Intrepid Potash (IPI) 10-Q 28 Apr 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2015	Apr. 24, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	Intrepid Potash, Inc.
Entity Central Index Key	1421461
Document Type	10-Q
Document Period End Date	31-Mar-15
Amendment Flag	FALSE
Current Fiscal Year End Date	-19
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		76,147,979
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
ASSETS
Cash and cash equivalents	$66,786	$67,589
Short-term investments	34,310	10,434
Accounts receivable:
Trade, net	38,516	28,561
Other receivables	3,280	3,600
Refundable income taxes	72	114
Inventory, net	74,446	84,094
Prepaid expenses and other current assets	4,087	4,739
Current deferred tax asset	280	3,356
Total current assets	221,777	202,487
Property, plant, equipment, and mineral properties, net	770,188	785,250
Long-term parts inventory, net	17,700	16,366
Long-term investments	11,546	11,856
Other assets, net	3,922	4,035
Non-current deferred tax asset	146,838	146,725
Total Assets	1,171,971	1,166,719
Accounts payable:
Trade	17,032	19,953
Related parties	69	55
Accrued liabilities	15,628	12,483
Accrued employee compensation and benefits	10,187	12,069
Other current liabilities	2,063	2,075
Total current liabilities	44,979	46,635
Long-term debt	150,000	150,000
Asset retirement obligation	20,813	20,389
Other non-current liabilities	2,330	2,410
Total Liabilities	218,122	219,434
Common stock, $0.001 par value; 100,000,000 shares authorized; and 75,528,235 and 75,405,410 shares outstanding at September, 30, 2014, and December 31, 2013, respectively	76	76
Additional paid-in capital	576,211	576,186
Accumulated other comprehensive income (loss)	-18	-28
Retained earnings	377,580	371,051
Total Stockholders' Equity	953,849	947,285
Total Liabilities and Stockholders' Equity	$1,171,971	$1,166,719

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$0.00	$0.00
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares outstanding	75,672,087	75,405,410

CONSOLIDATED_STATEMENTS_OF_OPE

CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Income Statement [Abstract]
Sales	$117,021	$98,875
Less:
Freight costs	10,912	9,932
Warehousing and handling costs	3,747	2,812
Cost of goods sold	83,282	78,573
Lower-of-cost-or-market inventory adjustments	360	3,566
Gross Margin	18,720	3,992
Selling and administrative	7,468	6,746
Accretion of asset retirement obligation	424	406
Restructuring expense	0	1,827
Other operating expense (income)	66	-2,947
Operating Income	10,762	-2,040
Other Income (Expense)
Interest expense	-1,644	-1,380
Interest income	155	53
Other income (expense)	327	234
(Loss) Income Before Income Taxes	9,600	-3,133
Income Tax Benefit (Expense)	-3,071	2,778
Net (Loss) Income	$6,529	($355)
Weighted Average Shares Outstanding:
Basic (in shares)	75,589,092	75,444,953
Diluted (in shares)	75,707,000	75,444,953
(Loss) Earnings Per Share:
Basic (in dollars per share)	$0.09	$0
Diluted (in dollars per share)	$0.09	$0

CONSOLIDATED_STATEMENTS_OF_COM

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Statement of Comprehensive Income [Abstract]
Net (Loss) Income	$6,529	($355)
Unrealized gain (loss) on investments available for sale, net of tax	10	12
Other Comprehensive Income	10	12
Comprehensive (Loss) Income	$6,539	($343)

CONSOLIDATED_STATEMENT_OF_STOC

CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (USD $)	Total	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive (Loss) Income	Retained Earnings
In Thousands, except Share data, unless otherwise specified
Balance at Dec. 31, 2014	$947,285	$76	$576,186	($28)	$371,051
Balance (in shares) at Dec. 31, 2014		75,536,741
Increase (Decrease) in Stockholders' Equity
Unrealized gain on investments available for sale, net of tax	10			10
Stock-based compensation	1,062		1,062
Vesting of restricted common stock, net of restricted common stock used to fund employee income tax withholding due upon vesting (in shares)		135,346
Vesting of restricted common stock, net of restricted common stock used to fund employee income tax withholding due upon vesting	-1,037	0	-1,037
Balance at Mar. 31, 2015	953,849	76	576,211	-18	377,580
Net income at Mar. 31, 2015	$6,529				$6,529
Balance (in shares) at Mar. 31, 2015		75,672,087

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Reconciliation of net income to net cash provided by operating activities:
Net income	$6,529	($355)
Deferred income taxes	2,956	-2,778
Items not affecting cash:
Depreciation, depletion, and accretion	21,276	19,649
Stock-based compensation	1,062	1,028
Lower-of-cost-or-market inventory adjustments	360	3,566
Other	378	223
Changes in operating assets and liabilities:
Trade accounts receivable, net	-9,955	-9,431
Other receivables, net	319	-3,316
Refundable income taxes	41	2,025
Inventory, net	7,954	6,743
Prepaid expenses and other assets	666	1,005
Accounts payable, accrued liabilities, and accrued employee compensation and benefits	1,180	-335
Other liabilities	-92	-700
Net cash provided by operating activities	32,674	17,324
Cash Flows from Investing Activities:
Additions to property, plant, equipment, and mineral properties	-8,678	-31,919
Purchases of investments	-27,600	-5
Proceeds from sale of investments	3,838	18,051
Net cash used in investing activities	-32,440	-13,873
Cash Flows from Financing Activities:
Employee tax withholding paid for restricted stock upon vesting	-1,037	-611
Net cash (used in) provided by financing activities	-1,037	-611
Net Change in Cash and Cash Equivalents	-803	2,840
Cash and Cash Equivalents, beginning of period	67,589	394
Cash and Cash Equivalents, end of period	66,786	3,234
Net cash paid (refunded) during the period for:
Interest	161	112
Income taxes	11	-2,025
Accrued purchases for property, plant, equipment, and mineral properties	$2,100	$13,172

COMPANY_BACKGROUND

COMPANY BACKGROUND	3 Months Ended
	Mar. 31, 2015
Company Background Disclosure [Abstract]
COMPANY BACKGROUND	COMPANY BACKGROUND
	We are the only producer of muriate of potash (“potassium chloride” or “potash”) in the United States and one of two producers of langbeinite ("sulfate of potash magnesia"), which we market and sell as Trio®. We sell potash and Trio® primarily into the agricultural market as a fertilizer. We also sell these products into the animal feed market as a nutritional supplement and sell potash into the industrial market as a component in drilling and fracturing fluids for oil and gas wells and other industrial inputs. Our revenues are generated exclusively from the sale of potash and Trio®. We also produce salt and magnesium chloride from our potash mining processes, the sales of which are accounted for as by-product credits to our cost of sales. These by-product credits represented approximately 2% to 3% of total cost of goods sold in each of the last three years.
	We own three solution mining facilities and two conventional underground mining facilities that we utilize for producing potash. Our solution mining production comes from our HB solar solution mine near Carlsbad, New Mexico, a solar solution mine near Moab, Utah and a solar brine recovery mine in Wendover, Utah. Our conventional production comes from our underground West and East mines near Carlsbad, New Mexico. We also operate the North compaction facility near Carlsbad, New Mexico, which services the West and HB mines. Trio® production comes from underground conventional mining of a mixed ore body that contains both potash and langbeinite, which is mined and processed at the East facility near Carlsbad, New Mexico.
	We manage sales and marketing operations centrally. This allows us to evaluate the product needs of our customers and then centrally determine which of our production facilities to use to fill customers’ orders in a manner designed to realize the highest average net realized sales price per ton. We calculate average net realized sales price per ton by deducting freight costs from gross revenues and then by dividing this result by tons of product sold during the period. We also monitor product inventory levels and overall production costs centrally. We have one reporting segment being the extraction, production, and sale of potassium-related products. Our extraction and production operations are conducted entirely in the continental United States.

SUMMARY_OF_SIGNIFICANT_ACCOUNT

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	Principles of Consolidation—Our consolidated financial statements include our accounts and those of our wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. In the opinion of management, all adjustments, consisting of normal recurring accruals considered necessary for a fair presentation of interim financial information, have been included.
	Use of Estimates—The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities as of the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. We base our estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Accordingly, actual results may differ significantly from these estimates under different assumptions or conditions.
	Significant estimates include, but are not limited to, those for proven and probable mineral reserves, the related present value of estimated future net cash flows, useful lives of plant assets, asset retirement obligations, normal inventory production levels, inventory valuations, the valuation of equity awards, the valuation of receivables, valuation of our deferred tax assets and estimated blended income tax rates utilized in the current and deferred income tax calculations. There are numerous uncertainties inherent in estimating quantities of proven and probable reserves, projecting future rates of production, and the timing of development expenditures. Future mineral prices may vary significantly from the prices in effect at the time the estimates are made, as may estimates of future operating costs. The estimate of proven and probable mineral reserves, the related present value of estimated future cash flows, and useful lives of plant assets can affect various other items including depletion, the net carrying value of our mineral properties, the useful lives of related property, plant, and equipment, depreciation expense, and estimates associated with recoverability of long-lived assets and asset retirement obligations. Specific to income tax items, we experience fluctuations in the valuation of the deferred tax assets and liabilities due to changing state income tax rates and the blend of state tax rates.
	Revenue Recognition—Revenue is recognized when evidence of an arrangement exists, risks and rewards of ownership have been transferred to customers, which is generally when title passes, the selling price is fixed and determinable, and collection is reasonably assured. Title passes at the designated shipping point for the majority of sales, but, in a few cases, title passes at the delivery destination. The shipping point may be the plant, a distribution warehouse, a customer warehouse, or a port. Title passes for some international shipments upon payment by the purchaser; however, revenue is not recognized for these transactions until shipment because the risks and rewards of ownership have not transferred pursuant to a contractual arrangement. Prices are generally set at the time of, or prior to, shipment. In cases where the final price is determined upon resale of the product by the customer, revenue is deferred until the final sales price is known.
	Sales are reported on a gross basis. We quote prices to customers both on a delivered basis and on the basis of pick-up at our plants and warehouses. When a sale occurs on a delivered basis, we incur and, in turn, bill the customer and record as gross revenue the product sales value, freight, packaging, and certain other distribution costs. Many customers, however, arrange and pay for these costs directly and, in these situations, only the product sales are included in gross revenues.
	By-Product Credits—When by-product inventories are sold, we record the sale of by-products as a credit to cost of goods sold.
	Property, Plant, and Equipment—Property, plant, and equipment are stated at historical cost. Expenditures for property, plant, and equipment relating to new assets or improvements are capitalized, provided the expenditure extends the useful life of an asset or extends the asset’s functionality. Property, plant, and equipment are depreciated under the straight-line method using estimated useful lives. No depreciation is taken on assets classified as construction in progress until the asset is placed into service. Gains and losses are recorded upon retirement, sale, or disposal of assets. Maintenance and repair costs are recognized as period costs when incurred. Capitalized interest, to the extent of debt outstanding, is calculated and capitalized on assets that are being constructed, drilled, or built or that are otherwise classified as construction in progress.
	Mineral Properties and Development Costs—Mineral properties and development costs, which are referred to collectively as mineral properties, include acquisition costs, the cost of drilling production wells, and the cost of other development work, all of which are capitalized. Depletion of mineral properties is calculated using the units-of-production method over the estimated life of the relevant ore body. The lives of reserves used for accounting purposes are shorter than current reserve life determinations due to uncertainties inherent in long-term estimates. These reserve life estimates have been prepared by us and reviewed and independently determined by mine consultants. Tons of potash and langbeinite in the proven and probable reserves are expressed in terms of expected finished tons of product to be realized, net of estimated losses. Market price fluctuations of potash or Trio®, as well as increased production costs or reduced recovery rates, could render proven and probable reserves containing relatively lower grades of mineralization uneconomic to exploit and might result in a reduction of reserves. In addition, the provisions of our mineral leases, including royalty provisions, are subject to periodic readjustment by the state and federal government, which could affect the economics of our reserve estimates. Significant changes in the estimated reserves could have a material impact on our results of operations and financial position.
	Fair Value of Financial Instruments—Our financial instruments include cash and cash equivalents, short-term and long-term investments, restricted cash, accounts receivable, refundable income taxes, and accounts payable. These instruments are carried at cost, which approximates fair value due to the short-term maturities of the instruments. All available-for-sale investments are carried at fair value. Allowances for doubtful accounts are recorded against the accounts receivable balance to estimate net realizable value. The fair value of the long-term debt is estimated using discounted cash flow analysis based on current borrowing rates for debt with similar remaining maturities and ratings. Although there are no amounts currently outstanding under our unsecured credit facility, any borrowings that become outstanding would bear interest at a floating rate and therefore be recorded at their estimated fair value.
	Earnings per Share—Basic net income or loss per common share of stock is calculated by dividing net income or loss available to common stockholders by the weighted average basic common shares outstanding for the respective period.
	Diluted net income or loss per common share of stock is calculated by dividing net income or loss by the weighted average diluted common shares outstanding, which includes the effect of potentially dilutive securities. Potentially dilutive securities for the diluted earnings or loss per share calculation consist of awards of non-vested restricted shares of common stock, non-vested performance units, and non-qualified stock options. The dilutive effect of stock based compensation arrangements are computed using the treasury stock method. Following the lapse of the vesting period of restricted shares of common stock, the shares are considered issued and therefore are included in the number of issued and outstanding shares for purposes of these calculations.

EARNINGS_PER_SHARE

EARNINGS PER SHARE	3 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE
	Potentially dilutive securities, including non-vested restricted common stock, stock options, and performance units, are excluded from the diluted weighted average shares outstanding computation in periods in which they have an anti-dilutive effect, such as when there is a net loss. The treasury stock method is used to measure the dilutive impact of non-vested restricted common stock, stock options outstanding, and performance units. For the three months ended March 31, 2015, and 2014, 91,621 and 571,609 non-vested weighted average shares of restricted common stock and 320,926 and 335,935 weighted average stock options, respectively, were anti-dilutive and therefore were not included in the diluted weighted average share calculation. For the three months ended March 31, 2015, and 2014, 73,529 and 19,874, respectively, weighted average shares of common stock underlying non-vested performance units were anti-dilutive and therefore were not included in the diluted weighted average share calculation. The following table sets forth the calculation of basic and diluted earnings per share (in thousands, except per share amounts):
		Three Months Ended March 31,
		2015		2014
	Net income (loss)	$	6,529	$	(355	)
	Basic weighted average common shares outstanding	75,589		75,445
	Add: Dilutive effect of non-vested restricted common stock	110		—
	Add: Dilutive effect of performance units	8		—
	Diluted weighted average common shares outstanding	75,707		75,445
	Earnings (Loss) per share:
	Basic	$	0.09	$	0
	Diluted	$	0.09	$	0

CASH_CASH_EQUIVALENTS_AND_INVE

CASH, CASH EQUIVALENTS, AND INVESTMENTS	3 Months Ended
	Mar. 31, 2015
Cash, Cash Equivalents, and Investments Disclosure [Abstract]
CASH, CASH EQUIVALENTS, AND INVESTMENTS	CASH, CASH EQUIVALENTS, AND INVESTMENTS
	The following table summarizes the fair value of our cash and investments held in our portfolio, recorded as cash and cash equivalents or short-term or long-term investments as of March 31, 2015, and December 31, 2014 (in thousands):
		March 31, 2015			December 31, 2014
	Cash	$	24,213		$	16,506
	Commercial paper and money market accounts	42,573			51,083
	Total cash and cash equivalents	$	66,786		$	67,589
	Corporate bonds	$	33,307		$	9,432
	Certificates of deposit and time deposits	1,003			1,002
	Total short-term investments	$	34,310		$	10,434
	Corporate bonds	$	11,546		$	11,856
	Total long-term investments	$	11,546		$	11,856
	Total cash, cash equivalents, and investments	$	112,642		$	89,879
	The following tables summarize the cost basis, unrealized gains and losses, and fair value of our available-for-sale investments held in our portfolio as of March 31, 2015, and December 31, 2014 (in thousands):
			March 31, 2015
						Unrealized
			Cost Basis			Gain		Loss			Fair Value
	Corporate bonds		$	44,884		$	12	$	(43	)	$	44,853
	Certificates of deposit and time deposits		1,003			—		—			1,003
	Total available-for-sale securities		$	45,887		$	12	$	(43	)	$	45,856
			December 31, 2014
						Unrealized
			Cost Basis			Gain		Loss			Fair Value
	Corporate bonds		$	21,335		$	1	$	(48	)	$	21,288
	Certificates of deposit and time deposits		1,002			—		—			1,002
	Total available-for-sale securities		$	22,337		$	1	$	(48	)	$	22,290

INVENTORY_AND_LONGTERM_PARTS_I

INVENTORY AND LONG-TERM PARTS INVENTORY	3 Months Ended
	Mar. 31, 2015
Inventory Disclosure [Abstract]
INVENTORY AND LONG-TERM PARTS INVENTORY	INVENTORY AND LONG-TERM PARTS INVENTORY
	The following summarizes our inventory, recorded at the lower of weighted average cost or estimated net realizable value, as of March 31, 2015, and December 31, 2014, respectively (in thousands):
		March 31, 2015		December 31, 2014
	Finished goods product inventory	$	39,013	$	44,137
	In-process mineral inventory	14,799		19,584
	Total product inventory	53,812		63,721
	Current parts inventory, net	20,634		20,373
	Total current inventory, net	74,446		84,094
	Long-term parts inventory, net	17,700		16,366
	Total inventory, net	$	92,146	$	100,460
	Parts inventories are shown net of any required allowances.
	During the three months ended March 31, 2015, and 2014, we recorded charges of approximately $0.4 million and $3.6 million, respectively, as a result of routine assessments of the lower of weighted average cost or estimated net realizable value on our finished goods product inventory.

PROPERTY_PLANT_EQUIPMENT_AND_M

PROPERTY, PLANT, EQUIPMENT, AND MINERAL PROPERTIES	3 Months Ended
	Mar. 31, 2015
Property Plant and Equipment and Mineral Properties Disclosure [Abstract]
PROPERTY, PLANT, EQUIPMENT, AND MINERAL PROPERTIES	PROPERTY, PLANT, EQUIPMENT, AND MINERAL PROPERTIES
	“Property, plant, equipment, and mineral properties, net" were comprised of the following (in thousands):
		March 31, 2015			December 31, 2014
	Buildings and plant	$	269,090		$	268,032
	Machinery and equipment	530,332			529,358
	Vehicles	13,581			13,799
	Office equipment and improvements	19,363			19,260
	Ponds and land improvements	74,636			73,933
	Total depreciable assets	907,002			904,382
	Accumulated depreciation	(288,768		)	(271,294		)
	Total depreciable assets, net	$	618,234		$	633,088
	Mineral properties and development costs	$	163,741		$	163,197
	Accumulated depletion	(19,508		)	(17,544		)
	Total depletable assets, net	$	144,233		$	145,653
	Land	909			909
	Construction in progress	$	6,812		$	5,600
	Total property, plant, equipment, and mineral properties, net	$	770,188		$	785,250
	We incurred the following expenses for depreciation, depletion, and accretion, including expenses capitalized into inventory, for the following periods (in thousands):
		Three Months Ended March 31,
		2015			2014
	Depreciation	$	18,879		$	18,260
	Depletion	1,973			983
	Accretion	424			406
	Total incurred	$	21,276		$	19,649

DEBT

DEBT	3 Months Ended
	Mar. 31, 2015
Debt Disclosure [Abstract]
DEBT	DEBT
	Unsecured Credit Facility— We have an unsecured credit facility, led by U.S. Bank, as administrative agent, and Wells Fargo Bank, as syndication agent. This unsecured revolving credit facility provides credit of up to $250 million. The actual amount available to us is limited by our leverage ratio, which may not exceed 3.5, and our fixed charge coverage ratio, which may not be below 1.3. As of March 31, 2015, the full amount of the facility was available to us.
	Under the facility, the leverage ratio is defined as the ratio of total funded indebtedness to adjusted EBITDA (earnings before interest, income taxes, depreciation, amortization, and certain other expenses) for the prior four fiscal quarters. The fixed charge coverage ratio is defined as the ratio of adjusted EBITDA for the prior four fiscal quarters to fixed charges.
	The facility is unsecured and is guaranteed by our material subsidiaries. The facility has a maturity date of August 2018. As of March 31, 2015, and December 31, 2014, there were no amounts outstanding under the facility. We were in compliance with the covenants under the credit facility as of March 31, 2015.
	Unsecured Senior Notes—In April 2013, we issued $150 million aggregate principal amount of unsecured senior notes ("the Notes") pursuant to a note purchase agreement entered into in August 2012. We received proceeds of $149.3 million, net of offering costs. The Notes consist of the following series:
	•	$60 million of 3.23% Senior Notes, Series A, due April 16, 2020
	•	$45 million of 4.13% Senior Notes, Series B, due April 14, 2023
	•	$45 million of 4.28%Senior Notes, Series C, due April 16, 2025
	The Notes are senior unsecured obligations and rank equally in right of payment with any other unsubordinated unsecured indebtedness of ours. The Notes are subject to the same leverage ratio and fixed charge coverage ratio as apply under the credit facility. The obligations under the Notes are unconditionally guaranteed by our material subsidiaries.
	We were in compliance with the covenants under the Notes as of March 31, 2015.
	Interest is paid semiannually on April 16 and October 16 of each year. Interest expense is recorded net of any capitalized interest associated with investments in capital projects. We incurred gross interest expense of $1.7 million for both the three months ended March 31, 2015, and 2014. We capitalized $23,000 and $0.3 million of interest during the three months ended March 31, 2015, and 2014, respectively.

ASSET_RETIREMENT_OBLIGATION

ASSET RETIREMENT OBLIGATION	3 Months Ended
	Mar. 31, 2015
Asset Retirement Obligation Disclosure [Abstract]
ASSET RETIREMENT OBLIGATION	ASSET RETIREMENT OBLIGATION
	We recognize an estimated liability for future costs associated with the abandonment and reclamation of our mining properties. A liability for the fair value of an asset retirement obligation and a corresponding increase to the carrying value of the related long-lived asset are recorded as the mining operations occur or the assets are acquired.
	Our asset retirement obligation is based on the estimated cost to abandon and reclaim the mining operations, the economic life of the properties, and federal and state regulatory requirements. The liability is discounted using credit adjusted risk-free rate estimates at the time the liability is incurred or when there are upward revisions to estimated costs. The credit adjusted risk-free rates used to discount our abandonment liabilities range from 6.9% to 8.5%. Revisions to the liability occur due to construction of new or expanded facilities, changes in estimated abandonment costs or economic lives, or if federal or state regulators enact new requirements regarding the abandonment or reclamation of mines.
	Following is a table of the changes to our asset retirement obligation for the following periods (in thousands):
		Three Months Ended March 31,
		2015		2014
	Asset retirement obligation, at beginning of period	$	22,037	$	21,047
	Liabilities settled	—		(77		)
	Liabilities incurred	—		—
	Changes in estimated obligations	—		—
	Accretion of discount	424		406
	Total asset retirement obligation, at end of period	$	22,461	$	21,376
	The current portion of the asset retirement obligation of $1.6 million is included in "Other" current liabilities on the condensed consolidated balance sheets as of March 31, 2015, and December 31, 2014. The undiscounted amount of asset retirement obligation is $57.7 million as of March 31, 2015.

COMPENSATION_PLANS

COMPENSATION PLANS	3 Months Ended
	Mar. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
COMPENSATION PLANS	COMPENSATION PLANS
	Cash Bonus Plan—We have cash bonus plans that allow participants to receive varying percentages of their aggregate base salary. Any awards under the cash bonus plans are based on a variety of elements related to our performance in certain production, operational, financial, and other areas, as well as the participants’ individual performance. We accrue cash bonus expense related to the current year’s performance.
	Equity Incentive Compensation Plan—Our Board of Directors and stockholders adopted a long-term incentive compensation plan called the Intrepid Potash, Inc. Equity Incentive Plan, as Amended and Restated (the "Plan"). We have issued common stock, restricted shares of common stock, performance units, and non-qualified stock option awards under the Plan. As of March 31, 2015, the following awards were outstanding under the plan: 481,288 shares of non-vested restricted shares of common stock; non-vested performance units representing 383,447 shares of common stock; and options to purchase 319,972 shares of common stock. As of March 31, 2015, approximately 2.9 million shares of common stock remained available for issuance under the Plan.
	Common Stock—On an annual basis, under the Plan, the Compensation Committee of the Board of Directors (the "Compensation Committee") has approved the award of shares of common stock to the non-employee members of the Board of Directors as compensation for service for the period ending on the date of our annual stockholders’ meeting for the following year. These shares of common stock were granted without restrictions and vested immediately.
	Non-vested Restricted Shares of Common Stock—Under the Plan, grants of non-vested restricted shares of common stock have been awarded to executive officers, other key employees, and consultants. The awards contain service conditions associated with continued employment or service. The terms of the non-vested restricted shares of common stock provide voting and regular dividend rights to the holders of the awards. Upon vesting, the restrictions on the restricted shares of common stock lapse and the shares are considered issued and outstanding.
	Since 2009, the Compensation Committee has granted restricted shares of common stock under the Plan in the first quarter of each year to our executive management team and other selected employees as part of an annual equity award program. These awards vest ratably over three years. From time to time, the Compensation Committee grants restricted shares of common stock to newly hired or promoted employees or other employees or consultants who have achieved extraordinary personal performance objectives. These restricted shares of common stock generally vest over one- to four-year periods.
	In measuring compensation expense associated with the grant of non-vested restricted shares of common stock, we use the fair value of the award, determined as the closing stock price for our common stock on the grant date. Compensation expense is recorded monthly over the vesting period of the award. Total compensation expense related to the non-vested restricted shares of common stock awards was $0.9 million and $0.8 million for the three months ended March 31, 2015, and 2014, respectively. These amounts are net of estimated forfeiture adjustments. As of March 31, 2015, there was $6.8 million of total remaining unrecognized compensation expense related to non-vested restricted shares of common stock that will be expensed through 2018.
	A summary of activity relating to our non-vested restricted shares of common stock for the three months ended March 31, 2015, is presented below.
					Weighted Average
			Shares		Grant-Date Fair Value
	Non-vested restricted shares of common stock, beginning of period		464,769		$	16.49
	Granted		237,256		$	14.28
	Vested		(198,141	)	$	17.8
	Forfeited		(22,596	)	$	15.44
	Non-vested restricted shares of common stock, end of period		481,288		$	14.91
	Performance Units—In 2015, the Compensation Committee granted at-risk performance units under the Plan to a member of our executive team as part of their annual compensation package. The performance units vest in February 2018 and contain market-based conditions relating to one-, two- and three-year performance periods beginning on the grant date. A total of 378,150 shares of common stock are available for future payout under these performance units, subject to continued employment through the vesting date.
	In 2013 and 2012, the Compensation Committee granted performance units under the Plan to certain members of our executive management team as part of the annual equity award program. The performance units vest ratably over three years and contain operational- and market-based conditions relating to the year of grant. The time frames for meeting both the operational- and market-based conditions of the 2013 and 2012 grants have passed, and a total of 5,297 shares of common stock are available for future payout under these performance units, subject to continued employment of the individual grantees through the vesting dates.
	Non-qualified Stock Options—From 2009 to 2011, the Compensation Committee issued non-qualified stock options under the Plan in the first quarter of each year to our executive management and other selected employees as part of our annual award program. These stock options generally vested ratably over three years. In measuring compensation expense for options, we estimated the fair value of the award on the grant dates using the Black‑Scholes option valuation model. Option valuation models require the input of highly subjective assumptions, including the expected volatility of the price of the underlying stock.
	As of March 31, 2014, all outstanding stock options were fully vested. Realized tax benefits from tax deductions for exercised options in excess of the deferred tax asset attributable to stock compensation for these options are recorded as “excess tax benefits” when the tax deductions occur.
	A summary of our stock option activity for the three months ended March 31, 2015, is as follows:
			Shares		Weighted Average Exercise Price		Aggregate Intrinsic Value (1)	Weighted Average Remaining Contractual Life	Weighted Average Grant-Date Fair Value
	Outstanding non-qualified stock
	options, end of period		319,972		$26.16		$—	3.4	$13.05
	Vested or expected to vest, end
	of period		319,972		$26.16		$—	3.4	$13.05
	Exercisable non-qualified
	stock options, end of period		319,972		$26.16		$—	3.4	$13.05
	-1	The intrinsic value of a stock option is the amount by which the market value exceeds the exercise price as of the end of the period presented.

INCOME_TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2015
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES
	Our effective tax rate is impacted primarily by the amount of taxable income associated with each jurisdiction in which our income is subject to income tax, permanent differences between the financial statement carrying amounts and tax bases of assets and liabilities.
	A summary of the provision for income taxes is as follows (in thousands):
		Three Months Ended March 31,
		2015			2014
	Current portion of income tax expense (benefit)	$	114		$	—
	Deferred portion of income tax expense (benefit)	2,957			(2,778		)
	Total income tax expense (benefit)	$	3,071		$	(2,778	)
	Effective tax rate	32		%	(88.7		)%
	During the three months ended March 31, 2015, our effective tax rate differed from the statutory rate primarily as a result of the benefit from estimated depletion deductions. During the three months ended March 31, 2014, in addition to the items noted above, we also benefited from a discrete adjustment related to the reversal of a $1.7 million valuation allowance related to our New Mexico net operating loss carry forwards, as those carry forwards became realizable based on legislation passed by the State of New Mexico in the first quarter of 2014.
	The blended state tax rate applied to the deferred tax calculation is subject to change due to changes in state laws and changes in the mix of our business and the states in which we have a taxable relationship. This creates fluctuations in the value of our net deferred tax asset.

COMMITMENTS_AND_CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES
	Marketing Agreements—We have a marketing agreement appointing PCS Sales (USA), Inc. (“PCS Sales”) as our exclusive sales representative for potash export sales, with the exception of sales to Canada and Mexico, and appointing PCS Sales as our non-exclusive sales representative for potash sales into Mexico. Trio® is also marketed under this arrangement. This agreement is cancelable with 30 days' written notice.
	Reclamation Deposits and Surety Bonds—As of March 31, 2015, we had $18.0 million of security placed principally with the State of Utah and the Bureau of Land Management for eventual reclamation of our various facilities. Of this total requirement, as of March 31, 2015, $0.5 million consisted of long-term restricted cash deposits reflected in “Other” long-term assets on the condensed consolidated balance sheets, and $17.5 million was secured by surety bonds issued by an insurer. The surety bonds are held in place by an annual fee paid to the issuer.
	We may be required to post additional security to fund future reclamation obligations as reclamation plans are updated or as governmental entities change requirements.
	New Mexico Employment Credits—Beginning in 2011, based on an approval and payment of an application with the State of New Mexico, we began recording an estimate of refundable employment-related credits for qualified wages paid in New Mexico, known as the New Mexico High Wage Jobs Credit. The estimated recoverable value of these credits has been, and continues to be, reflected as a reduction to production costs and amounts yet to be collected are recorded in “Other receivables” in the condensed consolidated balance sheets in the same period in which the credit is earned.
	In the third quarter of 2013, the New Mexico Taxation and Revenue Department denied our application to receive the New Mexico High Wage Jobs Credit for certain prior years' filings. Considering the uncertainty associated with collection of these credits, we recorded an additional allowance of approximately $2.8 million in the third quarter of 2013, for credits relating to the denied periods in order to reflect the denial of the claimed credits. In March 2014, as a result of our continuing efforts to collect these credits, we received notification from the New Mexico Taxation and Revenue Department that $5.9 million of credits previously denied were approved. Accordingly, during the first quarter of 2014, we reversed $2.9 million of the previously established allowance to reflect the collectability of these credits. These credits are typically considered in our product inventory calculations as they relate to the labor associated with operations. As the inventory associated with the periods during which the credits were originally earned has since been sold, we recorded the reversal of the allowance as "Other (income) expense" in the condensed consolidated statement of operations for the three months ended March 31, 2014. As of March 31, 2015, we have a receivable of $2.0 million, net of an allowance of $0.7 million, associated with the New Mexico High Wage Jobs Credits and we intend to continue to vigorously pursue recovery of all unpaid credits.
	Legal—We are subject to litigation. We have determined that there are no material claims outstanding as of March 31, 2015. We have established a legal accrual for loss contingencies that are considered probable and reasonably estimable.
	Future Operating Lease Commitments—We have operating leases for land, mining and other operating equipment, an airplane, offices, and railcars, with original terms ranging up to 20 years.
	Rental and lease expenses follow for the indicated periods (in thousands):
	For the three months ended March 31, 2015	$	1,744
	For the three months ended March 31, 2014	$	1,582

FAIR_VALUE

FAIR VALUE	3 Months Ended
	Mar. 31, 2015
Fair Value Disclosures [Abstract]
FAIR VALUE	FAIR VALUE MEASUREMENTS
	We applied the provisions of the Financial Accounting Standards Board ("FASB") Accounting Standards Codification™ (“ASC”) Topic 820, Fair Value Measurements and Disclosures, for all financial assets and liabilities measured at fair value on a recurring basis. The topic establishes a framework for measuring fair value and requires disclosures about fair value measurements. ASC Topic 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the measurement date. The topic establishes market or observable inputs as the preferred sources of values, followed by assumptions based on hypothetical transactions in the absence of market inputs. The topic also establishes a hierarchy for grouping these assets and liabilities based on the significance level of the following inputs, as follows:
	•	Level 1—Quoted prices in active markets for identical assets and liabilities.
	•	Level 2—Quoted prices in active markets for similar assets and liabilities, quoted prices for identical or similar instruments in markets that are not active, and model‑derived valuations whose inputs are observable or whose significant value drivers are observable.
	•	Level 3—Significant inputs to the valuation model are unobservable.
	The following is a listing of our assets and liabilities required to be measured at fair value on a recurring basis and where they are classified within the hierarchy as of March 31, 2015, and December 31, 2014 (in thousands):
					Fair Value at Reporting Date Using
			31-Mar-15		Quoted Prices in Active Markets for Identical Assets or Liabilities		Significant Observable Inputs		Significant Unobservable Inputs
					(Level 1)		(Level 2)		(Level 3)
	Investments
	Corporate bonds		$	44,853	$	—	$	44,853	$	—
					Fair Value at Reporting Date Using
			December 31, 2014		Quoted Prices in Active Markets for Identical Assets or Liabilities		Significant Observable Inputs		Significant Unobservable Inputs
					(Level 1)		(Level 2)		(Level 3)
	Investments
	Corporate bonds		$	21,288	$	—	$	21,288	$	—
	Financial assets or liabilities are categorized within the hierarchy based upon the lowest level of input that is significant to the fair value measurement. Below is a general description of our valuation methodologies for financial assets and liabilities, which are measured at fair value and are included on the condensed consolidated balance sheets.
	Our available-for-sale investments consist of corporate bonds that are valued using Level 2 inputs. Market pricing for these investments is obtained from an established financial markets data provider.
	The methods described above may result in a fair value estimate that may not be indicative of net realizable value or may not be reflective of future fair values and cash flows. While we believe that the valuation methods used are appropriate and consistent with the requirements of ASC Topic 820 and the methods used by other marketplace participants, we recognize that third parties may use different methodologies or assumptions to determine the fair value of certain financial instruments that could result in a different estimate of fair value at the reporting date.
	Financial Instruments—The carrying values and estimated fair values of our financial instruments as of March 31, 2015, and December 31, 2014, are as follows (in thousands):
			March 31, 2015				December 31, 2014
			Carrying Value		Fair Value		Carrying Value		Fair Value
	Long-term debt		$	150,000	$	140,000	$	150,000	$	138,000
	For cash and cash equivalents, certificate of deposit investments, accounts receivable, refundable income taxes, and accounts payable, the carrying amount approximates fair value because of the short-term maturity of these instruments. The estimated fair value of the long-term debt is estimated using a discounted cash flow analysis based on current borrowing rates for debt with similar remaining maturities and ratings (a Level 2 input) and is designed to approximate the amount at which the instruments could be exchanged in an arm's length transaction between knowledgeable willing parties.

RESTRUCTURING_CHARGE

RESTRUCTURING CHARGE	3 Months Ended
	Mar. 31, 2015
Restructuring Charge [Abstract]
RESTRUCTURING CHARGE	RESTRUCTURING CHARGE
	In January 2014, in response to declining potash prices and completion of our major capital projects, we undertook a number of cost saving actions that were intended to better align our cost structure with the business environment. These initiatives included the elimination of approximately 7% of the workforce, reduction in the use of outside professionals, and cutbacks in other general and administrative areas. In early 2014, we also temporarily decreased executive and senior management compensation; we reinstated most executive and senior management salaries in mid-2014 and reinstated other compensation elements in 2015. For the three months ended March 31, 2014, we recognized a restructuring expense of $1.8 million, which is comprised primarily of severance-related payments.

RECENT_ACCOUNTING_PRONOUNCEMEN

RECENT ACCOUNTING PRONOUNCEMENTS	3 Months Ended
	Mar. 31, 2015
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTS	RECENT ACCOUNTING PRONOUNCEMENTS
	In May 2014, the FASB issued Accounting Standards Update No. 2014-09, “Revenue from Contracts with Customers (Topic 606),” which requires revenue to be recognized based on the amount an entity is expected to be entitled to for promised goods or services provided to customers. The standard also requires expanded disclosures regarding contracts with customers. The guidance in this standard supersedes the revenue recognition requirements in Topic 605, "Revenue Recognition", and most industry-specific guidance. This guidance is effective for us beginning January 1, 2017, with retrospective application required, subject to certain practical expedients. We are currently evaluating the requirements of this standard, and have not yet determined the impact on our results of operations or financial position.

SUMMARY_OF_SIGNIFICANT_ACCOUNT1

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
Principles of Consolidation	consolidated financial statements include our accounts and those of our wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. In the opinion of management, all adjustments, consisting of normal recurring accruals considered necessary for a fair presentation of interim financial information, have been included.
Use of Estimates	The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities as of the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. We base our estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Accordingly, actual results may differ significantly from these estimates under different assumptions or conditions.
	Significant estimates include, but are not limited to, those for proven and probable mineral reserves, the related present value of estimated future net cash flows, useful lives of plant assets, asset retirement obligations, normal inventory production levels, inventory valuations, the valuation of equity awards, the valuation of receivables, valuation of our deferred tax assets and estimated blended income tax rates utilized in the current and deferred income tax calculations. There are numerous uncertainties inherent in estimating quantities of proven and probable reserves, projecting future rates of production, and the timing of development expenditures. Future mineral prices may vary significantly from the prices in effect at the time the estimates are made, as may estimates of future operating costs. The estimate of proven and probable mineral reserves, the related present value of estimated future cash flows, and useful lives of plant assets can affect various other items including depletion, the net carrying value of our mineral properties, the useful lives of related property, plant, and equipment, depreciation expense, and estimates associated with recoverability of long-lived assets and asset retirement obligations. Specific to income tax items, we experience fluctuations in the valuation of the deferred tax assets and liabilities due to changing state income tax rates and the blend of state tax rates.
Revenue Recognition	Revenue is recognized when evidence of an arrangement exists, risks and rewards of ownership have been transferred to customers, which is generally when title passes, the selling price is fixed and determinable, and collection is reasonably assured. Title passes at the designated shipping point for the majority of sales, but, in a few cases, title passes at the delivery destination. The shipping point may be the plant, a distribution warehouse, a customer warehouse, or a port. Title passes for some international shipments upon payment by the purchaser; however, revenue is not recognized for these transactions until shipment because the risks and rewards of ownership have not transferred pursuant to a contractual arrangement. Prices are generally set at the time of, or prior to, shipment. In cases where the final price is determined upon resale of the product by the customer, revenue is deferred until the final sales price is known.
	Sales are reported on a gross basis. We quote prices to customers both on a delivered basis and on the basis of pick-up at our plants and warehouses. When a sale occurs on a delivered basis, we incur and, in turn, bill the customer and record as gross revenue the product sales value, freight, packaging, and certain other distribution costs. Many customers, however, arrange and pay for these costs directly and, in these situations, only the product sales are included in gross revenues.
By-Product Credits	When by-product inventories are sold, we record the sale of by-products as a credit to cost of goods sold.
Fair Value of Financial Instruments	financial instruments include cash and cash equivalents, short-term and long-term investments, restricted cash, accounts receivable, refundable income taxes, and accounts payable. These instruments are carried at cost, which approximates fair value due to the short-term maturities of the instruments. All available-for-sale investments are carried at fair value. Allowances for doubtful accounts are recorded against the accounts receivable balance to estimate net realizable value. The fair value of the long-term debt is estimated using discounted cash flow analysis based on current borrowing rates for debt with similar remaining maturities and ratings. Although there are no amounts currently outstanding under our unsecured credit facility, any borrowings that become outstanding would bear interest at a floating rate and therefore be recorded at their estimated fair value.
(Loss) Earnings per Share	Basic net income or loss per common share of stock is calculated by dividing net income or loss available to common stockholders by the weighted average basic common shares outstanding for the respective period.
	Diluted net income or loss per common share of stock is calculated by dividing net income or loss by the weighted average diluted common shares outstanding, which includes the effect of potentially dilutive securities. Potentially dilutive securities for the diluted earnings or loss per share calculation consist of awards of non-vested restricted shares of common stock, non-vested performance units, and non-qualified stock options. The dilutive effect of stock based compensation arrangements are computed using the treasury stock method. Following the lapse of the vesting period of restricted shares of common stock, the shares are considered issued and therefore are included in the number of issued and outstanding shares for purposes of these calculations.

EARNINGS_PER_SHARE_Tables

EARNINGS PER SHARE (Tables)	3 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
Schedule of Calculation of Basic and Diluted Loss or Earnings Per Share	The following table sets forth the calculation of basic and diluted earnings per share (in thousands, except per share amounts):
		Three Months Ended March 31,
		2015		2014
	Net income (loss)	$	6,529	$	(355	)
	Basic weighted average common shares outstanding	75,589		75,445
	Add: Dilutive effect of non-vested restricted common stock	110		—
	Add: Dilutive effect of performance units	8		—
	Diluted weighted average common shares outstanding	75,707		75,445
	Earnings (Loss) per share:
	Basic	$	0.09	$	0
	Diluted	$	0.09	$	0

CASH_CASH_EQUIVALENTS_AND_INVE1

CASH, CASH EQUIVALENTS, AND INVESTMENTS (Tables)	3 Months Ended
	Mar. 31, 2015
Cash, Cash Equivalents, and Investments Disclosure [Abstract]
Summary of Cash, Cash Equivalents, and Investments	The following table summarizes the fair value of our cash and investments held in our portfolio, recorded as cash and cash equivalents or short-term or long-term investments as of March 31, 2015, and December 31, 2014 (in thousands):
		March 31, 2015			December 31, 2014
	Cash	$	24,213		$	16,506
	Commercial paper and money market accounts	42,573			51,083
	Total cash and cash equivalents	$	66,786		$	67,589
	Corporate bonds	$	33,307		$	9,432
	Certificates of deposit and time deposits	1,003			1,002
	Total short-term investments	$	34,310		$	10,434
	Corporate bonds	$	11,546		$	11,856
	Total long-term investments	$	11,546		$	11,856
	Total cash, cash equivalents, and investments	$	112,642		$	89,879
Schedule of Available-for-Sale Investments	The following tables summarize the cost basis, unrealized gains and losses, and fair value of our available-for-sale investments held in our portfolio as of March 31, 2015, and December 31, 2014 (in thousands):
			March 31, 2015
						Unrealized
			Cost Basis			Gain		Loss			Fair Value
	Corporate bonds		$	44,884		$	12	$	(43	)	$	44,853
	Certificates of deposit and time deposits		1,003			—		—			1,003
	Total available-for-sale securities		$	45,887		$	12	$	(43	)	$	45,856
			December 31, 2014
						Unrealized
			Cost Basis			Gain		Loss			Fair Value
	Corporate bonds		$	21,335		$	1	$	(48	)	$	21,288
	Certificates of deposit and time deposits		1,002			—		—			1,002
	Total available-for-sale securities		$	22,337		$	1	$	(48	)	$	22,290

INVENTORY_AND_LONGTERM_PARTS_I1

INVENTORY AND LONG-TERM PARTS INVENTORY (Tables)	3 Months Ended
	Mar. 31, 2015
Inventory Disclosure [Abstract]
Summary of Inventory	The following summarizes our inventory, recorded at the lower of weighted average cost or estimated net realizable value, as of March 31, 2015, and December 31, 2014, respectively (in thousands):
		March 31, 2015		December 31, 2014
	Finished goods product inventory	$	39,013	$	44,137
	In-process mineral inventory	14,799		19,584
	Total product inventory	53,812		63,721
	Current parts inventory, net	20,634		20,373
	Total current inventory, net	74,446		84,094
	Long-term parts inventory, net	17,700		16,366
	Total inventory, net	$	92,146	$	100,460

PROPERTY_PLANT_EQUIPMENT_AND_M1

PROPERTY, PLANT, EQUIPMENT, AND MINERAL PROPERTIES (Tables)	3 Months Ended
	Mar. 31, 2015
Property Plant and Equipment and Mineral Properties Disclosure [Abstract]
Schedule of Property, Plant, Equipment, and Mineral Properties	“Property, plant, equipment, and mineral properties, net" were comprised of the following (in thousands):
		March 31, 2015			December 31, 2014
	Buildings and plant	$	269,090		$	268,032
	Machinery and equipment	530,332			529,358
	Vehicles	13,581			13,799
	Office equipment and improvements	19,363			19,260
	Ponds and land improvements	74,636			73,933
	Total depreciable assets	907,002			904,382
	Accumulated depreciation	(288,768		)	(271,294		)
	Total depreciable assets, net	$	618,234		$	633,088
	Mineral properties and development costs	$	163,741		$	163,197
	Accumulated depletion	(19,508		)	(17,544		)
	Total depletable assets, net	$	144,233		$	145,653
	Land	909			909
	Construction in progress	$	6,812		$	5,600
	Total property, plant, equipment, and mineral properties, net	$	770,188		$	785,250
Schedule of Depreciation, Depletion, and Accretion	We incurred the following expenses for depreciation, depletion, and accretion, including expenses capitalized into inventory, for the following periods (in thousands):
		Three Months Ended March 31,
		2015			2014
	Depreciation	$	18,879		$	18,260
	Depletion	1,973			983
	Accretion	424			406
	Total incurred	$	21,276		$	19,649

ASSET_RETIREMENT_OBLIGATION_Ta

ASSET RETIREMENT OBLIGATION (Tables)	3 Months Ended
	Mar. 31, 2015
Asset Retirement Obligation Disclosure [Abstract]
Schedule of Changes to Asset Retirement Obligation	Following is a table of the changes to our asset retirement obligation for the following periods (in thousands):
		Three Months Ended March 31,
		2015		2014
	Asset retirement obligation, at beginning of period	$	22,037	$	21,047
	Liabilities settled	—		(77		)
	Liabilities incurred	—		—
	Changes in estimated obligations	—		—
	Accretion of discount	424		406
	Total asset retirement obligation, at end of period	$	22,461	$	21,376

COMPENSATION_PLANS_Tables

COMPENSATION PLANS (Tables)	3 Months Ended
	Mar. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of Non-Vested Restricted Common Stock Activity	A summary of activity relating to our non-vested restricted shares of common stock for the three months ended March 31, 2015, is presented below.
				Weighted Average
		Shares		Grant-Date Fair Value
	Non-vested restricted shares of common stock, beginning of period	464,769		$	16.49
	Granted	237,256		$	14.28
	Vested	(198,141	)	$	17.8
	Forfeited	(22,596	)	$	15.44
	Non-vested restricted shares of common stock, end of period	481,288		$	14.91
Summary of Stock Option Activity	A summary of our stock option activity for the three months ended March 31, 2015, is as follows:
		Shares		Weighted Average Exercise Price		Aggregate Intrinsic Value (1)	Weighted Average Remaining Contractual Life	Weighted Average Grant-Date Fair Value
	Outstanding non-qualified stock
	options, end of period	319,972		$26.16		$—	3.4	$13.05
	Vested or expected to vest, end
	of period	319,972		$26.16		$—	3.4	$13.05
	Exercisable non-qualified
	stock options, end of period	319,972		$26.16		$—	3.4	$13.05

INCOME_TAXES_Tables

INCOME TAXES (Tables)	3 Months Ended
	Mar. 31, 2015
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax (Benefit) Expense	A summary of the provision for income taxes is as follows (in thousands):
		Three Months Ended March 31,
		2015			2014
	Current portion of income tax expense (benefit)	$	114		$	—
	Deferred portion of income tax expense (benefit)	2,957			(2,778		)
	Total income tax expense (benefit)	$	3,071		$	(2,778	)
	Effective tax rate	32		%	(88.7		)%

COMMITMENTS_AND_CONTINGENCIES_

COMMITMENTS AND CONTINGENCIES (Tables)	3 Months Ended
	Mar. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Schedule of Rental and Lease Expense	Rental and lease expenses follow for the indicated periods (in thousands):
	For the three months ended March 31, 2015	$	1,744
	For the three months ended March 31, 2014	$	1,582

FAIR_VALUE_Tables

FAIR VALUE (Tables)	3 Months Ended
	Mar. 31, 2015
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis	The following is a listing of our assets and liabilities required to be measured at fair value on a recurring basis and where they are classified within the hierarchy as of March 31, 2015, and December 31, 2014 (in thousands):
				Fair Value at Reporting Date Using
		31-Mar-15		Quoted Prices in Active Markets for Identical Assets or Liabilities		Significant Observable Inputs		Significant Unobservable Inputs
				(Level 1)		(Level 2)		(Level 3)
	Investments
	Corporate bonds	$	44,853	$	—	$	44,853	$	—
				Fair Value at Reporting Date Using
		December 31, 2014		Quoted Prices in Active Markets for Identical Assets or Liabilities		Significant Observable Inputs		Significant Unobservable Inputs
				(Level 1)		(Level 2)		(Level 3)
	Investments
	Corporate bonds	$	21,288	$	—	$	21,288	$	—
Fair Value, by Balance Sheet Grouping	The carrying values and estimated fair values of our financial instruments as of March 31, 2015, and December 31, 2014, are as follows (in thousands):
		March 31, 2015				December 31, 2014
		Carrying Value		Fair Value		Carrying Value		Fair Value
	Long-term debt	$	150,000	$	140,000	$	150,000	$	138,000

COMPANY_BACKGROUND_Narrative_D

COMPANY BACKGROUND (Narrative) (Details)	3 Months Ended
	Mar. 31, 2015
	Reporting_Segments
	Mines
Company Background
Number of solution mines	3
Number of conventional underground mines	2
Number of reporting segments	1

EARNINGS_PER_SHARE_Narrative_D

EARNINGS PER SHARE (Narrative) (Details)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Restricted Stock
Anti-dilutive weighted average non-vested shares
Anti-dilutive weighted average non-vested shares (in shares)	91,621	571,609
Stock Options
Anti-dilutive weighted average non-vested shares
Anti-dilutive weighted average non-vested shares (in shares)	320,926	335,935
Performance Units
Anti-dilutive weighted average non-vested shares
Anti-dilutive weighted average non-vested shares (in shares)	73,529	19,874

EARNINGS_PER_SHARE_Schedule_of

EARNINGS PER SHARE (Schedule of Calculation of Basic and Diluted Loss or Earnings Per Share) (Details) (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Earnings Per Share [Abstract]
Net (loss) income	$6,529	($355)
Basic weighted average common shares outstanding (in shares)	75,589,092	75,444,953
Add: Dilutive effect of non-vested restricted common stock (in shares)	110,000	0
Add: Dilutive effect of performance units (in shares)	8,000	0
Diluted weighted average common shares outstanding (in shares)	75,707,000	75,444,953
(Loss) Earnings per share:
Basic (in dollars per share)	$0.09	$0
Diluted (in dollars per share)	$0.09	$0

CASH_CASH_EQUIVALENTS_AND_INVE2

CASH, CASH EQUIVALENTS, AND INVESTMENTS (Summary of Cash, Cash Equivalents, and Investments) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Investment [Line Items]
Cash and cash equivalents	$66,786	$67,589	$3,234	$394
Short-term investments	34,310	10,434
Long-term investments	11,546	11,856
Cash, cash equivalents, and investments	112,642	89,879
Cash
Investment [Line Items]
Cash and cash equivalents	24,213	16,506
Commercial paper and money market accounts
Investment [Line Items]
Cash and cash equivalents	42,573	51,083
Corporate bonds
Investment [Line Items]
Short-term investments	33,307	9,432
Long-term investments	11,546	11,856
Certificates of deposit and time deposits
Investment [Line Items]
Short-term investments	$1,003	$1,002

CASH_CASH_EQUIVALENTS_AND_INVE3

CASH, CASH EQUIVALENTS, AND INVESTMENTS (Schedule of Available-for-Sale Investments) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Fair value of cash, cash equivalents, and investments
Available-for-sale Securities, Amortized Cost Basis	$45,887	$22,337
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax	12	1
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax	43	48
Available-for-sale Securities, Fair Value Disclosure	45,856	22,290
Corporate bonds
Fair value of cash, cash equivalents, and investments
Available-for-sale Securities, Amortized Cost Basis	44,884	21,335
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax	12	1
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax	43	48
Available-for-sale Securities, Fair Value Disclosure	44,853	21,288
Certificates of deposit and time deposits
Fair value of cash, cash equivalents, and investments
Available-for-sale Securities, Amortized Cost Basis	1,003	1,002
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax	0	0
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax	0	0
Available-for-sale Securities, Fair Value Disclosure	$1,003	$1,002

CASH_CASH_EQUIVALENTS_AND_INVE4

CASH, CASH EQUIVALENTS, AND INVESTMENTS (Narrative) (Details) (USD $)	3 Months Ended
	Mar. 31, 2014
Cash and Cash Equivalents [Abstract]
Available-for-sale Securities, Gross Realized Losses	$1,000

INVENTORY_AND_LONGTERM_PARTS_I2

INVENTORY AND LONG-TERM PARTS INVENTORY (Summary of Inventory) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Inventory Disclosure [Abstract]
Finished goods product inventory, net	$39,013	$44,137
In-process mineral inventory	14,799	19,584
Total product inventory, net	53,812	63,721
Current parts inventory	20,634	20,373
Total current inventory, net	74,446	84,094
Long-term parts inventory	17,700	16,366
Total inventory, net	$92,146	$100,460

INVENTORY_AND_LONGTERM_PARTS_I3

INVENTORY AND LONG-TERM PARTS INVENTORY (Narrative) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Inventory [Line Items]
Lower-of-cost-or-market inventory adjustments	$360	$3,566

PROPERTY_PLANT_EQUIPMENT_AND_M2

PROPERTY, PLANT, EQUIPMENT, AND MINERAL PROPERTIES (Schedule of Property, Plant, Equipment, and Mineral Properties) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Property, plant, equipment, and mineral properties
Property, Plant and Equipment, Gross	$907,002	$904,382
Accumulated depreciation	-288,768	-271,294
Depreciable assets, net	618,234	633,088
Mineral properties and development costs	163,741	163,197
Accumulated depletion	-19,508	-17,544
Total depletable assets, net	144,233	145,653
Property, Plant, Equipment and Mineral Properties, Net	770,188	785,250
Building and Building Improvements [Member]
Property, plant, equipment, and mineral properties
Property, Plant and Equipment, Gross	269,090	268,032
Machinery and Equipment [Member]
Property, plant, equipment, and mineral properties
Property, Plant and Equipment, Gross	530,332	529,358
Vehicles [Member]
Property, plant, equipment, and mineral properties
Property, Plant and Equipment, Gross	13,581	13,799
Office Equipment [Member]
Property, plant, equipment, and mineral properties
Property, Plant and Equipment, Gross	19,363	19,260
Land Improvements [Member]
Property, plant, equipment, and mineral properties
Property, Plant and Equipment, Gross	74,636	73,933
Land [Member]
Property, plant, equipment, and mineral properties
Land	909	909
Construction in Progress [Member]
Property, plant, equipment, and mineral properties
Construction in Progress, Gross	$6,812	$5,600

PROPERTY_PLANT_EQUIPMENT_AND_M3

PROPERTY, PLANT, EQUIPMENT, AND MINERAL PROPERTIES (Schedule of Depreciation, Depletion, and Accretion) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Property, Plant and Equipment [Abstract]
Depreciation	$18,879	$18,260
Depletion	1,973	983
Accretion	424	406
Total incurred	$21,276	$19,649

