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10-Q Filing

Intrepid Potash, Inc. CIK: 1421461 Q1 2021
Filing Information
Form Type 10-Q
Accession Number 0001421461-21-000018
Period End Date 20210331
Filing Date 20210504
Fiscal Year 2021
Fiscal Period Q1
XBRL Instance ipi-20210331_htm.xml
Filing Contents
Balance Sheet 67 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 40.00M shares Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 40.00M shares Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 13.05M shares Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 13.07M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $44.37M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $35.99M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $19.52M USD Point-in-time
Trade, net AccountsReceivableNetCurrent $36.90M USD Point-in-time
Trade, net AccountsReceivableNetCurrent $22.80M USD Point-in-time
Other receivables, net OtherReceivablesNetCurrent $1.58M USD Point-in-time
Other receivables, net OtherReceivablesNetCurrent $2.30M USD Point-in-time
Inventory, net InventoryNet $78.92M USD Point-in-time
Inventory, net InventoryNet $88.67M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $3.23M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $2.91M USD Point-in-time
Total current assets AssetsCurrent $157.02M USD Point-in-time
Total current assets AssetsCurrent $135.79M USD Point-in-time
Property, plant and equipment, and mineral properties, net PropertyPlantAndEquipmentNet $348.94M USD Point-in-time
Property, plant and equipment, and mineral properties, net PropertyPlantAndEquipmentNet $355.50M USD Point-in-time
Water rights IndefiniteLivedIntangibleAssetsExcludingGoodwill $19.18M USD Point-in-time
Water rights IndefiniteLivedIntangibleAssetsExcludingGoodwill $19.18M USD Point-in-time
Long-term parts inventory, net LongTermPartsInventoryNoncurrent $29.36M USD Point-in-time
Long-term parts inventory, net LongTermPartsInventoryNoncurrent $28.90M USD Point-in-time
Other assets, net OtherAssetsNoncurrent $10.68M USD Point-in-time
Other assets, net OtherAssetsNoncurrent $10.82M USD Point-in-time
Total Assets Assets $550.19M USD Point-in-time
Total Assets Assets $565.18M USD Point-in-time
Accounts payable AccountsPayableTradeCurrent $7.28M USD Point-in-time
Accounts payable AccountsPayableTradeCurrent $13.65M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $13.08M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $12.70M USD Point-in-time
Accrued employee compensation and benefits EmployeeRelatedLiabilitiesCurrent $4.42M USD Point-in-time
Accrued employee compensation and benefits EmployeeRelatedLiabilitiesCurrent $5.93M USD Point-in-time
Current portion of long-term debt, net LongTermDebtCurrent $10.00M USD Point-in-time
Current portion of long-term debt, net LongTermDebtCurrent $10.00M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $32.82M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $36.26M USD Point-in-time
Total current liabilities LiabilitiesCurrent $67.22M USD Point-in-time
Total current liabilities LiabilitiesCurrent $78.92M USD Point-in-time
Advances on credit facility LongTermLineOfCredit $29.82M USD Point-in-time
Advances on credit facility LongTermLineOfCredit $29.82M USD Point-in-time
Long-term debt, net LongTermNotesAndLoans $14.93M USD Point-in-time
Long-term debt, net LongTermNotesAndLoans $14.91M USD Point-in-time
Asset retirement obligation AssetRetirementObligationsNoncurrent $24.31M USD Point-in-time
Asset retirement obligation AssetRetirementObligationsNoncurrent $23.87M USD Point-in-time
Operating lease liabilities OperatingLeaseLiabilityNoncurrent $2.14M USD Point-in-time
Operating lease liabilities OperatingLeaseLiabilityNoncurrent $1.85M USD Point-in-time
Other non-current liabilities OtherLiabilitiesNoncurrent $961.00K USD Point-in-time
Other non-current liabilities OtherLiabilitiesNoncurrent $928.00K USD Point-in-time
Total Liabilities Liabilities $138.93M USD Point-in-time
Total Liabilities Liabilities $150.74M 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; 40,000,000 shares authorized; 13,065,654 and 13,049,820 shares outstanding at March 31, 2021 and December 31, 2020, respectively CommonStockValue $13.00K USD Point-in-time
