Intrepid Potash (IPI) 10-Q 5 Aug 22 2022 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2022	Jul. 31, 2022
Document and Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
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	707 17th Street, Suite 4200
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		13,610,993
Entity Central Index Key	0001421461
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
ASSETS
Cash and cash equivalents	$ 81,927	$ 36,452
Short-term investments	5,980	0
Accounts receivable:
Trade, net	32,639	35,409
Other receivables, net	1,635	989
Refundable income taxes	21	0
Inventory, net	82,644	78,856
Prepaid expenses and other current assets	4,379	5,144
Total current assets	209,225	156,850
Property, plant and equipment, and mineral properties, net	347,834	341,117
Water rights	19,184	19,184
Long-term parts inventory, net	26,622	29,251
Other assets, net	16,025	11,418
Non-current deferred tax asset, net	192,134	209,075
Total Assets	811,024	766,895
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable	9,869	9,068
Income taxes payable	0	41
Accrued liabilities	12,775	22,938
Accrued employee compensation and benefits	6,038	6,805
Other current liabilities	34,330	34,571
Total current liabilities	63,012	73,423
Asset retirement obligation	28,004	27,024
Operating lease liabilities	1,859	1,879
Other non-current liabilities	1,310	1,166
Total Liabilities	94,185	103,492
Commitments and Contingencies
Common stock, $0.001 par value; 40,000,000 shares authorized; 13,265,813 and 13,149,315 shares outstanding at June 30, 2022 and December 31, 2021, respectively	13	13
Additional paid-in capital	657,453	659,147
Retained earnings	59,373	4,243
Total Stockholders' Equity	716,839	663,403
Total Liabilities and Stockholders' Equity	$ 811,024	$ 766,895

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - $ / shares	Jun. 30, 2022	Dec. 31, 2021
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	13,265,813	13,149,315

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Less:
Gross Margin	$ 41,811	$ 14,199	$ 88,987	$ 23,307
Selling and administrative	7,218	6,612	14,007	12,403
Accretion of asset retirement obligation	490	441	980	882
Loss (gain) on sale of assets	1,066	(2,567)	1,166	(2,565)
Other operating expense (income)	1,242	(583)	975	(577)
Operating Income	31,795	10,296	71,859	13,164
Other Income (Expense)
Interest Expense, net	(24)	(918)	(57)	(1,344)
Interest income	15	0	17	0
Other income	11	8	539	17
Gain on extinguishment of debt	0	10,113	0	10,113
Income Before Income Taxes	31,797	19,499	72,358	21,950
Income Tax Expense	(8,089)	0	(17,228)	0
Net Income	$ 23,708	$ 19,499	$ 55,130	$ 21,950
Weighted Average Shares Outstanding:
Basic (in shares)	13,246	13,089	13,203	13,071
Diluted (in shares)	13,620	13,338	13,690	13,335
Earnings Per Share:
Basic (in dollars per share)	$ 1.79	$ 1.49	$ 4.18	$ 1.68
Diluted (in dollars per share)	$ 1.74	$ 1.46	$ 4.03	$ 1.65
Freight Costs [Member]
Less:
Cost of Goods Sold	$ 9,227	$ 10,115	$ 19,464	$ 22,193
Warehouse and Handling [Member]
Less:
Cost of Goods Sold	2,204	2,378	4,680	5,010
Mineral [Member]
Sales	91,740	67,888	196,139	139,351
Less:
Cost of Goods Sold	$ 38,498	$ 41,196	$ 83,008	$ 88,841

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings/Accumulated Deficit [Member]
Balance (in shares) at Dec. 31, 2020		13,049,820
Balance at Dec. 31, 2020	$ 411,259	$ 13	$ 656,837	$ (245,591)
Net income	21,950			21,950
Stock-based compensation	1,655		1,655
Exercise of stock options	51		51
Exercise of stock options (in shares)		4,913
Vesting of restricted common stock, net of common stock used to fund employee income tax withholding due upon vesting (in shares)		66,354
Vesting of restricted common stock, net of common stock used to fund employee income tax withholding due upon vesting	(380)		(380)
Balance (in shares) at Jun. 30, 2021		13,121,087
Balance at Jun. 30, 2021	434,535	$ 13	658,163	(223,641)
Balance (in shares) at Mar. 31, 2021		13,065,654
Balance at Mar. 31, 2021	414,439	$ 13	657,566	(243,140)
Net income	19,499			19,499
Stock-based compensation	765		765
Exercise of stock options	7		7
Exercise of stock options (in shares)		725
Vesting of restricted common stock, net of common stock used to fund employee income tax withholding due upon vesting (in shares)		54,708
Vesting of restricted common stock, net of common stock used to fund employee income tax withholding due upon vesting	(175)		175
Balance (in shares) at Jun. 30, 2021		13,121,087
Balance at Jun. 30, 2021	434,535	$ 13	658,163	(223,641)
Balance (in shares) at Dec. 31, 2021		13,149,315
Balance at Dec. 31, 2021	663,403	$ 13	659,147	4,243
Net income	55,130			55,130
Stock-based compensation	2,558		2,558
Exercise of stock options	110		110
Exercise of stock options (in shares)		10,718
Vesting of restricted common stock, net of common stock used to fund employee income tax withholding due upon vesting (in shares)		105,780
Vesting of restricted common stock, net of common stock used to fund employee income tax withholding due upon vesting	(4,362)		(4,362)
Balance (in shares) at Jun. 30, 2022		13,265,813
Balance at Jun. 30, 2022	716,839	$ 13	657,453	59,373
Balance (in shares) at Mar. 31, 2022		13,218,875
Balance at Mar. 31, 2022	693,268	$ 13	657,590	35,665
Net income	23,708			23,708
Stock-based compensation	1,391		1,391
Exercise of stock options	20		20
Exercise of stock options (in shares)		1,991
Vesting of restricted common stock, net of common stock used to fund employee income tax withholding due upon vesting (in shares)		44,947
Vesting of restricted common stock, net of common stock used to fund employee income tax withholding due upon vesting	(1,548)		(1,548)
Balance (in shares) at Jun. 30, 2022		13,265,813
Balance at Jun. 30, 2022	$ 716,839	$ 13	$ 657,453	$ 59,373

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash Flows from Operating Activities:
Net income	$ 55,130	$ 21,950
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, depletion, and amortization	16,923	18,079
Accretion of asset retirement obligation	980	882
Amortization of deferred financing costs	120	194
Amortization of Intangible Assets	161	161
Stock-based compensation	2,558	1,655
Loss (gain) on disposal of assets	1,166	(2,565)
Gain on extinguishment of debt	0	(10,113)
Allowance for parts inventory obsolescence	1,600	0
Changes in operating assets and liabilities:
Trade accounts receivable, net	2,770	(235)
Other receivables, net	(646)	(893)
Inventory, net	(2,759)	13,767
Prepaid expenses and other current assets	673	495
Deferred tax assets, net	16,941	0
Accounts payable, accrued liabilities, and accrued employee compensation and benefits	(11,412)	6,023
Operating lease liabilities	(1,233)	(1,061)
Other liabilities	257	3,097
Net cash provided by operating activities	83,229	51,436
Cash Flows from Investing Activities:
Additions to property, plant, equipment, mineral properties, and other assets	(22,774)	(6,626)
Purchase of investments	(10,899)	0
Proceeds from sale of assets	46	6,042
Net cash used in investing activities	(33,627)	(584)
Cash Flows from Financing Activities:
Debt prepayment costs	0	(505)
Repayments of long-term debt	0	(15,000)
Payments of financing lease	0	(1,258)
Employee tax withholding paid for restricted stock upon vesting	(4,362)	(380)
Proceeds from exercise of stock options	110	51
Net cash used in financing activities	(4,252)	(17,092)
Net Change in Cash, Cash Equivalents and Restricted Cash	45,350	33,760
Cash, Cash Equivalents, and Restricted Cash, beginning of period	37,146	20,184
Cash, Cash Equivalents, and Restricted Cash, end of period	82,496	53,944
Supplemental disclosure of cash flow information
Interest	44	777
Income taxes	334	91
Amounts included in the measurement of operating lease liabilities	983	1,169
Accrued purchases for property, plant, equipment, and mineral properties	3,477	1,420
Right-of-use assets exchanged for operating lease liabilities	$ 794	$ 340

COMPANY BACKGROUND

COMPANY BACKGROUND	6 Months Ended
	Jun. 30, 2022
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 permitted, licensed, declared and partially adjudicated water rights in New Mexico that support our mining and industrial operations. Water that is not used to support our mining and industrial operations is primarily sold to support oil and gas development in the Permian Basin in New Mexico near our Carlsbad facilities. We continue to work to expand our water business. 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, including restricted use agreements of surface or subsurface rights, to customers where such sales provide a solution to such customer's operations in the oil and gas industry. See Note 14—Commitments and Contingencies below for further information regarding our water rights. 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	6 Months Ended
	Jun. 30, 2022
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, 2021. Recently Adopted Accounting Standards —In December 2019, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes , which simplifies the accounting for income taxes by removing certain exceptions to the general principles in Topic 740 and amends existing guidance to improve consistent application. Most amendments within this standard were required to be applied on a prospective basis, while certain amendments must be applied on a retrospective or modified retrospective basis. We adopted this standard on January 1, 2021. The effect of the adoption of this standard had an immaterial impact on our condensed consolidated financial statements. Pronouncements Issued But Not Yet Adopted —In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting ("ASU 2020-04"), which provides optional exceptions to GAAP for certain transactions related to the transition away from The London Interbank Offered Rate ("LIBOR"). The amended guidance is designed to provide relief from the accounting analysis and impacts that may otherwise be required for modifications to agreements necessitated by the reference rate reform. Application of the guidance in ASU 2020-04 is optional, is only available in certain situations, and is only available for

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Jun. 30, 2022
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 Six Months Ended 2022 2021 2022 2021 Net income $ 23,708 $ 19,499 $ 55,130 $ 21,950 Basic weighted-average common shares outstanding 13,246 13,089 13,203 13,071 Add: Dilutive effect of restricted stock 209 185 245 199 Add: Dilutive effect of stock options 165 64 242 65 Diluted weighted-average common shares outstanding 13,620 13,338 13,690 13,335 Basic $ 1.79 $ 1.49 $ 4.18 $ 1.68 Diluted $ 1.74 $ 1.46 $ 4.03 $ 1.65 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 Six Months Ended 2022 2021 2022 2021 Anti-dilutive effect of restricted stock 38 96 11 80 Anti-dilutive effect of stock options outstanding — 62 — 100

CASH, CASH EQUIVALENTS AND REST

CASH, CASH EQUIVALENTS AND RESTRICTED CASH	6 Months Ended
	Jun. 30, 2022
Cash and Cash Equivalents [Abstract]
CASH, CASH EQUIVALENTS AND RESTRICTED CASH	CASH, CASH EQUIVALENTS AND RESTRICTED CASH We consider financial instruments with original maturities of three months of less to be cash equivalents. Total cash, cash equivalents and restricted cash, as shown on the condensed consolidated statements of cash flows are included in the following accounts at June 30, 2022, and 2021 (in thousands): June 30, 2022 June 30, 2021 Cash and cash equivalents $ 81,927 $ 53,250 Restricted cash included in other current assets 25 175 Restricted cash included in other long-term assets 544 519 Total cash, cash equivalents, and restricted cash as shown in the statement of cash flows $ 82,496 $ 53,944 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	6 Months Ended
	Jun. 30, 2022
Inventory Disclosure [Abstract]
INVENTORY AND LONG-TERM PARTS INVENTORY	INVENTORY AND LONG-TERM PARTS INVENTORY The following summarizes our inventory, recorded at the lower of weighted-average cost or estimated net realizable value, as of June 30, 2022, and December 31, 2021 (in thousands): June 30, 2022 December 31, 2021 Finished goods product inventory $ 44,663 $ 42,492 In-process inventory 27,135 27,211 Total product inventory 71,798 69,703 Current parts inventory, net 10,846 9,153 Total current inventory, net 82,644 78,856 Long-term parts inventory, net 26,622 29,251 Total inventory, net $ 109,266 $ 108,107 Parts inventory is shown net of estimated allowances for obsolescence of $2.9 million as of June 30, 2022, and $3.2 million as of December 31, 2021.

PROPERTY, PLANT, EQUIPMENT, AND

PROPERTY, PLANT, EQUIPMENT, AND MINERAL PROPERTIES	6 Months Ended
	Jun. 30, 2022
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT, EQUIPMENT, AND MINERAL PROPERTIES	PROPERTY, PLANT, EQUIPMENT, AND MINERAL PROPERTIES Property, plant, equipment, and mineral properties were comprised of the following (in thousands): June 30, 2022 December 31, 2021 Land $ 24,136 $ 24,136 Ponds and land improvements 71,031 69,261 Mineral properties and development costs 144,279 144,255 Buildings and plant 84,834 84,268 Machinery and equipment 280,313 272,323 Vehicles 7,340 6,855 Office equipment and improvements 9,842 8,956 Operating lease ROU assets 5,340 7,763 Breeding stock 317 308 Construction in progress 21,690 11,469 Total property, plant, equipment, and mineral properties, gross $ 649,122 $ 629,594 Less: accumulated depreciation, depletion, and amortization (301,288) (288,477) Total property, plant, equipment, and mineral properties, net $ 347,834 $ 341,117 In May 2021, we sold approximately 330 acres of land we owned in Texas for $6.0 million and recorded a gain of $2.8 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 June 30, Six Months Ended June 30, 2022 2021 2022 2021 Depreciation $ 7,344 $ 7,356 $ 14,532 $ 14,851 Depletion 286 721 1,430 2,196 Amortization of right of use assets 395 521 961 1,032 Total incurred $ 8,025 $ 8,598 $ 16,923 $ 18,079

DEBT

DEBT	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
DEBT	DEBT Revolving Credit Facility —We maintain a revolving credit facility with Bank of Montreal. As of June 30, 2022, 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 revolving credit facility. We have granted to Bank of Montreal a first lien on substantially all of our current and 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 revolving credit facility for near-term working capital needs or other purposes and may do so in the future. During the three and six months ended June 30, 2022, and June 30, 2021, we made no borrowings and we made no repayments under the revolving credit facility. As of June 30, 2022, and December 31, 2021, we had no borrowings outstanding and $1 million in outstanding letters of credit under this facility. As of June 30, 2022, we were in compliance with all applicable covenants under the revolving credit facility. In August 2022, we amended the revolving credit facility to increase the amount available under the facility from $75 million to $150 million, and to extend the maturity date to August 4, 2027. Borrowings under the amended credit facility will bear interest at SOFR (Secured Overnight Financing Rate) plus an applicable margin 1.50% to 2.25% per annum, based on our leverage ratio as calculated in accordance with the amended agreement governing the revolving credit facility. PPP Loan —In April 2020, we received a $10 million loan under the Paycheck Protection Program (the "PPP") under the CARES Act. We submitted our application for forgiveness of the full amount of the loan in November 2020. In June 2021, we received notice that the Small Business Administration had remitted funds to our bank to fully repay our PPP loan and accrued interest. Accordingly, we recognized a gain of $10.1 million related to the forgiveness of the PPP loan and the associated accrued interest on the PPP loan. Senior Notes —In June 2021 we repaid the remaining $15.0 million of principal outstanding on our Series B Senior Notes due April 14, 2023 (the "Series B Senior Notes") and satisfied all obligations under the Amended and Restated Note Purchase Agreement, dated as of October 31, 2016, by and among the Company and each of the purchasers named therein (as amended, the "Note Purchase Agreement"). As a result of the repayment, the Note Purchase Agreement was terminated. Interest Expense —Interest expense is recorded net of any capitalized interest associated with investments in capital projects. We incurred gross interest expense of $0.1 million and $0.9 million for the three months ended June 30, 2022, and June 30, 2021, respectively, and $0.2 million and $1.4 million for the six months ended June 30, 2022, and June 30, 2021 respectively. Amounts included in interest expense, net for the three and six months ended June 30, 2022, and 2021, were as follows (in thousands): Three Months Ended Six Months Ended 2022 2021 2022 2021 Interest on debt borrowings $ 22 $ 302 $ 43 $ 667 Make-whole payments — 503 — 505 Amortization of deferred financing costs 60 126 120 194 Gross interest expense 82 931 163 1,366 Less capitalized interest (58) (13) (106) (22) Interest expense, net $ 24 $ 918 $ 57 $ 1,344

