Intrepid Potash (IPI) 10-Q 2 Aug 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2017	Jul. 26, 2017
Document and Entity Information [Abstract]
Entity Registrant Name	Intrepid Potash, Inc.
Entity Central Index Key	1,421,461
Document Type	10-Q
Document Period End Date	Jun. 30, 2017
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		130,234,917
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
ASSETS
Cash and cash equivalents	$ 6,190	$ 4,464
Accounts receivable:
Trade, net	11,476	10,343
Other receivables, net	1,383	492
Refundable income taxes	1,376	1,379
Inventory, net	79,095	94,355
Prepaid expenses and other current assets	7,591	12,710
Total current assets	107,111	123,743
Property, plant and equipment, and mineral properties, net	367,550	388,490
Long-term parts inventory, net	27,173	21,037
Other assets, net	4,244	7,631
Total Assets	506,078	540,901
Accounts payable:
Trade	5,873	10,210
Related parties	28	31
Accrued liabilities	7,220	8,690
Accrued employee compensation and benefits	3,924	4,225
Current portion of long-term debt	6,000	0
Other current liabilities	107	964
Total current liabilities	23,152	24,120
Long-term debt, net	59,308	133,434
Asset retirement obligation	20,754	19,976
Other non-current liabilities	100	0
Total Liabilities	103,314	177,530
Commitments and Contingencies
Common stock, $0.001 par value; 400,000,000 shares authorized; 126,536,091 and 75,839,998 shares outstanding at June 30, 2017, and December 31, 2016, respectively	127	76
Additional paid-in capital	642,728	583,653
Retained deficit	(240,091)	(220,358)
Total Stockholders' Equity	402,764	363,371
Total Liabilities and Stockholders' Equity	$ 506,078	$ 540,901

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	400,000,000	400,000,000
Common stock, shares outstanding	126,536,091	75,839,998

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Income Statement [Abstract]
Sales	$ 43,910	$ 51,840	$ 92,242	$ 125,117
Less:
Freight costs	7,985	8,931	16,706	19,263
Warehousing and handling costs	2,197	2,538	4,968	5,202
Cost of goods sold	29,714	41,850	65,586	101,627
Lower-of-cost-or-market inventory adjustments	317	2,930	4,141	11,937
Costs associated with abnormal production and other	0	1,057	0	1,707
Gross Margin (Deficit)	3,697	(5,466)	841	(14,619)
Selling and administrative	4,764	4,536	9,168	11,106
Accretion of asset retirement obligation	389	442	778	884
Restructuring expense	266	1,914	266	2,314
Care and maintenance expense	419	0	1,111	0
Other operating (income) expense	(457)	(1,801)	870	(1,905)
Operating Loss	(1,684)	(10,557)	(11,352)	(27,018)
Other Income (Expense)
Interest Expense, net	(4,217)	(3,000)	(8,637)	(5,229)
Interest income	0	101	4	224
Other income	(27)	59	384	201
Loss Before Income Taxes	(5,928)	(13,397)	(19,601)	(31,822)
Income Tax Expense	(7)	(1)	(12)	(3)
Net Loss	$ (5,935)	$ (13,398)	$ (19,613)	$ (31,825)
Weighted Average Shares Outstanding:
Basic (in shares)	126,221,142	75,838,782	104,228,787	75,797,658
Diluted (in shares)	126,221,142	75,838,782	104,228,787	75,797,658
Loss Per Share:
Basic (in dollars per share)	$ (0.05)	$ (0.18)	$ (0.19)	$ (0.42)
Diluted (in dollars per share)	$ (0.05)	$ (0.18)	$ (0.19)	$ (0.42)

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Statement of Comprehensive Income [Abstract]
Net loss	$ (5,935)	$ (13,398)	$ (19,613)	$ (31,825)
Other Comprehensive Income:
Net change in unrealized gain on investments available for sale, net of tax	0	19	0	49
Other Comprehensive Income	0	19	0	49
Comprehensive Loss	$ (5,935)	$ (13,379)	$ (19,613)	$ (31,776)

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings
Increase (Decrease) in Stockholders' Equity
Adjustment to opening balance			$ 120	$ (120)
Balance (in shares) at Dec. 31, 2016		75,839,998
Balance at Dec. 31, 2016	$ 363,371	$ 76	583,653	(220,358)
Increase (Decrease) in Stockholders' Equity
Issuance of common stock	57,479	$ 51	57,428
Net change in other comprehensive loss	0
Net loss	(19,613)
Stock-based compensation	1,685		1,685
Vesting of restricted common stock, net of restricted common stock used to fund employee income tax withholding due upon vesting (in shares)		623,176
Adjustments related to tax withholding for share-based compensation	(158)		(158)
Balance (in shares) at Jun. 30, 2017		126,536,091
Balance at Jun. 30, 2017	$ 402,764	$ 127	$ 642,728	$ (240,091)

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands		6 Months Ended
		Jun. 30, 2017	Jun. 30, 2016
Reconciliation of net income to net cash provided by operating activities:
Net loss		$ (19,613)	$ (31,825)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation, depletion and accretion	[1]	17,620	24,209
Amortization of deferred financing costs		1,350	1,666
Stock-based compensation		1,685	1,700
Lower-of-cost-or-market inventory adjustments		4,141	11,937
Loss on disposal of assets		1,564	(15)
Allowance for parts inventory obsolescence		0	618
Other		0	450
Changes in operating assets and liabilities:
Trade accounts receivable, net		(1,134)	757
Other receivables, net		(890)	(726)
Refundable income taxes		3	91
Inventory, net		4,984	(16,638)
Prepaid expenses and other current assets		8,116	14,677
Accounts payable, accrued liabilities, and accrued employee compensation and benefits		(5,560)	(5,401)
Other liabilities		(757)	(1,097)
Net cash provided by operating activities		11,509	403
Cash Flows from Investing Activities:
Additions to property, plant, equipment, and mineral properties		(3,559)	(11,775)
Proceeds from sale of property, plant, equipment, and mineral properties		5,553	0
Purchases of investments		0	(1,500)
Proceeds from sale of investments		1	37,375
Net cash provided by investing activities		1,995	24,100
Cash Flows from Financing Activities:
Issuance of common stock, net of transaction expenses		57,479	0
Repayments of long-term debt		(69,000)	0
Debt issuance costs		(99)	(2,654)
Employee tax withholding paid for restricted stock upon vesting		(158)	(172)
Net cash used in financing activities		(11,778)	(2,826)
Net Change in Cash and Cash Equivalents		1,726	21,677
Cash and Cash Equivalents, beginning of period		4,464	9,307
Cash and Cash Equivalents, end of period		6,190	30,984
Net cash paid (refunded) during the period for:
Interest		8,377	3,221
Income taxes		10	(88)
Accrued purchases for property, plant, equipment, and mineral properties		$ 242	$ 544
[1]	Depreciation, depletion and amortization incurred for potash and Trio® excludes depreciation, depletion and amortization amounts absorbed in or (relieved from) inventory.

COMPANY BACKGROUND

COMPANY BACKGROUND	6 Months Ended
	Jun. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
COMPANY BACKGROUND	COMPANY BACKGROUND We are the only producer of muriate of potash ("potassium chloride" or "potash") in the United States and are 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. We also sell water, which is recorded in other operating income. In addition, we sell by-products including salt, magnesium chloride, and brine. These by-product credits represented approximately 7% of total cost of goods sold for the six months ended June 30, 2017 . We produce potash from three solution mining facilities: our HB solar solution mine in Carlsbad, New Mexico, our solution mine in Moab, Utah, and our solar brine recovery mine in Wendover, Utah. We also operate the North compaction facility in Carlsbad, New Mexico, which compacts and granulates product from the HB mine. We produce Trio ® from our conventional underground East mine in Carlsbad, New Mexico.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Financial Statement Presentation —Our unaudited condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the "SEC"). Certain information and note disclosures normally included in annual financial statements prepared in accordance with U.S. generally accepted accounting principles ("GAAP") have been condensed or omitted pursuant to those rules and regulations. 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. These condensed consolidated financial statements should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2016, as filed with the SEC. Reclassifications of Prior Period Presentation —Certain prior period amounts have been reclassified in order to conform to the current period presentation. These reclassifications had no effect on the reported results of operations.

