x
|
QUARTERLY REPORT PURSUANT TO
SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
|
¨
|
TRANSITION REPORT PURSUANT TO
SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
|
Delaware
|
20-2641185
|
|
(State or Other Jurisdiction
of
Incorporation or
Organization)
|
(I.R.S.
Employer
Identification
No.)
|
300 Corporate Centre
Drive
Scott Depot, West
Virginia
|
25560
|
|
(Address of Principal Executive
Offices)
|
(Zip
Code)
|
|
|
Page
|
||
|
|
|||
Item 1.
|
|
|
3
|
|
Item 2.
|
|
|
16
|
|
Item 3.
|
|
|
30
|
|
Item 4.
|
|
|
31
|
|
|
|
|||
Item 1.
|
|
|
31
|
|
Item 1A.
|
|
|
32
|
|
Item 6.
|
|
|
33
|
Item 1.
|
Financial
Statements
|
|
September 30,
2008
|
December 31,
2007
|
||||||
ASSETS
|
|
|||||||
CURRENT
ASSETS:
|
|
|||||||
Cash and cash
equivalents
|
|
$
|
62,222
|
$
|
107,150
|
|||
Accounts receivable, net of
allowances of $0 and $539
|
|
118,092
|
83,765
|
|||||
Inventories,
net
|
|
48,627
|
40,679
|
|||||
Deferred income
taxes
|
|
8,224
|
5,000
|
|||||
Prepaid
insurance
|
|
3,862
|
10,618
|
|||||
Income taxes
receivable
|
|
8,854
|
8,854
|
|||||
Prepaid expenses and
other
|
|
13,035
|
9,138
|
|||||
Total current
assets
|
|
262,916
|
265,204
|
|||||
PROPERTY, PLANT, EQUIPMENT AND
MINE DEVELOPMENT, net
|
|
1,044,610
|
974,334
|
|||||
DEBT ISSUANCE COSTS,
net
|
|
11,531
|
13,466
|
|||||
ADVANCE ROYALTIES,
net
|
|
12,600
|
14,661
|
|||||
GOODWILL
|
|
30,237
|
30,237
|
|||||
OTHER NON-CURRENT
ASSETS
|
|
5,548
|
5,661
|
|||||
Total
assets
|
|
$
|
1,367,442
|
$
|
1,303,563
|
|||
|
||||||||
LIABILITIES AND STOCKHOLDERS’
EQUITY
|
|
|||||||
CURRENT
LIABILITIES:
|
|
|||||||
Accounts
payable
|
|
$
|
74,858
|
$
|
70,042
|
|||
Current portion of long-term
debt
|
|
7,404
|
4,234
|
|||||
Current portion of reclamation and
mine closure costs
|
|
6,327
|
7,333
|
|||||
Current portion of employee
benefits
|
|
2,925
|
2,925
|
|||||
Accrued expenses and
other
|
|
76,347
|
62,723
|
|||||
Total current
liabilities
|
|
167,861
|
147,257
|
|||||
LONG-TERM
DEBT
|
|
418,392
|
408,096
|
|||||
RECLAMATION AND MINE CLOSURE
COSTS
|
|
79,060
|
78,587
|
|||||
EMPLOYEE
BENEFITS
|
|
62,162
|
55,132
|
|||||
DEFERRED INCOME
TAXES
|
|
57,494
|
52,355
|
|||||
BELOW-MARKET COAL SUPPLY
AGREEMENTS
|
|
46,397
|
39,668
|
|||||
OTHER NON-CURRENT
LIABILITIES
|
|
5,234
|
8,062
|
|||||
Total
liabilities
|
|
836,600
|
789,157
|
|||||
MINORITY
INTEREST
|
|
38
|
35
|
|||||
COMMITMENTS AND
CONTINGENCIES
|
|
—
|
—
|
|||||
STOCKHOLDERS’
EQUITY:
|
|
|||||||
Preferred stock – par value $0.01, 200,000,000 shares
authorized, none issued
|
|
—
|
—
|
|||||
Common stock – par value $0.01, 2,000,000,000
shares authorized,
153,298,842 and
152,992,109 shares, respectively, issued and
outstanding
|
|
1,533
|
1,530
|
|||||
Additional paid-in
capital
|
|
643,089
|
639,160
|
|||||
Accumulated other comprehensive
loss
|
|
(5,702
|
)
|
(5,903
|
)
|
|||
Retained
deficit
|
|
(108,116
|
)
|
(120,416
|
)
|
|||
Total stockholders’
equity
|
|
530,804
|
514,371
|
|||||
Total liabilities and
stockholders’ equity
|
|
$
|
1,367,442
|
$
|
1,303,563
|
|
Three months
ended
September 30,
|
Nine months ended
September 30,
|
||||||||||||||
|
2008
|
2007
|
2008
|
2007
|
||||||||||||
REVENUES:
|
|
|||||||||||||||
Coal sales
revenues
|
|
$
|
282,250
|
$
|
191,088
|
$
|
761,963
|
$
|
592,081
|
|||||||
Freight and handling
revenues
|
|
12,339
|
5,044
|
35,492
|
14,645
|
|||||||||||
Other
revenues
|
|
14,610
|
11,697
|
41,554
|
37,467
|
|||||||||||
Total
revenues
|
|
309,199
|
207,829
|
839,009
|
644,193
|
|||||||||||
COSTS AND
EXPENSES:
|
|
|||||||||||||||
Cost of coal
sales
|
|
240,204
|
188,356
|
666,598
|
557,787
|
|||||||||||
Freight and handling
costs
|
|
12,339
|
5,044
|
35,492
|
14,645
|
|||||||||||
Cost of other
revenues
|
|
9,690
|
7,600
|
27,847
|
27,139
|
|||||||||||
Depreciation, depletion and
amortization
|
|
24,227
|
23,017
|
70,878
|
65,987
|
|||||||||||
Selling, general and
administrative
|
|
8,396
|
9,026
|
27,051
|
25,868
|
|||||||||||
Gain on sale of assets,
net
|
|
(6,383
|
)
|
(35,444
|
)
|
(32,675
|
)
|
(37,798
|
)
|
|||||||
Total costs and
expenses
|
|
288,473
|
197,599
|
795,191
|
653,628
|
|||||||||||
Income (loss) from
operations
|
|
20,726
|
10,230
|
43,818
|
(9,435
|
)
|
||||||||||
INTEREST AND OTHER INCOME
(EXPENSE):
|
|
|||||||||||||||
Interest expense,
net
|
|
(8,837
|
)
|
(14,434
|
)
|
(29,019
|
)
|
(26,635
|
)
|
|||||||
Other, net
|
|
—
|
429
|
—
|
1,301
|
|||||||||||
Total interest and other income
(expense)
|
|
(8,837
|
)
|
(14,005
|
)
|
(29,019
|
)
|
(25,334
|
)
|
|||||||
Income (loss) before income
taxes and minority interest
|
|
11,889
|
(3,775
|
)
|
14,799
|
(34,769
|
)
|
|||||||||
INCOME TAX (EXPENSE)
BENEFIT
|
|
(2,183
|
)
|
2,355
|
(2,496
|
)
|
14,672
|
|||||||||
MINORITY
INTEREST
|
|
2
|
137
|
(3
|
)
|
512
|
||||||||||
Net income
(loss)
|
|
$
|
9,708
|
$
|
(1,283
|
)
|
$
|
12,300
|
$
|
(19,585
|
)
|
|||||
|
||||||||||||||||
Earnings per
