| DEBT
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Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
(In millions, except per unit data) | 2016 | 2015 | 2016 | 2015 | |||||||||||
Numerator: | |||||||||||||||
Net income attributable to Ciner Resources LP | $ | 11.1 | $ | 13.1 | $ | 31.6 | $ | 37.6 | |||||||
Less: General partner’s interest in net income | 0.2 | 0.3 | 0.6 | 0.8 | |||||||||||
Total limited partners’ interest in net income | $ | 10.9 | $ | 12.8 | $ | 31.0 | $ | 36.8 | |||||||
Denominator: | |||||||||||||||
Weighted average limited parter units outstanding: | |||||||||||||||
Common - Public and Ciner Holdings (basic and diluted) | 9.8 | 9.8 | 9.8 | 9.8 | |||||||||||
Subordinated - Ciner Holdings (basic and diluted) | 9.8 | 9.8 | 9.8 | 9.8 | |||||||||||
Weighted average limited partner units outstanding | 19.6 | 19.6 | 19.6 | 19.6 | |||||||||||
Net income per limited partner units: | |||||||||||||||
Common - Public and Ciner Holdings (basic and diluted) | $ | 0.56 | $ | 0.65 | $ | 1.58 | $ | 1.88 | |||||||
Subordinated - Ciner Holdings (basic and diluted) | $ | 0.55 | $ | 0.65 | $ | 1.58 | $ | 1.88 |
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
(In millions, except per unit data) | 2016 | 2015 | 2016 | 2015 | |||||||||||
Net income attributable to common unitholders: | |||||||||||||||
Distributions (a) | $ | 5.6 | $ | 5.4 | $ | 16.8 | $ | 16.0 | |||||||
(Distributions in excess of net income)/undistributed earnings | (0.1 | ) | 1.0 | (1.2 | ) | 2.4 | |||||||||
Common unitholders’ interest in net income | $ | 5.5 | $ | 6.4 | $ | 15.6 | $ | 18.4 | |||||||
Net income attributable to subordinated unitholders: | |||||||||||||||
Distributions (a) | $ | 5.6 | $ | 5.4 | $ | 16.6 | $ | 16.0 | |||||||
(Distributions in excess of net income)/undistributed earnings | (0.2 | ) | 1.0 | (1.2 | ) | 2.4 | |||||||||
Subordinated unitholders’ interest in net income | $ | 5.4 | $ | 6.4 | $ | 15.4 | $ | 18.4 | |||||||
(a) Distributions declared per unit for the period | $ | 0.5670 | $ | 0.5510 | $ | 1.698 | $ | 1.634 |
• | first, 98.0% to the common unitholders, pro rata, and 2.0% to our general partner, until we distribute for each common unit an amount equal to the minimum quarterly distribution for that quarter; |
• | second, 98.0% to the common unitholders, pro rata, and 2.0% to our general partner, until we distribute for each outstanding common unit an amount equal to any arrearages in the payment of the minimum quarterly distribution on the common units with respect to any prior quarters; |
• | third, 98.0% to the subordinated unitholders, pro rata, and 2.0% to our general partner, until we distribute for each subordinated unit an amount equal to the minimum quarterly distribution for that quarter; and |
• | thereafter, in the manner described in “General Partner Interest and Incentive Distribution Rights” below. |
Marginal Percentage Interest in Distributions | |||||||
Total Quarterly Distribution per Unit Target Amount | Unitholders | General Partner | |||||
Minimum Quarterly Distribution | $0.5000 | 98.0 | % | 2.0 | % | ||
First Target Distribution | above $0.5000 up to $0.5750 | 98.0 | % | 2.0 | % | ||
Second Target Distribution | above $0.5750 up to $0.6250 | 85.0 | % | 15.0 | % | ||
