Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2021

Financial information relating to the reporting segments

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


Year Ended December 31, 2021	Palmarejo		Rochester		Kensington		Wharf		Silvertip		Other		Total
Revenue
Gold sales	$	150,098	$	49,659	$	214,635	$	164,519	$	—	$	—	$	578,911
Silver sales	170,176		81,163		370		2,208		—		—		253,917


Metal sales	320,274		130,822		215,005		166,727		—		—		832,828
Costs and Expenses
Costs applicable to sales(1)	153,655		131,240		133,065		93,579		—		—		511,539
Amortization	36,062		20,187		54,933		11,038		4,797		1,298		128,315
Exploration	8,561		6,016		6,656		143		15,287		14,506		51,169

Other operating expenses	4,443		5,886		6,299		1,786		25,031		45,632		89,077
Other income (expense)
Loss on debt extinguishment	—		—		—		—		—		(9,173)		(9,173)
Fair value adjustments, net	—		—		—		—		—		(543)		(543)
Interest expense, net	(592)		(1,034)		(704)		(145)		1,276		(15,252)		(16,451)
Other, net(3)	(28,197)		(357)		(150)		1,650		(1,465)		5,594		(22,925)
Income and mining tax (expense) benefit	(29,730)		559		(414)		(4,799)		1,478		(2,052)		(34,958)
Net Income (loss)	$	59,034	$	(33,339)	$	12,784	$	56,887	$	(43,826)	$	(82,862)	$	(31,322)

Segment assets(2)	$	294,893	$	559,283	$	142,926	$	87,579	$	230,617	$	109,636	$	1,424,934
Capital expenditures	$	36,539	$	166,548	$	27,522	$	8,072	$	70,069	$	1,031	$	309,781

(1) Excludes amortization

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

(3) See Note 18 -- Additional Comprehensive Income (Loss) Detail for additional detail


Year Ended December 31, 2020	Palmarejo		Rochester		Kensington		Wharf		Silvertip		Other		Total
Revenue
Gold sales	$	154,056	$	46,337	$	216,497	$	167,743	$	—	$	—	$	584,633
Silver sales	132,525		63,916		—		2,504		1,230		—		200,175
Zinc sales	—		—		—		—		(662)		—		(662)
Lead sales	—		—		—		—		1,315		—		1,315
Metal sales	286,581		110,253		216,497		170,247		1,883		—		785,461
Costs and Expenses
Costs applicable to sales(1)	125,204		86,112		121,727		89,635		17,657		—		440,335
Amortization	44,873		14,306		49,477		12,473		8,923		1,335		131,387
Exploration	6,955		3,303		8,568		905		12,228		10,684		42,643

Other operating expenses	7,927		5,144		12,012		838		23,123		40,332		89,376
Other income (expense)

Fair value adjustments, net	—		—		—		—		—		7,601		7,601
Interest expense, net	(918)		(1,142)		(1,017)		(182)		(672)		(16,777)		(20,708)
Other, net	(5,273)		(2,718)		(18)		(69)		1,793		344		(5,941)
Income and mining tax (expense) benefit	(28,029)		(863)		(1,244)		(6,644)		—		(265)		(37,045)
Net Income (loss)	$	67,402	$	(3,335)	$	22,434	$	59,501	$	(58,927)	$	(61,448)	$	25,627

Segment assets(2)	$	305,291	$	346,986	$	169,414	$	75,047	$	157,529	$	177,886	$	1,232,153
Capital expenditures	$	25,511	$	37,542	$	19,825	$	2,447	$	13,144	$	810	$	99,279

(1) Excludes amortization

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


Year Ended December 31, 2019	Palmarejo		Rochester		Kensington		Wharf		Silvertip		Other		Total
Revenue
Gold sales	$	141,669	$	50,225	$	181,111	$	120,342	$	—	$	—	$	493,347
Silver sales	111,032		61,799		—		1,072		17,575		$	—	191,478
Zinc sales	—		—		—		—		12,806		—		12,806
Lead sales	—		—		—		—		13,871		—		13,871
Metal sales	252,701		112,024		181,111		121,414		44,252		—		711,502
Costs and Expenses
Costs applicable to sales(1)	141,927		100,205		119,602		80,689		108,758		—		551,181
Amortization	59,379		18,041		50,592		12,280		36,738		1,846		178,876
Exploration	5,658		657		5,588		272		2,469		7,883		22,527
Write-downs	—		—		—		—		250,814		—		250,814
Other operating expenses	4,591		4,572		1,248		2,832		1,216		38,455		52,914
Other income (expense)
Loss on debt extinguishment	—		—		—		—		—		(1,281)		(1,281)
Fair value adjustments, net	—		—		—		—		—		16,030		16,030
Interest expense, net	(444)		(1,015)		(1,333)		(100)		(1,137)		(20,742)		(24,771)
Other, net	(4,798)		(378)		(704)		89		(557)		3,155		(3,193)
Income and mining tax (expense) benefit	(14,257)		(709)		—		(3,041)		32,084		(2,948)		11,129
Income (loss) from continuing operations	$	21,647	$	(13,553)	$	2,044	$	22,289	$	(325,353)	$	(53,970)	$	(346,896)
Income (loss) from discontinued operations	$	—	$	—	$	—	$	—	—		$	5,693	$	5,693
Segment assets(2)	$	319,292	$	284,878	$	194,076	$	84,765	164,125		$	168,647	$	1,215,783
Capital expenditures	$	32,658	$	22,592	$	23,513	$	2,220	17,504		$	1,285	$	99,772

(1) Excludes amortization

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

Consolidated Assets



Assets	December 31, 2021		December 31, 2020
Total assets for reportable segments	$	1,424,934	$	1,232,153
Cash and cash equivalents	56,664		92,794
Other assets	252,824		79,030
Total consolidated assets	$	1,734,422	$	1,403,977

Long Lived Assets by Country

Geographic Information


Long-Lived Assets	December 31, 2021		December 31, 2020
United States	$	704,007	$	503,818
Mexico	244,758		293,436
Canada	223,876		149,018
Other	125		657
Total	$	1,172,766	$	946,929

Revenue by Country


Revenue	Year ended December 31,
		2021		2020		2019
United States		$	512,554	$	496,997	$	414,549
Mexico		320,274		286,581		252,701
Canada		—		1,883		44,252
Total		$	832,828	$	785,461	$	711,502

Major Customers by Reporting Segments

The following table indicates customers that represent 10% or more of total sales of metal for at least one of the years December 31, 2021, 2020, and 2019 (in millions):


	Year ended December 31,
Customer	2021		2020		2019		Segments reporting revenue
Asahi	$	323.8	$	272.1	$	341.0	Palmarejo, Kensington, Rochester, Wharf
Ocean Partners	176.4		161.0		149.7		Palmarejo, Kensington, Silvertip
Toronto Dominion Bank	61.9		88.6		35.1		Rochester
Techemet Metal Trading	62.2		81.8		9.4		Rochester, Wharf
Argor-Heraeus	23.3		79.9		23.1		Palmarejo