Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative instruments, future settlement

At September 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	$	11,760	$	20,543	$	—
Average gold price in excess of minimum contractual deduction	$	706	$	700	$	—
Notional ounces	16,668		29,328		—
Provisional silver sales	$	8,234	$	—	$	—
Average silver price	$	14.65	$	—	$	—
Notional ounces	562,063		—		—
Provisional gold sales	$	44,812	$	—	$	—
Average gold price	$	1,147	$	—	$	—
Notional ounces	39,069		—		—

Fair value of the derivative instruments

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

	September 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	—		—		9,024		—
Concentrate sales contracts	120		551		—		—
	$	120	$	551	$	9,024	$	—

	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 nine months ended September 30, 2015, and 2014 (in thousands):

		Three months ended September 30,					Nine months ended September 30,
Financial statement line	Derivative	2015		2014			2015		2014
Revenue	Concentrate sales contracts	$	82	$	(684	)	$	373	$	188
Costs applicable to sales	Foreign exchange contracts	—		—			—		(924		)
Fair value adjustments, net	Foreign exchange contracts	—		(57		)	—		901
Fair value adjustments, net	Palmarejo gold royalty	2,983		8,736			1,823		(6,560		)
Fair value adjustments, net	Silver and gold options	1,051		3,081			2,662		213
		$	4,116	$	11,076		$	4,858	$	(6,182	)