XML 86 R20.htm IDEA: XBRL DOCUMENT v2.4.1.9
Segment Reporting
 12 Months Ended
Dec. 31, 2014
Segment Reporting [Abstract]  
Segment Reporting

13. Segment Reporting

 

With the completion of the Feasibility Study on February 22, 2012, Solitario now operates in two segments, (i) mineral exploration and (ii) mining development and operations. Solitario is capitalizing Mt. Hamilton development and operations costs subsequent to February 22, 2012, as detailed above in Note 2, “Mineral properties.”

 

Solitario’s Mt. Hamilton project is located in Nevada and all of Solitario's remaining operations are located in Peru, Brazil and Mexico as further described in Note 2, “Mineral Properties” to these consolidated financial statements. Included in the consolidated balance sheet at December 31, 2014 and 2013 are total assets of $70,000 and $412,000, respectively, related to Solitario's foreign operations located in Brazil, Peru and Mexico. Solitario is not aware of any foreign exchange restrictions on its subsidiaries located in foreign countries. During 2014 and 2013, Solitario recorded foreign exchange losses of $2,000 and $21,000, respectively. Solitario's cash accounts in foreign subsidiaries not denominated in United States dollars represent the only significant foreign currency denominated assets. Foreign currency denominated cash accounts totaled $14,000 and $64,000, respectively, at December 31, 2014 and 2013.

 

The following summarizes Solitario segment information for the year ended December 31, 2014:

 

(in thousands) Year ended December 31, 2014
  Mt Hamilton Exploration Corporate and Other Consolidated
Exploration expense $       -    $  279  $     -    $     279 
Interest expense -   -   -   -  
Other (income) loss (1) -     50  1,514  1,564 
Pre-tax income (loss)   $       -   $(329) $(1,514) $  (1,843)
Total assets (2) $16,017  $    57  $2,966  $19,040 
Capital Expenditures (3) $  2,915  $    -     $    -      $  2,915 

(1)     Corporate and other includes gain on sale of marketable equity securities of $472 and joint venture property payments of $200.

(2)     Corporate and other total assets include investment in marketable equity securities of $2,308.

(3) Capital expenditures at Mt. Hamilton include capitalized interest of $633 and capitalized other assets of $320.

 

The following summarizes Solitario segment information for the year ended December 31, 2013:

 

(in thousands) Year ended December 31, 2013
  Mt Hamilton Exploration Corporate and Other Consolidated
Exploration expense $       -    $   797  $     -    $     797 
Interest expense -   -   -   -  
Other (income) loss (1)        (287)   784  887  1,384 
Pre-tax income (loss)   $       287  $(1,581) $(887) $  (2,181)
Total assets (2)(3) $14,283  $   784  $4,433  $19,500 
Capital Expenditures (4) $  3,094  $       5  $       4  $  3,103 

(1)     Mt. Hamilton other includes gain on early retirement of debt of $313. Corporate and other includes gain on sale of marketable equity securities of $142 and joint venture and property payments of $300.

(2)     Exploration total assets include equity method investment of $153.

(3)     Corporate and other total assets include investment in marketable equity securities of $3,973.

(4) Capital expenditures at Mt. Hamilton include capitalized interest of $726 and capitalized other assets of $311.