | $435,000,000 | ' | ' |
Cash consideration | ' | ' | ' | ' | ' | 293,000,000 | ' | ' |
Assumption of capital lease obligation | ' | ' | ' | ' | ' | 142,000,000 | ' | ' |
Acquisition-related costs | ' | ' | ' | ' | ' | ' | 18,100,000 | 2,900,000 |
Loss on foreign exchange | -6,790,000 | 0 | ' | ' | ' | ' | 6,800,000 | ' |
Interest Expense, Debt | ' | ' | ' | ' | ' | ' | 6,100,000 | ' |
Interest Expense | 20,798,000 | 10,160,000 | 39,937,000 | 42,677,000 | 29,769,000 | ' | 4,900,000 | ' |
Other Expenses | ' | ' | ' | ' | ' | ' | $300,000 | ' |
BASIS_OF_PRESENTATION_Debt_Obl
BASIS OF PRESENTATION - Debt Obligations (Details) (USD $) | 3 Months Ended | 12 Months Ended | 3 Months Ended | ||||||||||
Mar. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Mar. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Mar. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 29, 2012 | Feb. 04, 2011 | Mar. 31, 2013 | Mar. 31, 2014 | |
Term Debt [Member] | Term Debt [Member] | Term Debt [Member] | Senior secured notes | Senior secured notes | Senior secured notes | Senior secured notes | Senior secured notes | Other operating income | Senior Notes Due 2018 | ||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt arrangements | $800,231,000 | $339,837,000 | $360,989,000 | $81,000,000 | $85,500,000 | $103,500,000 | $251,500,000 | $251,500,000 | $252,000,000 | ' | ' | ' | ' |
Business interruption insurance proceeds recorded in income | ' | 16,200,000 | 17,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | 4,800,000 | ' |
Cash proceeds from business interruption insurance | 4,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Secured senior note | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $425,000,000 |
Stated interest rate (percent) | ' | ' | ' | 8.02% | ' | ' | 10.75% | ' | ' | 10.75% | 10.75% | ' | 10.75% |
SUMMARY_OF_SIGNIFICANT_ACCOUNT3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Acquisition and subsequent event) (Details) (USD $) | 3 Months Ended | 0 Months Ended | 3 Months Ended | 12 Months Ended | 0 Months Ended | |||||||||
Mar. 31, 2014 | Mar. 31, 2013 | Dec. 24, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Dec. 24, 2013 | Dec. 24, 2013 | Dec. 24, 2013 | Dec. 31, 2013 | Dec. 24, 2013 | Feb. 07, 2014 | Jan. 10, 2014 | |
Sherritt International Corporation [Member] | Sherritt International Corporation [Member] | Sherritt International Corporation [Member] | Senior Notes Due 2018 | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Letter of Credit [Member] | Letter of Credit [Member] | Subsequent Event | Subsequent Event | |||
mines | Minimum [Member] | Maximum [Member] | Discretionary Increase [Member] | Senior Notes Due 2018 | Letter of Credit [Member] | |||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of mines | ' | ' | 7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of voting interests acquired | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Purchase price | ' | ' | $435,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash consideration | ' | ' | 293,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash bonding obligation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 58,000,000 | ' |
Assumption of capital lease obligation | ' | ' | 142,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisition-related costs | ' | ' | ' | 18,100,000 | 2,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash transaction costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 26,000,000 | ' |
Line of credit facility maximum borrowing capacity | ' | ' | ' | ' | ' | ' | 20,000,000 | 60,000,000 | 70,000,000 | 100,000,000 | 2,000,000 | 30,000,000 | ' | 10,000,000 |
Senior secured note face amount | ' | ' | ' | ' | ' | 425,000,000 | ' | ' | ' | ' | ' | ' | 425,000,000 | ' |
Stated interest rate | ' | ' | ' | ' | ' | 10.75% | ' | ' | ' | ' | ' | ' | 10.75% | ' |
Issue price (as a percent of face value) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 106.88% | ' |
Loss on foreign exchange | ($6,790,000) | $0 | ' | $6,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
SUMMARY_OF_SIGNIFICANT_ACCOUNT4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Variable Interest Entities) (Details) (Absaloka Mine, Variable Interest Entity, Primary Beneficiary [Member], USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2013 |
Variable Interest Entity [Line Items] | ' |
Variable Interest Entity, Ownership Percentage | 50.00% |
Decrease to other liabilities due to cessation of operations | $19.10 |
Decrease to noncontrolling interest due to cessation of operations | $18.10 |
Subsequent Event | ' |
Variable Interest Entity [Line Items] | ' |
Variable Interest Entity, Ownership Percentage | 100.00% |
SUMMARY_OF_SIGNIFICANT_ACCOUNT5
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Property, Plant and Equipment) (Details) | 12 Months Ended |
Dec. 31, 2013 | |
Building and Building Improvements [Member] | Minimum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Estimated useful lives of property, plant and equipment | '15 years |
Building and Building Improvements [Member] | Maximum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Estimated useful lives of property, plant and equipment | '30 years |
Machinery and Equipment [Member] | Minimum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Estimated useful lives of property, plant and equipment | '3 years |
Machinery and Equipment [Member] | Maximum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Estimated useful lives of property, plant and equipment | '36 years |
SUMMARY_OF_SIGNIFICANT_ACCOUNT6
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Intangible Assets and Liabilities) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Accounting Policies [Abstract] | ' | ' | ' |
Amortization of intangible assets | $1,700,000 | $1,700,000 | $1,700,000 |
Amortization of intangible liabilities | 1,000,000 | 1,000,000 | 1,000,000 |
Amortization expense (revenue): | ' | ' | ' |
2014 | 17,000 | ' | ' |
2015 | -791,000 | ' | ' |
2016 | -953,000 | ' | ' |
2017 | -953,000 | ' | ' |
2018 | ($953,000) | ' | ' |
SUMMARY_OF_SIGNIFICANT_ACCOUNT7
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Deferred Revenue) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Deferred Revenue Arrangement [Line Items] | ' | ' |
Other Nonoperating Income | $16.20 | $17.30 |
Power [Member] | ' | ' |
Deferred Revenue Arrangement [Line Items] | ' | ' |
Prior deferred revenue recognized | $8.70 | $8.30 |
SUMMARY_OF_SIGNIFICANT_ACCOUNT8
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Restructuring Charges) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Restructuring Reserve [Roll Forward] | ' | ' | ' | ' | ' |
Restructuring charges | $397,000 | $0 | $5,078,000 | $0 | $0 |
Restructuring of contracts | ' | ' | ' | ' | ' |
Restructuring Reserve Disclosures [Abstract] | ' | ' | ' | ' | ' |
Remaining Period of Contract | ' | ' | '5 years | ' | ' |
Restructuring Reserve [Roll Forward] | ' | ' | ' | ' | ' |
Beginning balance | 5,100,000 | 0 | 0 | ' | ' |
Restructuring charges | 400,000 | ' | 5,100,000 | ' | ' |
Payments for Restructuring | 400,000 | ' | 0 | ' | ' |
Ending balance | $5,100,000 | ' | $5,100,000 | ' | ' |
SUMMARY_OF_SIGNIFICANT_ACCOUNT9
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Antidilutive Securities Excluded from Computation of Earnings Per Share) (Details) | 3 Months Ended | 12 Months Ended | |||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' | ' |
Shares excluded from diluted shares calculation | 1,607 | 2,071 | 1,898 | 2,071 | 1,727 |
Convertible notes and securities [Member] | ' | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' | ' |
Shares excluded from diluted shares calculation | ' | ' | 1,093 | 1,093 | 1,093 |
Restricted stock units, stock options, and SARs [Member] | ' | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' | ' |
Shares excluded from diluted shares calculation | ' | ' | 805 | 978 | 634 |
Recovered_Sheet1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Liquidity and Capital Resources) (Details) (USD $) | 12 Months Ended | ||||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 24, 2013 | Mar. 31, 2014 | Jun. 29, 2012 | Feb. 04, 2011 | Feb. 04, 2011 | Jan. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 |
Revolving Credit Facility [Member] | Letter of Credit [Member] | Letter of Credit [Member] | 10.75% Senior Notes [Member] | 10.75% Senior Notes [Member] | 10.75% Senior Notes [Member] | 10.75% Senior Notes [Member] | 10.75% Senior Notes [Member] | WRMI [Member] | Westmoreland Mining, LLC [Member] | Westmoreland Mining, LLC [Member] | |
Senior Notes Issued February 4, 2011 [Member] | Senior Notes Issued January 31, 2012 [Member] | Revolving Credit Facility [Member] | |||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Statutory minimum level of capital | ' | ' | ' | ' | ' | ' | ' | ' | $0 | ' | ' |
Senior secured note face amount | ' | ' | ' | ' | ' | ' | 150 | 125 | ' | ' | ' |
Line of credit facility, term | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stated interest rate | ' | ' | ' | 10.75% | 10.75% | 10.75% | 10.75% | ' | ' | ' | 3.75% |
Line of credit facility maximum borrowing capacity | 20 | 2 | 30 | ' | ' | ' | ' | ' | ' | 25 | 25 |
Letters of credit outstanding amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.9 |
Line of credit facility, available borrowing capacity | $20 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $23.10 |
ACQUISITION_Summary_of_purchas
ACQUISITION - Summary of purchase consideration and allocation of purchase consideration (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2012 | Jun. 30, 2012 |
Kemmerer Mine | ' | ' |
Business Acquisition [Line Items] | ' | ' |
Cash bonding obligation | $24.70 | ' |
Acquisition-related costs | 1.6 | ' |
Deferred issuance costs | 5.1 | ' |
Purchase consideration: | ' | ' |
Cash consideration | 76.5 | ' |
Fair value of liabilities assumed: | ' | ' |
Postretirement medical cost obligations | 49.2 | ' |
Asset retirement obligations | 19.4 | ' |
Pension obligations | 15.6 | ' |
Deferred revenue | 2.2 | 2.2 |
Accrued liabilities | 1.6 | ' |
Total fair value of liabilities assumed | 88 | ' |
Total purchase consideration | 164.5 | ' |
Allocation of purchase consideration: | ' | ' |
Inventories | 9.6 | ' |
Land and mineral rights | 65.5 | ' |
Plant and equipment | 89.4 | ' |
Total assets | 164.5 | ' |
10.75% Senior Notes [Member] | ' | ' |
Business Acquisition [Line Items] | ' | ' |
Senior secured note face amount | $125 | ' |
10.75% Senior Notes [Member] | Kemmerer Mine | ' | ' |
Business Acquisition [Line Items] | ' | ' |
Stated interest rate | 10.80% | ' |
Issue price (as a percent of face value) | 95.50% | ' |
ACQUISITION_Summary_of_Pro_For
ACQUISITION - Summary of Pro Forma Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Total Revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
As reported | $180,202 | $173,947 | $176,792 | $162,499 | $161,448 | $159,027 | $161,332 | $132,842 | $147,236 | $674,686 | $600,437 | $501,713 |
Pro forma | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 614,550 | 645,595 |
Operating Income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
As reported | 8,053 | -883 | 8,536 | 11,975 | 5,734 | 8,597 | 15,451 | -4,262 | 9,086 | 25,362 | 28,872 | 10,626 |
Pro forma | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 31,146 | 13,275 |
Net income (loss) applicable to common shareholders | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
As reported | -19,291 | -5,131 | 2,421 | -622 | -2,725 | -3,963 | 7,282 | -12,423 | 518 | -6,057 | -8,586 | -34,460 |
Pro forma | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ($7,524) | ($46,260) |
Net income (loss) per share applicable to common shareholders | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
As reported (in USD per share) | ($1.30) | ' | ' | ' | ($0.19) | ' | ' | ' | ' | ($0.42) | ($0.61) | ($2.61) |
Pro forma (in USD per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ($0.54) | ($3.51) |
INVENTORIES_Detail
INVENTORIES (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | |||
Inventory Disclosure [Abstract] | ' | ' | ' |
Coal stockpiles | $1,189 | $543 | $989 |
Coal fuel inventories | 1,844 | 6,161 | 3,048 |
Materials and supplies | 33,189 | 34,233 | 34,954 |
Reserve for obsolete inventory | -775 | -965 | -1,257 |
Total | $35,447 | $39,972 | $37,734 |
RESTRICTED_INVESTMENTS_AND_BON2
RESTRICTED INVESTMENTS AND BOND COLLATERAL - Components of Restricted Investments and Bond Collateral (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | |||
Restricted Investments and Bond Collateral [Line Items] | ' | ' | ' |
Total restricted investments and bond collateral | $540,383 | $75,233 | $87,209 |
Less current portion | -16,900 | -5,998 | 0 |
Total restricted investments and bond collateral, less current portion | 523,483 | 69,235 | 87,209 |
Debt Reserve Account [Member] | Coal [Member] | ' | ' | ' |
Restricted Investments and Bond Collateral [Line Items] | ' | ' | ' |
Total restricted investments and bond collateral | 13,068 | 13,067 | 13,062 |
Reclamation Bond Collateral [Member] | Coal [Member] | Kemmerer Mine | ' | ' | ' |
Restricted Investments and Bond Collateral [Line Items] | ' | ' | ' |
Total restricted investments and bond collateral | 24,944 | 24,966 | 24,702 |
Reclamation Bond Collateral [Member] | Coal [Member] | Absaloka Mine | ' | ' | ' |
Restricted Investments and Bond Collateral [Line Items] | ' | ' | ' |
Total restricted investments and bond collateral | 11,670 | 11,653 | 14,507 |
Reclamation Bond Collateral [Member] | Coal [Member] | Rosebud Mine | ' | ' | ' |
Restricted Investments and Bond Collateral [Line Items] | ' | ' | ' |
Total restricted investments and bond collateral | 3,145 | 3,145 | 12,495 |
Reclamation Bond Collateral [Member] | Coal [Member] | Beulah Mine | ' | ' | ' |
Restricted Investments and Bond Collateral [Line Items] | ' | ' | ' |
Total restricted investments and bond collateral | 1,270 | 1,270 | 1,270 |
Letter of Credit Account [Member] | Power [Member] | ' | ' | ' |
Restricted Investments and Bond Collateral [Line Items] | ' | ' | ' |
Total restricted investments and bond collateral | 0 | 5,998 | 5,990 |
Postretirement Medical Benefit Bonds [Member] | Corporate [Member] | ' | ' | ' |
Restricted Investments and Bond Collateral [Line Items] | ' | ' | ' |
Total restricted investments and bond collateral | 8,481 | 8,467 | 8,593 |
Workers' Compensation Bonds [Member] | Corporate [Member] | ' | ' | ' |
Restricted Investments and Bond Collateral [Line Items] | ' | ' | ' |
Total restricted investments and bond collateral | 6,686 | 6,667 | 6,590 |
Proceeds From New Notes Held In Escrow [Member] | Corporate [Member] | ' | ' | ' |
Restricted Investments and Bond Collateral [Line Items] | ' | ' | ' |
Total restricted investments and bond collateral | 454,219 | 0 | ' |
Other Amounts Held in Escrow [Member] | Corporate [Member] | ' | ' | ' |
Restricted Investments and Bond Collateral [Line Items] | ' | ' | ' |
Total restricted investments and bond collateral | $16,900 | $0 | ' |
RESTRICTED_INVESTMENTS_AND_BON3
RESTRICTED INVESTMENTS AND BOND COLLATERAL - Carrying Value and Estimated Fair Value of Restricted Investments and Bond Collateral (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | |||
Investment [Line Items] | ' | ' | ' |
Total restricted investments and bond collateral | $540,383 | $75,233 | $87,209 |
Restricted investments and bond collateral | 523,483 | 69,235 | 87,209 |
Carrying Value [Member] | ' | ' | ' |
Investment [Line Items] | ' | ' | ' |
Cash and cash equivalents | 503,391 | 40,605 | ' |
Time deposits | 2,444 | 2,444 | ' |
Held-to-maturity securities | 34,548 | 32,184 | ' |
Total restricted investments and bond collateral | ' | 75,233 | ' |
Restricted investments and bond collateral | 540,383 | ' | ' |
Fair Value [Member] | ' | ' | ' |
Investment [Line Items] | ' | ' | ' |
Cash and cash equivalents | 503,391 | 40,605 | ' |
Time deposits | 2,444 | 2,444 | ' |
Held-to-maturity securities | 34,707 | 32,046 | ' |
Total restricted investments and bond collateral | ' | 75,095 | ' |
Restricted investments and bond collateral | $540,542 | ' | ' |
RESTRICTED_INVESTMENTS_AND_BON4
RESTRICTED INVESTMENTS AND BOND COLLATERAL - Amortized Cost, Gross Unrealized Holding Gains and Losses and Fair Value of Held-to-Maturity Securities (Detail) (Held-to-maturity securities, USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | |||
Held-to-maturity securities | ' | ' | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' | ' | ' |
Amortized cost | $34,548 | $32,184 | $3,983 |
Gross unrealized holding gains | 440 | 309 | 356 |
Gross unrealized holding losses | -281 | -447 | 0 |
Fair value | $34,707 | $32,046 | $4,339 |
RESTRICTED_INVESTMENTS_AND_BON5
RESTRICTED INVESTMENTS AND BOND COLLATERAL - Maturities of Held-to-Maturity Securities (Detail) (Held-to-maturity securities, USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | |||
Held-to-maturity securities | ' | ' | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' | ' | ' |
Within one year, Amortized cost | $1,193 | $1,111 | ' |
Due in five years or less, Amortized cost | 19,539 | 17,839 | ' |
Due after five years to ten years, Amortized cost | 6,718 | 6,769 | ' |
Due in more than ten years, Amortized cost | 7,098 | 6,465 | ' |
Maturities of held-to-maturity securities, Amortized cost | 34,548 | 32,184 | ' |
Within one year, Fair Value | 1,217 | 1,143 | ' |
Due in five years or less, Fair Value | 19,752 | 17,944 | ' |
Due after five years to ten years, Fair Value | 6,717 | 6,665 | ' |
Due in more than ten years, Fair Value | 7,021 | 6,294 | ' |
Fair value | $34,707 | $32,046 | $4,339 |
RESTRICTED_INVESTMENTS_AND_BON6
RESTRICTED INVESTMENTS AND BOND COLLATERAL - Cost Basis, Gross Unrealized Holding Gains and Fair Value of Available-for-Sale Securities (Detail) (Available-for-sale Securities [Member], USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Available-for-sale Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Cost basis | $0 | $175 |
Gross unrealized holding gains | 0 | 16 |
Fair value | $0 | $191 |
RESTRICTED_INVESTMENTS_AND_BON7
RESTRICTED INVESTMENTS AND BOND COLLATERAL - Additional Information (Detail) (USD $) | 12 Months Ended | 12 Months Ended | ||||||
Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | |
Available-for-sale Securities [Member] | Available-for-sale Securities [Member] | Available-for-sale Securities [Member] | Absaloka Mine | Rosebud Mine | ||||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Gain on sale of available-for-sale securities held as restricted investments and bond collateral | ' | ' | ' | $100,000 | $100,000 | $100,000 | ' | ' |
Reclamation Bond Collateral Released From Restriction | ' | ' | ' | ' | ' | ' | 3,000,000 | 9,400,000 |
Number of months required funding in debt service reserve account | '6 months | ' | ' | ' | ' | ' | ' | ' |
Letter of credit released from restriction | $5,998,000 | $16,900,000 | $0 | ' | ' | ' | ' | ' |
LINES_OF_CREDIT_AND_LONGTERM_D2
LINES OF CREDIT AND LONG-TERM DEBT - Outstanding Lines of Credit and Long-Term Debt (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | |||
Debt Instrument [Line Items] | ' | ' | ' |
Total debt outstanding | $800,231 | $339,837 | $360,989 |
Less current portion | -48,586 | -44,343 | -23,791 |
Total debt outstanding, less current portion | 751,645 | 295,494 | 337,198 |
10.75% Senior Notes [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Total debt outstanding | 251,500 | 251,500 | 252,000 |
Less current portion | ' | -22,100 | ' |
Senior Notes Due 2018 | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Total debt outstanding | 425,000 | 0 | ' |
WML Term Debt due 2018 [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Total debt outstanding | 81,000 | 85,500 | 103,500 |
Capital Lease Obligations [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Total debt outstanding | 21,465 | 10,153 | 13,926 |
Other [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Total debt outstanding | 1,093 | 1,209 | 1,654 |
Debt Discount [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Total debt outstanding | $20,173 | ($8,525) | ($10,091) |
LINES_OF_CREDIT_AND_LONGTERM_D3
LINES OF CREDIT AND LONG-TERM DEBT - Aggregate Contractual Debt Maturities of All Long-Term Debt and Lines of Credit (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | |||
Debt Instrument [Line Items] | ' | ' | ' |
2014 | $19,569 | $23,949 | ' |
2015 | 24,710 | 22,662 | ' |
2016 | 24,055 | 21,943 | ' |
2017 | 24,664 | 22,492 | ' |
2018 | 684,556 | 257,316 | ' |
Thereafter | 2,504 | 0 | ' |
Total | 780,058 | 348,362 | ' |
Less: debt discount | -20,173 | -8,525 | ' |
Total debt outstanding | 800,231 | 339,837 | 360,989 |
Term Debt [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
2014 | ' | 18,000 | ' |
2015 | ' | 20,000 | ' |
2016 | ' | 20,000 | ' |
2017 | ' | 22,000 | ' |
2018 | ' | 5,500 | ' |
Thereafter | ' | 0 | ' |
Total debt outstanding | $81,000 | $85,500 | $103,500 |
LINES_OF_CREDIT_AND_LONGTERM_D4
LINES OF CREDIT AND LONG-TERM DEBT - Additional Information (Detail) (USD $) | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 0 Months Ended | 3 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 0 Months Ended | |||||||||||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Mar. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 24, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Mar. 31, 2014 | Jun. 29, 2012 | Feb. 04, 2011 | Mar. 31, 2014 | Feb. 07, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Mar. 31, 2014 | Feb. 04, 2011 | Dec. 31, 2011 | Jan. 31, 2012 | Mar. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Jan. 10, 2014 | Feb. 07, 2014 | |
Kemmerer Mine | Revolving Credit Facility [Member] | Letter of Credit [Member] | Letter of Credit [Member] | Westmoreland Mining, LLC [Member] | Westmoreland Mining, LLC [Member] | Westmoreland Mining, LLC [Member] | Westmoreland Mining, LLC [Member] | Corporate [Member] | 10.75% Senior Notes [Member] | 10.75% Senior Notes [Member] | 10.75% Senior Notes [Member] | 10.75% Senior Notes [Member] | 10.75% Senior Notes [Member] | Add On Senior Secure Notes Due 2018 [Member] | Senior Notes Due 2018 | Senior Notes Due 2018 | Capital Lease Obligations [Member] | Capital Lease Obligations [Member] | Term Debt [Member] | Term Debt [Member] | Senior Notes Issued February 4, 2011 [Member] | Senior Notes Issued January 31, 2012 [Member] | Senior Notes Issued January 31, 2012 [Member] | Senior Notes Due 2018 | Base Rate [Member] | Base Rate [Member] | London Interbank Offered Rate (LIBOR) [Member] | London Interbank Offered Rate (LIBOR) [Member] | Subsequent Event | Subsequent Event | |||||
Revolving Credit Facility [Member] | Two Thousand One Revolving Credit Agreement [Member] | Line of Credit [Member] | Westmoreland Mining, LLC [Member] | Westmoreland Mining, LLC [Member] | 10.75% Senior Notes [Member] | 10.75% Senior Notes [Member] | 10.75% Senior Notes [Member] | Revolving Credit Facility [Member] | Westmoreland Mining, LLC [Member] | Revolving Credit Facility [Member] | Westmoreland Mining, LLC [Member] | Letter of Credit [Member] | Senior Notes Due 2018 | ||||||||||||||||||||||
Two Thousand One Revolving Credit Agreement [Member] | Two Thousand One Revolving Credit Agreement [Member] | Two Thousand One Revolving Credit Agreement [Member] | |||||||||||||||||||||||||||||||||
Revolving credit agreements: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Term of revolving line of credit (in years) | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of credit facility maximum borrowing capacity | ' | ' | ' | ' | ' | $20,000,000 | $2,000,000 | $30,000,000 | $25,000,000 | $25,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $10,000,000 | ' |
Line and letter of credit facility, Available balance | ' | ' | ' | ' | ' | ' | 20,000,000 | ' | ' | ' | ' | 23,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Spread on basis, percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.50% | 0.50% | 2.25% | 3.00% | ' | ' |
Effective interest rate at period end, percentage | 8.02% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.75% | ' | 3.53% | ' | ' |
Commitment fee, percentage | ' | ' | ' | ' | ' | 0.75% | ' | ' | ' | ' | 0.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Letters of credit outstanding amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
10.75% Senior Notes: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stated interest rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.75% | ' | ' | ' | ' | ' | 10.75% | 10.75% | 10.75% | 10.75% | 10.75% | 10.75% | ' | ' | ' | 8.02% | 10.75% | ' | ' | 10.75% | ' | ' | ' | ' | ' | 10.75% |
Secured senior note | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 425,000,000 | 425,000,000 | ' | ' | ' | ' | ' | 150,000,000 | ' | 125,000,000 | 425,000,000 | ' | ' | ' | ' | ' | 425,000,000 |
Discount rate used for issuance of notes (in percentage) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.00% | ' | 4.50% | ' | ' | ' | ' | ' | ' | ' |
Extinguishment of debt, amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss on extinguishment of debt | 64,000 | 1,986,000 | 17,030,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | -7,900,000 | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | -9,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of principal amount of notes purchased through excess cash flow | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt issuance costs capitalized | ' | ' | 4,900,000 | ' | ' | 700,000 | ' | ' | ' | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,600,000 | ' | ' | ' | ' | ' | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Repayments of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500,000 | 23,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capital leases outstanding, Weighted average interest rate (in percentage) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.40% | 7.57% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repayments of Long-term Capital Lease Obligations | 2,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal Amount of Capital Lease Obligation Extinguished | 2,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Indenture Provisions Excess Cash Flow | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 29,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Current installments of long-term debt | 44,343,000 | 23,791,000 | ' | 48,586,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 22,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Unamortized Premium | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 29,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Redemption Price, Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 101.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Issuance of Debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 454,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issue price (as a percent of face value) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 106.88% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 106.88% |
Cash transaction costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 26,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 26,000,000 |
Capital Lease Obligations | ' | ' | ' | ' | 12,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash bonding obligation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $58,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $58,000,000 |
POSTRETIREMENT_MEDICAL_BENEFIT2
POSTRETIREMENT MEDICAL BENEFITS - Postretirement Medicial Benefit Obligations Balance Sheet Disclosures (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Change in benefit obligation: | ' | ' | ' | ' | ' |
Net benefit obligation at beginning of year | ' | $176,500 | $176,500 | ' | ' |
Net benefit obligation at end of year | ' | ' | 158,700 | ' | ' |
Change in plan assets: | ' | ' | ' | ' | ' |
Employer contributions | ' | ' | 2,400 | ' | ' |
Amounts recognized in the balance sheet consist of: | ' | ' | ' | ' | ' |
Noncurrent liabilities | -23,524 | ' | -24,176 | -54,250 | ' |
Postretirement Medical Benefits [Member] | ' | ' | ' | ' | ' |
Change in benefit obligation: | ' | ' | ' | ' | ' |
Net benefit obligation at beginning of year | 284,329 | 333,842 | 333,842 | 258,641 | ' |
Liability acquired | ' | ' | 0 | 49,241 | ' |
Service cost | 822 | 1,109 | 4,436 | 3,555 | 493 |
Interest cost | 3,203 | 3,035 | 12,139 | 12,363 | 10,510 |
Plan participant contributions | ' | ' | 132 | 129 | ' |
Actuarial (gain) loss | ' | ' | -53,230 | 22,342 | ' |
Gross benefits paid | ' | ' | -14,220 | -13,544 | ' |
Federal subsidy on benefits paid | ' | ' | 1,230 | 1,115 | ' |
Net benefit obligation at end of year | ' | ' | 284,329 | 333,842 | 258,641 |
Change in plan assets: | ' | ' | ' | ' | ' |
Employer contributions | ' | ' | 14,088 | 13,415 | ' |
Plan participant contributions | ' | ' | 132 | 129 | ' |
Gross benefits paid | ' | ' | -14,220 | -13,544 | ' |
Fair value of plan assets at end of year | ' | ' | 0 | 0 | ' |
Unfunded status at end of year | ' | ' | -284,329 | -333,842 | ' |
Amounts recognized in the balance sheet consist of: | ' | ' | ' | ' | ' |
Current liabilities | ' | ' | -13,955 | -14,068 | ' |
Noncurrent liabilities | ' | ' | -270,374 | -319,775 | ' |
Accumulated other comprehensive loss (gain) | ' | ' | 20,292 | 77,528 | ' |
Net amount recognized at end of year | ' | ' | -264,037 | -256,315 | ' |
Amounts recognized in accumulated other comprehensive loss consist of: | ' | ' | ' | ' | ' |
Net actuarial loss (gain) | ' | ' | 26,012 | 83,884 | ' |
Accumulated other comprehensive loss (gain) | ' | ' | $20,292 | $77,528 | ' |
POSTRETIREMENT_MEDICAL_BENEFIT3
POSTRETIREMENT MEDICAL BENEFITS - Postretirement Medical Benefit Obligations Income Statement Disclosures (Details) (Postretirement Medical Benefits [Member], USD $) | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Amounts that will be amortized from accumulated other comprehensive loss into net periodic pension cost: | ' | ' | ' | ' | ' |
Actuarial loss | ' | ' | $700,000 | ' | ' |
Prior service credit | ' | ' | 600,000 | ' | ' |
Components of net periodic benefit cost: | ' | ' | ' | ' | ' |
Service cost | 822,000 | 1,109,000 | 4,436,000 | 3,555,000 | 493,000 |
Interest cost | 3,203,000 | 3,035,000 | 12,139,000 | 12,363,000 | 10,510,000 |
Amortization of: | ' | ' | ' | ' | ' |
Transition obligation | ' | ' | 0 | 93,000 | 93,000 |
Prior service cost (credit) | ' | ' | -636,000 | -636,000 | -636,000 |
Actuarial loss | ' | ' | 4,641,000 | 3,116,000 | 255,000 |
Defined Benefit Plan Amortization Of Deferred Items | 5,000 | 1,001,000 | ' | ' | ' |
Total net periodic benefit cost | 4,030,000 | 5,145,000 | 20,580,000 | 18,491,000 | 10,715,000 |
Net periodic postretirement medical benefit costs relating to current and former mining operations: | ' | ' | ' | ' | ' |
Total net periodic benefit cost | 4,030,000 | 5,145,000 | 20,580,000 | 18,491,000 | 10,715,000 |
Former Mining Operations [Member] | ' | ' | ' | ' | ' |
Amortization of: | ' | ' | ' | ' | ' |
Total net periodic benefit cost | 2,403,000 | 3,119,000 | 12,475,000 | 11,314,000 | 9,259,000 |
Net periodic postretirement medical benefit costs relating to current and former mining operations: | ' | ' | ' | ' | ' |
Total net periodic benefit cost | 2,403,000 | 3,119,000 | 12,475,000 | 11,314,000 | 9,259,000 |
Current Operations [Member] | ' | ' | ' | ' | ' |
Amortization of: | ' | ' | ' | ' | ' |
Total net periodic benefit cost | 1,627,000 | 2,026,000 | 8,105,000 | 7,177,000 | 1,456,000 |
Net periodic postretirement medical benefit costs relating to current and former mining operations: | ' | ' | ' | ' | ' |
Total net periodic benefit cost | $1,627,000 | $2,026,000 | $8,105,000 | $7,177,000 | $1,456,000 |
POSTRETIREMENT_MEDICAL_BENEFIT4
POSTRETIREMENT MEDICAL BENEFITS Assumptions Used (Details) (Postretirement Medical Benefits [Member], USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Weighted-average discount rates used in calculations: | ' | ' | ' |
Rate used to determine net periodic benefit cost for the year shown | ' | 4.10% | 5.15% |
Assumed health care trend rates: | ' | ' | ' |
Health care cost trend rate assumed for next year | 6.75% | 7.00% | ' |
Rate to which the cost trend is assumed to decline (ultimate trend rate) | 5.00% | 5.00% | ' |
Year that the trend rate reaches the ultimate trend rate | '2021 | '2021 | ' |
Effect of a 1% change in the health care cost trend rate: | ' | ' | ' |
Effect of 1% increase on service and interest cost components | $3,148 | ' | ' |
Effect of 1% decrease on service and interest cost components | -2,442 | ' | ' |
Effect of 1% increase on postretirement medical benefit obligation | 35,464 | ' | ' |
Effect of 1% decrease on postretirement medical benefit obligation | ($30,096) | ' | ' |
Minimum [Member] | ' | ' | ' |
Weighted-average discount rates used in calculations: | ' | ' | ' |
Rate used to determine benefit obligations as of the end of the year shown | 4.50% | 3.60% | ' |
Rate used to determine net periodic benefit cost for the year shown | 3.60% | ' | ' |
Maximum [Member] | ' | ' | ' |
Weighted-average discount rates used in calculations: | ' | ' | ' |
Rate used to determine benefit obligations as of the end of the year shown | 5.05% | 4.15% | ' |
Rate used to determine net periodic benefit cost for the year shown | 4.15% | ' | ' |
POSTRETIREMENT_MEDICAL_BENEFIT5
POSTRETIREMENT MEDICAL BENEFITS Expected Future Cash Flows (Details) (Postretirement Medical Benefits [Member], USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Postretirement Medical Benefits [Member] | ' |
Expected future payments, postretirement medical benefits: | ' |
2014 - Postretirement Medical Benefits | $13,955 |
2015 - Postretirement Medical Benefits | 14,522 |
2016 - Postretirement Medical Benefits | 14,975 |
2017 - Postretirement Medical Benefits | 15,408 |
2018 - Postretirement Medical Benefits | 16,191 |
Years 2019 - 2023 - Postretirement Medical Benefits | 85,342 |
Expected future receipts, Medicare D Subsidy: | ' |
2013 - Medicare D Subsidy | -1,249 |
2014 - Medicare D Subsidy | -1,293 |
2015 - Medicare D Subsidy | -1,336 |
2016 - Medicare D Subsidy | -1,386 |
2017 - Medicare D Subsidy | -1,432 |
Years 2018 - 2022 - Medicare D Subsidy | -7,807 |
Expected future payments, net | ' |
2013 - Net Postretirement Medical Benefits | 12,706 |
2014 - Net Postretirement Medical Benefits | 13,229 |
2015 - Net Postretirement Medical Benefits | 13,639 |
2016 - Net Postretirement Medical Benefits | 14,022 |
2017 - Net Postretirement Medical Benefits | 14,759 |
Years 2018 - 2022 - Net Postretirement Medical Benefits | $77,535 |
POSTRETIREMENT_MEDICAL_BENEFIT6
POSTRETIREMENT MEDICAL BENEFITS Pneumoconiosis (Black Lung) Benefit Obligation (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Pneumoconiosis Benefit Obligation [Abstract] | ' | ' |
Net benefit obligation at end of year | $158,700 | $176,500 |
Pneumoconiosis (Black Lung) Benefits [Member] | ' | ' |
Pneumoconiosis Benefit Obligation [Abstract] | ' | ' |
Net benefit obligation at end of year | 14,143 | 16,200 |
Plan assets at fair value, primarily government-backed securities | 5,468 | 7,844 |
Unfunded status at end of year | 8,675 | 8,356 |
Rate used to determine benefit obligations as of the end of the year shown | 4.00% | 3.25% |
Pneumoconiosis (Black Lung) Benefits [Member] | Fair Value [Member] | ' | ' |
Pneumoconiosis Benefit Obligation [Abstract] | ' | ' |
Trust assets | 5,468 | 7,844 |
Pneumoconiosis (Black Lung) Benefits [Member] | Quoted prices in active markets for identical assets - Level 1 [Member] | ' | ' |
Pneumoconiosis Benefit Obligation [Abstract] | ' | ' |
Trust assets | 3 | 27 |
Pneumoconiosis (Black Lung) Benefits [Member] | Significant other observable inputs - Level 2 [Member] | ' | ' |
Pneumoconiosis Benefit Obligation [Abstract] | ' | ' |
Trust assets | 5,465 | 7,817 |
Pneumoconiosis (Black Lung) Benefits [Member] | US Treasury Securities [Member] | Fair Value [Member] | ' | ' |
Pneumoconiosis Benefit Obligation [Abstract] | ' | ' |
Trust assets | 5,280 | 7,548 |
Pneumoconiosis (Black Lung) Benefits [Member] | US Treasury Securities [Member] | Quoted prices in active markets for identical assets - Level 1 [Member] | ' | ' |
Pneumoconiosis Benefit Obligation [Abstract] | ' | ' |
Trust assets | 0 | 0 |
Pneumoconiosis (Black Lung) Benefits [Member] | US Treasury Securities [Member] | Significant other observable inputs - Level 2 [Member] | ' | ' |
Pneumoconiosis Benefit Obligation [Abstract] | ' | ' |
Trust assets | 5,280 | 7,548 |
Pneumoconiosis (Black Lung) Benefits [Member] | Collateralized Mortgage Backed Securities [Member] | Fair Value [Member] | ' | ' |
Pneumoconiosis Benefit Obligation [Abstract] | ' | ' |
Trust assets | 185 | 269 |
Pneumoconiosis (Black Lung) Benefits [Member] | Collateralized Mortgage Backed Securities [Member] | Quoted prices in active markets for identical assets - Level 1 [Member] | ' | ' |
Pneumoconiosis Benefit Obligation [Abstract] | ' | ' |
Trust assets | 0 | 0 |
Pneumoconiosis (Black Lung) Benefits [Member] | Collateralized Mortgage Backed Securities [Member] | Significant other observable inputs - Level 2 [Member] | ' | ' |
Pneumoconiosis Benefit Obligation [Abstract] | ' | ' |
Trust assets | 185 | 269 |
Pneumoconiosis (Black Lung) Benefits [Member] | Cash and cash equivalents | Fair Value [Member] | ' | ' |
Pneumoconiosis Benefit Obligation [Abstract] | ' | ' |
Trust assets | 3 | 27 |
Pneumoconiosis (Black Lung) Benefits [Member] | Cash and cash equivalents | Quoted prices in active markets for identical assets - Level 1 [Member] | ' | ' |
Pneumoconiosis Benefit Obligation [Abstract] | ' | ' |
Trust assets | 3 | 27 |
Pneumoconiosis (Black Lung) Benefits [Member] | Cash and cash equivalents | Significant other observable inputs - Level 2 [Member] | ' | ' |
Pneumoconiosis Benefit Obligation [Abstract] | ' | ' |
Trust assets | 0 | 0 |
Terminated Employees [Member] | Pneumoconiosis (Black Lung) Benefits [Member] | ' | ' |
Pneumoconiosis Benefit Obligation [Abstract] | ' | ' |
Net benefit obligation at end of year | 876 | 1,139 |
Existing Claimants [Member] | Pneumoconiosis (Black Lung) Benefits [Member] | ' | ' |
Pneumoconiosis Benefit Obligation [Abstract] | ' | ' |
Net benefit obligation at end of year | $13,267 | $15,061 |
POSTRETIREMENT_MEDICAL_BENEFIT7
POSTRETIREMENT MEDICAL BENEFITS - Additional Information (Detail) (USD $) | 12 Months Ended | 12 Months Ended | 12 Months Ended | |||||
Dec. 31, 2013 | Dec. 31, 2012 | Mar. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Postretirement Medical Benefits [Member] | Postretirement Medical Benefits [Member] | Combined Benefit Fund [Member] | Combined Benefit Fund [Member] | Combined Benefit Fund [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Prior service costs | ' | ' | ' | ($5,720,000) | ($6,356,000) | ' | ' | ' |
Defined Benefit Plan, Benefit Obligation, Period Increase (Decrease) | ' | ' | ' | 49,500,000 | ' | ' | ' | ' |
Defined Benefit Plan Transition Obligation Amortization Period | '20 years | ' | ' | ' | ' | ' | ' | ' |
Multiemployer Plan, Period Contributions | ' | ' | ' | ' | ' | 2,200,000 | 2,300,000 | 2,600,000 |
Workers' Compensation Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' |
Workers' compensation, beginning of year (including current portion) | 9,530,000 | 11,626,000 | ' | ' | ' | ' | ' | ' |
Accretion | 166,000 | 204,000 | ' | ' | ' | ' | ' | ' |
Claims paid | -581,000 | -475,000 | ' | ' | ' | ' | ' | ' |
Actuarial changes | -1,654,000 | -1,825,000 | ' | ' | ' | ' | ' | ' |
Workers' compensation, end of year | 7,461,000 | 9,530,000 | ' | ' | ' | ' | ' | ' |
Less current portion | -717,000 | -820,000 | -712,000 | ' | ' | ' | ' | ' |
Workers' compensation, less current portion | $6,744,000 | $8,710,000 | $6,680,000 | ' | ' | ' | ' | ' |
Workers' compensation discount, percent | 3.00% | 2.00% | ' | ' | ' | ' | ' | ' |
PENSION_AND_OTHER_SAVING_PLAN_
PENSION AND OTHER SAVING PLAN - Balance Sheet Disclosures (Details) (USD $) | 12 Months Ended | 3 Months Ended | 12 Months Ended | ||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Pension Benefits [Member] | Pension Benefits [Member] | Pension Benefits [Member] | Pension [Member] | Pension [Member] | Pension [Member] | SERP [Member] | SERP [Member] | SERP [Member] | |||||
Change in benefit obligation: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net benefit obligation at beginning of year | $176,500,000 | ' | ' | ' | ' | ' | ' | $172,289,000 | $100,582,000 | ' | $4,241,000 | $4,511,000 | ' |
Liability acquired | ' | ' | ' | ' | ' | ' | ' | 0 | 57,307,000 | ' | 0 | 0 | ' |
Service cost | ' | ' | ' | ' | 500,000 | 534,000 | ' | 2,346,000 | 2,139,000 | 784,000 | 0 | 0 | 0 |
Interest cost | ' | ' | ' | ' | 1,747,000 | 1,625,000 | ' | 6,209,000 | 6,330,000 | 4,568,000 | 152,000 | 172,000 | 215,000 |
Actuarial loss | ' | ' | ' | ' | ' | ' | ' | -18,972,000 | 13,121,000 | ' | -359,000 | -48,000 | ' |
Gross benefits paid | ' | ' | ' | ' | ' | ' | ' | -6,797,000 | -7,190,000 | ' | -394,000 | -394,000 | ' |
Net benefit obligation at end of year | 158,700,000 | ' | ' | ' | ' | ' | ' | 155,075,000 | 172,289,000 | 100,582,000 | 3,640,000 | 4,241,000 | 4,511,000 |
Change in plan assets: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of plan assets at beginning of year | ' | ' | ' | ' | ' | ' | ' | 121,887,000 | 75,710,000 | ' | 0 | 0 | ' |
Assets acquired | ' | ' | ' | ' | ' | ' | ' | 0 | 41,704,000 | ' | 0 | 0 | ' |
Actual return on plan assets | ' | ' | ' | ' | ' | ' | ' | 18,414,000 | 11,502,000 | ' | 0 | 0 | ' |
Employer contributions | 2,400,000 | ' | ' | ' | 600,000 | ' | ' | 645,000 | 161,000 | ' | 394,000 | 394,000 | ' |
Funded status at end of year | ' | ' | ' | ' | ' | ' | ' | -20,926,000 | -50,402,000 | ' | -3,640,000 | -4,241,000 | ' |
Fair value of plan assets at end of year | ' | ' | ' | ' | ' | ' | ' | 134,149,000 | 121,887,000 | 75,710,000 | 0 | 0 | 0 |
Amounts recognized in the accompanying balance sheet consist of: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Current liability | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | -390,000 | -390,000 | ' |
Noncurrent liability | ' | ' | ' | ' | ' | ' | ' | -20,926,000 | -50,401,000 | ' | -3,250,000 | -3,850,000 | ' |
Accumulated other comprehensive loss | 32,547,000 | 122,246,000 | 95,624,000 | 32,049,000 | ' | ' | ' | 11,045,000 | 43,037,000 | ' | 1,209,000 | 1,679,000 | ' |
Net amount recognized at end of year | ' | ' | ' | ' | ' | ' | ' | -9,881,000 | -7,364,000 | ' | -2,431,000 | -2,561,000 | ' |
Amounts recognized in accumulated other comprehensive loss consist of: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net actuarial loss | ' | ' | ' | ' | ' | ' | ' | 11,045,000 | 43,037,000 | ' | 1,209,000 | 1,679,000 | ' |
Accumulated other comprehensive loss (gain) | ' | ' | ' | ' | ' | ' | ' | 11,045,000 | 43,037,000 | ' | 1,209,000 | 1,679,000 | ' |
Defined Benefit Plan, Benefit Obligation, Period Increase (Decrease) | ' | ' | ' | ' | ' | ' | $30,100,000 | ' | ' | ' | ' | ' | ' |
PENSION_AND_OTHER_SAVINGS_PLAN
PENSION AND OTHER SAVINGS PLANS - Income Statement Disclosures (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||
Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Pension Benefits [Member] | Pension Benefits [Member] | SERP [Member] | SERP [Member] | SERP [Member] | Pension [Member] | Pension [Member] | Pension [Member] | |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Actuarial loss | ' | ' | $100,000 | ' | ' | $800,000 | ' | ' |
Components of net periodic benefit cost: | ' | ' | ' | ' | ' | ' | ' | ' |
Service cost | 500,000 | 534,000 | 0 | 0 | 0 | 2,346,000 | 2,139,000 | 784,000 |
Interest cost | 1,747,000 | 1,625,000 | 152,000 | 172,000 | 215,000 | 6,209,000 | 6,330,000 | 4,568,000 |
Expected return on plan assets | -2,154,000 | -2,060,000 | 0 | 0 | 0 | -8,770,000 | -8,241,000 | -5,218,000 |
Defined Benefit Plan Amortization Of Deferred Items | 359,000 | 741,000 | ' | ' | ' | ' | ' | ' |
Prior service cost (credit) | ' | ' | 0 | 0 | 5,000 | 0 | 0 | 0 |
Actuarial loss | ' | ' | 112,000 | 95,000 | 64,000 | 3,377,000 | 2,867,000 | 1,578,000 |
Total net periodic benefit cost | $452,000 | $840,000 | $264,000 | $267,000 | $284,000 | $3,162,000 | $3,095,000 | $1,712,000 |
PENSION_AND_OTHER_SAVING_PLANS2
PENSION AND OTHER SAVING PLANS - Assumptions Used (Details) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Pension [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Expected return on plan assets, percentage | 7.40% | 7.40% | 7.40% |
Pension [Member] | Minimum [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Rate used to determine benefit obligations as of the end of the year shown | 4.25% | 3.35% | ' |
Rate used to determine net periodic benefit cost for the year shown | 3.35% | 4.05% | 5.15% |
Pension [Member] | Maximum [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Rate used to determine benefit obligations as of the end of the year shown | 4.65% | 3.75% | ' |
Rate used to determine net periodic benefit cost for the year shown | 3.75% | 4.25% | 5.40% |
SERP [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Rate used to determine benefit obligations as of the end of the year shown | 4.65% | 3.75% | ' |
Rate used to determine net periodic benefit cost for the year shown | 3.75% | 4.25% | 5.40% |
PENSION_AND_OTHER_SAVING_PLANS3
PENSION AND OTHER SAVING PLANS - Information on Plan Assets (Details) (Pension [Member], USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Unrealized (loss) gain | $18,414 | $11,502 |
Fair Value [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Plan assets, ending balance | 134,149 | 121,887 |
Quoted prices in active markets for identical assets - Level 1 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Plan assets, ending balance | 2,717 | 13,796 |
Significant other observable inputs - Level 2 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Plan assets, ending balance | 131,182 | 107,477 |
Significant unobservable inputs, Level 3 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Plan assets, beginning balance | 614 | 1,050 |
Unrealized (loss) gain | 5 | 96 |
Settlements | -369 | -532 |
Plan assets, ending balance | 250 | 614 |
Large-cap pooled separate accounts [Member] | Fair Value [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Plan assets, ending balance | 48,983 | 50,589 |
Large-cap pooled separate accounts [Member] | Quoted prices in active markets for identical assets - Level 1 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Plan assets, ending balance | 0 | 0 |
Large-cap pooled separate accounts [Member] | Significant other observable inputs - Level 2 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Plan assets, ending balance | 48,983 | 50,589 |
Large-cap pooled separate accounts [Member] | Significant unobservable inputs, Level 3 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Plan assets, ending balance | 0 | 0 |
International blend [Member] | Fair Value [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Plan assets, ending balance | 18,191 | 10,294 |
International blend [Member] | Quoted prices in active markets for identical assets - Level 1 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Plan assets, ending balance | 0 | 0 |
International blend [Member] | Significant other observable inputs - Level 2 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Plan assets, ending balance | 18,191 | 10,294 |
International blend [Member] | Significant unobservable inputs, Level 3 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Plan assets, ending balance | 0 | 0 |
Fixed income domestic [Member] | Fair Value [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Plan assets, ending balance | 40,944 | 42,744 |
Fixed income domestic [Member] | Quoted prices in active markets for identical assets - Level 1 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Plan assets, ending balance | 0 | 0 |
Fixed income domestic [Member] | Significant other observable inputs - Level 2 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Plan assets, ending balance | 40,944 | 42,744 |
Fixed income domestic [Member] | Significant unobservable inputs, Level 3 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Plan assets, ending balance | 0 | 0 |
Fixed income long term [Member] | Fair Value [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Plan assets, ending balance | 17,797 | ' |
Fixed income long term [Member] | Quoted prices in active markets for identical assets - Level 1 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Plan assets, ending balance | 0 | ' |
Fixed income long term [Member] | Significant other observable inputs - Level 2 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Plan assets, ending balance | 17,797 | ' |
Fixed income long term [Member] | Significant unobservable inputs, Level 3 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Plan assets, ending balance | 0 | ' |
Stable value [Member] | Fair Value [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Plan assets, ending balance | 5,267 | 3,850 |
Stable value [Member] | Quoted prices in active markets for identical assets - Level 1 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Plan assets, ending balance | 0 | 0 |
Stable value [Member] | Significant other observable inputs - Level 2 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Plan assets, ending balance | 5,267 | 3,850 |
Stable value [Member] | Significant unobservable inputs, Level 3 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Plan assets, ending balance | 0 | 0 |
Debt securities funds [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Target asset allocation - minimum | 40.00% | ' |
Target asset allocation - maximum | 80.00% | ' |
Registered investment companies - growth fund [Member] | Fair Value [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Plan assets, ending balance | 0 | 10,295 |
Registered investment companies - growth fund [Member] | Quoted prices in active markets for identical assets - Level 1 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Plan assets, ending balance | 0 | 10,295 |
Registered investment companies - growth fund [Member] | Significant other observable inputs - Level 2 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Plan assets, ending balance | 0 | 0 |
Registered investment companies - growth fund [Member] | Significant unobservable inputs, Level 3 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Plan assets, ending balance | 0 | 0 |
Limited partnerships and limited liability companies [Member] | Fair Value [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Plan assets, ending balance | 250 | 614 |
Limited partnerships and limited liability companies [Member] | Quoted prices in active markets for identical assets - Level 1 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Plan assets, ending balance | 0 | 0 |
Limited partnerships and limited liability companies [Member] | Significant other observable inputs - Level 2 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Plan assets, ending balance | 0 | 0 |
Limited partnerships and limited liability companies [Member] | Significant unobservable inputs, Level 3 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Plan assets, ending balance | 250 | 614 |
Westmoreland Coal common stock [Member] | Fair Value [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Plan assets, ending balance | 2,255 | 3,500 |
Westmoreland Coal common stock [Member] | Quoted prices in active markets for identical assets - Level 1 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Plan assets, ending balance | 2,255 | 3,500 |
Westmoreland Coal common stock [Member] | Significant other observable inputs - Level 2 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Plan assets, ending balance | 0 | 0 |
Westmoreland Coal common stock [Member] | Significant unobservable inputs, Level 3 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Plan assets, ending balance | 0 | 0 |
Cash and cash equivalents | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Target asset allocation - minimum | 0.00% | ' |
Target asset allocation - maximum | 10.00% | ' |
Cash and cash equivalents | Fair Value [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Plan assets, ending balance | 462 | 1 |
Cash and cash equivalents | Quoted prices in active markets for identical assets - Level 1 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Plan assets, ending balance | 462 | 1 |
Cash and cash equivalents | Significant other observable inputs - Level 2 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Plan assets, ending balance | 0 | 0 |
Cash and cash equivalents | Significant unobservable inputs, Level 3 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Plan assets, ending balance | $0 | $0 |
Equity funds [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Target asset allocation - minimum | 20.00% | ' |
Target asset allocation - maximum | 60.00% | ' |
Other asset category [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Target asset allocation - minimum | 0.00% | ' |
Target asset allocation - maximum | 10.00% | ' |
PENSION_AND_OTHER_SAVING_PLANS4
PENSION AND OTHER SAVING PLANS - Multiemployer Plans (Details) (USD $) | Jan. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 |
In Millions, unless otherwise specified | WECO [Member] | WECO [Member] | WECO [Member] | WRI [Member] | WRI [Member] | WRI [Member] | WSC [Member] | WSC [Member] | WSC [Member] | Minimum [Member] | Maximum [Member] | |
WSC [Member] | WSC [Member] | |||||||||||
Multiemployer Plans [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Multiemployer Plans Funded Status Minimum Percentage | 80.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Multiemployer Plan Minimum Contribution Per Hour Worked | ' | 5.75 | ' | ' | 5.7 | ' | ' | ' | ' | ' | 2.95 | 3.2 |
Multiemployer Plan, Period Contributions | ' | $3.40 | $3.20 | $3.20 | $0.90 | $0.50 | $0.90 | $0.10 | $0.10 | $0.10 | ' | ' |
PENSION_AND_OTHER_SAVINGS_PLAN1
PENSION AND OTHER SAVINGS PLANS - Additional Information (Details) (USD $) | 12 Months Ended | 3 Months Ended | 12 Months Ended | 12 Months Ended | ||||
Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Jun. 28, 2012 | Jun. 28, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Pension Benefits [Member] | Pension Benefits [Member] | Pre-amendment [Member] | Post-amendment [Member] | 401-K [Member] | 401-K [Member] | 401-K [Member] | ||
Pension Benefits [Member] | Pension Benefits [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Defined benefit plan, number of continuous years of employment | '5 years | ' | ' | ' | ' | ' | ' | ' |
Term For Loan Covenant Criteria | ' | ' | '8 months 15 days | ' | ' | ' | ' | ' |
Expected contributions | ' | $3,700,000 | $4,300,000 | ' | ' | ' | ' | ' |
Debt covenants, minimum funding of pension plan (in percentage) | ' | ' | ' | 90.00% | 80.00% | ' | ' | ' |
Cash contributions | 1,200,000 | ' | 600,000 | ' | ' | ' | ' | ' |
Defined Contribution Plan, Cost Recognized | ' | ' | ' | ' | ' | 3,600,000 | 2,900,000 | 2,700,000 |
Employer contributions, common stock | 2,400,000 | 600,000 | ' | ' | ' | ' | ' | ' |
2014 - Pension | ' | ' | 7,324,000 | ' | ' | ' | ' | ' |
2015 - Pension | ' | ' | 7,772,000 | ' | ' | ' | ' | ' |
2016 - Pension | ' | ' | 8,238,000 | ' | ' | ' | ' | ' |
2017 - Pension | ' | ' | 9,066,000 | ' | ' | ' | ' | ' |
2018 - Pension | ' | ' | 9,321,000 | ' | ' | ' | ' | ' |
Years 2019 - 2023 - Pension | ' | ' | $50,340,000 | ' | ' | ' | ' | ' |
HERITAGE_HEALTH_BENEFIT_EXPENS2
HERITAGE HEALTH BENEFIT EXPENSES - Components of Costs of Benefits to Former Mining Operation Employees (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Heritage Health Benefit Expenses [Abstract] | ' | ' | ' | ' | ' |
Health care benefits | $2,276 | $3,176 | $12,579 | $11,367 | $9,507 |
Combined benefit fund payments | 512 | 576 | 2,240 | 2,258 | 2,617 |
Workers' compensation benefits | 136 | 116 | -1,212 | -1,322 | 2,132 |
Black lung benefits | 620 | 83 | -189 | 1,085 | 4,319 |
Total | $3,544 | $3,951 | $13,418 | $13,388 | $18,575 |
ASSET_RETIREMENT_OBLIGATIONS_C2
ASSET RETIREMENT OBLIGATIONS, CONTRACTUAL THIRD-PARTY RECLAMATION RECEIVABLES, AND RECLAMATION DEPOSITS - Summary of Asset Retirement Obligations, Contractual Third-Party Reclamation Receivables, and Reclamation Deposits (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Asset Retirement Obligation [Line Items] | ' | ' | ' | ' | ' |
Asset Retirement Obligation | $281,263,000 | $279,864,000 | $263,489,000 | $263,847,000 | $247,478,000 |
Contractual Third- Party Reclamation Receivable | 96,249,000 | 96,790,000 | ' | ' | ' |
Reclamation deposits | 75,315,000 | 74,921,000 | ' | 72,718,000 | ' |
Reclamation Obligations, Surety Bonds Outstanding | ' | 298,600,000 | ' | ' | ' |
Rosebud Mine | ' | ' | ' | ' | ' |
Asset Retirement Obligation [Line Items] | ' | ' | ' | ' | ' |
Asset Retirement Obligation | 127,989,000 | 126,965,000 | ' | ' | ' |
Contractual Third- Party Reclamation Receivable | 21,656,000 | 21,186,000 | ' | ' | ' |
Reclamation deposits | 75,315,000 | 74,921,000 | ' | ' | ' |
Jewett Mine | ' | ' | ' | ' | ' |
Asset Retirement Obligation [Line Items] | ' | ' | ' | ' | ' |
Asset Retirement Obligation | 74,247,000 | 75,267,000 | ' | ' | ' |
Contractual Third- Party Reclamation Receivable | 74,247,000 | 75,267,000 | ' | ' | ' |
Reclamation deposits | 0 | 0 | ' | ' | ' |
Absaloka Mine | ' | ' | ' | ' | ' |
Asset Retirement Obligation [Line Items] | ' | ' | ' | ' | ' |
Asset Retirement Obligation | 37,286,000 | 36,401,000 | ' | ' | ' |
Contractual Third- Party Reclamation Receivable | 346,000 | 337,000 | ' | ' | ' |
Reclamation deposits | 0 | 0 | ' | ' | ' |
Beulah Mine | ' | ' | ' | ' | ' |
Asset Retirement Obligation [Line Items] | ' | ' | ' | ' | ' |
Asset Retirement Obligation | 17,764,000 | 17,785,000 | ' | ' | ' |
