10-Q Filing

NATURAL RESOURCE PARTNERS LP CIK: 1171486 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001171486-22-000028`
Period End Date	20220331
Filing Date	20220505
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	nrp-20220331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 38 Cash Flow Statement 62 Stockholders Equity 20

Balance Sheet 68 line items

Line Item	Tag	Value	Unit	Period
Preferred units issued (in shares)	`PreferredUnitsIssued`	250,000.00	shares	Point-in-time
Preferred units outstanding (in shares)	`PreferredUnitsOutstanding`	269,321.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$135.52M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$135.59M	USD	Point-in-time
Preferred unit par value per unit	`TemporaryEquityParOrStatedValuePerShare`	$1.00K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$32.73M	USD	Point-in-time
Preferred unit par value per unit	`TemporaryEquityParOrStatedValuePerShare`	$1.00K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$24.54M	USD	Point-in-time
Preferred unit liquidation preference per unit	`TemporaryEquityLiquidationPreferencePerShare`	$1.85K	USD	Point-in-time
Other current assets, net	`PrepaidExpenseAndOtherAssetsCurrent`	$2.72M	USD	Point-in-time
Preferred unit liquidation preference per unit	`TemporaryEquityLiquidationPreferencePerShare`	$1.85K	USD	Point-in-time
Other current assets, net	`PrepaidExpenseAndOtherAssetsCurrent`	$3.51M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$162.78M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$171.83M	USD	Point-in-time
Common units issued (in shares)	`LimitedPartnersCapitalAccountUnitsIssued`	12.51M	shares	Point-in-time
Common units issued (in shares)	`LimitedPartnersCapitalAccountUnitsIssued`	12.35M	shares	Point-in-time
Common units outstanding (in shares)	`LimitedPartnersCapitalAccountUnitsOutstanding`	12.35M	shares	Point-in-time
Common units outstanding (in shares)	`LimitedPartnersCapitalAccountUnitsOutstanding`	12.51M	shares	Point-in-time
Land	`Land`	$24.01M	USD	Point-in-time
Land	`Land`	$24.01M	USD	Point-in-time
Mineral rights, net	`MineralPropertiesNet`	$433.96M	USD	Point-in-time
Mineral rights, net	`MineralPropertiesNet`	$437.70M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$16.13M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$16.02M	USD	Point-in-time
Equity in unconsolidated investment	`EquityMethodInvestments`	$280.16M	USD	Point-in-time
Equity in unconsolidated investment	`EquityMethodInvestments`	$276.00M	USD	Point-in-time
Long-term contract receivable, net	`NontradeReceivablesNoncurrent`	$30.78M	USD	Point-in-time
Long-term contract receivable, net	`NontradeReceivablesNoncurrent`	$31.37M	USD	Point-in-time
Other long-term assets, net	`OtherAssetsNoncurrent`	$5.83M	USD	Point-in-time
Other long-term assets, net	`OtherAssetsNoncurrent`	$5.53M	USD	Point-in-time
Total assets	`Assets`	$953.82M	USD	Point-in-time
Total assets	`Assets`	$962.29M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.90M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.96M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$3.39M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$10.30M	USD	Point-in-time
Accrued interest	`InterestPayableCurrentAndNoncurrent`	$8.46M	USD	Point-in-time
Accrued interest	`InterestPayableCurrentAndNoncurrent`	$1.21M	USD	Point-in-time
Current portion of deferred revenue	`DeferredRevenueCurrent`	$15.42M	USD	Point-in-time
Current portion of deferred revenue	`DeferredRevenueCurrent`	$11.82M	USD	Point-in-time
Current portion of long-term debt, net	`LongTermDebtCurrent`	$39.05M	USD	Point-in-time
Current portion of long-term debt, net	`LongTermDebtCurrent`	$39.10M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$64.39M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$68.21M	USD	Point-in-time
Deferred revenue	`DeferredRevenueNoncurrent`	$50.05M	USD	Point-in-time
Deferred revenue	`DeferredRevenueNoncurrent`	$39.13M	USD	Point-in-time
Long-term debt, net	`LongTermDebtNoncurrent`	$378.16M	USD	Point-in-time
Long-term debt, net	`LongTermDebtNoncurrent`	$394.44M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$4.80M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$5.02M	USD	Point-in-time
Total liabilities	`Liabilities`	$490.31M	USD	Point-in-time
