Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative instruments, future settlement

At December 31, 2014, the Company had the following derivative instruments that settle in each of the years indicated:

In thousands except average prices and notional ounces	2015			2016		Thereafter
Palmarejo gold production royalty	$	41,981		$	23,779	$	—
Average gold price in excess of minimum contractual deduction	$	775		$	774	$	—
Notional ounces	54,171			30,744		—
Silver concentrate sales contracts	$	10,392		$	—	$	—
Average silver price	$	16.35		$	—	$	—
Notional ounces	635,614			—		—
Gold concentrate sales contracts	$	35,576		$	—	$	—
Average gold price	$	1,221		$	—	$	—
Notional ounces	29,137			—		—
Gold put options purchased	$	14,400		$	—	$	—
Average gold strike price	$	1,200		$	—	$	—
Notional ounces	12,000			—		—
Silver put options purchased	$	11,250		$	—	$	—
Average silver strike price	$	18.00		$	—	$	—
Notional ounces	625,000			—		—
Gold put options sold	$	(12,600	)	$	—	$	—
Average gold strike price	$	1,050		$	—	$	—
Notional ounces	12,000			—		—
Silver put options sold	$	(10,000	)	$	—	$	—
Average silver strike price	$	16.00		$	—	$	—
Notional ounces	625,000			—		—

Fair value of the derivative instruments

The following summarizes the classification of the fair value of the derivative instruments:

	December 31, 2014
In thousands	Prepaid expenses and other		Accrued liabilities and other		Current portion of royalty obligation		Non-current portion of royalty obligation
Palmarejo gold production royalty	$	—	$	—	$	14,405	$	7,507
Silver and gold options	3,882		1,039
Concentrate sales contracts	43		848
	$	3,925	$	1,887	$	14,405	$	7,507

	December 31, 2013
	Prepaid expenses and other		Accrued liabilities and other		Current portion of royalty obligation		Non-current portion of royalty obligation
Foreign exchange contracts	$	38	$	947	$	—	$	—
Palmarejo gold production royalty	—		—		17,650		22,688
Silver and gold options	135		—		—		—
Concentrate sales contracts	11		693		—		—
	$	184	$	1,640	$	17,650	$	22,688

Gain losses on derivative instruments

The following represent mark-to-market gains (losses) on derivative instruments for the years ended December 31, 2014, 2013, and 2012 (in thousands):

		Year ended December 31,
Financial statement line	Derivative	2014			2013			2012
Sales of metal	Concentrate sales contracts	$	(123	)	$	(1,995	)	$	1,682
Costs applicable to sales	Foreign exchange contracts	924			589			(1,621		)
Fair value adjustments, net	Foreign exchange contracts	(16		)	(985		)	3,264
Fair value adjustments, net	Palmarejo gold royalty	(2,001		)	76,200			(31,053		)
Fair value adjustments, net	Silver and gold options	1,058			7,119			4,302
		$	(158	)	$	80,928		$	(23,426	)