v2.4.0.6
Financial Instruments (Tables)
 3 Months Ended
Mar. 31, 2013
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Summary of outstanding fuel hedges
The following table summarizes our outstanding fuel hedges as of March 31, 2013:
 
Year
 
Remaining Gallons Hedged
 
Weighted Average Contract Price per Gallon
2013
 
20,490,000

 
$
3.81

2014
 
27,000,000

 
3.81

2015
 
9,000,000

 
3.73

2016
 
3,000,000

 
3.70
Impact of fuel hedges on results of operations and comprehensive income
The following table summarizes the impact of our fuel hedges on our comprehensive income for the three months ended March 31, 2013 and 2012:
 
Derivatives in Cash Flow Hedging Relationships
 
Amount of Gain (Loss)
Recognized in OCI on
Derivatives
(Effective Portion)
 
 
Three Months Ended March 31,
 
 
2013
 
2012
Fuel hedges
 
$
1.3

 
$
7.7
Costless collar hedges outstanding
The following costless collar hedges were outstanding as of March 31, 2013:
 
 
 
 
 
 
 
Weighted Average
Year
 
Transaction
Hedged
 
Remaining Tons Hedged
 
Floor
Strike Price
Per Short
Ton
 
Cap
Strike Price
Per Short
Ton
2013
 
OCC
 
166,500

 
$
85

 
$
131

2013
 
ONP
 
18,000

 
65

 
90
Impact of commodity hedges on results of operations and comprehensive income
The following table summarizes the impact of our recycling commodity hedges on our comprehensive income for the three months ended March 31, 2013 and 2012:
 
Derivatives in Cash Flow Hedging Relationships
 
Amount of Gain (Loss)
Recognized in
OCI on
Derivatives
(Effective Portion)
 
 
 
Three Months Ended March 31,
 
 
 
2013
 
2012
 
Recycling commodity hedges
 
$
(0.6
)
 
$
(0.3
)
 
Assets and liabilities measured at fair value on a recurring basis
As of March 31, 2013 and December 31, 2012, our assets and liabilities that are measured at fair value on a recurring basis include the following:
 
 
Fair Value Measurements Using
 
Total as of
March 31, 2013
 
Quoted
Prices in
Active
Markets
(Level 1)
 
Significant
Other
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
Assets:
 
 
 
 
 
 
 
Money market mutual funds
$
62.3

 
$
62.3

 
$
—

 
$
—

Bonds
42.2

 
—

 
42.2

 
—

Fuel hedges - other current assets
5.0

 
—

 
5.0

 
—

Commodity hedges - other current assets
0.4

 
—

 
0.4

 
—

Total assets
$
109.9

 
$
62.3

 
$
47.6

 
$
—

Liabilities:
 
 
 
 
 
 
 
Fuel hedges - other accrued liabilities
0.1

 
—

 
0.1

 
—

Commodity hedges - other accrued liabilities
1.7

 
—

 
1.7

 
—

Total liabilities
$
1.8

 
$
—

 
$
1.8

 
$
—


 
Fair Value Measurements Using
 
Total as of December 31, 2012
 
Quoted
Prices in
Active
Markets
(Level 1)
 
Significant
Other
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
Assets:
 
 
 
 
 
 
 
Money market mutual funds
$
62.8

 
$
62.8

 
$
—

 
$
—

Bonds
40.1

 
—

 
40.1

 
—

Fuel hedges - other current assets
3.1

 
—

 
3.1

 
—

Commodity hedges - other current assets
1.0

 
—

 
1.0

 
—

Total assets
$
107.0

 
$
62.8

 
$
44.2

 
$
—

Liabilities:
 
 
 
 
 
 
 
Fuel hedges - other accrued liabilities
$
0.4

 
$
—

 
$
0.4

 
$
—

Commodity hedges - other accrued liabilities
1.2

 
—

 
1.2

 
—

Total liabilities
$
1.6

 
$
—

 
$
1.6

 
$
—