Annual report pursuant to Section 13 and 15(d)

Financial Instruments (Tables)

v2.4.0.6
Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2011
Financial Instruments [Abstract]  
Fair Value, by Balance Sheet Grouping [Table Text Block]
The following table sets forth, by level within the fair value hierarchy, the fair value of our derivative instruments assets and liabilities at December 31, 2011 (in thousands): 
 
 
Quoted Prices in Active Markets  for Identical Instruments
(Level 1)
 
Significant Other
Observable Inputs
(Level 2)
 
Significant
Unobservable Inputs
(Level 3)
 
Total Carrying
Value
LNG Inventory Derivatives asset (1)
 
$
—

 
$
1,951

 
$
—

 
$
1,951

Fuel Derivatives liability (2)
 
—

 
1,415

 
—

 
1,415

 
 
 
 
 
 
(1)
LNG Inventory Derivatives asset is classified as other current assets on our Consolidated Balance Sheets. Changes in the fair value of LNG Inventory Derivatives are recorded in marketing and trading revenues on our Consolidated Statements of Operations. We recorded marketing and trading revenues of $2.5 million, $2.3 million and $8.6 million related to LNG Inventory Derivatives in the years ended December 31, 2011, 2010 and 2009, respectively.
(2)
Fuel Derivatives liability is classified as other current liabilities on our Consolidated Balance Sheets. Changes in the fair value of Fuel Derivatives are classified as derivative gain (loss) on our Consolidated Statements of Operations. We recorded derivative loss of $2.3 million and derivative gain of $0.5 million and $5.3 million in the years ended December 31, 2011, 2010 and 2009, respectively.
Schedule of Financial Instruments [Table Text Block]
Financial Instruments (in thousands):
 
 
December 31, 2011
 
December 31, 2010
 
 
Carrying
Amount
 
Estimated
Fair Value
 
Carrying
Amount
 
Estimated
Fair Value
2013 Notes (1)
 
$
550,000

 
$
555,500

 
$
550,000

 
$
541,750

2016 Notes, net of discount (1)
 
1,642,418

 
1,650,630

 
1,637,723

 
1,523,082

Convertible Senior Unsecured Notes, net of discount (2)
 
194,724

 
186,740

 
179,129

 
131,660

2007 Term Loan (3)
 
298,000

 
292,728

 
298,000

 
297,464

2008 Loans (4)
 
282,293

 
282,293

 
262,657

 
262,657

 
(1)
The estimated fair value of the Senior Notes, net of discount, was based on quotations obtained from broker-dealers who make markets in these and similar instruments.
(2)
The estimated fair value of our Convertible Senior Unsecured Notes was based on the closing trading prices on December 31, 2011 and 2010, as applicable.