Supplemental Guarantor Information (Tables)

3 Months Ended

Mar. 31, 2020

Condensed Financial Information Disclosure [Abstract]

Condensed Balance Sheet

CONDENSED CONSOLIDATING BALANCE SHEET

MARCH 31, 2020

In thousands	Coeur Mining, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
ASSETS
CURRENT ASSETS
Cash and cash equivalents	$	7,594		$	16,832		$	28,469		$	—		$	52,895
Receivables	—			7,014			12,708			—			19,722
Ore on leach pads	—			83,035			—			—			83,035
Inventory	—			24,729			27,128			—			51,857
Prepaid expenses and other	6,649			1,080			6,421			—			14,150
	14,243			132,690			74,726			—			221,659
NON-CURRENT ASSETS
Property, plant and equipment, net	2,176			160,632			79,210			—			242,018
Mining properties, net	—			327,587			375,373			—			702,960
Ore on leach pads	—			66,703			—			—			66,703
Restricted assets	1,468			206			6,449			—			8,123
Equity and debt securities	26,826			—			—			—			26,826
Receivables	—			—			23,149			—			23,149
Net investment in subsidiaries	403,171			82,558			(82,713		)	(403,016		)	—
Other	243,008			50,552			2,622			(238,523		)	57,659
TOTAL ASSETS	$	690,892		$	820,928		$	478,816		$	(641,539	)	$	1,349,097
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES
Accounts payable	$	2,070		$	26,138		$	33,311		$	—		$	61,519
Other accrued liabilities	9,327			27,031			13,577			—			49,935
Debt	—			15,469			8,119			—			23,588
Reclamation	—			1,628			1,466			—			3,094
	11,397			70,266			56,473			—			138,136
NON-CURRENT LIABILITIES
Debt	277,062			32,596			248,386			(238,523		)	319,521
Reclamation	—			92,665			42,771			—			135,436
Deferred tax liabilities	366			8,190			27,916			—			36,472
Other long-term liabilities	3,826			37,117			17,945			—			58,888
Intercompany payable (receivable)	(262,403		)	244,608			17,795			—			—
	18,851			415,176			354,813			(238,523		)	550,317
STOCKHOLDERS’ EQUITY
Common stock	2,436			20,401			214,816			(235,217		)	2,436
Additional paid-in capital	3,603,785			338,479			2,018,080			(2,356,559		)	3,603,785
Accumulated deficit	(2,945,647		)	(23,394		)	(2,165,366		)	2,188,760			(2,945,647		)
Accumulated other comprehensive income (loss)	70			—			—			—			70
	660,644			335,486			67,530			(403,016		)	660,644
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	690,892		$	820,928		$	478,816		$	(641,539	)	$	1,349,097

CONDENSED CONSOLIDATING BALANCE SHEET

DECEMBER 31, 2019

In thousands	Coeur Mining, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
ASSETS
CURRENT ASSETS
Cash and cash equivalents	$	2,985		$	27,217		$	25,443		$	—		$	55,645
Receivables	(65		)	5,978			12,753			—			18,666
Ore on leach pads	—			66,192			—			—			66,192
Inventory	—			24,763			31,123			—			55,886
Prepaid expenses and other	6,202			1,192			6,653			—			14,047
	9,122			125,342			75,972			—			210,436
NON-CURRENT ASSETS
Property, plant and equipment, net	2,370			167,159			79,260			—			248,789
Mining properties, net	4,452			327,685			379,818			—			711,955
Ore on leach pads	—			71,539			—			—			71,539
Restricted assets	1,470			206			7,076			—			8,752
Equity and debt securities	35,646			—			—			—			35,646
Receivables	—			—			28,709			—			28,709
Net investment in subsidiaries	325,723			85,755			(85,740		)	(325,738		)	—
Other	267,281			52,040			20,937			(277,448		)	62,810
TOTAL ASSETS	$	646,064		$	829,726		$	506,032		$	(603,186	)	$	1,378,636
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES
Accounts payable	$	1,277		$	26,211		$	41,688		$	—		$	69,176
Other accrued liabilities	9,036			35,547			51,033			—			95,616
Debt	—			15,347			7,399			—			22,746
Reclamation	—			1,628			1,486			—			3,114
	10,313			78,733			101,606			—			190,652
NON-CURRENT LIABILITIES
Debt	226,885			32,989			290,325			(277,448		)	272,751
Reclamation	—			91,524			41,893			—			133,417
Deferred tax liabilities	50			8,104			33,822			—			41,976
Other long-term liabilities	4,225			40,012			28,599			—			72,836
Intercompany payable (receivable)	(262,413		)	246,186			16,227			—			—
	(31,253		)	418,815			410,866			(277,448		)	520,980
STOCKHOLDERS’ EQUITY
Common stock	2,415			20,309			215,792			(236,101		)	2,415
Additional paid-in capital	3,598,472			337,975			1,960,187			(2,298,162		)	3,598,472
Accumulated deficit	(2,933,747		)	(26,106		)	(2,182,419		)	2,208,525			(2,933,747		)
Accumulated other comprehensive income (loss)	(136		)	—			—			—			(136		)
	667,004			332,178			(6,440		)	(325,738		)	667,004
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	646,064		$	829,726		$	506,032		$	(603,186	)	$	1,378,636