Contractual Third- Party Reclamation Receivable | 0 | 0 | ' | ' | ' |
Reclamation deposits | 0 | 0 | ' | ' | ' |
Kemmerer Mine | ' | ' | ' | ' | ' |
Asset Retirement Obligation [Line Items] | ' | ' | ' | ' | ' |
Asset Retirement Obligation | 17,569,000 | 17,174,000 | ' | ' | ' |
Contractual Third- Party Reclamation Receivable | 0 | 0 | ' | ' | ' |
Reclamation deposits | 0 | 0 | ' | ' | ' |
Savage | ' | ' | ' | ' | ' |
Asset Retirement Obligation [Line Items] | ' | ' | ' | ' | ' |
Asset Retirement Obligation | 5,499,000 | 5,380,000 | ' | ' | ' |
Contractual Third- Party Reclamation Receivable | 0 | 0 | ' | ' | ' |
Reclamation deposits | 0 | 0 | ' | ' | ' |
ROVA | ' | ' | ' | ' | ' |
Asset Retirement Obligation [Line Items] | ' | ' | ' | ' | ' |
Asset Retirement Obligation | 909,000 | 892,000 | ' | ' | ' |
Contractual Third- Party Reclamation Receivable | 0 | 0 | ' | ' | ' |
Reclamation deposits | $0 | $0 | ' | ' | ' |
ASSET_RETIREMENT_OBLIGATIONS_C3
ASSET RETIREMENT OBLIGATIONS, CONTRACTUAL THIRD-PARTY RECLAMATION RECEIVABLES, AND RECLAMATION DEPOSITS - Changes in Company's Asset Retirement Obligations (Detail) (USD $) | 3 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 |
Asset Retirement Obligation Disclosure [Abstract] | ' | ' | ' | ' |
Asset retirement obligations, beginning of period | $279,864 | $263,847 | $263,847 | $247,478 |
Accretion | 5,836 | 5,481 | 21,905 | 21,909 |
Liabilities settled | -4,437 | -5,839 | -21,630 | -17,342 |
Changes due to amount and timing of reclamation | ' | ' | 15,742 | -7,575 |
ARO acquired | ' | ' | 0 | 19,377 |
Asset retirement obligations, end of period | 281,263 | 263,489 | 279,864 | 263,847 |
Less current portion | -22,227 | -23,154 | -23,353 | -22,238 |
Asset retirement obligations, less current portion | $259,036 | $240,335 | $256,511 | $241,609 |
ASSET_RETIREMENT_OBLIGATIONS_C4
ASSET RETIREMENT OBLIGATIONS, CONTRACTUAL THIRD-PARTY RECLAMATION RECEIVABLES, AND RECLAMATION DEPOSITS - Carrying Value and Estimated Fair Value of Reclamation Deposits (Detail) (USD $) | 3 Months Ended | |||
Dec. 31, 2011 | Mar. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Asset Retirement Obligation [Line Items] | ' | ' | ' | ' |
Reclamation deposits | ' | $75,315,000 | $74,921,000 | $72,718,000 |
Gain on available-for-sale securities held as reclamation deposits | 100,000 | ' | ' | ' |
Carrying Value [Member] | ' | ' | ' | ' |
Asset Retirement Obligation [Line Items] | ' | ' | ' | ' |
Reclamation deposits | ' | 75,315,000 | 74,921,000 | ' |
Carrying Value [Member] | Cash and cash equivalents | ' | ' | ' | ' |
Asset Retirement Obligation [Line Items] | ' | ' | ' | ' |
Reclamation deposits | ' | ' | 63,525,000 | ' |
Carrying Value [Member] | Held-to-maturity securities | ' | ' | ' | ' |
Asset Retirement Obligation [Line Items] | ' | ' | ' | ' |
Reclamation deposits | ' | ' | 11,396,000 | ' |
Fair Value [Member] | ' | ' | ' | ' |
Asset Retirement Obligation [Line Items] | ' | ' | ' | ' |
Reclamation deposits | ' | 76,028,000 | 75,611,000 | ' |
Fair Value [Member] | Cash and cash equivalents | ' | ' | ' | ' |
Asset Retirement Obligation [Line Items] | ' | ' | ' | ' |
Reclamation deposits | ' | ' | 63,525,000 | ' |
Fair Value [Member] | Held-to-maturity securities | ' | ' | ' | ' |
Asset Retirement Obligation [Line Items] | ' | ' | ' | ' |
Reclamation deposits | ' | ' | $12,086,000 | ' |
ASSET_RETIREMENT_OBLIGATIONS_C5
ASSET RETIREMENT OBLIGATIONS, CONTRACTUAL THIRD-PARTY RECLAMATION RECEIVABLES, AND RECLAMATION DEPOSITS - Amortized Cost, Gross Unrealized Holding Gains and Losses and Fair Value of Held-to-Maturity Securities (Detail) (Reclamation Deposits [Member], USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | |||
Reclamation Deposits [Member] | ' | ' | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' | ' | ' |
Amortized cost | $25,688 | $11,396 | $19,832 |
Gross unrealized holding gains | 826 | 764 | 1,190 |
Gross unrealized holding losses | -113 | -74 | -9 |
Fair value | $26,401 | $12,086 | $21,013 |
ASSET_RETIREMENT_OBLIGATIONS_C6
ASSET RETIREMENT OBLIGATIONS, CONTRACTUAL THIRD-PARTY RECLAMATION RECEIVABLES, AND RECLAMATION DEPOSITS - Maturities of Held-to-Maturity Securities (Detail) (Reclamation Deposits [Member], USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | |||
Reclamation Deposits [Member] | ' | ' | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' | ' | ' |
Within one year, Amortized cost | $479 | $17 | ' |
Due in five years or less, Amortized cost | 17,562 | 6,645 | ' |
Due after five years to ten years, Amortized cost | 4,869 | 3,002 | ' |
Due in more than ten years, Amortized cost | 2,778 | 1,732 | ' |
Maturities of held-to-maturity securities, Amortized cost | 25,688 | 11,396 | ' |
Within one year, Fair Value | 468 | 17 | ' |
Due in five years or less, Fair Value | 17,880 | 6,976 | ' |
Due after five years to ten years, Fair Value | 5,023 | 3,123 | ' |
Due in more than ten years, Fair Value | 3,030 | 1,970 | ' |
Fair value | $26,401 | $12,086 | $21,013 |
ASSET_RETIREMENT_OBLIGATIONS_C7
ASSET RETIREMENT OBLIGATIONS, CONTRACTUAL THIRD-PARTY RECLAMATION RECEIVABLES, AND RECLAMATION DEPOSITS - Cost Basis, Gross Unrealized Holding Gains and Fair Value of Available-for-Sale Securities (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | |||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' |
Reclamation deposits | $75,315 | $74,921 | $72,718 |
Reclamation Deposits [Member] | ' | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' |
Cost basis | ' | 0 | 1,000 |
Gross unrealized holding gains | ' | 0 | 39 |
Fair value | ' | ' | $1,039 |
ASSET_RETIREMENT_OBLIGATIONS_C8
ASSET RETIREMENT OBLIGATIONS, CONTRACTUAL THIRD-PARTY RECLAMATION RECEIVABLES, AND RECLAMATION DEPOSITS - Summary of Assets Retirement Obligations, Contractual Third-Party Reclamation Receivables, and Reclamation Deposits (Detail) (USD $) | 3 Months Ended | ||||
Dec. 31, 2011 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | |
Asset Retirement Obligation [Line Items] | ' | ' | ' | ' | ' |
Asset Retirement Obligation | $247,478,000 | $281,263,000 | $279,864,000 | $263,489,000 | $263,847,000 |
Contractual Third- Party Reclamation Receivable | ' | 96,249,000 | 96,790,000 | ' | ' |
Reclamation deposits | ' | 75,315,000 | 74,921,000 | ' | 72,718,000 |
Gain on available-for-sale securities held as reclamation deposits | 100,000 | ' | ' | ' | ' |
Rosebud Mine | ' | ' | ' | ' | ' |
Asset Retirement Obligation [Line Items] | ' | ' | ' | ' | ' |
Asset Retirement Obligation | ' | 127,989,000 | 126,965,000 | ' | ' |
Contractual Third- Party Reclamation Receivable | ' | 21,656,000 | 21,186,000 | ' | ' |
Reclamation deposits | ' | 75,315,000 | 74,921,000 | ' | ' |
Jewett Mine | ' | ' | ' | ' | ' |
Asset Retirement Obligation [Line Items] | ' | ' | ' | ' | ' |
Asset Retirement Obligation | ' | 74,247,000 | 75,267,000 | ' | ' |
Contractual Third- Party Reclamation Receivable | ' | 74,247,000 | 75,267,000 | ' | ' |
Reclamation deposits | ' | 0 | 0 | ' | ' |
Absaloka Mine | ' | ' | ' | ' | ' |
Asset Retirement Obligation [Line Items] | ' | ' | ' | ' | ' |
Asset Retirement Obligation | ' | 37,286,000 | 36,401,000 | ' | ' |
Contractual Third- Party Reclamation Receivable | ' | 346,000 | 337,000 | ' | ' |
Reclamation deposits | ' | 0 | 0 | ' | ' |
Beulah Mine | ' | ' | ' | ' | ' |
Asset Retirement Obligation [Line Items] | ' | ' | ' | ' | ' |
Asset Retirement Obligation | ' | 17,764,000 | 17,785,000 | ' | ' |
Contractual Third- Party Reclamation Receivable | ' | 0 | 0 | ' | ' |
Reclamation deposits | ' | 0 | 0 | ' | ' |
Kemmerer Mine | ' | ' | ' | ' | ' |
Asset Retirement Obligation [Line Items] | ' | ' | ' | ' | ' |
Asset Retirement Obligation | ' | 17,569,000 | 17,174,000 | ' | ' |
Contractual Third- Party Reclamation Receivable | ' | 0 | 0 | ' | ' |
Reclamation deposits | ' | 0 | 0 | ' | ' |
Savage | ' | ' | ' | ' | ' |
Asset Retirement Obligation [Line Items] | ' | ' | ' | ' | ' |
Asset Retirement Obligation | ' | 5,499,000 | 5,380,000 | ' | ' |
Contractual Third- Party Reclamation Receivable | ' | 0 | 0 | ' | ' |
Reclamation deposits | ' | 0 | 0 | ' | ' |
ROVA | ' | ' | ' | ' | ' |
Asset Retirement Obligation [Line Items] | ' | ' | ' | ' | ' |
Asset Retirement Obligation | ' | 909,000 | 892,000 | ' | ' |
Contractual Third- Party Reclamation Receivable | ' | 0 | 0 | ' | ' |
Reclamation deposits | ' | $0 | $0 | ' | ' |
DERIVATIVE_INSTRUMENTS_Income_
DERIVATIVE INSTRUMENTS - Income Expense (Details) (Not designated as hedging instrument, Convertible debt - conversion feature, Other Income, USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Not designated as hedging instrument | Convertible debt - conversion feature | Other Income | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' |
Income (expense) recognized in earnings on derivatives | $0 | $0 | $3,079 |
ASSET_RETIREMENT_OBLIGATIONS_C9
ASSET RETIREMENT OBLIGATIONS, CONTRACTUAL THIRD-PARTY RECLAMATION RECEIVABLES, AND RECLAMATION DEPOSITS - Carrying Value, Estimated Fair Value of Reclamation Deposits (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | |||
Asset Retirement Obligation [Line Items] | ' | ' | ' |
Reclamation deposits | $75,315 | $74,921 | $72,718 |
Carrying Value | ' | ' | ' |
Asset Retirement Obligation [Line Items] | ' | ' | ' |
Reclamation deposits | 75,315 | 74,921 | ' |
Carrying Value | Cash and cash equivalents | ' | ' | ' |
Asset Retirement Obligation [Line Items] | ' | ' | ' |
Reclamation deposits | ' | 63,525 | ' |
Carrying Value | Cash and cash equivalents | Level 1 | ' | ' | ' |
Asset Retirement Obligation [Line Items] | ' | ' | ' |
Reclamation deposits | 49,627 | ' | ' |
Carrying Value | Held-to-maturity securities | ' | ' | ' |
Asset Retirement Obligation [Line Items] | ' | ' | ' |
Reclamation deposits | ' | 11,396 | ' |
Carrying Value | Held-to-maturity securities | Level 2 | ' | ' | ' |
Asset Retirement Obligation [Line Items] | ' | ' | ' |
Reclamation deposits | 25,688 | ' | ' |
Fair Value | ' | ' | ' |
Asset Retirement Obligation [Line Items] | ' | ' | ' |
Reclamation deposits | 76,028 | 75,611 | ' |
Fair Value | Cash and cash equivalents | ' | ' | ' |
Asset Retirement Obligation [Line Items] | ' | ' | ' |
Reclamation deposits | ' | 63,525 | ' |
Fair Value | Cash and cash equivalents | Level 1 | ' | ' | ' |
Asset Retirement Obligation [Line Items] | ' | ' | ' |
Reclamation deposits | 49,627 | ' | ' |
Fair Value | Held-to-maturity securities | ' | ' | ' |
Asset Retirement Obligation [Line Items] | ' | ' | ' |
Reclamation deposits | ' | 12,086 | ' |
Fair Value | Held-to-maturity securities | Level 2 | ' | ' | ' |
Asset Retirement Obligation [Line Items] | ' | ' | ' |
Reclamation deposits | $26,401 | ' | ' |
DERIVATIVE_INSTRUMENTS_Details
DERIVATIVE INSTRUMENTS (Details) (Not Designated as Hedging Instrument [Member], Foreign Exchange Forward [Member], USD $) | 3 Months Ended |
Mar. 31, 2014 | |
Derivative [Line Items] | ' |
Derivative, Number of Instruments Held | 2 |
Derivative, Notional Amount | $348,300,000 |
Foreign Currency Gain (Loss) [Member] | ' |
Derivative [Line Items] | ' |
Income (expense) recognized in earnings on derivatives | -6,790,000 |
Other Current Assets [Member] | ' |
Derivative [Line Items] | ' |
Derivative Asset | 246,000 |
Other Current Liabilities [Member] | ' |
Derivative [Line Items] | ' |
Derivative Liability | ($7,036,000) |
FAIR_VALUE_MEASUREMENTS_Estima
FAIR VALUE MEASUREMENTS - Estimated Fair Values of Company's Debt (Detail) (Significant unobservable inputs, Level 3 [Member], USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | |||
Carrying Value [Member] | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' |
Debt | $777,670 | $328,473 | $345,408 |
Fair Value [Member] | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' |
Debt | $823,603 | $364,329 | $359,753 |
FAIR_VALUE_MEASUREMENTS_Summar
FAIR VALUE MEASUREMENTS - Summary of Financial Assets at Fair Value (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Available-for-sale investments included in Reclamation deposits | $75,315 | $74,921 | $72,718 |
Recurring [Member] | Quoted prices in active markets for identical assets - Level 1 [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Available-for-sale investments included in Restricted investments and bond collateral | ' | ' | 191 |
Available-for-sale investments included in Reclamation deposits | ' | 0 | 1,039 |
Total assets | ' | ' | 1,230 |
Recurring [Member] | Significant other observable inputs - Level 2 [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Available-for-sale investments included in Restricted investments and bond collateral | ' | ' | 0 |
Available-for-sale investments included in Reclamation deposits | ' | ' | 0 |
Total assets | ' | ' | 0 |
Recurring [Member] | Significant unobservable inputs, Level 3 [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Available-for-sale investments included in Restricted investments and bond collateral | ' | ' | 0 |
Available-for-sale investments included in Reclamation deposits | ' | ' | 0 |
Total assets | ' | ' | 0 |
Recurring [Member] | Fair Value [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Available-for-sale investments included in Restricted investments and bond collateral | ' | ' | 191 |
Available-for-sale investments included in Reclamation deposits | ' | ' | 1,039 |
Total assets | ' | ' | $1,230 |
RESTRICTED_STOCK_UNITS_STOCK_O2
RESTRICTED STOCK UNITS, STOCK OPTIONS, AND STOCK APPRECIATION RIGHTS (SARs) - Compensation Expense from Share-Based Arrangements (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ' | ' | ' | ' |
Recognition of fair value of restricted stock units, stock options, and stock appreciation rights over vesting period; and issuance of common stock | $728 | $1,663 | $2,967 | $3,088 | $1,969 |
Contributions of stock to the Company's 401(k) plan | 0 | 723 | 2,355 | 2,952 | 2,752 |
Total share-based compensation expense | $728 | $2,386 | $5,322 | $6,040 | $4,721 |
RESTRICTED_STOCK_UNITS_STOCK_O3
RESTRICTED STOCK UNITS, STOCK OPTIONS, AND STOCK APPRECIATION RIGHTS (SARs) - Summary of Restricted Stock Unit Activity (Detail) (Restricted Stock Units (RSUs) [Member], USD $) | 1 Months Ended | 3 Months Ended | 12 Months Ended | ||||
In Thousands, except Share data, unless otherwise specified | Apr. 30, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ||
Award vesting period | ' | ' | '3 years | ' | ' | ||
Units, Beginning Balance | ' | 588,727 | 680,185 | ' | ' | ||
Units, Granted | 54,730 | 0 | 103,730 | ' | ' | ||
Units, Vested | ' | 0 | -195,940 | ' | ' | ||
Units, Expired or forfeited | ' | ' | 0 | ' | ' | ||
Units, Ending Balance | ' | 588,727 | 588,727 | 680,185 | ' | ||
Weighted Average Grant Date Fair Value, Period Start (in USD per share) | ' | $9.37 | $8.88 | ' | ' | ||
Weighted Average Grant Date Fair Value, Granted (in USD per share) | ' | $0 | $11.70 | $7.57 | $14.99 | ||
Weighted Average Grant Date Fair Value, Vested (in USD per share) | ' | $0 | $8.62 | ' | ' | ||
Weighted Average Grant Date Fair Value, Expired or forfeited (in USD per share) | ' | ' | $0 | ' | ' | ||
Weighted Average Grant Date Fair Value, Period End (in USD per share) | ' | $9.37 | $9.37 | $8.88 | ' | ||
Unamortized Compensation Expense | ' | $1,618 | [1] | $2,346 | [1] | ' | ' |
Recognition period of unamortized compensation expense (in years) | ' | '3 years | '3 years | ' | ' | ||
Total grant-date fair value of Restricted Stock Units that vested | ' | ' | $1,689 | $1,336 | $1,757 | ||
Scenario, Previously Reported [Member] | ' | ' | ' | ' | ' | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ||
Units, Ending Balance | ' | ' | 587,975 | ' | ' | ||
Weighted Average Grant Date Fair Value, Period End (in USD per share) | ' | ' | $9.46 | ' | ' | ||
[1] | Expected to be recognized over the next three years. |
RESTRICTED_STOCK_UNITS_STOCK_O4
RESTRICTED STOCK UNITS, STOCK OPTIONS, AND STOCK APPRECIATION RIGHTS (SARs) - Summary of Stock Option Activity (Detail) (Stock Options [Member], USD $) | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Stock Options [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Award vesting period | ' | '3 years | ' | ' |
Outstanding at beginning of year (in shares) | 145,806 | 170,823 | ' | ' |
Expired or forfeited (in shares) | 0 | -25,017 | ' | ' |
Exercised (in shares) | 0 | ' | ' | ' |
Outstanding at end of year (in shares) | 145,806 | 145,806 | 170,823 | ' |
Exercisable at end of year, (in shares) | ' | 145,806 | ' | ' |
Outstanding at beginning of year, Weighted Average Exercise Price (in USD per share) | $21.97 | $21.30 | ' | ' |
Expired or forfeited, Weighted Average Exercise Price (in USD per share) | $0 | $17.41 | ' | ' |
Exercised, Weighted Average Exercise Price (in USD per share) | $0 | ' | ' | ' |
Outstanding at end of year, Weighted Average Exercise Price (in USD per share) | $21.97 | $21.97 | $21.30 | ' |
Exercisable at end of year, Weighted Average Exercise Price (in USD per share) | ' | $21,970 | ' | ' |
Options, Outstanding, Weighted Average Remaining Contractual Term (in years) | '4 years | '4 years 3 months 1 day | ' | ' |
Options, Exercisable, Weighted Average Remaining Contractual Term (in years) | '4 years | '4 years 3 months 1 day | ' | ' |
Aggregate Intrinsic Value, Exercises in period | ' | $0 | $0 | $86,000 |
Aggregate Intrinsic Value, Outstanding at end of year | 1,139,000 | 0 | ' | ' |
Aggregate Intrinsic Value, Exercisable at end of year | ' | 0 | ' | ' |
Outstanding and exercisable at end of year Unamortized Compensation Expense | 0 | 0 | ' | ' |
Total Grant-Date Fair Value of Stock Options that Vested | ' | $0 | $0 | $538,000 |
Life of award | ' | '10 years | ' | ' |
Shares, granted | 0 | ' | ' | ' |
RESTRICTED_STOCK_UNITS_STOCK_O5
RESTRICTED STOCK UNITS, STOCK OPTIONS, AND STOCK APPRECIATION RIGHTS (SARs) - Summary of Stock Appreciation Rights (Detail) (Stock Appreciation Rights (SARs) [Member], USD $) | 3 Months Ended | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Stock Appreciation Rights (SARs) [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Life of award | ' | '10 years | ' | ' |
Award vesting period | ' | '3 years | ' | ' |
Outstanding at beginning of year (in shares) | 70,734 | 70,734 | ' | ' |
Expired or forfeited (in shares) | 0 | 0 | ' | ' |
Outstanding at end of year (in shares) | 45,067 | 70,734 | 70,734 | ' |
Exercisable at end of year, (in shares) | ' | 70,734 | ' | ' |
Outstanding at beginning of year, Weighted Average Exercise Price (in USD per share) | $22.60 | $22.60 | ' | ' |
Expired or forfeited, Weighted Average Exercise Price (in USD per share) | $0 | $0 | ' | ' |
Exercised (in shares) | -25,667 | ' | ' | ' |
Exercised, Weighted Average Exercise Price (in USD per share) | $0 | ' | ' | ' |
Outstanding at end of year, Weighted Average Exercise Price (in USD per share) | $23.95 | $22.60 | $22.60 | ' |
Options, Outstanding, Weighted Average Remaining Contractual Term (in years) | '1 year 10 months 24 days | '1 year 8 months 12 days | ' | ' |
Options, Exercisable, Weighted Average Remaining Contractual Term (in years) | '1 year 10 months 24 days | ' | ' | ' |
Aggregate Intrinsic Value, Outstanding at end of year | $352 | $0 | ' | ' |
Outstanding and exercisable at end of year Unamortized Compensation Expense | 0 | 0 | ' | ' |
Total grant-date fair value of SARs that vested (less than $0.1 million in 2012 and 2011) | ' | ' | $100 | $100 |
Shares, granted | 0 | ' | ' | ' |
RESTRICTED_STOCK_UNITS_STOCK_O6
RESTRICTED STOCK UNITS, STOCK OPTIONS, AND STOCK APPRECIATION RIGHTS Additional Information (Details) (USD $) | 3 Months Ended | 1 Months Ended | 3 Months Ended | 12 Months Ended | 1 Months Ended | |||
Mar. 31, 2014 | Apr. 23, 2014 | Apr. 30, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Apr. 30, 2013 | Apr. 30, 2013 | |
Common Stock | Common Stock | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Amended And Restated 2007 Equity Incentive Stock Plan [Member] | Vesting Ratably Over Vesting Period [Member] | Performance Based [Member] | |
Subsequent Event | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Units, Granted | ' | ' | 54,730 | 0 | 103,730 | ' | 27,366 | 27,364 |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights | ' | ' | ' | ' | ' | ' | 'P3Y | 'three |
Non Employee Directors Annual Equity Awards Amount | ' | ' | ' | ' | ' | $7,000 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | ' | ' | ' | ' | ' | 49,050 | ' | ' |
Conversion of convertible notes and securities, shares | 264,641 | 53,486 | ' | ' | ' | ' | ' | ' |
STOCKHOLDERS_EQUITY_AND_ACCUMU2
STOCKHOLDERS' EQUITY AND ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Additional Information (Detail) (USD $) | 12 Months Ended | 3 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | |||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2012 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Apr. 23, 2014 | Dec. 31, 2012 |
Preferred Stock [Member] | Preferred Stock [Member] | Preferred Stock [Member] | Preferred Stock [Member] | Common Stock | ||||
Subsequent Event | ||||||||
Class of Stock [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock, par value (in USD per share) | $2.50 | $2.50 | $2.50 | ' | ' | ' | ' | ' |
Cumulative dividends paid on Series A Convertible Exchangeable Preferred Stock (in USD per share) | ' | ' | ' | $2.13 | $2.13 | ' | ' | ' |
Preferred Stock, Redemption value | ' | ' | ' | ' | $100 | ' | ' | ' |
Cumulative dividends paid on Series A Convertible Exchangeable Preferred Stock | $19.90 | ' | ' | ' | ' | ' | ' | ' |
Conversion of Stock, Shares Converted | ' | ' | ' | 38,737 | ' | 169 | 7,830 | ' |
Conversion of Stock, Shares Issued | ' | ' | ' | ' | ' | ' | ' | 1,152 |
STOCKHOLDERS_EQUITY_AND_ACCUMU3
STOCKHOLDERS' EQUITY AND ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Accumulated Other Comprehensive Income (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Equity [Abstract] | ' | ' | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net of Tax | ' | ' | ($32,547) | ($122,246) | ($95,624) | ($32,049) |
Accumulated Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax | ' | ' | 0 | 57 | 325 | 525 |
Accumulated Other Comprehensive Income Tax Effect of Other Comprehensive Income Gains | ' | ' | -31,048 | -26,156 | -26,156 | -26,156 |
Accumulated Other Comprehensive Income (Loss), Net of Tax | -63,369 | ' | -63,595 | -148,345 | -121,455 | -57,680 |
Other Comprehensive Income Loss Pension And Postretirement Medical Benefits Adjustment | ' | ' | 89,699 | -26,622 | -63,575 | ' |
Unrealized and realized gains and losses on available-for-sale securities | ' | ' | -57 | -268 | -200 | ' |
Tax effect of other comprehensive income gains | -138 | 0 | -4,892 | 0 | 0 | ' |
Other comprehensive income (loss) | $226 | $1,742 | $84,750 | ($26,890) | ($63,775) | ' |
STOCKHOLDERS_EQUITY_AND_ACCUMU4
STOCKHOLDERS' EQUITY AND ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Changes in Accumulated Other Comprehensive Income by component (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2011 | Dec. 31, 2010 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Balance at beginning of period | ($63,595) | ($148,345) | ($121,455) | ($57,680) |
Other comprehensive income before reclassifications | -138 | 77,267 | ' | ' |
Amounts reclassified from accumulated other comprehensive income (loss) | 364 | 7,483 | ' | ' |
Balance at end of period | -63,369 | -63,595 | -121,455 | -57,680 |
Accumulated Net Unrealized Investment Gain (Loss) [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Balance at beginning of period | ' | 57 | ' | ' |
Other comprehensive income before reclassifications | ' | -45 | ' | ' |
Amounts reclassified from accumulated other comprehensive income (loss) | ' | -12 | ' | ' |
Balance at end of period | ' | 0 | ' | ' |
Tax Effect of Other Comprehensive Income Gains [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Balance at beginning of period | -31,048 | -26,156 | ' | ' |
Other comprehensive income before reclassifications | -138 | -4,892 | ' | ' |
Balance at end of period | -31,186 | -31,048 | ' | ' |
Accumulated Defined Benefit Plans Adjustment [Member] | Postretirement Medical Benefits [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Balance at beginning of period | -20,292 | -77,527 | ' | ' |
Other comprehensive income before reclassifications | ' | 53,230 | ' | ' |
Amounts reclassified from accumulated other comprehensive income (loss) | 5 | 4,005 | ' | ' |
Balance at end of period | -20,287 | -20,292 | ' | ' |
Accumulated Defined Benefit Plans Adjustment [Member] | Pension Benefits [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Balance at beginning of period | -12,255 | -44,719 | ' | ' |
Other comprehensive income before reclassifications | ' | 28,974 | ' | ' |
Amounts reclassified from accumulated other comprehensive income (loss) | 359 | 3,490 | ' | ' |
Balance at end of period | ($11,896) | ($12,255) | ' | ' |
STOCKHOLDERS_EQUITY_AND_ACCUMU5
STOCKHOLDERS' EQUITY AND ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Changes in Accumulated Other Comprehensive Income (Details) (USD $) | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | ||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | ||||||
Accumulated Net Unrealized Investment Gain (Loss) [Member] | Other Income | Postretirement Medical Benefits [Member] | Postretirement Medical Benefits [Member] | Pension Benefits [Member] | Pension Benefits [Member] | ||||||||||
Accumulated Net Unrealized Investment Gain (Loss) [Member] | Accumulated Defined Benefit Plans Adjustment [Member] | Accumulated Defined Benefit Plans Adjustment [Member] | Accumulated Defined Benefit Plans Adjustment [Member] | Accumulated Defined Benefit Plans Adjustment [Member] | |||||||||||
Reclassification out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Other Comprehensive Income (Loss), Reclassification Adjustment for Sale of Securities Included in Net Income, before Tax | ' | ' | ' | ' | ($12) | [1] | ' | ' | ' | ' | |||||
Unrealized and realized gains and losses on available-for-sale securities | -57 | -268 | -200 | -12 | [1] | ' | ' | ' | ' | ' | |||||
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income (Loss), Net Gain (Loss), before Tax | ' | ' | ' | ' | ' | 164 | [1],[2] | 4,641 | [1],[3] | 359 | [1],[4] | 3,490 | [1],[5] | ||
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income (Loss), Net Prior Service Cost, before Tax | ' | ' | ' | ' | ' | -159 | [1],[2] | -636 | [1],[3] | ' | ' | ||||
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, before Tax | ' | ' | ' | ' | ' | $5 | [1] | $4,005 | [1] | ' | ' | ||||
[1] | Amounts in parentheses indicate debits to income/loss. | ||||||||||||||
[2] | These accumulated other comprehensive loss components are included in the computation of net periodic postretirement medical cost. (See Note 5 - Postretirement Medical Benefits for additional details) | ||||||||||||||
[3] | These accumulated other comprehensive income components are included in the computation of net periodic postretirement medical cost. | ||||||||||||||
[4] | These accumulated other comprehensive loss components are included in the computation of net periodic pension cost. (See Note 5 - Pension for additional details) | ||||||||||||||
[5] | These accumulated other comprehensive income components are included in the computation of net periodic pension cost. |
INCOME_TAX_Components_of_Incom
INCOME TAX - Components of Income Tax (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Current: | ' | ' | ' | ' | ' |
Current federal taxes | ' | ' | ($2) | ($8) | ($174) |
Current state taxes | ' | ' | 112 | 98 | 168 |
Current tax expense (benefit) | ' | ' | 110 | 90 | -6 |
Deferred: | ' | ' | ' | ' | ' |
Deferred federal taxes | ' | ' | -4,189 | 0 | 0 |
Deferred state taxes | ' | ' | -703 | 0 | -420 |
Deferred tax expense (benefit) | ' | ' | -4,892 | 0 | -420 |
Income tax benefit | ($110) | $28 | ($4,782) | $90 | ($426) |
INCOME_TAX_Reconciliation_of_E
INCOME TAX - Reconciliation of Effective Tax Rate (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' | ' |
Computed tax benefit at statutory rate | ' | ' | ($4,389) | ($4,615) | ($12,683) |
Increase (decrease) in tax expense resulting from: | ' | ' | ' | ' | ' |
Tax depletion in excess of basis | ' | ' | -6,187 | -4,782 | -3,820 |
Non-deductible interest expense and convertible debt valuation | ' | ' | 0 | 0 | 3,717 |
Noncontrolling interest | ' | ' | 1,167 | 2,188 | 1,283 |
State income taxes, net | ' | ' | -2,506 | -3,427 | -4,548 |
Change in valuation allowance for net deferred tax assets | ' | ' | 15 | 8,571 | 2,923 |
Indian Coal Tax Credits | ' | ' | 92 | 83 | -122 |
Federal and state NOL expiration | ' | ' | 0 | 153 | 11,226 |
Income Tax Reconciliation Change in State Effective Tax Rate | ' | ' | 6,202 | 2,049 | 1,310 |
Other, net | ' | ' | 824 | -130 | 288 |
Income tax benefit | ($110) | $28 | ($4,782) | $90 | ($426) |
INCOME_TAX_Components_of_Defer
INCOME TAX - Components of Deferred Tax Assets And Liabilities (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Deferred tax assets: | ' | ' |
