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Post-employment benefit obligations | 12 Months Ended
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Dec. 31, 2017
Disclosure of defined benefit plans [abstract] |
Post-employment benefit obligations | 11. Post-employment benefit obligations The Company maintains two non-contributory defined benefit pension plans covering substantially all employees at its U.S. operating subsidiary, U.S. Silver – Idaho, Inc. One plan covers salaried employees and one plan covers hourly employees. Benefits for the salaried plan are based on salary and years of service. Hourly plan benefits are based on negotiated benefits and years of service. The Company’s funding policy is to contribute annually the minimum amount prescribed, as specified by applicable regulations. The expected average service life of the active plan participants as at December 31, 2017 is approximately 9 years. The amounts recognized in the consolidated statements financial position are as follows:
|  | December 31, |  |  | December 31, |
|  | 2017 |  |  | 2016 |
Present value of funded obligations |  | $ | 26,730 |  |  | $ | 23,910 |
Fair value of plan assets |  |  | 18,112 |  |  |  | 15,794 |
Deficit of funded plans |  | $ | 8,618 |  |  | $ | 8,116 |
The movements in the defined benefit obligations are as follows:
|  | December 31, |  |  | December 31, |
|  | 2017 |  |  | 2016 |
Obligations, beginning of year |  | $ | 23,910 |  |  | $ | 24,495 |
Current service costs |  |  | 774 |  |  |  | 781 |
Interest costs |  |  | 999 |  |  |  | 1,057 |
Benefits paid |  |  | (901 | ) |  |  | (830 | )
Actuarial loss (gain) |  |  | 1,948 |  |  |  | (1,593 | )
Obligations, end of year |  | $ | 26,730 |  |  | $ | 23,910 |
The movements in the fair value of plan assets are as follows:
|  | December 31, |  |  | December 31, |
|  | 2017 |  |  | 2016 |
Assets, beginning of year |  | $ | 15,794 |  |  | $ | 15,205 |
Return on assets |  |  | 678 |  |  |  | 648 |
Actuarial gain |  |  | 1,555 |  |  |  | 13 |
Employer contributions |  |  | 986 |  |  |  | 758 |
Benefits paid |  |  | (901 | ) |  |  | (830 | )
Assets, end of year |  | $ | 18,112 |  |  | $ | 15,794 |
The amounts recognized in the consolidated statements of loss and comprehensive loss are as follows:
|  | December 31, |  |  | December 31, |
|  | 2017 |  |  | 2016 |
Current service costs and interest costs |  |  |  |  |  |
included in cost of sales |  | $ | 1,773 |  |  | $ | 1,838 |
The principal actuarial assumptions are as follows:
|  | December 31, |  |  | December 31, |
T |  | 2017 |  |  | 2016 |
Discount rate (expense) |  |  | 4.25 | % |  |  | 4.25 | %
Discount rate (year end disclosures) |  |  | 3.75 | % |  |  | 4.25 | %
Future salary increases (salaried plan only) |  |  | 5.00 | % |  |  | 5.00 | %
A 1% decrease in discount rate would have resulted in approximately $4.4 million increase in the defined benefit obligation from $26.7 million to $31.1 million as at December 31, 2017 (2016: $3.8 million increase in the defined benefit obligation from $23.9 million to $27.7 million). A 1% increase in future salary increases would have resulted in approximately $0.1 million increase in the defined benefit obligation from $26.7 million to $26.8 million as at December 31, 2017 (2016: $0.1 million increase in the defined benefit obligation from $23.9 million to $24.0 million). Plan assets are fully comprised of pooled or mutual funds. The expected return on plan assets at 4.3% (2016: 4.2%) is determined by considering the expected returns available on the assets underlying the current investment policy. Expected yield on fixed interest investments is based on gross redemption yields as at the end of the reporting period. Expected returns on equity investments reflect long-term real rates of return in the market. Expected contributions to pension benefit plans for the year ended December 31, 2018 are approximately $0.8 million. For the year ended December 31, 2017, the actuarial losses charged to other comprehensive loss are $0.4 million (2016: actuarial gains of $1.6 million charged to other comprehensive income).

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- Definition The entire disclosure for employee benefits. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 19 -IssueDate 2017-01-01 -Section Scope -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&num=19&date=2017-03-01&anchor=sect_Scope&doctype=Standard -URIDate 2017-03-09 + Details
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