Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |||
Sep. 30, 2013 | Nov. 05, 2013 | Nov. 05, 2013 | Nov. 05, 2013 | |
Common Unitholders | Subordinated Unitholders | General partner | ||
Document and Entity Information | ' | ' | ' | ' |
Entity Registrant Name | 'OCI Resources LP. | ' | ' | ' |
Entity Central Index Key | '0001575051 | ' | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' | ' |
Entity Filer Category | 'Non-accelerated Filer | ' | ' | ' |
Document Type | '10-Q | ' | ' | ' |
Document Period End Date | 30-Sep-13 | ' | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' | ' |
Document Fiscal Period Focus | 'Q3 | ' | ' | ' |
Amendment Flag | 'false | ' | ' | ' |
Document Information [Line Items] | ' | ' | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 9,775,500 | 9,775,500 | 399,000 |
CONDENSED_CONSOLIDATED_BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $106.80 | $22.70 |
Accounts receivable, net | 88.3 | ' |
Receivables from affiliates | 20.1 | ' |
Inventory | 44.7 | ' |
Other current assets | 1.5 | ' |
Total current assets | 261.4 | ' |
Property, plant and equipment, net | 237.4 | ' |
Other non-current assets | 1.4 | ' |
Total assets | 500.2 | ' |
Current liabilities: | ' | ' |
Current portion of long-term debt | 0 | ' |
Accounts payable | 9.3 | ' |
Payables to affiliates | 89.5 | ' |
Accrued expenses | 26.6 | ' |
Total current liabilities | 125.4 | ' |
Long-term debt | 155 | ' |
Reclamation reserve | 3.7 | 3.6 |
Deferred income taxes | 0 | ' |
Total liabilities | 284.1 | ' |
Commitments and Contingencies (See Note 9) | ' | ' |
Equity: | ' | ' |
General partner unitholders - OCI Resource Partners LLC (0.4 million units issued and outstanding at September 30, 2013) | 3.5 | 0 |
Accumulated other comprehensive lossbinterest rate swap | -0.2 | ' |
Partners' capital attributable to OCI Resources LP/Predecessor's net equity | 132.2 | ' |
Noncontrolling interests | 83.9 | ' |
Total equity | 216.1 | ' |
Total liabilities and partners'/predecessor's net equity | 500.2 | ' |
Common Unitholders - Public and OCI Holdings | ' | ' |
Equity: | ' | ' |
Common and subordinated unitholders | 98.4 | 0 |
Subordinated Unitholders - Oci Holdings | ' | ' |
Equity: | ' | ' |
Common and subordinated unitholders | 30.5 | 0 |
Predecessor | ' | ' |
Current assets: | ' | ' |
Cash and cash equivalents | ' | 22.7 |
Accounts receivable, net | ' | 89 |
Receivables from affiliates | ' | 26.6 |
Inventory | ' | 42.1 |
Other current assets | ' | 0.7 |
Total current assets | ' | 181.1 |
Property, plant and equipment, net | ' | 244.5 |
Other non-current assets | ' | 0 |
Total assets | ' | 425.6 |
Current liabilities: | ' | ' |
Current portion of long-term debt | ' | 4 |
Accounts payable | ' | 13.1 |
Payables to affiliates | ' | 22.3 |
Accrued expenses | ' | 26.2 |
Total current liabilities | ' | 65.6 |
Long-term debt | ' | 48 |
Reclamation reserve | ' | 3.6 |
Deferred income taxes | ' | 36.1 |
Total liabilities | ' | 153.3 |
Commitments and Contingencies (See Note 9) | ' | ' |
Equity: | ' | ' |
Predecessor's net equity | 0 | 130 |
Accumulated other comprehensive lossbinterest rate swap | ' | -0.2 |
Partners' capital attributable to OCI Resources LP/Predecessor's net equity | ' | 129.8 |
Noncontrolling interests | ' | 142.5 |
Total equity | ' | 272.3 |
Total liabilities and partners'/predecessor's net equity | ' | $425.60 |
CONDENSED_CONSOLIDATED_BALANCE1
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) | Sep. 30, 2013 |
General Partners' Capital Account, Units Issued | 399,000 |
General Partners' Capital Account, Units Outstanding | 399,000 |
Common Unitholders - Public and OCI Holdings | ' |
Common and subordinated units issued | 9,775,500 |
Common and subordinated units outstanding | 9,775,500 |
Subordinated Unitholders - Oci Holdings | ' |
Common and subordinated units issued | 9,775,500 |
Common and subordinated units outstanding | 9,775,500 |
CONDENSED_CONSOLIDATED_STATEME
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | ||||
In Millions, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2012 | ||||
Subordinated unit | Subordinated unit | Predecessor | Predecessor | |||||||
Net sales | $105.60 | $324.60 | ' | ' | $112 | $347.20 | ||||
Cost of products sold | 79.4 | 243.5 | ' | ' | 75 | 227.7 | ||||
Selling, general and administrative expenses | 3.2 | 9.8 | ' | ' | 2.9 | 8.3 | ||||
Depreciation and amortization expense | 5.9 | 18.1 | ' | ' | 5.9 | 17.9 | ||||
Total operating costs and expenses | 88.5 | 271.4 | ' | ' | 83.8 | 253.9 | ||||
Operating income | 17.1 | 53.2 | ' | ' | 28.2 | 93.3 | ||||
Other income/(expenses): | ' | ' | ' | ' | ' | ' | ||||
Interest income | 0 | 0 | ' | ' | 0 | 0.1 | ||||
Interest expense | -1.1 | -1.8 | ' | ' | -0.3 | -1.1 | ||||
Other, net | 0 | 0.9 | ' | ' | -0.2 | -0.3 | ||||
Total other income/(expense), net | -1.1 | -0.9 | ' | ' | -0.5 | -1.3 | ||||
Income before provision for income taxes | 16 | 52.3 | ' | ' | 27.7 | 92 | ||||
Provision for income taxes | 2.1 | [1] | 7.1 | [1] | ' | ' | 3.8 | [1] | 12.7 | [1] |
Net income | 13.9 | 45.2 | ' | ' | 23.9 | 79.3 | ||||
Net income attributable to noncontrolling interest | 9.5 | 31.4 | ' | ' | 15.7 | 51.5 | ||||
Net income attributable to OCI Resources LP/Predecessor | 4.4 | 13.8 | ' | ' | 8.2 | 27.8 | ||||
Less: Predecessor net income prior to initial public offering on September 18, 2013 | 3.9 | 13.3 | ' | ' | ' | ' | ||||
Net income attributable to OCI Resources LP subsequent to initial public offering | 0.5 | 0.5 | ' | ' | ' | ' | ||||
Other comprehensive loss: | ' | ' | ' | ' | ' | ' | ||||
Interest rate swap | 0 | -0.4 | ' | ' | 0 | 0 | ||||
Comprehensive income | 13.9 | 44.8 | ' | ' | 23.9 | 79.3 | ||||
Comprehensive income attributable to noncontrolling interest | 9.5 | 31.2 | ' | ' | 15.7 | 51.5 | ||||
Comprehensive income attributable to OCI Resources LP/Predecessor | 4.4 | 13.6 | ' | ' | 8.2 | 27.8 | ||||
Less: Predecessor comprehensive income prior to initial public offering on September 18, 2013 | 3.9 | 13.1 | ' | ' | ' | ' | ||||
Comprehensive income attributable to OCI Resources LP subsequent to initial public offering | $0.50 | $0.50 | ' | ' | ' | ' | ||||
Weighted average common and subordinated units outstanding (basic and diluted) (shares) | ' | ' | 9.8 | 9.8 | ' | ' | ||||
[1] | Reflects the elimination of income taxes incurred by the Predecessor. OCIB Resources is a partnership for income tax purposes and is not expected to incur income tax as a publicly traded partnership. |
CONDENSED_CONSOLIDATED_STATEME1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Predecessor | ||
Cash flows from operating activities: | ' | ' |
Net income | $45.20 | $79.30 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Depreciation and amortization | 18.1 | 17.9 |
Deferred income taxes | 0.3 | 1.1 |
Changes in operating assets and liabilities: | ' | ' |
Accounts receivable | 0.7 | -4.9 |
Inventory | -2.6 | -10.8 |
Other current and other non-current assets | -2.4 | -0.1 |
Receivable from affiliates | 5.9 | -18.7 |
Increase/(decrease) in: | ' | ' |
Accounts payable | -3.8 | 0.8 |
Payables to affiliates | 9.5 | 14.6 |
Accrued expenses and other liabilities | 0.5 | -5.1 |
Net cash provided by operating activities | 71.4 | 74.1 |
Cash flows from investing activities: | ' | ' |
Capital expenditures | -10.7 | -19.7 |
Net cash (used in) investing activities | -10.7 | -19.7 |
Cash flows from financing activities: | ' | ' |
Proceeds from issuance of common units, net of offering costs | 83.3 | 0 |
Proceeds from issuance of revolving credit facility | 135 | 0 |
Repayments of long-term debt | -32 | -3 |
Distributions to Predecessor | -72.9 | -20.4 |
Distributions to noncontrolling interest | -90 | -30.5 |
Net cash provided by/(used in) financing activities | 23.4 | -53.9 |
Net increase/(decrease) in cash and cash equivalents | 84.1 | 0.5 |
Cash and cash equivalents at beginning of period | 22.7 | 26.8 |
Cash and cash equivalents at end of period | 106.8 | 27.3 |
Supplemental disclosure of cash flow information: | ' | ' |
Interest paid during the period | $1.20 | $1.10 |
CONSOLIDATED_STATEMENTS_OF_EQU
CONSOLIDATED STATEMENTS OF EQUITY (USD $) | Total | Predecessor Capital Account | Accumulated Other Comprehensive Loss | Partners' Capital Attributable to OCIR and Predecessor's Net Equity | Noncontrolling Interests | Common Unitholders - Public and OCI Holdings | Subordinated Unitholders | General partner | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor |
In Millions, unless otherwise specified | Partnership units | Partnership units | Partnership units | Predecessor Capital Account | Accumulated Other Comprehensive Loss | Partners' Capital Attributable to OCIR and Predecessor's Net Equity | Noncontrolling Interests | ||||||
BALANCE, beginning of period at Dec. 31, 2011 | ' | ' | ' | ' | ' | ' | ' | ' | $245.90 | $125.50 | ($0.20) | $125.30 | $120.60 |
Increase (decrease) in shareholders' equity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | ' | ' | ' | ' | ' | ' | ' | ' | 79.3 | 27.8 | ' | 27.8 | 51.5 |
Distributions | ' | ' | ' | ' | ' | ' | ' | ' | -50.9 | -20.4 | ' | -20.4 | -30.5 |
BALANCE, end of period at Sep. 30, 2012 | ' | ' | ' | ' | ' | ' | ' | ' | 274.3 | 132.9 | -0.2 | 132.7 | 141.6 |
BALANCE, beginning of period at Jun. 30, 2012 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase (decrease) in shareholders' equity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | ' | ' | ' | ' | ' | ' | ' | ' | 23.9 | ' | ' | ' | ' |
BALANCE, end of period at Sep. 30, 2012 | ' | ' | ' | ' | ' | ' | ' | ' | 274.3 | ' | -0.2 | ' | ' |
BALANCE, beginning of period at Dec. 31, 2012 | ' | ' | ' | ' | ' | ' | ' | ' | 272.3 | 130 | -0.2 | 129.8 | 142.5 |
Increase (decrease) in shareholders' equity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | ' | ' | ' | ' | ' | ' | ' | ' | 44.1 | 13.3 | ' | 13.3 | 30.8 |
Distributions | ' | ' | ' | ' | ' | ' | ' | ' | -162.9 | -72.9 | ' | -72.9 | -90 |
Net liabilities not assumed by the Partnership | ' | ' | ' | ' | ' | ' | ' | ' | 61.3 | 61.5 | -0.1 | 61.4 | -0.1 |
BALANCE, end of period at Sep. 18, 2013 | ' | ' | ' | ' | ' | ' | ' | ' | 153.5 | 70.4 | -0.2 | 70.2 | 83.3 |
Increase (decrease) in shareholders' equity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | 1.1 | ' | ' | 0.5 | 0.6 | 0.2 | 0.3 | ' | ' | ' | ' | ' | ' |
Allocation of net Predecessor investment to unitholders | 0 | -131.9 | ' | ' | ' | 42.2 | 86.2 | 3.5 | ' | ' | ' | ' | ' |
Proceeds from initial public offering, net | 83.3 | ' | ' | 83.3 | ' | 83.3 | ' | ' | ' | ' | ' | ' | ' |
Distribution to Predecessor and its affiliates | -83.3 | ' | ' | -83.3 | ' | -27.3 | -56 | ' | ' | ' | ' | ' | ' |
Interest rate swap adjustment | 0.2 | ' | 0.1 | 0.1 | 0.1 | ' | ' | ' | ' | ' | ' | ' | ' |
BALANCE, end of period at Sep. 30, 2013 | $216.10 | $0 | ($0.20) | $132.20 | $83.90 | $98.40 | $30.50 | $3.50 | ' | ' | ' | ' | ' |
CORPORATE_STRUCTURE_AND_SUMMAR
CORPORATE STRUCTURE AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 9 Months Ended | |
Sep. 30, 2013 | ||
Accounting Policies [Abstract] | ' | |
ACCOUNTING POLICIES | ' | |
CORPORATE STRUCTURE AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ||
Description of the Business | ||
OCI Resources LP (the “Partnership”, "OCIR", "we", "us", or "our"), is a Delaware limited partnership formed on April 22, 2013 by OCI Wyoming Holdings Company ("OCI Holdings"), a wholly-owned subsidiary of OCI Chemical, to operate the trona ore mining and soda ash production business of OCI Wyoming LP ("OCI Wyoming"). On September 18, 2013, The Partnership completed the initial public offering (“IPO”) of its common units representing limited partner interests (the "Common Units"). The Partnership owns a controlling interest comprised of 40.98% general partner interest and 10.02% limited partner interest in OCI Wyoming. The Partnership’s operations consist solely of its investment in OCI Wyoming, which is in the business of mining trona ore to produce soda ash. All soda ash processed is sold through OCI Wyoming sales agent, OCI Chemical Corporation ("OCI Chemical"), to various domestic and European customers and to American Natural Soda Ash Corporation ("ANSAC") which is a related party for export. All mining and processing activities take place in one facility located in the Green River Basin of Wyoming. | ||
Natural Resource Partners LP ("NRP") currently owns 39.37% general partner interest and 9.63% limited partner interest in OCI Wyoming. NRP acquired its interest in OCI Wyoming in January 2013 from Anadarko Holding Company ("Anadarko"). | ||
Basis of Presentation and Significant Accounting Policies | ||
Prior to the IPO, OCI Wyoming's general partner interests were owned 50.49% and 48.51% by OCI Holdings and its subsidiary (the "Predecessor") and NRP, respectively, with the 1% limited partner interests in OCI Wyoming being held by OCI Wyoming Company ("Wyoming Co."). The Predecessor and Wyoming Co. are commonly controlled by OCI Chemical. In connection with the IPO, the following transactions (the "Restructuring") were completed: | ||
• | The Predecessor contributed its 50.49% general partner interest in OCI Wyoming to the Partnership. | |
• | Through a series of transactions between OCI Chemical, its commonly controlled subsidiaries and NRP, the 1% limited partner interest in OCI Wyoming owned by Wyoming Co. was restructured resulting in the Partnership's and NRP's general partnership interest in OCI Wyoming being reduced to 40.98% and 39.37%, respectively, and Wyoming Co. and NRP owning a 10.02% and 9.63% limited partner interest in OCI Wyoming, respectively. | |
• | Wyoming Co. contributed its 10.02% limited partner interest to the Partnership in exchange for approximately $65.3 million paid from the net proceeds of the IPO. | |
• | At the conclusion of the restructuring, the Partnership owns a 40.98% general partner interest and a 10.02% limited partner interest in OCI Wyoming. NRP owns a 39.37% general partner interest and a 9.63% limited partner interest in OCI Wyoming. | |
The restructuring has been accounted for as a reorganization of entities under common control. As a result, the condensed consolidated balance sheet of the Predecessor as of December 31, 2012 has been restated to reflect the combination of the ownership interests in OCI Wyoming previously held by the Predecessor and Wyoming Co. adjusted for certain push-down accounting effects of the restructuring as of January 1, 2012. | ||
The unaudited condensed consolidated financial statements of the Predecessor for the three and nine months ended September 2012 and the unaudited condensed consolidated financial statements of the Partnership for the three and nine months ended September 30, 2013 reflect the ownership interests in OCI Wyoming previously held by the Predecessor and Wyoming Co. on a combined basis and adjusted for certain push-down accounting effects of the restructuring for all periods presented. | ||
Prior to the restructuring of the 1% limited partner interest, the distributions included cumulative annual priority returns, however, as of the close of the IPO, all priority return distributions have been paid. The condensed consolidated financial statements for the period after the IPO pertain to the operations of the Partnership. Prior to the Restructuring and completion of the IPO, noncontrolling interests in the unaudited condensed consolidated financial statements of the Predecessor represented the 1% limited partner interest in OCI Wyoming owned by Wyoming Co. and the 48.51% general partner interest in OCI Wyoming owned by Anadarko, and subsequently acquired by NRP. Subsequent to the Restructuring and IPO, noncontrolling interests in the unaudited condensed consolidated financial statements of the Partnership consists of 39.37% general partner interest and 9.63% limited partner interest in OCI Wyoming owned by NRP. | ||
The accompanying unaudited interim condensed consolidated financial statements included herein have been prepared by the Partnership in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information. Certain information and disclosures normally included in financial statements have been omitted pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). In the opinion of the Partnership's management, these statements reflect all adjustments (which include only normal recurring adjustments) necessary for fair presentation of the results of operations, financial position and cash flows for the periods presented. The results of operations for the period ended September 30, 2013 are not necessarily indicative of the operating results for the full year. | ||
Unless the context otherwise requires, references in this report to ‘‘Predecessor,’’ ‘‘we,’’ ‘‘our,’’ ‘‘us,’’ or like terms, when used in a historical context refer to OCI Holdings and its subsidiary, and, unless otherwise noted, financial information for the Predecessor is presented before the noncontrolling interest. When used in the present tense or prospectively, such terms refer to OCI Resources LP and its subsidiary, and, unless otherwise noted, financial information for the Partnership is presented before the noncontrolling interest. References to “our General Partner” or “OCI GP” refer to OCI Resource Partners LLC, the General Partner of OCI Resources LP and a wholly owned subsidiary of OCI Holdings. | ||
Use of Estimates | ||
The preparation of condensed consolidated financial statements, in accordance with accounting principles generally accepted in the United States of America, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities at the dates of the condensed consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. | ||
Accounting Pronouncements Recently Adopted and Pending Accounting Pronouncements | ||
In February 2013, the FASB issued Accounting Standards Update No. 2013-02, Comprehensive Income (Topic 220): “Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income” (ASU 2013-02). ASU 2013-02 amends Topic 220 to require an entity to present current period reclassifications out of accumulated other comprehensive income and other amounts of current-period other comprehensive income, separately, for each component of other comprehensive income. ASU 2013-02 also requires an entity to provide information about the effects on net income of significant amounts reclassified out of each component of accumulated other comprehensive income, if those amounts are required under other Topics to be reclassified to net income in their entirety in the same reporting period. The amendments to Topic 220 made by ASU 2013-02 are effective for interim and annual periods beginning on or after December 15, 2012 and are reflected in these financial statements and had no material effect. |
INITIAL_PUBLIC_OFFERING
INITIAL PUBLIC OFFERING | 9 Months Ended |
Sep. 30, 2013 | |
Equity [Abstract] | ' |
INITIAL PUBLIC OFFERING | ' |
INITIAL PUBLIC OFFERING | |
Contribution Agreement | |
On September 18, 2013, in anticipation of the closing of the IPO, we entered into a Contribution, Assignment and Assumption Agreement by and among the Partnership, the General Partner, Wyoming Co., OCI Holdings and OCI Chemical (the “Contribution Agreement”). Pursuant to the Contribution Agreement, in connection with the closing of the IPO, (i) Wyoming Co. contributed its 10.02% limited partner interest in OCI Wyoming to the Partnership in exchange for a cash payment to Wyoming Co. of approximately $65.3 million paid from the proceeds of the IPO, (ii) the Partnership issued to OCI Holdings 4,775,500 common units and 9,775,500 subordinated units representing a recapitalized 72.9% limited partner interest in the Partnership, and the Partnership distributed approximately $18.0 million to OCI Holdings from the proceeds of the IPO, (iii) the Partnership issued to the General Partner 399,000 general partner units, in part representing a continuation of the General Partner’s 2.0% general partner interest in the Partnership and in part on behalf of OCI Holdings, and the Incentive Distribution Rights ("IDRs"), in the Partnership (as defined in the Partnership Agreement), and (iv) the Partnership redeemed the initial interests of the General Partner and OCI Holding and refunded OCI Holding’s initial contribution of $1,000.00 and any interest or other profit that may have resulted from the investment or other use of such initial capital contribution to OCI Holdings. | |
Omnibus Agreement | |
On September 18, 2013, in connection with the closing of the IPO, the Partnership entered into an Omnibus Agreement (the “Omnibus Agreement”) by and among the Partnership, the General Partner and OCI Enterprises Inc. ("OCI Enterprises"), the Predecessor's parent. | |
Pursuant to the Omnibus Agreement, the Partnership has agreed to reimburse OCI Enterprises and its affiliates for certain direct operating expenses they pay on behalf of the Partnership, and for providing corporate, general and administrative services. Additionally, pursuant to the Omnibus Agreement, OCI Enterprises has agreed to indemnify the Partnership for (i) certain preclosing environmental liabilities, (ii) certain title and rights-of-way matters, (iii) the Partnership’s failure to have certain necessary governmental consents and permits; (iv) certain preclosing tax liabilities; (v) the use of the name “OCI” and other trademarks; and (vi) assets retained by OCI Enterprises and its affiliates. The Partnership has agreed to indemnify OCI Enterprises for certain events relating to the Partnership’s ownership or operation of its assets after the closing of the IPO. Further, as part of the Omnibus Agreement, OCI Enterprises has agreed to grant the Partnership a royalty-free right and sublicense to use “OCI” as part of its name and as a trademark and service mark or as a part of a trademark or a service mark for its products and services. | |
At the closing of the IPO, the Partnership sold 5,000,000 common units, representing a 25.1% partnership interest in us, at a price of $19.00 per common unit to the public. We are traded on the New York Stock Exchange under the symbol OCIR. | |
Use of proceeds | |
We received net proceeds from the sale of the common units of approximately $83.3 million, after deducting underwriters’ discount of approximately $5.7 million and expenses, including a structuring fee, of approximately $6.0 million in the aggregate. Approximately $65.3 million of the IPO proceeds was paid to Wyoming Co. in exchange for the contribution of its 10.02% limited partner interest in OCI Wyoming to the Partnership and approximately $18.0 million was distributed to OCI Chemical, via OCI Holdings. |
PRO_FORMA_FINANCIAL_INFORMATIO
PRO FORMA FINANCIAL INFORMATION | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Pro Forma Financial Information [Abstract] | ' | |||||||||||||||
PRO FORMA FINANCIAL INFORMATION | ' | |||||||||||||||
PRO FORMA FINANCIAL INFORMATION | ||||||||||||||||
OCI RESOURCES LP | ||||||||||||||||
PRO FORMA FINANCIAL INFORMATION | ||||||||||||||||
(Unaudited) | ||||||||||||||||
The following unaudited pro forma financial information has been derived from the unaudited condensed consolidated financial statements for the three and nine months ended September 2012 and 2013. Such unaudited pro forma financial information has been prepared to reflect the restructuring and new ownership interest structure of the Partnership's 40.98% general partnership interest and 10.02% limited partner interest, as well as, NRP's 39.37% general partner interest and 9.63% limited partner interest in OCI Wyoming as if such ownership structure had existed as of January 1, 2012. The pro forma financial information also excludes income taxes incurred by the Predecessor as the Partnership is not subject to income taxes. The pro forma financial information is not necessarily indicative of what the actual results of operations or financial position of the Partnership would have been if the transactions had in fact occurred on the date or for the period indicated, nor do they purport to project the results of operations or financial position of the Partnership for any future periods or as of any date. | ||||||||||||||||
PRO - FORMA FINANCIAL INFORMATION | Three Months Ended | Three Months Ended | Nine Months Ended | Nine Months Ended | ||||||||||||
September 30, 2013 | September 30, 2012 | September 30, 2013 | September 30, 2012 | |||||||||||||
($ in millions) | ||||||||||||||||
Pro Forma Net income | ||||||||||||||||
Net income | $ | 13.9 | $ | 23.9 | $ | 45.2 | $ | 79.3 | ||||||||
Add back: | ||||||||||||||||
Income taxes(1) | 2.1 | 3.8 | 7.1 | 12.7 | ||||||||||||
Pro Forma Net income | 16 | 27.7 | 52.3 | 92 | ||||||||||||
Pro Forma Net income attributable to noncontrolling interest | 8 | 13.7 | 26.1 | 45.6 | ||||||||||||
Pro Forma Net income attributable to OCI Resources LP | $ | 8 | $ | 14 | $ | 26.2 | $ | 46.4 | ||||||||
Pro Forma Net income per unit (basic and diluted) | $ | 0.4 | $ | 1.31 | ||||||||||||
-1 | Reflects the elimination of income taxes incurred by the Predecessor. OCI Resources is a partnership for income tax purposes and is not expected to incur income tax as a publicly traded partnership. |
NET_INCOME_PER_UNIT_AND_CASH_D
NET INCOME PER UNIT AND CASH DISTRIBUTION | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Earnings Per Share [Abstract] | ' | |||||||
NET INCOME PER UNIT AND CASH DISTRIBUTION | ' | |||||||
NET INCOME PER UNIT AND CASH DISTRIBUTION | ||||||||
Net income per unit applicable to limited partners (including subordinated unitholders) is computed by dividing limited partners’ interest in net income attributable to OCI Resources LP, after deducting the general partner's interest and any incentive distributions, by the weighted average number of outstanding common and subordinated units. Our net income is allocated to the general partner and limited partners in accordance with their respective partnership percentages, after giving effect to priority income allocations for incentive distributions, if any, to our general partner, pursuant to our partnership agreement. Net income per unit is only calculated for the Partnership subsequent to the IPO as no units were outstanding prior to September 18, 2013. Earnings in excess of distributions are allocated to the general partner and limited partners based on their respective ownership interests. Payments made to our unitholders are determined in relation to actual distributions declared and are not based on the net income allocations used in the calculation of net income per unit. For the three and nine months ended September 30, 2013, the weighted-average number of units outstanding equals the total number of units outstanding. | ||||||||
In addition to the common and subordinated units, we have also identified the general partner interest and incentive distribution rights ("IDRs") as participating securities and use the two-class method when calculating the net income per unit applicable to limited partners, which is based on the weighted-average number of common units outstanding during the period. Basic and diluted net income per unit applicable to limited partners are the same because we do not have any potentially dilutive units outstanding. | ||||||||
The calculation of net income per unit is as follows: | ||||||||
($ and unit data in millions, except per unit data) | Three Months Ended | Nine Months Ended | ||||||
September 30, 2013 | September 30, 2013 | |||||||
Net income attributable to OCI Resources, LP subsequent to initial public offering | $ | 0.5 | $ | 0.5 | ||||
Less: General partner's interest in net income subsequent to initial public offering | — | — | ||||||
Limited partners' interest in net income subsequent to initial public offering | $ | 0.5 | $ | 0.5 | ||||
Net income per limited partner unit subsequent to initial public offering: | ||||||||
Common - Public and OCI Holdings | $ | 0.03 | $ | 0.03 | ||||
Subordinated - OCI Holdings | $ | 0.03 | $ | 0.03 | ||||
Limited partner units outstanding: | ||||||||
Common units - Public | 5 | 5 | ||||||
Common units - OCI Holdings | 4.8 | 4.8 | ||||||
Subordinated units - OCI Holdings | 9.8 | 9.8 | ||||||
Intent to Distribute the Minimum Quarterly Distribution | ||||||||
Beginning with the quarter ending December 31, 2013, on or about the 15th day of each of February, May, August and November, we intend to distribute to the holders of record of common and subordinated units on or about the first day of each such month at least the minimum quarterly distribution of $0.5000 per unit, or $2.00 on an annualized basis, to the extent we have sufficient cash after establishment of cash reserves and payment of fees and expenses, including payments to our general partner and its affiliates. The initial minimum quarterly distribution period will be the period from September 18, 2013 through December 31, 2013. | ||||||||
Even if we do not modify or terminate our cash distribution policy, the amount of distributions and the decision to make any distribution will be made by our general partner. Our partnership agreement does not contain a requirement for us to pay distributions to our unitholders, and we do not guarantee that we will pay the minimum quarterly distribution or any distribution on the units in any quarter. However, our partnership agreement does contain provisions intended to motivate our general partner to make steady, increasing and sustainable distributions over time. | ||||||||
Distributions from Operating Surplus During the Subordination Period | ||||||||
If we make a distribution from operating surplus for any quarter during the subordination period (beginning on September 18, 2013 and expiring on the first business day after the distribution to unitholders in respect of any quarter, beginning with the quarter ending September 30, 2016), our partnership agreement requires that we make the distribution in the following manner: | ||||||||
• | first, 98.0% to the common unitholders, pro rata, and 2.0% to our general partner, until we distribute for each common unit an amount equal to the minimum quarterly distribution for that quarter; | |||||||
• | second, 98.0% to the common unitholders, pro rata, and 2.0% to our general partner, until we distribute for each outstanding common unit an amount equal to any arrearages in the payment of the minimum quarterly distribution on the common units with respect to any prior quarters; | |||||||
• | third, 98.0% to the subordinated unitholders, pro rata, and 2.0% to our general partner, until we distribute for each subordinated unit an amount equal to the minimum quarterly distribution for that quarter; and | |||||||
• | thereafter, in the manner described in - "General Partner Interest and Incentive Distribution Rights" below. | |||||||
General Partner Interest and Incentive Distribution Rights | ||||||||
Our partnership agreement provides that our general partner initially will be entitled to 2.0% of all distributions that we make prior to our liquidation. Our general partner has the right, but not the obligation, to contribute up to a proportionate amount of capital to us in order to maintain its 2.0% general partner interest if we issue additional units. Our general partner's 2.0% interest, and the percentage of our cash distributions to which our general partner is entitled from such 2.0% interest, will be proportionately reduced if we issue additional units in the future (other than (1) the issuance of common units upon conversion of outstanding subordinated units or (2) the issuance of common units upon a reset of the IDRs), and our general partner does not contribute a proportionate amount of capital to us in order to maintain its 2.0% general partner interest. Our partnership agreement does not require that our general partner fund its capital contribution with cash. It may, instead, fund its capital contribution by contributing to us common units or other property. | ||||||||
IDRs represent the right to receive increasing percentages (13.0%, 23.0% and 48.0%) of quarterly distributions from operating surplus after we have achieved the minimum quarterly distribution and the target distribution levels. Our general partner currently holds the IDRs, but may transfer these rights separately from its general partner interest, subject to certain restrictions in our partnership agreement. | ||||||||
Percentage Allocations of Distributions from Operating Surplus | ||||||||
The following table illustrates the percentage allocations of distributions from operating surplus between the unitholders and our general partner based on the specified target distribution levels. The amounts set forth under the column heading "Marginal Percentage Interest in Distributions" are the percentage interests of our general partner and the unitholders in any distributions from operating surplus we distribute up to and including the corresponding amount in the column "Total Quarterly Distribution per Unit Target Amount." The percentage interests shown for our unitholders and our general partner for the minimum quarterly distribution also apply to quarterly distribution amounts that are less than the minimum quarterly distribution. The percentage interests set forth below for our general partner (1) include its 2.0% general partner interest, (2) assume that our general partner has contributed any additional capital necessary to maintain its 2.0% general partner interest, (3) assume that our general partner has not transferred its incentive distribution rights and (4) assume there are no arrearages on common units. | ||||||||
Marginal Percentage | ||||||||
Interest in | ||||||||
Distributions | ||||||||
Total Quarterly | Unitholders | General Partner | ||||||
Distribution per Unit | ||||||||
Target Amount | ||||||||
Minimum Quarterly Distribution | $0.50 | 98 | % | 2 | % | |||
First Target Distribution | above $0.5000 up to $0.5750 | 98 | % | 2 | % | |||
Second Target Distribution | above $0.5750 up to $0.6250 | 85 | % | 15 | % | |||
Third Target Distribution | above $0.6250 up to $0.7500 | 75 | % | 25 | % | |||
Thereafter | above $0.7500 | 50 | % | 50 | % |
INVENTORY
INVENTORY | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Inventory Disclosure [Abstract] | ' | |||||||
INVENTORY | ' | |||||||
INVENTORY | ||||||||
Inventory is carried at the lower of cost or market on a first-in, first-out basis. Market is based on current replacement cost for raw materials and stores inventory, and finished goods is based on net realizable value. | ||||||||
Inventory as of September 30, 2013 and December 31, 2012 consists of the following: | ||||||||
($ in millions) | September 30, | December 31, | ||||||
2013 | 2012 | |||||||
Raw materials | $ | 7.3 | $ | 5.3 | ||||
Finished goods | 12.1 | 13.5 | ||||||
Stores inventory | 25.3 | 23.3 | ||||||
Total | $ | 44.7 | $ | 42.1 | ||||
DEBT
DEBT | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Debt Disclosure [Abstract] | ' | |||||||
DEBT | ' | |||||||
DEBT | ||||||||
Long-term debt as of September 30, 2013 and December 31, 2012 consists of the following: | ||||||||
($ in millions) | September 30, | December 31, | ||||||
2013 | 2012 | |||||||
Variable Rate Demand Revenue Bonds, principal due October 1, 2018, interest payable monthly, bearing monthly interest rate of 0.16% and 0.28% | $ | 11.4 | $ | 11.4 | ||||
Variable Rate Demand Revenue Bonds, principal due August 1, 2017, interest payable monthly, bearing monthly interest rate of 0.16% and 0.28% | 8.6 | 8.6 | ||||||
Note payable to Comerica Bank, principal due quarterly installments of $1,000 beginning in 2011, interest payable quarterly, bearing quarterly variable interest rate of 0% and 1.86% | — | 32 | ||||||
OCI Wyoming credit facility, expiring July 18, 2018 | 135 | — | ||||||
Total debt | 155 | $ | 52 | |||||
Current portion of long-term debt | — | (4.0 | ) | |||||
Total long-term debt | $ | 155 | $ | 48 | ||||
The above revenue bonds require OCI Wyoming to maintain standby letters of credit totaling $20.3 million at September 30, 2013 and December 31, 2012. These letters of credit require compliance with certain covenants, including minimum net worth, maximum debt to net worth, and interest coverage ratios. As of September 30, 2013 and December 31, 2012, OCI Wyoming was in compliance with these debt covenants. | ||||||||
Aggregate maturities required on long-term debt at September 30, 2013 are due in future years as follows: | ||||||||
2014 | $ | — | ||||||
2015 | — | |||||||
2016 | — | |||||||
2017 | 8.6 | |||||||
2018 | 146.4 | |||||||
Total | $ | 155 | ||||||
OCI Wyoming Credit Facility | ||||||||
On July 18, 2013, OCI Wyoming entered into a $190.0 million senior unsecured revolving credit facility, the "OCI Wyoming Credit Facility", with Bank of America, N.A., as administrative agent, and a syndicate of lenders, which will mature on the fifth anniversary of the closing date of such credit facility. The OCI Wyoming Credit Facility provides for revolving loans to fund working capital requirements, capital expenditures, to consummate permitted acquisitions and for all other lawful partnership purposes. As of September 30, 2013, OCI Wyoming had borrowings outstanding in the amount of $135.0 million under the OCI Wyoming Credit Facility that were used to refinance $30.0 million of an existing credit facility, fund an $11.5 million special distribution to Wyoming Co., and a $91.5 million aggregate special distribution to NRP and us, and to pay approximately $1.3 million of debt issuance costs. The OCI Wyoming Credit Facility has an accordion feature that allows OCI Wyoming to increase the available revolving borrowings under the facility by up to an additional $75.0 million, subject to OCI Wyoming receiving increased commitments from existing lenders or new commitments from new lenders and the satisfaction of certain other conditions. In addition, the OCI Wyoming Credit Facility includes a sublimit up to $20.0 million for same-day swing line advances and a sublimit up to $40.0 million for letters of credit. OCI Wyoming's obligations under the OCI Wyoming Credit Facility are guaranteed by each of its material domestic, and to the extent no material adverse tax consequences would result, foreign wholly owned subsidiaries. OCI Wyoming's obligations under the OCI Wyoming Credit Facility are unsecured. | ||||||||
The OCI Wyoming Credit Facility contains various covenants and restrictive provisions that limit (subject to certain exceptions) OCI Wyoming's ability to: | ||||||||
• | make distributions on or redeem or repurchase units; | |||||||
• | incur or guarantee additional debt; | |||||||
• | make certain investments and acquisitions; | |||||||
• | incur certain liens or permit them to exist; | |||||||
• | enter into certain types of transactions with affiliates of OCI Wyoming; | |||||||
• | merge or consolidate with another company; and | |||||||
• | transfer, sell or otherwise dispose of assets. | |||||||
The OCI Wyoming Credit Facility also requires quarterly maintenance of a consolidated leverage ratio (as defined in the OCI Wyoming Credit Facility) of not more than 3.00 to 1.00 and a consolidated fixed charge coverage ratio (as defined in the OCI Wyoming Credit Facility) of not less than 1.00 to 1.00. | ||||||||
In addition, the OCI Wyoming Credit Facility contains events of default customary for transactions of this nature, including (i) failure to make payments required under the OCI Wyoming Credit Facility, (ii) events of default resulting from failure to comply with covenants and financial ratios in the OCI Wyoming Credit Facility, (iii) the occurrence of a change of control, (iv) the institution of insolvency or similar proceedings against OCI Wyoming and (v) the occurrence of a default under any other material indebtedness OCI Wyoming may have. Upon the occurrence and during the continuation of an event of default, subject to the terms and conditions of the OCI Wyoming Credit Facility, the lenders may terminate all outstanding commitments under the OCI Wyoming Credit Facility and may declare any outstanding principal of the OCI Wyoming Credit Facility debt, together with accrued and unpaid interest, to be immediately due and payable. | ||||||||
Under the OCI Wyoming Credit Facility, a change of control is triggered if OCI Chemical and its wholly-owned subsidiaries, directly or indirectly, cease to own all of the equity interests, or cease to have the ability to elect a majority of the board of directors (or similar governing body) of OCI GP (or any entity that performs the functions of our general partner). In addition, a change of control would be triggered if we cease to own at least 50.1% of the economic interests in OCI Wyoming or cease to have the ability to elect a majority of the members of OCI Wyoming's partnership committee. | ||||||||
Loans under the OCI Wyoming Credit Facility bear interest at OCI Wyoming's option at either: | ||||||||
• | a Base Rate, which equals the highest of (i) the federal funds rate in effect on such day plus 0.50%, (ii) the administrative agent's prime rate in effect on such day and (iii) one-month LIBOR plus 1.0%, in each case, plus an applicable margin; or | |||||||
• | a LIBOR Rate plus an applicable margin. | |||||||
The unused portion of the OCI Wyoming Credit Facility is subject to an unused line fee ranging from 0.275% to 0.350% per annum based on OCI Wyoming's then current consolidated leverage ratio. | ||||||||
Revolving Credit Facility | ||||||||
On July 18, 2013, we entered into a $10.0 million senior secured revolving credit facility, the "Revolving Credit Facility", with Bank of America, N.A., as administrative agent, and a syndicate of lenders, which will mature on the fifth anniversary of the closing date of such credit facility. The Revolving Credit Facility provides for revolving loans to be available to fund distributions on our units and working capital requirements and capital expenditures, to consummate permitted acquisitions and for all other lawful partnership purposes. At September 30, 2013, we had no outstanding borrowings under the Revolving Credit Facility. In addition, the Revolving Credit Facility includes a sublimit up to $5.0 million for same-day swing line advances and a sublimit up to $5.0 million for letters of credit. Our obligations under the Revolving Credit Facility are guaranteed by each of our material domestic subsidiaries other than OCI Wyoming, and to the extent no material adverse tax consequences would result, foreign wholly owned subsidiaries. In addition, our obligations under the Revolving Credit Facility are secured by a pledge of substantially all of our assets (subject to certain exceptions), including the partnership interests held in OCI Wyoming by us. | ||||||||
The Revolving Credit Facility contains various covenants and restrictive provisions that limit (subject to certain exceptions) our ability to (and the ability of our subsidiaries, including without limitation, OCI Wyoming to): | ||||||||
• make distributions on or redeem or repurchase units; | ||||||||
• incur or guarantee additional debt; | ||||||||
• make certain investments and acquisitions; | ||||||||
• incur certain liens or permit them to exist; | ||||||||
• enter into certain types of transactions with affiliates; | ||||||||
• merge or consolidate with another company; and | ||||||||
• transfer, sell or otherwise dispose of assets. | ||||||||
The Revolving Credit Facility also requires quarterly maintenance of a consolidated fixed charge coverage ratio (as defined in the Revolving Credit Facility) of not less than 1.00 to 1.00. | ||||||||
In addition, the Revolving Credit Facility contains events of default customary for transactions of this nature, including (i) failure to make payments required under the Revolving Credit Facility, (ii) events of default resulting from failure to comply with covenants and financial ratios, (iii) the occurrence of a change of control, (iv) the institution of insolvency or similar proceedings against us or our material subsidiaries and (v) the occurrence of a default under any other material indebtedness we (or any of our subsidiaries) may have, including the OCI Wyoming Credit Facility. Upon the occurrence and during the continuation of an event of default, subject to the terms and conditions of the Revolving Credit Facility, the lenders may terminate all outstanding commitments under the Revolving Credit Facility and may declare any outstanding principal of the Revolving Credit Facility debt, together with accrued and unpaid interest, to be immediately due and payable. | ||||||||
Under the Revolving Credit Facility, a change of control is triggered if OCI Chemical and its wholly-owned subsidiaries, directly or indirectly, cease to own all of the equity interests, or cease to have the ability to elect a majority of the board of directors (or similar governing body) of, OCI Holdings or OCI GP (or any entity that performs the functions of our general partner). In addition, a change of control would be triggered if we cease to own at least 50.1% of the economic interests in OCI Wyoming or ceases to have the ability to elect a majority of the members of OCI Wyoming's partnership committee. | ||||||||
Loans under the Revolving Credit Facility bear interest at our option at either: | ||||||||