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Jun. 30, 2017
Earnings Per Share [Abstract]
EARNINGS PER SHARE	LOSS PER SHARE Basic loss per share is computed by dividing net loss by the weighted-average number of shares of common stock outstanding during the period. The following table sets forth the calculation of basic and diluted loss per share (in thousands, except per share amounts): Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Net loss $ (5,935 ) $ (13,398 ) $ (19,613 ) $ (31,825 ) Basic weighted average common shares outstanding 126,221 75,839 104,229 75,798 Add: Dilutive effect of restricted stock — — — — Add: Dilutive effect of stock options outstanding — — — — Add: Dilutive effect of performance units — — — — Diluted weighted average common shares outstanding 126,221 75,839 104,229 75,798 Loss per share: Basic $ (0.05 ) $ (0.18 ) $ (0.19 ) $ (0.42 ) Diluted $ (0.05 ) $ (0.18 ) $ (0.19 ) $ (0.42 ) Potentially dilutive securities, including restricted 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 restricted stock, stock options outstanding, and performance units. The following table shows the shares that have an anti-dilutive effect and are excluded from the diluted weighted average shares outstanding computations: Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Anti-dilutive shares of restricted common stock 2,640,229 447,661 2,793,642 407,186 Anti-dilutive shares of stock options outstanding 1,899,392 218,886 1,882,807 227,370 Anti-dilutive shares of performance units 63,025 126,050 63,025 127,651

CASH AND CASH EQUIVALENTS

CASH AND CASH EQUIVALENTS	6 Months Ended
	Jun. 30, 2017
Cash and Cash Equivalents [Abstract]
CASH AND CASH EQUIVALENTS	CASH AND CASH EQUIVALENTS As of June 30, 2017 , and December 31, 2016 , our cash balances were $6.2 million and $4.5 million , respectively.

INVENTORY AND LONG-TERM PARTS I

INVENTORY AND LONG-TERM PARTS INVENTORY	6 Months Ended
	Jun. 30, 2017
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 June 30, 2017 , and December 31, 2016 (in thousands): June 30, 2017 December 31, 2016 Finished goods product inventory $ 45,264 $ 52,571 In-process mineral inventory 19,949 22,126 Total product inventory 65,213 74,697 Current parts inventory, net 13,882 19,658 Total current inventory, net 79,095 94,355 Long-term parts inventory, net 27,173 21,037 Total inventory, net $ 106,268 $ 115,392 Parts inventories are shown net of any required allowances. At June 30, 2017 , and December 31, 2016 , allowances for parts inventory obsolescence were $2.5 million and $3.1 million , respectively. During the six months ended June 30, 2017, and 2016 , we recorded charges of approximately $4.1 million and $11.9 million , respectively, as a result of routine assessments of the lower of weighted average cost or estimated net realizable value of our finished goods product inventory. During the conversion of the East facility to Trio ® -only in 2016, we suspended East production for seven days. As a result, approximately $1.1 million and $1.7 million of production costs at our East facility that would have been allocated to additional tons produced were excluded from our inventory values and instead expensed in the three- and six-month periods in 2016 as period production costs.

PROPERTY, PLANT, EQUIPMENT, AND

PROPERTY, PLANT, EQUIPMENT, AND MINERAL PROPERTIES	6 Months Ended
	Jun. 30, 2017
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT, EQUIPMENT, AND MINERAL PROPERTIES	PROPERTY, PLANT, EQUIPMENT, AND MINERAL PROPERTIES Property, plant, equipment, and mineral properties were comprised of the following (in thousands): June 30, 2017 December 31, 2016 Buildings and plant $ 79,540 $ 82,457 Machinery and equipment 226,412 227,987 Vehicles 4,743 4,750 Office equipment and improvements 12,690 12,505 Ponds and land improvements 55,047 57,474 Total depreciable assets $ 378,432 $ 385,173 Accumulated depreciation (128,576 ) (116,194 ) Total depreciable assets, net $ 249,856 $ 268,979 Mineral properties and development costs $ 138,838 $ 138,578 Accumulated depletion (24,565 ) (21,974 ) Total depletable assets, net $ 114,273 $ 116,604 Land $ 519 $ 719 Construction in progress $ 2,902 $ 2,188 Total property, plant, equipment, and mineral properties, net $ 367,550 $ 388,490 We incurred the following expenses for depreciation, depletion, and accretion, including expenses capitalized into inventory, for the following periods (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Depreciation $ 7,080 $ 8,862 $ 14,240 $ 21,344 Depletion 828 537 2,602 1,981 Accretion 389 442 778 884 Total incurred $ 8,297 $ 9,841 $ 17,620 $ 24,209

