Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2022

Financial information relating to the reporting segments

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


Year Ended December 31, 2022	Palmarejo		Rochester		Kensington		Wharf		Silvertip		Other		Total
Revenue
Gold sales	$	157,595	$	64,460	$	201,859	$	148,963	$	—	$	—	$	572,877
Silver sales	145,839		65,203		634		1,083		—		—		212,759


Metal sales	303,434		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
Amortization	35,432		22,626		39,032		8,247		4,912		1,377		111,626
Exploration	6,605		4,627		6,637		—		4,628		4,127		26,624

Other operating expenses	4,372		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, 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 16 -- 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(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

Consolidated Assets



Assets	December 31, 2022		December 31, 2021
Total assets for reportable segments	$	1,669,982	$	1,424,934
Cash and cash equivalents	61,464		56,664
Other assets	114,697		252,824
Total consolidated assets	$	1,846,143	$	1,734,422

Long Lived Assets by Country

Geographic Information


Long-Lived Assets	December 31, 2022		December 31, 2021
United States	$	899,960	$	704,007
Mexico	251,950		244,758
Canada	237,723		223,876
Other	122		125
Total	$	1,389,755	$	1,172,766

Revenue by Country


Revenue	Year ended December 31,
		2022		2021		2020
United States		$	482,202	$	512,554	$	496,997
Mexico		303,434		320,274		286,581
Canada		—		—		1,883
Total		$	785,636	$	832,828	$	785,461

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, 2022, 2021, and 2020 (in millions):


	Year ended December 31,
Customer	2022		2021		2020		Segments reporting revenue
Bank of Montreal	$	341.5	$	98.7	$	17.0	Palmarejo, Rochester, Wharf
Ocean Partners	168.9		176.4		161.0		Palmarejo, Kensington, Silvertip
Asahi	125.3		323.8		272.1		Palmarejo, Rochester, Kensington, Wharf
Argor-Heraeus	49.3		23.3		79.9		Palmarejo, Rochester
Toronto Dominion Bank	26.5		61.9		88.6		Rochester
Techemet Metal Trading	—		62.2		81.8		Rochester, Wharf