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Note 4 - Business Segments, Sales of Products and Significant Customers (Tables) | 12 Months Ended
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Dec. 31, 2023
Segment Reporting [Abstract] |
Schedule of Information About Reportable Segments | The tables below present information about our reportable segments as of and for the years ended December 31, 2023, 2022 and 2021 (in thousands).
|  | 2023 |  |  | 2022 |  |  | 2021 |
Net sales to unaffiliated customers: |  |  |  |  |  |  |  |  |  |  |  |
Greens Creek |  | $ | 384,504 |  |  | $ | 335,062 |  |  | $ | 384,843 |
Lucky Friday |  |  | 116,284 |  |  |  | 147,814 |  |  |  | 131,488 |
Keno Hill |  |  | 35,518 |  |  |  | — |  |  |  | — |
Casa Berardi |  |  | 177,678 |  |  |  | 235,136 |  |  |  | 245,152 |
Other |  |  | 6,243 |  |  |  | 893 |  |  |  | 45,990 |
Total sales to unaffiliated customers |  | $ | 720,227 |  |  | $ | 718,905 |  |  | $ | 807,473 |
Income (loss) from operations: |  |  |  |  |  |  |  |  |  |  |  |
Greens Creek |  | $ | 113,551 |  |  | $ | 87,297 |  |  | $ | 164,666 |
Lucky Friday |  |  | 4,811 |  |  |  | 27,636 |  |  |  | 31,683 |
Keno Hill |  |  | (35,344 | ) |  |  | (4,249 | ) |  |  | — |
Casa Berardi |  |  | (56,683 | ) |  |  | (21,799 | ) |  |  | 5,807 |
Other |  |  | (71,009 | ) |  |  | (101,323 | ) |  |  | (118,736 | )
Total (loss) income from operations |  | $ | (44,674 | ) |  | $ | (12,438 | ) |  | $ | 83,420 |
Capital additions (excluding non-cash items): |  |  |  |  |  |  |  |  |  |  |  |
Greens Creek |  | $ | 43,542 |  |  | $ | 36,898 |  |  | $ | 23,883 |
Lucky Friday |  |  | 65,337 |  |  |  | 50,992 |  |  |  | 29,885 |
Keno Hill |  |  | 44,672 |  |  |  | 19,725 |  |  |  | — |
Casa Berardi |  |  | 70,056 |  |  |  | 39,667 |  |  |  | 49,617 |
Other |  |  | 280 |  |  |  | 2,096 |  |  |  | 5,663 |
Total capital additions |  | $ | 223,887 |  |  | $ | 149,378 |  |  | $ | 109,048 |
Depreciation, depletion and amortization: |  |  |  |  |  |  |  |  |  |  |  |
Greens Creek |  | $ | 53,995 |  |  | $ | 48,911 |  |  | $ | 48,710 |
Lucky Friday |  |  | 24,325 |  |  |  | 33,704 |  |  |  | 26,846 |
Keno Hill |  |  | 4,277 |  |  |  | — |  |  |  | — |
Casa Berardi |  |  | 66,037 |  |  |  | 60,962 |  |  |  | 80,744 |
Other |  |  | 140 |  |  |  | 361 |  |  |  | 15,493 |
Total depreciation, depletion and amortization |  | $ | 148,774 |  |  | $ | 143,938 |  |  | $ | 171,793 |
Other significant non-cash items: |  |  |  |  |  |  |  |  |  |  |  |
Greens Creek |  | $ | 11,098 |  |  | $ | 2,821 |  |  | $ | 3,653 |
Lucky Friday |  |  | (916 | ) |  |  | 1,138 |  |  |  | 1,048 |
Keno Hill |  |  | 376 |  |  |  | 1,669 |  |  |  | — |
Casa Berardi |  |  | 13,378 |  |  |  | 1,520 |  |  |  | 1,284 |
Other |  |  | 18,994 |  |  |  | 3,568 |  |  |  | (12,290 | )
Total other significant non-cash items |  | $ | 42,930 |  |  | $ | 10,716 |  |  | $ | (6,305 | )
Identifiable assets: |  |  |  |  |  |  |  |  |  |  |  |
Greens Creek |  | $ | 569,369 |  |  | $ | 582,687 |  |  | $ | 589,944 |
Lucky Friday |  |  | 578,110 |  |  |  | 571,510 |  |  |  | 516,545 |
Keno Hill |  |  | 362,986 |  |  |  | 276,096 |  |  |  | — |
Casa Berardi |  |  | 683,035 |  |  |  | 681,631 |  |  |  | 701,868 |
Other |  |  | 817,604 |  |  |  | 815,248 |  |  |  | 920,451 |
Total identifiable assets |  | $ | 3,011,104 |  |  | $ | 2,927,172 |  |  | $ | 2,728,808 |
Schedule of Long-lived Assets by Geographic Area | The following are our long-lived assets by geographic area as of December 31, 2023 and 2022 (in thousands):
|  | 2023 |  |  | 2022 |
United States |  | $ | 1,698,285 |  |  | $ | 1,670,676 |
Canada |  |  | 960,109 |  |  |  | 891,375 |
Mexico |  |  | 7,856 |  |  |  | 7,739 |
Total long-lived assets |  | $ | 2,666,250 |  |  | $ | 2,569,790 |
Schedule of Sales Contributed by Each Segment | Sales of metal concentrates and metal products are made principally to custom smelters, third-party processors and metal traders. The percentage of metal sales contributed by each segment is reflected in the following table:
|  | Year Ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Greens Creek |  |  | 53.7 | % |  |  | 46.6 | % |  |  | 47.6 | %
Lucky Friday |  |  | 16.3 | % |  |  | 20.6 | % |  |  | 16.3 | %
Keno Hill |  |  | 5.0 | % |  |  | — |  |  |  | — |
Casa Berardi |  |  | 24.9 | % |  |  | 32.7 | % |  |  | 30.4 | %
Other |  |  | 0.1 | % |  |  | 0.1 | % |  |  | 5.7 | %
|  |  | 100 | % |  |  | 100 | % |  |  | 100 | %
Schedule of Sales of Products by Metal | Total sales for the years ended December 31, 2023, 2022 and 2021 were as follows (in thousands):
|  | Year Ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Silver |  | $ | 302,284 |  |  | $ | 265,054 |  |  | $ | 293,646 |
Gold |  |  | 274,613 |  |  |  | 298,910 |  |  |  | 362,037 |
Lead |  |  | 72,726 |  |  |  | 83,384 |  |  |  | 75,431 |
Zinc |  |  | 116,230 |  |  |  | 123,057 |  |  |  | 125,292 |
Less: Smelter and refining charges |  |  | (50,909 | ) |  |  | (51,973 | ) |  |  | (48,933 | )
Total metal sales |  |  | 714,944 |  |  |  | 718,432 |  |  |  | 807,473 |
Environmental remediation services |  |  | 5,283 |  |  |  | 473 |  |  |  | — |
Total sales |  | $ | 720,227 |  |  | $ | 718,905 |  |  | $ | 807,473 |
Schedule of Sales Information by Geographic Area | The following is metal sales information by geographic area based on the location of smelters and metal traders (for concentrate shipments) and the location of parent companies (for doré sales to metal traders) for the years ended December 31, 2023, 2022 and 2021 (in thousands):
|  | 2023 |  |  | 2022 |  |  | 2021 |
United States |  | $ | 36,307 |  |  | $ | 21,938 |  |  | $ | 71,278 |
Canada |  |  | 375,092 |  |  |  | 406,600 |  |  |  | 419,090 |
Japan |  |  | 52,744 |  |  |  | 51,375 |  |  |  | 63,588 |
Korea |  |  | 127,590 |  |  |  | 107,828 |  |  |  | 203,115 |
China |  |  | 103,534 |  |  |  | 136,514 |  |  |  | 50,945 |
Total, excluding gains/losses on forward contracts |  | $ | 695,267 |  |  | $ | 724,255 |  |  | $ | 808,016 |
Metal sales by significant product type for the years ended December 31, 2023, 2022 and 2021 were as follows (in thousands):
|  | Year Ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Doré and metals from doré |  | $ | 211,321 |  |  | $ | 255,608 |  |  | $ | 313,337 |
Carbon |  |  | 4,333 |  |  |  | 2,607 |  |  |  | 4,117 |
Silver concentrate |  |  | 356,941 |  |  |  | 329,165 |  |  |  | 345,732 |
Zinc concentrate |  |  | 80,274 |  |  |  | 109,177 |  |  |  | 112,448 |
Precious metals concentrate |  |  | 42,398 |  |  |  | 27,698 |  |  |  | 32,382 |
Total, excluding gains/losses on forward contracts |  | $ | 695,267 |  |  | $ | 724,255 |  |  | $ | 808,016 |
Schedule of Sales from Continuing Operations to Significant Metals Customers | Metal sales from continuing operations to significant metals customers as a percentage of total sales were as follows for the years ended December 31, 2023, 2022 and 2021:
|  | Year Ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Customer A |  |  | 24.2 | % |  |  | 35.4 | % |  |  | 37.2 | %
Customer B |  |  | 11.8 | % |  |  | 23.9 | % |  |  | 21.5 | %
Customer C |  |  | 15.5 | % |  |  | 11.3 | % |  |  | 21.6 | %
Customer D |  |  | 15.8 | % |  |  | 3.5 | % |  |  | 6.2 | %
Summary of Trade Accounts Receivable | Trade accounts receivable balances with significant metals customers as of December 31, 2023 and 2022 were as follows.
|  | 2023 |  |  | 2022 |
Customer B |  |  | 22.2 | % |  |  | 57.5 | %
Customer D |  |  | 34.8 | % |  |  | — |
Customer E |  |  | 24.2 | % |  |  | 3.2 | %
Customer F |  |  | — |  |  |  | 15.9 | %
Customer G |  |  | — |  |  |  | 11.8 | %

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