XML 45 R34.htm IDEA: XBRL DOCUMENT
v3.21.2

Fair Value Measurements (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2021
Fair Value Disclosures [Abstract] |
Fair Value Hierarchy Table for Assets and Liabilities Measured at Fair Value | The following tables present the fair value hierarchy for assets and liabilities measured at fair value, on a recurring basis (in thousands):
|  |  | Fair Value Measurements at June 30, 2021 using: |
|  |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |  |  | Total Carrying Value as of June 30, 2021 |
Trading securities held in the deferred compensation plans |  | $ | 66,804 |  |  | $ | — |  |  | $ | — |  |  | $ | 66,804 |
Commodity price derivatives | –swaps |  |  | — |  |  |  | (161,808 | ) |  |  | — |  |  |  | (161,808 | )
| –collars |  |  | — |  |  |  | (31,128 | ) |  |  | (5,814 | ) |  |  | (36,942 | )
| –three-way collars |  |  | — |  |  |  | (62,582 | ) |  |  | — |  |  |  | (62,582 | )
| –basis swaps |  |  | — |  |  |  | 26,063 |  |  |  | — |  |  |  | 26,063 |
| –swaptions |  |  | — |  |  |  | — |  |  |  | (26,414 | ) |  |  | (26,414 | )
Derivatives–freight swaps |  |  |  | — |  |  |  | 37 |  |  |  | — |  |  |  | 37 |
Divestiture contingent consideration |  |  | — |  |  |  | 37,350 |  |  |  | — |  |  |  | 37,350 |
|  |  | Fair Value Measurements at December 31, 2020 using: |
|  |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |  |  | Total Carrying Value as of December 31, 2020 |
Trading securities held in the deferred compensation plans |  | $ | 63,942 |  |  | $ | — |  |  | $ | — |  |  | $ | 63,942 |
Commodity price derivatives | –swaps |  |  | — |  |  |  | 6,642 |  |  |  | — |  |  |  | 6,642 |
| –calls |  |  | — |  |  |  | — |  |  |  | (546 | ) |  |  | (546 | )
| –collars |  |  | — |  |  |  | 7,016 |  |  |  | (3,487 | ) |  |  | 3,529 |
| –three-way collars |  |  | — |  |  |  | (17,818 | ) |  |  | — |  |  |  | (17,818 | )
| –basis swaps |  |  | — |  |  |  | 4,491 |  |  |  | — |  |  |  | 4,491 |
| –swaptions |  |  | — |  |  |  | — |  |  |  | (9,803 | ) |  |  | (9,803 | )
Derivatives–freight swaps |  |  |  | — |  |  |  | 1,104 |  |  |  | — |  |  |  | 1,104 |
Divesture contingent consideration |  |  | — |  |  |  | 15,960 |  |  |  | — |  |  |  | 15,960 |
Reconciliation of the Beginning and Ending Balances for Derivative Instruments Classified as Level 3 in the Fair Value Hierarchy | The following is a reconciliation of the beginning and ending balances for derivative instruments classified as Level 3 in the fair value hierarchy (in thousands):
|  | As of June 30, 2021 |
Balance at December 31, 2020 |  | $ | (13,836 | )
Total losses: |  |  |
Included in earnings |  |  | (7,627 | )
Additions |  |  | (20,515 | )
Settlements |  |  | 5,176 |
Transfers out of Level 3 |  |  | 4,574 |
Balance at June 30, 2021 |  | $ | (32,228 | )
Carrying Amounts and Fair Values of Financial Instruments | The following presents the carrying amounts and the fair values of our financial instruments as of June 30, 2021 and December 31, 2020 (in thousands):
|  | June 30, 2021 |  |  | December 31, 2020 |
|  | Carrying Value |  |  | Fair Value |  |  | Carrying Value |  |  | Fair Value |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Commodity swaps, collars and basis swaps |  | $ | 9,998 |  |  | $ | 9,998 |  |  | $ | 24,052 |  |  | $ | 24,052 |
Divestiture contingent consideration |  |  | 37,350 |  |  |  | 37,350 |  |  |  | 15,960 |  |  |  | 15,960 |
Marketable securities (a) |  |  | 66,804 |  |  |  | 66,804 |  |  |  | 63,942 |  |  |  | 63,942 |
(Liabilities): |  |  |  |  |  |  |  |  |  |  |  |
Commodity swaps, collars and basis swaps |  |  | (271,644 | ) |  |  | (271,644 | ) |  |  | (36,453 | ) |  |  | (36,453 | )
Bank credit facility (b) |  |  | (121,000 | ) |  |  | (121,000 | ) |  |  | (702,000 | ) |  |  | (702,000 | )
5.75% senior notes due 2021 (b) |  |  | — |  |  |  | — |  |  |  | (25,496 | ) |  |  | (25,474 | )
5.00% senior notes due 2022 (b) |  |  | (169,589 | ) |  |  | (173,691 | ) |  |  | (169,589 | ) |  |  | (170,128 | )
5.875% senior notes due 2022 (b) |  |  | (48,528 | ) |  |  | (49,676 | ) |  |  | (48,528 | ) |  |  | (48,471 | )
Other senior notes due 2022 (b) |  |  | — |  |  |  | — |  |  |  | (490 | ) |  |  | (490 | )
5.00% senior notes due 2023 (b) |  |  | (532,335 | ) |  |  | (553,879 | ) |  |  | (532,335 | ) |  |  | (521,699 | )
4.875% senior notes due 2025 (b) |  |  | (750,000 | ) |  |  | (778,718 | ) |  |  | (750,000 | ) |  |  | (707,918 | )
9.25% senior notes due 2026 (b) |  |  | (850,000 | ) |  |  | (937,423 | ) |  |  | (850,000 | ) |  |  | (888,208 | )
8.25% senior notes due 2029 (b) |  |  | (600,000 | ) |  |  | (676,512 | ) |  |  | — |  |  |  | — |
5.75% senior subordinated notes due 2021 (b) |  |  | — |  |  |  | — |  |  |  | (19,896 | ) |  |  | (19,589 | )
5.00% senior subordinated notes due 2022 (b) |  |  | — |  |  |  | — |  |  |  | (9,730 | ) |  |  | (9,247 | )
5.00% senior subordinated notes due 2023 (b) |  |  | — |  |  |  | — |  |  |  | (7,712 | ) |  |  | (6,604 | )
Deferred compensation plan (c) |  |  | (148,205 | ) |  |  | (148,205 | ) |  |  | (96,563 | ) |  |  | (96,563 | )

X
- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=121572278&loc=d3e13467-108611 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19279-110258 + Details
Name: | us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration