| 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 June 30, |
|
|
For the Six Months Ended June 30, |
|
| (In thousands) |
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
| Coal royalty revenues |
|
$ |
34,793 |
|
|
$ |
31,543 |
|
|
$ |
64,367 |
|
|
$ |
67,041 |
|
| Production lease minimum revenues |
|
|
251 |
|
|
|
123 |
|
|
|
809 |
|
|
|
2,848 |
|
| Minimum lease straight-line revenues |
|
|
4,019 |
|
|
|
4,050 |
|
|
|
8,038 |
|
|
|
8,100 |
|
| Oil and gas royalty revenues |
|
|
2,447 |
|
|
|
1,981 |
|
|
|
3,833 |
|
|
|
4,425 |
|
| Carbon neutral revenues |
|
|
94 |
|
|
|
290 |
|
|
|
279 |
|
|
|
885 |
|
| Property tax revenues |
|
|
1,710 |
|
|
|
1,519 |
|
|
|
3,421 |
|
|
|
3,156 |
|
| Wheelage revenues |
|
|
1,959 |
|
|
|
2,543 |
|
|
|
3,949 |
|
|
|
4,281 |
|
| Coal overriding royalty revenues |
|
|
1,040 |
|
|
|
456 |
|
|
|
2,426 |
|
|
|
1,336 |
|
| Lease amendment revenues |
|
|
1,242 |
|
|
|
656 |
|
|
|
2,442 |
|
|
|
1,311 |
|
| Aggregates royalty revenues |
|
|
1,246 |
|
|
|
906 |
|
|
|
2,364 |
|
|
|
1,759 |
|
| Other revenues |
|
|
318 |
|
|
|
228 |
|
|
|
488 |
|
|
|
413 |
|
| Royalty and other mineral rights revenues |
|
$ |
49,119 |
|
|
$ |
44,295 |
|
|
$ |
92,416 |
|
|
$ |
95,555 |
|
| Transportation and processing services revenues |
|
|
3,389 |
|
|
|
2,029 |
|
|
|
6,797 |
|
|
|
5,914 |
|
| Total Mineral Rights segment revenues from contracts with customers |
|
$ |
52,508 |
|
|
$ |
46,324 |
|
|
$ |
99,213 |
|
|
$ |
101,469 |
|
The following table details the Partnership's Mineral Rights segment contract assets and liabilities resulting from contracts with customers:
| |
|
June 30, |
|
|
December 31, |
|
| (In thousands) |
|
2026 |
|
|
2025 |
|
| Contract assets |
|
|
|
|
|
|
|
|
| Accounts receivable, net |
|
$ |
26,228 |
|
|
$ |
24,372 |
|
| Other current assets, net |
|
|
— |
|
|
|
84 |
|
| Other long-term assets, net |
|
|
7,353 |
|
|
|
5,281 |
|
| |
|
|
|
|
|
|
|
|
| Contract liabilities |
|
|
|
|
|
|
|
|
| Accounts payable |
|
$ |
125 |
|
|
$ |
211 |
|
| Current portion of deferred revenue |
|
|
6,705 |
|
|
|
6,663 |
|
| Deferred revenue |
|
|
59,744 |
|
|
|
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 Six Months Ended June 30, |
|
| (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 |
|
|
15,793 |
|
|
|
7,836 |
|
| Recognition of previously deferred revenue |
|
|
(14,074 |
) |
|
|
(12,049 |
) |
| Balance at end of period (current and non-current) |
|
$ |
66,449 |
|
|
$ |
55,942 |
|
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 June 30, 2026 (in thousands):
| Lease Term (1) |
|
Weighted Average Remaining Years |
|
|
Annual Minimum Payments |
|
| 0 - 5 years |
|
|
1.9 |
|
|
$ |
13,216 |
|
| 5 - 10 years |
|
|
6.0 |
|
|
|
15,392 |
|
| 10+ years |
|
|
9.8 |
|
|
|
26,309 |
|
| Total |
|
|
6.8 |
|
|
$ |
54,917 |
|
| (1) |
Lease term does not include renewal periods. |
|