| DEBT
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Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
(In millions, except per unit data) | 2017 | 2016 | 2017 | 2016 | |||||||||||
Numerator: | |||||||||||||||
Net income attributable to Ciner Resources LP | $ | 9.2 | $ | 11.1 | $ | 28.3 | $ | 31.6 | |||||||
Less: General partner’s interest in net income | 0.2 | 0.2 | 0.6 | 0.6 | |||||||||||
Total limited partners’ interest in net income | $ | 9.0 | $ | 10.9 | $ | 27.7 | $ | 31.0 | |||||||
Denominator: | |||||||||||||||
Weighted average limited parter units outstanding: | |||||||||||||||
Common - Public and Ciner Holdings (basic and diluted) | 19.7 | 9.8 | 19.7 | 9.8 | |||||||||||
Subordinated - Ciner Holdings (basic and diluted) | — | 9.8 | — | 9.8 | |||||||||||
Weighted average limited partner units outstanding | 19.7 | 19.6 | 19.7 | 19.6 | |||||||||||
Net income per limited partner units: | |||||||||||||||
Common - Public and Ciner Holdings (basic and diluted) | $ | 0.46 | $ | 0.56 | $ | 1.41 | $ | 1.58 | |||||||
Subordinated - Ciner Holdings (basic and diluted) | $ | — | $ | 0.55 | $ | — | $ | 1.58 | |||||||
Net income per limited partner units (basic and diluted) | $ | 0.46 | $ | 0.56 | $ | 1.41 | $ | 1.58 |
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
(In millions, except per unit data) | 2017 | 2016 | 2017 | 2016 | |||||||||||
Net income attributable to common unitholders: | |||||||||||||||
Distributions(1) | $ | 11.2 | $ | 5.6 | $ | 33.4 | $ | 16.8 | |||||||
Distributions in excess of net income | (2.2 | ) | (0.1 | ) | (5.7 | ) | (1.2 | ) | |||||||
Common unitholders’ interest in net income | $ | 9.0 | $ | 5.5 | $ | 27.7 | $ | 15.6 | |||||||
Net income attributable to subordinated unitholders: | |||||||||||||||
Distributions(1) | $ | — | $ | 5.6 | $ | — | $ | 16.6 | |||||||
Distributions in excess of net income | — | (0.2 | ) | — | (1.2 | ) | |||||||||
Subordinated unitholders’ interest in net income | $ | — | $ | 5.4 | $ | — | $ | 15.4 | |||||||
(1) Distributions declared per unit for the period | $ | 0.5670 | $ | 0.5670 | $1.701 | $ | 1.698 |
Marginal Percentage Interest in Distributions | |||||||
Total Quarterly Distribution per Unit Target Amount | Unitholders | General Partner | |||||
Minimum Quarterly Distribution | $0.5000 | 98.0 | % | 2.0 | % | ||
First Target Distribution | above $0.5000 up to $0.5750 | 98.0 | % | 2.0 | % | ||
Second Target Distribution | above $0.5750 up to $0.6250 | 85.0 | % | 15.0 | % | ||
Third Target Distribution | above $0.6250 up to $0.7500 | 75.0 | % | 25.0 | % | ||
Thereafter | above $0.7500 | 50.0 | % | 50.0 | % |
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As of | |||||||
(In millions) | September 30, 2017 | December 31, 2016 | |||||
Raw materials | $ | 9.3 | $ | 7.7 | |||
Finished goods | 4.3 | 5.8 | |||||
Stores inventory | 6.2 | 5.5 | |||||
Total | $ | 19.8 | $ | 19.0 |
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As of | |||||||
(In millions) | September 30, 2017 | December 31, 2016 | |||||
Variable Rate Demand Revenue Bonds, principal due October 1, 2018, interest payable monthly, bearing an interest rate of 1.04% at September 30, 2017 and 0.87% December 31, 2016 | $ | 11.4 | $ | 11.4 | |||
Variable Rate Demand Revenue Bonds, principal due August 1, 2017, interest payable monthly, bearing an interest rate of 0.87% at December 31, 2016 | — | 8.6 | |||||
Former Ciner Wyoming Credit Facility, unsecured principal expiring on July 18, 2018, variable interest rate as a weighted average rate of 2.36% at December 31, 2016 | — | 78.0 | |||||
