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INCOME AND MINING TAXES (Tables) | 12 Months Ended
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Dec. 31, 2022
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,
| 2022 |  | 2021 |  | 2020
Income before income and mining taxes components: |  |  |  |  |  |  |  |
United States | $ | 75,762 |  |  | $ | 138,230 |  |  | $ | 119,654 |
Canada |  | (21,831) |  |  |  | 26,752 |  |  |  | 26,207 |
Türkiye |  | 108,373 |  |  |  | 186,971 |  |  |  | 41,385 |
Other Foreign |  | 78,531 |  |  |  | 62,805 |  |  |  | 14,545 |
Total income before incomes taxes | $ | 240,835 |  |  | $ | 414,758 |  |  | $ | 201,791 |
| Years Ended December 31,
| 2022 |  | 2021 |  | 2020
Current income tax provision: |  |  |  |  |  |  |  |
United States | $ | 15,149 |  |  | $ | 15,603 |  |  | $ | 13,945 |
Canada |  | 33,408 |  |  |  | 27,672 |  |  |  | 5,720 |
Türkiye |  | 23,515 |  |  |  | 49,851 |  |  |  | 1,805 |
Other Foreign |  | 25,928 |  |  |  | 23,328 |  |  |  | 1,074 |
Total current income tax provision |  | 98,000 |  |  |  | 116,454 |  |  |  | 22,544 |
Deferred income tax provision (benefit): |  |  |  |  |  |  |  |
United States |  | 7,092 |  |  |  | 13,288 |  |  |  | 8,265 |
Canada |  | (4,183) |  |  |  | (230) |  |  |  | 765 |
Türkiye |  | (57,227) |  |  |  | (131,456) |  |  |  | 19,205 |
Other foreign |  | (13,614) |  |  |  | (12,172) |  |  |  | (7,576) |
Total deferred income tax provision (benefit) |  | (67,932) |  |  |  | (130,570) |  |  |  | 20,659 |
Total income tax provision (benefit) | $ | 30,068 |  |  | $ | (14,116) |  |  | $ | 43,203 |
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,
| 2022 |  | 2021 |  | 2020
Income before income and mining taxes components: |  |  |  |  |  |  |  |
United States | $ | 75,762 |  |  | $ | 138,230 |  |  | $ | 119,654 |
Canada |  | (21,831) |  |  |  | 26,752 |  |  |  | 26,207 |
Türkiye |  | 108,373 |  |  |  | 186,971 |  |  |  | 41,385 |
Other Foreign |  | 78,531 |  |  |  | 62,805 |  |  |  | 14,545 |
Total income before incomes taxes | $ | 240,835 |  |  | $ | 414,758 |  |  | $ | 201,791 |
| Years Ended December 31,
| 2022 |  | 2021 |  | 2020
Current income tax provision: |  |  |  |  |  |  |  |
United States | $ | 15,149 |  |  | $ | 15,603 |  |  | $ | 13,945 |
Canada |  | 33,408 |  |  |  | 27,672 |  |  |  | 5,720 |
Türkiye |  | 23,515 |  |  |  | 49,851 |  |  |  | 1,805 |
Other Foreign |  | 25,928 |  |  |  | 23,328 |  |  |  | 1,074 |
Total current income tax provision |  | 98,000 |  |  |  | 116,454 |  |  |  | 22,544 |
Deferred income tax provision (benefit): |  |  |  |  |  |  |  |
United States |  | 7,092 |  |  |  | 13,288 |  |  |  | 8,265 |
Canada |  | (4,183) |  |  |  | (230) |  |  |  | 765 |
Türkiye |  | (57,227) |  |  |  | (131,456) |  |  |  | 19,205 |
Other foreign |  | (13,614) |  |  |  | (12,172) |  |  |  | (7,576) |
Total deferred income tax provision (benefit) |  | (67,932) |  |  |  | (130,570) |  |  |  | 20,659 |
Total income tax provision (benefit) | $ | 30,068 |  |  | $ | (14,116) |  |  | $ | 43,203 |
Schedule of Effective Income Tax Rate Reconciliation | The reasons for the differences are as follows (in thousands):
|  | Years Ended December 31,
|  | 2022 |  | 2021 |  | 2020
Income before income and mining taxes |  | $ | 240,835 |  | $ | 414,758 |  | $ | 201,791
Statutory tax rate |  |  | 27 | % |  |  | 27 | % |  |  | 27 | %
Expected income and mining tax expense |  |  | 65,025 |  |  | 111,985 |  |  | 54,484
Increase (decrease) attributable to: |  |  |  |  |  |  |  |  |
Non-taxable items |  |  | (11,358) |  |  | (4,379) |  |  | (22,236)
Foreign exchange and inflation |  |  | (20,531) |  |  | (124,946) |  |  | (676)
Differences in foreign and future tax rates |  |  | (13,248) |  |  | 738 |  |  | (10,641)
