WRITE-DOWNS



	Year ended December 31,
	2014		2013		2012
Mining properties
Palmarejo	668,803		539,359		—
San Bartolomé	32,328		—		—
Kensington	67,671		82,337		—
La Preciosa	371,411		—		—
Joaquin	83,429		—		—
Coeur Capital (El Gallo)	6,202		—		—
Martha	—		205		5,825
	1,229,844		621,901		5,825

Property, plant, and equipment
Palmarejo	$	115,235	$	102,735	$	—
San Bartolomé	86,426		—		—
Kensington	40,161		48,357		—
La Preciosa	1,055		—		—
	242,877		151,092		—

Total	$	1,472,721	$	772,993	$	5,825

The 2014 write-down of $1,472.7 million ($1,021.8 million net of tax) was primarily due to a $784.0 million impairment of the Palmarejo mine ($504.5 million net of tax) and a $372.5 million impairment of the La Preciosa project ($244.9 million net of tax). The non-cash impairment charges were largely driven by significant decreases in long-term metal price assumptions and revised mine plans in the fourth quarter. 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 2013 write-down of $773.0 million was primarily due to a $642.1 million impairment of the Palmarejo mine ($462.3 million net of tax) 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 reflective of the current silver and gold price environment.

The 2012 write-down of $5.8 million was due to the cessation of mining operations at the Martha Mine.