XML 153 R15.htm IDEA: XBRL DOCUMENT
v3.22.1

Fair Value of Financial Instruments | 12 Months Ended
--- | ---
Dec. 31, 2021
Fair Value of Financial Instruments |
Fair Value of Financial Instruments | 9. Fair Value of Financial Instruments: For certain of Solitario's financial instruments, including cash and cash equivalents, payables and short-term debt, the carrying amounts approximate fair value due to their short maturities. Solitario's marketable equity securities, including its investment in shares of Kinross common stock, Vendetta common stock, Vox common stock and TNR common stock are carried at their estimated fair value based on publicly available quoted market prices. Solitario applies ASC 820 that establishes a framework for measuring fair value and requires enhanced disclosures about fair value measurements. ASC 820 clarifies that fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. ASC 820 also requires disclosure about how fair value is determined for assets and liabilities and establishes a hierarchy for which these assets and liabilities must be grouped, based on significant levels of inputs as follows:
| Level 1: | Quoted prices in active markets for identical assets or liabilities;
| Level 2: | Quoted prices in active markets for similar assets and liabilities and inputs that are observable for the asset or liability; or
| Level 3: | Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions.
The determination of where assets and liabilities fall within this hierarchy is based upon the lowest level of input that is significant to the fair value measurement. During the years ended December 31, 2021 and 2020, there were no reclassifications in financial assets or liabilities between Level 1, 2 or 3 categories. The following is a listing of Solitario’s financial assets and liabilities required to be measured at fair value on a recurring basis and where they are classified within the hierarchy as of December 31, 2021:
(in thousands) |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Assets |  |  |  |  |  |  |  |  |  |  |  |
Short-term investments |  | $ | 5,087 |  |  | $ | - |  |  | $ | - |  |  | $ | 5,087 |
Marketable equity securities |  | $ | 1,307 |  |  | $ | - |  |  | $ | - |  |  | $ | 1,307 |
Vendetta Warrants |  | $ | - |  |  | $ | 3 |  |  | $ | - |  |  | $ | 3 |
The following is a listing of Solitario’s financial assets and liabilities required to be measured at fair value on a recurring basis and where they are classified within the hierarchy as of December 31, 2020:
(in thousands) |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Assets |  |  |  |  |  |  |  |  |  |  |  |
Short-term investments |  | $ | 5,798 |  |  | $ | - |  |  | $ | - |  |  | $ | 5,798 |
Marketable equity securities |  | $ | 1,620 |  |  | $ | - |  |  | $ | - |  |  | $ | 1,620 |
Vendetta Warrants |  | $ | - |  |  | $ | 49 |  |  | $ | - |  |  | $ | 49 |
Items measured at fair value on a recurring basis: Short-term investments: At December 31, 2021 and 2020, Solitario’s holdings of short-term investments consist of USTS and CD’s recorded at their fair value based upon quoted market prices. Marketable equity securities: At December 31, 2021 and 2020, the fair value of Solitario’s holdings in shares of Vendetta, Kinross, Vox, and TNR (in 2020) marketable equity securities are based upon quoted market prices. Vendetta Warrants: At December 31, 2021 and 2020 the fair value of Solitario’s Vendetta Warrants is based upon a Black Scholes model, using market inputs. During the year ended December 31, 2021, Solitario did not change any of the valuation techniques used to measure its financial assets and liabilities at fair value.

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration