Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2021 | Mar. 23, 2022 | Jun. 30, 2021 | |
Document Information [Line Items] | |||
Entity Central Index Key | 0000788965 | ||
Entity Registrant Name | HALLADOR ENERGY CO | ||
Amendment Flag | false | ||
Current Fiscal Year End Date | --12-31 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2021 | ||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Dec. 31, 2021 | ||
Document Transition Report | false | ||
Entity File Number | 001-3473 | ||
Entity Incorporation, State or Country Code | CO | ||
Entity Tax Identification Number | 84-1014610 | ||
Entity Address, Address Line One | 1183 East Canvasback Drive | ||
Entity Address, City or Town | Terre Haute | ||
Entity Address, State or Province | IN | ||
Entity Address, Postal Zip Code | 47802 | ||
City Area Code | 812 | ||
Local Phone Number | 299.2800 | ||
Title of 12(b) Security | Common Stock, $0.01 par value per share | ||
Trading Symbol | HNRG | ||
Security Exchange Name | NASDAQ | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | false | ||
ICFR Auditor Attestation Flag | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 57,303,733 | ||
Entity Common Stock, Shares Outstanding | 30,785,067 | ||
Auditor Name | Plante & Moran, PLLC | ||
Auditor Location | Denver, Colorado | ||
Auditor Firm ID | 166 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Current assets: | ||
Cash and cash equivalents | $ 2,546 | $ 8,041 |
Restricted cash | 3,283 | 4,030 |
Accounts receivable | 13,584 | 14,414 |
Inventory | 7,699 | 24,663 |
Parts and supplies | 10,015 | 8,903 |
Prepaid expenses | 2,112 | 3,282 |
Total current assets | 39,239 | 63,333 |
Property, plant and equipment: | ||
Land and mineral rights | 115,837 | 115,853 |
Buildings and equipment | 342,782 | 352,115 |
Mine development | 112,575 | 93,635 |
Total property, plant and equipment | 571,194 | 561,603 |
Less - accumulated depreciation, depletion and amortization | (268,370) | (252,245) |
Total property, plant and equipment, net | 302,824 | 309,358 |
Investment in Sunrise Energy | 3,545 | 3,181 |
Other assets | 8,372 | 8,258 |
Total assets | 353,980 | 384,130 |
Current liabilities: | ||
Current portion of bank debt, net | 23,098 | 34,311 |
Current portion of PPP note | 0 | 5,490 |
Accounts payable and accrued liabilities | 41,528 | 31,409 |
Total current liabilities | 64,626 | 71,210 |
Long-term liabilities: | ||
Bank debt, net | 84,667 | 97,307 |
PPP note | 0 | 4,510 |
Deferred income taxes | 2,850 | 2,824 |
Asset retirement obligations | 14,025 | 16,177 |
Other | 1,577 | 2,842 |
Total long-term liabilities | 103,119 | 123,660 |
Total liabilities | 167,745 | 194,870 |
Redeemable noncontrolling interests | 4,000 | 4,000 |
Stockholders' equity: | ||
Preferred stock, $.10 par value, 10,000 shares authorized; none issued | 0 | 0 |
Common stock, $.01 par value, 100,000 shares authorized; 30,785 and 30,610 issued and outstanding, respectively | 308 | 306 |
Additional paid-in capital | 104,126 | 103,399 |
Retained earnings | 77,801 | 81,555 |
Total stockholders’ equity | 182,235 | 185,260 |
Total liabilities, redeemable noncontrolling interests, and stockholders’ equity | $ 353,980 | $ 384,130 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares shares in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Preferred stock, par value (in dollars per share) | $ 0.10 | $ 0.10 |
Preferred stock, shares authorized (in shares) | 10,000 | 10,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 100,000 | 100,000 |
Common stock, shares issued (in shares) | 30,785 | 30,610 |
Common stock, shares outstanding (in shares) | 30,785 | 30,610 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | ||
SALES AND OPERATING REVENUES: | |||
Coal sales | $ 243,903 | $ 242,084 | |
Other revenues | 3,763 | 2,157 | |
Total revenue | 247,666 | 244,241 | |
EXPENSES: | |||
Operating expenses | 198,840 | 185,957 | |
Depreciation, depletion and amortization | 39,973 | 39,644 | |
Asset impairment | 1,588 | 1,799 | |
Asset retirement obligations accretion | 1,504 | 1,381 | |
Asset retirement obligations change in estimate | (3,510) | 0 | |
Exploration costs | 482 | 768 | |
General and administrative | 14,833 | 11,594 | |
Total operating expenses | 253,710 | 241,143 | |
INCOME (LOSS) FROM OPERATIONS | (6,044) | 3,098 | |
Interest expense | [1] | (8,048) | (13,030) |
Gain on extinguishment of debt | 10,000 | 0 | |
Equity method investment income | 364 | 1,054 | |
LOSS BEFORE INCOME TAXES | (3,728) | (8,878) | |
Current | 0 | (598) | |
Deferred | 26 | (2,060) | |
Total income tax expense (benefit) | 26 | (2,658) | |
NET LOSS | $ (3,754) | $ (6,220) | |
NET LOSS PER SHARE: | |||
Basic and diluted (in dollars per share) | $ (0.12) | $ (0.20) | |
WEIGHTED AVERAGE SHARES OUTSTANDING: | |||
Basic and diluted (in shares) | 30,614 | 30,446 | |
(1) Bank interest | $ 8,510 | $ 10,653 | |
Non-cash interest: | |||
Change in interest rate swap valuation | (3,026) | 68 | |
Amortization of debt issuance costs | 2,564 | 2,296 | |
Other | 0 | 13 | |
Total non-cash interest | (462) | 2,377 | |
Total interest | [1] | $ 8,048 | $ 13,030 |
[1] | Interest Expense |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
OPERATING ACTIVITIES: | ||
Net loss | $ (3,754) | $ (6,220) |
Deferred income taxes | 26 | (2,060) |
Equity income – Sunrise Energy | (364) | (1,054) |
Cash distribution - Sunrise Energy | 0 | 1,125 |
Depreciation, depletion and amortization | 39,973 | 39,644 |
Asset impairment | 1,588 | 1,799 |
Gain on extinguishment of debt | (10,000) | 0 |
Loss on sale of assets | 317 | 38 |
Unrealized gain on marketable securities | 0 | (14) |
Amortization of debt issuance costs | 2,564 | 2,296 |
Asset retirement obligations accretion | 1,504 | 1,381 |
Asset retirement obligations change in estimate | (3,510) | 0 |
Stock-based compensation | 1,004 | 1,211 |
Change in current assets and liabilities: | ||
Accounts receivable | 830 | 11,166 |
Inventory | 16,964 | 2,893 |
Parts and supplies | (1,112) | 2,872 |
Prepaid income taxes | 0 | 1,562 |
Prepaid expenses | (5,215) | 0 |
Accounts payable and accrued liabilities | 10,844 | (1,405) |
Other | (362) | (3,048) |
Cash provided by operating activities | 47,974 | 52,576 |
INVESTING ACTIVITIES: | ||
Capital expenditures | (28,050) | (20,688) |
Proceeds from sale of equipment | 525 | 56 |
Proceeds from sale of marketable securities | 0 | 2,310 |
Proceeds from maturities of certificates of deposit | 0 | 245 |
Investment in Sunrise Energy | 0 | (113) |
Cash used in investing activities | (27,525) | (18,190) |
FINANCING ACTIVITIES: | ||
Payments on bank debt | (46,249) | (49,662) |
Borrowings of bank debt | (20,250) | (7,250) |
Proceeds from PPP note | 0 | 10,000 |
Debt issuance costs | (418) | (1,903) |
Taxes paid on vesting of RSUs | (274) | (75) |
Dividends | 0 | (1,236) |
Cash used in financing activities | (26,691) | (35,626) |
Decrease in cash, cash equivalents, and restricted cash | (6,242) | (1,240) |
Cash, cash equivalents, and restricted cash, beginning of year | 12,071 | 13,311 |
Cash, cash equivalents, and restricted cash, end of year | 5,829 | 12,071 |
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH: | ||
Cash and cash equivalents | 2,546 | 8,041 |
Restricted cash | 3,283 | 4,030 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Ending Balance | 5,829 | 12,071 |
SUPPLEMENTAL CASH FLOW INFORMATION: | ||
Cash paid for interest | 8,720 | 10,971 |
SUPPLEMENTAL NON-CASH FLOW INFORMATION: | ||
Change in capital expenditures included in accounts payable and prepaid expenses | 8,520 | 1,199 |
Interest Rate Swap [Member] | ||
OPERATING ACTIVITIES: | ||
Change in fair value of derivative | (3,026) | 68 |
Fuel Hedge [Member] | ||
OPERATING ACTIVITIES: | ||
Change in fair value of derivative | $ (297) | $ 322 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Dec. 31, 2019 | 30,420 | |||
Balance at Dec. 31, 2019 | $ 304 | $ 102,215 | $ 89,011 | $ 191,530 |
Stock-based compensation | 1,211 | 1,211 | ||
Stock issued on vesting of RSUs (in shares) | 193 | |||
Stock issued on vesting of RSUs | $ 1 | (1) | 0 | 0 |
Taxes paid on vesting of RSUs (in shares) | (80) | |||
Taxes paid on vesting of RSUs | (75) | (75) | ||
Dividends | $ 0 | 0 | (1,236) | (1,236) |
Net loss | $ 0 | 0 | (6,220) | (6,220) |
Other (in shares) | 77 | |||
Other | $ 1 | 49 | 0 | 50 |
Balance (in shares) at Dec. 31, 2020 | 30,610 | |||
Balance at Dec. 31, 2020 | $ 306 | 103,399 | 81,555 | 185,260 |
Stock-based compensation | 1,004 | 1,004 | ||
Stock issued on vesting of RSUs (in shares) | 296 | |||
Stock issued on vesting of RSUs | $ 3 | (3) | 0 | 0 |
Taxes paid on vesting of RSUs (in shares) | (121) | |||
Taxes paid on vesting of RSUs | $ (1) | (274) | 0 | (275) |
Net loss | $ 0 | 0 | (3,754) | (3,754) |
Balance (in shares) at Dec. 31, 2021 | 30,785 | |||
Balance at Dec. 31, 2021 | $ 308 | $ 104,126 | $ 77,801 | $ 182,235 |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | ( 1 Basis of Presentation and Consolidation The consolidated financial statements include the accounts of Hallador Energy Company (hereinafter known as, “we, us, or our”) and its wholly owned subsidiaries Sunrise Coal, LLC (Sunrise) and Hourglass Sands, LLC (Hourglass), and Sunrise’s wholly owned subsidiaries. All significant intercompany accounts and transactions have been eliminated. Sunrise is engaged in the production of steam coal from mines located in western Indiana. Going Concern - Alleviation of Substantial Doubt In accordance with ASU 2014 15, Presentation of Financial Statements- Going Concern 205 40 one We performed the analysis, and our overall assessment was there were conditions or events, considered in the aggregate as of December 31, 2021, The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. During our analysis and overall assessment, it became clear that we were likely to violate one March 31, 2022 In March 2022, 5, Accordingly, the above factors have alleviated substantial doubt about the entity’s ability to continue as a going concern. Segment Information The Company’s significant operating segment includes the two Allowance for Doubtful Accounts The Company evaluates the need for an allowance for uncollectible receivables based on a review of account balances that are likely to be uncollectible, as determined by such variables as customer creditworthiness, the age of the receivables and disputed amounts. Historically, credit losses have been insignificant. At December 31, 2021 2020 no Inventory Inventory and parts and supplies are valued at the lower of average cost or net realizable value determined using the first first Prepaid expenses Prepaid expenses include prepaid insurance, prepaid maintenance expense, and a prepaid balance with our primary parts and supplies vendor. Advanced Royalties Coal leases that require minimum annual or advance payments and are recoverable from future production are generally deferred and charged to expense as the coal is subsequently produced. Advance royalties are included in other assets. Mining Properties Mining properties are recorded at cost. Interest costs applicable to major asset additions are capitalized during the construction period. Expenditures that extend the useful lives or increase the productivity of the assets are capitalized. The cost of maintenance and repairs that do not three twenty-five If facts and circumstances suggest that a long-lived asset may not 2 Mine Development Costs of developing new mines, including asset retirement obligation assets, or significantly expanding the capacity of existing mines, are capitalized and amortized using the units-of-production method over estimated recoverable reserves. Asset Retirement Obligations (ARO) – Reclamation At the time they are incurred, legal obligations associated with the retirement of long-lived assets are reflected at their estimated fair value, with a corresponding charge to mine development. Obligations are typically incurred when we commence development of underground and surface mines and include reclamation of support facilities, refuse areas and slurry ponds. Obligations are reflected at the present value of their future cash flows. We reflect accretion of the obligations for the period from the date they are incurred through the date they are extinguished. The ARO assets are amortized using the units-of-production method over estimated recoverable (proven and probable) reserves. We are using credit-adjusted risk-free discount rates ranging from 5.0% to 10% to discount the obligation, inflation rates anticipated during the time to reclamation, and cost estimates prepared by our engineers inclusive of market risk premiums. Federal and state laws require that mines be reclaimed in accordance with specific standards and approved reclamation plans, as outlined in mining permits. Activities include reclamation of pit and support acreage at surface mines, sealing portals at underground mines, and reclamation of refuse areas and slurry ponds. We review our ARO at least annually and reflect revisions for permit changes, changes in our estimated reclamation costs and changes in the estimated timing of such costs. The change in estimate was a result of a change in timing of expected reclamation of the Ace in the Hole Mine, Carlisle Mine, and Prosperity Mine and updates to inflation rates from when the liabilities were first not The table below (in thousands) reflects the changes to our ARO: Year Ended December 31, 2021 2020 Balance, beginning of year $ 16,277 $ 15,764 Accretion 1,504 1,381 Change in estimate (3,510 ) — Payments (146 ) (868 ) Balance, end of year 14,125 16,277 Less current portion (100 ) (100 ) Long-term balance, end of year $ 14,025 $ 16,177 Interest Rate Swaps The Company generally utilizes derivative instruments to manage exposures to interest rate risk on long-term debt. The Company enters into interest rate swaps in order to achieve a mix of fixed and variable rate debt that it deems appropriate. These interest rate swaps have not Statement of Cash Flows Cash equivalents include investments with maturities when purchased of three Income Taxes Income taxes are provided based on the liability method of accounting. The provision for income taxes is based on pretax financial income. Deferred tax assets and liabilities are recognized for the future expected tax consequences of temporary differences between income tax and financial reporting and principally relate to differences in the tax basis of assets and liabilities and their reported amounts, using enacted tax rates in effect for the year in which differences are expected to reverse. Net Income (Loss) per Share Basic net income (loss) per share is computed on the basis of the weighted average number of shares of common stock outstanding during the period using the two two Use of Estimates in the Preparation of Financial Statements The preparation of financial statements in conformity with generally accepted accounting principles requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual amounts could differ from those estimates. The most significant estimates included in the preparation of the financial statements relate to: (i) deferred income tax accounts, (ii) coal reserves, (iii) depreciation, depletion, and amortization, (iv) estimates relating to interest rate swaps, (v) estimates used in our impairment analysis and measurement of impairments, and (vi) estimates used in the calculation of our asset retirement obligations. Long-term Contracts As of December 31, 2021 For 2021 five 10% five 10% December 31, 2021 For 2020 four 10% four 10% December 31, 2020 Stock-based Compensation Stock-based compensation for restricted stock units is measured at the grant date based on the fair value of the award and is recognized as expense over the applicable vesting period of the stock award (generally two four |
Note 2 - Long-lived Asset Impai
Note 2 - Long-lived Asset Impairments | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Asset Impairment Charges [Text Block] | ( 2 Long-lived assets are reviewed for impairment whenever events or changes in circumstance indicate that the carrying amount of the assets may not 19 December 31, 2021 2020, no 19 Prosperity Mine We recorded an impairment of $1.6 million as of December 31, 2021 fourth 2021. 2022. Hourglass Sands We recorded an impairment of $2.9 million as of December 31, 2019, December 31, 2019. August 2020, third 2020, |
Note 3 - Inventory
Note 3 - Inventory | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | ( 3 Inventory is valued at lower of average cost or net realizable value (NRV). As of December 31, 2021 December 31, 2020 |
Note 4 - Other Long-term Assets
Note 4 - Other Long-term Assets | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Other Assets Disclosure [Text Block] | ( 4 December 31, 2021 2020 Advanced coal royalties $ 6,678 $ 6,449 Other 1,694 1,809 Total other assets $ 8,372 $ 8,258 |
Note 5 - Bank Debt
Note 5 - Bank Debt | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | ( 5 On April 15, 2020, 2020 2.0X. On March 25, 2022, December 31, 2021 September 30, 2022, March 31, 2022. During 2021, December 31, 2021, December 31, 2021) December 31, 2021). March 2023. September 2023. Liquidity As of December 31, 2021, December 31, 2021 Fees Unamortized bank fees and other costs incurred in connection with the initial facility and subsequent amendments totaled $7.9 million as of our amendment in April 2020. April 15, 2020 May 2021, December 31, 2021 2020 Bank debt, less debt issuance costs, is presented below (in thousands): December 31, 2021 2020 Current bank debt $ 25,725 $ 36,750 Less unamortized debt issuance cost (2,627 ) (2,439 ) Net current portion $ 23,098 $ 34,311 Long-term bank debt $ 86,013 $ 100,988 Less unamortized debt issuance cost (1,346 ) (3,681 ) Net long-term portion $ 84,667 $ 97,307 Total bank debt $ 111,738 $ 137,738 Less total unamortized debt issuance cost (3,973 ) (6,120 ) Net bank debt $ 107,765 $ 131,618 Covenants The credit facility includes a Maximum Leverage Ratio (consolidated funded debt / trailing twelve twelve not Fiscal Periods Ending Ratio December 31, 2021 3.00 to 1.00 March 31, 2022, and each fiscal quarter thereafter 2.50 to 1.00 As of December 31, 2021 The credit facility also requires a Minimum Debt Service Coverage Ratio (consolidated adjusted EBITDA / annual debt service) calculated as of the end of each fiscal quarter for the trailing twelve 1.00 December 31, 2021, 1.00 As of December 31, 2021 Interest Rate The interest rate on the facility ranges from LIBOR plus 2.75% to LIBOR plus 4.00%, depending on our Leverage Ratio, with a LIBOR floor of 0.50%. We entered into swap agreements to fix the LIBOR component of the interest rate at 2.92% on the declining term loan balance and on $52.7 million of the revolver. At December 31, 2021 Future Maturities (in thousands): 2022 25,725 2023 86,013 Total $ 111,738 Paycheck Protection Program As previously reported in the Current Report on Form 8 April 16, 2020, April 15, 2020, Under the terms of the CARES Act, PPP loan recipients can apply for forgiveness. The SBA can grant forgiveness of all, or a portion of, loans made under the PPP if the recipients use the PPP loan proceeds for eligible purposes, including payroll costs, mortgage interest, rent or utility costs, and meet other requirements regarding, among other things, the maintenance of employment and compensation levels. The Company used the PPP Loan proceeds for qualifying expenses and applied for the forgiveness of the PPP Loan in accordance with the terms of the CARES Act. On July 23, 2021, July 26, 2021. The SBA retains the right to review the Company's loan file for a period subsequent to the date the loan is forgiven, with the potential for the SBA to pursue legal remedies at its discretion. At December 31, 2020, |
Note 6 - Accounts Payable and A
Note 6 - Accounts Payable and Accrued Liabilities | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | ( 6 December 31, 2021 2020 Accounts payable $ 27,835 $ 14,785 Accrued property taxes 2,529 2,566 Accrued payroll 2,413 1,621 Workers' compensation reserve 2,560 2,988 Group health insurance 1,800 1,800 Fair value of interest rate swaps 867 2,793 Other 3,524 4,856 Total accounts payable and accrued liabilities $ 41,528 $ 31,409 |
Note 7 - Revenue
Note 7 - Revenue | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | ( 7 Revenue from Contracts with Customers We account for a contract with a customer when the parties have approved the contract and are committed to performing their respective obligations, the rights of each party are identified, payment terms are identified, the contract has commercial substance, and collectability of consideration is probable. We recognize revenue when we satisfy a performance obligation by transferring control of a good or service to a customer. We utilize the normal purchase normal sales exception for all long-term sales contracts. Our revenue is derived from sales to customers of coal produced at our facilities. Our customers purchase coal directly from our mine sites and our Princeton Loop, where the sale occurs and where title, risk of loss, and control typically pass to the customer at that point. Our customers arrange for and bear the costs of transporting their coal from our mines to their plants or other specified discharge points. Our customers are typically domestic utility companies. Our coal sales agreements with our customers are fixed-priced, fixed-volume supply contracts, or include a predetermined escalation in price for each year. Price re-opener and index provisions may may Coal sales agreements will typically contain coal quality specifications. With coal quality specifications in place, the raw coal sold by us to the customer at the delivery point must be substantially free of magnetic material and other foreign material impurities and crushed to a maximum size as set forth in the respective coal sales agreement. Price adjustments are made and billed in the month the coal sale was recognized based on quality standards that are specified in the coal sales agreement, such as Btu factor, moisture, ash, and sulfur content and can result in either increases or decreases in the value of the coal shipped. Disaggregation of Revenue Revenue is disaggregated by primary geographic markets, as we believe this best depicts how the nature, amount, timing, and uncertainty of our revenue and cash flows are affected by economic factors. 73% and 74% of our coal revenue for the years ended December 31, 2021 2020 Performance Obligations A performance obligation is a promise in a contract with a customer to provide distinct goods or services. Performance obligations are the unit of account for purposes of applying the revenue recognition standard and therefore determine when and how revenue is recognized. In most of our contracts, the customer contracts with us to provide coal that meets certain quality criteria. We consider each ton of coal a separate performance obligation and allocate the transaction price based on the base price per the contract, increased or decreased for quality adjustments. We recognize revenue at a point in time as the customer does not We have remaining performance obligations relating to fixed priced contracts of approximately $588 million, which represent the average fixed prices on our committed contracts as of December 31, 2021 2022 2023, We have remaining performance obligations relating to contracts with price reopeners of approximately $166 million, which represents our estimate of the expected re-opener price on committed contracts as of December 31, 2021 2024. The tons used to determine the remaining performance obligations are subject to adjustment in instances of force majeure and exercise of customer options to either take additional tons or reduce tonnage if such option exists in the customer contract. Contract Balances Under ASC 606, January 1, 2020, not not |
Note 8 - Income Taxes
Note 8 - Income Taxes | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | ( 8 Our income tax is different than the expected amount computed using the applicable federal statutory income tax rate of 21%. The reasons for and effects of such differences for the years ended December 31 2021 2020 Expected amount $ (783 ) $ (1,865 ) State income taxes, net of federal benefit (767 ) (644 ) Percentage depletion (1,725 ) (2,154 ) Valuation allowance 3,376 1,275 Stock-based compensation 380 67 PPP loan forgiveness (2,100 ) — Return to provision adjustments 1,610 (60 ) Other 35 723 $ 26 $ (2,658 ) The deferred tax assets and liabilities resulting from temporary differences between book and tax basis are comprised of the following at December 31 2021 2020 Deferred tax assets: Net operating loss $ 32,659 $ 24,081 Valuation allowance (4,651 ) (1,275 ) Capital loss carryforward — 525 Stock-based compensation — 179 Other — 234 Total deferred tax assets 28,008 23,744 Deferred tax liabilities: Coal properties (30,368 ) (26,171 ) Investment in partnerships (484 ) (397 ) Other (6 ) — Total deferred tax liabilities (30,858 ) (26,568 ) Net deferred tax liability $ (2,850 ) $ (2,824 ) Our effective tax rate (ETR) for 2021 2020 December 31, 2021 2020 not not We recognize deferred tax assets to the extent that we believe that these assets are more likely than not not not December 31, 2021 2020, We have analyzed our filing positions in all of the federal and state jurisdictions where we are required to file income tax returns, as well as all open tax years in these jurisdictions, to determine whether the positions will be more likely than not not not not not not three At December 31, 2021 2017 20 2018 2018 100% 2017 80% 2018 2035 2037 not 20 2034 2041 not |
Note 9 - Stock Compensation Pla
Note 9 - Stock Compensation Plans | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | ( 9 Restricted Stock Units (RSUs) The table below shows the number of RSUs available for issuance at December 31, 2021 Total authorized RSUs in Plan approved by shareholders 4,850,000 Stock issued out of the Plan from vested grants (3,265,829 ) Non-vested grants (183,000 ) RSUs available for future issuance 1,401,171 Non-vested grants at December 31, 2019 488,500 Granted – weighted average share price on grant date was $ .90 40,000 Vested – weighted average share price on vesting date was $ .92 (193,250 ) Forfeited (11,000 ) Non-vested grants at December 31, 2020 324,250 Granted – weighted average share price on grant date was $ 2.46 173,000 Vested – weighted average share price on vesting date was $ 2.27 (296,250 ) Forfeited (18,000 ) Non-vested grants at December 31, 2021 183,000 RSU Vesting Schedule Vesting Year RSUs Vesting 2023 183,000 Vested shares had a value of $0.7 million for 2021 2020 The outstanding RSUs have a value of $0.7 million based on the March 21, 2022 For the years ended December 31, 2021 2020 2022 2023, Stock Options We have no stock options outstanding. Stock Bonus Plan Our stock bonus plan was authorized in late 2009 |
Note 10 - Employee Benefits
Note 10 - Employee Benefits | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Compensation and Employee Benefit Plans [Text Block] | ( 10 We have no 401 first not not Our employee benefit expenses for the years ended December 31 2021 2020 Health benefits, including premiums $ 13,084 $ 13,173 401(k) matching 1,946 1,797 Deferred bonus plan 698 679 Total $ 15,728 $ 15,649 Of the amounts in the above table, $15.2 million and $15.0 million are recorded in operating costs and expenses for 2021 2020 Our mine employees are also covered by workers’ compensation and such costs for 2021 2020 no |
Note 11 - Leases
Note 11 - Leases | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | ( 11 We have operating leases for office space and processing facilities with remaining lease terms ranging from less than one five not not Information related to leases was as follows as of December 31 ( 2021 Operating lease information: Operating cash outflows from operating leases $ 199 Weighted average remaining lease term in years 2.21 Weighted average discount rate 6.0 % Future minimum lease payments under non-cancellable leases as of December 31, 2021 Year Amount 2022 $ 207 2023 174 2024 60 Total minimum lease payments $ 441 Less imputed interest (17 ) Total operating lease liability $ 424 As reflected on balance sheet: Other long-term liabilities $ 424 At December 31, 2021 |
Note 12 - Self Insurance
Note 12 - Self Insurance | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Self Insurance [Text Block] | ( 12 We self-insure our underground mining equipment. Such equipment is allocated among seven December 31, 2021 December 31, 2020 Restricted cash of $3.3 million and $4.0 million as of December 31, 2021 December 31, 2020 third |
Note 13 - Net Loss Per Share
Note 13 - Net Loss Per Share | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | ( 13 We compute net loss per share using the two The following table (in thousands, except per share amounts) sets forth the computation of net loss per share: Year Ended December 31, 2021 2020 Numerator: Net loss $ (3,754 ) $ (6,220 ) Less loss allocated to RSUs 35 94 Net loss allocated to common shareholders $ (3,719 ) $ (6,126 ) Denominator: Weighted average number of common shares outstanding 30,614 30,446 Net loss per share: Basic and diluted $ (0.12 ) $ (0.20 ) |
Note 14 - Fair Value Measuremen
Note 14 - Fair Value Measurements | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Fair Value Measurement and Measurement Inputs, Recurring and Nonrecurring [Text Block] | ( 14 We account for certain assets and liabilities at fair value. The hierarchy below lists three one three Level 1: 1 Level 2: not no 2 Level 3: no 3 two December 31, 2021, May 2022. third not 2. Q3 2021 Q4 2021 3 2. 3 1. The following table summarizes our financial assets and liabilities measured on a recurring basis at fair value at December 31, 2021 2020 Level 1 Level 2 Level 3 Total December 31, 2021 Liabilities: Interest rate swaps — — 867 867 $ — $ — $ 867 $ 867 December 31, 2020 Liabilities: Fuel hedge $ — $ — $ 297 $ 297 Interest rate swaps — — 3,893 3,893 $ — $ — $ 4,190 $ 4,190 The table below highlights the change in fair value of the fuel hedges and interest rate swaps which are based on a discounted future cash flow model (in thousands): Ending balance, December 31, 2019 $ (3,800 ) Change in estimated fair value (390 ) Ending balance, December 31, 2020 (4,190 ) Change in estimated fair value 3,323 Ending balance, December 31, 2021* $ (867 ) ------------------------------- *Recorded in accounts payable and accrued liabilities and other liabilities in the Balance Sheet to these Consolidated Financial Statements. |
Note 15 - Equity Method Investm
Note 15 - Equity Method Investments | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Equity Method Investments and Joint Ventures Disclosure [Text Block] | ( 15 Sunrise Energy, LLC We own a 50% interest in Sunrise Energy, LLC, which owns gas reserves and gathering equipment with plans to develop and operate such reserves. Sunrise Energy also plans to develop and explore for oil, gas, and coal-bed methane gas reserves on or near our underground coal reserves. The carrying value of the investment included in our consolidated balance sheets as of December 31, 2021 2020 Sunrise Energy plans to develop and explore for oil, gas, and coal-bed methane gas reserves on or near our underground coal reserves. |
Note 16 - Hourglass Sands
Note 16 - Hourglass Sands | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | ( 16 In February 2018, not In February 2018, one may In December 2019, August 2020, 2 |
Note 17 - Subsequent Event
Note 17 - Subsequent Event | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | ( 17 As announced in our Form 8 February 18, 2022, February 14, 2022, 1 July 2022 On March 25, 2022, 5 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Basis of Presentation and Consolidation The consolidated financial statements include the accounts of Hallador Energy Company (hereinafter known as, “we, us, or our”) and its wholly owned subsidiaries Sunrise Coal, LLC (Sunrise) and Hourglass Sands, LLC (Hourglass), and Sunrise’s wholly owned subsidiaries. All significant intercompany accounts and transactions have been eliminated. Sunrise is engaged in the production of steam coal from mines located in western Indiana. |
Going Concern [Policy Text Block] | Going Concern - Alleviation of Substantial Doubt In accordance with ASU 2014 15, Presentation of Financial Statements- Going Concern 205 40 one We performed the analysis, and our overall assessment was there were conditions or events, considered in the aggregate as of December 31, 2021, The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. During our analysis and overall assessment, it became clear that we were likely to violate one March 31, 2022 In March 2022, 5, Accordingly, the above factors have alleviated substantial doubt about the entity’s ability to continue as a going concern. |
Segment Reporting, Policy [Policy Text Block] | Segment Information The Company’s significant operating segment includes the two |
Receivables, Trade and Other Accounts Receivable, Allowance for Doubtful Accounts, Policy [Policy Text Block] | Allowance for Doubtful Accounts The Company evaluates the need for an allowance for uncollectible receivables based on a review of account balances that are likely to be uncollectible, as determined by such variables as customer creditworthiness, the age of the receivables and disputed amounts. Historically, credit losses have been insignificant. At December 31, 2021 2020 no |
Inventory Supplies, Policy [Policy Text Block] | Inventory Inventory and parts and supplies are valued at the lower of average cost or net realizable value determined using the first first |
Receivables and Portions of Securitizations that can be Prepaid at Potential Loss, Policy [Policy Text Block] | Prepaid expenses Prepaid expenses include prepaid insurance, prepaid maintenance expense, and a prepaid balance with our primary parts and supplies vendor. |
Advance Royalties [Policy Text Block] | Advanced Royalties Coal leases that require minimum annual or advance payments and are recoverable from future production are generally deferred and charged to expense as the coal is subsequently produced. Advance royalties are included in other assets. |
Mining Properties [Policy Text Block] | Mining Properties Mining properties are recorded at cost. Interest costs applicable to major asset additions are capitalized during the construction period. Expenditures that extend the useful lives or increase the productivity of the assets are capitalized. The cost of maintenance and repairs that do not three twenty-five If facts and circumstances suggest that a long-lived asset may not 2 |
Mine Development [Policy Text Block] | Mine Development Costs of developing new mines, including asset retirement obligation assets, or significantly expanding the capacity of existing mines, are capitalized and amortized using the units-of-production method over estimated recoverable reserves. |
Asset Retirement Obligation [Policy Text Block] | Asset Retirement Obligations (ARO) – Reclamation At the time they are incurred, legal obligations associated with the retirement of long-lived assets are reflected at their estimated fair value, with a corresponding charge to mine development. Obligations are typically incurred when we commence development of underground and surface mines and include reclamation of support facilities, refuse areas and slurry ponds. Obligations are reflected at the present value of their future cash flows. We reflect accretion of the obligations for the period from the date they are incurred through the date they are extinguished. The ARO assets are amortized using the units-of-production method over estimated recoverable (proven and probable) reserves. We are using credit-adjusted risk-free discount rates ranging from 5.0% to 10% to discount the obligation, inflation rates anticipated during the time to reclamation, and cost estimates prepared by our engineers inclusive of market risk premiums. Federal and state laws require that mines be reclaimed in accordance with specific standards and approved reclamation plans, as outlined in mining permits. Activities include reclamation of pit and support acreage at surface mines, sealing portals at underground mines, and reclamation of refuse areas and slurry ponds. We review our ARO at least annually and reflect revisions for permit changes, changes in our estimated reclamation costs and changes in the estimated timing of such costs. The change in estimate was a result of a change in timing of expected reclamation of the Ace in the Hole Mine, Carlisle Mine, and Prosperity Mine and updates to inflation rates from when the liabilities were first not The table below (in thousands) reflects the changes to our ARO: Year Ended December 31, 2021 2020 Balance, beginning of year $ 16,277 $ 15,764 Accretion 1,504 1,381 Change in estimate (3,510 ) — Payments (146 ) (868 ) Balance, end of year 14,125 16,277 Less current portion (100 ) (100 ) Long-term balance, end of year $ 14,025 $ 16,177 |
Derivatives, Policy [Policy Text Block] | Interest Rate Swaps The Company generally utilizes derivative instruments to manage exposures to interest rate risk on long-term debt. The Company enters into interest rate swaps in order to achieve a mix of fixed and variable rate debt that it deems appropriate. These interest rate swaps have not |
Statement of Cash Flows [Policy Text Block] | Statement of Cash Flows Cash equivalents include investments with maturities when purchased of three |
Income Tax, Policy [Policy Text Block] | Income Taxes Income taxes are provided based on the liability method of accounting. The provision for income taxes is based on pretax financial income. Deferred tax assets and liabilities are recognized for the future expected tax consequences of temporary differences between income tax and financial reporting and principally relate to differences in the tax basis of assets and liabilities and their reported amounts, using enacted tax rates in effect for the year in which differences are expected to reverse. |
Earnings Per Share, Policy [Policy Text Block] | Net Income (Loss) per Share Basic net income (loss) per share is computed on the basis of the weighted average number of shares of common stock outstanding during the period using the two two |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates in the Preparation of Financial Statements The preparation of financial statements in conformity with generally accepted accounting principles requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual amounts could differ from those estimates. The most significant estimates included in the preparation of the financial statements relate to: (i) deferred income tax accounts, (ii) coal reserves, (iii) depreciation, depletion, and amortization, (iv) estimates relating to interest rate swaps, (v) estimates used in our impairment analysis and measurement of impairments, and (vi) estimates used in the calculation of our asset retirement obligations. |
Insurance, Long-Duration Contract [Policy Text Block] | Long-term Contracts As of December 31, 2021 For 2021 five 10% five 10% December 31, 2021 For 2020 four 10% four 10% December 31, 2020 |
Share-based Payment Arrangement [Policy Text Block] | Stock-based Compensation Stock-based compensation for restricted stock units is measured at the grant date based on the fair value of the award and is recognized as expense over the applicable vesting period of the stock award (generally two four |
Note 1 - Summary of Significa_2
Note 1 - Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Asset Retirement Obligations [Table Text Block] | Year Ended December 31, 2021 2020 Balance, beginning of year $ 16,277 $ 15,764 Accretion 1,504 1,381 Change in estimate (3,510 ) — Payments (146 ) (868 ) Balance, end of year 14,125 16,277 Less current portion (100 ) (100 ) Long-term balance, end of year $ 14,025 $ 16,177 |
Note 4 - Other Long-term Asse_2
Note 4 - Other Long-term Assets (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Other Assets, Noncurrent [Table Text Block] | December 31, 2021 2020 Advanced coal royalties $ 6,678 $ 6,449 Other 1,694 1,809 Total other assets $ 8,372 $ 8,258 |
Note 5 - Bank Debt (Tables)
Note 5 - Bank Debt (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | December 31, 2021 2020 Current bank debt $ 25,725 $ 36,750 Less unamortized debt issuance cost (2,627 ) (2,439 ) Net current portion $ 23,098 $ 34,311 Long-term bank debt $ 86,013 $ 100,988 Less unamortized debt issuance cost (1,346 ) (3,681 ) Net long-term portion $ 84,667 $ 97,307 Total bank debt $ 111,738 $ 137,738 Less total unamortized debt issuance cost (3,973 ) (6,120 ) Net bank debt $ 107,765 $ 131,618 |
Schedule of Line of Credit Facilities [Table Text Block] | Fiscal Periods Ending Ratio December 31, 2021 3.00 to 1.00 March 31, 2022, and each fiscal quarter thereafter 2.50 to 1.00 |
Schedule of Maturities of Long-term Debt [Table Text Block] | Future Maturities (in thousands): 2022 25,725 2023 86,013 Total $ 111,738 |
Note 6 - Accounts Payable and_2
Note 6 - Accounts Payable and Accrued Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block] | December 31, 2021 2020 Accounts payable $ 27,835 $ 14,785 Accrued property taxes 2,529 2,566 Accrued payroll 2,413 1,621 Workers' compensation reserve 2,560 2,988 Group health insurance 1,800 1,800 Fair value of interest rate swaps 867 2,793 Other 3,524 4,856 Total accounts payable and accrued liabilities $ 41,528 $ 31,409 |
Note 8 - Income Taxes (Tables)
Note 8 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | 2021 2020 Expected amount $ (783 ) $ (1,865 ) State income taxes, net of federal benefit (767 ) (644 ) Percentage depletion (1,725 ) (2,154 ) Valuation allowance 3,376 1,275 Stock-based compensation 380 67 PPP loan forgiveness (2,100 ) — Return to provision adjustments 1,610 (60 ) Other 35 723 $ 26 $ (2,658 ) |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | 2021 2020 Deferred tax assets: Net operating loss $ 32,659 $ 24,081 Valuation allowance (4,651 ) (1,275 ) Capital loss carryforward — 525 Stock-based compensation — 179 Other — 234 Total deferred tax assets 28,008 23,744 Deferred tax liabilities: Coal properties (30,368 ) (26,171 ) Investment in partnerships (484 ) (397 ) Other (6 ) — Total deferred tax liabilities (30,858 ) (26,568 ) Net deferred tax liability $ (2,850 ) $ (2,824 ) |
Note 9 - Stock Compensation P_2
Note 9 - Stock Compensation Plans (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Nonvested Restricted Stock Shares Activity [Table Text Block] | Total authorized RSUs in Plan approved by shareholders 4,850,000 Stock issued out of the Plan from vested grants (3,265,829 ) Non-vested grants (183,000 ) RSUs available for future issuance 1,401,171 |
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block] | Non-vested grants at December 31, 2019 488,500 Granted – weighted average share price on grant date was $ .90 40,000 Vested – weighted average share price on vesting date was $ .92 (193,250 ) Forfeited (11,000 ) Non-vested grants at December 31, 2020 324,250 Granted – weighted average share price on grant date was $ 2.46 173,000 Vested – weighted average share price on vesting date was $ 2.27 (296,250 ) Forfeited (18,000 ) Non-vested grants at December 31, 2021 183,000 |
Share-based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block] | Vesting Year RSUs Vesting 2023 183,000 |
Note 10 - Employee Benefits (Ta
Note 10 - Employee Benefits (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Expected Benefit Payments [Table Text Block] | 2021 2020 Health benefits, including premiums $ 13,084 $ 13,173 401(k) matching 1,946 1,797 Deferred bonus plan 698 679 Total $ 15,728 $ 15,649 |
Note 11 - Leases (Tables)
Note 11 - Leases (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Lease, Cost [Table Text Block] | 2021 Operating lease information: Operating cash outflows from operating leases $ 199 Weighted average remaining lease term in years 2.21 Weighted average discount rate 6.0 % |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Year Amount 2022 $ 207 2023 174 2024 60 Total minimum lease payments $ 441 Less imputed interest (17 ) Total operating lease liability $ 424 As reflected on balance sheet: Other long-term liabilities $ 424 |
Note 13 - Net Loss Per Share (T
Note 13 - Net Loss Per Share (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Year Ended December 31, 2021 2020 Numerator: Net loss $ (3,754 ) $ (6,220 ) Less loss allocated to RSUs 35 94 Net loss allocated to common shareholders $ (3,719 ) $ (6,126 ) Denominator: Weighted average number of common shares outstanding 30,614 30,446 Net loss per share: Basic and diluted $ (0.12 ) $ (0.20 ) |
Note 14 - Fair Value Measurem_2
Note 14 - Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Level 1 Level 2 Level 3 Total December 31, 2021 Liabilities: Interest rate swaps — — 867 867 $ — $ — $ 867 $ 867 December 31, 2020 Liabilities: Fuel hedge $ — $ — $ 297 $ 297 Interest rate swaps — — 3,893 3,893 $ — $ — $ 4,190 $ 4,190 |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | Ending balance, December 31, 2019 $ (3,800 ) Change in estimated fair value (390 ) Ending balance, December 31, 2020 (4,190 ) Change in estimated fair value 3,323 Ending balance, December 31, 2021* $ (867 ) |
Note 1 - Summary of Significa_3
Note 1 - Summary of Significant Accounting Policies (Details Textual) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021USD ($)T | Dec. 31, 2020USD ($) | |
Accounts Receivable, Allowance for Credit Loss, Ending Balance | $ | $ 0 | $ 0 |
Regulatory Assets, Total | $ | $ 23,500 | |
Coal Supply Commitment (US Ton) | T | 20.7 | |
Year Supply Commitments End | 2027 | |
Priced Coal Supply Commitment (US Ton) | T | 16.2 | |
Revenue, Product and Service Benchmark [Member] | Customer Concentration Risk [Member] | Coal [Member] | ||
Number of Major Customers | 5 | 4 |
Revenue, Product and Service Benchmark [Member] | Customer Concentration Risk [Member] | Five Customers [Member] | Coal [Member] | ||
Concentration Risk, Percentage | 95.00% | |
Revenue, Product and Service Benchmark [Member] | Customer Concentration Risk [Member] | Four Customers [Member] | Coal [Member] | ||
Concentration Risk, Percentage | 79.00% | |
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Coal [Member] | ||
Number of Major Customers | 5 | 4 |
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Five Customers [Member] | Coal [Member] | ||
Concentration Risk, Percentage | 99.00% | |
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Four Customers [Member] | Coal [Member] | ||
Concentration Risk, Percentage | 87.00% | |
Minimum [Member] | ||
Property, Plant and Equipment, Useful Life (Year) | 3 years | |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 2 years | |
Minimum [Member] | Measurement Input, Discount Rate [Member] | ||
ARO measurement input | 0.050 | |
Maximum [Member] | ||
Property, Plant and Equipment, Useful Life (Year) | 25 years | |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 4 years | |
Maximum [Member] | Measurement Input, Discount Rate [Member] | ||
ARO measurement input | 0.10 | |
Southwestern Indiana [Member] | ||
Number of Underground Mines Included in the Significant Operating Segment | 2 |
Note 1 - Summary of Significa_4
Note 1 - Summary of Significant Accounting Policies - Changes to Asset Retirement Obligation (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Balance, beginning of year | $ 16,277 | $ 15,764 |
Accretion | 1,504 | 1,381 |
Change in estimate | (3,510) | 0 |
Payments | (146) | (868) |
Balance, end of year | 14,125 | 16,277 |
Less current portion | (100) | (100) |
Long-term balance, end of year | $ 14,025 | $ 16,177 |
Note 2 - Long-lived Asset Imp_2
Note 2 - Long-lived Asset Impairments (Details Textual) - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||
Aug. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Asset Impairment Charges, Total | $ 1,588 | $ 1,799 | ||||
Prosperity Mine [Member] | ||||||
Asset Impairment Charges, Total | 1,600 | |||||
Mineral Properties, Scrap Value | 1,100 | |||||
Mineral Properties, Net, Total | 2,700 | |||||
Hourglass Sands [Member] | ||||||
Asset Impairment Charges, Total | $ 1,800 | $ 2,900 | $ 1,800 | $ 2,900 | ||
Mineral Properties, Net, Total | $ 1,900 | $ 1,900 | ||||
COVID-19 Pandemic [Member] | ||||||
Asset Impairment Charges, Total | $ 0 | $ 0 |
Note 3 - Inventory (Details Tex
Note 3 - Inventory (Details Textual) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Inventory Adjustments, Total | $ 3.8 | $ 1.6 |
Note 4 - Other Long-term Asse_3
Note 4 - Other Long-term Assets - Other Long-term Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Advanced coal royalties | $ 6,678 | $ 6,449 |
Other | 1,694 | 1,809 |
Total other assets | $ 8,372 | $ 8,258 |
Note 5 - Bank Debt (Details Tex
Note 5 - Bank Debt (Details Textual) $ in Thousands | Apr. 15, 2020USD ($) | Dec. 31, 2021USD ($) | Dec. 31, 2020USD ($) | Jul. 23, 2021USD ($) | May 31, 2021USD ($) | Apr. 30, 2020USD ($) |
Long-term Debt, Gross | $ 111,738 | $ 137,738 | ||||
Debt Issuance Costs, Net, Total | $ 3,973 | 6,120 | ||||
Leverage Ratio | 2.34 | |||||
Debt Service Coverage Ratio | 1.11 | |||||
Proceeds from Notes Payable, Total | $ 0 | 10,000 | ||||
Interest Rate Swap [Member] | ||||||
Derivative, Fixed Interest Rate | 2.92% | |||||
Derivative, Variable Interest Rate | 6.42% | |||||
Derivative, Amount of Hedged Item | $ 83,900 | |||||
Interest Rate Swap [Member] | Not Designated as Hedging Instrument [Member] | ||||||
Debt Instrument, Interest Rate, Effective Percentage Unhedged Amount | 3.50% | |||||
London Interbank Offered Rate (LIBOR) [Member] | Interest Rate Swap [Member] | ||||||
Derivative, Basis Spread on Variable Rate | 3.50% | |||||
Credit Agreement [Member] | ||||||
Debt Instrument, Covenant, Maximum Annual Capital Expenditures, Remainder of Fiscal Year | $ 30,000 | |||||
Debt Instrument, Covenant, Maximum Annual Capital Expenditures, Next Fiscal Year and Thereafter | $ 25,000 | |||||
Debt Instrument, Covenant, Maximum Leverage Ratio for Dividends | 2 | |||||
Debt Instrument, Increase (Decrease), Net, Total | $ 26,000 | |||||
Long-term Debt, Gross | 111,700 | |||||
Debt Instrument, Unused Borrowing Capacity, Amount | 33,400 | |||||
Debt Instrument, Liquidity | 35,900 | |||||
Letters of Credit Outstanding, Amount | 5,700 | |||||
Debt Issuance Costs, Net, Total | $ 1,900 | 4,000 | 6,100 | $ 400 | $ 7,900 | |
Debt Instrument, Unhedged Portion | $ 27,800 | |||||
Credit Agreement [Member] | Interest Rate Swap [Member] | ||||||
Derivative, Fixed Interest Rate | 2.92% | |||||
Credit Agreement [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||
Debt Instrument, Variable Rate Floor | 0.50% | |||||
Credit Agreement [Member] | London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member] | ||||||
Debt Instrument, Basis Spread on Variable Rate | 2.75% | |||||
Credit Agreement [Member] | London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member] | ||||||
Debt Instrument, Basis Spread on Variable Rate | 4.00% | |||||
Credit Agreement [Member] | Through December 31, 2021 [Member] | ||||||
Debt Instrument, Covenant, Minimum Debt Service Coverage Ratio | 1.05 | |||||
Credit Agreement [Member] | After December 31, 2021 [Member] | ||||||
Debt Instrument, Covenant, Minimum Debt Service Coverage Ratio | 1.25 | |||||
Credit Agreement [Member] | Term Loan [Member] | ||||||
Long-term Debt, Gross | $ 31,200 | |||||
Credit Agreement [Member] | Revolving Credit Facility [Member] | ||||||
Line of Credit Facility, Maximum Borrowing Capacity | 120,000 | |||||
Long-term Line of Credit, Total | 80,500 | |||||
Credit Agreement [Member] | Revolving Credit Facility [Member] | Interest Rate Swap [Member] | ||||||
Derivative, Notional Amount | $ 52,700 | |||||
Paycheck Protection Program CARES Act [Member] | ||||||
Proceeds from Notes Payable, Total | $ 10,000 | |||||
Notes Payable, Total | $ 10,000 | |||||
Notes Payable, Amount of Forgiveness Applied For | $ 10,000 |
Note 5 - Bank Debt - Bank Debt,
Note 5 - Bank Debt - Bank Debt, Less Debt Issuance Costs (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Current bank debt | $ 25,725 | $ 36,750 |
Less unamortized debt issuance cost | (2,627) | (2,439) |
Net current portion | 23,098 | 34,311 |
Long-term bank debt | 86,013 | 100,988 |
Less unamortized debt issuance cost | (1,346) | (3,681) |
Net long-term portion | 84,667 | 97,307 |
Total | 111,738 | 137,738 |
Less total unamortized debt issuance cost | (3,973) | (6,120) |
Net bank debt | $ 107,765 | $ 131,618 |
Note 5 - Bank Debt - Maximum Le
Note 5 - Bank Debt - Maximum Leverage Ratio (Details) - Credit Agreement [Member] | Dec. 31, 2021 |
Periods Ended March 31, 2021 and June 30, 2021 [Member] | |
Maximum Leverage Ratio | 3 |
Period Ended March 31, 2022 and Thereafter [Member] | |
Maximum Leverage Ratio | 2.50 |
Note 5 - Bank Debt - Schedule o
Note 5 - Bank Debt - Schedule of Future Maturity (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
2022 | $ 25,725 | |
2023 | 86,013 | |
Total | $ 111,738 | $ 137,738 |
Note 6 - Accounts Payable and_3
Note 6 - Accounts Payable and Accrued Liabilities - Accounts Payable and Accrued Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Accounts payable | $ 27,835 | $ 14,785 |
Accrued property taxes | 2,529 | 2,566 |
Accrued payroll | 2,413 | 1,621 |
Workers' compensation reserve | 2,560 | 2,988 |
Group health insurance | 1,800 | 1,800 |
Fair value of interest rate swaps | 867 | 2,793 |
Other | 3,524 | 4,856 |
Total accounts payable and accrued liabilities | $ 41,528 | $ 31,409 |
Note 7 - Revenue 1 (Details Tex
Note 7 - Revenue 1 (Details Textual) - Coal [Member] - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Jan. 01, 2020 | |
Accounts Receivable, after Allowance for Credit Loss, Total | $ 14.4 | ||
INDIANA | Revenue from Contract with Customer Benchmark [Member] | Geographic Concentration Risk [Member] | |||
Concentration Risk, Percentage | 73.00% | 74.00% |
Note 7 - Revenue 2 (Details Tex
Note 7 - Revenue 2 (Details Textual) $ in Millions | Dec. 31, 2021USD ($) |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01 | Fixed-price Contract [Member] | |
Revenue, Remaining Performance Obligation, Amount | $ 588 |
Revenue, Remaining Performance Obligation, Percentage | 85.00% |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year) | 2 years |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | Contracts with Price Reopeners [Member] | |
Revenue, Remaining Performance Obligation, Amount | $ 166 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year) | 1 year |
Note 8 - Income Taxes (Details
Note 8 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | |
Effective Income Tax Rate Reconciliation, Percent, Total | 1.00% | 30.00% |
Deferred Tax Assets, Valuation Allowance, Total | $ 4,651 | $ 1,275 |
Deferred Tax Assets, Operating Loss Carryforwards, Domestic | 125,000 | |
Deferred Tax Assets, Operating Loss Carryforwards, State and Local | 158,000 | |
State and Local Jurisdiction [Member] | ||
Deferred Tax Assets, Valuation Allowance, Total | 4,700 | $ 1,300 |
Domestic Tax Authority [Member] | Pre-2018 [Member] | ||
Operating Loss Carryforwards, Total | 56,000 | |
Domestic Tax Authority [Member] | Post 2017 [Member] | ||
Operating Loss Carryforwards, Total | $ 69,000 |
Note 8 - Income Taxes - Differe
Note 8 - Income Taxes - Difference Between Expected Amount and Actual Amount, Reconciliation (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Expected amount | $ (783) | $ (1,865) |
State income taxes, net of federal benefit | (767) | (644) |
Percentage depletion | (1,725) | (2,154) |
Valuation allowance | 3,376 | 1,275 |
Stock-based compensation | 380 | 67 |
PPP loan forgiveness | (2,100) | 0 |
Return to provision adjustments | 1,610 | (60) |
Other | 35 | 723 |
Total income tax expense (benefit) | $ 26 | $ (2,658) |
Note 8 - Income Taxes - Deferre
Note 8 - Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Deferred tax assets: | ||
Net operating loss | $ 32,659 | $ 24,081 |
Valuation allowance | (4,651) | (1,275) |
Capital loss carryforward | 0 | 525 |
Stock-based compensation | 0 | 179 |
Other | 0 | 234 |
Total deferred tax assets | 28,008 | 23,744 |
Coal properties | (30,368) | (26,171) |
Investment in partnerships | (484) | (397) |
Other | (6) | 0 |
Total deferred tax liabilities | (30,858) | (26,568) |
Net deferred tax liability | $ (2,850) | $ (2,824) |
Note 9 - Stock Compensation P_3
Note 9 - Stock Compensation Plans (Details Textual) - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | |||||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Mar. 21, 2022 | Dec. 31, 2009 | |
Share-based Payment Arrangement, Expense | $ 1 | $ 1.2 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance (in shares) | 0 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 250,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 86,383 | |||||
Forecast [Member] | ||||||
Share-based Payment Arrangement, Expense | $ 0.2 | $ 0.2 | ||||
Subsequent Event [Member] | ||||||
Share Price (in dollars per share) | $ 3.74 | |||||
Restricted Stock Units (RSUs) [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value | $ 0.7 | $ 0.2 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 4,850,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 1,401,171 | |||||
Restricted Stock Units (RSUs) [Member] | Subsequent Event [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Outstanding | $ 0.7 |
Note 9 - Stock Compensation P_4
Note 9 - Stock Compensation Plans - Schedule of Restricted Stock Units (Details) - shares | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2009 |
Total authorized RSUs in Plan approved by shareholders (in shares) | 250,000 | |||
RSUs available for future issuance (in shares) | 86,383 | |||
Restricted Stock Units (RSUs) [Member] | ||||
Total authorized RSUs in Plan approved by shareholders (in shares) | 4,850,000 | |||
Stock issued out of the Plan from vested grants (in shares) | (3,265,829) | |||
Non-vested grants (in shares) | (183,000) | (324,250) | (488,500) | |
RSUs available for future issuance (in shares) | 1,401,171 |
Note 9 - Stock Compensation P_5
Note 9 - Stock Compensation Plans - RSU Activity (Details) - Restricted Stock Units (RSUs) [Member] - shares | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Non-vested grants (in shares) | 324,250 | 488,500 |
Granted (in shares) | 173,000 | 40,000 |
Vested (in shares) | (296,250) | (193,250) |
Forfeited (in shares) | (18,000) | (11,000) |
Non-vested grants (in shares) | 183,000 | 324,250 |
Note 9 - Stock Compensation P_6
Note 9 - Stock Compensation Plans - RSU Activity (Details) (Parentheticals) - Restricted Stock Units (RSUs) [Member] - $ / shares | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Share price on grant date (in dollars per share) | $ 2.46 | $ 0.90 |
Share price on vesting date (in dollars per share) | $ 2.27 | $ 0.92 |
Note 9 - Stock Compensation P_7
Note 9 - Stock Compensation Plans - Vesting of Non-vested RSU Grants (Details) | Dec. 31, 2021shares |
Restricted Stock Units (RSUs) [Member] | Vesting in 2023 [Member] | |
RSUs vesting (in shares) | 183,000 |
Note 10 - Employee Benefits (De
Note 10 - Employee Benefits (Details Textual) | Dec. 31, 2021USD ($) | Dec. 31, 2021USD ($) | Dec. 31, 2020USD ($) |
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 100.00% | ||
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent | 4.00% | ||
Participants in Employee Health Plan | 2,274 | 2,274 | |
Health Care Cap Per Person | $ 200,000 | ||
Insured Capped Maximum Exposure, Health Care | 16,600,000 | ||
Employee Benefit Costs | 15,728,000 | $ 15,649,000 | |
Other Labor-related Expenses | 2,900,000 | 1,900,000 | |
Insured Maximum Exposure Per Employee | 1,000,000 | ||
Aggregate Insurance Deductible for Employees | $ 4,000,000 | ||
Operating Expense [Member] | |||
Employee Benefit Costs | $ 15,200,000 | $ 15,000,000 |
Note 10 - Employee Benefits - E
Note 10 - Employee Benefits - Employee Benefit Plans (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Health benefits, including premiums | $ 13,084 | $ 13,173 |
401(k) matching | 1,946 | 1,797 |
Deferred bonus plan | 698 | 679 |
Total | $ 15,728 | $ 15,649 |
Note 11 - Leases (Details Textu
Note 11 - Leases (Details Textual) | Dec. 31, 2021USD ($) |
Buildings and Equipment [Member] | |
Operating Lease, Right-of-Use Asset | $ 424,000 |
Minimum [Member] | |
Lessee, Operating Lease, Remaining Lease Term (Year) | 1 year |
Maximum [Member] | |
Lessee, Operating Lease, Remaining Lease Term (Year) | 5 years |
Note 11 - Leases - Information
Note 11 - Leases - Information Related to Leases (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2021USD ($) | |
Operating cash outflows from operating leases | $ 199 |
Weighted average remaining lease term in years (Year) | 2 years 2 months 15 days |
Weighted average discount rate | 6.00% |
Note 11 - Leases - Future Minim
Note 11 - Leases - Future Minimum Lease Payments (Details) $ in Thousands | Dec. 31, 2021USD ($) |
2022 | $ 207 |
2023 | 174 |
2024 | 60 |
Total minimum lease payments | 441 |
Less imputed interest | (17) |
Other Noncurrent Liabilities [Member] | |
Total operating lease liability | 424 |
Other long-term liabilities | $ 424 |
Note 12 - Self Insurance (Detai
Note 12 - Self Insurance (Details Textual) $ in Thousands | Dec. 31, 2021USD ($)item | Dec. 31, 2020USD ($) |
Restricted Cash and Cash Equivalents, Total | $ 3,283 | $ 4,030 |
Future Workers' Compensation Claim Payments [Member] | ||
Restricted Cash and Cash Equivalents, Total | $ 3,300 | 4,000 |
Mining Properties and Mineral Rights [Member] | ||
Number of Mining Units | 7 | |
Area of Real Estate Property | item | 10 | |
Operating Lease, Liability, Total | $ 260,000 | $ 269,000 |
Note 13 - Net Loss Per Share -
Note 13 - Net Loss Per Share - Computation of Net Income(Loss) Allocated to Common Shareholders (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Net loss | $ (3,754) | $ (6,220) |
Less loss allocated to RSUs | 35 | 94 |
Net loss allocated to common shareholders | $ (3,719) | $ (6,126) |
Weighted average number of common shares outstanding (in shares) | 30,614 | 30,446 |
Basic and diluted (in dollars per share) | $ (0.12) | $ (0.20) |
Note 14 - Fair Value Measurem_3
Note 14 - Fair Value Measurements (Details Textual) $ in Millions | Dec. 31, 2021USD ($) |
Interest Rate Swap [Member] | |
Derivative, Number of Instruments Held, Total | 2 |
Interest Rate Swap, One [Member] | |
Derivative, Notional Amount | $ 53 |
Interest Rate Swap, Two [Member] | |
Derivative, Notional Amount | $ 31 |
Note 14 - Fair Value Measurem_4
Note 14 - Fair Value Measurements - Financial Assets and Liabilities Measured on a Recurring Basis at Fair Value (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Derivate liabilities | $ 867 | $ 4,190 |
Interest Rate Swap [Member] | ||
Derivate liabilities | 867 | 3,893 |
Fuel Hedge [Member] | ||
Derivate liabilities | 297 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Derivate liabilities | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Interest Rate Swap [Member] | ||
Derivate liabilities | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Fuel Hedge [Member] | ||
Derivate liabilities | 0 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Derivate liabilities | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Interest Rate Swap [Member] | ||
Derivate liabilities | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Fuel Hedge [Member] | ||
Derivate liabilities | 0 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Derivate liabilities | 867 | 4,190 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Interest Rate Swap [Member] | ||
Derivate liabilities | $ 867 | 3,893 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Fuel Hedge [Member] | ||
Derivate liabilities | $ 297 |
Note 14 - Fair Value Measurem_5
Note 14 - Fair Value Measurements - Change in Fair Value of the Fuel Hedges and Interest Rate Swaps (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | ||
Balance | $ (4,190) | $ (3,800) | |
Change in estimated fair value | 3,323 | (390) | |
Balance | $ (867) | [1] | $ (4,190) |
[1] | Recorded in accounts payable and accrued liabilities and other liabilities in the Balance Sheet to these Consolidated Financial Statements. |
Note 15 - Equity Method Inves_2
Note 15 - Equity Method Investments (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Equity Method Investments | $ 3,545 | $ 3,181 |
Sunrise Energy, LLC [Member] | ||
Equity Method Investment, Ownership Percentage | 50.00% | |
Equity Method Investments | $ 3,500 | $ 3,200 |
Note 16 - Hourglass Sands (Deta
Note 16 - Hourglass Sands (Details Textual) - USD ($) $ in Thousands | 1 Months Ended | 2 Months Ended | 3 Months Ended | 12 Months Ended | ||||
Aug. 31, 2020 | Dec. 31, 2019 | Feb. 28, 2018 | Feb. 28, 2018 | Sep. 30, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Asset Impairment Charges, Total | $ 1,588 | $ 1,799 | ||||||
Hourglass Sands [Member] | ||||||||
Asset Impairment Charges, Total | $ 1,800 | $ 2,900 | $ 1,800 | $ 2,900 | ||||
Hourglass Sands [Member] | ||||||||
Capitalization, Long-term Debt and Equity, Total | $ 8,000 | $ 8,000 | ||||||
Capital Unit, Class A [Member] | Hourglass Sands [Member] | ||||||||
Noncontrolling Interest, Ownership Percentage by Parent | 100.00% | |||||||
Percentage of Profit Until Capital Investment and Interest is Returned | 100.00% | |||||||
Percentage of Profit After Capital Investment and Interest is Returned | 90.00% | |||||||
Hourglass Sands LLC [Member] | ||||||||
Business Combination, Consideration Transferred, Total | 4,000 | $ 4,000 | ||||||
Hourglass Sands LLC [Member] | Director [Member] | ||||||||
Business Combination, Consideration Transferred, Total | $ 4,000 |
Note 17 - Subsequent Event (Det
Note 17 - Subsequent Event (Details Textual) | Feb. 14, 2022 |
Subsequent Event [Member] | Hoosier Energy [Member] | |
Purchase Power Agreement, Term (Year) | 3 years 6 months |