XML 23 R10.htm IDEA: XBRL DOCUMENT v3.8.0.1
Segment Reporting
 9 Months Ended
Sep. 30, 2017
Segment Reporting [Abstract]  
SEGMENT REPORTING
SEGMENT REPORTING
The Company’s operating segments include the Palmarejo complex, and the Rochester, Kensington, Wharf, and San Bartolomé mines. All operating segments are engaged in the discovery, mining, and production of gold and/or silver. Other includes the La Preciosa project, other mineral interests, strategic equity investments, corporate office, elimination of intersegment transactions, and other items necessary to reconcile to consolidated amounts. The Company eliminated Coeur Capital as a standalone reportable segment in the first quarter of 2017 and has classified the operating performance, segment assets, and capital expenditures of the Endeavor silver stream and other remaining non-core assets in Other. All prior period amounts have been adjusted to conform to the current presentation.
Financial information relating to the Company’s segments is as follows (in thousands):
Three months ended September 30, 2017
Palmarejo
 
Rochester
 
Kensington
 
Wharf
 
San Bartolomé
 
Other
 
Total
Revenue
 
 
 
 
 
 
 
 
 
 
 
 
 
Metal sales
$
60,677

 
$
31,156

 
$
36,603

 
$
31,334

 
$
16,043

 
$
150

 
$
175,963

Costs and Expenses
 
 
 
 
 
 
 
 
 
 
 
 
 
Costs applicable to sales(1)
33,255

 
23,275

 
27,658

 
17,330

 
17,365

 
41

 
118,924

Amortization
16,414

 
4,591

 
7,864

 
3,223

 
1,430

 
308

 
33,830

Exploration
4,517

 
531

 
2,966

 
207

 
23

 
1,570

 
9,814

Other operating expenses
319

 
846

 
356

 
648

 
2,998

 
10,206

 
15,373

Other income (expense)
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest expense, net
(112
)
 
(136
)
 
(113
)
 
(16
)
 
(11
)
 
(3,218
)
 
(3,606
)
Other, net
(218
)
 
(73
)
 
(28
)
 
4

 
754

 
2,725

 
3,164

Income and mining tax (expense) benefit
(7,898
)
 
41

 
—

 
(963
)
 
(518
)
 
(4,894
)
 
(14,232
)
Net income (loss)
$
(2,056
)

$
1,745


$
(2,382
)

$
8,951


$
(5,548
)

$
(17,362
)

$
(16,652
)
Segment assets(2)
$
388,044

 
$
253,477

 
$
211,052

 
$
103,843

 
$
64,463

 
$
71,551

 
$
1,092,430

Capital expenditures
$
5,540

 
$
9,737

 
$
10,144

 
$
3,135

 
$
479

 
$
426

 
$
29,461

(1) Excludes amortization
(2) Segment assets include receivables, prepaids, inventories, property, plant and equipment, and mineral interests

Three months ended September 30, 2016
Palmarejo
 
Rochester
 
Kensington
 
Wharf
 
San Bartolomé
 
Other
 
Total
Revenue
 
 
 
 
 
 
 
 
 
 
 
 
 
Metal sales
$
30,663

 
$
37,946

 
$
40,164

 
$
39,316

 
$
27,485

 
$
812

 
$
176,386

Royalties
—

 
—

 
—

 
—

 
—

 
(139
)
 
(139
)
 
30,663


37,946


40,164


39,316


27,485


673


176,247

Costs and Expenses
 
 
 
 
 
 
 
 
 
 
 
 
 
Costs applicable to sales(1)
16,033

 
21,783

 
26,709

 
19,697

 
20,813

 
373

 
105,408

Amortization
5,761

 
5,244

 
8,046

 
6,461

 
1,723

 
528

 
27,763

Exploration
1,262

 
129

 
1,208

 
2

 
—

 
1,105

 
3,706

Other operating expenses
305

 
703

 
263

 
521

 
1,165

 
8,647

 
11,604

Other income (expense)
 
 
 
 
 
 
 
 
 
 


 


Loss on debt extinguishment
—

 
—

 
—

 
—

 
—

 
(10,040
)
 
(10,040
)
Fair value adjustments, net
(110
)
 
(851
)
 
—

 
—

 
—

 
—

 
(961
)
Interest expense, net
(184
)
 
(157
)
 
(30
)
 
(22
)
 
(8
)
 
(7,667
)
 
(8,068
)
Other, net
(2,223
)
 
17

 
(7
)
 
45

 
549

 
8,024

 
6,405

Income and mining tax (expense) benefit
35,671

 
7,844

 
—

 
30,208

 
5,905

 
(25,173
)
 
54,455

Net income (loss)
$
40,456


$
16,940


$
3,901


$
42,866


$
10,230


$
(44,836
)

$
69,557

Segment assets(2)
$
430,716

 
$
212,477

 
$
192,204

 
$
105,456

 
$
81,704

 
$
87,353

 
$
1,109,910

Capital expenditures
$
10,012

 
$
3,383

 
$
8,602

 
$
567

 
$
3,001

 
$
62

 
$
25,627

(1) Excludes amortization
(2) Segment assets include receivables, prepaids, inventories, property, plant and equipment, and mineral interests
Nine months ended September 30, 2017
Palmarejo
 
Rochester
 
Kensington
 
Wharf
 
San Bartolomé
 
Other
 
Total
Revenue
 
 
 
 
 
 
 
 
 
 
 
 
 
Metal sales
$
191,616

 
$
102,926

 
$
110,134

 
$
88,598

 
$
60,441

 
$
1,740

 
$
555,455

Costs and Expenses
 
 
 