Ciner Wyoming Credit Facility, unsecured principal expiring on August 1, 2022, variable interest rate as a weighted average rate of 2.79% at September 30, 2017 | 124.5 | — | |||||
Total debt | 135.9 | 98.0 | |||||
Current portion of long-term debt | — | 8.6 | |||||
Total long-term debt | $ | 135.9 | $ | 89.4 |
(In millions) | Amount | ||
2018 | $ | 11.4 | |
2019 | — | ||
2020 | — | ||
2021 | — | ||
2022 | 124.5 | ||
Total | $ | 135.9 |
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As of | |||||||
(In millions) | September 30, 2017 | December 31, 2016 | |||||
Reclamation reserve | $ | 5.0 | $ | 5.5 | |||
Derivative instruments and hedges, fair value liabilities | 4.8 | 3.4 | |||||
Other | — | 0.1 | |||||
Total | $ | 9.8 | $ | 9.0 |
For the period ended | |||||||
(In millions) | September 30, 2017 | December 31, 2016 | |||||
Beginning reclamation reserve balance | $ | 5.5 | $ | 4.5 | |||
Accretion expense | 0.2 | 0.2 | |||||
Reclamation adjustments (1) | (0.7 | ) | 0.8 | ||||
Ending reclamation reserve balance | $ | 5.0 | $ | 5.5 |
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Nine Months Ended September 30, 2017 | Nine Months Ended September 30, 2016 | ||||||||||||
(Units in whole numbers) | Number of Units | Grant-Date Average Fair Value per Unit (1) | Number of Units | Grant-Date Average Fair Value per Unit (1) | |||||||||
Unvested at the beginning of period | 39,170 | $ | 22.50 | — | $ | — | |||||||
Granted | 80,370 | 28.41 | 39,170 | 22.50 | |||||||||
Vested | (13,055 | ) | 22.50 | — | — | ||||||||
Forfeited | (11,694 | ) | 24.90 | — | — | ||||||||
Unvested at the end of the period | 94,791 | $ | 27.22 | 39,170 | $ | 22.50 |
Nine Months Ended September 30, 2017 | Nine Months Ended September 30, 2016 | ||||||||||||
(Units in whole numbers) | Number of Units | Grant-Date Average Fair Value per Unit(1) | Number of Units | Grant-Date Average Fair Value per Unit (1) | |||||||||
Unvested at the beginning of period | 5,787 | $ | 43.93 | — | $ | — | |||||||
Granted | 48,574 | 42.76 | 5,787 | 43.93 | |||||||||
Forfeited | (1,021 | ) | 43.93 | — | — | ||||||||
Unvested at the end of the period | 53,340 | $ | 42.86 | 5,787 | $ | 43.93 |
Nine Months Ended September 30, 2017 | Nine Months Ended September 30, 2016 | ||||||||||
Unrecognized Compensation Expense (In millions) | Weighted Average to be Recognized (In years) | Unrecognized Compensation Expense (In millions) | Weighted Average to be Recognized (In years) | ||||||||
Time-based units | $ | 2.0 | 2.31 | $ | 0.6 | 1.85 | |||||
Performance-based units | 0.9 | 2.14 | 0.2 | 2.34 | |||||||
Total | $ | 2.9 | $ | 0.8 |
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(In millions) | Gains and (Losses) on Cash Flow Hedges | |||
Balance at December 31, 2016 | $ | (1.6 | ) | |
Other comprehensive loss before reclassification | (2.0 | ) | ||
Amounts reclassified from accumulated other comprehensive loss | 0.5 | |||
Net current period other comprehensive loss | (1.5 | ) | ||
Balance at September 30, 2017 | $ | (3.1 | ) |
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
(In millions) | 2017 | 2016 | 2017 | 2016 | ||||||||||||
Unrealized gain (loss) on derivatives: | ||||||||||||||||
Mark to market adjustment on interest rate swap contracts | $ | 0.1 | $ | 0.5 | $ | 0.3 | $ | (0.2 | ) | |||||||
Mark to market adjustment on natural gas forward contracts | (0.6 | ) | (1.8 | ) | (3.2 | ) | (0.7 | ) | ||||||||
Mark to market adjustment on foreign exchange forward contracts | — | — | — | — | ||||||||||||
Loss on derivative financial instruments | $ | (0.5 | ) | $ | (1.3 | ) | $ | (2.9 | ) | $ | (0.9 | ) |
