SEGMENT REPORTING

The Company’s operating segments include the Palmarejo complex, and the Rochester, Kensington, Wharf and Silvertip mines. Except for the Silvertip mine, which was acquired in the fourth quarter of 2017, all operating segments are engaged in the discovery, mining, and production of gold and/or silver. Silvertip is engaged in the discovery, mining, and production of silver, zinc and lead. Silvertip commenced commercial production in September 2018. Other includes the Sterling and La Preciosa projects, other mineral interests, strategic equity investments, corporate office, elimination of intersegment transactions, and other items necessary to reconcile to consolidated amounts.

The Company determined that the disposition in the first quarter of 2018 of Empresa Minera Manquiri S.A., a Bolivian Sociedad anonima (“Manquiri”), which operates the San Bartolomé mine, represented a strategic shift to a North America-focused mining portfolio and had significant effect on the entity's results and operations; therefore, the results of operations are presented as discontinued operations in Other for all periods presented.

Financial information relating to the Company’s segments is as follows (in thousands):



Year ended December 31, 2018	Palmarejo			Rochester			Kensington			Wharf			Silvertip			Other			Total
Revenue
Gold sales	$	131,758		$	66,556		$	132,924		$	95,770		$	—		$	—		$	427,008
Silver sales	113,998			75,252			—			746			3,157			—			193,153
Zinc sales	—			—			—			—			3,612			—			3,612
Lead sales	—			—			—			—			2,131			—			2,131
Metal sales	245,756			141,808			132,924			96,516			8,900			—			625,904
Costs and Expenses
Costs applicable to sales⁽¹⁾	120,088			105,677			112,364			67,201			35,620			—			440,950
Amortization	60,744			20,909			29,508			11,072			5,235			1,005			128,473
Exploration	10,516			332			5,871			104			2,748			5,826			25,397
Other operating expenses	3,043			7,071			1,721			2,686			303			36,564			51,388
Other income (expense)
Fair value adjustments, net	—			—			—			—			—			3,638			3,638
Interest expense, net	(2,137		)	(466		)	(973		)	(40		)	(766		)	(19,982		)	(24,364		)
Other, net	(8,308		)	(1,211		)	2,795			(834		)	(370		)	(16,777		)	(24,705		)
Income and mining tax (expense) benefit	(15,724		)	(874		)	—			(1,063		)	16,057			18,384			16,780
Income (loss) from continuing operations	$	25,196		$	5,268		$	(14,718	)	$	13,516		$	(20,085	)	$	(58,132	)	$	(48,955	)
Income (loss) from discontinued operations	$	—		$	—		$	—		$	—		$	—		$	550		$	550
Segment assets⁽²⁾	$	363,024		$	269,903		$	224,460		$	102,246		$	415,998		$	175,040		$	1,550,671
Capital expenditures	$	29,425		$	9,919		$	44,738		$	3,382		$	52,932		$	391		$	140,787

(1) Excludes amortization

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



Year ended December 31, 2017	Palmarejo			Rochester			Kensington			Wharf			Silvertip			Other			Total
Revenue
Gold sales	$	146,187		$	68,964		$	154,469		$	124,629		—			$	—		$	494,249
Silver sales	128,622			83,716			—			1,272			—			1,739			215,349
Metal sales	274,809			152,680			154,469			125,901			—			1,739			709,598
Costs and Expenses																—
Costs applicable to sales⁽¹⁾	146,176			107,921			116,096			69,322			—			745			440,260
Amortization	73,744			22,306			36,022			13,012			—			1,465			146,549
Exploration	11,924			1,352			8,604			320			—			8,111			30,311
Other operating expenses	1,263			3,394			1,412			2,468			153			44,015			52,552
Other income (expense)
Loss on debt extinguishment	—			—			—			—			—			(9,342		)	(9,342		)
Fair value adjustments, net	—			(864		)	—			—			—			—			(864		)
Interest expense, net	(487		)	(496		)	(413		)	(66		)	(2,212		)	(14,978		)	(16,440		)
Other, net	(851		)	2,193			(922		)	172			1,142			26,051			26,643
Income and mining tax (expense) benefit	(24,330		)	(1,028		)	—			(3,936		)	(932		)	296			(28,998		)
Income (loss) from continuing operations	$	16,034		$	17,512		$	(9,000	)	$	36,949		$	(2,155	)	$	(50,570	)	$	10,925
Income (loss) from discontinued operations	$	—		$	—		$	—		$	—		—			$	(12,244	)	$	(12,244	)
Segment assets⁽²⁾	$	377,621		$	239,223		$	212,588		$	104,010		339,369			$	411,111		$	1,344,553
Capital expenditures	$	29,902		$	40,874		$	36,248		$	8,844		17,684			$	20,866		$	136,734

