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Segment Reporting | 3 Months Ended
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Mar. 31, 2020
Segment Reporting [Abstract] |
SEGMENT REPORTING | SEGMENT REPORTING The Company’s operating segments include the Palmarejo, Rochester, Kensington, Wharf and Silvertip mines. Except for the Silvertip mine, all operating segments are engaged in the discovery, mining, and production of gold and/or silver. The Silvertip mine, which temporarily suspended mining and processing activities in February 2020, is engaged in the discovery, mining, and production of silver, zinc and lead. Other includes the Sterling/Crown and La Preciosa projects, other mineral interests, strategic equity investments, corporate office, elimination of intersegment transactions, and other items necessary to reconcile to consolidated amounts. Financial information relating to the Company’s segments is as follows (in thousands):
Three months ended March 31, 2020 | Palmarejo |  | Rochester |  | Kensington |  | Wharf |  | Silvertip |  | Other |  | Total
Revenue |  |  |  |  |  |  |  |  |  |  |  |  |
Gold sales | $ | 41,647 |  |  | $ | 8,666 |  |  | $ | 51,666 |  |  | $ | 25,626 |  |  | $ | — |  |  | $ | — |  |  | $ | 127,605 |
Silver sales | 32,692 |  |  | 10,739 |  |  | — |  |  | 248 |  |  | 1,230 |  |  | — |  |  | 44,909 |
Zinc sales | — |  |  | — |  |  | — |  |  | — |  |  | (662 | ) |  | — |  |  | (662 | )
Lead sales | — |  |  | — |  |  | — |  |  | — |  |  | 1,315 |  |  | — |  |  | 1,315 |
Metal sales | 74,339 |  |  | 19,405 |  |  | 51,666 |  |  | 25,874 |  |  | 1,883 |  |  | — |  |  | 173,167 |
Costs and Expenses |  |  |  |  |  |  |  |  |  |  |  |  |
Costs applicable to sales(1) | 35,974 |  |  | 16,956 |  |  | 30,507 |  |  | 17,823 |  |  | 17,657 |  |  | — |  |  | 118,917 |
Amortization | 13,175 |  |  | 2,904 |  |  | 11,922 |  |  | 2,444 |  |  | 5,345 |  |  | 372 |  |  | 36,162 |
Exploration | 1,492 |  |  | 220 |  |  | 1,772 |  |  | 4 |  |  | 251 |  |  | 2,647 |  |  | 6,386 |
Other operating expenses | 722 |  |  | 1,246 |  |  | 331 |  |  | 442 |  |  | 2,374 |  |  | 10,360 |  |  | 15,475 |
Other income (expense) |  |  |  |  |  |  |  |  |  |  |  |  |
Fair value adjustments, net | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (8,819 | ) |  | (8,819 | )
Interest expense, net | (155 | ) |  | (268 | ) |  | (309 | ) |  | (51 | ) |  | (259 | ) |  | (4,086 | ) |  | (5,128 | )
Other, net | (47 | ) |  | (53 | ) |  | 71 |  |  | (13 | ) |  | 1,130 |  |  | 793 |  |  | 1,881 |
Income and mining tax (expense) benefit | 2,287 |  |  | (43 | ) |  | — |  |  | (475 | ) |  | — |  |  | 2,170 |  |  | 3,939 |
Income (loss) from continuing operations | $ | 25,061 |  |  | $ | (2,285 | ) |  | $ | 6,896 |  |  | $ | 4,622 |  |  | $ | (22,873 | ) |  | $ | (23,321 | ) |  | $ | (11,900 | )
Income (loss) from discontinued operations | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Segment assets(2) | $ | 307,662 |  |  | $ | 295,972 |  |  | $ | 188,470 |  |  | $ | 85,531 |  |  | $ | 161,214 |  |  | $ | 164,745 |  |  | $ | 1,203,594 |
Capital expenditures | $ | 7,080 |  |  | $ | 5,058 |  |  | $ | 4,808 |  |  | $ | 409 |  |  | $ | 4,616 |  |  | $ | 237 |  |  | $ | 22,208 |
(1) Excludes amortization (2) Segment assets include receivables, prepaids, inventories, property, plant and equipment, and mineral interests
