Document and Entity Information
Document and Entity Information - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Mar. 01, 2019 | Jun. 30, 2018 | |
Document And Entity Information [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2018 | ||
Document Fiscal Year Focus | 2,018 | ||
Document Fiscal Period Focus | Q4 | ||
Trading Symbol | NRP | ||
Entity Registrant Name | NATURAL RESOURCE PARTNERS LP | ||
Entity Central Index Key | 1,171,486 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Filer Category | Accelerated Filer | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | false | ||
Entity Common Stock, Shares Outstanding | 12,261,199 | ||
Entity Public Float | $ 248.4 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Current assets: | ||
Cash and cash equivalents | $ 101,839 | $ 26,980 |
Restricted cash | 104,191 | 0 |
Accounts receivable, net | 32,024 | 24,050 |
Accounts receivable—affiliates | 34 | 161 |
Prepaid expenses and other | 3,462 | 3,782 |
Current assets of discontinued operations | 993 | 36,423 |
Total current assets | 242,543 | 91,396 |
Land | 24,008 | 24,008 |
Plant and equipment, net | 984 | 1,348 |
Mineral rights, net | 743,112 | 778,419 |
Intangible assets, net | 42,513 | 46,820 |
Equity in unconsolidated investment | 247,051 | 245,433 |
Long-term contracts receivable | 38,945 | 40,776 |
Long-term assets of discontinued operations | 0 | 155,942 |
Other assets | 2,491 | 4,866 |
Other assets—affiliate | 0 | 156 |
Total assets | 1,341,647 | 1,389,164 |
Current liabilities: | ||
Accounts payable | 548 | 1,010 |
Accounts payable—affiliates | 1,866 | 490 |
Accrued liabilities | 12,347 | 11,542 |
Accrued liabilities—affiliates | 0 | 515 |
Accrued interest | 14,345 | 15,484 |
Current portion of deferred revenue | 3,509 | 0 |
Current portion of long-term debt, net | 115,184 | 79,740 |
Current liabilities of discontinued operations | 947 | 11,768 |
Total current liabilities | 148,746 | 120,549 |
Deferred revenue | 49,044 | 100,605 |
Long-term debt, net | 557,574 | 729,608 |
Long-term liabilities of discontinued operations | 0 | 2,220 |
Other non-current liabilities | 1,150 | 588 |
Other non-current liabilities—affiliate | 0 | 346 |
Total liabilities | 756,514 | 953,916 |
Commitments and contingencies | 0 | 0 |
Class A Convertible Preferred Units (250,000 and 258,844 units issued and outstanding at December 31, 2018 and 2017, respectively, at $1,000 par value per unit; liquidation preference of $1,500 per unit) | 164,587 | 173,431 |
Partners’ capital: | ||
Common unitholders’ interest (12,249,469 and 12,232,006 units issued and outstanding at December 31, 2018 and 2017, respectively) | 355,113 | 199,851 |
General partner’s interest | 5,014 | 1,857 |
Warrant holders’ interest | 66,816 | 66,816 |
Accumulated other comprehensive loss | (3,462) | (3,313) |
Total partners’ capital | 423,481 | 265,211 |
Non-controlling interest | (2,935) | (3,394) |
Total capital | 420,546 | 261,817 |
Total liabilities and capital | $ 1,341,647 | $ 1,389,164 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Dec. 31, 2018 | Dec. 31, 2017 |
Statement of Financial Position [Abstract] | ||
Common Units Outstanding | 12,249,469 | 12,232,006 |
Common Units Issued | 12,249,469 | 12,232,006 |
Preferred Units Issued | 250,000 | 258,844 |
Preferred Units Outstanding | 250,000 | 258,844 |
Preferred unit purchase price | $ 1,000 | $ 1,000 |
Temporary Equity, Liquidation Preference Per Share | $ 1,500 | $ 1,500 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Revenues | $ 251,071 | $ 242,780 | $ 250,176 |
Gain on litigation settlement | 25,000 | 0 | 0 |
Gain on asset sales, net | 2,441 | 3,545 | 29,068 |
Total revenues and other income | 278,512 | 246,325 | 279,244 |
Operating expenses | |||
Operating and maintenance expenses | 17,894 | 16,771 | 20,737 |
Operating and maintenance expenses—affiliates | 11,615 | 8,112 | 9,153 |
Depreciation, depletion and amortization | 21,689 | 22,406 | 28,581 |
Amortization expense—affiliate | 0 | 1,008 | 3,185 |
General and administrative | 12,838 | 13,513 | 16,979 |
General and administrative—affiliates | 3,658 | 4,989 | 3,591 |
Asset impairments | 18,280 | 2,967 | 15,861 |
Total operating expenses | 85,974 | 69,766 | 98,087 |
Income from operations | 192,538 | 176,559 | 181,157 |
Other expense, net | |||
Interest expense, net | (70,178) | (82,028) | (90,008) |
Interest expense—affiliate | 0 | 0 | (523) |
Debt modification expense | 0 | (7,939) | 0 |
Loss on extinguishment of debt | 0 | (4,107) | 0 |
Total other expense, net | (70,178) | (94,074) | (90,531) |
Net income from continuing operations | 122,360 | 82,485 | 90,626 |
Income from discontinued operations | 17,687 | 6,182 | 6,266 |
Net income | 140,047 | 88,667 | 96,892 |
Net income attributable to non-controlling interest | (510) | 0 | 0 |
Net income attributable to NRP | 139,537 | 88,667 | 96,892 |
Less: income attributable to preferred unitholders | (30,000) | (25,453) | 0 |
Net income attributable to common unitholders and general partner | 109,537 | 63,214 | 96,892 |
Net income attributable to common unitholders | 107,346 | 61,950 | 95,229 |
Net income attributable to the general partner | $ 2,191 | $ 1,264 | $ 1,663 |
Income from continuing operations per common unit | |||
Income from continuing operations per common unit (basic) | $ 7.35 | $ 4.57 | $ 7.28 |
Income from continuing operations per common unit (diluted) | 5.90 | 3.68 | 7.28 |
Basic and diluted net income per common unit (in dollars per share): | |||
Net income per common unit (basic) | 8.77 | 5.06 | 7.78 |
Net income per common unit (diluted) | $ 6.76 | $ 3.96 | $ 7.78 |
Comprehensive income (loss) from unconsolidated investment and other | $ (149) | $ (1,647) | $ 486 |
Comprehensive income | 139,898 | 87,020 | 97,378 |
Comprehensive income attributable to non-controlling interest | (510) | 0 | 0 |
Comprehensive income attributable to NRP | 139,388 | 87,020 | 97,378 |
Coal Royalty and Other | |||
Revenues | 178,394 | 158,399 | 144,520 |
Coal royalty and other—affiliates | 484 | 23,402 | 46,259 |
Soda Ash | |||
Revenues | 48,306 | $ 40,457 | $ 40,061 |
Transportation and processing services | Coal Royalty and Other | |||
Revenues | 23,887 | ||
Transportation and processing services—affiliate | Coal Royalty and Other | |||
Coal royalty and other—affiliates | $ 0 |
Consolidated Statements of Part
Consolidated Statements of Partners' Capital - USD ($) shares in Thousands, $ in Thousands | Total | General Partner | Common Unitholders | Warrant Holders | Accumulated Other Comprehensive Income (Loss) | Partners Capital Excluding Noncontrolling Interest | Non-Controlling Interest | Common unitholders | Common unitholdersCommon Unitholders | General Partner | General PartnerGeneral Partner | Common unitholders and general partner | Common unitholders and general partnerPartners Capital Excluding Noncontrolling Interest | Preferred Partner | Preferred PartnerGeneral Partner | Preferred PartnerCommon Unitholders | Preferred PartnerPartners Capital Excluding Noncontrolling Interest |
Balance, beginning of period (in shares) at Dec. 31, 2015 | 12,232 | ||||||||||||||||
Balance, beginning of period at Dec. 31, 2015 | $ 72,942 | $ (606) | $ 79,094 | $ 0 | $ (2,152) | $ 76,336 | $ (3,394) | ||||||||||
Net income (loss) | 96,892 | 1,663 | $ 95,229 | 96,892 | |||||||||||||
Net income | 96,892 | ||||||||||||||||
Distributions to unitholders | $ (22,014) | $ (451) | $ (22,465) | $ (22,465) | |||||||||||||
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent, Excluding General Partner Distributions | 486 | ||||||||||||||||
Comprehensive income from unconsolidated investment and other | 486 | 486 | 486 | ||||||||||||||
Non-cash contributions | 281 | 281 | 281 | ||||||||||||||
Balance, end of period (in shares) at Dec. 31, 2016 | 12,232 | ||||||||||||||||
Balance, end of period at Dec. 31, 2016 | 148,136 | 887 | $ 152,309 | 0 | (1,666) | 151,530 | (3,394) | ||||||||||
Income attributable to preferred unitholders | 0 | ||||||||||||||||
Net income (loss) | 88,667 | 1,773 | $ 86,894 | 88,667 | |||||||||||||
Net income | 88,667 | ||||||||||||||||
Distributions to unitholders | (22,018) | (449) | (22,467) | (22,467) | $ (17,688) | $ 354 | $ 17,334 | $ (17,688) | |||||||||
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent, Excluding General Partner Distributions | (1,647) | ||||||||||||||||
Issuance of Warrants | 66,816 | 66,816 | 66,816 | ||||||||||||||
Comprehensive income from unconsolidated investment and other | (1,647) | (1,647) | (1,647) | ||||||||||||||
Balance, end of period (in shares) at Dec. 31, 2017 | 12,232 | ||||||||||||||||
Balance, end of period at Dec. 31, 2017 | 261,817 | 1,857 | $ 199,851 | 66,816 | (3,313) | 265,211 | (3,394) | ||||||||||
Income attributable to preferred unitholders | 25,453 | $ (24,900) | $ (500) | ||||||||||||||
Net income (loss) | 139,537 | 139,537 | |||||||||||||||
Net income | 140,047 | 2,791 | $ 136,746 | 510 | |||||||||||||
Distributions to unitholders | $ (22,036) | $ (450) | $ (22,486) | $ (22,486) | $ (30,265) | $ (605) | $ (29,660) | $ (30,265) | |||||||||
Partners' Capital Account, Units, Unit-based Compensation | 17 | ||||||||||||||||
Partners' Capital Account, Unit-based Compensation | 546 | $ 546 | 546 | ||||||||||||||
Partners' Capital Account, Unit-based Compensation, Amortization | 560 | 560 | 560 | ||||||||||||||
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent, Excluding General Partner Distributions | (149) | 12 | $ 49 | (149) | (51) | ||||||||||||
Comprehensive income from unconsolidated investment and other | (139) | (88) | |||||||||||||||
Balance, end of period (in shares) at Dec. 31, 2018 | 12,249 | ||||||||||||||||
Balance, end of period at Dec. 31, 2018 | 420,546 | $ 5,014 | $ 355,113 | $ 66,816 | $ (3,462) | $ 423,481 | $ (2,935) | ||||||||||
Income attributable to preferred unitholders | $ 30,000 | $ (29,400) | $ (600) |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations | $ 206,030 | $ 29,827 | $ 40,371 |
Net income | 140,047 | 88,667 | 96,892 |
Adjustments to reconcile net income to net cash provided by operating activities of continuing operations: | |||
Depreciation, depletion and amortization | 21,689 | 22,406 | 28,581 |
Amortization expense—affiliate | 0 | 1,008 | 3,185 |
Distributions from unconsolidated investment | 44,453 | 43,354 | 46,550 |
Equity earnings from unconsolidated investment | (48,306) | (40,457) | (40,061) |
Gain on asset sales, net | (2,441) | (3,545) | (29,068) |
Debt modification expense | 0 | 7,939 | 0 |
Loss on extinguishment of debt | 0 | 4,107 | 0 |
Income from discontinued operations | (17,687) | (6,182) | (6,266) |
Asset impairments | 18,280 | 2,967 | 15,861 |
Unit-based compensation expense | 1,434 | 18 | 1,217 |
Amortization of debt issuance costs and other | 7,334 | 9,077 | 8,638 |
Other—affiliates | (201) | 1,207 | 993 |
Change in operating assets and liabilities: | |||
Accounts receivable | (6,251) | 5,905 | 1,545 |
Accounts receivable—affiliates | 127 | 367 | (313) |
Accounts payable | (238) | (185) | 517 |
Accounts payable—affiliates | 1,376 | 1 | 0 |
Accrued liabilities | 134 | (8,478) | 3,628 |
Accrued liabilities—affiliates | (115) | 515 | 0 |
Accrued interest | (1,138) | (105) | (779) |
Accrued interest—affiliates | 0 | 0 | (456) |
Deferred revenue | 19,465 | (5,791) | (35,881) |
Deferred revenue—affiliates | 0 | (10,166) | (12,063) |
Other items, net | 320 | (478) | (2,477) |
Net cash provided by operating activities of continuing operations | 178,282 | 112,151 | 80,243 |
Net cash provided by operating activities of discontinued operations | 10,641 | 14,988 | 27,718 |
Net cash provided by operating activities | 188,923 | 127,139 | 107,961 |
Cash flows from investing activities | |||
Distributions from unconsolidated investment in excess of cumulative earnings | 2,097 | 5,646 | 0 |
Proceeds from sale of assets | 2,449 | 1,151 | 62,117 |
Return of long-term contract receivable | 3,061 | 2,206 | 0 |
Return of long-term contract receivable—affiliate | 0 | 804 | 2,968 |
Acquisition of plant and equipment and other | 0 | 0 | (28) |
Net cash provided by investing activities of continuing operations | 7,607 | 9,807 | 65,057 |
Net cash provided by (used in) investing activities of discontinued operations | 183,021 | (6,264) | 101,758 |
Net cash provided by investing activities | 190,628 | 3,543 | 166,815 |
Cash flows from financing activities | |||
Proceeds from issuance of preferred units and warrants, net | 0 | 242,100 | 0 |
Proceeds from issuance of 2022 Senior Notes, net | 0 | 103,688 | 0 |
Borrowings on credit facility | 35,000 | 77,000 | 20,000 |
Repayments of loans | (175,706) | (492,319) | (183,141) |
Contributions from discontinued operations | 195,690 | 5,784 | 52,642 |
Debt issuance costs and other | (228) | (39,091) | (13,409) |
Net cash used in financing activities of continuing operations | (6,839) | (134,149) | (146,373) |
Net cash used in financing activities of discontinued operations | (196,509) | (7,077) | (139,805) |
Net cash used in financing activities | (203,348) | (141,226) | (286,178) |
Net increase (decrease) in cash, cash equivalents and restricted cash | 176,203 | (11,402) | |
Cash, cash equivalents and restricted cash of discontinued operations at beginning of period | 0 | 2,847 | 1,200 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | 206,030 | 26,980 | 39,171 |
Cash paid during the period for interest from continuing operations | 64,991 | 72,850 | 84,380 |
Issuance of 2022 Senior Notes in exchange for 2018 Senior Notes | 0 | 240,638 | 0 |
Preferred Partner | |||
Cash flows from financing activities | |||
Distributions to common unitholders and general partner | (30,265) | (8,844) | 0 |
General Partner | |||
Cash flows from financing activities | |||
Distributions to common unitholders and general partner | (22,486) | (22,467) | (22,465) |
Class A Convertible Preferred Units | |||
Cash flows from financing activities | |||
Dividends, Preferred Stock, Paid-in-Kind, Cash Redemption Payment | $ (8,844) | $ 0 | $ 0 |
Organization and Nature of Oper
Organization and Nature of Operations | 12 Months Ended |
Dec. 31, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization and Nature of Operations | Organization and Nature of Operations Natural Resource Partners L.P. (the "Partnership"), a Delaware limited partnership, was formed in April 2002. The general partner of the Partnership is NRP (GP) LP ("NRP GP"), a Delaware limited partnership, whose general partner is GP Natural Resource Partners LLC, a Delaware limited liability company. The Partnership engages principally in the business of owning, managing and leasing a diversified portfolio of mineral properties in the United States, including interests in coal, trona, soda ash and other natural resources and is organized into two operating segments further described in Note 8. Segment Information. As used in these Notes to Consolidated Financial Statements, the terms "NRP," "we," "us" and "our" refer to Natural Resource Partners L.P. and its subsidiaries, unless otherwise stated or indicated by context. The Partnership’s operations are conducted through, and its operating assets are owned by, its subsidiaries. The Partnership owns its subsidiaries through one wholly owned operating company, NRP (Operating) LLC ("Opco"). NRP GP has sole responsibility for conducting the Partnership's business and for managing its operations. Because NRP GP is a limited partnership, its general partner, GP Natural Resource Partners LLC, conducts its business and operations, and the board of directors and officers of GP Natural Resource Partners LLC makes decisions on its behalf. Robertson Coal Management LLC ("RCM"), a limited liability company wholly owned by Corbin J. Robertson, Jr., owns all of the membership interest in GP Natural Resource Partners LLC. Subject to the Board Representation and Observation Rights Agreement with certain entities controlled by funds affiliated with The Blackstone Group, L.P. (collectively referred to as "Blackstone") and affiliates of GoldenTree Asset Management LP (collectively referred to as "GoldenTree"), RCM is entitled to appoint the directors of the Board of Directors of GP Natural Resource Partners LLC. RCM has delegated the right to appoint one director to Blackstone. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2018 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies Basis of Presentation The accompanying Consolidated Financial Statements of the Partnership have been prepared in accordance with generally accepted accounting principles in the United States of America ("GAAP"). The consolidated financial statements include the accounts of Natural Resource Partners L.P. and its wholly owned subsidiaries, as well as BRP LLC ("BRP"), a joint venture with International Paper Company controlled by the Partnership. The Partnership has an equity investment in Ciner Wyoming through which it is able to exercise significant influence over but does not control the investee and is not the primary beneficiary of the investee’s activities and is accounted for using the equity method. Intercompany transactions and balances have been eliminated. Certain reclassifications have been made to prior year amounts on the Consolidated Statements of Comprehensive Income and Consolidated Statements of Cash Flows to conform with current year presentation. These reclassifications have no impact on previously reported net income or total cash flows from operating, investing or financing activities. Recasting of Certain Prior Period Information As described in Note 4. Discontinued Operations , the Partnership has classified the assets and liabilities, operating results and cash flows of its construction aggregates business as discontinued operations in its consolidated financial statements for all periods presented. Use of Estimates Preparation of the accompanying financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities in the accompanying Consolidated Balance Sheets, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses in the accompanying Consolidated Statements of Comprehensive Income during the reporting period. Actual results could differ from those estimates. The most significant estimates pertain to coal and aggregates reserves and related cash flow estimates which are used to compute depreciation, depletion and amortization and impairments of coal and aggregates properties and commitments and contingencies. Fair Value The Partnership discloses certain assets and liabilities using fair value as defined by authoritative guidance. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. See Note 14. Fair Value Measurements for further details. There are three levels of inputs that may be used to measure fair value: • Level 1—Quoted prices in active markets for identical assets or liabilities. • Level 2—Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. • Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities include financial assets and liabilities whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation. Cash, Cash Equivalents and Restricted Cash The Partnership considers all highly liquid short-term investments with an original maturity of three months or less to be cash equivalents. Restricted cash at December 31, 2018 included cash proceeds received from the sale of the Partnership's construction aggregates business required to be used to repay debt, make acquisitions or make capital expenditures per the terms of its and Opco's debt agreements, as defined in Note 13. Debt, Net . NRP intends to use these proceeds to repay debt. Allowance for Doubtful Accounts The Partnership records an allowance for doubtful accounts for its accounts receivables and notes receivables which it determines to be uncollectible based on the specific identification method. Receivables are written off when collection efforts are exhausted and future recovery is doubtful. The allowance for doubtful accounts receivable is included in Accounts receivable, net and the allowance for doubtful accounts for notes receivable is included in Other current assets on the Partnership's Consolidated Balance Sheets, respectively. The allowance for doubtful accounts related to accounts receivable was $4.8 million at December 31, 2017 . The allowance for doubtful accounts related to notes receivable included in Other current assets was $1.2 million at both December 31, 2018 and 2017, respectively. The Partnership recorded bad debt expense of $0.1 million , $2.4 million and $0.3 million , respectively, included in Operating and maintenance expense (including affiliates) on its Consolidated Statements of Comprehensive Income for the years ended December 31, 2018, 2017 and 2016, respectively. Plant and Equipment Plant and equipment is recorded at its original cost of construction or, upon acquisition, at fair value of the asset acquired and consists of coal preparation plants, related coal handling facilities, and other coal and aggregates transportation and processing infrastructure. Expenditures for new facilities or that substantially increase the useful life of property are capitalized and reported in the Consolidated Statements of Cash Flows as an investing activity. These assets are depreciated on a straight-line basis over their useful lives generally as follows: Years Buildings and improvements 20 to 40 Machinery and equipment 5 to 12 Leasehold improvements Life of Lease Mineral Rights Mineral rights owned and leased are recorded at its original cost of construction or, upon acquisition, at fair value of the assets acquired. Coal and aggregates mineral rights are depleted on a unit-of-production basis by lease, based upon minerals mined in relation to the net cost of the mineral properties and estimated proven and probable tonnage therein. Intangible Assets The Partnership’s intangible assets consist primarily of contracts that at acquisition were more favorable for the Partnership than prevailing market rates, known as above-market contracts. Management expects for the above-market rates to be received until the reserves are exhausted on its above-market contracts, which includes additional renewal terms of the respective leases. The estimated fair values of the above-market rate contracts are determined based on the present value of future cash flow projections related to the underlying assets acquired. Intangible assets are amortized on a unit-of-production basis. Asset Impairment The Partnership has developed procedures to evaluate its long-lived assets for possible impairment periodically or whenever events or changes in circumstances indicate an asset's carrying amount may not be recoverable. Potential events or circumstances include, but are not limited to, specific events such as a reduction in economically recoverable reserves or production ceasing on a property for an extended period. This analysis is based on historic, current and future performance and considers both quantitative and qualitative information. A long-lived asset is deemed impaired when the future expected undiscounted cash flows from its use and disposition is less than the assets’ carrying value. Impairment is measured based on the estimated fair value, which is usually determined based upon the present value of the projected future cash flow compared to the assets’ carrying value. The Partnership believes its estimates of cash flows and discount rates are consistent with those of principal market participants. The Partnership evaluates its equity investment for impairment when events or changes in circumstances indicate, in management’s judgment, that the carrying value of such investment may have experienced an other-than-temporary decline in value. When evidence of loss in value has occurred, management compares the estimated fair value of the investment to the carrying value of the investment to determine whether potential impairment has occurred. If the estimated fair value is less than the carrying value and management considers the decline in value to be other than temporary, the excess of the carrying value over the estimated fair value is recognized in the financial statements as an impairment loss. The fair value of the impaired investment is based on quoted market prices (Level 1), or upon the present value of expected cash flows using discount rates believed to be consistent with those used by principal market participants (Level 3), plus market analysis of comparable assets owned by the investee, if appropriate. Revenue Recognition Coal Royalty and Other Segment Revenues Royalty-based leases. Approximately two-thirds of the Partnership's royalty-based leases have initial terms of five to 40 years, with substantially all lessees having the option to extend the lease for additional terms. For these types of leases, the lessees generally make payments to NRP based on the greater of a percentage of the gross sales price or a fixed price per ton of mineral they mine or sell. Most of NRP’s coal and aggregates royalty leases require the lessee to pay quarterly or annual minimum amounts, either made in advance or arrears, which are generally recoupable through actual royalty production over certain time periods that generally range from three to five years. In accordance with previous accounting standards in effect prior to January 1, 2018, NRP recognized all coal and aggregates royalty revenue over the lease term based on production. The recognition of revenue from minimum payments was deferred until either recoupment through royalty production occurred or when the recoupment period expired for unrecouped minimums. Under the new revenue recognition standard, management has defined NRP's coal and aggregates royalty lease performance obligation as providing the lessee the right to mine and sell NRP's coal or aggregates over the lease term. The Partnership then evaluated the likelihood that consideration NRP expected to receive from its lessees resulting from production would exceed consideration expected to be received from minimum payments over the lease term. As a result of this evaluation, revenue recognition from the Partnership's royalty-based leases is based on either production or minimum payments as follows: • Production Leases : Leases for which the Partnership expects that consideration from production will be greater than consideration from minimums over the lease term. Revenue recognition for these leases is recognized over time based on production as Coal royalty revenue or Aggregates royalty revenue, as applicable. Deferred revenue from minimums is recognized as royalty revenue when recoupment occurs or as Production lease minimum revenue when the recoupment period expires. In addition, NRP recognizes breakage revenue from minimums when NRP determines that recoupment is remote. This breakage revenue is included in Production lease minimum revenue. • Minimum Leases : Leases for which the Partnership expects that consideration from minimums will be greater than consideration from production over the lease term. Revenue recognition for these leases is recognized straight-line over the lease term based on the minimum consideration amount as Minimum lease straight-line revenue. This evaluation is performed at the inception of the lease and only reassessed upon modification or renewal of the lease. Oil and gas related revenues consist of revenues from royalties and overriding royalties and are recognized on the basis of volume of hydrocarbons sold by lessees and the corresponding revenue from those sales. Also, included within oil and gas royalties are lease bonus payments, which are generally paid upon the execution of a lease. The Partnership also has overriding royalty revenue interests in coal reserves. Revenue from these interests is recognized over time based on when the coal is sold. Wheelage. Revenue related to fees collected per ton to transport foreign coal across property owned by the Partnership that is recognized over time as transportation across the property occurs. Other revenue. Other revenue consists primarily of rental payments and surface damage fees related to certain land owned by the Partnership and is recognized straight-line over time as it is earned. Other revenues also include property tax revenues. The majority of property taxes paid on the Partnership's properties are reimbursable by the lessee and are recognized on a gross basis over time which reflects the reimbursement of property taxes by the lessee. Property taxes paid by NRP are included in Operating and maintenance expenses on the Partnership's Consolidated Statements of Comprehensive Income. Transportation and processing services revenue. The Partnership owns transportation and processing infrastructure that is leased to third parties for throughput fees. Revenue is recognized over time based on the coal tons transported over the beltlines or processed through the facilities. Contract modifications Contract modifications that impact goods or services or the transaction price are evaluated in accordance with ASC 606. A majority of the Partnership's contract modifications pertain to its coal and aggregates royalty contracts and include, but are not limited to, extending the lease term, changes to royalty rates, floor prices or minimum consideration, assignment of the contract, forfeiture of recoupment rights or termination due to the exhaustion of merchantable and mineable reserves. Consideration received in conjunction with a modification of an ongoing lease will be deferred and recognized straight-line over the remaining term of the contract. Consideration received to assign a lease to another party and related forfeited minimums will be recognized immediately upon the termination of the contract. Fees from contract modifications are recognized in Lease modification fees within Coal royalty and other revenues on our Consolidated Statements of Comprehensive Income while modifications in royalty rates and minimums will be recognized prospectively in accordance with the above lease classification. In accordance with the transition guidance in paragraph 606-10-65-1, revenues from contracts that were modified before January 1, 2018 were not retrospectively restated for those modifications and instead reflected the aggregate effect of those modifications when identifying the satisfied and unsatisfied performance obligations, determining the transaction price and allocating the transaction price to the satisfied and unsatisfied performance obligation. Contract Assets and Liabilities from Contracts with Customers Contract assets include receivables from contracts with customers and are recorded when the right to consideration becomes unconditional. Receivables are recognized when the minimums are contractually owed, production occurs or minimums accrued for based on the passage of time. Contract liabilities represent minimum consideration received, contractually owed or earned based on the passage of time. The current portion of deferred revenue relates to deferred revenue on minimum leases and lease modification fees that are to be recognized as revenue on a straight-line basis over the next twelve months. The long-term portion of deferred revenue relates to deferred revenue on production leases and lease modification fees that are to be recognized as revenue on a straight-line basis beyond the next twelve months. Due to uncertainty in the amount of deferred revenue that will be recouped and recognized as Coal royalty revenue from its production leases over the next twelve months, the Partnership is unable to estimate the current portion of deferred revenue. See "—Recently Adopted Accounting Standards—Revenue Recognition" below for information regarding the impact of adopting the new revenue recognition standard in January 2018. Equity in Earnings from Ciner Wyoming The Partnership accounts for non-marketable equity investments using the equity method of accounting if the investment gives it the ability to exercise significant influence over, but not control of, an investee. The Partnership's 49% investment in Ciner Wyoming is accounted for using this method. Under the equity method of accounting, investments are stated at initial cost and are adjusted for subsequent additional investments and the proportionate share of earnings or losses and distributions. The basis difference between the investment and the proportional share of investee's net assets is attributed to net tangible assets and is amortized over its estimated useful life. The carrying value in Ciner Wyoming is recognized in Equity in unconsolidated investment in the Partnership's Consolidated Balance Sheets. The Partnership's adjusted share of the earnings or losses of Ciner Wyoming and amortization of the basis difference is recognized in Equity in earnings of Ciner Wyoming in the Consolidated Statements of Comprehensive Income. The Partnership increases its investment for its proportional share of distributions received from Ciner Wyoming. These cash flows are reported utilizing the cumulative earnings approach. Under this approach, distributions received are considered returns on investment and classified as operating cash inflows unless the cumulative distributions received exceed the Partnership's cumulative equity in earnings. The excess of cumulative distributions received over the Partnership's cumulative equity in earnings are considered returns of investment and classified as investing cash inflows. Property Taxes The Partnership is responsible for paying property taxes on the properties it owns. Typically, the lessees are contractually responsible for reimbursing the Partnership for property taxes on the leased properties. The payment of and reimbursement of property taxes is included in Operating and maintenance expenses and in Coal royalty and other revenues, respectively, in the Consolidated Statements of Comprehensive Income. Transportation Revenue and Expense The Partnership records transportation revenue and pays transportation costs to a Foresight Energy LP ("Foresight Energy") affiliate to operate equipment on behalf of the Partnership. The revenue and expenses related to these transactions are recorded as Transportation and processing services (or Transportation and processing services—affiliates) and Operating and maintenance expenses or (Operating and maintenance expenses—affiliates), respectively, in the Consolidated Statements of Comprehensive Income. Subsequent to May 9, 2017, Foresight Energy is no longer deemed a related party. Refer to Note 15. Related Party Transactions for further details. Unit-Based Compensation The Partnership has awarded unit-based compensation in the form of equity-based awards and phantom units. Compensation cost is measured at the grant date for equity-classified awards and remeasured each reporting period for liability-classified awards based on the fair value of an award and is recognized over the service period, which is generally the vesting period. Forfeitures are recognized as they occur. Unit-based compensation expense for all awards is recognized in General and administrative expense and Operating and maintenance expense in the Consolidated Statements of Comprehensive Income. Deferred Financing Costs Deferred financing costs consist of legal and other costs related to the issuance of the Partnership’s debt. These costs are amortized over the term of the respective line-of-credit or debt arrangements. Deferred financing costs related to the Partnership's revolving credit facility are included in Other assets (long-term) on the Partnership's Consolidated Balance Sheets. Deferred financing costs related to the Partnership's note agreements are included as a direct deduction from the carrying amount of the debt liability in Current portion of long-term debt, net or Long-term debt, net on the Partnership's Consolidated Balance Sheets. Income Taxes The Partnership is not subject to federal or material state income taxes, as the unitholders are taxed individually on their allocable share of taxable income. Net income for financial statement purposes may differ significantly from taxable income reportable to unitholders as a result of differences between the tax basis and financial reporting basis of assets and liabilities. In the event of an examination of the Partnership’s tax return, the tax liability of the unitholders could be changed if an adjustment in the Partnership’s income is ultimately sustained by the taxing authorities. Recently Adopted Accounting Standards Revenue Recognition On January 1, 2018, NRP adopted Accounting Standards Codification (ASC) 606, Revenue from Contracts with Customers, and all the related amendments (the “new revenue standard” and "ASC 606") to all open contracts using the modified retrospective method. The adoption of the new revenue standard impacted royalty revenue from NRP's coal and aggregates royalty leases as further described below. NRP recognized a $70.5 million cumulative effect of adoption adjustment in the opening balance of partners' capital on January 1, 2018. Prior year information has not been restated and continues to be reported under the accounting standards in effect for those periods. The new revenue standard had no impact on revenues from NRP's Soda Ash operating segment or on the discontinued operations. A majority of NRP’s coal and aggregates royalty revenue continues to be recognized over the lease term based on production. For coal and aggregates royalty leases for which NRP expects consideration from minimum payments to be greater than consideration from production over the lease term, royalty revenue is now recognized straight-line over the lease term based on the minimum payment consideration. The cumulative effects of the changes made to the Partnership's Consolidated Balance Sheet at January 1, 2018 for the adoption of the new revenue standard were as follows: (In thousands) Balance at December 31, 2017 Adjustments due to ASC 606 Balance at January 1, 2018 Assets Accounts receivable, net (including affiliates) $ 24,211 $ 4,875 $ 29,086 Liabilities Current portion of deferred revenue $ — $ 1,022 $ 1,022 Deferred revenue 100,605 (66,613 ) 33,992 Partners’ capital Common unitholders’ interest $ 199,851 $ 69,057 $ 268,908 General partner’s interest 1,857 1,409 3,266 Total partners’ capital 265,211 70,466 335,677 The impact of adoption of the new revenue standard on NRP’s Consolidated Balance Sheet and Consolidated Statement of Comprehensive Income was as follows: As of December 31, 2018 (In thousands) As Reported Balances without Adoption of ASC 606 Effect of Change Assets Accounts receivable, net (including affiliates) $ 32,058 $ 27,520 $ 4,538 Total assets 1,341,647 1,337,109 4,538 Liabilities and capital Current portion of deferred revenue $ 3,509 $ — $ 3,509 Deferred revenue 49,044 62,783 (13,739 ) Total liabilities 756,514 766,744 (10,230 ) Partners’ capital Common unitholders’ interest $ 355,113 $ 340,640 $ 14,473 General partner’s interest 5,014 4,719 295 Total partners’ capital 423,481 408,713 14,768 Total liabilities and capital 1,341,647 1,337,109 4,538 For the Year Ended December 31, 2018 (In thousands, except per unit data) As Reported Amounts without Adoption of ASC 606 Effect of Change Coal royalty and other revenues (including affiliates) (1) $ 178,878 $ 234,428 $ (55,550 ) Net income from continuing operations 122,360 178,058 (55,698 ) Net income 140,047 195,745 (55,698 ) Net income per common unit (basic) 8.77 13.23 (4.46 ) Net income per common unit (diluted) 6.76 9.46 (2.70 ) (1) The total effect of adopting ASC 606 was $55.6 million during the year ended December 31, 2018, which included $33.4 million related to the forfeiture of recoupable balances in connection with the fourth quarter 2018 settlement of the Macoupin and Hillsboro lawsuits, the majority of which was previously recognized in partners' capital upon adoption and $7.2 million of modification fees and forfeited recoupable balances related to fourth quarter 2018 lease modifications which were deferred under ASC 606 and will be recognized straight-line over the respective modified lease terms. Recently Issued Accounting Standards Leases In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). The new standard requires a lessee to recognize assets and liabilities on the balance sheet for the present value of the rights and obligations created by all leases with terms of more than 12 months. This standard does not apply to leases that explore for or use minerals, oil, natural gas and similar non-regenerative resources, including the intangible right to explore for those natural resources and rights to use the land in which those natural resources are contained. The guidance also requires disclosures designed to give financial statement users information on the amount, timing and uncertainty of cash flows arising from leases. The guidance is effective for annual and interim periods beginning after December 15, 2018 and is to be adopted using a modified retrospective approach. The Partnership will adopt this standard effective January 1, 2019 and does not expect that the provisions of this guidance will have a material impact on its consolidated financial statements. |
Revenue from Contracts with Cus
Revenue from Contracts with Customers | 12 Months Ended |
Dec. 31, 2018 | |
Revenue from Contract with Customer [Abstract] | |
Revenue from Contracts with Customers | 3. Revenue from Contracts with Customers Coal Royalty and Other Segment The following table represents the Partnership's Coal Royalty and Other segment revenues (including affiliates) by major source: Year Ended (In thousands) December 31, 2018 Coal royalty revenue $ 129,341 Production lease minimum revenue 8,207 Minimum lease straight-line revenue 2,362 Property tax revenue 5,422 Wheelage revenue 6,484 Coal overriding royalty revenue 13,878 Aggregates royalty revenue 4,739 Oil and gas royalty revenue 6,608 Other revenue 1,837 Coal royalty and other revenues (1) $ 178,878 Transportation and processing services revenue (2) 23,887 Total Coal royalty and other segment revenues $ 202,765 (1) Represents revenue from contracts with customers as defined under ASC 606. (2) Revenue from contracts with customers as defined under ASC 606 was $13.2 million for the year ended December 31, 2018 . The remaining transportation and processing services revenue of $10.7 million for the year ended December 31, 2018 was related to other NRP-owned infrastructure leased to and operated by third party operators accounted for under ASC 840, Leases. See Note 15. Related Party Transactions for more information on the transportation and processing services. Contract Assets and Liabilities The following table details the Partnership's Coal Royalty and Other segment receivables and liabilities resulting from contracts with customers: December 31, January 1, (In thousands) 2018 2018 Receivables Total accounts receivable, net (including affiliates) (1) $ 29,001 $ 25,443 Prepaid expenses and other (2) 2,483 2,830 Contract liabilities Current portion of deferred revenue $ 3,509 $ 1,022 Deferred revenue 49,044 33,992 (1) Included in this amount is $4.4 million and $ 1.9 million of accounts receivable related to accrued minimum consideration as of December 31, 2018 and January 1, 2018, respectively. (2) Notes receivable from contracts with customers are included within Prepaid expenses and other in the Consolidated Balance Sheets. The following table shows the activity related to the Partnership's Coal Royalty and Other segment deferred revenue: Year Ended (In thousands) December 31, 2018 Balance at December 31, 2017 $ 100,605 Cumulative adjustment for change in accounting principle (1) (65,591 ) Balance at January 1, 2018 (current and non-current) $ 35,014 Recognition of previously deferred revenue (20,242 ) Accrued minimum payments and lease modification fees due 5,592 Cash received for minimum payments and lease modification fees 32,189 Balance at December 31, 2018 (current and non-current) (2) $ 52,553 (1) Included in this amount is $(67.5) million recognized in Partners' capital and $1.9 million of accrued minimum consideration recognized in Accounts receivable, net. (2) Included in this amount is $7.2 million of deferred modification fees and forfeited recoupable balances which will be recognized straight-line over the respective modified lease terms in Coal Royalty and other revenues on the Consolidated Statements of Comprehensive Income over the remaining terms of the modified leases, which extend over the next 6 years . The following table shows the Partnership's Coal Royalty and Other segment revenue recognized during the year ended December 31, 2018 that was included in the deferred revenue balance at the beginning of the period: Year Ended (In thousands) December 31, 2018 Production leases - revenue impact Recoupments recognized in Coal and aggregates royalty revenue $ 10,178 Breakage revenue recognized in Production lease minimum revenue 7,169 Expiration of unrecouped minimums recognized in Production lease minimum revenue 935 Minimum leases - revenue impact Minimum lease amortization recognized in Minimum lease straight-line revenue 1,960 Total previously deferred revenue recognized $ 20,242 Remaining Performance Obligations The Partnership's non-cancelable annual minimum payments due under the lease terms of its coal and aggregates royalty leases are as follows: Lease Term (1) Weighted Average Remaining Years as of December 31, 2018 Annual Minimum Payments (In thousands) 1 - 5 years 0.6 $ 13,072 5 - 10 years 1.3 13,060 10+ years 9.0 41,202 (1) The Partnership applied the practical expedient for disclosing remaining performance obligations for contracts with an expected duration of one year or less, and have excluded those contracts from this disclosure. The Partnership's non-cancelable annual minimum payments on its coal and aggregates royalty leases are recognized as revenue as discussed above. In addition, the Partnership's non-cancelable annual minimum payments due under terms of its coal and aggregates overriding royalty agreements include a $1.8 million annual minimum that expires in 2023 and a $1.0 million minimum that expires upon exhaustion of the mineable and recoverable coal reserves, respectively. |
Discontinued Operations
Discontinued Operations | 12 Months Ended |
Dec. 31, 2018 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Disposal Groups, Including Discontinued Operations | Discontinued Operations In December 2018, the Partnership sold VantaCore Partners LLC, its construction aggregates materials business for $205 million , before customary purchase price adjustments and transaction expenses, and recorded a gain of $13.1 million . The Partnership's debt agreements require that 75% of the asset sale proceeds be used to pay down the Opco Revolving Credit Facility (as defined in Note 13. Debt, Net ) and 25% be offered to the holders of its Opco Senior Notes (as defined in Note 13. Debt, Net ) on a pro-rata basis. The outstanding balance was repaid on the Opco Revolving Credit Facility in December 2018, $49 million was offered to the holders of the Opco Senior Notes in December 2018 and paid in January 2019 and the remaining $55 million of net cash proceeds was restricted as of December 31, 2018. NRP intends to use these remaining proceeds to repay its Opco Senior Notes as they amortize in 2019. In July 2016, NRP Oil and Gas LLC ("NRP Oil and Gas") sold its non-operated oil and gas working interest assets for $116.1 million in gross sales proceeds. The sale had an effective date of April 1, 2016. The Partnership's exit from both its construction aggregates materials business and non-operated oil and gas working interest business represented strategic shifts to reduce debt and focus on its Coal Royalty and Other and Soda Ash business segments. As a result, the Partnership classified the assets and liabilities, operating results and cash flows of these businesses as discontinued operations in its Consolidated Balance Sheets, Consolidated Statements of Comprehensive Income and Consolidated Statements of Cash Flows for all periods presented. The following tables present the carrying amounts of the Partnership's assets and liabilities of discontinued operations in the Consolidated Balance Sheets: December 31, 2018 (In thousands) Construction Aggregates NRP Total ASSETS Current assets: Accounts receivable, net $ 5 $ 988 $ 993 Total assets of discontinued operations $ 5 $ 988 $ 993 LIABILITIES Current liabilities: Accounts payable (including affiliates) $ 181 $ — $ 181 Accrued liabilities 766 — 766 Total liabilities of discontinued operations $ 947 $ — $ 947 December 31, 2017 (In thousands) Construction Aggregates NRP Total ASSETS Current assets: Cash and cash equivalents $ 2,847 $ — $ 2,847 Accounts receivable, net 22,976 991 23,967 Inventory 7,553 — 7,553 Prepaid expenses and other 2,056 — 2,056 Total current assets of discontinued operations 35,432 991 36,423 Land 1,239 — 1,239 Plant and equipment, net 44,822 — 44,822 Mineral rights, net 105,466 — 105,466 Intangible assets, net 2,734 — 2,734 Other assets 1,681 — 1,681 Total assets of discontinued operations $ 191,374 $ 991 $ 192,365 LIABILITIES Current liabilities: Accounts payable (including affiliates) (1) $ 6,019 $ — $ 6,019 Accrued liabilities 5,348 — 5,348 Other — 401 401 Total current liabilities of discontinued operations 11,367 401 11,768 Other non-current liabilities 2,220 — 2,220 Total liabilities of discontinued operations $ 13,587 $ 401 $ 13,988 (1) See Note 15. Related Party Transactions for additional information on the Partnership's related party liabilities. The following tables present summarized financial results of the Partnership's discontinued operations in the Consolidated Statements of Comprehensive Income: For the Year Ended December 31, 2018 (In thousands) Construction Aggregates NRP Oil and Gas Total Revenues and other income: Construction aggregates $ 116,066 $ — $ 116,066 Road construction and asphalt paving services 18,400 — 18,400 Oil and gas — (3 ) (3 ) Gain on asset sales, net 13,414 — 13,414 Total revenues and other income $ 147,880 $ (3 ) $ 147,877 Operating expenses: Operating and maintenance expenses (including affiliates) (1) $ 117,568 $ 134 $ 117,702 Depreciation, depletion and amortization 12,218 — 12,218 Asset impairments 232 — 232 Total operating expenses $ 130,018 $ 134 $ 130,152 Interest expense, net (38 ) — (38 ) Income (loss) from discontinued operations $ 17,824 $ (137 ) $ 17,687 (1) See Note 15. Related Party Transactions for additional information on the Partnership's related party expenses. For the Year Ended December 31, 2017 (In thousands) Construction Aggregates NRP Oil and Gas Total Revenues and other income: Construction aggregates $ 112,970 $ — $ 112,970 Road construction and asphalt paving services 18,411 — 18,411 Oil and gas — 38 38 Gain (loss) on asset sales 311 (289 ) 22 Total revenues and other income $ 131,692 $ (251 ) $ 131,441 Operating expenses: Operating and maintenance expenses (including affiliates) (1) $ 111,633 $ 290 $ 111,923 Depreciation, depletion and amortization 12,579 — 12,579 Asset impairments 64 — 64 Total operating expenses $ 124,276 $ 290 $ 124,566 Interest expense, net (693 ) — (693 ) Income (loss) from discontinued operations $ 6,723 $ (541 ) $ 6,182 (1) See Note 15. Related Party Transactions for additional information on the Partnership's related party expenses. For the Year Ended December 31, 2016 (In thousands) Construction Aggregates NRP Oil and Gas Total Revenues and other income: Construction aggregates $ 103,755 $ — $ 103,755 Road construction and asphalt paving services 17,047 — 17,047 Oil and gas — 16,486 16,486 Gain on asset sales, net 13 8,274 8,287 Total revenues and other income $ 120,815 $ 24,760 $ 145,575 Operating expenses: Operating and maintenance expenses (including affiliates) (1) $ 100,656 $ 11,503 $ 112,159 Depreciation, depletion and amortization 14,506 7,527 22,033 Asset impairments 1,065 564 1,629 Total operating expenses $ 116,227 $ 19,594 $ 135,821 Interest expense, net — (3,488 ) (3,488 ) Income from discontinued operations $ 4,588 $ 1,678 $ 6,266 (1) See Note 15. Related Party Transactions for additional information on the Partnership's related party expenses. The following table presents supplemental cash flow information of the Partnership's discontinued operations: Year Ended December 31, (In thousands) 2018 2017 2016 Cash paid for interest $ — $ — $ 1,906 Plant, equipment and mineral rights funded with accounts payable or accrued liabilities 881 294 — Capital expenditures related to the Partnership's discontinued operations were $10.9 million , $7.6 million and $6.7 million during the years ended December 31, 2018, 2017 and 2016, respectively. |
Class A Convertible Preferred U
Class A Convertible Preferred Units and Warrants | 12 Months Ended |
Dec. 31, 2018 | |
Equity [Abstract] | |
Class A Convertible Preferred Units and Warrants | Class A Convertible Preferred Units and Warrants On March 2, 2017, NRP issued $250 million of Class A Convertible Preferred Units representing limited partner interests in NRP (the "Preferred Units") to certain entities controlled by funds affiliated with The Blackstone Group, L.P. (collectively referred to as "Blackstone") and certain affiliates of GoldenTree Asset Management LP (collectively referred to as "GoldenTree") (together the "Preferred Purchasers") pursuant to a Preferred Unit and Warrant Purchase Agreement. NRP issued 250,000 Preferred Units to the Preferred Purchasers at a price of $1,000 per Preferred Unit (the "Per Unit Purchase Price"), less a 2.5% structuring and origination fee. The Preferred Units entitle the Preferred Purchasers to receive cumulative distributions at a rate of 12% per year, up to one half of which NRP may pay in additional Preferred Units (such additional Preferred Units, the "PIK Units"). The Preferred Units have a perpetual term, unless converted or redeemed as described below. NRP also issued two tranches of warrants (the "Warrants") to purchase common units to the Preferred Purchasers (Warrants to purchase 1.75 million common units with a strike price of $22.81 and Warrants to purchase 2.25 million common units with a strike price of $34.00 ). The Warrants may be exercised by the holders thereof at any time before the eighth anniversary of the closing date. Upon exercise of the Warrants, NRP may, at its option, elect to settle the Warrants in common units or cash, each on a net basis. After March 2, 2022 and prior to March 2, 2025, the holders of the Preferred Units may elect to convert up to 33% of the outstanding Preferred Units in any 12-month period into common units if the volume weighted average trading price of our common units (the "VWAP") for the 30 trading days immediately prior to date notice is provided is greater than $51.00 . In such case, the number of common units to be issued upon conversion would be equal to the Per Unit Purchase Price plus the value of any accrued and unpaid distributions divided by an amount equal to a 7.5% discount to the VWAP for the 30 trading days immediately prior to the notice of conversion. Rather than have the Preferred Units convert to common units in accordance with the provisions of this paragraph, NRP would have the option to elect to redeem the Preferred Units proposed to be converted for cash at a price equal to Per Unit Purchase Price plus the value of any accrued and unpaid distributions. On or after March 2, 2025, the holders of the Preferred Units may elect to convert the Preferred Units to common units at a conversion rate equal to the Liquidation Value divided by an amount equal to a 10% discount to the VWAP for the 30 trading days immediately prior to the notice of conversion. The “Liquidation Value” will be an amount equal to the greater of: (1) (a) the Per Unit Purchase Price multiplied by (i) prior to March 2, 2020, 1.50 , (ii) on or after March 2, 2020 and prior to March 2, 2021, 1.70 and (iii) on or after March 2, 2021, 1.85 , less (b)(i) all Preferred Unit distributions previously made by NRP and (ii) all cash payments previously made in respect of redemption of any PIK Units; and (2) the Per Unit Purchase Price plus the value of all accrued and unpaid distributions. To the extent the holders of the Preferred Units have not elected to convert their Preferred Units before March 2, 2029, NRP has the right to force conversion of the Preferred Units at a price equal to the Liquidation Value divided by an amount equal to a 10% discount to the VWAP for the 30 trading days immediately prior to the notice of conversion. In addition, NRP has the ability to redeem at any time (subject to compliance with its debt agreements) all or any portion of the Preferred Units and any outstanding PIK Units for cash. The redemption price for each outstanding PIK Unit is $1,000 plus the value of any accrued and unpaid distributions per PIK Unit. The redemption price for each Preferred Unit is the Liquidation Value divided by the number of outstanding Preferred Units. The Preferred Units are redeemable at the option of the Preferred Purchasers only upon a change in control. The terms of the Preferred Units contain certain restrictions on NRP's ability to pay distributions on its common units. To the extent that either (i) NRP's consolidated Leverage Ratio, as defined in the Partnership's Fifth Amended and Restated Partnership Agreement dated March 2, 2017 (the "Restated Partnership Agreement"), is greater than 3.25 x, or (ii) the ratio of NRP's Distributable Cash Flow (as defined in the Restated Partnership Agreement) to cash distributions made or proposed to be made is less than 1.2 x (in each case, with respect to the most recently completed four-quarter period), NRP may not increase the quarterly distribution above $0.45 per quarter without the approval of the holders of a majority of the outstanding Preferred Units. In addition, if at any time after January 1, 2022, any PIK Units are outstanding, NRP may not make distributions on its common units until it has redeemed all PIK Units for cash. The holders of the Preferred Units have the right to vote with holders of NRP’s common units on an as-converted basis and have other customary approval rights with respect to changes of the terms of the Preferred Units. In addition, Blackstone has certain approval rights over certain matters as identified in the Restated Partnership Agreement. GoldenTree also has more limited approval rights that will expand once Blackstone's ownership goes below the Minimum Preferred Unit Threshold (as defined below). These approval rights are not transferrable without NRP's consent. In addition, the approval rights held by Blackstone and GoldenTree will terminate at such time that Blackstone (together with their affiliates) or GoldenTree (together with their affiliates), as applicable, no longer own at least 20% of the total number of Preferred Units issued on the closing date, together with all PIK Units that have been issued but not redeemed (the "Minimum Preferred Unit Threshold"). At the closing, pursuant to the Board Representation and Observation Rights Agreement, the Preferred Purchasers received certain board appointment and observation rights, and Blackstone appointed one director and one observer to the Board of Directors of GP Natural Resource Partners LLC. NRP also entered into a registration rights agreement (the "Preferred Unit and Warrant Registration Rights Agreement") with the Preferred Purchasers, pursuant to which NRP is required to file (i) a shelf registration statement to register the common units issuable upon exercise of the Warrants and to cause such registration statement to become effective not later than 90 days following the closing date and (ii) a shelf registration statement to register the common units issuable upon conversion of the Preferred Units and to cause such registration statement to become effective not later than the earlier of the fifth anniversary of the closing date or 90 days following the first issuance of any common units upon conversion of Preferred Units (the "Registration Deadlines"). In addition, the Preferred Unit and Warrant Registration Rights Agreement gives the Preferred Purchasers piggyback registration and demand underwritten offering rights under certain circumstances. The shelf registration statement to register the common units issuable upon exercise of the Warrants became effective on April 20, 2017. If the shelf registration statement to register the common units issuable upon conversion of the Preferred Units is not effective by the applicable Registration Deadline, NRP will be required to pay the Preferred Purchasers liquidated damages in the amounts and upon the term set forth in the Preferred Unit and Warrant Registration Rights Agreement. Accounting for the Preferred Units and Warrants Classification The Preferred Units are accounted for on NRP's consolidated balance sheets as temporary equity due to certain contingent redemption rights that may be exercised at the election of Preferred Purchasers. The Warrants are accounted for on NRP's consolidated balance sheets as equity. Initial Measurement The net transaction price as shown below was allocated to the Preferred Units and Warrants based on their relative fair values at inception date. NRP allocated the transaction issuance costs to the Preferred Units and Warrants primarily on a pro-rata basis based on their relative inception date allocated values. The Preferred Units and Warrants were initially recognized as follows: (In thousands) March 2, 2017 Transaction price, gross $ 250,000 Structuring, origination and other fees to Preferred Purchasers (7,900 ) Transaction costs to other third parties (10,697 ) Transaction price, net $ 231,403 Allocation of net transaction price Preferred Units, net $ 164,587 Warrant holders interest, net 66,816 Transaction price, net $ 231,403 Subsequent Measurement Subsequent adjustment of the Preferred Units will not occur until NRP has determined that the conversion or redemption of all or a portion of the Preferred Units is probable of occurring. Once conversion or redemption becomes probable of occurring, the carrying amount of the Preferred Units will be accreted to their redemption value over the period from the date the feature is probable of occurring to the date the Preferred Units can first be converted or redeemed. During the three months ended March 31, 2018, the Partnership redeemed all of the outstanding PIK Units, which resulted in an $8.8 million cash payment during the period. Activity related to the Preferred Units is as follows: (In thousands, except unit data) Units Outstanding Financial Position Balance at December 31, 2016 — $ — Issuance of Preferred Units, net 250,000 164,587 Distribution paid-in-kind 8,844 8,844 Balance at December 31, 2017 258,844 $ 173,431 Redemption of PIK Units (8,844 ) (8,844 ) Balance at December 31, 2018 250,000 $ 164,587 Subsequent adjustment of the Warrants will not occur until the Warrants are exercised, at which time, NRP may, at its option, elect to settle the Warrants in common units or cash, each on a net basis. The net basis will be equal to the difference between the Partnership's common unit price and the strike price of the Warrant. Once Warrant exercise occurs, the difference between the carrying amount of the Warrants and the net settlement amount will be allocated on a pro-rata basis to the common unitholders and general partner. Certain embedded features within the Preferred Unit and Warrant purchase agreement are accounted for at fair value and are remeasured each quarter. See Note 14. Fair Value Measurements for further information regarding valuation of these embedded derivatives. |
Common and Preferred Unit Distr
Common and Preferred Unit Distributions | 12 Months Ended |
Dec. 31, 2018 | |
Equity [Abstract] | |
Common and Preferred Unit Distributions | Common and Preferred Unit Distributions The Partnership makes cash distributions to common unit holders on a quarterly basis, subject to approval by the Board of Directors. As discussed in Note 5. Class A Convertible Preferred Units and Warrants above, the Partnership also makes distributions to the preferred unitholders. NRP recognizes both Common and Preferred Unit distributions on the date the distribution is declared. Common Unit Distributions Distributions made on the common units and the general partner's general partner ("GP") interest are made on a pro-rata basis in accordance with their relative percentage interests in the Partnership. The general partner is entitled to receive 2% of such distributions. The following table shows the distributions declared and paid to common unitholders during the years ended December 31, 2018 , 2017 and 2016 , respectively: Total Distributions (in thousands) Date Paid Period Covered by Distribution Distribution per Common Unit Common Units GP Interest Total 2018 February 14, 2018 October 1 - December 31, 2017 $ 0.45 $ 5,505 $ 112 $ 5,617 May 14, 2018 January 1 - March 31, 2018 0.45 5,510 113 5,623 August 14, 2018 April 1 - June 30, 2018 0.45 5,511 112 5,623 November 14, 2018 July 1 - September 30, 2018 0.45 5,510 113 5,623 2017 February 14, 2017 October 1 - December 31, 2016 $ 0.45 $ 5,503 $ 112 $ 5,615 May 12, 2017 January 1 - March 31, 2017 0.45 5,506 113 5,619 August 14, 2017 April 1 - June 30, 2017 0.45 5,504 112 5,616 November 14, 2017 July 1 - September 30, 2017 0.45 5,505 112 5,617 2016 February 12, 2016 October 1 - December 31, 2015 $ 0.45 $ 5,503 $ 113 $ 5,616 May 13, 2016 January 1 - March 31, 2016 0.45 5,503 113 5,616 August 12, 2016 April 1 - June 30, 2016 0.45 5,505 112 5,617 November 14, 2016 July 1 - September 30, 2016 0.45 5,503 113 5,616 Preferred Unit Distributions The following table shows the distributions declared and paid to Preferred Unitholders during the years ended December 31, 2018 and 2017 : Date Paid Period Covered by Distribution Distribution per Preferred Unit Total Distribution Declared (in thousands) 2018 February 7, 2018 October 1 - December 31, 2017 $ 30.00 $ 7,765 May 14, 2018 January 1 - March 31, 2018 30.00 7,500 August 14, 2018 April 1 - June 30, 2018 30.00 7,500 November 14, 2018 July 1 - September 30, 2018 30.00 7,500 2017 May 30, 2017 March 2 - March 31, 2017 $ 5.00 $ 2,500 August 29, 2017 April 1 - June 30, 2017 15.00 7,538 November 29, 2017 July 1 - September 30, 2017 15.00 7,650 Income available to common unitholders and the general partner is reduced by Preferred Unit distributions that accumulated during the period. During the year ended December 31, 2018 and 2017 , NRP reduced net income attributable to common unitholders and the general partner by $30.0 million and $25.5 million , respectively as a result of accumulated Preferred Unit distributions earned during the period. The $7.5 million preferred unit distribution earned during the three months ended December 31, 2018 was paid on February 14, 2019. |
Net Income Per Common Unit
Net Income Per Common Unit | 12 Months Ended |
Dec. 31, 2018 | |
Earnings Per Share [Abstract] | |
Net Income Per Common Unit | Net Income Per Common Unit Basic net income per common unit is computed by dividing net income, after considering income attributable to non-controlling interest, preferred unitholders and the general partner’s general partner interest, by the weighted average number of common units outstanding. Diluted net income per common unit includes the effect of NRP's Preferred Units and Warrants, if the inclusion of these items is dilutive. The dilutive effect of the Preferred Units is calculated using the if-converted method. Under the if-converted method, the Preferred Units are assumed to be converted at the beginning of the period, and the resulting common units are included in the denominator of the diluted net income per unit calculation for the period being presented. Distributions declared in the period and undeclared distributions on the Preferred Units that accumulated during the period are added back to the numerator for purposes of the if-converted calculation. The dilutive effect of the Warrants is calculated using the treasury stock method, which assumes that the proceeds from the exercise of these instruments are used to purchase common units at the average market price for the period. The calculation of the dilutive effect of the Warrants for the years ended December 31, 2018 and 2017 includes the net settlement of Warrants to purchase 1.75 million common units with a strike price of $22.81 but did not include the net settlement of Warrants to purchase 2.25 million common units with a strike price of $34.00 because the impact would have been anti-dilutive. The following table reconciles the numerators and denominators of the basic and diluted net income per common unit computations and calculates basic and diluted net income per common unit: Year Ended December 31, (In thousands, except per unit data) 2018 2017 2016 Allocation of net income: Net income from continuing operations $ 122,360 $ 82,485 $ 90,626 Less: net income attributable to non-controlling interest (510 ) — — Less: income attributable to preferred unitholders (30,000 ) (25,453 ) — Net income from continuing operations attributable to common unitholders and general partner $ 91,850 $ 57,032 $ 90,626 Less: net income from continuing operations attributable to the general partner (1,837 ) (1,141 ) (1,537 ) Net income from continuing operations attributable to common unitholders $ 90,013 $ 55,891 $ 89,089 Net income from discontinued operations $ 17,687 $ 6,182 $ 6,266 Less: net income from discontinued operations attributable to the general partner (354 ) (123 ) (126 ) Net income from discontinued operations attributable to common unitholders $ 17,333 $ 6,059 $ 6,140 Net income $ 140,047 $ 88,667 $ 96,892 Less: net income attributable to non-controlling interest (510 ) — — Less: income attributable to preferred unitholders (30,000 ) (25,453 ) — Net income attributable to common unitholders and general partner $ 109,537 $ 63,214 $ 96,892 Less: net income attributable to the general partner (2,191 ) (1,264 ) (1,663 ) Net income attributable to common unitholders $ 107,346 $ 61,950 $ 95,229 Basic income per common unit: Weighted average common units—basic 12,244 12,232 12,232 Basic net income from continuing operations per common unit $ 7.35 $ 4.57 $ 7.28 Basic net income from discontinued operations per common unit $ 1.42 $ 0.50 $ 0.50 Basic net income per common unit $ 8.77 $ 5.06 $ 7.78 Year Ended December 31, (In thousands, except per unit data) 2018 2017 2016 Diluted income per common unit: Weighted average common units—basic 12,244 12,232 12,232 Plus: dilutive effect of Warrants 511 300 — Plus: dilutive effect of Preferred Units 7,479 9,418 — Weighted average common units—diluted 20,234 21,950 12,232 Net income from continuing operations $ 122,360 $ 82,485 $ 90,626 Less: net income attributable to non-controlling interest (510 ) — — Diluted net income from continuing operations attributable to common unitholders and general partner $ 121,850 $ 82,485 $ 90,626 Less: net income from continuing operations attributable to the general partner (2,437 ) (1,650 ) (1,537 ) Diluted net income from continuing operations attributable to common unitholders $ 119,413 $ 80,835 $ 89,089 Diluted net income from discontinued operations attributable to common unitholders $ 17,333 $ 6,059 $ 6,140 Net income $ 140,047 $ 88,667 $ 96,892 Less: net income attributable to non-controlling interest (510 ) — — Diluted net income attributable to common unitholders and general partner $ 139,537 $ 88,667 $ 96,892 Less: diluted net income attributable to the general partner (2,791 ) (1,773 ) (1,663 ) Diluted net income attributable to common unitholders $ 136,746 $ 86,894 $ 95,229 Diluted net income from continuing operations per common unit $ 5.90 $ 3.68 $ 7.28 Diluted net income from discontinued operations per common unit $ 0.86 $ 0.28 $ 0.50 Diluted net income per common unit $ 6.76 $ 3.96 $ 7.78 |
