10-Q Filing

Intrepid Potash, Inc. CIK: 1421461 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0001421461-14-000011`
Period End Date	20140331
Filing Date	20140501
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	ipi-20140331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 42 Cash Flow Statement 60 Stockholders Equity 10 Comprehensive Income 10

Balance Sheet 70 line items

Line Item	Tag	Value	Unit	Period
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
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	75.51M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	75.41M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.23M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$394.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$33.62M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.11M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$15.21M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$6.59M	USD	Point-in-time
Trade, net	`AccountsReceivableNetCurrent`	$30.27M	USD	Point-in-time
Trade, net	`AccountsReceivableNetCurrent`	$20.84M	USD	Point-in-time
Other receivables	`OtherReceivablesNetCurrent`	$10.77M	USD	Point-in-time
Other receivables	`OtherReceivablesNetCurrent`	$7.46M	USD	Point-in-time
Refundable income taxes	`IncomeTaxesReceivable`	$15.72M	USD	Point-in-time
Refundable income taxes	`IncomeTaxesReceivable`	$13.70M	USD	Point-in-time
Inventory, net	`InventoryNet`	$93.06M	USD	Point-in-time
Inventory, net	`InventoryNet`	$105.01M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$5.65M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$4.55M	USD	Point-in-time
Current deferred tax asset	`DeferredTaxAssetsNetCurrent`	$6.99M	USD	Point-in-time
Current deferred tax asset	`DeferredTaxAssetsNetCurrent`	$8.34M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$169.16M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$178.63M	USD	Point-in-time
Property, plant, equipment, and mineral properties, net	`PropertyPlantEquipmentandMineralPropertiesNet`	$823.51M	USD	Point-in-time
Property, plant, equipment, and mineral properties, net	`PropertyPlantEquipmentandMineralPropertiesNet`	$826.57M	USD	Point-in-time
Long-term parts inventory, net	`LongTermPartsInventoryNoncurrent`	$14.11M	USD	Point-in-time
Long-term parts inventory, net	`LongTermPartsInventoryNoncurrent`	$12.47M	USD	Point-in-time
Long-term investments	`LongTermInvestments`	$9.51M	USD	Point-in-time
Long-term investments	`LongTermInvestments`	$2.00K	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$4.25M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$4.23M	USD	Point-in-time
Non-current deferred tax asset	`DeferredTaxAssetsNetNoncurrent`	$147.97M	USD	Point-in-time
Non-current deferred tax asset	`DeferredTaxAssetsNetNoncurrent`	$143.85M	USD	Point-in-time
Total Assets	`Assets`	$1.16B	USD	Point-in-time
Total Assets	`Assets`	$1.18B	USD	Point-in-time
Trade	`AccountsPayableTradeCurrent`	$27.55M	USD	Point-in-time
Trade	`AccountsPayableTradeCurrent`	$19.39M	USD	Point-in-time
Related parties	`AccountsPayableRelatedPartiesCurrent`	$28.00K	USD	Point-in-time
Related parties	`AccountsPayableRelatedPartiesCurrent`	$50.00K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$21.52M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$29.84M	USD	Point-in-time
Accrued employee compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$9.56M	USD	Point-in-time
Accrued employee compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$9.12M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$1.23M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$2.06M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$51.73M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$68.63M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$150.00M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$150.00M	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$20.29M	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$19.96M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$2.71M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$2.92M	USD	Point-in-time
Total Liabilities	`Liabilities`	$241.30M	USD	Point-in-time
Total Liabilities	`Liabilities`	$224.93M	USD	Point-in-time
Common stock, $0.001 par value; 100,000,000 shares authorized; and 75,507,091 and 75,405,410 shares outstanding at March, 31, 2014, and December 31, 2013, respectively	`CommonStockValue`	$76.00K	USD	Point-in-time
Common stock, $0.001 par value; 100,000,000 shares authorized; and 75,507,091 and 75,405,410 shares outstanding at March, 31, 2014, and December 31, 2013, respectively	`CommonStockValue`	$75.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$572.62M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$573.03M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$2.00K	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-10.00K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$361.29M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$360.94M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$933.97M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$934.05M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$1.16B	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$1.18B	USD	Point-in-time

