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Note 7 - Equity Investment

9 Months Ended

Sep. 30, 2023

Notes to Financial Statements

Equity Method Investments and Joint Ventures Disclosure [Text Block]

7.    Equity Investment 

The Partnership accounts for its 49% investment in Sisecam Wyoming using the equity method of accounting. Activity related to this investment is as follows: 

		For the Three Months Ended September 30,								For the Nine Months Ended September 30,
(In thousands)		2023				2022				2023				2022
Balance at beginning of period		$	290,900			$	280,300			$	306,470			$	276,004
Income allocation to NRP’s equity interests (1)			13,608				15,732				62,184				47,601
Amortization of basis difference			(1,207	)			(1,176	)			(3,551	)			(3,565	)
Other comprehensive income (loss)			2,200				289				(16,472	)			(1,179	)
Distribution			(23,010	)			(10,339	)			(66,140	)			(34,055	)
Balance at end of period		$	282,491			$	284,806			$	282,491			$	284,806

⁽¹⁾ Amounts reclassified into income out of accumulated other comprehensive loss were $0.9 million and $(1.2) million for the three months ended September 30, 2023 and 2022, respectively, and $(17.4) million and $(5.7) million for the nine months ended September 30, 2023 and 2022, respectively. 

The following table represents summarized financial information for Sisecam Wyoming as derived from their respective unaudited financial statements for the three and nine months ended September 30, 2023 and 2022:

		For the Three Months Ended September 30,								For the Nine Months Ended September 30,
(In thousands)		2023				2022				2023				2022
Net sales		$	180,232			$	190,450			$	588,725			$	542,955
Gross profit			34,454				39,679				148,063				119,723
Net income			27,772				32,105				126,906				97,144

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- Definition

The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481687/323-10-50-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481687/323-10-50-3

Reference 3: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Topic 323
-SubTopic 740
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481543/323-740-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 323
-Publisher FASB
-URI https://asc.fasb.org//323/tableOfContent

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