10-Q Filing

Intrepid Potash, Inc. CIK: 1421461 Q1 2011

Filing Information

Form Type	10-Q
Accession Number	`0001047469-11-004629`
Period End Date	20110331
Filing Date	20110505
Fiscal Year	2011
Fiscal Period	Q1
XBRL Instance	ipi-20110331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 76 Income Statement 42 Cash Flow Statement 59 Stockholders Equity 15

Balance Sheet 76 line items

Line Item	Tag	Value	Unit	Period
Property, plant, and equipment, accumulated depreciation (in dollars)	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$66.61M	USD	Point-in-time
Property, plant, and equipment, accumulated depreciation (in dollars)	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$74.19M	USD	Point-in-time
Mineral properties and development costs, accumulated depletion (in dollars)	`MineralPropertiesAccumulatedDepletion`	$8.87M	USD	Point-in-time
Mineral properties and development costs, accumulated depletion (in dollars)	`MineralPropertiesAccumulatedDepletion`	$8.43M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$76.13M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$100.33M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$89.79M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$69.23M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	75.11M	shares	Point-in-time
Short-term investments	`ShortTermInvestments`	$38.67M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$45.56M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	75.15M	shares	Point-in-time
Trade, net	`AccountsReceivableNetCurrent`	$23.77M	USD	Point-in-time
Trade, net	`AccountsReceivableNetCurrent`	$38.06M	USD	Point-in-time
Other receivables	`NontradeReceivablesCurrent`	$2.42M	USD	Point-in-time
Other receivables	`NontradeReceivablesCurrent`	$1.16M	USD	Point-in-time
Refundable income taxes	`IncomeTaxesReceivable`	$6.54M	USD	Point-in-time
Refundable income taxes	`IncomeTaxesReceivable`	$3.52M	USD	Point-in-time
Inventory, net	`InventoryNet`	$48.09M	USD	Point-in-time
Inventory, net	`InventoryNet`	$49.29M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$3.06M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$4.02M	USD	Point-in-time
Current deferred tax asset	`DeferredTaxAssetsNetCurrent`	$3.55M	USD	Point-in-time
Current deferred tax asset	`DeferredTaxAssetsNetCurrent`	$4.91M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$208.82M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$209.16M	USD	Point-in-time
Property, plant, and equipment, net of accumulated depreciation of $74,191 and $66,615, respectively	`PropertyPlantAndEquipmentNet`	$305.08M	USD	Point-in-time
Property, plant, and equipment, net of accumulated depreciation of $74,191 and $66,615, respectively	`PropertyPlantAndEquipmentNet`	$285.92M	USD	Point-in-time
Mineral properties and development costs, net of accumulated depletion of $8,865 and $8,431, respectively	`MineralPropertiesAndDevelopmentCostsNet`	$33.82M	USD	Point-in-time
Mineral properties and development costs, net of accumulated depletion of $8,865 and $8,431, respectively	`MineralPropertiesAndDevelopmentCostsNet`	$34.37M	USD	Point-in-time
Long-term parts inventory, net	`LongTermPartsInventoryNoncurrent`	$7.12M	USD	Point-in-time
Long-term parts inventory, net	`LongTermPartsInventoryNoncurrent`	$7.37M	USD	Point-in-time
Long-term investments	`LongTermInvestments`	$21.30M	USD	Point-in-time
Long-term investments	`LongTermInvestments`	$34.37M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$5.21M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$5.31M	USD	Point-in-time
Non-current deferred tax asset	`DeferredTaxAssetsNetNoncurrent`	$266.04M	USD	Point-in-time
Non-current deferred tax asset	`DeferredTaxAssetsNetNoncurrent`	$249.31M	USD	Point-in-time
Total Assets	`Assets`	$828.88M	USD	Point-in-time
Total Assets	`Assets`	$844.32M	USD	Point-in-time
Trade	`AccountsPayableTradeCurrent`	$16.15M	USD	Point-in-time
Trade	`AccountsPayableTradeCurrent`	$17.95M	USD	Point-in-time
Related parties	`AccountsPayableRelatedPartiesCurrent`	$39.00K	USD	Point-in-time
Related parties	`AccountsPayableRelatedPartiesCurrent`	$126.00K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$17.15M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$18.47M	USD	Point-in-time
Accrued employee compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$7.11M	USD	Point-in-time
Accrued employee compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$8.60M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$1.32M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$1.58M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$43.09M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$45.41M	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$9.67M	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$9.48M	USD	Point-in-time
Deferred insurance proceeds	`DeferredInsuranceProceedsNoncurrent`	$11.70M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$4.17M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$4.46M	USD	Point-in-time
Total Liabilities	`Liabilities`	$56.93M	USD	Point-in-time
Total Liabilities	`Liabilities`	$71.04M	USD	Point-in-time
Common stock, $0.001 par value; 100,000,000 shares authorized; and 75,154,388 and 75,110,875 shares outstanding at March 31, 2011, and December 31, 2010, respectively	`CommonStockValue`	$75.00K	USD	Point-in-time
Common stock, $0.001 par value; 100,000,000 shares authorized; and 75,154,388 and 75,110,875 shares outstanding at March 31, 2011, and December 31, 2010, respectively	`CommonStockValue`	$75.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$560.93M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$559.67M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-681.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-702.00K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$227.07M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$198.79M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$787.39M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$787.39M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$757.84M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$844.32M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$828.88M	USD	Point-in-time

Income Statement 42 line items

Line Item	Tag	Value	Unit	Period
Sales	`RevenueMineralSales`	$104.98M	USD	1 Quarter
Sales	`RevenueMineralSales`	$107.36M	USD	1 Quarter
Freight costs	`FreightCosts`	$9.77M	USD	1 Quarter
Freight costs	`FreightCosts`	$7.99M	USD	1 Quarter
Warehousing and handling costs	`WarehousingAndHandlingCosts`	$3.28M	USD	1 Quarter
Warehousing and handling costs	`WarehousingAndHandlingCosts`	$2.73M	USD	1 Quarter
Cost of goods sold	`MineralExtractionProcessingAndMarketingCosts`	$51.99M	USD	1 Quarter
Cost of goods sold	`MineralExtractionProcessingAndMarketingCosts`	$67.25M	USD	1 Quarter
Costs associated with abnormal production	`AbnormalProductionCosts`	$470.00K	USD	1 Quarter
Other	`OtherCostOfOperatingRevenue`	$269.00K	USD	1 Quarter
Other	`OtherCostOfOperatingRevenue`	$502.00K	USD	1 Quarter
Gross Margin	`GrossProfit`	$41.22M	USD	1 Quarter
Gross Margin	`GrossProfit`	$26.88M	USD	1 Quarter
Selling and administrative	`SellingGeneralAndAdministrativeExpense`	$6.87M	USD	1 Quarter
Selling and administrative	`SellingGeneralAndAdministrativeExpense`	$6.61M	USD	1 Quarter
Accretion of asset retirement obligation	`AssetRetirementObligationAccretionExpense`	$176.00K	USD	1 Quarter
Accretion of asset retirement obligation	`AssetRetirementObligationAccretionExpense`	$191.00K	USD	1 Quarter
Insurance settlements from property and business losses	`InsuredEventGainLoss`	$12.50M	USD	1 Quarter
Other	`OtherCostAndExpenseOperating`	$41.00K	USD	1 Quarter
Other	`OtherCostAndExpenseOperating`	$168.00K	USD	1 Quarter
Operating Income	`OperatingIncomeLoss`	$19.92M	USD	1 Quarter
Operating Income	`OperatingIncomeLoss`	$46.61M	USD	1 Quarter
Interest expense, including realized and unrealized derivative gains and losses	`InterestExpenseIncludingGainLossOnDerivative`	$555.00K	USD	1 Quarter
Interest expense, including realized and unrealized derivative gains and losses	`InterestExpenseIncludingGainLossOnDerivative`	$113.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$96.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$370.00K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$47.00K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$259.00K	USD	1 Quarter
Income Before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$19.51M	USD	1 Quarter
Income Before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$47.13M	USD	1 Quarter
Income Tax Expense	`IncomeTaxExpenseBenefit`	$7.66M	USD	1 Quarter
Income Tax Expense	`IncomeTaxExpenseBenefit`	$18.85M	USD	1 Quarter
Net Income	`ProfitLoss`	$11.85M	USD	1 Quarter
Net Income	`ProfitLoss`	$28.28M	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	75.13M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	75.04M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	75.13M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	75.26M	shares	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.38	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.16	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.38	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.16	USD	1 Quarter