Third Target Distribution | above $0.6250 up to $0.7500 | 75.0 | % | 25.0 | % | ||
Thereafter | above $0.7500 | 50.0 | % | 50.0 | % |
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As of | |||||||
(In millions) | September 30, 2016 | December 31, 2015 | |||||
Raw materials | $ | 9.0 | $ | 9.1 | |||
Finished goods | 9.3 | 10.7 | |||||
Stores inventory | 27.0 | 27.1 | |||||
Total | $ | 45.3 | $ | 46.9 | |||
Less: Stores inventory classified as other non-current assets | (20.7 | ) | (20.5 | ) | |||
Inventory - current | $ | 24.6 | $ | 26.4 |
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As of | |||||||
(In millions) | September 30, 2016 | December 31, 2015 | |||||
Variable Rate Demand Revenue Bonds, principal due October 1, 2018, interest payable monthly, bearing an interest rate of 0.99% at September 30, 2016 and 0.11% December 31, 2015 | $ | 11.4 | $ | 11.4 | |||
Variable Rate Demand Revenue Bonds, principal due August 1, 2017, interest payable monthly, bearing an interest rate of 0.99% at September 30, 2016 and 0.11% December 31, 2015 | 8.6 | 8.6 | |||||
Ciner Wyoming credit facility, unsecured principal expiring on July 18, 2018, variable interest rate was a weighted average of 2.15% at September 30, 2016 and 2.07% at December 31, 2015 | 79.5 | 90.0 | |||||
Total debt | $ | 99.5 | $ | 110.0 | |||
Current portion of long-term debt | 8.6 | — | |||||
Total long-term debt | $ | 90.9 | $ | 110.0 |
(In millions) | Amount | ||
2017 | $ | 8.6 | |
2018 | $ | 90.9 | |
Total | $ | 99.5 |
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As of | |||||||
(In millions) | September 30, 2016 | December 31, 2015 | |||||
Reclamation reserve | $ | 5.5 | $ | 4.5 | |||
Derivative instruments and hedges, fair value liabilities | 3.6 | 2.3 | |||||
Total | $ | 9.1 | $ | 6.8 |
For the period ended | |||||||
(In millions) | September 30, 2016 | December 31, 2015 | |||||
Beginning reclamation reserve balance | $ | 4.5 | $ | 4.2 | |||
Accretion expense | 0.2 | 0.3 | |||||
Reclamation adjustments (1) | $ | 0.8 | $ | — | |||
Ending reclamation reserve balance | $ | 5.5 | $ | 4.5 |
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Nine Months Ended September 30, 2016 | Nine Months Ended September 30, 2015 | ||||||||||||
(Units in whole numbers) | Number of Units | Grant-Date Average Fair Value per Unit (1) | Number of Units | Grant-Date Average Fair Value per Unit (1) | |||||||||
Unvested at the beginning of period | — | $ | — | 15,859 | $ | 25.23 | |||||||
Granted | 39,170 | 22.50 | 8,347 | 22.51 | |||||||||
Vested | — | — | (6,652 | ) | 23.70 | ||||||||
Unvested at the end of the period | 39,170 | $ | 22.50 | 17,554 | $ | 24.67 |
Nine Months Ended September 30, 2016 | Nine Months Ended September 30, 2015 | ||||||||||||
(Units in whole numbers) | Number of Units | Grant-Date Average Fair Value per Unit (1) | Number of Units | Grant-Date Average Fair Value per Unit (1) | |||||||||
Unvested at the beginning of period | — | $ | — | 7,658 | $ | 35.72 | |||||||
Granted | 5,787 | 43.93 | 7,235 | 24.64 | |||||||||
Unvested at the end of the period | 5,787 | $ | 43.93 | 14,893 | $ | 30.34 |
Nine Months Ended September 30, 2016 | Nine Months Ended September 30, 2015 | ||||||||||
Unrecognized Compensation Expense (In millions) | Weighted Average to be Recognized (In years) | Unrecognized Compensation Expense (In millions) | Weighted Average to be Recognized (In years) | ||||||||
Time-based units | $ | 0.6 | 1.85 | $ | 0.3 | 1.74 | |||||
Performance-based units | 0.2 | 2.34 | 0.3 | 1.75 | |||||||
Total | $ | 0.8 | $ | 0.6 |
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Gains and Losses on Cash Flow Hedges | ||||
(In millions) | ||||
Balance at December 31, 2015 | $ | (2.1 | ) | |
Other comprehensive loss before reclassification | (1.3 | ) | ||
Amounts reclassified from accumulated other comprehensive loss | 0.8 | |||
Net current period other comprehensive loss | (0.5 | ) | ||
Balance at September 30, 2016 | $ | (2.6 | ) |
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
(In millions) | 2016 | 2015 | 2016 | 2015 | ||||||||||||
Unrealized gain/(loss) on derivatives: | ||||||||||||||||
Mark to market adjustment on interest rate swap contracts | $ | 0.5 | $ | (0.5 | ) | $ | (0.2 | ) | $ | (0.8 | ) | |||||
Mark to market adjustment on natural gas forward contracts | (1.8 | ) | (1.8 | ) | (0.7 | ) | (3.1 | ) | ||||||||
Income/(loss) on derivative financial instruments | $ | (1.3 | ) | $ | (2.3 | ) | $ | (0.9 | ) | $ | (3.9 | ) |
Three Months Ended September 30, | Nine Months Ended September 30, | Affected Line Items on the Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income | ||||||||||||||||
(In millions) | 2016 | 2015 | 2016 | 2015 | ||||||||||||||
Details about other comprehensive income/(loss) components: | ||||||||||||||||||
Gains and losses on cash flow hedges: | ||||||||||||||||||
Interest rate swap contracts | $ | 0.1 | $ | 0.1 | $ | 0.3 | $ | 0.4 | Interest expense | |||||||||
Natural gas forward contracts | $ | 0.1 | $ | — | $ | 0.5 | $ | — | Cost of products sold | |||||||||
Total reclassifications for the period | $ | 0.2 | $ | 0.1 | $ | 0.8 | $ | 0.4 |
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Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
(In millions) | 2016 | 2015 | 2016 | 2015 | |||||||||||
OCI Enterprises Inc. | $ | — | $ | 1.9 | $ | — | $ | 5.9 | |||||||
Ciner Corp | 4.1 | 0.6 | 11.5 | 2.7 | |||||||||||
ANSAC (1) | 0.9 | 0.7 | 2.7 | 2.5 | |||||||||||
Total selling, general and administrative expenses - Affiliates | $ | 5.0 | $ | 3.2 | $ | 14.2 | $ | 11.1 |
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
(In millions) | 2016 | 2015 | 2016 | 2015 | |||||||||||
ANSAC | $ | 69.9 | $ | 63.9 | $ | 199.4 | $ | 190.3 | |||||||
OCI Alabama LLC | — | 1.3 | — | 3.9 | |||||||||||
Total | $ | 69.9 | $ | 65.2 | $ | 199.4 | $ | 194.2 |
As of | |||||||||||||||
(In millions) | September 30, 2016 | December 31, 2015 | September 30, 2016 | December 31, 2015 | |||||||||||
Due from affiliates | Due to affiliates | ||||||||||||||
Ciner Enterprises | $ | — | $ | — | $ | 0.3 | $ | — | |||||||
Ciner Corp | 4.7 | 7.1 | 2.1 | 1.9 | |||||||||||
Ciner Resources Europe NV | 1.6 | 4.8 | — | — | |||||||||||
Other | — | — | 0.8 | 2.7 | |||||||||||
Total | $ | 6.3 | $ | 11.9 | $ | 3.2 | $ | 4.6 |
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Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
(In millions) | 2016 | 2015 | 2016 | 2015 | |||||||||||
Domestic | $ | 48.4 | $ | 47.2 | $ | 144.3 | $ | 145.6 | |||||||
