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Segment Reporting (Tables) | 12 Months Ended
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Dec. 31, 2013
Segment Reporting [Abstract] |
Financial information relating to the reporting segments | Financial information relating to the Company’s segments is as follows (in thousands):
Year ended December 31, 2013 | Palmarejo Mine |  | San Bartolomé Mine |  | Kensington Mine |  | Rochester Mine |  | Martha Mine |  | La Preciosa |  | Coeur Capital |  | Other |  | Total
Sales of metals | $ | 324,040 |  |  | $ | 141,721 |  |  | $ | 148,769 |  |  | $ | 119,254 |  |  | $ | (661 | ) |  | $ | — |  |  | $ | 12,871 |  |  | $ | — |  |  | $ | 745,994 |
Production costs applicable to sales | (188,572 | ) |  | (86,827 | ) |  | (104,575 | ) |  | (77,869 | ) |  | — |  |  | — |  |  | (5,818 | ) |  | (2 | ) |  | (463,663 | )
Amortization | (134,240 | ) |  | (19,565 | ) |  | (63,216 | ) |  | (10,571 | ) |  | (438 | ) |  | (24 | ) |  | (3,755 | ) |  | (1,070 | ) |  | (232,879 | )
Gross profit (loss) | 1,228 |  |  | 35,329 |  |  | (19,022 | ) |  | 30,814 |  |  | (1,099 | ) |  | (24 | ) |  | 3,298 |  |  | (1,072 | ) |  | 49,452 |
Exploration expense | 7,161 |  |  | 111 |  |  | 4,199 |  |  | 2,653 |  |  | 4,485 |  |  | 80 |  |  | 2,069 |  |  | 1,602 |  |  | 22,360 |
Write-downs | 642,094 |  |  | — |  |  | 130,694 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 205 |  |  | 772,993 |
Other operating expenses | — |  |  | 5,743 |  |  | 269 |  |  | 34,584 |  |  | 2,650 |  |  | 3,237 |  |  | 1,397 |  |  | 51,378 |  |  | 99,258 |
OPERATING INCOME (LOSS) | (648,027 | ) |  | 29,475 |  |  | (154,184 | ) |  | (6,423 | ) |  | (8,234 | ) |  | (3,341 | ) |  | (168 | ) |  | (54,257 | ) |  | (845,159 | )
Interest and other income, net | 906 |  |  | 2,582 |  |  | (187 | ) |  | (318 | ) |  | 865 |  |  | 15 |  |  | (19,474 | ) |  | 10,626 |  |  | (4,985 | )
Interest expense, net | (15,123 | ) |  | (74 | ) |  | (424 | ) |  | (20 | ) |  | (1 | ) |  | — |  |  | — |  |  | (25,661 | ) |  | (41,303 | )
Fair value adjustments, net | 76,218 |  |  | — |  |  | 7,480 |  |  | 416 |  |  | — |  |  | — |  |  | — |  |  | (1,346 | ) |  | 82,768 |
Income tax (provision) benefit | 107,748 |  |  | (10,938 | ) |  | (1 | ) |  | (2,332 | ) |  | (137 | ) |  | (20,856 | ) |  | 2,179 |  |  | 82,453 |  |  | 158,116 |
Net income (loss) | $ | (478,278 | ) |  | $ | 21,045 |  |  | $ | (147,316 | ) |  | $ | (8,677 | ) |  | $ | (7,507 | ) |  | $ | (24,182 | ) |  | $ | (17,463 | ) |  | $ | 11,815 |  |  | $ | (650,563 | )
Segment assets(1) | $ | 1,164,852 |  |  | $ | 289,272 |  |  | $ | 343,144 |  |  | $ | 176,789 |  |  | $ | 6,168 |  |  | $ | 410,335 |  |  | $ | 62,678 |  |  | $ | 105,581 |  |  | $ | 2,558,819 |
Capital expenditures | $ | 33,730 |  |  | $ | 11,568 |  |  | $ | 21,404 |  |  | $ | 29,406 |  |  | $ | 10 |  |  | $ | 1,122 |  |  | $ | — |  |  | $ | 3,573 |  |  | $ | 100,813 |
(1) Segment assets consist of receivables, prepaids, inventories, property, plant and equipment, and mining properties
Year ended December 31, 2012 | Palmarejo Mine |  | San Bartolomé Mine |  | Kensington Mine |  | Rochester Mine |  | Martha Mine |  | Coeur Capital |  | Other |  | Total
Sales of metals | $ | 442,098 |  |  | $ | 178,005 |  |  | $ | 110,987 |  |  | $ | 132,392 |  |  | $ | 13,162 |  |  | $ | 18,848 |  |  | $ | — |  |  | $ | 895,492 |
Production costs applicable to sales | (197,478 | ) |  | (71,428 | ) |  | (87,089 | ) |  | (72,061 | ) |  | (17,682 | ) |  | (8,824 | ) |  | — |  |  | (454,562 | )
Amortization | (146,595 | ) |  | (16,709 | ) |  | (41,645 | ) |  | (8,065 | ) |  | (692 | ) |  | (4,632 | ) |  | (519 | ) |  | (218,857 | )
Gross profit (loss) | 98,025 |  |  | 89,868 |  |  | (17,747 | ) |  | 52,266 |  |  | (5,212 | ) |  | 5,392 |  |  | (519 | ) |  | 222,073 |
Exploration expense | 7,575 |  |  | 159 |  |  | 3,283 |  |  | 3,591 |  |  | 8,648 |  |  | 1,056 |  |  | 1,958 |  |  | 26,270 |
Write-downs | — |  |  | — |  |  | — |  |  | — |  |  | 5,825 |  |  | — |  |  | — |  |  | 5,825 |
Other operating expenses | 11 |  |  | 80 |  |  | 74 |  |  | 1,401 |  |  | 2,108 |  |  | (736 | ) |  | 31,300 |  |  | 34,238 |
OPERATING INCOME (LOSS) | 90,439 |  |  | 89,629 |  |  | (21,104 | ) |  | 47,274 |  |  | (21,793 | ) |  | 5,072 |  |  | (33,777 | ) |  | 155,740 |
Interest and other income, net | 4,017 |  |  | 9,719 |  |  | (77 | ) |  | 358 |  |  | (1,153 | ) |  | (77 | ) |  | 1,649 |  |  | 14,436 |
Interest expense, net | (18,938 | ) |  | (72 | ) |  | (2,972 | ) |  | (26 | ) |  | (3 | ) |  | — |  |  | (4,158 | ) |  | (26,169 | )
Loss on debt extinguishment | — |  |  | — |  |  | (1,036 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (1,036 | )
Fair value adjustments, net | (31,054 | ) |  | — |  |  | 4,089 |  |  | — |  |  | — |  |  | — |  |  | 3,478 |  |  | (23,487 | )
Income tax (provision) benefit | (18,066 | ) |  | (44,632 | ) |  | — |  |  | (2,195 | ) |  | 976 |  |  | (327 | ) |  | (6,563 | ) |  | (70,807 | )
Net income (loss) | $ | 26,398 |  |  | $ | 54,644 |  |  | $ | (21,100 | ) |  | $ | 45,411 |  |  | $ | (21,973 | ) |  | $ | 4,668 |  |  | $ | (39,371 | ) |  | $ | 48,677 |
Segment assets(1) | $ | 1,905,269 |  |  | $ | 302,922 |  |  | $ | 508,658 |  |  | $ | 104,373 |  |  | $ | 9,813 |  |  | $ | 32,656 |  |  | $ | 110,365 |  |  | $ | 2,974,056 |
Capital expenditures | $ | 38,456 |  |  | $ | 25,672 |  |  | $ | 36,994 |  |  | $ | 11,794 |  |  | $ | 1,193 |  |  | $ | — |  |  | $ | 1,532 |  |  | $ | 115,641 |
(1) Segment assets consist of receivables, prepaids, inventories, property, plant and equipment, and mining properties
Year ended December 31, 2011 | Palmarejo Mine |  | San Bartolomé Mine |  | Kensington Mine |  | Rochester Mine |  | Martha Mine |  | Coeur Capital |  | Other |  | Total
Sales of metals | $ | 513,097 |  |  | $ | 267,502 |  |  | $ | 151,186 |  |  | $ | 57,331 |  |  | $ | 13,347 |  |  | $ | 18,737 |  |  | $ | — |  |  | $ | 1,021,200 |