INTANGIBLE ASSETS

INTANGIBLE ASSETS	6 Months Ended
	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	INTANGIBLE ASSETS    We have water rights, recorded at $19.2 million at June 30, 2022, and December 31, 2021. 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.     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 17 years. At June 30, 2022, and December 31, 2021, these intangible assets had a net book value of $5.4 million and $5.6 million, respectively, and are included in "Other assets, net" on the Condensed Consolidated Balance Sheets.

FINANCIAL INFORMATION FOR SUBSI

FINANCIAL INFORMATION FOR SUBSIDIARY GUARANTORS OF POSSIBLE FUTURE PUBLIC DEBT	6 Months Ended
	Jun. 30, 2022
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 cash equivalents and totaled $81.9 million and $36.5 million at June 30, 2022, and December 31, 2021, 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	6 Months Ended
	Jun. 30, 2022
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. As of June 30, 2022, and December 31, 2021, our asset retirement obligation was $28.0 million, and $27.0 million, respectively. 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 June 30, Six Months Ended June 30, 2022 2021 2022 2021 Asset retirement obligation, at beginning of period $ 27,514 $ 24,313 $ 27,024 $ 23,872 Changes in estimated obligations — 26 — 26 Accretion of discount 490 441 980 882 Total asset retirement obligation, at end of period $ 28,004 $ 24,780 $ 28,004 $ 24,780

REVENUE

REVENUE	6 Months Ended
	Jun. 30, 2022
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 June 30, 2022, and December 31, 2021, we had $34.1 million and $33.8 million of contract liabilities, respectively, the majority of 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. See Note 14—Commitments and Contingencies below for additional information regarding our water rights. Our deferred revenue activity for the three and six months ended June 30, 2022, and 2021 is shown below (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Beginning balance $ 34,023 $ 33,842 $ 33,788 $ 30,418 Additions 241 — 590 3,972 Recognized as revenue during period (154) (211) (268) (759) Ending balance $ 34,110 $ 33,631 $ 34,110 $ 33,631 Disaggregation of Revenue: The tables below show the disaggregation of revenue by product and reconciles disaggregated revenue to segment revenue for the three and six months ended June 30, 2022, and 2021. 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 June 30, 2022 Product Potash Segment Trio ® Segment Oilfield Solutions Segment Intersegment Eliminations Total Potash $ 43,885 $ — $ — $ (66) $ 43,819 Trio ® — 34,687 — — 34,687 Water 363 724 3,692 — 4,779 Salt 2,658 56 — — 2,714 Magnesium Chloride 1,199 — — — 1,199 Brine Water 722 — 648 — 1,370 Other — — 3,172 — 3,172 Total Revenue $ 48,827 $ 35,467 $ 7,512 $ (66) $ 91,740 Six Months Ended June 30, 2022 Product Potash Segment Trio® Segment Oilfield Solutions Segment Intersegment Eliminations Total Potash $ 95,507 $ — $ — $ (161) $ 95,346 Trio ® — 74,303 — — 74,303 Water 1,137 1,926 7,880 — 10,943 Salt 5,292 290 — — 5,582 Magnesium Chloride 2,014 — — — 2,014 Brine Water 1,319 — 1,387 — 2,706 Other — — 5,245 — 5,245 Total Revenue $ 105,269 $ 76,519 $ 14,512 $ (161) $ 196,139 Three Months Ended June 30, 2021 Product Potash Segment Trio ® Segment Oilfield Solutions Segment Intersegment Eliminations Total Potash $ 32,881 $ — $ — $ (60) $ 32,821 Trio ® — 26,340 — — 26,340 Water 520 514 1,783 — 2,817 Salt 2,008 70 — — 2,078 Magnesium Chloride 1,880 — — — 1,880 Brine Water 404 — 229 — 633 Other — — 1,319 — 1,319 Total Revenue $ 37,693 $ 26,924 $ 3,331 $ (60) $ 67,888 Six Months Ended June 30, 2021 Product Potash Segment Trio ® Segment Oilfield Solutions Segment Intersegment Eliminations Total Potash $ 70,675 $ — $ — $ (122) $ 70,553 Trio ® — 48,855 — — 48,855 Water 1,679 1,498 5,125 — 8,302 Salt 4,047 266 — — 4,313 Magnesium Chloride 3,908 — — — 3,908 Brine Water 961 — 434 — 1,395 Other — — 2,025 — 2,025 Total Revenue $ 81,270 $ 50,619 $ 7,584 $ (122) $ 139,351

COMPENSATION PLANS

COMPENSATION PLANS	6 Months Ended
	Jun. 30, 2022
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 2022. We have issued common stock, restricted stock, performance units, and non-qualified stock option awards under the Plan. At June 30, 2022, approximately 1.1 million shares remained available for issuance under the Plan. In March 2022, the Compensation Committee granted 104,039 shares of restricted stock to executive officers and other key employees. These awards vest over three one Outstanding as of Restricted Shares 347 Non-qualified Stock Options 273 Total share-based compensation expense was $1.4 million and $0.8 million for the three ended June 30, 2022, and 2021, respectively, and $2.6 million and $1.7 million for the six months ended June 30, 2022, and 2021, respectively. As of June 30, 2022, we had $9.7 million of total remaining unrecognized compensation expense related to awards that is expected to be recognized over a weighted-average period of 1.5 years.

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2022
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, and the benefit associated with the estimated effect of the percentage depletion deduction. A summary of our provision for income taxes is as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Current portion of income tax expense $ 148 $ — $ 287 $ — Deferred portion of income tax expense 7,941 — 16,941 — Total income tax expense $ 8,089 $ — $ 17,228 $ —

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Reclamation Deposits and Surety Bonds —As of June 30, 2022, and December 31, 2021, we had $23.1 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 $22.6 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 —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 reasonably likely to have a material adverse effect on our financial condition, results of operations, or cash flows. Water Rights In February 2019, an expedited inter se proceeding commenced to determine the validity of our Pecos River water rights, representing approximately 20,000 acre feet per year. On December 17, 2021, the adjudication court entered its findings of fact and conclusions of law, which held that our predecessors in interest had forfeited all but approximately 5,800 acre feet of water per year, and that of the remaining 5,800 acre feet of water that had not been forfeited, all but 150 acre feet of water had been abandoned prior to 2017. On March 17, 2022, the adjudication court entered the subfile order and partial final judgment and decree, which adopted the court's December 17, 2021 findings of fact and conclusion of law and specifies our right to 150 acre feet per annum of water for industrial-salt processing use. On April 15, 2022, we filed a notice of appeal of the adjudication court's ruling on the validity of our water rights as well as motion to stay the effect of the adjudication court's ruling on any repayment requirement the New Mexico Office of State Engineer ("OSE") may seek to impose following entry of the subfile order and partial final decree. We ultimately withdrew our motion to stay on June 10, 2022, after the OSE indicated it would not seek immediate repayment of any water used pursuant to the emergency or preliminary authorizations, described below. In 2017 and 2018 the OSE had granted us preliminary and emergency authorizations to sell approximately 5,700 acre-feet of water per year from our Pecos River Water rights. The preliminary and emergency authorizations allowed for water sales to begin immediately, subject to repayment if the underlying water rights were ultimately found to be invalid. Since the adjudication court entered the subfile order and partial final decree based on its amended findings of fact and conclusion of law discussed above, if our appeal of the subfile order and partial final decree is unsuccessful, we may have to repay the water pumped under the preliminary authorizations. Repayment of this water could be up to two times the amount of water removed from the Pecos River. Repayment is customarily made in-kind over a period of time but can take other forms including cash repayment. If we are not able to repay in-kind due to the lack of remaining water rights or logistical constraints, we may need to purchase water to meet this repayment or be subject to a cash repayment. We cannot reasonably estimate the potential volume, timing, or form of repayment, if any, and have not recorded a loss contingency in our statement of operations related to this legal matter. In March 2021, we received notice from a customer of a default under the terms of a long-term sales contract because we have been unable to deliver water to diversion points specified in the contract. We have relied primarily upon our Pecos River water rights to deliver water under this contract, the majority of which are currently unavailable due to the factors discussed above. Under this contract we had previously received quarterly installments of approximately $3.9 million for the future delivery of water to the customer. In April 2021, we agreed to suspend the second quarter 2021 and future quarterly installments due from the customer as we continue to work to resolve the issue. In December 2021, we amended our long-term sales agreement with the customer due to our inability to deliver water. Under the amendment, we agreed to suspend all rights and obligations of both parties under the agreement until July 1, 2022. During the suspension period, we have no obligation to deliver water and our customer has no obligation to take water, if available, or make quarterly payments to us. After the suspension period, our customer has the right to terminate the agreement for any reason with thirty days written notice at which time we would be required to repay any outstanding balance for undelivered water. Although we are continuing to work with the customer to resolve this issue, we believe it is likely we will need to repay the $32.6 million outstanding contract liability we have with this customer as of June 30, 2022. See Note 11—Revenue above for additional information.

FAIR VALUE

FAIR VALUE	6 Months Ended
	Jun. 30, 2022
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. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Assets and liabilities measured at fair value are classified using the following hierarchy, which is based upon the transparency of inputs to the valuation at the measurement date: Level 1 - Quoted market prices in active markets for identical assets or liabilities. Level 2 - Inputs, other than Level 1, that are either directly or indirectly observable. Level 3 - Unobservable inputs developed using estimates and assumptions which reflect those that market participants would use. The classification of fair value measurement within the hierarchy is based upon the lowest level of input that is significant to the measurement. Other financial instruments consist primarily of cash equivalents, accounts receivable, refundable income taxes, accounts payable, accrued liabilities, and, if any, advances under our credit facility. With the exception of investment securities, we believe cost approximates fair value for our financial instruments because of the short-term natures of these instruments. Cash Equivalents —As of June 30, 2022, and December 31, 2021, we had cash equivalents of $1.6 million and zero, respectively. Held-to-Maturity Investments —As of June 30, 2022, we owned debt investment securities classified as held-to-maturity because we have the intent and ability to hold these investments to maturity. These debt securities are carried at amortized cost and consist of the following (amounts in thousands): As of June 30, 2022 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Short-term Corporate bonds $ 4,010 $ — $ (7) $ 4,003 Government bonds 1,970 2 — 1,972 Total $ 5,980 $ 2 $ (7) $ 5,975 Long-term Corporate bonds $ 485 $ — $ (1) $ 484 Government bonds 1,909 7 — 1,916 Total $ 2,394 $ 7 $ (1) $ 2,400 Our long-term held to maturity investments are recorded in "Other assets, net" on the Consolidated Balance Sheets. As of December 31, 2021, we had no held-to-maturity debt investment securities. Our long-term held-to-maturity investments mature in less than 2 years. Equity Investments without a Readily Determinable Fair Value —As of June 30, 2022, and December 31, 2021, we had a $3.5 million non-controlling equity investment in W.D. Von Gonten Laboratories ("WDVGL"). 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 carrying value of the investment during the six months ended June 30, 2022, or the twelve months ended December 31, 2021.

BUSINESS SEGMENTS

BUSINESS SEGMENTS	6 Months Ended
	Jun. 30, 2022
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 $ 48,827 $ 35,467 $ 7,512 $ (66) $ 91,740 Less: Freight costs 3,682 5,611 — (66) 9,227 Warehousing and handling 1,209 995 — — 2,204 Cost of goods sold 19,011 15,809 3,678 — 38,498 Gross Margin $ 24,925 $ 13,052 $ 3,834 $ — $ 41,811 Depreciation, depletion, and amortization incurred 1 $ 6,085 $ 1,042 $ 803 $ 176 $ 8,106 Six Months Ended Potash Trio ® Oilfield Solutions Other Consolidated Sales $ 105,269 $ 76,519 $ 14,512 $ (161) $ 196,139 Less: Freight costs 7,705 11,920 — (161) 19,464 Warehousing and handling 2,533 2,147 — — 4,680 Cost of goods sold 41,041 33,261 8,706 — 83,008 Gross Margin $ 53,990 $ 29,191 $ 5,806 $ — $ 88,987 Depreciation, depletion, and amortization incurred 1 $ 13,033 $ 2,050 $ 1,590 $ 411 $ 17,084 Three Months Ended Potash Trio ® Oilfield Solutions Other Consolidated Sales $ 37,693 $ 26,924 $ 3,331 $ (60) $ 67,888 Less: Freight costs 4,138 6,037 — (60) 10,115 Warehousing and handling 1,306 1,072 — — 2,378 Cost of goods sold 22,118 16,653 2,425 — 41,196 Gross Margin $ 10,131 $ 3,162 $ 906 $ — $ 14,199 Depreciation, depletion, and amortization incurred 1 $ 6,460 $ 1,376 $ 700 $ 143 $ 8,679 Six Months Ended Potash Trio ® Oilfield Solutions Other Consolidated Sales $ 81,270 $ 50,619 $ 7,584 $ (122) $ 139,351 Less: Freight costs 9,838 12,477 — (122) 22,193 Warehousing and handling 2,762 2,248 — — 5,010 Cost of goods sold 49,867 32,801 6,173 — 88,841 Gross Margin $ 18,803 $ 3,093 $ 1,411 $ — $ 23,307 Depreciation, depletion and amortization incurred 1 $ 13,637 $ 2,883 $ 1,388 $ 332 $ 18,240 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)	6 Months Ended
	Jun. 30, 2022
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, 2021.
Recently Adopted Accounting Standards	In December 2019, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes , which simplifies the accounting for income taxes by removing certain exceptions to the general principles in Topic 740 and amends existing guidance to improve consistent application. Most amendments within this standard were required to be applied on a prospective basis, while certain amendments must be applied on a retrospective or modified retrospective basis. We adopted this standard on January 1, 2021. The effect of the adoption of this standard had an immaterial impact on our condensed consolidated financial statements. Pronouncements Issued But Not Yet Adopted —In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting ("ASU 2020-04"), which provides optional exceptions to GAAP for certain transactions related to the transition away from The London Interbank Offered Rate ("LIBOR"). The amended guidance is designed to provide relief from the accounting analysis and impacts that may otherwise be required for modifications to agreements necessitated by the reference rate reform. Application of the guidance in ASU 2020-04 is optional, is only available in certain situations, and is only available for

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2022
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 Six Months Ended 2022 2021 2022 2021 Net income $ 23,708 $ 19,499 $ 55,130 $ 21,950 Basic weighted-average common shares outstanding 13,246 13,089 13,203 13,071 Add: Dilutive effect of restricted stock 209 185 245 199 Add: Dilutive effect of stock options 165 64 242 65 Diluted weighted-average common shares outstanding 13,620 13,338 13,690 13,335 Basic $ 1.79 $ 1.49 $ 4.18 $ 1.68 Diluted $ 1.74 $ 1.46 $ 4.03 $ 1.65
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 Six Months Ended 2022 2021 2022 2021 Anti-dilutive effect of restricted stock 38 96 11 80 Anti-dilutive effect of stock options outstanding — 62 — 100

CASH, CASH EQUIVALENTS AND RE_2

CASH, CASH EQUIVALENTS AND RESTRICTED CASH (Tables)	6 Months Ended
	Jun. 30, 2022
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 June 30, 2022, and 2021 (in thousands): June 30, 2022 June 30, 2021 Cash and cash equivalents $ 81,927 $ 53,250 Restricted cash included in other current assets 25 175 Restricted cash included in other long-term assets 544 519 Total cash, cash equivalents, and restricted cash as shown in the statement of cash flows $ 82,496 $ 53,944

INVENTORY AND LONG-TERM PARTS_2

INVENTORY AND LONG-TERM PARTS INVENTORY (Tables)	6 Months Ended
	Jun. 30, 2022
Inventory Disclosure [Abstract]
Summary of Inventory	The following summarizes our inventory, recorded at the lower of weighted-average cost or estimated net realizable value, as of June 30, 2022, and December 31, 2021 (in thousands): June 30, 2022 December 31, 2021 Finished goods product inventory $ 44,663 $ 42,492 In-process inventory 27,135 27,211 Total product inventory 71,798 69,703 Current parts inventory, net 10,846 9,153 Total current inventory, net 82,644 78,856 Long-term parts inventory, net 26,622 29,251 Total inventory, net $ 109,266 $ 108,107

PROPERTY, PLANT, EQUIPMENT, A_2

PROPERTY, PLANT, EQUIPMENT, AND MINERAL PROPERTIES (Tables)	6 Months Ended
	Jun. 30, 2022
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant, Equipment, and Mineral Properties	Property, plant, equipment, and mineral properties were comprised of the following (in thousands): June 30, 2022 December 31, 2021 Land $ 24,136 $ 24,136 Ponds and land improvements 71,031 69,261 Mineral properties and development costs 144,279 144,255 Buildings and plant 84,834 84,268 Machinery and equipment 280,313 272,323 Vehicles 7,340 6,855 Office equipment and improvements 9,842 8,956 Operating lease ROU assets 5,340 7,763 Breeding stock 317 308 Construction in progress 21,690 11,469 Total property, plant, equipment, and mineral properties, gross $ 649,122 $ 629,594 Less: accumulated depreciation, depletion, and amortization (301,288) (288,477) Total property, plant, equipment, and mineral properties, net $ 347,834 $ 341,117
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 June 30, Six Months Ended June 30, 2022 2021 2022 2021 Depreciation $ 7,344 $ 7,356 $ 14,532 $ 14,851 Depletion 286 721 1,430 2,196 Amortization of right of use assets 395 521 961 1,032 Total incurred $ 8,025 $ 8,598 $ 16,923 $ 18,079

DEBT (Tables)

DEBT (Tables)	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Schedule Of Interest Expense	Amounts included in interest expense, net for the three and six months ended June 30, 2022, and 2021, were as follows (in thousands): Three Months Ended Six Months Ended 2022 2021 2022 2021 Interest on debt borrowings $ 22 $ 302 $ 43 $ 667 Make-whole payments — 503 — 505 Amortization of deferred financing costs 60 126 120 194 Gross interest expense 82 931 163 1,366 Less capitalized interest (58) (13) (106) (22) Interest expense, net $ 24 $ 918 $ 57 $ 1,344

ASSET RETIREMENT OBLIGATION (Ta

ASSET RETIREMENT OBLIGATION (Tables)	6 Months Ended
	Jun. 30, 2022
Asset Retirement Obligation Disclosure [Abstract]
Schedule of Changes to Asset Retirement Obligation	Following is a table of the changes to our asset retirement obligation for the following periods (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Asset retirement obligation, at beginning of period $ 27,514 $ 24,313 $ 27,024 $ 23,872 Changes in estimated obligations — 26 — 26 Accretion of discount 490 441 980 882 Total asset retirement obligation, at end of period $ 28,004 $ 24,780 $ 28,004 $ 24,780

REVENUE (Tables)

REVENUE (Tables)	6 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Contract Balances	As of June 30, 2022, and December 31, 2021, we had $34.1 million and $33.8 million of contract liabilities, respectively, the majority of 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. See Note 14—Commitments and Contingencies below for additional information regarding our water rights. Our deferred revenue activity for the three and six months ended June 30, 2022, and 2021 is shown below (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Beginning balance $ 34,023 $ 33,842 $ 33,788 $ 30,418 Additions 241 — 590 3,972 Recognized as revenue during period (154) (211) (268) (759) Ending balance $ 34,110 $ 33,631 $ 34,110 $ 33,631
Disaggregation of Revenue	The tables below show the disaggregation of revenue by product and reconciles disaggregated revenue to segment revenue for the three and six months ended June 30, 2022, and 2021. 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 June 30, 2022 Product Potash Segment Trio ® Segment Oilfield Solutions Segment Intersegment Eliminations Total Potash $ 43,885 $ — $ — $ (66) $ 43,819 Trio ® — 34,687 — — 34,687 Water 363 724 3,692 — 4,779 Salt 2,658 56 — — 2,714 Magnesium Chloride 1,199 — — — 1,199 Brine Water 722 — 648 — 1,370 Other — — 3,172 — 3,172 Total Revenue $ 48,827 $ 35,467 $ 7,512 $ (66) $ 91,740 Six Months Ended June 30, 2022 Product Potash Segment Trio® Segment Oilfield Solutions Segment Intersegment Eliminations Total Potash $ 95,507 $ — $ — $ (161) $ 95,346 Trio ® — 74,303 — — 74,303 Water 1,137 1,926 7,880 — 10,943 Salt 5,292 290 — — 5,582 Magnesium Chloride 2,014 — — — 2,014 Brine Water 1,319 — 1,387 — 2,706 Other — — 5,245 — 5,245 Total Revenue $ 105,269 $ 76,519 $ 14,512 $ (161) $ 196,139 Three Months Ended June 30, 2021 Product Potash Segment Trio ® Segment Oilfield Solutions Segment Intersegment Eliminations Total Potash $ 32,881 $ — $ — $ (60) $ 32,821 Trio ® — 26,340 — — 26,340 Water 520 514 1,783 — 2,817 Salt 2,008 70 — — 2,078 Magnesium Chloride 1,880 — — — 1,880 Brine Water 404 — 229 — 633 Other — — 1,319 — 1,319 Total Revenue $ 37,693 $ 26,924 $ 3,331 $ (60) $ 67,888 Six Months Ended June 30, 2021 Product Potash Segment Trio ® Segment Oilfield Solutions Segment Intersegment Eliminations Total Potash $ 70,675 $ — $ — $ (122) $ 70,553 Trio ® — 48,855 — — 48,855 Water 1,679 1,498 5,125 — 8,302 Salt 4,047 266 — — 4,313 Magnesium Chloride 3,908 — — — 3,908 Brine Water 961 — 434 — 1,395 Other — — 2,025 — 2,025 Total Revenue $ 81,270 $ 50,619 $ 7,584 $ (122) $ 139,351

COMPENSATION PLANS (Tables)

COMPENSATION PLANS (Tables)	6 Months Ended
	Jun. 30, 2022
Share-based Payment Arrangement [Abstract]
Schedule of Outstanding Share Based Awards	In March 2022, the Compensation Committee granted 104,039 shares of restricted stock to executive officers and other key employees. These awards vest over three one Outstanding as of Restricted Shares 347 Non-qualified Stock Options 273

INCOME TAXES (Tables)

INCOME TAXES (Tables)	6 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Schedule of Provision of Income Taxes	A summary of our provision for income taxes is as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Current portion of income tax expense $ 148 $ — $ 287 $ — Deferred portion of income tax expense 7,941 — 16,941 — Total income tax expense $ 8,089 $ — $ 17,228 $ —

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Held-to-Maturity Investments	Held-to-Maturity Investments —As of June 30, 2022, we owned debt investment securities classified as held-to-maturity because we have the intent and ability to hold these investments to maturity. These debt securities are carried at amortized cost and consist of the following (amounts in thousands): As of June 30, 2022 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Short-term Corporate bonds $ 4,010 $ — $ (7) $ 4,003 Government bonds 1,970 2 — 1,972 Total $ 5,980 $ 2 $ (7) $ 5,975 Long-term Corporate bonds $ 485 $ — $ (1) $ 484 Government bonds 1,909 7 — 1,916 Total $ 2,394 $ 7 $ (1) $ 2,400

BUSINES SEGMENTS (Tables)

BUSINES SEGMENTS (Tables)	6 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Three Months Ended Potash Trio ® Oilfield Solutions Other Consolidated Sales $ 48,827 $ 35,467 $ 7,512 $ (66) $ 91,740 Less: Freight costs 3,682 5,611 — (66) 9,227 Warehousing and handling 1,209 995 — — 2,204 Cost of goods sold 19,011 15,809 3,678 — 38,498 Gross Margin $ 24,925 $ 13,052 $ 3,834 $ — $ 41,811 Depreciation, depletion, and amortization incurred 1 $ 6,085 $ 1,042 $ 803 $ 176 $ 8,106 Six Months Ended Potash Trio ® Oilfield Solutions Other Consolidated Sales $ 105,269 $ 76,519 $ 14,512 $ (161) $ 196,139 Less: Freight costs 7,705 11,920 — (161) 19,464 Warehousing and handling 2,533 2,147 — — 4,680 Cost of goods sold 41,041 33,261 8,706 — 83,008 Gross Margin $ 53,990 $ 29,191 $ 5,806 $ — $ 88,987 Depreciation, depletion, and amortization incurred 1 $ 13,033 $ 2,050 $ 1,590 $ 411 $ 17,084 Three Months Ended Potash Trio ® Oilfield Solutions Other Consolidated Sales $ 37,693 $ 26,924 $ 3,331 $ (60) $ 67,888 Less: Freight costs 4,138 6,037 — (60) 10,115 Warehousing and handling 1,306 1,072 — — 2,378 Cost of goods sold 22,118 16,653 2,425 — 41,196 Gross Margin $ 10,131 $ 3,162 $ 906 $ — $ 14,199 Depreciation, depletion, and amortization incurred 1 $ 6,460 $ 1,376 $ 700 $ 143 $ 8,679 Six Months Ended Potash Trio ® Oilfield Solutions Other Consolidated Sales $ 81,270 $ 50,619 $ 7,584 $ (122) $ 139,351 Less: Freight costs 9,838 12,477 — (122) 22,193 Warehousing and handling 2,762 2,248 — — 5,010 Cost of goods sold 49,867 32,801 6,173 — 88,841 Gross Margin $ 18,803 $ 3,093 $ 1,411 $ — $ 23,307 Depreciation, depletion and amortization incurred 1 $ 13,637 $ 2,883 $ 1,388 $ 332 $ 18,240 1 Depreciation, depletion, and amortization incurred for potash and Trio ® excludes depreciation, depletion and amortization amounts absorbed in or relieved from inventory.

COMPANY BACKGROUND (Narrative)

COMPANY BACKGROUND (Narrative) (Details)	6 Months Ended
	Jun. 30, 2022 segment Facility
Number of mining facilities | Facility	3
Number of reportable segments | segment	3

EARNINGS PER SHARE (Schedule of

EARNINGS PER SHARE (Schedule of Calculation of Basic and Diluted Loss or Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Earnings Per Share [Abstract]
Net income	$ 23,708	$ 19,499	$ 55,130	$ 21,950
Basic weighted average common shares outstanding (in shares)	13,246	13,089	13,203	13,071
Add: Dilutive effect of restricted stock (in shares)	209	185	245	199
Add: Dilutive effect of stock options (in shares)	165	64	242	65
Diluted weighted average common shares outstanding (in shares)	13,620	13,338	13,690	13,335
Basic (in dollars per share)	$ 1.79	$ 1.49	$ 4.18	$ 1.68
Diluted (in dollars per share)	$ 1.74	$ 1.46	$ 4.03	$ 1.65

EARNINGS PER SHARE (Schedule _2

EARNINGS PER SHARE (Schedule of Anti-Dilutive Shares) (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Restricted Shares [Member]
Anti-dilutive weighted average non-vested shares
Anti-dilutive shares (in shares)	38	96	11	80
Stock Options [Member]
Anti-dilutive weighted average non-vested shares
Anti-dilutive shares (in shares)		62		100

CASH, CASH EQUIVALENTS AND RE_3

CASH, CASH EQUIVALENTS AND RESTRICTED CASH (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2021	Dec. 31, 2020
Cash and Cash Equivalents [Abstract]
Cash and cash equivalents	$ 81,927	$ 36,452	$ 53,250
Restricted cash included in other current assets	25		175
Restricted cash included in other long-term assets	544		519
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows	$ 82,496	$ 37,146	$ 53,944	$ 20,184

INVENTORY AND LONG-TERM PARTS_3

INVENTORY AND LONG-TERM PARTS INVENTORY (Narrative) (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Allowances for obsolescence	$ 2.9	$ 3.2

INVENTORY AND LONG-TERM PARTS_4

INVENTORY AND LONG-TERM PARTS INVENTORY (Summary of Inventory) (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Inventory [Line Items]
Finished goods product inventory	$ 44,663	$ 42,492
In-process inventory	27,135	27,211
Total product inventory	71,798	69,703
Current parts inventory, net	10,846	9,153
Total current inventory, net	82,644	78,856
Long-term parts inventory, net	26,622	29,251
Total inventory, net	$ 109,266	$ 108,107

PROPERTY, PLANT, EQUIPMENT, A_3

PROPERTY, PLANT, EQUIPMENT, AND MINERAL PROPERTIES (Narrative) (Details) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
	May 31, 2021 USD ($) a	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)
Property, Plant and Equipment [Line Items]
Number of acre, land sold | a	330
Proceeds from sale of assets	$ 6,000			$ 46	$ 6,042
Gain on sale of assets	$ 2,800	$ (1,066)	$ 2,567	$ (1,166)	$ 2,565

PROPERTY, PLANT, EQUIPMENT, A_4

PROPERTY, PLANT, EQUIPMENT, AND MINERAL PROPERTIES (Schedule of Property, Plant, Equipment, and Mineral Properties) (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Total property, plant, equipment, and mineral properties, gross	$ 649,122	$ 629,594
Less: accumulated depreciation, depletion, and amortization	(301,288)	(288,477)
Total property, plant, equipment and mineral properties, net	347,834	341,117
Land [Member]
Property, Plant and Equipment [Line Items]
Total property, plant, equipment, and mineral properties, gross	24,136	24,136
Ponds and Land Improvements [Member]
Property, Plant and Equipment [Line Items]
Total property, plant, equipment, and mineral properties, gross	71,031	69,261
Mineral Properties And Development Costs [Member]
Property, Plant and Equipment [Line Items]
Total property, plant, equipment, and mineral properties, gross	144,279	144,255
Buildings and Plant [Member]
Property, Plant and Equipment [Line Items]
Total property, plant, equipment, and mineral properties, gross	84,834	84,268
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Total property, plant, equipment, and mineral properties, gross	280,313	272,323
Vehicles [Member]
Property, Plant and Equipment [Line Items]
Total property, plant, equipment, and mineral properties, gross	7,340	6,855
Office Equipment and Improvements [Member]
Property, Plant and Equipment [Line Items]
Total property, plant, equipment, and mineral properties, gross	9,842	8,956
Operating Lease ROU Assets [Member]
Property, Plant and Equipment [Line Items]
Total property, plant, equipment, and mineral properties, gross	5,340	7,763
Breeding Stock [Member]
Property, Plant and Equipment [Line Items]
Total property, plant, equipment, and mineral properties, gross	317	308
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Total property, plant, equipment, and mineral properties, gross	$ 21,690	$ 11,469

