LEVEL 3 (LVLT)

[mr_bitterness]

Coal Mining

Level 3, through its two 50% owned joint-venture surface mines in Montana and Wyoming, sells coal primarily through long-term contracts with public utilities. The long-term contracts for the delivery of coal establish the price, volume, and quality requirements of the coal to be delivered. Revenue under these and other contracts is generally recognized when coal is shipped to the customer.

...from the 10Q today

http://biz.yahoo.com/e/080811/lvlt10-q.html