INTREPID POTASH, INC., 10-K filed on 3/5/2026
Annual Report
v3.25.4
Cover Page - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Feb. 28, 2026
Jun. 30, 2025
Document Information [Line Items]      
Document Type 10-K    
Document Annual Report true    
Current Fiscal Year End Date --12-31    
Document Period End Date Dec. 31, 2025    
Document Transition Report false    
Entity File Number 001-34025    
Entity Registrant Name INTREPID POTASH, INC.    
Entity Central Index Key 0001421461    
Amendment Flag false    
Document Financial Statement Error Correction [Flag] false    
Document Fiscal Year Focus 2025    
Document Fiscal Period Focus FY    
Entity Incorporation, State or Country Code DE    
Entity Tax Identification Number 26-1501877    
Entity Address, Address Line One 707 17th Street, Suite 4200    
Entity Address, City or Town Denver,    
Entity Address, State or Province CO    
Entity Address, Postal Zip Code 80202    
City Area Code 303    
Local Phone Number 296-3006    
Title of 12(b) Security Common Stock, par value $0.001 per share    
Trading Symbol IPI    
Security Exchange Name NYSE    
Entity Well-known Seasoned Issuer No    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
ICFR Auditor Attestation Flag true    
Entity Shell Company false    
Entity Public Float     $ 460
Entity Common Stock, Shares Outstanding   13,406,913  
Documents Incorporated by Reference
Certain information required by Part III of this report is incorporated by reference from portions of the registrant's definitive proxy statement relating to its 2026 annual meeting of stockholders to be filed within 120 days after December 31, 2025.
    
v3.25.4
Audit Information
 12 Months Ended
Dec. 31, 2025
Auditor [Line Items]  
Auditor Location Denver, Colorado
Auditor Name KPMG LLP
Auditor Firm ID 185
v3.25.4
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
ASSETS    
Cash and cash equivalents $ 83,537 $ 41,309
Short-term investments 0 989
Accounts receivable:    
Trade, net 33,776 22,465
Other receivables, net 159 763
Inventory, net 112,305 112,968
Other current assets 5,355 5,269
Total current assets 235,132 183,763
Property, plant, equipment, and mineral properties, net 334,773 344,338
Water rights 19,184 19,184
Long-term parts inventory, net 31,506 33,775
Long-Term Investments 179 3,571
Other assets, net 11,405 9,889
Total Assets 632,179 594,520
LIABILITIES AND STOCKHOLDERS' EQUITY    
Accounts payable 9,844 8,616
Accrued liabilities 10,596 9,483
Accrued employee compensation and benefits 12,651 9,842
Other current liabilities 20,564 10,062
Total current liabilities 53,655 38,003
Asset retirement obligation 38,841 32,354
Operating lease liabilities 1,550 780
Finance lease liabilities 1,741 1,838
Deferred other income, long-term 43,233 45,489
Other non-current liabilities 1,730 1,664
Total Liabilities 140,750 120,128
Commitments and Contingencies
Common stock, $0.001 par value; 40,000,000 shares authorized; and 13,131,663 and 12,908,078 shares outstanding at December 31, 2025, and 2024, respectively 14 14
Additional paid-in capital 674,297 668,445
Accumulated deficit (160,870) (172,055)
Less treasury stock, at cost (22,012) (22,012)
Total Stockholders' Equity 491,429 474,392
Total Liabilities and Stockholders' Equity $ 632,179 $ 594,520
v3.25.4
CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares
Dec. 31, 2025
Dec. 31, 2024
Statement of Financial Position [Abstract]    
Common stock, par value (in dollars per share) $ 0.001 $ 0.001
Common stock, shares authorized 40,000,000 40,000,000
Common stock, shares outstanding 13,131,663 12,908,078
Common stock shares issued not disclosed false false
v3.25.4
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Sales [1] $ 298,328 $ 254,694 $ 279,083
Less:      
Lower of cost or net realizable value inventory adjustments 4,442 3,957 6,492
Gross Margin 54,816 29,082 36,846
Selling and administrative 36,705 32,966 32,423
Accretion of asset retirement obligation 2,603 2,489 2,140
Impairment of long-lived assets 1,866 10,708 43,288
(Gain) loss on sale or disposal of assets (1,175) 1,952 807
Other operating income (4,811) (5,215) (1,329)
Other operating expense 8,963 6,040 3,486
Operating Income (Loss) 10,665 (19,858) (43,969)
Other Income (Expense)      
Equity in loss of unconsolidated entities (374) (299) (486)
Interest expense, net (232) (112) 0
Interest income 2,432 1,712 298
Other (expense) income (762) 45 95
Income (Loss) Before Income Taxes 11,729 (18,512) (44,062)
Income Tax (Expense) Benefit (544) (194,333) 8,389
Net Income (Loss) $ 11,185 $ (212,845) $ (35,673)
Weighted Average Shares Outstanding:      
Basic (in shares) 13,014,205 12,880,026 12,760,937
Diluted (in shares) 13,174,001 12,880,026 12,760,937
Earnings (Loss) Per Share:      
Basic (dollar per share) $ 0.86 $ (16.53) $ (2.80)
Diluted (dollar per share) $ 0.85 $ (16.53) $ (2.80)
Mineral [Member]      
Cost of goods sold $ 178,578 $ 171,415 $ 187,278
Freight costs [Member]      
Cost of goods sold 48,277 38,765 37,635
Warehouse and handling costs [Member]      
Cost of goods sold $ 12,215 $ 11,475 $ 10,832
[1] Segment sales include the sales of byproducts generated during the production of potash and Trio®.
v3.25.4
CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY - USD ($)
$ in Thousands
Total
Common Stock [Member]
Treasury Stock [Member]
Additional Paid-in Capital [Member]
Retained Earnings (Accumulated Deficit)[Member]
Balance (in shares) at Dec. 31, 2022   12,687,822      
Balance at Dec. 31, 2022 $ 715,078 $ 13 $ (22,012) $ 660,614 $ 76,463
Increase (Decrease) in Stockholders' Equity          
Net Income (Loss) (35,673)       (35,673)
Stock-based compensation $ 6,534     6,534  
Purchase of treasury stock (shares) 0        
Vesting of restricted shares, net of common stock used to fund employee income tax withholding due upon vesting (shares)   119,494      
Vesting of restricted common stock, net of restricted common stock used to fund employee income tax withholding due upon vesting $ (1,511)     (1,511)  
Balance (in shares) at Dec. 31, 2023   12,807,316      
Balance at Dec. 31, 2023 684,428 $ 13 (22,012) 665,637 40,790
Increase (Decrease) in Stockholders' Equity          
Net Income (Loss) (212,845)       (212,845)
Stock-based compensation $ 3,583     3,583  
Purchase of treasury stock (shares) 0        
Vesting of restricted shares, net of common stock used to fund employee income tax withholding due upon vesting (shares)   100,762      
Vesting of restricted shares, net of common stock used to fund employee income tax withholding due upon vesting   $ 1      
Vesting of restricted common stock, net of restricted common stock used to fund employee income tax withholding due upon vesting $ (774)     (775)  
Balance (in shares) at Dec. 31, 2024 12,908,078 12,908,078      
Balance at Dec. 31, 2024 $ 474,392 $ 14 (22,012) 668,445 (172,055)
Increase (Decrease) in Stockholders' Equity          
Net Income (Loss) 11,185       11,185
Stock-based compensation $ 5,085     5,085  
Purchase of treasury stock (shares) 0        
Vesting of restricted shares, net of common stock used to fund employee income tax withholding due upon vesting (shares)   107,592      
Vesting of restricted common stock, net of restricted common stock used to fund employee income tax withholding due upon vesting $ (1,075)     (1,075)  
Exercise of stock options (in shares)   115,993      
Exercise of stock option $ 1,842     1,842  
Balance (in shares) at Dec. 31, 2025 13,131,663 13,131,663      
Balance at Dec. 31, 2025 $ 491,429 $ 14 $ (22,012) $ 674,297 $ (160,870)
v3.25.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Adjustments to reconcile net (loss) income to net cash provided by operating activities:      
Net income (loss) $ 11,185 $ (212,845) $ (35,673)
Depreciation, depletion, and amortization 40,241 37,361 39,078
Amortization of intangible assets 328 328 322
Accretion of asset retirement obligation 2,603 2,489 2,140
Amortization of deferred financing costs 301 301 301
Stock-based compensation 5,085 3,583 6,534
Reserve for obsolescence 2,422 1,843 509
Allowance for doubtful accounts 62 120 110
Impairment of long-lived assets 1,866 10,708 43,288
(Gain) loss on sale or disposal of assets (1,175) 1,952 807
Loss on equity investment 888 266 0
Equity in earnings of unconsolidated entities 374 299 486
Distribution of earnings from unconsolidated entities 0 0 452
Lower of cost or net realizable value inventory adjustments 4,442 3,957 6,492
Changes in operating assets and liabilities:      
Trade accounts receivable, net (11,373) (508) 4,550
Other receivables, net 593 642 (701)
Inventory, net (3,932) (10,833) (11,861)
Other current assets (2,214) (362) (3,857)
Deferred tax assets, net 0 194,223 (8,471)
Accounts payable, accrued liabilities and accrued employee compensation and benefits 4,724 (3,519) (3,716)
Operating lease liabilities (1,111) (1,419) (1,735)
Deferred other income (2,256) 42,744 5,000
Other liabilities 2,726 1,165 (826)
Net cash provided by operating activities 55,779 72,495 43,229
Cash Flows from Investing Activities:      
Additions to property, plant, equipment, mineral properties and other assets (30,239) (38,706) (65,060)
Deposit received 8,000 0 0
Additions to intangible Assets 0 (200) 0
Proceeds from sale of property, plant, equipment, and mineral properties 5,844 4,839 125
Purchase of investments 0 0 (1,415)
Proceeds from redemptions/maturities of investments 1,000 3,000 6,000
Other investing, net 2,129 1,536 796
Net cash used in investing activities (13,266) (29,531) (59,554)
Cash Flows from Financing Activities:      
Proceeds from borrowings on credit facility 0 0 9,000
Repayments of borrowings on credit facility 0 (4,000) (5,000)
Payments of financing leases (1,043) (942) (597)
Employee tax withholding paid for restricted stock upon vesting (1,075) (775) (1,511)
Proceeds from exercise of stock options 1,842 0 0
Net cash (used in) provided by financing activities (276) (5,717) 1,892
Net Change in Cash, Cash Equivalents, and Restricted Cash 42,237 37,247 (14,433)
Cash, Cash Equivalents, and Restricted Cash, beginning of period 41,898 4,651 19,084
Cash, Cash Equivalents, and Restricted Cash, end of period 84,135 41,898 4,651
Supplemental disclosure of cash flow information      
Interest 463 503 411
Income taxes 487 9 179
Accrued purchases for property, plant, equipment, mineral properties, and development costs $ 2,304 $ 1,877 $ 4,578
v3.25.4
COMPANY BACKGROUND
 12 Months Ended
Dec. 31, 2025
Company Background [Abstract]  
COMPANY BACKGROUND COMPANY BACKGROUND
We are a diversified mineral company that delivers potassium, magnesium, sulfur, salt, and water products essential for customer success in agriculture, animal feed and the oil and gas industry. We are the only U.S. producer of muriate of potash (sometimes referred to as potassium chloride or potash), which is applied as an essential nutrient for healthy crop development, utilized in several industrial applications, and used as an ingredient in animal feed. In addition, we produce a specialty fertilizer, Trio®, which delivers three key nutrients, potassium, magnesium, and sulfate, in a single particle. We also provide water, magnesium chloride, brine and various oilfield products and services.
Our extraction and production operations are conducted entirely in the continental U.S. We produce potash from three solution mining facilities: our HB solution mine in Carlsbad, New Mexico, our solution mine in Moab, Utah, and our brine recovery mine in Wendover, Utah. We also operate our North compaction facility in Carlsbad, New Mexico, which compacts and granulates product from the HB mine. We produce Trio® from our conventional underground East mine in Carlsbad, New Mexico.
    We have permitted, licensed, declared and partially adjudicated water rights in New Mexico. We sell a portion of water from these water rights to support oil and gas development in the Permian Basin.
We also have certain land, water rights, federal grazing leases, and other related assets in southeast New Mexico. We refer to these assets and operations as "Intrepid South." Due to the strategic location of Intrepid South, part of our long-term operating strategy is selling small parcels of land, including restricted use agreements of surface or subsurface rights, to customers, where such sales provide a solution to a customer's operations in the oil and gas industry.
    We have three segments: potash, Trio®, and oilfield solutions. We account for the sales of byproducts as revenue in the potash or Trio® segment, based on which segment generates the byproduct. For each of the years ended December 31, 2025, 2024, and 2023, a majority of our byproduct sales were accounted for in the potash segment.
We manage sales and marketing operations centrally. This allows us to evaluate the product needs of our customers and then centrally determine which of our production facilities to use to fill customer orders in a manner designed to realize the highest average net realized sales price per ton. Average net realized sales price per ton is a non-GAAP measure that we calculate for each of potash and Trio® as segment sales less segment byproduct sales and segment freight costs, divided by the number of tons of product sold in the period. We also monitor product inventory levels and overall production costs centrally.
v3.25.4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
 12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation—Our consolidated financial statements include our accounts and those of our wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.
Use of Estimates—The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities as of the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. We base our estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Accordingly, actual results may differ significantly from these estimates under different assumptions or conditions.
    Significant estimates include, but are not limited to, those for proven and probable mineral reserves, the related present value of estimated future net cash flows, useful lives of plant assets, asset retirement obligations, normal inventory production levels, inventory valuations, the valuation of equity awards, revenue from products we sell to customers where the price is variable, the valuation of receivables, estimated future net cash flows used in long-lived assets impairment analysis, the related valuation of our long-lived assets, valuation of our deferred tax assets and estimated blended income tax rates utilized in the current and deferred income tax calculations. There are numerous uncertainties inherent in estimating quantities of proven and probable reserves, projecting future rates of production, and the timing of development expenditures. Future mineral prices may vary significantly from the prices in effect at the time the estimates are made, as may estimates of future operating costs. The estimate of proven and probable mineral reserves, the related present value of estimated future cash flows, and useful lives of plant assets can affect various other items including depletion, the net carrying value of our
mineral properties, the useful lives of related property, plant, and equipment, depreciation expense, and estimates associated with recoverability of long-lived assets and asset retirement obligations. Specific to income tax items, we experience fluctuations in the valuation of the deferred tax assets and liabilities due to changing income tax rates and the blend of state tax rates.
Revenue Recognition—We account for revenue in accordance with Accounting Standards Codification ("ASC") Topic 606 Revenue from Contracts with Customers ("ASC 606"). Under ASC 606, we recognize revenue when control of the promised goods or services is transferred to customers in an amount that reflects the consideration we expect to be entitled in exchange for those goods or services.
Performance Obligations: A performance obligation is a promise in a contract to transfer a distinct good or service to the customer and is the unit of account in ASC 606. The contract's transaction price is allocated to the performance obligations and recognized as revenue when the performance obligations are satisfied. Substantially all our contracts are of a short-term nature and contain a single performance obligation because the sale is for one type of product and shipping and handling charges are accounted for as a fulfillment cost and are not considered to be a separate performance obligation. The performance obligation is satisfied when control of the product is transferred to the customer, which typically occurs when we ship mineral products or deliver water from our facility to the customer. We account for substantially all of our revenue from sales to customers at a single point in time.
Contract Estimates: In certain circumstances, we may sell products to customers where the sales price is variable. For variable consideration sales, we estimate the sales price we expect to realize at contract inception based on the facts and circumstances for each sale, including historical experience, and recognize revenue to the extent it is probable that a subsequent change in estimate will not result in a significant revenue reversal compared to the cumulative revenue recognized once the uncertainty is resolved. We update variable consideration estimates at each reporting date for any changes in facts and circumstances and adjust financial information as necessary in the period the change is identified.
Contract Balances: The timing of revenue recognition, billings, and cash collection may result in contract assets or contract liabilities. For certain contracts, the customer has agreed to pay us before we have satisfied our performance obligations. Customer payments received before we have satisfied our performance obligations are accounted for as a contract liability.
Disaggregation of Revenue: We present disaggregation of revenue by products which we believe best depicts how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic conditions.
Inventory and Long-Term Parts Inventory—Inventory consists of product and byproduct stocks that are ready for sale; mined ore; potash in evaporation ponds, which is considered work-in-process; and parts and supplies inventory. Product and byproduct inventory cost is determined using the lower of weighted average cost or estimated net realizable value and includes direct costs, maintenance, operational overhead, depreciation, depletion, and equipment lease costs applicable to the production process. Direct costs, maintenance, and operational overhead include labor and associated benefits.
We evaluate our production levels and costs to determine if any should be deemed abnormal and therefore excluded from inventory costs and expensed directly during the applicable period. The assessment of normal production levels is judgmental and unique to each period. We model normal production levels and evaluate historical ranges of production by operating plant in assessing what is deemed to be normal. Each production operation typically shuts down periodically for planned maintenance activities. The costs of maintenance turnarounds at our facilities are considered part of production costs and are absorbed into inventory in the period incurred.
    Parts inventory, including critical spares not expected to be used within a period of one year, is classified as non-current. Parts and supply inventory cost is determined using the lower of average acquisition cost or net realizable value. Detailed reviews are performed related to the net realizable value of parts inventory, giving consideration to quality, slow-moving items, obsolescence, excessive levels, and other factors. Parts inventories that have not turned over in more than a year, excluding parts classified as critical spares, are reviewed for obsolescence and, if deemed appropriate, are included in the determination of an allowance for obsolescence.
Property, Plant, Equipment, Mineral Properties, and Development Costs—Property, plant, and equipment are stated at historical cost. Expenditures for property, plant, and equipment relating to new assets or improvements are capitalized, provided the expenditure extends the useful life of an asset or extends the asset's functionality. Property, plant, and equipment are depreciated under the straight-line method using estimated useful lives. The estimated useful lives of property, plant, and equipment are evaluated periodically as changes in estimates occur. No depreciation is taken on assets classified as construction in progress until the asset is placed into service. Gains and losses are recorded upon retirement, sale, or disposal of assets. Maintenance and repair costs are recognized as period costs when incurred. Capitalized interest, to the
extent of debt outstanding, is calculated and capitalized on assets that are being constructed, drilled, or built or that are otherwise classified as construction in progress.
Mineral properties and development costs, which are referred to collectively as mineral properties, include acquisition costs, the cost of drilling production wells, and the cost of other development work, all of which are capitalized. Exploration costs include geological and geophysical work performed on areas that do not yet have proven and probable reserves declared. These costs are expensed as incurred. Depletion of mineral properties is calculated using the units-of-production method over the estimated product tons in the relevant ore body. The lives of reserves used for accounting purposes are shorter than current reserve life determinations due to uncertainties inherent in long-term estimates. These reserve life estimates have been prepared by us and reviewed and independently determined by mine consultants. Tons of potash and langbeinite in the proven and probable reserves are expressed in terms of expected finished tons of product to be realized, net of estimated losses. Market price fluctuations of potash or Trio®, as well as increased production costs or reduced recovery rates, could render proven and probable reserves containing relatively lower grades of mineralization uneconomic to exploit and might result in a reduction of reserves. In addition, the provisions of our mineral leases, including royalty provisions, are subject to periodic readjustment by the state and federal government, which could affect the economics of our reserve estimates. Significant changes in the estimated reserves could have a material impact on our results of operations and financial position.
Recoverability of Long-Lived Assets—We evaluate our long-lived assets for impairment when events or changes in circumstances indicate that the related carrying amount may not be recoverable. An impairment is potentially considered to exist if an asset group's total estimated net future cash flows on an undiscounted basis are less than the carrying amount of the related asset. An impairment loss is measured and recorded based on the excess of the carrying amount of long-lived assets over its estimated fair value. Changes in significant assumptions underlying future cash flow estimates or fair values of asset groups may have a material effect on our financial position and results of operations. Sales price is a significant element of any cash flow estimate, particularly for higher cost operations. Other assumptions we estimate include, among other things, the economic life of the asset, sales volume, inflation, raw materials costs, cost of capital, tax rates, and capital spending.
Factors we generally will consider important and which could trigger an impairment review of the carrying value of long-lived assets include the following:
•significant underperformance relative to expected operating results or operating losses
•significant changes in the manner of use of assets or the strategy for our overall business
•the denial or delay of necessary permits or approvals that would affect the utilization of our tangible assets
•underutilization of our tangible assets
•discontinuance of certain products by us or our customers
•a decrease in estimated mineral reserves
•significant negative industry or economic trends
Intangible Assets—Water rights are accounted for as indefinite-lived intangible assets. We test indefinite-lived intangible assets for impairment at least annually on October 1, and more frequently if circumstances require. We use a qualitative assessment to determine whether it is more likely than not that the fair value of the unamortized intangible asset is less than its carrying value. If our qualitative assessment indicates it is more likely than not that the fair value of the unamortized assets is less than its carrying value, we estimate the fair value of the unamortized asset and record an impairment loss based on the excess of the carrying amount of the unamortized intangible asset over its estimated fair value. Fair value is estimated using quoted market prices, if available. If quoted market prices are not available, the estimated fair value is based on various valuation techniques, including the discounted value of estimated future cash flows. Changes in significant assumptions underlying fair value estimates may have a material effect on our financial position and results of operations.
We also have finite-lived intangible assets consisting of contractual agreements. These intangible assets are amortized over the period of estimated benefit using the straight-line method. No significant residual value is estimated for our finite-lived intangible assets. We estimate the useful life of intangible assets considering various factors, including but not limited to, the expected use of the asset, the expected life of other assets the intangible asset may relate, any legal, regulatory, contractual provisions, or relevant economic factors that may limit the use of the intangible asset. We evaluate the remaining useful lives of intangible assets each reporting period to determine if a revision to the asset's remaining life is necessary. Changes in significant assumptions underlying useful lives may have a material effect on our financial position and results of operations.
We evaluate our finite-lived intangible assets for impairment when events or changes in circumstances indicate that the related carrying amount may not be recoverable. Such circumstances may include but are not limited to (1) significant
adverse changes in the manner the asset is used, or (2) significant adverse changes in legal factors or economic conditions, including adverse actions by regulatory authorities.
Asset Retirement Obligations—Reclamation costs are initially recorded as a liability associated with the asset to be reclaimed or abandoned, based on applicable inflation assumptions and discount rates. The accretion of this discounted liability is recognized as expense over the life of the related assets, and the liability is periodically adjusted to reflect changes in the estimates of either the timing or amount of the reclamation and abandonment costs.
Leases—We determine if an arrangement is a lease or contains a lease at inception. Operating and finance lease liabilities are recognized based on the present value of the remaining lease payments, discounted using the discount rate for the lease at the commencement date. If readily determinable, we use the implicit rate in the lease to determine the present value of future lease payments. If the implicit rate is not readily determinable, we use an incremental borrowing rate based on information available at the commencement date to determine the present value of future lease payments. Operating right-of-use ("ROU") assets and finance lease assets are generally recognized based on the amount of the initial measurement of the lease liability. Lease expense for operating lease payments is recognized on a straight-line basis over the lease term. For finance leases, interest expense is recognized on the lease liability and the ROU asset is amortized over the lease term. We account for lease and non-lease components as a single lease component, and we do not apply the requirements of ASC Topic 842 to short-term leases with a term of one year or less at inception.
Income Taxes—We are a subchapter C corporation and, therefore, are subject to U.S. federal and state income taxes. We recognize income taxes under the asset and liability method. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using the enacted tax rates expected to apply to taxable income in the periods in which the deferred tax liability or asset is expected to be settled or realized. We record a valuation allowance if it is deemed more likely than not that our deferred income tax assets will not be realized in full. These determinations are subject to ongoing assessment.
Cash and Cash Equivalents and Investments—Cash and cash equivalents consist of cash and liquid investments with an original maturity of three months or less.
We classify our investments in debt securities, which include U.S treasury and government agency obligations, and corporate bonds and notes, as held-to-maturity investments because we have the intent and ability to hold these investments to maturity. Our held to maturity investments are carried at amortized cost.
We use the equity method of accounting for investments in limited partnerships where we own more than 3% of the limited partnership, as required by the Securities and Exchange Commission. Under this method of accounting, we record our share of the net earnings or losses of the investee in the "Other Income (Expense)" section of our Consolidated Statements of Operations.
We record equity investments without a readily determinable fair value using the measurement alternative of cost, with adjustments for observable changes in prices resulting from orderly transactions for the identical or similar investments of the same issuer, or impairment.
Fair Value of Financial Instruments—Our financial instruments include cash and cash equivalents, restricted cash, accounts receivable, refundable income taxes, accounts payable and current accrued liabilities. These instruments are carried at cost, which approximates fair value due to the short-term maturities of the instruments. Allowances for doubtful accounts are recorded against the accounts receivable balance to estimate net realizable value. Amounts outstanding under our secured credit facility are carried at cost, which approximates fair value, due to the short-term nature of the borrowings.
Earnings per Share—Basic net income or loss per common share of stock is calculated by dividing net income or loss available to common stockholders by the weighted average basic common shares outstanding for the respective period.
Diluted net income per common share of stock is calculated by dividing net income or loss available to common stockholders by the weighted average diluted common shares outstanding, which includes the effect of potentially dilutive securities. Potentially dilutive securities for the diluted earnings or loss per share calculation consist of awards of restricted shares, performance units, and non‑qualified stock options. The dilutive effect of stock-based compensation arrangements is computed using the treasury‑stock method. Following the lapse of the vesting period of restricted shares, the shares are considered issued and therefore are included in the number of issued and outstanding shares for purposes of these calculations. When we report a net loss, all potentially dilutive securities are considered anti-dilutive and are excluded from the dilutive loss per share calculation.
Treasury Stock —Repurchases of our common stock are accounted for at cost and are recorded as treasury stock.
    Stock‑Based Compensation—We account for stock-based compensation by recording expense using the fair value of the awards at the time of grant. We have recorded compensation expense associated with the issuance of restricted shares, performance units, and non-qualified stock options, all of which are subject to service conditions and in some cases subject to operational performance or market-based conditions. We recognize expense associated with such awards over the service period associated with each grant. For awards with service only conditions we recognize expense using the straight-line recognition method over the requisite service period of the award, which is generally the vesting period of the award. We recognize expense for awards with service and operational performance conditions using the accelerated recognition method over the requisite service period of the award, which is generally the vesting period of the award. We recognize expense associated with awards that contain both a service condition and a market condition using the accelerated recognition method over the requisite service period of the award, which is generally the longer of the explicit service period or the derived service period (expected date the market condition is estimated to be achieved).
Recently Adopted Accounting Standards—In December 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2023-09, Improvements to Income Tax Disclosures, which requires that an entity, on an annual basis, disclose additional income tax information, including more detailed breakdowns of the effective tax rate to the statutory rate and income taxes paid. The amendment in the ASU is intended to enhance the transparency and decision usefulness of income tax disclosures. The guidance will be applied on a prospective basis with the option to apply the standard retrospectively and is effective for calendar year-end public business entities in the 2025 annual period and in 2026 for interim periods with early adoption permitted. We adopted the standard in our fiscal year 2025 annual financial statements prospectively. For additional information, refer to Note 14 Income Taxes, in our Consolidated Financial Statements.
Pronouncements Issued But Not Yet Adopted—In November 2024, the FASB issued ASU 2024-03, "Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40)" ("ASU 2024-03"). ASU 2024-03 requires additional disclosures about the nature of expenses included in the income statement, such as purchases of inventory, employee compensation and depreciation. ASU 2024-03 is effective for public business entities for annual periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. We are currently evaluating the guidance and expect it to only impact disclosures with no impact to results of operations, cash flows and financial condition.
In July 2025, the FASB issued ASU 2025-05, "Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets" ("ASU 2025-05"). ASU 2025 amends the guidance in ASC 326 to simplify the estimation of credit losses on current accounts receivable and current contract assets arising from transactions accounted for under ASC 606. The amendments allow all entities to elect a practical expedient to assume that the current conditions as of the balance sheet date will remain unchanged for the remaining life of the asset when developing a reasonable and supportable forecast as part of estimating expected credit losses on these assets. Entities are required to disclose their practical expedient and accounting policy elections. The amendments are effective for fiscal years beginning after December 15, 2025, and interim periods within those fiscal years. We are currently evaluating the guidance but do not expect adoption of ASU 2025-05 will have a material impact on our consolidated financial statements.
v3.25.4
EARNINGS PER SHARE
 12 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
EARNINGS PER SHARE EARNINGS PER SHARE
Basic earnings per share is computed by dividing net income or loss by the weighted-average number of shares of common stock outstanding during the period. For purposes of determining diluted earnings per share, basic weighted-average common shares outstanding is adjusted to include potentially dilutive securities, including restricted stock, stock options, and performance units. The treasury-stock method is used to measure the dilutive impact of potentially dilutive shares. Potentially dilutive shares are excluded from the diluted weighted-average shares outstanding computation in periods in which they have an anti-dilutive effect. The following table shows the calculation of basic and diluted earnings (loss) per share (in thousands, except per share amounts):
Year Ended December 31,
202520242023
Net income (loss) $11,185 $(212,845)$(35,673)
Basic weighted average common shares outstanding13,014 12,880 12,761 
Add: Dilutive effect restricted common stock120 — — 
Add: Dilutive effect of stock options outstanding38 — — 
Add: Dilutive effect of performance units2 — — 
Diluted weighted average common shares outstanding13,174 12,880 12,761 
Earnings (loss) per share:
Basic$0.86 $(16.53)$(2.80)
Diluted$0.85 $(16.53)$(2.80)

The following table shows anti-dilutive shares excluded from the calculation of diluted earnings (loss) per share (in thousands):
Year Ended December 31,
202520242023
Anti-dilutive effect of restricted shares and units186 287 348 
Anti-dilutive effect of stock options outstanding117 273 273 
v3.25.4
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH
 12 Months Ended
Dec. 31, 2025
Cash and Cash Equivalents [Abstract]  
Cash, Cash Equivalents, And Restricted Cash CASH, CASH EQUIVALENTS AND RESTRICTED CASH
    Total cash, cash equivalents and restricted cash, as shown on the consolidated statements of cash flows are included in the following accounts at December 31, 2025, 2024, and 2023 (in thousands):
Year Ended December 31,
202520242023
Cash and cash equivalents$83,537 $41,309 $4,071 
Restricted cash included in "Other current assets"25 25 25 
Restricted cash included in "Other assets, net"573 564 555 
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows$84,135 $41,898 $4,651 
     Restricted cash included in "Other assets, net" on the balance sheet at December 31, 2025, 2024, and 2023 represents amounts whose use is restricted by contractual agreements with the BLM or the states of Utah and New Mexico as security to fund future reclamation obligations at our sites. Restricted cash included in "Other current assets" on the Consolidated Balance Sheets at December 31, 2025, 2024, and 2023 represents cash deposits with supply vendors.
In December 2025, we received an $8.0 million cash deposit related to the potential sale of the majority of the assets of Intrepid South. As consideration for this deposit, we entered into an exclusivity agreement with the potential buyer. This deposit would be credited against the purchase price of the Intrepid South assets if a transaction is consummated. In the event we are unable to reach a definitive agreement or the buyer is unable to close in a timely manner, we may retain the deposit after the exclusivity period expires. There is no guarantee we will be successful in negotiating definitive agreements or that the transaction will be completed. If we are successful in negotiating definitive agreements, we expect this transaction would close in the first half of 2026. This potential transaction remains subject to approval by our Board of Directors. The $8.0 million deposit received is included in "Cash and cash equivalents" and in "Other current liabilities" on the Consolidated Balance Sheet at December 31, 2025.
v3.25.4
INVENTORY AND LONG-TERM PARTS INVENTORY
 12 Months Ended
Dec. 31, 2025
Inventory Disclosure [Abstract]  
INVENTORY AND LONG-TERM PARTS INVENTORY INVENTORY AND LONG-TERM PARTS INVENTORY
The following summarizes our inventory, recorded at the lower of weighted average cost or estimated net realizable value as of December 31, 2025, and 2024, respectively (in thousands):
December 31,
20252024
Finished goods product inventory$63,893 $68,197 
In-process inventory32,858 28,329 
Total product inventory96,751 96,526 
Current parts inventory, net15,554 16,442 
Total current inventory, net112,305 112,968 
Long-term parts inventory, net31,506 33,775 
Total inventory, net$143,811 $146,743 
During the year ended December 31, 2025, we recorded $4.4 million in charges for lower of weighted average cost or estimated net realizable value on our finished goods product inventory. During the year ended December 31, 2024, we recorded $4.0 million in charges for lower of weighted average cost or estimated net realizable value on our finished goods product inventory. During the year ended December 31, 2023, we recorded $6.5 million in charges for lower of weighted average cost or estimated net realizable value on our finished goods product inventory.
Parts inventories are shown net of any required allowances. During the years ended December 31, 2025, 2024, and 2023, we recorded reserves for obsolete parts inventory of $2.4 million, $1.8 million, and $0.5 million, respectively.
v3.25.4
PROPERTY, PLANT, EQUIPMENT AND MINERAL PROPERTIES
 12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
PROPERTY, PLANT, EQUIPMENT AND MINERAL PROPERTIES PROPERTY, PLANT, EQUIPMENT, AND MINERAL PROPERTIES
"Property, plant, equipment, and mineral properties, net" were comprised of the following (in thousands):
December 31,
20252024
Land$24,032 $24,136 
Ponds and land improvements98,639 95,787 
Mineral properties and development costs159,892 161,826 
Buildings and plant97,987 95,439 
Machinery and equipment331,545 318,545 
Vehicles8,885 8,152 
Office equipment and leasehold improvements10,164 10,613 
Operating lease ROU assets3,181 4,571 
Breeding stock223 277 
Construction in progress14,003 6,423 
Total property, plant, equipment, and mineral properties, gross$748,551 $725,769 
Less: accumulated depreciation, depletion, and amortization(413,778)(381,431)
Total property, plant, equipment, and mineral properties, net$334,773 $344,338 
We incurred the following expenses for depreciation, depletion, and amortization of ROU assets, including expenses capitalized into inventory, for the following periods (in thousands):
Year Ended December 31,
202520242023
Depreciation$33,938 $31,390 $34,307 
Depletion5,035 4,627 3,190 
Amortization of ROU assets1,268 1,344 1,581 
Total incurred$40,241 $37,361 $39,078 
During the years ended December 31, 2025, 2024, and 2023, we recorded total impairment charges of $1.9 million, $10.7 million, and $43.3 million in impairment charges, respectively, as discussed in more detail below.
In the fourth quarter of 2023, given the decrease in our gross margin for our Trio® segment we determined that sufficient indicators of potential impairment of our Trio® segment long-lived assets existed. We performed a recoverability test and determined that the carrying value of our Trio® segment long-lived assets was not recoverable. We engaged a third-party valuation firm to determine the fair value of our Trio® segment assets. The fair value of our Trio® segment assets was primarily determined using the expected proceeds received in an orderly sale of the individual assets. The carrying value of our Trio® segment asset group exceeded its fair value, and we recorded an impairment charge of $31.9 million during the fourth quarter of 2023. For any Trio® segment capital spending during 2025 and 2024, we also estimated the fair value of those assets using the expected proceeds received in an orderly sale of those new assets and recorded an impairment of $1.9 million and $4.4 million, respectively.
Our long-lived assets at our West facility have been in care and maintenance since July 2016. Given the length of time since the assets were placed in care and maintenance, we engaged a third-party valuation firm to determine if the fair value of the West assets supports the carrying value of those assets. The fair value of the West assets was determined using the expected proceeds received in an orderly sale of the individual assets. The carrying value of the West assets exceeded the fair value and we recorded an impairment charge of $9.9 million during the fourth quarter of 2023.
In 2024, in our Oilfield Solutions Segment we recorded impairment charges of $6.4 million mainly related to our frac sand opportunity and other oilfield related equipment based on an expected selling price of the assets. Although we still
hold the necessary permits for the sand operation, it is unlikely we will continue to pursue this opportunity as we focus on our core business. During 2023, we recorded impairment charges of $1.5 million related to certain assets in our Oilfield Solutions Segment, specifically certain water recycling equipment and an investment in a non-operating interest in an oil and gas investment.
v3.25.4
LEASES
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Leases LEASES
    We determine if an arrangement is a lease or contains a lease at inception. We have operating leases for mining equipment, trucks, rail cars, and office space. Our operating leases have remaining lease terms ranging from less than one year to six years. Our finance leases have remaining terms ranging from less than one year to seven years. Leases recorded on the balance sheet consist of the following (amounts in thousands):
LeasesClassification on the Balance SheetBalance, December 31, 2025Balance, December 31, 2024
Assets
Operating lease ROU assets, netProperty, plant, equipment, and mineral properties, net$2,245 $1,437 
Finance lease ROU assets, netProperty, plant, equipment, and mineral properties, net$3,435 $2,934 
Liabilities
Current operating lease liabilitiesOther current liabilities$983 $679 
Current finance lease liabilityOther current liabilities$1,035 $951 
Non-current operating lease liabilitiesOperating lease liabilities$1,550 $780 
Non-current finance lease liabilitiesFinance lease liabilities$1,741 $1,838 

    Other information related to lease term and discount rate is as follows:

December 31,
20252024
Weighted average remaining lease term - operating leases3.0 years3.9 years
Weighted average remaining lease term - finance leases 3.7 years3.0 years
Weighted average discount rate - operating leases7.6 %7.0 %
Weighted average discount rate - finance leases7.8 %7.6 %

    The components of lease expense are as follows (amounts in thousands):
    
Year Ended December 31,
202520242023
Operating lease expense$1,468 $1,443 $1,667 
Short-term lease expense82 79 122 
     Total lease expense$1,550 $1,522 $1,789 

    Supplemental cash flow information related to leases was as follows (amounts in thousands):
Year Ended December 31,
20252024
Cash paid for amounts included in the measurement of lease liabilities
   Operating cash flows from operating leases$1,582 $1,516 
   Operating cash flows from finance leases220 185 
   Financing cash flows from finance leases1,043 942 
Right-of-Use Assets exchanged for new operating lease liabilities2,185 751 
Right-of-Use Assets exchanged for new finance lease liabilities1,380 1,562 

    As of December 31, 2025, maturities of lease liabilities are summarized as follows (amounts in thousands):

Years Ending December 31,Operating LeasesFinance LeasesTotal
2026$1,141 $1,203 $2,344 
20271,068 628 1,696 
2028255 604 859 
2029150 376 526 
2030139 165 304 
Thereafter92 248 340 
Total future minimum lease payments$2,845 3,224 6,069 
Less - amount representing interest312 448 760 
Present value of future minimum lease payments$2,533 2,776 5,309 
Less - current lease obligations983 1,035 2,018 
Long-term lease obligations$1,550 $1,741 $3,291 
v3.25.4
INTANGIBLE ASSETS
 12 Months Ended
Dec. 31, 2025
Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS INTANGIBLE ASSETS
We have water rights, recorded at $19.2 million at December 31, 2025, and 2024. Our water rights have indefinite lives and are not amortized. We evaluate our water rights at least annually as of October 1 for impairment, or more frequently if circumstances require.
We have other intangible assets recorded at $6.6 million and $6.6 million as of December 31, 2025, and 2024, respectively. We account for the other intangible assets as finite-lived intangible assets and amortize those intangible assets over the period of estimated benefit, using the straight-line method. As of December 31, 2025, the weighted-average remaining amortization period for the other intangible assets was 13.6 years. These intangible assets are included in "Other assets, net" on the Consolidated Balance Sheets.
As of December 31, 2025, and December 31, 2024, we have the following amounts recorded for intangible assets (amounts in thousands):
December 31, 2025December 31, 2024
Finite-lived intangible assets:Gross Carrying AmountAccumulated AmortizationGross Carrying AmountAccumulated Amortization
Produced water disposal royalty agreements
$2,694 $(900)$2,694 $(765)
Surface damage and easement agreements
3,723 (1,245)3,723 (1,058)
Other intangibles200 (13)200 (7)
Total
$6,617 $(2,158)$6,617 $(1,830)
Indefinite-lived intangible assets:
Water rights
$19,184 $19,184 
    Total amortization of intangible assets for the years ended December 31, 2025, 2024, and 2023 was $0.3 million. We estimate the annual amortization expense of intangible assets will be $0.3 million for each of the next five years.
v3.25.4
OTHER LONG TERM DEFERRED REVENUE
 12 Months Ended
Dec. 31, 2025
Revenue Recognition and Deferred Revenue [Abstract]  
Other Long Term Deferred Revenue Disclosure Text Block OTHER LONG-TERM DEFERRED INCOME
Cooperative Development Agreement—In December 2023, we entered into the Third Amendment of Cooperative Development Agreement (the "Amendment") with XTO Holdings, LLC ("XTO Holdings") and XTO Delaware Basin LLC, as successors in interest to BOPCO, L.P. ("XTO Delaware Basin," and together with XTO Holdings, "XTO"), with an effective date of January 1, 2024 ("Amendment Date"). The Amendment further amends that certain Cooperative Development Agreement, by and between us, BOPCO, L.P. and the other parties thereto, effective as of February 28, 2011 (as amended, including by the Amendment, the "CDA"), which was executed for the purpose of pursuing the cooperative development of potassium and oil and gas on certain lands. The CDA restricts and limits the rights of Intrepid and XTO, as successors in interest to BOPCO, L.P., to explore and develop their respective interests, including limitations on the locations of wells. Intrepid and XTO entered into the Amendment in an effort to further the cooperation, remove the restrictions and limitations, and allow for the efficient co-development of resources within the Designated Potash Area ("DPA") consistent with the United States Secretary of the Interior Order 3324.
Pursuant to the Amendment, among other things, we agreed to provide support to XTO for development and operation of XTO's oil and gas interests within the DPA. As consideration under the Amendment, XTO agreed to pay us an initial fee of $50.0 million (the "Initial Fee"). We received a partial payment of $5.0 million of the Initial Fee in December 2023, and we received payment of the remaining $45.0 million from XTO in January 2024.
The Amendment further provides that we shall receive an additional one-time payment equal to $50.0 million (the "Access Fee"), which XTO will pay within 90 days upon the earlier occurrence of (i) the approval of the first new or expanded drilling island within a specific area to be used by XTO or (ii) within seven years of the anniversary of the Amendment Date. XTO is also required to pay additional amounts to Intrepid as an "Access Realization Fee," up to a maximum of $100.0 million, (the "Access Realization Fee") in the event of certain additional drilling activities by XTO.
Because the cooperative development support we are providing under the CDA is not an output of our ordinary business activities, ASC 606 does not apply to the CDA. However, we apply the principles in ASC 606 by analogy to determine amounts of other income to recognize.
Under ASC 606, we are required to identify the performance obligations in the CDA and to determine the transaction price. The transaction price may include fixed consideration, variable consideration, or both. Variable consideration may only be included in the transaction price if it is probable that a significant reversal of amounts recognized will not occur (referred to as the variable consideration constraint). The Access Realization Fee is considered variable consideration.
Our performance obligation under the Amendment is to "stand-ready" to provide support to XTO, when and as needed, during the term of the Amendment. We estimate the transaction price to be $100.0 million, which is comprised of the $50.0 million Initial Fee and the $50.0 million Access Fee. We are not including any amounts of the Access Realization Fee in the transaction price because of the variable consideration constraint. Since our performance obligation is a "stand-ready" obligation, we are recognizing the transaction price on a straight-line basis over the term of the Amendment which ends on February 28, 2046.
For the year ended December 31, 2025, and 2024, we recorded other operating income of $4.5 million and $4.5 million from the Amendment, respectively. Because we have not yet been paid the Access Fee included in the transaction price, we recorded a long-term receivable as of December 31, 2025 and 2024 of $4.5 million and $2.3 million, respectively, for the amount of the Access Fee that we earned during the years ended December 31, 2025, and 2024, which is included in "Other Assets" on the Consolidated Balance Sheets. For the amount of the Initial Fee we earned during the year ended December 31, 2025, and 2024, we reduced the "Deferred other income, long-term" liability recorded on our Consolidated Balance Sheets.
As of December 31, 2025, we had $2.3 million recorded in "Other current liabilities," and $43.2 million recorded in "Deferred other income, long-term" on the Consolidated Balance Sheets for the unearned portion of the Initial Fee. As of December 31, 2024, we had $2.3 million recorded in "Other current liabilities," and $45.5 million recorded in "Deferred other income, long-term" on the Consolidated Balance Sheets for the unearned portion of the Initial Fee. As of December 31, 2023, we had $5.0 million recorded in "Other current liabilities," and zero recorded in "Deferred other income, long-term" on the Consolidated Balance Sheets.
v3.25.4
DEBT
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
DEBT DEBT
    Credit Facility—In August 2022, we and certain of our subsidiaries entered into the Second Amended and Restated Credit Agreement with a syndicate of lenders with the Bank of Montreal, as administrative agent, which provides for a revolving credit facility. The agreement amended our existing revolving credit facility to, among other things, increase the amount available under the facility from $75 million to $150 million, extend the maturity date to August 4, 2027, and transition from LIBOR (London Interbank Offered Rate) to SOFR (Secured Overnight Financing Rate) as a reference rate for borrowings under the credit agreement. Borrowings under the amended credit facility bear interest at SOFR plus an applicable margin of 1.50% to 2.25% per annum, based on our leverage ratio as calculated in accordance with the amended agreement governing the revolving credit facility. Borrowings under the revolving credit facility are secured by substantially all of our current and non-current assets, and the obligations under the credit facility are unconditionally guaranteed by several of our subsidiaries.
    We occasionally borrow and repay amounts under the facility for near-term working capital needs or other purposes and may do so in the future. For the year ended December 31, 2025, we made no borrowings and made no repayments under the facility. For the year ended December 31, 2024, we made no borrowings and made $4.0 million in repayments under the facility. For the year ended December 31, 2023, we made $9.0 million in borrowings and made $5.0 million repayments under the facility. As of December 31, 2025, we had no borrowings outstanding and no outstanding letters of credit under the facility. As of December 31, 2024, we had no borrowings outstanding and no outstanding letters of credit under the facility. As of December 31, 2023, we had $4.0 million in borrowings outstanding and no outstanding letters of credit under the facility. We had $150.0 million available under the facility as of December 31, 2025.
We were in compliance with the applicable covenants under the facility as of December 31, 2025.
    Interest Expense—Interest expense is recorded net of any capitalized interest associated with investments in capital projects. We incurred gross interest expense of $0.8 million, $0.7 million, and $0.8 million for the years ended December 31, 2025, 2024, and 2023, respectively.
    Amounts included in interest expense for the years ended December 31, 2025, 2024, and 2023 (in thousands) are as follows:
Year ended December 31,
202520242023
Interest expense on borrowings$230 $182 $275 
Commitment fee on unused credit facility228 229 226 
Amortization of deferred financing costs301 301 301 
Gross interest expense759 712 802 
Less capitalized interest527 600 802 
Interest expense, net$232 $112 $— 
v3.25.4
ASSET RETIREMENT OBLIGATION
 12 Months Ended
Dec. 31, 2025
Asset Retirement Obligation Disclosure [Abstract]  
ASSET RETIREMENT OBLIGATION ASSET RETIREMENT OBLIGATION
We recognize an estimated liability for future costs associated with the closure and reclamation of our mining properties. A liability for the fair value of an asset retirement obligation and a corresponding increase to the carrying value of the related long-lived asset are recorded as the mining operations occur or the assets are acquired.
Our asset retirement obligation is based on the estimated cost to close and reclaim the mining operations, the economic life of the properties, and federal and state regulatory requirements. The liability is discounted using credit adjusted risk-free rate estimates at the time the liability is incurred or when there are upward revisions to estimated costs. The credit adjusted risk-free rates used to discount our abandonment liabilities range from 6.9% to 12.0%. Revisions to the liability occur due to construction of new or expanded facilities, changes in estimated abandonment costs or economic lives, changes in the estimated timing of the reclamation activities or if federal or state regulators enact new requirements regarding the abandonment or reclamation of mines.
Following is a table of the changes to our asset retirement obligations for the following periods (in thousands):
Year Ended December 31,
202520242023
Asset retirement obligation, at beginning of period$32,949 $30,359 $26,864 
Liabilities settled(48)— (197)
Liabilities incurred— 524 — 
Changes in estimated obligations3,337 (423)1,552 
Accretion of discount2,603 2,489 2,140 
Total asset retirement obligation, at end of period$38,841 $32,949 $30,359 
Less current portion of asset retirement obligation$— $(595)$(282)
Long-term portion of asset retirement obligation$38,841 $32,354 $30,077 
    We estimate approximately $11.5 million in asset retirement payments may occur in the next five years.
v3.25.4
REVENUE
 12 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
REVENUE REVENUE
Revenue Recognition—Under ASC 606, we recognize revenue when control of the promised goods or services is transferred to customers in an amount that reflects the consideration we expect to be entitled in exchange for those goods or services.
    Contract Balances—As of December 31, 2025, and 2024, we had $2.5 million and $2.4 million of contract liabilities, respectively, of which $0.8 million and $0.8 million were current as of December 31, 2025, and 2024, respectively, and included in "Other current liabilities" on the Consolidated Balance Sheets. Customer advances received before we have satisfied our performance obligations are accounted for as a contract liability (sometimes referred to in practice as deferred revenue).
Our contract liability activity for the years ended December 31, 2025, 2024, and 2023 is shown below (in thousands):
Year Ended December 31,
202520242023
Beginning balance$2,431 $2,303 $2,374 
Additions1,345 1,701 1,030 
Recognized as revenue during period from the beginning balance(1,292)(1,573)(1,101)
Ending balance$2,484 $2,431 $2,303 


    Disaggregation of Revenue—The table below shows the disaggregation of revenue by product and reconciles disaggregated revenue to segment revenue for the years ended December 31, 2025, 2024, and 2023. We believe the disaggregation of revenue by products best depicts how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic conditions (in thousands):
Year Ended December 31, 2025
ProductPotash Segment
Trio® Segment
Oilfield Solutions SegmentIntersegment EliminationsTotal
Potash$115,003 $— $— $(158)$114,845 
Trio®
— 143,966 — — 143,966 
Water— — 3,173 — 3,173 
Salt11,657 497 — — 12,154 
Magnesium Chloride6,191 — — — 6,191 
Brines6,732 — 4,316 — 11,048 
Other— — 6,951 — 6,951 
Total Revenue$139,583 $144,463 $14,440 $(158)$298,328 
Year Ended December 31, 2024
ProductPotash Segment
Trio® Segment
Oilfield Solutions SegmentIntersegment EliminationsTotal
Potash$100,199 $— $— $(252)$99,947 
Trio®
— 104,773 — — 104,773 
Water— — 13,602 — 13,602 
Salt12,378 655 — — 13,033 
Magnesium Chloride5,324 — — — 5,324 
Brines6,932 — 4,204 — 11,136 
Other— — 6,879 — 6,879 
Total Revenue$124,833 $105,428 $24,685 $(252)$254,694 


Year Ended December 31, 2023
ProductPotash Segment
Trio® Segment
Oilfield Solutions SegmentIntersegment EliminationsTotal
Potash$131,206 $— $— $(329)$130,877 
Trio®
— 96,344 — — 96,344 
Water297 5,316 9,569 — 15,182 
Salt11,973 522 — — 12,495 
Magnesium Chloride8,161 — — — 8,161 
Brines4,283 — 4,056 — 8,339 
Other— — 7,685 — 7,685 
Total Revenue$155,920 $102,182 $21,310 $(329)$279,083 
v3.25.4
COMPENSATION PLANS
 12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
COMPENSATION PLANS COMPENSATION PLANS
Cash Bonus Programs—We use cash bonus programs under which our employees may be eligible to receive cash bonuses based on corporate, department, location, or individual performance or other events or accomplishments. We accrue cash bonus expense related to the current year's performance and we expect to pay in March 2026 a cash bonus to our employees under our 2025 bonus program. We met certain performance metrics related to our 2024 cash bonus program and paid a cash bonus in March 2025. We met certain performance metrics related to our 2023 cash bonus program and paid a cash bonus in March 2024.
Equity Incentive Compensation Plan—Our Board of Directors ("Board') and stockholders adopted a long-term incentive compensation plan called the Intrepid Potash, Inc. Amended and Restated Equity Incentive Plan (the "Plan"). The Plan was most recently amended and restated in May 2022. We have issued common stock, restricted shares, restricted stock units, and non-qualified stock option awards under the Plan. Restricted stock units ("RSUs") represent the contingent right to receive one share of our common stock upon satisfaction of applicable vesting conditions. RSUs do not have any of the rights available to holders of common stock until vesting and settlement of RSUs in shares of common stock. Restricted share awards ("RSAs") contain service-based conditions and in some instances contain both service-based and market-based conditions. Certain RSU awards contain service-based and operational performance conditions (referred to as "operational performance-based RSUs") and certain RSU awards contain service-based and market-based conditions (referred to as "market-based RSUs").
We record stock-based compensation expense associated with the issuance of RSAs, non-qualified stock options, operational performance-based RSUs, and market-based RSUs by recognizing expense over the service period associated with each grant, based on the fair value of the grant on the grant date. For service-based awards, grant date fair value is based on the closing share price of our common stock on the grant date and expense is recognized on a straight-line basis over the required service period of the award, which is generally the vesting period of the award. For operational performance-based awards grant date fair value is based on the closing share price of our common stock on the grant date and the probable number of shares expected to vest and expense is recognized using the accelerated recognition method over the required service period, which is generally the vesting period of the award. The probable number of shares expected to vest is updated each reporting period and we record a cumulative catch-up adjustment to expense for changes to the probability assessment. For RSA and RSU awards that contain both service-based and market-based conditions, grant date fair value is estimated using a Monte Carlo simulation valuation model and expense is recognized using the accelerated recognition method over the required service period, which is the longer of the explicit service period or the derived service period. The derived service period is generally the expected date the market condition is estimated to be achieved.
As of December 31, 2025, 287,345 restricted shares, 195,586 restricted stock units, and options to purchase 1,395 shares of common stock were outstanding. Total compensation expense related to the Plan was $5.1 million, $3.6 million, and $6.5 million, for the years ended December 31, 2025, 2024, and 2023, respectively. As of December 31, 2025, there was $7.2 million of total remaining unrecognized compensation expense that is expected to be recognized over a weighted-average period of 1.5 years. When restricted shares and performance units vest and when stock options are exercised, new shares are issued and considered outstanding for financial statement purposes. As of December 31, 2025, approximately 0.8 million shares of common stock remained available for issuance under the Plan.
Restricted Shares
During 2025, the Compensation Committee of the Board (the "Compensation Committee") granted restricted shares of common stock to non-employee members of the Board of Directors ("Board"), executive officers, and other key employees. All restricted shares granted by the Compensation Committee during 2025 contain only service-vesting requirements.
In January 2025, the Board increased the size of the Board from seven members to eight members and the Board appointed an additional independent director to fill the vacancy created by the expansion of the Board. In connection with appointing an additional independent director, the Compensation Committee granted the new independent director 1,040 restricted shares that vested on May 16, 2025. In May 2025, the Compensation Committee granted an aggregate of 16,016 restricted shares to non-employee members as part of their annual compensation and these restricted shares vest one year after the date of the grant, subject to continued service.
In March 2025, the Compensation Committee granted an aggregate of 118,773 restricted shares to executives and key employees as part of our annual equity award program. The restricted shares vest over three years from the grant date subject to continued employment or service.
During 2024, the Compensation Committee granted restricted shares of common stock to non-employee directors, executive officers and other key employees. The Compensation Committee granted an aggregate of 20,739 shares of restricted shares to non-employee directors as part of their annual compensation, which vest in one year after the grant date. In September 2024, the Compensation Committee granted special one-time grants of an aggregate of 6,282 restricted shares to non-employee directors which vested on May 25, 2025. The special one-time grants were awarded because of additional Board meetings held during 2024, as a result of the medical leave of absence taken by our former Chief Executive Officer during 2024.
During 2024, the Compensation Committee granted an aggregate of 196,809 restricted shares to employees as part of either our annual equity award program to new employees or to employees who assumed additional responsibilities during the year. These awards contain only service-vesting requirements and vest over three years from the grant date subject to continued employment or service.
During 2024, the Compensation Committee granted an aggregate of 32,299 restricted shares to certain members of executive management that contain both service- and market-conditions. The grants vest over three years from the grant date if the average share closing price for 20 consecutive days has met one of the applicable price achievement targets; provided, however, that no vesting would occur if the average closing share price for 20 consecutive days has not met one or more applicable price achievement goals on or before March 17, 2027. All share price achievement goals for these awards were met during 2025, and the first tranche of restricted shares vested during 2025, and the remaining unvested restricted shares will vest on the grant date anniversary in 2026, and 2027, subject to continued employment.
During 2023, the Compensation Committee granted restricted shares of common stock to non-employee directors, executive offices and other key employees. The Compensation Committee granted an aggregate of 22,226 shares of restricted shares to non-employee directors as part of their annual compensation, which vested one year after the grant date.
During 2023, the Compensation Committee granted an aggregate of 130,975 restricted shares of common stock to employees as part of our annual equity award program. The awards contain only service-vesting requirements and vest over three years from the grant date subject to continued employment.
During 2023, the Compensation Committee granted an aggregate of 22,220 restricted shares of common stock with both service- and market-conditions to certain members of our executive team as part of their annual compensation package. The grants vest over three years from the grant date if the average share closing price for 20 consecutive days has met one of the applicable price achievement targets; provided, however, that no vesting would occur if the average closing share price for 20 consecutive days has not met one or more applicable price achievement goals on or before March 17, 2026. The share price achievement goals for these awards were met during 2025 and the first two tranches vested during 2025 and the third tranche will vest in 2026, subject to continued employment.
During 2023, the Compensation Committee granted 71,922 restricted shares of common stock with service and market conditions to our former chief executive officer as part of his annual compensation package. On September 30, 2024, our former chief executive officer resigned from all positions with the Company and its subsidiaries and affiliates. None of the market-condition price achieve targets were met as of September 30, 2024, and all unvested restricted shares were cancelled.
The table below shows the restricted share activity and the restricted shares outstanding for the years ended December 31, 2025, 2024 and 2023.
Restricted SharesWeighted Average Grant Date Fair Value
Outstanding December 31, 2022300,268$40.25
Granted247,343$25.05
Vested(177,771)$24.98
Forfeited(28,916)$42.63
Outstanding December 31, 2023340,924$36.98
Granted256,129$21.88
Vested(138,668)$29.22
Forfeited(139,350)$30.10
Outstanding December 31, 2024319,035$31.23
Granted135,829$30.10
Vested(142,160)$25.52
Forfeited(25,359)$23.81
Outstanding December 31, 2025287,345$27.01
We used a Monte Carlo simulation valuation model to estimate the fair value of restricted stock awards that contain a market condition. The weighted-average grant date fair value per share of restricted shares with service and market conditions issued in 2024, and 2023 was $17.80, and $24.96, respectively. No restricted stock awards containing market conditions were granted during 2025.
Valuation models require the input of highly subjective assumptions, including the expected volatility of the price of the underlying stock. We used the following assumptions to compute the weighted-average grant date fair market value of restricted stock with service and market conditions granted in 2024, and 2023:

20242023
Closing stock price on grant date$19.37 $26.05 
Risk free interest rate4.5 %3.6 %
Dividend yield— %— %
Estimated volatility67.6 %82.9 %
Expected life3.0 years3.8 years

Restricted Stock Units
During 2025, the Compensation Committee granted restricted stock performance unit ("PSU") awards to executive officers and certain key employees that are eligible to vest based on potash production cost per ton for the 2027 calendar year. An aggregate of 22,577 target number of PSUs were granted and based upon potash production cost per ton for the 2027 calendar year, between 0% and 200% of the target number of PSUs may be earned.
During 2025, the Compensation Committee granted restricted stock unit ("RSU") awards to executive officers and certain key employees that contain an absolute total stockholder return ("TSR") market condition (referred to as the "aTSR" awards). Under the terms of the aTSR award, up to 26,858 RSUs can be earned based on the achievement of certain TSR hurdles on or prior to March 17, 2029. Once a TSR hurdle is achieved, one-half of the total RSUs earned will vest immediately and one-half of the total RSUs earned will vest on the one-year anniversary of the date the TSR hurdle was achieved. Any RSUs that have not achieved any TSR hurdles on or prior to March 17, 2029, shall be forfeited.
During 2025, the Compensation Committee granted RSU awards to executive officers and certain key employees that contain a relative TSR market condition (referred to as the "rTSR" awards). Under the terms of the rTSR award, RSUs may be earned based on the Company's TSR percentile rank compared to each company included in the Russell 2000 Index as of March 17, 2025. The period under which the relative performance is measured is from March 17, 2025, through March 17, 2028 (the "Performance Period"). If the Company's TSR percentile rank is in the 20th percentile or below, no RSUs will
vest. If the Company's TSR percentile rank is in the 90th percentile or above, up to 36,304 RSUs are eligible to vest, subject to a negative TSR cap and a maximum cap payout value. If the Company's TSR is negative during the Performance Period, then, irrespective of the Company relative TSR rank, the maximum number of RSUs that may be earned is 18,152 RSUs. The fair market value of the shares of common stock issuable in respect of RSUs vesting for each grantee, as measured on the date of vesting, may not exceed 500% of the grantee's total grant date fair value of the rTSR award.
In November 2024, the Board appointed a new chief executive officer and in connection with that appointment, in December 2024, the new chief executive officer was granted two restricted stock unit (“RSU”) awards. Both of the RSU awards contain a service condition and a market condition, with one RSU award containing an absolute total stockholder return (“TSR”) market condition (referred to as the “aTSR") and the other RSU award containing a relative TSR market condition (referred to as the “rTSR”). Under both the aTSR and rTSR awards, any RSUs that vest shall be settled through the issuance of an equal number of shares of our common stock as soon as administratively practicable.
Under the terms of the aTSR award, up to 19,575 RSUs may be earned based on the achievement of certain absolute TSR hurdles on or prior to December 31, 2028. If a TSR hurdle is achieved on or before the one-year anniversary of the grant date, the RSUs earned will vest in three equal installments on the one-, two-, and three-year anniversaries of the grant date. If any TSR hurdles are achieved after the one-year anniversary of the grant date but before the two-year anniversary of the grant date, one-third of the RSUs earned will vest immediately and the remaining earned RSUs will vest equally on the two- and three-year anniversaries of grant date. For any TSR hurdles met after the two-year anniversary of the grant date, two-thirds of the RSU's earned will vest immediately and one third will vest on the third-year anniversary of the grant date. If a TSR hurdle is achieved after the three-year anniversary of the grant date and on or prior to December 31, 2028, the RSUs earned will vest immediately. Any RSUs that have not been earned as of December 31, 2028, are forfeited. RSUs under the aTSR award do not have any stockholder rights of holders of shares of common stock.
Under the terms of the rTSR, RSUs may be earned based on the Company’s TSR percentile rank compared to each company included in the Russell 2000 Index as of January 1, 2025. The period under which the relative performance is measured is from January 1, 2025, through December 31, 2027 (the “Performance Period”). If the Company’s TSR percentile rank is in the 20th percentile rank or below, no RSUs will vest. If the Company’s TSR percentile rank is in the 90th percentile or above, up to 91,710 RSUs are eligible to vest, subject to a negative TSR cap and a max payout cap. If the Company’s TSR is negative, then, irrespective of the Company’s relative TSR percentile rank, the maximum number of RSUs that may be earned is 45,855. Under the max payout cap, the total fair market value of the shares of common stock issuable may not be greater than $6.6 million. The grantee is entitled to receive an additional amount in cash equal to the value of all dividends and distributions made during the Performance Period for any vested RSUs. The RSUs do not have any other stockholder rights of holders of shares of common stock.
The table below shows the RSU activity and the RSUs outstanding for the years ended December 31, 2025, and 2024. We did not issue any RSUs during the year ended December 31, 2023.
Restricted Stock UnitsWeighted Average Grant Date Fair Value
Outstanding December 31, 2023—$—
Granted111,285$16.25
Vested—$—
Forfeited—$—
Outstanding December 31, 2024111,285$16.25
Granted94,586$23.53
Vested(4,064)$24.72
Forfeited(6,221)$23.53
Outstanding December 31, 2025195,586$19.36
.
We used a Monte Carlo simulation valuation model to estimate the fair value of the aTSR and rTSR awards on the grant date. We record compensation expense monthly using the accelerated recognition method over the longer of the explicit or derived service period of the award. The weighted-average grant date fair value per share using the maximum number of shares that can be earned under the aTSR and rTSR awards issued in 2025 was $24.53 and $20.11, respectively. The weighted-average grant date fair value per share using the maximum number of shares that can be earned under the aTSR and rTSR awards issued in 2024 was $22.63 and $14.89, respectively.
We used the following assumptions to compute the weighted-average grant date fair market value of RSUs granted with service and market conditions granted in 2025 and 2024:

Granted in 2025Granted in 2024
Absolute TSR RSU AwardRelative TSR RSU AwardAbsolute TSR RSU AwardRelative TSR RSU Award
Closing stock price on grant date$29.18 $30.74 $27.39 $27.39 
Risk free interest rate4.03 %3.97 %4.05 %4.07 %
Dividend yield— %— %— %— %
Estimated volatility62.7 %58.1 %67.8 %62.2 %
Expected life4.0 years3.0 years4.1 years3.1 years
Non-Qualified Stock Option Activity
We have not granted any non-qualified stock options to our employees since 2018. A summary of all stock option activity for the year ended December 31, 2025, is as follows:
SharesWeighted Average Exercise Price
Aggregate Intrinsic Value1
Weighted Average Remaining Contractual Life
Outstanding non-qualified stock
   options, beginning of period		273,206 $29.04
Granted— $—
Exercised(115,993)$15.88
Forfeited(155,818)$39.00
Expired— $—
Outstanding non-qualified stock
   options, end of period		1,395 $10.30$24,3150.3
Vested or expected to vest,
   end of period		1,395 $10.30$24,3150.3
Exercisable non-qualified
    stock options, end of period		1,395 $10.30$24,3150.3
1The intrinsic value of a stock option is the amount by which the market value exceeds the exercise price as of the end of the period presented.
The total intrinsic value of stock options exercised during 2025 was $1.5 million. No stock options were exercised during 2024 and 2023.
v3.25.4
INCOME TAXES
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
INCOME TAXES
We account for income taxes in accordance with ASC Topic 740, Income Taxes. This standard requires the recognition of deferred tax assets and liabilities for the tax effect of temporary differences between the financial statement and tax basis of recorded assets and liabilities at enacted tax rates in effect when the related taxes are expected to be settled or realized. We recognize income taxes in each of the tax jurisdictions where we conduct business. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.
A summary of the provision for income taxes is as follows (in thousands):
Year Ended December 31,
202520242023
Current portion of income tax expense (benefit):
   Federal$— $— $— 
   State544 110 82 
Deferred portion of income tax expense (benefit):
   Federal— 146,457 (8,538)
   State— 47,766 67 
Total income tax expense (benefit) $544 $194,333 $(8,389)
As described in Note 2, Summary of Significant Accounting Policies, we have elected to prospectively adopt the guidance in ASU 2023-09, Improvement to Income Tax Disclosures. The following table is a reconciliation of the federal statutory income tax rate of 21% to our effective rate for the year ended December 31, 2025, in accordance with the guidance in ASU 2023-09 (in thousands, except percentages):

Year Ended December 31, 2025
Tax AmountTax Rate
Federal tax at statutory rate$2,463 21.0 %
State taxes, net of federal benefit544 4.6 %
Change in valuation allowance(2,521)(21.5)%
Non-deductible items:
  Officers' compensation519 4.4 %
  Fines and penalties457 3.9 %
  Meals and entertainment38 0.3 %
  Other non-deductible items26 0.2 %
Other
  Percentage depletion(1,068)(9.1)%
  Stock compensation(49)(0.4)%
  Federal effect of changes to state tax rates89 0.8 %
  Other46 0.4 %
Net expense as calculated$544 4.6 %

The following table is a reconciliation of the U.S. federal statutory rate of 21% to our effective tax rate for the years ended December 31, 2024, and 2023, in accordance with the guidance prior to the adoption of ASU 2023-09 (in thousands, except percentages):
20242023
Federal taxes at statutory rate$(3,888)$(9,253)
Add:
State taxes, net of federal benefit(1,536)(1,274)
Change in valuation allowance199,006 1,121 
Change in federal and state tax rates159 238 
Officers' compensation760 848 
Percentage depletion(465)(282)
Other297 213 
Net expense (benefit) as calculated$194,333 $(8,389)
Effective tax rate(1,049.8)%19.0 %
    Our effective tax rate for the years ended December 31, 2025, 2024, and 2023 differs from the U.S. federal statutory rate primarily due to the change in our valuation allowance.
    As of December 31, 2025, and 2024, we had gross deferred tax assets of $198.9 million and $202.2 million, respectively. During the year ended December 31, 2025, our deferred tax assets decreased primarily from decreases in the amounts of our federal and state net operating loss carryforwards. Included in gross deferred tax assets as of December 31, 2025, were approximately $171.1 million of federal net operating loss carryforwards, which expire beginning in 2035, and approximately $252.2 million of state net operating loss carryforwards, the majority of which begin to expire in 2034. Also
included are $1.9 million of federal research and development credits which begin to expire in 2031. The federal loss carryforward could be subject to examination by the tax authorities within three years after the carryforward is utilized, while the state net operating loss carryforwards could be subject to examination by the tax authorities generally within three or four years after the carryforward is utilized, depending on jurisdiction. Significant components of our deferred tax assets and liabilities were as follows (in thousands):
December 31,
20252024
Deferred tax assets (liabilities):
Property, plant, equipment and mineral properties, net$121,092 $121,172 
Federal and state net operating loss carryforwards48,136 60,278 
Asset retirement obligation9,961 8,468 
Deferred revenue12,302 1,330 
Other5,535 9,042 
Federal R&D credits1,870 1,870 
Total deferred tax assets198,896 202,160 
Valuation allowance(198,896)(202,160)
Deferred tax asset, net$— $— 
    In assessing the need for a valuation allowance, we consider whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. We evaluate our ability to realize the tax benefits associated with deferred tax assets by analyzing the relative impact of all the available positive and negative evidence regarding our forecasted taxable income using both historical and projected future operating results, the reversal of existing taxable temporary differences, taxable income in prior carryback years, as permitted by regulation, and the availability of tax planning strategies. In determining how much of a valuation allowance to recognize we primarily consider our projections of future taxable income. All available evidence, both positive and negative, that may affect the realizability of deferred tax assets is identified and considered in determining the appropriate amount of the valuation allowance. The ultimate realization of deferred tax assets is dependent upon the generation of certain types of future taxable income during the periods in which those temporary differences become deductible. Assumptions of expected future taxable income are based primarily on prices and forecasted sales volumes which are subject to market volatility. In making this assessment, we consider the scheduled reversal of deferred tax liabilities, our ability to carry back the deferred tax asset, projected future taxable income, and tax planning strategies.
    As of December 31, 2025, and 2024, we have a full valuation allowance against our deferred tax assets because we do not believe it is more likely than not that we will fully realize the benefit of the deferred tax assets. During 2025, our valuation allowance decreased $3.3 million. The decrease was mainly due to reversals of deferred tax assets related to net operating losses. Our deferred tax assets, net of the valuation allowance, at both December 31, 2025, and 2024, is zero.
The estimated statutory income tax rates that are applied to our current and deferred income tax calculations are impacted most significantly by the tax jurisdictions in which we conduct business. Changing business conditions for normal business transactions and operations, as well as changes to state tax rates and apportionment laws, potentially alter the apportionment of income among the states for income tax purposes. These changes to apportionment laws result in changes in the calculation of our current and deferred income taxes, including the valuation of our deferred tax assets and liabilities. The effects of any such changes are recorded in the period of the adjustment. Such adjustments can increase or decrease the net deferred tax asset on the balance sheet and impact the corresponding deferred tax benefit or deferred tax expense on the statement of operations.
A decrease of our state tax rate decreases the value of its deferred tax asset, resulting in additional deferred tax expense being recorded on the income statement. Conversely, an increase in our state income tax rate would increase the value of the deferred tax asset, resulting in an increase in our deferred tax benefit. Because of the magnitude of the temporary differences between our book and tax basis in the assets, relatively small changes in the state tax rate may have a pronounced impact on the value of our net deferred tax asset.
Each quarter we evaluate the need for a liability for uncertain tax positions. At December 31, 2025, and 2024, we had no items that required disclosure in accordance with FASB guidance on accounting for uncertainty in income taxes.
We operate, and accordingly file income tax returns, in the U.S. federal jurisdiction and various U.S. state jurisdictions. With few exceptions, we are no longer subject to income tax audits that could result in an assessment for years prior to 2022.
The following table presents income tax paid (refunded) for the year ended December 31, 2025:
202520242023
   New Mexico$206,723 $(46,772)—
   Oregon190,784 10,000 104,090 
   Texas41,760 51,812 69,412 
   Alabama23,966 —(27,210)
   Pennsylvania14,299 ——
   Montana2,650 (9,461)—
   New Jersey—6,000 20,842 
   Massachusetts——9,000 
   California——(42,200)
   Other7,672 (2,562)44,730 
Income Taxes Paid$487,854 $9,017 $178,664 
— The amount of income taxes paid during the year does not meet the five percent disaggregation threshold.
v3.25.4
COMMITMENTS AND CONTINGENCIES
 12 Months Ended
Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS AND CONTINGENCIES COMMITMENTS AND CONTINGENCIES
Reclamation Deposits and Surety Bonds—As of December 31, 2025, and 2024, we had $30.1 million and $27.0 million, respectively, of security placed principally with the states of Utah and New Mexico and the Bureau of Land Management for eventual reclamation of our various facilities. Of this total requirement, as of December 31, 2025, and 2024, $0.6 million and $0.6 million, respectively, consisted of long-term restricted cash deposits reflected in "Other" long-term assets on the Consolidated Balance Sheets, and $29.5 million and $26.4 million, respectively, was secured by surety bonds issued by an insurer. The surety bonds are held in place by an annual fee paid to the issuer.
We may be required to post additional security to fund future reclamation obligations as reclamation plans are updated or as governmental entities change requirements.
    Legal—We are subject to claims and legal actions in the ordinary course of business. We expense legal costs as incurred. While there are uncertainties in predicting the outcome of any claim or legal action, except as noted below, we believe the ultimate resolution of these claims or actions is not reasonably likely to have a material adverse effect on our financial condition, results of operations, or cash flows.
Water Rights
In 2017 and 2018, the New Mexico Office of the State Engineer ("OSE") granted us preliminary and emergency authorizations to sell approximately 5,700 acre-feet of water per year from our Pecos River water rights. The preliminary and emergency authorizations allowed for water sales to begin immediately, subject to repayment if the underlying water rights were ultimately found to be invalid. On March 17, 2022, following a trial to determine the validity of our Pecos River water rights, the Fifth Judicial District Court in New Mexico entered an order that found that of the 20,000 acre feet of water per year we claimed, our predecessors in interest had forfeited all but approximately 5,800 acre feet of water per year, and that of the remaining 5,800 acre feet of water that had not been forfeited, all but 150 acre feet of water had been abandoned prior to 2017 (the "Order"). The Order limited our right to 150 acre fee per annum of water for industrial-salt processing use. We appealed the Order to the New Mexico Court of Appeals ("NMCA"), which, on July 7, 2023, affirmed the Order. On November 17, 2023, we filed a request for the New Mexico Supreme Court ("NMSC") to reconsider and review the NMCA's decision to affirm the Order's abandonment determination. The NMSC agreed to review the NMCA's abandonment determination, and on July 5, 2025, issued a decision upholding the NMCA’s findings. The NMSC’s decision renders the Order final.
Given the NMSC’s decision, we will have to repay for the water sold under preliminary and emergency authorizations. The OSE has indicated they are seeking repayment of approximately 9,600 acre-feet of water. Repayment is customarily made in-kind over a period of time but can take other forms including cash repayment. If we are not able to repay
in-kind due to the lack of remaining water rights or logistical constraints, we may need to purchase water to meet this repayment or be subject to a cash repayment. Because of the uncertainty surrounding the timing and the form of repayment, we cannot reasonably estimate the amount of the potential liability and have not recorded a loss contingency in our statement of operations related to this legal matter.
Class Action Claim
On November 6, 2024, we were served with a class action lawsuit filed in federal district court in New Mexico. The suit alleged that Intrepid and Intrepid Potash – New Mexico, LLC violated the New Mexico Minimum Wage Act by failing to properly compensate certain New Mexico underground mine and surface mine workers overtime for specific activities, including putting on and removing personal protective equipment from 2009 to the present. The complaint sought all unpaid wages for these activities for all class members, which was alleged to exceed $5.0 million.
In December 2025, we agreed to pay $4.0 million to settle the matter and to dismiss all current and future claims arising from this matter against us. We have recorded an estimated liability of $4.0 million as of December 31, 2025. The settlement remains subject to customary conditions, including final approval by the court following notice to the putative class and a fairness hearing. There can be no assurance that the court will grant final approval or that appeals will not be filed.
Other Contingent Liabilities
In May 2025, we reported to the State of New Mexico that we had an unpermitted discharge of brine at our HB facility. We have recorded an estimated liability of $2.2 million related to the potential penalties we may incur related to this unpermitted discharge. The State of New Mexico may require us to perform remediation activities related to this incident. Given the nature and location of the discharge, we have recorded an estimated environmental liability of $0.1 million for any required environmental remediation activities based on our estimate of the costs associated with expected required environmental remediation activities. However, our estimate of any required remediation costs related to the unpermitted discharge could change significantly and could have a material adverse effect on our financial condition, results of operations, or cash flows, if we are required to perform more substantial and costly remediation activities than we currently expect to perform.
In 2019, the U.S. Department of the Interior Office of Natural Resources Revenue ("ONRR") completed an audit of federal royalties at our New Mexico facilities covering the years 2012 through 2016 (the "audit period") and issued a "Perform Restructured Accounting and Pay Order" (the "Order"). The most significant of the ONRR's findings related to instances in which adequate supporting documentation was not provided to them for various items ONRR tested during the audit. Since the Order was issued, we worked with the ONRR to address the issues noted from the audit and, in the third quarter of 2025, we paid $3.5 million to the ONRR and the ONRR closed the Order.
As of December 31, 2025, we have estimated contingent liabilities recorded in "Other current liabilities" on the Consolidated Balance Sheets of $7.3 million, mainly related to a proposed settlement for an employment class action lawsuit and to potential penalties related to an unpermitted discharge at our HB facility. As of December 31, 2024, we had estimated contingent liabilities recorded in "Other current liabilities" on the Consolidated Balance Sheets of $4.8 million, mainly related to the potential underpayment of royalties to the U.S. Department of the Interior Office of Natural Resources Revenue ("ONRR") in 2012 to 2016.
v3.25.4
FAIR VALUE MEASUREMENTS
 12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
FAIR VALUE MEASUREMENTS FAIR VALUE MEASUREMENTS
    We measure our financial assets and liabilities in accordance with Accounting Standards Codification ("ASC") Topic 820, Fair Value Measurements and Disclosures. ASC Topic 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the measurement date. The topic establishes market or observable inputs as the preferred sources of values, followed by assumptions based on hypothetical transactions in the absence of market inputs. The topic also establishes a hierarchy for grouping these assets and liabilities based upon the lowest level of input that is significant to the fair value measurement. The definition of each input is described below:
•Level 1—Quoted prices in active markets for identical assets and liabilities.
•Level 2—Quoted prices in active markets for similar assets and liabilities, quoted prices for identical or similar instruments in markets that are not active, and model‑derived valuations whose inputs are observable or whose significant value drivers are observable.
•Level 3—Significant inputs to the valuation model that are unobservable.
    The classification of fair value measurement within the hierarchy is based upon the lowest level of input that is significant to the measurement.
Other financial instruments consist primarily of cash equivalents, accounts receivable, refundable income taxes, accounts payable, accrued liabilities, and, if any, advances under our credit facility. With the exception of investment securities, we believe cost approximates fair value for our financial instruments because of the short-term nature of these instruments.
Cash Equivalents—As of December 31, 2025, and December 31, 2024, we had cash equivalents of $5.9 million and $2.6 million, respectively.
Held-to-Maturity Investments—During the three months ended June 30, 2025, all of our held-to-maturity debt investments matured and as of December 31, 2025, we did not own any debt investment securities. As of December 31, 2024, we owned debt investment securities classified as held-to-maturity because we had the intent and ability to hold these investments to maturity. These held-to-maturity debt investment securities were carried at amortized cost, were recorded in "Short-term investments" on the Consolidated Balance Sheets, and consisted of the following (amounts in thousands):
As of December 31, 2024
Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
Short-term
Corporate bonds$— $— $— $— 
Government bonds989 — — 989 
Total$989 $— $— $989 

Investments in Equity Securities—In May 2020, we acquired a non-controlling equity investment in W.D. Von Gonten Laboratories ("WDVGL") for $3.5 million. We initially accounted for this investment as an equity investment without a readily determinable fair value and elected to measure our investment, as permitted by GAAP, at cost plus or minus any adjustments for observable changes in prices resulting from orderly transactions for the identical or a similar investment of the same issuer or impairment.
In July 2022, WDVGL entered into an agreement (the “Purchase Agreement”) with National Energy Services Reunited Corporation (“NESR”), a British Virgin Islands corporation headquartered in Houston, Texas. Under the terms of the Purchase Agreement, WDVGL was combined with the consulting business owned by W.D. Von Gonten (“Consulting”) to form a new entity, W.D. Von Gonten Engineering, LLC (“Engineering”), and NESR purchased Engineering in a majority stock transaction at an agreed upon selling price. NESR stock received from the sale of Engineering was distributed to investors in WDVGL and Consulting in August 2024.
In February 2023, we received $0.2 million in cash for our investment in WDVGL. Initially, we recorded that cash received as a liability because we were required to return the cash to WDVGL if the sale of Engineering to NESR was not finalized. The sale of Engineering to NESR has since been finalized and the recorded value of our investment in WDVG was reduced to $3.3 million, which is the aggregate cost basis of the 336,773 shares of NESR stock we received in August 2024 related to the sale of WDVGL.
As required by Accounting Standards Codification ("ASC") Topic 321 - Investments-Equity Securities ("ASC 321"), equity securities were valued at fair value in the Consolidated Balance Sheet and unrealized gains and losses for investments in equity securities were included in "Other (expense) income" on the Consolidated Statement of Operations. At December 31, 2024, the fair value of our investment in NESR equity securities was $3.0 million and was included in "Long-term investments" on the Consolidated Balance Sheet at December 31, 2024, and the unrealized loss of $0.3 million was included in "Other (expense) income" on the Consolidated Statement of Operations for the year ended December 31, 2024.
In May 2025, we sold all shares of NESR we owned and received proceeds of $2.1 million. When the NESR shares were sold, the fair value of the shares was $2.5 million, and we recorded a realized loss of $0.4 million during the three months ended June 30, 2025. For the year ended December 31, 2025, the total loss (unrealized losses plus realized losses) related to this investment was $0.9 million, which is included in "Other (expense) income" on the Consolidated Statement of Operations.
Equity Method Investments—We are a limited partner with a 16% interest in PEP Ovation, LP ("Ovation") as of December 31, 2025, and 2024. This investment is accounted for under the equity method whereby we recognize our proportional share of the income or loss from our investment in Ovation on a one-quarter lag and is included in "Long-term investments" on the Consolidated Balance Sheets. For the years ended December 31, 2025, and 2024, our proportional share of Ovation's net loss was $0.4 million and $0.3 million, respectively.
v3.25.4
EMPLOYEE BENEFITS
 12 Months Ended
Dec. 31, 2025
Retirement Benefits [Abstract]  
EMPLOYEE BENEFITS EMPLOYEE BENEFITS
401(k) Plan
We maintain a savings plan qualified under Internal Revenue Code Sections 401(a) and 401(k). The 401(k) Plan is available to eligible employees of our consolidated entities. Employees may contribute amounts as allowed by the U.S. Internal Revenue Service to the 401(k) Plan (subject to certain restrictions) in before-tax contributions. In January 2018, we increased the matching contributions on a dollar-for-dollar basis up to a maximum of 5% of the employee's base compensation. Our contributions to the 401(k) Plan in the following periods were (in thousands):
Contributions
Year Ended December 31, 2025$2,219 
Year Ended December 31, 2024$2,066 
Year Ended December 31, 2023$2,057 
v3.25.4
BUSINESS SEGMENTS
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
BUSINESS SEGMENTS BUSINESS SEGMENTS
    Our operations are organized into three segments: potash, Trio®, and oilfield solutions. The reportable segments are determined by management based on several factors including the types of products and services sold, production processes, markets served and the financial information available for our chief operating decision maker. We evaluate performance based on the gross margins of the respective business segments and do not allocate corporate selling and administrative expenses, among others, to the respective segments. Intersegment sales prices are market-based and are eliminated in the "Other" column. Information for each segment is provided in the tables that follow (in thousands).
Year Ended December 31, 2025Potash
Trio®
Oilfield SolutionsOtherConsolidated
Sales1
$139,583 $144,463 $14,440 $(158)$298,328 
Less: Freight costs15,617 32,818 — (158)48,277 
Warehousing and handling costs
6,530 5,685 — — 12,215 
Cost of goods sold
94,776 72,574 11,228 — 178,578 
Lower of cost or NRV inventory adjustments
4,442 — — — 4,442 
Gross Margin $18,218 $33,386 $3,212 $— $54,816 
Depreciation, depletion, and amortization incurred2
$31,478 $3,353 $3,813 $1,925 $40,569 
Year Ended December 31, 2024Potash
Trio®
Oilfield SolutionsOtherConsolidated
Sales1
$124,833 $105,428 $24,685 $(252)$254,694 
Less: Freight costs13,176 25,841 — (252)38,765 
Warehousing and handling costs
6,306 5,169 — — 11,475 
Cost of goods sold
83,974 69,980 17,461 — 171,415 
Lower of cost or NRV inventory adjustments
3,957 — — — 3,957 
Gross Margin$17,420 $4,438 $7,224 $— $29,082 
Depreciation, depletion, and amortization incurred2
$27,955 $3,500 $4,431 $1,803 $37,689 
Year Ended December 31, 2023Potash
Trio®
Oilfield SolutionsOtherConsolidated
Sales1
$155,920 $102,182 $21,310 $(329)$279,083 
Less: Freight costs14,753 23,211 — (329)37,635 
Warehousing and handling costs
5,957 4,875 — — 10,832 
Cost of goods sold
97,452 74,308 15,518 — 187,278 
Lower of cost or NRV inventory adjustments
2,709 3,783 — — 6,492 
Gross Margin (Deficit)$35,049 $(3,995)$5,792 $— $36,846 
Depreciation, depletion, and amortization incurred2
$28,378 $6,288 $3,849 $885 $39,400 

1 Segment sales include the sales of byproducts generated during the production of potash and Trio®.
2 Depreciation, depletion, and amortization incurred for potash and Trio® excludes depreciation, depletion, and amortization absorbed in or (relieved from) inventory.
    
Our Chief Executive Officer is our chief operating decision maker who uses segment gross margins to assess the performance of each segment. Significant components of cost of goods sold are also provided to the chief operating decision maker to further evaluate segment performance and are shown below:
Year Ended December 31, 2025Potash
Trio®
Oilfield SolutionsTotal
Labor and benefits$29,838 $30,965 $4,821 $65,624 
Maintenance7,346 9,959 597 17,902 
Utilities and fuel7,564 4,752 788 13,104 
Operating supplies6,159 10,674 227 17,060 
Depreciation25,292 3,353 3,901 32,546 
Other1
18,577 12,871 894 32,342 
Total cost of goods sold$94,776 $72,574 $11,228 $178,578 
Year Ended December 31, 2024Potash
Trio®
Oilfield SolutionsTotal
Labor and benefits$25,827 $31,626 $4,260 $61,713 
Maintenance5,861 8,224 1,029 15,114 
Utilities and fuel7,916 4,555 865 13,336 
Operating supplies5,969 8,952 295 15,216 
Depreciation21,808 4,488 4,499 30,795 
Other1
16,593 12,135 6,513 35,241 
Total cost of goods sold$83,974 $69,980 $17,461 $171,415 
Year Ended December 31, 2023Potash
Trio®
Oilfield SolutionsTotal
Labor and benefits$29,174 $36,441 $5,162 $70,777 
Maintenance7,041 7,719 881 15,641 
Utilities and fuel9,627 7,117 1,085 17,829 
Operating supplies6,977 7,407 494 14,878 
Depreciation26,271 4,741 3,879 34,891 
Other1
18,362 10,883 4,017 33,262 
Total cost of goods sold$97,452 $74,308 $15,518 $187,278 

1 Other expense includes property taxes, insurance, royalties, and other miscellaneous expenses.

The following table shows the reconciliation of reportable segment sales to consolidated sales and the reconciliation of segment gross margins to consolidated income before taxes (in thousands):
Year Ended December 31,
202520242023
Total sales for reportable segments$298,486 $254,946 $279,412 
Elimination of intersegment sales(158)(252)(329)
Total consolidated sales$298,328 $254,694 $279,083 
Total gross margin for reportable segments54,816 29,082 36,846 
Elimination of intersegment sales(158)(252)(329)
Elimination of intersegment expenses158 252 329 
Unallocated amounts:
Selling and administrative36,705 32,966 32,423 
Impairment of long-lived assets1,866 10,708 43,288 
(Gain) loss on disposal of assets(1,175)1,952 807 
Accretion of asset retirement obligation2,603 2,489 2,140 
Other operating income(4,811)(5,215)(1,329)
Other operating expense8,963 6,040 3,486 
Equity in loss/(earnings) of unconsolidated entities374 299 486 
Interest expense, net232 112 — 
Interest income(2,432)(1,712)(298)
Other non-operating expense (income)762 (45)(95)
Income (loss) before income taxes$11,729 $(18,512)$(44,062)
In each of the last three years ended December 31, 2025, 2024, and 2023, 93%, 94%, and 95%, respectively, of our total sales were sold to customers located in the U.S. All of our long-lived assets are located in the U.S.
Total assets are not presented for each reportable segment as they are not reviewed by, nor otherwise regularly provided to, the chief operating decision maker.
v3.25.4
CONCENTRATION OF CREDIT RISK
 12 Months Ended
Dec. 31, 2025
Risks and Uncertainties [Abstract]  
CONCENTRATION OF CREDIT RISK CONCENTRATION OF CREDIT RISK
Credit risk represents the loss that would be recognized at the reporting date if counterparties failed completely to perform as contracted. Concentrations of credit risk, whether on- or off-balance sheet, that arise from financial instruments exist for counterparties when they have similar economic characteristics that would cause their ability to meet contractual obligations to be similarly affected by changes in economic or other conditions.
Our products are marketed for sale into three primary markets. These markets are the agricultural market as a fertilizer, the industrial market as a component in drilling fluids for oil and gas exploration, and the animal feed market as a nutrient. Credit risks associated with the collection of accounts receivable are primarily related to the impact of external factors on our customers. Our customers are distributors and end-users whose creditworthiness and ability to meet their payment obligations will be affected by factors in their industries and markets. Those factors include soil nutrient levels, crop prices, weather, the type of crops planted, changes in diets, growth in population, the amount of land under cultivation, fuel prices and consumption, oil and gas drilling and completion activity, the demand for biofuels, government policy, and the relative value of currencies. Our industrial sales are significantly influenced by oil and gas drilling activity.
In 2025, no customer accounted for 10% or more of our total consolidated revenues. In 2024, and 2023, we had one customer in our potash and Trio® segments that accounted for approximately $25.6 million, and $33.4 million of our total consolidated revenues, respectively. See Item 1A. "Risks Related to Financial Position, Indebtedness and Additional Capital Needs - The loss or substantial decline in revenue from larger customers or certain industries could have a material adverse effect on our revenues, profitability, and liquidity."
We maintain cash accounts with several financial institutions. At times, the balances in the accounts may exceed the $250,000 balance insured by the Federal Deposit Insurance Corporation.
v3.25.4
FINANCIAL INFORMATION FOR SUBSIDIARY GUARANTORS OF POSSIBLE FUTURE PUBLIC DEBT
 12 Months Ended
Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
FINANCIAL INFORMATION FOR SUBSIDIARY GUARANTORS OF POSSIBLE FUTURE PUBLIC DEBT FINANCIAL INFORMATION FOR SUBSIDIARY GUARANTORS
OF POSSIBLE FUTURE PUBLIC DEBT
    Intrepid Potash, Inc., as the parent company, has no independent assets or operations, and operations are conducted solely through its subsidiaries. Cash generated from operations is held at the parent company level as cash on hand and short- and long-term investments. Cash and cash equivalents totaled $83.5 million and $41.3 million at December 31, 2025, and 2024, respectively. In the event that one or more of our wholly-owned operating subsidiaries guarantee public debt securities in the future, those guarantees will be full and unconditional and will constitute the joint and several obligations of the subsidiary guarantors. Our other subsidiaries are minor. There are no restrictions on our ability to obtain cash dividends or other distributions of funds from the subsidiary guarantors, except those imposed by applicable law.
v3.25.4
SHARE REPURCHASE PROGRAM
 12 Months Ended
Dec. 31, 2025
Equity [Abstract]  
Share Repurchase Program SHARE REPURCHASE PROGRAM
In February 2022, our Board of Directors approved a $35 million share repurchase program. Under the share repurchase program, we may repurchase shares from time to time in the open market or in privately negotiated transactions. The timing, volume and nature of share repurchases, if any, will be at our sole discretion and will be dependent on market conditions, liquidity, applicable securities laws, and other factors. We may suspend or discontinue the share repurchase program at any time.
We made no repurchases of shares of our common stock for the twelve months ended December 31, 2025, 2024, and 2023. In 2022, we repurchased 608,657 shares of our common stock and paid $22.0 million under the share repurchase program.
As of December 31, 2025, we have approximately $13.0 million of remaining availability under the share repurchase program.
v3.25.4
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS
 12 Months Ended
Dec. 31, 2025
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]  
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS
(In thousands)
DescriptionBalance at Beginning of YearCharged to Costs and ExpensesDeductionsBalance at End of Year
For the Year Ended December 31, 2023
Allowances deducted from assets
Deferred tax assets - valuation allowance2,033 1,121 — 3,154 
Reserve for parts inventory obsolescence1,262 509 (856)915 
Allowance for doubtful accounts and other receivables555 110 — 665 
Total allowances deducted from assets$3,850 $1,740 $(856)$4,734 
For the Year Ended December 31, 2024
Allowances deducted from assets
Deferred tax assets - valuation allowance3,154 199,006 — 202,160 
Reserve for parts inventory obsolescence915 1,843 (1,521)1,237 
Allowance for doubtful accounts and other receivables665 120 (630)155 
Total allowances deducted from assets$4,734 $200,969 $(2,151)$203,552 
For the Year Ended December 31, 2025
Allowances deducted from assets
Deferred tax assets - valuation allowance202,160 — (3,264)198,896 
Reserve for parts inventory obsolescence1,237 2,422 (2,153)1,506 
Allowance for doubtful accounts and other receivables155 62 (67)150 
Total allowances deducted from assets$203,552 $2,484 $(5,484)$200,552 
v3.25.4
Insider Trading Arrangements
 3 Months Ended
Dec. 31, 2025
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.4
Insider Trading Policies and Procedures
 12 Months Ended
Dec. 31, 2025
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true
v3.25.4
Cybersecurity Risk Management and Strategy Disclosure
 12 Months Ended
Dec. 31, 2025
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]
We take cybersecurity seriously and have developed a cybersecurity program that consists of processes, policies, and controls for assessing, identifying, managing, and responding to material risks from these threats. Our cybersecurity program is
integrated within our broader risk management function that identifies, monitors, and mitigates business, operational, financial, and legal risks.
Our processes include controls that our Director of Information Technology and our Technology Department implement, which seek to protect our company, assets, information, and our employees from cyber threats, and provide regular education for our employees.
For example, as part of our cybersecurity program, we have implemented controls that are designed to prohibit unauthorized access to our systems. These include password requirements, onboarding and termination processes, multi-factor authentication, and other condition-based access controls. We also use external controls and security systems that identify and prevent malicious activity or unauthorized access on an ongoing basis such as firewalls, endpoint protection, intrusion detection, and email security, among others.
In addition, our intrusion detection systems identify patterns of behavior consistent with attack methods, as well as other anomalous behavior on our network. This technology acts autonomously to block activities deemed to be high risk. Our endpoint protection system is monitored twenty-four hours a day, seven days a week, by a third-party service provider who investigates every alert and remotely resolves issues such as removal of malware, blocking malicious activity, or by quarantining systems from the network if necessary.
We recognize that cybersecurity incidents are often a result of employees’ actions, including responding to phishing emails, opening malicious attachments, or visiting compromised websites. Therefore, another aspect of our cybersecurity program focuses on preventing such incidents by way of strong email security, web browsing protection systems, and by providing regular education and communication to our employees to increase their cybersecurity awareness of how to detect and respond to cyber threats. We periodically assess our employees’ awareness level of these risks by conducting periodic phishing tests.
In the event of an incident, meaning a compromise is not contained by our security systems and has the potential to adversely impact the organization, we have a structured Incident Response Plan in place that is based on National Institute of Standards and Technology ("NIST") guidelines that provide rules for communicating incidents to management based on defined categorizations of the incident, as well as an orderly process for addressing and documenting the incident. As part of our business continuity and disaster recovery strategy, we have a strong backup and off-site data replication process, including an air-gap data vault solution for replication of backups of critical systems. Restorations from these systems are tested on a quarterly basis.
We use a third party to perform annual security assessments. This includes both external penetration testing and internal vulnerability testing, as well as a security program maturity assessment based on the NIST framework. External testing consists of scanning all our public IP addresses for open ports and determining if any device or service on those ports have known vulnerabilities. Internal vulnerability testing is performed from within the network to determine if any known vulnerabilities exist due to outdated patches or insecure configurations. The security program maturity assessment is a review of our policies and practices against a set of standard best practice controls identified by the NIST to determine a maturity level score. We use this assessment to focus our efforts on continually improving our cybersecurity policies and practices. We currently do not have any formal processes to oversee or identify cybersecurity risks associated with third-party service providers but our Director of Information Technology generally evaluates such risks.
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block] Our cybersecurity program is
integrated within our broader risk management function that identifies, monitors, and mitigates business, operational, financial, and legal risks.
Our processes include controls that our Director of Information Technology and our Technology Department implement, which seek to protect our company, assets, information, and our employees from cyber threats, and provide regular education for our employees.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] false
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Board of Directors Oversight [Text Block]
Our Board of Directors, in coordination with the Audit Committee, oversees our risk management program, including the management of cyber threats. The Board of Directors and senior management are actively involved in reviewing our information security and cybersecurity strategies and updating as risks evolve.
Our Board of Directors and our Audit Committee each receive annual presentations and reports from our Director of Information Technology on developments in the cybersecurity space, including risk management practices, evolving standards, vulnerability assessments, third-party and independent reviews, the threat environment, technological trends, and information security issues encountered by our peers and third parties. In addition, on an annual basis, our Board of Directors and the Audit Committee discuss our approach to overseeing cybersecurity threats with our Director of Information Technology and other members of senior management to better assess our approach to cyber threats.
When a threat or other issue is identified, our Director of Information Technology will notify the senior management team and initiate the appropriate response plan based on the criticality of the threat or issue. Our Director of Information Technology along with our management team, which includes our Chief Executive Officer, Chief Financial Officer, and General Counsel, will coordinate to execute the appropriate response plan and will also investigate any issue to determine whether an incident is material, requiring disclosure to shareholders in SEC filings. Our Board of Directors and our Audit
Committee also receive prompt and timely information regarding any cybersecurity risk and ongoing updates regarding any such risk.
Our Director of Information Technology has over thirty years of experience in information technology, which includes the past twenty years managing Intrepid's information technology infrastructure, business applications, compliance programs, and cybersecurity systems. Although our management team and Audit Committee receive information regarding our cybersecurity program and help assess our strategy based on their knowledge of our business and industry, no member of the management team or Audit Committee has technology or cybersecurity expertise. Certain members of the Audit Committee have experience with cybersecurity programs and implementing cybersecurity procedures as leaders of businesses and through their service on other boards. Risks from cybersecurity threats have not materially affected our company, including our business strategy, results of operations, or financial condition. While we believe our approach to cybersecurity is reasonable, given the rapidly evolving nature of cybersecurity incidents, there can be no assurance that the controls we have designed and implemented will be sufficient in preventing future incidents or attacks.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block] Our Board of Directors, in coordination with the Audit Committee, oversees our risk management program, including the management of cyber threats. The Board of Directors and senior management are actively involved in reviewing our information security and cybersecurity strategies and updating as risks evolve.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]
Our Board of Directors and our Audit Committee each receive annual presentations and reports from our Director of Information Technology on developments in the cybersecurity space, including risk management practices, evolving standards, vulnerability assessments, third-party and independent reviews, the threat environment, technological trends, and information security issues encountered by our peers and third parties. In addition, on an annual basis, our Board of Directors and the Audit Committee discuss our approach to overseeing cybersecurity threats with our Director of Information Technology and other members of senior management to better assess our approach to cyber threats.
Cybersecurity Risk Role of Management [Text Block]
When a threat or other issue is identified, our Director of Information Technology will notify the senior management team and initiate the appropriate response plan based on the criticality of the threat or issue. Our Director of Information Technology along with our management team, which includes our Chief Executive Officer, Chief Financial Officer, and General Counsel, will coordinate to execute the appropriate response plan and will also investigate any issue to determine whether an incident is material, requiring disclosure to shareholders in SEC filings. Our Board of Directors and our Audit
Committee also receive prompt and timely information regarding any cybersecurity risk and ongoing updates regarding any such risk.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block] Our Director of Information Technology along with our management team, which includes our Chief Executive Officer, Chief Financial Officer, and General Counsel, will coordinate to execute the appropriate response plan and will also investigate any issue to determine whether an incident is material, requiring disclosure to shareholders in SEC filings.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block] Our Director of Information Technology has over thirty years of experience in information technology, which includes the past twenty years managing Intrepid's information technology infrastructure, business applications, compliance programs, and cybersecurity systems. Although our management team and Audit Committee receive information regarding our cybersecurity program and help assess our strategy based on their knowledge of our business and industry, no member of the management team or Audit Committee has technology or cybersecurity expertise. Certain members of the Audit Committee have experience with cybersecurity programs and implementing cybersecurity procedures as leaders of businesses and through their service on other boards.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]
When a threat or other issue is identified, our Director of Information Technology will notify the senior management team and initiate the appropriate response plan based on the criticality of the threat or issue. Our Director of Information Technology along with our management team, which includes our Chief Executive Officer, Chief Financial Officer, and General Counsel, will coordinate to execute the appropriate response plan and will also investigate any issue to determine whether an incident is material, requiring disclosure to shareholders in SEC filings. Our Board of Directors and our Audit
Committee also receive prompt and timely information regarding any cybersecurity risk and ongoing updates regarding any such risk.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.25.4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)
 12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Basis of Presentation Our consolidated financial statements include our accounts and those of our wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.
Use of Estimates The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities as of the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. We base our estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Accordingly, actual results may differ significantly from these estimates under different assumptions or conditions.
    Significant estimates include, but are not limited to, those for proven and probable mineral reserves, the related present value of estimated future net cash flows, useful lives of plant assets, asset retirement obligations, normal inventory production levels, inventory valuations, the valuation of equity awards, revenue from products we sell to customers where the price is variable, the valuation of receivables, estimated future net cash flows used in long-lived assets impairment analysis, the related valuation of our long-lived assets, valuation of our deferred tax assets and estimated blended income tax rates utilized in the current and deferred income tax calculations. There are numerous uncertainties inherent in estimating quantities of proven and probable reserves, projecting future rates of production, and the timing of development expenditures. Future mineral prices may vary significantly from the prices in effect at the time the estimates are made, as may estimates of future operating costs. The estimate of proven and probable mineral reserves, the related present value of estimated future cash flows, and useful lives of plant assets can affect various other items including depletion, the net carrying value of our
mineral properties, the useful lives of related property, plant, and equipment, depreciation expense, and estimates associated with recoverability of long-lived assets and asset retirement obligations. Specific to income tax items, we experience fluctuations in the valuation of the deferred tax assets and liabilities due to changing income tax rates and the blend of state tax rates.
Revenue Recognition We account for revenue in accordance with Accounting Standards Codification ("ASC") Topic 606 Revenue from Contracts with Customers ("ASC 606"). Under ASC 606, we recognize revenue when control of the promised goods or services is transferred to customers in an amount that reflects the consideration we expect to be entitled in exchange for those goods or services.
Performance Obligation A performance obligation is a promise in a contract to transfer a distinct good or service to the customer and is the unit of account in ASC 606. The contract's transaction price is allocated to the performance obligations and recognized as revenue when the performance obligations are satisfied. Substantially all our contracts are of a short-term nature and contain a single performance obligation because the sale is for one type of product and shipping and handling charges are accounted for as a fulfillment cost and are not considered to be a separate performance obligation. The performance obligation is satisfied when control of the product is transferred to the customer, which typically occurs when we ship mineral products or deliver water from our facility to the customer. We account for substantially all of our revenue from sales to customers at a single point in time.
Contract Estimates In certain circumstances, we may sell products to customers where the sales price is variable. For variable consideration sales, we estimate the sales price we expect to realize at contract inception based on the facts and circumstances for each sale, including historical experience, and recognize revenue to the extent it is probable that a subsequent change in estimate will not result in a significant revenue reversal compared to the cumulative revenue recognized once the uncertainty is resolved. We update variable consideration estimates at each reporting date for any changes in facts and circumstances and adjust financial information as necessary in the period the change is identified.
Contract Balances The timing of revenue recognition, billings, and cash collection may result in contract assets or contract liabilities. For certain contracts, the customer has agreed to pay us before we have satisfied our performance obligations. Customer payments received before we have satisfied our performance obligations are accounted for as a contract liability.
Disaggregation of Revenue We present disaggregation of revenue by products which we believe best depicts how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic conditions.
Inventory and Long-Term Parts Inventory Inventory consists of product and byproduct stocks that are ready for sale; mined ore; potash in evaporation ponds, which is considered work-in-process; and parts and supplies inventory. Product and byproduct inventory cost is determined using the lower of weighted average cost or estimated net realizable value and includes direct costs, maintenance, operational overhead, depreciation, depletion, and equipment lease costs applicable to the production process. Direct costs, maintenance, and operational overhead include labor and associated benefits.
We evaluate our production levels and costs to determine if any should be deemed abnormal and therefore excluded from inventory costs and expensed directly during the applicable period. The assessment of normal production levels is judgmental and unique to each period. We model normal production levels and evaluate historical ranges of production by operating plant in assessing what is deemed to be normal. Each production operation typically shuts down periodically for planned maintenance activities. The costs of maintenance turnarounds at our facilities are considered part of production costs and are absorbed into inventory in the period incurred.
    Parts inventory, including critical spares not expected to be used within a period of one year, is classified as non-current. Parts and supply inventory cost is determined using the lower of average acquisition cost or net realizable value. Detailed reviews are performed related to the net realizable value of parts inventory, giving consideration to quality, slow-moving items, obsolescence, excessive levels, and other factors. Parts inventories that have not turned over in more than a year, excluding parts classified as critical spares, are reviewed for obsolescence and, if deemed appropriate, are included in the determination of an allowance for obsolescence.
Property, Plant, Equipment, Mineral Properties and Development Costs Property, plant, and equipment are stated at historical cost. Expenditures for property, plant, and equipment relating to new assets or improvements are capitalized, provided the expenditure extends the useful life of an asset or extends the asset's functionality. Property, plant, and equipment are depreciated under the straight-line method using estimated useful lives. The estimated useful lives of property, plant, and equipment are evaluated periodically as changes in estimates occur. No depreciation is taken on assets classified as construction in progress until the asset is placed into service. Gains and losses are recorded upon retirement, sale, or disposal of assets. Maintenance and repair costs are recognized as period costs when incurred. Capitalized interest, to the
extent of debt outstanding, is calculated and capitalized on assets that are being constructed, drilled, or built or that are otherwise classified as construction in progress.
Mineral properties and development costs, which are referred to collectively as mineral properties, include acquisition costs, the cost of drilling production wells, and the cost of other development work, all of which are capitalized. Exploration costs include geological and geophysical work performed on areas that do not yet have proven and probable reserves declared. These costs are expensed as incurred. Depletion of mineral properties is calculated using the units-of-production method over the estimated product tons in the relevant ore body. The lives of reserves used for accounting purposes are shorter than current reserve life determinations due to uncertainties inherent in long-term estimates. These reserve life estimates have been prepared by us and reviewed and independently determined by mine consultants. Tons of potash and langbeinite in the proven and probable reserves are expressed in terms of expected finished tons of product to be realized, net of estimated losses. Market price fluctuations of potash or Trio®, as well as increased production costs or reduced recovery rates, could render proven and probable reserves containing relatively lower grades of mineralization uneconomic to exploit and might result in a reduction of reserves. In addition, the provisions of our mineral leases, including royalty provisions, are subject to periodic readjustment by the state and federal government, which could affect the economics of our reserve estimates. Significant changes in the estimated reserves could have a material impact on our results of operations and financial position.
Recoverability of Long-Lived Assets We evaluate our long-lived assets for impairment when events or changes in circumstances indicate that the related carrying amount may not be recoverable. An impairment is potentially considered to exist if an asset group's total estimated net future cash flows on an undiscounted basis are less than the carrying amount of the related asset. An impairment loss is measured and recorded based on the excess of the carrying amount of long-lived assets over its estimated fair value. Changes in significant assumptions underlying future cash flow estimates or fair values of asset groups may have a material effect on our financial position and results of operations. Sales price is a significant element of any cash flow estimate, particularly for higher cost operations. Other assumptions we estimate include, among other things, the economic life of the asset, sales volume, inflation, raw materials costs, cost of capital, tax rates, and capital spending.
Factors we generally will consider important and which could trigger an impairment review of the carrying value of long-lived assets include the following:
•significant underperformance relative to expected operating results or operating losses
•significant changes in the manner of use of assets or the strategy for our overall business
•the denial or delay of necessary permits or approvals that would affect the utilization of our tangible assets
•underutilization of our tangible assets
•discontinuance of certain products by us or our customers
•a decrease in estimated mineral reserves
•significant negative industry or economic trends
Intangible Assets Water rights are accounted for as indefinite-lived intangible assets. We test indefinite-lived intangible assets for impairment at least annually on October 1, and more frequently if circumstances require. We use a qualitative assessment to determine whether it is more likely than not that the fair value of the unamortized intangible asset is less than its carrying value. If our qualitative assessment indicates it is more likely than not that the fair value of the unamortized assets is less than its carrying value, we estimate the fair value of the unamortized asset and record an impairment loss based on the excess of the carrying amount of the unamortized intangible asset over its estimated fair value. Fair value is estimated using quoted market prices, if available. If quoted market prices are not available, the estimated fair value is based on various valuation techniques, including the discounted value of estimated future cash flows. Changes in significant assumptions underlying fair value estimates may have a material effect on our financial position and results of operations.
We also have finite-lived intangible assets consisting of contractual agreements. These intangible assets are amortized over the period of estimated benefit using the straight-line method. No significant residual value is estimated for our finite-lived intangible assets. We estimate the useful life of intangible assets considering various factors, including but not limited to, the expected use of the asset, the expected life of other assets the intangible asset may relate, any legal, regulatory, contractual provisions, or relevant economic factors that may limit the use of the intangible asset. We evaluate the remaining useful lives of intangible assets each reporting period to determine if a revision to the asset's remaining life is necessary. Changes in significant assumptions underlying useful lives may have a material effect on our financial position and results of operations.
We evaluate our finite-lived intangible assets for impairment when events or changes in circumstances indicate that the related carrying amount may not be recoverable. Such circumstances may include but are not limited to (1) significant
adverse changes in the manner the asset is used, or (2) significant adverse changes in legal factors or economic conditions, including adverse actions by regulatory authorities.
Asset Retirement Obligation Reclamation costs are initially recorded as a liability associated with the asset to be reclaimed or abandoned, based on applicable inflation assumptions and discount rates. The accretion of this discounted liability is recognized as expense over the life of the related assets, and the liability is periodically adjusted to reflect changes in the estimates of either the timing or amount of the reclamation and abandonment costs.
Leases We determine if an arrangement is a lease or contains a lease at inception. Operating and finance lease liabilities are recognized based on the present value of the remaining lease payments, discounted using the discount rate for the lease at the commencement date. If readily determinable, we use the implicit rate in the lease to determine the present value of future lease payments. If the implicit rate is not readily determinable, we use an incremental borrowing rate based on information available at the commencement date to determine the present value of future lease payments. Operating right-of-use ("ROU") assets and finance lease assets are generally recognized based on the amount of the initial measurement of the lease liability. Lease expense for operating lease payments is recognized on a straight-line basis over the lease term. For finance leases, interest expense is recognized on the lease liability and the ROU asset is amortized over the lease term. We account for lease and non-lease components as a single lease component, and we do not apply the requirements of ASC Topic 842 to short-term leases with a term of one year or less at inception.
Income Taxes We are a subchapter C corporation and, therefore, are subject to U.S. federal and state income taxes. We recognize income taxes under the asset and liability method. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using the enacted tax rates expected to apply to taxable income in the periods in which the deferred tax liability or asset is expected to be settled or realized. We record a valuation allowance if it is deemed more likely than not that our deferred income tax assets will not be realized in full. These determinations are subject to ongoing assessment.
Cash and Cash Equivalents Cash and cash equivalents consist of cash and liquid investments with an original maturity of three months or less.
We classify our investments in debt securities, which include U.S treasury and government agency obligations, and corporate bonds and notes, as held-to-maturity investments because we have the intent and ability to hold these investments to maturity. Our held to maturity investments are carried at amortized cost.
We use the equity method of accounting for investments in limited partnerships where we own more than 3% of the limited partnership, as required by the Securities and Exchange Commission. Under this method of accounting, we record our share of the net earnings or losses of the investee in the "Other Income (Expense)" section of our Consolidated Statements of Operations.
We record equity investments without a readily determinable fair value using the measurement alternative of cost, with adjustments for observable changes in prices resulting from orderly transactions for the identical or similar investments of the same issuer, or impairment.
Fair Value of Financial Instruments Our financial instruments include cash and cash equivalents, restricted cash, accounts receivable, refundable income taxes, accounts payable and current accrued liabilities. These instruments are carried at cost, which approximates fair value due to the short-term maturities of the instruments. Allowances for doubtful accounts are recorded against the accounts receivable balance to estimate net realizable value. Amounts outstanding under our secured credit facility are carried at cost, which approximates fair value, due to the short-term nature of the borrowings.
Earnings per Share Basic net income or loss per common share of stock is calculated by dividing net income or loss available to common stockholders by the weighted average basic common shares outstanding for the respective period.
Diluted net income per common share of stock is calculated by dividing net income or loss available to common stockholders by the weighted average diluted common shares outstanding, which includes the effect of potentially dilutive securities. Potentially dilutive securities for the diluted earnings or loss per share calculation consist of awards of restricted shares, performance units, and non‑qualified stock options. The dilutive effect of stock-based compensation arrangements is computed using the treasury‑stock method. Following the lapse of the vesting period of restricted shares, the shares are considered issued and therefore are included in the number of issued and outstanding shares for purposes of these calculations. When we report a net loss, all potentially dilutive securities are considered anti-dilutive and are excluded from the dilutive loss per share calculation.
Treasury Stock Repurchases of our common stock are accounted for at cost and are recorded as treasury stock.
Stock-Based Compensation We account for stock-based compensation by recording expense using the fair value of the awards at the time of grant. We have recorded compensation expense associated with the issuance of restricted shares, performance units, and non-qualified stock options, all of which are subject to service conditions and in some cases subject to operational performance or market-based conditions. We recognize expense associated with such awards over the service period associated with each grant. For awards with service only conditions we recognize expense using the straight-line recognition method over the requisite service period of the award, which is generally the vesting period of the award. We recognize expense for awards with service and operational performance conditions using the accelerated recognition method over the requisite service period of the award, which is generally the vesting period of the award. We recognize expense associated with awards that contain both a service condition and a market condition using the accelerated recognition method over the requisite service period of the award, which is generally the longer of the explicit service period or the derived service period (expected date the market condition is estimated to be achieved).
Recently Adopted Accounting Standards In December 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2023-09, Improvements to Income Tax Disclosures, which requires that an entity, on an annual basis, disclose additional income tax information, including more detailed breakdowns of the effective tax rate to the statutory rate and income taxes paid. The amendment in the ASU is intended to enhance the transparency and decision usefulness of income tax disclosures. The guidance will be applied on a prospective basis with the option to apply the standard retrospectively and is effective for calendar year-end public business entities in the 2025 annual period and in 2026 for interim periods with early adoption permitted. We adopted the standard in our fiscal year 2025 annual financial statements prospectively. For additional information, refer to Note 14 Income Taxes, in our Consolidated Financial Statements.
Pronouncements Issued But Not Yet Adopted In November 2024, the FASB issued ASU 2024-03, "Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40)" ("ASU 2024-03"). ASU 2024-03 requires additional disclosures about the nature of expenses included in the income statement, such as purchases of inventory, employee compensation and depreciation. ASU 2024-03 is effective for public business entities for annual periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. We are currently evaluating the guidance and expect it to only impact disclosures with no impact to results of operations, cash flows and financial condition.In July 2025, the FASB issued ASU 2025-05, "Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets" ("ASU 2025-05"). ASU 2025 amends the guidance in ASC 326 to simplify the estimation of credit losses on current accounts receivable and current contract assets arising from transactions accounted for under ASC 606. The amendments allow all entities to elect a practical expedient to assume that the current conditions as of the balance sheet date will remain unchanged for the remaining life of the asset when developing a reasonable and supportable forecast as part of estimating expected credit losses on these assets. Entities are required to disclose their practical expedient and accounting policy elections. The amendments are effective for fiscal years beginning after December 15, 2025, and interim periods within those fiscal years. We are currently evaluating the guidance but do not expect adoption of ASU 2025-05 will have a material impact on our consolidated financial statements.
v3.25.4
EARNINGS PER SHARE (Tables)
 12 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted The following table shows the calculation of basic and diluted earnings (loss) per share (in thousands, except per share amounts):
Year Ended December 31,
202520242023
Net income (loss) $11,185 $(212,845)$(35,673)
Basic weighted average common shares outstanding13,014 12,880 12,761 
Add: Dilutive effect restricted common stock120 — — 
Add: Dilutive effect of stock options outstanding38 — — 
Add: Dilutive effect of performance units2 — — 
Diluted weighted average common shares outstanding13,174 12,880 12,761 
Earnings (loss) per share:
Basic$0.86 $(16.53)$(2.80)
Diluted$0.85 $(16.53)$(2.80)
Schedule of Anti-Dilutive Shares Excluded From The Calculation of Diluted Loss Per Share The following table shows anti-dilutive shares excluded from the calculation of diluted earnings (loss) per share (in thousands):
Year Ended December 31,
202520242023
Anti-dilutive effect of restricted shares and units186 287 348 
Anti-dilutive effect of stock options outstanding117 273 273 
v3.25.4
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH (Tables)
 12 Months Ended
Dec. 31, 2025
Cash and Cash Equivalents [Abstract]  
Cash, Cash Equivalents, And Restricted Cash Total cash, cash equivalents and restricted cash, as shown on the consolidated statements of cash flows are included in the following accounts at December 31, 2025, 2024, and 2023 (in thousands):
Year Ended December 31,
202520242023
Cash and cash equivalents$83,537 $41,309 $4,071 
Restricted cash included in "Other current assets"25 25 25 
Restricted cash included in "Other assets, net"573 564 555 
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows$84,135 $41,898 $4,651 
v3.25.4
INVENTORY AND LONG-TERM PARTS INVENTORY (Tables)
 12 Months Ended
Dec. 31, 2025
Inventory Disclosure [Abstract]  
Summary of Inventory
The following summarizes our inventory, recorded at the lower of weighted average cost or estimated net realizable value as of December 31, 2025, and 2024, respectively (in thousands):
December 31,
20252024
Finished goods product inventory$63,893 $68,197 
In-process inventory32,858 28,329 
Total product inventory96,751 96,526 
Current parts inventory, net15,554 16,442 
Total current inventory, net112,305 112,968 
Long-term parts inventory, net31,506 33,775 
Total inventory, net$143,811 $146,743 
v3.25.4
PROPERTY, PLANT, EQUIPMENT AND MINERAL PROPERTIES (Tables)
 12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Line Items]  
Schedule of Property, Plant, Equipment, And Mineral Properties Property, plant, equipment, and mineral properties, net" were comprised of the following (in thousands):
December 31,
20252024
Land$24,032 $24,136 
Ponds and land improvements98,639 95,787 
Mineral properties and development costs159,892 161,826 
Buildings and plant97,987 95,439 
Machinery and equipment331,545 318,545 
Vehicles8,885 8,152 
Office equipment and leasehold improvements10,164 10,613 
Operating lease ROU assets3,181 4,571 
Breeding stock223 277 
Construction in progress14,003 6,423 
Total property, plant, equipment, and mineral properties, gross$748,551 $725,769 
Less: accumulated depreciation, depletion, and amortization(413,778)(381,431)
Total property, plant, equipment, and mineral properties, net$334,773 $344,338 
Schedule of Depreciation, Depletion Amortization and Accretion
We incurred the following expenses for depreciation, depletion, and amortization of ROU assets, including expenses capitalized into inventory, for the following periods (in thousands):
Year Ended December 31,
202520242023
Depreciation$33,938 $31,390 $34,307 
Depletion5,035 4,627 3,190 
Amortization of ROU assets1,268 1,344 1,581 
Total incurred$40,241 $37,361 $39,078 
v3.25.4
LEASES (Tables)
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Leases Recorded on Balance Sheets Leases recorded on the balance sheet consist of the following (amounts in thousands):
LeasesClassification on the Balance SheetBalance, December 31, 2025Balance, December 31, 2024
Assets
Operating lease ROU assets, netProperty, plant, equipment, and mineral properties, net$2,245 $1,437 
Finance lease ROU assets, netProperty, plant, equipment, and mineral properties, net$3,435 $2,934 
Liabilities
Current operating lease liabilitiesOther current liabilities$983 $679 
Current finance lease liabilityOther current liabilities$1,035 $951 
Non-current operating lease liabilitiesOperating lease liabilities$1,550 $780 
Non-current finance lease liabilitiesFinance lease liabilities$1,741 $1,838 
Other Information Related to Lease Term and Discount Rate, and Components of Lease Expense Other information related to lease term and discount rate is as follows:
December 31,
20252024
Weighted average remaining lease term - operating leases3.0 years3.9 years
Weighted average remaining lease term - finance leases 3.7 years3.0 years
Weighted average discount rate - operating leases7.6 %7.0 %
Weighted average discount rate - finance leases7.8 %7.6 %

    The components of lease expense are as follows (amounts in thousands):
    
Year Ended December 31,
202520242023
Operating lease expense$1,468 $1,443 $1,667 
Short-term lease expense82 79 122 
     Total lease expense$1,550 $1,522 $1,789 

    Supplemental cash flow information related to leases was as follows (amounts in thousands):
Year Ended December 31,
20252024
Cash paid for amounts included in the measurement of lease liabilities
   Operating cash flows from operating leases$1,582 $1,516 
   Operating cash flows from finance leases220 185 
   Financing cash flows from finance leases1,043 942 
Right-of-Use Assets exchanged for new operating lease liabilities2,185 751 
Right-of-Use Assets exchanged for new finance lease liabilities1,380 1,562 
Maturities of Lease Liabilities As of December 31, 2025, maturities of lease liabilities are summarized as follows (amounts in thousands):
Years Ending December 31,Operating LeasesFinance LeasesTotal
2026$1,141 $1,203 $2,344 
20271,068 628 1,696 
2028255 604 859 
2029150 376 526 
2030139 165 304 
Thereafter92 248 340 
Total future minimum lease payments$2,845 3,224 6,069 
Less - amount representing interest312 448 760 
Present value of future minimum lease payments$2,533 2,776 5,309 
Less - current lease obligations983 1,035 2,018 
Long-term lease obligations$1,550 $1,741 $3,291 
v3.25.4
INTANGIBLE ASSETS (Tables)
 12 Months Ended
Dec. 31, 2025
Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Assets
As of December 31, 2025, and December 31, 2024, we have the following amounts recorded for intangible assets (amounts in thousands):
December 31, 2025December 31, 2024
Finite-lived intangible assets:Gross Carrying AmountAccumulated AmortizationGross Carrying AmountAccumulated Amortization
Produced water disposal royalty agreements
$2,694 $(900)$2,694 $(765)
Surface damage and easement agreements
3,723 (1,245)3,723 (1,058)
Other intangibles200 (13)200 (7)
Total
$6,617 $(2,158)$6,617 $(1,830)
Indefinite-lived intangible assets:
Water rights
$19,184 $19,184 
v3.25.4
DEBT (Tables)
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Schedule Of Interest Expense Debt Amounts included in interest expense for the years ended December 31, 2025, 2024, and 2023 (in thousands) are as follows:
Year ended December 31,
202520242023
Interest expense on borrowings$230 $182 $275 
Commitment fee on unused credit facility228 229 226 
Amortization of deferred financing costs301 301 301 
Gross interest expense759 712 802 
Less capitalized interest527 600 802 
Interest expense, net$232 $112 $— 
v3.25.4
ASSET RETIREMENT OBLIGATION (Tables)
 12 Months Ended
Dec. 31, 2025
Asset Retirement Obligation Disclosure [Abstract]  
Schedule of changes to asset retirement obligations
Following is a table of the changes to our asset retirement obligations for the following periods (in thousands):
Year Ended December 31,
202520242023
Asset retirement obligation, at beginning of period$32,949 $30,359 $26,864 
Liabilities settled(48)— (197)
Liabilities incurred— 524 — 
Changes in estimated obligations3,337 (423)1,552 
Accretion of discount2,603 2,489 2,140 
Total asset retirement obligation, at end of period$38,841 $32,949 $30,359 
Less current portion of asset retirement obligation$— $(595)$(282)
Long-term portion of asset retirement obligation$38,841 $32,354 $30,077 
v3.25.4
REVENUE (Tables)
 12 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
Contract Balances The timing of revenue recognition, billings, and cash collection may result in contract assets or contract liabilities. For certain contracts, the customer has agreed to pay us before we have satisfied our performance obligations. Customer payments received before we have satisfied our performance obligations are accounted for as a contract liability.As of December 31, 2025, and 2024, we had $2.5 million and $2.4 million of contract liabilities, respectively, of which $0.8 million and $0.8 million were current as of December 31, 2025, and 2024, respectively, and included in "Other current liabilities" on the Consolidated Balance Sheets. Customer advances received before we have satisfied our performance obligations are accounted for as a contract liability (sometimes referred to in practice as deferred revenue).
Our contract liability activity for the years ended December 31, 2025, 2024, and 2023 is shown below (in thousands):
Year Ended December 31,
202520242023
Beginning balance$2,431 $2,303 $2,374 
Additions1,345 1,701 1,030 
Recognized as revenue during period from the beginning balance(1,292)(1,573)(1,101)
Ending balance$2,484 $2,431 $2,303 
Disaggregation of Revenue The table below shows the disaggregation of revenue by product and reconciles disaggregated revenue to segment revenue for the years ended December 31, 2025, 2024, and 2023. We believe the disaggregation of revenue by products best depicts how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic conditions (in thousands):
Year Ended December 31, 2025
ProductPotash Segment
Trio® Segment
Oilfield Solutions SegmentIntersegment EliminationsTotal
Potash$115,003 $— $— $(158)$114,845 
Trio®
— 143,966 — — 143,966 
Water— — 3,173 — 3,173 
Salt11,657 497 — — 12,154 
Magnesium Chloride6,191 — — — 6,191 
Brines6,732 — 4,316 — 11,048 
Other— — 6,951 — 6,951 
Total Revenue$139,583 $144,463 $14,440 $(158)$298,328 
Year Ended December 31, 2024
ProductPotash Segment
Trio® Segment
Oilfield Solutions SegmentIntersegment EliminationsTotal
Potash$100,199 $— $— $(252)$99,947 
Trio®
— 104,773 — — 104,773 
Water— — 13,602 — 13,602 
Salt12,378 655 — — 13,033 
Magnesium Chloride5,324 — — — 5,324 
Brines6,932 — 4,204 — 11,136 
Other— — 6,879 — 6,879 
Total Revenue$124,833 $105,428 $24,685 $(252)$254,694 


Year Ended December 31, 2023
ProductPotash Segment
Trio® Segment
Oilfield Solutions SegmentIntersegment EliminationsTotal
Potash$131,206 $— $— $(329)$130,877 
Trio®
— 96,344 — — 96,344 
Water297 5,316 9,569 — 15,182 
Salt11,973 522 — — 12,495 
Magnesium Chloride8,161 — — — 8,161 
Brines4,283 — 4,056 — 8,339 
Other— — 7,685 — 7,685 
Total Revenue$155,920 $102,182 $21,310 $(329)$279,083 
v3.25.4
COMPENSATION PLANS (Tables)
 12 Months Ended
Dec. 31, 2025
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of restricted shares
The table below shows the RSU activity and the RSUs outstanding for the years ended December 31, 2025, and 2024. We did not issue any RSUs during the year ended December 31, 2023.
Restricted Stock UnitsWeighted Average Grant Date Fair Value
Outstanding December 31, 2023—$—
Granted111,285$16.25
Vested—$—
Forfeited—$—
Outstanding December 31, 2024111,285$16.25
Granted94,586$23.53
Vested(4,064)$24.72
Forfeited(6,221)$23.53
Outstanding December 31, 2025195,586$19.36
Summary of stock option activity A summary of all stock option activity for the year ended December 31, 2025, is as follows:
SharesWeighted Average Exercise Price
Aggregate Intrinsic Value1
Weighted Average Remaining Contractual Life
Outstanding non-qualified stock
   options, beginning of period		273,206 $29.04
Granted— $—
Exercised(115,993)$15.88
Forfeited(155,818)$39.00
Expired— $—
Outstanding non-qualified stock
   options, end of period		1,395 $10.30$24,3150.3
Vested or expected to vest,
   end of period		1,395 $10.30$24,3150.3
Exercisable non-qualified
    stock options, end of period		1,395 $10.30$24,3150.3
1The intrinsic value of a stock option is the amount by which the market value exceeds the exercise price as of the end of the period presented.
Restricted Shares [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of restricted share activity and the restricted shares outstanding
The table below shows the restricted share activity and the restricted shares outstanding for the years ended December 31, 2025, 2024 and 2023.
Restricted SharesWeighted Average Grant Date Fair Value
Outstanding December 31, 2022300,268$40.25
Granted247,343$25.05
Vested(177,771)$24.98
Forfeited(28,916)$42.63
Outstanding December 31, 2023340,924$36.98
Granted256,129$21.88
Vested(138,668)$29.22
Forfeited(139,350)$30.10
Outstanding December 31, 2024319,035$31.23
Granted135,829$30.10
Vested(142,160)$25.52
Forfeited(25,359)$23.81
Outstanding December 31, 2025287,345$27.01
Schedule Of Share Based Payment Award Valuation Assumptions
Valuation models require the input of highly subjective assumptions, including the expected volatility of the price of the underlying stock. We used the following assumptions to compute the weighted-average grant date fair market value of restricted stock with service and market conditions granted in 2024, and 2023:

20242023
Closing stock price on grant date$19.37 $26.05 
Risk free interest rate4.5 %3.6 %
Dividend yield— %— %
Estimated volatility67.6 %82.9 %
Expected life3.0 years3.8 years
Service And Market Condition Based Vesting [Member] | Restricted Stock Units (RSUs) [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule Of Share Based Payment Award Valuation Assumptions
We used the following assumptions to compute the weighted-average grant date fair market value of RSUs granted with service and market conditions granted in 2025 and 2024:

Granted in 2025Granted in 2024
Absolute TSR RSU AwardRelative TSR RSU AwardAbsolute TSR RSU AwardRelative TSR RSU Award
Closing stock price on grant date$29.18 $30.74 $27.39 $27.39 
Risk free interest rate4.03 %3.97 %4.05 %4.07 %
Dividend yield— %— %— %— %
Estimated volatility62.7 %58.1 %67.8 %62.2 %
Expected life4.0 years3.0 years4.1 years3.1 years
v3.25.4
INCOME TAXES (Tables)
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Schedule of Income Tax Provision
A summary of the provision for income taxes is as follows (in thousands):
Year Ended December 31,
202520242023
Current portion of income tax expense (benefit):
   Federal$— $— $— 
   State544 110 82 
Deferred portion of income tax expense (benefit):
   Federal— 146,457 (8,538)
   State— 47,766 67 
Total income tax expense (benefit) $544 $194,333 $(8,389)
Reconciliation of The Statutory Rate to The Effective Rate The following table is a reconciliation of the federal statutory income tax rate of 21% to our effective rate for the year ended December 31, 2025, in accordance with the guidance in ASU 2023-09 (in thousands, except percentages):
Year Ended December 31, 2025
Tax AmountTax Rate
Federal tax at statutory rate$2,463 21.0 %
State taxes, net of federal benefit544 4.6 %
Change in valuation allowance(2,521)(21.5)%
Non-deductible items:
  Officers' compensation519 4.4 %
  Fines and penalties457 3.9 %
  Meals and entertainment38 0.3 %
  Other non-deductible items26 0.2 %
Other
  Percentage depletion(1,068)(9.1)%
  Stock compensation(49)(0.4)%
  Federal effect of changes to state tax rates89 0.8 %
  Other46 0.4 %
Net expense as calculated$544 4.6 %

The following table is a reconciliation of the U.S. federal statutory rate of 21% to our effective tax rate for the years ended December 31, 2024, and 2023, in accordance with the guidance prior to the adoption of ASU 2023-09 (in thousands, except percentages):
20242023
Federal taxes at statutory rate$(3,888)$(9,253)
Add:
State taxes, net of federal benefit(1,536)(1,274)
Change in valuation allowance199,006 1,121 
Change in federal and state tax rates159 238 
Officers' compensation760 848 
Percentage depletion(465)(282)
Other297 213 
Net expense (benefit) as calculated$194,333 $(8,389)
Effective tax rate(1,049.8)%19.0 %
Schedule of Deferred Tax Assets and liabilities Significant components of our deferred tax assets and liabilities were as follows (in thousands):
December 31,
20252024
Deferred tax assets (liabilities):
Property, plant, equipment and mineral properties, net$121,092 $121,172 
Federal and state net operating loss carryforwards48,136 60,278 
Asset retirement obligation9,961 8,468 
Deferred revenue12,302 1,330 
Other5,535 9,042 
Federal R&D credits1,870 1,870 
Total deferred tax assets198,896 202,160 
Valuation allowance(198,896)(202,160)
Deferred tax asset, net$— $— 
Schedule of income taxes paid refunded by U.S federal and various U.S. state jurisdiction
The following table presents income tax paid (refunded) for the year ended December 31, 2025:
202520242023
   New Mexico$206,723 $(46,772)—
   Oregon190,784 10,000 104,090 
   Texas41,760 51,812 69,412 
   Alabama23,966 —(27,210)
   Pennsylvania14,299 ——
   Montana2,650 (9,461)—
   New Jersey—6,000 20,842 
   Massachusetts——9,000 
   California——(42,200)
   Other7,672 (2,562)44,730 
Income Taxes Paid$487,854 $9,017 $178,664 
— The amount of income taxes paid during the year does not meet the five percent disaggregation threshold.
v3.25.4
FAIR VALUE MEASUREMENTS (Tables)
 12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Held-to-Maturity Investments
Held-to-Maturity Investments—During the three months ended June 30, 2025, all of our held-to-maturity debt investments matured and as of December 31, 2025, we did not own any debt investment securities. As of December 31, 2024, we owned debt investment securities classified as held-to-maturity because we had the intent and ability to hold these investments to maturity. These held-to-maturity debt investment securities were carried at amortized cost, were recorded in "Short-term investments" on the Consolidated Balance Sheets, and consisted of the following (amounts in thousands):
As of December 31, 2024
Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
Short-term
Corporate bonds$— $— $— $— 
Government bonds989 — — 989 
Total$989 $— $— $989 
v3.25.4
EMPLOYEE BENEFITS (Tables)
 12 Months Ended
Dec. 31, 2025
Retirement Benefits [Abstract]  
Contributions to the 401K Plan Our contributions to the 401(k) Plan in the following periods were (in thousands):
Contributions
Year Ended December 31, 2025$2,219 
Year Ended December 31, 2024$2,066 
Year Ended December 31, 2023$2,057 
v3.25.4
BUSINESS SEGMENTS (Tables)
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
Year Ended December 31, 2025Potash
Trio®
Oilfield SolutionsOtherConsolidated
Sales1
$139,583 $144,463 $14,440 $(158)$298,328 
Less: Freight costs15,617 32,818 — (158)48,277 
Warehousing and handling costs
6,530 5,685 — — 12,215 
Cost of goods sold
94,776 72,574 11,228 — 178,578 
Lower of cost or NRV inventory adjustments
4,442 — — — 4,442 
Gross Margin $18,218 $33,386 $3,212 $— $54,816 
Depreciation, depletion, and amortization incurred2
$31,478 $3,353 $3,813 $1,925 $40,569 
Year Ended December 31, 2024Potash
Trio®
Oilfield SolutionsOtherConsolidated
Sales1
$124,833 $105,428 $24,685 $(252)$254,694 
Less: Freight costs13,176 25,841 — (252)38,765 
Warehousing and handling costs
6,306 5,169 — — 11,475 
Cost of goods sold
83,974 69,980 17,461 — 171,415 
Lower of cost or NRV inventory adjustments
3,957 — — — 3,957 
Gross Margin$17,420 $4,438 $7,224 $— $29,082 
Depreciation, depletion, and amortization incurred2
$27,955 $3,500 $4,431 $1,803 $37,689 
Year Ended December 31, 2023Potash
Trio®
Oilfield SolutionsOtherConsolidated
Sales1
$155,920 $102,182 $21,310 $(329)$279,083 
Less: Freight costs14,753 23,211 — (329)37,635 
Warehousing and handling costs
5,957 4,875 — — 10,832 
Cost of goods sold
97,452 74,308 15,518 — 187,278 
Lower of cost or NRV inventory adjustments
2,709 3,783 — — 6,492 
Gross Margin (Deficit)$35,049 $(3,995)$5,792 $— $36,846 
Depreciation, depletion, and amortization incurred2
$28,378 $6,288 $3,849 $885 $39,400 

1 Segment sales include the sales of byproducts generated during the production of potash and Trio®.
2 Depreciation, depletion, and amortization incurred for potash and Trio® excludes depreciation, depletion, and amortization absorbed in or (relieved from) inventory.
Significant Components of Cost of Goods Sold by Segment Significant components of cost of goods sold are also provided to the chief operating decision maker to further evaluate segment performance and are shown below:
Year Ended December 31, 2025Potash
Trio®
Oilfield SolutionsTotal
Labor and benefits$29,838 $30,965 $4,821 $65,624 
Maintenance7,346 9,959 597 17,902 
Utilities and fuel7,564 4,752 788 13,104 
Operating supplies6,159 10,674 227 17,060 
Depreciation25,292 3,353 3,901 32,546 
Other1
18,577 12,871 894 32,342 
Total cost of goods sold$94,776 $72,574 $11,228 $178,578 
Year Ended December 31, 2024Potash
Trio®
Oilfield SolutionsTotal
Labor and benefits$25,827 $31,626 $4,260 $61,713 
Maintenance5,861 8,224 1,029 15,114 
Utilities and fuel7,916 4,555 865 13,336 
Operating supplies5,969 8,952 295 15,216 
Depreciation21,808 4,488 4,499 30,795 
Other1
16,593 12,135 6,513 35,241 
Total cost of goods sold$83,974 $69,980 $17,461 $171,415 
Year Ended December 31, 2023Potash
Trio®
Oilfield SolutionsTotal
Labor and benefits$29,174 $36,441 $5,162 $70,777 
Maintenance7,041 7,719 881 15,641 
Utilities and fuel9,627 7,117 1,085 17,829 
Operating supplies6,977 7,407 494 14,878 
Depreciation26,271 4,741 3,879 34,891 
Other1
18,362 10,883 4,017 33,262 
Total cost of goods sold$97,452 $74,308 $15,518 $187,278 

1 Other expense includes property taxes, insurance, royalties, and other miscellaneous expenses.
Reconciliation of Reportable Segment Sales to Consolidated Sales and Segment Gross Margins to Consolidated Income Before Taxes
Year Ended December 31,
202520242023
Total sales for reportable segments$298,486 $254,946 $279,412 
Elimination of intersegment sales(158)(252)(329)
Total consolidated sales$298,328 $254,694 $279,083 
Total gross margin for reportable segments54,816 29,082 36,846 
Elimination of intersegment sales(158)(252)(329)
Elimination of intersegment expenses158 252 329 
Unallocated amounts:
Selling and administrative36,705 32,966 32,423 
Impairment of long-lived assets1,866 10,708 43,288 
(Gain) loss on disposal of assets(1,175)1,952 807 
Accretion of asset retirement obligation2,603 2,489 2,140 
Other operating income(4,811)(5,215)(1,329)
Other operating expense8,963 6,040 3,486 
Equity in loss/(earnings) of unconsolidated entities374 299 486 
Interest expense, net232 112 — 
Interest income(2,432)(1,712)(298)
Other non-operating expense (income)762 (45)(95)
Income (loss) before income taxes$11,729 $(18,512)$(44,062)
v3.25.4
COMPANY BACKGROUND (Details)
 12 Months Ended
Dec. 31, 2025
Facility
Reporting_Segments
nutrient
Business Combination [Line Items]  
Number of mining facilities | Facility 3
Number of reportable segments | Reporting_Segments 3
Number of key nutrient in Trio | nutrient 3
v3.25.4
EARNINGS PER SHARE (Details) - $ / shares
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Calculation of basic and diluted earnings per share      
Basic weighted average common shares outstanding 13,014,205 12,880,026 12,760,937
Add: Dilutive effect restricted common stock 120,000 0 0
Add: Dilutive effect of stock options oustanding 38,000 0 0
Add: Dilutive effect of performance units 2,000 0 0
Diluted weighted average common shares outstanding 13,174,001 12,880,026 12,760,937
Earnings (loss) per share:      
Basic $ 0.86 $ (16.53) $ (2.80)
Diluted $ 0.85 $ (16.53) $ (2.80)
Restricted Shares [Member]      
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Antidilutive shares 186,000 287,000 348,000
Stock Options [Member]      
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Antidilutive shares 117,000 273,000 273,000
v3.25.4
CASH, CASH EQUIVALENTS, AND INVESTMENTS (Details) - USD ($)
$ in Thousands
 1 Months Ended 12 Months Ended
Dec. 31, 2025
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash and Cash Equivalents [Abstract]          
Cash and cash equivalents $ 83,537 $ 83,537 $ 41,309 $ 4,071  
Restricted cash included in Other current assets 25 25 25 25  
Restricted cash included in Other current, net 573 573 564 555  
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows 84,135 84,135 41,898 4,651 $ 19,084
Deposit received 8,000 8,000 $ 0 $ 0  
Deposit received as cash and cash equivalent $ 8,000 $ 8,000      
v3.25.4
INVENTORY AND LONG-TERM PARTS INVENTORY (Narrative) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Inventory [Line Items]      
Lower of cost or net realizable value inventory adjustments $ 4,442 $ 3,957 $ 6,492
Reserve for obsolescence $ 2,422 $ 1,843 $ 509
v3.25.4
INVENTORY AND LONG-TERM PARTS INVENTORY (Summary of Inventory) (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Inventory Disclosure [Abstract]    
Finished goods product inventory $ 63,893 $ 68,197
In-process inventory 32,858 28,329
Total product inventory 96,751 96,526
Current parts inventory, net 15,554 16,442
Total current inventory, net 112,305 112,968
Long-term parts inventory, net 31,506 33,775
Total inventory, net $ 143,811 $ 146,743
v3.25.4
PROPERTY, PLANT, EQUIPMENT AND MINERAL PROPERTIES (Schedule of Property, Plant, Equipment and Mineral Properties) (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Property, Plant and Equipment [Line Items]    
Total property, plant, equipment, and mineral properties, gross $ 748,551 $ 725,769
Less: accumulated depreciation, depletion, and amortization (413,778) (381,431)
Total property, plant, equipment, and mineral properties, net 334,773 344,338
Land [Member]    
Property, Plant and Equipment [Line Items]    
Total property, plant, equipment, and mineral properties, gross 24,032 24,136
Ponds and land improvements [Member]    
Property, Plant and Equipment [Line Items]    
Total property, plant, equipment, and mineral properties, gross 98,639 95,787
Mineral properties and development costs [Member]    
Property, Plant and Equipment [Line Items]    
Total property, plant, equipment, and mineral properties, gross 159,892 161,826
Buildings and Plant [Member]    
Property, Plant and Equipment [Line Items]    
Total property, plant, equipment, and mineral properties, gross 97,987 95,439
Machinery and equipment [Member]    
Property, Plant and Equipment [Line Items]    
Total property, plant, equipment, and mineral properties, gross 331,545 318,545
Vehicles [Member]    
Property, Plant and Equipment [Line Items]    
Total property, plant, equipment, and mineral properties, gross 8,885 8,152
Office equipment and improvements [Member]    
Property, Plant and Equipment [Line Items]    
Total property, plant, equipment, and mineral properties, gross 10,164 10,613
Operating lease ROU assets    
Property, Plant and Equipment [Line Items]    
Total property, plant, equipment, and mineral properties, gross 3,181 4,571
Breeding Stock [Member]    
Property, Plant and Equipment [Line Items]    
Total property, plant, equipment, and mineral properties, gross 223 277
Construction in progress [Member]    
Property, Plant and Equipment [Line Items]    
Total property, plant, equipment, and mineral properties, gross $ 14,003 $ 6,423
v3.25.4
PROPERTY, PLANT, EQUIPMENT AND MINERAL PROPERTIES (Schedule of Depreciation, Depletion, and Accretion) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Property, Plant and Equipment [Abstract]      
Depreciation $ 33,938 $ 31,390 $ 34,307
Depletion 5,035 4,627 3,190
Amortization of ROU assets 1,268 1,344 1,581
Total incurred $ 40,241 $ 37,361 $ 39,078
v3.25.4
PROPERTY, PLANT, EQUIPMENT AND MINERAL PROPERTIES (Narrative) (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2023
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Property, Plant and Equipment [Line Items]        
Impairment of long-lived assets   $ 1,866 $ 10,708 $ 43,288
Trio [Member]        
Property, Plant and Equipment [Line Items]        
Impairment of long-lived assets $ 31,900 $ 1,900 4,400  
Oil Field Solutions [Member]        
Property, Plant and Equipment [Line Items]        
Impairment of long-lived assets     $ 6,400 $ 1,500
West Facility[Member] [Member] [Member]        
Property, Plant and Equipment [Line Items]        
Impairment of long-lived assets $ 9,900      
v3.25.4
LEASES (Leases Recorded on Balance Sheets) (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Leases [Abstract]    
Operating lease ROU assets, net $ 2,245 $ 1,437
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] Property, plant, equipment, and mineral properties, net Property, plant, equipment, and mineral properties, net
Finance lease ROU assets, net $ 3,435 $ 2,934
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] Property, plant, equipment, and mineral properties, net Property, plant, equipment, and mineral properties, net
Current operating lease liabilities $ 983 $ 679
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] Other current liabilities Other current liabilities
Current finance lease liability $ 1,035 $ 951
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] Other current liabilities Other current liabilities
Non-current operating lease liabilities $ 1,550 $ 780
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration] Non-current operating lease liabilities Non-current operating lease liabilities
Non-current finance lease liabilities $ 1,741 $ 1,838
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration] Non-current finance lease liabilities Non-current finance lease liabilities
v3.25.4
LEASES (Other Information Related to Lease Term and Discount) (Details)
Dec. 31, 2025
Dec. 31, 2024
Leases [Abstract]    
Weighted average remaining lease term - operating leases 3 years 3 years 10 months 24 days
Weighted average remaining lease term - finance leases 3 years 8 months 12 days 3 years
Weighted average discount rate - operating leases 7.60% 7.00%
Weighted average discount rate - finance leases 7.80% 7.60%
v3.25.4
LEASES (Components of Lease Expense) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Leases [Abstract]      
Operating lease expense $ 1,468 $ 1,443 $ 1,667
Short-term lease expense 82 79 122
Total lease expense $ 1,550 $ 1,522 $ 1,789
v3.25.4
LEASES (Supplemental Cash Flow Information Related to Leases) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Leases [Abstract]      
Operating cash flows from operating leases $ 1,582 $ 1,516  
Operating cash flows from finance leases 220 185  
Financing cash flows from finance leases 1,043 942 $ 597
Right-of-Use Assets exchanged for new operating lease liabilities 2,185 751  
Right-of-Use Assets exchanged for new finance lease liabilities $ 1,380 $ 1,562  
v3.25.4
LEASES (Maturities of Lease Liabilities) (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Leases [Abstract]    
Operating leases, year one $ 1,141  
Operating leases, year two 1,068  
Operating leases, year three 255  
Operating leases, year four 150  
Operating leases, year five 139  
Operating leases, Thereafter 92  
Operating leases, Total future minimum lease payments 2,845  
Operating leases, Less - amount representing interest 312  
Operating leases, Present value of future minimum lease payments 2,533  
Operating Leases, Less - current lease obligation 983 $ 679
Operating leases, Long-term lease obligations 1,550 780
Finance leases, year one 1,203  
Finance leases, year two 628  
Finance leases, year three 604  
Finance leases, year four 376  
Finance leases, year five 165  
Finance leases, Thereafter 248  
Finance leases, Total future minimum lease payments 3,224  
Finance Leases, Less - amount representing interest 448  
Finance leases, Present value of future minimum lease payments 2,776  
Finance leases, Less - current lease obligations 1,035 951
Finance lease liabilities 1,741 $ 1,838
Operating and finance leases, year one 2,344  
Operating and finance leases, year two 1,696  
Operating and finance leases, year three 859  
Operating and finance leases, year four 526  
Operating and finance leases, year five 304  
Operating and finance leases, Thereafter 340  
Operating and finance leases, Total future minimum lease payments 6,069  
Operating and finance leases, Less - amount representing interest 760  
Operating and finance leases, Present value of future minimum lease payments 5,309  
Operating and finance leases, Less - current lease obligations 2,018  
Operating and finance leases, Long-term lease obligations $ 3,291  
v3.25.4
LEASES (Narrative) (Details)
Dec. 31, 2025
Minimum [Member]  
Lessee, Lease, Description [Line Items]  
Operating Lease, remaining lease term 1 year
Finance Lease, remaining lease term 1 year
Maximum [Member]  
Lessee, Lease, Description [Line Items]  
Operating Lease, remaining lease term 6 years
Finance Lease, remaining lease term 7 years
v3.25.4
INTANGIBLE ASSETS (Narrative) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Intangible Assets Disclosure [Abstract]      
Other intangible assets $ 6,617 $ 6,617  
Water rights 19,184 19,184  
Amortization of intangible assets $ 328 $ 328 $ 322
Weighted average amortization period 13 years 7 months 6 days    
Intangible asset, expected amortization, year one $ 300    
Intangible asset, expected amortization, year two 300    
Intangible asset, expected amortization, year three 300    
Intangible asset, expected amortization, year four 300    
Intangible asset, expected amortization, year five $ 300    
v3.25.4
INTANGINBLE ASSETS (Schedule of Intangible Assets) (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount $ 6,617 $ 6,617
Accumulated Amortization (2,158) (1,830)
Indefinite-lived intangible assets, water rights 19,184 19,184
Produced Water Disposal Royalty Agreements [Member]    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount 2,694 2,694
Accumulated Amortization (900) (765)
Surface Damage And Easement Agreements [Member]    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount 3,723 3,723
Accumulated Amortization (1,245) (1,058)
Other Intangibles [Member]    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount 200 200
Accumulated Amortization $ (13) $ (7)
v3.25.4
OTHER LONG TERM DEFERRED REVENUE (Details) - USD ($)
$ in Thousands
 1 Months Ended 12 Months Ended
Jan. 31, 2024
Dec. 31, 2023
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Revenue Recognition, Milestone Method [Line Items]          
Other Nonrecurring Income     $ 4,811 $ 5,215 $ 1,329
Other assets, net     11,405 9,889  
Deferred other income, long-term     43,233 45,489  
XTO          
Revenue Recognition, Milestone Method [Line Items]          
Initial fee under the third amentment of Cooperative Development Agreement   $ 50,000      
Initial fee, payment received under the Third Amendment of Cooperative Development Agreement   5,000      
Initial fee, remaining payment received under the Third Amendment of Cooperative Development Agreement $ 45,000        
Additional one time payment as an access fee under the Third Amendment of Cooperative Development Agreement   $ 50,000      
Access fee payment term   90 days      
Anniversary term of the Amendment Date   7 years      
Additional amounts as an Access Realization Fee under the Third Amendment of Cooperative Development Agreement   $ 100,000      
Transaction price of the third amentment of Cooperative Development Agreement   100,000      
Other Nonrecurring Income     4,500 4,500  
Other assets, net     4,500 2,300  
Deferred other income, long-term   $ 0 43,200 45,500 $ 0
Other current liabilities     $ 2,300 $ 2,300  
v3.25.4
DEBT (Narrative) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Aug. 02, 2022
Jul. 31, 2022
Debt Instrument [Line Items]          
Proceeds from borrowings on credit facility $ 0 $ 0 $ 9,000    
Repayments of borrowings on credit facility 0 (4,000) (5,000)    
Gross interest expense 759 712 802    
Interest paid 463 503 411    
Revolving Credit Facility          
Debt Instrument [Line Items]          
Credit facility, borrowing capacity       $ 150,000 $ 75,000
Proceeds from borrowings on credit facility 0 0 9,000    
Repayments of borrowings on credit facility 0 (4,000) (5,000)    
Long-term Line of Credit 0 0 4,000    
Letters of credit 0 $ 0 $ 0    
Line of credit, current borrowing capacity $ 150,000        
Minimum [Member] | Revolving Credit Facility          
Debt Instrument [Line Items]          
Basis spread credit facility 1.50%        
Maximum [Member] | Revolving Credit Facility          
Debt Instrument [Line Items]          
Basis spread credit facility 2.25%        
v3.25.4
DEBT (Schedule of Interest Expense) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Debt Disclosure [Abstract]      
Interest expense on borrowings $ 230 $ 182 $ 275
Commitment fee on unused credit facility 228 229 226
Amortization of deferred financing costs 301 301 301
Gross interest expense 759 712 802
Less capitalized interest 527 600 802
Interest expense, net $ 232 $ 112 $ 0
v3.25.4
ASSET RETIREMENT OBLIGATION (Narrative) (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2025
USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]  
Asset retirement obligation payments expected to be made $ 11.5
Period in which no significant payments related to asset retirement obligation are expected (in years) 5 years
Measurement Input, Risk Free Interest Rate [Member] | Minimum [Member]  
Fair Value Measurement Inputs and Valuation Techniques [Line Items]  
Credit risk free rate 0.069
Measurement Input, Risk Free Interest Rate [Member] | Maximum [Member]  
Fair Value Measurement Inputs and Valuation Techniques [Line Items]  
Credit risk free rate 0.120
v3.25.4
ASSET RETIREMENT OBLIGATION (Schedule of Changes to Asset Retirement Obligations) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Changes to asset retirement obligations      
Asset retirement obligation, at beginning of period $ 32,949 $ 30,359 $ 26,864
Liabilities settled (48) 0 (197)
Liabilities incurred 0 524 0
Changes in estimated obligations 3,337 (423) 1,552
Accretion of asset retirement obligation 2,603 2,489 2,140
Total asset retirement obligation, at end of period 38,841 32,949 30,359
Less current portion of asset retirement obligation 0 (595) (282)
Long-term portion of asset retirement obligation 38,841 32,354 30,077
Asset Retirement Obligation $ 38,841 $ 32,949 $ 30,359
v3.25.4
REVENUE (Contract Balances) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Revenue from Contract with Customer [Abstract]      
Beginning balance $ 2,431 $ 2,303 $ 2,374
Additions 1,345 1,701 1,030
Recognized as revenue during period from the beginning balance (1,292) (1,573) (1,101)
Ending balance 2,484 2,431 $ 2,303
Contract with customer, current liability $ 800 $ 800  
v3.25.4
REVENUE (Disaggregation of Revenue) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Disaggregation of Revenue [Line Items]      
Revenue [1] $ 298,328 $ 254,694 $ 279,083
Potash [Member]      
Disaggregation of Revenue [Line Items]      
Revenue 114,845 99,947 130,877
Trio [Member]      
Disaggregation of Revenue [Line Items]      
Revenue 143,966 104,773 96,344
Water Product [Member]      
Disaggregation of Revenue [Line Items]      
Revenue 3,173 13,602 15,182
Salt [Member]      
Disaggregation of Revenue [Line Items]      
Revenue 12,154 13,033 12,495
Magnesium Chloride [Member]      
Disaggregation of Revenue [Line Items]      
Revenue 6,191 5,324 8,161
Brines [Member]      
Disaggregation of Revenue [Line Items]      
Revenue 11,048 11,136 8,339
Other [Member]      
Disaggregation of Revenue [Line Items]      
Revenue 6,951 6,879 7,685
Operating Segments [Member]      
Disaggregation of Revenue [Line Items]      
Revenue 298,486 254,946 279,412
Operating Segments [Member] | Potash [Member]      
Disaggregation of Revenue [Line Items]      
Revenue [1] 139,583 124,833 155,920
Operating Segments [Member] | Potash [Member] | Potash [Member]      
Disaggregation of Revenue [Line Items]      
Revenue 115,003 100,199 131,206
Operating Segments [Member] | Potash [Member] | Trio [Member]      
Disaggregation of Revenue [Line Items]      
Revenue 0 0 0
Operating Segments [Member] | Potash [Member] | Water Product [Member]      
Disaggregation of Revenue [Line Items]      
Revenue 0 0 297
Operating Segments [Member] | Potash [Member] | Salt [Member]      
Disaggregation of Revenue [Line Items]      
Revenue 11,657 12,378 11,973
Operating Segments [Member] | Potash [Member] | Magnesium Chloride [Member]      
Disaggregation of Revenue [Line Items]      
Revenue 6,191 5,324 8,161
Operating Segments [Member] | Potash [Member] | Brines [Member]      
Disaggregation of Revenue [Line Items]      
Revenue 6,732 6,932 4,283
Operating Segments [Member] | Potash [Member] | Other [Member]      
Disaggregation of Revenue [Line Items]      
Revenue 0 0 0
Operating Segments [Member] | Trio [Member]      
Disaggregation of Revenue [Line Items]      
Revenue [1] 144,463 105,428 102,182
Operating Segments [Member] | Trio [Member] | Potash [Member]      
Disaggregation of Revenue [Line Items]      
Revenue 0 0 0
Operating Segments [Member] | Trio [Member] | Trio [Member]      
Disaggregation of Revenue [Line Items]      
Revenue 143,966 104,773 96,344
Operating Segments [Member] | Trio [Member] | Water Product [Member]      
Disaggregation of Revenue [Line Items]      
Revenue 0 0 5,316
Operating Segments [Member] | Trio [Member] | Salt [Member]      
Disaggregation of Revenue [Line Items]      
Revenue 497 655 522
Operating Segments [Member] | Trio [Member] | Magnesium Chloride [Member]      
Disaggregation of Revenue [Line Items]      
Revenue 0 0 0
Operating Segments [Member] | Trio [Member] | Brines [Member]      
Disaggregation of Revenue [Line Items]      
Revenue 0 0 0
Operating Segments [Member] | Trio [Member] | Other [Member]      
Disaggregation of Revenue [Line Items]      
Revenue 0 0 0
Operating Segments [Member] | Oil Field Solutions [Member]      
Disaggregation of Revenue [Line Items]      
Revenue [1] 14,440 24,685 21,310
Operating Segments [Member] | Oil Field Solutions [Member] | Potash [Member]      
Disaggregation of Revenue [Line Items]      
Revenue 0 0 0
Operating Segments [Member] | Oil Field Solutions [Member] | Trio [Member]      
Disaggregation of Revenue [Line Items]      
Revenue 0 0 0
Operating Segments [Member] | Oil Field Solutions [Member] | Water Product [Member]      
Disaggregation of Revenue [Line Items]      
Revenue 3,173 13,602 9,569
Operating Segments [Member] | Oil Field Solutions [Member] | Salt [Member]      
Disaggregation of Revenue [Line Items]      
Revenue 0 0 0
Operating Segments [Member] | Oil Field Solutions [Member] | Magnesium Chloride [Member]      
Disaggregation of Revenue [Line Items]      
Revenue 0 0 0
Operating Segments [Member] | Oil Field Solutions [Member] | Brines [Member]      
Disaggregation of Revenue [Line Items]      
Revenue 4,316 4,204 4,056
Operating Segments [Member] | Oil Field Solutions [Member] | Other [Member]      
Disaggregation of Revenue [Line Items]      
Revenue 6,951 6,879 7,685
Intersegment Eliminations [Member]      
Disaggregation of Revenue [Line Items]      
Revenue [1] (158) (252) (329)
Intersegment Eliminations [Member] | Potash [Member]      
Disaggregation of Revenue [Line Items]      
Revenue (158) (252) (329)
Intersegment Eliminations [Member] | Trio [Member]      
Disaggregation of Revenue [Line Items]      
Revenue 0 0 0
Intersegment Eliminations [Member] | Water Product [Member]      
Disaggregation of Revenue [Line Items]      
Revenue 0 0 0
Intersegment Eliminations [Member] | Salt [Member]      
Disaggregation of Revenue [Line Items]      
Revenue 0 0 0
Intersegment Eliminations [Member] | Magnesium Chloride [Member]      
Disaggregation of Revenue [Line Items]      
Revenue 0 0 0
Intersegment Eliminations [Member] | Brines [Member]      
Disaggregation of Revenue [Line Items]      
Revenue 0 0 0
Intersegment Eliminations [Member] | Other [Member]      
Disaggregation of Revenue [Line Items]      
Revenue $ 0 $ 0 $ 0
[1] Segment sales include the sales of byproducts generated during the production of potash and Trio®.
v3.25.4
COMPENSATION PLANS (Narrative) (Details)
$ / shares in Units, $ in Thousands
 1 Months Ended 12 Months Ended
May 31, 2025
shares
Mar. 31, 2025
shares
Jan. 31, 2025
boardOfDirector
shares
Nov. 30, 2024
shares
Sep. 30, 2024
shares
Dec. 31, 2025
USD ($)
Installments
$ / shares
shares
Dec. 31, 2024
USD ($)
boardOfDirector
$ / shares
shares
Dec. 31, 2023
USD ($)
$ / shares
shares
Dec. 31, 2022
$ / shares
shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                  
Number of common stock eligible to be converted from restricted stock unit           1      
Number of board members | boardOfDirector     8       7    
Common stock available for issuance           800,000      
Total compensation expense | $           $ 5,100 $ 3,600 $ 6,500  
Total unrecognized compensation expense | $           $ 7,200      
Unrecognized compensation expense, period for recognition           1 year 6 months      
Restricted Shares [Member]                  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                  
Awards, outstanding           287,345 319,035 340,924 300,268
Shares granted           135,829 256,129 247,343  
Restricted Shares [Abstract]                  
Granted in period, weighted average fair value | $ / shares           $ 30.10 $ 21.88   $ 25.05
Share vested           142,160 138,668 177,771  
Restricted Stock Units [Abstract]                  
Weighted average grant date fair value | $ / shares           $ 27.01 $ 31.23 $ 36.98 $ 40.25
Stock Options [Member]                  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                  
Exercise in the period           115,993 0 0  
Awards, outstanding           1,395 273,206    
Non Qualified Stock Options [Abstract]                  
Options exercised, intrinsic value | $           $ 1,500      
Restricted Stock Units (RSUs) [Member]                  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                  
Awards, outstanding           195,586 111,285 0  
Shares granted           94,586 111,285    
Restricted Shares [Abstract]                  
Granted in period, weighted average fair value | $ / shares           $ 23.53 $ 16.25    
Share vested           4,064 0    
Restricted Stock Units [Abstract]                  
Weighted average grant date fair value | $ / shares           $ 19.36 $ 16.25 $ 0  
Relative TSR RSU Award [Member]                  
Restricted Stock Units [Abstract]                  
Lower percentile of TSR           20      
Upper percentile of TSR           90      
rTSR 20th Percentile [Member]                  
Restricted Stock Units [Abstract]                  
Restricted stock unit eligible to vest           0      
Maximum [Member] | Absolute TSR RSU Award [Member]                  
Restricted Stock Units [Abstract]                  
Weighted average grant date fair value | $ / shares           $ 24.53 $ 22.63    
Maximum [Member] | Relative TSR RSU Award [Member]                  
Restricted Stock Units [Abstract]                  
Maximum RSU that can be earned             45,855    
Weighted average grant date fair value | $ / shares           $ 20.11 $ 14.89    
Executives and Key Employees [Member] | Restricted Shares [Member]                  
Restricted Shares [Abstract]                  
Restricted shares granted   118,773              
Restricted Stock Units [Abstract]                  
Restricted stock unit granted in the period   118,773              
Executive Officer [Member] | Restricted Stock Units (RSUs) [Member]                  
Restricted Shares [Abstract]                  
Restricted shares granted       2          
Restricted Stock Units [Abstract]                  
Restricted stock unit granted in the period       2          
Executive Officer [Member] | Absolute TSR RSU Award [Member]                  
Restricted Shares [Abstract]                  
Restricted shares granted       1          
Restricted Stock Units [Abstract]                  
Restricted stock unit granted in the period       1          
New Independent Director [Member] | Restricted Shares [Member]                  
Restricted Shares [Abstract]                  
Restricted shares granted     1,040            
Restricted Stock Units [Abstract]                  
Restricted stock unit granted in the period     1,040            
Non Employee directors [Member] | Restricted Shares [Member]                  
Restricted Shares [Abstract]                  
Restricted shares granted 16,016       6,282   20,739 22,226  
Vesting period               1 year  
Restricted Stock Units [Abstract]                  
Restricted stock unit granted in the period 16,016       6,282   20,739 22,226  
Employees [Member] | Restricted Shares [Member]                  
Restricted Shares [Abstract]                  
Restricted shares granted             196,809 130,975  
Vesting period               3 years  
Restricted Stock Units [Abstract]                  
Restricted stock unit granted in the period             196,809 130,975  
Executive Officers and Certain Key Employees [Member] | Relative TSR RSU Award [Member]                  
Restricted Stock Units [Abstract]                  
Lower percentile of TSR           20      
Upper percentile of TSR           90      
Executive Officers and Certain Key Employees [Member] | rTSR 20th Percentile [Member]                  
Restricted Stock Units [Abstract]                  
Restricted stock unit eligible to vest           0      
Executive Officers and Certain Key Employees [Member] | rTSR 90th Percentile [Member]                  
Restricted Stock Units [Abstract]                  
Restricted stock unit eligible to vest           36,304 91,710    
Executive Officers and Certain Key Employees [Member] | PSU [Member]                  
Restricted Shares [Abstract]                  
Restricted shares granted           22,577      
Restricted Stock Units [Abstract]                  
Restricted stock unit granted in the period           22,577      
Maximum RSU that can be earned           26,858      
Executive Officers and Certain Key Employees [Member] | Minimum [Member] | PSU [Member]                  
Restricted Stock Units [Abstract]                  
Target number of PSU           0      
Executive Officers and Certain Key Employees [Member] | Maximum [Member] | Absolute TSR RSU Award [Member]                  
Restricted Stock Units [Abstract]                  
Target number of PSU           200      
Executive Officers and Certain Key Employees [Member] | Maximum [Member] | Relative TSR RSU Award [Member]                  
Restricted Stock Units [Abstract]                  
Maximum RSU that can be earned           18,152      
Maximum percentage of grantee total grant date fair value of the rTSR award           500      
Service And Market Condition Based Vesting [Member] | Restricted Shares [Member]                  
Restricted Shares [Abstract]                  
Granted in period, weighted average fair value | $ / shares           $ 0 $ 17.80 $ 24.96  
Service And Market Condition Based Vesting [Member] | Relative TSR RSU Award [Member]                  
Restricted Stock Units [Abstract]                  
Maximum fair market value of the shares of common stock issuable | $             $ 6,600    
Service And Market Condition Based Vesting [Member] | Executive Officer [Member] | Absolute TSR RSU Award [Member]                  
Restricted Stock Units [Abstract]                  
Number of equal installment of aTSR | Installments           3      
Service And Market Condition Based Vesting [Member] | Executive Team [Member] | Restricted Shares [Member]                  
Restricted Shares [Abstract]                  
Shares vesting scenario               0  
Vesting stock price consecutive trading days               20 days  
Service And Market Condition Based Vesting [Member] | Certain Members of Executive Management [Member] | Restricted Shares [Member]                  
Restricted Shares [Abstract]                  
Restricted shares granted             32,299 22,220  
Vesting period             3 years 3 years  
Shares vesting scenario           0      
Vesting stock price consecutive trading days           20 days 20 days 20 days  
Restricted Stock Units [Abstract]                  
Restricted stock unit granted in the period             32,299 22,220  
Service And Market Condition Based Vesting [Member] | Former Chief Executive Officer [Member] | Restricted Shares [Member]                  
Restricted Shares [Abstract]                  
Restricted shares granted               71,922  
Restricted Stock Units [Abstract]                  
Restricted stock unit granted in the period               71,922  
v3.25.4
COMPENSATION PLANS (Schedule of Restricted Shares Activity and Oustanding) (Details) - Restricted Shares [Member] - $ / shares
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Restricted shares (in shares) 319,035 340,924 300,268  
Weighted average grant date fair value (in dollars per share) $ 31.23 $ 36.98 $ 40.25  
Granted (in shares) 135,829 256,129 247,343  
Granted (in dollars per share) $ 30.10 $ 21.88   $ 25.05
Vested (in shares) (142,160) (138,668) (177,771)  
Vested (in dollars per share) $ 25.52 $ 29.22 $ 24.98  
Forfeited (in shares) (25,359) (139,350) (28,916)  
Forfeited (in dollars per share) $ 23.81 $ 30.10 $ 42.63  
Restricted shares (in shares) 287,345 319,035 340,924 300,268
Weighted average grant date fair value (in dollars per share) $ 27.01 $ 31.23 $ 36.98 $ 40.25
Service And Market Condition Based Vesting [Member]        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Granted (in dollars per share) $ 0 $ 17.80 $ 24.96  
v3.25.4
COMPENSATION PLANS (Assumptions of Weighted Average Grant Date Fair Market Value of Restricted Shares) (Details) - Service And Market Condition Based Vesting [Member] - Restricted Shares [Member] - $ / shares
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Closing stock price on grant date $ 19.37 $ 26.05
Risk free interest rate 4.50% 3.60%
Dividend yield 0.00% 0.00%
Expected volatility 67.60% 82.90%
Expected life 3 years 3 years 9 months 18 days
v3.25.4
COMPENSATION PLANS (Schedule of RSU Activity and Outstanding) (Details) - Restricted Stock Units (RSUs) [Member] - $ / shares
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Restricted shares (in shares) 111,285 0
Weighted average grant date fair value (in dollars per share) $ 16.25 $ 0
Granted (in shares) 94,586 111,285
Granted (in dollars per share) $ 23.53 $ 16.25
Vested (in shares) (4,064) 0
Vested (in dollars per share) $ 24.72 $ 0
Forfeited (in shares) (6,221) 0
Forfeited (in dollars per share) $ 23.53 $ 0
Restricted shares (in shares) 195,586 111,285
Weighted average grant date fair value (in dollars per share) $ 19.36 $ 16.25
v3.25.4
COMPENSATION PLANS (Assumptions of Weighted Average Grant Date Fair Market Value of RSUs) (Details) - Service And Market Condition Based Vesting [Member] - $ / shares
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Absolute TSR RSU Award [Member]    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Closing stock price on grant date $ 29.18 $ 27.39
Risk free interest rate 4.03% 4.05%
Dividend yield 0.00% 0.00%
Expected volatility 62.70% 67.80%
Expected life 4 years 4 years 1 month 6 days
Relative TSR RSU Award [Member]    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Closing stock price on grant date $ 30.74 $ 27.39
Risk free interest rate 3.97% 4.07%
Dividend yield 0.00% 0.00%
Expected volatility 58.10% 62.20%
Expected life 3 years 3 years 1 month 6 days
v3.25.4
COMPENSATION PLANS (Summary of Stock Option Activity) (Details) - Stock Options [Member] - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Stock option activity, number of shares      
Outstanding non-qualified stock options, at beginning of period (in shares) 273,206    
Granted (in shares) 0    
Exercised (in shares) (115,993) 0 0
Forfeited (in shares) (155,818)    
Expired (in Shares) 0    
Outstanding non-qualified stock options, at end of period (in shares) 1,395 273,206  
Vested or expected to vest, end of period (in shares) 1,395    
Exercisable non-qualified stock options, at end of period (in shares) 1,395    
Stock Options, Weighted Average Exercise Price      
Outstanding non-qualified stock options, at beginning of period (in dollars per share) $ 29.04    
Granted (in dollars per share) 0    
Exercised (in dollars per share) 15.88    
Forfeited (in dollars per share) 39.00    
Expired (in dollars per share) 0    
Outstanding non-qualified stock options, at end of period (in dollars per share) 10.30 $ 29.04  
Vested or expected to vest, weighted average exercise price end of period (in dollars per share) 10.30    
Exercisable non-qualified stock options, at end of period (in dollars per share) $ 10.30    
Outstanding non-qualified stock options, aggregate intrinsic value at end of period (in dollars per share) [1] $ 24,315    
Vested or expected to vest, aggregate intrinsic value at end of period (in dollars per share) [1] 24,315    
Exercisable non-qualified stock options, aggregate intrinsic value at end of period (in dollars per share) [1] $ 24,315    
Outstanding non-qualified stock options, weighted average contractual life 3 months 18 days    
Vested or expected to vest, end of period, weighted average contractual life 3 months 18 days    
Exercisable non-qualified stock options, aggregate intrinsic value at end of period, weighted average contractual life 3 months 18 days    
[1] The intrinsic value of a stock option is the amount by which the market value exceeds the exercise price as of the end of the period presented.
v3.25.4
INCOME TAXES (Narrative) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Tax Disclosure [Abstract]      
Federal statutory income tax rate, percentage 21.00% 21.00% 21.00%
Deferred tax assets, gross $ 198,896 $ 202,160  
Deferred tax assets, operating loss carry forwards, federal 171,100    
Deferred tax assets, 0perating loss carry forwards, state 252,200    
Deferred tax assets, federal research and development credits 1,870 1,870  
Change in valuation allowance (2,521) 199,006 $ 1,121
Deferred tax assets, valuation allowance 198,896 202,160  
Valuation allowance, increase in deferred tax assets (3,300)    
Deferred tax assets, net $ 0 $ 0  
v3.25.4
INCOME TAXES (Components of Income Tax Expense) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Current portion of income tax expense (benefit):      
Federal $ 0 $ 0 $ 0
State 544 110 82
Deferred portion of income tax expense:      
Federal 0 146,457 (8,538)
State 0 47,766 67
Net expense (benefit) as calculated $ 544 $ 194,333 $ (8,389)
v3.25.4
INCOME TAXES (Reconciliation of Statutory Rate After ASU 2023-09) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Tax Disclosure [Abstract]      
Federal taxes at statutory rate $ 2,463 $ (3,888) $ (9,253)
State taxes, net of federal benefit 544 (1,536) (1,274)
Change in valuation allowance (2,521) 199,006 1,121
Officers' compensation 519 760 848
Fines and penalties 457    
Meals and entertainment 38    
Other non-deductible items 26    
Percentage depletion (1,068) (465) (282)
Stock compensation (49)    
Federal effect of changes to state tax rates 89 159 238
Other 46 297 213
Net expense (benefit) as calculated $ 544 $ 194,333 $ (8,389)
Federal statutory income tax rate, percentage 21.00% 21.00% 21.00%
State taxes, net of federal benefit 4.60%    
Change in valuation allowance (21.50%)    
Officers' compensation 4.40%    
Fines and penalties 3.90%    
Meals and entertainment 0.30%    
Other non-deductible items 0.20%    
Percentage depletion (9.10%)    
Stock compensation (0.40%)    
Federal effect of changes to state tax rates 0.80%    
Other 0.40%    
Effective tax rate 4.60% (1049.80%) 19.00%
v3.25.4
INCOME TAXES (Reconciliation of Statutory Rate Prior To ASU 2023-09) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Tax Disclosure [Abstract]      
Federal taxes at statutory rate $ 2,463 $ (3,888) $ (9,253)
State taxes, net of federal benefit 544 (1,536) (1,274)
Change in valuation allowance (2,521) 199,006 1,121
Change in federal and state tax rate 89 159 238
Officers' compensation 519 760 848
Percentage depletion (1,068) (465) (282)
Other 46 297 213
Net expense (benefit) as calculated $ 544 $ 194,333 $ (8,389)
Effective tax rate 4.60% (1049.80%) 19.00%
v3.25.4
INCOME TAXES (Deferred Tax Assets Liabilities) (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Deferred tax assets (liabilities):    
Property, plant, equipment and mineral properties, net $ 121,092 $ 121,172
Federal and state net operating loss carryforwards 48,136 60,278
Asset retirement obligation 9,961 8,468
Deferred revenue 12,302 1,330
Other 5,535 9,042
Federal R&D credits 1,870 1,870
Total Deferred Tax Assets 198,896 202,160
Valuation allowance (198,896) (202,160)
Deferred tax asset, net $ 0 $ 0
v3.25.4
INCOME TAXES (Schedule of Income Tax Paid Refunded) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Effective Income Tax Rate Reconciliation [Line Items]      
Income Taxes Paid $ 487,854 $ 9,017 $ 178,664
NEW MEXICO      
Effective Income Tax Rate Reconciliation [Line Items]      
Income Taxes Paid 206,723 (46,772) 0 [1]
OREGON      
Effective Income Tax Rate Reconciliation [Line Items]      
Income Taxes Paid 190,784 10,000 104,090
TEXAS      
Effective Income Tax Rate Reconciliation [Line Items]      
Income Taxes Paid 41,760 51,812 69,412
ALABAMA      
Effective Income Tax Rate Reconciliation [Line Items]      
Income Taxes Paid 23,966 0 [1] (27,210)
PENNSYLVANIA      
Effective Income Tax Rate Reconciliation [Line Items]      
Income Taxes Paid 14,299 0 [1] 0 [1]
MONTANA      
Effective Income Tax Rate Reconciliation [Line Items]      
Income Taxes Paid 2,650 (9,461) 0 [1]
NEW JERSEY      
Effective Income Tax Rate Reconciliation [Line Items]      
Income Taxes Paid 0 [1] 6,000 20,842
MASSACHUSETTS      
Effective Income Tax Rate Reconciliation [Line Items]      
Income Taxes Paid 0 [1] 0 [1] 9,000
CALIFORNIA      
Effective Income Tax Rate Reconciliation [Line Items]      
Income Taxes Paid 0 [1] 0 [1] (42,200)
Other      
Effective Income Tax Rate Reconciliation [Line Items]      
Income Taxes Paid $ 7,672 $ (2,562) $ 44,730
[1] The amount of income taxes paid during the year does not meet the five percent disaggregation threshold.
v3.25.4
COMMITMENTS AND CONTINGENCIES (Narrative) (Details)
$ in Thousands
 1 Months Ended 3 Months Ended 12 Months Ended
Mar. 17, 2022
acre ft
Dec. 31, 2025
USD ($)
May 31, 2025
USD ($)
Dec. 31, 2025
USD ($)
Dec. 31, 2025
USD ($)
acre ft
Dec. 31, 2018
acre ft
Dec. 31, 2017
acre ft
Dec. 31, 2024
USD ($)
Nov. 06, 2024
USD ($)
Reclamation Deposits and Surety Bonds                  
Security placed with the State of Utah and the BLM   $ 30,100   $ 30,100 $ 30,100     $ 27,000  
Long-term restricted cash deposits   600   600 600     600  
Surety bonds issued by an insurer   29,500   29,500 $ 29,500     26,400  
Water Rights                  
Loss Contingencies [Line Items]                  
Preliminary authorization of annual allowable water sales, volume, cancelled | acre ft           5,700 5,700    
Pecos Water Right Volume Per Year | acre ft 20,000                
Annual water volume that had not been forfeited | acre ft 5,800                
Annual water volume that had not been abandoned | acre ft 150                
Estimate repayment for the water sold under preliminary and emergency authorizations | acre ft         9,600        
Class Action Claim                  
Loss Contingencies [Line Items]                  
loss contingency recorded   4,000              
Estimate of possible Loss                 $ 5,000
Recorded estimated contingent liability   4,000   4,000 $ 4,000        
Unpermitted Brine Discharge                  
Loss Contingencies [Line Items]                  
Recorded estimated contingent liability   $ 7,300 $ 2,200 7,300 $ 7,300        
Estimated environmental liabilities     $ 100            
Environmental loss contingency statement of financial position extensible enumeration not disclosed flag     true            
Underpayment of Royalties                  
Loss Contingencies [Line Items]                  
Payments for legal settlements       $ 3,500          
Recorded estimated contingent liability               $ 4,800  
v3.25.4
FAIR VALUE MEASUREMENTS (Narrative) (Details) - USD ($)
$ in Thousands
 1 Months Ended 3 Months Ended 12 Months Ended
May 31, 2025
Aug. 31, 2024
Feb. 28, 2023
May 31, 2020
Dec. 31, 2025
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash and Cash Equivalents [Abstract]                
Cash equivalents         $ 5,900 $ 5,900 $ 2,600  
Schedule of Equity Method Investments [Line Items]                
Equity in earnings of unconsolidated entities           374 299 $ 486
Equity Investment WDVGL                
Equity Securities without Readily Determinable Fair Value [Line Items]                
Equity securities without readily determinable fair value, acquired       $ 3,500        
Cash received for equity securities without readily determinable fair value     $ 200          
Equity Investments without readily determinable fair value, amount   $ 3,300            
Equity securities without readily determinable fair value, shares acquired   336,773            
NESR                
Equity Securities without Readily Determinable Fair Value [Line Items]                
Equity Investments without readily determinable fair value, amount         3,000 3,000    
Equity securities , impairment loss         300 300    
Schedule of Equity Method Investments [Line Items]                
Equity securities proceed from sale $ 2,100              
Equity securities fair value $ 2,500              
Equity securities realized Loss         $ 400      
Equity Securities, (loss)           $ 900    
Equity Investment Ovation                
Schedule of Equity Method Investments [Line Items]                
Equity method investment, ownership percentage         16.00% 16.00%    
Equity in earnings of unconsolidated entities           $ (400) $ (300)  
v3.25.4
FAIR VALUE MEASUREMENT (Held-To-Maturity Investments) (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Schedule of Held-to-Maturity Securities [Line Items]    
Amortized cost, short term $ 0 $ 989
Gross unrealized gains, short term   0
Gross unrealized losses, short term   0
Fair value, short term   989
Corporate debt securities    
Schedule of Held-to-Maturity Securities [Line Items]    
Amortized cost, short term   0
Gross unrealized gains, short term   0
Gross unrealized losses, short term   0
Fair value, short term   0
Government Bonds    
Schedule of Held-to-Maturity Securities [Line Items]    
Amortized cost, short term   989
Gross unrealized gains, short term   0
Gross unrealized losses, short term   0
Fair value, short term   $ 989
v3.25.4
EMPLOYEE BENEFITS (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Defined Contribution Plan Disclosure [Line Items]      
Employer matching contribution, percent of employees' gross pay 5.00%    
Contributions to 401K Plan $ 2,219 $ 2,066 $ 2,057
v3.25.4
BUSINESS SEGMENTS (Narrative) (Details) - Reporting_Segments
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Segment Reporting [Abstract]      
Number of reportable segments 3    
UNITED STATES | Revenue Benchmark [Member] | Customers located in the United States      
Segment Reporting Information [Line Items]      
Concentration Risk, Percentage 93.00% 94.00% 95.00%
v3.25.4
BUSINESS SEGMENTS (Information by Segment) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Segment Reporting Information [Line Items]      
Sales [1] $ 298,328 $ 254,694 $ 279,083
Lower of cost or NRV 4,442 3,957 6,492
Gross Margin (Deficit) 54,816 29,082 36,846
Depreciation, depletion and amortization incurred [2] 40,569 37,689 39,400
Operating Segments [Member]      
Segment Reporting Information [Line Items]      
Sales 298,486 254,946 279,412
Operating Segments [Member] | Potash [Member]      
Segment Reporting Information [Line Items]      
Sales [1] 139,583 124,833 155,920
Lower of cost or NRV 4,442 3,957 2,709
Gross Margin (Deficit) 18,218 17,420 35,049
Depreciation, depletion and amortization incurred [2] 31,478 27,955 28,378
Operating Segments [Member] | Trio [Member]      
Segment Reporting Information [Line Items]      
Sales [1] 144,463 105,428 102,182
Lower of cost or NRV 0 0 3,783
Gross Margin (Deficit) 33,386 4,438 (3,995)
Depreciation, depletion and amortization incurred [2] 3,353 3,500 6,288
Operating Segments [Member] | Oil Field Solutions [Member]      
Segment Reporting Information [Line Items]      
Sales [1] 14,440 24,685 21,310
Lower of cost or NRV 0 0 0
Gross Margin (Deficit) 3,212 7,224 5,792
Depreciation, depletion and amortization incurred [2] 3,813 4,431 3,849
Intersegment Eliminations [Member]      
Segment Reporting Information [Line Items]      
Sales [1] (158) (252) (329)
Cost of goods sold (158) (252) (329)
Lower of cost or NRV 0 0  
Gross Margin (Deficit) 0 0 0
Corporate [Member]      
Segment Reporting Information [Line Items]      
Lower of cost or NRV     0
Depreciation, depletion and amortization incurred [2] 1,925 1,803 885
Freight costs [Member]      
Segment Reporting Information [Line Items]      
Cost of goods sold 48,277 38,765 37,635
Freight costs [Member] | Operating Segments [Member] | Potash [Member]      
Segment Reporting Information [Line Items]      
Cost of goods sold 15,617 13,176 14,753
Freight costs [Member] | Operating Segments [Member] | Trio [Member]      
Segment Reporting Information [Line Items]      
Cost of goods sold 32,818 25,841 23,211
Freight costs [Member] | Operating Segments [Member] | Oil Field Solutions [Member]      
Segment Reporting Information [Line Items]      
Cost of goods sold 0 0 0
Freight costs [Member] | Intersegment Eliminations [Member]      
Segment Reporting Information [Line Items]      
Cost of goods sold (158) (252) (329)
Warehouse and handling costs [Member]      
Segment Reporting Information [Line Items]      
Cost of goods sold 12,215 11,475 10,832
Warehouse and handling costs [Member] | Operating Segments [Member] | Potash [Member]      
Segment Reporting Information [Line Items]      
Cost of goods sold 6,530 6,306 5,957
Warehouse and handling costs [Member] | Operating Segments [Member] | Trio [Member]      
Segment Reporting Information [Line Items]      
Cost of goods sold 5,685 5,169 4,875
Warehouse and handling costs [Member] | Operating Segments [Member] | Oil Field Solutions [Member]      
Segment Reporting Information [Line Items]      
Cost of goods sold 0 0 0
Warehouse and handling costs [Member] | Intersegment Eliminations [Member]      
Segment Reporting Information [Line Items]      
Cost of goods sold 0 0 0
Mineral [Member]      
Segment Reporting Information [Line Items]      
Cost of goods sold 178,578 171,415 187,278
Mineral [Member] | Operating Segments [Member] | Potash [Member]      
Segment Reporting Information [Line Items]      
Cost of goods sold 94,776 83,974 97,452
Mineral [Member] | Operating Segments [Member] | Trio [Member]      
Segment Reporting Information [Line Items]      
Cost of goods sold 72,574 69,980 74,308
Mineral [Member] | Operating Segments [Member] | Oil Field Solutions [Member]      
Segment Reporting Information [Line Items]      
Cost of goods sold 11,228 17,461 15,518
Mineral [Member] | Intersegment Eliminations [Member]      
Segment Reporting Information [Line Items]      
Cost of goods sold $ 0 $ 0 $ 0
[1] Segment sales include the sales of byproducts generated during the production of potash and Trio®.
[2] Depreciation, depletion, and amortization incurred for potash and Trio® excludes depreciation, depletion, and amortization absorbed in or (relieved from) inventory.
v3.25.4
BUSINESS SEGMENTS (Cost of Goods Sold) (Details) - Mineral [Member] - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Segment Reporting Information [Line Items]      
Labor and benefits $ 65,624 $ 61,713 $ 70,777
Maintenance 17,902 15,114 15,641
Utilities and fuel 13,104 13,336 17,829
Operating supplies 17,060 15,216 14,878
Depreciation 32,546 30,795 34,891
Other [1] 32,342 35,241 33,262
Total cost of goods sold 178,578 171,415 187,278
Operating Segments [Member] | Potash [Member]      
Segment Reporting Information [Line Items]      
Labor and benefits 29,838 25,827 29,174
Maintenance 7,346 5,861 7,041
Utilities and fuel 7,564 7,916 9,627
Operating supplies 6,159 5,969 6,977
Depreciation 25,292 21,808 26,271
Other [1] 18,577 16,593 18,362
Total cost of goods sold 94,776 83,974 97,452
Operating Segments [Member] | Trio [Member]      
Segment Reporting Information [Line Items]      
Labor and benefits 30,965 31,626 36,441
Maintenance 9,959 8,224 7,719
Utilities and fuel 4,752 4,555 7,117
Operating supplies 10,674 8,952 7,407
Depreciation 3,353 4,488 4,741
Other [1] 12,871 12,135 10,883
Total cost of goods sold 72,574 69,980 74,308
Operating Segments [Member] | Oil Field Solutions [Member]      
Segment Reporting Information [Line Items]      
Labor and benefits 4,821 4,260 5,162
Maintenance 597 1,029 881
Utilities and fuel 788 865 1,085
Operating supplies 227 295 494
Depreciation 3,901 4,499 3,879
Other [1] 894 6,513 4,017
Total cost of goods sold $ 11,228 $ 17,461 $ 15,518
[1] Other expense includes property taxes, insurance, royalties, and other miscellaneous expenses.
v3.25.4
BUSINESS SEGMENTS (Segment Reconciliation) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Segment Reporting, Revenue Reconciling Item [Line Items]      
Sales [1] $ 298,328 $ 254,694 $ 279,083
Total gross margin for reportable segments 54,816 29,082 36,846
Selling and administrative 36,705 32,966 32,423
Impairment of long-lived assets 1,866 10,708 43,288
(Gain) loss on sale or disposal of assets (1,175) 1,952 807
Accretion of asset retirement obligation 2,603 2,489 2,140
Other operating income (4,811) (5,215) (1,329)
Other operating expense 8,963 6,040 3,486
Equity in earnings of unconsolidated entities 374 299 486
Interest Expense, Operating and Nonoperating 232 112 0
Interest income (2,432) (1,712) (298)
Other non-operating expense (income) 762 (45) (95)
Income (Loss) Before Income Taxes 11,729 (18,512) (44,062)
Operating Segments [Member]      
Segment Reporting, Revenue Reconciling Item [Line Items]      
Sales 298,486 254,946 279,412
Intersegment Eliminations [Member]      
Segment Reporting, Revenue Reconciling Item [Line Items]      
Sales [1] (158) (252) (329)
Total gross margin for reportable segments 0 0 0
Cost of goods sold $ 158 $ 252 $ 329
[1] Segment sales include the sales of byproducts generated during the production of potash and Trio®.
v3.25.4
CONCENTRATION OF CREDIT RISK (Narrative) (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2025
markets
customer
Dec. 31, 2024
USD ($)
customer
Dec. 31, 2023
USD ($)
customer
Concentration Risk [Line Items]      
Concentration risk number of customer 0 1 1
Number of primary markets (in markets) | markets 3    
Concentration risk number of customer 0 1 1
Concentration of risk customer, amount | $   $ 25.6 $ 33.4
v3.25.4
FINANCIAL INFORMATION FOR SUBSIDIARY GUARANTORS OF POSSIBLE FUTURE PUBLIC DEBT (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]      
Cash on hand $ 83,537 $ 41,309 $ 4,071
v3.25.4
SHARE REPURCHASE PROGRAM (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Feb. 28, 2022
Equity [Abstract]          
Stock repurchase program, authorized amount         $ 35.0
Shares repurchased 0 0 0 608,657  
Shares repurchased, amount       $ 22.0  
Remaining authorized repurchase amount $ 13.0        
v3.25.4
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]      
Valuation allowance, at beginning of year $ 203,552 $ 4,734 $ 3,850
Charged to costs and expenses 2,484 200,969 1,740
Deductions (5,484) (2,151) (856)
Valuation allowance, at end of year 200,552 203,552 4,734
SEC Schedule, 12-09, Valuation Allowance, Deferred Tax Asset [Member]      
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]      
Valuation allowance, at beginning of year 202,160 3,154 2,033
Charged to costs and expenses 0 199,006 1,121
Deductions (3,264) 0 0
Valuation allowance, at end of year 198,896 202,160 3,154
SEC Schedule, 12-09, Reserve For Parts Inventory Obsolescence [Member]      
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]      
Valuation allowance, at beginning of year 1,237 915 1,262
Charged to costs and expenses 2,422 1,843 509
Deductions (2,153) (1,521) (856)
Valuation allowance, at end of year 1,506 1,237 915
SEC Schedule, 12-09, Allowance For Doubtful Accounts And Other Receivables [Member]      
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]      
Valuation allowance, at beginning of year 155 665 555
Charged to costs and expenses 62 120 110
Deductions (67) (630) 0
Valuation allowance, at end of year $ 150 $ 155 $ 665