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Note 6 - Business Segments | 6 Months Ended
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Jun. 30, 2017
Notes to Financial Statements |
Segment Reporting Disclosure [Text Block] |
Note 6. | Business Segments
We are currently organized and managed in four segments: the Greens Creek unit, the Lucky Friday unit, the Casa Berardi unit, and the San Sebastian unit. General corporate activities not associated with operating units and their various exploration activities, as well as discontinued operations and idle properties, are presented as “other.” Interest expense, interest income and income taxes are considered general corporate items, and are not allocated to our segments. The following tables present information about reportable segments for the three and six months ended June 30, 2017 and 2016 (in thousands):
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2017 |  |  | 2016 |  |  | 2017 |  |  | 2016 |
Net sales to unaffiliated customers: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Greens Creek |  | $ | 71,339 |  |  | $ | 59,574 |  |  | $ | 130,189 |  |  | $ | 113,456 |
Lucky Friday |  |  | (187 | ) |  |  | 22,760 |  |  |  | 19,823 |  |  |  | 44,012 |
Casa Berardi |  |  | 43,822 |  |  |  | 53,285 |  |  |  | 85,534 |  |  |  | 85,483 |
San Sebastian |  |  | 19,305 |  |  |  | 35,683 |  |  |  | 41,277 |  |  |  | 59,368 |
|  | $ | 134,279 |  |  | $ | 171,302 |  |  | $ | 276,823 |  |  | $ | 302,319 |
Income (loss) from operations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Greens Creek |  | $ | 15,418 |  |  | $ | 14,831 |  |  | $ | 29,532 |  |  | $ | 22,909 |
Lucky Friday |  |  | (8,212 | ) |  |  | 4,047 |  |  |  | (4,332 | ) |  |  | 6,790 |
Casa Berardi |  |  | (1,708 | ) |  |  | 10,622 |  |  |  | (3,953 | ) |  |  | 12,556 |
San Sebastian |  |  | 11,892 |  |  |  | 25,583 |  |  |  | 25,346 |  |  |  | 40,495 |
Other |  |  | (13,415 | ) |  |  | (13,473 | ) |  |  | (26,747 | ) |  |  | (25,567 | )
|  | $ | 3,975 |  |  | $ | 41,610 |  |  | $ | 19,846 |  |  | $ | 57,183 |
The following table presents identifiable assets by reportable segment as of June 30, 2017 and December 31, 2016 (in thousands):
|  | June 30, 2017 |  |  | December 31, 2016 |
Identifiable assets: |  |  |  |  |  |  |  |
Greens Creek |  | $ | 674,210 |  |  | $ | 681,303 |
Lucky Friday |  |  | 431,331 |  |  |  | 442,829 |
Casa Berardi |  |  | 807,180 |  |  |  | 806,044 |
San Sebastian |  |  | 43,268 |  |  |  | 33,608 |
Other |  |  | 423,167 |  |  |  | 407,893 |
|  | $ | 2,379,156 |  |  | $ | 2,371,677 |
The sales and income (loss) from operations amounts reported above include results from our Lucky Friday segment. The Lucky Friday mine is our only operation where some of our employees are subject to a collective bargaining agreement, and the most recent agreement expired on April 30, 2016. On February 19, 2017, the unionized employees voted against our contract offer and on March 13, 2017 went on strike and have been on strike since that time. Production at Lucky Friday has been suspended since the start of the strike. For the first six months of 2017, suspension costs during the strike period of $7.6 million, along with $2.0 million in non-cash depreciation expense, are reported in a separate line item on our unaudited condensed consolidated statement of operations. We cannot predict how long the strike will last or whether an agreement will be reached. As a result of the strike or other events related to labor at Lucky Friday, operations at Lucky Friday could continue to be disrupted, which could adversely affect our financial condition and results of operations.

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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/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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