International | |||||||||||||||
ANSAC | 69.9 | 63.9 | 199.4 | 190.3 | |||||||||||
Other | 2.7 | 6.2 | 8.4 | 24.1 | |||||||||||
Total international | 72.6 | 70.1 | 207.8 | 214.4 | |||||||||||
Total net sales | $ | 121.0 | $ | 117.3 | $ | 352.1 | $ | 360.0 |
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| Level 1-inputs to the valuation methodology are quoted prices (unadjusted) for an identical asset or liability in an active market. |
| Level 2-inputs to the valuation methodology include quoted prices for a similar asset or liability in an active market or model-derived valuations in which all significant inputs are observable for substantially the full term of the asset or liability. |
| Level 3-inputs to the valuation methodology are unobservable and significant to the fair value measurement of the asset or liability. |
Assets | Liabilities | ||||||||||||||||||||||
September 30, 2016 | December 31, 2015 | September 30, 2016 | December 31, 2015 | ||||||||||||||||||||
(In millions) | Balance Sheet Location | Fair Value | Balance Sheet Location | Fair Value | Balance Sheet Location | Fair Value | Balance Sheet Location | Fair Value | |||||||||||||||
Derivatives designated as hedges: | |||||||||||||||||||||||
Interest rate swap contracts - current | $ | — | $ | — | Accrued Expenses | $ | 1.0 | Accrued Expenses | $ | 0.8 | |||||||||||||
Natural gas forward contracts - current | — | — | Accrued Expenses | 0.5 | Accrued Expenses | 1.0 | |||||||||||||||||
Natural gas forward contracts - non-current | — | — | Other non-current liabilities | 3.6 | Other non-current liabilities | 2.3 | |||||||||||||||||
Total derivatives designated as hedging instruments | $ | — | $ | — | $ | 5.1 | $ | 4.1 | |||||||||||||||
Derivatives not designated as hedging instruments: | |||||||||||||||||||||||
Foreign exchange forward contracts | $ | — | Other current assets | $ | 0.1 | $ | — | $ | — | ||||||||||||||
Total derivatives not designated as hedging instruments | $ | — | $ | 0.1 | $ | — | $ | — | |||||||||||||||
Total derivatives | $ | — | $ | 0.1 | $ | 5.1 | $ | 4.1 |
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Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
(In millions, except per unit data) | 2016 | 2015 | 2016 | 2015 | |||||||||||
Numerator: | |||||||||||||||
Net income attributable to Ciner Resources LP | $ | 11.1 | $ | 13.1 | $ | 31.6 | $ | 37.6 | |||||||
Less: General partner’s interest in net income | 0.2 | 0.3 | 0.6 | 0.8 | |||||||||||
Total limited partners’ interest in net income | $ | 10.9 | $ | 12.8 | $ | 31.0 | $ | 36.8 | |||||||
Denominator: | |||||||||||||||
Weighted average limited parter units outstanding: | |||||||||||||||
Common - Public and Ciner Holdings (basic and diluted) | 9.8 | 9.8 | 9.8 | 9.8 | |||||||||||
Subordinated - Ciner Holdings (basic and diluted) | 9.8 | 9.8 | 9.8 | 9.8 | |||||||||||
Weighted average limited partner units outstanding | 19.6 | 19.6 | 19.6 | 19.6 | |||||||||||
Net income per limited partner units: | |||||||||||||||
Common - Public and Ciner Holdings (basic and diluted) | $ | 0.56 | $ | 0.65 | $ | 1.58 | $ | 1.88 | |||||||
Subordinated - Ciner Holdings (basic and diluted) | $ | 0.55 | $ | 0.65 | $ | 1.58 | $ | 1.88 |
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
(In millions, except per unit data) | 2016 | 2015 | 2016 | 2015 | |||||||||||
Net income attributable to common unitholders: | |||||||||||||||
Distributions (a) | $ | 5.6 | $ | 5.4 | $ | 16.8 | $ | 16.0 | |||||||
(Distributions in excess of net income)/undistributed earnings | (0.1 | ) | 1.0 | (1.2 | ) | 2.4 | |||||||||
Common unitholders’ interest in net income | $ | 5.5 | $ | 6.4 | $ | 15.6 | $ | 18.4 | |||||||
Net income attributable to subordinated unitholders: | |||||||||||||||
Distributions (a) | $ | 5.6 | $ | 5.4 | $ | 16.6 | $ | 16.0 | |||||||
(Distributions in excess of net income)/undistributed earnings | (0.2 | ) | 1.0 | (1.2 | ) | 2.4 | |||||||||
Subordinated unitholders’ interest in net income | $ | 5.4 | $ | 6.4 | $ | 15.4 | $ | 18.4 | |||||||
(a) Distributions declared per unit for the period | $ | 0.5670 | $ | 0.5510 | $ | 1.698 | $ | 1.634 |
Marginal Percentage Interest in Distributions | |||||||
Total Quarterly Distribution per Unit Target Amount | Unitholders | General Partner | |||||
Minimum Quarterly Distribution | $0.5000 | 98.0 | % | 2.0 | % | ||
First Target Distribution | above $0.5000 up to $0.5750 | 98.0 | % | 2.0 | % | ||
Second Target Distribution | above $0.5750 up to $0.6250 | 85.0 | % | 15.0 | % | ||
Third Target Distribution | above $0.6250 up to $0.7500 | 75.0 | % | 25.0 | % | ||
Thereafter | above $0.7500 | 50.0 | % | 50.0 | % |
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As of | |||||||
(In millions) | September 30, 2016 | December 31, 2015 | |||||
Raw materials | $ | 9.0 | $ | 9.1 | |||
Finished goods | 9.3 | 10.7 | |||||
Stores inventory | 27.0 | 27.1 | |||||
Total | $ | 45.3 | $ | 46.9 | |||
Less: Stores inventory classified as other non-current assets | (20.7 | ) | (20.5 | ) | |||
Inventory - current | $ | 24.6 | $ | 26.4 |
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As of | |||||||
(In millions) | September 30, 2016 | December 31, 2015 | |||||
Variable Rate Demand Revenue Bonds, principal due October 1, 2018, interest payable monthly, bearing an interest rate of 0.99% at September 30, 2016 and 0.11% December 31, 2015 | $ | 11.4 | $ | 11.4 | |||
Variable Rate Demand Revenue Bonds, principal due August 1, 2017, interest payable monthly, bearing an interest rate of 0.99% at September 30, 2016 and 0.11% December 31, 2015 | 8.6 | 8.6 | |||||
Ciner Wyoming credit facility, unsecured principal expiring on July 18, 2018, variable interest rate was a weighted average of 2.15% at September 30, 2016 and 2.07% at December 31, 2015 | 79.5 | 90.0 | |||||
Total debt | $ | 99.5 | $ | 110.0 | |||
Current portion of long-term debt | 8.6 | — | |||||
Total long-term debt | $ | 90.9 | $ | 110.0 |
(In millions) | Amount | ||
2017 | $ | 8.6 | |
2018 | $ | 90.9 | |
Total | $ | 99.5 |
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As of | |||||||
(In millions) | September 30, 2016 | December 31, 2015 | |||||
Reclamation reserve | $ | 5.5 | $ | 4.5 | |||
Derivative instruments and hedges, fair value liabilities | 3.6 | 2.3 | |||||
Total | $ | 9.1 | $ | 6.8 |
For the period ended | |||||||
(In millions) | September 30, 2016 | December 31, 2015 | |||||
Beginning reclamation reserve balance | $ | 4.5 | $ | 4.2 | |||
Accretion expense | 0.2 | 0.3 | |||||
Reclamation adjustments (1) | $ | 0.8 | $ | — | |||
Ending reclamation reserve balance | $ | 5.5 | $ | 4.5 |
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Nine Months Ended September 30, 2016 | Nine Months Ended September 30, 2015 | ||||||||||||
(Units in whole numbers) | Number of Units | Grant-Date Average Fair Value per Unit (1) | Number of Units | Grant-Date Average Fair Value per Unit (1) | |||||||||
Unvested at the beginning of period | — | $ | — | 15,859 | $ | 25.23 | |||||||
Granted | 39,170 | 22.50 | 8,347 | 22.51 | |||||||||
Vested | — | — | (6,652 | ) | 23.70 | ||||||||
Unvested at the end of the period | 39,170 | $ | 22.50 | 17,554 | $ | 24.67 |
Nine Months Ended September 30, 2016 | Nine Months Ended September 30, 2015 | ||||||||||||
(Units in whole numbers) | Number of Units | Grant-Date Average Fair Value per Unit (1) | Number of Units | Grant-Date Average Fair Value per Unit (1) | |||||||||
Unvested at the beginning of period | — | $ | — | 7,658 | $ | 35.72 | |||||||
Granted | 5,787 | 43.93 | 7,235 | 24.64 | |||||||||
Unvested at the end of the period | 5,787 | $ | 43.93 | 14,893 | $ | 30.34 |
Nine Months Ended September 30, 2016 | Nine Months Ended September 30, 2015 | ||||||||||
Unrecognized Compensation Expense (In millions) | Weighted Average to be Recognized (In years) | Unrecognized Compensation Expense (In millions) | Weighted Average to be Recognized (In years) | ||||||||
Time-based units | $ | 0.6 | 1.85 | $ | 0.3 | 1.74 | |||||
Performance-based units | 0.2 | 2.34 | 0.3 | 1.75 | |||||||
Total | $ | 0.8 | $ | 0.6 |
Nine Months Ended September 30, 2016 | Nine Months Ended September 30, 2015 | ||||||||||
Unrecognized Compensation Expense (In millions) | Weighted Average to be Recognized (In years) | Unrecognized Compensation Expense (In millions) | Weighted Average to be Recognized (In years) | ||||||||
Time-based units | $ | 0.6 | 1.85 | $ | 0.3 | 1.74 | |||||
Performance-based units | 0.2 | 2.34 | 0.3 | 1.75 | |||||||
Total | $ | 0.8 | $ | 0.6 |
|
Gains and Losses on Cash Flow Hedges | ||||
(In millions) | ||||
Balance at December 31, 2015 | $ | (2.1 | ) | |
Other comprehensive loss before reclassification | (1.3 | ) | ||
Amounts reclassified from accumulated other comprehensive loss | 0.8 | |||
Net current period other comprehensive loss | (0.5 | ) | ||
Balance at September 30, 2016 | $ | (2.6 | ) |
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
(In millions) | 2016 | 2015 | 2016 | 2015 | ||||||||||||
Unrealized gain/(loss) on derivatives: | ||||||||||||||||
Mark to market adjustment on interest rate swap contracts | $ | 0.5 | $ | (0.5 | ) | $ | (0.2 | ) | $ | (0.8 | ) | |||||
Mark to market adjustment on natural gas forward contracts | (1.8 | ) | (1.8 | ) | (0.7 | ) | (3.1 | ) | ||||||||
Income/(loss) on derivative financial instruments | $ | (1.3 | ) | $ | (2.3 | ) | $ | (0.9 | ) | $ | (3.9 | ) |
Three Months Ended September 30, | Nine Months Ended September 30, | Affected Line Items on the Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income | ||||||||||||||||
(In millions) | 2016 | 2015 | 2016 | 2015 | ||||||||||||||
Details about other comprehensive income/(loss) components: | ||||||||||||||||||
Gains and losses on cash flow hedges: | ||||||||||||||||||
Interest rate swap contracts | $ | 0.1 | $ | 0.1 | $ | 0.3 | $ | 0.4 | Interest expense | |||||||||
Natural gas forward contracts | $ | 0.1 | $ | — | $ | 0.5 | $ | — | Cost of products sold | |||||||||
Total reclassifications for the period | $ | 0.2 | $ | 0.1 | $ | 0.8 | $ | 0.4 |
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Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
(In millions) | 2016 | 2015 | 2016 | 2015 | |||||||||||
OCI Enterprises Inc. | $ | — | $ | 1.9 | $ | — | $ | 5.9 | |||||||
Ciner Corp | 4.1 | 0.6 | 11.5 | 2.7 | |||||||||||
ANSAC (1) | 0.9 | 0.7 | 2.7 | 2.5 | |||||||||||
Total selling, general and administrative expenses - Affiliates | $ | 5.0 | $ | 3.2 | $ | 14.2 | $ | 11.1 |
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
(In millions) | 2016 | 2015 | 2016 | 2015 | |||||||||||
ANSAC | $ | 69.9 | $ | 63.9 | $ | 199.4 | $ | 190.3 | |||||||
OCI Alabama LLC | — | 1.3 | — | 3.9 | |||||||||||
Total | $ | 69.9 | $ | 65.2 | $ | 199.4 | $ | 194.2 |
As of | |||||||||||||||
(In millions) | September 30, 2016 | December 31, 2015 | September 30, 2016 | December 31, 2015 | |||||||||||
Due from affiliates | Due to affiliates | ||||||||||||||
Ciner Enterprises | $ | — | $ | — | $ | 0.3 | $ | — | |||||||
Ciner Corp | 4.7 | 7.1 | 2.1 | 1.9 | |||||||||||
Ciner Resources Europe NV | 1.6 | 4.8 | — | — | |||||||||||
Other | — | — | 0.8 | 2.7 | |||||||||||
Total | $ | 6.3 | $ | 11.9 | $ | 3.2 | $ | 4.6 |
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Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
(In millions) | 2016 | 2015 | 2016 | 2015 | |||||||||||
Domestic | $ | 48.4 | $ | 47.2 | $ | 144.3 | $ | 145.6 | |||||||
International | |||||||||||||||
ANSAC | 69.9 | 63.9 | 199.4 | 190.3 | |||||||||||
Other | 2.7 | 6.2 | 8.4 | 24.1 | |||||||||||
Total international | 72.6 | 70.1 | 207.8 | 214.4 | |||||||||||
Total net sales | $ | 121.0 | $ | 117.3 | $ | 352.1 | $ | 360.0 |
|
Assets | Liabilities | ||||||||||||||||||||||
September 30, 2016 | December 31, 2015 | September 30, 2016 | December 31, 2015 | ||||||||||||||||||||
(In millions) | Balance Sheet Location | Fair Value | Balance Sheet Location | Fair Value | Balance Sheet Location | Fair Value | Balance Sheet Location | Fair Value | |||||||||||||||
Derivatives designated as hedges: | |||||||||||||||||||||||
Interest rate swap contracts - current | $ | — | $ | — | Accrued Expenses | $ | 1.0 | Accrued Expenses | $ | 0.8 | |||||||||||||
Natural gas forward contracts - current | — | — | Accrued Expenses | 0.5 | Accrued Expenses | 1.0 | |||||||||||||||||
Natural gas forward contracts - non-current | — | — | Other non-current liabilities | 3.6 | Other non-current liabilities | 2.3 | |||||||||||||||||
Total derivatives designated as hedging instruments | $ | — | $ | — | $ | 5.1 | $ | 4.1 | |||||||||||||||
Derivatives not designated as hedging instruments: | |||||||||||||||||||||||
Foreign exchange forward contracts | $ | — | Other current assets | $ | 0.1 | $ | — | $ | — | ||||||||||||||
Total derivatives not designated as hedging instruments | $ | — | $ | 0.1 | $ | — | $ | — | |||||||||||||||
Total derivatives | $ | — | $ | 0.1 | $ | 5.1 | $ | 4.1 |
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