DEBT

DEBT	6 Months Ended
	Jun. 30, 2017
Debt Disclosure [Abstract]
DEBT	DEBT Senior Notes —As of June 30, 2017 , we had outstanding $66 million of senior notes ("the Notes") consisting of the following series: • $26.4 million of Senior Notes, Series A, due April 16, 2020 • $19.8 million of Senior Notes, Series B, due April 14, 2023 • $19.8 million of Senior Notes, Series C, due April 16, 2025 We originally issued $150 million of the Notes in 2013. Since the beginning of the fourth quarter of 2016, we have repaid an aggregate principal amount of $84 million of the Notes, including $69 million paid in the first half of 2017. In June 2017, we entered into an amendment with the holders of the Notes that requires us to prepay an additional $6 million and $10 million of the Notes, in both cases together with accrued interest and a make-whole payment, on or before December 31, 2017, and December 31, 2018, respectively. After the prepayments, the outstanding balance of the Notes will be $50 million . The June 2017 amendment also altered the methodology for determining the variable interest rate for the Notes, though the interest rates will continue to be adjusted quarterly based on our financial performance and certain financial covenant levels, and modified certain terms regarding the mandatory redemptions or offers of prepayment to the holders of the Notes. The agreement governing the Notes provides for the following: • We granted to the collateral agent for the noteholders a first lien on substantially all of our non-current assets and second lien on substantially all of our current assets. • The agreement requires us to maintain a minimum trailing twelve-month adjusted EBITDA, which adjusts over time and is measured quarterly through March 2018, ranging from negative $10 million in the period ended June 30, 2017 to negative $7.5 million in the period ending March 31, 2018. Adjusted EBITDA is a non-GAAP measure that is calculated as adjusted earnings before interest, income taxes, depreciation, amortization, and certain other expenses for the prior four quarters, as defined under the agreement. Our adjusted EBITDA as calculated under the agreement was $8.5 million for the four quarters ended June 30, 2017, satisfying the adjusted EBITDA covenant. • The agreement requires us to maintain a minimum fixed charge coverage amount of negative $15 million and negative $10 million for the quarters ending June 30, 2018, and September 30, 2018, respectively. The agreement also includes requirements relating to a leverage ratio and a fixed charge coverage ratio to be tested on a quarterly basis commencing with the quarter ending June 30, 2018, with respect to the leverage ratio, and December 31, 2018, with respect to the fixed charge coverage ratio. The maximum leverage ratio will be 11.5 to 1.0 for the quarter ending June 30, 2018, and decreases to 3.5 to 1.0 for the quarter ending September 30, 2019, and each quarter thereafter. The minimum fixed charge coverage ratio will be 0.25 to 1.0 for the quarter ending December 31, 2018, and increases to 1.3 to 1.0 for the quarter ending September 30, 2019, and each quarter thereafter. In general, our fixed charge coverage amount is calculated as adjusted EBITDA for the prior four quarters, minus capital expenditures, cash paid for income taxes, and interest expense plus scheduled principal amortization of long-term funded indebtedness; our leverage ratio is calculated as the ratio of funded indebtedness to adjusted EBITDA for the prior four quarters; and our fixed charge coverage ratio is calculated as the ratio of adjusted EBITDA for the prior four quarters, minus capital expenditures and cash paid for income taxes, to interest expense plus scheduled principal amortization of long-term funded indebtedness. • The Series A Senior Notes bear interest at 7.73% , the Series B Senior Notes bear interest at 8.63% , and the Series C Senior Notes bear interest at 8.78% . The interest rates are adjusted quarterly based upon our financial performance and certain financial covenant levels. In addition, additional interest of 2% , which may be paid in kind, will begin to accrue on April 1, 2018, unless we satisfy certain financial covenant tests. • We are required to offer to prepay the Notes with the proceeds of dispositions of certain specified property and with the proceeds of certain equity issuances, as set forth in the agreement. During the six months ended June 30, 2017, we repaid the Notes by $63.5 million with the proceeds of an equity offering and cash generated from operating activities and by $5.5 million in conjunction with the sale of an asset. • The obligations under the Notes are unconditionally guaranteed by several of our subsidiaries. We were in compliance with the applicable covenants under the agreement governing the Notes as of June 30, 2017 . Our outstanding long-term debt, net, as of June 30, 2017 , and December 31, 2016 , is as follows (in thousands): June 30, 2017 December 31, 2016 Senior Notes $ 66,000 $ 135,000 Less current portion of long-term debt (6,000 ) — Less deferred financing costs (692 ) (1,566 ) Long-term debt, net $ 59,308 $ 133,434 Credit Facility —In October 2016, we entered into a credit agreement with Bank of Montreal that provides an asset-based revolving credit facility of up to $35 million in aggregate principal amount. In June 2017, we amended the agreement to extend the maturity date to October 31, 2019, and to permit up to $10 million of borrowings under the agreement to be used to make payments on the Notes. The amount of the facility remains at $35 million and is available subject to monthly borrowing base limits based on our inventory and receivables. If our total remaining availability under the credit facility was to fall below $6 million , we would be subject to a minimum fixed charge coverage ratio of 1 to 1, which we would not currently meet. Any borrowings on the credit facility bear interest at 1.75% to 2.25% above LIBOR (London Interbank Offered Rate), based on average availability under the credit facility. We have granted to Bank of Montreal a first lien on substantially all of our current assets and a second lien on substantially all of our non-current assets. We occasionally borrow and repay amounts under the facility for near-term working capital needs and may do so in the future. For the six months ended June 30, 2017, we borrowed and repaid $7.5 million under the facility. As of June 30, 2017, there were no amounts outstanding under the facility, other than $3.5 million in letters of credit. Considering the outstanding letters of credit and the fixed charge coverage ratio requirement described above, we have $17.5 million available under the facility as of June 30, 2017. We were in compliance with the applicable covenants under the facility as of June 30, 2017. Interest expense is recorded net of any capitalized interest associated with investments in capital projects. We incurred gross interest expense of $4.3 million and $3.1 million for the three months ended June 30, 2017 , and 2016 , respectively, and $8.7 million and $5.4 million for the six months ended June 30, 2017 , and 2016 , respectively. Amounts included in interest expense for the three and six months ended June 30, 2017 , and 2016 are as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Interest on Notes and credit facility commitment fees $ 1,963 $ 2,203 $ 4,798 $ 3,738 Make-whole payments 1,760 — 2,554 — Amortization of deferred financing costs 529 881 1,350 1,666 Gross interest expense 4,252 3,084 8,702 5,404 Less capitalized interest 35 84 65 175 Interest expense, net $ 4,217 $ 3,000 $ 8,637 $ 5,229

FINANCIAL INFORMATION FOR SUBSI

FINANCIAL INFORMATION FOR SUBSIDIARY GUARANTORS OF POSSIBLE FUTURE PUBLIC DEBT	6 Months Ended
	Jun. 30, 2017
Guarantees [Abstract]
FINANCIAL INFORMATION FOR SUBSIDIARY GUARANTORS OF POSSIBLE FUTURE PUBLIC DEBT	FINANCIAL INFORMATION FOR SUBSIDIARY GUARANTORS OF POSSIBLE FUTURE PUBLIC DEBT Intrepid Potash, Inc., as the parent company, has no independent assets or operations, and operations are conducted solely through its subsidiaries. Cash generated from operations is held at the parent-company level as cash on hand which totaled $6.2 million and $4.5 million at June 30, 2017 , and December 31, 2016 , respectively. In the event that one or more of our wholly-owned operating subsidiaries guarantee public debt securities in the future, those guarantees will be full and unconditional and will constitute the joint and several obligations of the subsidiary guarantors. Our other subsidiaries are minor. There are no restrictions on our ability to obtain cash dividends or other distributions of funds from the subsidiary guarantors, except those imposed by applicable law.

ASSET RETIREMENT OBLIGATION

ASSET RETIREMENT OBLIGATION	6 Months Ended
	Jun. 30, 2017
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 revisions to estimated costs. The credit adjusted risk-free rates used to discount our abandonment liabilities range from 6.9% to 9.7% . 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 June 30, Six Months Ended June 30, 2017 2016 2017 2016 Asset retirement obligation, at beginning of period $ 20,365 $ 23,393 $ 19,976 $ 22,951 Liabilities settled — (3 ) — (3 ) Accretion of discount 389 442 778 884 Total asset retirement obligation, at end of period $ 20,754 $ 23,832 $ 20,754 $ 23,832 The undiscounted amount of asset retirement obligation was $59.3 million as of June 30, 2017 .

COMMON STOCK

COMMON STOCK	6 Months Ended
	Jun. 30, 2017
Stockholders' Equity Note [Abstract]
Common Stock	Note 10 — COMMON STOCK In March 2017, we completed an underwritten public offering of our common stock and issued 50.1 million shares of common stock for net cash proceeds of $57.5 million . The net proceeds from the offering have been used to partially repay indebtedness and for general corporate purposes. In May 2017, we commenced an at-the-market offering program, which gives us the capacity to issue up to $40 million of our common stock. We did not have any sales of common stock under this program in the second quarter of 2017. We intend to use the net proceeds from any offerings under this program for general corporate purposes, which may include, among other things, the repayment of indebtedness under our senior notes or revolving credit facility, acquisitions, and funding capital expenditures.

COMPENSATION PLANS

COMPENSATION PLANS	6 Months Ended
	Jun. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
COMPENSATION PLANS	Note 11 — COMPENSATION PLANS Equity Incentive Compensation Plan —Our Board of Directors and stockholders adopted a long-term incentive compensation plan called the Intrepid Potash, Inc. Amended and Restated Equity Incentive Plan (the "Plan"). We have issued common stock, restricted stock, performance units, and non-qualified stock option awards under the Plan. Share-based awards vest over one, three or four years. At June 30, 2017, there were approximately 3.6 million shares available for issuance under the Plan. During the second quarter, we granted a total of 1.4 million shares of restricted stock and 0.6 million non-qualified stock options to members of our Board of Directors, executive officers, and other key employees. These awards vest over one or three years. As of June 30, 2017, the following awards were outstanding under the Plan: Outstanding as of June 30, 2017 Restricted Stock 3,912,579 Non-qualified Stock Options 2,326,290 Performance Units 126,050 Total share-based compensation expense was $1.7 million and $1.2 million for the six months ended June 30, 2017, and 2016, respectively. As of June 30, 2017 , we had $7.3 million of total remaining unrecognized compensation expense related to awards, that will be expensed through 2020.

OTHER OPERATING (INCOME) EXPENS

OTHER OPERATING (INCOME) EXPENSE	6 Months Ended
	Jun. 30, 2017
Other Income and Expenses [Abstract]
Other Operating (Income) Expense	OTHER OPERATING (INCOME) EXPENSE Other operating (income) expense consisted of the following amounts: Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Water sales (1,097 ) — (1,421 ) — Accrual for land issues 600 — 600 — Loss (gain) on sale of assets 5 — 1,564 (15 ) Other expense (income) 35 — 127 (89 ) Insurance reimbursement — (1,211 ) — (1,211 ) Compensating tax adjustment — (1,086 ) — (1,086 ) Reserve for Inventory Obsolescence — 496 — 496 (457 ) (1,801 ) 870 (1,905 )

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2017
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. During both the six-month periods ended June 30, 2017 , and 2016, our effective tax rate was 0% which differed from the statutory rate primarily as a result of the impact of recording a valuation allowance to offset the amount of additional deferred tax asset generated during the periods. As of June 30, 2017 , we do not believe it is more likely than not that we will fully realize the benefit of our deferred tax assets. As such, we increased the valuation allowance related to our deferred tax assets by $6.2 million for the six months ended June 30, 2017. We recognized a full valuation allowance against our net deferred tax assets as of June 30, 2017 , and December 31, 2016 . A summary of our valuation allowance activity is as follows (in thousands): Six Months Ended June 30, 2017 2016 Valuation allowance, beginning of period $ 326,097 $ 300,601 Additions 6,183 13,847 Valuation allowance, end of period $ 332,280 $ 314,448

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Reclamation Deposits and Surety Bonds —As of June 30, 2017 , and December 31, 2016 , we had $18.4 million and $21.4 million , respectively, 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 June 30, 2017 , and December 31, 2016 , $0.5 million and $3.5 million , respectively, consisted of long-term restricted cash deposits reflected in "Other assets, net" on the condensed consolidated balance sheets and $17.9 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. Legal —In February 2015, Mosaic Potash Carlsbad Inc. ("Mosaic") filed a complaint and application for preliminary injunction and permanent injunction against Steve Gamble and us in the Fifth Judicial District Court for the County of Eddy in the State of New Mexico. Mr. Gamble is a former Intrepid employee and former Mosaic employee. The complaint alleges against us violations of the Uniform Trade Secrets Act and tortious interference with contract relating to alleged misappropriation of Mosaic's trade secrets. Mosaic seeks monetary relief of an unspecified amount, including damages for actual loss and unjust enrichment, exemplary damages, attorneys' fees, and injunctive relief and has alleged that it has spent hundreds of millions of dollars to research and develop its alleged trade secrets. In August 2015, the court denied Mosaic's application for preliminary injunction. The lawsuit is currently progressing through discovery. We are vigorously defending against the lawsuit. Because this matter is at an early stage, we are unable to reasonably estimate the potential amount of loss, if any. In July 2016, Mosaic filed a complaint against Steve Gamble and us in US District Court for the District of New Mexico. The complaint alleges violations of the Computer Fraud and Abuse Act, conversion, and civil conspiracy relating to alleged misappropriation of Mosaic's confidential information. Mosaic seeks injunctive relief and compensatory and punitive damages of an unspecified amount. We are vigorously defending against the lawsuit. Because this matter is at an early stage, we are unable to reasonably estimate the potential amount of loss, if any. We are subject to other claims and legal actions in the ordinary course of business. While there are uncertainties in predicting the outcome of any claim or legal action, we believe that the ultimate resolution of these other claims or actions is not reasonably likely to have a material adverse effect on our financial condition, results of operations, or cash flows. Future Operating Lease Commitments —We have operating leases for land, mining and other operating equipment, offices, and railcars, with original terms ranging up to 20 years. In June 2017, we amended our existing corporate office lease agreement to extend the term to March 31, 2019, and to reduce the base rent. Rental and lease expenses for the three months ended June 30, 2017 , and 2016 , were $1.5 million . Rental and lease expenses for the six months ended June 30, 2017 , and 2016 , were $3.0 million and $3.1 million , respectively.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Jun. 30, 2017
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS We measure our financial assets and liabilities in accordance with Accounting Standards Codification™ ("ASC") Topic 820, Fair Value Measurements and Disclosures. For cash and cash equivalents, certificates of deposit and time 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. The carrying value and estimated fair value of our long-term debt as of June 30, 2017 , and December 31, 2016 , were as follows (in thousands): June 30, 2017 December 31, 2016 Carrying Value Fair Value Carrying Value Fair Value Senior notes $ 66,000 $ 65,800 $ 135,000 $ 131,000

RESTRUCTURING CHARGE

RESTRUCTURING CHARGE	6 Months Ended
	Jun. 30, 2017
Restructuring Charge [Abstract]
RESTRUCTURING CHARGE	RESTRUCTURING CHARGE During 2016, in response to declining potash prices, we undertook a number of cost saving actions to better align our cost structure with the business environment. These initiatives included workforce reductions, bonus plan curtailments, and reductions in compensation. For the six months ended June 30, 2016 , we recognized restructuring expense of $2.3 million related to these events. We recorded $0.3 million of restructuring expenses for the six months ended June 30, 2017 , relating to our continued efforts to match production to expected sales.

BUSINESS SEGMENTS

BUSINESS SEGMENTS	6 Months Ended
	Jun. 30, 2017
Segment Reporting [Abstract]
BUSINESS SEGMENTS	BUSINESS SEGMENTS We have two business segments: potash and Trio ® . Our reportable segments are determined by management based on a number of factors including the types of potassium-based fertilizer produced, production processes, markets served and the financial information available to our chief operating decision maker. We evaluate performance based on the gross margins of the respective business segments and do not allocate corporate selling and administrative expenses, among others, to the respective segments. Total assets are not presented for each reportable segment as they are not reviewed by, nor otherwise regularly provided to, the chief operating decision maker. All sales of both segments are to external customers. Information for each segment is provided in the following tables (in thousands): Three Months Ended June 30, 2017 Potash Trio ® Corporate Consolidated Sales $ 27,814 $ 16,096 $ — $ 43,910 Less: Freight costs 3,578 4,407 — 7,985 Warehousing and handling costs 1,366 831 — 2,197 Cost of goods sold 18,822 10,892 — 29,714 Lower-of-cost-or-market inventory 33 284 — 317 Gross Margin (Deficit) $ 4,015 $ (318 ) $ — $ 3,697 Depreciation, depletion and amortization incurred 1 $ 6,555 $ 1,705 $ 37 $ 8,297 Six Months Ended June 30, 2017 Potash Trio ® Corporate Consolidated Sales $ 55,034 $ 37,208 $ — $ 92,242 Less: Freight costs 6,537 10,169 — 16,706 Warehousing and handling costs 2,878 2,090 — 4,968 Cost of goods sold 39,242 26,344 — 65,586 Lower-of-cost-or-market inventory 33 4,108 — 4,141 Gross Margin (Deficit) $ 6,344 $ (5,503 ) $ — $ 841 Depreciation, depletion and amortization incurred 1 $ 14,118 $ 3,404 $ 98 $ 17,620 Three Months Ended June 30, 2016 Potash Trio ® Corporate Consolidated Sales $ 39,196 $ 12,644 $ — $ 51,840 Less: Freight costs 6,882 2,049 — 8,931 Warehousing and handling costs 2,132 406 — 2,538 Cost of goods sold 32,502 9,348 — 41,850 Lower-of-cost-or-market inventory 2,930 — — 2,930 Costs associated with abnormal — 1,057 — 1,057 Gross (Deficit) Margin $ (5,250 ) $ (216 ) $ — $ (5,466 ) Depreciation, depletion and amortization incurred 1 $ 8,647 $ 879 $ 315 $ 9,841 Six Months Ended June 30, 2016 Potash Trio ® Corporate Consolidated Sales $ 92,891 $ 32,226 $ — $ 125,117 Less: Freight costs 13,433 5,830 — 19,263 Warehousing and handling costs 4,286 916 — 5,202 Cost of goods sold 79,790 21,837 — 101,627 Lower-of-cost-or-market inventory 11,937 — — 11,937 Costs associated with abnormal 650 1,057 — 1,707 Gross (Deficit) Margin $ (17,205 ) $ 2,586 $ — $ (14,619 ) Depreciation, depletion and amortization incurred 1 $ 20,880 $ 2,554 $ 775 $ 24,209 1 Depreciation, depletion and amortization incurred for potash and Trio ® excludes depreciation, depletion and amortization amounts absorbed in or (relieved from) inventory. During the three months ended June 30, 2017 we recorded restructuring charges of $0.3 million attributable to our Trio ® segment. For the comparable period in 2016, we recorded restructuring charges of $1.9 million , all of which was attributable to our potash segment. During the six months ended June 30, 2017, we recorded restructuring charges of $0.3 million attributable to our Trio ® segment. For the comparable period in 2016, we recorded restructuring charges of $2.3 million , of which $2.1 million was attributable to our potash segment and $0.2 million was attributable to corporate.

