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Income and Mining Taxes (Tables) | 12 Months Ended
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Dec. 31, 2023
Income Tax Disclosure [Abstract] |
Schedule of Components of Income Tax Expense (Benefit) | The components of Income (loss) before income taxes are below:
| Year Ended December 31,
In thousands | 2023 |  | 2022 |  | 2021
United States | $ | (107,021) |  |  | $ | (107,477) |  |  | $ | (34,196) |
Foreign | 38,565 |  |  | 44,028 |  |  | 37,832 |
Total | $ | (68,456) |  |  | $ | (63,449) |  |  | $ | 3,636 |
The components of the consolidated Income and mining tax (expense) benefit from continuing operations are below:
| Year Ended December 31,
In thousands | 2023 |  | 2022 |  | 2021
Current: |  |  |  |  |
United States | $ | 981 |  |  | $ | (21) |  |  | $ | 25 |
United States — State mining taxes | (7,047) |  |  | (2,936) |  |  | (5,691) |
United States — Foreign withholding tax | (119) |  |  | (300) |  |  | (862) |
Canada | (848) |  |  | (305) |  |  | — |
Mexico | (30,222) |  |  | (29,546) |  |  | (31,175) |
Other | — |  |  | — |  |  | — |
Deferred: |  |  |  |  |
United States | 305 |  |  | 215 |  |  | (651) |
United States — State mining taxes | (1,076) |  |  | 5,558 |  |  | 1,037 |
Canada | — |  |  | 254 |  |  | 1,224 |
Mexico | 2,870 |  |  | 12,423 |  |  | 1,135 |
Other | — |  |  | — |  |  | — |
Income tax (expense) benefit | $ | (35,156) |  |  | $ | (14,658) |  |  | $ | (34,958) |
Schedule of Effective Income Tax Rate Reconciliation | The Company’s Income and mining tax benefit (expense) differed from the amounts computed by applying the United States statutory corporate income tax rate for the following reasons:
| Year Ended December 31,
In thousands | 2023 |  | 2022 |  | 2021
Income and mining tax (expense) benefit at statutory rate | $ | 14,376 |  |  | $ | 13,249 |  |  | $ | (764) |
State tax provision from continuing operations | 4,859 |  |  | 2,871 |  |  | 2,009 |
Change in valuation allowance | (36,778) |  |  | (36,670) |  |  | (28,615) |
Percentage depletion | 5,649 |  |  | 3,538 |  |  | 4,968 |
Uncertain tax positions | 6 |  |  | 655 |  |  | 920 |
U.S. and foreign permanent differences | (3,056) |  |  | 365 |  |  | 4,105 |
Foreign exchange rates | 1,179 |  |  | (145) |  |  | (384) |
Foreign inflation and indexing | 3,077 |  |  | 2,897 |  |  | (1,087) |
Foreign tax rate differences | (3,911) |  |  | (4,994) |  |  | (4,901) |
Mining, foreign withholding, and other taxes | (18,265) |  |  | (11,070) |  |  | (12,599) |
Sale of non-core assets | (1,322) |  |  | 15,447 |  |  | — |
Other, net | (970) |  |  | (801) |  |  | 1,390 |
Income and mining tax (expense) benefit | $ | (35,156) |  |  | $ | (14,658) |  |  | $ | (34,958) |
Schedule of Deferred Tax Assets and Liabilities | At December 31, 2023 and 2022, the significant components of the Company’s deferred tax assets and liabilities are below:
| Year Ended December 31,
In thousands | 2023 |  | 2022
Deferred tax liabilities: |  |  |
Other | $ | — |  |  | $ | — |
| $ | — |  |  | $ | — |
Deferred tax assets: |  |  |
Net operating loss carryforwards | $ | 302,114 |  |  | $ | 282,776 |
Mineral properties | 44,244 |  |  | 31,095 |
Property, plant, and equipment | 12,068 |  |  | 12,562 |
Mining royalty tax | 7,345 |  |  | 7,440 |
Capital loss carryforwards | 5,167 |  |  | 1,784 |
Asset retirement obligation | 45,155 |  |  | 44,413 |
Unrealized foreign currency loss and other | — |  |  | — |
Accrued expenses | 25,321 |  |  | 30,379 |
Tax credit carryforwards | 14,506 |  |  | 16,167 |
Other long-term assets | 11,566 |  |  | 3,914 |
| $ | 467,486 |  |  | $ | 430,530 |
Valuation allowance | (479,846) |  |  | (444,989) |
| $ | (12,360) |  |  | $ | (14,459) |
Net deferred tax liabilities | $ | 12,360 |  |  | $ | 14,459 |
Summary of Valuation Allowance | Based upon this analysis, the Company has recorded valuation allowances as follows:
| Year Ended December 31,
In thousands | 2023 |  | 2022 |  |
U.S. | $ | 262,059 |  |  | $ | 245,899 |  |  |
Canada | 194,727 |  |  | 178,310 |  |  |
Mexico | 723 |  |  | 441 |  |  |
New Zealand | 22,229 |  |  | 19,993 |  |  |
Other | 108 |  |  | 346 |  |  |
| $ | 479,846 |  |  | $ | 444,989 |  |  |
Summary of Tax Credit Carryforwards | The Company has the following tax attribute carryforwards at December 31, 2023, by jurisdiction:
In thousands | U.S. |  | Canada |  |  |  | Mexico |  | New Zealand |  | Other |  | Total |  |  |  |  |  |
Regular net operating losses | $ | 623,108 |  |  | $ | 440,506 |  |  |  |  | $ | 1,998 |  |  | $ | 79,886 |  |  | $ | 429 |  |  | $ | 1,145,927 |  |  |  |  |  |  |
Expiration years | 2024-2037, Indefinite |  | 2028-2043 |  |  |  | 2029-2034 |  | Indefinite |  | 2025-2028 |  |  |  |  |  |  |  |
Capital losses | — |  |  | — |  |  |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  |
Foreign tax credits | 10,864 |  |  | — |  |  |  |  | — |  |  | — |  |  | — |  |  | 10,864 |  |  |  |  |  |  |
Summary of Income Tax Contingencies | A reconciliation of the beginning and ending amount related to unrecognized tax benefits is below (in thousands):
Unrecognized tax benefits at December 31, 2021 | $ | 295 |
Gross increase to current period tax positions | — |
Gross increase to prior period tax positions | 24 |
Reductions in unrecognized tax benefits resulting from a lapse of the applicable statute of limitations | (315) |
Unrecognized tax benefits at December 31, 2022 | $ | 4 |
Gross increase to current period tax positions | $ | — |
Gross increase to prior period tax positions | $ | 1 |
Reductions in unrecognized tax benefits resulting from a lapse of the applicable statute of limitations | $ | (3) |
Unrecognized tax benefits at December 31, 2023 | $ | 2 |

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