SISECAM RESOURCES LP, 10-Q filed on 5/2/2022
Quarterly Report
v3.22.1
COVER - shares
 3 Months Ended
Mar. 31, 2022
Apr. 28, 2022
Document Information [Line Items]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Mar. 31, 2022  
Document Transition Report false  
Entity File Number 001-36062  
Entity Registrant Name SISECAM RESOURCES LP  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 46-2613366  
Entity Address, Address Line One Five Concourse Parkway  
Entity Address, Address Line Two Suite 2500  
Entity Address, City or Town Atlanta  
Entity Address, State or Province GA  
Entity Address, Postal Zip Code 30328  
City Area Code 770  
Local Phone Number 375-2300  
Title of 12(b) Security Common units representing limited partnership interests  
Trading Symbol SIRE  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Accelerated Filer  
Small Business Entity false  
Emerging Growth Company false  
Entity Shell Company false  
Entity Central Index Key 0001575051  
Current Fiscal Year End Date --12-31  
Document Fiscal Year Focus 2022  
Document Fiscal Period Focus Q1  
Amendment Flag false  
Common Unitholders    
Document Information [Line Items]    
Entity Common Stock, Shares Outstanding   19,799,791
General Partner    
Document Information [Line Items]    
Entity Common Stock, Shares Outstanding   399,000
v3.22.1
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Millions
Mar. 31, 2022
Dec. 31, 2021
Current assets:    
Cash and cash equivalents $ 3.3 $ 2.7
Accounts receivable—affiliates 50.6 49.3
Accounts receivable, net 142.3 116.9
Inventory 39.1 30.1
Other current assets 12.4 9.0
Total current assets 247.7 208.0
Property, plant and equipment, net 304.5 304.2
Other non-current assets 32.6 31.1
Total assets 584.8 543.3
Current liabilities:    
Current portion of long-term debt 8.6 8.6
Accounts payable 28.4 21.9
Due to affiliates 3.9 2.3
Accrued expenses 33.4 41.0
Total current liabilities 74.3 73.8
Long-term debt 142.8 115.0
Other non-current liabilities 12.8 9.8
Total liabilities 229.9 198.6
Commitments and contingencies
Equity:    
Common unitholders - Public and Sisecam Chemicals Wyoming LLC(19.8 units issued and outstanding at March 31, 2022 and December 31, 2021) 189.8 187.4
General partner unitholders - Sisecam Resource Partners LLC (0.4 units issued and outstanding at March 31, 2022 and December 31, 2021) 4.3 4.6
Accumulated other comprehensive income 5.7 3.0
Partners’ capital attributable to Sisecam Resources LP 199.8 195.0
Noncontrolling interest 155.1 149.7
Total equity 354.9 344.7
Total liabilities and partners’ equity $ 584.8 $ 543.3
v3.22.1
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - shares
shares in Millions
Mar. 31, 2022
Dec. 31, 2021
Statement of Financial Position [Abstract]    
Common units issued (in shares) 19.8 19.8
Common units outstanding (in shares) 19.8 19.8
General partner units issued (in shares) 0.4 0.4
General partner units outstanding (in shares) 0.4 0.4
v3.22.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (Unaudited) - USD ($)
shares in Millions, $ in Millions
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Income Statement [Abstract]    
Net Sales $ 163.4 $ 127.8
Operating costs and expenses:    
Cost of products sold including freight costs (excludes depreciation, depletion and amortization expense set forth separately below) 117.4 106.6
Depreciation, depletion and amortization expense 6.5 8.7
Selling, general and administrative expenses—affiliates 5.4 3.6
Selling, general and administrative expenses—others 1.2 2.0
Total operating costs and expenses 130.5 120.9
Operating income 32.9 6.9
Other expenses:    
Interest expense 1.1 1.3
Total other expense, net 1.1 1.3
Net income 31.8 5.6
Net income attributable to noncontrolling interest 16.1 3.2
Net income attributable to Sisecam Resources LP 15.7 2.4
Other comprehensive income:    
Gain on derivative financial instruments 5.2 1.5
Comprehensive income 37.0 7.1
Comprehensive income attributable to noncontrolling interest 18.6 3.9
Comprehensive income attributable to Sisecam Resources LP $ 18.4 $ 3.2
Net income per limited partner unit:    
Net income per limited partner unit - (basic) (in dollars per share) $ 0.78 $ 0.12
Net income per limited partner unit - (diluted) (in dollars per share) $ 0.78 $ 0.12
Limited partner units outstanding:    
Weighted average limited partner units outstanding - (basic) (in shares) 19.8 19.7
Weighted average limited partner units outstanding - (diluted) (in shares) 19.8 19.8
v3.22.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net income $ 31.8 $ 5.6
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization expense 6.6 8.7
Equity-based compensation expenses 0.0 0.1
Other non-cash items 0.4 0.1
Changes in operating assets and liabilities:    
Accounts receivable—affiliates (1.3) (2.3)
Accounts receivable, net (25.4) (31.8)
Inventory (9.1) 2.5
Other current and non-current assets (1.1) (0.3)
Accounts payable 5.8 13.3
Due to affiliates 1.6 (0.8)
Accrued expenses and other liabilities (1.6) (1.5)
Net cash provided (used) by operating activities 7.7 (6.4)
Cash flows from investing activities:    
Capital expenditures (8.2) (5.4)
Net cash used in investing activities (8.2) (5.4)
Cash flows from financing activities:    
Repayments on Sisecam Wyoming Equipment Financing Arrangement (2.1) (0.8)
Distributions to common unitholders, general partner, and noncontrolling interest (26.6) (3.9)
Common units surrendered for taxes (0.2) 0.0
Other 0.0 (0.3)
Net cash used in financing activities 1.1 14.0
Net increase in cash and cash equivalents 0.6 2.2
Cash and cash equivalents at beginning of period 2.7 0.5
Cash and cash equivalents at end of period 3.3 2.7
Supplemental disclosure of cash flow information:    
Interest paid during the period 1.0 1.0
Supplemental disclosure of non-cash investing activities:    
Capital expenditures on account 3.2 4.3
Sisecam Wyoming Credit Facility    
Cash flows from financing activities:    
Borrowings on Credit Facility 40.0 35.0
Repayments on Credit Facility (10.0) (15.0)
Ciner Resources Credit Facility    
Cash flows from financing activities:    
Borrowings on Credit Facility 0.0 1.0
Repayments on Credit Facility $ 0.0 $ (2.0)
v3.22.1
CONDENSED CONSOLIDATED STATEMENTS OF EQUITY (Unaudited) - USD ($)
$ in Millions
Total
Accumulated Other Comprehensive Income (Loss)
Partners’ Capital Attributable to Sisecam Resources LP Equity
Noncontrolling Interest
Common Unitholders
Partnership units
General Partner
Partnership units
Beginning balance at Dec. 31, 2020 $ 305.3 $ 0.0 $ 174.2 $ 131.1 $ 170.0 $ 4.2
Increase (decrease) in shareholders' equity            
Net income 5.6   2.4 3.2 2.4  
Other comprehensive (loss)/income 1.5 0.8 0.8 0.7    
Distributions (3.9)     (3.9)    
Ending balance at Mar. 31, 2021 308.5 0.8 177.4 131.1 172.4 4.2
Beginning balance at Dec. 31, 2021 344.7 3.0 195.0 149.7 187.4 4.6
Increase (decrease) in shareholders' equity            
Net income 31.8   15.7 16.1 15.4 0.3
Other comprehensive (loss)/income 5.2 2.7 2.7 2.5    
Equity-based compensation plan activity (0.2)   (0.2)   (0.2)  
Distributions (26.6)   (13.4) (13.2) (12.8) (0.6)
Ending balance at Mar. 31, 2022 $ 354.9 $ 5.7 $ 199.8 $ 155.1 $ 189.8 $ 4.3
v3.22.1
CORPORATE STRUCTURE AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
 3 Months Ended
Mar. 31, 2022
Accounting Policies [Abstract]  
CORPORATE STRUCTURE AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES CORPORATE STRUCTURE AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Nature of Operations
As used in this Report, the terms “Sisecam Resources LP,” “the Partnership,” “SIRE,” “we,” “us,” or “our” may refer to Sisecam Resources LP, a publicly traded Delaware limited partnership formed in April 2013 by both Sisecam Chemicals Wyoming LLC (“SCW LLC”), a wholly-owned subsidiary of Sisecam Chemicals Resources LLC (“Sisecam Chemicals”) and Sisecam Resource Partners LLC (our “general partner” or “Sisecam GP”), a wholly-owned subsidiary of SCW LLC. Sisecam Chemicals is 60% owned by Sisecam Chemicals USA Inc. (“Sisecam USA”) and 40% owned by Ciner Enterprises Inc. (“Ciner Enterprises”). Sisecam USA is a direct subsidiary of Türkiye Sise ve Cam Fabrikalari A.S (“Şişecam Parent”) which is an approximately 51%-owned subsidiary of Turkiye Is Bankasi Turkiye Is Bankasi ("Isbank").
Şişecam Parent is a global company operating in soda ash, chromium chemicals, flat glass, auto glass, glassware glass packaging and glass fiber sectors and is based in Turkey and is listed on the Istanbul exchange. Ciner Enterprises is a direct wholly-owned subsidiary of WE Soda Ltd., a U.K. Corporation (“WE Soda”). WE Soda is a direct wholly-owned subsidiary of KEW Soda Ltd., a U.K. corporation (“KEW Soda”), which is a direct wholly-owned subsidiary of Akkan Enerji ve Madencilik Anonim Şirketi (“Akkan”). Akkan is directly and wholly owned by Turgay Ciner, the Chairman of the Ciner Group (“Ciner Group”), a Turkish conglomerate of companies engaged in energy and mining (including soda ash mining), media and shipping markets.
Sisecam Wyoming LLC (“Sisecam Wyoming”) is in the business of mining trona ore to produce soda ash, and is a 51.0% majority-owned subsidiary of the Partnership. The Partnership’s operations consist solely of its investment in Sisecam Wyoming. NRP Trona LLC, a wholly owned subsidiary of Natural Resource Partners L.P. (“NRP”), currently owns a 49.0% membership interest in Sisecam Wyoming. NRP’s membership interest in Sisecam Wyoming is reflected as the noncontrolling interest in the Partnership’s financial results.
All of our soda ash processed is currently sold to various domestic and international customers. Sisecam Chemicals is the exclusive sales agent for the Partnership. Sisecam Chemicals has leveraged the distributor network established by Ciner Group while independently reviewing current and potential distribution partners to optimize the Partnership’s reach into each market.
Completed Change in Control Transaction
On December 21, 2021, Ciner Enterprises (which was the indirect owner of approximately 74% of the common units in the Partnership) completed the following transactions pursuant to the definitive agreement which Ciner Enterprises entered into with Sisecam USA, a direct subsidiary of Şişecam Parent on November 20, 2021:
•Ciner Enterprises converted Ciner Resources Corporation into Sisecam Chemicals Resources LLC, a Delaware limited liability company ("Sisecam Chemicals"), and Ciner Wyoming Holding Co., a direct wholly-owned subsidiary of Sisecam Chemicals, into Sisecam Chemicals Wyoming LLC (“SCW LLC”), with SCW LLC in turn then directly owning approximately 74% of the common units in the Partnership and 100% of the general partner, and Sisecam USA purchased 60% of the outstanding units of Sisecam Chemicals owned by Ciner Enterprises for a purchase price of $300 million (the “Sisecam Chemicals Sale”); and
•at the closing of the Sisecam Chemicals Sale, Sisecam Chemicals, Ciner Enterprises, and Sisecam USA entered into a unitholders and operating agreement (the “Sisecam Chemicals Operating Agreement”) (collectively such transactions, the “CoC Transaction”).
Pursuant to the terms of the Sisecam Chemicals Operating Agreement, Sisecam USA and Ciner Enterprises have a right to designate six directors and four directors, respectively, to the board of directors of Sisecam Chemicals. In addition, the Sisecam Chemicals Operating Agreement provides that (i) the board of directors of the general partner (the “MLP Board”) shall consist of six designees from Sisecam USA, two designees from Ciner Enterprises and three independent directors for as long as the general partner is legally required to appoint such independent directors and (ii) the Partnership’s right to appoint four managers to the board of managers of Sisecam Wyoming (the “Wyoming Board”) shall be comprised of three designees from Sisecam USA and one designee from Ciner Enterprises. Each of Sisecam USA and Ciner Enterprises shall vote all units over which such unitholder has voting control in Sisecam Chemicals to elect to the board of directors any individual designated by Sisecam USA and Ciner Enterprises. The Sisecam Chemicals Operating Agreement also requires the board of directors of Sisecam Chemicals to unanimously approve certain actions and commitments, including without limitation taking any action that would have an adverse effect on the master limited partnership status of the Partnership or any of its subsidiaries. As a result of Sisecam USA’s and Ciner Enterprise’s respective interests in Sisecam Chemicals and their respective rights under the Sisecam Chemicals Operating Agreement, each of Ciner Enterprises and
Sisecam USA and their respective beneficial owners may be deemed to share beneficial ownership of the approximate 2% general partner interest in the Partnership and approximately 74% of the common units in the Partnership owned directly by SCW LLC and indirectly by Sisecam Chemicals as parent entity of SCW LLC.
Basis of Presentation and Significant Accounting Policies
The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“GAAP”) applicable to interim period financial statements and reflect all adjustments, consisting of normal recurring accruals, which are necessary for fair presentation of the results of operations, financial position and cash flows for the periods presented. All intercompany transactions, balances, revenue and expenses have been eliminated in consolidation. The results of operations for the three month periods ended March 31, 2022 and 2021 are not necessarily indicative of the operating results for the full year.
These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes to audited consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2021 (the “2021 Annual Report”) filed with the United States Securities and Exchange Commission (“SEC”) on March 15, 2022. There have been no material changes in the significant accounting policies followed by us during the three months ended March 31, 2022 from those disclosed in the 2021 Annual Report.
Noncontrolling Interest
NRP Trona LLC, a wholly-owned subsidiary of Natural Resource Partners L.P. ("NRP"), currently owns a 49.0% membership interest in Sisecam Wyoming. NRP’s membership interest in Sisecam Wyoming is reflected as the noncontrolling interest in the Partnership’s financial results.
Segment Reporting
As the Partnership earns substantially all of its revenues through the sale of soda ash mined at a single location, we have concluded that we have one operating segment for reporting purposes.
Use of Estimates
The preparation of these unaudited condensed consolidated financial statements, in accordance with GAAP, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities at the dates of the unaudited condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Furthermore, we considered the impact of the COVID-19 pandemic on the use of estimates and assumptions used for financial reporting. While our production has recovered from the COVID-19 pandemic’s negative impact, given we still cannot predict the COVID-19 pandemic and its impact on our operations, the potential negative financial impact to our results cannot be reasonably estimated but could be material. As a result of these uncertainties, actual results could differ from those estimates and assumptions and our business, financial condition and results of operations may be further materially and adversely impacted.
Subsequent Events
We have evaluated subsequent events through the filing date of this Quarterly Report on Form 10-Q.
v3.22.1
NET INCOME PER UNIT AND CASH DISTRIBUTION
 3 Months Ended
Mar. 31, 2022
Earnings Per Share [Abstract]  
NET INCOME PER UNIT AND CASH DISTRIBUTION NET INCOME PER UNIT AND CASH DISTRIBUTION
Allocation of Net Income
Net income per unit applicable to limited partners is computed by dividing limited partners’ interest in net income attributable to Sisecam Resources LP, after deducting the general partner’s interest and any incentive distributions, by the weighted average number of outstanding common units. Our net income is allocated to the general partner and limited partners in accordance with their respective partnership percentages, after giving effect to priority income allocations for incentive distributions, if any, to our general partner, pursuant to our partnership agreement. Earnings in excess of distributions are allocated to the general partner and limited partners based on their respective ownership interests. Payments made to our unitholders are determined in relation to actual distributions declared and are not based on the net income allocations used in the calculation of net income per unit. There were no anti-dilutive units outstanding for the three months ended March 31, 2022 and an immaterial amount for the three months ended March 31, 2021.
The net income attributable to common unitholders and the weighted average units for calculating basic and diluted net income per common units were as follows:
Three Months Ended March 31,
(In millions)20222021
Net income attributable to Sisecam Resources LP
$15.7 $2.4 
Less: General partner’s distribution declared0.2 — 
Less: Limited partners’ distribution declared9.9 — 
Income in excess of distribution$5.6 $2.4 

Three Months Ended March 31, 2022
(In millions, except per unit data)General PartnerLimited Partners’
common units		Total
Distribution declared$0.2 $9.9 $10.1 
Income in excess of distribution0.1 5.5 5.6 
Net income attributable to partners$0.3 $15.4 $15.7 
Weighted average limited partner units outstanding:
Basic19.8
Diluted19.8
Net income per limited partner unit:
Basic$0.78 
Diluted$0.78 

Three Months Ended March 31, 2021
(In millions, except per unit data)General PartnerLimited Partners’
common units		Total
Distribution declared$— $— $— 
Income in excess of distribution0.1 2.3 2.4 
Net income attributable to partners$0.1 $2.3 $2.4 
Weighted average limited partner units outstanding:
Basic19.7
Diluted19.8
Net income per limited partner unit:
Basic$0.12 
Diluted$0.12 
Quarterly Distribution
On April 29, 2022, the Partnership declared its first quarter 2022 quarterly distribution. The cash distribution for the first quarter of 2022 of $0.50 per unit will be paid on May 18, 2022 to unitholders of record on May 10, 2022.
Our general partner has considerable discretion in determining the amount of available cash, the amount of distributions and whether to make any distribution. Although our partnership agreement requires that we distribute all of our available cash quarterly, there is no guarantee that we will make quarterly cash distributions to our unitholders at our current quarterly distribution level or at any other rate, and we have no legal obligation to do so.
General Partner Interest and Incentive Distribution Rights
Our partnership agreement provides that our general partner initially will be entitled to 2.0% of all distributions that we make prior to our liquidation. Our general partner has the right, but not the obligation, to contribute up to a proportionate amount of capital to us in order to maintain its 2.0% general partner interest if we issue additional units. Our general partner’s approximate 2.0% interest, and the percentage of our cash distributions to which our general partner is entitled from such approximate 2.0% interest, will be proportionately reduced if we issue additional units in the future (other than the issuance of common units upon a reset of the IDRs), and our general partner does not contribute a proportionate amount of capital to us in order to maintain its approximate 2.0% general partner interest. Our partnership agreement does not require that our general partner fund its capital contribution with cash. It may, instead, fund its capital contribution by contributing to us common units or other property.
IDRs represent the right to receive increasing percentages (13.0%, 23.0% and 48.0%) of quarterly distributions from operating surplus after we have achieved certain distribution levels as set forth in our partnership agreement. Our general partner currently holds the
IDRs, but may transfer these rights separately from its general partner interest, subject to certain restrictions in our partnership agreement.
Percentage Allocations of Distributions from Operating Surplus
The following table illustrates the percentage allocations of distributions from operating surplus between the unitholders and our general partner based on the specified target distribution levels. The amounts set forth under the column heading “Marginal Percentage Interest in Distributions” are the percentage interests of our general partner and the unitholders in any distributions from operating surplus we distribute up to and including the corresponding amount in the column “Total Quarterly Distribution per Unit Target Amount.” Under our partnership agreement, our general partner has considerable discretion to determine the amount of available cash (as defined therein) for distribution each quarter to the Partnership’s unitholders, including discretion to establish cash reserves that would limit the amount of available cash eligible for distribution to the Partnership’s unitholders for any quarter. The Partnership does not guarantee that it will pay any distribution on its units in any quarter. The percentage interests set forth below for our general partner (1) include a 2.0% general partner interest, (2) assume that our general partner has contributed any additional capital necessary to maintain its 2.0% general partner interest, (3) assume that our general partner has not transferred its IDRs, and (4) assume that we do not issue additional classes of equity securities.
Marginal Percentage
Interest in
Distributions
Total Quarterly
Distribution per Unit
Target Amount		UnitholdersGeneral
Partner		Incentive
Distributions
Rights
$0.5000 or lower
98.0 %2.0 %— %
above $0.5000 up to $0.5750
98.0 %2.0 %— %
above $0.5750 up to $0.6250
85.0 %15.0 %13.0 %
above $0.6250 up to $0.7500
75.0 %25.0 %23.0 %
above $0.7500
50.0 %50.0 %48.0 %
v3.22.1
INVENTORY
 3 Months Ended
Mar. 31, 2022
Inventory Disclosure [Abstract]  
INVENTORY INVENTORY
Inventory consisted of the following:
As of
(In millions)March 31, 2022December 31, 2021
Raw materials$15.1 $10.5 
Finished goods13.6 9.3 
Stores inventory10.4 10.3 
Total$39.1 $30.1 
The higher inventory balance at March 31, 2022 is due to inflationary cost and higher production in the three months ended March 31, 2022 in anticipation of higher demand.
v3.22.1
DEBT
 3 Months Ended
Mar. 31, 2022
Debt Disclosure [Abstract]  
DEBT DEBT
Long-term debt, net of debt issuance costs, consisted of the following:
As of
(In millions)March 31, 2022December 31, 2021
Sisecam Wyoming Equipment Financing Arrangement Security Note Number 001 with maturity date of March 26, 2028, fixed interest rate of 2.479%$23.8 $24.6 
Sisecam Wyoming Equipment Financing Arrangement Security Note Number 002 with maturity date of December 17, 2026, fixed interest rate of 2.4207%27.6 29.0 
Sisecam Wyoming Credit Facility, secured principal expiring on October 28, 2026, variable interest rate as a weighted average rate of 2.05% and 1.82% at March 31, 2022 and December 31, 2021100.0 70.0 
Total debt151.4 123.6 
Current portion of long-term debt8.6 8.6 
Total long-term debt$142.8 $115.0 

Aggregate maturities required on long-term debt at March 31, 2022 are due in future years as follows:

(In millions)Amount
2022$6.5 
20238.8 
20249.1 
20259.3 
2026109.5 
Thereafter8.4 
Total$151.6 
    

Sisecam Wyoming Equipment Financing Arrangement
Master Loan and Security Agreement:
On March 26, 2020, Sisecam Wyoming and Banc of America Leasing & Capital, LLC, as lender (the “Equipment Financing Lender”), entered into an equipment financing arrangement (“Sisecam Wyoming Equipment Financing Arrangement”), including a Master Loan and Security Agreement, dated as of March 25, 2020 (as amended, the “Master Agreement”) and an Equipment Security Note Number 001, dated as of March 25, 2020 (the “Sisecam Wyoming Equipment Financing Arrangement Security Note Number 001,” or the “Initial Secured Note”), which provides the terms and conditions for the debt financing of certain equipment related to Sisecam Wyoming’s natural gas-fired turbine co-generation facility that became operational in March 2020.  Each equipment financing entered into under the Sisecam Wyoming Equipment Financing Arrangement will be evidenced by the execution of one or more equipment notes (including the Initial Secured Note) that incorporate the terms and conditions of the Master Agreement (each, an “Equipment Note”). In order to secure the payment and performance of Sisecam Wyoming’s obligations under the Sisecam Wyoming Equipment Financing Arrangement, Sisecam Wyoming granted to the Equipment Financing Lender a continuing security interest in all of Sisecam Wyoming’s right, title and interest in and to the Equipment (as defined in the Master Agreement) and certain related collateral.
On October 28, 2021, in connection with the entry into the Sisecam Wyoming Credit Facility (which replaced the Prior Sisecam Wyoming Credit Facility), Sisecam Wyoming and the Equipment Financing Lender entered into an amendment to the Master Agreement, in order to amend and restate all covenants that are based upon a specified level or ratio relating to assets, liabilities, indebtedness, rentals, net worth, cash flow, earnings, profitability, or any other accounting-based measurement or test to conform with the Sisecam Wyoming Credit Facility.
On December 17, 2021, Sisecam Wyoming and the Equipment Financing Lender entered into Amendment Number 001 to the Initial Secured Note (“First Amendment to the Initial Secured Note”). The First Amendment to the Initial Secured Note, provides among other things: (i) upon the occurrence of an early full payoff of the Second Secured Note (as defined below), Sisecam Wyoming shall simultaneously pay, in full, the outstanding amount of the Initial Secured Note and (ii) Sisecam Wyoming grants to Equipment Financing Lender a security interest in all collateral securing the Second Secured Note to secure Sisecam Wyoming’s obligations under the Initial Secured Note.
At March 31, 2022, Sisecam Wyoming was in compliance with all financial covenants of the Sisecam Wyoming Equipment Financing Arrangement.
The Sisecam Wyoming Equipment Financing Arrangement:
(1) incorporates all covenants in the Sisecam Wyoming Credit Facility (as defined below), now or hereinafter existing, or in any applicable replacement credit facility accepted in writing by the Equipment Financing Lender, that are based upon a specified level or ratio relating to assets, liabilities, indebtedness, rentals, net worth, cash flow, earnings, profitability, or any other accounting-based measurement or test, and (2) includes customary events of default subject to applicable grace periods, including, among others, (i) payment defaults, (ii ) certain mergers or changes in control of Sisecam Wyoming, (iii) cross defaults with certain other indebtedness (a) to which the Equipment Financing Lender is a party or (b) to third parties in excess of $10 million, and (iv) the commencement of certain insolvency proceedings or related events identified in the Master Agreement. Upon the occurrence of an event of default, in its discretion, the Equipment Financing Lender may exercise certain remedies, including, among others, the ability to accelerate the maturity of any Equipment Note such that all amounts thereunder will become immediately due and payable, to take possession of the Equipment identified in any Equipment Note, and to charge Sisecam Wyoming a default rate of interest on all then outstanding or thereafter incurred obligations under the Sisecam Wyoming Equipment Financing Arrangement:
Security Note Number 001:
•was executed on March 25, 2020;
•has a principal amount of $30,000,000;
•has a maturity date of March 26, 2028;
•shall be payable by Sisecam Wyoming to the Equipment Financing Lender in 96 consecutive monthly installments of principal and interest commencing on April 26, 2020 and continuing thereafter until the maturity date of the Initial Secured Note, which shall be in the amount of approximately $307,000 for the first 95 monthly installments and approximately $4,307,000 for the final monthly installment; and
•entitles Sisecam Wyoming to prepay all (but not less than all) of the outstanding principal balance of the Initial Secured Note (together with all accrued interest and other charges and amounts owed thereunder) at any time after one (1) year from the date of the Initial Secured Note, subject to Sisecam Wyoming paying to the Equipment Financing Lender an additional prepayment amount determined by the amount of principal balance prepaid and the date such prepayment is made.
In connection with the Second Sisecam Wyoming Amendment (as defined below), the Master Agreement was amended to incorporate, among other things, the modified covenants set forth in the Second Sisecam Wyoming Amendment related to consolidated leverage ratios of Sisecam Wyoming.
In December 2021, a waiver was obtained to accommodate the CoC Transaction.
First Amendment to Security Note Number 001:
On December 17, 2021, Sisecam Wyoming and the Equipment Financing Lender entered into Amendment Number 001 to the Initial Secured Note (“First Amendment to the Initial Secured Note”). The First Amendment to the Initial Secured Note, provides among other things: (i) upon the occurrence of an early full payoff of the Second Secured Note, Sisecam Wyoming shall simultaneously pay, in full the outstanding amount of the Initial Secured Note and (ii) Sisecam Wyoming grants to Equipment Financing Lender a security interest in all collateral securing the Second Secured Note to secure Sisecam Wyoming’s obligations under the Initial Secured Note.
