Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2018

Schedule of Fair Value Adjustments to Comprehensive income (Loss)



	Three months ended September 30,					Nine months ended September 30,
In thousands	2018			2017		2018			2017
Rochester royalty obligation	$	—		$	—	$	—		$	(864	)
Interest rate swap	206			—		18			—
Unrealized gain (loss) on equity securities	286			—		(2,898		)	—
Realized gain (loss) on equity securities	(3		)	—		5,199			—
Zinc options	226			—		588			—
Fair value adjustments, net	$	715		$	—	$	2,907		$	(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 September 30, 2018
In thousands	Total		Level 1		Level 2		Level 3
Assets:
Equity and debt securities	$	24,232	$	19,665	$	—	$	4,567
Other derivative instruments, net	507		—		507		—
	$	24,739	$	19,665	$	507	$	4,567
Liabilities:
Silvertip contingent consideration	$	48,945	$	—	$	—	$	48,945
Other derivative instruments, net	267		—		267		—
	$	49,212	$	—	$	267	$	48,945



	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 nine months ended September 30, 2018:



	Three Months Ended September 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	$	6,227	$	193	$	(1,853	)	$	—	$	4,567
Liabilities:
Silvertip contingent consideration	$	48,616	$	—	$	—		$	329	$	48,945



	Nine Months Ended September 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	$	(172	)	$	(2,152	)	$	—	$	4,567
Liabilities:
Silvertip contingent consideration	$	47,965	$	—		$	—		$	980	$	48,945

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



	September 30, 2018
In thousands	Book Value		Fair Value		Level 1		Level 2		Level 3
Assets:
Manquiri Notes Receivable	$	9,207	$	9,207	$	—	$	—	$	9,207
Liabilities:
5.875% Senior Notes due 2024⁽¹⁾	$	245,662	$	235,725	$	—	$	235,725	$	—
Revolving Credit Facility⁽²⁾	$	120,000	$	120,000	$	—	$	120,000	$	—

⁽¹⁾Net of unamortized debt issuance costs of $4.3 million.

⁽²⁾Unamortized debt issuance costs of $1.5 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.