Derivative Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative instruments, future settlement

At June 30, 2015, 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	$	22,220		$	23,374	$	—
Average gold price in excess of minimum contractual deduction	$	762		$	760	$	—
Notional ounces	29,169			30,744		—
Provisional silver sales	$	12,505		$	—	$	—
Average silver price	$	15.84		$	—	$	—
Notional ounces	789,479			—		—
Provisional gold sales	$	52,776		$	—	$	—
Average gold price	$	1,193		$	—	$	—
Notional ounces	44,238			—		—
Silver put options purchased	$	15,300		$	—	$	—
Average silver strike price	$	17.00		$	—	$	—
Notional ounces	900,000			—		—
Silver put options sold	$	(13,950	)	$	—	$	—
Average silver strike price	$	15.50		$	—	$	—
Notional ounces	900,000			—		—

Fair value of the derivative instruments

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

	June 30, 2015
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	—		—		13,878		1,404
Silver and gold options	1,250		123		—		—
Concentrate sales contracts	142		655		—		—
	$	1,392	$	778	$	13,878	$	1,404

	December 31, 2014
	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

Gain losses on derivative instruments

The following represent mark-to-market gains (losses) on derivative instruments for the three and six months ended June 30, 2015, and 2014 (in thousands):

		Three months ended June 30,						Six months ended June 30,
Financial statement line	Derivative	2015			2014			2015			2014
Revenue	Concentrate sales contracts	$	(623	)	$	7		$	291		$	872
Costs applicable to sales	Foreign exchange contracts	—			(10		)	—			(924		)
Fair value adjustments, net	Foreign exchange contracts	—			—			—			957
Fair value adjustments, net	Palmarejo gold royalty	385			(5,061		)	(1,160		)	(15,296		)
Fair value adjustments, net	Silver and gold options	1,232			(1,374		)	185			(2,868		)
		$	994		$	(6,438	)	$	(684	)	$	(17,259	)