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

12 Months Ended

Dec. 31, 2014

Property, Plant and Equipment [Abstract]

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,
	2014		2013
Mining properties, including asset retirement obligations	$	336,962	$	312,692
Development costs		250,340		204,598
Plants and equipment		698,100		626,818
Land		15,799		15,799
Mineral interests		929,844		946,144
Construction in progress		224,216		200,921
		2,455,261		2,306,972
Less accumulated depreciation, depletion and amortization		623,697		515,371
Net carrying value	$	1,831,564	$	1,791,601

During 2014, we incurred total capital expenditures, excluding non-cash items for additions acquired under capital leases and adjustments for asset retirement obligations, capitalized interest, and deferred taxes, of approximately $122.5 million. The additions included $49.4 million at the Lucky Friday unit, $26.2 million at the Greens Creek unit, and $46.6 million at the Casa Berardi unit.

On June 1, 2013, we completed the acquisition of Aurizon Mines Ltd. ("Aurizon") for CAD$740.8 million ($714.5 million). See Note 15 for more information.

Properties, plants, equipment, and mineral interests includes the portion of interest costs incurred on our debt capitalized as a part of the cost of constructing certain qualifying assets. For the years ended December 31, 2014 and 2013, capitalized interest totaled $11.8 million and $6.5 million, respectively.

Capital Leases

We periodically enter into lease agreements primarily for equipment at our Greens Creek, Lucky Friday and Casa Berardi units which we have determined to be capital leases.  As of December 31, 2014 and 2013, we have recorded $50.7 million and $41.2 million, respectively, for the gross amount of assets acquired under the capital leases and $8.6 million and $10.1 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, 2014, 2013 and 2012, we incurred expenses of $3.5 million, $3.1 million and $3.1 million, respectively, for these leases. At December 31, 2014, future obligations under our non-cancelable operating leases were as follows (in thousands):

Year ending December 31,
2015	$	3,456
2016		3,364
2017		2,962
2018		966
2019		968
Thereafter		2,081
Total	$	13,797