RECENT ACCOUNTING PRONOUNCEMENT

RECENT ACCOUNTING PRONOUNCEMENTS	6 Months Ended
	Jun. 30, 2017
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTS	RECENTLY ADOPTED ACCOUNTING PRONOUNCEMENTS In July 2015, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2015-11, "Inventory (Topic 330): Simplifying the Measurement of Inventory." An entity using an inventory method other than last-in, first-out or the retail inventory method should measure inventory at the lower of cost and net realizable value. This standard clarifies that net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation and was effective for us beginning January 1, 2017. The adoption of this standard did not have a material impact on our consolidated financial statements. In March 2016, the FASB issued ASU No. 2016-09, "Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting," which became effective for us beginning January 1, 2017. This standard changes several aspects of how we account for share-based payment award transactions, including income tax consequences, classification of awards as either equity or liabilities, classification of excess tax benefits on the statement of cash flows, forfeitures, minimum statutory tax withholding payments, and classification of employee taxes paid on the statement of cash flows when an employer withholds shares for tax-withholding purposes. In accordance with adoption of this standard share-based payment award forfeiture expense will no longer be estimated and will be recorded as forfeitures occur and we have recorded a $120,000 adjustment to beginning retained earnings for the impact of this cumulative change.

SUMMARY OF SIGNIFICANT ACCOUN26

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
Financial Statement Presentation	Our unaudited condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the "SEC"). Certain information and note disclosures normally included in annual financial statements prepared in accordance with U.S. generally accepted accounting principles ("GAAP") have been condensed or omitted pursuant to those rules and regulations. 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. These condensed consolidated financial statements should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2016, as filed with the SEC.
Reclassifications of Prior Period Presentation	Certain prior period amounts have been reclassified in order to conform to the current period presentation. These reclassifications had no effect on the reported results of operations.

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2017
Earnings Per Share [Abstract]
Schedule of Calculation of Basic and Diluted Loss or Earnings Per Share	Basic loss per share is computed by dividing net loss by the weighted-average number of shares of common stock outstanding during the period. The following table sets forth the calculation of basic and diluted loss per share (in thousands, except per share amounts): Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Net loss $ (5,935 ) $ (13,398 ) $ (19,613 ) $ (31,825 ) Basic weighted average common shares outstanding 126,221 75,839 104,229 75,798 Add: Dilutive effect of restricted stock — — — — Add: Dilutive effect of stock options outstanding — — — — Add: Dilutive effect of performance units — — — — Diluted weighted average common shares outstanding 126,221 75,839 104,229 75,798 Loss per share: Basic $ (0.05 ) $ (0.18 ) $ (0.19 ) $ (0.42 ) Diluted $ (0.05 ) $ (0.18 ) $ (0.19 ) $ (0.42 )
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	Potentially dilutive securities, including restricted 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 restricted stock, stock options outstanding, and performance units. The following table shows the shares that have an anti-dilutive effect and are excluded from the diluted weighted average shares outstanding computations: Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Anti-dilutive shares of restricted common stock 2,640,229 447,661 2,793,642 407,186 Anti-dilutive shares of stock options outstanding 1,899,392 218,886 1,882,807 227,370 Anti-dilutive shares of performance units 63,025 126,050 63,025 127,651

INVENTORY AND LONG-TERM PARTS28

INVENTORY AND LONG-TERM PARTS INVENTORY (Tables)	6 Months Ended
	Jun. 30, 2017
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 June 30, 2017 , and December 31, 2016 (in thousands): June 30, 2017 December 31, 2016 Finished goods product inventory $ 45,264 $ 52,571 In-process mineral inventory 19,949 22,126 Total product inventory 65,213 74,697 Current parts inventory, net 13,882 19,658 Total current inventory, net 79,095 94,355 Long-term parts inventory, net 27,173 21,037 Total inventory, net $ 106,268 $ 115,392

PROPERTY, PLANT, EQUIPMENT, A29

PROPERTY, PLANT, EQUIPMENT, AND MINERAL PROPERTIES PROPERTY, PLANT, EQUIPMENT, AND MINERAL PROPERTIES (Tables)	6 Months Ended
	Jun. 30, 2017
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant, Equipment, and Mineral Properties	Property, plant, equipment, and mineral properties were comprised of the following (in thousands): June 30, 2017 December 31, 2016 Buildings and plant $ 79,540 $ 82,457 Machinery and equipment 226,412 227,987 Vehicles 4,743 4,750 Office equipment and improvements 12,690 12,505 Ponds and land improvements 55,047 57,474 Total depreciable assets $ 378,432 $ 385,173 Accumulated depreciation (128,576 ) (116,194 ) Total depreciable assets, net $ 249,856 $ 268,979 Mineral properties and development costs $ 138,838 $ 138,578 Accumulated depletion (24,565 ) (21,974 ) Total depletable assets, net $ 114,273 $ 116,604 Land $ 519 $ 719 Construction in progress $ 2,902 $ 2,188 Total property, plant, equipment, and mineral properties, net $ 367,550 $ 388,490
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 June 30, Six Months Ended June 30, 2017 2016 2017 2016 Depreciation $ 7,080 $ 8,862 $ 14,240 $ 21,344 Depletion 828 537 2,602 1,981 Accretion 389 442 778 884 Total incurred $ 8,297 $ 9,841 $ 17,620 $ 24,209

DEBT DEBT (Tables)

DEBT DEBT (Tables)	6 Months Ended
	Jun. 30, 2017
Debt Disclosure [Abstract]
Schedule of Long Term Debt	Our outstanding long-term debt, net, as of June 30, 2017 , and December 31, 2016 , is as follows (in thousands): June 30, 2017 December 31, 2016 Senior Notes $ 66,000 $ 135,000 Less current portion of long-term debt (6,000 ) — Less deferred financing costs (692 ) (1,566 ) Long-term debt, net $ 59,308 $ 133,434
Schedule Of Interest Expense	Amounts included in interest expense for the three and six months ended June 30, 2017 , and 2016 are as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Interest on Notes and credit facility commitment fees $ 1,963 $ 2,203 $ 4,798 $ 3,738 Make-whole payments 1,760 — 2,554 — Amortization of deferred financing costs 529 881 1,350 1,666 Gross interest expense 4,252 3,084 8,702 5,404 Less capitalized interest 35 84 65 175 Interest expense, net $ 4,217 $ 3,000 $ 8,637 $ 5,229

ASSET RETIREMENT OBLIGATION (Ta

ASSET RETIREMENT OBLIGATION (Tables)	6 Months Ended
	Jun. 30, 2017
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 June 30, Six Months Ended June 30, 2017 2016 2017 2016 Asset retirement obligation, at beginning of period $ 20,365 $ 23,393 $ 19,976 $ 22,951 Liabilities settled — (3 ) — (3 ) Accretion of discount 389 442 778 884 Total asset retirement obligation, at end of period $ 20,754 $ 23,832 $ 20,754 $ 23,832

COMPENSATION PLANS COMPENSATION

COMPENSATION PLANS COMPENSATION PLANS (Tables)	6 Months Ended
	Jun. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Outstanding Share Based Awards	During the second quarter, we granted a total of 1.4 million shares of restricted stock and 0.6 million non-qualified stock options to members of our Board of Directors, executive officers, and other key employees. These awards vest over one or three years. As of June 30, 2017, the following awards were outstanding under the Plan: Outstanding as of June 30, 2017 Restricted Stock 3,912,579 Non-qualified Stock Options 2,326,290 Performance Units 126,050

OTHER OPERATING (INCOME) EXPE33

OTHER OPERATING (INCOME) EXPENSE OTHER OPEARTING (INCOME) EXPENSE (Tables)	6 Months Ended
	Jun. 30, 2017
Other Income and Expenses [Abstract]
Schedule of Other Operating Income Expense	Other operating (income) expense consisted of the following amounts: Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Water sales (1,097 ) — (1,421 ) — Accrual for land issues 600 — 600 — Loss (gain) on sale of assets 5 — 1,564 (15 ) Other expense (income) 35 — 127 (89 ) Insurance reimbursement — (1,211 ) — (1,211 ) Compensating tax adjustment — (1,086 ) — (1,086 ) Reserve for Inventory Obsolescence — 496 — 496 (457 ) (1,801 ) 870 (1,905 )

INCOME TAXES (Tables)

INCOME TAXES (Tables)	6 Months Ended
	Jun. 30, 2017
Income Tax Disclosure [Abstract]
Schedule of Valuation Allowance	A summary of our valuation allowance activity is as follows (in thousands): Six Months Ended June 30, 2017 2016 Valuation allowance, beginning of period $ 326,097 $ 300,601 Additions 6,183 13,847 Valuation allowance, end of period $ 332,280 $ 314,448

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Jun. 30, 2017
Fair Value Disclosures [Abstract]
Fair Value Financial Instrument Liabilities	The carrying value and estimated fair value of our long-term debt as of June 30, 2017 , and December 31, 2016 , were as follows (in thousands): June 30, 2017 December 31, 2016 Carrying Value Fair Value Carrying Value Fair Value Senior notes $ 66,000 $ 65,800 $ 135,000 $ 131,000

BUSINESS SEGMENTS BUSINES SEGME

BUSINESS SEGMENTS BUSINES SEGMENTS (Tables)	6 Months Ended
	Jun. 30, 2017
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Information for each segment is provided in the following tables (in thousands): Three Months Ended June 30, 2017 Potash Trio ® Corporate Consolidated Sales $ 27,814 $ 16,096 $ — $ 43,910 Less: Freight costs 3,578 4,407 — 7,985 Warehousing and handling costs 1,366 831 — 2,197 Cost of goods sold 18,822 10,892 — 29,714 Lower-of-cost-or-market inventory 33 284 — 317 Gross Margin (Deficit) $ 4,015 $ (318 ) $ — $ 3,697 Depreciation, depletion and amortization incurred 1 $ 6,555 $ 1,705 $ 37 $ 8,297 Six Months Ended June 30, 2017 Potash Trio ® Corporate Consolidated Sales $ 55,034 $ 37,208 $ — $ 92,242 Less: Freight costs 6,537 10,169 — 16,706 Warehousing and handling costs 2,878 2,090 — 4,968 Cost of goods sold 39,242 26,344 — 65,586 Lower-of-cost-or-market inventory 33 4,108 — 4,141 Gross Margin (Deficit) $ 6,344 $ (5,503 ) $ — $ 841 Depreciation, depletion and amortization incurred 1 $ 14,118 $ 3,404 $ 98 $ 17,620 Three Months Ended June 30, 2016 Potash Trio ® Corporate Consolidated Sales $ 39,196 $ 12,644 $ — $ 51,840 Less: Freight costs 6,882 2,049 — 8,931 Warehousing and handling costs 2,132 406 — 2,538 Cost of goods sold 32,502 9,348 — 41,850 Lower-of-cost-or-market inventory 2,930 — — 2,930 Costs associated with abnormal — 1,057 — 1,057 Gross (Deficit) Margin $ (5,250 ) $ (216 ) $ — $ (5,466 ) Depreciation, depletion and amortization incurred 1 $ 8,647 $ 879 $ 315 $ 9,841 Six Months Ended June 30, 2016 Potash Trio ® Corporate Consolidated Sales $ 92,891 $ 32,226 $ — $ 125,117 Less: Freight costs 13,433 5,830 — 19,263 Warehousing and handling costs 4,286 916 — 5,202 Cost of goods sold 79,790 21,837 — 101,627 Lower-of-cost-or-market inventory 11,937 — — 11,937 Costs associated with abnormal 650 1,057 — 1,707 Gross (Deficit) Margin $ (17,205 ) $ 2,586 $ — $ (14,619 ) Depreciation, depletion and amortization incurred 1 $ 20,880 $ 2,554 $ 775 $ 24,209 1 Depreciation, depletion and amortization incurred for potash and Trio ® excludes depreciation, depletion and amortization amounts absorbed in or (relieved from) inventory.

COMPANY BACKGROUND (Narrative)

COMPANY BACKGROUND (Narrative) (Details)	6 Months Ended
	Jun. 30, 2017Facility
By product credits	7.00%
Number of mining facilities	3

EARNINGS PER SHARE (Schedule of

EARNINGS PER SHARE (Schedule of Calculation of Basic and Diluted Loss or Earnings Per Share) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Earnings Per Share [Abstract]
Net loss	$ (5,935)	$ (13,398)	$ (19,613)	$ (31,825)
Basic weighted average common shares outstanding (in shares)	126,221,142	75,838,782	104,228,787	75,797,658
Add: Dilutive effect of restricted common stock (in shares)	0	0	0	0
Add: Dilutive effect of stock options outstanding (in shares)	0	0	0	0
Add: Dilutive effect of performance units (in shares)	0	0	0	0
Diluted weighted average common shares outstanding (in shares)	126,221,142	75,838,782	104,228,787	75,797,658
Loss per share:
Basic (in dollars per share)	$ (0.05)	$ (0.18)	$ (0.19)	$ (0.42)
Diluted (in dollars per share)	$ (0.05)	$ (0.18)	$ (0.19)	$ (0.42)

EARNINGS PER SHARE (Schedule 39

EARNINGS PER SHARE (Schedule of Anti-Dilutive Shares) (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Restricted Stock
Anti-dilutive weighted average non-vested shares
Anti-dilutive shares (in shares)	2,640,229	447,661	2,793,642	407,186
Stock Options
Anti-dilutive weighted average non-vested shares
Anti-dilutive shares (in shares)	1,899,392	218,886	1,882,807	227,370
Performance Units
Anti-dilutive weighted average non-vested shares
Anti-dilutive shares (in shares)	63,025	126,050	63,025	127,651

CASH AND CASH EQUIVALENTS (Summ

CASH AND CASH EQUIVALENTS (Summary of Cash And Cash Equivalents) (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016	Dec. 31, 2015
Cash and Cash Equivalents [Abstract]
Cash and cash equivalents	$ 6,190	$ 4,464	$ 30,984	$ 9,307

INVENTORY AND LONG-TERM PARTS41

INVENTORY AND LONG-TERM PARTS INVENTORY (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Inventory Disclosure [Abstract]
Inventory valuation reserves	$ 2,500		$ 2,500		$ 3,100
Lower-of-cost-or-market inventory adjustments	317	$ 2,930	4,141	$ 11,937
Production Related Impairments or Charges	$ 0	$ 1,057	$ 0	$ 1,707

INVENTORY AND LONG-TERM PARTS42

INVENTORY AND LONG-TERM PARTS INVENTORY (Summary of Inventory) (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Inventory [Line Items]
Finished goods product inventory	$ 45,264	$ 52,571
In-process mineral inventory	19,949	22,126
Total product inventory	65,213	74,697
Current parts inventory	13,882	19,658
Total current inventory, net	79,095	94,355
Long-term parts inventory, net	27,173	21,037
Total inventory, net	$ 106,268	$ 115,392