Sisecam Wyoming’s balance under the Sisecam Wyoming Equipment Financing Arrangement at March 31, 2022 was $24.0 million ($23.8 million net of financing costs).
Security Note Number 002:
•was executed on December 17, 2021;
•has a principal amount of $29,000,000;
•has a maturity date of December 17, 2026;
•shall be payable by Sisecam Wyoming to the Equipment Financing Lender in 60 consecutive monthly installments of principal and interest commencing on January 17, 2022 and continuing thereafter until the maturity date of the Second Secured Note, which shall be in the amount of approximately $513,660 for each monthly installment;
•entitles Sisecam Wyoming to prepay all (but not less than all) of the outstanding principal balance of the Second Secured Note (together with all accrued interest and other charges and amounts owed thereunder) at any time after one (1) year from the date of the Second Secured Note, subject to Sisecam Wyoming paying to the Equipment Financing Lender an additional prepayment amount determined by the amount of principal balance prepaid and the date such prepayment is made and subject to Sisecam Wyoming simultaneously paying, in full, the outstanding amount of the Initial Secured Note as discussed above; and
•upon the occurrence of full payoff of Initial Secured Note dated as of March 25, 2020 under the Master Agreement, Sisecam Wyoming shall simultaneously pay, in full, the outstanding amount of this Second Secured Note.
Sisecam Wyoming Credit Facility
On October 28, 2021, Sisecam Wyoming entered into a new $225.0 million senior secured revolving credit facility (the “Sisecam Wyoming Credit Facility”) with each of the lenders listed on the respective signature pages thereof and Bank of America, N.A., as administrative agent, swing line lender and letter of credit issuer. The Sisecam Wyoming Credit Facility matures on October 28, 2026. On closing, the amount drawn under this new Sisecam Wyoming Credit Facility approximated the amount outstanding under the Prior Sisecam Wyoming Credit Facility at September 30, 2021.
The Sisecam Wyoming Credit Facility provides, among other things:
•a sublimit up to $40.0 million for the issuance of standby letters of credit and a sublimit up to $20.0 million for swingline loans;
•an accordion feature that enables Sisecam Wyoming to increase the revolving borrowings under the Sisecam Wyoming Credit Facility by up to an additional $250.0 million (subject to certain conditions);
•in addition to the aforementioned revolving borrowings, an ability to incur up to $225 million of additional term loan facility indebtedness to finance Sisecam Wyoming’s capacity expansion capital expenditures (subject to certain conditions);
•a pledge by Sisecam Wyoming of substantially all of Sisecam Wyoming’s assets (subject to certain exceptions), including: (i) all present and future shares of any subsidiaries of Sisecam Wyoming (whether now existing or hereafter created) and (ii) all personal property of Sisecam Wyoming (subject to certain conditions);
•contains various covenants and restrictive provisions that limit (subject to certain exceptions) Sisecam Wyoming’s ability to: (i) incur certain liens or permit them to exist; (ii) incur or guarantee additional indebtedness; (iii) make certain investments and acquisitions related to Sisecam Wyoming’s operations in Wyoming); (iv) merge or consolidate with another company; (v) transfer, sell or otherwise dispose of assets, (vi) make distributions; (vii) change the nature of Sisecam Wyoming’s business; and (viii) enter into certain transactions with affiliates;
•a requirement to maintain a quarterly consolidated leverage ratio of not more than 3.25:1:00; provided, however, subject to certain conditions, Sisecam Wyoming shall have the ability to increase the maximum consolidated leverage ratio to 3.75:1.00 for a year while Sisecam Wyoming is undertaking capacity expansion capital expenditures;
•a requirement to maintain a quarterly consolidated interest coverage ratio of not less than 3.00:1.00; and
•customary events of default including (i) failure to make payments required under the Sisecam Wyoming Credit Facility, (ii) events of default resulting from failure to comply with covenants and financial ratios, (iii) the occurrence of a voluntary change of control, as a result of which Sisecam Wyoming is directly or indirectly controlled by persons or entities not currently directly or indirectly controlling Sisecam Wyoming, (iv) the institution of insolvency or similar proceedings against Sisecam Wyoming, and (v) the occurrence of a cross default under any other material indebtedness Sisecam Wyoming may have. Upon the occurrence of an event of default, in their discretion, the Sisecam Wyoming Credit Facility lenders may exercise certain remedies, including, among others, accelerating the maturity of any outstanding loans, accrued and unpaid interest and all other amounts owing and payable such that all amounts thereunder will become immediately due and payable, and if not timely paid upon such acceleration, to charge Sisecam Wyoming a default rate of interest on all amounts outstanding under the Sisecam Wyoming Credit Facility. However, upon the occurrence of an involuntary change of control of Sisecam Wyoming, and after the passage of time as specified in the Sisecam Wyoming Credit Facility, Sisecam Wyoming’s debt thereunder would be accelerated.
In addition, loans under the Sisecam Wyoming Credit Facility (other than any swingline loans) will bear interest at Sisecam Wyoming’s option at either:
•a base rate, which equals the highest of (i) Bank of America’s prime rate, (ii) the federal funds rate then in effect on such day, plus 0.50%; (iii) one-month Bloomberg Short-Term Bank Yield Index (“BSBY”) adjusted daily rate, plus 1.0%; and (iv) 1.0%, plus, in each case, an applicable margin range from 0.50% to 1.75% based on the consolidated leverage ratio of Sisecam Wyoming; or
•a BSBY rate for interest periods of one, three or six months, plus, in each case, an applicable margin range from 1.50% to 2.75% based on the consolidated leverage ratio of Sisecam Wyoming.
In addition, if a BSBY rate ceases to exist for any period, loans under the Sisecam Wyoming Credit Facility will bear interest based on alternative indexes (including the secured overnight financing rate), plus an applicable margin.
The unused portion of the Sisecam Wyoming Credit Facility is subject to a per annum commitment fee and the applicable margin of the interest rate under the Sisecam Wyoming Credit Facility will be determined as follows:
Pricing TierLeverage RatioBSBY Rate LoansBase Rate LoansCommitment Fee
1< 1.25:1.01.500%0.500%0.225%
2≥ 1.25:1.0 but < 1.75:1.01.750%0.750%0.250%
3≥ 1.75:1.0 but < 2.25:1.02.000%1.000%0.275%
4≥ 2.25:1.0 but < 3.00:1.02.250%1.250%0.300%
5≥ 3.00:1.0 but < 3.50:1.02.500%1.500%0.325%
6≥ 3.50:1.02.750%1.750%0.350%

The Sisecam Wyoming Credit Facility permits the consolidated leverage ratio as of the end of each fiscal quarter of Sisecam Wyoming, commencing with the fiscal quarter ending December 31, 2021, to be greater than 3.25: 1.00; provided, however, during the Specified Capital Expansion Holiday, the lenders shall not permit the consolidated leverage ratio as of the end of each fiscal quarter of Sisecam Wyoming to be greater than 3.75:1.00. “Specified Capital Expansion Holiday” means the period consisting of four (4) full fiscal quarters after the Sisecam Wyoming has (i) made capital expenditures related to the Specified Capital Expansion (or other capital expansion project approved by the board of directors, board of managers or equivalent governing body of Sisecam Wyoming) of at least $200.0 million and (ii) provided written notice to the administrative agent that Sisecam Wyoming is electing to initiate such Specified Capital Expansion Holiday. “Specified Capital Expansion” means expansion activities related to the lenders’ soda ash operations in Wyoming which have been approved in writing by the Sisecam Wyoming’s board of directors, board of managers or equivalent governing body. The Sisecam Wyoming Credit Facility permits the consolidated interest coverage ratio as of the end of any fiscal quarter of Sisecam Wyoming, commencing with the fiscal quarter ending December 31, 2021, to be less than 3.00:1.00.
In connection with the CoC Transaction (as defined in Note 1 above), on December 17, 2021, Sisecam Wyoming entered into the First Amendment (“First Amendment”) to its $225.0 million senior secured revolving credit facility, dated as of October 28, 2021 (as amended, the “Sisecam Wyoming Credit Facility”), with each of the lenders listed on the respective signature pages thereof and Bank of America, N.A., as administrative agent, swing line lender and letter of credit issuer. Pursuant to the First Amendment, the definition of “Change of Control” under the Credit Facility was revised to reflect that the updated indirect ownership of Sisecam Resources LP and Sisecam GP as contemplated by the CoC Transaction will not cause a Change of Control under the Sisecam Wyoming Credit Facility so long as the CoC Transaction occurs prior to March 31, 2022. The CoC Transaction did not cause a change in control event under the Credit Facility.
Management is not aware of any current circumstances that would result in an event of default under the Sisecam Wyoming Credit Facility at March 31, 2022 or in the next twelve months.
Prior Sisecam Wyoming Credit Facility
On August 1, 2017, Sisecam Wyoming entered into a credit agreement (as amended, the “Prior Sisecam Wyoming Credit Facility” and together with the Sisecam Wyoming Equipment Financing Arrangement, the “Prior Sisecam Wyoming Debt Agreements”) with each of the lenders listed on the respective signature pages thereof and PNC Bank, National Association (“PNC Bank”), as administrative agent, swing line lender and a Letter of Credit (“L/C”) issuer. The Prior Sisecam Wyoming Credit Facility was a $225.0 million senior revolving credit facility with a syndicate of lenders, which matured on the fifth anniversary of the closing date of such credit facility. The Prior Sisecam Wyoming Credit Facility provided for revolving loans to fund working capital requirements, and capital expenditures, to consummate permitted acquisitions and for all other lawful partnership purposes.
On July 27, 2020, the Prior Sisecam Wyoming Credit Facility was further amended (the “July 2020 Sisecam Wyoming Amendment”) to increase Sisecam Wyoming’s financial and liquidity flexibility due to COVID-19. The July 2020 Sisecam Wyoming Amendment, among other things, (i) increased, for a limited period, certain restrictive debt covenants that require Sisecam Wyoming and its subsidiaries to maintain certain leverage ratios and interest coverage ratios at the end of each period, (ii) provided a tiered interest rate structure based on applicable covenant ratios and established a 0.5% interest floor, (iii) effectuated changes to collateral restricted disbursements and covenanted to give security if covenant ratios are equal to or above certain levels. The July 2020 Sisecam Wyoming Amendment also provided for covenants to restrict certain payments and to give security in certain personal property of Ciner Wyoming following a fiscal quarter in which the leverage ratio is equal to or higher than 3.50:1.0, so long as the applicable leverage ratio limit is otherwise adhered to. Any such security would be released upon achievement of a leverage ratio less than 2.00:1.0 at the end of any quarter. The July 2020 Sisecam Wyoming Amendment also required quarterly maintenance of a certain leverage ratio and an interest coverage ratio of not less than 3.00:1.0. On October 28, 2021, Sisecam Wyoming terminated the Prior Sisecam Wyoming Credit Facility and entered into the Sisecam Wyoming Credit Facility as described above.
Ciner Resources Credit Facility
On August 1, 2017, the Partnership entered into a Credit Agreement (as amended, the “Ciner Resources Credit Facility”) with each of the lenders listed on the respective signature pages thereof and PNC Bank, as administrative agent, swing line lender and an L/C issuer. The Ciner Resources Credit Facility was a $10.0 million senior secured revolving credit facility with a syndicate of lenders, that would have matured on the fifth anniversary of the closing date of such credit facility. The Ciner Resources Credit Facility provided for revolving loans to be available to fund distributions on the Partnership’s units and working capital requirements and capital expenditures, to consummate permitted acquisitions and for all other lawful partnership purposes. The Ciner Resources Credit Facility included a sublimit up to $5.0 million for same-day swing line advances and a sublimit up to $5.0 million for letters of credit. The Partnership’s obligations under the Ciner Resources Credit Facility were guaranteed by each of the Partnership’s material domestic subsidiaries other than Sisecam Wyoming. In addition, the Partnership’s obligations under the Ciner Resources Credit Facility were secured by a pledge of substantially all of the Partnership’s assets (subject to certain exceptions), including the membership interests held in Sisecam Wyoming by the Partnership.
On March 8, 2021, the Partnership terminated the Ciner Resources Credit Facility; the Partnership repaid in full its obligations thereunder.
WE Soda and Ciner Enterprises Facilities Agreement
On August 1, 2018, Ciner Enterprises, the entity that, prior to the CoC Transaction, indirectly owned and controlled the Partnership, refinanced its existing credit agreement and entered into a new facilities agreement, to which WE Soda and Ciner Enterprises (as borrowers), and KEW Soda, WE Soda, WE Soda Kimya Yatırımları Anonim Şirketi, Ciner Kimya Yatırımları Sanayi ve Ticaret Anonim Şirketi, Ciner Enterprises, SCW LLC, and Sisecam Chemicals (as original guarantors and together with the borrowers, the “Ciner Obligors”), were parties (as amended and restated or otherwise modified, the “Facilities Agreement”), and certain related finance documents.
On February 20, 2022, the Facilities Agreement was refinanced and Ciner Enterprises, SCW LLC, and Sisecam Chemicals were released from being Obligors of the Facilities Agreement and are not a party to the WE Soda refinanced agreement.
v3.22.1
OTHER NON-CURRENT LIABILITIES
 3 Months Ended
Mar. 31, 2022
Asset Retirement Obligation Disclosure [Abstract]  
OTHER NON-CURRENT LIABILITIES OTHER NON-CURRENT LIABILITIES
Other non-current liabilities consisted of the following:
As of
(In millions)March 31, 2022December 31, 2021
Reclamation reserve$8.1 $8.0 
Accrued other taxes3.7 — 
Other1.0 1.8 
Total$12.8 $9.8 
Accrued other taxes as of March 31, 2022 were higher compared to December 31, 2021 due to an increase in the payment period related to the production based tax.
A reconciliation of the Partnership’s reclamation reserve liability is as follows:
For the period ended
(In millions)March 31, 2022December 31, 2021
Beginning reclamation reserve balance$8.0 $7.3 
Accretion expense0.1 0.4 
Reclamation adjustments (1)
— 0.3 
Ending reclamation reserve balance$8.1 $8.0 
(1) The reclamation costs are periodically evaluated for adjustments by the Wyoming Department of Environmental Quality. See Note 9 “Commitments and Contingencies, “Mine Permit Bonding Commitment” for additional information on our reclamation reserve, including changes to the underlying reclamation obligation that resulted in the asset retirement obligation reclamation adjustment.
v3.22.1
EMPLOYEE COMPENSATION
 3 Months Ended
Mar. 31, 2022
Retirement Benefits [Abstract]  
EMPLOYEE COMPENSATION EMPLOYEE COMPENSATION
The Partnership participates in various benefit plans offered and administered by Sisecam Chemicals and is allocated its portions of the annual costs related thereto. The specific plans are as follows:
Retirement Plans - Benefits provided under the retirement plans for salaried employees and hourly employees (the “Retirement Plans”) are based upon years of service and average compensation for the highest 60 consecutive months of the employee’s last 120 months of service, as defined. The Retirement Plans cover substantially all full-time employees hired before May 1, 2001. Sisecam Chemicals’ Retirement Plans had a net liability balance of $31.9 million and $32.8 million as of March 31, 2022 and December 31, 2021, respectively. Sisecam Chemicals’ current funding policy is to contribute an amount within the range of the minimum required and the maximum tax-deductible contribution. The Partnership’s allocated portions of the Retirement Plans’ net periodic pension benefit were $0.9 million and $0.8 million for the three months ended March 31, 2022 and 2021, respectively. The increase in the amount of benefit recognized during the three months ended March 31, 2022 was driven by asset changes from the prior period.
Savings Plan - The 401(k) retirement plan (the “401(k) Plan”) covers all eligible hourly and salaried employees. Eligibility is limited to all domestic residents and any foreign expatriates who are in the United States indefinitely. The 401(k) Plan permits employees to contribute specified percentages of their compensation, while the Partnership makes contributions based upon specified percentages of employee contributions. Participants hired on or subsequent to May 1, 2001, will receive an additional contribution from the Partnership based on a percentage of the participant’s base pay. Contributions made to the 401(k) Plan were $1.7 million for each of the three months ended March 31, 2022 and 2021.
Postretirement Benefits - Most of the Partnership’s employees hired before January 2, 2017 are eligible for postretirement benefits other than pensions if they reach age 58 while still employed with at least 10 years of service.
The postretirement benefits are accounted for by Sisecam Chemicals on an accrual basis over an employee’s period of service. The postretirement plan, excluding pensions, are not funded, and Sisecam Chemicals has the right to modify or terminate the plan. The Sisecam Chemicals post-retirement plan had a net unfunded liability of $10.6 million and $10.7 million as of March 31, 2022 and December 31, 2021, respectively.
The Partnership’s allocated portions of postretirement costs were $0.2 million for each of the three months ended March 31, 2022 and 2021
v3.22.1
EQUITY - BASED COMPENSATION
 3 Months Ended
Mar. 31, 2022
Share-based Payment Arrangement [Abstract]  
EQUITY - BASED COMPENSATION EQUITY - BASED COMPENSATION
In July 2013, our general partner established the Sisecam Resource Partners LLC 2013 Long-Term Incentive Plan (as amended to date, the “Plan” or “LTIP”). Historically, the Plan was intended to provide incentives that will attract and retain valued employees, officers, consultants and non-employee directors by offering them a greater stake in our success and a closer identity with us, and to encourage ownership of our common units by such individuals. The Plan provides for awards in the form of common units, phantom units, distribution equivalent rights (“DERs”), cash awards and other unit-based awards.
All employees, officers, consultants and non-employee directors of us and our parents and subsidiaries are eligible to be selected to participate in the Plan; provided, that as previously disclosed in 2020, the MLP Board approved an updated compensation policy for the general partner’s executive officers and other employees whereby the Partnership provides additional cash consideration as compensation to such executive officers and other employees of the general partner or its affiliates that provide services to the Partnership in lieu of participation in the Plan. As of March 31, 2022, a total of 0.6 million common units were available for awards under the Plan. Any common units tendered by a participant in payment of the tax liability with respect to an award, including common units withheld from any such award, will not be available for future awards under the Plan. Common units awarded under the Plan may be reserved or made available from our authorized and unissued common units or from common units reacquired (through open market transactions or otherwise). Any common units issued under the Plan through the assumption or substitution of outstanding grants from an acquired company will not reduce the number of common units available for awards under the Plan. If any
common units subject to an award under the Plan are forfeited, any common units counted against the number of common units available for issuance pursuant to the Plan with respect to such award will again be available for awards under the Plan. The Partnership has made a policy election to recognize forfeitures as they occur in lieu of estimating future forfeiture activity under the Plan.
Non-employee Director Awards
There were no grants of non-employee director awards during the three months ended March 31, 2022, and 2021.
Time Restricted Unit Awards
We may grant restricted unit awards in the form of common units to certain employees that vest over a specified period of time, usually between one to three years, with vesting based on continued employment as of each applicable vesting date. Award recipients are entitled to distributions subject to the same restrictions as the underlying common unit. The awards are classified as equity awards and are accounted for at fair value at grant date.
As of December 31, 2021 and March 31, 2022, there are no unvested time restricted unit awards and no unrecognized related compensation expense.
The following table presents a summary of activity on the Time Restricted Unit Awards for the three months ended March 31, 2022 and 2021:
Three Months Ended March 31, 2022Three Months Ended March 31, 2021
(Units in whole numbers)Number of Common Units
Grant-Date Average Fair Value per Unit (1)
Number of Common Units
Grant-Date Average Fair Value per Unit (1)
Unvested at the beginning of period— $— 21,937 $17.57 
Vested— — (12,249)18.46 
Unvested at the end of the period— $— 9,688 $16.45 
(1) Determined by dividing the aggregate grant date fair value of awards by the number of common units.
Total Return Performance Unit Awards
Historically, we have granted TR Performance Unit Awards to certain employees. The TR Performance Unit Awards represent the right to receive a number of common units at a future date based on the achievement of market-based performance requirements in accordance with the TR Unit Performance Award agreement, and also include Distribution Equivalent Rights (“DERs”). DERs are the right to receive an amount equal to the accumulated cash distributions made during the period with respect to each common unit issued upon vesting. The TR Performance Unit Awards vest at the end of the performance period, usually between two to three years from the date of the grant. Performance is measured on the achievement of a specified level of total return, or TR, relative to the TR of a peer group comprised of other limited partnerships. The potential payout ranges from 0-200% of the grant target quantity and is adjusted based on our total return performance relative to the peer group. For purposes of the table below the number of units are included at target quantity.
We utilized a Monte Carlo simulation model to estimate the grant date fair value of TR Performance Unit Awards granted to employees, adjusted for market conditions. This type of award requires the input of highly subjective assumptions, including expected volatility and expected distribution yield. Historical and implied volatilities were used in estimating the fair value of these awards.
The following table presents a summary of activity on the TR Performance Unit Awards for the three months ended March 31, 2022 and 2021:
Three Months Ended March 31, 2022Three Months Ended March 31, 2021
(Units in whole numbers)Number of Common Units
Grant-Date Average Fair Value per Unit(1)
Number of Common Units
Grant-Date Average Fair Value per Unit (1)
Unvested at the beginning of period— $— 7,678 $41.53 
Vested— — (7,678)41.53 
Unvested at the end of the period— $— — $— 
(1) Determined by dividing the aggregate grant date fair value of awards by the number of common units.
2019 Performance Unit Awards
On September 23, 2019, the board of directors of our general partner approved a new form of performance unit award to be granted based upon the achievement of certain financial, operating and safety-related performance metrics (“2019 Performance Unit Awards”) pursuant to our LTIP, and the vesting of the 2019 Performance Unit Awards is linked to a weighted average consisting of internal performance metrics defined in the 2019 Performance Unit Award agreement (the “Performance Metrics”) during a three-year performance period (the “Measurement Period”). The vesting of the 2019 Performance Unit Awards, and number of common units of the Partnership distributable pursuant to such vesting, is dependent on our performance relative to a pre-established budget over the Measurement Period; provided, that the awardee remains continuously employed with our general partner or its affiliates or satisfies other service-related criteria through the end of the Measurement Period, except in certain cases of Changes in Control (as defined in our LTIP) or the awardee’s death or disability.
Vested 2019 Performance Unit Awards will be settled in our common units, with the number of such common units payable under the award to be calculated by multiplying the target number provided in the corresponding 2019 Performance Unit Award agreement by a payout multiplier, which may range from 0%-200% in each case, as determined by aggregating the corresponding weighted average assigned to the Performance Metrics. The 2019 Performance Unit Awards also contain DERs and grant the recipient the right to receive an amount equal to the accumulated cash distributions made during the period with respect to each common unit issued. Upon vesting of the 2019 Performance Unit Awards, the award recipient is entitled to receive a cash payment equal to the sum of the distribution equivalents accumulated with respect to vested 2019 Performance Unit Awards during the period beginning on January 1, 2019 and ending on the applicable vesting date. The 2019 Performance Unit Awards granted to award recipients during 2019 have a performance cycle that began on January 1, 2019 and ended on December 31, 2021.
The following table presents a summary of activity on the 2019 Performance Unit Awards for the three months ended March 31, 2022 and 2021:
Three Months Ended March 31, 2022Three Months Ended March 31, 2021
(Units in whole numbers)Number of Common Units
Grant-Date Average Fair Value per Unit(1)
Number of Common Units
Grant-Date Average Fair Value per Unit(1)
Unvested at the beginning of period25,062 $16.45 29,057 $16.45 
Vested (2)
(21,171)16.45 — — 
Performance adjustments (2)
(3,891)16.45 — — 
Unvested at the end of the period— $— 29,057 $16.45 
(1) Determined by dividing the weighted average price per common unit on the date of grant.
(2) The actual number of shares awarded based on achievement of the Performance Metrics was approximately 84% of the grant target quantity, as approved by the Partnership’s Board of Directors in the three months ended March 31, 2022, and was adjusted accordingly.
v3.22.1
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
 3 Months Ended
Mar. 31, 2022
Equity [Abstract]  
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
Accumulated Other Comprehensive Income (Loss)
Accumulated other comprehensive income, attributable to Sisecam Resources LP, includes unrealized gains and losses on derivative financial instruments. Amounts recorded in accumulated other comprehensive income as of March 31, 2022 and December 31, 2021, and changes within the period, consisted of the following:
(In millions)Gains and (Losses) on Cash Flow Hedges
Balance at December 31, 20213.0 
Other comprehensive income before reclassification4.5 
Amounts reclassified from accumulated other comprehensive loss(1.8)
Net current period other comprehensive income2.7 
Balance at March 31, 2022$5.7 
Other Comprehensive Income (Loss)
Other comprehensive income/(loss), including the portion attributable to noncontrolling interest, is derived from adjustments to reflect the unrealized gain/(loss) on derivative financial instruments and the impact of discontinuation of any hedge accounting. The components of other comprehensive income (loss) consisted of the following:
Three Months Ended March 31,
(In millions)20222021
Unrealized gain/(loss) on derivatives:
Mark to market and other adjustment on interest rate swap contracts$0.8 $0.3 
Mark to market adjustment on natural gas forward contracts4.4 1.2 
Gain on derivative financial instruments$5.2 $1.5 

Reclassifications for the Period
The components of other comprehensive (loss) income, attributable to Sisecam Resources LP, that have been reclassified consisted of the following:
Three Months Ended March 31,Affected Line Items on the Unaudited Condensed Consolidated Statements of Operations and Comprehensive (Loss) income
(In millions)20222021
Details about other comprehensive (loss) income components:
Gains and losses on cash flow hedges:
Interest rate swap contracts$0.1 $0.1 Interest expense
Natural gas forward contracts(1.9)(0.2)Cost of products sold
Total reclassifications for the period$(1.8)$(0.1)
v3.22.1
COMMITMENTS AND CONTINGENCIES
 3 Months Ended
Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS AND CONTINGENCIES COMMITMENTS AND CONTINGENCIES
From time to time we are party to various claims and legal proceedings related to our business. Although the outcome of these proceedings cannot be predicted with certainty, management does not currently expect any of the legal proceedings we are involved in to have a material effect on our business, financial condition and results of operations. We cannot predict the nature of any future claims or proceedings, nor the ultimate size or outcome of such proceedings and whether any damages resulting from them will be covered by insurance.
In the three months ended March 31, 2022, the Partnership extended its gas transportation contract through 2031 with annual minimum requirements ranging from $1.5 million to $2.8 million over the life of the contract.
Mine Permit Bonding Commitment
Our operations are subject to oversight by the Land Quality Division of Wyoming Department of Environmental Quality (“WDEQ”). Our principal mine permit issued by the Land Quality Division, requires the Partnership to provide financial assurances for our reclamation obligations for the estimated future cost to reclaim the area of our processing facility, surface pond complex and on-site sanitary landfill. The Partnership provides such assurances through a third-party surety bond (the “Surety Bond”). According to the annual recalculation and submittal, the Surety Bond amount was $41.8 million at March 31, 2022 and December 31, 2021. The amount of such assurances that we are required to provide is subject to change upon annual recalculation according to Department of Environmental Quality’s Guideline 12, annual site inspection and subsequent evaluation/approval by the WDEQ’s Land Quality Division.
v3.22.1
AGREEMENTS AND TRANSACTIONS WITH AFFILIATES
 3 Months Ended
Mar. 31, 2022
Related Party Transactions [Abstract]  
AGREEMENTS AND TRANSACTIONS WITH AFFILIATES AGREEMENTS AND TRANSACTIONS WITH AFFILIATES
Agreements and transactions with affiliates have a significant impact on the Partnership’s financial statements because the Partnership is a subsidiary and investee within two different global group structures. Agreements directly between the Partnership and other affiliates, or indirectly between affiliates that the Partnership does not control, can have a significant impact on recorded amounts or disclosures in the Partnership's financial statements, including any commitments and contingencies between the Partnership and affiliates, or potentially, third parties.
