Derivatives, Hedges, Financial Instruments and Carbon Credits (Tables)

3 Months Ended

Mar. 31, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Assets and Liabilities Measured at Fair Value on Recurring Basis

The following details our assets and liabilities that are measured at fair value on a recurring basis at March 31, 2015 and December 31, 2014:


			Fair Value Measurements at March 31, 2015 Using
Description	Total Fair Value at March 31, 2015		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Fair Value at December 31, 2014
	(In Thousands)
Assets - Supplies, prepaid items and other:
Commodities contracts	$	68	$	68	$	—	$	—	$	—
Carbon credits		2,716		—		—		2,716		2,779

Total	$	2,784	$	68	$	—	$	2,716	$	2,779

Liabilities - Current and noncurrent accrued and other liabilities:
Commodities contracts	$	2,696	$	421	$	2,275	$	—	$	2,440
Contractual obligations - carbon credits		2,716		—		—		2,716		2,779
Interest rate contracts		551		—		551		—		671
Foreign exchange contracts		129		—		129		—		44

Total	$	6,092	$	421	$	2,955	$	2,716	$	5,934

Reconciliation of Beginning and Ending Balances for Assets and Liabilities Measured at Fair Value on Recurring Basis

the following is a reconciliation of the beginning and ending balances for assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3):


	Assets						Liabilities
	Three Months Ended						Three Months Ended
	March 31,						March 31,
	2015			2014			2015			2014
	(In Thousands)
Beginning balance	$	2,779		$	1,284		$	(2,779	)	$	(1,284	)
Transfers into Level 3		—			—			—			—
Transfers out of Level 3		—			—			—			—
Total realized and unrealized gains (losses) included in earnings		(30	)		1,925			30			(1,634	)
Purchases		—			—			—			—
Issuances		—			—			—			—
Sales		(33	)		(1,536	)		—			—
Settlements		—			—			33			1,245

Ending balance	$	2,716		$	1,673		$	(2,716	)	$	(1,673	)

Total gains (losses) for the period included in earnings attributed to the change in unrealized gains or losses on assets and liabilities still held at the reporting date	$	—		$	1,004		$	—		$	(1,004	)

Net Gains (Losses) Included in Earnings and Income Statement Classifications

Net gains (losses) included in earnings and the income statement classifications are as follows:


	Three Months Ended
	March 31,
	2015			2014
	(In Thousands)
Total net gains (losses) included in earnings:
Cost of sales - Undesignated commodities contracts	$	(1,978	)	$	2,216
Cost of sales - Undesignated foreign exchange contracts	$	(93	)	$	—
Other income - Carbon credits		(30	)		1,925
Other expense - Contractual obligations relating to carbon credits		30			(1,634	)
Interest expense - Undesignated interest rate contracts		(31	)		(20	)

	$	(2,102	)	$	2,487