Income Statement 42 line items

Line Item	Tag	Value	Unit	Period
Sales	`RevenueMineralSales`	$99.26M	USD	1 Quarter
Sales	`RevenueMineralSales`	$98.88M	USD	1 Quarter
Freight costs	`FreightCosts`	$8.10M	USD	1 Quarter
Freight costs	`FreightCosts`	$9.93M	USD	1 Quarter
Warehousing and handling costs	`WarehousingAndHandlingCosts`	$2.81M	USD	1 Quarter
Warehousing and handling costs	`WarehousingAndHandlingCosts`	$3.58M	USD	1 Quarter
Cost of goods sold	`MineralExtractionProcessingAndMarketingCosts`	$78.57M	USD	1 Quarter
Cost of goods sold	`MineralExtractionProcessingAndMarketingCosts`	$53.77M	USD	1 Quarter
Lower-of-cost-or-market inventory adjustments	`InventoryWriteDown`	$8.00K	USD	1 Quarter
Lower-of-cost-or-market inventory adjustments	`InventoryWriteDown`	$3.57M	USD	1 Quarter
Gross Margin	`GrossProfit`	$33.80M	USD	1 Quarter
Gross Margin	`GrossProfit`	$3.99M	USD	1 Quarter
Selling and administrative	`SellingGeneralAndAdministrativeExpense`	$6.75M	USD	1 Quarter
Selling and administrative	`SellingGeneralAndAdministrativeExpense`	$9.49M	USD	1 Quarter
Accretion of asset retirement obligation	`AssetRetirementObligationAccretionExpense`	$375.00K	USD	1 Quarter
Accretion of asset retirement obligation	`AssetRetirementObligationAccretionExpense`	$406.00K	USD	1 Quarter
Restructuring expense	`RestructuringCharges`	-	USD	1 Quarter
Restructuring expense	`RestructuringCharges`	$1.83M	USD	1 Quarter
Other operating (income) expense	`OtherOperatingIncomeExpenseNet`	$-171.00K	USD	1 Quarter
Other operating (income) expense	`OtherOperatingIncomeExpenseNet`	$2.95M	USD	1 Quarter
Operating (Loss) Income	`OperatingIncomeLoss`	$-2.04M	USD	1 Quarter
Operating (Loss) Income	`OperatingIncomeLoss`	$23.76M	USD	1 Quarter
Interest expense	`InterestExpenseIncludingGainLossOnDerivative`	$1.38M	USD	1 Quarter
Interest expense	`InterestExpenseIncludingGainLossOnDerivative`	$213.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$52.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$53.00K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$16.00K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$234.00K	USD	1 Quarter
(Loss) Income Before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$23.62M	USD	1 Quarter
(Loss) Income Before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-3.13M	USD	1 Quarter
Income Tax Benefit (Expense)	`IncomeTaxExpenseBenefit`	$-2.78M	USD	1 Quarter
Income Tax Benefit (Expense)	`IncomeTaxExpenseBenefit`	$8.70M	USD	1 Quarter
Net (Loss) Income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-355.00K	USD	1 Quarter
Net (Loss) Income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$14.92M	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	75.34M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	75.44M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	75.39M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	75.44M	shares	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	-	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.20	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.20	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	-	USD	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Interest Paid, Capitalized	`InterestPaidCapitalized`	-	USD	1 Quarter
Interest Paid, Capitalized	`InterestPaidCapitalized`	-	USD	1 Quarter
Net (loss) income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-355.00K	USD	1 Quarter
Net (loss) income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$14.92M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$8.38M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-2.78M	USD	1 Quarter
Depreciation, depletion, and accretion	`DepreciationDepletionAmortizationAndAccretion`	$14.14M	USD	1 Quarter
Depreciation, depletion, and accretion	`DepreciationDepletionAmortizationAndAccretion`	$19.65M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$1.03M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$1.14M	USD	1 Quarter
Lower-of-cost-or-market inventory adjustments	`InventoryWriteDown`	$8.00K	USD	1 Quarter
Lower-of-cost-or-market inventory adjustments	`InventoryWriteDown`	$3.57M	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-425.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-223.00K	USD	1 Quarter
Trade accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$9.43M	USD	1 Quarter
Trade accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$12.71M	USD	1 Quarter
Other receivables, net	`IncreaseDecreaseInOtherReceivables`	$3.32M	USD	1 Quarter
Other receivables, net	`IncreaseDecreaseInOtherReceivables`	$344.00K	USD	1 Quarter
Refundable income taxes	`IncreaseDecreaseInIncomeTaxesReceivable`	$-3.00K	USD	1 Quarter
Refundable income taxes	`IncreaseDecreaseInIncomeTaxesReceivable`	$-2.02M	USD	1 Quarter
Inventory, net	`IncreaseDecreaseInInventories`	$8.78M	USD	1 Quarter
Inventory, net	`IncreaseDecreaseInInventories`	$-6.74M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-714.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.00M	USD	1 Quarter
Accounts payable, accrued liabilities, and accrued employee compensation and benefits	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-4.29M	USD	1 Quarter
Accounts payable, accrued liabilities, and accrued employee compensation and benefits	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-335.00K	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-1.98M	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-700.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$17.32M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$11.62M	USD	1 Quarter
Additions to property, plant, equipment, and mineral properties	`PaymentsToAcquireProductiveAssets`	$31.92M	USD	1 Quarter
Additions to property, plant, equipment, and mineral properties	`PaymentsToAcquireProductiveAssets`	$61.15M	USD	1 Quarter
Proceeds from sale of property, plant, equipment, and mineral properties	`ProceedsFromSaleOfProductiveAssets`	$10.00K	USD	1 Quarter
Proceeds from sale of property, plant, equipment, and mineral properties	`ProceedsFromSaleOfProductiveAssets`	-	USD	1 Quarter
Purchases of investments	`PaymentsToAcquireInvestments`	-	USD	1 Quarter
Purchases of investments	`PaymentsToAcquireInvestments`	$5.00K	USD	1 Quarter
Proceeds from sale of investments	`ProceedsFromSaleMaturityAndCollectionsOfInvestments`	$18.05M	USD	1 Quarter
Proceeds from sale of investments	`ProceedsFromSaleMaturityAndCollectionsOfInvestments`	$21.59M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-39.55M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-13.87M	USD	1 Quarter
Employee tax withholding paid for restricted stock upon vesting	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$611.00K	USD	1 Quarter
Employee tax withholding paid for restricted stock upon vesting	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$577.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-577.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-611.00K	USD	1 Quarter
Net Change in Cash and Cash Equivalents	`NetCashProvidedByUsedInContinuingOperations`	$2.84M	USD	1 Quarter
Net Change in Cash and Cash Equivalents	`NetCashProvidedByUsedInContinuingOperations`	$-28.51M	USD	1 Quarter
Cash and Cash Equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.23M	USD	Point-in-time
Cash and Cash Equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$394.00K	USD	Point-in-time
Cash and Cash Equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$33.62M	USD	Point-in-time
Cash and Cash Equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.11M	USD	Point-in-time
Cash and Cash Equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.23M	USD	Point-in-time
Cash and Cash Equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$394.00K	USD	Point-in-time
Cash and Cash Equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$33.62M	USD	Point-in-time
Cash and Cash Equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$5.11M	USD	Point-in-time
Interest	`InterestIncludingSettlementsOnDerivatives`	$112.00K	USD	1 Quarter
Interest	`InterestIncludingSettlementsOnDerivatives`	$128.00K	USD	1 Quarter
Income taxes	`IncomeTaxesPaidNet`	$-2.02M	USD	1 Quarter
Income taxes	`IncomeTaxesPaidNet`	$2.19M	USD	1 Quarter
Accrued purchases for property, plant, equipment, and mineral properties	`CapitalExpendituresIncurredButNotYetPaid`	$27.01M	USD	1 Quarter
Accrued purchases for property, plant, equipment, and mineral properties	`CapitalExpendituresIncurredButNotYetPaid`	$13.17M	USD	1 Quarter

