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Segment Reporting | 3 Months Ended
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Mar. 31, 2022
Segment Reporting [Abstract] |
SEGMENT REPORTING | SEGMENT REPORTING The Company’s operating segments include the Palmarejo, Rochester, Kensington and Wharf mines and Silvertip development property. Except for the Silvertip development property, all operating segments are engaged in the discovery, mining, and production of gold and/or silver. The Silvertip development property, which suspended mining and processing activities in February 2020, is engaged in the discovery of silver, zinc and lead. Other includes the Sterling/Crown development properties, 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, 2022 | Palmarejo |  | Rochester |  | Kensington |  | Wharf |  | Silvertip |  | Other |  | Total
Revenue |  |  |  |  |  |  |  |  |  |  |  |  |
Gold sales | $ | 40,074 |  |  | $ | 11,052 |  |  | $ | 44,059 |  |  | $ | 34,266 |  |  | $ | — |  |  | $ | — |  |  | $ | 129,451 |
Silver sales | 42,999 |  |  | 15,317 |  |  | 245 |  |  | 392 |  |  | — |  |  | — |  |  | 58,953 |
Metal sales | 83,073 |  |  | 26,369 |  |  | 44,304 |  |  | 34,658 |  |  | — |  |  | — |  |  | 188,404 |
Costs and Expenses |  |  |  |  |  |  |  |  |  |  |  |  |
Costs applicable to sales(1) | 43,225 |  |  | 32,275 |  |  | 36,910 |  |  | 20,857 |  |  | — |  |  | — |  |  | 133,267 |
Amortization | 9,386 |  |  | 4,710 |  |  | 8,622 |  |  | 2,061 |  |  | 1,259 |  |  | 395 |  |  | 26,433 |
Exploration | 1,610 |  |  | 1,942 |  |  | 402 |  |  | — |  |  | — |  |  | 1,464 |  |  | 5,418 |
Other operating expenses | 921 |  |  | 1,831 |  |  | 615 |  |  | 512 |  |  | 6,494 |  |  | 11,311 |  |  | 21,684 |
Other income (expense) |  |  |  |  |  |  |  |  |  |  |  |  |
Fair value adjustments, net | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 10,605 |  |  | 10,605 |
Interest expense, net | (115) |  |  | (178) |  |  | (248) |  |  | (13) |  |  | (68) |  |  | (3,946) |  |  | (4,568) |
Other, net(3) | (339) |  |  | (48) |  |  | 106 |  |  | 39 |  |  | (5) |  |  | 1,984 |  |  | 1,737 |
Income and mining tax (expense) benefit | (12,075) |  |  | (35) |  |  | — |  |  | (993) |  |  | — |  |  | 11,409 |  |  | (1,694) |
Net Income (loss) | $ | 15,402 |  |  | $ | (14,650) |  |  | $ | (2,387) |  |  | $ | 10,261 |  |  | $ | (7,826) |  |  | $ | 6,882 |  |  | $ | 7,682 |
Segment assets(2) | $ | 288,081 |  |  | $ | 618,481 |  |  | $ | 149,840 |  |  | $ | 91,527 |  |  | $ | 234,693 |  |  | $ | 127,015 |  |  | $ | 1,509,637 |
Capital expenditures | $ | 13,611 |  |  | $ | 33,050 |  |  | $ | 7,924 |  |  | $ | 1,361 |  |  | $ | 11,859 |  |  | $ | 1,697 |  |  | $ | 69,502 |
(1) Excludes amortization (2) Segment assets include receivables, prepaids, inventories, property, plant and equipment, and mineral interests (3) See Note 14 -- Additional Comprehensive Income (Loss) Detail for additional detail
Three Months Ended March 31, 2021 | Palmarejo |  | Rochester |  | Kensington |  | Wharf |  | Silvertip |  | Other |  | Total
Revenue |  |  |  |  |  |  |  |  |  |  |  |  |
Gold sales | $ | 37,567 |  |  | $ | 12,440 |  |  | $ | 54,466 |  |  | $ | 33,849 |  |  | $ | — |  |  | $ | — |  |  | $ | 138,322 |
Silver sales | 42,778 |  |  | 20,317 |  |  | — |  |  | 700 |  |  | — |  |  | — |  |  | 63,795 |
Metal sales | 80,345 |  |  | 32,757 |  |  | 54,466 |  |  | 34,549 |  |  | — |  |  | — |  |  | 202,117 |
Costs and Expenses |  |  |  |  |  |  |  |  |  |  |  |  |
Costs applicable to sales(1) | 33,988 |  |  | 24,033 |  |  | 31,394 |  |  | 18,732 |  |  | — |  |  | — |  |  | 108,147 |
Amortization | 9,059 |  |  | 3,577 |  |  | 13,445 |  |  | 2,475 |  |  | 1,086 |  |  | 295 |  |  | 29,937 |
Exploration | 1,693 |  |  | 472 |  |  | 1,109 |  |  | 67 |  |  | 2,932 |  |  | 3,393 |  |  | 9,666 |
Other operating expenses | 1,270 |  |  | 1,448 |  |  | 2,995 |  |  | 185 |  |  | 6,555 |  |  | 12,813 |  |  | 25,266 |
Other income (expense) |  |  |  |  |  |  |  |  |  |  |  |  |
Loss on debt extinguishment | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (9,173) |  |  | (9,173) |
Fair value adjustments, net | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (3,799) |  |  | (3,799) |
Interest expense, net | (187) |  |  | (222) |  |  | (232) |  |  | (37) |  |  | 45 |  |  | (4,277) |  |  | (4,910) |
Other, net(3) | (665) |  |  | (61) |  |  | — |  |  | 24 |  |  | (102) |  |  | 4,431 |  |  | 3,627 |
Income and mining tax (expense) benefit | (11,340) |  |  | (138) |  |  | (334) |  |  | (1,129) |  |  | — |  |  | 155 |  |  | (12,786) |
Net Income (loss) | $ | 22,143 |  |  | $ | 2,806 |  |  | $ | 4,957 |  |  | $ | 11,948 |  |  | $ | (10,630) |  |  | $ | (29,164) |  |  | $ | 2,060 |
Segment assets(2) | $ | 306,648 |  |  | $ | 388,047 |  |  | $ | 162,727 |  |  | $ | 79,018 |  |  | $ | 169,328 |  |  | $ | 177,516 |  |  | $ | 1,283,284 |
Capital expenditures | $ | 9,983 |  |  | $ | 30,177 |  |  | $ | 7,202 |  |  | $ | 1,481 |  |  | $ | 10,387 |  |  | $ | 194 |  |  | $ | 59,424 |
(1) Excludes amortization (2) Segment assets include receivables, prepaids, inventories, property, plant and equipment, and mineral interests (3) See Note 14 -- Additional Comprehensive Income (Loss) Detail for additional detail
Assets | March 31, 2022 |  | December 31, 2021
Total assets for reportable segments | $ | 1,509,637 |  |  | $ | 1,424,934 |
Cash and cash equivalents | 73,330 |  |  | 56,664 |
Other assets | 234,234 |  |  | 252,824 |
Total consolidated assets | $ | 1,817,201 |  |  | $ | 1,734,422 |
Geographic Information
Long-Lived Assets | March 31, 2022 |  | December 31, 2021
United States | $ | 774,536 |  |  | $ | 704,007 |
Mexico | 247,218 |  |  | 244,758 |
Canada | 228,715 |  |  | 223,876 |
Other | 124 |  |  | 125 |
Total | $ | 1,250,593 |  |  | $ | 1,172,766 |
Revenue |  |  | Three months ended March 31,
|  |  |  | 2022 |  | 2021 |  |
United States |  |  |  |  | $ | 105,331 |  |  | $ | 121,772 |  |  |
Mexico |  |  |  |  | 83,073 |  |  | 80,345 |  |  |
Total |  |  |  |  | $ | 188,404 |  |  | $ | 202,117 |  |  |

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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://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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