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Note 14 - Guarantor Subsidiaries (Tables)

9 Months Ended

Sep. 30, 2019

Notes Tables

Condensed Balance Sheet [Table Text Block]

		As of September 30, 2019
		Parent				Guarantors				Non-Guarantors				Eliminations				Consolidated
		(in thousands)
Assets
Cash and cash equivalents		$	18,983			$	9,608			$	4,404			$	—			$	32,995
Other current assets			7,031				113,542				25,430				(72	)			145,931
Properties, plants, equipment and mineral interests - net			1,913				2,438,137				15,461				—				2,455,511
Intercompany receivable (payable)			143,248				(709,012	)			149,616				416,148				—
Investments in subsidiaries			1,499,318				—				—				(1,499,318	)			—
Other non-current assets			284,380				25,380				(120,645	)			(150,374	)			38,741
Total assets		$	1,954,873			$	1,877,655			$	74,266			$	(1,233,616	)		$	2,673,178
Liabilities and Stockholders' Equity
Current liabilities		$	(298,754	)		$	165,564			$	10,704			$	268,329			$	145,843
Long-term debt			584,618				19,159				876				—				604,653
Non-current portion of accrued reclamation			—				95,674				8,147				—				103,821
Non-current deferred tax liability			—				146,069				—				(2,627	)			143,442
Other non-current liabilities			52,365				5,393				1,017				—				58,775
Shareholders' equity			1,616,644				1,445,796				53,522				(1,499,318	)			1,616,644
Total liabilities and stockholders' equity		$	1,954,873			$	1,877,655			$	74,266			$	(1,233,616	)		$	2,673,178

		As of December 31, 2018
		Parent				Guarantors				Non-Guarantors				Eliminations				Consolidated
						Revised				Revised
		(in thousands)
Assets
Cash and cash equivalents		$	6,266			$	17,233			$	3,890			$	—			$	27,389
Other current assets			6,388				105,900				24,542				(69	)			136,761
Properties, plants, equipment and mineral interests, net			1,913				2,503,467				14,624				—				2,520,004
Intercompany receivable (payable)			171,908				(546,374	)			152,031				222,435				—
Investments in subsidiaries			1,577,869				—				—				(1,577,869	)			—
Other non-current assets			276,641				10,906				(124,845	)			(142,912	)			19,790
Total assets		$	2,040,985			$	2,091,132			$	70,242			$	(1,498,415	)		$	2,703,944
Liabilities and Stockholders' Equity
Current liabilities		$	(233,824	)		$	157,640			$	7,145			$	205,233			$	136,194
Long-term debt			532,799				143,858				1				(135,988	)			540,670
Non-current portion of accrued reclamation			—				100,445				4,534				—				104,979
Non-current deferred tax liability			—				163,328				—				10,209				173,537
Other non-current liabilities			51,047				5,641				913				—				57,601
Stockholders' equity			1,690,963				1,520,220				57,649				(1,577,869	)			1,690,963
Total liabilities and stockholders' equity		$	2,040,985			$	2,091,132			$	70,242			$	(1,498,415	)		$	2,703,944

Condensed Income Statement [Table Text Block]

		Three Months Ended September 30, 2019
		Parent				Guarantors				Non-Guarantors				Eliminations				Consolidated
		(in thousands)
Revenues		$	1,049			$	144,999			$	15,484			$	—			$	161,532
Cost of sales			(472	)			(85,829	)			(9,577	)			—				(95,878	)
Depreciation, depletion, amortization			—				(47,448	)			(3,326	)			—				(50,774	)
General and administrative			(2,951	)			(4,722	)			(305	)			—				(7,978	)
Exploration and pre-development			(3	)			(4,315	)			(1,371	)			—				(5,689	)
Research and development			—				37				(90	)			—				(53	)
Loss on derivative contracts			(4,718	)			—				—				—				(4,718	)
Foreign exchange gain (loss)			(3,201	)			5,129				(1,155	)			—				773
Lucky Friday suspension-related costs			—				(3,722	)			—				—				(3,722	)
Acquisition costs			(100	)			(83	)			—				—				(183	)
Equity in earnings of subsidiaries			(6,761	)			—				—				6,761				—
Other (expense) income			(2,359	)			(9,930	)			1,606				(3,757	)			(14,440	)
Income (loss) before income taxes			(19,516	)			(5,884	)			1,266				3,004				(21,130	)
(Provision) benefit from income taxes			—				(625	)			(1,518	)			3,757				1,614
Net income (loss)			(19,516	)			(6,509	)			(252	)			6,761				(19,516	)
Preferred stock dividends			(138	)			—				—				—				(138	)
Income (loss) applicable to common shareholders			(19,654	)			(6,509	)			(252	)			6,761				(19,654	)
Net income (loss)			(19,516	)			(6,509	)			(252	)			6,761				(19,516	)
Changes in comprehensive income (loss)			(3,288	)			—				—				—				(3,288	)
Comprehensive income (loss)		$	(22,804	)		$	(6,509	)		$	(252	)		$	6,761			$	(22,804	)

		Nine Months Ended September 30, 2019
		Parent				Guarantors				Non-Guarantors				Eliminations				Consolidated
		(in thousands)
Revenues		$	(136	)		$	409,339			$	39,118			$	—			$	448,321
Cost of sales			(1,190	)			(280,397	)			(29,615	)			—				(311,202	)
Depreciation, depletion, amortization			—				(132,104	)			(6,934	)			—				(139,038	)
General and administrative			(12,110	)			(13,571	)			(1,174	)			—				(26,855	)
Exploration and pre-development			(22	)			(10,645	)			(5,424	)			—				(16,091	)
Research and development			—				(521	)			(93	)			—				(614	)
Loss on derivative contracts			(2,719	)			—				—				—				(2,719	)
Foreign exchange gain (loss)			7,820				(14,636	)			75				—				(6,741	)
Lucky Friday suspension-related costs			—				(8,766	)			—				—				(8,766	)
Acquisition costs			(221	)			(219	)			(153	)			—				(593	)
Equity in earnings of subsidiaries			(77,563	)			—				—				77,563				—
Other (expense) income			(5,438	)			(31,573	)			2,308				(12,589	)			(47,292	)
Income (loss) before income taxes			(91,579	)			(83,093	)			(1,892	)			64,974				(111,590	)
(Provision) benefit from income taxes			(2	)			6,864				558				12,589				20,009
Net income (loss)			(91,581	)			(76,229	)			(1,334	)			77,563				(91,581	)
Preferred stock dividends			(414	)			—				—				—				(414	)
Income (loss) applicable to common shareholders			(91,995	)			(76,229	)			(1,334	)			77,563				(91,995	)
Net income (loss)			(91,581	)			(76,229	)			(1,334	)			77,563				(91,581	)
Changes in comprehensive income (loss)			4,511				—				—				—				4,511
Comprehensive income (loss)		$	(87,070	)		$	(76,229	)		$	(1,334	)		$	77,563			$	(87,070	)

		Three Months Ended September 30, 2018
		Parent				Guarantors				Non-Guarantors				Eliminations				Consolidated
						Revised				Revised
		(in thousands)
Revenues		$	5,020			$	124,497			$	14,132			$	—			$	143,649
Cost of sales			(157	)			(80,876	)			(12,576	)			—				(93,609	)
Depreciation, depletion, amortization			—				(41,669	)			(1,795	)			—				(43,464	)
General and administrative			(4,802	)			(5,082	)			(443	)			—				(10,327	)
Exploration and pre-development			(1	)			(11,227	)			(2,378	)			—				(13,606	)
Research and development			—				(732	)			(537	)			—				(1,269	)
Gain on derivative contracts			19,460				—				—				—				19,460
Foreign exchange gain (loss)			4,640				(7,629	)			777				—				(2,212	)
Lucky Friday suspension costs			—				(6,519	)			—				—				(6,519	)
Acquisition costs			(5,741	)			(386	)			(12	)			—				(6,139	)
Equity in earnings of subsidiaries			(54,618	)			—				—				54,618				—
Other expense			13,016				(4,756	)			(262	)			(19,825	)			(11,827	)
Income (loss) before income taxes			(23,183	)			(34,379	)			(3,094	)			34,793				(25,863	)
(Provision) benefit from income taxes			(1	)			(17,530	)			385				19,825				2,679
Net income (loss)			(23,184	)			(51,909	)			(2,709	)			54,618				(23,184	)
Preferred stock dividends			(138	)			—				—				—				(138	)
Income (loss) applicable to common shareholders			(23,322	)			(51,909	)			(2,709	)			54,618				(23,322	)
Net income (loss)			(23,184	)			(51,909	)			(2,709	)			54,618				(23,184	)
Changes in comprehensive income (loss)			3,746				—				—				—				3,746
Comprehensive income (loss)		$	(19,438	)		$	(51,909	)		$	(2,709	)		$	54,618			$	(19,438	)

		Nine Months Ended September 30, 2018
		Parent				Guarantors				Non-Guarantors				Eliminations				Consolidated
						Revised				Revised
		(in thousands)
Revenues		$	8,332			$	381,556			$	40,729			$	—			$	430,617
Cost of sales			245				(219,497	)			(27,666	)			—				(246,918	)
Depreciation, depletion, amortization			—				(99,749	)			(3,586	)			—				(103,335	)
General and administrative			(13,250	)			(13,247	)			(1,352	)			—				(27,849	)
Exploration and pre-development			(128	)			(22,571	)			(8,525	)			—				(31,224	)
Research and development			—				(3,702	)			(1,340	)			—				(5,042	)
Gain/(loss) on derivative contracts			40,271				—				—				—				40,271
Foreign exchange gain (loss)			(9,795	)			12,230				421				—				2,856
Lucky Friday suspension costs			—				(18,337	)			—				—				(18,337	)
Acquisition costs			(9,041	)			(454	)			(161	)			—				(9,656	)
Equity in earnings of subsidiaries			(31,105	)			—				—				31,105				—
Other (expense) income			11,602				(19,034	)			722				(29,027	)			(35,737	)
Income (loss) before income taxes			(2,869	)			(2,805	)			(758	)			2,078				(4,354	)
(Provision) benefit from income taxes			(1	)			(26,348	)			(1,194	)			29,027				1,484
Net income (loss)			(2,870	)			(29,153	)			(1,952	)			31,105				(2,870	)
Preferred stock dividends			(414	)			—				—				—				(414	)
Income (loss) applicable to common shareholders			(3,284	)			(29,153	)			(1,952	)			31,105				(3,284	)
Net income (loss)			(2,870	)			(29,153	)			(1,952	)			31,105				(2,870	)
Changes in comprehensive income (loss)			(3,520	)			38				—				(38	)			(3,520	)
Comprehensive income (loss)		$	(6,390	)		$	(29,115	)		$	(1,952	)		$	31,067			$	(6,390	)

Condensed Cash Flow Statement [Table Text Block]

		Nine Months Ended September 30, 2019
		Parent				Guarantors				Non-Guarantors				Eliminations				Consolidated
		(in thousands)
Cash flows from operating activities		$	(140,110	)		$	92,042			$	(15,242	)		$	126,919			$	63,609
Cash flows from investing activities:
Additions to properties, plants, equipment and mineral interests			—				(56,329	)			(41,009	)			—				(97,338	)
Other investing activities, net			72,128				42				1,415				(72,128	)			1,457
Cash flows from financing activities:
Dividends paid to shareholders			(4,070	)			—				—				—				(4,070	)
Borrowings on debt			245,000				—				—				—				245,000
Payments on debt			(195,000	)			(4,965	)			(519	)			—				(200,484	)
Other financing activity, net			34,769				(38,672	)			55,869				(54,791	)			(2,825	)
Effect of exchange rates on cash			—				257				—				—				257
Changes in cash, cash equivalents and restricted cash and cash equivalents			12,717				(7,625	)			514				—				5,606
Beginning cash, cash equivalents and restricted cash and cash equivalents			6,266				18,258				3,890				—				28,414
Ending cash, cash equivalents and restricted cash and cash equivalents		$	18,983			$	10,633			$	4,404			$	—			$	34,020

		Nine Months Ended September 30, 2018
		Parent				Guarantors				Non-Guarantors				Eliminations				Consolidated
						Revised				Revised
		(in thousands)
Cash flows from operating activities		$	(29,868	)		$	88,853			$	(40,161	)		$	56,386			$	75,210
Cash flows from investing activities:
Additions to properties, plants, equipment and mineral interests			20,710				(101,147	)			(2,848	)			—				(83,285	)
Acquisitions of other companies, net of cash acquired			(139,326	)							—				—				(139,326	)
Other investing activities, net			(398,101	)			4,309				—				431,815				38,023
Cash flows from financing activities:
Dividends paid to shareholders			(3,607	)			—				—				—				(3,607	)
Borrowings on debt			78,024				—				—				—				78,024
Payments on debt			(47,000	)			(41,028	)			—				—				(88,028	)
Other financing activity, net			443,372				26,051				16,709				(488,201	)			(2,069	)
Effect of exchange rates on cash			—				(215	)							—				(215	)
Changes in cash, cash equivalents and restricted cash and cash equivalents			(75,796	)			(23,177	)			(26,300	)			—				(125,273	)
Beginning cash, cash equivalents and restricted cash and cash equivalents			103,877				46,619				36,643				—				187,139
Ending cash, cash equivalents and restricted cash and cash equivalents		$	28,081			$	23,442			$	10,343			$	—			$	61,866