Intrepid Potash (IPI) 10-Q 3 Nov 20 2020 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2020	Oct. 27, 2020
Document and Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2020
Document Transition Report	false
Entity File Number	001-34025
Entity Registrant Name	INTREPID POTASH, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	26-1501877
Entity Address, Address Line One	1001 17th Street, Suite 1050
Entity Address, City or Town	Denver,
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80202
City Area Code	303
Local Phone Number	296-3006
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	IPI
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		13,294,158
Entity Central Index Key	0001421461
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
ASSETS
Cash and cash equivalents	$ 9,258	$ 20,603
Accounts receivable:
Trade, net	23,271	23,749
Other receivables, net	2,575	1,247
Inventory, net	85,204	94,220
Prepaid expenses and other current assets	5,844	5,524
Total current assets	126,152	145,343
Property, plant and equipment, and mineral properties, net	362,117	378,509
Water rights	19,184	19,184
Long-term parts inventory, net	28,978	27,569
Other assets, net	10,960	7,834
Total Assets	547,391	578,439
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable	8,037	9,992
Income taxes payable	0	50
Accrued liabilities	12,817	13,740
Accrued employee compensation and benefits	5,806	4,464
Advances of credit facility	0	19,817
Current portion of long-term debt, net	10,000	20,000
Other current liabilities	27,779	19,382
Total current liabilities	64,439	87,445
Advances on credit facility	29,817	0
Long-term debt, net	14,918	29,753
Asset retirement obligation	23,437	22,140
Operating lease liabilities	2,660	4,025
Other non-current liabilities	1,024	420
Total Liabilities	136,295	143,783
Commitments and Contingencies
Common stock, $0.001 par value; 400,000,000 shares authorized; 13,006,373 and 12,955,351 shares outstanding at September 30, 2020 and December 31, 2019, respectively	13	13
Additional paid-in capital	655,964	653,080
Retained deficit	(244,881)	(218,437)
Total Stockholders' Equity	411,096	434,656
Total Liabilities and Stockholders' Equity	$ 547,391	$ 578,439

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	40,000,000	40,000,000
Common stock, shares outstanding	13,006,427	12,955,351

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Less:
Lower of cost or net realizable value inventory adjustments	$ 1,224	$ 1,462	$ 4,015	$ 1,462
Gross (Deficit) Margin	(308)	6,949	4,716	33,288
Selling and administrative	6,750	5,548	20,022	17,710
Accretion of asset retirement obligation	434	513	1,303	1,347
Litigation settlement	0	0	10,075	0
Loss (gain) on sale of asset	21	(56)	(4,441)	(17)
Other operating expense	237	329	495	792
Operating (Loss) Income	(7,750)	615	(22,738)	13,456
Other Income (Expense)
Interest Expense, net	(2,450)	(849)	(3,877)	(2,258)
Interest income	0	0	116	0
Other (expense) income	25	9	13	343
(Loss) Income Before Income Taxes	(10,175)	(225)	(26,486)	11,541
Income Tax Benefit	0	8	42	8
Net (Loss) Income	$ (10,175)	$ (217)	$ (26,444)	$ 11,549
Weighted Average Shares Outstanding:
Basic (in shares)	13,006	12,917	12,981	12,893
Diluted (in shares)	13,006	12,917	12,981	13,106
Earnings Per Share:
Basic (in dollars per share)	$ (0.78)	$ (0.02)	$ (2.04)	$ 0.90
Diluted (in dollars per share)	$ (0.78)	$ (0.02)	$ (2.04)	$ 0.88
Freight Costs [Member]
Less:
Cost of Goods Sold	$ 7,802	$ 8,724	$ 28,397	$ 30,473
Warehouse and Handling [Member]
Less:
Cost of Goods Sold	2,315	2,162	7,284	6,628
Mineral [Member]
Sales	38,078	51,160	148,512	171,226
Less:
Cost of Goods Sold	$ 27,045	$ 31,863	$ 104,100	$ 99,375

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]
Balance (in shares) at Dec. 31, 2018		12,871,659
Balance at Dec. 31, 2018	$ 417,263	$ 13	$ 649,318	$ (232,068)
Net income (loss)	11,549			11,549
Stock-based compensation	3,237		3,237
Vesting of restricted common stock, net of restricted common stock used to fund employee income tax withholding due upon vesting (in shares)		44,450
Vesting of restricted common stock, net of restricted common stock used to fund employee income tax withholding due upon vesting	(269)		(269)
Exercise of stock options (in shares)		919
Exercise of stock options	0		0
Balance (in shares) at Sep. 30, 2019		12,917,028
Balance at Sep. 30, 2019	431,780	$ 13	652,286	(220,519)
Balance (in shares) at Jun. 30, 2019		12,917,028
Balance at Jun. 30, 2019	431,022	$ 13	651,311	(220,302)
Net income (loss)	(217)			(217)
Stock-based compensation	975		975
Balance (in shares) at Sep. 30, 2019		12,917,028
Balance at Sep. 30, 2019	431,780	$ 13	652,286	(220,519)
Balance (in shares) at Dec. 31, 2019		12,955,351
Balance at Dec. 31, 2019	434,656	$ 13	653,080	(218,437)
Net income (loss)	(26,444)			(26,444)
Stock-based compensation	2,981		2,981
Vesting of restricted common stock, net of restricted common stock used to fund employee income tax withholding due upon vesting (in shares)		51,076
Vesting of restricted common stock, net of restricted common stock used to fund employee income tax withholding due upon vesting	(97)		(97)
Balance (in shares) at Sep. 30, 2020		13,006,427
Balance at Sep. 30, 2020	411,096	$ 13	655,964	(244,881)
Balance (in shares) at Jun. 30, 2020		13,006,124
Balance at Jun. 30, 2020	420,208	$ 13	654,901	(234,706)
Net income (loss)	(10,175)			(10,175)
Stock-based compensation	985		985
Vesting of restricted common stock, net of restricted common stock used to fund employee income tax withholding due upon vesting (in shares)		303
Vesting of restricted common stock, net of common stock used to fund employee income tax withholding due upon vesting	78		78
Balance (in shares) at Sep. 30, 2020		13,006,427
Balance at Sep. 30, 2020	$ 411,096	$ 13	$ 655,964	$ (244,881)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash Flows from Operating Activities:
Net (loss) Income	$ (26,444)	$ 11,549
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation, depletion, and amortization	26,377	25,145
Accretion of asset retirement obligation	1,303	1,347
Amortization of deferred financing costs	357	217
Amortization of Intangible Assets	241	188
Stock-based compensation	2,981	3,237
Lower of cost or net realizable value inventory adjustments	4,015	1,462
Gain on disposal of assets	(4,441)	(17)
Allowance for doubtful accounts	275	50
Allowance for parts inventory obsolescence	492	4
Other	(116)	0
Changes in operating assets and liabilities:
Trade accounts receivable, net	203	(6,026)
Other receivables, net	(1,328)	(1,379)
Inventory, net	3,100	(3,227)
Prepaid expenses and other current assets	(313)	(787)
Accounts payable, accrued liabilities, and accrued employee compensation and benefits	4,071	5,821
Income taxes payable	(50)	(914)
Operating lease liabilities	(1,695)	(1,474)
Other liabilities	9,459	2,421
Net cash provided by operating activities	18,487	37,617
Cash Flows from Investing Activities:
Additions to property, plant, equipment, mineral properties, and other assets	(14,087)	(59,948)
Additions to intangible assets	0	(16,873)
Long-term investment	(3,500)	0
Proceeds from sale of assets	4,786	68
Net cash used in investing activities	(12,801)	(76,753)
Cash Flows from Financing Activities:
Debt prepayment costs	(1,869)	0
Repayments of long-term debt	(35,000)	0
Proceeds from short-term borrowings on credit facility	(10,000)	(30,317)
Repayments of short-term borrowings on credit facility	0	(10,500)
Capitalized debt fees	(36)	(457)
Employee tax withholding paid for restricted stock upon vesting	(96)	(278)
Proceeds from loan under CARES Act	10,000	0
Proceeds from exercise of stock options	0	9
Net cash (used in) provided by financing activities	(17,001)	19,091
Net Change in Cash, Cash Equivalents and Restricted Cash	(11,315)	(20,045)
Cash, Cash Equivalents, and Restricted Cash, beginning of period	21,239	33,704
Cash, Cash Equivalents, and Restricted Cash, end of period	9,924	13,659
Net cash paid during the period for:
Interest	1,974	1,458
Income taxes	92	968
Amounts included in the measurement of operating lease liabilities	1,878	1,723
Accrued purchases for property, plant, equipment, and mineral properties	1,050	1,749
Right-of-use assets exchanged for operating lease liabilities	$ 216	$ 6,558

COMPANY BACKGROUND

COMPANY BACKGROUND	9 Months Ended
	Sep. 30, 2020
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. In May 2019, we acquired certain land, water rights, state grazing leases for cattle, and other related assets from Dinwiddie Cattle Company. We refer to these assets and operations as "Intrepid South." Due to the strategic location of Intrepid South, part of our long-term operating strategy is selling small parcels of land to other companies, where such sales provide a solution to a company's need. 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	9 Months Ended
	Sep. 30, 2020
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. 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, 2019. We have updated our accounting policies for estimating credit losses as a result of adopting Accounting Standards Update ("ASU") No. 2016-13, Financial Instruments - (Topic 326): Measurement of Credit Losses on Financial Instruments , as discussed in more detail below. We have made no other changes to our significant accounting policies described in our Annual Report on Form 10-K for the year ended December 31, 2019. Reverse Stock Split —On August 10, 2020, after receipt of stockholder approval, the Board of Directors approved an amendment to our Certificate of Incorporation to effect a reverse stock split of our common stock, par value $0.001 per share, by a ratio of one-for-ten. The reverse stock split became effective August 14, 2020. Additionally, the total number of authorized shares of our common stock was reduced to 40,000,000 shares. Unless otherwise indicated, all share amounts, per share data, share prices, exercise prices and conversion rates set forth in these notes and the accompanying condensed consolidated financial statements have, where applicable, been adjusted retroactively to reflect this reverse stock split. Recently Adopted Accounting Standards In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - (Topic 326): Measurement of Credit Losses on Financial Instruments , which we adopted on January 1, 2020. ASU No. 2016-13 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 and required a cumulative-effect adjustment to the statement of financial position on January 1, 2020. The effect of the adoption of this standard was immaterial on our condensed consolidated financial statements. Reclassifications of Prior Period Presentation

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
	Sep. 30, 2020
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 September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Net (loss) income $ (10,175) $ (217) $ (26,444) $ 11,549 Basic weighted-average common shares outstanding 13,006 12,917 12,981 12,893 Add: Dilutive effect of restricted stock — — — 130 Add: Dilutive effect of stock options — — — 83 Add: Dilutive effect of performance units — — — — Diluted weighted-average common shares outstanding 13,006 12,917 12,981 13,106 Basic $ (0.78) $ (0.02) $ (2.04) $ 0.90 Diluted $ (0.78) $ (0.02) $ (2.04) $ 0.88 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 September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Anti-dilutive effect of restricted stock 289 225 233 41 Anti-dilutive effect of stock options outstanding 310 322 311 166

CASH, CASH EQUIVALENTS AND REST

CASH, CASH EQUIVALENTS AND RESTRICTED CASH	9 Months Ended
	Sep. 30, 2020
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 September 30, 2020, and 2019 (in thousands): September 30, 2020 September 30, 2019 Cash and cash equivalents $ 9,258 $ 13,023 Restricted cash included in other current assets 150 150 Restricted cash included in other long-term assets 516 486 Total cash, cash equivalents, and restricted cash as shown in the statement of cash flows $ 9,924 $ 13,659 Restricted cash included in other current and long-term assets on the condensed consolidated balance sheets represents amounts whose use is restricted by contractual agreements with various entities, principally the Bureau of Land Management or the State of Utah, as security to fund future reclamation obligations at our sites.

INVENTORY AND LONG-TERM PARTS I

INVENTORY AND LONG-TERM PARTS INVENTORY	9 Months Ended
	Sep. 30, 2020
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 September 30, 2020, and December 31, 2019 (in thousands): September 30, 2020 December 31, 2019 Finished goods product inventory $ 39,571 $ 55,585 In-process inventory 34,739 25,591 Total product inventory 74,310 81,176 Current parts inventory, net 10,894 13,044 Total current inventory, net 85,204 94,220 Long-term parts inventory, net 28,978 27,569 Total inventory, net $ 114,182 $ 121,789 Parts inventory is shown net of estimated allowances for obsolescence of $1.1 million and $0.6 million as of September 30, 2020, and December 31, 2019, 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, we recorded inventory charges of $1.2 million and $4.0 million for the three and nine months ended September 30, 2020, respectively. For the three and nine months ended September 30, 2019, we recorded $1.5 million of such inventory charges.

PROPERTY, PLANT, EQUIPMENT, AND

PROPERTY, PLANT, EQUIPMENT, AND MINERAL PROPERTIES	6 Months Ended
	Jun. 30, 2020
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): September 30, 2020 December 31, 2019 Land $ 27,263 $ 27,274 Ponds and land improvements 66,742 65,992 Mineral properties and development costs 143,955 143,988 Buildings and plant 81,702 81,468 Machinery and equipment 264,596 253,536 Vehicles 5,958 6,222 Office equipment and improvements 9,733 9,136 Operating lease ROU assets 8,289 8,123 Breeding stock 260 — Construction in progress 2,815 7,124 Total property, plant, equipment, and mineral properties, gross $ 611,313 $ 602,863 Less: accumulated depreciation, depletion, and amortization (249,196) (224,354) Total property, plant, equipment, and mineral properties, net $ 362,117 $ 378,509 In March 2020, we sold approximately 320 acres of land for $4.8 million. In connection with that sale, we recorded a gain of $4.7 million. We incurred the following expenses for depreciation, depletion, and amortization, including expenses capitalized into inventory, for the following periods (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Depreciation $ 7,511 $ 7,128 $ 22,164 $ 20,881 Depletion 710 705 2,599 2,812 Amortization of right of use assets 527 493 1,614 1,452 Total incurred $ 8,748 $ 8,326 $ 26,377 $ 25,145

