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Segment Reporting (Tables) | 12 Months Ended
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Dec. 31, 2020
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, 2020 | Palmarejo |  | Rochester |  | Kensington |  | Wharf |  | Silvertip |  | Other |  | Total
Revenue |  |  |  |  |  |  |  |  |  |  |  |  |
Gold sales | $ | 154,056 |  |  | $ | 46,337 |  |  | $ | 216,497 |  |  | $ | 167,743 |  |  | $ | — |  |  | $ | — |  |  | $ | 584,633 |
Silver sales | 132,525 |  |  | 63,916 |  |  | — |  |  | 2,504 |  |  | 1,230 |  |  | — |  |  | 200,175 |
Zinc sales | — |  |  | — |  |  | — |  |  | — |  |  | (662) |  |  | — |  |  | (662) |
Lead sales | — |  |  | — |  |  | — |  |  | — |  |  | 1,315 |  |  | — |  |  | 1,315 |
Metal sales | 286,581 |  |  | 110,253 |  |  | 216,497 |  |  | 170,247 |  |  | 1,883 |  |  | — |  |  | 785,461 |
Costs and Expenses |  |  |  |  |  |  |  |  |  |  |  |  |
Costs applicable to sales(1) | 125,204 |  |  | 86,112 |  |  | 121,727 |  |  | 89,635 |  |  | 17,657 |  |  | — |  |  | 440,335 |
Amortization | 44,873 |  |  | 14,306 |  |  | 49,477 |  |  | 12,473 |  |  | 8,923 |  |  | 1,335 |  |  | 131,387 |
Exploration | 6,955 |  |  | 3,303 |  |  | 8,568 |  |  | 905 |  |  | 12,228 |  |  | 10,684 |  |  | 42,643 |
Write-downs | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Other operating expenses | 7,927 |  |  | 5,144 |  |  | 12,012 |  |  | 838 |  |  | 23,123 |  |  | 40,332 |  |  | 89,376 |
Other income (expense) |  |  |  |  |  |  |  |  |  |  |  |  |
Loss on debt extinguishment | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Fair value adjustments, net | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 7,601 |  |  | 7,601 |
Interest expense, net | (918) |  |  | (1,142) |  |  | (1,017) |  |  | (182) |  |  | (672) |  |  | (16,777) |  |  | (20,708) |
Other, net | (5,273) |  |  | (2,718) |  |  | (18) |  |  | (69) |  |  | 1,793 |  |  | 344 |  |  | (5,941) |
Income and mining tax (expense) benefit | (28,029) |  |  | (863) |  |  | (1,244) |  |  | (6,644) |  |  | — |  |  | (265) |  |  | (37,045) |
Income (loss) from continuing operations | $ | 67,402 |  |  | $ | (3,335) |  |  | $ | 22,434 |  |  | $ | 59,501 |  |  | $ | (58,927) |  |  | $ | (61,448) |  |  | $ | 25,627 |
Income (loss) from discontinued operations | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Segment assets(2) | $ | 305,291 |  |  | $ | 346,986 |  |  | $ | 169,414 |  |  | $ | 75,047 |  |  | $ | 157,529 |  |  | $ | 177,886 |  |  | $ | 1,232,153 |
Capital expenditures | $ | 25,511 |  |  | $ | 37,542 |  |  | $ | 19,825 |  |  | $ | 2,447 |  |  | $ | 13,144 |  |  | $ | 810 |  |  | $ | 99,279 |
(1) Excludes amortization (2) Segment assets include receivables, prepaids, inventories, property, plant and equipment, and mineral interests
Year Ended December 31, 2019 | Palmarejo |  | Rochester |  | Kensington |  | Wharf |  | Silvertip |  | Other |  | Total
Revenue |  |  |  |  |  |  |  |  |  |  |  |  |
Gold sales | $ | 141,669 |  |  | $ | 50,225 |  |  | $ | 181,111 |  |  | $ | 120,342 |  |  | $ | — |  |  | $ | — |  |  | $ | 493,347 |
Silver sales | 111,032 |  |  | 61,799 |  |  | — |  |  | 1,072 |  |  | 17,575 |  |  | $ | — |  |  | 191,478 |
Zinc sales | — |  |  | — |  |  | — |  |  | — |  |  | 12,806 |  |  | — |  |  | 12,806 |
Lead sales | — |  |  | — |  |  | — |  |  | — |  |  | 13,871 |  |  | — |  |  | 13,871 |
Metal sales | 252,701 |  |  | 112,024 |  |  | 181,111 |  |  | 121,414 |  |  | 44,252 |  |  | — |  |  | 711,502 |
Costs and Expenses |  |  |  |  |  |  |  |  |  |  |  |  |
Costs applicable to sales(1) | 141,927 |  |  | 100,205 |  |  | 119,602 |  |  | 80,689 |  |  | 108,758 |  |  | — |  |  | 551,181 |
Amortization | 59,379 |  |  | 18,041 |  |  | 50,592 |  |  | 12,280 |  |  | 36,738 |  |  | 1,846 |  |  | 178,876 |
Exploration | 5,658 |  |  | 657 |  |  | 5,588 |  |  | 272 |  |  | 2,469 |  |  | 7,883 |  |  | 22,527 |
Write-downs | — |  |  | — |  |  | — |  |  | — |  |  | 250,814 |  |  | — |  |  | 250,814 |
Other operating expenses | 4,591 |  |  | 4,572 |  |  | 1,248 |  |  | 2,832 |  |  | 1,216 |  |  | 38,455 |  |  | 52,914 |
Other income (expense) |  |  |  |  |  |  |  |  |  |  |  |  |
Loss on debt extinguishment | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (1,281) |  |  | (1,281) |
Fair value adjustments, net | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 16,030 |  |  | 16,030 |
Interest expense, net | (444) |  |  | (1,015) |  |  | (1,333) |  |  | (100) |  |  | (1,137) |  |  | (20,742) |  |  | (24,771) |
Other, net | (4,798) |  |  | (378) |  |  | (704) |  |  | 89 |  |  | (557) |  |  | 3,155 |  |  | (3,193) |
Income and mining tax (expense) benefit | (14,257) |  |  | (709) |  |  | — |  |  | (3,041) |  |  | 32,084 |  |  | (2,948) |  |  | 11,129 |
Income (loss) from continuing operations | $ | 21,647 |  |  | $ | (13,553) |  |  | $ | 2,044 |  |  | $ | 22,289 |  |  | $ | (325,353) |  |  | $ | (53,970) |  |  | $ | (346,896) |
Income (loss) from discontinued operations | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | — |  |  | $ | 5,693 |  |  | $ | 5,693 |
Segment assets(2) | $ | 319,292 |  |  | $ | 284,878 |  |  | $ | 194,076 |  |  | $ | 84,765 |  |  | 164,125 |  |  | $ | 168,647 |  |  | $ | 1,215,783 |
Capital expenditures | $ | 32,658 |  |  | $ | 22,592 |  |  | $ | 23,513 |  |  | $ | 2,220 |  |  | 17,504 |  |  | $ | 1,285 |  |  | $ | 99,772 |
(1) Excludes amortization (2) Segment assets include receivables, prepaids, inventories, property, plant and equipment, and mineral interests
Year Ended December 31, 2018 | Palmarejo |  | Rochester |  | Kensington |  | Wharf |  | Silvertip |  | Other |  | Total
Revenue |  |  |  |  |  |  |  |  |  |  |  |  |
Gold sales | $ | 131,758 |  |  | $ | 66,556 |  |  | $ | 132,924 |  |  | $ | 95,770 |  |  | $ | — |  |  | $ | — |  |  | $ | 427,008 |
Silver sales | 113,998 |  |  | 75,252 |  |  | — |  |  | 746 |  |  | 3,157 |  |  | $ | — |  |  | 193,153 |
Zinc sales | — |  |  | — |  |  | — |  |  | — |  |  | 3,612 |  |  | — |  |  | 3,612 |
Lead sales | — |  |  | — |  |  | — |  |  | — |  |  | 2,131 |  |  | — |  |  | 2,131 |
Metal sales | 245,756 |  |  | 141,808 |  |  | 132,924 |  |  | 96,516 |  |  | 8,900 |  |  | — |  |  | 625,904 |
Costs and Expenses |  |  |  |  |  |  |  |  |  |  |  |  |
Costs applicable to sales(1) | 120,088 |  |  | 105,677 |  |  | 112,364 |  |  | 67,201 |  |  | 35,620 |  |  | — |  |  | 440,950 |
Amortization | 60,744 |  |  | 20,909 |  |  | 29,508 |  |  | 11,072 |  |  | 5,235 |  |  | 1,005 |  |  | 128,473 |
Exploration | 10,516 |  |  | 332 |  |  | 5,871 |  |  | 104 |  |  | 2,748 |  |  | 5,826 |  |  | 25,397 |
