10-Q Filing

NOVAGOLD RESOURCES INC CIK: 1173420 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001171843-17-001923`
Period End Date	20170228
Filing Date	20170403
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	ng-20170228.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 45 Income Statement 30 Cash Flow Statement 43 Stockholders Equity 14 Comprehensive Income 2

Balance Sheet 45 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$30.27M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$41.73M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$18.24M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$36.94M	USD	Point-in-time
Term deposits	`DepositsAssets`	$75.00M	USD	Point-in-time
Term deposits	`DepositsAssets`	$80.00M	USD	Point-in-time
Other assets	`OtherAssetsCurrent`	$1.91M	USD	Point-in-time
Other assets	`OtherAssetsCurrent`	$2.06M	USD	Point-in-time
Current assets	`AssetsCurrent`	$107.34M	USD	Point-in-time
Current assets	`AssetsCurrent`	$100.15M	USD	Point-in-time
Mineral property	`MineralPropertiesNet`	$43.36M	USD	Point-in-time
Mineral property	`MineralPropertiesNet`	$43.84M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$9.50M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$9.40M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$5.81M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$6.33M	USD	Point-in-time
Total assets	`Assets`	$408.26M	USD	Point-in-time
Total assets	`Assets`	$405.28M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.29M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$2.84M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesCurrent`	$214.00K	USD	Point-in-time
Other liabilities	`OtherLiabilitiesCurrent`	$214.00K	USD	Point-in-time
Current liabilities	`LiabilitiesCurrent`	$1.51M	USD	Point-in-time
Current liabilities	`LiabilitiesCurrent`	$3.05M	USD	Point-in-time
Promissory note (note 6)	`LongTermNotesPayable`	$84.81M	USD	Point-in-time
Promissory note (note 6)	`LongTermNotesPayable`	$86.03M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$20.36M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$20.14M	USD	Point-in-time
Total liabilities	`Liabilities`	$108.00M	USD	Point-in-time
Total liabilities	`Liabilities`	$107.89M	USD	Point-in-time
Commitments and contingencies (note 12)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (note 12)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common shares	`CommonStockValue`	$1.94B	USD	Point-in-time
Common shares	`CommonStockValue`	$1.95B	USD	Point-in-time
Contributed surplus	`AdditionalPaidInCapital`	$82.57M	USD	Point-in-time
Contributed surplus	`AdditionalPaidInCapital`	$81.65M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.71B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.72B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-15.32M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-18.86M	USD	Point-in-time
Total equity	`StockholdersEquity`	$329.30M	USD	Point-in-time
Total equity	`StockholdersEquity`	$297.39M	USD	Point-in-time
Total equity	`StockholdersEquity`	$300.26M	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$405.28M	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$408.26M	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Equity loss	`IncomeLossFromEquityMethodInvestments`	$-2.23M	USD	1 Quarter
Equity loss	`IncomeLossFromEquityMethodInvestments`	$-2.20M	USD	1 Quarter
General and administrative (note 8)	`GeneralAndAdministrativeExpense`	$6.73M	USD	1 Quarter
General and administrative (note 8)	`GeneralAndAdministrativeExpense`	$7.33M	USD	1 Quarter
OperatingExpenses	`OperatingExpenses`	$8.96M	USD	1 Quarter
OperatingExpenses	`OperatingExpenses`	$9.53M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-9.53M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-8.96M	USD	1 Quarter
Other income (expense) (note 10)	`NonoperatingIncomeExpense`	$-385.00K	USD	1 Quarter
Other income (expense) (note 10)	`NonoperatingIncomeExpense`	$-1.13M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-10.09M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-9.91M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$53.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$62.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-33.85M	USD	Annual
Net loss	`NetIncomeLoss`	$-10.14M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-9.98M	USD	1 Quarter
Unrealized gain on marketable securities, net of $33 and $3 tax expense, respectively	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$36.00K	USD	1 Quarter
Unrealized gain on marketable securities, net of $33 and $3 tax expense, respectively	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$214.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$3.33M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-4.02M	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$-1.18M	USD	Annual
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$3.54M	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$-3.99M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-6.60M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-13.96M	USD	1 Quarter
Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.03	USD	1 Quarter
Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.03	USD	1 Quarter
Basic and diluted (thousands) (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	321,428.00	shares	1 Quarter
Basic and diluted (thousands) (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	319,343.00	shares	1 Quarter

