CINER RESOURCES LP, 10-K filed on 3/11/2016
Annual Report
Document and Entity Information (USD $)
In Millions, except Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2015
Jun. 30, 2015
Mar. 7, 2016
Common Unitholders
Mar. 7, 2016
Subordinated Units
Mar. 7, 2016
General Partner
Document and Entity Information
 
 
 
 
 
Entity Registrant Name
Ciner Resources LP. 
 
 
 
 
Entity Central Index Key
0001575051 
 
 
 
 
Current Fiscal Year End Date
--12-31 
 
 
 
 
Entity Filer Category
Accelerated Filer 
 
 
 
 
Document Type
10-K 
 
 
 
 
Document Period End Date
Dec. 31, 2015 
 
 
 
 
Document Fiscal Year Focus
2015 
 
 
 
 
Document Fiscal Period Focus
FY 
 
 
 
 
Amendment Flag
false 
 
 
 
 
Entity Well-known Seasoned Issuer
No 
 
 
 
 
Entity Voluntary Filers
No 
 
 
 
 
Entity Current Reporting Status
Yes 
 
 
 
 
Entity Public Float
 
$ 122.5 
 
 
 
Entity Common Stock, Shares Outstanding
 
 
9,864,835 
9,775,500 
399,000 
CONSOLIDATED BALANCE SHEETS (USD $)
In Millions, unless otherwise specified
Dec. 31, 2015
Dec. 31, 2014
Current assets:
 
 
Cash and cash equivalents
$ 20.4 
$ 31.0 
Accounts receivable, net
33.8 
35.5 
Accounts receivable - ANSAC
52.2 
70.4 
Due from affiliates, net
11.9 
19.6 
Inventory
26.4 
22.5 
Other current assets
2.2 
1.8 
Total current assets
146.9 
180.8 
Property, plant and equipment, net
255.2 
245.0 
Other non-current assets
21.1 
21.6 
Total assets
423.2 
447.4 
Current liabilities:
 
 
Accounts payable
13.4 
13.1 
Due to affiliates
4.6 
7.1 
Accrued expenses
25.2 
29.5 
Total current liabilities
43.2 
49.7 
Long-term debt
110.0 
145.0 
Other non-current liabilities
6.8 
4.2 
Total liabilities
160.0 
198.9 
Commitments and Contingencies (See Note 14)
   
   
Equity:
 
 
General partner unitholders - Ciner GP (0.4 units issued and outstanding at December 31, 2015 and 2014, respectively)
4.0 
3.8 
Accumulated other comprehensive loss
(2.1)
(0.4)
Partners’ capital attributable to Ciner Resources LP
156.0 
147.6 
Non-controlling interests
107.2 
100.9 
Total equity
263.2 
248.5 
Total liabilities and partners’ equity
423.2 
447.4 
Common Units
 
 
Equity:
 
 
Common and subordinated unitholders
110.8 
106.3 
Subordinated Limited Partners [Member]
 
 
Equity:
 
 
Common and subordinated unitholders
$ 43.3 
$ 37.9 
CONSOLIDATED BALANCE SHEETS (Parenthetical)
Dec. 31, 2015
Dec. 31, 2014
General Partners' Capital Account, Units Issued
399,000 
399,000 
General Partners' Capital Account, Units Outstanding
399,000 
399,000 
Common Units
 
 
Common and subordinated units issued
9,831,452 
9,801,830 
Common and subordinated units outstanding
9,831,452 
9,801,830 
Subordinated Limited Partners [Member]
 
 
Common and subordinated units issued
9,775,500 
9,775,500 
Common and subordinated units outstanding
9,775,500 
9,775,500 
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (USD $)
In Millions, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Net sales:
 
 
 
Sales - Affiliates
$ 265.3 
$ 236.7 
$ 211.6 
Sales - others
221.1 
228.3 
230.5 
Total net sales
486.4 
465.0 
442.1 
Cost of products sold:
 
 
 
Cost of products sold
210.3 
201.6 
202.4 
Depreciation, depletion and amortization expense
23.7 
22.4 
23.9 
Freight costs
122.1 
123.7 
122.7 
Total cost of products sold
356.1 
347.7 
349.0 
Gross profit
130.3 
117.3 
93.1 
Operating expenses:
 
 
 
Selling, general and administrative expenses - others
4.3 
3.3 
0.7 
Selling, general and administrative expenses - Affiliates
15.7 
17.0 
12.5 
Loss on disposal of assets, net
0.2 
1.0 
Total operating expenses
20.2 
21.3 
13.2 
Operating income
110.1 
96.0 
79.9 
Other income/(expenses):
 
 
 
Interest expense
(4.0)
(5.2)
(2.9)
Other - net
0.1 
1.1 
0.7 
Total other income/(expense), net
(3.9)
(4.1)
(2.2)
Income before provision for income taxes
106.2 
91.9 
77.7 
Provision for income taxes
7.1 
Net income
106.2 
91.9 
70.6 
Net income attributable to non-controlling interest
54.7 
47.4 
44.3 
Net income attributable to Ciner Resources LP
51.5 
44.5 
26.3 
Less: Predecessor net income prior to initial public offering on September 18, 2013
13.3 
Net income attributable to Ciner Resources LP subsequent to initial public offering
51.5 
44.5 
13.0 
Other comprehensive loss:
 
 
 
Income (loss) on derivative financial instruments
(3.4)
(0.2)
Comprehensive income
102.8 
91.7 
70.6 
Comprehensive income attributable to non-controlling interest
53.0 
47.3 
44.3 
Comprehensive income attributable to Ciner Resources LP
49.8 
44.4 
26.3 
Less: Predecessor comprehensive income prior to initial public offering on September 18, 2013
13.1 
Comprehensive income attributable to Ciner Resources LP subsequent to initial public offering
$ 49.8 
$ 44.4 
$ 13.2 
Common unit
 
 
 
Other comprehensive loss:
 
 
 
Net income per common and subordinated limited partner unit subsequent to initial public offering (basic and diluted) (dollars per share)
$ 2.58 
$ 2.23 
$ 0.65 
Weighted average common and subordinated units outstanding (basic and diluted) (shares)
9.8 
9.8 
9.8 
Subordinated Limited Partners [Member]
 
 
 
Other comprehensive loss:
 
 
 
Net income per common and subordinated limited partner unit subsequent to initial public offering (basic and diluted) (dollars per share)
$ 2.58 
$ 2.23 
$ 0.65 
Weighted average common and subordinated units outstanding (basic and diluted) (shares)
9.8 
9.8 
9.8 
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Cash flows from operating activities:
 
 
 
Net income
$ 106.2 
$ 91.9 
$ 70.6 
Adjustments to reconcile net income to net cash provided by operating activities:
 
 
 
Depreciation, depletion and amortization expense
24.1 
22.8 
23.9 
Loss on disposal of assets, net
0.2 
1.0 
Equity-based compensation expense
1.1 
0.4 
Deferred income taxes
0.3 
Other non-cash items
0.8 
(0.2)
Changes in operating assets and liabilities:
 
 
 
Accounts receivable - net
1.7 
(1.1)
0.8 
Accounts receivable - ANSAC
18.2 
(12.3)
(4.2)
Inventory
(3.7)
(1.5)
Other current and other non-current assets
(0.9)
(2.0)
Due from affiliates, net
7.7 
0.8 
5.5 
Increase/(decrease) in:
 
 
 
Accounts payable
1.8 
(3.5)
0.1 
Due to affiliates
(1.1)
4.8 
5.6 
Accrued expenses and other liabilities
(5.9)
3.0 
(0.3)
Net cash provided by operating activities
150.2 
106.1 
100.3 
Cash flows from investing activities:
 
 
 
Capital expenditures
(35.7)
(27.2)
(16.2)
Net cash used in investing activities
(35.7)
(27.2)
(16.2)
Cash flows from financing activities:
 
 
 
Proceeds from issuance of common units, net of offering costs
83.3 
Distribution of IPO proceeds to Predecessor and its affiliate
(83.3)
Proceeds from issuance of revolving credit facility
135.0 
Borrowings on revolving credit facility
5.0 
Repayments on revolving credit facility
(40.0)
(10.0)
(32.0)
Distributions
(90.1)
(84.8)
 
Distributions to Predecessor
(72.9)
Distributions to non-controlling interest
(46.8)
(43.0)
(90.0)
Net cash used in financing activities
(125.1)
(94.8)
(59.9)
Net (decrease)/increase in cash and cash equivalents
(10.6)
(15.9)
24.2 
Cash and cash equivalents at beginning of year
31.0 
46.9 
22.7 
Cash and cash equivalents at end of year
20.4 
31.0 
46.9 
Supplemental disclosure of cash flow information:
 
 
 
Interest paid during the year
4.1 
4.3 
2.3 
Supplemental disclosure of non-cash operating activities:
 
 
 
Predecessor net liabilities not assumed by the Partnership
61.5 
Supplemental disclosure of non-cash investing activities:
 
 
 
Capital expenditures on account
3.0 
4.6 
0.8 
Common Units
 
 
 
Cash flows from financing activities:
 
 
 
Distributions
(21.2)
(20.5)
Subordinated Limited Partners [Member]
 
 
 
Cash flows from financing activities:
 
 
 
Distributions
(21.2)
(20.5)
General Partner
 
 
 
Cash flows from financing activities:
 
 
 
Distributions
$ (0.9)
$ (0.8)
$ 0 
CONSOLIDATED STATEMENTS OF EQUITY (USD $)
In Millions, unless otherwise specified
Total
Common Units
Subordinated Limited Partners [Member]
General Partner
Predecessor
Partnership units
Common Units
Partnership units
Subordinated Limited Partners [Member]
Partnership units
General Partner
Accumulated Other Comprehensive Loss
Partners' Capital Attributable to CINR and Predecessor's Net Equity
Noncontrolling Interests
BALANCE, beginning of period at Dec. 31, 2012
$ 272.3 
 
 
 
$ 130.0 
$ 0 
$ 0 
$ 0 
$ (0.2)
$ 129.8 
$ 142.5 
Increase (decrease) in shareholders' equity
 
 
 
 
 
 
 
 
 
 
 
Net income
44.1 
 
 
 
13.3 
 
 
 
13.3 
30.8 
Distributions
(162.9)
 
 
 
(72.9)
 
 
 
 
(72.9)
(90.0)
BALANCE, end of period at Sep. 18, 2013
153.5 
 
 
 
70.4 
 
 
 
(0.2)
70.2 
83.3 
BALANCE, beginning of period at Dec. 31, 2012
272.3 
 
 
 
 
 
 
 
Increase (decrease) in shareholders' equity
 
 
 
 
 
 
 
 
 
 
 
Net income
70.6 
 
 
 
 
 
 
 
 
 
 
Distributions
 
 
 
 
 
 
 
 
BALANCE, end of period at Dec. 31, 2013
241.3 
 
 
 
 
 
 
 
 
 
 
BALANCE, beginning of period at Sep. 18, 2013
153.5 
 
 
 
70.4 
(0.2)
70.2 
83.3 
Increase (decrease) in shareholders' equity
 
 
 
 
 
 
 
 
 
 
 
Net liabilities not assumed by the Partnership
61.3 
 
 
 
61.5 
 
 
 
(0.1)
61.4 
(0.1)
Allocation of net Predecessor investment to unitholders
 
 
 
(131.9)
42.2 
86.2 
3.5 
 
 
 
Net income
26.5 
 
 
 
 
6.3 
6.4 
0.3 
 
13.0 
13.5 
Proceeds from initial public offering, net
83.3 
 
 
 
 
83.3 
 
 
 
83.3 
 
Distribution of IPO proceeds to Predecessor and its affiliate
(83.3)
 
 
 
 
(27.3)
(56.0)
 
 
(83.3)
 
BALANCE, end of period at Dec. 31, 2013
241.3 
 
 
 
104.5 
36.6 
3.8 
(0.3)
144.6 
96.7 
Increase (decrease) in shareholders' equity
 
 
 
 
 
 
 
 
 
 
 
Net income
91.9 
 
 
 
 
21.9 
21.8 
0.8 
 
44.5 
47.4 
Other comprehensive income/(loss)
(0.2)
 
 
 
 
 
 
 
(0.1)
(0.1)
(0.1)
Equity-based compensation plan activity
0.4 
 
 
 
 
0.4 
 
 
 
0.4 
 
Distributions
(84.8)
(20.5)
(20.5)
(0.8)
 
(20.5)
(20.5)
(0.8)
 
(41.8)
(43.0)
BALANCE, end of period at Dec. 31, 2014
248.5 
 
 
 
106.3 
37.9 
3.8 
(0.4)
147.6 
100.9 
Increase (decrease) in shareholders' equity
 
 
 
 
 
 
 
 
 
 
 
Net income
106.2 
 
 
 
 
25.3 
25.2 
1.0 
 
51.5 
54.7 
Other comprehensive income/(loss)
(3.4)
 
 
 
 
 
 
 
(1.7)
(1.7)
(1.7)
Equity-based compensation plan activity
0.5 
 
 
 
 
0.5 
 
 
 
0.5 
 
Distributions
(90.1)
(21.2)
(21.2)
(0.9)
 
(21.2)
(21.2)
(0.9)
 
(43.3)
(46.8)
Non-cash contribution from parent
1.3 
 
 
 
 
 
1.3 
 
 
1.3 
 
BALANCE, end of period at Dec. 31, 2015
$ 263.2 
 
 
 
$ 0 
$ 110.8 
$ 43.3 
$ 4.0 
$ (2.1)
$ 156.0 
$ 107.2 
GENERAL
GENERAL
GENERAL
Nature of Operations
As used in this Report, the terms “Ciner Resources LP,” “the “Partnership,” “CINR,” “we,” “us,” or “our” may refer to Ciner Resources LP, formerly OCI Resources LP, a publicly traded Delaware limited partnership formed in April 2013 by Ciner Wyoming Holding Co. (“Ciner Holdings” or ), formerly OCI Wyoming Holding Co. Ciner Holdings, a wholly-owned subsidiary of Ciner Resources Corporation (“Ciner Corp”), formerly OCI Chemical Corporation, wholly-owns Ciner Resource Partners LLC (our “general partner” or “Ciner GP”), formerly OCI Resource Partners LLC. Ciner Corp is a direct wholly-owned subsidiary of Ciner Enterprises Inc. (“Ciner Enterprises”), which is directly owned by Akkan Enerji ve Madencilik Anonim Şirketi (“Akkan”), which in turn is directly wholly-owned by Turgay Ciner, the Chairman of the Ciner Group, a Turkish conglomerate of companies engaged in energy and mining (including soda ash mining), media and shipping markets. Ciner Wyoming LLC (“Ciner Wyoming”), formerly OCI Wyoming LLC, is in the business of mining trona ore to produce soda ash, and a majority-owned subsidiary of the Partnership. The Partnership’s operations consist solely of its investment in Ciner Wyoming. The Partnership owns a controlling interest comprised of 51.0% membership interest in Ciner Wyoming. All our soda ash processed is sold to various domestic and European customers, and to American Natural Soda Ash Corporation (“ANSAC”) which is an affiliate for export sales. All mining and processing activities take place in one facility located in the Green River Basin of Wyoming.
NRP Trona LLC, a wholly owned subsidiary of Natural Resource Partners LP (“NRP”), currently owns a 49.0% membership interest in Ciner Wyoming.
Completed Sale Transaction

On October 23, 2015, Ciner Enterprises acquired 100% of OCI Chemical Corporation in a stock purchase transaction from OCI Enterprises Inc. (“OCI Enterprises”) (the “Transaction”). OCI Chemical Corporation was subsequently renamed Ciner Resources Corporation. Ciner Corp owns indirectly the Partnership, through Ciner Holdings’, approximately 73% limited partner interest, and approximately 2% general partner interest and 100% of the related incentive distribution rights currently held by our general partner. As a result of the closing of the Transaction, OCI Enterprises no longer has any direct or indirect ownership interest in the Partnership or our general partner.

In connection with the closing of the Transaction, Ciner Enterprises (as borrower), and Ciner Holdings and Ciner Corp (as guarantors), entered into a credit agreement (as amended and restated or otherwise modified, the “Ciner Enterprises Credit Agreement”), which expires on October 23, 2025 and is secured by certain assets, including the common units and the subordinated units of the Partnership owned by Ciner Holdings.

On November 5, 2015, in connection with the closing of the Transaction, the Partnership changed its name from OCI Resources LP to Ciner Resources LP.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation and Significant Accounting Policies
The accompanying consolidated financial statements of the Partnership and its subsidiary have been prepared in conformity with U.S. generally accepted accounting principles 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 significant intercompany transactions, balances, revenue and expenses have been eliminated in consolidation. The year ended December 31, 2013, includes the combined results of Ciner Holdings and its subsidiary (the "Predecessor") through September 17, 2013 and the Partnership for the period from September 18, 2013 through December 31, 2013 and unless otherwise noted, financial information for our Predecessor and the Partnership is presented before non-controlling interest.
Non-Controlling Interests
In connection with the conversion of Ciner Wyoming from a Delaware limited partnership (“LP”) to a Delaware limited liability company (“LLC”), in June 2014, NRP’s general partner interest and limited partnership interest were converted into a single-class of membership interests in Ciner Wyoming, which currently consists of 49.0% membership interest in Ciner Wyoming. Prior to the completion of the initial public offering (“IPO”) and the restructuring transaction completed in connection therewith (the “Restructuring”), non-controlling interests in the consolidated financial statements of our Predecessor represented the 1.0% limited partner interest in Ciner Wyoming owned by OCI Wyoming Co. (‘”Wyoming Co.”) and the 48.51% general partner interest in Ciner Wyoming owned by NRP. Subsequent to the Restructuring and IPO, but prior to the conversion of Ciner Wyoming from a Delaware LP to a Delaware LLC, non-controlling interests in the consolidated financial statements of the Partnership consisted of 39.37% general partner interest and 9.63% limited partner interest in Ciner Wyoming owned by NRP.
Use of Estimates
The preparation of consolidated financial statements, in accordance with accounting principles generally accepted in the United States of America, 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 consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Revenue Recognition
We recognize revenue when the earnings process is complete, which is generally upon transfer of title. This transfer typically occurs upon shipment to the customer, which is normally free on board (“FOB”) terms or upon receipt by the customer. In all cases, we apply the following criteria in recognizing revenue: (1) persuasive evidence of an arrangement exists; (2) delivery has occurred; (3) the selling price is fixed, determinable or reasonably estimated sales price has been agreed with the customer; and (4) collectability is reasonably assured.  Customer rebates are accounted for as sales deductions. We record amounts billed for shipping and handling fees as revenue. Costs incurred for shipping and handling are recorded as costs of products sold.
Freight Costs
The Partnership includes freight costs billed to customers for shipments administered by the Partnership in gross sales. The related freight costs along with cost of products sold are deducted from gross sales to determine gross profit.
Cash and Cash Equivalents
The Partnership considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. Cash equivalents consist primarily of money market deposit accounts.
Accounts Receivable
Accounts receivable are carried at the original invoice amount less an estimate for doubtful receivables. We generally do not require collateral against outstanding accounts receivable.The allowance for doubtful accounts is based on specifically identified amounts that the Partnership believes to be uncollectible. An additional allowance is recorded based on certain percentages of aged receivables, which are determined based on management’s assessment of the general financial conditions affecting the Partnership’s customer base. If actual collection experience changes, revisions to the allowance may be required. Accounts receivable are written off when deemed uncollectible. Recoveries of accounts receivable previously written off are recorded when received. During the years ended 2015, 2014 and 2013, there were no significant accounts receivable bad debt expenses, write-offs or recoveries.
Inventory
Inventory is carried at the lower of cost or market. Cost is determined using the first-in, first-out method for raw material and finished goods inventory and the weighted average cost method for stores inventory. Costs include raw materials, direct labor and manufacturing overhead. Market is based on current replacement cost for raw materials and stores inventory, and finished goods is based on net realizable value.
Raw material inventory includes material, chemicals and natural resources being used in the mining and refining process.
Finished goods inventory is the finished product soda ash.
Stores inventory includes parts, materials and operating supplies which are typically consumed in the production of soda ash and currently available for future use.
Property, Plant, and Equipment
Property, plant, and equipment are stated at cost less accumulated depreciation. Depreciation is computed over the estimated useful lives of depreciable assets, principally using the straight-line method. The estimated useful lives applied to depreciable assets are as follows:
 
 
Useful Lives
Land improvements
 
10 years
Depletable land
 
15-60 years
Buildings and building improvements
 
10-30 years
Internal-use computer software
 
3-5 years
Machinery and equipment
 
5-20 years
Furniture and fixtures
 
10 years
The Partnership’s policy is to evaluate property, plant, and equipment for impairment whenever events or changes in circumstances indicate that its carrying amount may not be recoverable. An indicator of potential impairment would include situations when the estimated future undiscounted cash flows are less than the carrying value. The amount of any impairment then recognized would be calculated as the difference between estimated fair value and the carrying value of the asset.
Derivative Instruments and Hedging Activities
The Partnership may enter into derivative contracts from time to time to manage exposure to the risk of exchange rate changes on its foreign currency transactions, the risk of changes in natural gas prices, and the risk of the variability in interest rates on borrowings. Gains and losses on derivative contracts qualifying for hedge accounting are reported as a component of the underlying transactions. The Partnership follows hedge accounting for its hedging activities. All derivative instruments are recorded on the balance sheet at their fair values. The accounting for changes in the fair value of a derivative depends on the intended use of the derivative and the resulting designation. The Partnership designates its derivatives based upon criteria established for hedge accounting under generally accepted accounting principles. For a derivative designated as a fair value hedge, the gain or loss is recognized in earnings in the period of change together with the offsetting gain or loss on the hedged item attributed to the risk being hedged. For a derivative designated as a cash flow hedge, the effective portion of the derivative’s gain or loss is initially reported as a component of accumulated other comprehensive income (loss) and subsequently reclassified into earnings when the hedged exposure affects earnings. Any significant ineffective portion of the gain or loss is reported in earnings immediately. For derivatives not designated as hedges, the gain or loss is reported in earnings in the period of change. The natural gas physical forward contracts are accounted for under the normal purchases and normal sales scope exception.
Income Tax
We are organized as a pass-through entity for federal income tax purposes. As a result, our partners are responsible for federal income taxes based on their respective share of taxable income. Net income for financial statement purposes may differ significantly from taxable income reportable to unitholders as a result of differences between the tax basis and financial reporting basis of assets and liabilities and the taxable income allocation requirements under the partnership agreement.
The Partnership is a limited partnership and generally is not subject to federal or certain state income taxes. For the year ended December 31, 2013, included in income tax expense is the expense of our Predecessor through September 17, 2013. The Predecessor was subject to income tax and was included in the consolidated income tax returns of OCI Enterprises and income taxes were allocated to the Predecessor based on separate company computations of income or loss.
Technical Termination of the Partnership for U.S. Federal Income Tax Purposes
As noted above in Item 1A, Risk Factors, because we are treated as a partnership for U.S. federal income tax purposes, a sale or exchange of 50% or more of the total interests in our capital and profits interests within a twelve-month period will result in a technical termination. The closing of the Transaction on October 23, 2015 resulted in the technical termination of the Partnership, which also resulted in a technical termination of Ciner Wyoming, for U.S. federal income tax purposes on the date of the Transaction.
The technical termination does not affect our consolidated financial statements nor does it affect our classification or Ciner Wyoming’s classification as a partnership or otherwise affect the nature or extent of our “qualifying income” for U.S. federal income tax purposes. Our taxable year for all unitholders ended on October 23, 2015 and resulted in a deferral of depreciation deductions that were otherwise allowable in computing the taxable income of our unitholders. This deferral of depreciation deductions may result in increased taxable income (or reduced taxable loss) to certain of our unitholders in 2015. We do not expect the deferral of depreciation deductions to have a material adverse impact on our public common unitholders. In the case of a unitholder reporting on a taxable year other than the calendar year, the closing of our taxable year may also result in more than twelve months of our taxable income or loss being includable in the unitholder’s taxable income for the year of termination. The IRS has announced a relief procedure whereby if a publicly-traded partnership that has technically terminated requests and the IRS grants special relief, among other things, the partnership may be permitted to provide only a single Schedule K-1 to unitholders for the two tax periods included in the year in which the termination occurs. We have made this request to the IRS.
Reclamation Costs
The Partnership is obligated to return the land beneath its refinery and tailings ponds to its natural condition upon completion of operations and is required to return the land beneath its rail yard to its natural condition upon termination of the various lease agreements.
The Partnership accounts for its land reclamation liability as an asset retirement obligation, which requires that obligations associated with the retirement of a tangible long-lived asset be recorded as a liability when those obligations are incurred, with the amount of the liability initially measured at fair value. Upon initially recognizing a liability for an asset retirement obligation, an entity must capitalize the cost by recognizing an increase in the carrying amount of the related long-lived asset. Over time, the liability is accreted to its present value each period, and the capitalized cost is depreciated over the estimated useful life of the related asset. Upon settlement of the liability, an entity either settles the obligation for its recorded amount or incurs a gain or loss upon settlement.
The estimated original liability calculated in 1996 for the refinery and tailing ponds was calculated based on the estimated useful life of the mine, which was 80 years, and on external and internal estimates as to the cost to restore the land in the future and state regulatory requirements. In 2016, the mining reserve will be amortized over a remaining life of 67 years. During 2015, 2014 and 2013, the remaining life was 68, 66 and 67 years, respectively. The liability was discounted using a weighted average credit-adjusted risk-free rates of approximately 6% and is being accreted throughout the estimated life of the related assets to equal the total estimated costs with a corresponding entry being recorded to cost of products sold.
During 2011, the Partnership constructed a rail yard to facilitate loading and switching of rail cars. The Partnership is required to restore the land on which the rail yard is constructed to its natural conditions. The estimated liability for restoring the rail yard to its natural condition is calculated based on the land lease life of 30 years and on external and internal estimates as to the cost to restore the land in the future. The liability is discounted using a credit-adjusted risk-free rate of 4.25% and is being accreted throughout the estimated life of the related assets to equal the total estimated costs with a corresponding entry being recorded to cost of products sold.
Fair Value of Financial Instruments
Fair value is determined using a valuation hierarchy, generally by reference to an active trading market, quoted market prices or model-derived valuations for the same or similar financial instruments. See Note 17, “Fair Value Measurements,” for more information.
Equity-Based Compensation
We recognize compensation expense related to equity-based awards, with service conditions, granted to employees based on the estimated fair value of the awards on the date of grant, net of estimated forfeitures. The grant date fair value of the equity-based awards is generally recognized on a straight-line basis over the requisite service period, which is generally the vesting period of the respective awards. Equity-based awards with market conditions are fair valued using a Monte Carlo Simulation model. See Note 11, “Equity-Based Compensation - TR Performance Unit Awards,” for additional information.
Subsequent Events
We have evaluated subsequent events through the filing of this Annual Report on Form 10-K.
Recently Issued Accounting Pronouncements
In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606) that requires companies to recognize revenue when a customer obtains control rather than when companies have transferred substantially all risks and rewards of a good or service. In August 2015, the amendments in ASU 2015-14 defer the effective date of ASU 2014-09 for all entities by one year. Public business entities, certain not-for-profit entities, and certain employee benefit plans should apply the guidance in ASU 2014-09 to annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. Earlier application permitted only as of annual reporting period beginning after December 15, 2016, including interim reporting periods therein.We are currently assessing the impact the adoption of ASU No. 2014-09 will have on our consolidated financial statements, as well as the available transition methods.
In July 2015, the FASB issued ASU No. 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory. ASU 2015-11 requires that inventory within the scope of this update be measured at the lower of cost and net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. The amendments in this update do not apply to inventory that is measured using last-in, first-out (LIFO) or the retail inventory method. The amendments apply to all other inventory, which includes inventory that is measured using first-in, first-out (FIFO) or average cost. For public business entities, the amendments in this update are effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. Earlier application is permitted by all entities as of the beginning of an interim or annual reporting period. The amendments should be applied prospectively. We do not expect the adoption of ASU No. 2015-11 to have a material impact upon our financial condition or results of operations.
In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities (ASU 2016-01). The standard amends certain aspects of recognition, measurement, presentation, and disclosure of financial assets and liabilities. ASU 2016-01 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2017. We are currently evaluating the potential impact the adoption of ASU No. 2016-01 will have on our consolidated financial statements, as well as available transition methods.
In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). The update amends existing standards for accounting for leases by lessees, with accounting for leases by lessors remaining largely unchanged from current guidance. The update requires that lessees recognize a lease liability and a right of use asset for all leases (with the exception of short-term leases) at the commencement date of the lease and disclose key information about leasing arrangements. The update is effective for interim and annual periods beginning after December 15, 2018 and must be adopted using a modified retrospective transition. The ASU No. 2016-02 provides for certain practical expedients and early adoption is permitted. The Partnership is evaluating the potential impact the adoption of ASU No. 2016-02 will have on its consolidated financial statements.
NET INCOME PER UNIT AND CASH DISTRIBUTION
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 (including subordinated unitholders) is computed by dividing limited partners’ interest in net income attributable to Ciner Corp, after deducting the general partner’s interest and any incentive distributions, by the weighted average number of outstanding common and subordinated 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.
In addition to the common and subordinated units, we have also identified the general partner interest and incentive distribution rights (“IDRs”) as participating securities and use the two-class method when calculating the net income per unit applicable to limited partners, which is based on the weighted-average number of common units outstanding during the period. Basic and diluted net income per unit applicable to limited partners for the years ended December 31, 2015 and 2014 are the same because our dilutive and anti-dilutive units outstanding were immaterial for those periods and we had no potentially dilutive units for the year ended December 31, 2013.

The net income attributable to common and subordinated unitholders and the weighted average units for calculating basic and diluted net income per common and subordinated units were as follows:
 
 
Years Ended 
 December 31,
(In millions, except per unit data)
 
2015
 
2014
 
2013
 
 
 
 
 
 
 
Net income attributable to Ciner Resources LP (1)
 
$
51.5

 
$
44.5

 
$
13.0

Less: General partner’s interest in net income
 
1.0

 
0.8

 
0.2

Limited partners’ interest in net income
 
$
50.5

 
$
43.7

 
$
12.8

 
 
 
 
 
 
 
Weighted average limited partner units outstanding:
 
 
 
 
 
 
Common - Public and Ciner Holdings (basic and diluted)
 
9.8
 
9.8
 
9.8
Subordinated - Ciner Holdings (basic and diluted)
 
9.8
 
9.8
 
9.8
Total weighted average limited partner units outstanding
 
19.6

 
19.6

 
19.6

 
 
 
 
 
 
 
Net income per limited partner unit (1):
 
 
 
 
 
 
Common - Public and Ciner Holdings (basic and diluted)
 
$
2.58

 
$
2.23

 
$
0.65

Subordinated - Ciner Holdings (basic and diluted)
 
$
2.58

 
$
2.23

 
$
0.65


 
(1) Net income attributable to Ciner Resources LP and net income per limited partner unit, for year ended December 31, 2013, is subsequent to initial public offering.

The calculation of limited partners’ interest in net income is as follows:
 
Years Ended 
 December 31,
(In millions, except per unit data)
2015
 
2014
 
2013
Net income attributable to common unitholders(2):
 
 
 
 
 
    Distributions (1)
$
21.5

 
$
20.2

 
$
5.6

    Undistributed earnings
3.8

 
1.7

 
0.8

Common unitholders’ interest in net income(2)
$
25.3

 
$
21.9

 
$
6.4

 
 
 
 
 
 
Net income attributable to subordinated unitholders(2):
 
 
 
 
 
    Distributions (1)
$
21.4

 
$
20.1

 
$
5.6

    Undistributed earnings
3.8

 
1.7

 
0.8

Subordinated unitholders’ interest in net income(2)
$
25.2

 
$
21.8

 
$
6.4

 
 
 
 
 
 
(1) Distributions declared for the year
2.19

 
2.06

 
0.57

(2) Net income and interest attributable to common and subordinated unitholders, for year ended December 31, 2013, is subsequent to initial public offering.

