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Segment Reporting | 12 Months Ended
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Dec. 31, 2014
Segment Reporting [Abstract] |
SEGMENT REPORTING | SEGMENT REPORTING The Company’s operating segments include the Palmarejo, San Bartolomé, Rochester, and Kensington mines, La Preciosa, and Coeur Capital. All operating segments are engaged in the discovery and mining of gold and silver and generate the majority of their revenues from the sale of these precious metals with the exception of Coeur Capital, which holds the Endeavor silver stream and other precious metals royalties. Other includes the Joaquin project, Martha mine, corporate headquarters, elimination of intersegment transactions, and other items necessary to reconcile to consolidated amounts. Revenues from silver sales were $328.5 million, $394.5 million and $549.7 million in 2014, 2013, and 2012, respectively. Revenues from gold sales were $304.0 million, $351.5 million and $345.8 million in 2014, 2013, and 2012, respectively. Financial information relating to the Company’s segments is as follows (in thousands):
Year ended December 31, 2014 | Palmarejo Mine |  | San Bartolomé Mine |  | Kensington Mine |  | Rochester Mine |  | La Preciosa |  | Coeur Capital |  | Other |  | Total
Revenue |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Metal sales | $ | 244,003 |  |  | $ | 117,749 |  |  | $ | 136,960 |  |  | $ | 123,768 |  |  | $ | — |  |  | $ | 10,046 |  |  | $ | — |  |  | $ | 632,526 |
Royalties | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 3,216 |  |  | — |  |  | 3,216 |
| 244,003 |  |  | 117,749 |  |  | 136,960 |  |  | 123,768 |  |  | — |  |  | 13,262 |  |  | — |  |  | 635,742 |
Costs and Expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Costs applicable to sales(1) | 187,276 |  |  | 89,659 |  |  | 105,342 |  |  | 91,462 |  |  | — |  |  | 4,206 |  |  | — |  |  | 477,945 |
Amortization | 69,431 |  |  | 19,423 |  |  | 43,619 |  |  | 20,790 |  |  | 84 |  |  | 7,015 |  |  | 2,074 |  |  | 162,436 |
Exploration | 6,671 |  |  | 120 |  |  | 8,005 |  |  | 2,636 |  |  | 236 |  |  | 515 |  |  | 3,557 |  |  | 21,740 |
Write-downs | 784,038 |  |  | 118,754 |  |  | 107,832 |  |  | — |  |  | 372,466 |  |  | 6,202 |  |  | 83,429 |  |  | 1,472,721 |
Other operating expense (income) | 620 |  |  | (251 | ) |  | 796 |  |  | 2,813 |  |  | 13,961 |  |  | 938 |  |  | 48,005 |  |  | 66,882 |
Other income (expense) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income and other, net | 131 |  |  | 2,461 |  |  | (22 | ) |  | 105 |  |  | (523 | ) |  | (7,141 | ) |  | (229 | ) |  | (5,218 | )
Interest expense, net | (9,320 | ) |  | (52 | ) |  | (214 | ) |  | (679 | ) |  | — |  |  | (1 | ) |  | (37,280 | ) |  | (47,546 | )
Fair value adjustments, net | (1,847 | ) |  | — |  |  | — |  |  | 3,653 |  |  | — |  |  | — |  |  | 1,812 |  |  | 3,618 |
Income and mining tax (expense) benefit | 283,685 |  |  | 18,114 |  |  | — |  |  | (2,224 | ) |  | 132,151 |  |  | 1,212 |  |  | 26,306 |  |  | 459,244 |
Net income (loss) | $ | (531,384 | ) |  | $ | (89,433 | ) |  | $ | (128,870 | ) |  | $ | 6,922 |  |  | $ | (255,119 | ) |  | $ | (11,544 | ) |  | $ | (146,456 | ) |  | $ | (1,155,884 | )
Segment assets(2) | $ | 341,367 |  |  | $ | 188,616 |  |  | $ | 215,973 |  |  | $ | 196,765 |  |  | $ | 39,701 |  |  | $ | 59,848 |  |  | $ | 41,987 |  |  | $ | 1,084,257 |
Capital expenditures | $ | 26,084 |  |  | $ | 7,937 |  |  | $ | 16,220 |  |  | $ | 11,898 |  |  | $ | 255 |  |  | $ | — |  |  | $ | 1,850 |  |  | $ | 64,244 |
(1) Excludes amortization (2) Segment assets include receivables, prepaids, inventories, property, plant, and equipment, and mineral interests
Year ended December 31, 2013 | Palmarejo Mine |  | San Bartolomé Mine |  | Kensington Mine |  | Rochester Mine |  | La Preciosa |  | Coeur Capital |  | Other |  | Total
Revenue |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Metal sales | $ | 324,040 |  |  | $ | 141,721 |  |  | $ | 148,769 |  |  | $ | 119,254 |  |  | $ | — |  |  | $ | 12,871 |  |  | $ | (661 | ) |  | $ | 745,994 |