PROPERTY, PLANT, EQUIPMENT, A43

PROPERTY, PLANT, EQUIPMENT, AND MINERAL PROPERTIES (Schedule of Property, Plant, Equipment, and Mineral Properties) (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Property, plant, equipment, and mineral properties
Depreciable assets	$ 378,432	$ 385,173
Accumulated depreciation	(128,576)	(116,194)
Depreciable assets, net	249,856	268,979
Mineral properties and development costs	138,838	138,578
Accumulated depletion	(24,565)	(21,974)
Total depletable assets, net	114,273	116,604
Land	519	719
Construction in progress	2,902	2,188
Total property, plant, equipment and mineral properties, net	367,550	388,490
Buildings Plant
Property, plant, equipment, and mineral properties
Depreciable assets	79,540	82,457
Machinery and Equipment
Property, plant, equipment, and mineral properties
Depreciable assets	226,412	227,987
Vehicles
Property, plant, equipment, and mineral properties
Depreciable assets	4,743	4,750
Office Equipment and Improvements
Property, plant, equipment, and mineral properties
Depreciable assets	12,690	12,505
Ponds and Land Improvements
Property, plant, equipment, and mineral properties
Depreciable assets	$ 55,047	$ 57,474

PROPERTY, PLANT, EQUIPMENT, A44

PROPERTY, PLANT, EQUIPMENT, AND MINERAL PROPERTIES (Schedule of Depreciation, Depletion, and Accretion) (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Property, Plant and Equipment [Abstract]
Depreciation		$ 7,080	$ 8,862	$ 14,240	$ 21,344
Depletion		828	537	2,602	1,981
Accretion		389	442	778	884
Total incurred	[1]	$ 8,297	$ 9,841	$ 17,620	$ 24,209
[1]	Depreciation, depletion and amortization incurred for potash and Trio® excludes depreciation, depletion and amortization amounts absorbed in or (relieved from) inventory.

DEBT (Narrative) (Details)

DEBT (Narrative) (Details)	3 Months Ended		6 Months Ended		9 Months Ended	12 Months Ended
	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2017USD ($)	Dec. 31, 2016USD ($)	Apr. 30, 2013USD ($)
Debt
Long-Term Debt	$ 66,000,000		$ 66,000,000		$ 66,000,000	$ 66,000,000	$ 135,000,000
Adjusted EBITDA						8,500,000
Interest Costs Incurred, Gross	4,252,000	$ 3,084,000	8,702,000	$ 5,404,000
Senior Notes
Debt
Debt, Face Amount								$ 150,000,000
Repayments of Debt			69,000,000		84,000,000
Additional Required Principal Payment By December 31, 2017	6,000,000		6,000,000		6,000,000	6,000,000
Additional Required Principal Payment By December 31, 2018	10,000,000		10,000,000		10,000,000	10,000,000
Long Term Debt Balance After Required Prepayments	50,000,000		50,000,000		50,000,000	50,000,000
Long-Term Debt	66,000,000		66,000,000		66,000,000	66,000,000	$ 135,000,000
Line of Credit Facility, Capacity Available for Notes Repayment	10,000,000		$ 10,000,000		10,000,000	10,000,000
Bank Of Montreal
Debt
Minimum Fixed Charge Ratio			1
Line of Credit Facility, Maximum Borrowing Capacity	35,000,000		$ 35,000,000		35,000,000	35,000,000
Line of Credit Facility, Borrowing Capacity, Threshold, Fixed Charge Coverage Ratio	6,000,000		6,000,000		6,000,000	6,000,000
Proceeds from Lines of Credit			7,500,000
Repayments of Lines of Credit			7,500,000
Line of Credit, Outstanding	0		0		0	0
Letters of Credit Outstanding, Amount	3,500,000		3,500,000		3,500,000	3,500,000
Line of Credit Facility, Current Borrowing Capacity	17,500,000		17,500,000		17,500,000	17,500,000
Maximum | Senior Notes
Debt
Debt Instrument, Covenant Compliance, EBITDA	10,000,000		10,000,000		10,000,000	10,000,000
Minimum Fixed Charge Coverage Amount			$ 15,000,000
Maximum Leverage Ratio			11.5
Minimum Fixed Charge Ratio			1.3
Maximum | London Interbank Offered Rate (LIBOR) | Bank Of Montreal
Debt
Debt Instrument, Basis Spread on Variable Rate			2.25%
Minimum | Senior Notes
Debt
Debt Instrument, Covenant Compliance, EBITDA	7,500,000		$ 7,500,000		7,500,000	7,500,000
Minimum Fixed Charge Coverage Amount			$ 10,000,000
Maximum Leverage Ratio			3.5
Minimum Fixed Charge Ratio			0.25
Minimum | London Interbank Offered Rate (LIBOR) | Bank Of Montreal
Debt
Debt Instrument, Basis Spread on Variable Rate			1.75%
Series A Senior Notes | Senior Notes
Debt
Long-Term Debt	$ 26,400,000		$ 26,400,000		$ 26,400,000	$ 26,400,000
Interest Rate	7.73%		7.73%		7.73%	7.73%
Series B Senior Notes | Senior Notes
Debt
Long-Term Debt	$ 19,800,000		$ 19,800,000		$ 19,800,000	$ 19,800,000
Interest Rate	8.63%		8.63%		8.63%	8.63%
Series C Senior Notes | Senior Notes
Debt
Long-Term Debt	$ 19,800,000		$ 19,800,000		$ 19,800,000	$ 19,800,000
Interest Rate	8.78%		8.78%		8.78%	8.78%
Senior Notes April 2018
Debt
Additional Interest Rate	2.00%		2.00%		2.00%	2.00%
Warehouse | Senior Notes
Debt
Repayments of Debt			$ 5,500,000
Common Stock | Senior Notes
Debt
Repayments of Debt			$ 63,500,000

DEBT SCHEDULE OF LONG TERM DEBT

DEBT SCHEDULE OF LONG TERM DEBT (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Debt
Senior Notes	$ 66,000	$ 135,000
Long-term Debt, Current Maturities	(6,000)	0
Senior Notes
Debt
Senior Notes	66,000	135,000
Long-term Debt, Current Maturities	(6,000)	0
Deferred financing costs	(692)	(1,566)
Long-term debt, net	$ 59,308	$ 133,434

DEBT SCHEDULE OF INTEREST EXPEN

DEBT SCHEDULE OF INTEREST EXPENSE (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Debt Disclosure [Abstract]
Interest on notes and line of credit commitment fees	$ 1,963	$ 2,203	$ 4,798	$ 3,738
Make-whole payments	1,760	0	2,554	0
Amortization of deferred financing costs	529	881	1,350	1,666
Gross interest expense	4,252	3,084	8,702	5,404
Less capitalized interest	(35)	(84)	(65)	(175)
Interest expense, net	$ 4,217	$ 3,000	$ 8,637	$ 5,229

FINANCIAL INFORMATION FOR SUB48

FINANCIAL INFORMATION FOR SUBSIDIARY GUARANTORS OF POSSIBLE FUTURE PUBLIC DEBT (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Guarantees [Abstract]
Cash	$ 6,190	$ 4,464

ASSET RETIREMENT OBLIGATION (Na

ASSET RETIREMENT OBLIGATION (Narrative) (Details) $ in Millions	6 Months Ended
	Jun. 30, 2017USD ($)
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Asset Retirement Obligation, Undiscounted Amount	$ 59.3
Minimum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Credit Adjusted Risk-Free Rates to Discount Abandonment Liabilities	6.90%
Maximum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Credit Adjusted Risk-Free Rates to Discount Abandonment Liabilities	9.70%

ASSET RETIREMENT OBLIGATION (Sc

ASSET RETIREMENT OBLIGATION (Schedule of Changes to Asset Retirement Obligation) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Asset Retirement Obligation Disclosure [Abstract]
Asset retirement obligation, at beginning of period	$ 20,365	$ 23,393	$ 19,976	$ 22,951
Liabilities settled	0	(3)	0	(3)
Accretion of discount	389	442	778	884
Total asset retirement obligation, at end of period	$ 20,754	$ 23,832	$ 20,754	$ 23,832