Sisecam Chemicals was the exclusive sales agent for the Partnership and has responsibility for promoting and increasing the use and sale of soda ash and other refined or processed sodium products produced. As previously disclosed, Sisecam Chemicals, an affiliate of the Partnership, terminated its membership in ANSAC effective December 31, 2020. As of January 1, 2021, Sisecam Chemicals began managing the Partnership’s export sales and marketing efforts. In 2021, Sisecam Chemicals leveraged the distributor network established by the Ciner Group and continues to evaluate the distribution network and independent third-party distribution partners to optimize our reach into each market. For the three months ended March 31, 2022 and 2021, the total logistic services, which are included in cost of products sold, from affiliates were approximately $2.4 million and $0.2 million, respectively.
Selling, general and administrative expenses also include amounts charged to the Partnership by its affiliates principally consisting of salaries, benefits, office supplies, professional fees, travel, rent and other costs of certain assets used by the Partnership. On October 23, 2015, the Partnership entered into a Services Agreement (the “Services Agreement”) with our general partner and Sisecam Chemicals. Pursuant to the Services Agreement, Sisecam Chemicals has agreed to provide the Partnership with certain corporate, selling, marketing, and general and administrative services, in return for which the Partnership has agreed to pay Sisecam Chemicals an annual management fee and reimburse Sisecam Chemicals for certain third-party costs incurred in connection with providing such services. In addition, under the limited liability company agreement governing Sisecam Wyoming, Sisecam Wyoming reimburses us for employees who operate our assets and for support provided to Sisecam Wyoming. These transactions do not necessarily represent arm's length transactions and may not represent all costs if Sisecam Wyoming operated on a standalone basis.

The total selling, general and administrative costs charged to the Partnership by affiliates were as follows:
Three Months Ended March 31,
(In millions)20222021
Sisecam Chemicals
$5.4 $3.6 
Total selling, general and administrative expenses - affiliates$5.4 $3.6 
The Partnership had accounts receivable from affiliates and due to affiliates as follows:
As of
March 31, 2022December 31, 2021March 31, 2022December 31, 2021
(In millions)Accounts receivable from affiliatesDue to affiliates
Sisecam Chemicals
$50.6 49.3 $2.8 2.2 
Other— — 1.1 0.1 
Total$50.6 $49.3 $3.9 $2.3 

The amounts due from Sisecam Chemicals are primarily related to the funding, that the Partnership provides for pension and postretirement plans as contributions on behalf of Sisecam Chemicals, in excess of the amounts that have been allocated to the Partnership related to its participation in the plans.
v3.22.1
REVENUE
 3 Months Ended
Mar. 31, 2022
Segment Reporting [Abstract]  
REVENUE REVENUE
We have three major international customers which individually account for over 10% of total net sales for the three months ended March 31, 2022. We had two major international customers for the three months ended March 31, 2021. Revenues from these international customers were approximately $64.2 million and $43.4 million for the three months ended March 31, 2022 and 2021, respectively. The net sales by geographic area are as follows:
 Three Months Ended March 31,
(In millions)20222021
Domestic$69.5 $66.3 
International93.9 61.5 
Total net sales$163.4 $127.8 
v3.22.1
FAIR VALUE MEASUREMENTS
 3 Months Ended
Mar. 31, 2022
Fair Value Disclosures [Abstract]  
FAIR VALUE MEASUREMENTS FAIR VALUE MEASUREMENTS
Financial instruments consist primarily of cash and cash equivalents, accounts receivable, accounts payable, accrued expenses, derivative financial instruments and long-term debt. The carrying amounts of cash and cash equivalents, accounts receivable, accounts payable and accrued expenses approximate their fair values because of the nature of such instruments. Our long-term debt and derivative financial instruments are measured at their fair value based on quoted market values for similar but not identical financial instruments.
Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis
Derivative Financial Instruments
We have interest rate swap contracts to mitigate our exposure to possible increases in interest rates. The swap contracts had an aggregate notional value of $37.5 million at March 31, 2022 and December 31, 2021. The swaps have various maturities through 2024.
We enter into natural gas forward contracts, designated as cash flow hedges, to mitigate volatility in the price of natural gas related to a portion of the natural gas we consume. These contracts generally have various maturities through 2024. These contracts had an aggregate notional value of $16.4 million and $24.1 million at March 31, 2022 and December 31, 2021, respectively.
The following table presents the fair value of derivative assets and derivative liabilities and the respective locations as of March 31, 2022 and December 31, 2021:
 AssetsLiabilities
March 31,
2022		December 31,
2021		March 31,
2022		December 31,
2021
(In millions)Balance Sheet LocationFair ValueFair ValueBalance Sheet LocationFair ValueFair Value
Derivatives designated as hedges:
Interest rate swap contracts - current$— $— Accrued Expenses$0.1 $0.2 
Natural gas forward contracts - currentOther current assets8.2 5.9 Accrued Expenses— 0.6 
Interest rate swap contracts - non-currentOther non-current assets0.6 0.1 Other non-current liabilities— 0.2 
Natural gas forward contracts - non-currentOther non-current assets3.4 2.5 Other non-current liabilities0.8 1.4 
Total fair value of derivatives designated as hedging instruments$12.2 $8.5 $0.9 $2.4 
Financial Assets and Liabilities Not Measured at Fair Value
The carrying value of our long-term debt materially reflects the fair value of our long-term debt as its key terms are similar to indebtedness with similar amounts, durations and credit risks. See Note 4 “Debt” for additional information on our debt arrangements.
v3.22.1
SUBSEQUENT EVENTS
 3 Months Ended
Mar. 31, 2022
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS SUBSEQUENT EVENTS
Q1 2022 Distribution
Effective as of April 28, 2022, the members of the Board of Managers of Sisecam Wyoming, approved a cash distribution to the members of Sisecam Wyoming in the aggregate amount of $21.4 million. This distribution is payable on May 16, 2022.
On April 29, 2022, the Partnership declared a cash distribution approved by the board of directors of our general partner. The cash distribution for the first quarter of 2022 of $0.50 per unit will be paid on May 18, 2022 to unitholders of record on May 10, 2022.
v3.22.1
CORPORATE STRUCTURE AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)
 3 Months Ended
Mar. 31, 2022
Accounting Policies [Abstract]  
Nature of Operations
Nature of Operations
As used in this Report, the terms “Sisecam Resources LP,” “the Partnership,” “SIRE,” “we,” “us,” or “our” may refer to Sisecam Resources LP, a publicly traded Delaware limited partnership formed in April 2013 by both Sisecam Chemicals Wyoming LLC (“SCW LLC”), a wholly-owned subsidiary of Sisecam Chemicals Resources LLC (“Sisecam Chemicals”) and Sisecam Resource Partners LLC (our “general partner” or “Sisecam GP”), a wholly-owned subsidiary of SCW LLC. Sisecam Chemicals is 60% owned by Sisecam Chemicals USA Inc. (“Sisecam USA”) and 40% owned by Ciner Enterprises Inc. (“Ciner Enterprises”). Sisecam USA is a direct subsidiary of Türkiye Sise ve Cam Fabrikalari A.S (“Şişecam Parent”) which is an approximately 51%-owned subsidiary of Turkiye Is Bankasi Turkiye Is Bankasi ("Isbank").
Şişecam Parent is a global company operating in soda ash, chromium chemicals, flat glass, auto glass, glassware glass packaging and glass fiber sectors and is based in Turkey and is listed on the Istanbul exchange. Ciner Enterprises is a direct wholly-owned subsidiary of WE Soda Ltd., a U.K. Corporation (“WE Soda”). WE Soda is a direct wholly-owned subsidiary of KEW Soda Ltd., a U.K. corporation (“KEW Soda”), which is a direct wholly-owned subsidiary of Akkan Enerji ve Madencilik Anonim Şirketi (“Akkan”). Akkan is directly and wholly owned by Turgay Ciner, the Chairman of the Ciner Group (“Ciner Group”), a Turkish conglomerate of companies engaged in energy and mining (including soda ash mining), media and shipping markets.
Sisecam Wyoming LLC (“Sisecam Wyoming”) is in the business of mining trona ore to produce soda ash, and is a 51.0% majority-owned subsidiary of the Partnership. The Partnership’s operations consist solely of its investment in Sisecam Wyoming. NRP Trona LLC, a wholly owned subsidiary of Natural Resource Partners L.P. (“NRP”), currently owns a 49.0% membership interest in Sisecam Wyoming. NRP’s membership interest in Sisecam Wyoming is reflected as the noncontrolling interest in the Partnership’s financial results.
All of our soda ash processed is currently sold to various domestic and international customers. Sisecam Chemicals is the exclusive sales agent for the Partnership. Sisecam Chemicals has leveraged the distributor network established by Ciner Group while independently reviewing current and potential distribution partners to optimize the Partnership’s reach into each market.
Basis of Presentation and Significant Accounting Policies
Basis of Presentation and Significant Accounting Policies
The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“GAAP”) applicable to interim period financial statements and reflect all adjustments, consisting of normal recurring accruals, which are necessary for fair presentation of the results of operations, financial position and cash flows for the periods presented. All intercompany transactions, balances, revenue and expenses have been eliminated in consolidation. The results of operations for the three month periods ended March 31, 2022 and 2021 are not necessarily indicative of the operating results for the full year.
These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes to audited consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2021 (the “2021 Annual Report”) filed with the United States Securities and Exchange Commission (“SEC”) on March 15, 2022. There have been no material changes in the significant accounting policies followed by us during the three months ended March 31, 2022 from those disclosed in the 2021 Annual Report.
Segment Reporting Segment ReportingAs the Partnership earns substantially all of its revenues through the sale of soda ash mined at a single location, we have concluded that we have one operating segment for reporting purposes.
Use of Estimates
Use of Estimates
The preparation of these unaudited condensed consolidated financial statements, in accordance with GAAP, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities at the dates of the unaudited condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
v3.22.1
NET INCOME PER UNIT AND CASH DISTRIBUTION (Tables)
 3 Months Ended
Mar. 31, 2022
Earnings Per Share [Abstract]  
Calculation of Net Income Per Unit The net income attributable to common unitholders and the weighted average units for calculating basic and diluted net income per common units were as follows:
Three Months Ended March 31,
(In millions)20222021
Net income attributable to Sisecam Resources LP
$15.7 $2.4 
Less: General partner’s distribution declared0.2 — 
Less: Limited partners’ distribution declared9.9 — 
Income in excess of distribution$5.6 $2.4 

Three Months Ended March 31, 2022
(In millions, except per unit data)General PartnerLimited Partners’
common units		Total
Distribution declared$0.2 $9.9 $10.1 
Income in excess of distribution0.1 5.5 5.6 
Net income attributable to partners$0.3 $15.4 $15.7 
Weighted average limited partner units outstanding:
Basic19.8
Diluted19.8
Net income per limited partner unit:
Basic$0.78 
Diluted$0.78 

Three Months Ended March 31, 2021
(In millions, except per unit data)General PartnerLimited Partners’
common units		Total
Distribution declared$— $— $— 
Income in excess of distribution0.1 2.3 2.4 
Net income attributable to partners$0.1 $2.3 $2.4 
Weighted average limited partner units outstanding:
Basic19.7
Diluted19.8
Net income per limited partner unit:
Basic$0.12 
Diluted$0.12 
Percentage Allocations of Distributions From Operating Surplus
The following table illustrates the percentage allocations of distributions from operating surplus between the unitholders and our general partner based on the specified target distribution levels. The amounts set forth under the column heading “Marginal Percentage Interest in Distributions” are the percentage interests of our general partner and the unitholders in any distributions from operating surplus we distribute up to and including the corresponding amount in the column “Total Quarterly Distribution per Unit Target Amount.” Under our partnership agreement, our general partner has considerable discretion to determine the amount of available cash (as defined therein) for distribution each quarter to the Partnership’s unitholders, including discretion to establish cash reserves that would limit the amount of available cash eligible for distribution to the Partnership’s unitholders for any quarter. The Partnership does not guarantee that it will pay any distribution on its units in any quarter. The percentage interests set forth below for our general partner (1) include a 2.0% general partner interest, (2) assume that our general partner has contributed any additional capital necessary to maintain its 2.0% general partner interest, (3) assume that our general partner has not transferred its IDRs, and (4) assume that we do not issue additional classes of equity securities.
Marginal Percentage
Interest in
Distributions
Total Quarterly
Distribution per Unit
Target Amount		UnitholdersGeneral
Partner		Incentive
Distributions
Rights
$0.5000 or lower
98.0 %2.0 %— %
above $0.5000 up to $0.5750
98.0 %2.0 %— %
above $0.5750 up to $0.6250
85.0 %15.0 %13.0 %
above $0.6250 up to $0.7500
75.0 %25.0 %23.0 %
above $0.7500
50.0 %50.0 %48.0 %
v3.22.1
INVENTORY (Tables)
 3 Months Ended
Mar. 31, 2022
Inventory Disclosure [Abstract]  
Schedule of Inventory
Inventory consisted of the following:
As of
(In millions)March 31, 2022December 31, 2021
Raw materials$15.1 $10.5 
Finished goods13.6 9.3 
Stores inventory10.4 10.3 
Total$39.1 $30.1 
v3.22.1
DEBT (Tables)
 3 Months Ended
Mar. 31, 2022
Debt Disclosure [Abstract]  
Components of Long-term Debt
Long-term debt, net of debt issuance costs, consisted of the following:
As of
(In millions)March 31, 2022December 31, 2021
Sisecam Wyoming Equipment Financing Arrangement Security Note Number 001 with maturity date of March 26, 2028, fixed interest rate of 2.479%$23.8 $24.6 
Sisecam Wyoming Equipment Financing Arrangement Security Note Number 002 with maturity date of December 17, 2026, fixed interest rate of 2.4207%27.6 29.0 
Sisecam Wyoming Credit Facility, secured principal expiring on October 28, 2026, variable interest rate as a weighted average rate of 2.05% and 1.82% at March 31, 2022 and December 31, 2021100.0 70.0 
Total debt151.4 123.6 
Current portion of long-term debt8.6 8.6 
Total long-term debt$142.8 $115.0 
Aggregate Maturities on Long-term Debt Aggregate maturities required on long-term debt at March 31, 2022 are due in future years as follows:
(In millions)Amount
2022$6.5 
20238.8 
20249.1 
20259.3 
2026109.5 
Thereafter8.4 
Total$151.6 
Schedule of Debt Covenants The unused portion of the Sisecam Wyoming Credit Facility is subject to a per annum commitment fee and the applicable margin of the interest rate under the Sisecam Wyoming Credit Facility will be determined as follows:
Pricing TierLeverage RatioBSBY Rate LoansBase Rate LoansCommitment Fee
1< 1.25:1.01.500%0.500%0.225%
2≥ 1.25:1.0 but < 1.75:1.01.750%0.750%0.250%
3≥ 1.75:1.0 but < 2.25:1.02.000%1.000%0.275%
4≥ 2.25:1.0 but < 3.00:1.02.250%1.250%0.300%
5≥ 3.00:1.0 but < 3.50:1.02.500%1.500%0.325%
6≥ 3.50:1.02.750%1.750%0.350%
v3.22.1
OTHER NON-CURRENT LIABILITIES (Tables)
 3 Months Ended
Mar. 31, 2022
Asset Retirement Obligation Disclosure [Abstract]  
Schedule of Other Non-current Liabilities
Other non-current liabilities consisted of the following:
As of
(In millions)March 31, 2022December 31, 2021
Reclamation reserve$8.1 $8.0 
Accrued other taxes3.7 — 
Other1.0 1.8 
Total$12.8 $9.8 
Reconciliation of Partnership's Reclamation Reserve Liability A reconciliation of the Partnership’s reclamation reserve liability is as follows:
For the period ended
(In millions)March 31, 2022December 31, 2021
Beginning reclamation reserve balance$8.0 $7.3 
Accretion expense0.1 0.4 
Reclamation adjustments (1)
— 0.3 
Ending reclamation reserve balance$8.1 $8.0 
(1) The reclamation costs are periodically evaluated for adjustments by the Wyoming Department of Environmental Quality. See Note 9 “Commitments and Contingencies, “Mine Permit Bonding Commitment” for additional information on our reclamation reserve, including changes to the underlying reclamation obligation that resulted in the asset retirement obligation reclamation adjustment.
v3.22.1
EQUITY - BASED COMPENSATION (Tables)
 3 Months Ended
Mar. 31, 2022
Share-based Payment Arrangement [Abstract]  
Schedule of Time Restricted Unit Award Activity
The following table presents a summary of activity on the Time Restricted Unit Awards for the three months ended March 31, 2022 and 2021:
Three Months Ended March 31, 2022Three Months Ended March 31, 2021
(Units in whole numbers)Number of Common Units
Grant-Date Average Fair Value per Unit (1)
Number of Common Units
Grant-Date Average Fair Value per Unit (1)
Unvested at the beginning of period— $— 21,937 $17.57 
Vested— — (12,249)18.46 
Unvested at the end of the period— $— 9,688 $16.45 
(1) Determined by dividing the aggregate grant date fair value of awards by the number of common units.
Schedule of Time Restricted Performance Unit Award Activity
The following table presents a summary of activity on the TR Performance Unit Awards for the three months ended March 31, 2022 and 2021:
Three Months Ended March 31, 2022Three Months Ended March 31, 2021
(Units in whole numbers)Number of Common Units
Grant-Date Average Fair Value per Unit(1)
Number of Common Units
Grant-Date Average Fair Value per Unit (1)
Unvested at the beginning of period— $— 7,678 $41.53 
Vested— — (7,678)41.53 
Unvested at the end of the period— $— — $— 
(1) Determined by dividing the aggregate grant date fair value of awards by the number of common units.
Schedule of Performance Unit Awards
The following table presents a summary of activity on the 2019 Performance Unit Awards for the three months ended March 31, 2022 and 2021:
Three Months Ended March 31, 2022Three Months Ended March 31, 2021
(Units in whole numbers)Number of Common Units
Grant-Date Average Fair Value per Unit(1)
Number of Common Units
Grant-Date Average Fair Value per Unit(1)
Unvested at the beginning of period25,062 $16.45 29,057 $16.45 
Vested (2)
(21,171)16.45 — — 
Performance adjustments (2)
(3,891)16.45 — — 
Unvested at the end of the period— $— 29,057 $16.45 
(1) Determined by dividing the weighted average price per common unit on the date of grant.
(2) The actual number of shares awarded based on achievement of the Performance Metrics was approximately 84% of the grant target quantity, as approved by the Partnership’s Board of Directors in the three months ended March 31, 2022, and was adjusted accordingly.
v3.22.1
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)
 3 Months Ended
Mar. 31, 2022
Equity [Abstract]  
Schedule of Accumulated Other Comprehensive Loss Amounts recorded in accumulated other comprehensive income as of March 31, 2022 and December 31, 2021, and changes within the period, consisted of the following:
(In millions)Gains and (Losses) on Cash Flow Hedges
Balance at December 31, 20213.0 
Other comprehensive income before reclassification4.5 
Amounts reclassified from accumulated other comprehensive loss(1.8)
Net current period other comprehensive income2.7 
Balance at March 31, 2022$5.7 
Components of Other Comprehensive Income/(Loss) The components of other comprehensive income (loss) consisted of the following:
Three Months Ended March 31,
(In millions)20222021
Unrealized gain/(loss) on derivatives:
Mark to market and other adjustment on interest rate swap contracts$0.8 $0.3 
Mark to market adjustment on natural gas forward contracts4.4 1.2 
Gain on derivative financial instruments$5.2 $1.5 
Schedule of Reclassifications Out of Other Comprehensive Loss, Attributable to Ciner Resources
The components of other comprehensive (loss) income, attributable to Sisecam Resources LP, that have been reclassified consisted of the following:
Three Months Ended March 31,Affected Line Items on the Unaudited Condensed Consolidated Statements of Operations and Comprehensive (Loss) income
(In millions)20222021
Details about other comprehensive (loss) income components:
Gains and losses on cash flow hedges:
Interest rate swap contracts$0.1 $0.1 Interest expense
Natural gas forward contracts(1.9)(0.2)Cost of products sold
Total reclassifications for the period$(1.8)$(0.1)
v3.22.1
AGREEMENTS AND TRANSACTIONS WITH AFFILIATES (Tables)
 3 Months Ended
Mar. 31, 2022
Related Party Transactions [Abstract]  
Schedule of Transactions with Affiliates
The total selling, general and administrative costs charged to the Partnership by affiliates were as follows:
Three Months Ended March 31,
(In millions)20222021
Sisecam Chemicals
$5.4 $3.6 
Total selling, general and administrative expenses - affiliates$5.4 $3.6 
The Partnership had accounts receivable from affiliates and due to affiliates as follows:
As of
March 31, 2022December 31, 2021March 31, 2022December 31, 2021
(In millions)Accounts receivable from affiliatesDue to affiliates
Sisecam Chemicals
$50.6 49.3 $2.8 2.2 
Other— — 1.1 0.1 
Total$50.6 $49.3 $3.9 $2.3 
v3.22.1
REVENUE (Tables)
 3 Months Ended
Mar. 31, 2022
Segment Reporting [Abstract]  
Schedule of Net Sales By Geographic Area The net sales by geographic area are as follows:
 Three Months Ended March 31,
(In millions)20222021
Domestic$69.5 $66.3 
International93.9 61.5 
Total net sales$163.4 $127.8 
v3.22.1
FAIR VALUE MEASUREMENTS (Tables)
 3 Months Ended
Mar. 31, 2022
Fair Value Disclosures [Abstract]  
Schedule of Fair Value of Derivative Assets and Liabilities
The following table presents the fair value of derivative assets and derivative liabilities and the respective locations as of March 31, 2022 and December 31, 2021:
 AssetsLiabilities
March 31,
2022		December 31,
2021		March 31,
2022		December 31,
2021
(In millions)Balance Sheet LocationFair ValueFair ValueBalance Sheet LocationFair ValueFair Value
Derivatives designated as hedges:
Interest rate swap contracts - current$— $— Accrued Expenses$0.1 $0.2 
Natural gas forward contracts - currentOther current assets8.2 5.9 Accrued Expenses— 0.6 
Interest rate swap contracts - non-currentOther non-current assets0.6 0.1 Other non-current liabilities— 0.2 
Natural gas forward contracts - non-currentOther non-current assets3.4 2.5 Other non-current liabilities0.8 1.4 
Total fair value of derivatives designated as hedging instruments$12.2 $8.5 $0.9 $2.4 
v3.22.1
CORPORATE STRUCTURE AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)
$ in Millions
 3 Months Ended
Dec. 21, 2021
Nov. 20, 2021
USD ($)
designee
director
manager
Mar. 31, 2022
segment
Noncontrolling Interest [Line Items]      
Number of operating segments | segment     1
Sisecam Chemicals      
Noncontrolling Interest [Line Items]      
Percentage of voting interests acquired   60.00%  
Consideration transferred | $   $ 300  
General Partner      
Noncontrolling Interest [Line Items]      
Number of independent directors | director   3  
Ciner Enterprises      
Noncontrolling Interest [Line Items]      
Number of directors designated | director   4  
Number of designees | designee   1  
Ciner Enterprises | General Partner      
Noncontrolling Interest [Line Items]      
Number of designees | designee   2  
Sisecam USA      
Noncontrolling Interest [Line Items]      
Number of directors designated | director   6  
Number of designees | designee   3  
Sisecam Wyoming      
Noncontrolling Interest [Line Items]      
Number of managers appointed | manager   4  
Sisecam Chemicals USA Inc. | Sisecam Chemicals      
Noncontrolling Interest [Line Items]      
Membership interest     60.00%
Ciner Enterprises | Other Ownership Interest      
Noncontrolling Interest [Line Items]      
Percentage of general partner ownership interest held 74.00%   74.00%
Ciner Enterprises | General Partner      
Noncontrolling Interest [Line Items]      
Percentage of general partner ownership interest held 100.00%    
Ciner Enterprises | Sisecam Chemicals      
Noncontrolling Interest [Line Items]      
Membership interest attributable to noncontrolling interest     40.00%
Turkiye Is Bankasi Turkiye Is Bankasi | Sisecam Parent      
Noncontrolling Interest [Line Items]      
Membership interest     51.00%
Ciner Wyoming      
Noncontrolling Interest [Line Items]      
Membership interest     51.00%
Membership interest attributable to noncontrolling interest     49.00%
Ciner Wyoming | NRP Trona LLC      
Noncontrolling Interest [Line Items]      
Membership interest attributable to noncontrolling interest     49.00%
Ciner Resource Partners LLC | General Partner      
Noncontrolling Interest [Line Items]      
Percentage of general partner ownership interest held     2.00%
v3.22.1
NET INCOME PER UNIT AND CASH DISTRIBUTION - Calculation of net income per unit (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]    
Net income attributable to Sisecam Resources LP $ 15.7 $ 2.4
Income in excess of distribution 5.6 2.4
Distribution declared 10.1 0.0
Net income attributable to partners $ 15.7 $ 2.4
Weighted average limited partner units outstanding:    
Weighted average limited partner units outstanding (basic) (in shares) 19.8 19.7
Weighted average limited partner units outstanding (diluted) (in shares) 19.8 19.8
Net income per limited partner unit:    
Net income per limited partner unit (basic) (in dollars per share) $ 0.78 $ 0.12
Net income per limited partner units (diluted) (in dollars per share) $ 0.78 $ 0.12
General Partner    
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]    
Less: General partner’s distribution declared $ 0.2 $ 0.0
Income in excess of distribution 0.1 0.1
Net income attributable to partners 0.3 0.1
Limited Partner    
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]    
Less: Limited partners’ distribution declared 9.9 0.0
Income in excess of distribution 5.5 2.3
Net income attributable to partners $ 15.4 $ 2.3
v3.22.1
NET INCOME PER UNIT AND CASH DISTRIBUTION - Narrative (Details) - $ / shares
 3 Months Ended
Apr. 29, 2022
Mar. 31, 2022
Subsequent Event    
Schedule of Percentage Allocation of Distributions From Operating Surplus [Line Items]    
Quarterly cash distribution (in dollars per share) $ 0.50  
General Partner | Second Target Distribution    
Schedule of Percentage Allocation of Distributions From Operating Surplus [Line Items]    
Increasing percentage allocation of operating surplus   13.00%
General Partner | Third Target Distribution    
Schedule of Percentage Allocation of Distributions From Operating Surplus [Line Items]    
Increasing percentage allocation of operating surplus   23.00%
General Partner | After Third Target Distribution    
Schedule of Percentage Allocation of Distributions From Operating Surplus [Line Items]    
Increasing percentage allocation of operating surplus   48.00%
Ciner Resource Partners LLC | General Partner    
Schedule of Percentage Allocation of Distributions From Operating Surplus [Line Items]    
Percentage of general partner ownership interest held   2.00%
v3.22.1
NET INCOME PER UNIT AND CASH DISTRIBUTION - Target distributions and marginal percentage interests (Details)
 3 Months Ended
Mar. 31, 2022
$ / shares
Minimum Quarterly Distribution  
Schedule of Percentage Allocation of Distributions From Operating Surplus [Line Items]  
Maximum quarterly distribution target levels (in dollars per share) $ 0.5000
First Target Distribution  
Schedule of Percentage Allocation of Distributions From Operating Surplus [Line Items]  
Minimum quarterly distribution target levels (in dollars per share) 0.5000
Maximum quarterly distribution target levels (in dollars per share) 0.5750
Second Target Distribution  
Schedule of Percentage Allocation of Distributions From Operating Surplus [Line Items]  
Minimum quarterly distribution target levels (in dollars per share) 0.5750
Maximum quarterly distribution target levels (in dollars per share) 0.6250
Third Target Distribution  
Schedule of Percentage Allocation of Distributions From Operating Surplus [Line Items]  
Minimum quarterly distribution target levels (in dollars per share) 0.6250
Maximum quarterly distribution target levels (in dollars per share) 0.7500
After Third Target Distribution  
Schedule of Percentage Allocation of Distributions From Operating Surplus [Line Items]  
Minimum quarterly distribution target levels (in dollars per share) $ 0.7500
Unitholders | Minimum Quarterly Distribution  
Schedule of Percentage Allocation of Distributions From Operating Surplus [Line Items]  
Marginal interest in distribution, percentage 98.00%
Unitholders | First Target Distribution  
Schedule of Percentage Allocation of Distributions From Operating Surplus [Line Items]  
Marginal interest in distribution, percentage 98.00%
Unitholders | Second Target Distribution  
Schedule of Percentage Allocation of Distributions From Operating Surplus [Line Items]  
Marginal interest in distribution, percentage 85.00%
Unitholders | Third Target Distribution  
Schedule of Percentage Allocation of Distributions From Operating Surplus [Line Items]  
Marginal interest in distribution, percentage 75.00%
Unitholders | After Third Target Distribution  
Schedule of Percentage Allocation of Distributions From Operating Surplus [Line Items]  
Marginal interest in distribution, percentage 50.00%
General Partner | Minimum Quarterly Distribution  
Schedule of Percentage Allocation of Distributions From Operating Surplus [Line Items]  
Marginal interest in distribution, percentage 2.00%
Incentive Distributions Rights 0.00%
General Partner | First Target Distribution  
Schedule of Percentage Allocation of Distributions From Operating Surplus [Line Items]  
Marginal interest in distribution, percentage 2.00%
Incentive Distributions Rights 0.00%
General Partner | Second Target Distribution  
Schedule of Percentage Allocation of Distributions From Operating Surplus [Line Items]  
Marginal interest in distribution, percentage 15.00%
Incentive Distributions Rights 13.00%
General Partner | Third Target Distribution  
Schedule of Percentage Allocation of Distributions From Operating Surplus [Line Items]  
Marginal interest in distribution, percentage 25.00%
Incentive Distributions Rights 23.00%
General Partner | After Third Target Distribution  
Schedule of Percentage Allocation of Distributions From Operating Surplus [Line Items]  
Marginal interest in distribution, percentage 50.00%
Incentive Distributions Rights 48.00%
v3.22.1
INVENTORY (Details) - USD ($)
$ in Millions
Mar. 31, 2022
Dec. 31, 2021
Inventory Disclosure [Abstract]    
Raw materials $ 15.1 $ 10.5
Finished goods 13.6 9.3
Stores inventory 10.4 10.3
Total $ 39.1 $ 30.1
v3.22.1
DEBT - Components of long-term debt (Details) - USD ($)
$ in Millions
Mar. 31, 2022
Dec. 31, 2021
Oct. 28, 2021
Debt Instrument [Line Items]      
Total debt $ 151.4 $ 123.6  
Current portion of long-term debt 8.6 8.6  
Total long-term debt 142.8 115.0  
Sisecam Wyoming Equipment Financing Arrangement Security Note Number 001 | Secured Debt      
Debt Instrument [Line Items]      
Total debt $ 23.8 $ 24.6  
Stated interest rate 2.479% 2.479%  
Sisecam Wyoming Equipment Financing Arrangement Security Note Number 002 | Secured Debt      
Debt Instrument [Line Items]      
Stated interest rate 2.4207% 2.4207%  
Sisecam Wyoming Equipment Financing Arrangement Security Note Number 002 | Line of Credit | Revolving credit facility      
Debt Instrument [Line Items]      
Total debt $ 27.6 $ 29.0  
Sisecam Wyoming Credit Facility | Line of Credit      
Debt Instrument [Line Items]      
Total debt     $ 225.0
Sisecam Wyoming Credit Facility | Line of Credit | Revolving credit facility      
Debt Instrument [Line Items]      
Total debt $ 100.0 $ 70.0  
Interest rate 2.05% 1.82%  
v3.22.1
DEBT - Maturities of long-term debt (Details)
$ in Millions
Mar. 31, 2022
USD ($)
Debt Disclosure [Abstract]  
2022 $ 6.5
2023 8.8
2024 9.1
2025 9.3
2026 109.5
Thereafter 8.4
Total $ 151.6
v3.22.1
DEBT - The Sisecam Wyoming Equipment Financing Arrangement (Details)
Dec. 17, 2021
USD ($)
installment
Mar. 25, 2020
USD ($)
installment
Mar. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Debt Instrument [Line Items]        
Total     $ 151,600,000  
Long-term debt     151,400,000 $ 123,600,000
Sisecam Wyoming Equipment Financing Arrangement Security Note Number 001 | Secured Debt        
Debt Instrument [Line Items]        
Face amount   $ 30,000,000    
Number of installments | installment   96    
Periodic payment   $ 307,000    
Number of monthly installments | installment   95    
Periodic payment terms, balloon payment to be paid   $ 4,307,000    
Total     24,000,000  
Long-term debt     23,800,000 $ 24,600,000
Sisecam Wyoming Equipment Financing Arrangement Security Note Number 002 | Secured Debt        
Debt Instrument [Line Items]        
Face amount $ 29,000,000      
Number of installments | installment 60      
Periodic payment $ 513,660      
Minimum | Sisecam Wyoming Equipment Financing Arrangement Security Note Number 001 | Secured Debt        
Debt Instrument [Line Items]        
Third party indebtedness     $ 10,000,000  
v3.22.1
DEBT - Sisecam Wyoming Credit Facility (Details)
Oct. 28, 2021
USD ($)
Mar. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Debt Instrument [Line Items]      
Long-term debt   $ 151,400,000 $ 123,600,000
Sisecam Wyoming Credit Facility | Line of Credit      
Debt Instrument [Line Items]      
Long-term debt $ 225,000,000    
Revolving credit facility | Sisecam Wyoming Credit Facility      
Debt Instrument [Line Items]      
Accordion feature, increase limit $ 250,000,000    
Revolving credit facility | Sisecam Wyoming Credit Facility | Applicable Margin Range | Minimum      
Debt Instrument [Line Items]      
Basis spread on variable rate 0.50%    
Revolving credit facility | Sisecam Wyoming Credit Facility | Applicable Margin Range | Maximum      
Debt Instrument [Line Items]      
Basis spread on variable rate 1.75%    
Revolving credit facility | Sisecam Wyoming Credit Facility | Line of Credit      
Debt Instrument [Line Items]      
Line of credit facility, maximum borrowing capacity $ 225,000,000    
Long-term debt   $ 100,000,000.0 $ 70,000,000.0
Consolidated leverage ratio 3.25    
Maximum consolidated leverage ratio 3.75    
Consolidated interest coverage ratio 3.00    
Maximum threshold for expansions 3.75    
Minimum capital expenditures $ 200,000,000    
Consolidated leverage ratio, minimum threshold for default 3.00    
Revolving credit facility | Sisecam Wyoming Credit Facility | Line of Credit | Fed Funds Effective Rate Overnight Index Swap Rate      
Debt Instrument [Line Items]      
Basis spread on variable rate 0.50%    
Revolving credit facility | Sisecam Wyoming Credit Facility | Line of Credit | Bloomberg Short Term Bank Yield Index      
Debt Instrument [Line Items]      
Basis spread on variable rate 1.00%    
Revolving credit facility | Sisecam Wyoming Credit Facility | Line of Credit | Bloomberg Short Term Bank Yield Index | Minimum      
Debt Instrument [Line Items]      
Basis spread on variable rate 1.50%    
Revolving credit facility | Sisecam Wyoming Credit Facility | Line of Credit | Bloomberg Short Term Bank Yield Index | Maximum      
Debt Instrument [Line Items]      
Basis spread on variable rate 2.75%    
Standby Letters of Credit | Sisecam Wyoming Credit Facility      
Debt Instrument [Line Items]      
Line of credit facility, maximum borrowing capacity $ 40,000,000    
Swing Line Advances | Sisecam Wyoming Credit Facility      
Debt Instrument [Line Items]      
Line of credit facility, maximum borrowing capacity $ 20,000,000    
v3.22.1
DEBT - Schedule of Debt Covenants (Details) - Revolving credit facility - Line of Credit - Sisecam Wyoming Credit Facility
 3 Months Ended
Oct. 28, 2021
Mar. 31, 2022
Debt Instrument [Line Items]    
Consolidated leverage ratio 3.25  
Bloomberg Short Term Bank Yield Index    
Debt Instrument [Line Items]    
Basis spread on variable rate 1.00%  
Bloomberg Short Term Bank Yield Index | Minimum    
Debt Instrument [Line Items]    
Basis spread on variable rate 1.50%  
Bloomberg Short Term Bank Yield Index | Maximum    
Debt Instrument [Line Items]    
Basis spread on variable rate 2.75%  
Pricing Tier 1    
Debt Instrument [Line Items]    
Unused capacity, commitment fee percentage   0.225%
Pricing Tier 1 | Maximum    
Debt Instrument [Line Items]    
Consolidated leverage ratio   1.25
Pricing Tier 1 | Bloomberg Short Term Bank Yield Index    
Debt Instrument [Line Items]    
Basis spread on variable rate   1.50%
Pricing Tier 1 | Base Rate    
Debt Instrument [Line Items]    
Basis spread on variable rate   0.50%
Pricing Tier 2    
Debt Instrument [Line Items]    
Unused capacity, commitment fee percentage   0.25%
Pricing Tier 2 | Minimum    
Debt Instrument [Line Items]    
Consolidated leverage ratio   1.25
Pricing Tier 2 | Maximum    
Debt Instrument [Line Items]    
Consolidated leverage ratio   1.75
Pricing Tier 2 | Bloomberg Short Term Bank Yield Index    
Debt Instrument [Line Items]    
Basis spread on variable rate   1.75%
Pricing Tier 2 | Base Rate    
Debt Instrument [Line Items]    
Basis spread on variable rate   0.75%
Pricing Tier 3    
Debt Instrument [Line Items]    
Unused capacity, commitment fee percentage   0.275%
Pricing Tier 3 | Minimum    
Debt Instrument [Line Items]    
Consolidated leverage ratio   1.75
Pricing Tier 3 | Maximum    
Debt Instrument [Line Items]    
Consolidated leverage ratio   2.25
Pricing Tier 3 | Bloomberg Short Term Bank Yield Index    
Debt Instrument [Line Items]    
Basis spread on variable rate   2.00%
Pricing Tier 3 | Base Rate    
Debt Instrument [Line Items]    
Basis spread on variable rate   1.00%
Pricing Tier 4    
Debt Instrument [Line Items]    
Unused capacity, commitment fee percentage   0.30%
Pricing Tier 4 | Minimum    
Debt Instrument [Line Items]    
Consolidated leverage ratio   2.25
Pricing Tier 4 | Maximum    
Debt Instrument [Line Items]    
Consolidated leverage ratio   3.00
Pricing Tier 4 | Bloomberg Short Term Bank Yield Index    
Debt Instrument [Line Items]    
Basis spread on variable rate   2.25%
Pricing Tier 4 | Base Rate    
Debt Instrument [Line Items]    
Basis spread on variable rate   1.25%
Pricing Tier 5    
Debt Instrument [Line Items]    
Unused capacity, commitment fee percentage   0.325%
Pricing Tier 5 | Minimum    
Debt Instrument [Line Items]    
Consolidated leverage ratio   3.00
Pricing Tier 5 | Maximum    
Debt Instrument [Line Items]    
Consolidated leverage ratio   3.50
Pricing Tier 5 | Bloomberg Short Term Bank Yield Index    
Debt Instrument [Line Items]    
Basis spread on variable rate   2.50%
Pricing Tier 5 | Base Rate    
Debt Instrument [Line Items]    
Basis spread on variable rate   1.50%
Pricing Tier 6    
Debt Instrument [Line Items]    
Unused capacity, commitment fee percentage   0.35%
Pricing Tier 6 | Maximum    
Debt Instrument [Line Items]    
Consolidated leverage ratio   3.50
Pricing Tier 6 | Bloomberg Short Term Bank Yield Index    
Debt Instrument [Line Items]    
Basis spread on variable rate   2.75%
Pricing Tier 6 | Base Rate    
Debt Instrument [Line Items]    
Basis spread on variable rate   1.75%
v3.22.1
DEBT - Prior Sisecam Wyoming Credit Facility (Details)
Jul. 27, 2020
Aug. 01, 2017
USD ($)
Revolving credit facility | Prior Sisecam Wyoming Credit Facility    
Debt Instrument [Line Items]    
Line of credit facility, maximum borrowing capacity   $ 225,000,000
Revolving credit facility | Prior Sisecam Wyoming Credit Facility | Line of Credit    
Debt Instrument [Line Items]    
Consolidated leverage ratio, maximum threshold for release 2.00  
Interest coverage ratio, minimum 3.00  
Debt instrument, term   5 years
Revolving credit facility | Prior Sisecam Wyoming Credit Facility | Minimum | Line of Credit    
Debt Instrument [Line Items]    
Consolidated leverage ratio, restriction threshold 3.50  
Revolving credit facility | Prior Sisecam Wyoming Credit Facility | Base Rate    
Debt Instrument [Line Items]    
Covenant interest rate floor 0.50%  
Revolving credit facility | Ciner Resources Credit Facility | Line of Credit    
Debt Instrument [Line Items]    
