Page 99 - New8814 GP 2011_AR-fnl

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F-19
F-19
8. PROPERTY AND EQUIPMENT
The components of property and equipment are as follows (in thousands):
Plant equipment
$ 690,092
$ 621,826
Plant, buildings and improvements
112,895
106,550
Land and improvements
53,647
51,971
Railroad track and equipment
28,225
26,525
Construction-in-progress
5,573
7,918
Computers and software
4,688
4,038
Office furniture and equipment
1,716
1,098
Leasehold improvements and other
5,751
3,558
Total property and equipment
902,587
823,484
Less: accumulated depreciation
(125,798)
(76,063)
Property and equipment, net
$ 776,789
$ 747,421
December 31,
2011
2010
9. DERIVATIVE FINANCIAL INSTRUMENTS
At December 31, 2011, the consolidated balance sheets reflect unrealized losses, net of tax, of $3.0 million in
accumulated other comprehensive loss. The Company expects all of the unrealized losses at December 31, 2011 will be
reclassified into income over the next 12 months as a result of hedged transactions that are forecasted to occur. The amount
ultimately realized in income, however, will differ as commodity prices change.
Fair Values of Derivative Instruments
The following table provides information about the fair values of the Company’s derivative financial instruments and the
line items on the consolidated balance sheets in which the fair values are reflected (in thousands).
Derivative financial instruments (1)
$ 19,022
(2) $
1,470
(3) $
-
$
-
Financing costs and other
-
409
-
-
Accrued and other liabilities
-
-
5,280
2,570
Other liabilities
-
-
137
229
Total
$ 19,022
$
1,879
$
5,417
$
2,799
(1) Derivative financial instruments per the balance sheet include a margin deposit liability of $1.6 million and a margin deposit asset
of $43.4 million at December 31, 2011 and 2010, respectively.
(2) Balance at December 31, 2011, includes $12.2 million of net unrealized gains on derivative financial instruments designated as
cash flow hedging instruments.
(3) Balance at December 31, 2010, includes $477 thousand of net unrealized gains on derivative financial instruments designated as
cash flow hedging instruments.
ConsolidatedBalance Sheet Location
2011
2010
2011
2010
Asset Derivatives
Liability Derivatives
Derivative Instruments
Fair Value at December 31,
Fair Value at December 31,
Refer to
Note 5 - Fair Value Disclosures
, which also contains fair value information related to derivative financial
instruments.