Alpha Appalachia (MEE) 10-Q/A 11 Aug 09 2009 Q2 Quarterly report (amended) Financial data

1000 - CONDENSED CONSOLIDATED S

1000 - CONDENSED CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Thousands, except Share data in Millions	3 Months Ended Jun. 30, 2009 Unaudited	3 Months Ended Jun. 30, 2008	6 Months Ended Jun. 30, 2009	6 Months Ended Jun. 30, 2008
Revenues
Produced coal revenue	$603,219	$710,305	$1,284,246	$1,253,536
Freight and handling revenue	60,948	83,460	118,730	148,502
Purchased coal revenue	19,231	6,867	29,171	17,541
Other revenue	14,229	26,206	33,568	51,884
Total revenues	697,627	826,838	1,465,715	1,471,463
Costs and Expenses
Cost of produced coal revenue	484,641	499,661	1,030,566	917,888
Freight and handling costs	60,948	83,460	118,730	148,502
Cost of purchased coal revenue	15,489	5,570	20,695	15,434
Depreciation, depletion and amortization, applicable to: Cost of produced coal revenue	66,801	61,459	138,419	120,807
Depreciation, depletion and amortization, applicable to: Selling, general and administrative	840	848	1,861	1,752
Selling, general and administrative	20,001	38,516	41,871	59,995
Other expense	579	622	1,362	1,408
Litigation charge	0	245,276	0	245,276
Gain on derivative instruments	(377)	0	(9,244)	0
Total costs and expenses	648,922	935,412	1,344,260	1,511,062
Income (loss) before interest and taxes	48,705	(108,574)	121,455	(39,599)
Interest income	2,807	3,586	11,684	8,807
Interest expense	(25,453)	(20,806)	(50,689)	(41,763)
Income (loss) before taxes	26,059	(125,794)	82,450	(72,555)
Income tax (benefit) expense	(5,867)	32,456	(18,832)	21,151
Net income (loss)	$20,192	($93,338)	$63,618	($51,404)
Net income per share
Net income (loss) per share - Basic	0.24	-1.16	0.75	-0.64
Net income (loss) per share - Diluted	0.24	-1.16	0.75	-0.64
Shares used to calculate income per share
Shares used to calculate Net income (loss) per share - Basic	85	80	85	80
Shares used to calculate Net income (loss) per share - Diluted	85	80	85	80
Dividends per share	0.06	0.05	0.12	0.1

2000 - CONDENSED CONSOLIDATED B

2000 - CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
In Thousands	Jun. 30, 2009	Dec. 31, 2008
Current Assets
Cash and cash equivalents	$609,557	$606,997
Short-term investment	15,121	39,383
Trade and other accounts receivable, less allowance for doubtful accounts	240,403	233,266
Inventories	225,262	233,168
Income taxes receivable	0	6,621
Other current assets	99,133	116,061
Total current assets	1,189,476	1,235,496
Net Property, Plant and Equipment	2,337,855	2,297,696
Other noncurrent assets	127,699	139,186
Total assets	3,655,030	3,672,378
Current Liabilities
Accounts payable, principally trade and bank overdrafts	163,722	244,201
Short-term debt	1,546	1,976
Payroll and employee benefits	51,622	56,959
Income taxes payable	1,340	0
Other current liabilities	168,384	201,017
Total current liabilities	386,614	504,153
Noncurrent Liabilities
Long-term debt	1,318,244	1,310,181
Deferred income taxes	183,924	177,294
Pension obligation	62,363	63,304
Other noncurrent liabilities	510,828	490,834
Total noncurrent liabilities	2,075,359	2,041,613
Total liabilities	2,461,973	2,545,766
Capital Stock
Preferred stock - value	0	0
Commom stock - value	53,405	53,378
Additional capital	551,053	542,519
Retained earnings	685,510	632,077
Accumulated other comprehensive loss	(96,911)	(101,362)
Total shareholders' equity	1,193,057	1,126,612
Total liabilities and shareholders' equity	$3,655,030	$3,672,378

2050 - PARANTHETICAL DATA TO TH

2050 - PARANTHETICAL DATA TO THE CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
In Thousands, except Share data in Millions	Jun. 30, 2009	Dec. 31, 2008
Current Assets
Allowance for doubtful accounts	$644	$873
Capital Stock
Preferred Stock - authorized shares without par value	20	20
Preferred Stock - none issued	0	0
Common Stock - authorized	150	150
Common Stock - par value	0.625	0.625
Common Stock - shares issued	85	85

3000 - CONDENSED CONSOLIDATED S

3000 - CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands	6 Months Ended Jun. 30, 2009	6 Months Ended Jun. 30, 2008
CASH FLOWS FROM OPERATING ACTIVITIES
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$63,618	($51,404)
Adjustment to reconcile Net Income to Cash provided by operating activities:
Depreciation, depletion and amortization	140,280	122,559
Share-based compensation expense	6,474	5,629
Amortization of bond discount	9,515	314
Deferred income taxes	5,870	(26,494)
(Gain) loss on disposal of assets	(11,046)	247
Gain on reserve exchange	0	(28,833)
Net change in fair value of derivative instruments	(25,034)	0
Asset retirement obligations accretion	7,016	5,922
Changes in operating asset and liabilities:
Increase in accounts receivable	(6,276)	(101,240)
Decrease (increase) in inventories	7,906	(5,229)
Decrease in other current assets	16,928	4,244
Decrease (increase) in other assets	7,787	1,922
(Decrease) increase in accounts payable and bank overdrafts	(80,479)	38,539
Increase in accrued income taxes	7,961	16,302
(Decrease) increase in other accrued liabilities	(13,538)	274,534
Increase in pension obligation	7,865	834
Increase in other noncurrent liabilities	12,074	20,249
Asset retirement obligations payments	(2,538)	(3,440)
Cash provided by operating activities	154,383	274,655
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	(179,131)	(301,758)
Proceeds from redemption of Short-term investment	24,262	0
Proceeds from sale of assets	15,113	1,440
Cash utilized by investing activities	(139,756)	(300,318)
CASH FLOWS FROM FINANCING ACTIVITIES
Repayments of capital lease obligations	(1,812)	(940)
Redemption of 4.75% convertible senior notes	(70)	0
Cash dividends paid	(10,185)	(7,972)
Proceeds from stock options exercised	0	16,467
Income tax benefit from stock option exercises	0	4,792
Cash (utilized) provided by financing activities	(12,067)	12,347
(Decrease) increase in Cash and cash equivalents	2,560	(13,316)
Cash and cash equivalents at end of period	606,997	365,220
Cash and cash equivalents at end of period	$609,557	$351,904

6000 - Significant Accounting P

6000 - Significant Accounting Policies
	6 Months Ended Jun. 30, 2009 USD / shares
Significant Accounting Policies [Abstract]
Significant Accounting Policies	(1)Significant Accounting Policies Basis of Presentation The condensed consolidated financial statements do not include footnotes and certain financial information normally presented annually under accounting principles generally accepted in the United States and, therefore, should be read in conjunction with the Annual Report on Form 10-K of Massey Energy Company ("we," "our," "us" or the "Company") for the year ended December 31, 2008. Accounting measurements at interim dates inherently involve greater reliance on estimates than at year-end. The results of operations for the quarterly period ended June 30, 2009 are not necessarily indicative of results that can be expected for the fiscal year ending December 31, 2009. The condensed consolidated financial statements included herein are unaudited; however, the financial statements contain all adjustments (consisting of normal recurring accruals), which, in our opinion, are necessary to present fairly our consolidated financial position at June 30, 2009, our consolidated results of operations for the three and six months ended June 30, 2009 and 2008, and cash flows for the six months ended June 30, 2009 and 2008, in conformity with accounting principles generally accepted in the United States ("GAAP"). The condensed consolidated financial statements include our accounts and the accounts of our wholly owned and sole, direct operating subsidiary, A.T. Massey Coal Company, Inc. ("A.T. Massey"), and A.T. Massey's wholly and majority owned direct and indirect subsidiaries. Significant intercompany transactions and accounts are eliminated in consolidation. We have no independent assets or operations. We do not have a controlling interest in any separate independent operations. Investments in business entities in which we do not have control, but have the ability to exercise significant influence over the operating and financial policies, are accounted for under the equity method. A.T. Massey and substantially all of our indirect operating subsidiaries, each such subsidiary being indirectly 100% owned by us, fully and unconditionally, jointly and severally, guarantee our obligations under the 6.625% senior notes due 2010 ("6.625% Notes"), the 6.875% senior notes due 2013 ("6.875% Notes"), the 3.25% convertible senior notes due 2015 ("3.25% Notes") and the 2.25% convertible senior notes due 2024 ("2.25% Notes"). The subsidiaries not providing a guarantee of the 6.625% Notes, the 6.875% Notes, the 3.25% Notes and the 2.25% Notes are minor (as defined under Securities and Exchange Commission ("SEC") Rule 3-10(h)(6) of Regulation S-X). See Note 5 to the Notes to Condensed Consolidated Financial Statements for a more complete discussion of debt. We have evaluated all subsequent events through August 10, 2009, the date the financial statements were issued. No material recognized or non-recognizable subsequent events were identified. Fair Value Measurements In September 2006, the Financial Accounting Standards Board ("FASB") issued Statement of Financial Accounting Standards ("SFAS") No. 157, "Fair Value Measurements" ("SFAS 157"). In February 2008, the FASB issued FASB Staff Position 157-2, Partial Deferra

