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

9 Months Ended

Sep. 30, 2017

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, 2017 and December 31, 2016:

				Fair Value Measurements at September 30, 2017 Using
Description	Total Fair Value at September 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)
Assets - Supplies, prepaid items and other:
Carbon credits	$	1,164		$	—	$	—	$	1,164		$	—
Total	$	1,164		$	—	$	—	$	1,164		$	—

Liabilities - Current and noncurrent accrued and other liabilities:
Contractual obligations - carbon credits	$	(1,164	)	$	—	$	—	$	(1,164	)	$	—
Embedded derivative		(2,411	)		—		—		(2,411	)		(2,557	)
Foreign exchange contracts		—			—		—		—			(1	)
Total	$	(3,575	)	$	—	$	—	$	(3,575	)	$	(2,558	)

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						Nine Months Ended						Nine Months Ended
	September 30,					September 30,						September 30,						September 30,
	2017		2016			2017			2016			2017			2016			2017			2016
	(In Thousands)
Beginning balance	$	—	$	6		$	(3,137	)	$	(1,871	)	$	—		$	1,154		$	(2,557	)	$	(1,154	)
Transfers into Level 3		—		—			—			—			—			—			—			(5,817	)
Transfers out of Level 3		—		—			—			—			—			—			—			—
Total realized and unrealized gains (losses) included in operating results		1,164		1,196			(438	)		(3,395	)		2,031			1,256			(1,705	)		754
Purchases		—		—			—			—			—			—			—			—
Issuances		—		—			—			—			—			—			—			—
Sales		—		(1,202	)		—			—			(867	)		(2,410	)		—			—
Settlements		—		—			—			2,661			—			—			687			3,612
Ending balance	$	1,164	$	—		$	(3,575	)	$	(2,605	)	$	1,164		$	—		$	(3,575	)	$	(2,605	)

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	$	1,164	$	—		$	(438	)	$	(2,199	)	$	1,164		$	—			(1,018	)	$	(816	)

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						Nine Months Ended
	September 30,						September 30,
	2017			2016			2017			2016
	(In Thousands)
Total net gains (losses) included in operating results:
Cost of sales - Undesignated commodities contracts	$	—		$	18		$	—		$	81
Cost of sales - Undesignated foreign exchange contracts		—			1			—			7
Other income - Carbon credits		1,164			1,196			2,031			1,513
Other expense - Contractual obligations relating to carbon credits		(1,164	)		(922	)		(1,851	)		(982	)
Non-operating other income (expense) - embedded derivative		726			(2,474	)		146			(1,031	)
Total net gains (losses) included in operating results	$	726		$	(2,181	)	$	326		$	(412	)

Schedule of Carrying Values and Estimated Fair Values of Financial Instruments

At September 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.

	September 30, 2017				December 31, 2016
	Carrying		Estimated		Carrying		Estimated
	Amount		Fair Value		Amount		Fair Value
	(In Millions)
Senior Secured Notes (1)	$	375	$	369	$	375	$	356

(1)	Based on a quoted price of 98.50 at September 30, 2017 and 94.88 at December 31, 2016.