XML 56 R36.htm IDEA: XBRL DOCUMENT v3.25.4

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2025

INCOME TAXES

Schedule of income tax expense

​

​	​	​	​	​	​	​	​	​	​
​	​	Year Ended December 31,
​	​	2025		​	2024		​	2023
​	​	(In thousands)
Current	​	​	​	​	​	​	​	​
Federal	​	$	(1,395)	​	$	(433)	​	$	2,469
State	​	​	91	​	​	(338)	​	​	1,297
Total Current	​	​	(1,304)	​	​	(771)	​	​	3,766
Deferred	​	​	​	​	​	​	​	​	​
Federal	​	​	—	​	​	—	​	​	—
State	​	​	—	​	​	—	​	​	—
Total Deferred	​	​	—	​	​	—	​	​	—
Income tax (benefit) expense	​	$	(1,304)	​	$	(771)	​	$	3,766

Schedule of effective income expense

​

​	​	​	​	​	​	​
​	​	Year Ended December 31,
​	​	2025
​	​	(In thousands, except percentage values)
​	​	​	Amount	​	Percent
U.S. federal statutory rate	​	$	20,653	​	21.00	%
​	​	​	​	​	​	​
State and local income taxes, net of federal income tax effect (1)	​	​	91	​	0.09	%
Changes in valuation allowances	​	​	(1,917)	​	(1.95)	%
Nontaxable or nondeductible items	​	​	​	​	​	​
Non-controlling interest	​	​	(1,848)	​	(1.88)	%
Income at OpCo	​	​	(18,805)	​	(19.12)	%
Other, net	​	​	522	​	0.53	%
Effective tax rate	​	$	(1,304)	​	(1.33)	%

(1) State taxes in Louisiana made up the majority of the tax effect in this category.

​

​	​	​	​	​	​	​	​	​
​	​	Year Ended December 31,
​	​	2024			​	2023
​	​	(In thousands, except percentage values)
Net income before taxes	​	$	10,299	​	​	$	86,772	​
Statutory rate	​	​	21	%	​	​	21	%
Income tax provision computed at statutory rate	​	​	2,163	​	​	​	18,222	​
Reconciling items:	​	​	​	​	​	​	​	​
State income taxes	​	​	(1,377)	​	​	​	1,393	​
Non-controlling interest	​	​	435	​	​	​	(3,519)	​
Income at OpCo	​	​	(2,597)	​	​	​	(14,703)	​
Percentage depletion in excess of basis	​	​	(464)	​	​	​	—	​
Change in valuation allowance, federal	​	​	(2)	​	​	​	2,860	​
Change in valuation allowance, state	​	​	1,038	​	​	​	(96)	​
Other, net	​	​	33	​	​	​	(391)	​
Income tax (benefit) expense	​	$	(771)	​	​	$	3,766	​

Schedule of components of deferred tax assets and liabilities

​

​	​	​	​	​	​	​	​	​	​
​	​	Year Ended December 31,
​	​	2025		​	2024		​	2023
​	​	(In thousands)
Deferred tax asset	​	​		​	​		​	​
Outside basis in OpCo	​	$	19,372	​	$	17,826	​	$	22,625
Net operating loss carryforward	​	​	2,710	​	​	—	​	​	—
State tax benefit	​	​	2,450	​	​	1,424	​	​	386
Business interest deduction limitation	​	​	—	​	​	6,172	​	​	1,376
Deferred tax asset	​	​	24,532	​	​	25,422	​	​	24,387
Valuation allowance, federal	​	​	(22,082)	​	​	(23,998)	​	​	(24,001)
Valuation allowance, state	​	​	(2,450)	​	​	(1,424)	​	​	(386)
Net deferred tax asset	​	$	—	​	$	—	​	$	—

Schedule of income taxes paid net of refunds

​

​	​	​	​
​	​	Year Ended December 31,
​	​	2025
​	​	(In thousands)
Supplemental cash flow information:	​	​	​
Cash paid for taxes - federal, net of refunds	​	$	(2,112)
Cash paid for taxes - state, net of refunds	​	​	(1,816)
Total cash paid for taxes, net of refunds	​	$	(3,928)

X

- References

No definition available.

+ Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of supplemental cash flow information for the periods presented.

+ References

No definition available.

+ Details

Name:	us-gaap_ScheduleOfCashFlowSupplementalDisclosuresTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-9

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-2

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration