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Segment Information | 12 Months Ended
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Dec. 31, 2019
Disclosure of entity's operating segments [Abstract] |
Segmented Information |
26. SEGMENTED INFORMATION |  |
Operating segments are determined by the way information is reported and used by the Company's Chief Operating Decision Maker ("CODM") to review operating performance. The Company has determined that each producing mine and significant development property represents a reportable segment. The Company has organized its reportable segments by significant revenue streams and geographic regions. Significant information relating to the Company’s reportable segments is summarized in the table below:
For the year ended December 31, 2019 |  |  |  |  |  |  |  |
Segment/Country | Mine |  | Revenue |  | Production costs and royalties |  | Depreciation |  | Mine operating earnings |  | Capital expenditures
Silver Segment: |  |  |  |  |  |  |  |  |  |  |
Mexico | Dolores |  | $ | 248,744 |  |  | $ | 191,320 |  |  | $ | 104,701 |  |  | $ | (47,277 | ) |  | $ | 47,722 |
| La Colorada |  | 177,698 |  |  | 75,139 |  |  | 23,175 |  |  | 79,384 |  |  | 20,139 |
Peru | Huaron |  | 117,118 |  |  | 76,962 |  |  | 13,638 |  |  | 26,518 |  |  | 8,013 |
| Morococha |  | 101,549 |  |  | 73,396 |  |  | 15,482 |  |  | 12,671 |  |  | 10,703 |
Bolivia | San Vicente |  | 76,968 |  |  | 57,805 |  |  | 9,449 |  |  | 9,714 |  |  | 4,938 |
Argentina | Manantial Espejo |  | 63,289 |  |  | 63,432 |  |  | 5,854 |  |  | (5,997 | ) |  | 23,909 |
Guatemala | Escobal |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,107 |
Total Silver Segment |  |  | 785,366 |  |  | 538,054 |  |  | 172,299 |  |  | 75,013 |  |  | 116,531 |
Gold Segment: |  |  |  |  |  |  |  |  |  |  |
Peru | Shahuindo |  | 189,372 |  |  | 90,877 |  |  | 28,649 |  |  | 69,846 |  |  | 31,239 |
| La Arena |  | 174,803 |  |  | 99,915 |  |  | 14,873 |  |  | 60,015 |  |  | 47,557 |
Canada | Timmins |  | 201,218 |  |  | 139,172 |  |  | 36,302 |  |  | 25,744 |  |  | 10,346 |
Total Gold Segment |  |  | 565,393 |  |  | 329,964 |  |  | 79,824 |  |  | 155,605 |  |  | 89,142 |
Other segment: |  |  |  |  |  |  |  |  |  |  |
Canada | Pas Corp |  | — |  |  | — |  |  | 488 |  |  | (488 | ) |  | 125 |
Argentina | Navidad |  | — |  |  | — |  |  | — |  |  | — |  |  | 9 |
Other | Other |  | — |  |  | — |  |  | 842 |  |  | (842 | ) |  | — |
Total |  |  | $ | 1,350,759 |  |  | $ | 868,018 |  |  | $ | 253,453 |  |  | $ | 229,288 |  |  | $ | 205,807 |
For the year ended December 31, 2018 |  |  |  |  |  |  |  |
Segment/Country | Mine |  | Revenue |  | Production costs and royalties |  | Depreciation |  | Mine operating earnings |  | Capital expenditures
Silver Segment: |  |  |  |  |  |  |  |  |  |  |
Mexico | Dolores |  | $ | 236,835 |  |  | $ | 187,920 |  |  | $ | 83,620 |  |  | $ | (34,705 | ) |  | $ | 59,480 |
| La Colorada |  | 164,050 |  |  | 70,864 |  |  | 22,567 |  |  | 70,619 |  |  | 22,473 |
Peru | Huaron |  | 114,739 |  |  | 75,382 |  |  | 12,867 |  |  | 26,490 |  |  | 14,551 |
| Morococha |  | 117,517 |  |  | 68,066 |  |  | 15,476 |  |  | 33,975 |  |  | 10,370 |
Bolivia | San Vicente |  | 60,503 |  |  | 43,405 |  |  | 6,200 |  |  | 10,898 |  |  | 6,949 |
Argentina | Manantial Espejo |  | 90,851 |  |  | 90,672 |  |  | 6,084 |  |  | (5,905 | ) |  | 29,881 |
Total Silver Segment |  |  | 784,495 |  |  | 536,309 |  |  | 146,814 |  |  | 101,372 |  |  | 143,704 |
Other segment: |  |  |  |  |  |  |  |  |  |  |
Canada | Pas Corp |  | — |  |  | — |  |  | 145 |  |  | (145 | ) |  | 440 |
Argentina | Navidad |  | — |  |  | — |  |  | — |  |  | — |  |  | 39 |
Other | Other |  | — |  |  | — |  |  | 330 |  |  | (330 | ) |  | 165 |
Total |  |  | $ | 784,495 |  |  | $ | 536,309 |  |  | $ | 147,289 |  |  | $ | 100,897 |  |  | $ | 144,348 |
A reconciliation of segment mine operating earnings to the Company’s earnings before income taxes per the Consolidated Income Statements is as follows:
|  | 2019 |  |  | 2018 |
Mine operating earnings |  | 229,288 |  |  | 100,897 |
General and administrative |  | $ | (31,752 | ) |  | $ | (22,649 | )
Exploration and project development |  | $ | (11,684 | ) |  | $ | (11,138 | )