Royalties | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
| 324,040 |  |  | 141,721 |  |  | 148,769 |  |  | 119,254 |  |  | — |  |  | 12,871 |  |  | (661 | ) |  | 745,994 |
Costs and Expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Costs applicable to sales(1) | 188,572 |  |  | 86,827 |  |  | 104,575 |  |  | 77,869 |  |  | — |  |  | 5,820 |  |  | — |  |  | 463,663 |
Amortization | 133,535 |  |  | 19,103 |  |  | 62,750 |  |  | 8,890 |  |  | 24 |  |  | 3,755 |  |  | 1,507 |  |  | 229,564 |
Exploration | 7,161 |  |  | 111 |  |  | 4,199 |  |  | 2,653 |  |  | 80 |  |  | 2,069 |  |  | 6,087 |  |  | 22,360 |
Write-downs | 642,094 |  |  | — |  |  | 130,694 |  |  | — |  |  | — |  |  | — |  |  | 205 |  |  | 772,993 |
Other operating expense (income) | 705 |  |  | 6,205 |  |  | 735 |  |  | 36,265 |  |  | 3,237 |  |  | 1,397 |  |  | 54,029 |  |  | 102,573 |
Other income (expense) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income and other, net | 906 |  |  | 2,582 |  |  | (187 | ) |  | (318 | ) |  | 15 |  |  | (19,474 | ) |  | 11,491 |  |  | (4,985 | )
Interest expense, net | (15,123 | ) |  | (74 | ) |  | (424 | ) |  | (20 | ) |  | — |  |  | — |  |  | (25,662 | ) |  | (41,303 | )
Fair value adjustments, net | 76,218 |  |  | — |  |  | 7,480 |  |  | 416 |  |  | — |  |  | — |  |  | (1,346 | ) |  | 82,768 |
Income and mining tax (expense) benefit | 107,748 |  |  | (10,938 | ) |  | (1 | ) |  | (2,332 | ) |  | (20,856 | ) |  | 2,179 |  |  | 82,316 |  |  | 158,116 |
Net income (loss) | $ | (478,278 | ) |  | $ | 21,045 |  |  | $ | (147,316 | ) |  | $ | (8,677 | ) |  | $ | (24,182 | ) |  | $ | (17,465 | ) |  | $ | 4,310 |  |  | $ | (650,563 | )
Segment assets(2) | $ | 1,164,852 |  |  | $ | 289,272 |  |  | $ | 343,144 |  |  | $ | 176,789 |  |  | $ | 410,335 |  |  | $ | 62,678 |  |  | $ | 111,749 |  |  | $ | 2,558,819 |
Capital expenditures | $ | 33,730 |  |  | $ | 11,568 |  |  | $ | 21,404 |  |  | $ | 29,406 |  |  | $ | 1,122 |  |  | $ | — |  |  | $ | 3,583 |  |  | $ | 100,813 |
(1) Excludes amortization (2) Segment assets include receivables, prepaids, inventories, property, plant, and equipment, and mineral interests
Year ended December 31, 2012 | Palmarejo Mine |  | San Bartolomé Mine |  | Kensington Mine |  | Rochester Mine |  | Coeur Capital |  | Other |  | Total
Revenue |  |  |  |  |  |  |  |  |  |  |  |  |
Metal sales | $ | 442,098 |  |  | $ | 178,005 |  |  | $ | 110,987 |  |  | $ | 132,392 |  |  | $ | 18,848 |  |  | $ | 13,162 |  |  | $ | 895,492 |
Royalties | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
| 442,098 |  |  | 178,005 |  |  | 110,987 |  |  | 132,392 |  |  | 18,848 |  |  | 13,162 |  |  | 895,492 |
Costs and Expenses |  |  |  |  |  |  |  |  |  |  |  |  |
Costs applicable to sales(1) | 197,478 |  |  | 71,428 |  |  | 87,089 |  |  | 72,061 |  |  | 8,824 |  |  | 17,682 |  |  | 454,562 |
Amortization | 145,945 |  |  | 16,624 |  |  | 41,241 |  |  | 6,784 |  |  | 4,632 |  |  | 806 |  |  | 216,032 |
Exploration | 7,575 |  |  | 159 |  |  | 3,283 |  |  | 3,591 |  |  | 1,056 |  |  | 10,606 |  |  | 26,270 |
Write-downs | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 5,825 |  |  | 5,825 |
Other operating expense (income) | 661 |  |  | 165 |  |  | 478 |  |  | 2,682 |  |  | (736 | ) |  | 33,813 |  |  | 37,063 |
Other income (expense) |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income and other, net | 4,017 |  |  | 9,719 |  |  | (77 | ) |  | 358 |  |  | (77 | ) |  | 496 |  |  | 14,436 |
Interest expense, net | (18,938 | ) |  | (72 | ) |  | (2,972 | ) |  | (26 | ) |  | — |  |  | (4,161 | ) |  | (26,169 | )
Loss on debt extinguishment | — |  |  | — |  |  | (1,036 | ) |  | — |  |  | — |  |  | — |  |  | (1,036 | )
Fair value adjustments, net | (31,054 | ) |  | — |  |  | 4,089 |  |  | — |  |  | — |  |  | 3,478 |  |  | (23,487 | )
Income and mining tax (expense) benefit | (18,066 | ) |  | (44,632 | ) |  | — |  |  | (2,195 | ) |  | (327 | ) |  | (5,587 | ) |  | (70,807 | )
Net income (loss) | $ | 26,398 |  |  | $ | 54,644 |  |  | $ | (21,100 | ) |  | $ | 45,411 |  |  | $ | 4,668 |  |  | $ | (61,344 | ) |  | $ | 48,677 |
Segment assets(2) | $ | 1,905,269 |  |  | $ | 302,922 |  |  | $ | 508,658 |  |  | $ | 104,373 |  |  | $ | 32,656 |  |  | $ | 120,178 |  |  | $ | 2,974,056 |
Capital expenditures | $ | 38,456 |  |  | $ | 25,672 |  |  | $ | 36,994 |  |  | $ | 11,794 |  |  | $ | — |  |  | $ | 2,725 |  |  | $ | 115,641 |
(1) Excludes amortization (2) Segment assets include receivables, prepaids, inventories, property, plant, and equipment, and mineral interests
In thousands | December 31, 2014 |  | December 31, 2013
Assets |  |  |
Total assets for reportable segments | $ | 1,084,257 |  |  | $ | 2,558,819 |
Cash and cash equivalents | 270,861 |  |  | 206,690 |
Other assets | 100,300 |  |  | 120,469 |
Total consolidated assets | $ | 1,455,418 |  |  | $ | 2,885,978 |
Geographic Information
In thousands | December 31, 2014 |  | December 31, 2013
Long Lived Assets |  |  |
Mexico | $ | 298,101 |  |  | $ | 1,487,228 |
United States | 275,594 |  |  | 384,626 |
Bolivia | 107,960 |  |  | 235,085 |
Australia | 21,362 |  |  | 25,668 |
Argentina | 10,970 |  |  | 94,705 |
Other | 15,116 |  |  | 10,462 |
Total | $ | 729,103 |  |  | $ | 2,237,774 |
| Year ended December 31,
In thousands | 2014 |  | 2013 |  | 2012
Revenue |  |  |  |  |
United States | $ | 260,728 |  |  | $ | 268,023 |  |  | $ | 243,379 |
Mexico | 245,493 |  |  | 324,040 |  |  | 442,098 |
Bolivia | 117,749 |  |  | 141,721 |  |  | 178,005 |
Australia | 10,046 |  |  | 12,871 |  |  | 18,848 |
Other | $ | 1,726 |  |  | $ | (661 | ) |  | $ | 13,162 |
Total | $ | 635,742 |  |  | $ | 745,994 |  |  | $ | 895,492 |
The Company's doré is refined into gold and silver bullion according to benchmark standards set by the London Bullion Market Association, which regulates the acceptable requirements for bullion traded in the London precious metals markets. The Company then sells its silver and gold bullion to multi-national banks, bullion trading houses, and refiners across the globe. The Company has seven bullion trading counterparties and the sales of metals to these companies amounted to approximately 63%, 72%, and 91% of total metal sales for the years ended December 31, 2014, 2013, and 2012, respectively. Generally, the loss of a single bullion trading counterparty would not adversely affect the Company due to sufficient liquidity of the markets and ample alternative trading counterparties. The Company's concentrates are sold to smelters under purchase and sale agreements, and the smelters pay the Company for the gold or silver recovered from the concentrates. The Company currently has seven smelting and refining customers for its concentrates, and the sales to these companies amounted to approximately 37%, 28%, and 9% of total metal sales for the years ended December 31, 2014, 2013, and 2012, respectively. The loss of any one smelting and refining client may have a material adverse effect on sales if alternate smelters and refiners are not available. The Company believes sufficient global capacity exists in case of 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, 2014, 2013, and 2012 (in millions):
|  | Years Ended December 31, |  |
Customer |  | 2014 |  | 2013 |  | 2012 |  | Segments reporting revenue
Mitsui & Co. |  | $ | 133.8 |  |  | $ | 70.3 |  |  | $ | 65.6 |  |  | Palmarejo, Rochester
TD Securities |  | 106.7 |  |  | 106.7 |  |  | 65.8 |  |  | Palmarejo, Rochester
Standard Bank |  | 87.5 |  |  | 69.0 |  |  | 72.3 |  |  | Palmarejo, Rochester
China National Gold |  | 86.8 |  |  | 81.5 |  |  | 43.8 |  |  | Kensington
Johnson Matthey |  | 71.8 |  |  | 66.4 |  |  | 1.7 |  |  | San Bartolomé
Valcambi |  | 33.9 |  |  | 77.2 |  |  | 414.4 |  |  | Palmarejo, San Bartolomé
INTL Commodities |  | 22.4 |  |  | 84.6 |  |  | 58.0 |  |  | Palmarejo, San Bartolomé, Rochester
Auramet |  | 10.8 |  |  | 111.7 |  |  | 94.6 |  |  | Palmarejo, San Bartolomé, Kensington, Rochester

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 + Details
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