Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative instruments, future settlement

At December 31, 2022, the Company had the following derivative instruments that settle as follows:

In thousands except average prices and notional ounces	2023		2024 and Thereafter
Provisional gold sales contracts	$	26,004	$	—
Average gold price per ounce	$	1,786	$	—
Notional ounces	14,556		—

At December 31, 2022, the Company had the following derivative cash flow hedge instruments that settle as follows:

In thousands except average prices and notional ounces	2023		2024 and Thereafter
Gold forwards
Average gold fixed price per ounce	$	1,957	$	—
Notional ounces	130,500		—

Fair value of the derivative instruments

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

	December 31, 2022
In thousands	Prepaid expenses and other		Accrued liabilities and other
Provisional metal sales contracts	$	299	$	10

	December 31, 2021
In thousands	Prepaid expenses and other		Accrued liabilities and other
Provisional metal sales contracts	$	86	$	162

The following summarizes the classification of the fair value of the derivative instruments designated as cash flow hedges:

	December 31, 2022
In thousands	Prepaid expenses and other		Other assets		Accrued liabilities and other
Gold forwards	$	12,343	$	—	$	—

	December 31, 2021
In thousands	Prepaid expenses and other		Other assets		Accrued liabilities and other
Gold zero cost collars	$	—	$	—	$	1,212

The following table sets forth the pre-tax gains (losses) on derivatives designated as cash flow hedges that have been included in AOCI and the Consolidated Statement of Comprehensive Income (Loss) for the years ended December 31, 2022, 2021, and 2020, respectively (in thousands).

	Year Ended December 31,
	2022		2021		2020
Amount of Gain (Loss) Recognized in AOCI
Gold forwards	$	42,043	$	—	$	—
Gold zero cost collars	(4,598)		22,733		$	(32,345)
Foreign currency forward exchange contracts	—		50		19,911
	$	37,445	$	22,783	$	(12,434)
Amount of (Gain) Loss Reclassified From AOCI to Earnings
Gold forwards	$	(28,488)	$	—	$	—
Gold zero cost collars	4,598		938		$	7,598
Foreign currency forward exchange contracts	—		(13,797)		(6,164)
	$	(23,890)	$	(12,859)	$	1,434

Gain losses on derivative instruments

The following represent mark-to-market gains (losses) on derivative instruments in the years ended December 31, 2022, 2021, and 2020 respectively (in thousands):

		Year Ended December 31,
Financial statement line	Derivative	2022		2021		2020
Revenue	Provisional metal sales contracts	$	365	$	(490)	$	959
Fair value adjustments, net	Exchange agreement embedded derivative	—		9,933		—
Fair value adjustments, net	Terminated zero cost collars	(3,139)		—		—
		$	(2,774)	$	9,443	$	959