Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative instruments, future settlement

At December 31, 2020, the Company had the following derivative instruments that settle as follows:

In thousands except average prices and notional ounces	2021		2022 and Thereafter
Provisional gold sales contracts	$	28,243	$	—
Average gold price per ounce	$	1,852	$	—
Notional ounces	15,248		—

At December 31, 2020, the Company had the following derivative cash flow hedge instruments that settle as follows:

In thousands except average prices and notional ounces	2021		2022 and Thereafter
Gold put options
Average gold strike price per ounce	$	1,600	$	1,626
Notional ounces	158,700		126,000
Gold call options
Average gold strike price per ounce	$	1,875	$	2,030
Notional ounces	158,700		126,000
Foreign currency forward exchange contracts - Mexican Peso
Average Mexican Peso exchange rate	$	24.99	$	—
Notional US dollar	60,000		—

Fair value of the derivative instruments

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

	December 31, 2020
In thousands	Prepaid expenses and other		Accrued liabilities and other
Provisional metal sales contracts	$	481	$	67

	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:

	December 31, 2020
In thousands	Prepaid expenses and other		Accrued liabilities and other
Gold zero cost collars	$	—	$	24,883
Foreign currency forward exchange contracts	13,747		—
	$	13,747	$	24,883

	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 Consolidated Statement of Comprehensive Income (Loss) for the year ended December 31, 2020 and 2019, respectively (in thousands).

	Year Ended December 31,
	2020		2019		2018
Amount of Gain (Loss) Recognized in AOCI
Gold zero cost collars	$	(32,345)	$	(136)	$	—
Foreign currency forward exchange contracts	19,911		—		—
	$	(12,434)	$	(136)	$	—
Amount of (Gain) Loss Reclassified From AOCI to Earnings
Gold zero cost collars	$	7,598	$	—	$	—
Foreign currency forward exchange contracts	(6,164)		—		—
	$	1,434	$	—	$	—

Gain losses on derivative instruments

The following represent mark-to-market gains (losses) on derivative instruments in the year ended December 31, 2020 and 2019, respectively (in thousands):

		Year Ended December 31,
Financial statement line	Derivative	2020		2019		2018
Revenue	Provisional metal sales contracts	$	959	$	337	$	111
Fair value adjustments, net	Zinc options	—		—		753
Fair value adjustments, net	Interest rate swaps	—		(178)		(60)
		$	959	$	159	$	804