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Fair Value Measurements (Tables) | 3 Months Ended
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Mar. 31, 2022
Fair Value Disclosures [Abstract] |
Schedule of Fair Value Adjustments to Comprehensive income (Loss) |
|  |  | Three Months Ended March 31,
In thousands |  |  |  |  | 2022 |  | 2021 |  |
Unrealized gain (loss) on equity securities |  |  |  |  | $ | 13,744 |  |  | $ | (4,568) |  |  |
Realized gain (loss) on equity securities |  |  |  |  | — |  |  | 769 |  |  |
Termination of gold zero cost collars |  |  |  |  | (3,139) |  |  | — |  |  |
Fair value adjustments, net |  |  |  |  | $ | 10,605 |  |  | $ | (3,799) |  |  |
Financial assets and liabilities measured at fair value on recurring basis | The following table presents the Company’s financial assets and liabilities measured at fair value on a recurring basis (at least annually) by level within the fair value hierarchy. Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement:
| Fair Value at March 31, 2022
In thousands | Total |  | Level 1 |  | Level 2 |  | Level 3
Assets: |  |  |  |  |  |  |
Equity securities including warrants | $ | 164,127 |  |  | $ | 161,894 |  |  | $ | 2,233 |  |  | $ | — |
Provisional metal sales contracts | 461 |  |  | — |  |  | 461 |  |  | — |
| $ | 164,588 |  |  | $ | 161,894 |  |  | $ | 2,694 |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |
Gold forwards | $ | 1,832 |  |  | $ | — |  |  | $ | 1,832 |  |  | $ | — |
Provisional metal sales contracts | 46 |  |  | — |  |  | 46 |  |  | — |
| $ | 1,878 |  |  | $ | — |  |  | $ | 1,878 |  |  | $ | — |
| Fair Value at December 31, 2021
In thousands | Total |  | Level 1 |  | Level 2 |  | Level 3
Assets: |  |  |  |  |  |  |
Equity securities | $ | 132,197 |  |  | $ | 132,197 |  |  | $ | — |  |  | $ | — |
Provisional metal sales contracts | 86 |  |  | — |  |  | 86 |  |  | — |
| $ | 132,283 |  |  | $ | 132,197 |  |  | $ | 86 |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |
Gold zero cost collars | $ | 1,212 |  |  | $ | — |  |  | $ | 1,212 |  |  | $ | — |
Provisional metal sales contracts | 162 |  |  | — |  |  | 162 |  |  | — |
| $ | 1,374 |  |  | $ | — |  |  | $ | 1,374 |  |  | $ | — |
Changes in the fair value of the Company's Level 3 financial liabilities | The following table presents the changes in the fair value of the Company's Level 3 financial assets:
In thousands | Fair value at December 31, 2021 |  |  |  | Initial valuation |  | Revaluation |  |  |  | Fair value at March 31, 2022
Assets: |  |  |  |  |  |  |  |  |  |  |
Royalties | $ | — |  |  |  |  | $ | 11,200 |  |  | $ | — |  |  |  |  | $ | 11,200 |
Contingent consideration | $ | — |  |  |  |  | $ | 1,150 |  |  | $ | — |  |  |  |  | $ | 1,150 |
| $ | — |  |  |  |  | $ | 12,350 |  |  | $ | — |  |  |  |  | $ | 12,350 |
No assets or liabilities were transferred between fair value levels in the three months ended March 31, 2022.
Financial Assets and Liabilities not Measured at Fair Value | The fair value of financial assets and liabilities carried at book value in the financial statements at March 31, 2022 and December 31, 2021 is presented in the following table:
| March 31, 2022
In thousands | Book Value |  | Fair Value |  | Level 1 |  | Level 2 |  | Level 3
Assets: |  |  |  |  |  |  |  |  |
Promissory note | $ | 4,709 |  |  | $ | 4,709 |  |  | $ | — |  |  | $ | 4,709 |  |  | $ | — |
Deferred cash consideration | $ | 7,350 |  |  | $ | 7,350 |  |  | $ | — |  |  | $ | 7,350 |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |  |  |
2029 Senior Notes(1) | $ | 368,508 |  |  | $ | 319,390 |  |  | $ | — |  |  | $ | 319,390 |  |  | $ | — |
Revolving Credit Facility(2) | $ | 55,000 |  |  | $ | 55,000 |  |  | $ | — |  |  | $ | 55,000 |  |  | $ | — |
(1) Net of unamortized debt issuance costs of $6.5 million (2) Unamortized debt issuance costs of $2.2 million included in Other Non-Current Assets.
| December 31, 2021
In thousands | Book Value |  | Fair Value |  | Level 1 |  | Level 2 |  | Level 3
Liabilities: |  |  |  |  |  |  |  |  |
2029 Senior Notes(1) | $ | 368,273 |  |  | $ | 337,384 |  |  | $ | — |  |  | $ | 337,384 |  |  | $ | — |
Revolving Credit Facility(2) | $ | 65,000 |  |  | $ | 65,000 |  |  | $ | — |  |  | $ | 65,000 |  |  | $ | — |
(1) Net of unamortized debt issuance costs of $6.7 million. (2) Unamortized debt issuance costs of $2.4 million included in Other Non-Current Assets.

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- Definition Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19279-110258 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
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