Three Months Ended September 30, | Nine Months Ended September 30, | Affected Line Items on the Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income | ||||||||||||||||
(In millions) | 2017 | 2016 | 2017 | 2016 | ||||||||||||||
Details about other comprehensive loss components: | ||||||||||||||||||
Gains and losses on cash flow hedges: | ||||||||||||||||||
Interest rate swap contracts | $ | 0.1 | $ | 0.1 | $ | 0.2 | $ | 0.3 | Interest expense | |||||||||
Natural gas forward contracts | 0.1 | 0.1 | 0.3 | 0.5 | Cost of products sold | |||||||||||||
Total reclassifications for the period | $ | 0.2 | $ | 0.2 | $ | 0.5 | $ | 0.8 |
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Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
(In millions) | 2017 | 2016 | 2017 | 2016 | |||||||||||
Ciner Corp | $ | 3.6 | $ | 4.1 | $ | 10.8 | $ | 11.5 | |||||||
ANSAC (1) | 0.7 | 0.9 | 1.6 | 2.7 | |||||||||||
Total selling, general and administrative expenses - Affiliates | $ | 4.3 | $ | 5.0 | $ | 12.4 | $ | 14.2 |
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
(In millions) | 2017 | 2016 | 2017 | 2016 | |||||||||||
ANSAC | $ | 60.7 | $ | 69.9 | $ | 153.6 | $ | 199.4 | |||||||
CIDT | 13.9 | — | 70.1 | — | |||||||||||
Other | — | 2.7 | — | 8.4 | |||||||||||
Total | $ | 74.6 | $ | 72.6 | $ | 223.7 | $ | 207.8 |
As of | |||||||||||||||
September 30, 2017 | December 31, 2016 | September 30, 2017 | December 31, 2016 | ||||||||||||
(In millions) | Accounts receivable from affiliates | Due to affiliates | |||||||||||||
ANSAC | $ | 45.9 | $ | 46.5 | $ | 2.9 | $ | — | |||||||
CIDT | 49.9 | 9.0 | — | — | |||||||||||
Ciner Corp | 6.7 | 3.9 | 1.7 | 1.7 | |||||||||||
Ciner Resources Europe NV | — | 2.2 | — | — | |||||||||||
Other | — | — | — | 2.5 | |||||||||||
Total | $ | 102.5 | $ | 61.6 | $ | 4.6 | $ | 4.2 |
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Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
(In millions) | 2017 | 2016 | 2017 | 2016 | |||||||||||
Domestic | $ | 47.9 | $ | 48.4 | $ | 145.1 | $ | 144.3 | |||||||
International | |||||||||||||||
ANSAC | 60.7 | 69.9 | 153.6 | 199.4 | |||||||||||
CIDT | 13.9 | — | 70.1 | — | |||||||||||
Other | — | 2.7 | — | 8.4 | |||||||||||
Total international | 74.6 | 72.6 | 223.7 | 207.8 | |||||||||||
Total net sales | $ | 122.5 | $ | 121.0 | $ | 368.8 | $ | 352.1 |
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| Level 1-inputs to the valuation methodology are quoted prices (unadjusted) for an identical asset or liability in an active market. |
| Level 2-inputs to the valuation methodology include quoted prices for a similar asset or liability in an active market or model-derived valuations in which all significant inputs are observable for substantially the full term of the asset or liability. |
| Level 3-inputs to the valuation methodology are unobservable and significant to the fair value measurement of the asset or liability. |
Assets | Liabilities | ||||||||||||||||||||||
September 30, 2017 | December 31, 2016 | September 30, 2017 | December 31, 2016 | ||||||||||||||||||||
(In millions) | Balance Sheet Location | Fair Value | Balance Sheet Location | Fair Value | Balance Sheet Location | Fair Value | Balance Sheet Location | Fair Value | |||||||||||||||
Derivatives designated as hedges: | |||||||||||||||||||||||
Interest rate swap contracts - current | $ | — | $ | — | Accrued Expenses | $ | 0.1 | Accrued Expenses | $ | 0.4 | |||||||||||||
Natural gas forward contracts - current | Other current assets | — | Other current assets | 0.6 | Accrued Expenses | 1.3 | Accrued Expenses | — | |||||||||||||||
Natural gas forward contracts - non-current | — | — | Other non-current liabilities | 4.8 | Other non-current liabilities | 3.4 | |||||||||||||||||
Total derivatives designated as hedging instruments | $ | — | $ | 0.6 | $ | 6.2 | $ | 3.8 |
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Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
(In millions, except per unit data) | 2017 | 2016 | 2017 | 2016 | |||||||||||
Numerator: | |||||||||||||||
Net income attributable to Ciner Resources LP | $ | 9.2 | $ | 11.1 | $ | 28.3 | $ | 31.6 | |||||||
Less: General partner’s interest in net income | 0.2 | 0.2 | 0.6 | 0.6 | |||||||||||
Total limited partners’ interest in net income | $ | 9.0 | $ | 10.9 | $ | 27.7 | $ | 31.0 | |||||||
Denominator: | |||||||||||||||
Weighted average limited parter units outstanding: | |||||||||||||||
Common - Public and Ciner Holdings (basic and diluted) | 19.7 | 9.8 | 19.7 | 9.8 | |||||||||||
Subordinated - Ciner Holdings (basic and diluted) | — | 9.8 | — | 9.8 | |||||||||||
Weighted average limited partner units outstanding | 19.7 | 19.6 | 19.7 | 19.6 | |||||||||||
Net income per limited partner units: | |||||||||||||||
Common - Public and Ciner Holdings (basic and diluted) | $ | 0.46 | $ | 0.56 | $ | 1.41 | $ | 1.58 | |||||||
Subordinated - Ciner Holdings (basic and diluted) | $ | — | $ | 0.55 | $ | — | $ | 1.58 | |||||||
Net income per limited partner units (basic and diluted) | $ | 0.46 | $ | 0.56 | $ | 1.41 | $ | 1.58 |
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
(In millions, except per unit data) | 2017 | 2016 | 2017 | 2016 | |||||||||||
Net income attributable to common unitholders: | |||||||||||||||
Distributions(1) | $ | 11.2 | $ | 5.6 | $ | 33.4 | $ | 16.8 | |||||||
Distributions in excess of net income | (2.2 | ) | (0.1 | ) | (5.7 | ) | (1.2 | ) | |||||||
Common unitholders’ interest in net income | $ | 9.0 | $ | 5.5 | $ | 27.7 | $ | 15.6 | |||||||
Net income attributable to subordinated unitholders: | |||||||||||||||
Distributions(1) | $ | — | $ | 5.6 | $ | — | $ | 16.6 | |||||||
Distributions in excess of net income | — | (0.2 | ) | — | (1.2 | ) | |||||||||
Subordinated unitholders’ interest in net income | $ | — | $ | 5.4 | $ | — | $ | 15.4 | |||||||
(1) Distributions declared per unit for the period | $ | 0.5670 | $ | 0.5670 | $1.701 | $ | 1.698 |
Marginal Percentage Interest in Distributions | |||||||
Total Quarterly Distribution per Unit Target Amount | Unitholders | General Partner | |||||
Minimum Quarterly Distribution | $0.5000 | 98.0 | % | 2.0 | % | ||
First Target Distribution | above $0.5000 up to $0.5750 | 98.0 | % | 2.0 | % | ||
Second Target Distribution | above $0.5750 up to $0.6250 | 85.0 | % | 15.0 | % | ||
Third Target Distribution | above $0.6250 up to $0.7500 | 75.0 | % | 25.0 | % | ||
Thereafter | above $0.7500 | 50.0 | % | 50.0 | % |
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As of | |||||||
(In millions) | September 30, 2017 | December 31, 2016 | |||||
Raw materials | $ | 9.3 | $ | 7.7 | |||
Finished goods | 4.3 | 5.8 | |||||
Stores inventory | 6.2 | 5.5 | |||||
Total | $ | 19.8 | $ | 19.0 |
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As of | |||||||
(In millions) | September 30, 2017 | December 31, 2016 | |||||
Variable Rate Demand Revenue Bonds, principal due October 1, 2018, interest payable monthly, bearing an interest rate of 1.04% at September 30, 2017 and 0.87% December 31, 2016 | $ | 11.4 | $ | 11.4 | |||
Variable Rate Demand Revenue Bonds, principal due August 1, 2017, interest payable monthly, bearing an interest rate of 0.87% at December 31, 2016 | — | 8.6 | |||||