Production costs applicable to sales | (186,201 | ) |  | (79,679 | ) |  | (101,672 | ) |  | (27,848 | ) |  | (15,513 | ) |  | (8,634 | ) |  | — |  |  | (419,547 | )
Amortization | (159,264 | ) |  | (22,410 | ) |  | (35,839 | ) |  | (2,824 | ) |  | (556 | ) |  | (3,155 | ) |  | (452 | ) |  | (224,500 | )
Gross profit (loss) | 167,632 |  |  | 165,413 |  |  | 13,675 |  |  | 26,659 |  |  | (2,722 | ) |  | 6,948 |  |  | (452 | ) |  | 377,153 |
Exploration expense | 6,863 |  |  | 248 |  |  | 1,102 |  |  | 1,989 |  |  | 6,367 |  |  | 662 |  |  | 1,897 |  |  | 19,128 |
Other operating expenses | 949 |  |  | 342 |  |  | 317 |  |  | 19,931 |  |  | 156 |  |  | (1 | ) |  | 29,126 |  |  | 50,820 |
OPERATING INCOME (LOSS) | 159,820 |  |  | 164,823 |  |  | 12,256 |  |  | 4,739 |  |  | (9,245 | ) |  | 6,287 |  |  | (31,475 | ) |  | 307,205 |
Interest and other income, net | (9,099 | ) |  | 156 |  |  | 4 |  |  | 57 |  |  | (544 | ) |  | 1,108 |  |  | 1,708 |  |  | (6,610 | )
Interest expense, net | (23,453 | ) |  | (45 | ) |  | (4,889 | ) |  | (21 | ) |  | (458 | ) |  | — |  |  | (5,908 | ) |  | (34,774 | )
Loss on debt extinguishment | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (5,526 | ) |  | (5,526 | )
Fair value adjustments, net | (40,046 | ) |  | — |  |  | (8,438 | ) |  | — |  |  | — |  |  | — |  |  | (3,566 | ) |  | (52,050 | )
Income tax (provision) benefit | (28,023 | ) |  | (59,867 | ) |  | (31 | ) |  | (409 | ) |  | (1,219 | ) |  | — |  |  | (25,197 | ) |  | (114,746 | )
Net income (loss) | $ | 59,199 |  |  | $ | 105,067 |  |  | $ | (1,098 | ) |  | $ | 4,366 |  |  | $ | (11,466 | ) |  | $ | 7,395 |  |  | $ | (69,964 | ) |  | $ | 93,499 |
Segment assets(1) | $ | 2,029,769 |  |  | $ | 276,423 |  |  | $ | 507,891 |  |  | $ | 76,852 |  |  | $ | 19,717 |  |  | $ | 36,349 |  |  | $ | 16,129 |  |  | $ | 2,963,130 |
Capital expenditures | $ | 36,976 |  |  | $ | 17,731 |  |  | $ | 34,013 |  |  | $ | 27,217 |  |  | $ | 3,426 |  |  | $ | 59 |  |  | $ | 566 |  |  | $ | 119,988 |
(1) Segment assets consist of receivables, prepaids, inventories, property, plant and equipment, and mining properties
| As of December 31,
(in thousands) | 2013 |  | 2012 |  | 2011
Assets |  |  |  |  |
Total assets for reportable segments | $ | 2,558,819 |  |  | $ | 2,974,056 |  |  | $ | 2,963,130 |
Cash and cash equivalents | 206,690 |  |  | 125,440 |  |  | 175,012 |
Short term investments | — |  |  | 999 |  |  | 20,254 |
Other assets | 120,469 |  |  | 120,906 |  |  | 106,045 |
Total consolidated assets | $ | 2,885,978 |  |  | $ | 3,221,401 |  |  | $ | 3,264,441 |
Consolidated Assets |
| As of December 31,
(in thousands) | 2013 |  | 2012 |  | 2011
Assets |  |  |  |  |
Total assets for reportable segments | $ | 2,558,819 |  |  | $ | 2,974,056 |  |  | $ | 2,963,130 |
Cash and cash equivalents | 206,690 |  |  | 125,440 |  |  | 175,012 |
Short term investments | — |  |  | 999 |  |  | 20,254 |
Other assets | 120,469 |  |  | 120,906 |  |  | 106,045 |
Total consolidated assets | $ | 2,885,978 |  |  | $ | 3,221,401 |  |  | $ | 3,264,441 |
Long Lived Assets by Country | Geographic Information
| As of December 31,
(in thousands) | 2013 |  | 2012 |  | 2011
Long Lived Assets |  |  |  |  |
United States | $ | 384,626 |  |  | $ | 608,051 |  |  | $ | 515,096 |
Australia | 25,668 |  |  | 29,408 |  |  | 33,999 |
Argentina | 94,705 |  |  | 1,705 |  |  | 5,213 |
Bolivia | 235,085 |  |  | 240,905 |  |  | 230,956 |
Mexico | 1,487,228 |  |  | 1,795,677 |  |  | 1,903,374 |
Other Foreign Countries | 10,462 |  |  | 65 |  |  | 65 |
Total | $ | 2,237,774 |  |  | $ | 2,675,811 |  |  | $ | 2,688,703 |
Revenue by Country |
| Twelve months ended December 31,
(in thousands) | 2013 |  | 2012 |  | 2011
Revenues |  |  |  |  |
United States | $ | 268,023 |  |  | $ | 243,379 |  |  | $ | 208,517 |
Mexico | 324,040 |  |  | 442,098 |  |  | 513,097 |
Bolivia | 141,721 |  |  | 178,005 |  |  | 267,502 |
Australia | 12,871 |  |  | 18,848 |  |  | 18,737 |
Argentina | (661 | ) |  | 13,162 |  |  | 13,347 |
Total | $ | 745,994 |  |  | $ | 895,492 |  |  | $ | 1,021,200 |
The Company markets its doré to bullion trading houses, market makers and members of the London Bullion Market Association, industrial companies and other financial institutions. The Company has eight trading counterparties and the sales of metals to these companies amounted to approximately 72%, 91%, and 82% of total metal sales for the years ended December 31, 2013, 2012, and 2011, respectively. Generally, the loss of a single bullion trading counterparty would not adversely affect the Company due to the liquidity of the markets and the availability of alternative trading counterparties. The Company currently has five trading counterparties for its silver and gold concentrates and the sales to these companies amounted to approximately 28%, 9%, and 18% of total metal sales for the years ended December 31, 2013, 2012, and 2011, respectively. The loss of any one smelting and refining client may have a material adverse effect if alternate smelters and refiners are not available. The Company believes there is sufficient global capacity available to address the loss of any one smelter. The following table indicates customers that represent 10% or more of total sales of metal for at least one of the years December 31, 2013, 2012, and 2011 (in millions):
|  | Year Ended December 31, |  |
Customer |  | 2013 |  | 2012 |  | 2011 |  | Segments reporting revenue
Auramet |  | $ | 111.7 |  |  | $ | 94.6 |  |  | $ | 50.8 |  |  | Palmarejo, San Bartolomé, Kensington, Rochester
Toronto-Dominion Bank |  | 106.7 |  |  | 65.8 |  |  | — |  |  | Palmarejo, Rochester
INTL Commodities |  | 84.6 |  |  | 58.0 |  |  | 112.6 |  |  | Palmarejo, San Bartolomé, Rochester
China Gold |  | 81.5 |  |  | 43.8 |  |  | 108.9 |  |  | Kensington
Valcambi |  | 77.2 |  |  | 414.4 |  |  | 385.5 |  |  | Palmarejo, San Bartolomé
Mitsui |  | 70.3 |  |  | 65.6 |  |  | 105.1 |  |  | Palmarejo, Rochester

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