| Revenue from Contract with Customer [Text Block] |
2. Revenues from Contracts with Customers
The following table presents the Partnership's Mineral Rights segment revenues from contracts with customers by major source:
| |
|
For the Three Months Ended March 31, |
|
| (In thousands) |
|
2026 |
|
|
2025 |
|
| Coal royalty revenues |
|
$ |
29,574 |
|
|
$ |
35,498 |
|
| Production lease minimum revenues |
|
|
558 |
|
|
|
2,725 |
|
| Minimum lease straight-line revenues |
|
|
4,019 |
|
|
|
4,050 |
|
| Oil and gas royalty revenues |
|
|
1,386 |
|
|
|
2,444 |
|
| Carbon neutral revenues |
|
|
185 |
|
|
|
595 |
|
| Property tax revenues |
|
|
1,711 |
|
|
|
1,637 |
|
| Wheelage revenues |
|
|
1,990 |
|
|
|
1,738 |
|
| Coal overriding royalty revenues |
|
|
1,386 |
|
|
|
880 |
|
| Lease amendment revenues |
|
|
1,200 |
|
|
|
655 |
|
| Aggregates royalty revenues |
|
|
1,118 |
|
|
|
853 |
|
| Other revenues |
|
|
170 |
|
|
|
185 |
|
| Royalty and other mineral rights revenues |
|
$ |
43,297 |
|
|
$ |
51,260 |
|
| Transportation and processing services revenues |
|
|
3,408 |
|
|
|
3,885 |
|
| Total Mineral Rights segment revenues from contracts with customers |
|
$ |
46,705 |
|
|
$ |
55,145 |
|
The following table details the Partnership's Mineral Rights segment contract assets and liabilities resulting from contracts with customers:
| |
|
March 31, |
|
|
December 31, |
|
| (In thousands) |
|
2026 |
|
|
2025 |
|
| Contract assets |
|
|
|
|
|
|
|
|
| Accounts receivable, net |
|
$ |
22,422 |
|
|
$ |
24,372 |
|
| Other current assets, net |
|
|
— |
|
|
|
84 |
|
| Other long-term assets, net |
|
|
7,234 |
|
|
|
5,281 |
|
| |
|
|
|
|
|
|
|
|
| Contract liabilities |
|
|
|
|
|
|
|
|
| Accounts payable |
|
$ |
125 |
|
|
$ |
211 |
|
| Current portion of deferred revenue |
|
|
7,029 |
|
|
|
6,663 |
|
| Deferred revenue |
|
|
59,136 |
|
|
|
58,067 |
|
The following table shows the activity related to the Partnership's Mineral Rights segment deferred revenue resulting from contracts with customers:
| |
|
For the Three Months Ended March 31, |
|
| (In thousands) |
|
2026 |
|
|
2025 |
|
| Balance at beginning of period (current and non-current) |
|
$ |
64,730 |
|
|
$ |
60,155 |
|
| Increase due to minimums and lease amendment fees |
|
|
10,942 |
|
|
|
5,861 |
|
| Recognition of previously deferred revenue |
|
|
(9,507 |
) |
|
|
(9,088 |
) |
| Balance at end of period (current and non-current) |
|
$ |
66,165 |
|
|
$ |
56,928 |
|
The Partnership's non-cancellable annual minimum payments due under the lease terms of its coal and aggregates royalty contracts with customers are as follows as of March 31, 2026 (in thousands):
| Lease Term (1) |
|
Weighted Average Remaining Years |
|
|
Annual Minimum Payments |
|
| 0 - 5 years |
|
|
2.1 |
|
|
$ |
13,269 |
|
| 5 - 10 years |
|
|
6.2 |
|
|
|
15,493 |
|
| 10+ years |
|
|
10.0 |
|
|
|
26,309 |
|
| Total |
|
|
7.0 |
|
|
$ |
55,071 |
|
| (1) |
Lease term does not include renewal periods. |
|