Intrepid Potash Inc

For the period ended Sep 30, 2024. Filed Nov 5, 2024.

About this filing

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.

Sep 30, 2024 · Filed Nov 5, 2024

IPI$33.40+0.4%Stored close · as of Nov 10, 2026

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Contents

Condensed Consolidated Statements of Cash Flows

INTREPID POTASH, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
(In thousands)
	Nine Months Ended September 30,
	2024	2023
Cash Flows from Operating Activities:
Net (loss) income	$(5,796)	$1,615
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation, depletion and amortization	26,931	28,305
Accretion of asset retirement obligation	1,867	1,605
Amortization of deferred financing costs	226	226
Amortization of intangible assets	246	241
Stock-based compensation	2,735	5,071
Lower of cost or net realizable value inventory adjustments	2,326	3,413
Impairment of long-lived assets	3,082	521
Loss on disposal of assets	626	252
Allowance for doubtful accounts	—	110
Allowance for parts inventory obsolescence	643	140
Unrealized loss on equity investment	101	—
Equity in (earnings) loss of unconsolidated entities	256	292
Distribution of earnings from unconsolidated entities	—	452
Changes in operating assets and liabilities:
Trade accounts receivable, net	(10,146)	2,536
Other receivables, net	(1,245)	(1,659)
Inventory, net	(448)	2,379
Prepaid expenses and other current assets	(226)	(898)
Deferred tax assets, net	(1,179)	1,756
Accounts payable, accrued liabilities, and accrued employee compensation and benefits	4,009	(5,216)
Operating lease liabilities	(1,074)	(1,218)
Deferred other income	43,308	—
Other liabilities	(1,306)	(1,298)
Net cash provided by operating activities	64,936	38,625
Cash Flows from Investing Activities:
Additions to property, plant, equipment, mineral properties and other assets	(32,583)	(58,484)
Purchase of investments	—	(1,415)
Proceeds from sale of assets	4,656	125
Proceeds from redemptions/maturities of investments	2,000	4,500
Other investing, net	416	668
Net cash used in investing activities	(25,511)	(54,606)
Cash Flows from Financing Activities:
Proceeds from short-term borrowings on credit facility	—	7,000
Repayments of short-term borrowings on credit facility	(4,000)	(5,000)
Payments of financing lease	(680)	(399)
Employee tax withholding paid for restricted stock upon vesting	(775)	(1,337)
Net cash (used in) provided by financing activities	(5,455)	264

INTREPID POTASH, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
(In thousands)
	Nine Months Ended September 30,
	2024	2023
Net Change in Cash, Cash Equivalents and Restricted Cash	33,970	(15,717)
Cash, Cash Equivalents and Restricted Cash, beginning of period	4,651	19,084
Cash, Cash Equivalents and Restricted Cash, end of period	$38,621	$3,367
Supplemental disclosure of cash flow information
Net cash paid during the period for:
Interest	$382	$287
Income taxes	$9	$295
Amounts included in the measurement of operating lease liabilities	$1,143	$1,357
Accrued purchases for property, plant, equipment, and mineral properties	$1,868	$3,241
Right-of-use assets exchanged for operating lease liabilities	$751	$48
Right-of-use assets exchanged for financing lease liabilities	$1,562	$3,009

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