Federal net operating loss carryforwards | $89,698 | $84,330 |
State net operating loss carryforwards | 26,509 | 28,700 |
Alternative minimum tax credit carryforwards | 7,179 | 6,973 |
Charitable contribution carryforwards | 146 | 132 |
Indian Coal Tax Credit carryforwards | 25,499 | 25,591 |
Accruals for the following: | ' | ' |
Workersb compensation | 2,726 | 3,592 |
Postretirement medical benefit and pension obligations | 106,912 | 138,710 |
Incentive plans | 1,606 | 1,995 |
Asset retirement obligations | 68,989 | 77,698 |
Deferred revenues | 18,919 | 22,500 |
Excess of pneumoconiosis benefit obligation over trust assets | 3,262 | 3,185 |
Acquisition Costs | 1,276 | 198 |
Restructuring | 1,909 | 0 |
Other accruals | 6,656 | 6,035 |
Total gross deferred assets | 361,286 | 399,639 |
Less valuation allowance | -264,464 | -293,504 |
Net deferred tax assets | 96,822 | 106,135 |
Deferred tax liabilities: | ' | ' |
Property, plant and equipment, differences due to depreciation and amortization | -94,868 | -104,992 |
Other | -1,954 | -1,143 |
Total gross deferred tax liabilities | -96,822 | -106,135 |
Net deferred tax asset | $0 | $0 |
INCOME_TAX_Summary_of_Federal_
INCOME TAX - Summary of Federal Net Operating Loss Carryforwards (Details) (Federal [Member], USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Operating Loss Carryforwards [Line Items] | ' |
Net operating loss carryforwards | $264,922 |
2018 [Member] | ' |
Operating Loss Carryforwards [Line Items] | ' |
Net operating loss carryforwards | 28 |
2019 [Member] | ' |
Operating Loss Carryforwards [Line Items] | ' |
Net operating loss carryforwards | 88,429 |
2020 [Member] | ' |
Operating Loss Carryforwards [Line Items] | ' |
Net operating loss carryforwards | 32 |
2021 [Member] | ' |
Operating Loss Carryforwards [Line Items] | ' |
Net operating loss carryforwards | 20 |
After 2022 [Member] | ' |
Operating Loss Carryforwards [Line Items] | ' |
Net operating loss carryforwards | $176,413 |
INCOME_TAX_Additional_Informat
INCOME TAX - Additional Information (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Income Tax Disclosure [Abstract] | ' | ' |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate | 34.00% | ' |
Possible Reduction To Deferred Tax Asset, Tax Effected | $4,500,000 | ' |
Indian Coal Tax Credit carryforwards | 25,499,000 | 25,591,000 |
Alternative minimum tax credit carryforwards | 7,179,000 | 6,973,000 |
State and Local Jurisdiction [Member] | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' |
Net operating loss carryforwards | $701,000,000 | ' |
INCOME_TAX_Income_tax_benefit_
INCOME TAX - Income tax benefit on amounts recognized in OCI (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' | ' |
Pre allocation | ' | ' | $110 | $90 | ($6) |
Tax allocation | ' | ' | -4,892 | 0 | -420 |
Income tax expense (benefit) | -110 | 28 | -4,782 | 90 | -426 |
Comprehensive Income, Tax | ' | ' | 110 | ' | ' |
Other comprehensive income, pension before tax | ' | ' | 32,464 | ' | ' |
Other comprehensive income, post retirement benefits before tax | ' | ' | 57,235 | ' | ' |
Unrealized and realized gains and losses on available-for-sale securities | ' | ' | -57 | -268 | -200 |
Other comprehensive income before tax | ' | ' | 89,642 | ' | ' |
Pension, tax | ' | ' | 1,772 | ' | ' |
Post retirement benefits, tax | ' | ' | 3,123 | ' | ' |
Unrealized gain (loss) on securities, tax | ' | ' | -3 | ' | ' |
Tax effect of other comprehensive income gains | $138 | $0 | $4,892 | $0 | $0 |
COMMITMENTS_AND_CONTINGENCIES_1
COMMITMENTS AND CONTINGENCIES - Purchase Commitments (Details) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2013 |
gal | |
Purchase Commitment, Excluding Long-term Commitment [Line Items] | ' |
Minimum annual purchase requirement (in gallons of diesel fuel) | 4,000,000 |
Coal Supply Agreements [Member] | ' |
Purchase Commitment, Excluding Long-term Commitment [Line Items] | ' |
Number of Agreements | 2 |
Purchase obligation due in next fiscal year | 17.9 |
Purchase obligation due in seond fiscal year | 2.9 |
EARNINGS_PER_SHARE_Antidilutiv
EARNINGS PER SHARE - Antidilutive securities excluded from the computation of earnings per share (Details) | 3 Months Ended | 12 Months Ended | |||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Class of Stock [Line Items] | ' | ' | ' | ' | ' |
Shares excluded from diluted shares calculation | 1,607 | 2,071 | 1,898 | 2,071 | 1,727 |
Convertible securities | ' | ' | ' | ' | ' |
Class of Stock [Line Items] | ' | ' | ' | ' | ' |
Shares excluded from diluted shares calculation | 828 | 1,093 | ' | ' | ' |
Restricted stock units, stock options and SARs | ' | ' | ' | ' | ' |
Class of Stock [Line Items] | ' | ' | ' | ' | ' |
Shares excluded from diluted shares calculation | 779 | 978 | ' | ' | ' |
COMMITMENTS_AND_CONTINGENCIES_2
COMMITMENTS AND CONTINGENCIES - Leases (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Future minimum capital lease payments: | ' | ' | ' |
2014 | $5,949,000 | ' | ' |
2015 | 2,419,000 | ' | ' |
2016 | 1,548,000 | ' | ' |
2017 | 495,000 | ' | ' |
2018 | 316,000 | ' | ' |
Thereafter | 0 | ' | ' |
Total minimum lease payments | 10,727,000 | ' | ' |
Less imputed interest | -574,000 | ' | ' |
Present value of minimum capital lease payments | 10,153,000 | ' | ' |
Future minimum operating lease payments: | ' | ' | ' |
2014 | 7,896,000 | ' | ' |
2015 | 5,156,000 | ' | ' |
2016 | 2,584,000 | ' | ' |
2017 | 1,256,000 | ' | ' |
2018 | 515,000 | ' | ' |
Thereafter | 0 | ' | ' |
Total | 17,407,000 | ' | ' |
Rental expense under operating leases | 11,800,000 | 9,500,000 | 7,700,000 |
Royalty expense, coal reserves | 43,600,000 | 40,100,000 | 38,800,000 |
Property, plant and equipment and mine development assets [Member] | ' | ' | ' |
Gross value and accumulated amortization of assets under capital leases: | ' | ' | ' |
Gross value | 24,982,000 | 34,677,000 | ' |
Accumulated amortization | $11,983,000 | $15,887,000 | ' |
BUSINESS_SEGMENT_INFORMATION_S
BUSINESS SEGMENT INFORMATION - Summarized Financial Information by Segment (Detail) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
segments | segments | |||||||||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Reportable Segments | 4 | ' | ' | ' | ' | ' | ' | ' | ' | 4 | ' | ' |
Revenues | $180,202 | ' | ' | ' | $161,448 | ' | ' | ' | ' | $674,686 | $600,437 | $501,713 |
Restructuring charges | 397 | ' | ' | ' | 0 | ' | ' | ' | ' | 5,078 | 0 | 0 |
Operating income (loss) | 8,053 | -883 | 8,536 | 11,975 | 5,734 | 8,597 | 15,451 | -4,262 | 9,086 | 25,362 | 28,872 | 10,626 |
Depreciation, depletion, and amortization | 16,059 | ' | ' | ' | 14,426 | ' | ' | ' | ' | 67,231 | 57,145 | 45,594 |
Total assets | 1,407,147 | 946,685 | ' | ' | 943,015 | 936,115 | ' | ' | ' | 946,685 | 936,115 | 759,172 |
Capital expenditures | 3,050 | ' | ' | ' | 5,301 | ' | ' | ' | ' | 28,591 | 21,032 | 27,594 |
Coal Segment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | 158,190 | ' | ' | ' | 142,112 | ' | ' | ' | ' | 587,119 | 519,152 | 414,928 |
Restructuring charges | 0 | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Operating income (loss) | 13,447 | ' | ' | ' | 13,472 | ' | ' | ' | ' | 44,471 | 48,235 | 27,453 |
Depreciation, depletion, and amortization | 13,459 | ' | ' | ' | 11,801 | ' | ' | ' | ' | 56,698 | 46,639 | 35,112 |
Total assets | 697,916 | 705,816 | ' | ' | 711,128 | 703,315 | ' | ' | ' | 705,816 | 703,315 | 510,507 |
Capital expenditures | 3,053 | ' | ' | ' | 5,010 | ' | ' | ' | ' | 27,064 | 18,804 | 24,678 |
Power [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | 22,012 | ' | ' | ' | 19,336 | ' | ' | ' | ' | 87,567 | 81,285 | 86,785 |
Restructuring charges | 397 | ' | ' | ' | ' | ' | ' | ' | ' | 5,078 | ' | ' |
Operating income (loss) | 1,744 | ' | ' | ' | -1,003 | ' | ' | ' | ' | 4,907 | 8,244 | 12,119 |
Depreciation, depletion, and amortization | 2,524 | ' | ' | ' | 2,531 | ' | ' | ' | ' | 10,179 | 10,085 | 10,176 |
Total assets | 167,998 | 180,684 | ' | ' | 186,309 | 189,599 | ' | ' | ' | 180,684 | 189,599 | 194,730 |
Capital expenditures | 35 | ' | ' | ' | 134 | ' | ' | ' | ' | 790 | 2,070 | 2,119 |
Heritage [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | 0 | ' | ' | ' | 0 | ' | ' | ' | ' | 0 | 0 | 0 |
Restructuring charges | 0 | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Operating income (loss) | -3,830 | ' | ' | ' | -4,175 | ' | ' | ' | ' | -14,498 | -14,711 | -19,675 |
Depreciation, depletion, and amortization | 0 | ' | ' | ' | 0 | ' | ' | ' | ' | 0 | 0 | 0 |
Total assets | 15,622 | 15,497 | ' | ' | 15,877 | 15,508 | ' | ' | ' | 15,497 | 15,508 | 13,769 |
Capital expenditures | 0 | ' | ' | ' | 0 | ' | ' | ' | ' | 0 | 0 | 0 |
Corporate [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | 0 | ' | ' | ' | 0 | ' | ' | ' | ' | 0 | 0 | 0 |
Restructuring charges | 0 | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Operating income (loss) | -3,308 | ' | ' | ' | -2,560 | ' | ' | ' | ' | -9,518 | -12,896 | -9,271 |
Depreciation, depletion, and amortization | 76 | ' | ' | ' | 94 | ' | ' | ' | ' | 354 | 421 | 306 |
Total assets | 525,611 | 44,688 | ' | ' | 29,701 | 27,693 | ' | ' | ' | 44,688 | 27,693 | 40,166 |
Capital expenditures | ($38) | ' | ' | ' | $157 | ' | ' | ' | ' | $737 | $158 | $797 |
BUSINESS_SEGMENT_INFORMATION_R
BUSINESS SEGMENT INFORMATION - Reconciliation of Segment Operating Income to Income (Loss) (Detail) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Segment Reporting [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income (loss) from operations | $8,053 | ($883) | $8,536 | $11,975 | $5,734 | $8,597 | $15,451 | ($4,262) | $9,086 | $25,362 | $28,872 | $10,626 |
Loss on extinguishment of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | -64 | -1,986 | -17,030 |
Interest expense | -20,798 | ' | ' | ' | -10,160 | ' | ' | ' | ' | -39,937 | -42,677 | -29,769 |
Interest income | 302 | ' | ' | ' | 297 | ' | ' | ' | ' | 1,366 | 1,496 | 1,444 |
Other income (loss) | 93 | ' | ' | ' | 70 | ' | ' | ' | ' | 364 | 723 | -2,572 |
Loss before income taxes | ($19,140) | ' | ' | ' | ($4,059) | ' | ' | ' | ' | ($12,909) | ($13,572) | ($37,301) |
BUSINESS_SEGMENT_INFORMATION_C
BUSINESS SEGMENT INFORMATION - Customer Concentration Disclosures (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Revenue, Major Customer [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Revenues | $180,202 | $173,947 | $176,792 | $162,499 | $161,448 | $159,027 | $161,332 | $132,842 | $147,236 | $674,686 | $600,437 | $501,713 | |||
Total Revenue [Member] | Customer Concentration Risk [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Revenue, Major Customer [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Concentration Risk, Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | 77.00% | 80.00% | 81.00% | |||
Customer A [Member] | Coal Segment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Revenue, Major Customer [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | 117,545 | 126,982 | 120,243 | |||
Customer B [Member] | Coal Segment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Revenue, Major Customer [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | 112,061 | [1] | 96,718 | [1] | 0 | [1] |
Customer C [Member] | Coal Segment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Revenue, Major Customer [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | 89,266 | 81,981 | 81,353 | |||
Customer D [Member] | Power [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Revenue, Major Customer [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | 86,390 | 80,109 | 85,639 | |||
Customer E [Member] | Coal Segment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Revenue, Major Customer [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | 85,929 | 66,128 | 65,224 | |||
Customer F [Member] | Coal Segment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Revenue, Major Customer [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | $25,958 | [2] | $26,525 | [2] | $52,835 | [2] |
[1] | The revenue from Customer B did not exceed 10% in 2011 | ||||||||||||||
[2] | The revenue from Customer F did not exceed 10% in |
QUARTERLY_FINANCIAL_DATA_UNAUD2
QUARTERLY FINANCIAL DATA (UNAUDITED) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Quarterly Financial Information Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | $180,202 | $173,947 | $176,792 | $162,499 | $161,448 | $159,027 | $161,332 | $132,842 | $147,236 | $674,686 | $600,437 | $501,713 |
Operating income (loss) | 8,053 | -883 | 8,536 | 11,975 | 5,734 | 8,597 | 15,451 | -4,262 | 9,086 | 25,362 | 28,872 | 10,626 |
Net Income (loss) applicable to common shareholders | ($19,291) | ($5,131) | $2,421 | ($622) | ($2,725) | ($3,963) | $7,282 | ($12,423) | $518 | ($6,057) | ($8,586) | ($34,460) |
Basic income (loss) per common share | ' | ($0.35) | $0.17 | ($0.04) | ($0.19) | ($0.28) | $0.52 | ($0.89) | $0.04 | ' | ' | ' |
QUARTERLY_FINANCIAL_DATA_UNAUD3
QUARTERLY FINANCIAL DATA (UNAUDITED) - Additional information (Details) (USD $) | 3 Months Ended | |||
In Millions, unless otherwise specified | Dec. 31, 2013 | Mar. 31, 2012 | Dec. 31, 2012 | Jun. 30, 2012 |
Kemmerer Mine | Kemmerer Mine | Kemmerer Mine | ||
Other information: | ' | ' | ' | ' |
Deferred revenue | ' | ' | $2.20 | $2.20 |
Expected increase in revenues and operating income | ' | 1.3 | ' | ' |
Depreciation | $1.50 | ' | ' | ' |
SUPPLEMENTAL_CONSOLIDATING_FIN2
SUPPLEMENTAL CONSOLIDATING FINANCIAL INFORMATION - Supplemental Consolidating Balance Sheet Information (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
In Thousands, unless otherwise specified | ||||||
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' |
Long-term Debt and Capital Lease Obligations, Current | $48,586 | $44,343 | ' | $23,791 | ' | ' |
Current assets: | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | 61,900 | 61,110 | 40,852 | 31,610 | 30,783 | 5,775 |
Receivables: | ' | ' | ' | ' | ' | ' |
Trade | 64,715 | 66,196 | ' | 60,037 | ' | ' |
Contractual third-party reclamation receivables | 8,213 | 8,487 | ' | 10,207 | ' | ' |
Intercompany receivable/payable | 0 | 0 | ' | 0 | ' | ' |
Other | 1,375 | 5,086 | ' | 3,220 | ' | ' |
Total receivables | 74,303 | 79,769 | ' | 73,464 | ' | ' |
Inventories | 35,447 | 39,972 | ' | 37,734 | ' | ' |
Deferred income taxes | ' | 0 | ' | ' | ' | ' |
Restricted investments and bond collateral | 16,900 | 5,998 | ' | 0 | ' | ' |
Other current assets | 16,643 | 18,190 | ' | 16,504 | ' | ' |
Total current assets | 205,193 | 205,039 | ' | 159,312 | ' | ' |
Property, plant and equipment: | ' | ' | ' | ' | ' | ' |
Land and mineral rights | 278,198 | 278,188 | ' | 261,741 | ' | ' |
Plant and equipment | 673,189 | 657,696 | ' | 635,720 | ' | ' |
Gross property, plant and equipment | 951,387 | 935,884 | ' | 897,461 | ' | ' |
Less accumulated depreciation, depletion and amortization | 461,754 | 445,848 | ' | 384,621 | ' | ' |
Net property, plant and equipment | 489,633 | 490,036 | ' | 512,840 | ' | ' |
Advanced coal royalties | 7,263 | 7,311 | ' | 4,316 | ' | ' |
Reclamation deposits | 75,315 | 74,921 | ' | 72,718 | ' | ' |
Restricted investments and bond collateral | 523,483 | 69,235 | ' | 87,209 | ' | ' |
Contractual third-party reclamation receivables, less current portion | 88,036 | 88,303 | ' | 84,158 | ' | ' |
Intangible assets | 1,099 | 1,520 | ' | 3,203 | ' | ' |
Investment in subsidiaries | 0 | 0 | ' | 0 | ' | ' |
Other assets | 17,125 | 10,320 | ' | 12,359 | ' | ' |
Total Assets | 1,407,147 | 946,685 | 943,015 | 936,115 | 759,172 | ' |
Accounts payable and accrued expenses: | ' | ' | ' | ' | ' | ' |
Total current liabilities | 235,686 | 213,028 | ' | 170,912 | ' | ' |
Shareholders' deficit: | ' | ' | ' | ' | ' | ' |
Common stock | 37,155 | 36,479 | ' | 35,502 | ' | ' |
Other paid-in capital | 134,952 | 134,861 | ' | 130,852 | ' | ' |
Accumulated other comprehensive loss | -63,369 | -63,595 | ' | -148,345 | -121,455 | -57,680 |
Accumulated earnings (deficit) | -315,075 | -295,784 | ' | -289,727 | ' | ' |
Total Westmoreland Coal Company shareholders' deficit | -206,216 | -187,879 | ' | -271,558 | ' | ' |
Noncontrolling interest | ' | 0 | ' | -14,673 | ' | ' |
Total equity (deficit) | -206,216 | -187,879 | ' | -286,231 | -249,858 | -162,355 |
Total Liabilities and Shareholders' Deficit | 1,407,147 | 946,685 | ' | 936,115 | ' | ' |
Accounts Payable and Other Accrued Liabilities, Current | 62,598 | 57,507 | ' | 52,093 | ' | ' |
Production Taxes | 46,794 | 41,905 | ' | 33,228 | ' | ' |
Workers' Compensation Liability, Current | 712 | 717 | ' | 820 | ' | ' |
Postretirement Medical Benefits Current | 13,955 | 13,955 | ' | 14,068 | ' | ' |
Supplemental Executive Retirement Plan Current | 390 | 390 | ' | 390 | ' | ' |
Deferred Revenue, Current | 16,034 | 14,068 | ' | 12,822 | ' | ' |
Asset Retirement Obligation, Current | 22,227 | 23,353 | 23,154 | 22,238 | ' | ' |
Other Sundry Liabilities, Current | 24,390 | 16,790 | ' | 11,462 | ' | ' |
Long-term debt, less current installments | 751,645 | 295,494 | ' | 337,198 | ' | ' |
Workers' Compensation Liability, Noncurrent | 6,680 | 6,744 | ' | 8,710 | ' | ' |
Excess of black lung benefit obligation over trust assets | 9,376 | 8,675 | ' | 8,356 | ' | ' |
Other Postretirement Defined Benefit Plan, Liabilities, Noncurrent | 271,275 | 270,374 | ' | 319,775 | ' | ' |
Defined Benefit Pension Plan, Liabilities, Noncurrent | 23,524 | 24,176 | ' | 54,250 | ' | ' |
Deferred Revenue, Noncurrent | 43,299 | 46,567 | ' | 56,891 | ' | ' |
Asset Retirement Obligations, Noncurrent | 259,036 | 256,511 | 240,335 | 241,609 | ' | ' |
Intangible Liabilities Non Current | 5,339 | 5,606 | ' | 6,625 | ' | ' |
Other Liabilities, Noncurrent | 7,503 | 7,389 | ' | 18,020 | ' | ' |
Intercompany Payable | 0 | 0 | ' | 0 | ' | ' |
Liabilities | 1,613,363 | 1,134,564 | ' | 1,222,346 | ' | ' |
Preferred Stock, Value, Issued | 121 | 160 | ' | 160 | ' | ' |
Parent Company [Member] | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' |
Long-term Debt and Capital Lease Obligations, Current | ' | 20,392 | ' | -1,548 | ' | ' |
Current assets: | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | 28,759 | 25,326 | 10,971 | 14,836 | 26,140 | 271 |
Receivables: | ' | ' | ' | ' | ' | ' |
Trade | ' | 0 | ' | 0 | ' | ' |
Contractual third-party reclamation receivables | ' | 0 | ' | 0 | ' | ' |
Intercompany receivable/payable | ' | -16,273 | ' | -17,309 | ' | ' |
Other | ' | 1,616 | ' | 680 | ' | ' |
Total receivables | -14,799 | -14,657 | ' | -16,629 | ' | ' |
Inventories | ' | 0 | ' | 0 | ' | ' |
Deferred income taxes | ' | 0 | ' | ' | ' | ' |
Restricted investments and bond collateral | ' | 0 | ' | ' | ' | ' |
Other current assets | ' | 6,144 | ' | 743 | ' | ' |
Total current assets | 37,933 | 16,813 | ' | -1,050 | ' | ' |
Property, plant and equipment: | ' | ' | ' | ' | ' | ' |
Land and mineral rights | ' | 0 | ' | 0 | ' | ' |
Plant and equipment | ' | 3,973 | ' | 3,198 | ' | ' |
Gross property, plant and equipment | 4,000 | 3,973 | ' | 3,198 | ' | ' |
Less accumulated depreciation, depletion and amortization | ' | 2,707 | ' | 2,364 | ' | ' |
Net property, plant and equipment | 1,216 | 1,266 | ' | 834 | ' | ' |
Advanced coal royalties | ' | 0 | ' | 0 | ' | ' |
Reclamation deposits | ' | 0 | ' | 0 | ' | ' |
Restricted investments and bond collateral | ' | 15,134 | ' | 15,183 | ' | ' |
Contractual third-party reclamation receivables, less current portion | ' | 0 | ' | 0 | ' | ' |
Intangible assets | ' | 0 | ' | 0 | ' | ' |
Investment in subsidiaries | ' | 280,843 | ' | 257,773 | ' | ' |
Other assets | ' | 8,636 | ' | 10,267 | ' | ' |
Total Assets | 776,929 | 322,692 | ' | 283,007 | ' | ' |
Accounts payable and accrued expenses: | ' | ' | ' | ' | ' | ' |
Total current liabilities | 66,128 | 51,683 | ' | 28,527 | ' | ' |
Shareholders' deficit: | ' | ' | ' | ' | ' | ' |
Common stock | ' | 36,479 | ' | 35,502 | ' | ' |
Other paid-in capital | ' | 134,861 | ' | 130,852 | ' | ' |
Accumulated other comprehensive loss | ' | -63,595 | ' | -148,345 | ' | ' |
Accumulated earnings (deficit) | ' | -295,784 | ' | -289,727 | ' | ' |
Total Westmoreland Coal Company shareholders' deficit | -206,216 | -187,879 | ' | -271,558 | ' | ' |
Noncontrolling interest | ' | 0 | ' | -14,673 | ' | ' |
Total equity (deficit) | ' | -187,879 | ' | -286,231 | ' | ' |
Total Liabilities and Shareholders' Deficit | 776,929 | 322,692 | ' | 283,007 | ' | ' |
Accounts Payable and Other Accrued Liabilities, Current | ' | 6,840 | ' | 5,060 | ' | ' |
Production Taxes | ' | 0 | ' | 0 | ' | ' |
Workers' Compensation Liability, Current | ' | 717 | ' | 820 | ' | ' |
Postretirement Medical Benefits Current | ' | 12,042 | ' | 12,494 | ' | ' |
Supplemental Executive Retirement Plan Current | ' | 390 | ' | 390 | ' | ' |
Deferred Revenue, Current | ' | 0 | ' | 0 | ' | ' |
Asset Retirement Obligation, Current | ' | 0 | ' | 0 | ' | ' |
Other Sundry Liabilities, Current | ' | 11,302 | ' | 11,311 | ' | ' |
Long-term debt, less current installments | ' | 224,582 | ' | 245,456 | ' | ' |
Workers' Compensation Liability, Noncurrent | ' | 6,744 | ' | 8,710 | ' | ' |
Excess of black lung benefit obligation over trust assets | ' | 8,675 | ' | 8,356 | ' | ' |
Other Postretirement Defined Benefit Plan, Liabilities, Noncurrent | ' | 185,858 | ' | 224,336 | ' | ' |
Defined Benefit Pension Plan, Liabilities, Noncurrent | ' | 13,069 | ' | 29,265 | ' | ' |
Deferred Revenue, Noncurrent | ' | 0 | ' | 0 | ' | ' |
Asset Retirement Obligations, Noncurrent | ' | 0 | ' | 0 | ' | ' |
Intangible Liabilities Non Current | ' | 0 | ' | 0 | ' | ' |
Other Liabilities, Noncurrent | ' | 5,939 | ' | 701 | ' | ' |
Intercompany Payable | ' | 14,021 | ' | 23,887 | ' | ' |
Liabilities | 983,145 | 510,571 | ' | 569,238 | ' | ' |
Preferred Stock, Value, Issued | ' | 160 | ' | 160 | ' | ' |
Co-Issuer [Member] | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' |
Long-term Debt and Capital Lease Obligations, Current | ' | 0 | ' | 0 | ' | ' |
Current assets: | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | 4,043 | 3,341 | 4,807 | 4,545 | 6 | 880 |
Receivables: | ' | ' | ' | ' | ' | ' |
Trade | ' | 12,934 | ' | 13,018 | ' | ' |
Contractual third-party reclamation receivables | ' | 0 | ' | 0 | ' | ' |
Intercompany receivable/payable | ' | 0 | ' | 0 | ' | ' |
Other | ' | 210 | ' | 0 | ' | ' |
Total receivables | 12,664 | 13,144 | ' | 13,018 | ' | ' |
Inventories | ' | 6,161 | ' | 3,047 | ' | ' |
Deferred income taxes | ' | 0 | ' | ' | ' | ' |
Restricted investments and bond collateral | ' | 5,998 | ' | ' | ' | ' |
Other current assets | ' | 143 | ' | 298 | ' | ' |
Total current assets | 18,977 | 28,787 | ' | 20,908 | ' | ' |
Property, plant and equipment: | ' | ' | ' | ' | ' | ' |
Land and mineral rights | ' | 1,395 | ' | 1,395 | ' | ' |
Plant and equipment | ' | 220,872 | ' | 219,857 | ' | ' |
Gross property, plant and equipment | 222,327 | 222,267 | ' | 221,252 | ' | ' |
Less accumulated depreciation, depletion and amortization | ' | 71,653 | ' | 61,474 | ' | ' |
Net property, plant and equipment | 148,150 | 150,614 | ' | 159,778 | ' | ' |
Advanced coal royalties | ' | 0 | ' | 0 | ' | ' |
Reclamation deposits | ' | 0 | ' | 0 | ' | ' |
Restricted investments and bond collateral | ' | 0 | ' | 5,990 | ' | ' |
Contractual third-party reclamation receivables, less current portion | ' | 0 | ' | 0 | ' | ' |
Intangible assets | ' | 1,283 | ' | 2,923 | ' | ' |
Investment in subsidiaries | ' | 0 | ' | 0 | ' | ' |
Other assets | ' | 0 | ' | 0 | ' | ' |
Total Assets | 167,998 | 180,684 | ' | 189,599 | ' | ' |
Accounts payable and accrued expenses: | ' | ' | ' | ' | ' | ' |
Total current liabilities | 21,370 | 24,199 | ' | 13,769 | ' | ' |
Shareholders' deficit: | ' | ' | ' | ' | ' | ' |
Common stock | ' | 5 | ' | 5 | ' | ' |
Other paid-in capital | ' | 52,835 | ' | 52,806 | ' | ' |
Accumulated other comprehensive loss | ' | -164 | ' | -372 | ' | ' |
Accumulated earnings (deficit) | ' | 55,915 | ' | 65,409 | ' | ' |
Total Westmoreland Coal Company shareholders' deficit | 101,957 | 108,591 | ' | 117,848 | ' | ' |
Noncontrolling interest | ' | 0 | ' | 0 | ' | ' |
Total equity (deficit) | ' | 108,591 | ' | 117,848 | ' | ' |
Total Liabilities and Shareholders' Deficit | 167,998 | 180,684 | ' | 189,599 | ' | ' |
Accounts Payable and Other Accrued Liabilities, Current | ' | 10,119 | ' | 4,978 | ' | ' |
Production Taxes | ' | 3 | ' | 3 | ' | ' |
Workers' Compensation Liability, Current | ' | 0 | ' | 0 | ' | ' |
Postretirement Medical Benefits Current | ' | 0 | ' | 0 | ' | ' |
Supplemental Executive Retirement Plan Current | ' | 0 | ' | 0 | ' | ' |
Deferred Revenue, Current | ' | 9,024 | ' | 8,788 | ' | ' |
Asset Retirement Obligation, Current | ' | 0 | ' | 0 | ' | ' |
Other Sundry Liabilities, Current | ' | 5,053 | ' | 0 | ' | ' |
Long-term debt, less current installments | ' | 0 | ' | 0 | ' | ' |
Workers' Compensation Liability, Noncurrent | ' | 0 | ' | 0 | ' | ' |
Excess of black lung benefit obligation over trust assets | ' | 0 | ' | 0 | ' | ' |
Other Postretirement Defined Benefit Plan, Liabilities, Noncurrent | ' | 0 | ' | 0 | ' | ' |
Defined Benefit Pension Plan, Liabilities, Noncurrent | ' | 99 | ' | 289 | ' | ' |
Deferred Revenue, Noncurrent | ' | 41,297 | ' | 50,239 | ' | ' |
Asset Retirement Obligations, Noncurrent | ' | 892 | ' | 829 | ' | ' |
Intangible Liabilities Non Current | ' | 5,606 | ' | 6,625 | ' | ' |
Other Liabilities, Noncurrent | ' | 0 | ' | 0 | ' | ' |
Intercompany Payable | ' | 0 | ' | 0 | ' | ' |
Liabilities | 66,041 | 72,093 | ' | 71,751 | ' | ' |
Preferred Stock, Value, Issued | ' | 0 | ' | 0 | ' | ' |
Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' |
Long-term Debt and Capital Lease Obligations, Current | ' | 23,951 | ' | 25,339 | ' | ' |
Current assets: | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | 27,267 | 27,451 | 23,132 | 10,236 | 3,381 | 352 |
Receivables: | ' | ' | ' | ' | ' | ' |
Trade | ' | 46,985 | ' | 43,420 | ' | ' |
Contractual third-party reclamation receivables | ' | 8,487 | ' | 10,207 | ' | ' |
Intercompany receivable/payable | ' | 2,761 | ' | 2,595 | ' | ' |
Other | ' | 3,256 | ' | 17,377 | ' | ' |
Total receivables | 62,790 | 61,489 | ' | 73,599 | ' | ' |
Inventories | ' | 33,811 | ' | 34,687 | ' | ' |
Deferred income taxes | ' | 870 | ' | ' | ' | ' |
Restricted investments and bond collateral | ' | 0 | ' | ' | ' | ' |
Other current assets | ' | 11,069 | ' | 15,463 | ' | ' |
Total current assets | 132,382 | 134,690 | ' | 133,985 | ' | ' |
Property, plant and equipment: | ' | ' | ' | ' | ' | ' |
Land and mineral rights | ' | 276,793 | ' | 260,346 | ' | ' |
Plant and equipment | ' | 432,851 | ' | 412,665 | ' | ' |
Gross property, plant and equipment | 725,060 | 709,644 | ' | 673,011 | ' | ' |
Less accumulated depreciation, depletion and amortization | ' | 371,488 | ' | 320,783 | ' | ' |
Net property, plant and equipment | 340,266 | 338,156 | ' | 352,228 | ' | ' |
Advanced coal royalties | ' | 7,311 | ' | 4,316 | ' | ' |
Reclamation deposits | ' | 74,921 | ' | 72,718 | ' | ' |
Restricted investments and bond collateral | ' | 54,101 | ' | 66,036 | ' | ' |
Contractual third-party reclamation receivables, less current portion | ' | 88,303 | ' | 84,158 | ' | ' |
Intangible assets | ' | 237 | ' | 280 | ' | ' |
Investment in subsidiaries | ' | 0 | ' | -792 | ' | ' |
Other assets | ' | 1,683 | ' | 2,092 | ' | ' |
Total Assets | 699,150 | 699,402 | ' | 715,021 | ' | ' |
Accounts payable and accrued expenses: | ' | ' | ' | ' | ' | ' |
Total current liabilities | 143,735 | 128,162 | ' | 121,786 | ' | ' |
Shareholders' deficit: | ' | ' | ' | ' | ' | ' |
Common stock | ' | 110 | ' | 110 | ' | ' |
Other paid-in capital | ' | 157,984 | ' | 155,585 | ' | ' |
Accumulated other comprehensive loss | ' | 6,425 | ' | -22,777 | ' | ' |
Accumulated earnings (deficit) | ' | -3,120 | ' | -8,550 | ' | ' |
Total Westmoreland Coal Company shareholders' deficit | 149,601 | 161,399 | ' | 124,368 | ' | ' |
Noncontrolling interest | ' | 0 | ' | 0 | ' | ' |
Total equity (deficit) | ' | 161,399 | ' | 124,368 | ' | ' |
Total Liabilities and Shareholders' Deficit | 699,150 | 699,402 | ' | 715,021 | ' | ' |
Accounts Payable and Other Accrued Liabilities, Current | ' | 38,061 | ' | 40,715 | ' | ' |
Production Taxes | ' | 36,522 | ' | 28,856 | ' | ' |
Workers' Compensation Liability, Current | ' | 0 | ' | 0 | ' | ' |
Postretirement Medical Benefits Current | ' | 774 | ' | 449 | ' | ' |
Supplemental Executive Retirement Plan Current | ' | 0 | ' | 0 | ' | ' |
Deferred Revenue, Current | ' | 5,044 | ' | 4,034 | ' | ' |
Asset Retirement Obligation, Current | ' | 23,353 | ' | 22,238 | ' | ' |
Other Sundry Liabilities, Current | ' | 457 | ' | 155 | ' | ' |
Long-term debt, less current installments | ' | 72,912 | ' | 93,742 | ' | ' |
Workers' Compensation Liability, Noncurrent | ' | 0 | ' | 0 | ' | ' |
Excess of black lung benefit obligation over trust assets | ' | 0 | ' | 0 | ' | ' |
Other Postretirement Defined Benefit Plan, Liabilities, Noncurrent | ' | 66,439 | ' | 74,589 | ' | ' |
Defined Benefit Pension Plan, Liabilities, Noncurrent | ' | 10,765 | ' | 23,955 | ' | ' |
Deferred Revenue, Noncurrent | ' | 5,270 | ' | 6,652 | ' | ' |
Asset Retirement Obligations, Noncurrent | ' | 255,619 | ' | 240,780 | ' | ' |
Intangible Liabilities Non Current | ' | 0 | ' | 0 | ' | ' |
Other Liabilities, Noncurrent | ' | 6,687 | ' | 16,145 | ' | ' |
Intercompany Payable | ' | -7,851 | ' | 13,004 | ' | ' |
Liabilities | 549,549 | 538,003 | ' | 590,653 | ' | ' |
Preferred Stock, Value, Issued | ' | 0 | ' | 0 | ' | ' |
Non-Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' |
Long-term Debt and Capital Lease Obligations, Current | ' | 0 | ' | 0 | ' | ' |
Current assets: | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | 1,831 | 4,992 | 1,942 | 1,993 | 1,256 | 4,272 |
Receivables: | ' | ' | ' | ' | ' | ' |
Trade | ' | 6,277 | ' | 3,599 | ' | ' |
Contractual third-party reclamation receivables | ' | 0 | ' | 0 | ' | ' |
Intercompany receivable/payable | ' | -19,353 | ' | -18,262 | ' | ' |
Other | ' | 28 | ' | 8 | ' | ' |
Total receivables | -19,031 | -13,048 | ' | -14,655 | ' | ' |
Inventories | ' | 0 | ' | 0 | ' | ' |
Deferred income taxes | ' | 0 | ' | ' | ' | ' |
Restricted investments and bond collateral | ' | 0 | ' | ' | ' | ' |
Other current assets | ' | 834 | ' | 0 | ' | ' |
Total current assets | -16,779 | -7,222 | ' | -12,662 | ' | ' |
Property, plant and equipment: | ' | ' | ' | ' | ' | ' |
Land and mineral rights | ' | 0 | ' | 0 | ' | ' |
Plant and equipment | ' | 0 | ' | 0 | ' | ' |
Gross property, plant and equipment | 0 | 0 | ' | 0 | ' | ' |
Less accumulated depreciation, depletion and amortization | ' | 0 | ' | 0 | ' | ' |
Net property, plant and equipment | 0 | 0 | ' | 0 | ' | ' |
Advanced coal royalties | ' | 0 | ' | 0 | ' | ' |
Reclamation deposits | ' | 0 | ' | 0 | ' | ' |
Restricted investments and bond collateral | ' | 0 | ' | 0 | ' | ' |
Contractual third-party reclamation receivables, less current portion | ' | 0 | ' | 0 | ' | ' |
Intangible assets | ' | 0 | ' | 0 | ' | ' |
Investment in subsidiaries | ' | 3,770 | ' | 3,770 | ' | ' |
Other assets | ' | 2,000 | ' | 2,000 | ' | ' |
Total Assets | -9,509 | -1,452 | ' | -6,892 | ' | ' |
Accounts payable and accrued expenses: | ' | ' | ' | ' | ' | ' |
Total current liabilities | 4,484 | 9,006 | ' | 21,675 | ' | ' |
Shareholders' deficit: | ' | ' | ' | ' | ' | ' |
Common stock | ' | 132 | ' | 132 | ' | ' |
Other paid-in capital | ' | -124 | ' | -124 | ' | ' |
Accumulated other comprehensive loss | ' | -3,086 | ' | -6,702 | ' | ' |
Accumulated earnings (deficit) | ' | -41,337 | ' | -59,292 | ' | ' |
Total Westmoreland Coal Company shareholders' deficit | -47,588 | -44,415 | ' | -65,986 | ' | ' |
Noncontrolling interest | ' | 0 | ' | 0 | ' | ' |
Total equity (deficit) | ' | -44,415 | ' | -65,986 | ' | ' |
Total Liabilities and Shareholders' Deficit | -9,509 | -1,452 | ' | -6,892 | ' | ' |
Accounts Payable and Other Accrued Liabilities, Current | ' | 2,487 | ' | 16,181 | ' | ' |
Production Taxes | ' | 5,380 | ' | 4,369 | ' | ' |
Workers' Compensation Liability, Current | ' | 0 | ' | 0 | ' | ' |
Postretirement Medical Benefits Current | ' | 1,139 | ' | 1,125 | ' | ' |
Supplemental Executive Retirement Plan Current | ' | 0 | ' | 0 | ' | ' |
Deferred Revenue, Current | ' | 0 | ' | 0 | ' | ' |
Asset Retirement Obligation, Current | ' | 0 | ' | 0 | ' | ' |
Other Sundry Liabilities, Current | ' | 0 | ' | 0 | ' | ' |
Long-term debt, less current installments | ' | 0 | ' | 0 | ' | ' |
Workers' Compensation Liability, Noncurrent | ' | 0 | ' | 0 | ' | ' |
Excess of black lung benefit obligation over trust assets | ' | 0 | ' | 0 | ' | ' |
Other Postretirement Defined Benefit Plan, Liabilities, Noncurrent | ' | 18,077 | ' | 20,850 | ' | ' |
Defined Benefit Pension Plan, Liabilities, Noncurrent | ' | 243 | ' | 741 | ' | ' |
Deferred Revenue, Noncurrent | ' | 0 | ' | 0 | ' | ' |
Asset Retirement Obligations, Noncurrent | ' | 0 | ' | 0 | ' | ' |
Intangible Liabilities Non Current | ' | 0 | ' | 0 | ' | ' |
Other Liabilities, Noncurrent | ' | 983 | ' | 1,174 | ' | ' |
Intercompany Payable | ' | 14,654 | ' | 14,654 | ' | ' |
Liabilities | 38,079 | 42,963 | ' | 59,094 | ' | ' |
Preferred Stock, Value, Issued | ' | 0 | ' | 0 | ' | ' |
Consolidating Adjustments [Member] | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' |
Long-term Debt and Capital Lease Obligations, Current | ' | 0 | ' | 0 | ' | ' |
Current assets: | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | 0 | 0 | 0 | 0 | 0 | 0 |
Receivables: | ' | ' | ' | ' | ' | ' |
Trade | ' | 0 | ' | 0 | ' | ' |
Contractual third-party reclamation receivables | ' | 0 | ' | 0 | ' | ' |
Intercompany receivable/payable | ' | 32,865 | ' | 32,976 | ' | ' |
Other | ' | -24 | ' | -14,845 | ' | ' |
Total receivables | 32,679 | 32,841 | ' | 18,131 | ' | ' |
Inventories | ' | 0 | ' | 0 | ' | ' |
Deferred income taxes | ' | -870 | ' | ' | ' | ' |
Restricted investments and bond collateral | ' | 0 | ' | ' | ' | ' |
Other current assets | ' | 0 | ' | 0 | ' | ' |
Total current assets | 32,680 | 31,971 | ' | 18,131 | ' | ' |
Property, plant and equipment: | ' | ' | ' | ' | ' | ' |
Land and mineral rights | ' | 0 | ' | 0 | ' | ' |
Plant and equipment | ' | 0 | ' | 0 | ' | ' |
Gross property, plant and equipment | 0 | 0 | ' | 0 | ' | ' |
Less accumulated depreciation, depletion and amortization | ' | 0 | ' | 0 | ' | ' |
Net property, plant and equipment | 1 | 0 | ' | 0 | ' | ' |
Advanced coal royalties | ' | 0 | ' | 0 | ' | ' |
Reclamation deposits | ' | 0 | ' | 0 | ' | ' |
Restricted investments and bond collateral | ' | 0 | ' | 0 | ' | ' |
Contractual third-party reclamation receivables, less current portion | ' | 0 | ' | 0 | ' | ' |
Intangible assets | ' | 0 | ' | 0 | ' | ' |
Investment in subsidiaries | ' | -284,613 | ' | -260,751 | ' | ' |
Other assets | ' | -1,999 | ' | -2,000 | ' | ' |
Total Assets | -227,421 | -254,641 | ' | -244,620 | ' | ' |
Accounts payable and accrued expenses: | ' | ' | ' | ' | ' | ' |
Total current liabilities | -31 | -22 | ' | -14,845 | ' | ' |
Shareholders' deficit: | ' | ' | ' | ' | ' | ' |
Common stock | ' | -247 | ' | -247 | ' | ' |
Other paid-in capital | ' | -210,695 | ' | -208,267 | ' | ' |
Accumulated other comprehensive loss | ' | -3,175 | ' | 29,851 | ' | ' |
Accumulated earnings (deficit) | ' | -11,458 | ' | 2,433 | ' | ' |
Total Westmoreland Coal Company shareholders' deficit | -203,970 | -225,575 | ' | -176,230 | ' | ' |
Noncontrolling interest | ' | 0 | ' | 0 | ' | ' |
Total equity (deficit) | ' | -225,575 | ' | -176,230 | ' | ' |
Total Liabilities and Shareholders' Deficit | -227,421 | -254,641 | ' | -244,620 | ' | ' |
Accounts Payable and Other Accrued Liabilities, Current | ' | 0 | ' | -14,841 | ' | ' |
Production Taxes | ' | 0 | ' | 0 | ' | ' |
Workers' Compensation Liability, Current | ' | 0 | ' | 0 | ' | ' |
Postretirement Medical Benefits Current | ' | 0 | ' | 0 | ' | ' |
Supplemental Executive Retirement Plan Current | ' | 0 | ' | 0 | ' | ' |
Deferred Revenue, Current | ' | 0 | ' | 0 | ' | ' |
Asset Retirement Obligation, Current | ' | 0 | ' | 0 | ' | ' |
Other Sundry Liabilities, Current | ' | -22 | ' | -4 | ' | ' |
Long-term debt, less current installments | ' | -2,000 | ' | -2,000 | ' | ' |
Workers' Compensation Liability, Noncurrent | ' | 0 | ' | 0 | ' | ' |
Excess of black lung benefit obligation over trust assets | ' | 0 | ' | 0 | ' | ' |
Other Postretirement Defined Benefit Plan, Liabilities, Noncurrent | ' | 0 | ' | 0 | ' | ' |
Defined Benefit Pension Plan, Liabilities, Noncurrent | ' | 0 | ' | 0 | ' | ' |
Deferred Revenue, Noncurrent | ' | 0 | ' | 0 | ' | ' |
Asset Retirement Obligations, Noncurrent | ' | 0 | ' | 0 | ' | ' |
Intangible Liabilities Non Current | ' | 0 | ' | 0 | ' | ' |
Other Liabilities, Noncurrent | ' | -6,220 | ' | 0 | ' | ' |
Intercompany Payable | ' | -20,824 | ' | -51,545 | ' | ' |
Liabilities | -23,451 | -29,066 | ' | -68,390 | ' | ' |
Preferred Stock, Value, Issued | ' | 0 | ' | 0 | ' | ' |
Scenario, Previously Reported [Member] | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' |
Long-term Debt and Capital Lease Obligations, Current | 48,586 | 44,343 | ' | 23,791 | ' | ' |
Current assets: | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | 61,900 | 61,110 | 40,852 | 31,610 | 30,783 | 5,775 |
Receivables: | ' | ' | ' | ' | ' | ' |
Trade | 64,715 | 66,196 | ' | 60,037 | ' | ' |
Contractual third-party reclamation receivables | 8,213 | 8,487 | ' | 10,207 | ' | ' |
Intercompany receivable/payable | 0 | 0 | ' | 0 | ' | ' |
Other | 1,375 | 5,086 | ' | 3,220 | ' | ' |
Total receivables | 74,303 | 79,769 | ' | 73,464 | ' | ' |
Inventories | 35,447 | 39,972 | ' | 37,734 | ' | ' |
Deferred income taxes | ' | 0 | ' | ' | ' | ' |
Restricted investments and bond collateral | 16,900 | 5,998 | ' | ' | ' | ' |
Other current assets | 16,643 | 18,190 | ' | 16,504 | ' | ' |
Total current assets | 205,193 | 205,039 | ' | 159,312 | ' | ' |
Property, plant and equipment: | ' | ' | ' | ' | ' | ' |
Land and mineral rights | 278,198 | 278,188 | ' | 261,741 | ' | ' |
Plant and equipment | 673,189 | 657,696 | ' | 635,720 | ' | ' |
Gross property, plant and equipment | 951,387 | 935,884 | ' | 897,461 | ' | ' |
Less accumulated depreciation, depletion and amortization | 461,754 | 445,848 | ' | 384,621 | ' | ' |
Net property, plant and equipment | 489,633 | 490,036 | ' | 512,840 | ' | ' |
Advanced coal royalties | 7,263 | 7,311 | ' | 4,316 | ' | ' |
Reclamation deposits | 75,315 | 74,921 | ' | 72,718 | ' | ' |
Restricted investments and bond collateral | 523,483 | 69,235 | ' | 87,209 | ' | ' |
Contractual third-party reclamation receivables, less current portion | 88,036 | 88,303 | ' | 84,158 | ' | ' |
Intangible assets | 1,099 | 1,520 | ' | 3,203 | ' | ' |
Investment in subsidiaries | 0 | 0 | ' | 0 | ' | ' |
Other assets | 17,125 | 10,320 | ' | 12,359 | ' | ' |
Total Assets | 1,407,147 | 946,685 | ' | 936,115 | ' | ' |
Accounts payable and accrued expenses: | ' | ' | ' | ' | ' | ' |
Total current liabilities | 235,686 | 213,028 | ' | 170,912 | ' | ' |
Shareholders' deficit: | ' | ' | ' | ' | ' | ' |
Common stock | 37,155 | 36,479 | ' | 35,502 | ' | ' |
Other paid-in capital | 134,952 | 134,861 | ' | 130,852 | ' | ' |
Accumulated other comprehensive loss | -63,369 | -63,595 | ' | -148,345 | ' | ' |
Accumulated earnings (deficit) | -315,075 | -295,784 | ' | -289,727 | ' | ' |
Total Westmoreland Coal Company shareholders' deficit | -206,216 | -187,879 | ' | -271,558 | ' | ' |
Noncontrolling interest | ' | 0 | ' | -14,673 | ' | ' |
Total equity (deficit) | ' | -187,879 | ' | -286,231 | ' | ' |
Total Liabilities and Shareholders' Deficit | 1,407,147 | 946,685 | ' | 936,115 | ' | ' |
Accounts Payable and Other Accrued Liabilities, Current | 62,598 | 57,507 | ' | 52,093 | ' | ' |
Production Taxes | 46,794 | 41,905 | ' | 33,228 | ' | ' |
Workers' Compensation Liability, Current | 712 | 717 | ' | 820 | ' | ' |
Postretirement Medical Benefits Current | 13,955 | 13,955 | ' | 14,068 | ' | ' |
Supplemental Executive Retirement Plan Current | 390 | 390 | ' | 390 | ' | ' |
Deferred Revenue, Current | 16,034 | 14,068 | ' | 12,822 | ' | ' |
Asset Retirement Obligation, Current | 22,227 | 23,353 | ' | 22,238 | ' | ' |
Other Sundry Liabilities, Current | 24,390 | 16,790 | ' | 11,462 | ' | ' |
Long-term debt, less current installments | 751,645 | 295,494 | ' | 337,198 | ' | ' |
Workers' Compensation Liability, Noncurrent | 6,680 | 6,744 | ' | 8,710 | ' | ' |
Excess of black lung benefit obligation over trust assets | 9,376 | 8,675 | ' | 8,356 | ' | ' |
Other Postretirement Defined Benefit Plan, Liabilities, Noncurrent | 271,275 | 270,374 | ' | 319,775 | ' | ' |
Defined Benefit Pension Plan, Liabilities, Noncurrent | 23,524 | 24,176 | ' | 54,250 | ' | ' |
Deferred Revenue, Noncurrent | 43,299 | 46,567 | ' | 56,891 | ' | ' |
Asset Retirement Obligations, Noncurrent | 259,036 | 256,511 | ' | 241,609 | ' | ' |
Intangible Liabilities Non Current | 5,339 | 5,606 | ' | 6,625 | ' | ' |
Other Liabilities, Noncurrent | 7,503 | 7,389 | ' | 18,020 | ' | ' |
Intercompany Payable | 0 | 0 | ' | 0 | ' | ' |
Liabilities | 1,613,363 | 1,134,564 | ' | 1,222,346 | ' | ' |
Preferred Stock, Value, Issued | 121 | 160 | ' | 160 | ' | ' |
Scenario, Previously Reported [Member] | Parent Company [Member] | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' |
Long-term Debt and Capital Lease Obligations, Current | 22,785 | 20,392 | ' | -1,548 | ' | ' |
Current assets: | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | 28,759 | 25,326 | -9,637 | 14,836 | 26,141 | 271 |
Receivables: | ' | ' | ' | ' | ' | ' |
Trade | 0 | 0 | ' | 0 | ' | ' |
Contractual third-party reclamation receivables | 0 | 0 | ' | 0 | ' | ' |
Intercompany receivable/payable | -2,263 | -3,568 | ' | -8,002 | ' | ' |
Other | 273 | 95 | ' | 77 | ' | ' |
Total receivables | -1,990 | -3,473 | ' | -7,925 | ' | ' |
Inventories | 0 | 0 | ' | 0 | ' | ' |
Deferred income taxes | ' | 0 | ' | ' | ' | ' |
Restricted investments and bond collateral | 16,900 | 0 | ' | ' | ' | ' |
Other current assets | 7,044 | 6,115 | ' | 739 | ' | ' |
Total current assets | 50,713 | 27,968 | ' | 7,650 | ' | ' |
Property, plant and equipment: | ' | ' | ' | ' | ' | ' |
Land and mineral rights | 0 | 0 | ' | 0 | ' | ' |
Plant and equipment | 3,966 | 3,939 | ' | 3,198 | ' | ' |
Gross property, plant and equipment | 3,966 | 3,939 | ' | 3,198 | ' | ' |
Less accumulated depreciation, depletion and amortization | 2,781 | 2,705 | ' | 2,364 | ' | ' |
Net property, plant and equipment | 1,185 | 1,234 | ' | 834 | ' | ' |
Advanced coal royalties | 0 | 0 | ' | 0 | ' | ' |
Reclamation deposits | 0 | 0 | ' | 0 | ' | ' |
Restricted investments and bond collateral | 469,385 | 15,134 | ' | 15,183 | ' | ' |
Contractual third-party reclamation receivables, less current portion | 0 | 0 | ' | 0 | ' | ' |
Intangible assets | 0 | 0 | ' | 0 | ' | ' |
Investment in subsidiaries | 237,926 | 266,847 | ' | 248,565 | ' | ' |
Other assets | 15,563 | 8,636 | ' | 10,267 | ' | ' |
Total Assets | 774,772 | 319,819 | ' | 282,499 | ' | ' |
Accounts payable and accrued expenses: | ' | ' | ' | ' | ' | ' |
Total current liabilities | 64,125 | 48,965 | ' | 28,175 | ' | ' |
Shareholders' deficit: | ' | ' | ' | ' | ' | ' |
Common stock | 37,155 | 36,479 | ' | 35,502 | ' | ' |
Other paid-in capital | 134,953 | 134,861 | ' | 130,852 | ' | ' |
Accumulated other comprehensive loss | -63,369 | -63,595 | ' | -148,345 | ' | ' |
Accumulated earnings (deficit) | -315,075 | -295,784 | ' | -289,727 | ' | ' |
Total Westmoreland Coal Company shareholders' deficit | -206,215 | -187,879 | ' | -271,558 | ' | ' |
Noncontrolling interest | ' | 0 | ' | -14,673 | ' | ' |
Total equity (deficit) | ' | -187,879 | ' | -286,231 | ' | ' |
Total Liabilities and Shareholders' Deficit | 774,772 | 319,819 | ' | 282,499 | ' | ' |
Accounts Payable and Other Accrued Liabilities, Current | 9,000 | 4,122 | ' | 4,707 | ' | ' |
Production Taxes | 0 | 0 | ' | 0 | ' | ' |
Workers' Compensation Liability, Current | 712 | 717 | ' | 820 | ' | ' |
Postretirement Medical Benefits Current | 12,042 | 12,042 | ' | 12,494 | ' | ' |
Supplemental Executive Retirement Plan Current | 390 | 390 | ' | 390 | ' | ' |
Deferred Revenue, Current | 0 | 0 | ' | 0 | ' | ' |
Asset Retirement Obligation, Current | 0 | 0 | ' | 0 | ' | ' |
Other Sundry Liabilities, Current | 19,196 | 11,302 | ' | 11,312 | ' | ' |
Long-term debt, less current installments | 677,385 | 224,582 | ' | 245,456 | ' | ' |
Workers' Compensation Liability, Noncurrent | 6,680 | 6,744 | ' | 8,710 | ' | ' |
Excess of black lung benefit obligation over trust assets | 9,376 | 8,675 | ' | 8,356 | ' | ' |
Other Postretirement Defined Benefit Plan, Liabilities, Noncurrent | 185,447 | 185,858 | ' | 224,336 | ' | ' |
Defined Benefit Pension Plan, Liabilities, Noncurrent | 12,921 | 13,069 | ' | 29,265 | ' | ' |
Deferred Revenue, Noncurrent | 0 | 0 | ' | 0 | ' | ' |
Asset Retirement Obligations, Noncurrent | 0 | 0 | ' | 0 | ' | ' |
Intangible Liabilities Non Current | 0 | 0 | ' | 0 | ' | ' |
Other Liabilities, Noncurrent | 6,440 | 5,939 | ' | 701 | ' | ' |
Intercompany Payable | 18,613 | 13,866 | ' | 23,731 | ' | ' |
Liabilities | 980,987 | 507,698 | ' | 568,730 | ' | ' |
Preferred Stock, Value, Issued | 121 | 160 | ' | 160 | ' | ' |
Scenario, Previously Reported [Member] | Co-Issuer [Member] | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' |
Long-term Debt and Capital Lease Obligations, Current | 0 | 0 | ' | 0 | ' | ' |
Current assets: | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | 4,043 | 3,341 | 4,807 | 4,545 | 6 | 880 |
Receivables: | ' | ' | ' | ' | ' | ' |
Trade | 12,456 | 12,934 | ' | 13,018 | ' | ' |
Contractual third-party reclamation receivables | 0 | 0 | ' | 0 | ' | ' |
Intercompany receivable/payable | 0 | 0 | ' | 0 | ' | ' |
Other | 208 | 210 | ' | 0 | ' | ' |
Total receivables | 12,664 | 13,144 | ' | 13,018 | ' | ' |
Inventories | 1,845 | 6,161 | ' | 3,047 | ' | ' |
Deferred income taxes | ' | 0 | ' | ' | ' | ' |
Restricted investments and bond collateral | 0 | 5,998 | ' | ' | ' | ' |
Other current assets | 425 | 143 | ' | 298 | ' | ' |
Total current assets | 18,977 | 28,787 | ' | 20,908 | ' | ' |
Property, plant and equipment: | ' | ' | ' | ' | ' | ' |
Land and mineral rights | 1,395 | 1,395 | ' | 1,395 | ' | ' |
Plant and equipment | 220,932 | 220,872 | ' | 219,857 | ' | ' |
Gross property, plant and equipment | 222,327 | 222,267 | ' | 221,252 | ' | ' |
Less accumulated depreciation, depletion and amortization | 74,177 | 71,653 | ' | 61,474 | ' | ' |
Net property, plant and equipment | 148,150 | 150,614 | ' | 159,778 | ' | ' |
Advanced coal royalties | 0 | 0 | ' | 0 | ' | ' |
Reclamation deposits | 0 | 0 | ' | 0 | ' | ' |
Restricted investments and bond collateral | 0 | 0 | ' | 5,990 | ' | ' |
Contractual third-party reclamation receivables, less current portion | 0 | 0 | ' | 0 | ' | ' |
Intangible assets | 871 | 1,283 | ' | 2,923 | ' | ' |
Investment in subsidiaries | 0 | 0 | ' | 0 | ' | ' |
Other assets | 0 | 0 | ' | 0 | ' | ' |
Total Assets | 167,998 | 180,684 | ' | 189,599 | ' | ' |
Accounts payable and accrued expenses: | ' | ' | ' | ' | ' | ' |
Total current liabilities | 21,370 | 24,199 | ' | 13,769 | ' | ' |
Shareholders' deficit: | ' | ' | ' | ' | ' | ' |
Common stock | 5 | 5 | ' | 5 | ' | ' |
Other paid-in capital | 52,842 | 52,835 | ' | 52,807 | ' | ' |
Accumulated other comprehensive loss | -162 | -164 | ' | -372 | ' | ' |
Accumulated earnings (deficit) | 49,272 | 55,915 | ' | 65,408 | ' | ' |
Total Westmoreland Coal Company shareholders' deficit | 101,957 | 108,591 | ' | 117,848 | ' | ' |
Noncontrolling interest | ' | 0 | ' | 0 | ' | ' |
Total equity (deficit) | ' | 108,591 | ' | 117,848 | ' | ' |
Total Liabilities and Shareholders' Deficit | 167,998 | 180,684 | ' | 189,599 | ' | ' |
Accounts Payable and Other Accrued Liabilities, Current | 6,331 | 10,119 | ' | 4,978 | ' | ' |
Production Taxes | 405 | 3 | ' | 3 | ' | ' |
Workers' Compensation Liability, Current | 0 | 0 | ' | 0 | ' | ' |
Postretirement Medical Benefits Current | 0 | 0 | ' | 0 | ' | ' |
Supplemental Executive Retirement Plan Current | 0 | 0 | ' | 0 | ' | ' |
Deferred Revenue, Current | 9,581 | 9,024 | ' | 8,788 | ' | ' |
Asset Retirement Obligation, Current | 0 | 0 | ' | 0 | ' | ' |
Other Sundry Liabilities, Current | 5,053 | 5,053 | ' | 0 | ' | ' |
Long-term debt, less current installments | 0 | 0 | ' | 0 | ' | ' |
Workers' Compensation Liability, Noncurrent | 0 | 0 | ' | 0 | ' | ' |
Excess of black lung benefit obligation over trust assets | 0 | 0 | ' | 0 | ' | ' |
Other Postretirement Defined Benefit Plan, Liabilities, Noncurrent | 0 | 0 | ' | 0 | ' | ' |
Defined Benefit Pension Plan, Liabilities, Noncurrent | 98 | 99 | ' | 289 | ' | ' |
Deferred Revenue, Noncurrent | 38,325 | 41,297 | ' | 50,239 | ' | ' |
Asset Retirement Obligations, Noncurrent | 909 | 892 | ' | 829 | ' | ' |
Intangible Liabilities Non Current | 5,339 | 5,606 | ' | 6,625 | ' | ' |
Other Liabilities, Noncurrent | 0 | 0 | ' | 0 | ' | ' |
Intercompany Payable | 0 | 0 | ' | 0 | ' | ' |
Liabilities | 66,041 | 72,093 | ' | 71,751 | ' | ' |
Preferred Stock, Value, Issued | 0 | 0 | ' | 0 | ' | ' |
Scenario, Previously Reported [Member] | Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' |
Long-term Debt and Capital Lease Obligations, Current | 4,596 | 2,790 | ' | 1,939 | ' | ' |
Current assets: | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | 8,794 | 7,942 | 6,698 | 5,362 | 143 | 0 |
Receivables: | ' | ' | ' | ' | ' | ' |
Trade | 22,857 | 17,389 | ' | 13,428 | ' | ' |
Contractual third-party reclamation receivables | 44 | 44 | ' | 56 | ' | ' |
Intercompany receivable/payable | 3,499 | 4,384 | ' | 5,667 | ' | ' |
Other | 244 | 2,974 | ' | 16,806 | ' | ' |
Total receivables | 26,644 | 24,791 | ' | 35,957 | ' | ' |
Inventories | 15,133 | 16,077 | ' | 16,538 | ' | ' |
Deferred income taxes | ' | 870 | ' | ' | ' | ' |
Restricted investments and bond collateral | 0 | 0 | ' | ' | ' | ' |
Other current assets | 3,168 | 6,883 | ' | 5,550 | ' | ' |
Total current assets | 53,739 | 56,563 | ' | 63,407 | ' | ' |
Property, plant and equipment: | ' | ' | ' | ' | ' | ' |
Land and mineral rights | 104,640 | 104,631 | ' | 91,741 | ' | ' |
Plant and equipment | 245,368 | 229,998 | ' | 215,751 | ' | ' |
Gross property, plant and equipment | 350,008 | 334,629 | ' | 307,492 | ' | ' |
Less accumulated depreciation, depletion and amortization | 138,718 | 132,189 | ' | 108,151 | ' | ' |
Net property, plant and equipment | 211,290 | 202,440 | ' | 199,341 | ' | ' |
Advanced coal royalties | 3,000 | 3,000 | ' | 500 | ' | ' |
Reclamation deposits | 0 | 0 | ' | 0 | ' | ' |
Restricted investments and bond collateral | 36,615 | 36,619 | ' | 39,208 | ' | ' |
Contractual third-party reclamation receivables, less current portion | 302 | 293 | ' | 327 | ' | ' |
Intangible assets | 0 | 0 | ' | 0 | ' | ' |
Investment in subsidiaries | 0 | 0 | ' | -792 | ' | ' |
Other assets | 569 | 586 | ' | 635 | ' | ' |
Total Assets | 305,515 | 299,501 | ' | 302,626 | ' | ' |
Accounts payable and accrued expenses: | ' | ' | ' | ' | ' | ' |
Total current liabilities | 50,444 | 40,460 | ' | 33,729 | ' | ' |
Shareholders' deficit: | ' | ' | ' | ' | ' | ' |
Common stock | 110 | 110 | ' | 110 | ' | ' |
Other paid-in capital | 92,896 | 94,370 | ' | 93,456 | ' | ' |
Accumulated other comprehensive loss | 17,372 | 17,492 | ' | -4,987 | ' | ' |
Accumulated earnings (deficit) | 24,841 | 28,389 | ' | 54,750 | ' | ' |
Total Westmoreland Coal Company shareholders' deficit | 135,219 | 140,361 | ' | 143,329 | ' | ' |
Noncontrolling interest | ' | 0 | ' | 0 | ' | ' |
Total equity (deficit) | ' | 140,361 | ' | 143,329 | ' | ' |
Total Liabilities and Shareholders' Deficit | 305,515 | 299,501 | ' | 302,626 | ' | ' |
Accounts Payable and Other Accrued Liabilities, Current | 14,710 | 12,522 | ' | 15,163 | ' | ' |
Production Taxes | 22,442 | 17,429 | ' | 10,014 | ' | ' |
Workers' Compensation Liability, Current | 0 | 0 | ' | 0 | ' | ' |
Postretirement Medical Benefits Current | 329 | 329 | ' | 87 | ' | ' |
Supplemental Executive Retirement Plan Current | 0 | 0 | ' | 0 | ' | ' |
Deferred Revenue, Current | 4,813 | 3,969 | ' | 2,997 | ' | ' |
Asset Retirement Obligation, Current | 3,554 | 3,104 | ' | 3,519 | ' | ' |
Other Sundry Liabilities, Current | 0 | 317 | ' | 10 | ' | ' |
Long-term debt, less current installments | 12,912 | 2,664 | ' | 2,473 | ' | ' |
Workers' Compensation Liability, Noncurrent | 0 | 0 | ' | 0 | ' | ' |
Excess of black lung benefit obligation over trust assets | 0 | 0 | ' | 0 | ' | ' |
Other Postretirement Defined Benefit Plan, Liabilities, Noncurrent | 50,472 | 49,418 | ' | 55,981 | ' | ' |
Defined Benefit Pension Plan, Liabilities, Noncurrent | 9,494 | 9,381 | ' | 19,346 | ' | ' |
Deferred Revenue, Noncurrent | 0 | 0 | ' | 0 | ' | ' |
Asset Retirement Obligations, Noncurrent | 51,300 | 50,472 | ' | 40,063 | ' | ' |
Intangible Liabilities Non Current | 0 | 0 | ' | 0 | ' | ' |
Other Liabilities, Noncurrent | 0 | 6,220 | ' | 15,677 | ' | ' |
Intercompany Payable | -4,326 | 525 | ' | -7,972 | ' | ' |
Liabilities | 170,296 | 159,140 | ' | 159,297 | ' | ' |
Preferred Stock, Value, Issued | 0 | 0 | ' | 0 | ' | ' |
Scenario, Previously Reported [Member] | Non-Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' |
Long-term Debt and Capital Lease Obligations, Current | 21,205 | 21,161 | ' | 23,400 | ' | ' |
Current assets: | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | 20,304 | 24,501 | 18,376 | 6,867 | 4,493 | 4,624 |
Receivables: | ' | ' | ' | ' | ' | ' |
Trade | 29,402 | 35,873 | ' | 33,591 | ' | ' |
Contractual third-party reclamation receivables | 8,169 | 8,443 | ' | 10,151 | ' | ' |
Intercompany receivable/payable | -33,946 | -33,681 | ' | -30,641 | ' | ' |
Other | 681 | 1,831 | ' | 1,182 | ' | ' |
Total receivables | 4,306 | 12,466 | ' | 14,283 | ' | ' |
Inventories | 18,469 | 17,735 | ' | 18,149 | ' | ' |
Deferred income taxes | ' | 0 | ' | ' | ' | ' |
Restricted investments and bond collateral | 0 | 0 | ' | ' | ' | ' |
Other current assets | 6,005 | 5,049 | ' | 9,917 | ' | ' |
Total current assets | 49,084 | 59,751 | ' | 49,216 | ' | ' |
Property, plant and equipment: | ' | ' | ' | ' | ' | ' |
Land and mineral rights | 172,163 | 172,163 | ' | 168,605 | ' | ' |
Plant and equipment | 202,923 | 202,886 | ' | 196,914 | ' | ' |
Gross property, plant and equipment | 375,086 | 375,049 | ' | 365,519 | ' | ' |
Less accumulated depreciation, depletion and amortization | 246,079 | 239,302 | ' | 212,632 | ' | ' |
Net property, plant and equipment | 129,007 | 135,747 | ' | 152,887 | ' | ' |
Advanced coal royalties | 4,263 | 4,311 | ' | 3,816 | ' | ' |
Reclamation deposits | 75,315 | 74,921 | ' | 72,718 | ' | ' |
Restricted investments and bond collateral | 17,483 | 17,482 | ' | 26,828 | ' | ' |
Contractual third-party reclamation receivables, less current portion | 87,734 | 88,010 | ' | 83,831 | ' | ' |
Intangible assets | 228 | 238 | ' | 280 | ' | ' |
Investment in subsidiaries | 3,770 | 3,770 | ' | 3,770 | ' | ' |
Other assets | 4,493 | 3,098 | ' | 3,457 | ' | ' |
Total Assets | 371,377 | 387,328 | ' | 396,803 | ' | ' |
Accounts payable and accrued expenses: | ' | ' | ' | ' | ' | ' |
Total current liabilities | 99,777 | 99,426 | ' | 110,083 | ' | ' |
Shareholders' deficit: | ' | ' | ' | ' | ' | ' |
Common stock | 132 | 132 | ' | 132 | ' | ' |
Other paid-in capital | 66,027 | 64,401 | ' | 62,539 | ' | ' |
Accumulated other comprehensive loss | -13,937 | -14,153 | ' | -24,492 | ' | ' |
Accumulated earnings (deficit) | -100,334 | -87,753 | ' | -132,334 | ' | ' |
Total Westmoreland Coal Company shareholders' deficit | -48,112 | -37,373 | ' | -94,155 | ' | ' |
Noncontrolling interest | ' | 0 | ' | 0 | ' | ' |
Total equity (deficit) | ' | -37,373 | ' | -94,155 | ' | ' |
Total Liabilities and Shareholders' Deficit | 371,377 | 387,328 | ' | 396,803 | ' | ' |
Accounts Payable and Other Accrued Liabilities, Current | 32,557 | 30,743 | ' | 42,085 | ' | ' |
Production Taxes | 23,947 | 24,472 | ' | 23,211 | ' | ' |
Workers' Compensation Liability, Current | 0 | 0 | ' | 0 | ' | ' |
Postretirement Medical Benefits Current | 1,583 | 1,583 | ' | 1,487 | ' | ' |
Supplemental Executive Retirement Plan Current | 0 | 0 | ' | 0 | ' | ' |
Deferred Revenue, Current | 1,640 | 1,075 | ' | 1,037 | ' | ' |
Asset Retirement Obligation, Current | 18,673 | 20,250 | ' | 18,719 | ' | ' |
Other Sundry Liabilities, Current | 172 | 142 | ' | 144 | ' | ' |
Long-term debt, less current installments | 64,848 | 70,248 | ' | 91,269 | ' | ' |
Workers' Compensation Liability, Noncurrent | 0 | 0 | ' | 0 | ' | ' |
Excess of black lung benefit obligation over trust assets | 0 | 0 | ' | 0 | ' | ' |
Other Postretirement Defined Benefit Plan, Liabilities, Noncurrent | 35,356 | 35,098 | ' | 39,458 | ' | ' |
Defined Benefit Pension Plan, Liabilities, Noncurrent | 1,011 | 1,627 | ' | 5,350 | ' | ' |
Deferred Revenue, Noncurrent | 4,974 | 5,271 | ' | 6,652 | ' | ' |
Asset Retirement Obligations, Noncurrent | 206,827 | 205,147 | ' | 200,717 | ' | ' |
Intangible Liabilities Non Current | 0 | 0 | ' | 0 | ' | ' |
Other Liabilities, Noncurrent | 1,063 | 1,450 | ' | 1,642 | ' | ' |
Intercompany Payable | 5,633 | 6,434 | ' | 35,787 | ' | ' |
Liabilities | 419,489 | 424,701 | ' | 490,958 | ' | ' |
Preferred Stock, Value, Issued | 0 | 0 | ' | 0 | ' | ' |
Scenario, Previously Reported [Member] | Consolidating Adjustments [Member] | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' |
Long-term Debt and Capital Lease Obligations, Current | 0 | 0 | ' | 0 | ' | ' |
Current assets: | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | 0 | 0 | 20,608 | 0 | 0 | 0 |
Receivables: | ' | ' | ' | ' | ' | ' |
Trade | 0 | 0 | ' | 0 | ' | ' |
Contractual third-party reclamation receivables | 0 | 0 | ' | 0 | ' | ' |
Intercompany receivable/payable | 32,710 | 32,865 | ' | 32,976 | ' | ' |
Other | -31 | -24 | ' | -14,845 | ' | ' |
Total receivables | 32,679 | 32,841 | ' | 18,131 | ' | ' |
Inventories | 0 | -1 | ' | 0 | ' | ' |
Deferred income taxes | ' | -870 | ' | ' | ' | ' |
Restricted investments and bond collateral | 0 | 0 | ' | ' | ' | ' |
Other current assets | 1 | 0 | ' | 0 | ' | ' |
Total current assets | 32,680 | 31,970 | ' | 18,131 | ' | ' |
Property, plant and equipment: | ' | ' | ' | ' | ' | ' |
Land and mineral rights | 0 | -1 | ' | 0 | ' | ' |
Plant and equipment | 0 | 1 | ' | 0 | ' | ' |
Gross property, plant and equipment | 0 | 0 | ' | 0 | ' | ' |
Less accumulated depreciation, depletion and amortization | -1 | -1 | ' | 0 | ' | ' |
Net property, plant and equipment | 1 | 1 | ' | 0 | ' | ' |
Advanced coal royalties | 0 | 0 | ' | 0 | ' | ' |
Reclamation deposits | 0 | 0 | ' | 0 | ' | ' |
Restricted investments and bond collateral | 0 | 0 | ' | 0 | ' | ' |
Contractual third-party reclamation receivables, less current portion | 0 | 0 | ' | 0 | ' | ' |
Intangible assets | 0 | -1 | ' | 0 | ' | ' |
Investment in subsidiaries | -241,696 | -270,617 | ' | -251,543 | ' | ' |
Other assets | -3,500 | -2,000 | ' | -2,000 | ' | ' |
Total Assets | -212,515 | -240,647 | ' | -235,412 | ' | ' |
Accounts payable and accrued expenses: | ' | ' | ' | ' | ' | ' |
Total current liabilities | -30 | -22 | ' | -14,844 | ' | ' |
Shareholders' deficit: | ' | ' | ' | ' | ' | ' |
Common stock | -247 | -247 | ' | -247 | ' | ' |
Other paid-in capital | -211,766 | -211,606 | ' | -208,802 | ' | ' |
Accumulated other comprehensive loss | -3,273 | -3,175 | ' | 29,851 | ' | ' |
Accumulated earnings (deficit) | 26,221 | 3,449 | ' | 12,176 | ' | ' |
Total Westmoreland Coal Company shareholders' deficit | -189,065 | -211,579 | ' | -167,022 | ' | ' |
Noncontrolling interest | ' | 0 | ' | 0 | ' | ' |
Total equity (deficit) | ' | -211,579 | ' | -167,022 | ' | ' |
Total Liabilities and Shareholders' Deficit | -212,515 | -240,647 | ' | -235,412 | ' | ' |
Accounts Payable and Other Accrued Liabilities, Current | 0 | 1 | ' | -14,840 | ' | ' |
Production Taxes | 0 | 1 | ' | 0 | ' | ' |
Workers' Compensation Liability, Current | 0 | 0 | ' | 0 | ' | ' |
Postretirement Medical Benefits Current | 1 | 1 | ' | 0 | ' | ' |
Supplemental Executive Retirement Plan Current | 0 | 0 | ' | 0 | ' | ' |
Deferred Revenue, Current | 0 | 0 | ' | 0 | ' | ' |
Asset Retirement Obligation, Current | 0 | -1 | ' | 0 | ' | ' |
Other Sundry Liabilities, Current | -31 | -24 | ' | -4 | ' | ' |
Long-term debt, less current installments | -3,500 | -2,000 | ' | -2,000 | ' | ' |
Workers' Compensation Liability, Noncurrent | 0 | 0 | ' | 0 | ' | ' |
Excess of black lung benefit obligation over trust assets | 0 | 0 | ' | 0 | ' | ' |
Other Postretirement Defined Benefit Plan, Liabilities, Noncurrent | 0 | 0 | ' | 0 | ' | ' |
Defined Benefit Pension Plan, Liabilities, Noncurrent | 0 | 0 | ' | 0 | ' | ' |
Deferred Revenue, Noncurrent | 0 | -1 | ' | 0 | ' | ' |
Asset Retirement Obligations, Noncurrent | 0 | 0 | ' | 0 | ' | ' |
Intangible Liabilities Non Current | 0 | 0 | ' | 0 | ' | ' |
Other Liabilities, Noncurrent | 0 | -6,220 | ' | 0 | ' | ' |
Intercompany Payable | -19,920 | -20,825 | ' | -51,546 | ' | ' |
Liabilities | -23,450 | -29,068 | ' | -68,390 | ' | ' |
Preferred Stock, Value, Issued | $0 | $0 | ' | $0 | ' | ' |
SUPPLEMENTAL_CONSOLIDATING_FIN3
SUPPLEMENTAL CONSOLIDATING FINANCIAL INFORMATION - Supplemental Consolidating Statement of Operations Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | $180,202 | $173,947 | $176,792 | $162,499 | $161,448 | $159,027 | $161,332 | $132,842 | $147,236 | $674,686 | $600,437 | $501,713 |
Costs, expenses and other: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of sales | 138,630 | ' | ' | ' | 130,421 | ' | ' | ' | ' | 535,320 | 466,521 | 392,787 |
Depreciation, depletion and amortization | 16,059 | ' | ' | ' | 14,426 | ' | ' | ' | ' | 67,231 | 57,145 | 45,594 |
Selling and administrative | 13,331 | ' | ' | ' | 11,887 | ' | ' | ' | ' | 50,721 | 49,908 | 40,276 |
Heritage health benefit expenses | 3,544 | ' | ' | ' | 3,951 | ' | ' | ' | ' | 13,418 | 13,388 | 18,575 |
Loss (gain) on sales of assets | 38 | ' | ' | ' | -234 | ' | ' | ' | ' | -74 | 528 | 640 |
Restructuring charges | 397 | ' | ' | ' | 0 | ' | ' | ' | ' | 5,078 | 0 | 0 |
Other operating income | 150 | ' | ' | ' | -4,737 | ' | ' | ' | ' | -22,370 | -15,925 | -6,785 |
Total costs, expenses and other | 172,149 | ' | ' | ' | 155,714 | ' | ' | ' | ' | 649,324 | 571,565 | 491,087 |
Operating income (loss) | 8,053 | -883 | 8,536 | 11,975 | 5,734 | 8,597 | 15,451 | -4,262 | 9,086 | 25,362 | 28,872 | 10,626 |
Other income (expense): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest expense | -20,798 | ' | ' | ' | -10,160 | ' | ' | ' | ' | -39,937 | -42,677 | -29,769 |
Loss on extinguishment of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | -64 | -1,986 | -17,030 |
Interest income | 302 | ' | ' | ' | 297 | ' | ' | ' | ' | 1,366 | 1,496 | 1,444 |
Loss on foreign exchange | -6,790 | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' |
Other income (loss) | 93 | ' | ' | ' | 70 | ' | ' | ' | ' | 364 | 723 | -2,572 |
Total other income (expense) | -27,193 | ' | ' | ' | -9,793 | ' | ' | ' | ' | -38,271 | -42,444 | -47,927 |
Income (loss) before income taxes and income of consolidated subsidiaries | -19,140 | ' | ' | ' | -4,059 | ' | ' | ' | ' | -12,909 | -13,572 | -37,301 |
Equity in income of subsidiaries | 0 | ' | ' | ' | 0 | ' | ' | ' | ' | 0 | 0 | 0 |
Loss before income taxes | -19,140 | ' | ' | ' | -4,059 | ' | ' | ' | ' | -12,909 | -13,572 | -37,301 |
Income tax expense (benefit) | -110 | ' | ' | ' | 28 | ' | ' | ' | ' | -4,782 | 90 | -426 |
Less net loss attributable to noncontrolling interest | 0 | ' | ' | ' | -1,702 | ' | ' | ' | ' | -3,430 | -6,436 | -3,775 |
Net income (loss) attributable to the Parent company | -19,030 | ' | ' | ' | -2,385 | ' | ' | ' | ' | -4,697 | -7,226 | -33,100 |
Net loss | -19,030 | ' | ' | ' | -4,087 | ' | ' | ' | ' | -8,127 | -13,662 | -36,875 |
Parent Company [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Costs, expenses and other: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,525 | -587 | -158 |
Depreciation, depletion and amortization | ' | ' | ' | ' | ' | ' | ' | ' | ' | 357 | 421 | 306 |
Selling and administrative | ' | ' | ' | ' | ' | ' | ' | ' | ' | 19,027 | 18,407 | 13,394 |
Heritage health benefit expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12,361 | 12,406 | 17,754 |
Loss (gain) on sales of assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 13 | 3 |
Restructuring charges | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Other operating income | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Total costs, expenses and other | 8,144 | ' | ' | ' | 7,334 | ' | ' | ' | ' | 30,220 | 30,660 | 31,299 |
Operating income (loss) | -8,144 | ' | ' | ' | ' | ' | ' | ' | ' | -30,220 | -30,660 | -31,299 |
Other income (expense): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | -30,417 | -31,301 | -16,365 |
Loss on extinguishment of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | -64 | -1,986 | -7,873 |
Interest income | ' | ' | ' | ' | ' | ' | ' | ' | ' | 165 | 253 | 266 |
Other income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 190 | -3,014 |
Total other income (expense) | -25,339 | ' | ' | ' | -7,554 | ' | ' | ' | ' | -30,316 | -32,844 | -26,986 |
Income (loss) before income taxes and income of consolidated subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | -60,536 | -63,504 | -58,285 |
Equity in income of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | 47,514 | 49,834 | 21,128 |
Loss before income taxes | -19,168 | ' | ' | ' | -4,087 | ' | ' | ' | ' | -13,022 | -13,670 | -37,157 |
Income tax expense (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | ' | -4,895 | -8 | -282 |
Less net loss attributable to noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | -3,430 | -6,436 | -3,775 |
Net income (loss) attributable to the Parent company | -19,030 | ' | ' | ' | -2,385 | ' | ' | ' | ' | -4,697 | -7,226 | -33,100 |
Net loss | -19,030 | ' | ' | ' | -4,087 | ' | ' | ' | ' | -8,127 | -13,662 | -36,875 |
Co-Issuer [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | 87,567 | 81,285 | 86,785 |
Costs, expenses and other: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | 63,794 | 59,299 | 60,243 |
Depreciation, depletion and amortization | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,178 | 10,085 | 10,175 |
Selling and administrative | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,609 | 3,657 | 4,059 |
Heritage health benefit expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Loss (gain) on sales of assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 189 |
Restructuring charges | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,078 | ' | ' |
Other operating income | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Total costs, expenses and other | 20,269 | ' | ' | ' | 20,340 | ' | ' | ' | ' | 82,659 | 73,041 | 74,666 |
Operating income (loss) | 1,743 | ' | ' | ' | ' | ' | ' | ' | ' | 4,908 | 8,244 | 12,119 |
Other income (expense): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | -39 | -39 | -469 |
Loss on extinguishment of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | -9,073 |
Interest income | ' | ' | ' | ' | ' | ' | ' | ' | ' | 26 | 15 | 14 |
Other income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Total other income (expense) | -40 | ' | ' | ' | 0 | ' | ' | ' | ' | -13 | -24 | -9,528 |
Income (loss) before income taxes and income of consolidated subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,895 | 8,220 | 2,591 |
Equity in income of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Loss before income taxes | 1,703 | ' | ' | ' | -1,004 | ' | ' | ' | ' | 4,895 | 8,220 | 2,591 |
Income tax expense (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 680 | 107 | -2,498 |
Less net loss attributable to noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Net income (loss) attributable to the Parent company | 1,703 | ' | ' | ' | -1,004 | ' | ' | ' | ' | 4,215 | 8,113 | 5,089 |
Net loss | 1,703 | ' | ' | ' | -1,004 | ' | ' | ' | ' | 4,215 | 8,113 | 5,089 |
Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | 571,021 | 511,570 | 390,621 |
Costs, expenses and other: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | 453,508 | 393,793 | 304,652 |
Depreciation, depletion and amortization | ' | ' | ' | ' | ' | ' | ' | ' | ' | 56,696 | 46,639 | 35,113 |
Selling and administrative | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30,596 | 29,334 | 23,850 |
Heritage health benefit expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | -1 | 0 |
Loss (gain) on sales of assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | -74 | 515 | 448 |
Restructuring charges | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Other operating income | ' | ' | ' | ' | ' | ' | ' | ' | ' | -22,370 | -17,452 | -7,258 |
Total costs, expenses and other | 143,853 | ' | ' | ' | 124,055 | ' | ' | ' | ' | 518,356 | 452,828 | 356,805 |
Operating income (loss) | 14,344 | ' | ' | ' | ' | ' | ' | ' | ' | 52,665 | 58,742 | 33,816 |
Other income (expense): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | -9,495 | -11,349 | -12,957 |
Loss on extinguishment of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | -84 |
Interest income | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,190 | 1,289 | 1,229 |
Other income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 364 | 533 | 418 |
Total other income (expense) | -1,820 | ' | ' | ' | -2,238 | ' | ' | ' | ' | -7,941 | -9,527 | -11,394 |
Income (loss) before income taxes and income of consolidated subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | 44,724 | 49,215 | 22,422 |
Equity in income of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Loss before income taxes | 12,524 | ' | ' | ' | 13,445 | ' | ' | ' | ' | 44,724 | 49,215 | 22,422 |
Income tax expense (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8,414 | 4,410 | 7,236 |
Less net loss attributable to noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Net income (loss) attributable to the Parent company | 7,409 | ' | ' | ' | 10,126 | ' | ' | ' | ' | 36,310 | 44,805 | 15,186 |
Net loss | 7,409 | ' | ' | ' | 10,126 | ' | ' | ' | ' | 36,310 | 44,805 | 15,186 |
Non-Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | 57,545 | 39,041 | 79,831 |
Costs, expenses and other: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | 60,990 | 45,475 | 83,574 |
Depreciation, depletion and amortization | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Selling and administrative | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2,511 | 37 | -554 |
Heritage health benefit expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,057 | 983 | 821 |
Loss (gain) on sales of assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Restructuring charges | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Other operating income | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Total costs, expenses and other | -117 | ' | ' | ' | 12,961 | ' | ' | ' | ' | 59,536 | 46,495 | 83,841 |
Operating income (loss) | 110 | ' | ' | ' | ' | ' | ' | ' | ' | -1,991 | -7,454 | -4,010 |
Other income (expense): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | -21 | -68 | -70 |
Loss on extinguishment of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Interest income | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20 | 19 | 27 |
Other income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 24 |
Total other income (expense) | 6 | ' | ' | ' | -1 | ' | ' | ' | ' | -1 | -49 | -19 |
Income (loss) before income taxes and income of consolidated subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,992 | -7,503 | -4,029 |
Equity in income of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Loss before income taxes | 116 | ' | ' | ' | -1,612 | ' | ' | ' | ' | -1,992 | -7,503 | -4,029 |
Income tax expense (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Less net loss attributable to noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Net income (loss) attributable to the Parent company | 116 | ' | ' | ' | -1,612 | ' | ' | ' | ' | -1,992 | -7,503 | -4,029 |
Net loss | 116 | ' | ' | ' | -1,612 | ' | ' | ' | ' | -1,992 | -7,503 | -4,029 |
Consolidating Adjustments [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | -41,447 | -31,459 | -55,524 |
Costs, expenses and other: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | -41,447 | -31,459 | -55,524 |
Depreciation, depletion and amortization | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Selling and administrative | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | -1,527 | -473 |
Heritage health benefit expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Loss (gain) on sales of assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Restructuring charges | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Other operating income | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 1,527 | 473 |
Total costs, expenses and other | 0 | ' | ' | ' | -8,976 | ' | ' | ' | ' | -41,447 | -31,459 | -55,524 |
Operating income (loss) | 0 | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Other income (expense): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | 35 | 80 | 92 |
Loss on extinguishment of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Interest income | ' | ' | ' | ' | ' | ' | ' | ' | ' | -35 | -80 | -92 |
Other income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Total other income (expense) | 0 | ' | ' | ' | 0 | ' | ' | ' | ' | 0 | 0 | 0 |
Income (loss) before income taxes and income of consolidated subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Equity in income of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | -47,514 | -49,834 | -21,128 |
Loss before income taxes | -14,315 | ' | ' | ' | -10,801 | ' | ' | ' | ' | -47,514 | -49,834 | -21,128 |
Income tax expense (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | ' | -8,981 | -4,419 | -4,882 |
Less net loss attributable to noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Net income (loss) attributable to the Parent company | -9,228 | ' | ' | ' | -7,510 | ' | ' | ' | ' | -38,533 | -45,415 | -16,246 |
Net loss | -9,228 | ' | ' | ' | -7,510 | ' | ' | ' | ' | -38,533 | -45,415 | -16,246 |
Scenario, Previously Reported [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | 180,202 | ' | ' | ' | 161,448 | ' | ' | ' | ' | 674,686 | 600,437 | 501,713 |
Costs, expenses and other: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of sales | 138,630 | ' | ' | ' | 130,421 | ' | ' | ' | ' | 535,320 | 466,521 | 392,787 |
Depreciation, depletion and amortization | 16,059 | ' | ' | ' | 14,426 | ' | ' | ' | ' | 67,231 | 57,145 | 45,594 |
Selling and administrative | 13,331 | ' | ' | ' | 11,887 | ' | ' | ' | ' | 50,721 | 49,908 | 40,276 |
Heritage health benefit expenses | 3,544 | ' | ' | ' | 3,951 | ' | ' | ' | ' | 13,418 | 13,388 | 18,575 |
Loss (gain) on sales of assets | 38 | ' | ' | ' | -234 | ' | ' | ' | ' | -74 | 528 | 640 |
Restructuring charges | 397 | ' | ' | ' | ' | ' | ' | ' | ' | 5,078 | ' | ' |
Other operating income | 150 | ' | ' | ' | -4,737 | ' | ' | ' | ' | -22,370 | -15,925 | -6,785 |
Total costs, expenses and other | 172,149 | ' | ' | ' | 155,714 | ' | ' | ' | ' | 649,324 | 571,565 | 491,087 |
Operating income (loss) | 8,053 | ' | ' | ' | 5,734 | ' | ' | ' | ' | 25,362 | 28,872 | 10,626 |
Other income (expense): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest expense | -20,798 | ' | ' | ' | -10,160 | ' | ' | ' | ' | -39,937 | -42,677 | -29,769 |
Loss on extinguishment of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | -64 | -1,986 | -17,030 |
Interest income | 302 | ' | ' | ' | 297 | ' | ' | ' | ' | 1,366 | 1,496 | 1,444 |
Loss on foreign exchange | -6,790 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other income (loss) | 93 | ' | ' | ' | 70 | ' | ' | ' | ' | 364 | 723 | -2,572 |
Total other income (expense) | -27,193 | ' | ' | ' | -9,793 | ' | ' | ' | ' | -38,271 | -42,444 | -47,927 |
Income (loss) before income taxes and income of consolidated subsidiaries | -19,140 | ' | ' | ' | -4,059 | ' | ' | ' | ' | -12,909 | -13,572 | -37,301 |
Equity in income of subsidiaries | 0 | ' | ' | ' | 0 | ' | ' | ' | ' | 0 | 0 | 0 |
Loss before income taxes | -19,140 | ' | ' | ' | -4,059 | ' | ' | ' | ' | -12,909 | -13,572 | -37,301 |
Income tax expense (benefit) | -110 | ' | ' | ' | 28 | ' | ' | ' | ' | -4,782 | 90 | -426 |
Less net loss attributable to noncontrolling interest | 0 | ' | ' | ' | -1,702 | ' | ' | ' | ' | -3,430 | -6,436 | -3,775 |
Net income (loss) attributable to the Parent company | -19,030 | ' | ' | ' | -2,385 | ' | ' | ' | ' | -4,697 | -7,226 | -33,100 |
Net loss | -19,030 | ' | ' | ' | -4,087 | ' | ' | ' | ' | -8,127 | -13,662 | -36,875 |
Scenario, Previously Reported [Member] | Parent Company [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | 0 | ' | ' | ' | 0 | ' | ' | ' | ' | 0 | 0 | 0 |
Costs, expenses and other: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of sales | 0 | ' | ' | ' | 0 | ' | ' | ' | ' | 0 | 0 | 0 |
Depreciation, depletion and amortization | 76 | ' | ' | ' | 94 | ' | ' | ' | ' | 354 | 421 | 306 |
Selling and administrative | 3,746 | ' | ' | ' | 3,054 | ' | ' | ' | ' | 12,339 | 13,748 | 10,616 |
Heritage health benefit expenses | 3,326 | ' | ' | ' | 3,689 | ' | ' | ' | ' | 12,361 | 12,406 | 17,754 |
Loss (gain) on sales of assets | 0 | ' | ' | ' | 0 | ' | ' | ' | ' | 0 | 13 | 3 |
Restructuring charges | 0 | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Other operating income | 0 | ' | ' | ' | 0 | ' | ' | ' | ' | 0 | 0 | 0 |
Total costs, expenses and other | 7,148 | ' | ' | ' | 6,837 | ' | ' | ' | ' | 25,054 | 26,588 | 28,679 |
Operating income (loss) | -7,148 | ' | ' | ' | -6,837 | ' | ' | ' | ' | -25,054 | -26,588 | -28,679 |
Other income (expense): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest expense | -18,673 | ' | ' | ' | -7,584 | ' | ' | ' | ' | -30,417 | -31,301 | -16,365 |
Loss on extinguishment of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | -64 | -1,986 | -7,873 |
Interest income | 123 | ' | ' | ' | 30 | ' | ' | ' | ' | 165 | 253 | 266 |
Loss on foreign exchange | -6,790 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other income (loss) | 1 | ' | ' | ' | 0 | ' | ' | ' | ' | 1 | 190 | -3,014 |
Total other income (expense) | -25,339 | ' | ' | ' | -7,554 | ' | ' | ' | ' | -30,315 | -32,844 | -26,986 |
Income (loss) before income taxes and income of consolidated subsidiaries | -32,487 | ' | ' | ' | -14,391 | ' | ' | ' | ' | -55,369 | -59,432 | -55,665 |
Equity in income of subsidiaries | 13,319 | ' | ' | ' | 10,304 | ' | ' | ' | ' | 42,347 | 45,762 | 18,508 |
Loss before income taxes | -19,168 | ' | ' | ' | -4,087 | ' | ' | ' | ' | -13,022 | -13,670 | -37,157 |
Income tax expense (benefit) | -138 | ' | ' | ' | 0 | ' | ' | ' | ' | -4,895 | -8 | -282 |
Less net loss attributable to noncontrolling interest | 0 | ' | ' | ' | -1,702 | ' | ' | ' | ' | -3,430 | -6,436 | -3,775 |
Net income (loss) attributable to the Parent company | -19,030 | ' | ' | ' | -2,385 | ' | ' | ' | ' | -4,697 | -7,226 | -33,100 |
Net loss | -19,030 | ' | ' | ' | -4,087 | ' | ' | ' | ' | -8,127 | -13,662 | -36,875 |
Scenario, Previously Reported [Member] | Co-Issuer [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | 22,012 | ' | ' | ' | 19,336 | ' | ' | ' | ' | 87,567 | 81,285 | 86,785 |
Costs, expenses and other: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of sales | 16,454 | ' | ' | ' | 16,954 | ' | ' | ' | ' | 63,794 | 59,299 | 60,243 |
Depreciation, depletion and amortization | 2,524 | ' | ' | ' | 2,531 | ' | ' | ' | ' | 10,178 | 10,085 | 10,175 |
Selling and administrative | 894 | ' | ' | ' | 855 | ' | ' | ' | ' | 3,609 | 3,657 | 4,059 |
Heritage health benefit expenses | 0 | ' | ' | ' | 0 | ' | ' | ' | ' | 0 | 0 | 0 |
Loss (gain) on sales of assets | 0 | ' | ' | ' | 0 | ' | ' | ' | ' | 0 | 0 | 189 |
Restructuring charges | 397 | ' | ' | ' | ' | ' | ' | ' | ' | 5,078 | ' | ' |
Other operating income | 0 | ' | ' | ' | 0 | ' | ' | ' | ' | 0 | 0 | 0 |
Total costs, expenses and other | 20,269 | ' | ' | ' | 20,340 | ' | ' | ' | ' | 82,659 | 73,041 | 74,666 |
Operating income (loss) | 1,743 | ' | ' | ' | -1,004 | ' | ' | ' | ' | 4,908 | 8,244 | 12,119 |
Other income (expense): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest expense | -44 | ' | ' | ' | -10 | ' | ' | ' | ' | -39 | -39 | -469 |
Loss on extinguishment of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | -9,073 |
Interest income | 4 | ' | ' | ' | 10 | ' | ' | ' | ' | 26 | 15 | 14 |
Loss on foreign exchange | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other income (loss) | 0 | ' | ' | ' | 0 | ' | ' | ' | ' | 0 | 0 | 0 |
Total other income (expense) | -40 | ' | ' | ' | 0 | ' | ' | ' | ' | -13 | -24 | -9,528 |
Income (loss) before income taxes and income of consolidated subsidiaries | 1,703 | ' | ' | ' | -1,004 | ' | ' | ' | ' | 4,895 | 8,220 | 2,591 |
Equity in income of subsidiaries | 0 | ' | ' | ' | 0 | ' | ' | ' | ' | 0 | 0 | 0 |
Loss before income taxes | 1,703 | ' | ' | ' | -1,004 | ' | ' | ' | ' | 4,895 | 8,220 | 2,591 |
Income tax expense (benefit) | 0 | ' | ' | ' | 0 | ' | ' | ' | ' | 680 | 107 | -2,498 |
Less net loss attributable to noncontrolling interest | 0 | ' | ' | ' | 0 | ' | ' | ' | ' | 0 | 0 | 0 |
Net income (loss) attributable to the Parent company | 1,703 | ' | ' | ' | -1,004 | ' | ' | ' | ' | 4,215 | 8,113 | 5,089 |
Net loss | 1,703 | ' | ' | ' | -1,004 | ' | ' | ' | ' | 4,215 | 8,113 | 5,089 |
Scenario, Previously Reported [Member] | Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | 64,292 | ' | ' | ' | 50,687 | ' | ' | ' | ' | 214,481 | 184,506 | 58,544 |
Costs, expenses and other: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of sales | 50,558 | ' | ' | ' | 40,421 | ' | ' | ' | ' | 174,204 | 134,683 | 49,439 |
Depreciation, depletion and amortization | 6,269 | ' | ' | ' | 5,189 | ' | ' | ' | ' | 27,452 | 19,571 | 7,936 |
Selling and administrative | 2,994 | ' | ' | ' | 2,637 | ' | ' | ' | ' | 11,092 | 9,993 | 4,566 |
Heritage health benefit expenses | 0 | ' | ' | ' | 0 | ' | ' | ' | ' | 0 | 0 | 0 |
Loss (gain) on sales of assets | -1 | ' | ' | ' | -133 | ' | ' | ' | ' | 115 | 251 | 59 |
Restructuring charges | 0 | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Other operating income | 150 | ' | ' | ' | -4,737 | ' | ' | ' | ' | -22,367 | -17,452 | -7,258 |
Total costs, expenses and other | 59,970 | ' | ' | ' | 43,377 | ' | ' | ' | ' | 190,496 | 147,046 | 54,742 |
Operating income (loss) | 4,322 | ' | ' | ' | 7,310 | ' | ' | ' | ' | 23,985 | 37,460 | 3,802 |
Other income (expense): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest expense | -110 | ' | ' | ' | -74 | ' | ' | ' | ' | -295 | -378 | -657 |
Loss on extinguishment of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | -84 |
Interest income | 25 | ' | ' | ' | 44 | ' | ' | ' | ' | 522 | 294 | 206 |
Loss on foreign exchange | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other income (loss) | 55 | ' | ' | ' | 92 | ' | ' | ' | ' | 328 | 395 | 170 |
Total other income (expense) | -30 | ' | ' | ' | 62 | ' | ' | ' | ' | 555 | 311 | -365 |
Income (loss) before income taxes and income of consolidated subsidiaries | 4,292 | ' | ' | ' | 7,372 | ' | ' | ' | ' | 24,540 | 37,771 | 3,437 |
Equity in income of subsidiaries | 0 | ' | ' | ' | 0 | ' | ' | ' | ' | 0 | 0 | 0 |
Loss before income taxes | 4,292 | ' | ' | ' | 7,372 | ' | ' | ' | ' | 24,540 | 37,771 | 3,437 |
Income tax expense (benefit) | -1,511 | ' | ' | ' | 496 | ' | ' | ' | ' | 8,461 | 0 | -26 |
Less net loss attributable to noncontrolling interest | 0 | ' | ' | ' | 0 | ' | ' | ' | ' | 0 | 0 | 0 |
Net income (loss) attributable to the Parent company | 5,803 | ' | ' | ' | 6,876 | ' | ' | ' | ' | 16,079 | 37,771 | 3,463 |
Net loss | 5,803 | ' | ' | ' | 6,876 | ' | ' | ' | ' | 16,079 | 37,771 | 3,463 |
Scenario, Previously Reported [Member] | Non-Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | 93,898 | ' | ' | ' | 100,401 | ' | ' | ' | ' | 414,085 | 366,105 | 411,908 |
Costs, expenses and other: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of sales | 71,618 | ' | ' | ' | 82,022 | ' | ' | ' | ' | 338,769 | 303,998 | 338,629 |
Depreciation, depletion and amortization | 7,190 | ' | ' | ' | 6,612 | ' | ' | ' | ' | 29,247 | 27,068 | 27,177 |
Selling and administrative | 5,697 | ' | ' | ' | 5,341 | ' | ' | ' | ' | 23,681 | 24,037 | 21,508 |
Heritage health benefit expenses | 218 | ' | ' | ' | 262 | ' | ' | ' | ' | 1,057 | 982 | 821 |
Loss (gain) on sales of assets | 39 | ' | ' | ' | -101 | ' | ' | ' | ' | -189 | 264 | 389 |
Restructuring charges | 0 | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Other operating income | 0 | ' | ' | ' | 0 | ' | ' | ' | ' | -3 | 0 | 0 |
Total costs, expenses and other | 84,762 | ' | ' | ' | 94,136 | ' | ' | ' | ' | 392,562 | 356,349 | 388,524 |
Operating income (loss) | 9,136 | ' | ' | ' | 6,265 | ' | ' | ' | ' | 21,523 | 9,756 | 23,384 |
Other income (expense): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest expense | -1,978 | ' | ' | ' | -2,500 | ' | ' | ' | ' | -9,221 | -11,039 | -12,370 |
Loss on extinguishment of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Interest income | 157 | ' | ' | ' | 221 | ' | ' | ' | ' | 688 | 1,014 | 1,050 |
Loss on foreign exchange | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other income (loss) | 37 | ' | ' | ' | -22 | ' | ' | ' | ' | 35 | 138 | 272 |
Total other income (expense) | -1,784 | ' | ' | ' | -2,301 | ' | ' | ' | ' | -8,498 | -9,887 | -11,048 |
Income (loss) before income taxes and income of consolidated subsidiaries | 7,352 | ' | ' | ' | 3,964 | ' | ' | ' | ' | 13,025 | -131 | 12,336 |
Equity in income of subsidiaries | 0 | ' | ' | ' | 0 | ' | ' | ' | ' | 0 | 0 | 0 |
Loss before income taxes | 7,352 | ' | ' | ' | 3,964 | ' | ' | ' | ' | 13,025 | -131 | 12,336 |
Income tax expense (benefit) | 6,626 | ' | ' | ' | 2,823 | ' | ' | ' | ' | -47 | 4,410 | 7,263 |
Less net loss attributable to noncontrolling interest | 0 | ' | ' | ' | 0 | ' | ' | ' | ' | 0 | 0 | 0 |
Net income (loss) attributable to the Parent company | 726 | ' | ' | ' | 1,141 | ' | ' | ' | ' | 13,072 | -4,541 | 5,073 |
Net loss | 726 | ' | ' | ' | 1,141 | ' | ' | ' | ' | 13,072 | -4,541 | 5,073 |
Scenario, Previously Reported [Member] | Consolidating Adjustments [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | 0 | ' | ' | ' | -8,976 | ' | ' | ' | ' | -41,447 | -31,459 | -55,524 |
Costs, expenses and other: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of sales | 0 | ' | ' | ' | -8,976 | ' | ' | ' | ' | -41,447 | -31,459 | -55,524 |
Depreciation, depletion and amortization | 0 | ' | ' | ' | 0 | ' | ' | ' | ' | 0 | 0 | 0 |
Selling and administrative | 0 | ' | ' | ' | 0 | ' | ' | ' | ' | 0 | -1,527 | -473 |
Heritage health benefit expenses | 0 | ' | ' | ' | 0 | ' | ' | ' | ' | 0 | 0 | 0 |
Loss (gain) on sales of assets | 0 | ' | ' | ' | 0 | ' | ' | ' | ' | 0 | 0 | 0 |
Restructuring charges | 0 | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Other operating income | 0 | ' | ' | ' | 0 | ' | ' | ' | ' | 0 | 1,527 | 473 |
Total costs, expenses and other | 0 | ' | ' | ' | -8,976 | ' | ' | ' | ' | -41,447 | -31,459 | -55,524 |
Operating income (loss) | 0 | ' | ' | ' | 0 | ' | ' | ' | ' | 0 | 0 | 0 |
Other income (expense): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest expense | 7 | ' | ' | ' | 8 | ' | ' | ' | ' | 35 | 80 | 92 |
Loss on extinguishment of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Interest income | -7 | ' | ' | ' | -8 | ' | ' | ' | ' | -35 | -80 | -92 |
Loss on foreign exchange | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other income (loss) | 0 | ' | ' | ' | 0 | ' | ' | ' | ' | 0 | 0 | 0 |
Total other income (expense) | 0 | ' | ' | ' | 0 | ' | ' | ' | ' | 0 | 0 | 0 |
Income (loss) before income taxes and income of consolidated subsidiaries | 0 | ' | ' | ' | 0 | ' | ' | ' | ' | 0 | 0 | 0 |
Equity in income of subsidiaries | -13,319 | ' | ' | ' | -10,304 | ' | ' | ' | ' | -42,347 | -45,762 | -18,508 |
Loss before income taxes | -13,319 | ' | ' | ' | -10,304 | ' | ' | ' | ' | -42,347 | -45,762 | -18,508 |
Income tax expense (benefit) | -5,087 | ' | ' | ' | -3,291 | ' | ' | ' | ' | -8,981 | -4,419 | -4,883 |
Less net loss attributable to noncontrolling interest | 0 | ' | ' | ' | 0 | ' | ' | ' | ' | 0 | 0 | 0 |
Net income (loss) attributable to the Parent company | -8,232 | ' | ' | ' | -7,013 | ' | ' | ' | ' | -33,366 | -41,343 | -13,625 |
Net loss | ($8,232) | ' | ' | ' | ($7,013) | ' | ' | ' | ' | ($33,366) | ($41,343) | ($13,625) |
SUPPLEMENTAL_CONSOLIDATING_FIN4
SUPPLEMENTAL CONSOLIDATING FINANCIAL INFORMATION - Supplemental Consolidating Statements of Comprehensive Income (Loss) (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' |
Net income (loss) | ($19,030) | ($4,087) | ($8,127) | ($13,662) | ($36,875) |
Other comprehensive income (loss) | ' | ' | ' | ' | ' |
Amortization of accumulated actuarial gains or losses, pension | 359 | 741 | 3,490 | 2,960 | 1,647 |
Adjustments to accumulated actuarial losses and transition obligations, pension | ' | ' | 28,974 | -9,812 | -15,798 |
Amortization of accumulated actuarial gains or losses, transition obligations, and prior service costs, postretirement medical benefit | 5 | 1,001 | 4,005 | 2,572 | -288 |
Adjustments to accumulated actuarial gains and transition obligations, postretirement medical benefits | ' | ' | 53,230 | -22,342 | -49,136 |
Tax effect of other comprehensive income gains | -138 | 0 | -4,892 | 0 | 0 |
Unrealized and realized gains and losses on available-for-sale securities | ' | ' | -57 | -268 | -200 |
Other comprehensive loss | 226 | 1,742 | 84,750 | -26,890 | -63,775 |
Comprehensive income (loss) attributable to Westmoreland Coal Company | -18,804 | -2,345 | 76,623 | -40,552 | -100,650 |
Parent Company [Member] | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' |
Net income (loss) | -19,030 | -4,087 | -8,127 | -13,662 | -36,875 |
Other comprehensive income (loss) | ' | ' | ' | ' | ' |
Amortization of accumulated actuarial gains or losses, pension | ' | ' | 3,490 | 2,960 | 1,647 |
Adjustments to accumulated actuarial losses and transition obligations, pension | ' | ' | 28,974 | -9,812 | -15,798 |
Amortization of accumulated actuarial gains or losses, transition obligations, and prior service costs, postretirement medical benefit | ' | ' | 4,005 | 2,572 | -288 |
Adjustments to accumulated actuarial gains and transition obligations, postretirement medical benefits | ' | ' | 53,230 | -22,342 | -49,136 |
Tax effect of other comprehensive income gains | ' | ' | -4,892 | ' | ' |
Unrealized and realized gains and losses on available-for-sale securities | ' | ' | -57 | -268 | -200 |
Other comprehensive loss | 226 | 1,742 | 84,750 | -26,890 | -63,775 |
Comprehensive income (loss) attributable to Westmoreland Coal Company | -18,804 | -2,345 | 76,623 | -40,552 | -100,650 |
Co-Issuer [Member] | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' |
Net income (loss) | 1,703 | -1,004 | 4,215 | 8,113 | 5,089 |
Other comprehensive income (loss) | ' | ' | ' | ' | ' |
Amortization of accumulated actuarial gains or losses, pension | ' | ' | 28 | 23 | 9 |
Adjustments to accumulated actuarial losses and transition obligations, pension | ' | ' | 180 | -52 | -150 |
Amortization of accumulated actuarial gains or losses, transition obligations, and prior service costs, postretirement medical benefit | ' | ' | 0 | 0 | 0 |
Adjustments to accumulated actuarial gains and transition obligations, postretirement medical benefits | ' | ' | 180 | 0 | 0 |
Tax effect of other comprehensive income gains | ' | ' | 0 | ' | ' |
Unrealized and realized gains and losses on available-for-sale securities | ' | ' | 0 | 0 | 0 |
Other comprehensive loss | 2 | 6 | 388 | -29 | -141 |
Comprehensive income (loss) attributable to Westmoreland Coal Company | 1,705 | -998 | 4,603 | 8,084 | 4,948 |
Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' |
Net income (loss) | 7,409 | 10,126 | 36,310 | 44,805 | 15,186 |
Other comprehensive income (loss) | ' | ' | ' | ' | ' |
Amortization of accumulated actuarial gains or losses, pension | ' | ' | 801 | 720 | 86 |
Adjustments to accumulated actuarial losses and transition obligations, pension | ' | ' | 13,331 | -5,144 | 72 |
Amortization of accumulated actuarial gains or losses, transition obligations, and prior service costs, postretirement medical benefit | ' | ' | 577 | 823 | 348 |
Adjustments to accumulated actuarial gains and transition obligations, postretirement medical benefits | ' | ' | 14,548 | -1,367 | -5,934 |
Tax effect of other comprehensive income gains | ' | ' | 0 | ' | ' |
Unrealized and realized gains and losses on available-for-sale securities | ' | ' | -55 | -64 | -203 |
Other comprehensive loss | 86 | 324 | 29,202 | -5,032 | -5,631 |
Comprehensive income (loss) attributable to Westmoreland Coal Company | 7,495 | 10,450 | 65,512 | 39,773 | 9,555 |
Non-Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' |
Net income (loss) | 116 | -1,612 | -1,992 | -7,503 | -4,029 |
Other comprehensive income (loss) | ' | ' | ' | ' | ' |
Amortization of accumulated actuarial gains or losses, pension | ' | ' | 61 | 46 | 36 |
Adjustments to accumulated actuarial losses and transition obligations, pension | ' | ' | 475 | -22 | -516 |
Amortization of accumulated actuarial gains or losses, transition obligations, and prior service costs, postretirement medical benefit | ' | ' | 275 | 150 | -54 |
Adjustments to accumulated actuarial gains and transition obligations, postretirement medical benefits | ' | ' | 2,804 | -1,467 | -3,335 |
Tax effect of other comprehensive income gains | ' | ' | 0 | ' | ' |
Unrealized and realized gains and losses on available-for-sale securities | ' | ' | 0 | 0 | 0 |
Other comprehensive loss | 11 | 82 | 3,615 | -1,293 | -3,869 |
Comprehensive income (loss) attributable to Westmoreland Coal Company | 127 | -1,530 | 1,623 | -8,796 | -7,898 |
Consolidating Adjustments [Member] | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' |
Net income (loss) | -9,228 | -7,510 | -38,533 | -45,415 | -16,246 |
Other comprehensive income (loss) | ' | ' | ' | ' | ' |
Amortization of accumulated actuarial gains or losses, pension | ' | ' | -890 | -789 | -131 |
Adjustments to accumulated actuarial losses and transition obligations, pension | ' | ' | -13,986 | 5,218 | 594 |
Amortization of accumulated actuarial gains or losses, transition obligations, and prior service costs, postretirement medical benefit | ' | ' | -852 | -973 | -294 |
Adjustments to accumulated actuarial gains and transition obligations, postretirement medical benefits | ' | ' | -17,532 | 2,834 | 9,269 |
Tax effect of other comprehensive income gains | ' | ' | 0 | ' | ' |
Unrealized and realized gains and losses on available-for-sale securities | ' | ' | 55 | 64 | 203 |
Other comprehensive loss | -99 | -412 | -33,205 | 6,354 | 9,641 |
Comprehensive income (loss) attributable to Westmoreland Coal Company | -9,327 | -7,922 | -71,738 | -39,061 | -6,605 |
Scenario, Previously Reported [Member] | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' |
Net income (loss) | -19,030 | -4,087 | -8,127 | -13,662 | -36,875 |
Other comprehensive income (loss) | ' | ' | ' | ' | ' |
Amortization of accumulated actuarial gains or losses, pension | 359 | 741 | 3,490 | 2,960 | 1,647 |
Adjustments to accumulated actuarial losses and transition obligations, pension | ' | ' | 28,974 | -9,812 | -15,798 |
Amortization of accumulated actuarial gains or losses, transition obligations, and prior service costs, postretirement medical benefit | 5 | 1,001 | 4,005 | 2,572 | -288 |
Adjustments to accumulated actuarial gains and transition obligations, postretirement medical benefits | ' | ' | 53,230 | -22,342 | -49,136 |
Tax effect of other comprehensive income gains | -138 | ' | -4,892 | ' | ' |
Unrealized and realized gains and losses on available-for-sale securities | ' | ' | -57 | -268 | -200 |
Other comprehensive loss | 226 | 1,742 | 84,750 | -26,890 | -63,775 |
Comprehensive income (loss) attributable to Westmoreland Coal Company | -18,804 | -2,345 | 76,623 | -40,552 | -100,650 |
Scenario, Previously Reported [Member] | Parent Company [Member] | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' |
Net income (loss) | -19,030 | -4,087 | -8,127 | -13,662 | -36,875 |
Other comprehensive income (loss) | ' | ' | ' | ' | ' |
Amortization of accumulated actuarial gains or losses, pension | 359 | 741 | 3,490 | 2,960 | 1,647 |
Adjustments to accumulated actuarial losses and transition obligations, pension | ' | ' | 28,974 | -9,812 | -15,798 |
Amortization of accumulated actuarial gains or losses, transition obligations, and prior service costs, postretirement medical benefit | 5 | 1,001 | 4,005 | 2,572 | -288 |
Adjustments to accumulated actuarial gains and transition obligations, postretirement medical benefits | ' | ' | 53,230 | -22,342 | -49,136 |
Tax effect of other comprehensive income gains | -138 | ' | -4,892 | ' | ' |
Unrealized and realized gains and losses on available-for-sale securities | ' | ' | -57 | -268 | -200 |
Other comprehensive loss | 226 | 1,742 | 84,750 | -26,890 | -63,775 |
Comprehensive income (loss) attributable to Westmoreland Coal Company | -18,804 | -2,345 | 76,623 | -40,552 | -100,650 |
Scenario, Previously Reported [Member] | Co-Issuer [Member] | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' |
Net income (loss) | 1,703 | -1,004 | 4,215 | 8,113 | 5,089 |
Other comprehensive income (loss) | ' | ' | ' | ' | ' |
Amortization of accumulated actuarial gains or losses, pension | 2 | 6 | 28 | 23 | 9 |
Adjustments to accumulated actuarial losses and transition obligations, pension | ' | ' | 180 | -52 | -150 |
Amortization of accumulated actuarial gains or losses, transition obligations, and prior service costs, postretirement medical benefit | 0 | 0 | 0 | 0 | 0 |
Adjustments to accumulated actuarial gains and transition obligations, postretirement medical benefits | ' | ' | 0 | 0 | 0 |
Tax effect of other comprehensive income gains | 0 | ' | 0 | ' | ' |
Unrealized and realized gains and losses on available-for-sale securities | ' | ' | 0 | 0 | 0 |
Other comprehensive loss | 2 | 6 | 208 | -29 | -141 |
Comprehensive income (loss) attributable to Westmoreland Coal Company | 1,705 | -998 | 4,423 | 8,084 | 4,948 |
Scenario, Previously Reported [Member] | Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' |
Net income (loss) | 5,803 | 6,876 | 16,079 | 37,771 | 3,463 |
Other comprehensive income (loss) | ' | ' | ' | ' | ' |
Amortization of accumulated actuarial gains or losses, pension | 0 | 0 | 0 | 0 | 0 |
Adjustments to accumulated actuarial losses and transition obligations, pension | ' | ' | 10,554 | -3,034 | 0 |
Amortization of accumulated actuarial gains or losses, transition obligations, and prior service costs, postretirement medical benefit | -119 | 0 | 0 | 0 | 0 |
Adjustments to accumulated actuarial gains and transition obligations, postretirement medical benefits | ' | ' | 11,941 | -1,969 | 0 |
Tax effect of other comprehensive income gains | 0 | ' | 0 | ' | ' |
Unrealized and realized gains and losses on available-for-sale securities | ' | ' | -17 | 1 | -103 |
Other comprehensive loss | -119 | 0 | 22,478 | -5,002 | -103 |
Comprehensive income (loss) attributable to Westmoreland Coal Company | 5,684 | 6,876 | 38,557 | 32,769 | 3,360 |
Scenario, Previously Reported [Member] | Non-Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' |
Net income (loss) | 726 | 1,141 | 13,072 | -4,541 | 5,073 |
Other comprehensive income (loss) | ' | ' | ' | ' | ' |
Amortization of accumulated actuarial gains or losses, pension | 128 | 193 | 863 | 766 | 702 |
Adjustments to accumulated actuarial losses and transition obligations, pension | ' | ' | 3,252 | -2,132 | -444 |
Amortization of accumulated actuarial gains or losses, transition obligations, and prior service costs, postretirement medical benefit | 88 | 213 | 852 | 973 | 295 |
Adjustments to accumulated actuarial gains and transition obligations, postretirement medical benefits | ' | ' | 5,411 | -865 | -9,269 |
Tax effect of other comprehensive income gains | 0 | ' | 0 | ' | ' |
Unrealized and realized gains and losses on available-for-sale securities | ' | ' | -38 | -65 | -100 |
Other comprehensive loss | 216 | 406 | 10,340 | -1,323 | -8,816 |
Comprehensive income (loss) attributable to Westmoreland Coal Company | 942 | 1,547 | 23,412 | -5,864 | -3,743 |
Scenario, Previously Reported [Member] | Consolidating Adjustments [Member] | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' |
Net income (loss) | -8,232 | -7,013 | -33,366 | -41,343 | -13,625 |
Other comprehensive income (loss) | ' | ' | ' | ' | ' |
Amortization of accumulated actuarial gains or losses, pension | -130 | -199 | -891 | -789 | -711 |
Adjustments to accumulated actuarial losses and transition obligations, pension | ' | ' | -13,986 | 5,218 | 594 |
Amortization of accumulated actuarial gains or losses, transition obligations, and prior service costs, postretirement medical benefit | 31 | -213 | -852 | -973 | -295 |
Adjustments to accumulated actuarial gains and transition obligations, postretirement medical benefits | ' | ' | -17,352 | 2,834 | 9,269 |
Tax effect of other comprehensive income gains | 0 | ' | 0 | ' | ' |
Unrealized and realized gains and losses on available-for-sale securities | ' | ' | 55 | 64 | 203 |
Other comprehensive loss | -99 | -412 | -33,026 | 6,354 | 9,060 |
Comprehensive income (loss) attributable to Westmoreland Coal Company | ($8,331) | ($7,425) | ($66,392) | ($34,989) | ($4,565) |
SUPPLEMENTAL_CONSOLIDATING_FIN5
SUPPLEMENTAL CONSOLIDATING FINANCIAL INFORMATION - Supplemental Consolidating Statement of Cash Flow Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Cash flows from operating activities: | ' | ' | ' | ' | ' |
Net income (loss) | ($19,030) | ($4,087) | ($8,127) | ($13,662) | ($36,875) |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ' | ' | ' | ' | ' |
Equity in income of subsidiaries | 0 | 0 | 0 | 0 | 0 |
Loss on derivative instruments | ' | ' | 0 | 0 | 3,079 |
Depreciation, depletion, and amortization | 16,059 | 14,426 | 67,231 | 57,145 | 45,594 |
Accretion of asset retirement obligation and receivable | 3,479 | 3,180 | 12,681 | 12,189 | 10,878 |
Amortization of intangible assets and liabilities, net | 153 | 164 | 665 | 658 | 657 |
Non-cash tax benefits | -138 | 0 | -4,892 | 0 | 0 |
Share-based compensation | 728 | 2,386 | 5,322 | 6,040 | 4,721 |
Loss (gain) on sales of assets | 38 | -234 | -74 | 528 | 640 |
Amortization of deferred financing costs | 271 | 933 | 3,731 | 4,358 | 2,515 |
Other | ' | ' | -1,001 | 0 | 0 |
Loss on extinguishment of debt | ' | ' | 64 | 1,986 | 17,030 |
Gain on sales of investment securities | 0 | 7 | -3 | -165 | -150 |
Changes in operating assets and liabilities: | ' | ' | ' | ' | ' |
Receivables, net | 5,202 | 120 | -7,636 | -12,855 | 5,491 |
Inventories | 4,525 | -2,687 | -2,512 | -2,164 | -2,125 |
Excess of black lung benefit obligation over trust assets | 701 | 83 | 319 | 1,791 | 4,319 |
Accounts payable and accrued expenses | 10,959 | 3,245 | 13,579 | 17,399 | 4,128 |
Deferred revenue | -1,302 | 160 | -9,078 | -8,198 | -9,918 |
Income tax payable | 28 | 27 | -1 | 0 | 0 |
Accrual for workers' compensation | -69 | -191 | -2,069 | -2,096 | 1,248 |
Asset retirement obligations | -1,352 | -3,207 | -9,410 | -6,943 | -6,510 |
Accrual for postretirement medical benefits | 906 | 1,985 | 7,721 | 6,191 | -1,643 |
Pension and SERP obligations | -293 | 742 | 2,388 | 2,802 | -1,278 |
Other assets and liabilities | 1,993 | 4,164 | 11,819 | -7,860 | 2,934 |
Net cash provided by (used in) operating activities | 29,648 | 21,216 | 80,717 | 57,144 | 44,735 |
Cash flows from investing activities: | ' | ' | ' | ' | ' |
Distributions received by subsidiaries | 0 | 0 | 0 | 0 | 0 |
Additions to property, plant and equipment | -3,050 | -5,301 | -28,591 | -21,032 | -27,594 |
Change in restricted investments and bond collateral and reclamation deposits | -465,544 | -6,435 | 1,434 | -33,892 | -5,986 |
Cash payments related to acquisitions | ' | ' | 0 | -72,522 | -4,000 |
Net proceeds from sales of assets | 0 | 441 | 902 | 480 | 687 |
Proceeds from sale of restricted investments | 0 | 5,619 | 8,287 | 4,106 | 3,350 |
Receivable from customer for property and equipment purchases | -10 | -49 | -389 | -674 | -96 |
Other | -60 | 0 | -3,540 | 0 | 0 |
Net cash provided by (used in) investing activities | -468,664 | -5,725 | -21,897 | -123,534 | -33,639 |
Cash flows from financing activities: | ' | ' | ' | ' | ' |
Change in book overdrafts | -315 | 820 | 310 | -253 | -724 |
Borrowings from long-term debt | 454,219 | 0 | 0 | 119,364 | 142,500 |
Repayments of long-term debt | -6,239 | -6,573 | -28,088 | -44,846 | -73,566 |
Borrowings on revolving lines of credit | 0 | 6,000 | 7,000 | 16,500 | 87,200 |
Repayments on revolving lines of credit | 0 | -6,000 | -7,000 | -16,500 | -105,600 |
Debt issuance and other refinancing costs | -7,598 | -156 | -182 | -5,688 | -15,019 |
Exercise of stock options | ' | ' | 0 | 0 | 422 |
Dividends/distributions | -261 | -340 | -1,360 | -1,360 | -21,301 |
Transactions with Parent/affiliates | 0 | 0 | 0 | 0 | 0 |
Net cash provided by (used in) financing activities | 439,806 | -6,249 | -29,320 | 67,217 | 13,912 |
Net increase (decrease) in cash and cash equivalents | 790 | 9,242 | 29,500 | 827 | 25,008 |
Cash and cash equivalents, beginning of year | 61,110 | 31,610 | 31,610 | 30,783 | 5,775 |
Cash and cash equivalents, end of year | 61,900 | 40,852 | 61,110 | 31,610 | 30,783 |
Parent Company [Member] | ' | ' | ' | ' | ' |
Cash flows from operating activities: | ' | ' | ' | ' | ' |
Net income (loss) | -19,030 | -4,087 | -8,127 | -13,662 | -36,875 |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ' | ' | ' | ' | ' |
Equity in income of subsidiaries | ' | ' | -47,514 | -49,834 | -21,128 |
Loss on derivative instruments | ' | ' | ' | ' | 3,079 |
Depreciation, depletion, and amortization | ' | ' | 357 | 421 | 306 |
Accretion of asset retirement obligation and receivable | ' | ' | 0 | 0 | 0 |
Amortization of intangible assets and liabilities, net | ' | ' | 0 | 0 | 0 |
Non-cash tax benefits | ' | ' | -4,892 | ' | ' |
Share-based compensation | ' | ' | 2,887 | 3,054 | 1,670 |
Loss (gain) on sales of assets | ' | ' | 0 | 13 | 3 |
Amortization of deferred financing costs | ' | ' | 3,165 | 2,889 | 1,485 |
Other | ' | ' | 0 | ' | ' |
Loss on extinguishment of debt | ' | ' | 64 | 1,986 | 7,873 |
Gain on sales of investment securities | ' | ' | 0 | -190 | 0 |
Changes in operating assets and liabilities: | ' | ' | ' | ' | ' |
Receivables, net | ' | ' | -936 | -280 | -270 |
Inventories | ' | ' | 0 | 0 | 0 |
Excess of black lung benefit obligation over trust assets | ' | ' | 319 | 1,791 | 4,319 |
Accounts payable and accrued expenses | ' | ' | 1,753 | 4,792 | 5,944 |
Deferred revenue | ' | ' | 0 | 0 | 0 |
Income tax payable | ' | ' | 0 | ' | ' |
Accrual for workers' compensation | ' | ' | -2,069 | -2,096 | 1,248 |
Asset retirement obligations | ' | ' | 0 | 0 | 0 |
Accrual for postretirement medical benefits | ' | ' | 101 | -524 | -2,879 |
Pension and SERP obligations | ' | ' | 1,391 | 1,286 | -3,741 |
Other assets and liabilities | ' | ' | -170 | -247 | 444 |
Net cash provided by (used in) operating activities | 22,764 | -1,885 | 24,329 | -18,630 | -15,122 |
Cash flows from investing activities: | ' | ' | ' | ' | ' |
Distributions received by subsidiaries | ' | ' | 78,000 | 31,971 | 23,400 |
Additions to property, plant and equipment | ' | ' | -771 | -159 | -797 |
Change in restricted investments and bond collateral and reclamation deposits | ' | ' | 49 | -3,248 | -1,713 |
Cash payments related to acquisitions | ' | ' | ' | 4,000 | -4,000 |
Net proceeds from sales of assets | ' | ' | 0 | 0 | 0 |
Proceeds from sale of restricted investments | ' | ' | 0 | 1,581 | 0 |
Receivable from customer for property and equipment purchases | ' | ' | 0 | 0 | 0 |
Other | ' | ' | 0 | ' | ' |
Net cash provided by (used in) investing activities | -471,113 | -581 | -722 | 2,174 | -6,510 |
Cash flows from financing activities: | ' | ' | ' | ' | ' |
Change in book overdrafts | ' | ' | 0 | 0 | -146 |
Borrowings from long-term debt | ' | ' | ' | 119,364 | 142,500 |
Repayments of long-term debt | ' | ' | -500 | -23,000 | -2,532 |
Borrowings on revolving lines of credit | ' | ' | 0 | 0 | 0 |
Repayments on revolving lines of credit | ' | ' | 0 | 0 | 0 |
Debt issuance and other refinancing costs | ' | ' | -26 | -5,666 | -6,042 |
Exercise of stock options | ' | ' | ' | ' | 422 |
Dividends/distributions | ' | ' | -1,360 | -1,360 | -21,301 |
Transactions with Parent/affiliates | ' | ' | -11,231 | -84,186 | -65,400 |
Net cash provided by (used in) financing activities | 451,782 | -1,399 | -13,117 | 5,152 | 47,501 |
Net increase (decrease) in cash and cash equivalents | 3,433 | -3,865 | 10,490 | -11,304 | 25,869 |
Cash and cash equivalents, beginning of year | 25,326 | 14,836 | 14,836 | 26,140 | 271 |
Cash and cash equivalents, end of year | 28,759 | 10,971 | 25,326 | 14,836 | 26,140 |
Co-Issuer [Member] | ' | ' | ' | ' | ' |
Cash flows from operating activities: | ' | ' | ' | ' | ' |
Net income (loss) | 1,703 | -1,004 | 4,215 | 8,113 | 5,089 |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ' | ' | ' | ' | ' |
Equity in income of subsidiaries | ' | ' | 0 | 0 | 0 |
Loss on derivative instruments | ' | ' | ' | ' | 0 |
Depreciation, depletion, and amortization | ' | ' | 10,178 | 10,085 | 10,175 |
Accretion of asset retirement obligation and receivable | ' | ' | 63 | 59 | 55 |
Amortization of intangible assets and liabilities, net | ' | ' | 622 | 622 | 621 |
Non-cash tax benefits | ' | ' | 0 | ' | ' |
Share-based compensation | ' | ' | 37 | 44 | 32 |
Loss (gain) on sales of assets | ' | ' | 0 | 0 | 189 |
Amortization of deferred financing costs | ' | ' | 0 | 0 | -21 |
Other | ' | ' | 0 | ' | ' |
Loss on extinguishment of debt | ' | ' | 0 | 0 | 9,073 |
Gain on sales of investment securities | ' | ' | 0 | 0 | 0 |
Changes in operating assets and liabilities: | ' | ' | ' | ' | ' |
Receivables, net | ' | ' | -126 | -151 | 1,479 |
Inventories | ' | ' | -3,114 | 709 | -1,820 |
Excess of black lung benefit obligation over trust assets | ' | ' | 0 | 0 | 0 |
Accounts payable and accrued expenses | ' | ' | 5,141 | -3,208 | -1,063 |
Deferred revenue | ' | ' | -8,706 | -8,312 | -8,774 |
Income tax payable | ' | ' | 0 | ' | ' |
Accrual for workers' compensation | ' | ' | 0 | 0 | 0 |
Asset retirement obligations | ' | ' | 0 | 0 | 0 |
Accrual for postretirement medical benefits | ' | ' | 0 | 0 | 0 |
Pension and SERP obligations | ' | ' | 18 | 15 | -50 |
Other assets and liabilities | ' | ' | 4,983 | -536 | -530 |
Net cash provided by (used in) operating activities | 3,085 | 6,914 | 13,311 | 7,440 | 14,455 |
Cash flows from investing activities: | ' | ' | ' | ' | ' |
Distributions received by subsidiaries | ' | ' | 0 | 0 | 0 |
Additions to property, plant and equipment | ' | ' | -790 | -2,067 | -2,119 |
Change in restricted investments and bond collateral and reclamation deposits | ' | ' | -8 | -7 | 2,580 |
Cash payments related to acquisitions | ' | ' | ' | 0 | 0 |
Net proceeds from sales of assets | ' | ' | 0 | 0 | 0 |
Proceeds from sale of restricted investments | ' | ' | 0 | 0 | 0 |
Receivable from customer for property and equipment purchases | ' | ' | 0 | 0 | 0 |
Other | ' | ' | 0 | ' | ' |
Net cash provided by (used in) investing activities | 5,963 | -137 | -798 | -2,074 | 461 |
Cash flows from financing activities: | ' | ' | ' | ' | ' |
Change in book overdrafts | ' | ' | 0 | -259 | 259 |
Borrowings from long-term debt | ' | ' | ' | 0 | 0 |
Repayments of long-term debt | ' | ' | 0 | 0 | -46,220 |
Borrowings on revolving lines of credit | ' | ' | 0 | 0 | 1,500 |
Repayments on revolving lines of credit | ' | ' | 0 | 0 | -1,500 |
Debt issuance and other refinancing costs | ' | ' | 0 | 0 | -9,077 |
Exercise of stock options | ' | ' | ' | ' | 0 |
Dividends/distributions | ' | ' | -14,500 | -1,050 | -10,700 |
Transactions with Parent/affiliates | ' | ' | 783 | 482 | 49,948 |
Net cash provided by (used in) financing activities | -8,346 | -6,515 | -13,717 | -827 | -15,790 |
Net increase (decrease) in cash and cash equivalents | 702 | 262 | -1,204 | 4,539 | -874 |
Cash and cash equivalents, beginning of year | 3,341 | 4,545 | 4,545 | 6 | 880 |
Cash and cash equivalents, end of year | 4,043 | 4,807 | 3,341 | 4,545 | 6 |
Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ' |
Cash flows from operating activities: | ' | ' | ' | ' | ' |
Net income (loss) | 7,409 | 10,126 | 36,310 | 44,805 | 15,186 |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ' | ' | ' | ' | ' |
Equity in income of subsidiaries | ' | ' | 0 | 0 | 0 |
Loss on derivative instruments | ' | ' | ' | ' | 0 |
Depreciation, depletion, and amortization | ' | ' | 56,696 | 46,639 | 35,113 |
Accretion of asset retirement obligation and receivable | ' | ' | 12,618 | 12,130 | 10,823 |
Amortization of intangible assets and liabilities, net | ' | ' | 43 | 36 | 36 |
Non-cash tax benefits | ' | ' | 0 | ' | ' |
Share-based compensation | ' | ' | 2,398 | 2,942 | 3,019 |
Loss (gain) on sales of assets | ' | ' | -74 | 515 | 448 |
Amortization of deferred financing costs | ' | ' | 566 | 1,469 | 1,051 |
Other | ' | ' | -1,001 | ' | ' |
Loss on extinguishment of debt | ' | ' | 0 | 0 | 84 |
Gain on sales of investment securities | ' | ' | -3 | 25 | -150 |
Changes in operating assets and liabilities: | ' | ' | ' | ' | ' |
Receivables, net | ' | ' | 10,945 | -22,246 | 1,367 |
Inventories | ' | ' | 602 | -2,873 | -305 |
Excess of black lung benefit obligation over trust assets | ' | ' | 0 | 0 | 0 |
Accounts payable and accrued expenses | ' | ' | 4,545 | 18,551 | -940 |
Deferred revenue | ' | ' | -372 | 114 | -1,144 |
Income tax payable | ' | ' | -1 | ' | ' |
Accrual for workers' compensation | ' | ' | 0 | 0 | 0 |
Asset retirement obligations | ' | ' | -9,410 | -6,943 | -6,510 |
Accrual for postretirement medical benefits | ' | ' | 7,300 | 6,828 | 1,132 |
Pension and SERP obligations | ' | ' | 941 | 1,602 | 2,520 |
Other assets and liabilities | ' | ' | 13,383 | -7,185 | 3,405 |
Net cash provided by (used in) operating activities | 33,855 | 32,695 | 135,486 | 96,409 | 65,135 |
Cash flows from investing activities: | ' | ' | ' | ' | ' |
Distributions received by subsidiaries | ' | ' | 0 | 0 | 0 |
Additions to property, plant and equipment | ' | ' | -27,030 | -18,806 | -24,678 |
Change in restricted investments and bond collateral and reclamation deposits | ' | ' | 1,393 | -30,637 | -6,853 |
Cash payments related to acquisitions | ' | ' | ' | -76,522 | 0 |
Net proceeds from sales of assets | ' | ' | 902 | 480 | 687 |
Proceeds from sale of restricted investments | ' | ' | 8,287 | 2,525 | 3,350 |
Receivable from customer for property and equipment purchases | ' | ' | -389 | -674 | -96 |
Other | ' | ' | -3,540 | ' | ' |
Net cash provided by (used in) investing activities | -3,514 | -5,010 | -20,377 | -123,634 | -27,590 |
Cash flows from financing activities: | ' | ' | ' | ' | ' |
Change in book overdrafts | ' | ' | 310 | 6 | -837 |
Borrowings from long-term debt | ' | ' | ' | 0 | 0 |
Repayments of long-term debt | ' | ' | -27,588 | -21,846 | -24,814 |
Borrowings on revolving lines of credit | ' | ' | 7,000 | 16,500 | 85,700 |
Repayments on revolving lines of credit | ' | ' | -7,000 | -16,500 | -104,100 |
Debt issuance and other refinancing costs | ' | ' | -156 | -22 | 100 |
Exercise of stock options | ' | ' | ' | ' | 0 |
Dividends/distributions | ' | ' | -63,500 | -30,921 | -11,700 |
Transactions with Parent/affiliates | ' | ' | -6,960 | 86,863 | 21,135 |
Net cash provided by (used in) financing activities | -30,525 | -14,789 | -97,894 | 34,080 | -34,516 |