DEBT

DEBT	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
DEBT	DEBT Senior Notes —As of September 30, 2020, we had outstanding $15 million of Series B Senior Notes, due on April 14, 2023. In April 2020, we repaid our Series A Senior Notes ($20 million) at maturity. In July 2020, we repaid our Series C Senior Notes. As part of the repayment, we repaid the full $15 million of principal along with a reduced make-whole payment of $1.9 million. The agreement governing the Series B Senior Notes contains certain financial covenants, including the following: • We are required to maintain a minimum fixed charge coverage ratio of 1.3 to 1.0 as of the last day of each quarter, measured based on the previous four quarters. Our fixed charge coverage ratio as of September 30, 2020, was 3.0 to 1.0. • We are allowed a maximum leverage ratio of 3.5 to 1.0 as of the last day of each quarter, measured based on the previous four quarters. Our leverage ratio as of September 30, 2020, was 2.1 to 1.0. Fixed charge coverage ratio and leverage ratio are calculated in accordance with the agreement governing the Senior B Notes, each of which includes earnings before interest, taxes, depreciation and amortization ("EBITDA") as a component. Our EBITDA calculation for the nine months ended September 30, 2020 has decreased from historical levels due to the economic contraction related to the COVID-19 pandemic. If we continue to experience decreased EBITDA amounts in future quarters, we may violate our debt covenants and may need to work with our lenders to address the non-compliance. EBITDA in all periods excludes deferred revenue as we have not satisfied the performance obligation to recognize the deferred revenue as revenue, as discussed in Note 11 - Revenue. As of September 30, 2020, we were in compliance with all applicable covenants under the Series B Senior Notes. For both the nine months ended September 30, 2020, and the nine months ended September 30, 2019, the interest rates on the Senior 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 Senior 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 Series B Senior Notes 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 Series B Senior Notes with the proceeds of dispositions of certain specified property and with the proceeds of certain equity issuances, as set forth in the agreement governing the Series B Senior Notes. The obligations under the Senior Notes are unconditionally guaranteed by several of our subsidiaries. In April 2020, we amended the agreement governing the Series B Senior Notes to allow for a $10 million loan under the Paycheck Protection Program under the Coronavirus Aid, Relief, and Economic Security Act (the "CARES Act"), as described further below. Our outstanding long-term debt, net, as of September 30, 2020, and December 31, 2019, was as follows (in thousands): September 30, 2020 December 31, 2019 Notes and Payroll Protection Loan $ 25,000 $ 50,000 Less current portion of long-term debt (10,000) (20,000) Less deferred financing costs (82) (247) Long-term debt, net $ 14,918 $ 29,753 Credit Facility —We maintain a revolving credit facility with Bank of Montreal. As of September 30, 2020, borrowings under the credit facility bear interest at LIBOR (London Interbank Offered Rate) plus an applicable margin of 1.25% to 2.00% per annum, based on our leverage ratio as calculated in accordance with the agreement governing 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 nine months ended September 30, 2020, we borrowed $10 million under the facility. As of September 30, 2020, we had $29.8 million of borrowings outstanding and $1 million in outstanding letters of credit under the facility. Including the outstanding letters of credit, we had $30.0 million available to be borrowed under the facility as of September 30, 2020. Our EBITDA calculation for the nine months ended September 30, 2020 has decreased from historical levels due to the economic contraction related to the COVID-19 pandemic. If we continue to experience decreased EBITDA amounts in future quarters, we may violate our debt covenants and may need to work with our lenders to address the non-compliance. EBITDA in all periods excludes deferred revenue as we have not satisfied the performance obligation to recognize the deferred revenue as revenue, as discussed in Note 11 - Revenue. As of September 30, 2020, we were in compliance with all applicable covenants under the revolving credit facility. During the nine months ended September 30, 2019, we had $30.3 million borrowings under the facility and made $10.5 million in repayments. In August 2019, we amended the credit facility to change it from an asset-backed facility to a cash-flow facility, to increase the amount available under the facility from $50 million to $75 million plus an additional $75 million accordion, and to extend the maturity date to August 1, 2024. In April 2020, we amended the credit facility to allow for a $10 million loan under the CARES Act, described below. PPP Loan —In April 2020, we received a $10 million loan under the Paycheck Protection Program (the "PPP") under the CARES Act. The loan matures in April 2022 and bears interest at a rate of 1% per annum. We were required to begin monthly payments of principal and interest in the amount of $0.6 million in November 2020, but due to extensions of the program and delays in the forgiveness application process, we do not expect to make any payments on the loan until a decision is made on our forgiveness application. We may prepay the loan at any time prior to maturity with no prepayment penalties. We used the funds exclusively for allowed payroll and benefits expenses and expect the majority of the loan, if not all, will be forgiven. The loan contains customary events of default relating to, among other things, payment defaults, making materially false and misleading representations to the lender or breaching the terms of the loan documents. During the second quarter of 2020, the PPP was amended to allow borrowers to choose either an eight-week or 24-week period to use the funds. We elected to use the 24-week period, which ended in October 2020. The amount eligible for forgiveness is based on the amount of loan proceeds used by us (during the 24-week period after the lender makes the first disbursement of loan proceeds) for the payment of certain covered costs, including payroll costs (including benefits), subject to certain limitations and reductions in accordance with the CARES Act. We submitted our application for forgiveness of the full $10 million loan in November 2020. No assurance can be given that we will obtain forgiveness of the loan in whole or in part. In addition, as a borrower that received over $2.0 million, we expect to be subject to an audit to review our eligibility under the PPP. The timing and scope of the audit remains unclear and as a result we are not able to forecast when we can expect a decision on loan forgiveness. We do not expect the audit will impact our eligibility for forgiveness under the PPP. Interest Expense —Interest expense is recorded net of any capitalized interest associated with investments in capital projects. We incurred gross interest expense of $2.5 million and $0.9 million for the three months ended September 30, 2020, and 2019, respectively, and $4.0 million and $2.4 million for the nine months ended September 30, 2020, and 2019, respectively. Amounts included in interest expense, net for the three and nine months ended September 30, 2020, and 2019, were as follows (in thousands): Three Months Ended Nine Months Ended 2020 2019 2020 2019 Interest on debt borrowings $ 386 $ 804 $ 1,748 $ 2,143 Make-whole payments 1,868 — 1,868 — Amortization of deferred financing costs 196 80 357 217 Gross interest expense 2,450 884 3,973 2,360 Less capitalized interest — (35) (96) (102) Interest expense, net $ 2,450 $ 849 $ 3,877 $ 2,258

INTANGIBLE ASSETS

INTANGIBLE ASSETS	9 Months Ended
	Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	INTANGIBLE ASSETS We have water rights, recorded at $19.2 million at September 30, 2020, and December 31, 2019. Our water rights have indefinite lives and are not amortized. We evaluate our water rights at least annually on October 1 for impairment, or more frequently if circumstances require. With the economic slowdown as a result of the novel coronavirus (COVID-19) pandemic, we reviewed our water rights for possible triggering events for impairment as of September 30, 2020 and concluded we do not have any triggering events. We account for other intangible assets as finite-lived intangible assets and amortize those intangible assets over the period of estimated benefit, using the straight-line method. The weighted average amortization period for the other intangible assets is approximately 20 years. At September 30, 2020, and December 31, 2019, these intangible assets had a net book value of $6.0 million

FINANCIAL INFORMATION FOR SUBSI

FINANCIAL INFORMATION FOR SUBSIDIARY GUARANTORS OF POSSIBLE FUTURE PUBLIC DEBT	9 Months Ended
	Sep. 30, 2020
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 $9.3 million and $20.6 million at September 30, 2020, and December 31, 2019, 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. The assets and liabilities of our other subsidiaries are immaterial. 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	9 Months Ended
	Sep. 30, 2020
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 September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Asset retirement obligation, at beginning of period $ 23,003 $ 23,959 $ 22,250 $ 23,125 Liabilities settled — — (116) — Accretion of discount 434 513 1,303 1,347 Total asset retirement obligation, at end of period $ 23,437 $ 24,472 $ 23,437 $ 24,472

REVENUE

REVENUE	9 Months Ended
	Sep. 30, 2020
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. The timing of revenue recognition, billings, and cash collection may result in contract assets or contract liabilities. Contract Balances: As of September 30, 2020, and December 31, 2019, we had $26.5 million and $16.6 million of contract liabilities, respectively, which are included in "Other current liabilities" on the Condensed Consolidated Balance Sheets, primarily related to cash advances received from a customer for water purchases. Customer advances received before we have satisfied our performance obligations are accounted for as a contract liability (sometimes referred to in practice as deferred revenue). We will recognize the deferred revenue at the time the customer calls for water delivery, which we expect will be sourced from our existing long-term water rights. Our deferred revenue activity for the three and nine months ended September 30, 2020, and 2019 is shown below (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Beginning balance $ 22,690 $ 10,643 $ 16,612 $ 11,678 Additions 3,883 3,816 13,529 7,343 Recognized as revenue during period (71) (1,054) (3,639) (5,616) Ending balance $ 26,502 $ 13,405 $ 26,502 $ 13,405 Disaggregation of Revenue: The tables below show the disaggregation of revenue by product and reconciles disaggregated revenue to segment revenue for the three and nine months ended September 30, 2020, and 2019. 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 (in thousands): Three Months Ended September 30, 2020 Product Potash Segment Trio ® Segment Oilfield Solutions Segment Intersegment Eliminations Total Potash $ 18,575 $ — $ — $ (49) $ 18,526 Trio ® — 11,441 — — 11,441 Water 262 1,312 2,037 — 3,611 Salt 1,995 137 — — 2,132 Magnesium Chloride 1,127 — — — 1,127 Brine Water 228 — 105 — 333 Other — — 908 — 908 Total Revenue $ 22,187 $ 12,890 $ 3,050 $ (49) $ 38,078 Nine Months Ended September 30, 2020 Product Potash Segment Trio® Segment Oilfield Solutions Segment Intersegment Eliminations Total Potash $ 69,942 $ — $ — $ (253) $ 69,689 Trio ® — 51,474 — — 51,474 Water 957 2,963 10,727 — 14,647 Salt 5,792 285 — — 6,077 Magnesium Chloride 2,838 — — — 2,838 Brine Water 975 — 297 — 1,272 Other — — 2,515 — 2,515 Total Revenue $ 80,504 $ 54,722 $ 13,539 $ (253) $ 148,512 Three Months Ended September 30, 2019 Product Potash Segment Trio ® Segment Oilfield Solutions Segment Intersegment Eliminations Total Potash $ 24,242 $ — $ — $ — $ 24,242 Trio ® — 13,370 — — 13,370 Water 574 1,211 5,488 — 7,273 Salt 2,736 56 — — 2,792 Magnesium Chloride 949 — — — 949 Brine Water 712 — — — 712 Other — — 1,822 — 1,822 Total Revenue $ 29,213 $ 14,637 $ 7,310 $ — $ 51,160 Nine Months Ended September 30, 2019 Product Potash Segment Trio ® Segment Oilfield Solutions Segment Intersegment Eliminations Total Potash $ 84,807 $ — $ 2,040 $ (1,319) $ 85,528 Trio ® — 50,283 — — 50,283 Water 1,371 3,090 13,864 — 18,325 Salt 8,105 508 — — 8,613 Magnesium Chloride 2,895 — — — 2,895 Brine Water 1,912 — — — 1,912 Other — — 3,670 — 3,670 Total Revenue $ 99,090 $ 53,881 $ 19,574 $ (1,319) $ 171,226

