Hallador Energy (HNRG) 10-Q 5 Nov 18 2018 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2018	Nov. 02, 2018
Document and Entity Information [Abstract]
Entity Registrant Name	HALLADOR ENERGY COMPANY
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		30,176,990
Amendment Flag	false
Entity Central Index Key	788,965
Entity Filer Category	Smaller Reporting Accelerated Filer
Document Period End Date	Sep. 30, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q3
Trading Symbol	HNRG

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 16,903	$ 12,483
Restricted cash (Note 8)	4,503	3,811
Certificates of deposit	493	1,495
Marketable securities	1,888	1,907
Accounts receivable	15,938	16,762
Prepaid income taxes	1,244	2,899
Inventory	29,542	12,804
Parts and supplies	10,775	10,043
Prepaid expenses	15,885	9,433
Total current assets	97,171	71,637
Property, plan and equipment, at cost:
Land and mineral rights	130,156	129,724
Buildings and equipment	375,626	356,911
Mine development	140,030	136,762
Total property, plan and equipment, at cost	645,812	623,397
Less - accumulated DD&A	(235,889)	(203,391)
Total property, plant and equipment, net	409,923	420,006
Equity method investments (Note 4)	3,654	11,890
Other assets (Note 5)	15,288	14,660
Total assets	526,036	518,193
Current liabilities:
Current portion of bank debt, net (Note 3)	23,555	33,171
Accounts payable and accrued liabilities (Note 6)	26,671	21,115
Total current liabilities	50,226	54,286
Long-term liabilities:
Bank debt, net (Note 3)	168,462	165,773
Deferred income taxes	28,608	28,728
Asset retirement obligations (ARO)	14,171	13,506
Other	7,184	6,577
Total long-term liabilities	218,425	214,584
Total liabilities	268,651	268,870
Redeemable noncontrolling interests (Note 13)	4,000
Stockholders' equity:
Preferred stock, $.10 par value, 10,000 shares authorized; none issued
Common stock, $.01 par value, 100,000 shares authorized; 30,177 and 29,955 shares outstanding, respectively	301	299
Additional paid-in capital	100,617	97,873
Retained earnings	152,467	150,236
Accumulated other comprehensive income (AOCI)		915
Total stockholders' equity	253,385	249,323
Total liabilities, redeemable noncontrolling interests, and stockholders' equity	$ 526,036	$ 518,193

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares	Sep. 30, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Preferred stock, authorized	10,000,000	10,000,000
Preferred stock, par value (in dollars per share)	$ 0.10	$ 0.10
Preferred stock, issued	0	0
Common stock, shares authorized	100,000,000	100,000,000
Common stock,par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, outstanding	30,177,000	29,955,000

Consolidated Statement of Compr

Consolidated Statement of Comprehensive Income - USD ($) shares in Thousands, $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Revenue:
Coal sales		$ 79,055	$ 73,896	$ 202,764	$ 199,280
Other		667	572	1,065	3,053
Total revenue		79,722	74,468	203,829	202,333
Costs and expenses:
Operating costs and expenses		60,230	54,354	145,744	138,125
DD&A		10,815	9,729	32,764	28,533
ARO accretion		293	219	866	640
Exploration costs		279	152	811	566
SG&A		2,519	2,859	8,883	12,095
Interest	[1]	3,261	3,229	10,284	9,662
Total costs and expenses		77,397	70,542	199,352	189,621
Income before income taxes		2,325	3,926	4,477	12,712
Income tax expense (benefit):
Current		(204)	(2,532)	(426)	(1,158)
Deferred		(385)	2,542	(120)	2,151
Total income tax expense (benefit)		(589)	10	(546)	993
Net income	[2]	$ 2,914	$ 3,916	$ 5,023	$ 11,719
Net income per share (Note 9):
Basic and diluted (in Dollars per share)		$ 0.09	$ 0.13	$ 0.16	$ 0.38
Weighted average shares outstanding:
Basic and diluted (in Shares)		30,177	29,774	30,038	29,603
Net change in the estimated fair value of interest rate swap		$ (708)	$ (36)	$ 136	$ (476)
[1]	Interest expense for the nine months ended September 30, 2018 and 2017 includes $136 and $(476), respectively, for the net change in the estimated fair value of our interest rate swaps. Such amounts were $(708) and $(36) for the three months ended September 30, 2018 and 2017, respectively.
[2]	There is no material difference between net income and comprehensive income.

Condensed Consolidated Statemen

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Dec. 31, 2017	Sep. 30, 2017
Operating activities:
Cash provided by operating activities	$ 30,284	$ 47,998
Investing activities:
Capital expenditures	(25,519)	(21,328)
Proceeds from sale of equipment	64	506
Proceeds from maturities of certificates of deposit	1,000	4,580
Proceeds from sale of equity method investments	8,000
Cash used in investing activities	(16,455)	(16,242)
Financing activities:
Payments on bank debt	(27,280)	(27,875)
Borrowings on bank debt	19,000
Debt issuance cost	(730)
Proceeds from noncontrolling interests (Note 13)	4,000
Dividends	(3,707)	(3,651)
Cash used in financing activities	(8,717)	(31,526)
Increase in cash, cash equivalents, and restricted cash	5,112	230
Cash, cash equivalents, and restricted cash, beginning of period	16,294	12,605
Cash, cash equivalents, and restricted cash, end of period	21,406	12,835
Cash and cash equivalents			$ 16,903	$ 12,483	$ 9,407
Restricted cash			4,503	3,811	3,428
Total cash, cash equivalents, and restricted cash	16,294	$ 12,605	$ 21,406	$ 16,294	$ 12,835
Liabilities assumed	$ 1,100