Net increase (decrease) in cash and cash equivalents | -184 | 12,896 | 17,215 | 6,855 | 3,029 |
Cash and cash equivalents, beginning of year | 27,451 | 10,236 | 10,236 | 3,381 | 352 |
Cash and cash equivalents, end of year | 27,267 | 23,132 | 27,451 | 10,236 | 3,381 |
Non-Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ' |
Cash flows from operating activities: | ' | ' | ' | ' | ' |
Net income (loss) | 116 | -1,612 | -1,992 | -7,503 | -4,029 |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ' | ' | ' | ' | ' |
Equity in income of subsidiaries | ' | ' | 0 | 0 | 0 |
Loss on derivative instruments | ' | ' | ' | ' | 0 |
Depreciation, depletion, and amortization | ' | ' | 0 | 0 | 0 |
Accretion of asset retirement obligation and receivable | ' | ' | 0 | 0 | 0 |
Amortization of intangible assets and liabilities, net | ' | ' | 0 | 0 | 0 |
Non-cash tax benefits | ' | ' | 0 | ' | ' |
Share-based compensation | ' | ' | 0 | 0 | 0 |
Loss (gain) on sales of assets | ' | ' | 0 | 0 | 0 |
Amortization of deferred financing costs | ' | ' | 0 | 0 | 0 |
Other | ' | ' | 0 | ' | ' |
Loss on extinguishment of debt | ' | ' | 0 | 0 | 0 |
Gain on sales of investment securities | ' | ' | 0 | 0 | 0 |
Changes in operating assets and liabilities: | ' | ' | ' | ' | ' |
Receivables, net | ' | ' | -4,225 | 1,865 | -3,334 |
Inventories | ' | ' | 0 | 0 | 0 |
Excess of black lung benefit obligation over trust assets | ' | ' | 0 | 0 | 0 |
Accounts payable and accrued expenses | ' | ' | -12,683 | 5,488 | 4,326 |
Deferred revenue | ' | ' | 0 | 0 | 0 |
Income tax payable | ' | ' | 0 | ' | ' |
Accrual for workers' compensation | ' | ' | 0 | 0 | 0 |
Asset retirement obligations | ' | ' | 0 | 0 | 0 |
Accrual for postretirement medical benefits | ' | ' | 320 | -113 | 104 |
Pension and SERP obligations | ' | ' | 38 | -101 | -7 |
Other assets and liabilities | ' | ' | -1,025 | -1,892 | 42 |
Net cash provided by (used in) operating activities | -1,152 | -1,727 | -19,567 | -2,256 | -2,898 |
Cash flows from investing activities: | ' | ' | ' | ' | ' |
Distributions received by subsidiaries | ' | ' | 0 | 0 | 0 |
Additions to property, plant and equipment | ' | ' | 0 | 0 | 0 |
Change in restricted investments and bond collateral and reclamation deposits | ' | ' | 0 | 0 | 0 |
Cash payments related to acquisitions | ' | ' | ' | 0 | 0 |
Net proceeds from sales of assets | ' | ' | 0 | 0 | 0 |
Proceeds from sale of restricted investments | ' | ' | 0 | 0 | 0 |
Receivable from customer for property and equipment purchases | ' | ' | 0 | 0 | 0 |
Other | ' | ' | 0 | ' | ' |
Net cash provided by (used in) investing activities | 0 | 3 | 0 | 0 | 0 |
Cash flows from financing activities: | ' | ' | ' | ' | ' |
Change in book overdrafts | ' | ' | 0 | 0 | 0 |
Borrowings from long-term debt | ' | ' | ' | 0 | 0 |
Repayments of long-term debt | ' | ' | 0 | 0 | 0 |
Borrowings on revolving lines of credit | ' | ' | 0 | 0 | 0 |
Repayments on revolving lines of credit | ' | ' | 0 | 0 | 0 |
Debt issuance and other refinancing costs | ' | ' | 0 | 0 | 0 |
Exercise of stock options | ' | ' | ' | ' | 0 |
Dividends/distributions | ' | ' | 0 | 0 | -1,000 |
Transactions with Parent/affiliates | ' | ' | 22,566 | 2,993 | 882 |
Net cash provided by (used in) financing activities | -2,009 | 1,673 | 22,566 | 2,993 | -118 |
Net increase (decrease) in cash and cash equivalents | -3,161 | -51 | 2,999 | 737 | -3,016 |
Cash and cash equivalents, beginning of year | 4,992 | 1,993 | 1,993 | 1,256 | 4,272 |
Cash and cash equivalents, end of year | 1,831 | 1,942 | 4,992 | 1,993 | 1,256 |
Consolidating Adjustments [Member] | ' | ' | ' | ' | ' |
Cash flows from operating activities: | ' | ' | ' | ' | ' |
Net income (loss) | -9,228 | -7,510 | -38,533 | -45,415 | -16,246 |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ' | ' | ' | ' | ' |
Equity in income of subsidiaries | ' | ' | 47,514 | 49,834 | 21,128 |
Loss on derivative instruments | ' | ' | ' | ' | 0 |
Depreciation, depletion, and amortization | ' | ' | 0 | 0 | 0 |
Accretion of asset retirement obligation and receivable | ' | ' | 0 | 0 | 0 |
Amortization of intangible assets and liabilities, net | ' | ' | 0 | 0 | 0 |
Non-cash tax benefits | ' | ' | 0 | ' | ' |
Share-based compensation | ' | ' | 0 | 0 | 0 |
Loss (gain) on sales of assets | ' | ' | 0 | 0 | 0 |
Amortization of deferred financing costs | ' | ' | 0 | 0 | 0 |
Other | ' | ' | 0 | ' | ' |
Loss on extinguishment of debt | ' | ' | 0 | 0 | 0 |
Gain on sales of investment securities | ' | ' | 0 | 0 | 0 |
Changes in operating assets and liabilities: | ' | ' | ' | ' | ' |
Receivables, net | ' | ' | -13,294 | 7,957 | 6,249 |
Inventories | ' | ' | 0 | 0 | 0 |
Excess of black lung benefit obligation over trust assets | ' | ' | 0 | 0 | 0 |
Accounts payable and accrued expenses | ' | ' | 14,823 | -8,224 | -4,139 |
Deferred revenue | ' | ' | 0 | 0 | 0 |
Income tax payable | ' | ' | 0 | ' | ' |
Accrual for workers' compensation | ' | ' | 0 | 0 | 0 |
Asset retirement obligations | ' | ' | 0 | 0 | 0 |
Accrual for postretirement medical benefits | ' | ' | 0 | 0 | 0 |
Pension and SERP obligations | ' | ' | 0 | 0 | 0 |
Other assets and liabilities | ' | ' | -5,352 | 2,000 | -427 |
Net cash provided by (used in) operating activities | -28,904 | -14,781 | -72,842 | -25,819 | -16,835 |
Cash flows from investing activities: | ' | ' | ' | ' | ' |
Distributions received by subsidiaries | ' | ' | -78,000 | -31,971 | -23,400 |
Additions to property, plant and equipment | ' | ' | 0 | 0 | 0 |
Change in restricted investments and bond collateral and reclamation deposits | ' | ' | 0 | 0 | 0 |
Cash payments related to acquisitions | ' | ' | ' | 0 | 0 |
Net proceeds from sales of assets | ' | ' | 0 | 0 | 0 |
Proceeds from sale of restricted investments | ' | ' | 0 | 0 | 0 |
Receivable from customer for property and equipment purchases | ' | ' | 0 | 0 | 0 |
Other | ' | ' | 0 | ' | ' |
Net cash provided by (used in) investing activities | 0 | 0 | 0 | 0 | 0 |
Cash flows from financing activities: | ' | ' | ' | ' | ' |
Change in book overdrafts | ' | ' | 0 | 0 | 0 |
Borrowings from long-term debt | ' | ' | ' | 0 | 0 |
Repayments of long-term debt | ' | ' | 0 | 0 | 0 |
Borrowings on revolving lines of credit | ' | ' | 0 | 0 | 0 |
Repayments on revolving lines of credit | ' | ' | 0 | 0 | 0 |
Debt issuance and other refinancing costs | ' | ' | 0 | 0 | 0 |
Exercise of stock options | ' | ' | ' | ' | 0 |
Dividends/distributions | ' | ' | 78,000 | 31,971 | 23,400 |
Transactions with Parent/affiliates | ' | ' | -5,158 | -6,152 | -6,565 |
Net cash provided by (used in) financing activities | 28,904 | 14,781 | 72,842 | 25,819 | 16,835 |
Net increase (decrease) in cash and cash equivalents | 0 | 0 | 0 | 0 | 0 |
Cash and cash equivalents, beginning of year | 0 | 0 | 0 | 0 | 0 |
Cash and cash equivalents, end of year | 0 | 0 | 0 | 0 | 0 |
Scenario, Previously Reported [Member] | ' | ' | ' | ' | ' |
Cash flows from operating activities: | ' | ' | ' | ' | ' |
Net income (loss) | -19,030 | -4,087 | -8,127 | -13,662 | -36,875 |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ' | ' | ' | ' | ' |
Equity in income of subsidiaries | 0 | 0 | 0 | 0 | 0 |
Loss on derivative instruments | ' | ' | ' | ' | 3,079 |
Depreciation, depletion, and amortization | 16,059 | 14,426 | 67,231 | 57,145 | 45,594 |
Accretion of asset retirement obligation and receivable | 3,479 | 3,180 | 12,681 | 12,189 | 10,878 |
Amortization of intangible assets and liabilities, net | 153 | 164 | 665 | 658 | 657 |
Non-cash tax benefits | -138 | ' | -4,892 | ' | ' |
Share-based compensation | 728 | 2,386 | 5,322 | 6,040 | 4,721 |
Loss (gain) on sales of assets | 38 | -234 | -74 | 528 | 640 |
Amortization of deferred financing costs | 271 | 933 | 3,731 | 4,358 | 2,515 |
Other | ' | ' | -1,001 | ' | ' |
Loss on extinguishment of debt | ' | ' | 64 | 1,986 | 17,030 |
Gain on sales of investment securities | ' | 7 | -3 | -165 | -150 |
Changes in operating assets and liabilities: | ' | ' | ' | ' | ' |
Receivables, net | 5,202 | 120 | -7,636 | -12,855 | 5,491 |
Inventories | 4,525 | -2,687 | -2,512 | -2,164 | -2,125 |
Excess of black lung benefit obligation over trust assets | 701 | 83 | 319 | 1,791 | 4,319 |
Accounts payable and accrued expenses | 10,959 | 3,245 | 13,579 | 17,399 | 4,128 |
Deferred revenue | -1,302 | 160 | -9,078 | -8,198 | -9,918 |
Income tax payable | 28 | 27 | -1 | ' | ' |
Accrual for workers' compensation | -69 | -191 | -2,069 | -2,096 | 1,248 |
Asset retirement obligations | -1,352 | -3,207 | -9,410 | -6,943 | -6,510 |
Accrual for postretirement medical benefits | 906 | 1,985 | 7,721 | 6,191 | -1,643 |
Pension and SERP obligations | -293 | 742 | 2,388 | 2,802 | -1,278 |
Other assets and liabilities | 1,993 | 4,164 | 11,819 | -7,860 | 2,934 |
Net cash provided by (used in) operating activities | 29,648 | 21,216 | 80,717 | 57,144 | 44,735 |
Cash flows from investing activities: | ' | ' | ' | ' | ' |
Distributions received by subsidiaries | 0 | 0 | 0 | 0 | 0 |
Additions to property, plant and equipment | -3,050 | -5,301 | -28,591 | -21,032 | -27,594 |
Change in restricted investments and bond collateral and reclamation deposits | -465,544 | -6,435 | 1,434 | -33,892 | -5,986 |
Cash payments related to acquisitions | ' | ' | ' | -72,522 | -4,000 |
Net proceeds from sales of assets | ' | 441 | 902 | 480 | 687 |
Proceeds from sale of restricted investments | ' | 5,619 | 8,287 | 4,106 | 3,350 |
Receivable from customer for property and equipment purchases | -10 | -49 | -389 | -674 | -96 |
Other | -60 | ' | -3,540 | ' | ' |
Net cash provided by (used in) investing activities | -468,664 | -5,725 | -21,897 | -123,534 | -33,639 |
Cash flows from financing activities: | ' | ' | ' | ' | ' |
Change in book overdrafts | -315 | 820 | 310 | -253 | -724 |
Borrowings from long-term debt | 454,219 | ' | ' | 119,364 | 142,500 |
Repayments of long-term debt | -6,239 | -6,573 | -28,088 | -44,846 | -73,566 |
Borrowings on revolving lines of credit | ' | 6,000 | 7,000 | 16,500 | 87,200 |
Repayments on revolving lines of credit | ' | -6,000 | -7,000 | -16,500 | -105,600 |
Debt issuance and other refinancing costs | -7,598 | -156 | -182 | -5,688 | -15,019 |
Exercise of stock options | ' | ' | ' | ' | 422 |
Dividends/distributions | -261 | -340 | -1,360 | -1,360 | -21,301 |
Transactions with Parent/affiliates | 0 | 0 | 0 | 0 | 0 |
Net cash provided by (used in) financing activities | 439,806 | -6,249 | -29,320 | 67,217 | 13,912 |
Net increase (decrease) in cash and cash equivalents | 790 | 9,242 | 29,500 | 827 | 25,008 |
Cash and cash equivalents, beginning of year | 61,110 | 31,610 | 31,610 | 30,783 | 5,775 |
Cash and cash equivalents, end of year | 61,900 | 40,852 | 61,110 | 31,610 | 30,783 |
Scenario, Previously Reported [Member] | Parent Company [Member] | ' | ' | ' | ' | ' |
Cash flows from operating activities: | ' | ' | ' | ' | ' |
Net income (loss) | -19,030 | -4,087 | -8,127 | -13,662 | -36,875 |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ' | ' | ' | ' | ' |
Equity in income of subsidiaries | -13,319 | -10,304 | -42,347 | -45,762 | -18,508 |
Loss on derivative instruments | ' | ' | ' | ' | 3,079 |
Depreciation, depletion, and amortization | 76 | 94 | 354 | 421 | 306 |
Accretion of asset retirement obligation and receivable | 0 | 0 | 0 | 0 | 0 |
Amortization of intangible assets and liabilities, net | 0 | 0 | 0 | 0 | 0 |
Non-cash tax benefits | -138 | ' | -4,892 | ' | ' |
Share-based compensation | 569 | 682 | 2,437 | 2,716 | 1,671 |
Loss (gain) on sales of assets | 0 | 0 | 0 | 13 | 3 |
Amortization of deferred financing costs | 149 | 771 | 3,165 | 2,889 | 1,485 |
Other | ' | ' | 0 | ' | ' |
Loss on extinguishment of debt | ' | ' | 64 | 1,986 | 7,873 |
Gain on sales of investment securities | ' | 0 | 0 | -190 | 0 |
Changes in operating assets and liabilities: | ' | ' | ' | ' | ' |
Receivables, net | -178 | 49 | -18 | 147 | -158 |
Inventories | 0 | 0 | 0 | 0 | 0 |
Excess of black lung benefit obligation over trust assets | 701 | 83 | 319 | 1,791 | 4,319 |
Accounts payable and accrued expenses | 5,670 | -8,202 | -613 | 4,981 | 5,849 |
Deferred revenue | 0 | 0 | 0 | 0 | 0 |
Income tax payable | 0 | 0 | 0 | ' | ' |
Accrual for workers' compensation | -69 | -191 | -2,069 | -2,096 | 1,248 |
Asset retirement obligations | 0 | 0 | 0 | 0 | 0 |
Accrual for postretirement medical benefits | -374 | -100 | 101 | -524 | -2,878 |
Pension and SERP obligations | 83 | 320 | 1,391 | 1,286 | -4,320 |
Other assets and liabilities | -183 | -187 | -144 | -243 | 444 |
Net cash provided by (used in) operating activities | 23,247 | -1,472 | 27,621 | -14,276 | -13,062 |
Cash flows from investing activities: | ' | ' | ' | ' | ' |
Distributions received by subsidiaries | 42,500 | 19,600 | 78,000 | 31,971 | 23,400 |
Additions to property, plant and equipment | 38 | -157 | -737 | -159 | -797 |
Change in restricted investments and bond collateral and reclamation deposits | -471,151 | -398 | 49 | -3,248 | -1,714 |
Cash payments related to acquisitions | ' | ' | ' | 4,000 | -4,000 |
Net proceeds from sales of assets | ' | 0 | 0 | 0 | 0 |
Proceeds from sale of restricted investments | ' | 0 | 0 | 1,581 | 0 |
Receivable from customer for property and equipment purchases | 0 | 0 | 0 | 0 | 0 |
Other | 0 | ' | 0 | ' | ' |
Net cash provided by (used in) investing activities | -471,113 | -555 | -688 | 2,174 | -6,511 |
Cash flows from financing activities: | ' | ' | ' | ' | ' |
Change in book overdrafts | 0 | 0 | 0 | 0 | -146 |
Borrowings from long-term debt | 454,219 | ' | ' | 119,364 | 142,500 |
Repayments of long-term debt | 0 | 0 | -500 | -23,000 | -2,532 |
Borrowings on revolving lines of credit | ' | 0 | 0 | 0 | 0 |
Repayments on revolving lines of credit | ' | 0 | 0 | 0 | 0 |
Debt issuance and other refinancing costs | -7,598 | 0 | -26 | -5,666 | -6,042 |
Exercise of stock options | ' | ' | ' | ' | 422 |
Dividends/distributions | -261 | -340 | -1,360 | -1,360 | -21,301 |
Transactions with Parent/affiliates | 4,939 | -22,106 | -14,557 | -88,541 | -67,458 |
Net cash provided by (used in) financing activities | 451,299 | -22,446 | -16,443 | 797 | 45,443 |
Net increase (decrease) in cash and cash equivalents | 3,433 | -24,473 | 10,490 | -11,305 | 25,870 |
Cash and cash equivalents, beginning of year | 25,326 | 14,836 | 14,836 | 26,141 | 271 |
Cash and cash equivalents, end of year | 28,759 | -9,637 | 25,326 | 14,836 | 26,141 |
Scenario, Previously Reported [Member] | Co-Issuer [Member] | ' | ' | ' | ' | ' |
Cash flows from operating activities: | ' | ' | ' | ' | ' |
Net income (loss) | 1,703 | -1,004 | 4,215 | 8,113 | 5,089 |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ' | ' | ' | ' | ' |
Equity in income of subsidiaries | 0 | 0 | 0 | 0 | 0 |
Loss on derivative instruments | ' | ' | ' | ' | 0 |
Depreciation, depletion, and amortization | 2,524 | 2,531 | 10,178 | 10,085 | 10,175 |
Accretion of asset retirement obligation and receivable | 18 | 16 | 63 | 59 | 55 |
Amortization of intangible assets and liabilities, net | 146 | 156 | 622 | 622 | 621 |
Non-cash tax benefits | 0 | ' | 0 | ' | ' |
Share-based compensation | 7 | 10 | 37 | 44 | 32 |
Loss (gain) on sales of assets | 0 | 0 | 0 | 0 | 189 |
Amortization of deferred financing costs | 0 | 0 | 0 | 0 | -21 |
Other | ' | ' | 0 | ' | ' |
Loss on extinguishment of debt | ' | ' | 0 | 0 | 9,073 |
Gain on sales of investment securities | ' | 0 | 0 | 0 | 0 |
Changes in operating assets and liabilities: | ' | ' | ' | ' | ' |
Receivables, net | 480 | 2,885 | -126 | -151 | 1,479 |
Inventories | 4,316 | -2,181 | -3,114 | 709 | -1,820 |
Excess of black lung benefit obligation over trust assets | 0 | 0 | 0 | 0 | 0 |
Accounts payable and accrued expenses | -3,386 | 5,960 | 5,141 | -3,209 | -1,063 |
Deferred revenue | -2,415 | -1,927 | -8,706 | -8,312 | -8,774 |
Income tax payable | 0 | 0 | 0 | ' | ' |
Accrual for workers' compensation | 0 | 0 | 0 | 0 | 0 |
Asset retirement obligations | 0 | 0 | 0 | 0 | 0 |
Accrual for postretirement medical benefits | 0 | 0 | 0 | 0 | 0 |
Pension and SERP obligations | 1 | 4 | 18 | 15 | -50 |
Other assets and liabilities | -309 | 465 | 4,983 | -536 | -529 |
Net cash provided by (used in) operating activities | 3,085 | 6,915 | 13,311 | 7,439 | 14,456 |
Cash flows from investing activities: | ' | ' | ' | ' | ' |
Distributions received by subsidiaries | 0 | 0 | 0 | 0 | 0 |
Additions to property, plant and equipment | -35 | -134 | -790 | -2,067 | -2,119 |
Change in restricted investments and bond collateral and reclamation deposits | 5,998 | -3 | -8 | -7 | 2,581 |
Cash payments related to acquisitions | ' | ' | ' | 0 | 0 |
Net proceeds from sales of assets | ' | 0 | 0 | 0 | 0 |
Proceeds from sale of restricted investments | ' | 0 | 0 | 0 | 0 |
Receivable from customer for property and equipment purchases | 0 | 0 | 0 | 0 | 0 |
Other | 0 | ' | 0 | ' | ' |
Net cash provided by (used in) investing activities | 5,963 | -137 | -798 | -2,074 | 462 |
Cash flows from financing activities: | ' | ' | ' | ' | ' |
Change in book overdrafts | 0 | 0 | 0 | -259 | 259 |
Borrowings from long-term debt | 0 | ' | ' | 0 | 0 |
Repayments of long-term debt | 0 | 0 | 0 | 0 | -46,220 |
Borrowings on revolving lines of credit | ' | 0 | 0 | 0 | 1,500 |
Repayments on revolving lines of credit | ' | 0 | 0 | 0 | -1,500 |
Debt issuance and other refinancing costs | 0 | 0 | 0 | 0 | -9,077 |
Exercise of stock options | ' | ' | ' | ' | 0 |
Dividends/distributions | -8,500 | -6,500 | -14,500 | -1,050 | -10,700 |
Transactions with Parent/affiliates | 154 | -16 | 783 | 483 | 49,946 |
Net cash provided by (used in) financing activities | -8,346 | -6,516 | -13,717 | -826 | -15,792 |
Net increase (decrease) in cash and cash equivalents | 702 | 262 | -1,204 | 4,539 | -874 |
Cash and cash equivalents, beginning of year | 3,341 | 4,545 | 4,545 | 6 | 880 |
Cash and cash equivalents, end of year | 4,043 | 4,807 | 3,341 | 4,545 | 6 |
Scenario, Previously Reported [Member] | Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ' |
Cash flows from operating activities: | ' | ' | ' | ' | ' |
Net income (loss) | 5,803 | 6,876 | 16,079 | 37,771 | 3,463 |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ' | ' | ' | ' | ' |
Equity in income of subsidiaries | 0 | 0 | 0 | 0 | 0 |
Loss on derivative instruments | ' | ' | ' | ' | 0 |
Depreciation, depletion, and amortization | 6,269 | 5,189 | 27,452 | 19,571 | 7,936 |
Accretion of asset retirement obligation and receivable | 1,278 | 1,050 | 4,192 | 4,038 | 3,034 |
Amortization of intangible assets and liabilities, net | 0 | 0 | 0 | 0 | 0 |
Non-cash tax benefits | 0 | ' | 0 | ' | ' |
Share-based compensation | 37 | 681 | 914 | 559 | 249 |
Loss (gain) on sales of assets | -1 | -133 | 115 | 251 | 59 |
Amortization of deferred financing costs | 0 | 13 | 49 | 847 | 383 |
Other | ' | ' | -1,001 | ' | ' |
Loss on extinguishment of debt | ' | ' | 0 | 0 | 84 |
Gain on sales of investment securities | ' | 7 | 19 | 0 | -75 |
Changes in operating assets and liabilities: | ' | ' | ' | ' | ' |
Receivables, net | -2,738 | -2,467 | 9,871 | -20,910 | -4,343 |
Inventories | 944 | -753 | 187 | -2,389 | 134 |
Excess of black lung benefit obligation over trust assets | 0 | 0 | 0 | 0 | 0 |
Accounts payable and accrued expenses | 7,356 | -10 | 4,082 | 18,396 | 378 |
Deferred revenue | 844 | 1,703 | 972 | 772 | -349 |
Income tax payable | 0 | -1,679 | -1,679 | ' | ' |
Accrual for workers' compensation | 0 | 0 | 0 | 0 | 0 |
Asset retirement obligations | -9 | -190 | -1,971 | -1,198 | -875 |
Accrual for postretirement medical benefits | 935 | 1,478 | 5,620 | 4,858 | 0 |
Pension and SERP obligations | 113 | 177 | 589 | 709 | 0 |
Other assets and liabilities | -1,616 | -195 | 8,206 | 1,047 | 3,839 |
Net cash provided by (used in) operating activities | 19,215 | 11,747 | 73,696 | 64,322 | 13,917 |
Cash flows from investing activities: | ' | ' | ' | ' | ' |
Distributions received by subsidiaries | 0 | 0 | 0 | 0 | 0 |
Additions to property, plant and equipment | -2,609 | -4,224 | -17,156 | -8,385 | -2,569 |
Change in restricted investments and bond collateral and reclamation deposits | 4 | -151 | 1,766 | -27,504 | -3,738 |
Cash payments related to acquisitions | ' | ' | ' | -76,522 | 0 |
Net proceeds from sales of assets | ' | 309 | 534 | 240 | 250 |
Proceeds from sale of restricted investments | ' | 120 | 788 | 1,889 | 1,075 |
Receivable from customer for property and equipment purchases | 0 | 0 | 0 | 0 | 0 |
Other | 0 | ' | -2,500 | ' | ' |
Net cash provided by (used in) investing activities | -2,605 | -3,946 | -16,568 | -110,282 | -4,982 |
Cash flows from financing activities: | ' | ' | ' | ' | ' |
Change in book overdrafts | -317 | -7 | 310 | 6 | -694 |
Borrowings from long-term debt | 0 | ' | ' | 0 | 0 |
Repayments of long-term debt | -875 | -713 | -2,322 | -2,494 | -11,982 |
Borrowings on revolving lines of credit | ' | 0 | 0 | 0 | 12,200 |
Repayments on revolving lines of credit | ' | 0 | 0 | 0 | -29,100 |
Debt issuance and other refinancing costs | 0 | 0 | 0 | 0 | 100 |
Exercise of stock options | ' | ' | ' | ' | 0 |
Dividends/distributions | -18,000 | -8,000 | -44,500 | -19,173 | 0 |
Transactions with Parent/affiliates | 3,434 | 2,255 | -8,036 | 72,840 | 20,684 |
Net cash provided by (used in) financing activities | -15,758 | -6,465 | -54,548 | 51,179 | -8,792 |
Net increase (decrease) in cash and cash equivalents | 852 | 1,336 | 2,580 | 5,219 | 143 |
Cash and cash equivalents, beginning of year | 7,942 | 5,362 | 5,362 | 143 | 0 |
Cash and cash equivalents, end of year | 8,794 | 6,698 | 7,942 | 5,362 | 143 |
Scenario, Previously Reported [Member] | Non-Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ' |
Cash flows from operating activities: | ' | ' | ' | ' | ' |
Net income (loss) | 726 | 1,141 | 13,072 | -4,541 | 5,073 |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ' | ' | ' | ' | ' |
Equity in income of subsidiaries | 0 | 0 | 0 | 0 | 0 |
Loss on derivative instruments | ' | ' | ' | ' | 0 |
Depreciation, depletion, and amortization | 7,190 | 6,612 | 29,247 | 27,068 | 27,177 |
Accretion of asset retirement obligation and receivable | 2,183 | 2,114 | 8,426 | 8,092 | 7,789 |
Amortization of intangible assets and liabilities, net | 7 | 8 | 43 | 36 | 36 |
Non-cash tax benefits | 0 | ' | 0 | ' | ' |
Share-based compensation | 115 | 1,013 | 1,934 | 2,721 | 2,769 |
Loss (gain) on sales of assets | 39 | -101 | -189 | 264 | 389 |
Amortization of deferred financing costs | 122 | 149 | 517 | 622 | 668 |
Other | ' | ' | 0 | ' | ' |
Loss on extinguishment of debt | ' | ' | 0 | 0 | 0 |
Gain on sales of investment securities | ' | 0 | -22 | 25 | -75 |
Changes in operating assets and liabilities: | ' | ' | ' | ' | ' |
Receivables, net | 6,104 | -3,355 | -4,069 | 102 | 2,263 |
Inventories | -735 | 247 | 415 | -484 | -439 |
Excess of black lung benefit obligation over trust assets | 0 | 0 | 0 | 0 | 0 |
Accounts payable and accrued expenses | 1,327 | 6,979 | -9,852 | 5,453 | 3,103 |
Deferred revenue | 269 | 384 | -1,344 | -658 | -795 |
Income tax payable | 28 | 1,706 | 1,678 | ' | ' |
Accrual for workers' compensation | 0 | 0 | 0 | 0 | 0 |
Asset retirement obligations | -1,343 | -3,017 | -7,439 | -5,745 | -5,635 |
Accrual for postretirement medical benefits | 345 | 607 | 2,000 | 1,857 | 1,235 |
Pension and SERP obligations | -490 | 241 | 390 | 792 | 3,092 |
Other assets and liabilities | -2,880 | 4,081 | 4,124 | -10,128 | -392 |
Net cash provided by (used in) operating activities | 13,007 | 18,809 | 38,931 | 25,476 | 46,258 |
Cash flows from investing activities: | ' | ' | ' | ' | ' |
Distributions received by subsidiaries | 0 | 0 | 0 | 0 | 0 |
Additions to property, plant and equipment | -444 | -786 | -9,908 | -10,421 | -22,109 |
Change in restricted investments and bond collateral and reclamation deposits | -395 | -5,883 | -373 | -3,133 | -3,115 |
Cash payments related to acquisitions | ' | ' | ' | 0 | 0 |
Net proceeds from sales of assets | ' | 132 | 368 | 240 | 437 |
Proceeds from sale of restricted investments | ' | 5,499 | 7,499 | 636 | 2,275 |
Receivable from customer for property and equipment purchases | -10 | -49 | -389 | -674 | -96 |
Other | -60 | ' | -1,040 | ' | ' |
Net cash provided by (used in) investing activities | -909 | -1,087 | -3,843 | -13,352 | -22,608 |
Cash flows from financing activities: | ' | ' | ' | ' | ' |
Change in book overdrafts | 2 | 827 | 0 | 0 | -143 |
Borrowings from long-term debt | 0 | ' | ' | 0 | 0 |
Repayments of long-term debt | -5,364 | -5,860 | -25,266 | -19,352 | -12,832 |
Borrowings on revolving lines of credit | ' | 6,000 | 7,000 | 16,500 | 73,500 |
Repayments on revolving lines of credit | ' | -6,000 | -7,000 | -16,500 | -75,000 |
Debt issuance and other refinancing costs | 0 | -156 | -156 | -22 | 0 |
Exercise of stock options | ' | ' | ' | ' | 0 |
Dividends/distributions | -16,000 | -5,100 | -19,000 | -11,748 | -12,700 |
Transactions with Parent/affiliates | 5,067 | 4,076 | 26,968 | 21,372 | 3,394 |
Net cash provided by (used in) financing activities | -16,295 | -6,213 | -17,454 | -9,750 | -23,781 |
Net increase (decrease) in cash and cash equivalents | -4,197 | 11,509 | 17,634 | 2,374 | -131 |
Cash and cash equivalents, beginning of year | 24,501 | 6,867 | 6,867 | 4,493 | 4,624 |
Cash and cash equivalents, end of year | 20,304 | 18,376 | 24,501 | 6,867 | 4,493 |
Scenario, Previously Reported [Member] | Consolidating Adjustments [Member] | ' | ' | ' | ' | ' |
Cash flows from operating activities: | ' | ' | ' | ' | ' |
Net income (loss) | -8,232 | -7,013 | -33,366 | -41,343 | -13,625 |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ' | ' | ' | ' | ' |
Equity in income of subsidiaries | 13,319 | 10,304 | 42,347 | 45,762 | 18,508 |
Loss on derivative instruments | ' | ' | ' | ' | 0 |
Depreciation, depletion, and amortization | 0 | 0 | 0 | 0 | 0 |
Accretion of asset retirement obligation and receivable | 0 | 0 | 0 | 0 | 0 |
Amortization of intangible assets and liabilities, net | 0 | 0 | 0 | 0 | 0 |
Non-cash tax benefits | 0 | ' | 0 | ' | ' |
Share-based compensation | 0 | 0 | 0 | 0 | 0 |
Loss (gain) on sales of assets | 0 | 0 | 0 | 0 | 0 |
Amortization of deferred financing costs | 0 | 0 | 0 | 0 | 0 |
Other | ' | ' | 0 | ' | ' |
Loss on extinguishment of debt | ' | ' | 0 | 0 | 0 |
Gain on sales of investment securities | ' | 0 | 0 | 0 | 0 |
Changes in operating assets and liabilities: | ' | ' | ' | ' | ' |
Receivables, net | 1,534 | 3,008 | -13,294 | 7,957 | 6,250 |
Inventories | 0 | 0 | 0 | 0 | 0 |
Excess of black lung benefit obligation over trust assets | 0 | 0 | 0 | 0 | 0 |
Accounts payable and accrued expenses | -8 | -1,482 | 14,821 | -8,222 | -4,139 |
Deferred revenue | 0 | 0 | 0 | 0 | 0 |
Income tax payable | 0 | 0 | 0 | ' | ' |
Accrual for workers' compensation | 0 | 0 | 0 | 0 | 0 |
Asset retirement obligations | 0 | 0 | 0 | 0 | 0 |
Accrual for postretirement medical benefits | 0 | 0 | 0 | 0 | 0 |
Pension and SERP obligations | 0 | 0 | 0 | 0 | 0 |
Other assets and liabilities | 6,981 | 0 | -5,350 | 2,000 | -428 |
Net cash provided by (used in) operating activities | -28,906 | -14,783 | -72,842 | -25,817 | -16,834 |
Cash flows from investing activities: | ' | ' | ' | ' | ' |
Distributions received by subsidiaries | -42,500 | -19,600 | -78,000 | -31,971 | -23,400 |
Additions to property, plant and equipment | 0 | 0 | 0 | 0 | 0 |
Change in restricted investments and bond collateral and reclamation deposits | 0 | 0 | 0 | 0 | 0 |
Cash payments related to acquisitions | ' | ' | ' | 0 | 0 |
Net proceeds from sales of assets | ' | 0 | 0 | 0 | 0 |
Proceeds from sale of restricted investments | ' | 0 | 0 | 0 | 0 |
Receivable from customer for property and equipment purchases | 0 | 0 | 0 | 0 | 0 |
Other | 0 | ' | 0 | ' | ' |
Net cash provided by (used in) investing activities | 0 | 0 | 0 | 0 | 0 |
Cash flows from financing activities: | ' | ' | ' | ' | ' |
Change in book overdrafts | 0 | 0 | 0 | 0 | 0 |
Borrowings from long-term debt | 0 | ' | ' | 0 | 0 |
Repayments of long-term debt | 0 | 0 | 0 | 0 | 0 |
Borrowings on revolving lines of credit | ' | 0 | 0 | 0 | 0 |
Repayments on revolving lines of credit | ' | 0 | 0 | 0 | 0 |
Debt issuance and other refinancing costs | 0 | 0 | 0 | 0 | 0 |
Exercise of stock options | ' | ' | ' | ' | 0 |
Dividends/distributions | 42,500 | 19,600 | 78,000 | 31,971 | 23,400 |
Transactions with Parent/affiliates | -13,594 | 15,791 | -5,158 | -6,154 | -6,566 |
Net cash provided by (used in) financing activities | 28,906 | 35,391 | 72,842 | 25,817 | 16,834 |
Net increase (decrease) in cash and cash equivalents | 0 | 20,608 | 0 | 0 | 0 |
Cash and cash equivalents, beginning of year | 0 | 0 | 0 | 0 | 0 |
Cash and cash equivalents, end of year | $0 | $20,608 | $0 | $0 | $0 |
SUBSEQUENT_EVENT_Details
SUBSEQUENT EVENT (Details) (Senior Notes Due 2018, USD $) | Mar. 31, 2014 | Feb. 07, 2014 |
In Millions, unless otherwise specified | Subsequent Event | |
Subsequent Event [Line Items] | ' | ' |
Senior secured note face amount | $425 | $425 |
Stated interest rate | 10.75% | 10.75% |
Issue price (as a percent of face value) | ' | 106.88% |