Walter Industries, Inc., organized in 1987, is a diversified company that operates in five reportable segments: Natural Resources, Sloss, Financing, Homebuilding and Other. Through these operating segments, the Company offers a line of products and services including coal and natural gas, furnace and foundry coke and slag fiber, mortgage financing, and home construction. Natural Resources and Sloss segment consists of Jim Walter Resources, Inc., Tuscaloosa Resources, Inc., Kodiak Mining Company, LLC and United Land Corporation. Financing and Homebuilding segment, which includes Walter Mortgage Company, originates, purchases, services and securitizes non-conforming instalment notes and loans that are secured by mortgages and liens and The Other segment includes the Company's other land subsidiaries and corporate expenses. On February 19, 2008, the Company announced a restructuring of JWH Holding Company, LLC, the Company's Financing and Homebuilding business. The operations of Jim Walter Resources, Inc. are conducted through its Mining Division, which mines and sells metallurgical coal from two underground mines in Alabama, and its De-Gas Division, which extracts and sells natural gas from the coal seams owned or leased by JWR. The Company and its subsidiaries are subject to a variety of laws and regulations concerning the protection of the environment, both with respect to the construction and operation of many of its plants, mines and other facilities, and with respect to remediating environmental conditions that might exist at its own and other properties