Consolidated Statement of Stock

Consolidated Statement of Stockholders' Equity - 9 months ended Sep. 30, 2018 - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income [Member]	Total
Balance at Dec. 31, 2017	$ 299	$ 97,873	$ 150,236	$ 915	$ 249,323
Balance (in Shares) at Dec. 31, 2017	29,955
Stock-based compensation		2,755			2,755
Stock issued on vesting of RSUs	$ 2				2
Stock issued on vesting of RSUs (in Shares)	223
Taxes paid on vesting of RSU		(11)			(11)
Taxes paid on vesting of RSU (in Shares)	(1)
Dividends			(3,707)		(3,707)
Net income			5,023		5,023	[1]
Balance at Sep. 30, 2018	$ 301	$ 100,617	152,467		$ 253,385
Balance (in Shares) at Sep. 30, 2018	30,177
Impact from adoption of ASU 2018-02 and ASU 2016-01 (Note 1)			$ 915	$ (915)
[1]	There is no material difference between net income and comprehensive income.

General Business

General Business	9 Months Ended
	Sep. 30, 2018
General Business [Abstract]
General Business	(1) GENERAL BUSINESS  The interim financial data is unaudited; however, in our opinion, it includes all adjustments, consisting only of normal recurring adjustments necessary for a fair statement of the results for the interim periods. The condensed consolidated financial statements included herein have been prepared pursuant to the SEC’s rules and regulations; accordingly, certain information and footnote disclosures normally included in GAAP financial statements have been condensed or omitted.  The results of operati ons and cash flows for the three and nine months ended September 30 , 2018 are not necessarily indicative of the results to be expected for future quarters or for the year ending December 31, 2018. To maintain consistency and comparability , certain 2017 amounts have been reclassified to conform to the 2018 presentation.  Our organization and business, the accounting policies we follow and other information, are contained in the notes to our condensed consolidated financial statements filed as part of our 2017 Form 10-K. This quarterly report should be read in conjunction with such 10-K.  The condensed consolidated financial statements include the accounts of Hallador Energy Company (hereinafter known as , “we, us, or our”) and its wholly-owned subsidiaries Sunrise Coal, LLC (Sunrise) and Hourglass Sands, LLC (Hourglass), and Sunrise’s wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated . Sunrise is engaged in the production of steam coal from mines located in western Indiana. Hourglass is in the development stage and is engaged in the production of frac sand in the State of Colorado (see Note 13).  New Accounting Standards Issued and Adopted  In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers.” ASU 2014-09 is a comprehensive revenue recognition standard that supersedes nearly all existing revenue recognition guidance under current U.S. GAAP and replaces it with a principle-based approach for determining revenue recognition. On January 1, 2018, we adopted the new accounting standard and all of the related amendments to all contracts using the modified retrospective method. Adoption of the new revenue standard did not result in a material cumulative effect adjustment to the opening balance of retained earnings. The comparative information has not been restated and continues to be reported under the accounting standards in effect for those periods. We do not expect the adoption of the new revenue standard to have a material impact to our net income on an ongoing basis. See “ Note 12 – Revenue ” to these condensed consolidated f inancial statements for additional disclosures.  In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments (Topic 825): Recognition and Measurement of Financial Assets and Financial Liabilities. ASU 2016-01 requires equity investments that are not accounted for under the equity method of accounting or that do not result in consolidation of the investee to be measured at fair value with changes recognized in net earnings. ASU 2016-01 also eliminates the available-for- sale classification for equity investments that recognized changes in fair value as a component of other comprehensive income. We adopted ASU 2016-01 on January 1, 2018, using the modified retrospective method, which resulted in a $1.1 million (net of tax) cumulative-effect adjustment from accumulated other comprehensive income to retained earnings. Adoption of ASU 2016-01 did not have a material impact on our results of operations and/or cash flows.  In November 2016, the FASB issued guidance regarding the presentation of restricted cash in the statement of cash flows (ASU 2016-18). This update is effective for annual reporting periods beginning after December 15, 2017, and early adoption is permitted. We have adopted the new standard as of January 1, 2018. Adoption of ASU 2016-18 did not have a material impact on the company’s results of operations and/or cash flows.  In January 2017, the FASB issued new guidance to assist in determining if a set of assets and activities being acquired or sold is a business (ASU 2017-01). It also provided a framework to assist entities in evaluating whether both an input and a substantive process are present, which at a minimum, must be present to be considered a business. We have adopted the new standard as of January 1, 2018. The standard does not have an impact on our historical recognition of asset acquisitions and business combinations. However, we expect there may be an impact on how we account for such acquisitions in the future.  In February 2018, the FASB issued ASU 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. ASU 2018-02 allows companies to reclassify stranded tax effects resulting from the 2017 Tax Act from accumulated other comprehensive income to retained earnings. The company elected to early adopt ASU 2018-02 on January 1, 2018, which resulted in a reclassification of $192,000 of stranded tax effects, related to our unrealized gain on marketable securities, from accumulated other comprehensive income to retained earnings. Adoption of ASU 2018-02 did not have a material impact on our results of operations and/or cash flows.  New Accounting Standards Issued and Not Yet Adopted  In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) (ASU 2016-02). ASU 2016-02 increases transparency and comparability among organizations by requiring lessees to record right-to-use assets and corresponding lease liabilities on the balance sheet and disclosing key information about lease arrangements. The new guidance will classify leases as either finance or operating (similar to current standard’s “capital” or “operating” classification), with classification affecting the pattern of income recognition in the statement of income. ASU 2016-02 is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years, with early adoption permitted. We are currently in the process of accumulating all contractual lease arrangements in order to determine the impact on our financial statements and do not believe we have significant amounts of off-balance sheet leases; accordingly, we do not expect the adoption of ASU 2016-02 to have a material impact on our condensed consolidated financial statements. We continue to monitor closely the activities of the FASB and various non-authoritative groups with respect to implementation issues that could affect our evaluation.