 
 
 
 
 
 
 
 
 


Costs applicable to sales(1)
110,150

 
73,875

 
84,089

 
49,418

 
58,979

 
746

 
377,257

Amortization
50,995

 
15,345

 
25,389

 
8,883

 
5,053

 
1,215

 
106,880

Exploration
9,272

 
990

 
5,785

 
210

 
23

 
6,599

 
22,879

Other operating expenses
930

 
2,487

 
1,051

 
1,899

 
4,048

 
31,080

 
41,495

Other income (expense)
 
 
 
 
 
 
 
 
 
 
 
 
 
Loss on debt extinguishment
—

 
—

 
—

 
—

 
—

 
(9,342
)
 
(9,342
)
Fair value adjustments, net
—

 
(864
)
 
—

 
—

 
—

 
—

 
(864
)
Interest expense, net
(339
)
 
(386
)
 
(266
)
 
(52
)
 
(23
)
 
(9,875
)
 
(10,941
)
Other, net
(345
)
 
2,239

 
(893
)
 
429

 
1,125

 
25,884

 
28,439

Income and mining tax (expense) benefit
(22,313
)
 
(413
)
 
—

 
(2,980
)
 
(304
)
 
2,830

 
(23,180
)
Net income (loss)
$
(2,728
)

$
10,805


$
(7,339
)

$
25,585


$
(6,864
)

$
(28,403
)

$
(8,944
)
Segment assets(2)
$
388,044

 
$
253,477

 
$
211,052

 
$
103,843

 
$
64,463

 
$
71,551

 
$
1,092,430

Capital expenditures
$
22,972

 
$
34,121

 
$
24,314

 
$
5,493

 
$
1,242

 
$
2,780

 
$
90,922

(1) Excludes amortization
(2) Segment assets include receivables, prepaids, inventories, property, plant and equipment, and mineral interests

Nine months ended September 30, 2016
Palmarejo
 
Rochester
 
Kensington
 
Wharf
 
San Bartolomé
 
Other
 
Total
Revenue
 
 
 
 
 
 
 
 
 
 
 
 
 
Metal sales
$
108,748

 
$
103,689

 
$
112,376

 
$
101,250

 
$
73,948

 
$
3,208

 
$
503,219

Royalties


 


 


 


 


 
3,422

 
3,422

 
108,748


103,689


112,376


101,250


73,948


6,630

 
506,641

Costs and Expenses
 
 
 
 
 
 
 
 
 
 
 
 
 
Costs applicable to sales(1)
59,936

 
65,989

 
73,738

 
49,500

 
56,955

 
1,310

 
307,428

Amortization
27,815

 
15,994

 
26,203

 
15,640

 
5,330

 
2,250

 
93,232

Exploration
2,625

 
426

 
2,138

 
2

 
—

 
2,478

 
7,669

Write-downs
—

 
—

 
—

 
—

 
—

 
4,446

 
4,446

Other operating expenses
898

 
2,084

 
772

 
1,702

 
2,532

 
27,860

 
35,848

Other income (expense)
 
 
 
 
 
 
 
 
 
 


 
 
Loss on debt extinguishment
—

 
—

 
—

 
—

 
—

 
(10,040
)
 
(10,040
)
Fair value adjustments, net
(5,814
)
 
(5,787
)
 
—

 
—

 
—

 
(1,634
)
 
(13,235
)
Interest expense, net
(1,343
)
 
(509
)
 
(107
)
 
(49
)
 
(18
)
 
(28,037
)
 
(30,063
)
Other, net
(7,818
)
 
(3,840
)
 
(26
)
 
259

 
1,275

 
16,012

 
5,862

Income and mining tax (expense) benefit
38,922

 
7,429

 
—

 
29,972

 
5,182

 
(28,387
)
 
53,118

Net income (loss)
$
41,421


$
16,489


$
9,392


$
64,588


$
15,570


$
(83,800
)
 
$
63,660

Segment assets(2)
$
430,716

 
$
212,477

 
$
192,204

 
$
105,456

 
$
81,704

 
$
87,353

 
$
1,109,910

Capital expenditures
$
27,690

 
$
10,557

 
$
24,228

 
$
3,488

 
$
4,839

 
$
285

 
$
71,087

(1) Excludes amortization
(2) Segment assets include receivables, prepaids, inventories, property, plant and equipment, and mineral interests

Assets
September 30, 2017

December 31, 2016
Total assets for reportable segments
$
1,092,430

 
$
1,122,038

Cash and cash equivalents
236,221

 
162,182

Other assets
73,441


34,689

Total consolidated assets
$
1,402,092


$
1,318,909



Geographic Information
Long-Lived Assets
September 30, 2017

December 31, 2016
Mexico
$
366,960

 
$
397,697

United States
375,728

 
338,897

Bolivia
27,662

 
31,539

Australia
—

 
2,983

Argentina
228

 
10,228

Other
681

 
5,564

Total
$
771,259


$
786,908

 
Revenue
Three months ended September 30,
 
Nine months ended September 30,
2017
 
2016
 
2017
 
2016
United States
$
99,093

 
$
117,425

 
$
301,658

 
$
317,315

Mexico
60,677

 
30,663

 
191,616

 
109,674

Bolivia
16,043

 
27,485

 
60,441

 
73,948

Australia
150

 
812

 
1,740

 
3,207

Other
—


(138
)
 
—


2,497

Total
$
175,963

 
$
176,247

 
$
555,455


$
506,641