XML 30 R16.htm IDEA: XBRL DOCUMENT
v3.19.2

Income and Mining Taxes | 6 Months Ended
--- | ---
Jun. 30, 2019
Income Tax Disclosure [Abstract] |
INCOME AND MINING TAXES | INCOME AND MINING TAXES The following table summarizes the components of Income and mining tax (expense) benefit for the three and six months ended June 30, 2019 and 2018 by significant jurisdiction:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2019 |  | 2018 |  | 2019 |  | 2018
In thousands | Income (loss) before tax | Tax (expense) benefit |  | Income (loss) before tax | Tax (expense) benefit |  | Income (loss) before tax | Tax (expense) benefit |  | Income (loss) before tax | Tax (expense) benefit
United States | $ | (16,835 | ) | $ | (1,399 | ) |  | $ | (11,334 | ) | $ | (2,309 | ) |  | $ | (22,882 | ) | $ | (3,561 | ) |  | $ | (10,147 | ) | $ | (1,792 | )
Canada | (27,568 | ) | 7,547 |  |  | (2,155 | ) | 1,199 |  |  | (54,093 | ) | 17,339 |  |  | (3,909 | ) | 2,044 |
Mexico | 2,292 |  | (600 | ) |  | 20,542 |  | (2,499 | ) |  | 1,521 |  | 424 |  |  | 33,669 |  | (15,821 | )
Other jurisdictions | (199 | ) | (2 | ) |  | (406 | ) | (108 | ) |  | (408 | ) | 2 |  |  | (326 | ) | (97 | )
| $ | (42,310 | ) | $ | 5,546 |  |  | $ | 6,647 |  | $ | (3,717 | ) |  | $ | (75,862 | ) | $ | 14,204 |  |  | $ | 19,287 |  | $ | (15,666 | )
During the second quarter of 2019, the Company reported estimated income and mining tax benefit of approximately $5.6 million, resulting in an effective tax rate of 13.1%. This compares to income tax expense of $3.7 million for an effective tax rate of 55.9% during the second quarter of 2018. The comparability of the Company’s income and mining tax (expense) benefit and effective tax rate for the reported periods was impacted by multiple factors, primarily: (i) variations in our income before income taxes; (ii) geographic distribution of that income; (iii) foreign exchange rates; (iv) mining taxes and (v) the non-recognition of tax assets. Therefore, the effective tax rate will fluctuate, sometimes significantly, period to period. A valuation allowance is provided for deferred tax assets for which it is more likely than not that the related tax benefits will not be realized. The Company analyzes its deferred tax assets and, if it is determined that the Company will not realize all or a portion of its deferred tax assets, it will record or increase a valuation allowance. Conversely, if it is determined that the Company ultimately will be more likely than not able to realize all or a portion of the related benefits for which a valuation allowance has been provided, all or a portion of the related valuation allowance will be reduced. There are a number of factors that impact the Company’s ability to realize its deferred tax assets. For additional information, please see the section titled “Risk Factors” in the 2018 10-K. The Company or one of its subsidiaries files income tax returns in the U.S. federal jurisdiction, and various state and foreign jurisdictions. The statute of limitations remains open from 2015 forward for the U.S. federal jurisdiction and from 2011 forward for certain other foreign jurisdictions. As a result of statutes of limitation that will begin to expire within the next twelve months in various jurisdictions and possible settlements of audit-related issues with taxing authorities in various jurisdictions with respect to which none of the issues are individually significant, the Company believes that it is reasonably possible that the total amount of its net unrecognized income tax benefits will decrease between $2.5 million and $3.5 million in the next twelve months. At June 30, 2019 and December 31, 2018, the Company had $2.7 million and $3.8 million of total gross unrecognized tax benefits from continuing operations, respectively, that, if recognized, would positively impact the Company’s effective income tax rate. The Company’s continuing practice is to recognize potential interest and/or penalties related to unrecognized tax benefits as part of its income tax expense. At June 30, 2019 and December 31, 2018, the amount of accrued income-tax-related interest and penalties was $2.2 million and $3.7 million, respectively.

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -URI http://asc.fasb.org/topic&trid=2144680 + Details
Name: | us-gaap_IncomeTaxDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration