Income and Mining Taxes (Tables)

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The components of Income (loss) before income taxes are below:

	Year ended December 31,
In thousands	2017		2016			2015
United States	$	10,099	$	(13,299	)	$	(44,101	)
Foreign	29,824		2,487			(272,785		)
Total	$	39,923	$	(10,812	)	$	(316,886	)

The components of the consolidated Income and mining tax (expense) benefit from continuing operations are below:

	Year ended December 31,
In thousands	2017			2016			2015
Current:
United States	$	1,428		$	—		$	49
United States — State mining taxes	(6,016		)	(7,826		)	(4,305		)
United States — Foreign withholding tax	(8,466		)	(1,838		)	—
Argentina	55			10			715
Australia	—			14			130
Canada	876			(1,841		)	(516		)
Mexico	(30,763		)	(9,581		)	(476		)
Deferred:
United States	6,367			(1,610		)	(564		)
United States — State mining taxes	1,052			748			1,952
Argentina	1,531			115			(1,197		)
Australia	—			(1,638		)	3,223
Canada	104			1,338			2,875
Mexico	4,805			55,383			27,189
New Zealand	29			(27		)	—
Income tax (expense) benefit	$	(28,998	)	$	33,247		$	29,075

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the Company’s effective tax rate with the federal statutory tax rate for the periods indicated is below:

	Year ended December 31,
In thousands	2017			2016			2015
Income and mining tax (expense) benefit at statutory rate	$	(14,037	)	$	3,718		$	110,848
State tax provision from continuing operations	26			336			(2,075		)
Change in valuation allowance	86,712			40,517			(70,457		)
Effect of tax legislation	(88,174		)	—			—
Percentage depletion	703			983			—
Uncertain tax positions	2,596			(8,829		)	170
U.S. and foreign permanent differences	2,348			(2,652		)	(3,376		)
Mineral interest related	—			—			(18,318		)
Foreign exchange rates	(14,180		)	19,701			21,461
Foreign inflation and indexing	(2,346		)	(670		)	1,117
Foreign tax rate differences	2,929			120			(14,062		)
Mining, foreign withholding, and other taxes	(11,274		)	(11,052		)	8,141
Other, net	5,699			—			(4,374		)
Legal entity reorganization	—			(8,925		)	—
Income and mining tax (expense) benefit	$	(28,998	)	$	33,247		$	29,075

Schedule of Deferred Tax Assets and Liabilities

At December 31, 2017 and 2016, the significant components of the Company’s deferred tax assets and liabilities are below:

	Year ended December 31,
In thousands	2017			2016
Deferred tax liabilities:
Mineral properties	$	143,773		$	60,199
Unrealized foreign currency loss and other	1,748			—
Inventory	8,258			4,629
Royalty and other long-term debt	—			8,685
	$	153,779		$	73,513
Deferred tax assets:
Net operating loss carryforwards	$	155,512		$	186,005
Property, plant, and equipment	60,286			60,828
Mining Royalty Tax	11,797			6,359
Capital loss carryforwards	19,881			6,770
Asset retirement obligation	25,309			26,951
Foreign subsidiaries - unremitted earnings	1,842			3,685
Unrealized foreign currency loss and other	218			7,413
Accrued expenses	13,512			15,193
Tax credit carryforwards	45,277			29,227
	333,634			342,431
Valuation allowance	(282,868		)	(338,539		)
	50,766			3,892
Net deferred tax liabilities	$	103,013		$	69,621

Summary of Valuation Allowance

For additional information, please see the section titled “Risk Factors” included in Item 1A. Based upon this analysis, the Company has recorded valuation allowances as follows:

	Year ended December 31,
In thousands	2017		2016
U.S.	$	235,395	$	292,446
Argentina	3,914		6,197
Canada	2,455		1,296
Mexico	17,087		13,033
New Zealand	23,792		23,717
Other	225		1,850
	$	282,868	$	338,539

Summary of Tax Credit Carryforwards

The Company has the following tax attribute carryforwards at December 31, 2017, by jurisdiction:

In thousands	U.S.		Canada		Mexico		New Zealand		Other		Total
Regular net operating losses	$	369,973	$	39,833	$	56,958	$	86,165	$	12,436	$	565,365
Expiration years	2019-2037		2029-2036		2017-2026		Indefinite		2017-2021
Alternative minimum tax net operating losses	179,882		—		—		—		—		179,882
Capital losses	72,772		14,018		—		—		—		86,790
Alternative minimum tax credits	1,654		—		—		—		—		1,654
Foreign tax credits	41,730		—		—		—		—		41,730

Summary of Income Tax Contingencies

A reconciliation of the beginning and ending amount related to unrecognized tax benefits is below (in thousands):

Unrecognized tax benefits at December 31, 2015	$	2,131
Gross increase to current period tax positions	239
Gross increase to prior period tax positions	5,187
Reductions in unrecognized tax benefits resulting from a lapse of the applicable statute of limitations	(400		)
Unrecognized tax benefits at December 31, 2016	$	7,157
Gross increase to current period tax positions	202
Gross increase to prior period tax positions	316
Reductions in unrecognized tax benefits resulting from a lapse of the applicable statute of limitations	(2,351		)
Unrecognized tax benefits at December 31, 2017	$	5,324