Former Ciner Wyoming Credit Facility, unsecured principal expiring on July 18, 2018, variable interest rate as a weighted average rate of 2.36% at December 31, 2016 | — | 78.0 | |||||
Ciner Wyoming Credit Facility, unsecured principal expiring on August 1, 2022, variable interest rate as a weighted average rate of 2.79% at September 30, 2017 | 124.5 | — | |||||
Total debt | 135.9 | 98.0 | |||||
Current portion of long-term debt | — | 8.6 | |||||
Total long-term debt | $ | 135.9 | $ | 89.4 |
(In millions) | Amount | ||
2018 | $ | 11.4 | |
2019 | — | ||
2020 | — | ||
2021 | — | ||
2022 | 124.5 | ||
Total | $ | 135.9 |
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As of | |||||||
(In millions) | September 30, 2017 | December 31, 2016 | |||||
Reclamation reserve | $ | 5.0 | $ | 5.5 | |||
Derivative instruments and hedges, fair value liabilities | 4.8 | 3.4 | |||||
Other | — | 0.1 | |||||
Total | $ | 9.8 | $ | 9.0 |
For the period ended | |||||||
(In millions) | September 30, 2017 | December 31, 2016 | |||||
Beginning reclamation reserve balance | $ | 5.5 | $ | 4.5 | |||
Accretion expense | 0.2 | 0.2 | |||||
Reclamation adjustments (1) | (0.7 | ) | 0.8 | ||||
Ending reclamation reserve balance | $ | 5.0 | $ | 5.5 |
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Nine Months Ended September 30, 2017 | Nine Months Ended September 30, 2016 | ||||||||||||
(Units in whole numbers) | Number of Units | Grant-Date Average Fair Value per Unit (1) | Number of Units | Grant-Date Average Fair Value per Unit (1) | |||||||||
Unvested at the beginning of period | 39,170 | $ | 22.50 | — | $ | — | |||||||
Granted | 80,370 | 28.41 | 39,170 | 22.50 | |||||||||
Vested | (13,055 | ) | 22.50 | — | — | ||||||||
Forfeited | (11,694 | ) | 24.90 | — | — | ||||||||
Unvested at the end of the period | 94,791 | $ | 27.22 | 39,170 | $ | 22.50 |
Nine Months Ended September 30, 2017 | Nine Months Ended September 30, 2016 | ||||||||||||
(Units in whole numbers) | Number of Units | Grant-Date Average Fair Value per Unit(1) | Number of Units | Grant-Date Average Fair Value per Unit (1) | |||||||||
Unvested at the beginning of period | 5,787 | $ | 43.93 | — | $ | — | |||||||
Granted | 48,574 | 42.76 | 5,787 | 43.93 | |||||||||
Forfeited | (1,021 | ) | 43.93 | — | — | ||||||||
Unvested at the end of the period | 53,340 | $ | 42.86 | 5,787 | $ | 43.93 |
Nine Months Ended September 30, 2017 | Nine Months Ended September 30, 2016 | ||||||||||
Unrecognized Compensation Expense (In millions) | Weighted Average to be Recognized (In years) | Unrecognized Compensation Expense (In millions) | Weighted Average to be Recognized (In years) | ||||||||
Time-based units | $ | 2.0 | 2.31 | $ | 0.6 | 1.85 | |||||
Performance-based units | 0.9 | 2.14 | 0.2 | 2.34 | |||||||
Total | $ | 2.9 | $ | 0.8 |
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(In millions) | Gains and (Losses) on Cash Flow Hedges | |||
Balance at December 31, 2016 | $ | (1.6 | ) | |
Other comprehensive loss before reclassification | (2.0 | ) | ||
Amounts reclassified from accumulated other comprehensive loss | 0.5 | |||
Net current period other comprehensive loss | (1.5 | ) | ||
Balance at September 30, 2017 | $ | (3.1 | ) |
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
(In millions) | 2017 | 2016 | 2017 | 2016 | ||||||||||||
Unrealized gain (loss) on derivatives: | ||||||||||||||||
Mark to market adjustment on interest rate swap contracts | $ | 0.1 | $ | 0.5 | $ | 0.3 | $ | (0.2 | ) | |||||||
Mark to market adjustment on natural gas forward contracts | (0.6 | ) | (1.8 | ) | (3.2 | ) | (0.7 | ) | ||||||||