Investment incentive tax credits |  |  | (10,126) |  |  | (14,082) |  |  | 1,983
Mining taxes and overseas withholding tax |  |  | 38,251 |  |  | 17,528 |  |  | 17,006
Impact of gain on acquisition of Kartaltepe |  |  | (18,826) |  |  | — |  |  | —
Change in estimates in respect of prior years |  |  | (3,630) |  |  | (2,046) |  |  | (1,616)
Changes in recognition of deferred tax assets |  |  | 2,602 |  |  | 1,086 |  |  | 3,550
Other |  |  | 1,909 |  |  | — |  |  | 1,349
Total income and mining tax expense |  | $ | 30,068 |  | $ | (14,116) |  | $ | 43,203
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,
| 2022 |  | 2021
Deferred income tax assets |  |  |  |  |
Deductible temporary differences relating to: |  |  |  |  |
Marketable securities | $ | 2,397 |  |  | $ | 634 |
Reclamation liabilities |  | 31,080 |  |  |  | 27,608 |
Lease liabilities |  | 28,730 |  |  |  | 23,895 |
Deductibility of other taxes |  | 10,224 |  |  |  | 9,299 |
Stock-based compensation |  | 2,931 |  |  |  | 7,247 |
Other items |  | 13,286 |  |  |  | 16,595 |
|  | 88,648 |  |  |  | 85,278 |
Investment incentive tax credits (1) |  | 18,772 |  |  |  | 46,354 |
Tax loss carryforwards |  | 43,384 |  |  |  | 25,395 |
Less: Valuation allowance |  | (61,101) |  |  |  | (38,496) |
Total deferred income tax assets | $ | 89,703 |  |  | $ | 118,531 |
Deferred income tax liabilities |  |  |  |  |
Taxable temporary differences relating to: |  |  |  |  |
Marketable securities | $ | — |  |  | $ | (270) |
Inventories |  | (49,004) |  |  |  | (17,768) |
Mineral properties, plant and equipment |  | (332,886) |  |  |  | (365,793) |
Convertible notes |  | (95) |  |  |  | (359) |
Mineral tax |  | (41,803) |  |  |  | (38,452) |
Foreign withholding tax |  | — |  |  |  | (17,080) |
Other items |  | (6,401) |  |  |  | (9,096) |
Total deferred income tax liabilities | $ | (430,189) |  |  | $ | (448,818) |
Balance sheet presentation |  |  |  |  |
Deferred income tax assets | $ | 1,915 |  |  | $ | 8,501 |
Deferred income tax liabilities |  | (342,401) |  |  |  | (338,788) |
Deferred income tax liabilities, net | $ | (340,486) |  |  | $ | (330,287) |
(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, 2022 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, 2022, the Company had the following estimated tax operating and capital losses (in thousands) 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 have a valuation allowance against. Losses expire at various dates and amounts between 2023 and 2042.
| December 31, 2022 |  | Expiration Year
Mexico | $ | 511 |  |  | 2023-2032
Canada | $ | 179,935 |  |  | 2040-2042
U.S.A. | $ | 7,382 |  |  | 2023-Indefinite
Argentina | $ | 5,692 |  |  | 2026-2027
Türkiye | $ | 7,621 |  |  | 2026-2027
Peru | $ | 263 |  |  | Indefinite
Schedule of Unrecognized Tax Benefits Roll Forward | A reconciliation of the beginning and ending amount of gross unrecognized tax benefits, inclusive of interest and penalties, is as follows during the years ended December 31 (in thousands):
|  | 2022 |  | 2021
Balance as of January 1 |  | $ | — |  |  | $ | — |
Increase associated with tax positions taken during the current year |  |  | — |  |  |  | — |
Increase (decrease) associated with tax positions taken during a prior year (1) |  |  | 9,200 |  |  |  | — |
Settlements |  |  | (626) |  |  |  | — |
Decrease associated with lapses in statutes of limitation |  |  | — |  |  |  | — |
Balance as of December 31 |  | $ | 8,574 |  |  | $ | — |
(1) Of the gross unrecognized tax benefits, $8.6 million were recognized as current liabilities in Condensed Consolidated Balance Sheet as of December, 31, 2022.

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