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Segment Reporting
 12 Months Ended
Dec. 31, 2022
Segment Reporting [Abstract]  
SEGMENT REPORTING SEGMENT REPORTING
The Company’s operating segments include the Palmarejo, Rochester, Kensington and Wharf mines and Silvertip exploration property. Except for the Silvertip exploration property, all operating segments are engaged in the discovery, mining, and production of gold and/or silver. The Silvertip exploration property, which suspended mining and processing activities in February 2020, is engaged in the discovery of silver, zinc and lead. Other includes the Sterling/Crown exploration properties (which were sold in the fourth quarter of 2022), other mineral interests, strategic equity investments, corporate office, elimination of intersegment transactions, and other items necessary to reconcile to consolidated amounts. In 2022 the Company disposed of the Sterling/Crown exploration properties and La Preciosa project, see Note 21 -- Dispositions for additional information.
Financial information relating to the Company’s segments is as follows (in thousands):
Year Ended December 31, 2022PalmarejoRochesterKensingtonWharfSilvertip OtherTotal
Revenue
Gold sales$157,595 $64,460 $201,859 $148,963 $— $— $572,877 
Silver sales145,839 65,203 634 1,083 — — 212,759 
Metal sales303,434 129,663 202,493 150,046 — — 785,636 
Costs and Expenses
Costs applicable to sales(1)
182,576 165,166 155,725 103,063 — — 606,530 
Amortization35,432 22,626 39,032 8,247 4,912 1,377 111,626 
Exploration6,605 4,627 6,637 — 4,628 4,127 26,624 
Other operating expenses4,372 7,340 1,870 1,947 22,322 42,896 80,747 
Other income (expense)
Fair value adjustments, net— — — — — (66,668)(66,668)
Interest expense, net(12)(810)(1,446)(66)(176)(21,351)(23,861)
Other, net(3)
3,204 (506)(21)506 (354)64,142 66,971 
Income and mining tax (expense) benefit(28,771)876 127 (2,868)— 15,978 (14,658)
Net Income (loss) $48,870 $(70,536)$(2,111)$34,361 $(32,392)$(56,299)$(78,107)
Segment assets(2)
$295,715 $809,116 $148,516 $105,209 $244,151 $67,275 $1,669,982 
Capital expenditures$42,648 $246,360 $31,456 $3,138 $24,797 $3,955 $352,354 
(1) Excludes amortization
(2) Segment assets include receivables, prepaids, inventories, property, plant and equipment, and mineral interests
(3) See Note 16 -- Additional Comprehensive Income (Loss) Detail for additional detail
Year Ended December 31, 2021PalmarejoRochesterKensingtonWharfSilvertip OtherTotal
Revenue
Gold sales$150,098 $49,659 $214,635 $164,519 $— $— $578,911 
Silver sales170,176 81,163 370 2,208 — — 253,917 
Metal sales320,274 130,822 215,005 166,727 — — 832,828 
Costs and Expenses
Costs applicable to sales(1)
153,655 131,240 133,065 93,579 — — 511,539 
Amortization36,062 20,187 54,933 11,038 4,797 1,298 128,315 
Exploration8,561 6,016 6,656 143 15,287 14,506 51,169 
Other operating expenses4,443 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 16 -- Additional Comprehensive Income (Loss) Detail for additional detail



Year Ended December 31, 2020PalmarejoRochesterKensingtonWharfSilvertip OtherTotal
Revenue
Gold sales$154,056 $46,337 $216,497 $167,743 $— $— $584,633 
Silver sales132,525 63,916 — 2,504 1,230 — 200,175 
Zinc sales— — — — (662)— (662)
Lead sales— — — — 1,315 — 1,315 
Metal sales286,581 110,253 216,497 170,247 1,883 — 785,461 
Costs and Expenses
Costs applicable to sales(1)
125,204 86,112 121,727 89,635 17,657 — 440,335 
Amortization44,873 14,306 49,477 12,473 8,923 1,335 131,387 
Exploration6,955 3,303 8,568 905 12,228 10,684 42,643 
Other operating expenses7,927 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(3)
(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
(3) See Note 16 -- Additional Comprehensive Income (Loss) Detail for additional detail

Assets December 31, 2022December 31, 2021
Total assets for reportable segments$1,669,982 $1,424,934 
Cash and cash equivalents61,464 56,664 
Other assets114,697 252,824 
Total consolidated assets$1,846,143 $1,734,422 
Geographic Information
Long-Lived Assets December 31, 2022December 31, 2021
United States$899,960 $704,007 
Mexico251,950 244,758 
Canada237,723 223,876 
Other122 125 
Total$1,389,755 $1,172,766 
RevenueYear ended December 31,
202220212020
United States$482,202 $512,554 $496,997 
Mexico303,434 320,274 286,581 
Canada— — 1,883 
Total$785,636 $832,828 $785,461 
The Company's doré, as well as the concentrate product produced by the Wharf mine, is refined into gold and silver bullion according to benchmark standards set by the London Bullion Market Association, which regulates the acceptable requirements for bullion traded in the London precious metals markets. The Company then sells its gold and silver bullion to multi-national banks, bullion trading houses, and refiners across the globe. The Company had five trading counterparties at December 31, 2022. The Company's sales of doré or concentrate product produced by the Palmarejo, Rochester, and Wharf mines amounted to approximately 74%, 74%, and 72%, of total metal sales for the years ended December 31, 2022, 2021, and 2020, respectively.
The Company's gold concentrate product from the Kensington mine and the zinc and lead concentrates from the Silvertip exploration property are or were sold under a variety of agreements with smelters and traders, and the smelters and traders pay the Company for the metals recovered from the concentrates. The Company’s sales of concentrate produced by the Kensington and Silvertip exploration property (solely in 2020 for periods prior to the suspension of active mining operations) amounted to approximately 26%, 26%, and 28% of total metal sales for the years ended December 31, 2022, 2021, and 2020, respectively.
The Company believes that the loss of any one smelter, refiner, trader or third-party customer would not have a material adverse effect on the Company due to the liquidity of the markets and current availability of alternative trading counterparties.
The following table indicates customers that represent 10% or more of total sales of metal for at least one of the years December 31, 2022, 2021, and 2020 (in millions):
Year ended December 31,
Customer202220212020Segments reporting revenue
Bank of Montreal$341.5 $98.7 $17.0 Palmarejo, Rochester, Wharf
Ocean Partners168.9 176.4 161.0 Palmarejo, Kensington, Silvertip
Asahi125.3 323.8 272.1 Palmarejo, Rochester, Kensington, Wharf
Argor-Heraeus49.3 23.3 79.9 Palmarejo, Rochester
Toronto Dominion Bank26.5 61.9 88.6 Rochester
Techemet Metal Trading— 62.2 81.8 Rochester, Wharf