Segment Reporting

3 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

SEGMENT REPORTING

SEGMENT REPORTING

The Company’s operating segments include the Palmarejo, Rochester, Kensington and Wharf mines and Silvertip exploration project. Except for the Silvertip exploration project, all operating segments are engaged in the discovery, mining, and production of gold and/or silver. The Silvertip exploration project is engaged in the discovery of silver, zinc, lead, and other related metals. “Other” includes certain mineral interests, strategic equity investments, corporate office, elimination of intersegment transactions, and other items necessary to reconcile to consolidated amounts.

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

Three Months Ended March 31, 2024	Palmarejo		Rochester		Kensington		Wharf		Silvertip		Other		Total
Revenue
Gold sales	$	53,902	$	12,681	$	43,485	$	41,701	$	—	$	—	$	151,769
Silver sales	42,476		17,148		34		1,633		—		—		61,291
Metal sales	96,378		29,829		43,519		43,334		—		—		213,060
Costs and Expenses
Costs applicable to sales(1)	54,294		26,999		39,289		25,415		—		—		145,997
Amortization	12,602		6,633		5,596		1,393		852		221		27,297
Exploration	2,485		431		1,545		123		5,280		627		10,491
Other operating expenses	2,254		5,750		7,626		1,101		2,705		13,196		32,632
Other income (expense)
Gain on debt extinguishment	—		—		—		—		—		438		438
Fair value adjustments, net	—		—		—		—		—		—		—
Interest expense, net	(26)		(1,340)		(471)		(152)		(6)		(10,952)		(12,947)
Other, net(3)	546		30		(81)		(42)		(58)		2,378		2,773
Income and mining tax (expense) benefit	(11,683)		234		—		(1,136)		—		(3,439)		(16,024)
Net Income (loss)	$	13,580	$	(11,060)	$	(11,089)	$	13,972	$	(8,901)	$	(25,619)	$	(29,117)
Segment assets(2)	$	314,217	$	1,110,479	$	182,085	$	102,351	$	214,522	$	57,607	$	1,981,261
Capital expenditures	$	6,761	$	21,243	$	13,258	$	308	$	509	$	4	$	42,083

(1) Excludes amortization.

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

(3) See Note 13 -- Additional Comprehensive Income (Loss) Detail for additional detail.

Three Months Ended March 31, 2023	Palmarejo		Rochester		Kensington		Wharf		Silvertip		Other		Total
Revenue
Gold sales	$	40,607	$	16,047	$	40,124	$	30,323	$	—	$	—	$	127,101
Silver sales	41,700		17,853		74		570		—		—		60,197
Metal sales	82,307		33,900		40,198		30,893		—		—		187,298
Costs and Expenses
Costs applicable to sales(1)	49,265		42,865		37,382		23,544		—		—		153,056
Amortization	8,719		5,218		5,844		1,409		1,221		297		22,708
Exploration	1,313		383		996		—		1,497		461		4,650
Other operating expenses	1,526		2,025		984		1,014		6,546		10,878		22,973
Other income (expense)
Fair value adjustments, net	—		—		—		—		—		10,561		10,561
Interest expense, net	122		(175)		(530)		(14)		(22)		(6,770)		(7,389)
Other, net(3)	(138)		(93)		(71)		(476)		(9)		(174)		(961)
Income and mining tax (expense) benefit	(9,702)		239		—		(419)		—		(826)		(10,708)
Net Income (loss)	$	11,766	$	(16,620)	$	(5,609)	$	4,017	$	(9,295)	$	(8,845)	$	(24,586)
Segment assets(2)	$	306,852	$	877,844	$	152,946	$	107,417	$	242,886	$	49,056	$	1,737,001
Capital expenditures	$	10,150	$	51,962	$	10,702	$	121	$	669	$	444	$	74,048

(1) Excludes amortization.

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

(3) See Note 13 -- Additional Comprehensive Income (Loss) Detail for additional detail.

Assets	March 31, 2024		December 31, 2023
Total assets for reportable segments	$	1,981,261	$	1,943,037
Cash and cash equivalents	67,489		61,633
Other assets	71,315		76,178
Total consolidated assets	$	2,120,065	$	2,080,848

Geographic Information

Long-Lived Assets	March 31, 2024		December 31, 2023
United States	$	1,216,739	$	1,201,988
Mexico	252,226		256,906
Canada	228,809		229,242
Other	153		152
Total	$	1,697,927	$	1,688,288

Revenue	Three months ended March 31,
	2024		2023
United States	$	116,682	$	104,991
Mexico	96,378		82,307
Total	$	213,060	$	187,298