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

6 Months Ended

Jun. 30, 2017

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Liabilities Measured at Fair Value on Recurring Basis

The following details our liabilities that are measured at fair value on a recurring basis at June 30, 2017 and December 31, 2016:

						Fair Value Measurements at June 30, 2017 Using
Description (1)		Total Fair Value at June 30, 2017				Quoted Prices in Active Markets for Identical Contracts (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)				Total Fair Value at December 31, 2016
		(In Thousands)
Liabilities - Current and noncurrent accrued and    other liabilities:
Embedded derivative			(3,137	)			—				—				(3,137	)			(2,557	)
Foreign exchange contracts			—				—				—				—				(1	)
Total		$	(3,137	)		$	—			$	—			$	(3,137	)		$	(2,558	)

(1) There were no assets that were measured at fair value on a recurring basis at June 30, 2017 or December 31, 2016.

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

In addition, 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								Three Months Ended								Six Months Ended								Six Months Ended
		June 30,								June 30,								June 30,								June 30,
		2017				2016				2017				2016				2017				2016				2017				2016
		(In Thousands)
Beginning balance		$	867			$	1,214			$	(3,715	)		$	(1,214	)		$	—			$	1,154			$	(2,557	)		$	(1,154	)
Transfers into Level 3			—				—				—				(5,817	)			—				—				—				(5,817	)
Transfers out of Level 3			—				—				—				—				—				—				—				—
Total realized and unrealized gains (losses)    included in operating results			—				—				(109	)			4,209				867				60				(1,267	)			4,149
Purchases			—				—				—				—				—				—				—				—
Issuances			—				—				—				—				—				—				—				—
Sales			(867	)			(1,208	)			—				—				(867	)			(1,208	)			—				—
Settlements			—				—				687				951				—				—				687				951
Ending balance		$	—			$	6			$	(3,137	)		$	(1,871	)		$	—			$	6			$	(3,137	)		$	(1,871	)
Total gains (losses) for the period included    in operating results attributed to the    change in unrealized gains or losses on    assets and liabilities still held at the    reporting date		$	—			$	—			$	(289	)		$	3,952			$	—			$	60				(580	)		$	1,383

Net Gains (Losses) Included in Continuing Operating Results and Statement of Operations Classifications

Net gains (losses) included in continuing operating results and the statement of operations classifications are as follows:

		Three Months Ended								Six Months Ended
		June 30,								June 30,
		2017				2016				2017				2016
		(In Thousands)
Total net gains (losses) included in operating results:
Cost of sales - Undesignated commodities contracts		$	—			$	80			$	—			$	63
Cost of sales - Undesignated foreign exchange contracts			—				(7	)			—				6
Other income - Carbon credits			—				257				867				317
Other expense - Contractual obligations relating to    carbon credits			180				—				(687	)			(60	)
Non-operating other expense - embedded derivative			(289	)			3,952				(580	)			1,443
Total net gains (losses) included in operating results		$	(109	)		$	4,282			$	(400	)		$	1,769

Schedule of Carrying Values and Estimated Fair Values of Financial Instruments

At June 30, 2017 and December 31, 2016, we did not have any financial instruments with fair values significantly different from their carrying amounts (which excludes issuance costs, if applicable), except for the Senior Secured Notes as shown below.

		June 30, 2017								December 31, 2016
		Carrying				Estimated				Carrying				Estimated
		Amount				Fair Value				Amount				Fair Value
		(In Millions)
Senior Secured Notes (1)		$	375			$	380			$	375			$	356

(1) Based on a quoted price of 101.25 at June 30, 2017 and 94.88 at December 31, 2016.

X

- Definition

Tabular disclosure of the fair value measurement of assets and liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized); (2) purchases, sales, issuances, and settlements (net); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs).

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Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class 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). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
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Tabular disclosure of information pertaining to carrying amount and estimated fair value of short-term and long-term debt instruments or arrangements, including but not limited to, identification of terms, features, and collateral requirements.

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- Definition

Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5624171-113959

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