Common stock, $0.001 par value; 40,000,000 shares authorized; 13,065,654 and 13,049,820 shares outstanding at March 31, 2021 and December 31, 2020, respectively CommonStockValue $13.00K USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $657.57M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $656.84M USD Point-in-time
Retained deficit RetainedEarningsAccumulatedDeficit $-245.59M USD Point-in-time
Retained deficit RetainedEarningsAccumulatedDeficit $-243.14M USD Point-in-time
Total Stockholders' Equity StockholdersEquity $428.24M USD Point-in-time
Total Stockholders' Equity StockholdersEquity $414.44M USD Point-in-time
Total Stockholders' Equity StockholdersEquity $434.66M USD Point-in-time
Total Stockholders' Equity StockholdersEquity $411.26M USD Point-in-time
Total Liabilities and Stockholders' Equity LiabilitiesAndStockholdersEquity $565.18M USD Point-in-time
Total Liabilities and Stockholders' Equity LiabilitiesAndStockholdersEquity $550.19M USD Point-in-time
Income Statement 38 line items
Line Item Tag Value Unit Period
Lower of cost or net realizable value inventory adjustments InventoryWriteDown $550.00K USD 1 Quarter
Lower of cost or net realizable value inventory adjustments InventoryWriteDown - USD 1 Quarter
Gross Margin GrossProfit $9.11M USD 1 Quarter
Gross Margin GrossProfit $5.62M USD 1 Quarter
Selling and administrative SellingGeneralAndAdministrativeExpense $6.60M USD 1 Quarter
Selling and administrative SellingGeneralAndAdministrativeExpense $5.79M USD 1 Quarter
Accretion of asset retirement obligation AssetRetirementObligationAccretionExpense $441.00K USD 1 Quarter
Accretion of asset retirement obligation AssetRetirementObligationAccretionExpense $435.00K USD 1 Quarter
Litigation settlement GainLossRelatedToLitigationSettlement $-10.00M USD Point-in-time
Litigation settlement GainLossRelatedToLitigationSettlement $-10.07M USD 1 Quarter
Litigation settlement GainLossRelatedToLitigationSettlement - USD 1 Quarter
Loss (gain) on sale of asset GainLossOnDispositionOfAssets1 $4.70M USD Point-in-time
Loss (gain) on sale of asset GainLossOnDispositionOfAssets1 $4.70M USD 1 Quarter
Loss (gain) on sale of asset GainLossOnDispositionOfAssets1 $-2.00K USD 1 Quarter
Other operating expense (income) OtherOperatingIncomeExpenseNet $-6.00K USD 1 Quarter
Other operating expense (income) OtherOperatingIncomeExpenseNet $11.00K USD 1 Quarter
Operating Income (Loss) OperatingIncomeLoss $-6.78M USD 1 Quarter
Operating Income (Loss) OperatingIncomeLoss $2.87M USD 1 Quarter
Interest Expense, net InterestExpense $792.00K USD 1 Quarter
Interest Expense, net InterestExpense $426.00K USD 1 Quarter
Interest income InvestmentIncomeInterest - USD 1 Quarter
Interest income InvestmentIncomeInterest $116.00K USD 1 Quarter
Other income OtherNonoperatingIncomeExpense $9.00K USD 1 Quarter
Other income OtherNonoperatingIncomeExpense $16.00K USD 1 Quarter
Income (Loss) Before Income Taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $-7.44M USD 1 Quarter
Income (Loss) Before Income Taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $2.45M USD 1 Quarter
Income Tax Benefit IncomeTaxExpenseBenefit - USD 1 Quarter
Income Tax Benefit IncomeTaxExpenseBenefit $-42.00K USD 1 Quarter
Net Income (Loss) NetIncomeLoss $2.45M USD 1 Quarter
Net Income (Loss) NetIncomeLoss $-7.40M USD 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 12.96M shares 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 13.05M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 12.96M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 13.30M shares 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $0.19 USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $-0.57 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $0.18 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $-0.57 USD 1 Quarter
Cash Flow Statement 80 line items
Line Item Tag Value Unit Period
Net income (loss) NetIncomeLoss $-7.40M USD 1 Quarter
Net income (loss) NetIncomeLoss $2.45M USD 1 Quarter
Depreciation, depletion, and amortization DepreciationDepletionAndAmortizationExcludingIntangibleAssets $9.59M USD 1 Quarter
Depreciation, depletion, and amortization DepreciationDepletionAndAmortizationExcludingIntangibleAssets $9.48M USD 1 Quarter
Accretion of asset retirement obligation AssetRetirementObligationAccretionExpense $441.00K USD 1 Quarter
Accretion of asset retirement obligation AssetRetirementObligationAccretionExpense $435.00K USD 1 Quarter
Amortization of deferred financing costs AmortizationOfFinancingCosts $68.00K USD 1 Quarter
Amortization of deferred financing costs AmortizationOfFinancingCosts $86.00K USD 1 Quarter
Amortization of Intangible Assets AmortizationOfIntangibleAssets $80.00K USD 1 Quarter
Amortization of Intangible Assets AmortizationOfIntangibleAssets $80.00K USD 1 Quarter
Stock-based compensation ShareBasedCompensation $1.03M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $890.00K USD 1 Quarter
Lower of cost or net realizable value inventory adjustments InventoryWriteDown $550.00K USD 1 Quarter
Lower of cost or net realizable value inventory adjustments InventoryWriteDown - USD 1 Quarter
Accrual for litigation settlement GainLossRelatedToLitigationSettlement - USD 1 Quarter
Accrual for litigation settlement GainLossRelatedToLitigationSettlement $-10.07M USD 1 Quarter
Accrual for litigation settlement GainLossRelatedToLitigationSettlement $-10.00M USD Point-in-time
Loss (gain) on disposal of assets GainLossOnDispositionOfAssets1 $-2.00K USD 1 Quarter
Loss (gain) on disposal of assets GainLossOnDispositionOfAssets1 $4.70M USD 1 Quarter
Loss (gain) on disposal of assets GainLossOnDispositionOfAssets1 $4.70M USD Point-in-time
Allowance for doubtful accounts ProvisionForDoubtfulAccounts - USD 1 Quarter
Allowance for doubtful accounts ProvisionForDoubtfulAccounts $275.00K USD 1 Quarter
Trade accounts receivable, net IncreaseDecreaseInAccountsReceivable $14.10M USD 1 Quarter
Trade accounts receivable, net IncreaseDecreaseInAccountsReceivable $8.39M USD 1 Quarter
Other receivables, net IncreaseDecreaseInOtherReceivables $308.00K USD 1 Quarter
Other receivables, net IncreaseDecreaseInOtherReceivables $720.00K USD 1 Quarter
Inventory, net IncreaseDecreaseInInventories $-9.29M USD 1 Quarter
Inventory, net IncreaseDecreaseInInventories $-4.98M USD 1 Quarter
Prepaid expenses and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-358.00K USD 1 Quarter
Prepaid expenses and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-857.00K USD 1 Quarter
Accounts payable, accrued liabilities, and accrued employee compensation and benefits IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $8.12M USD 1 Quarter
Accounts payable, accrued liabilities, and accrued employee compensation and benefits IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $7.98M USD 1 Quarter
Operating lease liabilities IncreaseDecreaseInOperatingLeaseLiabilities $-525.00K USD 1 Quarter
Operating lease liabilities IncreaseDecreaseInOperatingLeaseLiabilities $-552.00K USD 1 Quarter
Other liabilities IncreaseDecreaseInOtherOperatingLiabilities $3.42M USD 1 Quarter
Other liabilities IncreaseDecreaseInOtherOperatingLiabilities $41.00K USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $14.77M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $19.11M USD 1 Quarter
Additions to property, plant, equipment, mineral properties, and other assets PaymentsToAcquirePropertyPlantAndEquipment $5.71M USD 1 Quarter
Additions to property, plant, equipment, mineral properties, and other assets PaymentsToAcquirePropertyPlantAndEquipment $2.36M USD 1 Quarter
Proceeds from sale of assets ProceedsFromSaleOfProductiveAssets $4.79M USD 1 Quarter
Proceeds from sale of assets ProceedsFromSaleOfProductiveAssets $4.80M USD Point-in-time
Proceeds from sale of assets ProceedsFromSaleOfProductiveAssets $47.00K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-924.00K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-2.31M USD 1 Quarter
Debt prepayment costs PaymentsOfDebtExtinguishmentCosts - USD 1 Quarter
Debt prepayment costs PaymentsOfDebtExtinguishmentCosts $2.00K USD 1 Quarter
Repayments of long-term debt RepaymentsOfLongTermDebt $22.00K USD 1 Quarter
Repayments of long-term debt RepaymentsOfLongTermDebt - USD 1 Quarter
Proceeds from short-term borrowings on credit facility ProceedsFromLinesOfCredit $10.00M USD 1 Quarter
Proceeds from short-term borrowings on credit facility ProceedsFromLinesOfCredit - USD 1 Quarter
Payments of financing lease FinanceLeasePrincipalPayments - USD 1 Quarter
Payments of financing lease FinanceLeasePrincipalPayments $107.00K USD 1 Quarter
Capitalized debt fees PaymentsOfDebtIssuanceCosts - USD 1 Quarter
Capitalized debt fees PaymentsOfDebtIssuanceCosts - USD 1 Quarter
Employee tax withholding paid for restricted stock upon vesting PaymentsRelatedToTaxWithholdingForShareBasedCompensation $49.00K USD 1 Quarter
Employee tax withholding paid for restricted stock upon vesting PaymentsRelatedToTaxWithholdingForShareBasedCompensation $204.00K USD 1 Quarter
Proceeds from exercise of stock options ProceedsFromStockOptionsExercised $43.00K USD 1 Quarter
Net cash (used in) provided by financing activities NetCashProvidedByUsedInFinancingActivities $9.95M USD 1 Quarter
Net cash (used in) provided by financing activities NetCashProvidedByUsedInFinancingActivities $-292.00K USD 1 Quarter
Net Change in Cash, Cash Equivalents and Restricted Cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $16.50M USD 1 Quarter
Net Change in Cash, Cash Equivalents and Restricted Cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $23.80M USD 1 Quarter
Cash, Cash Equivalents, and Restricted Cash, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $36.69M USD Point-in-time
Cash, Cash Equivalents, and Restricted Cash, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $21.24M USD Point-in-time
Cash, Cash Equivalents, and Restricted Cash, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $45.04M USD Point-in-time
Cash, Cash Equivalents, and Restricted Cash, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $20.18M USD Point-in-time
Cash, Cash Equivalents, and Restricted Cash, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $20.18M USD Point-in-time
Cash, Cash Equivalents, and Restricted Cash, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $45.04M USD Point-in-time
Cash, Cash Equivalents, and Restricted Cash, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $36.69M USD Point-in-time
Cash, Cash Equivalents, and Restricted Cash, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $21.24M USD Point-in-time
Interest InterestPaidNet $167.00K USD 1 Quarter
Interest InterestPaidNet $227.00K USD 1 Quarter
Income taxes IncomeTaxesPaidNet $8.00K USD 1 Quarter
Income taxes IncomeTaxesPaidNet - USD 1 Quarter
Amounts included in the measurement of operating lease liabilities AmountsIncludedInTheMeasurementOfOperatingLeaseLiabilities $583.00K USD 1 Quarter
Amounts included in the measurement of operating lease liabilities AmountsIncludedInTheMeasurementOfOperatingLeaseLiabilities $637.00K USD 1 Quarter
Accrued purchases for property, plant, equipment, and mineral properties CapitalExpendituresIncurredButNotYetPaid $622.00K USD 1 Quarter
Accrued purchases for property, plant, equipment, and mineral properties CapitalExpendituresIncurredButNotYetPaid $2.56M USD 1 Quarter
Right-of-use assets exchanged for operating lease liabilities Rightofuseassetsexchangedfornewoperatingleaseliabilities $104.00K USD 1 Quarter
Right-of-use assets exchanged for operating lease liabilities Rightofuseassetsexchangedfornewoperatingleaseliabilities $340.00K USD 1 Quarter
Stockholders Equity 15 line items
Line Item Tag Value Unit Period
Balance StockholdersEquity $428.24M USD Point-in-time
Balance StockholdersEquity $414.44M USD Point-in-time
Balance StockholdersEquity $434.66M USD Point-in-time
Balance StockholdersEquity $411.26M USD Point-in-time
Exercise of stock options StockIssuedDuringPeriodValueStockOptionsExercised $43.00K USD 1 Quarter
Net income (loss) NetIncomeLoss $-7.40M USD 1 Quarter
Net income (loss) NetIncomeLoss $2.45M USD 1 Quarter
Stock-based compensation StockIssuedDuringPeriodValueShareBasedCompensation $890.00K 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 AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation $49.00K USD 1 Quarter
Vesting of restricted common stock, net of restricted common stock used to fund employee income tax withholding due upon vesting AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation $204.00K USD 1 Quarter
Balance StockholdersEquity $428.24M USD Point-in-time
Balance StockholdersEquity $414.44M USD Point-in-time
Balance StockholdersEquity $434.66M USD Point-in-time
Balance StockholdersEquity $411.26M USD Point-in-time

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

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