Intrepid Potash (IPI) 10-Q 7 May 19 2019 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2019	Apr. 30, 2019
Document and Entity Information [Abstract]
Entity Registrant Name	Intrepid Potash, Inc.
Entity Central Index Key	0001421461
Document Type	10-Q
Document Period End Date	Mar. 31, 2019
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		131,042,780
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
ASSETS
Cash and cash equivalents	$ 34,032	$ 33,222
Accounts receivable:
Trade, net	28,217	25,161
Other receivables, net	959	597
Inventory, net	86,270	82,046
Prepaid expenses and other current assets	7,480	4,332
Total current assets	156,958	145,358
Property, plant and equipment, and mineral properties, net	347,670	346,209
Long-term parts inventory, net	29,895	30,031
Other assets, net	3,594	3,633
Total Assets	538,117	525,231
Accounts payable:
Trade	12,017	9,107
Related parties	28	28
Income taxes payable	914	914
Accrued liabilities	8,535	8,717
Accrued employee compensation and benefits	4,204	4,124
Other current liabilities	10,725	11,891
Total current liabilities	36,423	34,781
Long-term debt, net	49,670	49,642
Asset retirement obligation	23,492	23,125
Operating lease liabilities	3,766	0
Other non-current liabilities	420	420
Total Liabilities	113,771	107,968
Commitments and Contingencies
Common stock, $0.001 par value; 400,000,000 shares authorized; 128,781,031 and 128,716,595 shares outstanding at March 31 2019 and December 31, 2018, respectively	129	129
Additional paid-in capital	650,130	649,202
Retained deficit	(225,913)	(232,068)
Total Stockholders' Equity	424,346	417,263
Total Liabilities and Stockholders' Equity	$ 538,117	$ 525,231

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2019	Dec. 31, 2018
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	128,781,031

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Less:
Lower of cost or net realizable value inventory adjustments	$ 0	$ 705
Gross Margin	13,168	7,200
Selling and administrative	5,807	3,970
Accretion of asset retirement obligation	417	417
Care and maintenance expense	149	128
Other operating expense	371	168
Operating Income	6,424	2,517
Other Income (Expense)
Interest Expense, net	(603)	(878)
Interest income	0	98
Other income	334	20
Income Before Income Taxes	6,155	1,757
Income Tax Expense	0	0
Net Income	$ 6,155	$ 1,757
Weighted Average Shares Outstanding:
Basic (in shares)	128,730	127,661
Diluted (in shares)	130,880	130,765
Earnings Per Share:
Basic (in dollars per share)	$ 0.05	$ 0.01
Diluted (in dollars per share)	$ 0.05	$ 0.01
Freight Costs [Member]
Less:
Cost of Goods Sold	$ 10,456	$ 10,483
Warehouse and Handling [Member]
Less:
Cost of Goods Sold	2,236	2,273
Mineral [Member]
Sales	57,554	57,320
Less:
Cost of Goods Sold	$ 31,694	$ 36,659

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Deficit [Member]
Balance (in shares) at Dec. 31, 2017		127,646,530
Balance at Dec. 31, 2017	$ 402,090	$ 128	$ 645,813	$ (243,851)
Net Income	1,757			1,757
Stock-based compensation	947		947
Vesting of restricted common stock, net of restricted common stock used to fund employee income tax withholding due upon vesting (in shares)		30,708
Vesting of restricted common stock, net of restricted common stock used to fund employee income tax withholding due upon vesting	(62)		(62)
Exercise of stock options (in shares)		11,199
Exercise of stock options	11		11
Balance (in shares) at Mar. 31, 2018		127,688,437
Balance at Mar. 31, 2018	404,743	$ 128	646,709	(242,094)
Balance (in shares) at Dec. 31, 2018		128,716,595
Balance at Dec. 31, 2018	417,263	$ 129	649,202	(232,068)
Net Income	6,155			6,155
Stock-based compensation	1,031		1,031
Vesting of restricted common stock, net of restricted common stock used to fund employee income tax withholding due upon vesting (in shares)		55,249
Vesting of restricted common stock, net of restricted common stock used to fund employee income tax withholding due upon vesting	(112)		(112)
Exercise of stock options (in shares)		9,187
Exercise of stock options	9		9
Balance (in shares) at Mar. 31, 2019		128,781,031
Balance at Mar. 31, 2019	$ 424,346	$ 129	$ 650,130	$ (225,913)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2019	Mar. 31, 2018
Cash Flows from Operating Activities:
Net Income		$ 6,155	$ 1,757
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, depletion and accretion	[1]	8,746	8,515
Accretion of asset retirement obligation		417	417
Amortization of deferred financing costs		68	183
Stock-based compensation		1,031	947
Lower of cost or net realizable value inventory adjustments		0	705
Loss on disposal of assets		19	(34)
Allowance for parts inventory obsolescence		4	0
Changes in operating assets and liabilities:
Trade accounts receivable, net		(3,057)	(11,828)
Other receivables, net		(362)	(207)
Refundable income taxes		0	2,844
Inventory, net		(4,091)	6,009
Prepaid expenses and other current assets		103	914
Accounts payable, accrued liabilities, and accrued employee compensation and benefits		2,455	1
Operating lease liabilities		(479)	0
Other liabilities		(2,888)	3,681
Net cash provided by operating activities		8,121	13,904
Cash Flows from Investing Activities:
Additions to property, plant, equipment, and mineral properties		(3,958)	(6,470)
Deposit on asset purchase		(3,250)	0
Proceeds from sale of property, plant, equipment, and mineral properties		0	34
Net cash used in investing activities		(7,208)	(6,436)
Cash Flows from Financing Activities:
Proceeds from short-term borrowings on credit facility		0	13,500
Repayments of short-term borrowings on credit facility		0	(15,900)
Employee tax withholding paid for restricted stock upon vesting		(112)	(62)
Proceeds from exercise of stock options		9	11
Net cash used in financing activities		(103)	(2,451)
Net Change in Cash, Cash Equivalents and Restricted Cash		810	5,017
Cash, Cash Equivalents, and Restricted Cash, beginning of period		33,704	1,549
Cash, Cash Equivalents, and Restricted Cash, end of period		34,514	6,566
Net cash paid (refunded) during the period for:
Interest		49	95
Income taxes		0	(2,843)
Accrued purchases for property, plant, equipment, and mineral properties		1,435	933
Right-of-use assets exchanged for new operating lease liabilities		$ 5,916	$ 0
[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	3 Months Ended
	Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
COMPANY BACKGROUND	COMPANY BACKGROUND We are a diversified mineral company that delivers potassium, magnesium, sulfur, salt, and water products essential for customer success in agriculture, animal feed and the oil and gas industry. We are the only U.S. producer of muriate of potash (sometimes referred to as potassium chloride or potash), which is applied as an essential nutrient for healthy crop development, utilized in several industrial applications, and used as an ingredient in animal feed. In addition, we produce a specialty fertilizer, Trio ® , which delivers three key nutrients, potassium, magnesium, and sulfate, in a single particle. We also provide water, magnesium chloride, brine and various oilfield products and services. Our extraction and production operations are conducted entirely in the continental United States. We produce potash from three solution mining facilities: our HB solution mine in Carlsbad, New Mexico, our solution mine in Moab, Utah, and our 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. We have water rights in New Mexico under which we sell water primarily to support oil and gas development in the Permian Basin near our Carlsbad facilities. We continue to work to expand our sales of water. On May 1, 2019, we completed our acquisition of 100% of certain Dinwiddie Jal Ranch assets located in Lea County, New Mexico, consisting primarily of land, water rights, and other related assets from Dinwiddie Cattle Company. We have three segments: potash, Trio ® , and oilfield solutions. We account for sales of byproducts as revenue in the potash or Trio ® segment based on which segment generates the byproduct. Intersegment sales prices are market based and are eliminated. "Intrepid," "our," "we," or "us," means Intrepid Potash, Inc. and its consolidated subsidiaries.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2019
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 unaudited condensed consolidated financial statements should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2018, as filed with the SEC on March 12, 2019. Except for the accounting policies for leases that were updated as a result of adopting Accounting Standards Update ("ASU") No. 2016-02, Leases , as discussed in more detail below, there have been no changes to our significant accounting policies described in our Annual Report on Form 10-K for the year ended December 31, 2018. Recently Adopted Accounting Standards In February 2016, the Financial Accounting Standards Board ("FASB") issued ASU No. 2016-02, Leases , ("ASC Topic 842"), which we adopted on January 1, 2019, using a modified retrospective method, applying the new standard to all leases existing at the date of initial application. We used the effective date as our date of initial application. Consequently, financial information will not be updated, and disclosures required under the new standard will not be provided for dates before January 1, 2019. We determine if an arrangement is or contains a lease at inception of the arrangement. The new standard requires lessees to recognize lease assets and liabilities on their balance sheet for those leases classified as operating leases under previous GAAP. These assets and liabilities are recorded generally at the present value of the contracted lease payments, using the rate implicit in the lease if known. If the implicit rate is not known, we use our estimated incremental borrowing rate. We do not account for lease and non-lease components separately and we do not apply the requirements of ASC Topic 842 to short-term leases with a term of one year or less at inception. Lease expense is recognized on a straight-line basis over the lease term. As a result of adopting the new standard, we recorded operating lease right-of-use ("ROU") assets of $5.9 million and operating lease liabilities of $6.1 million on January 1, 2019. Pronouncements Issued But Not Yet Adopted In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - (Topic 326): Measurement of Credit Losses on Financial Instruments , which changes the way entities recognize impairment of many financial assets by requiring immediate recognition of estimated credit losses expected to occur over their remaining life. This guidance is effective for us for annual and interim periods beginning after December 15, 2019. Because we have historically experienced minimal bad debt expense related to our trade receivables, we do not expect the adoption of this standard to have a material impact on our condensed consolidated financial statements. 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	3 Months Ended
	Mar. 31, 2019
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE Basic earnings per share is computed by dividing net income by the weighted-average number of shares of common stock outstanding during the period. For purposes of determining diluted earnings per share, basic weighted-average common shares outstanding is adjusted to include potentially dilutive securities, including restricted stock, stock options, and performance units. The treasury-stock method is used to measure the dilutive impact of potentially dilutive shares. Potentially dilutive shares are excluded from the diluted weighted-average shares outstanding computation in periods in which they have an anti-dilutive effect. The following table shows the calculation of basic and diluted earnings per share (in thousands, except per share amounts): Three Months Ended March 31, 2019 2018 Net income $ 6,155 $ 1,757 Basic weighted-average common shares outstanding 128,730 127,661 Add: Dilutive effect of restricted stock 2,033 2,184 Add: Dilutive effect of stock options 117 920 Diluted weighted-average common shares outstanding 130,880 130,765 Basic $ 0.05 $ 0.01 Diluted $ 0.05 $ 0.01 The following table shows the shares that have an anti-dilutive effect and are excluded from the diluted weighted-average shares outstanding computations (in thousands): Three Months Ended March 31, 2019 2018 Anti-dilutive effect of restricted stock 79 — Anti-dilutive effect of stock options outstanding 1,701 545