COMPENSATION PLANS

COMPENSATION PLANS	3 Months Ended
	Sep. 30, 2019
Share-based Payment Arrangement [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"). The Plan was most recently amended and restated in May 2019. We have issued common stock, restricted stock, performance units, and non-qualified stock option awards under the Plan. At September 30, 2020, approximately 0.8 million shares remained available for issuance under the Plan. As of September 30, 2020, the following awards were outstanding under the Plan (in thousands): Outstanding as of Restricted Shares 288 Non-qualified Stock Options 310 Total share-based compensation expense was $1.0 million and $1.0 million for the three months ended September 30, 2020, and 2019, respectively, and $3.0 million and $3.2 million for the nine months ended September 30, 2020, and 2019, respectively. As of September 30, 2020, we had $3.6 million of total remaining unrecognized compensation expense related to awards, that is expected to be recognized over a weighted-average period of 1.1 years.

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2020
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 September 30, 2020, and 2019, we incurred no income tax expense. During both the nine months ended September 30, 2020, and September 30, 2019, we incurred an immaterial amount of income tax benefit. Our effective tax rate for the three months ended September 30, 2020, and 2019, and the nine months ended September 30, 2020, and 2019 was 0%. Our effective tax rates differed from the statutory rate during each period primarily due to changes in the valuation allowance established to offset our deferred tax assets.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Reclamation Deposits and Surety Bonds —As of September 30, 2020, and December 31, 2019, we had $22.3 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 $21.8 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 —We are subject to 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, except as noted below, we believe the ultimate resolution of these claims or actions is not reasonable likely to have a material adverse effect on our financial condition, results of operations, or cash flows. Mosaic Settlement In March 2020, we entered into a definitive settlement agreement with Mosaic Potash Carlsbad Inc. ("Mosaic") related to a complaint originally brought against us and Steve Gamble in February 2015. Mr. Gamble is a former employee of Intrepid and Mosaic. Under the terms of the settlement agreement, we paid Mosaic an aggregate of $10 million in May 2020 to dismiss all current and future claims arising from this matter against us and the matter is now closed. Water Rights In February 2019, Pecos Valley Artesian Conservancy District, Carlsbad Irrigation District, and Otis Mutual Domestic Water Consumers & Sewage Works Association (together, the "Protestants") filed an expedited inter se proceeding against us, Henry McDonald, Select Energy Services, LLC d/b/a Gregory Rockhouse Ranch, and Vision Resources, Inc. in the Fifth Judicial District Court for the County of Chaves in the State of New Mexico. This court serves as the adjudication court for the Pecos Stream System, which includes the Pecos River. The Protestants challenged the validity of our Pecos River water rights, representing approximately 20,000 acre feet per year. In August 2019, the parties stipulated to the jurisdiction of the adjudication court. To promote settlement, the adjudication court established a settlement schedule and ordered a trial date in August 2020 if the parties have not reached a settlement by that time. The trial date has since been rescheduled to December 2020, subject to the continued motions of the protestants. We were allowed to sell water associated with 5,700 acre feet per year of these water rights under preliminary authorizations issued in 2017 and 2018 by the New Mexico Office of the State Engineer ("OSE"). The preliminary authorizations allowed for water sales to begin immediately, subject to repayment, which can be made "in-kind" with water from our other water rights, if the Pecos River water rights are ultimately found to be invalid. In December 2019, the protestants filed a Petition for Writ of Mandamus against the OSE concerning these permits, despite its agreed stipulation to jurisdiction of the adjudication court, also asking for unspecified monetary and injunctive relief, as well as attorneys' fees and costs, relating to our sale of water under these water rights and breach of contract claims. A hearing regarding this Petition was held in March 2020, and the non-adjudication court granted the Writ against the New Mexico State Engineer challenging the State Engineer's right to grant preliminary authorizations under the New Mexico Water-Use Leasing Act. The non-adjudication court also denied our right to participate as a potentially harmed party. The non-adjudication court’s challenged ruling requires the OSE to withdraw and cancel certain preliminary authorizations the OSE had issued to us. This challenged ruling by the non-adjudication court does not impact the validity of our water rights, but limits our and our lessees ability to use water under certain leases, subject to challenge. The OSE has filed a Petition for Writ of Superintending Control with the New Mexico Supreme Court seeking to reverse the decision by the non-adjudication court and stay any actions taken as a result of the Writ of Mandamus. We have filed a Petition for Writ of Superintending Control in the New Mexico Supreme Court seeking a reversal of the denial of Intrepid’s request to intervene and seeking to stay enforcement while the matter is being decided. While the New Mexico Supreme Court has not yet ruled on either of these motions, the OSE has withdrawn and cancelled certain preliminary authorizations the OSE had issued to us. Subsequently, on July 21, 2020, the OSE filed its State of New Mexico Response to CID/Otis's Motion for Summary Judgment, indicating our rights at up to 6,000 acre feet. 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	9 Months Ended
	Sep. 30, 2020
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 September 30, 2020, and December 31, 2019, 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. In May of 2020, we acquired a non-controlling interest in W.D. Von Gonten Laboratories ("WDVGL") for $3.5 million. This investment is an equity investment without a readily determinable fair value and is recorded at cost with adjustments for observable changes in prices resulting from orderly transactions for the identical or a similar investment of the same issuer or impairment (a Level 3 input), and is included in "Other assets, net" on the Condensed Consolidated Balance Sheets. We did not record any adjustments to the $3.5 million carrying value of the investment during the third quarter of 2020.

