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

9 Months Ended

Sep. 30, 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 September 30, 2015 and December 31, 2014:


			Fair Value Measurements at September 30, 2015 Using
Description	Total Fair Value at September 30, 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:
Carbon credits	$	187	$	—	$	—	$	187	$	2,779
Foreign exchange contracts		3		—		3		—		—

Total	$	190	$	—	$	3	$	187	$	2,779


Liabilities - Current and noncurrent accrued and other liabilities:
Commodities contracts	$	915	$	—	$	915	$	—	$	2,440
Contractual obligations - carbon credits		187		—		—		187		2,779
Interest rate contracts		278		—		278		—		671
Foreign exchange contracts		—		—		—		—		44

Total	$	1,380	$	—	$	1,193	$	187	$	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						Assets						Liabilities
	Three Months Ended September 30,					Three Months Ended September 30,						Nine Months Ended September 30,						Nine Months Ended September 30,
	2015			2014		2015			2014			2015			2014			2015			2014
	(In Thousands)
Beginning balance	$	4,049		$	1,673	$	(4,049	)	$	(1,673	)	$	2,779		$	1,284		$	(2,779	)	$	(1,284	)
Transfers into Level 3		—			—		—			—			—			—			—			—
Transfers out of Level 3		—			—		—			—			—			—			—			—
Total net realized and unrealized gains (losses) included in earnings		—			—		904			—			1,334			1,925			(430	)		(1,634	)
Purchases		—			—		—			—			—			—			—			—
Issuances		—			—		—			—			—			—			—			—
Sales		(3,862	)		—		—			—			(3,926	)		(1,536	)		—			—
Settlements		—			—		2,958			—			—			—			3,022			1,245

Ending balance	$	187		$	1,673	$	(187	)	$	(1,673	)	$	187		$	1,673		$	(187	)	$	(1,673	)

Total net 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	$	—		$	—	$	—		$	—		$	177		$	1,004		$	(177	)	$	(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 September 30,						Nine Months Ended September 30,
	2015			2014			2015			2014
	(In Thousands)
Total net gains (losses) included in earnings:
Cost of sales - Undesignated commodities contracts	$	(1,526	)	$	(214	)	$	(3,574	)	$	1,897
Cost of sales - Undesignated foreign exchange contracts		2			—			(62	)		—
Other income - Carbon credits		904			—			2,645			1,925
Other expense - Contractual obligations relating to carbon credits		—			—			(1,741	)		(1,634	)
Interest expense - Undesignated interest rate contracts		(10	)		14			(55	)		(43	)

	$	(630	)	$	(200	)	$	(2,787	)	$	2,145