10-Q Filing

Intrepid Potash, Inc. CIK: 1421461 Q1 2012

Filing Information

Form Type	10-Q
Accession Number	`0001421461-12-000015`
Period End Date	20120331
Filing Date	20120503
Fiscal Year	2012
Fiscal Period	Q1
XBRL Instance	ipi-20120331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 42 Cash Flow Statement 67 Stockholders Equity 2 Comprehensive Income 9

Balance Sheet 74 line items

Line Item	Tag	Value	Unit	Period
Property, plant, and equipment, accumulated depreciation (in dollars)	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$108.53M	USD	Point-in-time
Property, plant, and equipment, accumulated depreciation (in dollars)	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$98.65M	USD	Point-in-time
Mineral properties and development costs, accumulated depletion (in dollars)	`MineralPropertiesAccumulatedDepletion`	$9.77M	USD	Point-in-time
Mineral properties and development costs, accumulated depletion (in dollars)	`MineralPropertiesAccumulatedDepletion`	$10.17M	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
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$76.13M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$73.37M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$69.23M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$60.11M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	75.21M	shares	Point-in-time
Short-term investments	`ShortTermInvestments`	$103.08M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	75.25M	shares	Point-in-time
Short-term investments	`ShortTermInvestments`	$97.24M	USD	Point-in-time
Trade, net	`AccountsReceivableNetCurrent`	$29.30M	USD	Point-in-time
Trade, net	`AccountsReceivableNetCurrent`	$43.69M	USD	Point-in-time
Other receivables	`NontradeReceivablesCurrent`	$6.90M	USD	Point-in-time
Other receivables	`NontradeReceivablesCurrent`	$7.92M	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$4.49M	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$2.48M	USD	Point-in-time
Inventory, net	`InventoryNet`	$55.39M	USD	Point-in-time
Inventory, net	`InventoryNet`	$51.36M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$3.92M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$5.01M	USD	Point-in-time
Current deferred tax asset	`DeferredTaxAssetsNetCurrent`	$4.35M	USD	Point-in-time
Current deferred tax asset	`DeferredTaxAssetsNetCurrent`	$4.93M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$276.91M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$276.64M	USD	Point-in-time
Property, plant, and equipment, net of accumulated depreciation of $108,535 and $98,654, respectively	`PropertyPlantAndEquipmentNet`	$401.49M	USD	Point-in-time
Property, plant, and equipment, net of accumulated depreciation of $108,535 and $98,654, respectively	`PropertyPlantAndEquipmentNet`	$387.42M	USD	Point-in-time
Mineral properties and development costs, net of accumulated depletion of $10,168 and $9,773, respectively	`MineralPropertiesAndDevelopmentCostsNet`	$39.15M	USD	Point-in-time
Mineral properties and development costs, net of accumulated depletion of $10,168 and $9,773, respectively	`MineralPropertiesAndDevelopmentCostsNet`	$33.48M	USD	Point-in-time
Long-term parts inventory, net	`LongTermPartsInventoryNoncurrent`	$9.56M	USD	Point-in-time
Long-term parts inventory, net	`LongTermPartsInventoryNoncurrent`	$9.34M	USD	Point-in-time
Long-term investments	`LongTermInvestments`	$11.53M	USD	Point-in-time
Long-term investments	`LongTermInvestments`	$6.18M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$3.86M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$3.95M	USD	Point-in-time
Non-current deferred tax asset	`DeferredTaxAssetsNetNoncurrent`	$215.63M	USD	Point-in-time
Non-current deferred tax asset	`DeferredTaxAssetsNetNoncurrent`	$206.17M	USD	Point-in-time
Total Assets	`Assets`	$948.43M	USD	Point-in-time
Total Assets	`Assets`	$932.87M	USD	Point-in-time
Trade	`AccountsPayableTradeCurrent`	$16.36M	USD	Point-in-time
Trade	`AccountsPayableTradeCurrent`	$20.90M	USD	Point-in-time
Related parties	`AccountsPayableRelatedPartiesCurrent`	$93.00K	USD	Point-in-time
Related parties	`AccountsPayableRelatedPartiesCurrent`	$134.00K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$14.79M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$16.01M	USD	Point-in-time
Accrued employee compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$12.37M	USD	Point-in-time
Accrued employee compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$10.08M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$1.48M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$1.29M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$43.84M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$49.67M	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$9.62M	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$9.71M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$2.35M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$2.31M	USD	Point-in-time
Total Liabilities	`Liabilities`	$61.74M	USD	Point-in-time
Total Liabilities	`Liabilities`	$55.77M	USD	Point-in-time
Common stock, $0.001 par value; 100,000,000 shares authorized; and 75,250,041 and 75,110,875 shares outstanding at March 31, 2012, and December 31, 2011, respectively	`CommonStockValue`	$75.00K	USD	Point-in-time
Common stock, $0.001 par value; 100,000,000 shares authorized; and 75,250,041 and 75,110,875 shares outstanding at March 31, 2012, and December 31, 2011, respectively	`CommonStockValue`	$75.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$565.15M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$564.28M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.39M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.43M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$308.20M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$328.83M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$892.67M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$871.13M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$932.87M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$948.43M	USD	Point-in-time

Income Statement 42 line items

Line Item	Tag	Value	Unit	Period
Sales	`RevenueMineralSales`	$104.98M	USD	1 Quarter
Sales	`RevenueMineralSales`	$112.24M	USD	1 Quarter
Freight costs	`FreightCosts`	$7.99M	USD	1 Quarter
Freight costs	`FreightCosts`	$6.76M	USD	1 Quarter
Warehousing and handling costs	`WarehousingAndHandlingCosts`	$3.28M	USD	1 Quarter
Warehousing and handling costs	`WarehousingAndHandlingCosts`	$3.36M	USD	1 Quarter
Cost of goods sold	`MineralExtractionProcessingAndMarketingCosts`	$60.58M	USD	1 Quarter
Cost of goods sold	`MineralExtractionProcessingAndMarketingCosts`	$51.99M	USD	1 Quarter
Other	`ImpairmentOfProductInventory`	$502.00K	USD	1 Quarter
Other	`ImpairmentOfProductInventory`	$330.00K	USD	1 Quarter
Gross Margin	`GrossProfit`	$41.21M	USD	1 Quarter
Gross Margin	`GrossProfit`	$41.22M	USD	1 Quarter
Selling and administrative	`SellingGeneralAndAdministrativeExpense`	$6.87M	USD	1 Quarter
Selling and administrative	`SellingGeneralAndAdministrativeExpense`	$8.26M	USD	1 Quarter
Accretion of asset retirement obligation	`AssetRetirementObligationAccretionExpense`	$191.00K	USD	1 Quarter
Accretion of asset retirement obligation	`AssetRetirementObligationAccretionExpense`	$181.00K	USD	1 Quarter
Insurance settlement income from property and business losses	`InsuredEventGainLoss`	-	USD	1 Quarter
Insurance settlement income from property and business losses	`InsuredEventGainLoss`	$12.50M	USD	1 Quarter
Other (income) expense	`OtherCostAndExpenseOperating`	$-28.00K	USD	1 Quarter
Other (income) expense	`OtherCostAndExpenseOperating`	$41.00K	USD	1 Quarter
Operating Income	`OperatingIncomeLoss`	$46.61M	USD	1 Quarter
Operating Income	`OperatingIncomeLoss`	$32.80M	USD	1 Quarter
Interest expense, including realized and unrealized derivative gains and losses	`InterestExpenseIncludingGainLossOnDerivative`	$253.00K	USD	1 Quarter
Interest expense, including realized and unrealized derivative gains and losses	`InterestExpenseIncludingGainLossOnDerivative`	$113.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$370.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$513.00K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$183.00K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$259.00K	USD	1 Quarter
Income Before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$47.13M	USD	1 Quarter
Income Before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$33.24M	USD	1 Quarter
Income Tax Expense	`IncomeTaxExpenseBenefit`	$12.61M	USD	1 Quarter
Income Tax Expense	`IncomeTaxExpenseBenefit`	$18.85M	USD	1 Quarter
Net Income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$28.28M	USD	1 Quarter
Net Income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$20.63M	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	75.23M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	75.13M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	75.32M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	75.26M	shares	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.27	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.38	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.27	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.38	USD	1 Quarter

Cash Flow Statement 67 line items

Line Item	Tag	Value	Unit	Period
Net Income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$28.28M	USD	1 Quarter
Net Income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$20.63M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$10.04M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$15.38M	USD	1 Quarter
Insurance settlement income from property and business losses	`InsuredEventGainLoss`	-	USD	1 Quarter
Insurance settlement income from property and business losses	`InsuredEventGainLoss`	$12.50M	USD	1 Quarter
Depreciation, depletion, amortization, and accretion	`DepreciationDepletionAmortizationAndAccretion`	$8.53M	USD	1 Quarter
Depreciation, depletion, amortization, and accretion	`DepreciationDepletionAmortizationAndAccretion`	$11.26M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$1.11M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$1.32M	USD	1 Quarter
Unrealized derivative gain	`UnrealizedGainLossOnDerivatives`	$224.00K	USD	1 Quarter
Unrealized derivative gain	`UnrealizedGainLossOnDerivatives`	$321.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-963.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-492.00K	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$14.29M	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$14.39M	USD	1 Quarter
Other receivables	`IncreaseDecreaseInOtherReceivables`	$454.00K	USD	1 Quarter
Other receivables	`IncreaseDecreaseInOtherReceivables`	$1.02M	USD	1 Quarter
Refundable income taxes	`IncreaseDecreaseInIncomeTaxesReceivable`	$-3.02M	USD	1 Quarter
Refundable income taxes	`IncreaseDecreaseInIncomeTaxesReceivable`	$-2.01M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-4.25M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$1.44M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-951.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.10M	USD	1 Quarter
Accounts payable, accrued liabilities and accrued employee compensation and benefits	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.74M	USD	1 Quarter
Accounts payable, accrued liabilities and accrued employee compensation and benefits	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$190.00K	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-8.00K	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-320.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$28.62M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$37.66M	USD	1 Quarter
Additions to property, plant, and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$32.41M	USD	1 Quarter
Additions to property, plant, and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$28.60M	USD	1 Quarter
Additions to mineral properties and development costs	`PaymentsToAcquireMiningAssets`	$6.07M	USD	1 Quarter
Additions to mineral properties and development costs	`PaymentsToAcquireMiningAssets`	$542.00K	USD	1 Quarter
Proceeds from Insurance Settlement	`ProceedsFromInsuranceSettlementInvestingActivities`	$800.00K	USD	1 Quarter
Purchases of investments	`PaymentsToAcquireInvestments`	$30.73M	USD	1 Quarter
Purchases of investments	`PaymentsToAcquireInvestments`	$22.30M	USD	1 Quarter
Proceeds from investments	`ProceedsFromSaleMaturityAndCollectionsOfInvestments`	$18.72M	USD	1 Quarter
Proceeds from investments	`ProceedsFromSaleMaturityAndCollectionsOfInvestments`	$15.78M	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$-2.00K	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-35.67M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-50.48M	USD	1 Quarter
Employee tax withholding paid for restricted stock upon vesting	`PaymentsToFundEmployeeTaxWithholdingDueUponVestingOfRestrictedCommonStock`	$424.00K	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`	$-25.00K	USD	1 Quarter
Excess income tax benefit from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$372.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	-	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$254.00K	USD	1 Quarter
Net (cash used) provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$139.00K	USD	1 Quarter
Net (cash used) provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-449.00K	USD	1 Quarter
Net Change in Cash and Cash Equivalents	`NetCashProvidedByUsedInContinuingOperations`	$-13.27M	USD	1 Quarter
Net Change in Cash and Cash Equivalents	`NetCashProvidedByUsedInContinuingOperations`	$-6.90M	USD	1 Quarter
Cash and Cash Equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$69.23M	USD	Point-in-time
Cash and Cash Equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$73.37M	USD	Point-in-time
Cash and Cash Equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$60.11M	USD	Point-in-time
Cash and Cash Equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$76.13M	USD	Point-in-time
Cash and Cash Equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$69.23M	USD	Point-in-time
Cash and Cash Equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$73.37M	USD	Point-in-time
Cash and Cash Equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$60.11M	USD	Point-in-time
Cash and Cash Equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$76.13M	USD	Point-in-time
Interest	`InterestIncludingSettlementsOnDerivatives`	$309.00K	USD	1 Quarter
Interest	`InterestIncludingSettlementsOnDerivatives`	$428.00K	USD	1 Quarter
Income taxes	`IncomeTaxesPaidNet`	$93.00K	USD	1 Quarter
Income taxes	`IncomeTaxesPaidNet`	$595.00K	USD	1 Quarter
Capital Expenditures Incurred but Not yet Paid	`CapitalExpendituresIncurredButNotYetPaid`	$9.69M	USD	1 Quarter
Capital Expenditures Incurred but Not yet Paid	`CapitalExpendituresIncurredButNotYetPaid`	$15.80M	USD	1 Quarter

Stockholders Equity 2 line items

Line Item	Tag	Value	Unit	Period
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Tax	`OtherComprehensiveIncomeMinimumPensionLiabilityNetAdjustmentTax`	$10.00K	USD	1 Quarter
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Tax	`OtherComprehensiveIncomeMinimumPensionLiabilityNetAdjustmentTax`	$26.00K	USD	1 Quarter

Comprehensive Income 9 line items

Line Item	Tag	Value	Unit	Period
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Tax	`OtherComprehensiveIncomeMinimumPensionLiabilityNetAdjustmentTax`	$10.00K	USD	1 Quarter
Net Income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$28.28M	USD	1 Quarter
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Tax	`OtherComprehensiveIncomeMinimumPensionLiabilityNetAdjustmentTax`	$26.00K	USD	1 Quarter
Net Income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$20.63M	USD	1 Quarter
Pension liability adjustment	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPeriodIncreaseDecrease`	$39.00K	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecrease`	$21.00K	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecrease`	$39.00K	USD	1 Quarter
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	`ComprehensiveIncomeNetOfTax`	$28.30M	USD	1 Quarter
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	`ComprehensiveIncomeNetOfTax`	$20.66M	USD	1 Quarter

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