• | a Base Rate, which equals the highest of (i) the federal funds rate in effect on such day plus 0.50%, (ii) the administrative agent's prime rate in effect on such day and (iii) one-month LIBOR plus 1.0%, in each case, plus an applicable margin; or | |||||||
• | a LIBOR Rate plus an applicable margin. | |||||||
The unused portion of the Revolving Credit Facility is subject to an unused line fee ranging from 0.275% to 0.350% based on our then current consolidated leverage ratio. |
RECLAMATION_RESERVE
RECLAMATION RESERVE | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Asset Retirement Obligation Disclosure [Abstract] | ' | |||||||
RECLAMATION RESERVE | ' | |||||||
RECLAMATION RESERVE | ||||||||
Reclamation reserve as of September 30, 2013 and December 31, 2012 was comprised as follows: | ||||||||
($ in millions) | September 30, | December 31, | ||||||
2013 | 2012 | |||||||
Balance at beginning of period | $ | 3.6 | $ | 3.5 | ||||
Accretion | 0.1 | 0.1 | ||||||
Balance at end of period | $ | 3.7 | $ | 3.6 | ||||
INCOME_TAXES
INCOME TAXES | 9 Months Ended |
Sep. 30, 2013 | |
Income Tax Disclosure [Abstract] | ' |
INCOME TAXES | ' |
INCOME TAXES | |
The Partnership is a limited partnership and generally is not subject to federal or certain state income taxes. | |
The Predecessor was subject to income tax and was included in the consolidated income tax returns of OCI Enterprises. Income taxes were allocated to the Predecessor based on separate-company computations of income or loss. The income tax expense for the period ended September 30, 2012 are those of the Predecessor. For the period ended September 30, 2013, included in income tax expense is the expense of the Predecessor through September 17, 2013. |
COMMITMENTS_AND_CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 9 Months Ended |
Sep. 30, 2013 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
COMMITMENTS AND CONTINGENCIES | ' |
COMMITMENTS AND CONTINGENCIES | |
From time to time, the Partnership has various litigation, claims, and assessments that arise in the normal course of business. Management does not believe, based upon its evaluation and discussion with counsel, that the ultimate outcome of any current matters, individually or in the aggregate, would have a material effect on the Partnership's financial position, results of operations, or cash flows. | |
We have a self-bond agreement with the Wyoming Department of Environmental Quality under which we commit to pay directly for reclamation costs. As of September 30, 2013, the amount of the bond was $27.1 million (December 31, 2012: $21.3 million), which is the amount we would need to pay the State of Wyoming for reclamation costs if we cease mining operations currently. The amount of this self-bond increased in August 2013 and is subject to change upon periodic re-evaluation by the Land Quality Division. |
RELATEDPARTY_TRANSACTIONS
RELATED-PARTY TRANSACTIONS | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Related Party Transactions [Abstract] | ' | |||||||||||||||
RELATED-PARTY TRANSACTIONS | ' | |||||||||||||||
RELATED-PARTY TRANSACTIONS | ||||||||||||||||
OCI Chemical is the exclusive sales agent for the Partnership and through its membership in ANSAC, OCI Chemical is responsible for promoting and increasing the use and sale of soda ash and other refined or processed sodium products produced. All actual sales and marketing costs incurred by OCI Chemical are charged directly to the Partnership. Selling, marketing and general administrative expenses also include amounts charged to the Partnership by OCI Enterprises and OCI Chemical principally consisting of salaries, benefits, office supplies, professional fees, travel, rent and other costs of certain assets used by the Partnership. | ||||||||||||||||
Net sales to affiliates for the three and nine months ended September 30, 2013 and 2012 are as follows: | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
($ in millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||||
ANSAC | $ | 45.9 | $ | 55.9 | $ | 144.3 | $ | 172.1 | ||||||||
OCI Alabama LLC | 1.7 | 1.8 | 5.7 | 5.9 | ||||||||||||
Total | $ | 47.6 | $ | 57.7 | $ | 150 | $ | 178 | ||||||||
The total costs charged to the Partnership by OCI Enterprises and OCI Chemical, including ANSAC related charge for the three and nine months ended September 30, 2013 and 2012 are as follows: | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
($ in millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||||
Selling and marketing | $ | 1.2 | $ | 1.1 | $ | 4 | $ | 3.3 | ||||||||
General and administrative | 1.9 | 1.6 | 5.7 | 4.9 | ||||||||||||
Total | $ | 3.1 | $ | 2.7 | $ | 9.7 | $ | 8.2 | ||||||||
At September 30, 2013 and December 31, 2012, the Partnership had receivables and payables with OCI affiliated entities as follows: | ||||||||||||||||
As of | ||||||||||||||||
($ in millions) | September 30, | December 31, | September 30, | December 31, | ||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Receivables from Affiliates | Receivables from Affiliates | Payables to Affiliates | Payables to Affiliates | |||||||||||||
OCI Enterprises Inc. | $ | 0.1 | $ | 0.7 | $ | 4.7 | $ | 18.3 | ||||||||
OCI Chemical Corporation | 11.9 | 24.4 | 1.5 | 2.5 | ||||||||||||
OCI - Europe | 8 | — | — | — | ||||||||||||
OCI Wyoming Co. - Consideration payable for partnership formation | — | — | 65.3 | — | ||||||||||||
OCI Holdings -Consideration payable for partnership formation | — | — | 18 | — | ||||||||||||
Other | 0.1 | 1.5 | — | 1.5 | ||||||||||||
Total | $ | 20.1 | $ | 26.6 | $ | 89.5 | $ | 22.3 | ||||||||
Accounts payable at December 31, 2012 included amounts payable to Rock Springs Royalty Corporation ("RSRC"), a wholly owned subsidiary of Anadarko, of $1.9 million. |
MAJOR_CUSTOMERS_AND_SEGMENT_RE
MAJOR CUSTOMERS AND SEGMENT REPORTING | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||
MAJOR CUSTOMERS AND SEGMENT REPORTING | ' | |||||||||||||||
The Partnership has one operating segment. The Partnership's net sales by geographic area for the three and nine months ended September 30, 2013 and 2012 are as follows: | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
($ in millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||||
Domestic | $ | 47.3 | $ | 50.4 | $ | 147.4 | $ | 150.2 | ||||||||
International | ||||||||||||||||
ANSAC | 45.9 | 55.9 | 144.3 | 172.1 | ||||||||||||
Other | 12.4 | 5.7 | 32.9 | 24.9 | ||||||||||||
Total international | 58.3 | 61.6 | 177.2 | 197 | ||||||||||||
Total net sales | $ | 105.6 | $ | 112 | $ | 324.6 | $ | 347.2 | ||||||||
The Partnership's largest customer by sales is ANSAC. In addition to ANSAC, the Partnership had sales to one customer that accounted for 5.9% and 6.3% of total sales for the three and nine months ended September 30, 2013, respectively (three and nine months ended September 30, 2012: 11.5% and 11.4%, respectively). |
FAIR_VALUE_MEASUREMENTS
FAIR VALUE MEASUREMENTS | 9 Months Ended | |
Sep. 30, 2013 | ||
Fair Value Disclosures [Abstract] | ' | |
FAIR VALUE MEASUREMENTS | ' | |
FAIR VALUE MEASUREMENTS | ||
The Partnership measures certain financial and non-financial assets and liabilities at fair value on a recurring basis. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market in an orderly transaction between market participants on the measurement date. Fair value disclosures are reflected in a three-level hierarchy, maximizing the use of observable inputs and minimizing the use of unobservable inputs. | ||
A three-level valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability on the measurement date. The three levels are defined as follows: | ||
Ÿ | Level 1-inputs to the valuation methodology are quoted prices (unadjusted) for an identical asset or liability in an active market. | |
Ÿ | Level 2-inputs to the valuation methodology include quoted prices for a similar asset or liability in an active market or model-derived valuations in which all significant inputs are observable for substantially the full term of the asset or liability. | |
Ÿ | Level 3-inputs to the valuation methodology are unobservable and significant to the fair value measurement of the asset or liability. | |
An asset or liability's categorization within the valuation hierarchy is based upon the lowest level of input that is significant | ||
to the fair value measurement. | ||
The following is a description of the valuation methodologies used for assets and liabilities measured at fair value, as well | ||
as the general classification of such assets and liabilities pursuant to the valuation hierarchy. | ||
Cash and cash equivalents' carrying value approximates fair value due to the short maturity of the instruments. | ||
Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
We have entered into an interest rate swap designed to hedge our exposure to possible increases in interest rates. The interest rate swap contract was measured at fair value on a recurring basis using Level 2 inputs that are readily available in public markets or can be derived from information available in publicly quoted markets. This contract had an aggregate notional value of $24.5 million and a fair value of $0.4 million as of September 30, 2013 (December 31, 2012: notional value of $26.0 million; fair value of $0.6 million) | ||
Non-Financial Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis | ||
At September 30, 2013, no material fair value adjustments or fair value measurements were required for these non-financial assets or liabilities. | ||
Financial Assets and Liabilities not Measured at Fair Value | ||
The carrying amount of long-term debt approximates fair value because the interest rates fluctuate with changes in the London InterBank Offered Rate (LIBOR), and changes in the applicable credit spreads have not had a material impact the fair value of long-term debt at September 30, 2013. See Note 6 "Debt" for additional information on our debt arrangements. |
SUBSEQUENT_EVENTS
SUBSEQUENT EVENTS | 9 Months Ended |
Sep. 30, 2013 | |
Subsequent Events [Abstract] | ' |
SUBSEQUENT EVENTS | ' |
SUBSEQUENT EVENTS | |
On October 2, 2013, U.S. Congress passed the Helium Stewardship Act of 2013, which among other things, gives U.S. natural soda ash producers some relief on royalties paid to the federal government for trona mined on federal land, reducing the royalty rate from 6% to 4%, for the next two years. | |
On October 28, 2013, the Partnership paid approximately $65.3 million of net proceeds to Wyoming Co. in exchange for the contribution of its 10.02% limited partner interest in OCI Wyoming to us and distributed approximately $18.0 million to OCI Chemical, via OCI Holdings. |
PRO_FORMA_FINANCIAL_INFORMATIO1
PRO FORMA FINANCIAL INFORMATION (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Pro Forma Financial Information [Abstract] | ' | |||||||||||||||
Pro Forma Financial Information | ' | |||||||||||||||
The following unaudited pro forma financial information has been derived from the unaudited condensed consolidated financial statements for the three and nine months ended September 2012 and 2013. Such unaudited pro forma financial information has been prepared to reflect the restructuring and new ownership interest structure of the Partnership's 40.98% general partnership interest and 10.02% limited partner interest, as well as, NRP's 39.37% general partner interest and 9.63% limited partner interest in OCI Wyoming as if such ownership structure had existed as of January 1, 2012. The pro forma financial information also excludes income taxes incurred by the Predecessor as the Partnership is not subject to income taxes. The pro forma financial information is not necessarily indicative of what the actual results of operations or financial position of the Partnership would have been if the transactions had in fact occurred on the date or for the period indicated, nor do they purport to project the results of operations or financial position of the Partnership for any future periods or as of any date. | ||||||||||||||||
PRO - FORMA FINANCIAL INFORMATION | Three Months Ended | Three Months Ended | Nine Months Ended | Nine Months Ended | ||||||||||||
September 30, 2013 | September 30, 2012 | September 30, 2013 | September 30, 2012 | |||||||||||||
($ in millions) | ||||||||||||||||
Pro Forma Net income | ||||||||||||||||
Net income | $ | 13.9 | $ | 23.9 | $ | 45.2 | $ | 79.3 | ||||||||
Add back: | ||||||||||||||||
Income taxes(1) | 2.1 | 3.8 | 7.1 | 12.7 | ||||||||||||
Pro Forma Net income | 16 | 27.7 | 52.3 | 92 | ||||||||||||
Pro Forma Net income attributable to noncontrolling interest | 8 | 13.7 | 26.1 | 45.6 | ||||||||||||
Pro Forma Net income attributable to OCI Resources LP | $ | 8 | $ | 14 | $ | 26.2 | $ | 46.4 | ||||||||
Pro Forma Net income per unit (basic and diluted) | $ | 0.4 | $ | 1.31 | ||||||||||||
-1 | Reflects the elimination of income taxes incurred by the Predecessor. OCI Resources is a partnership for income tax purposes and is not expected to incur income tax as a publicly traded partnership. |
NET_INCOME_PER_UNIT_AND_CASH_D1
NET INCOME PER UNIT AND CASH DISTRIBUTION (Tables) | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Earnings Per Share [Abstract] | ' | |||||||
Calculation of net income per unit | ' | |||||||
The calculation of net income per unit is as follows: | ||||||||
($ and unit data in millions, except per unit data) | Three Months Ended | Nine Months Ended | ||||||
September 30, 2013 | September 30, 2013 | |||||||
Net income attributable to OCI Resources, LP subsequent to initial public offering | $ | 0.5 | $ | 0.5 | ||||
Less: General partner's interest in net income subsequent to initial public offering | — | — | ||||||
Limited partners' interest in net income subsequent to initial public offering | $ | 0.5 | $ | 0.5 | ||||
Net income per limited partner unit subsequent to initial public offering: | ||||||||
Common - Public and OCI Holdings | $ | 0.03 | $ | 0.03 | ||||
Subordinated - OCI Holdings | $ | 0.03 | $ | 0.03 | ||||
Limited partner units outstanding: | ||||||||
Common units - Public | 5 | 5 | ||||||
Common units - OCI Holdings | 4.8 | 4.8 | ||||||
Subordinated units - OCI Holdings | 9.8 | 9.8 | ||||||
Percentage allocations of distributions from operating surplus | ' | |||||||
The following table illustrates the percentage allocations of distributions from operating surplus between the unitholders and our general partner based on the specified target distribution levels. The amounts set forth under the column heading "Marginal Percentage Interest in Distributions" are the percentage interests of our general partner and the unitholders in any distributions from operating surplus we distribute up to and including the corresponding amount in the column "Total Quarterly Distribution per Unit Target Amount." The percentage interests shown for our unitholders and our general partner for the minimum quarterly distribution also apply to quarterly distribution amounts that are less than the minimum quarterly distribution. The percentage interests set forth below for our general partner (1) include its 2.0% general partner interest, (2) assume that our general partner has contributed any additional capital necessary to maintain its 2.0% general partner interest, (3) assume that our general partner has not transferred its incentive distribution rights and (4) assume there are no arrearages on common units. | ||||||||
Marginal Percentage | ||||||||
Interest in | ||||||||
Distributions | ||||||||
Total Quarterly | Unitholders | General Partner | ||||||
Distribution per Unit | ||||||||
Target Amount | ||||||||
Minimum Quarterly Distribution | $0.50 | 98 | % | 2 | % | |||
First Target Distribution | above $0.5000 up to $0.5750 | 98 | % | 2 | % | |||
Second Target Distribution | above $0.5750 up to $0.6250 | 85 | % | 15 | % | |||
Third Target Distribution | above $0.6250 up to $0.7500 | 75 | % | 25 | % | |||
Thereafter | above $0.7500 | 50 | % | 50 | % |
INVENTORY_Tables
INVENTORY (Tables) | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Inventory Disclosure [Abstract] | ' | |||||||
Schedule of inventory | ' | |||||||
Inventory as of September 30, 2013 and December 31, 2012 consists of the following: | ||||||||
($ in millions) | September 30, | December 31, | ||||||
2013 | 2012 | |||||||
Raw materials | $ | 7.3 | $ | 5.3 | ||||
Finished goods | 12.1 | 13.5 | ||||||
Stores inventory | 25.3 | 23.3 | ||||||
Total | $ | 44.7 | $ | 42.1 | ||||
DEBT_Tables
DEBT (Tables) | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Debt Disclosure [Abstract] | ' | |||||||
Components of long-term debt | ' | |||||||
Long-term debt as of September 30, 2013 and December 31, 2012 consists of the following: | ||||||||
($ in millions) | September 30, | December 31, | ||||||
2013 | 2012 | |||||||
Variable Rate Demand Revenue Bonds, principal due October 1, 2018, interest payable monthly, bearing monthly interest rate of 0.16% and 0.28% | $ | 11.4 | $ | 11.4 | ||||
Variable Rate Demand Revenue Bonds, principal due August 1, 2017, interest payable monthly, bearing monthly interest rate of 0.16% and 0.28% | 8.6 | 8.6 | ||||||
Note payable to Comerica Bank, principal due quarterly installments of $1,000 beginning in 2011, interest payable quarterly, bearing quarterly variable interest rate of 0% and 1.86% | — | 32 | ||||||
OCI Wyoming credit facility, expiring July 18, 2018 | 135 | — | ||||||
Total debt | 155 | $ | 52 | |||||
Current portion of long-term debt | — | (4.0 | ) | |||||
Total long-term debt | $ | 155 | $ | 48 | ||||
Aggregate maturities on long-term debt | ' | |||||||
Aggregate maturities required on long-term debt at September 30, 2013 are due in future years as follows: | ||||||||
2014 | $ | — | ||||||
2015 | — | |||||||
2016 | — | |||||||
2017 | 8.6 | |||||||
2018 | 146.4 | |||||||
Total | $ | 155 | ||||||
RECLAMATION_RESERVE_Tables
RECLAMATION RESERVE (Tables) | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Asset Retirement Obligation Disclosure [Abstract] | ' | |||||||
Schedule of reclamation reserve | ' | |||||||
Reclamation reserve as of September 30, 2013 and December 31, 2012 was comprised as follows: | ||||||||
($ in millions) | September 30, | December 31, | ||||||
2013 | 2012 | |||||||
Balance at beginning of period | $ | 3.6 | $ | 3.5 | ||||
Accretion | 0.1 | 0.1 | ||||||
Balance at end of period | $ | 3.7 | $ | 3.6 | ||||
RELATEDPARTY_TRANSACTIONS_Tabl
RELATED-PARTY TRANSACTIONS (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Net Sales to Affiliates | ' | |||||||||||||||
Related Party Transaction [Line Items] | ' | |||||||||||||||
Schedule of related party transactions | ' | |||||||||||||||
Net sales to affiliates for the three and nine months ended September 30, 2013 and 2012 are as follows: | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
($ in millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||||
ANSAC | $ | 45.9 | $ | 55.9 | $ | 144.3 | $ | 172.1 | ||||||||
OCI Alabama LLC | 1.7 | 1.8 | 5.7 | 5.9 | ||||||||||||
Total | $ | 47.6 | $ | 57.7 | $ | 150 | $ | 178 | ||||||||
Costs Charged by Affiliates | ' | |||||||||||||||
Related Party Transaction [Line Items] | ' | |||||||||||||||
Schedule of related party transactions | ' | |||||||||||||||
The total costs charged to the Partnership by OCI Enterprises and OCI Chemical, including ANSAC related charge for the three and nine months ended September 30, 2013 and 2012 are as follows: | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
($ in millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||||
Selling and marketing | $ | 1.2 | $ | 1.1 | $ | 4 | $ | 3.3 | ||||||||
General and administrative | 1.9 | 1.6 | 5.7 | 4.9 | ||||||||||||
Total | $ | 3.1 | $ | 2.7 | $ | 9.7 | $ | 8.2 | ||||||||
Receivables and Payables with Affiliates | ' | |||||||||||||||
Related Party Transaction [Line Items] | ' | |||||||||||||||
Schedule of related party transactions | ' | |||||||||||||||
At September 30, 2013 and December 31, 2012, the Partnership had receivables and payables with OCI affiliated entities as follows: | ||||||||||||||||
As of | ||||||||||||||||
($ in millions) | September 30, | December 31, | September 30, | December 31, | ||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Receivables from Affiliates | Receivables from Affiliates | Payables to Affiliates | Payables to Affiliates | |||||||||||||
OCI Enterprises Inc. | $ | 0.1 | $ | 0.7 | $ | 4.7 | $ | 18.3 | ||||||||
OCI Chemical Corporation | 11.9 | 24.4 | 1.5 | 2.5 | ||||||||||||
OCI - Europe | 8 | — | — | — | ||||||||||||
OCI Wyoming Co. - Consideration payable for partnership formation | — | — | 65.3 | — | ||||||||||||
OCI Holdings -Consideration payable for partnership formation | — | — | 18 | — | ||||||||||||
Other | 0.1 | 1.5 | — | 1.5 | ||||||||||||
Total | $ | 20.1 | $ | 26.6 | $ | 89.5 | $ | 22.3 | ||||||||
MAJOR_CUSTOMERS_AND_SEGMENT_RE1
MAJOR CUSTOMERS AND SEGMENT REPORTING (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||
Schedule of sales by geographic area | ' | |||||||||||||||
The Partnership has one operating segment. The Partnership's net sales by geographic area for the three and nine months ended September 30, 2013 and 2012 are as follows: | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
($ in millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||||
Domestic | $ | 47.3 | $ | 50.4 | $ | 147.4 | $ | 150.2 | ||||||||
International | ||||||||||||||||
ANSAC | 45.9 | 55.9 | 144.3 | 172.1 | ||||||||||||
Other | 12.4 | 5.7 | 32.9 | 24.9 | ||||||||||||
Total international | 58.3 | 61.6 | 177.2 | 197 | ||||||||||||
Total net sales | $ | 105.6 | $ | 112 | $ | 324.6 | $ | 347.2 | ||||||||
CORPORATE_STRUCTURE_AND_SUMMAR1
CORPORATE STRUCTURE AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) (USD $) | 0 Months Ended | 9 Months Ended | 0 Months Ended | |||||||
In Millions, unless otherwise specified | Oct. 28, 2013 | Oct. 28, 2013 | Sep. 30, 2013 | Oct. 28, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 18, 2013 | Sep. 18, 2013 | Sep. 18, 2013 | Oct. 28, 2013 |
Subsequent Event [Member] | OCI Wyoming LP [Member] | OCI Wyoming LP [Member] | OCI Wyoming LP [Member] | OCI Wyoming LP [Member] | OCI Wyoming LP [Member] | OCI Wyoming LP [Member] | OCI Wyoming LP [Member] | OCI Wyoming LP [Member] | OCI Wyoming LP [Member] | |
OCI Wyoming Co [Member] | Natural Resource Partners LP [Member] | Natural Resource Partners LP [Member] | OCI Wyoming Co [Member] | Predecessor | Predecessor | Predecessor | Subsequent Event [Member] | |||
Oci Holdings [Member] | Natural Resource Partners LP [Member] | OCI Wyoming Co [Member] | OCI Wyoming Co [Member] | |||||||
Corporate structure and ownership | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of general partner ownership interest held | ' | ' | 40.98% | ' | 39.37% | 40.98% | 50.49% | 48.51% | ' | ' |
Percentage of limited partner ownership interest held | ' | 10.02% | ' | 9.63% | ' | ' | ' | ' | 1.00% | 10.02% |
Payments to Noncontrolling Interests | $65.30 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
INITIAL_PUBLIC_OFFERING_Detail
INITIAL PUBLIC OFFERING (Details) (USD $) | 9 Months Ended | 0 Months Ended | 0 Months Ended | |||||||||||||
Sep. 30, 2013 | Sep. 18, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Oct. 28, 2013 | Oct. 28, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Oct. 28, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Oct. 28, 2013 | |
General partner | Oci Holdings [Member] | Oci Holdings [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Common Unitholders - Oci Holdings | Subordinated Unitholders - Oci Holdings | Common Unitholders - Public | Common Unitholders - Public | Partnership units | OCI Wyoming LP [Member] | OCI Wyoming LP [Member] | OCI Wyoming LP [Member] | OCI Wyoming LP [Member] | |||
Limited Partner [Member] | OCI Wyoming Co [Member] | Oci Holdings [Member] | Limited Partner [Member] | Common Unitholders - Public | OCI Wyoming Co [Member] | Subsequent Event [Member] | ||||||||||
OCI Wyoming Co [Member] | ||||||||||||||||
Capital Unit [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of limited partner ownership interest held | ' | ' | ' | ' | 72.90% | ' | ' | ' | ' | ' | 25.10% | ' | 10.02% | ' | ' | 10.02% |
Percentage of general partner ownership interest held | ' | ' | 2.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 40.98% | 40.98% | ' |
General Partners' Capital Account, Units Issued | 399,000 | ' | 399,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Partner Initial Contribution Refunded | ' | ' | ' | $1,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common and subordinated units issued | ' | ' | ' | ' | ' | ' | ' | 4,775,500 | 9,775,500 | 5,000,000 | ' | ' | ' | ' | ' | ' |
IPO, price per public common unit | ' | $19 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from issuance of common units, net of offering costs | 83,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 83,300,000 | ' | ' | ' | ' |
Initial Public Offering Underwriter Discount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,700,000 | ' | ' | ' | ' |
Payments of Stock Issuance Costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,000,000 | ' | ' | ' | ' |
Payments to Noncontrolling Interests | ' | ' | ' | ' | ' | 65,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments of Capital Distribution | ' | ' | ' | ' | ' | ' | $18,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
PRO_FORMA_FINANCIAL_INFORMATIO2
PRO FORMA FINANCIAL INFORMATION (Details) (USD $) | 0 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | ||||||||
In Millions, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||||||
Pro Forma [Member] | Pro Forma [Member] | Pro Forma [Member] | Pro Forma [Member] | ||||||||||
Pro Forma Financial Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||||||
Net income | $1.10 | $13.90 | $45.20 | $13.90 | $23.90 | $45.20 | $79.30 | ||||||
Add back: income taxes | ' | 2.1 | [1] | 7.1 | [1] | 2.1 | [1] | 3.8 | [1] | 7.1 | [1] | 12.7 | [1] |
Pro Forma Net Income | ' | 16 | 52.3 | 16 | 27.7 | 52.3 | 92 | ||||||
Pro Forma Net income attributable to noncontrolling interest | ' | 9.5 | 31.4 | 8 | 13.7 | 26.1 | 45.6 | ||||||
Pro Forma Net income attributable to OCI Resources LP | ' | $4.40 | $13.80 | $8 | $14 | $26.20 | $46.40 | ||||||
Pro Forma Net income per unit (basic and diluted) | ' | ' | ' | $0.40 | ' | $1.31 | ' | ||||||
[1] | Reflects the elimination of income taxes incurred by the Predecessor. OCIB Resources is a partnership for income tax purposes and is not expected to incur income tax as a publicly traded partnership. |
PRO_FORMA_FINANCIAL_INFORMATIO3
PRO FORMA FINANCIAL INFORMATION - Narrative (Details) (OCI Wyoming LP [Member]) | 0 Months Ended | |
Oct. 28, 2013 | Sep. 30, 2013 | |
Capital Unit [Line Items] | ' | ' |
Percentage of general partner ownership interest held | ' | 40.98% |
Percentage of limited partner ownership interest held | 10.02% | ' |
Natural Resource Partners LP [Member] | ' | ' |
Capital Unit [Line Items] | ' | ' |
Percentage of general partner ownership interest held | ' | 39.37% |
Percentage of limited partner ownership interest held | 9.63% | ' |
NET_INCOME_PER_UNIT_AND_CASH_D2
NET INCOME PER UNIT AND CASH DISTRIBUTION - Calculation of net income per unit (Details) (USD $) | 3 Months Ended | 9 Months Ended |
In Millions, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2013 |
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ' | ' |
Net income attributable to OCI Resources LP subsequent to initial public offering | $0.50 | $0.50 |
Less: General partner's interest in net income subsequent to initial public offering | 0 | 0 |
Limited partners' interest in net income subsequent to initial public offering | $0.50 | $0.50 |
Common unit | ' | ' |
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ' | ' |
Net income per common and subordinated unit (basic and diluted) (dollars per share) | $0.03 | $0.03 |
Weighted average common and subordinated units outstanding (basic and diluted) (shares) | 9.8 | 9.8 |
Common Unitholders - Oci Holdings | ' | ' |
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ' | ' |
Weighted average common and subordinated units outstanding (basic and diluted) (shares) | 4.8 | 4.8 |
Common Unitholders - Public | ' | ' |
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ' | ' |
Weighted average common and subordinated units outstanding (basic and diluted) (shares) | 5 | 5 |
Subordinated Unitholders - Oci Holdings | ' | ' |
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ' | ' |
Net income per common and subordinated unit (basic and diluted) (dollars per share) | $0.03 | $0.03 |
Weighted average common and subordinated units outstanding (basic and diluted) (shares) | 9.8 | 9.8 |
NET_INCOME_PER_UNIT_AND_CASH_D3
NET INCOME PER UNIT AND CASH DISTRIBUTION - Percentage allocation of distributions (Details) (USD $) | 0 Months Ended | 9 Months Ended |
Sep. 30, 2013 | Sep. 30, 2013 | |
Schedule of Percentage Allocation of Distributions From Operating Surplus [Line Items] | ' | ' |
Annualized Minimum Distribution | ' | 2 |
Minimum Quarterly Distribution | ' | 0.5 |
General partner | ' | ' |
Schedule of Percentage Allocation of Distributions From Operating Surplus [Line Items] | ' | ' |
Percentage of general partner ownership interest held | 2.00% | ' |
Percentage Allocation of Operating Surplus During Subordination Period | ' | 2.00% |
Up to minimum quarterly distribution | Common unit | ' | ' |
Schedule of Percentage Allocation of Distributions From Operating Surplus [Line Items] | ' | ' |
Percentage Allocation of Operating Surplus During Subordination Period | ' | 98.00% |
Up to minimum quarterly distribution | General partner | ' | ' |
Schedule of Percentage Allocation of Distributions From Operating Surplus [Line Items] | ' | ' |
Percentage Allocation of Operating Surplus During Subordination Period | ' | 2.00% |
Up to arrearages on prior quarter minimum distributions | Common unit | ' | ' |
Schedule of Percentage Allocation of Distributions From Operating Surplus [Line Items] | ' | ' |
Percentage Allocation of Operating Surplus During Subordination Period | ' | 98.00% |
Up to arrearages on prior quarter minimum distributions | General partner | ' | ' |
Schedule of Percentage Allocation of Distributions From Operating Surplus [Line Items] | ' | ' |
Percentage Allocation of Operating Surplus During Subordination Period | ' | 2.00% |
Up to minimum distribution for subordinated units | Subordinated unit | ' | ' |
Schedule of Percentage Allocation of Distributions From Operating Surplus [Line Items] | ' | ' |
Percentage Allocation of Operating Surplus During Subordination Period | ' | 98.00% |
Up to minimum distribution for subordinated units | General partner | ' | ' |
Schedule of Percentage Allocation of Distributions From Operating Surplus [Line Items] | ' | ' |
Percentage Allocation of Operating Surplus During Subordination Period | ' | 2.00% |
NET_INCOME_PER_UNIT_AND_CASH_D4
NET INCOME PER UNIT AND CASH DISTRIBUTION - Target distributions and marginal percentage interests (Details) (USD $) | 9 Months Ended |
Sep. 30, 2013 | |
Schedule of Percentage Allocation of Distributions From Operating Surplus [Line Items] | ' |
Minimum Quarterly Distribution | $0.50 |
Minimum Quarterly Distribution | ' |
Schedule of Percentage Allocation of Distributions From Operating Surplus [Line Items] | ' |
Minimum Quarterly Distribution | $0.50 |
First Target Distribution | Minimum | ' |
Schedule of Percentage Allocation of Distributions From Operating Surplus [Line Items] | ' |
Minimum Quarterly Distribution | $0.50 |
First Target Distribution | Maximum | ' |
Schedule of Percentage Allocation of Distributions From Operating Surplus [Line Items] | ' |
Minimum Quarterly Distribution | $0.57 |
Second Target Distribution | Minimum | ' |
Schedule of Percentage Allocation of Distributions From Operating Surplus [Line Items] | ' |
Minimum Quarterly Distribution | $0.57 |
Second Target Distribution | Maximum | ' |
Schedule of Percentage Allocation of Distributions From Operating Surplus [Line Items] | ' |
Minimum Quarterly Distribution | $0.63 |
Third Target Distribution | Minimum | ' |
Schedule of Percentage Allocation of Distributions From Operating Surplus [Line Items] | ' |
Minimum Quarterly Distribution | $0.63 |
Third Target Distribution | Maximum | ' |
Schedule of Percentage Allocation of Distributions From Operating Surplus [Line Items] | ' |
Minimum Quarterly Distribution | $0.75 |
Thereafter | Minimum | ' |
Schedule of Percentage Allocation of Distributions From Operating Surplus [Line Items] | ' |
Minimum Quarterly Distribution | $0.75 |
General partner | Minimum Quarterly Distribution | ' |
Schedule of Percentage Allocation of Distributions From Operating Surplus [Line Items] | ' |
Marginal Interest in Distribution, Percentage | 2.00% |
General partner | First Target Distribution | ' |
Schedule of Percentage Allocation of Distributions From Operating Surplus [Line Items] | ' |
Marginal Interest in Distribution, Percentage | 2.00% |
General partner | Second Target Distribution | ' |
Schedule of Percentage Allocation of Distributions From Operating Surplus [Line Items] | ' |
Increasing Percentage Allocation of Operating Surplus General Partner Incentive | 13.00% |
Marginal Interest in Distribution, Percentage | 15.00% |
General partner | Third Target Distribution | ' |
Schedule of Percentage Allocation of Distributions From Operating Surplus [Line Items] | ' |
Increasing Percentage Allocation of Operating Surplus General Partner Incentive | 23.00% |
Marginal Interest in Distribution, Percentage | 25.00% |
General partner | Thereafter | ' |
Schedule of Percentage Allocation of Distributions From Operating Surplus [Line Items] | ' |
Increasing Percentage Allocation of Operating Surplus General Partner Incentive | 48.00% |
Marginal Interest in Distribution, Percentage | 50.00% |
Unitholders | Minimum Quarterly Distribution | ' |
Schedule of Percentage Allocation of Distributions From Operating Surplus [Line Items] | ' |
Marginal Interest in Distribution, Percentage | 98.00% |
Unitholders | First Target Distribution | ' |
Schedule of Percentage Allocation of Distributions From Operating Surplus [Line Items] | ' |
Marginal Interest in Distribution, Percentage | 98.00% |
Unitholders | Second Target Distribution | ' |
Schedule of Percentage Allocation of Distributions From Operating Surplus [Line Items] | ' |
Marginal Interest in Distribution, Percentage | 85.00% |
Unitholders | Third Target Distribution | ' |
Schedule of Percentage Allocation of Distributions From Operating Surplus [Line Items] | ' |
Marginal Interest in Distribution, Percentage | 75.00% |
Unitholders | Thereafter | ' |
Schedule of Percentage Allocation of Distributions From Operating Surplus [Line Items] | ' |
Marginal Interest in Distribution, Percentage | 50.00% |
INVENTORY_Details
INVENTORY (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | Predecessor | |
Inventory [Line Items] | ' | ' |
Raw materials | $7.30 | $5.30 |
Finished goods | 12.1 | 13.5 |
Stores inventory | 25.3 | 23.3 |
Total | $44.70 | $42.10 |
DEBT_Components_of_longterm_de
DEBT - Components of long-term debt (Details) (USD $) | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 |
Variable Rate Demand Revenue Bonds | Variable Rate Demand Revenue Bonds | Note payable to Comerica Bank | OCI Wyoming credit facility | OCI Wyoming credit facility | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | ||
Principal due October 1, 2018 | Principal due August 1, 2017 | Standby letters of credit | Standby letters of credit | Variable Rate Demand Revenue Bonds | Variable Rate Demand Revenue Bonds | Note payable to Comerica Bank | ||||||
OCIWLP | OCIWLP | Principal due October 1, 2018 | Principal due August 1, 2017 | |||||||||
Debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gross long-term debt | $155,000,000 | $11,400,000 | $8,600,000 | $0 | $135,000,000 | $0 | $52,000,000 | ' | ' | $11,400,000 | $8,600,000 | $32,000,000 |
Current portion of long-term debt | 0 | ' | ' | ' | ' | ' | -4,000,000 | ' | ' | ' | ' | ' |
Total long-term debt | 155,000,000 | ' | ' | ' | ' | ' | 48,000,000 | ' | ' | ' | ' | ' |
Interest rate (as a percent) | ' | 0.16% | 0.16% | 0.00% | ' | ' | ' | ' | ' | 0.28% | 0.28% | 1.86% |
Quarterly principal installments | ' | ' | ' | 1,000 | ' | ' | ' | ' | ' | ' | ' | 1,000 |
Revolving credit facility | ' | ' | ' | ' | ' | ' | ' | $20,300,000 | $20,300,000 | ' | ' | ' |
DEBT_Maturities_of_longterm_de
DEBT - Maturities of long-term debt (Details) (USD $) | Sep. 30, 2013 |
In Millions, unless otherwise specified | |
Debt Disclosure [Abstract] | ' |
2014 | $0 |
2015 | 0 |
2016 | 0 |
2017 | 8.6 |
2018 | 146.4 |
Gross long-term debt | $155 |
DEBT_Narrative_Details
DEBT - Narrative (Details) (USD $) | 9 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | |||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2013 | Jul. 18, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Jul. 18, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 |
Bank of America, NA | Bank of America, NA | Same Day Swing Line Advances | Letters of Credit | Minimum | Maximum | OCI Wyoming Co [Member] | OCI Wyoming Co [Member] | OCI Wyoming Co [Member] | OCI Wyoming Co [Member] | OCI Wyoming Co [Member] | OCI Wyoming Co [Member] | OCI Wyoming Co [Member] | OCI Wyoming Co [Member] | OCI Wyoming Co [Member] | OCI Wyoming Co [Member] | ||
Revolving credit facility | Revolving credit facility | Bank of America, NA | Bank of America, NA | Bank of America, NA | Bank of America, NA | Bank of America, NA | Bank of America, NA | Refinance Existing Facility | Funding of Special Distribution to OCI Wyoming Co | Aggregate Special Distribution | Debt Issuance Costs | Same Day Swing Line Advances | Letters of Credit | Minimum | Maximum | ||
Revolving credit facility | Revolving credit facility | Revolving credit facility | Revolving credit facility | Revolving credit facility | Revolving credit facility | Revolving credit facility | Revolving credit facility | Revolving credit facility | Revolving credit facility | Bank of America, NA | Bank of America, NA | Bank of America, NA | Bank of America, NA | ||||
Revolving credit facility | Revolving credit facility | Revolving credit facility | Revolving credit facility | ||||||||||||||
Line of Credit Facility [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Maximum Borrowing Capacity | ' | ' | $10 | ' | ' | ' | ' | ' | $190 | ' | ' | ' | ' | ' | ' | ' | ' |
Revolving credit facility | ' | 0 | ' | ' | ' | ' | ' | 135 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility Use of Proceeds | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30 | 11.5 | 91.5 | 1.3 | ' | ' | ' | ' |
Line of Credit Facility Additional Borrowing Capacity | ' | ' | ' | ' | ' | ' | ' | 75 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Capacity Available for Specific Purpose Other than for Trade Purchases | ' | ' | ' | $5 | $5 | ' | ' | ' | ' | ' | ' | ' | ' | $20 | $40 | ' | ' |
Consolidated Leverage Ratio | ' | ' | ' | ' | ' | ' | ' | 300.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated Fixed Charge Coverage Ratio | ' | 100.00% | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss of Control Percentage Threshold | 50.10% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Basis Spread on Variable Rate | ' | ' | ' | ' | ' | 0.50% | 1.00% | ' | ' | ' | ' | ' | ' | ' | ' | 0.50% | 1.00% |
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | ' | ' | ' | ' | ' | 0.28% | 0.35% | ' | ' | ' | ' | ' | ' | ' | ' | 0.28% | 0.35% |
RECLAMATION_RESERVE_Details
RECLAMATION RESERVE (Details) (USD $) | 9 Months Ended | 12 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 |
Predecessor | ||
Reclamation reserve | ' | ' |
Balance at beginning of period | $3.60 | $3.50 |
Accretion | 0.1 | 0.1 |
Balance at end of period | $3.70 | $3.60 |
COMMITMENTS_AND_CONTINGENCIES_
COMMITMENTS AND CONTINGENCIES (Details) (Self-bond agreement for reclamation costs, USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | Predecessor | |
Other Commitments [Line Items] | ' | ' |
Off balance sheet commitment | $27.10 | $21.30 |
RELATEDPARTY_TRANSACTIONS_Net_
RELATED-PARTY TRANSACTIONS - Net sales to affiliates (Details) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 |
ANSAC | ANSAC | OCI Alabama LLC | OCI Alabama LLC | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | |||
ANSAC | ANSAC | OCI Alabama LLC | OCI Alabama LLC | |||||||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales to affiliates | $47.60 | $150 | $45.90 | $144.30 | $1.70 | $5.70 | $57.70 | $178 | $55.90 | $172.10 | $1.80 | $5.90 |
RELATEDPARTY_TRANSACTIONS_Cost
RELATED-PARTY TRANSACTIONS - Costs charged by affiliates (Details) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Jun. 30, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Sep. 30, 2012 | Jun. 30, 2012 |
Selling and marketing expense | Selling and marketing expense | General and administrative expense | General and administrative expense | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | |||
Selling and marketing expense | Selling and marketing expense | General and administrative expense | General and administrative expense | |||||||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total costs charged | $3.10 | $9.70 | $1.20 | $4 | $1.90 | $5.70 | $2.70 | $8.20 | $1.10 | $3.30 | $1.60 | $4.90 |
RELATEDPARTY_TRANSACTIONS_Rece
RELATED-PARTY TRANSACTIONS - Receivables from or payables to affiliates (Details) (USD $) | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 |
In Millions, unless otherwise specified | OCI Enterprises Inc [Member] | OCI Chemical Corporation [Member] | OCI Europe [Member] | OCI Wyoming Co [Member] | Oci Holdings [Member] | Other Related Parties [Member] | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | |
Rock Springs Royalty Corporation [Member] | OCI Enterprises Inc [Member] | OCI Chemical Corporation [Member] | OCI Europe [Member] | OCI Wyoming Co [Member] | Oci Holdings [Member] | Other Related Parties [Member] | |||||||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accounts payable | $9.30 | ' | ' | ' | ' | ' | ' | $13.10 | $1.90 | ' | ' | ' | ' | ' | ' |
Receivables from affiliates | 20.1 | 0.1 | 11.9 | 8 | 0 | 0 | 0.1 | 26.6 | ' | 0.7 | 24.4 | 0 | 0 | 0 | 1.5 |
Payables to affiliates | $89.50 | $4.70 | $1.50 | $0 | $65.30 | $18 | $0 | $22.30 | ' | $18.30 | $2.50 | $0 | $0 | $0 | $1.50 |
MAJOR_CUSTOMERS_AND_SEGMENT_RE2
MAJOR CUSTOMERS AND SEGMENT REPORTING - Sales by geographic area (Details) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 6 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | ||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Jun. 30, 2013 | Jun. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
ANSAC | ANSAC | Domestic | Domestic | Domestic | Domestic | International | International | International | International | International | International | International | International | International | International | International | International | |||||
Other | Other | Other | Other | ANSAC | ANSAC | ANSAC | ANSAC | |||||||||||||||
Sales by geographical area | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales | $105.60 | $112 | $324.60 | $347.20 | ' | ' | $47.30 | $50.40 | $147.40 | $150.20 | $58.30 | $61.60 | $177.20 | $197 | $12.40 | $5.70 | $32.90 | $24.90 | ' | ' | ' | ' |
Sales to affiliates | $47.60 | ' | $150 | ' | $45.90 | $144.30 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $45.90 | $55.90 | $144.30 | $172.10 |
MAJOR_CUSTOMERS_AND_SEGMENT_RE3
MAJOR CUSTOMERS AND SEGMENT REPORTING - Narrative (Details) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Significant customers | ' | ' | ' | ' |
Number of operating segments | ' | ' | 1 | ' |
Number of significant customers other than ANSAC | ' | ' | 1 | 1 |
Net sales | Customer | ' | ' | ' | ' |
Significant customers | ' | ' | ' | ' |
Percentage of concentration risk | 5.90% | 11.50% | 6.30% | 11.40% |
FAIR_VALUE_MEASUREMENTS_Detail
FAIR VALUE MEASUREMENTS (Details) (Fair Value, Measurements, Recurring, Level 2, Interest rate swap, USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative aggregate notional value | $24.50 | ' |
Predecessor | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative aggregate notional value | ' | 26 |
Derivative fair value | $0.40 | $0.60 |
SUBSEQUENT_EVENTS_Details
SUBSEQUENT EVENTS (Details) (USD $) | 0 Months Ended | |||||
In Millions, unless otherwise specified | Oct. 02, 2013 | Oct. 02, 2013 | Oct. 28, 2013 | Oct. 28, 2013 | Oct. 28, 2013 | Oct. 28, 2013 |
Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | OCI Wyoming LP [Member] | OCI Wyoming LP [Member] | |
Initial [Member] | Reduced [Member] | OCI Wyoming Co [Member] | Oci Holdings [Member] | Subsequent Event [Member] | ||
OCI Wyoming Co [Member] | ||||||
Subsequent Event [Line Items] | ' | ' | ' | ' | ' | ' |
Trona Mining Federal Royalty Rate | 6.00% | 4.00% | ' | ' | ' | ' |
Trona Royalty Rate Reduction Period | ' | '2 years | ' | ' | ' | ' |
Payments to Noncontrolling Interests | ' | ' | $65.30 | ' | ' | ' |
Percentage of limited partner ownership interest held | ' | ' | ' | ' | 10.02% | 10.02% |
Payments of Capital Distribution | ' | ' | ' | $18 | ' | ' |