share:
|
|
|||||||||||||||
Basic
|
|
$
|
0.06
|
$
|
(0.01
|
)
|
$
|
0.08
|
$
|
(0.13
|
)
|
|||||
Diluted
|
|
$
|
0.06
|
$
|
(0.01
|
)
|
$
|
0.08
|
$
|
(0.13
|
)
|
|||||
Weighted-average common shares
outstanding:
|
|
|||||||||||||||
Basic
|
|
152,761,955
|
152,413,924
|
152,587,831
|
152,262,828
|
|||||||||||
Diluted
|
|
153,025,680
|
152,413,924
|
152,745,474
|
152,262,828
|
|
Nine months ended
September 30,
|
|||||||
|
2008
|
2007
|
||||||
CASH FLOWS FROM OPERATING
ACTIVITIES:
|
|
|||||||
Net income
(loss)
|
|
$
|
12,300
|
$
|
(19,585
|
)
|
||
Adjustments to reconcile net
income (loss) to net cash from operating
activities:
|
|
|||||||
Depreciation, depletion and
amortization
|
|
70,878
|
65,987
|
|||||
Amortization of deferred finance
costs included in interest expense
|
|
2,123
|
7,579
|
|||||
Minority
interest
|
|
3
|
(512
|
)
|
||||
Compensation expense on restricted
stock and options
|
|
3,216
|
3,769
|
|||||
Gain on sale of assets,
net
|
|
(32,675
|
)
|
(37,798
|
)
|
|||
Deferred income
taxes
|
|
2,360
|
(21,029
|
)
|
||||
Provision for bad
debt
|
|
(522
|
)
|
503
|
||||
Amortization of accumulated
postretirement benefit obligation
|
|
323
|
213
|
|||||
Changes in assets and
liabilities:
|
|
|||||||
Accounts
receivable
|
|
(33,337
|
)
|
1,650
|
||||
Inventories
|
|
(7,172
|
)
|
(4,385
|
)
|
|||
Prepaid expenses and
other
|
|
3,007
|
15,222
|
|||||
Other non-current
assets
|
|
1,969
|
(1,346
|
)
|
||||
Accounts
payable
|
|
5,625
|
2,643
|
|||||
Accrued expenses and
other
|
|
13,492
|
7,710
|
|||||
Reclamation and mine closure
costs
|
|
(1,961
|
)
|
3,181
|
||||
Other
liabilities
|
|
4,202
|
5,160
|
|||||
Net cash from operating
activities
|
|
43,831
|
28,962
|
|||||
CASH FLOWS FROM INVESTING
ACTIVITIES:
|
|
|||||||
Proceeds from the sale of
assets
|
|
8,688
|
44,992
|
|||||
Additions to property, plant,
equipment and mine development
|
|
(92,995
|
)
|
(123,817
|
)
|
|||
Cash paid related to acquisitions
and net assets acquired
|
|
(603
|
)
|
(11,773
|
)
|
|||
Withdrawals of restricted
cash
|
|
18
|
440
|
|||||
Net cash from investing
activities
|
|
(84,892
|
)
|
(90,158
|
)
|
|||
CASH FLOWS FROM FINANCING
ACTIVITIES:
|
|
|||||||
Borrowings on short-term
debt
|
|
—
|
26,082
|
|||||
Repayments on short-term
debt
|
|
—
|
(44,830
|
)
|
||||
Borrowings on long-term
debt
|
|
—
|
65,000
|
|||||
Repayments on long-term
debt
|
|
(3,828
|
)
|
(67,514
|
)
|
|||
Proceeds from senior notes
offering
|
—
|
225,000
|
||||||
Proceeds from stock options
exercised
|
149
|
—
|
||||||
Debt issuance
costs
|
|
(188
|
)
|
(9,328
|
)
|
|||
Net cash from financing
activities
|
|
(3,867
|
)
|
194,410
|
||||
NET CHANGE IN CASH AND CASH
EQUIVALENTS
|
|
(44,928
|
)
|
133,214
|
||||
CASH AND CASH EQUIVALENTS,
BEGINNING OF PERIOD
|
|
107,150
|
18,742
|
|||||
CASH AND CASH EQUIVALENTS, END OF
PERIOD
|
|
$
|
62,222
|
$
|
151,956
|
|||
|
||||||||
Supplemental
information:
|
|
|||||||
Cash paid for interest (net of
amount capitalized)
|
|
$
|
35,859
|
$
|
21,290
|
|||
Cash received for income taxes,
net
|
|
$
|
—
|
$
|
774
|
|||
Supplemental disclosure of
non-cash items:
|
|
|||||||
Purchases of property, plant,
equipment and mine development through accounts
payable
|
|
$
|
13,481
|
$
|
2,465
|
|||
Purchases of property, plant,
equipment and mine development through financing
arrangements
|
|
$
|
17,294
|
$
|
10,971
|
|||
Assets acquired through the
assumption of liabilities
|
|
$
|
17,464
|
$
|
1,586
|
|||
Assets acquired through the
exchange of property
|
|
$
|
22,608
|
$
|
—
|
|
September 30,
2008
|
December 31,
2007
|
||||||
Coal
|
|
$
|
21,415
|
$
|
19,855
|
|||
Parts and
supplies
|
|
28,664
|
21,602
|
|||||
Reserve for obsolescence–parts and
supplies
|
|
(1,452
|
)
|
(778
|
)
|
|||
Total
|
|
$
|
48,627
|
$
|
40,679
|
|
September 30,
2008
|
December 31,
2007
|
||||||
Coal lands and mineral
rights
|
|
$
|
586,534
|
$
|
594,034
|
|||
Plant and
equipment
|
|
524,022
|
442,530
|
|||||
Mine
development
|
|
178,302
|
133,181
|
|||||
Land and land
improvements
|
|
23,562
|
20,889
|
|||||
Coalbed methane well development
costs
|
|
14,965
|
14,276
|
|||||
|
1,327,385
|
1,204,910
|
||||||
Less–accumulated depreciation,
depletion and amortization
|
|
(282,775
|
)
|
(230,576
|
)
|
|||
Net property, plant, equipment and
mine development
|
|
$
|
1,044,610
|
$
|
974,334
|
|
September 30,
2008
|
December 31,
2007
|
||||||
9.00% Convertible Senior Notes,
due 2012
|
|
$
|
225,000
|
$
|
225,000
|
|||
10.25% Senior Notes, due
2014
|
|
175,000
|
175,000
|
|||||
Equipment
notes
|
|
25,796
|
12,330
|
|||||
Total
|
|
425,796
|
412,330
|
|||||
Less current
portion
|
|
(7,404
|
)
|
(4,234
|
)
|
|||
Long-term
debt
|
|
$
|
418,392
|
$
|
408,096
|
Three months ended
September 30,
|
Nine months ended
September 30,
|
|||||||||||||||
2008
|
2007
|
2008
|
2007
|
|||||||||||||
Net periodic benefit
cost:
|
||||||||||||||||
Service
cost
|
$ | 651 | $ | 514 | $ | 1,955 | $ | 1,542 | ||||||||
Interest
cost
|
407 | 263 | 1,220 | 789 | ||||||||||||
Amortization of net
loss
|
107 | 71 | 322 | 213 | ||||||||||||
Benefit
cost
|
$ | 1,165 | $ | 848 | $ | 3,497 | $ | 2,544 |
•
|
Level 1 –
|
Unadjusted quoted prices for
identical assets or liabilities in active
markets.
|
||
•
|
Level 2 –
|
Inputs other than Level 1 that are
based on observable market data, either directly or indirectly. These
include quoted prices for similar assets or liabilities in active markets,
quoted prices for identical assets or liabilities in inactive markets,
inputs that are observable that are not prices and inputs that are derived
from or corroborated by observable markets.
|
||
•
|
Level 3 –
|
Developed from unobservable data,
reflecting an entity’s own
assumptions.
|
Fair Value Measurements Using:
|
||||||||||||||||
Description
|
September 30,
2008
|
Quoted Prices
in
Active
Markets
for
Identical
Assets
(Level 1)
|
Significant
Other
Observable
Inputs
(Level 2)
|
Significant
Unobservable
Inputs
(Level 3)
|
||||||||||||
Interest Rate Collar
Agreement
|
$ | 1,246 | $ | — | $ | 1,246 | $ | — |
Three months
ended
September 30,
|
Nine months ended
September 30,
|
|||||||||||||||
2008
|
2007
|
2008
|
2007
|
|||||||||||||
Net income
(loss)
|
$ | 9,708 | $ | (1,283 | ) | $ | 12,300 | $ | (19,585 | ) | ||||||
Weighted-average common shares
outstanding—basic
|
152,761,955 | 152,413,924 | 152,587,831 | 152,262,828 | ||||||||||||
Incremental shares arising from
stock options
|
172,624 | — | 27,249 | — | ||||||||||||
Incremental shares arising from
restricted shares
|
91,101 | — | 130,394 | — | ||||||||||||
Weighted-average common shares
outstanding—diluted
|
153,025,680 | 152,413,924 | 152,745,474 | 152,262,828 | ||||||||||||
Earnings Per
Share:
|
||||||||||||||||
Basic
|
$ | 0.06 | $ | (0.01 | ) | $ | 0.08 | $ | (0.13 | ) | ||||||
Diluted
|
$ | 0.06 | $ | (0.01 | ) | $ | 0.08 | $ | (0.13 | ) |
Central
Appalachian
|
Northern
Appalachian
|
Illinois
Basin
|
Ancillary
|
Consolidated
|
||||||||||||||||
Revenue
|
$ | 207,452 | $ | 57,589 | $ | 21,114 | $ | 23,044 | $ | 309,199 | ||||||||||
Adjusted
EBITDA
|
36,779 | 3,796 | 3,924 | 454 | 44,953 | |||||||||||||||
Depreciation, depletion and
amortization
|
16,004 | 5,078 | 1,658 | 1,487 | 24,227 | |||||||||||||||
Capital
expenditures
|
32,741 | 9,420 | 2,898 | 1,270 | 46,329 | |||||||||||||||
Total
assets
|
743,324 | 186,255 | 35,831 | 402,032 | 1,367,442 | |||||||||||||||
Goodwill
|
— | — | — | 30,237 | 30,237 |
Central
Appalachian
|
Northern
Appalachian
|
Illinois
Basin
|
Ancillary
|
Consolidated
|
||||||||||||||||
Revenue
|
$ | 135,623 | $ | 32,565 | $ | 17,706 | $ | 21,935 | $ | 207,829 | ||||||||||
Adjusted
EBITDA
|
7,391 | (8,233 | ) | 3,790 | 30,728 | 33,676 | ||||||||||||||
Depreciation, depletion and
amortization
|
14,917 | 3,204 | 1,436 | 3,460 | 23,017 | |||||||||||||||
Capital
expenditures
|
35,405 | 8,021 | 688 | 664 | 44,778 | |||||||||||||||
Total
assets
|
811,540 | 161,306 | 39,505 | 498,277 | 1,510,628 | |||||||||||||||
Goodwill
|
169,601 | — | — | 30,095 | 199,696 |
Central
Appalachian
|
Northern
Appalachian
|
Illinois
Basin
|
Ancillary
|
Consolidated
|
||||||||||||||||
Revenue
|
$ | 536,956 | $ | 172,923 | $ | 60,399 | $ | 68,731 | $ | 839,009 | ||||||||||
Adjusted
EBITDA
|
98,924 | 15,321 | 10,167 | (9,716 | ) | 114,696 | ||||||||||||||
Depreciation, depletion and
amortization
|
47,569 | 12,639 | 5,420 | 5,250 | 70,878 | |||||||||||||||
Capital
expenditures
|
71,159 | 31,074 | 3,474 | 4,812 | 110,519 | |||||||||||||||
Total
assets
|
743,324 | 186,255 | 35,831 | 402,032 | 1,367,442 | |||||||||||||||
Goodwill
|
— | — | — | 30,237 | 30,237 |
Central
Appalachian
|
Northern
Appalachian
|
Illinois
Basin
|
Ancillary
|
Consolidated
|
||||||||||||||||
Revenue
|
$ | 399,472 | $ | 96,897 | $ | 52,537 | $ | 95,287 | $ | 644,193 | ||||||||||
Adjusted
EBITDA
|
41,163 | (21,772 | ) | 11,217 | 27,245 | 57,853 | ||||||||||||||
Depreciation, depletion and
amortization
|
45,604 | 7,419 | 4,625 | 8,339 | 65,987 | |||||||||||||||
Capital
expenditures
|
100,678 | 31,885 | 1,627 | 12,365 | 146,555 | |||||||||||||||
Total
assets
|
811,540 | 161,306 | 39,505 | 498,277 | 1,510,628 | |||||||||||||||
Goodwill
|
169,601 | — | — | 30,095 | 199,696 |
Three months
ended
September 30,
|
Nine months ended
September 30,
|
|||||||||||||||
2008
|
2007
|
2008
|
2007
|
|||||||||||||
Net income
(loss)
|
$ | 9,708 | $ | (1,283 | ) | $ | 12,300 | $ | (19,585 | ) | ||||||
Depreciation, depletion and
amortization
|
24,227 | 23,017 | 70,878 | 65,987 | ||||||||||||
Interest expense,
net
|
8,837 | 14,434 | 29,019 | 26,635 | ||||||||||||
Income tax expense
(benefit)
|
2,183 | (2,355 | ) | 2,496 | (14,672 | ) | ||||||||||
Minority
interest
|
(2 | ) | (137 | ) | 3 | (512 | ) | |||||||||
Adjusted
EBITDA
|
$ | 44,953 | $ | 33,676 | $ | 114,696 | $ | 57,853 |
Item 2.