Cash Flow Statement 43 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-33.85M	USD	Annual
Net loss	`NetIncomeLoss`	$-10.14M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-9.98M	USD	1 Quarter
Equity losses of affiliates	`IncomeLossFromEquityMethodInvestments`	$-2.23M	USD	1 Quarter
Equity losses of affiliates	`IncomeLossFromEquityMethodInvestments`	$-2.20M	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$4.71M	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$3.92M	USD	1 Quarter
Interest on promissory note	`IncreaseDecreaseInInterestPayableNet`	$1.09M	USD	1 Quarter
Interest on promissory note	`IncreaseDecreaseInInterestPayableNet`	$1.21M	USD	1 Quarter
Foreign exchange (gain) loss	`ForeignCurrencyTransactionGainLossBeforeTax`	$525.00K	USD	1 Quarter
Foreign exchange (gain) loss	`ForeignCurrencyTransactionGainLossBeforeTax`	$-161.00K	USD	1 Quarter
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$28.00K	USD	1 Quarter
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-217.00K	USD	1 Quarter
Withholding tax paid on share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$4.28M	USD	1 Quarter
Withholding tax paid on share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$196.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$27.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-634.00K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.55M	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.81M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-7.74M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-4.42M	USD	1 Quarter
Proceeds from term deposits	`ProceedsFromSaleMaturityAndCollectionsOfInvestments`	$40.00M	USD	1 Quarter
Proceeds from term deposits	`ProceedsFromSaleMaturityAndCollectionsOfInvestments`	$40.00M	USD	1 Quarter
Purchases of term deposits	`PaymentsToAcquireInvestments`	$35.00M	USD	1 Quarter
Purchases of term deposits	`PaymentsToAcquireInvestments`	$45.00M	USD	1 Quarter
Funding of affiliates	`PaymentsToAcquireInterestInSubsidiariesAndAffiliates`	$2.64M	USD	1 Quarter
Funding of affiliates	`PaymentsToAcquireInterestInSubsidiariesAndAffiliates`	$2.06M	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	-	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$28.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-7.67M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$2.94M	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCash`	$6.00K	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCash`	$50.00K	USD	1 Quarter
Decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-4.79M	USD	1 Quarter
Decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-12.04M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$30.27M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$41.73M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$18.24M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$36.94M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$30.27M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$41.73M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$18.24M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$36.94M	USD	Point-in-time

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$329.30M	USD	Point-in-time
Balance	`StockholdersEquity`	$297.39M	USD	Point-in-time
Balance	`StockholdersEquity`	$300.26M	USD	Point-in-time
Net loss	`NetIncomeLoss`	$-33.85M	USD	Annual
Net loss	`NetIncomeLoss`	$-10.14M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-9.98M	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$-1.18M	USD	Annual
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$3.54M	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$-3.99M	USD	1 Quarter
Share-based compensation and related share issuances	`StockIssuedDuringPeriodValueShareBasedCompensation`	$3.73M	USD	1 Quarter
Share-based compensation and related share issuances	`StockIssuedDuringPeriodValueShareBasedCompensation`	$5.99M	USD	Annual
Balance	`StockholdersEquity`	$329.30M	USD	Point-in-time
Balance	`StockholdersEquity`	$297.39M	USD	Point-in-time
Balance	`StockholdersEquity`	$300.26M	USD	Point-in-time

Comprehensive Income 2 line items

Line Item	Tag	Value	Unit	Period
Net unrealized gain (loss), tax recovery (expense)	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax`	$-3.00K	USD	1 Quarter
Net unrealized gain (loss), tax recovery (expense)	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax`	$-33.00K	USD	1 Quarter

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