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Segment Reporting (Tables) | 12 Months Ended
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Dec. 31, 2017
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, 2017 | Palmarejo |  | Rochester |  | Silvertip |  | Kensington |  | Wharf |  | Other |  | Total
Revenue |  |  |  |  |  |  |  |  |  |  |  |  |
Metal sales | $ | 274,809 |  |  | $ | 152,680 |  |  | $ | — |  |  | $ | 154,469 |  |  | $ | 125,901 |  |  | $ | 1,739 |  |  | $ | 709,598 |
Costs and Expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |
Costs applicable to sales(1) | 146,176 |  |  | 107,921 |  |  | — |  |  | 116,096 |  |  | 69,322 |  |  | 745 |  |  | 440,260 |
Amortization | 73,744 |  |  | 22,306 |  |  | — |  |  | 36,022 |  |  | 13,012 |  |  | 1,465 |  |  | 146,549 |
Exploration | 11,924 |  |  | 1,352 |  |  | — |  |  | 8,604 |  |  | 320 |  |  | 8,111 |  |  | 30,311 |
Other operating expenses | 1,263 |  |  | 3,394 |  |  | 153 |  |  | 1,412 |  |  | 2,468 |  |  | 43,862 |  |  | 52,552 |
Other income (expense) |  |  |  |  |  |  |  |  |  |  |  |  |
Loss on debt extinguishment | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (9,342 | ) |  | (9,342 | )
Fair value adjustments, net | — |  |  | (864 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (864 | )
Interest expense, net | (487 | ) |  | (496 | ) |  | (2,212 | ) |  | (413 | ) |  | (66 | ) |  | (12,766 | ) |  | (16,440 | )
Other, net | (851 | ) |  | 2,193 |  |  | 1,142 |  |  | (922 | ) |  | 172 |  |  | 24,909 |  |  | 26,643 |
Income and mining tax (expense) benefit | (24,330 | ) |  | (1,028 | ) |  | (932 | ) |  | — |  |  | (3,936 | ) |  | 1,228 |  |  | (28,998 | )
Income (loss) from continuing operations | $ | 16,034 |  |  | $ | 17,512 |  |  | $ | (2,155 | ) |  | $ | (9,000 | ) |  | $ | 36,949 |  |  | $ | (48,415 | ) |  | $ | 10,925 |
Income (loss) from discontinued operations | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (12,244 | ) |  | $ | (12,244 | )
Segment assets(2) | $ | 377,621 |  |  | $ | 239,223 |  |  | $ | 339,369 |  |  | $ | 212,588 |  |  | $ | 104,010 |  |  | $ | 71,742 |  |  | $ | 1,344,553 |
Capital expenditures | $ | 29,902 |  |  | $ | 40,874 |  |  | $ | 17,684 |  |  | $ | 36,248 |  |  | $ | 8,844 |  |  | $ | 3,182 |  |  | $ | 136,734 |
(1) Excludes amortization (2) Segment assets include receivables, prepaids, inventories, property, plant and equipment, and mineral interests
Year ended December 31, 2016 | Palmarejo |  | Rochester |  | Kensington |  | Wharf |  | Other |  | Total
Revenue |  |  |  |  |  |  |  |  |  |  |
Metal sales | $ | 141,273 |  |  | $ | 139,945 |  |  | $ | 146,593 |  |  | $ | 136,678 |  |  | $ | 4,128 |  |  | $ | 568,617 |
Royalties | — |  |  | — |  |  | — |  |  | — |  |  | 3,280 |  |  | 3,280 |
| 141,273 |  |  | 139,945 |  |  | 146,593 |  |  | 136,678 |  |  | 7,408 |  |  | 571,897 |
Costs and Expenses |  |  |  |  |  |  |  |  |  |  |
Costs applicable to sales(1) | 80,820 |  |  | 89,726 |  |  | 96,731 |  |  | 66,379 |  |  | 1,719 |  |  | 335,375 |
Amortization | 36,599 |  |  | 21,838 |  |  | 34,787 |  |  | 20,621 |  |  | 2,683 |  |  | 116,528 |
Exploration | 5,063 |  |  | 841 |  |  | 3,487 |  |  | 2 |  |  | 3,537 |  |  | 12,930 |
Write-downs | — |  |  | — |  |  | — |  |  | — |  |  | 4,446 |  |  | 4,446 |
Other operating expenses | 1,213 |  |  | 2,801 |  |  | 1,038 |  |  | 2,238 |  |  | 36,396 |  |  | 43,686 |
Other income (expense) |  |  |  |  |  |  |  |  |  |  |  |
Loss on debt extinguishment | — |  |  | — |  |  | — |  |  | — |  |  | (21,365 | ) |  | (21,365 | )
Fair value adjustments, net | (5,814 | ) |  | (4,133 | ) |  | — |  |  | — |  |  | (1,634 | ) |  | (11,581 | )
Interest expense, net | (1,187 | ) |  | (664 | ) |  | (128 | ) |  | (69 | ) |  | (34,848 | ) |  | (36,896 | )
Other, net | (12,125 | ) |  | (3,859 | ) |  | (25 | ) |  | 17 |  |  | 16,090 |  |  | 98 |
Income and mining tax (expense) benefit | 45,085 |  |  | (2,785 | ) |  | — |  |  | (4,293 | ) |  | (4,760 | ) |  | 33,247 |
Income (loss) from continuing operations | $ | 43,537 |  |  | $ | 13,298 |  |  | $ | 10,397 |  |  | $ | 43,093 |  |  | $ | (87,890 | ) |  | $ | 22,435 |
Income (loss) from discontinued operations | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 32,917 |  |  | $ | 32,917 |
Segment assets(2) | $ | 436,642 |  |  | $ | 219,009 |  |  | $ | 199,232 |  |  | $ | 105,901 |  |  | $ | 84,938 |  |  | $ | 1,045,722 |
Capital expenditures | $ | 35,810 |  |  | $ | 16,446 |  |  | $ | 36,826 |  |  | $ | 4,812 |  |  | $ | 488 |  |  | $ | 94,382 |
(1) Excludes amortization (2) Segment assets include receivables, prepaids, inventories, property, plant and equipment, and mineral interests
Year ended December 31, 2015 | Palmarejo |  | Rochester |  | Kensington |  | Wharf |  | Other |  | Total
Revenue |  |  |  |  |  |  |  |  |  |  |
Metal sales | 169,133 |  |  | 143,930 |  |  | 148,710 |  |  | 84,052 |  |  | 8,732 |  |  | $ | 554,557 |
Royalties | — |  |  | — |  |  | — |  |  | — |  |  | 6,850 |  |  | 6,850 |
| 169,133 |  |  | 143,930 |  |  | 148,710 |  |  | 84,052 |  |  | 15,582 |  |  | 561,407 |
Costs and Expenses |  |  |  |  |  |  |  |  |  |  |
Costs applicable to sales(1) | 138,476 |  |  | 103,994 |  |  | 105,640 |  |  | 52,197 |  |  | 3,520 |  |  | 403,827 |
Amortization | 32,423 |  |  | 23,906 |  |  | 42,240 |  |  | 16,378 |  |  | 11,006 |  |  | 125,953 |
Exploration | 4,533 |  |  | 1,324 |  |  | 2,596 |  |  | 134 |  |  | 2,934 |  |  | 11,521 |
Write-downs | 224,507 |  |  | — |  |  | — |  |  | — |  |  | 22,118 |  |  | 246,625 |
Other operating expenses | 1,293 |  |  | 2,948 |  |  | 1,301 |  |  | 1,717 |  |  | 41,581 |  |  | 48,840 |
Other income (expense) |  |  |  |  |  |  |  |  |  |  |
Loss on debt extinguishment | — |  |  | — |  |  | — |  |  | — |  |  | 15,916 |  |  | 15,916 |
Fair value adjustments, net | 3,160 |  |  | 818 |  |  | — |  |  | — |  |  | 1,224 |  |  | 5,202 |
Interest expense, net | (4,269 | ) |  | (748 | ) |  | (218 | ) |  | — |  |  | (39,743 | ) |  | (44,978 | )
Other, net | (10,968 | ) |  | (13 | ) |  | 7 |  |  | 143 |  |  | (6,836 | ) |  | (17,667 | )
Income and mining tax (expense) benefit | 37,597 |  |  | (1,497 | ) |  | — |  |  | (857 | ) |  | (6,168 | ) |  | 29,075 |
Income (loss) from continuing operations | (206,579 | ) |  | 10,318 |  |  | (3,278 | ) |  | 12,912 |  |  | (101,184 | ) |  | (287,811 | )
Income (loss) from discontinued operations | — |  |  | — |  |  | — |  |  | — |  |  | (79,372 | ) |  | (79,372 | )
Segment assets(2) | 406,648 |  |  | 190,714 |  |  | 197,873 |  |  | 113,305 |  |  | 103,629 |  |  | 1,012,169 |
Capital expenditures | 35,991 |  |  | 25,330 |  |  | 23,834 |  |  | 3,211 |  |  | 607 |  |  | 88,973 |
(1) Excludes amortization (2) Segment assets include receivables, prepaids, inventories, property, plant and equipment, and mineral interests
Assets | December 31, 2017 |  | December 31, 2016
Total assets for reportable segments | $ | 1,344,553 |  |  | $ | 1,045,722 |
Cash and cash equivalents | 192,032 |  |  | 118,312 |
Other assets | 164,590 |  |  | 154,875 |
Total consolidated assets | $ | 1,701,175 |  |  | $ | 1,318,909 |
Consolidated Assets |