Asset Impairment Review

Asset Impairment Review	9 Months Ended
	Sep. 30, 2018
Asset Impairment Review [Abstract]
Asset Impairment Review	(2 ) ASSET IMPAIRMENT REVIEW  Carlisle Mine In July 2018 , we restarted production at the Carlisle Mine and began shipping coal to customers. We conducted a review of the Carlisle Mine assets as of September 30, 2018, based on estimated future net cash flows, and determined that no impairment to the aggregate net carrying value of $1 05 million was necessary. If , in future periods , we reduce our estimate of the future net cash flows attributable to the Carlisle Mine, it may result in future impairment of such assets and such charges could be significant.  Bulldog Reserves In October 2017, we entered into an agreement to sell land associated with the Bulldog Mine for $4.9 million . As part of the transaction, we hold the rights to repurchase the property for eight years at the original sale price of $4.9 million plus interest. We are accounting for the sale as a financing transaction with the liability recorded in other long-term liabilities. The Bulldog Mine assets had an aggregate net carrying value of $15 million at September 30, 2018. Also, in October 2017, the Illinois Department of Natural Resources (ILDNR) notified us that our mine application, along with modifications, was acceptable. In October 2018, we paid the required fee and bond and the permit is expected to be issued prior to December 31, 2018. We have determined that no impairment is necessary. If estimates inherent in the assessment change, it may result in future impairment of the assets.

Bank Debt

Bank Debt	9 Months Ended
	Sep. 30, 2018
Bank Debt [Abstract]
Bank Debt	 (3) BANK DEBT  On May 21, 2018, we executed the Third Amended and Restated Credit Agreement with PNC, as administrative agent for our lenders. The $267 million credit facility is a combination of a $147 million term loan and $120 million revolver. The credit facility extends the term through May 21, 2022 , reduces the debt service requirements, changes the borrower from Sunrise Coal to Hallador, and allows for investments in Hourglass Sands. The credit facility is collateralized primarily by Hallador’s assets . Our borrowing capacity increased by $6 million as of the effective date of the amended agreement.  Liquidity  Our bank debt at September 30, 2018, w as $ 200 million (term - $ 136 million, revolver - $64 million) . As of September 30 , 2018, we had additional borrowing capacit y of $56 million and total liquidity of $ 75 million.  Fees  Bank fees and other costs incurred in connection with the amended credit agreement and unamortized costs incurred in connection with the initial facility and a subsequent amendment totale d $ 8.8 million. These costs were d eferred and are being amortized over the term of the loan. Unamortized costs as of September 30, 2018 and December 31, 2017 were $8.0 million and $3.0 million, respectively.  Covenants  The credit facility includes a Maximum Leverage Ratio (consolidated funded debt / trailing twelve months adjusted EBITDA), calculated as of the end of each fiscal quarter for the trailing twelve months, not to exceed the amounts below:  Fiscal Periods Ending Ratio  September 30, 2018 through March 31, 2019 3.75 to 1.00  June 30, 2019 and September 30, 2019 3.50 to 1.00  December 31, 2019 through September 30, 2020 3.25 to 1.00  December 31, 2020 through September 30, 2021 3.00 to 1.00  December 31, 2021 and each fiscal quarter thereafter 2.75 to 1.00   The credit facility also requires a Minimum Debt Service Coverage Ratio (consolidated adjusted EBITDA / annual debt service) calculated as of the end of each fiscal quarter for the trailing twelve months of 1.25 to 1 through the maturity of the credit facility.  At September 30 , 2018, our Leverage Ratio was 2.73 , and our Debt Service Coverage Ratio was 2.12 . Th erefore, we were in compliance with those two ratios .  Rate  The interest rate on the facility ranges from LIBOR plus 3.00% to LIBOR plus 4.50% , depending on our Leverage Ratio. We entered into swap agreements to fix the LIBOR component of the interest rate to achieve an effective fixed rate of ~6% on the original term loan balance and on $ 53 million of the revolver. At September 30, 2018, we are paying LIBOR of 2. 26 % plus 4.00% for a total interest rate of 6.26% .  Bank debt, less debt issuance costs, is presented below (in thousands):     September 30, December 31,  2018 2017  Current debt $ 25,725 $ 35,000  Less debt issuance cost (2,170) (1,829)  Net current portion $ 23,555 $ 33,171   Long-term debt $ 174,250 $ 166,992  Less debt issuance cost (5,788) (1,219)  Net long-term portion $ 168,462 $ 165,773  

Equity Method Investments

Equity Method Investments	9 Months Ended
	Sep. 30, 2018
Equity Method Investments [Abstract]
Equity Method Investments	 (4) EQUITY METHOD INVESTMENTS  Savoy Energy, L.P.  On March 9, 2018 , we sold our entire 30.6% partnership interest to Savoy for $8 million. The carrying value of the investment included in our consolidated balance sheets as of December 31, 2017, was $8.0 mi llion. Our net proceeds were $7.5 m illion after commissions paid to a related party, which were applied to our bank debt as required under the agreement. The sale resulted in a loss of $538,000 for the three months an d nine months ended March 31, 2018 and September 30, 2018 , respectively.  Sunrise Energy, LLC  We own a 50% interest in Sunrise Energy, LLC, which owns gas reserves and gathering equipment with plans to develop and operate such reserves. Sunrise Energy also plans to develop and explore for oil, gas and coal-bed methane gas reserves on or near our underground coal reserves. The carrying value of the investment included in our consolidated balance sheets as of September 30, 2018, and December 31, 2017, was $3. 7 million and $3.9 million, respectively.

Other Assets

Other Assets	9 Months Ended
	Sep. 30, 2018
Other Assets [Abstract]
Other Assets	(5) OTHER ASSETS (in thousands)    September 30, December 31,  2018 2017  Advanced coal royalties $ 10,600 $ 9,720  Marketable equity securities at fair value (restricted)* 2,089 2,148  Other 2,599 2,792  Total other assets $ 15,288 $ 14,660  ____________________ * Held by Sunrise Indemnity, Inc., our wholly-owned captive insurance company .

Accounts Payable and Accrued Li

Accounts Payable and Accrued Liabilities	9 Months Ended
	Sep. 30, 2018
Accounts Payable and Accrued Liabilities [Abstract]
Accounts Payable and Accrued Liabilities	(6) ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (in thousands)    September 30, December 31,  2018 2017  Accounts payable $ 5,215 $ 4,008  Goods received not yet invoiced 5,114 5,574  Accrued property taxes 3,170 2,751  Workers' compensation 4,541 2,969  Other 8,631 5,813  Total accounts payable and accrued liabilities $ 26,671 $ 21,115  

Other Income

Other Income	9 Months Ended
	Sep. 30, 2018
Other Income [Abstract]
Other Income	(7) OTHER INCOME (in thousands)     Nine Months Ended Three Months Ended  September 30, September 30,  2018 2017 2018 2017  Equity income - Savoy $ - $ 409 $ - $ 153  Equity income (loss) - Sunrise Energy (198) 18 (42) 16  Loss on disposal of Savoy (538) - - -  MSHA reimbursements 833 1,725 180 89  Other 968 901 529 314  Total other income $ 1,065 $ 3,053 $ 667 $ 572   

Self-Insurance

Self-Insurance	9 Months Ended
	Sep. 30, 2018
Self-Insurance [Abstract]
Self-Insurance	(8) SELF-INSURANCE  We self-i nsure our underground mining equipment. Such equipment is allocated among e leven mining units spread out over 18 miles. The historical cost of such equipment was approximately $269 million and $258 million as of September 30, 2018 and December 31, 2017, respectively.  Restricted cash of $4. 5 million and $3.8 milli on as of September 30, 2018 and December 31, 2017, respectively, represents cash held and controlled by a third party and is restricted for future workers’ compensation claim payments.

Net Income per Share

Net Income per Share	9 Months Ended
	Sep. 30, 2018
Net Income per Share [Abstract]
Net Income per Share	(9) NET INCOME PER SHARE  We compute net income per share using the two-class method, which is an allocation formula that determines net income per share for common stock and participating securities, which for us are our outstanding RSUs. The following table sets forth the computation of net income allocated to common shareholders (in thousands):    Nine Months Ended Three Months Ended  September 30, September 30,  2018 2017 2018 2017  Numerator:  Net income $ 5,023 $ 11,719 $ 2,914 $ 3,916  Earnings allocated to RSUs (116) (444) (67) (153)  Net income allocated to common shareholders $ 4,907 $ 11,275 $ 2,847 $ 3,763  

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2018
Income Taxes [Abstract]
Income Taxes	(10) INCOME TAXES  For interim period reporting, we record income taxes using an estimated annual effective tax rate based upon projected annual income, forecasted permanent tax differences, discrete items and statutory rates in states in which we operate. Our effective tax rate for the nine months ended September 30, 2018 and September 30, 2017 was (12)% and 8% , respectively. Historically, our actual effective tax rates have differed from the statutory effective rate primarily due to the benefit received from statutory percentage depletion in excess of tax basis . The deduction for statutory percentage depletion does not necessarily change proportionately to changes in income before income taxes. 

Restricted Stock Units (RSUs)

Restricted Stock Units (RSUs)	9 Months Ended
	Sep. 30, 2018
Restricted Stock Units (RSUs) [Abstract]
Restricted Stock Units (RSUs)	(11 ) RESTRICTED STOCK UNITS (RSUs)   Non-vested grants at December 31, 2017 944,500  Granted -  Vested - weighted average share price on vesting date was $6.65 (223,500 )  Forfeited (10,000 )  Non-vested grants at September 30, 2018 711,000   The 223,500 shares that vested during the nine months ended September 30, 2018, had a value of $ 1.5 million. Under our RSU plan, participants are allowed to relinquish shares to pay for their required statutory income taxes.  For the nine months ended September 30, 2018, and 2017, o ur stock-based compensation was $2. 8 million and $ 6.4 million, respectively. For the three months ended September 30, 2018 and 2017, our stock - based compensation was $0.4 million and $1.0 million, respectively.  Non-vested RSU grants will vest as follows:   Vesting RSUs Year Vesting  2018 121,250  2019 307,250  2020 176,250  2021 106,250  711,000  The outstanding RSUs have a value of $4.4 million based on the September 2 8 , 2018 , closing stock price of $6.22 .  At September 30, 2018, we had 1,404, 325 RSUs available for future issuance.