Write-downs | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Other operating expenses | 3,043 |  |  | 7,071 |  |  | 1,721 |  |  | 2,686 |  |  | 303 |  |  | 36,564 |  |  | 51,388 |
Other income (expense) |  |  |  |  |  |  |  |  |  |  |  |  |
Loss on debt extinguishment | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Fair value adjustments, net | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 3,638 |  |  | 3,638 |
Interest expense, net | (2,137) |  |  | (466) |  |  | (973) |  |  | (40) |  |  | (766) |  |  | (19,982) |  |  | (24,364) |
Other, net | (8,308) |  |  | (1,211) |  |  | 2,795 |  |  | (834) |  |  | (370) |  |  | (16,777) |  |  | (24,705) |
Income and mining tax (expense) benefit | (15,724) |  |  | (874) |  |  | — |  |  | (1,063) |  |  | 16,057 |  |  | 18,384 |  |  | 16,780 |
Income (loss) from continuing operations | $ | 25,196 |  |  | $ | 5,268 |  |  | $ | (14,718) |  |  | $ | 13,516 |  |  | $ | (20,085) |  |  | $ | (58,132) |  |  | $ | (48,955) |
Income (loss) from discontinued operations | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | — |  |  | $ | 550 |  |  | $ | 550 |
Segment assets(2) | $ | 363,024 |  |  | $ | 269,903 |  |  | $ | 224,460 |  |  | $ | 102,246 |  |  | 415,998 |  |  | $ | 175,040 |  |  | $ | 1,550,671 |
Capital expenditures | $ | 29,425 |  |  | $ | 9,919 |  |  | $ | 44,738 |  |  | $ | 3,382 |  |  | 52,932 |  |  | $ | 391 |  |  | $ | 140,787 |
(1) Excludes amortization (2) Segment assets include receivables, prepaids, inventories, property, plant and equipment, and mineral interests
Consolidated Assets |
Assets | December 31, 2020 |  | December 31, 2019
Total assets for reportable segments | $ | 1,232,153 |  |  | $ | 1,215,783 |
Cash and cash equivalents | 92,794 |  |  | 55,645 |
Other assets | 79,030 |  |  | 107,208 |
Total consolidated assets | $ | 1,403,977 |  |  | $ | 1,378,636 |
Long Lived Assets by Country | Geographic Information
Long-Lived Assets | December 31, 2020 |  | December 31, 2019
United States | $ | 503,818 |  |  | $ | 494,286 |
Mexico | 293,436 |  |  | 312,168 |
Canada | 149,018 |  |  | 146,804 |
Other | 657 |  |  | 7,486 |
Total | $ | 946,929 |  |  | $ | 960,744 |
Revenue by Country |
Revenue |  |  | Year ended December 31,
|  |  |  | 2020 |  | 2019 |  | 2018
United States |  |  |  |  | $ | 496,997 |  |  | $ | 414,548 |  |  | $ | 371,248 |
Mexico |  |  |  |  | 286,581 |  |  | 252,701 |  |  | 245,756 |
Canada |  |  |  |  | 1,883 |  |  | 44,253 |  |  | 8,900 |
Total |  |  |  |  | $ | 785,461 |  |  | $ | 711,502 |  |  | $ | 625,904 |
Major Customers by Reporting Segments | The following table indicates customers that represent 10% or more of total sales of metal for at least one of the years December 31, 2020, 2019, and 2018 (in millions):
| Year ended December 31, |
Customer | 2020 |  | 2019 |  | 2018 | Segments reporting revenue
Asahi | $ | 272.1 |  |  | $ | 341.0 |  |  | $ | 213.0 |  | Palmarejo, Wharf, Rochester, Kensington
Ocean Partners | 161.0 |  |  | 149.7 |  |  | 74.8 |  | Silvertip, Kensington
Toronto Dominion Bank | 88.6 |  |  | 35.1 |  |  | 44.9 |  | Rochester
Techemet Metal Trading | 81.8 |  |  | 9.4 |  |  | 83.3 |  | Rochester, Wharf
Argor-Heraeus | 79.9 |  |  | 23.1 |  |  | — |  | Palmarejo
RMC | — |  |  | — |  |  | 71.7 |  | Palmarejo, Rochester
China National Gold | — |  |  | — |  |  | 54.1 |  | Kensington

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