6010 - Inventories

6010 - Inventories
	6 Months Ended Jun. 30, 2009 USD / shares
Inventories [Abstract]
Inventories	(2)Inventories Inventories consisted of the following: June 30, 2009December 31, 2008(In Thousands)Saleable coal $133,561 $144,834 Raw coal 28,155 16,802 Coal inventory 161,716 161,636 Supplies inventory 63,546 71,532 Total inventory $225,262 $233,168 Saleable coal represents coal ready for sale, including inventories designated for customer facilities under consignment arrangements of $24.4 million and $50.7 million at June 30, 2009 and December 31, 2008, respectively. Raw coal represents coal that generally requires further processing prior to shipment to the customer.

6020 - Other Current Assets

6020 - Other Current Assets
	6 Months Ended Jun. 30, 2009 USD / shares
Other Current Assets [Abstract]
Other Current Assets	Other Current Assets Other current assets are comprised of the following: June 30, 2009December 31, 2008(In Thousands)Longwall panel costs $14,722 $12,290 Deposits 59,432 59,648 Other 24,979 44,123 Total other current assets $99,133 $116,061 Deposits consist primarily of funds placed in restricted accounts with financial institutions to collateralize letters of credit that support workers' compensation requirements, insurance and other obligations. As of June 30, 2009 and December 31, 2008, Deposits includes $46.0 million of funds pledged as collateral to support $45.0 million of outstanding letters of credit. In addition, Deposits at June 30, 2009 and December 31, 2008 includes $13.4 and $13.0 million of United States Treasury securities supporting various regulatory obligations, respectively.

6030 - Property, Plant and Equi

6030 - Property, Plant and Equipment
	6 Months Ended Jun. 30, 2009 USD / shares
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	(4)Property, Plant and Equipment Property, plant and equipment is comprised of the following: June 30, 2009December 31, 2008(In Thousands)Property, plant and equipment, at cost $4,520,188 $4,373,325 Accumulated depreciation, depletion and amortization (2,182,333) (2,075,629) Net property, plant and equipment $2,337,855 $2,297,696 Property, plant and equipment includes gross assets under capital leases of $12.9 and $17.3 million at June 30, 2009 and December 31, 2008, respectively. During the first quarter of 2009, we sold our interest in certain coal reserves to a third party, recognizing a pre-tax gain of $7.1 million in Other revenue. During the first and second quarters of 2008, we exchanged coal reserves with various third parties, recognizing gains in Other revenue of $13.6 and $15.3 million (pre-tax), respectively, in accordance with SFAS 153. The acquired coal reserves were recorded in Property, plant and equipment at the fair value of the reserves surrendered.