Assets | December 31, 2017 |  | December 31, 2016
Total assets for reportable segments | $ | 1,344,553 |  |  | $ | 1,045,722 |
Cash and cash equivalents | 192,032 |  |  | 118,312 |
Other assets | 164,590 |  |  | 154,875 |
Total consolidated assets | $ | 1,701,175 |  |  | $ | 1,318,909 |
Long Lived Assets by Country | Geographic Information
Long-Lived Assets | December 31, 2017 |  | December 31, 2016
Mexico | $ | 370,188 |  |  | $ | 397,697 |
United States | 377,768 |  |  | 338,897 |
Canada | 331,440 |  |  | — |
Argentina | 229 |  |  | 10,228 |
Other | 4,681 |  |  | 8,547 |
Total | $ | 1,084,306 |  |  | $ | 755,369 |
Revenue by Country |
Revenue | Year ended December 31,
2017 |  | 2016 |  | 2015
United States | $ | 433,050 |  |  | $ | 423,216 |  |  | $ | 376,692 |
Mexico | 274,809 |  |  | 142,198 |  |  | 171,911 |
Australia | 1,739 |  |  | 4,128 |  |  | 8,732 |
Other | — |  |  | 2,355 |  |  | 4,072 |
Total | $ | 709,598 |  |  | $ | 571,897 |  |  | $ | 561,407 |
The Company's doré, as well as the concentrate product produced by the Wharf mine, is refined into gold and silver bullion according to benchmark standards set by the LBMA, 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 eight trading counterparties at December 31, 2017. The Company's sales of doré or concentrate product produced by the Palmarejo, Rochester, and Wharf mines amounted to approximately 78%, 74%, and 72% of total metal sales for the years ended December 31, 2017, 2016, and 2015, respectively. Generally, the loss of a single bullion trading counterparty would not adversely affect the Company due to the liquidity of the markets and availability of alternative trading counterparties. The Company's gold concentrate products from the Kensington mine are primarily sold to one smelter under a purchase and sale agreement, and the smelter pays the Company for the metals recovered from the concentrates. The Company’s sales of concentrate produced by the Kensington mine amounted to approximately 22%, 26%, and 27% of total metal sales for the years ended December 31, 2017, 2016, and 2015, respectively. While the loss of a smelter may have a material adverse effect if alternate smelters are not available or if the failure to engage a new smelter results in a delay in the sale or purchase of Kensington concentrate, the Company believes that there is sufficient global capacity available to address the loss of a 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, 2017, 2016, and 2015 (in millions):
|  | Year ended December 31, |  |
Customer |  | 2017 |  | 2016 |  | 2015 |  | Segments reporting revenue
China National Gold |  | $ | 137.5 |  |  | $ | 126.6 |  |  | $ | 126.2 |  |  | Kensington
Republic Metal Corporation |  | 132.4 |  |  | 47.3 |  |  | 0.6 |  |  | Palmarejo,Wharf
Asahi (formerly Johnson Matthey) |  | 124.1 |  |  | 62.6 |  |  | 84.2 |  |  | Palmarejo, Wharf, Rochester
Techemet Metal Trading |  | 104.8 |  |  | 40.7 |  |  | — |  |  | Rochester, Wharf
TD Securities |  | — |  |  | 15.5 |  |  | 81.3 |  |  | Palmarejo, Rochester
INTL Commodities |  | 9.6 |  |  | 76.6 |  |  | 33.1 |  |  | Palmarejo, Rochester, Wharf
Mitsui & Co. |  | — |  |  | — |  |  | 137.7 |  |  | Palmarejo, Rochester

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: 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=68060357&loc=d3e8906-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8813-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13816-109267 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8736-108599 + Details
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