|
Management’s
Discussion and Analysis of Financial Condition and Results of
Operations
|
•
|
market demand for coal,
electricity and steel;
|
•
|
availability of qualified
workers;
|
•
|
future economic or capital market
conditions;
|
•
|
weather conditions or catastrophic
weather-related damage;
|
•
|
our production
capabilities;
|
•
|
consummation of financing,
acquisition or disposition transactions and the effect thereof on our
business;
|
•
|
a significant number of
conversions of our Convertible Senior Notes prior to
maturity;
|
•
|
our plans and objectives for
future operations and expansion or
consolidation;
|
•
|
our relationships with, and other
conditions affecting, our customers;
|
•
|
availability and costs of key
supplies or commodities such as diesel fuel, steel, explosives and
tires;
|
•
|
availability and costs of capital
equipment;
|
•
|
prices of fuels which compete with
or impact coal usage, such as oil and natural
gas;
|
•
|
timing of reductions or increases
in customer coal inventories;
|
•
|
long-term coal supply
arrangements;
|
•
|
risks in or related to coal mining
operations, including risks relating to third-party suppliers and carriers
operating at our mines or complexes;
|
•
|
unexpected maintenance and
equipment failure;
|
•
|
environmental, safety and other
laws and regulations, including those directly affecting our coal mining
and production, and those affecting our customers’ coal
usage;
|
•
|
ability to obtain and maintain all
necessary governmental permits and
authorizations;
|
•
|
competition among coal and other
energy producers in the United States and
internationally;
|
•
|
railroad, barge, trucking and
other transportation availability, performance and
costs;
|
•
|
employee benefits costs and labor
relations issues;
|
•
|
replacement of our
reserves;
|
•
|
our assumptions concerning
economically recoverable coal reserve estimates;
|
•
|
availability and costs of credit,
surety bonds and letters of credit;
|
•
|
title defects or loss of leasehold
interests in our properties which could result in unanticipated costs or
inability to mine these properties;
|
•
|
future legislation and changes in
regulations or governmental policies or changes in interpretations
thereof, including with respect to safety enhancements and environmental
initiatives relating to global warming;
|
•
|
impairment of the value of our
goodwill and long-lived assets;
|
•
|
ongoing effects of the Sago mine
accident;
|
•
|
our liquidity, results of
operations and financial condition;
|
•
|
adequacy and sufficiency of our
internal controls; and
|
•
|
legal and administrative
proceedings, settlements, investigations and claims and the availability
of related insurance
coverage.
|
Three months
ended
September 30,
|
Increase
(Decrease)
|
|||||||||||||||
2008
|
2007
|
$ or Tons
|
%
|
|||||||||||||
(in thousands, except percentages and per ton data)
|
||||||||||||||||
Coal sales
revenues
|
$ | 282,250 | $ | 191,088 | $ | 91,162 | 48 | % | ||||||||
Freight and handling
revenues
|
12,339 | 5,044 | 7,295 | 145 | % | |||||||||||
Other
revenues
|
14,610 | 11,697 | 2,913 | 25 | % | |||||||||||
Total
revenues
|
$ | 309,199 | $ | 207,829 | $ | 101,370 | 49 | % | ||||||||
Tons
sold
|
4,794 | 4,518 | 276 | 6 | % | |||||||||||
Coal
sales revenue per ton
|
$ | 58.87 | $ | 42.29 | $ | 16.58 | 39 | % |
Three months
ended
September 30,
|
Increase
(Decrease)
|
|||||||||||||||
2008
|
2007
|
$ |
%
|
|||||||||||||
(in thousands, except percentages)
|
||||||||||||||||
Central
Appalachian
|
$ | 198,812 | $ | 133,621 | $ | 65,191 | 49 | % | ||||||||
Northern
Appalachian
|
52,531 | 29,734 | 22,797 | 77 | % | |||||||||||
Illinois Basin
|
18,530 | 15,742 | 2,788 | 18 | % | |||||||||||
Ancillary
|
12,377 | 11,991 | 386 | 3 | % | |||||||||||
Total coal sales
revenues
|
$ | 282,250 | $ | 191,088 | $ | 91,162 | 48 | % |
Three months ended
September 30,
|
Increase
(Decrease)
|
|||||||||||||||
|
2008
|
2007
|
Tons
|
%
|
||||||||||||
(in thousands, except percentages)
|
||||||||||||||||
Central
Appalachian
|
3,022 | 2,906 | 116 | 4 | % | |||||||||||
Northern
Appalachian
|
918 | 795 | 123 | 15 | % | |||||||||||
Illinois Basin
|
619 | 525 | 94 | 18 | % | |||||||||||
Ancillary
|
235 | 292 | (57 | ) | (20 | )% | ||||||||||
Total tons
sold
|
4,794 | 4,518 | 276 | 6 | % |
Three months
ended
September 30,
|
Increase
(Decrease)
|
|||||||||||||||
2008
|
2007
|
$
|
%
|
|||||||||||||
(in thousands, except percentages and per ton data)
|
||||||||||||||||
Cost of coal
sales
|
$ | 240,204 | $ | 188,356 | $ | 51,848 | 28 | % | ||||||||
Freight and handling
costs
|
12,339 | 5,044 | 7,295 | 145 | % | |||||||||||
Cost of other
revenues
|
9,690 | 7,600 | 2,090 | 28 | % | |||||||||||
Depreciation, depletion and
amortization
|
24,227 | 23,017 | 1,210 | 5 | % | |||||||||||
Selling, general and
administrative expenses
|
8,396 | 9,026 | (630 | ) | (7 | )% | ||||||||||
Gain on sale of
assets
|
(6,383 | ) | (35,444 | ) | 29,061 | 82 | % | |||||||||
Total costs and
expenses
|
$ | 288,473 | $ | 197,599 | $ | 90,874 | 46 | % | ||||||||
Cost of coal sales per ton
sold
|
$ | 50.10 | $ | 41.69 | $ | 8.41 | 20 | % |
Three months
ended
September 30,
|
Increase
(Decrease)
|
|||||||||||||||
2008
|
2007
|
$
|
%
|
|||||||||||||
(in thousands, except percentages)
|
||||||||||||||||
Central
Appalachian
|
$ | 164,193 | $ | 125,896 | $ | 38,297 | 30 | % | ||||||||
Northern
Appalachian
|
50,494 | 37,967 | 12,527 | 33 | % | |||||||||||
Illinois Basin
|
15,921 | 12,360 | 3,561 | 29 | % | |||||||||||
Ancillary
|
9,596 | 12,133 | (2,537 | ) | (21 | )% | ||||||||||
Total cost of coal
sales
|
$ | 240,204 | $ | 188,356 | $ | 51,848 | 28 | % |
Three months
ended
September 30,
|
Increase
(Decrease)
|
|||||||||||||||
2008
|
2007
|
$
|
%
|
|||||||||||||
(in thousands, except percentages)
|
||||||||||||||||
Central
Appalachian
|
$ | 36,779 | $ | 7,391 | $ | 29,388 | 398 | % | ||||||||
Northern
Appalachian
|
3,796 | (8,233 | ) | 12,029 | 146 | % | ||||||||||
Illinois Basin
|
3,924 | 3,790 | 134 | 4 | % | |||||||||||
Ancillary
|
454 | 30,728 | (30,274 | ) | (99 | )% | ||||||||||
Total Adjusted
EBITDA
|
$ | 44,953 | $ | 33,676 | $ | 11,277 | 33 | % |
|
Three months
ended
September 30,
|
Increase
(Decrease)
|
||||||||||||
|
2008
|
2007
|
$
|
%
|
||||||||||
|
(in thousands, except percentages)
|
|||||||||||||
Central
Appalachian
|
|
|||||||||||||
Net income (loss)
|
|
$
|
20,280
|
$
|
(7,920
|
)
|
$
|
28,200
|
356
|
%
|
||||
Depreciation, depletion and
amortization
|
|
16,004
|
14,917
|
1,087
|
7
|
%
|
||||||||
Interest expense,
net
|
|
495
|
394
|
101
|
26
|
%
|
||||||||
Adjusted
EBITDA
|
|
$
|
36,779
|
$
|
7,391
|
$
|
29,388
|
398
|
%
|
|
Three months ended
September 30,
|
Increase
(Decrease)
|
||||||||||||
|
2008
|
2007
|
$
|
%
|
||||||||||
|
(in thousands, except percentages)
|
|||||||||||||
Northern
Appalachian
|
|
|||||||||||||
Net loss
|
|
$
|
(1,467
|
)
|
$
|
(11,431
|
)
|
$
|
9,964
|
87
|
%
|
|||
Depreciation, depletion and
amortization
|
|
5,078
|
3,204
|
1,874
|
58
|
%
|
||||||||
Interest expense,
net
|
|
187
|
131
|
56
|
43
|
%
|
||||||||
Minority
interest
|
|
(2
|
)
|
(137
|
)
|
135
|
99
|
%
|
||||||
Adjusted
EBITDA
|
|
$
|
3,796
|
$
|
(8,233
|
)
|
$
|
12,029
|
146
|
%
|
|
Three months ended
September 30,
|
Increase
(Decrease)
|
||||||||||||
|
2008
|
2007
|
$
|
%
|
||||||||||
|
(in thousands, except percentages)
|
|||||||||||||
Illinois Basin
|
|
|||||||||||||
Net income
|
|
$
|
2,204
|
$
|
2,295
|
$
|
(91
|
)
|
(4
|
)%
|
||||
Depreciation, depletion and
amortization
|
|
1,658
|
1,436
|
222
|
15
|
%
|
||||||||
Interest expense,
net
|
|
62
|
59
|
3
|
5
|
%
|
||||||||
Adjusted
EBITDA
|
|
$
|
3,924
|
$
|
3,790
|
$
|
134
|
4
|
%
|
|
Three months ended
September 30,
|
Increase
(Decrease)
|
||||||||||||
|
2008
|
2007
|
$
|
%
|
||||||||||
|
(in thousands, except percentages)
|
|||||||||||||
Ancillary
|
|
|||||||||||||
Net income (loss)
|
|
$
|
(11,309
|
)
|
$
|
15,773
|
$
|
(27,082
|
)
|
(172
|
)%
|
|||
Depreciation, depletion and
amortization
|
|
1,487
|
3,460
|
(1,973
|
)
|
(57
|
)%
|
|||||||
Interest expense,
net
|
|
8,093
|
13,850
|
(5,757
|
)
|
(42
|
)%
|
|||||||
Income tax expense
(benefit)
|
|
2,183
|
(2,355
|
)
|
4,538
|
193
|
%
|
|||||||
Adjusted
EBITDA
|
|
$
|
454
|
$
|
30,728
|
$
|
(30,274
|
)
|
