Note 6 - Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2025

Defined Benefit Plan [Abstract]

Schedule of changes in the plans' benefit obligations and fair value of assets

The following tables provide a reconciliation of the changes in the plans’ benefit obligations and fair value of assets over the two-year period ended December 31, 2025, and the funded status as of December 31, 2025 and 2024 (in thousands):

	Pension Benefits
	2025			2024
Change in benefit obligation:
Benefit obligation at beginning of year	$	168,004		$	149,426
Service cost		4,270			3,659
Interest cost		8,377			8,302
Change due to mortality change		266			2,430
Change due to discount rate change		(3,739	)		10,819
Actuarial return		249			1,714
Benefits paid		(9,237	)		(8,346	)
Benefit obligation at end of year		168,190			168,004
Change in fair value of plan assets:
Fair value of plan assets at beginning of year		184,334			176,958
Actual return on plan assets		31,372			15,722
SERP assets to non-current investments		(39,641	)		—
Benefits paid		(7,961	)		(8,346	)
Fair value of plan assets at end of year		168,104			184,334
Funded status at end of year	$	(86	)	$	16,330

Schedule of the amounts recognized in the consolidated balance sheets

The following table provides the amounts recognized in the consolidated balance sheets as of December 31, 2025 and 2024 (in thousands):

	Pension Benefits
	2025			2024
Non-current assets:
Accrued benefit asset	$	22,369		$	19,879
Pension liability
Accrued current benefit liability		—			(1,556	)
Accrued benefit liability		(22,455	)		(1,993	)
Accumulated other comprehensive loss		3,870			19,489
Net amount recognized	$	3,784		$	35,819

Schedule of assumptions related to benefit obligation and prepaid benefit costs

The benefit obligation and prepaid benefit costs were calculated by applying the following weighted average assumptions:

	Pension Benefits
	2025				2024
Discount rate: net periodic pension cost		5.35	%			5.14	%
Discount rate: projected benefit obligation		5.35	%			5.14	%
Expected rate of return on plan assets		7.25	%			7.25	%
Rate of compensation increase: net periodic pension cost	3.5%			(1)	3%
Rate of compensation increase: projected benefit obligation	3.5%			(1)	3%

(1) 3.5% for 2025 and 2026, 3% per year thereafter.

Schedule of net periodic pension cost

Net periodic pension cost for the plans consisted of the following in 2025, 2024, and 2023 (in thousands):

	Pension Benefits
	2025			2024			2023
Service cost	$	4,270		$	3,659		$	3,794
Interest cost		8,377			8,302			7,974
Expected return on plan assets		(10,187	)		(12,544	)		(12,428	)
Amortization of prior service cost		82			265			500
Amortization of net loss (gain)		2,030			61			(188	)
Net periodic pension (benefit) cost	$	4,572		$	(257	)	$	(348	)

Schedule of allocation of assets

The policy sets forth the following allocation of assets:

	Target			Maximum
Large cap U.S. equities		17	%		20	%
Small cap U.S. equities		8	%		10	%
Non-U.S. equities		25	%		30	%
U.S. Fixed income		18	%		23	%
Emerging markets debt		5	%		8	%
Real estate		15	%		18	%
Absolute return		5	%		7	%
Company stock/Real return		7	%		13	%

Schedule of fair values of plan by asset category

The fair values by asset category in each pension plan, along with their hierarchy levels, are as follows as of December 31, 2025 (in thousands):

	Hecla plan				Lucky Friday
	Level 1	Level 2	Level 3	Total	Level 1	Level 2	Level 3	Total
Investments measured at fair value
Interest-bearing cash	$568	$—	$—	$568	$156	$—	$—	$156
Common stock	7	—	—	7	—	—	—	—
Mutual funds	78,805	—	—	78,805	18,574	—	—	18,574
Total investments in the fair value hierarchy	79,380	—	—	79,380	18,730	—	—	18,730
Investments measured at net asset value
Real estate funds	—	—	—	18,585	—	—	4,348	4,348
Common collective funds	—	—	—	38,356	—	5,270	3,435	8,705
Total investments measured at net asset value	—	—	—	56,941	—	5,270	7,783	13,053
Total fair value	$79,380	$—	$—	$136,321	$18,730	$5,270	$7,783	$31,783

	Hecla plans				Lucky Friday
	Level 1	Level 2	Level 3	Total	Level 1	Level 2	Level 3	Total
Investments measured at fair value
Interest-bearing cash	$2,699	$—	$—	$2,699	$123	$—	$—	$123
Common stock	18,874	—	—	18,874	2,932	—	—	2,932
Mutual funds	87,823	—	—	87,823	13,016	—	—	13,016
Total investments in the fair value hierarchy	109,396	—	—	109,396	16,071	—	—	16,071
Investments measured at net asset value
Real estate funds	—	—	—	16,318	—	—	—	3,698
Common collective funds	—	—	—	31,688	—	—	—	7,163
Total investments measured at net asset value	—	—	—	48,006	—	—	—	10,861
Total fair value	$109,396	$—	$—	$157,402	$16,071	$—	$—	$26,932

Schedule of estimates of future benefit payments

The following are estimates of future benefit payments, which reflect expected future service as appropriate, related to our pension plans (in thousands):

Year Ending December 31,	Pension Plans
2026	$	10,273
2027		10,275
2028		10,549
2029		10,713
2030		10,996
Years 2031-2035		55,143

Schedule of indication of whether pension plans had accumulated benefit obligations (ABO) in excess of plan assets, or plan assets exceeded ABO

The following table indicates whether our pension plans had accumulated benefit obligations (“ABO”) in excess of plan assets, or plan assets exceeded ABO. In 2025, one of our plans had ABOs in excess of plan assets. During 2024 two of our plans had plan assets in excess of the ABO and one did not (in thousands).

	2025		2025		2024		2024
	Plan Assets Exceed ABO		ABO Exceed Plan Assets		Plan Assets Exceed ABO		ABO Exceed Plan Assets
Projected benefit obligation	$	145,736	$	22,454	$	48,251	$	119,753
Accumulated benefit obligation		142,230		21,834		47,262		116,148
Fair value of plan assets		168,104		—		66,573		117,761

Schedule of amounts included in "Accumulated other comprehensive loss, net"

For the pension plans, the following amounts are included in “Accumulated other comprehensive income, net” on our balance sheet as of December 31, 2025, that have not yet been recognized as components of net periodic benefit cost (in thousands):

	Pension Benefits
Unamortized net loss	$	3,647
Unamortized prior service cost		223