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Segment Reporting

6 Months Ended

Jun. 30, 2018

Segment Reporting

Segment Reporting

20. Segment Reporting

The Company has organized its operations into two geographic regions. The geographic regions include Oaxaca, Mexico and Nevada, U.S.A. and represent the Company’s operating segments. Intercompany revenue and expense amounts have been eliminated within each segment in order to report on the basis that management uses internally for evaluating segment performance.  The Company’s business activities that are not considered operating segments are included in Corporate and Other.

The financial information relating to the Company’s segments is as follows (in thousands):

		Mexico			Nevada			Corporate and Other			Consolidated
Three months ended June 30, 2018
Revenue		$	30,768		$	-		$	-		$	30,768
Exploration expense			490			726			35			1,251
Net income (loss)			7,036			(791)			(2,491)			3,754
Capital expenditures			5,832			3,055			-			8,887
			Mexico			Nevada		Corporate and Other				Consolidated
Three months ended June 30, 2017
Revenue		$	21,391		$	-		$	-		$	21,391
Exploration expense			226			873			37			1,136
Net income (loss)			3,629			(874)			(1,891)			864
Capital expenditures			5,057			3,550			3			8,610

		Mexico			Nevada			Corporate and Other			Consolidated
Six months ended June 30, 2018
Revenue		$	62,919		$	-		$	-		$	62,919
Exploration expense			986			1,377			73			2,436
Net income (loss)			15,624			(1,499)			(4,914)			9,211
Capital expenditures (1)			11,704			4,322			-			16,026
		Mexico			Nevada			Corporate and Other			Consolidated
Six months ended June 30, 2017
Revenue		$	45,727		$	-		$	-		$	45,727
Exploration expense			604			1,277			77			1,958
Net income (loss)			10,066			(1,286)			(3,540)			5,240
Capital expenditures (2)			10,114			6,344			9			16,467

(1) Includes an increase in accrued capital expenditures of $918; consolidated capital expenditures on a cash basis were $15,108.

(2) Includes an increase in accrued capital expenditures of $4,328 and non-cash additions of $1,321; consolidated capital expenditures on a cash basis were $10,818.

Total asset balances, excluding intercompany balances at June 30, 2018 and December 31, 2017 are as follows:

		2018			2017
		(in thousands)
Mexico		$	98,736		$	87,739
Nevada			30,181			25,741
Corporate and Other			17,232			19,443
Consolidated		$	146,149		$	132,923

Revenue Concentration

During the three and six months ended June 30, 2018 and 2017, one customer accounted for 94% of the Company’s revenue.

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- References

No definition available.

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- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

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