Total liabilities	`Liabilities`	$513.89M	USD	Point-in-time
Commitments and contingencies (see Note 12)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (see Note 12)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Class A Convertible Preferred Units (250,000 and 269,321 units issued and outstanding at March 31, 2022 and December 31, 2021, respectively, at $1,000 par value per unit; liquidation preference of $1,850 per unit at March 31, 2022 and December 31, 2021)	`TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests`	$183.91M	USD	Point-in-time
Class A Convertible Preferred Units (250,000 and 269,321 units issued and outstanding at March 31, 2022 and December 31, 2021, respectively, at $1,000 par value per unit; liquidation preference of $1,850 per unit at March 31, 2022 and December 31, 2021)	`TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests`	$164.59M	USD	Point-in-time
Common unitholders interest (12,505,996 and 12,351,306 units issued and outstanding at March 31, 2022 and December 31, 2021, respectively)	`LimitedPartnersCapitalAccount`	$250.77M	USD	Point-in-time
Common unitholders interest (12,505,996 and 12,351,306 units issued and outstanding at March 31, 2022 and December 31, 2021, respectively)	`LimitedPartnersCapitalAccount`	$203.06M	USD	Point-in-time
General partners interest	`GeneralPartnersCapitalAccount`	$1.79M	USD	Point-in-time
General partners interest	`GeneralPartnersCapitalAccount`	$2.91M	USD	Point-in-time
Warrant holders interest	`WarrantsAndRightsOutstanding`	$47.96M	USD	Point-in-time
Warrant holders interest	`WarrantsAndRightsOutstanding`	$47.96M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$5.76M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$3.21M	USD	Point-in-time
Total partners capital	`PartnersCapital`	$256.02M	USD	Point-in-time
Total partners capital	`PartnersCapital`	$307.40M	USD	Point-in-time
Total liabilities and partners' capital	`LiabilitiesAndStockholdersEquity`	$962.29M	USD	Point-in-time
Total liabilities and partners' capital	`LiabilitiesAndStockholdersEquity`	$953.82M	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$37.09M	USD	1 Quarter
Revenues	`Revenues`	$89.72M	USD	1 Quarter
Gain on asset sales and disposals	`GainLossOnDispositionOfAssets1`	$59.00K	USD	1 Quarter
Gain on asset sales and disposals	`GainLossOnDispositionOfAssets1`	-	USD	1 Quarter
Total revenues and other income	`RevenueNetIncludingGainLossonDispositionofAssets`	$89.72M	USD	1 Quarter
Total revenues and other income	`RevenueNetIncludingGainLossonDispositionofAssets`	$37.15M	USD	1 Quarter
Operating and maintenance expenses	`OperatingCostsAndExpenses`	$8.08M	USD	1 Quarter
Operating and maintenance expenses	`OperatingCostsAndExpenses`	$5.55M	USD	1 Quarter
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$5.09M	USD	1 Quarter
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$3.87M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$4.11M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$4.47M	USD	1 Quarter
Asset impairments	`AssetImpairmentCharges`	$19.00K	USD	1 Quarter
Asset impairments	`AssetImpairmentCharges`	$4.04M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$16.43M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$18.80M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$73.29M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$18.35M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$9.39M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$9.97M	USD	1 Quarter
Net income	`ProfitLoss`	$63.90M	USD	1 Quarter
Net income	`ProfitLoss`	$8.38M	USD	1 Quarter
Less: income attributable to preferred unitholders	`IncomeLossfromContinuingOperationsIncludingPortionAttributabletoNoncontrollingInterestAllocatedtoPreferredUnitHolders`	$7.73M	USD	1 Quarter
Less: income attributable to preferred unitholders	`IncomeLossfromContinuingOperationsIncludingPortionAttributabletoNoncontrollingInterestAllocatedtoPreferredUnitHolders`	$7.50M	USD	1 Quarter
Net income attributable to common unitholders and the general partner	`NetIncomeLossAvailableToCommonStockholdersBasic`	$56.40M	USD	1 Quarter
Net income attributable to common unitholders and the general partner	`NetIncomeLossAvailableToCommonStockholdersBasic`	$654.00K	USD	1 Quarter
Net income attributable to common unitholders	`NetIncomeLossAllocatedToLimitedPartners`	$55.27M	USD	1 Quarter
Net income attributable to common unitholders	`NetIncomeLossAllocatedToLimitedPartners`	$641.00K	USD	1 Quarter
Net income attributable to the general partner	`NetIncomeLossAllocatedToGeneralPartners`	$13.00K	USD	1 Quarter
Net income attributable to the general partner	`NetIncomeLossAllocatedToGeneralPartners`	$1.13M	USD	1 Quarter
Basic (in dollars per share)	`NetIncomeLossPerOutstandingLimitedPartnershipUnitBasicNetOfTax`	$0.05	USD	1 Quarter
Basic (in dollars per share)	`NetIncomeLossPerOutstandingLimitedPartnershipUnitBasicNetOfTax`	$4.45	USD	1 Quarter
Diluted (in dollars per unit)	`NetIncomeLossNetOfTaxPerOutstandingLimitedPartnershipUnitDiluted`	$0.05	USD	1 Quarter
Diluted (in dollars per unit)	`NetIncomeLossNetOfTaxPerOutstandingLimitedPartnershipUnitDiluted`	$3.11	USD	1 Quarter
Comprehensive income from unconsolidated investment and other	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$732.00K	USD	1 Quarter
Comprehensive income from unconsolidated investment and other	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$2.54M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$9.11M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$66.44M	USD	1 Quarter

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$63.90M	USD	1 Quarter
Net income	`ProfitLoss`	$8.38M	USD	1 Quarter
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$5.09M	USD	1 Quarter
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$3.87M	USD	1 Quarter
Distributions from unconsolidated investment	`EquityMethodInvestmentDividendsOrDistributions`	$3.92M	USD	1 Quarter
Distributions from unconsolidated investment	`EquityMethodInvestmentDividendsOrDistributions`	$13.23M	USD	1 Quarter
Equity earnings from unconsolidated investment	`EquityEarningsFromUnconsolidatedInvestment`	$1.97M	USD	1 Quarter
Equity earnings from unconsolidated investment	`EquityEarningsFromUnconsolidatedInvestment`	$14.84M	USD	1 Quarter
Gain on asset sales and disposals	`GainLossOnDispositionOfAssets1`	$59.00K	USD	1 Quarter
Gain on asset sales and disposals	`GainLossOnDispositionOfAssets1`	-	USD	1 Quarter
Asset impairments	`AssetImpairmentCharges`	$19.00K	USD	1 Quarter
Asset impairments	`AssetImpairmentCharges`	$4.04M	USD	1 Quarter
Bad debt expense	`ProvisionForOtherLosses`	$383.00K	USD	1 Quarter
Bad debt expense	`ProvisionForOtherLosses`	$1.03M	USD	1 Quarter
Unit-based compensation expense	`ShareBasedCompensation`	$1.45M	USD	1 Quarter
Unit-based compensation expense	`ShareBasedCompensation`	$1.13M	USD	1 Quarter
Amortization of debt issuance costs and other	`OtherOperatingActivitiesCashFlowStatement`	$375.00K	USD	1 Quarter
Amortization of debt issuance costs and other	`OtherOperatingActivitiesCashFlowStatement`	$269.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$7.58M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$3.33M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-60.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-10.00K	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-7.16M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-3.03M	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$7.25M	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$7.13M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-146.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-7.32M	USD	1 Quarter
Other items, net	`IncreaseDecreaseInOtherOperatingAssets`	$-1.41M	USD	1 Quarter
Other items, net	`IncreaseDecreaseInOtherOperatingAssets`	$1.84M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$52.33M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$23.20M	USD	1 Quarter
Proceeds from asset sales and disposals	`PaymentsForProceedsFromProductiveAssets`	-	USD	1 Quarter
Proceeds from asset sales and disposals	`PaymentsForProceedsFromProductiveAssets`	$-59.00K	USD	1 Quarter
Return of long-term contract receivable	`ProceedsFromCollectionOfLeaseReceivables`	$541.00K	USD	1 Quarter
Return of long-term contract receivable	`ProceedsFromCollectionOfLeaseReceivables`	-	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$600.00K	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Debt repayments	`RepaymentsOfLongTermDebt`	$16.70M	USD	1 Quarter
Debt repayments	`RepaymentsOfLongTermDebt`	$16.70M	USD	1 Quarter
Redemption of preferred units paid-in-kind	`PaymentsForRepurchaseOfPreferredStockAndPreferenceStock`	$19.58M	USD	1 Quarter
Redemption of preferred units paid-in-kind	`PaymentsForRepurchaseOfPreferredStockAndPreferenceStock`	-	USD	1 Quarter
Other items	`ProceedsFromPaymentsForOtherFinancingActivities`	$-2.81M	USD	1 Quarter
Other items	`ProceedsFromPaymentsForOtherFinancingActivities`	$-691.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-52.26M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-26.82M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$70.00K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-3.02M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$135.52M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$135.59M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$99.79M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$96.77M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$135.52M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$135.59M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$99.79M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$96.77M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$1.64M	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$2.32M	USD	1 Quarter
Plant, equipment, mineral rights and other funded with accounts payable or accrued liabilities	`CapitalExpendituresIncurredButNotYetPaid`	-	USD	1 Quarter
Plant, equipment, mineral rights and other funded with accounts payable or accrued liabilities	`CapitalExpendituresIncurredButNotYetPaid`	$992.00K	USD	1 Quarter
Preferred unit distributions paid-in-kind	`DividendsPaidinkind`	$3.81M	USD	1 Quarter
Preferred unit distributions paid-in-kind	`DividendsPaidinkind`	-	USD	1 Quarter

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Balance, beginning of period	`PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest`	$200.64M	USD	Point-in-time
Balance, beginning of period	`PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest`	$307.40M	USD	Point-in-time
Balance, beginning of period	`PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest`	$204.52M	USD	Point-in-time
Balance, beginning of period	`PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest`	$256.02M	USD	Point-in-time
Net income	`ProfitLoss`	$63.90M	USD	1 Quarter
Net income	`ProfitLoss`	$8.38M	USD	1 Quarter
Issuance of unit-based awards	`PartnersCapitalAccountUnitBasedCompensation`	-	USD	1 Quarter
Issuance of unit-based awards	`PartnersCapitalAccountUnitBasedCompensation`	-	USD	1 Quarter
Unit-based awards amortization and vesting, net	`PartnersCapitalAccountUnitbasedCompensationAmortization`	$-1.75M	USD	1 Quarter
Unit-based awards amortization and vesting, net	`PartnersCapitalAccountUnitbasedCompensationAmortization`	$215.00K	USD	1 Quarter
Partners' Capital Account, Contributions	`PartnersCapitalAccountContributions`	$112.00K	USD	1 Quarter
Partners' Capital Account, Contributions	`PartnersCapitalAccountContributions`	$32.00K	USD	1 Quarter
Comprehensive income from unconsolidated investment and other	`OtherComprehensiveIncomeLossNetofTaxPortionAttributabletoParentExcludingGeneralPartnerDistributions`	$2.54M	USD	1 Quarter
Comprehensive income from unconsolidated investment and other	`OtherComprehensiveIncomeLossNetofTaxPortionAttributabletoParentExcludingGeneralPartnerDistributions`	$732.00K	USD	1 Quarter
Balance, end of period	`PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest`	$200.64M	USD	Point-in-time
Balance, end of period	`PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest`	$307.40M	USD	Point-in-time
Balance, end of period	`PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest`	$204.52M	USD	Point-in-time
Balance, end of period	`PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest`	$256.02M	USD	Point-in-time
Income attributable to preferred unitholders	`IncomeLossfromContinuingOperationsIncludingPortionAttributabletoNoncontrollingInterestAllocatedtoPreferredUnitHolders`	$7.73M	USD	1 Quarter
Income attributable to preferred unitholders	`IncomeLossfromContinuingOperationsIncludingPortionAttributabletoNoncontrollingInterestAllocatedtoPreferredUnitHolders`	$7.50M	USD	1 Quarter

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