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v3.23.1

Segment Reporting (Tables) | 3 Months Ended
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Mar. 31, 2023
Segment Reporting [Abstract] |
Financial information relating to the reporting segments | Financial information relating to the Company’s segments is as follows (in thousands):
Three Months Ended March 31, 2023 | Palmarejo |  | Rochester |  | Kensington |  | Wharf |  | Silvertip |  | Other |  | Total
Revenue |  |  |  |  |  |  |  |  |  |  |  |  |
Gold sales | $ | 40,607 |  |  | $ | 16,047 |  |  | $ | 40,124 |  |  | $ | 30,323 |  |  | $ | — |  |  | $ | — |  |  | $ | 127,101 |
Silver sales | 41,700 |  |  | 17,853 |  |  | 74 |  |  | 570 |  |  | — |  |  | — |  |  | 60,197 |
Metal sales | 82,307 |  |  | 33,900 |  |  | 40,198 |  |  | 30,893 |  |  | — |  |  | — |  |  | 187,298 |
Costs and Expenses |  |  |  |  |  |  |  |  |  |  |  |  |
Costs applicable to sales(1) | 49,265 |  |  | 42,865 |  |  | 37,382 |  |  | 23,544 |  |  | — |  |  | — |  |  | 153,056 |
Amortization | 8,719 |  |  | 5,218 |  |  | 5,844 |  |  | 1,409 |  |  | 1,221 |  |  | 297 |  |  | 22,708 |
Exploration | 1,313 |  |  | 383 |  |  | 996 |  |  | — |  |  | 1,497 |  |  | 461 |  |  | 4,650 |
Other operating expenses | 1,526 |  |  | 2,025 |  |  | 984 |  |  | 1,014 |  |  | 6,546 |  |  | 10,878 |  |  | 22,973 |
Other income (expense) |  |  |  |  |  |  |  |  |  |  |  |  |
Fair value adjustments, net | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 10,561 |  |  | 10,561 |
Interest expense, net | 122 |  |  | (175) |  |  | (530) |  |  | (14) |  |  | (22) |  |  | (6,770) |  |  | (7,389) |
Other, net(3) | (138) |  |  | (93) |  |  | (71) |  |  | (476) |  |  | (9) |  |  | (174) |  |  | (961) |
Income and mining tax (expense) benefit | (9,702) |  |  | 239 |  |  | — |  |  | (419) |  |  | — |  |  | (826) |  |  | (10,708) |
Net Income (loss) | $ | 11,766 |  |  | $ | (16,620) |  |  | $ | (5,609) |  |  | $ | 4,017 |  |  | $ | (9,295) |  |  | $ | (8,845) |  |  | $ | (24,586) |
Segment assets(2) | $ | 306,852 |  |  | $ | 877,844 |  |  | $ | 152,946 |  |  | $ | 107,417 |  |  | $ | 242,886 |  |  | $ | 49,056 |  |  | $ | 1,737,001 |
Capital expenditures | $ | 10,150 |  |  | $ | 51,962 |  |  | $ | 10,702 |  |  | $ | 121 |  |  | $ | 669 |  |  | $ | 444 |  |  | $ | 74,048 |
(1) Excludes amortization (2) Segment assets include receivables, prepaids, inventories, property, plant and equipment, and mineral interests (3) See Note 13 -- Additional Comprehensive Income (Loss) Detail for additional detail
Three Months Ended March 31, 2022 | Palmarejo |  | Rochester |  | Kensington |  | Wharf |  | Silvertip |  | Other (4) |  | 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 13 -- Additional Comprehensive Income (Loss) Detail for additional detail (4) Includes Sterling/Crown exploration properties and La Preciosa project that were disposed of in 2022, see Note 21 -- Dispositions contained in the 2022 10-K for additional information.
Consolidated Assets |
Assets | March 31, 2023 |  | December 31, 2022
Total assets for reportable segments | $ | 1,737,001 |  |  | $ | 1,669,982 |
Cash and cash equivalents | 66,977 |  |  | 61,464 |
Other assets | 85,427 |  |  | 114,697 |
Total consolidated assets | $ | 1,889,405 |  |  | $ | 1,846,143 |
Long Lived Assets by Country | Geographic Information
Long-Lived Assets | March 31, 2023 |  | December 31, 2022
United States | $ | 974,500 |  |  | $ | 899,960 |
Mexico | 255,008 |  |  | 251,950 |
Canada | 236,952 |  |  | 237,723 |
Other | 122 |  |  | 122 |
Total | $ | 1,466,582 |  |  | $ | 1,389,755 |
Revenue by Country |
Revenue |  |  | Three months ended March 31,
|  |  |  | 2023 |  | 2022 |  |
United States |  |  |  |  | $ | 104,991 |  |  | $ | 105,331 |  |  |
Mexico |  |  |  |  | 82,307 |  |  | 83,073 |  |  |
Total |  |  |  |  | $ | 187,298 |  |  | $ | 188,404 |  |  |

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