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INCOME AND MINING TAXES (Tables) | 12 Months Ended
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Dec. 31, 2021
Income Tax Disclosure [Abstract] |
Schedule of Income before Income Tax, Domestic and Foreign | The following tables represent the major components of Income before taxes and Income and mining tax benefit (expense) recognized in the Consolidated Statements of Operations (in thousands):
|  | Years ended December 31,
|  | 2021 |  | 2020 |  | 2019
Income before income and mining taxes components: |  |  |  |  |  |  |  |  |
United States |  | $ | 138,230 |  |  | $ | 119,654 |  |  | $ | 61,198 |
Canada |  |  | 26,752 |  |  |  | 26,207 |  |  |  | 71,537 |
Turkey |  |  | 186,971 |  |  |  | 41,385 |  |  |  | — |
Other Foreign |  |  | 62,805 |  |  |  | 14,545 |  |  |  | 3,922 |
Total income before incomes taxes |  | $ | 414,758 |  |  | $ | 201,791 |  |  | $ | 136,657 |
| Years Ended December 31,
| 2021 |  | 2020 |  | 2019
Current income tax provision: |  |  |  |  |  |  |  |
United States | $ | 15,603 |  |  | $ | 13,945 |  |  | $ | 6,003 |
Canada |  | 27,672 |  |  |  | 5,720 |  |  |  | 18,367 |
Turkey |  | 49,851 |  |  |  | 1,805 |  |  |  | — |
Other Foreign |  | 23,328 |  |  |  | 1,074 |  |  |  | 426 |
Total current income tax provision |  | 116,454 |  |  |  | 22,544 |  |  |  | 24,796 |
Deferred income tax provision (benefit): |  |  |  |  |  |  |  |
United States |  | 13,288 |  |  |  | 8,265 |  |  |  | 7,145 |
Canada |  | (230) |  |  |  | 765 |  |  |  | 520 |
Turkey |  | (131,456) |  |  |  | 19,205 |  |  |  | — |
Other foreign |  | (12,172) |  |  |  | (7,576) |  |  |  | 2,978 |
Total deferred income tax provision (benefit) |  | (130,570) |  |  |  | 20,659 |  |  |  | 10,643 |
Total income tax provision (benefit) | $ | (14,116) |  |  | $ | 43,203 |  |  | $ | 35,439 |
Schedule of Components of Income Tax Expense (Benefit) | The following tables represent the major components of Income before taxes and Income and mining tax benefit (expense) recognized in the Consolidated Statements of Operations (in thousands):
|  | Years ended December 31,
|  | 2021 |  | 2020 |  | 2019
Income before income and mining taxes components: |  |  |  |  |  |  |  |  |
United States |  | $ | 138,230 |  |  | $ | 119,654 |  |  | $ | 61,198 |
Canada |  |  | 26,752 |  |  |  | 26,207 |  |  |  | 71,537 |
Turkey |  |  | 186,971 |  |  |  | 41,385 |  |  |  | — |
Other Foreign |  |  | 62,805 |  |  |  | 14,545 |  |  |  | 3,922 |
Total income before incomes taxes |  | $ | 414,758 |  |  | $ | 201,791 |  |  | $ | 136,657 |
| Years Ended December 31,
| 2021 |  | 2020 |  | 2019
Current income tax provision: |  |  |  |  |  |  |  |
United States | $ | 15,603 |  |  | $ | 13,945 |  |  | $ | 6,003 |
Canada |  | 27,672 |  |  |  | 5,720 |  |  |  | 18,367 |
Turkey |  | 49,851 |  |  |  | 1,805 |  |  |  | — |
Other Foreign |  | 23,328 |  |  |  | 1,074 |  |  |  | 426 |
Total current income tax provision |  | 116,454 |  |  |  | 22,544 |  |  |  | 24,796 |
Deferred income tax provision (benefit): |  |  |  |  |  |  |  |
United States |  | 13,288 |  |  |  | 8,265 |  |  |  | 7,145 |
Canada |  | (230) |  |  |  | 765 |  |  |  | 520 |
Turkey |  | (131,456) |  |  |  | 19,205 |  |  |  | — |
Other foreign |  | (12,172) |  |  |  | (7,576) |  |  |  | 2,978 |
Total deferred income tax provision (benefit) |  | (130,570) |  |  |  | 20,659 |  |  |  | 10,643 |
Total income tax provision (benefit) | $ | (14,116) |  |  | $ | 43,203 |  |  | $ | 35,439 |
Schedule of Effective Income Tax Rate Reconciliation | The reasons for the differences are as follows (in thousands):
|  | Years Ended December 31,
|  | 2021 |  | 2020 |  | 2019
Income before income and mining taxes |  | $ | 414,758 |  | $ | 201,791 |  | $ | 136,657
Statutory tax rate |  |  | 27 | % |  |  | 27 | % |  |  | 27 | %
