Note 3 - Income and Mining Taxes

9 Months Ended

Sep. 30, 2023

Disclosure Text Block [Abstract]

Income Tax Disclosure [Text Block]

Note 3. Income and Mining Taxes

Major components of our income and mining tax benefit (expense) for the three and nine months ended September 30, 2023 and 2022 are as follows (in thousands):

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2023			2022			2023			2022
Current:
Domestic	$	(1,182	)	$	253		$	(2,980	)	$	(2,296	)
Foreign		(1,029	)		(1,085	)		(3,050	)		(4,172	)
Total current income and mining tax expense		(2,211	)		(832	)		(6,030	)		(6,468	)
Deferred:
Domestic		(3,696	)		8,156			(17,619	)		915
Foreign		7,407			2,203			16,745			9,195
Total deferred income and mining tax benefit (expense)		3,711			10,359			(874	)		10,110
Total income and mining tax benefit (expense)	$	1,500		$	9,527		$	(6,904	)	$	3,642

The income and mining tax benefit (expense) for the three and nine months ended September 30, 2023 and 2022 varies from the amounts that would have resulted from applying the statutory tax rates to pre-tax income due primarily to the impact of taxation in foreign jurisdictions, non-recognition of net operating losses and foreign exchange gains and losses in certain jurisdictions.

For the three and nine months ended September 30, 2023, we used the annual effective tax rate method to calculate the tax provision. Valuation allowances on Nevada, Mexico and certain Canadian net operating losses were treated as discrete adjustments to the tax calculation including losses incurred by the acquired Alexco Resource Corp. entities ("Alexco"), which were acquired on September 7, 2022, and losses incurred by ATAC, which was acquired on July 7, 2023.