Segment Information
Segment Information | 12 Months Ended |
Dec. 31, 2018 | |
Segment Reporting [Abstract] | |
Segment Information | Segment Information The Partnership's segments are strategic business units that offer distinct products and services to different customers in different geographies within the U.S. and that are managed accordingly. NRP has the following two operating segments: Coal Royalty and Other —consists primarily of coal royalty and coal-related transportation and processing assets. Other assets include industrial minerals royalty properties, aggregates royalty properties, oil and gas royalty properties and timber. The Partnership's coal reserves are primarily located in Appalachia, the Illinois Basin and the Northern Powder River Basin in the United States. The Partnership's aggregates and industrial minerals properties are located in a number of states across the United States. The Partnership's oil and gas royalty assets are primarily located in Louisiana. Soda Ash —consists of the Partnership's 49% non-controlling equity interest in Ciner Wyoming, a trona ore mining operation and soda ash refinery in the Green River Basin of Wyoming. Ciner Resources LP, the Partnership's operating partner, mines the trona, processes it into soda ash, and distributes the soda ash both domestically and internationally to the glass and chemicals industries. In December 2018, the Partnership sold its construction aggregates business for $205 million , before customary purchase price adjustments and transaction expenses, and recorded a gain of $13.1 million . The Partnership's exit from the construction aggregates business enabled it to further reduce debt, focus on its Coal Royalty and Other and Soda Ash business segments and represented a strategic shift as it exited the operations of its construction aggregates business. The gain on sale and operating results of the construction aggregates business is included in Income from discontinued operations on the Consolidated Statements of Comprehensive Income and the net cash proceeds received is included in Cash provided by investing activities of discontinued operations in the Partnership's Consolidated Statements of Cash Flows for the year ended December 31, 2018. See Note 4. Discontinued Operations for more information. Direct segment costs and certain other costs incurred at the corporate level that are identifiable and that benefit the Partnership's segments are allocated to the operating segments accordingly. These allocated costs generally include insurance, taxes, legal, information technology and shared facilities services and are included in Operating and maintenance expenses and Operating and maintenance expenses—affiliates on the Consolidated Statements of Comprehensive Income. Corporate and Financing includes functional corporate departments that do not earn revenues. Costs incurred by these departments include interest and financing, corporate headquarters and overhead, centralized treasury and accounting and other corporate-level activity not specifically allocated to a segment and are included in General and administrative expenses and General and administrative expenses—affiliates on the Consolidated Statements of Comprehensive Income. The following table summarizes certain financial information for each of the Partnership's business segments: Operating Segments (In thousands) Coal Royalty and Other Soda Ash Corporate and Financing Total For the Year Ended December 31, 2018 Revenues (including affiliates) $ 202,765 $ 48,306 $ — $ 251,071 Gain on litigation settlement 25,000 — — 25,000 Gain on asset sales, net 2,441 — — 2,441 Operating and maintenance expenses (including affiliates) 29,509 — — 29,509 Depreciation, depletion and amortization 21,689 — — 21,689 General and administrative (including affiliates) — — 16,496 16,496 Asset impairments 18,280 — — 18,280 Other expense, net — — 70,178 70,178 Net income (loss) from continuing operations 160,728 48,306 (86,674 ) 122,360 Net income from discontinued operations — — — 17,687 As of December 31, 2018 Total assets of continuing operations $ 986,680 $ 247,051 $ 106,923 $ 1,340,654 Total assets of discontinued operations — — — 993 For the Year Ended December 31, 2017 Revenues (including affiliates) $ 202,323 $ 40,457 $ — $ 242,780 Gain on asset sales, net 3,545 — — 3,545 Operating and maintenance expenses 24,883 — — 24,883 Depreciation, depletion and amortization 23,414 — — 23,414 General and administrative (including affiliates) — — 18,502 18,502 Asset impairments 2,967 — — 2,967 Other expense, net — — 94,074 94,074 Net income (loss) from continuing operations 154,604 40,457 (112,576 ) 82,485 Net income from discontinued operations — — — 6,182 As of December 31, 2017 Total assets of continuing operations $ 945,237 $ 245,433 $ 6,129 $ 1,196,799 Total assets of discontinued operations — — — 192,365 For the Year Ended December 31, 2016 Revenues (including affiliates) $ 210,115 $ 40,061 $ — $ 250,176 Gain on asset sales, net 29,068 — — 29,068 Operating and maintenance expenses (including affiliates) 29,890 — — 29,890 Depreciation, depletion and amortization (including affiliates) 31,766 — — 31,766 General and administrative (including affiliates) — — 20,570 20,570 Asset impairments 15,861 — — 15,861 Other expense, net — — 90,531 90,531 Net income (loss) from continuing operations 161,666 40,061 (111,101 ) 90,626 Net income from discontinued operations — — — 6,266 Capital expenditures 5 — — 5 |
Equity Investment
Equity Investment | 12 Months Ended |
Dec. 31, 2018 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Equity Investment | Equity Investment The Partnership accounts for its 49% investment in Ciner Wyoming using the equity method of accounting. Activity related to this investment is as follows: For the Year Ended December 31, (In thousands) 2018 2017 2016 Balance at beginning of period $ 245,433 $ 255,901 $ 261,942 Income allocation to NRP’s equity interests (1) 53,095 44,846 44,882 Amortization of basis difference (4,789 ) (4,389 ) (4,821 ) Comprehensive income (loss) from unconsolidated investment (138 ) (1,925 ) 448 Distribution (46,550 ) (49,000 ) (46,550 ) Balance at end of period $ 247,051 $ 245,433 $ 255,901 (1) Includes reclassifications of accumulated other comprehensive loss to income allocation to NRP equity interest of $0.5 million , $0.7 million and $0.9 million for the year ended December 31, 2018, 2017 and 2016 , respectively. The difference between the amount at which the investment in Ciner Wyoming is carried and the amount of underlying equity in Ciner Wyoming's net assets was $140.8 million and $145.6 million as of December 31, 2018 and 2017 , respectively. This excess basis relates to property, plant and equipment and right to mine assets. The excess basis difference that relates to property, plant and equipment is being amortized into income using the straight-line method over 28 years. The excess basis difference that relates to right to mine assets is being amortized into income using the units of production method. The following table represents summarized financial information for Ciner Wyoming as derived from the respective financial statements for the years ended December 31, 2018 , 2017 , and 2016 : For the Year Ended December 31, (In thousands) 2018 2017 2016 Sales $ 486,759 $ 497,340 $ 475,187 Gross profit 104,053 114,202 114,232 Net income 108,357 91,523 91,596 The financial position of Ciner Wyoming is summarized as follows: December 31, (In thousands) 2018 2017 Current assets $ 138,080 $ 180,433 Noncurrent assets 252,743 228,002 Current liabilities 64,012 56,219 Noncurrent liabilities 109,921 148,401 |
Plant and Equipment, Net
Plant and Equipment, Net | 12 Months Ended |
Dec. 31, 2018 | |
Property, Plant and Equipment [Abstract] | |
Plant and Equipment | Plant and Equipment, Net The Partnership’s plant and equipment consist of the following: December 31, (In thousands) 2018 2017 Plant and equipment at cost $ 6,865 $ 6,865 Less: accumulated depreciation (5,881 ) (5,517 ) Total plant and equipment, net $ 984 $ 1,348 Depreciation expense included in Depreciation, depletion and amortization on the Partnership's Consolidated Statements of Comprehensive Income totaled $0.4 million , $0.4 million and $0.8 million for the year ended December 31, 2018 , 2017 and 2016 , respectively. Impairment expense related to the Partnership's plant and equipment included in Asset impairments on the Consolidated Statements of Comprehensive Income totaled $2.0 million for the year ended December 31, 2016 . |
Mineral Rights, Net
Mineral Rights, Net | 12 Months Ended |
Dec. 31, 2018 | |
Extractive Industries [Abstract] | |
Mineral Rights | Mineral Rights, Net The Partnership’s mineral rights consist of the following: December 31, 2018 (In thousands) Carrying Value Accumulated Depletion Net Book Value Coal properties $ 1,164,845 $ (451,210 ) $ 713,635 Aggregates properties 24,920 (11,814 ) 13,106 Oil and gas royalty properties 12,395 (7,632 ) 4,763 Other 13,158 (1,550 ) 11,608 Total mineral rights, net $ 1,215,318 $ (472,206 ) $ 743,112 December 31, 2017 (In thousands) Carrying Value Accumulated Depletion Net Book Value Coal properties $ 1,170,104 $ (436,964 ) $ 733,140 Aggregates properties 37,942 (9,602 ) 28,340 Oil and gas royalty properties 12,395 (7,158 ) 5,237 Other 13,168 (1,466 ) 11,702 Total mineral rights, net $ 1,233,609 $ (455,190 ) $ 778,419 Depletion expense related to the Partnership’s mineral rights is included in Depreciation, depletion and amortization on the Partnership's Consolidated Statements of Comprehensive Income and totaled $17.0 million , $20.1 million and $27.8 million for the year ended December 31, 2018 , 2017 and 2016 , respectively. Sales of Mineral Rights During the year ended December 31, 2018, the Partnership sold mineral reserves in its Coal Royalty and Other segment in multiple transactions for cumulative gross proceeds of $2.4 million and recorded a cumulative gain of $2.4 million included in Gain on asset sales, net on its Consolidated Statement of Comprehensive Income. During the year ended December 31, 2017, the Partnership sold mineral reserves in its Coal Royalty and Other segment in multiple transactions for cumulative gross proceeds of $1.0 million and recorded a cumulative gain of $3.5 million included in Gain on asset sales, net on its Consolidated Statement of Comprehensive Income. During the year ended December 31, 2016, the Partnership sold the following assets: 1) Oil and gas royalty and overriding royalty interests in the Coal Royalty and Other segment in several producing properties located in the Appalachian Basin for $36.4 million gross sales proceeds. The effective date of the sale was January 1, 2016, and the Partnership recorded an $18.6 million gain from this sale included in Gain on asset sales, net on its Consolidated Statement of Comprehensive Income. 2) Aggregates reserves and related royalty rights in the Coal Royalty and Other segment at three aggregates operations located in Texas, Georgia and Tennessee for $10.0 million gross sales proceeds. The effective date of the sale was February 1, 2016, and the Partnership recorded a $1.5 million gain from this sale included in Gain on asset sales, net on its Consolidated Statement of Comprehensive Income. In addition to the two asset sales described above, during the year ended December 31, 2016, the Partnership sold mineral reserves within its Coal Royalty and Other segment in multiple sale transactions for $17.3 million of cumulative gross sales proceeds and recorded a cumulative gain of $8.6 million from these sale transactions that are included in Gain on asset sales, net on its Consolidated Statement of Comprehensive Income. These amounts primarily relate to eminent domain transactions with governmental agencies and the sale of additional oil and gas royalty interests. Impairment of Mineral Rights During the years ended December 31, 2018 , 2017 and 2016 , the Partnership identified facts and circumstances that indicated that the carrying value of certain of its mineral rights exceed future cash flows from those assets and recorded non-cash impairment expense included in Asset impairments on the Consolidated Statements of Comprehensive Income as follows: For the Years Ended December 31, (In thousands) 2018 2017 2016 Coal properties (1) $ 5,259 $ 595 $ 12,088 Oil and gas properties — — 36 Aggregates and timber royalty properties (2) 13,021 2,372 1,677 Total $ 18,280 $ 2,967 $ 13,801 (1) The Partnership recorded $5.3 million of coal property impairments during the year ended December 31, 2018 primarily as a result of lease terminations, of which it recorded $5.0 million of impairment expense to fully impair certain coal properties during the three months ended December 31, 2018. The Partnership recorded $0.6 million of coal property impairments during the year ended December 31, 2017. The Partnership recorded $12.1 million of coal property impairments during the year ended December 31, 2016 primarily as a result of lease surrender and termination. The Partnership recorded $3.8 million of coal property impairment during the three months ended September 30, 2016 and the fair value of the impaired asset was reduced to $4.0 million at September 30, 2016. The Partnership recorded $8.2 million of impairment expense to fully impair certain coal property impairment during the three months ended December 31, 2016. (2) During the three months ended December 31, 2018, the Partnership recorded $13.0 million of impairment expense related to an aggregates property that the Partnership owns and leases to its former construction aggregates business, which mines, produces and sells the aggregates. The fair value of the impaired asset was reduced to $2.3 million at December 31, 2018. The Partnership recorded $2.4 million and $1.7 million of aggregates and timber royalty properties impairments during the year ended December 31, 2017 and 2016, respectively. |
Intangible Assets, Net
Intangible Assets, Net | 12 Months Ended |
Dec. 31, 2018 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets (Including Affiliate) | The Partnership's intangible assets consist of above-market coal and related transportation contracts with subsidiaries of Foresight Energy in which the Partnership receives throughput fees for the handling and transportation of coal. The Partnership's intangible assets included on its Consolidated Balance Sheets are as follows: December 31, (In thousands) 2018 2017 Intangible assets $ 81,109 $ 81,109 Less: accumulated amortization (38,596 ) (34,289 ) Total intangible assets, net $ 42,513 $ 46,820 Amortization expense included in Depreciation, depletion and amortization on the Partnership's Consolidated Statements of Comprehensive Income was $4.3 million and $2.0 million for the years ended December 31, 2018 and 2017 , respectively. Amortization expense included in Amortization expense—affiliates on the Partnership's Consolidated statements of Comprehensive income was $1.0 million and $3.2 million for the years ended December 31, 2017 and 2016 , respectively. As of May 9, 2017, Foresight Energy was no longer deemed to be an affiliate of the Partnership. Refer to Note 15. Related Party Transactions for additional details. The estimates of amortization expense for the years ended December 31, as indicated below, are based on current mining plans and are subject to revision as those plans change in future periods. (In thousands) Estimated Amortization Expense 2019 $ 3,251 2020 3,741 2021 3,660 2022 3,636 2023 3,602 The weighted average remaining amortization period for contract intangibles was 16 years . |
Debt, Net
Debt, Net | 12 Months Ended |
Dec. 31, 2018 | |
Debt Disclosure [Abstract] | |
Debt | Debt, Net The Partnership's debt consists of the following: December 31, (In thousands) 2018 2017 NRP LP debt: 10.500% senior notes, with semi-annual interest payments in March and September, due March 2022, $241 million issued at par and $105 million issued at 98.75% $ 345,638 $ 345,638 Opco debt: Revolving credit facility — 60,000 Senior notes 4.91% with semi-annual interest payments in June and December, with annual principal payments in June, due June 2018 — 4,586 8.38% with semi-annual interest payments in March and September, with annual principal payments in March, due March 2019 21,319 42,670 5.05% with semi-annual interest payments in January and July, with annual principal payments in July, due July 2020 15,290 22,946 5.55% with semi-annual interest payments in June and December, with annual principal payments in June, due June 2023 13,414 16,115 4.73% with semi-annual interest payments in June and December, with annual principal payments in December, due December 2023 37,195 44,693 5.82% with semi-annual interest payments in March and September, with annual principal payments in March, due March 2024 89,529 104,520 8.92% with semi-annual interest payments in March and September, with annual principal payments in March, due March 2024 27,185 31,733 5.03% with semi-annual interest payments in June and December, with annual principal payments in December, due December 2026 107,013 120,547 5.18% with semi-annual interest payments in June and December, with annual principal payments in December, due December 2026 30,555 34,396 Total debt at face value $ 687,138 $ 827,844 Net unamortized debt discount (1,266 ) (1,661 ) Net unamortized debt issuance costs (13,114 ) (16,835 ) Total debt, net $ 672,758 $ 809,348 Less: current portion of long-term debt 115,184 79,740 Total long-term debt, net $ 557,574 $ 729,608 NRP LP Debt 2022 Senior Notes In March 2017, NRP and NRP Finance issued $346 million aggregate principal amount of 2022 Senior Notes to several holders of their 2018 Senior Notes. Of the $346 million of 2022 Senior Notes issued, $241 million in aggregate principal amount were issued in exchange for $241 million in aggregate principal amount of 2018 Senior Notes, and $105 million of the 2022 Senior Notes were issued to the holders for cash. The 2022 Senior Notes are issued under an Indenture dated as of March 2, 2017 (the "Indenture"), bear interest at 10.500% per year, are payable semi-annually on March 15 and September 15, beginning September 15, 2017, and mature on March 15, 2022. The $105.0 million in 2022 Senior Notes purchased for cash were issued at a price of 98.75% (original issue discount of 1.25% ), and each holder exchanging 2018 Senior Notes received a fee of 5.813% of the aggregate principal amount of all 2018 Senior Notes tendered for exchange by such holder, as well as all accrued and unpaid interest thereon. The 5.813% fee included a 4.563% call premium on the early repayment of the 2018 Senior Notes and a 1.25% fee on the exchange of the 2018 Notes for 2022 Senior Notes. This fee is accounted for as a debt issuance cost, capitalized and shown net of the debt liability on the Partnership's Consolidated Balance Sheets. NRP and NRP Finance have the option to redeem the 2022 Senior Notes, in whole or in part, at any time on or after March 15, 2019, at the redemption prices (expressed as percentages of principal amount) of 105.25% for the 12-month period beginning March 15, 2019, 102.625% for the 12-month period beginning March 15, 2020, and thereafter at 100.000% , together, in each case, with any accrued and unpaid interest to the date of redemption. Furthermore, before March 15, 2019, NRP may on any one or more occasions redeem up to 35% of the aggregate principal amount of the 2022 Senior Notes with the net proceeds of certain public or private equity offerings at a redemption price of 110.500% of the principal amount of 2022 Senior Notes, plus any accrued and unpaid interest, if any, to the date of redemption, if at least 65% of the aggregate principal amount of the 2022 Senior Notes issued under the 2022 Indenture remains outstanding immediately after such redemption and the redemption occurs within 180 days of the closing date of such equity offering. In the event of a change of control, as defined in the 2022 Indenture, the holders of the 2022 Senior Notes may require the Partnership to purchase their 2022 Senior Notes at a purchase price equal to 101% of the principal amount of the 2022 Senior Notes, plus accrued and unpaid interest, if any. The 2022 Indenture contains restrictive covenants that are substantially similar to those contained in the Indenture governing the 2018 Senior Notes, except that the debt incurrence and restricted payments covenants contain additional restrictions. Under the debt incurrence covenant, NRP's non-guarantor restricted subsidiaries will not be permitted to incur additional indebtedness unless their consolidated leverage ratio is less than 3.00 x (measured on a pro forma basis and assuming that the greater of (i) $150.0 million of debt (or, if less, at NRP's election, the amount of total lending commitments under any revolving credit facility) and (ii) the actual amount of debt outstanding is outstanding under any revolving credit facility); provided, however, that such non-guarantor restricted subsidiaries will be permitted to make up to $150 million in borrowings under a revolving credit facility (which amount will be reduced on a dollar-for-dollar basis to the extent NRP has made the election described in clause (i) above). Under the restricted payments covenant, NRP will not be able to increase the quarterly distribution on its common units or elect to pay more than 50% of the distributions required to be made on the Preferred Units in cash, unless, in each case, its consolidated leverage ratio is less than 4.00 x. The 2022 Indenture also contains restrictions on NRP's ability to redeem the Preferred Units. The 2022 Senior Notes are the senior unsecured obligations of NRP and NRP Finance. The 2022 Senior Notes rank equal in right of payment to all existing and future senior unsecured debt of NRP and NRP Finance and senior in right of payment to any of NRP's subordinated debt. The 2022 Senior Notes are effectively subordinated in right of payment to all future secured debt of NRP and NRP Finance to the extent of the value of the collateral securing such indebtedness and are structurally subordinated in right of payment to all existing and future debt and other liabilities of our subsidiaries, including the Opco Credit Facility and each series of Opco’s existing Senior Notes, as defined below. None of NRP's subsidiaries guarantee the 2022 Senior Notes. As of December 31, 2018 and December 31, 2017 , NRP and NRP Finance were in compliance with the terms of their debt agreements. Opco Debt All of Opco’s debt is guaranteed by its wholly owned subsidiaries and is secured by certain of the assets of Opco and its wholly owned subsidiaries other than NRP Trona LLC. As of December 31, 2018 and 2017 , Opco was in compliance with the terms of the financial covenants contained in its debt agreements. Opco Credit Facility Opco’s Third Amended and Restated Credit Agreement, as amended (the "Opco Credit Facility"), matures on April 30, 2020. As of December 31, 2018 , Opco had $100 million in available borrowing capacity under the Opco Credit Facility. As discussed in Note 4. Discontinued Operations , in December 2018 the Partnership repaid the outstanding balance of the Opco Credit Facility as a result of the sale of its construction aggregates business. Indebtedness under the Opco Credit Facility bears interest, at Opco's option, at: • the higher of (i) the prime rate as announced by the agent bank; (ii) the federal funds rate plus 0.50% ; or (iii) LIBOR plus 1% , in each case plus an applicable margin ranging from 2.50% to 3.50% ; or • a rate equal to LIBOR plus an applicable margin ranging from 3.50% to 4.50% . The weighted average interest rates for the borrowings outstanding under the Opco Credit Facility for the years ended December 31, 2018 and 2017 were 6.23% and 5.32% , respectively. Debt issuance costs related to the OpCo credit facility were $1.7 million and $4.6 million at December 31, 2018 and 2017 , respectively and have been capitalized and included in Other assets on the Partnership's Consolidated Balance Sheets. Opco will incur a commitment fee on the unused portion of the revolving credit facility at a rate of 0.50% per annum. Opco may prepay all amounts outstanding under the Opco Credit Facility at any time without penalty. The Opco Credit Facility contains financial covenants requiring Opco to maintain: • a leverage ratio of consolidated indebtedness to EBITDDA (as defined in the Opco Credit Facility) not to exceed 4.0 x; provided, however, that if NRP increases its quarterly distribution to its common unitholders above $0.45 per common unit, the maximum leverage ratio under the Opco Credit Facility will permanently decrease from 4.0 x to 3.0 x; and • a fixed charge coverage ratio of consolidated EBITDDA to consolidated fixed charges (consisting of consolidated interest expense and consolidated lease expense) of not less than 3.5 to 1.0. The Opco Credit Facility contains certain additional customary negative covenants that, among other items, restrict Opco’s ability to incur additional debt, grant liens on its assets, make investments, sell assets and engage in business combinations. Included in the investment covenant are restrictions upon Opco’s ability to acquire assets where Opco does not maintain certain levels of liquidity. In addition, Opco is required to use 75% of the net cash proceeds of certain non-ordinary course asset sales to repay the Opco Credit Facility (without any corresponding commitment reduction) and use the remaining 25% of the net cash proceeds to offer to repay its Senior Notes on a pro-rata basis, as described below under “—Opco Senior Notes.” The Opco Credit Facility also contains customary events of default, including cross-defaults under Opco’s Senior Notes. The Opco Credit Facility is collateralized and secured by liens on certain of Opco’s assets with carrying values of $548.9 million and $553.9 million classified as Plant and equipment and Mineral rights as of December 31, 2018 and 2017 , respectively, and $95.7 million included in Long-term assets of discontinued operations on the Partnership’s Consolidated Balance Sheets as of December 31, 2017. The collateral includes (1) the equity interests in all of Opco’s wholly owned subsidiaries, other than NRP Trona LLC (which owns a 49% non-controlling equity interest in Ciner Wyoming), (2) the personal property and fixtures owned by Opco’s wholly owned subsidiaries, other than NRP Trona LLC, (3) Opco’s material coal royalty revenue producing properties, and (4) certain of Opco’s coal-related infrastructure assets. Opco Senior Notes Opco has issued several series of private placement senior notes (the "Opco Senior Notes") with various interest rates and principal due dates. As of December 31, 2018 and 2017 , the Opco Senior Notes had cumulative principal balances of $341.5 million and $422.2 million , respectively. Opco made mandatory principal payments on the Opco Senior Notes of $80.7 million , $80.8 million and $82.9 million for the years ended December 31, 2018 , 2017 and 2016 , respectively. As discussed in Note 4. Discontinued Operations , as a result of the sale of the Partnership's construction aggregates business, $49 million was offered to the holders of the Opco Senior Notes and paid during the first quarter of 2019. The remaining $55 million of net cash proceeds from the sale of the construction aggregates business is restricted and the Partnership intends to use these remaining proceeds to repay its Opco Senior Notes as they amortize in 2019. The Note Purchase Agreements relating to the Opco Senior Notes contain covenants requiring Opco to: • maintain a ratio of consolidated indebtedness to consolidated EBITDDA (as defined in the note purchase agreement) of no more than 4.0 to 1.0 for the four most recent quarters; • not permit debt secured by certain liens and debt of subsidiaries to exceed 10% of consolidated net tangible assets (as defined in the note purchase agreement); and • maintain the ratio of consolidated EBITDDA (as defined in the note purchase agreement) to consolidated fixed charges (consisting of consolidated interest expense and consolidated operating lease expense) at not less than 3.5 to 1.0. In addition, the Note Purchase Agreements include a covenant that provides that, in the event NRP Operating or any of its subsidiaries is subject to any additional or more restrictive covenants under the agreements governing its material indebtedness (including the Opco Credit Facility and all renewals, amendments or restatements thereof), such covenants shall be deemed to be incorporated by reference in the Note Purchase Agreements and the holders of the Notes shall receive the benefit of such additional or more restrictive covenants to the same extent as the lenders under such material indebtedness agreement. The 8.38% and 8.92% Opco Senior Notes also provide that in the event that Opco’s leverage ratio of consolidated indebtedness to consolidated EBITDDA (as defined in the Note Purchase Agreements) exceeds 3.75 to 1.00 at the end of any fiscal quarter, then in addition to all other interest accruing on these notes, additional interest in the amount of 2.00% per annum shall accrue on the notes for the two succeeding quarters and for as long thereafter as the leverage ratio remains above 3.75 to 1.00. Opco has not exceeded the 3.75 to 1.00 ratio at the end of any fiscal quarter through December 31, 2018 . In September 2016, Opco amended the Opco Senior Notes. Under this amendment, Opco agreed to use certain asset sale proceeds to make mandatory prepayment offers on the Opco Senior Notes as follows: • until the earlier of the time that (1) Opco has sold $300 million of assets and (2) June 30, 2020, Opco will be required to make prepayment offers to the holders of the Opco Senior Notes using 25% of the net cash proceeds from certain asset sales; and • after the earlier to occur of the dates above, Opco will be required to make prepayment offers to the holders of the Opco Senior Notes using an amount of net cash proceeds from certain asset sales that will be calculated pro-rata based on the amount of Opco Senior Notes then outstanding compared to the other total Opco senior debt outstanding that is being prepaid. The mandatory prepayment offers described above will be made pro-rata across each series of outstanding Opco Senior Notes and will not require any make-whole payment by Opco. In addition, the remaining principal and interest payments on the Opco Senior Notes will be adjusted accordingly based on the amount of Opco Senior Notes actually prepaid. The prepayments do not affect the maturity dates of any series of the Opco Senior Notes. Consolidated Principal Payments The consolidated principal payments due are set forth below: NRP LP Opco (In thousands) Senior Notes (1) Senior Notes Credit Facility Total 2019 $ — $ 116,125 $ — $ 116,125 2020 — 46,436 — 46,436 2021 — 39,634 — 39,634 2022 345,638 39,634 — 385,272 2023 — 39,634 — 39,634 Thereafter — 60,037 — 60,037 $ 345,638 $ 341,500 $ — $ 687,138 (1) The 10.500% senior notes due 2022 were issued at a discount and were carried at $344.4 million and $344.0 million as of December 31, 2018 and 2017 , respectively. |
Fair Value Measurements
Fair Value Measurements | 12 Months Ended |
Dec. 31, 2018 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Fair Value Measurements Fair Value of Financial Assets and Liabilities The Partnership’s financial assets and liabilities consist of cash and cash equivalents, restricted cash, contracts receivable, debt, Preferred Units and Warrants. The carrying amounts reported on the Consolidated Balance Sheets for cash and cash equivalents and restricted cash approximate fair value due to their short-term nature. There were no transfers between Level 1, Level 2 or Level 3 of the fair value hierarchy during the years ended December 31, 2018 or 2017 . The Partnership uses available market data and valuation methodologies to estimate the fair value of debt. The fair value of debt is the estimated amount the Partnership would have to pay a third party to assume the debt, including a credit spread for the difference between the issue rate and the period end market rate. The credit spread is the Partnership's default or repayment risk. The following table shows the carrying amount and estimated fair value of the Partnership's debt and contracts receivable: December 31, 2018 December 31, 2017 (In thousands) Carrying Value Estimated Carrying Estimated Debt: NRP 2022 Senior Notes (1) $ 334,024 $ 356,871 $ 330,404 $ 366,376 Opco Senior Notes (2) 338,734 352,599 418,944 447,538 Opco Revolving Credit Facility (3) — — 60,000 60,000 Assets: Contracts receivable, current and long-term (4) $ 40,776 $ 34,704 $ 43,826 $ 30,517 (1) The Level 1 fair value is based upon quotations obtained for identical instruments on the closing trading prices near period end. (2) Due to no observable quoted prices on these instruments, the Level 3 fair value is estimated by management using quotations obtained for the NRP Senior Notes on the closing trading prices near period end. (3) The Level 3 fair value approximates the outstanding borrowing amount because the interest rates are variable and reflective of market rates and the terms of the credit facility allow the Partnership to repay this debt at any time without penalty. (4) The Level 3 fair value is determined based on the present value of future cash flow projections related to the underlying assets. NRP has embedded derivatives in the Preferred Units related to certain conversion options, redemption features and the change of control provision that are accounted for separately from the Preferred Units as assets and liabilities at fair value on the Partnership's Consolidated Balance Sheets. Level 3 valuation of the embedded derivatives are based on numerous factors including the likelihood of the event occurring. The embedded derivatives are revalued quarterly, and changes in their fair value would be recorded in Other expense, net in the Partnership's Consolidated Statements of Comprehensive Income. The embedded derivatives had zero value as of December 31, 2018 and 2017 . Fair Value of Non-Financial Assets The Partnership discloses or recognizes its non-financial assets, such as impairments of coal and aggregates properties and other assets, at fair value on a nonrecurring basis. Refer to Note 10. Plant and Equipment, Net and Note 11. Mineral Rights, Net for additional disclosures related to the fair value associated with the impaired assets. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2018 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | Related Party Transactions Cline Affiliates and Foresight Energy Mr. Chris Cline, both individually and through another affiliate, Adena Minerals, LLC ("Adena"), owned a 31% interest in NRP (GP) LP, NRP's general partner ("NRP GP"), through May 9, 2017. On May 9, 2017, Adena sold its 31% limited partner interest in NRP GP to Great Northern Properties Limited Partnership (“GNPLP”) and Western Pocahontas Properties Limited Partnership ("WPPLP") (the “Adena Sale”). GNPLP and WPPLP are companies controlled by Corbin J. Robertson, the Chairman and Chief Executive Officer of GP Natural Resource Partners LLC (the general partner of NRP GP) (“GP LLC”). Upon closing of this transaction, NRP no longer considers the various companies affiliated with Chris Cline, including Foresight Energy to be affiliates of NRP. As a result, all transactions (including revenues, expenses and cash flows) after May 9, 2017 with the various companies affiliated with Chris Cline, including Foresight Energy, are considered to be third party transactions. Revenues and expenses related to transactions with Foresight Energy are included in the Partnership's Consolidated Statements of Comprehensive Income as follows: For the Years Ended December 31, (In thousands) 2018 2017 2016 Revenues: Coal royalty and other $ 30,777 $ 28,763 $ — Coal royalty and other — affiliates — 21,204 44,019 Transportation and processing services 23,818 14,510 — Transportation and processing services—affiliate — 6,012 19,336 Total $ 54,595 $ 70,489 $ 63,355 Expenses: Operating and maintenance expense $ 1,761 $ 1,066 $ — Operating and maintenance expense—affiliates — 452 1,347 Total $ 1,761 $ 1,518 $ 1,347 Coal Royalty and Other Revenues Various subsidiaries of Foresight Energy lease coal reserves from the Partnership. In addition, NRP owns a contractual overriding royalty interest at Foresight Energy's Sugar Camp mine in the Illinois Basin which provides for payments based upon production from specific tons at Foresight Energy's Sugar Camp operations on certain reserves owned by another affiliate of Chris Cline. This overriding royalty is accounted for as a financing arrangement. Revenues related to these transactions are included in Coal royalty and other revenues in the Partnership's Consolidated Statements of Comprehensive Income. Transportation and Processing Services Revenues and Expenses The Partnership owns transportation and processing infrastructure related to certain of its coal properties, including loadout and other transportation assets at Foresight Energy's Williamson and Macoupin mines in the Illinois Basin, for which it collects throughput fees. These fees are included in Transportation and processing services revenues in the Partnership's Consolidated Statements of Comprehensive Income. NRP is responsible for operating and maintaining the rail loadout transportation assets at the Williamson mine and subcontracts the operating responsibilities to a subsidiary of Foresight Energy. Expenses related to these operations are included in Operating and maintenance expenses in the Partnership's Consolidated Statements of Comprehensive Income. In addition, NRP owns rail loadout and associated infrastructure at the Sugar Camp mine, an Illinois Basin mine also operated by a subsidiary of Foresight Energy LP. While the Partnership owns coal reserves at the Williamson and Macoupin mines, it does not own coal reserves at the Sugar Camp mine. The infrastructure at the Sugar Camp mine is leased to a subsidiary of Foresight Energy and NRP collects throughput fees, which are included in Transportation and processing services revenues in the Partnership's Consolidated Statements of Comprehensive Income. NRP's Sugar Camp rail loadout lease with a subsidiary of Foresight Energy is accounted for as a financing lease. Minimum lease payments are $5.0 million per year for the next five years and represent a $1.25 million per quarter deficiency payment. The following table shows certain amounts related to NRP's Sugar Camp rail loadout facility financing lease: December 31, (In thousands) 2018 2017 Projected remaining payments $ 66,495 $ 71,452 Unearned income 25,058 28,366 Reimbursements to Affiliates of our General Partner The Partnership’s general partner does not receive any management fee or other compensation for its management of NRP. However, in accordance with the partnership agreement, the general partner and its affiliates are reimbursed for services provided to the Partnership and for expenses incurred on the Partnership’s behalf. Employees of Quintana Minerals Corporation ("QMC") and WPPLP, affiliates of the Partnership, provide their services to manage the Partnership's business. QMC and WPPLP charge the Partnership the portion of their employee salary and benefits costs related to their employee services provided to NRP. These QMC and WPPLP employee management service costs are presented as Operating and maintenance expenses—affiliates and General and administrative—affiliates on the Partnership's Consolidated Statements of Comprehensive Income. NRP also reimburses overhead costs incurred by its affiliates to manage the Partnership's business. These overhead costs include certain rent, legal, accounting, treasury, information technology, insurance, administration of employee benefits and other corporate services incurred by or on behalf of the Partnership’s general partner and its affiliates and are presented as Operating and maintenance expenses—affiliates and General and administrative—affiliates on the Partnership's Consolidated Statements of Comprehensive Income. Direct general and administrative expenses charged to the Partnership by QMC and WPPLP are included in the Partnership's Consolidated Statement of Comprehensive Income as follows: For the Years Ended December 31, (In thousands) 2018 2017 2016 Operating and maintenance expenses—affiliates $ 6,170 $ 6,184 $ 8,119 General and administrative—affiliates 3,658 4,989 3,591 During the years ended December 31, 2018 , 2017 and 2016 , the Partnership recognized $5.4 million , $1.5 million and $0.7 million in Operating and maintenance expenses—affiliates, respectively, on its Consolidated Statements of Comprehensive Income related to a non-participating production royalty payable to WPPLP pursuant to a conveyance agreement entered into in 2007 in which coal royalty revenues received from a third party by NRP are passed back to WPPLP. Included in Income from discontinued operations on the Partnership's Consolidated Statements of Income are $1.0 million , $1.4 million and $3.1 million of Operating and maintenance expenses charged by QMC for the years ended December 31, 2018 , 2017 and 2016 , respectively. At December 31, 2017 , the Partnership had Other assets—affiliate from WPPLP on its Consolidated Balance Sheets related to a non-production royalty receivable from WPPLP for overriding royalty interest of $0.2 million . The Partnership had Accounts payable—affiliates on its Consolidated Balance Sheets to QMC of $0.5 million and WPPLP of $1.4 million as of December 31, 2018 and to QMC of $0.4 million and WPPLP of $0.1 million as of December 31, 2017 . Included in Liabilities from discontinued operations on the Partnerships Consolidated Balance Sheets is $0.1 million in Accounts payable, affiliates, due to QMC as of December 31, 2018 and 2017 , respectively. Quintana Capital Group GP, Ltd. Corbin J. Robertson, Jr. is a principal in Quintana Capital Group GP, Ltd. ("Quintana Capital"), which controls several private equity funds focused on investments in the energy business. In connection with the formation of Quintana Capital, the Partnership adopted a formal conflicts policy that establishes the opportunities that will be pursued by the Partnership and those that will be pursued by Quintana Capital. The governance documents of Quintana Capital’s affiliated investment funds reflect the guidelines set forth in the Partnership's conflicts policy. At December 31, 2018 , a fund controlled by Quintana Capital owned a substantial interest in Corsa Coal Corp. ("Corsa"), a coal mining company traded on the TSX Venture Exchange that is one of the Partnership’s lessees in Tennessee. During the second quarter of 2018, Corsa assigned its lease with NRP to a third party and is no longer deemed a related party. Coal related revenues from Corsa totaled $0.5 million , $1.3 million and $2.2 million for the years ended December 31, 2018 , 2017 and 2016 . At December 31, 2017 , the Partnership had Accounts receivable—affiliates totaling $0.2 million from Corsa on its Consolidated Balance Sheet. Quinwood Coal Company Royalty In May 2017, a subsidiary of Alpha Natural Resources assigned two coal leases with us to Quinwood Coal Company ("Quinwood"), an entity wholly owned by Corbin J. Robertson III. In connection with this lease assignment, Quinwood forfeited the historical recoupable balance related to this property. As a result, NRP recognized $0.9 million of deferred minimum payments received in prior periods from a subsidiary of Alpha as Coal royalty and other—affiliates revenue on its Consolidated Statements of Comprehensive Income during the year ended December 31, 2017 . |
Major Customers
Major Customers | 12 Months Ended |
Dec. 31, 2018 | |
Risks and Uncertainties [Abstract] | |
Major Customers | Major Customers Revenues from customers that exceeded 10 percent of total revenues for any of the periods presented below are as follows: For the Years Ended December 31, 2018 2017 2016 (In thousands) Revenues Percent Revenues Percent Revenues Percent Foresight Energy $ 54,595 21.7 % $ 70,489 29.0 % $ 63,355 25.3 % Revenues from Foresight Energy are included within the Partnership's Coal Royalty and Other segment. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies Legal NRP is involved, from time to time, in various legal proceedings arising in the ordinary course of business. While the ultimate results of these proceedings cannot be predicted with certainty, Partnership management believes these claims will not have a material effect on the Partnership’s financial position, liquidity or operations. During the year ended 2018, NRP was also involved in the matters described below. Anadarko Contingent Consideration Payment Dispute In January 2013, NRP acquired a non-controlling 48.51% general partner interest in OCI Wyoming, L.P. ("OCI LP") and all of the preferred stock and a portion of the common stock of OCI Wyoming Co. ("OCI Co") (which in turn owned a 1% limited partner interest in OCI LP) from Anadarko Holding Company and its subsidiary, Big Island Trona Company (together, "Anadarko"). The remaining general partner interest in OCI LP and common stock of OCI Co were owned by subsidiaries of OCI Chemical Corporation. The acquisition agreement provided for additional contingent consideration of up to $50 million to be paid by NRP if certain performance criteria were met at OCI LP as defined in the purchase and sale agreement in any of the years 2013, 2014 or 2015. For those years, NRP paid an aggregate of $11.5 million to Anadarko in full satisfaction of these contingent consideration payment obligations. In July 2013, pursuant to a series of transactions in connection with an initial public offering by a subsidiary of OCI Chemical Corporation, the ownership structure in OCI LP was simplified. In connection with such reorganization, NRP exchanged the stock of OCI Co for a limited partner interest in OCI LP. Following the reorganization, NRP's interest in OCI LP increased to 49% , consisting of both limited and general partner interests. The restructuring did not have any impact on the operations, revenues, management or control of OCI LP. In July 2017, Anadarko filed a lawsuit against Opco and NRP Trona LLC in the District Court of Harris County, Texas, 157th Judicial District. The complaint alleged that the transactions conducted in 2013 triggered an acceleration of NRP's obligation under the purchase agreement with Anadarko to pay additional contingent consideration in full and demanded immediate payment of such amount, together with interest, court costs and attorneys’ fees. NRP does not believe the reorganization transactions triggered an obligation to pay any additional contingent consideration and is vigorously defending this lawsuit. However, the ultimate outcome cannot be predicted with certainty and the Partnership estimates a possible range of loss between $0 , if it prevails, and approximately $40 million , plus interest, court costs and attorneys’ fees if Anadarko prevails and is awarded the full damages it seeks. Foresight Energy Settlement In October 2018, NRP's lawsuits against Foresight Energy and its subsidiaries Hillsboro Energy and Macoupin Energy were settled. The Hillsboro suit was pending in the Circuit Court of the Fourth Judicial Circuit in Montgomery County, Illinois, and the Macoupin suit was pending in Macoupin County, Illinois. NRP received a payment of $25 million from Foresight Energy in full settlement of the Hillsboro litigation, which was recognized immediately as Gain on litigation settlement in the Consolidated Statement of Comprehensive Income. In addition, NRP and Hillsboro Energy amended the coal mining lease with respect to the Deer Run mine to change the $30 million recoupable annual minimum royalty payments to $11 million non-recoupable annual minimum payments effective January 1, 2019 and extended the current lease term through the end of 2033. Furthermore, Foresight Energy forfeited its recoupable balances under the Macoupin and Hillsboro leases totaling approximately $37.4 million , the majority of which NRP previously recognized in Cumulative effect of adoption of accounting standard in Partners' capital on its Consolidated Balance Sheet on January 1, 2018. All claims were dismissed in both the Hillsboro and Macoupin lawsuits. Environmental Compliance The operations the Partnership’s lessees conduct on its properties, as well as the aggregates/industrial minerals and oil and gas operations in which the Partnership has interests, are subject to federal and state environmental laws and regulations. See " Items 1. and 2. Business and Properties—Regulation and Environmental Matters ." As an owner of surface interests in some properties, the Partnership may be liable for certain environmental conditions occurring on the surface properties. The terms of substantially all of the Partnership’s coal leases require the lessee to comply with all applicable laws and regulations, including environmental laws and regulations. Lessees post reclamation bonds assuring that reclamation will be completed as required by the relevant permit, and substantially all of the leases require the lessee to indemnify the Partnership against, among other things, environmental liabilities. Some of these indemnifications survive the termination of the lease. The Partnership makes regular visits to the mines to ensure compliance with lease terms, but the duty to comply with all regulations rests with the lessees. The Partnership believes that its lessees will be able to comply with existing regulations and does not expect that any lessee’s failure to comply with environmental laws and regulations to have a material impact on the Partnership’s financial condition or results of operations. The Partnership has neither incurred, nor is aware of, any material environmental charges imposed on the Partnership related to its properties for the period ended December 31, 2018. The Partnership is not associated with any material environmental contamination that may require remediation costs. However, the Partnership’s lessees do conduct reclamation work on the properties under lease to them. Because the Partnership is not the permittee of the mines being reclaimed, the Partnership is not responsible for the costs associated with these reclamation operations. As a former owner of the working interests in oil and natural gas operations, the Partnership is responsible for its proportionate share of any losses and liabilities, including environmental liabilities, arising from uninsured and underinsured events during the period it was an owner. |
Unit-Based Compensation
Unit-Based Compensation | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Unit-Based Compensation | Unit-Based Compensation 2017 Long-Term Incentive Plan In December 2017, the 2017 Long-Term Incentive Plan (the “2017 LTIP”) was approved and it became effective in January 2018. The 2017 LTIP authorizes 800,000 common units that are available for delivery by the Partnership pursuant to awards under the plan. The term is 10 years from the date of Board approval or, if earlier, the date the 2017 LTIP is terminated by the Board or the committee appointed by the Board to administer the 2017 LTIP, or the date all available common units available have been delivered. Common units delivered pursuant to the 2017 LTIP will consist, in whole or part, of (i) common units acquired in the open market, (ii) common units acquired from the Partnership (including newly issued units), any of our affiliates or any other person or (iii) any combination of the foregoing. Employees, consultants and non-employee directors of the Partnership, the General Partner, GP LLC and their affiliates are generally eligible to receive awards under the 2017 LTIP. The 2017 LTIP provides for the issuance of a variety of equity-based grants, including grants of (i) options, (ii) unit appreciation rights, (iii) restricted units, (iv) phantom units, (v) cash awards, (vi) performance awards, (vii) distribution equivalent rights, and (viii) other unit-based awards. The plan is administered by the Compensation, Nominating and Governance Committee of the Board, which determines the terms and conditions of awards granted under the 2017 LTIP. The Partnership recognizes forfeitures for any awards issued under this plan as they occur. Unit-Based Awards Unit-based awards under the 2017 LTIP are generally issued to certain employees and non-employee directors of the Partnership. Awards granted to employees vest at the end of a 3 year period and awards granted to non-employee directors are immediately vested. Directors are given the option to take immediate issuance of the vested awards or defer such issuance until a later date. Upon deferral of issuance, such units will continue to accumulate DERs until issuance. In connection with the phantom unit awards, the Compensation, Nominating and Governance Committee also granted tandem DERs, which entitle the holders to receive distributions equal to the distributions paid on the Partnership’s common units between the date the units are granted and the vesting date. The DERs are payable in cash upon vesting but may be subject to forfeiture if the grantee ceases employment prior to vesting. A summary of activity in the outstanding grants during 2018 is as follows: (In thousands) Common Units Weighted Average Exercise Price Outstanding grants at January 1, 2018 — — Granted 75 29.16 Fully vested and issued (17 ) 31.24 Forfeitures (2 ) 38.28 Outstanding at December 31, 2018 56 29.10 The awards granted in the first quarter of 2018 were valued using the closing price of NRP's units as of the grant date. The grant date fair value of the 2017 LTIP awards granted during the period was $2.2 million , including awards granted to board members with a grant date fair value of $0.6 million which immediately vested and of which $0.4 million were issued. Total unit-based compensation expense recorded in the year ended December 31, 2018 associated with these awards was $1.0 million and $0.1 million included in General and administrative expense and Operating and maintenance expense, respectively, in the Partnership's Consolidated Statements of Comprehensive Income. The unamortized cost associated with unvested outstanding awards as of December 31, 2018 is $1.2 million , which is to be recognized over a weighted average period of 2.1 years . |
Supplemental Quarterly Informat
Supplemental Quarterly Information (Unaudited) | 12 Months Ended |
Dec. 31, 2018 | |
Quarterly Financial Information Disclosure [Abstract] | |
Supplemental Quarterly Information (Unaudited) | Quarterly Financial Data The following table summarizes quarterly financial data for 2018: (In thousands, except per unit data) First (1) (2) Second (1) (2) Third (1) Fourth (3) (4) (5) Total Revenues (including affiliates) $ 59,478 $ 69,451 $ 58,207 $ 63,935 $ 251,071 Gain on litigation settlement — — — 25,000 25,000 Gain on asset sales, net 651 168 — 1,622 2,441 Asset impairments 242 — — 18,038 18,280 Income from operations 44,236 52,863 43,346 52,093 192,538 Net income from continuing operations 26,286 35,129 25,853 35,092 122,360 Income (loss) from discontinued operations (1,948 ) 2,981 2,688 13,966 17,687 Net income 24,338 38,110 28,541 49,058 140,047 Net income attributable to NRP 24,338 37,241 28,900 49,058 139,537 Net income attributable to common unitholders and general partner 16,838 29,741 21,400 41,558 109,537 Income from continuing operations per common unit Basic $ 1.50 $ 2.14 $ 1.50 $ 2.21 $ 7.35 Diluted 1.16 1.57 1.18 1.69 5.90 Net income per common unit Basic $ 1.35 $ 2.38 $ 1.71 $ 3.33 $ 8.77 Diluted 1.08 1.71 1.30 2.36 6.76 Weighted average number of common units outstanding (basic) 12,238 12,246 12,246 12,247 12,244 Weighted average number of common units outstanding (diluted) 22,125 21,383 21,840 20,394 20,234 (1) As a result of the sale of its construction aggregates business, the Partnership classified the operating results related to this business as discontinued operations in the Consolidated Statements of Comprehensive Income subsequent to the filing of the Third Quarter 2018 Form 10-Q. See below for a reconciliation to the amounts reported in the Third Quarter 2018 Form 10-Q. (2) During the third quarter of 2018 the Partnership identified an error related to its modified retrospective adoption of ASC 606 on January 1, 2018 for certain coal and aggregates royalty leases and revised its financial statements for the first and second quarter of 2018 in its Third Quarter 2018 Form 10-Q. (3) During the fourth quarter of 2018 the Partnership recorded $25 million in other income related to the Hillsboro litigation settlement. See Note 17. Commitments and Contingencies for more information. (4) During the fourth quarter of 2018 the Partnership sold its construction aggregates business for $205 million , before customary purchase price adjustments and transaction expenses, and recorded a gain of $13.1 million included in Income from discontinued operations on the Partnership's Consolidated Statement of Comprehensive Income. See Note 4. Discontinued Operations for more information. (5) During the fourth quarter of 2018 the Partnership recorded $18.0 million in aggregates and coal property impairment. See Note 11. Mineral Rights, Net for more information. The following tables reconcile the previously reported quarterly information to the quarterly financial data disclosed above: (In thousands, except per unit data) As Originally Reported Reclassified to Discontinued Operations Revised First Quarter 2018 Revenues (including affiliates) $ 86,630 $ (27,152 ) $ 59,478 Gain on asset sales, net 660 (9 ) 651 Asset impairments 242 — 242 Income from operations 42,322 1,914 44,236 Net income from continuing operations 24,352 1,934 26,286 Net loss from discontinued operations (14 ) (1,934 ) (1,948 ) Net income 24,338 — 24,338 Net income attributable to NRP 24,338 — 24,338 Net income attributable to common unitholders and general partner 16,838 — 16,838 Income from continuing operations per common unit Basic $ 1.35 $ 0.15 $ 1.50 Diluted 1.08 0.09 1.16 Net income per common unit Basic $ 1.35 $ — $ 1.35 Diluted 1.08 — 1.08 Weighted average number of common units outstanding (basic) 12,238 — 12,238 Weighted average number of common units outstanding (diluted) 22,125 — 22,125 Second Quarter 2018 Revenues (including affiliates) $ 109,860 $ (40,409 ) $ 69,451 Gain on asset sales, net 210 (42 ) 168 Income from operations 55,878 (3,015 ) 52,863 Net income from continuing operations 38,144 (3,015 ) 35,129 Net income (loss) from discontinued operations (34 ) 3,015 2,981 Net income 38,110 — 38,110 Net income attributable to NRP 37,241 — 37,241 Net income attributable to common unitholders and general partner 29,741 — 29,741 Income from continuing operations per common unit Basic $ 2.38 $ (0.24 ) $ 2.14 Diluted 1.71 (0.14 ) 1.57 Net income per common unit Basic $ 2.38 $ — $ 2.38 Diluted 1.71 — 1.71 Weighted average number of common units outstanding (basic) 12,246 — 12,246 Weighted average number of common units outstanding (diluted) 21,383 — 21,383 (In thousands, except per unit data) As Originally Reported Reclassified to Discontinued Operations Revised Third Quarter 2018 Revenues (including affiliates) $ 94,855 $ (36,648 ) $ 58,207 Gain on asset sales, net 163 (163 ) — Income from operations 46,066 (2,720 ) 43,346 Net income from continuing operations 28,565 (2,712 ) 25,853 Net income (loss) from discontinued operations (24 ) 2,712 2,688 Net income 28,541 — 28,541 Net income attributable to NRP 28,900 — 28,900 Net income attributable to common unitholders and general partner 21,400 — 21,400 Income from continuing operations per common unit Basic $ 1.71 $ (0.22 ) $ 1.50 Diluted 1.30 (0.12 ) 1.18 Net income per common unit Basic $ 1.71 $ — $ 1.71 Diluted 1.30 — 1.30 Weighted average number of common units outstanding (basic) 12,246 — 12,246 Weighted average number of common units outstanding (diluted) 21,840 — 21,840 The following table summarizes quarterly financial data for 2017: (In thousands, except per unit data) First (1) (2) Second (1) (3) Third (1) Fourth (1) Total (1) Revenues (including affiliates) $ 61,432 $ 58,015 $ 58,406 $ 64,927 $ 242,780 Gain on asset sales, net 29 3,184 154 178 3,545 Asset impairments 1,778 — — 1,189 2,967 Income from operations 38,124 47,522 43,052 47,861 176,559 Debt modification expense 7,807 132 — — 7,939 Loss on extinguishment of debt — 4,107 — — 4,107 Net income from continuing operations 7,588 23,153 23,079 28,665 82,485 Net income (loss) from discontinued operations (1,684 ) 2,837 2,987 2,042 6,182 Net income 5,904 25,990 26,066 30,707 88,667 Net income attributable to common unitholders and general partner 3,404 18,452 18,416 22,942 63,214 Income from continuing operations per common unit Basic $ 0.41 $ 1.25 $ 1.24 $ 1.67 $ 4.57 Diluted 0.50 1.01 0.94 1.18 3.68 Net income per common unit Basic $ 0.28 $ 1.47 $ 1.48 $ 1.84 $ 5.06 Diluted 0.28 1.13 1.07 1.26 3.96 Weighted average number of common units outstanding (basic) 12,232 12,232 12,232 12,232 12,232 Weighted average number of common units outstanding (diluted) 14,945 22,459 23,980 23,874 21,950 (1) As a result of the sale of its construction aggregates business, the Partnership classified the operating results related to this business as discontinued operations in the Consolidated Statements of Comprehensive Income subsequent to the filing of the 2017 Form 10-K. See below for a reconciliation to the amounts reported in the 2017 Form 10-K. (2) During the first quarter of 2017 the Partnership incurred $7.8 million of debt modification costs as a result of the exchange of $241 million of our 2018 Senior Notes for 2022 Senior Notes. (3) During the second quarter of 2017 the Partnership incurred a $4.1 million loss on extinguishment of debt related to the 4.563% premium paid to redeem the 2018 Senior Notes in April 2017. The following tables reconcile the previously reported quarterly information to the quarterly financial data disclosed above: (In thousands, except per unit data) As Originally Reported Reclassified to Discontinued Operations Revised First Quarter 2017 Revenues (including affiliates) $ 88,653 $ (27,221 ) $ 61,432 Gain on asset sales, net 44 (15 ) 29 Asset impairments 1,778 — 1,778 Income from operations 37,042 1,082 38,124 Debt modification expense 7,807 — 7,807 Net income from continuing operations 6,111 1,477 7,588 Net income (loss) from discontinued operations (207 ) (1,477 ) (1,684 ) Net income 5,904 — 5,904 Net income attributable to common unitholders and general partner 3,404 — 3,404 Income from continuing operations per common unit Basic $ 0.30 $ 0.12 $ 0.41 Diluted 0.30 0.10 0.50 Net income per common unit Basic $ 0.28 $ — $ 0.28 Diluted 0.28 — 0.28 Weighted average number of common units outstanding (basic) 12,232 — 12,232 Weighted average number of common units outstanding (diluted) 14,945 — 14,945 Second Quarter 2017 Revenues (including affiliates) $ 91,570 $ (33,555 ) $ 58,015 Gain on asset sales, net 3,361 (177 ) 3,184 Income from operations 50,404 (2,882 ) 47,522 Debt modification expense 132 — 132 Loss on extinguishment of debt 4,107 — 4,107 Net income from continuing operations 25,857 (2,704 ) 23,153 Net income (loss) from discontinued operations 133 2,704 2,837 Net income 25,990 — 25,990 Net income attributable to common unitholders and general partner 18,452 — 18,452 Income from continuing operations per common unit Basic $ 1.46 $ (0.22 ) $ 1.25 Diluted 1.13 (0.12 ) 1.01 Net income per common unit Basic $ 1.47 $ — $ 1.47 Diluted 1.13 — 1.13 Weighted average number of common units outstanding (basic) 12,232 — 12,232 Weighted average number of common units outstanding (diluted) 22,459 — 22,459 (In thousands, except per unit data) As Originally Reported Reclassified to Discontinued Operations Revised Third Quarter 2017 Revenues (including affiliates) $ 93,116 $ (34,710 ) $ 58,406 Gain on asset sales, net 171 (17 ) 154 Income from operations 46,531 (3,479 ) 43,052 Net income from continuing operations 26,499 (3,420 ) 23,079 Net income (loss) from discontinued operations (433 ) 3,420 2,987 Net income 26,066 — 26,066 Net income attributable to common unitholders and general partner 18,416 — 18,416 Income from continuing operations per common unit Basic $ 1.51 $ (0.27 ) $ 1.24 Diluted 1.08 (0.14 ) 0.94 Net income per common unit Basic $ 1.48 $ — $ 1.48 Diluted 1.07 — 1.07 Weighted average number of common units outstanding (basic) 12,232 — 12,232 Weighted average number of common units outstanding (diluted) 23,980 — 23,980 Fourth Quarter 2017 Revenues (including affiliates) $ 100,822 $ (35,895 ) $ 64,927 Gain on asset sales, net 280 (102 ) 178 Asset impairments 1,253 (64 ) 1,189 Income from operations 49,998 (2,137 ) 47,861 Net income from continuing operations 30,741 (2,076 ) 28,665 Net income (loss) from discontinued operations (34 ) 2,076 2,042 Net income 30,707 — 30,707 Net income attributable to common unitholders and general partner 22,942 — 22,942 Income from continuing operations per common unit Basic $ 1.84 $ (0.17 ) $ 1.67 Diluted 1.26 (0.09 ) 1.18 Net income per common unit Basic $ 1.84 $ — $ 1.84 Diluted 1.26 — 1.26 Weighted average number of common units outstanding (basic) 12,232 — 12,232 Weighted average number of common units outstanding (diluted) 23,874 — 23,874 (In thousands, except per unit data) As Originally Reported Reclassified to Discontinued Operations Revised Total 2017 Revenues (including affiliates) $ 374,161 $ (131,381 ) $ 242,780 Gain on asset sales, net 3,856 (311 ) 3,545 Asset impairments 3,031 (64 ) 2,967 Income from operations 183,975 (7,416 ) 176,559 Debt modification expense 7,939 — 7,939 Loss on extinguishment of debt 4,107 — 4,107 Net income from continuing operations 89,208 (6,723 ) 82,485 Net income (loss) from discontinued operations (541 ) 6,723 6,182 Net income 88,667 — 88,667 Net income attributable to common unitholders and general partner 63,214 — 63,214 Income from continuing operations per common unit — Basic $ 5.11 $ (0.54 ) $ 4.57 Diluted 3.98 (0.30 ) 3.68 Net income per common unit Basic $ 5.06 $ — $ 5.06 Diluted 3.96 — 3.96 Weighted average number of common units outstanding (basic) 12,232 — 12,232 Weighted average number of common units outstanding (diluted) 21,950 — 21,950 |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2018 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The accompanying Consolidated Financial Statements of the Partnership have been prepared in accordance with generally accepted accounting principles in the United States of America ("GAAP"). The consolidated financial statements include the accounts of Natural Resource Partners L.P. and its wholly owned subsidiaries, as well as BRP LLC ("BRP"), a joint venture with International Paper Company controlled by the Partnership. The Partnership has an equity investment in Ciner Wyoming through which it is able to exercise significant influence over but does not control the investee and is not the primary beneficiary of the investee’s activities and is accounted for using the equity method. Intercompany transactions and balances have been eliminated. Certain reclassifications have been made to prior year amounts on the Consolidated Statements of Comprehensive Income and Consolidated Statements of Cash Flows to conform with current year presentation. These reclassifications have no impact on previously reported net income or total cash flows from operating, investing or financing activities. |
Use of Estimates | Use of Estimates Preparation of the accompanying financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities in the accompanying Consolidated Balance Sheets, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses in the accompanying Consolidated Statements of Comprehensive Income during the reporting period. Actual results could differ from those estimates. The most significant estimates pertain to coal and aggregates reserves and related cash flow estimates which are used to compute depreciation, depletion and amortization and impairments of coal and aggregates properties and commitments and contingencies. |
Fair Value | Fair Value The Partnership discloses certain assets and liabilities using fair value as defined by authoritative guidance. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. See Note 14. Fair Value Measurements for further details. There are three levels of inputs that may be used to measure fair value: • Level 1—Quoted prices in active markets for identical assets or liabilities. • Level 2—Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. • Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities include financial assets and liabilities whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation. |
Cash and Cash Equivalents | Cash, Cash Equivalents and Restricted Cash The Partnership considers all highly liquid short-term investments with an original maturity of three months or less to be cash equivalents. Restricted cash at December 31, 2018 included cash proceeds received from the sale of the Partnership's construction aggregates business required to be used to repay debt, make acquisitions or make capital expenditures per the terms of its and Opco's debt agreements, as defined in Note 13. Debt, Net . NRP intends to use these proceeds to repay debt. |
Accounts Receivable | Allowance for Doubtful Accounts The Partnership records an allowance for doubtful accounts for its accounts receivables and notes receivables which it determines to be uncollectible based on the specific identification method. Receivables are written off when collection efforts are exhausted and future recovery is doubtful. |
Plant and Equipment | Plant and Equipment Plant and equipment is recorded at its original cost of construction or, upon acquisition, at fair value of the asset acquired and consists of coal preparation plants, related coal handling facilities, and other coal and aggregates transportation and processing infrastructure. Expenditures for new facilities or that substantially increase the useful life of property are capitalized and reported in the Consolidated Statements of Cash Flows as an investing activity. These assets are depreciated on a straight-line basis over their useful lives generally as follows: Years Buildings and improvements 20 to 40 Machinery and equipment 5 to 12 Leasehold improvements Life of Lease |
Mineral Rights | Mineral Rights Mineral rights owned and leased are recorded at its original cost of construction or, upon acquisition, at fair value of the assets acquired. Coal and aggregates mineral rights are depleted on a unit-of-production basis by lease, based upon minerals mined in relation to the net cost of the mineral properties and estimated proven and probable tonnage therein. |
Intangible Assets | Intangible Assets The Partnership’s intangible assets consist primarily of contracts that at acquisition were more favorable for the Partnership than prevailing market rates, known as above-market contracts. Management expects for the above-market rates to be received until the reserves are exhausted on its above-market contracts, which includes additional renewal terms of the respective leases. The estimated fair values of the above-market rate contracts are determined based on the present value of future cash flow projections related to the underlying assets acquired. Intangible assets are amortized on a unit-of-production basis. |
