Income and Mining Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The components of Income (loss) before income taxes are below:

	Year Ended December 31,
In thousands	2021		2020		2019
United States	$	(34,196)	$	40,890	$	(16,702)
Foreign	37,832		21,782		(341,323)
Total	$	3,636	$	62,672	$	(358,025)

The components of the consolidated Income and mining tax (expense) benefit from continuing operations are below:

	Year Ended December 31,
In thousands	2021		2020		2019
Current:
United States	$	25	$	226	$	(334)
United States — State mining taxes	(5,691)		(8,384)		(4,001)
United States — Foreign withholding tax	(862)		(800)		(1,598)
Canada	—		232		119
Mexico	(31,175)		(36,066)		(19,619)
Other	—		33		(3)
Deferred:
United States	(651)		(49)		236
United States — State mining taxes	1,037		(354)		251
Canada	1,224		—		32,084
Mexico	1,135		8,117		3,994
Other	—		—		—
Income tax (expense) benefit	$	(34,958)	$	(37,045)	$	11,129

Schedule of Effective Income Tax Rate Reconciliation

he Company’s Income and mining tax benefit (expense) differed from the amounts computed by applying the United States statutory corporate income tax rate for the following reasons:

	Year Ended December 31,
In thousands	2021		2020		2019
Income and mining tax (expense) benefit at statutory rate	$	(764)	$	(13,161)	$	75,185
State tax provision from continuing operations	2,009		(152)		1,243
Change in valuation allowance	(28,615)		(17,522)		(77,220)
Percentage depletion	4,968		5,056		820
Uncertain tax positions	920		2,321		2,358
U.S. and foreign permanent differences	4,105		3,844		2,272
Foreign exchange rates	(384)		1,390		(7,066)
Foreign inflation and indexing	(1,087)		684		(2,933)
Foreign tax rate differences	(4,901)		(3,971)		19,729
Mining, foreign withholding, and other taxes	(12,599)		(17,457)		(2,746)
Other, net	1,390		1,923		(513)
Income and mining tax (expense) benefit	$	(34,958)	$	(37,045)	$	11,129

Schedule of Deferred Tax Assets and Liabilities

At December 31, 2021 and 2020, the significant components of the Company’s deferred tax assets and liabilities are below:

	Year Ended December 31,
In thousands	2021		2020
Deferred tax liabilities:
Inventory	—		5
Royalty and other long-term debt	1,495		1,094
Foreign subsidiaries - unremitted earnings	—		99
	$	1,495	$	1,198
Deferred tax assets:
Net operating loss carryforwards	$	267,944	$	241,985
Mineral properties	6,525		1,907
Property, plant, and equipment	13,161		10,841
Mining royalty tax	8,147		7,447
Capital loss carryforwards	15,404		17,341
Asset retirement obligation	39,262		38,761
Unrealized foreign currency loss and other	1,013		3,386
Accrued expenses	20,589		16,849
Tax credit carryforwards	26,594		29,809
	398,639		368,326
Valuation allowance	(430,053)		(401,304)
	(31,414)		(32,978)
Net deferred tax liabilities	$	32,909	$	34,176

Summary of Valuation Allowance

	Year Ended December 31,
In thousands	2021		2020
U.S.	$	228,942	$	215,396
Canada	165,561		146,611
Mexico	13,277		15,885
New Zealand	21,822		22,740
Other	451		672
	$	430,053	$	401,304

Summary of Tax Credit Carryforwards

The Company has the following tax attribute carryforwards at December 31, 2021, by jurisdiction:

In thousands	U.S.		Canada		Mexico		New Zealand		Other		Total
Regular net operating losses	$	466,708	$	392,061	$	44,257	$	77,764	$	919	$	981,709
Expiration years	2022-2038		2028-2041		2022-2031		Indefinite		2022-2026
Capital losses	56,534		—		—		—		—		56,534
Foreign tax credits	21,614		—		—		—		—		21,614

Summary of Income Tax Contingencies

A reconciliation of the beginning and ending amount related to unrecognized tax benefits is below (in thousands):

Unrecognized tax benefits at December 31, 2019	$	2,706
Gross increase to current period tax positions	—
Gross increase to prior period tax positions	(122)
Reductions in unrecognized tax benefits resulting from a lapse of the applicable statute of limitations	(1,861)
Unrecognized tax benefits at December 31, 2020	$	723
Gross increase to current period tax positions	—
Gross increase to prior period tax positions	—
Reductions in unrecognized tax benefits resulting from a lapse of the applicable statute of limitations	(428)
Unrecognized tax benefits at December 31, 2021	$	295