Income and Mining Taxes (Tables)

12 Months Ended

Dec. 31, 2023

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	2023		2022		2021
United States	$	(107,021)	$	(107,477)	$	(34,196)
Foreign	38,565		44,028		37,832
Total	$	(68,456)	$	(63,449)	$	3,636

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

	Year Ended December 31,
In thousands	2023		2022		2021
Current:
United States	$	981	$	(21)	$	25
United States — State mining taxes	(7,047)		(2,936)		(5,691)
United States — Foreign withholding tax	(119)		(300)		(862)
Canada	(848)		(305)		—
Mexico	(30,222)		(29,546)		(31,175)
Other	—		—		—
Deferred:
United States	305		215		(651)
United States — State mining taxes	(1,076)		5,558		1,037
Canada	—		254		1,224
Mexico	2,870		12,423		1,135
Other	—		—		—
Income tax (expense) benefit	$	(35,156)	$	(14,658)	$	(34,958)

Schedule of Effective Income Tax Rate Reconciliation

The 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	2023		2022		2021
Income and mining tax (expense) benefit at statutory rate	$	14,376	$	13,249	$	(764)
State tax provision from continuing operations	4,859		2,871		2,009
Change in valuation allowance	(36,778)		(36,670)		(28,615)
Percentage depletion	5,649		3,538		4,968
Uncertain tax positions	6		655		920
U.S. and foreign permanent differences	(3,056)		365		4,105
Foreign exchange rates	1,179		(145)		(384)
Foreign inflation and indexing	3,077		2,897		(1,087)
Foreign tax rate differences	(3,911)		(4,994)		(4,901)
Mining, foreign withholding, and other taxes	(18,265)		(11,070)		(12,599)
Sale of non-core assets	(1,322)		15,447		—
Other, net	(970)		(801)		1,390
Income and mining tax (expense) benefit	$	(35,156)	$	(14,658)	$	(34,958)

Schedule of Deferred Tax Assets and Liabilities

At December 31, 2023 and 2022, the significant components of the Company’s deferred tax assets and liabilities are below:

	Year Ended December 31,
In thousands	2023		2022
Deferred tax liabilities:
Other	$	—	$	—
	$	—	$	—
Deferred tax assets:
Net operating loss carryforwards	$	302,114	$	282,776
Mineral properties	44,244		31,095
Property, plant, and equipment	12,068		12,562
Mining royalty tax	7,345		7,440
Capital loss carryforwards	5,167		1,784
Asset retirement obligation	45,155		44,413
Unrealized foreign currency loss and other	—		—
Accrued expenses	25,321		30,379
Tax credit carryforwards	14,506		16,167
Other long-term assets	11,566		3,914
	$	467,486	$	430,530
Valuation allowance	(479,846)		(444,989)
	$	(12,360)	$	(14,459)
Net deferred tax liabilities	$	12,360	$	14,459

Summary of Valuation Allowance

Based upon this analysis, the Company has recorded valuation allowances as follows:

	Year Ended December 31,
In thousands	2023		2022
U.S.	$	262,059	$	245,899
Canada	194,727		178,310
Mexico	723		441
New Zealand	22,229		19,993
Other	108		346
	$	479,846	$	444,989

Summary of Tax Credit Carryforwards

The Company has the following tax attribute carryforwards at December 31, 2023, by jurisdiction:

In thousands	U.S.		Canada		Mexico		New Zealand		Other		Total
Regular net operating losses	$	623,108	$	440,506	$	1,998	$	79,886	$	429	$	1,145,927
Expiration years	2024-2037, Indefinite		2028-2043		2029-2034		Indefinite		2025-2028
Capital losses	—		—		—		—		—		—
Foreign tax credits	10,864		—		—		—		—		10,864

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, 2021	$	295
Gross increase to current period tax positions	—
Gross increase to prior period tax positions	24
Reductions in unrecognized tax benefits resulting from a lapse of the applicable statute of limitations	(315)
Unrecognized tax benefits at December 31, 2022	$	4
Gross increase to current period tax positions	$	—
Gross increase to prior period tax positions	$	1
Reductions in unrecognized tax benefits resulting from a lapse of the applicable statute of limitations	$	(3)
Unrecognized tax benefits at December 31, 2023	$	2