CASH, CASH EQUIVALENTS AND REST

CASH, CASH EQUIVALENTS AND RESTRICTED CASH	3 Months Ended
	Mar. 31, 2019
Cash and Cash Equivalents [Abstract]
CASH, CASH EQUIVALENTS AND RESTRICTED CASH	CASH, CASH EQUIVALENTS AND RESTRICTED CASH Total cash, cash equivalents and restricted cash, as shown on the condensed consolidated statements of cash flows are included in the following accounts at March 31, 2019, and 2018 (in thousands): March 31, 2019 March 31, 2018 Cash and cash equivalents $ 34,032 $ 6,085 Restricted cash included in other long-term assets 482 481 Total cash, cash equivalents, and restricted cash as shown in the statement of cash flows $ 34,514 $ 6,566 Restricted cash included in other long-term assets on the balance sheet represents amounts whose use is restricted by contractual agreements with the Bureau of Land Management or the State of Utah, as applicable, as security to fund future reclamation obligations at our sites.

INVENTORY AND LONG-TERM PARTS I

INVENTORY AND LONG-TERM PARTS INVENTORY	3 Months Ended
	Mar. 31, 2019
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, 2019 , and December 31, 2018 (in thousands): March 31, 2019 December 31, 2018 Finished goods product inventory $ 56,695 $ 48,370 In-process mineral inventory 19,729 24,325 Total product inventory 76,424 72,695 Current parts inventory, net 9,846 9,351 Total current inventory, net 86,270 82,046 Long-term parts inventory, net 29,895 30,031 Total inventory, net $ 116,165 $ 112,077 Parts inventory is shown net of estimated allowances for obsolescence of $1.7 million as of March 31, 2019, and December 31, 2018. As a result of routine assessments of the lower of weighted-average cost or estimated net realizable value of our finished goods product inventory, we recorded charges of $0.7 million for the three months ended March 31, 2018. For the three months ended March 31, 2019, we recorded no such charges.

PROPERTY, PLANT, EQUIPMENT, AND

PROPERTY, PLANT, EQUIPMENT, AND MINERAL PROPERTIES	3 Months Ended
	Mar. 31, 2019
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): March 31, 2019 December 31, 2018 Land $ 519 $ 519 Ponds and land improvements 59,007 58,961 Mineral properties and development costs 139,443 139,418 Buildings and plant 81,483 81,429 Machinery and equipment 243,941 241,977 Vehicles 5,807 5,669 Office equipment and improvements 13,945 13,779 Operating lease ROU assets 5,916 — Construction in progress 4,190 2,822 Total property, plant, equipment, and mineral properties, gross $ 554,251 $ 544,574 Less: accumulated depreciation, depletion, and amortization (206,581 ) (198,365 ) Total property, plant, equipment, and mineral properties, net $ 347,670 $ 346,209 We incurred the following expenses for depreciation, depletion, and amortization, including expenses capitalized into inventory, for the following periods (in thousands): Three Months Ended March 31, 2019 2018 Depreciation $ 6,855 $ 6,919 Depletion 1,418 1,596 Amortization of right of use assets 473 — Total incurred $ 8,746 $ 8,515

LEASES

LEASES	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Leases	LEASES We have operating leases for mining equipment, trucks, rail cars, and office space. Our operating leases have remaining leases terms ranging from less than one year to five years. Leases recorded on the balance sheet consist of the following (amounts in thousands): Leases Classification on the Balance Sheet Balance as of Assets Operating lease ROU assets, net Property, plant, equipment, and mineral properties, net $ 5,443 Liabilities Current operating lease liabilities Other current liabilities $ 1,851 Non-current operating lease liabilities Operating lease liabilities $ 3,766 Other information related to lease term and discount rate is as follows: As of March 31, 2019 Weighted average remaining lease term - operating leases (in years) 3.1 Weighted average discount rate - operating leases 5.77 % The components of lease expense are as follows: For the Three Months Ended March 31, 2019 The components of lease expense were as follows: Operating lease expense $ 573 Short-term lease expense 28 Total lease expense $ 601 Rental and lease expenses for the three months ended March 31, 2018, were $1.0 million . Maturities of lease liabilities are summarized as follows (amounts in thousands): Operating Leases 2019 (excluding the three months ended March 31, 2019) $ 1,635 2020 1,906 2021 1,551 2022 996 2023 73 Thereafter — Total future minimum lease payments $ 6,161 Less - amount representing interest 544 Present value of future minimum lease payments $ 5,617 Less - current lease obligations 1,851 Long-term lease obligations $ 3,766 At December 31, 2018 and prior to the adoption of ASC Topic 842, the annual future minimum lease payments were as follows: Years Ending December 31, Operating Leases 2019 $ 2,266 2020 1,874 2021 1,602 2022 1,083 2023 172 Thereafter 1,343 Total $ 8,340

DEBT

DEBT	3 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
DEBT	DEBT Senior Notes —As of March 31, 2019 , we had outstanding $50 million of senior notes (the "Notes") consisting of the following series: • $20 million of Senior Notes, Series A, due April 16, 2020 • $15 million of Senior Notes, Series B, due April 14, 2023 • $15 million of Senior Notes, Series C, due April 16, 2025 The agreement governing the Notes contains certain financial covenants, including the following: • We were required to maintain a minimum fixed charge coverage ratio of 0.75 to 1.0 for the four quarters ended March 31, 2019. Our fixed charge coverage ratio as of March 31, 2019, was 14.2 to 1.0, therefore we were in compliance with this covenant. Going forward we are required to maintain a minimum fixed charge coverage ratio of 1.0 to 1.0 for the four quarters ending June 30, 2019, and 1.3 to 1.0 for each four-quarter period ending on or after September 30, 2019. • For the quarter ended March 31, 2019, we were allowed a maximum leverage ratio of 5.5 to 1.0. Our leverage ratio was 0.9 to 1.0 for the quarter ending March 31, 2019, therefore we were in compliance with this covenant. Going forward we are allowed a maximum leverage ratio of 4.5 to 1.0 for the quarter ending June 30, 2019, and 3.5 to 1.0 for each quarter ending on or after September 30, 2019. Fixed charge coverage ratio and leverage ratio are calculated in accordance with the agreement governing the Notes. For both the three months ended March 31, 2019, and 2018, the interest rates on the Notes were 3.73% for the Series A Notes, 4.63% for the Series B Notes and 4.78% for the Series C Notes. These rates represent the lowest interest rates available under the Notes. The interest rates may adjust upward if we do not continue to meet certain financial covenants. We have granted to the collateral agent for the noteholders a first lien on substantially all of our non-current assets and a second lien on substantially all of our current assets. 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. 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 March 31, 2019 . Our outstanding long-term debt, net, as of March 31, 2019 , and December 31, 2018 , was as follows (in thousands): March 31, 2019 December 31, 2018 Notes $ 50,000 $ 50,000 Less deferred financing costs (330 ) (358 ) Long-term debt, net $ 49,670 $ 49,642 Credit Facility —We maintain an asset-based revolving credit facility with Bank of Montreal. The credit facility allows us to borrow up to $50 million , subject to monthly limits based on our inventory and receivables, and has a maturity date of October 31, 2023. Borrowings under the credit facility bear interest at LIBOR (London Interbank Offered Rate) plus an applicable margin of 1.50% to 2.00% per annum, 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. The obligations under the credit facility are unconditionally guaranteed by several of our subsidiaries. We occasionally borrow and repay amounts under the facility for near-term working capital needs or other purposes and may do so in the future. During the three months ended March 31, 2019, we had no borrowings under the facility. During the three months ended March 31, 2018, we borrowed $13.5 million and repaid $15.9 million under the facility. As of March 31, 2019, we had $1.0 million in outstanding letters of credit under the facility. Including the outstanding letters of credit, we had $49.0 million available to be borrowed under the facility as of March 31, 2019. We were in compliance with the applicable covenants under the facility as of March 31, 2019. Interest Expense —Interest expense is recorded net of any capitalized interest associated with investments in capital projects. We incurred gross interest expense of $0.6 million and $0.9 million for the three months ended March 31, 2019 , and 2018 , respectively. Amounts included in interest expense, net for the three and nine months ended March 31, 2019 , and 2018, were as follows (in thousands): Three Months Ended March 31, 2019 2018 Interest on Notes and credit facility $ 573 $ 749 Amortization of deferred financing costs 68 183 Gross interest expense 641 932 Less capitalized interest (38 ) (54 ) Interest expense, net $ 603 $ 878

FINANCIAL INFORMATION FOR SUBSI

FINANCIAL INFORMATION FOR SUBSIDIARY GUARANTORS OF POSSIBLE FUTURE PUBLIC DEBT	3 Months Ended
	Mar. 31, 2019
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 and totaled $34.0 million and $33.2 million at March 31, 2019 , and December 31, 2018 , respectively. If 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	3 Months Ended
	Mar. 31, 2019
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 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 March 31, 2019 2018 Asset retirement obligation, at beginning of period $ 23,125 $ 21,476 Accretion of discount 417 417 Total asset retirement obligation, at end of period $ 23,542 $ 21,893 The current portion of the asset retirement obligation of $0.1 million is included in "Other current liabilities" on the condensed consolidated balance sheet as of March 31, 2019. The undiscounted amount of asset retirement obligation was $59.5 million as of March 31, 2019 .

REVENUE

REVENUE	3 Months Ended
	Mar. 31, 2019
Revenue from Contract with Customer [Abstract]
REVENUE	REVENUE Revenue Recognition —We account for revenue in accordance with ASC Topic 606 Revenue from Contracts with Customers ("ASC 606"). Under ASC 606, we recognize revenue when control of the promised goods or services is transferred to customers in an amount that reflects the consideration we expect to be entitled in exchange for those goods or services. Contract Balances: The timing of revenue recognition, billings, and cash collection may result in contract assets or contract liabilities. For certain contracts, the customer has agreed to pay us before we have satisfied our performance obligations. Customer payments received before we have satisfied our performance obligations are accounted for as a contract liability. Our contract liability activity for the three months ended March 31, 2019, and 2018 is shown below. Amounts presented are in thousands: Three Months Ended March 31, 2019 2018 Beginning balance $ 11,678 $ — Additions — 3,879 Recognized as revenue during period (3,161 ) (192 ) Ending balance $ 8,517 $ 3,687 Disaggregation of Revenue: The tables below show the disaggregation of revenues by product and reconciles disaggregated revenues to segment revenues for the three months ended March 31, 2019, and 2018. We believe the disaggregation of revenue by products best depicts how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic conditions. Amounts presented are in thousands: For the Three Months Ended March 31, 2019 Product Potash Segment Trio ® Segment Oilfield Solutions Segment Intersegment Eliminations Total Potash $ 28,545 $ — $ 1,822 $ (1,208 ) $ 29,159 Trio ® — 16,550 — — 16,550 Water 340 942 4,104 — 5,386 Salt 3,001 317 — — 3,318 Magnesium Chloride 1,740 — — — 1,740 Brines 704 — — — 704 Other — — 697 — 697 Total Revenue $ 34,330 $ 17,809 $ 6,623 $ (1,208 ) $ 57,554 For the Three Months Ended March 31, 2018 Product Potash Segment Trio ® Segment Oilfield Solutions Segment Intersegment Eliminations Total Potash $ 27,064 $ — $ — $ — $ 27,064 Trio ® — 21,237 — — 21,237 Water 170 505 4,849 — 5,524 Salt 1,733 78 — — 1,811 Magnesium Chloride 1,405 — — — 1,405 Brines 234 — — — 234 Other — — 45 — 45 Total Revenue $ 30,606 $ 21,820 $ 4,894 $ — $ 57,320

COMPENSATION PLANS

COMPENSATION PLANS	3 Months Ended
	Mar. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
COMPENSATION PLANS	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. At March 31, 2019, approximately 2.7 million shares remained available for issuance under the Plan. For the three months ended March 31, 2019, we granted 0.4 million shares of restricted stock to executive officers and other key employees. These awards vest one or two years from the date of the grant and, in some cases, contain performance-vesting conditions. As of March 31, 2019, the following awards were outstanding under the Plan: Outstanding as of March 31, 2019 Restricted Shares 2,261,749 Non-qualified Stock Options 3,231,327 Total share-based compensation expense was $1.0 million and $0.9 million for the three months ended March 31, 2019, and 2018, respectively. As of March 31, 2019 , we had $5.5 million of total remaining unrecognized compensation expense related to awards, that will be expensed through 2021.