Schedule of Comprehensive Income (Loss)

CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

THREE MONTHS ENDED MARCH 31, 2020

In thousands	Coeur Mining, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Revenue	$	—		$	96,944		$	76,223		$	—		$	173,167
COSTS AND EXPENSES
Costs applicable to sales(1)	—			65,286			53,631			—			118,917
Amortization	215			17,415			18,532			—			36,162
General and administrative	8,910			2			8			—			8,920
Exploration	280			4,363			1,743			—			6,386
Pre-development, reclamation, and other	18			2,616			3,921			—			6,555
Total costs and expenses	9,423			89,682			77,835			—			176,940
OTHER INCOME (EXPENSE), NET
Fair value adjustments, net	(8,819		)	—			—			—			(8,819		)
Other, net	4,615			(9		)	1,002			(3,727		)	1,881
Interest expense, net of capitalized interest	(4,105		)	(736		)	(4,014		)	3,727			(5,128		)
Total other income (expense), net	(8,309		)	(745		)	(3,012		)	—			(12,066		)
Income (loss) from continuing operations before income and mining taxes	(17,732		)	6,517			(4,624		)	—			(15,839		)
Income and mining tax (expense) benefit	(218		)	(518		)	4,675			—			3,939
Income (loss) from continuing operations	(17,950		)	5,999			51			—			(11,900		)
Equity income (loss) in consolidated subsidiaries	6,050			(3,157		)	3,027			(5,920		)	—
Income (loss) from discontinued operations	—			—			—			—			—
NET INCOME (LOSS)	$	(11,900	)	$	2,842		$	3,078		$	(5,920	)	$	(11,900	)
OTHER COMPREHENSIVE INCOME (LOSS), net of tax:
Unrealized gain (loss) on debt and equity securities	—			—			—			—			—
Unrealized gain (loss) on cash flow hedges, net of tax of $22 for the three months ended March 31, 2020	206			—			—			—			206
COMPREHENSIVE INCOME (LOSS)	$	(11,694	)	$	2,842		$	3,078		$	(5,920	)	$	(11,694	)

CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

THREE MONTHS ENDED MARCH 31, 2019

In thousands	Coeur Mining, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Revenue	$	—		$	90,699		$	64,171		$	—		$	154,870
COSTS AND EXPENSES
Costs applicable to sales(1)	—			72,022			59,628			—			131,650
Amortization	221			18,445			23,210			—			41,876
General and administrative	9,474			—			—			—			9,474
Exploration	336			1,124			2,254			—			3,714
Pre-development, reclamation, and other	160			1,943			2,331			—			4,434
Total costs and expenses	10,191			93,534			87,423			—			191,148
OTHER INCOME (EXPENSE), NET
Fair value adjustments, net	9,120			—			—			—			9,120
Other, net	4,998			165			(800		)	(4,303		)	60
Interest expense, net of capitalized interest	(5,729		)	(392		)	(4,636		)	4,303			(6,454		)
Total other income (expense), net	8,389			(227		)	(5,436		)	—			2,726
Income (loss) from continuing operations before income and mining taxes	(1,802		)	(3,062		)	(28,688		)	—			(33,552		)
Income and mining tax (expense) benefit	(2,077		)	(32		)	10,767			—			8,658
Income (loss) from continuing operations	(3,879		)	(3,094		)	(17,921		)	—			(24,894		)
Equity income (loss) in consolidated subsidiaries	(21,015		)	(418		)	283			21,150			—
Income (loss) from discontinued operations	5,693			—			—			—			5,693
NET INCOME (LOSS)	$	(19,201	)	$	(3,512	)	$	(17,638	)	$	21,150		$	(19,201	)
OTHER COMPREHENSIVE INCOME (LOSS), net of tax:
Unrealized gain (loss) on debt securities, net of tax	59			—			—			—			59
COMPREHENSIVE INCOME (LOSS)	$	(19,142	)	$	(3,512	)	$	(17,638	)	$	21,150		$	(19,142	)