BUSINESS SEGMENTS

BUSINESS SEGMENTS	9 Months Ended
	Sep. 30, 2020
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 Potash Trio ® Oilfield Solutions Other Consolidated Sales $ 22,187 $ 12,890 $ 3,050 $ (49) $ 38,078 Less: Freight costs 3,973 3,878 — (49) 7,802 Warehousing and handling 1,173 1,142 — — 2,315 Cost of goods sold 14,928 8,754 3,363 — 27,045 Lower of cost or net 760 464 — — 1,224 Gross Margin (Deficit) $ 1,353 $ (1,348) $ (313) $ — $ (308) Depreciation, depletion, and amortization incurred 1 $ 6,430 $ 1,531 $ 657 $ 210 $ 8,828 Nine Months Ended Potash Trio ® Oilfield Solutions Other Consolidated Sales $ 80,504 $ 54,722 $ 13,539 $ (253) $ 148,512 Less: Freight costs 12,700 15,950 — (253) 28,397 Warehousing and handling 3,673 3,611 — — 7,284 Cost of goods sold 55,298 40,405 8,397 — 104,100 Lower of cost or net 1,130 2,885 — — 4,015 Gross Margin (Deficit) $ 7,703 $ (8,129) $ 5,142 $ — $ 4,716 Depreciation, depletion, and amortization incurred 1 $ 19,485 $ 4,556 $ 1,945 $ 632 $ 26,618 Three Months Ended Potash Trio ® Oilfield Solutions Other Consolidated Sales $ 29,213 $ 14,637 $ 7,310 $ — $ 51,160 Less: Freight costs 4,728 3,996 — — 8,724 Warehousing and handling 1,190 972 — — 2,162 Cost of goods sold 18,707 9,315 3,841 — 31,863 Lower of cost or net — 1,462 — — 1,462 Gross Margin (Deficit) $ 4,588 $ (1,108) $ 3,469 $ — $ 6,949 Depreciation, depletion, and amortization incurred 1 $ 6,048 $ 1,517 $ 747 $ 202 $ 8,514 Nine Months Ended Potash Trio ® Oilfield Solutions Other Consolidated Sales $ 99,090 $ 53,881 $ 19,574 $ (1,319) $ 171,226 Less: Freight costs 14,110 15,502 861 — 30,473 Warehousing and handling 3,776 2,852 — — 6,628 Cost of goods sold 59,024 32,988 8,682 (1,319) 99,375 Lower of cost or net — 1,462 — — 1,462 Gross Margin $ 22,180 $ 1,077 $ 10,031 $ — $ 33,288 Depreciation, depletion and amortization incurred 1 $ 18,963 $ 4,595 $ 1,170 $ 605 $ 25,333 1 Depreciation, depletion, and amortization incurred for potash and Trio ® excludes depreciation, depletion and amortization amounts absorbed in or relieved from inventory.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2020
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. 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, 2019. We have updated our accounting policies for estimating credit losses as a result of adopting Accounting Standards Update ("ASU") No. 2016-13, Financial Instruments - (Topic 326): Measurement of Credit Losses on Financial Instruments
Reverse Stock Split	On August 10, 2020, after receipt of stockholder approval, the Board of Directors approved an amendment to our Certificate of Incorporation to effect a reverse stock split of our common stock, par value $0.001 per share, by a ratio of one-for-ten. The reverse stock split became effective August 14, 2020. Additionally, the total number of authorized shares of our common stock was reduced to 40,000,000 shares. Unless otherwise indicated, all share amounts, per share data, share prices, exercise prices and conversion rates set forth in these notes and the accompanying condensed consolidated financial statements have, where applicable, been adjusted retroactively to reflect this reverse stock split.
Recently Adopted Accounting Standards	In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - (Topic 326): Measurement of Credit Losses on Financial Instruments , which we adopted on January 1, 2020. ASU No. 2016-13 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 and required a cumulative-effect adjustment to the statement of financial position on January 1, 2020. The effect of the adoption of this standard was immaterial on our condensed consolidated financial statements.
Reclassification 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)	9 Months Ended
	Sep. 30, 2020
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 September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Net (loss) income $ (10,175) $ (217) $ (26,444) $ 11,549 Basic weighted-average common shares outstanding 13,006 12,917 12,981 12,893 Add: Dilutive effect of restricted stock — — — 130 Add: Dilutive effect of stock options — — — 83 Add: Dilutive effect of performance units — — — — Diluted weighted-average common shares outstanding 13,006 12,917 12,981 13,106 Basic $ (0.78) $ (0.02) $ (2.04) $ 0.90 Diluted $ (0.78) $ (0.02) $ (2.04) $ 0.88
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 September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Anti-dilutive effect of restricted stock 289 225 233 41 Anti-dilutive effect of stock options outstanding 310 322 311 166

CASH, CASH EQUIVALENTS AND RE_2

CASH, CASH EQUIVALENTS AND RESTRICTED CASH (Tables)	9 Months Ended
	Sep. 30, 2020
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 September 30, 2020, and 2019 (in thousands): September 30, 2020 September 30, 2019 Cash and cash equivalents $ 9,258 $ 13,023 Restricted cash included in other current assets 150 150 Restricted cash included in other long-term assets 516 486 Total cash, cash equivalents, and restricted cash as shown in the statement of cash flows $ 9,924 $ 13,659

INVENTORY AND LONG-TERM PARTS_2

INVENTORY AND LONG-TERM PARTS INVENTORY (Tables)	9 Months Ended
	Sep. 30, 2020
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 September 30, 2020, and December 31, 2019 (in thousands): September 30, 2020 December 31, 2019 Finished goods product inventory $ 39,571 $ 55,585 In-process inventory 34,739 25,591 Total product inventory 74,310 81,176 Current parts inventory, net 10,894 13,044 Total current inventory, net 85,204 94,220 Long-term parts inventory, net 28,978 27,569 Total inventory, net $ 114,182 $ 121,789

PROPERTY, PLANT, EQUIPMENT, A_2

PROPERTY, PLANT, EQUIPMENT, AND MINERAL PROPERTIES (Tables)	9 Months Ended
	Sep. 30, 2020
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): September 30, 2020 December 31, 2019 Land $ 27,263 $ 27,274 Ponds and land improvements 66,742 65,992 Mineral properties and development costs 143,955 143,988 Buildings and plant 81,702 81,468 Machinery and equipment 264,596 253,536 Vehicles 5,958 6,222 Office equipment and improvements 9,733 9,136 Operating lease ROU assets 8,289 8,123 Breeding stock 260 — Construction in progress 2,815 7,124 Total property, plant, equipment, and mineral properties, gross $ 611,313 $ 602,863 Less: accumulated depreciation, depletion, and amortization (249,196) (224,354) Total property, plant, equipment, and mineral properties, net $ 362,117 $ 378,509
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 September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Depreciation $ 7,511 $ 7,128 $ 22,164 $ 20,881 Depletion 710 705 2,599 2,812 Amortization of right of use assets 527 493 1,614 1,452 Total incurred $ 8,748 $ 8,326 $ 26,377 $ 25,145

DEBT (Tables)

DEBT (Tables)	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Schedule of Long Term Debt	Our outstanding long-term debt, net, as of September 30, 2020, and December 31, 2019, was as follows (in thousands): September 30, 2020 December 31, 2019 Notes and Payroll Protection Loan $ 25,000 $ 50,000 Less current portion of long-term debt (10,000) (20,000) Less deferred financing costs (82) (247) Long-term debt, net $ 14,918 $ 29,753
Schedule Of Interest Expense	Amounts included in interest expense, net for the three and nine months ended September 30, 2020, and 2019, were as follows (in thousands): Three Months Ended Nine Months Ended 2020 2019 2020 2019 Interest on debt borrowings $ 386 $ 804 $ 1,748 $ 2,143 Make-whole payments 1,868 — 1,868 — Amortization of deferred financing costs 196 80 357 217 Gross interest expense 2,450 884 3,973 2,360 Less capitalized interest — (35) (96) (102) Interest expense, net $ 2,450 $ 849 $ 3,877 $ 2,258

ASSET RETIREMENT OBLIGATION (Ta

ASSET RETIREMENT OBLIGATION (Tables)	9 Months Ended
	Sep. 30, 2020
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 September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Asset retirement obligation, at beginning of period $ 23,003 $ 23,959 $ 22,250 $ 23,125 Liabilities settled — — (116) — Accretion of discount 434 513 1,303 1,347 Total asset retirement obligation, at end of period $ 23,437 $ 24,472 $ 23,437 $ 24,472

REVENUE (Tables)

REVENUE (Tables)	9 Months Ended
	Sep. 30, 2020
Revenue from Contract with Customer [Abstract]
Contract Balances	Customer advances received before we have satisfied our performance obligations are accounted for as a contract liability (sometimes referred to in practice as deferred revenue). We will recognize the deferred revenue at the time the customer calls for water delivery, which we expect will be sourced from our existing long-term water rights. Our deferred revenue activity for the three and nine months ended September 30, 2020, and 2019 is shown below (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Beginning balance $ 22,690 $ 10,643 $ 16,612 $ 11,678 Additions 3,883 3,816 13,529 7,343 Recognized as revenue during period (71) (1,054) (3,639) (5,616) Ending balance $ 26,502 $ 13,405 $ 26,502 $ 13,405
Disaggregation of Revenue	The tables below show the disaggregation of revenue by product and reconciles disaggregated revenue to segment revenue for the three and nine months ended September 30, 2020, and 2019. 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 (in thousands): Three Months Ended September 30, 2020 Product Potash Segment Trio ® Segment Oilfield Solutions Segment Intersegment Eliminations Total Potash $ 18,575 $ — $ — $ (49) $ 18,526 Trio ® — 11,441 — — 11,441 Water 262 1,312 2,037 — 3,611 Salt 1,995 137 — — 2,132 Magnesium Chloride 1,127 — — — 1,127 Brine Water 228 — 105 — 333 Other — — 908 — 908 Total Revenue $ 22,187 $ 12,890 $ 3,050 $ (49) $ 38,078 Nine Months Ended September 30, 2020 Product Potash Segment Trio® Segment Oilfield Solutions Segment Intersegment Eliminations Total Potash $ 69,942 $ — $ — $ (253) $ 69,689 Trio ® — 51,474 — — 51,474 Water 957 2,963 10,727 — 14,647 Salt 5,792 285 — — 6,077 Magnesium Chloride 2,838 — — — 2,838 Brine Water 975 — 297 — 1,272 Other — — 2,515 — 2,515 Total Revenue $ 80,504 $ 54,722 $ 13,539 $ (253) $ 148,512 Three Months Ended September 30, 2019 Product Potash Segment Trio ® Segment Oilfield Solutions Segment Intersegment Eliminations Total Potash $ 24,242 $ — $ — $ — $ 24,242 Trio ® — 13,370 — — 13,370 Water 574 1,211 5,488 — 7,273 Salt 2,736 56 — — 2,792 Magnesium Chloride 949 — — — 949 Brine Water 712 — — — 712 Other — — 1,822 — 1,822 Total Revenue $ 29,213 $ 14,637 $ 7,310 $ — $ 51,160 Nine Months Ended September 30, 2019 Product Potash Segment Trio ® Segment Oilfield Solutions Segment Intersegment Eliminations Total Potash $ 84,807 $ — $ 2,040 $ (1,319) $ 85,528 Trio ® — 50,283 — — 50,283 Water 1,371 3,090 13,864 — 18,325 Salt 8,105 508 — — 8,613 Magnesium Chloride 2,895 — — — 2,895 Brine Water 1,912 — — — 1,912 Other — — 3,670 — 3,670 Total Revenue $ 99,090 $ 53,881 $ 19,574 $ (1,319) $ 171,226

COMPENSATION PLANS (Tables)

COMPENSATION PLANS (Tables)	9 Months Ended
	Sep. 30, 2020
Share-based Payment Arrangement [Abstract]
Schedule of Outstanding Share Based Awards	As of September 30, 2020, the following awards were outstanding under the Plan (in thousands): Outstanding as of Restricted Shares 288 Non-qualified Stock Options 310

BUSINES SEGMENTS (Tables)

BUSINES SEGMENTS (Tables)	9 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Three Months Ended Potash Trio ® Oilfield Solutions Other Consolidated Sales $ 22,187 $ 12,890 $ 3,050 $ (49) $ 38,078 Less: Freight costs 3,973 3,878 — (49) 7,802 Warehousing and handling 1,173 1,142 — — 2,315 Cost of goods sold 14,928 8,754 3,363 — 27,045 Lower of cost or net 760 464 — — 1,224 Gross Margin (Deficit) $ 1,353 $ (1,348) $ (313) $ — $ (308) Depreciation, depletion, and amortization incurred 1 $ 6,430 $ 1,531 $ 657 $ 210 $ 8,828 Nine Months Ended Potash Trio ® Oilfield Solutions Other Consolidated Sales $ 80,504 $ 54,722 $ 13,539 $ (253) $ 148,512 Less: Freight costs 12,700 15,950 — (253) 28,397 Warehousing and handling 3,673 3,611 — — 7,284 Cost of goods sold 55,298 40,405 8,397 — 104,100 Lower of cost or net 1,130 2,885 — — 4,015 Gross Margin (Deficit) $ 7,703 $ (8,129) $ 5,142 $ — $ 4,716 Depreciation, depletion, and amortization incurred 1 $ 19,485 $ 4,556 $ 1,945 $ 632 $ 26,618 Three Months Ended Potash Trio ® Oilfield Solutions Other Consolidated Sales $ 29,213 $ 14,637 $ 7,310 $ — $ 51,160 Less: Freight costs 4,728 3,996 — — 8,724 Warehousing and handling 1,190 972 — — 2,162 Cost of goods sold 18,707 9,315 3,841 — 31,863 Lower of cost or net — 1,462 — — 1,462 Gross Margin (Deficit) $ 4,588 $ (1,108) $ 3,469 $ — $ 6,949 Depreciation, depletion, and amortization incurred 1 $ 6,048 $ 1,517 $ 747 $ 202 $ 8,514 Nine Months Ended Potash Trio ® Oilfield Solutions Other Consolidated Sales $ 99,090 $ 53,881 $ 19,574 $ (1,319) $ 171,226 Less: Freight costs 14,110 15,502 861 — 30,473 Warehousing and handling 3,776 2,852 — — 6,628 Cost of goods sold 59,024 32,988 8,682 (1,319) 99,375 Lower of cost or net — 1,462 — — 1,462 Gross Margin $ 22,180 $ 1,077 $ 10,031 $ — $ 33,288 Depreciation, depletion and amortization incurred 1 $ 18,963 $ 4,595 $ 1,170 $ 605 $ 25,333 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)	9 Months Ended
	Sep. 30, 2020Facilitysegment
Number of mining facilities | Facility	3
Number of reportable segments | segment	3

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	Aug. 10, 2020	Sep. 30, 2020$ / sharesshares	Dec. 31, 2019$ / sharesshares
Accounting Policies [Abstract]
Common stock, par value (in dollars per share) | $ / shares		$ 0.001	$ 0.001
Common stock, shares authorized | shares		40,000,000	40,000,000
Reverse stock split, conversion ratio	0.10

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		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Earnings Per Share [Abstract]
Net (loss) Income	$ (10,175)	$ (217)	$ (26,444)	$ 11,549
Basic weighted average common shares outstanding (in shares)	13,006	12,917	12,981	12,893
Add: Dilutive effect of restricted stock (in shares)	0	0	0	130
Add: Dilutive effect of stock options (in shares)	0	0	0	83
Add: Dilutive effect of performance units	0	0	0	0
Diluted weighted average common shares outstanding (in shares)	13,006	12,917	12,981	13,106
Basic (in dollars per share)	$ (0.78)	$ (0.02)	$ (2.04)	$ 0.90
Diluted (in dollars per share)	$ (0.78)	$ (0.02)	$ (2.04)	$ 0.88

EARNINGS PER SHARE (Schedule _2

EARNINGS PER SHARE (Schedule of Anti-Dilutive Shares) (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Restricted Shares [Member]
Anti-dilutive weighted average non-vested shares
Anti-dilutive shares (in shares)	289	225	233	41
Stock Options [Member]
Anti-dilutive weighted average non-vested shares
Anti-dilutive shares (in shares)	310	322	311	166

CASH, CASH EQUIVALENTS AND RE_3

CASH, CASH EQUIVALENTS AND RESTRICTED CASH (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019	Dec. 31, 2018
Cash and Cash Equivalents [Abstract]
Cash and cash equivalents	$ 9,258	$ 20,603	$ 13,023
Restricted cash included in other current assets	150		150
Restricted cash included in other long-term assets	516		486
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows	$ 9,924	$ 21,239	$ 13,659	$ 33,704

INVENTORY AND LONG-TERM PARTS_3

INVENTORY AND LONG-TERM PARTS INVENTORY (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Inventory Disclosure [Abstract]
Lower of cost or net realizable value inventory adjustments	$ 1,224	$ 1,462	$ 4,015	$ 1,462
Inventory valuation reserves	$ 1,100		$ 1,100		$ 600

INVENTORY AND LONG-TERM PARTS_4

INVENTORY AND LONG-TERM PARTS INVENTORY (Summary of Inventory) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Inventory [Line Items]
Finished goods product inventory	$ 39,571	$ 55,585
In-process mineral inventory	34,739	25,591
Total product inventory	74,310	81,176
Current parts inventory, net	10,894	13,044
Total current inventory, net	85,204	94,220
Long-term parts inventory, net	28,978	27,569
Total inventory, net	$ 114,182	$ 121,789

PROPERTY, PLANT, EQUIPMENT, A_3

PROPERTY, PLANT, EQUIPMENT, AND MINERAL PROPERTIES (Narrative) (Details) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Mar. 31, 2020USD ($)a	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)
Property, Plant and Equipment [Line Items]
Number of acre, land sold | a	320
Proceeds from sale of assets	$ 4,800			$ 4,786	$ 68
Gain on sale of assets	$ 4,700	$ (21)	$ 56	$ 4,441	$ 17

PROPERTY, PLANT, EQUIPMENT, A_4

PROPERTY, PLANT, EQUIPMENT, AND MINERAL PROPERTIES (Schedule of Property, Plant, Equipment, and Mineral Properties) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Total property, plant, equipment, and mineral properties, gross	$ 611,313	$ 602,863
Less: accumulated depreciation, depletion, and amortization	(249,196)	(224,354)
Total property, plant, equipment and mineral properties, net	362,117	378,509
Land [Member]
Property, Plant and Equipment [Line Items]
Total property, plant, equipment, and mineral properties, gross	27,263	27,274
Ponds and Land Improvements [Member]
Property, Plant and Equipment [Line Items]
Total property, plant, equipment, and mineral properties, gross	66,742	65,992
Mineral Properties And Development Costs [Member]
Property, Plant and Equipment [Line Items]
Total property, plant, equipment, and mineral properties, gross	143,955	143,988
Buildings and Plant [Member]
Property, Plant and Equipment [Line Items]
Total property, plant, equipment, and mineral properties, gross	81,702	81,468
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Total property, plant, equipment, and mineral properties, gross	264,596	253,536
Vehicles [Member]
Property, Plant and Equipment [Line Items]
Total property, plant, equipment, and mineral properties, gross	5,958	6,222
Office Equipment and Improvements [Member]
Property, Plant and Equipment [Line Items]
Total property, plant, equipment, and mineral properties, gross	9,733	9,136
Operating Lease ROU Assets [Member]
Property, Plant and Equipment [Line Items]
Total property, plant, equipment, and mineral properties, gross	8,289	8,123
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Total property, plant, equipment, and mineral properties, gross	2,815	7,124
Breeding and Production Animals
Property, Plant and Equipment [Line Items]
Total property, plant, equipment, and mineral properties, gross	$ 260	$ 0

PROPERTY, PLANT, EQUIPMENT, A_5

PROPERTY, PLANT, EQUIPMENT, AND MINERAL PROPERTIES (Schedule of Depreciation, Depletion, and Accretion) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Property, Plant and Equipment [Abstract]
Depreciation	$ 7,511	$ 7,128	$ 22,164	$ 20,881
Depletion	710	705	2,599	2,812
Amortization of right of use assets	527	493	1,614	1,452
Total incurred	$ 8,748	$ 8,326	$ 26,377	$ 25,145

DEBT (Details)

DEBT (Details) $ in Thousands	Jul. 17, 2020USD ($)	Apr. 16, 2020USD ($)	Apr. 30, 2020USD ($)	Aug. 31, 2019	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Aug. 01, 2019USD ($)	Jul. 31, 2019USD ($)
Debt
Repayments of long-term debt							$ 35,000	$ 0
Interest expense					$ 2,450	$ 884	3,973	2,360
Proceeds from credit facility							10,000	30,317
Repayments of credit facility							$ 0	10,500
Senior Notes [Member]
Debt
Minimum fixed charge ratio							1.3
Fixed charge coverage ratio							3
Maximum leverage ratio							3.5
Leverage ratio							2.1
Bank Of Montreal [Member]
Debt
Credit facility, maximum borrowing capacity									$ 75,000	$ 50,000
Line of credit, accordion feature									$ 75,000
Proceeds from credit facility							$ 10,000
Repayments of credit facility								10,500
Line of credit, outstanding					29,800	$ 30,300	29,800	$ 30,300
Letters of credit outstanding, amount					1,000		1,000
Line of credit facility, current borrowing capacity					$ 30,000		$ 30,000
Credit facility, maturity date				Aug. 1, 2024
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							1.25%
Series A Senior Notes [Member] | Senior Notes [Member]
Debt
Repayments of long-term debt		$ 20,000
Interest Rate					3.73%	3.73%	3.73%	3.73%
Series B Senior Notes [Member] | Senior Notes [Member]
Debt
Senior Notes					$ 15,000		$ 15,000
Debt, maturity Date							Apr. 14, 2023
Interest Rate					4.63%	4.63%	4.63%	4.63%
Cares act paycheck protection program notes amendment			$ 10,000
Series C Senior Notes [Member]
Debt
Repayments of long-term debt	$ 15,000
Make-whole payment	$ 1,900
Series C Senior Notes [Member] | Senior Notes [Member]
Debt
Interest Rate					4.78%	4.78%	4.78%	4.78%
Paycheck Protection Program Loan [Member]
Debt
Interest Rate			1.00%
Proceeds from loan			$ 10,000
Scenario, Plan, Beginning November 2020 [Member]18 | Paycheck Protection Program Loan [Member]
Debt
Monthly required principal and interest							$ 600

DEBT SCHEDULE OF LONG TERM DEBT

DEBT SCHEDULE OF LONG TERM DEBT (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Debt
Less current portion of long-term debt	$ (10,000)	$ (20,000)
Senior Notes [Member]
Debt
Less current portion of long-term debt	(10,000)	(20,000)
Less deferred financing costs	(82)	(247)
Long-term debt, net	14,918	29,753
Notes and Payroll Protection Loan [Member]
Debt
Long-term debt	$ 25,000	$ 50,000

DEBT SCHEDULE OF INTEREST EXPEN

DEBT SCHEDULE OF INTEREST EXPENSE (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Debt Disclosure [Abstract]
Interest on debt borrowings	$ 386	$ 804	$ 1,748	$ 2,143
Make-whole payments	1,868	0	1,868	0
Amortization of deferred financing costs	196	80	357	217
Gross interest expense	2,450	884	3,973	2,360
Less capitalized interest	0	(35)	(96)	(102)
Interest expense, net	$ 2,450	$ 849	$ 3,877	$ 2,258

INTANGIBLE ASSETS (Details)

INTANGIBLE ASSETS (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Indefinite-lived Intangible Assets [Line Items]
Intangible assets, water rights	$ 19,184	$ 19,184
Finite-lived intangible assets, weighted average amortization period	20 years
Finite-lived intangible assets, net	$ 6,000	$ 6,200

FINANCIAL INFORMATION FOR SUB_2

FINANCIAL INFORMATION FOR SUBSIDIARY GUARANTORS OF POSSIBLE FUTURE PUBLIC DEBT (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019
Guarantees [Abstract]
Cash	$ 9,300	$ 20,600
Cash and cash equivalents	$ 9,258	$ 20,603	$ 13,023

ASSET RETIREMENT OBLIGATION (Na

ASSET RETIREMENT OBLIGATION (Narrative) (Details) - Measurement Input, Risk Free Interest Rate [Member]	Sep. 30, 2020
Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit Adjusted Risk-Free Rates to Discount Abandonment Liabilities	0.069
Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit Adjusted Risk-Free Rates to Discount Abandonment Liabilities	0.097

ASSET RETIREMENT OBLIGATION (Sc

ASSET RETIREMENT OBLIGATION (Schedule of Changes to Asset Retirement Obligation) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Asset Retirement Obligation Disclosure [Abstract]
Asset retirement obligation, at beginning of period	$ 23,003	$ 23,959	$ 22,250	$ 23,125
Liabilities settled	0	0	(116)	0
Accretion of discount	434	513	1,303	1,347
Total asset retirement obligation, at end of period	$ 23,437	$ 24,472	$ 23,437	$ 24,472

REVENUE (Contract Balances) (De

REVENUE (Contract Balances) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenue from Contract with Customer [Abstract]
Beginning balance	$ 22,690	$ 10,643	$ 16,612	$ 11,678
Additions	3,883	3,816	13,529	7,343
Recognized as revenue during period	(71)	(1,054)	(3,639)	(5,616)
Ending balance	$ 26,502	$ 13,405	$ 26,502	$ 13,405

REVENUE (Disaggregation of Reve

REVENUE (Disaggregation of Revenue) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Potash [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	$ 18,526	$ 24,242	$ 69,689	$ 85,528
Trio [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	11,441	13,370	51,474	50,283
Water [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	3,611	7,273	14,647	18,325
Salt [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	2,132	2,792	6,077	8,613
Magnesium Chloride [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	1,127	949	2,838	2,895
Brine Water [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	333	712	1,272	1,912
Other [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	908	1,822	2,515	3,670
Mineral [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	38,078	51,160	148,512	171,226
Potash [Member] | Potash [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	18,575	24,242	69,942	84,807
Potash [Member] | Trio [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	0	0	0	0
Potash [Member] | Water [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	262	574	957	1,371
Potash [Member] | Salt [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	1,995	2,736	5,792	8,105
Potash [Member] | Magnesium Chloride [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	1,127	949	2,838	2,895
Potash [Member] | Brine Water [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	228	712	975	1,912
Potash [Member] | Other [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	0	0	0	0
Potash [Member] | Mineral [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	22,187	29,213	80,504	99,090
Trio [Member] | Potash [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	0	0	0	0
Trio [Member] | Trio [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	11,441	13,370	51,474	50,283
Trio [Member] | Water [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	1,312	1,211	2,963	3,090
Trio [Member] | Salt [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	137	56	285	508
Trio [Member] | Magnesium Chloride [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	0	0	0	0
Trio [Member] | Brine Water [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	0	0	0	0
Trio [Member] | Other [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	0	0	0	0
Trio [Member] | Mineral [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	12,890	14,637	54,722	53,881
Oil Field Solutions [Member] | Potash [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	0	0	0	2,040
Oil Field Solutions [Member] | Trio [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	0	0	0	0
Oil Field Solutions [Member] | Water [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	2,037	5,488	10,727	13,864
Oil Field Solutions [Member] | Salt [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	0	0	0	0
Oil Field Solutions [Member] | Magnesium Chloride [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	0	0	0	0
Oil Field Solutions [Member] | Brine Water [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	105	0	297	0
Oil Field Solutions [Member] | Other [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	908	1,822	2,515	3,670
Oil Field Solutions [Member] | Mineral [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	3,050	7,310	13,539	19,574
Intersegment Eliminations [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	(49)	0	(253)	(1,319)
Intersegment Eliminations [Member] | Potash [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	(49)	0	(253)	(1,319)
Intersegment Eliminations [Member] | Trio [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	0	0	0	0
Intersegment Eliminations [Member] | Water [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	0	0	0	0
Intersegment Eliminations [Member] | Salt [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	0	0	0	0
Intersegment Eliminations [Member] | Magnesium Chloride [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	0	0	0	0
Intersegment Eliminations [Member] | Brine Water [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	0	0	0	0
Intersegment Eliminations [Member] | Other [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	$ 0	$ 0	$ 0	$ 0

COMPENSATION PLANS (Narrative)

COMPENSATION PLANS (Narrative) (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Equity Incentive Compensation Plan [Abstract]
Shares available for issuance	0.8		0.8
Non Qualified Stock Options [Abstract]
Weighted average period, unrecognized compensation expense			1 year 1 month 6 days
Compensation expense	$ 1	$ 1	$ 3	$ 3.2
Unrecognized compensation expense	$ 3.6		$ 3.6

COMPENSATION PLANS (Schedule of

COMPENSATION PLANS (Schedule of Outstanding Share Based Awards) (Details)	Sep. 30, 2020shares
Restricted Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards outstanding, restricted stock	288,000
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards outstanding, options	310,000

INCOME TAXES (Narrative) (Detai

INCOME TAXES (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Income tax expense	$ 0	$ (8)	$ (42)	$ (8)
Effective tax rate	0.00%	0.00%	0.00%	0.00%

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Narrative) (Details) $ in Thousands	Jul. 21, 2020acre ft	May 31, 2020USD ($)	Feb. 28, 2019acre ft	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)acre ft	Sep. 30, 2019USD ($)	Dec. 31, 2019USD ($)
Commitments and Contingencies Disclosure [Abstract]
Security placed with the State of Utah and BLM				$ 22,300		$ 22,300		$ 22,300
Long-term restricted cash deposits				500		500		500
Surety bonds issued by an insurer				21,800		21,800		$ 21,800
Loss Contingencies [Line Items]
Litigation settlement		$ 10,000		$ 0	$ 0	$ 10,075	$ 0
The Protestants [Member]
Loss Contingencies [Line Items]
Pecos Water Right volume per year | acre ft			20,000
Allowable water rights to sell pending settlement | acre ft	6,000					5,700

FAIR VALUE (Details)

FAIR VALUE (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Senior notes, fair value	$ 14.8	$ 50
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Non-controlling interest	$ 3.5

BUSINESS SEGMENTS (Narrative) (

BUSINESS SEGMENTS (Narrative) (Details)	9 Months Ended
	Sep. 30, 2020segment
Segment Reporting [Abstract]
Number of reportable segments	3

BUSINESS SEGMENT (Information b

BUSINESS SEGMENT (Information by Segment) (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Segment Reporting Information [Line Items]
Lower of cost or net realizable value inventory adjustments		$ 1,224	$ 1,462	$ 4,015	$ 1,462
Gross Margin (Deficit)		(308)	6,949	4,716	33,288
Depreciation, depletion and amortization expense	[1]	8,828	8,514	26,618	25,333
Operating Segments [Member] | Potash [Member]
Segment Reporting Information [Line Items]
Lower of cost or net realizable value inventory adjustments		760		1,130
Gross Margin (Deficit)		1,353	4,588	7,703	22,180
Depreciation, depletion and amortization expense	[1]	6,430	6,048	19,485	18,963
Operating Segments [Member] | Trio [Member]
Segment Reporting Information [Line Items]
Lower of cost or net realizable value inventory adjustments		464	1,462	2,885	1,462
Gross Margin (Deficit)		(1,348)	(1,108)	(8,129)	1,077
Depreciation, depletion and amortization expense	[1]	1,531	1,517	4,556	4,595
Operating Segments [Member] | Oil Field Solutions [Member]
Segment Reporting Information [Line Items]
Gross Margin (Deficit)		(313)	3,469	5,142	10,031
Depreciation, depletion and amortization expense	[1]	657	747	1,945	1,170
Corporate/Other [Member]
Segment Reporting Information [Line Items]
Gross Margin (Deficit)		0	0	0	0
Depreciation, depletion and amortization expense	[1]	210	202	632	605
Freight Costs [Member]
Segment Reporting Information [Line Items]
Cost of Goods Sold		7,802	8,724	28,397	30,473
Freight Costs [Member] | Operating Segments [Member] | Potash [Member]
Segment Reporting Information [Line Items]
Cost of Goods Sold		3,973	4,728	12,700	14,110
Freight Costs [Member] | Operating Segments [Member] | Trio [Member]
Segment Reporting Information [Line Items]
Cost of Goods Sold		3,878	3,996	15,950	15,502
Freight Costs [Member] | Operating Segments [Member] | Oil Field Solutions [Member]
Segment Reporting Information [Line Items]
Cost of Goods Sold		0	0	0	861
Freight Costs [Member] | Corporate/Other [Member]
Segment Reporting Information [Line Items]
Cost of Goods Sold		(49)		(253)
Warehouse and Handling [Member]
Segment Reporting Information [Line Items]
Cost of Goods Sold		2,315	2,162	7,284	6,628
Warehouse and Handling [Member] | Operating Segments [Member] | Potash [Member]
Segment Reporting Information [Line Items]
Cost of Goods Sold		1,173	1,190	3,673	3,776
Warehouse and Handling [Member] | Operating Segments [Member] | Trio [Member]
Segment Reporting Information [Line Items]
Cost of Goods Sold		1,142	972	3,611	2,852
Warehouse and Handling [Member] | Operating Segments [Member] | Oil Field Solutions [Member]
Segment Reporting Information [Line Items]
Cost of Goods Sold		0	0	0	0
Warehouse and Handling [Member] | Corporate/Other [Member]
Segment Reporting Information [Line Items]
Cost of Goods Sold		0	0	0	0
Mineral [Member]
Segment Reporting Information [Line Items]
Sales		38,078	51,160	148,512	171,226
Cost of Goods Sold		27,045	31,863	104,100	99,375
Mineral [Member] | Potash [Member]
Segment Reporting Information [Line Items]
Sales		22,187	29,213	80,504	99,090
Mineral [Member] | Trio [Member]
Segment Reporting Information [Line Items]
Sales		12,890	14,637	54,722	53,881
Mineral [Member] | Oil Field Solutions [Member]
Segment Reporting Information [Line Items]
Sales		3,050	7,310	13,539	19,574
Mineral [Member] | Operating Segments [Member] | Potash [Member]
Segment Reporting Information [Line Items]
Sales		22,187	29,213	80,504	99,090
Cost of Goods Sold		14,928	18,707	55,298	59,024
Mineral [Member] | Operating Segments [Member] | Trio [Member]
Segment Reporting Information [Line Items]
Sales		12,890	14,637	54,722	53,881
Cost of Goods Sold		8,754	9,315	40,405	32,988
Mineral [Member] | Operating Segments [Member] | Oil Field Solutions [Member]
Segment Reporting Information [Line Items]
Sales		3,050	7,310	13,539	19,574
Cost of Goods Sold		3,363	3,841	8,397	8,682
Lower of cost or net realizable value inventory adjustments		0	0	0	0
Mineral [Member] | Corporate/Other [Member]
Segment Reporting Information [Line Items]
Sales		(49)	0	(253)	(1,319)
Cost of Goods Sold		$ 0	$ 0	$ 0	$ (1,319)
[1]	Depreciation, depletion, and amortization incurred for potash and Trio ® excludes depreciation, depletion and amortization amounts absorbed in or relieved from inventory.