Segment Reporting

6 Months Ended

Jun. 30, 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 June 30, 2024	Palmarejo		Rochester		Kensington		Wharf		Silvertip		Other		Total
Revenue
Gold sales	$	42,411	$	17,368	$	51,104	$	43,202	$	—	$	—	$	154,085
Silver sales	40,835		25,396		(50)		1,760		—		—		67,941
Metal sales	83,246		42,764		51,054		44,962		—		—		222,026
Costs and Expenses
Costs applicable to sales(1)	48,227		36,655		40,721		19,114		—		—		144,717
Amortization	10,843		8,570		6,445		1,067		790		213		27,928
Exploration	2,578		977		1,291		1,126		6,445		457		12,874
Other operating expenses	2,446		2,826		1,129		1,144		2,404		9,882		19,831
Other income (expense)
Gain on debt extinguishment	—		—		—		—		—		(21)		(21)
Fair value adjustments, net	—		—		—		—		—		—		—
Interest expense, net	397		(1,055)		(499)		(125)		(4)		(11,876)		(13,162)
Other, net(3)	2,881		(146)		(82)		(45)		18		2,496		5,122
Income and mining tax (expense) benefit	(7,311)		672		—		(1,872)		—		1,322		(7,189)
Net Income (loss)	$	15,119	$	(6,793)	$	887	$	20,469	$	(9,625)	$	(18,631)	$	1,426
Segment assets(2)	$	302,034	$	1,125,586	$	196,671	$	108,268	$	213,833	$	51,885	$	1,998,277
Capital expenditures	$	5,871	$	27,530	$	16,477	$	1,156	$	350	$	21	$	51,405

(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 June 30, 2023	Palmarejo		Rochester		Kensington		Wharf		Silvertip		Other		Total
Revenue
Gold sales	$	35,296	$	12,638	$	24,538	$	48,883	$	—	$	—	$	121,355
Silver sales	37,432		16,463		63		1,922		—		—		55,880
Metal sales	72,728		29,101		24,601		50,805		—		—		177,235
Costs and Expenses
Costs applicable to sales(1)	46,591		26,068		39,149		27,829		—		—		139,637
Amortization	8,017		3,649		4,801		1,805		1,021		302		19,595
Exploration	1,614		279		2,327		—		(1,628)		328		2,920
Other operating expenses	2,233		2,400		960		1,029		4,961		8,566		20,149
Other income (expense)
Gain on debt extinguishment	—		—		—		—		—		2,961		2,961
Fair value adjustments, net	—		—		—		—		—		(3,922)		(3,922)
Interest expense, net	178		(287)		(325)		(30)		(18)		(6,430)		(6,912)
Other, net(3)	3,022		(47)		(80)		145		(110)		(12,537)		(9,607)
Income and mining tax (expense) benefit	(6,220)		137		—		(2,301)		—		(1,482)		(9,866)
Net Income (loss)	$	11,253	$	(3,492)	$	(23,041)	$	17,956	$	(4,482)	$	(30,606)	$	(32,412)
Segment assets(2)	$	311,609	$	977,958	$	160,145	$	103,249	$	217,831	$	61,920	$	1,832,712
Capital expenditures	$	11,914	$	61,458	$	11,656	$	150	$	138	$	265	$	85,581

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.

Six Months Ended June 30, 2024	Palmarejo		Rochester		Kensington		Wharf		Silvertip		Other		Total
Revenue
Gold sales	$	96,313	$	30,049	$	94,589	$	84,903	$	—	$	—	$	305,854
Silver sales	83,311		42,544		(16)		3,393		—		—		129,232
Metal sales	179,624		72,593		94,573		88,296		—		—		435,086
Costs and Expenses
Costs applicable to sales(1)	102,521		63,654		80,010		44,529		—		—		290,714
Amortization	23,445		15,203		12,041		2,460		1,642		434		55,225
Exploration	5,063		1,408		2,836		1,249		11,725		1,084		23,365
Other operating expenses	4,700		8,576		8,755		2,245		5,109		23,078		52,463
Other income (expense)
Gain on debt extinguishment	—		—		—		—		—		417		417
Fair value adjustments, net	—		—		—		—		—		—		—
Interest expense, net	371		(2,395)		(970)		(277)		(10)		(22,828)		(26,109)
Other, net(3)	3,427		(116)		(163)		(87)		(40)		4,874		7,895
Income and mining tax (expense) benefit	(18,994)		906		—		(3,008)		—		(2,117)		(23,213)
Net Income (loss)	$	28,699	$	(17,853)	$	(10,202)	$	34,441	$	(18,526)	$	(44,250)	$	(27,691)
Segment assets(2)	$	302,034	$	1,125,586	$	196,671	$	108,268	$	213,833	$	51,885	$	1,998,277
Capital expenditures	$	12,632	$	48,773	$	29,735	$	1,464	$	859	$	25	$	93,488

(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.

Six Months Ended June 30, 2023	Palmarejo		Rochester		Kensington		Wharf		Silvertip		Other		Total
Revenue
Gold sales	$	75,903	$	28,685	$	64,662	$	79,206	$	—	$	—	$	248,456
Silver sales	79,132		34,316		137		2,492		—		—		116,077
Metal sales	155,035		63,001		64,799		81,698		—		—		364,533
Costs and Expenses
Costs applicable to sales(1)	95,856		68,933		76,531		51,373		—		—		292,693
Amortization	16,736		8,867		10,645		3,214		2,242		599		42,303
Exploration	2,927		662		3,323		—		(131)		789		7,570
Other operating expenses	3,759		4,425		1,944		2,043		11,507		19,444		43,122
Other income (expense)
Gain on debt extinguishment	—		—		—		—		—		2,961		2,961
Fair value adjustments, net	—		—		—		—		—		6,639		6,639
Interest expense, net	300		(462)		(855)		(44)		(40)		(13,200)		(14,301)
Other, net(3)	2,884		(140)		(151)		(331)		(119)		(12,711)		(10,568)
Income and mining tax (expense) benefit	(15,922)		376		—		(2,720)		—		(2,308)		(20,574)
Net Income (loss)	$	23,019	$	(20,112)	$	(28,650)	$	21,973	$	(13,777)	$	(39,451)	$	(56,998)
Segment assets(2)	$	311,609	$	977,958	$	160,145	$	103,249	$	217,831	$	61,920	$	1,832,712
Capital expenditures	$	22,064	$	113,420	$	22,358	$	271	$	807	$	709	$	159,629

(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	June 30, 2024		December 31, 2023
Total assets for reportable segments	$	1,998,277	$	1,943,037
Cash and cash equivalents	74,136		61,633
Other assets	70,636		76,178
Total consolidated assets	$	2,143,049	$	2,080,848

Geographic Information

Long-Lived Assets	June 30, 2024		December 31, 2023
United States	$	1,218,875	$	1,201,988
Mexico	248,549		256,906
Canada	228,373		229,242
Other	154		152
Total	$	1,695,951	$	1,688,288

Revenue	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023
United States	$	138,780	$	104,507	$	255,462	$	209,498
Mexico	83,246		72,728		179,624		155,035
Total	$	222,026	$	177,235	$	435,086	$	364,533