Mine care and maintenance |  | $ | (23,662 | ) |  | $ | — |
Foreign exchange losses |  | $ | (5,003 | ) |  | $ | (9,326 | )
Impairment charges (Note 13) |  | $ | (40,050 | ) |  | $ | (27,789 | )
Gains on commodity and foreign currency contracts (Note 9) |  | $ | 3,315 |  |  | $ | 4,930 |
Gains on sale of mineral properties, plant and equipment (Note 12) |  | $ | 3,858 |  |  | $ | 7,973 |
Share of income from associate and dilution gain (Note 14) |  | $ | 15,245 |  |  | $ | 13,679 |
Transaction and integration costs (Note 8) |  | $ | (7,515 | ) |  | $ | (10,229 | )
Other expense (Note 27) |  | $ | (4,936 | ) |  | $ | (3,659 | )
Earnings from operations |  | $ | 127,104 |  |  | $ | 42,689 |
Loss on derivatives (Note 9) |  | $ | (14 | ) |  | $ | (1,078 | )
Investment income (loss) |  | $ | 84,704 |  |  | $ | (284 | )
Interest and finance expense (Note 23) |  | $ | (29,282 | ) |  | $ | (8,139 | )
Earnings before income taxes |  | 182,512 |  |  | 33,188 |
At December 31, 2019 |  |  |  |  |  |
Segment/Country | Mine |  | Assets |  | Liabilities |  | Net assets
Silver Segment: |  |  |  |  |  |  |
Mexico | Dolores |  | $ | 763,301 |  |  | $ | 137,396 |  |  | $ | 625,905 |
| La Colorada |  | $ | 223,416 |  |  | $ | 46,476 |  |  | $ | 176,940 |
Peru | Huaron |  | $ | 110,642 |  |  | $ | 39,962 |  |  | $ | 70,680 |
| Morococha |  | $ | 128,280 |  |  | $ | 36,754 |  |  | $ | 91,526 |
Bolivia | San Vicente |  | $ | 76,418 |  |  | $ | 35,331 |  |  | $ | 41,087 |
Argentina | Manantial Espejo |  | $ | 77,635 |  |  | $ | 27,455 |  |  | $ | 50,180 |
Guatemala | Escobal |  | $ | 293,178 |  |  | $ | 19,340 |  |  | $ | 273,838 |
Total Silver Segment |  |  | 1,672,870 |  |  | 342,714 |  |  | 1,330,156 |
Gold Segment: |  |  |  |  |  |  |
Peru | Shahuindo |  | $ | 600,096 |  |  | $ | 162,821 |  |  | $ | 437,275 |
| La Arena |  | $ | 282,978 |  |  | $ | 90,472 |  |  | $ | 192,506 |
Canada | Timmins |  | $ | 429,060 |  |  | $ | 50,171 |  |  | $ | 378,889 |
Total Gold Segment |  |  | 1,312,134 |  |  | 303,464 |  |  | 1,008,670 |
Other segment: |  |  |  |  |  |  |
Canada | Pas Corp |  | $ | 229,814 |  |  | $ | 304,184 |  |  | $ | (74,370 | )
Argentina | Navidad |  | $ | 193,034 |  |  | $ | — |  |  | $ | 193,034 |
| Other |  | $ | 53,830 |  |  | $ | 43,474 |  |  | $ | 10,356 |
Total |  |  | $ | 3,461,682 |  |  | $ | 993,836 |  |  | $ | 2,467,846 |
At December 31, 2018 |  |  |  |  |  |
Segment/Country | Mine |  | Assets |  | Liabilities |  | Net assets
Silver Segment: |  |  |  |  |  |  |
Mexico | Dolores |  | $ | 791,485 |  |  | $ | 150,003 |  |  | $ | 641,482 |
| La Colorada |  | $ | 230,736 |  |  | $ | 56,206 |  |  | $ | 174,530 |
Peru | Huaron |  | $ | 119,015 |  |  | $ | 44,055 |  |  | $ | 74,960 |
| Morococha |  | $ | 126,755 |  |  | $ | 40,183 |  |  | $ | 86,572 |
Bolivia | San Vicente |  | $ | 83,686 |  |  | $ | 38,169 |  |  | $ | 45,517 |
Argentina | Manantial Espejo |  | $ | 20,839 |  |  | $ | 24,994 |  |  | $ | (4,155 | )
|  |  | 1,372,516 |  |  | 353,610 |  |  | 1,018,906 |
Other segment: |  |  |  |  |  |  |
Canada | Pas Corp |  | $ | 247,792 |  |  | $ | 30,221 |  |  | $ | 217,571 |
Argentina | Navidad |  | $ | 193,777 |  |  | $ | 1,546 |  |  | $ | 192,231 |
| Other |  | $ | 123,391 |  |  | $ | 38,750 |  |  | $ | 84,641 |
|  |  | $ | 1,937,476 |  |  | $ | 424,127 |  |  | $ | 1,513,349 |
Product Revenue |  | 2019 |  |  | 2018 |
Refined silver and gold |  | 894,202 |  |  | 348,717 |
Zinc concentrate |  | 134,992 |  |  | 155,412 |
Lead concentrate |  | 183,343 |  |  | 150,832 |
Copper concentrate |  | 78,865 |  |  | 86,599 |
Silver concentrate |  | 59,357 |  |  | 42,935 |
Total |  | 1,350,759 |  |  | 784,495 |
The Company has 23 customers that account for 100% of the concentrate and silver and gold sales revenue. The Company has 7 customers that accounted for 15%, 15%, 13%, 13%, 9%, 8%, and 8% of total sales in 2019, and 7 customers that accounted for 28%, 14%, 13%, 10%, 8%, 8%, and 5% of total sales in 2018. The loss of certain of these customers or curtailment of purchases by such customers could have a material adverse effect on the Company’s financial performance, financial position, and cash flows.

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