Cash Flow Statement 59 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$11.85M	USD	1 Quarter
Net income	`ProfitLoss`	$28.28M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$15.38M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$4.53M	USD	1 Quarter
Insurance settlements from property and business losses	`ReclassOfProceedsFromInsuranceSettlementsToInvestingActivities`	$12.50M	USD	1 Quarter
Depreciation, depletion, amortization, and accretion	`DepreciationDepletionAmortizationAndAccretion`	$6.54M	USD	1 Quarter
Depreciation, depletion, amortization, and accretion	`DepreciationDepletionAmortizationAndAccretion`	$8.53M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$987.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$1.11M	USD	1 Quarter
Unrealized derivative gain	`UnrealizedGainLossOnDerivatives`	$321.00K	USD	1 Quarter
Unrealized derivative gain	`UnrealizedGainLossOnDerivatives`	$89.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$492.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$181.00K	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$14.29M	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$7.61M	USD	1 Quarter
Other receivables	`IncreaseDecreaseInOtherReceivables`	$136.00K	USD	1 Quarter
Other receivables	`IncreaseDecreaseInOtherReceivables`	$454.00K	USD	1 Quarter
Refundable income taxes	`IncreaseDecreaseInIncomeTaxesReceivable`	$-4.83M	USD	1 Quarter
Refundable income taxes	`IncreaseDecreaseInIncomeTaxesReceivable`	$-3.02M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$1.44M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-19.82M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-951.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-861.00K	USD	1 Quarter
Accounts payable, accrued liabilities and accrued employee compensation and benefits	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$190.00K	USD	1 Quarter
Accounts payable, accrued liabilities and accrued employee compensation and benefits	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-4.70M	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-1.25M	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-320.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$35.81M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$28.62M	USD	1 Quarter
Additions to property, plant, and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$13.95M	USD	1 Quarter
Additions to property, plant, and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$28.60M	USD	1 Quarter
Additions to mineral properties and development costs	`PaymentsToAcquireMiningAssets`	$542.00K	USD	1 Quarter
Purchases of investments	`PaymentsToAcquireInvestments`	$11.64M	USD	1 Quarter
Purchases of investments	`PaymentsToAcquireInvestments`	$22.30M	USD	1 Quarter
Proceeds from investments	`ProceedsFromSaleMaturityAndCollectionsOfInvestments`	$15.78M	USD	1 Quarter
Proceeds from investments	`ProceedsFromSaleMaturityAndCollectionsOfInvestments`	$486.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-25.10M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-35.67M	USD	1 Quarter
Employee tax withholding paid for restricted stock upon vesting	`PaymentsToFundEmployeeTaxWithholdingDueUponVestingOfRestrictedCommonStock`	$240.00K	USD	1 Quarter
Employee tax withholding paid for restricted stock upon vesting	`PaymentsToFundEmployeeTaxWithholdingDueUponVestingOfRestrictedCommonStock`	$487.00K	USD	1 Quarter
Excess income tax benefit from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$372.00K	USD	1 Quarter
Excess income tax benefit from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$64.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$254.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$139.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-176.00K	USD	1 Quarter
Net Change in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$10.54M	USD	1 Quarter
Net Change in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-6.90M	USD	1 Quarter
Cash and Cash Equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$76.13M	USD	Point-in-time
Cash and Cash Equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$100.33M	USD	Point-in-time
Cash and Cash Equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$89.79M	USD	Point-in-time
Cash and Cash Equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$69.23M	USD	Point-in-time
Cash and Cash Equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$76.13M	USD	Point-in-time
Cash and Cash Equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$100.33M	USD	Point-in-time
Cash and Cash Equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$89.79M	USD	Point-in-time
Cash and Cash Equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$69.23M	USD	Point-in-time
Interest, including settlements on derivatives	`InterestIncludingSettlementsOnDerivatives`	$576.00K	USD	1 Quarter
Interest, including settlements on derivatives	`InterestIncludingSettlementsOnDerivatives`	$309.00K	USD	1 Quarter
Income taxes	`IncomeTaxesPaidNet`	$-1.77M	USD	1 Quarter
Income taxes	`IncomeTaxesPaidNet`	$93.00K	USD	1 Quarter

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$787.39M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$787.39M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$757.84M	USD	Point-in-time
Pension liability adjustment	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPeriodIncreaseDecrease`	$16.00K	USD	1 Quarter
Unrealized gain on investments held for sale	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$5.00K	USD	1 Quarter
Net income	`ProfitLoss`	$11.85M	USD	1 Quarter
Net income	`ProfitLoss`	$28.28M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$28.30M	USD	1 Quarter
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$1.11M	USD	1 Quarter
Issuance of common stock upon exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$254.00K	USD	1 Quarter
Excess income tax benefit from stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation`	$372.00K	USD	1 Quarter
Vesting of restricted common stock, net of restricted common stock used to fund employee income tax withholding due upon vesting	`VestingOfRestrictedCommonStockNetOfRestrictedCommonStockUsedToFundEmployeeIncomeTaxWithholdingDueUponVestingValue`	$487.00K	USD	1 Quarter
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$787.39M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$787.39M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$757.84M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.