Quarterly Distribution
On January 14, 2016, the Partnership declared its fourth quarter 2015 quarterly distribution. The quarterly cash distribution of $0.5575 per unit was paid on February 12, 2016 to unitholders of record on January 29, 2016.
Our general partner has considerable discretion in determining the amount of available cash, the amount of distributions and the decision 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, at the minimum quarterly distribution level or at any other rate, and we have no legal obligation to do so. However, our partnership agreement does contain provisions intended to motivate our general partner to make steady, increasing and sustainable distributions over time.
Distributions from Operating Surplus During the Subordination Period
If we make a distribution from operating surplus for any quarter during the subordination period (beginning on September 18, 2013 and expiring on the first business day after the distribution to unitholders in respect of any quarter, beginning with the quarter ending September 30, 2016), our partnership agreement requires that we make the distribution in the following manner:
first, 98.0% to the common unitholders, pro rata, and 2.0% to our general partner, until we distribute for each common unit an amount equal to the minimum quarterly distribution for that quarter;
second, 98.0% to the common unitholders, pro rata, and 2.0% to our general partner, until we distribute for each outstanding common unit an amount equal to any arrearages in the payment of the minimum quarterly distribution on the common units with respect to any prior quarters;
third, 98.0% to the subordinated unitholders, pro rata, and 2.0% to our general partner, until we distribute for each subordinated unit an amount equal to the minimum quarterly distribution for that quarter; and
thereafter, in the manner described in - “General Partner Interest and Incentive Distribution Rights” below.
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 (1) the issuance of common units upon conversion of outstanding subordinated units or (2) 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 the minimum quarterly distribution and the target distribution levels. 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." The percentage interests shown for our unitholders and our general partner for the minimum quarterly distribution also apply to quarterly distribution amounts that are less than the minimum quarterly distribution. 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 incentive distribution rights and (4) assume there are no arrearages on common units.
 
 
 
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
%
ACCOUNTS RECEIVABLE, NET
ACCOUNTS RECEIVABLE, NET
ACCOUNTS RECEIVABLE, NET
Accounts receivable, net consisted of the following as of December 31:
(In millions)
2015
 
2014
Trade receivables
$
27.2

 
$
24.7

Other receivables
6.8

 
10.9

 
34.0

 
35.6

Allowance for doubtful accounts
(0.2
)
 
(0.1
)
Total
$
33.8

 
$
35.5

INVENTORY
INVENTORY
INVENTORY
Inventory consisted of the following as of December 31:
(In millions)
2015
 
2014
Raw materials
$
9.1

 
$
6.4

Finished goods
10.7

 
10.4

Stores inventory
27.1

 
26.4

Total
$
46.9

 
$
43.2

Less: Stores inventory reclassed to other non-current assets
$
(20.5
)
 
$
(20.7
)
Inventory - current
$
26.4

 
$
22.5


Subsequent to the issuance of the Partnership’s consolidated financial statements for the year ended December 31, 2014, the Partnership identified a balance sheet misclassification relating to the portion of stores inventory that is not reasonably expected to be used during the year. That amount was presented as a component of inventory (a current asset) rather than as a non-current asset in the December 31, 2014 balance sheet. The correction of this error resulted in a decrease of current assets and inventory and a corresponding increase in other non-current assets of $20.7 million. The result of this correction did not impact the Partnership’s consolidated statements of operations and comprehensive income, equity, and cash flows for any period presented. Management does not believe this misstatement is individually or collectively material to the consolidated financial statements.
PROPERTY, PLANT AND EQUIPMENT, NET (Notes)
PROPERTY, PLANT AND EQUIPMENT, NET
 PROPERTY, PLANT, AND EQUIPMENT, NET
Property, plant, and equipment, net consisted of the following as of December 31:
(In millions)
2015
 
2014
Land and land improvements
$
0.3

 
$
0.3

Depletable land
3.0

 
3.0

Buildings and building improvements
132.5

 
129.5

Internal-use computer software
4.9

 
4.5

Machinery and equipment
605.7

 
595.5

Mining reserves
65.3

 
65.3

Total
811.7

 
798.1

Less accumulated depreciation, depletion and amortization
(598.6
)
 
(586.2
)
Total net book value
213.1

 
211.9

Construction in progress
42.1

 
33.1

Total property, plant, and equipment, net
$
255.2

 
$
245.0


Depreciation, depletion and amortization expense on property, plant, and equipment was $23.7 million, $22.4 million and $23.9 million for the years ended December 31, 2015, 2014 and 2013, respectively.
ACCRUED EXPENSES
ACCRUED EXPENSES
ACCRUED EXPENSES
Accrued expenses consisted of the following as of December 31:
(In millions)
2015
 
2014
Accrued freight costs
$
0.1

 
$
1.4

Accrued energy costs
5.2

 
5.7

Accrued royalty costs
4.8

 
4.4

Accrued employee compensation
4.0

 
6.8

Accrued other taxes
4.6

 
4.7

Accrued derivatives
1.8

 
0.7

Other accruals
4.7

 
5.8

Total
$
25.2

 
$
29.5

DEBT
DEBT
DEBT

Long-term debt consisted of the following as of December 31:
(In millions)
2015
 
2014
Variable Rate Demand Revenue Bonds, principal due October 1, 2018, interest payable monthly, bearing monthly interest rate of 0.11% (2015) and 0.14% (2014)
$
11.4

 
$
11.4

Variable Rate Demand Revenue Bonds, principal due August 1, 2017, interest payable monthly, bearing monthly interest rate of 0.11% (2015) and 0.14% (2014)
8.6

 
8.6

Ciner Wyoming Credit Facility, unsecured principal expiring on July 18, 2018, variable interest rate as a weighted average rate of 2.07% (2015) and 1.98% (2014)
90.0

 
125.0

Total debt
110.0

 
$
145.0

Current portion of long-term debt

 

Total long-term debt
$
110.0

 
$
145.0



Aggregate maturities required on long-term debt at December 31, 2015 are due in future years as follows:
 
Amount
2017
8.6

2018
101.4

Total
$
110.0


Demand Revenue Bonds
The Variable Rate Demand Revenue Bonds are held by Ciner Wyoming. These revenue bonds require the Partnership to maintain standby letters of credit totaling $20.3 million at December 31, 2015 and December 31, 2014, respectively. These letters of credit require compliance with certain covenants, including minimum net worth, maximum debt to net worth, and interest coverage ratios. As of December 31, 2015 and December 31, 2014, Ciner Wyoming was in compliance with these debt covenants.
Ciner Wyoming Credit Facility
On July 18, 2013, Ciner Wyoming entered into a $190.0 million senior unsecured revolving credit facility, as amended on October 30, 2014 (as amended, the “Ciner Wyoming Credit Facility”), with a syndicate of lenders, which will mature on the fifth anniversary of the closing date of such credit facility. The Ciner Wyoming Credit Facility provides for revolving loans to fund working capital requirements, capital expenditures, to consummate permitted acquisitions and for all other lawful partnership purposes. The Ciner Wyoming Credit Facility has an accordion feature that allows Ciner Wyoming to increase the available revolving borrowings under the facility by up to an additional $75.0 million, subject to Ciner Wyoming receiving increased commitments from existing lenders or new commitments from new lenders and the satisfaction of certain other conditions. In addition, the Ciner Wyoming Credit Facility includes a sublimit up to $20.0 million for same-day swing line advances and a sublimit up to $40.0 million for letters of credit. Ciner Wyoming’s obligations under the Ciner Wyoming Credit Facility are unsecured.
The Ciner Wyoming Credit Facility contains various covenants and restrictive provisions that limit (subject to certain exceptions) Ciner Wyoming’s ability to:
make distributions on or redeem or repurchase units;
incur or guarantee additional debt;
make certain investments and acquisitions;
incur certain liens or permit them to exist;
enter into certain types of transactions with affiliates of Ciner Wyoming;
merge or consolidate with another company; and
transfer, sell or otherwise dispose of assets.
The Ciner Wyoming Credit Facility also requires quarterly maintenance of a consolidated leverage ratio (as defined in the Ciner Wyoming Credit Facility) of not more than 3.00 to 1.00 and a consolidated fixed charge coverage ratio (as defined in the Ciner Wyoming Credit Facility) of not less than 1.10 to 1.00 for the 2015 fiscal year and not less than 1.15 to 1.00 thereafter. The Ciner Wyoming Credit Facility also requires that consolidated capital expenditures, as defined in the Ciner Wyoming Credit Facility, not exceed $50 million in any fiscal year.
In addition, the Ciner Wyoming Credit Facility contains events of default customary for transactions of this nature, including (i) failure to make payments required under the Ciner Wyoming Credit Facility, (ii) events of default resulting from failure to comply with covenants and financial ratios in the Ciner Wyoming Credit Facility, (iii) the occurrence of a change of control, (iv) the institution of insolvency or similar proceedings against Ciner Wyoming and (v) the occurrence of a default under any other material indebtedness Ciner Wyoming may have. Upon the occurrence and during the continuation of an event of default, subject to the terms and conditions of the Ciner Wyoming Credit Facility, the lenders may terminate all outstanding commitments under the Ciner Wyoming Credit Facility and may declare any outstanding principal of the Ciner Wyoming Credit Facility debt, together with accrued and unpaid interest, to be immediately due and payable.
Under the Ciner Wyoming Credit Facility, a change of control is triggered if Ciner Corp and its wholly-owned subsidiaries, directly or indirectly, cease to own all of the equity interests, or cease to have the ability to elect a majority of the board of directors (or similar governing body) of Ciner GP (or any entity that performs the functions of our general partner). In addition, a change of control would be triggered if we cease to own at least 50.1% of the economic interests in Ciner Wyoming or cease to have the ability to elect a majority of the members of Ciner Wyoming’s board of managers.
Ciner Wyoming was in compliance with all covenants and restrictions under its long-term debt agreements as of December 31, 2015.
Loans under the Ciner Wyoming Credit Facility bear interest at Ciner Wyoming’s option at either:
a Base Rate, which equals the highest of (i) the federal funds rate in effect on such day plus 0.50%, (ii) the administrative agent’s prime rate in effect on such day and (iii) one-month LIBOR plus 1.0%, in each case, plus an applicable margin; or
a LIBOR Rate plus an applicable margin.
The unused portion of the Ciner Wyoming Credit Facility is subject to an unused line fee ranging from 0.275% to 0.350% per annum based on Ciner Wyoming’s then current consolidated leverage ratio.
Revolving Credit Facility
On July 18, 2013, we entered into a $10.0 million senior secured revolving credit facility, as amended on October 30, 2014 (as amended, the “Revolving Credit Facility”), with a syndicate of lenders, which will mature on the fifth anniversary of the closing date of such credit facility. The Revolving Credit Facility provides 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. At December 31, 2015 and 2014, we had no outstanding borrowings under the Revolving Credit Facility. The Revolving Credit Facility includes 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. Our obligations under the Revolving Credit Facility are guaranteed by each of our material domestic subsidiaries other than Ciner Wyoming, and to the extent no material adverse tax consequences would result, foreign wholly-owned subsidiaries. As of December 31, 2015, our only subsidiary was Ciner Wyoming. In addition, our obligations under the Revolving Credit Facility are secured by a pledge of substantially all of our assets (subject to certain exceptions), including the membership interests held in Ciner Wyoming by us.

The Revolving Credit Facility contains various covenants and restrictive provisions that limit (subject to certain exceptions) our ability to (and the ability of our subsidiaries, including without limitation, Ciner Wyoming to):

make distributions on or redeem or repurchase units;
incur or guarantee additional debt;
make certain investments and acquisitions;
incur certain liens or permit them to exist;
enter into certain types of transactions with affiliates;
merge or consolidate with another company; and
transfer, sell or otherwise dispose of assets.
The Revolving Credit Facility also requires quarterly maintenance of a consolidated fixed charge coverage ratio (as defined in the Revolving Credit Facility) of not less than 1.05 to 1.00 for the 2015 fiscal year, and not less than 1.10 to 1.00 thereafter. The Revolving Credit Facility also requires that consolidated capital expenditures, as defined in the Revolving Credit Facility, not exceed $50 million in any fiscal year.

In addition, the Revolving Credit Facility contains events of default customary for transactions of this nature, including (i) failure to make payments required under the Revolving Credit Facility, (ii) events of default resulting from failure to comply with covenants and financial ratios, (iii) the occurrence of a change of control, (iv) the institution of insolvency or similar proceedings against us or our material subsidiaries and (v) the occurrence of a default under any other material indebtedness we (or any of our subsidiaries) may have, including the Ciner Wyoming Credit Facility. Upon the occurrence and during the continuation of an event of default, subject to the terms and conditions of the Revolving Credit Facility, the lenders may terminate all outstanding commitments under the Revolving Credit Facility and may declare any outstanding principal of the Revolving Credit Facility debt, together with accrued and unpaid interest, to be immediately due and payable.

Under the Revolving Credit Facility, a change of control is triggered if Ciner Corp and its wholly-owned subsidiaries, directly or indirectly, cease to own all of the equity interests, or cease to have the ability to elect a majority of the board of directors (or similar governing body) of, Ciner Holdings or Ciner GP (or any entity that performs the functions of our general partner). In addition, a change of control would be triggered if we cease to own at least 50.1% of the economic interests in Ciner Wyoming or ceases to have the ability to elect a majority of the members of Ciner Wyoming’s board of managers.
The Partnership was in compliance with all covenants and restrictions under its long-term debt agreements as of December 31, 2015.
Loans under the Revolving Credit Facility bear interest at our option at either:
a Base Rate, which equals the highest of (i) the federal funds rate in effect on such day plus 0.50%, (ii) the administrative agent’s prime rate in effect on such day and (iii) one-month LIBOR plus 1.0%, in each case, plus an applicable margin; or
a LIBOR Rate plus an applicable margin.
The unused portion of the Revolving Credit Facility is subject to an unused line fee ranging from 0.275% to 0.350% based on our then current consolidated leverage ratio.
In addition, there are restrictions in the Ciner Enterprises Credit Agreement that affect the Partnership. Specifically, Ciner Enterprises has agreed (subject to certain exceptions in addition to those described below) that it will not, and will not permit any of its subsidiaries, including Ciner Wyoming and us, to:
make distributions on or redeem or repurchase equity interests, other than distributions to our and Ciner Wyoming’s unitholders;
incur or guarantee additional debt, other than debt incurred under the Revolving Credit Facility or the Ciner Wyoming Credit Facility, among certain other types of permitted debt;
make certain investments and acquisitions, other than acquisitions by each of Ciner Wyoming and us, in an amount not to exceed $10 million and $2 million, respectively, and other exceptions set forth therein;
incur certain liens or permit them to exist, other than, with respect to our and Ciner Wyoming’s liens, an aggregate amount outstanding at any time equal to $200,000 and $1 million, respectively;
enter into certain types of transaction with affiliates, other than transactions between Ciner Wyoming and us;
merge or consolidate with another company; or
transfer, sell or otherwise dispose of assets, other than our and Ciner Wyoming’s dispositions of assets with a net book value not to exceed $500,000 and $2.5 million, respectively, in any given year.
OTHER NON-CURRENT LIABILITIES
OTHER NON-CURRENT LIABIITIES
OTHER NON-CURRENT LIABILITIES

Other non-current liabilities consisted of the following as of December 31:
(In millions)
2015
 
2014
Reclamation reserve
$
4.5

 
$
4.2

Derivative instruments and hedges, fair value liabilities
2.3

 

Total
$
6.8

 
$
4.2


A reconciliation of the Partnership’s reclamation reserve liability is as follows:
(In millions)
2015
 
