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Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues and other income        
Equity in earnings of Sisecam Wyoming $ 12,401 $ 14,556 $ 58,633 $ 44,036
Gain on asset sales and disposals 854 354 955 699
Total revenues and other income 86,367 102,258 276,846 291,907
Operating expenses        
Operating and maintenance expenses 8,358 7,898 23,451 25,989
Depreciation, depletion and amortization 4,594 6,850 12,469 16,565
General and administrative expenses 5,669 4,518 17,157 14,037
Asset impairments 63 812 132 874
Total operating expenses 18,684 20,078 53,209 57,465
Income from operations 67,683 82,180 223,637 234,442
Other expenses, net        
Interest expense, net (3,837) (5,141) (10,182) (22,636)
Loss on extinguishment of debt 0 (2,484) 0 (6,532)
Total other expenses, net (3,837) (7,625) (10,182) (29,168)
Net income 63,846 [1] 74,555 213,455 205,274
Less: income attributable to preferred unitholders (2,936) (7,500) (14,568) (22,500)
Less: redemption of preferred units (17,083) 0 (60,929) 0
Net income attributable to common unitholders and the general partner 43,827 67,055 137,958 182,774
Net income attributable to common unitholders 42,951 65,714 135,199 179,119
Net income attributable to the general partner $ 876 $ 1,341 $ 2,759 $ 3,655
Net income per common unit (see Note 5)        
Basic (in dollars per share) $ 3.4 $ 5.25 $ 10.72 $ 14.36
Diluted (in dollars per share) $ 2.91 $ 3.71 $ 8.88 $ 10.24
Net income $ 63,846 [1] $ 74,555 $ 213,455 $ 205,274
Comprehensive income (loss) from unconsolidated investment and other 2,200 289 (16,472) (1,179)
Comprehensive income 66,046 74,844 196,983 204,095
Mineral Rights Segment [Member]        
Operating expenses        
Depreciation, depletion and amortization 4,100 6,400 11,600 15,500
Royalty and Other Mineral Rights [Member] | Mineral Rights Segment [Member]        
Revenues and other income        
Revenues 68,533 81,379 205,811 231,795
Transportation and Processing Services [Member] | Mineral Rights Segment [Member]        
Revenues and other income        
Revenues [2] $ 4,579 $ 5,969 $ 11,447 $ 15,377
[1] Net income includes $2.9 million of income attributable to preferred unitholders that accumulated during the period, of which $2.9 million is allocated to the common unitholders and $0.1 million is allocated to the general partner.
[2] Transportation and processing services revenues from contracts with customers as defined under ASC 606 was $3.9 million and $4.9 million for the three months ended September 30, 2023 and 2022, respectively and $9.5 million and $12.9 million for the nine months ended September 30, 2023 and 2022, respectively. The remaining transportation and processing services revenues of $0.6 million and $1.1 million for the three months ended September 30, 2023 and 2022, respectively, and $1.9 million and $2.5 million for the nine months ended September 30, 2023 and 2022, respectively, related to other NRP-owned infrastructure leased to and operated by third-party operators accounted for under other guidance. See Note 15. Financing Transaction for more information.