Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2015 | Nov. 02, 2015 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2015 | |
Document Fiscal Year Focus | 2,015 | |
Document Fiscal Period Focus | Q3 | |
Entity Registrant Name | Rhino Resource Partners LP | |
Entity Central Index Key | 1,490,630 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Smaller Reporting Company | |
Common Units [Member] | ||
Entity Common Stock Shares Outstanding | 16,919,137 | |
Subordinated Units [Member] | ||
Entity Common Stock Shares Outstanding | 12,397,000 |
Condensed Consolidated Statemen
Condensed Consolidated Statements Of Financial Position - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 | |
CURRENT ASSETS: | |||
Cash and cash equivalents | $ 114 | $ 626 | |
Accounts receivable, net of allowance for doubtful accounts ($135 as of September 30, 2015 and $724 as of December 31, 2014) | 18,825 | 22,467 | |
Inventories | 9,657 | 13,030 | |
Advance royalties, current portion | 888 | 1,032 | |
Prepaid expenses and other | 3,385 | 3,974 | |
Total current assets | 32,869 | 41,129 | |
PROPERTY, PLANT AND EQUIPMENT: | |||
At cost, including coal properties, mine development and construction costs | 650,628 | 663,662 | |
Less accumulated depreciation, depletion and amortization | (288,328) | (280,225) | |
Net property, plant and equipment | 362,300 | 383,437 | |
Advance royalties, net of current portion | 7,027 | 1,363 | |
Investment in unconsolidated affiliates | 7,578 | 20,653 | |
Intangible assets | 1,007 | 1,067 | |
Other non-current assets | 17,161 | 16,410 | |
Non-current assets held for sale | 15,699 | 9,279 | |
TOTAL | 443,641 | 473,338 | |
CURRENT LIABILITIES: | |||
Accounts payable | 9,549 | 10,924 | |
Accrued expenses and other | 17,761 | 17,334 | |
Current portion of long-term debt | [1] | 48,221 | 210 |
Current portion of asset retirement obligations | 953 | 1,431 | |
Current portion of postretirement benefits | 425 | 425 | |
Total current liabilities | 76,909 | 30,324 | |
NON-CURRENT LIABILITIES: | |||
Long-term debt, net of current portion | 2,605 | 57,222 | |
Asset retirement obligations, net of current portion | 24,527 | 28,452 | |
Other non-current liabilities | 28,028 | 27,942 | |
Postretirement benefits, net of current portion | 6,433 | 6,223 | |
Non-current liabilities held for sale | 6,823 | 2,250 | |
Total non-current liabilities | 68,416 | 122,089 | |
Total liabilities | $ 145,325 | $ 152,413 | |
COMMITMENTS AND CONTINGENCIES (NOTE 13) | |||
PARTNERS' CAPITAL: | |||
Limited partners | $ 286,575 | $ 308,586 | |
General partner | 10,501 | 10,966 | |
Accumulated other comprehensive income | 1,240 | 1,373 | |
Total partners' capital | 298,316 | 320,925 | |
TOTAL | $ 443,641 | $ 473,338 | |
[1] | See Note 1 for discussion on current liability classification as of September 30, 2015. |
Consensed Consolidated Statemen
Consensed Consolidated Statements Of Financial Position (Parenthetical) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Consolidated Statements Of Financial Position [Abstract] | ||
Accounts receivable, allowance for doubtful accounts | $ 135 | $ 724 |
Condensed Consolidated Stateme4
Condensed Consolidated Statements Of Operations And Comprehensive Income - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | ||
REVENUES: | |||||
Coal sales | $ 45,468 | $ 52,260 | $ 139,493 | $ 150,403 | |
Freight and handling revenues | 735 | 554 | 1,942 | 1,318 | |
Other revenues | 7,950 | 8,545 | 25,667 | 25,466 | |
Total revenues | 54,153 | 61,359 | 167,102 | 177,187 | |
COSTS AND EXPENSES: | |||||
Cost of operations (exclusive of depreciation, depletion and amortization shown separately below) | 48,326 | 52,758 | 141,796 | 145,686 | |
Freight and handling costs | 709 | 555 | 1,915 | 1,219 | |
Depreciation, depletion and amortization | 8,248 | 9,627 | 25,695 | 27,789 | |
Selling, general and administrative (exclusive of depreciation, depletion and amortization shown separately above) | 3,007 | 4,125 | 12,336 | 14,382 | |
Loss on asset impairments | 2,333 | 4,512 | |||
(Gain)/loss on sale/disposal of assets-net | (476) | 402 | (450) | (468) | |
Total costs and expenses | 62,147 | 67,467 | 185,804 | 188,608 | |
(LOSS) FROM OPERATIONS | (7,994) | (6,108) | (18,702) | (11,421) | |
INTEREST AND OTHER (EXPENSE)/INCOME: | |||||
Interest expense | (1,389) | (854) | (3,659) | (4,800) | |
Interest income and other | 3 | 38 | 272 | ||
Equity in net income/(loss) of unconsolidated affiliates | 77 | (1,905) | 342 | (4,708) | |
Total interest and other (expense) | (1,312) | (2,756) | (3,279) | (9,236) | |
NET (LOSS) BEFORE INCOME TAXES FROM CONTINUING OPERATIONS | $ (9,306) | $ (8,864) | $ (21,981) | $ (20,657) | |
INCOME TAXES | |||||
NET (LOSS) FROM CONTINUING OPERATIONS | $ (9,306) | $ (8,864) | $ (21,981) | $ (20,657) | |
DISCONTINUED OPERATIONS (NOTE 3) | |||||
(Loss)/income from discontinued operations | (43) | 722 | 130,416 | ||
NET (LOSS)/INCOME | (9,306) | (8,907) | (21,259) | 109,759 | |
Other comprehensive income: | |||||
Amortization of actuarial gain under ASC Topic 715 | (44) | (92) | (133) | (275) | |
COMPREHENSIVE (LOSS)/INCOME | $ (9,350) | $ (8,999) | $ (21,392) | $ 109,484 | |
Net (loss)/income per limited partner unit, diluted: | |||||
Distributions paid per limited partner unit | [1] | $ 0.445 | $ 0.070 | $ 1.335 | |
Common Units [Member] | |||||
Net (loss)/income per limited partner unit, basic: | |||||
Net (loss) per unit from continuing operations | $ (0.31) | (0.28) | (0.73) | (0.31) | |
Net income per unit from discontinued operations | 0 | 0.02 | 4.40 | ||
Net (loss)/income per common unit, basic | (0.31) | (0.28) | (0.71) | 4.09 | |
Net (loss)/income per limited partner unit, diluted: | |||||
Net (loss)/income per unit from continuing operations | (0.31) | (0.28) | (0.73) | (0.31) | |
Net income per unit from discontinued operations | 0 | 0.02 | 4.40 | ||
Net (loss)/income per common unit, diluted | $ (0.31) | $ (0.28) | $ (0.71) | $ 4.09 | |
Weighted average number of limited partner units outstanding, basic: | |||||
Weighted average number of limited partner units outstanding, basic | 16,706 | 16,681 | 16,697 | 16,673 | |
Weighted average number of limited partner units outstanding, diluted: | |||||
Weighted average number of limited partner units outstanding, diluted | 16,706 | 16,681 | 16,697 | 16,682 | |
Subordinated Units [Member] | |||||
Net (loss)/income per limited partner unit, basic: | |||||
Net (loss) per unit from continuing operations | $ (0.31) | $ (0.33) | $ (0.75) | $ (1.25) | |
Net income per unit from discontinued operations | 0 | 0.02 | 4.40 | ||
Net (loss)/income per common unit, basic | (0.31) | (0.33) | (0.73) | 3.15 | |
Net (loss)/income per limited partner unit, diluted: | |||||
Net (loss)/income per unit from continuing operations | (0.31) | (0.33) | (0.75) | (1.25) | |
Net income per unit from discontinued operations | 0 | 0.02 | 4.40 | ||
Net (loss)/income per common unit, diluted | (0.31) | (0.33) | (0.73) | 3.15 | |
Distributions paid per limited partner unit | $ 0 | $ 0 | $ 0 | $ 0 | |
Weighted average number of limited partner units outstanding, basic: | |||||
Weighted average number of limited partner units outstanding, basic | 12,397 | 12,397 | 12,397 | 12,397 | |
Weighted average number of limited partner units outstanding, diluted: | |||||
Weighted average number of limited partner units outstanding, diluted | 12,397 | 12,397 | 12,397 | 12,397 | |
General Partner [Member] | |||||
INTEREST AND OTHER (EXPENSE)/INCOME: | |||||
NET (LOSS) FROM CONTINUING OPERATIONS | $ (186) | $ (177) | $ (440) | $ (413) | |
DISCONTINUED OPERATIONS (NOTE 3) | |||||
(Loss)/income from discontinued operations | (1) | 14 | 2,608 | ||
NET (LOSS)/INCOME | (186) | (178) | (426) | 2,195 | |
Common Unitholders [Member] | |||||
INTEREST AND OTHER (EXPENSE)/INCOME: | |||||
NET (LOSS) FROM CONTINUING OPERATIONS | (5,235) | (4,983) | (12,362) | (11,610) | |
DISCONTINUED OPERATIONS (NOTE 3) | |||||
(Loss)/income from discontinued operations | (28) | 406 | 73,292 | ||
NET (LOSS)/INCOME | $ (5,235) | $ (5,011) | $ (11,956) | $ 61,682 | |
Net (loss)/income per limited partner unit, basic: | |||||
Net (loss) per unit from continuing operations | $ (0.31) | $ (0.28) | $ (0.73) | $ (0.31) | |
Net income per unit from discontinued operations | 0 | 0.02 | 4.40 | ||
Net (loss)/income per limited partner unit, diluted: | |||||
Net (loss)/income per unit from continuing operations | $ (0.31) | (0.28) | (0.73) | (0.31) | |
Net income per unit from discontinued operations | $ 0 | $ 0.02 | $ 4.40 | ||
Weighted average number of limited partner units outstanding, basic: | |||||
Weighted average number of limited partner units outstanding, basic | 16,706 | 16,681 | 16,697 | 16,673 | |
Weighted average number of limited partner units outstanding, diluted: | |||||
Weighted average number of limited partner units outstanding, diluted | 16,706 | 16,681 | 16,697 | 16,682 | |
Subordinated Unitholders[Member] | |||||
INTEREST AND OTHER (EXPENSE)/INCOME: | |||||
NET (LOSS) FROM CONTINUING OPERATIONS | $ (3,885) | $ (3,704) | $ (9,179) | $ (8,634) | |
DISCONTINUED OPERATIONS (NOTE 3) | |||||
(Loss)/income from discontinued operations | (14) | 302 | 54,516 | ||
NET (LOSS)/INCOME | $ (3,885) | $ (3,718) | $ (8,877) | $ 45,882 | |
Net (loss)/income per limited partner unit, basic: | |||||
Net (loss) per unit from continuing operations | $ (0.31) | $ (0.33) | $ (0.75) | $ (1.25) | |
Net income per unit from discontinued operations | 0 | 0.02 | 4.40 | ||
Net (loss)/income per limited partner unit, diluted: | |||||
Net (loss)/income per unit from continuing operations | $ (0.31) | (0.33) | (0.75) | (1.25) | |
Net income per unit from discontinued operations | $ 0 | $ 0.02 | $ 4.40 | ||
Weighted average number of limited partner units outstanding, basic: | |||||
Weighted average number of limited partner units outstanding, basic | 12,397 | 12,397 | 12,397 | 12,397 | |
Weighted average number of limited partner units outstanding, diluted: | |||||
Weighted average number of limited partner units outstanding, diluted | 12,397 | 12,397 | 12,397 | 12,397 | |
[1] | No distributions were paid on the subordinated units for the three and nine months ended September 30, 2015 and 2014 |
Condensed Consolidated Stateme5
Condensed Consolidated Statements Of Operations And Comprehensive Income (Parenthetical) - $ / shares | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | ||
Distributions paid per limited partner unit | [1] | $ 0.445 | $ 0.070 | $ 1.335 | |
Subordinated Units [Member] | |||||
Distributions paid per limited partner unit | $ 0 | $ 0 | $ 0 | $ 0 | |
[1] | No distributions were paid on the subordinated units for the three and nine months ended September 30, 2015 and 2014 |
Condensed Consolidated Stateme6
Condensed Consolidated Statements Of Cash Flows - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net (loss)/income | $ (21,259) | $ 109,759 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation, depletion and amortization | 25,695 | 27,789 |
Accretion on asset retirement obligations | 1,651 | 1,731 |
Amortization of deferred revenue | (2,058) | (1,356) |
Amortization of advance royalties | 602 | 242 |
Amortization of debt issuance costs | 1,079 | 1,888 |
Amortization of actuarial gain | (133) | (275) |
Provision for doubtful accounts | 496 | |
Equity in net (income)/(loss) of unconsolidated affiliates | (342) | 4,708 |
Distributions from unconsolidated affiliate | 232 | |
Loss on retirement of advance royalties | 40 | 200 |
Loss on asset impairments | 4,512 | |
(Gain) on sale/disposal of assets-net | (1,172) | (130,566) |
Equity-based compensation | 25 | 311 |
Changes in assets and liabilities: | ||
Accounts receivable | 3,308 | 1,560 |
Inventories | 3,373 | 17 |
Advance royalties | (1,456) | (1,230) |
Prepaid expenses and other assets | 561 | (815) |
Accounts payable | (1,390) | 827 |
Accrued expenses and other liabilities | 421 | 3,272 |
Asset retirement obligations | (467) | (895) |
Postretirement benefits | 210 | 171 |
Net cash provided by operating activities | 13,928 | 17,338 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Additions to property, plant, and equipment | (12,060) | (58,479) |
Proceeds from sales of property, plant, and equipment | 7,519 | 189,464 |
Return of capital from unconsolidated affiliates | $ 35 | |
Investment in unconsolidated affiliates | (8,309) | |
Net cash (used in)/provided by investing activities | $ (4,506) | 122,676 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Borrowings on line of credit | 75,650 | 145,540 |
Repayments on line of credit | (82,100) | (261,690) |
Repayments on long-term debt | (156) | (770) |
Distributions to unitholders | (1,267) | (23,098) |
General partner's contributions | 1 | 6 |
Net settlement of employee withholding taxes on unit awards vested | (44) | |
Payments on debt issuance costs | (2,062) | (104) |
Payment of offering costs | (2) | |
Net cash used in financing activities | (9,934) | (140,162) |
NET (DECREASE) IN CASH AND CASH EQUIVALENTS | (512) | (148) |
CASH AND CASH EQUIVALENTS-Beginning of period | 626 | 423 |
CASH AND CASH EQUIVALENTS-End of period | $ 114 | $ 275 |
Basis Of Presentation And Organ
Basis Of Presentation And Organization | 9 Months Ended |
Sep. 30, 2015 | |
Basis Of Presentation And Organization [Abstract] | |
Basis Of Presentation And Organization | 1. BASIS OF PRESENTATION AND ORGANIZATION Basis of Presentation and Principles of Consolidation — The accompanying unaudited interim financial statements include the accounts of Rhino Resource Partners LP and its subsidiaries (the “Partnership”). Intercompany transactions and balances have been eliminated in consolidation. Unaudited Interim Financial Information —The accompanying unaudited interim financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information. The condensed consolidated statement of financial position as of September 3 0 , 2015, condensed consolidated statements of operations and comprehensive income for the three and nine months ended September 3 0 , 2015 and 2014 and the condensed consolidated statements of cash flows for the nine months ended September 3 0 , 2015 and 2014 include all adjustments (consisting of normal recurring adjustments) which the Partnership considers necessary for a fair presentation of the financial position, operating results and cash flows for the periods presented. The condensed consolidated statement of financial position as of December 31, 2014 was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America (“U.S.”). The Partnership filed its Annual Report on Form 10-K for the year ended December 31, 2014 with the Securities and Exchange Commission (“SEC”), which included all information and notes necessary for such presentation. The results of operations for the interim period are not necessarily indicative of the results to be expected for the year or any future period. These unaudited interim financial statements should be read in conjunction with the audited financial statements included in the Partnership’s Annual Report on Form 10-K for the year ended December 31, 2014 filed with the SEC. Organization —Rhino Resource Partners LP is a Delaware limited partnership formed on April 19, 2010 to acquire Rhino Energy LLC (the “Predecessor” or the “Operating Company”). The Operating Company and its wholly owned subsidiaries produce and market coal from surface and underground mines in Kentucky, Ohio, West Virginia, and Utah. The majority of sales are made to domestic utilities and other coal-related organizations in the United States. In addition to operating coal properties, the Operating Company manages and leases coal properties and collects royalties from such management and leasing activities. Debt Classification — The Partnership evaluated its amended and restated senior secured credit facility at September 30, 2015 to determine whether this debt liability should be classified as a long-term or short-term liability on the Partnership’s unaudited condensed consolidated statements of financial position. In April 2015, the Partnership entered into a third amendment of its amended and restated senior secured credit facility (see Note 9 for further details of the third amendment) . The third amendment extended the expiration date of the amended and restated credit agreement to July 2017 . The extension is contingent upon (i) the Partnership’s leverage ratio being less than or equal to 2.75 to 1.0 and (ii) the Partnership having liquidity greater than or equal to $15 million , in each case for either the quarter ending December 31, 2015 or March 31, 2016. If both of these conditions are not satisfied for one of such quarters , the expiration date of the amended and restated credit agreement will revert to July 2016 . As of September 30, 2015, the Partnership’s leverage ratio was 3.2 to 1.0 and its liquidity was approximately $9.0 million. Based on current projections, the Partnership’s current normal operating forecast indicates that it will not meet both of these extension conditions for either quarter. Based on this analysis, the Partnership determined that its credit facility debt liability of $48.0 million at September 30, 2015 should be classified as a current liability on its unaudited condensed consolidated statements of financial position . The classification of the Partnership’s credit facility balance as a current liability raises substantial doubt of the Partnership’s ability to continue as a going concern for the next twelve months. The Partnership is currently analyzing multiple options to meet the credit facility contingent extension conditions, which includes potential sales of non-core assets. The Partnership is also considering alternative financing options that could result in a new long-term credit facility with a potential five-year term . If the Partnership is unable to meet the extension conditions on its credit facility and the expiration date of the credit agreement reverts to July 2016, the Partnership will have to secure alternative financing to replace its credit facility by the expiration date of July 2016 in order to continue its normal business operations. The accompanying unaudited condensed consolidated financial statements have been prepared assuming that the Partnership will continue a s a going concern with the realization of assets and the satisfaction of liabilities in the normal course of business for the twelve-month period following the date of these unaudited condensed consolidated statements . |
Summary Of Significant Accounti
Summary Of Significant Accounting Policies And General | 9 Months Ended |
Sep. 30, 2015 | |
Summary Of Significant Accounting Policies And General [Abstract] | |
Summary Of Significant Accounting Policies And General | 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND GENERAL Investments in Unconsolidated Affiliates. Investments in other entities are accounted for using the consolidation, equity method or cost basis depending upon the level of ownership, the Partnership’s ability to exercise significant influence over the operating and financial policies of the investee and whether the Partnership is determined to be the primary beneficiary of a variable interest entity. Equity investments are recorded at original cost and adjusted periodically to recognize the Partnership’s proportionate share of the investees’ net income or losses after the date of investment. Any losses from the Partnership’s equity method investment are absorbed by the Partnership based upon its proportionate ownership percentage. If losses are incurred that exceed the Partnership’s investment in the equity method entity, then the Partnership must continue to record its proportionate share of losses in excess of its investment. Investments are written down only when there is clear evidence that a decline in value that is other than temporary has occurred. In May 2008, the Operating Company entered into a joint venture, Rhino Eastern LLC (“Rhino Eastern”), with an affiliate of Patriot Coal Corporation (“Patriot”) to acquire the Eagle mining complex. To initially capitalize the joint venture, the Operating Company contributed approximately $ 16.1 million for a 51 % ownership interest in the joint venture. The Partnership accounted for the investment in the joint venture and its results of operations under the equity method. The Partnership considered the operations of this entity to comprise a reporting segment (“Eastern Met”) and has provided additional detail related to this operation in Note 18, “Segment Information.” In January 2015, the Partnership completed a Membership Transfer Agreement (the “Transfer Agreement”) with an affiliate of Patriot that terminated the Rhino Eastern joint venture. Pursuant to the Transfer Agreement, Patriot sold and assigned its 49% membership interest in the Rhino Eastern joint venture to the Partnership and, in consideration of this transfer, Patriot received certain fixed assets, leased equipment and coal reserves associated with the mining area previously operated by the Rhino Eastern joint venture. Patriot also assumed substantially all of the active workforce related to the Eagle mining area that was previously employed by the Rhino Eastern joint venture. The Partnership retained approximately 34 million tons of coal reserves that are not related to the Eagle mining area as well as a prepaid advanced royalty balance. As part of the closing of the Transfer Agreement, the Partnership and Patriot agreed to a dissolution payment based upon a final working capital adjustment calculation as defined in the Transfer Agreement. As of December 31, 2014, the Partnership recorded an impairment charge of approximately $5.9 million related to its investment in the Rhino Eastern joint venture based upon the fair value of the assets received and liabilities assumed in the dissolution of the joint venture compared to the Partnership’s carrying amount of its investment in the joint venture. Refer to Note 17 for further information on the financial statement impact of the Rhino Eastern dissolution completed in January 2015. In December 2012, the Partnership made an initial investment of approximately $ 2.0 million in a new joint venture, Muskie Proppant LLC (“Muskie”), with affiliates of Wexford Capital LP (“Wexford Capital”). Muskie was formed to provide sand for fracking operations to drillers in the Utica Shale region and other oil and natural gas basins in the United States. The Partnership accounted for the investment in the joint venture and results of operations under the equity method. The Partnership recorded its proportionate share of the operating gains/( losses ) for Muskie for the three and nine months ended September 3 0 , 2014 of approximately $ 37,000 and ($81,000) , respectively . During the nine months ended September 30 , 2014, the Partnership contributed additional capital based upon its ownership share to the Muskie joint venture in the amount of $ 0.2 million. During 2013 the Partnership provided a loan to Muskie totaling approximately $0.2 million which was fully repaid in November 2014 in conjunction with the Partnership’s contribution of its interest in Muskie to Mammoth Energy Partners LP (“Mammoth”), which is discussed below. In November 2014, the Partnership contributed its investment interest in Muskie to Mammoth in return for a limited partner interest in Mammoth. Mammoth was formed to own various companies that provide services to companies who engage in the exploration and development of North American onshore unconventional oil and natural gas reserves. Mammoth’s companies provide services that include completion and production services, contract land and directional drilling services and remote accommodation services. The non-cash transaction was a contribution of the Partnership’s investment interest in the Muskie entity for an investment interest in Mammoth. Thus, the Partnership determined that the non-cash exchange of the Partnership’s ownership interest in Muskie did not result in any gain or loss. As of September 30 , 2015, the Partnership has recorded its investment in Mammoth of $1.9 million as a long-term asset, which the Partnership has accounted for as a cost method investment based upon its ownership percentage. The Partnership has included its investment in Mammoth and its prior investment in Muskie in its Other category for segment reporting purposes. In September 2014, the Partnership made an initial investment of $5.0 million in a new joint venture, Sturgeon Acquisitions LLC (“Sturgeon”), with affiliates of Wexford Capital and Gulfport Energy (“Gulfport”), a publicly traded company. Sturgeon subsequently acquired 100% of the outstanding equity interests of certain limited liability companies located in Wisconsin that provide frac sand for oil and natural gas drillers in the United States. The Partnership accounts for the investment in the joint venture and results of operations under the equity method. The Partnership recorded its proportionate share of the operating income for Sturgeon for the three and nine months ended September 30 , 2015 of approximately $0.1 million and $0.3 million, respectively . The Partnership has included the operating activities of Sturgeon in its Other category for segment reporting purposes. Recently Issued Accounting Standards. In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, “Revenue from Contracts with Customers” (“ASU 2014-09”). ASU 2014-09 clarifies the principles for recognizing revenue and establishes a common revenue standard for U.S. financial reporting purposes. The guidance in ASU 2014-09 affects any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets unless those contracts are within the scope of other standards (for example, insurance contracts or lease contracts). ASU 2014-09 supersedes the revenue recognition requirements in Accounting Standards Codification (“ ASC ”) 605, Revenue Recognition , and most industry-specific accounting guidance. Additionally, ASU 2014-09 supersedes some cost guidance included in ASC 605-35, Revenue Recognition—Construction-Type and Production-Type Contracts . In addition, the existing requirements for the recognition of a gain or loss on the transfer of nonfinancial assets that are not in a contract with a customer (for example, assets within the scope of ASC 360, Property, Plant, and Equipment , and intangible assets within the scope of ASC 350, Intangibles—Goodwill and Other ) are amended to be consistent with the guidance on recognition and measurement (including the constraint on revenue) in ASU 2014-09. In July 2015, the FASB approved to defer the effective date of ASU 2014-09 by one year. Accordingly, ASU 2014 -09 will be effective for public entities for annual reporting periods beginning after December 15, 2017 and interim periods therein . The Partnership is currently evaluating the requirements of this new accounting guidance. In January 2015, the FASB issued ASU 2015-01, “Income S tatement-Extraordinary and Unusual Items”. ASC 225-20, Income Statement—Extraordinary and Unusual Items, required that an entity separately classify, present, and disclose extraordinary events and transactions. ASU 2015-01 eliminates the concept of extraordinary items. The amendments in ASU 2015-01 are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. A reporting entity may apply the amendments prospectively. A reporting entity also may apply the amendments retrospectively to all prior periods presented in the financial statements. Early adoption is permitted provided that the guidance is applied from the beginning of the fiscal year of adoption. The effective date is the same for both public business entities and all other entities. The adoption of ASU 2015-01 on January 1, 2016 is not expected to have a material impact on the Partnership’s financial statements. In February 2015, the FASB issued ASU 2015-02, “Consolidation”. ASU 2015-02 affects reporting entities that are required to evaluate whether they should consolidate certain legal entities. All legal entities are subject to reevaluation under the revised consolidation model. Specifically, the amendments of ASU 2015-02: a) modify the evaluation of whether limited partnerships and similar legal entities are variable interest entities (VIEs) or voting interest entities, b) eliminate the presumption that a general partner should consolidate a limited partnership, c) affect the consolidation analysis of reporting entities that are involved with VIEs, particularly those that have fee arrangements and related party relationships and d) provide a scope exception from consolidation guidance for reporting entities with interests in legal entities that are required to comply with or operate in accordance with requirements that are similar to those in Rule 2a-7 of the Investment Company Act of 1940 for registered money market funds. ASU 2015-02 is effective for public business entities for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted, including adoption in an interim period. If an entity early adopts the amendments in an interim period, any adjustments should be reflected as of the beginning of the fiscal year that includes that interim period. A reporting entity may apply the amendments in this Update using a modified retrospective approach by recording a cumulative-effect adjustment to equity as of the beginning of the fiscal year of adoption. A reporting entity also may apply the amendments retrospectively. The adoption of ASU 2015-02 on January 1, 2016 is not expected to have a material impact on the Partnership’s financial statements. In April 2015, the FASB issued ASU 2015-03, “Interest—Imputation of Interest (Subtopic 835-30)-Simplifying the Presentation of Debt Issuance Costs”. ASU 2015-03 requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. Prior to ASU 2015-03, debt issuance costs have been presented in the balance sheet as a deferred charge, or asset. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this ASU. For public business entities, ASU 2015-03 is effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Early adoption of ASU 2105-03 is permitted for financial statements that have not been previously issued. In addition, ASU 2015-03 requires entities to apply the new guidance on a retrospective basis, wherein the balance sheet of each individual period presented should be adjusted to reflect the period-specific effects of applying the new guidance. The Partnership is currently evaluating the requirements of this new accounting guidance. |
Discontinued Operations
Discontinued Operations | 9 Months Ended |
Sep. 30, 2015 | |
Discontinued Operations [Abstract] | |
Discontinued Operations | 3. DISCONTINUED OPERATIONS Divestiture of Utica Shale Oil and Natural Gas Assets The Partnership and an affiliate of Wexford Capital participated with Gulfport to acquire interest s in a portfolio of oil and natural gas leases in the Utica Shale. As of December 31, 2013, the Partnership had invested approximately $ 31.1 million for its pro rata interest in the Utica Shale portfolio of oil and natural gas leases, which consisted of a 5 % interest in a total of approximately 152,300 gross acres, or approximately 7,615 net acres. In addition, per the joint operating agreement among the Partnership, Gulfport and an affiliate of Wexford Capital, the Partnership had funded its proportionate share of drilling costs to Gulfport for wells being drilled on the Partnership’s acreage. As of December 3 1 , 201 3, the Partnership had funded approximately $ 23.3 million of drilling costs . I n March 2014, the Partnership completed a p urchase and s ale a greement (the “Purchase Agreement”) with Gulfport to sell the Partnership’s oil and natural gas properties in the Utica Shale region for approximately $184.0 million (the “Purchase P rice”). The Purchase Agreement wa s effective as of January 1, 2014 and the Purchase Price wa s adjusted for any unsettled expenditures made and/or proceeds received from the Partnership’s portion of its Utica Shale properties prior to the effective date. At the closing of the Purchase Agreement, the Partnership was immediately due approximately $179.0 million, net of any adjustments described above, and the remaining approximately $5.0 million wa s scheduled to be paid within approximately 90 days of March 20, 2014 , subject to ongoing legal title work related to specific properties . In December 2014, the Partnership settled the remaining $5.0 million due from Gulfport based upon net amounts payable from the Partnership to Gulfport prior to the effective date of the Purchase Agreement as well as amounts due the Partnership related to legal reviews of the properties subject to the Purchase Agreement and other unsettled items due to the Partnership prior to the effective date of the Purchase Agreement. The net effect of this settlement resulted in the Partnership paying Gulfport approximately $46,000 in December 2014. The Partnership recorded a gain of approximately $121.7 million during the nine months ended September 30 , 2014 related to this sale, which is recorded in Income from discontinued operations in the unaudited condensed consolidated statements of operations and comprehensive income. The gain from the Utica Shale transaction is included in the (Gain) on sale/disposal of assets—net line in the operating activities section of the Partnership’s unaudited condensed consolidated statements of cash flows. The proceeds from the Utica Shale transaction are included in the Proceeds from sales of property, plant, and equipment line in the investing activities section of the Partnership’s unaudited condensed consolidated statements of cash flows. Other Oil and Natural Gas Activities In January 2014, the Partnership received approximately $8.4 million of net proceeds from the sale by Blackhawk Midstream LLC (“Blackhawk”) of its equity interest in two entities, Ohio Gathering Company, LLC and Ohio Condensate Company, LLC, to Summit Midstream Partners, LLC. As part of the joint operating agreement for the Utica Shale investment discussed above , the Partnership had the right to approximately 5% of the proceeds of the sale by Blackhawk. In February 2015, the Partnership received approximately $0.7 million in additional proceeds from the sale by Blackhawk that had been held in escrow. F or the nine month s ended September 30, 2015 and 2014, t he Partnership recorded the $0.7 million and $8.4 million , respectively, in Income from discontinued operations in the unaudited condensed consolidated statements of operations and comprehensive income . The gain s from the Blackhawk transa ction are included in the (Gain) on sale/disposal of assets—net line in the operating activities section of the Partnership’s unaudited condensed consolidated statements of cash flows. The proceeds from the Blackhawk transaction are included in the Proceeds from sales of property, plant, and equipment line in the investing activities section of the Partnership’s unaudited condensed consolidated statements of cash flows. |
Prepaid Expenses And Other Curr
Prepaid Expenses And Other Current Assets | 9 Months Ended |
Sep. 30, 2015 | |
Prepaid Expenses And Other Current Assets [Abstract] | |
Prepaid Expenses And Other Current Assets | 4. PREPAID EXPENSES AND OTHER CURRENT ASSETS Prepaid expenses and other current assets as of September 30, 2015 and December 31, 2014 consisted of the following: September 30, December 31, 2015 2014 (in thousands) Other prepaid expenses $ 547 $ 827 Prepaid insurance Prepaid leases Supply inventory Deposits Total Prepaid expenses and other $ 3,385 $ 3,974 |
Property, Plant And Equipment
Property, Plant And Equipment | 9 Months Ended |
Sep. 30, 2015 | |
Property, Plant And Equipment [Abstract] | |
