Note 3. Properties, Plants, Equipment and Mineral Interests, and Lease Commitments

12 Months Ended

Dec. 31, 2011

Property, Plant and Equipment Disclosure [Text Block]

Note 3: Properties, Plants, Equipment and Mineral Interests, and Lease Commitments

Properties, Plants, Equipment and Mineral Interests

Our major components of properties, plants, equipment, and mineral interests are (in thousands):

	December 31,
	2011		2010
Mining properties, including asset retirement obligations	$	286,873	$	276,869
Development costs		123,772		114,071
Plants and equipment		383,045		351,146
Land		11,188		10,301
Mineral interests		383,491		358,857
Construction in progress		125,045		65,346
		1,313,414		1,176,590
Less accumulated depreciation, depletion and amortization		390,202		343,302
Net carrying value	$	923,212	$	833,288

During 2011, we incurred total capital expenditures, excluding additions acquired under capital leases and adjustments to asset retirement obligations, of approximately $130.1 million, which included $58.1 million at the Lucky Friday unit, $36.8 million at the Greens Creek unit, and $33.8 million for the acquisition of the remaining 30% interest in the San Juan Silver project (see Note 16 for more information) .

Capital Leases

During 2011 and 2010 we entered into lease agreements for equipment at our Greens Creek and Lucky Friday units which we have determined to be capital leases. As of December 31, 2011 and 2010, we have recorded $15.8 million and $8.9 million, respectively, for the gross amount of assets acquired under the capital leases and $5.7 million and $3.1 million, respectively, in accumulated depreciation, classified as plants and equipment in Properties, plants, equipment and mineral interests. See Note 6 for information on future obligations related to our capital leases.

Operating Leases

We enter into operating leases during the normal course of business. During the years ended December 31, 2011, 2010 and 2009, we incurred expenses of $3.0 million, $3.0 million and $2.4 million, respectively, for these leases. At December 31, 2011, future obligations under our non-cancelable operating leases were as follows (in thousands):

Year ending December 31,
2012	$	2,691
2013		2,082
2014		2,076
2015		374
2016		347
Thereafter		1,010
Total	$	8,580

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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