Stockholders Equity 10 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$933.97M	USD	Point-in-time
Balance	`StockholdersEquity`	$934.05M	USD	Point-in-time
Unrealized gain on investments available for sale, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$12.00K	USD	1 Quarter
Unrealized gain on investments available for sale, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$29.00K	USD	1 Quarter
Net (loss) income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-355.00K	USD	1 Quarter
Net (loss) income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$14.92M	USD	1 Quarter
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$1.03M	USD	1 Quarter
Vesting of restricted common stock, net of restricted common stock used to fund employee income tax withholding due upon vesting	`VestingOfRestrictedCommonStockNetOfRestrictedCommonStockUsedToFundEmployeeIncomeTaxWithholdingDueUponVestingValue`	$610.00K	USD	1 Quarter
Balance	`StockholdersEquity`	$933.97M	USD	Point-in-time
Balance	`StockholdersEquity`	$934.05M	USD	Point-in-time

Comprehensive Income 10 line items

Line Item	Tag	Value	Unit	Period
Net (Loss) Income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-355.00K	USD	1 Quarter
Net (Loss) Income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$14.92M	USD	1 Quarter
Pension liability adjustment, net of tax	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-43.00K	USD	1 Quarter
Pension liability adjustment, net of tax	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	-	USD	1 Quarter
Unrealized gain on investments available for sale, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$12.00K	USD	1 Quarter
Unrealized gain on investments available for sale, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$29.00K	USD	1 Quarter
Other Comprehensive Income	`OtherComprehensiveIncomeLossNetOfTax`	$72.00K	USD	1 Quarter
Other Comprehensive Income	`OtherComprehensiveIncomeLossNetOfTax`	$12.00K	USD	1 Quarter
Comprehensive (Loss) Income	`ComprehensiveIncomeNetOfTax`	$-343.00K	USD	1 Quarter
Comprehensive (Loss) Income	`ComprehensiveIncomeNetOfTax`	$14.99M	USD	1 Quarter

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