10-Q Filing

Intrepid Potash, Inc. CIK: 1421461 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001421461-18-000012`
Period End Date	20180331
Filing Date	20180424
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	ipi-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 65 Income Statement 41 Cash Flow Statement 59 Stockholders Equity 9

Balance Sheet 65 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`	400.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	400.00M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	127.65M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	127.69M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.07M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.08M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$20.77M	USD	Point-in-time
Trade, net	`AccountsReceivableNetCurrent`	$17.78M	USD	Point-in-time
Trade, net	`AccountsReceivableNetCurrent`	$29.61M	USD	Point-in-time
Other receivables, net	`OtherReceivablesNetCurrent`	$969.00K	USD	Point-in-time
Other receivables, net	`OtherReceivablesNetCurrent`	$762.00K	USD	Point-in-time
Refundable income taxes	`IncomeTaxesReceivable`	$2.66M	USD	Point-in-time
Inventory, net	`InventoryNet`	$83.13M	USD	Point-in-time
Inventory, net	`InventoryNet`	$75.92M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$5.17M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$6.09M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$111.48M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$117.75M	USD	Point-in-time
Property, plant and equipment, and mineral properties, net	`PropertyPlantAndEquipmentNet`	$364.54M	USD	Point-in-time
Property, plant and equipment, and mineral properties, net	`PropertyPlantAndEquipmentNet`	$359.36M	USD	Point-in-time
Long-term parts inventory, net	`LongTermPartsInventoryNoncurrent`	$30.61M	USD	Point-in-time
Long-term parts inventory, net	`LongTermPartsInventoryNoncurrent`	$31.11M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$3.96M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$3.80M	USD	Point-in-time
Total Assets	`Assets`	$512.02M	USD	Point-in-time
Total Assets	`Assets`	$510.59M	USD	Point-in-time
Trade	`AccountsPayableTradeCurrent`	$8.26M	USD	Point-in-time
Trade	`AccountsPayableTradeCurrent`	$11.10M	USD	Point-in-time
Related parties	`AccountsPayableRelatedPartiesCurrent`	$28.00K	USD	Point-in-time
Related parties	`AccountsPayableRelatedPartiesCurrent`	$31.00K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$180.00K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$8.62M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$8.07M	USD	Point-in-time
Accrued employee compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$4.32M	USD	Point-in-time
Accrued employee compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$3.58M	USD	Point-in-time
Advances on credit facility	`LinesOfCreditCurrent`	$1.50M	USD	Point-in-time
Advances on credit facility	`LinesOfCreditCurrent`	$3.90M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$10.00M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$10.00M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$3.75M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$65.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$37.49M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$35.92M	USD	Point-in-time
Long-term debt, net	`LongTermDebtNoncurrent`	$49.44M	USD	Point-in-time
Long-term debt, net	`LongTermDebtNoncurrent`	$49.47M	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$21.48M	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$21.89M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	-	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$102.00K	USD	Point-in-time
Total Liabilities	`Liabilities`	$107.28M	USD	Point-in-time
Total Liabilities	`Liabilities`	$108.50M	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.001 par value; 400,000,000 shares authorized; 127,688,437 and 127,646,530 shares outstanding at March 31, 2018, and December 31, 2017, respectively	`CommonStockValue`	$128.00K	USD	Point-in-time
Common stock, $0.001 par value; 400,000,000 shares authorized; 127,688,437 and 127,646,530 shares outstanding at March 31, 2018, and December 31, 2017, respectively	`CommonStockValue`	$128.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$645.81M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$646.71M	USD	Point-in-time
Retained deficit	`RetainedEarningsAccumulatedDeficit`	$-242.09M	USD	Point-in-time
Retained deficit	`RetainedEarningsAccumulatedDeficit`	$-243.85M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$402.09M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$404.74M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$512.02M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$510.59M	USD	Point-in-time

