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Note 6 - Segment Information | 9 Months Ended
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Sep. 30, 2023
Notes to Financial Statements |
Segment Reporting Disclosure [Text Block] | 6. Segment Information The Partnership's segments are strategic business units that offer distinct products and services to different customers in different geographies within the U.S. and that are managed accordingly. NRP has the following two operating segments: Mineral Rights—consists of mineral interests and other subsurface rights across the United States. NRP's ownership provides critical inputs for the manufacturing of steel, electricity and basic building materials, as well as opportunities for carbon sequestration and renewable energy. The Partnership is working to strategically redefine its business as a key player in the transitional energy economy in the years to come. Soda Ash—consists of the Partnership's 49% non-controlling equity interest in Sisecam Wyoming, a trona ore mining operation and soda ash refinery in the Green River Basin of Wyoming. Sisecam Wyoming mines trona and processes it into soda ash that is sold both domestically and internationally to the glass and chemicals industries. Direct segment costs and certain other costs incurred at the corporate level that are identifiable and that benefit the Partnership's segments are allocated to the operating segments accordingly. These allocated costs generally include salaries and benefits, insurance, property taxes, legal, royalty, information technology and shared facilities services and are included in operating and maintenance expenses on the Partnership's Consolidated Statements of Comprehensive Income. Corporate and Financing includes functional corporate departments that do not earn revenues. Costs incurred by these departments include interest and financing, corporate headquarters and overhead, centralized treasury, legal and accounting and other corporate-level activity not specifically allocated to a segment and are included in general and administrative expenses on the Partnership's Consolidated Statements of Comprehensive Income. The following table summarizes certain financial information for each of the Partnership's business segments:
|  | Operating Segments |  |  |  |  |  |  |  |  |
(In thousands) |  | Mineral Rights |  |  | Soda Ash |  |  | Corporate and Financing |  |  | Total |
For the Three Months Ended September 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  | $ | 73,112 |  |  | $ | 12,401 |  |  | $ | — |  |  | $ | 85,513 |
Gain on asset sales and disposals |  |  | 854 |  |  |  | — |  |  |  | — |  |  |  | 854 |
Operating and maintenance expenses |  |  | 8,305 |  |  |  | 53 |  |  |  | — |  |  |  | 8,358 |
Depreciation, depletion and amortization |  |  | 4,589 |  |  |  | — |  |  |  | 5 |  |  |  | 4,594 |
General and administrative expenses |  |  | — |  |  |  | — |  |  |  | 5,669 |  |  |  | 5,669 |
Asset impairments |  |  | 63 |  |  |  | — |  |  |  | — |  |  |  | 63 |
Other expenses, net |  |  | — |  |  |  | — |  |  |  | 3,837 |  |  |  | 3,837 |
Net income (loss) |  |  | 61,009 |  |  |  | 12,348 |  |  |  | (9,511 | ) |  |  | 63,846 |
For the Three Months Ended September 30, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  | $ | 87,348 |  |  | $ | 14,556 |  |  | $ | — |  |  | $ | 101,904 |
Gain on asset sales and disposals |  |  | 354 |  |  |  | — |  |  |  | — |  |  |  | 354 |
Operating and maintenance expenses |  |  | 7,867 |  |  |  | 31 |  |  |  | — |  |  |  | 7,898 |
Depreciation, depletion and amortization |  |  | 6,850 |  |  |  | — |  |  |  | — |  |  |  | 6,850 |
General and administrative expenses |  |  | — |  |  |  | — |  |  |  | 4,518 |  |  |  | 4,518 |
Asset impairments |  |  | 812 |  |  |  | — |  |  |  | — |  |  |  | 812 |
Other expenses, net |  |  | — |  |  |  | — |  |  |  | 7,625 |  |  |  | 7,625 |
Net income (loss) |  |  | 72,173 |  |  |  | 14,525 |  |  |  | (12,143 | ) |  |  | 74,555 |
For the Nine Months Ended September 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  | $ | 217,258 |  |  | $ | 58,633 |  |  | $ | — |  |  | $ | 275,891 |
Gain on asset sales and disposals |  |  | 955 |  |  |  | — |  |  |  | — |  |  |  | 955 |
Operating and maintenance expenses |  |  | 23,226 |  |  |  | 225 |  |  |  | — |  |  |  | 23,451 |
Depreciation, depletion and amortization |  |  | 12,455 |  |  |  | — |  |  |  | 14 |  |  |  | 12,469 |
General and administrative expenses |  |  | — |  |  |  | — |  |  |  | 17,157 |  |  |  | 17,157 |
Asset impairments |  |  | 132 |  |  |  | — |  |  |  | — |  |  |  | 132 |
Other expenses, net |  |  | — |  |  |  | — |  |  |  | 10,182 |  |  |  | 10,182 |
Net income (loss) |  |  | 182,400 |  |  |  | 58,408 |  |  |  | (27,353 | ) |  |  | 213,455 |
For the Nine Months Ended September 30, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  | $ | 247,172 |  |  | $ | 44,036 |  |  | $ | — |  |  | $ | 291,208 |
Gain on asset sales and disposals |  |  | 699 |  |  |  | — |  |  |  | — |  |  |  | 699 |
Operating and maintenance expenses |  |  | 25,884 |  |  |  | 105 |  |  |  | — |  |  |  | 25,989 |
Depreciation, depletion and amortization |  |  | 16,565 |  |  |  | — |  |  |  | — |  |  |  | 16,565 |
General and administrative expenses |  |  | — |  |  |  | — |  |  |  | 14,037 |  |  |  | 14,037 |
Asset impairments |  |  | 874 |  |  |  | — |  |  |  | — |  |  |  | 874 |
Other expenses, net |  |  | — |  |  |  | — |  |  |  | 29,168 |  |  |  | 29,168 |
Net income (loss) |  |  | 204,548 |  |  |  | 43,931 |  |  |  | (43,205 | ) |  |  | 205,274 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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