DEBT_Narrative_Details

DEBT (Narrative) (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Debt
Long-term Line of Credit	$0		$0
Line of Credit Facility, Current Borrowing Capacity	250,000,000
Debt Instrument, Face Amount	150,000,000	150,000,000
Proceeds from Notes Payable		149,300,000
Interest Costs Incurred	1,700,000	1,700,000
Capitalized Interest	0	300,000
Series A Senior Notes
Debt
Debt Instrument, Face Amount	60,000,000	60,000,000
Debt Instrument, Interest Rate, Stated Percentage	3.23%	3.23%
Series B Senior Notes
Debt
Debt Instrument, Face Amount	45,000,000	45,000,000
Debt Instrument, Interest Rate, Stated Percentage	4.13%	4.13%
Series C Senior Notes
Debt
Debt Instrument, Face Amount	45,000,000	45,000,000
Debt Instrument, Interest Rate, Stated Percentage	4.28%	4.28%
Unsecured credit facility
Debt
Line of Credit Facility, Maximum Borrowing Capacity	250,000,000	250,000,000
Maximum allowable leverage ratio	3.5
Minimum allowable fixed charge coverage ratio	1.3
Line of Credit Facility, Borrowings	0	17,000,000
Line of Credit Facility, Repayments	$0	$17,000,000

ASSET_RETIREMENT_OBLIGATION_Na

ASSET RETIREMENT OBLIGATION (Narrative) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2013
In Millions, unless otherwise specified
Asset Retirement Obligation Disclosure [Abstract]
Credit adjusted risk-free rates to discount abandonment liabilities, low end of range (as a percent)	6.90%
Credit adjusted risk-free rates to discount abandonment liabilities, high end of range (as a percent)	8.50%
Asset retirement obligation, current	$1.60	$1.60
Undiscounted amount of asset retirement obligation	$57.70

ASSET_RETIREMENT_OBLIGATION_Sc

ASSET RETIREMENT OBLIGATION (Schedule of Changes to Asset Retirement Obligation) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Jun. 30, 2014
Asset Retirement Obligation Disclosure [Abstract]
Asset retirement obligation, at beginning of period		$21,047	$22,037
Liabilities settled	0	-77
Liabilities incurred	0	0
Asset Retirement Obligation, Revision of Estimate	0	0
Accretion of discount	424	406
Total asset retirement obligation, at end of period	$22,461	$21,376	$22,037

COMPENSATION_PLANS_Narrative_D

COMPENSATION PLANS (Narrative) (Details) (USD $)	3 Months Ended
In Millions, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding non-vested equity-based awards, end of period (in shares)	481,288		464,769
Period over which grants vest (in years)	3 years
Allocated Share-based Compensation Expense	$0.90	$0.80
Total unrecognized compensation expense	$6.80
Performance Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding non-vested equity-based awards, end of period (in shares)	383,447
Period over which grants vest (in years)	3 years
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding non-qualified stock options, end of period (in shares)	319,972
Period over which grants vest (in years)	3 years
Common Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock available for issuance under the Plan (in shares)	2,900,000
Restricted Stock Awards, Granted To Newly Hired Employees | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period over which grants vest (in years)	1 year
Restricted Stock Awards, Granted To Newly Hired Employees | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period over which grants vest (in years)	4 years
2015 Performance Units [Member] | Performance Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding non-vested equity-based awards, end of period (in shares)	378,150
2012-2013 Performance [Member] | Performance Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding non-vested equity-based awards, end of period (in shares)	5,297

COMPENSATION_PLANS_Summary_of_

COMPENSATION PLANS (Summary of Non-Vested Restricted Common Stock Activity) (Details) (Restricted Stock, USD $)	3 Months Ended
In Millions, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated Share-based Compensation Expense	$0.90	$0.80
Shares
Non-vested restricted shares of common stock, beginning of period (in shares)	464,769
Granted (in shares)	237,256
Vested (in shares)	-198,141
Forfeited (in shares)	-22,596
Non-vested restricted shares of common stock, end of period (in shares)	481,288
Weighted Average Grant-Date Fair Value
Non-vested restricted shares of common stock, beginning of period (in dollars per share)	$16.49
Granted (in dollars per share)	$14.28
Vested (in dollars per share)	$17.80
Forfeited (in dollars per share)	$15.44
Non-vested restricted shares of common stock, end of period (in dollars per share)	$14.91

COMPENSATION_PLANS_Summary_of_1

COMPENSATION PLANS (Summary of Stock Option Activity) (Details) (Stock Options, USD $)	3 Months Ended
	Mar. 31, 2015
Stock Options
Stock Option Activity, Number of Shares
Outstanding non-qualified stock options, end of period (in shares)	319,972
Vested or expected to vest, end of period (in shares)	319,972
Exercisable non-qualified stock options, end of period (in shares)	319,972
Stock Options, Weighted Average Exercise Price
Outstanding non-qualified stock options, end of period (in dollars per share)	$26.16
Vested or expected to vest, end of period (in dollars per share)	$26.16
Exercisable non-qualified stock options, end of period (in dollars per share)	$26.16
Stock Options, Aggregate Intrinsic Value
Outstanding non-qualified stock options, end of period (in shares)	$0
Vested or expected to vest, end of period (in shares)	0
Exercisable non-qualified stock options, end of period (in shares)	$0
Stock Options, Weighted Average Remaining Contractual Life
Outstanding non-qualified stock options, end of period (in years)	3 years 4 months 10 days
Vested or expected to vest, end of period (in years)	3 years 4 months 10 days
Exercisable non-qualified stock options, end of period (in years)	3 years 4 months 10 days
Stock Options, Weighted Average Grant Date Fair Value
Outstanding non-qualified stock options, end of period (in dollars per share)	$13.05
Vested or expected to vest, end of period (in dollars per share)	$13.05
Exercisable non-qualified stock options, end of period (in dollars per share)	$13.05

INCOME_TAXES_Narrative_Details

INCOME TAXES (Narrative) (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Income Tax Disclosure [Abstract]
Effective tax rate	32.00%	-88.70%
Deferred Tax Assets, Valuation Allowance		$1.70

INCOME_TAXES_Schedule_of_Compo

INCOME TAXES (Schedule of Components of Income Tax (Benefit) Expense (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Income Tax Disclosure [Abstract]
Current portion of income tax (benefit) expense	$114	$0
Deferred portion of income tax (benefit) expense	2,957	-2,778
Total income tax (benefit) expense	$3,071	($2,778)
Effective tax rate	32.00%	-88.70%

COMMITMENTS_AND_CONTINGENCIES_1

COMMITMENTS AND CONTINGENCIES (Narrative) (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Sep. 30, 2013
Marketing Agreements
Period of cancellation of marketing agreement by way of written notice	30 days
Reclamation Deposits and Surety Bonds
Security placed with the State of Utah and BLM	$18
Long-term restricted cash deposits	0.5
Surety bonds issued by an insurer	17.5
New Mexico Employment Credits
Tax Credit Receivable		5.9
Other Cost and Expense, Operating		2.9
Other Receivables	2
Allowance for doubtful other receivables, current	$0.70		$2.80
Future Operating Lease Commitments
Operating Lease, Contract Term, Maximum (in years)	20 years

COMMITMENTS_AND_CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (Schedule of Rental and Lease Expense) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Commitments and Contingencies Disclosure [Abstract]
Rental and lease expenses	$1,744	$1,582

FAIR_VALUE_Schedule_of_Assets_

FAIR VALUE (Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Investments
Corporate bonds	$44,853	$21,288
Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1)
Investments
Corporate bonds	0	0
Significant Observable Inputs (Level 2)
Investments
Corporate bonds	44,853	21,288
Significant Unobservable Inputs (Level 3)
Investments
Corporate bonds	$0	$0

FAIR_VALUE_Fair_Value_by_Balan

FAIR VALUE (Fair Value, by Balance Sheet Groupings) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	$150,000	$150,000
Long-term debt, fair value	$140,000	$138,000

RESTRUCTURING_CHARGE_Narrative

RESTRUCTURING CHARGE (Narrative) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Restructuring Charge [Abstract]
Restructuring charge, percentage of eliminated positions		7.00%
Restructuring charge	$0	$1,827