Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2014

Fair Value Disclosures [Abstract]

Schedule of Fair Value Adjustments to Comprehensive income (Loss)

The following table presents the components of Fair value adjustments, net in the Condensed Consolidated Statements of Comprehensive Income (Loss) (in thousands):

	Three months ended March 31,
	2014			2013
Palmarejo royalty obligation embedded derivative	$	(4,019	)	$	23,534
Palmarejo gold production royalty obligation	(6,218		)	(9,105		)
Rochester net smelter royalty obligation	(673		)	—
Gold and silver put options	(1,494		)	4,227
Foreign exchange contracts	968			(860		)
	$	(11,436	)	$	17,796

Financial assets and liabilities measured at fair value on recurring basis

The following table presents the Company’s financial assets and liabilities measured at fair value on a recurring basis (at least annually) by level within the fair value hierarchy. Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement (in thousands):

	Fair Value at March 31, 2014
	Total		Level 1		Level 2		Level 3
Assets:
Short-term investments	$	45,628	$	45,628	$	—	$	—
Marketable equity securities	15,646		15,646		—		—
Gold and silver put options	992		—		992		—
Other derivative instruments, net	258		—		258		—
	$	62,524	$	61,274	$	1,250	$	—
Liabilities:
Palmarejo royalty obligation embedded derivative	$	44,357	$	—	$	—	$	44,357
Rochester net smelter royalty obligation	22,303		—		—		22,303
Gold and silver put options	226		—		226		—
	$	66,886	$	—	$	226	$	66,660

	Fair Value at December 31, 2013
	Total		Level 1		Level 2		Level 3
Assets:
Marketable equity securities	$	14,521	$	14,521	$	—	$	—
Gold and silver put options	135		—		135		—
	$	14,656	$	14,521	$	135	$	—
Liabilities:
Palmarejo royalty obligation embedded derivative	$	40,338	$	—	$	—	$	40,338
Rochester net smelter royalty obligation	21,630		—		—		21,630
Other derivative instruments, net	1,590		—		1,590		—
	$	63,558	$	—	$	1,590	$	61,968

Changes in the fair value of the Company's Level 3 financial liabilities

The following table presents the changes in the fair value of the Company's Level 3 financial liabilities for the three months endedMarch 31, 2014:

	Balance at the beginning of the period		Revaluation		Balance at the end of the period
Palmarejo royalty obligation embedded derivative	$	40,338	$	4,019	$	44,357
Rochester net smelter royalty obligation	21,630		673		22,303

Financial Assets and Liabilities not Measured at Fair Value

The fair value of financial assets and liabilities measured at book value in the financial statements at March 31, 2014 and December 31, 2013 are presented in the following table (in thousands):

	March 31, 2014
	Book Value		Fair Value		Level 1		Level 2		Level 3
Liabilities:
3.25% Convertible Senior Notes due 2028	$	5,334	$	5,281	$	—	$	5,281	$	—
7.875% Senior Notes due 2021	452,964		454,127		—		454,127		—
Palmarejo Gold Production Royalty Obligation	45,980		57,377		—		—		57,377

	December 31, 2013
	Book Value		Fair Value		Level 1		Level 2		Level 3
Liabilities:
3.25% Convertible Senior Notes due 2028	$	5,334	$	5,067	$	5,067	$	—	$	—
7.875% Senior Notes due 2021	300,000		307,314		307,314		—		—
Palmarejo Gold Production Royalty Obligation	51,193		65,212		—		—		65,212