10-Q Filing

NOVAGOLD RESOURCES INC CIK: 1173420 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001171843-18-002534`
Period End Date	20180228
Filing Date	20180404
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	ng-20180228.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 47 Income Statement 30 Cash Flow Statement 45 Stockholders Equity 18 Comprehensive Income 2

Balance Sheet 47 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$27.95M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$20.93M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$30.27M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$18.24M	USD	Point-in-time
Term deposits	`DepositsAssets`	$56.00M	USD	Point-in-time
Term deposits	`DepositsAssets`	$56.00M	USD	Point-in-time
Other assets	`OtherAssetsCurrent`	$898.00K	USD	Point-in-time
Other assets	`OtherAssetsCurrent`	$883.00K	USD	Point-in-time
Current assets	`AssetsCurrent`	$84.84M	USD	Point-in-time
Current assets	`AssetsCurrent`	$77.83M	USD	Point-in-time
Mineral property	`MineralPropertiesNet`	$45.46M	USD	Point-in-time
Mineral property	`MineralPropertiesNet`	$45.18M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$9.82M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$9.76M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$6.53M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$6.46M	USD	Point-in-time
Total assets	`Assets`	$398.87M	USD	Point-in-time
Total assets	`Assets`	$393.96M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$727.00K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$538.00K	USD	Point-in-time
Accrued payroll and related benefits	`EmployeeRelatedLiabilitiesCurrent`	$2.51M	USD	Point-in-time
Accrued payroll and related benefits	`EmployeeRelatedLiabilitiesCurrent`	$663.00K	USD	Point-in-time
Other liabilities	`OtherLiabilitiesCurrent`	$182.00K	USD	Point-in-time
Other liabilities	`OtherLiabilitiesCurrent`	$182.00K	USD	Point-in-time
Current liabilities	`LiabilitiesCurrent`	$1.38M	USD	Point-in-time
Current liabilities	`LiabilitiesCurrent`	$3.42M	USD	Point-in-time
Promissory note (note 6)	`LongTermNotesPayable`	$91.53M	USD	Point-in-time
Promissory note (note 6)	`LongTermNotesPayable`	$90.04M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$21.38M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$21.51M	USD	Point-in-time
Total liabilities	`Liabilities`	$114.42M	USD	Point-in-time
Total liabilities	`Liabilities`	$114.84M	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`	$1.95B	USD	Point-in-time
Common shares	`CommonStockValue`	$1.95B	USD	Point-in-time
Contributed surplus	`AdditionalPaidInCapital`	$83.53M	USD	Point-in-time
Contributed surplus	`AdditionalPaidInCapital`	$84.51M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.74B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.75B	USD	Point-in-time
Accumulated other comprehensive gain (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-4.40M	USD	Point-in-time
Accumulated other comprehensive gain (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-6.17M	USD	Point-in-time
Total equity	`StockholdersEquity`	$300.26M	USD	Point-in-time
Total equity	`StockholdersEquity`	$284.03M	USD	Point-in-time
Total equity	`StockholdersEquity`	$279.54M	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$398.87M	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$393.96M	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Equity loss	`IncomeLossFromEquityMethodInvestments`	$-2.09M	USD	1 Quarter
Equity loss	`IncomeLossFromEquityMethodInvestments`	$-2.23M	USD	1 Quarter
General and administrative (note 8)	`GeneralAndAdministrativeExpense`	$4.68M	USD	1 Quarter
General and administrative (note 8)	`GeneralAndAdministrativeExpense`	$6.73M	USD	1 Quarter
OperatingExpenses	`OperatingExpenses`	$6.78M	USD	1 Quarter
OperatingExpenses	`OperatingExpenses`	$8.96M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-6.78M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-8.96M	USD	1 Quarter
Other income (expense) (note 10)	`NonoperatingIncomeExpense`	$-1.13M	USD	1 Quarter
Other income (expense) (note 10)	`NonoperatingIncomeExpense`	$-1.37M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-10.09M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-8.15M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$53.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$66.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-8.21M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-39.02M	USD	Annual
Net loss	`NetIncomeLoss`	$-10.14M	USD	1 Quarter
Unrealized gain (loss) on marketable securities, net of $11 and $(33) tax recovery (expense), respectively	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$214.00K	USD	1 Quarter
Unrealized gain (loss) on marketable securities, net of $11 and $(33) tax recovery (expense), respectively	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-94.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$3.33M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$1.87M	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$1.77M	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$12.69M	USD	Annual
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$3.54M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-6.44M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-6.60M	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`	321.43M	shares	1 Quarter
Basic and diluted (thousands) (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	322.29M	shares	1 Quarter

Cash Flow Statement 45 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-8.21M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-39.02M	USD	Annual
Net loss	`NetIncomeLoss`	$-10.14M	USD	1 Quarter
Equity losses of affiliates	`IncomeLossFromEquityMethodInvestments`	$-2.09M	USD	1 Quarter
Equity losses of affiliates	`IncomeLossFromEquityMethodInvestments`	$-2.23M	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$1.95M	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$3.92M	USD	1 Quarter
Interest on promissory note	`IncreaseDecreaseInInterestPayableNet`	$1.49M	USD	1 Quarter
Interest on promissory note	`IncreaseDecreaseInInterestPayableNet`	$1.21M	USD	1 Quarter
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-95.00K	USD	1 Quarter
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-133.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$11.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$27.00K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-194.00K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-17.00K	USD	1 Quarter
Accrued payroll and related benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-1.85M	USD	1 Quarter
Accrued payroll and related benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-1.54M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-4.22M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-4.64M	USD	1 Quarter
Proceeds from term deposits	`ProceedsFromSaleMaturityAndCollectionsOfInvestments`	$40.00M	USD	1 Quarter
Proceeds from term deposits	`ProceedsFromSaleMaturityAndCollectionsOfInvestments`	$15.00M	USD	1 Quarter
Purchases of term deposits	`PaymentsToAcquireInvestments`	$15.00M	USD	1 Quarter
Purchases of term deposits	`PaymentsToAcquireInvestments`	$45.00M	USD	1 Quarter
Funding of affiliates	`PaymentsToAcquireInterestInSubsidiariesAndAffiliates`	$2.38M	USD	1 Quarter
Funding of affiliates	`PaymentsToAcquireInterestInSubsidiariesAndAffiliates`	$2.64M	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$13.00K	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$28.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-7.67M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.39M	USD	1 Quarter
Withholding tax on share-based compensation	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$196.00K	USD	1 Quarter
Withholding tax on share-based compensation	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInFinancingActivities`	$-196.00K	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCash`	$9.00K	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCash`	$50.00K	USD	1 Quarter
Decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-12.04M	USD	1 Quarter
Decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-7.02M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$27.95M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$20.93M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$30.27M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$18.24M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$27.95M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$20.93M	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`	$18.24M	USD	Point-in-time

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$300.26M	USD	Point-in-time
Balance	`StockholdersEquity`	$284.03M	USD	Point-in-time
Balance	`StockholdersEquity`	$279.54M	USD	Point-in-time
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$10.29M	USD	Annual
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.95M	USD	1 Quarter
Stock options exercised (in shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	725.00	shares	1 Quarter
Stock options exercised	`StockIssuedDuringPeriodValueStockOptionsExercised`	-	USD	1 Quarter
Stock options exercised	`StockIssuedDuringPeriodValueStockOptionsExercised`	-	USD	Annual
Withholding tax on PSUs	`AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation`	$196.00K	USD	Annual
Net loss	`NetIncomeLoss`	$-8.21M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-39.02M	USD	Annual
Net loss	`NetIncomeLoss`	$-10.14M	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$1.77M	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$12.69M	USD	Annual
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$3.54M	USD	1 Quarter
Balance	`StockholdersEquity`	$300.26M	USD	Point-in-time
Balance	`StockholdersEquity`	$284.03M	USD	Point-in-time
Balance	`StockholdersEquity`	$279.54M	USD	Point-in-time

Comprehensive Income 2 line items

Line Item	Tag	Value	Unit	Period
Net unrealized gain (loss), tax recovery (expense)	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax`	$33.00	USD	1 Quarter
Net unrealized gain (loss), tax recovery (expense)	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax`	$-11.00	USD	1 Quarter

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