Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2017

Fair Value Disclosures [Abstract]

Schedule of Fair Value Adjustments to Comprehensive income (Loss)

	Three months ended March 31,
In thousands	2017			2016
Rochester net smelter returns (“NSR”) royalty obligation	$	(1,200	)	$	(2,249	)
Palmarejo royalty obligation embedded derivative	—			(4,878		)
Silver and gold options	—			(1,568		)
Fair value adjustments, net	$	(1,200	)	$	(8,695	)

Financial assets and liabilities measured at fair value on recurring basis

The following table presents the Company’s financial assets and liabilities measured at fair value on a recurring basis (at least annually) by level within the fair value hierarchy. Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement:

	Fair Value at March 31, 2017
In thousands	Total		Level 1		Level 2		Level 3
Assets:
Equity securities	$	3,796	$	3,517	$	—	$	279
Other derivative instruments, net	614		—		614		—
	$	4,410	$	3,517	$	614	$	279
Liabilities:
Rochester NSR royalty obligation	9,277		—		—		9,277
Other derivative instruments, net	4		—		4		—
	$	9,281	$	—	$	4	$	9,277

	Fair Value at December 31, 2016
In thousands	Total		Level 1		Level 2		Level 3
Assets:
Equity securities	$	4,488	$	4,209	$	—	$	279
Liabilities:
Rochester NSR royalty obligation	9,287		—		—		9,287
Other derivative instruments, net	762		—		762		—
	$	10,049	$	—	$	762	$	9,287

Changes in the fair value of the Company's Level 3 financial liabilities

The following tables present the changes in the fair value of the Company's Level 3 financial assets and liabilities for the three months ended March 31, 2017:

	Three Months Ended March 31, 2017
In thousands	Balance at the beginning of the period		Revaluation		Settlements			Balance at the end of the period
Assets:
Equity securities	$	279	$	—	$	—		$	279
Liabilities:
Rochester NSR royalty obligation	$	9,287	$	1,200	$	(1,210	)	$	9,277

Financial Assets and Liabilities not Measured at Fair Value

The fair value of financial assets and liabilities carried at book value in the financial statements at March 31, 2017 and December 31, 2016 is presented in the following table:

	March 31, 2017
In thousands	Book Value		Fair Value		Level 1		Level 2		Level 3
Liabilities:
7.875% Senior Notes due 2021(1)	$	176,114	$	184,279	$	—	$	184,279	$	—

(1) Net of unamortized debt issuance costs and premium received of $1.9 million.

	December 31, 2016
In thousands	Book Value		Fair Value		Level 1	Level 2		Level 3
Liabilities:
7.875% Senior Notes due 2021(1)	$	175,991	$	184,373	—	$	184,373	—

(1) Net of unamortized debt issuance costs and premium received of $2.0 million.