Income Statement 41 line items

Line Item	Tag	Value	Unit	Period
Sales	`RevenueMineralSales`	$48.66M	USD	1 Quarter
Sales	`RevenueMineralSales`	$53.20M	USD	1 Quarter
Freight costs	`FreightCosts`	$9.73M	USD	1 Quarter
Freight costs	`FreightCosts`	$8.72M	USD	1 Quarter
Warehousing and handling costs	`WarehousingAndHandlingCosts`	$2.77M	USD	1 Quarter
Warehousing and handling costs	`WarehousingAndHandlingCosts`	$2.28M	USD	1 Quarter
Cost of goods sold	`MineralExtractionProcessingAndMarketingCosts`	$33.28M	USD	1 Quarter
Cost of goods sold	`MineralExtractionProcessingAndMarketingCosts`	$35.87M	USD	1 Quarter
Lower-of-cost-or-market inventory adjustments	`InventoryWriteDown`	$3.82M	USD	1 Quarter
Lower-of-cost-or-market inventory adjustments	`InventoryWriteDown`	$705.00K	USD	1 Quarter
Gross Margin (Deficit)	`GrossProfit`	$7.20M	USD	1 Quarter
Gross Margin (Deficit)	`GrossProfit`	$-2.53M	USD	1 Quarter
Selling and administrative	`SellingGeneralAndAdministrativeExpense`	$3.97M	USD	1 Quarter
Selling and administrative	`SellingGeneralAndAdministrativeExpense`	$4.40M	USD	1 Quarter
Accretion of asset retirement obligation	`AssetRetirementObligationAccretionExpense`	$417.00K	USD	1 Quarter
Accretion of asset retirement obligation	`AssetRetirementObligationAccretionExpense`	$389.00K	USD	1 Quarter
Care and maintenance expense	`OperatingCostsAndExpenses`	$128.00K	USD	1 Quarter
Care and maintenance expense	`OperatingCostsAndExpenses`	$692.00K	USD	1 Quarter
Other operating expense	`OtherCostAndExpenseOperating`	$1.65M	USD	1 Quarter
Other operating expense	`OtherCostAndExpenseOperating`	$168.00K	USD	1 Quarter
Operating Income (Loss)	`OperatingIncomeLoss`	$-9.67M	USD	1 Quarter
Operating Income (Loss)	`OperatingIncomeLoss`	$2.52M	USD	1 Quarter
Interest Expense, net	`InterestExpense`	$878.00K	USD	1 Quarter
Interest Expense, net	`InterestExpense`	$4.42M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$98.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$3.00K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$413.00K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$20.00K	USD	1 Quarter
Income (Loss) Before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-13.67M	USD	1 Quarter
Income (Loss) Before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.76M	USD	1 Quarter
Income Tax Expense	`IncomeTaxExpenseBenefit`	$5.00K	USD	1 Quarter
Net Income	`NetIncomeLoss`	$-13.68M	USD	1 Quarter
Net Income	`NetIncomeLoss`	$1.76M	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	127.66M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	81.99M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	81.99M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	130.76M	shares	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.17	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.01	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.01	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.17	USD	1 Quarter

Cash Flow Statement 59 line items

Line Item	Tag	Value	Unit	Period
Net Income (Loss)	`NetIncomeLoss`	$1.76M	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-13.68M	USD	1 Quarter
Depreciation, depletion and accretion	`DepreciationDepletionAndAmortization`	$8.93M	USD	1 Quarter
Depreciation, depletion and accretion	`DepreciationDepletionAndAmortization`	$9.32M	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$821.00K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$183.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$989.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$947.00K	USD	1 Quarter
Lower-of-cost-or-market inventory adjustments	`InventoryWriteDown`	$3.82M	USD	1 Quarter
Lower-of-cost-or-market inventory adjustments	`InventoryWriteDown`	$705.00K	USD	1 Quarter
(Gain) loss on disposal of assets	`GainLossOnDispositionOfAssets1`	$-1.56M	USD	1 Quarter
(Gain) loss on disposal of assets	`GainLossOnDispositionOfAssets1`	$34.00K	USD	1 Quarter
Trade accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$11.83M	USD	1 Quarter
Trade accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$8.78M	USD	1 Quarter
Other receivables, net	`IncreaseDecreaseInOtherReceivables`	$399.00K	USD	1 Quarter
Other receivables, net	`IncreaseDecreaseInOtherReceivables`	$207.00K	USD	1 Quarter
Refundable income taxes	`IncreaseDecreaseInIncomeTaxesReceivable`	$-2.84M	USD	1 Quarter
Refundable income taxes	`IncreaseDecreaseInIncomeTaxesReceivable`	$4.00K	USD	1 Quarter
Inventory, net	`IncreaseDecreaseInInventories`	$-1.64M	USD	1 Quarter
Inventory, net	`IncreaseDecreaseInInventories`	$-6.01M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-914.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-3.87M	USD	1 Quarter
Accounts payable, accrued liabilities, and accrued employee compensation and benefits	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-64.00K	USD	1 Quarter
Accounts payable, accrued liabilities, and accrued employee compensation and benefits	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.00K	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$3.68M	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-819.00K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$13.90M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.71M	USD	1 Quarter
Additions to property, plant, equipment, and mineral properties	`PaymentsToAcquireProductiveAssets`	$6.47M	USD	1 Quarter
Additions to property, plant, equipment, and mineral properties	`PaymentsToAcquireProductiveAssets`	$2.42M	USD	1 Quarter
Proceeds from sale of property, plant, equipment, and mineral properties	`ProceedsFromSaleOfProductiveAssets`	$5.55M	USD	1 Quarter
Proceeds from sale of property, plant, equipment, and mineral properties	`ProceedsFromSaleOfProductiveAssets`	$34.00K	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-6.44M	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$3.13M	USD	1 Quarter
Issuance of common stock, net of transaction costs	`ProceedsFromIssuanceOfCommonStock`	$57.47M	USD	1 Quarter
Repayments of long-term debt	`RepaymentsOfLongTermDebt`	$46.00M	USD	1 Quarter
Proceeds from short-term borrowings on credit facility	`ProceedsFromLinesOfCredit`	$13.50M	USD	1 Quarter
Repayments of short-term borrowings on credit facility	`RepaymentsOfLinesOfCredit`	$15.90M	USD	1 Quarter
Employee tax withholding paid for restricted stock upon vesting	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$109.00K	USD	1 Quarter
Employee tax withholding paid for restricted stock upon vesting	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$62.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$11.00K	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$11.36M	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-2.45M	USD	1 Quarter
Net Change in Cash, Cash Equivalents and Restricted Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$12.78M	USD	1 Quarter
Net Change in Cash, Cash Equivalents and Restricted Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$5.02M	USD	1 Quarter
Cash, Cash Equivalents, and Restricted Cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.47M	USD	Point-in-time
Cash, Cash Equivalents, and Restricted Cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$21.25M	USD	Point-in-time
Cash, Cash Equivalents, and Restricted Cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.55M	USD	Point-in-time
Cash, Cash Equivalents, and Restricted Cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.57M	USD	Point-in-time
Cash, Cash Equivalents, and Restricted Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.47M	USD	Point-in-time
Cash, Cash Equivalents, and Restricted Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$21.25M	USD	Point-in-time
Cash, Cash Equivalents, and Restricted Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.55M	USD	Point-in-time
Cash, Cash Equivalents, and Restricted Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.57M	USD	Point-in-time
Interest	`InterestPaidNet`	$2.47M	USD	1 Quarter
Interest	`InterestPaidNet`	$95.00K	USD	1 Quarter
Income taxes	`IncomeTaxesPaidNet`	$-2.84M	USD	1 Quarter
Income taxes	`IncomeTaxesPaidNet`	$10.00K	USD	1 Quarter
Accrued purchases for property, plant, equipment, and mineral properties	`CapitalExpendituresIncurredButNotYetPaid`	$933.00K	USD	1 Quarter
Accrued purchases for property, plant, equipment, and mineral properties	`CapitalExpendituresIncurredButNotYetPaid`	$214.00K	USD	1 Quarter

Stockholders Equity 9 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$402.09M	USD	Point-in-time
Balance	`StockholdersEquity`	$404.74M	USD	Point-in-time
Net Income (Loss)	`NetIncomeLoss`	$1.76M	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-13.68M	USD	1 Quarter
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$947.00K	USD	1 Quarter
Adjustments related to tax withholding for share-based compensation	`AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation`	$62.00K	USD	1 Quarter
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$11.00K	USD	1 Quarter
Balance	`StockholdersEquity`	$402.09M	USD	Point-in-time
Balance	`StockholdersEquity`	$404.74M	USD	Point-in-time

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