Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2023

Financial information relating to the reporting segments

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


Year Ended December 31, 2023	Palmarejo		Rochester		Kensington		Wharf		Silvertip		Other		Total
Revenue
Gold sales	$	155,036	$	75,571	$	162,010	$	183,060	$	—	$	—	$	575,677
Silver sales	158,171		80,451		468		6,439		—		—		245,529


Metal sales	313,207		156,022		162,478		189,499		—		—		821,206
Costs and Expenses
Costs applicable to sales(1)	194,309		171,271		152,659		114,657		—		—		632,896
Amortization	35,709		26,392		25,905		6,694		4,018		1,104		99,822
Exploration	7,840		1,221		7,900		—		12,251		1,750		30,962

Other operating expenses	8,064		26,005		3,440		4,157		17,104		37,471		96,241
Other income (expense)
Gain on debt extinguishment	—		—		—		—		—		3,437		3,437
Fair value adjustments, net	—		—		—		—		—		3,384		3,384
Interest expense, net	844		(1,603)		(1,744)		(329)		(63)		(26,204)		(29,099)
Other, net(3)	4,590		(293)		(311)		(396)		(129)		(10,924)		(7,463)
Income and mining tax (expense) benefit	(26,016)		(816)		—		(7,047)		—		(1,277)		(35,156)
Net Income (loss)	$	46,703	$	(71,579)	$	(29,481)	$	56,219	$	(33,565)	$	(71,909)	$	(103,612)

Segment assets(2)	$	312,879	$	1,081,442	$	171,602	$	102,245	$	215,545	$	59,324	$	1,943,037
Capital expenditures	$	41,766	$	263,401	$	53,316	$	2,472	$	2,867	$	795	$	364,617

(1) Excludes amortization

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

(3) See Note 15 -- Additional Comprehensive Income (Loss) Detail for additional detail


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		7,540		1,685		1,379		22,322		42,809		80,107
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		(306)		(206)		(62)		(354)		64,055		66,331
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 15 -- 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	4,442		5,915		6,285		1,770		26,090		40,464		84,966
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)	(28,198)		(328)		(164)		1,634		(406)		426		(27,036)
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 15 -- Additional Comprehensive Income (Loss) Detail for additional detail

Consolidated Assets



Assets	December 31, 2023		December 31, 2022
Total assets for reportable segments	$	1,943,037	$	1,669,982
Cash and cash equivalents	61,633		61,464
Other assets	76,178		114,697
Total consolidated assets	$	2,080,848	$	1,846,143

Long Lived Assets by Country

Geographic Information


Long-Lived Assets	December 31, 2023		December 31, 2022
United States	$	1,201,988	$	899,960
Mexico	256,906		251,950
Canada	229,242		237,723
Other	152		122
Total	$	1,688,288	$	1,389,755

Revenue by Country


Revenue	Year ended December 31,
		2023		2022		2021
United States		$	507,999	$	482,202	$	512,554
Mexico		313,207		303,434		320,274

Total		$	821,206	$	785,636	$	832,828

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 ended December 31, 2023, 2022, and 2021 (in millions):


	Year ended December 31,
Customer	2023		2022		2021		Segments reporting revenue
Bank of Montreal	$	367.2	$	341.5	$	98.7	Palmarejo, Rochester, Wharf
Ocean Partners	$	346.2	$	168.9	$	176.4	Palmarejo, Kensington
Asahi	$	63.7	$	125.3	$	323.8	Palmarejo, Rochester, Kensington, Wharf