Derivative Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative instruments, future settlement

At June 30, 2020, the Company had the following derivative instruments that settle as follows:

In thousands except average prices and notional ounces	2020		Thereafter
Provisional gold sales contracts	$	26,173	$	—
Average gold price per ounce	$	1,728	$	—
Notional ounces	15,147		—

At June 30, 2020, the Company had the following derivative cash flow hedge instruments that settle as follows:

In thousands except average prices and notional ounces	2020		2021 and Thereafter
Gold put options
Average gold strike price per ounce	$	1,457	$	1,600
Notional ounces	105,000		202,800
Gold call options
Average gold strike price per ounce	$	1,825	$	1,892
Notional ounces	105,000		202,800
Foreign currency forward exchange contracts - Mexican Peso
Average Mexican Peso exchange rate	24.22		25.00
Notional US dollar	$	30,000	$	60,000
Foreign exchange forward exchange contracts - Canadian Dollar
Average Canadian Dollar exchange rate	1.44		—
Notional US dollar	$	15,000	$	—

Fair value of the derivative instruments

The following summarizes the classification of the fair value of the derivative instruments:

	June 30, 2020
In thousands	Prepaid expenses and other		Accrued liabilities and other
Provisional metal sales contracts	$	666	$	—

	December 31, 2019
In thousands	Prepaid expenses and other		Accrued liabilities and other
Provisional metal sales contracts	$	753	$	275

The following summarizes the classification of the fair value of the derivative instruments designated as cash flow hedges:

	June 30, 2020
In thousands	Prepaid expenses and other		Accrued liabilities and other
Gold zero cost collars	$	—	$	14,485
Foreign currency forward exchange contracts	6,779		—
	$	6,779	$	14,485

	December 31, 2019
In thousands	Prepaid expenses and other		Accrued liabilities and other
Gold zero cost collars	$	—	$	136

        The following table sets forth the pre-tax gains (losses) on derivatives designated as cash flow hedges that have been included in Accumulated Other Comprehensive Income (“AOCI”) and the Condensed Consolidated Statement of Comprehensive Income (Loss) for the three and six months ended June 30, 2020 and 2019, respectively (in thousands).

	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
Amount of Gain (Loss) Recognized in AOCI
Gold zero cost collars	$	(14,490)	$	—	$	(14,349)	$	—
Foreign currency forward exchange contracts	7,393		—		7,458		—
	$	(7,097)	$	—	$	(6,891)	$	—
Amount of (Gain) Loss Reclassified From AOCI to Earnings
Gold zero cost collars	$	—	$	—	$	—	$	—
Foreign currency forward exchange contracts	(679)		—		(679)		—
	$	(679)	$	—	$	(679)	$	—

Gain losses on derivative instruments

The following represent mark-to-market gains (losses) on derivative instruments in the three and six months ended June 30, 2020 and 2019, respectively (in thousands):

		Three Months Ended June 30,				Six Months Ended June 30,
Financial statement line	Derivative	2020		2019		2020		2019
Revenue	Provisional metal sales contracts	$	713	$	(1,944)	$	1,213	$	(1,694)
Fair value adjustments, net	Interest rate swaps	—		(132)		—		(188)
		$	713	$	(2,076)	$	1,213	$	(1,882)