2014
Reclamation reserve balance at beginning of year
$
4.2

 
$
3.8

Accretion expense
0.3

 
0.4

Reclamation reserve balance at end of year
$
4.5

 
$
4.2

EMPLOYEE COMPENSATION
EMPLOYEE COMPENSATION
EMPLOYEE COMPENSATION
The Partnership participates in various benefit plans offered and administered by Ciner Corp (administered by OCI Enterprises prior to the Transaction) and is allocated its portions of the annual costs related thereto. The specific plans are as follows:
Retirement Plans - Benefits provided under the pension plan for salaried employees and pension plan for hourly employees (collectively, 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. Each plan covers substantially all full-time employees hired before May 1, 2001. The funding policy is to contribute an amount within the range of the minimum required and the maximum tax-deductible contribution. The Partnership’s allocated portion of the Retirement Plan’s net periodic pension costs were $7.7 million, $3.1 million and $8.4 million for the years ended December 31, 2015, 2014 and 2013, respectively. The increase in pension costs in 2015, was driven by unfavorable effects of lower actuarial discount rates and market return assumptions in 2015 versus 2014.
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 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 for the years ended December 31, 2015, 2014 and 2013 were $2.6 million, $2.4 million and $2.8 million, respectively.
Postretirement Benefits - Most of the Partnership’s employees are eligible for postretirement benefits other than pensions if they reach retirement age while still employed.
The postretirement benefits are accounted for on an accrual basis over an employee’s period of service. The postretirement plan, excluding pensions, are not funded, and Ciner Corp has the right to modify or terminate the plan. Effective January 1, 2013, the postretirement benefits for non-grandfathered retirees were amended to replace the medical coverage for post-65-year-old members with a fixed dollar contribution amount. As a result of the amendment, the accumulated and projected benefit obligation for postretirement benefits decreased by $8.7 million and resulted in a prior service credit of $7.7 million which was recognized as a reduction of net periodic postretirement benefit costs through year 2014. The post-retirement benefits had a benefits obligation of $21.3 million and $22.8 million at December 31, 2015 and 2014, respectively. The Partnership’s allocated portion of postretirement benefit costs was an expense of $0.5 million for the year ended December 31, 2015, and income of $0.3 million and $0.1 million for the years ended December 31, 2014 and 2013, respectively.
EQUITY - BASED COMPENSATION (Notes)
EQUITY - BASED COMPENSATION
EQUITY - BASED COMPENSATION
In July 2013, our general partner established the Ciner Resource Partners LLC 2013 Long-Term Incentive Plan (the “Plan” or “LTIP”). The Plan is 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. As of December 31, 2015, subject to further adjustment as provided in the Plan, a total of 878,902 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 Transaction as discussed in Note 1, General, “Completed Sale Transaction”, triggered the change in control provisions under the Plan and applicable award agreements, resulting in the remaining unvested unit awards becoming immediately vested and nonforteitable as of the Transaction date. As of December 31, 2015, there are no unvested equity-based compensation awards and no unrecognized equity-based compensation expense.
Non-employee Director Awards
A total of 11,064 and 7,941 common units were granted and fully vested to non-employee directors with grant date average fair value per unit prices of $22.54 and $22.07 for the years ended December 31, 2015 and 2014, respectively. The total fair value at grant date of these awards were approximately $0.2 million and $0.2 million for the years ended December 31, 2015 and 2014, respectively. There were no grants awarded to non-employee directors for the year ended December 31, 2013.
Time Restricted Unit Awards
We grant restricted unit awards in the form of common units to certain employees which 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.
The following table presents a summary of activity on the Time Restricted Unit Awards for the years ended December 31:
 
2015
 
2014
(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 year
15,859

 
$
25.23

 

 
$

Granted (1)
8,347

 
22.51

 
19,960

 
25.01

Vested
(24,206
)
 
24.06

 
(4,101
)
 
25.54

Unvested at the end of the year

 
$

 
15,859

 
$
25.23

 
(1) Determined by dividing the aggregate grate date fair value of awards by the number of awards issued. No estimated forfeiture rate was applied to the awards as all awards granted vested as of December 31, 2015. There were no time restricted unit awards granted as of December 31, 2013.
Total Return Performance Unit Awards
We grant 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 TR performance relative to the peer group
We utilized a Monte Carlo simulation model to estimate the grant date fair value of TR Performance Unit Awards granted to employees. These type of awards, with market conditions, require 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 years ended December 31:
 
2015
 
2014
(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 year
7,658

 
$
35.72

 

 
$

Granted
7,235

 
24.64

 
7,658

 
35.72

Vested
(29,786
)
 
30.34

 

 

Performance adjustments (2)
14,893

 
30.34

 

 

Unvested at the end of the year

 
$

 
7,658

 
$
35.72

 
(1) Determined by dividing the aggregate grant date fair value of awards by the number of awards issued. There were no total return performance unit awards granted as of December 31, 2013.
(2) As of the date of grant the total return performance unit awards were to be measured over the period extending from January 1, 2014 through December 31, 2016 (for the 2014 grants) and January 1, 2015 through December 31, 2017 (for the 2015 grants). As a result of the Transaction, the performance measurement periods were truncated to the period ending on the date of the Transaction. The actual number of shares awarded at the end of the truncated performance measurement period met the payout at the maximum of the grant target quantity of 200% and was adjusted accordingly.
ACCUMULATED OTHER COMPREHENSIVE LOSS (Notes)
ACCUMULATED OTHER COMPREHENSIVE LOSS
ACCUMULATED OTHER COMPREHENSIVE LOSS
Accumulated Other Comprehensive loss
Accumulated other comprehensive loss, attributable to Ciner Resources LP, includes unrealized gains and losses on derivative financial instruments. Amounts recorded in accumulated other comprehensive loss as of December 31, 2015, 2014 and 2013, and changes within the period, consisted of the following:
 
 
Gains and Losses on Cash Flow Hedges
 
 
(In millions)
 
 
 
 
Balance at January 1, 2013
 
$
(0.2
)
Other comprehensive loss before reclassifications
 
$
(0.5
)
Amounts reclassified from accumulated other comprehensive loss
 
$
0.4

Net current-period other comprehensive income
 
(0.1
)
Balance at December 31, 2013
 
$
(0.3
)
Other comprehensive loss before reclassifications
 
(0.7
)
Amounts reclassified from accumulated other comprehensive loss
 
0.6

Net current-period other comprehensive income
 
(0.1
)
Balance at December 31, 2014
 
$
(0.4
)
Other comprehensive loss before reclassification
 
(2.4
)
Amounts reclassified from accumulated other comprehensive loss
 
0.7

Net current period other comprehensive loss
 
(1.7
)
Balance at December 31, 2015
 
$
(2.1
)

Other Comprehensive Income/(Loss)
Other comprehensive income/(loss), including portion attributable to non-controlling interest, is derived from adjustments to reflect the unrealized gains/(loss) on derivative financial instruments.
The components of other comprehensive income/(loss) consisted of the following for the years ended December 31:
 
 
2015
 
2014
 
2013
(In millions)
 
 
 
 
 
 
 
 
 
 
 
 
 
Unrealized gain/(loss) on derivatives:
 
 
 
 
 
 
Mark to market adjustment on interest rate swap contracts
 
$

 
$
(0.2
)
 
$

Mark to market adjustment on natural gas forward contracts
 
(3.4
)
 

 

Income/(loss) on derivative financial instruments
 
$
(3.4
)
 
$
(0.2
)
 
$


Reclassifications for the period
The components of other comprehensive income/(loss), attributable to Ciner Resources LP, that have been reclassified consisted of the following for the years ended December 31:
(In millions)
 
2015
 
2014
 
2013
 
Affected Line Items on the Consolidated Statements of Operations and Comprehensive Income
 
 
 
 
Details about other comprehensive income/(loss) components:
 
 
 
 
 
 
 
 
Gains and losses on cash flow hedges:
 
 
 
 
 
 
 
 
Interest rate swap contracts
 
$
0.5

 
$
0.6

 
$
0.4

 
Interest expense
Natural gas forward contracts
 
$
0.2

 
$

 
$

 
Cost of products sold
Total reclassifications for the period
 
$
0.7

 
$
0.6

 
$
0.4

 
 
INCOME TAXES
INCOME TAXES
INCOME TAXES
The Partnership is a limited partnership and generally is not subject to federal or certain state income taxes. As a result, the Partnership has not recognized income taxes for the years ended December 31, 2015 and 2014, respectively.
The Predecessor was subject to income tax and was included in the consolidated income tax returns of OCI Enterprises. Income taxes were allocated to the Predecessor based on separate company computations of income or loss. For the year ended December 31, 2013, included in income tax expense is the expense of the Predecessor through September 17, 2013.
The provision for income taxes consisted of the following for the year ended December 31:
 
 
2013
Current
 
$
6.8

Deferred
 
0.3

Total provision for income tax
 
$
7.1



The effective tax rate (excluding net income attributable to non-controlling interest) consisted of the following for the year ended December 31:
 
 
2013
 
 
Amount
 
Rate
Effect
Income tax provision at federal statutory rate
 
$
7.1

 
35.00
 %
State and local income taxes net of federal tax benefit
 
0.5

 
2.36
 %
Permanent domestic production activity deduction
 
(0.4
)
 
(2.06
)%
Other
 
(0.1
)
 
(0.27
)%
Total provision for income tax
 
$
7.1

 
35.03
 %

The effective tax rate excludes income taxes on income attributable to non-controlling interest shareholders because the results of Ciner Wyoming’s operations are taxed to its owners as a partnership for U.S. income tax purposes.
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES
Lease Commitments
The Partnership leases mineral rights from the U.S. Bureau of Land Management, the state of Wyoming, Rock Springs Royalty Corp, an affiliate of Anadarko Petroleum, and other private parties. All of these leases provide for royalties based upon production volume. The remaining leases provide for minimum lease payments as detailed in the table below. The Partnership has a perpetual right of first refusal with respect to these leases and intends to continue renewing the leases as has been its practice.
The Partnership entered into a 10 year rail yard switching and maintenance agreement with a third party, Watco Companies, LLC (“Watco”), on December 1, 2011. Under the agreement, Watco provides rail-switching services at the Partnership’s rail yard. The Partnership’s rail yard is constructed on land leased by Watco from Rock Springs Grazing Association and on land by which Watco holds an easement from Anadarko Land Corp; the Rock Springs Grazing Association land lease is renewable every 5 years for a total period of 30 years, while the Anadarko Land Corp. easement lease is perpetual. The Partnership has an option agreement with Watco to assign these leases to the Partnership at any time during the land lease term. An annual rental of $15 thousand is paid under the easement and an annual rental of $60 thousand is paid under the lease.
The Partnership entered into two track lease agreements, collectively, not to exceed 10 years with Union Pacific for certain rail tracks used in connection with the rail yard.
As of December 31, 2015, the total minimum contractual rental commitments under the Partnership’s various operating leases, including renewal periods, are as follows:
(In millions)
Leased Land
 
Track Leases
 
Total Minimum Lease Payments
 
 
 
 
 
 
2016
0.08

 
0.07

 
0.15

2017
0.08

 
0.07

 
0.15

2018
0.08

 
0.07

 
0.15

2019
0.08

 
0.07

 
0.15

2020
0.08

 
0.07

 
0.15

Thereafter
1.50

 
0.03

 
1.53

Total
$
1.9

 
$
0.4

 
$
2.3

Ciner Corp, on behalf of the Partnership, typically enters into operating lease contracts with various lessors for railcars to transport product to customer locations and warehouses. Rail car leases under these contractual commitments range for periods from 1 to 7 years. Ciner Corp's obligation related to these rail car leases are $12.0 million in 2016, $10.5 million in 2017, $9.3 million in 2018, $8.3 million in 2019, $5.4 million in 2020 and $5.7 million in 2021 and thereafter. Total lease expense was approximately $12.4 million, $9.5 million and $10.2 million for the years ended December 31, 2015, 2014 and 2013, respectively.     
Purchase Commitments
We have natural gas supply contracts to mitigate volatility in the price of natural gas. As of December 31, 2015, these contracts totaled $82.6 million for the purchase of a portion of our natural gas requirements over approximately the next five years. The supply purchase agreements have specific commitments of $24.1 million in 2016, $19.9 million in 2017, $17.4 million in 2018, $11.6 million in 2019 and $9.5 million in 2020. We have a separate contract that expires in 2021, for transportation of natural gas with an average annual cost of approximately $3.2 million per year.
Legal Proceedings
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 existing claims and legal proceedings and whether any damages resulting from them will be covered by insurance.
Off-Balance Sheet Arrangements
We have a self-bond agreement with the Wyoming Department of Environmental Quality under which we commit to pay directly for reclamation costs at our Green River, Wyoming plant site. The amount of the bond was $33.9 million as of December 31, 2015 and 2014, respectively, which is the amount we would need to pay the State of Wyoming for reclamation costs if we cease mining operations currently. The amount of this self-bond is subject to change upon periodic re-evaluation by the Land Quality Division.
AGREEMENTS AND TRANSACTIONS WITH AFFILIATES
AGREEMENTS AND TRANSACTIONS WITH AFFILIATES
AGREEMENTS AND TRANSACTIONS WITH AFFILIATES
Ciner Corp is the exclusive sales agent for the Partnership and through its membership in ANSAC, Ciner Corp is responsible for promoting and increasing the use and sale of soda ash and other refined or processed sodium products produced. All actual sales and marketing costs incurred by Ciner Corp are charged directly to the Partnership. 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. These transactions do not necessarily represent arm's length transactions and may not represent all costs if the Partnership operated on a stand alone basis. Prior to the closing of the Transaction on October 23, 2015, under the Omnibus Agreement we reimbursed OCI Enterprises and its affiliates for the expenses incurred by them in providing services to us, and we also reimbursed OCI Enterprises for certain direct operating expenses they paid on our behalf. Subsequent to the closing of the Transaction, on October 23, 2015 the Partnership entered into a Services Agreement (the “Services Agreement”), among the Partnership, our general partner and Ciner Corp. Pursuant to the Services Agreement, Ciner Corp 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 Ciner Corp an annual management fee and reimburse Ciner Corp for certain third-party costs incurred in connection with providing such services. In addition, under the joint venture agreement governing Ciner Wyoming, Ciner Wyoming reimburses us for employees who operate our assets and for support provided to Ciner Wyoming.
As a result of the closing of the Transaction discussed in Note 2 - “Summary of Significant Accounting Policies,” Ciner Enterprises owns indirectly and controls the Partnership, therefore, OCI Enterprises and subsidiaries, including OCI Alabama LLC, are no longer related parties of the Partnership as of the Transaction date. The following table includes transactions with OCI Enterprises and subsidiaries prior to the Transaction date.
The total costs charged to the Partnership by affiliates were as follows:
 
Years Ended December 31,
(In millions)
2015
 
2014
 
2013
OCI Enterprises
$
6.1

 
$
10.7

 
$
5.5

Ciner Corp
5.8

 
3.4

 
4.4

ANSAC
3.8

 
2.9

 
2.6

Total selling, general and administrative expenses - Affiliates
$
15.7

 
$
17.0

 
$
12.5

 
(1) ANSAC allocates its expenses to its members using a pro rata calculation based on sales.
Cost of products sold includes logistics services charged by ANSAC. For the years ended December 31, 2015, 2014 and 2013 these costs were $8.2 million, $9.2 million and $6.7 million, respectively.
Net sales to affiliates were as follows:
 
 
Years Ended December 31,
(In millions)
 
2015
 
2014
 
2013
ANSAC
 
$
261.0

 
$
230.8

 
$
200.4

OCI Alabama LLC
 
4.3

 
5.9

 
7.3

OCI Company Limited
 

 

 
3.9

Total
 
$
265.3

 
$
236.7

 
$
211.6


The Partnership had due from/to with affiliates as follows:
 
As of December 31,
(In millions)
2015
 
2014
 
2015
 
2014
 
Due from affiliates
 
Due to affiliates
OCI Enterprises
$

 
$
1.7

 
$

 
$
4.5

Ciner Corp
7.1

 
8.7

 
1.9

 
1.4

Ciner Resources Europe N.V.
4.8

 
9.2

 

 

Other

 

 
2.7

 
1.2

Total
$
11.9

 
$
19.6

 
$
4.6

 
$
7.1


As of December 31, 2015, included in Accounts receivable, net is $0.6 million receivable from OCI Enterprises and subsidiaries and included within Accrued expenses is $0.5 million payable to OCI Enterprises and subsidiaries.
MAJOR CUSTOMERS AND SEGMENT REPORTING
MAJOR CUSTOMERS AND SEGMENT REPORTING
MAJOR CUSTOMERS AND SEGMENT REPORTING
Our operations are similar in geography, nature of products we provide, and type of customers we serve. 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.
The net sales by geographic area consisted of the following:
 
 
Years Ended December 31,
(In millions)
 
2015
 
2014
 
2013
Domestic
 
$
194.0

 
$
194.8

 
$
195.1

International
 
 
 
 
 
 
ANSAC
 
261.0

 
230.8

 
200.4

Other
 
31.4

 
39.4

 
46.6

Total international
 
292.4

 
270.2

 
247.0

Total net sales
 
$
486.4

 
$
465.0

 
$
442.1

FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS
The Partnership measures certain financial and non-financial assets and liabilities at fair value on a recurring basis. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market in an orderly transaction between market participants on the measurement date. Fair value disclosures are reflected in a three-level hierarchy, maximizing the use of observable inputs and minimizing the use of unobservable inputs.
A three-level valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability on the measurement date. The three levels are defined as follows:
Ÿ
Level 1-inputs to the valuation methodology are quoted prices (unadjusted) for an identical asset or liability in an active market.
 
 
Ÿ
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.
 
 
Ÿ
Level 3-inputs to the valuation methodology are unobservable and significant to the fair value measurement of the asset or liability.
    
Financial instruments consist primarily of cash and cash equivalents, accounts receivable, accounts payable, derivative financial instruments and long-term debt. The carrying amounts of cash and cash equivalents, accounts receivable and accounts payable approximate their fair value because of the nature of such instruments. Our long-term debt and derivative financial instruments are measured at their fair values with Level 2 inputs 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 entered into interest rate swap contracts, designed as cash flow hedges, to mitigate our exposure to possible increases in interest rates. These contracts are for periods consistent with the exposure being hedged and will mature on July 18, 2018, the maturity date of the long-term debt under the Ciner Wyoming Credit Facility. These contracts had an aggregate notional value of $74.0 million and $76.0 million at December 31, 2015 and 2014, respectively. At December 31, 2015, it was anticipated that $0.7 million of losses currently recorded in accumulated other comprehensive income will be reclassified into earnings within the next 12 months.
In 2015, we enter into natural gas forward contracts, designed 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 2020. These contracts had an aggregate notional value of $15.8 million at December 31, 2015. At December 31, 2015, it was anticipated that $1.0 million of losses currently recorded in accumulated other comprehensive income will be reclassified into earnings within the next 12 months. We had no similar contracts outstanding as of December 31, 2014.
We enter into foreign exchange forward contracts to reduce exposure from certain firm commitments denominated in currencies other than the U.S. dollar. However, the Partnership has not applied hedge accounting for these contracts outstanding at December 31, 2015. These contracts are for periods consistent with the underlying currency exposure and generally have maturities of one year or less. These contracts, which are predominantly used to purchase U.S. dollars and sell Euros, had an aggregate notional value of $4.2 million and $6.9 million at December 31, 2015 and 2014, respectively.

The following table presents the fair value of derivative assets and liability derivatives and the respective balance sheet locations as of December 31:
 
Assets
 
Liabilities
 
2015
 
2014
 
2015
 
2014
(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
 
$
0.8

 
Accrued Expenses
 
$
0.7

Natural gas forward contracts - current
 
 

 
 
 

 
Accrued Expenses
 
1.0

 
 
 

Natural gas forward contracts - non-current
 
 

 
 
 

 
Other non-current liabilities
 
2.3

 
 
 

Total derivatives designated as hedging instruments
 
 
$

 
 
 
$

 
 
 
$
4.1

 
 
 
$
0.7

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Derivatives not designated as hedging instruments:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Foreign exchange forward contracts
Other current assets
 
$
0.1

 
Other current assets
 
$
0.6

 
 
 
$

 
 
 
$

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total derivatives not designated as hedging instruments
 
 
$
0.1

 
 
 
$
0.6

 
 
 
$

 
 
 
$

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total derivatives
 
 
$
0.1

 
 
 
$
0.6

 
 
 
$
4.1

 
 
 
$
0.7


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 8 “Debt” for additional information on our debt arrangements.
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS
Distribution Declaration

On January 13, 2016, the members of the Board of Managers of Ciner Wyoming, approved a cash distribution to the members in the aggregate amount of $25.0 million. The distribution was paid on February 5, 2016.
    
On January 14, 2016, the Partnership declared its fourth quarter 2015 quarterly distribution. The quarterly cash distribution of $0.5575 per unit was paid on February 12, 2016 to unitholders of record on January 29, 2016.
    
On February 19, 2016, the board of directors of our general partner approved the conversion of cash payments owed to the named executive officers (for the period from the closing of the Transaction to December 31, 2015) under Ciner Corp’s compensation program into grants of time-based restricted unit awards under the LTIP to the named executive officers in the aggregate of 33,383 units. The grant date fair market value of these awards was $0.7 million.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)
Basis of Presentation and Significant Accounting Policies
The accompanying consolidated financial statements of the Partnership and its subsidiary have been prepared in conformity with U.S. generally accepted accounting principles 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 significant intercompany transactions, balances, revenue and expenses have been eliminated in consolidation. The year ended December 31, 2013, includes the combined results of Ciner Holdings and its subsidiary (the "Predecessor") through September 17, 2013 and the Partnership for the period from September 18, 2013 through December 31, 2013 and unless otherwise noted, financial information for our Predecessor and the Partnership is presented before non-controlling interest.
Non-Controlling Interests
In connection with the conversion of Ciner Wyoming from a Delaware limited partnership (“LP”) to a Delaware limited liability company (“LLC”), in June 2014, NRP’s general partner interest and limited partnership interest were converted into a single-class of membership interests in Ciner Wyoming, which currently consists of 49.0% membership interest in Ciner Wyoming. Prior to the completion of the initial public offering (“IPO”) and the restructuring transaction completed in connection therewith (the “Restructuring”), non-controlling interests in the consolidated financial statements of our Predecessor represented the 1.0% limited partner interest in Ciner Wyoming owned by OCI Wyoming Co. (‘”Wyoming Co.”) and the 48.51% general partner interest in Ciner Wyoming owned by NRP. Subsequent to the Restructuring and IPO, but prior to the conversion of Ciner Wyoming from a Delaware LP to a Delaware LLC, non-controlling interests in the consolidated financial statements of the Partnership consisted of 39.37% general partner interest and 9.63% limited partner interest in Ciner Wyoming owned by NRP.
Use of Estimates
The preparation of consolidated financial statements, in accordance with accounting principles generally accepted in the United States of America, 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 consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Revenue Recognition
We recognize revenue when the earnings process is complete, which is generally upon transfer of title. This transfer typically occurs upon shipment to the customer, which is normally free on board (“FOB”) terms or upon receipt by the customer. In all cases, we apply the following criteria in recognizing revenue: (1) persuasive evidence of an arrangement exists; (2) delivery has occurred; (3) the selling price is fixed, determinable or reasonably estimated sales price has been agreed with the customer; and (4) collectability is reasonably assured.  Customer rebates are accounted for as sales deductions. We record amounts billed for shipping and handling fees as revenue. Costs incurred for shipping and handling are recorded as costs of products sold.
Freight Costs
The Partnership includes freight costs billed to customers for shipments administered by the Partnership in gross sales. The related freight costs along with cost of products sold are deducted from gross sales to determine gross profit.
Cash and Cash Equivalents
The Partnership considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. Cash equivalents consist primarily of money market deposit accounts.
Accounts Receivable
Accounts receivable are carried at the original invoice amount less an estimate for doubtful receivables. We generally do not require collateral against outstanding accounts receivable.The allowance for doubtful accounts is based on specifically identified amounts that the Partnership believes to be uncollectible. An additional allowance is recorded based on certain percentages of aged receivables, which are determined based on management’s assessment of the general financial conditions affecting the Partnership’s customer base. If actual collection experience changes, revisions to the allowance may be required. Accounts receivable are written off when deemed uncollectible. Recoveries of accounts receivable previously written off are recorded when received. During the years ended 2015, 2014 and 2013, there were no significant accounts receivable bad debt expenses, write-offs or recoveries.
Inventory
Inventory is carried at the lower of cost or market. Cost is determined using the first-in, first-out method for raw material and finished goods inventory and the weighted average cost method for stores inventory. Costs include raw materials, direct labor and manufacturing overhead. Market is based on current replacement cost for raw materials and stores inventory, and finished goods is based on net realizable value.
Raw material inventory includes material, chemicals and natural resources being used in the mining and refining process.
Finished goods inventory is the finished product soda ash.
Stores inventory includes parts, materials and operating supplies which are typically consumed in the production of soda ash and currently available for future use.
Property, Plant, and Equipment
Property, plant, and equipment are stated at cost less accumulated depreciation. Depreciation is computed over the estimated useful lives of depreciable assets, principally using the straight-line method. The estimated useful lives applied to depreciable assets are as follows:
 
 
Useful Lives
Land improvements
 
10 years
Depletable land
 
15-60 years
Buildings and building improvements
 
10-30 years
Internal-use computer software
 
3-5 years
Machinery and equipment
 
5-20 years
Furniture and fixtures
 
10 years
The Partnership’s policy is to evaluate property, plant, and equipment for impairment whenever events or changes in circumstances indicate that its carrying amount may not be recoverable. An indicator of potential impairment would include situations when the estimated future undiscounted cash flows are less than the carrying value. The amount of any impairment then recognized would be calculated as the difference between estimated fair value and the carrying value of the asset.
Derivative Instruments and Hedging Activities
The Partnership may enter into derivative contracts from time to time to manage exposure to the risk of exchange rate changes on its foreign currency transactions, the risk of changes in natural gas prices, and the risk of the variability in interest rates on borrowings. Gains and losses on derivative contracts qualifying for hedge accounting are reported as a component of the underlying transactions. The Partnership follows hedge accounting for its hedging activities. All derivative instruments are recorded on the balance sheet at their fair values. The accounting for changes in the fair value of a derivative depends on the intended use of the derivative and the resulting designation. The Partnership designates its derivatives based upon criteria established for hedge accounting under generally accepted accounting principles. For a derivative designated as a fair value hedge, the gain or loss is recognized in earnings in the period of change together with the offsetting gain or loss on the hedged item attributed to the risk being hedged. For a derivative designated as a cash flow hedge, the effective portion of the derivative’s gain or loss is initially reported as a component of accumulated other comprehensive income (loss) and subsequently reclassified into earnings when the hedged exposure affects earnings. Any significant ineffective portion of the gain or loss is reported in earnings immediately. For derivatives not designated as hedges, the gain or loss is reported in earnings in the period of change. The natural gas physical forward contracts are accounted for under the normal purchases and normal sales scope exception.
Income Tax
We are organized as a pass-through entity for federal income tax purposes. As a result, our partners are responsible for federal income taxes based on their respective share of taxable income. Net income for financial statement purposes may differ significantly from taxable income reportable to unitholders as a result of differences between the tax basis and financial reporting basis of assets and liabilities and the taxable income allocation requirements under the partnership agreement.
The Partnership is a limited partnership and generally is not subject to federal or certain state income taxes. For the year ended December 31, 2013, included in income tax expense is the expense of our Predecessor through September 17, 2013. The Predecessor was subject to income tax and was included in the consolidated income tax returns of OCI Enterprises and income taxes were allocated to the Predecessor based on separate company computations of income or loss.
Reclamation Costs
The Partnership is obligated to return the land beneath its refinery and tailings ponds to its natural condition upon completion of operations and is required to return the land beneath its rail yard to its natural condition upon termination of the various lease agreements.
The Partnership accounts for its land reclamation liability as an asset retirement obligation, which requires that obligations associated with the retirement of a tangible long-lived asset be recorded as a liability when those obligations are incurred, with the amount of the liability initially measured at fair value. Upon initially recognizing a liability for an asset retirement obligation, an entity must capitalize the cost by recognizing an increase in the carrying amount of the related long-lived asset. Over time, the liability is accreted to its present value each period, and the capitalized cost is depreciated over the estimated useful life of the related asset. Upon settlement of the liability, an entity either settles the obligation for its recorded amount or incurs a gain or loss upon settlement.
The estimated original liability calculated in 1996 for the refinery and tailing ponds was calculated based on the estimated useful life of the mine, which was 80 years, and on external and internal estimates as to the cost to restore the land in the future and state regulatory requirements. In 2016, the mining reserve will be amortized over a remaining life of 67 years. During 2015, 2014 and 2013, the remaining life was 68, 66 and 67 years, respectively. The liability was discounted using a weighted average credit-adjusted risk-free rates of approximately 6% and is being accreted throughout the estimated life of the related assets to equal the total estimated costs with a corresponding entry being recorded to cost of products sold.
During 2011, the Partnership constructed a rail yard to facilitate loading and switching of rail cars. The Partnership is required to restore the land on which the rail yard is constructed to its natural conditions. The estimated liability for restoring the rail yard to its natural condition is calculated based on the land lease life of 30 years and on external and internal estimates as to the cost to restore the land in the future. The liability is discounted using a credit-adjusted risk-free rate of 4.25% and is being accreted throughout the estimated life of the related assets to equal the total estimated costs with a corresponding entry being recorded to cost of products sold.
Fair Value of Financial Instruments
Fair value is determined using a valuation hierarchy, generally by reference to an active trading market, quoted market prices or model-derived valuations for the same or similar financial instruments. See Note 17, “Fair Value Measurements,” for more information.
Equity-Based Compensation
We recognize compensation expense related to equity-based awards, with service conditions, granted to employees based on the estimated fair value of the awards on the date of grant, net of estimated forfeitures. The grant date fair value of the equity-based awards is generally recognized on a straight-line basis over the requisite service period, which is generally the vesting period of the respective awards. Equity-based awards with market conditions are fair valued using a Monte Carlo Simulation model. See Note 11, “Equity-Based Compensation - TR Performance Unit Awards,” for additional information.
Subsequent Events
We have evaluated subsequent events through the filing of this Annual Report on Form 10-K.
Recently Issued Accounting Pronouncements
In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606) that requires companies to recognize revenue when a customer obtains control rather than when companies have transferred substantially all risks and rewards of a good or service. In August 2015, the amendments in ASU 2015-14 defer the effective date of ASU 2014-09 for all entities by one year. Public business entities, certain not-for-profit entities, and certain employee benefit plans should apply the guidance in ASU 2014-09 to annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. Earlier application permitted only as of annual reporting period beginning after December 15, 2016, including interim reporting periods therein.We are currently assessing the impact the adoption of ASU No. 2014-09 will have on our consolidated financial statements, as well as the available transition methods.
In July 2015, the FASB issued ASU No. 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory. ASU 2015-11 requires that inventory within the scope of this update be measured at the lower of cost and net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. The amendments in this update do not apply to inventory that is measured using last-in, first-out (LIFO) or the retail inventory method. The amendments apply to all other inventory, which includes inventory that is measured using first-in, first-out (FIFO) or average cost. For public business entities, the amendments in this update are effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. Earlier application is permitted by all entities as of the beginning of an interim or annual reporting period. The amendments should be applied prospectively. We do not expect the adoption of ASU No. 2015-11 to have a material impact upon our financial condition or results of operations.
In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities (ASU 2016-01). The standard amends certain aspects of recognition, measurement, presentation, and disclosure of financial assets and liabilities. ASU 2016-01 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2017. We are currently evaluating the potential impact the adoption of ASU No. 2016-01 will have on our consolidated financial statements, as well as available transition methods.
In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). The update amends existing standards for accounting for leases by lessees, with accounting for leases by lessors remaining largely unchanged from current guidance. The update requires that lessees recognize a lease liability and a right of use asset for all leases (with the exception of short-term leases) at the commencement date of the lease and disclose key information about leasing arrangements. The update is effective for interim and annual periods beginning after December 15, 2018 and must be adopted using a modified retrospective transition. The ASU No. 2016-02 provides for certain practical expedients and early adoption is permitted. The Partnership is evaluating the potential impact the adoption of ASU No. 2016-02 will have on its consolidated financial statements.
NET INCOME PER UNIT AND CASH DISTRIBUTION (Tables)
The net income attributable to common and subordinated unitholders and the weighted average units for calculating basic and diluted net income per common and subordinated units were as follows:
 
 
Years Ended 
 December 31,
(In millions, except per unit data)
 
2015
 
2014
 
2013
 
 
 
 
 
 
 
Net income attributable to Ciner Resources LP (1)
 
$
51.5

 
$
44.5

 
$
13.0

Less: General partner’s interest in net income
 
1.0

 
0.8

 
0.2

Limited partners’ interest in net income
 
$
50.5

 
$
43.7

 
$
12.8

 
 
 
 
 
 
 
Weighted average limited partner units outstanding:
 
 
 
 
 
 
Common - Public and Ciner Holdings (basic and diluted)
 
9.8
 
9.8
 
9.8
Subordinated - Ciner Holdings (basic and diluted)
 
9.8
 
9.8
 
9.8
Total weighted average limited partner units outstanding
 
19.6

 
19.6

 
19.6

 
 
 
 
 
 
 
Net income per limited partner unit (1):
 
 
 
 
 
 
Common - Public and Ciner Holdings (basic and diluted)
 
$
2.58

 
$
2.23

 
$
0.65

Subordinated - Ciner Holdings (basic and diluted)
 
$
2.58

 
$
2.23

 
$
0.65


 
(1) Net income attributable to Ciner Resources LP and net income per limited partner unit, for year ended December 31, 2013, is subsequent to initial public offering.

The calculation of limited partners’ interest in net income is as follows:
 
Years Ended 
 December 31,
(In millions, except per unit data)
2015
 
2014
 
2013
Net income attributable to common unitholders(2):
 
 
 
 
 
    Distributions (1)
$
21.5

 
$
20.2

 
$
5.6

    Undistributed earnings
3.8

 
1.7

 
0.8

Common unitholders’ interest in net income(2)
$
25.3

 
$
21.9

 
$
6.4

 
 
 
 
 
 
Net income attributable to subordinated unitholders(2):
 
 
 
 
 
    Distributions (1)
$
21.4

 
$
20.1

 
$
5.6

    Undistributed earnings
3.8

 
1.7

 
0.8

Subordinated unitholders’ interest in net income(2)
$
25.2

 
$
21.8

 
$
6.4

 
 
 
 
 
 
(1) Distributions declared for the year
2.19

 
2.06

 
0.57

(2) Net income and interest attributable to common and subordinated unitholders, for year ended December 31, 2013, is subsequent to initial public offering.

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." The percentage interests shown for our unitholders and our general partner for the minimum quarterly distribution also apply to quarterly distribution amounts that are less than the minimum quarterly distribution. 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 incentive distribution rights and (4) assume there are no arrearages on common units.
 
 
 
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
%
ACCOUNTS RECEIVABLE, NET (Tables)
Schedule of Accounts Receivable
Accounts receivable, net consisted of the following as of December 31:
(In millions)
2015
 
2014
Trade receivables
$
27.2

 
$
24.7

Other receivables
6.8

 
10.9

 
34.0

 
35.6

Allowance for doubtful accounts
(0.2
)
 
(0.1
)
Total
$
33.8

 
$
35.5

INVENTORY (Tables)
Schedule of inventory
Inventory consisted of the following as of December 31:
(In millions)
2015
 
2014
Raw materials
$
9.1

 
$
6.4

Finished goods
10.7

 
10.4

Stores inventory
27.1

 
26.4

Total
$
46.9

 
$
43.2

Less: Stores inventory reclassed to other non-current assets
$
(20.5
)
 
$
(20.7
)
Inventory - current
$
26.4

 
$
22.5

PROPERTY, PLANT AND EQUIPMENT, NET (Tables)
Property, Plant and Equipment
Property, plant, and equipment, net consisted of the following as of December 31:
(In millions)
2015
 
2014
Land and land improvements
$
0.3

 
$
0.3

Depletable land
3.0

 
3.0

Buildings and building improvements
132.5

 
129.5

Internal-use computer software
4.9

 
4.5

Machinery and equipment
605.7

 
595.5

Mining reserves
65.3

 
65.3

Total
811.7

 
798.1

Less accumulated depreciation, depletion and amortization
(598.6
)
 
(586.2
)
Total net book value
213.1

 
211.9

Construction in progress
42.1

 
33.1

Total property, plant, and equipment, net
$
255.2

 
$
245.0

ACCRUED EXPENSES (Tables)
Schedule of accrued expenses
Accrued expenses consisted of the following as of December 31:
(In millions)
2015
 
2014
Accrued freight costs
$
0.1

 
$
1.4

Accrued energy costs
5.2

 
5.7

Accrued royalty costs
4.8

 
4.4

Accrued employee compensation
4.0

 
6.8

Accrued other taxes
4.6

 
4.7

Accrued derivatives
1.8

 
0.7

Other accruals
4.7

 
5.8

Total
$
25.2

 
$
29.5

DEBT (Tables)
Long-term debt consisted of the following as of December 31:
(In millions)
2015
 
2014
Variable Rate Demand Revenue Bonds, principal due October 1, 2018, interest payable monthly, bearing monthly interest rate of 0.11% (2015) and 0.14% (2014)
$
11.4

 
$
11.4

Variable Rate Demand Revenue Bonds, principal due August 1, 2017, interest payable monthly, bearing monthly interest rate of 0.11% (2015) and 0.14% (2014)
8.6

 
8.6

Ciner Wyoming Credit Facility, unsecured principal expiring on July 18, 2018, variable interest rate as a weighted average rate of 2.07% (2015) and 1.98% (2014)
90.0

 
125.0

Total debt
110.0

 
$
145.0

Current portion of long-term debt

 

Total long-term debt
$
110.0

 
$
145.0

Aggregate maturities required on long-term debt at December 31, 2015 are due in future years as follows:
 
Amount
2017
8.6

2018
101.4

Total
$
110.0

OTHER NON-CURRENT LIABILITIES (Tables)
(In millions)
2015
 
2014
Reclamation reserve
$
4.5

 
$
4.2

Derivative instruments and hedges, fair value liabilities
2.3

 

Total
$
6.8

 
$
4.2

A reconciliation of the Partnership’s reclamation reserve liability is as follows:
(In millions)
2015
 
2014
Reclamation reserve balance at beginning of year
$
4.2

 
$
3.8

Accretion expense
0.3

 
0.4

Reclamation reserve balance at end of year
$
4.5

 
$
4.2

EQUITY - BASED COMPENSATION (Tables)
The following table presents a summary of activity on the Time Restricted Unit Awards for the years ended December 31:
 
2015
 
2014
(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 year
15,859

 
$
25.23

 

 
$

Granted (1)
8,347

 
22.51

 
19,960

 
25.01

Vested
(24,206
)
 
24.06

 
(4,101
)
 
25.54

Unvested at the end of the year

 
$

 
15,859

 
$
25.23

 
(1) Determined by dividing the aggregate grate date fair value of awards by the number of awards issued. No estimated forfeiture rate was applied to the awards as all awards granted vested as of December 31, 2015. There were no time restricted unit awards granted as of December 31, 2013.
The following table presents a summary of activity on the TR Performance Unit Awards for the years ended December 31:
 
2015
 
2014
(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 year
7,658

 
$
35.72

 

 
$

Granted
7,235

 
24.64

 
7,658

 
35.72

Vested
(29,786
)
 
30.34

 

 

Performance adjustments (2)
14,893

 
30.34

 

 

Unvested at the end of the year

 
$

 
7,658

 
$
35.72

 
(1) Determined by dividing the aggregate grant date fair value of awards by the number of awards issued. There were no total return performance unit awards granted as of December 31, 2013.
(2) As of the date of grant the total return performance unit awards were to be measured over the period extending from January 1, 2014 through December 31, 2016 (for the 2014 grants) and January 1, 2015 through December 31, 2017 (for the 2015 grants). As a result of the Transaction, the performance measurement periods were truncated to the period ending on the date of the Transaction. The actual number of shares awarded at the end of the truncated performance measurement period met the payout at the maximum of the grant target quantity of 200% and was adjusted accordingly.
ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)
Amounts recorded in accumulated other comprehensive loss as of December 31, 2015, 2014 and 2013, and changes within the period, consisted of the following:
 
 
Gains and Losses on Cash Flow Hedges
 
 
(In millions)
 
 
 
 
Balance at January 1, 2013
 
$
(0.2
)
Other comprehensive loss before reclassifications
 
$
(0.5
)
Amounts reclassified from accumulated other comprehensive loss
 
$
0.4

Net current-period other comprehensive income
 
(0.1
)
Balance at December 31, 2013
 
$
(0.3
)
Other comprehensive loss before reclassifications
 
(0.7
)
Amounts reclassified from accumulated other comprehensive loss
 
0.6

Net current-period other comprehensive income
 
(0.1
)
Balance at December 31, 2014
 
$
(0.4
)
Other comprehensive loss before reclassification
 
(2.4
)
Amounts reclassified from accumulated other comprehensive loss
 
0.7

Net current period other comprehensive loss
 
(1.7
)
Balance at December 31, 2015
 
$
(2.1
)
 
 
2015
 
2014
 
2013
(In millions)
 
 
 
 
 
 
 
 
 
 
 
 
 
Unrealized gain/(loss) on derivatives:
 
 
 
 
 
 
Mark to market adjustment on interest rate swap contracts
 
$

 
$
(0.2
)
 
$

Mark to market adjustment on natural gas forward contracts
 
(3.4
)
 

 

Income/(loss) on derivative financial instruments
 
$
(3.4
)
 
$
(0.2
)
 
$

The components of other comprehensive income/(loss), attributable to Ciner Resources LP, that have been reclassified consisted of the following for the years ended December 31:
(In millions)
 
2015
 
2014
 
2013
 
Affected Line Items on the Consolidated Statements of Operations and Comprehensive Income
 
 
 
 
Details about other comprehensive income/(loss) components:
 
 
 
 
 
 
 
 
Gains and losses on cash flow hedges:
 
 
 
 
 
 
 
 
Interest rate swap contracts
 
$
0.5

 
$
0.6

 
$
0.4

 
Interest expense
Natural gas forward contracts
 
$
0.2

 
$

 
$

 
Cost of products sold
Total reclassifications for the period
 
$
0.7

 
$
0.6

 
$
0.4

 
 
INCOME TAXES (Tables)
The provision for income taxes consisted of the following for the year ended December 31:
 
 
2013
Current
 
$
6.8

Deferred
 
0.3

Total provision for income tax
 
$
7.1

The effective tax rate (excluding net income attributable to non-controlling interest) consisted of the following for the year ended December 31:
 
 
2013
 
 
Amount
 
Rate
Effect
Income tax provision at federal statutory rate
 
$
7.1

 
35.00
 %
State and local income taxes net of federal tax benefit
 
0.5

 
2.36
 %
Permanent domestic production activity deduction
 
(0.4
)
 
(2.06
)%
Other
 
(0.1
)
 
(0.27
)%
Total provision for income tax
 
$
7.1

 
35.03
 %
COMMITMENTS AND CONTINGENCIES (Tables)
Contractual minimum commitments under operating leases
As of December 31, 2015, the total minimum contractual rental commitments under the Partnership’s various operating leases, including renewal periods, are as follows:
(In millions)
Leased Land
 
Track Leases
 
Total Minimum Lease Payments
 
 
 
 
 
 
2016
0.08

 
0.07

 
0.15

2017
0.08

 
0.07

 
0.15

2018
0.08

 
0.07

 
0.15

2019
0.08

 
0.07

 
0.15

2020
0.08

 
0.07

 
0.15

Thereafter
1.50

 
0.03

 
1.53

Total
$
1.9

 
$
0.4

 
$
2.3

AGREEMENTS AND TRANSACTIONS WITH AFFILIATES (Tables)
The total costs charged to the Partnership by affiliates were as follows:
 
Years Ended December 31,
(In millions)
2015
 
2014
 
2013
OCI Enterprises
$
6.1

 
$
10.7

 
$
5.5

Ciner Corp
5.8

 
3.4

 
4.4

ANSAC
3.8

 
2.9

 
2.6

Total selling, general and administrative expenses - Affiliates
$
15.7

 
$
17.0

 
$
12.5

 
(1) ANSAC allocates its expenses to its members using a pro rata calculation based on sales.
Net sales to affiliates were as follows:
 
 
Years Ended December 31,
(In millions)
 
2015
 
2014
 
2013
ANSAC
 
$
261.0

 
$
230.8

 
$
200.4

OCI Alabama LLC
 
4.3

 
5.9

 
7.3

OCI Company Limited
 

 

 
3.9

Total
 
$
265.3

 
$
236.7

 
$
211.6

The Partnership had due from/to with affiliates as follows:
 
As of December 31,
(In millions)
2015
 
2014
 
2015
 
2014
 
Due from affiliates
 
Due to affiliates
OCI Enterprises
$

 
$
1.7

 
$

 
$
4.5

Ciner Corp
7.1

 
8.7

 
1.9

 
1.4

Ciner Resources Europe N.V.
4.8

 
9.2

 

 

Other

 

 
2.7

 
1.2

Total
$
11.9

 
$
19.6

 
$
4.6

 
$
7.1

MAJOR CUSTOMERS AND SEGMENT REPORTING (Tables)
Schedule of sales by geographic area
The net sales by geographic area consisted of the following:
 
 
Years Ended December 31,
(In millions)
 
2015
 
2014
 
2013
Domestic
 
$
194.0

 
$
194.8

 
$
195.1

International
 
 
 
 
 
 
ANSAC
 
261.0

 
230.8

 
200.4

Other
 
31.4

 
39.4

 
46.6

Total international
 
292.4

 
270.2

 
247.0

Total net sales
 
$
486.4

 
$
465.0

 
$
442.1

FAIR VALUE MEASUREMENTS Fair Value of derivative assets and liabilities (Tables)
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]
The following table presents the fair value of derivative assets and liability derivatives and the respective balance sheet locations as of December 31:
 
Assets
 
Liabilities
 
2015
 
2014
 
2015
 
2014
(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
 
$
0.8

 
Accrued Expenses
 
$
0.7

Natural gas forward contracts - current
 
 

 
 
 

 
Accrued Expenses
 
1.0

 
 
 

Natural gas forward contracts - non-current
 
 

 
 
 

 
Other non-current liabilities
 
2.3

 
 
 

Total derivatives designated as hedging instruments
 
 
$

 
 
 
$

 
 
 
$
4.1

 
 
 
$
0.7

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Derivatives not designated as hedging instruments:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Foreign exchange forward contracts
Other current assets
 
$
0.1

 
Other current assets
 
$
0.6

 
 
 
$

 
 
 
$

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total derivatives not designated as hedging instruments
 
 
$
0.1

 
 
 
$
0.6

 
 
 
$

 
 
 
$

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total derivatives
 
 
$
0.1

 
 
 
$
0.6

 
 
 
$
4.1

 
 
 
$
0.7

GENERAL (Details) (USD $)
0 Months Ended 12 Months Ended
Oct. 23, 2015
Dec. 31, 2015
Members' Equity
 
$ 0.510 
Members' Equity Attributable to Noncontrolling Interest
 
$ 0.490 
Percentage of Ownership acquired
100.00% 
 
Ownership Percentage of Incentive Distribution Rights
 
0.00% 
Limited Partner
 
 
Limited Liability Company (LLC) or Limited Partnership (LP), Managing Member or General Partner, Ownership Interest
 
73.00% 
General Partner
 
 
Limited Liability Company (LLC) or Limited Partnership (LP), Managing Member or General Partner, Ownership Interest
 
2.00% 
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) (USD $)
0 Months Ended 9 Months Ended 12 Months Ended
Dec. 31, 2015
Oct. 28, 2013
Ciner Wyoming LLC [Member]
Natural Resource Partners LP
Sep. 30, 2013
Ciner Wyoming LLC [Member]
Natural Resource Partners LP
Sep. 18, 2013
Ciner Wyoming LLC [Member]
Predecessor
OCI Wyoming Co
Sep. 18, 2013
Ciner Wyoming LLC [Member]
Predecessor
Natural Resource Partners LP
Dec. 31, 2015
Asset Retirement Obligation
Dec. 31, 2015
Land improvements
Dec. 31, 2015
Depletable land
Minimum
Dec. 31, 2015
Depletable land
Maximum
Dec. 31, 2015
Buildings and building improvements
Minimum
Dec. 31, 2015
Buildings and building improvements
Maximum
Dec. 31, 2015
Internal-use computer software
Minimum
Dec. 31, 2015
Internal-use computer software
Maximum
Dec. 31, 2015
Machinery and equipment
Minimum
Dec. 31, 2015
Machinery and equipment
Maximum
Dec. 31, 2015
Furniture and fixtures
Dec. 31, 2015
Mining reserves
Asset Retirement Obligation
Dec. 31, 2014
Mining reserves
Asset Retirement Obligation
Dec. 31, 2013
Mining reserves
Asset Retirement Obligation
Dec. 31, 1996
Mining reserves
Asset Retirement Obligation
Dec. 31, 2016
Mining reserves
Asset Retirement Obligation
Forecast
Dec. 31, 2015
Leased Land
Asset Retirement Obligation
Dec. 31, 2011
Leased Land
Asset Retirement Obligation
Corporate structure and ownership
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Members' Equity Attributable to Noncontrolling Interest
$ 0.490 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Percentage of limited partner ownership interest held
 
9.63% 
 
1.00% 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Percentage of general partner ownership interest held
 
 
39.37% 
 
48.51% 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Useful Life
 
 
 
 
 
 
10 years 
15 years 
60 years 
10 years 
30 years 
3 years 
5 years 
5 years 
20 years 
10 years 
68 years 
66 years 
67 years 
80 years 
67 years 
 
30 years 
Credit adjusted, risk-free interest rate
 
 
 
 
 
6.00% 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
4.25% 
 
NET INCOME PER UNIT AND CASH DISTRIBUTION - Narrative (Details)
12 Months Ended 1 Months Ended 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2015
General Partner
Dec. 31, 2015
Second Target Distribution
General Partner
Dec. 31, 2015
Third Target Distribution
General Partner
Dec. 31, 2015
Thereafter
General Partner
Feb. 12, 2016
Subsequent Event
Dec. 31, 2015
Up to minimum quarterly distribution for each common unit
Common Units
Dec. 31, 2015
Up to minimum quarterly distribution for each common unit
General Partner
Dec. 31, 2015
Up to any arrearages in the payments of the minimum quarterly distribution
Common Units
Dec. 31, 2015
Up to any arrearages in the payments of the minimum quarterly distribution
General Partner
Dec. 31, 2015
Up to minimum quarterly distribution for each subordinated unit
General Partner
Dec. 31, 2015
Up to minimum quarterly distribution for each subordinated unit
Subordinated Limited Partners [Member]
Schedule of Percentage Allocation of Distributions From Operating Surplus [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash distribution declared per unit
$ 2.191 
$ 2.057 
$ 0.571 
 
 
 
 
$ 0.5575 
 
 
 
 
 
 
Percentage Allocation of Operating Surplus During Subordination Period
 
 
 
 
 
 
 
 
98.00% 
2.00% 
98.00% 
2.00% 
2.00% 
98.00% 
Percentage of general partner ownership interest held
 
 
 
2.00% 
 
 
 
 
 
 
 
 
 
 
Increasing Percentage Allocation of Operating Surplus General Partner Incentive
 
 
 
 
13.00% 
23.00% 
48.00% 
 
 
 
 
 
 
 
NET INCOME PER UNIT AND CASH DISTRIBUTION - Calculation of net income per unit (Details) (USD $)
In Millions, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
 
 
 
Net Income (Loss) Available to Common Stockholders, basic, subsequent to IPO
$ 51.5 
$ 44.5 
$ 13.0 
Less: General partner’s interest in net income
1.0 
0.8 
0.2 
Limited partners’ interest in net income
50.5 
43.7 
12.8 
Total weighted average limited partner units outstanding basic and diluted
19.6 
19.6 
19.6 
Common unit
 
 
 
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
 
 
 
Weighted average common and subordinated units outstanding (basic and diluted) (shares)
9.8 
9.8 
9.8 
Net income per common and subordinated unit (basic and diluted) (dollars per share)
$ 2.58 
$ 2.23 
$ 0.65 
Subordinated Limited Partners [Member]
 
 
 
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
 
 
 
Limited partners’ interest in net income
$ 25.2 
$ 21.8 
$ 6.4 
Weighted average common and subordinated units outstanding (basic and diluted) (shares)
9.8 
9.8 
9.8 
Net income per common and subordinated unit (basic and diluted) (dollars per share)
$ 2.58 
$ 2.23 
$ 0.65 
NET INCOME PER UNIT AND CASH DISTRIBUTION - Allocation of Net Income (Details) (USD $)
In Millions, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
 
 
 
Common unitholders’ interest in net income(2)
$ 50.5 
$ 43.7 
$ 12.8 
Cash distribution declared per unit
$ 2.191 
$ 2.057 
$ 0.571 
Common Units
 
 
 
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
 
 
 
Distributions
21.5 
20.2 
5.6 
Undistributed earnings
3.8 
1.7 
0.8 
Common unitholders’ interest in net income(2)
25.3 
21.9 
6.4 
Subordinated Limited Partners [Member]
 
 
 
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
 
 
 
Distributions
21.4 
20.1 
5.6 
Undistributed earnings
3.8 
1.7 
0.8 
Common unitholders’ interest in net income(2)
$ 25.2 
$ 21.8 
$ 6.4 
NET INCOME PER UNIT AND CASH DISTRIBUTION - Target distributions and marginal percentage interests (Details)
12 Months Ended
Dec. 31, 2015
Minimum Quarterly Distribution
 
Schedule of Percentage Allocation of Distributions From Operating Surplus [Line Items]
 
Maximum Quarterly Distribution Target Levels
$ 0.5000 
First Target Distribution
 
Schedule of Percentage Allocation of Distributions From Operating Surplus [Line Items]
 
Minimum Quarterly Target Levels
$ 0.5000 
Maximum Quarterly Distribution Target Levels
$ 0.5750 
Second Target Distribution
 
Schedule of Percentage Allocation of Distributions From Operating Surplus [Line Items]
 
Minimum Quarterly Target Levels
$ 0.5750 
Maximum Quarterly Distribution Target Levels
$ 0.6250 
Third Target Distribution
 
Schedule of Percentage Allocation of Distributions From Operating Surplus [Line Items]
 
Minimum Quarterly Target Levels
$ 0.6250 
Maximum Quarterly Distribution Target Levels
$ 0.7500 
Thereafter
 
Schedule of Percentage Allocation of Distributions From Operating Surplus [Line Items]
 
Minimum Quarterly Target Levels
$ 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 |
Thereafter
 
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% 
General Partner |
First Target Distribution
 
Schedule of Percentage Allocation of Distributions From Operating Surplus [Line Items]
 
Marginal Interest in Distribution, Percentage
2.00% 
General Partner |
Second Target Distribution
 
Schedule of Percentage Allocation of Distributions From Operating Surplus [Line Items]
 
Marginal Interest in Distribution, Percentage
15.00% 
General Partner |
Third Target Distribution
 
Schedule of Percentage Allocation of Distributions From Operating Surplus [Line Items]
 
Marginal Interest in Distribution, Percentage
25.00% 
General Partner |
Thereafter
 
Schedule of Percentage Allocation of Distributions From Operating Surplus [Line Items]
 
Marginal Interest in Distribution, Percentage
50.00% 
ACCOUNTS RECEIVABLE, NET (Details) (USD $)
In Millions, unless otherwise specified
Dec. 31, 2015
Dec. 31, 2014
Receivables [Abstract]
 
 
Trade receivables
$ 27.2 
$ 24.7 
Other receivables
6.8 
10.9 
Accounts receivable
34.0 
35.6 
Allowance for doubtful accounts
(0.2)
(0.1)
Accounts receivable, net
$ 33.8 
$ 35.5 
INVENTORY (Details) (USD $)
In Millions, unless otherwise specified
Dec. 31, 2015
Dec. 31, 2014
Inventory Disclosure [Abstract]
 
 
Raw materials
$ 9.1 
$ 6.4 
Finished goods
10.7 
10.4 
Stores inventory
27.1 
26.4 
Inventory, Gross
46.9 
43.2 
Less: Stores inventory reclassed to other non-current assets
(20.5)
(20.7)
Inventory - current
$ 26.4 
$ 22.5 
PROPERTY, PLANT AND EQUIPMENT, NET (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Property, Plant and Equipment [Line Items]
 
 
 
Property, plant, and equipment
$ 811.7 
$ 798.1 
 
Less accumulated depreciation, depletion and amortization
(598.6)
(586.2)
 
Total net book value
213.1 
211.9 
 
Total property, plant, and equipment, net
255.2 
245.0 
 
Depreciation, Depletion and Amortization, Not Including Amortization of Loan Financing Costs
23.7 
22.4 
23.9 
Land and land improvements
 
 
 
Property, Plant and Equipment [Line Items]
 
 
 
Property, plant, and equipment
0.3 
0.3 
 
Depletable land
 
 
 
Property, Plant and Equipment [Line Items]
 
 
 
Property, plant, and equipment
3.0 
3.0 
 
Buildings and building improvements
 
 
 
Property, Plant and Equipment [Line Items]
 
 
 
Property, plant, and equipment
132.5 
129.5 
 
Internal-use computer software
 
 
 
Property, Plant and Equipment [Line Items]
 
 
 
Property, plant, and equipment
4.9 
4.5 
 
Machinery and equipment
 
 
 
Property, Plant and Equipment [Line Items]
 
 
 
Property, plant, and equipment
605.7 
595.5 
 
Mining reserves
 
 
 
Property, Plant and Equipment [Line Items]
 
 
 
Property, plant, and equipment
65.3 
65.3 
 
Construction in progress
 
 
 
Property, Plant and Equipment [Line Items]
 
 
 
Total property, plant, and equipment, net
$ 42.1 
$ 33.1 
 
ACCRUED EXPENSES (Details) (USD $)
In Millions, unless otherwise specified
Dec. 31, 2015
Dec. 31, 2014
Payables and Accruals [Abstract]
 
 
Accrued freight costs
$ 0.1 
$ 1.4 
Accrued energy costs
5.2 
5.7 
Accrued royalty costs
4.8 
4.4 
Accrued employee compensation
4.0 
6.8 
Accrued other taxes
4.6 
4.7 
Accrued derivatives
1.8 
0.7 
Other accruals
4.7 
5.8 
Total
$ 25.2 
$ 29.5 
DEBT - Components of long-term debt (Details) (USD $)
In Millions, unless otherwise specified
Dec. 31, 2015
Dec. 31, 2014
Debt Instrument [Line Items]
 
 
Total debt
$ 110.0 
$ 145.0 
Current portion of long-term debt
Total long-term debt
110.0 
145.0 
Variable Rate Demand Revenue Bonds |
Principal due October 1, 2018
 
 
Debt Instrument [Line Items]
 
 
Interest rate (as a percent)
0.11% 
0.14% 
Total debt
11.4 
11.4 
Variable Rate Demand Revenue Bonds |
Principal due August 1, 2017
 
 
Debt Instrument [Line Items]
 
 
Interest rate (as a percent)
0.11% 
0.14% 
Total debt
8.6 
8.6 
Ciner Wyoming credit facility
 
 
Debt Instrument [Line Items]
 
 
Interest rate (as a percent)
2.07% 
1.98% 
Total debt
$ 90.0 
$ 125.0 
DEBT - Maturities of long-term debt (Details) (USD $)
In Millions, unless otherwise specified
Dec. 31, 2015
Dec. 31, 2014
Debt Disclosure [Abstract]
 
 
2017
$ 8.6 
 
2018
101.4 
 
Total debt
$ 110.0 
$ 145.0 
DEBT - Narrative (Details) (USD $)
12 Months Ended 12 Months Ended 12 Months Ended
Dec. 31, 2015
Dec. 31, 2015
Bank of America, NA
Revolving credit facility
Dec. 31, 2014
Bank of America, NA
Revolving credit facility
Jul. 18, 2013
Bank of America, NA
Revolving credit facility
Dec. 31, 2015
Same Day Swing Line Advances
Bank of America, NA
Revolving credit facility
Dec. 31, 2015
Letters of Credit
Bank of America, NA
Revolving credit facility
Dec. 31, 2015
Minimum
Bank of America, NA
Revolving credit facility
Dec. 31, 2015
Maximum
Bank of America, NA
Revolving credit facility
Dec. 31, 2015
Ciner Wyoming LLC [Member]
Dec. 31, 2015
Ciner Wyoming LLC [Member]
Make certain Investment and acquisitions [Member]
Dec. 31, 2015
Ciner Wyoming LLC [Member]
Incur Certain Liens [Member]
Dec. 31, 2015
Ciner Wyoming LLC [Member]
Transfer, sell or otherwise dispose of assets [Member]
Dec. 31, 2015
Ciner Wyoming LLC [Member]
Bank of America, NA
Revolving credit facility
Jul. 18, 2013
Ciner Wyoming LLC [Member]
Bank of America, NA
Revolving credit facility
Dec. 31, 2015
Ciner Wyoming LLC [Member]
Same Day Swing Line Advances
Bank of America, NA
Revolving credit facility
Dec. 31, 2015
Ciner Wyoming LLC [Member]
Letters of Credit
Bank of America, NA
Revolving credit facility
Dec. 31, 2015
Ciner Wyoming LLC [Member]
Minimum
Bank of America, NA
Revolving credit facility
Dec. 31, 2015
Ciner Wyoming LLC [Member]
Maximum
Bank of America, NA
Revolving credit facility
Dec. 31, 2015
Ciner Resources LP [Member]
Make certain Investment and acquisitions [Member]
Dec. 31, 2015
Ciner Resources LP [Member]
Incur Certain Liens [Member]
Dec. 31, 2015
Ciner Resources LP [Member]
Transfer, sell or otherwise dispose of assets [Member]
Dec. 31, 2015
Standby Letters of Credit
Ciner Wyoming LLC [Member]
Dec. 31, 2014
Standby Letters of Credit
Ciner Wyoming LLC [Member]
Dec. 31, 2016
Forecast
Bank of America, NA
Revolving credit facility
Dec. 31, 2016
Forecast
Ciner Wyoming LLC [Member]
Bank of America, NA
Revolving credit facility
Line of Credit Facility [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revolving credit facility
 
$ 0 
$ 0 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
$ 20,300,000 
$ 20,300,000 
 
 
Line of Credit Facility, Maximum Borrowing Capacity
 
 
 
10,000,000 
 
 
 
 
 
 
 
 
 
190,000,000 
 
 
 
 
 
 
 
 
 
 
 
Line of Credit Facility Additional Borrowing Capacity
 
 
 
 
 
 
 
 
 
 
 
 
75,000,000 
 
 
 
 
 
 
 
 
 
 
 
 
Line of Credit Facility, Capacity Available for Specific Purpose Other than for Trade Purchases
 
 
 
 
5,000,000 
5,000,000 
 
 
 
 
 
 
 
 
20,000,000 
40,000,000 
 
 
 
 
 
 
 
 
 
Consolidated Leverage Ratio
 
 
 
 
 
 
 
 
 
 
 
 
300.00% 
 
 
 
 
 
 
 
 
 
 
 
 
Consolidated Fixed Charge Coverage Ratio
 
105.00% 
 
 
 
 
 
 
 
 
 
 
110.00% 
 
 
 
 
 
 
 
 
 
 
110.00% 
115.00% 
maximum consolidated capital expenditures
 
$ 50,000,000 
 
 
 
 
 
 
 
 
 
 
$ 50,000,000 
 
 
 
 
 
 
 
 
 
 
 
 
Loss of Control Percentage Threshold
50.10% 
 
 
 
 
 
 
 
50.10% 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Debt Instrument, Basis Spread on Variable Rate
 
 
 
 
 
 
0.50% 
1.00% 
 
 
 
 
 
 
 
 
0.50% 
1.00% 
 
 
 
 
 
 
 
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage
 
 
 
 
 
 
0.275% 
0.35% 
 
 
 
 
 
 
 
 
0.275% 
0.35% 
 
 
 
 
 
 
 
Debt Instrument, Restrictive Covenants
 
 
 
 
 
 
 
 
 
10 
2.5 
 
 
 
 
 
 
200000 
500000 
 
 
 
 
OTHER NON-CURRENT LIABILITIES (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Asset Retirement Obligation Disclosure [Abstract]
 
 
Reclamation reserve
$ 4.5 
$ 4.2 
Derivative instruments and hedges, fair value liabilities
2.3 
Total
6.8 
4.2 
Reclamation reserve
 
 
Reclamation reserve balance at beginning of year
4.2 
3.8 
Accretion expense
0.3 
0.4 
Reclamation reserve balance at end of year
$ 4.5 
$ 4.2 
EMPLOYEE COMPENSATION (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Average compensation period
60 months 
 
 
Period of last service
120 months 
 
 
Pension
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Net periodic pension cost
$ 7.7 
$ 3.1 
$ 8.4 
Other Pension Plan, Postretirement or Supplemental Plans [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Contributions by Ciner Resources Corp
2.6 
2.4 
2.8 
Postretirement benefit
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Plan Amendments
 
 
8.7 
Prior service credit
 
 
(7.7)
Benefit obligation
21.3 
22.8 
 
Pension and Other Postretirement Benefit Expense
$ (0.5)
$ (0.3)
$ (0.1)
EQUITY - BASED COMPENSATION (Narrative) (Details) (USD $)
In Millions, except Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
Number of shares authorized
878,902 
 
Equity-based compensation plan activity
$ 0.5 
$ 0.4 
Director - non employee
 
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
Units granted
11,064 
7,941 
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value
$ 22.54 
$ 22.07 
Equity-based compensation plan activity
$ 0.2 
$ 0.2 
Restricted Unit Awards
 
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value
$ 24.06 
$ 25.54 
Restricted Unit Awards |
Minimum
 
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
Vesting period
1 year 
 
Restricted Unit Awards |
Maximum
 
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
Vesting period
3 years 
 
TSR Unit Performance Awards
 
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value
$ 30.34 
$ 0.00 
TSR Unit Performance Awards |
Minimum
 
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
Vesting period
2 years 
 
Payout range
0.00% 
 
TSR Unit Performance Awards |
Maximum
 
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
Vesting period
3 years 
 
Payout range
200.00% 
 
EQUITY - BASED COMPENSATION (Details) (USD $)
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Restricted Unit Awards
 
 
 
Number of Units
 
 
 
Nonvested at
15,859 
 
Granted
8,347 
19,960 
 
Vested
(24,206)
(4,101)
 
Nonvested at
15,859 
 
Grant-Date Average Fair Value per Unit
 
 
 
Nonvested at
$ 0.00 
$ 25.23 
$ 0.00 
Granted
$ 22.51 
$ 25.01 
 
Vested
$ 24.06 
$ 25.54 
 
Nonvested at
$ 0.00 
$ 25.23 
$ 0.00 
TSR Unit Performance Awards
 
 
 
Number of Units
 
 
 
Nonvested at
7,658 
 
Granted
7,235 
7,658 
 
Vested
(29,786)
 
Performance adjustments
14,893 
 
Nonvested at
7,658 
 
Grant-Date Average Fair Value per Unit
 
 
 
Nonvested at
$ 0.00 
$ 35.72 
$ 0.00 
Granted
$ 24.64 
$ 35.72 
 
Vested
$ 30.34 
$ 0.00 
 
Performance adjustments
$ 30.34 
$ 0.00 
 
Nonvested at
$ 0.00 
$ 35.72 
$ 0.00 
ACCUMULATED OTHER COMPREHENSIVE LOSS (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
AOCI Attributable to Parent, Net of Tax [Roll Forward]
 
 
 
Accumulated other comprehensive loss, beginning
$ (0.4)
$ (0.3)
$ (0.2)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax
(2.4)
(0.7)
(0.5)
Total reclassifications for the period
0.7 
0.6 
0.4 
Other Comprehensive Income (Loss), Net of Tax
(1.7)
(0.1)
(0.1)
Accumulated other comprehensive loss, ending
(2.1)
(0.4)
(0.3)
Income (loss) on derivative financial instruments
(3.4)
(0.2)
Interest expense
4.0 
5.2 
2.9 
Cost of products sold
210.3 
201.6 
202.4 
Total reclassifications for the period
0.7 
0.6 
0.4 
Interest rate swap contracts
 
 
 
AOCI Attributable to Parent, Net of Tax [Roll Forward]
 
 
 
Income (loss) on derivative financial instruments
(0.2)
Interest rate swap contracts |
Reclassification out of Accumulated Other Comprehensive Income
 
 
 
AOCI Attributable to Parent, Net of Tax [Roll Forward]
 
 
 
Interest expense
0.5 
0.6 
0.4 
Mark to market adjustment on natural gas forward contracts
 
 
 
AOCI Attributable to Parent, Net of Tax [Roll Forward]
 
 
 
Income (loss) on derivative financial instruments
(3.4)
Natural gas forward contracts |
Reclassification out of Accumulated Other Comprehensive Income
 
 
 
AOCI Attributable to Parent, Net of Tax [Roll Forward]
 
 
 
Cost of products sold
$ 0.2 
$ 0 
$ 0 
INCOME TAXES - Provision (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Income Tax Disclosure [Abstract]
 
 
 
Current
 
 
$ 6.8 
Deferred
0.3 
Total provision for income tax
$ 0 
$ 0 
$ 7.1 
INCOME TAXES - Effective Tax Rate Reconciliation (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Amount
 
 
 
Income tax provision at federal statutory rate
 
 
$ 7.1 
State and local income taxes net of federal tax benefit
 
 
0.5 
Permanent domestic production activity deduction
 
 
(0.4)
Other
 
 
(0.1)
Total provision for income tax
$ 0 
$ 0 
$ 7.1 
Rate Effect
 
 
 
Income tax provision at federal statutory rate
 
 
35.00% 
State and local income taxes net of federal tax benefit
 
 
2.36% 
Permanent domestic production activity deduction
 
 
(2.06%)
Other
 
 
(0.27%)
Total provision for income tax
 
 
35.03% 
COMMITMENTS AND CONTINGENCIES - Narrative (Details) (USD $)
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Other Commitments [Line Items]
 
 
 
Operating Leases, Rent Expense
$ 12,400,000 
$ 9,500,000 
$ 10,200,000 
Annual rent
60,000 
 
 
Purchase Obligation, Fiscal Year Maturity [Abstract]
 
 
 
Average annual cost
3,200,000 
 
 
Easement
 
 
 
Other Commitments [Line Items]
 
 
 
Annual rent
15,000 
 
 
Self-bond agreement for reclamation costs
 
 
 
Purchase Obligation, Fiscal Year Maturity [Abstract]
 
 
 
Off balance sheet commitment
33,900,000 
 
 
Watco Companies, LLC
 
 
 
Other Commitments [Line Items]
 
 
 
Leases term
10 years 
 
 
Rock Springs Grazing Association
 
 
 
Other Commitments [Line Items]
 
 
 
Renewal term
5 years 
 
 
Total renewal term
30 years 
 
 
Union Pacific Company
 
 
 
Other Commitments [Line Items]
 
 
 
Leases term
10 years 
 
 
Commodity
 
 
 
Other Commitments [Line Items]
 
 
 
Leases term
5 years 
 
 
Purchase Obligation, Fiscal Year Maturity [Abstract]
 
 
 
Purchase Obligation
82,600,000 
 
 
Purchase Obligation, Due in 2016
24,100,000 
 
 
Purchase Obligation, Due in 2017
19,900,000 
 
 
Purchase Obligation, Due in 2018
17,400,000 
 
 
Purchase Obligation, Due in 2019
11,600,000 
 
 
Purchase Obligation, Due in 2020
$ 9,500,000 
 
 
COMMITMENTS AND CONTINGENCIES - Commitments (Details) (USD $)
In Millions, unless otherwise specified
Dec. 31, 2015
Other Commitments [Line Items]
 
2016
$ 0.15 
2017
0.15 
2018
0.15 
2019
0.15 
2020
0.15 
Thereafter
1.53 
Total
2.3 
Rail Car Lease
 
Other Commitments [Line Items]
 
2016
12.00 
2017
10.50 
2018
9.30 
2019
8.30 
2020
5.40 
Thereafter
5.70 
Leased Land
 
Other Commitments [Line Items]
 
2016
0.08 
2017
0.08 
2018
0.08 
2019
0.08 
2020
0.08 
Thereafter
1.50 
Total
1.9 
Track Leases
 
Other Commitments [Line Items]
 
2016
0.07 
2017
0.07 
2018
0.07 
2019
0.07 
2020
0.07 
Thereafter
0.03 
Total
$ 0.4 
AGREEMENTS AND TRANSACTIONS WITH AFFILIATES - Costs charged by affiliates (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Related Party Transaction [Line Items]
 
 
 
Total selling, general and administrative expenses - Affiliates
$ 15.7 
$ 17.0 
$ 12.5 
Cost of products sold
210.3 
201.6 
202.4 
OCI Enterprises
 
 
 
Related Party Transaction [Line Items]
 
 
 
Total selling, general and administrative expenses - Affiliates
6.1 
10.7 
5.5 
Ciner Corp
 
 
 
Related Party Transaction [Line Items]
 
 
 
Total selling, general and administrative expenses - Affiliates
5.8 
3.4 
4.4 
ANSAC
 
 
 
Related Party Transaction [Line Items]
 
 
 
Total selling, general and administrative expenses - Affiliates
3.8 
2.9 
2.6 
Cost of products sold
$ 8.2 
$ 9.2 
$ 6.7 
AGREEMENTS AND TRANSACTIONS WITH AFFILIATES - Net sales to affiliates (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Related Party Transaction [Line Items]
 
 
 
Total
$ 265.3 
$ 236.7 
$ 211.6 
ANSAC
 
 
 
Related Party Transaction [Line Items]
 
 
 
Total
261.0 
230.8 
200.4 
OCI Alabama LLC
 
 
 
Related Party Transaction [Line Items]
 
 
 
Total
4.3 
5.9 
7.3 
OCI Company Limited
 
 
 
Related Party Transaction [Line Items]
 
 
 
Total
$ 0 
$ 0 
$ 3.9 
AGREEMENTS AND TRANSACTIONS WITH AFFILIATES - Receivables from or payables to affiliates (Details) (USD $)
In Millions, unless otherwise specified
Dec. 31, 2015
Dec. 31, 2014
Related Party Transaction [Line Items]
 
 
Due from affiliates
$ 11.9 
$ 19.6 
Due to affiliates
4.6 
7.1 
OCI Enterprises
 
 
Related Party Transaction [Line Items]
 
 
Due from affiliates
1.7 
Due to affiliates
4.5 
Ciner Corp
 
 
Related Party Transaction [Line Items]
 
 
Due from affiliates
7.1 
8.7 
Due to affiliates
1.9 
1.4 
Ciner Resources Europe N.V.
 
 
Related Party Transaction [Line Items]
 
 
Due from affiliates
4.8 
9.2 
Due to affiliates
Other
 
 
Related Party Transaction [Line Items]
 
 
Due from affiliates
Due to affiliates
2.7 
1.2 
OCI Enterprises and subs [Member]
 
 
Related Party Transaction [Line Items]
 
 
Accounts Receivable, Related Parties
0.6 
 
Accounts Payable, Related Parties
$ 0.5 
 
MAJOR CUSTOMERS AND SEGMENT REPORTING - Narrative (Details)
12 Months Ended
Dec. 31, 2015
segment
Dec. 31, 2014
segment
Segment Reporting [Abstract]
 
 
Number of operating segments
MAJOR CUSTOMERS AND SEGMENT REPORTING - Sales by geographic area (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Sales by geographical area
 
 
 
Sales
$ 486.4 
$ 465.0 
$ 442.1 
Domestic
 
 
 
Sales by geographical area
 
 
 
Sales
194.0 
194.8 
195.1 
International
 
 
 
Sales by geographical area
 
 
 
Sales
292.4 
270.2 
247.0 
International |
ANSAC
 
 
 
Sales by geographical area
 
 
 
Sales
261.0 
230.8 
200.4 
International |
Other
 
 
 
Sales by geographical area
 
 
 
Sales
$ 31.4 
$ 39.4 
$ 46.6 
FAIR VALUE MEASUREMENTS (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2015
Level 2
Forward Contracts
Dec. 31, 2014
Level 2
Forward Contracts
Dec. 31, 2015
Fair Value, Measurements, Recurring
Level 2
Dec. 31, 2014
Fair Value, Measurements, Recurring
Level 2
Dec. 31, 2015
Fair Value, Measurements, Recurring
Level 2
Interest Rate Swap
Dec. 31, 2014
Fair Value, Measurements, Recurring
Level 2
Interest Rate Swap
Dec. 31, 2015
Fair Value, Measurements, Recurring
Level 2
Commodity Contract
Dec. 31, 2014
Fair Value, Measurements, Recurring
Level 2
Commodity Contract
Dec. 31, 2015
Fair Value, Measurements, Recurring
Level 2
Forward Contracts
Dec. 31, 2014
Fair Value, Measurements, Recurring
Level 2
Forward Contracts
Dec. 31, 2015
Reclassification out of Accumulated Other Comprehensive Income
Interest Rate Swap
Dec. 31, 2015
Reclassification out of Accumulated Other Comprehensive Income
Commodity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Derivative aggregate notional value
 
 
 
 
 
 
$ 74.0 
$ 76.0 
$ 15.8 
 
$ 4.2 
$ 6.9 
 
 
Cost of Products Sold Expected to Be Recognized Over the Next 12 Months
 
 
 
 
 
 
 
 
 
 
 
 
 
1.0 
Interest expense
 
 
 
 
 
 
 
 
 
 
 
 
0.7 
 
Derivative, Fair Value, Net
 
 
 
 
 
 
0.8 
0.7 
1.0 
 
 
 
 
Derivative Liability, Noncurrent
2.3 
 
 
 
 
 
 
2.3 
 
 
 
 
Cash Flow Hedge Derivative Instrument Liabilities at Fair Value
 
 
 
 
4.1 
0.7 
 
 
 
 
 
 
 
 
Derivative Asset, Current
 
 
0.1 
0.6 
 
 
 
 
 
 
 
 
 
 
Derivative Instruments Not Designated as Hedging Instruments, Asset, at Fair Value
0.1 
0.6 
 
 
 
 
 
 
 
 
 
 
 
 
Derivative Instruments and Hedges, Assets
0.1 
0.6 
 
 
 
 
 
 
 
 
 
 
 
 
Derivative Instruments and Hedges, Liabilities
$ 4.1 
$ 0.7 
 
 
 
 
 
 
 
 
 
 
 
 
SUBSEQUENT EVENTS (Details) (USD $)
In Millions, except Share data, unless otherwise specified
12 Months Ended 0 Months Ended 1 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Feb. 19, 2016
Subsequent Event
Feb. 12, 2016
Subsequent Event
Feb. 5, 2016
Subsequent Event
Subsequent Event [Line Items]
 
 
 
 
 
 
Cash distribution
 
 
 
 
 
$ 25.0 
Cash distribution declared per unit
$ 2.191 
$ 2.057 
$ 0.571 
 
$ 0.5575 
 
Stock Issued During Period, Shares, Share-based Compensation, Gross
 
 
 
33,383 
 
 
Stock Granted, Value, Share-based Compensation, Gross
 
 
 
$ 0.7