10-Q Filing

RAMACO RESOURCES, INC. CIK: 1687187 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001558370-20-006416`
Period End Date	20200331
Filing Date	20200512
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	metc-20200331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 32 Cash Flow Statement 52 Stockholders Equity 12

Balance Sheet 70 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.53M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.32M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$19.26M	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$14.42M	USD	Point-in-time
Preferred stock, shares Issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Inventories	`InventoryNet`	$23.46M	USD	Point-in-time
Inventories	`InventoryNet`	$15.26M	USD	Point-in-time
Preferred stock, shares Issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseCurrent`	$4.27M	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseCurrent`	$4.94M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Total current assets	`AssetsCurrent`	$44.32M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	260.00M	shares	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	260.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$58.14M	USD	Point-in-time
Property, plant and equipment net	`PropertyPlantAndEquipmentNet`	$178.20M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	42.66M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	40.93M	shares	Point-in-time
Property, plant and equipment net	`PropertyPlantAndEquipmentNet`	$181.90M	USD	Point-in-time
Advanced coal royalties	`AdvanceRoyaltiesNoncurrent`	$3.64M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	40.93M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	42.66M	shares	Point-in-time
Advanced coal royalties	`AdvanceRoyaltiesNoncurrent`	$3.27M	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$1.02M	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$983.00K	USD	Point-in-time
Total Assets	`Assets`	$244.66M	USD	Point-in-time
Total Assets	`Assets`	$226.81M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$10.66M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$13.10M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$11.74M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$11.48M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationCurrent`	$19.00K	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationCurrent`	$361.00K	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$3.33M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$3.33M	USD	Point-in-time
Other	`OtherLiabilitiesCurrent`	$656.00K	USD	Point-in-time
Other	`OtherLiabilitiesCurrent`	$375.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$26.41M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$28.65M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationsNoncurrent`	$14.59M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationsNoncurrent`	$14.39M	USD	Point-in-time
Long-term debt, net	`LongTermDebtNoncurrent`	$9.61M	USD	Point-in-time
Long-term debt, net	`LongTermDebtNoncurrent`	$22.30M	USD	Point-in-time
Deferred tax liability	`DeferredIncomeTaxLiabilitiesNet`	$5.26M	USD	Point-in-time
Deferred tax liability	`DeferredIncomeTaxLiabilitiesNet`	$5.38M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$854.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$975.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$56.73M	USD	Point-in-time
Total liabilities	`Liabilities`	$71.69M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.01 par value, 260,000,000 shares authorized, 40,933,831 and 40,082,467 shares issued and outstanding, respectively	`CommonStockValue`	$410.00K	USD	Point-in-time
Common stock, $0.01 par value, 260,000,000 shares authorized, 40,933,831 and 40,082,467 shares issued and outstanding, respectively	`CommonStockValue`	$427.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$154.96M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$155.86M	USD	Point-in-time
Retained earnings (deficit)	`RetainedEarningsAccumulatedDeficit`	$14.72M	USD	Point-in-time
Retained earnings (deficit)	`RetainedEarningsAccumulatedDeficit`	$16.68M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$141.11M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$148.89M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$170.08M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$172.97M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$226.81M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$244.66M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$41.94M	USD	1 Quarter
Revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$57.46M	USD	1 Quarter
Cost of sales (exclusive of items shown separately below)	`CostOfGoodsAndServicesSold`	$41.01M	USD	1 Quarter
Cost of sales (exclusive of items shown separately below)	`CostOfGoodsAndServicesSold`	$30.93M	USD	1 Quarter
Asset retirement obligation accretion	`AssetRetirementObligationAccretionExpense`	$141.00K	USD	1 Quarter
Asset retirement obligation accretion	`AssetRetirementObligationAccretionExpense`	$128.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$4.12M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$5.00M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.96M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$4.72M	USD	1 Quarter
Total cost and expenses	`CostsAndExpenses`	$40.79M	USD	1 Quarter
Total cost and expenses	`CostsAndExpenses`	$49.21M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$1.14M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$8.25M	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$1.21M	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$298.00K	USD	1 Quarter
Interest expense, net	`InterestExpense`	$307.00K	USD	1 Quarter
Interest expense, net	`InterestExpense`	$279.00K	USD	1 Quarter
Income before tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.07M	USD	1 Quarter
Income before tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$8.24M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$110.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$1.36M	USD	1 Quarter
Net income	`NetIncomeLoss`	$6.88M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.96M	USD	1 Quarter
Basic earnings (in dollars per share)	`EarningsPerShareBasic`	$0.05	USD	1 Quarter
Basic earnings (in dollars per share)	`EarningsPerShareBasic`	$0.17	USD	1 Quarter
Diluted earnings (in dollars per share)	`EarningsPerShareDiluted`	$0.17	USD	1 Quarter
Diluted earnings (in dollars per share)	`EarningsPerShareDiluted`	$0.05	USD	1 Quarter
Basic weighted average shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	41,760.00	shares	1 Quarter
Basic weighted average shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	40,604.00	shares	1 Quarter
Diluted weighted average shares outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	40,652.00	shares	1 Quarter
Diluted weighted average shares outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	41,760.00	shares	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$6.88M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.96M	USD	1 Quarter
Accretion of asset retirement obligations	`AssetRetirementObligationAccretionExpense`	$141.00K	USD	1 Quarter
Accretion of asset retirement obligations	`AssetRetirementObligationAccretionExpense`	$128.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$4.12M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$5.00M	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$14.00K	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$14.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$923.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$894.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$110.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$1.34M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsAndNotesReceivable`	$16.56M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsAndNotesReceivable`	$-4.84M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$554.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$-1.01M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$842.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$8.20M	USD	1 Quarter
Other assets and liabilities	`IncreaseDecreaseInOtherOperatingAssets`	$214.00K	USD	1 Quarter
Other assets and liabilities	`IncreaseDecreaseInOtherOperatingAssets`	$-63.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-4.16M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$2.65M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$1.03M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-256.00K	USD	1 Quarter
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$6.42M	USD	1 Quarter
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-6.08M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$8.20M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$8.90M	USD	1 Quarter
Proceeds from borrowings	`ProceedsFromIssuanceOfDebt`	$22.20M	USD	1 Quarter
Proceeds from borrowings	`ProceedsFromIssuanceOfDebt`	$26.50M	USD	1 Quarter
Repayment of borrowings	`RepaymentsOfDebt`	$17.25M	USD	1 Quarter
Repayment of borrowings	`RepaymentsOfDebt`	$9.53M	USD	1 Quarter
Repayments of financed insurance payable	`RepaymentsOfFinancedInsurancePayable`	$171.00K	USD	1 Quarter
Repayments of financed insurance payable	`RepaymentsOfFinancedInsurancePayable`	$281.00K	USD	1 Quarter
Net cash from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$12.39M	USD	1 Quarter
Net cash from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$9.08M	USD	1 Quarter
Net change in cash and cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$9.90M	USD	1 Quarter
Net change in cash and cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-5.20M	USD	1 Quarter
Cash and cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$7.38M	USD	Point-in-time
Cash and cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$16.77M	USD	Point-in-time
Cash and cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.18M	USD	Point-in-time
Cash and cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.87M	USD	Point-in-time
Cash and cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$7.38M	USD	Point-in-time
Cash and cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$16.77M	USD	Point-in-time
Cash and cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.18M	USD	Point-in-time
Cash and cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.87M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$249.00K	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$242.00K	USD	1 Quarter
Capital expenditures included in accounts payable and accrued expenses	`CapitalExpendituresIncurredButNotYetPaid`	$2.69M	USD	1 Quarter
Capital expenditures included in accounts payable and accrued expenses	`CapitalExpendituresIncurredButNotYetPaid`	$4.33M	USD	1 Quarter
Additional asset retirement obligations incurred	`AssetRetirementObligationLiabilitiesIncurredOrAssumed`	$43.00K	USD	1 Quarter
Additional asset retirement obligations incurred	`AssetRetirementObligationLiabilitiesIncurredOrAssumed`	$9.00K	USD	1 Quarter

Stockholders Equity 12 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$141.11M	USD	Point-in-time
Balance	`StockholdersEquity`	$148.89M	USD	Point-in-time
Balance	`StockholdersEquity`	$170.08M	USD	Point-in-time
Balance	`StockholdersEquity`	$172.97M	USD	Point-in-time
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$923.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$894.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$6.88M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.96M	USD	1 Quarter
Balance	`StockholdersEquity`	$141.11M	USD	Point-in-time
Balance	`StockholdersEquity`	$148.89M	USD	Point-in-time
Balance	`StockholdersEquity`	$170.08M	USD	Point-in-time
Balance	`StockholdersEquity`	$172.97M	USD	Point-in-time

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