Intrepid Potash (IPI) 10-Q 9 Nov 23 2023 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2023	Oct. 31, 2023
Document and Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
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		13,156,618
Entity Central Index Key	0001421461
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
ASSETS
Cash and cash equivalents	$ 2,791	$ 18,514
Short-term investments	3,463	5,959
Accounts receivable:
Trade, net	24,091	26,737
Other receivables, net	2,357	790
Inventory, net	108,360	114,816
Prepaid expenses and other current assets	5,546	4,863
Total current assets	146,608	171,679
Property, plant and equipment, and mineral properties, net	402,862	375,630
Water rights	19,184	19,184
Long-term parts inventory, net	25,347	24,823
Long-term investments	7,930	9,841
Other assets, net	6,864	7,294
Non-current deferred tax asset, net	183,996	185,752
Total Assets	792,791	794,203
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable	8,756	18,645
Accrued liabilities	14,523	16,212
Accrued employee compensation and benefits	8,047	6,975
Other current liabilities	6,871	7,044
Total current liabilities	38,197	48,876
Advances on credit facility	2,000	0
Asset retirement obligation, net of current portion	28,169	26,564
Operating lease liabilities	1,119	2,206
Finance lease liabilities	1,658	0
Other non-current liabilities	1,221	1,479
Total Liabilities	72,364	79,125
Commitments and Contingencies
Common stock, $0.001 par value; 40,000,000 shares authorized; 12,789,326 and 12,687,822 shares outstanding at September 30, 2023 and December 31, 2022, respectively	13	13
Additional paid-in capital	664,348	660,614
Retained earnings	78,078	76,463
Less treasury stock, at cost	(22,012)	(22,012)
Total Stockholders' Equity	720,427	715,078
Total Liabilities and Stockholders' Equity	$ 792,791	$ 794,203

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - $ / shares	Sep. 30, 2023	Dec. 31, 2022
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	12,789,326	12,687,822

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Less:
Lower of cost or net realizable value inventory adjustments	$ 3,413	$ 0	$ 3,413	$ 0
Gross Margin	491	26,770	32,225	115,757
Selling and administrative	7,685	8,551	24,491	22,558
Accretion of asset retirement obligation	535	491	1,605	1,471
Impairment of long-lived assets	521	0	521	0
Loss on sale of assets	59	10	252	1,176
Other operating expense	857	264	1,880	1,239
Operating (Loss) Income	(9,166)	17,454	3,476	89,313
Other Income (Expense)
Equity in earnings of unconsolidated entities	(54)	766	(292)	766
Interest expense, net	0	(28)	0	(85)
Interest income	88	77	249	94
Other income (expense)	19	(258)	75	281
(Loss) Income Before Income Taxes	(9,113)	18,011	3,508	90,369
Income Tax Benefit (Expense)	1,917	(4,903)	(1,893)	(22,131)
Net (Loss) Income	$ (7,196)	$ 13,108	$ 1,615	$ 68,238
Weighted Average Shares Outstanding:
Basic (in shares)	12,789	13,256	12,750	13,221
Diluted (in shares)	12,789	13,489	12,876	13,567
(Loss) Earnings Per Share:
Basic (in dollars per share)	$ (0.56)	$ 0.99	$ 0.13	$ 5.16
Diluted (in dollars per share)	$ (0.56)	$ 0.97	$ 0.13	$ 5.03
Freight Costs [Member]
Less:
Cost of Goods Sold	$ 7,909	$ 7,793	$ 30,015	$ 27,257
Warehouse and Handling [Member]
Less:
Cost of Goods Sold	2,731	2,541	8,265	7,221
Mineral [Member]
Sales	54,465	74,752	222,420	270,891
Less:
Cost of Goods Sold	$ 39,921	$ 37,648	$ 148,502	$ 120,656

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]
Balance (in shares) at Dec. 31, 2021		13,149,315
Balance at Dec. 31, 2021	$ 663,403	$ 13	$ 0	$ 659,147	$ 4,243
Net income	68,238				68,238
Stock-based compensation	3,965			3,965
Exercise of stock options	110			110
Exercise of stock options (in shares)		10,718
Purchase of treasury stock	$ (2,881)		(2,881)
Purchase of treasury stock (in shares)	(70,733)
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 Sep. 30, 2022		13,195,080
Balance at Sep. 30, 2022	728,473	$ 13	(2,881)	658,860	72,481
Balance (in shares) at Jun. 30, 2022		13,265,813
Balance at Jun. 30, 2022	716,839	$ 13		657,453	59,373
Net income	13,108				13,108
Stock-based compensation	1,407			1,407
Purchase of treasury stock	$ (2,881)		(2,881)
Purchase of treasury stock (in shares)	(70,733)
Balance (in shares) at Sep. 30, 2022		13,195,080
Balance at Sep. 30, 2022	$ 728,473	$ 13	(2,881)	658,860	72,481
Balance (in shares) at Dec. 31, 2022		12,687,822
Balance at Dec. 31, 2022	715,078	$ 13	(22,012)	660,614	76,463
Net income	1,615				1,615
Stock-based compensation	5,071			5,071
Vesting of restricted common stock, net of common stock used to fund employee income tax withholding due upon vesting (in shares)		101,504
Vesting of restricted common stock, net of common stock used to fund employee income tax withholding due upon vesting	(1,337)			(1,337)
Balance (in shares) at Sep. 30, 2023		12,789,326
Balance at Sep. 30, 2023	720,427	$ 13	(22,012)	664,348	78,078
Balance (in shares) at Jun. 30, 2023		12,789,326
Balance at Jun. 30, 2023	726,101	$ 13		662,826	85,274
Net income	(7,196)				(7,196)
Stock-based compensation	1,522			1,522
Balance (in shares) at Sep. 30, 2023		12,789,326
Balance at Sep. 30, 2023	$ 720,427	$ 13	$ (22,012)	$ 664,348	$ 78,078

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash Flows from Operating Activities:
Net (loss) income	$ 1,615	$ 68,238
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, depletion, and amortization	28,305	25,285
Accretion of asset retirement obligation	1,605	1,471
Amortization of deferred financing costs	226	187
Amortization of Intangible Assets	241	241
Stock-based compensation	5,071	3,965
Lower of cost or net realizable value inventory adjustments	3,413	0
Impairment of long-lived assets	521	0
Loss on disposal of assets	252	1,176
Allowance for doubtful accounts	110	0
Allowance for parts inventory obsolescence	140	1,750
Equity in earnings of unconsolidated entities	292	(766)
Distribution of earnings from unconsolidated entities	452	0
Changes in operating assets and liabilities:
Trade accounts receivable, net	2,536	(2,820)
Other receivables, net	(1,659)	(1,111)
Inventory, net	2,379	(15,954)
Prepaid expenses and other current assets	(898)	(1,504)
Deferred tax assets, net	1,756	21,548
Accounts payable, accrued liabilities, and accrued employee compensation and benefits	(5,216)	999
Operating lease liabilities	(1,218)	(1,619)
Other liabilities	(1,298)	(31,974)
Net cash provided by operating activities	38,625	69,112
Cash Flows from Investing Activities:
Additions to property, plant, equipment, mineral properties, and other assets	(58,484)	(37,100)
Purchase of investments	(1,415)	(12,864)
Proceeds from sale of assets	125	46
Proceeds from redemptions/maturities of investments	4,500	1,504
Other investing, net	668	0
Net cash used in investing activities	(54,606)	(48,414)
Cash Flows from Financing Activities:
Proceeds from short-term borrowings on credit facility	7,000	0
Repayments of short-term borrowings on credit facility	(5,000)	0
Payments of financing lease	(399)	0
Capitalized debt fees	0	(933)
Employee tax withholding paid for restricted stock upon vesting	(1,337)	(4,362)
Repurchases of common stock	0	(2,881)
Proceeds from exercise of stock options	0	110
Net cash provided by (used in) financing activities	264	(8,066)
Net Change in Cash, Cash Equivalents and Restricted Cash	(15,717)	12,632
Cash, Cash Equivalents, and Restricted Cash, beginning of period	19,084	37,146
Cash, Cash Equivalents, and Restricted Cash, end of period	3,367	49,778
Supplemental disclosure of cash flow information
Interest	287	66
Income taxes	295	679
Amounts included in the measurement of operating lease liabilities	1,357	1,419
Accrued purchases for property, plant, equipment, and mineral properties	3,241	7,373
Right-of-use assets exchanged for operating lease liabilities	48	1,588
Right-of-use assets exchanged for financing lease liabilities	$ 3,009	$ 0

COMPANY BACKGROUND

COMPANY BACKGROUND	9 Months Ended
	Sep. 30, 2023
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, salt, magnesium chloride, brine and various oilfield products and services. Our extraction and production operations are conducted entirely in the continental U.S. 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. See Note 14—Commitments and Contingencies below for further information regarding our water rights. We also operate certain land, water rights, state grazing leases for cattle, and other related assets in southeast New Mexico. 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. 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, 2023
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, 2022. Pronouncements Issued But Not Yet Adopted —We believe that all recently issued accounting pronouncements from the FASB either do not apply to us or will not have a material impact on our Condensed Consolidated Financial Statements.

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
	Sep. 30, 2023
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 Nine Months Ended 2023 2022 2023 2022 Net (loss) income $ (7,196) $ 13,108 $ 1,615 $ 68,238 Basic weighted-average common shares outstanding 12,789 13,256 12,750 13,221 Add: Dilutive effect of restricted stock — 143 80 223 Add: Dilutive effect of stock options — 90 46 123 Diluted weighted-average common shares outstanding 12,789 13,489 12,876 13,567 Basic $ (0.56) $ 0.99 $ 0.13 $ 5.16 Diluted $ (0.56) $ 0.97 $ 0.13 $ 5.03 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 Nine Months Ended 2023 2022 2023 2022 Anti-dilutive effect of restricted stock 372 106 213 64 Anti-dilutive effect of stock options outstanding 273 — 173 —

CASH, CASH EQUIVALENTS AND REST

CASH, CASH EQUIVALENTS AND RESTRICTED CASH	9 Months Ended
	Sep. 30, 2023
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 or 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 September 30, 2023, and 2022 (in thousands): September 30, 2023 September 30, 2022 Cash and cash equivalents $ 2,791 $ 49,209 Restricted cash included in other current assets 25 25 Restricted cash included in other long-term assets 551 544 Total cash, cash equivalents, and restricted cash as shown in the statement of cash flows $ 3,367 $ 49,778 Restricted cash included in other current and long-term assets on the condensed consolidated balance sheets represents amounts for which 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, 2023
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, 2023, and December 31, 2022 (in thousands): September 30, 2023 December 31, 2022 Finished goods product inventory $ 55,408 $ 74,777 In-process inventory 33,240 24,767 Total product inventory 88,648 99,544 Current parts inventory, net 19,712 15,272 Total current inventory, net 108,360 114,816 Long-term parts inventory, net 25,347 24,823 Total inventory, net $ 133,707 $ 139,639 Parts inventory is shown net of estimated allowances for obsolescence of $1.4 million and $1.3 million as of September 30, 2023, and December 31, 2022, respectively.

PROPERTY, PLANT, EQUIPMENT, AND

PROPERTY, PLANT, EQUIPMENT, AND MINERAL PROPERTIES	9 Months Ended
	Sep. 30, 2023
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, 2023 December 31, 2022 Land $ 24,136 $ 24,136 Ponds and land improvements 91,215 73,501 Mineral properties and development costs 161,555 146,333 Buildings and plant 90,995 89,014 Machinery and equipment 314,851 288,345 Vehicles 8,072 7,399 Office equipment and improvements 11,390 10,436 Operating lease ROU assets 5,630 5,908 Breeding stock 310 329 Construction in progress 37,958 47,188 Total property, plant, equipment, and mineral properties, gross $ 746,112 $ 692,589 Less: accumulated depreciation, depletion, and amortization (343,250) (316,959) Total property, plant, equipment, and mineral properties, net $ 402,862 $ 375,630 We own a 3.9% non-operating working interest in an oil and gas well. Because oil and gas production from the well has not met expected production, we determined the future undiscounted cash flows were unable to recover the carrying amount of our non-operating working interest in the oil and gas well. We estimated the fair value of our non-operating working interest in the oil and gas well using a discounted cash flow technique and recorded a $0.5 million impairment expense during the third quarter of 2023. 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, 2023 2022 2023 2022 Depreciation $ 9,102 $ 7,519 $ 25,156 $ 22,051 Depletion 621 459 1,968 1,889 Amortization of right of use assets 399 384 1,181 1,345 Total incurred $ 10,122 $ 8,362 $ 28,305 $ 25,285

DEBT

DEBT	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
DEBT	DEBT Revolving Credit Facility —In August 2022, we and certain of our subsidiaries entered into the Second Amended and Restated Credit Agreement with a syndicate of lenders with the Bank of Montreal, as administrative agent, which provides for a revolving credit facility. The credit agreement amended our existing revolving credit facility to, among other things, increase the amount available under the facility from $75 million to $150 million, extend the maturity date to August 4, 2027, and transition from London Interbank Offered Rate ("LIBOR") to Secured Overnight Financing Rate ("SOFR") as a reference rate for borrowings under the credit agreement. Borrowings under the amended credit facility bear interest at SOFR plus an applicable margin of 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. Borrowings under the revolving credit facility are secured by substantially all of our current and non-current assets, and 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 months ended September 30, 2023, we made $2.0 million in borrowings and made no repayments under the revolving credit facility. During the nine months ended September 30, 2023, we made $7.0 million in borrowings, and we made $5.0 million in repayments under the revolving credit facility. During the three and nine months ended September 30, 2022, we made no borrowings, and we ma de no r epayments under the revolving credit facility. As of September 30, 2023, we had $2.0 million in borrowings outstanding and no outstanding letters of credit under this facility. As of December 31, 2022, we had no borrowings outstanding and $1.0 million in outstanding letters of credit under this facility. As of September 30, 2023, we were in compliance with all applicable covenants under the revolving credit facility. Interest Expense —Interest expense is recorded net of any capitalized interest associated with investments in capital projects. We incurred gross interest expense of $0.2 million and $0.1 million for the three months ended September 30, 2023 and September 30, 2022, respectively, and $0.5 million and $0.3 million for the nine months ended September 30, 2023 and September 30, 2022, respectively. Amounts included in interest expense, net for the three and nine months ended September 30, 2023, and 2022 were as follows (in thousands): Three Months Ended Nine Months Ended 2023 2022 2023 2022 Interest expense on borrowings $ 58 $ — $ 133 $ — Commitment fee on unused credit facility 57 47 169 90 Amortization of deferred financing costs 75 67 226 187 Gross interest expense 190 114 528 277 Less capitalized interest (190) (86) (528) (192) Interest expense, net $ — $ 28 $ — $ 85

INTANGIBLE ASSETS

INTANGIBLE ASSETS	9 Months Ended
	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	INTANGIBLE ASSETS    We have water rights, recorded at $19.2 million at September 30, 2023, and December 31, 2022. Our water rights have indefinite lives and are not amortized. We evaluate our water rights at least annually as of 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 15.5 years. At September 30, 2023, and December 31, 2022, these intangible assets had a net book value of $5.0 million and $5.2 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	9 Months Ended
	Sep. 30, 2023
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 $2.8 million and $18.5 million at September 30, 2023, and December 31, 2022, 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, 2023
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 close 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 reclamation liabilities range from 6.9% to 9.7%. Revisions to the liability occur due to construction of new or expanded facilities, changes in estimated closure costs or economic lives, or to reflect new federal or state rules, regulations, or requirements regarding the closure 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, 2023 2022 2023 2022 Asset retirement obligation, at beginning of period $ 27,934 $ 28,004 $ 26,864 $ 27,024 Liabilities settled — (511) — (511) Liabilities incurred — 250 — 250 Accretion of discount 535 491 1,605 1,471 Total asset retirement obligation, at end of period $ 28,469 $ 28,234 $ 28,469 $ 28,234 Less current portion of asset retirement obligation $ (300) $ (1,029) $ (300) $ (1,029) Long-term portion of asset retirement obligation $ 28,169 $ 27,205 $ 28,169 $ 27,205 The current portion of the asset retirement obligation is included in "Other current liabilities" on the Condensed Consolidated Balance Sheet as of September 30, 2023.

REVENUE

REVENUE	9 Months Ended
	Sep. 30, 2023
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 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, 2023, and December 31, 2022, we had a total of $2.2 million and $2.4 million of contract liabilities, respectively, of which $1.0 million and $0.9 million were current as of September 30, 2023, and December 31, 2022, respectively, and included in "Other current liabilities" on the Condensed Consolidated Balance Sheets. 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). In August 2022, a customer notified us that they were terminating a water sales agreement with us. Under that agreement, the customer had prepaid us for future water deliveries. In September 2022 we refunded the customer's prepayment balance of $32.6 million. See Note 14—Commitments and Contingencies below for additional information regarding our water rights and repayment of this customer's prepayment balance. Our deferred revenue activity for the three and nine months ended September 30, 2023, and 2022 is shown below (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Beginning balance $ 2,168 $ 34,110 $ 2,374 $ 33,788 Additions 313 124 627 714 Refund of prepayments — (32,579) — (32,579) Recognized as revenue during period (291) (150) (811) (418) Ending Balance $ 2,190 $ 1,505 $ 2,190 $ 1,505 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, 2023, and 2022. 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, 2023 Product Potash Segment Trio ® Segment Oilfield Solutions Segment Intersegment Eliminations Total Potash $ 21,980 $ — $ — $ (71) $ 21,909 Trio ® — 20,605 — — 20,605 Water 48 1,368 1,133 — 2,549 Salt 2,676 57 — — 2,733 Magnesium Chloride 2,035 — — — 2,035 Brine Water 863 — 1,030 — 1,893 Other — — 2,741 — 2,741 Total Revenue $ 27,602 $ 22,030 $ 4,904 $ (71) $ 54,465 Nine Months Ended September 30, 2023 Product Potash Segment Trio® Segment Oilfield Solutions Segment Intersegment Eliminations Total Potash $ 110,241 $ — $ — $ (260) $ 109,981 Trio ® — 76,887 — — 76,887 Water 228 3,890 5,320 — 9,438 Salt 8,997 275 — — 9,272 Magnesium Chloride 4,839 — — — 4,839 Brine Water 3,058 — 2,853 — 5,911 Other — — 6,092 — 6,092 Total Revenue $ 127,363 $ 81,052 $ 14,265 $ (260) $ 222,420 Three Months Ended September 30, 2022 Product Potash Segment Trio ® Segment Oilfield Solutions Segment Intersegment Eliminations Total Potash $ 36,177 $ — $ — $ (68) $ 36,109 Trio ® — 23,158 — — 23,158 Water 427 796 5,380 — 6,603 Salt 2,845 89 — — 2,934 Magnesium Chloride 2,008 — — — 2,008 Brine Water 897 — 792 — 1,689 Other — — 2,251 — 2,251 Total Revenue $ 42,354 $ 24,043 $ 8,423 $ (68) $ 74,752 Nine Months Ended September 30, 2022 Product Potash Segment Trio ® Segment Oilfield Solutions Segment Intersegment Eliminations Total Potash $ 131,684 $ — $ — $ (228) $ 131,456 Trio ® — 97,461 — — 97,461 Water 1,564 2,722 13,260 — 17,546 Salt 8,137 378 — — 8,515 Magnesium Chloride 4,022 — — — 4,022 Brine Water 2,215 — 2,179 — 4,394 Other — — 7,497 — 7,497 Total Revenue $ 147,622 $ 100,561 $ 22,936 $ (228) $ 270,891

COMPENSATION PLANS

COMPENSATION PLANS	9 Months Ended
	Sep. 30, 2023
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 September 30, 2023, approxi mately 1.0 million s hares remained available for issuance under the Plan. In March 2023, the Compensation Committee granted an aggregate of 225,117 shares of restricted stock to executive officers and other key employees. These awards vest over three one three one As of September 30, 2023, the following awards were outstanding under the Plan (in thousands): Outstanding as of Restricted Shares 371 Non-qualified Stock Options 273 Total share-based compensation expense was $1.5 million and $1.4 million for the three months ended September 30, 2023, and 2022, respectively, and $5.1 million and $4.0 million for the nine months ended September 30, 2023, and 2022, respectively. As of September 30, 2023, we had $7.2 million of total remaining unrecognized compensation expense related to awards that is expected to be recognized over a weighted-average period of 1.3 years.

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2023
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 September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Current portion of income tax expense $ 3 $ 296 $ 137 $ 583 Deferred portion of income tax (benefit) expense (1,920) 4,607 1,756 21,548 Total income tax (benefit) expense $ (1,917) $ 4,903 $ 1,893 $ 22,131 Our effective tax rate for the three months ended September 30, 2023, was 21.0%. Our effective tax rate for the nine months ended September 30, 2023 was 54.0%. Our effective tax rate differed from the statutory rate during this period primarily from the estimated permanent difference between book and tax income for the first nine months of 2023 for the percentage depletion deduction and the officers' compensation deduction. Additionally, because small changes in projected income may produce significant variations in our estimated annual effective tax rate, we have determined that we are unable to reliably estimate an annual effective tax rate to apply to our income for the nine months ended September 30, 2023, as described in ASC 740. Therefore, we have elected to apply the actual effective tax rate for this period to our income since we believe that this is the best estimate of our annual effective tax rate. Our effective tax rate for the three and nine months ended September 30, 2022, was 27.2% and 24.5%, respectively, which differed from the statutory rate primarily from the estimated

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Reclamation Deposits and Surety Bonds —As of September 30, 2023, and December 31, 2022, we had $26.8 million and $24.6 million, respectively, of security placed principally with the State of Utah and the Bureau of Land Management ("BLM") for eventual reclamation of our various facilities. As of September 30, 2023, $0.5 million consisted of long-term restricted cash deposits and $26.3 million was secured by surety bonds issued by an insurer. As of December 31, 2022, $0.5 million consisted of long-term restricted cash deposits and $24.1 million was secured by surety bonds issued by an insurer. The restricted cash deposits are included in "Other assets, net" on the condensed consolidated balance sheets and the surety bonds are held in place by an annual fee paid to the issuer. We may be required to post additional security to fund future reclamation obligations as reclamation plans are updated or as statutory and regulatory requirements change. Legal —We are subject to claims and legal actions in the ordinary course of business. We expense legal costs as they are 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 and Other Legal Contingencies 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 of surface water 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 to the New Mexico Court of Appeals. On October 18, 2023, the New Mexico Court of Appeals issued a decision affirming the adjudication court's ruling. We are evaluating our options in response to the Court of Appeals opinion. We plan on filing a petition for certiorari to the New Mexico Supreme Court, which will seek review of the Court of Appeals decision. The New Mexico Supreme Court has discretion whether to accept the petition for certiorari; if it is not accepted, the New Mexico Court of Appeals' decision will be final. In 2017 and 2018 the New Mexico Office of the State Engineer ("OSE") 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. If the New Mexico Court of Appeals' decision is ultimately affirmed, we may have to repay for the water we sold under the preliminary and emergency authorizations. Repayment of this water can be up to two times the amount of water removed from the 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 Condensed Consolidated 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 continued 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 had no obligation to deliver water and our customer had no obligation to take water, if available, or make quarterly payments to us. In August 2022, the customer notified us that they were terminating the long-term sales contract and in September 2022, we refunded the $32.6 million outstanding contract liability we had with this customer. See Note 11—Revenue above for additional information.

FAIR VALUE

FAIR VALUE	9 Months Ended
	Sep. 30, 2023
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, investment securities, 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 nature of these instruments. Cash Equivalents —As of September 30, 2023, we had no cash equivalents. As of December 31, 2022, we had cash equivalents of $1.7 million. Held-to-Maturity Investments —As of September 30, 2023, and December 31, 2022, we owned debt investment securities classified as held-to-maturity because we have the intent and ability to hold these investments to maturity. Our held-to-maturity debt investment securities consist of investment grade corporate bonds and U.S. government issued bonds. These debt securities are carried at amortized cost and consist of the following (amounts in thousands): As of September 30, 2023 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Short-term Corporate bonds $ 1,499 $ — $ (8) $ 1,491 Government bonds 1,964 — (21) 1,943 Total $ 3,463 $ — $ (29) $ 3,434 Long-term Corporate bonds $ 489 $ — $ (8) $ 481 Government bonds 1,447 — (19) 1,428 Total $ 1,936 $ — $ (27) $ 1,909 As of December 31, 2022 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Short-term Corporate bonds $ 3,992 $ — $ (24) $ 3,968 Government bonds 1,967 — (18) 1,949 Total $ 5,959 $ — $ (42) $ 5,917 Long-term Corporate bonds $ 499 $ — $ (10) $ 489 Government bonds 1,935 — (26) 1,909 Total $ 2,434 $ — $ (36) $ 2,398 Our long-term held to maturity investments are recorded in "Long-term investments" on the Condensed Consolidated Balance Sheets. As of September 30, 2023 and December 31, 2022, we had $5.4 million and $8.4 million in held-to-maturity debt investment securities, respectively. As of September 30, 2023, our long-term held-to-maturity investments mature in less than 2 years. Equity Investments without a Readily Determinable Fair Value —In May 2020, we acquired a non-controlling equity investment in W.D. Von Gonten Laboratories ("WDVGL") for $3.5 million. We account for this investment as an equity investment without a readily determinable fair value and elected to measure our investment, as permitted by GAAP, at cost plus or minus any adjustments for observable changes in prices resulting from orderly transactions for the identical or a similar investment of the same issuer or impairment. As of September 30, 2023, and December 31, 2022, we had not recorded any adjustments to the carrying value of this investment since the purchase in May 2020. We include this investment in "Long-term investments" on the Condensed Consolidated Balance Sheets. In July 2022, WDVGL entered into a purchase agreement with another company (“Acquiror”), a foreign issuer whose shares are traded on the Nasdaq Capital Market (“Nasdaq”). Under the terms of the purchase agreement, WDVGL would be combined with the consulting business owned by W.D. Von Gonten (“Consulting”) to form a new entity, W.D. Von Gonten Engineering, LLC (“Engineering”), and Acquiror would then purchase Engineering in a majority stock transaction at an agreed upon selling price. Acquiror delivered equity shares and a nominal amount of cash to WDVGL for purchase of Engineering in July 2022, with the number of shares equal to the selling price divided by an assumed $10 share price. Under the terms of the purchase agreement, if Acquiror was current in its SEC filing on June 30, 2023, the actual number of shares to be delivered as part of the purchase price would be adjusted to equal the agreed upon purchase price divided by the average closing price of Acquiror’s stock for the ten trading days prior to June 30, 2023, and the stock received from the sale of Engineering would be distributed to the investors in WDVGL and Consulting. In March 2022, Acquiror disclosed that it had discovered errors in its financ ial statements for the fiscal years ended December 31, 2018, 2019 and 2020, and was working to file restated financial statements with the SEC. On A pril 27, 2023, Acquiror disclosed it had not been able to file its Annual Report on Form 20-F for the fiscal year ended December 31, 2021 with the SEC by April 25, 2023, which was the deadline set by the Nasdaq Hearings Panel in connection with a delisting proceeding, and Acquiror’s shares were subsequently delisted from Nasdaq. Acquiror also disclosed on April 27, 2023 that it has shifted its focus to filing audited financial statements with the SEC for the fiscal years ended December 31, 2020, 2021 and 2022 to regain compliance with Nasdaq listing standards before the end of 2023. Pursuant to the purchase agreement with Engineering, if the Acquiror did not file current financial statements with the SEC by June 30, 2023, Engineering had the option to terminate the purchase agreement, beginning on July 1, 2023. Although Acquiror did not file current financial statements by June 30, 2023, Engineering intends to proceed with the purchase agreement and allow Acquiror additional time to file updated financial statements. We have not impaired our investment in WDVGL because our share of the estimated selling price exceeds the carrying value of our investment in WDVGL. We will continue to monitor the investment for impairment. If Acquiror is unable to file restated financial statements by the end of 2023 and the purchase transaction is not finalized, we may need to impair our investment in WDVGL. Equity Method Investments —We have committed to invest up to $4.0 million in cash as a limited partner for a 16% interest in PEP Ovation, LP ("Ovation"), of which we had invested $3.2 million of cash as of September 30, 2023, and December 31, 2022. This investment is accounted for under the equity method whereby we recognize our proportional share of the income or loss from our investment in Ovation on a one-quarter lag. This investment is included in "Long-term investments" on the Condensed Consolidated Balance Sheets. For the three and nine months ended September 30, 2023, our proportional share of Ovation's net loss was $0.1 million and $0.3 million, respectively.

BUSINESS SEGMENTS

BUSINESS SEGMENTS	9 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
BUSINESS SEGMENTS	BUSINESS SEGMENTS Our operations are organized into three segments: potash, Trio ® and oilfield solutions. We determine reportable segments 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. Segment gross margins are reconciled to consolidated gross margins in the tables below. To reconcile segment gross margins to consolidated income before taxes, consolidated operating expense amounts and consolidated other income and expense amounts, expenses are subtracted from and income is added to consolidated gross margin to arrive at consolidated income before taxes, as shown on the statement of operations. 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 $ 27,602 $ 22,030 $ 4,904 $ (71) $ 54,465 Less: Freight costs 2,894 5,086 — (71) 7,909 Warehousing and handling 1,541 1,190 — — 2,731 Cost of goods sold 18,673 17,714 3,534 — 39,921 Lower of cost or net 1,083 2,330 — — 3,413 Gross Margin (Deficit) $ 3,411 $ (4,290) $ 1,370 $ — $ 491 Depreciation, depletion, and amortization incurred 1 $ 7,272 $ 1,754 $ 950 $ 226 $ 10,202 Nine Months Ended Potash Trio ® Oilfield Solutions Other Consolidated Sales $ 127,363 $ 81,052 $ 14,265 $ (260) $ 222,420 Less: Freight costs 12,237 18,038 — (260) 30,015 Warehousing and handling 4,630 3,635 — — 8,265 Cost of goods sold 78,697 58,666 11,139 — 148,502 Lower of cost or net 1,083 2,330 — — 3,413 Gross Margin (Deficit) $ 30,716 $ (1,617) $ 3,126 $ — $ 32,225 Depreciation, depletion, and amortization incurred 1 $ 20,753 $ 4,365 $ 2,772 $ 656 $ 28,546 Three Months Ended Potash Trio ® Oilfield Solutions Other Consolidated Sales $ 42,354 $ 24,043 $ 8,423 $ (68) $ 74,752 Less: Freight costs 3,726 4,135 — (68) 7,793 Warehousing and handling 1,414 1,127 — — 2,541 Cost of goods sold 17,342 12,278 8,028 — 37,648 Gross Margin $ 19,872 $ 6,503 $ 395 $ — $ 26,770 Depreciation, depletion, and amortization incurred 1 $ 6,318 $ 1,072 $ 867 $ 185 $ 8,442 Nine Months Ended Potash Trio ® Oilfield Solutions Other Consolidated Sales $ 147,622 $ 100,561 $ 22,936 $ (228) $ 270,891 Less: Freight costs 11,430 16,055 — (228) 27,257 Warehousing and handling 3,947 3,274 — — 7,221 Cost of goods sold 58,383 45,538 16,735 — 120,656 Gross Margin $ 73,862 $ 35,694 $ 6,201 $ — $ 115,757 Depreciation, depletion and amortization incurred 1 $ 19,350 $ 3,122 $ 2,458 $ 596 $ 25,526 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, 2023
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, 2022.
Recently Adopted Accounting Standards	We believe that all recently issued accounting pronouncements from the FASB either do not apply to us or will not have a material impact on our Condensed Consolidated Financial Statements.
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 in exchange for those goods or services. The timing of revenue recognition, billings, and cash collection may result in contract assets or contract liabilities.

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Schedule of Calculation of Basic and Diluted 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 Nine Months Ended 2023 2022 2023 2022 Net (loss) income $ (7,196) $ 13,108 $ 1,615 $ 68,238 Basic weighted-average common shares outstanding 12,789 13,256 12,750 13,221 Add: Dilutive effect of restricted stock — 143 80 223 Add: Dilutive effect of stock options — 90 46 123 Diluted weighted-average common shares outstanding 12,789 13,489 12,876 13,567 Basic $ (0.56) $ 0.99 $ 0.13 $ 5.16 Diluted $ (0.56) $ 0.97 $ 0.13 $ 5.03
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 Nine Months Ended 2023 2022 2023 2022 Anti-dilutive effect of restricted stock 372 106 213 64 Anti-dilutive effect of stock options outstanding 273 — 173 —

CASH, CASH EQUIVALENTS AND RE_2

CASH, CASH EQUIVALENTS AND RESTRICTED CASH (Tables)	9 Months Ended
	Sep. 30, 2023
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, 2023, and 2022 (in thousands): September 30, 2023 September 30, 2022 Cash and cash equivalents $ 2,791 $ 49,209 Restricted cash included in other current assets 25 25 Restricted cash included in other long-term assets 551 544 Total cash, cash equivalents, and restricted cash as shown in the statement of cash flows $ 3,367 $ 49,778

INVENTORY AND LONG-TERM PARTS_2

INVENTORY AND LONG-TERM PARTS INVENTORY (Tables)	9 Months Ended
	Sep. 30, 2023
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, 2023, and December 31, 2022 (in thousands): September 30, 2023 December 31, 2022 Finished goods product inventory $ 55,408 $ 74,777 In-process inventory 33,240 24,767 Total product inventory 88,648 99,544 Current parts inventory, net 19,712 15,272 Total current inventory, net 108,360 114,816 Long-term parts inventory, net 25,347 24,823 Total inventory, net $ 133,707 $ 139,639

PROPERTY, PLANT, EQUIPMENT, A_2

PROPERTY, PLANT, EQUIPMENT, AND MINERAL PROPERTIES (Tables)	9 Months Ended
	Sep. 30, 2023
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, 2023 December 31, 2022 Land $ 24,136 $ 24,136 Ponds and land improvements 91,215 73,501 Mineral properties and development costs 161,555 146,333 Buildings and plant 90,995 89,014 Machinery and equipment 314,851 288,345 Vehicles 8,072 7,399 Office equipment and improvements 11,390 10,436 Operating lease ROU assets 5,630 5,908 Breeding stock 310 329 Construction in progress 37,958 47,188 Total property, plant, equipment, and mineral properties, gross $ 746,112 $ 692,589 Less: accumulated depreciation, depletion, and amortization (343,250) (316,959) Total property, plant, equipment, and mineral properties, net $ 402,862 $ 375,630
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, 2023 2022 2023 2022 Depreciation $ 9,102 $ 7,519 $ 25,156 $ 22,051 Depletion 621 459 1,968 1,889 Amortization of right of use assets 399 384 1,181 1,345 Total incurred $ 10,122 $ 8,362 $ 28,305 $ 25,285

DEBT (Tables)

DEBT (Tables)	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Schedule Of Interest Expense	Amounts included in interest expense, net for the three and nine months ended September 30, 2023, and 2022 were as follows (in thousands): Three Months Ended Nine Months Ended 2023 2022 2023 2022 Interest expense on borrowings $ 58 $ — $ 133 $ — Commitment fee on unused credit facility 57 47 169 90 Amortization of deferred financing costs 75 67 226 187 Gross interest expense 190 114 528 277 Less capitalized interest (190) (86) (528) (192) Interest expense, net $ — $ 28 $ — $ 85

ASSET RETIREMENT OBLIGATION (Ta

ASSET RETIREMENT OBLIGATION (Tables)	9 Months Ended
	Sep. 30, 2023
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, 2023 2022 2023 2022 Asset retirement obligation, at beginning of period $ 27,934 $ 28,004 $ 26,864 $ 27,024 Liabilities settled — (511) — (511) Liabilities incurred — 250 — 250 Accretion of discount 535 491 1,605 1,471 Total asset retirement obligation, at end of period $ 28,469 $ 28,234 $ 28,469 $ 28,234 Less current portion of asset retirement obligation $ (300) $ (1,029) $ (300) $ (1,029) Long-term portion of asset retirement obligation $ 28,169 $ 27,205 $ 28,169 $ 27,205

REVENUE (Tables)

REVENUE (Tables)	9 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Contract Balances	As of September 30, 2023, and December 31, 2022, we had a total of $2.2 million and $2.4 million of contract liabilities, respectively, of which $1.0 million and $0.9 million were current as of September 30, 2023, and December 31, 2022, respectively, and included in "Other current liabilities" on the Condensed Consolidated Balance Sheets. 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). In August 2022, a customer notified us that they were terminating a water sales agreement with us. Under that agreement, the customer had prepaid us for future water deliveries. In September 2022 we refunded the customer's prepayment balance of $32.6 million. See Note 14—Commitments and Contingencies below for additional information regarding our water rights and repayment of this customer's prepayment balance. Our deferred revenue activity for the three and nine months ended September 30, 2023, and 2022 is shown below (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Beginning balance $ 2,168 $ 34,110 $ 2,374 $ 33,788 Additions 313 124 627 714 Refund of prepayments — (32,579) — (32,579) Recognized as revenue during period (291) (150) (811) (418) Ending Balance $ 2,190 $ 1,505 $ 2,190 $ 1,505
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, 2023, and 2022. 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, 2023 Product Potash Segment Trio ® Segment Oilfield Solutions Segment Intersegment Eliminations Total Potash $ 21,980 $ — $ — $ (71) $ 21,909 Trio ® — 20,605 — — 20,605 Water 48 1,368 1,133 — 2,549 Salt 2,676 57 — — 2,733 Magnesium Chloride 2,035 — — — 2,035 Brine Water 863 — 1,030 — 1,893 Other — — 2,741 — 2,741 Total Revenue $ 27,602 $ 22,030 $ 4,904 $ (71) $ 54,465 Nine Months Ended September 30, 2023 Product Potash Segment Trio® Segment Oilfield Solutions Segment Intersegment Eliminations Total Potash $ 110,241 $ — $ — $ (260) $ 109,981 Trio ® — 76,887 — — 76,887 Water 228 3,890 5,320 — 9,438 Salt 8,997 275 — — 9,272 Magnesium Chloride 4,839 — — — 4,839 Brine Water 3,058 — 2,853 — 5,911 Other — — 6,092 — 6,092 Total Revenue $ 127,363 $ 81,052 $ 14,265 $ (260) $ 222,420 Three Months Ended September 30, 2022 Product Potash Segment Trio ® Segment Oilfield Solutions Segment Intersegment Eliminations Total Potash $ 36,177 $ — $ — $ (68) $ 36,109 Trio ® — 23,158 — — 23,158 Water 427 796 5,380 — 6,603 Salt 2,845 89 — — 2,934 Magnesium Chloride 2,008 — — — 2,008 Brine Water 897 — 792 — 1,689 Other — — 2,251 — 2,251 Total Revenue $ 42,354 $ 24,043 $ 8,423 $ (68) $ 74,752 Nine Months Ended September 30, 2022 Product Potash Segment Trio ® Segment Oilfield Solutions Segment Intersegment Eliminations Total Potash $ 131,684 $ — $ — $ (228) $ 131,456 Trio ® — 97,461 — — 97,461 Water 1,564 2,722 13,260 — 17,546 Salt 8,137 378 — — 8,515 Magnesium Chloride 4,022 — — — 4,022 Brine Water 2,215 — 2,179 — 4,394 Other — — 7,497 — 7,497 Total Revenue $ 147,622 $ 100,561 $ 22,936 $ (228) $ 270,891

COMPENSATION PLANS (Tables)

COMPENSATION PLANS (Tables)	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Outstanding Share Based Awards	In March 2023, the Compensation Committee granted an aggregate of 225,117 shares of restricted stock to executive officers and other key employees. These awards vest over three one three one As of September 30, 2023, the following awards were outstanding under the Plan (in thousands): Outstanding as of Restricted Shares 371 Non-qualified Stock Options 273

INCOME TAXES (Tables)

INCOME TAXES (Tables)	9 Months Ended
	Sep. 30, 2023
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 September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Current portion of income tax expense $ 3 $ 296 $ 137 $ 583 Deferred portion of income tax (benefit) expense (1,920) 4,607 1,756 21,548 Total income tax (benefit) expense $ (1,917) $ 4,903 $ 1,893 $ 22,131

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Held-to-Maturity Investments	Held-to-Maturity Investments —As of September 30, 2023, and December 31, 2022, we owned debt investment securities classified as held-to-maturity because we have the intent and ability to hold these investments to maturity. Our held-to-maturity debt investment securities consist of investment grade corporate bonds and U.S. government issued bonds. These debt securities are carried at amortized cost and consist of the following (amounts in thousands): As of September 30, 2023 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Short-term Corporate bonds $ 1,499 $ — $ (8) $ 1,491 Government bonds 1,964 — (21) 1,943 Total $ 3,463 $ — $ (29) $ 3,434 Long-term Corporate bonds $ 489 $ — $ (8) $ 481 Government bonds 1,447 — (19) 1,428 Total $ 1,936 $ — $ (27) $ 1,909 As of December 31, 2022 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Short-term Corporate bonds $ 3,992 $ — $ (24) $ 3,968 Government bonds 1,967 — (18) 1,949 Total $ 5,959 $ — $ (42) $ 5,917 Long-term Corporate bonds $ 499 $ — $ (10) $ 489 Government bonds 1,935 — (26) 1,909 Total $ 2,434 $ — $ (36) $ 2,398

BUSINES SEGMENTS (Tables)

BUSINES SEGMENTS (Tables)	9 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Three Months Ended Potash Trio ® Oilfield Solutions Other Consolidated Sales $ 27,602 $ 22,030 $ 4,904 $ (71) $ 54,465 Less: Freight costs 2,894 5,086 — (71) 7,909 Warehousing and handling 1,541 1,190 — — 2,731 Cost of goods sold 18,673 17,714 3,534 — 39,921 Lower of cost or net 1,083 2,330 — — 3,413 Gross Margin (Deficit) $ 3,411 $ (4,290) $ 1,370 $ — $ 491 Depreciation, depletion, and amortization incurred 1 $ 7,272 $ 1,754 $ 950 $ 226 $ 10,202 Nine Months Ended Potash Trio ® Oilfield Solutions Other Consolidated Sales $ 127,363 $ 81,052 $ 14,265 $ (260) $ 222,420 Less: Freight costs 12,237 18,038 — (260) 30,015 Warehousing and handling 4,630 3,635 — — 8,265 Cost of goods sold 78,697 58,666 11,139 — 148,502 Lower of cost or net 1,083 2,330 — — 3,413 Gross Margin (Deficit) $ 30,716 $ (1,617) $ 3,126 $ — $ 32,225 Depreciation, depletion, and amortization incurred 1 $ 20,753 $ 4,365 $ 2,772 $ 656 $ 28,546 Three Months Ended Potash Trio ® Oilfield Solutions Other Consolidated Sales $ 42,354 $ 24,043 $ 8,423 $ (68) $ 74,752 Less: Freight costs 3,726 4,135 — (68) 7,793 Warehousing and handling 1,414 1,127 — — 2,541 Cost of goods sold 17,342 12,278 8,028 — 37,648 Gross Margin $ 19,872 $ 6,503 $ 395 $ — $ 26,770 Depreciation, depletion, and amortization incurred 1 $ 6,318 $ 1,072 $ 867 $ 185 $ 8,442 Nine Months Ended Potash Trio ® Oilfield Solutions Other Consolidated Sales $ 147,622 $ 100,561 $ 22,936 $ (228) $ 270,891 Less: Freight costs 11,430 16,055 — (228) 27,257 Warehousing and handling 3,947 3,274 — — 7,221 Cost of goods sold 58,383 45,538 16,735 — 120,656 Gross Margin $ 73,862 $ 35,694 $ 6,201 $ — $ 115,757 Depreciation, depletion and amortization incurred 1 $ 19,350 $ 3,122 $ 2,458 $ 596 $ 25,526 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, 2023 nutrient Facility segment
Number of mining facilities | Facility	3
Number of reportable segments | segment	3
Number of key nutrients | nutrient	3

EARNINGS PER SHARE (Schedule of

EARNINGS PER SHARE (Schedule of Calculation of Basic and Diluted Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Earnings Per Share [Abstract]
Net (loss) income	$ (7,196)	$ 13,108	$ 1,615	$ 68,238
Basic weighted average common shares outstanding (in shares)	12,789	13,256	12,750	13,221
Add: Dilutive effect of restricted stock (in shares)	0	143	80	223
Add: Dilutive effect of stock options (in shares)	0	90	46	123
Diluted weighted average common shares outstanding (in shares)	12,789	13,489	12,876	13,567
Basic (in dollars per share)	$ (0.56)	$ 0.99	$ 0.13	$ 5.16
Diluted (in dollars per share)	$ (0.56)	$ 0.97	$ 0.13	$ 5.03

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, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Restricted Stock [Member]
Anti-dilutive weighted average non-vested shares
Anti-dilutive shares (in shares)	372	106	213	64
Stock Options [Member]
Anti-dilutive weighted average non-vested shares
Anti-dilutive shares (in shares)	273		173

CASH, CASH EQUIVALENTS AND RE_3

CASH, CASH EQUIVALENTS AND RESTRICTED CASH (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	Dec. 31, 2021
Cash and Cash Equivalents [Abstract]
Cash and cash equivalents	$ 2,791	$ 18,514	$ 49,209
Restricted cash included in other current assets	25		25
Restricted cash included in other long-term assets	551		544
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows	$ 3,367	$ 19,084	$ 49,778	$ 37,146

INVENTORY AND LONG-TERM PARTS_3

INVENTORY AND LONG-TERM PARTS INVENTORY (Narrative) (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Allowances for obsolescence	$ 1.4	$ 1.3

INVENTORY AND LONG-TERM PARTS_4

INVENTORY AND LONG-TERM PARTS INVENTORY (Summary of Inventory) (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Inventory [Line Items]
Finished goods product inventory	$ 55,408	$ 74,777
In-process inventory	33,240	24,767
Total product inventory	88,648	99,544
Current parts inventory, net	19,712	15,272
Total current inventory, net	108,360	114,816
Long-term parts inventory, net	25,347	24,823
Total inventory, net	$ 133,707	$ 139,639

PROPERTY, PLANT, EQUIPMENT, A_3

PROPERTY, PLANT, EQUIPMENT, AND MINERAL PROPERTIES (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Property, Plant and Equipment [Line Items]
Impairment of long-lived assets	$ 521	$ 0	$ 521	$ 0
Non-operating working interest in oil and gas well	3.90%		3.90%

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, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Total property, plant, equipment, and mineral properties, gross	$ 746,112	$ 692,589
Less: accumulated depreciation, depletion, and amortization	(343,250)	(316,959)
Total property, plant, equipment and mineral properties, net	402,862	375,630
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	91,215	73,501
Mineral Properties And Development Costs [Member]
Property, Plant and Equipment [Line Items]
Total property, plant, equipment, and mineral properties, gross	161,555	146,333
Buildings and Plant [Member]
Property, Plant and Equipment [Line Items]
Total property, plant, equipment, and mineral properties, gross	90,995	89,014
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Total property, plant, equipment, and mineral properties, gross	314,851	288,345
Vehicles [Member]
Property, Plant and Equipment [Line Items]
Total property, plant, equipment, and mineral properties, gross	8,072	7,399
Office Equipment and Improvements [Member]
Property, Plant and Equipment [Line Items]
Total property, plant, equipment, and mineral properties, gross	11,390	10,436
Operating Lease ROU Assets [Member]
Property, Plant and Equipment [Line Items]
Total property, plant, equipment, and mineral properties, gross	5,630	5,908
Breeding Stock [Member]
Property, Plant and Equipment [Line Items]
Total property, plant, equipment, and mineral properties, gross	310	329
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Total property, plant, equipment, and mineral properties, gross	$ 37,958	$ 47,188

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, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Property, Plant and Equipment [Abstract]
Depreciation	$ 9,102	$ 7,519	$ 25,156	$ 22,051
Depletion	621	459	1,968	1,889
Amortization of right of use assets	399	384	1,181	1,345
Total incurred	$ 10,122	$ 8,362	$ 28,305	$ 25,285

DEBT (Details)

DEBT (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
	Aug. 02, 2022	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022	Jul. 31, 2022
Debt
Proceeds from short-term borrowings on credit facility				$ 7,000	$ 0
Repayments of credit facility				5,000	0
Interest expense		$ 190	$ 114	528	277
Revolving Credit Facility [Member]
Debt
Proceeds from short-term borrowings on credit facility		2,000	0	7,000	0
Repayments of credit facility		0	$ 0	5,000	$ 0
Line of credit, outstanding		2,000		2,000		$ 0
Letters of credit outstanding, amount		$ 0		$ 0		$ 1,000
Credit facility, maximum borrowing capacity	$ 150,000						$ 75,000
Debt, maturity date	Aug. 04, 2027
Minimum [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Revolving Credit Facility [Member]
Debt
Credit facility interest margin	1.50%
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		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Debt Disclosure [Abstract]
Interest expense on borrowings	$ 58	$ 0	$ 133	$ 0
Commitment fee on unused credit facility	57	47	169	90
Amortization of deferred financing costs	75	67	226	187
Gross interest expense	190	114	528	277
Less capitalized interest	(190)	(86)	(528)	(192)
Interest expense, net	$ 0	$ 28	$ 0	$ 85

INTANGIBLE ASSETS (Details)

INTANGIBLE ASSETS (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Indefinite-lived Intangible Assets [Line Items]
Intangible assets, water rights	$ 19,184	$ 19,184
Finite-lived intangible assets, weighted average amortization period	15 years 6 months
Finite-lived intangible assets, net	$ 5,000	$ 5,200

FINANCIAL INFORMATION FOR SUB_2

FINANCIAL INFORMATION FOR SUBSIDIARY GUARANTORS OF POSSIBLE FUTURE PUBLIC DEBT (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Guarantees [Abstract]
Cash	$ 2.8	$ 18.5

ASSET RETIREMENT OBLIGATION (Na

ASSET RETIREMENT OBLIGATION (Narrative) (Details) - Measurement Input, Risk Free Interest Rate [Member]	Sep. 30, 2023
Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit adjusted risk-free rates used to discount reclamation Liabilities	0.069
Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit adjusted risk-free rates used to discount reclamation 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, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Asset Retirement Obligation Disclosure [Abstract]
Asset retirement obligation, at beginning of period	$ 27,934	$ 28,004	$ 26,864	$ 27,024
Liabilities settled	0	(511)	0	(511)
Liabilities incurred	0	250	0	250
Accretion of discount	535	491	1,605	1,471
Total asset retirement obligation, at end of period	28,469	28,234	28,469	28,234	$ 26,864
Less current portion of asset retirement obligation	(300)	(1,029)	(300)	(1,029)
Long-term portion of asset retirement obligation	$ 28,169	$ 27,205	$ 28,169	$ 27,205	$ 26,564

REVENUE (Narrative) (Details)

REVENUE (Narrative) (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Contract with customer, liability	$ 1,505	$ 2,190	$ 1,505	$ 2,190	$ 1,505	$ 2,168	$ 2,374	$ 34,110	$ 33,788
Contract liabilities, current		1,000		1,000			$ 900
Refund of prepayments	$ 32,600	$ 0	$ 32,579	$ 0	$ 32,579

REVENUE (Contract Balances) (De

REVENUE (Contract Balances) (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Beginning Balance		$ 2,168	$ 34,110	$ 2,374	$ 33,788
Additions		313	124	627	714
Refund of prepayments	$ (32,600)	0	(32,579)	0	(32,579)
Recognized as revenue during period		(291)	(150)	(811)	(418)
Ending Balance	$ 1,505	$ 2,190	$ 1,505	$ 2,190	$ 1,505

REVENUE (Disaggregation of Reve

REVENUE (Disaggregation of Revenue) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Potash [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	$ 21,909	$ 36,109	$ 109,981	$ 131,456
Trio [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	20,605	23,158	76,887	97,461
Water [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	2,549	6,603	9,438	17,546
Salt [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	2,733	2,934	9,272	8,515
Magnesium Chloride [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	2,035	2,008	4,839	4,022
Brine Water [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	1,893	1,689	5,911	4,394
Other [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	2,741	2,251	6,092	7,497
Mineral [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	54,465	74,752	222,420	270,891
Potash [Member] | Potash [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	21,980	36,177	110,241	131,684
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	48	427	228	1,564
Potash [Member] | Salt [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	2,676	2,845	8,997	8,137
Potash [Member] | Magnesium Chloride [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	2,035	2,008	4,839	4,022
Potash [Member] | Brine Water [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	863	897	3,058	2,215
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	27,602	42,354	127,363	147,622
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	20,605	23,158	76,887	97,461
Trio [Member] | Water [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	1,368	796	3,890	2,722
Trio [Member] | Salt [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	57	89	275	378
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	22,030	24,043	81,052	100,561
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	1,133	5,380	5,320	13,260
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	1,030	792	2,853	2,179
Oil Field Solutions [Member] | Other [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	2,741	2,251	6,092	7,497
Oil Field Solutions [Member] | Mineral [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	4,904	8,423	14,265	22,936
Intersegment Eliminations [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	(71)	(68)	(260)	(228)
Intersegment Eliminations [Member] | Potash [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	(71)	(68)	(260)	(228)
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		9 Months Ended
	May 31, 2023	Mar. 31, 2023	May 31, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Equity Incentive Compensation Plan [Abstract]
Shares available for issuance					1,000,000		1,000,000
Restricted Stock [Abstract]
Compensation expense					$ 1.5	$ 1.4	$ 5.1	$ 4
Unrecognized compensation expense					$ 7.2		$ 7.2
Weighted average period, unrecognized compensation expense							1 year 3 months 18 days
Directors [Member] | Restricted Stock [Member]
Restricted Stock [Abstract]
Shares granted	22,226		6,635
Period over which grants vest (in years)	1 year		1 year
Executive Officers And Other Key Employees | Restricted Stock [Member]
Restricted Stock [Abstract]
Shares granted		225,117		104,039
Period over which grants vest (in years)		3 years		3 years

COMPENSATION PLANS (Schedule of

COMPENSATION PLANS (Schedule of Outstanding Share Based Awards) (Details) shares in Thousands	Sep. 30, 2023 shares
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards outstanding, restricted stock	371
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		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Effective tax rate	21%	27.20%	54%	24.50%

INCOME TAXES (Schedule of Provi

INCOME TAXES (Schedule of Provision of Income Taxes) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Current portion of income tax expense	$ 3	$ 296	$ 137	$ 583
Deferred portion of income tax (benefit) expense	(1,920)	4,607	1,756	21,548
Total income tax (benefit) expense	$ (1,917)	$ 4,903	$ 1,893	$ 22,131

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Narrative) (Details) $ in Thousands			1 Months Ended			3 Months Ended		9 Months Ended		12 Months Ended
	Mar. 17, 2022 acre ft	Dec. 17, 2021 acre ft	Sep. 30, 2022 USD ($)	Mar. 31, 2021 USD ($)	Feb. 28, 2019 acre ft	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Dec. 31, 2018 acre ft	Dec. 31, 2017 acre ft	Dec. 31, 2022 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Security placed with the State of Utah and BLM						$ 26,800		$ 26,800				$ 24,600
Long-term restricted cash deposits						500		500				500
Surety bonds issued by an insurer						26,300		26,300				24,100
Loss Contingencies [Line Items]
Refund of prepayments			$ 32,600			0	$ 32,579	0	$ 32,579
Contingency liabilities, current						$ 3,100		3,100				$ 4,200
Contingency payments								$ 2,700
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	150
Preliminary authorization of annual allowable water sales, volume, cancelled | acre ft										5,700	5,700
Quarterly installment received from customer				$ 3,900
Refund of prepayments			$ 32,600

FAIR VALUE (Narrative) (Details

FAIR VALUE (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	May 31, 2020	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022	Jul. 31, 2022
Cash and Cash Equivalents [Abstract]
Cash equivalents		$ 0		$ 0		$ 1,700
Debt Securities, Held-to-maturity, Maturity [Abstract]
Debt securities, held-to-maturity		$ 5,400		$ 5,400		8,400
Debt securities, held-to-maturity, maturity period		2 years		2 years
Schedule of Equity Method Investments [Line Items]
Equity in earnings of unconsolidated entities		$ (54)	$ 766	$ (292)	$ 766
Equity Investment Ovation [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, amount committed		$ 4,000		$ 4,000
Equity method investment, ownership percentage		16%		16%
Equity method investments		$ 3,200		$ 3,200		$ 3,200
Equity in earnings of unconsolidated entities		$ (100)		$ (300)
Equity Investment WDVGL [Member]
Equity Securities without Readily Determinable Fair Value [Line Items]
Equity securities without readily determinable fair value, acquired	$ 3,500
Share price							$ 10

FAIR VALUE (Held-to-Maturity In

FAIR VALUE (Held-to-Maturity Investments) (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Schedule of Held-to-maturity Securities [Line Items]
Amortized cost, short-term	$ 3,463	$ 5,959
Amortized cost, long-term	1,936	2,434
Gross unrealized gains, short-term	0	0
Gross unrealized gains, long-term	0	0
Gross unrealized losses, short-term	(29)	(42)
Gross unrealized losses, long-term	(27)	(36)
Fair value, short-term	3,434	5,917
Fair value, long-term	1,909	2,398
Fair value, total	5,400	8,400
Corporate Bonds
Schedule of Held-to-maturity Securities [Line Items]
Amortized cost, short-term	1,499	3,992
Amortized cost, long-term	489	499
Gross unrealized gains, short-term	0	0
Gross unrealized gains, long-term	0	0
Gross unrealized losses, short-term	(8)	(24)
Gross unrealized losses, long-term	(8)	(10)
Fair value, short-term	1,491	3,968
Fair value, long-term	481	489
Government Bonds
Schedule of Held-to-maturity Securities [Line Items]
Amortized cost, short-term	1,964	1,967
Amortized cost, long-term	1,447	1,935
Gross unrealized gains, short-term	0	0
Gross unrealized gains, long-term	0	0
Gross unrealized losses, short-term	(21)	(18)
Gross unrealized losses, long-term	(19)	(26)
Fair value, short-term	1,943	1,949
Fair value, long-term	$ 1,428	$ 1,909

BUSINESS SEGMENTS (Narrative) (

BUSINESS SEGMENTS (Narrative) (Details)	9 Months Ended
	Sep. 30, 2023 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		9 Months Ended
		Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Segment Reporting Information [Line Items]
Lower of cost or net realizable value inventory adjustments		$ 3,413	$ 0	$ 3,413	$ 0
Gross Margin		491	26,770	32,225	115,757
Depreciation, depletion and amortization expense	[1]	10,202	8,442	28,546	25,526
Operating Segments [Member] | Potash [Member]
Segment Reporting Information [Line Items]
Lower of cost or net realizable value inventory adjustments		1,083		1,083
Gross Margin		3,411	19,872	30,716	73,862
Depreciation, depletion and amortization expense	[1]	7,272	6,318	20,753	19,350
Operating Segments [Member] | Trio [Member]
Segment Reporting Information [Line Items]
Lower of cost or net realizable value inventory adjustments		2,330		2,330
Gross Margin		(4,290)	6,503	(1,617)	35,694
Depreciation, depletion and amortization expense	[1]	1,754	1,072	4,365	3,122
Operating Segments [Member] | Oil Field Solutions [Member]
Segment Reporting Information [Line Items]
Gross Margin		1,370	395	3,126	6,201
Depreciation, depletion and amortization expense	[1]	950	867	2,772	2,458
Corporate/Other [Member]
Segment Reporting Information [Line Items]
Gross Margin		0	0	0	0
Depreciation, depletion and amortization expense	[1]	226	185	656	596
Freight Costs [Member]
Segment Reporting Information [Line Items]
Cost of Goods Sold		7,909	7,793	30,015	27,257
Freight Costs [Member] | Operating Segments [Member] | Potash [Member]
Segment Reporting Information [Line Items]
Cost of Goods Sold		2,894	3,726	12,237	11,430
Freight Costs [Member] | Operating Segments [Member] | Trio [Member]
Segment Reporting Information [Line Items]
Cost of Goods Sold		5,086	4,135	18,038	16,055
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		(71)	(68)	(260)	(228)
Warehouse and Handling [Member]
Segment Reporting Information [Line Items]
Cost of Goods Sold		2,731	2,541	8,265	7,221
Warehouse and Handling [Member] | Operating Segments [Member] | Potash [Member]
Segment Reporting Information [Line Items]
Cost of Goods Sold		1,541	1,414	4,630	3,947
Warehouse and Handling [Member] | Operating Segments [Member] | Trio [Member]
Segment Reporting Information [Line Items]
Cost of Goods Sold		1,190	1,127	3,635	3,274
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		54,465	74,752	222,420	270,891
Cost of Goods Sold		39,921	37,648	148,502	120,656
Mineral [Member] | Potash [Member]
Segment Reporting Information [Line Items]
Sales		27,602	42,354	127,363	147,622
Mineral [Member] | Trio [Member]
Segment Reporting Information [Line Items]
Sales		22,030	24,043	81,052	100,561
Mineral [Member] | Oil Field Solutions [Member]
Segment Reporting Information [Line Items]
Sales		4,904	8,423	14,265	22,936
Mineral [Member] | Operating Segments [Member] | Potash [Member]
Segment Reporting Information [Line Items]
Sales		27,602	42,354	127,363	147,622
Cost of Goods Sold		18,673	17,342	78,697	58,383
Mineral [Member] | Operating Segments [Member] | Trio [Member]
Segment Reporting Information [Line Items]
Sales		22,030	24,043	81,052	100,561
Cost of Goods Sold		17,714	12,278	58,666	45,538
Mineral [Member] | Operating Segments [Member] | Oil Field Solutions [Member]
Segment Reporting Information [Line Items]
Sales		4,904	8,423	14,265	22,936
Cost of Goods Sold		3,534	8,028	11,139	16,735
Lower of cost or net realizable value inventory adjustments		0		0
Mineral [Member] | Corporate/Other [Member]
Segment Reporting Information [Line Items]
Sales		(71)	(68)	(260)	(228)
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.