6040 - Debt

6040 - Debt
	6 Months Ended Jun. 30, 2009 USD / shares
Debt [Abstract]
Debt	(5)Debt Debt is comprised of the following: As Adjusted June 30, 2009December 31, 2008(In Thousands)6.875% senior notes due 2013, net of discount of $3,622 and $3,959, respectively $756,378 $756,041 3.25% convertible senior notes due 2015, net of discount of $144,284 and $153,462, respectively 526,716 517,538 6.625% senior notes due 2010 21,949 21,949 2.25% convertible senior notes due 2024 9,647 9,647 4.75% convertible senior notes due 2023 - 70 Capital lease obligations 5,100 6,912 Total debt 1,319,790 1,312,157 Amounts due within one year (1,546) (1,976) Total long-term debt $1,318,244 $1,310,181 The weighted average effective interest rate of the outstanding borrowings was 7.3% both at June 30, 2009 and December 31, 2008. Convertible Debt Securities In May 2008, the FASB issued FSP APB 14-1 (as discussed in Note 1) which is applicable to our 3.25% Notes. We adopted FSP APB 14-1 as of January 1, 2009, which resulted in increased Interest expense of $4.6 and $9.1 million pre-tax for the three and six months ended June 30, 2009. The impact to Earnings per share was a decrease of $0.04 and $0.07 for the three and six months ended June 30, 2009. FSP APB 14-1 requires us to separately account for the liability and equity components in a manner reflective of the issuers' nonconvertible debt borrowing rate, which was determined to be 7.75% at the date of issuance. The discount associated with the 3.25% Notes will be amortized via the effective-interest method increasing the reported liability until the notes are carried at par value on their maturity date. 4.75% Notes During May 2009, we redeemed at par the remaining $70,000 of the 4.75% convertible senior notes due 2023.

6050 - Pension Expense

6050 - Pension Expense
	6 Months Ended Jun. 30, 2009 USD / shares
Pension Expense [Abstract]
Pension Expense	(6)Pension Expense Net periodic pension expense for both our qualified defined benefit pension plan and nonqualified supplemental benefit pension plan is comprised of the following components:Three Months EndedSix Months Ended June 30,June 30,2009200820092008(In Thousands)Service cost $2,972 $2,212 $5,354 $4,328 Interest cost 4,293 4,057 8,465 8,056 Expected return on plan assets (4,154) (5,713) (8,180) (11,426)Recognized loss 4,428 378 8,666 631 Amortization of prior service cost 130 11 140 21 Net periodic pension expense $7,669 $945 $14,445 $1,610 We paid benefits to participants of the nonqualified supplemental benefit pension plan of $0.03 million for the six month periods ended June 30, 2009 and 2008. We expect that contributions of an estimated $7.5 million will be required in 2009 for the qualified defined benefit pension plan. We have contributed a total of $5.0 million to the qualified defined benefit pension plan in 2009, $2.5 million in both April and July 2009. The increase in our 2009 pension cost related to our qualified defined benefit pension plan was due to investment losses on our pension assets incurred during 2008.

6060 - Other Noncurrent Liabili

6060 - Other Noncurrent Liabilities
	6 Months Ended Jun. 30, 2009 USD / shares
Other Noncurrent Liabilities [Abstract]
Other Noncurrent Liabilities	(7)Other Noncurrent LiabilitiesOther noncurrent liabilities is comprised of the following: June 30, 2009December 31, 2008(In Thousands)Reclamation $165,964 $154,823 Workers' compensation and black lung 93,952 92,982 Other postretirement benefits 165,556 161,527 Other 85,356 81,502 Total other noncurrent liabilities $510,828 $490,834 of operations for the quarterly period ended June 30, 2009 are not necessarily indicative of results that can be expected for the fiscal year ending December 31, 2009. The condensed consolidated financial statements included herein are unaudited; however, the financial statements contain all adjustments (consisting of normal recurring accruals), which, in our opinion, are necessary to present fairly our consolidated financial position

6070 - Black Lung and Workers'

6070 - Black Lung and Workers' Compensation Expense
	6 Months Ended Jun. 30, 2009 USD / shares
Black Lung and Workers' Compensation Expense
Black Lung and Workers' Compensation Expense	(8)Black Lung and Workers Compensation Expense Expenses for black lung benefits and workers' compensation related benefits include the following components:Three Months EndedSix Months Ended June 30,June 30,2009200820092008(In Thousands)Self-insured black lung benefits:Service cost $1,145 $493 $1,845 $1,093 Interest cost 686 845 1,436 1,695 Amortization of actuarial gain (1,263) (870) (2,288) (1,745)Subtotal black lung benefits expense 568 468 993 1,043 Other workers' compensation benefits 5,696 7,416 15,065 16,547 Total black lung and workers' compensation benefits expense $6,264 $7,884 $16,058 $17,590 Payments for benefits, premiums and other costs related to black lung and workers' compensation liabilities were $5.7 million and $6.8 million for the three months ended June 30, 2009 and 2008, respectively, and were $17.6 million and $13.4 million for the six months ended June 30, 2009 and 2008, respectively.

6090 - Earnings Per Share

6090 - Earnings Per Share
	6 Months Ended Jun. 30, 2009 USD / shares
Earnings Per Share [Abstract]
Earnings Per Share	(10)Earnings Per Share The number of shares of our common stock, $0.625 par value per share ("Common Stock"), used to calculate basic earnings per share for the three and six months ended June 30, 2009 and 2008 is based on the weighted average of outstanding shares of Common Stock during the respective periods. The number of shares of Common Stock used to calculate diluted earnings per share is based on the number of shares of Common Stock used to calculate basic earnings per share plus the dilutive effect of stock options and other stock-based instruments held by our employees and directors during each period and debt securities currently convertible into shares of Common Stock during each period. The effect of dilutive securities issuances in the amount of 2.7 million and 3.0 million shares of Common Stock for the three and six months ended June 30, 2009, and 2.4 million and 2.8 million shares of Common Stock for the three and six months ended June 30, 2008, respectively, were excluded from the calculation of diluted income per share of Common Stock, as such inclusion would result in antidilution. The computations for basic and diluted income per share are based on the following per share information:Three Months EndedSix Months Ended June 30,June 30,2009200820092008(In Thousands, Except Per Share Amounts)Numerator:Net income (loss) - numerator for basic $20,192 $(93,338)$63,618 $(51,404)Effect of convertible notes 43 - 87 - Adjusted net income (loss) - numerator for diluted $20,235 $(93,338)$63,705 $(51,404)Denominator:Weighted average shares - denominator for basic 84,872 80,162 84,865 79,965 Effect of stock options/restricted stock 109 - 71 - Effect of convertible notes 289 - 290 - Adjusted weighted average shares - denominator for diluted 85,270 80,162 85,226 79,965 Net income (loss) per share:Basic $0.24 $(1.16) $0.75 $(0.64)Diluted $0.24 $(1.16) $0.75 $(0.64) The 2.25% Notes are convertible by holders into shares of Common Stock during certain periods under certain circumstances. The 2.25% Notes were not eligible for conversion at June 30, 2009. If all of the 2.25% Notes outstanding at June 30, 2009 had been eligible for conversion and were converted, we would have issued 287,113 shares of Common Stock. The 3.25% Notes are convertible under certain circumstances and during certain periods into (i) cash, up to the aggregate principal amount of the 3.25% Notes subject to conversion and (ii) cash, Common Stock or a combination thereof, at our election in respect to the remainder (if any) of our conversion obligation. As of June 30, 2009, the price per share of Common Stock had not reached the specified threshold for conversion.

7000 - DerivativeInstruments

7000 - DerivativeInstruments
	6 Months Ended Jun. 30, 2009 USD / shares
Derivative Instruments
Derivative Instruments and Hedging Activities Disclosure [Text Block]	(11)Derivative Instruments We evaluate each of our coal sales and coal purchase forward contracts under SFAS No. 133, "Accounting for Derivative Instruments and Hedging Activities" ("SFAS 133") to determine if they qualify for the normal purchase normal sale ("NPNS") exception prescribed by SFAS 133. The majority of our forward contracts do qualify for the NPNS exception based on management's intent and ability to physically deliver or take physical delivery of the coal and therefore are not reflected in the Condensed Consolidated Balance Sheets and Condensed Consolidated Statements of Income. For those contracts that do not qualify for the NPNS exception, the contracts are required to be accounted for as derivative instruments in accordance with SFAS 133, which requires all derivative instruments to be recognized as assets or liabilities and to be measured at fair value. We use purchase coal contracts to supplement our produced and processed coal in order to provide coal to meet customer requirements under sales contracts. Those contracts that have been identified as derivatives have not been designated as cash flow or fair value hedges and, accordingly, the net change in fair value is recorded in current period earnings. As of June 30, 2009, there were approximately 1.3 million and 2.5 million tons outstanding under these coal purchase and coal sales contracts, respectively. We have recorded a net gain of $0.4 million ($4.3 million of unrealized gains due to fair value measurement adjustments and $3.9 million of realized losses due to settlements on existing contracts) for the three months ended June 30, 2009, and a net gain of $9.2 million ($25.0 million of unrealized gains due to fair value measurement adjustments and $15.8 million of realized losses due to settlements on existing contracts) for the six months ended June 30, 2009, related to coal sales and purchase contracts that qualify as derivatives in the Condensed Consolidated Statements of Income under the caption Gain on derivative instruments. An asset of $2.5 million is included in Other current assets in the Condensed Consolidated Balance Sheets as of June 30, 2009. The fair values of our purchases and sales derivative contracts have been aggregated in Other current assets. We are exposed to certain risks related to coal price volatility. The forward purchases and sales contracts we enter into and deem derivatives allow us to mitigate a portion of the underlying risk associated with coal price volatility.

7010 - Fair Value of Financial

7010 - Fair Value of Financial Instruments
	6 Months Ended Jun. 30, 2009 USD / shares
Fair Value of Financial Instruments [Abstract]
Fair Value of Financial Instruments	(12)Fair Value of Financial Instruments On January 1, 2008, we adopted SFAS 157, which requires the categorization of financial assets and liabilities based upon the level of judgments associated with the inputs used to measure their fair value. Hierarchical levels defined by SFAS 157 and directly related to the amount of subjectivity associated with the inputs used to determine the fair value of financial assets and liabilities are as follows: Level 1 Inputs are unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date. Level 2 Inputs (other than quoted prices included in Level 1) are either directly or indirectly observable for the assets or liability through correlation with market data at the measurement date and for the duration of the instrument's anticipated life. Level 3 Inputs reflect management's best estimate of what market participants would use in pricing the asset or liability at the measurement date. Consideration is given to the risk inherent in the valuation technique and the risk inherent in the inputs to the model. Each major category of financial assets and liabilities measured at fair value on a recurring basis are categorized in the tables below based upon the lowest level of significant input to the valuations.June 30, 2009(In Thousands)Level 1Level 2Level 3TotalFixed income securities $13,421 $- $ - $13,421 Money market funds 623,003 - - 623,003 Short-term investment - - 15,121 15,121 Derivative instruments - 2,483 - 2,483 Total securities $636,424 $2,483 $15,121 $654,028 All investments in money market funds are cash equivalents or deposits pledged as collateral and are primarily invested in seven money market funds and four Treasury-backed funds. All fixed income securities are deposits, consisting of obligations of the U.S. Treasury, supporting various regulatory obligations. See Note 3 to the Notes to Condensed Consolidated Financial Statements for more information on deposits. Statement of Financial Accounting Standards No. 107, "Disclosures About Fair Value of Financial Instruments" (SFAS 107) requires the disclosure of the estimated fair value of financial instruments including those financial instruments for which the Statement of Financial Accounting Standard No. 159, "The Fair Value Option for Financial Assets and Financial Liabilities" (SFAS 159) fair value option was not elected. The following methods and assumptions were used to estimate the fair value of those financial instruments: Short-term debt: The carrying amount reported in the balance sheets for short-term debt approximates its fair value due to the short-term maturity of these instruments. Long-term debt: The fair values of long-term debt are estimated using the most recent quoted market prices at which a trade occurred. The carrying amounts and fair values of financial instruments for which SFAS 159 was not elected are presented in the table below. The carrying value of the 3.25% Notes in the table below reflects the full face amount of $671,000, which has been adjusted on the balance sheet for the adoption of APB 14-1. See Note 5 to the Notes to Condensed Consolidated Financial Statements for more i

7020 - Contingencies

7020 - Contingencies
	6 Months Ended Jun. 30, 2009 USD / shares
Contingencies [Abstract]
Contingencies	(13)Contingencies Harman In December 1997, A.T. Massey's then subsidiary, Wellmore Coal Corporation ("Wellmore"), declared force majeure under its coal supply agreement with Harman Mining Corporation ("Harman") and reduced the amount of coal to be purchased from Harman. On October 29, 1998, Harman and its sole shareholder sued A.T. Massey and five of its other subsidiaries (the "Massey Defendants") in the Circuit Court of Boone County, West Virginia, alleging that the Massey Defendants tortiously interfered with Wellmore's agreement with Harman, causing Harman to go out of business. On August 1, 2002, the jury awarded the plaintiffs $50 million in compensatory and punitive damages. On October 24, 2006, the Massey Defendants timely filed their Petition for Appeal to the Supreme Court of Appeals of West Virginia ("WV Supreme Court"). On November 21, 2007, the WV Supreme Court issued a 3-2 majority opinion reversing the judgment against the Massey Defendants and remanding the case to the Circuit Court of Boone County with directions to enter an order dismissing the case, with prejudice, in its entirety. The Harman plaintiffs filed motions asking the WV Supreme Court to conduct a rehearing in the case. On January 24, 2008, the WV Supreme Court decided to rehear the case, which was re-argued on March 12, 2008. On April 3, 2008, the WV Supreme Court again reversed the judgment against the Massey Defendants and remanded the case with direction to enter an order dismissing the case, with prejudice, in its entirety. In July 2008, the Harman plaintiffs petitioned the United States Supreme Court (the "U.S. Supreme Court") to review the WV Supreme Court's dismissal of their claims. In December 2008, the U.S. Supreme Court agreed to review the case. The U.S. Supreme Court granted review based on the question of whether a justice of the WV Supreme Court should have recused himself from the appeal. The U.S. Supreme Court found that the justice should have recused himself and ruled on June 8, 2009 that the matter should be reheard by the West Virginia Supreme Court. The West Virginia Supreme Court will rehear the matter on September 8, 2009. We believe the maximum loss exposure related to this matter is approximately $85 million as of June 30, 2009, including post-judgment interest and other costs. We believe a loss is not probable and therefore have not recorded an accrual. It is reasonably possible that our judgments regarding these matters could change in the near term, resulting in the recording of material losses that would affect our operating results and financial position. West Virginia Flooding Since July 2001, we and nine of our subsidiaries have been sued in 17 consolidated civil actions filed in the Circuit Courts of Boone, Fayette, Kanawha, McDowell, Mercer, Raleigh and Wyoming Counties, West Virginia, for alleged property damages and personal injuries arising out of flooding on or about July 8, 2001. Along with 32 other consolidated cases not involving us or our subsidiaries, these cases cover approximately 1,800 plaintiffs seeking unquantified compensatory and punitive damages against approximately 100 defendants. The WV Supreme Court transfer

Document Information

Document Information
	6 Months Ended Jun. 30, 2009 USD / shares
Document Information [Line Items]
Document Type	10-Q
Document Period End Date	2009-06-30
Amendment Flag	false
Amendment Description	none

Entity Information

Entity Information (USD $)
Share data in Millions	6 Months Ended Jun. 30, 2009	Jun. 30, 2008
Entity Information [Line Items]
Entity Registrant Name	Massey Energy Company
Entity Central Index Key	0000037748
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float		$7,571,508,750
Entity Common Stock, Shares Outstanding	85

Uncategorized Items

Uncategorized Items
	1/1/2009 - 6/30/2009
Other Postretirement Benefits Expense	(9) Other Postretirement Benefits Expense Net periodic postretirement benefit cost includes the following components:Three Months EndedSix Months Ended June 30,June 30,2009200820092008(In Thousands)Service cost $920 $777 $1,957 $1,602 Interest cost 2,491 2,072 5,009 4,422 Recognized loss 566 82 1,152 407 Amortization of prior service credit (188) (188) (376) (376)Net periodic postretirement benefit cost $3,789 $2,743 $7,742 $6,055 Payments for benefits related to postretirement benefit cost were $1.8 million and $1.7 million for the three months ended June 30, 2009 and 2008, respectively, and were $3.3 million and $3.1 million for the six months ended June 30, 2009 and 2008, respectively.