Asset Impairment | Asset Impairment The Partnership has developed procedures to evaluate its long-lived assets for possible impairment periodically or whenever events or changes in circumstances indicate an asset's carrying amount may not be recoverable. Potential events or circumstances include, but are not limited to, specific events such as a reduction in economically recoverable reserves or production ceasing on a property for an extended period. This analysis is based on historic, current and future performance and considers both quantitative and qualitative information. A long-lived asset is deemed impaired when the future expected undiscounted cash flows from its use and disposition is less than the assets’ carrying value. Impairment is measured based on the estimated fair value, which is usually determined based upon the present value of the projected future cash flow compared to the assets’ carrying value. The Partnership believes its estimates of cash flows and discount rates are consistent with those of principal market participants. The Partnership evaluates its equity investment for impairment when events or changes in circumstances indicate, in management’s judgment, that the carrying value of such investment may have experienced an other-than-temporary decline in value. When evidence of loss in value has occurred, management compares the estimated fair value of the investment to the carrying value of the investment to determine whether potential impairment has occurred. If the estimated fair value is less than the carrying value and management considers the decline in value to be other than temporary, the excess of the carrying value over the estimated fair value is recognized in the financial statements as an impairment loss. The fair value of the impaired investment is based on quoted market prices (Level 1), or upon the present value of expected cash flows using discount rates believed to be consistent with those used by principal market participants (Level 3), plus market analysis of comparable assets owned by the investee, if appropriate. |
Revenue Recognition | Revenue Recognition Coal Royalty and Other Segment Revenues Royalty-based leases. Approximately two-thirds of the Partnership's royalty-based leases have initial terms of five to 40 years, with substantially all lessees having the option to extend the lease for additional terms. For these types of leases, the lessees generally make payments to NRP based on the greater of a percentage of the gross sales price or a fixed price per ton of mineral they mine or sell. Most of NRP’s coal and aggregates royalty leases require the lessee to pay quarterly or annual minimum amounts, either made in advance or arrears, which are generally recoupable through actual royalty production over certain time periods that generally range from three to five years. In accordance with previous accounting standards in effect prior to January 1, 2018, NRP recognized all coal and aggregates royalty revenue over the lease term based on production. The recognition of revenue from minimum payments was deferred until either recoupment through royalty production occurred or when the recoupment period expired for unrecouped minimums. Under the new revenue recognition standard, management has defined NRP's coal and aggregates royalty lease performance obligation as providing the lessee the right to mine and sell NRP's coal or aggregates over the lease term. The Partnership then evaluated the likelihood that consideration NRP expected to receive from its lessees resulting from production would exceed consideration expected to be received from minimum payments over the lease term. As a result of this evaluation, revenue recognition from the Partnership's royalty-based leases is based on either production or minimum payments as follows: • Production Leases : Leases for which the Partnership expects that consideration from production will be greater than consideration from minimums over the lease term. Revenue recognition for these leases is recognized over time based on production as Coal royalty revenue or Aggregates royalty revenue, as applicable. Deferred revenue from minimums is recognized as royalty revenue when recoupment occurs or as Production lease minimum revenue when the recoupment period expires. In addition, NRP recognizes breakage revenue from minimums when NRP determines that recoupment is remote. This breakage revenue is included in Production lease minimum revenue. • Minimum Leases : Leases for which the Partnership expects that consideration from minimums will be greater than consideration from production over the lease term. Revenue recognition for these leases is recognized straight-line over the lease term based on the minimum consideration amount as Minimum lease straight-line revenue. This evaluation is performed at the inception of the lease and only reassessed upon modification or renewal of the lease. Oil and gas related revenues consist of revenues from royalties and overriding royalties and are recognized on the basis of volume of hydrocarbons sold by lessees and the corresponding revenue from those sales. Also, included within oil and gas royalties are lease bonus payments, which are generally paid upon the execution of a lease. The Partnership also has overriding royalty revenue interests in coal reserves. Revenue from these interests is recognized over time based on when the coal is sold. Wheelage. Revenue related to fees collected per ton to transport foreign coal across property owned by the Partnership that is recognized over time as transportation across the property occurs. Other revenue. Other revenue consists primarily of rental payments and surface damage fees related to certain land owned by the Partnership and is recognized straight-line over time as it is earned. Other revenues also include property tax revenues. The majority of property taxes paid on the Partnership's properties are reimbursable by the lessee and are recognized on a gross basis over time which reflects the reimbursement of property taxes by the lessee. Property taxes paid by NRP are included in Operating and maintenance expenses on the Partnership's Consolidated Statements of Comprehensive Income. Transportation and processing services revenue. The Partnership owns transportation and processing infrastructure that is leased to third parties for throughput fees. Revenue is recognized over time based on the coal tons transported over the beltlines or processed through the facilities. Contract modifications Contract modifications that impact goods or services or the transaction price are evaluated in accordance with ASC 606. A majority of the Partnership's contract modifications pertain to its coal and aggregates royalty contracts and include, but are not limited to, extending the lease term, changes to royalty rates, floor prices or minimum consideration, assignment of the contract, forfeiture of recoupment rights or termination due to the exhaustion of merchantable and mineable reserves. Consideration received in conjunction with a modification of an ongoing lease will be deferred and recognized straight-line over the remaining term of the contract. Consideration received to assign a lease to another party and related forfeited minimums will be recognized immediately upon the termination of the contract. Fees from contract modifications are recognized in Lease modification fees within Coal royalty and other revenues on our Consolidated Statements of Comprehensive Income while modifications in royalty rates and minimums will be recognized prospectively in accordance with the above lease classification. In accordance with the transition guidance in paragraph 606-10-65-1, revenues from contracts that were modified before January 1, 2018 were not retrospectively restated for those modifications and instead reflected the aggregate effect of those modifications when identifying the satisfied and unsatisfied performance obligations, determining the transaction price and allocating the transaction price to the satisfied and unsatisfied performance obligation. Contract Assets and Liabilities from Contracts with Customers Contract assets include receivables from contracts with customers and are recorded when the right to consideration becomes unconditional. Receivables are recognized when the minimums are contractually owed, production occurs or minimums accrued for based on the passage of time. Contract liabilities represent minimum consideration received, contractually owed or earned based on the passage of time. The current portion of deferred revenue relates to deferred revenue on minimum leases and lease modification fees that are to be recognized as revenue on a straight-line basis over the next twelve months. The long-term portion of deferred revenue relates to deferred revenue on production leases and lease modification fees that are to be recognized as revenue on a straight-line basis beyond the next twelve months. Due to uncertainty in the amount of deferred revenue that will be recouped and recognized as Coal royalty revenue from its production leases over the next twelve months, the Partnership is unable to estimate the current portion of deferred revenue. See "—Recently Adopted Accounting Standards—Revenue Recognition" below for information regarding the impact of adopting the new revenue recognition standard in January 2018. Equity in Earnings from Ciner Wyoming The Partnership accounts for non-marketable equity investments using the equity method of accounting if the investment gives it the ability to exercise significant influence over, but not control of, an investee. The Partnership's 49% investment in Ciner Wyoming is accounted for using this method. Under the equity method of accounting, investments are stated at initial cost and are adjusted for subsequent additional investments and the proportionate share of earnings or losses and distributions. The basis difference between the investment and the proportional share of investee's net assets is attributed to net tangible assets and is amortized over its estimated useful life. The carrying value in Ciner Wyoming is recognized in Equity in unconsolidated investment in the Partnership's Consolidated Balance Sheets. The Partnership's adjusted share of the earnings or losses of Ciner Wyoming and amortization of the basis difference is recognized in Equity in earnings of Ciner Wyoming in the Consolidated Statements of Comprehensive Income. The Partnership increases its investment for its proportional share of distributions received from Ciner Wyoming. These cash flows are reported utilizing the cumulative earnings approach. Under this approach, distributions received are considered returns on investment and classified as operating cash inflows unless the cumulative distributions received exceed the Partnership's cumulative equity in earnings. The excess of cumulative distributions received over the Partnership's cumulative equity in earnings are considered returns of investment and classified as investing cash inflows. |
Property Taxes | Property Taxes The Partnership is responsible for paying property taxes on the properties it owns. Typically, the lessees are contractually responsible for reimbursing the Partnership for property taxes on the leased properties. The payment of and reimbursement of property taxes is included in Operating and maintenance expenses and in Coal royalty and other revenues, respectively, in the Consolidated Statements of Comprehensive Income. |
Transportation Revenue and Expense | Transportation Revenue and Expense The Partnership records transportation revenue and pays transportation costs to a Foresight Energy LP ("Foresight Energy") affiliate to operate equipment on behalf of the Partnership. The revenue and expenses related to these transactions are recorded as Transportation and processing services (or Transportation and processing services—affiliates) and Operating and maintenance expenses or (Operating and maintenance expenses—affiliates), respectively, in the Consolidated Statements of Comprehensive Income. Subsequent to May 9, 2017, Foresight Energy is no longer deemed a related party. Refer to Note 15. Related Party Transactions for further details. |
Unit-Based Compensation | Unit-Based Compensation The Partnership has awarded unit-based compensation in the form of equity-based awards and phantom units. Compensation cost is measured at the grant date for equity-classified awards and remeasured each reporting period for liability-classified awards based on the fair value of an award and is recognized over the service period, which is generally the vesting period. Forfeitures are recognized as they occur. Unit-based compensation expense for all awards is recognized in General and administrative expense and Operating and maintenance expense in the Consolidated Statements of Comprehensive Income. |
Deferred Financing Costs | Deferred Financing Costs Deferred financing costs consist of legal and other costs related to the issuance of the Partnership’s debt. These costs are amortized over the term of the respective line-of-credit or debt arrangements. Deferred financing costs related to the Partnership's revolving credit facility are included in Other assets (long-term) on the Partnership's Consolidated Balance Sheets. Deferred financing costs related to the Partnership's note agreements are included as a direct deduction from the carrying amount of the debt liability in Current portion of long-term debt, net or Long-term debt, net on the Partnership's Consolidated Balance Sheets. |
Income Taxes | Income Taxes The Partnership is not subject to federal or material state income taxes, as the unitholders are taxed individually on their allocable share of taxable income. Net income for financial statement purposes may differ significantly from taxable income reportable to unitholders as a result of differences between the tax basis and financial reporting basis of assets and liabilities. In the event of an examination of the Partnership’s tax return, the tax liability of the unitholders could be changed if an adjustment in the Partnership’s income is ultimately sustained by the taxing authorities. |
Recently Issued Accounting Standards | Recently Adopted Accounting Standards Revenue Recognition On January 1, 2018, NRP adopted Accounting Standards Codification (ASC) 606, Revenue from Contracts with Customers, and all the related amendments (the “new revenue standard” and "ASC 606") to all open contracts using the modified retrospective method. The adoption of the new revenue standard impacted royalty revenue from NRP's coal and aggregates royalty leases as further described below. NRP recognized a $70.5 million cumulative effect of adoption adjustment in the opening balance of partners' capital on January 1, 2018. Prior year information has not been restated and continues to be reported under the accounting standards in effect for those periods. The new revenue standard had no impact on revenues from NRP's Soda Ash operating segment or on the discontinued operations. A majority of NRP’s coal and aggregates royalty revenue continues to be recognized over the lease term based on production. For coal and aggregates royalty leases for which NRP expects consideration from minimum payments to be greater than consideration from production over the lease term, royalty revenue is now recognized straight-line over the lease term based on the minimum payment consideration. The cumulative effects of the changes made to the Partnership's Consolidated Balance Sheet at January 1, 2018 for the adoption of the new revenue standard were as follows: (In thousands) Balance at December 31, 2017 Adjustments due to ASC 606 Balance at January 1, 2018 Assets Accounts receivable, net (including affiliates) $ 24,211 $ 4,875 $ 29,086 Liabilities Current portion of deferred revenue $ — $ 1,022 $ 1,022 Deferred revenue 100,605 (66,613 ) 33,992 Partners’ capital Common unitholders’ interest $ 199,851 $ 69,057 $ 268,908 General partner’s interest 1,857 1,409 3,266 Total partners’ capital 265,211 70,466 335,677 The impact of adoption of the new revenue standard on NRP’s Consolidated Balance Sheet and Consolidated Statement of Comprehensive Income was as follows: As of December 31, 2018 (In thousands) As Reported Balances without Adoption of ASC 606 Effect of Change Assets Accounts receivable, net (including affiliates) $ 32,058 $ 27,520 $ 4,538 Total assets 1,341,647 1,337,109 4,538 Liabilities and capital Current portion of deferred revenue $ 3,509 $ — $ 3,509 Deferred revenue 49,044 62,783 (13,739 ) Total liabilities 756,514 766,744 (10,230 ) Partners’ capital Common unitholders’ interest $ 355,113 $ 340,640 $ 14,473 General partner’s interest 5,014 4,719 295 Total partners’ capital 423,481 408,713 14,768 Total liabilities and capital 1,341,647 1,337,109 4,538 For the Year Ended December 31, 2018 (In thousands, except per unit data) As Reported Amounts without Adoption of ASC 606 Effect of Change Coal royalty and other revenues (including affiliates) (1) $ 178,878 $ 234,428 $ (55,550 ) Net income from continuing operations 122,360 178,058 (55,698 ) Net income 140,047 195,745 (55,698 ) Net income per common unit (basic) 8.77 13.23 (4.46 ) Net income per common unit (diluted) 6.76 9.46 (2.70 ) (1) The total effect of adopting ASC 606 was $55.6 million during the year ended December 31, 2018, which included $33.4 million related to the forfeiture of recoupable balances in connection with the fourth quarter 2018 settlement of the Macoupin and Hillsboro lawsuits, the majority of which was previously recognized in partners' capital upon adoption and $7.2 million of modification fees and forfeited recoupable balances related to fourth quarter 2018 lease modifications which were deferred under ASC 606 and will be recognized straight-line over the respective modified lease terms. Recently Issued Accounting Standards Leases In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). The new standard requires a lessee to recognize assets and liabilities on the balance sheet for the present value of the rights and obligations created by all leases with terms of more than 12 months. This standard does not apply to leases that explore for or use minerals, oil, natural gas and similar non-regenerative resources, including the intangible right to explore for those natural resources and rights to use the land in which those natural resources are contained. The guidance also requires disclosures designed to give financial statement users information on the amount, timing and uncertainty of cash flows arising from leases. The guidance is effective for annual and interim periods beginning after December 15, 2018 and is to be adopted using a modified retrospective approach. The Partnership will adopt this standard effective January 1, 2019 and does not expect that the provisions of this guidance will have a material impact on its consolidated financial statements. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Accounting Policies [Abstract] | |
Summary of Plant and Equipment Useful Lives | These assets are depreciated on a straight-line basis over their useful lives generally as follows: Years Buildings and improvements 20 to 40 Machinery and equipment 5 to 12 Leasehold improvements Life of Lease |
Schedule of New Accounting Pronouncements | The cumulative effects of the changes made to the Partnership's Consolidated Balance Sheet at January 1, 2018 for the adoption of the new revenue standard were as follows: (In thousands) Balance at December 31, 2017 Adjustments due to ASC 606 Balance at January 1, 2018 Assets Accounts receivable, net (including affiliates) $ 24,211 $ 4,875 $ 29,086 Liabilities Current portion of deferred revenue $ — $ 1,022 $ 1,022 Deferred revenue 100,605 (66,613 ) 33,992 Partners’ capital Common unitholders’ interest $ 199,851 $ 69,057 $ 268,908 General partner’s interest 1,857 1,409 3,266 Total partners’ capital 265,211 70,466 335,677 The impact of adoption of the new revenue standard on NRP’s Consolidated Balance Sheet and Consolidated Statement of Comprehensive Income was as follows: As of December 31, 2018 (In thousands) As Reported Balances without Adoption of ASC 606 Effect of Change Assets Accounts receivable, net (including affiliates) $ 32,058 $ 27,520 $ 4,538 Total assets 1,341,647 1,337,109 4,538 Liabilities and capital Current portion of deferred revenue $ 3,509 $ — $ 3,509 Deferred revenue 49,044 62,783 (13,739 ) Total liabilities 756,514 766,744 (10,230 ) Partners’ capital Common unitholders’ interest $ 355,113 $ 340,640 $ 14,473 General partner’s interest 5,014 4,719 295 Total partners’ capital 423,481 408,713 14,768 Total liabilities and capital 1,341,647 1,337,109 4,538 For the Year Ended December 31, 2018 (In thousands, except per unit data) As Reported Amounts without Adoption of ASC 606 Effect of Change Coal royalty and other revenues (including affiliates) (1) $ 178,878 $ 234,428 $ (55,550 ) Net income from continuing operations 122,360 178,058 (55,698 ) Net income 140,047 195,745 (55,698 ) Net income per common unit (basic) 8.77 13.23 (4.46 ) Net income per common unit (diluted) 6.76 9.46 (2.70 ) (1) The total effect of adopting ASC 606 was $55.6 million during the year ended December 31, 2018, which included $33.4 million related to the forfeiture of recoupable balances in connection with the fourth quarter 2018 settlement of the Macoupin and Hillsboro lawsuits, the majority of which was previously recognized in partners' capital upon adoption and $7.2 million of modification fees and forfeited recoupable balances related to fourth quarter 2018 lease modifications which were deferred under ASC 606 and will be recognized straight-line over the respective modified lease terms. |
Revenue from Contracts with C_2
Revenue from Contracts with Customers (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Revenue from Contract with Customer [Abstract] | |
Disaggregation of Revenue | The following table represents the Partnership's Coal Royalty and Other segment revenues (including affiliates) by major source: Year Ended (In thousands) December 31, 2018 Coal royalty revenue $ 129,341 Production lease minimum revenue 8,207 Minimum lease straight-line revenue 2,362 Property tax revenue 5,422 Wheelage revenue 6,484 Coal overriding royalty revenue 13,878 Aggregates royalty revenue 4,739 Oil and gas royalty revenue 6,608 Other revenue 1,837 Coal royalty and other revenues (1) $ 178,878 Transportation and processing services revenue (2) 23,887 Total Coal royalty and other segment revenues $ 202,765 (1) Represents revenue from contracts with customers as defined under ASC 606. (2) Revenue from contracts with customers as defined under ASC 606 was $13.2 million for the year ended December 31, 2018 . The remaining transportation and processing services revenue of $10.7 million for the year ended December 31, 2018 was related to other NRP-owned infrastructure leased to and operated by third party operators accounted for under ASC 840, Leases. |
Contract with Customer, Asset and Liability | The following table details the Partnership's Coal Royalty and Other segment receivables and liabilities resulting from contracts with customers: December 31, January 1, (In thousands) 2018 2018 Receivables Total accounts receivable, net (including affiliates) (1) $ 29,001 $ 25,443 Prepaid expenses and other (2) 2,483 2,830 Contract liabilities Current portion of deferred revenue $ 3,509 $ 1,022 Deferred revenue 49,044 33,992 (1) Included in this amount is $4.4 million and $ 1.9 million of accounts receivable related to accrued minimum consideration as of December 31, 2018 and January 1, 2018, respectively. (2) Notes receivable from contracts with customers are included within Prepaid expenses and other in the Consolidated Balance Sheets. |
Revenue Recognition Deferred Revenue Rollforward | The following table shows the activity related to the Partnership's Coal Royalty and Other segment deferred revenue: Year Ended (In thousands) December 31, 2018 Balance at December 31, 2017 $ 100,605 Cumulative adjustment for change in accounting principle (1) (65,591 ) Balance at January 1, 2018 (current and non-current) $ 35,014 Recognition of previously deferred revenue (20,242 ) Accrued minimum payments and lease modification fees due 5,592 Cash received for minimum payments and lease modification fees 32,189 Balance at December 31, 2018 (current and non-current) (2) $ 52,553 (1) Included in this amount is $(67.5) million recognized in Partners' capital and $1.9 million of accrued minimum consideration recognized in Accounts receivable, net. (2) Included in this amount is $7.2 million of deferred modification fees and forfeited recoupable balances which will be recognized straight-line over the respective modified lease terms in Coal Royalty and other revenues on the Consolidated Statements of Comprehensive Income over the remaining terms of the modified leases, which extend over the next 6 years . The following table shows the Partnership's Coal Royalty and Other segment revenue recognized during the year ended December 31, 2018 that was included in the deferred revenue balance at the beginning of the period: Year Ended (In thousands) December 31, 2018 Production leases - revenue impact Recoupments recognized in Coal and aggregates royalty revenue $ 10,178 Breakage revenue recognized in Production lease minimum revenue 7,169 Expiration of unrecouped minimums recognized in Production lease minimum revenue 935 Minimum leases - revenue impact Minimum lease amortization recognized in Minimum lease straight-line revenue 1,960 Total previously deferred revenue recognized $ 20,242 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction | The Partnership's non-cancelable annual minimum payments due under the lease terms of its coal and aggregates royalty leases are as follows: Lease Term (1) Weighted Average Remaining Years as of December 31, 2018 Annual Minimum Payments (In thousands) 1 - 5 years 0.6 $ 13,072 5 - 10 years 1.3 13,060 10+ years 9.0 41,202 |
Discontinued Operations (Tables
Discontinued Operations (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Disposal Groups, Including Discontinued Operations | The following tables present the carrying amounts of the Partnership's assets and liabilities of discontinued operations in the Consolidated Balance Sheets: December 31, 2018 (In thousands) Construction Aggregates NRP Total ASSETS Current assets: Accounts receivable, net $ 5 $ 988 $ 993 Total assets of discontinued operations $ 5 $ 988 $ 993 LIABILITIES Current liabilities: Accounts payable (including affiliates) $ 181 $ — $ 181 Accrued liabilities 766 — 766 Total liabilities of discontinued operations $ 947 $ — $ 947 December 31, 2017 (In thousands) Construction Aggregates NRP Total ASSETS Current assets: Cash and cash equivalents $ 2,847 $ — $ 2,847 Accounts receivable, net 22,976 991 23,967 Inventory 7,553 — 7,553 Prepaid expenses and other 2,056 — 2,056 Total current assets of discontinued operations 35,432 991 36,423 Land 1,239 — 1,239 Plant and equipment, net 44,822 — 44,822 Mineral rights, net 105,466 — 105,466 Intangible assets, net 2,734 — 2,734 Other assets 1,681 — 1,681 Total assets of discontinued operations $ 191,374 $ 991 $ 192,365 LIABILITIES Current liabilities: Accounts payable (including affiliates) (1) $ 6,019 $ — $ 6,019 Accrued liabilities 5,348 — 5,348 Other — 401 401 Total current liabilities of discontinued operations 11,367 401 11,768 Other non-current liabilities 2,220 — 2,220 Total liabilities of discontinued operations $ 13,587 $ 401 $ 13,988 (1) See Note 15. Related Party Transactions for additional information on the Partnership's related party liabilities. The following tables present summarized financial results of the Partnership's discontinued operations in the Consolidated Statements of Comprehensive Income: For the Year Ended December 31, 2018 (In thousands) Construction Aggregates NRP Oil and Gas Total Revenues and other income: Construction aggregates $ 116,066 $ — $ 116,066 Road construction and asphalt paving services 18,400 — 18,400 Oil and gas — (3 ) (3 ) Gain on asset sales, net 13,414 — 13,414 Total revenues and other income $ 147,880 $ (3 ) $ 147,877 Operating expenses: Operating and maintenance expenses (including affiliates) (1) $ 117,568 $ 134 $ 117,702 Depreciation, depletion and amortization 12,218 — 12,218 Asset impairments 232 — 232 Total operating expenses $ 130,018 $ 134 $ 130,152 Interest expense, net (38 ) — (38 ) Income (loss) from discontinued operations $ 17,824 $ (137 ) $ 17,687 (1) See Note 15. Related Party Transactions for additional information on the Partnership's related party expenses. For the Year Ended December 31, 2017 (In thousands) Construction Aggregates NRP Oil and Gas Total Revenues and other income: Construction aggregates $ 112,970 $ — $ 112,970 Road construction and asphalt paving services 18,411 — 18,411 Oil and gas — 38 38 Gain (loss) on asset sales 311 (289 ) 22 Total revenues and other income $ 131,692 $ (251 ) $ 131,441 Operating expenses: Operating and maintenance expenses (including affiliates) (1) $ 111,633 $ 290 $ 111,923 Depreciation, depletion and amortization 12,579 — 12,579 Asset impairments 64 — 64 Total operating expenses $ 124,276 $ 290 $ 124,566 Interest expense, net (693 ) — (693 ) Income (loss) from discontinued operations $ 6,723 $ (541 ) $ 6,182 (1) See Note 15. Related Party Transactions for additional information on the Partnership's related party expenses. For the Year Ended December 31, 2016 (In thousands) Construction Aggregates NRP Oil and Gas Total Revenues and other income: Construction aggregates $ 103,755 $ — $ 103,755 Road construction and asphalt paving services 17,047 — 17,047 Oil and gas — 16,486 16,486 Gain on asset sales, net 13 8,274 8,287 Total revenues and other income $ 120,815 $ 24,760 $ 145,575 Operating expenses: Operating and maintenance expenses (including affiliates) (1) $ 100,656 $ 11,503 $ 112,159 Depreciation, depletion and amortization 14,506 7,527 22,033 Asset impairments 1,065 564 1,629 Total operating expenses $ 116,227 $ 19,594 $ 135,821 Interest expense, net — (3,488 ) (3,488 ) Income from discontinued operations $ 4,588 $ 1,678 $ 6,266 (1) See Note 15. Related Party Transactions for additional information on the Partnership's related party expenses. The following table presents supplemental cash flow information of the Partnership's discontinued operations: Year Ended December 31, (In thousands) 2018 2017 2016 Cash paid for interest $ — $ — $ 1,906 Plant, equipment and mineral rights funded with accounts payable or accrued liabilities 881 294 — |
Class A Convertible Preferred_2
Class A Convertible Preferred Units and Warrants (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Equity [Abstract] | |
Preferred Units and Warrants Issued | The Preferred Units and Warrants were initially recognized as follows: (In thousands) March 2, 2017 Transaction price, gross $ 250,000 Structuring, origination and other fees to Preferred Purchasers (7,900 ) Transaction costs to other third parties (10,697 ) Transaction price, net $ 231,403 Allocation of net transaction price Preferred Units, net $ 164,587 Warrant holders interest, net 66,816 Transaction price, net $ 231,403 |
Financial Position of Preferred Units | Activity related to the Preferred Units is as follows: (In thousands, except unit data) Units Outstanding Financial Position Balance at December 31, 2016 — $ — Issuance of Preferred Units, net 250,000 164,587 Distribution paid-in-kind 8,844 8,844 Balance at December 31, 2017 258,844 $ 173,431 Redemption of PIK Units (8,844 ) (8,844 ) Balance at December 31, 2018 250,000 $ 164,587 |
Common and Preferred Unit Dis_2
Common and Preferred Unit Distributions (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Equity [Abstract] | |
Schedule of distributions paid | The following table shows the distributions declared and paid to common unitholders during the years ended December 31, 2018 , 2017 and 2016 , respectively: Total Distributions (in thousands) Date Paid Period Covered by Distribution Distribution per Common Unit Common Units GP Interest Total 2018 February 14, 2018 October 1 - December 31, 2017 $ 0.45 $ 5,505 $ 112 $ 5,617 May 14, 2018 January 1 - March 31, 2018 0.45 5,510 113 5,623 August 14, 2018 April 1 - June 30, 2018 0.45 5,511 112 5,623 November 14, 2018 July 1 - September 30, 2018 0.45 5,510 113 5,623 2017 February 14, 2017 October 1 - December 31, 2016 $ 0.45 $ 5,503 $ 112 $ 5,615 May 12, 2017 January 1 - March 31, 2017 0.45 5,506 113 5,619 August 14, 2017 April 1 - June 30, 2017 0.45 5,504 112 5,616 November 14, 2017 July 1 - September 30, 2017 0.45 5,505 112 5,617 2016 February 12, 2016 October 1 - December 31, 2015 $ 0.45 $ 5,503 $ 113 $ 5,616 May 13, 2016 January 1 - March 31, 2016 0.45 5,503 113 5,616 August 12, 2016 April 1 - June 30, 2016 0.45 5,505 112 5,617 November 14, 2016 July 1 - September 30, 2016 0.45 5,503 113 5,616 Preferred Unit Distributions The following table shows the distributions declared and paid to Preferred Unitholders during the years ended December 31, 2018 and 2017 : Date Paid Period Covered by Distribution Distribution per Preferred Unit Total Distribution Declared (in thousands) 2018 February 7, 2018 October 1 - December 31, 2017 $ 30.00 $ 7,765 May 14, 2018 January 1 - March 31, 2018 30.00 7,500 August 14, 2018 April 1 - June 30, 2018 30.00 7,500 November 14, 2018 July 1 - September 30, 2018 30.00 7,500 2017 May 30, 2017 March 2 - March 31, 2017 $ 5.00 $ 2,500 August 29, 2017 April 1 - June 30, 2017 15.00 7,538 November 29, 2017 July 1 - September 30, 2017 15.00 7,650 |
Net Income Per Common Unit (Tab
Net Income Per Common Unit (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Earnings Per Share [Abstract] | |
Reconciliation of Net Income to Weighted Average Units Outstanding | he following table reconciles the numerators and denominators of the basic and diluted net income per common unit computations and calculates basic and diluted net income per common unit: Year Ended December 31, (In thousands, except per unit data) 2018 2017 2016 Allocation of net income: Net income from continuing operations $ 122,360 $ 82,485 $ 90,626 Less: net income attributable to non-controlling interest (510 ) — — Less: income attributable to preferred unitholders (30,000 ) (25,453 ) — Net income from continuing operations attributable to common unitholders and general partner $ 91,850 $ 57,032 $ 90,626 Less: net income from continuing operations attributable to the general partner (1,837 ) (1,141 ) (1,537 ) Net income from continuing operations attributable to common unitholders $ 90,013 $ 55,891 $ 89,089 Net income from discontinued operations $ 17,687 $ 6,182 $ 6,266 Less: net income from discontinued operations attributable to the general partner (354 ) (123 ) (126 ) Net income from discontinued operations attributable to common unitholders $ 17,333 $ 6,059 $ 6,140 Net income $ 140,047 $ 88,667 $ 96,892 Less: net income attributable to non-controlling interest (510 ) — — Less: income attributable to preferred unitholders (30,000 ) (25,453 ) — Net income attributable to common unitholders and general partner $ 109,537 $ 63,214 $ 96,892 Less: net income attributable to the general partner (2,191 ) (1,264 ) (1,663 ) Net income attributable to common unitholders $ 107,346 $ 61,950 $ 95,229 Basic income per common unit: Weighted average common units—basic 12,244 12,232 12,232 Basic net income from continuing operations per common unit $ 7.35 $ 4.57 $ 7.28 Basic net income from discontinued operations per common unit $ 1.42 $ 0.50 $ 0.50 Basic net income per common unit $ 8.77 $ 5.06 $ 7.78 Year Ended December 31, (In thousands, except per unit data) 2018 2017 2016 Diluted income per common unit: Weighted average common units—basic 12,244 12,232 12,232 Plus: dilutive effect of Warrants 511 300 — Plus: dilutive effect of Preferred Units 7,479 9,418 — Weighted average common units—diluted 20,234 21,950 12,232 Net income from continuing operations $ 122,360 $ 82,485 $ 90,626 Less: net income attributable to non-controlling interest (510 ) — — Diluted net income from continuing operations attributable to common unitholders and general partner $ 121,850 $ 82,485 $ 90,626 Less: net income from continuing operations attributable to the general partner (2,437 ) (1,650 ) (1,537 ) Diluted net income from continuing operations attributable to common unitholders $ 119,413 $ 80,835 $ 89,089 Diluted net income from discontinued operations attributable to common unitholders $ 17,333 $ 6,059 $ 6,140 Net income $ 140,047 $ 88,667 $ 96,892 Less: net income attributable to non-controlling interest (510 ) — — Diluted net income attributable to common unitholders and general partner $ 139,537 $ 88,667 $ 96,892 Less: diluted net income attributable to the general partner (2,791 ) (1,773 ) (1,663 ) Diluted net income attributable to common unitholders $ 136,746 $ 86,894 $ 95,229 Diluted net income from continuing operations per common unit $ 5.90 $ 3.68 $ 7.28 Diluted net income from discontinued operations per common unit $ 0.86 $ 0.28 $ 0.50 Diluted net income per common unit $ 6.76 $ 3.96 $ 7.78 |
Segment Information (Tables)
Segment Information (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Segment Reporting [Abstract] | |
Schedule of Segment Reporting Information, by Segment | The following table summarizes certain financial information for each of the Partnership's business segments: Operating Segments (In thousands) Coal Royalty and Other Soda Ash Corporate and Financing Total For the Year Ended December 31, 2018 Revenues (including affiliates) $ 202,765 $ 48,306 $ — $ 251,071 Gain on litigation settlement 25,000 — — 25,000 Gain on asset sales, net 2,441 — — 2,441 Operating and maintenance expenses (including affiliates) 29,509 — — 29,509 Depreciation, depletion and amortization 21,689 — — 21,689 General and administrative (including affiliates) — — 16,496 16,496 Asset impairments 18,280 — — 18,280 Other expense, net — — 70,178 70,178 Net income (loss) from continuing operations 160,728 48,306 (86,674 ) 122,360 Net income from discontinued operations — — — 17,687 As of December 31, 2018 Total assets of continuing operations $ 986,680 $ 247,051 $ 106,923 $ 1,340,654 Total assets of discontinued operations — — — 993 For the Year Ended December 31, 2017 Revenues (including affiliates) $ 202,323 $ 40,457 $ — $ 242,780 Gain on asset sales, net 3,545 — — 3,545 Operating and maintenance expenses 24,883 — — 24,883 Depreciation, depletion and amortization 23,414 — — 23,414 General and administrative (including affiliates) — — 18,502 18,502 Asset impairments 2,967 — — 2,967 Other expense, net — — 94,074 94,074 Net income (loss) from continuing operations 154,604 40,457 (112,576 ) 82,485 Net income from discontinued operations — — — 6,182 As of December 31, 2017 Total assets of continuing operations $ 945,237 $ 245,433 $ 6,129 $ 1,196,799 Total assets of discontinued operations — — — 192,365 For the Year Ended December 31, 2016 Revenues (including affiliates) $ 210,115 $ 40,061 $ — $ 250,176 Gain on asset sales, net 29,068 — — 29,068 Operating and maintenance expenses (including affiliates) 29,890 — — 29,890 Depreciation, depletion and amortization (including affiliates) 31,766 — — 31,766 General and administrative (including affiliates) — — 20,570 20,570 Asset impairments 15,861 — — 15,861 Other expense, net — — 90,531 90,531 Net income (loss) from continuing operations 161,666 40,061 (111,101 ) 90,626 Net income from discontinued operations — — — 6,266 Capital expenditures 5 — — 5 |
Equity Investment (Tables)
Equity Investment (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Schedule of Summarized Financial Information | The Partnership accounts for its 49% investment in Ciner Wyoming using the equity method of accounting. Activity related to this investment is as follows: For the Year Ended December 31, (In thousands) 2018 2017 2016 Balance at beginning of period $ 245,433 $ 255,901 $ 261,942 Income allocation to NRP’s equity interests (1) 53,095 44,846 44,882 Amortization of basis difference (4,789 ) (4,389 ) (4,821 ) Comprehensive income (loss) from unconsolidated investment (138 ) (1,925 ) 448 Distribution (46,550 ) (49,000 ) (46,550 ) Balance at end of period $ 247,051 $ 245,433 $ 255,901 (1) Includes reclassifications of accumulated other comprehensive loss to income allocation to NRP equity interest of $0.5 million , $0.7 million and $0.9 million for the year ended December 31, 2018, 2017 and 2016 , respectively. The following table represents summarized financial information for Ciner Wyoming as derived from the respective financial statements for the years ended December 31, 2018 , 2017 , and 2016 : For the Year Ended December 31, (In thousands) 2018 2017 2016 Sales $ 486,759 $ 497,340 $ 475,187 Gross profit 104,053 114,202 114,232 Net income 108,357 91,523 91,596 The financial position of Ciner Wyoming is summarized as follows: December 31, (In thousands) 2018 2017 Current assets $ 138,080 $ 180,433 Noncurrent assets 252,743 228,002 Current liabilities 64,012 56,219 Noncurrent liabilities 109,921 148,401 |
Plant and Equipment, Net (Table
Plant and Equipment, Net (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Property, Plant and Equipment [Abstract] | |
Plant and Equipment | The Partnership’s plant and equipment consist of the following: December 31, (In thousands) 2018 2017 Plant and equipment at cost $ 6,865 $ 6,865 Less: accumulated depreciation (5,881 ) (5,517 ) Total plant and equipment, net $ 984 $ 1,348 |
Mineral Rights, Net (Tables)
Mineral Rights, Net (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Extractive Industries [Abstract] | |
Mineral Rights | The Partnership’s mineral rights consist of the following: December 31, 2018 (In thousands) Carrying Value Accumulated Depletion Net Book Value Coal properties $ 1,164,845 $ (451,210 ) $ 713,635 Aggregates properties 24,920 (11,814 ) 13,106 Oil and gas royalty properties 12,395 (7,632 ) 4,763 Other 13,158 (1,550 ) 11,608 Total mineral rights, net $ 1,215,318 $ (472,206 ) $ 743,112 December 31, 2017 (In thousands) Carrying Value Accumulated Depletion Net Book Value Coal properties $ 1,170,104 $ (436,964 ) $ 733,140 Aggregates properties 37,942 (9,602 ) 28,340 Oil and gas royalty properties 12,395 (7,158 ) 5,237 Other 13,168 (1,466 ) 11,702 Total mineral rights, net $ 1,233,609 $ (455,190 ) $ 778,419 |
Schedule of Impairment Expense | During the years ended December 31, 2018 , 2017 and 2016 , the Partnership identified facts and circumstances that indicated that the carrying value of certain of its mineral rights exceed future cash flows from those assets and recorded non-cash impairment expense included in Asset impairments on the Consolidated Statements of Comprehensive Income as follows: For the Years Ended December 31, (In thousands) 2018 2017 2016 Coal properties (1) $ 5,259 $ 595 $ 12,088 Oil and gas properties — — 36 Aggregates and timber royalty properties (2) 13,021 2,372 1,677 Total $ 18,280 $ 2,967 $ 13,801 (1) The Partnership recorded $5.3 million of coal property impairments during the year ended December 31, 2018 primarily as a result of lease terminations, of which it recorded $5.0 million of impairment expense to fully impair certain coal properties during the three months ended December 31, 2018. The Partnership recorded $0.6 million of coal property impairments during the year ended December 31, 2017. The Partnership recorded $12.1 million of coal property impairments during the year ended December 31, 2016 primarily as a result of lease surrender and termination. The Partnership recorded $3.8 million of coal property impairment during the three months ended September 30, 2016 and the fair value of the impaired asset was reduced to $4.0 million at September 30, 2016. The Partnership recorded $8.2 million of impairment expense to fully impair certain coal property impairment during the three months ended December 31, 2016. (2) During the three months ended December 31, 2018, the Partnership recorded $13.0 million of impairment expense related to an aggregates property that the Partnership owns and leases to its former construction aggregates business, which mines, produces and sells the aggregates. The fair value of the impaired asset was reduced to $2.3 million at December 31, 2018. The Partnership recorded $2.4 million and $1.7 million of aggregates and timber royalty properties impairments during the year ended December 31, 2017 and 2016, respectively. |
Intangible Assets, Net (Tables)
Intangible Assets, Net (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Finite-Lived Intangible Assets [Line Items] | |
Schedule of Finite-Lived Intangible Assets | The Partnership's intangible assets included on its Consolidated Balance Sheets are as follows: December 31, (In thousands) 2018 2017 Intangible assets $ 81,109 $ 81,109 Less: accumulated amortization (38,596 ) (34,289 ) Total intangible assets, net $ 42,513 $ 46,820 |
Estimated Amortization Expense | The estimates of amortization expense for the years ended December 31, as indicated below, are based on current mining plans and are subject to revision as those plans change in future periods. (In thousands) Estimated Amortization Expense 2019 $ 3,251 2020 3,741 2021 3,660 2022 3,636 2023 3,602 |
Debt, Net (Tables)
Debt, Net (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Debt Disclosure [Abstract] | |
Long-Term Debt | The Partnership's debt consists of the following: December 31, (In thousands) 2018 2017 NRP LP debt: 10.500% senior notes, with semi-annual interest payments in March and September, due March 2022, $241 million issued at par and $105 million issued at 98.75% $ 345,638 $ 345,638 Opco debt: Revolving credit facility — 60,000 Senior notes 4.91% with semi-annual interest payments in June and December, with annual principal payments in June, due June 2018 — 4,586 8.38% with semi-annual interest payments in March and September, with annual principal payments in March, due March 2019 21,319 42,670 5.05% with semi-annual interest payments in January and July, with annual principal payments in July, due July 2020 15,290 22,946 5.55% with semi-annual interest payments in June and December, with annual principal payments in June, due June 2023 13,414 16,115 4.73% with semi-annual interest payments in June and December, with annual principal payments in December, due December 2023 37,195 44,693 5.82% with semi-annual interest payments in March and September, with annual principal payments in March, due March 2024 89,529 104,520 8.92% with semi-annual interest payments in March and September, with annual principal payments in March, due March 2024 27,185 31,733 5.03% with semi-annual interest payments in June and December, with annual principal payments in December, due December 2026 107,013 120,547 5.18% with semi-annual interest payments in June and December, with annual principal payments in December, due December 2026 30,555 34,396 Total debt at face value $ 687,138 $ 827,844 Net unamortized debt discount (1,266 ) (1,661 ) Net unamortized debt issuance costs (13,114 ) (16,835 ) Total debt, net $ 672,758 $ 809,348 Less: current portion of long-term debt 115,184 79,740 Total long-term debt, net $ 557,574 $ 729,608 |
Principal Payments Due | The consolidated principal payments due are set forth below: NRP LP Opco (In thousands) Senior Notes (1) Senior Notes Credit Facility Total 2019 $ — $ 116,125 $ — $ 116,125 2020 — 46,436 — 46,436 2021 — 39,634 — 39,634 2022 345,638 39,634 — 385,272 2023 — 39,634 — 39,634 Thereafter — 60,037 — 60,037 $ 345,638 $ 341,500 $ — $ 687,138 (1) The 10.500% senior notes due 2022 were issued at a discount and were carried at $344.4 million and $344.0 million as of December 31, 2018 and 2017 , respectively. |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Fair Value Disclosures [Abstract] | |
Contractual Override, Note Receivable and Long-Term Debt | The following table shows the carrying amount and estimated fair value of the Partnership's debt and contracts receivable: December 31, 2018 December 31, 2017 (In thousands) Carrying Value Estimated Carrying Estimated Debt: NRP 2022 Senior Notes (1) $ 334,024 $ 356,871 $ 330,404 $ 366,376 Opco Senior Notes (2) 338,734 352,599 418,944 447,538 Opco Revolving Credit Facility (3) — — 60,000 60,000 Assets: Contracts receivable, current and long-term (4) $ 40,776 $ 34,704 $ 43,826 $ 30,517 (1) The Level 1 fair value is based upon quotations obtained for identical instruments on the closing trading prices near period end. (2) Due to no observable quoted prices on these instruments, the Level 3 fair value is estimated by management using quotations obtained for the NRP Senior Notes on the closing trading prices near period end. (3) The Level 3 fair value approximates the outstanding borrowing amount because the interest rates are variable and reflective of market rates and the terms of the credit facility allow the Partnership to repay this debt at any time without penalty. (4) The Level 3 fair value is determined based on the present value of future cash flow projections related to the underlying assets. |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Related Party Transactions [Abstract] | |
Schedule of Related Party Transactions | December 31, (In thousands) 2018 2017 Projected remaining payments $ 66,495 $ 71,452 Unearned income 25,058 28,366 For the Years Ended December 31, (In thousands) 2018 2017 2016 Revenues: Coal royalty and other $ 30,777 $ 28,763 $ — Coal royalty and other — affiliates — 21,204 44,019 Transportation and processing services 23,818 14,510 — Transportation and processing services—affiliate — 6,012 19,336 Total $ 54,595 $ 70,489 $ 63,355 Expenses: Operating and maintenance expense $ 1,761 $ 1,066 $ — Operating and maintenance expense—affiliates — 452 1,347 Total $ 1,761 $ 1,518 $ 1,347 |
Summary of Reimbursements | For the Years Ended December 31, (In thousands) 2018 2017 2016 Operating and maintenance expenses—affiliates $ 6,170 $ 6,184 $ 8,119 General and administrative—affiliates 3,658 4,989 3,591 |
Major Customers (Tables)
Major Customers (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Risks and Uncertainties [Abstract] | |
Major customers | Revenues from customers that exceeded 10 percent of total revenues for any of the periods presented below are as follows: For the Years Ended December 31, 2018 2017 2016 (In thousands) Revenues Percent Revenues Percent Revenues Percent Foresight Energy $ 54,595 21.7 % $ 70,489 29.0 % $ 63,355 25.3 % Revenues from Foresight Energy are included within the Partnership's Coal Royalty and Other segment. |
Unit-Based Compensation (Tables
Unit-Based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Summary of Activity in Outstanding Grants | A summary of activity in the outstanding grants during 2018 is as follows: (In thousands) Common Units Weighted Average Exercise Price Outstanding grants at January 1, 2018 — — Granted 75 29.16 Fully vested and issued (17 ) 31.24 Forfeitures (2 ) 38.28 Outstanding at December 31, 2018 56 29.10 |
Supplemental Quarterly Inform_2
Supplemental Quarterly Information (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Quarterly Financial Information Disclosure [Abstract] | |
Selected Quarterly Financial Information | The following table summarizes quarterly financial data for 2018: (In thousands, except per unit data) First (1) (2) Second (1) (2) Third (1) Fourth (3) (4) (5) Total Revenues (including affiliates) $ 59,478 $ 69,451 $ 58,207 $ 63,935 $ 251,071 Gain on litigation settlement — — — 25,000 25,000 Gain on asset sales, net 651 168 — 1,622 2,441 Asset impairments 242 — — 18,038 18,280 Income from operations 44,236 52,863 43,346 52,093 192,538 Net income from continuing operations 26,286 35,129 25,853 35,092 122,360 Income (loss) from discontinued operations (1,948 ) 2,981 2,688 13,966 17,687 Net income 24,338 38,110 28,541 49,058 140,047 Net income attributable to NRP 24,338 37,241 28,900 49,058 139,537 Net income attributable to common unitholders and general partner 16,838 29,741 21,400 41,558 109,537 Income from continuing operations per common unit Basic $ 1.50 $ 2.14 $ 1.50 $ 2.21 $ 7.35 Diluted 1.16 1.57 1.18 1.69 5.90 Net income per common unit Basic $ 1.35 $ 2.38 $ 1.71 $ 3.33 $ 8.77 Diluted 1.08 1.71 1.30 2.36 6.76 Weighted average number of common units outstanding (basic) 12,238 12,246 12,246 12,247 12,244 Weighted average number of common units outstanding (diluted) 22,125 21,383 21,840 20,394 20,234 (1) As a result of the sale of its construction aggregates business, the Partnership classified the operating results related to this business as discontinued operations in the Consolidated Statements of Comprehensive Income subsequent to the filing of the Third Quarter 2018 Form 10-Q. See below for a reconciliation to the amounts reported in the Third Quarter 2018 Form 10-Q. (2) During the third quarter of 2018 the Partnership identified an error related to its modified retrospective adoption of ASC 606 on January 1, 2018 for certain coal and aggregates royalty leases and revised its financial statements for the first and second quarter of 2018 in its Third Quarter 2018 Form 10-Q. (3) During the fourth quarter of 2018 the Partnership recorded $25 million in other income related to the Hillsboro litigation settlement. See Note 17. Commitments and Contingencies for more information. (4) During the fourth quarter of 2018 the Partnership sold its construction aggregates business for $205 million , before customary purchase price adjustments and transaction expenses, and recorded a gain of $13.1 million included in Income from discontinued operations on the Partnership's Consolidated Statement of Comprehensive Income. See Note 4. Discontinued Operations for more information. (5) During the fourth quarter of 2018 the Partnership recorded $18.0 million in aggregates and coal property impairment. See Note 11. Mineral Rights, Net for more information. The following tables reconcile the previously reported quarterly information to the quarterly financial data disclosed above: (In thousands, except per unit data) As Originally Reported Reclassified to Discontinued Operations Revised First Quarter 2018 Revenues (including affiliates) $ 86,630 $ (27,152 ) $ 59,478 Gain on asset sales, net 660 (9 ) 651 Asset impairments 242 — 242 Income from operations 42,322 1,914 44,236 Net income from continuing operations 24,352 1,934 26,286 Net loss from discontinued operations (14 ) (1,934 ) (1,948 ) Net income 24,338 — 24,338 Net income attributable to NRP 24,338 — 24,338 Net income attributable to common unitholders and general partner 16,838 — 16,838 Income from continuing operations per common unit Basic $ 1.35 $ 0.15 $ 1.50 Diluted 1.08 0.09 1.16 Net income per common unit Basic $ 1.35 $ — $ 1.35 Diluted 1.08 — 1.08 Weighted average number of common units outstanding (basic) 12,238 — 12,238 Weighted average number of common units outstanding (diluted) 22,125 — 22,125 Second Quarter 2018 Revenues (including affiliates) $ 109,860 $ (40,409 ) $ 69,451 Gain on asset sales, net 210 (42 ) 168 Income from operations 55,878 (3,015 ) 52,863 Net income from continuing operations 38,144 (3,015 ) 35,129 Net income (loss) from discontinued operations (34 ) 3,015 2,981 Net income 38,110 — 38,110 Net income attributable to NRP 37,241 — 37,241 Net income attributable to common unitholders and general partner 29,741 — 29,741 Income from continuing operations per common unit Basic $ 2.38 $ (0.24 ) $ 2.14 Diluted 1.71 (0.14 ) 1.57 Net income per common unit Basic $ 2.38 $ — $ 2.38 Diluted 1.71 — 1.71 Weighted average number of common units outstanding (basic) 12,246 — 12,246 Weighted average number of common units outstanding (diluted) 21,383 — 21,383 (In thousands, except per unit data) As Originally Reported Reclassified to Discontinued Operations Revised Third Quarter 2018 Revenues (including affiliates) $ 94,855 $ (36,648 ) $ 58,207 Gain on asset sales, net 163 (163 ) — Income from operations 46,066 (2,720 ) 43,346 Net income from continuing operations 28,565 (2,712 ) 25,853 Net income (loss) from discontinued operations (24 ) 2,712 2,688 Net income 28,541 — 28,541 Net income attributable to NRP 28,900 — 28,900 Net income attributable to common unitholders and general partner 21,400 — 21,400 Income from continuing operations per common unit Basic $ 1.71 $ (0.22 ) $ 1.50 Diluted 1.30 (0.12 ) 1.18 Net income per common unit Basic $ 1.71 $ — $ 1.71 Diluted 1.30 — 1.30 Weighted average number of common units outstanding (basic) 12,246 — 12,246 Weighted average number of common units outstanding (diluted) 21,840 — 21,840 The following table summarizes quarterly financial data for 2017: (In thousands, except per unit data) First (1) (2) Second (1) (3) Third (1) Fourth (1) Total (1) Revenues (including affiliates) $ 61,432 $ 58,015 $ 58,406 $ 64,927 $ 242,780 Gain on asset sales, net 29 3,184 154 178 3,545 Asset impairments 1,778 — — 1,189 2,967 Income from operations 38,124 47,522 43,052 47,861 176,559 Debt modification expense 7,807 132 — — 7,939 Loss on extinguishment of debt — 4,107 — — 4,107 Net income from continuing operations 7,588 23,153 23,079 28,665 82,485 Net income (loss) from discontinued operations (1,684 ) 2,837 2,987 2,042 6,182 Net income 5,904 25,990 26,066 30,707 88,667 Net income attributable to common unitholders and general partner 3,404 18,452 18,416 22,942 63,214 Income from continuing operations per common unit Basic $ 0.41 $ 1.25 $ 1.24 $ 1.67 $ 4.57 Diluted 0.50 1.01 0.94 1.18 3.68 Net income per common unit Basic $ 0.28 $ 1.47 $ 1.48 $ 1.84 $ 5.06 Diluted 0.28 1.13 1.07 1.26 3.96 Weighted average number of common units outstanding (basic) 12,232 12,232 12,232 12,232 12,232 Weighted average number of common units outstanding (diluted) 14,945 22,459 23,980 23,874 21,950 (1) As a result of the sale of its construction aggregates business, the Partnership classified the operating results related to this business as discontinued operations in the Consolidated Statements of Comprehensive Income subsequent to the filing of the 2017 Form 10-K. See below for a reconciliation to the amounts reported in the 2017 Form 10-K. (2) During the first quarter of 2017 the Partnership incurred $7.8 million of debt modification costs as a result of the exchange of $241 million of our 2018 Senior Notes for 2022 Senior Notes. (3) During the second quarter of 2017 the Partnership incurred a $4.1 million loss on extinguishment of debt related to the 4.563% premium paid to redeem the 2018 Senior Notes in April 2017. The following tables reconcile the previously reported quarterly information to the quarterly financial data disclosed above: (In thousands, except per unit data) As Originally Reported Reclassified to Discontinued Operations Revised First Quarter 2017 Revenues (including affiliates) $ 88,653 $ (27,221 ) $ 61,432 Gain on asset sales, net 44 (15 ) 29 Asset impairments 1,778 — 1,778 Income from operations 37,042 1,082 38,124 Debt modification expense 7,807 — 7,807 Net income from continuing operations 6,111 1,477 7,588 Net income (loss) from discontinued operations (207 ) (1,477 ) (1,684 ) Net income 5,904 — 5,904 Net income attributable to common unitholders and general partner 3,404 — 3,404 Income from continuing operations per common unit Basic $ 0.30 $ 0.12 $ 0.41 Diluted 0.30 0.10 0.50 Net income per common unit Basic $ 0.28 $ — $ 0.28 Diluted 0.28 — 0.28 Weighted average number of common units outstanding (basic) 12,232 — 12,232 Weighted average number of common units outstanding (diluted) 14,945 — 14,945 Second Quarter 2017 Revenues (including affiliates) $ 91,570 $ (33,555 ) $ 58,015 Gain on asset sales, net 3,361 (177 ) 3,184 Income from operations 50,404 (2,882 ) 47,522 Debt modification expense 132 — 132 Loss on extinguishment of debt 4,107 — 4,107 Net income from continuing operations 25,857 (2,704 ) 23,153 Net income (loss) from discontinued operations 133 2,704 2,837 Net income 25,990 — 25,990 Net income attributable to common unitholders and general partner 18,452 — 18,452 Income from continuing operations per common unit Basic $ 1.46 $ (0.22 ) $ 1.25 Diluted 1.13 (0.12 ) 1.01 Net income per common unit Basic $ 1.47 $ — $ 1.47 Diluted 1.13 — 1.13 Weighted average number of common units outstanding (basic) 12,232 — 12,232 Weighted average number of common units outstanding (diluted) 22,459 — 22,459 (In thousands, except per unit data) As Originally Reported Reclassified to Discontinued Operations Revised Third Quarter 2017 Revenues (including affiliates) $ 93,116 $ (34,710 ) $ 58,406 Gain on asset sales, net 171 (17 ) 154 Income from operations 46,531 (3,479 ) 43,052 Net income from continuing operations 26,499 (3,420 ) 23,079 Net income (loss) from discontinued operations (433 ) 3,420 2,987 Net income 26,066 — 26,066 Net income attributable to common unitholders and general partner 18,416 — 18,416 Income from continuing operations per common unit Basic $ 1.51 $ (0.27 ) $ 1.24 Diluted 1.08 (0.14 ) 0.94 Net income per common unit Basic $ 1.48 $ — $ 1.48 Diluted 1.07 — 1.07 Weighted average number of common units outstanding (basic) 12,232 — 12,232 Weighted average number of common units outstanding (diluted) 23,980 — 23,980 Fourth Quarter 2017 Revenues (including affiliates) $ 100,822 $ (35,895 ) $ 64,927 Gain on asset sales, net 280 (102 ) 178 Asset impairments 1,253 (64 ) 1,189 Income from operations 49,998 (2,137 ) 47,861 Net income from continuing operations 30,741 (2,076 ) 28,665 Net income (loss) from discontinued operations (34 ) 2,076 2,042 Net income 30,707 — 30,707 Net income attributable to common unitholders and general partner 22,942 — 22,942 Income from continuing operations per common unit Basic $ 1.84 $ (0.17 ) $ 1.67 Diluted 1.26 (0.09 ) 1.18 Net income per common unit Basic $ 1.84 $ — $ 1.84 Diluted 1.26 — 1.26 Weighted average number of common units outstanding (basic) 12,232 — 12,232 Weighted average number of common units outstanding (diluted) 23,874 — 23,874 (In thousands, except per unit data) As Originally Reported Reclassified to Discontinued Operations Revised Total 2017 Revenues (including affiliates) $ 374,161 $ (131,381 ) $ 242,780 Gain on asset sales, net 3,856 (311 ) 3,545 Asset impairments 3,031 (64 ) 2,967 Income from operations 183,975 (7,416 ) 176,559 Debt modification expense 7,939 — 7,939 Loss on extinguishment of debt 4,107 — 4,107 Net income from continuing operations 89,208 (6,723 ) 82,485 Net income (loss) from discontinued operations (541 ) 6,723 6,182 Net income 88,667 — 88,667 Net income attributable to common unitholders and general partner 63,214 — 63,214 Income from continuing operations per common unit — Basic $ 5.11 $ (0.54 ) $ 4.57 Diluted 3.98 (0.30 ) 3.68 Net income per common unit Basic $ 5.06 $ — $ 5.06 Diluted 3.96 — 3.96 Weighted average number of common units outstanding (basic) 12,232 — 12,232 Weighted average number of common units outstanding (diluted) 21,950 — 21,950 |
Organization and Nature of Op_2
Organization and Nature of Operations - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2018companysegment | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Number of operating segments | segment | 2 |
Number of operating companies owned | company | 1 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies - Summary of Plant and Equipment Useful Lives (Detail) | 12 Months Ended |
Dec. 31, 2018 | |
Leasehold Improvements | |
Property, Plant and Equipment [Line Items] | |
Period of assets which are depreciated on straight line basis over their useful lives | Life of Lease |
Minimum | Buildings and Improvements | |
Property, Plant and Equipment [Line Items] | |
Period of assets which are depreciated on straight line basis over their useful lives | 20 years |
Minimum | Machinery and Equipment | |
Property, Plant and Equipment [Line Items] | |
Period of assets which are depreciated on straight line basis over their useful lives | 5 years |
Maximum | Buildings and Improvements | |
Property, Plant and Equipment [Line Items] | |
Period of assets which are depreciated on straight line basis over their useful lives | 40 years |
Maximum | Machinery and Equipment | |
Property, Plant and Equipment [Line Items] | |
Period of assets which are depreciated on straight line basis over their useful lives | 12 years |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Jan. 01, 2018 | Jul. 31, 2013 | Jan. 31, 2013 | |
Schedule Of Significant Accounting Policies [Line Items] | ||||||||||||||
Allowance for doubtful accounts | $ 4,800 | $ 4,800 | ||||||||||||
Allowance for doubtful accounts - other current assets | $ (1,200) | (1,200) | $ (1,200) | (1,200) | ||||||||||
Bad debt expense | (100) | (2,400) | $ (300) | |||||||||||
Balance Sheet Impact of Adoption of New Revenue Standard | ||||||||||||||
Accounts Receivable Net, Including Related Party Receivables | 32,058 | 32,058 | $ 29,086 | |||||||||||
Assets | 1,341,647 | 1,389,164 | 1,341,647 | 1,389,164 | ||||||||||
Current portion of deferred revenue | 3,509 | 0 | 3,509 | 0 | ||||||||||
Deferred revenue | 49,044 | 100,605 | 49,044 | 100,605 | ||||||||||
Liabilities | 756,514 | 953,916 | 756,514 | 953,916 | ||||||||||
Common unitholders’ interest | 355,113 | 199,851 | 355,113 | 199,851 | 268,908 | |||||||||
General partner's interest | 5,014 | 1,857 | 5,014 | 1,857 | 3,266 | |||||||||
Partners' Capital | 423,481 | 265,211 | 423,481 | 265,211 | 335,677 | |||||||||
Liabilities and Equity | 1,341,647 | 1,389,164 | 1,341,647 | 1,389,164 | ||||||||||
Income Statement Impact of Adoption of New Revenue Standard | ||||||||||||||
Net income from continuing operations | 35,092 | $ 25,853 | $ 35,129 | $ 26,286 | 28,665 | $ 23,079 | $ 23,153 | $ 7,588 | 122,360 | 82,485 | 90,626 | |||
Net income | $ 49,058 | $ 28,541 | $ 38,110 | $ 24,338 | $ 30,707 | $ 26,066 | $ 25,990 | $ 5,904 | $ 140,047 | $ 88,667 | $ 96,892 | |||
Basic net income per common unit | $ 3.33 | $ 1.71 | $ 2.38 | $ 1.35 | $ 1.84 | $ 1.48 | $ 1.47 | $ 0.28 | $ 8.77 | $ 5.06 | $ 7.78 | |||
Diluted net income per common unit | $ 2.36 | $ 1.30 | $ 1.71 | $ 1.08 | $ 1.26 | $ 1.07 | $ 1.13 | $ 0.28 | $ 6.76 | $ 3.96 | $ 7.78 | |||
Ciner Wyoming | ||||||||||||||
Schedule Of Significant Accounting Policies [Line Items] | ||||||||||||||
Percentage of partnership interest owned (percent) | 49.00% | 49.00% | 49.00% | 48.51% | ||||||||||
Leasehold Improvements | ||||||||||||||
Schedule Of Significant Accounting Policies [Line Items] | ||||||||||||||
Period of assets which are depreciated on straight line basis over their useful lives | Life of Lease | |||||||||||||
Minimum | ||||||||||||||
Schedule Of Significant Accounting Policies [Line Items] | ||||||||||||||
Lessor, Operating Lease, Term of Contract | 5 years | 5 years | ||||||||||||
Operating Lease, Late Payment Recovery Period | 3 years | |||||||||||||
Minimum | Buildings and Improvements | ||||||||||||||
Schedule Of Significant Accounting Policies [Line Items] | ||||||||||||||
Period of assets which are depreciated on straight line basis over their useful lives | 20 years | |||||||||||||
Minimum | Machinery and Equipment | ||||||||||||||
Schedule Of Significant Accounting Policies [Line Items] | ||||||||||||||
Period of assets which are depreciated on straight line basis over their useful lives | 5 years | |||||||||||||
Maximum | ||||||||||||||
Schedule Of Significant Accounting Policies [Line Items] | ||||||||||||||
Lessor, Operating Lease, Term of Contract | 40 years | 40 years | ||||||||||||
Operating Lease, Late Payment Recovery Period | 5 years | |||||||||||||
Maximum | Buildings and Improvements | ||||||||||||||
Schedule Of Significant Accounting Policies [Line Items] | ||||||||||||||
Period of assets which are depreciated on straight line basis over their useful lives | 40 years | |||||||||||||
Maximum | Machinery and Equipment | ||||||||||||||
Schedule Of Significant Accounting Policies [Line Items] | ||||||||||||||
Period of assets which are depreciated on straight line basis over their useful lives | 12 years | |||||||||||||
Coal Royalty and Other | ||||||||||||||
Income Statement Impact of Adoption of New Revenue Standard | ||||||||||||||
Revenues and Revenue from Related Parties | $ 178,878 | |||||||||||||
Coal Royalty | ||||||||||||||
Balance Sheet Impact of Adoption of New Revenue Standard | ||||||||||||||
Accounts Receivable Net, Including Related Party Receivables | $ 29,001 | 29,001 | 25,443 | |||||||||||
Current portion of deferred revenue | 3,509 | 3,509 | 1,022 | |||||||||||
Deferred revenue | 49,044 | 49,044 | 33,992 | |||||||||||
Calculated under Revenue Guidance in Effect before Topic 606 | ||||||||||||||
Balance Sheet Impact of Adoption of New Revenue Standard | ||||||||||||||
Accounts Receivable Net, Including Related Party Receivables | 27,520 | $ 24,211 | 27,520 | $ 24,211 | ||||||||||
Assets | 1,337,109 | 1,337,109 | ||||||||||||
Current portion of deferred revenue | 0 | 0 | 0 | 0 | ||||||||||
Deferred revenue | 62,783 | 100,605 | 62,783 | 100,605 | ||||||||||
Liabilities | 766,744 | 766,744 | ||||||||||||
Common unitholders’ interest | 340,640 | 199,851 | 340,640 | 199,851 | ||||||||||
General partner's interest | 4,719 | 1,857 | 4,719 | 1,857 | ||||||||||
Partners' Capital | 408,713 | $ 265,211 | 408,713 | $ 265,211 | ||||||||||
Liabilities and Equity | 1,337,109 | 1,337,109 | ||||||||||||
Income Statement Impact of Adoption of New Revenue Standard | ||||||||||||||
Revenues and Revenue from Related Parties | 234,428 | |||||||||||||
Net income from continuing operations | 178,058 | |||||||||||||
Net income | $ 195,745 | |||||||||||||
Basic net income per common unit | $ 13.23 | |||||||||||||
Diluted net income per common unit | $ 9.46 | |||||||||||||
Difference between Revenue Guidance in Effect before and after Topic 606 | Accounting Standards Update 2014-09 | ||||||||||||||
Balance Sheet Impact of Adoption of New Revenue Standard | ||||||||||||||
Accounts Receivable Net, Including Related Party Receivables | 4,538 | $ 4,538 | 4,875 | |||||||||||
Assets | 4,538 | 4,538 | ||||||||||||
Current portion of deferred revenue | 3,509 | 3,509 | 1,022 | |||||||||||
Deferred revenue | (13,739) | (13,739) | (66,613) | |||||||||||
Liabilities | (10,230) | (10,230) | ||||||||||||
Common unitholders’ interest | 14,473 | 14,473 | 69,057 | |||||||||||
General partner's interest | 295 | 295 | 1,409 | |||||||||||
Partners' Capital | 14,768 | 14,768 | $ 70,466 | |||||||||||
Liabilities and Equity | 4,538 | 4,538 | ||||||||||||
Income Statement Impact of Adoption of New Revenue Standard | ||||||||||||||
Revenues and Revenue from Related Parties | (55,550) | |||||||||||||
Net income from continuing operations | (55,698) | |||||||||||||
Net income | $ (55,698) | |||||||||||||
Basic net income per common unit | $ (4.46) | |||||||||||||
Diluted net income per common unit | $ (2.70) | |||||||||||||
Lease Modifications of Existing Coal Royalty Leases [Member] | ||||||||||||||
Income Statement Impact of Adoption of New Revenue Standard | ||||||||||||||
Deferred Revenue, Additions | $ 7,200 | |||||||||||||
Settled Litigation [Member] | Lawsuit Against Hillsboro Energy LLC | ||||||||||||||
Income Statement Impact of Adoption of New Revenue Standard | ||||||||||||||
Loss Contingency, Forfeiture of Recoupable Lease Balance in Settlement | $ 37,400 | |||||||||||||
Settled Litigation [Member] | Lawsuit Against Hillsboro Energy LLC | Difference between Revenue Guidance in Effect before and after Topic 606 | ||||||||||||||
Income Statement Impact of Adoption of New Revenue Standard | ||||||||||||||
Loss Contingency, Forfeiture of Recoupable Lease Balance in Settlement | $ 33,400 |
Revenue from Contracts with C_3
Revenue from Contracts with Customers - Narrative (Details) - Royalty Leases $ in Millions | Dec. 31, 2018USD ($) |
Operating Leases, Future Minimum Payments, Due in Five Years | $ 1.8 |
Operating Leases, Future Minimum Payments, Due Thereafter | $ 1 |
Revenue from Contracts with C_4
Revenue from Contracts with Customers - Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 202,765 | ||||||||||
Revenues | $ 63,935 | $ 58,207 | $ 69,451 | $ 59,478 | $ 64,927 | $ 58,406 | $ 58,015 | $ 61,432 | 251,071 | $ 242,780 | $ 250,176 |
Coal Royalty and Other | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 178,878 | ||||||||||
Revenues | 178,394 | $ 158,399 | $ 144,520 | ||||||||
Coal Royalty and Other | Coal Royalty Revenue | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 129,341 | ||||||||||
Coal Royalty and Other | Production Lease Minimum Revenue | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 8,207 | ||||||||||
Coal Royalty and Other | Minimum Lease Straight-Line Revenue | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 2,362 | ||||||||||
Coal Royalty and Other | Wheelage Revenue | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 6,484 | ||||||||||
Coal Royalty and Other | Coal Overriding Royalty Revenue | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 13,878 | ||||||||||
Coal Royalty and Other | Aggregates Royalty Revenue | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 4,739 | ||||||||||
Coal Royalty and Other | Oil and Gas Royalty Revenue | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 6,608 | ||||||||||
Coal Royalty and Other | Property Tax Revenue | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 5,422 | ||||||||||
Coal Royalty and Other | Other Revenue | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 1,837 | ||||||||||
Coal Royalty and Other | Transportation and processing services | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 13,200 | ||||||||||
Revenues | 23,887 | ||||||||||
Coal Royalty and Other | Transportation and Processing | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Sales-type Lease, Revenue | $ 10,700 |
Revenue from Contracts with C_5
Revenue from Contracts with Customers - Contract Assets and Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 |
Revenue from External Customer [Line Items] | |||
Accounts Receivable Net, Including Related Party Receivables | $ 32,058 | $ 29,086 | |
Current portion of deferred revenue | 3,509 | $ 0 | |
Deferred revenue | 49,044 | $ 100,605 | |
Coal Royalty | |||
Revenue from External Customer [Line Items] | |||
Accounts Receivable Net, Including Related Party Receivables | 29,001 | 25,443 | |
Prepaid Expense and Other Assets | 2,483 | 2,830 | |
Current portion of deferred revenue | 3,509 | 1,022 | |
Deferred revenue | 49,044 | 33,992 | |
Accounting Standards Update 2014-09 | |||
Revenue from External Customer [Line Items] | |||
Accrued Fees and Other Revenue Receivable | 1,900 | $ 1,900 | |
Accounting Standards Update 2014-09 | Coal Royalty | |||
Revenue from External Customer [Line Items] | |||
Accrued Fees and Other Revenue Receivable | $ 4,430 |
Revenue from Contracts with C_6
Revenue from Contracts with Customers - Revenue Recognition Deferred Revenue Rollforward (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | |
Revenue Recognition, Multiple-deliverable Arrangements [Line Items] | ||||
Production Leases, Recoupment Recognized | $ 10,178 | |||
Deferred Revenue | $ 52,553 | 52,553 | $ 35,014 | $ 100,605 |
Deferred Revenue, Revenue Recognized | 20,242 | |||
Deferred Revenue, Contractual Minimum Payments | 5,592 | |||
Increase (Decrease) in Deferred Revenue and Customer Advances and Deposits | 32,189 | |||
Royalty Revenue Recognized | 7,169 | |||
Production Leases, Minimum Lease Revenue | 935 | |||
Deferred Revenue, Leases, Amortization | 1,960 | |||
Contract with Customer, Liability, Revenue Recognized | 20,242 | |||
Accounting Standards Update 2014-09 | ||||
Revenue Recognition, Multiple-deliverable Arrangements [Line Items] | ||||
Deferred revenue recognized in Partners' Capital | 67,500 | 67,500 | ||
Deferred Revenue | (65,591) | |||
Accrued Fees and Other Revenue Receivable | 1,900 | $ 1,900 | $ 1,900 | |
Lease Modifications of Existing Coal Royalty Leases [Member] | ||||
Revenue Recognition, Multiple-deliverable Arrangements [Line Items] | ||||
Deferred Revenue, Additions | $ 7,200 | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period | 6 years | 6 years |
Revenue from Contracts with C_7
Revenue from Contracts with Customers - Revenue Remaining Performance Obligation (Details) $ in Thousands | Dec. 31, 2018USD ($) |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01 | |
Revenue from Contract with Customer [Abstract] | |
Revenue, Remaining Performance Obligation, Amount | $ 13,072 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period | 7 months 6 days |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | |
Revenue from Contract with Customer [Abstract] | |
Revenue, Remaining Performance Obligation, Amount | $ 13,060 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period | 1 year 3 months 18 days |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01 | |
Revenue from Contract with Customer [Abstract] | |
Revenue, Remaining Performance Obligation, Amount | $ 41,202 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period | 9 years |
Discontinued Operations - Narra
Discontinued Operations - Narrative (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||
Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Jul. 31, 2016 | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||||
Gain on asset sales, net | $ 1,622 | $ 0 | $ 168 | $ 651 | $ 178 | $ 154 | $ 3,184 | $ 29 | $ 2,441 | $ 3,545 | $ 29,068 | ||
Discontinued Operations, Held-for-sale [Member] | |||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||||
Capital Expenditure, Discontinued Operations | 10,900 | 7,600 | 6,700 | ||||||||||
Disposal Group, Including Discontinued Operation, Consideration | 205,000 | 205,000 | $ 116,100 | ||||||||||
Gain on asset sales, net | 13,100 | $ 13,100 | |||||||||||
Floating Rate Revolving Credit Facility Due April Two Thousand Twenty [Member] | Opco | |||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||||
Debt Instrument, Asset Sales Proceeds, Required to Repay Outstanding Debt, Percent | 75.00% | ||||||||||||
Senior Notes | Opco | |||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||||
Debt Instrument, Asset Sales Proceeds, Required to Repay Outstanding Debt, Percent | 25.00% | ||||||||||||
Repayments of Debt | $ 80,700 | $ 80,800 | $ 82,900 | ||||||||||
Restricted Cash | $ 55,000 | $ 55,000 | |||||||||||
Subsequent Event | Senior Notes | Opco | |||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||||
Repayments of Debt | $ 49,000 |
Discontinued Operations - Summa
Discontinued Operations - Summary of Financial Results of Discontinued Operations (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Current assets: | ||||
Cash and cash equivalents | $ 0 | $ 2,847 | $ 1,200 | $ 11,529 |
Accounts receivable, net | 993 | 23,967 | ||
Inventory | 7,553 | |||
Prepaid expenses and other | 2,056 | |||
Total current assets of discontinued operations | 993 | 36,423 | ||
Noncurrent assets | ||||
Land | 1,239 | |||
Plant and equipment, net | 44,822 | |||
Mineral rights, net | 105,466 | |||
Intangible assets, net | 2,734 | |||
Other assets | 1,681 | |||
Total assets of discontinued operations | 993 | 192,365 | ||
Current liabilities: | ||||
Accounts payable (including affiliates) | 181 | 6,019 | ||
Accrued liabilities | 766 | 5,348 | ||
Other | 401 | |||
Total current liabilities of discontinued operations | 947 | 11,768 | ||
Noncurrent liabilities | ||||
Other non-current liabilities | 2,220 | |||
Total liabilities of discontinued operations | 947 | 13,988 | ||
Discontinued Operations, Held-for-sale [Member] | ||||
Revenues and other income: | ||||
Construction aggregates | 116,066 | 112,970 | 103,755 | |
Road construction and asphalt paving services | 18,400 | 18,411 | 17,047 | |
Oil and gas | (3) | 38 | 16,486 | |
Gain on asset sales, net | 13,414 | 22 | 8,287 | |
Total revenues and other income | 147,877 | 131,441 | 145,575 | |
Operating expenses | ||||
Operating and maintenance expenses (including affiliates) | 117,702 | 111,923 | 112,159 | |
Depreciation, depletion and amortization | 12,218 | 12,579 | 22,033 | |
Asset impairments | 232 | 64 | 1,629 | |
Total operating expenses | 130,152 | 124,566 | 135,821 | |
Interest expense, net | 38 | 693 | 3,488 | |
Income (loss) from discontinued operations | 17,687 | 6,182 | 6,266 | |
Disposal Group, Including Discontinued Operation, Additional Disclosures [Abstract] | ||||
Cash paid for interest | 0 | 0 | 1,906 | |
Plant, equipment and mineral rights funded with accounts payable or accrued liabilities | 881 | 294 | 0 | |
NRP Oil and Gas [Domain] | ||||
Current assets: | ||||
Cash and cash equivalents | 0 | |||
Accounts receivable, net | 988 | 991 | ||
Inventory | 0 | |||
Prepaid expenses and other | 0 | |||
Total current assets of discontinued operations | 991 | |||
Noncurrent assets | ||||
Land | 0 | |||
Plant and equipment, net | 0 | |||
Mineral rights, net | 0 | |||
Intangible assets, net | 0 | |||
Other assets | 0 | |||
Total assets of discontinued operations | 988 | 991 | ||
Current liabilities: | ||||
Accounts payable (including affiliates) | 0 | 0 | ||
Accrued liabilities | 0 | 0 | ||
Other | 401 | |||
Total current liabilities of discontinued operations | 401 | |||
Noncurrent liabilities | ||||
Other non-current liabilities | 0 | |||
Total liabilities of discontinued operations | 0 | 401 | ||
Construction Aggregates | ||||
Current assets: | ||||
Cash and cash equivalents | 2,847 | |||
Accounts receivable, net | 5 | 22,976 | ||
Inventory | 7,553 | |||
Prepaid expenses and other | 2,056 | |||
Total current assets of discontinued operations | 35,432 | |||
Noncurrent assets | ||||
Land | 1,239 | |||
Plant and equipment, net | 44,822 | |||
Mineral rights, net | 105,466 | |||
Intangible assets, net | 2,734 | |||
Other assets | 1,681 | |||
Total assets of discontinued operations | 5 | 191,374 | ||
Current liabilities: | ||||
Accounts payable (including affiliates) | 181 | 6,019 | ||
Accrued liabilities | 766 | 5,348 | ||
Other | 0 | |||
Total current liabilities of discontinued operations | 11,367 | |||
Noncurrent liabilities | ||||
Other non-current liabilities | 2,220 | |||
Total liabilities of discontinued operations | 947 | 13,587 | ||
NRP Oil and Gas [Domain] | Discontinued Operations, Held-for-sale [Member] | ||||
Revenues and other income: | ||||
Construction aggregates | 0 | 0 | 0 | |
Road construction and asphalt paving services | 0 | 0 | 0 | |
Oil and gas | (3) | 38 | 16,486 | |
Gain on asset sales, net | 0 | (289) | 8,274 | |
Total revenues and other income | (3) | (251) | 24,760 | |
Operating expenses | ||||
Operating and maintenance expenses (including affiliates) | 134 | 290 | 11,503 | |
Depreciation, depletion and amortization | 0 | 0 | 7,527 | |
Asset impairments | 0 | 0 | 564 | |
Total operating expenses | 134 | 290 | 19,594 | |
Interest expense, net | 0 | 3,488 | ||
Income (loss) from discontinued operations | (137) | (541) | 1,678 | |
Construction Aggregates | Discontinued Operations, Held-for-sale [Member] | ||||
Revenues and other income: | ||||
Construction aggregates | 116,066 | 112,970 | 103,755 | |
Road construction and asphalt paving services | 18,400 | 18,411 | 17,047 | |
Oil and gas | 0 | 0 | 0 | |
Gain on asset sales, net | 13,414 | 311 | 13 | |
Total revenues and other income | 147,880 | 131,692 | 120,815 | |
Operating expenses | ||||
Operating and maintenance expenses (including affiliates) | 117,568 | 111,633 | 100,656 | |
Depreciation, depletion and amortization | 12,218 | 12,579 | 14,506 | |
Asset impairments | 232 | 64 | 1,065 | |
Total operating expenses | 130,018 | 124,276 | 116,227 | |
Interest expense, net | 38 | 693 | 0 | |
Income (loss) from discontinued operations | $ 17,824 | $ 6,723 | $ 4,588 |
Class A Convertible Preferred_3
Class A Convertible Preferred Units and Warrants - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands | Mar. 02, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Class of Stock [Line Items] | ||||
Preferred units issued (in shares) | 250,000 | 258,844 | ||
Preferred unit purchase price | $ 1,000 | $ 1,000 | ||
Class A Convertible Preferred Units | ||||
Class of Stock [Line Items] | ||||
Dividends, Preferred Stock, Paid-in-Kind, Cash Redemption Payment | $ 8,844 | $ 0 | $ 0 | |
Preferred units issued (in shares) | 250,000 | |||
Preferred unit purchase price | $ 1,000 | |||
Preferred Units, Origination Fee, Percent | 2.50% | |||
Dividend rate (as a percent) | 12.00% | |||
Convertible Preferred Units, Redemption Price, Minimum | $ 51 | |||
Convertible Preferred Units, Maximum Redeemed Units, Percent | 33.00% | |||
Debt Instrument, Covenants, Consolidated Leverage Ratio, Minimum | 3.25 | |||
Debt Instrument, Covenants, Distributable Cash Flow Ratio, Maximum | 1.2 | |||
Distribution amount (in dollars per share) | $ 0.45 | |||
Purchaser approval rights threshold (as a percent) | 20.00% | |||
Warrants at $22.81 Strike | Warrant Holders | ||||
Class of Stock [Line Items] | ||||
Class of Warrant or Right, Warrants Issued | 1,750,000 | |||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 22.81 | |||
Warrants at $34.00 Strike | Warrant Holders | ||||
Class of Stock [Line Items] | ||||
Class of Warrant or Right, Warrants Issued | 2,250,000 | 2,250,000 | ||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 34 | $ 34 | ||
Debt Instrument, Redemption, Period One | Class A Convertible Preferred Units | ||||
Class of Stock [Line Items] | ||||
Convertible Preferred Units, Conversion to Common Units, Discount Percentage | 7.50% | |||
Convertible Preferred Units, Purchase Price Multiplier | 1.50 | |||
Debt Instrument, Redemption, Period Two | Class A Convertible Preferred Units | ||||
Class of Stock [Line Items] | ||||
Convertible Preferred Units, Purchase Price Multiplier | 1.70 | |||
Debt Instrument, Redemption, Period Three | Class A Convertible Preferred Units | ||||
Class of Stock [Line Items] | ||||
Convertible Preferred Units, Conversion to Common Units, Discount Percentage | 10.00% | |||
Convertible Preferred Units, Purchase Price Multiplier | 1.85 | |||
Preferred Stock | ||||
Class of Stock [Line Items] | ||||
Transaction price, gross | $ 250,000 | |||
Preferred Partner | Preferred Stock | ||||
Class of Stock [Line Items] | ||||
Temporary Equity, Stock Issued During Period, Shares, New Issues | 250,000 |
Class A Convertible Preferred_4
Class A Convertible Preferred Units and Warrants - Preferred Units and Warrants Issued (Details) - USD ($) $ in Thousands | Mar. 02, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Class of Stock [Line Items] | ||||
Distribution paid-in-kind (in shares) | 8,844 | |||
Warrant holders interest | $ 66,816 | $ 66,816 | $ 66,816 | |
Dividends, Preferred Stock, Paid-in-kind | 8,844 | |||
Class A Convertible Preferred Units (250,000 and 258,844 units issued and outstanding at December 31, 2018 and 2017, respectively, at $1,000 par value per unit; liquidation preference of $1,500 per unit) | $ 164,587 | $ 173,431 | ||
Distribution Made to Limited Partner, Unit Redemption | (8,844) | |||
Preferred Stock | ||||
Class of Stock [Line Items] | ||||
Transaction price, gross | 250,000 | |||
Structuring, origination and other fees to Preferred Purchasers | (7,900) | |||
Payments of Stock Issuance Costs | 10,697 | |||
Transaction price, net | 231,403 | |||
Preferred Partner | Preferred Stock | ||||
Class of Stock [Line Items] | ||||
Preferred Units, net | $ 164,587 | |||
Temporary Equity, Shares Outstanding | 250,000 | 258,844 | 0 | |
Class A Convertible Preferred Units (250,000 and 258,844 units issued and outstanding at December 31, 2018 and 2017, respectively, at $1,000 par value per unit; liquidation preference of $1,500 per unit) | $ 164,587 | $ 173,431 | $ 0 | |
Temporary Equity, Stock Issued During Period, Shares, New Issues | 250,000 | |||
Class A Convertible Preferred Units | ||||
Class of Stock [Line Items] | ||||
Dividends, Preferred Stock, Paid-in-Kind, Cash Redemption Payment | $ (8,844) | $ 0 | $ 0 |
Common and Preferred Unit Dis_3
Common and Preferred Unit Distributions Narrative (Details) - USD ($) $ in Thousands | Mar. 02, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Temporary Equity [Line Items] | ||||
Income attributable to preferred unitholders | $ 30,000 | $ 25,453 | $ 0 | |
Class A Convertible Preferred Units | ||||
Temporary Equity [Line Items] | ||||
Dividend rate (as a percent) | 12.00% | |||
Dividends, Preferred Stock, Paid-in-Kind, Cash Redemption Payment | $ 8,844 | $ 0 | $ 0 | |
General Partner | ||||
Temporary Equity [Line Items] | ||||
Limited Liability Company or Limited Partnership, Members or Limited Partners, Ownership Interest | 2.00% |
Common and Preferred Unit Dis_4
Common and Preferred Unit Distributions Schedule of Distributions Paid (Details) - USD ($) $ / shares in Units, $ in Thousands | Nov. 14, 2018 | Aug. 14, 2018 | May 14, 2018 | Feb. 14, 2018 | Feb. 07, 2018 | Nov. 29, 2017 | Nov. 14, 2017 | Aug. 29, 2017 | Aug. 14, 2017 | May 30, 2017 | May 12, 2017 | Feb. 14, 2017 | Nov. 14, 2016 | Aug. 12, 2016 | May 13, 2016 | Feb. 12, 2016 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Feb. 14, 2019 |
Class of Stock [Line Items] | ||||||||||||||||||||
Distribution paid-in-kind (in shares) | 8,844 | |||||||||||||||||||
Common unitholders and general partner | ||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||
Distributions per common unit (in dollars per share) | $ 0.45 | $ 0.45 | $ 0.45 | $ 0.45 | $ 0.45 | $ 0.45 | $ 0.45 | $ 0.45 | $ 0.45 | $ 0.45 | $ 0.45 | $ 0.45 | ||||||||
Total distributions paid | $ 5,623 | $ 5,623 | $ 5,623 | $ 5,617 | $ 5,617 | $ 5,616 | $ 5,619 | $ 5,615 | $ 5,616 | $ 5,617 | $ 5,616 | $ 5,616 | $ 22,486 | $ 22,467 | $ 22,465 | |||||
Common unitholders | ||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||
Distributions to common unitholders and general partner | 5,510 | 5,511 | 5,510 | 5,505 | 5,505 | 5,504 | 5,506 | 5,503 | 5,503 | 5,505 | 5,503 | 5,503 | ||||||||
General Partner | ||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||
Distributions to common unitholders and general partner | 22,486 | 22,467 | 22,465 | |||||||||||||||||
Distributions paid to general partners | $ 113 | $ 112 | $ 113 | $ 112 | $ 112 | $ 112 | $ 113 | $ 112 | $ 113 | $ 112 | $ 113 | $ 113 | ||||||||
Preferred Partner | ||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||
Distributions to common unitholders and general partner | 30,265 | 8,844 | $ 0 | |||||||||||||||||
Total distributions paid | $ 30,265 | $ 17,688 | ||||||||||||||||||
Preferred Partner | Preferred Stock | ||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||
Distributions per common unit (in dollars per share) | $ 30 | $ 30 | $ 30 | $ 30 | $ 15 | $ 15 | $ 5 | |||||||||||||
Total Distributions Declared | $ 7,500 | $ 7,500 | $ 7,500 | $ 7,765 | $ 7,650 | $ 7,538 | $ 2,500 | |||||||||||||
Subsequent Event | Preferred Partner | Preferred Stock | ||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||
Total Distributions Declared | $ 7,500 |
Net Income Per Common Unit (Det
Net Income Per Common Unit (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | Mar. 02, 2017 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Net income attributable to common unitholders and general partner | $ 41,558 | $ 21,400 | $ 29,741 | $ 16,838 | $ 22,942 | $ 18,416 | $ 18,452 | $ 3,404 | $ 109,537 | $ 63,214 | $ 96,892 | |
Allocation of net income: | ||||||||||||
Net income from continuing operations | 35,092 | 25,853 | 35,129 | 26,286 | 28,665 | 23,079 | 23,153 | 7,588 | 122,360 | 82,485 | 90,626 | |
Net income attributable to non-controlling interest | (510) | 0 | 0 | |||||||||
Diluted Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | 121,850 | 82,485 | 90,626 | |||||||||
Net Income (Loss) Allocated to General Partners and Limited Partners, Diluted | 139,537 | 88,667 | 96,892 | |||||||||
Less: income attributable to preferred unitholders | (30,000) | (25,453) | 0 | |||||||||
Income (Loss) from Continuing Operations and Income Attributable to Preferred Unitholders, Including Portion Attributable to Noncontrolling Interest, Allocated to General Partner and Limited Partners | 91,850 | 57,032 | 90,626 | |||||||||
Less: net income from continuing operations attributable to the general partner | (1,837) | (1,141) | (1,537) | |||||||||
Net income from continuing operations attributable to common unitholders | 90,013 | 55,891 | 89,089 | |||||||||
Income from discontinued operations | 13,966 | 2,688 | 2,981 | (1,948) | 2,042 | 2,987 | 2,837 | (1,684) | 17,687 | 6,182 | 6,266 | |
Less: net income from discontinued operations attributable to the general partner | (354) | (123) | (126) | |||||||||
Net income from discontinued operations attributable to common unitholders | 17,333 | 6,059 | 6,140 | |||||||||
Net income | 49,058 | 28,541 | 38,110 | 24,338 | $ 30,707 | $ 26,066 | $ 25,990 | $ 5,904 | 140,047 | 88,667 | 96,892 | |
Net income (loss) | $ 49,058 | $ 28,900 | $ 37,241 | $ 24,338 | 139,537 | 88,667 | 96,892 | |||||
Net income attributable to the general partner | (2,191) | (1,264) | (1,663) | |||||||||
Net income attributable to common unitholders | $ 107,346 | $ 61,950 | $ 95,229 | |||||||||
Weighted average common units—basic (in shares) | 12,247 | 12,246 | 12,246 | 12,238 | 12,232 | 12,232 | 12,232 | 12,232 | 12,244 | 12,232 | 12,232 | |
Basic net income from continuing operations per common unit | $ 2.21 | $ 1.50 | $ 2.14 | $ 1.50 | $ 1.67 | $ 1.24 | $ 1.25 | $ 0.41 | $ 7.35 | $ 4.57 | $ 7.28 | |
Basic net income from discontinued operations per common unit | 1.42 | 0.50 | 0.50 | |||||||||
Basic net income per common unit | $ 3.33 | $ 1.71 | $ 2.38 | $ 1.35 | $ 1.84 | $ 1.48 | $ 1.47 | $ 0.28 | $ 8.77 | $ 5.06 | $ 7.78 | |
Dilutive effect of Warrants (in shares) | 511 | 300 | 0 | |||||||||
Dilutive effect of Preferred Units (in shares) | 7,479 | 9,418 | 0 | |||||||||
Weighted average common units—diluted (in shares) | 20,394 | 21,840 | 21,383 | 22,125 | 23,874 | 23,980 | 22,459 | 14,945 | 20,234 | 21,950 | 12,232 | |
Less: net income from continuing operations attributable to the general partner | $ (2,437) | $ (1,650) | $ (1,537) | |||||||||
Diluted net income from continuing operations attributable to common unitholders | 119,413 | 80,835 | 89,089 | |||||||||
Diluted net income from discontinued operations attributable to common unitholders | 17,333 | 6,059 | 6,140 | |||||||||
Less: diluted net income attributable to the general partner | (2,791) | (1,773) | (1,663) | |||||||||
Diluted net income attributable to common unitholders | $ 136,746 | $ 86,894 | $ 95,229 | |||||||||
Diluted net income from continuing operations per common unit | $ 1.69 | $ 1.18 | $ 1.57 | $ 1.16 | $ 1.18 | $ 0.94 | $ 1.01 | $ 0.50 | $ 5.90 | $ 3.68 | $ 7.28 | |
Diluted net income from discontinued operations per common unit | 0.86 | 0.28 | 0.50 | |||||||||
Diluted net income per common unit | 2.36 | $ 1.30 | $ 1.71 | $ 1.08 | $ 1.26 | $ 1.07 | $ 1.13 | $ 0.28 | $ 6.76 | $ 3.96 | $ 7.78 | |
Warrant Holders | Warrants at $22.81 Strike | ||||||||||||
Class of Warrant or Right, Warrants Issued | 1,750 | |||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 22.81 | |||||||||||
Warrant Holders | Warrants at $34.00 Strike | ||||||||||||
Class of Warrant or Right, Warrants Issued | 2,250 | 2,250 | ||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 34 | $ 34 | $ 34 |
Segment Information - Additiona
Segment Information - Additional Information (Details) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||||||
Dec. 31, 2018USD ($) | Sep. 30, 2018USD ($) | Jun. 30, 2018USD ($) | Mar. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Sep. 30, 2017USD ($) | Jun. 30, 2017USD ($) | Mar. 31, 2017USD ($) | Dec. 31, 2018USD ($)segment | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Jul. 31, 2016USD ($) | Jul. 31, 2013 | Jan. 31, 2013 | |
Segment Reporting Information [Line Items] | ||||||||||||||
Number of operating segments | segment | 2 | |||||||||||||
Gain on asset sales, net | $ 1,622 | $ 0 | $ 168 | $ 651 | $ 178 | $ 154 | $ 3,184 | $ 29 | $ 2,441 | $ 3,545 | $ 29,068 | |||
Ciner Wyoming | ||||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||||
Percentage of partnership interest owned (percent) | 49.00% | 49.00% | 49.00% | 48.51% | ||||||||||
Discontinued Operations, Held-for-sale | ||||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||||
Disposal Group, Including Discontinued Operation, Consideration | $ 205,000 | $ 205,000 | $ 116,100 | |||||||||||
Gain on asset sales, net | $ 13,100 | $ 13,100 |
Segment Information - Schedule
Segment Information - Schedule of Segment Reporting Information, by Segment (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Segment Reporting Information [Line Items] | |||||||||||
Gain on asset sales, net | $ 1,622 | $ 0 | $ 168 | $ 651 | $ 178 | $ 154 | $ 3,184 | $ 29 | $ 2,441 | $ 3,545 | $ 29,068 |
Operating and maintenance expenses (including affiliates) | 29,509 | 24,883 | 29,890 | ||||||||
General and administrative (including affiliates) | 16,496 | 18,502 | 20,570 | ||||||||
Depreciation, depletion and amortization (including affiliates) | 21,689 | 23,414 | 31,766 | ||||||||
Asset impairments | 18,038 | 0 | 0 | 242 | 1,189 | 0 | 0 | 1,778 | 18,280 | 2,967 | 15,861 |
Other expense, net | 70,178 | 94,074 | 90,531 | ||||||||
Net income from continuing operations | 35,092 | 25,853 | 35,129 | 26,286 | 28,665 | 23,079 | 23,153 | 7,588 | 122,360 | 82,485 | 90,626 |
Net income (loss) from discontinued operations | 17,687 | ||||||||||
Income from discontinued operations | 13,966 | 2,688 | 2,981 | (1,948) | 2,042 | 2,987 | 2,837 | (1,684) | 17,687 | 6,182 | 6,266 |
Capital expenditures | 5 | ||||||||||
Total assets | 1,341,647 | 1,389,164 | 1,341,647 | 1,389,164 | |||||||
Revenues | 63,935 | 58,207 | 69,451 | 59,478 | 64,927 | $ 58,406 | $ 58,015 | $ 61,432 | 251,071 | 242,780 | 250,176 |
Gain on litigation settlement | 25,000 | $ 0 | $ 0 | $ 0 | 25,000 | 0 | 0 | ||||
Corporate and Financing | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Gain on asset sales, net | 0 | 0 | 0 | ||||||||
Operating and maintenance expenses (including affiliates) | 0 | 0 | 0 | ||||||||
General and administrative (including affiliates) | 16,496 | 18,502 | 20,570 | ||||||||
Depreciation, depletion and amortization (including affiliates) | 0 | 0 | 0 | ||||||||
Asset impairments | 0 | 0 | 0 | ||||||||
Other expense, net | 70,178 | 94,074 | 90,531 | ||||||||
Net income from continuing operations | (86,674) | (112,576) | (111,101) | ||||||||
Net income (loss) from discontinued operations | 0 | 0 | 0 | ||||||||
Capital expenditures | 0 | ||||||||||
Revenues | 0 | 0 | 0 | ||||||||
Gain on litigation settlement | 0 | ||||||||||
Coal Royalty and Other | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 178,394 | 158,399 | 144,520 | ||||||||
Coal Royalty and Other | Operating Segments | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Gain on asset sales, net | 2,441 | 3,545 | 29,068 | ||||||||
Operating and maintenance expenses (including affiliates) | 29,509 | 24,883 | 29,890 | ||||||||
General and administrative (including affiliates) | 0 | 0 | 0 | ||||||||
Depreciation, depletion and amortization (including affiliates) | 21,689 | 23,414 | 31,766 | ||||||||
Asset impairments | 18,280 | 2,967 | 15,861 | ||||||||
Other expense, net | 0 | 0 | 0 | ||||||||
Net income from continuing operations | 160,728 | 154,604 | 161,666 | ||||||||
Net income (loss) from discontinued operations | 0 | 0 | 0 | ||||||||
Capital expenditures | 5 | ||||||||||
Revenues | 202,765 | 202,323 | 210,115 | ||||||||
Gain on litigation settlement | 25,000 | ||||||||||
Soda Ash | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 48,306 | 40,457 | 40,061 | ||||||||
Soda Ash | Operating Segments | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Gain on asset sales, net | 0 | 0 | 0 | ||||||||
Operating and maintenance expenses (including affiliates) | 0 | 0 | 0 | ||||||||
General and administrative (including affiliates) | 0 | 0 | 0 | ||||||||
Depreciation, depletion and amortization (including affiliates) | 0 | 0 | 0 | ||||||||
Asset impairments | 0 | 0 | 0 | ||||||||
Other expense, net | 0 | 0 | 0 | ||||||||
Net income from continuing operations | 48,306 | 40,457 | 40,061 | ||||||||
Net income (loss) from discontinued operations | 0 | 0 | 0 | ||||||||
Capital expenditures | 0 | ||||||||||
Revenues | 48,306 | 40,457 | $ 40,061 | ||||||||
Gain on litigation settlement | 0 | ||||||||||
Continuing Operations | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Total assets | 1,340,654 | 1,196,799 | 1,340,654 | 1,196,799 | |||||||
Continuing Operations | Corporate and Financing | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Total assets | 106,923 | 6,129 | 106,923 | 6,129 | |||||||
Continuing Operations | Coal Royalty and Other | Operating Segments | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Total assets | 986,680 | 945,237 | 986,680 | 945,237 | |||||||
Continuing Operations | Soda Ash | Operating Segments | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Total assets | 247,051 | 245,433 | 247,051 | 245,433 | |||||||
Discontinued Operations | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Total assets | 993 | 192,365 | 993 | 192,365 | |||||||
Discontinued Operations | Corporate and Financing | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Total assets | 0 | 0 | 0 | 0 | |||||||
Discontinued Operations | Coal Royalty and Other | Operating Segments | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Total assets | 0 | 0 | 0 | 0 | |||||||
Discontinued Operations | Soda Ash | Operating Segments | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Total assets | $ 0 | $ 0 | $ 0 | $ 0 |
Equity Investment - Additional
Equity Investment - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | |||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Jul. 31, 2013 | Jan. 31, 2013 | |
Schedule of Equity Method Investments [Line Items] | ||||||
Equity Method Investments | $ 247,051 | $ 245,433 | ||||
Comprehensive income (loss) from unconsolidated investment | $ 139,898 | 87,020 | $ 97,378 | |||
Weighted average useful life of assets (in years) | 28 years | |||||
Ciner Wyoming | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Equity Method Investments | $ 247,051 | 245,433 | 255,901 | $ 261,942 | ||
Income allocation to NRP’s equity interests | 53,095 | 44,846 | 44,882 | |||
Amortization of basis difference | (4,789) | (4,389) | (4,821) | |||
Comprehensive income (loss) from unconsolidated investment | (138) | (1,925) | 448 | |||
Distribution | $ (46,550) | (49,000) | (46,550) | |||
Ciner Wyoming | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Percentage of partnership interest owned (percent) | 49.00% | 49.00% | 48.51% | |||
Reclassification of accumulated other comprehensive loss to income allocation | $ 500 | 700 | $ 900 | |||
Increase in fair value of property, plant and equipment | $ 140,800 | $ 145,600 |
Equity Investment - Schedule o
Equity Investment - Schedule of Summarized Financial Information of Unaudited Financial Statements (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Schedule of Equity Method Investments [Line Items] | |||||||
Sales | $ 48,306 | $ 40,457 | $ 40,061 | ||||
Net income | $ 49,058 | $ 28,900 | $ 37,241 | $ 24,338 | 139,537 | 88,667 | 96,892 |
Current assets | 242,543 | 242,543 | 91,396 | ||||
Current liabilities | 148,746 | 148,746 | 120,549 | ||||
Ciner Wyoming | |||||||
Schedule of Equity Method Investments [Line Items] | |||||||
Sales | 486,759 | 497,340 | 475,187 | ||||
Gross profit | 104,053 | 114,202 | 114,232 | ||||
Net income | 108,357 | 91,523 | $ 91,596 | ||||
Current assets | 138,080 | 138,080 | 180,433 | ||||
Noncurrent assets | 252,743 | 252,743 | 228,002 | ||||
Current liabilities | 64,012 | 64,012 | 56,219 | ||||
Noncurrent liabilities | $ 109,921 | $ 109,921 | $ 148,401 |
Plant and Equipment, Net (Detai
Plant and Equipment, Net (Detail) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Property, Plant and Equipment [Abstract] | ||
Plant and equipment at cost | $ 6,865 | $ 6,865 |
Less: accumulated depreciation | (5,881) | (5,517) |
Total plant and equipment, net | $ 984 | $ 1,348 |
Plant and Equipment, Net - Addi
Plant and Equipment, Net - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Property, Plant and Equipment [Line Items] | |||||||||||
Depreciation expense on plant and equipment | $ 400 | $ 400 | $ 800 | ||||||||
Asset impairments | $ 18,038 | $ 0 | $ 0 | $ 242 | $ 1,189 | $ 0 | $ 0 | $ 1,778 | $ 18,280 | $ 2,967 | 15,861 |
Property, Plant and Equipment | |||||||||||
Property, Plant and Equipment [Line Items] | |||||||||||
Asset impairments | $ 2,000 |
Mineral Rights, Net (Detail)
Mineral Rights, Net (Detail) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Carrying Value | $ 1,215,318 | $ 1,233,609 |
Accumulated Depletion | (472,206) | (455,190) |
Net Book Value | 743,112 | 778,419 |
Coal Mineral Rights | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Carrying Value | 1,164,845 | 1,170,104 |
Accumulated Depletion | (451,210) | (436,964) |
Net Book Value | 713,635 | 733,140 |
Aggregate Mineral Rights | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Carrying Value | 24,920 | 37,942 |
Accumulated Depletion | (11,814) | (9,602) |
Net Book Value | 13,106 | 28,340 |
Oil And Gas Mineral Rights | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Carrying Value | 12,395 | 12,395 |
Accumulated Depletion | (7,632) | (7,158) |
Net Book Value | 4,763 | 5,237 |
Other Mineral Rights | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Carrying Value | 13,158 | 13,168 |
Accumulated Depletion | (1,550) | (1,466) |
Net Book Value | $ 11,608 | $ 11,702 |
Mineral Rights, Net - Additiona
Mineral Rights, Net - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Proceeds from sale of assets | $ (2,449) | $ (1,151) | $ (62,117) | ||||||||
Gain (loss) on asset sales | $ 1,622 | $ 0 | $ 168 | $ 651 | $ 178 | $ 154 | $ 3,184 | $ 29 | 2,441 | 3,545 | 29,068 |
Total depletion and amortization expense on mineral interests | 17,000 | 20,100 | 27,800 | ||||||||
Appalachian Basin | |||||||||||
Proceeds from sale of assets | 36,400 | ||||||||||
Gain (loss) on asset sales | 18,600 | ||||||||||
Texas, Georgia, Tennessee | |||||||||||
Gain (loss) on asset sales | 1,500 | ||||||||||
Proceeds from Sale of Hard Mineral Reserves | 10,000 | ||||||||||
Other Mineral Rights | |||||||||||
Proceeds from sale of assets | 2,400 | (1,000) | (17,300) | ||||||||
Gain (loss) on asset sales | $ 2,400 | $ 3,500 | $ 8,600 |
Mineral Rights, Net Schedule of
Mineral Rights, Net Schedule of Impairment Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Property, Plant and Equipment [Line Items] | |||||||||||||
Asset impairments | $ 18,038 | $ 0 | $ 0 | $ 242 | $ 1,189 | $ 0 | $ 0 | $ 1,778 | $ 18,280 | $ 2,967 | $ 15,861 | ||
Coal Mineral Rights | |||||||||||||
Property, Plant and Equipment [Line Items] | |||||||||||||
Asset impairments | 5,000 | $ 8,200 | $ 3,800 | 5,259 | 595 | 12,088 | |||||||
Fair value of impaired assets | 0 | $ 0 | $ 4,000 | 0 | 0 | ||||||||
Oil And Gas Mineral Rights | |||||||||||||
Property, Plant and Equipment [Line Items] | |||||||||||||
Asset impairments | 0 | 0 | 36 | ||||||||||
Mining Properties and Mineral Rights | |||||||||||||
Property, Plant and Equipment [Line Items] | |||||||||||||
Asset impairments | 18,280 | 2,967 | 13,801 | ||||||||||
Aggregate Mineral Rights | |||||||||||||
Property, Plant and Equipment [Line Items] | |||||||||||||
Asset impairments | 13,021 | 13,021 | $ 2,372 | $ 1,677 | |||||||||
Fair value of impaired assets | $ 2,300 | $ 2,300 |
Intangible Assets, Net - Intang
Intangible Assets, Net - Intangible Assets (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Finite-Lived Intangible Assets [Line Items] | ||
Amortization of Intangible Assets | $ 4,300 | $ 2,000 |
Finite-Lived Intangible Assets, Gross | 81,109 | 81,109 |
Less accumulated amortization | (38,596) | (34,289) |
Total intangible assets, net | $ 42,513 | $ 46,820 |
Intangible Assets, Net - Estima
Intangible Assets, Net - Estimated Amortization Expense (Detail) $ in Thousands | Dec. 31, 2018USD ($) |
Goodwill and Intangible Assets Disclosure [Abstract] | |
2,019 | $ 3,251 |
2,020 | 3,741 |
2,021 | 3,660 |
2,022 | 3,636 |
2,023 | $ 3,602 |
Intangible Assets, Net - Addit
Intangible Assets, Net - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Intangible Assets [Line Items] | |||
Amortization expense—affiliate | $ 0 | $ 1,008 | $ 3,185 |
Amortization expense | $ 4,300 | $ 2,000 | |
Contractual Rights | |||
Intangible Assets [Line Items] | |||
Remaining amortization period for intangibles (in years) | 16 years |
Debt, Net - Debt (Detail)
Debt, Net - Debt (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Mar. 02, 2017 | |
Debt Instrument [Line Items] | |||
Senior Note issue percentage | 98.75% | ||
Principal balance | $ 687,138,000 | $ 827,844,000 | |
Net unamortized debt discount | (1,266,000) | (1,661,000) | |
Net unamortized debt issuance costs | (13,114,000) | (16,835,000) | |
Total debt | 672,758,000 | 809,348,000 | |
Less - current portion of long term debt | 115,184,000 | 79,740,000 | |
Total long-term debt, net | 557,574,000 | 729,608,000 | |
NRP LP | 10.5% senior notes, with semi-annual interest payments in March and September, maturing March 2022 [Member] | |||
Debt Instrument [Line Items] | |||
Principal balance | $ 345,638,000 | 345,638,000 | |
NRP LP | Senior Notes Due Two Zero Two Two [Member] | |||
Debt Instrument [Line Items] | |||
Interest rate | 10.50% | ||
Senior Notes, Face Amount | $ 345,638,000 | ||
NRP LP | 9.125% senior notes, with semi-annual interest payments in April and October, maturing October 2018 | |||
Debt Instrument [Line Items] | |||
Interest rate | 9.125% | ||
Senior Notes, Face Amount | $ 425,000,000 | ||
Opco | Floating Rate Revolving Credit Facility Due April Two Thousand Twenty [Member] | |||
Debt Instrument [Line Items] | |||
Floating rate revolving credit facility | 100,000,000 | ||
Principal balance | $ 0 | 60,000,000 | |
Opco | 4.91% senior notes, with semi-annual interest payments in June and December, with annual principal payments in June, maturing in June 2018 | |||
Debt Instrument [Line Items] | |||
Interest rate | 4.91% | ||
Principal balance | $ 0 | 4,586,000 | |
Opco | 8.38% senior notes, with semi-annual interest payments in March and September, with annual principal payments in March, maturing in March 2019 [Member] | |||
Debt Instrument [Line Items] | |||
Interest rate | 8.38% | ||
Principal balance | $ 21,319,000 | 42,670,000 | |
Opco | 5.05% senior notes, with semi-annual interest payments in January and July, with annual principal payments in July, maturing in July 2020 [Member] | |||
Debt Instrument [Line Items] | |||
Interest rate | 5.05% | ||
Principal balance | $ 15,290,000 | 22,946,000 | |
Opco | 5.55% senior notes, with semi-annual interest payments in June and December, with annual principal payments in June, maturing in June 2023 [Member] | |||
Debt Instrument [Line Items] | |||
Interest rate | 5.55% | ||
Principal balance | $ 13,414,000 | 16,115,000 | |
Opco | 4.73% senior notes, with semi-annual interest payments in June and December, with scheduled principal payments beginning December 2014, maturing in December 2023 [Member] | |||
Debt Instrument [Line Items] | |||
Interest rate | 4.73% | ||
Principal balance | $ 37,195,000 | 44,693,000 | |
Opco | 5.82% senior notes, with semi-annual interest payments in March and September, with annual principal payments in March, maturing in March 2024 [Member] | |||
Debt Instrument [Line Items] | |||
Interest rate | 5.82% | ||
Principal balance | $ 89,529,000 | 104,520,000 | |
Opco | 8.92% senior notes, with semi-annual interest payments in March and September, with scheduled principal payments beginning March 2014, maturing in March 2024 [Member] | |||
Debt Instrument [Line Items] | |||
Interest rate | 8.92% | ||
Principal balance | $ 27,185,000 | 31,733,000 | |
Opco | 5.03% senior notes, with semi-annual interest payments in June and December, with scheduled principal payments beginning December 2014, maturing in December 2026 [Member] | |||
Debt Instrument [Line Items] | |||
Interest rate | 5.03% | ||
Principal balance | $ 107,013,000 | 120,547,000 | |
Opco | 5.18% senior notes, with semi-annual interest payments in June and December, with scheduled principal payments beginning December 2014, maturing in December 2026 [Member] | |||
Debt Instrument [Line Items] | |||
Interest rate | 5.18% | ||
Principal balance | $ 30,555,000 | 34,396,000 | |
Opco | Utility Local Improvement Obligation Due March Two Zero Two One [Member] | |||
Debt Instrument [Line Items] | |||
Interest rate | 5.31% | ||
Senior Notes Offering Price Two [Member] | NRP LP | Senior Notes Due Two Zero Two Two [Member] | |||
Debt Instrument [Line Items] | |||
Floating rate revolving credit facility | $ 240,638,000 | ||
Senior Note issue percentage | 100.00% | ||
Senior Notes Offering Price Two [Member] | NRP LP | 9.125% senior notes, with semi-annual interest payments in April and October, maturing October 2018 | |||
Debt Instrument [Line Items] | |||
Floating rate revolving credit facility | $ 125,000,000 | ||
Senior Note issue percentage | 99.50% | ||
Senior Notes Offering Price One [Member] | NRP LP | Senior Notes Due Two Zero Two Two [Member] | |||
Debt Instrument [Line Items] | |||
Floating rate revolving credit facility | $ 105,000,000 | ||
Senior Note issue percentage | 98.75% | ||
Senior Notes Offering Price One [Member] | NRP LP | 9.125% senior notes, with semi-annual interest payments in April and October, maturing October 2018 | |||
Debt Instrument [Line Items] | |||
Floating rate revolving credit facility | $ 300,000,000 | ||
Senior Note issue percentage | 99.007% | ||
Revolving Credit Facility | Opco | |||
Debt Instrument [Line Items] | |||
Secured Debt | $ 553,900,000 | ||
Debt Instrument, Interest Rate During Period | 6.23% | 5.32% | |
Net unamortized debt issuance costs | $ (1,700,000) | $ (4,600,000) | |
Debt Instrument, Collateral Amount | 548,900,000 | ||
Discontinued Operations, Held-for-sale | Revolving Credit Facility | Opco | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Collateral Amount | $ 95,700,000 | $ 95,700,000 |
Debt, Net - Additional Informat
Debt, Net - Additional Information (Detail) | Mar. 02, 2017USD ($) | Mar. 31, 2019USD ($) | Jun. 30, 2017 | Dec. 31, 2018USD ($)$ / shares | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Jul. 31, 2013 | Jan. 31, 2013 |
Debt Instrument [Line Items] | ||||||||
Senior Note issue percentage | 98.75% | |||||||
Debt issuance cost capitalized | $ 13,114,000 | $ 16,835,000 | ||||||
Principal balance | 687,138,000 | 827,844,000 | ||||||
Debt Instrument, Percentage of Principal Eligible for Redemption | 35.00% | |||||||
Debt Instrument, Discount on Debt Issuance, as a Percent | 1.25% | |||||||
Debt Instrument, Net Redemption Premium, Percent | 5.813% | |||||||
Debt Instrument, Redemption Premium Above Par, Percentage | 4.563% | |||||||
Debt Instrument, Fee on Redemption, Percent | 1.25% | |||||||
Long-term Debt | 672,758,000 | 809,348,000 | ||||||
Senior Notes due 2022 | ||||||||
Debt Instrument [Line Items] | ||||||||
Principal balance | $ 334,024,000 | 330,404,000 | ||||||
Senior Notes due 2022 | Senior Notes | ||||||||
Debt Instrument [Line Items] | ||||||||
Rate of senior notes | 10.50% | |||||||
Senior Notes, Face Amount | $ 346,000,000 | |||||||
Proceeds from Issuance of Secured Debt | $ 105,000,000 | |||||||
Debt Instrument Redemption Price Percentage Of Principal Remaining After Redemption | 65.00% | |||||||
Debt Instrument Redemption Price At Change Of Control Event As Percentage Of Principal Amount | 101.00% | |||||||
Senior Notes due 2018 | Senior Notes | ||||||||
Debt Instrument [Line Items] | ||||||||
Senior Notes, Face Amount | $ 241,000,000 | |||||||
Debt Instrument, Redemption Premium Above Par, Percentage | 4.563% | |||||||
Ciner Wyoming | ||||||||
Debt Instrument [Line Items] | ||||||||
Percentage of partnership interest owned (percent) | 49.00% | 49.00% | 48.51% | |||||
Ciner Wyoming | Revolving Credit Facility | ||||||||
Debt Instrument [Line Items] | ||||||||
Percentage of partnership interest owned (percent) | 49.00% | |||||||
NRP LP | 9.125% senior notes, with semi-annual interest payments in April and October, maturing October 2018 | ||||||||
Debt Instrument [Line Items] | ||||||||
Rate of senior notes | 9.125% | |||||||
Senior Notes, Face Amount | $ 425,000,000 | |||||||
NRP LP | Senior Notes | ||||||||
Debt Instrument [Line Items] | ||||||||
Rate of senior notes | 10.50% | |||||||
Long-term Debt | $ 344,400,000 | $ 344,000,000 | ||||||
Opco | ||||||||
Debt Instrument [Line Items] | ||||||||
Ratio of consolidated EBITDDA to consolidated fixed charges | 3.5 | |||||||
Percentage of consolidated net tangible assets debt of subsidiaries not permitted to exceed | 10.00% | |||||||
Opco | Revolving Credit Facility | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt Instrument, Interest Rate During Period | 6.23% | 5.32% | ||||||
Debt issuance cost capitalized | $ 1,700,000 | $ 4,600,000 | ||||||
Debt Instrument, Asset Sales Proceeds, Required to Repay Outstanding Debt, Percent | 75.00% | |||||||
Ratio of consolidated EBITDDA to consolidated fixed charges | 3.5 | |||||||
Secured Debt | 553,900,000 | |||||||
Debt Instrument, Collateral Amount | $ 548,900,000 | |||||||
Commitment fee (as a percent) | 0.50% | |||||||
Opco | 8.38% senior notes, with semi-annual interest payments in March and September, with annual principal payments in March, maturing in March 2019 [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Rate of senior notes | 8.38% | |||||||
Principal balance | $ 21,319,000 | 42,670,000 | ||||||
Opco | 8.92% senior notes, with semi-annual interest payments in March and September, with scheduled principal payments beginning March 2014, maturing in March 2024 [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Rate of senior notes | 8.92% | |||||||
Principal balance | $ 27,185,000 | 31,733,000 | ||||||
Opco | Senior Notes | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt Instrument, Covenant, Asset Sales | $ 300,000,000 | |||||||
Debt Instrument, Asset Sales Proceeds, Required to Repay Outstanding Debt, Percent | 25.00% | |||||||
Principal balance | $ 341,500,000 | 422,200,000 | ||||||
Principal payments on its senior notes | (80,700,000) | (80,800,000) | $ (82,900,000) | |||||
Restricted Cash | $ 55,000,000 | |||||||
Partnership leverage ratio | 3.75 | |||||||
Additional interest accrue | 2.00% | |||||||
Opco | Floating Rate Revolving Credit Facility Due April Two Thousand Twenty [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Floating rate revolving credit facility | $ 100,000,000 | |||||||
Debt Instrument, Asset Sales Proceeds, Required to Repay Outstanding Debt, Percent | 75.00% | |||||||
Principal balance | $ 0 | 60,000,000 | ||||||
Line of Credit Facility, Remaining Borrowing Capacity | $ 100,000,000 | |||||||
Opco | Floating Rate Revolving Credit Facility Due April Two Thousand Twenty Two [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Distribution amount (in dollars per share) | $ / shares | $ 0.45 | |||||||
Opco | Maximum | ||||||||
Debt Instrument [Line Items] | ||||||||
Ratio of consolidated indebtedness to consolidated EBITDDA | 4 | |||||||
Opco | Federal Funds Rate [Member] | Revolving Credit Facility | ||||||||
Debt Instrument [Line Items] | ||||||||
Basis spread on variable rate (percent) | 0.50% | |||||||
Opco | London Interbank Offered Rate (LIBOR) [Member] | Revolving Credit Facility | ||||||||
Debt Instrument [Line Items] | ||||||||
Basis spread on variable rate (percent) | 1.00% | |||||||
Opco | London Interbank Offered Rate (LIBOR) [Member] | Maximum | Revolving Credit Facility Basis Spread Condition One [Member] | Revolving Credit Facility | ||||||||
Debt Instrument [Line Items] | ||||||||
Additional basis spread (percent) | 3.50% | |||||||
Opco | London Interbank Offered Rate (LIBOR) [Member] | Maximum | Revolving Credit Facility Basis Spread Condition Two [Member] | Revolving Credit Facility | ||||||||
Debt Instrument [Line Items] | ||||||||
Additional basis spread (percent) | 4.50% | |||||||
Opco | London Interbank Offered Rate (LIBOR) [Member] | Minimum | Revolving Credit Facility Basis Spread Condition One [Member] | Revolving Credit Facility | ||||||||
Debt Instrument [Line Items] | ||||||||
Additional basis spread (percent) | 2.50% | |||||||
Opco | London Interbank Offered Rate (LIBOR) [Member] | Minimum | Revolving Credit Facility Basis Spread Condition Two [Member] | Revolving Credit Facility | ||||||||
Debt Instrument [Line Items] | ||||||||
Additional basis spread (percent) | 3.50% | |||||||
Debt Instrument, Redemption, Period Two | Senior Notes due 2022 | Senior Notes | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt Instrument, Redemption Price, Percentage | 105.25% | |||||||
Debt Instrument, Redemption, Period Three | Senior Notes due 2022 | Senior Notes | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt Instrument, Redemption Price, Percentage | 102.625% | |||||||
Debt Instrument, Redemption, Period Four [Member] | Senior Notes due 2022 | Senior Notes | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt Instrument, Redemption Price, Percentage | 100.00% | |||||||
Debt Instrument, Redemption, Period One | Senior Notes due 2022 | Senior Notes | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt Instrument, Redemption Price, Percentage | 110.50% | |||||||
Restricted Payments Covenant [Member] | Senior Notes due 2022 | Senior Notes | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt Instrument, Covenant, Consolidated Leverage Ratio, Maximum | 4 | |||||||
Debt Instrument, Covenant, Dividend Payment Restriction, Percent | 50.00% | |||||||
Debt Incurrence Covenant [Member] | Senior Notes due 2022 | Senior Notes | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt Instrument, Covenant, Consolidated Leverage Ratio, Maximum | 3 | |||||||
Debt Instrument, Covenant, Debt Limit Numerator | $ 150,000,000 | |||||||
Dividend at or Below $0.45 per Share [Member] | Opco | Floating Rate Revolving Credit Facility Due April Two Thousand Twenty Two [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt Instrument, Covenant, Maximum Leverage Ratio | 4 | 4 | ||||||
Dividend Above $0.45 per Share [Member] | Opco | Floating Rate Revolving Credit Facility Due April Two Thousand Twenty Two [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt Instrument, Covenant, Maximum Leverage Ratio | 3 | |||||||
Subsequent Event | Opco | Senior Notes | ||||||||
Debt Instrument [Line Items] | ||||||||
Principal payments on its senior notes | $ (49,000,000) | |||||||
Discontinued Operations, Held-for-sale | Opco | Revolving Credit Facility | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt Instrument, Collateral Amount | $ 95,700,000 | $ 95,700,000 |
Debt, Net - Principal Payments
Debt, Net - Principal Payments Due (Detail) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Debt Instrument [Line Items] | ||
2,018 | $ 116,125 | |
2,019 | 46,436 | |
2,020 | 39,634 | |
2,021 | 385,272 | |
2,022 | 39,634 | |
Thereafter | 60,037 | |
Principal Payments | 687,138 | |
Long-term Debt | 672,758 | $ 809,348 |
NRP LP | Senior Notes | ||
Debt Instrument [Line Items] | ||
2,018 | 0 | |
2,019 | 0 | |
2,020 | 0 | |
2,021 | 345,638 | |
2,022 | 0 | |
Thereafter | 0 | |
Principal Payments | $ 345,638 | |
Rate of senior notes | 10.50% | |
Long-term Debt | $ 344,400 | $ 344,000 |
Opco | Senior Notes | ||
Debt Instrument [Line Items] | ||
2,018 | 116,125 | |
2,019 | 46,436 | |
2,020 | 39,634 | |
2,021 | 39,634 | |
2,022 | 39,634 | |
Thereafter | 60,037 | |
Principal Payments | 341,500 | |
Opco | Floating Rate Revolving Credit Facility Due April Two Thousand Twenty [Member] | ||
Debt Instrument [Line Items] | ||
Revenue from Contract with Customer, Excluding Assessed Tax | 100,000 | |
Opco | Revolving Credit Facility | ||
Debt Instrument [Line Items] | ||
2,018 | 0 | |
2,019 | 0 | |
2,020 | 0 | |
2,021 | 0 | |
2,022 | 0 | |
Thereafter | 0 | |
Principal Payments | $ 0 |
Fair Value Measurements - Debt
Fair Value Measurements - Debt and Contracts Receivable (Detail) - USD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Liability, Transfers Into Level 3 | $ 0 | $ 0 |
Carrying Value | 687,138,000 | 827,844,000 |
Receivables, Fair Value Disclosure | 40,776,000 | 43,826,000 |
Embedded Derivative, Fair Value of Embedded Derivative Liability | 0 | 0 |
Fair Value, Inputs, Level 3 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Receivables, Fair Value Disclosure | 34,704,000 | 30,517,000 |
Senior Notes due 2022 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Carrying Value | 334,024,000 | 330,404,000 |
Senior Notes due 2022 | Fair Value, Inputs, Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Estimated Fair Value | 356,871,000 | 366,376,000 |
Opco Senior Notes | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Carrying Value | 338,734,000 | 418,944,000 |
Opco Senior Notes | Fair Value, Inputs, Level 3 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Estimated Fair Value | 352,599,000 | 447,538,000 |
Opco Revolving Credit Facility And Term Loan Facility | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Carrying Value | 0 | 60,000,000 |
Opco Revolving Credit Facility And Term Loan Facility | Fair Value, Inputs, Level 3 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Estimated Fair Value | $ 0 | $ 60,000,000 |
Related Party Transactions - Su
Related Party Transactions - Summary of Reimbursements (Detail) - USD ($) $ in Thousands | May 09, 2017 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Related Party Transaction [Line Items] | ||||||||||||
Revenues | $ 63,935 | $ 58,207 | $ 69,451 | $ 59,478 | $ 64,927 | $ 58,406 | $ 58,015 | $ 61,432 | $ 251,071 | $ 242,780 | $ 250,176 | |
Operating and maintenance expenses—affiliates | 11,615 | 8,112 | 9,153 | |||||||||
General and administrative—affiliates | 3,658 | 4,989 | 3,591 | |||||||||
Operating Expenses | 85,974 | 69,766 | 98,087 | |||||||||
Foresight Energy Lp | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Revenues | 54,595 | 70,489 | 63,355 | |||||||||
Cline Affiliates | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Rate of interest in the partnerships general partner | 31.00% | |||||||||||
Operating and maintenance expenses—affiliates | 0 | 452 | 1,347 | |||||||||
Operating Expenses | 1,761 | 1,066 | 0 | |||||||||
Cline Affiliates | Foresight Energy Lp | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Operating Expenses | 1,761 | 1,518 | 1,347 | |||||||||
Affiliated Entity | Western Pocahontas Properties and Quintana Minerals Corporation | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Operating and maintenance expenses—affiliates | 6,170 | 6,184 | 8,119 | |||||||||
General and administrative—affiliates | 3,658 | 4,989 | 3,591 | |||||||||
Transportation and Processing | Foresight Energy Lp | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Revenues | 23,818 | 14,510 | 0 | |||||||||
Transportation and processing services—affiliate | Foresight Energy Lp | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Revenue from Related Parties | $ 0 | $ 6,012 | $ 19,336 |
Related Party Transactions - Ad
Related Party Transactions - Additional Information (Detail) - USD ($) $ in Thousands | May 09, 2017 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Related Party Transaction [Line Items] | ||||||||||||
Revenues | $ 63,935 | $ 58,207 | $ 69,451 | $ 59,478 | $ 64,927 | $ 58,406 | $ 58,015 | $ 61,432 | $ 251,071 | $ 242,780 | $ 250,176 | |
Lease receivable, next year | 5,000 | 5,000 | ||||||||||
Quarterly lease receivable | 1,250 | 1,250 | ||||||||||
Operating and maintenance expense | 85,974 | 69,766 | 98,087 | |||||||||
Operating and maintenance expenses—affiliates | 11,615 | 8,112 | 9,153 | |||||||||
General and administrative—affiliates | 3,658 | 4,989 | 3,591 | |||||||||
Amount payable to related parties | 1,866 | 490 | 1,866 | 490 | ||||||||
Accounts receivable—affiliates | 34 | 161 | 34 | 161 | ||||||||
Deferred Revenue, Revenue Recognized | 20,242 | |||||||||||
Quintana Minerals | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Amount payable to related parties | 500 | 400 | 500 | 400 | ||||||||
Western Pocahontas Properties | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Amount payable to related parties | 1,400 | 100 | 1,400 | 100 | ||||||||
Cline Affiliates | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Related Party Transaction, Rate | 31.00% | |||||||||||
Operating and maintenance expense | 1,761 | 1,066 | 0 | |||||||||
Operating and maintenance expenses—affiliates | 0 | 452 | 1,347 | |||||||||
Western Pocahontas Properties and Quintana Minerals Corporation | Affiliated Entity | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Operating and maintenance expenses—affiliates | 6,170 | 6,184 | 8,119 | |||||||||
General and administrative—affiliates | 3,658 | 4,989 | 3,591 | |||||||||
Foresight Energy Lp | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Revenues | 54,595 | 70,489 | 63,355 | |||||||||
Foresight Energy Lp | Cline Affiliates | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Operating and maintenance expense | 1,761 | 1,518 | 1,347 | |||||||||
Foresight Energy Lp | Coal Sales | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Revenues | 30,777 | 28,763 | 0 | |||||||||
Revenue from Related Parties | 0 | 21,204 | 44,019 | |||||||||
Sugar Camp | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Lease receivable, year two | 5,000 | 5,000 | ||||||||||
Lease receivable, year three | 5,000 | 5,000 | ||||||||||
Lease receivable, year four | 5,000 | 5,000 | ||||||||||
Lease receivable, year five | 5,000 | 5,000 | ||||||||||
Projected remaining payments | 66,495 | 71,452 | 66,495 | 71,452 | ||||||||
Unearned income | 25,058 | 28,366 | 25,058 | 28,366 | ||||||||
Corsa | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Revenue from Related Parties | 484 | 1,300 | 2,200 | |||||||||
Accounts receivable—affiliates | 200 | 200 | ||||||||||
Western Pocahontas Properties Limited Partnership | Affiliated Entity | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Operating and maintenance expenses—affiliates | 5,400 | 1,500 | 700 | |||||||||
Other assets—affiliate | 200 | 200 | ||||||||||
Quinwood Coal Company | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Deferred Revenue, Revenue Recognized | 900 | |||||||||||
Discontinued Operations, Held-for-sale | Quintana Minerals | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Operating and maintenance expenses—affiliates | 1,000 | 1,400 | $ 3,100 | |||||||||
Amount payable to related parties | $ 100 | $ 100 | $ 100 | $ 100 |
Major Customers (Detail)
Major Customers (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Concentration Risk [Line Items] | |||||||||||
Revenues | $ 63,935 | $ 58,207 | $ 69,451 | $ 59,478 | $ 64,927 | $ 58,406 | $ 58,015 | $ 61,432 | $ 251,071 | $ 242,780 | $ 250,176 |
Foresight Energy Lp | |||||||||||
Concentration Risk [Line Items] | |||||||||||
Revenues | $ 54,595 | $ 70,489 | $ 63,355 | ||||||||
Sales Revenue | Customer Concentration Risk | Foresight Energy Lp | |||||||||||
Concentration Risk [Line Items] | |||||||||||
Concentration risk, percentage | 21.70% | 29.00% | 25.30% |
Commitments and Contingencies -
Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Millions | 1 Months Ended | 12 Months Ended | 36 Months Ended | ||
Oct. 31, 2018 | Dec. 31, 2018 | Dec. 31, 2015 | Jul. 31, 2013 | Jan. 31, 2013 | |
Anadarko Holding Company | |||||
Commitments And Contingencies [Line Items] | |||||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | $ 50 | ||||
Ciner Wyoming | Anadarko Holding Company | |||||
Commitments And Contingencies [Line Items] | |||||
Equity Investment Contingent Consideration Paid | $ 11.5 | ||||
OCI LP | Ciner Wyoming | |||||
Commitments And Contingencies [Line Items] | |||||
Percentage of partnership interest owned (percent) | 1.00% | ||||
Ciner Wyoming | |||||
Commitments And Contingencies [Line Items] | |||||
Percentage of partnership interest owned (percent) | 49.00% | 49.00% | 48.51% | ||
Pending Litigation | Minimum | Anadarko Holding Company | |||||
Commitments And Contingencies [Line Items] | |||||
Minimum deficiency payments | $ 0 | ||||
Pending Litigation | Maximum | Anadarko Holding Company | |||||
Commitments And Contingencies [Line Items] | |||||
Minimum deficiency payments | 40 | ||||
Settled Litigation [Member] | Lawsuit Against Hillsboro Energy LLC | |||||
Commitments And Contingencies [Line Items] | |||||
Proceeds from Legal Settlements | $ 25 | ||||
Damages sought, value | 30 | ||||
Litigation Settlement, Amount Awarded from Other Party | $ 11 | ||||
Loss Contingency, Forfeiture of Recoupable Lease Balance in Settlement | $ 37.4 |
Unit-Based Compensation Additio
Unit-Based Compensation Additional Information (Details) - USD ($) shares in Thousands, $ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Forfeitures during the period (in shares) | (2) | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number | 17 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 75 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 56 | 0 |
Vesting period of Grants (in years) | 3 years | |
Grant date fair value | $ 2.2 | |
Unaccrued Cost Associated With Outstanding Grants And Related Distribution Equivalent Rights | 1.2 | |
Board Members [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Grant date fair value | 0.6 | |
Compensation expense | 0.4 | |
Operating Expense [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Compensation expense | 0.1 | |
General and Administrative Expense [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Compensation expense | $ 1 |
Unit-Based Compensation Summary
Unit-Based Compensation Summary of Activity in Outstanding Grants (Details) - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term | 2 years 1 month 15 days | |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 800,000 | |
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | |
Vesting period of Grants (in years) | 3 years | |
Unaccrued Cost Associated With Outstanding Grants And Related Distribution Equivalent Rights | $ 1.2 | |
Grant date fair value | $ 2.2 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Exercise Price | $ 29.10 | $ 0 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ||
Outstanding grants at beginning of period (in shares) | 0 | |
Grants during the period (in shares) | 75,000 | |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 29.16 | |
Grants vested and paid during the period (in shares) | (17,000) | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Exercisable Options, Weighted Average Exercise Price | $ 31.24 | |
Forfeitures during the period (in shares) | (2,000) | |
Outstanding grants at the end of the period (in shares) | 56,000 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period, Weighted Average Exercise Price | $ 0 | |
Board Members [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Grant date fair value | $ 0.6 | |
Compensation expense | 0.4 | |
General and Administrative Expense [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Compensation expense | 1 | |
Operating Expense [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Compensation expense | $ 0.1 |
Supplemental Quarterly Inform_3
Supplemental Quarterly Information (Unaudited) - Selected Quarterly Financial Information (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | Mar. 02, 2017 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Jul. 31, 2016 |
Revenues | $ 63,935 | $ 58,207 | $ 69,451 | $ 59,478 | $ 64,927 | $ 58,406 | $ 58,015 | $ 61,432 | $ 251,071 | $ 242,780 | $ 250,176 | ||
Gain on litigation settlement | 25,000 | 0 | 0 | 0 | 25,000 | 0 | 0 | ||||||
Gain (loss) on asset sales | 1,622 | 0 | 168 | 651 | 178 | 154 | 3,184 | 29 | 2,441 | 3,545 | 29,068 | ||
Asset impairments | 18,038 | 0 | 0 | 242 | 1,189 | 0 | 0 | 1,778 | 18,280 | 2,967 | 15,861 | ||
Income from operations | 52,093 | 43,346 | 52,863 | 44,236 | 47,861 | 43,052 | 47,522 | 38,124 | 192,538 | 176,559 | 181,157 | ||
Net income | 49,058 | 28,900 | 37,241 | 24,338 | 139,537 | 88,667 | 96,892 | ||||||
Debt modification expense | 0 | 0 | 132 | 7,807 | 0 | 7,939 | 0 | ||||||
Loss on extinguishment of debt | 0 | 0 | 0 | 0 | 4,107 | 0 | |||||||
Net income from continuing operations | 35,092 | 25,853 | 35,129 | 26,286 | 28,665 | 23,079 | 23,153 | 7,588 | 122,360 | 82,485 | 90,626 | ||
Income (loss) from discontinued operations | 13,966 | 2,688 | 2,981 | (1,948) | 2,042 | 2,987 | 2,837 | (1,684) | 17,687 | 6,182 | 6,266 | ||
Net income | 49,058 | 28,541 | 38,110 | 24,338 | 30,707 | 26,066 | 25,990 | 5,904 | 140,047 | 88,667 | 96,892 | ||
Net income attributable to common unitholders and general partner | $ 41,558 | $ 21,400 | $ 29,741 | $ 16,838 | $ 22,942 | $ 18,416 | $ 18,452 | $ 3,404 | $ 109,537 | $ 63,214 | $ 96,892 | ||
Income from continuing operations per common unit (basic) | $ 2.21 | $ 1.50 | $ 2.14 | $ 1.50 | $ 1.67 | $ 1.24 | $ 1.25 | $ 0.41 | $ 7.35 | $ 4.57 | $ 7.28 | ||
Income from continuing operations per common unit (diluted) | 1.69 | 1.18 | 1.57 | 1.16 | 1.18 | 0.94 | 1.01 | 0.50 | 5.90 | 3.68 | 7.28 | ||
Basic net income per common unit | 3.33 | 1.71 | 2.38 | 1.35 | 1.84 | 1.48 | 1.47 | 0.28 | 8.77 | 5.06 | 7.78 | ||
Diluted net income per common unit | $ 2.36 | $ 1.30 | $ 1.71 | $ 1.08 | $ 1.26 | $ 1.07 | $ 1.13 | $ 0.28 | $ 6.76 | $ 3.96 | $ 7.78 | ||
Weighted average number of common units outstanding (basic) | 12,247 | 12,246 | 12,246 | 12,238 | 12,232 | 12,232 | 12,232 | 12,232 | 12,244 | 12,232 | 12,232 | ||
Weighted average number of common units outstanding (diluted) | 20,394 | 21,840 | 21,383 | 22,125 | 23,874 | 23,980 | 22,459 | 14,945 | 20,234 | 21,950 | 12,232 | ||
Debt Instrument, Redemption Premium Above Par, Percentage | 4.563% | ||||||||||||
Senior Notes | Senior Notes due 2018 | |||||||||||||
Loss on extinguishment of debt | $ (4,107) | ||||||||||||
Senior Notes, Face Amount | $ 241,000 | ||||||||||||
Debt Instrument, Redemption Premium Above Par, Percentage | 4.563% | ||||||||||||
Discontinued Operations, Held-for-sale | |||||||||||||
Gain (loss) on asset sales | $ 13,100 | $ 13,100 | |||||||||||
Disposal Group, Including Discontinued Operation, Consideration | $ 205,000 | $ 205,000 | $ 116,100 | ||||||||||
Previously Reported | |||||||||||||
Revenues | $ 94,855 | $ 109,860 | $ 86,630 | $ 100,822 | $ 93,116 | $ 91,570 | $ 88,653 | $ 374,161 | |||||
Gain (loss) on asset sales | 163 | 210 | 660 | 280 | 171 | 3,361 | 44 | 3,856 | |||||
Asset impairments | 242 | 1,253 | 1,778 | 3,031 | |||||||||
Income from operations | 46,066 | 55,878 | 42,322 | 49,998 | 46,531 | 50,404 | 37,042 | 183,975 | |||||
Net income | 28,900 | 37,241 | 24,338 | ||||||||||
Debt modification expense | 132 | 7,807 | 7,939 | ||||||||||
Loss on extinguishment of debt | 4,107 | ||||||||||||
Net income from continuing operations | 28,565 | 38,144 | 24,352 | 30,741 | 26,499 | 25,857 | 6,111 | 89,208 | |||||
Income (loss) from discontinued operations | (24) | (34) | (14) | (34) | (433) | 133 | (207) | (541) | |||||
Net income | 28,541 | 38,110 | 24,338 | 30,707 | 26,066 | 25,990 | 5,904 | 88,667 | |||||
Net income attributable to common unitholders and general partner | $ 21,400 | $ 29,741 | $ 16,838 | $ 22,942 | $ 18,416 | $ 18,452 | $ 3,404 | $ 63,214 | |||||
Income from continuing operations per common unit (basic) | $ 1.71 | $ 2.38 | $ 1.35 | $ 1.84 | $ 1.51 | $ 1.46 | $ 0.30 | $ 5.11 | |||||
Income from continuing operations per common unit (diluted) | 1.30 | 1.71 | 1.08 | 1.26 | 1.08 | 1.13 | 0.30 | 3.98 | |||||
Basic net income per common unit | 1.71 | 2.38 | 1.35 | 1.84 | 1.48 | 1.47 | 0.28 | 5.06 | |||||
Diluted net income per common unit | $ 1.30 | $ 1.71 | $ 1.08 | $ 1.26 | $ 1.07 | $ 1.13 | $ 0.28 | $ 3.96 | |||||
Weighted average number of common units outstanding (basic) | 12,246 | 12,246 | 12,238 | 12,232 | 12,232 | 12,232 | 12,232 | 12,232 | |||||
Weighted average number of common units outstanding (diluted) | 21,840 | 21,383 | 22,125 | 23,874 | 23,980 | 22,459 | 14,945 | 21,950 | |||||
Previously Reported | Senior Notes | Senior Notes due 2018 | |||||||||||||
Loss on extinguishment of debt | $ (4,107) | ||||||||||||
Restatement Adjustment | |||||||||||||
Revenues | $ (36,648) | $ (40,409) | $ (27,152) | $ (35,895) | $ (34,710) | (33,555) | $ (27,221) | $ (131,381) | |||||
Gain (loss) on asset sales | (163) | (42) | (9) | (102) | (17) | (177) | (15) | (311) | |||||
Asset impairments | 0 | (64) | 0 | (64) | |||||||||
Income from operations | (2,720) | (3,015) | 1,914 | (2,137) | (3,479) | (2,882) | 1,082 | (7,416) | |||||
Net income | 0 | 0 | 0 | ||||||||||
Debt modification expense | 0 | 0 | 0 | ||||||||||
Loss on extinguishment of debt | 0 | ||||||||||||
Net income from continuing operations | (2,712) | (3,015) | 1,934 | (2,076) | (3,420) | (2,704) | 1,477 | (6,723) | |||||
Income (loss) from discontinued operations | 2,712 | 3,015 | (1,934) | 2,076 | 3,420 | 2,704 | (1,477) | 6,723 | |||||
Net income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Net income attributable to common unitholders and general partner | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | |||||
Income from continuing operations per common unit (basic) | $ (0.22) | $ (0.24) | $ 0.15 | $ (0.17) | $ (0.27) | $ (0.22) | $ 0.12 | $ (0.54) | |||||
Income from continuing operations per common unit (diluted) | (0.12) | (0.14) | 0.09 | (0.09) | (0.14) | (0.12) | 0.10 | (0.30) | |||||
Basic net income per common unit | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Diluted net income per common unit | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | |||||
Weighted average number of common units outstanding (basic) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Weighted average number of common units outstanding (diluted) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Restatement Adjustment | Senior Notes | Senior Notes due 2018 | |||||||||||||
Loss on extinguishment of debt | $ 0 |
Uncategorized Items - nrp-20181
Label | Element | Value |
Cumulative Effect of New Accounting Principle in Period of Adoption | us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption | $ 70,466,000 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents | 40,244,000 |
Cash and Cash Equivalents, Period Increase (Decrease) | us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease | (10,544,000) |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations | us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations | 51,773,000 |
General Partner [Member] | ||
Cumulative Effect of New Accounting Principle in Period of Adoption | us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption | 1,409,000 |
Common Stock [Member] | ||
Cumulative Effect of New Accounting Principle in Period of Adoption | us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption | 69,057,000 |
Partners Capital Excluding Noncontrolling Interest [Member] | ||
Cumulative Effect of New Accounting Principle in Period of Adoption | us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption | $ 70,466,000 |