Mark to market adjustment on foreign exchange forward contracts | — | — | — | — | ||||||||||||
Loss on derivative financial instruments | $ | (0.5 | ) | $ | (1.3 | ) | $ | (2.9 | ) | $ | (0.9 | ) |
Three Months Ended September 30, | Nine Months Ended September 30, | Affected Line Items on the Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income | ||||||||||||||||
(In millions) | 2017 | 2016 | 2017 | 2016 | ||||||||||||||
Details about other comprehensive loss components: | ||||||||||||||||||
Gains and losses on cash flow hedges: | ||||||||||||||||||
Interest rate swap contracts | $ | 0.1 | $ | 0.1 | $ | 0.2 | $ | 0.3 | Interest expense | |||||||||
Natural gas forward contracts | 0.1 | 0.1 | 0.3 | 0.5 | Cost of products sold | |||||||||||||
Total reclassifications for the period | $ | 0.2 | $ | 0.2 | $ | 0.5 | $ | 0.8 |
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Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
(In millions) | 2017 | 2016 | 2017 | 2016 | |||||||||||
Ciner Corp | $ | 3.6 | $ | 4.1 | $ | 10.8 | $ | 11.5 | |||||||
ANSAC (1) | 0.7 | 0.9 | 1.6 | 2.7 | |||||||||||
Total selling, general and administrative expenses - Affiliates | $ | 4.3 | $ | 5.0 | $ | 12.4 | $ | 14.2 |
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
(In millions) | 2017 | 2016 | 2017 | 2016 | |||||||||||
ANSAC | $ | 60.7 | $ | 69.9 | $ | 153.6 | $ | 199.4 | |||||||
CIDT | 13.9 | — | 70.1 | — | |||||||||||
Other | — | 2.7 | — | 8.4 | |||||||||||
Total | $ | 74.6 | $ | 72.6 | $ | 223.7 | $ | 207.8 |
As of | |||||||||||||||
September 30, 2017 | December 31, 2016 | September 30, 2017 | December 31, 2016 | ||||||||||||
(In millions) | Accounts receivable from affiliates | Due to affiliates | |||||||||||||
ANSAC | $ | 45.9 | $ | 46.5 | $ | 2.9 | $ | — | |||||||
CIDT | 49.9 | 9.0 | — | — | |||||||||||
Ciner Corp | 6.7 | 3.9 | 1.7 | 1.7 | |||||||||||
Ciner Resources Europe NV | — | 2.2 | — | — | |||||||||||
Other | — | — | — | 2.5 | |||||||||||
Total | $ | 102.5 | $ | 61.6 | $ | 4.6 | $ | 4.2 |
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Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
(In millions) | 2017 | 2016 | 2017 | 2016 | |||||||||||
Domestic | $ | 47.9 | $ | 48.4 | $ | 145.1 | $ | 144.3 | |||||||
International | |||||||||||||||
ANSAC | 60.7 | 69.9 | 153.6 | 199.4 | |||||||||||
CIDT | 13.9 | — | 70.1 | — | |||||||||||
Other | — | 2.7 | — | 8.4 | |||||||||||
Total international | 74.6 | 72.6 | 223.7 | 207.8 | |||||||||||
Total net sales | $ | 122.5 | $ | 121.0 | $ | 368.8 | $ | 352.1 |
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Assets | Liabilities | ||||||||||||||||||||||
September 30, 2017 | December 31, 2016 | September 30, 2017 | December 31, 2016 | ||||||||||||||||||||
(In millions) | Balance Sheet Location | Fair Value | Balance Sheet Location | Fair Value | Balance Sheet Location | Fair Value | Balance Sheet Location | Fair Value | |||||||||||||||
Derivatives designated as hedges: | |||||||||||||||||||||||
Interest rate swap contracts - current | $ | — | $ | — | Accrued Expenses | $ | 0.1 | Accrued Expenses | $ | 0.4 | |||||||||||||
Natural gas forward contracts - current | Other current assets | — | Other current assets | 0.6 | Accrued Expenses | 1.3 | Accrued Expenses | — | |||||||||||||||
Natural gas forward contracts - non-current | — | — | Other non-current liabilities | 4.8 | Other non-current liabilities | 3.4 | |||||||||||||||||
Total derivatives designated as hedging instruments | $ | — | $ | 0.6 | $ | 6.2 | $ | 3.8 |
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