Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2016

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative instruments, future settlement

At September 30, 2016, the Company had the following derivative instruments that settle as follows:

In thousands except average prices and notional ounces	2016		Thereafter
Provisional silver sales	$	5,349	$	—
Average silver price	$	19.35	$	—
Notional ounces	276,448		—
Provisional gold sales	$	32,150	$	—
Average gold price	$	1,315	$	—
Notional ounces	24,449		—

Fair value of the derivative instruments

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

	September 30, 2016
In thousands	Prepaid expenses and other		Accrued liabilities and other		Current portion of royalty obligation		Non-current portion of royalty obligation
Provisional silver and gold sales contracts	$	32	$	162	$	—	$	—

	December 31, 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	$	—	$	—	$	4,957	$	—
Provisional silver and gold sales contracts	28		536		—		—
	$	28	$	536	$	4,957	$	—

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, 2016 and 2015 (in thousands):

		Three months ended September 30,					Nine months ended September 30,
Financial statement line	Derivative	2016			2015		2016			2015
Revenue	Provisional silver and gold sales contracts	$	(784	)	$	82	$	378		$	373
Fair value adjustments, net	Palmarejo gold royalty	(110		)	2,983		(5,866		)	1,823
Fair value adjustments, net	Silver and gold options	—			1,051		(1,582		)	2,662
		$	(894	)	$	4,116	$	(7,070	)	$	4,858