Intrepid Potash Inc
For the period ended Mar 31, 2024. Filed May 9, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 9, 2024
IPI$33.40+0.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
| INTREPID POTASH, INC. | ||
|---|---|---|
| CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | ||
| (In thousands) | ||
| Three Months Ended March 31, | ||
| 2024 | 2023 | |
| Cash Flows from Operating Activities: | ||
| Net (loss) income | $(3,130) | $4,506 |
| Adjustments to reconcile net (loss) income to net cash provided by operating activities: | ||
| Depreciation, depletion and amortization | 9,304 | 9,292 |
| Accretion of asset retirement obligation | 622 | 535 |
| Amortization of deferred financing costs | 75 | 75 |
| Amortization of intangible assets | 80 | 80 |
| Stock-based compensation | 1,322 | 1,746 |
| Lower of cost or net realizable value inventory adjustments | 503 | — |
| Impairment of long-lived assets | 1,377 | — |
| Loss on disposal of assets | 251 | 200 |
| Allowance for parts inventory obsolescence | 53 | — |
| Equity in earnings of unconsolidated entities | (149) | (821) |
| Distribution of earnings from unconsolidated entities | — | 320 |
| Changes in operating assets and liabilities: | ||
| Trade accounts receivable, net | (19,749) | (12,474) |
| Other receivables, net | 247 | (92) |
| Inventory, net | 10,835 | 7,645 |
| Prepaid expenses and other current assets | 922 | 250 |
| Deferred tax assets, net | (789) | 1,661 |
| Accounts payable, accrued liabilities, and accrued employee compensation and benefits | (3,621) | (5,305) |
| Operating lease liabilities | (384) | (401) |
| Deferred other income | 44,434 | — |
| Other liabilities | (671) | 1,232 |
| Net cash provided by operating activities | 41,532 | 8,449 |
| Cash Flows from Investing Activities: | ||
| Additions to property, plant, equipment, mineral properties and other assets | (11,673) | (21,039) |
| Purchase of investments | — | (956) |
| Proceeds from sale of assets | 4,596 | 65 |
| Proceeds from redemptions/maturities of investments | 500 | 1,500 |
| Net cash used in investing activities | (6,577) | (20,430) |
| Cash Flows from Financing Activities: | ||
| Proceeds from short-term borrowings on credit facility | — | 5,000 |
| Repayments of short-term borrowings on credit facility | (4,000) | — |
| Payments of financing lease | (324) | (43) |
| Employee tax withholding paid for restricted stock upon vesting | (633) | (1,037) |
| Net cash (used in) provided by financing activities | (4,957) | 3,920 |
| Net Change in Cash, Cash Equivalents and Restricted Cash | 29,998 | (8,061) |
| Cash, Cash Equivalents and Restricted Cash, beginning of period | 4,651 | 19,084 |
| Cash, Cash Equivalents and Restricted Cash, end of period | $34,649 | $11,023 |
| INTREPID POTASH, INC. | ||
|---|---|---|
| CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | ||
| (In thousands) | ||
| Three Months Ended March 31, | ||
| 2024 | 2023 | |
| Supplemental disclosure of cash flow information | ||
| Net cash paid (received) during the period for: | ||
| Interest | $185 | $59 |
| Income taxes | $(3) | $9 |
| Amounts included in the measurement of operating lease liabilities | $412 | $460 |
| Accrued purchases for property, plant, equipment, and mineral properties | $4,739 | $7,410 |
| Right-of-use assets exchanged for financing lease liabilities | $495 | $1,677 |
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