Revenue

Revenue	9 Months Ended
	Sep. 30, 2018
Revenue [Abstract]
Revenue	( 12) REVENUE  Effective January 1, 2018, we adopted ASU 2014-09. The adoption of this standard did not impact the timing of revenue recognition on our consolidated balance sheets or condensed consolidated statements of comprehensive income.  Revenue from Contracts with Customers  We account for a contract with a customer when the parties have approved the contract and are committed to performing their respective obligations, the rights of each party are identified , payment terms are identified , the contract has commercial substance, and collectability of consideration is probable. We recognize revenue when we satisfy a performance obligation by transferring control of a good or service to a customer.  Our revenue is derived from sales to customers of coal produced at our facilities. Our customers purchase coal directly from our mine sites and our Princeton Loop, where the sale occurs and where title , risk of loss, and control typically pass to the customer at that point. Our customers arrange for and bear the costs of transporting their coal from our mines to their plants or other specified discharge points. Our customers are typically domestic utility companies. Our coal sales agreements with our customers are fixed-priced , fixed-volume supply contracts, or include a predetermined escalation in price for each year. Price re-opener and index provisions may allow either party to commence a renegotiation of the contract price at a pre-determined time. Price re-opener provisions may automatically set a new price based on prevailing market price or, in some instances, require us to negotiate a new price, sometimes within specified ranges of prices. The terms of our coal sales agreements result from competitive bidding and extensive negotiations with customers. Consequently, the terms of these contracts vary by customer.  Coal sales agreements will typically contain coal quality specifications. With coal quality specifications in place, the raw coal sold by us to the customer at the delivery point must be substantially free of magnetic material and other foreign material impurities and crushed to a maximum size as set forth in the respective coal sales agreement. Price adjustments are made and billed in the month the coal sale was recognized based on quality standards that are specified in the coal sales agreement, such as Btu factor, moisture, ash, and sulfur content and can result in either increases or decreases in the value of the coal shipped.  Disaggregation of Revenue  Revenue is disaggregated by primary geographic markets, as we believe this best depicts how the nature, amount, timing, and uncertainty of our revenue and cash flows are affected by economic factors. 74% and 77% of our coal revenue for the nine months and three months ending September 30, 2018, respectively, was sold to customers in the State of Indiana with the remainder sold to customers in Kentucky, North Carolina, and Florida. 65% and 61% of our coal revenue for the nine months and three months ending September 30, 2017, respectively, was sold to customers in the State of Indiana with the remainder sold to customers in Kentucky and Florida.  Performance Obligations  A performance obligation is a promise in a contract with a customer to provide distinct goods or services. Performance obligations are the unit of account for purposes of applying the revenue recognition standard and therefore determine when and how revenue is recognized. In most of our contracts, the customer contracts with us to provide coal that meets certain quality criteria. We consider each ton of coal a separate performance obligation and allocate the transaction price based on the base price per the contract, increased or decreased for quality adjustments.  We recognize revenue at a point in time as the customer does not have control over the asset at any point during the fulfillment of the contract. For substantially all of our customers, this is supported by the fact that title and risk of loss transfer to the customer upon loading of the railcar at the mine. This is also the point at which physical possession of the coal transfers to the customer, as well as the significant risks and rewards in ownership of the coal.  We have remaining performance obligations relating to fixed priced contracts of approximately $6 29 million, which represent the average fixed prices on our committed contracts as of September 30, 2018. We expect to recognize approximately 5 4 % of this revenue through 2019 , with the remainder recognized thereafter . We have remaining performance obligations relating to index priced contracts or contracts with price reopeners of approximately $330 million, which represents our estimate of the expected re-opener/indexed price on committed contracts as of September 30, 2018. We expect to recognize all of this income beginning in 2020 .  The tons used to determine the remaining performance obligations are subject to adjustment in instances of force majeure and exercise of customer options to either take additional tons or reduce tonnage if such option exists in the customer contract.  Contract Balances  Under ASC 606, the timing of when a performance obligation is satisfied can affect the presentation of accounts receivable, contract assets, and contract liabilities. The main distinction between accounts receivable and contract assets is whether consideration is conditional on something other than the passage of time. A receivable is an entity’s right to consideration that is unconditional. Under the typical payment terms of our contracts with customers, the customer pays us a base price for the coal, increased or decreased for any quality adjustments. Amounts billed and due are recorded as trade accounts receivable and included in accounts receivable in our consolidated balance sheets. We do not currently have any contracts in place where we would transfer coal in advance of knowing the final price of the coal sold, and thus do not have any contract assets recorded. Contract liabilities arise when consideration is received in advance of performance . This deferred revenue is included in accounts payable and accrued liabilities in our consolidated balance sheets when consideration is received, and revenue is not recognized until the performance obligation is satisfied. We are rarely paid in advance of performance and do not currently have any deferred revenue recorded in our consolidated balance sheets. 

Hourglass Sands

Hourglass Sands	9 Months Ended
	Sep. 30, 2018
Hourglass Sands [Abstract]
Hourglass Sands	(13) HOURGLASS SANDS  In February 2018 , we invested $4 million in Hourglass Sands, LLC (Hourglass), a permitted frac sand mining company in the State of Colorado. We own 100% of the Class A units and are consolidating the activity of Hourglass in these statements. Class A units are entitled to 100% of profit until our capital investment and interest is returned , then 90% of profits are allocated to us with remainder to Class B units. We do not own any Class B units.  In February 2018 , a Yorktown company associated with one of our directors also invested $4 million in Hourglass in return for a royalty interest in Hourglass. This investment coupled with our $4 million investment brings the initial capitalization of Hourglass to $8 million. We report the royalty interest as a redeemable noncontrolling interest i n the consolidated balance sheets. A representative of the Yorktown company holds a seat on the board of managers, and, with a change of control, the Yorktown company may be entitled to receive a portion of the net proceeds realized, as prescribed in the Hourglass operating agreement.  Below is a condensed Hourglass balance sheet as of September 30, 2018 and a condensed statement of operations for the nine months ended September 30, 2018. Current assets include cash totaling $4.2 million and sand inventory totaling $0.8 million. Expenses are included in operating costs and expenses, exploration costs, and SG&A in our consolidated statements of comprehensive income.     Condensed Balance Sheet   Current assets $ 5,054  Property and equipment 2,575  Total assets $ 7,629   Total liabilities $ 500  Redeemable noncontrolling interests 4,000  Members' equity 3,129  Total liabilities and equity $ 7,629     Condensed Statement of Operations  Revenue $ 36  Expenses 907  Net loss $ (871)  

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2018
Subsequent Events [Abstract]
Subsequent Events	(14) SUBSEQUENT EVENTS  On October 15, 2018 , we declared a dividend of $.04 per share to shareholders of record as of October 31, 2018 . The dividend is payable on November 16, 2018 . 

Bank Debt (Tables)

Bank Debt (Tables)	9 Months Ended
	Sep. 30, 2018
Bank Debt [Abstract]
Amended Credit Facility Maximum Leverage Ratio	The credit facility includes a Maximum Leverage Ratio (consolidated funded debt / trailing twelve months adjusted EBITDA), calculated as of the end of each fiscal quarter for the trailing twelve months, not to exceed the amounts below:  Fiscal Periods Ending Ratio  September 30, 2018 through March 31, 2019 3.75 to 1.00  June 30, 2019 and September 30, 2019 3.50 to 1.00  December 31, 2019 through September 30, 2020 3.25 to 1.00  December 31, 2020 through September 30, 2021 3.00 to 1.00  December 31, 2021 and each fiscal quarter thereafter 2.75 to 1.00  
Schedule of Debt	Bank debt, less debt issuance costs, is presented below (in thousands):     September 30, December 31,  2018 2017  Current debt $ 25,725 $ 35,000  Less debt issuance cost (2,170) (1,829)  Net current portion $ 23,555 $ 33,171   Long-term debt $ 174,250 $ 166,992  Less debt issuance cost (5,788) (1,219)  Net long-term portion $ 168,462 $ 165,773  

Other Assets (Tables)

Other Assets (Tables)	9 Months Ended
	Sep. 30, 2018
Other Assets [Abstract]
Schedule of Long-Term Assets	OTHER ASSETS (in thousands)    September 30, December 31,  2018 2017  Advanced coal royalties $ 10,600 $ 9,720  Marketable equity securities at fair value (restricted)* 2,089 2,148  Other 2,599 2,792  Total other assets $ 15,288 $ 14,660  ____________________ * Held by Sunrise Indemnity, Inc., our wholly-owned captive insurance company

Accounts Payable and Accrued _2

Accounts Payable and Accrued Liabilities (Tables)	9 Months Ended
	Sep. 30, 2018
Accounts Payable and Accrued Liabilities [Abstract]
Schedule of Accounts Payable and Accrued Liabilities	ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (in thousands)    September 30, December 31,  2018 2017  Accounts payable $ 5,215 $ 4,008  Goods received not yet invoiced 5,114 5,574  Accrued property taxes 3,170 2,751  Workers' compensation 4,541 2,969  Other 8,631 5,813  Total accounts payable and accrued liabilities $ 26,671 $ 21,115 

Other Income (Tables)

Other Income (Tables)	9 Months Ended
	Sep. 30, 2018
Other Income [Abstract]
Schedule of Other Income	OTHER INCOME (in thousands)     Nine Months Ended Three Months Ended  September 30, September 30,  2018 2017 2018 2017  Equity income - Savoy $ - $ 409 $ - $ 153  Equity income (loss) - Sunrise Energy (198) 18 (42) 16  Loss on disposal of Savoy (538) - - -  MSHA reimbursements 833 1,725 180 89  Other 968 901 529 314  Total other income $ 1,065 $ 3,053 $ 667 $ 572  

Net Income per Share (Tables)

Net Income per Share (Tables)	9 Months Ended
	Sep. 30, 2018
Net Income per Share [Abstract]
Computation of Earnings per Share	The following table sets forth the computation of net income allocated to common shareholders (in thousands):    Nine Months Ended Three Months Ended  September 30, September 30,  2018 2017 2018 2017  Numerator:  Net income $ 5,023 $ 11,719 $ 2,914 $ 3,916  Earnings allocated to RSUs (116) (444) (67) (153)  Net income allocated to common shareholders $ 4,907 $ 11,275 $ 2,847 $ 3,763 

Restricted Stock Units (RSUs) (

Restricted Stock Units (RSUs) (Tables)	9 Months Ended
	Sep. 30, 2018
Restricted Stock Units (RSUs) [Abstract]
Schedule of Restricted Stock Units	 Non-vested grants at December 31, 2017 944,500  Granted -  Vested - weighted average share price on vesting date was $6.65 (223,500 )  Forfeited (10,000 )  Non-vested grants at September 30, 2018 711,000  
Schedule of Nonvested Share Vesting Activity	Non-vested RSU grants will vest as follows:   Vesting RSUs Year Vesting  2018 121,250  2019 307,250  2020 176,250  2021 106,250  711,000 

Hourglass Sands (Tables)

Hourglass Sands (Tables) - Hourglass Sands, LLC [Member]	9 Months Ended
	Sep. 30, 2018
Business Acquisition [Line Items]
Condensed Balance Sheet	    Condensed Balance Sheet   Current assets $ 5,054  Property and equipment 2,575  Total assets $ 7,629   Total liabilities $ 500  Redeemable noncontrolling interests 4,000  Members' equity 3,129  Total liabilities and equity $ 7,629 
Condensed Statement of Operations	  Condensed Statement of Operations  Revenue $ 36  Expenses 907  Net loss $ (871) 

General Business (Details)

General Business (Details)	Jan. 01, 2018USD ($)
Accounting Standards Update 2016-01 [Member]
Impact from adoption of ASU	$ 1,100,000
Accounting Standards Update 2018 02 [Member]
Impact from adoption of ASU	$ 192,000

Asset Impairment Review (Narrat

Asset Impairment Review (Narrative) (Details) - USD ($) $ in Thousands	1 Months Ended	9 Months Ended
	Oct. 31, 2017	Sep. 30, 2018
Carlisle Assets [Member]
Impairment Effects on Earnings Per Share [Line Items]
Mine carrying value		$ 105,000
Asset impairment charge		0
Bulldog Mine [Member]
Impairment Effects on Earnings Per Share [Line Items]
Asset impairment charge		0
Land buy-back option period	8 years
Proceeds from sale of land	$ 4,900
Aggregate net carrying value of land		$ 15,000

