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Note 2 - Revenues From Contracts With Customers | 3 Months Ended
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Mar. 31, 2025
Notes to Financial Statements |
Revenue from Contract with Customer [Text Block] | 2. Revenues from Contracts with Customers The following table presents the Partnership's Mineral Rights segment revenues from contracts with customers by major source:
|  | For the Three Months Ended March 31, |
(In thousands) |  | 2025 |  |  | 2024 |
Coal royalty revenues |  | $ | 35,498 |  |  | $ | 46,818 |
Production lease minimum revenues |  |  | 2,725 |  |  |  | 924 |
Minimum lease straight-line revenues |  |  | 4,050 |  |  |  | 4,171 |
Oil and gas royalty revenues |  |  | 2,444 |  |  |  | 3,640 |
Carbon neutral revenues |  |  | 595 |  |  |  | 2,161 |
Property tax revenues |  |  | 1,637 |  |  |  | 1,892 |
Wheelage revenues |  |  | 1,738 |  |  |  | 2,672 |
Coal overriding royalty revenues |  |  | 880 |  |  |  | 1,169 |
Lease amendment revenues |  |  | 655 |  |  |  | 702 |
Aggregates royalty revenues |  |  | 853 |  |  |  | 772 |
Other revenues |  |  | 185 |  |  |  | 653 |
Royalty and other mineral rights revenues |  | $ | 51,260 |  |  | $ | 65,574 |
Transportation and processing services revenues |  |  | 3,885 |  |  |  | 2,836 |
Total Mineral Rights segment revenues from contracts with customers |  | $ | 55,145 |  |  | $ | 68,410 |
The following table details the Partnership's Mineral Rights segment contract assets and liabilities resulting from contracts with customers:
|  | March 31, |  |  | December 31, |
(In thousands) |  | 2025 |  |  | 2024 |
Contract assets |  |  |  |  |  |  |  |
Accounts receivable, net |  | $ | 27,235 |  |  | $ | 27,358 |
Other current assets, net |  |  | 815 |  |  |  | — |
Other long-term assets, net |  |  | 1,139 |  |  |  | 2,352 |
Contract liabilities |  |  |  |  |  |  |  |
Accounts payable |  | $ | 175 |  |  | $ | 125 |
Current portion of deferred revenue |  |  | 4,949 |  |  |  | 4,341 |
Deferred revenue |  |  | 51,979 |  |  |  | 55,814 |
The following table shows the activity related to the Partnership's Mineral Rights segment deferred revenue resulting from contracts with customers:
|  | For the Three Months Ended March 31, |
(In thousands) |  | 2025 |  |  | 2024 |
Balance at beginning of period (current and non-current) |  | $ | 60,155 |  |  | $ | 42,955 |
Increase due to minimums and lease amendment fees |  |  | 5,861 |  |  |  | 6,979 |
Recognition of previously deferred revenue |  |  | (9,088 | ) |  |  | (5,951 | )
Balance at end of period (current and non-current) |  | $ | 56,928 |  |  | $ | 43,983 |
The Partnership's non-cancellable annual minimum payments due under the lease terms of its coal and aggregates royalty contracts with customers are as follows as of March 31, 2025 (in thousands):
Lease Term (1) |  | Weighted Average Remaining Years |  |  | Annual Minimum Payments |
0 - 5 years |  |  | 2.2 |  |  | $ | 13,244 |
5 - 10 years |  |  | 5.0 |  |  |  | 16,900 |
10+ years |  |  | 11.0 |  |  |  | 26,309 |
Total |  |  | 7.1 |  |  | $ | 56,453 |
(1) | Lease term does not include renewal periods.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-7 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
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