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2019
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Our anticipated annual 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 the three months ended March 31, 2019 , and March 31, 2018, we incurred no income tax expense. Our effective tax rate for both the three months ended March 31, 2019, and 2018, was 0% . Our effective tax rates differed from the statutory rate during each period primarily due to the valuation allowance established to offset our deferred tax assets. As of March 31, 2019 , 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 maintained a full valuation allowance against our net deferred tax assets as of March 31, 2019 , and December 31, 2018 .

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Reclamation Deposits and Surety Bonds —As of March 31, 2019 , and December 31, 2018 , we had $19.1 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, $0.5 million consisted of long-term restricted cash deposits reflected in "Other assets, net" on the condensed consolidated balance sheets and $18.6 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 and a letter of credit. 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 employee of Intrepid and Mosaic. In August 2015, the court denied Mosaic’s application for preliminary injunction. In July 2016, Mosaic filed a second complaint against Mr. Gamble and us in U.S. District Court for the District of New Mexico. In January 2018, the two lawsuits were consolidated into one lawsuit pending in the U.S. District Court for the District of New Mexico. Mosaic alleges against us violations of the New Mexico Uniform Trade Secrets Act, tortious interference with contract relating to Mr. Gamble’s separation of employment from Mosaic, violations of the Computer Fraud and Abuse Act, conversion, and civil conspiracy relating to the alleged misappropriation of Mosaic’s confidential information and related actions. Mosaic seeks monetary relief, including damages for actual loss and unjust enrichment, exemplary damages, attorneys' fees, and injunctive relief and has alleged damages of at least $22 million to $28 million plus other uncalculated damages. The lawsuit is progressing through discovery. A trial date has been set for September 2019. We are vigorously defending against the lawsuit. We have recorded no loss contingency in our statements of operations related to this legal matter. We are also subject to other claims and legal actions in the ordinary course of business. Legal costs are expensed as incurred. 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.

FAIR VALUE

FAIR VALUE	3 Months Ended
	Mar. 31, 2019
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE We measure our financial assets and liabilities in accordance with ASC Topic 820, Fair Value Measurements and Disclosures. As of March 31, 2019 , and December 31, 2018 , our cash consisted of bank deposits. Other financial assets and liabilities including accounts receivable, refundable income taxes, accounts payable, accrued liabilities, and advances on our credit facility are carried at cost which approximates fair value because of the short-term nature of these instruments. As of March 31, 2019 , and December 31, 2018 , the estimated fair value of our outstanding Notes was $49 million and $48.1 million , respectively. The fair value of our Notes 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.

BUSINESS SEGMENTS

BUSINESS SEGMENTS	3 Months Ended
	Mar. 31, 2019
Segment Reporting [Abstract]
BUSINESS SEGMENTS	BUSINESS SEGMENTS Our operations are organized into three segments: potash, Trio ® and oilfield solutions. The reportable segments are determined by management based on several factors including the types of products and services sold, production processes, markets served and the financial information available for 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. Intersegment sales prices are market-based and are eliminated in the "Other" column. Information for each segment is provided in the tables that follow (in thousands). Three Months Ended March 31, 2019 Potash Trio ® Oilfield Solutions Other Consolidated Sales $ 34,330 $ 17,809 $ 6,623 $ (1,208 ) $ 57,554 Less: Freight costs 4,640 5,035 781 — 10,456 Warehousing and handling 1,267 969 — — 2,236 Cost of goods sold 19,059 11,074 2,769 (1,208 ) 31,694 Gross Margin $ 9,364 $ 731 $ 3,073 $ — $ 13,168 Depreciation, depletion, and amortization incurred 1 $ 6,795 $ 1,558 $ 190 $ 203 $ 8,746 Three Months Ended March 31, 2018 Potash Trio ® Oilfield Solutions Other Consolidated Sales $ 30,606 $ 21,820 $ 4,894 $ — $ 57,320 Less: Freight costs 4,206 6,277 — — 10,483 Warehousing and handling 1,155 1,118 — — 2,273 Cost of goods sold 20,269 15,798 592 — 36,659 Lower of cost or net — 705 — — 705 Gross Margin (Deficit) $ 4,976 $ (2,078 ) $ 4,302 $ — $ 7,200 Depreciation, depletion, and amortization incurred 1 $ 6,778 $ 1,633 $ 64 $ 40 $ 8,515 1 Depreciation, depletion, and amortization incurred for potash and Trio ® excludes depreciation, depletion and amortization amounts absorbed in or relieved from inventory.

SUBSEQUENT EVENT

SUBSEQUENT EVENT	3 Months Ended
	Mar. 31, 2019
Subsequent Events [Abstract]
Subsequent Event	SUBSEQUENT EVENT On May 1, 2019, we completed our acquisition of 100% of certain Dinwiddie Jal Ranch assets located in Lea County, New Mexico, consisting primarily of land, water rights, and other related assets from Dinwiddie Cattle Company. We paid at closing $53 million , of which $3.3 million was placed as a deposit in February 2019. We have agreed to pay up to an additional $12 million pending the resolution of certain issues identified during the diligence process. Dinwiddie Cattle Company has also reserved a 20 -year, 10% royalty, proportionally reduced as to our interest, on certain produced water disposal revenue relating to the property and certain other properties located near the property. The acquisition was completed pursuant to a purchase and sale agreement entered into on February 5, 2019, among Dinwiddie Cattle Company, Sherbrooke Partners LLC, and us. Sherbrooke Partners LLC did not participate in the completed acquisition.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2019
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 unaudited condensed consolidated financial statements should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2018, as filed with the SEC on March 12, 2019. Except for the accounting policies for leases that were updated as a result of adopting Accounting Standards Update ("ASU") No. 2016-02, Leases , as discussed in more detail below, there have been no changes to our significant accounting policies described in our Annual Report on Form 10-K for the year ended December 31, 2018.
Recently Adopted Accounting Standards	Recently Adopted Accounting Standards In February 2016, the Financial Accounting Standards Board ("FASB") issued ASU No. 2016-02, Leases , ("ASC Topic 842"), which we adopted on January 1, 2019, using a modified retrospective method, applying the new standard to all leases existing at the date of initial application. We used the effective date as our date of initial application. Consequently, financial information will not be updated, and disclosures required under the new standard will not be provided for dates before January 1, 2019. We determine if an arrangement is or contains a lease at inception of the arrangement. The new standard requires lessees to recognize lease assets and liabilities on their balance sheet for those leases classified as operating leases under previous GAAP. These assets and liabilities are recorded generally at the present value of the contracted lease payments, using the rate implicit in the lease if known. If the implicit rate is not known, we use our estimated incremental borrowing rate. We do not account for lease and non-lease components separately and we do not apply the requirements of ASC Topic 842 to short-term leases with a term of one year or less at inception. Lease expense is recognized on a straight-line basis over the lease term. As a result of adopting the new standard, we recorded operating lease right-of-use ("ROU") assets of $5.9 million and operating lease liabilities of $6.1 million on January 1, 2019.
Pronouncements Issued But Not yet Adopted	Pronouncements Issued But Not Yet Adopted In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - (Topic 326): Measurement of Credit Losses on Financial Instruments , which changes the way entities recognize impairment of many financial assets by requiring immediate recognition of estimated credit losses expected to occur over their remaining life. This guidance is effective for us for annual and interim periods beginning after December 15, 2019. Because we have historically experienced minimal bad debt expense related to our trade receivables, we do not expect the adoption of this standard to have a material impact on our condensed consolidated financial statements.
Disaggregation of Revenue	The tables below show the disaggregation of revenues by product and reconciles disaggregated revenues to segment revenues for the three months ended March 31, 2019, and 2018. We believe the disaggregation of revenue by products best depicts how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic conditions. Amounts presented are in thousands: For the Three Months Ended March 31, 2019 Product Potash Segment Trio ® Segment Oilfield Solutions Segment Intersegment Eliminations Total Potash $ 28,545 $ — $ 1,822 $ (1,208 ) $ 29,159 Trio ® — 16,550 — — 16,550 Water 340 942 4,104 — 5,386 Salt 3,001 317 — — 3,318 Magnesium Chloride 1,740 — — — 1,740 Brines 704 — — — 704 Other — — 697 — 697 Total Revenue $ 34,330 $ 17,809 $ 6,623 $ (1,208 ) $ 57,554 For the Three Months Ended March 31, 2018 Product Potash Segment Trio ® Segment Oilfield Solutions Segment Intersegment Eliminations Total Potash $ 27,064 $ — $ — $ — $ 27,064 Trio ® — 21,237 — — 21,237 Water 170 505 4,849 — 5,524 Salt 1,733 78 — — 1,811 Magnesium Chloride 1,405 — — — 1,405 Brines 234 — — — 234 Other — — 45 — 45 Total Revenue $ 30,606 $ 21,820 $ 4,894 $ — $ 57,320
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)	3 Months Ended
	Mar. 31, 2019
Earnings Per Share [Abstract]
Schedule of Calculation of Basic and Diluted Loss or Earnings Per Share	Basic earnings per share is computed by dividing net income by the weighted-average number of shares of common stock outstanding during the period. For purposes of determining diluted earnings per share, basic weighted-average common shares outstanding is adjusted to include potentially dilutive securities, including restricted stock, stock options, and performance units. The treasury-stock method is used to measure the dilutive impact of potentially dilutive shares. Potentially dilutive shares are excluded from the diluted weighted-average shares outstanding computation in periods in which they have an anti-dilutive effect. The following table shows the calculation of basic and diluted earnings per share (in thousands, except per share amounts): Three Months Ended March 31, 2019 2018 Net income $ 6,155 $ 1,757 Basic weighted-average common shares outstanding 128,730 127,661 Add: Dilutive effect of restricted stock 2,033 2,184 Add: Dilutive effect of stock options 117 920 Diluted weighted-average common shares outstanding 130,880 130,765 Basic $ 0.05 $ 0.01 Diluted $ 0.05 $ 0.01
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following table shows the shares that have an anti-dilutive effect and are excluded from the diluted weighted-average shares outstanding computations (in thousands): Three Months Ended March 31, 2019 2018 Anti-dilutive effect of restricted stock 79 — Anti-dilutive effect of stock options outstanding 1,701 545

CASH, CASH EQUIVALENTS AND RE_2

CASH, CASH EQUIVALENTS AND RESTRICTED CASH (Tables)	3 Months Ended
	Mar. 31, 2019
Cash and Cash Equivalents [Abstract]
Cash, Cash Equivalents And Restricted Cash	Total cash, cash equivalents and restricted cash, as shown on the condensed consolidated statements of cash flows are included in the following accounts at March 31, 2019, and 2018 (in thousands): March 31, 2019 March 31, 2018 Cash and cash equivalents $ 34,032 $ 6,085 Restricted cash included in other long-term assets 482 481 Total cash, cash equivalents, and restricted cash as shown in the statement of cash flows $ 34,514 $ 6,566

INVENTORY AND LONG-TERM PARTS_2

INVENTORY AND LONG-TERM PARTS INVENTORY (Tables)	3 Months Ended
	Mar. 31, 2019
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, 2019 , and December 31, 2018 (in thousands): March 31, 2019 December 31, 2018 Finished goods product inventory $ 56,695 $ 48,370 In-process mineral inventory 19,729 24,325 Total product inventory 76,424 72,695 Current parts inventory, net 9,846 9,351 Total current inventory, net 86,270 82,046 Long-term parts inventory, net 29,895 30,031 Total inventory, net $ 116,165 $ 112,077

PROPERTY, PLANT, EQUIPMENT, A_2

PROPERTY, PLANT, EQUIPMENT, AND MINERAL PROPERTIES (Tables)	3 Months Ended
	Mar. 31, 2019
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): March 31, 2019 December 31, 2018 Land $ 519 $ 519 Ponds and land improvements 59,007 58,961 Mineral properties and development costs 139,443 139,418 Buildings and plant 81,483 81,429 Machinery and equipment 243,941 241,977 Vehicles 5,807 5,669 Office equipment and improvements 13,945 13,779 Operating lease ROU assets 5,916 — Construction in progress 4,190 2,822 Total property, plant, equipment, and mineral properties, gross $ 554,251 $ 544,574 Less: accumulated depreciation, depletion, and amortization (206,581 ) (198,365 ) Total property, plant, equipment, and mineral properties, net $ 347,670 $ 346,209
Schedule of Depreciation, Depletion and Accretion	We incurred the following expenses for depreciation, depletion, and amortization, including expenses capitalized into inventory, for the following periods (in thousands): Three Months Ended March 31, 2019 2018 Depreciation $ 6,855 $ 6,919 Depletion 1,418 1,596 Amortization of right of use assets 473 — Total incurred $ 8,746 $ 8,515

LEASES (Tables)

LEASES (Tables)	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Leases Recorded on Balance Sheets	Leases recorded on the balance sheet consist of the following (amounts in thousands): Leases Classification on the Balance Sheet Balance as of Assets Operating lease ROU assets, net Property, plant, equipment, and mineral properties, net $ 5,443 Liabilities Current operating lease liabilities Other current liabilities $ 1,851 Non-current operating lease liabilities Operating lease liabilities $ 3,766
Other Information Related to Lease Term and Discount Rate, and Components of Lease Expense	Other information related to lease term and discount rate is as follows: As of March 31, 2019 Weighted average remaining lease term - operating leases (in years) 3.1 Weighted average discount rate - operating leases 5.77 % The components of lease expense are as follows: For the Three Months Ended March 31, 2019 The components of lease expense were as follows: Operating lease expense $ 573 Short-term lease expense 28 Total lease expense $ 601
Maturities of Lease Liabilities	Maturities of lease liabilities are summarized as follows (amounts in thousands): Operating Leases 2019 (excluding the three months ended March 31, 2019) $ 1,635 2020 1,906 2021 1,551 2022 996 2023 73 Thereafter — Total future minimum lease payments $ 6,161 Less - amount representing interest 544 Present value of future minimum lease payments $ 5,617 Less - current lease obligations 1,851 Long-term lease obligations $ 3,766
Maturities of Lease Liabilities Prior to the Adoption of ASC Topic 842	At December 31, 2018 and prior to the adoption of ASC Topic 842, the annual future minimum lease payments were as follows: Years Ending December 31, Operating Leases 2019 $ 2,266 2020 1,874 2021 1,602 2022 1,083 2023 172 Thereafter 1,343 Total $ 8,340

DEBT (Tables)

DEBT (Tables)	3 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
Schedule of Long Term Debt	Our outstanding long-term debt, net, as of March 31, 2019 , and December 31, 2018 , was as follows (in thousands): March 31, 2019 December 31, 2018 Notes $ 50,000 $ 50,000 Less deferred financing costs (330 ) (358 ) Long-term debt, net $ 49,670 $ 49,642
Schedule Of Interest Expense	Amounts included in interest expense, net for the three and nine months ended March 31, 2019 , and 2018, were as follows (in thousands): Three Months Ended March 31, 2019 2018 Interest on Notes and credit facility $ 573 $ 749 Amortization of deferred financing costs 68 183 Gross interest expense 641 932 Less capitalized interest (38 ) (54 ) Interest expense, net $ 603 $ 878

ASSET RETIREMENT OBLIGATION (Ta

ASSET RETIREMENT OBLIGATION (Tables)	3 Months Ended
	Mar. 31, 2019
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, 2019 2018 Asset retirement obligation, at beginning of period $ 23,125 $ 21,476 Accretion of discount 417 417 Total asset retirement obligation, at end of period $ 23,542 $ 21,893

REVENUE (Tables)

REVENUE (Tables)	3 Months Ended
	Mar. 31, 2019
Revenue from Contract with Customer [Abstract]
Contract Balances	The timing of revenue recognition, billings, and cash collection may result in contract assets or contract liabilities. For certain contracts, the customer has agreed to pay us before we have satisfied our performance obligations. Customer payments received before we have satisfied our performance obligations are accounted for as a contract liability. Our contract liability activity for the three months ended March 31, 2019, and 2018 is shown below. Amounts presented are in thousands: Three Months Ended March 31, 2019 2018 Beginning balance $ 11,678 $ — Additions — 3,879 Recognized as revenue during period (3,161 ) (192 ) Ending balance $ 8,517 $ 3,687
Disaggregation of Revenue	The tables below show the disaggregation of revenues by product and reconciles disaggregated revenues to segment revenues for the three months ended March 31, 2019, and 2018. We believe the disaggregation of revenue by products best depicts how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic conditions. Amounts presented are in thousands: For the Three Months Ended March 31, 2019 Product Potash Segment Trio ® Segment Oilfield Solutions Segment Intersegment Eliminations Total Potash $ 28,545 $ — $ 1,822 $ (1,208 ) $ 29,159 Trio ® — 16,550 — — 16,550 Water 340 942 4,104 — 5,386 Salt 3,001 317 — — 3,318 Magnesium Chloride 1,740 — — — 1,740 Brines 704 — — — 704 Other — — 697 — 697 Total Revenue $ 34,330 $ 17,809 $ 6,623 $ (1,208 ) $ 57,554 For the Three Months Ended March 31, 2018 Product Potash Segment Trio ® Segment Oilfield Solutions Segment Intersegment Eliminations Total Potash $ 27,064 $ — $ — $ — $ 27,064 Trio ® — 21,237 — — 21,237 Water 170 505 4,849 — 5,524 Salt 1,733 78 — — 1,811 Magnesium Chloride 1,405 — — — 1,405 Brines 234 — — — 234 Other — — 45 — 45 Total Revenue $ 30,606 $ 21,820 $ 4,894 $ — $ 57,320

COMPENSATION PLANS (Tables)

COMPENSATION PLANS (Tables)	3 Months Ended
	Mar. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Outstanding Share Based Awards	As of March 31, 2019, the following awards were outstanding under the Plan: Outstanding as of March 31, 2019 Restricted Shares 2,261,749 Non-qualified Stock Options 3,231,327

BUSINES SEGMENTS (Tables)

BUSINES SEGMENTS (Tables)	3 Months Ended
	Mar. 31, 2019
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Three Months Ended March 31, 2019 Potash Trio ® Oilfield Solutions Other Consolidated Sales $ 34,330 $ 17,809 $ 6,623 $ (1,208 ) $ 57,554 Less: Freight costs 4,640 5,035 781 — 10,456 Warehousing and handling 1,267 969 — — 2,236 Cost of goods sold 19,059 11,074 2,769 (1,208 ) 31,694 Gross Margin $ 9,364 $ 731 $ 3,073 $ — $ 13,168 Depreciation, depletion, and amortization incurred 1 $ 6,795 $ 1,558 $ 190 $ 203 $ 8,746 Three Months Ended March 31, 2018 Potash Trio ® Oilfield Solutions Other Consolidated Sales $ 30,606 $ 21,820 $ 4,894 $ — $ 57,320 Less: Freight costs 4,206 6,277 — — 10,483 Warehousing and handling 1,155 1,118 — — 2,273 Cost of goods sold 20,269 15,798 592 — 36,659 Lower of cost or net — 705 — — 705 Gross Margin (Deficit) $ 4,976 $ (2,078 ) $ 4,302 $ — $ 7,200 Depreciation, depletion, and amortization incurred 1 $ 6,778 $ 1,633 $ 64 $ 40 $ 8,515 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)	3 Months Ended
	Mar. 31, 2019segmentFacility	May 01, 2019
Number of mining facilities | Facility	3
Number of reportable segments | segment	3
Subsequent Event [Member] | Dinwiddie Jal Ranch [Member]
Acquisition percentage		100.00%

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Jan. 01, 2019
Accounting Policies [Abstract]
Operating Lease right-of-use	$ 5,443
Operating Lease, Liability	$ 5,617	$ 6,100

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, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Earnings Per Share [Abstract]
Net Income	$ 6,155	$ 1,757
Basic weighted average common shares outstanding (in shares)	128,730	127,661
Add: Dilutive effect of restricted stock (in shares)	2,033	2,184
Add: Dilutive effect of stock options (in shares)	117	920
Diluted weighted average common shares outstanding (in shares)	130,880	130,765
Income (Loss) per share:
Basic (in dollars per share)	$ 0.05	$ 0.01
Diluted (in dollars per share)	$ 0.05	$ 0.01

EARNINGS PER SHARE (Schedule _2

EARNINGS PER SHARE (Schedule of Anti-Dilutive Shares) (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Restricted Shares [Member]
Anti-dilutive weighted average non-vested shares
Anti-dilutive shares (in shares)	79	0
Stock Options [Member]
Anti-dilutive weighted average non-vested shares
Anti-dilutive shares (in shares)	1,701	545

CASH, CASH EQUIVALENTS AND RE_3

CASH, CASH EQUIVALENTS AND RESTRICTED CASH (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2017
Cash and Cash Equivalents [Abstract]
Cash and cash equivalents	$ 34,032	$ 33,222	$ 6,085
Restricted cash included in other long-term assets	482		481
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows	$ 34,514	$ 33,704	$ 6,566	$ 1,549

INVENTORY AND LONG-TERM PARTS_3

INVENTORY AND LONG-TERM PARTS INVENTORY (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Inventory Disclosure [Abstract]
Inventory valuation reserves			$ (1,700)
Lower of cost or net realizable value inventory adjustments	$ 0	$ 705

INVENTORY AND LONG-TERM PARTS_4

INVENTORY AND LONG-TERM PARTS INVENTORY (Summary of Inventory) (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Inventory [Line Items]
Finished goods product inventory	$ 56,695	$ 48,370
In-process mineral inventory	19,729	24,325
Total product inventory	76,424	72,695
Current parts inventory	9,846	9,351
Total current inventory, net	86,270	82,046
Long-term parts inventory, net	29,895	30,031
Total inventory, net	$ 116,165	$ 112,077

PROPERTY, PLANT, EQUIPMENT, A_3

PROPERTY, PLANT, EQUIPMENT, AND MINERAL PROPERTIES (Schedule of Property, Plant, Equipment, and Mineral Properties) (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Jan. 01, 2019	Dec. 31, 2018
Property, plant, equipment, and mineral properties
Total property, plant, equipment, and mineral properties, gross	$ 554,251		$ 544,574
Less: accumulated depreciation, depletion, and amortization	(206,581)		(198,365)
Total property, plant, equipment and mineral properties, net	347,670		346,209
Land [Member]
Property, plant, equipment, and mineral properties
Total property, plant, equipment, and mineral properties, gross	519		519
Ponds and Land Improvements [Member]
Property, plant, equipment, and mineral properties
Total property, plant, equipment, and mineral properties, gross	59,007		58,961
Mineral Properties And Development Costs [Member]
Property, plant, equipment, and mineral properties
Total property, plant, equipment, and mineral properties, gross	139,443		139,418
Buildings and Plant [Member]
Property, plant, equipment, and mineral properties
Total property, plant, equipment, and mineral properties, gross	81,483		81,429
Machinery and Equipment [Member]
Property, plant, equipment, and mineral properties
Total property, plant, equipment, and mineral properties, gross	243,941		241,977
Vehicles [Member]
Property, plant, equipment, and mineral properties
Total property, plant, equipment, and mineral properties, gross	5,807		5,669
Office Equipment and Improvements [Member]
Property, plant, equipment, and mineral properties
Total property, plant, equipment, and mineral properties, gross	13,945		13,779
Operating Lease ROU Assets [Member]
Property, plant, equipment, and mineral properties
Total property, plant, equipment, and mineral properties, gross		$ 5,916	0
Construction in Progress [Member]
Property, plant, equipment, and mineral properties
Total property, plant, equipment, and mineral properties, gross	$ 4,190		$ 2,822

PROPERTY, PLANT, EQUIPMENT, A_4

PROPERTY, PLANT, EQUIPMENT, AND MINERAL PROPERTIES (Schedule of Depreciation, Depletion, and Accretion) (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2019	Mar. 31, 2018
Property, Plant and Equipment [Abstract]
Depreciation		$ 6,855	$ 6,919
Depletion		1,418	1,596
Amortization of right of use assets		473	0
Total incurred	[1]	$ 8,746	$ 8,515
[1]	Depreciation, depletion, and amortization incurred for potash and Trio® excludes depreciation, depletion and amortization amounts absorbed in or relieved from inventory.

LEASES (Leases Recorded on Bala

LEASES (Leases Recorded on Balance Sheets) (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Leases [Abstract]
Operating lease ROU assets	$ 5,443
Current operating lease liabilities	1,851
Non-current operating lease liabilities	$ 3,766	$ 0

LEASES (Other Information Relat

LEASES (Other Information Related to Lease Term and Discount Rate) (Details)	Mar. 31, 2019
Leases [Abstract]
Operating lease, weighted average remaining lease term (in years)	3 years 1 month 6 days
Operating lease, weighted average discount rate, percent	5.77%

LEASES (Components of Lease Exp

LEASES (Components of Lease Expense) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
Leases [Abstract]
Operating lease expense	$ 573
Short-term lease expense	28
Total lease expense	601
Rental and lease expense	$ 1,000

LEASES (Maturities of Lease Lia

LEASES (Maturities of Lease Liabilities) (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Jan. 01, 2019	Dec. 31, 2018
Leases [Abstract]
2019 (excluding the three months ended March 31, 2019	$ 1,635
2020	1,906
2021	1,551
2022	996
2023	73
Thereafter	0
Total future minimum lease payments	6,161
Less - amount representing interest	544
Present value of future minimum lease payments	5,617	$ 6,100
Less - current lease obligations	1,851
Long-term lease obligations	$ 3,766		$ 0
Prior to the adoption of ASC Topic 842 [Abstract]
2019			2,266
2020			1,874
2021			1,602
2022			1,083
2023			172
Thereafter			1,343
Total			$ 8,340

DEBT (Narrative) (Details)

DEBT (Narrative) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)	Mar. 31, 2018USD ($)	Dec. 31, 2018USD ($)
Debt
Interest expense	$ 641	$ 932
Proceeds from credit facility	0	13,500
Repayments of credit facility	0	15,900
Senior Notes [Member]
Debt
Long-term debt	$ 50,000		$ 50,000
Minimum fixed charge coverage ratio for the four quarters ending March 31, 2019	0.75
Fixed charge coverage ratio	14.2
Minimum fixed charge coverage ratio for the four quarters ending June 30, 2019	1
Minimum fixed charge coverage ratio for each four quarter period ending on or after September 30, 2019	1.3
Maximum leverage ratio	5.5
Leverage Ratio	0.9
Maximum leverage ratio for quarter ending June 30, 2019	4.5
Maximum leverage ratio for each quarter ending on or after September 30, 2019	3.5
Bank Of Montreal [Member]
Debt
Credit facility, maximum borrowing capacity	$ 50,000
Proceeds from credit facility	0	13,500
Repayments of credit facility		$ 15,900
Letters of credit outstanding, amount	1,000
Line of credit facility, current borrowing capacity	$ 49,000
Maximum [Member] | London Interbank Offered Rate (LIBOR) [Member] | Bank Of Montreal [Member]
Debt
Credit facility interest	2.00%
Minimum [Member] | London Interbank Offered Rate (LIBOR) [Member] | Bank Of Montreal [Member]
Debt
Credit facility interest	1.50%
Series A Senior Notes [Member] | Senior Notes [Member]
Debt
Long-term debt	$ 20,000
Interest Rate	3.73%
Series B Senior Notes [Member] | Senior Notes [Member]
Debt
Long-term debt	$ 15,000
Interest Rate	4.63%
Series C Senior Notes [Member] | Senior Notes [Member]
Debt
Long-term debt	$ 15,000
Interest Rate	4.78%

DEBT SCHEDULE OF LONG TERM DEBT

DEBT SCHEDULE OF LONG TERM DEBT (Details) - Senior Notes [Member] - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Debt
Senior Notes	$ 50,000	$ 50,000
Less deferred financing costs	(330)	(358)
Long-term debt, net	$ 49,670	$ 49,642

DEBT SCHEDULE OF INTEREST EXPEN

DEBT SCHEDULE OF INTEREST EXPENSE (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Debt Disclosure [Abstract]
Interest on notes and credit facility	$ 573	$ 749
Amortization of deferred financing costs	68	183
Gross interest expense	641	932
Less capitalized interest	(38)	(54)
Interest expense, net	$ 603	$ 878

FINANCIAL INFORMATION FOR SUB_2

FINANCIAL INFORMATION FOR SUBSIDIARY GUARANTORS OF POSSIBLE FUTURE PUBLIC DEBT (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Guarantees [Abstract]
Cash	$ 34	$ 33.2

ASSET RETIREMENT OBLIGATION (Na

ASSET RETIREMENT OBLIGATION (Narrative) (Details) $ in Millions	Mar. 31, 2019USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Asset retirement obligation, undiscounted amount	$ 59.5
Measurement Input, Risk Free Interest Rate [Member] | Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit Adjusted Risk-Free Rates to Discount Abandonment Liabilities	0.069
Measurement Input, Risk Free Interest Rate [Member] | Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit Adjusted Risk-Free Rates to Discount Abandonment Liabilities	0.097
Other Current Liabilities [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Current portion of asset retirement obligation	$ 0.1

ASSET RETIREMENT OBLIGATION (Sc

ASSET RETIREMENT OBLIGATION (Schedule of Changes to Asset Retirement Obligation) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Asset Retirement Obligation Disclosure [Abstract]
Asset retirement obligation, at beginning of period	$ 23,125	$ 21,476
Accretion of discount	417	417
Total asset retirement obligation, at end of period	$ 23,542	$ 21,893

REVENUE (Contract Balances) (De

REVENUE (Contract Balances) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Revenue from Contract with Customer [Abstract]
Beginning balance	$ 11,678	$ 0
Additions	0	3,879
Recognized as revenue during period	(3,161)	(192)
Ending balance	$ 8,517	$ 3,687

REVENUE (Disaggregation of Reve

REVENUE (Disaggregation of Revenue) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Potash [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	$ 29,159	$ 27,064
Trio [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	16,550	21,237
Water Product [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	5,386	5,524
Salt [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	3,318	1,811
Magnesium Chloride [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	1,740	1,405
Brines [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	704	234
Other [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	697	45
Mineral [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	57,554	57,320
Potash [Member] | Potash [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	28,545	27,064
Potash [Member] | Trio [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	0	0
Potash [Member] | Water Product [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	340	170
Potash [Member] | Salt [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	3,001	1,733
Potash [Member] | Magnesium Chloride [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	1,740	1,405
Potash [Member] | Brines [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	704	234
Potash [Member] | Other [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	0	0
Potash [Member] | Mineral [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	34,330	30,606
Trio [Member] | Potash [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	0	0
Trio [Member] | Trio [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	16,550	21,237
Trio [Member] | Water Product [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	942	505
Trio [Member] | Salt [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	317	78
Trio [Member] | Magnesium Chloride [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	0	0
Trio [Member] | Brines [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	0	0
Trio [Member] | Other [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	0	0
Trio [Member] | Mineral [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	17,809	21,820
Oil Field Solutions [Member] | Potash [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	1,822	0
Oil Field Solutions [Member] | Trio [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	0	0
Oil Field Solutions [Member] | Water Product [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	4,104	4,849
Oil Field Solutions [Member] | Salt [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	0	0
Oil Field Solutions [Member] | Magnesium Chloride [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	0	0
Oil Field Solutions [Member] | Brines [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	0	0
Oil Field Solutions [Member] | Other [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	697	45
Oil Field Solutions [Member] | Mineral [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	6,623	4,894
Intersegment Eliminations [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	(1,208)	0
Intersegment Eliminations [Member] | Potash [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	(1,208)	0
Intersegment Eliminations [Member] | Trio [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	0	0
Intersegment Eliminations [Member] | Water Product [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	0	0
Intersegment Eliminations [Member] | Salt [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	0	0
Intersegment Eliminations [Member] | Magnesium Chloride [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	0	0
Intersegment Eliminations [Member] | Brines [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	0	0
Intersegment Eliminations [Member] | Other [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	$ 0	$ 0

COMPENSATION PLANS (Narrative)

COMPENSATION PLANS (Narrative) (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Equity Incentive Compensation Plan [Abstract]
Shares available for issuance	2.7
Non Qualified Stock Options [Abstract]
Compensation expense	$ 1	$ 0.9
Unrecognized compensation expense	$ 5.5
Minimum [Member]
Non Qualified Stock Options [Abstract]
Period over which grants vest (in years)	1 year
Maximum [Member]
Non Qualified Stock Options [Abstract]
Period over which grants vest (in years)	2 years
Restricted Shares [Member]
Restricted Stock [Abstract]
Shares granted	0.4

COMPENSATION PLANS (Schedule of

COMPENSATION PLANS (Schedule of Outstanding Share Based Awards) (Details)	Mar. 31, 2019shares
Restricted Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards outstanding, restricted stock	2,261,749
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards outstanding, options	3,231,327

INCOME TAXES (Narrative) (Detai

INCOME TAXES (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Effective Tax Rate	0.00%	0.00%
Income Tax Expense	$ 0	$ 0

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Narrative) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2019USD ($)
Commitments and Contingencies Disclosure [Abstract]
Security placed with the State of Utah and BLM	$ 19.1
Long-term restricted cash deposits	0.5
Surety bonds issued by an insurer	18.6
Future Operating Lease Commitments
Rental and lease expense	1
Maximum [Member]
Loss Contingencies [Line Items]
Estimated contingency	28
Minimum [Member]
Loss Contingencies [Line Items]
Estimated contingency	$ 22

FAIR VALUE (Details)

FAIR VALUE (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Fair Value Disclosures [Abstract]
Senior Notes, Fair Value	$ 49	$ 48.1

BUSINESS SEGMENTS (Narrative) (

BUSINESS SEGMENTS (Narrative) (Details)	3 Months Ended
	Mar. 31, 2019segment
Segment Reporting [Abstract]
Number of reportable segments	3

BUSINESS SEGMENT (Information b

BUSINESS SEGMENT (Information by Segment) (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2019	Mar. 31, 2018
Segment Reporting Information [Line Items]
Lower of cost or net realizable value inventory adjustments		$ 0	$ 705
Gross Margin (Deficit)		13,168	7,200
Depreciation, depletion and amortization expense	[1]	8,746	8,515
Operating Segments [Member] | Potash [Member]
Segment Reporting Information [Line Items]
Lower of cost or net realizable value inventory adjustments			0
Gross Margin (Deficit)		9,364	4,976
Depreciation, depletion and amortization expense	[1]	6,795	6,778
Operating Segments [Member] | Trio [Member]
Segment Reporting Information [Line Items]
Lower of cost or net realizable value inventory adjustments			705
Gross Margin (Deficit)		731	(2,078)
Depreciation, depletion and amortization expense	[1]	1,558	1,633
Operating Segments [Member] | Oil Field Solutions [Member]
Segment Reporting Information [Line Items]
Lower of cost or net realizable value inventory adjustments			0
Gross Margin (Deficit)		3,073	4,302
Depreciation, depletion and amortization expense	[1]	190	64
Corporate/Other [Member]
Segment Reporting Information [Line Items]
Gross Margin (Deficit)		0	0
Depreciation, depletion and amortization expense	[1]	203	40
Freight Costs [Member]
Segment Reporting Information [Line Items]
Cost of Goods Sold		10,456	10,483
Freight Costs [Member] | Operating Segments [Member] | Potash [Member]
Segment Reporting Information [Line Items]
Cost of Goods Sold		4,640	4,206
Freight Costs [Member] | Operating Segments [Member] | Trio [Member]
Segment Reporting Information [Line Items]
Cost of Goods Sold		5,035	6,277
Freight Costs [Member] | Operating Segments [Member] | Oil Field Solutions [Member]
Segment Reporting Information [Line Items]
Cost of Goods Sold		781	0
Warehouse and Handling [Member]
Segment Reporting Information [Line Items]
Cost of Goods Sold		2,236	2,273
Warehouse and Handling [Member] | Operating Segments [Member] | Potash [Member]
Segment Reporting Information [Line Items]
Cost of Goods Sold		1,267	1,155
Warehouse and Handling [Member] | Operating Segments [Member] | Trio [Member]
Segment Reporting Information [Line Items]
Cost of Goods Sold		969	1,118
Warehouse and Handling [Member] | Operating Segments [Member] | Oil Field Solutions [Member]
Segment Reporting Information [Line Items]
Cost of Goods Sold		0	0
Warehouse and Handling [Member] | Corporate/Other [Member]
Segment Reporting Information [Line Items]
Cost of Goods Sold		0	0
Mineral [Member]
Segment Reporting Information [Line Items]
Sales		57,554	57,320
Cost of Goods Sold		31,694	36,659
Mineral [Member] | Potash [Member]
Segment Reporting Information [Line Items]
Sales		34,330	30,606
Mineral [Member] | Trio [Member]
Segment Reporting Information [Line Items]
Sales		17,809	21,820
Mineral [Member] | Oil Field Solutions [Member]
Segment Reporting Information [Line Items]
Sales		6,623	4,894
Mineral [Member] | Operating Segments [Member] | Potash [Member]
Segment Reporting Information [Line Items]
Sales		34,330	30,606
Cost of Goods Sold		19,059	20,269
Mineral [Member] | Operating Segments [Member] | Trio [Member]
Segment Reporting Information [Line Items]
Sales		17,809	21,820
Cost of Goods Sold		11,074	15,798
Mineral [Member] | Operating Segments [Member] | Oil Field Solutions [Member]
Segment Reporting Information [Line Items]
Sales		6,623	4,894
Cost of Goods Sold		2,769	592
Mineral [Member] | Corporate/Other [Member]
Segment Reporting Information [Line Items]
Sales		(1,208)	0
Cost of Goods Sold		$ (1,208)	$ 0
[1]	Depreciation, depletion, and amortization incurred for potash and Trio® excludes depreciation, depletion and amortization amounts absorbed in or relieved from inventory.

SUBSEQUENT EVENT (Details)

SUBSEQUENT EVENT (Details) - Dinwiddie Jal Ranch [Member] $ in Thousands	May 01, 2019USD ($)	Feb. 28, 2019USD ($)
Subsequent Event [Line Items]
Deposit paid		$ 3,250
Subsequent Event [Member]
Subsequent Event [Line Items]
Acquisition percentage	100.00%
Aggregate purchase consideration paid	$ 53,000
Additional purchase consideration pending resolution of certain issuess	$ 12,000
Royalty term	20 years
Royalty term percentage	0.1