(1) Excludes amortization

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



Year ended December 31, 2016	Palmarejo			Rochester			Kensington			Wharf			Other			Total
Revenue
Gold sales	$	72,612		$	61,724		$	146,593		$	135,061		$	—		$	415,990
Silver sales	68,661			78,221			—			1,617			4,128			152,627
Metal sales	141,273			139,945			146,593			136,678			4,128			568,617
Royalties	—			—			—			—			3,280			3,280
	141,273			139,945			146,593			136,678			7,408			571,897
Costs and Expenses
Costs applicable to sales⁽¹⁾	80,820			89,726			96,731			66,379			1,719			335,375
Amortization	36,599			21,838			34,787			20,621			2,683			116,528
Exploration	5,063			841			3,487			2			3,537			12,930
Write-downs	—			—			—			—			4,446			4,446
Other operating expenses	1,213			2,801			1,038			2,238			36,396			43,686
Other income (expense)
Loss on debt extinguishment	—			—			—			—			(21,365		)	(21,365		)
Fair value adjustments, net	(5,814		)	(4,133		)	—			—			(1,634		)	(11,581		)
Interest expense, net	(1,187		)	(664		)	(128		)	(69		)	(34,848		)	(36,896		)
Other, net	(12,125		)	(3,859		)	(25		)	17			16,090			98
Income and mining tax (expense) benefit	45,085			(2,785		)	—			(4,293		)	(4,760		)	33,247
Income (loss) from continuing operations	$	43,537		$	13,298		$	10,397		$	43,093		$	(87,890	)	$	22,435
Income (loss) from discontinued operations	$	—		$	—		$	—		$	—		$	32,917		$	32,917
Segment assets⁽²⁾	$	436,642		$	219,009		$	199,232		$	105,901		$	84,938		$	1,045,722
Capital expenditures	$	35,810		$	16,446		$	36,826		$	4,812		$	488		$	94,382

(1) Excludes amortization

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



Assets	December 31, 2018		December 31, 2017
Total assets for reportable segments	$	1,550,671	$	1,344,553
Cash and cash equivalents	115,081		192,032
Other assets	46,748		164,590
Total consolidated assets	$	1,712,500	$	1,701,175

Geographic Information



Long-Lived Assets	December 31, 2018		December 31, 2017
Mexico	$	342,007	$	370,188
United States	515,649		377,768
Canada	404,185		331,440
Other	8,177		4,910
Total	$	1,270,018	$	1,084,306



Revenue	Year ended December 31,
Revenue	2018		2017		2016
United States	$	371,248	$	433,050	$	423,216
Mexico	245,756		274,809		142,198
Canada	8,900		—		—
Australia	—		1,739		4,128
Other	—		—		2,355
Total	$	625,904	$	709,598	$	571,897

The Company's doré, as well as the concentrate product produced by the Wharf mine, is refined into gold and silver bullion according to benchmark standards set by the LBMA, which regulates the acceptable requirements for bullion traded in the London precious metals markets. The Company then sells its gold and silver bullion to multi-national banks, bullion trading houses, and refiners across the globe. The Company has seven trading counterparties at December 31, 2018. The Company's sales of doré or concentrate product produced by the Palmarejo, Rochester, and Wharf mines amounted to approximately 77%, 78%, and 74% of total metal sales for the years ended December 31, 2018, 2017, and 2016, respectively. In November 2018, one of the refiners, Republic Metals Corp. (“RMC”), a U.S.-based precious metals refiner, filed Chapter 11 bankruptcy. Approximately 0.4 million ounces of Coeur’s silver and 6,500 ounces of Coeur’s gold was impacted by RMC’s bankruptcy filing. The Company recognized a $6.5 million write-down related to the receivable with RMC.

The Company's gold concentrate product from the Kensington mine and the zinc and lead concentrates from the Silvertip mine are sold under a variety of agreements with smelters and traders, and the smelters and traders pay the Company for the metals recovered from the concentrates. The Company’s sales of concentrate produced by the Kensington and Silvertip mines amounted to approximately 23%, 22%, and 26% of total metal sales for the years ended December 31, 2018, 2017, and 2016, respectively.

The Company believes that the loss of a smelter, refiner, trader or third-party customer would not materially adversely affect the Company due to the liquidity of the markets and current availability of alternative trading counterparties.

The following table indicates customers that represent 10% or more of total sales of metal for at least one of the years December 31, 2018, 2017, and 2016 (in millions):



	Year ended December 31,
Customer	2018		2017		2016		Segments reporting revenue
Asahi (formerly Johnson Matthey)	$	213.0	$	124.1	$	62.6	Palmarejo, Wharf, Rochester
Techemet Metal Trading	83.3		104.8		40.7		Rochester, Wharf
Ocean Partners	74.8		—		—		Silvertip, Kensington
RMC	71.7		132.4		47.3		Palmarejo, Rochester
China National Gold	54.1		137.5		126.6		Kensington
INTL Commodities	—		9.6		76.6		Palmarejo, Rochester, Wharf