COMMON STOCK (Details)

COMMON STOCK (Details) - USD ($) $ in Thousands	1 Months Ended	6 Months Ended
	Mar. 31, 2017	Jun. 30, 2017	Jun. 30, 2016	May 31, 2017
Issuance of common stock, net of transaction expenses		$ 57,479	$ 0
At the market offering common stock offering capacity				$ 40,000
Common Stock
Issuance of common stock (shares)	50,072,917

COMPENSATION PLANS (Narrative)

COMPENSATION PLANS (Narrative) (Details) - USD ($) shares in Thousands, $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2017	Jun. 30, 2016
Equity Incentive Compensation Plan [Abstract]
Shares available for issuance	3,600	3,600
Non Qualified Stock Options [Abstract]
Compensation expense		$ 1.7	$ 1.2
Unrecognized compensation expense	$ 7.3	$ 7.3
Minimum
Non Qualified Stock Options [Abstract]
Period over which grants vest (in years)		1 year
Maximum
Non Qualified Stock Options [Abstract]
Period over which grants vest (in years)		3 years
Restricted Stock
Equity Incentive Compensation Plan [Abstract]
Awards outstanding (shares)	3,912,579	3,912,579
Restricted Stock [Abstract]
Shares granted (in shares)	1,400
Performance Units
Equity Incentive Compensation Plan [Abstract]
Awards outstanding (shares)	126,050	126,050
Non Qualified Stock Options [Abstract]
Period over which grants vest (in years)		4 years
Stock Options
Equity Incentive Compensation Plan [Abstract]
Awards outstanding, options	2,326,290	2,326,290
Non Qualified Stock Options [Abstract]
Awards granted, stock options (in shares)	600

COMPENSATION PLANS COMPENSATI53

COMPENSATION PLANS COMPENSATION PLANS (Schedule of Outstanding Share Based Awards) (Details) shares in Thousands	Jun. 30, 2017shares
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards outstanding (shares)	3,912,579
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards outstanding (shares)	2,326,290
Performance Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards outstanding (shares)	126,050

OTHER OPERATING (INCOME) EXPE54

OTHER OPERATING (INCOME) EXPENSE OTHER OPERATING (INCOME) EXPENSE (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Other Income and Expenses [Abstract]
Water sales	$ (1,097)	$ 0	$ (1,421)	$ 0
Accrual for land issues	600	0	600	0
Loss (gain) on sale of assets	5	0	1,564	(15)
Other expense (income)	35	0	127	(89)
Insurance reimbursement	0	(1,211)	0	(1,211)
Compensating tax adjustment	0	(1,086)	0	(1,086)
Reserve for Inventory Obsolescence	0	496	0	496
Other operating (income) expense	$ 457	$ 1,801	$ (870)	$ 1,905

INCOME TAXES (Narrative) (Detai

INCOME TAXES (Narrative) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Valuation and Qualifying Accounts Disclosure [Line Items]
Effective Tax Rate	0.00%	0.00%
Valuation Allowance of Deferred Tax Assets [Member]
Valuation and Qualifying Accounts Disclosure [Line Items]
Increase in Valuation Allowance	$ 6,183	$ 13,847

INCOME TAXES INCOME TAXES (VALU

INCOME TAXES INCOME TAXES (VALUATION ALLOWANCES) (Details) - Valuation Allowance of Deferred Tax Assets [Member] - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Valuation and Qualifying Accounts Disclosure [Line Items]
Valuation Allowance, Beginning of Period	$ 326,097	$ 300,601
Valuation Allowance, Additions	6,183	13,847
Valuation Allowance, End of Period	$ 332,280	$ 314,448

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Reclamation Deposits and Surety Bonds
Security placed with the State of Utah and BLM		$ 18.4		$ 21.4
Long-term restricted cash deposits		0.5		$ 3.5
Surety bonds issued by an insurer		$ 17.9
Future Operating Lease Commitments
Operating Lease, Contract Term, Maximum (in years)		20 years
Rental and lease expenses	$ 1.5	$ 3	$ 3.1

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Senior Notes, Carrying Value	$ 66,000	$ 135,000
Senior Notes, Fair Value	$ 65,800	$ 131,000

RESTRUCTURING CHARGE (Narrative

RESTRUCTURING CHARGE (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Restructuring Charge [Abstract]
Restructuring charge	$ 266	$ 1,914	$ 266	$ 2,314

BUSINESS SEGMENTS BUSINESS SEGM

BUSINESS SEGMENTS BUSINESS SEGMENTS (Narrative) (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)segment	Jun. 30, 2016USD ($)
Segment Reporting [Abstract]
Number of reportable segments | segment			2
Segment Reporting Information [Line Items]
Restructuring charges	$ 266	$ 1,914	$ 266	$ 2,314
Trio
Segment Reporting Information [Line Items]
Restructuring charges	$ 300		$ 300
Operating Segments | Potash
Segment Reporting Information [Line Items]
Restructuring charges		$ 1,900		2,100
Corporate
Segment Reporting Information [Line Items]
Restructuring charges				$ 200

BUSINESS SEGMENTS BUSINESS SE61

BUSINESS SEGMENTS BUSINESS SEGMENT (Information by Segment) (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Segment Reporting Information [Line Items]
Sales		$ 43,910	$ 51,840	$ 92,242	$ 125,117
Less: Freight costs		7,985	8,931	16,706	19,263
Warehousing and handling costs		2,197	2,538	4,968	5,202
Cost of goods sold		29,714	41,850	65,586	101,627
Lower-of-cost-or-market inventory adjustments		317	2,930	4,141	11,937
Costs associated with abnormal production and other		0	1,057	0	1,707
Gross Deficit		3,697	(5,466)	841	(14,619)
Depreciation, depletion and amortization expense	[1]	8,297	9,841	17,620	24,209
Operating Segments | Potash
Segment Reporting Information [Line Items]
Sales		27,814	39,196	55,034	92,891
Less: Freight costs		3,578	6,882	6,537	13,433
Warehousing and handling costs		1,366	2,132	2,878	4,286
Cost of goods sold		18,822	32,502	39,242	79,790
Lower-of-cost-or-market inventory adjustments		33	2,930	33	11,937
Costs associated with abnormal production and other			0		650
Gross Deficit		4,015	(5,250)	6,344	(17,205)
Depreciation, depletion and amortization expense	[1]	6,555	8,647	14,118	20,880
Operating Segments | Trio
Segment Reporting Information [Line Items]
Sales		16,096	12,644	37,208	32,226
Less: Freight costs		4,407	2,049	10,169	5,830
Warehousing and handling costs		831	406	2,090	916
Cost of goods sold		10,892	9,348	26,344	21,837
Lower-of-cost-or-market inventory adjustments		284	0	4,108	0
Costs associated with abnormal production and other			1,057		1,057
Gross Deficit		(318)	(216)	(5,503)	2,586
Depreciation, depletion and amortization expense	[1]	1,705	879	3,404	2,554
Corporate/Other
Segment Reporting Information [Line Items]
Sales		0	0	0	0
Less: Freight costs		0	0	0	0
Warehousing and handling costs		0	0	0	0
Cost of goods sold		0	0	0	0
Lower-of-cost-or-market inventory adjustments		0	0	0	0
Costs associated with abnormal production and other			0		0
Gross Deficit		0	0	0	0
Depreciation, depletion and amortization expense	[1]	$ 37	$ 315	$ 98	$ 775
[1]	Depreciation, depletion and amortization incurred for potash and Trio® excludes depreciation, depletion and amortization amounts absorbed in or (relieved from) inventory.

RECENT ACCOUNTING PRONOUNCEME62

RECENT ACCOUNTING PRONOUNCEMENTS RECENT ACCOUNTING PRONOUNCEMENTS (Narrative) (Details) $ in Thousands	Dec. 31, 2016USD ($)
Retained Earnings
Cumulative Effect of New Accounting Principle in Period of Adoption	$ 120