Three months ended March 31, 2019 | Palmarejo |  | Rochester |  | Kensington |  | Wharf |  | Silvertip |  | Other |  | Total
Revenue |  |  |  |  |  |  |  |  |  |  |  |  |
Gold sales | $ | 31,600 |  |  | $ | 11,053 |  |  | $ | 40,286 |  |  | $ | 23,825 |  |  | — |  |  | $ | — |  |  | $ | 106,764 |
Silver sales | 21,625 |  |  | 15,317 |  |  | — |  |  | 217 |  |  | 2,955 |  |  | — |  |  | 40,114 |
Zinc sales | — |  |  | — |  |  | — |  |  | — |  |  | 5,634 |  |  | — |  |  | 5,634 |
Lead sales | — |  |  | — |  |  | — |  |  | — |  |  | 2,358 |  |  | — |  |  | 2,358 |
Metal sales | 53,225 |  |  | 26,370 |  |  | 40,286 |  |  | 24,042 |  |  | 10,947 |  |  | — |  |  | 154,870 |
Costs and Expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |
Costs applicable to sales(1) | 33,244 |  |  | 22,454 |  |  | 32,175 |  |  | 17,392 |  |  | 26,385 |  |  | — |  |  | 131,650 |
Amortization | 14,528 |  |  | 4,037 |  |  | 11,727 |  |  | 2,681 |  |  | 8,426 |  |  | 477 |  |  | 41,876 |
Exploration | 1,010 |  |  | 90 |  |  | 481 |  |  | — |  |  | 61 |  |  | 2,072 |  |  | 3,714 |
Other operating expenses | 702 |  |  | 962 |  |  | 271 |  |  | 664 |  |  | 241 |  |  | 11,068 |  |  | 13,908 |
Other income (expense) |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fair value adjustments, net | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 9,120 |  |  | 9,120 |
Interest expense, net | (136 | ) |  | (142 | ) |  | (229 | ) |  | (21 | ) |  | (197 | ) |  | (5,729 | ) |  | (6,454 | )
Other, net | (1,040 | ) |  | (27 | ) |  | 13 |  |  | 86 |  |  | (188 | ) |  | 1,216 |  |  | 60 |
Income and mining tax (expense) benefit | 1,291 |  |  | 144 |  |  | — |  |  | (173 | ) |  | 9,751 |  |  | (2,355 | ) |  | 8,658 |
Income (loss) from continuing operations | $ | 3,856 |  |  | $ | (1,198 | ) |  | $ | (4,584 | ) |  | $ | 3,197 |  |  | $ | (14,800 | ) |  | $ | (11,365 | ) |  | $ | (24,894 | )
Income (loss) from discontinued operations | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | — |  |  | $ | 5,693 |  |  | $ | 5,693 |
Segment assets(2) | $ | 360,734 |  |  | $ | 271,403 |  |  | $ | 221,164 |  |  | $ | 103,579 |  |  | 417,089 |  |  | $ | 174,430 |  |  | $ | 1,548,399 |
Capital expenditures | $ | 8,676 |  |  | $ | 4,645 |  |  | $ | 9,356 |  |  | $ | 431 |  |  | 4,077 |  |  | $ | 253 |  |  | $ | 27,438 |
(1) Excludes amortization (2) Segment assets include receivables, prepaids, inventories, property, plant and equipment, and mineral interests
Assets | March 31, 2020 |  | December 31, 2019
Total assets for reportable segments | $ | 1,203,594 |  |  | $ | 1,215,783 |
Cash and cash equivalents | 52,895 |  |  | 55,645 |
Other assets | 92,608 |  |  | 107,208 |
Total consolidated assets | $ | 1,349,097 |  |  | $ | 1,378,636 |
Geographic Information
Long-Lived Assets | March 31, 2020 |  | December 31, 2019
United States | $ | 486,989 |  |  | $ | 494,286 |
Mexico | 306,651 |  |  | 312,168 |
Canada | 147,828 |  |  | 146,804 |
Other | 3,510 |  |  | 7,486 |
Total | $ | 944,978 |  |  | $ | 960,744 |
Revenue | Three months ended March 31,
2020 |  | 2019
United States | $ | 96,945 |  |  | $ | 90,699 |
Mexico | 74,339 |  |  | 53,225 |
Canada | 1,883 |  |  | 10,946 |
Total | $ | 173,167 |  |  | $ | 154,870 |

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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