Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2018

Schedule of Fair Value Adjustments to Comprehensive income (Loss)



	Three months ended June 30,					Six months ended June 30,
In thousands	2018			2017		2018			2017
Rochester royalty obligation	$	—		$	336	$	—		$	(864	)
Interest rate swap	(188		)	—		(188		)	—
Unrealized gain (loss) on equity securities	(8,028		)	—		(3,185		)	—
Realized gain (loss) on equity securities	5,535			—		5,202			—
Zinc options	219			—		363			—
Fair value adjustments, net	$	(2,462	)	$	336	$	2,192		$	(864	)

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 June 30, 2018
In thousands	Total		Level 1		Level 2		Level 3
Assets:
Equity and debt securities	$	23,804	$	17,577	$	—	$	6,227
Other derivative instruments, net	486		—		486		—
	$	24,290	$	17,577	$	486	$	6,227
Liabilities:
Silvertip contingent consideration	$	48,616	$	—	$	—	$	48,616
Other derivative instruments, net	302		—		302		—
	$	48,918	$	—	$	302	$	48,616



	Fair Value at December 31, 2017
In thousands	Total		Level 1		Level 2		Level 3
Assets:
Equity and debt securities	$	34,837	$	27,946	$	—	$	6,891
Other derivative instruments, net	251		—		251		—
	$	35,088	$	27,946	$	251	$	6,891
Liabilities:
Silvertip contingent consideration	$	47,965	$	—	$	—	$	47,965
Other derivative instruments, net	222		—		222		—
	$	48,187	$	—	$	222	$	47,965

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 and six months ended June 30, 2018:



	Three Months Ended June 30, 2018
In thousands	Balance at the beginning of the period		Revaluation			Settlements		Accretion		Balance at the end of the period
Assets:
Equity and debt securities	$	6,314	$	(87	)	$	—	$	—	$	6,227
Liabilities:
Silvertip contingent consideration	$	48,289	$	—		$	—	$	327	$	48,616



	Six Months Ended June 30, 2018
In thousands	Balance at the beginning of the period		Revaluation			Settlements			Accretion		Balance at the end of the period
Assets:
Equity and debt securities	$	6,891	$	(365	)	$	(299	)	$	—	$	6,227
Liabilities:
Silvertip contingent consideration	$	47,965	$	—		$	—		$	651	$	48,616

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 June 30, 2018 and December 31, 2017 is presented in the following table:



	June 30, 2018
In thousands	Book Value		Fair Value		Level 1		Level 2		Level 3
Assets:
Manquiri Notes Receivable	$	40,315	$	40,157	$	—	$	—	$	40,157
Liabilities:
5.875% Senior Notes due 2024⁽¹⁾	$	245,471	$	238,019	$	—	$	238,019	$	—
Revolving Credit Facility⁽²⁾	$	115,000	$	115,000	$	—	$	115,000	$	—

⁽¹⁾Net of unamortized debt issuance costs of $4.5 million.

⁽²⁾Unamortized debt issuance costs of $1.7 million included in Other Non-Current Assets.



	December 31, 2017
In thousands	Book Value		Fair Value		Level 1		Level 2		Level 3
Liabilities:
5.875% Senior Notes due 2024⁽¹⁾	$	245,088	$	243,913	$	—	$	243,913	$	—
Revolving Credit Facility⁽²⁾	$	100,000	$	100,000	$	—	$	100,000	$	—

⁽¹⁾Net of unamortized debt issuance costs of $4.9 million.

⁽²⁾Unamortized debt issuance costs of $1.9 million included in Other Non-Current Assets.