v3.26.1
Note 6 - Equity Investment
 3 Months Ended
Mar. 31, 2026
Notes to Financial Statements  
Equity Method Investments and Joint Ventures Disclosure [Text Block]

6.    Equity Investment 

 

The Partnership accounts for its 49% investment in Sisecam Wyoming using the equity method of accounting. Activity related to this investment is as follows: 

 

  

For the Three Months Ended March 31,

 

(In thousands)

 

2026

  

2025

 

Balance at beginning of period

 $250,244  $257,355 

Income (loss) allocation to NRP’s equity interests (1)

  (6,697)  5,764 

Amortization of basis difference

  (1,130)  (1,153)

Capital investment

  39,200   — 

Other comprehensive income (loss)

  (140)  2,260 

Distributions

  —   (2,940)

Balance at end of period

 $281,477  $261,286 
     
(1)Amounts reclassified into income (loss) out of accumulated other comprehensive loss were $1.6 million and $1.3 million for the three months ended March 31, 2026 and 2025, respectively.

 

During the three months ended March 31, 2026, NRP and Sisecam Wyoming's managing partner made a capital investment into Sisecam Wyoming ($39.2 million for NRP's 49%) to reduce outstanding amounts under Sisecam Wyoming's bank credit facility.

 

The following table represents summarized financial information for Sisecam Wyoming as derived from their respective unaudited financial statements for the three months ended March 31, 2026 and 2025:

 

  

For the Three Months Ended March 31,

 

(In thousands)

 

2026

  

2025

 

Net sales

 $127,335  $153,309 

Gross profit (loss)

  (4,731)  19,033 

Net income (loss)

  (13,667)  11,764