Line of credit facility, maximum borrowing capacity   $ 10,000,000
Debt instrument, term   5 years
Swing Line Advances | Ciner Resources Credit Facility | Line of Credit    
Debt Instrument [Line Items]    
Line of credit facility, maximum borrowing capacity   $ 5,000,000
Letters of Credit | Ciner Resources Credit Facility | Line of Credit    
Debt Instrument [Line Items]    
Line of credit facility, maximum borrowing capacity   $ 5,000,000
v3.22.1
DEBT - Ciner Resources Credit Facility (Details) - Ciner Resources Credit Facility - Line of Credit
Aug. 01, 2017
USD ($)
Revolving credit facility  
Debt Instrument [Line Items]  
Line of credit facility, maximum borrowing capacity $ 10,000,000
Debt instrument, term 5 years
Swing Line Advances  
Debt Instrument [Line Items]  
Line of credit facility, maximum borrowing capacity $ 5,000,000
Letters of Credit  
Debt Instrument [Line Items]  
Line of credit facility, maximum borrowing capacity $ 5,000,000
v3.22.1
OTHER NON-CURRENT LIABILITIES (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Mar. 31, 2022
Dec. 31, 2021
Asset Retirement Obligation Disclosure [Abstract]    
Reclamation reserve $ 8.1 $ 8.0
Accrued other taxes 3.7 0.0
Other 1.0 1.8
Total 12.8 9.8
Reclamation reserve    
Beginning reclamation reserve balance 8.0 7.3
Accretion expense 0.1 0.4
Reclamation adjustments 0.0 0.3
Ending reclamation reserve balance $ 8.1 $ 8.0
v3.22.1
EMPLOYEE COMPENSATION (Details)
$ in Millions
 3 Months Ended 63 Months Ended
Mar. 31, 2022
USD ($)
Mar. 31, 2021
USD ($)
Mar. 31, 2022
USD ($)
age
Dec. 31, 2021
USD ($)
Defined Benefit Plan Disclosure [Line Items]        
Average compensation period 60 months      
Period of last service 120 months      
Postretirement eligibility, minimum age | age     58  
Postretirement eligibility, minimum amount of service years     10 years  
Retirement Plans        
Defined Benefit Plan Disclosure [Line Items]        
Net unfunded liability $ 31.9   $ 31.9 $ 32.8
Net periodic pension cost (credit) (0.9) $ (0.8)    
Savings Plan        
Defined Benefit Plan Disclosure [Line Items]        
Contributions made by employer 1.7 1.7    
Postretirement Benefits        
Defined Benefit Plan Disclosure [Line Items]        
Net unfunded liability 10.6   $ 10.6 $ 10.7
Net periodic pension cost (credit) $ 0.2 $ 0.2    
v3.22.1
EQUITY - BASED COMPENSATION - Narrative (Details) - USD ($)
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Dec. 31, 2021
Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Number of shares authorized (in shares) 600,000      
Unvested time restricted units awards (in shares) 0   0  
Unrecognized compensation expense $ 0   $ 0  
Restricted Stock Units (RSUs)        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Unvested time restricted units awards (in shares) 0 9,688 0 21,937
Performance-Based Units | Total Return Performance Unit Awards        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Unvested time restricted units awards (in shares) 0 0 0 7,678
Performance-Based Units | 2019 Performance Unit Awards        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Award vesting period 3 years      
Unvested time restricted units awards (in shares) 0 29,057 25,062 29,057
Payout range 84.00%      
Common units | Director - non employee        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Common units granted (in shares) 0 0    
Minimum | Restricted Stock Units (RSUs)        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Award vesting period 1 year      
Minimum | Performance-Based Units | Total Return Performance Unit Awards        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Award vesting period 2 years      
Payout range 0.00%      
Minimum | Performance-Based Units | 2019 Performance Unit Awards        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Payout range 0.00%      
Maximum | Restricted Stock Units (RSUs)        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Award vesting period 3 years      
Maximum | Performance-Based Units | Total Return Performance Unit Awards        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Award vesting period 3 years      
Payout range 200.00%      
Maximum | Performance-Based Units | 2019 Performance Unit Awards        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Payout range 200.00%      
v3.22.1
EQUITY - BASED COMPENSATION - Schedule of Restricted Unit Award Activity (Details) - $ / shares
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Number of Common Units    
Unvested at the beginning of period (in shares) 0  
Unvested at the end of the period (in shares) 0  
Restricted Stock Units (RSUs)    
Number of Common Units    
Unvested at the beginning of period (in shares) 0 21,937
Vested (in shares) 0 (12,249)
Unvested at the end of the period (in shares) 0 9,688
Grant-Date Average Fair Value per Unit    
Unvested at the beginning of period (in dollars per share) $ 0 $ 17.57
Vested (in dollars per share) 0 18.46
Unvested at the end of the period (in dollars per share) $ 0 $ 16.45
v3.22.1
EQUITY - BASED COMPENSATION - Schedule of Total Return Performance Unit Award Activity (Details) - $ / shares
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Number of Common Units    
Unvested at the beginning of period (in shares) 0  
Unvested at the end of the period (in shares) 0  
Total Return Performance Unit Awards | Performance-Based Units    
Number of Common Units    
Unvested at the beginning of period (in shares) 0 7,678
Vested (in shares) 0 (7,678)
Unvested at the end of the period (in shares) 0 0
Grant-Date Average Fair Value per Unit    
Unvested at the beginning of period (in dollars per share) $ 0 $ 41.53
Vested (in dollars per share) 0 41.53
Unvested at the end of the period (in dollars per share) $ 0 $ 0
v3.22.1
EQUITY - BASED COMPENSATION - Performance Unit Awards (Details) - $ / shares
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Number of Common Units    
Unvested at the beginning of period (in shares) 0  
Unvested at the end of the period (in shares) 0  
2019 Performance Unit Awards | Performance-Based Units    
Number of Common Units    
Unvested at the beginning of period (in shares) 25,062 29,057
Vested (in shares) (21,171) 0
Performance adjustments (in shares) (3,891) 0
Unvested at the end of the period (in shares) 0 29,057
Grant-Date Average Fair Value per Unit    
Unvested at the beginning of period (in dollars per share) $ 16.45 $ 16.45
Common units grant date average fair value (in dollars per share) 16.45 0
Performance adjustments (in dollars per share) 16.45 0
Unvested at the end of the period (in dollars per share) $ 0 $ 16.45
Payout range 84.00%  
v3.22.1
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Schedule of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
AOCI Attributable to Parent, Net of Tax [Roll Forward]    
Beginning balance $ 344.7 $ 305.3
Net current period other comprehensive income 5.2 1.5
Ending balance 354.9 $ 308.5
Gains and (Losses) on Cash Flow Hedges    
AOCI Attributable to Parent, Net of Tax [Roll Forward]    
Beginning balance 3.0  
Other comprehensive income before reclassification 4.5  
Amounts reclassified from accumulated other comprehensive loss (1.8)  
Net current period other comprehensive income 2.7  
Ending balance $ 5.7  
v3.22.1
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Components of Other Comprehensive Income (Loss) (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]    
Unrealized loss (gain) on derivative financial instruments $ 5.2 $ 1.5
Interest rate swap contracts    
Accumulated Other Comprehensive Income (Loss) [Line Items]    
Unrealized loss (gain) on derivative financial instruments 0.8 0.3
Natural gas forward contracts    
Accumulated Other Comprehensive Income (Loss) [Line Items]    
Unrealized loss (gain) on derivative financial instruments $ 4.4 $ 1.2
v3.22.1
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Schedule of Reclassifications out of Other Comprehensive Income (Loss) (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]    
Interest expense $ 1.1 $ 1.3
Cost of products sold 117.4 106.6
Net income 31.8 5.6
Reclassification out of Accumulated Other Comprehensive Income    
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]    
Net income (1.8) (0.1)
Reclassification out of Accumulated Other Comprehensive Income | Gains and (Losses) on Cash Flow Hedges | Interest rate swap contracts    
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]    
Interest expense 0.1 0.1
Reclassification out of Accumulated Other Comprehensive Income | Gains and (Losses) on Cash Flow Hedges | Natural gas forward contracts    
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]    
Cost of products sold $ (1.9) $ (0.2)
v3.22.1
COMMITMENTS AND CONTINGENCIES - Narrative (Details) - USD ($)
$ in Millions
Mar. 31, 2022
Dec. 31, 2021
Self-bond agreement for reclamation costs    
Other Commitments [Line Items]    
Off balance sheet commitment $ 41.8 $ 41.8
Commodity | Minimum    
Other Commitments [Line Items]    
Annual minimum gas transportation contract requirements 1.5  
Commodity | Maximum    
Other Commitments [Line Items]    
Annual minimum gas transportation contract requirements $ 2.8  
v3.22.1
AGREEMENTS AND TRANSACTIONS WITH AFFILIATES - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Related Party Transactions [Abstract]    
Total charges for services obtained from affiliates $ 2.4 $ 0.2
v3.22.1
AGREEMENTS AND TRANSACTIONS WITH AFFILIATES - Costs charged by affiliates (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Related Party Transaction [Line Items]    
Total selling, general and administrative expenses - affiliates $ 5.4 $ 3.6
Sisecam Chemicals    
Related Party Transaction [Line Items]    
Total selling, general and administrative expenses - affiliates $ 5.4 $ 3.6
v3.22.1
AGREEMENTS AND TRANSACTIONS WITH AFFILIATES - Receivables from or payables to affiliates (Details) - USD ($)
$ in Millions
Mar. 31, 2022
Dec. 31, 2021
Related Party Transaction [Line Items]    
Accounts receivable from affiliates $ 50.6 $ 49.3
Due to affiliates 3.9 2.3
Sisecam Chemicals    
Related Party Transaction [Line Items]    
Accounts receivable from affiliates 50.6 49.3
Due to affiliates 2.8 2.2
Other    
Related Party Transaction [Line Items]    
Accounts receivable from affiliates 0.0 0.0
Due to affiliates $ 1.1 $ 0.1
v3.22.1
REVENUE - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Revenue from External Customer [Line Items]    
Revenue from international customer $ 163.4 $ 127.8
International    
Revenue from External Customer [Line Items]    
Revenue from international customer 93.9 61.5
Three Major Customers | International    
Revenue from External Customer [Line Items]    
Revenue from international customer $ 64.2  
Three Major Customers | Revenue from Contract with Customer Benchmark | Customer Concentration Risk    
Revenue from External Customer [Line Items]    
Concentration risk percentage (over) 10.00%  
Two Major Customers | International    
Revenue from External Customer [Line Items]    
Revenue from international customer   $ 43.4
Two Major Customers | Revenue from Contract with Customer Benchmark | Customer Concentration Risk    
Revenue from External Customer [Line Items]    
Concentration risk percentage (over)   10.00%
v3.22.1
REVENUE - Sales by geographic area (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Sales by geographical area    
Revenue by major product line $ 163.4 $ 127.8
Domestic    
Sales by geographical area    
Revenue by major product line 69.5 66.3
International    
Sales by geographical area    
Revenue by major product line $ 93.9 $ 61.5
v3.22.1
FAIR VALUE MEASUREMENTS - Narrative (Details) - Recurring fair value measurements - USD ($)
Mar. 31, 2022
Dec. 31, 2021
Natural gas forward contracts    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Notional amount $ 16,400,000 $ 24,100,000
Interest rate swap contracts | Cash Flow Hedging | Designated as Hedging Instrument    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Notional amount $ 37,500,000 $ 37,500,000
v3.22.1
FAIR VALUE MEASUREMENTS - Schedule of Fair Value of Derivative Assets and Liability (Details) - Recurring fair value measurements - USD ($)
$ in Millions
Mar. 31, 2022
Dec. 31, 2021
Assets    
Total fair value of derivatives designated as hedging instruments $ 12.2 $ 8.5
Liabilities    
Total fair value of derivatives designated as hedging instruments 0.9 2.4
Other current assets | Interest rate swap contracts    
Assets    
Derivative asset, current 0.0 0.0
Other current assets | Natural gas forward contracts    
Assets    
Derivative asset, current 8.2 5.9
Other non-current assets | Interest rate swap contracts    
Assets    
Derivative asset, noncurrent 0.6 0.1
Other non-current assets | Natural gas forward contracts    
Assets    
Derivative asset, noncurrent 3.4 2.5
Accrued Expenses | Interest rate swap contracts    
Liabilities    
Derivative liability, current 0.1 0.2
Accrued Expenses | Natural gas forward contracts    
Liabilities    
Derivative liability, current 0.0 0.6
Other non-current liabilities | Interest rate swap contracts    
Liabilities    
Derivative liability, noncurrent 0.0 0.2
Other non-current liabilities | Natural gas forward contracts    
Liabilities    
Derivative liability, noncurrent $ 0.8 $ 1.4
v3.22.1
SUBSEQUENT EVENTS - Narrative (Details) - Subsequent Event - USD ($)
$ / shares in Units, $ in Millions
Apr. 29, 2022
Apr. 28, 2022
Subsequent Event [Line Items]    
Cash distributions declared   $ 21.4
Quarterly cash distribution (in dollars per share) $ 0.50