10-Q Filing

RAMACO RESOURCES, INC. CIK: 1687187 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001558370-22-008756`
Period End Date	20220331
Filing Date	20220513
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	metc-20220331x10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 78 Income Statement 32 Cash Flow Statement 58 Stockholders Equity 13

Balance Sheet 78 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
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$21.89M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$71.47M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$47.65M	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$44.45M	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares Issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares Issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Inventories	`InventoryNet`	$15.79M	USD	Point-in-time
Inventories	`InventoryNet`	$19.54M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseCurrent`	$4.63M	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseCurrent`	$2.94M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	260.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$141.60M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	260.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$86.76M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$227.08M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	44.27M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	44.09M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$245.93M	USD	Point-in-time
Financing lease right-of-use assets, net	`FinanceLeaseRightOfUseAsset`	$12.30M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	44.27M	shares	Point-in-time
Financing lease right-of-use assets, net	`FinanceLeaseRightOfUseAsset`	$9.13M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	44.09M	shares	Point-in-time
Advanced coal royalties	`AdvanceRoyaltiesNoncurrent`	$4.64M	USD	Point-in-time
Advanced coal royalties	`AdvanceRoyaltiesNoncurrent`	$5.58M	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$1.89M	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$491.00K	USD	Point-in-time
Total Assets	`Assets`	$406.36M	USD	Point-in-time
Total Assets	`Assets`	$329.03M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$15.35M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$40.41M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$19.41M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$23.95M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationCurrent`	$489.00K	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationCurrent`	$489.00K	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$7.67M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$7.13M	USD	Point-in-time
Current portion of financing lease obligations	`FinanceLeaseLiabilityCurrent`	$4.08M	USD	Point-in-time
Current portion of financing lease obligations	`FinanceLeaseLiabilityCurrent`	$3.46M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$175.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$280.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$76.23M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$46.66M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationsNoncurrent`	$23.22M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationsNoncurrent`	$22.06M	USD	Point-in-time
Long-term debt, net	`LongTermDebtNoncurrent`	$3.34M	USD	Point-in-time
Long-term debt, net	`LongTermDebtNoncurrent`	$2.70M	USD	Point-in-time
Long-term financing lease obligations, net	`FinanceLeaseLiabilityNoncurrent`	$5.97M	USD	Point-in-time
Long-term financing lease obligations, net	`FinanceLeaseLiabilityNoncurrent`	$4.60M	USD	Point-in-time
Senior notes, net	`SeniorNotes`	$32.36M	USD	Point-in-time
Senior notes, net	`SeniorNotes`	$32.48M	USD	Point-in-time
Deferred tax liability, net	`DeferredIncomeTaxLiabilitiesNet`	$6.41M	USD	Point-in-time
Deferred tax liability, net	`DeferredIncomeTaxLiabilitiesNet`	$11.42M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$2.41M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$2.53M	USD	Point-in-time
Total liabilities	`Liabilities`	$154.43M	USD	Point-in-time
Total liabilities	`Liabilities`	$117.96M	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, 44,273,388 at March 31, 2022 and 44,092,981 at December 31, 2021 shares issued and outstanding	`CommonStockValue`	$443.00K	USD	Point-in-time
Common stock, $0.01 par value, 260,000,000 shares authorized, 44,273,388 at March 31, 2022 and 44,092,981 at December 31, 2021 shares issued and outstanding	`CommonStockValue`	$441.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$163.57M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$165.45M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$47.07M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$86.04M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$211.07M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$251.94M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$169.09M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$174.29M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$329.03M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$406.36M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$154.88M	USD	1 Quarter
Revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$43.45M	USD	1 Quarter
Cost of sales (exclusive of items shown separately below)	`CostOfGoodsAndServicesSold`	$31.20M	USD	1 Quarter
Cost of sales (exclusive of items shown separately below)	`CostOfGoodsAndServicesSold`	$81.25M	USD	1 Quarter
Asset retirement obligations accretion	`AssetRetirementObligationAccretionExpense`	$235.00K	USD	1 Quarter
Asset retirement obligations accretion	`AssetRetirementObligationAccretionExpense`	$151.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$8.68M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$6.16M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$4.71M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$11.82M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$42.21M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$101.99M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$1.24M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$52.89M	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$2.94M	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$366.00K	USD	1 Quarter
Interest expense, net	`InterestExpense`	$202.00K	USD	1 Quarter
Interest expense, net	`InterestExpense`	$1.13M	USD	1 Quarter
Income before tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$3.98M	USD	1 Quarter
Income before tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$52.13M	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$10.65M	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$-166.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.14M	USD	1 Quarter
Net income	`NetIncomeLoss`	$41.47M	USD	1 Quarter
Basic earnings (in dollars per share)	`EarningsPerShareBasic`	$0.94	USD	1 Quarter
Basic earnings (in dollars per share)	`EarningsPerShareBasic`	$0.10	USD	1 Quarter
Diluted earnings (in dollars per share)	`EarningsPerShareDiluted`	$0.10	USD	1 Quarter
Diluted earnings (in dollars per share)	`EarningsPerShareDiluted`	$0.92	USD	1 Quarter
Basic weighted average shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	44,181.00	shares	1 Quarter
Basic weighted average shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	43,443.00	shares	1 Quarter
Diluted weighted average shares outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	43,443.00	shares	1 Quarter
Diluted weighted average shares outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	44,908.00	shares	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$4.14M	USD	1 Quarter
Net income	`NetIncomeLoss`	$41.47M	USD	1 Quarter
Accretion of asset retirement obligations	`AssetRetirementObligationAccretionExpense`	$235.00K	USD	1 Quarter
Accretion of asset retirement obligations	`AssetRetirementObligationAccretionExpense`	$151.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$8.68M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$6.16M	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$14.00K	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$121.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$1.89M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$1.05M	USD	1 Quarter
Other income - employee retention tax credit	`OtherIncomeExpenseEmployeeRetentionCredit`	$2.46M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-166.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$5.01M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsAndNotesReceivable`	$3.19M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsAndNotesReceivable`	$1.44M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$-1.81M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$-1.13M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$3.75M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$12.24M	USD	1 Quarter
Other assets and liabilities	`IncreaseDecreaseInOtherOperatingAssets`	$591.00K	USD	1 Quarter
Other assets and liabilities	`IncreaseDecreaseInOtherOperatingAssets`	$220.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$5.32M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$18.65M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-935.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$7.04M	USD	1 Quarter
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$499.00K	USD	1 Quarter
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$77.37M	USD	1 Quarter
Capital Expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.73M	USD	1 Quarter
Capital Expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$19.74M	USD	1 Quarter
Net cash from investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.73M	USD	1 Quarter
Net cash from investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-19.74M	USD	1 Quarter
Proceeds from borrowings	`ProceedsFromIssuanceOfDebt`	$1.34M	USD	1 Quarter
Proceeds from borrowings	`ProceedsFromIssuanceOfDebt`	$11.60M	USD	1 Quarter
Payments of dividends	`PaymentsOfDividends`	$5.00M	USD	1 Quarter
Repayments of borrowings	`RepaymentsOfDebt`	$2.52M	USD	1 Quarter
Repayments of borrowings	`RepaymentsOfDebt`	$8.21M	USD	1 Quarter
Repayments of financed insurance payable	`RepaymentsOfFinancedInsurancePayable`	$105.00K	USD	1 Quarter
Repayments of financed insurance payable	`RepaymentsOfFinancedInsurancePayable`	$377.00K	USD	1 Quarter
Repayments of financing leased equipment	`RepaymentsOfFinancingLeasedEquipment`	$1.64M	USD	1 Quarter
Net cash from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$3.02M	USD	1 Quarter
Net cash from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-7.92M	USD	1 Quarter
Net change in cash and cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-211.00K	USD	1 Quarter
Net change in cash and cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$49.71M	USD	1 Quarter
Cash and cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$22.81M	USD	Point-in-time
Cash and cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$72.51M	USD	Point-in-time
Cash and cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.71M	USD	Point-in-time
Cash and cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.50M	USD	Point-in-time
Cash and cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$22.81M	USD	Point-in-time
Cash and cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$72.51M	USD	Point-in-time
Cash and cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.71M	USD	Point-in-time
Cash and cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.50M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$903.00K	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$186.00K	USD	1 Quarter
Leased assets obtained under new financing leases	`LeasedAssetsObtainedUnderNewFinancingLeases`	$3.62M	USD	1 Quarter
Capital expenditures included in accounts payable and accrued expenses	`CapitalExpendituresIncurredButNotYetPaid`	$13.06M	USD	1 Quarter
Capital expenditures included in accounts payable and accrued expenses	`CapitalExpendituresIncurredButNotYetPaid`	$913.00K	USD	1 Quarter
Additional asset retirement obligations incurred, net	`AssetRetirementObligationLiabilitiesIncurredOrAssumed`	$26.00K	USD	1 Quarter
Additional asset retirement obligations incurred, net	`AssetRetirementObligationLiabilitiesIncurredOrAssumed`	$928.00K	USD	1 Quarter

Stockholders Equity 13 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$211.07M	USD	Point-in-time
Balance	`StockholdersEquity`	$251.94M	USD	Point-in-time
Balance	`StockholdersEquity`	$169.09M	USD	Point-in-time
Balance	`StockholdersEquity`	$174.29M	USD	Point-in-time
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.05M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.89M	USD	1 Quarter
Dividends accrued ($0.0567 per common share)	`DividendsCommonStock`	$2.50M	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.14M	USD	1 Quarter
Net income	`NetIncomeLoss`	$41.47M	USD	1 Quarter
Balance	`StockholdersEquity`	$211.07M	USD	Point-in-time
Balance	`StockholdersEquity`	$251.94M	USD	Point-in-time
Balance	`StockholdersEquity`	$169.09M	USD	Point-in-time
Balance	`StockholdersEquity`	$174.29M	USD	Point-in-time

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