XML 226 R31.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Note 7 - Income and Mining Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Income Tax Disclosure [Abstract] |
Schedule of Components of Income and Mining Tax Benefit (Provision) | Major components of our income and mining tax benefit (provision) for the years ended December 31, 2023, 2022 and 2021 are as follows (in thousands):
|  | 2023 |  |  | 2022 |  |  | 2021 |
Current: |  |  |  |  |  |  |  |  |
Domestic |  | $ | (3,846 | ) |  | $ | (3,915 | ) |  | $ | (7,073 | )
Foreign |  |  | (3,322 | ) |  |  | (5,119 | ) |  |  | (6,316 | )
Total current income and mining tax provision |  |  | (7,168 | ) |  |  | (9,034 | ) |  |  | (13,389 | )
Deferred: |  |  |  |  |  |  |  |  |
Domestic |  |  | (17,058 | ) |  |  | 2,064 |  |  |  | 43,708 |
Foreign |  |  | 23,004 |  |  |  | 14,536 |  |  |  | (750 | )
Total deferred income and mining tax benefit |  |  | 5,946 |  |  |  | 16,600 |  |  |  | 42,958 |
Total income and mining tax (provision) benefit |  | $ | (1,222 | ) |  | $ | 7,566 |  |  | $ | 29,569 |
Schedule of Domestic and Foreign Components of Income (Loss) Before Income and Mining Taxes | Domestic and foreign components of income (loss) before income and mining taxes for the years ended December 31, 2023, 2022 and 2021 are as follows (in thousands):
|  | 2023 |  |  | 2022 |  |  | 2021 |
Domestic |  | $ | 43,745 |  |  | $ | (6,343 | ) |  | $ | 38,003 |
Foreign |  |  | (126,740 | ) |  |  | (38,571 | ) |  |  | (32,477 | )
Total |  | $ | (82,995 | ) |  | $ | (44,914 | ) |  | $ | 5,526 |
Schedule of Effective Income Tax Reconciliation | The annual tax benefit (provision) is different from the amount that would be provided by applying the statutory federal income tax rate to our pretax income (loss). The reasons for the difference are (in thousands):
|  | 2023 |  |  | 2022 |  |  | 2021 |
Computed “statutory” benefit (provision) |  | $ | 17,429 |  |  |  | 21 | % |  | $ | 9,432 |  |  |  | 21 | % |  | $ | (1,161 | ) |  |  | 21 | %
Percentage depletion |  |  | 4,205 |  |  |  | 5 |  |  |  | 8,542 |  |  |  | 19 |  |  |  | 8,076 |  |  |  | (146 | )
Change in valuation allowance |  |  | (20,016 | ) |  |  | (24 | ) |  |  | (8,113 | ) |  |  | (18 | ) |  |  | 38,058 |  |  |  | (689 | )
State taxes, net of federal tax benefit |  |  | (2,731 | ) |  |  | (3 | ) |  |  | (158 | ) |  |  | — |  |  |  | 965 |  |  |  | (17 | )
Foreign currency remeasurement of monetary assets and liabilities |  |  | (4,155 | ) |  |  | (5 | ) |  |  | 4,559 |  |  |  | 10 |  |  |  | (3,625 | ) |  |  | 66 |
Rate differential on foreign earnings |  |  | 6,553 |  |  |  | 8 |  |  |  | 1,515 |  |  |  | 3 |  |  |  | 2,445 |  |  |  | (44 | )
Compensation |  |  | (1,636 | ) |  |  | (2 | ) |  |  | 173 |  |  |  | 0 |  |  |  | 1,094 |  |  |  | (20 | )
Mining and other taxes |  |  | (1,359 | ) |  |  | (2 | ) |  |  | (6,609 | ) |  |  | (15 | ) |  |  | (13,799 | ) |  |  | 250 |
Other |  |  | 488 |  |  |  | 1 |  |  |  | (1,775 | ) |  |  | (3 | ) |  |  | (2,484 | ) |  |  | 45 |
Total (provision) benefit |  | $ | (1,222 | ) |  |  | (1 | )% |  | $ | 7,566 |  |  |  | 17 | % |  | $ | 29,569 |  |  |  | (535 | )%
Schedule of Components of Net Deferred Tax Assets and Liabilities | The individual components of our net deferred tax assets and liabilities are reflected in the table below (in thousands).
|  | December 31, |
|  | 2023 |  |  | 2022 |
Deferred tax assets: |  |  |  |  |  |
Accrued reclamation costs |  | $ | 33,451 |  |  | $ | 33,007 |
Deferred exploration |  |  | 22,341 |  |  |  | 22,584 |
Foreign net operating losses |  |  | 52,091 |  |  |  | 71,391 |
Domestic net operating losses |  |  | 214,137 |  |  |  | 211,381 |
Foreign exchange loss |  |  | 22,247 |  |  |  | 24,235 |
Foreign tax credit carryforward |  |  | 2,026 |  |  |  | 2,493 |
Miscellaneous |  |  | 35,060 |  |  |  | 39,628 |
Total deferred tax assets |  |  | 381,353 |  |  |  | 404,719 |
Valuation allowance |  |  | (100,910 | ) |  |  | (72,856 | )
Total deferred tax assets |  |  | 280,443 |  |  |  | 331,863 |
Deferred tax liabilities: |  |  |  |  |  |
Miscellaneous |  |  | (12,950 | ) |  |  | (9,020 | )
Properties, plants and equipment |  |  | (369,445 | ) |  |  | (427,584 | )
Total deferred tax liabilities |  |  | (382,395 | ) |  |  | (436,604 | )
Net deferred tax liability |  | $ | (101,952 | ) |  | $ | (104,741 | )
Schedule of Changes in Valuation Allowance | The changes in the valuation allowance for the years ended December 31, 2023, 2022 and 2021, are as follows (in thousands):
|  | 2023 |  |  | 2022 |  |  | 2021 |
Balance at beginning of year |  | $ | (72,856 | ) |  | $ | (39,152 | ) |  | $ | (77,210 | )
Valuation allowance on deferred tax assets acquired with the ATAC (2023) and Alexco (2022) acquisitions |  |  | (8,077 | ) |  |  | (25,591 | ) |  |  | — |
Increase related to non-recognition of deferred tax assets due to uncertainty of recovery and increase related to non-utilization of net operating loss carryforwards |  |  | (21,114 | ) |  |  | (13,256 | ) |  |  | (20,304 | )
Decrease related to either or a combination of (i) utilization, (ii) release due to future benefit, and (iii) expiration of deferred tax assets as applicable |  |  | 1,137 |  |  |  | 5,143 |  |  |  | 58,362 |
Balance at end of year |  | $ | (100,910 | ) |  | $ | (72,856 | ) |  | $ | (39,152 | )

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 9 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-9 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-2 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 12 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-12 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(1)(Note 1)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1 + Details
Name: | us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of unrecognized tax benefits for which a material change is reasonably possible in the next twelve months, typically including the nature of the uncertainty, the event(s) that could cause a material change, and an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made. An unrecognized tax benefit is the difference between a tax position taken in a tax return and the amounts recognized in the financial statements for which it is more likely than not, based on the technical merits of the position, that the tax position will not be sustained upon examination. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-15 + Details
Name: | us-gaap_SummaryOfPositionsForWhichSignificantChangeInUnrecognizedTaxBenefitsIsReasonablyPossibleTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration