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Note 3 - Business Segments and Sales of Products | 9 Months Ended
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Sep. 30, 2021
Notes to Financial Statements |
Segment Reporting Disclosure [Text Block] | Note 3. Business Segments and Sales of Products We discover, acquire and develop mines and other mineral interests and produce and market concentrates, carbon material and doré which contain silver, gold, lead and zinc. We are currently organized and managed in five segments, which represent our operating units: the Greens Creek unit, the Lucky Friday unit, the Casa Berardi unit, the San Sebastian exploration unit, and the Nevada Operations 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 and mining taxes are considered general corporate items, and are not allocated to our segments. The following tables present information about our reportable segments for the three and nine months ended September 30, 2021 and 2020 (in thousands):
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Net sales to unaffiliated customers: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Greens Creek |  | $ | 84,806 |  |  | $ | 93,494 |  |  | $ | 296,978 |  |  | $ | 232,218 |
Lucky Friday |  |  | 29,783 |  |  |  | 20,812 |  |  |  | 98,550 |  |  |  | 35,097 |
Casa Berardi |  |  | 56,065 |  |  |  | 53,554 |  |  |  | 185,098 |  |  |  | 149,731 |
San Sebastian |  |  | — |  |  |  | 9,138 |  |  |  | 176 |  |  |  | 23,998 |
Nevada Operations |  |  | 22,906 |  |  |  | 22,705 |  |  |  | 41,593 |  |  |  | 61,939 |
|  | $ | 193,560 |  |  | $ | 199,703 |  |  | $ | 622,395 |  |  | $ | 502,983 |
Income (loss) from operations: |  |  |  |  |  |  | Revised |  |  |  |  |  |  |  | Revised |
Greens Creek |  | $ | 26,572 |  |  | $ | 44,477 |  |  | $ | 127,605 |  |  | $ | 76,762 |
Lucky Friday |  |  | 6,187 |  |  |  | 950 |  |  |  | 24,247 |  |  |  | (12,388 | )
Casa Berardi |  |  | (6,233 | ) |  |  | 1,419 |  |  |  | 4,944 |  |  |  | 5,330 |
San Sebastian |  |  | (1,727 | ) |  |  | 1,946 |  |  |  | (4,951 | ) |  |  | 1,766 |
Nevada Operations |  |  | (12,077 | ) |  |  | 5,486 |  |  |  | (35,558 | ) |  |  | 6,830 |
Other |  |  | (21,294 | ) |  |  | (17,763 | ) |  |  | (54,688 | ) |  |  | (40,249 | )
|  | $ | (8,572 | ) |  | $ | 36,515 |  |  | $ | 61,599 |  |  | $ | 38,051 |
The following table presents identifiable assets by reportable segment as of September 30, 2021 and December 31, 2020 (in thousands):
|  | September 30, 2021 |  |  | December 31, 2020 |
Identifiable assets: |  |  |  |  |  |  | Revised |
Greens Creek |  | $ | 607,207 |  |  | $ | 610,360 |
Lucky Friday |  |  | 512,742 |  |  |  | 520,463 |
Casa Berardi |  |  | 705,328 |  |  |  | 727,008 |
San Sebastian |  |  | 38,186 |  |  |  | 42,617 |
Nevada Operations |  |  | 477,621 |  |  |  | 513,309 |
Other |  |  | 333,333 |  |  |  | 286,453 |
|  | $ | 2,674,417 |  |  | $ | 2,700,210 |
Sales of products by metal for the three- and nine-month periods ended September 30, 2021 and 2020 were as follows (in thousands):
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Silver |  | $ | 61,890 |  |  | $ | 79,684 |  |  | $ | 232,414 |  |  | $ | 179,013 |
Gold |  |  | 94,984 |  |  |  | 98,457 |  |  |  | 282,471 |  |  |  | 278,363 |
Lead |  |  | 18,082 |  |  |  | 13,370 |  |  |  | 56,198 |  |  |  | 32,244 |
Zinc |  |  | 30,273 |  |  |  | 26,779 |  |  |  | 89,501 |  |  |  | 65,540 |
Less: Smelter and refining charges |  |  | (11,669 | ) |  |  | (18,587 | ) |  |  | (38,189 | ) |  |  | (52,177 | )
Sales of products |  | $ | 193,560 |  |  | $ | 199,703 |  |  | $ | 622,395 |  |  | $ | 502,983 |
Sales of products for the three- and nine-month periods ended September 30, 2021 included net gains of $5.0 million and $4.5 million, respectively, on financially-settled forward contracts for silver, gold, lead and zinc contained in our sales. Sales of products for the three- and nine-month periods ended September 30, 2020 included net losses of $9.6 million and $12.9 million, respectively, on such contracts. See Note 9 for more information.

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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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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