Property, Plant And Equipment | 5. PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment, including coal properties and mine development and construction costs, as of September 30, 2015 and December 31, 2014 are summarized by major classification as follows: Useful Lives September 30, 2015 December 31, 2014 (in thousands) Land and land improvements $ 18,799 $ 18,845 Mining and other equipment and related facilities 2 - 20 Years Mine development costs 1 - 15 Years Coal properties 1 - 15 Years Oil and natural gas properties - Construction work in process Total Less accumulated depreciation, depletion and amortization Net $ 362,300 $ 383,437 Depreciation expense for mining and other equipment and related facilities, depletion expense for coal properties and oil and natural gas properties , amortization expense for mine development costs, amortization expense for intangible assets and amortization expense for asset retirement costs for the three and nine months ended September 30, 2015 and 20 14 w ere as follows: Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 (in thousands) Depreciation expense-mining and other equipment and related facilities $ 7,202 $ 7,931 $ 22,171 $ 22,652 Depletion expense for coal properties and oil and natural gas properties Amortization expense for mine development costs Amortization expense for intangible assets Amortization expense for asset retirement costs Total depreciation, depletion and amortization $ 8,248 $ 9,627 $ 25,695 $ 27,789 Long-Lived Asset Impairment s On October 30, 2015, the Partnership executed a binding letter of intent with a third party for the purchase of the Partnership’s Deane mining complex, subject to normal closing conditions. The Partnership’s Deane mining complex is located in eastern Kentucky and includes one underground mine that is currently idle. The infrastructure at the Deane mining complex consists of a preparation plant and a unit train loadout facility . The contemplated sale of the Deane complex would transfer the underground mine, related equipment, the preparation plant and loadout facility, while the Partnership would retain the mineral rights for the 39.3 million tons of proven and probable steam coal reserves at this complex. The contemplated transaction would also include a royalty agreement with the third party pursuant to which the Partnership would collect future royalties for coal mined and sold from the Deane complex. The contemplated sale of the Deane complex would also relieve the Partnership of significant reclamation liabilities and bonding requirements. T he Partnership evaluated the appropriate held for sale accounting criteria to determine if the Deane mining complex should be classified as held for sale as of September 30, 2015 . Based on this evaluation, the Partnership determined the Deane mining complex met the held for sale criteria at September 3 0, 2015 and, accordingly, the Deane mining complex asset group w as written down to its estimated fair value of $2.0 million. Due to the determination that the Deane mining complex met the held for sale criteria, the Partnership recorded an impairment charge of approximately $2.3 million for the three and nine months ended September 30 , 201 5 and the Partnership will cease depreciation of this asset group in future periods . As of September 30, 2015, the Partnership classified app roximately $8.8 million of assets and approximately $6.8 million of liabilities related to the Deane complex as held for sale on its unaudited condensed consolidated statements of financial position. In August 2015, the Partnership completed the sale of its oil and natural gas investment of approximately 1,900 net mineral acres in the Cana Woodford region of western Oklahoma. The Partnership received a total of approximately $5.7 million in proceeds from the sale of the Cana Woodford oil and natural gas mineral rights. In the second quarter of 2015, the Partnership evaluated the appropriate held for sale accounting criteria to determine if the Cana Woodford mineral rights should be classified as held for sale as of June 30, 2015. Based on this evaluation, the Partnership determined these mineral rights met the held for sale criteria at June 30, 2015 and, accordingly, these mineral rights were written down to their estimated fair value of $5.8 million. Due to the determination that the mineral rights me t the held for sale criteria, the Partnership recorded an impairment charge of approximately $2.2 million for the Cana Woodford mineral rights during the second quarter of 2015. The Partnership had a steam coal surface mine operation in eastern Kentucky (referred to as “Bevins Branch”) in its Central Appalachia segment that was idled during mid-2014 as that location’s contract with its single customer expired at that time. In May 2015, the Partnership finalized a contractual agreement with a third party to assume the Bevins Branch operation. The contractual agreement had the third party assume the Bevins Branch operation where the only financial compensation the Partnership received is a future override royalty and the assumption of the reclamation obligations by the buyer. The closing of the transaction also allowed the Partnership to avoid the ongoing maintenance costs of this operation. The Partnership reviewed the Bevins Branch operation as of December 31, 2014 in accordance with the accounting guidance for long-lived asset impairment and recorded total asset impairment and related charges of $8.3 million for the Bevins Branch operation for the year ended December 31, 2014. As of September 30, 2015 , the Partnership removed the approximately $2.3 million of remaining assets and any related liabilities that had been previously classified as held for sale on its unaudited condensed consolidated statements of financial position. |
Goodwill And Intangible Assets
Goodwill And Intangible Assets | 9 Months Ended |
Sep. 30, 2015 | |
Goodwill And Intangible Assets [Abstract] | |
Goodwill And Intangible Assets | 6 . GOODWILL AND INTANGIBLE ASSETS ASC Topic 350 addresses financial accounting and reporting for goodwill and other intangible assets subsequent to their acquisition. Under the provisions of ASC Topic 350, goodwill and other intangible assets with indefinite useful lives are no longer amortized but instead tested for impairment at least annually. Intangible assets as of September 30, 2015 consisted of the following: Gross Net Carrying Accumulated Carrying Intangible Asset Amount Amortization Amount (in thousands) Patent $ 728 $ 282 $ 446 Developed Technology Trade Name Customer List Total $ 1,460 $ 453 $ 1,007 Intangible assets as of December 31, 2014 consisted of the following: Gross Net Carrying Accumulated Carrying Intangible Asset Amount Amortization Amount (in thousands) Patent $ 728 $ 250 $ 478 Developed Technology Trade Name Customer List Total $ 1,460 $ 393 $ 1,067 The Partnership considers the patent and developed technology intangible assets to have a useful life of seventeen years and the trade name and customer list intangible assets to have a useful life of twenty years. All of the intangible assets are amortized over their useful life on a straight line basis. Amortization expense for the three and nine months ended September 30, 2015 and 201 4 is included in the depreciation, depletion and amortization table included in Note 5 . The future total amortization expense for each of the five succeeding years related to intangible assets that are currently recorded in the unaudited condensed consolidated statement of financial position is estimated to be as follows at September 30, 2015: Developed Customer Patent Technology Trade Name List Total (in thousands) 2015 (from Oct 1 to Dec 31) $ 11 $ 1 $ 2 $ 6 $ 20 2016 2017 2018 2019 |
Other Non-Current Assets
Other Non-Current Assets | 9 Months Ended |
Sep. 30, 2015 | |
Other Non-Current Assets [Abstract] | |
Other Non-Current Assets | 7. OTHER NON-CURRENT ASSETS Other non-current assets as of September 30, 2015 and December 31, 2014 consisted of the following: September 30, December 31, 2015 2014 (in thousands) Deposits and other $ 155 $ 347 Debt issuance costs—net Non-current receivable Deferred expenses Total $ 17,161 $ 16,410 Debt issuance costs were approximately $11.6 million and $9.1 million as of September 30, 2015 and December 31, 20 14, respectively . Accumulated amortization of debt issuance costs were approximately $9.1 million and $ 7.6 million as of September 30, 2015 and December 31, 20 14 , respectively. In March 2014, the Partnership entered into a second amendment of its amended and restated senior secured credit facility tha t reduced the borrowing commitment to $200 million. As part of executing the second amendment to the amended and restated senior secured credit facility, the Operating Company paid a fee of approximately $0.1 million to the lenders in March 2014, which was recorded as an addition to Debt issuance costs. In addition, the Partnership wrote off approximately $1.1 million of its unamortized debt issuance costs since the second amendment reduced the borrowing commitment under the amended and restated senior secured credit facility. In April 2015, the Partnership entered into a third amendment of its amended and restated senior secured credit facility that further reduced the borrowing commitment to $100 million. As part of executing the third amendment to the amended and restated senior secured credit facility, the Operating Company paid a fee of approximately $2.1 million to the lenders in April 201 5 , which was recorded as an addition to Debt issuance costs. The Partnership wrote-off approximately $0.2 m illion of its remaining unamortized debt issuance costs since the third amendment further reduced the borrowing commitment under the amended and restated senior secured credit facility. See Note 9 for further information on the amendment s to the amended and restated senior secured credit facility . The non-current receivable balance of $ 14.2 million as of September 30, 2015 and December 31, 201 4 consisted of the amount due from the Partnership’s workers’ compensation insurance providers for potential claims that are the primary responsibility of the Partnership, but are covered under the Partnership’s insurance policies. The $14.2 million is also included in the Partnership’s accrued workers’ compensation benefits liability balance, which is included in the non-current liabilities section of the Partnership’s unaudited condensed consolidated statements of financial position. The Partnership presents this amount on a gross asset and liability basis since a right of setoff does not exist per the accounting guidance in ASC Topic 210. This presentation has no impact on the Partnership’s results of operations or cash flows. |
Accrued Expenses And Other Curr
Accrued Expenses And Other Current Liabilities | 9 Months Ended |
Sep. 30, 2015 | |
Accrued Expenses And Other Current Liabilities [Abstract] | |
Accrued Expenses And Other Current Liabilities | 8. ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES Accrued expenses and other current liabilities as of September 30, 2015 and December 31, 2014 consisted of the following: September 30, December 31, 2015 2014 (in thousands) Payroll, bonus and vacation expense $ 2,374 $ 2,876 Non income taxes Royalty expenses Accrued interest Health claims Workers’ compensation & pneumoconiosis Deferred revenues Accrued insured litigation claims Other Total $ 17,761 $ 17,334 The $ 0.7 million and $ 0.5 million accrued for insured litigation claims as of September 30, 2015 and December 31, 201 4, respectively, consists of probable and estimable litigation claims that are the primary obligation of the Partnership. The amount accrued for litigation claims is also due from the Partnership’s insurance providers and is included in Accounts receivable, net of allowance for doubtful accounts on the Partnership’s unaudited condensed consolidated statements of financial position. The Partnership presents this amount on a gross asset and liability basis as a right of setoff does not exist per the accounting guidance in ASC Topic 210. This presentation has no impact on the Partnership’s results of operations or cash flows. The increase in the amount of other accrued liabilities as of September 30, 2015 compared to December 31, 2014 primarily relates to liabilities accrued as part of the Rhino Eastern dissolution completed in January 2015, which is discussed further in Notes 2 and 17. |
Debt
Debt | 9 Months Ended |
Sep. 30, 2015 | |
Debt [Abstract] | |
Debt | 9. DEBT Debt as of September 30, 2015 and December 31, 2014 consisted of the following: September 30, December 31, 2015 2014 (in thousands) Senior secured credit facility with PNC Bank, N.A. $ 48,000 $ 54,450 Other notes payable Total Less current portion (1) Long-term debt $ 2,605 $ 57,222 (1) See Note 1 for discussion on current liability classification as of September 30, 2015. Senior Secured Credit Facility with PNC Bank, N.A. —On July 29, 2011, the Operating Company and the Partnership, as a guarantor, executed an amended and restated senior secured credit facility with PNC Bank, N.A., as administrative agent, and a group of lenders, which are parties thereto. The maximum availability under the amended and restated credit facility was $ 300.0 million, with a one -time option to increase the availability by an amount not to exceed $ 50.0 million. Of the $ 300.0 million, $ 75.0 million was available for letters of credit. As described below, in April 2015 and March 2014 the amended and restated credit facility was amended and the borrowing commitment under the facility was reduced to $100 million, with the amount available for letters of credit reduced to $50 million. Borrowings under the facility bear interest, which varies depending upon the levels of certain financial ratios. As part of the agreement, the Operating Company is required to pay a commitment fee on the unused portion of the borrowing availability that also varies depending upon the levels of certain financial ratios. Borrowings on the amended and restated senior secured credit facility are collateralized by all of the unsecured assets of the Partnership. The amended and restated senior secured credit facility requires the Partnership to maintain certain minimum financial ratios and contains certain restrictive provisions, including among others, restrictions on making loans, investments and advances, incurring additional indebtedness, guaranteeing indebtedness, creating liens and selling or assigning stock. The Partnership was in compliance with all covenants contained in the amended and restated senior secured credit facility as of and for the twelve-month period ended September 30, 2015. The amended and restated senior secured credit facility was previously set to expire in July 2016, but the term was extended to July 2017 pursuant to the third amendment of the facility assuming the Partnership meets certain extension conditions , which are described further below . In March 2014, th e Partnership entered into a second amendment of its amended and restated senior secured credit facility with PNC Bank, N.A., as administrative agent, and a group of lenders, which are parties thereto. This s econd amendment permitted the Partnership to sell certain assets to Gulfport, as described in Note 3, which previously constituted a po rtion of the collateral under the amended and r estated senior secured c redit facility . Th is second a mendment also reduce d the borrowing commitment under the amended and r estated senior secured c redit facility to a maximum of $200 million and alter ed the maximum leverage ratio . In addition, the second amendment adjust ed the maximum investments (other than by the Partnership) in hydrocarbons, hydrocarbon interests and assets and activities related to hydrocarbons, in each case, excluding coal, in an aggregate amount not to exceed $50 million. As part of executing the second amendment to the amended and restated senior secured credit facility, the Operating Company paid a fee of approximately $0.1 million to the lenders in March 201 4 , which was recorded in Debt issuance costs in Other non-current assets on the Partnership’s unaudited condensed consolidated statements of financial position. In addition, the Partnership recorded a non-cash charge of approximately $1.1 million to write-off a portion of its unamortized debt issuance costs since the second amendment reduced the borrowing commitment under the amended and restated senior secured credit facility , which was recorded in Interest expense on the Partnership’s unaudited condensed consolidated statements of operations and comprehensive income. In April 2015, the Partnership entered into a third amendment of its amended and restated senior secured credit facility . The third amendment extend ed the expiration date of the amended and restated credit agreement to July 2017 . The extension is contingent upon (i) the Partnership’s leverage ratio being less than or equal to 2.75 to 1.0 and (ii) the Partnership having liquidity greater than or equal to $15 million , in each case for either the quarter ending December 31, 2015 or March 31, 2016. If both of these conditions are not satisfied for one of the period s , the expiration date of the amended and restated credit agreement will revert to July 2016 . See Note 1 for further discussion regarding the extension of the expiration date of the credit agreement. The third amendment also reduced the borrowing commitment under the credit facility to a maximum of $100 million and redu ced the amount available for letters of credit to $50 million. T he third amendment also provides that the disposition of any assets by the Partnership consisting of net cash proceeds up to an aggregate $35 million shall reduce the total commitment under the facility on a dollar-for-dollar basis by up to a total of $10 million, and any dispositions of assets in excess of $35 million in the aggregate shall reduce the commitment under the facility on a dollar-for-dollar b asis. The third amendment changed the maximum leverage ratio to 3.75 to 1.0 through September 30, 2015. The maximum leverage ratio decreases to 3.5 to 1.0 from October 1, 2015 through December 31, 2015 and then decreases to 3.25 to 1.0 from January 1, 2016 through March 31, 2016. The maximum leverage ratio decreases to 3.0 to 1.0 after March 31, 2016. Notwithstanding the above, the leverage ratio shall be reduced by 0.25 for every $10 million of gross cash proceeds received by the Partnership from the sale of any assets; provided, however, that in no event shall the maximum permitted leverage ratio be reduced below 3.0 to 1.0. The third amendment limit s the Partnership’s quarterly distributions to a maximum of $0.035 per unit unless (i) the pro forma leverage ratio of the Partnership, immediately prior to and after giving effect to such distribution, is less than or equal to 3.0 to 1.0 and (ii) the amount of borrowings available under the credit facility, immediately prior to and after giving effect to such distribution, is at least $20 million. In addit ion, the third amendment removed the interest cove rage ratio covenant and replaced it with a minimum fixed charge coverage ratio, which consist s of the ratio of consolidated EBITDA minus maintenance capital expenditures to fixed charges. Fixed charges are defined in the third amendment to include the sum of cash interest expense, scheduled principal installments on indebtedness (as adjusted for prepayments), dividends and distributions. Co mmencing with the quarter ended September 30, 2015, the fixed charge coverage ratio for the trailing four quarters must be a minimum of 1.1 to 1.0 . The third amendment also limits any investments made by the Partnership, including investments in hydrocarbons, to $10 million provided that the leverage ratio is less than or equal to 3.0 to 1.0 and the borrowers’ available liquidity is at least $20 million. The third amendment does not permit the Partnership to issue any new equity of the Partnership unless the proceeds of such equity issuance are used to reduce the outstanding borrowings under the facility. Issuances of equity under the Partnership’s long-term incentive plan are excluded from this requirement. The third amendment limit s the amount of the Partnership’s capital expenditures to $20.0 million for fiscal year 2015 and limited capital expenditures to $27.5 million for each fiscal year after 2015. However, to the extent that capital expenditures for any fiscal year are less than indicated above, the Partnership may increase the following year’s capital expenditures by the lesser of such unused amount or $5.0 mill ion. As part of executing the third amendment to the amended and restated senior secured credit facility, the Operating Company paid a fee of approximately $2.1 million to the lenders in April 201 5 , which was recorded in Debt issuance costs in Other non-current assets on the Partnership’s unaudited condensed consolidated statements of financial position. In addition, the Partnership recorded a non-cash charge of approximately $0.2 million to write-off a portion of its unamortized debt issuance costs since the third amendment reduced the borrowing commitment under the amended and restated senior secured credit facility , which was recorded in Interest expense on the Partnership’s unaudited condensed consolidated statements of operations and comprehensive income. At September 30, 2015, the Operating Company had borrowings outstanding (excluding letters of credit) of $ 48.0 million at a variable interest rate of LIBOR plus 4.50 % ( 4.70 % at September 30, 2015). In addition, the Operating Company had outstanding letters of credit of approximately $ 21.9 million at a fixed interest rate of 4.50 % at September 30, 2015. Based upon a maximum borrowing capacity of 3.75 times a trailing twelve -month EBITDA calculation (as defined in the credit agreement), the Operating Company had available borrowing capacity of approximately $ 9.0 million at S eptember 30, 2015. |
Asset Retirement Obligations
Asset Retirement Obligations | 9 Months Ended |
Sep. 30, 2015 | |
Asset Retirement Obligations [Abstract] | |
Asset Retirement Obligations | 10. ASSET RETIREMENT OBLIGATIONS The changes in asset retirement obligations for the nine months ended September 30, 2015 and the year ended December 31, 2014 are as follows: September 30, 2015 December 31, 2014 (in thousands) Balance at beginning of period (including current portion) $ 29,883 $ 34,451 Accretion expense Adjustment resulting from addition of property - Adjustment resulting from disposal of property (1) - Adjustments to the liability from annual recosting and other - Reclassification to held for sale (2) Liabilities settled Balance at end of period Less current portion of asset retirement obligation Long-term portion of asset retirement obligation $ 24,527 $ 28,452 (1) The ($2.3 million ) adjustment for the year ended December 31, 2014 primarily relates to the transfer of certain mining permits to a third party that relieved the Partnership of the asset retirement obligations related to these permits. (2) See Note 5 for discussion of the ($6.8 million) reclassification to held for sale. |
Employee Benefits
Employee Benefits | 9 Months Ended |
Sep. 30, 2015 | |
Employee Benefits [Abstract] | |
Employee Benefits | 11. EMPLOYEE BENEFITS I n conjunction with the acquisition of the coal operations of American Electric Power on April 16, 2004, the Operating Company acquired a postretirement benefit plan providing healthcare to eligible employees at its Hopedale operations . The Partnership has no other postretirement plans. Net periodic benefit cost for the three and nine months ended September 30, 2015 and 2014 are as follows: Three months ended September 30, Nine months ended September 30, 2015 2014 2015 2014 (in thousands) Service costs $ 67 $ 74 $ 202 $ 223 Interest cost Amortization of (gain) Total $ 74 $ 41 $ 221 $ 125 For the three and nine months ended September 30, 2015 and 2014, net periodic benefit costs, including the amortization of actuarial gain included in the table above, are included in Cost of operations in the Partnership’s unaudited condensed consolidated statements of operations and comprehensive income. 401(k) Plans —The Operating Company and certain subsidiaries sponsor defined contribution savings plans for all employees. Under one defined contribution savings plan, the Operating Company matches voluntary contributions of participants up to a maximum contribution based upon a percentage of a participant’s salary with an additional matching contribution possible at the Operating Company’s discretion. The expense under these plans for the three and nine months ended September 30, 2015 and 2014 is included in Cost of operations and Selling, general and administrative expense in the Partnership’s unaudited condensed consolidated statements of operations and comprehensive income and was as follows: Three months ended September 30, Nine months ended September 30, 2015 2014 2015 2014 (in thousands) 401(k) plan expense $ 505 $ 583 $ 1,657 $ 1,686 |
Equity-Based Compensation
Equity-Based Compensation | 9 Months Ended |
Sep. 30, 2015 | |
Equity-Based Compensation [Abstract] | |
Equity-Based Compensation | 12. EQUITY-BASED COMPENSATION In October 2010, the General Partner established the Rhino Long-Term Incentive Plan (the “Plan” or “LTIP”). The Plan is intended to promote the interests of the Partnership by providing to employees, consultants and directors of the General Partner, the Partnership or affiliates of either incentive compensation awards to encourage superior performance. The LTIP provides for grants of restricted units, unit options, unit appreciation rights, phantom units, unit awards, and other unit-based awards. As of September 30, 2015 , the General Partner had granted phantom units to certain employees and restricted units and unit awards to its directors. T hese grants consisted of annual restricted unit awards to directors and phantom unit awards with tandem distribution equivalent rights (“DERs”) granted in the first quarter s f rom 2012 through 2015 to certain employees in connection with the prior year’s performance. T he DERs consist of rights to accrue quarterly cash distributions in an amount equal to the cash distribution the Partnership makes to unitholders during the vesting period . T hese awards are subject to service based vesting conditions and any accrued distributions will be forfeited if the related awards fail to vest according to the relevant service based vesting conditions. A total of 33,948 phantom units were granted in the first quarter of 2015 and these awards vest in equal annual installments over a three year period from the date of grant. The remaining terms and conditions of these phantom unit awards are equivalent to the terms described above . T he total fair value of the awards granted in the first quarter of 2015 was approximately $ 0.1 million at the grant date and the fair value of these awards was less than $ 0.1 million as of September 30, 2015. T he expense related to these awards will be recognized ratably over the three year vesting period, plus any mark-to-market adjustments, and the amount of expense recognized in the three and nine months ended September 30, 2015 related to these awards was immaterial . The Partnership accounts for its unit-based awards as liabilities with applicable mark-to-market adjustments at each reporting period because the Compensation Committee of the board of directors of the General Partner has historically elected to pay some of the awards in cash in lieu of issuing common units. |
Commitments And Contingencies
Commitments And Contingencies | 9 Months Ended |
Sep. 30, 2015 | |
Commitments And Contingencies [Abstract] | |
Commitments And Contingencies | 13. COMMITMENTS AND CONTINGENCIES Coal Sales Contracts and Contingencies —As of September 30, 2015 , the Partnership had commitm ents under sales contracts to deliver annually scheduled base quantities of coal as follows: Year Tons (in thousands) Number of customers 2015 Q4 11 2016 6 2017 3 S ome of the contracts have sales price adjustment provisions, subject to certain limitations and adjustments, based on a variety of factors and indices. Purchase Commitments —As of September 30, 2015, the Partnership had approximatel y 0.3 million gallons remaining on a commitment to purchase diesel fuel at fixed prices through December 2015 for approximately $ 0.6 million. Purchased Coal Expenses — The Partnership incurs purchased coal expense from time to time related to coal purchase contracts. Purchase d coal expense from coal purchase contracts for the three and nine months ended September 30, 2015 and 20 14 are included in Cost of operations in the Partnership’s unaudited condensed consolidated statements of operations and comprehensive income and w ere as follows: Three months ended September 30, Nine months ended September 30, 2015 2014 2015 2014 (in thousands) Purchased coal expense $ - $ 1,549 $ (26) $ 5,285 Leases —The Partnership leases various mining, transportation and other equipment under operating leases. The Partnership also leases coal reserves under agreements that call for royalties to be paid as the coal is mined. Lease and royalty expense for the three and nine months ended September 30, 2015 and 20 14 are included in Cost of operations in the Partnership’s unaudited condensed consolidated statements of operations and comprehensive income and was as follows: Three months ended September 30, Nine months ended September 30, 2015 2014 2015 2014 (in thousands) Lease expense $ 2,583 $ 761 $ 5,002 $ 2,619 Royalty expense $ 2,315 $ 2,244 $ 8,742 $ 8,264 Joint Ventures —The Partnership may contribute additional capital to the Timber Wolf joint venture that was formed in the first quarter of 2012. The Partnership made an initial capital contribution of approximately $ 0.1 million during the year ended December 31 , 2012 based upon its proportionate ownership interest. The Partnership may contribute additional capital to the Sturgeon joint venture that was formed in the third quarter of 201 4 . The Partnership made an initial capital contribu tion of $5.0 million during the third quarter ended September 3 0 , 201 4 based upon its proportionate ownership interest. |
Earnings Per Unit ("EPU")
Earnings Per Unit ("EPU") | 9 Months Ended |
Sep. 30, 2015 | |
Earnings Per Unit ("EPU") [Abstract] | |
Earnings Per Unit ("EPU") | 1 4 . EARNINGS PER UNIT (“EPU”) The following table s present a reconciliation of the numerators and denominators of the basic and diluted EPU calculations for the period s ended September 30, 2015 and 2014 : Three months ended September 30, 2015 General Partner Common Unitholders Subordinated Unitholders Numerator: (in thousands, except per unit data) Interest in net (loss): Net (loss) from continuing operations $ (186) $ (5,235) $ (3,885) Net income from discontinued operations - - - Total interest in net (loss) $ (186) $ (5,235) $ (3,885) Impact of subordinated distribution suspension: Net income/(loss) from continuing operations $ - $ - $ - Net income from discontinued operations - - - Interest in net income $ - $ - $ - Interest in net (loss) for EPU purposes: Net (loss) from continuing operations $ (186) $ (5,235) $ (3,885) Net income from discontinued operations - - - Interest in net (loss) $ (186) $ (5,235) $ (3,885) Denominator: Weighted average units used to compute basic EPU n/a Effect of dilutive securities — LTIP awards: Dilutive securities for net (loss) from continuing operations n/a - - Dilutive securities for net income from discontinued operations n/a - - Total dilutive securities n/a - - Weighted average units used to compute diluted EPU n/a Net (loss)/income per limited partner unit, basic Net (loss) per unit from continuing operations n/a $ (0.31) $ (0.31) Net income per unit from discontinued operations n/a - - Net (loss) per common unit, basic n/a $ (0.31) $ (0.31) Net (loss)/income per limited partner unit, diluted Net (loss) per unit from continuing operations n/a $ (0.31) $ (0.31) Net income per unit from discontinued operations n/a - - Net (loss) per common unit, diluted n/a $ (0.31) $ (0.31) Nine months ended September 30, 2015 General Partner Common Unitholders Subordinated Unitholders Numerator: (in thousands, except per unit data) Interest in net (loss)/income: Net (loss) from continuing operations $ (440) $ (12,362) $ (9,179) Net income from discontinued operations Total interest in net (loss) $ (426) $ (11,956) $ (8,877) Impact of subordinated distribution suspension: Net income/(loss) from continuing operations $ 5 $ 139 $ (144) Net income from discontinued operations - - - Interest in net income/(loss) $ 5 $ 139 $ (144) Interest in net (loss)/income for EPU purposes: Net (loss) from continuing operations $ (435) $ (12,223) $ (9,323) Net income from discontinued operations Interest in net (loss) $ (421) $ (11,817) $ (9,021) Denominator: Weighted average units used to compute basic EPU n/a Effect of dilutive securities — LTIP awards: Dilutive securities for net (loss) from continuing operations n/a - - Dilutive securities for net income from discontinued operations n/a - - Total dilutive securities n/a - - Weighted average units used to compute diluted EPU n/a Net (loss)/income per limited partner unit, basic Net (loss) per unit from continuing operations n/a $ (0.73) $ (0.75) Net income per unit from discontinued operations n/a Net income per common unit, basic n/a $ (0.71) $ (0.73) Net (loss)/income per limited partner unit, diluted Net (loss) per unit from continuing operations n/a $ (0.73) $ (0.75) Net income per unit from discontinued operations n/a Net income per common unit, diluted n/a $ (0.71) $ (0.73) Three months ended September 30, 2014 General Partner Common Unitholders Subordinated Unitholders Numerator: (in thousands, except per unit data) Interest in net (loss): Net (loss) from continuing operations $ (177) $ (4,983) $ (3,704) Net (loss) from discontinued operations Total interest in net (loss) $ (178) $ (5,011) $ (3,718) Impact of subordinated distribution suspension: Net income/(loss) from continuing operations $ 12 $ 349 $ (361) Net income from discontinued operations - - - Interest in net income/(loss) $ 12 $ 349 $ (361) Interest in net (loss) for EPU purposes: Net (loss) from continuing operations $ (165) $ (4,634) $ (4,065) Net (loss) from discontinued operations Interest in net (loss) $ (166) $ (4,662) $ (4,079) Denominator: Weighted average units used to compute basic EPU n/a Effect of dilutive securities — LTIP awards: Dilutive securities for net (loss) from continuing operations n/a - - Dilutive securities for net income from discontinued operations n/a - - Total dilutive securities n/a - - Weighted average units used to compute diluted EPU n/a Net (loss)/income per limited partner unit, basic Net income per unit from continuing operations n/a $ (0.28) $ (0.33) Net income per unit from discontinued operations n/a Net income per common unit, basic n/a $ (0.28) $ (0.33) Net (loss)/income per limited partner unit, diluted Net income per unit from continuing operations n/a $ (0.28) $ (0.33) Net income per unit from discontinued operations n/a Net income per common unit, diluted n/a $ (0.28) $ (0.33) Nine months ended September 30, 2014 General Partner Common Unitholders Subordinated Unitholders Numerator: (in thousands, except per unit data) Interest in net (loss)/income: Net (loss) from continuing operations $ (413) $ (11,610) $ (8,634) Net income from discontinued operations Total interest in net income $ 2,195 $ 61,682 $ 45,882 Impact of subordinated distribution suspension: Net income/(loss) from continuing operations $ 241 $ 6,545 $ (6,786) Net income from discontinued operations - - - Interest in net income/(loss) $ 241 $ 6,545 $ (6,786) Interest in net (loss)/income for EPU purposes: Net (loss) from continuing operations $ (172) $ (5,065) $ (15,420) Net income from discontinued operations Interest in net income $ 2,436 $ 68,227 $ 39,096 Denominator: Weighted average units used to compute basic EPU n/a Effect of dilutive securities — LTIP awards: Dilutive securities for net income from continuing operations and discontinued operations n/a - Weighted average units used to compute diluted EPU n/a Net income per limited partner unit, basic Net income per unit from continuing operations n/a $ (0.31) $ (1.25) Net income per unit from discontinued operations n/a Net income per common unit, basic n/a $ 4.09 $ 3.15 Net income per limited partner unit, diluted Net income per unit from continuing operations n/a $ (0.31) $ (1.25) Net income per unit from discontinued operations n/a Net income per common unit, diluted n/a $ 4.09 $ 3.15 Diluted EPU gives effect to all dilutive potential common units outstanding during the period using the treasury stock method. Diluted EPU excludes all dilutive potential units calculated under the treasury stock method if their effect is anti-dilutive. Since the Partnership incurred a total net loss for the three and nine months ended September 30, 2015 and the three months ended September 30, 2014, all potential dilutive units were excluded from the diluted EPU calculat ion for the s e period s because w hen an entity incurs a net loss in a period, potential dilutive units shall not be included in the computation of diluted EPU since their effect will always be anti-dilutive. For the nine months ended September 30, 2014, approximately 6,000 LTIP granted phantom units were anti-dilutive . |
Major Customers
Major Customers | 9 Months Ended |
Sep. 30, 2015 | |
Major Customers [Abstract] | |
Major Customers | 15. MAJOR CUSTOMERS The Partnership had revenues or receivables from the following major customers that in each period equaled or exceeded 10% of revenues (Note: customers with “n/a” had revenue below the 10% threshold in any period where this is indicated): September 30 December 31 Nine months Nine months 2015 2014 ended ended Receivable Receivable September 30 September 30 Balance Balance 2015 Sales 2014 Sales (in thousands) NRG Energy, Inc. (fka GenOn Energy, Inc.) $ 1,144 $ 2,932 $ 20,356 n/a PPL Corporation n/a PacifiCorp Energy n/a n/a |
Fair Value Of Financial Instrum
Fair Value Of Financial Instruments | 9 Months Ended |
Sep. 30, 2015 | |
Fair Value Of Financial Instruments [Abstract] | |
Fair Value Of Financial Instruments | 16. FAIR VALUE OF FINANCIAL INSTRUMENTS The book values of cash and cash equivalents, accounts receivable and accounts payable are considered to be representative of their respective fair values because of the immediate short-term maturity of these financial instruments. The fair value of the Partnership’s amended and restated senior secure d credit facility was based upon a Level 2 measurement utilizing a market approach , which incorporated market-based interest rate information with credit risks similar to the Partnership. The fair value of the Partnership’s amended and restated senior secured credit facility approximates the carrying value at September 30, 2015 . As of September 30, 2015, the Partnership had nonrecurring fair value measurements related to its assets and liabilities held for sale. These assets and liabilities were the result of the Partnership’s impairment of its Deane complex (see Note 5). The fair value of the assets and liabilities held for sale at September 30 , 201 5 were based upon the highest and best use of the respective nonfinancial assets and liabilities. T he Partnership had approximately $8.8 million of assets and $6.8 million of liabilities held for sale at September 30 , 201 5 related to the Deane complex discussed in Note 5. The fair values of the Partnership’s assets and liabilities held for sale at September 30 , 201 5 for the Deane complex were based upon non-binding contractual negotiations with third parties for the potential sale of the Deane complex. The fair values of the Partnership’s assets and liabilities held for sale at September 30, 2015 for the Deane complex based are Level 2 measurements. As of June 30, 2015, the Partnership had a nonrecurring fair value measurement related to its Cana Woodford oil and natural gas mineral rights. These mineral right assets were classified as held for sale as of June 30, 2015 and the sale of these mineral rights was completed in August 2015. See Note 5 for further information on the Cana Woodford sale. For the year ended December 31, 2014, the Partnership had nonrecurring fair value measurements related to its assets and liabilities held for sale. These assets and liabilities were the result of the Partnership’s long-lived impairment actions conducted during the fourth quarter of 2014. The fair value of the assets and liabilities held for sale at December 31, 2014 were based upon the highest and best use of the respective nonfinancial assets and liabilities. The Partnership had approximately $6.9 million in land value related to its Red Cliff assets that were classified as held for sale at December 31, 2014. The fair value of the Partnership’s land held for sale at December 31, 2014 is a Level 2 measurement. Additionally, the Partnership had approximately $2.4 million of assets and $2.2 million of liabilities held for sale at December 31, 2014 related to the Bevins Branch operation discussed in Note 5. The fair values of the Partnership’s assets and liabilities held for sale at December 31, 2014 for the Bevins Branch operation are Level 3 measurements . As of September 30, 2015, the Partnership ’s nonrecurring fair value measurements related to its Red Cliff asset s held for sale had not changed from December 31, 2014. The Partnership completed the sale of its Bevins Branch assets and liabilities in May 2015. |
Supplemental Disclosures Of Cas
Supplemental Disclosures Of Cash Flow Information | 9 Months Ended |
Sep. 30, 2015 | |
Supplemental Disclosures Of Cash Flow Information [Abstract] | |
Supplemental Disclosures Of Cash Flow Information | 17. SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION The u naudited c ondensed c onsolidated s tat ement of cash flows for the nine months ended September 30, 2015 excludes approximately $0.1 million of property additions, which are recorded in accounts payable . In January 2015, the Partnership dissolved the Rhino Eastern joint venture with Patriot. As part of the dissolution, t he Partnership retained coal reserves, a prepaid advanced royalty balance and other assets and liabilities . In addition, th e Partnership and Patriot agreed to a dissolution payment as part of the dissolution based upon a final working capital adjustment calculation , which is a liability of the Partnership. The Partnership recorded the dissolution of the joint venture by removing the investment in the Rhino Eastern unconsolidated subsidiary and recording the specific assets and liabilities retained in the dissolution. The dissolution of the Rhino Eastern joint venture completed in January 2015 had no impact on the Partnership’s unconsolidated statements of operations and comprehensive income for the three and nine months ended September 30 , 2015 . The unaudited condensed consolidated state ment of cash flows for the nine months ended September 30 , 2015 excludes the removal of the investment in the unconsolidated subsidiary and the recognition of the retained assets and liabilities, which are detailed in the table below. (in thousands) Coal properties (incl asset retirement costs) $ 12,104 Advance royalties, net of current portion Other non-current assets - acquired Other non-current assets - written off Accrued expenses and other Asset retirement obligations Net assets acquired Investment in unconsolidated affiliates-Rhino Eastern - written off $ (13,150) The unaudited condensed consolidated statement of cash flows for the nine months ended September 30, 2014 excludes approximately $0.1 million of property additions, which are recorded in accounts payable , and approximately $0.3 million related to the value of phantom and restricted units that were issued to certain employees and directors of the G eneral P artner. |
Segment Information
Segment Information | 9 Months Ended |
Sep. 30, 2015 | |
Segment Information [Abstract] | |
Segment Information | 18. SEGMENT INFORMATION The Partnership produces and markets coal from surface and underground mines in Kentucky, West Virginia, Ohio and Utah . The Partnership sells primarily to electric utilities in the United States . T he Partnership also leases coal reserves to third parties in exchange for royalty revenues. For the three and nine months ended September 30, 2015, the Partnership had four reportable segments: Central Appalachia (comprised of both surface and underground mines located in Eastern Kentucky and Southern West Virginia, along with the Elk Horn coal leasing operations ), Northern Appalachia (comprised of both surface and underground mines located in Ohio), Rhino Western (comprised of an underground mine in Utah) and Illinois Basin (comprised of an underground mine in western Kentucky). The Partnership’s Other category is comprised of the Partnership’s ancillary businesses and its remaining oil and natural gas activities. The Partnership has not provided disclosure of total expenditures by segment for long-lived assets, as the Partnership does not maintain discrete financial information concerning segment expenditures for long lived assets, and accordingly such information is not provided to the Partnership’s chief operating decision maker. The information provided in the following tables represents the primary measures used to assess segment performance by the Partnership’s chief operating decision maker. The Partnership historically accounted for the Rhino Eastern joint venture (formed in the year ended December 31, 2008) under the equity method. Under the equity method of accounting, the Partnership ha d historically only presented limited information (net income). The Partnership considered this operation to comprise a separate operating segment prior to its dissolut ion in January 2015. With the dissolution of the Rhino Eastern joint venture in January 2015, the Partnership had no operating activities for this joint venture for the three and nine months ended September 30, 2015. Reportable segment results of operations for the three months ended September 30, 2015 are as follows (Note: “DD&A” refers to depreciation, depletion and amortization): Central Northern Rhino Illinois Total Appalachia Appalachia Western Basin Other Consolidated (in thousands) Total revenues $ 17,231 $ 18,382 $ 8,699 $ 9,649 $ 192 $ 54,153 DD&A Interest expense Net income (loss) from continuing operations $ (7,361) $ 1,959 $ (526) $ (3,067) $ (311) $ (9,306) Reportable segment results of operations for the nine months ended September 30, 2015 are as follows : Central Northern Rhino Illinois Total Appalachia Appalachia Western Basin Other Consolidated (in thousands) Total revenues $ 58,494 $ 52,469 $ 27,251 $ 27,412 $ 1,476 $ 167,102 DD&A Interest expense Net income (loss) from continuing operations $ (11,415) $ 4,643 $ (3,055) $ (10,256) $ (1,898) $ (21,981) Reportable segment results of operations for the three months ended September 30, 2014 are as follows: Eastern Met Equity Equity Central Northern Rhino Illinois Complete Method Method Total Appalachia Appalachia Western Basin Basis Eliminations Presentation Other Consolidated (in thousands) Total revenues $ 27,780 $ 17,071 $ 12,260 $ 3,177 $ 3,920 $ (3,920) $ - $ 1,071 $ 61,359 DD&A - Interest expense - Net income (loss) from continuing operations $ (4,724) $ (716) $ 1,199 $ (2,417) $ (3,808) $ 1,866 $ (1,942) $ (264) $ (8,864) Reportable segment results of operations for the nine months ended September 30, 2014 are as follows: Eastern Met Equity Equity Central Northern Rhino Illinois Complete Method Method Total Appalachia Appalachia Western Basin Basis Eliminations Presentation Other Consolidated (in thousands) Total revenues $ 85,600 $ 53,280 $ 31,849 $ 3,480 $ 16,649 $ (16,649) $ - $ 2,978 $ 177,187 DD&A - Interest expense - Net income (loss) from continuing operations $ (12,947) $ 733 $ 129 $ (2,304) $ (9,071) $ 4,445 $ (4,626) $ (1,642) $ (20,657) |
Subsequent Events
Subsequent Events | 9 Months Ended |
Sep. 30, 2015 | |
Subsequent Events [Abstract] | |
Subsequent Events | 19. SUBSEQUENT EVENTS On October 19, 2015 , the Partnership announced it ha d continued the suspen sion of the cash distribution for its common units , which was initially suspended for the quarter ended June 30, 2015 . No distribution will be paid for common or subordinated units for the quarter ended September 30, 2015. The Partnership’s common units accrue arrearages every quarter when the distribution level is below the minimum level of $0.445 per unit, as outlined in the Partnership’s limited partnership agreement. The Partnership initially lowered its quarterly common unit distribution below the minimum level of $0.445 per unit with the quarter ended September 30, 2014. Thus, t he Partnership’s distributions for each of the quarters ended September 30, 2014 through the current quarter ended September 30, 2015 were below the minimum level and the current amount of accumulated arrearages as of September 30 , 201 5 related to the common unit distribution is approximately $36.5 million . On October 7, 2015, the Partnership was notified by the New York Stock Exchange (“NYSE”) that the average closing price of its common units had fallen below $1.00 per unit over a period of 30 consecutive trading days, which is the minimum average unit price for continued listing on the NYSE under Rule 802.01C of the NYSE Listed Company Manual. Under the NYSE’s rules, the Partnership has six months following receipt of the notification to regain compliance with the minimum unit price requirement . |
Summary Of Significant Accoun26
Summary Of Significant Accounting Policies And General (Policies) | 9 Months Ended |
Sep. 30, 2015 | |
Summary Of Significant Accounting Policies And General [Abstract] | |
Investments In Unconsolidated Affiliates | Investments in Unconsolidated Affiliates. Investments in other entities are accounted for using the consolidation, equity method or cost basis depending upon the level of ownership, the Partnership’s ability to exercise significant influence over the operating and financial policies of the investee and whether the Partnership is determined to be the primary beneficiary of a variable interest entity. Equity investments are recorded at original cost and adjusted periodically to recognize the Partnership’s proportionate share of the investees’ net income or losses after the date of investment. Any losses from the Partnership’s equity method investment are absorbed by the Partnership based upon its proportionate ownership percentage. If losses are incurred that exceed the Partnership’s investment in the equity method entity, then the Partnership must continue to record its proportionate share of losses in excess of its investment. Investments are written down only when there is clear evidence that a decline in value that is other than temporary has occurred. In May 2008, the Operating Company entered into a joint venture, Rhino Eastern LLC (“Rhino Eastern”), with an affiliate of Patriot Coal Corporation (“Patriot”) to acquire the Eagle mining complex. To initially capitalize the joint venture, the Operating Company contributed approximately $ 16.1 million for a 51 % ownership interest in the joint venture. The Partnership accounted for the investment in the joint venture and its results of operations under the equity method. The Partnership considered the operations of this entity to comprise a reporting segment (“Eastern Met”) and has provided additional detail related to this operation in Note 18, “Segment Information.” In January 2015, the Partnership completed a Membership Transfer Agreement (the “Transfer Agreement”) with an affiliate of Patriot that terminated the Rhino Eastern joint venture. Pursuant to the Transfer Agreement, Patriot sold and assigned its 49% membership interest in the Rhino Eastern joint venture to the Partnership and, in consideration of this transfer, Patriot received certain fixed assets, leased equipment and coal reserves associated with the mining area previously operated by the Rhino Eastern joint venture. Patriot also assumed substantially all of the active workforce related to the Eagle mining area that was previously employed by the Rhino Eastern joint venture. The Partnership retained approximately 34 million tons of coal reserves that are not related to the Eagle mining area as well as a prepaid advanced royalty balance. As part of the closing of the Transfer Agreement, the Partnership and Patriot agreed to a dissolution payment based upon a final working capital adjustment calculation as defined in the Transfer Agreement. As of December 31, 2014, the Partnership recorded an impairment charge of approximately $5.9 million related to its investment in the Rhino Eastern joint venture based upon the fair value of the assets received and liabilities assumed in the dissolution of the joint venture compared to the Partnership’s carrying amount of its investment in the joint venture. Refer to Note 17 for further information on the financial statement impact of the Rhino Eastern dissolution completed in January 2015. In December 2012, the Partnership made an initial investment of approximately $ 2.0 million in a new joint venture, Muskie Proppant LLC (“Muskie”), with affiliates of Wexford Capital LP (“Wexford Capital”). Muskie was formed to provide sand for fracking operations to drillers in the Utica Shale region and other oil and natural gas basins in the United States. The Partnership accounted for the investment in the joint venture and results of operations under the equity method. The Partnership recorded its proportionate share of the operating gains/( losses ) for Muskie for the three and nine months ended September 3 0 , 2014 of approximately $ 37,000 and ($81,000) , respectively . During the nine months ended September 30 , 2014, the Partnership contributed additional capital based upon its ownership share to the Muskie joint venture in the amount of $ 0.2 million. During 2013 the Partnership provided a loan to Muskie totaling approximately $0.2 million which was fully repaid in November 2014 in conjunction with the Partnership’s contribution of its interest in Muskie to Mammoth Energy Partners LP (“Mammoth”), which is discussed below. In November 2014, the Partnership contributed its investment interest in Muskie to Mammoth in return for a limited partner interest in Mammoth. Mammoth was formed to own various companies that provide services to companies who engage in the exploration and development of North American onshore unconventional oil and natural gas reserves. Mammoth’s companies provide services that include completion and production services, contract land and directional drilling services and remote accommodation services. The non-cash transaction was a contribution of the Partnership’s investment interest in the Muskie entity for an investment interest in Mammoth. Thus, the Partnership determined that the non-cash exchange of the Partnership’s ownership interest in Muskie did not result in any gain or loss. As of September 30 , 2015, the Partnership has recorded its investment in Mammoth of $1.9 million as a long-term asset, which the Partnership has accounted for as a cost method investment based upon its ownership percentage. The Partnership has included its investment in Mammoth and its prior investment in Muskie in its Other category for segment reporting purposes. In September 2014, the Partnership made an initial investment of $5.0 million in a new joint venture, Sturgeon Acquisitions LLC (“Sturgeon”), with affiliates of Wexford Capital and Gulfport Energy (“Gulfport”), a publicly traded company. Sturgeon subsequently acquired 100% of the outstanding equity interests of certain limited liability companies located in Wisconsin that provide frac sand for oil and natural gas drillers in the United States. The Partnership accounts for the investment in the joint venture and results of operations under the equity method. The Partnership recorded its proportionate share of the operating income for Sturgeon for the three and nine months ended September 30 , 2015 of approximately $0.1 million and $0.3 million, respectively . The Partnership has included the operating activities of Sturgeon in its Other category for segment reporting purposes. |
Recently Issued Accounting Standards | Recently Issued Accounting Standards. In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, “Revenue from Contracts with Customers” (“ASU 2014-09”). ASU 2014-09 clarifies the principles for recognizing revenue and establishes a common revenue standard for U.S. financial reporting purposes. The guidance in ASU 2014-09 affects any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets unless those contracts are within the scope of other standards (for example, insurance contracts or lease contracts). ASU 2014-09 supersedes the revenue recognition requirements in Accounting Standards Codification (“ ASC ”) 605, Revenue Recognition , and most industry-specific accounting guidance. Additionally, ASU 2014-09 supersedes some cost guidance included in ASC 605-35, Revenue Recognition—Construction-Type and Production-Type Contracts . In addition, the existing requirements for the recognition of a gain or loss on the transfer of nonfinancial assets that are not in a contract with a customer (for example, assets within the scope of ASC 360, Property, Plant, and Equipment , and intangible assets within the scope of ASC 350, Intangibles—Goodwill and Other ) are amended to be consistent with the guidance on recognition and measurement (including the constraint on revenue) in ASU 2014-09. In July 2015, the FASB approved to defer the effective date of ASU 2014-09 by one year. Accordingly, ASU 2014 -09 will be effective for public entities for annual reporting periods beginning after December 15, 2017 and interim periods therein . The Partnership is currently evaluating the requirements of this new accounting guidance. In January 2015, the FASB issued ASU 2015-01, “Income S tatement-Extraordinary and Unusual Items”. ASC 225-20, Income Statement—Extraordinary and Unusual Items, required that an entity separately classify, present, and disclose extraordinary events and transactions. ASU 2015-01 eliminates the concept of extraordinary items. The amendments in ASU 2015-01 are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. A reporting entity may apply the amendments prospectively. A reporting entity also may apply the amendments retrospectively to all prior periods presented in the financial statements. Early adoption is permitted provided that the guidance is applied from the beginning of the fiscal year of adoption. The effective date is the same for both public business entities and all other entities. The adoption of ASU 2015-01 on January 1, 2016 is not expected to have a material impact on the Partnership’s financial statements. In February 2015, the FASB issued ASU 2015-02, “Consolidation”. ASU 2015-02 affects reporting entities that are required to evaluate whether they should consolidate certain legal entities. All legal entities are subject to reevaluation under the revised consolidation model. Specifically, the amendments of ASU 2015-02: a) modify the evaluation of whether limited partnerships and similar legal entities are variable interest entities (VIEs) or voting interest entities, b) eliminate the presumption that a general partner should consolidate a limited partnership, c) affect the consolidation analysis of reporting entities that are involved with VIEs, particularly those that have fee arrangements and related party relationships and d) provide a scope exception from consolidation guidance for reporting entities with interests in legal entities that are required to comply with or operate in accordance with requirements that are similar to those in Rule 2a-7 of the Investment Company Act of 1940 for registered money market funds. ASU 2015-02 is effective for public business entities for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted, including adoption in an interim period. If an entity early adopts the amendments in an interim period, any adjustments should be reflected as of the beginning of the fiscal year that includes that interim period. A reporting entity may apply the amendments in this Update using a modified retrospective approach by recording a cumulative-effect adjustment to equity as of the beginning of the fiscal year of adoption. A reporting entity also may apply the amendments retrospectively. The adoption of ASU 2015-02 on January 1, 2016 is not expected to have a material impact on the Partnership’s financial statements. In April 2015, the FASB issued ASU 2015-03, “Interest—Imputation of Interest (Subtopic 835-30)-Simplifying the Presentation of Debt Issuance Costs”. ASU 2015-03 requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. Prior to ASU 2015-03, debt issuance costs have been presented in the balance sheet as a deferred charge, or asset. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this ASU. For public business entities, ASU 2015-03 is effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Early adoption of ASU 2105-03 is permitted for financial statements that have not been previously issued. In addition, ASU 2015-03 requires entities to apply the new guidance on a retrospective basis, wherein the balance sheet of each individual period presented should be adjusted to reflect the period-specific effects of applying the new guidance. The Partnership is currently evaluating the requirements of this new accounting guidance. |
Prepaid Expenses And Other Cu27
Prepaid Expenses And Other Current Assets (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Prepaid Expenses And Other Current Assets [Abstract] | |
Schedule Of Prepaid Expenses And Other Current Assets | September 30, December 31, 2015 2014 (in thousands) Other prepaid expenses $ 547 $ 827 Prepaid insurance Prepaid leases Supply inventory Deposits Total Prepaid expenses and other $ 3,385 $ 3,974 |
Property, Plant And Equipment (
Property, Plant And Equipment (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Property, Plant And Equipment [Abstract] | |
Property, Plant And Equipment By Major Classification | Useful Lives September 30, 2015 December 31, 2014 (in thousands) Land and land improvements $ 18,799 $ 18,845 Mining and other equipment and related facilities 2 - 20 Years Mine development costs 1 - 15 Years Coal properties 1 - 15 Years Oil and natural gas properties - Construction work in process Total Less accumulated depreciation, depletion and amortization Net $ 362,300 $ 383,437 |
Depreciation, Depletion, And Amortization | Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 (in thousands) Depreciation expense-mining and other equipment and related facilities $ 7,202 $ 7,931 $ 22,171 $ 22,652 Depletion expense for coal properties and oil and natural gas properties Amortization expense for mine development costs Amortization expense for intangible assets Amortization expense for asset retirement costs Total depreciation, depletion and amortization $ 8,248 $ 9,627 $ 25,695 $ 27,789 |
Goodwill And Intangible Assets
Goodwill And Intangible Assets (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Goodwill And Intangible Assets [Abstract] | |
Schedule Of Intangible Assets By Major Class | Intangible assets as of September 30, 2015 consisted of the following: Gross Net Carrying Accumulated Carrying Intangible Asset Amount Amortization Amount (in thousands) Patent $ 728 $ 282 $ 446 Developed Technology Trade Name Customer List Total $ 1,460 $ 453 $ 1,007 Intangible assets as of December 31, 2014 consisted of the following: Gross Net Carrying Accumulated Carrying Intangible Asset Amount Amortization Amount (in thousands) Patent $ 728 $ 250 $ 478 Developed Technology Trade Name Customer List Total $ 1,460 $ 393 $ 1,067 |
Future Amortization Expense | Developed Customer Patent Technology Trade Name List Total (in thousands) 2015 (from Oct 1 to Dec 31) $ 11 $ 1 $ 2 $ 6 $ 20 2016 2017 2018 2019 |
Other Non-Current Assets (Table
Other Non-Current Assets (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Other Non-Current Assets [Abstract] | |
Schedule Of Other Non-Current Assets | September 30, December 31, 2015 2014 (in thousands) Deposits and other $ 155 $ 347 Debt issuance costs—net Non-current receivable Deferred expenses Total $ 17,161 $ 16,410 |
Accrued Expenses And Other Cu31
Accrued Expenses And Other Current Liabilities (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Accrued Expenses And Other Current Liabilities [Abstract] | |
Schedule Of Accrued Expenses And Other Current Liabilities | September 30, December 31, 2015 2014 (in thousands) Payroll, bonus and vacation expense $ 2,374 $ 2,876 Non income taxes Royalty expenses Accrued interest Health claims Workers’ compensation & pneumoconiosis Deferred revenues Accrued insured litigation claims Other Total $ 17,761 $ 17,334 |
Debt (Tables)
Debt (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Debt [Abstract] | |
Schedule Of Debt | September 30, December 31, 2015 2014 (in thousands) Senior secured credit facility with PNC Bank, N.A. $ 48,000 $ 54,450 Other notes payable Total Less current portion (1) Long-term debt $ 2,605 $ 57,222 |
Asset Retirement Obligations (T
Asset Retirement Obligations (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Asset Retirement Obligations [Abstract] | |
Schedule Of Asset Retirement Obligations | September 30, 2015 December 31, 2014 (in thousands) Balance at beginning of period (including current portion) $ 29,883 $ 34,451 Accretion expense Adjustment resulting from addition of property - Adjustment resulting from disposal of property (1) - Adjustments to the liability from annual recosting and other - Reclassification to held for sale (2) Liabilities settled Balance at end of period Less current portion of asset retirement obligation Long-term portion of asset retirement obligation $ 24,527 $ 28,452 (1) The ($2.3 million ) adjustment for the year ended December 31, 2014 primarily relates to the transfer of certain mining permits to a third party that relieved the Partnership of the asset retirement obligations related to these permits. (2) See Note 5 for discussion of the ($6.8 million) reclassification to held for sale. |
Employee Benefits (Tables)
Employee Benefits (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Employee Benefits [Abstract] | |
Components Of Net Periodic Benefit Cost | Three months ended September 30, Nine months ended September 30, 2015 2014 2015 2014 (in thousands) Service costs $ 67 $ 74 $ 202 $ 223 Interest cost Amortization of (gain) Total $ 74 $ 41 $ 221 $ 125 |
Schedule Of Expense Under Defined Contribution Savings Plans | Three months ended September 30, Nine months ended September 30, 2015 2014 2015 2014 (in thousands) 401(k) plan expense $ 505 $ 583 $ 1,657 $ 1,686 |
Commitments And Contingencies (
Commitments And Contingencies (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Commitments And Contingencies [Abstract] | |
Schedule Of Delivery Commitments | Year Tons (in thousands) Number of customers 2015 Q4 11 2016 6 2017 3 |
Schedule Of Purchased Coal Expenses | Three months ended September 30, Nine months ended September 30, 2015 2014 2015 2014 (in thousands) Purchased coal expense $ - $ 1,549 $ (26) $ 5,285 |
Schedule Of Lease And Royalty Expense | Three months ended September 30, Nine months ended September 30, 2015 2014 2015 2014 (in thousands) Lease expense $ 2,583 $ 761 $ 5,002 $ 2,619 Royalty expense $ 2,315 $ 2,244 $ 8,742 $ 8,264 |
Earnings Per Unit ("EPU") (Tabl
Earnings Per Unit ("EPU") (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Earnings Per Unit ("EPU") [Abstract] | |
Schedule Of Calculation Of Numerator And Denominator In Earnings Per Share | Three months ended September 30, 2015 General Partner Common Unitholders Subordinated Unitholders Numerator: (in thousands, except per unit data) Interest in net (loss): Net (loss) from continuing operations $ (186) $ (5,235) $ (3,885) Net income from discontinued operations - - - Total interest in net (loss) $ (186) $ (5,235) $ (3,885) Impact of subordinated distribution suspension: Net income/(loss) from continuing operations $ - $ - $ - Net income from discontinued operations - - - Interest in net income $ - $ - $ - Interest in net (loss) for EPU purposes: Net (loss) from continuing operations $ (186) $ (5,235) $ (3,885) Net income from discontinued operations - - - Interest in net (loss) $ (186) $ (5,235) $ (3,885) Denominator: Weighted average units used to compute basic EPU n/a Effect of dilutive securities — LTIP awards: Dilutive securities for net (loss) from continuing operations n/a - - Dilutive securities for net income from discontinued operations n/a - - Total dilutive securities n/a - - Weighted average units used to compute diluted EPU n/a Net (loss)/income per limited partner unit, basic Net (loss) per unit from continuing operations n/a $ (0.31) $ (0.31) Net income per unit from discontinued operations n/a - - Net (loss) per common unit, basic n/a $ (0.31) $ (0.31) Net (loss)/income per limited partner unit, diluted Net (loss) per unit from continuing operations n/a $ (0.31) $ (0.31) Net income per unit from discontinued operations n/a - - Net (loss) per common unit, diluted n/a $ (0.31) $ (0.31) Nine months ended September 30, 2015 General Partner Common Unitholders Subordinated Unitholders Numerator: (in thousands, except per unit data) Interest in net (loss)/income: Net (loss) from continuing operations $ (440) $ (12,362) $ (9,179) Net income from discontinued operations Total interest in net (loss) $ (426) $ (11,956) $ (8,877) Impact of subordinated distribution suspension: Net income/(loss) from continuing operations $ 5 $ 139 $ (144) Net income from discontinued operations - - - Interest in net income/(loss) $ 5 $ 139 $ (144) Interest in net (loss)/income for EPU purposes: Net (loss) from continuing operations $ (435) $ (12,223) $ (9,323) Net income from discontinued operations Interest in net (loss) $ (421) $ (11,817) $ (9,021) Denominator: Weighted average units used to compute basic EPU n/a Effect of dilutive securities — LTIP awards: Dilutive securities for net (loss) from continuing operations n/a - - Dilutive securities for net income from discontinued operations n/a - - Total dilutive securities n/a - - Weighted average units used to compute diluted EPU n/a Net (loss)/income per limited partner unit, basic Net (loss) per unit from continuing operations n/a $ (0.73) $ (0.75) Net income per unit from discontinued operations n/a Net income per common unit, basic n/a $ (0.71) $ (0.73) Net (loss)/income per limited partner unit, diluted Net (loss) per unit from continuing operations n/a $ (0.73) $ (0.75) Net income per unit from discontinued operations n/a Net income per common unit, diluted n/a $ (0.71) $ (0.73) Three months ended September 30, 2014 General Partner Common Unitholders Subordinated Unitholders Numerator: (in thousands, except per unit data) Interest in net (loss): Net (loss) from continuing operations $ (177) $ (4,983) $ (3,704) Net (loss) from discontinued operations Total interest in net (loss) $ (178) $ (5,011) $ (3,718) Impact of subordinated distribution suspension: Net income/(loss) from continuing operations $ 12 $ 349 $ (361) Net income from discontinued operations - - - Interest in net income/(loss) $ 12 $ 349 $ (361) Interest in net (loss) for EPU purposes: Net (loss) from continuing operations $ (165) $ (4,634) $ (4,065) Net (loss) from discontinued operations Interest in net (loss) $ (166) $ (4,662) $ (4,079) Denominator: Weighted average units used to compute basic EPU n/a Effect of dilutive securities — LTIP awards: Dilutive securities for net (loss) from continuing operations n/a - - Dilutive securities for net income from discontinued operations n/a - - Total dilutive securities n/a - - Weighted average units used to compute diluted EPU n/a Net (loss)/income per limited partner unit, basic Net income per unit from continuing operations n/a $ (0.28) $ (0.33) Net income per unit from discontinued operations n/a Net income per common unit, basic n/a $ (0.28) $ (0.33) Net (loss)/income per limited partner unit, diluted Net income per unit from continuing operations n/a $ (0.28) $ (0.33) Net income per unit from discontinued operations n/a Net income per common unit, diluted n/a $ (0.28) $ (0.33) Nine months ended September 30, 2014 General Partner Common Unitholders Subordinated Unitholders Numerator: (in thousands, except per unit data) Interest in net (loss)/income: Net (loss) from continuing operations $ (413) $ (11,610) $ (8,634) Net income from discontinued operations Total interest in net income $ 2,195 $ 61,682 $ 45,882 Impact of subordinated distribution suspension: Net income/(loss) from continuing operations $ 241 $ 6,545 $ (6,786) Net income from discontinued operations - - - Interest in net income/(loss) $ 241 $ 6,545 $ (6,786) Interest in net (loss)/income for EPU purposes: Net (loss) from continuing operations $ (172) $ (5,065) $ (15,420) Net income from discontinued operations Interest in net income $ 2,436 $ 68,227 $ 39,096 Denominator: Weighted average units used to compute basic EPU n/a Effect of dilutive securities — LTIP awards: Dilutive securities for net income from continuing operations and discontinued operations n/a - Weighted average units used to compute diluted EPU n/a Net income per limited partner unit, basic Net income per unit from continuing operations n/a $ (0.31) $ (1.25) Net income per unit from discontinued operations n/a Net income per common unit, basic n/a $ 4.09 $ 3.15 Net income per limited partner unit, diluted Net income per unit from continuing operations n/a $ (0.31) $ (1.25) Net income per unit from discontinued operations n/a Net income per common unit, diluted n/a $ 4.09 $ 3.15 |
Major Customers (Tables)
Major Customers (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Major Customers [Abstract] | |
Major Customers | September 30 December 31 Nine months Nine months 2015 2014 ended ended Receivable Receivable September 30 September 30 Balance Balance 2015 Sales 2014 Sales (in thousands) NRG Energy, Inc. (fka GenOn Energy, Inc.) $ 1,144 $ 2,932 $ 20,356 n/a PPL Corporation n/a PacifiCorp Energy n/a n/a |
Supplemental Disclosures Of C38
Supplemental Disclosures Of Cash Flow Information (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Supplemental Cash Flow Elements [Abstract] | |
Schedule Of Cash Flow, Supplemental Disclosures | (in thousands) Coal properties (incl asset retirement costs) $ 12,104 Advance royalties, net of current portion Other non-current assets - acquired Other non-current assets - written off Accrued expenses and other Asset retirement obligations Net assets acquired Investment in unconsolidated affiliates-Rhino Eastern - written off $ (13,150) |
Segment Information (Tables)
Segment Information (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Segment Information [Abstract] | |
Reportable Segment Results Of Operations | Reportable segment results of operations for the three months ended September 30, 2015 are as follows (Note: “DD&A” refers to depreciation, depletion and amortization): Central Northern Rhino Illinois Total Appalachia Appalachia Western Basin Other Consolidated (in thousands) Total revenues $ 17,231 $ 18,382 $ 8,699 $ 9,649 $ 192 $ 54,153 DD&A Interest expense Net income (loss) from continuing operations $ (7,361) $ 1,959 $ (526) $ (3,067) $ (311) $ (9,306) Reportable segment results of operations for the nine months ended September 30, 2015 are as follows : Central Northern Rhino Illinois Total Appalachia Appalachia Western Basin Other Consolidated (in thousands) Total revenues $ 58,494 $ 52,469 $ 27,251 $ 27,412 $ 1,476 $ 167,102 DD&A Interest expense Net income (loss) from continuing operations $ (11,415) $ 4,643 $ (3,055) $ (10,256) $ (1,898) $ (21,981) Reportable segment results of operations for the three months ended September 30, 2014 are as follows: Eastern Met Equity Equity Central Northern Rhino Illinois Complete Method Method Total Appalachia Appalachia Western Basin Basis Eliminations Presentation Other Consolidated (in thousands) Total revenues $ 27,780 $ 17,071 $ 12,260 $ 3,177 $ 3,920 $ (3,920) $ - $ 1,071 $ 61,359 DD&A - Interest expense - Net income (loss) from continuing operations $ (4,724) $ (716) $ 1,199 $ (2,417) $ (3,808) $ 1,866 $ (1,942) $ (264) $ (8,864) Reportable segment results of operations for the nine months ended September 30, 2014 are as follows: Eastern Met Equity Equity Central Northern Rhino Illinois Complete Method Method Total Appalachia Appalachia Western Basin Basis Eliminations Presentation Other Consolidated (in thousands) Total revenues $ 85,600 $ 53,280 $ 31,849 $ 3,480 $ 16,649 $ (16,649) $ - $ 2,978 $ 177,187 DD&A - Interest expense - Net income (loss) from continuing operations $ (12,947) $ 733 $ 129 $ (2,304) $ (9,071) $ 4,445 $ (4,626) $ (1,642) $ (20,657) |
Basis Of Presentation And Org40
Basis Of Presentation And Organization (Details) - USD ($) $ in Thousands | 1 Months Ended | 9 Months Ended | ||
Apr. 30, 2015 | Sep. 30, 2015 | Dec. 31, 2014 | ||
Basis Of Presentation And Organization Disclosure [Line Items] | ||||
Leverage ratio | 320.00% | |||
Liquidity | $ 9,000 | |||
Current portion of long-term debt | [1] | $ 48,221 | $ 210 | |
PNC Bank N.A. 2015 Amendment [Member] | ||||
Basis Of Presentation And Organization Disclosure [Line Items] | ||||
Line of credit facility, extended date | Jul. 1, 2017 | |||
Line of credit facility, maximum leverage ratio required for extension | 275.00% | |||
Line of credit facility, miniumum liquidity | $ 15,000 | |||
Line of credit facility, expiration date if requirements not met | Jul. 1, 2016 | |||
[1] | See Note 1 for discussion on current liability classification as of September 30, 2015. |
Summary Of Significant Accoun41
Summary Of Significant Accounting Policies And General (Details) T in Millions | 1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||
Jan. 31, 2015T | Sep. 30, 2014USD ($) | Dec. 31, 2012USD ($) | May. 31, 2008USD ($) | Sep. 30, 2015USD ($) | Sep. 30, 2014USD ($) | Sep. 30, 2015USD ($) | Sep. 30, 2014USD ($) | Dec. 31, 2014USD ($) | Dec. 31, 2013USD ($) | |
Summary Of Significant Accounting Policies [Line Items] | ||||||||||
Loss from operations | $ 7,994,000 | $ 6,108,000 | $ 18,702,000 | $ 11,421,000 | ||||||
Equity in net income (loss) of unconsolidated affiliate | 77,000 | (1,905,000) | 342,000 | (4,708,000) | ||||||
Rhino Eastern LLC [Member] | ||||||||||
Summary Of Significant Accounting Policies [Line Items] | ||||||||||
Impairment charges | $ 5,900,000 | |||||||||
Payments to acquire interest in joint venture | $ 16,100,000 | |||||||||
Ownership interest equity method investment | 51.00% | |||||||||
Interest acquired | 49.00% | |||||||||
Coal Reserves | T | 34 | |||||||||
Muskie Proppant [Member] | ||||||||||
Summary Of Significant Accounting Policies [Line Items] | ||||||||||
Payments to acquire interest in joint venture | $ 2,000,000 | 200,000 | ||||||||
Loss from operations | 37,000 | $ (81,000) | ||||||||
Loans to joint venture | $ 200,000 | |||||||||
Sturgeon Acquisitions [Member] | ||||||||||
Summary Of Significant Accounting Policies [Line Items] | ||||||||||
Payments to acquire interest in joint venture | $ 5,000,000 | $ 5,000,000 | ||||||||
Ownership interest | 100.00% | 100.00% | 100.00% | |||||||
Equity in net income (loss) of unconsolidated affiliate | 100,000 | 300,000 | ||||||||
Mammoth [Member] | ||||||||||
Summary Of Significant Accounting Policies [Line Items] | ||||||||||
Equity method investment | $ 1,900,000 | $ 1,900,000 |
Discontinued Operations (Detail
Discontinued Operations (Details) | 1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Dec. 31, 2014USD ($) | Mar. 31, 2014USD ($) | Jan. 31, 2014USD ($)item | Sep. 30, 2014USD ($) | Sep. 30, 2015USD ($) | Sep. 30, 2014USD ($) | Dec. 31, 2014USD ($) | Dec. 31, 2013USD ($)a | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||
(Loss)/income from discontinued operations | $ (43,000) | $ 722,000 | $ 130,416,000 | |||||
Blackhawk Midstream, LLC [Member] | ||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||
Proceeds from the sale of interest | $ 8,400,000 | |||||||
Number of equity interests sold | item | 2 | |||||||
Percentage of payout interest | 5.00% | |||||||
(Loss)/income from discontinued operations | $ 700,000 | 8,400,000 | ||||||
Utica Shale Region Of Ohio [Member] | ||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||
Ownership percentage | 5.00% | |||||||
Gross acreage | a | 152,300 | |||||||
Net acreage | a | 7,615 | |||||||
Cumulative investment in pro rata interest in oil and gas leases | $ 31,100,000 | |||||||
Drilling costs | $ 23,300,000 | |||||||
Purchase price | $ 184,000,000 | |||||||
Proceeds from the sale of property | 179,000,000 | |||||||
Purchase price receivable | $ 5,000,000 | |||||||
Amount of purchase price settled | $ 5,000,000 | |||||||
Gain on sale of acreage | $ 121,700,000 | |||||||
Sale transaction costs | $ 46,000 |
Prepaid Expenses And Other Cu43
Prepaid Expenses And Other Current Assets (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Prepaid Expenses And Other Current Assets [Abstract] | ||
Other prepaid expenses | $ 547 | $ 827 |
Prepaid insurance | 1,717 | 2,063 |
Prepaid leases | 40 | 87 |
Supply inventory | 914 | 827 |
Deposits | 167 | 170 |
Total Prepaid expenses and other | $ 3,385 | $ 3,974 |
Property, Plant And Equipment44
Property, Plant And Equipment (Narrative) (Details) $ in Thousands, T in Millions | 1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | |
Aug. 31, 2015USD ($)a | Sep. 30, 2015USD ($) | Jun. 30, 2015USD ($) | Sep. 30, 2015USD ($)T | Dec. 31, 2014USD ($) | |
Property, Plant and Equipment [Line Items] | |||||
Loss on asset impairments | $ 2,333 | $ 4,512 | |||
Non-current assets held for sale | 15,699 | 15,699 | $ 9,279 | ||
Non-current liabilities held for sale | 6,823 | $ 6,823 | 2,250 | ||
Deane Branch, Eastern Kentucky [Member] | |||||
Property, Plant and Equipment [Line Items] | |||||
Proven and probable coal reserves | T | 39.3 | ||||
Loss on asset impairments | 2,300 | $ 2,300 | |||
Mineral properties | 2,000 | 2,000 | |||
Non-current assets held for sale | 8,800 | 8,800 | |||
Non-current liabilities held for sale | $ 6,800 | $ 6,800 | |||
Western Oklahoma [Member] | |||||
Property, Plant and Equipment [Line Items] | |||||
Loss on asset impairments | $ 2,200 | ||||
Mineral properties | 5,800 | ||||
Property sold during period, net acreage | a | 1,900 | ||||
Proceeds from the sale of property | $ 5,700 | ||||
Bevins Branch, Eastern Kentucky [Member] | |||||
Property, Plant and Equipment [Line Items] | |||||
Non-current assets held for sale | $ 2,300 | ||||
Impairment charges | $ 8,300 |
Property, Plant And Equipment45
Property, Plant And Equipment (Property, Plant And Equipment By Major Classification) (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2015 | Dec. 31, 2014 | |
Property, Plant and Equipment [Line Items] | ||
Total | $ 650,628 | $ 663,662 |
Less accumulated depreciation, depletion and amortization | (288,328) | (280,225) |
Net property, plant and equipment | 362,300 | 383,437 |
Land And Land Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total | 18,799 | 18,845 |
Mining And Other Equipment And Related Facilities [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total | 333,481 | 336,951 |
Mine Development Costs [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total | 76,285 | 79,536 |
Coal Properties [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total | 219,018 | 215,325 |
Oil And Natural Gas Properties [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total | 8,093 | |
Construction Work In Process [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total | $ 3,045 | $ 4,912 |
Minimum [Member] | Mining And Other Equipment And Related Facilities [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Useful Lives | 2 years | |
Minimum [Member] | Mine Development Costs [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Useful Lives | 1 year | |
Minimum [Member] | Coal Properties [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Useful Lives | 1 year | |
Maximum [Member] | Mining And Other Equipment And Related Facilities [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Useful Lives | 20 years | |
Maximum [Member] | Mine Development Costs [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Useful Lives | 15 years | |
Maximum [Member] | Coal Properties [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Useful Lives | 15 years |
Property, Plant And Equipment46
Property, Plant And Equipment (Depreciation, Depletion And Amortization) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Property, Plant and Equipment [Line Items] | ||||
Depreciation, depletion and amortization | $ 8,248 | $ 9,627 | $ 25,695 | $ 27,789 |
Asset Retirement Costs [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Depreciation, depletion and amortization | (140) | 32 | (315) | 146 |
Intangible Assets [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Depreciation, depletion and amortization | 20 | 20 | 60 | 61 |
Mining And Other Equipment And Related Facilities [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Depreciation, depletion and amortization | 7,202 | 7,931 | 22,171 | 22,652 |
Coal Properties And Oil And Natural Gas Properties [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Depreciation, depletion and amortization | 701 | 1,173 | 2,234 | 3,672 |
Mine Development Costs [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Depreciation, depletion and amortization | $ 465 | $ 471 | $ 1,545 | $ 1,258 |
Goodwill And Intangible Asset47
Goodwill And Intangible Assets (Narrative) (Details) | 9 Months Ended |
Sep. 30, 2015 | |
Patent And Developed Technology [Member] | |
Acquired Finite-Lived Intangible Assets [Line Items] | |
Intangible assets, useful life | 17 years |
Trade Name And Customer List [Member] | |
Acquired Finite-Lived Intangible Assets [Line Items] | |
Intangible assets, useful life | 20 years |
Goodwill And Intangible Asset48
Goodwill And Intangible Assets (Schedule Of Intangible Assets By Major Class) (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | $ 1,460 | $ 1,460 |
Accumulated Amortization | 453 | 393 |
Net Carrying Amount | 1,007 | 1,067 |
Patent [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 728 | 728 |
Accumulated Amortization | 282 | 250 |
Net Carrying Amount | 446 | 478 |
Developed Technology [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 78 | 78 |
Accumulated Amortization | 30 | 27 |
Net Carrying Amount | 48 | 51 |
Trade Name [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 184 | 184 |
Accumulated Amortization | 40 | 33 |
Net Carrying Amount | 144 | 151 |
Customer List [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 470 | 470 |
Accumulated Amortization | 101 | 83 |
Net Carrying Amount | $ 369 | $ 387 |
Goodwill And Intangible Asset49
Goodwill And Intangible Assets (Future Amortization Expense) (Details) $ in Thousands | Sep. 30, 2015USD ($) |
Acquired Finite-Lived Intangible Assets [Line Items] | |
2015 (from Oct 1 to Dec 31) | $ 20 |
2,016 | 80 |
2,017 | 80 |
2,018 | 80 |
2,019 | 80 |
Patent [Member] | |
Acquired Finite-Lived Intangible Assets [Line Items] | |
2015 (from Oct 1 to Dec 31) | 11 |
2,016 | 43 |
2,017 | 43 |
2,018 | 43 |
2,019 | 43 |
Developed Technology [Member] | |
Acquired Finite-Lived Intangible Assets [Line Items] | |
2015 (from Oct 1 to Dec 31) | 1 |
2,016 | 5 |
2,017 | 5 |
2,018 | 5 |
2,019 | 5 |
Trade Name [Member] | |
Acquired Finite-Lived Intangible Assets [Line Items] | |
2015 (from Oct 1 to Dec 31) | 2 |
2,016 | 9 |
2,017 | 9 |
2,018 | 9 |
2,019 | 9 |
Customer List [Member] | |
Acquired Finite-Lived Intangible Assets [Line Items] | |
2015 (from Oct 1 to Dec 31) | 6 |
2,016 | 23 |
2,017 | 23 |
2,018 | 23 |
2,019 | $ 23 |
Other Non-Current Assets (Narra
Other Non-Current Assets (Narrative) (Details) - USD ($) $ in Thousands | 1 Months Ended | |||
Apr. 30, 2015 | Mar. 31, 2014 | Sep. 30, 2015 | Dec. 31, 2014 | |
Other Non-Current Assets [Line Items] | ||||
Debt issuance costs, gross | $ 11,600 | $ 9,100 | ||
Accumulated amortization of debt issuance costs | 9,100 | 7,600 | ||
Workers' compensation insurance receivable | $ 14,237 | $ 14,237 | ||
PNC Bank N.A. 2014 Amendment [Member] | ||||
Other Non-Current Assets [Line Items] | ||||
Credit facility, maximum available | $ 200,000 | |||
Amendment fee | 100 | |||
Unamortized debt issuance costs written off | $ 1,100 | |||
PNC Bank N.A. 2015 Amendment [Member] | ||||
Other Non-Current Assets [Line Items] | ||||
Credit facility, maximum available | $ 100,000 | |||
Amendment fee | 2,100 | |||
Unamortized debt issuance costs written off | $ 200 |
Other Non-Current Assets (Sched
Other Non-Current Assets (Schedule Of Other Non-Current Assets) (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Other Non-Current Assets [Abstract] | ||
Deposits and other | $ 155 | $ 347 |
Debt issuance costs-net | 2,496 | 1,513 |
Non-current receivable | 14,237 | 14,237 |
Deferred expenses | 273 | 313 |
Total | $ 17,161 | $ 16,410 |
Accrued Expenses And Other Cu52
Accrued Expenses And Other Current Liabilities (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Accrued Expenses And Other Current Liabilities [Abstract] | ||
Payroll, bonus and vacation expense | $ 2,374 | $ 2,876 |
Non income taxes | 4,411 | 4,323 |
Royalty expenses | 1,858 | 1,772 |
Accrued interest | 530 | 385 |
Health claims | 899 | 1,270 |
Workers' compensation & pneumoconiosis | 1,500 | 1,500 |
Deferred revenues | 3,294 | 4,050 |
Accrued insured litigation claims | 651 | 489 |
Other | 2,244 | 669 |
Total | $ 17,761 | $ 17,334 |
Debt (Senior Secured Credit Fac
Debt (Senior Secured Credit Facility With PNC Bank, N.A.) (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands | 1 Months Ended | 3 Months Ended | 9 Months Ended | |||||||
Apr. 30, 2015 | Mar. 31, 2014 | Jul. 31, 2011 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Dec. 31, 2016 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Line of Credit Facility [Line Items] | ||||||||||
Line of credit facility, amount outstanding | $ 48,000 | $ 48,000 | $ 54,450 | |||||||
Borrowings on line of credit | $ 75,650 | $ 145,540 | ||||||||
PNC Bank, N.A. 2014 Amendment [Member] | ||||||||||
Line of Credit Facility [Line Items] | ||||||||||
Credit facility, maximum available | $ 200,000 | |||||||||
Amendment fee | 100 | |||||||||
Line of credit facility, maximum investment in hydrocarbons | 50,000 | |||||||||
Unamortized debt issuance costs written off | $ 1,100 | |||||||||
PNC Bank N.A. 2015 Amendment [Member] | ||||||||||
Line of Credit Facility [Line Items] | ||||||||||
Credit facility, maximum available | $ 100,000 | |||||||||
Amendment fee | $ 2,100 | |||||||||
Line of credit facility, extended date | Jul. 1, 2017 | |||||||||
Line of credit facility, expiration date if requirements not met | Jul. 1, 2016 | |||||||||
Line of credit facility, maximum leverage ratio | 375.00% | |||||||||
Line of credit facility, minimum fixed charge coverage ratio | 110.00% | |||||||||
Line of credit facility, maximum leverage ratio required for extension | 275.00% | |||||||||
Unamortized debt issuance costs written off | $ 200 | |||||||||
Line of credit facility, miniumum liquidity | 15,000 | |||||||||
Line of credit facility, threshold for proceeds from disposition of assets that determines amount used to reduce commitments | 35,000 | |||||||||
Line of credit facility, amount by which commitments must be reduced if proceeds from sale of assets are below threshold | 10,000 | |||||||||
Line of credit facility, amount of sales proceeds that cause a decrease in leverage ratio | $ 10,000 | |||||||||
Line of credit facility, leverage ratio reduction related to sale of assets | 25.00% | |||||||||
Line of credit facility, maximum quarterly distributions per unit | $ 0.035 | |||||||||
Line of credit facility, minimum borrowing availability required for distributions in excess of maximum stated amount | $ 20,000 | |||||||||
Line of credit facility, maximum investments | $ 10,000 | |||||||||
Line of credit facility, maximum leverage ratio related to limited investments | 300.00% | |||||||||
Line of credit facility, minimum available liquidity for limited investments | $ 20,000 | |||||||||
Line of credit facility, maximum capital expenditures for remainder of fiscal year | 20,000 | |||||||||
Line of credit facility maximum capital expenditures after current fiscal year | 27,500 | |||||||||
Line of credit facility, maximum carryover of unused capital expenditures | $ 5,000 | |||||||||
Line of credit facility, maximum leverage ratio required for distributions in excess of maximum stated amount | 300.00% | |||||||||
Minimum [Member] | PNC Bank N.A. 2015 Amendment [Member] | ||||||||||
Line of Credit Facility [Line Items] | ||||||||||
Line of credit facility, maximum leverage ratio | 300.00% | |||||||||
PNC Bank, N.A. [Member] | ||||||||||
Line of Credit Facility [Line Items] | ||||||||||
Maximum borrowing capacity measured as a multiple of EBITDA | 375.00% | |||||||||
EBITDA measurement period for determining maximum borrowing capacity | 12 months | |||||||||
Line of credit facility, remaining borrowing capacity | $ 9,000 | $ 9,000 | ||||||||
Credit Facility LIBOR Plus Applicable Spread [Member] | PNC Bank, N.A. [Member] | ||||||||||
Line of Credit Facility [Line Items] | ||||||||||
Incremental interest rate above variable rate | 4.50% | |||||||||
Effective interest rate | 4.70% | 4.70% | ||||||||
Borrowings on line of credit | $ 48,000 | |||||||||
Amended And Restated [Member] | PNC Bank, N.A. [Member] | ||||||||||
Line of Credit Facility [Line Items] | ||||||||||
Credit facility, maximum available | $ 300,000 | |||||||||
Line of credit facility option to increase maximum borrowing capacity | 50,000 | |||||||||
Line of credit facility, expiration date | Jul. 1, 2016 | |||||||||
Line of credit facility, extended date | Jul. 1, 2017 | |||||||||
Letters of Credit [Member] | PNC Bank N.A. 2015 Amendment [Member] | ||||||||||
Line of Credit Facility [Line Items] | ||||||||||
Credit facility, maximum available | $ 50,000 | |||||||||
Letters of Credit [Member] | PNC Bank, N.A. [Member] | ||||||||||
Line of Credit Facility [Line Items] | ||||||||||
Credit facility, maximum available | $ 75,000 | |||||||||
Outstanding letters of credit | $ 21,900 | $ 21,900 | ||||||||
Fixed interest rate | 4.50% | 4.50% | ||||||||
Scenario, Forecast [Member] | PNC Bank N.A. 2015 Amendment [Member] | ||||||||||
Line of Credit Facility [Line Items] | ||||||||||
Line of credit facility, maximum leverage ratio | 325.00% | 350.00% | 300.00% |
Debt (Schedule Of Debt) (Detail
Debt (Schedule Of Debt) (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 | |
Debt [Abstract] | |||
Senior secured credit facility with PNC Bank, N.A. | $ 48,000 | $ 54,450 | |
Other notes payable | 2,826 | 2,982 | |
Total | 50,826 | 57,432 | |
Less current portion | [1] | (48,221) | (210) |
Long-term debt | $ 2,605 | $ 57,222 | |
[1] | See Note 1 for discussion on current liability classification as of September 30, 2015. |
Asset Retirement Obligations (D
Asset Retirement Obligations (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | Sep. 30, 2015 | Dec. 31, 2014 | ||
Asset Retirement Obligations [Abstract] | ||||||
Balance at beginning of period (including current portion) | $ 29,883 | $ 34,451 | $ 34,451 | |||
Accretion expense | 1,651 | 1,731 | 2,281 | |||
Adjustment resulting from addition of property | 1,235 | |||||
Adjustment resulting from disposal of property | [1] | (2,310) | ||||
Adjustments to liability from annual recosting and other | (1,324) | |||||
Reclassification To Held For Sale | [2] | (6,823) | (2,250) | |||
Liabilities settled | (466) | (965) | ||||
Balance at end of period | $ 29,883 | $ 34,451 | $ 34,451 | $ 25,480 | $ 29,883 | |
Less current portion of asset retirement obligation | (953) | (1,431) | ||||
Long-term portion of asset retirement obligation | $ 24,527 | $ 28,452 | ||||
[1] | The ($2.3 million) adjustment for the year ended December 31, 2014 primarily relates to the transfer of certain mining permits to a third party that relieved the Partnership of the asset retirement obligations related to these permits. | |||||
[2] | See Note 5 for discussion of the ($6.8 million) reclassification to held for sale. |
Employee Benefits (Components O
Employee Benefits (Components Of Net Periodic Benefit Cost) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Employee Benefits [Abstract] | ||||
Service costs | $ 67 | $ 74 | $ 202 | $ 223 |
Interest cost | 51 | 59 | 152 | 177 |
Amortization of (gain) | (44) | (92) | (133) | (275) |
Total | $ 74 | $ 41 | $ 221 | $ 125 |
Employee Benefits (Schedule Of
Employee Benefits (Schedule Of Expense Under Defined Contribution Savings Plans) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Employee Benefits [Abstract] | ||||
401(k) plan expense | $ 505 | $ 583 | $ 1,657 | $ 1,686 |
Equity-Based Compensation (Deta
Equity-Based Compensation (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended |
Mar. 31, 2015 | Sep. 30, 2015 | |
Equity-Based Compensation [Abstract] | ||
Phantom units granted | 33,948 | |
Vesting period | 3 years | |
Total fair value of awards granted | $ 0.1 | $ 0.1 |
Commitments And Contingencies59
Commitments And Contingencies (Narrative) (Details) gal in Millions, $ in Millions | 1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended |
Sep. 30, 2014USD ($) | Sep. 30, 2014USD ($) | Sep. 30, 2015USD ($)gal | Dec. 31, 2012USD ($) | |
Diesel Fuel [Member] | ||||
Commitments And Contingencies [Line Items] | ||||
Fuel purchase commitments, gallons | gal | 0.3 | |||
Purchase commitments | $ 0.6 | |||
Timber Wolf [Member] | ||||
Commitments And Contingencies [Line Items] | ||||
Payments to acquire interest in joint venture | $ 0.1 | |||
Sturgeon Acquisitions [Member] | ||||
Commitments And Contingencies [Line Items] | ||||
Payments to acquire interest in joint venture | $ 5 | $ 5 |
Commitments And Contingencies60
Commitments And Contingencies (Schedule Of Delivery Commitments) (Details) T in Thousands | 9 Months Ended |
Sep. 30, 2015customerT | |
Commitments And Contingencies [Abstract] | |
Tons, 2015 Q4 | 837 |
Tons, 2016 | 2,653 |
Tons, 2017 | 1,650 |
Number of customers, 2015 Q4 | customer | 11 |
Number of customers, 2016 | customer | 6 |
Number of customers, 2017 | customer | 3 |
Commitments And Contingencies61
Commitments And Contingencies (Schedule Of Purchased Coal Expenses) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Commitments And Contingencies [Abstract] | |||
Purchased coal expense | $ 1,549 | $ (26) | $ 5,285 |
Commitments And Contingencies62
Commitments And Contingencies (Schedule Of Lease And Royalty Expense) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Commitments And Contingencies [Abstract] | ||||
Lease expense | $ 2,583 | $ 761 | $ 5,002 | $ 2,619 |
Royalty expense | $ 2,315 | $ 2,244 | $ 8,742 | $ 8,264 |
Earnings Per Unit ("EPU") (Narr
Earnings Per Unit ("EPU") (Narrative) (Details) | 9 Months Ended |
Sep. 30, 2014shares | |
Earnings Per Unit ("EPU") [Abstract] | |
Anti-dilutive LTIP phantom units | 6,000 |
Earnings Per Unit ("EPU") (Sche
Earnings Per Unit ("EPU") (Schedule Of Calculation Of Numerator And Denominator In Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Earnings Per Unit [Line Items] | ||||
Interest in net (loss)/income: Net (loss) from continuing operations | $ (9,306) | $ (8,864) | $ (21,981) | $ (20,657) |
Interest in net (loss)/income: Net income from discontinued operations | (43) | 722 | 130,416 | |
Interest in net (loss)/income: Total interest in net income (loss) | (9,306) | (8,907) | (21,259) | 109,759 |
General Partner [Member] | ||||
Earnings Per Unit [Line Items] | ||||
Interest in net (loss)/income: Net (loss) from continuing operations | (186) | (177) | (440) | (413) |
Interest in net (loss)/income: Net income from discontinued operations | (1) | 14 | 2,608 | |
Interest in net (loss)/income: Total interest in net income (loss) | (186) | (178) | (426) | 2,195 |
Impact of subordinated distribution suspension: Net income/(loss) from continuing operations | 12 | 5 | 241 | |
Impact of subordinated distribution suspension: Interest in net income/(loss) | 12 | 5 | 241 | |
Interest in net (loss)/income for EPU purposes: Net income/(loss) from continuing operations | (186) | (165) | (435) | (172) |
Interest in net (loss)/income for EPU purposes: Net income from discontinued operations | (1) | 14 | 2,608 | |
Interest in net (loss)/income for EPU purposes: Interest in net (loss)/income | (186) | (166) | (421) | 2,436 |
Common Unitholders [Member] | ||||
Earnings Per Unit [Line Items] | ||||
Interest in net (loss)/income: Net (loss) from continuing operations | (5,235) | (4,983) | (12,362) | (11,610) |
Interest in net (loss)/income: Net income from discontinued operations | (28) | 406 | 73,292 | |
Interest in net (loss)/income: Total interest in net income (loss) | (5,235) | (5,011) | (11,956) | 61,682 |
Impact of subordinated distribution suspension: Net income/(loss) from continuing operations | 349 | 139 | 6,545 | |
Impact of subordinated distribution suspension: Interest in net income/(loss) | 349 | 139 | 6,545 | |
Interest in net (loss)/income for EPU purposes: Net income/(loss) from continuing operations | (5,235) | (4,634) | (12,223) | (5,065) |
Interest in net (loss)/income for EPU purposes: Net income from discontinued operations | (28) | 406 | 73,292 | |
Interest in net (loss)/income for EPU purposes: Interest in net (loss)/income | $ (5,235) | $ (4,662) | $ (11,817) | $ 68,227 |
Weighted average units used to compute basic EPU | 16,706 | 16,681 | 16,697 | 16,673 |
Dilutive securities for net income from continuing operations and discontinued operations | 9 | |||
Weighted average units used to compute diluted EPU | 16,706 | 16,681 | 16,697 | 16,682 |
Net (loss) per unit from continuing operations | $ (0.31) | $ (0.28) | $ (0.73) | $ (0.31) |
Net income per unit from discontinued operations | 0 | 0.02 | 4.40 | |
Net (loss)/income per common unit, basic | (0.31) | (0.28) | (0.71) | 4.09 |
Net (loss)/income per unit from continuing operations | (0.31) | (0.28) | (0.73) | (0.31) |
Net income per unit from discontinued operations | 0 | 0.02 | 4.40 | |
Net income per common unit, diluted | $ (0.31) | $ (0.28) | $ (0.71) | $ 4.09 |
Subordinated Unitholders[Member] | ||||
Earnings Per Unit [Line Items] | ||||
Interest in net (loss)/income: Net (loss) from continuing operations | $ (3,885) | $ (3,704) | $ (9,179) | $ (8,634) |
Interest in net (loss)/income: Net income from discontinued operations | (14) | 302 | 54,516 | |
Interest in net (loss)/income: Total interest in net income (loss) | (3,885) | (3,718) | (8,877) | 45,882 |
Impact of subordinated distribution suspension: Net income/(loss) from continuing operations | (361) | (144) | (6,786) | |
Impact of subordinated distribution suspension: Interest in net income/(loss) | (361) | (144) | (6,786) | |
Interest in net (loss)/income for EPU purposes: Net income/(loss) from continuing operations | (3,885) | (4,065) | (9,323) | (15,420) |
Interest in net (loss)/income for EPU purposes: Net income from discontinued operations | (14) | 302 | 54,516 | |
Interest in net (loss)/income for EPU purposes: Interest in net (loss)/income | $ (3,885) | $ (4,079) | $ (9,021) | $ 39,096 |
Weighted average units used to compute basic EPU | 12,397 | 12,397 | 12,397 | 12,397 |
Weighted average units used to compute diluted EPU | 12,397 | 12,397 | 12,397 | 12,397 |
Net (loss) per unit from continuing operations | $ (0.31) | $ (0.33) | $ (0.75) | $ (1.25) |
Net income per unit from discontinued operations | 0 | 0.02 | 4.40 | |
Net (loss)/income per common unit, basic | (0.31) | (0.33) | (0.73) | 3.15 |
Net (loss)/income per unit from continuing operations | (0.31) | (0.33) | (0.75) | (1.25) |
Net income per unit from discontinued operations | 0 | 0.02 | 4.40 | |
Net income per common unit, diluted | $ (0.31) | $ (0.33) | $ (0.73) | $ 3.15 |
Major Customers (Details)
Major Customers (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Revenue, Major Customer [Line Items] | |||||
Receivable balance | $ 18,825 | $ 18,825 | $ 22,467 | ||
Revenue | 54,153 | $ 61,359 | 167,102 | $ 177,187 | |
NRG Energy, Inc. (fka GenOn Energy, Inc.) [Member] | |||||
Revenue, Major Customer [Line Items] | |||||
Receivable balance | 1,144 | 1,144 | 2,932 | ||
Revenue | 20,356 | ||||
PPL Corporation [Member] | |||||
Revenue, Major Customer [Line Items] | |||||
Receivable balance | 1,659 | 1,659 | $ 2,053 | ||
Revenue | 24,457 | ||||
PacificCorp Energy [Member] | |||||
Revenue, Major Customer [Line Items] | |||||
Receivable balance | $ 1,728 | 1,728 | |||
Revenue | $ 16,831 |
Fair Value Of Financial Instr66
Fair Value Of Financial Instruments (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Jun. 30, 2015 | Dec. 31, 2014 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Non-current assets held for sale | $ 15,699 | $ 9,279 | |
Non-current liabilities held for sale | 6,823 | 2,250 | |
Carrying amount of property | 650,628 | 663,662 | |
Red Cliff Project [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Non-current assets held for sale | 6,900 | ||
Deane Branch, Eastern Kentucky [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Non-current assets held for sale | 8,800 | ||
Non-current liabilities held for sale | $ 6,800 | ||
Bevins Branch, Eastern Kentucky [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Non-current assets held for sale | $ 2,300 | ||
Bevins Branch, Eastern Kentucky [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Non-current assets held for sale | 2,400 | ||
Non-current liabilities held for sale | $ 2,200 |
Supplemental Disclosures Of C67
Supplemental Disclosures Of Cash Flow Information (Narrative) (Details) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Units Issued [Member] | ||
Other Significant Noncash Transactions [Line Items] | ||
Value of units issued | $ 0.3 | |
Recorded In Accounts Payable [Member] | ||
Other Significant Noncash Transactions [Line Items] | ||
Property additions | $ 0.1 | $ 0.1 |
Supplemental Disclosures Of C68
Supplemental Disclosures Of Cash Flow Information (Schedule Of Cash Flow, Supplemental Disclosures) (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2015 | Dec. 31, 2014 | |
Other Significant Noncash Transactions [Line Items] | ||
Coal properties (incl asset retirement costs) | $ 650,628 | $ 663,662 |
Advance royalties, net of current portion | 888 | 1,032 |
Other non-current assets - acquired | 17,161 | 16,410 |
Accrued expenses and other | (17,761) | (17,334) |
Asset retirement obligations | (24,527) | $ (28,452) |
Rhino Eastern [Member] | ||
Other Significant Noncash Transactions [Line Items] | ||
Coal properties (incl asset retirement costs) | 12,104 | |
Advance royalties, net of current portion | 4,706 | |
Other non-current assets - acquired | 229 | |
Other non-current assets - written off | (642) | |
Accrued expenses and other | (2,012) | |
Asset retirement obligations | (1,235) | |
Net assets acquired | 13,150 | |
Investment in unconsolidated affiliates-Rhino Eastern - written off | $ (13,150) |
Segment Information (Narrative)
Segment Information (Narrative) (Details) - segment | 3 Months Ended | 9 Months Ended |
Sep. 30, 2015 | Sep. 30, 2015 | |
Segment Information [Abstract] | ||
Number of reportable business segments | 4 | 4 |
Segment Information (Reportable
Segment Information (Reportable Segment Results Of Operations) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Segment Reporting Information [Line Items] | ||||
Total revenues | $ 54,153 | $ 61,359 | $ 167,102 | $ 177,187 |
DD&A | 8,248 | 9,627 | 25,695 | 27,789 |
Interest expense | 1,389 | 854 | 3,659 | 4,800 |
Net Income (loss) from continuing operations | (9,306) | (8,864) | (21,981) | (20,657) |
Central Appalachia [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total revenues | 17,231 | 27,780 | 58,494 | 85,600 |
DD&A | 2,975 | 4,951 | 10,315 | 15,594 |
Interest expense | 606 | 342 | 1,453 | 1,691 |
Net Income (loss) from continuing operations | (7,361) | (4,724) | (11,415) | (12,947) |
Northern Appalachia [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total revenues | 18,382 | 17,071 | 52,469 | 53,280 |
DD&A | 1,894 | 1,934 | 5,699 | 5,629 |
Interest expense | 145 | 96 | 381 | 368 |
Net Income (loss) from continuing operations | 1,959 | (716) | 4,643 | 733 |
Rhino Western [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total revenues | 8,699 | 12,260 | 27,251 | 31,849 |
DD&A | 1,593 | 1,580 | 4,822 | 4,421 |
Interest expense | 97 | 60 | 227 | 262 |
Net Income (loss) from continuing operations | (526) | 1,199 | (3,055) | 129 |
Illinois Basin [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total revenues | 9,649 | 3,177 | 27,412 | 3,480 |
DD&A | 1,624 | 876 | 4,274 | 1,288 |
Interest expense | 174 | 79 | 429 | 251 |
Net Income (loss) from continuing operations | (3,067) | (2,417) | (10,256) | (2,304) |
Eastern Met [Member] | Complete Basis [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total revenues | 3,920 | 16,649 | ||
DD&A | 449 | 1,388 | ||
Interest expense | 23 | 58 | ||
Net Income (loss) from continuing operations | (3,808) | (9,071) | ||
Eastern Met [Member] | Equity Method Eliminations [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total revenues | (3,920) | (16,649) | ||
DD&A | (449) | (1,388) | ||
Interest expense | (23) | (58) | ||
Net Income (loss) from continuing operations | 1,866 | 4,445 | ||
Eastern Met [Member] | Equity Method Presentation [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net Income (loss) from continuing operations | (1,942) | (4,626) | ||
Other [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total revenues | 192 | 1,071 | 1,476 | 2,978 |
DD&A | 162 | 286 | 585 | 857 |
Interest expense | 367 | 277 | 1,169 | 2,228 |
Net Income (loss) from continuing operations | $ (311) | $ (264) | $ (1,898) | $ (1,642) |
Subsequent Events (Details)
Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Millions | Oct. 07, 2015 | Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Subsequent Event [Line Items] | ||||||
Cash distribution | [1] | $ 0.445 | $ 0.070 | $ 1.335 | ||
Distribution arrearages outstanding | $ 36.5 | $ 36.5 | ||||
New York Stock Exchange [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Minimum per unit closing price | $ 1 | |||||
Minimum per unit closing price threshold of consecutive days | 30 days | |||||
Common Units [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Minimum required distributions per unit | $ 0.445 | |||||
Subordinated Units [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Cash distribution | $ 0 | $ 0 | $ 0 | $ 0 | ||
[1] | No distributions were paid on the subordinated units for the three and nine months ended September 30, 2015 and 2014 |