Condensed Cash Flow Statement

CONDENSED STATEMENT OF CASH FLOWS

THREE MONTHS ENDED MARCH 31, 2020

In thousands	Coeur Mining, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES:
CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES	$	(3,457	)	$	2,231		$	(845	)	$	(5,920	)	$	(7,991	)
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	(21		)	(10,491		)	(11,696		)	—			(22,208		)
Proceeds from the sale of assets	4,500			6			—			—			4,506
Other	—			—			(17		)	—			(17		)
Investments in consolidated subsidiaries	(6,050		)	(39		)	169			5,920			—
Cash provided by (used in) activities of continuing operations	(1,571		)	(10,524		)	(11,544		)	5,920			(17,719		)
Cash provided by (used in) activities of discontinued operations	—			—			—			—			—
CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES	(1,571		)	(10,524		)	(11,544		)	5,920			(17,719		)
CASH FLOWS FROM FINANCING ACTIVITIES:
Issuance of notes and bank borrowings, net of issuance costs	50,000			—			—			—			50,000
Payments on debt, capital leases, and associated costs	—			(3,975		)	(1,926		)	—			(5,901		)
Silvertip contingent consideration	—			—			(18,750		)	—			(18,750		)
Net intercompany financing activity	(38,600		)	1,857			36,743			—			—
Other	(1,973		)	—			—			—			(1,973		)
Cash provided by (used in) activities of continuing operations	9,427			(2,118		)	16,067			—			23,376
Cash provided by (used in) activities of discontinued operations	—			—			—			—			—
CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES	9,427			(2,118		)	16,067			—			23,376
Effect of exchange rate changes on cash and cash equivalents	—			(27		)	(599		)	—			(626		)
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	4,399			(10,438		)	3,079			—			(2,960		)
Cash, cash equivalents and restricted cash at beginning of period	6,675			27,238			23,105			—			57,018
Cash, cash equivalents and restricted cash at end of period	$	11,074		$	16,800		$	26,184		$	—		$	54,058

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

THREE MONTHS ENDED MARCH 31, 2019

In thousands	Coeur Mining, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES:
CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES	(34,395		)	8,468			(11,069		)	21,150			(15,846		)
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	(38		)	(14,431		)	(12,969		)	—			(27,438		)
Proceeds from the sale of assets	—			753			94			—			847
Sales of investments	5,168			—			—			—			5,168
Other	1,803			—			(62		)	—			1,741
Investments in consolidated subsidiaries	21,015			—			135			(21,150		)	—
Cash provided by (used in) activities of continuing operations	23,948			(13,678		)	(12,802		)	(21,150		)	(19,682		)
Cash provided by (used in) activities of discontinued operations	—			—			—			—			—
CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES	23,948			(13,678		)	(12,802		)	(21,150		)	(19,682		)
CASH FLOWS FROM FINANCING ACTIVITIES:
Issuance of notes and bank borrowings, net of issuance costs	15,000			—			—			—			15,000
Payments on debt, capital leases, and associated costs	(15,000		)	(4,387		)	(2,969		)	—			(22,356		)
Net intercompany financing activity	10,226			(5,357		)	(4,869		)	—			—
Other	(3,364		)	—			—			—			(3,364		)
Cash provided by (used in) activities of continuing operations	6,862			(9,744		)	(7,838		)	—			(10,720		)
Cash provided by (used in) activities of discontinued operations	—			—			—			—			—
CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES	6,862			(9,744		)	(7,838		)	—			(10,720		)
Effect of exchange rate changes on cash and cash equivalents	—			3			198			—			201
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	415			(14,951		)	(31,511		)	—			(46,047		)
Cash, cash equivalents and restricted cash at beginning of period	12,747			25,532			79,790			—			118,069
Cash, cash equivalents and restricted cash at end of period	$	13,162		$	10,581		$	48,279		$	—		$	72,022