Expected income and mining tax expense |  |  | 111,985 |  |  | 54,484 |  |  | 36,897
Increase (decrease) attributable to: |  |  |  |  |  |  |  |  |
Non-taxable items |  |  | (4,379) |  |  | (22,236) |  |  | (7,518)
Foreign exchange and inflation |  |  | (124,946) |  |  | (676) |  |  | 1,650
Differences in foreign and future tax rates |  |  | 738 |  |  | (10,641) |  |  | (8,699)
Investment incentive tax credits |  |  | (14,082) |  |  | 1,983 |  |  | —
Mining taxes and overseas withholding tax |  |  | 17,528 |  |  | 17,006 |  |  | 10,207
Expired losses |  |  | 1,455 |  |  | 1,129 |  |  | 738
Change in estimates in respect of prior years |  |  | (2,046) |  |  | (1,616) |  |  | (2,316)
Changes in recognition of deferred tax assets |  |  | 1,086 |  |  | 3,550 |  |  | 4,074
Other |  |  | (1,455) |  |  | 220 |  |  | 406
Total income and mining tax expense |  | $ | (14,116) |  | $ | 43,203 |  | $ | 35,439
Schedule of Deferred Tax Assets and Liabilities | The significant components of Deferred income tax assets and Deferred income tax liabilities were (in thousands):
| December 31,
| 2021 |  | 2020
Deferred income tax assets |  |  |  |  |
Deductible temporary differences relating to: |  |  |  |  |
Marketable securities | $ | 634 |  |  | $ | — |
Inventories |  | — |  |  |  | 3,245
Reclamation liabilities |  | 27,608 |  |  | 20,117
Lease liabilities |  | 23,895 |  |  | 24,307
Deductibility of other taxes |  | 9,299 |  |  | 10,770
S tock-based compensation |  | 7,247 |  |  | 11,410
Other items |  | 16,595 |  |  | 7,873
|  | 85,278 |  |  | 77,722
Investment incentive tax credits (1) |  | 46,354 |  |  |  | 168,447 |
Tax loss carryforwards |  | 25,395 |  |  |  | 22,597 |
Less: Valuation allowance |  | (38,496) |  |  |  | (37,410) |
Total deferred income tax assets | $ | 118,531 |  |  | $ | 231,356 |
Deferred income tax liabilities |  |  |  |  |
Taxable temporary differences relating to: |  |  |  |  |
Marketable securities | $ | (270) |  |  | $ | (2,041) |
Inventories |  | (17,768) |  |  |  | (47,484) |
Mineral properties, plant and equipment |  | (365,793) |  |  |  | (566,922) |
Convertible notes |  | (359) |  |  |  | (414) |
Mineral tax |  | (38,452) |  |  |  | (39,575) |
Foreign withholding tax |  | (17,080) |  |  |  | (32,875) |
Other items |  | (9,096) |  |  |  | — |
Total deferred income tax liabilities | $ | (448,818) |  |  | $ | (689,311) |
Balance sheet presentation |  |  |  |  |
Deferred income tax assets | $ | 8,501 |  |  | $ | 15,072 |
Deferred income tax liabilities |  | (338,788) |  |  |  | (473,027) |
Deferred income tax liabilities, net | $ | (330,287) |  |  | $ | (457,955) |
(1)The Company receives investment incentive tax credits for qualifying capital expenditures at Çöpler. The application of these tax credits, which are denominated in Turkish Lira, reduced income and mining tax expense and cash tax payments for the year ended December 31, 2021 and are expected to offset future cash tax payments. Reviews of eligible expenditures for tax credits by local tax authorities occur periodically and can result in adjustments to the recognition of investment incentive tax credits.
Summary of Operating Loss Carryforwards | As of December 31, 2021, the Company had the following estimated tax operating losses available to reduce future taxable income, including both losses for which deferred tax assets are utilized to offset applicable deferred tax liabilities and losses for which deferred tax assets are not recognized as listed in the table above. Losses expire at various dates and amounts between 2022 and 2041. There were no operating losses generated in Turkey.
| December 31, 2021 |  | Expiration Year
Mexico | $ | 34,695 |  |  | 2022 - 2031
Canada | $ | 42,632 |  |  | 2040 - 2041
U.S.A. | $ | 7,797 |  |  | Indefinite
Argentina | $ | 5,146 |  |  | 2026

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