Write-Downs

12 Months Ended

Dec. 31, 2013

Property, Plant and Equipment [Abstract]

Write-Downs

WRITE-DOWNS

	Year ended December 31,
	2013		2012		2011
Property, plant, and equipment
Palmarejo	$	102,735	$	—	$	—
Kensington	48,357		—		—
	151,092		—		—
Mining properties
Palmarejo	539,359		—		—
Kensington	82,337		—		—
Martha	205		5,825		—
	621,901		5,825		—
Total	$	772,993	$	5,825	$	—

Write-downs were $773.0 million, $5.8 million, and $0.0 million in 2013, 2012, and 2011, respectively. The 2013 write-down was primarily due to a $642.1 million impairment of the Palmarejo mine (excluding $179.8 million tax benefit) and a $130.7 million impairment of the Kensington mine due to a decrease in the Company's long-term silver and gold price assumptions. The decrease in silver and gold price assumptions represented significant changes in the business, requiring the Company to evaluate for impairment. For purposes of this evaluation, estimates of future cash flows of the individual reporting units were used to determine fair value. The estimated cash flows were derived from life-of-mine plans, developed using long-term pricing reflective of the current price environment and management’s projections for operating costs.

The 2012 write-down was due to the cessation of mining operations at the Martha Mine in September 2012. Refer to Note 11 -- Fair Value Measurements for additional information related to the fair value determination of the impairment.