Bank Debt (Narrative) (Details)

Bank Debt (Narrative) (Details) - USD ($) $ in Millions	1 Months Ended	9 Months Ended
	May 31, 2018	Sep. 30, 2018	May 21, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Debt, interest rate spread on variable rate		4.00%
Debt instrument, interest rate, effective percentage		6.26%
Leverage ratio		273.00%
Debt service coverage ratio		212.00%
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Amount of debt with maximum interest rate		$ 53
Credit Agreement [Member]
Debt Instrument [Line Items]
Closing costs of debt		8.8
Deferred financing costs expensed		8		$ 3
Credit agreement, amount outstanding		200	$ 267
Debt, unused borrowing capacity		56
Liquidity		$ 75
Debt instrument, interest rate, effective percentage		6.00%
Credit Agreement [Member] | Minimum [Member]
Debt Instrument [Line Items]
Debt service coverage ratio		125.00%
Credit Agreement [Member] | London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member]
Debt Instrument [Line Items]
Debt, interest rate spread on variable rate		3.00%
Credit Agreement [Member] | London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt, interest rate spread on variable rate		4.50%
Credit Agreement [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Credit agreement, amount outstanding		$ 64	120
Credit facility, maximum borrowing capacity increase during period	$ 6
Debt maturity date		May 21, 2022
Term Loan [Member] | Credit Agreement [Member]
Debt Instrument [Line Items]
Credit agreement, amount outstanding		$ 136	$ 147

Bank Debt (Amended Credit Facil

Bank Debt (Amended Credit Facility Maximum Leverage Ratio) (Details)	Sep. 30, 2018
Line of Credit Facility [Line Items]
Leverage Ratio	273.00%
Maximum [Member] | September 30, 2018 through March 31, 2019
Line of Credit Facility [Line Items]
Leverage Ratio	375.00%
Maximum [Member] | June 30, 2018 and September 30, 2019 [Member]
Line of Credit Facility [Line Items]
Leverage Ratio	350.00%
Maximum [Member] | December 31, 2019 through September 30, 2020 [Member]
Line of Credit Facility [Line Items]
Leverage Ratio	325.00%
Maximum [Member] | December 31, 2020 through September 30, 2021
Line of Credit Facility [Line Items]
Leverage Ratio	300.00%
Maximum [Member] | December 31, 2021 and each fiscal quarter thereafter [Member]
Line of Credit Facility [Line Items]
Leverage Ratio	275.00%

Bank Debt (Schedule of Debt) (D

Bank Debt (Schedule of Debt) (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Bank Debt [Abstract]
Current debt	$ 25,725	$ 35,000
Less debt issuance cost, current	(2,170)	(1,829)
Net current portion	23,555	33,171
Long-term debt	174,250	166,992
Less debt issuance cost, long-term	(5,788)	(1,219)
Net long-term portion	$ 168,462	$ 165,773

Equity Method Investments (Narr

Equity Method Investments (Narrative) (Details) - USD ($) $ in Thousands	Mar. 09, 2018	Mar. 31, 2018	Mar. 31, 2018	Sep. 30, 2018	Dec. 31, 2017
Equity method investment				$ 3,654	$ 11,890
Sunrise Energy [Member]
Equity method investment ownership percentage				50.00%
Equity method investment				$ 3,700	3,900
Savoy [Member]
Sale of stock, transaction date				Mar. 9, 2018
Ownership interest percentage before sale of stock	30.60%
Cash received after equity investment sale of stock		$ 7,500
Gain (loss) on sale of equity method investment			$ (538)	$ (538)
Value of equity method investment sold in period		$ 8,000
Equity method investment					$ 8,000

Other Assets (Schedule of Other

Other Assets (Schedule of Other Long-Term Assets) (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Long-term assets:
Advance coal royalties	$ 10,600	$ 9,720
Marketable equity securities at fair value (restricted)	2,089	2,148
Other	2,599	2,792
Total other assets	$ 15,288	$ 14,660

Accounts Payable and Accrued _3

Accounts Payable and Accrued Liabilities (Schedule of Accounts Payable and Accrued Liabilities) (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Accounts Payable and Accrued Liabilities [Abstract]
Accounts payable	$ 5,215	$ 4,008
Goods received not yet invoiced	5,114	5,574
Accrued property taxes	3,170	2,751
Workers' compensation	4,541	2,969
Other	8,631	5,813
Total accounts payable and accrued liabilities	$ 26,671	$ 21,115

Other Income (Schedule of Other

Other Income (Schedule of Other Income) (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2018	Mar. 31, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Other income:
MSHA reimbursement	$ 180		$ 89	$ 833	$ 1,725
Other	529		314	968	901
Total other income	667		572	1,065	3,053
Savoy [Member]
Other income:
Equity income (loss)			153		409
Loss on disposal of equity method investment		$ (538)		(538)
Sunrise Energy [Member]
Other income:
Equity income (loss)	$ (42)		$ 16	$ (198)	$ 18

Self-Insurance (Details)

Self-Insurance (Details) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2018USD ($)sitemi	Dec. 31, 2017USD ($)	Sep. 30, 2017USD ($)
Self-Insurance [Abstract]
Number of mining units with self-insured equipment | site	11
Area of self-insured mining units | mi	18
Historical cost of self-insured equipment	$ 269,000	$ 258,000
Restricted cash	$ 4,503	$ 3,811	$ 3,428

Net Income per Share (Details)

Net Income per Share (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Net Income per Share [Abstract]
Net income	[1]	$ 2,914	$ 3,916	$ 5,023	$ 11,719
Earnings allocated to RSUs		(67)	(153)	(116)	(444)
Net income available to common shareholders		$ 2,847	$ 3,763	$ 4,907	$ 11,275
[1]	There is no material difference between net income and comprehensive income.

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details)	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Income Taxes [Abstract]
Effective tax rate	(12.00%)	8.00%

Restricted Stock Units (RSUs)_2

Restricted Stock Units (RSUs) (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Sep. 28, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	$ 400	$ 1,000	$ 2,755	$ 6,400
Share price					$ 6.22
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for future issuance	1,404,325		1,404,325
Shares vested in period			223,500
Value of shares vested in period			$ 1,500
Value of outstanding shares					$ 4,400

Restricted Stock Units (RSUs)_3

Restricted Stock Units (RSUs) (Schedule of Restricted Stock Units) (Details) - Restricted Stock Units (RSUs) [Member]	9 Months Ended
	Sep. 30, 2018$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-vested grants, beginning balance	944,500
Granted
Vested - weighted average share price on vesting date was $6.65	(223,500)
Forfeited	(10,000)
Non-vested grants, ending balance	711,000
Share price on vesting date | $ / shares	$ 6.65

Restricted Stock Units (RSUs)_4

Restricted Stock Units (RSUs) (Schedule of Nonvested Share Vesting Activity) (Details) - Restricted Stock Units (RSUs) [Member]	Sep. 30, 2018shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting in future period	711,000
2018 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting in future period	121,250
2019 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting in future period	307,250
2020 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting in future period	176,250
2021 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting in future period	106,250

Revenue (Narrative) (Details)

Revenue (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Fixed-price Contract [Member]
Disaggregation of Revenue [Line Items]
Performance obligation	$ 629		$ 629
Percentage of revenue expected to be recognized by set date	54.00%		54.00%
Revenue, remaining performance obligation, expected timing of satisfaction, year			2,019
Revenue, remaining performance obligation, expected timing of satisfaction, explanation			We expect to recognize approximately 54% of this revenue through 2019, with the remainder recognized thereafter.
Index Priced Contracts [Member]
Disaggregation of Revenue [Line Items]
Performance obligation	$ 330		$ 330
Revenue, remaining performance obligation, expected timing of satisfaction, year			2,020
Revenue, remaining performance obligation, expected timing of satisfaction, explanation			We expect to recognize all of this income beginning in 2020.
Sales Revenue, Net [Member] | Indiana [Member]
Disaggregation of Revenue [Line Items]
Percentage of revenue	77.00%	61.00%	74.00%	65.00%

Hourglass Sands (Narrative) (De

Hourglass Sands (Narrative) (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Feb. 28, 2018	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Business Acquisition [Line Items]
Operating costs and expenses		$ 60,230	$ 54,354	$ 145,744	$ 138,125
Cash and cash equivalents		$ 16,903	$ 9,407	$ 16,903	$ 9,407	$ 12,483
Hourglass [Member]
Business Acquisition [Line Items]
Percentage of profit after capital investment and interest is returned		90.00%		90.00%
Capitalization		$ 8,000		$ 8,000
Hourglass [Member] | Director [Member]
Business Acquisition [Line Items]
Business acquisition purchase price	$ 4,000
Capital Unit, Class A [Member] | Hourglass [Member]
Business Acquisition [Line Items]
Percentage of profit until capital investment and interest is returned		100.00%		100.00%
Hourglass Sands, LLC [Member]
Business Acquisition [Line Items]
Date of acquisition agreement				Feb. 1, 2018
Business acquisition purchase price	$ 4,000
Cash and cash equivalents		$ 4,200		$ 4,200
Sand inventory		$ 800		$ 800
Hourglass Sands, LLC [Member] | Hourglass [Member] | Director [Member]
Business Acquisition [Line Items]
Date of acquisition agreement				Feb. 1, 2018
Hourglass Sands, LLC [Member] | Capital Unit, Class A [Member] | Hourglass [Member]
Business Acquisition [Line Items]
Equity method investment ownership percentage		100.00%		100.00%

Hourglass Sands (Condensed Bala

Hourglass Sands (Condensed Balance Sheet) (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Business Acquisition [Line Items]
Current assets	$ 97,171	$ 71,637
Total assets	526,036	518,193
Total liabilities	268,651	268,870
Redeemable noncontrolling interests	4,000
Total liabilities, redeemable noncontrolling interests, and stockholders' equity	526,036	$ 518,193
Hourglass Sands, LLC [Member]
Business Acquisition [Line Items]
Current assets	5,054
Property and equipment	2,575
Total assets	7,629
Total liabilities	500
Redeemable noncontrolling interests	4,000
Members' equity	3,129
Total liabilities, redeemable noncontrolling interests, and stockholders' equity	$ 7,629

Hourglass Sands (Condensed Stat

Hourglass Sands (Condensed Statement of Operations) (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Business Acquisition [Line Items]
Revenue		$ 79,722	$ 74,468	$ 203,829	$ 202,333
Expenses		77,397	70,542	199,352	189,621
Net income	[1]	$ 2,914	$ 3,916	5,023	$ 11,719
Hourglass Sands, LLC [Member]
Business Acquisition [Line Items]
Revenue				36
Expenses				907
Net income				$ (871)
[1]	There is no material difference between net income and comprehensive income.

Subsequent Events (Narrative) (

Subsequent Events (Narrative) (Details) - Subsequent Event [Member]	Oct. 15, 2018$ / shares
Subsequent Event [Line Items]
Dividends payable, date declared	Oct. 15, 2018
Dividends payable, amount per share	$ 0.04
Dividends payable, date of record	Oct. 31, 2018
Dividends payable, date to be paid	Nov. 16, 2018

Uncategorized Items - hnrg-2018

Label	Element	Value
Debt Issuance Costs Incurred During Noncash or Partial Noncash Transaction	us-gaap_DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction	$ 5,700,000