自然资源合作伙伴公司 2025年季度报告

FORM10-Q ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 NATURAL RESOURCE PARTNERS LP Delaware35-2164875(State or other jurisdiction ofincorporation or organization)(I.R.S. EmployerIdentification No.)1415 Louisiana Street, Suite 3325Houston,Texas77002(Address of principal executive offices)(Zip Code)(713)751-7507(Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant: (1)has filed all reports required to be filed by Section13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file suchreports), and (2)has been subject to such filing requirements for the past 90 days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period thatthe registrant was required to submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smallerreporting company, or an emerging growth company. See definition of "accelerated filer", "large accelerated filer", "smallerreporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act. Large Accelerated Filer☒Non-accelerated Filer☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).Yes☐No☒ APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PRECEDING FIVEYEARS: Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Section 12, 13 or 15(d) ofthe Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court.Yes☐No☐ APPLICABLE ONLY TO CORPORATE ISSUERS Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date. NATURAL RESOURCE PARTNERS, L.P.TABLE OF CONTENTS Part I. Financial Information Item1.Consolidated Financial StatementsConsolidated Balance SheetsConsolidated Statements of Comprehensive IncomeConsolidated Statements of Partners’CapitalConsolidated Statements of Cash FlowsNotes to Consolidated Financial StatementsItem2.Management’s Discussion and Analysis of Financial Condition and Results of OperationsItem3.Quantitative and Qualitative Disclosures About Market RiskItem4.Controls and ProceduresPart II. Other Information Item1.Legal ProceedingsItem1A.Risk FactorsItem2.Unregistered Sales of Equity Securities and Use of ProceedsItem3.Defaults Upon Senior SecuritiesItem4.Mine Safety DisclosuresItem5.Other InformationItem6.ExhibitsSignatures PART I. FINANCIAL INFORMATIONITEM 1. CONSOLIDATED FINANCIAL STATEMENTS NATURAL RESOURCE PARTNERS L.P.CONSOLIDATED BALANCE SHEETS NATURAL RESOURCE PARTNERS L.P.CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME(Unaudited) NATURAL RESOURCE PARTNERS L.P.CONSOLIDATED STATEMENTS OF PARTNERS’CAPITAL(Unaudited) NATURAL RESOURCE PARTNERS L.P.CONSOLIDATED STATEMENTS OF PARTNERS’CAPITAL(Unaudited) (3)Net income includes $0.66 million of income attributable to preferred unitholders that accumulated during the period, ofwhich $0.64 million is allocated to the common unitholders and $0.01 million is allocated to the general partner. The accompanying notes are an integral part of these consolidated financial statements. NATURAL RESOURCE PARTNERS L.P.CONSOLIDATED STATEMENTS OF CASH FLOWS(Unaudited) NATURAL RESOURCE PARTNERS L.P.NOTES TO CONSOLIDATED FINANCIAL STATEMENTS(Unaudited) 1.Basis of Presentation Nature of Business Natural Resource Partners L.P. (the "Partnership") engages principally in the business of owning, managing and leasing adiversified portfolio of mineral properties in the United States, including interests in coal and other natural resources and owns anon-controlling49% interest in Sisecam Wyoming LLC ("Sisecam Wyoming"), a trona ore mining and soda ash productionbusiness.The Partnership is organized intotwooperating segments further described inNote6.Segment Information. ThePartnership’s operations are conducted through, and its operating assets are owned by, its subsidiaries. The Partnership owns itssubsidiaries throughone wholly owned operating company, NRP (Operating) LLC ("Opco"). As used in these Notes toConsolidated Financial Statements, the terms "NRP," "we," "us" and "our" refer to Natural Resou