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Post-employment benefit obligations
 12 Months Ended
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).