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Fair Value Measurements (Tables)
3 Months Ended
Mar. 31, 2012
Fair Value Measurements  
Assets and liabilities measured at fair value on a recurring basis

 

 

 

 

 

 

Fair value measurements at reporting date using

 

Description

 

March 31,
2012

 

Quoted
prices in
active
markets for
identical
assets
(Level 1)

 

Significant
other
observable
inputs
(Level 2)

 

Significant
unobservable
inputs
(Level 3)

 

 

 

(Thousands)

 

Assets

 

 

 

 

 

 

 

 

 

Derivative instruments, at fair value

 

$

608,647

 

$

2,077

 

$

450,504

 

$

156,066

 

Total assets

 

$

608,647

 

$

2,077

 

$

450,504

 

$

156,066

 

 

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

 

Derivative instruments, at fair value

 

$

120,044

 

$

2,774

 

$

117,270

 

$

 

Total liabilities

 

$

120,044

 

$

2,774

 

$

117,270

 

$

 

 

 

 

 

 

Fair value measurements at reporting date using

 

Description

 

December 31,
2011

 

Quoted
prices in
active
markets for
identical
assets
(Level 1)

 

Significant
other
observable
inputs
(Level 2)

 

Significant
unobservable
inputs
(Level 3)

 

 

 

(Thousands)

 

Assets

 

 

 

 

 

 

 

 

 

Derivative instruments, at fair value

 

$

512,161

 

$

3,612

 

$

365,238

 

$

143,311

 

Total assets

 

$

512,161

 

$

3,612

 

$

365,238

 

$

143,311

 

 

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

 

Derivative instruments, at fair value

 

$

123,306

 

$

2,727

 

$

120,528

 

$

51

 

Total liabilities

 

$

123,306

 

$

2,727

 

$

120,528

 

$

51

Fair value measurements using significant unobservable inputs (Level 3)

 

 

 

Fair value measurements using significant
unobservable inputs
(Level 3)

 

 

 

Derivative instruments,
at fair value, net
Three months ended
March 31,

 

 

 

2012

 

2011

 

 

 

(Thousands)

 

Balance at January 1

 

$

143,260

 

$

116,672

 

Total gains or losses:

 

 

 

 

 

Included in earnings

 

 

14

 

Included in other comprehensive income

 

31,596

 

(5,831

)

Settlements

 

(18,790

)

(13,491

)

Transfers in and/or out of Level 3

 

 

 

Balance at March 31

 

$

156,066

 

$

97,364