PROPERTY, PLANT, EQUIPMENT, A_5

PROPERTY, PLANT, EQUIPMENT, AND MINERAL PROPERTIES (Schedule of Depreciation, Depletion, and Accretion) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Property, Plant and Equipment [Abstract]
Depreciation	$ 7,344	$ 7,356	$ 14,532	$ 14,851
Depletion	286	721	1,430	2,196
Amortization of right of use assets	395	521	961	1,032
Total incurred	$ 8,025	$ 8,598	$ 16,923	$ 18,079

DEBT (Details)

DEBT (Details) - USD ($) $ in Thousands		1 Months Ended		3 Months Ended		6 Months Ended
	Aug. 02, 2022	Jun. 30, 2021	Apr. 30, 2020	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Debt
Interest expense				$ 82	$ 931	$ 163	$ 1,366
Gain on extinguishment of debt				0	(10,113)	0	(10,113)
Revolving Credit Facility [Member]
Debt
Proceeds from credit facility				0	0	0	0
Repayments of credit facility				0	$ 0	0	$ 0
Line of credit, outstanding				0		0		$ 0
Letters of credit outstanding, amount				1,000		1,000		$ 1,000
Credit facility, maximum borrowing capacity				$ 75,000		$ 75,000
Minimum [Member] | London Interbank Offered Rate (LIBOR) [Member] | Revolving Credit Facility [Member]
Debt
Credit facility interest margin						1.25%
Maximum [Member] | London Interbank Offered Rate (LIBOR) [Member] | Revolving Credit Facility [Member]
Debt
Credit facility interest margin						2%
Series B Senior Notes [Member]
Debt
Repayments of senior note		$ 15,000
Paycheck Protection Program Loan [Member]
Debt
Proceeds from loan			$ 10,000
Gain on extinguishment of debt		$ 10,100
Subsequent Event [Member] | Revolving Credit Facility [Member]
Debt
Credit facility, maximum borrowing capacity	$ 150,000
Debt, maturity date	Aug. 04, 2027
Subsequent Event [Member] | Minimum [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Revolving Credit Facility [Member]
Debt
Credit facility interest margin	1.50%
Subsequent Event [Member] | Maximum [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Revolving Credit Facility [Member]
Debt
Credit facility interest margin	2.25%

DEBT SCHEDULE OF INTEREST EXPEN

DEBT SCHEDULE OF INTEREST EXPENSE (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Debt Disclosure [Abstract]
Interest on debt borrowings	$ 22	$ 302	$ 43	$ 667
Make-whole payments	0	503	0	505
Amortization of deferred financing costs	60	126	120	194
Gross interest expense	82	931	163	1,366
Less capitalized interest	(58)	(13)	(106)	(22)
Interest expense, net	$ 24	$ 918	$ 57	$ 1,344

INTANGIBLE ASSETS (Details)

INTANGIBLE ASSETS (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Indefinite-lived Intangible Assets [Line Items]
Intangible assets, water rights	$ 19,184	$ 19,184
Finite-lived intangible assets, weighted average amortization period	17 years
Finite-lived intangible assets, net	$ 5,400	$ 5,600

FINANCIAL INFORMATION FOR SUB_2

FINANCIAL INFORMATION FOR SUBSIDIARY GUARANTORS OF POSSIBLE FUTURE PUBLIC DEBT (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Guarantees [Abstract]
Cash	$ 81.9	$ 36.5

ASSET RETIREMENT OBLIGATION (Na

ASSET RETIREMENT OBLIGATION (Narrative) (Details) $ in Thousands	Jun. 30, 2022 USD ($)	Mar. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Jun. 30, 2021 USD ($)	Mar. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Asset retirement obligation	$ 28,004	$ 27,514	$ 27,024	$ 24,780	$ 24,313	$ 23,872
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

ASSET RETIREMENT OBLIGATION (Sc

ASSET RETIREMENT OBLIGATION (Schedule of Changes to Asset Retirement Obligation) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Asset Retirement Obligation Disclosure [Abstract]
Asset retirement obligation, at beginning of period	$ 27,514	$ 24,313	$ 27,024	$ 23,872
Changes in estimated obligations	0	26	0	26
Accretion of discount	490	441	980	882
Total asset retirement obligation, at end of period	$ 28,004	$ 24,780	$ 28,004	$ 24,780

REVENUE (Narrative) (Details)

REVENUE (Narrative) (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Contract liabilities	$ 34,110	$ 34,023	$ 33,788	$ 33,631	$ 33,842	$ 30,418

REVENUE (Contract Balances) (De

REVENUE (Contract Balances) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Beginning balance	$ 34,023	$ 33,842	$ 33,788	$ 30,418
Additions	241	0	590	3,972
Recognized as revenue during period	(154)	(211)	(268)	(759)
Ending balance	$ 34,110	$ 33,631	$ 34,110	$ 33,631

REVENUE (Disaggregation of Reve

REVENUE (Disaggregation of Revenue) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Potash [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	$ 43,819	$ 32,821	$ 95,346	$ 70,553
Trio [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	34,687	26,340	74,303	48,855
Water [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	4,779	2,817	10,943	8,302
Salt [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	2,714	2,078	5,582	4,313
Magnesium Chloride [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	1,199	1,880	2,014	3,908
Brine Water [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	1,370	633	2,706	1,395
Other [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	3,172	1,319	5,245	2,025
Mineral [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	91,740	67,888	196,139	139,351
Potash [Member] | Potash [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	43,885	32,881	95,507	70,675
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	363	520	1,137	1,679
Potash [Member] | Salt [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	2,658	2,008	5,292	4,047
Potash [Member] | Magnesium Chloride [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	1,199	1,880	2,014	3,908
Potash [Member] | Brine Water [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	722	404	1,319	961
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	48,827	37,693	105,269	81,270
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	34,687	26,340	74,303	48,855
Trio [Member] | Water [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	724	514	1,926	1,498
Trio [Member] | Salt [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	56	70	290	266
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	35,467	26,924	76,519	50,619
Oil Field Solutions [Member] | Potash [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	0	0	0	0
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	3,692	1,783	7,880	5,125
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	648	229	1,387	434
Oil Field Solutions [Member] | Other [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	3,172	1,319	5,245	2,025
Oil Field Solutions [Member] | Mineral [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	7,512	3,331	14,512	7,584
Intersegment Eliminations [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	(66)	(60)	(161)	(122)
Intersegment Eliminations [Member] | Potash [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	(66)	(60)	(161)	(122)
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 ($) $ in Millions	1 Months Ended		3 Months Ended		6 Months Ended
	May 31, 2022	Mar. 31, 2022	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Equity Incentive Compensation Plan [Abstract]
Shares available for issuance			1,100,000		1,100,000
Restricted Stock [Abstract]
Compensation expense			$ 1.4	$ 0.8	$ 2.6	$ 1.7
Non Qualified Stock Options [Abstract]
Unrecognized compensation expense			$ 9.7		$ 9.7
Weighted average period, unrecognized compensation expense					1 year 6 months
Directors [Member] | Restricted Shares [Member]
Restricted Stock [Abstract]
Shares granted	6,635
Period over which grants vest (in years)					1 year
Key Employees | Restricted Shares [Member]
Restricted Stock [Abstract]
Shares granted		104,039
Period over which grants vest (in years)					3 years

COMPENSATION PLANS (Schedule of

COMPENSATION PLANS (Schedule of Outstanding Share Based Awards) (Details) shares in Thousands	Jun. 30, 2022 shares
Restricted Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards outstanding, restricted stock	347
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards outstanding, options	273

INCOME TAXES (Narrative) (Detai

INCOME TAXES (Narrative) (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Effective tax rate	25.40%	0%	23.80%	0%

INCOME TAXES (Schedule of Provi

INCOME TAXES (Schedule of Provision of Income Taxes) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Current portion of income tax expense	$ 148	$ 0	$ 287	$ 0
Deferred portion of income tax expense	7,941	0	16,941	0
Total income tax expense	$ 8,089	$ 0	$ 17,228	$ 0

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Narrative) (Details) $ in Millions	1 Months Ended			12 Months Ended
	Aug. 31, 2021 acre ft	Mar. 31, 2021 USD ($)	Feb. 28, 2019 acre ft	Dec. 31, 2018 acre ft	Dec. 31, 2017 acre ft	Jun. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Security placed with the State of Utah and BLM						$ 23.1	$ 23.1
Long-term restricted cash deposits						0.5	0.5
Surety bonds issued by an insurer						22.6	$ 22.6
Water Rights [Member]
Loss Contingencies [Line Items]
Pecos Water Right volume per year | acre ft			20,000
Annual water volume that had not been forfeited | acre ft	5,800
Annual water volume that had not been abandoned | acre ft	150
Preliminary authorization of annual allowable water sales, volume, cancelled | acre ft				5,700	5,700
Quarterly installment received from customer		$ 3.9
Estimated contingency						$ 32.6

FAIR VALUE (Narrative) (Details

FAIR VALUE (Narrative) (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Cash and Cash Equivalents [Abstract]
Cash equivalents	$ 1,600	$ 0
Debt Securities, Held-to-maturity, Maturity [Abstract]
Debt securities, held-to-maturity		0
Debt securities, held-to-maturity, maturity period	2 years
Equity Investment WDVGL [Member]
Equity Securities without Readily Determinable Fair Value [Line Items]
Equity securities without readily determinable fair value, amount	$ 3,500	3,500
Equity Investment Ovation [Member]
Equity Securities without Readily Determinable Fair Value [Line Items]
Equity securities without readily determinable fair value, amount committed	4,000
Equity securities without readily determinable fair value, amount	$ 3,500	$ 1,100

FAIR VALUE (Held-to-Maturity In

FAIR VALUE (Held-to-Maturity Investments) (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Schedule of Held-to-maturity Securities [Line Items]
Amortized cost, short-term	$ 5,980	$ 0
Amortized cost, long-term	2,394
Gross unrealized gains, short-term	2
Gross unrealized gains, long-term	7
Gross unrealized losses, short-term	(7)
Gross unrealized losses, long-term	(1)
Fair value, short-term	5,975
Fair value, long-term	2,400
Fair value, total		$ 0
Corporate Bonds
Schedule of Held-to-maturity Securities [Line Items]
Amortized cost, short-term	4,010
Amortized cost, long-term	485
Gross unrealized gains, short-term	0
Gross unrealized gains, long-term	0
Gross unrealized losses, short-term	(7)
Gross unrealized losses, long-term	(1)
Fair value, short-term	4,003
Fair value, long-term	484
Government Bonds
Schedule of Held-to-maturity Securities [Line Items]
Amortized cost, short-term	1,970
Amortized cost, long-term	1,909
Gross unrealized gains, short-term	2
Gross unrealized gains, long-term	7
Gross unrealized losses, short-term	0
Gross unrealized losses, long-term	0
Fair value, short-term	1,972
Fair value, long-term	$ 1,916

BUSINESS SEGMENTS (Narrative) (

BUSINESS SEGMENTS (Narrative) (Details)	6 Months Ended
	Jun. 30, 2022 segment
Segment Reporting [Abstract]
Number of reportable segments	3

BUSINESS SEGMENT (Information b

BUSINESS SEGMENT (Information by Segment) (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Segment Reporting Information [Line Items]
Gross Margin		$ 41,811	$ 14,199	$ 88,987	$ 23,307
Depreciation, depletion and amortization expense	[1]	8,106	8,679	17,084	18,240
Operating Segments [Member] | Potash [Member]
Segment Reporting Information [Line Items]
Gross Margin		24,925	10,131	53,990	18,803
Depreciation, depletion and amortization expense	[1]	6,085	6,460	13,033	13,637
Operating Segments [Member] | Trio [Member]
Segment Reporting Information [Line Items]
Gross Margin		13,052	3,162	29,191	3,093
Depreciation, depletion and amortization expense	[1]	1,042	1,376	2,050	2,883
Operating Segments [Member] | Oil Field Solutions [Member]
Segment Reporting Information [Line Items]
Gross Margin		3,834	906	5,806	1,411
Depreciation, depletion and amortization expense	[1]	803	700	1,590	1,388
Corporate/Other [Member]
Segment Reporting Information [Line Items]
Gross Margin		0	0	0	0
Depreciation, depletion and amortization expense	[1]	176	143	411	332
Freight Costs [Member]
Segment Reporting Information [Line Items]
Cost of Goods Sold		9,227	10,115	19,464	22,193
Freight Costs [Member] | Operating Segments [Member] | Potash [Member]
Segment Reporting Information [Line Items]
Cost of Goods Sold		3,682	4,138	7,705	9,838
Freight Costs [Member] | Operating Segments [Member] | Trio [Member]
Segment Reporting Information [Line Items]
Cost of Goods Sold		5,611	6,037	11,920	12,477
Freight Costs [Member] | Operating Segments [Member] | Oil Field Solutions [Member]
Segment Reporting Information [Line Items]
Cost of Goods Sold		0	0	0	0
Freight Costs [Member] | Corporate/Other [Member]
Segment Reporting Information [Line Items]
Cost of Goods Sold		(66)	(60)	(161)	(122)
Warehouse and Handling [Member]
Segment Reporting Information [Line Items]
Cost of Goods Sold		2,204	2,378	4,680	5,010
Warehouse and Handling [Member] | Operating Segments [Member] | Potash [Member]
Segment Reporting Information [Line Items]
Cost of Goods Sold		1,209	1,306	2,533	2,762
Warehouse and Handling [Member] | Operating Segments [Member] | Trio [Member]
Segment Reporting Information [Line Items]
Cost of Goods Sold		995	1,072	2,147	2,248
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		91,740	67,888	196,139	139,351
Cost of Goods Sold		38,498	41,196	83,008	88,841
Mineral [Member] | Potash [Member]
Segment Reporting Information [Line Items]
Sales		48,827	37,693	105,269	81,270
Mineral [Member] | Trio [Member]
Segment Reporting Information [Line Items]
Sales		35,467	26,924	76,519	50,619
Mineral [Member] | Oil Field Solutions [Member]
Segment Reporting Information [Line Items]
Sales		7,512	3,331	14,512	7,584
Mineral [Member] | Operating Segments [Member] | Potash [Member]
Segment Reporting Information [Line Items]
Sales		48,827	37,693	105,269	81,270
Cost of Goods Sold		19,011	22,118	41,041	49,867
Mineral [Member] | Operating Segments [Member] | Trio [Member]
Segment Reporting Information [Line Items]
Sales		35,467	26,924	76,519	50,619
Cost of Goods Sold		15,809	16,653	33,261	32,801
Mineral [Member] | Operating Segments [Member] | Oil Field Solutions [Member]
Segment Reporting Information [Line Items]
Sales		7,512	3,331	14,512	7,584
Cost of Goods Sold		3,678	2,425	8,706	6,173
Mineral [Member] | Corporate/Other [Member]
Segment Reporting Information [Line Items]
Sales		(66)	(60)	(161)	(122)
Cost of Goods Sold		$ 0	$ 0	$ 0	$ 0
[1] Depreciation, depletion, and amortization incurred for potash and Trio ® excludes depreciation, depletion and amortization amounts absorbed in or relieved from inventory.