(99
|
)%
|
|
Three months ended
September 30,
|
Increase
(Decrease)
|
||||||||||||
|
2008
|
2007
|
$
|
%
|
||||||||||
|
(in thousands, except percentages)
|
|||||||||||||
Consolidated
|
|
|||||||||||||
Net income
(loss)
|
|
$
|
9,708
|
$
|
(1,283
|
)
|
$
|
10,991
|
857
|
%
|
||||
Depreciation, depletion and
amortization
|
|
24,227
|
23,017
|
1,210
|
5
|
%
|
||||||||
Interest expense,
net
|
|
8,837
|
14,434
|
(5,597
|
)
|
(39
|
)%
|
|||||||
Income tax expense
(benefit)
|
|
2,183
|
(2,355
|
)
|
4,538
|
193
|
%
|
|||||||
Minority
interest
|
|
(2
|
)
|
(137
|
)
|
135
|
99
|
%
|
||||||
Adjusted
EBITDA
|
|
$
|
44,953
|
$
|
33,676
|
$
|
11,277
|
33
|
%
|
Nine months ended
September 30,
|
Increase
(Decrease)
|
|||||||||||||||
2008
|
2007
|
$ or Tons
|
%
|
|||||||||||||
(in thousands, except percentages and per ton data)
|
||||||||||||||||
Coal sales
revenues
|
$ | 761,963 | $ | 592,081 | $ | 169,882 | 29 | % | ||||||||
Freight and handling
revenues
|
35,492 | 14,645 | 20,847 | 142 | % | |||||||||||
Other
revenues
|
41,554 | 37,467 | 4,087 | 11 | % | |||||||||||
Total
revenues
|
$ | 839,009 | $ | 644,193 | $ | 194,816 | 30 | % | ||||||||
Tons sold
|
14,502 | 13,945 | 557 | 4 | % | |||||||||||
Coal sales revenue per
ton
|
$ | 52.54 | $ | 42.46 | $ | 10.08 | 24 | % |
Nine months ended
September 30,
|
Increase
(Decrease)
|
|||||||||||||||
2008
|
2007
|
$
|
%
|
|||||||||||||
|
(in thousands, except percentages)
|
|||||||||||||||
Central
Appalachian
|
$ | 512,537 | $ | 393,527 | $ | 119,010 | 30 | % | ||||||||
Northern
Appalachian
|
157,528 | 87,734 | 69,794 | 80 | % | |||||||||||
Illinois Basin
|
52,619 | 46,727 | 5,892 | 13 | % | |||||||||||
Ancillary
|
39,279 | 64,093 | (24,814 | ) | (39 | )% | ||||||||||
Total coal sales
revenues
|
$ | 761,963 | $ | 592,081 | $ | 169,882 | 29 | % |
Nine months ended
September 30,
|
Increase
(Decrease)
|
|||||||||||||||
2008
|
2007
|
Tons
|
%
|
|||||||||||||
(in thousands, except percentages)
|
||||||||||||||||
Central
Appalachian
|
8,908 | 8,545 | 363 | 4 | % | |||||||||||
Northern
Appalachian
|
2,969 | 2,422 | 547 | 23 | % | |||||||||||
Illinois Basin
|
1,762 | 1,563 | 199 | 13 | % | |||||||||||
Ancillary
|
863 | 1,415 | (552 | ) | (39 | )% | ||||||||||
Total tons
sold
|
14,502 | 13,945 | 557 | 4 | % |
Nine months ended
September 30,
|
Increase
(Decrease)
|
|||||||||||||||
2008
|
2007
|
$
|
%
|
|||||||||||||
(in thousands, except percentages and per ton data)
|
||||||||||||||||
Cost of coal
sales
|
$ | 666,598 | $ | 557,787 | $ | 108,811 | 20 | % | ||||||||
Freight and handling
costs
|
35,492 | 14,645 | 20,847 | 142 | % | |||||||||||
Cost of other
revenues
|
27,847 | 27,139 | 708 | 3 | % | |||||||||||
Depreciation, depletion and
amortization
|
70,878 | 65,987 | 4,891 | 7 | % | |||||||||||
Selling, general and
administrative expenses
|
27,051 | 25,868 | 1,183 | 5 | % | |||||||||||
Gain on sale of
assets
|
(32,675 | ) | (37,798 | ) | 5,123 | 14 | % | |||||||||
Total costs and
expenses
|
$ | 795,191 | $ | 653,628 | $ | 141,563 | 22 | % | ||||||||
Cost of coal sales per ton
sold
|
$ | 45.96 | $ | 40.00 | $ | 5.96 | 15 | % |
Nine months ended
September 30,
|
Increase
(Decrease)
|
|||||||||||||||
2008
|
2007
|
$
|
%
|
|||||||||||||
(in thousands, except percentages)
|
||||||||||||||||
Central
Appalachian
|
$ | 443,452 | $ | 354,149 | $ | 89,303 | 25 | % | ||||||||
Northern
Appalachian
|
147,488 | 111,943 | 35,545 | 32 | % | |||||||||||
Illinois Basin
|
44,547 | 36,755 | 7,792 | 21 | % | |||||||||||
Ancillary
|
31,111 | 54,940 | (23,829 | ) | (43 | )% | ||||||||||
Total cost of coal sales
|
$ | 666,598 | $ | 557,787 | $ | 108,811 | 20 | % |
|
Nine months ended
September 30,
|
Increase
(Decrease)
|
||||||||||||
|
2008
|
2007
|
$
|
%
|
||||||||||
|
(in thousands, except percentages)
|
|||||||||||||
Central
Appalachian
|
|
$
|
98,924
|
$
|
41,163
|
$
|
57,761
|
140
|
%
|
|||||
Northern
Appalachian
|
|
15,321
|
(21,772
|
)
|
37,093
|
170
|
%
|
|||||||
Illinois Basin
|
|
10,167
|
11,217
|
(1,050
|
)
|
(9
|
)%
|
|||||||
Ancillary
|
|
(9,716
|
)
|
27,245
|
(36,961
|
)
|
(136
|
)%
|
||||||
Total Adjusted
EBITDA
|
|
$
|
114,696
|
$
|
57,853
|
$
|
56,843
|
98
|
%
|
|
Nine months ended
September 30,
|
Increase
(Decrease)
|
||||||||||||
|
2008
|
2007
|
$
|
%
|
||||||||||
|
(in thousands, except percentages)
|
|||||||||||||
Central
Appalachian
|
|
|||||||||||||
Net income (loss)
|
|
$
|
49,961
|
$
|
(5,460
|
)
|
$
|
55,421
|
*
|
|||||
Depreciation, depletion and
amortization
|
|
47,569
|
45,604
|
1,965
|
4
|
%
|
||||||||
Interest expense,
net
|
|
1,394
|
1,019
|
375
|
37
|
%
|
||||||||
Adjusted
EBITDA
|
|
$
|
98,924
|
$
|
41,163
|
$
|
57,761
|
140
|
%
|
|
Nine months ended
September 30,
|
Increase
(Decrease)
|
||||||||||||
|
2008
|
2007
|
$
|
%
|
||||||||||
|
(in thousands, except percentages)
|
|||||||||||||
Northern
Appalachian
|
|
|||||||||||||
Net income
(loss)
|
|
$
|
2,194
|
$
|
(29,016
|
)
|
$
|
31,210
|
108
|
%
|
||||
Depreciation, depletion and
amortization
|
|
12,639
|
7,419
|
5,220
|
70
|
%
|
||||||||
Interest expense,
net
|
|
485
|
337
|
148
|
44
|
%
|
||||||||
Minority
interest
|
|
3
|
(512
|
)
|
515
|
101
|
%
|
|||||||
Adjusted
EBITDA
|
|
$
|
15,321
|
$
|
(21,772
|
)
|
$
|
37,093
|
170
|
%
|
|
Nine months ended
September 30,
|
Increase
(Decrease)
|
||||||||||||
|
2008
|
2007
|
$
|
%
|
||||||||||
|
(in thousands, except percentages)
|
|||||||||||||
Illinois Basin
|
|
|||||||||||||
Net income
|
|
$
|
4,569
|
$
|
6,421
|
$
|
(1,852
|
)
|
(29
|
)%
|
||||
Depreciation, depletion and
amortization
|
|
5,420
|
4,625
|
795
|
17
|
%
|
||||||||
Interest expense,
net
|
|
178
|
171
|
7
|
4
|
%
|
||||||||
Adjusted
EBITDA
|
|
$
|
10,167
|
$
|
11,217
|
$
|
(1,050
|
)
|
(9
|
)%
|
|
Nine months ended
September 30,
|
Increase
(Decrease)
|
||||||||||||
|
2008
|
2007
|
$
|
%
|
||||||||||
|
(in thousands, except percentages)
|
|||||||||||||
Ancillary
|
|
|||||||||||||
Net income (loss)
|
|
$
|
(44,424
|
)
|
$
|
8,470
|
$
|
(52,894
|
)
|
(624
|
)%
|
|||
Depreciation, depletion and
amortization
|
|
5,250
|
8,339
|
(3,089
|
)
|
(37
|
)%
|
|||||||
Interest expense,
net
|
|
26,962
|
25,108
|
1,854
|
7
|
%
|
||||||||
Income tax expense
(benefit)
|
|
2,496
|
(14,672
|
)
|
17,168
|
117
|
%
|
|||||||
Adjusted
EBITDA
|
|
$
|
(9,716
|
)
|
$
|
27,245
|
$
|
(36,961
|
)
|
(136
|
)%
|
|
Nine months ended
September 30,
|
Increase
(Decrease)
|
||||||||||||
|
2008
|
2007
|
$
|
%
|
||||||||||
|
(in thousands, except percentages)
|
|||||||||||||
Consolidated
|
|
|||||||||||||
Net income
(loss)
|
|
$
|
12,300
|
$
|
(19,585
|
)
|
$
|
31,885
|
163
|
%
|
||||
Depreciation, depletion and
amortization
|
|
70,878
|
65,987
|
4,891
|
7
|
%
|
||||||||
Interest expense,
net
|
|
29,019
|
26,635
|
2,384
|
9
|
%
|
||||||||
Income tax expense
(benefit)
|
|
2,496
|
(14,672
|
)
|
17,168
|
117
|
%
|
|||||||
Minority
interest
|
|
3
|
(512
|
)
|
515
|
101
|
%
|
|||||||
Adjusted
EBITDA
|
|
$
|
114,696
|
$
|
57,853
|
$
|
56,843
|
98
|
%
|
|
September 30,
2008
|
|||
9.00% Convertible Senior Notes,
due 2012
|
|
$
|
225,000
|
|
10.25% Senior Notes, due
2014
|
|
175,000
|
||
Equipment
notes
|
|
25,796
|
||
Total
|
|
425,796
|
||
Less–current
portion
|
|
(7,404
|
)
|
|
Long-term
debt
|
|
$
|
418,392
|
Item 3.
|
Quantitative and
Qualitative Disclosures About Market
Risk
|
Item 4.
|
Controls and
Procedures
|
Item 1.
|
Item 1A.
|
Item 6.
|
2.1
|
|
Business Combination Agreement
among International Coal Group, Inc. (n/k/a ICG, Inc.), ICG Holdco, Inc.
(n/k/a International Coal Group, Inc.), ICG Merger Sub, Inc., Anker Merger
Sub, Inc. and Anker Coal Group, Inc., dated as of March 31,
2005
|
|
(A
|
)
|
2.2
|
|
First Amendment to the Business
Combination Agreement among International Coal Group, Inc. (f/k/a ICG
Holdco, Inc.), ICG, Inc. (f/k/a International Coal Group, Inc.), ICG
Merger Sub, Inc., Anker Merger Sub, Inc. and Anker Coal Group, Inc., dated
as of May 10, 2005
|
|
(A
|
)
|
2.3
|
|
Second Amendment to the Business
Combination Agreement among International Coal Group, Inc. (f/k/a ICG
Holdco, Inc.), ICG, Inc. (f/k/a International Coal Group, Inc.), ICG
Merger Sub, Inc., Anker Merger Sub, Inc. and Anker Coal Group, Inc.,
effective as of June 29, 2005
|
|
(B
|
)
|
2.4
|
|
Business Combination Agreement
among International Coal Group, Inc. (n/k/a ICG, Inc.), ICG Holdco, Inc.
(n/k/a International Coal Group, Inc.), CoalQuest Merger Sub LLC,
CoalQuest Development LLC and the members of CoalQuest Development LLC,
dated as of March 31, 2005
|
|
(A
|
)
|
2.5
|
|
First Amendment to the Business
Combination Agreement among International Coal Group, Inc. (f/k/a ICG
Holdco, Inc.), ICG, Inc. (f/k/a International Coal Group, Inc.), CoalQuest
Merger Sub LLC, CoalQuest Development LLC and the members of CoalQuest
Development LLC, dated as of May 10, 2005
|
|
(A
|
)
|
2.6
|
|
Second Amendment to the Business
Combination Agreement among International Coal Group, Inc. (f/k/a ICG
Holdco, Inc.), ICG, Inc. (f/k/a International Coal Group, Inc.), CoalQuest
Merger Sub LLC, CoalQuest Development LLC and the members of CoalQuest
Development LLC, effective as of June 29, 2005
|
|
(B
|
)
|
3.1
|
|
Form of Second Amended and
Restated Certificate of Incorporation of International Coal Group,
Inc.
|
|
(E
|
)
|
3.2
|
|
Form of Second Amended and
Restated By-laws of International Coal Group, Inc.
|
|
(F
|
)
|
4.1
|
|
Form of certificate of
International Coal Group, Inc. common stock
|
|
(C
|
)
|
4.2
|
|
Registration Rights Agreement by
and between International Coal Group, Inc., WLR Recovery Fund II, L.P.,
Contrarian Capital Management LLC, Värde Partners, Inc., Greenlight
Capital, Inc., and Stark Trading, Shepherd International Coal Holdings
Inc.
|
|
(A
|
)
|
4.4
|
|
Indenture, dated June 23,
2006, by and among ICG, the guarantors party thereto and The Bank of New
York Trust Company, N.A., as trustee
|
|
(G
|
)
|
4.5
|
|
Form of 10.25%
Note
|
|
(G
|
)
|
4.6
|
|
Indenture, dated July 31,
2007, by and among ICG, the guarantors party thereto and The Bank of New
York Trust Company, N.A., as trustee
|
|
(J
|
)
|
4.7
|
|
Form of Senior Convertible 9.00%
Note
|
|
(J
|
)
|
4.8
|
|
Registration Rights Agreement,
dated July 31, 2007, by and among ICG, the guarantors party thereto and
UBS Securities LLC
|
|
(J
|
)
|
4.9
|
|
Registration Rights Agreement
dated as of May 16, 2008 by and between ICG and Fairfax Financial Holdings
Limited
|
|
(K
|
)
|
10.1
|
|
Amendment No. 1 to the Second
Amended and Restated Credit Agreement, dated as of January 31, 2007, among
ICG, LLC, as borrower, International Coal Group, Inc. and certain of its
subsidiaries as guarantors, the lenders party thereto, J.P. Morgan Chase
Securities Inc. and UBS Securities LLC, as joint lead arrangers and joint
bookrunners, JPMorgan Chase Bank, N.A. and CIT Capital USA Inc., as
co-syndication agents, Bank of America, N.A. and Wachovia Bank, N.A., as
co-documentation agents, JPMorgan Chase Bank and Bank of America, N.A., as
issuing banks, UBS Loan Finance LLC, as swingline lender, and UBS AG,
Stamford Branch, as issuing bank, as administrative agent and as
collateral agent for the lenders
|
|
(H
|
)
|
10.2
|
|
Second Amendment and Limited
Waiver to Second Amended and Restated Credit Agreement, effective as of
July 31, 2007, by and among ICG, LLC, as borrower, the guarantors
party thereto, the lenders party thereto, J.P. Morgan Securities Inc. and
UBS Securities LLC, as joint lead arrangers and joint bookrunners,
JPMorgan Chase Bank, N.A. and CIT Capital Securities LLC, as
co-syndication agents, Bank of America, N.A. and Wachovia Bank, N.A. as
co-documentation agents, JPMorgan Chase Bank, N.A. as an issuing bank, UBS
Loan Finance LLC, as swingline lender, and UBS AG, Stamford Branch, as an
issuing bank, administrative agent and collateral
agent
|
|
(J
|
)
|
31.1
|
|
Certification of the Principal
Executive Officer
|
|
(D
|
)
|
31.2
|
|
Certification of the Principal
Financial Officer
|
|
(D
|
)
|
32.1
|
|
Certification Pursuant to §906 of
the Sarbanes Oxley Act of 2002
|
|
(D
|
)
|
(A)
|
|
Previously filed as an exhibit to
Amendment No. 1 to International Coal Group, Inc.’s Registration
Statement on Form S-1 (Reg. No. 333-124393), filed on June 15,
2005 and incorporated herein by reference.
|
(B)
|
|
Previously filed as an exhibit to
Amendment No. 2 to International Coal Group, Inc.’s Registration
Statement on Form S-1 (Reg. No. 333-124393), filed on June 30,
2005 and incorporated herein by reference.
|
(C)
|
|
Previously filed as an exhibit to
Amendment No. 3 to International Coal Group, Inc.’s Registration
Statement on Form S-1 (Reg. No. 333-124393), filed on
September 28, 2005 and incorporated herein by
reference.
|
(D)
|
|
Filed
herewith.
|
(E)
|
|
Previously filed as an exhibit to
Amendment No. 4 to International Coal Group, Inc.’s Registration
Statement on Form S-1 (Reg. No. 333-124393), filed on
October 24, 2005.
|
(F)
|
|
Previously filed as an exhibit to
Amendment No. 5 to International Coal Group, Inc.’s Registration
Statement on Form S-1 (Reg. No. 333-124393), filed on
November 9, 2005.
|
(G)
|
|
Previously filed as an exhibit to
International Coal Group, Inc.’s Current Report on Form 8-K filed on
June 26, 2006.
|
(H)
|
|
Previously filed as an exhibit to
International Coal Group, Inc.’s Annual Report on Form 10-K for the year
ended December 31, 2006 filed on March 1,
2007.
|
(I)
|
|
Previously filed as an exhibit to
International Coal Group, Inc.’s Quarterly Report on Form 10-Q for the
quarter ended March 31, 2007 filed on May 8,
2007.
|
(J)
|
|
Previously filed as an exhibit to
International Coal Group, Inc.’s Current Report on Form 8-K filed on
July 31, 2007.
|
(K)
|
|
Previously filed as an exhibit to
Fairfax Financial Holdings Limited’s Amendment No. 1 to Form Schedule 13D
filed on May 29, 2008.
|
(L)
|
|
Previously filed as an exhibit to
International Coal Group, Inc.’s Quarterly Report on Form 10-Q for the
quarter ended June 30, 2008 filed on August 8,
2008.
|
INTERNATIONAL COAL GROUP,
INC.
|
||
By:
|
/s/ Bennett K.
Hatfield
|
|
Name:
|
Bennett K.
Hatfield
|
|
Title:
|
President, Chief Executive Officer and Director
|
|
(Principal Executive
Officer)
|
||
By:
|
/s/ Bradley W.
Harris
|
|
Name:
|
Bradley W.
Harris
|
|
Title:
|
Senior Vice President, Chief
Financial Officer and Treasurer
|
|
(Principal Financial Officer) |