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Derivative Financial Instruments (Tables) | 3 Months Ended
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Mar. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Derivative instruments, future settlement | At March 31, 2016, the Company had the following derivative instruments that settle as follows:
In thousands except average prices and notional ounces | 2016 |  | Thereafter
Palmarejo gold production royalty | $ | 17,240 |  |  | $ | — |
Average gold price in excess of minimum contractual deduction | $ | 821 |  |  | $ | — |
Notional ounces | 20,994 |  |  | — |
Provisional silver sales | $ | 6,736 |  |  | $ | — |
Average silver price | $ | 15.36 |  |  | $ | — |
Notional ounces | 438,573 |  |  | — |
Provisional gold sales | $ | 45,868 |  |  | $ | — |
Average gold price | $ | 1,183 |  |  | $ | — |
Notional ounces | 38,773 |  |  | — |
Silver put options purchased | $ | 4,500 |  |  | $ | — |
Average silver strike price | $ | 15.00 |  |  | $ | — |
Notional ounces | 300,000 |  |  | — |
Silver put options sold | $ | (4,200 | ) |  | $ | — |
Average silver strike price | $ | 14.00 |  |  | $ | — |
Notional ounces | 300,000 |  |  | — |
Fair value of the derivative instruments | The following summarizes the classification of the fair value of the derivative instruments:
| March 31, 2016
In thousands | Prepaid expenses and other |  | Accrued liabilities and other |  | Current portion of royalty obligation |  | Non-current portion of royalty obligation
Palmarejo gold production royalty | — |  |  | — |  |  | 6,827 |  |  | — |
Silver and gold options | 131 |  |  | 36 |  |  | — |  |  | — |
Concentrate sales contracts | 85 |  |  | 28 |  |  | — |  |  | — |
| $ | 216 |  |  | $ | 64 |  |  | $ | 6,827 |  |  | $ | — |
| December 31, 2015
In thousands | Prepaid expenses and other |  | Accrued liabilities and other |  | Current portion of royalty obligation |  | Non-current portion of royalty obligation
Palmarejo gold production royalty | — |  |  | — |  |  | 4,957 |  |  | — |
Concentrate sales contracts | 28 |  |  | 536 |  |  | — |  |  | — |
| $ | 28 |  |  | $ | 536 |  |  | $ | 4,957 |  |  | $ | — |
Gain losses on derivative instruments | The following represent mark-to-market gains (losses) on derivative instruments for the three months ended March 31, 2016 and 2015 (in thousands):
|  |  | Three months ended March 31,
Financial statement line | Derivative |  | 2016 |  | 2015
Revenue | Concentrate sales contracts |  | $ | 566 |  |  | $ | 914 |
Fair value adjustments, net | Palmarejo gold royalty |  | (4,878 | ) |  | (1,545 | )
Fair value adjustments, net | Silver and gold options |  | (1,568 | ) |  | (1,046 | )
|  |  | $ | (5,880 | ) |  | $ | (1,677 | )

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- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5624163-113959 + Details
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- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=56946850&loc=d3e41641-113959 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5624163-113959 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=56946850&loc=d3e41678-113959 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=56946850&loc=d3e41638-113959 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5580258-113959 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5579245-113959 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5624171-113959 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 25 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6886632&loc=d3e76258-113986 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5579240-113959 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=56946850&loc=d3e41620-113959 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(n)(2)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 + Details
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