XML 65 R23.htm IDEA: XBRL DOCUMENT v2.4.0.6
Supplemental Financial Data (Unaudited)
 12 Months Ended
Dec. 31, 2011
Supplemental Financial Data [Abstract]  
Supplemental Financial Data (Unaudited)

17.    Supplemental Financial Data (Unaudited)

Shown below are selected unaudited quarterly data.

Selected Quarterly Financial Information

(In thousands, except per unit data)

 

                                 

2011

   First
Quarter		     Second
Quarter		     Third
Quarter		     Fourth
Quarter		  
          (as restated)     (as restated)        

Total revenues

   $ 84,852     $ 96,532     $ 103,164     $ 90,681  

Depreciation, depletion and amortization

   $ 14,322     $ 17,435     $ 19,819     $ 13,542  

Income (loss) from operations

   $ 55,861     $ 68,670     $ (17,796 )    $ (5,054 ) 

Net income (loss)

   $ 45,282     $ 56,206     $ (30,559 )    $ (19,357 ) 

Basic and diluted net income (loss) per limited partner unit

   $ 0.42     $ 0.52     $ (0.28 )    $ (0.18 ) 

Weighted average number of units outstanding:

                                

Common

     106,028       106,028       106,028       106,028  

 

                                 

2010

   First
Quarter		     Second
Quarter		     Third
Quarter		     Fourth
Quarter		  

Total revenues

   $ 63,519     $ 79,588     $ 80,752     $ 77,543  

Income from operations

   $ 40,912     $ 51,953     $ 50,344     $ 52,852  

Net income

   $ 30,191     $ 41,611     $ 40,153     $ 42,506  

Basic and diluted net income per limited partner unit

   $ 0.24     $ 0.38     $ 0.51     $ 0.39  

Weighted average number of units outstanding:

                                

Common

     69,451       74,028       77,896       106,028  

During the Partnership’s third quarter and fourth quarters, asset impairment charges of $90.9 million, or $0.84 per unit, and $70.4 million, or $0.65 per unit, were recorded.

During the preparation of the year-end financial statements, the Partnership determined that $4.0 million, or approximately $0.04 per unit, of deferred revenue related to minimum royalties for which the recoupment period had expired, should have been recorded as revenue in a prior period. Of the $4.0 million, $2.5 million, or $0.02 per unit, related to a prior year and was not material to the current or prior year and therefore was recorded as revenue in the fourth quarter. Of the remaining $1.5 million, $0.7 million and $0.8 million should have been recorded during the second and third quarters of 2011, respectively. The Partnership also determined that an exchange of coal reserves with Williamson Energy, a Cline Group affiliate, occurred during the second quarter but did not get recognized in the accounting records at that time. This exchange resulted in increased revenues and depletion expense in the second quarter, amounting to an increase in net income of $3.2 million, or $0.03 per unit. The exchange also resulted in decreased revenues and increased depletion expense in the third quarter, amounting to a decrease in net income of $2.1 million, or $0.02 per unit. The Partnership adjusted prior quarter amounts in the above table for 2011 by: increasing revenue by $5.1 million in the second quarter and decreasing revenue by $0.6 million in the third quarter; increasing depletion expense by $1.3 million and $0.7 million in the second and third quarters, respectively; and increasing income (loss) from operations and net income in the second quarter by $3.9 million and decreasing income(loss) from operations and net income in the third quarter by $1.3 million. These adjustments were all non-cash items and accordingly did not affect the cash flows of the Partnership.